Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 86.37 -52.25 3.12 3.25
Price to Sales 16.99 8.21 9.18 5.15
Book Value Per Common Share 19.27 19.77 23.32 15.99
Price to Book 2.20 1.16 0.98 0.77
Price to Operating Cash Flow 13.90 18.17 40.90 5.63
Price to Free Cash Flow -36.31 -12.88 -11.86 53.96
Enterprise Value to EBITDA 311981.97 466483.88 22885.28 473138.63
Breakdown 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30
Price to Earnings 269.39 474.88 294.30 125.85
Price to Sales 55.68 63.57 67.11 59.20 50.40
Book Value Per Common Share 18.44 19.05 19.27 19.45 20.06
Price to Book 2.23 1.99 2.20 1.89 1.56
Price to Operating Cash Flow 46.14 39.51 27.07 61.29 58.50
Price to Free Cash Flow -23.27 -76.44 -99.98 -221.58 118.08
Enterprise Value to EBITDA 4916982.81 2016484.13 1365853.01

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY 91.44
Revenue YoY -12.75 11.46 2.87
EBITDA YoY 175.13 -95.17 3667.55
Net Profit YoY 90.35
Breakdown 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30
Earning YoY 91.13 -44.37 -53.00
Revenue YoY 21.07 -5.18 1.71 0.18
EBITDA YoY -56.55 -39.11
Net Profit YoY 90.79 82.40

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 5.42 6.37 10.23 6.62
Quick Ratio 0.78 1.36 2.80 0.57
Current Ratio 0.88 1.49 3.04 0.71
Debt to Equity 0.84 0.57 0.48 1.27
Long-Term Debt to Equity 0.49 0.36 0.33 0.67
Breakdown 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30
Cash Per Common Share 7.66 4.99 5.42 7.01 5.07
Quick Ratio 1.32 0.67 0.78 1.43
Current Ratio 1.47 0.85 0.88 1.55 1.24
Debt to Equity 1.09 0.84 0.84 0.66 0.55
Long-Term Debt to Equity 0.74 0.47 0.49 0.43 0.33

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 1.16 -1.15 18.41 8.36
ROE 2.15 -1.80 27.16 19.00
Gross Margin 32.75 51.87 52.58 53.74
Operating Margin 33.90 0.42 379.50 -10.38
EBITDA Margin 54.46 17.27 398.82 10.89
Net Profit Margin 19.53 -15.68 294.23 159.01
Breakdown 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30
ROA 0.33 0.19 0.10 -0.80 0.63
ROE 0.68 0.34 0.19 -1.33 0.97
Gross Margin 34.23 36.29 28.65
Operating Margin -4.80 11.34 28.44 -53.72
EBITDA Margin 11.33 31.56 49.14 -32.69
Net Profit Margin 20.67 13.11 6.82 -53.67 40.05

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 226.90 -219.90 7.00 8.01
Breakdown 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30
Dividend Yield 0.00 0.00 0.00 0.00 0.00
Dividend Payout Ratio 167.43 318.97 654.72 -84.01 111.57

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 4,367,677.00 4,083,987.00 4,279,560.00 4,948,295.00
   Current Assets 739,866.00 815,564.00 1,258,506.00 925,597.00
      Cash and Short-Term Investments 566,384.00 679,225.00 1,103,626.00 716,099.00
            Cash and Cash Equivalents 566,384.00 679,225.00 878,838.00 231,849.00
            Short-Term Investments 0 0 224,788.00 484,250.00
      Net Receivables 92,465.00 63,166.00 56,123.00 34,955.00
      Inventory 2,077.00 1,990.00 692.00 536.00
      Other Current Assets 78,940.00 71,183.00 98,065.00 174,007.00
   Non-Current Assets 3,627,811.00 3,268,423.00 3,021,054.00 4,022,698.00
      Property, Plant, Equipment Net 3,347,713.00 2,647,891.00 2,294,738.00 2,152,550.00
      Goodwill 0 0 0 0
      Intangible Assets 0 0 0 0
      Long-Term Investments 43,665.00 53,982.00 104,108.00 52,215.00
      Non-Current Deferred Assets 0 0 0 0
      Other Non-Current Assets 236,433.00 566,550.00 622,208.00 1,817,933.00
Liabilities 1,998,273.00 1,481,544.00 1,379,386.00 2,770,378.00
   Current Liabilities 841,524.00 545,780.00 414,412.00 1,307,221.00
      Payables and Expenses 276,670.00 184,749.00 44,893.00 109,995.00
            Account Payables 198,906.00 7,454.00 8,983.00 4,929.00
            Current Accrued Liabilities 66,061.00 144,299.00 32,348.00 31,814.00
      Short-Term Debt 522,869.00 344,028.00 346,106.00 703,170.00
      Other Current Liabilities 41,985.00 17,003.00 23,413.00 494,056.00
   Non-Current Liabilities 1,156,749.00 935,764.00 964,974.00 1,463,157.00
      Long-Term Debt 936,097.00 880,045.00 848,133.00 927,266.00
      Other Non-Current Liabilities 220,652.00 55,719.00 116,841.00 535,891.00
Equity 2,369,404.00 2,602,443.00 2,900,174.00 2,177,917.00
   Shareholders Equity 2,014,151.00 2,067,669.00 2,500,224.00 1,730,650.00
      Capital Stock 104,535.00 104,578.00 107,226.00 108,223.00
      Share Premium 1,905,093.00 1,891,128.00 2,136,746.00 2,172,859.00
      Retained Earnings 10,266.00 77,035.00 262,063.00 -539,598.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income -5,743.00 -5,072.00 -5,811.00 -10,834.00
   Minority Interest 355,253.00 534,774.00 399,950.00 447,267.00
Debt 1,458,966.00 1,224,073.00 1,194,239.00 1,630,436.00
Net Debt 885,871.00 537,505.00 310,486.00 1,391,451.00
Common Shares Outstanding 104,534.70 104,578.08 107,225.83 108,222.60
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 260,372.00 298,429.00 267,740.00 260,273.00
Cost Of Revenue 175,109.00 143,626.00 126,958.00 120,397.00
Interest Income 43,386.00 54,417.00 12,225.00 128.00
Interest Expense 0 0 20,058.00 37,394.00
Non-Interest Expense 39,846.00 72,592.00 46,117.00 37,832.00
Gross Profit 85,263.00 154,803.00 140,782.00 139,876.00
Operating Expenses 39,377.00 49,233.00 61,534.00 37,832.00
   Selling, General and Administrative Expenses 39,846.00 72,592.00 46,117.00 37,832.00
   Other Operating Expenses -469.00 -23,359.00 15,417.00 -5,020.00
Operating Income 45,886.00 105,570.00 79,248.00 102,044.00
Net Non-Operating Income -7,000.00 0 7,148.00 -71,615.00
EBT 88,277.00 1,247.00 996,028.00 -64,414.00
Income Tax -18.00 1,870.00 -438.00 1,440.00
Net Income Including Non-Controlling Interests 80,793.00 -2,850.00 939,057.00 560,615.00
Net Income Non-Controlling Interests -29,954.00 -43,943.00 -151,284.00 -146,764.00
Net Income 50,839.00 -46,793.00 787,773.00 413,851.00
EBIT 88,277.00 1,247.00 1,016,086.00 -27,020.00
Deprecation and Amortization 53,526.00 50,294.00 51,712.00 55,362.00
EBITDA 141,803.00 51,541.00 1,067,798.00 28,342.00
EPS 0.00 -0.00 0.01 0.00
Diluted EPS 0.00 -0.00 0.01 0.00
Average Shares Outstanding Basic 104,534.70 106,620.00 107,860.00 108,222.60
Average Shares Outstanding Diluted 104,534.70 106,620.00 108,542.00 108,222.60
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 318,241.00 134,882.00 60,101.00 238,327.00
   Operating Net Income 80,793.00 -2,850.00 939,057.00 560,615.00
   Deprecation and Amortization 53,526.00 50,294.00 51,712.00 55,362.00
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 0 0 0 3,520.00
   Change in Working Capital 50,670.00 -272,447.00 -65,840.00 38,823.00
   Other Operating Activities 0 0 0 -419,993.00
Investing Cash Flow -416,981.00 -131,709.00 1,067,721.00 -74,354.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE -438,548.00 -325,214.00 -267,421.00 -213,481.00
   Net Purchase/Sale of Investments Net -5,000.00 45,552.00 625,844.00 0
   Net Purchase/Sale of Business 46,028.00 126,440.00 134,672.00 16,778.00
   Other Investing Activities -19,461.00 21,513.00 574,626.00 122,349.00
Financing Cash Flow 43,852.00 -244,953.00 -533,363.00 -51,607.00
   Net Issuance/Repayment of Debt 234,286.00 30,120.00 -443,277.00 122,718.00
   Net Issuance/Repurchase of Equity -14,180.00 -61,684.00 -25,479.00 -24,484.00
   Dividends Paid -115,352.00 -102,897.00 -55,169.00 -33,136.00
   Other Financing Activities -60,902.00 -110,492.00 -9,438.00 -116,705.00
Net Change in Cash -54,888.00 -241,411.00 674,959.00 112,366.00
   Cash at Beginning of Period 771,470.00 1,012,881.00 337,922.00 225,556.00
   Cash at End of Period 716,582.00 771,470.00 1,012,881.00 337,922.00
Free Cash Flow -121,838.00 -190,332.00 -207,320.00 24,846.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30
Assets 0 4,771,423.00 4,375,825.00 4,367,677.00 4,332,974.00 4,121,018.00
   Current Assets 0 1,172,509.00 744,038.00 739,866.00 915,202.00 725,106.00
      Cash and Short-Term Investments 0 783,427.00 521,434.00 566,384.00 732,062.00 527,591.00
            Cash and Cash Equivalents 0 783,427.00 521,434.00 566,384.00 732,062.00 527,591.00
            Short-Term Investments 0 0 0 0 0 0
      Net Receivables 232,350.00 269,610.00 59,667.00 92,465.00 116,990.00 0
      Inventory 840.00 870.00 408.00 2,077.00 2,334.00 0
      Other Current Assets 0 118,602.00 162,529.00 78,940.00 63,816.00 0
   Non-Current Assets 0 3,598,914.00 3,631,787.00 3,627,811.00 3,417,772.00 3,395,912.00
      Property, Plant, Equipment Net 2,007,313.00 1,836,623.00 3,460,654.00 3,347,713.00 3,143,418.00 0
      Goodwill 0 0 0 0 0 0
      Intangible Assets 0 0 0 0 0 0
      Long-Term Investments 0 40,060.00 25,089.00 43,665.00 48,738.00 50,153.00
      Non-Current Deferred Assets 0 0 0 0 0 0
      Other Non-Current Assets 0 1,722,231.00 146,044.00 236,433.00 225,616.00 0
Liabilities 0 2,485,353.00 1,998,439.00 1,998,273.00 1,716,152.00 1,457,009.00
   Current Liabilities 0 795,866.00 873,876.00 841,524.00 591,923.00 584,421.00
      Payables and Expenses 181,808.00 252,749.00 271,453.00 276,670.00 226,234.00 0
            Account Payables 0 82,909.00 192,518.00 198,906.00 73,695.00 88,985.00
            Current Accrued Liabilities 118,919.00 169,628.00 64,429.00 66,061.00 141,934.00 0
      Short-Term Debt 500,882.00 514,042.00 518,378.00 522,869.00 347,508.00 0
      Other Current Liabilities 0 29,075.00 84,045.00 41,985.00 18,181.00 0
   Non-Current Liabilities 0 1,689,487.00 1,124,563.00 1,156,749.00 1,124,229.00 872,588.00
      Long-Term Debt 1,423,647.00 1,442,078.00 908,248.00 936,097.00 1,082,502.00 0
      Other Non-Current Liabilities 0 247,409.00 216,315.00 220,652.00 41,727.00 0
Equity 0 2,286,070.00 2,377,386.00 2,369,404.00 2,616,822.00 2,664,009.00
   Shareholders Equity 0 1,886,010.00 1,994,493.00 2,014,151.00 2,030,081.00 2,086,096.00
      Capital Stock 0 102,275.00 104,686.00 104,535.00 104,370.00 104,003.00
      Share Premium 0 1,912,113.00 1,908,374.00 1,905,093.00 1,900,007.00 1,895,438.00
      Retained Earnings 0 -124,724.00 -13,954.00 10,266.00 31,885.00 92,690.00
      Treasury Shares 0 0 0 0 0 0
      Accumulated Other Comprehensive Income 0 -3,654.00 -4,613.00 -5,743.00 -6,181.00 -6,035.00
   Minority Interest 0 400,060.00 382,893.00 355,253.00 586,741.00 577,913.00
Debt 1,924,529.00 1,956,120.00 1,426,626.00 1,458,966.00 1,430,010.00 0
Net Debt 0 1,165,028.00 897,382.00 885,871.00 690,337.00 646,001.00
Common Shares Outstanding 0 102,300.00 104,686.00 104,534.70 104,370.00 104,000.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31
Revenues 0 75,673.00 62,502.00 65,917.00 64,807.00 64,689.00 0
Cost Of Revenue 0 0 41,108.00 41,997.00 46,239.00 0 40,108.00
Interest Income 11,777.00 6,354.00 9,141.00 10,543.00 9,706.00 0 0
Non-Interest Expense 0 0 9,587.00 19,846.00 7,073.00 0 7,075.00
Gross Profit 0 0 21,394.00 23,920.00 18,568.00 0 24,851.00
Operating Expenses -68,156.00 96,419.00 14,309.00 11,896.00 10,216.00 0 0
   Selling, General and Administrative Expenses 0 0 9,587.00 19,846.00 7,073.00 0 7,075.00
   Research and Development Expenses 0 0 3,319.00 0 0 0 812.00
   Other Operating Expenses -92,491.00 109,325.00 1,403.00 -7,950.00 3,143.00 0 0
Operating Income 69,854.00 -3,636.00 7,085.00 12,024.00 8,352.00 0 0
EBT 0 31,140.00 2,909.00 18,748.00 -34,813.00 37,709.00 0
Income Tax 0 439.00 179.00 -504.00 208.00 140.00 0
Net Income Including Non-Controlling Interests 0 30,779.00 12,939.00 15,037.00 -35,969.00 35,230.00 0
Net Income Non-Controlling Interests 0 -15,140.00 -4,742.00 -10,543.00 1,187.00 0 -11,275.00
Net Income 0 15,639.00 8,197.00 4,494.00 -34,782.00 25,907.00 0
EBIT 87,714.00 -3,636.00 7,085.00 18,748.00 -34,813.00 0 0
Deprecation and Amortization 0 12,206.00 12,638.00 13,642.00 13,628.00 13,780.00 0
EBITDA 99,922.00 8,570.00 19,723.00 32,390.00 -21,185.00 0 0
EPS 0 0.00 0.00 0.00 0 0.00 0.00
Diluted EPS 0 0.00 0.00 0.00 0 0.00 0.00
Average Shares Outstanding Basic 0 102,300.00 104,596.00 104,534.70 0 104,000.00 104,236.00
Average Shares Outstanding Diluted 0 102,300.00 105,114.00 104,534.70 0 104,000.00 104,679.00
Breakdown 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30
Operating Cash Flow 91,322.00 100,577.00 163,433.00 62,599.00 55,738.00
   Operating Net Income 30,779.00 12,939.00 15,037.00 -35,969.00 35,230.00
   Deprecation and Amortization 12,206.00 12,638.00 13,642.00 13,628.00 13,780.00
   Deferred Income Tax 0 0 0 0 0
   Share Based Compensation 2,482.00 3,102.00 0 1,140.00 1,513.00
   Change in Working Capital 36,836.00 49,158.00 102,100.00 -3,036.00 -12,011.00
   Other Operating Activities 9,019.00 22,740.00 0 86,836.00 17,226.00
Investing Cash Flow -280,139.00 -61,965.00 -212,680.00 -79,917.00 -21,941.00
   Capital Expenditure 0 0 0 0 0
   Net Purchase/Sale of PPE -272,401.00 -152,558.00 -207,564.00 -78,500.00 -27,366.00
   Net Purchase/Sale of Investments Net 0 18,993.00 -5,000.00 0 -21,916.00
   Net Purchase/Sale of Business 11,532.00 29,363.00 4,715.00 13,213.00 28,100.00
   Other Investing Activities 0 42,237.00 -4,831.00 -14,630.00 -759.00
Financing Cash Flow 401,805.00 -60,881.00 -58,258.00 219,884.00 -52,303.00
   Net Issuance/Repayment of Debt 540,149.00 -35,197.00 28,044.00 252,559.00 -23,116.00
   Net Issuance/Repurchase of Equity -102,725.00 0 0 0 0
   Dividends Paid -26,184.00 -26,146.00 -29,423.00 -29,221.00 -28,904.00
   Other Financing Activities -9,435.00 462.00 -56,879.00 -3,454.00 -283.00
Net Change in Cash 212,988.00 -22,269.00 -107,505.00 202,566.00 -18,506.00
   Cash at Beginning of Period 694,313.00 716,582.00 824,087.00 621,521.00 640,027.00
   Cash at End of Period 907,301.00 694,313.00 716,582.00 824,087.00 621,521.00
Free Cash Flow -181,079.00 -51,981.00 -44,245.00 -17,318.00 27,613.00