Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 2.91 3.18 23.10
Price to Sales 0.51 0.50 1.01
Book Value Per Common Share 7.13 5.01 3.04 1.33
Price to Book 3.77 3.47 5.92
Price to Operating Cash Flow 2.15 1.18 8.03
Price to Free Cash Flow 2.22 1.21 9.32
Enterprise Value to EBITDA 62366.64 66837.69 257180.79
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings 10.99 10.62 16.29 11.20 9.30
Price to Sales 1.98 1.83 2.06 1.78 1.89
Book Value Per Common Share 26.66 7.95 7.94 7.13 6.28
Price to Book 1.41 4.09 3.57 3.77 4.13
Price to Operating Cash Flow 8.27 5.88 1996.48 6.49 8.27
Price to Free Cash Flow 8.62 6.12 -225.72 6.50 8.76
Enterprise Value to EBITDA 77129.01 218249.09 310661.10 256052.55 204889.38

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY 69.23 600.00 -12.72
Revenue YoY 55.34 106.19 5.37
EBITDA YoY 66.71 288.99 -9.85
Net Profit YoY 73.01 651.42 -24.50
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY 11.76 75.86 -27.50 -13.98
Revenue YoY 6.46 29.53 -8.55 9.77
EBITDA YoY 9.50 63.23 -13.10 -17.05
Net Profit YoY 11.67 74.79 -26.49 -14.11

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 35.42 26.57 13.82 7.96
Quick Ratio 1.93 1.72 1.43 1.26
Current Ratio 2.02 1.78 1.58 1.35
Debt to Equity 1.67 2.20 3.01 2.98
Long-Term Debt to Equity 0.71 1.04 1.88 1.11
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 41.35 37.51 35.25 35.33 31.24
Quick Ratio 1.96 1.91 2.09 1.93 1.79
Current Ratio 2.16 2.10 2.29 2.02 1.97
Debt to Equity 1.43 1.54 1.41 1.67 1.78
Long-Term Debt to Equity 0.57 0.65 0.65 0.71 0.79

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 16.19 11.19 2.06 5.79
ROE 43.29 35.78 8.26 23.01
Gross Margin 42.16 40.97 31.72 28.25
Operating Margin 23.76 21.16 8.27 9.86
EBITDA Margin 24.66 22.98 12.18 14.24
Net Profit Margin 17.60 15.80 4.33 6.05
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA 5.29 5.08 3.07 4.19 5.33
ROE 12.83 12.90 7.39 11.21 14.84
Gross Margin 43.61 45.56 43.67 43.40 41.89
Operating Margin 25.73 25.01 19.85 20.89 27.64
EBITDA Margin 25.73 25.01 19.85 20.89 27.64
Net Profit Margin 18.03 17.19 12.73 15.84 20.25

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Dividend Yield 0.00 0.00
Dividend Payout Ratio 34.19 20.43 15.89
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Dividend Yield 0.00 0.00
Dividend Payout Ratio 98.58 113.44

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 7,878,814.00 6,587,025.00 4,762,026.00 2,245,147.00
   Current Assets 5,715,747.00 4,241,580.00 2,124,659.00 1,416,217.00
      Cash and Short-Term Investments 4,884,512.00 3,592,601.00 1,746,969.00 1,038,583.00
            Cash and Cash Equivalents 3,618,451.00 2,840,807.00 1,589,161.00 1,038,583.00
            Short-Term Investments 1,266,061.00 751,794.00 157,808.00 0
      Net Receivables 583,808.00 485,389.00 186,329.00 284,865.00
      Inventory 167,436.00 119,078.00 57,460.00 58,575.00
      Other Current Assets 79,991.00 44,512.00 133,901.00 34,194.00
   Non-Current Assets 2,163,067.00 2,345,445.00 2,637,367.00 828,930.00
      Property, Plant, Equipment Net 1,716,567.00 1,979,515.00 2,292,300.00 439,459.00
      Goodwill 17,446.00 17,446.00 17,446.00 17,446.00
      Intangible Assets 6,373.00 4,247.00 5,537.00 3,820.00
      Long-Term Investments 0 0 0 0
      Non-Current Deferred Assets 350,285.00 243,167.00 179,803.00 220,240.00
      Other Non-Current Assets 72,396.00 101,070.00 142,281.00 147,965.00
Liabilities 4,932,927.00 4,526,936.00 3,574,620.00 1,680,532.00
   Current Liabilities 2,830,217.00 2,377,851.00 1,347,614.00 1,051,386.00
      Payables and Expenses 2,025,229.00 1,606,064.00 653,062.00 745,360.00
            Account Payables 693,783.00 594,545.00 184,901.00 161,277.00
            Current Accrued Liabilities 225,899.00 158,419.00 98,399.00 92,904.00
      Short-Term Debt 351,002.00 365,721.00 491,556.00 65,808.00
      Other Current Liabilities 453,986.00 406,066.00 202,996.00 240,218.00
   Non-Current Liabilities 2,102,710.00 2,149,085.00 2,227,006.00 629,146.00
      Long-Term Debt 1,381,811.00 1,585,178.00 1,807,402.00 43,630.00
      Other Non-Current Liabilities 720,899.00 563,907.00 419,604.00 585,516.00
Equity 2,945,887.00 2,060,089.00 1,187,406.00 564,615.00
   Shareholders Equity 2,956,230.00 2,068,068.00 1,197,305.00 579,426.00
      Capital Stock 301.00 300.00 285.00 274.00
      Share Premium 1,608,017.00 1,555,773.00 1,286,189.00 764,502.00
      Retained Earnings 1,346,526.00 507,226.00 -78,304.00 -176,403.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income 1,386.00 4,769.00 -10,865.00 -8,947.00
   Minority Interest -10,343.00 -7,979.00 -9,899.00 -14,811.00
Debt 1,732,813.00 1,950,899.00 2,298,958.00 109,438.00
Common Shares Outstanding 414,557.85 412,785.71 393,357.95 436,204.55
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 7,247,932.00 4,665,967.00 2,262,983.00 2,147,577.00
Cost Of Revenue 4,191,867.00 2,754,216.00 1,545,127.00 1,540,943.00
Interest Income 48,415.00 29,569.00 14,456.00 6,722.00
Interest Expense 3,110.00 5,005.00 6,501.00 7,937.00
Non-Interest Expense 1,325,453.00 921,065.00 489,938.00 321,274.00
Gross Profit 3,056,065.00 1,911,751.00 717,856.00 606,634.00
Operating Expenses 1,433,763.00 987,717.00 552,896.00 410,578.00
   Selling, General and Administrative Expenses 1,325,453.00 921,065.00 489,938.00 321,274.00
   Research and Development Expenses 134,017.00 77,288.00 66,182.00 52,121.00
   Other Operating Expenses -25,707.00 -10,636.00 -3,224.00 37,183.00
Operating Income 1,622,302.00 924,034.00 164,960.00 196,056.00
Net Non-Operating Income 2,465.00 -1,024.00 -814.00 301.00
EBT 1,719,015.00 982,093.00 180,556.00 203,887.00
Income Tax 446,031.00 243,036.00 84,474.00 64,217.00
Net Income Including Non-Controlling Interests 1,272,984.00 739,057.00 96,082.00 139,670.00
Net Income Non-Controlling Interests 2,364.00 -1,920.00 2,017.00 5,384.00
Net Income 1,275,348.00 737,137.00 98,099.00 129,939.00
EBIT 1,722,125.00 987,098.00 187,057.00 211,824.00
Deprecation and Amortization 65,232.00 85,021.00 88,561.00 93,911.00
EBITDA 1,787,357.00 1,072,119.00 275,618.00 305,735.00
EPS 0.01 0.01 0.00 0.00
Diluted EPS 0.01 0.01 0.00 0.00
Average Shares Outstanding Basic 137,893.83 135,209.55 126,440.51 130,406.82
Average Shares Outstanding Diluted 139,076.41 138,274.43 126,440.51 130,406.82
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 1,725,948.00 1,988,674.00 283,677.00 417,879.00
   Operating Net Income 1,272,984.00 739,057.00 96,082.00 139,670.00
   Deprecation and Amortization 65,232.00 85,021.00 88,561.00 93,911.00
   Deferred Income Tax -85,930.00 -32,071.00 10,174.00 -9,396.00
   Share Based Compensation 32,792.00 163,978.00 163,193.00 0
   Change in Working Capital 150,069.00 727,196.00 -346,213.00 195,410.00
   Other Operating Activities 290,801.00 305,493.00 271,880.00 -1,716.00
Investing Cash Flow -520,554.00 -600,521.00 -192,225.00 -42,225.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE -53,289.00 -41,054.00 -36,425.00 -63,973.00
   Net Purchase/Sale of Investments Net -465,324.00 -559,467.00 -152,995.00 8,745.00
   Net Purchase/Sale of Business 0 0 0 0
   Other Investing Activities 0 0 0 13,003.00
Financing Cash Flow -426,595.00 -146,916.00 456,310.00 -161,080.00
   Net Issuance/Repayment of Debt -10,000.00 -101,958.00 64,520.00 -11,996.00
   Net Issuance/Repurchase of Equity 0 0 400,068.00 -111,260.00
   Dividends Paid -436,048.00 -150,579.00 0 -20,645.00
   Other Financing Activities 19,453.00 105,621.00 -8,278.00 -17,179.00
Net Change in Cash 778,799.00 1,241,237.00 547,762.00 214,574.00
   Cash at Beginning of Period 2,841,753.00 1,590,107.00 1,039,529.00 833,136.00
   Cash at End of Period 3,619,630.00 2,841,753.00 1,590,107.00 1,039,529.00
Free Cash Flow 1,667,769.00 1,946,950.00 244,447.00 351,909.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Assets 8,952,598.00 8,355,526.00 7,916,650.00 7,878,814.00 7,209,326.00
   Current Assets 6,829,746.00 6,177,959.00 5,732,820.00 5,715,747.00 5,070,370.00
      Cash and Short-Term Investments 5,737,416.00 5,204,816.00 4,884,929.00 4,884,512.00 4,310,853.00
            Cash and Cash Equivalents 2,670,445.00 2,715,596.00 3,146,013.00 3,618,451.00 2,741,003.00
            Short-Term Investments 3,066,971.00 2,489,220.00 1,738,916.00 1,266,061.00 1,569,850.00
      Net Receivables 458,349.00 416,907.00 351,733.00 583,808.00 297,013.00
      Inventory 158,652.00 151,636.00 157,730.00 167,436.00 139,246.00
      Other Current Assets 475,329.00 404,600.00 338,428.00 79,991.00 323,258.00
   Non-Current Assets 2,122,852.00 2,177,567.00 2,183,830.00 2,163,067.00 2,138,956.00
      Property, Plant, Equipment Net 1,649,395.00 1,711,523.00 1,733,843.00 1,716,567.00 1,702,648.00
      Goodwill 17,446.00 17,446.00 17,446.00 17,446.00 17,446.00
      Intangible Assets 5,166.00 5,598.00 5,915.00 6,373.00 4,778.00
      Long-Term Investments 0 0 0 0 0
      Non-Current Deferred Assets 376,632.00 370,068.00 354,154.00 350,285.00 322,018.00
      Other Non-Current Assets 74,213.00 72,932.00 72,472.00 72,396.00 92,066.00
Liabilities 5,261,715.00 5,067,435.00 4,633,545.00 4,932,927.00 4,618,820.00
   Current Liabilities 3,166,644.00 2,935,928.00 2,505,217.00 2,830,217.00 2,568,836.00
      Payables and Expenses 2,332,273.00 2,112,626.00 1,716,028.00 2,025,229.00 1,768,259.00
            Account Payables 772,548.00 786,352.00 509,324.00 693,783.00 564,123.00
            Current Accrued Liabilities 1,094,131.00 977,995.00 886,617.00 225,899.00 783,615.00
      Short-Term Debt 348,020.00 355,872.00 382,511.00 351,002.00 386,203.00
      Other Current Liabilities 486,351.00 467,430.00 406,678.00 453,986.00 414,374.00
   Non-Current Liabilities 2,095,071.00 2,131,507.00 2,128,328.00 2,102,710.00 2,049,984.00
      Long-Term Debt 1,294,589.00 1,342,079.00 1,376,763.00 1,381,811.00 1,348,097.00
      Other Non-Current Liabilities 800,482.00 789,428.00 751,565.00 720,899.00 701,887.00
Equity 3,690,883.00 3,288,091.00 3,283,105.00 2,945,887.00 2,590,506.00
   Shareholders Equity 3,699,062.00 3,296,940.00 3,292,573.00 2,956,230.00 2,601,359.00
      Capital Stock 302.00 302.00 301.00 301.00 301.00
      Share Premium 1,743,464.00 1,724,734.00 1,711,012.00 1,608,017.00 1,601,026.00
      Retained Earnings 2,068,992.00 1,595,272.00 1,589,229.00 1,346,526.00 1,016,377.00
      Treasury Shares 85,310.00 0 0 0 0
      Accumulated Other Comprehensive Income -28,386.00 -23,368.00 -7,969.00 1,386.00 -16,345.00
   Minority Interest -8,179.00 -8,849.00 -9,468.00 -10,343.00 -10,853.00
Debt 1,642,609.00 1,697,951.00 1,759,274.00 1,732,813.00 1,734,300.00
Common Shares Outstanding 0 414,557.85 414,557.85 414,557.85 414,557.85
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Revenues 2,627,970.00 2,468,549.00 1,905,814.00 2,084,010.00 1,898,582.00
Cost Of Revenue 1,481,838.00 1,343,773.00 1,073,571.00 1,179,615.00 1,103,224.00
Interest Income 18,595.00 22,437.00 19,280.00 9,505.00 12,995.00
Interest Expense 477.00 781.00 614.00 727.00 856.00
Non-Interest Expense 455,173.00 482,393.00 444,710.00 457,582.00 300,410.00
Gross Profit 1,146,132.00 1,124,776.00 832,243.00 904,395.00 795,358.00
Operating Expenses 494,676.00 528,594.00 476,962.00 490,491.00 303,000.00
   Selling, General and Administrative Expenses 455,173.00 482,393.00 444,710.00 457,582.00 300,410.00
   Research and Development Expenses 44,447.00 42,574.00 39,381.00 46,644.00 30,240.00
   Other Operating Expenses -4,944.00 3,627.00 -7,129.00 -13,735.00 -27,650.00
Operating Income 651,456.00 596,182.00 355,281.00 413,904.00 492,358.00
Net Non-Operating Income -6,900.00 -9,791.00 -6,109.00 -2,662.00 5,678.00
EBT 675,689.00 616,721.00 377,689.00 434,619.00 523,982.00
Income Tax 201,299.00 191,871.00 134,111.00 103,959.00 143,272.00
Net Income Including Non-Controlling Interests 474,390.00 424,850.00 243,578.00 330,660.00 380,710.00
Net Income Non-Controlling Interests -670.00 -619.00 -875.00 -511.00 3,679.00
Net Income 473,720.00 424,231.00 242,703.00 330,149.00 384,389.00
EBIT 676,166.00 617,502.00 378,303.00 435,346.00 524,838.00
EBITDA 676,166.00 617,502.00 378,303.00 435,346.00 524,838.00
EPS 0.00 0.00 0.00 0.00 0.00
Diluted EPS 0.00 0.00 0.00 0.00 0.00
Average Shares Outstanding Basic 138,749.96 138,749.88 138,567.21 138,244.06 137,976.30
Average Shares Outstanding Diluted 140,086.37 139,931.29 139,564.33 139,727.59 138,993.53
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Operating Cash Flow 630,839.00 766,503.00 1,968.00 573,148.00 432,923.00
   Operating Net Income 0 0 0 0 0
   Deprecation and Amortization 0 0 0 0 0
   Deferred Income Tax 0 0 0 0 0
   Share Based Compensation 0 0 0 0 0
   Change in Working Capital 0 0 0 0 0
   Other Operating Activities 630,839.00 766,503.00 1,968.00 573,148.00 432,923.00
Investing Cash Flow -590,336.00 -770,753.00 -477,639.00 320,466.00 -571,747.00
   Capital Expenditure 0 0 0 0 0
   Net Purchase/Sale of PPE -25,573.00 -28,971.00 -14,560.00 2,590.00 -23,128.00
   Net Purchase/Sale of Investments Net -564,736.00 -741,630.00 -463,004.00 318,388.00 -547,472.00
   Net Purchase/Sale of Business 0 0 0 0 0
   Other Investing Activities -27.00 -152.00 -75.00 -512.00 -1,147.00
Financing Cash Flow -79,894.00 -411,303.00 11,446.00 -25,491.00 -421,104.00
   Net Issuance/Repayment of Debt 0 -5,000.00 10,000.00 -30,000.00 0
   Net Issuance/Repurchase of Equity -85,310.00 0 0 0 0
   Dividends Paid 0 -418,188.00 0 0 -436,048.00
   Other Financing Activities 5,416.00 0 0 0 14,944.00
Net Change in Cash -39,391.00 -415,553.00 -464,225.00 868,123.00 -559,928.00
   Cash at Beginning of Period 2,716,775.00 3,147,192.00 3,619,630.00 2,742,109.00 3,323,985.00
   Cash at End of Period 2,671,624.00 2,716,775.00 3,147,192.00 3,619,630.00 2,742,109.00
Free Cash Flow 604,984.00 737,380.00 -17,407.00 572,277.00 408,648.00