Cathay Pacific Airways Limited - SEHK:293

Profile

Price

HKD$ 10.44

()

Market Cap

HKD$ 67.227B

Shares Out

6439.41 M

Employees

27200

Dividends

Yield

3.78 %

Payout (TTM)

37.85 %

DPS (TTM)

0.63

DPS Growth 3Yr

0 %

DPS Growth 5Yr

103.95 %

DPS Growth 10Yr

118.38 %

FinancialHealth

Cash

Net Debt

HKD$ 60.4B

Debt/Equity (TTM)

108.8 %

Returns(TTM)

ROA

5.2 %

ROE

15.04 %

ROCE

9.38 %

Valuation(TTM)

P/E

7.358

P/B

1.095

P/FCF

6.531 %

Margins(TTM)

Gross

25.03 %

Operating

11.93 %

Pre-Tax

9.26 %

Net

9.09 %

FCFPS

1.599 %

Growth(CAGR)

RevPS 3Yr

0.612 %

RevPS 5Yr

-0.48 %

RevPS 10Yr

-0.425 %

NetIncomePS 3Yr

1.362 %

NetIncomePS 5Yr

1.551 %

NetIncomePS 10Yr

1.283 %

Website

www.cathaypacific.com

Last Price
HKD$ 10.44
5D
-0.191%
1M
9.664%
3M
28.889%
1Y
31.818%

Cathay Pacific Airways Limited shows strong bullish indicators, including a significant capacity recovery, achieving nearly 60% of pre-pandemic levels, and reporting a profit of HKD 4.3 billion in H1 2023. The airline is expanding its network and investing in fleet upgrades and product innovation. However, it faces bearish challenges such as rising operating costs, market competition, and economic uncertainties that could impact profitability. The company is also addressing staffing needs with a recruitment drive. Overall, while Cathay Pacific is on a positive trajectory, it must manage these risks to maintain growth. Investors should closely monitor these dynamics.

Valuation And Growth

Segments

Guidance and Outlook

Bulls - Bears Say

ALL

For the Fiscal Period	Feb-28-2025	Jan-31-2025	Dec-31-2024	Nov-30-2024	Oct-31-2024	Sep-30-2024	Aug-31-2024	Jul-31-2024	Jun-30-2024	May-31-2024	Apr-30-2024	Mar-31-2024	Feb-29-2024	Jan-31-2024	Dec-31-2023	Nov-30-2023	Oct-31-2023	Sep-30-2023	Aug-31-2023	Jul-31-2023	Jun-30-2023	May-31-2023	Apr-30-2023	Mar-31-2023	Feb-28-2023	Jan-31-2023	Dec-31-2022	Nov-30-2022	Oct-31-2022	Sep-30-2022	Aug-31-2022	Jul-31-2022	Jun-30-2022	May-31-2022	Apr-30-2022	Mar-31-2022	Feb-28-2022	Jan-31-2022	Dec-31-2021	Nov-30-2021	Oct-31-2021	Sep-30-2021	Aug-31-2021	Jul-31-2021	Jun-30-2021	May-31-2021	Apr-30-2021	Mar-31-2021	Feb-28-2021	Jan-31-2021	Dec-31-2020	Nov-30-2020	Oct-31-2020	Sep-30-2020	Aug-31-2020	Jul-31-2020	Jun-30-2020	May-31-2020	Apr-30-2020	Mar-31-2020	Feb-29-2020	Jan-31-2020	Dec-31-2019	Nov-30-2019	Oct-31-2019	Sep-30-2019	Aug-31-2019	Jul-31-2019	Jun-30-2019	May-31-2019	Apr-30-2019	Mar-31-2019	Feb-28-2019	Jan-31-2019	Dec-31-2018	Nov-30-2018	Oct-31-2018	Sep-30-2018	Aug-31-2018	Jul-31-2018	Jun-30-2018	May-31-2018	Apr-30-2018	Mar-31-2018	Feb-28-2018	Jan-31-2018	Dec-31-2017	Nov-30-2017	Oct-31-2017	Sep-30-2017	Aug-31-2017	Jul-31-2017	Jun-30-2017	May-31-2017	Apr-30-2017	Mar-31-2017	Feb-28-2017	Jan-31-2017	Dec-31-2016	Nov-30-2016	Oct-31-2016	Sep-30-2016	Aug-31-2016	Jul-31-2016	Jun-30-2016	May-31-2016	Apr-30-2016	Mar-31-2016	Feb-29-2016	Jan-31-2016	Dec-31-2015	Nov-30-2015	Oct-31-2015	Sep-30-2015	Aug-31-2015	Jul-31-2015	Jun-30-2015	May-31-2015	Apr-30-2015	Mar-31-2015	Feb-28-2015	Jan-31-2015	Dec-31-2014	Nov-30-2014	Oct-31-2014	Sep-30-2014	Aug-31-2014	Jul-31-2014	Jun-30-2014	May-31-2014	Apr-30-2014	Mar-31-2014	Feb-28-2014	Jan-31-2014	Dec-31-2013	Nov-30-2013	Oct-31-2013	Sep-30-2013	Aug-31-2013	Jul-31-2013	Jun-30-2013	May-31-2013	Apr-30-2013	Mar-31-2013	Feb-28-2013	Jan-31-2013	Dec-31-2012	Nov-30-2012	Oct-31-2012	Sep-30-2012	Aug-31-2012	Jul-31-2012	Jun-30-2012	May-31-2012	Apr-30-2012	Mar-31-2012	Feb-29-2012	Jan-31-2012	Dec-31-2011	Nov-30-2011	Oct-31-2011	Sep-30-2011	Aug-31-2011	Jul-31-2011	Jun-30-2011	May-31-2011	Apr-30-2011	Mar-31-2011	Feb-28-2011	Jan-31-2011	Dec-31-2010	Nov-30-2010	Oct-31-2010	Sep-30-2010	Aug-31-2010	Jul-31-2010	Jun-30-2010	May-31-2010	Apr-30-2010	Mar-31-2010	Feb-28-2010	Jan-31-2010	Dec-31-2009	Nov-30-2009	Oct-31-2009	Sep-30-2009	Aug-31-2009	Jul-31-2009	Jun-30-2009	May-31-2009	Apr-30-2009	Mar-31-2009	Feb-28-2009	Jan-31-2009	Dec-31-2008	Nov-30-2008	Oct-31-2008	Sep-30-2008	Aug-31-2008	Jul-31-2008	Jun-30-2008	May-31-2008	Apr-30-2008	Mar-31-2008	Feb-29-2008	Jan-31-2008	Dec-31-2007	Nov-30-2007	Oct-31-2007	Sep-30-2007	Aug-31-2007	Jul-31-2007	Jun-30-2007	May-31-2007	Apr-30-2007	Mar-31-2007	Feb-28-2007	Jan-31-2007	Dec-31-2006	Nov-30-2006	Oct-31-2006	Sep-30-2006	Aug-31-2006	Jul-31-2006	Jun-30-2006	May-31-2006	Apr-30-2006	Mar-31-2006	Feb-28-2006	Jan-31-2006	Dec-31-2005	Nov-30-2005	Oct-31-2005	Sep-30-2005	Aug-31-2005	Jul-31-2005	Jun-30-2005	May-31-2005	Apr-30-2005	Mar-31-2005	Feb-28-2005	Jan-31-2005	Dec-31-2004	Nov-30-2004	Oct-31-2004	Sep-30-2004	Aug-31-2004	Jul-31-2004	Jun-30-2004	May-31-2004	Apr-30-2004	Mar-31-2004	Feb-29-2004	Jan-31-2004	Dec-31-2003	Nov-30-2003	Oct-31-2003	Sep-30-2003	Aug-31-2003	Jul-31-2003	Jun-30-2003	May-31-2003	Apr-30-2003	Mar-31-2003	Feb-28-2003	Jan-31-2003	Dec-31-2002	Nov-30-2002	Oct-31-2002	Sep-30-2002	Aug-31-2002	Jul-31-2002	Jun-30-2002	May-31-2002	Apr-30-2002	Mar-31-2002	Feb-28-2002	Jan-31-2002	Dec-31-2001	Nov-30-2001	Oct-31-2001	Sep-30-2001	Aug-31-2001	Jul-31-2001	Jun-30-2001	May-31-2001	Apr-30-2001	Mar-31-2001	Feb-28-2001	Jan-31-2001	Dec-31-2000	Nov-30-2000	Oct-31-2000	Sep-30-2000	Aug-31-2000	Jul-31-2000	Jun-30-2000	May-31-2000	Apr-30-2000	Mar-31-2000	Feb-29-2000	Jan-31-2000
Valuation Multiples
TEV/LTM Unlevered FCF	10.42	10.48	9.92	10.02	9.08	9.23	8.99	4.76	4.71	4.77	4.85	8.92	3.74	3.63	3.67	3.61	3.61	3.65	3.71	6.48	6.22	5.96	6.09	14.66	9.82	9.86	10.19	9.98	9.54	10.08	10.02	18.27	18.66	18.34	18.07	-	-	-	-	-	-	-	-	-	-	-	-	-	48.38	45.66	48.32	48.52	44.05	44.25	46.38	13.64	14.82	15.01	15.70	72.33	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22.30	21.43	21.09	21.39	21.11	21.70	22.06	57.63	54.50	56.55	57.14	-	-	-	-	-	-	-	-	63.56	65.10	66.81	67.06	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7.80	7.79	7.05	7.13	7.40	6.86	7.90	17.66	17.63	18.11	18.68	18.11	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26.02	25.74	27.84	27.65	26.39	16.86	17.76	20.36	20.41	22.51	21.08	20.41	21.45	20.48	21.62	21.24	-	15.46	15.90	15.25	14.76	13.69	12.96	11.94	20.48	20.09	19.10	20.40	20.09	8.93	8.80	8.48	8.43	7.78	8.60	8.90	11.91	11.71	11.67	12.17	-	-	-	-	-	-	-	-	89.77	93.93	92.63	91.07	100.18	-	-	-	-	-	-	-	7.35	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14.72	14.89	15.00	16.27	15.77	-	-	-	-	-	-	-	23.21	20.99	20.47	20.53	17.68	-	-
Market Cap/LTM Levered FCF	7.74	7.81	7.10	7.22	6.02	6.21	5.91	2.67	2.61	2.68	2.76	5.35	1.86	1.75	1.79	1.73	1.72	1.76	1.83	3.00	2.73	2.43	2.58	6.47	4.13	4.17	4.56	4.31	3.81	4.43	4.37	8.58	9.07	8.66	8.32	-	-	-	-	-	-	-	-	-	-	-	-	-	51.28	42.59	51.07	51.71	37.47	38.11	44.87	3.73	5.35	5.61	6.56	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14.00	12.95	12.53	12.90	12.55	13.27	13.71	52.56	47.22	50.72	51.72	-	-	-	-	-	-	-	-	64.57	67.10	69.92	70.34	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5.92	5.90	5.12	5.21	5.49	4.92	6.02	15.85	15.81	16.36	17.01	16.36	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	43.83	43.25	47.73	47.32	44.62	19.11	20.35	23.99	24.05	26.99	24.99	24.05	23.24	21.95	23.46	22.96	-	17.50	18.05	17.23	16.62	15.25	14.34	13.04	26.98	26.36	24.81	26.84	26.36	8.47	8.32	7.94	7.89	7.12	8.09	8.44	12.10	11.85	11.81	12.44	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7.64	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26.05	26.42	26.67	29.56	28.43	-	-	-	-	-	-	-	45.15	39.78	38.54	38.68	31.79	-	-
P/LTM Normalized EPS	12.60	12.72	11.56	11.76	9.81	10.12	9.63	11.82	11.58	11.87	12.24	14.02	62.43	58.67	60.07	58.01	57.86	59.19	61.54	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15.66	22.46	23.54	27.52	25.72	14.27	14.02	16.41	14.90	14.27	13.96	14.56	27.33	28.81	27.53	32.56	33.89	93.71	85.48	79.09	80.08	70.71	83.77	83.06	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13.93	12.88	12.46	12.83	12.49	13.20	13.64	11.38	10.22	10.98	11.19	12.12	14.36	14.10	15.54	15.84	17.88	16.81	16.21	32.35	33.61	35.03	35.24	31.64	32.14	33.43	31.21	31.55	26.85	26.41	26.60	29.65	29.17	28.44	29.49	29.13	42.13	42.93	43.73	43.78	41.01	40.53	35.46	74.96	70.78	75.59	71.20	69.32	44.21	45.99	43.42	41.59	42.87	38.53	38.60	13.03	12.64	12.16	13.35	14.59	9.25	9.22	8.00	8.14	8.59	7.69	9.42	9.19	9.17	9.49	9.86	9.49	14.80	16.06	17.54	18.52	17.05	17.21	15.68	30.07	26.94	26.80	28.58	28.44	-	-	-	-	-	-	-	-	-	-	-	-	11.33	12.75	12.16	10.49	13.01	18.27	20.31	12.32	12.16	13.42	13.30	12.52	17.22	18.34	21.63	21.68	24.33	22.53	21.68	24.47	23.11	24.70	24.17	23.61	28.54	29.45	28.10	27.11	24.88	23.39	21.28	20.40	19.93	18.76	20.30	19.93	16.22	15.94	15.21	15.09	13.63	15.49	16.16	16.07	15.74	15.68	16.51	16.77	16.31	15.97	16.77	15.74	15.40	15.23	15.63	44.29	46.84	46.05	45.09	50.67	48.96	44.01	45.56	46.33	45.87	40.46	41.70	13.68	62.15	58.30	55.64	56.23	64.52	68.96	63.04	67.18	64.81	148.07	169.12	169.82	16.75	17.45	18.93	16.61	16.40	16.12	14.02	13.11	11.07	9.39	12.06	11.19	11.35	11.46	12.69	12.21	14.96	15.60	18.49	17.78	18.16	18.36	19.45	47.61	41.95	40.65	40.79	33.53	-	-
P/LTM EPS	8.84	8.93	8.11	8.26	6.89	7.10	6.76	6.49	6.35	6.51	6.72	7.07	26.51	24.92	25.51	24.64	24.58	25.14	26.14	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12.17	17.45	18.29	21.38	19.31	9.97	9.79	11.46	10.40	9.97	9.75	10.17	18.59	19.59	18.72	22.14	23.05	98.16	89.54	82.84	83.89	74.07	87.75	87.01	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10.24	9.46	9.16	9.43	9.18	9.70	10.02	8.26	7.42	7.97	8.13	8.80	10.22	10.03	11.06	11.27	12.72	11.96	11.53	22.90	23.80	24.80	24.95	22.41	23.26	24.19	22.59	22.83	19.44	19.12	19.25	22.10	21.74	21.20	21.98	21.71	33.26	33.89	34.52	34.56	32.37	31.99	27.99	61.67	58.24	62.19	58.58	57.03	32.40	33.70	31.82	30.48	31.42	28.24	28.29	9.18	8.91	8.57	9.41	10.28	6.05	6.03	5.23	5.33	5.62	5.03	6.16	5.06	5.05	5.22	5.43	5.22	6.64	7.21	7.87	8.31	7.65	7.72	7.04	14.50	12.99	12.93	13.78	13.71	-	-	-	-	-	-	-	-	-	-	-	-	8.47	9.53	9.09	7.84	9.73	13.66	15.19	8.46	8.34	9.21	9.13	8.59	12.37	13.17	15.54	15.57	17.48	16.18	15.57	17.80	16.82	17.98	17.59	17.18	20.02	20.66	19.71	19.01	17.45	16.40	14.92	14.29	13.96	13.14	14.22	13.96	11.34	11.14	10.63	10.55	9.53	10.83	11.30	11.06	10.83	10.79	11.36	11.50	11.19	10.95	11.50	10.80	10.56	10.44	10.72	35.82	37.89	37.24	36.47	40.98	39.87	35.85	37.10	37.73	37.36	32.95	33.96	9.22	46.63	43.75	41.75	42.19	48.41	51.74	47.30	50.41	48.63	53.49	61.09	61.35	9.73	10.14	10.99	9.65	9.53	9.36	8.14	7.61	6.43	5.46	7.00	7.07	7.18	7.24	8.03	7.72	9.34	9.74	11.54	11.10	11.34	11.46	12.14	25.63	22.58	21.88	21.95	18.05	-	-
P/BV	1.09	1.10	1.00	1.02	0.85	0.88	0.83	0.88	0.86	0.88	0.91	0.95	1.21	1.14	1.17	1.13	1.12	1.15	1.20	1.28	1.16	1.04	1.10	1.10	1.02	1.03	1.12	1.06	0.94	1.09	1.07	0.99	1.05	1.00	0.96	0.94	0.89	0.83	0.82	0.80	0.92	0.84	0.83	0.75	0.79	0.80	0.82	0.87	0.57	0.48	0.57	0.58	0.42	0.43	0.50	0.33	0.47	0.49	0.58	0.52	0.63	0.62	0.72	0.66	0.63	0.62	0.64	0.68	0.72	0.69	0.81	0.85	0.80	0.73	0.67	0.68	0.60	0.71	0.71	0.78	0.79	0.82	0.81	0.87	0.98	0.92	0.90	0.89	0.99	0.87	0.86	0.87	0.86	0.81	0.80	0.80	0.89	0.82	0.79	0.82	0.79	0.84	0.87	1.03	0.93	1.00	1.02	1.10	0.89	0.87	0.96	0.98	1.11	1.04	1.00	1.39	1.45	1.51	1.52	1.36	1.13	1.17	1.09	1.10	0.94	0.92	0.93	0.92	0.91	0.88	0.92	0.90	1.07	1.09	1.11	1.12	1.04	1.03	0.90	0.99	0.93	1.00	0.94	0.91	1.07	1.11	1.05	1.00	1.03	0.93	0.93	0.91	0.88	0.84	0.93	1.01	1.10	1.10	0.95	0.97	1.02	0.92	1.12	1.31	1.31	1.35	1.40	1.35	1.46	1.59	1.73	1.83	1.68	1.70	1.55	1.61	1.44	1.44	1.53	1.52	1.50	1.33	1.51	1.38	1.33	1.28	1.17	1.24	1.10	1.11	0.92	0.79	0.67	0.75	0.71	0.62	0.76	1.07	1.19	1.17	1.16	1.28	1.27	1.19	1.37	1.46	1.72	1.72	1.93	1.79	1.72	1.78	1.68	1.80	1.76	1.72	1.81	1.87	1.79	1.72	1.58	1.49	1.35	1.35	1.31	1.24	1.34	1.31	1.44	1.42	1.35	1.34	1.21	1.38	1.44	1.48	1.45	1.45	1.52	1.56	1.51	1.48	1.56	1.46	1.43	1.41	1.45	1.50	1.58	1.56	1.52	1.71	1.80	1.62	1.68	1.70	1.69	1.49	1.53	1.14	1.14	1.07	1.02	1.03	1.18	1.26	1.15	1.23	1.18	1.12	1.28	1.29	1.21	1.26	1.37	1.20	1.19	1.17	1.01	0.95	0.80	0.68	0.87	1.11	1.13	1.14	1.26	1.21	1.35	1.41	1.67	1.61	1.64	1.66	1.76	2.05	1.81	1.75	1.76	1.45	-	-
P/Tangible BV	1.43	1.44	1.31	1.33	1.11	1.14	1.09	1.15	1.13	1.16	1.20	1.26	1.80	1.69	1.73	1.67	1.67	1.71	1.77	1.92	1.74	1.55	1.65	1.64	1.46	1.48	1.61	1.53	1.35	1.57	1.55	1.39	1.47	1.40	1.34	1.32	1.27	1.18	1.16	1.15	1.31	1.19	1.19	1.04	1.09	1.11	1.14	1.21	0.83	0.69	0.82	0.83	0.60	0.61	0.72	0.43	0.62	0.65	0.76	0.69	0.77	0.75	0.88	0.80	0.77	0.75	0.78	0.83	0.87	0.83	0.98	1.02	0.96	0.88	0.81	0.82	0.73	0.86	0.85	0.96	0.97	1.01	1.00	1.07	1.24	1.16	1.14	1.13	1.25	1.11	1.09	1.08	1.07	1.01	0.99	1.00	1.12	1.04	1.01	1.03	1.01	1.06	1.10	1.33	1.19	1.28	1.31	1.41	1.10	1.08	1.19	1.21	1.37	1.29	1.24	1.74	1.81	1.89	1.90	1.70	1.34	1.40	1.31	1.32	1.12	1.10	1.11	1.09	1.07	1.05	1.08	1.07	1.29	1.31	1.34	1.34	1.25	1.24	1.08	1.18	1.12	1.19	1.12	1.09	1.28	1.33	1.26	1.21	1.24	1.12	1.12	1.07	1.04	1.00	1.10	1.20	1.30	1.29	1.12	1.14	1.20	1.08	1.32	1.54	1.53	1.58	1.65	1.58	1.75	1.89	2.07	2.18	2.01	2.03	1.85	1.98	1.77	1.76	1.88	1.87	1.89	1.68	1.90	1.74	1.67	1.61	1.48	1.55	1.38	1.40	1.16	0.99	0.79	0.89	0.85	0.74	0.91	1.28	1.42	1.39	1.37	1.51	1.50	1.41	1.63	1.74	2.05	2.05	2.30	2.13	2.05	2.13	2.01	2.15	2.10	2.05	1.83	1.88	1.80	1.73	1.59	1.50	1.36	1.36	1.32	1.25	1.35	1.32	1.45	1.43	1.36	1.35	1.22	1.39	1.45	1.50	1.47	1.46	1.54	1.58	1.53	1.50	1.58	1.48	1.45	1.43	1.47	1.52	1.60	1.58	1.54	1.73	1.83	1.64	1.70	1.73	1.71	1.51	1.56	1.16	1.16	1.09	1.04	1.05	1.20	1.29	1.18	1.25	1.21	1.14	1.30	1.31	1.23	1.28	1.39	1.22	1.20	1.18	1.03	0.96	0.81	0.69	0.88	1.13	1.14	1.15	1.28	1.23	1.35	1.41	1.67	1.61	1.64	1.66	1.76	2.05	1.81	1.75	1.76	1.45	-	-
TEV/LTM Total Revenue	1.14	1.15	1.09	1.10	1.00	1.01	0.99	1.11	1.10	1.12	1.13	1.25	1.56	1.52	1.53	1.51	1.51	1.52	1.55	2.65	2.55	2.44	2.49	2.70	2.80	2.81	2.91	2.85	2.72	2.88	2.86	3.13	3.19	3.14	3.09	3.30	3.97	3.89	3.87	3.85	4.01	3.90	3.90	2.85	2.89	2.91	2.93	3.26	1.72	1.62	1.72	1.73	1.57	1.57	1.65	0.96	1.05	1.06	1.11	1.13	1.06	1.05	1.11	1.07	1.06	1.05	1.06	0.92	0.94	0.92	1.00	1.08	1.03	0.99	0.95	0.96	0.91	0.98	0.97	1.10	1.11	1.13	1.12	1.36	1.16	1.12	1.11	1.10	1.16	1.10	1.09	1.06	1.06	1.02	1.02	1.24	0.89	0.86	0.84	0.86	0.85	0.87	0.88	0.90	0.85	0.89	0.90	1.13	0.89	0.88	0.92	0.93	1.00	0.96	1.12	1.10	1.13	1.16	1.16	1.28	1.08	1.10	1.06	1.06	0.97	0.96	0.96	0.99	0.98	0.96	0.98	1.23	1.00	1.01	1.02	1.02	0.98	0.97	0.90	0.94	0.91	0.95	0.92	1.13	0.88	0.90	0.87	0.85	0.86	0.81	0.81	0.77	0.76	0.74	0.79	1.02	0.89	0.89	0.80	0.81	0.84	0.78	0.90	1.01	1.00	1.03	1.06	1.03	1.35	1.43	1.52	1.58	1.49	1.50	1.40	1.41	1.30	1.30	1.36	1.35	1.17	1.08	1.17	1.10	1.08	1.05	1.00	0.80	0.74	0.75	0.66	0.60	0.60	0.65	0.63	0.57	0.66	0.84	0.91	1.00	0.98	1.07	1.06	1.01	1.15	1.21	1.39	1.39	1.54	1.44	1.39	1.63	1.56	1.65	1.62	1.81	1.36	1.40	1.35	1.30	1.21	1.14	1.05	1.11	1.08	1.03	1.10	1.08	1.39	1.37	1.32	1.32	1.21	1.34	1.39	1.54	1.51	1.51	1.57	1.69	1.65	1.62	1.69	1.60	1.57	1.56	1.59	1.95	2.04	2.01	1.98	2.18	2.15	1.97	2.03	2.06	2.04	1.84	1.89	1.40	1.61	1.54	1.49	1.50	1.66	1.74	1.63	1.71	1.66	1.63	1.79	1.80	1.49	1.54	1.64	1.48	1.47	1.45	1.30	1.24	1.10	0.98	1.16	1.30	1.31	1.32	1.43	1.39	1.61	1.66	1.90	1.84	1.87	1.89	1.98	2.40	2.17	2.11	2.12	1.83	1.92	2.11
Market Cap/LTM Total Revenue	0.67	0.67	0.61	0.62	0.52	0.53	0.51	0.56	0.54	0.56	0.58	0.61	0.72	0.67	0.69	0.67	0.67	0.68	0.71	1.11	1.01	0.90	0.95	0.95	1.03	1.04	1.14	1.07	0.95	1.10	1.09	1.15	1.21	1.16	1.11	1.09	1.28	1.19	1.17	1.15	1.31	1.20	1.20	0.85	0.90	0.92	0.94	0.99	0.57	0.47	0.57	0.58	0.42	0.42	0.50	0.19	0.28	0.29	0.34	0.31	0.35	0.35	0.41	0.37	0.35	0.35	0.36	0.39	0.41	0.40	0.47	0.49	0.50	0.45	0.42	0.42	0.37	0.44	0.44	0.49	0.50	0.52	0.51	0.55	0.56	0.53	0.51	0.51	0.56	0.50	0.49	0.52	0.51	0.48	0.48	0.48	0.46	0.42	0.41	0.42	0.41	0.44	0.45	0.48	0.44	0.47	0.48	0.52	0.46	0.45	0.50	0.51	0.58	0.54	0.52	0.68	0.71	0.74	0.74	0.67	0.67	0.69	0.65	0.65	0.56	0.55	0.55	0.58	0.57	0.55	0.57	0.57	0.63	0.64	0.65	0.65	0.61	0.60	0.53	0.57	0.54	0.57	0.54	0.53	0.57	0.59	0.56	0.53	0.55	0.49	0.49	0.51	0.50	0.48	0.53	0.57	0.64	0.64	0.55	0.56	0.59	0.53	0.65	0.79	0.79	0.82	0.85	0.82	0.92	1.00	1.09	1.15	1.06	1.07	0.97	1.02	0.91	0.91	0.97	0.96	0.76	0.67	0.76	0.69	0.67	0.64	0.59	0.55	0.49	0.49	0.41	0.35	0.38	0.43	0.41	0.36	0.44	0.62	0.69	0.79	0.78	0.86	0.85	0.80	0.94	1.00	1.18	1.18	1.32	1.22	1.18	1.33	1.26	1.35	1.32	1.29	1.22	1.26	1.20	1.16	1.06	1.00	0.91	0.92	0.90	0.85	0.92	0.90	1.13	1.11	1.06	1.05	0.95	1.08	1.12	1.25	1.22	1.22	1.28	1.40	1.36	1.33	1.40	1.31	1.28	1.27	1.30	1.57	1.66	1.63	1.60	1.80	1.77	1.59	1.65	1.68	1.66	1.46	1.51	1.10	1.16	1.09	1.04	1.05	1.21	1.29	1.18	1.26	1.21	1.15	1.32	1.32	1.16	1.21	1.31	1.15	1.14	1.12	0.97	0.91	0.77	0.65	0.84	1.01	1.02	1.03	1.15	1.10	1.24	1.29	1.53	1.47	1.50	1.52	1.61	1.93	1.70	1.65	1.66	1.36	1.36	1.55
TEV/LTM EBITDA	4.73	4.75	4.50	4.54	4.12	4.18	4.08	4.54	4.49	4.55	4.62	4.95	7.36	7.15	7.23	7.12	7.11	7.18	7.31	16.05	15.42	14.76	15.08	15.22	11.87	11.91	12.32	12.06	11.53	12.18	12.12	14.71	15.03	14.77	14.55	14.69	227.35	222.31	221.37	220.43	229.55	223.05	222.84	154.38	156.84	157.73	159.00	106.79	15.22	14.36	15.20	15.26	13.86	13.92	14.59	5.51	5.99	6.06	6.34	6.31	5.61	5.58	5.90	5.70	5.61	5.57	5.65	7.00	7.17	7.03	7.58	7.94	8.67	8.30	8.02	8.06	7.64	8.23	8.19	11.41	11.50	11.69	11.63	15.30	14.59	14.15	13.99	13.92	14.64	13.82	13.72	10.29	10.24	9.94	9.86	11.57	5.97	5.74	5.65	5.73	5.66	5.81	5.91	5.43	5.14	5.33	5.39	6.97	6.11	6.06	6.38	6.44	6.90	6.66	7.84	8.84	9.06	9.30	9.33	11.00	8.77	8.99	8.62	8.67	7.88	7.81	7.84	8.44	8.36	8.24	8.41	11.06	9.44	9.55	9.66	9.67	9.28	9.21	8.50	10.37	10.02	10.42	10.06	13.08	9.11	9.35	9.01	8.76	8.94	8.36	8.37	5.71	5.60	5.46	5.81	7.39	4.73	4.72	4.27	4.33	4.49	4.16	4.79	4.52	4.51	4.63	4.78	4.63	7.21	7.63	8.12	8.45	7.96	8.01	7.51	9.08	8.40	8.37	8.75	9.15	-	-	-	-	-	-	-	-	-	-	-	-	4.70	5.08	4.93	4.48	5.15	6.54	7.08	5.50	5.45	5.89	5.85	5.58	6.89	7.26	8.33	8.34	9.20	8.62	8.34	10.11	9.65	10.19	10.01	11.61	8.81	9.06	8.69	8.42	7.80	7.39	6.81	6.72	6.59	6.27	6.69	6.59	6.42	6.33	6.09	6.06	5.59	6.18	6.40	6.37	6.26	6.25	6.51	6.34	6.19	6.09	6.34	6.02	5.91	5.86	5.98	9.26	9.69	9.55	9.39	10.33	10.19	9.34	9.60	9.74	9.66	8.73	8.94	5.13	7.94	7.58	7.34	7.39	8.15	8.56	8.02	8.40	8.18	9.87	10.87	10.90	6.60	6.81	7.26	6.55	6.49	6.40	5.76	5.48	4.85	4.34	5.15	4.93	4.98	5.02	5.44	5.28	6.16	6.36	7.28	7.05	7.18	7.24	7.58	11.22	10.15	9.90	9.93	8.55	12.99	14.27
TEV/LTM EBIT	8.82	8.87	8.39	8.48	7.68	7.80	7.61	9.19	9.09	9.20	9.35	10.26	24.42	23.75	24.00	23.63	23.60	23.84	24.26	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20.46	22.23	22.51	23.55	24.35	16.06	15.97	16.87	16.30	16.06	15.95	16.17	19.10	19.54	19.16	20.66	22.46	30.74	29.44	28.43	28.58	27.10	29.17	29.06	186.63	188.13	191.14	190.19	229.27	-	-	-	-	-	-	-	64.54	64.23	62.38	61.86	75.26	12.74	12.25	12.05	12.23	12.07	12.40	12.61	10.72	10.14	10.52	10.63	13.45	13.30	13.17	13.87	14.01	15.00	14.48	16.88	22.46	23.00	23.61	23.70	26.08	22.01	22.55	21.62	21.76	19.77	19.58	19.66	21.54	21.34	21.03	21.47	26.98	26.76	27.08	27.40	27.42	26.31	26.12	24.09	38.61	37.32	38.81	37.45	46.07	27.91	28.63	27.59	26.84	27.37	25.60	25.63	10.57	10.36	10.10	10.74	13.86	7.34	7.33	6.63	6.71	6.97	6.45	7.44	6.61	6.60	6.77	6.99	6.77	11.71	12.39	13.19	13.72	12.93	13.01	12.19	19.90	18.41	18.34	19.19	19.12	-	-	-	-	-	-	-	-	-	-	-	-	8.78	9.48	9.19	8.36	9.61	12.21	13.21	8.53	8.44	9.13	9.06	8.65	11.71	12.33	14.14	14.17	15.63	14.64	14.17	17.98	17.17	18.12	17.80	19.95	16.81	17.29	16.58	16.06	14.88	14.10	12.99	12.75	12.51	11.90	12.70	12.51	10.93	10.78	10.38	10.32	9.52	10.54	10.90	10.71	10.53	10.50	10.95	10.87	10.63	10.44	10.87	10.32	10.14	10.05	10.26	24.28	25.41	25.05	24.63	27.09	27.38	25.10	25.81	26.17	25.95	23.46	24.03	9.11	26.53	25.35	24.53	24.71	27.26	28.63	26.81	28.08	27.35	48.53	53.43	53.59	12.06	12.45	13.28	11.98	11.86	11.70	10.52	10.01	8.87	7.93	9.42	8.05	8.14	8.20	8.89	8.62	9.88	10.21	11.68	11.32	11.52	11.62	12.17	23.48	21.23	20.71	20.77	17.88	60.58	66.54
Margin Analysis
Gross Margin	31.30	31.30	31.30	31.30	31.30	31.30	31.30	33.13	33.13	35.07	35.07	35.07	37.14	37.14	37.14	39.82	39.82	39.82	39.82	39.95	39.95	40.00	40.00	40.00	39.99	39.99	39.99	39.98	39.98	39.98	37.49	37.49	37.49	34.85	34.85	34.85	28.02	28.02	28.02	19.15	19.15	19.15	15.54	15.54	15.54	12.84	12.84	12.84	15.95	15.95	15.95	17.75	17.75	17.75	20.48	20.48	20.48	22.54	22.54	22.54	22.00	22.00	22.00	21.48	21.48	21.48	19.85	19.85	19.85	18.21	18.21	18.21	16.73	16.73	16.73	15.15	15.15	15.15	13.92	13.92	13.92	12.60	12.60	12.60	12.38	12.38	12.38	12.16	12.16	12.16	13.13	13.13	13.13	14.10	14.10	14.10	16.17	16.17	16.17	18.13	18.13	18.13	18.94	18.94	18.94	19.71	19.71	19.71	19.08	19.08	19.08	18.48	18.48	18.48	18.06	18.06	18.06	17.66	17.66	17.66	17.69	17.69	17.69	17.73	17.73	17.73	17.32	17.32	17.32	16.89	16.89	16.89	16.45	16.45	16.45	16.00	16.00	16.00	15.11	15.11	15.11	14.21	14.21	14.21	14.41	14.41	14.41	14.61	14.61	14.61	15.89	15.89	15.89	17.20	17.20	17.20	19.67	19.67	19.67	22.24	22.24	22.24	24.12	24.12	24.12	26.11	26.11	26.11	23.69	23.69	23.69	20.90	20.90	20.90	21.15	21.15	21.15	21.45	21.45	21.45	13.80	13.80	13.80	6.98	6.98	6.98	4.84	4.84	4.84	2.98	2.98	2.98	10.97	10.97	10.97	19.29	19.29	19.29	22.05	22.05	22.05	25.09	25.09	25.09	25.05	25.05	25.05	25.00	25.00	25.00	24.75	24.75	24.75	24.47	24.47	24.47	22.97	22.97	22.97	21.28	21.28	21.28	21.95	21.95	21.95	22.65	22.65	22.65	25.41	25.41	25.41	28.40	28.40	28.40	29.28	29.28	29.28	30.25	30.25	30.25	31.22	31.22	31.22	32.34	32.34	32.34	30.04	30.04	30.04	27.17	27.17	27.17	27.08	27.08	27.08	26.99	26.99	26.99	30.04	30.04	30.04	32.80	32.80	32.80	30.90	30.90	30.90	28.81	28.81	28.81	26.82	26.82	26.82	24.85	24.85	24.85	27.21	27.21	27.21	29.31	29.31	29.31	31.46	31.46	31.46	33.59	33.59	33.59	33.59	33.59	33.59	33.60	33.60	33.60	32.03	32.03	32.03	30.30	30.30	30.30	27.73	27.73
SG&A Margin	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.15	-0.15	-0.15	-0.36	-0.36	-0.36	-0.15	-0.15	-0.15	-	-	-	0.34	0.34	0.34	0.54	0.54	0.54	0.72	0.72	0.72	0.87	0.87	0.87	1.19	1.19	1.19	1.50	1.50	1.50	1.68	1.68	1.68	1.87	1.87	1.87	1.88	1.88	1.88	1.90	1.90	1.90	1.89	1.89	1.89	1.89	1.89	1.89	1.88	1.88	1.88	1.87	1.87	1.87	1.90	1.90	1.90	1.93	1.93	1.93	1.90	1.90	1.90	1.88	1.88	1.88	1.83	1.83	1.83	1.77	1.77	1.77	1.74	1.74	1.74	1.71	1.71	1.71	1.71	1.71	1.71	1.72	1.72	1.72	1.75	1.75	1.75	1.78	1.78	1.78	1.76	1.76	1.76	1.74	1.74	1.74	1.71	1.71	1.71	1.67	1.67	1.67	1.66	1.66	1.66	1.64	1.64	1.64	1.61	1.61	1.61	1.59	1.59	1.59	1.59	1.59	1.59	1.59	1.59	1.59	1.58	1.58	1.58	1.58	1.58	1.58	1.59	1.59	1.59	1.61	1.61	1.61	0.73	0.73