Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 16.06 14.67 17.63 15.91
Price to Sales 5.04 4.41 5.71 5.92
Book Value Per Common Share 24.62 21.49 17.85 24.40
Price to Book 2.53 2.37 3.46 2.43
Price to Operating Cash Flow 14.51 14.32 15.40 14.13
Price to Free Cash Flow 15.76 17.47 17.43 15.61
Enterprise Value to EBITDA
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings 53.69 54.54 63.50 61.69 52.82
Price to Sales 16.78 18.46 19.67 19.85 17.00
Book Value Per Common Share 28.35 27.23 25.98 24.62 25.41
Price to Book 2.11 2.28 2.40 2.53 2.23
Price to Operating Cash Flow 58.38 74.06 59.68 -61.44 16.75
Price to Free Cash Flow 66.49 81.93 65.64 -55.73 17.26
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY 11.92 -0.98 -6.18
Revenue YoY 4.88 5.10 5.85
EBITDA YoY
Net Profit YoY 10.28 -2.30 -7.98
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY -2.37 16.33 -2.97 -5.70
Revenue YoY 0.60 6.12 -0.61 -0.51
EBITDA YoY
Net Profit YoY -7.18 15.87 -3.34 -1.37

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share
Quick Ratio
Current Ratio
Debt to Equity 8.60 9.69 11.85 9.64
Long-Term Debt to Equity
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share
Quick Ratio
Current Ratio
Debt to Equity 7.51 7.82 8.25 8.60 8.12
Long-Term Debt to Equity

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 1.63 1.49 1.52 1.43
ROE 15.65 15.95 19.50 15.25
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin 31.34 29.81 32.07 36.88
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA 0.43 0.47 0.40 0.42 0.43
ROE 3.70 4.13 3.73 4.05 3.96
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin 31.23 33.85 31.00 31.87 32.15

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 27.83 28.50 26.34 23.33
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 26.39 25.90 29.07 25.67 29.54

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 31,996,627.00 31,701,061.00 31,875,931.00 36,689,088.00
      Cash and Short-Term Investments 0 0 0 0
            Cash and Cash Equivalents 3,372,910.00 2,682,157.00 841,636.00 4,276,756.00
            Short-Term Investments 9,136,853.00 9,684,760.00 12,238,316.00 14,450,027.00
      Net Receivables 0 0 0 0
      Inventory 0 0 0 0
      Other Current Assets 0 0 0 0
      Property, Plant, Equipment Net 475,275.00 469,059.00 418,909.00 388,738.00
      Goodwill 146,539.00 146,539.00 138,921.00 138,921.00
      Intangible Assets 13,632.00 14,179.00 15,234.00 15,570.00
      Long-Term Investments 9,416,715.00 9,902,958.00 12,473,704.00 14,654,704.00
      Non-Current Deferred Assets 0 0 0 0
      Other Non-Current Assets 0 0 0 0
Liabilities 28,664,152.00 28,736,831.00 29,394,354.00 33,240,764.00
      Payables and Expenses 0 0 0 0
            Account Payables 0 0 0 0
            Current Accrued Liabilities 0 0 0 0
      Short-Term Debt 0 0 0 0
      Other Current Liabilities 0 0 0 0
      Long-Term Debt 56.00 1,404.00 9,672.00 12,560.00
      Other Non-Current Liabilities 0 0 0 0
Equity 3,332,475.00 2,964,230.00 2,481,577.00 3,448,324.00
   Shareholders Equity 3,309,881.00 2,944,116.00 2,465,291.00 3,437,298.00
      Capital Stock 676,054.00 655,322.00 629,319.00 610,804.00
      Share Premium 3,395,645.00 3,162,622.00 2,932,959.00 2,689,894.00
      Retained Earnings 45,494.00 53,183.00 31,620.00 92,493.00
      Treasury Shares 48,401.00 35,599.00 41,743.00 32,973.00
      Accumulated Other Comprehensive Income -758,911.00 -891,412.00 -1,086,864.00 77,080.00
   Minority Interest 22,594.00 20,114.00 16,286.00 11,026.00
Debt 56.00 1,404.00 9,672.00 12,560.00
Common Shares Outstanding 134,426.61 136,975.52 138,097.76 140,864.80
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 1,663,622.00 1,586,159.00 1,509,226.00 1,425,876.00
Interest Income 1,469,557.00 1,381,291.00 998,979.00 848,290.00
Interest Expense 429,311.00 383,162.00 56,794.00 12,866.00
Non-Interest Expense 951,229.00 930,982.00 848,777.00 0
   Selling, General and Administrative Expenses 646,697.00 641,737.00 588,457.00 556,198.00
EBT 679,490.00 619,726.00 632,378.00 686,301.00
Income Tax 145,089.00 134,549.00 132,358.00 145,711.00
Net Income Including Non-Controlling Interests 534,401.00 485,177.00 500,020.00 540,590.00
Net Income Non-Controlling Interests -8,070.00 -8,117.00 -11,621.00 -9,825.00
Net Income 521,417.00 472,819.00 483,949.00 525,919.00
Deprecation and Amortization 54,076.00 49,513.00 46,856.00 44,866.00
EPS 0.00 0.00 0.00 0.00
Diluted EPS 0.00 0.00 0.00 0.00
Average Shares Outstanding Basic 134,522.00 137,613.46 139,497.38 142,228.43
Average Shares Outstanding Diluted 134,688.00 137,613.46 139,497.38 142,228.43
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 577,859.00 488,769.00 559,385.00 597,722.00
   Operating Net Income 534,401.00 485,177.00 500,020.00 540,590.00
   Deprecation and Amortization 54,076.00 49,513.00 46,856.00 44,866.00
   Deferred Income Tax -591.00 -7,399.00 21,716.00 25,613.00
   Share Based Compensation 17,031.00 17,052.00 16,995.00 15,415.00
   Change in Working Capital -17,003.00 45,250.00 -38,321.00 11,434.00
   Other Operating Activities -10,055.00 -100,824.00 12,119.00 -40,196.00
Investing Cash Flow 483,787.00 2,183,832.00 242,271.00 -2,082,758.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE -37,242.00 -83,716.00 -62,206.00 -47,857.00
   Net Purchase/Sale of Investments Net 750,704.00 2,831,215.00 650,369.00 -2,407,974.00
   Net Purchase/Sale of Business 0 -6,365.00 0 0
   Other Investing Activities -229,675.00 -557,302.00 -345,892.00 373,073.00
Financing Cash Flow -372,937.00 -883,119.00 -4,200,809.00 3,573,662.00
   Net Issuance/Repayment of Debt -1,348.00 -8,268.00 -2,888.00 11,758.00
   Net Issuance/Repurchase of Equity 0 0 -186,622.00 -129,361.00
   Dividends Paid -145,093.00 -134,734.00 -127,466.00 -122,693.00
   Other Financing Activities 0 0 -3,883,833.00 3,813,958.00
Net Change in Cash 688,709.00 1,789,482.00 -3,399,153.00 2,088,626.00
   Cash at Beginning of Period 2,687,283.00 897,801.00 4,296,954.00 2,208,328.00
   Cash at End of Period 3,375,992.00 2,687,283.00 897,801.00 4,296,954.00
Free Cash Flow 531,726.00 400,695.00 494,194.00 541,006.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Assets 32,288,688.00 32,284,247.00 32,364,964.00 31,996,627.00 31,493,592.00
      Cash and Short-Term Investments 0 0 0 0 0
            Cash and Cash Equivalents 2,954,109.00 3,146,313.00 3,273,853.00 3,372,910.00 3,149,989.00
            Short-Term Investments 2,298,586.00 2,015,779.00 2,964,947.00 9,136,853.00 9,167,681.00
      Net Receivables 0 0 0 0 0
      Inventory 0 0 0 0 0
      Other Current Assets 0 0 0 0 0
      Property, Plant, Equipment Net 483,000.00 477,401.00 476,921.00 475,275.00 469,986.00
      Goodwill 146,539.00 146,539.00 146,539.00 146,539.00 146,539.00
      Intangible Assets 13,329.00 13,333.00 13,441.00 13,632.00 13,722.00
      Long-Term Investments 2,589,566.00 2,290,990.00 3,255,316.00 9,416,715.00 9,438,414.00
      Non-Current Deferred Assets 0 0 0 0 0
      Other Non-Current Assets 0 0 0 0 0
Liabilities 28,495,641.00 28,624,133.00 28,866,562.00 28,664,152.00 28,040,053.00
      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 0 0 0 0 0
      Other Current Liabilities 0 0 0 0 0
      Long-Term Debt 9,270.00 15,049.00 17,743.00 56.00 10,201.00
      Other Non-Current Liabilities 0 0 0 0 0
Equity 3,793,047.00 3,660,114.00 3,498,402.00 3,332,475.00 3,453,539.00
   Shareholders Equity 3,771,665.00 3,640,572.00 3,477,787.00 3,309,881.00 3,432,081.00
      Capital Stock 676,054.00 676,054.00 676,054.00 676,054.00 655,322.00
      Share Premium 3,390,526.00 3,386,218.00 3,381,960.00 3,395,645.00 3,154,300.00
      Retained Earnings 360,723.00 255,938.00 140,220.00 45,494.00 338,512.00
      Treasury Shares 121,972.00 96,589.00 85,871.00 48,401.00 139,149.00
      Accumulated Other Comprehensive Income -533,666.00 -581,049.00 -634,576.00 -758,911.00 -576,904.00
   Minority Interest 21,382.00 19,542.00 20,615.00 22,594.00 21,458.00
Debt 9,270.00 15,049.00 17,743.00 56.00 10,201.00
Common Shares Outstanding 133,021.13 133,680.53 133,857.09 134,426.61 135,071.23
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Revenues 448,853.00 446,197.00 420,460.00 423,060.00 425,248.00
Interest Income 374,105.00 371,636.00 364,365.00 369,405.00 372,068.00
Interest Expense 94,648.00 91,489.00 95,263.00 102,758.00 109,717.00
Non-Interest Expense 244,018.00 244,437.00 238,376.00 235,718.00 237,600.00
   Selling, General and Administrative Expenses 167,205.00 164,311.00 162,665.00 162,683.00 163,330.00
EBT 184,774.00 196,163.00 167,597.00 173,834.00 178,508.00
Income Tax 41,152.00 42,400.00 36,964.00 36,590.00 38,245.00
Net Income Including Non-Controlling Interests 143,622.00 153,763.00 130,633.00 137,244.00 140,263.00
Net Income Non-Controlling Interests -2,104.00 -1,284.00 959.00 -1,136.00 -2,256.00
Net Income 140,180.00 151,018.00 130,333.00 134,840.00 136,718.00
Deprecation and Amortization 14,054.00 13,981.00 13,721.00 13,563.00 13,713.00
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 126,036.19 132,455.00 132,917.00 134,760.40 127,825.71
Average Shares Outstanding Diluted 126,155.24 132,583.00 133,072.00 134,760.40 127,995.24
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Operating Cash Flow 129,020.00 111,192.00 138,604.00 -136,655.00 431,679.00
   Operating Net Income 143,622.00 153,763.00 130,633.00 137,244.00 140,263.00
   Deprecation and Amortization 14,054.00 13,981.00 13,721.00 13,563.00 13,713.00
   Deferred Income Tax 0 0 0 0 0
   Share Based Compensation 4,393.00 4,039.00 4,426.00 4,300.00 4,280.00
   Change in Working Capital -3,763.00 -62,097.00 45,715.00 -26,352.00 8,330.00
   Other Operating Activities -29,286.00 1,506.00 -55,891.00 -265,410.00 265,093.00
Investing Cash Flow -149,547.00 122,693.00 -373,425.00 -484,893.00 -236,967.00
   Capital Expenditure 0 0 0 0 0
   Net Purchase/Sale of PPE -15,744.00 -10,681.00 -12,486.00 -13,986.00 -7,033.00
   Net Purchase/Sale of Investments Net -1,384.00 429,279.00 34,634.00 -180,104.00 -292,370.00
   Net Purchase/Sale of Business 0 0 0 0 0
   Other Investing Activities 0 0 0 -290,803.00 62,436.00
Financing Cash Flow -171,587.00 -361,455.00 132,734.00 847,430.00 410,608.00
   Net Issuance/Repayment of Debt -5,779.00 -2,694.00 17,687.00 -10,145.00 6,217.00
   Net Issuance/Repurchase of Equity -25,223.00 -11,863.00 -55,184.00 -46,912.00 -43,669.00
   Dividends Paid -36,997.00 -39,118.00 -37,886.00 -34,609.00 -40,384.00
   Other Financing Activities -103,588.00 -307,780.00 208,117.00 939,096.00 488,444.00
Net Change in Cash -192,114.00 -127,570.00 -102,087.00 225,882.00 605,320.00
   Cash at Beginning of Period 3,146,335.00 3,273,905.00 3,375,992.00 3,150,110.00 2,544,790.00
   Cash at End of Period 2,954,221.00 3,146,335.00 3,273,905.00 3,375,992.00 3,150,110.00
Free Cash Flow 113,276.00 100,511.00 126,018.00 -150,674.00 419,069.00