4.954
Revenue€M
2.440
2.616
2.890
3.137
3.411
3.704
3.991
4.280
4.590
5.073
5.543
8.27%
8.47%
36
7.13
Revenue growth%
11.68
12.90
13.91
16.07
14.77
14.00
11.43
9.06
6.82
4.90
24.43
9.06
12.29
20
8.18
Gross margin%
24.95
24.62
23.36
23.64
21.46
20.80
23.41
21.14
21.80
23.23
18.94
21.80
23.29
25
26.01
Operating margin%
24.78
24.76
24.57
25.06
25.78
23.05
21.76
22.02
24.44
21.87
19.62
22.02
24.50
48
21.22
Net margin%
30.85
33.41
30.92
32.73
30.20
32.25
34.86
31.89
30.26
29.07
7.05
31.89
31.40
85
22.96
P/E ratio (avg)x
23.98
21.18
19.75
19.42
18.33
18.93
20.32
22.33
21.25
22.34
23.39
21.25
20.75
35
30.42
EV/EBITx
32.65
37.02
37.20
41.43
39.24
35.69
38.31
38.12
40.98
37.16
36.43
38.12
37.66
41
20.48
FCF yield (avg)%
9.05
8.76
10.55
8.89
10.66
9.92
9.17
6.53
4.18
2.44
5.01
6.53
8.97
28
9.13
FCF margin%
14.68
14.68
15.50
17.89
17.37
17.23
15.96
13.89
14.76
14.30
19.31
14.76
15.13
43
1.421
FCF / Net incomex
1.321
1.280
1.222
1.156
1.104
0.994
0.953
0.984
0.982
1.015
1.099
0.984
1.060
12
3.66
ROIC%
8.40
7.19
7.22
5.89
3.87
5.99
4.25
2.05
4.86
6.22
23.72
4.86
5.94
14
19.70
Return on equity%
24.60
22.94
25.89
24.86
25.59
23.94
26.43
28.01
29.40
27.74
18.59
27.74
25.74
54
10.45
Return on assets%
17.61
19.94
22.87
20.41
22.54
23.52
24.23
26.44
24.36
27.05
7.10
24.36
23.20
29
0.04
EPS€
0.06
0.06
0.07
0.08
0.08
0.08
0.09
0.09
0.10
0.11
0.04
5.79%
7.50%
—
9.86
EPS growth%
18.92
16.81
16.62
17.91
16.94
17.39
18.27
20.76
23.09
25.97
29.31
20.76
18.09
85
0.03
Bookvalue per sh€
0.11
0.12
0.13
0.16
0.16
0.16
0.18
0.21
0.23
0.25
0.03
9.63%
10.04%
—
0.07
FCF per share€
0.14
0.15
0.15
0.16
0.16
0.18
0.19
0.20
0.20
0.18
0.07
2.75%
3.35%
—
0.05
Dividend per sh€
0.04
0.05
0.05
0.05
0.05
0.05
0.05
0.05
0.05
0.05
0.02
(0.99%)
(0.15%)
—
23.73
Div yield (avg)%
23.87
24.80
25.75
26.45
27.18
25.35
25.87
27.52
26.04
23.79
19.82
25.87
25.81
36
9.35
Payout ratio%
25.18
22.46
23.08
26.04
28.36
27.28
27.80
30.62
29.68
29.60
18.14
29.60
27.54
69
34.37
Shares (diluted)M
44.15
48.30
54.61
57.65
64.43
73.51
69.73
81.19
87.27
94.58
34.85
7.98%
8.22%
16
6.69
Buyback yield%
3.85
3.24
4.82
2.51
2.31
2.29
0.41
1.76
0.40
1.17
13.98
1.17
2.30
22
1.509
D/E ratiox
1.180
1.258
1.428
1.430
1.477
1.666
1.518
1.575
1.533
1.506
0.103
1.533
1.491
82
1.218
Enterprise value€M
2.611
2.782
2.994
2.924
2.840
2.634
2.324
2.295
2.122
2.055
2.581
(6.26%)
(1.93%)
33
5.088
LT debt€M
8.279
8.215
7.732
8.428
8.511
9.179
10.25
9.978
9.740
10.91
4.173
5.10%
4.23%
78
Revenue
€5.073M
8.47%
1.00×
Cost of revenue
€3.551M
8.47%
1.00×
Operating expenses
€0.802M
8.29%
0.98×
Cash and investments
15.54%
Spread over hurdle
(0.79%)