Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings 23.77 14.57 10.40 14.33 12.04
Price to Sales 25.72 45.95
Book Value Per Common Share 34.96 33.38 28.89 34.54 31.26
Price to Book 1.26 1.11 1.48 1.32 1.08
Price to Operating Cash Flow 10.32 11.48 6.59 9.83 17.09
Price to Free Cash Flow 10.48 11.88 6.75 10.55 21.82
Enterprise Value to EBITDA 58665.93 50506.77 67723.22 106037.62 70309.95
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Price to Earnings 107.94 47.41 45.61 92.42 59.21 96.00 43.97 43.94
Price to Sales 17.96
Book Value Per Common Share 38.67 37.53 36.46 34.96 35.74 33.44 33.38 31.72 28.89 31.36 34.54 30.78 31.26
Price to Book 1.37 1.17 1.10 1.26 1.16 1.08 1.11 1.12 1.48 1.33 1.32 1.41 1.08
Price to Operating Cash Flow 31.39 44.35 -73.43 39.37 14.78 40.14
Price to Free Cash Flow 31.54 44.86 -67.88 39.74 14.96 47.08
Enterprise Value to EBITDA 310358.67 196471.61 181252.98 173710.77 285354.31 289537.95 282712.24

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Earning YoY -27.17 -38.35 29.15 13.52
Revenue YoY 113.69
EBITDA YoY 2.87 33.38 47.02 11.72
Net Profit YoY -26.81 -29.13 53.63 17.39
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Earning YoY -47.31 5.68 95.56 -26.23 64.86 -61.05 -4.04
Revenue YoY
EBITDA YoY -24.06 1.58 67.74 -0.77 17.29
Net Profit YoY -47.20 5.93 96.30 -26.61 66.69 -55.37 20.48

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Cash Per Common Share 12.37 5.84 7.62 15.44 12.74
Quick Ratio
Current Ratio
Debt to Equity 7.40 7.83 9.30 7.54 7.16
Long-Term Debt to Equity
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Cash Per Common Share 14.50 17.28 18.78 12.27 8.66 5.79 17.58 7.57 15.97 12.94 18.69 12.85
Quick Ratio
Current Ratio
Debt to Equity 6.95 7.10 7.25 7.40 7.23 7.79 7.83 8.51 9.30 8.53 7.54 7.82 7.16
Long-Term Debt to Equity

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA 0.63 0.86 1.38 0.91 1.12
ROE 5.27 7.59 14.24 7.77 9.12
Gross Margin 76.54 45.72
Operating Margin 406.55 835.13
EBITDA Margin 441.92 918.00
Net Profit Margin 108.69 317.32
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
ROA 0.16 0.31 0.29 0.15 0.21 0.12 0.32 0.36
ROE 1.27 2.48 2.41 1.26 1.84 1.17 3.04 3.22
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin 19.55

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 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Dividend Yield 0.00
Dividend Payout Ratio 48.85

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Assets 12,147,694.00 12,114,942.00 10,625,049.00 10,508,901.00 7,289,751.00
   Deposits 10,530,525.00 16,683,322.00 14,889,055.00 12,394,966.00 8,374,226.00
      Cash and Short-Term Investments 507,507.00 237,855.00 270,318.00 461,162.00 367,290.00
            Cash and Cash Equivalents 507,507.00 237,855.00 270,318.00 461,162.00 367,290.00
            Short-Term Investments 0 0 0 0 0
      Net Receivables 36,329.00 37,351.00 29,710.00 86,899.00 26,349.00
      Inventory 0 0 0 0 0
      Other Current Assets 0 0 0 0 0
      Property, Plant, Equipment Net 157,259.00 168,020.00 152,920.00 156,811.00 138,016.00
      Goodwill 478,750.00 478,750.00 364,263.00 364,263.00 239,272.00
      Intangible Assets 22,904.00 32,858.00 12,675.00 17,827.00 15,366.00
      Long-Term Investments 0 0 0 0 0
      Non-Current Deferred Assets 0 0 0 0 0
      Other Non-Current Assets 0 0 0 0 0
Liabilities 10,702,083.00 10,742,562.00 9,593,453.00 9,278,326.00 6,396,330.00
      Payables and Expenses 0 0 0 0 0
            Account Payables 0 0 0 0 0
            Current Accrued Liabilities 0 0 0 0 0
      Short-Term Debt 1,100.00 529,000.00 220,000.00 900.00 500.00
      Other Current Liabilities 0 0 0 0 0
      Long-Term Debt 0 0 0 0 0
      Other Non-Current Liabilities 0 0 0 0 0
Equity 1,445,611.00 1,372,380.00 1,031,596.00 1,230,575.00 893,421.00
   Shareholders Equity 1,445,611.00 1,372,380.00 1,031,596.00 1,230,575.00 893,421.00
      Capital Stock 971,313.00 963,990.00 725,153.00 722,671.00 400,582.00
      Share Premium 0 0 0 0 0
      Retained Earnings 756,327.00 716,420.00 648,418.00 532,874.00 478,489.00
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income -282,029.00 -308,030.00 -341,975.00 -24,970.00 14,350.00
   Minority Interest 0 0 0 0 0
Investments 1,897,175.00 1,937,784.00 2,045,000.00 2,514,805.00 1,620,683.00
Debt 91,876.00 647,991.00 306,898.00 88,578.00 17,868.00
Net Debt 0 410,136.00 36,580.00 0 0
Common Shares Outstanding 41,347.42 41,109.99 35,704.15 35,629.18 28,579.33
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Revenues 70,123.00 32,816.00 0 0 0
Cost Of Revenue 16,448.00 17,813.00 12,400.00 15,031.00 35,039.00
Interest Income 519,240.00 488,759.00 340,957.00 255,918.00 237,684.00
Interest Expense 186,967.00 142,101.00 16,103.00 9,523.00 19,562.00
Net Interest 332,273.00 346,658.00 324,854.00 246,395.00 218,122.00
Non-Interest Income 17,899.00 57,490.00 67,985.00 73,611.00 81,346.00
Non-Interest Expense -235,607.00 -254,379.00 -195,220.00 -184,656.00 -161,298.00
Provisions for Credit Losses 16,448.00 17,813.00 12,400.00 15,031.00 35,039.00
Gross Profit 53,675.00 15,003.00 0 0 0
   Selling, General and Administrative Expenses 133,837.00 129,340.00 109,117.00 98,343.00 96,219.00
EBT 98,117.00 131,956.00 185,219.00 120,319.00 103,131.00
Income Tax 21,902.00 27,825.00 38,283.00 24,675.00 21,654.00
Net Income 76,215.00 104,131.00 146,936.00 95,644.00 81,477.00
EBIT 285,084.00 274,057.00 201,322.00 129,842.00 122,693.00
Deprecation and Amortization 24,807.00 27,194.00 24,534.00 23,776.00 14,813.00
EBITDA 309,891.00 301,251.00 225,856.00 153,618.00 137,506.00
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 41,021.47 40,746.77 35,485.62 29,876.15 28,839.87
Average Shares Outstanding Diluted 41,327.22 41,164.83 35,674.73 30,027.78 28,981.57
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow 174,781.00 131,396.00 230,654.00 138,901.00 57,075.00
   Operating Net Income 76,215.00 104,131.00 146,936.00 95,644.00 81,477.00
   Deprecation and Amortization 24,807.00 27,194.00 24,534.00 23,776.00 14,813.00
   Deferred Income Tax 0 -782.00 -1,810.00 -4,800.00 0
   Share Based Compensation 4,920.00 5,125.00 2,982.00 2,268.00 2,540.00
   Change in Working Capital -4,676.00 12,161.00 1,660.00 12,916.00 3,940.00
   Other Operating Activities 73,515.00 -16,433.00 56,352.00 9,097.00 -45,695.00
Investing Cash Flow 169,666.00 -191,365.00 -713,359.00 -1,270,443.00 -960,281.00
   Capital Expenditure -2,657.00 -4,421.00 -5,287.00 -9,402.00 -12,363.00
   Net Purchase/Sale of PPE -1,318.00 -3,451.00 -4,988.00 -9,089.00 -12,174.00
   Net Purchase/Sale of Investments Net 139,987.00 270,718.00 -141,041.00 -1,361,144.00 -714,611.00
   Net Purchase/Sale of Business 0 22,610.00 0 220,306.00 -9,559.00
   Net Loan & Lease Activity 17,494.00 -466,488.00 -558,398.00 -97,559.00 -233,788.00
   Other Investing Activities 16,160.00 -10,333.00 -3,645.00 -13,555.00 22,214.00
Financing Cash Flow -74,795.00 27,506.00 291,861.00 1,225,414.00 1,039,194.00
   Net Issuance/Repayment of Debt -529,049.00 303,009.00 219,867.00 -5,729.00 -250,035.00
   Net Issuance/Repurchase of Equity 4,094.00 4,519.00 0 4,036.00 31,868.00
   Dividends Paid 36,249.00 34,940.00 30,660.00 22,228.00 20,936.00
   Other Financing Activities 413,911.00 -314,962.00 41,334.00 1,204,879.00 1,236,425.00
Net Change in Cash 269,652.00 -32,463.00 -190,844.00 93,872.00 135,988.00
   Cash at Beginning of Period 237,855.00 270,318.00 461,162.00 367,290.00 231,302.00
   Cash at End of Period 507,507.00 237,855.00 270,318.00 461,162.00 367,290.00
Free Cash Flow 172,124.00 126,975.00 225,367.00 129,499.00 44,712.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Assets 12,750,263.00 12,608,265.00 12,436,245.00 12,147,694.00 12,153,430.00 12,091,597.00 12,114,942.00 12,363,149.00 10,625,049.00 10,652,060.00 10,508,901.00 7,736,394.00 7,289,751.00
   Deposits 10,881,170.00 10,830,380.00 10,744,659.00 10,530,525.00 0 10,303,311.00 16,683,322.00 10,372,598.00 14,889,055.00 12,757,719.00 12,394,966.00 9,022,432.00 8,374,226.00
      Cash and Short-Term Investments 597,975.00 711,286.00 772,441.00 507,507.00 0 353,842.00 237,855.00 713,382.00 270,318.00 565,759.00 461,162.00 530,066.00 367,290.00
            Cash and Cash Equivalents 597,975.00 711,286.00 772,441.00 507,507.00 744,441.00 353,842.00 237,855.00 713,382.00 270,318.00 565,759.00 461,162.00 530,066.00 367,290.00
            Short-Term Investments 0 0 0 0 1,907,458.00 0 0 0 0 0 0 0 0
      Net Receivables 35,986.00 36,681.00 35,452.00 36,329.00 32,890.00 35,147.00 37,351.00 34,673.00 29,710.00 28,358.00 86,899.00 9,142,064.00 26,349.00
      Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Current Assets 0 0 0 0 0 0 0 0 0 0 0 0 0
      Property, Plant, Equipment Net 155,141.00 155,661.00 155,354.00 157,259.00 144,868.00 167,097.00 168,020.00 171,688.00 152,920.00 155,862.00 156,811.00 140,170.00 138,016.00
      Goodwill 478,750.00 478,750.00 478,750.00 478,750.00 478,750.00 478,750.00 478,750.00 478,750.00 364,263.00 364,263.00 364,263.00 239,272.00 239,272.00
      Intangible Assets 18,526.00 19,920.00 21,388.00 22,904.00 24,466.00 30,886.00 32,858.00 39,262.00 12,675.00 16,928.00 17,827.00 14,606.00 15,366.00
      Long-Term Investments 0 0 0 0 2,429,259.00 0 0 0 0 0 0 0 0
      Non-Current Deferred Assets 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Non-Current Assets 0 0 0 0 0 0 0 0 0 0 0 0 0
Liabilities 11,146,940.00 11,052,085.00 10,928,069.00 10,702,083.00 10,675,905.00 10,715,498.00 10,742,562.00 11,063,188.00 9,593,453.00 9,534,570.00 9,278,326.00 6,859,541.00 6,396,330.00
      Payables and Expenses 0 0 0 0 5,566.00 0 0 0 0 0 0 0 0
            Account Payables 0 0 0 0 5,566.00 0 0 0 0 0 0 0 0
            Current Accrued Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0
      Short-Term Debt 0 0 0 1,100.00 0 0 529,000.00 0 220,000.00 0 900.00 0 500.00
      Other Current Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0
      Long-Term Debt 0 0 0 0 14,370.00 0 0 0 0 0 0 17,354.00 0
      Other Non-Current Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0
Equity 1,603,323.00 1,556,180.00 1,508,176.00 1,445,611.00 1,477,525.00 1,376,099.00 1,372,380.00 1,299,961.00 1,031,596.00 1,117,490.00 1,230,575.00 876,853.00 893,421.00
   Shareholders Equity 1,603,323.00 1,556,180.00 1,508,176.00 1,445,611.00 1,477,525.00 1,376,099.00 1,372,380.00 1,299,961.00 1,031,596.00 1,117,490.00 1,230,575.00 876,853.00 893,421.00
      Capital Stock 973,235.00 973,041.00 971,174.00 971,313.00 970,450.00 965,429.00 963,990.00 959,422.00 725,153.00 723,441.00 722,671.00 397,094.00 400,582.00
      Share Premium 0 0 0 0 0 0 0 0 0 0 0 0 0
      Retained Earnings 823,483.00 812,657.00 783,630.00 756,327.00 761,881.00 732,643.00 716,420.00 654,573.00 648,418.00 559,004.00 532,874.00 483,944.00 478,489.00
      Treasury Shares 0 0 0 0 0 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income -193,395.00 -229,518.00 -246,628.00 -282,029.00 -254,806.00 -321,973.00 -308,030.00 -314,034.00 -341,975.00 -164,955.00 -24,970.00 -4,185.00 14,350.00
   Minority Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 2,000,847.00 1,995,592.00 1,905,461.00 1,897,175.00 0 1,886,949.00 1,937,784.00 2,042,379.00 2,045,000.00 2,425,911.00 2,514,805.00 6,644,594.00 1,620,683.00
Debt 92,421.00 92,237.00 92,055.00 91,876.00 14,370.00 349,678.00 647,991.00 626,119.00 306,898.00 88,318.00 88,578.00 17,354.00 17,868.00
Net Debt 0 0 0 0 0 0 410,136.00 0 36,580.00 0 0 0 0
Common Shares Outstanding 41,465.44 41,468.10 41,368.83 41,347.42 41,340.10 41,156.29 41,109.99 40,986.99 35,704.15 35,639.89 35,629.18 28,489.47 28,579.33
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Revenues 0 0 0 94,870.00 0 0 0 0
Cost Of Revenue 3,442.00 2,212.00 1,116.00 0 1,200.00 12,502.00 2,000.00 0
Interest Income 144,200.00 136,741.00 132,660.00 131,409.00 126,572.00 117,174.00 79,109.00 58,009.00
Interest Expense 41,711.00 40,065.00 39,777.00 48,366.00 47,340.00 24,688.00 2,231.00 2,771.00
Net Interest 102,489.00 96,676.00 92,883.00 0 79,232.00 92,486.00 76,878.00 55,238.00
Non-Interest Income -12,879.00 14,341.00 12,902.00 0 12,938.00 13,536.00 19,251.00 20,669.00
Non-Interest Expense -60,211.00 -58,983.00 -57,893.00 56,485.00 -59,187.00 -74,175.00 -51,465.00 -40,065.00
Provisions for Credit Losses 3,442.00 2,212.00 1,116.00 0 1,200.00 12,502.00 2,000.00 0
   Selling, General and Administrative Expenses 36,210.00 34,200.00 33,853.00 39,278.00 31,305.00 33,009.00 26,838.00 23,035.00
EBT 25,957.00 49,822.00 46,776.00 22,572.00 31,783.00 19,345.00 42,664.00 35,842.00
Income Tax 5,594.00 11,256.00 10,370.00 3,892.00 6,511.00 4,184.00 8,695.00 7,648.00
Net Income Including Non-Controlling Interests 0 0 0 18,680.00 0 0 0 0
Net Income 20,363.00 38,566.00 36,406.00 18,546.00 25,272.00 15,161.00 33,969.00 28,194.00
EBIT 67,668.00 89,887.00 86,553.00 0 79,123.00 44,033.00 44,895.00 38,613.00
Deprecation and Amortization 2,994.00 3,168.00 5,058.00 4,256.00 6,454.00 6,986.00 6,519.00 5,221.00
EBITDA 70,662.00 93,055.00 91,611.00 0 85,577.00 51,019.00 51,414.00 43,834.00
EPS 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
Average Shares Outstanding Basic 41,237.87 41,168.26 41,130.78 40,971.52 40,843.86 40,583.42 35,433.74 28,357.81
Average Shares Outstanding Diluted 41,481.54 41,441.39 41,406.53 41,366.74 41,249.64 41,112.69 35,640.98 28,537.85
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Operating Cash Flow 0 0 52,596.00 38,422.00 -20,092.00 36,615.00 100,143.00 30,733.00
   Operating Net Income 20,363.00 38,566.00 36,406.00 18,680.00 25,272.00 15,161.00 33,969.00 28,194.00
   Deprecation and Amortization 2,994.00 3,168.00 5,058.00 4,256.00 6,454.00 6,986.00 6,519.00 5,221.00
   Deferred Income Tax 0 0 0 -4,456.00 0 0 0 0
   Share Based Compensation 0 0 1,020.00 1,365.00 662.00 1,118.00 547.00 397.00
   Change in Working Capital 0 0 8,127.00 2,383.00 -49,018.00 11,087.00 2,990.00 -7,742.00
   Other Operating Activities 0 0 1,985.00 16,194.00 -3,462.00 2,263.00 56,118.00 4,663.00
Investing Cash Flow 0 0 8,583.00 87,907.00 171,104.00 32,378.00 -249,025.00 -318,053.00
   Capital Expenditure 0.00 0.00 -243.00 0 -1,641.00 -346.00 -1,217.00 -4,534.00
   Net Purchase/Sale of PPE 0 0 99.00 306.00 -1,631.00 -331.00 -1,118.00 -4,316.00
   Net Purchase/Sale of Investments Net 0 0 21,974.00 37,457.00 87,389.00 171,670.00 -271,611.00 -425,785.00
   Net Purchase/Sale of Business 0 0 0 0 0 22,610.00 0 0
   Net Loan & Lease Activity 17,494.00 -466,488.00 -558,398.00 -97,559.00 -233,788.00
   Other Investing Activities 0 0 51.00 50,144.00 14,743.00 -27,513.00 -5,006.00 116,582.00
Financing Cash Flow 0 0 203,755.00 9,700.00 -35,025.00 374,071.00 253,479.00 450,096.00
   Net Issuance/Repayment of Debt 0 0 -12.00 -12.00 -298,012.00 279,966.00 -33.00 -531.00
   Net Issuance/Repurchase of Equity 0 0 1,118.00 0 726.00 3,215.00 0 4,036.00
   Dividends Paid 0 0 9,105.00 -9,060.00 9,042.00 7,852.00 7,123.00 5,140.00
   Other Financing Activities 0 0 193,544.00 18,772.00 253,219.00 83,038.00 246,389.00 441,451.00
Net Change in Cash 0 0 264,934.00 136,029.00 115,987.00 443,064.00 104,597.00 162,776.00
   Cash at Beginning of Period 0 0 507,507.00 608,412.00 237,855.00 270,318.00 461,162.00 367,290.00
   Cash at End of Period 597,975.00 711,286.00 772,441.00 744,441.00 353,842.00 713,382.00 565,759.00 530,066.00
Free Cash Flow 0 0 52,353.00 37,984.00 -21,733.00 36,269.00 98,926.00 26,199.00