Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 16.56 19.90 139.69 25.38
Price to Sales 3.99 3.33 4.36 7.41
Book Value Per Common Share 3.54 3.19 2.39 2.36
Price to Book 3.97 3.05 3.83 4.29
Price to Operating Cash Flow 13.48 20.19 17.79 22.40
Price to Free Cash Flow 133.08 41.72 35.25 37.22
Enterprise Value to EBITDA 114494.28 156910.15 308126.37 225254.93
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings -74.36 -31.29 39.44 61.22 41.75
Price to Sales 7.47 10.71 11.05 13.86 11.10
Book Value Per Common Share 3.80 3.91 4.14 3.54 3.57
Price to Book 2.15 3.04 3.05 3.97 2.80
Price to Operating Cash Flow 26.68 63.08 39.33 35.71 23.88
Price to Free Cash Flow 30.22 76.66 43.68 134.87 25.90
Enterprise Value to EBITDA 1087611.70 256944.58 423557.50 294016.20

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY 73.47 648.09 -83.63
Revenue YoY 17.05 42.02 80.77
EBITDA YoY 84.83 113.56 -28.90
Net Profit YoY 68.01 664.02 -80.81
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY 39.13 -4.17
Revenue YoY -1.55 -2.56 15.09 9.93
EBITDA YoY 51.32 -3.34
Net Profit YoY 41.64 -6.77

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 0.38 0.69 0.81 1.65
Quick Ratio 1.12 1.39 1.28 5.61
Current Ratio 1.17 1.45 1.32 5.75
Debt to Equity 0.45 0.30 0.59 0.14
Long-Term Debt to Equity 0.21 0.03 0.23 0.02
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 0.21 0.52 0.60 0.40 0.44
Quick Ratio 0.46 0.54 0.99 1.12 0.97
Current Ratio 0.46 0.59 1.06 1.17 1.03
Debt to Equity 1.28 1.21 1.07 0.45 0.50
Long-Term Debt to Equity 0.78 0.71 0.78 0.21 0.22

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 17.18 11.79 1.72 13.68
ROE 24.90 15.35 2.74 15.58
Gross Margin 94.07 91.61 96.13 100.00
Operating Margin 29.05 19.37 5.06 30.32
EBITDA Margin 33.61 21.29 14.16 35.99
Net Profit Margin 24.12 16.81 3.12 29.42
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA -1.27 -4.34 3.67 4.44 4.51
ROE -2.89 -9.60 7.62 6.44 6.79
Gross Margin 91.25 93.15 94.47 93.81 94.76
Operating Margin -2.39 -26.50 33.74 27.76 31.61
EBITDA Margin 6.79 -17.99 43.03 32.73 37.22
Net Profit Margin -9.90 -33.88 27.65 22.47 26.49

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Dividend Yield
Dividend Payout Ratio
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 178,583.00 154,869.00 138,875.00 91,025.00
   Current Assets 34,889.00 47,367.00 41,961.00 56,544.00
      Cash and Short-Term Investments 13,729.00 25,429.00 29,664.00 51,047.00
            Cash and Cash Equivalents 13,729.00 25,429.00 29,664.00 51,047.00
            Short-Term Investments 0 0 0 0
      Net Receivables 19,465.00 19,979.00 10,766.00 4,132.00
      Inventory 0 0 75.00 0
      Other Current Assets 0 1,959.00 1,456.00 1,365.00
   Non-Current Assets 143,694.00 107,502.00 96,914.00 34,481.00
      Property, Plant, Equipment Net 6,465.00 2,368.00 2,532.00 2,034.00
      Goodwill 10,800.00 10,800.00 10,800.00 0
      Intangible Assets 120,011.00 87,200.00 77,721.00 25,419.00
      Long-Term Investments 0 0 0 0
      Non-Current Deferred Assets 6,418.00 7,134.00 5,861.00 7,028.00
      Other Non-Current Assets 0.00 0.00 0.00 0.00
Liabilities 55,395.00 35,945.00 51,766.00 11,116.00
   Current Liabilities 29,736.00 32,747.00 31,708.00 9,830.00
      Payables and Expenses 11,281.00 10,888.00 7,058.00 3,493.00
            Account Payables 2,396.00 1,862.00 1,235.00 1,045.00
            Current Accrued Liabilities 6,392.00 7,656.00 4,292.00 1,968.00
      Short-Term Debt 4,562.00 533.00 554.00 6,337.00
      Other Current Liabilities 13,893.00 21,326.00 24,096.00 0.00
   Non-Current Liabilities 25,659.00 3,198.00 20,058.00 1,286.00
      Long-Term Debt 23,401.00 1,190.00 1,518.00 1,286.00
      Other Non-Current Liabilities 2,258.00 2,008.00 18,540.00 0.00
Equity 123,188.00 118,924.00 87,109.00 79,909.00
   Shareholders Equity 123,188.00 118,924.00 87,109.00 79,909.00
      Capital Stock 0 0 0 0
      Share Premium 0 0 0 0
      Retained Earnings 75,337.00 44,658.00 26,398.00 23,796.00
      Treasury Shares 29,998.00 3,107.00 348.00 0
      Accumulated Other Comprehensive Income 67,225.00 69,959.00 56,648.00 53,671.00
   Minority Interest 0 0 0 0
Debt 27,963.00 1,723.00 2,072.00 7,623.00
Net Debt 9,202.00 0 0 0
Common Shares Outstanding 34,762.90 37,222.55 36,470.34 33,806.42
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 127,182.00 108,652.00 76,507.00 42,323.00
Cost Of Revenue 7,536.00 9,112.00 2,959.00 0
Interest Income 137.00 259.00 0 0
Interest Expense 2,798.00 900.00 971.00 668.00
Non-Interest Expense 72,593.00 65,181.00 51,277.00 27,631.00
Gross Profit 119,646.00 99,540.00 73,548.00 42,323.00
Operating Expenses 81,820.00 70,002.00 60,280.00 30,411.00
   Selling, General and Administrative Expenses 72,593.00 65,181.00 51,277.00 27,631.00
   Research and Development Expenses 0 10,287.00 6,764.00 3,947.00
   Other Operating Expenses 2,945.00 1,819.00 1,248.00 476.00
Operating Income 37,826.00 29,538.00 13,268.00 11,912.00
Net Non-Operating Income 0 0 -103.00 -100.00
EBT 34,150.00 20,141.00 2,900.00 12,164.00
Income Tax 3,471.00 1,881.00 510.00 -289.00
Net Income Including Non-Controlling Interests 30,679.00 18,260.00 2,390.00 12,453.00
Net Income 30,679.00 18,260.00 2,390.00 12,453.00
EBIT 36,948.00 21,041.00 3,871.00 12,832.00
Deprecation and Amortization 5,802.00 2,088.00 6,959.00 2,401.00
EBITDA 42,750.00 23,129.00 10,830.00 15,233.00
EPS 0.00 0.00 0.00 0.00
Diluted EPS 0.00 0.00 0.00 0.00
Average Shares Outstanding Basic 36,034.11 37,083.26 36,470.34 30,886.56
Average Shares Outstanding Diluted 36,337.35 38,542.17 36,470.34 33,746.54
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 37,638.00 17,910.00 18,755.00 13,997.00
   Operating Net Income 34,150.00 20,141.00 2,900.00 12,164.00
   Deprecation and Amortization 5,802.00 2,088.00 6,959.00 2,401.00
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 4,953.00 3,607.00 3,214.00 1,995.00
   Change in Working Capital -215.00 -6,072.00 -2,699.00 328.00
   Other Operating Activities -7,052.00 -1,854.00 8,381.00 -2,891.00
Investing Cash Flow -43,842.00 -19,474.00 -32,699.00 -5,574.00
   Capital Expenditure -1,886.00 -1,977.00 -2,036.00 0
   Net Purchase/Sale of PPE -1,326.00 -451.00 -330.00 -305.00
   Net Purchase/Sale of Investments Net 0 0 0 0
   Net Purchase/Sale of Business -10,154.00 -10,490.00 -23,411.00 0
   Other Investing Activities -30,476.00 -6,556.00 -6,922.00 0
Financing Cash Flow -5,244.00 -3,143.00 -7,310.00 34,988.00
   Net Issuance/Repayment of Debt 23,812.00 -402.00 -6,315.00 -225.00
   Net Issuance/Repurchase of Equity -26,860.00 -2,572.00 -348.00 39,060.00
   Dividends Paid 0 0 0 0
   Other Financing Activities -2,196.00 -169.00 -647.00 -3,847.00
Net Change in Cash -11,448.00 -4,707.00 -21,254.00 43,411.00
   Cash at Beginning of Period 25,429.00 29,664.00 51,047.00 8,225.00
   Cash at End of Period 13,729.00 25,429.00 29,664.00 51,047.00
Free Cash Flow 3,813.00 8,667.00 9,467.00 8,423.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30
Assets 305,115.00 308,960.00 305,906.00 178,583.00 188,535.00 0
   Current Assets 31,257.00 41,167.00 45,467.00 34,889.00 36,399.00 0
      Cash and Short-Term Investments 7,355.00 18,667.00 21,498.00 13,729.00 15,723.00 0
            Cash and Cash Equivalents 7,355.00 18,667.00 21,498.00 13,729.00 15,723.00 0
            Short-Term Investments 0 0 0 0 0 0
      Net Receivables 23,902.00 19,052.00 20,820.00 19,465.00 18,583.00 0
      Inventory 0 0 0 0 0 0
      Other Current Assets 0.00 3,448.00 3,149.00 1,695.00 2,093.00 0
   Non-Current Assets 273,858.00 267,793.00 260,439.00 143,694.00 152,136.00 0
      Property, Plant, Equipment Net 6,782.00 6,979.00 6,484.00 6,465.00 6,946.00 0
      Goodwill 0 68,530.00 68,003.00 10,800.00 10,800.00 10,800.00
      Intangible Assets 0 186,543.00 180,140.00 120,011.00 127,598.00 122,364.00
      Long-Term Investments 0 0 0 0 0 0
      Non-Current Deferred Assets 4,799.00 5,741.00 5,812.00 6,418.00 6,792.00 0
      Other Non-Current Assets 0 0.00 0.00 0.00 0.00 0
Liabilities 171,431.00 169,278.00 158,468.00 55,395.00 63,201.00 0
   Current Liabilities 67,674.00 70,059.00 42,911.00 29,736.00 35,250.00 0
      Payables and Expenses 12,548.00 12,456.00 14,689.00 11,281.00 8,480.00 0
            Account Payables 12,108.00 2,020.00 1,707.00 2,396.00 1,577.00 0
            Current Accrued Liabilities 0 5,529.00 4,440.00 6,392.00 4,800.00 4,332.00
      Short-Term Debt 11,220.00 15,697.00 11,680.00 4,562.00 4,168.00 0
      Other Current Liabilities 43,906.00 41,906.00 16,542.00 13,893.00 22,602.00 0
   Non-Current Liabilities 103,757.00 99,219.00 115,557.00 25,659.00 27,951.00 0
      Long-Term Debt 76,979.00 79,869.00 81,723.00 23,401.00 25,693.00 0
      Other Non-Current Liabilities 26,778.00 19,350.00 33,834.00 2,258.00 2,258.00 0
Equity 133,684.00 139,682.00 147,438.00 123,188.00 125,334.00 0
   Shareholders Equity 133,684.00 139,682.00 147,438.00 123,188.00 125,334.00 0
      Capital Stock 0 0 0 0 0 0
      Share Premium 0 0 0 0 0 0
      Retained Earnings 69,296.00 73,156.00 86,573.00 75,337.00 67,404.00 0
      Treasury Shares 34,679.00 29,998.00 29,998.00 29,998.00 25,233.00 0
      Accumulated Other Comprehensive Income 85,168.00 84,290.00 79,757.00 67,225.00 73,408.00 0
   Minority Interest 0 0 0 0 0 0
Debt 88,199.00 95,566.00 93,403.00 27,963.00 29,861.00 0
Net Debt 75,745.00 71,606.00 67,018.00 9,202.00 8,723.00 0
Common Shares Outstanding 35,166.90 35,712.65 35,603.15 34,762.90 35,079.34 0
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Revenues 38,982.00 39,594.00 40,635.00 35,308.00 32,118.00
Cost Of Revenue 3,410.00 2,713.00 2,246.00 2,185.00 1,683.00
Interest Income 512.00 54.00 36.00 19.00 551.00
Interest Expense 2,529.00 1,763.00 2,762.00 794.00 1,052.00
Non-Interest Expense 23,560.00 21,321.00 22,905.00 19,328.00 16,856.00
Gross Profit 35,572.00 36,881.00 38,389.00 33,123.00 30,435.00
Operating Expenses 29,485.00 29,713.00 28,035.00 21,469.00 20,832.00
   Selling, General and Administrative Expenses 23,560.00 21,321.00 22,905.00 19,328.00 16,856.00
   Other Operating Expenses 6,049.00 6,141.00 1,025.00 966.00 3,616.00
Operating Income 6,087.00 7,168.00 10,354.00 11,654.00 9,603.00
EBT -3,461.00 -12,257.00 10,949.00 9,006.00 9,102.00
Income Tax 399.00 1,158.00 -287.00 1,073.00 593.00
Net Income Including Non-Controlling Interests -3,860.00 -13,415.00 11,236.00 7,933.00 8,509.00
Net Income -3,860.00 -13,415.00 11,236.00 7,933.00 8,509.00
EBIT -932.00 -10,494.00 13,711.00 9,800.00 10,154.00
Deprecation and Amortization 3,577.00 3,373.00 3,776.00 1,756.00 1,801.00
EBITDA 2,645.00 -7,121.00 17,487.00 11,556.00 11,955.00
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 35,582.41 35,679.47 35,572.36 34,747.78 35,592.25
Average Shares Outstanding Diluted 35,582.41 35,679.47 36,219.72 35,188.86 35,833.77
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Operating Cash Flow 10,911.00 6,725.00 11,415.00 13,702.00 14,936.00
   Operating Net Income -3,461.00 -12,257.00 10,949.00 9,006.00 9,102.00
   Deprecation and Amortization 3,577.00 3,373.00 3,776.00 1,756.00 1,801.00
   Deferred Income Tax 0 0 0 0 0
   Share Based Compensation 1,728.00 2,222.00 1,409.00 1,216.00 1,180.00
   Change in Working Capital 1,749.00 1,446.00 -3,375.00 1,781.00 2,123.00
   Other Operating Activities 7,318.00 11,941.00 -1,344.00 -57.00 730.00
Investing Cash Flow -8,005.00 -8,319.00 -68,357.00 -10,167.00 -1,151.00
   Capital Expenditure -1,081.00 -964.00 -827.00 -399.00 -422.00
   Net Purchase/Sale of PPE -199.00 -226.00 -311.00 -138.00 -274.00
   Net Purchase/Sale of Investments Net 0 0 0 0 0
   Net Purchase/Sale of Business -6,736.00 -7,180.00 -67,255.00 -10,154.00 0
   Other Investing Activities 11.00 51.00 36.00 524.00 -455.00
Financing Cash Flow -14,162.00 -1,170.00 64,034.00 -5,874.00 -5,931.00
   Net Issuance/Repayment of Debt -6,302.00 -250.00 70,906.00 -705.00 -21,289.00
   Net Issuance/Repurchase of Equity -4,532.00 0 0 -4,665.00 -12,445.00
   Dividends Paid 0 0 0 0 0
   Other Financing Activities -3,328.00 -920.00 -6,872.00 -504.00 27,803.00
Net Change in Cash -11,256.00 -2,764.00 7,092.00 -2,339.00 7,854.00
   Cash at Beginning of Period 18,667.00 21,498.00 13,729.00 15,723.00 7,523.00
   Cash at End of Period 7,355.00 18,667.00 21,498.00 13,729.00 15,723.00
Free Cash Flow 9,631.00 5,535.00 10,277.00 3,626.00 13,771.00