CMRE
Valuation Ratios
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Price to Earnings | 5.27 | 3.53 | 2.18 | 3.86 |
| Price to Sales | 0.74 | 0.83 | 1.02 | 1.96 |
| Book Value Per Common Share | 20.95 | 20.13 | 17.64 | 13.92 |
| Price to Book | 0.61 | 0.52 | 0.53 | 0.91 |
| Price to Operating Cash Flow | 2.85 | 3.78 | 1.96 | 3.34 |
| Price to Free Cash Flow | 5.96 | 25.53 | 2.20 | -2.96 |
| Enterprise Value to EBITDA | 24869.21 | 17624.62 | 13707.81 | 24378.54 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Price to Earnings | 15.47 | 12.46 | 51.40 | ||
| Price to Sales | 6.36 | -200.66 | 2.65 | 2.81 | 8.34 |
| Book Value Per Common Share | 16.82 | 16.20 | 21.56 | 20.95 | 20.79 |
| Price to Book | 0.71 | 0.56 | 0.46 | 0.61 | 0.76 |
| Price to Operating Cash Flow | 10.56 | 7.43 | 8.25 | 11.94 | 15.22 |
| Price to Free Cash Flow | 46.31 | 140.80 | 8.60 | 63.84 | 29.01 |
| Enterprise Value to EBITDA | 93135.73 | 69988.53 | 69071.37 | 146593.08 | 136400.80 |
Earnings Data
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Earning YoY | -17.29 | -30.75 | 29.88 | |
| Revenue YoY | 37.88 | 35.69 | 40.35 | |
| EBITDA YoY | -11.36 | -15.55 | 28.70 | |
| Net Profit YoY | -18.05 | -32.30 | 29.66 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Earning YoY | 216.00 | ||||
| Revenue YoY | -18.63 | 142.93 | |||
| EBITDA YoY | -1.63 | -8.51 | 62.74 | -23.84 | |
| Net Profit YoY | 11.05 | -12.22 | 219.46 | -60.59 |
Financial Strength
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Cash Per Common Share | 6.42 | 6.76 | 6.82 | 2.24 |
| Quick Ratio | 1.13 | 1.35 | 2.09 | 0.83 |
| Current Ratio | 1.40 | 1.69 | 2.40 | 1.15 |
| Debt to Equity | 1.00 | 1.17 | 1.27 | 1.55 |
| Long-Term Debt to Equity | 0.71 | 0.90 | 1.07 | 1.34 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Cash Per Common Share | 4.64 | 4.25 | 6.83 | 6.40 | 7.23 |
| Quick Ratio | 1.48 | 1.46 | 1.23 | 1.13 | 1.36 |
| Current Ratio | 1.68 | 1.68 | 1.55 | 1.40 | 1.65 |
| Debt to Equity | 0.84 | 0.85 | 0.94 | 1.00 | 1.06 |
| Long-Term Debt to Equity | 0.65 | 0.67 | 0.66 | 0.71 | 0.78 |
Profitability
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| ROA | 5.65 | 6.71 | 10.70 | 9.17 |
| ROE | 11.32 | 14.54 | 24.25 | 23.41 |
| Gross Margin | 26.71 | 28.88 | 53.93 | 55.68 |
| Operating Margin | 21.90 | 35.27 | 59.42 | 63.87 |
| EBITDA Margin | 29.75 | 46.27 | 74.34 | 81.08 |
| Net Profit Margin | 13.95 | 23.47 | 47.03 | 50.91 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| ROA | 2.40 | 2.23 | 1.85 | 0.58 | 1.44 |
| ROE | 4.41 | 4.13 | 3.59 | 1.16 | 2.96 |
| Gross Margin | 57.47 | 30.27 | 28.35 | 61.61 | |
| Operating Margin | 53.89 | 29.01 | 11.62 | 61.17 | |
| EBITDA Margin | 68.40 | 38.35 | 19.18 | 61.17 | |
| Net Profit Margin | 41.13 | 21.29 | 5.42 | 33.43 |
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 | 25.51 | 20.26 | 22.82 | 17.64 |
| 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 | 21.29 | 23.61 | 21.08 | 66.14 | 24.94 |
Financial Statements
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Assets | 5,148,687.00 | 5,287,022.00 | 4,896,229.00 | 4,407,041.00 |
| Current Assets | 1,040,216.00 | 1,117,661.00 | 1,014,622.00 | 426,124.00 |
| Cash and Short-Term Investments | 766,441.00 | 813,018.00 | 838,063.00 | 276,002.00 |
| Cash and Cash Equivalents | 704,633.00 | 745,544.00 | 718,049.00 | 276,002.00 |
| Short-Term Investments | 61,808.00 | 67,474.00 | 120,014.00 | 0 |
| Net Receivables | 75,333.00 | 83,013.00 | 47,076.00 | 32,309.00 |
| Inventory | 57,656.00 | 61,266.00 | 28,039.00 | 21,365.00 |
| Other Current Assets | 140,786.00 | 160,364.00 | 101,444.00 | 96,448.00 |
| Non-Current Assets | 4,108,471.00 | 4,169,361.00 | 3,881,607.00 | 3,980,917.00 |
| Property, Plant, Equipment Net | 3,722,805.00 | 3,770,406.00 | 3,666,861.00 | 3,841,495.00 |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 74.00 | 269.00 | 468.00 | 667.00 |
| Long-Term Investments | 228,822.00 | 211,708.00 | 20,971.00 | 19,872.00 |
| Non-Current Deferred Assets | 71,807.00 | 72,801.00 | 55,035.00 | 31,859.00 |
| Other Non-Current Assets | 84,963.00 | 114,177.00 | 138,272.00 | 87,024.00 |
| Liabilities | 2,580,081.00 | 2,847,633.00 | 2,735,792.00 | 2,681,142.00 |
| Current Liabilities | 745,560.00 | 662,770.00 | 423,090.00 | 370,027.00 |
| Payables and Expenses | 88,143.00 | 89,462.00 | 72,038.00 | 47,863.00 |
| Account Payables | 49,425.00 | 46,769.00 | 18,155.00 | 18,865.00 |
| Current Accrued Liabilities | 31,885.00 | 39,521.00 | 51,551.00 | 27,304.00 |
| Short-Term Debt | 546,914.00 | 510,704.00 | 320,114.00 | 289,041.00 |
| Other Current Liabilities | 110,503.00 | 62,604.00 | 30,938.00 | 33,123.00 |
| Non-Current Liabilities | 1,834,521.00 | 2,184,863.00 | 2,312,702.00 | 2,311,115.00 |
| Long-Term Debt | 1,803,628.00 | 2,137,133.00 | 2,264,507.00 | 2,269,407.00 |
| Other Non-Current Liabilities | 30,893.00 | 47,730.00 | 48,195.00 | 41,708.00 |
| Equity | 2,568,606.00 | 2,439,389.00 | 2,160,437.00 | 1,725,899.00 |
| Shareholders Equity | 2,513,514.00 | 2,382,531.00 | 2,156,950.00 | 1,725,899.00 |
| Capital Stock | 13.00 | 13.00 | 12.00 | 12.00 |
| Share Premium | 1,336,646.00 | 1,435,294.00 | 1,423,954.00 | 1,386,636.00 |
| Retained Earnings | 1,279,605.00 | 1,045,932.00 | 746,658.00 | 341,482.00 |
| Treasury Shares | 120,095.00 | 120,095.00 | 60,095.00 | 0 |
| Accumulated Other Comprehensive Income | 17,345.00 | 21,387.00 | 46,421.00 | -2,231.00 |
| Minority Interest | 55,092.00 | 56,858.00 | 3,487.00 | 0 |
| Debt | 2,350,542.00 | 2,647,837.00 | 2,584,621.00 | 2,558,448.00 |
| Net Debt | 1,329,436.00 | 1,600,676.00 | 1,866,572.00 | 2,166,081.00 |
| Common Shares Outstanding | 119,954.43 | 118,374.62 | 122,301.71 | 123,985.10 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Revenues | 2,083,894.00 | 1,511,406.00 | 1,113,859.00 | 793,639.00 |
| Cost Of Revenue | 1,527,233.00 | 1,074,985.00 | 513,202.00 | 351,772.00 |
| Interest Income | 33,185.00 | 32,447.00 | 5,956.00 | 1,587.00 |
| Interest Expense | 139,957.00 | 152,123.00 | 107,205.00 | 71,796.00 |
| Non-Interest Expense | 33,467.00 | 24,216.00 | 19,529.00 | 16,819.00 |
| Gross Profit | 556,661.00 | 436,421.00 | 600,657.00 | 441,867.00 |
| Operating Expenses | 92,748.00 | 80,470.00 | 66,264.00 | 46,440.00 |
| Selling, General and Administrative Expenses | 33,467.00 | 24,216.00 | 19,529.00 | 16,819.00 |
| Other Operating Expenses | 59,281.00 | 56,254.00 | 46,735.00 | 29,621.00 |
| Operating Income | 463,913.00 | 355,951.00 | 534,393.00 | 395,427.00 |
| Net Non-Operating Income | 2,873.00 | 6,941.00 | 3,729.00 | 4,624.00 |
| EBT | 316,334.00 | 381,019.00 | 554,692.00 | 435,121.00 |
| Income Tax | 0 | 0 | 0 | 0 |
| Net Income Including Non-Controlling Interests | 316,334.00 | 381,019.00 | 554,692.00 | 435,121.00 |
| Net Income Non-Controlling Interests | 3,585.00 | 4,730.00 | 263.00 | 0 |
| Net Income | 290,677.00 | 354,681.00 | 523,887.00 | 404,053.00 |
| EBIT | 456,291.00 | 533,142.00 | 661,897.00 | 506,917.00 |
| Deprecation and Amortization | 163,581.00 | 166,143.00 | 166,196.00 | 136,534.00 |
| EBITDA | 619,872.00 | 699,285.00 | 828,093.00 | 643,451.00 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 |
| Diluted EPS | 0.00 | 0.00 | 0.00 | 0.00 |
| Average Shares Outstanding Basic | 119,299.40 | 120,299.17 | 122,964.36 | 123,070.73 |
| Average Shares Outstanding Diluted | 119,299.40 | 120,299.17 | 122,964.36 | 123,070.73 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Operating Cash Flow | 537,716.00 | 331,368.00 | 581,593.00 | 466,494.00 |
| Operating Net Income | 316,334.00 | 381,019.00 | 554,692.00 | 435,121.00 |
| Deprecation and Amortization | 163,581.00 | 166,143.00 | 166,196.00 | 136,534.00 |
| Deferred Income Tax | 0 | 0 | 0 | 0 |
| Share Based Compensation | 8,427.00 | 5,850.00 | 7,089.00 | 7,414.00 |
| Change in Working Capital | -22,539.00 | -140,036.00 | -41,590.00 | -16,810.00 |
| Other Operating Activities | 71,913.00 | -81,608.00 | -104,794.00 | -95,765.00 |
| Investing Cash Flow | -79,507.00 | 79,093.00 | 42,488.00 | -787,456.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | -90,777.00 | -39,259.00 | 158,423.00 | -869,457.00 |
| Net Purchase/Sale of Investments Net | -81.00 | 106,140.00 | -118,718.00 | 72,146.00 |
| Net Purchase/Sale of Business | 262.00 | 4,449.00 | 14.00 | 8,820.00 |
| Other Investing Activities | 11,089.00 | 7,763.00 | 2,769.00 | 1,035.00 |
| Financing Cash Flow | -505,477.00 | -396,815.00 | -166,051.00 | 482,594.00 |
| Net Issuance/Repayment of Debt | -313,972.00 | -255,962.00 | 29,971.00 | 569,997.00 |
| Net Issuance/Repurchase of Equity | -114,353.00 | -60,000.00 | -60,095.00 | 0 |
| Dividends Paid | -74,147.00 | -71,867.00 | -119,548.00 | -71,263.00 |
| Other Financing Activities | -3,005.00 | -8,986.00 | -16,379.00 | -16,140.00 |
| Net Change in Cash | -47,268.00 | 13,646.00 | 458,030.00 | 161,632.00 |
| Cash at Beginning of Period | 825,204.00 | 811,558.00 | 353,528.00 | 191,896.00 |
| Cash at End of Period | 777,936.00 | 825,204.00 | 811,558.00 | 353,528.00 |
| Free Cash Flow | 257,233.00 | 49,042.00 | 519,698.00 | -525,599.00 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Assets | 3,860,967.00 | 3,739,101.00 | 5,127,810.00 | 5,148,687.00 | 5,244,376.00 |
| Current Assets | 663,827.00 | 618,925.00 | 1,122,436.00 | 1,040,216.00 | 1,160,713.00 |
| Cash and Short-Term Investments | 558,456.00 | 510,670.00 | 818,802.00 | 766,441.00 | 866,192.00 |
| Cash and Cash Equivalents | 505,044.00 | 442,703.00 | 767,830.00 | 704,633.00 | 798,751.00 |
| Short-Term Investments | 53,412.00 | 67,967.00 | 50,972.00 | 61,808.00 | 67,441.00 |
| Net Receivables | 26,485.00 | 28,877.00 | 70,086.00 | 75,333.00 | 94,156.00 |
| Inventory | 14,698.00 | 14,132.00 | 56,060.00 | 57,656.00 | 61,488.00 |
| Other Current Assets | 64,188.00 | 65,246.00 | 177,488.00 | 140,786.00 | 138,877.00 |
| Non-Current Assets | 3,197,140.00 | 3,120,176.00 | 4,005,374.00 | 4,108,471.00 | 4,083,663.00 |
| Property, Plant, Equipment Net | 2,755,398.00 | 2,696,520.00 | 3,633,888.00 | 3,722,805.00 | 3,685,337.00 |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 7.00 | 31.00 | 74.00 | 122.00 |
| Long-Term Investments | 330,809.00 | 313,328.00 | 221,934.00 | 228,822.00 | 225,609.00 |
| Non-Current Deferred Assets | 49,973.00 | 48,857.00 | 70,163.00 | 71,807.00 | 73,398.00 |
| Other Non-Current Assets | 0 | 61,464.00 | 79,358.00 | 84,963.00 | 99,197.00 |
| Liabilities | 1,762,988.00 | 1,719,981.00 | 2,483,319.00 | 2,580,081.00 | 2,698,871.00 |
| Current Liabilities | 394,565.00 | 369,179.00 | 724,871.00 | 745,560.00 | 704,605.00 |
| Payables and Expenses | 33,752.00 | 33,371.00 | 83,590.00 | 88,143.00 | 104,905.00 |
| Account Payables | 8,326.00 | 10,609.00 | 42,653.00 | 49,425.00 | 65,892.00 |
| Current Accrued Liabilities | 18,940.00 | 17,408.00 | 31,947.00 | 31,885.00 | 34,795.00 |
| Short-Term Debt | 272,074.00 | 282,229.00 | 550,157.00 | 546,914.00 | 522,249.00 |
| Other Current Liabilities | 88,739.00 | 53,579.00 | 91,124.00 | 110,503.00 | 77,451.00 |
| Non-Current Liabilities | 1,368,423.00 | 1,350,802.00 | 1,758,448.00 | 1,834,521.00 | 1,994,266.00 |
| Long-Term Debt | 1,310,196.00 | 1,306,520.00 | 1,727,849.00 | 1,803,628.00 | 1,956,190.00 |
| Other Non-Current Liabilities | 58,227.00 | 44,282.00 | 30,599.00 | 30,893.00 | 38,076.00 |
| Equity | 2,097,979.00 | 2,019,120.00 | 2,644,491.00 | 2,568,606.00 | 2,545,505.00 |
| Shareholders Equity | 2,025,829.00 | 1,948,048.00 | 2,589,819.00 | 2,513,514.00 | 2,490,546.00 |
| Capital Stock | 13.00 | 13.00 | 13.00 | 13.00 | 13.00 |
| Share Premium | 1,330,946.00 | 1,329,535.00 | 1,338,198.00 | 1,336,646.00 | 1,341,777.00 |
| Retained Earnings | 809,968.00 | 731,120.00 | 1,360,708.00 | 1,279,605.00 | 1,263,640.00 |
| Treasury Shares | 120,095.00 | 120,095.00 | 120,095.00 | 120,095.00 | 120,095.00 |
| Accumulated Other Comprehensive Income | 4,997.00 | 7,475.00 | 10,995.00 | 17,345.00 | 5,211.00 |
| Minority Interest | 72,150.00 | 71,072.00 | 54,672.00 | 55,092.00 | 54,959.00 |
| Debt | 1,582,270.00 | 1,588,749.00 | 2,278,006.00 | 2,350,542.00 | 2,478,439.00 |
| Net Debt | 1,077,226.00 | 1,146,046.00 | 1,233,743.00 | 1,329,436.00 | 1,375,960.00 |
| Common Shares Outstanding | 120,427.39 | 120,269.32 | 120,111.09 | 119,954.43 | 119,798.58 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 |
|---|---|---|---|---|---|---|---|
| Revenues | 225,168.00 | -5,466.00 | 446,226.00 | 548,403.00 | 225,745.00 | 0 | 0 |
| Cost Of Revenue | 95,763.00 | -129,763.00 | 311,158.00 | 392,929.00 | 86,656.00 | 0 | 0 |
| Interest Income | 3,741.00 | 5,298.00 | 6,481.00 | 6,989.00 | 8,304.00 | 0 | 0 |
| Interest Expense | 21,991.00 | 17,511.00 | 28,614.00 | 31,809.00 | 26,961.00 | 0 | 0 |
| Non-Interest Expense | 3,959.00 | 1,273.00 | 8,802.00 | 8,261.00 | 7,352.00 | 0 | 0 |
| Gross Profit | 129,405.00 | 124,297.00 | 135,068.00 | 155,474.00 | 139,089.00 | 0 | 0 |
| Operating Expenses | 11,297.00 | 1,455.00 | 22,798.00 | 22,263.00 | 14,551.00 | 0 | 0 |
| Selling, General and Administrative Expenses | 3,959.00 | 1,273.00 | 8,802.00 | 8,261.00 | 7,352.00 | 0 | 0 |
| Other Operating Expenses | 7,338.00 | 182.00 | 13,996.00 | 14,002.00 | 7,199.00 | 0 | 0 |
| Operating Income | 118,108.00 | 122,842.00 | 112,270.00 | 133,211.00 | 124,538.00 | 0 | 0 |
| Net Non-Operating Income | 673.00 | -36.00 | 63.00 | 588.00 | 92.00 | 0 | 0 |
| EBT | 99,351.00 | 117,203.00 | 100,843.00 | 31,916.00 | 111,117.00 | 0 | 0 |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income Including Non-Controlling Interests | 99,351.00 | 89,656.00 | 100,843.00 | 31,916.00 | 78,871.00 | 0 | 0 |
| Net Income Non-Controlling Interests | -1,442.00 | -962.00 | -715.00 | 3,056.00 | 1,880.00 | 0 | 0 |
| Net Income | 92,621.00 | 83,406.00 | 95,014.00 | 29,742.00 | 75,463.00 | 0 | 0 |
| EBIT | 121,342.00 | 134,714.00 | 129,457.00 | 63,725.00 | 138,078.00 | 0 | 0 |
| Deprecation and Amortization | 32,669.00 | 21,849.00 | 41,676.00 | 41,435.00 | 41,246.00 | 0 | 0 |
| EBITDA | 154,011.00 | 156,563.00 | 171,133.00 | 105,160.00 | 138,078.00 | 0 | 0 |
| EPS | 0.00 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| Diluted EPS | 0.00 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| Average Shares Outstanding Basic | 120,276.11 | 0 | 119,960.33 | 119,805.64 | 0 | 119,176.55 | 118,628.89 |
| Average Shares Outstanding Diluted | 120,276.11 | 0 | 119,960.33 | 119,805.64 | 0 | 119,176.55 | 118,628.89 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Operating Cash Flow | 135,621.00 | 147,520.00 | 143,082.00 | 128,935.00 | 123,741.00 |
| Operating Net Income | 99,351.00 | 117,203.00 | 100,843.00 | 31,916.00 | 78,871.00 |
| Deprecation and Amortization | 32,669.00 | 21,849.00 | 41,676.00 | 41,435.00 | 41,246.00 |
| Deferred Income Tax | 0 | 0 | 0 | 0 | 0 |
| Share Based Compensation | 1,782.00 | 1,363.00 | 1,472.00 | 1,919.00 | 2,352.00 |
| Change in Working Capital | -5,424.00 | -12,367.00 | 11,736.00 | -11,335.00 | -13,769.00 |
| Other Operating Activities | 7,243.00 | 19,472.00 | -12,645.00 | 65,000.00 | 15,041.00 |
| Investing Cash Flow | -44,499.00 | -99,325.00 | 1,481.00 | -70,662.00 | 9,110.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | -63,517.00 | -109,733.00 | 1,724.00 | -72,292.00 | 1,081.00 |
| Net Purchase/Sale of Investments Net | 18,991.00 | 0 | 0 | -1.00 | 0 |
| Net Purchase/Sale of Business | -436.00 | -433.00 | -424.00 | -228.00 | 0 |
| Other Investing Activities | 463.00 | 10,841.00 | 181.00 | 1,859.00 | 8,029.00 |
| Financing Cash Flow | -27,140.00 | -410,669.00 | -54,443.00 | -156,959.00 | -229,710.00 |
| Net Issuance/Repayment of Debt | -6,988.00 | -221,728.00 | -33,983.00 | -135,354.00 | -96,302.00 |
| Net Issuance/Repurchase of Equity | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | -19,720.00 | -19,696.00 | -20,027.00 | -19,672.00 | -18,818.00 |
| Other Financing Activities | 0 | 0 | 0 | -1,933.00 | 0 |
| Net Change in Cash | 63,982.00 | -362,474.00 | 90,120.00 | -98,686.00 | -96,859.00 |
| Cash at Beginning of Period | 505,582.00 | 868,056.00 | 777,936.00 | 876,622.00 | 973,481.00 |
| Cash at End of Period | 569,564.00 | 505,582.00 | 868,056.00 | 777,936.00 | 876,622.00 |
| Free Cash Flow | 30,938.00 | 7,785.00 | 137,276.00 | 24,116.00 | 64,924.00 |