GFS
Valuation Ratios
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Price to Earnings | -89.40 | 32.76 | 20.03 | -129.94 |
| Price to Sales | 3.52 | 4.53 | 3.58 | 5.01 |
| Book Value Per Common Share | 19.49 | 20.06 | 18.10 | 14.99 |
| Price to Book | 2.20 | 3.02 | 2.98 | 4.33 |
| Price to Operating Cash Flow | 13.78 | 15.74 | 11.07 | 11.63 |
| Price to Free Cash Flow | 21.63 | 104.21 | -66.77 | 30.79 |
| Enterprise Value to EBITDA | 157748.55 | 127257.01 | 90910.06 | 224230.80 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Price to Earnings | 79.64 | 93.17 | 97.13 | -32.51 | 125.78 |
| Price to Sales | 11.78 | 12.56 | 12.90 | 12.97 | 12.78 |
| Book Value Per Common Share | 21.08 | 20.57 | 19.93 | 19.49 | 20.87 |
| Price to Book | 1.70 | 1.86 | 1.85 | 2.20 | 1.93 |
| Price to Operating Cash Flow | 33.43 | 49.19 | 61.77 | 51.92 | 59.25 |
| Price to Free Cash Flow | 49.00 | 77.94 | 123.94 | 73.69 | 104.30 |
| Enterprise Value to EBITDA | 391266.48 | 399242.30 | 407059.41 | 382204.11 |
Earnings Data
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Earning YoY | -31.23 | |||
| Revenue YoY | -8.69 | -8.83 | 23.13 | |
| EBITDA YoY | -42.94 | -18.82 | 110.71 | |
| Net Profit YoY | -29.56 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Earning YoY | 9.76 | 7.89 | |||
| Revenue YoY | 0.00 | 6.50 | -13.39 | 5.23 | |
| EBITDA YoY | -4.14 | 5.57 | |||
| Net Profit YoY | 8.77 | 8.57 |
Financial Strength
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Cash Per Common Share | 6.15 | 6.29 | 5.66 | 5.83 |
| Quick Ratio | 1.57 | 1.56 | 1.33 | 1.32 |
| Current Ratio | 2.11 | 2.04 | 1.73 | 1.67 |
| Debt to Equity | 0.55 | 0.62 | 0.79 | 0.87 |
| Long-Term Debt to Equity | 0.27 | 0.34 | 0.45 | 0.48 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Cash Per Common Share | 6.03 | 5.75 | 5.23 | 6.15 | 6.39 |
| Quick Ratio | 2.24 | 1.92 | 1.77 | 1.57 | 1.76 |
| Current Ratio | 3.03 | 2.63 | 2.51 | 2.11 | 2.42 |
| Debt to Equity | 0.42 | 0.47 | 0.48 | 0.55 | 0.56 |
| Long-Term Debt to Equity | 0.24 | 0.25 | 0.27 | 0.27 | 0.33 |
Profitability
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| ROA | -1.58 | 5.65 | 8.12 | -1.66 |
| ROE | -2.45 | 9.15 | 14.54 | -3.11 |
| Gross Margin | 24.46 | 28.42 | 27.61 | 15.38 |
| Operating Margin | -0.95 | 16.03 | 20.03 | -1.17 |
| EBITDA Margin | 22.28 | 35.66 | 40.05 | 23.40 |
| Net Profit Margin | -3.93 | 13.80 | 17.86 | -3.80 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| ROA | 1.48 | 1.36 | 1.27 | -4.35 | 0.98 |
| ROE | 2.11 | 1.99 | 1.89 | -6.74 | 1.53 |
| Gross Margin | 24.82 | 24.17 | 22.40 | 24.54 | 23.81 |
| Operating Margin | 11.55 | 11.61 | 9.53 | -30.44 | 10.70 |
| EBITDA Margin | 30.15 | 31.46 | 31.74 | -9.78 | 33.47 |
| Net Profit Margin | 14.69 | 13.51 | 13.25 | -39.89 | 10.18 |
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 | 16,799,000.00 | 18,044,000.00 | 17,841,000.00 | 15,028,000.00 |
| Current Assets | 6,416,000.00 | 6,327,000.00 | 5,800,000.00 | 5,291,000.00 |
| Cash and Short-Term Investments | 3,399,000.00 | 3,472,000.00 | 3,053,000.00 | 2,962,000.00 |
| Cash and Cash Equivalents | 2,192,000.00 | 2,387,000.00 | 2,352,000.00 | 2,939,000.00 |
| Short-Term Investments | 1,207,000.00 | 1,085,000.00 | 701,000.00 | 23,000.00 |
| Net Receivables | 1,393,000.00 | 1,368,000.00 | 1,408,000.00 | 1,208,000.00 |
| Inventory | 1,624,000.00 | 1,487,000.00 | 1,339,000.00 | 1,121,000.00 |
| Other Current Assets | 0.00 | 0.00 | 0.00 | 0.00 |
| Non-Current Assets | 10,383,000.00 | 11,717,000.00 | 12,041,000.00 | 9,737,000.00 |
| Property, Plant, Equipment Net | 8,260,000.00 | 10,164,000.00 | 10,596,000.00 | 8,713,000.00 |
| Goodwill | 75,000.00 | 18,000.00 | 18,000.00 | 18,000.00 |
| Intangible Assets | 585,000.00 | 373,000.00 | 345,000.00 | 359,000.00 |
| Long-Term Investments | 924,000.00 | 578,000.00 | 509,000.00 | 0 |
| Non-Current Deferred Assets | 188,000.00 | 241,000.00 | 292,000.00 | 353,000.00 |
| Other Non-Current Assets | 351,000.00 | 343,000.00 | 281,000.00 | 294,000.00 |
| Liabilities | 5,975,000.00 | 6,893,000.00 | 7,881,000.00 | 6,995,000.00 |
| Current Liabilities | 3,044,000.00 | 3,099,000.00 | 3,359,000.00 | 3,163,000.00 |
| Payables and Expenses | 1,119,000.00 | 1,335,000.00 | 2,159,000.00 | 1,935,000.00 |
| Account Payables | 406,000.00 | 511,000.00 | 532,000.00 | 551,000.00 |
| Current Accrued Liabilities | 522,000.00 | 496,000.00 | 573,000.00 | 603,000.00 |
| Short-Term Debt | 843,000.00 | 603,000.00 | 298,000.00 | 432,000.00 |
| Other Current Liabilities | 1,082,000.00 | 1,161,000.00 | 902,000.00 | 796,000.00 |
| Non-Current Liabilities | 2,931,000.00 | 3,794,000.00 | 4,522,000.00 | 3,832,000.00 |
| Long-Term Debt | 1,477,000.00 | 2,151,000.00 | 2,558,000.00 | 2,007,000.00 |
| Other Non-Current Liabilities | 1,454,000.00 | 1,643,000.00 | 1,964,000.00 | 1,825,000.00 |
| Equity | 10,824,000.00 | 11,151,000.00 | 9,960,000.00 | 8,033,000.00 |
| Shareholders Equity | 10,776,000.00 | 11,104,000.00 | 9,913,000.00 | 7,975,000.00 |
| Capital Stock | 11,000.00 | 11,000.00 | 11,000.00 | 11,000.00 |
| Share Premium | 24,014,000.00 | 24,027,000.00 | 23,831,000.00 | 23,487,000.00 |
| Retained Earnings | -13,266,000.00 | -13,001,000.00 | -14,021,000.00 | -15,469,000.00 |
| Treasury Shares | 0 | 0 | 0 | 0 |
| Accumulated Other Comprehensive Income | 17,000.00 | 67,000.00 | 92,000.00 | -54,000.00 |
| Minority Interest | 48,000.00 | 47,000.00 | 47,000.00 | 58,000.00 |
| Debt | 2,320,000.00 | 2,754,000.00 | 2,856,000.00 | 2,439,000.00 |
| Net Debt | 0 | 0 | 159,000.00 | 0 |
| Common Shares Outstanding | 552,912.82 | 553,548.19 | 547,754.99 | 531,845.74 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Revenues | 6,750,000.00 | 7,392,000.00 | 8,108,000.00 | 6,585,000.00 |
| Cost Of Revenue | 5,099,000.00 | 5,291,000.00 | 5,869,000.00 | 5,572,000.00 |
| Interest Income | 201,000.00 | 149,000.00 | 51,000.00 | 6,000.00 |
| Interest Expense | 106,000.00 | 101,000.00 | 92,000.00 | 99,000.00 |
| Non-Interest Expense | 401,000.00 | 448,000.00 | 451,000.00 | 546,000.00 |
| Gross Profit | 1,651,000.00 | 2,101,000.00 | 2,239,000.00 | 1,013,000.00 |
| Operating Expenses | 923,000.00 | 901,000.00 | 978,000.00 | 1,073,000.00 |
| Selling, General and Administrative Expenses | 401,000.00 | 448,000.00 | 451,000.00 | 546,000.00 |
| Research and Development Expenses | 496,000.00 | 428,000.00 | 482,000.00 | 478,000.00 |
| Operating Income | 728,000.00 | 1,200,000.00 | 1,261,000.00 | -60,000.00 |
| Net Non-Operating Income | 70,000.00 | 21,000.00 | 22,000.00 | -8,000.00 |
| EBT | -170,000.00 | 1,084,000.00 | 1,532,000.00 | -176,000.00 |
| Income Tax | 92,000.00 | 66,000.00 | 86,000.00 | 78,000.00 |
| Net Income Including Non-Controlling Interests | -262,000.00 | 1,018,000.00 | 1,446,000.00 | -254,000.00 |
| Net Income Non-Controlling Interests | -3,000.00 | 2,000.00 | 2,000.00 | 4,000.00 |
| Net Income | -265,000.00 | 1,020,000.00 | 1,448,000.00 | -250,000.00 |
| EBIT | -64,000.00 | 1,185,000.00 | 1,624,000.00 | -77,000.00 |
| Deprecation and Amortization | 1,568,000.00 | 1,451,000.00 | 1,623,000.00 | 1,618,000.00 |
| EBITDA | 1,504,000.00 | 2,636,000.00 | 3,247,000.00 | 1,541,000.00 |
| EPS | -0.00 | 0.00 | 0.00 | -0.00 |
| Diluted EPS | -0.00 | 0.00 | 0.00 | -0.00 |
| Average Shares Outstanding Basic | 553,000.00 | 552,000.00 | 539,000.00 | 508,000.00 |
| Average Shares Outstanding Diluted | 553,000.00 | 556,000.00 | 552,000.00 | 508,000.00 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Operating Cash Flow | 1,722,000.00 | 2,125,000.00 | 2,624,000.00 | 2,839,000.00 |
| Operating Net Income | -262,000.00 | 1,018,000.00 | 1,446,000.00 | -254,000.00 |
| Deprecation and Amortization | 1,568,000.00 | 1,451,000.00 | 1,623,000.00 | 1,618,000.00 |
| Deferred Income Tax | 72,000.00 | 50,000.00 | 82,000.00 | 93,000.00 |
| Share Based Compensation | 186,000.00 | 150,000.00 | 181,000.00 | 223,000.00 |
| Change in Working Capital | -619,000.00 | -507,000.00 | -166,000.00 | 1,230,000.00 |
| Other Operating Activities | 777,000.00 | -37,000.00 | -542,000.00 | -71,000.00 |
| Investing Cash Flow | -1,125,000.00 | -1,882,000.00 | -4,058,000.00 | -1,450,000.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | -569,000.00 | -1,780,000.00 | -3,018,000.00 | -1,443,000.00 |
| Net Purchase/Sale of Investments Net | -496,000.00 | -474,000.00 | -996,000.00 | 0 |
| Net Purchase/Sale of Business | -69,000.00 | 236,000.00 | 0 | 0 |
| Other Investing Activities | 9,000.00 | 136,000.00 | -44,000.00 | -7,000.00 |
| Financing Cash Flow | -785,000.00 | -212,000.00 | 842,000.00 | 650,000.00 |
| Net Issuance/Repayment of Debt | -606,000.00 | -259,000.00 | 581,000.00 | -911,000.00 |
| Net Issuance/Repurchase of Equity | -177,000.00 | 42,000.00 | 168,000.00 | 1,444,000.00 |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Other Financing Activities | -2,000.00 | 5,000.00 | 93,000.00 | 117,000.00 |
| Net Change in Cash | -188,000.00 | 31,000.00 | -592,000.00 | 2,039,000.00 |
| Cash at Beginning of Period | 2,387,000.00 | 2,352,000.00 | 2,939,000.00 | 908,000.00 |
| Cash at End of Period | 2,192,000.00 | 2,387,000.00 | 2,352,000.00 | 2,939,000.00 |
| Free Cash Flow | 1,097,000.00 | 321,000.00 | -435,000.00 | 1,072,000.00 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Assets | 16,708,000.00 | 16,803,000.00 | 16,479,000.00 | 16,799,000.00 | 18,105,000.00 |
| Current Assets | 6,326,000.00 | 6,356,000.00 | 6,105,000.00 | 6,416,000.00 | 6,598,000.00 |
| Cash and Short-Term Investments | 3,349,000.00 | 3,191,000.00 | 2,895,000.00 | 3,399,000.00 | 3,530,000.00 |
| Cash and Cash Equivalents | 2,016,000.00 | 1,790,000.00 | 1,596,000.00 | 2,192,000.00 | 2,286,000.00 |
| Short-Term Investments | 1,333,000.00 | 1,401,000.00 | 1,299,000.00 | 1,207,000.00 | 1,244,000.00 |
| Net Receivables | 1,332,000.00 | 1,439,000.00 | 1,397,000.00 | 1,393,000.00 | 1,266,000.00 |
| Inventory | 1,645,000.00 | 1,726,000.00 | 1,813,000.00 | 1,624,000.00 | 1,802,000.00 |
| Other Current Assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Non-Current Assets | 10,382,000.00 | 10,447,000.00 | 10,374,000.00 | 10,383,000.00 | 11,507,000.00 |
| Property, Plant, Equipment Net | 7,821,000.00 | 8,000,000.00 | 8,125,000.00 | 8,260,000.00 | 9,442,000.00 |
| Goodwill | 0 | 0 | 0 | 75,000.00 | 0 |
| Intangible Assets | 0 | 0 | 0 | 585,000.00 | 0 |
| Long-Term Investments | 1,104,000.00 | 975,000.00 | 820,000.00 | 924,000.00 | 998,000.00 |
| Non-Current Deferred Assets | 239,000.00 | 270,000.00 | 250,000.00 | 188,000.00 | 197,000.00 |
| Other Non-Current Assets | 0 | 0 | 0 | 351,000.00 | 0 |
| Liabilities | 4,942,000.00 | 5,335,000.00 | 5,375,000.00 | 5,975,000.00 | 6,523,000.00 |
| Current Liabilities | 2,087,000.00 | 2,414,000.00 | 2,428,000.00 | 3,044,000.00 | 2,723,000.00 |
| Payables and Expenses | 1,158,000.00 | 1,140,000.00 | 1,244,000.00 | 1,119,000.00 | 2,003,000.00 |
| Account Payables | 513,000.00 | 389,000.00 | 430,000.00 | 406,000.00 | 2,003,000.00 |
| Current Accrued Liabilities | 412,000.00 | 481,000.00 | 591,000.00 | 522,000.00 | 0 |
| Short-Term Debt | 133,000.00 | 137,000.00 | 134,000.00 | 843,000.00 | 634,000.00 |
| Other Current Liabilities | 796,000.00 | 1,137,000.00 | 1,050,000.00 | 1,082,000.00 | 86,000.00 |
| Non-Current Liabilities | 2,855,000.00 | 2,921,000.00 | 2,947,000.00 | 2,931,000.00 | 3,800,000.00 |
| Long-Term Debt | 1,530,000.00 | 1,547,000.00 | 1,497,000.00 | 1,477,000.00 | 2,215,000.00 |
| Other Non-Current Liabilities | 1,325,000.00 | 1,374,000.00 | 1,450,000.00 | 1,454,000.00 | 1,585,000.00 |
| Equity | 11,766,000.00 | 11,468,000.00 | 11,104,000.00 | 10,824,000.00 | 11,582,000.00 |
| Shareholders Equity | 11,712,000.00 | 11,415,000.00 | 11,054,000.00 | 10,776,000.00 | 11,533,000.00 |
| Capital Stock | 11,000.00 | 11,000.00 | 11,000.00 | 11,000.00 | 11,000.00 |
| Share Premium | 24,169,000.00 | 24,096,000.00 | 24,046,000.00 | 24,014,000.00 | 23,971,000.00 |
| Retained Earnings | -12,580,000.00 | -12,828,000.00 | -13,056,000.00 | -13,266,000.00 | -12,536,000.00 |
| Treasury Shares | 0 | 0 | 0 | 0 | 0 |
| Accumulated Other Comprehensive Income | 112,000.00 | 136,000.00 | 53,000.00 | 17,000.00 | 87,000.00 |
| Minority Interest | 54,000.00 | 53,000.00 | 50,000.00 | 48,000.00 | 49,000.00 |
| Debt | 1,663,000.00 | 1,684,000.00 | 1,631,000.00 | 2,320,000.00 | 2,849,000.00 |
| Net Debt | 0 | 0 | 0 | 0 | 27,000.00 |
| Common Shares Outstanding | 555,681.70 | 554,971.65 | 554,733.53 | 552,912.82 | 552,654.59 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Revenues | 1,688,000.00 | 1,688,000.00 | 1,585,000.00 | 1,830,000.00 | 1,739,000.00 |
| Cost Of Revenue | 1,269,000.00 | 1,280,000.00 | 1,230,000.00 | 1,381,000.00 | 1,325,000.00 |
| Non-Interest Expense | 100,000.00 | 78,000.00 | 77,000.00 | 67,000.00 | 98,000.00 |
| Gross Profit | 419,000.00 | 408,000.00 | 355,000.00 | 449,000.00 | 414,000.00 |
| Operating Expenses | 224,000.00 | 212,000.00 | 204,000.00 | 214,000.00 | 228,000.00 |
| Selling, General and Administrative Expenses | 100,000.00 | 78,000.00 | 77,000.00 | 67,000.00 | 98,000.00 |
| Research and Development Expenses | 124,000.00 | 134,000.00 | 127,000.00 | 121,000.00 | 130,000.00 |
| Operating Income | 195,000.00 | 196,000.00 | 151,000.00 | 235,000.00 | 186,000.00 |
| Net Non-Operating Income | 8,000.00 | 8,000.00 | 30,000.00 | 81,000.00 | -5,000.00 |
| EBT | 221,000.00 | 221,000.00 | 195,000.00 | -687,000.00 | 195,000.00 |
| Income Tax | -28,000.00 | -7,000.00 | -16,000.00 | 42,000.00 | 17,000.00 |
| Net Income Including Non-Controlling Interests | 249,000.00 | 228,000.00 | 211,000.00 | -729,000.00 | 178,000.00 |
| Net Income Non-Controlling Interests | -1,000.00 | 0 | -1,000.00 | -1,000.00 | -1,000.00 |
| Net Income | 248,000.00 | 228,000.00 | 210,000.00 | -730,000.00 | 177,000.00 |
| EBIT | 195,000.00 | 196,000.00 | 151,000.00 | -557,000.00 | 186,000.00 |
| Deprecation and Amortization | 314,000.00 | 335,000.00 | 352,000.00 | 378,000.00 | 396,000.00 |
| EBITDA | 509,000.00 | 531,000.00 | 503,000.00 | -179,000.00 | 582,000.00 |
| 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 | 555,000.00 | 555,000.00 | 554,000.00 | 553,000.00 | 552,000.00 |
| Average Shares Outstanding Diluted | 559,000.00 | 557,000.00 | 557,000.00 | 553,000.00 | 555,000.00 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Operating Cash Flow | 595,000.00 | 431,000.00 | 331,000.00 | 457,000.00 | 375,000.00 |
| Operating Net Income | 249,000.00 | 228,000.00 | 211,000.00 | -729,000.00 | 178,000.00 |
| Deprecation and Amortization | 314,000.00 | 335,000.00 | 352,000.00 | 378,000.00 | 396,000.00 |
| Deferred Income Tax | -6,000.00 | -20,000.00 | -64,000.00 | 6,000.00 | 37,000.00 |
| Share Based Compensation | 53,000.00 | 52,000.00 | 42,000.00 | 43,000.00 | 50,000.00 |
| Change in Working Capital | 16,000.00 | -136,000.00 | -144,000.00 | -91,000.00 | -263,000.00 |
| Other Operating Activities | -31,000.00 | -28,000.00 | -66,000.00 | 850,000.00 | -23,000.00 |
| Investing Cash Flow | -329,000.00 | -207,000.00 | -211,000.00 | -92,000.00 | -263,000.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | -104,000.00 | -116,000.00 | -131,000.00 | -178,000.00 | -132,000.00 |
| Net Purchase/Sale of Investments Net | -13,000.00 | -91,000.00 | -61,000.00 | 14,000.00 | -62,000.00 |
| Net Purchase/Sale of Business | -212,000.00 | 0 | -19,000.00 | 0 | -69,000.00 |
| Other Investing Activities | 0.00 | 0.00 | 0.00 | 72,000.00 | 0.00 |
| Financing Cash Flow | -40,000.00 | -35,000.00 | -717,000.00 | -452,000.00 | -12,000.00 |
| Net Issuance/Repayment of Debt | -20,000.00 | -36,000.00 | -733,000.00 | -452,000.00 | -10,000.00 |
| Net Issuance/Repurchase of Equity | -20,000.00 | 1,000.00 | 16,000.00 | 2,000.00 | -2,000.00 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 0.00 | 0.00 | 0.00 | -2,000.00 | 0.00 |
| Net Change in Cash | 226,000.00 | 189,000.00 | -597,000.00 | -87,000.00 | 100,000.00 |
| Cash at Beginning of Period | 1,790,000.00 | 1,596,000.00 | 2,192,000.00 | 2,286,000.00 | 2,184,000.00 |
| Cash at End of Period | 2,016,000.00 | 1,790,000.00 | 1,596,000.00 | 2,192,000.00 | 2,286,000.00 |
| Free Cash Flow | 406,000.00 | 272,000.00 | 165,000.00 | 322,000.00 | 213,000.00 |