BNR
Valuation Ratios
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Price to Earnings | -0.20 | -0.15 | -0.24 | -1.25 |
| Price to Sales | 0.13 | 0.18 | 0.42 | 1.96 |
| Book Value Per Common Share | 5.40 | 7.50 | 11.29 | 17.56 |
| Price to Book | 1.25 | 1.24 | 1.99 | 5.43 |
| Price to Operating Cash Flow | -0.75 | -0.37 | -0.51 | -2.08 |
| Price to Free Cash Flow | -0.71 | -0.36 | -0.44 | -1.44 |
| Enterprise Value to EBITDA |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Price to Earnings | -5.41 | -3.51 | -3.46 | -0.85 | -0.93 |
| Price to Sales | 0.71 | 0.23 | 0.36 | 0.55 | 0.26 |
| Book Value Per Common Share | 51.01 | 5.24 | 5.31 | 5.40 | 6.02 |
| Price to Book | 0.17 | 0.60 | 0.85 | 1.25 | 0.54 |
| Price to Operating Cash Flow | 5.68 | -0.77 | -2.06 | 3.66 | -1.11 |
| Price to Free Cash Flow | 5.68 | -0.77 | -2.06 | 5.33 | -1.11 |
| Enterprise Value to EBITDA |
Earnings Data
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Earning YoY | ||||
| Revenue YoY | -4.02 | -4.58 | 10.90 | |
| EBITDA YoY | ||||
| Net Profit YoY |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Earning YoY | |||||
| Revenue YoY | -11.40 | 11.63 | 5.60 | -2.04 | |
| EBITDA YoY | |||||
| Net Profit YoY |
Financial Strength
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Cash Per Common Share | 50.50 | 60.07 | 87.14 | 143.47 |
| Quick Ratio | 2.60 | 2.97 | 2.61 | 4.45 |
| Current Ratio | 2.92 | 3.36 | 3.06 | 4.89 |
| Debt to Equity | 0.52 | 0.35 | 0.37 | 0.23 |
| Long-Term Debt to Equity | 0.07 | 0.01 | 0.02 | 0.03 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Cash Per Common Share | 43.07 | 42.04 | 46.01 | 50.29 | 48.24 |
| Quick Ratio | 2.81 | 2.86 | 2.66 | 2.60 | 2.66 |
| Current Ratio | 3.14 | 3.22 | 3.02 | 2.92 | 3.04 |
| Debt to Equity | 0.48 | 0.46 | 0.49 | 0.52 | 0.52 |
| Long-Term Debt to Equity | 0.05 | 0.05 | 0.05 | 0.07 | 0.12 |
Profitability
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| ROA | -39.15 | -62.85 | -61.18 | -34.96 |
| ROE | -59.68 | -85.07 | -83.85 | -43.17 |
| Gross Margin | 70.26 | 67.59 | 67.47 | 71.70 |
| Operating Margin | -62.51 | -124.54 | -174.07 | -156.39 |
| EBITDA Margin | -52.39 | -99.72 | -152.03 | -146.99 |
| Net Profit Margin | -67.20 | -121.63 | -172.44 | -156.87 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| ROA | -2.06 | -1.18 | -1.58 | -9.18 | -3.63 |
| ROE | -3.05 | -1.72 | -2.36 | -14.00 | -5.51 |
| Gross Margin | 75.10 | 72.77 | 73.19 | 70.96 | 71.40 |
| Operating Margin | -12.56 | -7.74 | -11.41 | -37.14 | -27.63 |
| EBITDA Margin | -12.56 | -7.74 | -11.41 | -37.14 | -27.63 |
| Net Profit Margin | -12.73 | -6.53 | -10.14 | -64.51 | -27.79 |
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 | |||||
| Dividend Payout Ratio |
Financial Statements
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Assets | 885,305.00 | 1,040,001.00 | 1,587,467.00 | 2,278,587.00 |
| Current Assets | 776,618.00 | 884,096.00 | 1,258,762.00 | 1,820,946.00 |
| Cash and Short-Term Investments | 519,849.00 | 615,096.00 | 905,451.00 | 1,495,074.00 |
| Cash and Cash Equivalents | 519,849.00 | 615,096.00 | 905,451.00 | 1,431,317.00 |
| Short-Term Investments | 0 | 0 | 0 | 63,757.00 |
| Net Receivables | 173,447.00 | 167,812.00 | 170,230.00 | 161,431.00 |
| Inventory | 53,763.00 | 69,020.00 | 130,321.00 | 123,210.00 |
| Other Current Assets | 29,559.00 | 32,168.00 | 52,760.00 | 41,231.00 |
| Non-Current Assets | 108,687.00 | 155,905.00 | 328,705.00 | 457,641.00 |
| Property, Plant, Equipment Net | 100,340.00 | 144,196.00 | 300,034.00 | 406,445.00 |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 421.00 | 964.00 | 1,986.00 | 5,150.00 |
| Long-Term Investments | 0 | 337.00 | 690.00 | 910.00 |
| Non-Current Deferred Assets | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 7,926.00 | 10,408.00 | 25,995.00 | 45,136.00 |
| Liabilities | 304,478.00 | 271,591.00 | 429,126.00 | 433,276.00 |
| Current Liabilities | 266,299.00 | 263,364.00 | 411,451.00 | 372,184.00 |
| Payables and Expenses | 105,145.00 | 104,051.00 | 166,200.00 | 177,804.00 |
| Account Payables | 33,747.00 | 18,061.00 | 50,947.00 | 63,080.00 |
| Current Accrued Liabilities | 56,940.00 | 65,371.00 | 104,228.00 | 107,032.00 |
| Short-Term Debt | 24,567.00 | 8,634.00 | 37,236.00 | 37,369.00 |
| Other Current Liabilities | 136,587.00 | 150,679.00 | 208,015.00 | 157,011.00 |
| Non-Current Liabilities | 38,179.00 | 8,227.00 | 17,675.00 | 61,092.00 |
| Long-Term Debt | 27,754.00 | 3,690.00 | 13,551.00 | 49,316.00 |
| Other Non-Current Liabilities | 10,425.00 | 4,537.00 | 4,124.00 | 11,776.00 |
| Equity | 580,827.00 | 768,410.00 | 1,158,341.00 | 1,845,311.00 |
| Shareholders Equity | 580,827.00 | 768,410.00 | 1,158,341.00 | 1,845,311.00 |
| Capital Stock | 145.00 | 137.00 | 138.00 | 137.00 |
| Share Premium | 5,002,255.00 | 4,849,337.00 | 4,582,790.00 | 4,280,956.00 |
| Retained Earnings | -4,200,261.00 | -3,853,635.00 | -3,199,946.00 | -2,228,713.00 |
| Treasury Shares | 63,264.00 | 65,896.00 | 58,919.00 | 0 |
| Accumulated Other Comprehensive Income | -158,048.00 | -161,533.00 | -165,722.00 | -207,069.00 |
| Minority Interest | 0 | 0 | 0 | 0 |
| Debt | 52,321.00 | 12,324.00 | 50,787.00 | 86,685.00 |
| Common Shares Outstanding | 107,613.97 | 102,440.45 | 102,643.44 | 105,108.85 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Revenues | 515,822.00 | 537,435.00 | 563,238.00 | 507,862.00 |
| Cost Of Revenue | 153,422.00 | 174,208.00 | 183,199.00 | 143,716.00 |
| Interest Income | 12,212.00 | 17,956.00 | 9,458.00 | 3,457.00 |
| Interest Expense | 0 | 0 | 0 | 1,536.00 |
| Non-Interest Expense | 452,542.00 | 685,532.00 | 938,578.00 | 793,352.00 |
| Gross Profit | 362,400.00 | 363,227.00 | 380,039.00 | 364,146.00 |
| Operating Expenses | 684,832.00 | 1,032,548.00 | 1,360,446.00 | 1,161,210.00 |
| Selling, General and Administrative Expenses | 452,542.00 | 685,532.00 | 938,578.00 | 793,352.00 |
| Research and Development Expenses | 232,290.00 | 347,016.00 | 421,868.00 | 367,858.00 |
| Operating Income | -322,432.00 | -669,321.00 | -980,407.00 | -797,064.00 |
| Net Non-Operating Income | 4,706.00 | 484.00 | 152.00 | 199.00 |
| EBT | -340,741.00 | -651,301.00 | -969,248.00 | -795,798.00 |
| Income Tax | 5,885.00 | 2,388.00 | 1,985.00 | 899.00 |
| Net Income Including Non-Controlling Interests | -346,626.00 | -653,689.00 | -971,233.00 | -796,697.00 |
| Net Income | -346,626.00 | -653,689.00 | -971,233.00 | -796,697.00 |
| EBIT | -322,432.00 | -669,321.00 | -980,407.00 | -794,262.00 |
| Deprecation and Amortization | 52,200.00 | 133,400.00 | 124,096.00 | 47,766.00 |
| EBITDA | -270,232.00 | -535,921.00 | -856,311.00 | -746,496.00 |
| EPS | -0.03 | -0.06 | -0.09 | -0.08 |
| Diluted EPS | -0.03 | -0.06 | -0.09 | -0.08 |
| Average Shares Outstanding Basic | 10,293.50 | 10,239.65 | 10,390.90 | 10,420.79 |
| Average Shares Outstanding Diluted | 10,293.50 | 10,239.65 | 10,390.90 | 10,420.79 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Operating Cash Flow | -92,261.00 | -255,783.00 | -456,808.00 | -477,886.00 |
| Operating Net Income | -346,626.00 | -653,689.00 | -971,233.00 | -796,697.00 |
| Deprecation and Amortization | 52,200.00 | 133,400.00 | 124,096.00 | 47,766.00 |
| Deferred Income Tax | 0 | 0 | 0 | 0 |
| Share Based Compensation | 155,622.00 | 260,719.00 | 326,784.00 | 282,433.00 |
| Change in Working Capital | -36,532.00 | -52,157.00 | -11,159.00 | -62,395.00 |
| Other Operating Activities | 83,075.00 | 55,944.00 | 74,704.00 | 51,007.00 |
| Investing Cash Flow | -4,412.00 | -9,300.00 | -7,463.00 | 81,697.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | -3,854.00 | -8,020.00 | -67,876.00 | -210,354.00 |
| Net Purchase/Sale of Investments Net | 0 | 0 | 65,598.00 | 294,580.00 |
| Net Purchase/Sale of Business | 0 | 0 | 0 | 0 |
| Other Investing Activities | -558.00 | -1,280.00 | -5,185.00 | -2,529.00 |
| Financing Cash Flow | -72.00 | -48,832.00 | -86,239.00 | -52,899.00 |
| Net Issuance/Repayment of Debt | 0 | 0 | -2,370.00 | -44,806.00 |
| Net Issuance/Repurchase of Equity | 0 | 0 | -71,834.00 | -4,270.00 |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Other Financing Activities | 0 | 0 | -12,035.00 | -3,823.00 |
| Net Change in Cash | -96,745.00 | -313,915.00 | -550,510.00 | -449,088.00 |
| Cash at Beginning of Period | 615,216.00 | 925,268.00 | 1,439,112.00 | 1,925,206.00 |
| Cash at End of Period | 522,162.00 | 615,216.00 | 925,268.00 | 1,439,112.00 |
| Free Cash Flow | -98,238.00 | -265,167.00 | -527,283.00 | -691,334.00 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Assets | 812,168.00 | 824,931.00 | 854,717.00 | 885,305.00 | 984,805.00 |
| Current Assets | 739,323.00 | 740,812.00 | 761,543.00 | 776,618.00 | 784,875.00 |
| Cash and Short-Term Investments | 463,994.00 | 452,721.00 | 495,145.00 | 519,849.00 | 497,969.00 |
| Cash and Cash Equivalents | 463,994.00 | 452,721.00 | 495,145.00 | 519,849.00 | 497,969.00 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 196,890.00 | 204,724.00 | 176,641.00 | 173,447.00 | 189,561.00 |
| Inventory | 54,469.00 | 57,810.00 | 65,424.00 | 53,763.00 | 66,444.00 |
| Other Current Assets | 23,970.00 | 25,557.00 | 24,333.00 | 29,559.00 | 30,901.00 |
| Non-Current Assets | 72,845.00 | 84,119.00 | 93,174.00 | 108,687.00 | 199,930.00 |
| Property, Plant, Equipment Net | 66,036.00 | 77,136.00 | 84,966.00 | 100,340.00 | 189,440.00 |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 421.00 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 243.00 |
| Non-Current Deferred Assets | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 7,926.00 | 0 |
| Liabilities | 262,591.00 | 260,696.00 | 282,915.00 | 304,478.00 | 336,639.00 |
| Current Liabilities | 235,112.00 | 230,131.00 | 252,452.00 | 266,299.00 | 258,480.00 |
| Payables and Expenses | 111,269.00 | 107,284.00 | 112,136.00 | 105,145.00 | 119,323.00 |
| Account Payables | 34,277.00 | 32,164.00 | 35,938.00 | 33,747.00 | 25,213.00 |
| Current Accrued Liabilities | 76,992.00 | 75,120.00 | 76,198.00 | 56,940.00 | 94,110.00 |
| Short-Term Debt | 16,803.00 | 19,455.00 | 22,524.00 | 24,567.00 | 27,842.00 |
| Other Current Liabilities | 107,040.00 | 103,392.00 | 117,792.00 | 136,587.00 | 111,315.00 |
| Non-Current Liabilities | 27,479.00 | 30,565.00 | 30,463.00 | 38,179.00 | 78,159.00 |
| Long-Term Debt | 16,377.00 | 19,671.00 | 19,814.00 | 27,754.00 | 73,055.00 |
| Other Non-Current Liabilities | 11,102.00 | 10,894.00 | 10,649.00 | 10,425.00 | 5,104.00 |
| Equity | 549,577.00 | 564,235.00 | 571,802.00 | 580,827.00 | 648,166.00 |
| Shareholders Equity | 549,577.00 | 564,235.00 | 571,802.00 | 580,827.00 | 648,166.00 |
| Capital Stock | 141.00 | 145.00 | 145.00 | 145.00 | 139.00 |
| Share Premium | 5,006,937.00 | 5,006,839.00 | 5,005,991.00 | 5,002,255.00 | 4,996,947.00 |
| Retained Earnings | -4,240,221.00 | -4,223,463.00 | -4,213,761.00 | -4,200,261.00 | -4,118,967.00 |
| Treasury Shares | 57,193.00 | 60,923.00 | 62,453.00 | 63,264.00 | 65,896.00 |
| Accumulated Other Comprehensive Income | -160,087.00 | -158,363.00 | -158,120.00 | -158,048.00 | -164,057.00 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| Debt | 33,180.00 | 39,126.00 | 42,338.00 | 52,321.00 | 100,897.00 |
| Common Shares Outstanding | 0 | 107,665.96 | 107,665.96 | 107,613.97 | 107,613.97 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Revenues | 131,617.00 | 148,554.00 | 133,082.00 | 126,022.00 | 128,644.00 |
| Cost Of Revenue | 32,773.00 | 40,451.00 | 35,681.00 | 36,600.00 | 36,798.00 |
| Interest Income | 1,744.00 | 2,226.00 | 2,581.00 | 1,814.00 | 3,173.00 |
| Interest Expense | 15.00 | 0 | 0 | 0 | 0 |
| Non-Interest Expense | 73,506.00 | 69,830.00 | 72,191.00 | 84,019.00 | 81,285.00 |
| Gross Profit | 98,844.00 | 108,103.00 | 97,401.00 | 89,422.00 | 91,846.00 |
| Operating Expenses | 114,975.00 | 119,600.00 | 112,580.00 | 136,222.00 | 130,435.00 |
| Selling, General and Administrative Expenses | 73,506.00 | 69,830.00 | 72,191.00 | 84,019.00 | 81,285.00 |
| Research and Development Expenses | 41,469.00 | 49,770.00 | 40,389.00 | 52,203.00 | 49,150.00 |
| Operating Income | -16,131.00 | -11,497.00 | -15,179.00 | -46,800.00 | -38,589.00 |
| Net Non-Operating Income | 7.00 | 387.00 | -652.00 | 4,353.00 | 1.00 |
| EBT | -16,546.00 | -9,458.00 | -13,276.00 | -75,980.00 | -35,544.00 |
| Income Tax | 212.00 | 244.00 | 224.00 | 5,314.00 | 201.00 |
| Net Income Including Non-Controlling Interests | -16,758.00 | -9,702.00 | -13,500.00 | -81,294.00 | -35,745.00 |
| Net Income | -16,758.00 | -9,702.00 | -13,500.00 | -81,294.00 | -35,745.00 |
| EBIT | -16,531.00 | -11,497.00 | -15,179.00 | -46,800.00 | -35,544.00 |
| EBITDA | -16,531.00 | -11,497.00 | -15,179.00 | -46,800.00 | -35,544.00 |
| EPS | -0.00 | -0.00 | -0.00 | -0.01 | -0.00 |
| Diluted EPS | -0.00 | -0.00 | -0.00 | -0.01 | -0.00 |
| Average Shares Outstanding Basic | 10,774.15 | 10,768.28 | 10,761.65 | 10,336.11 | 10,322.75 |
| Average Shares Outstanding Diluted | 10,774.15 | 10,768.28 | 10,761.65 | 10,336.11 | 10,322.75 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Operating Cash Flow | 16,394.00 | -44,349.00 | -23,527.00 | 19,062.00 | -30,278.00 |
| 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 | 16,394.00 | -44,349.00 | -23,527.00 | 19,062.00 | -30,278.00 |
| Investing Cash Flow | -2,747.00 | 207.00 | -1,531.00 | -812.00 | -987.00 |
| 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 | -2,747.00 | 207.00 | -1,531.00 | -812.00 | -987.00 |
| Financing Cash Flow | 0 | 2,000.00 | 0 | -74.00 | 2.00 |
| 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 | 0 | 2,000.00 | 0 | -74.00 | 2.00 |
| Net Change in Cash | 13,647.00 | -42,142.00 | -25,058.00 | 18,176.00 | -31,263.00 |
| Cash at Beginning of Period | 455,024.00 | 497,406.00 | 522,162.00 | 498,247.00 | 533,047.00 |
| Cash at End of Period | 466,979.00 | 455,024.00 | 497,406.00 | 522,162.00 | 498,247.00 |
| Free Cash Flow | 16,394.00 | -44,349.00 | -23,527.00 | 13,085.00 | -30,278.00 |