Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 2.24
Price to Sales 2.07
Book Value Per Common Share 6.14 11.66 10.77 9.72
Price to Book 1.62
Price to Operating Cash Flow 4.24
Price to Free Cash Flow -2.94
Enterprise Value to EBITDA 16282.72
Breakdown 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30
Price to Earnings 225.50 40.09
Price to Sales 4.52 7.50 8.53 14.55
Book Value Per Common Share 6.83 6.59 6.14 5.67 6.32
Price to Book 1.32 1.38 1.62 2.93
Price to Operating Cash Flow 41.88 49.62 17.52 39.26
Price to Free Cash Flow -6.26 -9.17 -6.04 -19.92
Enterprise Value to EBITDA 88621.09 107161.17 116830.20 161759.38

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY 3.98 322.77
Revenue YoY -23.87 44.52 103.60
EBITDA YoY -2.74 136.36 679.25
Net Profit YoY 1.49 322.15
Breakdown 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30
Earning YoY -82.34 -61.38
Revenue YoY 64.99 3.99 1.89 -11.97
EBITDA YoY 20.12 -0.29 -17.27 -23.57
Net Profit YoY -82.34 -52.76 -5.05 -46.80

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 0.20 2.13 0.89 0.76
Quick Ratio 0.59 1.69 2.00 1.14
Current Ratio 1.20 3.84 2.39 1.43
Debt to Equity 2.28 0.45 0.83 0.92
Long-Term Debt to Equity 1.95 0.27 0.71 0.76
Breakdown 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30
Cash Per Common Share 0.80 0.84 0.20 0.25 1.77
Quick Ratio 0.75 0.70 0.59 0.80 0.96
Current Ratio 0.92 0.95 1.20 1.29 1.37
Debt to Equity 2.29 2.14 2.28 2.29 2.04
Long-Term Debt to Equity 1.98 1.83 1.95 1.92 1.54

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 22.30 25.09 5.12 -8.99
ROE 73.04 36.40 9.35 -17.28
Gross Margin 42.16 51.53 27.50 -65.39
Operating Margin 108.33 80.72 34.25 -66.43
EBITDA Margin 125.99 98.61 60.29 15.75
Net Profit Margin 92.62 69.47 23.78 -80.71
Breakdown 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30
ROA 0.09 0.53 2.38 2.71 4.94
ROE 0.30 1.68 7.81 8.90 15.03
Gross Margin 20.76 30.64 37.62 39.88 43.81
Operating Margin 22.96 46.35 53.62 71.82 87.10
EBITDA Margin 50.99 70.04 73.04 89.96 103.62
Net Profit Margin 2.00 18.72 41.20 44.21 73.16

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Dividend Yield 0.01
Dividend Payout Ratio 129.38 73.49 11.92 -7.15
Breakdown 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30
Dividend Yield 0.00 0.00 0.00 0.00
Dividend Payout Ratio 63.92 0.98 18.80 209.88 481.41

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 3,905,046.00 3,419,280.00 3,969,073.00 3,768,523.00
   Current Assets 470,819.00 1,631,737.00 607,059.00 459,407.00
      Cash and Short-Term Investments 38,869.00 429,370.00 179,929.00 152,528.00
            Cash and Cash Equivalents 38,869.00 429,370.00 179,929.00 152,528.00
            Short-Term Investments 0 0 0 0
      Net Receivables 192,803.00 286,815.00 329,183.00 214,603.00
      Inventory 26,500.00 22,511.00 41,643.00 69,035.00
      Other Current Assets 212,647.00 893,041.00 56,304.00 23,241.00
   Non-Current Assets 3,434,227.00 1,787,543.00 3,362,014.00 3,309,116.00
      Property, Plant, Equipment Net 3,271,084.00 1,769,663.00 3,308,616.00 3,179,299.00
      Goodwill 0 0 0 0
      Intangible Assets 16,187.00 14,194.00 15,746.00 0
      Long-Term Investments 61,806.00 519.00 1,424.00 72,447.00
      Non-Current Deferred Assets 10,074.00 280.00 1,403.00 1,546.00
      Other Non-Current Assets 75,076.00 2,887.00 34,825.00 0
Liabilities 2,712,722.00 1,061,907.00 1,795,608.00 1,807,941.00
   Current Liabilities 392,656.00 424,753.00 254,338.00 321,033.00
      Payables and Expenses 61,328.00 111,426.00 78,854.00 76,733.00
            Account Payables 22,296.00 42,032.00 24,696.00 26,012.00
            Current Accrued Liabilities 27,488.00 46,622.00 46,243.00 46,750.00
      Short-Term Debt 303,687.00 295,648.00 157,647.00 236,493.00
      Other Current Liabilities 27,641.00 17,679.00 17,837.00 7,807.00
   Non-Current Liabilities 2,320,066.00 637,154.00 1,541,270.00 1,486,908.00
      Long-Term Debt 2,318,568.00 635,065.00 1,538,634.00 1,475,687.00
      Other Non-Current Liabilities 1,498.00 2,089.00 2,636.00 11,221.00
Equity 1,192,324.00 2,357,373.00 2,173,465.00 1,960,582.00
   Shareholders Equity 1,192,324.00 2,357,373.00 2,173,465.00 1,960,582.00
      Capital Stock 239,148.00 239,148.00 239,148.00 239,148.00
      Share Premium 460,486.00 1,466,529.00 1,678,336.00 1,702,549.00
      Retained Earnings 777,098.00 807,916.00 385,976.00 180,140.00
      Treasury Shares 284,508.00 157,595.00 163,024.00 164,104.00
      Accumulated Other Comprehensive Income 100.00 1,375.00 33,029.00 2,849.00
   Minority Interest 0 0 0 0
Debt 2,622,255.00 930,713.00 1,696,281.00 1,712,180.00
Net Debt 2,579,642.00 464,487.00 1,487,673.00 1,520,601.00
Common Shares Outstanding 194,216.83 202,234.00 201,783.53 201,677.98
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 940,246.00 1,235,127.00 854,669.00 419,770.00
Cost Of Revenue 543,858.00 598,663.00 619,647.00 694,258.00
Interest Income 15,895.00 20,620.00 7,063.00 1,896.00
Interest Expense 145,837.00 132,899.00 86,655.00 60,339.00
Non-Interest Expense 75,885.00 59,240.00 47,621.00 29,290.00
Gross Profit 396,388.00 636,464.00 235,022.00 -274,488.00
Operating Expenses 27,106.00 39,216.00 36,561.00 22,154.00
   Selling, General and Administrative Expenses 75,885.00 59,240.00 47,621.00 29,290.00
   Other Operating Expenses -50,984.00 -23,610.00 -15,403.00 -10,482.00
Operating Income 369,282.00 597,248.00 198,461.00 -296,642.00
EBT 872,722.00 864,036.00 206,055.00 -339,204.00
Income Tax 1,893.00 6,009.00 2,804.00 -427.00
Net Income Including Non-Controlling Interests 870,829.00 858,027.00 203,251.00 -338,777.00
Net Income 870,829.00 858,027.00 203,251.00 -338,777.00
EBIT 1,018,559.00 996,935.00 292,710.00 -278,865.00
Deprecation and Amortization 166,029.00 221,040.00 222,597.00 344,994.00
EBITDA 1,184,588.00 1,217,975.00 515,307.00 66,129.00
EPS 0.00 0.00 0.00 -0.00
Diluted EPS 0.00 0.00 0.00 -0.00
Average Shares Outstanding Basic 196,041.58 201,901.74 201,747.96 201,677.98
Average Shares Outstanding Diluted 196,041.58 201,901.74 201,994.22 201,773.24
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 459,064.00 837,380.00 255,553.00 -25,305.00
   Operating Net Income 870,829.00 858,027.00 203,251.00 -338,777.00
   Deprecation and Amortization 166,029.00 221,040.00 222,597.00 344,994.00
   Deferred Income Tax 1,893.00 6,009.00 2,804.00 -427.00
   Share Based Compensation 0 0 0 0
   Change in Working Capital 39,307.00 105,881.00 -82,727.00 -20,504.00
   Other Operating Activities 0 0 0 0
Investing Cash Flow -680,230.00 869,680.00 -158,845.00 -353,246.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE 598,933.00 868,034.00 -166,928.00 -357,360.00
   Net Purchase/Sale of Investments Net 0 0 0 0
   Net Purchase/Sale of Business -1,196,798.00 0 0 0
   Other Investing Activities -82,365.00 1,646.00 8,083.00 4,114.00
Financing Cash Flow -172,971.00 -1,460,887.00 -62,895.00 373,893.00
   Net Issuance/Repayment of Debt 1,099,848.00 -815,817.00 -33,883.00 402,527.00
   Net Issuance/Repurchase of Equity -126,913.00 0 1,080.00 0
   Dividends Paid -1,126,683.00 -630,540.00 -24,221.00 -24,212.00
   Other Financing Activities -19,223.00 -14,530.00 -5,871.00 -4,422.00
Net Change in Cash -394,137.00 246,173.00 33,813.00 -4,658.00
   Cash at Beginning of Period 429,370.00 179,929.00 152,528.00 161,478.00
   Cash at End of Period 38,869.00 429,370.00 179,929.00 152,528.00
Free Cash Flow -662,406.00 498,718.00 -284,687.00 -438,624.00
Breakdown 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30
Assets 8,399,374.00 8,231,233.00 3,905,046.00 3,624,185.00 3,731,649.00
   Current Assets 714,900.00 759,127.00 470,819.00 530,579.00 843,843.00
      Cash and Short-Term Investments 155,048.00 162,886.00 38,869.00 47,778.00 343,899.00
            Cash and Cash Equivalents 155,048.00 162,886.00 38,869.00 47,778.00 343,899.00
            Short-Term Investments 0 0 0 0 0
      Net Receivables 427,358.00 402,756.00 192,803.00 280,579.00 246,819.00
      Inventory 58,340.00 51,500.00 26,500.00 30,139.00 32,787.00
      Other Current Assets 74,154.00 141,985.00 212,647.00 172,083.00 220,338.00
   Non-Current Assets 7,684,474.00 7,472,106.00 3,434,227.00 3,093,606.00 2,887,806.00
      Property, Plant, Equipment Net 7,279,642.00 7,070,288.00 3,271,084.00 2,933,925.00 2,740,305.00
      Goodwill 172,350.00 0 0 0 0
      Intangible Assets 16,675.00 0 16,187.00 0 16,661.00
      Long-Term Investments 117,948.00 115,803.00 61,806.00 61,995.00 61,238.00
      Non-Current Deferred Assets 8,648.00 9,548.00 10,074.00 5,630.00 5,604.00
      Other Non-Current Assets 89,211.00 0 0 0 0
Liabilities 5,846,532.00 5,608,298.00 2,712,722.00 2,522,286.00 2,504,969.00
   Current Liabilities 779,583.00 803,230.00 392,656.00 411,671.00 614,032.00
      Payables and Expenses 131,112.00 210,168.00 61,328.00 121,978.00 78,829.00
            Account Payables 80,180.00 203,467.00 22,296.00 113,825.00 40,495.00
            Current Accrued Liabilities 32,727.00 0 27,488.00 0 30,500.00
      Short-Term Debt 577,920.00 592,871.00 303,687.00 289,340.00 512,393.00
      Other Current Liabilities 70,551.00 191.00 27,641.00 353.00 22,810.00
   Non-Current Liabilities 5,066,949.00 4,805,068.00 2,320,066.00 2,110,615.00 1,890,937.00
      Long-Term Debt 5,063,802.00 4,802,977.00 2,318,568.00 2,108,401.00 1,889,642.00
      Other Non-Current Liabilities 3,147.00 2,091.00 1,498.00 2,214.00 1,295.00
Equity 2,552,842.00 2,622,935.00 1,192,324.00 1,101,899.00 1,226,680.00
   Shareholders Equity 1,327,331.00 1,280,361.00 1,192,324.00 1,101,899.00 1,226,680.00
      Capital Stock 239,148.00 239,148.00 239,148.00 239,148.00 239,148.00
      Share Premium 460,486.00 460,486.00 460,486.00 460,486.00 631,397.00
      Retained Earnings 902,569.00 862,137.00 777,098.00 683,949.00 638,309.00
      Treasury Shares 284,508.00 284,508.00 284,508.00 284,508.00 284,508.00
      Accumulated Other Comprehensive Income 9,636.00 3,098.00 100.00 2,824.00 2,334.00
   Minority Interest 1,225,511.00 1,342,574.00 0 0 0
Debt 5,641,722.00 5,395,848.00 2,622,255.00 2,397,741.00 2,402,035.00
Net Debt 5,366,978.00 5,109,415.00 2,579,642.00 2,345,689.00 2,053,034.00
Common Shares Outstanding 194,216.83 194,216.83 194,216.83 194,216.83 194,216.83
Breakdown 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31
Revenues 387,808.00 235,044.00 226,029.00 221,840.00 252,000.00 0
Cost Of Revenue 307,306.00 163,026.00 140,999.00 133,371.00 141,600.00 0
Interest Income 629.00 6,237.00 -14,623.00 17,226.00 -2,034.00 0
Interest Expense 91,902.00 70,452.00 31,765.00 60,005.00 30,540.00 0
Non-Interest Expense 32,238.00 22,847.00 22,735.00 17,566.00 18,581.00 0
Gross Profit 80,502.00 72,018.00 85,030.00 88,469.00 110,400.00 0
Operating Expenses 20,527.00 15,713.00 16,362.00 12,702.00 -12,068.00 0
   Selling, General and Administrative Expenses 32,238.00 22,847.00 22,735.00 17,566.00 18,581.00 0
   Other Operating Expenses -13,170.00 -7,134.00 -8,578.00 -3,998.00 -30,649.00 0
Operating Income 59,975.00 56,305.00 68,668.00 75,767.00 122,468.00 0
EBT -2,861.00 38,490.00 89,421.00 99,317.00 188,942.00 0
Income Tax 4,723.00 -1,883.00 -3,709.00 1,238.00 4,572.00 0
Net Income Including Non-Controlling Interests -7,584.00 40,373.00 93,130.00 98,079.00 184,370.00 0
Net Income Non-Controlling Interests 15,352.00 3,625.00 0 0 0 0
Net Income 7,768.00 43,998.00 93,130.00 98,079.00 184,371.00 0
EBIT 89,041.00 108,942.00 121,186.00 159,322.00 219,482.00 0
Deprecation and Amortization 108,698.00 55,671.00 43,911.00 40,241.00 41,639.00 0
EBITDA 197,739.00 164,613.00 165,097.00 199,563.00 261,121.00 0
EPS 0.00 0.00 0 0 0.00 0.00
Diluted EPS 0.00 0.00 0 0 0.00 0.00
Average Shares Outstanding Basic 194,216.83 194,216.83 0 0 194,250.95 201,521.80
Average Shares Outstanding Diluted 194,216.83 194,216.83 0 0 194,250.95 201,521.80
Breakdown 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30
Operating Cash Flow 41,830.00 35,544.00 110,063.00 82,212.00 28,487.00
   Operating Net Income -7,584.00 40,373.00 93,130.00 98,079.00 184,371.00
   Deprecation and Amortization 108,698.00 55,671.00 43,911.00 40,241.00 41,639.00
   Deferred Income Tax 4,723.00 -1,883.00 -3,709.00 1,238.00 4,572.00
   Share Based Compensation 0 0 0 0 0
   Change in Working Capital -20,805.00 -42,344.00 29,573.00 -3,033.00 -78,778.00
   Other Operating Activities -43,202.00 -16,273.00 -52,842.00 -54,313.00 -123,317.00
Investing Cash Flow -139,914.00 -1,245,691.00 -395,560.00 -157,120.00 -197,433.00
   Capital Expenditure 0 0 0 0 0
   Net Purchase/Sale of PPE -187,528.00 -97,439.00 -308,766.00 -156,419.00 -74,355.00
   Net Purchase/Sale of Investments Net 0 0 0 0 0
   Net Purchase/Sale of Business 49,441.00 -1,148,338.00 -47,734.00 0 -240.00
   Other Investing Activities 0 0 0 -701.00 0
Financing Cash Flow 82,896.00 1,341,620.00 281,054.00 -230,809.00 4,070.00
   Net Issuance/Repayment of Debt 260,442.00 1,359,550.00 190,826.00 97,517.00 913,009.00
   Net Issuance/Repurchase of Equity 0 0 0 0 -11,348.00
   Dividends Paid -4,965.00 -430.00 -17,508.00 -205,844.00 -887,573.00
   Other Financing Activities -172,581.00 -17,500.00 107,736.00 -122,482.00 -10,018.00
Net Change in Cash -15,189.00 131,474.00 -4,443.00 -305,717.00 -164,876.00
   Cash at Beginning of Period 162,886.00 38,869.00 47,778.00 343,899.00 508,852.00
   Cash at End of Period 155,048.00 162,886.00 38,869.00 47,778.00 343,899.00
Free Cash Flow -279,698.00 -192,212.00 -319,115.00 -162,047.00 -279,480.00