Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings
Price to Sales 5.00 4.70
Book Value Per Common Share 13.58 13.36 12.29 13.42
Price to Book 1.87 1.77
Price to Operating Cash Flow 20.35 12.92
Price to Free Cash Flow 22.10 13.64
Enterprise Value to EBITDA
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2021-03-31
Price to Earnings
Price to Sales 17.48 18.60 19.42 18.91 19.99
Book Value Per Common Share 15.24 14.35 14.03 13.58 14.18 13.36
Price to Book 1.68 1.72 1.83 1.87 1.82
Price to Operating Cash Flow 76.60 65.06 72.71 24.89 -646.37
Price to Free Cash Flow 83.64 72.10 81.24 25.36 -374.85
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY
Revenue YoY 1.12 0.68 21.08
EBITDA YoY
Net Profit YoY -0.88 -14.49 84.30
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2021-03-31
Earning YoY
Revenue YoY 10.11 0.94 -1.74 4.27 744.14
EBITDA YoY
Net Profit YoY 18.27 1.80 0.40 3.53 -9.59

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share
Quick Ratio
Current Ratio
Debt to Equity 9.32 8.76 9.29 8.01
Long-Term Debt to Equity
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2021-03-31
Cash Per Common Share 1.58
Quick Ratio
Current Ratio
Debt to Equity 8.43 8.91 9.23 9.32 8.71 8.25
Long-Term Debt to Equity

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 0.88 0.96 1.16 0.66
ROE 9.10 9.37 11.96 5.97
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin 24.39 24.88 29.29 19.25
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2021-03-31
ROA 0.29 0.25 0.24 0.24 0.24 0.42
ROE 2.70 2.43 2.44 2.52 2.33 3.91
Gross Margin 72.97
Operating Margin 331.98
EBITDA Margin 363.96
Net Profit Margin 28.21 26.26 26.04 25.49 25.67 239.64

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Dividend Yield 0.00 0.00
Dividend Payout Ratio 58.08 56.91 47.53 77.02
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2021-03-31
Dividend Yield 0.00 0.00 0.00 0.00 0.00
Dividend Payout Ratio 42.19 49.90 50.60 52.61 54.47

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 204,230,000.00 189,368,000.00 182,906,000.00 174,064,000.00
      Cash and Short-Term Investments 0 0 0 0
            Cash and Cash Equivalents 13,332,000.00 10,323,000.00 6,918,000.00 5,914,000.00
            Short-Term Investments 3,879,000.00 3,373,000.00 511,000.00 374,000.00
      Net Receivables 7,580,000.00 6,826,000.00 6,773,000.00 6,275,000.00
      Inventory 0 0 0 0
      Other Current Assets 0 0 0 0
      Property, Plant, Equipment Net 1,066,000.00 1,109,000.00 1,156,000.00 1,164,000.00
      Goodwill 5,561,000.00 5,561,000.00 5,571,000.00 5,349,000.00
      Intangible Assets 677,000.00 672,000.00 712,000.00 611,000.00
      Long-Term Investments 43,750,000.00 41,229,000.00 40,536,000.00 41,037,000.00
      Non-Current Deferred Assets 0 0 0 0
      Other Non-Current Assets 0 0 0 0
Liabilities 184,448,000.00 169,970,000.00 165,137,000.00 154,746,000.00
      Payables and Expenses 0 0 0 0
            Account Payables 0 0 0 0
            Current Accrued Liabilities 0 0 0 0
      Short-Term Debt 57,000.00 2,000.00 1,774,000.00 14,000.00
      Other Current Liabilities 0 0 0 0
      Long-Term Debt 16,374,000.00 12,394,000.00 9,686,000.00 7,108,000.00
      Other Non-Current Liabilities 0 0 0 0
Equity 19,782,000.00 19,398,000.00 17,769,000.00 19,318,000.00
   Shareholders Equity 19,740,000.00 19,353,000.00 17,731,000.00 19,297,000.00
      Capital Stock 2,004,000.00 2,409,000.00 2,181,000.00 2,181,000.00
      Share Premium 15,484,000.00 15,389,000.00 15,309,000.00 15,222,000.00
      Retained Earnings 5,204,000.00 4,322,000.00 3,419,000.00 2,202,000.00
      Treasury Shares 86,000.00 91,000.00 80,000.00 79,000.00
      Accumulated Other Comprehensive Income -2,866,000.00 -2,676,000.00 -3,098,000.00 -229,000.00
   Minority Interest 42,000.00 45,000.00 38,000.00 21,000.00
Debt 16,431,000.00 12,396,000.00 11,460,000.00 7,122,000.00
Net Debt 3,099,000.00 2,073,000.00 4,542,000.00 1,208,000.00
Common Shares Outstanding 1,453,635.81 1,448,319.95 1,443,068.04 1,437,742.17
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 7,385,000.00 7,303,000.00 7,254,000.00 5,991,000.00
Interest Income 9,921,000.00 8,916,000.00 5,969,000.00 4,191,000.00
Interest Expense 4,576,000.00 3,477,000.00 696,000.00 89,000.00
Non-Interest Expense 4,500,000.00 4,497,000.00 4,103,000.00 4,286,000.00
   Selling, General and Administrative Expenses 2,931,000.00 2,946,000.00 2,559,000.00 2,475,000.00
EBT 2,403,000.00 2,384,000.00 2,764,000.00 1,591,000.00
Income Tax 443,000.00 413,000.00 515,000.00 294,000.00
Net Income Including Non-Controlling Interests 1,960,000.00 1,971,000.00 2,249,000.00 1,297,000.00
Net Income Non-Controlling Interests -20,000.00 -20,000.00 -11,000.00 -2,000.00
Net Income 1,801,000.00 1,817,000.00 2,125,000.00 1,153,000.00
Deprecation and Amortization 622,000.00 798,000.00 484,000.00 391,000.00
EPS 0 0 0 0
Average Shares Outstanding Basic 0 0 0 0
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 1,815,000.00 2,657,000.00 4,027,000.00 2,062,000.00
   Operating Net Income 1,960,000.00 1,971,000.00 2,249,000.00 1,297,000.00
   Deprecation and Amortization 622,000.00 798,000.00 484,000.00 391,000.00
   Deferred Income Tax -26,000.00 -302,000.00 319,000.00 -76,000.00
   Share Based Compensation 106,000.00 97,000.00 105,000.00 129,000.00
   Change in Working Capital -1,260,000.00 -339,000.00 570,000.00 353,000.00
   Other Operating Activities 413,000.00 432,000.00 300,000.00 -32,000.00
Investing Cash Flow -12,119,000.00 -2,997,000.00 -11,609,000.00 -3,962,000.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE 1,626,000.00 1,751,000.00 1,668,000.00 808,000.00
   Net Purchase/Sale of Investments Net -2,790,000.00 -113,000.00 -3,687,000.00 -7,423,000.00
   Net Purchase/Sale of Business 0 0 -223,000.00 -152,000.00
   Other Investing Activities -10,955,000.00 -4,635,000.00 -9,367,000.00 2,805,000.00
Financing Cash Flow 13,022,000.00 3,765,000.00 8,764,000.00 827,000.00
   Net Issuance/Repayment of Debt 3,316,000.00 1,294,000.00 5,148,000.00 -3,874,000.00
   Net Issuance/Repurchase of Equity 0 235,000.00 0 -864,000.00
   Dividends Paid -1,046,000.00 -1,034,000.00 -1,010,000.00 -888,000.00
   Other Financing Activities 0 3,270,000.00 4,626,000.00 6,453,000.00
Net Change in Cash 2,718,000.00 3,425,000.00 1,182,000.00 -1,073,000.00
   Cash at Beginning of Period 10,129,000.00 6,704,000.00 5,522,000.00 6,595,000.00
   Cash at End of Period 12,847,000.00 10,129,000.00 6,704,000.00 5,522,000.00
Free Cash Flow 1,672,000.00 2,517,000.00 3,813,000.00 1,815,000.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2021-03-31
Assets 210,228,000.00 207,742,000.00 209,596,000.00 204,230,000.00 200,535,000.00 125,768,000.00
   Deposits 0 0 0 0 0 102,184,000.00
      Cash and Short-Term Investments 0 0 0 0 0 1,610,000.00
            Cash and Cash Equivalents 13,232,000.00 10,947,000.00 15,928,000.00 13,332,000.00 12,840,000.00 1,148,000.00
            Short-Term Investments 2,500,000.00 4,054,000.00 3,272,000.00 3,879,000.00 5,184,000.00 462,000.00
      Net Receivables 7,269,000.00 7,128,000.00 7,107,000.00 7,580,000.00 6,924,000.00 0
      Inventory 0 0 0 0 0 0
      Other Current Assets 0 0 0 0 0 0
      Property, Plant, Equipment Net 1,112,000.00 1,104,000.00 1,085,000.00 1,066,000.00 1,093,000.00 747,000.00
      Goodwill 5,547,000.00 5,561,000.00 5,561,000.00 5,561,000.00 5,561,000.00 1,990,000.00
      Intangible Assets 644,000.00 647,000.00 656,000.00 677,000.00 633,000.00 0
      Long-Term Investments 41,821,000.00 44,831,000.00 44,685,000.00 43,750,000.00 44,691,000.00 0
      Non-Current Deferred Assets 0 0 0 0 0 0
      Other Non-Current Assets 0 0 0 0 0 0
Liabilities 187,942,000.00 186,772,000.00 189,110,000.00 184,448,000.00 179,883,000.00 112,168,000.00
      Payables and Expenses 0 0 0 0 0 0
            Account Payables 0 0 0 0 0 0
            Current Accrued Liabilities 0 0 0 0 0 0
      Short-Term Debt 108,000.00 445,000.00 532,000.00 57,000.00 726,000.00 219,000.00
      Other Current Liabilities 0 0 0 0 0 0
      Long-Term Debt 17,315,000.00 17,467,000.00 18,096,000.00 16,374,000.00 15,656,000.00 0
      Other Non-Current Liabilities 0 0 0 0 0 0
Equity 22,286,000.00 20,970,000.00 20,486,000.00 19,782,000.00 20,652,000.00 13,600,000.00
   Shareholders Equity 22,248,000.00 20,928,000.00 20,434,000.00 19,740,000.00 20,606,000.00 13,600,000.00
      Capital Stock 2,746,000.00 2,004,000.00 2,004,000.00 2,004,000.00 2,409,000.00 2,686,000.00
      Share Premium 15,537,000.00 15,506,000.00 15,479,000.00 15,484,000.00 15,455,000.00 8,806,000.00
      Retained Earnings 6,123,000.00 5,751,000.00 5,474,000.00 5,204,000.00 4,935,000.00 2,223,000.00
      Treasury Shares 87,000.00 87,000.00 90,000.00 86,000.00 89,000.00 -59,000.00
      Accumulated Other Comprehensive Income -2,071,000.00 -2,246,000.00 -2,433,000.00 -2,866,000.00 -2,104,000.00 -56,000.00
   Minority Interest 38,000.00 42,000.00 52,000.00 42,000.00 46,000.00 0
Investments 0 0 0 0 0 27,652,000.00
Debt 17,423,000.00 17,912,000.00 18,628,000.00 16,431,000.00 16,382,000.00 7,429,000.00
Net Debt 4,191,000.00 6,965,000.00 2,700,000.00 3,099,000.00 3,542,000.00 5,819,000.00
Common Shares Outstanding 1,459,390.76 1,458,800.04 1,456,811.62 1,453,635.81 1,452,811.39 1,018,052.92
Preferred Shares Outstanding 0 0 0 0 0 1,250.50
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2021-03-31
Revenues 2,134,000.00 1,938,000.00 1,920,000.00 1,954,000.00 1,874,000.00 222,000.00
Cost Of Revenue 0 0 0 0 0 60,000.00
Interest Income 2,600,000.00 2,556,000.00 2,489,000.00 2,510,000.00 2,555,000.00 880,000.00
Interest Expense 1,094,000.00 1,089,000.00 1,063,000.00 1,115,000.00 1,204,000.00 103,000.00
Net Interest 0 0 0 0 0 972,000.00
Non-Interest Income 0 0 0 0 0 395,000.00
Non-Interest Expense 1,231,000.00 1,184,000.00 1,137,000.00 1,163,000.00 1,115,000.00 -1,586,000.00
Provisions for Credit Losses 0 0 0 0 0 60,000.00
Gross Profit 0 0 0 0 0 162,000.00
   Selling, General and Administrative Expenses 800,000.00 770,000.00 737,000.00 763,000.00 732,000.00 188,000.00
EBT 766,000.00 638,000.00 653,000.00 669,000.00 638,000.00 634,000.00
Income Tax 133,000.00 96,000.00 122,000.00 135,000.00 116,000.00 102,000.00
Net Income Including Non-Controlling Interests 633,000.00 542,000.00 531,000.00 534,000.00 522,000.00 0
Net Income Non-Controlling Interests -4,000.00 -6,000.00 -4,000.00 -4,000.00 -5,000.00 0
Net Income 602,000.00 509,000.00 500,000.00 498,000.00 481,000.00 532,000.00
EBIT 0 0 0 0 0 737,000.00
Deprecation and Amortization 175,000.00 188,000.00 209,000.00 130,000.00 132,000.00 71,000.00
EBITDA 0 0 0 0 0 808,000.00
EPS 0 0 0 0 0 0.00
Diluted EPS 0 0 0 0 0 0.00
Average Shares Outstanding Basic 0 0 0 0 0 1,017,512.00
Average Shares Outstanding Diluted 0 0 0 0 0 1,041,003.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2021-03-31
Operating Cash Flow 487,000.00 554,000.00 513,000.00 1,484,000.00 -58,000.00 -111,000.00
   Operating Net Income 633,000.00 542,000.00 531,000.00 534,000.00 522,000.00 532,000.00
   Deprecation and Amortization 175,000.00 188,000.00 209,000.00 130,000.00 132,000.00 71,000.00
   Deferred Income Tax -94,000.00 -148,000.00 -25,000.00 29,000.00 -28,000.00 61,000.00
   Share Based Compensation 31,000.00 32,000.00 21,000.00 25,000.00 28,000.00 28,000.00
   Change in Working Capital -311,000.00 -200,000.00 -342,000.00 673,000.00 -823,000.00 11,000.00
   Other Operating Activities 53,000.00 140,000.00 119,000.00 93,000.00 111,000.00 -814,000.00
Investing Cash Flow -266,000.00 -2,495,000.00 -2,150,000.00 -4,784,000.00 -2,881,000.00 -376,000.00
   Capital Expenditure 0 0 0 0 0 -22,000.00
   Net Purchase/Sale of PPE -781,000.00 686,000.00 -54,000.00 1,742,000.00 -938,000.00 -22,000.00
   Net Purchase/Sale of Investments Net 2,869,000.00 89,000.00 -97,000.00 -246,000.00 -743,000.00 2,832,000.00
   Net Purchase/Sale of Business 0 0 0 0 0 0
   Net Loan & Lease Activity 0 0 0 0
   Other Investing Activities -2,354,000.00 -3,270,000.00 -1,999,000.00 -6,280,000.00 -1,200,000.00 -4,458,000.00
Financing Cash Flow 2,158,000.00 -3,010,000.00 4,100,000.00 3,562,000.00 2,978,000.00 2,481,000.00
   Net Issuance/Repayment of Debt -150,000.00 -766,000.00 1,493,000.00 147,000.00 -737,000.00 -1,047,000.00
   Net Issuance/Repurchase of Equity 0 0 0 -410,000.00 0 485,000.00
   Dividends Paid -254,000.00 -254,000.00 -253,000.00 -262,000.00 -262,000.00 188,000.00
   Other Financing Activities 0 0 0 4,087,000.00 3,977,000.00 2,855,000.00
Net Change in Cash 2,379,000.00 -4,951,000.00 2,463,000.00 262,000.00 39,000.00 1,994,000.00
   Cash at Beginning of Period 10,359,000.00 15,310,000.00 12,847,000.00 12,585,000.00 12,546,000.00 6,595,000.00
   Cash at End of Period 12,738,000.00 10,359,000.00 15,310,000.00 12,847,000.00 12,585,000.00 8,589,000.00
Free Cash Flow 446,000.00 500,000.00 459,000.00 1,457,000.00 -100,000.00 -133,000.00