Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 5.79 7.06 6.13 8.76
Price to Sales 1.43 1.62 1.33 1.63
Book Value Per Common Share 9.67 8.86 7.78 6.71
Price to Book 1.01 1.03 0.77 0.87
Price to Operating Cash Flow -3.08 -75.23 1.57 -30.26
Price to Free Cash Flow -2.78 -21.35 1.75 -17.17
Enterprise Value to EBITDA
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings 45.83 33.41 30.27 24.30 24.64
Price to Sales 11.86 10.55 8.40 6.34 6.94
Book Value Per Common Share 10.02 9.87 9.57 9.67 9.19
Price to Book 1.92 1.56 1.42 1.01 1.18
Price to Operating Cash Flow 6.76 498.90
Price to Free Cash Flow 6.93 -517.87
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY 30.23 31.63 46.27
Revenue YoY 17.38 19.11 22.04
EBITDA YoY
Net Profit YoY 25.94 26.96 40.81
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY -8.70 2.22 12.50 -9.09
Revenue YoY 12.26 -6.59 0.04 0.00
EBITDA YoY
Net Profit YoY -7.93 5.81 6.78 -7.38

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share
Quick Ratio
Current Ratio
Debt to Equity 11.87 13.03 13.10 12.59
Long-Term Debt to Equity
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share
Quick Ratio
Current Ratio
Debt to Equity 12.15 11.76 12.04 11.87 12.55
Long-Term Debt to Equity

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 1.25 0.99 0.85 0.65
ROE 16.11 13.89 11.97 8.80
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin 24.64 22.96 21.54 18.67
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA 0.31 0.35 0.34 0.32 0.34
ROE 4.09 4.51 4.38 4.05 4.63
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin 25.88 31.56 27.86 26.11 28.19

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Dividend Yield 0.00 0.00 0.00 0.00
Dividend Payout Ratio 40.48 36.59 36.15 21.57
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Dividend Yield
Dividend Payout Ratio

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 772,402,000.00 775,558,000.00 712,092,000.00 662,885,000.00
      Cash and Short-Term Investments 0 0 0 0
            Cash and Cash Equivalents 59,881,000.00 82,609,000.00 84,250,000.00 74,562,000.00
            Short-Term Investments 58,977,000.00 62,180,000.00 65,348,000.00 60,394,000.00
      Net Receivables 47,975,000.00 38,787,000.00 37,997,000.00 29,097,000.00
      Inventory 0 0 0 0
      Other Current Assets 0 0 0 0
      Property, Plant, Equipment Net 9,506,000.00 9,047,000.00 8,442,000.00 7,108,000.00
      Goodwill 700,000.00 795,000.00 707,000.00 818,000.00
      Intangible Assets 1,790,000.00 1,568,000.00 1,449,000.00 1,379,000.00
      Long-Term Investments 164,720,000.00 155,178,000.00 139,227,000.00 143,400,000.00
      Non-Current Deferred Assets 0 0 0 0
      Other Non-Current Assets 0 0 0 0
Liabilities 712,389,000.00 720,293,000.00 661,574,000.00 614,125,000.00
      Payables and Expenses 19,927,000.00 17,295,000.00 16,693,000.00 15,404,000.00
            Account Payables 0 0 0 0
            Current Accrued Liabilities 3,066,000.00 2,878,000.00 2,595,000.00 2,137,000.00
      Short-Term Debt 175,000.00 236,000.00 142,000.00 218,000.00
      Other Current Liabilities 0 0 0 0
      Long-Term Debt 75,755,000.00 74,192,000.00 60,116,000.00 61,719,000.00
      Other Non-Current Liabilities 0 0 0 0
Equity 60,013,000.00 55,265,000.00 50,518,000.00 48,760,000.00
   Shareholders Equity 55,654,000.00 51,701,000.00 46,895,000.00 43,907,000.00
      Capital Stock 2,824,000.00 2,861,000.00 2,955,000.00 3,267,000.00
      Share Premium 19,184,000.00 19,769,000.00 20,856,000.00 23,599,000.00
      Retained Earnings 50,747,000.00 44,256,000.00 39,069,000.00 36,494,000.00
      Treasury Shares 66,000.00 34,000.00 29,000.00 647,000.00
      Accumulated Other Comprehensive Income -17,075,000.00 -15,191,000.00 -16,019,000.00 -18,866,000.00
   Minority Interest 4,359,000.00 3,564,000.00 3,623,000.00 4,853,000.00
Debt 75,930,000.00 74,192,000.00 60,116,000.00 61,719,000.00
Net Debt 14,582,000.00 0 0 0
Common Shares Outstanding 5,756,618.61 5,837,940.38 6,024,631.15 6,540,253.18
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 39,235,000.00 33,427,000.00 28,065,000.00 22,996,000.00
Interest Income 61,660,000.00 47,850,000.00 31,432,000.00 23,014,000.00
Interest Expense 36,394,000.00 24,760,000.00 12,308,000.00 8,328,000.00
Non-Interest Expense 14,760,000.00 12,915,000.00 10,986,000.00 10,475,000.00
   Selling, General and Administrative Expenses 12,240,000.00 10,982,000.00 9,472,000.00 8,459,000.00
EBT 15,405,000.00 12,419,000.00 10,268,000.00 7,247,000.00
Income Tax 4,830,000.00 4,003,000.00 3,505,000.00 1,909,000.00
Net Income Including Non-Controlling Interests 10,575,000.00 8,416,000.00 6,763,000.00 5,618,000.00
Net Income Non-Controlling Interests -521,000.00 -397,000.00 -405,000.00 -965,000.00
Net Income 9,666,000.00 7,675,000.00 6,045,000.00 4,293,000.00
Deprecation and Amortization 1,533,000.00 1,403,000.00 1,328,000.00 1,234,000.00
EPS 0.00 0.00 0.00 0.00
Diluted EPS 0.00 0.00 0.00 0.00
Average Shares Outstanding Basic 5,769,000.00 5,954,000.00 6,189,000.00 6,401,000.00
Average Shares Outstanding Diluted 5,769,000.00 5,954,000.00 6,189,000.00 6,401,000.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow -18,190,000.00 -721,000.00 23,718,000.00 -1,242,000.00
   Operating Net Income 10,575,000.00 8,416,000.00 6,763,000.00 5,618,000.00
   Deprecation and Amortization 1,533,000.00 1,403,000.00 1,328,000.00 1,234,000.00
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 0 0 0 0
   Change in Working Capital -37,951,000.00 -15,935,000.00 8,444,000.00 -13,002,000.00
   Other Operating Activities 7,653,000.00 5,395,000.00 7,183,000.00 4,908,000.00
Investing Cash Flow -1,423,000.00 -1,419,000.00 -3,911,000.00 -1,634,000.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE -1,091,000.00 -1,037,000.00 -1,783,000.00 -318,000.00
   Net Purchase/Sale of Investments Net 31,000.00 -35,000.00 46,000.00 30,000.00
   Net Purchase/Sale of Business 45,000.00 21,000.00 -1,389,000.00 10,000.00
   Other Investing Activities -408,000.00 -368,000.00 -785,000.00 -1,356,000.00
Financing Cash Flow -2,567,000.00 -1,842,000.00 -7,563,000.00 -4,349,000.00
   Net Issuance/Repayment of Debt 2,915,000.00 3,043,000.00 -2,258,000.00 -2,301,000.00
   Net Issuance/Repurchase of Equity -838,000.00 -1,455,000.00 -2,549,000.00 -584,000.00
   Dividends Paid -3,913,000.00 -2,808,000.00 -2,185,000.00 -926,000.00
   Other Financing Activities -731,000.00 -622,000.00 -571,000.00 -538,000.00
Net Change in Cash -22,180,000.00 -3,982,000.00 12,244,000.00 -7,225,000.00
   Cash at Beginning of Period 75,416,000.00 79,756,000.00 67,799,000.00 76,888,000.00
   Cash at End of Period 51,145,000.00 75,416,000.00 79,756,000.00 67,799,000.00
Free Cash Flow -20,201,000.00 -2,540,000.00 21,276,000.00 -2,188,000.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30
Assets 813,063,000.00 776,974,000.00 772,863,000.00 772,402,000.00 769,341,000.00 0
      Cash and Short-Term Investments 0 0 0 0 0 0
            Cash and Cash Equivalents 66,001,000.00 73,092,000.00 82,603,000.00 59,881,000.00 90,203,000.00 0
            Short-Term Investments 59,114,000.00 58,182,000.00 59,718,000.00 58,977,000.00 59,961,000.00 0
      Net Receivables 5,668,000.00 0 5,239,000.00 47,975,000.00 0 41,162,000.00
      Inventory 0 0 0 0 0 0
      Other Current Assets 0 0 0 0 0 0
      Property, Plant, Equipment Net 9,015,000.00 9,213,000.00 9,530,000.00 9,506,000.00 9,351,000.00 0
      Goodwill 699,000.00 0 689,000.00 700,000.00 0 760,000.00
      Intangible Assets 1,968,000.00 0 1,803,000.00 1,790,000.00 0 1,620,000.00
      Long-Term Investments 176,786,000.00 241,320,000.00 236,886,000.00 164,720,000.00 256,429,000.00 0
      Non-Current Deferred Assets 0 0 0 0 0 0
      Other Non-Current Assets 0 0 0 0 0 0
Liabilities 751,255,000.00 716,087,000.00 713,599,000.00 712,389,000.00 712,569,000.00 0
      Payables and Expenses 23,110,000.00 0 21,720,000.00 19,927,000.00 0 18,374,000.00
            Account Payables 0 0 0 0 0 0
            Current Accrued Liabilities 3,503,000.00 0 2,583,000.00 3,066,000.00 0 2,840,000.00
      Short-Term Debt 0 0 0 175,000.00 0 0
      Other Current Liabilities 0 0 0 0 0 0
      Long-Term Debt 84,097,000.00 71,802,000.00 71,987,000.00 75,755,000.00 67,325,000.00 0
      Other Non-Current Liabilities 0 0 0 0 0 0
Equity 61,808,000.00 60,887,000.00 59,264,000.00 60,013,000.00 56,772,000.00 0
   Shareholders Equity 57,643,000.00 56,828,000.00 55,077,000.00 55,654,000.00 52,889,000.00 0
      Capital Stock 2,824,000.00 75,724,000.00 73,025,000.00 2,824,000.00 70,536,000.00 0
      Share Premium 19,184,000.00 0 19,184,000.00 19,184,000.00 0 19,184,000.00
      Retained Earnings 54,407,000.00 0 49,280,000.00 50,747,000.00 0 45,889,000.00
      Treasury Shares 93,000.00 0 135,000.00 66,000.00 0 106,000.00
      Accumulated Other Comprehensive Income -18,713,000.00 -18,896,000.00 -17,948,000.00 -17,075,000.00 -17,647,000.00 0
   Minority Interest 4,165,000.00 4,059,000.00 4,187,000.00 4,359,000.00 3,883,000.00 0
Debt 84,097,000.00 71,802,000.00 71,987,000.00 75,930,000.00 67,325,000.00 0
Net Debt 16,666,000.00 0 16,392,000.00 14,582,000.00 0 20,263,000.00
Common Shares Outstanding 5,755,285.46 5,756,618.61 5,756,618.61 5,756,618.61 5,752,285.46 0
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Revenues 9,778,000.00 8,710,000.00 9,324,000.00 9,320,000.00 9,320,000.00
Interest Income 14,763,000.00 6,208,000.00 6,398,000.00 6,406,000.00 14,476,000.00
Interest Expense 8,123,000.00 0 8,322,000.00 0 0
Non-Interest Expense 0 0 3,377,000.00 0 0
   Selling, General and Administrative Expenses 3,194,000.00 2,854,000.00 3,184,000.00 3,596,000.00 2,964,000.00
EBT 3,868,000.00 4,076,000.00 4,348,000.00 3,759,000.00 3,867,000.00
Income Tax 1,206,000.00 1,160,000.00 1,466,000.00 1,171,000.00 1,135,000.00
Net Income Including Non-Controlling Interests 2,662,000.00 2,916,000.00 2,882,000.00 2,588,000.00 2,732,000.00
Net Income Non-Controlling Interests -132,000.00 -167,000.00 -184,000.00 -155,000.00 -105,000.00
Net Income 2,531,000.00 2,749,000.00 2,598,000.00 2,433,000.00 2,627,000.00
Deprecation and Amortization 379,000.00 370,000.00 378,000.00 408,000.00 366,000.00
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 6,026,190.48 5,976,086.96 5,752,000.00 6,082,500.00 5,970,454.54
Average Shares Outstanding Diluted 6,026,190.48 5,976,086.96 5,752,000.00 6,082,500.00 5,970,454.54
Breakdown 2025-09-30 2025-03-31 2024-06-30 2024-03-31
Operating Cash Flow 17,170,000.00 157,000.00 -26,905,000.00 -193,000.00
   Operating Net Income 2,663,000.00 2,882,000.00 2,948,000.00 2,307,000.00
   Deprecation and Amortization 379,000.00 378,000.00 384,000.00 375,000.00
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 0 0 0 0
   Change in Working Capital 13,483,000.00 -7,491,000.00 -33,961,000.00 -3,582,000.00
   Other Operating Activities 645,000.00 4,388,000.00 3,724,000.00 707,000.00
Investing Cash Flow -379,000.00 -274,000.00 -354,000.00 -374,000.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE -191,000.00 -131,000.00 -271,000.00 -281,000.00
   Net Purchase/Sale of Investments Net 3,000.00 12,000.00 14,000.00 6,000.00
   Net Purchase/Sale of Business 0 0 -8,000.00 0
   Other Investing Activities -191,000.00 -155,000.00 -89,000.00 -99,000.00
Financing Cash Flow 278,000.00 491,000.00 -3,162,000.00 1,139,000.00
   Net Issuance/Repayment of Debt 335,000.00 771,000.00 -330,000.00 1,965,000.00
   Net Issuance/Repurchase of Equity 2,000.00 -103,000.00 -171,000.00 -705,000.00
   Dividends Paid 0 0 -2,245,000.00 0
   Other Financing Activities -59,000.00 -177,000.00 -416,000.00 -121,000.00
Net Change in Cash 17,069,000.00 374,000.00 -30,421,000.00 572,000.00
   Cash at Beginning of Period 40,017,000.00 51,145,000.00 76,524,000.00 75,416,000.00
   Cash at End of Period 57,125,000.00 50,406,000.00 45,055,000.00 76,524,000.00
Free Cash Flow 16,751,000.00 -151,000.00 -27,387,000.00 -600,000.00