Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings -33.90 -20.47 -17.83 -17.01
Price to Sales 9.49 37.16 67.85 95.40
Book Value Per Common Share 2.83 3.44 2.25 2.48
Price to Book 11.49 17.49 22.14 18.77
Price to Operating Cash Flow -41.31 -26.94 -39.44 -33.08
Price to Free Cash Flow -37.63 -25.47 -35.52 -26.92
Enterprise Value to EBITDA
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings -148.23 -52.19 -62.83 232.43 -71.66
Price to Sales 22.11 25.62 31.97 31.98 55.75
Book Value Per Common Share 2.74 2.81 2.77 2.83 3.04
Price to Book 11.91 12.65 12.27 11.49 16.02
Price to Operating Cash Flow 209.04 -501.27 -60.10 -72.68 -117.79
Price to Free Cash Flow 252.99 -293.55 -58.96 -70.63 -114.66
Enterprise Value to EBITDA 2278314.49

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY
Revenue YoY 119.97 143.70 70.00
EBITDA YoY
Net Profit YoY
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY
Revenue YoY 6.77 30.76 4.57 16.43
EBITDA YoY
Net Profit YoY

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 6.14 7.43 6.45 6.26
Quick Ratio 4.49 6.77 3.59 4.11
Current Ratio 4.62 6.92 3.69 4.14
Debt to Equity 0.61 0.48 0.79 0.46
Long-Term Debt to Equity 0.34 0.30 0.39 0.16
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 5.38 5.25 5.47 6.12 6.62
Quick Ratio 2.76 4.51 5.00 4.49 4.86
Current Ratio 2.86 4.71 5.20 4.62 4.98
Debt to Equity 0.69 0.63 0.59 0.61 0.56
Long-Term Debt to Equity 0.27 0.38 0.36 0.34 0.31

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA -10.60 -28.03 -33.54 -36.05
ROE -17.01 -41.41 -59.97 -52.69
Gross Margin 62.60 49.42 44.14 100.00
Operating Margin -21.76 -174.76 -371.72 -590.32
EBITDA Margin -18.04 -167.59 -356.00 -570.10
Net Profit Margin -28.22 -181.75 -381.48 -586.38
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA -2.32 -7.42 -6.25 1.57 -7.22
ROE -3.92 -12.11 -9.92 2.53 -11.23
Gross Margin 57.66 61.58 63.42 60.37 65.38
Operating Margin -12.28 -46.88 -48.23 24.48 -72.02
EBITDA Margin -10.12 -44.59 -45.56 28.12 -69.58
Net Profit Margin -14.57 -49.16 -51.74 14.09 -78.23

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Dividend Yield
Dividend Payout Ratio
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 1,670,154.00 1,848,609.00 1,330,963.00 1,119,465.00
   Current Assets 1,283,918.00 1,497,799.00 1,099,119.00 949,850.00
      Cash and Short-Term Investments 1,122,683.00 1,308,717.00 1,025,650.00 882,395.00
            Cash and Cash Equivalents 286,749.00 1,277,713.00 786,031.00 688,938.00
            Short-Term Investments 835,934.00 31,004.00 239,619.00 193,457.00
      Net Receivables 124,888.00 157,061.00 44,515.00 58,547.00
      Inventory 23,903.00 19,433.00 10,354.00 1,749.00
      Other Current Assets 12,444.00 12,588.00 18,600.00 7,159.00
   Non-Current Assets 386,236.00 350,810.00 231,844.00 169,615.00
      Property, Plant, Equipment Net 201,594.00 189,678.00 161,672.00 142,957.00
      Goodwill 0 0 0 0
      Intangible Assets 174,224.00 155,277.00 68,685.00 16,805.00
      Long-Term Investments 4,362.00 4,362.00 0 4,705.00
      Non-Current Deferred Assets 0 0 0 0
      Other Non-Current Assets 0 0 0 0
Liabilities 629,608.00 597,238.00 586,651.00 353,521.00
   Current Liabilities 277,645.00 216,418.00 297,788.00 229,204.00
      Payables and Expenses 225,445.00 160,165.00 226,774.00 140,089.00
            Account Payables 37,194.00 30,055.00 31,693.00 7,043.00
            Current Accrued Liabilities 59,535.00 58,592.00 149,282.00 100,571.00
      Short-Term Debt 4,794.00 3,175.00 3,563.00 911.00
      Other Current Liabilities 47,406.00 53,078.00 67,451.00 88,204.00
   Non-Current Liabilities 351,963.00 380,820.00 288,863.00 124,317.00
      Long-Term Debt 345,809.00 325,497.00 280,971.00 122,055.00
      Other Non-Current Liabilities 6,154.00 55,323.00 7,892.00 2,262.00
Equity 1,040,546.00 1,251,371.00 744,312.00 765,944.00
   Shareholders Equity 1,040,546.00 1,251,371.00 744,312.00 765,944.00
      Capital Stock 37.00 36.00 33.00 31.00
      Share Premium 2,695,976.00 2,637,120.00 1,657,015.00 1,261,454.00
      Retained Earnings -1,661,736.00 -1,484,710.00 -966,456.00 -520,107.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income -68,158.00 44,304.00 14,671.00 4,864.00
   Minority Interest 0 0 0 0
Debt 350,603.00 328,672.00 284,534.00 122,966.00
Net Debt 14,447.00 0 0 0
Common Shares Outstanding 367,298.32 363,822.07 330,134.48 308,456.85
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 627,241.00 285,143.00 117,005.00 68,826.00
Cost Of Revenue 234,581.00 144,214.00 65,363.00 0
Interest Income 61,204.00 54,487.00 8,182.00 971.00
Interest Expense 21,615.00 21,794.00 10,796.00 900.00
Non-Interest Expense 284,264.00 200,927.00 174,048.00 149,503.00
Gross Profit 392,660.00 140,929.00 51,642.00 68,826.00
Operating Expenses 695,903.00 580,414.00 507,262.00 461,113.00
   Selling, General and Administrative Expenses 284,264.00 200,927.00 174,048.00 149,503.00
   Research and Development Expenses 413,544.00 382,218.00 335,648.00 313,346.00
   Other Operating Expenses -1,905.00 -2,731.00 -2,434.00 -1,736.00
Operating Income -303,243.00 -439,485.00 -455,620.00 -392,287.00
Net Non-Operating Income 598.00 -28,239.00 -8,993.00 -8,780.00
EBT -158,133.00 -520,118.00 -445,724.00 -407,196.00
Income Tax 18,893.00 -1,864.00 625.00 -3,614.00
Net Income Including Non-Controlling Interests -177,026.00 -518,254.00 -446,349.00 -403,582.00
Net Income -177,026.00 -518,254.00 -446,349.00 -403,582.00
EBIT -136,518.00 -498,324.00 -434,928.00 -406,296.00
Deprecation and Amortization 23,359.00 20,451.00 18,392.00 13,917.00
EBITDA -113,159.00 -477,873.00 -416,536.00 -392,379.00
EPS -0.00 -0.00 -0.00 -0.00
Diluted EPS -0.00 -0.00 -0.00 -0.00
Average Shares Outstanding Basic 182,851.07 176,082.71 159,041.96 140,851.65
Average Shares Outstanding Diluted 182,851.07 176,082.71 159,041.96 140,851.65
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow -144,033.00 -393,276.00 -201,281.00 -198,465.00
   Operating Net Income -158,133.00 -520,118.00 -445,724.00 -407,196.00
   Deprecation and Amortization 23,359.00 20,451.00 18,392.00 13,917.00
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 68,941.00 47,680.00 34,338.00 20,158.00
   Change in Working Capital 20,036.00 -71,344.00 181,029.00 161,834.00
   Other Operating Activities -98,236.00 130,055.00 10,684.00 12,822.00
Investing Cash Flow -850,544.00 92,786.00 -77,092.00 -194,983.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE -14,105.00 -20,084.00 -20,927.00 -42,193.00
   Net Purchase/Sale of Investments Net -782,098.00 213,385.00 -40,112.00 -147,875.00
   Net Purchase/Sale of Business 0 0 0 0
   Other Investing Activities -54,341.00 -100,515.00 -16,053.00 -4,915.00
Financing Cash Flow 5,698.00 791,490.00 377,976.00 626,663.00
   Net Issuance/Repayment of Debt -4,018.00 -3,755.00 -2,596.00 -1,419.00
   Net Issuance/Repurchase of Equity 0 0 377,643.00 623,440.00
   Dividends Paid 0 0 0 0
   Other Financing Activities 0 0 2,929.00 4,642.00
Net Change in Cash -988,879.00 491,000.00 99,603.00 233,215.00
   Cash at Beginning of Period 1,277,713.00 786,031.00 688,938.00 455,689.00
   Cash at End of Period 286,749.00 1,277,713.00 786,031.00 688,938.00
Free Cash Flow -158,138.00 -415,998.00 -223,556.00 -243,869.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Assets 1,712,948.00 1,689,914.00 1,615,649.00 1,670,154.00 1,735,825.00
   Current Assets 1,242,004.00 1,249,874.00 1,218,792.00 1,283,918.00 1,350,037.00
      Cash and Short-Term Investments 992,591.00 967,555.00 1,005,380.00 1,122,683.00 1,212,400.00
            Cash and Cash Equivalents 278,893.00 266,586.00 441,702.00 286,749.00 459,277.00
            Short-Term Investments 713,698.00 700,969.00 563,678.00 835,934.00 753,123.00
      Net Receivables 202,567.00 228,992.00 166,847.00 124,888.00 103,979.00
      Inventory 29,184.00 35,589.00 30,933.00 23,903.00 23,548.00
      Other Current Assets 17,662.00 17,738.00 15,632.00 12,444.00 10,110.00
   Non-Current Assets 470,944.00 440,040.00 396,857.00 386,236.00 385,788.00
      Property, Plant, Equipment Net 253,741.00 233,598.00 206,579.00 201,594.00 203,859.00
      Goodwill 0 0 0 0 0
      Intangible Assets 206,213.00 200,783.00 184,695.00 174,224.00 175,488.00
      Long-Term Investments 0 0 0 4,362.00 4,509.00
      Non-Current Deferred Assets 0 0 0 0 0
      Other Non-Current Assets 0 5,659.00 5,583.00 6,056.00 1,932.00
Liabilities 701,688.00 654,375.00 597,900.00 629,608.00 619,718.00
   Current Liabilities 433,572.00 265,482.00 234,373.00 277,645.00 270,894.00
      Payables and Expenses 259,746.00 225,747.00 188,962.00 225,445.00 202,837.00
            Account Payables 102,455.00 75,361.00 58,143.00 37,194.00 26,906.00
            Current Accrued Liabilities 0 0 51,747.00 59,535.00 139,258.00
      Short-Term Debt 150,247.00 5,906.00 5,341.00 4,794.00 4,342.00
      Other Current Liabilities 23,579.00 33,829.00 40,070.00 47,406.00 63,715.00
   Non-Current Liabilities 268,116.00 388,893.00 363,527.00 351,963.00 348,824.00
      Long-Term Debt 259,991.00 382,006.00 357,469.00 345,809.00 342,249.00
      Other Non-Current Liabilities 8,125.00 6,887.00 6,058.00 6,154.00 6,575.00
Equity 1,011,260.00 1,035,539.00 1,017,749.00 1,040,546.00 1,116,107.00
   Shareholders Equity 1,011,260.00 1,035,539.00 1,017,749.00 1,040,546.00 1,116,107.00
      Capital Stock 37.00 37.00 37.00 37.00 37.00
      Share Premium 2,738,314.00 2,734,394.00 2,712,844.00 2,695,976.00 2,685,727.00
      Retained Earnings -1,927,721.00 -1,888,032.00 -1,762,652.00 -1,661,736.00 -1,688,020.00
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income 115,894.00 116,771.00 -7,429.00 -68,158.00 47,678.00
   Minority Interest 0 0 0 0 0
Debt 410,238.00 387,912.00 362,810.00 350,603.00 346,591.00
Net Debt 35,910.00 43,678.00 0 14,447.00 0
Common Shares Outstanding 369,379.13 369,141.41 368,058.08 367,298.32 366,901.01
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Revenues 272,330.00 255,058.00 195,053.00 186,522.00 160,205.00
Cost Of Revenue 115,306.00 97,991.00 71,344.00 73,922.00 55,469.00
Interest Income 9,661.00 10,433.00 12,056.00 13,654.00 16,630.00
Interest Expense 5,636.00 5,222.00 5,061.00 5,152.00 5,504.00
Non-Interest Expense 87,328.00 80,646.00 72,432.00 83,126.00 79,570.00
Gross Profit 157,024.00 157,067.00 123,709.00 112,600.00 104,736.00
Operating Expenses 200,476.00 178,948.00 174,356.00 186,995.00 175,092.00
   Selling, General and Administrative Expenses 87,328.00 80,646.00 72,432.00 83,126.00 79,570.00
   Research and Development Expenses 113,148.00 98,302.00 101,924.00 104,432.00 95,522.00
   Other Operating Expenses 0 0 0 -563.00 -306.00
Operating Income -43,452.00 -21,881.00 -50,647.00 -74,395.00 -70,356.00
Net Non-Operating Income 482.00 1,865.00 684.00 1,481.00 160.00
EBT -39,073.00 -124,798.00 -99,130.00 40,511.00 -120,886.00
Income Tax 616.00 582.00 1,786.00 14,227.00 4,435.00
Net Income Including Non-Controlling Interests -39,689.00 -125,380.00 -100,916.00 26,284.00 -125,321.00
Net Income -39,689.00 -125,380.00 -100,916.00 26,284.00 -125,321.00
EBIT -33,437.00 -119,576.00 -94,069.00 45,663.00 -115,382.00
Deprecation and Amortization 5,879.00 5,854.00 5,199.00 6,796.00 3,907.00
EBITDA -27,558.00 -113,722.00 -88,870.00 52,459.00 -111,475.00
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 184,636.62 184,135.56 183,762.93 183,324.28 183,281.24
Average Shares Outstanding Diluted 184,636.62 184,135.56 183,762.93 201,403.50 183,281.24
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Operating Cash Flow 28,801.00 -13,042.00 -103,754.00 -82,078.00 -75,822.00
   Operating Net Income -39,073.00 -124,798.00 -99,130.00 40,511.00 -120,886.00
   Deprecation and Amortization 5,879.00 5,854.00 5,199.00 6,796.00 3,907.00
   Deferred Income Tax 0 0 0 0 0
   Share Based Compensation 15,015.00 18,697.00 15,946.00 13,388.00 15,111.00
   Change in Working Capital 77,048.00 -36,587.00 -73,589.00 -80,076.00 1,993.00
   Other Operating Activities -30,068.00 123,792.00 47,820.00 -62,697.00 24,053.00
Investing Cash Flow -20,001.00 -165,525.00 256,640.00 -87,842.00 329,077.00
   Capital Expenditure 0 0 0 0 0
   Net Purchase/Sale of PPE -5,005.00 -9,224.00 -2,002.00 -2,378.00 -2,065.00
   Net Purchase/Sale of Investments Net -6,317.00 -150,000.00 274,000.00 -80,233.00 346,557.00
   Net Purchase/Sale of Business 0 0 0 0 0
   Other Investing Activities -8,679.00 -6,301.00 -15,358.00 -5,231.00 -15,415.00
Financing Cash Flow 670.00 -990.00 667.00 -333.00 4,245.00
   Net Issuance/Repayment of Debt -602.00 -1,263.00 -777.00 -936.00 -1,164.00
   Net Issuance/Repurchase of Equity 0 0 0 0 0
   Dividends Paid 0 0 0 0 0
   Other Financing Activities 0 0 0 603.00 5,409.00
Net Change in Cash 9,470.00 -179,557.00 153,553.00 -170,253.00 257,500.00
   Cash at Beginning of Period 266,586.00 441,702.00 286,749.00 459,277.00 201,253.00
   Cash at End of Period 278,893.00 266,586.00 441,702.00 286,749.00 459,277.00
Free Cash Flow 23,796.00 -22,266.00 -105,756.00 -84,456.00 -77,887.00