Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings 9.49 -3.74 -0.64 -7.14 73.89
Price to Sales 1.12 0.16 0.11 0.33 0.54
Book Value Per Common Share 5.16 3.20 3.38 7.22 8.74
Price to Book 2.94 0.67 0.40 0.69 0.76
Price to Operating Cash Flow 3.01 -2.02 -15.70 2.17 -6.97
Price to Free Cash Flow 3.14 -1.74 -2.63 2.67 -5.26
Enterprise Value to EBITDA 67114.54
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Price to Earnings 19.09 19.02 57.41 15.00 34.23 -2.84 -6.11 -284.67
Price to Sales 3.74 4.10 4.44 2.56 1.37 0.39 1.98 2.31
Book Value Per Common Share 7.61 6.71 5.97 5.16 4.85 3.25 3.20 3.09 3.38 5.50 7.22 8.34 8.74
Price to Book 1.93 2.30 2.79 2.94 1.89 1.37 0.67 0.43 0.40 0.97 0.69 1.02 0.76
Price to Operating Cash Flow 8.02 23.14 12.56 4.80 8.03 -4.27 -3.25 65.44
Price to Free Cash Flow 8.22 24.67 13.20 4.96 8.81 -3.75 -2.98 254.17
Enterprise Value to EBITDA 411316.10 144290.32

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Earning YoY
Revenue YoY 7.60 10.78 -19.27 22.73
EBITDA YoY
Net Profit YoY 658.78
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Earning YoY -4.94 179.31 -52.46 369.23
Revenue YoY 6.42 3.56 23.86 14.00 -2.36 28.29 -27.72
EBITDA YoY
Net Profit YoY -3.38 189.81 -44.36 389.12

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Cash Per Common Share 2.50 0.83 1.12 2.29 1.82
Quick Ratio
Current Ratio
Debt to Equity 4.62 8.21 7.86 3.38 2.42
Long-Term Debt to Equity
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Cash Per Common Share 10.52 9.58 2.78 2.22 8.59 0.29 0.83 0.98 1.12 0.55 2.32 2.08 1.83
Quick Ratio
Current Ratio
Debt to Equity 2.98 3.15 3.69 4.62 4.82 7.90 8.21 8.93 7.86 4.27 3.38 2.45 2.42
Long-Term Debt to Equity

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA 4.90 -1.94 -7.03 2.23 0.31
ROE 27.52 -17.88 -62.28 9.75 1.05
Gross Margin 59.63 42.54
Operating Margin 17.28 -2.33 -19.92 -4.70
EBITDA Margin 18.85 -0.27 -17.38 -2.66
Net Profit Margin 11.83 -4.28 -17.31 4.58 0.74
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
ROA 2.54 2.86 1.01 2.01 0.45 -1.53 2.99 -0.10
ROE 10.10 11.86 4.72 11.69 3.99 -15.19 15.73 -0.35
Gross Margin
Operating Margin 24.76 27.24 9.79 24.49 7.82 -14.45 -39.26
EBITDA Margin 11.03 9.49 -12.25 -36.56
Net Profit Margin 19.54 21.52 7.69 17.12 3.99 -13.80 32.21 -0.79

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Dividend Yield
Dividend Payout Ratio
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Dividend Yield
Dividend Payout Ratio

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Assets 374,915.84 317,633.21 320,332.53 331,312.28 317,582.27
   Deposits 2,465.46 3,329.96 2,617.82 1,134.61 19,501.76
      Cash and Short-Term Investments 28,669.44 8,977.00 11,958.23 24,290.60 19,463.74
            Cash and Cash Equivalents 28,669.44 8,977.00 11,958.23 24,290.60 19,463.74
            Short-Term Investments 0 0 0 0 0
      Net Receivables 21,766.99 13,604.81 13,880.50 12,318.34 11,819.64
      Inventory 0 0 0 0 0
      Other Current Assets 0 0 0 0 0
      Property, Plant, Equipment Net 9,283.97 9,443.42 10,767.21 10,086.92 9,032.56
      Goodwill 0 0 0 0 0
      Intangible Assets 500.00 4,850.00 4,850.00 500.00 500.00
      Long-Term Investments 0 0 0 0 0
      Non-Current Deferred Assets 5,597.92 10,551.82 10,331.16 192.25 3,880.28
      Other Non-Current Assets 0 0 0 0 0
Liabilities 308,207.39 283,129.07 284,163.10 255,640.08 224,781.86
      Payables and Expenses 0 0 0 0 516.00
            Account Payables 0 0 0 0 0
            Current Accrued Liabilities 0 0 0 0 516.00
      Short-Term Debt 11,171.42 25,243.53 25,158.52 29,823.79 949.43
      Other Current Liabilities 0 0 0 0 0
      Long-Term Debt 4,322.16 25,243.53 0 0 0
      Other Non-Current Liabilities 0 0 0 0 0
Equity 66,708.45 34,504.14 36,169.43 75,672.19 92,800.40
   Shareholders Equity 66,708.45 34,504.14 36,169.43 75,672.19 92,800.40
      Capital Stock 144.48 122.48 121.72 119.56 118.71
      Share Premium 0 0 0 72,467.48 70,769.16
      Retained Earnings -4,755.87 -23,114.31 -16,945.96 6,855.90 15,928.34
      Treasury Shares -5,568.01 -5,567.48 -5,567.48 -5,567.48 0
      Accumulated Other Comprehensive Income -12,175.48 -12,274.56 -15,958.43 1,796.74 9,880.06
   Minority Interest 0 0 0 0 0
Investments 406,939.38 334,503.32 344,340.30 387,502.72 371,286.74
Debt 11,171.42 25,243.53 25,158.52 29,823.79 29,647.61
Net Debt 0 16,266.53 13,200.30 5,533.19 10,183.87
Common Shares Outstanding 12,924.08 10,776.91 10,700.11 10,484.25 10,616.82
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Revenues 155,142.10 144,190.71 130,159.29 161,231.24 131,369.75
   Net Premiums 128,497.92 114,384.26 114,384.53 143,881.72 108,080.63
Cost Of Revenue 62,634.72 82,849.21 0 0 0
Gross Profit 92,507.39 61,341.50 0 0 0
Operating Expenses 131,853.95 151,556.24 158,101.63 170,640.68 132,657.56
   Selling, General and Administrative Expenses 100.00 86.00 114.00 110.00 132.00
   Other Operating Expenses 131,753.95 151,470.24 157,987.63 170,530.68 132,525.56
Operating Income -39,346.56 -90,214.74 0 0 0
Interest Expense 3,513.66 4,002.53 2,019.05 1,826.18 1,826.18
EBT 23,288.16 -7,365.53 -27,942.34 -9,409.44 0
Income Tax 4,929.72 1,197.18 5,417.55 2,031.14 2,260.20
Net Income Including Non-Controlling Interests 0 0 0 0 972.39
Net Income Non-Controlling Interests 0 0 0 0 0.00
Net Income 18,358.44 -6,168.35 -22,524.79 7,378.30 972.39
EBIT 26,801.81 -3,363.00 -25,923.29 -7,583.26 0
Deprecation and Amortization 2,448.93 2,973.44 3,300.45 3,290.45 2,864.58
EBITDA 29,250.74 -389.56 -22,622.85 -4,292.81 0
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 11,478.90 10,756.49 10,645.36 10,587.91 10,721.34
Average Shares Outstanding Diluted 12,423.77 10,756.49 10,645.36 10,587.91 10,730.74
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow 57,947.77 -11,326.85 -915.52 24,346.24 -10,234.63
   Operating Net Income 18,358.44 6,168.35 22,524.79 7,378.30 972.39
   Deprecation and Amortization 2,448.93 2,973.44 3,300.45 3,290.45 2,864.58
   Deferred Income Tax 4,927.56 -1,199.91 -5,419.18 -2,200.43 3,109.30
   Share Based Compensation 1,382.91 832.60 1,392.61 1,904.93 1,769.65
   Change in Working Capital 6,450.02 -4,285.62 -5,025.97 8,258.20 -11,481.36
   Other Operating Activities 24,379.91 -15,815.70 -17,688.23 5,714.79 -7,469.18
Investing Cash Flow -35,261.44 9,461.70 -5,905.78 -15,947.86 581.29
   Capital Expenditure -2,337.20 -1,827.20 -4,550.78 -4,498.92 -3,327.07
   Net Purchase/Sale of PPE -2,337.20 -1,827.20 -4,550.78 -4,498.92 -3,327.07
   Net Purchase/Sale of Investments Net 132,076.66 62,785.57 47,378.42 82,171.90 11,336.65
   Net Purchase/Sale of Business 0 0 0 0 0
   Other Investing Activities -162,663.69 -49,669.47 -44,182.63 -89,121.93 -4,101.22
Financing Cash Flow -2,993.89 -1,116.08 -5,511.07 -3,571.52 -3,274.41
   Net Issuance/Repayment of Debt -6,153.86 -1,088.37 -191.17 0 0
   Net Issuance/Repurchase of Equity 13,674.52 0 60.46 1,671.60 1,183.33
   Dividends Paid 0 0 1,277.07 1,694.15 1,957.14
   Other Financing Activities -10,514.54 -27.71 -6,657.43 -6,937.27 -6,414.88
Net Change in Cash 19,692.44 -2,981.23 -12,332.37 4,826.86 0
   Cash at Beginning of Period 8,977.00 11,958.23 24,290.60 0 0
   Cash at End of Period 28,669.44 8,977.00 11,958.23 0 0
Free Cash Flow 55,610.57 -13,154.05 -5,466.30 19,847.32 -13,561.70
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Assets 428,590.24 393,421.53 385,439.24 374,915.84 346,994.40 318,292.72 317,633.21 330,397.48 320,332.53 307,898.14 331,312.28 306,884.21 317,582.27
   Deposits 0 0 0 2,465.46 0 0 3,329.96 0 2,617.82 0 1,134.61 0 19,501.76
      Cash and Short-Term Investments 148,808.84 133,348.11 37,490.18 28,669.44 97,989.57 3,199.30 8,977.00 10,500.75 11,958.23 5,833.89 24,290.60 22,179.96 19,463.74
            Cash and Cash Equivalents 26,772.30 33,714.43 37,490.18 28,669.44 33,760.80 3,199.30 8,977.00 10,500.75 11,958.23 5,833.89 24,290.60 22,179.96 19,463.74
            Short-Term Investments 122,036.54 99,633.68 0 0 64,228.77 0 0 0 0 0 0 0 0
      Net Receivables 78,271.71 72,717.01 17,012.84 21,766.99 83,348.24 13,902.80 13,604.81 13,339.04 13,880.50 11,029.21 12,318.34 10,885.62 11,819.64
      Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Current Assets 0 0 0 0 0 0 0 0 0 0 0 0 0
      Property, Plant, Equipment Net 7,861.01 7,853.19 8,083.11 9,283.97 9,299.16 9,340.16 9,443.42 10,199.88 10,767.21 10,086.61 10,086.92 8,294.85 9,032.56
      Goodwill 0 0 0 0 0 0 0 0 0 0 0 0 0
      Intangible Assets 0 0 500.00 500.00 0 500.00 4,850.00 0 4,850.00 500.00 500.00 500.00 500.00
      Long-Term Investments 269,093.97 234,751.68 0 0 183,787.23 0 0 0 0 0 0 0 0
      Non-Current Deferred Assets 0 0 5,132.77 5,597.92 0 10,290.87 10,551.82 11,061.42 10,331.16 4,367.63 192.25 3,783.50 3,880.28
      Other Non-Current Assets 0 0 0 0 0 0 0 0 0 0 0 0 0
Liabilities 320,937.20 298,543.63 303,229.28 308,207.39 287,324.67 282,542.92 283,129.07 297,115.48 284,163.10 249,437.95 255,640.08 217,871.53 224,781.86
      Payables and Expenses 7,522.32 8,600.00 0 0 9,866.56 0 0 0 0 0 0 0 516.00
            Account Payables 5,690.03 5,440.52 0 0 9,866.56 0 0 0 0 0 0 0 0
            Current Accrued Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 516.00
      Short-Term Debt 0 0 1,241.29 11,171.42 0 25,258.27 25,243.53 25,176.02 25,158.52 29,867.84 29,823.79 0 949.43
      Other Current Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0
      Long-Term Debt 4,752.68 5,060.71 4,122.97 4,322.16 17,297.59 0 25,243.53 0 0 0 0 0 0
      Other Non-Current Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0
Equity 107,653.04 94,877.89 82,209.96 66,708.45 59,669.73 35,749.81 34,504.14 33,282.00 36,169.43 58,460.19 75,672.19 89,012.68 92,800.40
   Shareholders Equity 107,653.04 94,877.89 82,209.96 66,708.45 59,669.73 35,749.81 34,504.14 33,282.00 36,169.43 58,460.19 75,672.19 89,012.68 92,800.40
      Capital Stock 156.72 156.61 152.83 144.48 138.19 124.79 122.48 122.32 121.72 121.09 119.56 119.35 118.71
      Share Premium 99,264.37 98,840.73 0 0 84,334.04 0 0 0 0 72,638.29 72,467.48 71,116.92 70,769.16
      Retained Earnings 20,544.49 10,379.12 -873.21 -4,755.87 -10,194.55 -21,687.63 -23,114.31 -22,000.67 -16,945.96 -2,767.13 6,855.90 15,190.03 15,928.34
      Treasury Shares 5,568.01 5,568.01 -5,568.01 -5,568.01 5,567.83 -5,567.48 -5,567.48 -5,567.48 -5,567.48 -5,567.48 -5,567.48 0 0
      Accumulated Other Comprehensive Income -6,744.53 -8,930.56 -9,952.29 -12,175.48 -9,040.11 -12,714.97 -12,274.56 -14,007.08 -15,958.43 -5,964.58 1,796.74 6,548.18 9,880.06
   Minority Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 0 0 441,635.42 406,939.38 0 358,281.83 334,503.32 345,706.28 344,340.30 364,342.44 387,502.72 361,661.16 371,286.74
Debt 4,752.68 5,060.71 5,364.27 11,171.42 17,297.59 25,258.27 25,243.53 25,176.02 25,158.52 29,867.84 29,823.79 29,691.66 29,647.61
Net Debt 0 0 0 0 0 22,058.97 16,266.53 14,675.27 13,200.30 24,033.95 5,533.19 7,511.70 10,183.87
Common Shares Outstanding 14,147.43 14,137.11 13,759.29 12,924.08 12,312.30 11,008.02 10,776.91 10,760.56 10,700.11 10,637.90 10,484.25 10,672.79 10,616.82
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Revenues 55,652.49 52,294.78 50,498.78 40,771.73 35,765.18 36,627.76 28,551.29 39,503.20
   Net Premiums 0 0 43,523.06 0 28,819.90 28,254.95 26,673.38 34,589.22
Operating Expenses 0 0 45,780.43 0 33,960.47 42,931.45 40,216.84 39,882.74
   Other Operating Expenses 1,330.26 1,153.48 45,780.43 1,241.57 33,960.47 42,931.45 40,216.84 39,882.74
Interest Expense 72.61 77.07 227.45 900.58 993.88 1,009.89 456.55 456.55
EBT 13,706.12 14,166.70 4,718.34 9,084.08 1,804.70 -6,303.68 -11,665.55 0
Income Tax 2,833.65 2,914.37 835.68 2,105.93 378.02 1,248.97 0.00 68.44
Net Income Including Non-Controlling Interests 10,872.48 11,252.33 0 6,978.15 0 0 0 0
Net Income 10,872.48 11,252.33 3,882.66 6,978.15 1,426.68 -5,054.71 9,197.53 -311.10
EBIT 13,778.73 14,243.78 4,945.80 9,984.66 2,798.58 -5,293.79 -11,209.00 0
Deprecation and Amortization 644.65 613.36 623.86 619.06 596.51 808.13 770.11 822.34
EBITDA 0 0 5,569.66 0 3,395.09 -4,485.66 -10,438.89 0
EPS 0.00 0.00 0.00 0.00 0.00 -0.00 -0.00 -0.00
Diluted EPS 0.00 0.00 0.00 0.00 0.00 -0.00 0.00 -0.00
Average Shares Outstanding Basic 14,142.37 13,925.71 13,472.40 11,404.36 10,999.66 10,756.91 10,630.45 10,676.30
Average Shares Outstanding Diluted 14,601.24 14,387.54 14,272.50 12,581.13 11,791.52 10,756.91 10,630.45 10,676.30
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Operating Cash Flow 25,929.81 9,274.43 17,857.31 21,744.69 6,098.22 -3,366.80 -17,388.08 1,392.80
   Operating Net Income 10,872.48 11,252.33 3,882.66 6,978.15 -1,426.68 -5,054.71 9,197.53 -311.10
   Deprecation and Amortization 0 0 623.86 0 596.51 808.13 770.11 822.34
   Deferred Income Tax 388.40 -246.47 -125.82 2,105.93 378.02 -1,248.97 0 -132.99
   Share Based Compensation 430.17 471.86 339.01 359.17 265.79 216.77 530.41 495.00
   Change in Working Capital 13,747.52 -2,262.24 -1,404.80 12,153.49 1,071.29 -556.63 -4,046.11 -1,122.87
   Other Operating Activities 491.23 58.96 14,542.40 147.96 5,213.28 2,468.61 -23,840.03 1,642.42
Investing Cash Flow -31,850.38 -12,668.63 -11,844.07 393.84 -11,587.35 2,189.59 -285.07 1,963.16
   Capital Expenditure 0 0 -863.47 0 -540.98 -466.07 -1,565.13 -1,034.06
   Net Purchase/Sale of PPE -652.47 -576.99 -863.47 -700.49 -540.98 -466.07 -1,565.13 -1,034.06
   Net Purchase/Sale of Investments Net -31,197.92 -12,091.64 6,669.56 1,094.33 -11,046.38 13,630.48 10,181.66 3,988.33
   Net Purchase/Sale of Business 0 0 0 0 0 0 0 0
   Other Investing Activities 0.00 0.00 -16,786.69 0.00 540.98 -10,508.75 -7,336.47 42.95
Financing Cash Flow -1,021.55 -381.55 2,807.50 -548.73 -288.57 -280.26 -783.57 -639.74
   Net Issuance/Repayment of Debt -308.02 -303.56 -6,249.15 -8,290.54 -282.18 -266.16 0 0
   Net Issuance/Repurchase of Equity -13.93 -61.31 9,601.84 8,897.91 0 0 28,256.33 65.92
   Dividends Paid 0 0 0 0 0 0 425.49 427.22
   Other Financing Activities -699.60 -16.68 -545.18 -1,156.09 -6.39 -14.10 -29,465.39 -1,132.87
Net Change in Cash -6,942.13 -3,775.75 8,820.74 21,589.81 -5,777.70 -1,457.47 -18,456.71 0
   Cash at Beginning of Period 33,714.43 37,490.18 28,669.44 12,170.99 8,977.00 11,958.23 0 0
   Cash at End of Period 26,772.30 33,714.43 37,490.18 33,760.80 3,199.30 10,500.75 0 0
Free Cash Flow 25,277.34 8,697.44 16,993.84 21,044.20 5,557.24 -3,832.88 -18,953.21 358.74