1.790
Revenue€B
3.035
3.197
3.377
3.591
3.832
3.997
4.172
4.391
4.621
4.896
1.999
5.02%
5.22%
36
5.48
Revenue growth%
11.44
9.64
7.84
9.97
11.54
12.25
10.53
9.33
6.79
4.80
21.63
9.33
9.81
78
26.06
Gross margin%
27.11
28.56
30.21
31.65
29.59
31.01
30.31
28.91
28.81
30.35
6.23
30.31
29.90
93
20.59
Operating margin%
30.54
33.07
33.50
34.68
36.83
36.88
37.32
36.54
34.28
35.98
24.57
36.54
35.33
57
22.51
Net margin%
25.70
25.78
23.53
26.12
28.13
25.35
26.33
27.09
25.88
25.32
14.61
25.88
25.83
30
34.21
P/E ratio (avg)x
29.93
31.22
34.52
35.02
41.17
42.79
42.57
45.13
48.56
55.98
35.13
45.13
41.87
21
37.21
EV/EBITx
23.21
25.25
28.14
29.14
29.71
33.40
36.28
34.18
34.01
38.53
25.87
34.18
31.56
14
9.32
FCF yield (avg)%
1.29
0.40
0.40
0.40
3.06
2.76
5.31
7.16
4.96
4.30
21.39
4.96
2.91
45
22.68
FCF margin%
25.35
22.44
25.36
26.95
25.99
23.74
26.69
29.24
31.91
33.61
17.99
29.24
26.34
82
0.308
FCF / Net incomex
1.503
1.531
1.821
1.895
2.156
2.334
2.395
2.315
2.599
2.533
1.165
2.395
2.236
33
2.52
ROIC%
15.33
14.15
13.77
15.49
16.76
15.68
14.76
13.30
13.23
15.97
20.32
14.76
15.05
15
22.61
Return on equity%
3.08
1.70
3.76
4.20
1.41
2.57
3.36
4.40
7.07
8.57
24.86
4.40
3.56
9
4.43
Return on assets%
11.37
11.18
13.81
11.58
11.92
11.48
10.52
9.09
8.96
9.57
17.63
9.57
11.27
50
7.92
EPS€
2.88
2.76
2.73
2.67
2.61
2.70
2.35
2.54
2.18
2.14
8.62
(3.83%)
(2.85%)
—
7.11
EPS growth%
24.39
22.89
20.99
18.76
19.80
21.81
20.28
17.45
18.06
15.73
18.01
18.06
20.04
21
3.18
Bookvalue per sh€
8.99
9.00
10.19
12.02
14.01
15.84
18.68
20.31
22.12
24.55
3.77
11.87%
11.87%
—
9.72
FCF per share€
13.34
13.81
13.36
13.53
14.37
13.51
13.70
14.32
13.94
14.80
7.50
0.60%
0.04%
—
4.44
Dividend per sh€
21.82
21.14
22.46
22.48
26.53
29.87
34.19
36.58
39.56
47.22
13.75
12.23%
9.67%
—
27.70
Div yield (avg)%
9.02
7.68
7.50
4.93
5.88
6.12
5.20
5.05
2.13
1.80
19.44
5.05
5.54
32
12.12
Payout ratio%
4.85
7.22
6.64
7.94
5.45
2.49
4.38
5.52
4.65
3.48
6.03
4.38
5.15
95
176.0
Shares (diluted)M
291.5
339.4
344.0
398.5
462.9
461.9
457.7
505.6
583.8
582.4
174.7
4.70%
7.90%
69
3.00
Buyback yield%
11.75
9.37
6.92
6.72
9.37
11.93
11.32
14.04
11.71
9.79
8.65
11.71
10.55
32
0.200
D/E ratiox
0.715
0.669
0.771
0.734
0.738
0.727
0.690
0.693
0.773
0.732
0.271
0.727
0.730
45
3.887
Enterprise value€B
2.518
2.869
2.956
3.189
3.390
3.733
3.844
3.735
3.623
4.068
4.799
3.72%
5.65%
65
5.764
LT debt€B
3.144
3.691
4.078
4.826
5.600
6.412
7.303
7.935
8.778
9.267
4.661
10.60%
11.91%
19
Revenue
€4.896B
5.22%
1.00×
Cost of revenue
€3.427B
5.22%
1.00×
Operating expenses
€967.7M
5.55%
1.03×
Property and equipment
16.01%
Spread over hurdle
(5.57%)