pww.comBOC Hong Kong (Holdings) Limited - SEHK:2388

Profile

Price

HKD$ 25.4

()

Market Cap

HKD$ 268.549B

Shares Out

10572.8 M

Employees

14910

Dividends

Yield

6.91 %

Payout (TTM)

40.53 %

DPS (TTM)

1.715

DPS Growth 3Yr

-8.42 %

DPS Growth 5Yr

10.29 %

DPS Growth 10Yr

16.07 %

FinancialHealth

Cash

-

Net Debt

HKD$ 251.197B

Debt/Equity (TTM)

192.88 %

Returns(TTM)

ROA

0.89 %

ROE

11.06 %

ROCE

2.27 %

Valuation(TTM)

P/E

7.509

P/B

0.822

P/FCF

2.99 %

Margins(TTM)

Gross

100 %

Operating

27.73 %

Pre-Tax

26.77 %

Net

21.61 %

FCFPS

8.494 %

Growth(CAGR)

RevPS 3Yr

-0.374 %

RevPS 5Yr

0.11 %

RevPS 10Yr

0.187 %

NetIncomePS 3Yr

0.174 %

NetIncomePS 5Yr

0.004 %

NetIncomePS 10Yr

0.471 %

  • Last Price

    HKD$ 25.4

  • 5D

    1.195%

  • 1M

    2.213%

  • 3M

    -2.308%

  • 1Y

    38.495%

BOC Hong Kong (Holdings) Limited reported strong H1 2023 earnings, with a 38.7% increase in profit after tax and significant growth in net interest income and digital banking. The bank maintains market leadership in various sectors and has a solid capital adequacy position. However, it faces challenges from global economic volatility, high-interest rates affecting loan demand, and rising operating costs. While bullish factors include strategic growth initiatives and robust risk management, bearish factors highlight uncertainties in the Mainland property sector and regulatory pressures. The bank's future success will depend on its ability to navigate these challenges.

Valuation And Growth

Segments

Guidance and Outlook

Bulls - Bears Say

1Y

3Y

5Y

ALL

For the Fiscal PeriodFeb-28-2025Jan-31-2025Dec-31-2024Nov-30-2024Oct-31-2024Sep-30-2024Aug-31-2024Jul-31-2024Jun-30-2024May-31-2024Apr-30-2024Mar-31-2024Feb-29-2024Jan-31-2024Dec-31-2023Nov-30-2023Oct-31-2023Sep-30-2023Aug-31-2023Jul-31-2023Jun-30-2023May-31-2023Apr-30-2023Mar-31-2023Feb-28-2023Jan-31-2023Dec-31-2022Nov-30-2022Oct-31-2022Sep-30-2022Aug-31-2022Jul-31-2022Jun-30-2022May-31-2022Apr-30-2022Mar-31-2022Feb-28-2022Jan-31-2022Dec-31-2021Nov-30-2021Oct-31-2021Sep-30-2021Aug-31-2021Jul-31-2021Jun-30-2021May-31-2021Apr-30-2021Mar-31-2021Feb-28-2021Jan-31-2021Dec-31-2020Nov-30-2020Oct-31-2020Sep-30-2020Aug-31-2020Jul-31-2020Jun-30-2020May-31-2020Apr-30-2020Mar-31-2020Feb-29-2020Jan-31-2020Dec-31-2019Nov-30-2019Oct-31-2019Sep-30-2019Aug-31-2019Jul-31-2019Jun-30-2019May-31-2019Apr-30-2019Mar-31-2019Feb-28-2019Jan-31-2019Dec-31-2018Nov-30-2018Oct-31-2018Sep-30-2018Aug-31-2018Jul-31-2018Jun-30-2018May-31-2018Apr-30-2018Mar-31-2018Feb-28-2018Jan-31-2018Dec-31-2017Nov-30-2017Oct-31-2017Sep-30-2017Aug-31-2017Jul-31-2017Jun-30-2017May-31-2017Apr-30-2017Mar-31-2017Feb-28-2017Jan-31-2017Dec-31-2016Nov-30-2016Oct-31-2016Sep-30-2016Aug-31-2016Jul-31-2016Jun-30-2016May-31-2016Apr-30-2016Mar-31-2016Feb-29-2016Jan-31-2016Dec-31-2015Nov-30-2015Oct-31-2015Sep-30-2015Aug-31-2015Jul-31-2015Jun-30-2015May-31-2015Apr-30-2015Mar-31-2015Feb-28-2015Jan-31-2015Dec-31-2014Nov-30-2014Oct-31-2014Sep-30-2014Aug-31-2014Jul-31-2014Jun-30-2014May-31-2014Apr-30-2014Mar-31-2014Feb-28-2014Jan-31-2014Dec-31-2013Nov-30-2013Oct-31-2013Sep-30-2013Aug-31-2013Jul-31-2013Jun-30-2013May-31-2013Apr-30-2013Mar-31-2013Feb-28-2013Jan-31-2013Dec-31-2012Nov-30-2012Oct-31-2012Sep-30-2012Aug-31-2012Jul-31-2012Jun-30-2012May-31-2012Apr-30-2012Mar-31-2012Feb-29-2012Jan-31-2012Dec-31-2011Nov-30-2011Oct-31-2011Sep-30-2011Aug-31-2011Jul-31-2011Jun-30-2011May-31-2011Apr-30-2011Mar-31-2011Feb-28-2011Jan-31-2011Dec-31-2010Nov-30-2010Oct-31-2010Sep-30-2010Aug-31-2010Jul-31-2010Jun-30-2010May-31-2010Apr-30-2010Mar-31-2010Feb-28-2010Jan-31-2010Dec-31-2009Nov-30-2009Oct-31-2009Sep-30-2009Aug-31-2009Jul-31-2009Jun-30-2009May-31-2009Apr-30-2009Mar-31-2009Feb-28-2009Jan-31-2009Dec-31-2008Nov-30-2008Oct-31-2008Sep-30-2008Aug-31-2008Jul-31-2008Jun-30-2008May-31-2008Apr-30-2008Mar-31-2008Feb-29-2008Jan-31-2008Dec-31-2007Nov-30-2007Oct-31-2007Sep-30-2007Aug-31-2007Jul-31-2007Jun-30-2007May-31-2007Apr-30-2007Mar-31-2007Feb-28-2007Jan-31-2007Dec-31-2006Nov-30-2006Oct-31-2006Sep-30-2006Aug-31-2006Jul-31-2006Jun-30-2006May-31-2006Apr-30-2006Mar-31-2006Feb-28-2006Jan-31-2006Dec-31-2005Nov-30-2005Oct-31-2005Sep-30-2005Aug-31-2005Jul-31-2005Jun-30-2005May-31-2005Apr-30-2005Mar-31-2005Feb-28-2005Jan-31-2005Dec-31-2004Nov-30-2004Oct-31-2004Sep-30-2004Aug-31-2004Jul-31-2004Jun-30-2004May-31-2004Apr-30-2004Mar-31-2004Feb-29-2004Jan-31-2004Dec-31-2003Nov-30-2003Oct-31-2003Sep-30-2003Aug-31-2003Jul-31-2003Jun-30-2003May-31-2003Apr-30-2003Mar-31-2003Feb-28-2003Jan-31-2003Dec-31-2002Nov-30-2002Oct-31-2002Sep-30-2002Aug-31-2002Jul-31-2002

Valuation Multiples

TEV/LTM Unlevered FCF

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Market Cap/LTM Levered FCF

-

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P/LTM Normalized EPS

9.60

9.62

9.50

9.10

9.67

9.48

9.37

9.36

9.89

10.08

9.93

8.62

8.73

7.92

8.96

8.84

8.75

9.07

9.22

11.31

11.43

11.09

11.79

11.67

14.66

15.11

14.69

13.67

13.48

14.44

14.97

16.44

17.98

17.48

16.61

17.22

15.51

16.55

14.10

13.00

13.63

12.97

13.02

12.33

13.00

13.84

13.52

13.39

11.50

10.34

10.48

11.26

9.59

9.10

9.81

9.37

10.69

9.37

10.35

9.30

11.99

11.63

12.12

11.92

12.10

11.92

11.85

13.72

14.01

13.72

15.99

14.81

15.45

14.18

13.71

14.37

13.80

17.52

18.04

19.54

19.00

20.28

21.00

19.64

21.88

22.08

21.88

21.83

20.53

20.97

22.02

23.21

22.55

21.22

19.32

19.17

19.42

19.74

17.56

18.41

17.53

16.58

17.18

15.84

14.44

14.88

14.47

14.41

11.19

11.36

13.13

13.16

13.80

12.60

14.52

17.97

18.57

18.34

17.33

15.90

16.66

16.60

15.81

16.69

15.71

15.07

15.87

15.78

14.49

15.07

14.65

14.26

16.87

16.91

17.80

18.77

18.13

17.84

17.52

18.27

17.89

19.43

20.03

19.43

20.56

21.03

18.95

18.71

18.75

19.38

19.30

21.17

20.95

18.95

21.35

19.04

19.13

18.03

16.18

15.02

16.52

14.69

18.78

22.49

21.81

23.16

23.55

24.46

27.41

28.54

30.02

30.30

27.58

27.92

23.21

23.03

20.63

20.30

21.83

21.39

69.17

64.42

69.56

70.27

72.09

67.19

61.42

60.55

49.77

45.23

40.54

29.06

7.41

7.61

8.32

8.45

8.13

12.89

16.58

18.09

18.85

18.20

18.39

17.11

19.14

18.90

21.45

19.97

21.35

19.34

18.37

20.54

18.84

18.80

19.56

19.17

19.34

20.87

21.59

19.17

17.80

17.90

18.15

16.81

16.18

15.96

17.03

16.60

17.47

17.36

16.64

16.52

16.13

17.36

17.47

18.97

17.76

17.40

17.82

20.28

20.99

20.28

20.99

20.63

20.00

20.14

27.96

26.66

26.56

27.06

26.56

29.66

39.42

36.33

36.20

35.83

33.35

27.77

21.51

18.28

16.88

17.21

16.35

17.53

40.82

41.08

40.82

44.14

40.57

39.80

42.87

32.07

P/LTM EPS

7.45

7.46

7.38

7.07

7.51

7.36

7.27

7.35

7.77

7.92

7.80

6.77

6.95

6.30

7.13

7.03

6.96

7.22

7.33

9.26

9.36

9.09

9.65

9.56

11.76

12.12

11.78

10.96

10.81

11.58

12.01

13.05

14.27

13.88

13.19

13.67

12.45

13.30

11.32

10.44

10.95

10.42

10.46

9.98

10.52

11.20

10.94

10.84

9.05

8.14

8.24

8.86

7.54

7.16

7.72

7.10

8.10

7.10

7.83

7.05

8.73

8.47

8.83

8.68

8.81

8.68

8.63

9.95

10.16

9.95

11.60

10.74

11.15

10.23

9.89

10.36

9.96

12.64

13.02

14.11

13.72

14.64

15.16

14.18

15.46

15.60

15.46

15.42

14.50

14.82

15.56

16.80

16.32

15.36

13.98

13.87

13.70

13.92

12.38

12.98

12.36

11.69

12.11

11.23

10.23

10.54

10.26

10.21

8.25

8.37

9.68

9.70

10.17

9.29

10.70

13.44

13.90

13.72

12.97

11.89

12.53

12.48

11.89

12.55

11.82

11.34

11.93

11.62

10.67

11.09

10.79

10.50

11.89

11.92

12.55

13.23

12.77

12.57

12.35

12.30

12.05

13.08

13.49

13.08

14.05

14.37

12.95

12.79

12.81

13.24

13.19

12.34

12.21

11.05

12.45

11.10

10.95

10.32

9.27

8.60

9.46

8.41

10.75

15.21

14.75

15.67

15.93

16.55

17.95

18.69

19.66

19.85

18.06

18.29

15.20

15.36

13.76

13.54

14.56

14.27

62.81

58.50

63.16

63.81

65.46

61.01

55.77

52.25

42.95

39.03

34.98

25.08

5.49

5.63

6.16

6.26

6.02

9.54

12.28

13.57

14.13

13.65

13.79

12.83

14.34

14.16

16.07

14.96

15.99

14.48

13.76

15.32

14.05

14.02

14.60

14.30

14.23

15.36

15.89

14.11

13.10

13.18

13.37

12.38

11.91

11.75

12.54

12.22

12.82

12.74

12.21

12.13

11.84

12.74

12.82

13.88

12.99

12.73

13.04

14.41

14.91

14.41

14.91

14.66

14.20

14.31

18.59

17.73

17.66

17.99

17.66

19.72

26.81

24.70

24.62

24.37

22.68

18.89

15.84

13.47

12.44

12.68

12.04

12.91

42.48

42.75

42.48

45.93

42.22

41.42

44.61

32.28

P/BV

0.82

0.82

0.81

0.77

0.82

0.81

0.80

0.75

0.79

0.81

0.80

0.69

0.66

0.60

0.68

0.67

0.66

0.68

0.70

0.77

0.78

0.75

0.80

0.79

0.88

0.91

0.88

0.82

0.81

0.87

0.90

0.93

1.02

0.99

0.94

0.98

0.94

1.00

0.85

0.79

0.83

0.79

0.79

0.84

0.89

0.95

0.92

0.91

0.89

0.80

0.81

0.87

0.74

0.70

0.76

0.76

0.86

0.76

0.83

0.75

0.97

0.94

0.98

0.96

0.98

0.96

0.96

1.13

1.16

1.13

1.32

1.22

1.40

1.28

1.24

1.30

1.25

1.59

1.63

1.66

1.61

1.72

1.78

1.66

1.76

1.78

1.76

1.76

1.65

1.69

1.77

1.81

1.76

1.65

1.51

1.49

1.42

1.44

1.28

1.35

1.28

1.21

1.26

1.40

1.27

1.31

1.28

1.27

1.15

1.17

1.35

1.35

1.42

1.30

1.49

1.87

1.93

1.91

1.80

1.65

1.71

1.71

1.62

1.72

1.62

1.55

1.63

1.63

1.49

1.55

1.51

1.47

1.64

1.64

1.73

1.82

1.76

1.73

1.70

1.71

1.67

1.81

1.87

1.81

1.96

2.01

1.81

1.79

1.79

1.85

1.84

1.94

1.92

1.74

1.96

1.75

1.82

1.72

1.54

1.43

1.57

1.40

1.79

2.14

2.07

2.20

2.24

2.33

2.39

2.49

2.62

2.65

2.41

2.44

2.03

2.05

1.84

1.81

1.94

1.90

1.97

1.83

1.98

2.00

2.05

1.91

1.75

2.11

1.74

1.58

1.41

1.01

0.87

0.89

0.98

0.99

0.95

1.51

1.95

2.26

2.35

2.27

2.29

2.13

2.35

2.32

2.63

2.45

2.62

2.37

2.26

2.54

2.33

2.32

2.42

2.37

2.47

2.66

2.75

2.45

2.27

2.28

2.27

2.10

2.02

2.00

2.13

2.08

2.26

2.24

2.15

2.13

2.08

2.24

2.26

2.42

2.27

2.22

2.28

2.43

2.51

2.43

2.51

2.47

2.40

2.41

2.46

2.34

2.33

2.38

2.33

2.61

2.93

2.70

2.69

2.66

2.48

2.06

1.86

1.58

1.46

1.49

1.41

1.51

7.88

7.93

7.88

8.52

7.83

7.69

8.28

1.71

P/Tangible BV

0.82

0.82

0.81

0.78

0.83

0.81

0.80

0.76

0.80

0.82

0.80

0.70

0.66

0.60

0.68

0.67

0.66

0.69

0.70

0.77

0.78

0.76

0.81

0.80

0.89

0.91

0.89

0.83

0.81

0.87

0.90

0.94

1.03

1.00

0.95

0.98

0.94

1.01

0.86

0.79

0.83

0.79

0.79

0.85

0.89

0.95

0.93

0.92

0.89

0.80

0.81

0.87

0.74

0.70

0.76

0.76

0.86

0.76

0.83

0.75

0.97

0.94

0.98

0.96

0.98

0.96

0.96

1.13

1.16

1.13

1.32

1.22

1.40

1.28

1.24

1.30

1.25

1.59

1.63

1.66

1.61

1.72

1.78

1.66

1.76

1.78

1.76

1.76

1.65

1.69

1.77

1.81

1.76

1.65

1.51

1.49

1.42

1.44

1.28

1.35

1.28

1.21

1.26

1.40

1.27

1.31

1.28

1.27

1.15

1.17

1.35

1.35

1.42

1.30

1.49

1.87

1.93

1.91

1.80

1.65

1.71

1.71

1.62

1.72

1.62

1.55

1.63

1.63

1.49

1.55

1.51

1.47

1.64

1.64

1.73

1.82

1.76

1.73

1.70

1.71

1.67

1.81

1.87

1.81

1.96

2.01

1.81

1.79

1.79

1.85

1.84

1.94

1.92

1.74

1.96

1.75

1.82

1.72

1.54

1.43

1.57

1.40

1.79

2.14

2.07

2.20

2.24

2.33

2.39

2.49

2.62

2.65

2.41

2.44

2.03

2.05

1.84

1.81

1.94

1.90

1.97

1.83

1.98

2.00

2.05

1.91

1.75

2.11

1.74

1.58

1.41

1.01

0.87

0.89

0.98

0.99

0.95

1.51

1.95

2.26

2.35

2.27

2.29

2.13

2.35

2.32

2.63

2.45

2.62

2.37

2.26

2.54

2.33

2.32

2.42

2.37

2.47

2.66

2.75

2.45

2.27

2.28

2.27

2.10

2.02

2.00

2.13

2.08

2.26

2.24

2.15

2.13

2.08

2.24

2.26

2.42

2.27

2.22

2.28

2.43

2.51

2.43

2.51

2.47

2.40

2.41

2.46

2.34

2.33

2.38

2.33

2.61

2.93

2.70

2.69

2.66

2.48

2.06

1.86

1.58

1.46

1.49

1.41

1.51

7.88

7.93

7.88

8.52

7.83

7.69

8.28

1.71

TEV/LTM Total Revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Market Cap/LTM Total Revenue

4.25

4.25

4.20

4.03

4.28

4.20

4.14

4.07

4.30

4.38

4.32

3.74

3.60

3.27

3.70

3.65

3.61

3.74

3.80

4.59

4.64

4.50

4.78

4.74

5.79

5.96

5.80

5.40

5.32

5.70

5.91

6.40

7.00

6.81

6.47

6.70

6.16

6.57

5.60

5.16

5.41

5.15

5.17

5.11

5.38

5.73

5.60

5.55

4.92

4.43

4.48

4.82

4.10

3.89

4.20

4.05

4.62

4.05

4.47

4.02

5.21

5.06

5.27

5.18

5.26

5.18

5.15

5.99

6.11

5.99

6.98

6.46

6.74

6.19

5.98

6.27

6.02

7.65

7.87

8.43

8.19

8.75

9.06

8.47

9.49

9.57

9.49

9.46

8.90

9.09

9.55

9.87

9.59

9.03

8.22

8.15

8.12

8.26

7.34

7.70

7.33

6.93

7.19

6.71

6.12

6.30

6.13

6.11

4.76

4.83

5.58

5.59

5.86

5.36

6.17

7.65

7.90

7.81

7.38

6.77

6.98

6.96

6.62

6.99

6.59

6.32

6.65

6.53

6.00

6.24

6.06

5.90

6.83

6.85

7.21

7.60

7.34

7.22

7.09

7.35

7.20

7.82

8.06

7.82

8.28

8.47

7.63

7.54

7.55

7.81

7.77

8.32

8.23

7.45

8.39

7.48

7.61

7.18

6.44

5.98

6.57

5.85

7.47

8.86

8.59

9.12

9.27

9.64

7.22

7.52

7.91

7.98

7.26

7.35

6.11

6.10

5.46

5.37

5.78

5.66

14.49

13.50

14.58

14.73

15.11

14.08

12.87

13.60

11.18

10.16

9.11

6.53

2.97

3.05

3.33

3.38

3.25

5.16

6.64

7.79

8.12

7.84

7.92

7.37

6.36

6.28

7.13

6.64

7.09

6.42

6.10

6.79

6.22

6.21

6.46

6.33

7.90

8.52

8.82

7.83

7.27

7.31

7.86

7.28

7.00

6.91

7.37

7.19

7.91

7.86

7.53

7.48

7.31

7.86

7.91

8.39

7.86

7.70

7.89

8.49

8.79

8.49

8.79

8.64

8.37

8.43

10.31

9.83

9.79

9.98

9.79

10.93

12.98

11.96

11.92

11.79

10.98

9.14

7.45

6.33

5.85

5.96

5.66

6.07

9.09

9.15

9.09

9.83

9.03

8.86

9.55

8.56

TEV/LTM EBITDA

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

TEV/LTM EBIT

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Margin Analysis

Gross Margin

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

SG&A Margin

24.02

24.02

24.02

24.02

24.02

24.02

24.02

18.80

18.80

25.47

25.47

25.47

25.48

25.48

25.48

24.35

24.35

24.35

24.35

25.19

25.19

27.49

27.49

27.49

28.78

28.78

28.78

30.20

30.20

30.20

29.88

29.88

29.88

29.57

29.57

29.57

29.07

29.07

29.07

28.60

28.60

28.60

27.57

27.57

27.57

26.62

26.62

26.62

25.89

25.89

25.89

25.21

25.21

25.21

24.85

24.85

24.85

24.51

24.51

24.51

24.22

24.22

24.22

23.93

23.93

23.93

23.81

23.81

23.81

23.68

23.68

23.68

23.51

23.51

23.51

23.33

23.33

23.33

23.76

23.76

23.76

24.22

24.22

24.22

24.24

24.24

24.24

24.27

24.27

24.27

24.48

24.48

24.48

24.71

24.71

24.71

24.84

24.84

24.84

24.98

24.98

24.98

24.61

24.61

24.61

24.25

24.25

24.25

22.92

22.92

22.92

22.92

22.92

22.92

23.45

23.45

23.45

23.96

23.96

23.96

25.20

25.20

25.20

25.37

25.37

25.37

25.44

25.44

25.44

25.50

25.50

25.50

26.18

26.18

26.18

26.93

26.93

26.93

26.98

26.98

26.98

27.02

27.02

27.02

27.37

27.37

27.37

27.74

27.74

27.74

28.27

28.27

28.27

28.85

28.85

28.85

27.73

27.73

27.73

26.61

26.61

26.61

27.16

27.16

27.16

27.77

27.77

27.77

27.53

27.53

27.53

27.29

27.29

27.29

27.03

27.03

27.03

26.76

26.76

26.76

45.41

45.41

45.41

70.77

70.77

70.77

70.14

70.14

70.14

69.52

69.52

69.52

48.80

48.80

48.80

30.45

30.45

30.45

26.96

26.96

26.96

23.94

23.94

23.94

22.81

22.81

22.81

21.58

21.58

21.58

22.47

22.47

22.47

23.40

23.40

23.40

19.44

19.44

19.44

16.19

16.19

16.19

14.53

14.53

14.53

12.72

12.72

12.72

7.03

7.03

7.03

0.85

0.85

0.85

2.06

2.06

2.06

3.48

3.48

3.48

7.76

7.76

7.76

12.76

12.76

12.76

7.07

7.07

7.07

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3.81

3.81

3.81

9.68

9.68

9.68

9.08

9.08

EBITDA Margin

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

EBIT Margin

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-