Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings -121.18 -48.93 -16.65 -85.66
Price to Sales 12.12 11.43 7.96 26.29
Book Value Per Common Share 5.28 5.44 5.75 4.62
Price to Book 10.32 7.28 3.59 13.71
Price to Operating Cash Flow 53.86 60.18 36.43 355.33
Price to Free Cash Flow 54.62 61.17 40.19 422.32
Enterprise Value to EBITDA 907663.99 1844665.24 5027351.65
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings 447.00 559.00 -324.09 5453.00 -295.69
Price to Sales 27.58 26.50 31.79 34.93 36.63
Book Value Per Common Share 5.48 5.36 5.22 5.28 5.14
Price to Book 6.53 6.26 6.83 10.32 7.48
Price to Operating Cash Flow 81.96 87.66 -83.80 71.04 213.08
Price to Free Cash Flow 82.76 89.66 -83.16 71.30 215.83
Enterprise Value to EBITDA 2706347.51 3675941.74 2652756.49 581047.92

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY
Revenue YoY 32.08 39.33 66.77
EBITDA YoY 185.31
Net Profit YoY
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY 33.33
Revenue YoY 2.75 13.16 -27.78 49.41
EBITDA YoY 45.31 -31.99 -85.65
Net Profit YoY 25.66

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 2.84 1.93 1.45 5.00
Quick Ratio 2.03 1.84 1.75 4.67
Current Ratio 2.08 1.90 1.79 4.73
Debt to Equity 0.41 0.33 0.25 0.22
Long-Term Debt to Equity 0.02 0.03 0.03 0.03
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 3.24 3.04 2.63 2.82 2.14
Quick Ratio 2.14 2.23 2.05 2.03 1.96
Current Ratio 2.44 2.57 2.47 2.08 2.18
Debt to Equity 0.37 0.34 0.34 0.41 0.34
Long-Term Debt to Equity 0.02 0.02 0.02 0.02 0.03

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA -5.98 -11.13 -16.81 -8.86
ROE -8.46 -14.83 -21.05 -10.77
Gross Margin 45.09 40.99 38.67 37.28
Operating Margin -9.02 -24.05 -46.28 -26.77
EBITDA Margin 13.50 6.25 -2.65 7.73
Net Profit Margin -10.04 -23.48 -47.77 -30.55
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA 1.03 0.86 -1.51 0.12 -1.93
ROE 1.41 1.15 -2.02 0.17 -2.60
Gross Margin 45.13 45.45 44.28 45.13 45.50
Operating Margin 7.73 4.89 -10.10 1.97 -11.95
EBITDA Margin 10.19 7.21 11.99 60.37 -9.14
Net Profit Margin 5.97 4.88 -9.40 0.57 -12.82

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 1,263,482.00 1,202,360.00 1,162,600.00 846,127.00
   Current Assets 723,208.00 520,463.00 374,652.00 622,460.00
      Cash and Short-Term Investments 474,440.00 317,423.00 228,199.00 509,072.00
            Cash and Cash Equivalents 254,620.00 200,081.00 165,033.00 448,623.00
            Short-Term Investments 219,820.00 117,342.00 63,166.00 60,449.00
      Net Receivables 231,563.00 185,875.00 137,842.00 105,850.00
      Inventory 0 0 0 0
      Other Current Assets 17,205.00 17,165.00 8,611.00 7,538.00
   Non-Current Assets 540,274.00 681,897.00 787,948.00 223,667.00
      Property, Plant, Equipment Net 34,869.00 33,288.00 30,001.00 23,377.00
      Goodwill 367,566.00 367,566.00 367,566.00 0
      Intangible Assets 59,212.00 78,024.00 98,458.00 0
      Long-Term Investments 1,079.00 0 0 0
      Non-Current Deferred Assets 3,787.00 2,668.00 1,996.00 1,314.00
      Other Non-Current Assets 73,761.00 200,351.00 0 0
Liabilities 370,049.00 300,381.00 234,479.00 150,377.00
   Current Liabilities 348,441.00 273,512.00 209,580.00 131,574.00
      Payables and Expenses 277,187.00 225,635.00 172,877.00 109,165.00
            Account Payables 79,559.00 50,943.00 52,220.00 24,064.00
            Current Accrued Liabilities 25,662.00 25,806.00 16,185.00 11,668.00
      Short-Term Debt 4,347.00 4,031.00 3,245.00 2,517.00
      Other Current Liabilities 66,907.00 43,846.00 33,458.00 19,892.00
   Non-Current Liabilities 21,608.00 26,869.00 24,899.00 18,803.00
      Long-Term Debt 20,510.00 19,291.00 16,579.00 18,803.00
      Other Non-Current Liabilities 1,098.00 7,578.00 8,320.00 0.00
Equity 893,433.00 901,979.00 928,121.00 695,750.00
   Shareholders Equity 893,433.00 901,979.00 928,121.00 695,750.00
      Capital Stock 0 0 0 0
      Share Premium 1,425,317.00 1,360,250.00 1,253,093.00 823,550.00
      Retained Earnings -532,399.00 -456,851.00 -323,046.00 -127,641.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income 515.00 -1,420.00 -1,926.00 -159.00
   Minority Interest 0 0 0 0
Debt 24,857.00 23,322.00 19,824.00 21,320.00
Common Shares Outstanding 169,131.27 165,773.91 161,316.54 150,456.50
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 752,764.00 569,946.00 409,049.00 245,274.00
Cost Of Revenue 413,331.00 336,343.00 250,871.00 153,841.00
Interest Expense 0 0 12,093.00 8,570.00
Non-Interest Expense 301,874.00 273,094.00 266,296.00 127,330.00
Gross Profit 339,433.00 233,603.00 158,178.00 91,433.00
Operating Expenses 407,361.00 370,662.00 347,502.00 157,091.00
   Selling, General and Administrative Expenses 301,874.00 273,094.00 266,296.00 127,330.00
   Research and Development Expenses 105,487.00 97,568.00 81,206.00 29,761.00
Operating Income -67,928.00 -137,059.00 -189,324.00 -65,658.00
EBT -79,393.00 -131,797.00 -201,417.00 -74,228.00
Income Tax -3,845.00 2,008.00 -6,012.00 705.00
Net Income Including Non-Controlling Interests -75,548.00 -133,805.00 -195,405.00 -74,933.00
Net Income -75,548.00 -133,805.00 -195,405.00 -74,933.00
EBIT -67,928.00 -137,059.00 -189,324.00 -65,658.00
Deprecation and Amortization 169,537.00 172,673.00 178,465.00 84,629.00
EBITDA 101,609.00 35,614.00 -10,859.00 18,971.00
EPS -0.00 -0.00 -0.00 -0.00
Diluted EPS -0.00 -0.00 -0.00 -0.00
Average Shares Outstanding Basic 167,323.35 164,353.91 157,691.17 101,737.03
Average Shares Outstanding Diluted 167,323.35 164,353.91 157,691.17 101,737.03
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 169,393.00 108,222.00 89,328.00 18,151.00
   Operating Net Income -75,548.00 -133,805.00 -195,405.00 -74,933.00
   Deprecation and Amortization 169,537.00 172,673.00 178,465.00 84,629.00
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 39,158.00 44,960.00 38,909.00 12,001.00
   Change in Working Capital 32,907.00 26,966.00 60,665.00 -11,985.00
   Other Operating Activities 3,339.00 -2,572.00 6,694.00 8,439.00
Investing Cash Flow -105,116.00 -55,039.00 -330,101.00 -40,489.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE -2,335.00 -1,741.00 -8,352.00 -2,883.00
   Net Purchase/Sale of Investments Net -102,781.00 -53,298.00 -4,266.00 -37,586.00
   Net Purchase/Sale of Business 0 0 -317,483.00 0
   Other Investing Activities 0.00 0.00 0.00 -20.00
Financing Cash Flow 3,276.00 1,991.00 1,239.00 398,607.00
   Net Issuance/Repayment of Debt 0 0 0 0
   Net Issuance/Repurchase of Equity 0 0 0 396,494.00
   Dividends Paid 0 0 0 0
   Other Financing Activities 0 0 1,239.00 2,113.00
Net Change in Cash 67,553.00 55,174.00 -239,534.00 376,269.00
   Cash at Beginning of Period 268,597.00 211,522.00 458,899.00 85,033.00
   Cash at End of Period 331,682.00 268,597.00 211,522.00 458,899.00
Free Cash Flow 167,058.00 106,481.00 80,976.00 15,268.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Assets 1,278,512.00 1,215,794.00 1,181,737.00 1,263,482.00 1,167,062.00
   Current Assets 791,126.00 735,023.00 683,984.00 723,208.00 594,692.00
      Cash and Short-Term Investments 552,423.00 515,483.00 444,833.00 474,440.00 358,480.00
            Cash and Cash Equivalents 251,383.00 205,230.00 207,716.00 254,620.00 207,318.00
            Short-Term Investments 301,040.00 310,253.00 237,117.00 219,820.00 151,162.00
      Net Receivables 140,834.00 122,553.00 122,184.00 231,563.00 177,515.00
      Inventory 0 0 0 0 0
      Other Current Assets 97,869.00 96,987.00 116,967.00 17,205.00 58,697.00
   Non-Current Assets 487,386.00 480,771.00 497,753.00 540,274.00 572,370.00
      Property, Plant, Equipment Net 32,926.00 33,726.00 33,818.00 34,869.00 35,663.00
      Goodwill 375,399.00 367,566.00 367,566.00 367,566.00 367,566.00
      Intangible Assets 57,418.00 50,408.00 54,810.00 59,212.00 63,614.00
      Long-Term Investments 9,053.00 8,510.00 8,213.00 1,079.00 0
      Non-Current Deferred Assets 4,033.00 3,978.00 3,836.00 3,787.00 3,531.00
      Other Non-Current Assets 8,557.00 16,583.00 29,510.00 73,761.00 0
Liabilities 345,520.00 306,709.00 297,482.00 370,049.00 297,680.00
   Current Liabilities 324,664.00 285,541.00 276,886.00 348,441.00 272,790.00
      Payables and Expenses 319,833.00 280,839.00 272,520.00 277,187.00 268,439.00
            Account Payables 56,355.00 52,860.00 67,184.00 79,559.00 42,383.00
            Current Accrued Liabilities 156,267.00 135,603.00 117,852.00 25,662.00 105,636.00
      Short-Term Debt 4,831.00 4,702.00 4,366.00 4,347.00 4,351.00
      Other Current Liabilities 0.00 0.00 0.00 66,907.00 0.00
   Non-Current Liabilities 20,856.00 21,168.00 20,596.00 21,608.00 24,890.00
      Long-Term Debt 19,142.00 19,945.00 19,508.00 20,510.00 21,230.00
      Other Non-Current Liabilities 1,714.00 1,223.00 1,088.00 1,098.00 3,660.00
Equity 932,992.00 909,085.00 884,255.00 893,433.00 869,382.00
   Shareholders Equity 932,992.00 909,085.00 884,255.00 893,433.00 869,382.00
      Capital Stock 1,455,622.00 1,444,618.00 1,434,341.00 0 1,403,677.00
      Share Premium 0 0 0 1,425,317.00 0
      Retained Earnings -526,581.00 -539,764.00 -550,255.00 -532,399.00 -533,908.00
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income 3,951.00 4,231.00 169.00 515.00 -387.00
   Minority Interest 0 0 0 0 0
Debt 23,973.00 24,647.00 23,874.00 24,857.00 25,581.00
Common Shares Outstanding 0 169,726.07 169,435.30 169,131.27 169,131.27
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Revenues 220,779.00 214,877.00 189,882.00 262,912.00 175,971.00
Cost Of Revenue 121,133.00 117,206.00 105,798.00 144,253.00 95,913.00
Interest Expense 3,103.00 0 0 0 1,189.00
Non-Interest Expense 51,750.00 56,425.00 75,131.00 85,193.00 74,101.00
Gross Profit 99,646.00 97,671.00 84,084.00 118,659.00 80,058.00
Operating Expenses 82,570.00 87,158.00 103,269.00 113,477.00 101,090.00
   Selling, General and Administrative Expenses 51,750.00 56,425.00 75,131.00 85,193.00 74,101.00
   Research and Development Expenses 30,820.00 30,733.00 28,138.00 28,284.00 26,989.00
Operating Income 17,076.00 10,513.00 -19,185.00 5,182.00 -21,032.00
EBT 13,973.00 11,491.00 -17,315.00 -891.00 -22,221.00
Income Tax 790.00 1,000.00 541.00 -2,400.00 343.00
Net Income Including Non-Controlling Interests 13,183.00 10,491.00 -17,856.00 1,509.00 -22,564.00
Net Income 13,183.00 10,491.00 -17,856.00 1,509.00 -22,564.00
EBIT 17,076.00 10,513.00 -19,185.00 5,182.00 -21,032.00
Deprecation and Amortization 5,427.00 4,973.00 41,955.00 153,543.00 4,951.00
EBITDA 22,503.00 15,486.00 22,770.00 158,725.00 -16,081.00
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 170,306.11 169,788.92 169,346.77 168,419.80 167,687.94
Average Shares Outstanding Diluted 175,965.45 175,588.44 169,346.77 175,674.93 167,687.94
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Operating Cash Flow 74,297.00 64,956.00 -72,047.00 129,286.00 30,255.00
   Operating Net Income 13,183.00 10,491.00 -17,856.00 1,509.00 -22,564.00
   Deprecation and Amortization 5,427.00 4,973.00 41,955.00 153,543.00 4,951.00
   Deferred Income Tax 0 0 0 0 0
   Share Based Compensation 10,323.00 10,058.00 8,793.00 9,538.00 9,708.00
   Change in Working Capital 39,037.00 33,935.00 -102,620.00 73,312.00 3,270.00
   Other Operating Activities 6,327.00 5,499.00 -2,319.00 -108,616.00 34,890.00
Investing Cash Flow -8,092.00 -72,652.00 -21,230.00 -68,771.00 -39,428.00
   Capital Expenditure 0 0 0 0 0
   Net Purchase/Sale of PPE -715.00 -1,440.00 -548.00 -482.00 -398.00
   Net Purchase/Sale of Investments Net 10,380.00 -71,212.00 -20,682.00 -68,289.00 -39,030.00
   Net Purchase/Sale of Business -17,757.00 0 0 0 0
   Other Investing Activities 0.00 0 0 0 0.00
Financing Cash Flow 583.00 191.00 210.00 1,635.00 586.00
   Net Issuance/Repayment of Debt 0 0 0 0 0
   Net Issuance/Repurchase of Equity 0 0 0 0 0
   Dividends Paid 0 0 0 0 0
   Other Financing Activities 583.00 191.00 210.00 1,635.00 586.00
Net Change in Cash 66,788.00 -7,505.00 -93,067.00 62,150.00 -8,587.00
   Cash at Beginning of Period 238,632.00 240,092.00 331,682.00 273,086.00 279,277.00
   Cash at End of Period 306,569.00 238,632.00 240,092.00 331,682.00 273,086.00
Free Cash Flow 73,582.00 63,516.00 -72,595.00 128,804.00 29,857.00