2.042
RevenueNT$B
1.081
1.185
1.300
1.405
1.498
1.586
1.709
1.864
2.009
2.215
2.109
8.15%
8.25%
23
11.65
Revenue growth%
21.63
23.04
25.51
24.29
22.35
21.53
20.62
18.55
20.69
19.94
19.10
20.62
21.58
83
23.15
Gross margin%
16.39
16.34
13.94
11.12
10.83
11.18
11.54
12.47
13.63
11.43
19.39
11.54
12.00
62
7.42
Operating margin%
4.46
4.09
4.18
7.05
8.23
5.32
6.20
7.82
5.46
8.24
29.15
6.20
5.83
65
12.50
Net margin%
12.94
14.03
16.23
14.10
13.34
10.80
11.90
9.60
9.98
9.54
10.85
9.98
12.42
70
36.28
P/E ratio (avg)x
20.12
22.32
21.38
22.18
22.34
19.80
21.22
21.80
21.08
22.90
35.48
21.22
21.59
64
34.16
EV/EBITx
16.50
17.66
20.06
20.14
23.66
27.16
27.86
31.52
33.52
35.02
21.49
31.52
25.41
16
5.07
FCF yield (avg)%
23.88
22.83
25.72
28.42
28.78
29.81
32.39
35.31
36.69
34.40
6.57
34.40
29.29
65
8.68
FCF margin%
15.01
16.21
18.52
20.52
23.23
21.21
22.70
19.93
21.25
19.39
22.84
21.21
20.22
82
0.707
FCF / Net incomex
3.104
3.334
3.747
4.457
4.641
5.297
6.265
6.362
6.646
7.310
1.704
6.362
4.969
82
11.81
ROIC%
3.96
6.26
3.26
4.39
3.32
2.82
5.08
3.40
6.16
6.82
8.56
5.08
4.18
17
13.78
Return on equity%
11.43
14.26
11.76
12.06
12.34
11.12
12.17
14.20
14.80
14.31
9.34
14.20
12.25
84
8.59
Return on assets%
12.69
12.17
10.09
9.90
7.63
9.97
12.75
12.61
14.74
15.07
3.46
12.75
12.39
62
5.04
EPSNT$
3.24
3.01
2.67
2.85
3.01
3.28
2.99
2.75
2.78
2.65
5.31
(2.47%)
(2.51%)
—
20.86
EPS growth%
12.38
12.62
12.82
14.74
12.53
11.26
12.92
14.98
17.54
18.07
17.54
14.98
12.87
44
4.56
Bookvalue per shNT$
4.43
4.88
4.92
4.35
4.38
4.01
4.11
4.22
4.36
4.14
5.62
(1.14%)
(1.33%)
—
8.09
FCF per shareNT$
4.96
4.58
4.24
3.81
3.87
4.16
4.32
4.62
4.40
4.50
6.79
3.04%
(1.19%)
—
8.43
Dividend per shNT$
2.96
3.22
3.11
3.21
3.13
3.16
3.05
3.04
3.18
3.29
8.74
0.97%
1.74%
—
12.23
Div yield (avg)%
17.28
15.23
16.99
19.83
19.56
19.74
21.22
22.74
19.76
16.94
7.09
19.76
19.65
80
5.83
Payout ratio%
28.50
29.83
30.94
29.04
31.27
32.80
34.42
32.85
30.69
31.15
24.09
32.80
31.04
62
109.7
Shares (diluted)M
118.1
122.8
117.3
117.1
130.0
152.3
164.4
179.1
201.4
234.3
109.6
12.50%
7.19%
65
8.47
Buyback yield%
26.15
28.40
25.89
23.45
25.14
23.90
24.17
25.70
26.35
28.92
14.96
25.70
25.80
69
1.096
D/E ratiox
1.494
1.663
2.000
2.374
2.577
2.867
2.929
3.327
3.640
4.083
1.767
3.327
2.722
90
0.232
Enterprise valueNT$B
0.984
1.174
1.339
1.413
1.610
1.693
1.679
1.648
1.928
1.930
2.380
3.69%
8.21%
95
1.365
LT debtNT$B
1.608
1.652
1.705
1.718
1.662
1.597
1.784
1.867
1.811
1.624
1.520
(0.46%)
0.83%
50
Cost of revenue
7.78%
0.96×
Operating expenses
9.05%
1.08×
Spread over hurdle
(0.88%)