349.1
RevenueNT$M
344.9
349.3
354.9
365.9
369.1
380.6
385.6
387.9
398.5
417.7
389.1
2.51%
2.39%
26
20.33
Revenue growth%
19.60
22.06
19.67
22.55
19.85
20.99
19.93
20.23
22.13
23.90
2.74
20.99
20.61
45
20.90
Gross margin%
26.82
24.60
24.56
25.71
22.77
23.31
24.78
25.78
24.41
24.93
24.60
24.78
24.69
18
11.46
Operating margin%
10.12
12.11
14.45
12.45
13.31
11.63
8.82
9.26
9.36
10.40
21.26
9.36
11.01
8
10.06
Net margin%
24.65
21.78
21.92
22.81
20.45
17.89
18.23
18.34
16.21
15.18
2.44
17.89
19.40
25
6.519
P/E ratio (avg)x
19.73
19.25
21.72
21.72
21.80
23.15
24.30
27.02
25.22
26.65
10.24
25.22
22.47
44
29.26
EV/EBITx
17.07
16.89
17.68
19.36
22.71
22.77
23.74
27.75
27.90
31.69
37.80
27.75
22.74
7
10.82
FCF yield (avg)%
17.29
19.34
17.68
17.06
17.67
20.62
23.08
21.45
18.76
17.22
8.00
20.62
18.22
16
6.17
FCF margin%
13.14
12.94
12.10
9.59
9.50
8.31
10.65
12.92
10.32
12.93
22.97
10.65
11.38
37
0.751
FCF / Net incomex
0.716
0.695
0.704
0.753
0.725
0.803
0.795
0.735
0.798
0.882
0.323
0.798
0.744
65
6.02
ROIC%
21.88
21.92
24.58
22.92
25.01
22.31
19.66
21.08
22.61
22.87
10.95
22.31
22.46
18
25.36
Return on equity%
12.09
13.70
10.98
9.86
8.48
8.75
9.53
9.40
6.86
4.46
29.98
8.75
9.46
24
18.69
Return on assets%
5.31
8.30
8.44
9.50
8.50
10.87
11.43
11.67
10.18
11.17
18.63
11.17
9.84
26
3.00
EPSNT$
8.91
10.69
12.37
12.42
13.16
14.68
14.36
16.56
19.22
22.05
3.16
10.88%
10.45%
—
20.50
EPS growth%
3.96
1.88
0.40
2.67
2.70
5.48
3.97
1.05
0.40
1.19
29.85
1.19
2.28
8
2.59
Bookvalue per shNT$
5.95
6.54
6.63
6.15
6.61
6.92
6.18
6.60
6.53
6.87
6.45
0.77%
1.13%
—
3.04
FCF per shareNT$
7.46
8.69
9.73
10.73
10.49
10.92
11.55
12.25
12.62
12.70
1.53
3.89%
4.87%
—
7.19
Dividend per shNT$
2.00
2.03
2.27
2.24
2.32
2.22
2.06
2.32
2.43
2.56
2.32
1.98%
3.51%
—
3.23
Div yield (avg)%
7.35
7.07
8.11
10.73
12.58
12.31
12.17
11.22
11.83
10.20
6.34
11.83
10.97
43
10.18
Payout ratio%
8.00
9.21
12.12
11.14
12.12
13.47
15.48
18.34
20.80
21.76
7.24
18.34
12.80
34
55.18
Shares (diluted)M
67.31
72.14
76.63
78.07
77.47
85.25
90.42
98.42
110.0
126.1
58.06
10.24%
6.15%
58
6.69
Buyback yield%
20.99
23.80
21.26
22.34
21.84
24.47
24.27
26.15
23.68
24.56
13.27
24.47
23.74
68
1.458
D/E ratiox
1.123
1.290
1.235
1.164
1.121
1.193
1.131
1.045
1.170
1.178
0.793
1.170
1.167
29
443.3
Enterprise valueNT$M
107.5
120.4
131.5
131.3
123.7
134.3
138.1
143.5
139.2
160.7
190.7
5.38%
5.16%
28
332.0
LT debtNT$M
350.0
369.2
345.8
383.6
428.4
478.7
504.9
480.1
525.8
580.7
477.4
6.27%
5.45%
63
Cost of revenue
2.26%
0.99×
Operating expenses
2.38%
1.00×
Spread over hurdle
(1.03%)