Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 13.38 10.68 9.71 11.52
Price to Sales 3.49 2.80 2.79 4.07
Book Value Per Common Share 29.33 28.15 25.35 32.53
Price to Book 1.44 1.23 1.29 1.34
Price to Operating Cash Flow 10.21 5.23 3.51 11.31
Price to Free Cash Flow 11.97 5.91 3.93 12.77
Enterprise Value to EBITDA
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings 48.96 46.74 55.21 49.16 54.92
Price to Sales 13.03 12.41 12.65 13.32 14.14
Book Value Per Common Share 31.93 31.64 30.58 29.33 30.73
Price to Book 1.40 1.30 1.28 1.44 1.39
Price to Operating Cash Flow 28.38 21.12 21.33 -282.62 15.68
Price to Free Cash Flow 35.64 24.74 23.85 -125.24 16.87
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY -2.17 -4.44 -10.58
Revenue YoY -2.01 3.95 7.94
EBITDA YoY
Net Profit YoY -2.58 -4.98 -12.22
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY 3.41 23.94 -17.44 10.26
Revenue YoY 2.52 6.88 -2.94 3.88
EBITDA YoY
Net Profit YoY 2.88 23.64 -17.87 9.40

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share
Quick Ratio
Current Ratio
Debt to Equity 9.84 10.19 10.97 8.51
Long-Term Debt to Equity
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share
Quick Ratio
Current Ratio
Debt to Equity 9.09 8.94 9.42 9.84 9.31
Long-Term Debt to Equity

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 1.01 1.03 1.12 1.26
ROE 10.97 11.54 13.44 11.94
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin 26.11 26.26 28.73 35.33
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA 0.29 0.28 0.22 0.27 0.25
ROE 2.88 2.80 2.34 2.96 2.56
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin 26.68 26.59 22.98 27.16 25.79

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 54.57 47.92 39.82 33.82
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 46.88 48.05 62.13 49.66 60.15

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 212,927,000.00 214,574,000.00 207,452,000.00 211,116,000.00
      Cash and Short-Term Investments 0 0 0 0
            Cash and Cash Equivalents 3,014,000.00 3,142,000.00 3,466,000.00 2,994,000.00
            Short-Term Investments 55,926,000.00 71,779,000.00 58,980,000.00 72,163,000.00
      Net Receivables 6,523,000.00 5,592,000.00 6,228,000.00 6,616,000.00
      Inventory 0 0 0 0
      Other Current Assets 0 0 0 0
      Property, Plant, Equipment Net 3,320,000.00 3,319,000.00 3,322,000.00 3,163,000.00
      Goodwill 4,918,000.00 4,919,000.00 4,915,000.00 4,514,000.00
      Intangible Assets 1,794,000.00 1,862,000.00 1,915,000.00 1,277,000.00
      Long-Term Investments 71,213,000.00 75,619,000.00 61,869,000.00 75,081,000.00
      Non-Current Deferred Assets 0 0 0 0
      Other Non-Current Assets 0 0 0 0
Liabilities 193,282,000.00 195,402,000.00 190,125,000.00 188,906,000.00
      Payables and Expenses 2,137,000.00 2,195,000.00 1,822,000.00 2,233,000.00
            Account Payables 0 0 0 0
            Current Accrued Liabilities 0 0 0 0
      Short-Term Debt 4,158,000.00 2,528,000.00 4,326,000.00 0
      Other Current Liabilities 0 0 0 0
      Long-Term Debt 14,337,000.00 16,380,000.00 13,714,000.00 11,821,000.00
      Other Non-Current Liabilities 0 0 0 0
Equity 19,645,000.00 19,172,000.00 17,327,000.00 22,210,000.00
   Shareholders Equity 19,645,000.00 19,172,000.00 17,327,000.00 22,210,000.00
      Capital Stock 4,167,000.00 4,167,000.00 4,167,000.00 4,167,000.00
      Share Premium 3,804,000.00 3,757,000.00 3,684,000.00 3,624,000.00
      Retained Earnings 24,150,000.00 22,997,000.00 21,689,000.00 20,236,000.00
      Treasury Shares 7,840,000.00 7,262,000.00 7,103,000.00 7,024,000.00
      Accumulated Other Comprehensive Income -4,636,000.00 -4,487,000.00 -5,110,000.00 1,207,000.00
   Minority Interest 0 0 0 0
Debt 18,495,000.00 18,908,000.00 18,040,000.00 11,821,000.00
Net Debt 15,481,000.00 15,766,000.00 14,574,000.00 8,827,000.00
Common Shares Outstanding 669,853.83 681,124.81 683,385.88 682,777.66
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 8,253,000.00 8,422,000.00 8,102,000.00 7,506,000.00
Interest Income 10,426,000.00 9,760,000.00 6,587,000.00 5,211,000.00
Interest Expense 4,796,000.00 3,933,000.00 978,000.00 441,000.00
Non-Interest Expense 4,794,000.00 4,733,000.00 4,461,000.00 4,388,000.00
   Selling, General and Administrative Expenses 3,163,000.00 3,114,000.00 2,971,000.00 2,984,000.00
EBT 2,916,000.00 2,988,000.00 3,093,000.00 3,517,000.00
Income Tax 602,000.00 639,000.00 647,000.00 747,000.00
Net Income Including Non-Controlling Interests 2,314,000.00 2,349,000.00 2,446,000.00 2,770,000.00
Net Income 2,155,000.00 2,212,000.00 2,328,000.00 2,652,000.00
Deprecation and Amortization 495,000.00 462,000.00 436,000.00 349,000.00
EPS 0.00 0.00 0.00 0.00
Diluted EPS 0.00 0.00 0.00 0.00
Average Shares Outstanding Basic 682,161.00 684,172.00 688,634.00 702,189.00
Average Shares Outstanding Diluted 687,301.00 687,678.00 694,952.00 711,198.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 2,824,000.00 4,509,000.00 6,428,000.00 2,704,000.00
   Operating Net Income 2,314,000.00 2,349,000.00 2,446,000.00 2,770,000.00
   Deprecation and Amortization 495,000.00 462,000.00 436,000.00 349,000.00
   Deferred Income Tax 72,000.00 -106,000.00 -60,000.00 -14,000.00
   Share Based Compensation 164,000.00 169,000.00 165,000.00 120,000.00
   Change in Working Capital -558,000.00 360,000.00 210,000.00 -239,000.00
   Other Operating Activities 337,000.00 1,275,000.00 3,231,000.00 -282,000.00
Investing Cash Flow 1,039,000.00 -9,488,000.00 -4,871,000.00 -7,968,000.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE -325,000.00 -421,000.00 -470,000.00 -262,000.00
   Net Purchase/Sale of Investments Net 4,440,000.00 -12,858,000.00 5,451,000.00 -3,618,000.00
   Net Purchase/Sale of Business 6,000.00 0 -851,000.00 -297,000.00
   Other Investing Activities -3,082,000.00 3,791,000.00 -9,001,000.00 -3,791,000.00
Financing Cash Flow -3,991,000.00 4,655,000.00 -1,085,000.00 5,111,000.00
   Net Issuance/Repayment of Debt -433,000.00 829,000.00 6,564,000.00 -3,234,000.00
   Net Issuance/Repurchase of Equity 0 0 -100,000.00 -1,393,000.00
   Dividends Paid -1,176,000.00 -1,060,000.00 -927,000.00 -897,000.00
   Other Financing Activities 0 0 -6,622,000.00 10,635,000.00
Net Change in Cash -128,000.00 -324,000.00 472,000.00 -153,000.00
   Cash at Beginning of Period 3,142,000.00 3,466,000.00 2,994,000.00 3,147,000.00
   Cash at End of Period 3,014,000.00 3,142,000.00 3,466,000.00 2,994,000.00
Free Cash Flow 2,410,000.00 3,993,000.00 5,743,000.00 2,395,000.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Assets 212,903,000.00 209,991,000.00 212,669,000.00 212,927,000.00 214,318,000.00
      Cash and Short-Term Investments 0 0 0 0 0
            Cash and Cash Equivalents 2,901,000.00 2,972,000.00 3,009,000.00 3,014,000.00 3,215,000.00
            Short-Term Investments 53,413,000.00 51,136,000.00 54,216,000.00 55,926,000.00 61,386,000.00
      Net Receivables 3,200,000.00 3,161,000.00 3,112,000.00 6,523,000.00 2,859,000.00
      Inventory 0 0 0 0 0
      Other Current Assets 0 0 0 0 0
      Property, Plant, Equipment Net 3,034,000.00 2,904,000.00 2,820,000.00 3,320,000.00 2,782,000.00
      Goodwill 4,947,000.00 4,918,000.00 4,918,000.00 4,918,000.00 4,918,000.00
      Intangible Assets 1,677,000.00 1,704,000.00 1,745,000.00 1,794,000.00 1,754,000.00
      Long-Term Investments 65,859,000.00 63,864,000.00 66,726,000.00 71,213,000.00 74,310,000.00
      Non-Current Deferred Assets 0 0 0 0 0
      Other Non-Current Assets 0 0 0 0 0
Liabilities 191,796,000.00 188,867,000.00 192,266,000.00 193,282,000.00 193,534,000.00
      Payables and Expenses 1,943,000.00 1,970,000.00 1,722,000.00 2,137,000.00 2,034,000.00
            Account Payables 0 0 0 0 0
            Current Accrued Liabilities 0 0 0 0 0
      Short-Term Debt 4,768,000.00 3,068,000.00 5,164,000.00 4,158,000.00 1,046,000.00
      Other Current Liabilities 0 0 0 0 0
      Long-Term Debt 13,677,000.00 14,492,000.00 14,539,000.00 14,337,000.00 17,096,000.00
      Other Non-Current Liabilities 0 0 0 0 0
Equity 21,107,000.00 21,124,000.00 20,403,000.00 19,645,000.00 20,784,000.00
   Shareholders Equity 21,107,000.00 21,124,000.00 20,403,000.00 19,645,000.00 20,784,000.00
      Capital Stock 3,821,000.00 4,167,000.00 4,167,000.00 4,167,000.00 4,167,000.00
      Share Premium 3,813,000.00 3,794,000.00 3,773,000.00 3,804,000.00 3,784,000.00
      Retained Earnings 25,057,000.00 24,718,000.00 24,377,000.00 24,150,000.00 23,820,000.00
      Treasury Shares 8,308,000.00 8,009,000.00 8,019,000.00 7,840,000.00 7,541,000.00
      Accumulated Other Comprehensive Income -3,276,000.00 -3,546,000.00 -3,895,000.00 -4,636,000.00 -3,446,000.00
   Minority Interest 0 0 0 0 0
Debt 18,445,000.00 17,560,000.00 19,703,000.00 18,495,000.00 18,142,000.00
Net Debt 15,544,000.00 14,588,000.00 16,694,000.00 15,481,000.00 14,927,000.00
Common Shares Outstanding 660,973.45 667,709.71 667,272.07 669,853.83 676,268.73
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Revenues 2,279,000.00 2,223,000.00 2,080,000.00 2,143,000.00 2,063,000.00
Interest Income 2,519,000.00 2,484,000.00 2,432,000.00 2,529,000.00 2,669,000.00
Interest Expense 999,000.00 989,000.00 995,000.00 1,091,000.00 1,248,000.00
Non-Interest Expense 1,238,000.00 1,235,000.00 1,245,000.00 1,173,000.00 1,180,000.00
   Selling, General and Administrative Expenses 804,000.00 830,000.00 838,000.00 748,000.00 772,000.00
EBT 837,000.00 808,000.00 653,000.00 765,000.00 728,000.00
Income Tax 188,000.00 180,000.00 138,000.00 145,000.00 155,000.00
Net Income Including Non-Controlling Interests 649,000.00 628,000.00 515,000.00 620,000.00 573,000.00
Net Income 608,000.00 591,000.00 478,000.00 582,000.00 532,000.00
Deprecation and Amortization 139,000.00 138,000.00 135,000.00 124,000.00 123,000.00
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 666,426.89 670,787.00 671,052.00 675,307.00 680,895.00
Average Shares Outstanding Diluted 670,877.55 674,034.00 676,040.00 681,456.00 686,109.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Operating Cash Flow 1,046,000.00 1,306,000.00 1,233,000.00 -101,000.00 1,860,000.00
   Operating Net Income 649,000.00 627,000.00 515,000.00 620,000.00 572,000.00
   Deprecation and Amortization 139,000.00 138,000.00 135,000.00 124,000.00 123,000.00
   Deferred Income Tax 56,000.00 -18,000.00 5,000.00 64,000.00 10,000.00
   Share Based Compensation 27,000.00 35,000.00 73,000.00 31,000.00 33,000.00
   Change in Working Capital -101,000.00 483,000.00 142,000.00 -1,030,000.00 881,000.00
   Other Operating Activities 276,000.00 41,000.00 363,000.00 90,000.00 241,000.00
Investing Cash Flow -3,364,000.00 2,442,000.00 -67,000.00 1,143,000.00 -1,155,000.00
   Capital Expenditure 0 0 0 0 0
   Net Purchase/Sale of PPE -213,000.00 -191,000.00 -130,000.00 -113,000.00 -97,000.00
   Net Purchase/Sale of Investments Net -2,053,000.00 3,000,000.00 2,566,000.00 4,491,000.00 -754,000.00
   Net Purchase/Sale of Business -36,000.00 0 0 0 0
   Other Investing Activities -1,062,000.00 -367,000.00 -2,503,000.00 -3,235,000.00 -304,000.00
Financing Cash Flow 2,247,000.00 -3,785,000.00 -1,171,000.00 -1,243,000.00 -327,000.00
   Net Issuance/Repayment of Debt 840,000.00 -2,206,000.00 1,154,000.00 472,000.00 -369,000.00
   Net Issuance/Repurchase of Equity -300,000.00 0 -225,000.00 -300,000.00 -200,000.00
   Dividends Paid -285,000.00 -284,000.00 -297,000.00 -289,000.00 -320,000.00
   Other Financing Activities 1,992,000.00 -1,295,000.00 -1,803,000.00 -1,126,000.00 562,000.00
Net Change in Cash -71,000.00 -37,000.00 -5,000.00 -201,000.00 378,000.00
   Cash at Beginning of Period 2,972,000.00 3,009,000.00 3,014,000.00 3,215,000.00 2,837,000.00
   Cash at End of Period 2,901,000.00 2,972,000.00 3,009,000.00 3,014,000.00 3,215,000.00
Free Cash Flow 833,000.00 1,115,000.00 1,103,000.00 -228,000.00 1,729,000.00