Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 0.78 0.82
Price to Sales 0.13 0.14
Book Value Per Common Share 49.35 49.02 48.87 48.65
Price to Book 0.76 0.80
Price to Operating Cash Flow 0.37 0.41
Price to Free Cash Flow 0.58 0.70
Enterprise Value to EBITDA 33265.33 34844.28
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings 3.58 3.56 3.11 3.42
Price to Sales 0.59 0.64 0.55 4.51 0.56
Book Value Per Common Share 48.55 47.28 50.97 49.35 48.23
Price to Book 0.90 0.99 0.77 0.76 0.82
Price to Operating Cash Flow 2.09 2.21 2.35 9.91 1.50
Price to Free Cash Flow 3.37 3.86 4.24 17.54 2.14
Enterprise Value to EBITDA 151345.64 155466.05 133421.70 132493.15 143407.07

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY 0.84 1.28 1.95
Revenue YoY 3.20 2.68 2.99
EBITDA YoY 0.94 0.10 2.61
Net Profit YoY 0.63 1.65 2.08
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY -6.87 3.97 -8.66
Revenue YoY 2.14 1.75 -14.38 16.98
EBITDA YoY -3.87 2.02 3.42 2.73
Net Profit YoY -7.15 3.76 9.21 -0.36

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 75.98 68.69 68.32 56.82
Quick Ratio 1.15 1.27 1.25 1.12
Current Ratio 1.38 1.52 1.50 1.37
Debt to Equity 0.35 0.33 0.34 0.32
Long-Term Debt to Equity 0.14 0.16 0.16 0.15
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 51.71 95.33 83.81 7.60 58.16
Quick Ratio 1.14 0.96 1.33 1.15 1.14
Current Ratio 1.50 1.15 1.63 1.38 1.47
Debt to Equity 0.31 0.43 0.32 0.35 0.32
Long-Term Debt to Equity 0.14 0.14 0.14 0.14 0.14

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 6.96 7.06 6.95 6.94
ROE 9.40 9.41 9.29 9.15
Gross Margin 35.87 36.00 36.62 35.49
Operating Margin 21.08 21.37 22.01 22.10
EBITDA Margin 38.41 39.27 40.28 40.43
Net Profit Margin 16.27 16.69 16.86 17.01
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA 1.84 1.87 1.82 1.68 1.77
ROE 2.42 2.68 2.40 2.27 2.33
Gross Margin 36.79 38.02 38.29 32.60 36.38
Operating Margin 21.44 23.45 23.07 18.70 20.92
EBITDA Margin 38.81 41.24 41.13 34.05 38.78
Net Profit Margin 16.39 18.03 17.68 13.86 16.27

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Dividend Yield 0.00 0.00
Dividend Payout Ratio 99.25 98.70 98.32 93.79
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Dividend Yield 0.00
Dividend Payout Ratio 0.00

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 534,297,000.00 523,741,000.00 522,996,000.00 512,875,000.00
   Current Assets 112,968,000.00 103,204,000.00 101,901,000.00 91,021,000.00
      Cash and Short-Term Investments 58,943,000.00 53,283,000.00 52,998,000.00 44,078,000.00
            Cash and Cash Equivalents 36,260,000.00 33,824,000.00 50,193,000.00 39,779,000.00
            Short-Term Investments 22,683,000.00 19,459,000.00 2,805,000.00 4,299,000.00
      Net Receivables 35,345,000.00 32,526,000.00 31,618,000.00 30,307,000.00
      Inventory 14,093,000.00 13,754,000.00 14,696,000.00 14,163,000.00
      Other Current Assets 4,587,000.00 3,641,000.00 2,589,000.00 2,473,000.00
   Non-Current Assets 421,329,000.00 420,537,000.00 421,095,000.00 421,854,000.00
      Property, Plant, Equipment Net 300,752,000.00 303,576,000.00 302,631,000.00 300,151,000.00
      Real Estate 12,302,000.00 9,805,000.00 9,804,000.00 9,663,000.00
      Goodwill 217,000.00 217,000.00 217,000.00 217,000.00
      Intangible Assets 69,195,000.00 74,239,000.00 78,970,000.00 83,728,000.00
      Long-Term Investments 17,551,000.00 14,700,000.00 12,460,000.00 12,662,000.00
      Non-Current Deferred Assets 2,883,000.00 3,038,000.00 3,177,000.00 3,773,000.00
      Other Non-Current Assets 18,429,000.00 14,962,000.00 13,836,000.00 11,660,000.00
Liabilities 138,491,000.00 131,022,000.00 131,467,000.00 123,745,000.00
   Current Liabilities 81,997,000.00 67,750,000.00 67,740,000.00 66,229,000.00
      Payables and Expenses 51,626,000.00 46,651,000.00 49,047,000.00 47,425,000.00
            Account Payables 17,743,000.00 14,396,000.00 16,429,000.00 18,063,000.00
            Current Accrued Liabilities 14,339,000.00 13,865,000.00 13,614,000.00 11,137,000.00
      Short-Term Debt 12,576,000.00 5,690,000.00 4,061,000.00 3,276,000.00
      Other Current Liabilities 17,795,000.00 15,409,000.00 14,632,000.00 15,528,000.00
   Non-Current Liabilities 56,494,000.00 63,272,000.00 63,727,000.00 57,516,000.00
      Long-Term Debt 30,654,000.00 37,953,000.00 39,411,000.00 35,639,000.00
      Other Non-Current Liabilities 25,840,000.00 25,319,000.00 24,316,000.00 21,877,000.00
Equity 395,806,000.00 392,719,000.00 391,529,000.00 389,130,000.00
   Shareholders Equity 382,826,000.00 380,287,000.00 379,121,000.00 377,383,000.00
      Capital Stock 77,574,000.00 77,574,000.00 77,574,000.00 77,574,000.00
      Share Premium 150,054,000.00 149,828,000.00 149,844,000.00 149,810,000.00
      Retained Earnings 154,612,000.00 152,532,000.00 151,926,000.00 150,407,000.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income 0 0 -223,000.00 -408,000.00
   Minority Interest 12,980,000.00 12,432,000.00 12,408,000.00 11,747,000.00
Debt 43,230,000.00 43,643,000.00 43,472,000.00 38,915,000.00
Common Shares Outstanding 7,757,446.54 7,757,446.54 7,757,446.54 7,757,446.54
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 228,575,000.00 221,495,000.00 215,709,000.00 209,441,000.00
Cost Of Revenue 146,583,000.00 141,767,000.00 136,717,000.00 135,111,000.00
Interest Income 781,000.00 618,000.00 249,000.00 95,000.00
Interest Expense 339,000.00 319,000.00 263,000.00 218,000.00
Non-Interest Expense 32,279,000.00 30,400,000.00 29,399,000.00 26,237,000.00
Gross Profit 81,992,000.00 79,728,000.00 78,992,000.00 74,330,000.00
Operating Expenses 35,241,000.00 32,740,000.00 32,260,000.00 29,031,000.00
   Selling, General and Administrative Expenses 32,279,000.00 30,400,000.00 29,399,000.00 26,237,000.00
   Research and Development Expenses 4,167,000.00 3,892,000.00 3,774,000.00 3,688,000.00
   Other Operating Expenses -1,393,000.00 -1,704,000.00 -1,030,000.00 -1,037,000.00
Operating Income 46,751,000.00 46,988,000.00 46,732,000.00 45,299,000.00
Net Non-Operating Income 212,000.00 144,000.00 198,000.00 208,000.00
EBT 47,841,000.00 47,008,000.00 47,204,000.00 46,067,000.00
Income Tax 9,333,000.00 8,947,000.00 9,335,000.00 9,020,000.00
Net Income Including Non-Controlling Interests 38,508,000.00 38,061,000.00 37,869,000.00 37,047,000.00
Net Income Non-Controlling Interests -1,319,000.00 -1,103,000.00 -1,511,000.00 -1,431,000.00
Net Income 37,189,000.00 36,958,000.00 36,358,000.00 35,616,000.00
EBIT 48,180,000.00 47,327,000.00 47,467,000.00 46,285,000.00
Deprecation and Amortization 39,619,000.00 39,655,000.00 39,429,000.00 38,401,000.00
EBITDA 87,799,000.00 86,982,000.00 86,896,000.00 84,686,000.00
EPS 0.05 0.05 0.05 0.05
Diluted EPS 0.05 0.05 0.05 0.05
Average Shares Outstanding Basic 775,744.70 775,744.70 775,744.70 775,744.70
Average Shares Outstanding Diluted 777,492.90 776,574.60 776,578.90 776,522.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 79,244,000.00 74,559,000.00 75,951,000.00 74,858,000.00
   Operating Net Income 47,841,000.00 47,008,000.00 47,204,000.00 46,067,000.00
   Deprecation and Amortization 39,619,000.00 39,655,000.00 39,429,000.00 38,401,000.00
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 8,000.00 8,000.00 16,000.00 19,000.00
   Change in Working Capital 863,000.00 -3,670,000.00 -2,849,000.00 -1,984,000.00
   Other Operating Activities -9,087,000.00 -8,442,000.00 -7,849,000.00 -7,645,000.00
Investing Cash Flow -35,332,000.00 -50,174,000.00 -30,789,000.00 -31,172,000.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE -28,743,000.00 -30,722,000.00 -31,519,000.00 -35,306,000.00
   Net Purchase/Sale of Investments Net -5,344,000.00 -17,078,000.00 1,349,000.00 3,657,000.00
   Net Purchase/Sale of Business -776,000.00 -1,555,000.00 288,000.00 -321,000.00
   Other Investing Activities -469,000.00 -819,000.00 -907,000.00 798,000.00
Financing Cash Flow -41,516,000.00 -40,730,000.00 -34,800,000.00 -34,314,000.00
   Net Issuance/Repayment of Debt -4,279,000.00 -4,021,000.00 380,000.00 -3,731,000.00
   Net Issuance/Repurchase of Equity 0 0 0 0
   Dividends Paid -36,910,000.00 -36,476,000.00 -35,746,000.00 -33,404,000.00
   Other Financing Activities -327,000.00 -233,000.00 566,000.00 2,821,000.00
Net Change in Cash 2,396,000.00 -16,345,000.00 10,362,000.00 9,372,000.00
   Cash at Beginning of Period 33,824,000.00 50,193,000.00 39,779,000.00 30,420,000.00
   Cash at End of Period 36,260,000.00 33,824,000.00 50,193,000.00 39,779,000.00
Free Cash Flow 50,254,000.00 43,581,000.00 42,523,000.00 39,269,000.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Assets 513,095,556.00 544,484,355.00 537,230,081.00 534,297,000.00 509,622,790.00
   Current Assets 99,787,952.00 128,697,558.00 118,623,252.00 112,968,000.00 98,922,536.00
      Cash and Short-Term Investments 40,112,907.00 73,948,784.00 65,011,481.00 58,943,000.00 45,119,316.00
            Cash and Cash Equivalents 23,526,659.00 35,033,086.00 29,047,839.00 36,260,000.00 31,214,852.00
            Short-Term Investments 16,586,248.00 38,915,698.00 35,963,642.00 22,683,000.00 13,904,464.00
      Net Receivables 35,709,401.00 32,653,622.00 31,947,692.00 35,345,000.00 31,500,709.00
      Inventory 15,886,088.00 14,196,070.00 13,824,942.00 14,093,000.00 14,762,922.00
      Other Current Assets 8,079,556.00 7,899,082.00 7,839,137.00 4,587,000.00 7,539,589.00
   Non-Current Assets 413,307,604.00 415,786,797.00 418,606,829.00 421,329,000.00 410,700,254.00
      Property, Plant, Equipment Net 294,794,807.00 296,156,735.00 297,910,532.00 300,752,000.00 294,085,103.00
      Real Estate 12,303,927.00 12,281,328.00 12,292,561.00 12,302,000.00 11,642,246.00
      Goodwill 217,582.00 217,582.00 217,582.00 217,000.00 217,582.00
      Intangible Assets 65,770,439.00 62,785,495.00 64,429,609.00 69,195,000.00 67,640,026.00
      Long-Term Investments 18,727,715.00 18,611,420.00 18,507,231.00 17,551,000.00 15,586,364.00
      Non-Current Deferred Assets 2,862,409.00 2,921,189.00 2,957,770.00 2,883,000.00 3,179,877.00
      Other Non-Current Assets 18,630,725.00 22,813,048.00 22,291,544.00 18,429,000.00 18,349,056.00
Liabilities 122,665,684.00 164,861,133.00 128,954,737.00 138,491,000.00 122,935,189.00
   Current Liabilities 66,517,984.00 111,629,891.00 72,882,308.00 81,997,000.00 67,272,488.00
      Payables and Expenses 37,557,367.00 74,984,362.00 38,435,705.00 51,626,000.00 34,760,372.00
            Account Payables 13,471,366.00 11,120,995.00 10,692,983.00 17,743,000.00 12,379,605.00
            Current Accrued Liabilities 10,159,373.00 7,621,298.00 8,910,633.00 14,339,000.00 8,484,720.00
      Short-Term Debt 6,465,880.00 14,991,025.00 13,073,599.00 12,576,000.00 12,767,644.00
      Other Current Liabilities 22,494,737.00 21,654,504.00 21,373,004.00 17,795,000.00 19,744,472.00
   Non-Current Liabilities 56,147,700.00 53,231,242.00 56,072,429.00 56,494,000.00 55,662,701.00
      Long-Term Debt 32,112,943.00 28,654,522.00 30,781,570.00 30,654,000.00 30,745,285.00
      Other Non-Current Liabilities 24,034,757.00 24,576,720.00 25,290,859.00 25,840,000.00 24,917,416.00
Equity 390,429,872.00 379,623,222.00 408,275,344.00 395,806,000.00 386,687,601.00
   Shareholders Equity 376,613,756.00 366,734,843.00 395,403,990.00 382,826,000.00 374,105,135.00
      Capital Stock 77,574,465.00 77,574,465.00 77,574,465.00 77,574,000.00 77,574,465.00
      Share Premium 172,120,952.00 171,587,138.00 171,596,531.00 150,054,000.00 171,572,234.00
      Retained Earnings 125,820,765.00 116,380,667.00 145,002,457.00 154,612,000.00 124,398,359.00
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income 1,097,574.00 1,192,573.00 1,230,537.00 0 560,077.00
   Minority Interest 13,816,116.00 12,888,379.00 12,871,354.00 12,980,000.00 12,582,466.00
Debt 38,578,823.00 43,645,547.00 43,855,169.00 43,230,000.00 43,512,929.00
Net Debt 4,015,427.00 0 3,606,764.00 0 1,302,015.00
Common Shares Outstanding 7,757,446.54 7,757,446.54 7,757,446.54 7,757,446.54 7,757,446.54
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30
Revenues 57,602,308.00 56,396,180.00 55,428,544.00 64,740,610.00 55,342,425.00 0
Cost Of Revenue 36,412,454.00 34,955,117.00 34,203,238.00 43,634,807.00 35,207,760.00 0
Interest Income 180,894.00 302,307.00 211,517.00 212,681.00 173,554.00 0
Interest Expense 91,141.00 92,180.00 89,357.00 86,726.00 85,814.00 0
Non-Interest Expense 8,164,509.00 8,168,368.00 7,934,127.00 8,883,098.00 7,916,778.00 0
Gross Profit 21,189,854.00 21,441,063.00 21,225,306.00 21,105,803.00 20,134,665.00 0
Operating Expenses 9,091,682.00 8,901,188.00 8,703,638.00 9,592,492.00 8,749,379.00 0
   Selling, General and Administrative Expenses 8,164,509.00 8,168,368.00 7,934,127.00 8,883,098.00 7,916,778.00 0
   Research and Development Expenses 1,097,567.00 1,100,949.00 1,029,841.00 1,151,660.00 1,067,585.00 0
   Other Operating Expenses -322,029.00 -334,216.00 -379,865.00 -554,710.00 -271,051.00 0
Operating Income 12,098,172.00 12,539,875.00 12,521,668.00 11,513,311.00 11,385,286.00 0
Net Non-Operating Income 51,937.00 61,483.00 37,034.00 35,340.00 84,368.00 0
EBT 12,258,074.00 13,130,257.00 12,699,011.00 12,017,433.00 11,489,102.00 0
Income Tax 2,403,225.00 2,525,631.00 2,503,200.00 2,510,107.00 2,203,816.00 0
Net Income Including Non-Controlling Interests 9,854,849.00 10,604,626.00 10,195,811.00 9,507,326.00 9,285,286.00 0
Net Income Non-Controlling Interests -414,751.00 -437,462.00 -396,617.00 -534,618.00 -280,280.00 0
Net Income 9,440,098.00 10,167,164.00 9,799,194.00 8,972,708.00 9,005,006.00 0
EBIT 12,349,215.00 13,222,437.00 12,788,368.00 12,104,159.00 11,574,916.00 0
Deprecation and Amortization 10,008,857.00 10,034,831.00 10,009,075.00 9,939,719.00 9,884,119.00 0
EBITDA 22,358,072.00 23,257,268.00 22,797,443.00 22,043,878.00 21,459,035.00 0
EPS 0.01 0.01 0.01 0 0.01 0.01
Diluted EPS 0.01 0.01 0.01 0 0.01 0.01
Average Shares Outstanding Basic 775,744.70 775,744.70 775,744.70 0 775,744.70 775,744.70
Average Shares Outstanding Diluted 776,131.00 776,125.70 777,101.90 0 776,116.30 776,140.80
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Operating Cash Flow 16,173,819.00 16,331,895.00 12,951,016.00 29,487,152.00 20,526,207.00
   Operating Net Income 12,258,074.00 13,130,257.00 12,699,011.00 12,017,433.00 11,489,102.00
   Deprecation and Amortization 10,008,857.00 10,034,831.00 10,009,075.00 9,939,719.00 9,884,119.00
   Deferred Income Tax 0 0 0 0 0
   Share Based Compensation 1,395.00 1,101.00 1,225.00 1,218.00 2,153.00
   Change in Working Capital -1,506,981.00 -2,063,404.00 -9,840,932.00 7,835,231.00 3,615,294.00
   Other Operating Activities -4,587,526.00 -4,770,890.00 82,637.00 -306,449.00 -4,464,461.00
Investing Cash Flow 17,425,228.00 -8,927,542.00 -19,143,397.00 -24,204,416.00 11,419,512.00
   Capital Expenditure 0 0 0 0 0
   Net Purchase/Sale of PPE -6,100,570.00 -6,923,405.00 -5,747,372.00 -12,737,669.00 -6,115,538.00
   Net Purchase/Sale of Investments Net 22,746,831.00 -2,504,439.00 -13,473,318.00 -10,544,715.00 17,190,397.00
   Net Purchase/Sale of Business 5,026.00 -14,400.00 -8,664.00 -375,681.00 -288,405.00
   Other Investing Activities 773,941.00 514,702.00 85,957.00 -546,351.00 633,058.00
Financing Cash Flow -45,145,103.00 -1,269,967.00 -1,058,516.00 -243,259.00 -38,459,199.00
   Net Issuance/Repayment of Debt -6,100,300.00 -963,094.00 -823,598.00 -1,200,072.00 -917,187.00
   Net Issuance/Repurchase of Equity 0 0 0 0 0
   Dividends Paid 0 0 0 -69.00 0
   Other Financing Activities 0 0 0 956,882.00 0
Net Change in Cash -11,546,056.00 6,134,386.00 -7,250,897.00 5,039,477.00 -6,513,480.00
   Cash at Beginning of Period 35,033,086.00 29,047,839.00 36,259,689.00 31,214,852.00 37,711,905.00
   Cash at End of Period 23,526,659.00 35,033,086.00 29,047,839.00 36,260,000.00 31,214,852.00
Free Cash Flow 10,032,170.00 9,379,149.00 7,168,725.00 16,650,166.00 14,373,874.00