BIDU
Valuation Ratios
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Price to Earnings | 1.27 | 2.13 | ||
| Price to Sales | 0.22 | 0.31 | ||
| Book Value Per Common Share | 95.39 | 86.85 | 79.91 | 76.50 |
| Price to Book | 0.88 | 1.37 | ||
| Price to Operating Cash Flow | 1.38 | 1.14 | ||
| Price to Free Cash Flow | 2.27 | 1.65 | ||
| Enterprise Value to EBITDA | 44834.64 | 66941.73 |
| Breakdown | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|
| Price to Earnings | 4.11 | 4.21 | 5.85 | 4.80 | 5.72 |
| Price to Sales | 0.89 | 0.98 | 0.86 | 1.09 | 0.89 |
| Book Value Per Common Share | 808.99 | 98.08 | 95.39 | 93.95 | 723.23 |
| Price to Book | 0.11 | 0.94 | 0.88 | 1.12 | 0.12 |
| Price to Operating Cash Flow | -33.25 | -5.27 | 12.41 | 8.57 | 3.61 |
| Price to Free Cash Flow | -33.25 | -5.27 | -4.95 | 8.57 | 3.61 |
| Enterprise Value to EBITDA | 32977.26 | 258364.55 | 322703.84 | 313783.28 | 40523.00 |
Earnings Data
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Earning YoY | 19.05 | 179.20 | -30.17 | |
| Revenue YoY | -1.09 | 8.83 | -0.66 | |
| EBITDA YoY | 4.14 | 50.72 | -9.93 | |
| Net Profit YoY | 18.24 | 181.26 | -29.45 |
| Breakdown | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|
| Earning YoY | -4.40 | 51.67 | -34.31 | 44.97 | |
| Revenue YoY | 0.80 | -4.90 | 1.69 | -1.10 | |
| EBITDA YoY | -9.75 | 35.68 | -22.14 | 24.35 | |
| Net Profit YoY | -5.12 | 67.62 | -39.68 | 39.07 |
Financial Strength
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Cash Per Common Share | 365.42 | 552.62 | 500.35 | 522.39 |
| Quick Ratio | 1.75 | 2.75 | 2.45 | 2.62 |
| Current Ratio | 2.09 | 3.01 | 2.67 | 2.86 |
| Debt to Equity | 0.51 | 0.55 | 0.64 | 0.70 |
| Long-Term Debt to Equity | 0.22 | 0.26 | 0.31 | 0.36 |
| Breakdown | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|
| Cash Per Common Share | 364.31 | 412.27 | 367.39 | 381.50 | 430.20 |
| Quick Ratio | 1.60 | 2.00 | 1.75 | 1.84 | 2.02 |
| Current Ratio | 1.85 | 2.29 | 2.09 | 2.19 | 2.32 |
| Debt to Equity | 0.51 | 0.57 | 0.51 | 0.49 | 0.52 |
| Long-Term Debt to Equity | 0.23 | 0.30 | 0.22 | 0.21 | 0.23 |
Profitability
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| ROA | 5.42 | 4.82 | 1.78 | 2.60 |
| ROE | 8.17 | 7.46 | 2.93 | 4.41 |
| Gross Margin | 50.35 | 51.69 | 48.30 | 48.34 |
| Operating Margin | 23.62 | 21.13 | 10.53 | 11.41 |
| EBITDA Margin | 39.04 | 37.08 | 26.77 | 29.53 |
| Net Profit Margin | 17.41 | 14.56 | 5.63 | 7.93 |
| Breakdown | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|
| ROA | 1.63 | 1.70 | 1.08 | 1.83 | 1.32 |
| ROE | 2.46 | 2.66 | 1.62 | 2.73 | 2.01 |
| Gross Margin | 43.88 | 46.11 | 47.21 | 51.13 | 51.67 |
| Operating Margin | 27.03 | 30.19 | 21.16 | 27.63 | 21.98 |
| EBITDA Margin | 27.03 | 30.19 | 21.16 | 27.63 | 21.98 |
| Net Profit Margin | 22.38 | 23.78 | 13.49 | 22.74 | 16.17 |
Dividends
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Dividend Yield | ||||
| Dividend Payout Ratio |
| Breakdown | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|
| Dividend Yield | |||||
| Dividend Payout Ratio |
Financial Statements
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Assets | 427,780,000.00 | 406,759,000.00 | 390,973,000.00 | 380,034,000.00 |
| Current Assets | 168,849,000.00 | 230,255,000.00 | 212,850,000.00 | 213,315,000.00 |
| Cash and Short-Term Investments | 127,440,000.00 | 193,901,000.00 | 173,995,000.00 | 180,093,000.00 |
| Cash and Cash Equivalents | 24,832,000.00 | 25,231,000.00 | 53,156,000.00 | 36,850,000.00 |
| Short-Term Investments | 102,608,000.00 | 168,670,000.00 | 120,839,000.00 | 143,243,000.00 |
| Net Receivables | 14,280,000.00 | 16,620,000.00 | 21,135,000.00 | 14,829,000.00 |
| Inventory | 5,989,000.00 | 1,396,000.00 | 1,227,000.00 | 1,477,000.00 |
| Other Current Assets | 21,140,000.00 | 18,338,000.00 | 16,493,000.00 | 16,916,000.00 |
| Non-Current Assets | 258,931,000.00 | 176,504,000.00 | 178,123,000.00 | 166,719,000.00 |
| Property, Plant, Equipment Net | 41,000,000.00 | 38,811,000.00 | 34,338,000.00 | 35,092,000.00 |
| Goodwill | 22,586,000.00 | 22,586,000.00 | 22,477,000.00 | 22,605,000.00 |
| Intangible Assets | 22,397,000.00 | 21,225,000.00 | 21,097,000.00 | 19,898,000.00 |
| Long-Term Investments | 140,256,000.00 | 72,623,000.00 | 78,926,000.00 | 67,332,000.00 |
| Non-Current Deferred Assets | 2,193,000.00 | 2,100,000.00 | 2,129,000.00 | 2,372,000.00 |
| Other Non-Current Assets | 30,499,000.00 | 19,159,000.00 | 19,156,000.00 | 19,420,000.00 |
| Liabilities | 144,168,000.00 | 144,151,000.00 | 153,168,000.00 | 156,082,000.00 |
| Current Liabilities | 80,953,000.00 | 76,451,000.00 | 79,630,000.00 | 74,488,000.00 |
| Payables and Expenses | 41,995,000.00 | 37,927,000.00 | 41,922,000.00 | 42,207,000.00 |
| Account Payables | 0 | 0 | 0 | 0 |
| Current Accrued Liabilities | 31,558,000.00 | 30,119,000.00 | 30,184,000.00 | 33,563,000.00 |
| Short-Term Debt | 22,408,000.00 | 22,198,000.00 | 23,361,000.00 | 17,537,000.00 |
| Other Current Liabilities | 16,550,000.00 | 16,326,000.00 | 14,347,000.00 | 14,744,000.00 |
| Non-Current Liabilities | 63,215,000.00 | 67,700,000.00 | 73,538,000.00 | 81,594,000.00 |
| Long-Term Debt | 56,916,000.00 | 62,397,000.00 | 67,993,000.00 | 73,970,000.00 |
| Other Non-Current Liabilities | 6,299,000.00 | 5,303,000.00 | 5,545,000.00 | 7,624,000.00 |
| Equity | 283,612,000.00 | 262,608,000.00 | 237,805,000.00 | 223,952,000.00 |
| Shareholders Equity | 263,620,000.00 | 243,626,000.00 | 223,478,000.00 | 211,459,000.00 |
| Capital Stock | 0 | 0 | 0 | 0 |
| Share Premium | 91,586,000.00 | 87,099,000.00 | 79,855,000.00 | 73,888,000.00 |
| Retained Earnings | 180,073,000.00 | 161,240,000.00 | 148,341,000.00 | 145,160,000.00 |
| Treasury Shares | 6,236,000.00 | 3,818,000.00 | 5,264,000.00 | 7,581,000.00 |
| Accumulated Other Comprehensive Income | -1,803,000.00 | -895,000.00 | 546,000.00 | -8,000.00 |
| Minority Interest | 19,992,000.00 | 18,982,000.00 | 14,327,000.00 | 12,493,000.00 |
| Debt | 79,324,000.00 | 84,595,000.00 | 91,354,000.00 | 91,507,000.00 |
| Net Debt | 46,216,000.00 | 51,216,000.00 | 30,579,000.00 | 46,226,000.00 |
| Common Shares Outstanding | 2,763,574.69 | 2,805,191.40 | 2,796,585.39 | 2,764,332.79 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Revenues | 133,125,000.00 | 134,598,000.00 | 123,675,000.00 | 124,493,000.00 |
| Cost Of Revenue | 66,102,000.00 | 65,031,000.00 | 63,935,000.00 | 64,314,000.00 |
| Interest Income | 7,962,000.00 | 8,009,000.00 | 6,245,000.00 | 5,551,000.00 |
| Interest Expense | 2,824,000.00 | 3,248,000.00 | 2,913,000.00 | 3,421,000.00 |
| Non-Interest Expense | 23,620,000.00 | 23,519,000.00 | 20,514,000.00 | 24,723,000.00 |
| Gross Profit | 67,023,000.00 | 69,567,000.00 | 59,740,000.00 | 60,179,000.00 |
| Operating Expenses | 45,753,000.00 | 47,711,000.00 | 43,829,000.00 | 49,661,000.00 |
| Selling, General and Administrative Expenses | 23,620,000.00 | 23,519,000.00 | 20,514,000.00 | 24,723,000.00 |
| Research and Development Expenses | 22,133,000.00 | 24,192,000.00 | 23,315,000.00 | 24,938,000.00 |
| Operating Income | 21,270,000.00 | 21,856,000.00 | 15,911,000.00 | 10,518,000.00 |
| Net Non-Operating Income | 1,829,000.00 | 1,785,000.00 | -5,737,000.00 | -1,038,000.00 |
| EBT | 28,622,000.00 | 25,198,000.00 | 10,112,000.00 | 10,778,000.00 |
| Income Tax | 4,447,000.00 | 3,649,000.00 | 2,578,000.00 | 3,187,000.00 |
| Net Income Including Non-Controlling Interests | 24,175,000.00 | 21,549,000.00 | 7,534,000.00 | 7,591,000.00 |
| Net Income Non-Controlling Interests | -415,000.00 | -1,234,000.00 | 25,000.00 | 2,635,000.00 |
| Net Income | 23,172,000.00 | 19,598,000.00 | 6,968,000.00 | 9,876,000.00 |
| EBIT | 31,446,000.00 | 28,446,000.00 | 13,025,000.00 | 14,199,000.00 |
| Deprecation and Amortization | 20,521,000.00 | 21,457,000.00 | 20,084,000.00 | 22,559,000.00 |
| EBITDA | 51,967,000.00 | 49,903,000.00 | 33,109,000.00 | 36,758,000.00 |
| EPS | 0.07 | 0.06 | 0.02 | 0.03 |
| Diluted EPS | 0.07 | 0.06 | 0.02 | 0.03 |
| Average Shares Outstanding Basic | 348,750.00 | 350,875.00 | 347,750.00 | 344,750.00 |
| Average Shares Outstanding Diluted | 349,750.00 | 354,625.00 | 351,125.00 | 351,750.00 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Operating Cash Flow | 21,234,000.00 | 36,615,000.00 | 26,170,000.00 | 20,122,000.00 |
| Operating Net Income | 24,175,000.00 | 21,549,000.00 | 7,534,000.00 | 7,591,000.00 |
| Deprecation and Amortization | 20,521,000.00 | 21,457,000.00 | 20,084,000.00 | 22,559,000.00 |
| Deferred Income Tax | 1,040,000.00 | -163,000.00 | -99,000.00 | -449,000.00 |
| Share Based Compensation | 4,784,000.00 | 6,345,000.00 | 6,788,000.00 | 7,056,000.00 |
| Change in Working Capital | -27,512,000.00 | -13,067,000.00 | -16,758,000.00 | -18,691,000.00 |
| Other Operating Activities | -1,774,000.00 | 494,000.00 | 8,621,000.00 | 2,056,000.00 |
| Investing Cash Flow | -8,555,000.00 | -50,397,000.00 | -3,944,000.00 | -31,444,000.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | -8,134,000.00 | -11,190,000.00 | -8,286,000.00 | -10,896,000.00 |
| Net Purchase/Sale of Investments Net | -6,353,000.00 | -46,961,000.00 | 6,598,000.00 | -7,993,000.00 |
| Net Purchase/Sale of Business | 8,438,000.00 | 5,297,000.00 | -1,388,000.00 | -12,282,000.00 |
| Other Investing Activities | -2,506,000.00 | 2,457,000.00 | -868,000.00 | -273,000.00 |
| Financing Cash Flow | -13,759,000.00 | -14,162,000.00 | -6,390,000.00 | 23,396,000.00 |
| Net Issuance/Repayment of Debt | -7,537,000.00 | -13,093,000.00 | -6,813,000.00 | 8,840,000.00 |
| Net Issuance/Repurchase of Equity | -6,324,000.00 | -4,764,000.00 | -1,925,000.00 | 12,292,000.00 |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Other Financing Activities | 102,000.00 | 3,695,000.00 | 2,348,000.00 | 2,264,000.00 |
| Net Change in Cash | -1,080,000.00 | -27,944,000.00 | 15,836,000.00 | 12,074,000.00 |
| Cash at Beginning of Period | 37,574,000.00 | 65,236,000.00 | 47,671,000.00 | 36,540,000.00 |
| Cash at End of Period | 36,589,000.00 | 37,574,000.00 | 65,236,000.00 | 47,671,000.00 |
| Free Cash Flow | 12,975,000.00 | 25,320,000.00 | 17,777,000.00 | 8,882,000.00 |
| Breakdown | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|
| Assets | 450,569,000.00 | 453,982,000.00 | 427,780,000.00 | 417,316,000.00 | 415,527,000.00 |
| Current Assets | 157,218,000.00 | 175,829,000.00 | 168,849,000.00 | 172,118,000.00 | 187,266,000.00 |
| Cash and Short-Term Investments | 123,866,000.00 | 141,769,000.00 | 127,440,000.00 | 132,811,000.00 | 150,355,000.00 |
| Cash and Cash Equivalents | 29,940,000.00 | 49,202,000.00 | 24,832,000.00 | 28,682,000.00 | 43,534,000.00 |
| Short-Term Investments | 93,926,000.00 | 92,567,000.00 | 102,608,000.00 | 104,129,000.00 | 106,821,000.00 |
| Net Receivables | 12,326,000.00 | 11,821,000.00 | 14,280,000.00 | 11,227,000.00 | 12,508,000.00 |
| Inventory | 0 | 0 | 5,989,000.00 | 0 | 0 |
| Other Current Assets | 0 | 0 | 21,140,000.00 | 0 | 0 |
| Non-Current Assets | 293,351,000.00 | 278,153,000.00 | 258,931,000.00 | 245,198,000.00 | 228,261,000.00 |
| Property, Plant, Equipment Net | 43,138,000.00 | 41,894,000.00 | 41,000,000.00 | 40,389,000.00 | 40,073,000.00 |
| Goodwill | 37,637,000.00 | 37,637,000.00 | 22,586,000.00 | 22,586,000.00 | 22,586,000.00 |
| Intangible Assets | 24,404,000.00 | 23,447,000.00 | 22,397,000.00 | 21,924,000.00 | 22,046,000.00 |
| Long-Term Investments | 155,226,000.00 | 149,682,000.00 | 140,256,000.00 | 133,184,000.00 | 118,690,000.00 |
| Non-Current Deferred Assets | 2,352,000.00 | 2,171,000.00 | 2,193,000.00 | 2,852,000.00 | 2,342,000.00 |
| Other Non-Current Assets | 30,594,000.00 | 23,322,000.00 | 30,499,000.00 | 24,263,000.00 | 22,524,000.00 |
| Liabilities | 152,657,000.00 | 163,908,000.00 | 144,168,000.00 | 138,125,000.00 | 142,589,000.00 |
| Current Liabilities | 85,125,000.00 | 76,864,000.00 | 80,953,000.00 | 78,429,000.00 | 80,765,000.00 |
| Payables and Expenses | 39,844,000.00 | 40,453,000.00 | 41,995,000.00 | 40,959,000.00 | 39,819,000.00 |
| Account Payables | 38,208,000.00 | 38,770,000.00 | 0 | 39,000,000.00 | 37,988,000.00 |
| Current Accrued Liabilities | 0 | 0 | 31,558,000.00 | 0 | 0 |
| Short-Term Debt | 31,649,000.00 | 21,891,000.00 | 22,408,000.00 | 22,860,000.00 | 26,617,000.00 |
| Other Current Liabilities | 13,632,000.00 | 14,520,000.00 | 16,550,000.00 | 14,610,000.00 | 14,329,000.00 |
| Non-Current Liabilities | 67,532,000.00 | 87,044,000.00 | 63,215,000.00 | 59,696,000.00 | 61,824,000.00 |
| Long-Term Debt | 60,194,000.00 | 80,162,000.00 | 56,916,000.00 | 54,496,000.00 | 56,183,000.00 |
| Other Non-Current Liabilities | 7,338,000.00 | 6,882,000.00 | 6,299,000.00 | 5,200,000.00 | 5,641,000.00 |
| Equity | 297,912,000.00 | 290,074,000.00 | 283,612,000.00 | 279,191,000.00 | 272,938,000.00 |
| Shareholders Equity | 275,057,000.00 | 269,747,000.00 | 263,620,000.00 | 259,649,000.00 | 252,769,000.00 |
| Capital Stock | 0 | 0 | 0 | 0 | 0 |
| Share Premium | 0 | 0 | 91,586,000.00 | 0 | 0 |
| Retained Earnings | 0 | 0 | 180,073,000.00 | 0 | 0 |
| Treasury Shares | 0 | 0 | 6,236,000.00 | 0 | 0 |
| Accumulated Other Comprehensive Income | 0 | 0 | -1,803,000.00 | 0 | 0 |
| Minority Interest | 22,855,000.00 | 20,327,000.00 | 19,992,000.00 | 19,542,000.00 | 20,169,000.00 |
| Debt | 91,843,000.00 | 102,053,000.00 | 79,324,000.00 | 77,356,000.00 | 82,800,000.00 |
| Net Debt | 53,818,000.00 | 44,250,000.00 | 46,216,000.00 | 40,640,000.00 | 31,014,000.00 |
| Common Shares Outstanding | 0 | 2,750,167.17 | 2,763,574.69 | 2,763,574.69 | 0 |
| Breakdown | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|
| Revenues | 32,713,000.00 | 32,452,000.00 | 34,124,000.00 | 33,557,000.00 | 33,931,000.00 |
| Cost Of Revenue | 18,357,000.00 | 17,487,000.00 | 18,014,000.00 | 16,399,000.00 | 16,398,000.00 |
| Interest Income | 1,957,000.00 | 2,664,000.00 | 2,001,000.00 | 1,877,000.00 | 1,993,000.00 |
| Interest Expense | 701,000.00 | 801,000.00 | 643,000.00 | 673,000.00 | 742,000.00 |
| Non-Interest Expense | 5,960,000.00 | 5,913,000.00 | 6,678,000.00 | 5,867,000.00 | 5,700,000.00 |
| Gross Profit | 14,356,000.00 | 14,965,000.00 | 16,110,000.00 | 17,158,000.00 | 17,533,000.00 |
| Operating Expenses | 11,079,000.00 | 10,457,000.00 | 12,193,000.00 | 11,233,000.00 | 11,589,000.00 |
| Selling, General and Administrative Expenses | 5,960,000.00 | 5,913,000.00 | 6,678,000.00 | 5,867,000.00 | 5,700,000.00 |
| Research and Development Expenses | 5,119,000.00 | 4,544,000.00 | 5,515,000.00 | 5,366,000.00 | 5,889,000.00 |
| Operating Income | 3,277,000.00 | 4,508,000.00 | 3,917,000.00 | 5,925,000.00 | 5,944,000.00 |
| Net Non-Operating Income | 3,534,000.00 | 2,260,000.00 | 23,000.00 | 2,535,000.00 | -454,000.00 |
| EBT | 8,140,000.00 | 8,995,000.00 | 6,577,000.00 | 8,600,000.00 | 6,715,000.00 |
| Income Tax | 881,000.00 | 1,177,000.00 | 1,619,000.00 | 814,000.00 | 1,131,000.00 |
| Net Income Including Non-Controlling Interests | 7,259,000.00 | 7,818,000.00 | 4,958,000.00 | 7,786,000.00 | 5,584,000.00 |
| Net Income Non-Controlling Interests | 63,000.00 | -101,000.00 | 234,000.00 | -154,000.00 | -96,000.00 |
| Net Income | 7,322,000.00 | 7,717,000.00 | 4,604,000.00 | 7,632,000.00 | 5,488,000.00 |
| EBIT | 8,841,000.00 | 9,796,000.00 | 7,220,000.00 | 9,273,000.00 | 7,457,000.00 |
| EBITDA | 8,841,000.00 | 9,796,000.00 | 7,220,000.00 | 9,273,000.00 | 7,457,000.00 |
| EPS | 0.02 | 0.02 | 0.01 | 0.02 | 0.02 |
| Diluted EPS | 0.02 | 0.02 | 0.01 | 0.02 | 0.02 |
| Average Shares Outstanding Basic | 340,000.00 | 343,875.00 | 346,875.00 | 348,125.00 | 349,500.00 |
| Average Shares Outstanding Diluted | 341,250.00 | 345,250.00 | 347,875.00 | 348,625.00 | 350,500.00 |
| Breakdown | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|
| Operating Cash Flow | -877,000.00 | -6,001,000.00 | 2,356,000.00 | 4,279,000.00 | 8,379,000.00 |
| 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 | -877,000.00 | -6,001,000.00 | 2,356,000.00 | 4,279,000.00 | 8,379,000.00 |
| Investing Cash Flow | -8,541,000.00 | -1,205,000.00 | -5,637,000.00 | -13,963,000.00 | 14,161,000.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | 0 | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of Investments Net | 0 | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of Business | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | -8,541,000.00 | -1,205,000.00 | -5,637,000.00 | -13,963,000.00 | 14,161,000.00 |
| Financing Cash Flow | -9,153,000.00 | 20,499,000.00 | -1,670,000.00 | -5,399,000.00 | -9,077,000.00 |
| Net Issuance/Repayment of Debt | 0 | 0 | 0 | 0 | 0 |
| Net Issuance/Repurchase of Equity | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | -9,153,000.00 | 20,499,000.00 | -1,670,000.00 | -5,399,000.00 | -9,077,000.00 |
| Net Change in Cash | -18,571,000.00 | 13,293,000.00 | -4,951,000.00 | -15,083,000.00 | 13,463,000.00 |
| Cash at Beginning of Period | 49,876,000.00 | 36,589,000.00 | 40,897,000.00 | 56,785,000.00 | 43,234,000.00 |
| Cash at End of Period | 31,067,000.00 | 49,876,000.00 | 36,589,000.00 | 40,897,000.00 | 56,785,000.00 |
| Free Cash Flow | -877,000.00 | -6,001,000.00 | -5,903,000.00 | 4,279,000.00 | 8,379,000.00 |