CME

Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 23.97 23.74 22.69 31.30
Price to Sales 13.61 13.55 12.02 17.46
Book Value Per Common Share 73.66 74.43 74.89 76.41
Price to Book 3.15 2.83 2.25 2.99
Price to Operating Cash Flow 22.62 21.89 19.74 34.08
Price to Free Cash Flow 23.21 22.39 20.34 35.98
Enterprise Value to EBITDA 165726.31 162154.38 150309.01 208681.54
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Price to Earnings 108.51 98.09 100.87 96.76 87.91 91.61 78.81 121.36 127.64
Price to Sales 63.21 58.59 58.09 54.75 50.05 51.98 47.69 63.34 58.36
Book Value Per Common Share 78.34 77.13 75.17 73.66 78.47 75.58 76.29 77.35 74.07
Price to Book 3.45 3.57 3.53 3.15 2.81 2.85 2.51 3.08 2.76
Price to Operating Cash Flow 100.39 93.65 85.44 82.03 79.06 86.64 76.18 106.75 121.36
Price to Free Cash Flow 102.33 95.31 86.54 84.20 81.49 88.61 77.48 109.96 127.38
Enterprise Value to EBITDA 745846.38 680022.66 696873.07 684125.04 609819.25 624453.75 534757.10 811828.92 820006.75

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY 9.24 19.70 1.51
Revenue YoY 9.88 11.15 7.03
EBITDA YoY 8.01 16.19 2.28
Net Profit YoY 9.29 19.89 1.53
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Earning YoY -11.39 6.84 9.58 -4.38 6.81 -3.29 23.98 22.50
Revenue YoY -9.13 3.03 7.67 -3.73 6.49 3.21 7.05 7.44
EBITDA YoY -10.57 6.48 12.15 -6.17 5.04 -3.65 22.35 17.79
Net Profit YoY -11.42 7.20 9.32 -4.17 6.74 -3.24 22.74 23.78

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 8.36 8.42 7.85 8.23
Quick Ratio 0.04 0.04 0.02 0.02
Current Ratio 1.01 1.02 1.01 1.01
Debt to Equity 4.19 3.85 5.48 6.18
Long-Term Debt to Equity 0.33 0.36 0.36 0.33
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Cash Per Common Share 7.15 5.84 4.22 8.36 6.77 4.34 4.65 6.01 2.91
Quick Ratio 0.02 0.02 1.01 0.04 0.03 1.01 1.01 1.01 1.01
Current Ratio 1.02 1.02 1.02 1.01 1.02 1.01 1.02 1.02 1.02
Debt to Equity 5.64 5.49 4.84 4.19 3.88 3.86 5.06 6.42 5.05
Long-Term Debt to Equity 0.33 0.34 0.35 0.33 0.31 0.32 0.35 0.35 0.37

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 2.53 2.46 1.53 1.33
ROE 13.14 11.91 9.89 9.55
Gross Margin 86.13 85.15 85.00 82.15
Operating Margin 76.71 77.31 72.78 75.50
EBITDA Margin 82.20 83.63 80.00 83.71
Net Profit Margin 56.79 57.10 52.94 55.81
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
ROA 0.48 0.56 0.60 0.63 0.65 0.64 0.53 0.35 0.36
ROE 3.18 3.65 3.49 3.26 3.19 3.11 3.19 2.56 2.16
Gross Margin 84.55 86.90 85.52 86.19
Operating Margin 79.41 81.22 78.34 74.56 76.82 77.51 83.02 71.20 63.34
EBITDA Margin 84.78 86.15 83.36 80.03 82.11 83.24 89.17 78.03 71.17
Net Profit Margin 58.31 59.82 57.49 56.62 56.89 56.75 60.54 52.80 45.83

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 102.95 101.57 99.11 83.65
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Dividend Yield 0.00 0.00 0.00 0.00
Dividend Payout Ratio 50.78 44.98 48.49 46.43

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 137,447,000.00 129,706,100.00 174,175,700.00 196,780,300.00
   Current Assets 103,033,500.00 94,890,200.00 139,078,300.00 161,761,800.00
      Cash and Short-Term Investments 3,005,600.00 3,023,700.00 2,816,100.00 2,949,900.00
            Cash and Cash Equivalents 2,892,400.00 2,912,000.00 2,720,100.00 2,834,900.00
            Short-Term Investments 113,200.00 111,700.00 96,000.00 115,000.00
      Net Receivables 573,100.00 535,600.00 483,200.00 434,500.00
      Inventory 0 0 0 0
      Other Current Assets 99,454,800.00 91,330,900.00 135,779,000.00 158,377,400.00
   Non-Current Assets 34,413,500.00 34,815,900.00 35,097,400.00 35,018,500.00
      Property, Plant, Equipment Net 386,200.00 409,500.00 455,500.00 505,300.00
      Goodwill 10,486,900.00 10,495,300.00 10,482,500.00 10,528,000.00
      Intangible Assets 19,996,900.00 20,225,500.00 20,445,000.00 20,707,300.00
      Long-Term Investments 0 0 0 0
      Non-Current Deferred Assets 0 0 0 0
      Other Non-Current Assets 3,543,500.00 3,685,600.00 3,714,400.00 3,277,900.00
Liabilities 110,960,100.00 102,968,200.00 147,297,000.00 169,381,000.00
   Current Liabilities 102,313,900.00 93,416,900.00 137,687,500.00 160,398,400.00
      Payables and Expenses 79,900.00 90,600.00 121,400.00 48,800.00
            Account Payables 79,900.00 90,600.00 121,400.00 48,800.00
            Current Accrued Liabilities 0 0 0 0
      Short-Term Debt 749,800.00 0 16,000.00 749,400.00
      Other Current Liabilities 101,484,200.00 0 137,550,100.00 159,600,200.00
   Non-Current Liabilities 8,646,200.00 9,551,300.00 9,609,500.00 8,982,600.00
      Long-Term Debt 2,678,200.00 3,425,400.00 3,422,400.00 2,695,700.00
      Other Non-Current Liabilities 5,968,000.00 6,125,900.00 6,187,100.00 6,286,900.00
Equity 26,486,900.00 26,737,900.00 26,878,700.00 27,399,300.00
   Shareholders Equity 26,486,900.00 26,737,900.00 26,878,700.00 27,399,300.00
      Capital Stock 3,600.00 3,600.00 3,600.00 3,600.00
      Share Premium 22,403,000.00 22,334,700.00 22,261,600.00 22,190,300.00
      Retained Earnings 4,185,800.00 4,455,200.00 4,746,800.00 5,151,900.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income -105,500.00 -55,600.00 -133,300.00 53,500.00
   Minority Interest 0 0 0 0
Debt 3,428,000.00 3,425,400.00 3,438,400.00 3,445,100.00
Net Debt 535,600.00 513,400.00 718,300.00 610,200.00
Common Shares Outstanding 359,605.14 359,234.14 358,932.10 358,602.10
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 6,130,100.00 5,578,900.00 5,019,400.00 4,689,700.00
Cost Of Revenue 850,300.00 828,600.00 753,100.00 837,000.00
Interest Expense 160,900.00 159,400.00 162,700.00 166,900.00
Non-Interest Expense 132,700.00 144,400.00 137,400.00 151,700.00
Gross Profit 5,279,800.00 4,750,300.00 4,266,300.00 3,852,700.00
Operating Expenses 1,348,300.00 1,314,600.00 1,250,400.00 1,207,500.00
   Selling, General and Administrative Expenses 132,700.00 144,400.00 137,400.00 151,700.00
   Other Operating Expenses 878,800.00 817,600.00 750,400.00 670,400.00
Operating Income 3,931,500.00 3,435,700.00 3,015,900.00 2,645,200.00
Net Non-Operating Income -3,659,200.00 -4,694,900.00 -1,862,400.00 342,600.00
EBT 4,541,400.00 4,153,600.00 3,490,300.00 3,373,600.00
Income Tax 1,015,600.00 927,400.00 799,300.00 736,700.00
Net Income Including Non-Controlling Interests 3,525,800.00 3,226,200.00 2,691,000.00 2,636,900.00
Net Income Non-Controlling Interests 0 0 0 500.00
Net Income 3,481,500.00 3,185,600.00 2,657,200.00 2,617,100.00
EBIT 4,702,300.00 4,313,000.00 3,653,000.00 3,540,500.00
Deprecation and Amortization 336,800.00 352,600.00 362,600.00 385,400.00
EBITDA 5,039,100.00 4,665,600.00 4,015,600.00 3,925,900.00
EPS 0.01 0.01 0.01 0.01
Diluted EPS 0.01 0.01 0.01 0.01
Average Shares Outstanding Basic 359,389.00 359,023.00 358,713.00 358,340.00
Average Shares Outstanding Diluted 359,944.00 359,500.00 359,181.00 358,929.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 3,690,500.00 3,453,800.00 3,056,000.00 2,402,400.00
   Operating Net Income 3,525,800.00 3,226,200.00 2,691,000.00 2,636,900.00
   Deprecation and Amortization 336,800.00 352,600.00 362,600.00 385,400.00
   Deferred Income Tax -66,400.00 -75,000.00 -23,200.00 34,800.00
   Share Based Compensation 89,500.00 82,900.00 84,300.00 75,200.00
   Change in Working Capital -188,600.00 -95,200.00 -95,200.00 -161,800.00
   Other Operating Activities -6,600.00 -37,700.00 36,500.00 -568,100.00
Investing Cash Flow -82,600.00 20,900.00 -489,800.00 58,400.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE -94,000.00 -76,400.00 -89,700.00 -87,900.00
   Net Purchase/Sale of Investments Net 1,500.00 1,800.00 1,900.00 1,600.00
   Net Purchase/Sale of Business 9,900.00 95,500.00 -402,000.00 144,700.00
   Other Investing Activities 0.00 0.00 0.00 0.00
Financing Cash Flow 5,076,500.00 -48,339,300.00 -25,381,700.00 69,908,700.00
   Net Issuance/Repayment of Debt 0 -16,400.00 -15,200.00 0
   Net Issuance/Repurchase of Equity 0 0 0 965,000.00
   Dividends Paid -3,584,200.00 -3,235,500.00 -2,633,500.00 -2,189,300.00
   Other Financing Activities 0 -45,087,400.00 -22,733,000.00 71,133,000.00
Net Change in Cash 8,684,400.00 -44,864,600.00 -22,815,500.00 72,369,500.00
   Cash at Beginning of Period 93,109,700.00 137,974,300.00 160,789,800.00 88,420,300.00
   Cash at End of Period 101,794,100.00 93,109,700.00 137,974,300.00 160,789,800.00
Free Cash Flow 3,596,500.00 3,377,400.00 2,966,300.00 2,275,200.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Assets 187,144,600.00 179,907,000.00 157,831,600.00 137,447,000.00 137,795,100.00 132,053,700.00 166,039,200.00 205,917,700.00 160,652,100.00
   Current Assets 152,800,800.00 145,450,100.00 123,445,400.00 103,033,500.00 103,142,800.00 97,307,700.00 131,031,700.00 171,004,300.00 126,745,500.00
      Cash and Short-Term Investments 2,570,000.00 2,098,900.00 1,519,200.00 3,005,600.00 2,434,400.00 1,557,900.00 1,670,200.00 2,155,300.00 1,041,600.00
            Cash and Cash Equivalents 2,446,800.00 1,981,300.00 1,405,300.00 2,892,400.00 2,322,100.00 1,436,900.00 1,565,200.00 2,045,700.00 936,400.00
            Short-Term Investments 123,200.00 117,600.00 113,900.00 113,200.00 112,300.00 121,000.00 105,000.00 109,600.00 105,200.00
      Net Receivables 642,900.00 667,600.00 121,464,700.00 573,100.00 629,400.00 95,102,100.00 128,814,300.00 168,345,600.00 123,961,000.00
      Inventory 0 0 0 0 0 0 0 0 0
      Other Current Assets 149,587,900.00 142,683,600.00 461,500.00 99,454,800.00 100,079,000.00 647,700.00 547,200.00 503,400.00 1,742,900.00
   Non-Current Assets 34,343,800.00 34,456,900.00 34,386,200.00 34,413,500.00 34,652,300.00 34,746,000.00 35,007,500.00 34,913,400.00 33,906,600.00
      Property, Plant, Equipment Net 355,200.00 362,900.00 595,600.00 386,200.00 386,200.00 660,500.00 741,400.00 832,700.00 915,100.00
      Goodwill 10,514,500.00 10,523,900.00 10,499,500.00 10,486,900.00 10,514,100.00 10,489,600.00 10,490,500.00 10,515,800.00 10,534,300.00
      Intangible Assets 19,843,100.00 19,903,800.00 2,773,200.00 19,996,900.00 20,067,500.00 2,990,000.00 3,217,400.00 3,463,200.00 3,716,800.00
      Long-Term Investments 0 0 1,200,000.00 0 0 0 0 0 0
      Non-Current Deferred Assets 0 0 0 0 0 0 0 0 0
      Other Non-Current Assets 3,631,000.00 3,666,300.00 19,317,900.00 3,543,500.00 3,684,500.00 20,605,900.00 20,558,200.00 20,101,700.00 18,740,400.00
Liabilities 158,954,300.00 152,168,000.00 130,800,900.00 110,960,100.00 109,578,900.00 104,899,500.00 138,654,800.00 178,180,900.00 134,096,200.00
   Current Liabilities 149,587,200.00 142,794,800.00 121,420,200.00 102,313,900.00 100,821,800.00 96,101,400.00 129,043,900.00 168,458,600.00 124,222,500.00
      Payables and Expenses 74,900.00 92,300.00 100,200.00 79,900.00 129,900.00 111,000.00 97,200.00 80,800.00 51,600.00
            Account Payables 74,900.00 92,300.00 100,200.00 79,900.00 129,900.00 111,000.00 97,200.00 80,800.00 51,600.00
            Current Accrued Liabilities 0 0 0 0 0 0 0 0 0
      Short-Term Debt 0 0 0 749,800.00 749,700.00 749,300.00 16,300.00 0 47,300.00
      Other Current Liabilities 0 0 121,320,000.00 101,484,200.00 99,942,200.00 95,241,100.00 128,930,400.00 168,377,800.00 124,123,600.00
   Non-Current Liabilities 9,367,100.00 9,373,200.00 9,380,700.00 8,646,200.00 8,757,100.00 8,798,100.00 9,610,900.00 9,722,300.00 9,873,700.00
      Long-Term Debt 3,421,300.00 3,420,400.00 3,419,400.00 2,678,200.00 2,677,700.00 2,676,700.00 3,423,100.00 3,437,100.00 3,443,600.00
      Other Non-Current Liabilities 5,945,800.00 5,952,800.00 5,961,300.00 5,968,000.00 6,079,400.00 6,121,400.00 6,187,800.00 6,285,200.00 6,430,100.00
Equity 28,190,300.00 27,739,000.00 27,030,700.00 26,486,900.00 28,216,200.00 27,154,200.00 27,384,400.00 27,736,800.00 26,555,900.00
   Shareholders Equity 28,190,300.00 27,739,000.00 27,030,700.00 26,486,900.00 28,216,200.00 27,154,200.00 27,384,400.00 27,736,800.00 26,527,900.00
      Capital Stock 3,600.00 3,600.00 0 3,600.00 3,600.00 0 3,600.00 3,600.00 3,600.00
      Share Premium 22,436,900.00 22,435,100.00 22,416,000.00 22,403,000.00 22,375,300.00 22,345,600.00 22,281,500.00 22,206,300.00 21,193,500.00
      Retained Earnings 5,706,400.00 5,254,900.00 4,685,900.00 4,185,800.00 5,848,200.00 4,891,100.00 5,229,900.00 5,498,900.00 5,247,300.00
      Treasury Shares 0 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income 43,400.00 45,400.00 -74,800.00 -105,500.00 -10,900.00 -86,100.00 -130,600.00 28,000.00 83,500.00
   Minority Interest 0 0 0 0 0 0 0 0 28,000.00
Investments 0 0 113,900.00 0 0 121,000.00 105,000.00 109,600.00 105,200.00
Debt 3,421,300.00 3,420,400.00 3,419,400.00 3,428,000.00 3,427,400.00 3,426,000.00 3,439,400.00 3,437,100.00 3,443,600.00
Net Debt 974,500.00 1,439,100.00 1,900,200.00 535,600.00 1,105,300.00 1,868,100.00 1,769,200.00 1,281,800.00 2,402,000.00
Common Shares Outstanding 359,852.14 359,650.14 0 359,605.14 359,562.14 0 0 0 0
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Revenues 1,537,600.00 1,692,000.00 1,642,300.00 1,525,300.00 1,584,400.00 1,487,900.00 1,441,600.00 1,346,600.00 1,253,300.00
Cost Of Revenue 237,600.00 221,600.00 0 220,800.00 218,800.00 0 0 0 0
Interest Expense 44,000.00 44,000.00 41,700.00 40,700.00 40,200.00 39,900.00 39,900.00 42,500.00 41,500.00
Non-Interest Expense 36,700.00 37,400.00 0 33,900.00 31,000.00 0 0 0 0
Gross Profit 1,300,000.00 1,470,400.00 0 1,304,500.00 1,365,600.00 0 0 0 0
Operating Expenses 327,400.00 341,100.00 0 357,400.00 341,400.00 0 0 0 0
   Selling, General and Administrative Expenses 36,700.00 37,400.00 94,200.00 33,900.00 31,000.00 92,500.00 89,600.00 77,700.00 85,600.00
   Other Operating Expenses 208,100.00 220,300.00 0 240,100.00 226,500.00 0 0 0 0
Operating Income 972,600.00 1,129,300.00 1,108,000.00 947,100.00 1,024,200.00 959,600.00 913,700.00 859,100.00 725,100.00
Net Non-Operating Income -1,396,600.00 -1,372,400.00 136,800.00 -837,500.00 -920,000.00 153,800.00 243,200.00 57,200.00 27,200.00
EBT 1,177,000.00 1,330,300.00 1,244,800.00 1,096,600.00 1,176,900.00 1,113,400.00 1,156,900.00 916,300.00 752,300.00
Income Tax 269,000.00 305,200.00 288,600.00 222,000.00 264,100.00 258,200.00 273,100.00 205,300.00 177,500.00
Equity Method Investments Income 0 0 88,200.00 0 0 87,200.00 78,200.00 73,300.00 56,200.00
Net Income Including Non-Controlling Interests 908,000.00 1,025,100.00 956,200.00 874,600.00 912,800.00 855,200.00 883,800.00 711,000.00 574,800.00
Net Income Non-Controlling Interests 0 0 -12,000.00 0 0 -10,800.00 -11,100.00 0.00 -400.00
Net Income 896,600.00 1,012,200.00 944,200.00 863,700.00 901,300.00 844,400.00 872,700.00 711,000.00 574,400.00
EBIT 1,221,000.00 1,374,300.00 1,286,500.00 1,137,300.00 1,217,100.00 1,153,300.00 1,196,800.00 958,800.00 793,800.00
Deprecation and Amortization 82,600.00 83,400.00 82,500.00 83,400.00 83,900.00 85,300.00 88,700.00 91,900.00 98,200.00
EBITDA 1,303,600.00 1,457,700.00 1,369,000.00 1,220,700.00 1,301,000.00 1,238,600.00 1,285,500.00 1,050,700.00 892,000.00
EPS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Diluted EPS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Average Shares Outstanding Basic 359,686.00 359,658.00 359,613.00 359,568.00 359,400.00 359,258.00 358,933.00 358,609.00 358,147.00
Average Shares Outstanding Diluted 360,422.00 360,355.00 360,227.00 360,050.00 359,989.00 359,833.00 359,313.00 359,180.00 358,817.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Operating Cash Flow 968,100.00 1,058,500.00 1,116,600.00 1,017,900.00 1,003,000.00 892,700.00 902,400.00 799,100.00 602,700.00
   Operating Net Income 908,000.00 1,025,100.00 956,200.00 874,600.00 912,800.00 855,200.00 883,800.00 711,000.00 574,800.00
   Deprecation and Amortization 82,600.00 83,400.00 82,500.00 83,400.00 83,900.00 85,300.00 88,700.00 91,900.00 98,200.00
   Deferred Income Tax -6,700.00 -13,300.00 -7,400.00 -44,500.00 -7,400.00 -7,400.00 -8,700.00 -5,100.00 -7,800.00
   Share Based Compensation 24,000.00 20,700.00 21,200.00 27,100.00 20,300.00 23,300.00 20,200.00 20,000.00 21,600.00
   Change in Working Capital -14,000.00 -51,700.00 61,000.00 66,900.00 -18,900.00 -64,800.00 -22,700.00 -35,200.00 -98,300.00
   Other Operating Activities -25,800.00 -5,700.00 3,100.00 10,400.00 12,300.00 1,100.00 -58,900.00 16,500.00 14,200.00
Investing Cash Flow -19,100.00 -18,000.00 -16,000.00 -25,300.00 -29,500.00 -22,800.00 -17,200.00 -22,900.00 -34,000.00
   Capital Expenditure 0 0 -14,200.00 0 0 -19,800.00 -15,200.00 -23,400.00 -28,500.00
   Net Purchase/Sale of PPE -18,400.00 -18,400.00 -14,200.00 -26,200.00 -29,800.00 -19,800.00 -15,200.00 -23,400.00 -28,500.00
   Net Purchase/Sale of Investments Net 300.00 400.00 -1,800.00 -12,600.00 300.00 -3,000.00 -2,000.00 500.00 2,200.00
   Net Purchase/Sale of Business -1,000.00 0 0 13,500.00 0 0 0 0 -6,200.00
   Other Investing Activities 0.00 0.00 14,200.00 0.00 0.00 19,800.00 15,200.00 23,400.00 27,000.00
Financing Cash Flow 6,399,700.00 20,999,200.00 19,211,400.00 -984,100.00 13,347,000.00 1,936,400.00 -9,198,500.00 8,221,600.00 -1,233,200.00
   Net Issuance/Repayment of Debt -1,700.00 0 -7,700.00 0 0 4,300.00 0 -13,400.00 0
   Net Issuance/Repurchase of Equity 0 0 0 0 0 0 0 0 0
   Dividends Paid -455,300.00 -455,300.00 2,567,400.00 -418,800.00 -418,500.00 2,328,400.00 2,035,600.00 1,543,500.00 1,217,500.00
   Other Financing Activities 6,856,700.00 0 16,651,700.00 0 0 -396,300.00 -11,234,100.00 6,691,500.00 -2,450,700.00
Net Change in Cash 7,348,700.00 22,039,700.00 20,312,000.00 8,500.00 14,320,500.00 2,806,300.00 -8,313,300.00 8,997,800.00 -664,500.00
   Cash at Beginning of Period 144,145,800.00 122,106,100.00 101,794,100.00 101,785,600.00 87,465,100.00 93,109,700.00 137,974,300.00 160,789,900.00 1,638,500.00
   Cash at End of Period 151,494,500.00 144,145,800.00 122,106,100.00 101,794,100.00 101,785,600.00 95,916,000.00 129,661,000.00 169,787,700.00 974,000.00
Free Cash Flow 949,700.00 1,040,100.00 1,102,400.00 991,700.00 973,200.00 872,900.00 887,200.00 775,700.00 574,200.00