1.619
RevenueNT$B
1.753
1.791
1.878
1.921
1.937
2.028
2.093
2.127
2.174
2.285
1.705
3.35%
3.10%
11
7.26
Revenue growth%
24.65
26.51
26.64
27.04
24.98
24.45
23.43
23.85
24.77
23.94
27.46
23.94
24.71
56
17.59
Gross margin%
29.22
31.64
30.91
29.12
31.75
32.69
33.41
33.93
31.10
33.02
17.81
33.02
31.70
68
7.76
Operating margin%
13.56
11.61
10.08
9.75
11.83
12.32
11.39
12.76
14.27
14.83
24.70
12.76
12.08
31
16.54
Net margin%
13.77
14.47
16.25
15.10
17.98
15.99
13.02
11.90
10.34
7.46
9.27
11.90
14.12
5
8.139
P/E ratio (avg)x
14.43
17.21
20.39
20.85
21.48
22.66
23.29
22.77
22.86
26.76
20.74
22.86
22.07
52
14.69
EV/EBITx
8.341
7.084
7.599
6.446
6.351
5.904
5.109
5.141
5.385
4.686
15.88
5.141
6.127
79
21.14
FCF yield (avg)%
5.12
6.01
5.47
6.41
8.44
6.52
4.97
5.22
5.24
4.82
4.52
5.22
5.35
60
9.94
FCF margin%
17.73
17.09
18.25
17.97
16.73
16.17
18.61
21.44
22.10
20.48
19.96
20.48
18.11
27
0.791
FCF / Net incomex
0.578
0.590
0.556
0.611
0.585
0.624
0.658
0.594
0.556
0.572
0.538
0.594
0.588
40
9.89
ROIC%
26.66
27.26
25.47
25.56
26.24
28.84
31.30
31.08
28.90
31.47
29.22
31.08
28.05
78
24.67
Return on equity%
7.57
6.18
7.86
10.86
8.07
9.93
11.93
9.85
9.67
10.86
9.48
9.93
9.76
86
8.63
Return on assets%
26.17
28.12
29.59
32.30
30.34
31.89
31.58
34.29
34.91
33.36
13.85
33.36
31.73
76
0.67
EPSNT$
4.55
5.09
5.42
5.37
5.87
6.44
6.97
7.17
7.85
8.78
0.69
8.38%
8.61%
—
7.81
EPS growth%
7.99
7.07
9.78
12.68
12.55
12.28
12.95
11.05
8.74
8.71
16.05
11.05
10.41
85
3.70
Bookvalue per shNT$
0.67
0.62
0.59
0.56
0.56
0.59
0.56
0.56
0.52
0.46
3.55
(3.96%)
(4.35%)
—
1.99
FCF per shareNT$
5.18
5.25
5.88
6.53
6.96
7.81
8.30
8.94
9.14
8.94
0.95
5.16%
6.73%
—
2.23
Dividend per shNT$
3.73
3.60
3.53
3.32
3.80
3.88
4.27
4.96
5.34
5.93
4.30
9.33%
5.25%
—
2.62
Div yield (avg)%
24.85
27.06
26.38
28.92
26.73
27.27
26.35
23.59
24.40
26.16
20.73
26.16
26.36
70
19.43
Payout ratio%
5.37
6.46
6.90
6.89
5.03
5.94
5.25
2.90
1.95
2.60
15.82
2.90
5.31
9
204.9
Shares (diluted)M
247.6
281.8
313.2
344.5
324.5
362.9
386.3
436.9
405.9
445.2
207.1
6.53%
6.99%
35
18.59
Buyback yield%
30.78
29.40
31.61
34.43
33.76
36.46
39.07
37.67
40.62
41.24
29.23
39.07
35.45
27
1.187
D/E ratiox
1.270
1.243
1.087
0.997
1.030
1.020
1.065
1.093
1.166
1.013
1.477
1.065
1.076
20
1.289
Enterprise valueNT$B
0.600
0.555
0.523
0.457
0.450
0.462
0.491
0.497
0.424
0.447
1.880
(0.15%)
(3.59%)
12
0.534
LT debtNT$B
1.233
1.301
1.370
1.638
1.651
1.697
1.722
1.960
2.154
2.516
0.861
8.79%
8.81%
86
Cost of revenue
3.11%
1.00×
Operating expenses
2.75%
0.97×
Spread over hurdle
(0.02%)