Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings 14.29 18.58 20.44
Price to Sales 0.48 0.65 0.79
Book Value Per Common Share 380.02 522.99 473.68 463.52 421.55
Price to Book 0.97 0.90 1.08
Price to Operating Cash Flow 11.77 9.14 12.50
Price to Free Cash Flow
Enterprise Value to EBITDA 65363.15 95514.20 109575.04
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Price to Earnings 14.22 22.37 45.12 21.72 27.70 53.73 20.07 27.41 54.94 21.52 33.63
Price to Sales 0.49 0.89 2.01 0.92 1.46 2.83 0.80 1.23 2.59 0.94 1.52
Book Value Per Common Share 197.95 194.46 188.37 380.02 188.74 181.93 174.62 522.99 163.57 161.98 157.54 473.68 150.61 149.18 149.19 463.52 147.16 143.36 137.95 421.55
Price to Book 1.63 2.00 2.31 0.97 2.76 2.98 2.97 0.90 2.66 2.74 2.92 1.08 3.02 3.23
Price to Operating Cash Flow 17.29 28.60 96.83 23.68 51.93 61.00 9.33 12.51 16.88 11.02 23.29
Price to Free Cash Flow
Enterprise Value to EBITDA 82740.00 133984.33 279295.97 131978.92 176089.74 341111.10 116150.10 162037.55 327209.54 128629.60 205796.95

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Earning YoY 1.69 1.12 0.24 37.36
Revenue YoY 3.31 9.42 12.95 13.76
EBITDA YoY 11.58 3.29 2.97 19.53
Net Profit YoY -0.12 -0.63 -1.29 33.51
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Earning YoY 30.71 80.39 22.39 102.69 33.87 93.67 47.11 91.84 43.88 107.79
Revenue YoY 51.40 101.81 52.17 103.07 49.92 103.56 52.05 101.41 54.08 104.53
EBITDA YoY 32.85 85.74 28.05 101.87 36.17 94.09 49.92 95.11 46.18 108.19
Net Profit YoY 30.29 79.84 22.35 102.40 33.55 93.16 46.79 91.58 43.64 107.69

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Cash Per Common Share 165.00 161.77 147.92 140.37 129.51
Quick Ratio 1.06 1.00 0.98 1.07 1.17
Current Ratio 1.53 1.35 1.33 1.43 1.50
Debt to Equity 1.32 1.24 1.27 1.18 1.14
Long-Term Debt to Equity 0.80 0.65 0.68 0.66 0.66
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Cash Per Common Share 166.38 158.22 151.80 168.06 168.08 157.42 158.05 163.73 165.23 162.68 162.37 149.19 155.53 146.74 147.90 141.55 139.00 134.20 153.11 132.35
Quick Ratio 1.15 1.05 1.05 1.06 1.10 1.07 1.03 1.00 1.08 1.11 1.12 0.98 1.07 1.07 1.08 1.07 1.14 1.14 1.26 1.17
Current Ratio 1.56 1.44 1.43 1.53 1.50 1.49 1.37 1.35 1.41 1.44 1.43 1.33 1.35 1.37 1.36 1.43 1.48 1.49 1.57 1.50
Debt to Equity 1.78 1.78 1.81 1.32 1.66 1.67 1.75 1.24 1.87 1.85 1.91 1.27 1.86 1.81 1.79 1.18 1.74 1.74 1.82 1.14
Long-Term Debt to Equity 0.86 0.78 0.81 0.80 0.70 0.68 0.66 0.65 0.74 0.76 0.79 0.68 0.71 0.72 0.69 0.66 0.76 0.78 0.80 0.66

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA 3.11 3.40 3.64 3.87 3.21
ROE 7.23 7.61 8.29 8.46 6.89
Gross Margin -93.21 17.34 17.29 18.10 20.41
Operating Margin 6.47 5.70 6.04 6.86 6.40
EBITDA Margin 7.25 6.72 7.11 7.80 7.43
Net Profit Margin 3.38 3.49 3.85 4.40 3.75
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
ROA 4.17 3.22 1.82 4.77 4.02 2.01 4.64 3.52 1.82 4.93 3.43 1.80 5.07 3.60 1.74
ROE 11.60 8.95 5.12 12.68 10.75 5.52 13.31 10.03 5.31 14.08 9.64 5.01 13.87 9.87 4.91
Gross Margin -100.88 -98.65 -95.36 18.06 19.31 19.27 18.06 18.23 18.74 17.90 17.96 18.37 18.74 19.40 19.68
Operating Margin 5.04 5.85 6.42 6.19 7.48 7.53 5.82 6.49 6.81 6.20 6.36 6.63 6.98 7.44 7.31
EBITDA Margin 5.80 6.62 7.19 6.95 8.25 8.30 6.84 7.53 7.90 7.23 7.34 7.57 7.90 8.33 8.18
Net Profit Margin 3.42 3.98 4.47 4.23 5.26 5.28 3.99 4.48 4.72 4.35 4.51 4.74 4.87 5.22 5.14

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Dividend Yield
Dividend Payout Ratio
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Dividend Yield
Dividend Payout Ratio

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Assets 192,249,000.00 176,350,000.00 165,322,000.00 157,527,000.00 142,417,000.00
   Current Assets 66,750,000.00 62,609,000.00 57,602,000.00 53,457,000.00 48,339,000.00
      Cash and Short-Term Investments 38,230,000.00 38,161,000.00 35,501,000.00 34,222,000.00 32,480,000.00
            Cash and Cash Equivalents 10,158,000.00 8,009,000.00 8,329,000.00 5,510,000.00 6,441,000.00
            Short-Term Investments 28,072,000.00 30,152,000.00 27,172,000.00 28,712,000.00 26,039,000.00
      Net Receivables 8,011,000.00 7,902,000.00 7,083,000.00 5,681,000.00 5,279,000.00
      Inventory 0 0 0 0 0
      Other Current Assets 20,509,000.00 16,546,000.00 15,018,000.00 13,554,000.00 10,580,000.00
   Non-Current Assets 125,499,000.00 113,741,000.00 107,720,000.00 104,070,000.00 94,078,000.00
      Property, Plant, Equipment Net 5,378,000.00 5,121,000.00 5,107,000.00 4,126,000.00 3,692,000.00
      Goodwill 62,448,000.00 25,317,000.00 51,297,000.00 24,228,000.00 44,454,000.00
      Intangible Assets 12,094,000.00 10,273,000.00 10,315,000.00 10,615,000.00 9,405,000.00
      Long-Term Investments 16,318,000.00 25,967,000.00 24,172,000.00 22,202,000.00 18,366,000.00
      Non-Current Deferred Assets 0 0 0 0 0
      Other Non-Current Assets 29,261,000.00 47,063,000.00 16,829,000.00 42,899,000.00 18,161,000.00
Liabilities 109,508,000.00 97,639,000.00 92,621,000.00 85,339,000.00 76,019,000.00
   Current Liabilities 43,577,000.00 46,296,000.00 43,240,000.00 37,387,000.00 32,315,000.00
      Payables and Expenses 7,664,000.00 8,619,000.00 6,501,000.00 5,529,000.00 5,922,000.00
            Account Payables 0 0 0 0 0
            Current Accrued Liabilities 75,000.00 0 0 0 0
      Short-Term Debt 4,758,000.00 3,523,000.00 3,265,000.00 3,473,000.00 700,000.00
      Other Current Liabilities 31,155,000.00 34,154,000.00 33,474,000.00 28,385,000.00 25,693,000.00
   Non-Current Liabilities 65,931,000.00 51,343,000.00 49,381,000.00 47,952,000.00 43,704,000.00
      Long-Term Debt 58,411,000.00 46,467,000.00 44,673,000.00 42,289,000.00 38,645,000.00
      Other Non-Current Liabilities 7,520,000.00 4,876,000.00 4,708,000.00 5,663,000.00 5,059,000.00
Equity 82,741,000.00 78,711,000.00 72,701,000.00 72,188,000.00 66,398,000.00
   Shareholders Equity 86,447,000.00 121,893,000.00 112,716,000.00 112,066,000.00 103,448,000.00
      Capital Stock 2,000.00 2,000.00 2,000.00 2,000.00 3,000.00
      Share Premium 8,911,000.00 8,868,000.00 9,084,000.00 9,148,000.00 9,244,000.00
      Retained Earnings 33,549,000.00 31,749,000.00 29,724,000.00 27,088,000.00 23,802,000.00
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income -1,147,000.00 -1,313,000.00 -2,503,000.00 -178,000.00 150,000.00
   Minority Interest 111,000.00 99,000.00 87,000.00 68,000.00 0
Investments 44,390,000.00 56,119,000.00 51,344,000.00 50,914,000.00 44,405,000.00
Debt 63,169,000.00 49,990,000.00 47,938,000.00 45,762,000.00 40,045,000.00
Net Debt 24,939,000.00 11,829,000.00 12,437,000.00 11,540,000.00 7,565,000.00
Common Shares Outstanding 227,479.70 233,071.09 237,958.07 241,770.75 245,401.43
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Revenues 177,011,000.00 171,340,000.00 156,595,000.00 138,639,000.00 121,867,000.00
   Net Premiums 290,962,000.00 287,387,000.00 133,229,000.00 117,373,000.00 104,109,000.00
Cost Of Revenue 342,000,000.00 141,623,000.00 129,522,000.00 113,540,000.00 96,998,000.00
Gross Profit -164,989,000.00 29,717,000.00 27,073,000.00 25,099,000.00 24,869,000.00
Operating Expenses -172,851,000.00 21,218,000.00 18,621,000.00 17,610,000.00 18,509,000.00
   Selling, General and Administrative Expenses 44,236,000.00 20,513,000.00 17,686,000.00 15,914,000.00 17,450,000.00
   Other Operating Expenses -217,087,000.00 705,000.00 935,000.00 1,696,000.00 1,059,000.00
Operating Income 7,862,000.00 8,499,000.00 8,452,000.00 7,489,000.00 6,360,000.00
Net Non-Operating Income 42,000.00 -784,000.00 -683,000.00 436,000.00 -122,000.00
Interest Expense 3,542,000.00 2,047,000.00 1,696,000.00 1,592,000.00 1,563,000.00
EBT 7,904,000.00 7,715,000.00 7,769,000.00 7,925,000.00 6,238,000.00
Income Tax 1,933,000.00 1,724,000.00 1,750,000.00 1,830,000.00 1,666,000.00
Net Income Including Non-Controlling Interests 5,989,000.00 5,983,000.00 6,031,000.00 6,113,000.00 0
Net Income Non-Controlling Interests -9,000.00 4,000.00 -6,000.00 -9,000.00 0
Net Income 5,980,000.00 5,987,000.00 6,025,000.00 6,104,000.00 4,572,000.00
EBIT 11,446,000.00 9,762,000.00 9,465,000.00 9,517,000.00 7,801,000.00
Deprecation and Amortization 1,393,000.00 1,745,000.00 1,675,000.00 1,302,000.00 1,250,000.00
EBITDA 12,839,000.00 11,507,000.00 11,140,000.00 10,819,000.00 9,051,000.00
EPS 0.03 0.03 0.03 0.03 0.02
Diluted EPS 0.03 0.03 0.02 0.02 0.02
Average Shares Outstanding Basic 231,700.00 235,900.00 240,000.00 243,800.00 250,800.00
Average Shares Outstanding Diluted 232,900.00 237,400.00 242,800.00 246,800.00 254,300.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow 7,259,000.00 12,174,000.00 9,846,000.00 10,402,000.00 15,498,000.00
   Operating Net Income 5,971,000.00 5,991,000.00 6,019,000.00 6,095,000.00 9,897,000.00
   Deprecation and Amortization 1,393,000.00 1,745,000.00 1,675,000.00 1,302,000.00 1,250,000.00
   Deferred Income Tax -374,000.00 -602,000.00 -76,000.00 326,000.00 -718,000.00
   Share Based Compensation 191,000.00 289,000.00 264,000.00 255,000.00 283,000.00
   Change in Working Capital 189,000.00 2,696,000.00 2,065,000.00 2,177,000.00 752,000.00
   Other Operating Activities -111,000.00 2,055,000.00 -101,000.00 247,000.00 4,034,000.00
Investing Cash Flow -7,216,000.00 -5,831,000.00 -3,231,000.00 -11,459,000.00 -10,250,000.00
   Capital Expenditure 0.00 0.00 0.00 0.00 0.00
   Net Purchase/Sale of PPE 1,256,000.00 1,296,000.00 1,152,000.00 1,087,000.00 1,021,000.00
   Net Purchase/Sale of Investments Net 23,375,000.00 19,373,000.00 36,053,000.00 25,135,000.00 24,267,000.00
   Net Purchase/Sale of Business 5,172,000.00 1,552,000.00 649,000.00 3,476,000.00 1,976,000.00
   Other Investing Activities -37,019,000.00 -28,052,000.00 -41,085,000.00 -41,157,000.00 -37,514,000.00
Financing Cash Flow 2,178,000.00 -6,662,000.00 -3,782,000.00 136,000.00 -5,569,000.00
   Net Issuance/Repayment of Debt 18,433,000.00 9,451,000.00 13,578,000.00 12,620,000.00 12,477,000.00
   Net Issuance/Repurchase of Equity 6,021,000.00 5,743,000.00 5,116,000.00 4,354,000.00 5,881,000.00
   Dividends Paid 3,094,000.00 2,861,000.00 2,519,000.00 2,262,000.00 1,954,000.00
   Other Financing Activities -25,370,000.00 -24,717,000.00 -24,995,000.00 -19,100,000.00 -25,881,000.00
Net Change in Cash 2,215,000.00 -320,000.00 2,819,000.00 -861,000.00 804,000.00
   Cash at Beginning of Period 6,073,000.00 6,846,000.00 4,568,000.00 0 0
   Cash at End of Period 8,288,000.00 6,526,000.00 7,387,000.00 0 0
Free Cash Flow 0 0 0 0 0
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Assets 122,749,000.00 121,938,000.00 119,717,000.00 192,249,000.00 116,533,000.00 112,988,000.00 111,894,000.00 176,350,000.00 110,478,000.00 109,168,000.00 109,040,000.00 165,322,000.00 103,026,000.00 100,877,000.00 100,486,000.00 157,527,000.00 98,060,000.00 96,097,000.00 95,683,000.00 142,417,000.00
   Current Assets 63,778,000.00 63,324,000.00 61,121,000.00 66,750,000.00 62,846,000.00 62,274,000.00 60,948,000.00 62,609,000.00 61,185,000.00 59,743,000.00 59,823,000.00 57,602,000.00 55,603,000.00 53,655,000.00 53,897,000.00 53,457,000.00 51,904,000.00 50,238,000.00 54,495,000.00 48,339,000.00
      Cash and Short-Term Investments 37,436,000.00 35,726,000.00 34,367,000.00 38,230,000.00 39,046,000.00 36,585,000.00 36,778,000.00 38,161,000.00 39,060,000.00 38,556,000.00 38,562,000.00 35,501,000.00 37,404,000.00 35,365,000.00 35,704,000.00 34,222,000.00 33,957,000.00 32,852,000.00 37,511,000.00 32,480,000.00
            Cash and Cash Equivalents 8,713,000.00 8,560,000.00 7,500,000.00 10,158,000.00 7,866,000.00 6,497,000.00 6,226,000.00 8,009,000.00 10,919,000.00 9,991,000.00 10,142,000.00 8,329,000.00 8,872,000.00 6,456,000.00 6,161,000.00 5,510,000.00 5,490,000.00 5,258,000.00 9,326,000.00 6,441,000.00
            Short-Term Investments 28,723,000.00 27,166,000.00 26,867,000.00 28,072,000.00 31,180,000.00 30,088,000.00 30,552,000.00 30,152,000.00 28,141,000.00 28,565,000.00 28,420,000.00 27,172,000.00 28,532,000.00 28,909,000.00 29,543,000.00 28,712,000.00 28,467,000.00 27,594,000.00 28,185,000.00 26,039,000.00
      Net Receivables 9,535,000.00 10,465,000.00 10,359,000.00 8,011,000.00 7,209,000.00 8,040,000.00 8,931,000.00 7,902,000.00 7,883,000.00 7,431,000.00 8,246,000.00 7,083,000.00 6,682,000.00 6,757,000.00 7,349,000.00 5,681,000.00 6,008,000.00 5,834,000.00 6,111,000.00 5,279,000.00
      Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Current Assets 16,807,000.00 17,133,000.00 16,395,000.00 20,509,000.00 16,591,000.00 17,649,000.00 15,239,000.00 16,546,000.00 14,242,000.00 13,756,000.00 13,015,000.00 15,018,000.00 11,517,000.00 11,533,000.00 10,844,000.00 13,554,000.00 11,939,000.00 11,552,000.00 10,873,000.00 10,580,000.00
   Non-Current Assets 58,971,000.00 58,614,000.00 58,596,000.00 125,499,000.00 53,687,000.00 50,714,000.00 50,946,000.00 113,741,000.00 49,293,000.00 49,425,000.00 49,217,000.00 107,720,000.00 47,423,000.00 47,222,000.00 46,589,000.00 104,070,000.00 46,156,000.00 45,859,000.00 41,188,000.00 94,078,000.00
      Property, Plant, Equipment Net 4,657,000.00 4,641,000.00 4,617,000.00 5,378,000.00 4,505,000.00 4,450,000.00 4,451,000.00 5,121,000.00 4,821,000.00 5,152,000.00 5,015,000.00 5,107,000.00 4,797,000.00 4,090,000.00 3,986,000.00 4,126,000.00 3,835,000.00 3,733,000.00 3,533,000.00 3,692,000.00
      Goodwill 30,508,000.00 30,467,000.00 31,374,000.00 62,448,000.00 27,611,000.00 27,608,000.00 27,475,000.00 25,317,000.00 25,291,000.00 25,274,000.00 25,273,000.00 51,297,000.00 48,885,000.00 24,367,000.00 24,251,000.00 24,228,000.00 27,741,000.00 28,171,000.00 22,789,000.00 44,454,000.00
      Intangible Assets 11,327,000.00 11,490,000.00 11,940,000.00 12,094,000.00 10,325,000.00 10,447,000.00 10,710,000.00 10,273,000.00 10,491,000.00 10,703,000.00 10,915,000.00 10,315,000.00 10,536,000.00 10,762,000.00 10,588,000.00 10,615,000.00 10,749,000.00 10,540,000.00 9,352,000.00 9,405,000.00
      Long-Term Investments 14,086,000.00 13,588,000.00 13,168,000.00 16,318,000.00 34,424,000.00 28,008,000.00 27,568,000.00 25,967,000.00 25,186,000.00 24,626,000.00 24,540,000.00 24,172,000.00 22,537,000.00 22,068,000.00 21,930,000.00 22,202,000.00 20,307,000.00 20,065,000.00 13,980,000.00 18,366,000.00
      Non-Current Deferred Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Non-Current Assets -1,607,000.00 -1,572,000.00 -2,503,000.00 29,261,000.00 -23,178,000.00 -19,799,000.00 -19,258,000.00 47,063,000.00 -16,496,000.00 -16,330,000.00 -16,526,000.00 16,829,000.00 -39,332,000.00 -14,065,000.00 -14,166,000.00 42,899,000.00 -16,476,000.00 -16,650,000.00 -8,466,000.00 18,161,000.00
Liabilities 78,667,000.00 78,087,000.00 77,097,000.00 109,508,000.00 72,654,000.00 70,691,000.00 71,184,000.00 97,639,000.00 71,939,000.00 70,856,000.00 71,580,000.00 92,621,000.00 66,983,000.00 65,010,000.00 64,455,000.00 85,339,000.00 62,252,000.00 61,051,000.00 61,765,000.00 76,019,000.00
   Current Liabilities 40,878,000.00 43,834,000.00 42,698,000.00 43,577,000.00 42,033,000.00 41,813,000.00 44,334,000.00 46,296,000.00 43,337,000.00 41,571,000.00 41,889,000.00 43,240,000.00 41,287,000.00 39,308,000.00 39,733,000.00 37,387,000.00 35,162,000.00 33,794,000.00 34,749,000.00 32,315,000.00
      Payables and Expenses 6,085,000.00 7,278,000.00 7,131,000.00 7,664,000.00 6,255,000.00 5,760,000.00 5,658,000.00 8,619,000.00 5,983,000.00 5,033,000.00 4,873,000.00 6,501,000.00 4,963,000.00 5,850,000.00 5,493,000.00 5,529,000.00 5,960,000.00 5,598,000.00 5,329,000.00 5,922,000.00
            Account Payables 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
            Current Accrued Liabilities 141,000.00 665,000.00 267,000.00 75,000.00 0 0 38,000.00 0 0 0 0 0 0 0 0 0 0 0 176,000.00 0
      Short-Term Debt 1,469,000.00 3,088,000.00 2,643,000.00 4,758,000.00 3,540,000.00 3,800,000.00 5,150,000.00 3,523,000.00 799,000.00 795,000.00 795,000.00 3,265,000.00 3,044,000.00 2,773,000.00 3,922,000.00 3,473,000.00 1,374,000.00 1,374,000.00 700,000.00 700,000.00
      Other Current Liabilities 33,324,000.00 33,468,000.00 32,924,000.00 31,155,000.00 32,238,000.00 32,253,000.00 33,526,000.00 34,154,000.00 36,555,000.00 35,743,000.00 36,221,000.00 33,474,000.00 33,280,000.00 30,685,000.00 30,318,000.00 28,385,000.00 27,828,000.00 26,822,000.00 28,720,000.00 25,693,000.00
   Non-Current Liabilities 37,789,000.00 34,253,000.00 34,399,000.00 65,931,000.00 30,621,000.00 28,878,000.00 26,850,000.00 51,343,000.00 28,602,000.00 29,285,000.00 29,691,000.00 49,381,000.00 25,696,000.00 25,702,000.00 24,722,000.00 47,952,000.00 27,090,000.00 27,257,000.00 27,016,000.00 43,704,000.00
      Long-Term Debt 31,173,000.00 28,178,000.00 28,110,000.00 58,411,000.00 24,688,000.00 24,561,000.00 21,976,000.00 46,467,000.00 24,045,000.00 24,859,000.00 25,201,000.00 44,673,000.00 21,258,000.00 21,165,000.00 19,883,000.00 42,289,000.00 21,761,000.00 22,217,000.00 22,534,000.00 38,645,000.00
      Other Non-Current Liabilities 6,616,000.00 6,075,000.00 6,289,000.00 7,520,000.00 5,933,000.00 4,317,000.00 4,874,000.00 4,876,000.00 4,557,000.00 4,426,000.00 4,490,000.00 4,708,000.00 4,438,000.00 4,537,000.00 4,839,000.00 5,663,000.00 5,329,000.00 5,040,000.00 4,482,000.00 5,059,000.00
Equity 44,082,000.00 43,851,000.00 42,620,000.00 82,741,000.00 43,879,000.00 42,297,000.00 40,710,000.00 78,711,000.00 38,539,000.00 38,312,000.00 37,460,000.00 72,701,000.00 36,043,000.00 35,867,000.00 36,031,000.00 72,188,000.00 35,808,000.00 35,046,000.00 33,918,000.00 66,398,000.00
   Shareholders Equity 43,953,000.00 43,722,000.00 42,503,000.00 86,447,000.00 43,775,000.00 42,191,000.00 40,608,000.00 121,893,000.00 38,423,000.00 38,205,000.00 37,356,000.00 112,716,000.00 35,991,000.00 35,812,000.00 35,975,000.00 112,066,000.00 35,737,000.00 34,968,000.00 33,853,000.00 103,448,000.00
      Capital Stock 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 3,000.00
      Share Premium 8,908,000.00 8,931,000.00 8,866,000.00 8,911,000.00 9,105,000.00 9,001,000.00 8,883,000.00 8,868,000.00 8,830,000.00 8,761,000.00 8,697,000.00 9,084,000.00 9,169,000.00 9,134,000.00 9,151,000.00 9,148,000.00 9,138,000.00 9,109,000.00 9,253,000.00 9,244,000.00
      Retained Earnings 35,586,000.00 35,549,000.00 34,546,000.00 33,549,000.00 35,157,000.00 34,575,000.00 33,088,000.00 31,749,000.00 32,103,000.00 31,608,000.00 30,707,000.00 29,724,000.00 29,604,000.00 28,825,000.00 28,058,000.00 27,088,000.00 26,700,000.00 25,874,000.00 24,793,000.00 23,802,000.00
      Treasury Shares 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income -543,000.00 -760,000.00 -911,000.00 -1,147,000.00 -489,000.00 -1,387,000.00 -1,365,000.00 -1,313,000.00 -2,512,000.00 -2,166,000.00 -2,050,000.00 -2,503,000.00 -2,784,000.00 -2,149,000.00 -1,236,000.00 -178,000.00 -103,000.00 -17,000.00 -195,000.00 150,000.00
   Minority Interest 129,000.00 129,000.00 117,000.00 111,000.00 104,000.00 106,000.00 102,000.00 99,000.00 116,000.00 107,000.00 104,000.00 87,000.00 52,000.00 55,000.00 56,000.00 68,000.00 71,000.00 78,000.00 65,000.00 0
Investments 42,809,000.00 40,754,000.00 40,035,000.00 44,390,000.00 65,604,000.00 58,096,000.00 58,120,000.00 56,119,000.00 53,327,000.00 53,191,000.00 52,960,000.00 51,344,000.00 51,069,000.00 50,977,000.00 51,473,000.00 50,914,000.00 48,774,000.00 47,659,000.00 42,165,000.00 44,405,000.00
Debt 32,642,000.00 31,266,000.00 30,753,000.00 63,169,000.00 28,228,000.00 28,361,000.00 27,126,000.00 49,990,000.00 24,844,000.00 25,654,000.00 25,996,000.00 47,938,000.00 24,302,000.00 23,938,000.00 23,805,000.00 45,762,000.00 23,135,000.00 23,591,000.00 23,234,000.00 40,045,000.00
Net Debt 0 0 0 24,939,000.00 0 0 0 11,829,000.00 0 0 0 12,437,000.00 0 0 0 11,540,000.00 0 0 0 7,565,000.00
Common Shares Outstanding 222,036.19 224,835.51 225,641.36 227,479.70 231,929.64 231,902.08 232,544.72 233,071.09 234,906.99 235,861.65 237,114.19 237,958.07 238,974.62 240,051.90 241,140.93 241,770.75 242,847.68 243,922.17 245,401.43 245,401.43
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31
Revenues 149,378,000.00 98,667,000.00 48,891,000.00 -83,598,000.00 131,569,000.00 86,463,000.00 42,577,000.00 -85,369,000.00 128,693,000.00 85,844,000.00 42,172,000.00 -74,893,000.00 116,666,000.00 76,727,000.00 38,095,000.00 -62,040,000.00 102,058,000.00 66,236,000.00 32,385,000.00
   Net Premiums 253,023,000.00 167,679,000.00 83,274,000.00 -141,988,000.00 217,724,000.00 143,426,000.00 71,800,000.00 -147,205,000.00 216,693,000.00 145,753,000.00 72,146,000.00 -65,000,000.00 99,583,000.00 65,861,000.00 32,785,000.00 -53,116,000.00 86,604,000.00 56,209,000.00 27,676,000.00
Cost Of Revenue 300,066,000.00 196,003,000.00 95,514,000.00 130,061,000.00 107,805,000.00 69,763,000.00 34,371,000.00 -68,294,000.00 105,452,000.00 70,198,000.00 34,267,000.00 -60,305,000.00 95,785,000.00 62,944,000.00 31,098,000.00 -48,793,000.00 82,932,000.00 53,389,000.00 26,012,000.00
Gross Profit -150,688,000.00 -97,336,000.00 -46,623,000.00 -213,659,000.00 23,764,000.00 16,700,000.00 8,206,000.00 -17,075,000.00 23,241,000.00 15,646,000.00 7,905,000.00 -14,588,000.00 20,881,000.00 13,783,000.00 6,997,000.00 -13,247,000.00 19,126,000.00 12,847,000.00 6,373,000.00
Operating Expenses -157,578,000.00 -102,931,000.00 -49,793,000.00 -205,535,000.00 16,575,000.00 10,919,000.00 5,190,000.00 -10,069,000.00 16,026,000.00 10,187,000.00 5,074,000.00 -8,695,000.00 13,797,000.00 8,969,000.00 4,550,000.00 -8,032,000.00 12,825,000.00 8,605,000.00 4,212,000.00
   Selling, General and Administrative Expenses 34,056,000.00 22,524,000.00 11,556,000.00 14,177,000.00 15,221,000.00 9,952,000.00 4,886,000.00 -8,993,000.00 15,088,000.00 9,618,000.00 4,800,000.00 -8,389,000.00 13,124,000.00 8,610,000.00 4,341,000.00 -7,449,000.00 11,692,000.00 7,746,000.00 3,925,000.00
   Other Operating Expenses -191,634,000.00 -125,455,000.00 -61,349,000.00 -219,712,000.00 1,354,000.00 967,000.00 304,000.00 -1,076,000.00 938,000.00 569,000.00 274,000.00 -306,000.00 673,000.00 359,000.00 209,000.00 -583,000.00 1,133,000.00 859,000.00 287,000.00
Operating Income 6,890,000.00 5,595,000.00 3,170,000.00 -8,124,000.00 7,189,000.00 5,781,000.00 3,016,000.00 -7,006,000.00 7,215,000.00 5,459,000.00 2,831,000.00 -5,893,000.00 7,084,000.00 4,814,000.00 2,447,000.00 -5,215,000.00 6,301,000.00 4,242,000.00 2,161,000.00
Net Non-Operating Income -395,000.00 -506,000.00 -373,000.00 -134,000.00 109,000.00 144,000.00 -77,000.00 328,000.00 -501,000.00 -399,000.00 -212,000.00 252,000.00 -469,000.00 -345,000.00 -121,000.00 -90,000.00 224,000.00 287,000.00 15,000.00
Interest Expense 1,036,000.00 685,000.00 344,000.00 1,887,000.00 845,000.00 545,000.00 265,000.00 513,000.00 771,000.00 512,000.00 251,000.00 464,000.00 622,000.00 409,000.00 201,000.00 405,000.00 598,000.00 397,000.00 192,000.00
EBT 6,495,000.00 5,089,000.00 2,797,000.00 -8,258,000.00 7,298,000.00 5,925,000.00 2,939,000.00 -6,678,000.00 6,714,000.00 5,060,000.00 2,619,000.00 -5,641,000.00 6,615,000.00 4,469,000.00 2,326,000.00 -5,305,000.00 6,525,000.00 4,529,000.00 2,176,000.00
Income Tax 1,380,000.00 1,161,000.00 613,000.00 -1,872,000.00 1,740,000.00 1,375,000.00 690,000.00 -1,645,000.00 1,554,000.00 1,200,000.00 615,000.00 -1,362,000.00 1,557,000.00 1,024,000.00 531,000.00 -1,295,000.00 1,555,000.00 1,061,000.00 509,000.00
Net Income Including Non-Controlling Interests 5,115,000.00 3,924,000.00 2,182,000.00 -6,362,000.00 5,566,000.00 4,542,000.00 2,243,000.00 -4,917,000.00 5,102,000.00 3,824,000.00 1,974,000.00 -4,349,000.00 5,094,000.00 3,471,000.00 1,815,000.00 -3,966,000.00 4,964,000.00 3,448,000.00 1,667,000.00
Net Income Non-Controlling Interests 0.00 2,000.00 1,000.00 -12,000.00 -4,000.00 4,000.00 3,000.00 -58,000.00 29,000.00 18,000.00 15,000.00 35,000.00 -18,000.00 -13,000.00 -10,000.00 -20,000.00 3,000.00 10,000.00 -2,000.00
Net Income 5,115,000.00 3,926,000.00 2,183,000.00 -6,374,000.00 5,562,000.00 4,546,000.00 2,246,000.00 -4,975,000.00 5,131,000.00 3,842,000.00 1,989,000.00 -4,314,000.00 5,076,000.00 3,458,000.00 1,805,000.00 -3,986,000.00 4,967,000.00 3,458,000.00 1,665,000.00
EBIT 7,531,000.00 5,774,000.00 3,141,000.00 -6,371,000.00 8,143,000.00 6,470,000.00 3,204,000.00 -6,165,000.00 7,485,000.00 5,572,000.00 2,870,000.00 -5,177,000.00 7,237,000.00 4,878,000.00 2,527,000.00 -4,900,000.00 7,123,000.00 4,926,000.00 2,368,000.00
Deprecation and Amortization 1,140,000.00 753,000.00 373,000.00 -599,000.00 995,000.00 666,000.00 331,000.00 -933,000.00 1,321,000.00 895,000.00 462,000.00 -636,000.00 1,202,000.00 751,000.00 358,000.00 -513,000.00 942,000.00 591,000.00 282,000.00
EBITDA 8,671,000.00 6,527,000.00 3,514,000.00 -6,970,000.00 9,138,000.00 7,136,000.00 3,535,000.00 -7,098,000.00 8,806,000.00 6,467,000.00 3,332,000.00 -5,813,000.00 8,439,000.00 5,629,000.00 2,885,000.00 -5,413,000.00 8,065,000.00 5,517,000.00 2,650,000.00
EPS 0.02 0.02 0.01 -0.00 0.02 0.02 0.01 -0.00 0.02 0.02 0.01 -0.00 0.02 0.01 0.01 -0.00 0.02 0.01 0.01
Diluted EPS 0.02 0.02 0.01 0.00 0.02 0.02 0.01 0.00 0.02 0.02 0.01 0.00 0.02 0.01 0.01 0.00 0.02 0.01 0.01
Average Shares Outstanding Basic 225,000.00 225,800.00 226,400.00 229,400.00 232,300.00 232,400.00 232,700.00 232,700.00 236,400.00 237,000.00 237,500.00 237,100.00 240,500.00 241,000.00 241,400.00 241,100.00 244,300.00 244,800.00 245,000.00
Average Shares Outstanding Diluted 225,600.00 226,500.00 227,200.00 230,000.00 233,600.00 233,800.00 234,200.00 233,200.00 238,000.00 238,700.00 239,700.00 239,600.00 243,300.00 243,900.00 244,400.00 244,000.00 247,200.00 247,800.00 248,200.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31
Operating Cash Flow 4,206,000.00 3,071,000.00 1,017,000.00 -2,246,000.00 5,102,000.00 2,425,000.00 1,978,000.00 -13,746,000.00 11,032,000.00 8,419,000.00 6,469,000.00 -7,605,000.00 9,917,000.00 4,993,000.00 2,541,000.00 -2,983,000.00 6,692,000.00 4,188,000.00 2,505,000.00
   Operating Net Income 5,115,000.00 3,928,000.00 2,184,000.00 -6,386,000.00 5,558,000.00 4,550,000.00 2,249,000.00 -5,033,000.00 5,160,000.00 3,860,000.00 2,004,000.00 -4,279,000.00 5,058,000.00 3,445,000.00 1,795,000.00 -4,010,000.00 4,970,000.00 3,468,000.00 1,667,000.00
   Deprecation and Amortization 1,140,000.00 753,000.00 373,000.00 -599,000.00 995,000.00 666,000.00 331,000.00 -933,000.00 1,321,000.00 895,000.00 462,000.00 -636,000.00 1,202,000.00 751,000.00 358,000.00 -513,000.00 942,000.00 591,000.00 282,000.00
   Deferred Income Tax 43,000.00 -226,000.00 -174,000.00 -218,000.00 -258,000.00 -34,000.00 136,000.00 407,000.00 -361,000.00 -393,000.00 -255,000.00 358,000.00 -170,000.00 -172,000.00 -92,000.00 189,000.00 114,000.00 -8,000.00 31,000.00
   Share Based Compensation 246,000.00 162,000.00 81,000.00 -245,000.00 220,000.00 154,000.00 62,000.00 -128,000.00 217,000.00 139,000.00 61,000.00 -99,000.00 191,000.00 122,000.00 50,000.00 -138,000.00 196,000.00 133,000.00 64,000.00
   Change in Working Capital 4,039,000.00 5,392,000.00 4,315,000.00 -6,327,000.00 2,063,000.00 2,385,000.00 2,068,000.00 -11,605,000.00 5,183,000.00 4,606,000.00 4,512,000.00 -4,645,000.00 3,648,000.00 741,000.00 2,321,000.00 -4,533,000.00 2,564,000.00 2,152,000.00 1,994,000.00
   Other Operating Activities -6,377,000.00 -6,938,000.00 -5,762,000.00 11,529,000.00 -3,476,000.00 -5,296,000.00 -2,868,000.00 3,546,000.00 -488,000.00 -688,000.00 -315,000.00 1,696,000.00 -12,000.00 106,000.00 -1,891,000.00 6,022,000.00 -2,094,000.00 -2,148,000.00 -1,533,000.00
Investing Cash Flow -1,808,000.00 -584,000.00 103,000.00 1,751,000.00 -3,529,000.00 -3,128,000.00 -2,310,000.00 5,752,000.00 -4,543,000.00 -3,856,000.00 -3,184,000.00 6,798,000.00 -4,849,000.00 -3,602,000.00 -1,578,000.00 6,752,000.00 -8,672,000.00 -7,232,000.00 -2,307,000.00
   Capital Expenditure 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
   Net Purchase/Sale of PPE 823,000.00 463,000.00 196,000.00 -559,000.00 934,000.00 602,000.00 279,000.00 -626,000.00 970,000.00 651,000.00 301,000.00 -505,000.00 854,000.00 549,000.00 254,000.00 -353,000.00 747,000.00 489,000.00 204,000.00
   Net Purchase/Sale of Investments Net 13,512,000.00 8,888,000.00 4,413,000.00 -10,711,000.00 16,283,000.00 11,136,000.00 6,667,000.00 -58,931,000.00 38,950,000.00 28,350,000.00 11,004,000.00 -15,201,000.00 27,309,000.00 17,658,000.00 6,287,000.00 -14,920,000.00 18,568,000.00 13,496,000.00 7,991,000.00
   Net Purchase/Sale of Business -55,000.00 -54,000.00 -4,000.00 1,006,000.00 1,523,000.00 1,523,000.00 1,120,000.00 -3,307,000.00 1,570,000.00 1,651,000.00 1,638,000.00 -644,000.00 623,000.00 609,000.00 61,000.00 -3,435,000.00 3,442,000.00 3,442,000.00 27,000.00
   Other Investing Activities -16,088,000.00 -9,881,000.00 -4,502,000.00 12,015,000.00 -22,269,000.00 -16,389,000.00 -10,376,000.00 68,616,000.00 -46,033,000.00 -34,508,000.00 -16,127,000.00 23,148,000.00 -33,635,000.00 -22,418,000.00 -8,180,000.00 25,460,000.00 -31,429,000.00 -24,659,000.00 -10,529,000.00
Financing Cash Flow -1,974,000.00 -2,217,000.00 -1,909,000.00 1,661,000.00 -215,000.00 700,000.00 32,000.00 -1,215,000.00 -2,955,000.00 -1,961,000.00 -531,000.00 -3,239,000.00 -1,060,000.00 195,000.00 322,000.00 -7,558,000.00 1,738,000.00 2,568,000.00 3,388,000.00
   Net Issuance/Repayment of Debt 7,962,000.00 2,352,000.00 2,201,000.00 11,385,000.00 3,651,000.00 2,421,000.00 976,000.00 -3,451,000.00 4,170,000.00 4,017,000.00 4,715,000.00 -184,000.00 6,381,000.00 6,687,000.00 694,000.00 -2,325,000.00 5,471,000.00 5,531,000.00 3,943,000.00
   Net Issuance/Repurchase of Equity 2,155,000.00 1,279,000.00 903,000.00 2,878,000.00 1,294,000.00 1,186,000.00 663,000.00 1,869,000.00 1,860,000.00 1,349,000.00 665,000.00 1,310,000.00 1,900,000.00 1,285,000.00 621,000.00 1,211,000.00 1,539,000.00 1,068,000.00 536,000.00
   Dividends Paid 1,152,000.00 771,000.00 386,000.00 823,000.00 1,135,000.00 757,000.00 379,000.00 760,000.00 1,049,000.00 701,000.00 351,000.00 668,000.00 924,000.00 618,000.00 309,000.00 599,000.00 831,000.00 555,000.00 277,000.00
   Other Financing Activities -13,243,000.00 -6,619,000.00 -5,399,000.00 -13,425,000.00 -6,295,000.00 -3,664,000.00 -1,986,000.00 -393,000.00 -10,034,000.00 -8,028,000.00 -6,262,000.00 -5,033,000.00 -10,265,000.00 -8,395,000.00 -1,302,000.00 -7,043,000.00 -6,103,000.00 -4,586,000.00 -1,368,000.00
Net Change in Cash 425,000.00 272,000.00 -788,000.00 1,163,000.00 1,360,000.00 -8,000.00 -300,000.00 -9,211,000.00 3,532,000.00 2,604,000.00 2,755,000.00 -4,030,000.00 3,992,000.00 1,576,000.00 1,281,000.00 -3,712,000.00 -251,000.00 -483,000.00 3,585,000.00
   Cash at Beginning of Period 8,288,000.00 8,288,000.00 8,288,000.00 7,125,000.00 6,506,000.00 6,505,000.00 6,526,000.00 15,737,000.00 7,387,000.00 7,387,000.00 7,387,000.00 11,417,000.00 4,880,000.00 4,880,000.00 4,880,000.00 0.00 0 0 0
   Cash at End of Period 8,713,000.00 8,560,000.00 7,500,000.00 8,288,000.00 7,866,000.00 6,497,000.00 6,226,000.00 6,526,000.00 10,919,000.00 9,991,000.00 10,142,000.00 7,387,000.00 8,872,000.00 6,456,000.00 6,161,000.00 0 0 0 0
Free Cash Flow 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0