614.7
Revenue¥M
401.5
423.6
461.8
488.4
529.2
565.4
598.3
642.2
685.3
750.9
641.7
7.25%
7.25%
7
26.81
Revenue growth%
13.53
10.76
8.75
6.45
5.97
7.45
6.41
6.71
4.03
1.94
7.05
6.41
6.58
34
29.50
Gross margin%
13.01
12.13
13.65
16.64
16.38
13.98
12.98
14.12
14.03
15.70
19.25
14.03
14.00
27
13.66
Operating margin%
8.30
10.21
7.68
5.13
2.70
0.62
3.11
5.51
3.58
4.07
27.15
3.58
4.60
69
6.17
Net margin%
18.26
15.57
17.34
16.76
15.66
12.85
11.53
13.37
13.14
11.10
17.91
12.85
14.47
50
26.12
P/E ratio (avg)x
20.14
19.80
19.98
22.05
22.94
25.36
26.11
26.81
30.55
29.33
36.07
26.81
24.15
9
18.98
EV/EBITx
28.03
27.05
28.35
30.85
31.38
34.07
30.13
31.23
32.30
28.71
23.31
31.23
30.49
10
28.89
FCF yield (avg)%
5.68
7.91
5.57
3.19
2.36
1.14
0.40
0.40
0.40
2.21
22.16
0.40
2.28
57
27.25
FCF margin%
26.26
24.56
24.18
25.42
27.05
26.20
26.33
24.10
23.33
23.00
21.73
24.10
24.99
10
1.748
FCF / Net incomex
1.203
1.125
1.043
1.106
1.076
1.170
1.214
1.215
1.353
1.256
1.764
1.215
1.186
88
19.32
ROIC%
13.30
12.04
14.38
15.03
16.30
14.09
11.47
14.10
14.20
13.68
21.77
14.09
14.09
76
20.45
Return on equity%
24.64
23.48
23.45
25.21
27.39
27.62
28.34
28.01
29.27
31.31
20.73
28.34
27.50
61
28.86
Return on assets%
7.26
4.51
5.89
8.66
8.19
7.10
7.74
7.68
6.29
5.70
16.59
7.10
7.18
69
94.73
EPS¥
181.03
198.06
216.99
210.95
215.18
245.62
258.07
281.76
304.78
303.18
100.00
7.10%
6.28%
—
15.77
EPS growth%
19.65
20.68
20.07
17.28
17.64
17.35
16.96
14.77
16.03
14.35
12.25
16.03
17.32
32
174.17
Bookvalue per sh¥
59.54
64.74
72.81
85.16
88.93
90.02
96.04
105.68
117.51
132.64
134.42
8.32%
9.87%
—
90.70
FCF per share¥
33.90
33.19
34.78
36.44
37.40
35.01
32.51
35.48
36.30
34.86
109.29
(1.40%)
0.60%
—
78.70
Dividend per sh¥
32.24
30.86
30.77
27.91
31.35
31.21
29.36
31.89
31.05
33.44
158.32
1.30%
0.96%
—
27.03
Div yield (avg)%
0.68
3.51
4.93
6.95
9.26
10.09
7.60
9.22
7.78
8.19
13.71
8.19
7.69
62
19.66
Payout ratio%
9.13
11.68
13.89
12.34
9.65
11.76
12.52
9.59
7.91
9.31
18.69
9.59
10.66
56
4.296
Shares (diluted)M
5.415
5.457
5.819
5.677
5.483
5.010
4.391
4.745
4.098
3.786
4.121
(7.14%)
(2.95%)
20
24.81
Buyback yield%
12.91
10.77
11.53
12.87
13.17
12.30
10.92
9.31
10.34
10.43
24.77
10.43
11.22
33
0.543
D/E ratiox
1.505
1.787
2.118
2.133
2.304
2.758
2.867
2.881
2.845
2.918
0.385
2.867
2.531
44
901.0
Enterprise value¥M
205.5
230.7
245.7
272.2
296.7
344.5
371.7
433.6
447.1
484.3
524.4
10.30%
8.99%
85
0.235
LT debt¥B
1.068
1.083
1.229
1.293
1.374
1.339
1.451
1.613
1.597
1.886
0.375
6.55%
6.65%
22
Revenue
¥750.9M
7.25%
1.00×
Cost of revenue
¥467.6M
7.16%
0.99×
Operating expenses
¥84.66M
6.58%
0.94×
Property and equipment
16.39%
Spread over hurdle
(2.94%)