Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 207.00 6.72 -44.44 11.81
Price to Sales 0.43 0.49 0.46 0.57
Book Value Per Common Share 3.74 4.18 3.72 3.82
Price to Book 7.91 8.47 9.39 6.97
Price to Operating Cash Flow 2.96 3.20 2.70 3.78
Price to Free Cash Flow 6.73 5.77 3.83 7.02
Enterprise Value to EBITDA 167438.78 136901.64 196078.21 161511.56
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings 76.78 47.92 129.46 -39.96 415.21
Price to Sales 1.84 1.67 1.89 1.71 1.81
Book Value Per Common Share 3.77 3.80 3.69 3.74 4.07
Price to Book 9.13 7.87 9.16 7.91 7.70
Price to Operating Cash Flow 11.45 12.45 31.35 10.54 12.63
Price to Free Cash Flow 19.31 25.72 -171.87 22.15 33.64
Enterprise Value to EBITDA 592715.83 532412.61 617619.18 906449.86 754954.17

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY -97.29
Revenue YoY -9.97 -12.95 53.03
EBITDA YoY -35.68 34.49 -0.62
Net Profit YoY -97.44
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY -28.15 139.31
Revenue YoY 3.85 -0.59 2.52 -3.18
EBITDA YoY 2.54 1.38 67.03 -21.87
Net Profit YoY -28.69 136.97

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 12.64 9.88 7.55 7.82
Quick Ratio
Current Ratio 1.25 1.21 1.09 1.15
Debt to Equity 2.60 2.28 2.47 2.18
Long-Term Debt to Equity 1.55 1.27 1.28 1.29
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 13.55 13.54 12.95 13.04 12.78
Quick Ratio
Current Ratio 1.19 1.21 1.22 1.25 1.22
Debt to Equity 2.61 2.57 2.61 2.60 2.37
Long-Term Debt to Equity 1.58 1.52 1.55 1.55 1.41

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 0.14 5.44 -0.86 2.63
ROE 0.50 17.82 -3.00 8.36
Gross Margin 15.98 22.88 22.82 14.49
Operating Margin 6.01 13.12 7.47 11.25
EBITDA Margin 14.79 20.70 13.40 20.63
Net Profit Margin 0.21 7.25 -1.03 4.79
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA 0.41 0.57 0.24 -0.69 0.08
ROE 1.50 2.04 0.88 -2.50 0.26
Gross Margin 18.31 18.32 18.00 12.65 15.92
Operating Margin 9.30 8.82 9.49 1.72 5.29
EBITDA Margin 18.54 18.77 18.41 11.30 14.00
Net Profit Margin 2.40 3.49 1.46 -4.28 0.44

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 1282.82 31.56 -175.16 56.91
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Dividend Yield 0.00 0.00 0.00 0.00 0.00
Dividend Payout Ratio 110.94 76.04 182.97 -65.49 629.61

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 282,228,000.00 280,294,000.00 288,120,000.00 287,272,000.00
   Current Assets 102,834,000.00 104,146,000.00 107,688,000.00 92,590,000.00
      Cash and Short-Term Investments 34,525,000.00 28,591,000.00 23,907,000.00 26,221,000.00
            Cash and Cash Equivalents 34,360,000.00 27,748,000.00 23,329,000.00 25,941,000.00
            Short-Term Investments 165,000.00 843,000.00 578,000.00 280,000.00
      Net Receivables 0 0 0 0
      Inventory 23,232,000.00 22,819,000.00 28,081,000.00 23,711,000.00
      Other Current Assets 45,077,000.00 52,736,000.00 55,700,000.00 42,658,000.00
   Non-Current Assets 179,394,000.00 176,148,000.00 180,432,000.00 194,682,000.00
      Property, Plant, Equipment Net 104,676,000.00 109,047,000.00 110,257,000.00 117,191,000.00
      Goodwill 14,888,000.00 12,472,000.00 11,960,000.00 12,373,000.00
      Intangible Assets 5,208,000.00 5,663,000.00 5,987,000.00 2,162,000.00
      Long-Term Investments 0 0 0 0
      Non-Current Deferred Assets 0 0 0 0
      Other Non-Current Assets 54,622,000.00 48,966,000.00 52,228,000.00 62,956,000.00
Liabilities 203,910,000.00 194,801,000.00 205,130,000.00 196,833,000.00
   Current Liabilities 82,241,000.00 86,078,000.00 99,018,000.00 80,287,000.00
      Payables and Expenses 0 0 0 0
            Account Payables 38,636,000.00 42,406,000.00 47,210,000.00 37,327,000.00
            Current Accrued Liabilities 0 0 0 0
      Short-Term Debt 7,134,000.00 5,934,000.00 5,300,000.00 7,304,000.00
      Other Current Liabilities 75,107,000.00 80,144,000.00 93,718,000.00 72,983,000.00
   Non-Current Liabilities 121,669,000.00 108,723,000.00 106,112,000.00 116,546,000.00
      Long-Term Debt 64,413,000.00 57,141,000.00 50,193,000.00 62,483,000.00
      Other Non-Current Liabilities 57,256,000.00 51,582,000.00 55,919,000.00 54,063,000.00
Equity 78,318,000.00 85,493,000.00 82,990,000.00 90,439,000.00
   Shareholders Equity 59,246,000.00 70,283,000.00 67,553,000.00 75,463,000.00
      Capital Stock 4,186,000.00 4,496,000.00 4,795,000.00 5,215,000.00
      Share Premium 16,837,000.00 16,311,000.00 15,872,000.00 14,450,000.00
      Retained Earnings 22,531,000.00 35,339,000.00 34,732,000.00 51,815,000.00
      Treasury Shares 9,030,000.00 11,323,000.00 12,153,000.00 12,624,000.00
      Accumulated Other Comprehensive Income 0 0 0 0
   Minority Interest 19,072,000.00 15,210,000.00 15,437,000.00 14,976,000.00
Debt 71,547,000.00 63,075,000.00 55,493,000.00 69,787,000.00
Net Debt 25,187,000.00 24,206,000.00 23,615,000.00 35,235,000.00
Common Shares Outstanding 15,850,481.41 16,823,721.59 18,157,212.00 19,740,880.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 189,185,000.00 210,130,000.00 241,392,000.00 157,739,000.00
Cost Of Revenue 158,946,000.00 162,058,000.00 186,296,000.00 134,879,000.00
Interest Income 2,773,000.00 1,635,000.00 1,103,000.00 581,000.00
Interest Expense 4,579,000.00 3,826,000.00 2,623,000.00 2,517,000.00
Non-Interest Expense 16,417,000.00 16,772,000.00 13,449,000.00 11,931,000.00
Gross Profit 30,239,000.00 48,072,000.00 55,096,000.00 22,860,000.00
Operating Expenses 16,624,000.00 17,023,000.00 13,649,000.00 12,188,000.00
   Selling, General and Administrative Expenses 16,417,000.00 16,772,000.00 13,449,000.00 11,931,000.00
   Other Operating Expenses 207,000.00 251,000.00 200,000.00 257,000.00
Operating Income 13,615,000.00 31,049,000.00 41,447,000.00 10,672,000.00
EBT 6,782,000.00 23,749,000.00 15,405,000.00 15,227,000.00
Income Tax 5,553,000.00 7,869,000.00 16,762,000.00 6,740,000.00
Net Income Including Non-Controlling Interests 1,229,000.00 15,880,000.00 -1,357,000.00 8,487,000.00
Net Income Non-Controlling Interests -848,000.00 -641,000.00 -1,130,000.00 -922,000.00
Net Income 390,000.00 15,238,000.00 -2,488,000.00 7,563,000.00
EBIT 11,361,000.00 27,575,000.00 18,028,000.00 17,744,000.00
Deprecation and Amortization 16,622,000.00 15,928,000.00 14,318,000.00 14,805,000.00
EBITDA 27,983,000.00 43,503,000.00 32,346,000.00 32,549,000.00
EPS 0.00 0.01 -0.00 0.00
Diluted EPS 0.00 0.01 -0.00 0.00
Average Shares Outstanding Basic 2,730,922.50 2,893,381.33 3,164,656.00 3,354,810.33
Average Shares Outstanding Diluted 2,802,777.33 2,958,346.33 3,164,656.00 3,376,731.33
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 27,297,000.00 32,039,000.00 40,932,000.00 23,612,000.00
   Operating Net Income 6,782,000.00 23,749,000.00 15,405,000.00 15,227,000.00
   Deprecation and Amortization 0 0 0 0
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 1,174,000.00 616,000.00 795,000.00 627,000.00
   Change in Working Capital 3,975,000.00 -3,338,000.00 -6,270,000.00 -626,000.00
   Other Operating Activities 15,366,000.00 11,012,000.00 31,002,000.00 8,384,000.00
Investing Cash Flow -13,250,000.00 -14,872,000.00 -13,713,000.00 -5,694,000.00
   Capital Expenditure -15,297,000.00 -14,285,000.00 -12,069,000.00 -10,887,000.00
   Net Purchase/Sale of PPE 328,000.00 133,000.00 709,000.00 1,145,000.00
   Net Purchase/Sale of Investments Net 0 0 0 0
   Net Purchase/Sale of Business 1,638,000.00 -775,000.00 -2,420,000.00 3,851,000.00
   Other Investing Activities 81,000.00 55,000.00 67,000.00 197,000.00
Financing Cash Flow -7,297,000.00 -13,359,000.00 -28,021,000.00 -18,079,000.00
   Net Issuance/Repayment of Debt 4,720,000.00 2,805,000.00 -11,076,000.00 -8,740,000.00
   Net Issuance/Repurchase of Equity -7,127,000.00 -7,918,000.00 -9,996,000.00 -3,151,000.00
   Dividends Paid -5,003,000.00 -4,809,000.00 -4,358,000.00 -4,304,000.00
   Other Financing Activities 113,000.00 -3,437,000.00 -2,591,000.00 -1,884,000.00
Net Change in Cash 6,750,000.00 3,808,000.00 -802,000.00 -161,000.00
   Cash at Beginning of Period 33,030,000.00 29,195,000.00 30,681,000.00 31,111,000.00
   Cash at End of Period 39,269,000.00 33,030,000.00 29,195,000.00 30,681,000.00
Free Cash Flow 12,000,000.00 17,754,000.00 28,863,000.00 12,725,000.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Assets 280,459,000.00 284,737,000.00 281,396,000.00 282,228,000.00 269,708,000.00
   Current Assets 95,858,000.00 102,073,000.00 101,077,000.00 102,834,000.00 93,682,000.00
      Cash and Short-Term Investments 35,048,000.00 35,312,000.00 34,049,000.00 34,525,000.00 34,762,000.00
            Cash and Cash Equivalents 34,909,000.00 35,067,000.00 33,774,000.00 34,360,000.00 34,595,000.00
            Short-Term Investments 139,000.00 245,000.00 275,000.00 165,000.00 167,000.00
      Net Receivables 0 0 0 0 0
      Inventory 24,154,000.00 24,752,000.00 24,708,000.00 23,232,000.00 21,493,000.00
      Other Current Assets 36,656,000.00 42,009,000.00 42,320,000.00 45,077,000.00 37,427,000.00
   Non-Current Assets 184,601,000.00 182,664,000.00 180,319,000.00 179,394,000.00 176,026,000.00
      Property, Plant, Equipment Net 100,363,000.00 100,862,000.00 100,469,000.00 104,676,000.00 99,555,000.00
      Goodwill 15,114,000.00 15,180,000.00 14,909,000.00 14,888,000.00 12,873,000.00
      Intangible Assets 9,007,000.00 9,271,000.00 9,124,000.00 5,208,000.00 10,626,000.00
      Long-Term Investments 0 0 0 0 0
      Non-Current Deferred Assets 0 0 0 0 0
      Other Non-Current Assets 60,117,000.00 57,351,000.00 55,817,000.00 54,622,000.00 52,972,000.00
Liabilities 202,814,000.00 204,957,000.00 203,444,000.00 203,910,000.00 189,762,000.00
   Current Liabilities 80,360,000.00 84,091,000.00 82,812,000.00 82,241,000.00 77,019,000.00
      Payables and Expenses 0 0 0 0 0
            Account Payables 54,625,000.00 57,324,000.00 58,821,000.00 38,636,000.00 54,385,000.00
            Current Accrued Liabilities 0 0 0 0 0
      Short-Term Debt 8,852,000.00 8,708,000.00 7,570,000.00 7,134,000.00 7,210,000.00
      Other Current Liabilities 71,508,000.00 75,383,000.00 75,242,000.00 75,107,000.00 69,809,000.00
   Non-Current Liabilities 122,454,000.00 120,866,000.00 120,632,000.00 121,669,000.00 112,743,000.00
      Long-Term Debt 65,965,000.00 66,274,000.00 63,560,000.00 64,413,000.00 61,278,000.00
      Other Non-Current Liabilities 56,489,000.00 54,592,000.00 57,072,000.00 57,256,000.00 51,465,000.00
Equity 77,645,000.00 79,780,000.00 77,952,000.00 78,318,000.00 79,946,000.00
   Shareholders Equity 58,244,000.00 59,240,000.00 58,215,000.00 59,246,000.00 64,826,000.00
      Capital Stock 0 0 0 4,186,000.00 0
      Share Premium 0 0 0 16,837,000.00 0
      Retained Earnings 0 0 0 22,531,000.00 0
      Treasury Shares 0 0 0 9,030,000.00 0
      Accumulated Other Comprehensive Income 0 0 0 0 0
   Minority Interest 19,401,000.00 20,540,000.00 19,737,000.00 19,072,000.00 15,120,000.00
Debt 74,817,000.00 74,982,000.00 71,130,000.00 71,547,000.00 68,488,000.00
Net Debt 25,279,000.00 25,279,000.00 24,872,000.00 25,187,000.00 22,875,000.00
Common Shares Outstanding 15,436,984.38 15,570,223.51 15,781,257.44 15,850,481.41 15,911,892.59
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Revenues 48,420,000.00 46,627,000.00 46,905,000.00 45,752,000.00 47,254,000.00
Cost Of Revenue 39,554,000.00 38,083,000.00 38,464,000.00 39,964,000.00 39,729,000.00
Interest Income 397,000.00 375,000.00 385,000.00 1,540,000.00 438,000.00
Interest Expense 1,267,000.00 1,229,000.00 1,321,000.00 1,291,000.00 1,101,000.00
Non-Interest Expense 4,271,000.00 4,242,000.00 4,411,000.00 4,098,000.00 3,930,000.00
Gross Profit 8,866,000.00 8,544,000.00 8,441,000.00 5,788,000.00 7,525,000.00
Operating Expenses 4,495,000.00 4,381,000.00 4,514,000.00 4,274,000.00 4,302,000.00
   Selling, General and Administrative Expenses 4,271,000.00 4,242,000.00 4,411,000.00 4,098,000.00 3,930,000.00
   Other Operating Expenses 224,000.00 139,000.00 103,000.00 176,000.00 372,000.00
Operating Income 4,371,000.00 4,163,000.00 3,927,000.00 1,514,000.00 3,223,000.00
EBT 3,236,000.00 2,883,000.00 3,130,000.00 -503,000.00 1,398,000.00
Income Tax 1,727,000.00 954,000.00 2,148,000.00 1,117,000.00 1,028,000.00
Net Income Including Non-Controlling Interests 1,509,000.00 1,929,000.00 982,000.00 -1,620,000.00 370,000.00
Net Income Non-Controlling Interests -348,000.00 -300,000.00 -295,000.00 -339,000.00 -164,000.00
Net Income 1,161,000.00 1,628,000.00 687,000.00 -1,959,000.00 206,000.00
EBIT 4,503,000.00 4,112,000.00 4,451,000.00 788,000.00 2,499,000.00
Deprecation and Amortization 4,472,000.00 4,641,000.00 4,183,000.00 4,381,000.00 4,117,000.00
EBITDA 8,975,000.00 8,753,000.00 8,634,000.00 5,169,000.00 6,616,000.00
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 2,586,490.00 2,607,593.50 2,629,716.00 2,647,530.67 2,720,224.83
Average Shares Outstanding Diluted 2,622,504.83 2,642,431.33 2,682,935.00 2,647,530.67 2,784,851.33
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Operating Cash Flow 7,786,000.00 6,271,000.00 2,834,000.00 7,427,000.00 6,761,000.00
   Operating Net Income 3,236,000.00 2,883,000.00 3,130,000.00 -503,000.00 1,398,000.00
   Deprecation and Amortization 0 0 0 0 0
   Deferred Income Tax 0 0 0 0 0
   Share Based Compensation 264,000.00 215,000.00 401,000.00 228,000.00 278,000.00
   Change in Working Capital 494,000.00 -2,030,000.00 -5,069,000.00 2,752,000.00 1,798,000.00
   Other Operating Activities 3,792,000.00 5,203,000.00 4,372,000.00 4,950,000.00 3,287,000.00
Investing Cash Flow -3,305,000.00 -2,932,000.00 -3,264,000.00 -1,755,000.00 -4,233,000.00
   Capital Expenditure -3,171,000.00 -3,236,000.00 -3,351,000.00 -3,893,000.00 -4,223,000.00
   Net Purchase/Sale of PPE 30,000.00 322,000.00 292,000.00 211,000.00 16,000.00
   Net Purchase/Sale of Investments Net 0 0 0 0 0
   Net Purchase/Sale of Business -212,000.00 -49,000.00 -236,000.00 1,905,000.00 -45,000.00
   Other Investing Activities 48,000.00 31,000.00 31,000.00 22,000.00 19,000.00
Financing Cash Flow -4,605,000.00 -2,233,000.00 -5,114,000.00 -579,000.00 -3,003,000.00
   Net Issuance/Repayment of Debt -118,000.00 346,000.00 -1,437,000.00 -415,000.00 1,372,000.00
   Net Issuance/Repurchase of Equity -750,000.00 -1,063,000.00 -1,847,000.00 -1,625,000.00 -2,001,000.00
   Dividends Paid -1,288,000.00 -1,238,000.00 -1,257,000.00 -1,283,000.00 -1,297,000.00
   Other Financing Activities -2,449,000.00 -278,000.00 -573,000.00 2,744,000.00 -1,077,000.00
Net Change in Cash -124,000.00 1,106,000.00 -5,544,000.00 5,093,000.00 -475,000.00
   Cash at Beginning of Period 35,130,000.00 33,831,000.00 39,269,000.00 34,595,000.00 34,891,000.00
   Cash at End of Period 34,955,000.00 35,130,000.00 33,831,000.00 39,269,000.00 34,595,000.00
Free Cash Flow 4,615,000.00 3,035,000.00 -517,000.00 3,534,000.00 2,538,000.00