Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 24.41 21.25 19.81 19.01
Price to Sales 8.05 7.40 6.78 7.16
Book Value Per Common Share 25.74 24.99 24.26 25.24
Price to Book 7.25 6.12 5.20 4.62
Price to Operating Cash Flow 19.62 17.21 14.38 12.89
Price to Free Cash Flow 20.09 17.52 14.67 13.06
Enterprise Value to EBITDA
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings 61.95 117.06 128.77 79.11 103.11
Price to Sales 32.80 35.62 38.56 28.97 33.55
Book Value Per Common Share 28.69 26.16 25.36 25.74 25.72
Price to Book 7.21 8.46 8.99 7.25 7.50
Price to Operating Cash Flow 95.91 90.41 58.40 84.04 85.60
Price to Free Cash Flow 98.42 92.56 59.45 86.35 87.28
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY 6.40 12.87 3.92
Revenue YoY 6.22 3.64 7.53
EBITDA YoY 3.14 6.11 -1.89
Net Profit YoY 0.64 5.45 -2.29
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY 76.72 6.78 -25.00 26.20
Revenue YoY 1.85 4.30 -9.36 10.80
EBITDA YoY -1.92 4.09 -41.78 59.30
Net Profit YoY 76.87 6.23 -25.86 24.46

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 12.40 13.09 13.08 12.73
Quick Ratio 1.08 1.14 1.24 1.34
Current Ratio 1.13 1.18 1.27 1.37
Debt to Equity 1.06 1.02 0.95 0.81
Long-Term Debt to Equity 0.37 0.34 0.33 0.29
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 13.68 14.23 13.55 12.56 13.30
Quick Ratio 1.11 1.13 1.04 1.08 1.08
Current Ratio 1.19 1.19 1.10 1.13 1.14
Debt to Equity 0.85 1.01 1.02 1.06 0.95
Long-Term Debt to Equity 0.29 0.39 0.37 0.37 0.34

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 14.70 14.75 13.92 13.82
ROE 30.32 29.79 27.20 25.04
Gross Margin 87.55 88.30 86.94 88.09
Operating Margin 37.97 40.50 39.92 44.04
EBITDA Margin 41.23 42.46 41.47 45.45
Net Profit Margin 32.97 34.80 34.20 37.64
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA 6.29 3.57 3.43 4.47 3.75
ROE 11.65 7.15 6.95 9.23 7.31
Gross Margin 86.94 86.29 86.81 87.17 87.42
Operating Margin 29.39 30.61 30.65 50.05 34.40
EBITDA Margin 33.14 34.41 34.48 53.67 37.33
Net Profit Margin 52.94 30.49 29.93 36.59 32.58

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 5,754,500.00 5,695,500.00 5,724,800.00 5,900,200.00
   Current Assets 2,193,400.00 2,257,700.00 2,331,800.00 2,337,900.00
      Cash and Short-Term Investments 1,371,900.00 1,530,000.00 1,637,600.00 1,693,700.00
            Cash and Cash Equivalents 506,200.00 537,700.00 196,000.00 271,900.00
            Short-Term Investments 865,700.00 992,300.00 1,441,600.00 1,421,800.00
      Net Receivables 728,800.00 657,700.00 644,200.00 597,800.00
      Inventory 0 0 0 0
      Other Current Assets 92,700.00 70,000.00 50,000.00 46,400.00
   Non-Current Assets 3,561,100.00 3,437,800.00 3,393,000.00 3,562,300.00
      Property, Plant, Equipment Net 80,800.00 80,400.00 82,800.00 83,400.00
      Goodwill 1,695,700.00 1,554,400.00 1,236,700.00 1,196,200.00
      Intangible Assets 201,400.00 194,100.00 58,800.00 61,000.00
      Long-Term Investments 1,411,900.00 1,429,700.00 1,865,600.00 2,089,700.00
      Non-Current Deferred Assets 74,700.00 81,800.00 77,600.00 51,700.00
      Other Non-Current Assets 96,600.00 97,400.00 71,500.00 80,300.00
Liabilities 2,965,100.00 2,874,500.00 2,795,500.00 2,643,100.00
   Current Liabilities 1,944,200.00 1,916,100.00 1,839,200.00 1,712,100.00
      Payables and Expenses 472,900.00 502,300.00 475,800.00 454,700.00
            Account Payables 54,800.00 48,300.00 29,600.00 9,800.00
            Current Accrued Liabilities 387,200.00 408,600.00 403,200.00 407,000.00
      Short-Term Debt 0 0 0 0
      Other Current Liabilities 1,471,300.00 1,413,800.00 1,363,400.00 1,257,400.00
   Non-Current Liabilities 1,020,900.00 958,400.00 956,300.00 931,000.00
      Long-Term Debt 0 0 0 0
      Other Non-Current Liabilities 1,020,900.00 958,400.00 956,300.00 931,000.00
Equity 2,789,400.00 2,821,000.00 2,929,300.00 3,257,100.00
   Shareholders Equity 2,789,400.00 2,821,000.00 2,929,300.00 3,257,100.00
      Capital Stock 800.00 800.00 800.00 800.00
      Share Premium 3,049,500.00 2,732,500.00 2,500,700.00 2,276,700.00
      Retained Earnings 14,013,800.00 13,168,100.00 12,327,800.00 11,530,900.00
      Treasury Shares 14,264,400.00 13,041,200.00 11,802,100.00 10,550,700.00
      Accumulated Other Comprehensive Income -10,300.00 -39,200.00 -97,900.00 -600.00
   Minority Interest 0 0 0 0
Debt 0 0 0 0
Common Shares Outstanding 108,368.52 112,906.43 120,761.97 129,065.69
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 2,565,000.00 2,414,700.00 2,329,900.00 2,166,800.00
Cost Of Revenue 319,300.00 282,600.00 304,400.00 258,100.00
Interest Income 93,600.00 92,400.00 67,600.00 66,100.00
Interest Expense 1,800.00 2,300.00 1,800.00 4,600.00
Non-Interest Expense 974,800.00 864,100.00 791,300.00 708,500.00
Gross Profit 2,245,700.00 2,132,100.00 2,025,500.00 1,908,700.00
Operating Expenses 1,369,700.00 1,233,000.00 1,141,200.00 1,001,200.00
   Selling, General and Administrative Expenses 974,800.00 864,100.00 791,300.00 708,500.00
   Research and Development Expenses 394,900.00 368,900.00 349,900.00 292,700.00
Operating Income 876,000.00 899,100.00 884,300.00 907,500.00
EBT 972,100.00 975,600.00 928,300.00 949,600.00
Income Tax 126,400.00 135,300.00 131,400.00 134,000.00
Net Income Including Non-Controlling Interests 845,700.00 840,300.00 796,900.00 815,600.00
Net Income 845,700.00 840,300.00 796,900.00 815,600.00
EBIT 973,900.00 977,900.00 930,100.00 954,200.00
Deprecation and Amortization 83,600.00 47,400.00 36,200.00 30,700.00
EBITDA 1,057,500.00 1,025,300.00 966,300.00 984,900.00
EPS 0.01 0.01 0.01 0.01
Diluted EPS 0.01 0.01 0.01 0.01
Average Shares Outstanding Basic 110,617.62 116,900.00 125,200.00 133,100.00
Average Shares Outstanding Diluted 113,406.90 118,300.00 126,300.00 134,100.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 1,052,400.00 1,037,900.00 1,098,500.00 1,203,900.00
   Operating Net Income 845,700.00 840,300.00 796,900.00 815,600.00
   Deprecation and Amortization 83,600.00 47,400.00 36,200.00 30,700.00
   Deferred Income Tax -12,100.00 -9,500.00 -500.00 -4,000.00
   Share Based Compensation 149,700.00 145,300.00 131,400.00 120,300.00
   Change in Working Capital -8,400.00 4,500.00 115,800.00 216,200.00
   Other Operating Activities -6,100.00 9,900.00 18,700.00 25,100.00
Investing Cash Flow -24,000.00 468,700.00 -6,400.00 -75,300.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE -24,200.00 -18,600.00 -22,100.00 -15,900.00
   Net Purchase/Sale of Investments Net 186,000.00 946,100.00 64,000.00 160,300.00
   Net Purchase/Sale of Business -185,800.00 -458,800.00 -48,300.00 -219,700.00
   Other Investing Activities 0.00 0.00 0.00 0.00
Financing Cash Flow -1,059,900.00 -1,164,900.00 -1,168,000.00 -1,112,400.00
   Net Issuance/Repayment of Debt 0 0 0 0
   Net Issuance/Repurchase of Equity -1,299,900.00 -1,287,600.00 -1,299,900.00 -1,299,500.00
   Dividends Paid 0 0 0 0
   Other Financing Activities 240,000.00 122,700.00 131,900.00 187,100.00
Net Change in Cash -31,500.00 341,700.00 -75,900.00 16,200.00
   Cash at Beginning of Period 537,700.00 196,000.00 271,900.00 255,700.00
   Cash at End of Period 506,200.00 537,700.00 196,000.00 271,900.00
Free Cash Flow 1,028,200.00 1,019,300.00 1,076,400.00 1,188,000.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Assets 5,699,600.00 5,686,700.00 5,557,900.00 5,754,500.00 5,512,600.00
   Current Assets 2,031,100.00 2,097,000.00 1,956,400.00 2,193,400.00 1,952,200.00
      Cash and Short-Term Investments 1,469,000.00 1,524,400.00 1,462,200.00 1,371,900.00 1,469,400.00
            Cash and Cash Equivalents 619,900.00 611,700.00 450,200.00 506,200.00 543,800.00
            Short-Term Investments 849,100.00 912,700.00 1,012,000.00 865,700.00 925,600.00
      Net Receivables 436,900.00 467,700.00 399,700.00 728,800.00 391,900.00
      Inventory 0 0 0 0 0
      Other Current Assets 125,200.00 104,900.00 94,500.00 92,700.00 90,900.00
   Non-Current Assets 3,668,500.00 3,589,700.00 3,601,500.00 3,561,100.00 3,560,400.00
      Property, Plant, Equipment Net 83,100.00 83,600.00 83,000.00 80,800.00 80,600.00
      Goodwill 1,754,100.00 0 0 1,695,700.00 0
      Intangible Assets 175,700.00 0 0 201,400.00 0
      Long-Term Investments 1,348,200.00 1,389,000.00 1,469,800.00 1,411,900.00 1,403,400.00
      Non-Current Deferred Assets 62,400.00 76,200.00 80,600.00 74,700.00 76,500.00
      Other Non-Current Assets 245,000.00 0 0 96,600.00 0
Liabilities 2,619,800.00 2,851,900.00 2,809,400.00 2,965,100.00 2,684,000.00
   Current Liabilities 1,712,600.00 1,760,100.00 1,784,600.00 1,944,200.00 1,716,200.00
      Payables and Expenses 395,300.00 407,400.00 394,800.00 472,900.00 446,000.00
            Account Payables 44,500.00 0 0 54,800.00 0
            Current Accrued Liabilities 350,800.00 0 0 387,200.00 0
      Short-Term Debt 0 0 0 0 0
      Other Current Liabilities 1,317,300.00 1,352,700.00 1,389,800.00 1,471,300.00 1,270,200.00
   Non-Current Liabilities 907,200.00 1,091,800.00 1,024,800.00 1,020,900.00 967,800.00
      Long-Term Debt 0 0 0 0 0
      Other Non-Current Liabilities 907,200.00 1,091,800.00 1,024,800.00 1,020,900.00 967,800.00
Equity 3,079,800.00 2,834,800.00 2,748,500.00 2,789,400.00 2,828,600.00
   Shareholders Equity 3,079,800.00 2,834,800.00 2,748,500.00 2,789,400.00 2,828,600.00
      Capital Stock 800.00 800.00 800.00 800.00 800.00
      Share Premium 3,424,100.00 3,255,400.00 3,125,500.00 3,049,500.00 3,019,400.00
      Retained Earnings 14,766,200.00 14,407,500.00 14,204,700.00 14,013,800.00 13,756,300.00
      Treasury Shares 15,144,000.00 14,860,900.00 14,579,600.00 14,264,400.00 13,946,700.00
      Accumulated Other Comprehensive Income 32,700.00 32,000.00 -2,900.00 -10,300.00 -1,200.00
   Minority Interest 0 0 0 0 0
Debt 0 0 0 0 0
Common Shares Outstanding 107,354.72 108,368.52 108,368.52 108,368.52 109,982.51
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Revenues 677,500.00 665,200.00 637,800.00 703,700.00 635,100.00
Cost Of Revenue 88,500.00 91,200.00 84,100.00 90,300.00 79,900.00
Interest Income 28,700.00 28,500.00 27,300.00 22,000.00 25,300.00
Non-Interest Expense 272,400.00 257,600.00 256,100.00 258,000.00 239,200.00
Gross Profit 589,000.00 574,000.00 553,700.00 613,400.00 555,200.00
Operating Expenses 389,900.00 370,400.00 358,200.00 359,100.00 336,700.00
   Selling, General and Administrative Expenses 272,400.00 257,600.00 256,100.00 258,000.00 239,200.00
   Research and Development Expenses 117,500.00 112,800.00 102,100.00 101,100.00 97,500.00
Operating Income 199,100.00 203,600.00 195,500.00 254,300.00 218,500.00
EBT 227,800.00 232,100.00 222,800.00 278,800.00 243,800.00
Income Tax -130,900.00 29,300.00 31,900.00 21,300.00 36,900.00
Net Income Including Non-Controlling Interests 358,700.00 202,800.00 190,900.00 257,500.00 206,900.00
Net Income 358,700.00 202,800.00 190,900.00 257,500.00 206,900.00
EBIT 199,100.00 203,600.00 195,500.00 352,200.00 218,500.00
Deprecation and Amortization 25,400.00 25,300.00 24,400.00 25,500.00 18,600.00
EBITDA 224,500.00 228,900.00 219,900.00 377,700.00 237,100.00
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 107,400.00 107,100.00 107,900.00 109,200.00 110,500.00
Average Shares Outstanding Diluted 109,500.00 110,400.00 111,400.00 112,100.00 113,400.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Operating Cash Flow 231,700.00 262,100.00 421,100.00 242,600.00 248,900.00
   Operating Net Income 358,700.00 202,800.00 190,900.00 257,500.00 206,900.00
   Deprecation and Amortization 25,400.00 25,300.00 24,400.00 25,500.00 18,600.00
   Deferred Income Tax 15,300.00 -3,600.00 -22,800.00 -10,800.00 8,200.00
   Share Based Compensation 62,100.00 45,900.00 41,200.00 29,800.00 39,000.00
   Change in Working Capital -221,700.00 -8,300.00 187,300.00 -53,300.00 -23,800.00
   Other Operating Activities -8,100.00 0.00 100.00 -6,100.00 0.00
Investing Cash Flow -47,900.00 -89,800.00 -7,400.00 179,500.00 -190,600.00
   Capital Expenditure 0 0 0 0 0
   Net Purchase/Sale of PPE -5,900.00 -6,100.00 -7,400.00 -6,500.00 -4,800.00
   Net Purchase/Sale of Investments Net 0 0 0 0 0
   Net Purchase/Sale of Business 0 -83,700.00 0 0 -185,800.00
   Other Investing Activities -42,000.00 0.00 0 186,000.00 0.00
Financing Cash Flow -176,500.00 -199,100.00 -280,500.00 -317,400.00 -283,500.00
   Net Issuance/Repayment of Debt 0 0 0 0 0
   Net Issuance/Repurchase of Equity -325,000.00 -325,000.00 -325,000.00 -324,900.00 -325,000.00
   Dividends Paid 0 0 0 0 0
   Other Financing Activities 148,500.00 125,900.00 44,500.00 7,500.00 41,500.00
Net Change in Cash -15,900.00 -18,600.00 148,200.00 55,400.00 -185,100.00
   Cash at Beginning of Period 2,913,400.00 2,932,000.00 2,783,800.00 2,872,800.00 3,057,900.00
   Cash at End of Period 619,900.00 2,913,400.00 2,932,000.00 506,200.00 2,872,800.00
Free Cash Flow 225,800.00 256,000.00 413,700.00 236,100.00 244,100.00