AER
Valuation Ratios
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Price to Earnings | 8.65 | 5.31 | -19.31 | 9.58 |
| Price to Sales | 2.27 | 2.20 | 2.00 | 2.09 |
| Book Value Per Common Share | 92.00 | 81.92 | 65.54 | 67.53 |
| Price to Book | 1.04 | 0.91 | 0.89 | 0.97 |
| Price to Operating Cash Flow | 3.34 | 3.17 | 2.71 | 2.59 |
| Price to Free Cash Flow | -15.40 | -17.16 | 10.79 | 5.03 |
| Enterprise Value to EBITDA | 37987.98 | 33060.47 | 34171.84 | 59005.39 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Price to Earnings | 17.07 | 16.16 | 28.54 | 47.36 | |
| Price to Sales | 8.99 | 10.79 | 8.83 | 8.63 | 9.12 |
| Book Value Per Common Share | 106.63 | 100.65 | 94.84 | 92.00 | 88.29 |
| Price to Book | 1.13 | 1.16 | 1.08 | 1.04 | 1.07 |
| Price to Operating Cash Flow | 13.78 | 15.29 | 13.74 | 13.92 | 12.99 |
| Price to Free Cash Flow | 42.81 | 23.63 | -15.73 | -52.04 | -48.54 |
| Enterprise Value to EBITDA | 128650.92 | 189263.20 | 134209.48 | 145302.34 | 173557.72 |
Earnings Data
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Earning YoY | -20.94 | |||
| Revenue YoY | 5.49 | 8.08 | 52.84 | |
| EBITDA YoY | 3.37 | 8.45 | 54.27 | |
| Net Profit YoY | -33.08 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Earning YoY | -2.07 | 102.23 | -14.16 | ||
| Revenue YoY | 22.36 | -9.16 | 0.23 | 6.37 | |
| EBITDA YoY | 45.23 | -20.13 | 12.18 | 18.81 | |
| Net Profit YoY | -3.45 | 95.88 | -4.22 | 78.98 |
Financial Strength
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Cash Per Common Share | 6.37 | 7.26 | 6.64 | 11.81 |
| Quick Ratio | 2.73 | 3.37 | 3.75 | 3.40 |
| Current Ratio | 3.17 | 3.73 | 4.12 | 3.71 |
| Debt to Equity | 3.16 | 3.30 | 3.31 | 3.48 |
| Long-Term Debt to Equity | 3.06 | 3.20 | 3.22 | 3.38 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Cash Per Common Share | 10.58 | 15.50 | 5.89 | 6.47 | 20.02 |
| Quick Ratio | 2.69 | 3.55 | 2.63 | 2.73 | 4.02 |
| Current Ratio | 3.13 | 3.97 | 3.12 | 3.17 | 4.50 |
| Debt to Equity | 2.96 | 3.10 | 3.22 | 3.16 | 3.41 |
| Long-Term Debt to Equity | 2.87 | 3.01 | 3.12 | 3.06 | 3.31 |
Profitability
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| ROA | 2.94 | 4.40 | -1.04 | 1.34 |
| ROE | 12.21 | 18.90 | -4.48 | 6.01 |
| Gross Margin | 32.71 | 33.47 | 31.49 | 28.36 |
| Operating Margin | 26.59 | 27.34 | 25.79 | 21.43 |
| EBITDA Margin | 58.86 | 60.07 | 59.86 | 59.31 |
| Net Profit Margin | 26.24 | 41.37 | -10.35 | 21.80 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| ROA | 1.69 | 1.71 | 0.89 | 0.94 | 0.51 |
| ROE | 6.70 | 7.02 | 3.74 | 3.91 | 2.24 |
| Gross Margin | 46.12 | 32.03 | 40.14 | 33.60 | 25.87 |
| Operating Margin | 40.53 | 22.98 | 34.69 | 27.67 | 19.65 |
| EBITDA Margin | 69.36 | 58.43 | 66.46 | 59.38 | 53.17 |
| Net Profit Margin | 52.66 | 66.74 | 30.95 | 32.39 | 19.25 |
Dividends
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Dividend Yield | 0.00 | |||
| Dividend Payout Ratio | 6.67 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Dividend Yield | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Dividend Payout Ratio | 3.82 | 7.13 | 0.87 | 7.48 | 12.80 |
Financial Statements
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Assets | 71,441,976.00 | 71,274,559.00 | 69,726,918.00 | 74,569,768.00 |
| Current Assets | 5,408,295.00 | 6,040,070.00 | 5,608,144.00 | 6,361,413.00 |
| Cash and Short-Term Investments | 1,209,226.00 | 1,627,181.00 | 1,597,147.00 | 1,728,794.00 |
| Cash and Cash Equivalents | 1,209,226.00 | 1,627,181.00 | 1,597,147.00 | 1,728,794.00 |
| Short-Term Investments | 0 | 0 | 0 | 0 |
| Net Receivables | 3,449,625.00 | 3,832,240.00 | 3,502,698.00 | 4,093,714.00 |
| Inventory | 90,915.00 | 85,668.00 | 55,868.00 | 48,584.00 |
| Other Current Assets | 658,529.00 | 494,981.00 | 452,431.00 | 490,321.00 |
| Non-Current Assets | 66,033,681.00 | 65,234,489.00 | 64,118,774.00 | 68,208,355.00 |
| Property, Plant, Equipment Net | 62,081,938.00 | 60,724,362.00 | 59,109,363.00 | 62,507,718.00 |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 2,269,659.00 | 2,893,129.00 | 3,549,663.00 | 4,653,399.00 |
| Long-Term Investments | 1,205,650.00 | 1,058,572.00 | 873,738.00 | 750,341.00 |
| Non-Current Deferred Assets | 261,004.00 | 275,756.00 | 210,334.00 | 121,571.00 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 |
| Liabilities | 54,257,144.00 | 54,685,513.00 | 53,531,868.00 | 57,922,408.00 |
| Current Liabilities | 1,703,610.00 | 1,620,135.00 | 1,359,738.00 | 1,713,304.00 |
| Payables and Expenses | 873,771.00 | 792,610.00 | 812,076.00 | 1,202,589.00 |
| Account Payables | 873,771.00 | 792,610.00 | 812,076.00 | 1,202,589.00 |
| Current Accrued Liabilities | 0 | 0 | 2,503,202.00 | 2,900,651.00 |
| Short-Term Debt | 0 | 0 | 0 | 173,595.00 |
| Other Current Liabilities | 0 | 0 | 0 | 337,120.00 |
| Non-Current Liabilities | 52,553,534.00 | 53,065,378.00 | 52,172,130.00 | 56,209,104.00 |
| Long-Term Debt | 45,350,288.00 | 46,575,986.00 | 46,668,175.00 | 50,378,273.00 |
| Other Non-Current Liabilities | 7,203,246.00 | 6,489,392.00 | 5,503,955.00 | 5,830,831.00 |
| Equity | 17,184,832.00 | 16,589,046.00 | 16,195,050.00 | 16,647,360.00 |
| Shareholders Equity | 17,184,623.00 | 16,588,830.00 | 16,117,507.00 | 16,570,743.00 |
| Capital Stock | 2,558.00 | 2,676.00 | 3,024.00 | 3,024.00 |
| Share Premium | 5,809,276.00 | 6,594,556.00 | 8,586,034.00 | 8,522,694.00 |
| Retained Earnings | 12,755,758.00 | 10,802,599.00 | 7,674,922.00 | 8,410,261.00 |
| Treasury Shares | 1,425,652.00 | 819,305.00 | 254,699.00 | 285,901.00 |
| Accumulated Other Comprehensive Income | 42,683.00 | 8,304.00 | 108,226.00 | -79,335.00 |
| Minority Interest | 209.00 | 216.00 | 77,543.00 | 76,617.00 |
| Debt | 45,350,288.00 | 46,575,986.00 | 46,668,175.00 | 50,378,273.00 |
| Net Debt | 44,085,285.00 | 44,856,722.00 | 44,935,813.00 | 48,475,884.00 |
| Common Shares Outstanding | 186,783.23 | 202,493.17 | 245,931.27 | 245,395.45 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
|---|---|---|---|---|---|
| Revenues | 7,996,644.00 | 7,580,418.00 | 7,013,550.00 | 4,588,930.00 | 0 |
| Cost Of Revenue | 5,381,127.00 | 5,043,458.00 | 4,805,277.00 | 3,287,413.00 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 73,304.00 |
| Interest Expense | 0 | 0 | 0 | 1,230,466.00 | 1,248,225.00 |
| Non-Interest Expense | 488,916.00 | 464,128.00 | 399,530.00 | 317,888.00 | 0 |
| Gross Profit | 2,615,517.00 | 2,536,960.00 | 2,208,273.00 | 1,301,517.00 | 0 |
| Operating Expenses | 488,916.00 | 464,128.00 | 399,530.00 | 317,888.00 | 0 |
| Selling, General and Administrative Expenses | 488,916.00 | 464,128.00 | 399,530.00 | 317,888.00 | 0 |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 22,946.00 |
| Operating Income | 2,126,601.00 | 2,072,832.00 | 1,808,743.00 | 983,629.00 | 0 |
| Net Non-Operating Income | 0 | 5,754.00 | 98,565.00 | 635,075.00 | 9,701.00 |
| EBT | 2,263,373.00 | 3,272,186.00 | -1,002,420.00 | 1,147,917.00 | 0 |
| Income Tax | 323,704.00 | 291,056.00 | -164,097.00 | 162,537.00 | 0 |
| Net Income Including Non-Controlling Interests | 2,098,625.00 | 3,147,845.00 | -721,158.00 | 1,009,431.00 | 0 |
| Net Income Non-Controlling Interests | 7.00 | -11,754.00 | -4,883.00 | -8,924.00 | 0 |
| Net Income | 2,098,632.00 | 3,136,091.00 | -726,041.00 | 1,000,507.00 | 0 |
| EBIT | 2,126,601.00 | 2,072,832.00 | 1,808,743.00 | 983,629.00 | 0 |
| Deprecation and Amortization | 2,580,037.00 | 2,480,578.00 | 2,389,807.00 | 1,737,925.00 | 0 |
| EBITDA | 4,706,638.00 | 4,553,410.00 | 4,198,550.00 | 2,721,554.00 | 0 |
| EPS | 0.01 | 0.01 | -0.00 | 0.01 | 0 |
| Diluted EPS | 0.01 | 0.01 | -0.00 | 0.01 | 0 |
| Average Shares Outstanding Basic | 189,830.81 | 224,216.80 | 240,486.85 | 146,421.19 | 0 |
| Average Shares Outstanding Diluted | 194,489.17 | 227,656.34 | 240,486.85 | 149,005.98 | 0 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Operating Cash Flow | 5,436,643.00 | 5,261,435.00 | 5,170,962.00 | 3,693,822.00 |
| Operating Net Income | 2,098,625.00 | 3,147,845.00 | -721,158.00 | 1,009,431.00 |
| Deprecation and Amortization | 2,580,037.00 | 2,480,578.00 | 2,389,807.00 | 1,737,925.00 |
| Deferred Income Tax | 250,504.00 | 280,069.00 | -9,586.00 | -5,905.00 |
| Share Based Compensation | 111,140.00 | 97,058.00 | 102,848.00 | 96,087.00 |
| Change in Working Capital | 248,544.00 | 148,744.00 | -389,483.00 | 475,242.00 |
| Other Operating Activities | 147,793.00 | -892,859.00 | 3,798,534.00 | 381,042.00 |
| Investing Cash Flow | -3,724,207.00 | -3,182,968.00 | -2,160,499.00 | -23,458,936.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | -6,616,358.00 | -6,232,386.00 | -3,871,572.00 | -1,789,781.00 |
| Net Purchase/Sale of Investments Net | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of Business | 0 | 0 | 0 | -22,493,195.00 |
| Other Investing Activities | 0 | 3,049,418.00 | 1,711,073.00 | 824,040.00 |
| Financing Cash Flow | -2,132,509.00 | -2,011,719.00 | -3,160,815.00 | 20,183,801.00 |
| Net Issuance/Repayment of Debt | -1,158,571.00 | -17,378.00 | -3,762,086.00 | 20,523,152.00 |
| Net Issuance/Repurchase of Equity | -1,520,320.00 | -2,637,589.00 | -17,419.00 | -76,220.00 |
| Dividends Paid | -139,991.00 | 0 | 0 | 0 |
| Other Financing Activities | 686,373.00 | 643,248.00 | 618,690.00 | 0 |
| Net Change in Cash | -420,073.00 | 66,748.00 | -150,352.00 | 418,687.00 |
| Cash at Beginning of Period | 1,825,466.00 | 1,756,770.00 | 1,914,753.00 | 1,495,290.00 |
| Cash at End of Period | 1,401,582.00 | 1,825,466.00 | 1,756,770.00 | 1,914,753.00 |
| Free Cash Flow | -1,179,715.00 | -970,951.00 | 1,299,390.00 | 1,904,041.00 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Assets | 71,938,295.00 | 73,633,947.00 | 72,555,474.00 | 71,441,976.00 | 73,824,890.00 |
| Current Assets | 5,557,872.00 | 6,889,349.00 | 5,330,165.00 | 5,408,295.00 | 7,523,927.00 |
| Cash and Short-Term Investments | 1,814,283.00 | 2,696,068.00 | 1,056,547.00 | 1,209,226.00 | 3,754,539.00 |
| Cash and Cash Equivalents | 1,814,283.00 | 2,696,068.00 | 1,056,547.00 | 1,209,226.00 | 3,754,539.00 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 2,964,773.00 | 3,457,433.00 | 3,426,647.00 | 3,449,625.00 | 2,968,596.00 |
| Inventory | 118,634.00 | 116,153.00 | 109,631.00 | 90,915.00 | 79,952.00 |
| Other Current Assets | 660,182.00 | 619,695.00 | 737,340.00 | 658,529.00 | 720,840.00 |
| Non-Current Assets | 66,380,423.00 | 66,744,598.00 | 67,225,309.00 | 66,033,681.00 | 66,300,963.00 |
| Property, Plant, Equipment Net | 62,296,626.00 | 63,058,423.00 | 63,402,144.00 | 62,081,938.00 | 61,720,366.00 |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 1,889,045.00 | 2,030,669.00 | 2,134,701.00 | 2,269,659.00 | 2,427,008.00 |
| Long-Term Investments | 1,247,275.00 | 1,232,104.00 | 1,250,217.00 | 1,205,650.00 | 1,162,817.00 |
| Non-Current Deferred Assets | 262,150.00 | 263,790.00 | 262,754.00 | 261,004.00 | 279,853.00 |
| Other Non-Current Assets | 685,327.00 | 159,612.00 | 175,493.00 | 215,430.00 | 710,919.00 |
| Liabilities | 53,788,851.00 | 55,686,662.00 | 55,363,175.00 | 54,257,144.00 | 57,072,414.00 |
| Current Liabilities | 1,774,478.00 | 1,735,473.00 | 1,707,510.00 | 1,703,610.00 | 1,671,259.00 |
| Payables and Expenses | 911,523.00 | 890,101.00 | 876,144.00 | 873,771.00 | 858,090.00 |
| Account Payables | 911,523.00 | 890,101.00 | 876,144.00 | 873,771.00 | 858,090.00 |
| Current Accrued Liabilities | 0 | 0 | 0 | 0 | 0 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 862,955.00 | 845,372.00 | 831,366.00 | 829,839.00 | 813,169.00 |
| Non-Current Liabilities | 52,014,373.00 | 53,951,189.00 | 53,655,665.00 | 52,553,534.00 | 55,401,155.00 |
| Long-Term Debt | 44,080,220.00 | 46,162,072.00 | 46,237,854.00 | 45,350,288.00 | 48,421,514.00 |
| Other Non-Current Liabilities | 7,934,153.00 | 7,789,117.00 | 7,417,811.00 | 7,203,246.00 | 6,979,641.00 |
| Equity | 18,149,444.00 | 17,947,285.00 | 17,192,299.00 | 17,184,832.00 | 16,752,476.00 |
| Shareholders Equity | 18,149,243.00 | 17,947,075.00 | 17,192,089.00 | 17,184,623.00 | 16,752,268.00 |
| Capital Stock | 2,349.00 | 2,466.00 | 2,466.00 | 2,558.00 | 2,558.00 |
| Share Premium | 4,187,736.00 | 5,122,322.00 | 5,264,597.00 | 5,809,276.00 | 5,802,351.00 |
| Retained Earnings | 15,730,682.00 | 14,563,612.00 | 13,351,261.00 | 12,755,758.00 | 12,129,365.00 |
| Treasury Shares | 1,717,510.00 | 1,697,801.00 | 1,410,655.00 | 1,425,652.00 | 1,139,955.00 |
| Accumulated Other Comprehensive Income | -54,014.00 | -43,524.00 | -15,580.00 | 42,683.00 | -42,051.00 |
| Minority Interest | 201.00 | 210.00 | 210.00 | 209.00 | 208.00 |
| Debt | 44,080,220.00 | 46,162,072.00 | 46,237,854.00 | 45,350,288.00 | 48,421,514.00 |
| Net Debt | 42,214,488.00 | 43,417,424.00 | 45,130,823.00 | 44,085,285.00 | 44,598,171.00 |
| Common Shares Outstanding | 170,211.91 | 178,309.77 | 181,274.01 | 186,783.23 | 189,731.02 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|
| Revenues | 2,308,571.00 | 1,886,752.00 | 2,077,032.00 | 2,072,282.00 | 1,948,129.00 | 0 |
| Cost Of Revenue | 1,243,941.00 | 1,282,337.00 | 1,243,340.00 | 1,375,936.00 | 1,444,092.00 | 0 |
| Non-Interest Expense | 128,887.00 | 170,830.00 | 113,101.00 | 122,984.00 | 121,307.00 | 0 |
| Gross Profit | 1,064,630.00 | 604,415.00 | 833,692.00 | 696,346.00 | 504,037.00 | 0 |
| Operating Expenses | 128,887.00 | 170,830.00 | 113,101.00 | 122,984.00 | 121,307.00 | 0 |
| Selling, General and Administrative Expenses | 128,887.00 | 170,830.00 | 113,101.00 | 122,984.00 | 121,307.00 | 0 |
| Operating Income | 935,743.00 | 433,585.00 | 720,591.00 | 573,362.00 | 382,730.00 | 0 |
| EBT | 1,366,504.00 | 1,379,523.00 | 715,956.00 | 720,167.00 | 392,008.00 | 0 |
| Income Tax | 198,246.00 | 168,366.00 | 110,973.00 | 92,507.00 | 60,742.00 | 0 |
| Net Income Including Non-Controlling Interests | 1,215,738.00 | 1,259,209.00 | 642,861.00 | 671,219.00 | 375,029.00 | 0 |
| Net Income Non-Controlling Interests | 9.00 | 0 | -1.00 | -1.00 | 5.00 | 0 |
| Net Income | 1,215,747.00 | 1,259,209.00 | 642,860.00 | 671,218.00 | 375,034.00 | 0 |
| EBIT | 935,743.00 | 433,585.00 | 720,591.00 | 573,362.00 | 382,730.00 | 0 |
| Deprecation and Amortization | 665,479.00 | 668,932.00 | 659,735.00 | 657,146.00 | 652,994.00 | 0 |
| EBITDA | 1,601,222.00 | 1,102,517.00 | 1,380,326.00 | 1,230,508.00 | 1,035,724.00 | 0 |
| EPS | 0.01 | 0.01 | 0.00 | 0 | 0.00 | 0.00 |
| Diluted EPS | 0.01 | 0.01 | 0.00 | 0 | 0.00 | 0.00 |
| Average Shares Outstanding Basic | 171,483.56 | 173,960.28 | 179,521.84 | 0 | 187,510.16 | 192,515.76 |
| Average Shares Outstanding Diluted | 174,066.93 | 177,541.22 | 184,605.43 | 0 | 191,886.52 | 196,881.27 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Operating Cash Flow | 1,506,165.00 | 1,331,413.00 | 1,335,037.00 | 1,284,336.00 | 1,367,794.00 |
| Operating Net Income | 1,215,738.00 | 1,259,209.00 | 642,861.00 | 671,219.00 | 375,029.00 |
| Deprecation and Amortization | 665,479.00 | 668,932.00 | 659,735.00 | 657,146.00 | 652,994.00 |
| Deferred Income Tax | 195,581.00 | 169,513.00 | 97,235.00 | 65,916.00 | 35,811.00 |
| Share Based Compensation | 30,274.00 | 72,958.00 | 27,256.00 | 29,417.00 | 24,055.00 |
| Change in Working Capital | 220,361.00 | 73,697.00 | 5,116.00 | 72,760.00 | 36,542.00 |
| Other Operating Activities | -821,268.00 | -912,896.00 | -97,166.00 | -212,122.00 | 243,363.00 |
| Investing Cash Flow | 550,802.00 | 706,175.00 | -2,005,178.00 | -659,198.00 | -1,372,594.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | -1,021,430.00 | -470,081.00 | -2,500,834.00 | -1,627,820.00 | -1,733,703.00 |
| Net Purchase/Sale of Investments Net | 0 | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of Business | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 1,572,232.00 | 1,176,256.00 | 495,656.00 | 968,622.00 | 361,109.00 |
| Financing Cash Flow | -2,990,242.00 | -460,612.00 | 534,528.00 | -3,172,767.00 | 2,344,496.00 |
| Net Issuance/Repayment of Debt | -2,097,862.00 | -80,638.00 | 899,810.00 | -3,066,282.00 | 2,690,703.00 |
| Net Issuance/Repurchase of Equity | -967,613.00 | -541,908.00 | -562,311.00 | -299,870.00 | -497,476.00 |
| Dividends Paid | -46,418.00 | -89,768.00 | -5,595.00 | -50,185.00 | -48,000.00 |
| Other Financing Activities | 121,651.00 | 251,702.00 | 202,624.00 | 243,570.00 | 199,269.00 |
| Net Change in Cash | -933,275.00 | 1,576,976.00 | -135,613.00 | -2,547,629.00 | 2,339,696.00 |
| Cash at Beginning of Period | 2,846,149.00 | 1,269,293.00 | 1,401,582.00 | 3,954,513.00 | 1,612,235.00 |
| Cash at End of Period | 1,912,450.00 | 2,846,149.00 | 1,269,293.00 | 1,401,582.00 | 3,954,513.00 |
| Free Cash Flow | 484,735.00 | 861,332.00 | -1,165,797.00 | -343,484.00 | -365,909.00 |