2.219
Revenue€B
2.120
2.278
2.357
2.509
2.615
2.734
2.868
3.041
3.227
3.384
2.303
5.29%
5.19%
30
7.93
Revenue growth%
8.18
9.48
9.76
6.98
6.82
4.23
3.21
5.63
3.37
5.36
29.78
4.23
6.22
52
18.32
Gross margin%
17.58
17.39
20.26
19.69
17.82
18.92
19.00
18.77
17.39
16.20
27.54
18.77
18.30
32
18.06
Operating margin%
29.34
30.18
29.49
26.70
24.44
25.30
26.94
24.59
25.68
24.58
27.93
25.30
26.19
34
11.45
Net margin%
16.85
15.03
16.54
17.50
15.11
14.09
14.88
13.56
12.80
14.71
24.88
14.09
14.96
15
24.08
P/E ratio (avg)x
31.74
27.83
29.37
32.55
35.76
35.66
39.31
43.06
41.63
40.16
11.12
40.16
35.71
54
36.28
EV/EBITx
12.86
13.62
15.44
16.02
15.26
15.48
16.78
18.92
19.02
18.23
14.39
18.23
15.75
86
13.29
FCF yield (avg)%
24.24
25.74
26.60
28.64
26.05
27.48
26.28
26.26
27.63
30.53
22.64
27.48
26.44
62
10.90
FCF margin%
11.41
10.05
12.49
9.54
8.98
6.03
3.46
1.37
1.01
0.40
23.99
1.37
7.51
93
0.205
FCF / Net incomex
0.950
0.816
0.822
0.774
0.712
0.611
0.574
0.591
0.550
0.570
1.474
0.574
0.662
25
26.91
ROIC%
6.09
3.70
6.14
4.67
7.66
8.85
11.62
8.89
7.72
9.74
10.52
8.89
7.69
80
6.51
Return on equity%
15.73
13.79
12.47
10.03
10.13
10.42
13.21
12.71
10.47
8.68
9.79
10.47
11.47
53
2.01
Return on assets%
26.75
27.92
25.78
23.33
24.77
26.61
26.99
26.30
27.04
24.16
22.45
26.61
26.46
32
3.01
EPS€
3.16
3.33
3.09
2.60
2.21
2.11
2.00
1.98
1.84
1.87
3.12
(3.27%)
(4.69%)
—
28.72
EPS growth%
13.03
13.23
14.67
17.57
20.52
18.32
15.90
15.03
14.71
16.89
25.63
15.90
15.47
81
6.77
Bookvalue per sh€
3.91
3.90
4.10
4.26
4.02
3.76
4.06
3.43
3.25
3.12
3.80
(4.90%)
(2.67%)
—
4.73
FCF per share€
4.23
4.53
4.43
4.43
4.82
4.57
4.78
4.57
4.84
5.24
2.56
1.67%
2.45%
—
4.06
Dividend per sh€
7.70
7.40
8.53
7.93
9.11
10.27
11.82
11.45
12.71
14.38
6.56
9.57%
7.28%
—
18.15
Div yield (avg)%
25.71
25.15
23.49
21.49
19.30
18.58
21.56
24.53
22.33
22.03
2.31
22.03
22.18
95
8.97
Payout ratio%
2.98
4.26
6.95
8.32
6.99
9.28
7.39
7.59
8.57
10.17
25.02
8.57
7.49
41
112.3
Shares (diluted)M
132.8
149.6
150.9
160.9
161.0
168.2
190.7
203.3
222.0
220.8
114.9
6.51%
4.37%
60
21.78
Buyback yield%
13.35
16.30
16.05
15.61
14.90
17.31
16.83
16.49
16.29
15.44
17.24
16.49
16.17
76
1.787
D/E ratiox
0.841
0.844
0.715
0.737
0.646
0.698
0.709
0.723
0.737
0.710
0.533
0.710
0.719
36
1.363
Enterprise value€B
2.774
2.800
2.620
2.908
2.690
2.855
3.161
3.592
3.931
3.862
3.262
7.50%
4.15%
10
3.073
LT debt€B
1.133
1.157
1.148
1.077
1.174
1.186
1.337
1.560
1.657
1.791
2.233
8.82%
5.36%
74
Revenue
€3.384B
5.19%
1.00×
Cost of revenue
€2.369B
5.19%
1.00×
Operating expenses
€707.0M
5.82%
1.06×
Cash and investments
17.15%
Spread over hurdle
(2.41%)