Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings -7.83 41.92 3.93 -13.62
Price to Sales 1.30 1.86 2.28 3.05
Book Value Per Common Share -10.53 -3.03 -10.12 -19.31
Price to Book -3.80 -11.66 -3.84 -2.36
Price to Operating Cash Flow 2.73 4.39 4.82 5.97
Price to Free Cash Flow 2.73 4.39 4.82 11.88
Enterprise Value to EBITDA 20921.87 22856.55 16318.28 52111.96
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings 59.71 -10.38 11.07 -5.87
Price to Sales 5.34 5.72 4.64 5.05 6.29
Book Value Per Common Share -10.08 -10.40 -7.06 -10.53 -5.79
Price to Book -4.08 -4.00 -5.13 -3.80 -7.51
Price to Operating Cash Flow 12.59 10.36 17.73 9.72 12.36
Price to Free Cash Flow 12.59 18.41 39.88 3.19 12.36
Enterprise Value to EBITDA 54719.08 232569.84 32518.26 77461.93

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY -91.49
Revenue YoY 46.46 32.71 14.79
EBITDA YoY 11.84 -22.76 174.01
Net Profit YoY -89.85
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY
Revenue YoY 5.89 -6.78 -1.59 3.51
EBITDA YoY 320.19 -83.92 115.45
Net Profit YoY

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 6.23 4.38 4.02 4.26
Quick Ratio 0.36 0.43 0.31 0.32
Current Ratio 0.62 0.44 0.34 0.32
Debt to Equity 9.62 4.88 -29.19 -8.08
Long-Term Debt to Equity 6.17 3.31 -16.36 -3.73
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 3.68 10.73 2.30 6.23 2.11
Quick Ratio 0.41 0.50 0.48 0.36 0.43
Current Ratio 0.41 0.50 0.48 0.62 0.43
Debt to Equity 9.92 9.81 7.00 9.62 8.74
Long-Term Debt to Equity 6.66 6.51 4.89 6.17 6.02

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA -2.58 0.46 10.75 -3.65
ROE -27.36 2.73 -303.05 25.84
Gross Margin 62.41 68.92 71.26 67.99
Operating Margin 40.97 66.76 128.58 44.19
EBITDA Margin 62.11 81.34 139.77 58.55
Net Profit Margin -16.58 4.43 58.01 -22.40
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA 0.34 -2.00 1.72 -0.64 -4.05
ROE 3.73 -21.57 13.78 -6.75 -39.44
Gross Margin 63.36 65.01 61.79 60.70 62.83
Operating Margin 79.39 6.93 121.64 44.49 -49.78
EBITDA Margin 97.60 24.60 142.63 65.15 -28.51
Net Profit Margin 8.94 -55.08 41.87 -15.89 -107.13

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Dividend Yield
Dividend Payout Ratio
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Dividend Yield 0.00 0.00 0.00
Dividend Payout Ratio 530.49 112.34 -42.07

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 23,587,000.00 23,909,000.00 10,178,000.00 10,086,000.00
   Current Assets 4,764,000.00 2,804,000.00 1,567,000.00 2,010,000.00
      Cash and Short-Term Investments 742,000.00 577,000.00 445,000.00 469,000.00
            Cash and Cash Equivalents 674,000.00 539,000.00 445,000.00 469,000.00
            Short-Term Investments 68,000.00 38,000.00 57,000.00 0
      Net Receivables 2,034,000.00 2,176,000.00 1,007,000.00 1,495,000.00
      Inventory 0 0 0 0
      Other Current Assets 1,988,000.00 51,000.00 115,000.00 46,000.00
   Non-Current Assets 18,823,000.00 21,105,000.00 8,611,000.00 8,076,000.00
      Property, Plant, Equipment Net 12,572,000.00 14,151,000.00 4,718,000.00 4,803,000.00
      Goodwill 1,609,000.00 1,726,000.00 518,000.00 489,000.00
      Intangible Assets 2,892,000.00 3,699,000.00 2,847,000.00 2,687,000.00
      Long-Term Investments 164,000.00 65,000.00 428,000.00 30,000.00
      Non-Current Deferred Assets 37,000.00 40,000.00 43,000.00 52,000.00
      Other Non-Current Assets 1,549,000.00 1,424,000.00 57,000.00 15,000.00
Liabilities 21,365,000.00 19,841,000.00 10,539,000.00 11,510,000.00
   Current Liabilities 7,648,000.00 6,359,000.00 4,633,000.00 6,197,000.00
      Payables and Expenses 720,000.00 844,000.00 606,000.00 452,000.00
            Account Payables 67,000.00 85,000.00 44,000.00 39,000.00
            Current Accrued Liabilities 653,000.00 759,000.00 562,000.00 413,000.00
      Short-Term Debt 769,000.00 1,047,000.00 354,000.00 131,000.00
      Other Current Liabilities 6,159,000.00 4,468,000.00 3,673,000.00 5,614,000.00
   Non-Current Liabilities 13,717,000.00 13,482,000.00 5,906,000.00 5,313,000.00
      Long-Term Debt 11,511,000.00 11,007,000.00 4,249,000.00 3,556,000.00
      Other Non-Current Liabilities 2,206,000.00 2,475,000.00 1,657,000.00 1,757,000.00
Equity 2,222,000.00 4,068,000.00 -361,000.00 -1,424,000.00
   Shareholders Equity -1,253,000.00 -399,000.00 -1,119,000.00 -2,127,000.00
      Capital Stock 1,000.00 392,000.00 53,000.00 0
      Share Premium 0 0 0 0
      Retained Earnings 509,000.00 1,115,000.00 901,000.00 0
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income 581,000.00 473,000.00 306,000.00 0
   Minority Interest 3,475,000.00 4,467,000.00 758,000.00 703,000.00
Debt 12,280,000.00 12,054,000.00 4,603,000.00 3,687,000.00
Net Debt 11,606,000.00 11,515,000.00 4,158,000.00 3,218,000.00
Common Shares Outstanding 119,039.12 131,872.07 110,567.67 110,156.27
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 3,666,000.00 2,503,000.00 1,886,000.00 1,643,000.00
Cost Of Revenue 1,378,000.00 778,000.00 542,000.00 526,000.00
Interest Expense 1,065,000.00 697,000.00 544,000.00 294,000.00
Non-Interest Expense 75,000.00 67,000.00 69,000.00 49,000.00
Gross Profit 2,288,000.00 1,725,000.00 1,344,000.00 1,117,000.00
Operating Expenses 75,000.00 67,000.00 69,000.00 49,000.00
   Selling, General and Administrative Expenses 75,000.00 67,000.00 69,000.00 49,000.00
Operating Income 2,213,000.00 1,658,000.00 1,275,000.00 1,068,000.00
Net Non-Operating Income -595,000.00 10,000.00 1,097,000.00 -331,000.00
EBT 437,000.00 974,000.00 1,881,000.00 432,000.00
Income Tax 365,000.00 368,000.00 262,000.00 405,000.00
Net Income Including Non-Controlling Interests 72,000.00 606,000.00 1,619,000.00 27,000.00
Net Income Non-Controlling Interests -680,000.00 -495,000.00 -525,000.00 -395,000.00
Net Income -608,000.00 111,000.00 1,094,000.00 -368,000.00
EBIT 1,502,000.00 1,671,000.00 2,425,000.00 726,000.00
Deprecation and Amortization 775,000.00 365,000.00 211,000.00 236,000.00
EBITDA 2,277,000.00 2,036,000.00 2,636,000.00 962,000.00
EPS -0.01 0.00 0.01 -0.00
Diluted EPS -0.01 0.00 0.01 -0.00
Average Shares Outstanding Basic 119,039.12 131,872.07 110,567.67 110,156.27
Average Shares Outstanding Diluted 119,039.12 131,872.07 110,567.67 110,156.27
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 1,743,000.00 1,059,000.00 893,000.00 839,000.00
   Operating Net Income 72,000.00 606,000.00 1,619,000.00 27,000.00
   Deprecation and Amortization 775,000.00 365,000.00 211,000.00 236,000.00
   Deferred Income Tax 9,000.00 20,000.00 -79,000.00 171,000.00
   Share Based Compensation 0 0 0 0
   Change in Working Capital 87,000.00 6,000.00 173,000.00 35,000.00
   Other Operating Activities 800,000.00 62,000.00 -1,031,000.00 370,000.00
Investing Cash Flow -1,110,000.00 -3,174,000.00 -1,047,000.00 326,000.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE 315,000.00 75,000.00 4,000.00 -415,000.00
   Net Purchase/Sale of Investments Net 0 -4,000.00 -71,000.00 -76,000.00
   Net Purchase/Sale of Business 0 -2,651,000.00 -455,000.00 817,000.00
   Other Investing Activities 0 0 0 0
Financing Cash Flow -428,000.00 2,183,000.00 -4,000.00 -868,000.00
   Net Issuance/Repayment of Debt 1,469,000.00 -238,000.00 1,550,000.00 -288,000.00
   Net Issuance/Repurchase of Equity 1,000.00 0 0 128,000.00
   Dividends Paid 0 0 0 0
   Other Financing Activities 0 0 -1,554,000.00 -708,000.00
Net Change in Cash 205,000.00 68,000.00 -158,000.00 297,000.00
   Cash at Beginning of Period 539,000.00 445,000.00 469,000.00 192,000.00
   Cash at End of Period 674,000.00 539,000.00 445,000.00 469,000.00
Free Cash Flow 1,743,000.00 1,059,000.00 893,000.00 422,000.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Assets 23,994,000.00 23,910,000.00 22,570,000.00 23,587,000.00 24,131,000.00
   Current Assets 2,962,000.00 3,620,000.00 2,865,000.00 4,764,000.00 2,900,000.00
      Cash and Short-Term Investments 438,000.00 1,277,000.00 274,000.00 742,000.00 278,000.00
            Cash and Cash Equivalents 380,000.00 1,217,000.00 274,000.00 674,000.00 245,000.00
            Short-Term Investments 58,000.00 60,000.00 0 68,000.00 33,000.00
      Net Receivables 2,524,000.00 2,343,000.00 2,562,000.00 2,034,000.00 2,622,000.00
      Inventory 0 0 0 0 0
      Other Current Assets 0.00 0.00 29,000.00 1,988,000.00 0.00
   Non-Current Assets 21,032,000.00 20,290,000.00 19,705,000.00 18,823,000.00 21,231,000.00
      Property, Plant, Equipment Net 13,990,000.00 13,218,000.00 12,718,000.00 12,572,000.00 14,643,000.00
      Goodwill 1,704,000.00 1,670,000.00 1,644,000.00 1,609,000.00 1,670,000.00
      Intangible Assets 3,201,000.00 3,149,000.00 3,046,000.00 2,892,000.00 3,306,000.00
      Long-Term Investments 375,000.00 686,000.00 605,000.00 164,000.00 90,000.00
      Non-Current Deferred Assets 39,000.00 40,000.00 38,000.00 37,000.00 39,000.00
      Other Non-Current Assets 1,723,000.00 1,527,000.00 1,654,000.00 1,549,000.00 1,483,000.00
Liabilities 21,796,000.00 21,699,000.00 19,748,000.00 21,365,000.00 21,654,000.00
   Current Liabilities 7,151,000.00 7,313,000.00 5,948,000.00 7,648,000.00 6,738,000.00
      Payables and Expenses 1,127,000.00 1,200,000.00 956,000.00 720,000.00 1,182,000.00
            Account Payables 1,127,000.00 1,200,000.00 956,000.00 67,000.00 1,182,000.00
            Current Accrued Liabilities 0 0 0 653,000.00 0
      Short-Term Debt 1,190,000.00 1,202,000.00 604,000.00 769,000.00 900,000.00
      Other Current Liabilities 4,834,000.00 4,911,000.00 4,388,000.00 6,159,000.00 4,656,000.00
   Non-Current Liabilities 14,645,000.00 14,386,000.00 13,800,000.00 13,717,000.00 14,916,000.00
      Long-Term Debt 12,296,000.00 12,049,000.00 11,554,000.00 11,511,000.00 12,536,000.00
      Other Non-Current Liabilities 2,349,000.00 2,337,000.00 2,246,000.00 2,206,000.00 2,380,000.00
Equity 2,198,000.00 2,211,000.00 2,822,000.00 2,222,000.00 2,477,000.00
   Shareholders Equity -1,200,000.00 -1,238,000.00 -840,000.00 -1,253,000.00 -764,000.00
      Capital Stock 1,000.00 1,000.00 1,000.00 1,000.00 392,000.00
      Share Premium 0 0 0 0 0
      Retained Earnings 503,000.00 421,000.00 898,000.00 509,000.00 659,000.00
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income 640,000.00 684,000.00 605,000.00 581,000.00 564,000.00
   Minority Interest 3,398,000.00 3,449,000.00 3,662,000.00 3,475,000.00 3,241,000.00
Debt 13,486,000.00 13,251,000.00 12,158,000.00 12,280,000.00 13,436,000.00
Net Debt 13,106,000.00 12,034,000.00 11,884,000.00 11,606,000.00 13,191,000.00
Common Shares Outstanding 119,067.43 119,051.45 119,024.08 119,039.12 132,023.56
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30
Revenues 917,000.00 866,000.00 929,000.00 944,000.00 912,000.00 0
Cost Of Revenue 336,000.00 303,000.00 355,000.00 371,000.00 339,000.00 0
Interest Expense 312,000.00 267,000.00 273,000.00 298,000.00 269,000.00 0
Non-Interest Expense 20,000.00 20,000.00 19,000.00 19,000.00 21,000.00 0
Gross Profit 581,000.00 563,000.00 574,000.00 573,000.00 573,000.00 0
Operating Expenses 20,000.00 20,000.00 19,000.00 19,000.00 21,000.00 0
   Selling, General and Administrative Expenses 20,000.00 20,000.00 19,000.00 19,000.00 21,000.00 0
Operating Income 561,000.00 543,000.00 555,000.00 554,000.00 552,000.00 0
Net Non-Operating Income 186,000.00 -564,000.00 576,000.00 -35,000.00 -1,025,000.00 0
EBT 416,000.00 -207,000.00 857,000.00 122,000.00 -723,000.00 0
Income Tax 96,000.00 102,000.00 95,000.00 82,000.00 85,000.00 0
Net Income Including Non-Controlling Interests 320,000.00 -309,000.00 762,000.00 40,000.00 -808,000.00 0
Net Income Non-Controlling Interests -238,000.00 -168,000.00 -373,000.00 -190,000.00 -169,000.00 0
Net Income 82,000.00 -477,000.00 389,000.00 -150,000.00 -977,000.00 0
EBIT 728,000.00 60,000.00 1,130,000.00 420,000.00 -454,000.00 0
Deprecation and Amortization 167,000.00 153,000.00 195,000.00 195,000.00 194,000.00 0
EBITDA 895,000.00 213,000.00 1,325,000.00 615,000.00 -260,000.00 0
EPS 0.00 -0.00 0.00 0 -0.01 0.00
Diluted EPS 0.00 -0.00 0.00 0 -0.01 0.00
Average Shares Outstanding Basic 119,067.43 119,051.45 119,024.08 0 132,023.56 131,991.11
Average Shares Outstanding Diluted 119,067.43 119,051.45 119,024.08 0 132,023.56 131,991.11
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Operating Cash Flow 389,000.00 478,000.00 243,000.00 490,000.00 464,000.00
   Operating Net Income 320,000.00 -309,000.00 762,000.00 40,000.00 -808,000.00
   Deprecation and Amortization 167,000.00 153,000.00 195,000.00 195,000.00 194,000.00
   Deferred Income Tax 10,000.00 8,000.00 -22,000.00 1,000.00 5,000.00
   Share Based Compensation 0 0 0 0 0
   Change in Working Capital 46,000.00 134,000.00 -126,000.00 15,000.00 56,000.00
   Other Operating Activities -154,000.00 492,000.00 -566,000.00 239,000.00 1,017,000.00
Investing Cash Flow -873,000.00 195,000.00 -32,000.00 -461,000.00 -335,000.00
   Capital Expenditure 0 0 0 0 0
   Net Purchase/Sale of PPE 45,000.00 -168,000.00 -74,000.00 1,070,000.00 71,000.00
   Net Purchase/Sale of Investments Net 0 -35,000.00 235,000.00 0 0
   Net Purchase/Sale of Business 328,000.00 0 431,000.00 0 0
   Other Investing Activities -1,246,000.00 398,000.00 -624,000.00 -1,531,000.00 -406,000.00
Financing Cash Flow -355,000.00 257,000.00 -657,000.00 429,000.00 -351,000.00
   Net Issuance/Repayment of Debt -75,000.00 604,000.00 -470,000.00 523,000.00 -70,000.00
   Net Issuance/Repurchase of Equity 3,000.00 0 0 0 3,000.00
   Dividends Paid -435,000.00 0 -437,000.00 0 -411,000.00
   Other Financing Activities 152,000.00 0 0 0 127,000.00
Net Change in Cash -839,000.00 930,000.00 -446,000.00 458,000.00 -222,000.00
   Cash at Beginning of Period 1,217,000.00 274,000.00 674,000.00 245,000.00 466,000.00
   Cash at End of Period 380,000.00 1,217,000.00 274,000.00 674,000.00 245,000.00
Free Cash Flow 389,000.00 269,000.00 108,000.00 1,491,000.00 464,000.00