Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings -1.16 8.56 -5.93 -1.70
Price to Sales 0.08 0.05 0.06 0.09
Book Value Per Common Share 139.50 209.19 205.16 183.34
Price to Book 0.08 0.05 0.07 0.14
Price to Operating Cash Flow -1.45 -6.37 -6.60 -1.47
Price to Free Cash Flow -1.37 -4.75 -4.87 -1.21
Enterprise Value to EBITDA
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings 19.79 5.18 -2.83 -2.06 98.45
Price to Sales 0.25 0.19 0.24 0.30 0.31
Book Value Per Common Share 66.40 66.44 65.33 139.50 142.02
Price to Book 0.11 0.10 0.11 0.08 0.08
Price to Operating Cash Flow
Price to Free Cash Flow
Enterprise Value to EBITDA 190055.38 137125.00 91748.64

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY
Revenue YoY -22.78 -22.20 -22.44
EBITDA YoY
Net Profit YoY
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY -69.60
Revenue YoY -14.69 11.28 -16.63 6.86
EBITDA YoY -16.26
Net Profit YoY -70.05

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 132.57 192.53 204.96 200.73
Quick Ratio 3.60 4.79 4.50 3.83
Current Ratio 3.63 4.86 4.54 3.91
Debt to Equity 0.29 0.21 0.24 0.30
Long-Term Debt to Equity 0.00 0.00 0.00 0.01
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 69.56 70.24 64.03 135.44 130.90
Quick Ratio 2.04 1.86 1.66 3.60 3.36
Current Ratio 2.26 2.08 1.88 3.63 3.62
Debt to Equity 0.55 0.60 0.62 0.29 0.28
Long-Term Debt to Equity 0.00 0.00 0.00 0.00 0.00

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA -5.63 0.44 -0.93 -7.13
ROE -7.29 0.53 -1.15 -9.30
Gross Margin 7.58 12.37 13.93 11.89
Operating Margin -8.05 -2.67 -2.99 -7.08
EBITDA Margin -6.59 -0.92 -1.76 -6.11
Net Profit Margin -7.18 0.64 -1.06 -6.35
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA 0.36 1.18 -2.49 -3.18 0.06
ROE 0.57 1.89 -4.04 -4.11 0.08
Gross Margin 12.91 13.47 11.99 6.14 5.72
Operating Margin 1.33 1.35 -2.76 3.24 -8.86
EBITDA Margin 1.33 1.35 -2.76 3.24 -8.86
Net Profit Margin 1.26 3.59 -8.41 -15.24 0.32

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Dividend Yield 0.06
Dividend Payout Ratio -684.94
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 5,446,333.21 8,072,102.83 8,145,366.41 8,156,902.38
   Current Assets 4,469,076.04 6,685,426.76 7,077,183.58 7,229,094.84
      Cash and Short-Term Investments 4,087,522.54 6,156,671.18 6,552,752.80 6,532,760.87
            Cash and Cash Equivalents 1,017,148.14 4,440,131.18 4,041,602.80 4,456,405.87
            Short-Term Investments 3,070,374.40 1,716,540.00 2,511,150.00 2,076,355.00
      Net Receivables 343,110.47 437,527.47 465,515.28 548,900.24
      Inventory 0 0 0 0
      Other Current Assets 38,443.04 91,228.11 58,915.50 147,433.73
   Non-Current Assets 977,257.17 1,386,676.07 1,068,182.83 927,807.54
      Property, Plant, Equipment Net 22,909.46 36,600.38 66,898.62 97,420.21
      Goodwill 0 0 13,804.06 12,636.84
      Intangible Assets 60,917.09 120,694.14 106,723.43 161,540.39
      Long-Term Investments 816,814.69 1,066,197.29 781,911.32 591,424.80
      Non-Current Deferred Assets 0 0 0 0
      Other Non-Current Assets 0 163,184.27 98,845.39 64,785.30
Liabilities 1,236,243.99 1,382,769.84 1,584,806.26 1,898,314.27
   Current Liabilities 1,232,021.26 1,376,069.15 1,558,664.15 1,848,991.19
      Payables and Expenses 907,147.43 980,717.69 1,166,253.75 1,528,886.38
            Account Payables 498,667.44 534,427.67 666,984.79 824,127.77
            Current Accrued Liabilities 173,424.74 184,102.27 224,135.29 385,768.49
      Short-Term Debt 11,457.88 14,767.84 27,479.16 30,417.38
      Other Current Liabilities 313,415.96 380,583.61 364,931.23 289,687.43
   Non-Current Liabilities 4,222.72 6,700.69 26,142.11 49,323.08
      Long-Term Debt 4,222.72 6,700.69 19,571.58 31,278.21
      Other Non-Current Liabilities 0.00 0.00 6,570.53 18,044.87
Equity 4,210,089.23 6,689,332.99 6,560,560.15 6,258,588.11
   Shareholders Equity 4,210,089.23 6,689,332.99 6,560,559.18 6,258,587.12
      Capital Stock 20.36 23.34 23.34 23.04
      Share Premium 7,514,498.34 10,670,286.91 10,670,286.91 10,618,537.93
      Retained Earnings -3,791,817.47 -3,485,007.18 -3,520,524.82 -3,445,102.41
      Treasury Shares 0 911,217.01 911,217.01 802,249.76
      Accumulated Other Comprehensive Income 487,388.00 415,246.94 321,990.77 -112,621.68
   Minority Interest 0 0 0.96 0.99
Debt 15,680.60 21,468.53 47,050.74 61,695.59
Common Shares Outstanding 30,178.86 31,977.67 31,977.67 34,136.63
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 4,270,825.46 5,530,404.56 7,108,238.35 9,165,330.76
Cost Of Revenue 3,946,992.97 4,846,371.26 6,118,128.30 8,075,420.52
Interest Income 263,052.30 284,982.13 129,857.83 77,392.56
Non-Interest Expense 515,569.24 589,482.47 928,112.49 1,328,877.53
Gross Profit 323,832.48 684,033.29 990,110.05 1,089,910.24
Operating Expenses 667,689.84 831,958.76 1,202,667.11 1,738,571.46
   Selling, General and Administrative Expenses 515,569.24 589,482.47 928,112.49 1,328,877.53
   Research and Development Expenses 181,676.08 276,935.54 383,091.12 490,018.94
   Other Operating Expenses -29,555.48 -34,459.24 -108,536.50 -80,325.01
Operating Income -343,857.35 -147,925.47 -212,557.06 -648,661.22
Net Non-Operating Income 21,898.24 -52,873.72 -80,301.14 -33,852.39
EBT -287,402.61 68,197.34 -149,323.04 -605,121.06
Income Tax 15,406.55 1,068.96 3,487.04 0
Net Income Including Non-Controlling Interests -306,810.29 35,517.63 -90,414.60 -620,248.90
Net Income Non-Controlling Interests 0 0 14,992.19 38,365.75
Net Income -306,810.29 35,517.63 -75,422.41 -581,883.15
EBIT -343,857.35 -147,925.47 -212,557.06 -648,661.22
Deprecation and Amortization 62,608.32 96,841.93 87,494.30 88,732.64
EBITDA -281,249.04 -51,083.54 -125,062.75 -559,928.58
EPS -0.01 0.00 -0.00 -0.02
Diluted EPS -0.01 0.00 -0.00 -0.02
Average Shares Outstanding Basic 30,832.27 31,977.67 31,971.24 32,544.88
Average Shares Outstanding Diluted 30,832.27 31,977.67 31,971.24 32,544.88
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow -238,851.94 -47,687.22 -67,833.40 -586,257.77
   Operating Net Income -306,810.29 35,517.63 -90,414.60 -620,248.90
   Deprecation and Amortization 62,608.32 96,841.93 87,494.30 88,732.64
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 0 0 66,741.44 132,139.46
   Change in Working Capital -64,986.26 -329,312.49 -184,295.61 -283,977.17
   Other Operating Activities 70,336.29 149,265.70 52,641.06 97,096.20
Investing Cash Flow -1,074,492.73 414,184.63 -608,617.40 -19,129.25
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE 266.20 -5,053.15 -5,534.81 -6,370.00
   Net Purchase/Sale of Investments Net -1,232,347.10 340,384.20 -526,671.37 209,976.00
   Net Purchase/Sale of Business 0 0 -48,141.00 -107,103.93
   Other Investing Activities 157,588.17 78,853.58 -28,270.22 -115,631.31
Financing Cash Flow -2,206,974.53 -0.96 -108,967.25 -107,151.91
   Net Issuance/Repayment of Debt 0 0 0 0
   Net Issuance/Repurchase of Equity 0 0 0 0
   Dividends Paid -2,101,465.49 0 0 0
   Other Financing Activities 0 0 0 0
Net Change in Cash -3,520,319.19 366,496.44 -785,418.06 -712,538.93
   Cash at Beginning of Period 4,508,990.32 4,047,659.50 4,467,108.59 5,291,777.48
   Cash at End of Period 1,037,411.28 4,508,990.32 4,047,659.50 4,467,108.59
Free Cash Flow -251,973.63 -63,989.94 -91,999.37 -708,762.98
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Assets 3,106,417.00 3,210,057.00 3,202,082.00 5,446,333.21 5,506,137.00
   Current Assets 2,489,598.00 2,500,211.00 2,303,067.00 4,469,076.04 4,397,677.00
      Cash and Short-Term Investments 2,099,234.00 2,119,647.00 1,932,492.00 4,087,522.54 3,957,033.00
            Cash and Cash Equivalents 1,551,938.00 1,535,924.00 1,852,492.00 1,017,148.14 2,013,065.00
            Short-Term Investments 547,296.00 583,723.00 80,000.00 3,070,374.40 1,943,968.00
      Net Receivables 145,569.00 120,669.00 110,786.00 343,110.47 120,195.00
      Inventory 0 0 0 0 0
      Other Current Assets 244,795.00 259,895.00 259,789.00 38,443.04 320,449.00
   Non-Current Assets 616,819.00 709,846.00 899,015.00 977,257.17 1,108,460.00
      Property, Plant, Equipment Net 15,599.00 18,699.00 19,080.00 22,909.46 28,460.00
      Goodwill 0 0 0 0 0
      Intangible Assets 0 45,194.00 52,539.00 60,917.09 124,318.00
      Long-Term Investments 496,728.00 569,885.00 737,744.00 816,814.69 830,595.00
      Non-Current Deferred Assets 0 0 0 0 0
      Other Non-Current Assets 0 0 0 0 125,087.00
Liabilities 1,102,445.00 1,205,026.00 1,230,431.00 1,236,243.99 1,220,180.00
   Current Liabilities 1,100,491.00 1,204,806.00 1,228,089.00 1,232,021.26 1,213,223.00
      Payables and Expenses 846,844.00 945,352.00 966,015.00 907,147.43 919,438.00
            Account Payables 510,475.00 482,746.00 490,049.00 498,667.44 456,988.00
            Current Accrued Liabilities 191,220.00 228,077.00 197,359.00 173,424.74 177,497.00
      Short-Term Debt 7,796.00 12,132.00 10,163.00 11,457.88 13,156.00
      Other Current Liabilities 245,851.00 247,322.00 251,911.00 313,415.96 280,629.00
   Non-Current Liabilities 1,954.00 220.00 2,342.00 4,222.72 6,957.00
      Long-Term Debt 1,954.00 220.00 2,342.00 4,222.72 6,957.00
      Other Non-Current Liabilities 0.00 0.00 0.00 0.00 0.00
Equity 2,003,972.00 2,005,031.00 1,971,651.00 4,210,089.23 4,285,957.00
   Shareholders Equity 2,003,972.00 2,005,031.00 1,971,651.00 4,210,089.23 4,285,957.00
      Capital Stock 20.00 20.00 20.00 20.36 20.00
      Share Premium 5,363,717.00 5,363,717.00 5,363,717.00 7,514,498.34 7,514,497.00
      Retained Earnings -3,822,271.00 -3,833,600.00 -3,871,429.00 -3,791,817.47 -3,618,725.00
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income 462,506.00 474,894.00 479,343.00 487,388.00 390,165.00
   Minority Interest 0 0 0 0 0
Debt 9,750.00 12,352.00 12,505.00 15,680.60 20,113.00
Common Shares Outstanding 30,178.86 30,178.86 30,178.86 30,178.86 30,178.86
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Revenues 899,111.00 1,053,915.00 947,051.00 1,135,999.46 1,063,101.00
Cost Of Revenue 783,022.00 911,975.00 833,543.00 1,066,208.97 1,002,282.00
Interest Income 18,105.00 19,200.00 10,141.00 45,146.30 60,840.00
Non-Interest Expense 87,605.00 101,401.00 108,716.00 151,022.24 120,722.00
Gross Profit 116,089.00 141,940.00 113,508.00 69,790.48 60,819.00
Operating Expenses 104,159.00 127,694.00 139,650.00 32,961.84 155,001.00
   Selling, General and Administrative Expenses 87,605.00 101,401.00 108,716.00 151,022.24 120,722.00
   Research and Development Expenses 26,888.00 27,611.00 32,749.00 34,150.08 43,243.00
   Other Operating Expenses -10,334.00 -1,318.00 -1,815.00 -152,210.48 -8,964.00
Operating Income 11,930.00 14,246.00 -26,142.00 36,828.65 -94,182.00
Net Non-Operating Income -10,124.00 9,463.00 -58,554.00 -21,400.76 44,242.00
EBT 19,679.00 42,892.00 -74,297.00 -168,609.61 10,830.00
Income Tax 6,662.00 8,151.00 5,134.00 6,463.55 6,432.00
Net Income Including Non-Controlling Interests 11,329.00 37,829.00 -79,612.00 -173,092.29 3,404.00
Net Income 11,329.00 37,829.00 -79,612.00 -173,092.29 3,404.00
EBIT 11,930.00 14,246.00 -26,142.00 36,828.65 -94,182.00
EBITDA 11,930.00 14,246.00 -26,142.00 36,828.65 -94,182.00
EPS 0.00 0.00 -0.00 -0.01 0.00
Diluted EPS 0.00 0.00 -0.00 -0.01 0.00
Average Shares Outstanding Basic 30,178.86 30,178.86 30,178.86 30,178.86 30,228.32
Average Shares Outstanding Diluted 30,178.86 30,178.86 30,178.86 30,178.86 30,228.32
Breakdown
Operating Cash Flow
   Operating Net Income
   Deprecation and Amortization
   Deferred Income Tax
   Share Based Compensation
   Change in Working Capital
   Other Operating Activities
Investing Cash Flow
   Capital Expenditure
   Net Purchase/Sale of PPE
   Net Purchase/Sale of Investments Net
   Net Purchase/Sale of Business
   Other Investing Activities
Financing Cash Flow
   Net Issuance/Repayment of Debt
   Net Issuance/Repurchase of Equity
   Dividends Paid
   Other Financing Activities
Net Change in Cash
   Cash at Beginning of Period
   Cash at End of Period
Free Cash Flow