Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 35.74 43.97 26.42 28.04
Price to Sales 1.68 1.58 1.32 1.46
Book Value Per Common Share 73.57 66.30 62.13 57.20
Price to Book 3.51 3.22 2.64 3.04
Price to Operating Cash Flow 21.47 83.22 30.29 18.46
Price to Free Cash Flow 35.92 -129.05 207.99 33.71
Enterprise Value to EBITDA 181676.26 194015.53 146956.77 137415.94
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings 177.01 162.86 159.87 127.76 112.42
Price to Sales 12.30 10.37 9.02 5.95 5.18
Book Value Per Common Share 86.56 85.07 73.95 73.57 69.02
Price to Book 5.89 5.28 5.19 3.51 2.90
Price to Operating Cash Flow 150.43 169.92 93.20 25.41 157.41
Price to Free Cash Flow 233.56 289.81 106.33 28.43 1756.80
Enterprise Value to EBITDA 1092587.35 1042132.78 872392.98 728864.68 517956.17

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY 48.87 -21.90 0.00
Revenue YoY 14.28 8.40 4.41
EBITDA YoY 29.51 -1.29 -11.73
Net Profit YoY 49.28 -21.90 0.40
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY 4.35 15.00 18.81 13.48
Revenue YoY -2.59 4.05 -1.78 12.38
EBITDA YoY 8.26 1.69 24.60 -8.21
Net Profit YoY 6.12 17.38 18.99 13.76

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 6.00 4.69 4.79 5.89
Quick Ratio 0.64 0.64 0.69 0.79
Current Ratio 1.20 1.14 1.18 1.24
Debt to Equity 2.34 2.30 2.34 2.66
Long-Term Debt to Equity 0.73 0.67 0.79 1.08
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 15.87 18.65 10.21 5.99 2.77
Quick Ratio 0.76 0.77 0.70 0.64 0.64
Current Ratio 1.32 1.29 1.21 1.20 1.15
Debt to Equity 2.06 2.07 2.43 2.34 2.53
Long-Term Debt to Equity 0.65 0.62 0.73 0.73 0.72

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 2.93 2.21 2.99 2.94
ROE 9.79 7.29 9.99 10.77
Gross Margin 24.05 24.82 24.92 25.73
Operating Margin 6.95 5.42 6.05 7.72
EBITDA Margin 9.27 8.18 8.98 10.62
Net Profit Margin 4.70 3.60 5.00 5.20
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA 1.09 1.04 0.94 0.82 0.73
ROE 3.32 3.19 3.24 2.74 2.57
Gross Margin 24.89 23.97 23.96 24.10 24.03
Operating Margin 8.99 7.93 8.16 6.03 7.73
EBITDA Margin 11.26 10.13 10.37 8.17 10.00
Net Profit Margin 6.94 6.37 5.65 4.66 4.61

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 27.70 41.49 31.52 28.86
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 20.84 21.34 20.80 24.71 28.12

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 10,971,596.00 9,739,582.00 9,215,651.00 9,317,344.00
   Current Assets 6,355,181.00 5,508,080.00 5,031,777.00 4,980,004.00
      Cash and Short-Term Investments 266,681.00 207,947.00 212,148.00 260,178.00
            Cash and Cash Equivalents 265,351.00 197,429.00 211,108.00 258,993.00
            Short-Term Investments 1,330.00 10,518.00 1,040.00 1,185.00
      Net Receivables 3,109,519.00 2,855,177.00 2,718,405.00 2,924,258.00
      Inventory 2,359,070.00 2,031,814.00 1,694,742.00 1,491,018.00
      Other Current Assets 619,911.00 413,142.00 406,482.00 304,550.00
   Non-Current Assets 4,616,415.00 4,231,502.00 4,183,874.00 4,337,340.00
      Property, Plant, Equipment Net 1,804,023.00 1,513,834.00 1,354,653.00 1,319,067.00
      Goodwill 1,490,585.00 1,499,065.00 1,502,494.00 1,550,552.00
      Intangible Assets 354,760.00 390,520.00 435,061.00 473,865.00
      Long-Term Investments 135,079.00 152,480.00 166,599.00 188,077.00
      Non-Current Deferred Assets 45,588.00 33,915.00 29,208.00 76,606.00
      Other Non-Current Assets 786,380.00 641,688.00 695,859.00 729,173.00
Liabilities 7,690,616.00 6,789,291.00 6,457,976.00 6,771,081.00
   Current Liabilities 5,311,168.00 4,823,846.00 4,277,289.00 4,024,091.00
      Payables and Expenses 2,072,420.00 1,914,973.00 1,703,875.00 1,719,866.00
            Account Payables 1,343,816.00 1,254,126.00 1,067,818.00 1,023,679.00
            Current Accrued Liabilities 371,077.00 332,282.00 339,956.00 322,955.00
      Short-Term Debt 610,329.00 719,270.00 260,953.00 183,136.00
      Other Current Liabilities 2,628,419.00 2,189,603.00 2,312,461.00 2,121,089.00
   Non-Current Liabilities 2,379,448.00 1,965,445.00 2,180,687.00 2,746,990.00
      Long-Term Debt 759,981.00 747,174.00 1,024,663.00 1,271,592.00
      Other Non-Current Liabilities 1,619,467.00 1,218,271.00 1,156,024.00 1,475,398.00
Equity 3,280,980.00 2,950,291.00 2,757,675.00 2,546,263.00
   Shareholders Equity 3,277,540.00 2,947,503.00 2,755,221.00 2,531,635.00
      Capital Stock 12,842.00 12,816.00 12,786.00 12,762.00
      Share Premium 459,330.00 443,570.00 431,429.00 420,966.00
      Retained Earnings 2,741,070.00 2,508,914.00 2,382,564.00 2,195,764.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income 64,298.00 -17,797.00 -71,558.00 -97,857.00
   Minority Interest 3,440.00 2,788.00 2,454.00 14,628.00
Debt 1,370,310.00 1,466,444.00 1,285,616.00 1,454,728.00
Net Debt 565,990.00 838,525.00 660,601.00 732,313.00
Common Shares Outstanding 44,547.67 44,453.85 44,344.21 44,255.56
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 6,827,871.00 5,974,744.00 5,511,549.00 5,278,521.00
Cost Of Revenue 5,186,051.00 4,491,790.00 4,138,266.00 3,920,473.00
Interest Income 2,851.00 2,359.00 383.00 469.00
Interest Expense 132,666.00 97,323.00 41,150.00 24,262.00
Non-Interest Expense 665,459.00 696,022.00 643,622.00 570,828.00
Gross Profit 1,641,820.00 1,482,954.00 1,373,283.00 1,358,048.00
Operating Expenses 1,131,861.00 1,120,442.00 1,010,354.00 951,255.00
   Selling, General and Administrative Expenses 665,459.00 696,022.00 643,622.00 570,828.00
   Research and Development Expenses 466,402.00 424,420.00 435,650.00 395,087.00
   Other Operating Expenses 0 0 -68,918.00 -14,660.00
Operating Income 509,959.00 362,512.00 362,929.00 406,793.00
Net Non-Operating Income 405.00 -428.00 1,787.00 -231.00
EBT 341,746.00 226,494.00 292,558.00 383,451.00
Income Tax 39,058.00 22,913.00 24,131.00 131,387.00
Net Income Including Non-Controlling Interests 321,864.00 215,856.00 275,469.00 274,663.00
Net Income Non-Controlling Interests -726.00 -725.00 -21.00 -313.00
Net Income 321,138.00 215,131.00 275,448.00 274,350.00
EBIT 474,412.00 323,817.00 333,708.00 407,713.00
Deprecation and Amortization 158,391.00 164,799.00 161,290.00 153,091.00
EBITDA 632,803.00 488,616.00 494,998.00 560,804.00
EPS 0.01 0.00 0.01 0.01
Diluted EPS 0.01 0.00 0.01 0.01
Average Shares Outstanding Basic 44,480.00 44,375.00 44,322.00 44,204.00
Average Shares Outstanding Diluted 44,709.00 44,592.00 44,581.00 44,278.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 534,610.00 113,709.00 240,068.00 416,932.00
   Operating Net Income 321,864.00 215,856.00 275,469.00 274,663.00
   Deprecation and Amortization 158,391.00 164,799.00 161,290.00 153,091.00
   Deferred Income Tax 1,649.00 -13,165.00 -2,219.00 39,095.00
   Share Based Compensation 15,760.00 12,141.00 10,463.00 5,312.00
   Change in Working Capital 27,126.00 -280,886.00 -190,721.00 -33,742.00
   Other Operating Activities 9,820.00 14,964.00 -14,214.00 -21,487.00
Investing Cash Flow -178,834.00 -210,600.00 -151,982.00 -587,721.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE -210,944.00 -185,571.00 -180,228.00 -162,879.00
   Net Purchase/Sale of Investments Net 28,337.00 -9,233.00 14,404.00 22,557.00
   Net Purchase/Sale of Business 3,773.00 -15,796.00 13,842.00 -447,399.00
   Other Investing Activities 0.00 0.00 0.00 0.00
Financing Cash Flow -287,854.00 83,212.00 -135,971.00 150,988.00
   Net Issuance/Repayment of Debt -198,922.00 172,430.00 -49,182.00 230,143.00
   Net Issuance/Repurchase of Equity 0 0 24.00 0
   Dividends Paid -88,958.00 -89,248.00 -86,813.00 -79,175.00
   Other Financing Activities 0 0 0.00 20.00
Net Change in Cash 67,922.00 -13,679.00 -47,885.00 -19,801.00
   Cash at Beginning of Period 197,429.00 211,108.00 258,993.00 278,794.00
   Cash at End of Period 265,351.00 197,429.00 211,108.00 258,993.00
Free Cash Flow 319,559.00 -73,328.00 34,958.00 228,308.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Assets 12,279,243.00 12,096,945.00 11,355,188.00 10,971,596.00 10,847,089.00
   Current Assets 7,440,713.00 7,320,652.00 6,801,808.00 6,355,181.00 6,364,722.00
      Cash and Short-Term Investments 735,630.00 848,911.00 455,137.00 266,681.00 123,368.00
            Cash and Cash Equivalents 142,593.00 109,112.00 113,680.00 265,351.00 119,199.00
            Short-Term Investments 593,037.00 739,799.00 341,457.00 1,330.00 4,169.00
      Net Receivables 3,558,959.00 3,526,337.00 3,481,175.00 3,109,519.00 3,418,621.00
      Inventory 3,146,124.00 2,945,404.00 2,865,496.00 2,359,070.00 2,822,733.00
      Other Current Assets 0.00 0.00 0.00 619,911.00 0.00
   Non-Current Assets 4,838,530.00 4,776,293.00 4,553,380.00 4,616,415.00 4,482,367.00
      Property, Plant, Equipment Net 1,869,243.00 1,815,315.00 1,799,681.00 1,804,023.00 1,760,891.00
      Goodwill 0 0 0 1,490,585.00 0
      Intangible Assets 0 0 0 354,760.00 0
      Long-Term Investments 183,485.00 182,517.00 181,754.00 135,079.00 175,219.00
      Non-Current Deferred Assets 52,895.00 48,363.00 39,550.00 45,588.00 23,765.00
      Other Non-Current Assets 0 0 0 786,380.00 0
Liabilities 8,260,865.00 8,150,952.00 8,046,933.00 7,690,616.00 7,773,843.00
   Current Liabilities 5,636,196.00 5,694,018.00 5,635,934.00 5,311,168.00 5,547,908.00
      Payables and Expenses 2,965,610.00 2,850,381.00 2,726,874.00 2,072,420.00 2,575,609.00
            Account Payables 1,569,589.00 1,475,005.00 1,445,130.00 1,343,816.00 1,310,636.00
            Current Accrued Liabilities 0 0 0 371,077.00 0
      Short-Term Debt 346,562.00 529,566.00 665,783.00 610,329.00 842,425.00
      Other Current Liabilities 2,324,024.00 2,314,071.00 2,243,277.00 2,628,419.00 2,129,874.00
   Non-Current Liabilities 2,624,669.00 2,456,934.00 2,410,999.00 2,379,448.00 2,225,935.00
      Long-Term Debt 722,751.00 705,701.00 722,736.00 759,981.00 756,406.00
      Other Non-Current Liabilities 1,901,918.00 1,751,233.00 1,688,263.00 1,619,467.00 1,469,529.00
Equity 4,018,378.00 3,945,993.00 3,308,255.00 3,280,980.00 3,073,246.00
   Shareholders Equity 4,013,808.00 3,941,618.00 3,304,422.00 3,277,540.00 3,069,810.00
      Capital Stock 0 0 0 12,842.00 0
      Share Premium 0 0 0 459,330.00 0
      Retained Earnings 0 0 0 2,741,070.00 0
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income 0 0 0 64,298.00 0
   Minority Interest 4,570.00 4,375.00 3,833.00 3,440.00 3,436.00
Debt 1,069,313.00 1,235,267.00 1,388,519.00 1,370,310.00 1,598,831.00
Net Debt 356,913.00 573,630.00 763,317.00 565,990.00 949,116.00
Common Shares Outstanding 46,369.32 46,334.37 44,685.57 44,547.67 44,478.26
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Revenues 1,921,608.00 1,972,659.00 1,895,801.00 1,930,216.00 1,717,547.00
Cost Of Revenue 1,443,369.00 1,499,748.00 1,441,493.00 1,465,015.00 1,304,763.00
Interest Expense 34,459.00 31,171.00 38,957.00 27,447.00 44,953.00
Non-Interest Expense 177,695.00 185,426.00 190,332.00 171,707.00 167,085.00
Gross Profit 478,239.00 472,911.00 454,308.00 465,201.00 412,784.00
Operating Expenses 306,805.00 315,094.00 304,601.00 302,899.00 286,975.00
   Selling, General and Administrative Expenses 177,695.00 185,426.00 190,332.00 171,707.00 167,085.00
   Research and Development Expenses 129,110.00 129,668.00 114,269.00 131,192.00 119,890.00
Operating Income 171,434.00 157,817.00 149,707.00 162,302.00 125,809.00
Net Non-Operating Income 1,354.00 -1,343.00 4,946.00 -9,864.00 7,002.00
EBT 138,329.00 125,303.00 115,696.00 89,039.00 87,858.00
Income Tax 11,409.00 7,057.00 16,060.00 3,369.00 12,830.00
Net Income Including Non-Controlling Interests 133,676.00 126,022.00 107,368.00 90,221.00 79,312.00
Net Income Non-Controlling Interests -281.00 -323.00 -285.00 -228.00 -206.00
Net Income 133,395.00 125,699.00 107,083.00 89,993.00 79,106.00
EBIT 172,788.00 156,474.00 154,653.00 116,486.00 132,811.00
Deprecation and Amortization 43,571.00 43,379.00 41,876.00 41,246.00 39,023.00
EBITDA 216,359.00 199,853.00 196,529.00 157,732.00 171,834.00
EPS 0.00 0.00 0.00 0.00 0.00
Diluted EPS 0.00 0.00 0.00 0.00 0.00
Average Shares Outstanding Basic 46,349.00 45,513.00 44,592.00 44,505.00 44,478.00
Average Shares Outstanding Diluted 47,670.00 46,697.00 45,546.00 44,937.00 44,618.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Operating Cash Flow 157,078.00 120,395.00 183,575.00 452,071.00 56,542.00
   Operating Net Income 133,675.00 126,024.00 107,368.00 90,221.00 79,313.00
   Deprecation and Amortization 43,571.00 43,379.00 41,876.00 41,246.00 39,023.00
   Deferred Income Tax 2,679.00 -13,993.00 -758.00 -10,475.00 6,079.00
   Share Based Compensation 6,031.00 5,759.00 5,737.00 5,700.00 4,355.00
   Change in Working Capital -28,312.00 -47,882.00 33,994.00 315,492.00 -69,395.00
   Other Operating Activities -566.00 7,108.00 -4,642.00 9,887.00 -2,833.00
Investing Cash Flow 91,723.00 -448,015.00 -362,343.00 -45,203.00 -20,711.00
   Capital Expenditure 0 0 0 0 0
   Net Purchase/Sale of PPE -55,074.00 -49,717.00 -22,299.00 -48,955.00 -50,823.00
   Net Purchase/Sale of Investments Net 146,397.00 -398,248.00 -339,994.00 21,604.00 14,765.00
   Net Purchase/Sale of Business 400.00 -50.00 -50.00 -17,852.00 15,347.00
   Other Investing Activities 0.00 0.00 0.00 0.00 0.00
Financing Cash Flow -215,320.00 323,052.00 27,097.00 -260,716.00 -37,294.00
   Net Issuance/Repayment of Debt -187,542.00 -223,081.00 49,333.00 -238,494.00 -15,051.00
   Net Issuance/Repurchase of Equity 21.00 572,963.00 37.00 0 1.00
   Dividends Paid -27,799.00 -26,830.00 -22,273.00 -22,241.00 -22,244.00
   Other Financing Activities 0.00 0.00 0.00 0 0.00
Net Change in Cash 33,481.00 -4,568.00 -151,671.00 146,152.00 -1,463.00
   Cash at Beginning of Period 109,112.00 113,680.00 265,351.00 119,199.00 120,662.00
   Cash at End of Period 142,593.00 109,112.00 113,680.00 265,351.00 119,199.00
Free Cash Flow 101,165.00 70,591.00 160,905.00 404,022.00 5,068.00