Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 1.25 1.88 8.45 -30.47
Price to Sales 0.04 0.04 0.08 0.11
Book Value Per Common Share 82.44 73.90 68.04 67.16
Price to Book 0.42 0.39 0.82 1.04
Price to Operating Cash Flow 0.89 0.76 1.52 2.57
Price to Free Cash Flow 1.17 1.15 2.51 5.44
Enterprise Value to EBITDA 15890.56 21165.01 75828.42 448012.44
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings 9.40 7.52 5.47 5.11 4.98
Price to Sales 0.17 0.13 0.20 0.15 0.22
Book Value Per Common Share 81.72 80.10 81.28 82.44 78.86
Price to Book 0.43 0.41 0.51 0.42 0.51
Price to Operating Cash Flow -6.18 1.90 -3.26 2.02 -9.38
Price to Free Cash Flow -6.18 1.90 -2.89 4.55 -9.38
Enterprise Value to EBITDA 134815.46 126063.38 83068.18 80261.25 72814.44

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY 79.84 131.63
Revenue YoY 6.84 3.67 9.95
EBITDA YoY 47.91 84.51 377.06
Net Profit YoY 71.14 132.82
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY -14.29 -42.29 10.91 -15.67
Revenue YoY -16.15 18.46 -13.23 33.26
EBITDA YoY 0.29 -48.55 13.80 -21.25
Net Profit YoY -14.60 -43.27 10.51 -16.00

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 156.52 120.96 140.73 119.28
Quick Ratio 0.88 0.80 0.93 0.91
Current Ratio 1.29 1.16 1.32 1.35
Debt to Equity 1.23 1.12 1.17 1.01
Long-Term Debt to Equity 0.27 0.23 0.20 0.11
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 139.73 150.54 134.00 161.21 130.93
Quick Ratio 0.76 0.80 0.81 0.88 0.81
Current Ratio 1.20 1.22 1.26 1.29 1.17
Debt to Equity 1.34 1.38 1.20 1.23 1.17
Long-Term Debt to Equity 0.30 0.29 0.28 0.27 0.27

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 5.92 3.84 1.74 -0.72
ROE 13.20 8.15 3.79 -1.44
Gross Margin 15.87 14.72 14.06 13.56
Operating Margin 4.70 3.18 1.53 -0.14
EBITDA Margin 5.47 3.95 2.22 0.51
Net Profit Margin 3.57 2.23 0.99 -0.37
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA 0.74 0.87 1.61 1.41 1.82
ROE 1.73 2.08 3.53 3.15 3.95
Gross Margin 16.88 15.88 15.89 15.31 17.30
Operating Margin 2.46 2.06 4.63 3.61 6.12
EBITDA Margin 2.46 2.06 4.74 3.61 6.12
Net Profit Margin 1.76 1.73 3.62 2.84 4.51

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 19.98 27.89 126.08
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 698,234,000.00 628,958,000.00 595,250,000.00 496,507,000.00
   Current Assets 386,698,000.00 307,810,000.00 351,074,000.00 299,672,000.00
      Cash and Short-Term Investments 233,995,000.00 190,146,000.00 219,956,000.00 185,331,000.00
            Cash and Cash Equivalents 108,350,000.00 71,892,000.00 78,861,000.00 70,767,000.00
            Short-Term Investments 125,645,000.00 118,254,000.00 141,095,000.00 114,564,000.00
      Net Receivables 30,401,000.00 22,416,000.00 26,718,000.00 17,400,000.00
      Inventory 89,326,000.00 68,058,000.00 77,949,000.00 75,601,000.00
      Other Current Assets 32,976,000.00 27,190,000.00 26,451,000.00 21,340,000.00
   Non-Current Assets 311,536,000.00 321,148,000.00 244,176,000.00 196,835,000.00
      Property, Plant, Equipment Net 113,433,000.00 100,818,000.00 88,508,000.00 58,748,000.00
      Goodwill 25,709,000.00 19,980,000.00 23,123,000.00 12,433,000.00
      Intangible Assets 44,626,000.00 46,498,000.00 42,987,000.00 20,165,000.00
      Long-Term Investments 116,220,000.00 137,586,000.00 72,001,000.00 82,310,000.00
      Non-Current Deferred Assets 2,459,000.00 1,744,000.00 1,536,000.00 1,111,000.00
      Other Non-Current Assets 9,089,000.00 14,522,000.00 16,021,000.00 22,068,000.00
Liabilities 384,937,000.00 332,578,000.00 321,127,000.00 249,723,000.00
   Current Liabilities 299,521,000.00 265,650,000.00 266,561,000.00 221,636,000.00
      Payables and Expenses 224,350,000.00 192,925,000.00 185,894,000.00 156,583,000.00
            Account Payables 192,860,000.00 166,167,000.00 160,607,000.00 140,484,000.00
            Current Accrued Liabilities 18,689,000.00 15,829,000.00 15,664,000.00 11,480,000.00
      Short-Term Debt 15,187,000.00 12,789,000.00 19,834,000.00 11,033,000.00
      Other Current Liabilities 59,984,000.00 59,936,000.00 60,833,000.00 54,020,000.00
   Non-Current Liabilities 85,416,000.00 66,928,000.00 54,566,000.00 28,087,000.00
      Long-Term Debt 74,581,000.00 55,642,000.00 45,211,000.00 23,107,000.00
      Other Non-Current Liabilities 10,835,000.00 11,286,000.00 9,355,000.00 4,980,000.00
Equity 313,297,000.00 296,380,000.00 274,123,000.00 246,784,000.00
   Shareholders Equity 239,347,000.00 231,858,000.00 213,366,000.00 208,911,000.00
      Capital Stock 0 0 0 0
      Share Premium 182,404,000.00 184,204,000.00 184,041,000.00 182,578,000.00
      Retained Earnings 76,573,000.00 44,051,000.00 29,304,000.00 33,805,000.00
      Treasury Shares 27,739,000.00 3,409,000.00 2,493,000.00 2,968,000.00
      Accumulated Other Comprehensive Income 8,109,000.00 7,012,000.00 2,514,000.00 -4,504,000.00
   Minority Interest 73,950,000.00 64,522,000.00 60,757,000.00 37,873,000.00
Debt 89,768,000.00 68,431,000.00 65,045,000.00 34,140,000.00
Common Shares Outstanding 2,903,433.25 3,137,663.92 3,135,679.25 3,110,791.65
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 1,158,819,000.00 1,084,662,000.00 1,046,236,000.00 951,592,000.00
Cost Of Revenue 974,951,000.00 924,958,000.00 899,163,000.00 822,526,000.00
Interest Income 9,353,000.00 9,576,000.00 5,742,000.00 4,213,000.00
Interest Expense 2,896,000.00 2,881,000.00 2,106,000.00 1,213,000.00
Non-Interest Expense 56,841,000.00 49,843,000.00 48,825,000.00 50,305,000.00
Gross Profit 183,868,000.00 159,704,000.00 147,073,000.00 129,066,000.00
Operating Expenses 144,298,000.00 130,794,000.00 128,729,000.00 123,210,000.00
   Selling, General and Administrative Expenses 56,841,000.00 49,843,000.00 48,825,000.00 50,305,000.00
   Research and Development Expenses 17,031,000.00 16,393,000.00 16,893,000.00 16,332,000.00
   Other Operating Expenses 70,426,000.00 64,558,000.00 63,011,000.00 56,573,000.00
Operating Income 39,570,000.00 28,910,000.00 18,344,000.00 5,856,000.00
Net Non-Operating Income 5,421,000.00 1,757,000.00 2,212,000.00 359,000.00
EBT 51,538,000.00 31,650,000.00 13,867,000.00 -2,580,000.00
Income Tax 6,878,000.00 8,393,000.00 4,176,000.00 1,887,000.00
Net Income Including Non-Controlling Interests 44,660,000.00 23,257,000.00 9,691,000.00 -4,467,000.00
Net Income Non-Controlling Interests -3,301,000.00 910,000.00 689,000.00 907,000.00
Net Income 41,359,000.00 24,167,000.00 10,380,000.00 -3,560,000.00
EBIT 54,434,000.00 34,531,000.00 15,973,000.00 -1,367,000.00
Deprecation and Amortization 8,904,000.00 8,292,000.00 7,236,000.00 6,232,000.00
EBITDA 63,338,000.00 42,823,000.00 23,209,000.00 4,865,000.00
EPS 0.03 0.02 0.01 -0.00
Diluted EPS 0.03 0.02 0.01 -0.00
Average Shares Outstanding Basic 1,495,000.00 1,572,000.00 1,563,000.00 1,553,718.50
Average Shares Outstanding Diluted 1,538,000.00 1,585,500.00 1,590,500.00 1,553,718.50
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 58,095,000.00 59,521,000.00 57,819,000.00 42,301,000.00
   Operating Net Income 44,660,000.00 23,257,000.00 9,691,000.00 -4,467,000.00
   Deprecation and Amortization 8,904,000.00 8,292,000.00 7,236,000.00 6,232,000.00
   Deferred Income Tax -1,144,000.00 869,000.00 -549,000.00 -651,000.00
   Share Based Compensation 2,999,000.00 4,804,000.00 7,548,000.00 9,134,000.00
   Change in Working Capital 5,148,000.00 16,090,000.00 23,360,000.00 19,518,000.00
   Other Operating Activities -2,472,000.00 6,209,000.00 10,533,000.00 12,535,000.00
Investing Cash Flow -871,000.00 -59,543,000.00 -54,026,000.00 -74,248,000.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE -9,298,000.00 -7,926,000.00 -14,563,000.00 -9,116,000.00
   Net Purchase/Sale of Investments Net 19,443,000.00 -43,027,000.00 -11,839,000.00 -43,973,000.00
   Net Purchase/Sale of Business -5,346,000.00 -995,000.00 -19,773,000.00 -11,490,000.00
   Other Investing Activities -5,670,000.00 -7,595,000.00 -7,851,000.00 -9,669,000.00
Financing Cash Flow -21,004,000.00 -5,808,000.00 1,180,000.00 19,503,000.00
   Net Issuance/Repayment of Debt 14,374,000.00 3,113,000.00 11,839,000.00 -2,124,000.00
   Net Issuance/Repurchase of Equity 0 0 -1,823,000.00 -5,246,000.00
   Dividends Paid -8,263,000.00 -6,741,000.00 -13,087,000.00 0
   Other Financing Activities 0 0 4,251,000.00 26,873,000.00
Net Change in Cash 36,220,000.00 -5,789,000.00 4,973,000.00 -12,444,000.00
   Cash at Beginning of Period 79,398,000.00 85,115,000.00 76,693,000.00 90,519,000.00
   Cash at End of Period 115,716,000.00 79,398,000.00 85,115,000.00 76,693,000.00
Free Cash Flow 44,276,000.00 39,506,000.00 34,906,000.00 20,023,000.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31
Assets 713,529,000.00 706,939,000.00 677,862,000.00 698,234,000.00 643,559,000.00 0
   Current Assets 379,264,000.00 394,033,000.00 357,230,000.00 386,698,000.00 311,102,000.00 0
      Cash and Short-Term Investments 198,272,000.00 213,838,000.00 194,163,000.00 233,995,000.00 190,893,000.00 0
            Cash and Cash Equivalents 113,069,000.00 116,547,000.00 96,778,000.00 108,350,000.00 99,092,000.00 0
            Short-Term Investments 85,203,000.00 97,291,000.00 97,385,000.00 125,645,000.00 91,801,000.00 0
      Net Receivables 41,491,000.00 43,973,000.00 34,724,000.00 30,401,000.00 22,885,000.00 0
      Inventory 100,999,000.00 103,537,000.00 95,434,000.00 89,326,000.00 72,883,000.00 0
      Other Current Assets 38,502,000.00 32,685,000.00 32,909,000.00 32,976,000.00 24,441,000.00 0
   Non-Current Assets 334,265,000.00 312,906,000.00 320,632,000.00 311,536,000.00 332,457,000.00 0
      Property, Plant, Equipment Net 126,750,000.00 121,363,000.00 115,714,000.00 113,433,000.00 113,555,000.00 0
      Goodwill 27,594,000.00 25,709,000.00 25,709,000.00 25,709,000.00 21,729,000.00 0
      Intangible Assets 44,878,000.00 44,429,000.00 44,330,000.00 44,626,000.00 44,691,000.00 0
      Long-Term Investments 120,989,000.00 109,622,000.00 123,893,000.00 116,220,000.00 142,373,000.00 0
      Non-Current Deferred Assets 4,578,000.00 2,881,000.00 2,430,000.00 2,459,000.00 1,656,000.00 0
      Other Non-Current Assets 9,476,000.00 8,902,000.00 8,556,000.00 9,089,000.00 8,453,000.00 0
Liabilities 409,109,000.00 409,650,000.00 369,191,000.00 384,937,000.00 346,814,000.00 0
   Current Liabilities 316,549,000.00 322,632,000.00 284,129,000.00 299,521,000.00 265,553,000.00 0
      Payables and Expenses 244,519,000.00 263,186,000.00 235,812,000.00 224,350,000.00 213,672,000.00 0
            Account Payables 189,804,000.00 211,711,000.00 176,736,000.00 192,860,000.00 162,500,000.00 0
            Current Accrued Liabilities 46,937,000.00 44,555,000.00 50,626,000.00 18,689,000.00 41,635,000.00 0
      Short-Term Debt 29,506,000.00 23,517,000.00 12,031,000.00 15,187,000.00 17,359,000.00 0
      Other Current Liabilities 42,524,000.00 35,929,000.00 36,286,000.00 59,984,000.00 34,522,000.00 0
   Non-Current Liabilities 92,560,000.00 87,018,000.00 85,062,000.00 85,416,000.00 81,261,000.00 0
      Long-Term Debt 82,583,000.00 77,275,000.00 75,401,000.00 74,581,000.00 70,639,000.00 0
      Other Non-Current Liabilities 9,977,000.00 9,743,000.00 9,661,000.00 10,835,000.00 10,622,000.00 0
Equity 304,420,000.00 297,289,000.00 308,671,000.00 313,297,000.00 296,745,000.00 0
   Shareholders Equity 231,933,000.00 227,160,000.00 234,322,000.00 239,347,000.00 228,611,000.00 0
      Capital Stock 0 0 0 0 0 0
      Share Premium 0 0 0 182,404,000.00 0 184,043,000.00
      Retained Earnings 0 0 0 76,573,000.00 0 42,916,000.00
      Treasury Shares 0 0 0 27,739,000.00 0 11,451,000.00
      Accumulated Other Comprehensive Income 0 0 0 8,109,000.00 0 6,872,000.00
   Minority Interest 72,487,000.00 70,129,000.00 74,349,000.00 73,950,000.00 68,134,000.00 0
Debt 112,089,000.00 100,792,000.00 87,432,000.00 89,768,000.00 87,998,000.00 0
Common Shares Outstanding 2,838,000.00 2,836,000.00 2,883,000.00 2,903,433.25 2,899,000.00 0
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Revenues 299,059,000.00 356,660,000.00 301,082,000.00 346,986,000.00 260,387,000.00
Cost Of Revenue 248,585,000.00 300,020,000.00 253,234,000.00 293,869,000.00 215,344,000.00
Interest Expense 730,000.00 643,000.00 600,000.00 926,000.00 681,000.00
Non-Interest Expense 24,040,000.00 30,279,000.00 12,749,000.00 19,287,000.00 12,325,000.00
Gross Profit 50,474,000.00 56,640,000.00 47,848,000.00 53,117,000.00 45,043,000.00
Operating Expenses 51,688,000.00 57,723,000.00 37,315,000.00 43,792,000.00 32,999,000.00
   Selling, General and Administrative Expenses 24,040,000.00 30,279,000.00 12,749,000.00 19,287,000.00 12,325,000.00
   Research and Development Expenses 5,646,000.00 5,299,000.00 4,621,000.00 4,384,000.00 4,396,000.00
   Other Operating Expenses 22,002,000.00 22,145,000.00 19,617,000.00 20,121,000.00 16,278,000.00
Operating Income -1,214,000.00 -1,083,000.00 10,533,000.00 9,325,000.00 12,044,000.00
Net Non-Operating Income 5,674,000.00 6,129,000.00 2,079,000.00 -4,457,000.00 2,521,000.00
EBT 6,633,000.00 6,699,000.00 13,342,000.00 11,614,000.00 15,243,000.00
Income Tax 252,000.00 -10,000.00 2,063,000.00 750,000.00 2,406,000.00
Net Income Including Non-Controlling Interests 6,381,000.00 6,709,000.00 11,279,000.00 10,864,000.00 12,837,000.00
Net Income Non-Controlling Interests -1,105,000.00 -531,000.00 -389,000.00 -1,010,000.00 -1,106,000.00
Net Income 5,276,000.00 6,178,000.00 10,890,000.00 9,854,000.00 11,731,000.00
EBIT 7,363,000.00 7,342,000.00 13,942,000.00 12,540,000.00 15,924,000.00
Deprecation and Amortization 0 0 328,000.00 0 0
EBITDA 7,363,000.00 7,342,000.00 14,270,000.00 12,540,000.00 15,924,000.00
EPS 0.00 0.00 0.01 0.01 0.01
Diluted EPS 0.00 0.00 0.01 0.01 0.01
Average Shares Outstanding Basic 1,419,000.00 1,420,500.00 1,449,000.00 1,451,500.00 1,458,000.00
Average Shares Outstanding Diluted 1,484,000.00 1,485,000.00 1,517,500.00 1,520,500.00 1,517,500.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31
Operating Cash Flow -8,035,000.00 24,409,000.00 -18,262,000.00 24,891,000.00 -6,219,000.00 0
   Operating Net Income 0 0 0 0 0 7,365,000.00
   Deprecation and Amortization 0 0 0 0 0 2,217,000.00
   Deferred Income Tax 0 0 0 0 0 -173,000.00
   Share Based Compensation 0 0 0 0 0 759,000.00
   Change in Working Capital 0 0 0 0 0 -21,883,000.00
   Other Operating Activities 0 0 0 0 0 0
Investing Cash Flow -154,000.00 8,218,000.00 16,236,000.00 -12,483,000.00 21,725,000.00 0
   Capital Expenditure 0 0 -2,323,000.00 0 0 -2,880,000.00
   Net Purchase/Sale of PPE 0 0 0 0 0 -2,377,000.00
   Net Purchase/Sale of Investments Net 0 0 0 0 0 30,229,000.00
   Net Purchase/Sale of Business 0 0 0 0 0 70,000.00
   Other Investing Activities 0 0 0 0 0 0
Financing Cash Flow 8,004,000.00 -12,439,000.00 -7,288,000.00 -2,784,000.00 -1,806,000.00 0
   Net Issuance/Repayment of Debt 0 0 0 0 0 904,000.00
   Net Issuance/Repurchase of Equity 0 0 0 0 0 -8,363,000.00
   Dividends Paid 0 0 0 0 0 0
   Other Financing Activities 0 0 0 0 0 0
Net Change in Cash -185,000.00 20,188,000.00 -9,314,000.00 9,624,000.00 13,698,000.00 0
   Cash at Beginning of Period 126,157,000.00 106,057,000.00 115,716,000.00 104,954,000.00 92,047,000.00 0
   Cash at End of Period 125,335,000.00 126,157,000.00 106,057,000.00 115,716,000.00 104,954,000.00 0
Free Cash Flow -8,035,000.00 24,409,000.00 -20,585,000.00 11,072,000.00 -6,219,000.00 0