Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings 12.04 10.29 17.43 9.96 19.68
Price to Sales 2.00 1.87 2.15 2.08 1.93
Book Value Per Common Share 457.74 423.70 341.12 420.78 401.99
Price to Book 0.60 0.53 0.65 0.46 0.38
Price to Operating Cash Flow 6.23 5.84 4.85 5.55 7.10
Price to Free Cash Flow
Enterprise Value to EBITDA 85792.16 86107.44 117079.22 79652.95 139656.84
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Price to Earnings 15.87 26.98 90.96 17.43 23.64 49.08 14.98 21.59 42.49 19.15 26.11 46.10 12.03 15.58 30.97
Price to Sales 2.54 4.11 9.06 2.81 3.87 8.15 2.33 3.48 7.28 2.41 4.25 9.42 2.52 3.62 7.14
Book Value Per Common Share 182.22 174.07 164.01 457.74 313.23 281.56 279.99 423.70 228.51 233.58 234.96 341.12 200.23 227.16 259.61 420.78 277.61 277.96 229.12 401.99
Price to Book 1.55 1.66 1.84 0.60 0.92 0.91 0.93 0.53 0.91 0.82 0.83 0.65 0.91 0.87 0.82 0.46 0.62 0.57 0.69 0.38
Price to Operating Cash Flow 12.87 22.66 77.27 10.05 14.16 32.65 9.08 16.70 35.74 8.92 16.14 37.33 9.00 13.62 33.81
Price to Free Cash Flow
Enterprise Value to EBITDA 107481.02 189839.27 599103.32 123794.83 170930.57 364193.10 110232.28 159539.75 318499.61 130778.25 188032.59 346823.92 93096.66 122116.12 255990.34

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Earning YoY 4.42 73.54 -34.78 148.21
Revenue YoY 12.10 15.22 5.38 13.81
EBITDA YoY 21.32 36.16 -24.54 108.39
Net Profit YoY 2.70 69.92 -37.78 107.81
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Earning YoY 65.55 223.49 53.38 104.36 55.83 95.19 26.16 62.28 41.37 100.00
Revenue YoY 57.28 111.11 55.55 107.30 60.52 107.02 61.86 102.81 55.23 96.92
EBITDA YoY 70.20 201.19 55.70 108.72 55.44 96.32 31.93 67.43 40.61 105.77
Net Profit YoY 65.15 222.99 53.14 104.06 55.44 94.77 25.46 61.55 40.15 98.48

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Cash Per Common Share 103.69 68.28 46.26 58.12 63.38
Quick Ratio
Current Ratio
Debt to Equity 1.35 2.73 3.56 3.19 -2.50
Long-Term Debt to Equity
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Cash Per Common Share 123.17 119.52 115.18 104.59 75.90 71.09 75.52 69.22 75.09 42.83 39.09 46.84 43.35 59.86 53.41 59.95 58.34 64.93 57.99 63.51
Quick Ratio
Current Ratio
Debt to Equity 2.47 2.51 2.56 1.35 2.57 2.69 12.02 2.73 9.97 27.71 25.77 3.56 -61.31 -43.18 67.49 3.19 33.66 31.82 -20.30 -2.50
Long-Term Debt to Equity

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA 2.97 3.02 2.12 3.28 2.15
ROE 7.00 11.27 9.67 13.75 -3.23
Gross Margin -35.58 -46.56 -50.11 -45.10 -124.61
Operating Margin 21.91 20.47 17.88 25.16 13.00
EBITDA Margin 23.15 21.39 18.10 25.27 13.80
Net Profit Margin 16.63 18.15 12.31 20.85 11.42
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
ROA 2.63 1.64 0.53 2.67 1.83 0.88 2.43 1.79 0.94 2.02 1.63 1.00 3.21 2.32 1.17
ROE 9.12 5.77 1.88 9.55 6.77 11.48 26.69 51.50 25.15 -121.80 -68.74 68.28 111.41 75.99 -22.63
Gross Margin -35.56 -40.03 -48.94 -44.90 -43.69 -42.98 -46.46 -44.98 -44.27 -49.43 -42.53 -37.95 -46.54 -40.30 -38.10
Operating Margin 22.17 20.36 13.82 21.35 21.30 21.79 20.14 20.87 22.06 18.10 22.28 26.82 26.26 29.07 27.79
EBITDA Margin 23.36 21.58 15.13 22.58 22.56 22.41 20.97 21.66 22.84 18.19 22.31 27.02 26.34 29.08 27.83
Net Profit Margin 16.01 15.25 9.97 16.11 16.36 16.62 15.59 16.10 17.11 12.61 16.26 20.42 20.99 23.25 23.07

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Dividend Yield
Dividend Payout Ratio
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Dividend Yield
Dividend Payout Ratio

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Assets 311,714,000.00 299,113,000.00 250,552,000.00 260,139,000.00 190,774,000.00
   Deposits 0 0 70,000.00 74,000.00 86,000.00
      Cash and Short-Term Investments 41,910,000.00 28,051,000.00 19,418,000.00 25,571,000.00 28,624,000.00
            Cash and Cash Equivalents 2,663,000.00 2,738,000.00 2,057,000.00 1,787,000.00 3,508,000.00
            Short-Term Investments 39,247,000.00 25,313,000.00 17,361,000.00 23,784,000.00 25,116,000.00
      Net Receivables 15,586,000.00 14,465,000.00 12,874,000.00 12,143,000.00 21,871,000.00
      Inventory 0 0 0 0 0
      Other Current Assets 0 0 0 0 0
      Property, Plant, Equipment Net 3,924,000.00 3,684,000.00 3,007,000.00 2,445,000.00 2,473,000.00
      Goodwill 19,579,000.00 19,686,000.00 16,287,000.00 15,213,000.00 15,400,000.00
      Intangible Assets 6,377,000.00 6,775,000.00 5,441,000.00 5,455,000.00 5,811,000.00
      Long-Term Investments 68,528,000.00 46,254,000.00 57,265,000.00 46,595,000.00 33,553,000.00
      Non-Current Deferred Assets 1,603,000.00 1,741,000.00 0 0 0
      Other Non-Current Assets 0 0 0 0 0
Liabilities 179,299,000.00 218,984,000.00 195,616,000.00 198,059,000.00 318,057,000.00
      Payables and Expenses 0 0 0 0 0
            Account Payables 0 0 0 0 0
            Current Accrued Liabilities 0 0 0 0 0
      Short-Term Debt 2,400,000.00 4,380,000.00 2,844,000.00 4,403,000.00 1,405,000.00
      Other Current Liabilities 0 0 0 0 0
      Long-Term Debt 0 0 0 0 0
      Other Non-Current Liabilities 0 0 0 0 0
Equity 132,415,000.00 80,129,000.00 54,936,000.00 62,080,000.00 -127,283,000.00
   Shareholders Equity 183,419,000.00 171,712,000.00 141,427,000.00 179,492,000.00 181,192,000.00
      Capital Stock 235,000.00 241,000.00 10,346,000.00 10,985,000.00 11,064,000.00
      Share Premium 14,393,000.00 15,665,000.00 7,166,000.00 8,478,000.00 9,815,000.00
      Retained Earnings 61,561,000.00 54,810,000.00 48,334,000.00 47,365,000.00 39,337,000.00
      Treasury Shares 3,524,000.00 4,400,000.00 5,113,000.00 7,464,000.00 3,644,000.00
      Accumulated Other Comprehensive Income -8,644,000.00 -6,809,000.00 -10,193,000.00 350,000.00 2,869,000.00
   Minority Interest 12,205,000.00 11,073,000.00 0 0 0
Investments 929,803,000.00 847,728,000.00 699,497,000.00 751,350,000.00 898,598,000.00
Debt 45,537,000.00 43,485,000.00 46,050,000.00 65,079,000.00 76,145,000.00
Net Debt 3,627,000.00 15,434,000.00 26,632,000.00 39,508,000.00 47,521,000.00
Common Shares Outstanding 400,703.66 405,269.64 414,594.86 426,572.61 450,732.62
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Revenues 55,753,000.00 49,735,000.00 43,166,000.00 40,963,000.00 35,994,000.00
   Net Premiums 196,679,000.00 226,181,000.00 200,631,000.00 143,082,000.00 163,763,000.00
Cost Of Revenue 75,588,000.00 72,892,000.00 64,798,000.00 59,436,000.00 80,845,000.00
Gross Profit -19,835,000.00 -23,157,000.00 -21,632,000.00 -18,473,000.00 -44,851,000.00
   Selling, General and Administrative Expenses 8,402,000.00 8,086,000.00 6,855,000.00 6,328,000.00 6,013,000.00
Interest Income 19,000.00 -19,000.00 0 0 0.00
Interest Expense 760,000.00 653,000.00 1,148,000.00 492,000.00 516,000.00
Net Interest -741,000.00 -672,000.00 0 0 -516,000.00
EBT 11,455,000.00 9,526,000.00 6,568,000.00 9,816,000.00 4,162,000.00
Income Tax 1,943,000.00 1,018,000.00 2,676,000.00 2,569,000.00 1,887,000.00
Equity Method Investments Income 0 0 0 0 1,019,000.00
Net Income Including Non-Controlling Interests 8,904,000.00 9,067,000.00 0 0 0
Net Income Non-Controlling Interests 368,000.00 -39,000.00 0 0 0
Net Income 9,272,000.00 9,028,000.00 5,313,000.00 8,539,000.00 4,109,000.00
EBIT 12,215,000.00 10,179,000.00 7,716,000.00 10,308,000.00 4,678,000.00
Deprecation and Amortization 690,000.00 458,000.00 96,000.00 45,000.00 290,000.00
EBITDA 12,905,000.00 10,637,000.00 7,812,000.00 10,353,000.00 4,968,000.00
EPS 0.02 0.02 0.01 0.02 0.01
Diluted EPS 0.02 0.02 0.01 0.02 0.01
Average Shares Outstanding Basic 404,189.75 410,845.26 419,779.85 439,968.42 451,602.82
Average Shares Outstanding Diluted 408,486.43 414,202.57 423,527.44 443,197.28 453,441.51
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow 17,937,000.00 15,905,000.00 19,074,000.00 15,316,000.00 9,785,000.00
   Operating Net Income 9,640,000.00 6,400,000.00 10,296,000.00 25,936,000.00 8,718,000.00
   Deprecation and Amortization 690,000.00 458,000.00 96,000.00 -45,000.00 290,000.00
   Deferred Income Tax 86,000.00 -1,084,000.00 174,000.00 -82,000.00 -299,000.00
   Share Based Compensation 0 0 0 0 0
   Change in Working Capital -1,059,000.00 -1,302,000.00 -535,000.00 877,000.00 541,000.00
   Other Operating Activities 8,580,000.00 11,433,000.00 9,043,000.00 -11,370,000.00 535,000.00
Investing Cash Flow -11,923,000.00 -7,648,000.00 -9,700,000.00 -6,659,000.00 -15,042,000.00
   Capital Expenditure 0.00 0.00 0.00 0.00 0.00
   Net Purchase/Sale of PPE 0 0 0 0 0
   Net Purchase/Sale of Investments Net 66,125,000.00 54,575,000.00 62,514,000.00 59,259,000.00 65,905,000.00
   Net Purchase/Sale of Business 538,000.00 34,000.00 4,982,000.00 0 0
   Other Investing Activities -78,586,000.00 -62,257,000.00 -77,196,000.00 -65,918,000.00 -80,947,000.00
Financing Cash Flow -5,636,000.00 -7,721,000.00 -8,872,000.00 -8,660,000.00 -4,164,000.00
   Net Issuance/Repayment of Debt 14,905,000.00 11,290,000.00 11,033,000.00 6,258,000.00 10,998,000.00
   Net Issuance/Repurchase of Equity 1,801,000.00 2,411,000.00 2,894,000.00 4,861,000.00 523,000.00
   Dividends Paid 1,436,000.00 1,394,000.00 1,375,000.00 1,401,000.00 1,388,000.00
   Other Financing Activities -23,778,000.00 -22,816,000.00 -24,174,000.00 -21,180,000.00 -17,073,000.00
Net Change in Cash 234,000.00 531,000.00 355,000.00 -25,000.00 190,000.00
   Cash at Beginning of Period 2,315,000.00 2,090,000.00 1,772,000.00 1,836,000.00 1,646,000.00
   Cash at End of Period 2,549,000.00 2,621,000.00 2,127,000.00 1,811,000.00 1,836,000.00
Free Cash Flow 0 0 0 0 0
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Assets 270,210,000.00 261,563,000.00 251,752,000.00 311,714,000.00 250,557,000.00 238,551,000.00 243,041,000.00 299,113,000.00 235,523,000.00 205,448,000.00 201,415,000.00 250,552,000.00 198,111,000.00 195,651,000.00 197,990,000.00 260,139,000.00 199,054,000.00 197,174,000.00 196,140,000.00 190,774,000.00
   Deposits 0 0 0 0 0 0 0 0 0 0 0 70,000.00 0 0 0 74,000.00 0 0 0 86,000.00
      Cash and Short-Term Investments 49,179,000.00 47,840,000.00 46,150,000.00 41,910,000.00 30,715,000.00 28,801,000.00 30,634,000.00 28,051,000.00 30,941,000.00 17,705,000.00 16,193,000.00 19,418,000.00 18,262,000.00 25,362,000.00 22,743,000.00 25,571,000.00 25,878,000.00 29,074,000.00 26,128,000.00 28,624,000.00
            Cash and Cash Equivalents 2,659,000.00 2,560,000.00 2,455,000.00 2,663,000.00 2,820,000.00 2,681,000.00 2,778,000.00 2,738,000.00 2,942,000.00 2,285,000.00 2,288,000.00 2,057,000.00 2,128,000.00 7,122,000.00 1,734,000.00 1,787,000.00 1,620,000.00 1,843,000.00 1,708,000.00 3,508,000.00
            Short-Term Investments 46,520,000.00 45,280,000.00 43,695,000.00 39,247,000.00 27,895,000.00 26,120,000.00 27,856,000.00 25,313,000.00 27,999,000.00 15,420,000.00 13,905,000.00 17,361,000.00 16,134,000.00 18,240,000.00 21,009,000.00 23,784,000.00 24,258,000.00 27,231,000.00 24,420,000.00 25,116,000.00
      Net Receivables 17,732,000.00 18,102,000.00 16,554,000.00 15,586,000.00 16,874,000.00 17,059,000.00 15,081,000.00 14,465,000.00 14,947,000.00 15,111,000.00 13,293,000.00 12,874,000.00 13,753,000.00 13,587,000.00 12,274,000.00 12,143,000.00 12,548,000.00 12,557,000.00 11,430,000.00 21,871,000.00
      Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Current Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Property, Plant, Equipment Net 1,044,000.00 1,044,000.00 1,052,000.00 3,924,000.00 748,000.00 743,000.00 762,000.00 3,684,000.00 549,000.00 543,000.00 571,000.00 3,007,000.00 458,000.00 433,000.00 437,000.00 2,445,000.00 434,000.00 429,000.00 448,000.00 2,473,000.00
      Goodwill 20,237,000.00 20,184,000.00 19,716,000.00 19,579,000.00 19,990,000.00 19,833,000.00 19,696,000.00 19,686,000.00 19,554,000.00 16,322,000.00 16,175,000.00 16,287,000.00 16,107,000.00 15,045,000.00 15,244,000.00 15,213,000.00 15,387,000.00 15,506,000.00 15,412,000.00 15,400,000.00
      Intangible Assets 6,318,000.00 6,391,000.00 6,363,000.00 6,377,000.00 6,594,000.00 6,619,000.00 6,709,000.00 6,775,000.00 6,844,000.00 5,320,000.00 5,364,000.00 5,441,000.00 5,383,000.00 5,272,000.00 5,399,000.00 5,455,000.00 5,578,000.00 5,694,000.00 5,749,000.00 5,811,000.00
      Long-Term Investments 34,431,000.00 30,103,000.00 31,345,000.00 68,528,000.00 27,593,000.00 25,465,000.00 22,320,000.00 46,254,000.00 20,036,000.00 30,397,000.00 29,366,000.00 57,265,000.00 28,177,000.00 24,971,000.00 24,599,000.00 46,595,000.00 22,446,000.00 19,811,000.00 18,149,000.00 33,553,000.00
      Non-Current Deferred Assets 1,413,000.00 1,621,000.00 1,798,000.00 1,603,000.00 1,567,000.00 1,690,000.00 1,761,000.00 1,741,000.00 0 0 0 0 0 564,000.00 333,000.00 0 0 0 0 0
      Other Non-Current Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Liabilities 192,399,000.00 187,116,000.00 180,997,000.00 179,299,000.00 180,437,000.00 173,976,000.00 224,370,000.00 218,984,000.00 214,062,000.00 198,292,000.00 193,891,000.00 195,616,000.00 201,396,000.00 200,290,000.00 195,099,000.00 198,059,000.00 193,311,000.00 191,167,000.00 206,304,000.00 318,057,000.00
      Payables and Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
            Account Payables 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
            Current Accrued Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Short-Term Debt 1,499,000.00 1,499,000.00 0 2,400,000.00 1,571,000.00 1,553,000.00 2,265,000.00 4,380,000.00 700,000.00 699,000.00 0 2,844,000.00 1,475,000.00 1,474,000.00 1,474,000.00 4,403,000.00 0 0 0 1,405,000.00
      Other Current Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Long-Term Debt 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Non-Current Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Equity 77,811,000.00 74,447,000.00 70,755,000.00 132,415,000.00 70,120,000.00 64,575,000.00 18,671,000.00 80,129,000.00 21,461,000.00 7,156,000.00 7,524,000.00 54,936,000.00 -3,285,000.00 -4,639,000.00 2,891,000.00 62,080,000.00 5,743,000.00 6,007,000.00 -10,164,000.00 -127,283,000.00
   Shareholders Equity 71,855,000.00 69,395,000.00 65,726,000.00 183,419,000.00 126,244,000.00 113,772,000.00 113,684,000.00 171,712,000.00 93,228,000.00 95,928,000.00 97,311,000.00 141,427,000.00 83,098,000.00 95,059,000.00 109,992,000.00 179,492,000.00 119,614,000.00 121,946,000.00 103,028,000.00 181,192,000.00
      Capital Stock 231,000.00 231,000.00 231,000.00 235,000.00 235,000.00 235,000.00 241,000.00 241,000.00 241,000.00 241,000.00 10,346,000.00 10,346,000.00 10,346,000.00 10,666,000.00 10,666,000.00 10,985,000.00 10,985,000.00 11,064,000.00 11,064,000.00 11,064,000.00
      Share Premium 13,476,000.00 13,763,000.00 13,976,000.00 14,393,000.00 14,643,000.00 14,926,000.00 15,188,000.00 15,665,000.00 15,887,000.00 16,163,000.00 6,680,000.00 7,166,000.00 7,429,000.00 7,707,000.00 7,988,000.00 8,478,000.00 8,752,000.00 9,046,000.00 9,318,000.00 9,815,000.00
      Retained Earnings 66,722,000.00 63,921,000.00 60,953,000.00 61,561,000.00 58,986,000.00 56,662,000.00 56,953,000.00 54,810,000.00 51,510,000.00 49,467,000.00 50,197,000.00 48,334,000.00 47,022,000.00 48,363,000.00 47,148,000.00 47,365,000.00 45,224,000.00 43,902,000.00 41,637,000.00 39,337,000.00
      Treasury Shares 3,682,000.00 2,462,000.00 1,799,000.00 3,524,000.00 2,837,000.00 2,481,000.00 4,461,000.00 4,400,000.00 3,747,000.00 3,174,000.00 5,341,000.00 5,113,000.00 4,978,000.00 6,794,000.00 5,700,000.00 7,464,000.00 6,621,000.00 5,772,000.00 3,901,000.00 3,644,000.00
      Accumulated Other Comprehensive Income -4,892,000.00 -6,058,000.00 -7,635,000.00 -8,644,000.00 -5,270,000.00 -8,304,000.00 -7,386,000.00 -6,809,000.00 -11,518,000.00 -9,822,000.00 -8,895,000.00 -10,193,000.00 -12,180,000.00 -8,275,000.00 -3,404,000.00 350,000.00 978,000.00 1,822,000.00 958,000.00 2,869,000.00
   Minority Interest 11,044,000.00 9,290,000.00 9,146,000.00 12,205,000.00 12,171,000.00 9,671,000.00 10,735,000.00 11,073,000.00 13,438,000.00 0 0 0 0 0 0 0 0 0 0 0
Investments 977,675,000.00 930,411,000.00 894,079,000.00 929,803,000.00 910,301,000.00 839,361,000.00 840,280,000.00 847,728,000.00 782,002,000.00 743,187,000.00 689,071,000.00 699,497,000.00 658,497,000.00 645,474,000.00 700,729,000.00 751,350,000.00 724,943,000.00 721,390,000.00 708,180,000.00 898,598,000.00
Debt 34,452,000.00 29,952,000.00 14,508,000.00 45,537,000.00 32,262,000.00 29,462,000.00 31,026,000.00 43,485,000.00 28,872,000.00 28,962,000.00 14,375,000.00 46,050,000.00 31,038,000.00 31,570,000.00 32,118,000.00 65,079,000.00 14,823,000.00 14,954,000.00 44,637,000.00 76,145,000.00
Net Debt 0 0 0 3,627,000.00 1,547,000.00 661,000.00 392,000.00 15,434,000.00 0 11,257,000.00 0 26,632,000.00 12,776,000.00 6,208,000.00 9,375,000.00 39,508,000.00 0 0 18,509,000.00 47,521,000.00
Common Shares Outstanding 394,324.44 398,660.79 400,748.48 400,703.66 403,033.42 404,073.49 406,033.07 405,269.64 407,984.34 410,691.35 414,158.68 414,594.86 415,020.48 418,474.09 423,675.33 426,572.61 430,876.25 438,717.21 449,676.96 450,732.62
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31
Revenues 44,337,000.00 28,189,000.00 13,353,000.00 -25,448,000.00 41,578,000.00 26,729,000.00 12,894,000.00 -20,955,000.00 36,743,000.00 22,890,000.00 11,057,000.00 -17,853,000.00 31,740,000.00 19,610,000.00 9,669,000.00 -19,123,000.00 30,480,000.00 19,635,000.00 9,971,000.00
   Net Premiums 39,484,000.00 25,125,000.00 12,000,000.00 123,973,000.00 37,248,000.00 23,875,000.00 11,583,000.00 92,663,000.00 102,235,000.00 21,141,000.00 10,142,000.00 82,544,000.00 91,038,000.00 18,303,000.00 8,746,000.00 90,793,000.00 27,034,000.00 17,034,000.00 8,221,000.00
Cost Of Revenue 60,102,000.00 39,472,000.00 19,888,000.00 -41,504,000.00 60,248,000.00 38,408,000.00 18,436,000.00 -30,058,000.00 53,812,000.00 33,186,000.00 15,952,000.00 -23,920,000.00 47,430,000.00 27,950,000.00 13,338,000.00 -26,546,000.00 44,664,000.00 27,548,000.00 13,770,000.00
Gross Profit -15,765,000.00 -11,283,000.00 -6,535,000.00 16,056,000.00 -18,670,000.00 -11,679,000.00 -5,542,000.00 9,103,000.00 -17,069,000.00 -10,296,000.00 -4,895,000.00 6,067,000.00 -15,690,000.00 -8,340,000.00 -3,669,000.00 7,423,000.00 -14,184,000.00 -7,913,000.00 -3,799,000.00
   Selling, General and Administrative Expenses 6,362,000.00 4,199,000.00 2,055,000.00 1,910,000.00 3,258,000.00 2,164,000.00 1,070,000.00 2,298,000.00 2,959,000.00 1,899,000.00 930,000.00 2,002,000.00 2,479,000.00 1,596,000.00 778,000.00 966,000.00 2,325,000.00 1,519,000.00 1,518,000.00
Interest Income -5,000.00 -3,000.00 0.00 45,000.00 -11,000.00 -10,000.00 -5,000.00 1,000.00 -14,000.00 -9,000.00 3,000.00 0 0 0 0 0 0 0 0
Interest Expense 554,000.00 359,000.00 181,000.00 -304,000.00 541,000.00 350,000.00 173,000.00 -311,000.00 485,000.00 316,000.00 163,000.00 -480,000.00 832,000.00 532,000.00 264,000.00 -861,000.00 732,000.00 488,000.00 133,000.00
Net Interest -559,000.00 -362,000.00 -181,000.00 349,000.00 -552,000.00 -360,000.00 -178,000.00 312,000.00 -499,000.00 -325,000.00 -160,000.00 0 -832,000.00 -532,000.00 -264,000.00 0 -732,000.00 -488,000.00 -133,000.00
EBT 9,274,000.00 5,380,000.00 1,664,000.00 -4,859,000.00 8,336,000.00 5,342,000.00 2,636,000.00 -4,125,000.00 6,914,000.00 4,461,000.00 2,276,000.00 -4,512,000.00 4,914,000.00 3,837,000.00 2,329,000.00 -5,313,000.00 7,271,000.00 5,220,000.00 2,638,000.00
Income Tax 1,858,000.00 1,061,000.00 312,000.00 -3,171,000.00 2,711,000.00 1,699,000.00 704,000.00 -3,758,000.00 2,442,000.00 1,580,000.00 754,000.00 -298,000.00 1,971,000.00 648,000.00 355,000.00 354,000.00 873,000.00 655,000.00 687,000.00
Equity Method Investments Income 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2,073,000.00 1,271,000.00 0
Net Income Including Non-Controlling Interests 6,751,000.00 4,256,000.00 1,319,000.00 -2,536,000.00 5,788,000.00 3,962,000.00 1,690,000.00 3,330,000.00 5,737,000.00 0 0 0 0 0 0 0 0 0 0
Net Income Non-Controlling Interests 349,000.00 43,000.00 12,000.00 -1,405,000.00 909,000.00 411,000.00 453,000.00 -30,000.00 -9,000.00 0 0 0 0 0 0 0 0 0 0
Net Income 7,100,000.00 4,299,000.00 1,331,000.00 -3,941,000.00 6,697,000.00 4,373,000.00 2,143,000.00 -2,277,000.00 5,728,000.00 3,685,000.00 1,892,000.00 -3,851,000.00 4,001,000.00 3,189,000.00 1,974,000.00 -4,724,000.00 6,398,000.00 4,565,000.00 2,300,000.00
EBIT 9,828,000.00 5,739,000.00 1,845,000.00 -5,163,000.00 8,877,000.00 5,692,000.00 2,809,000.00 -4,436,000.00 7,399,000.00 4,777,000.00 2,439,000.00 -4,992,000.00 5,746,000.00 4,369,000.00 2,593,000.00 -6,174,000.00 8,003,000.00 5,708,000.00 2,771,000.00
Deprecation and Amortization 527,000.00 345,000.00 175,000.00 -240,000.00 512,000.00 338,000.00 80,000.00 -114,000.00 306,000.00 180,000.00 86,000.00 44,000.00 26,000.00 6,000.00 20,000.00 13,000.00 26,000.00 2,000.00 4,000.00
EBITDA 10,355,000.00 6,084,000.00 2,020,000.00 -5,403,000.00 9,389,000.00 6,030,000.00 2,889,000.00 -4,550,000.00 7,705,000.00 4,957,000.00 2,525,000.00 -4,948,000.00 5,772,000.00 4,375,000.00 2,613,000.00 -6,161,000.00 8,029,000.00 5,710,000.00 2,775,000.00
EPS 0.02 0.01 0.00 -0.00 0.02 0.01 0.01 -0.00 0.01 0.01 0.00 -0.00 0.01 0.01 0.00 -0.00 0.01 0.01 0.01
Diluted EPS 0.02 0.01 0.00 0.00 0.02 0.01 0.01 0.00 0.01 0.01 0.00 0.00 0.01 0.01 0.00 0.00 0.01 0.01 0.01
Average Shares Outstanding Basic 399,289.36 400,281.95 400,681.96 401,256.96 404,700.12 405,139.23 405,662.69 403,632.13 412,076.47 413,383.30 414,289.15 408,320.92 421,290.03 423,703.33 425,805.10 417,937.02 443,595.03 447,802.08 450,539.57
Average Shares Outstanding Diluted 403,192.17 404,294.88 404,674.35 406,036.55 408,891.77 409,277.78 409,739.64 406,746.13 415,365.41 416,770.54 417,928.19 411,610.02 425,023.48 427,685.44 429,790.83 422,123.04 446,628.02 450,702.52 453,335.54
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31
Operating Cash Flow 8,756,000.00 5,117,000.00 1,566,000.00 -4,199,000.00 11,617,000.00 7,299,000.00 3,220,000.00 -558,000.00 9,446,000.00 4,766,000.00 2,251,000.00 2,882,000.00 8,592,000.00 5,160,000.00 2,440,000.00 -565,000.00 8,549,000.00 5,227,000.00 2,105,000.00
   Operating Net Income 7,545,000.00 4,532,000.00 1,391,000.00 701,000.00 4,538,000.00 2,830,000.00 1,571,000.00 -4,607,000.00 3,067,000.00 5,132,000.00 2,808,000.00 -1,703,000.00 3,628,000.00 4,695,000.00 3,676,000.00 -2,863,000.00 13,654,000.00 9,818,000.00 5,327,000.00
   Deprecation and Amortization 527,000.00 345,000.00 175,000.00 -240,000.00 512,000.00 338,000.00 80,000.00 -114,000.00 306,000.00 180,000.00 86,000.00 96,000.00 26,000.00 -6,000.00 -20,000.00 -13,000.00 -26,000.00 -2,000.00 -4,000.00
   Deferred Income Tax 0 0 0 86,000.00 0 0 0 -1,084,000.00 0 0 0 174,000.00 0 0 0 -82,000.00 0 0 0
   Share Based Compensation 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
   Change in Working Capital 265,000.00 1,663,000.00 81,000.00 421,000.00 -624,000.00 -686,000.00 -170,000.00 742,000.00 -1,233,000.00 -508,000.00 -303,000.00 -1,534,000.00 855,000.00 365,000.00 -221,000.00 -2,514,000.00 2,962,000.00 795,000.00 -366,000.00
   Other Operating Activities 419,000.00 -1,423,000.00 -81,000.00 -5,167,000.00 7,191,000.00 4,817,000.00 1,739,000.00 4,505,000.00 7,306,000.00 -38,000.00 -340,000.00 5,849,000.00 4,083,000.00 106,000.00 -995,000.00 4,907,000.00 -8,041,000.00 -5,384,000.00 -2,852,000.00
Investing Cash Flow -8,928,000.00 -3,625,000.00 -798,000.00 9,338,000.00 -11,449,000.00 -6,066,000.00 -3,746,000.00 618,000.00 -5,434,000.00 -2,262,000.00 -570,000.00 -4,628,000.00 -5,202,000.00 1,125,000.00 -995,000.00 369,000.00 -3,751,000.00 -2,025,000.00 -1,252,000.00
   Capital Expenditure 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
   Net Purchase/Sale of PPE 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
   Net Purchase/Sale of Investments Net 46,678,000.00 27,758,000.00 13,307,000.00 -29,126,000.00 48,298,000.00 30,165,000.00 16,788,000.00 -24,689,000.00 40,981,000.00 24,809,000.00 13,474,000.00 -35,325,000.00 53,072,000.00 31,842,000.00 12,925,000.00 -30,088,000.00 45,651,000.00 29,576,000.00 14,120,000.00
   Net Purchase/Sale of Business 289,000.00 289,000.00 0 -774,000.00 538,000.00 538,000.00 236,000.00 204,000.00 -216,000.00 23,000.00 23,000.00 0.00 4,982,000.00 0 0 0 0 0 0
   Other Investing Activities -55,895,000.00 -31,672,000.00 -14,105,000.00 39,238,000.00 -60,285,000.00 -36,769,000.00 -20,770,000.00 25,103,000.00 -46,199,000.00 -27,094,000.00 -14,067,000.00 30,697,000.00 -63,256,000.00 -30,717,000.00 -13,920,000.00 30,457,000.00 -49,402,000.00 -31,601,000.00 -15,372,000.00
Financing Cash Flow -189,000.00 -1,887,000.00 -1,125,000.00 -4,952,000.00 -62,000.00 -1,184,000.00 562,000.00 -660,000.00 -3,325,000.00 -2,312,000.00 -1,424,000.00 -4,129,000.00 -2,722,000.00 -719,000.00 -1,302,000.00 -21,000.00 -4,805,000.00 -3,022,000.00 -812,000.00
   Net Issuance/Repayment of Debt 12,510,000.00 6,252,000.00 2,475,000.00 -8,567,000.00 12,137,000.00 7,712,000.00 3,623,000.00 -8,959,000.00 8,769,000.00 8,194,000.00 3,286,000.00 -776,000.00 6,825,000.00 4,463,000.00 521,000.00 -18,000.00 3,506,000.00 1,613,000.00 1,157,000.00
   Net Issuance/Repurchase of Equity 2,523,000.00 1,437,000.00 691,000.00 -1,010,000.00 1,351,000.00 1,056,000.00 404,000.00 -1,249,000.00 1,848,000.00 1,267,000.00 545,000.00 -3,017,000.00 2,783,000.00 2,127,000.00 1,001,000.00 -2,039,000.00 3,941,000.00 2,440,000.00 519,000.00
   Dividends Paid 1,121,000.00 731,000.00 366,000.00 -680,000.00 1,069,000.00 698,000.00 349,000.00 -683,000.00 1,044,000.00 688,000.00 345,000.00 -677,000.00 1,030,000.00 681,000.00 341,000.00 -710,000.00 1,056,000.00 703,000.00 352,000.00
   Other Financing Activities -16,343,000.00 -10,307,000.00 -4,657,000.00 5,305,000.00 -14,619,000.00 -10,650,000.00 -3,814,000.00 10,231,000.00 -14,986,000.00 -12,461,000.00 -5,600,000.00 341,000.00 -13,360,000.00 -7,990,000.00 -3,165,000.00 2,746,000.00 -13,308,000.00 -7,778,000.00 -2,840,000.00
Net Change in Cash -95,000.00 -178,000.00 -299,000.00 200,000.00 57,000.00 -53,000.00 30,000.00 -623,000.00 651,000.00 248,000.00 255,000.00 -5,629,000.00 453,000.00 5,428,000.00 103,000.00 -152,000.00 -40,000.00 162,000.00 5,000.00
   Cash at Beginning of Period 2,549,000.00 2,549,000.00 2,549,000.00 2,349,000.00 2,621,000.00 2,621,000.00 2,621,000.00 3,244,000.00 2,127,000.00 2,127,000.00 2,127,000.00 7,756,000.00 1,811,000.00 1,811,000.00 1,811,000.00 1,963,000.00 1,836,000.00 1,836,000.00 1,836,000.00
   Cash at End of Period 2,454,000.00 2,371,000.00 2,250,000.00 2,549,000.00 2,678,000.00 2,568,000.00 2,651,000.00 2,621,000.00 2,778,000.00 2,375,000.00 2,382,000.00 2,127,000.00 2,264,000.00 7,239,000.00 1,914,000.00 1,811,000.00 1,796,000.00 1,998,000.00 1,841,000.00
Free Cash Flow 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0