GRFS
Valuation Ratios
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Price to Earnings | 32.35 | 128.44 | 27.42 | 41.59 |
| Price to Sales | 0.70 | 1.19 | 0.95 | 1.55 |
| Book Value Per Common Share | 8.65 | 7.91 | 8.33 | 8.14 |
| Price to Book | 0.86 | 1.46 | 1.02 | 1.38 |
| Price to Operating Cash Flow | 5.60 | 35.93 | -4047.62 | 12.82 |
| Price to Free Cash Flow | 9.53 | -85.76 | -14.66 | 27.15 |
| Enterprise Value to EBITDA | 34107.61 | 67134.07 | 48322.03 | 80724.59 |
| Breakdown | 2025-06-30 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|
| Price to Earnings | 53.18 | 73.37 | 116.69 | 315.25 |
| Price to Sales | 3.29 | 2.56 | 3.37 | 2.57 |
| Book Value Per Common Share | 7.60 | 8.65 | 7.87 | 8.23 |
| Price to Book | 1.19 | 0.86 | 1.13 | 0.77 |
| Price to Operating Cash Flow | 9.84 | 20.15 | ||
| Price to Free Cash Flow | 13.61 | 28.02 | ||
| Enterprise Value to EBITDA | 176981.53 | 150446.82 | 144237.50 |
Earnings Data
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Earning YoY | 155.56 | -70.97 | 14.81 | |
| Revenue YoY | 9.41 | 8.71 | 22.92 | |
| EBITDA YoY | 26.93 | -2.01 | 26.43 | |
| Net Profit YoY | 270.81 | -77.13 | -1.96 |
| Breakdown | 2025-06-30 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|
| Earning YoY | 67.65 | 33.25 | 280.50 | |
| Revenue YoY | -4.29 | 10.20 | -1.37 | |
| EBITDA YoY | 3.18 | -20.89 | 43.16 | |
| Net Profit YoY | 69.74 | 33.42 | 248.30 |
Financial Strength
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Cash Per Common Share | 1.47 | 0.80 | 0.85 | 3.93 |
| Quick Ratio | 0.96 | 0.63 | 0.67 | 0.91 |
| Current Ratio | 2.66 | 2.64 | 2.32 | 1.59 |
| Debt to Equity | 1.49 | 1.79 | 1.66 | 1.63 |
| Long-Term Debt to Equity | 1.24 | 1.48 | 1.41 | 1.15 |
| Breakdown | 2025-06-30 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|
| Cash Per Common Share | 0.82 | 1.47 | 1.19 | 3.02 |
| Quick Ratio | 0.91 | 0.96 | 0.77 | 0.77 |
| Current Ratio | 2.64 | 2.66 | 2.26 | 1.68 |
| Debt to Equity | 1.60 | 1.49 | 1.54 | 1.69 |
| Long-Term Debt to Equity | 1.34 | 1.24 | 1.24 | 1.19 |
Profitability
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| ROA | 0.73 | 0.20 | 0.87 | 0.98 |
| ROE | 1.82 | 0.56 | 2.32 | 2.58 |
| Gross Margin | 38.75 | 37.67 | 36.51 | 39.78 |
| Operating Margin | 14.51 | 10.97 | 12.91 | 11.84 |
| EBITDA Margin | 20.58 | 17.74 | 19.68 | 19.14 |
| Net Profit Margin | 2.18 | 0.64 | 3.05 | 3.83 |
| Breakdown | 2025-06-30 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|
| ROA | 0.59 | 0.32 | 0.25 | 0.07 |
| ROE | 1.54 | 0.80 | 0.65 | 0.18 |
| Gross Margin | 39.33 | 38.79 | 40.53 | 36.88 |
| Operating Margin | 17.55 | 11.46 | 17.68 | 14.82 |
| EBITDA Margin | 18.36 | 17.03 | 23.73 | 16.35 |
| Net Profit Margin | 6.19 | 3.49 | 2.88 | 0.82 |
Dividends
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Dividend Yield | 0.00 | 0.00 | 0.00 | |
| Dividend Payout Ratio | 0.61 | 0.32 | 137.21 |
| Breakdown | 2025-06-30 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|
| Dividend Yield | ||||
| Dividend Payout Ratio |
Financial Statements
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Assets | 21,405,241.00 | 20,992,103.00 | 21,229,584.00 | 19,233,835.00 |
| Current Assets | 5,727,542.00 | 6,131,016.00 | 4,690,724.00 | 5,510,280.00 |
| Cash and Short-Term Investments | 1,000,959.00 | 544,503.00 | 580,241.00 | 2,681,362.00 |
| Cash and Cash Equivalents | 979,780.00 | 529,577.00 | 549,207.00 | 655,493.00 |
| Short-Term Investments | 21,179.00 | 14,926.00 | 31,034.00 | 2,025,869.00 |
| Net Receivables | 1,079,316.00 | 912,197.00 | 774,198.00 | 495,476.00 |
| Inventory | 3,560,098.00 | 3,482,399.00 | 3,236,010.00 | 2,259,354.00 |
| Other Current Assets | 87,169.00 | 1,191,917.00 | 100,275.00 | 74,088.00 |
| Non-Current Assets | 15,677,699.00 | 14,861,087.00 | 16,538,860.00 | 13,723,555.00 |
| Property, Plant, Equipment Net | 4,310,150.00 | 4,192,363.00 | 4,284,118.00 | 3,343,154.00 |
| Goodwill | 7,403,056.00 | 6,802,127.00 | 7,011,909.00 | 6,228,901.00 |
| Intangible Assets | 2,926,132.00 | 2,832,196.00 | 2,949,147.00 | 1,636,950.00 |
| Long-Term Investments | 528,972.00 | 451,897.00 | 1,994,572.00 | 2,263,108.00 |
| Non-Current Deferred Assets | 341,673.00 | 300,329.00 | 174,923.00 | 152,507.00 |
| Other Non-Current Assets | 167,716.00 | 282,175.00 | 124,191.00 | 98,935.00 |
| Liabilities | 12,798,216.00 | 13,478,408.00 | 13,253,455.00 | 11,916,737.00 |
| Current Liabilities | 2,156,146.00 | 2,325,443.00 | 2,019,276.00 | 3,474,312.00 |
| Payables and Expenses | 1,363,669.00 | 1,207,756.00 | 918,578.00 | 961,075.00 |
| Account Payables | 852,305.00 | 822,953.00 | 787,964.00 | 628,992.00 |
| Current Accrued Liabilities | 0 | 0 | 0 | 0 |
| Short-Term Debt | 639,661.00 | 987,909.00 | 681,273.00 | 2,394,182.00 |
| Other Current Liabilities | 152,816.00 | 129,778.00 | 419,425.00 | 119,055.00 |
| Non-Current Liabilities | 10,642,070.00 | 11,152,965.00 | 11,234,179.00 | 8,442,425.00 |
| Long-Term Debt | 9,445,958.00 | 9,985,044.00 | 9,068,852.00 | 6,930,124.00 |
| Other Non-Current Liabilities | 1,196,112.00 | 1,167,921.00 | 2,165,327.00 | 1,512,301.00 |
| Equity | 8,607,025.00 | 7,513,695.00 | 7,976,129.00 | 7,317,098.00 |
| Shareholders Equity | 5,883,727.00 | 5,368,376.00 | 5,648,523.00 | 5,523,609.00 |
| Capital Stock | 119,604.00 | 119,604.00 | 119,604.00 | 119,604.00 |
| Share Premium | 910,728.00 | 910,728.00 | 910,728.00 | 910,728.00 |
| Retained Earnings | 156,920.00 | 42,318.00 | 0 | 188,726.00 |
| Treasury Shares | 134,448.00 | 152,748.00 | 162,220.00 | 164,189.00 |
| Accumulated Other Comprehensive Income | 4,830,923.00 | 4,448,474.00 | 4,780,411.00 | 4,468,740.00 |
| Minority Interest | 2,723,298.00 | 2,145,319.00 | 2,327,606.00 | 1,793,489.00 |
| Debt | 10,085,619.00 | 10,972,953.00 | 9,750,125.00 | 9,324,306.00 |
| Net Debt | 7,964,460.00 | 9,332,048.00 | 8,185,202.00 | 7,795,089.00 |
| Common Shares Outstanding | 680,409.10 | 679,092.28 | 678,410.69 | 678,539.95 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Revenues | 7,212,382.00 | 6,591,977.00 | 6,063,967.00 | 4,933,118.00 |
| Cost Of Revenue | 4,417,844.00 | 4,108,495.00 | 3,850,257.00 | 2,970,522.00 |
| Interest Income | 44,423.00 | 62,430.00 | 33,859.00 | 11,551.00 |
| Interest Expense | 602,571.00 | 516,060.00 | 444,543.00 | 233,813.00 |
| Non-Interest Expense | 1,144,011.00 | 1,265,526.00 | 1,107,790.00 | 1,061,508.00 |
| Gross Profit | 2,794,538.00 | 2,483,482.00 | 2,213,710.00 | 1,962,596.00 |
| Operating Expenses | 1,639,327.00 | 1,764,905.00 | 1,534,752.00 | 1,400,087.00 |
| Selling, General and Administrative Expenses | 1,144,011.00 | 1,265,526.00 | 1,107,790.00 | 1,061,508.00 |
| Research and Development Expenses | 384,036.00 | 395,282.00 | 361,140.00 | 354,881.00 |
| Other Operating Expenses | 0 | -3,042.00 | -22,235.00 | -16,302.00 |
| Operating Income | 1,155,211.00 | 718,577.00 | 678,958.00 | 562,509.00 |
| EBT | 443,996.00 | 207,021.00 | 338,013.00 | 350,453.00 |
| Income Tax | 231,190.00 | 43,349.00 | 90,111.00 | 85,126.00 |
| Net Income Including Non-Controlling Interests | 212,806.00 | 163,672.00 | 247,902.00 | 265,327.00 |
| Net Income Non-Controlling Interests | -55,886.00 | -121,354.00 | -62,867.00 | -76,601.00 |
| Net Income | 156,920.00 | 42,318.00 | 185,035.00 | 188,726.00 |
| EBIT | 1,046,567.00 | 723,081.00 | 782,556.00 | 584,266.00 |
| Deprecation and Amortization | 437,897.00 | 446,422.00 | 410,980.00 | 359,767.00 |
| EBITDA | 1,484,464.00 | 1,169,503.00 | 1,193,536.00 | 944,033.00 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 |
| Diluted EPS | 0.00 | 0.00 | 0.00 | 0.00 |
| Average Shares Outstanding Basic | 679,668.55 | 679,756.29 | 679,805.14 | 681,556.94 |
| Average Shares Outstanding Diluted | 679,916.71 | 679,756.29 | 679,805.14 | 681,556.94 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Operating Cash Flow | 902,168.00 | 218,690.00 | -1,427.00 | 596,975.00 |
| Operating Net Income | 443,996.00 | 207,021.00 | 338,013.00 | 350,453.00 |
| Deprecation and Amortization | 437,897.00 | 446,422.00 | 410,980.00 | 359,767.00 |
| Deferred Income Tax | 0 | 0 | 0 | 0 |
| Share Based Compensation | 0 | 0 | 0 | 0 |
| Change in Working Capital | 22,376.00 | -362,843.00 | -584,351.00 | -140,908.00 |
| Other Operating Activities | -2,101.00 | -71,910.00 | -166,069.00 | 27,663.00 |
| Investing Cash Flow | 886,667.00 | -394,719.00 | -1,996,123.00 | -854,149.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | -209,036.00 | -201,191.00 | -280,507.00 | -246,734.00 |
| Net Purchase/Sale of Investments Net | -43,852.00 | -78,172.00 | -164,656.00 | -40,971.00 |
| Net Purchase/Sale of Business | -285,872.00 | -29,474.00 | -1,533,264.00 | -498,729.00 |
| Other Investing Activities | 1,425,427.00 | -85,882.00 | -17,696.00 | -67,715.00 |
| Financing Cash Flow | -1,358,714.00 | 171,493.00 | -164,901.00 | 2,297,679.00 |
| Net Issuance/Repayment of Debt | -111,488.00 | -116,394.00 | -104,287.00 | -82,692.00 |
| Net Issuance/Repurchase of Equity | 0 | 0 | -3,459.00 | -125,703.00 |
| Dividends Paid | -962.00 | 0 | -592.00 | -258,946.00 |
| Other Financing Activities | -1,246,264.00 | 287,887.00 | -56,563.00 | 2,765,020.00 |
| Net Change in Cash | 430,121.00 | -4,536.00 | -2,162,451.00 | 2,040,505.00 |
| Cash at Beginning of Period | 529,577.00 | 549,207.00 | 2,676,107.00 | 579,647.00 |
| Cash at End of Period | 979,780.00 | 529,577.00 | 549,207.00 | 2,675,611.00 |
| Free Cash Flow | 530,801.00 | -91,630.00 | -394,299.00 | 281,887.00 |
| Breakdown | 2025-06-30 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|
| Assets | 19,767,159.00 | 21,405,241.00 | 20,283,644.00 | 22,291,454.00 |
| Current Assets | 5,246,207.00 | 5,727,542.00 | 5,323,263.00 | 6,914,895.00 |
| Cash and Short-Term Investments | 565,800.00 | 1,000,959.00 | 806,741.00 | 2,242,719.00 |
| Cash and Cash Equivalents | 558,691.00 | 979,780.00 | 644,942.00 | 2,113,221.00 |
| Short-Term Investments | 7,109.00 | 21,179.00 | 161,799.00 | 129,498.00 |
| Net Receivables | 1,252,407.00 | 1,079,316.00 | 1,007,363.00 | 935,083.00 |
| Inventory | 3,346,864.00 | 3,560,098.00 | 3,455,609.00 | 3,623,286.00 |
| Other Current Assets | 81,136.00 | 87,169.00 | 53,550.00 | 113,807.00 |
| Non-Current Assets | 14,520,952.00 | 15,677,699.00 | 14,960,381.00 | 15,376,559.00 |
| Property, Plant, Equipment Net | 4,036,360.00 | 4,310,150.00 | 3,162,439.00 | 4,214,569.00 |
| Goodwill | 6,858,103.00 | 7,403,056.00 | 0 | 7,101,997.00 |
| Intangible Assets | 2,740,576.00 | 2,926,132.00 | 0 | 2,880,925.00 |
| Long-Term Investments | 471,009.00 | 528,972.00 | 690,097.00 | 559,998.00 |
| Non-Current Deferred Assets | 383,041.00 | 341,673.00 | 0 | 331,686.00 |
| Other Non-Current Assets | 31,863.00 | 167,716.00 | 0 | 287,384.00 |
| Liabilities | 12,169,006.00 | 12,798,216.00 | 12,288,584.00 | 13,996,180.00 |
| Current Liabilities | 1,990,152.00 | 2,156,146.00 | 2,355,575.00 | 4,111,962.00 |
| Payables and Expenses | 1,181,047.00 | 1,363,669.00 | 0 | 1,069,743.00 |
| Account Payables | 878,681.00 | 852,305.00 | 0 | 877,723.00 |
| Current Accrued Liabilities | 0 | 0 | 0 | 0 |
| Short-Term Debt | 393,970.00 | 639,661.00 | 0 | 2,677,713.00 |
| Other Current Liabilities | 415,135.00 | 152,816.00 | 0 | 364,506.00 |
| Non-Current Liabilities | 10,178,854.00 | 10,642,070.00 | 9,933,009.00 | 9,884,218.00 |
| Long-Term Debt | 8,425,469.00 | 9,445,958.00 | 0 | 7,963,812.00 |
| Other Non-Current Liabilities | 1,753,385.00 | 1,196,112.00 | 0 | 1,920,406.00 |
| Equity | 7,598,153.00 | 8,607,025.00 | 7,995,060.00 | 8,295,274.00 |
| Shareholders Equity | 5,169,080.00 | 5,883,727.00 | 5,349,895.00 | 5,592,707.00 |
| Capital Stock | 119,604.00 | 119,604.00 | 119,604.00 | 119,604.00 |
| Share Premium | 910,728.00 | 910,728.00 | 910,728.00 | 910,728.00 |
| Retained Earnings | 176,786.00 | 156,920.00 | 87,952.00 | 36,259.00 |
| Treasury Shares | 132,168.00 | 134,448.00 | 145,287.00 | 145,287.00 |
| Accumulated Other Comprehensive Income | 4,094,130.00 | 4,830,923.00 | 4,376,898.00 | 4,671,403.00 |
| Minority Interest | 2,429,073.00 | 2,723,298.00 | 2,645,165.00 | 2,702,567.00 |
| Debt | 8,819,439.00 | 10,085,619.00 | 0 | 10,641,525.00 |
| Net Debt | 7,171,273.00 | 7,964,460.00 | 0 | 7,394,082.00 |
| Common Shares Outstanding | 679,729.20 | 680,409.10 | 679,629.20 | 679,629.20 |
| Breakdown | 2025-06-30 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|
| Revenues | 1,891,131.00 | 1,975,813.00 | 1,792,956.00 | 1,817,907.00 |
| Cost Of Revenue | 1,147,336.00 | 1,209,319.00 | 1,066,201.00 | 1,147,464.00 |
| Interest Income | 9,555.00 | 0 | 0 | 14,051.00 |
| Interest Expense | 141,430.00 | 15,869.00 | 197,613.00 | 202,513.00 |
| Non-Interest Expense | 282,756.00 | 158,199.00 | 319,425.00 | 299,685.00 |
| Gross Profit | 743,795.00 | 766,494.00 | 726,755.00 | 670,443.00 |
| Operating Expenses | 394,254.00 | 384,480.00 | 407,303.00 | 418,031.00 |
| Selling, General and Administrative Expenses | 282,756.00 | 158,199.00 | 319,425.00 | 299,685.00 |
| Research and Development Expenses | 96,193.00 | 115,001.00 | 87,878.00 | 90,695.00 |
| Operating Income | 349,541.00 | 382,014.00 | 319,452.00 | 252,412.00 |
| EBT | 190,509.00 | 210,541.00 | 119,419.00 | 66,978.00 |
| Income Tax | 52,128.00 | 126,756.00 | 37,441.00 | 42,214.00 |
| Net Income Including Non-Controlling Interests | 138,381.00 | 83,785.00 | 81,978.00 | 24,764.00 |
| Net Income Non-Controlling Interests | -21,318.00 | -14,817.00 | -30,287.00 | -9,923.00 |
| Net Income | 117,063.00 | 68,968.00 | 51,691.00 | 14,841.00 |
| EBIT | 331,939.00 | 226,410.00 | 317,032.00 | 269,491.00 |
| Deprecation and Amortization | 15,305.00 | 110,131.00 | 108,364.00 | 27,651.00 |
| EBITDA | 347,244.00 | 336,541.00 | 425,396.00 | 297,142.00 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 |
| Diluted EPS | 0.00 | 0.00 | 0.00 | 0.00 |
| Average Shares Outstanding Basic | 688,605.88 | 680,409.10 | 679,629.20 | 742,050.00 |
| Average Shares Outstanding Diluted | 688,605.88 | 680,409.10 | 679,629.20 | 742,050.00 |
| Breakdown | 2024-12-31 | 2024-09-30 |
|---|---|---|
| Operating Cash Flow | 514,618.00 | 299,610.00 |
| Operating Net Income | 356,045.00 | 51,691.00 |
| Deprecation and Amortization | 110,131.00 | 108,364.00 |
| Deferred Income Tax | 0 | 0 |
| Share Based Compensation | 0 | 0 |
| Change in Working Capital | 220,234.00 | -22,906.00 |
| Other Operating Activities | -171,792.00 | 162,461.00 |
| Investing Cash Flow | -178,309.00 | -196,401.00 |
| Capital Expenditure | 0 | -51,299.00 |
| Net Purchase/Sale of PPE | 0 | 0 |
| Net Purchase/Sale of Investments Net | 0 | 0 |
| Net Purchase/Sale of Business | -1,596,651.00 | -114,352.00 |
| Other Investing Activities | 0 | -30,750.00 |
| Financing Cash Flow | -27,161.00 | -1,556,448.00 |
| Net Issuance/Repayment of Debt | 1,248,541.00 | -1,563,615.00 |
| Net Issuance/Repurchase of Equity | -11,516.00 | 5,817.00 |
| Dividends Paid | 0 | 0 |
| Other Financing Activities | -1,264,186.00 | 1,350.00 |
| Net Change in Cash | 309,148.00 | -1,453,239.00 |
| Cash at Beginning of Period | 644,942.00 | 2,113,220.00 |
| Cash at End of Period | 979,780.00 | 644,942.00 |
| Free Cash Flow | 371,866.00 | 215,362.00 |