2.299
Revenue€M
1.575
1.717
1.804
1.902
2.030
2.137
2.305
2.456
2.620
2.781
2.385
6.50%
6.34%
22
19.89
Revenue growth%
10.33
12.71
13.98
16.63
17.59
18.82
18.71
20.12
21.87
23.21
11.77
20.12
18.15
5
24.14
Gross margin%
2.20
0.40
2.77
1.17
0.40
0.40
0.46
0.72
2.06
2.46
27.31
0.72
0.94
53
8.39
Operating margin%
31.97
30.27
28.24
28.04
28.23
28.37
31.21
31.64
33.24
35.09
25.53
31.64
30.74
54
3.41
Net margin%
11.54
9.28
9.86
8.08
7.31
7.07
4.37
6.91
7.30
7.85
22.39
7.07
7.58
26
14.97
P/E ratio (avg)x
28.79
29.89
31.54
33.58
31.92
30.07
32.03
37.39
37.24
39.48
8.870
37.24
31.98
87
28.75
EV/EBITx
9.674
10.55
9.614
10.67
10.75
9.945
9.696
9.775
9.883
8.989
32.83
9.775
9.829
65
23.71
FCF yield (avg)%
17.30
18.11
20.75
18.41
15.76
12.81
12.92
11.88
12.81
14.56
26.63
12.81
15.16
40
15.67
FCF margin%
10.93
9.34
8.69
7.31
4.79
2.80
1.59
0.40
0.40
0.40
21.32
0.40
3.79
43
1.042
FCF / Net incomex
0.860
0.879
0.950
1.038
1.069
1.081
1.057
1.061
1.206
1.134
0.887
1.081
1.059
84
21.54
ROIC%
25.56
27.41
27.74
27.50
29.94
31.62
29.12
28.64
27.71
28.51
24.04
28.64
28.13
83
27.85
Return on equity%
32.36
32.56
32.64
31.70
31.44
32.73
31.38
30.18
29.61
28.00
20.68
30.18
31.57
54
12.89
Return on assets%
20.59
23.12
22.62
23.91
23.21
24.96
27.63
28.33
30.95
28.29
24.33
28.29
24.43
64
0.12
EPS€
0.25
0.26
0.25
0.25
0.26
0.27
0.27
0.27
0.28
0.32
0.12
4.46%
2.23%
—
16.65
EPS growth%
13.20
12.39
10.15
10.20
11.91
11.25
11.08
8.65
10.80
11.69
17.80
11.08
11.16
81
0.10
Bookvalue per sh€
0.51
0.58
0.61
0.62
0.72
0.80
0.77
0.78
0.78
0.88
0.08
4.21%
5.90%
—
0.21
FCF per share€
0.40
0.42
0.39
0.38
0.35
0.32
0.32
0.32
0.31
0.31
0.07
(2.38%)
(2.47%)
—
0.14
Dividend per sh€
0.16
0.16
0.15
0.17
0.15
0.16
0.18
0.18
0.19
0.19
0.21
4.88%
0.76%
—
25.46
Div yield (avg)%
17.01
16.01
14.05
15.83
16.36
16.57
15.98
15.66
14.46
16.66
10.97
15.98
15.99
82
6.05
Payout ratio%
22.85
23.87
22.99
23.06
21.96
23.89
26.40
24.47
23.62
24.57
24.35
24.47
23.74
11
9.406
Shares (diluted)M
6.512
6.478
6.051
6.096
5.313
5.263
5.055
4.801
5.138
5.027
9.311
(1.10%)
(2.42%)
41
28.88
Buyback yield%
9.43
7.48
4.69
4.90
2.62
2.13
1.15
1.22
0.40
3.31
26.38
1.22
2.97
63
0.840
D/E ratiox
1.770
1.980
2.046
2.068
2.134
2.487
2.683
2.877
2.720
2.752
1.392
2.720
2.311
88
1.011
Enterprise value€M
2.581
2.828
2.846
3.220
3.734
4.303
4.247
4.803
5.132
5.093
0.868
6.40%
7.83%
95
1.658
LT debt€M
2.605
2.859
3.338
3.189
3.733
4.380
4.587
4.638
5.323
5.054
0.878
6.25%
7.35%
78
Revenue
€2.781M
6.34%
1.00×
Cost of revenue
€1.825M
6.43%
1.01×
Operating expenses
€0.562M
6.88%
1.05×
Goodwill & intangibles
21.21%
Property and equipment
14.16%
Spread over hurdle
(4.80%)