Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 10.54 -11.90 19.08 305.00
Price to Sales 1.65
Book Value Per Common Share 7.26 7.11 9.27 11.16
Price to Book 1.03 1.12 1.01 1.09
Price to Operating Cash Flow 13.62 -21.41 -154.04 18.25
Price to Free Cash Flow
Enterprise Value to EBITDA 25601.16 366096.18 83082.83 359239.78
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30
Price to Earnings 8.70 11.98 16.54 12.82 19.74 46.27 114.17 -600.00 -65.60 15.31 29.09 70.06
Price to Sales 1.89 2.84 4.71
Book Value Per Common Share 7.26 7.42 7.27 7.18 7.11 8.71 8.78 8.73 9.27 9.17 10.65 10.82 11.16 11.20 8.75
Price to Book 1.03 0.86 0.84 0.97 1.12 0.79 0.68 0.75 1.01 0.82 0.87 1.04 1.09
Price to Operating Cash Flow 8.17 30.69 97.55 12.10 40.24 -332.06 32.81 280.37 -170.83 15.92 113.95 -41.41
Price to Free Cash Flow
Enterprise Value to EBITDA 27923.52 41549.73 66285.89 29255.38 43055.44 98960.49 54472.95 81430.51 289304.16 96268.46 129569.43 317424.07

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY 1125.00
Revenue YoY
EBITDA YoY 1243.02 -51.65 403.84
Net Profit YoY 1837.02
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30
Earning YoY 34.43 48.78 61.29 106.67 53.13 100.00
Revenue YoY 46.86 79.14 -68.14
EBITDA YoY 45.15 72.32 54.17 102.72 70.79 224.99 64.64 103.75 158.88 -21.18
Net Profit YoY 34.49 48.15 61.54 101.36 56.61 105.38

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 17.97 18.77 13.47 18.81
Quick Ratio
Current Ratio
Debt to Equity 4.17 4.04 0.54 3.43
Long-Term Debt to Equity
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30
Cash Per Common Share 20.91 16.71 23.74 17.79 20.69 19.66 18.64 8.93 17.06 31.17 13.51 10.20 32.14 29.01 48.34 13.17 77.01 25.32
Quick Ratio
Current Ratio
Debt to Equity 9.22 8.69 8.73 4.17 9.38 9.53 9.38 4.04 7.88 8.19 7.57 0.54 7.36 9.12 8.74 3.43 7.90 9.68
Long-Term Debt to Equity

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 0.81 -0.40 0.19 0.03
ROE 4.21 -2.01 0.30 0.12
Gross Margin 99.85
Operating Margin 54.48
EBITDA Margin 65.15
Net Profit Margin 15.64
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30
ROA 0.98 0.79 0.54 0.65 0.40 0.21 0.08 -0.02 -0.13 0.43 0.30 0.15 -0.05 0.68
ROE 10.01 7.63 5.22 6.72 4.25 2.13 0.73 -0.15 -1.10 3.58 2.99 1.43 -0.45 7.28
Gross Margin 98.88 99.40 99.57
Operating Margin 59.09 59.97 62.76
EBITDA Margin 68.05 68.85 71.58
Net Profit Margin 21.76 23.76 28.73

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Dividend Yield 0.00
Dividend Payout Ratio 505.88
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30
Dividend Yield
Dividend Payout Ratio

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 3,221,732.00 2,997,962.00 2,912,881.00 1,063,102.00
   Deposits 4,785,564.00 4,672,956.00 3,233,544.00 771,665.00
      Cash and Short-Term Investments 664,776.00 333,307.00 152,366.00 129,396.00
            Cash and Cash Equivalents 664,776.00 333,307.00 152,366.00 129,396.00
            Short-Term Investments 0 0 0 0
      Net Receivables 6,884,192.00 1,751,423.00 0 0
      Inventory 0 0 0 0
      Other Current Assets 0 0 0 0
      Property, Plant, Equipment Net 32,068.00 36,907.00 16,962.00 9,969.00
      Goodwill 58,806.00 56,968.00 35,842.00 35,842.00
      Intangible Assets 27,258.00 27,258.00 1,914.00 1,914.00
      Long-Term Investments 0 0 0 0
      Non-Current Deferred Assets 18,866.00 24,153.00 5,619.00 4,038.00
      Other Non-Current Assets 0 0 0 0
Liabilities 2,598,557.00 2,403,529.00 1,025,101.00 823,140.00
      Payables and Expenses 0 0 0 0
            Account Payables 0 0 0 0
            Current Accrued Liabilities 0 0 0 0
      Short-Term Debt 30,000.00 10,000.00 20,938.00 0
      Other Current Liabilities 0 0 0 0
      Long-Term Debt 0 0 0 0
      Other Non-Current Liabilities 0 0 0 0
Equity 623,175.00 594,433.00 1,887,780.00 239,962.00
   Shareholders Equity 271,131.00 265,313.00 138,553.00 109,623.00
      Capital Stock 370.00 369.00 149.00 99.00
      Share Premium 264,449.00 263,310.00 117,709.00 82,910.00
      Retained Earnings 19,947.00 4,843.00 27,100.00 24,836.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income -4,545.00 -3,209.00 -6,405.00 1,778.00
   Minority Interest 0 483.00 0 0
Investments 459,750.00 420,598.00 292,926.00 213,453.00
Debt 301,013.00 275,364.00 167,637.00 87,464.00
Net Debt 0 0 15,271.00 0
Common Shares Outstanding 37,370.92 37,340.70 14,939.64 9,826.43
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 167,586.00 0 0 0
Cost Of Revenue 257.00 9,295.00 1,290.00 648.00
Interest Income 163,614.00 67,164.00 40,797.00 18,943.00
Interest Expense 58,830.00 28,413.00 8,780.00 2,639.00
Net Interest 99,894.00 38,711.00 32,985.00 16,106.00
Non-Interest Income 8,862.00 1,087.00 2,957.00 2,139.00
Non-Interest Expense 74,904.00 45,832.00 27,832.00 17,497.00
Provisions for Credit Losses 257.00 9,295.00 1,290.00 648.00
Gross Profit 167,329.00 0 0 0
   Selling, General and Administrative Expenses 12,204.00 5,871.00 4,141.00 2,032.00
EBT 32,467.00 -22,390.00 4,766.00 -201.00
Income Tax 6,032.00 4,489.00 815.00 388.00
Net Income 26,209.00 -11,968.00 5,598.00 289.00
EBIT 91,297.00 6,023.00 13,546.00 2,438.00
Deprecation and Amortization 17,877.00 2,106.00 3,267.00 899.00
EBITDA 109,174.00 8,129.00 16,813.00 3,337.00
EPS 0.00 -0.00 0.00 0.00
Diluted EPS 0.00 -0.00 0.00 0.00
Average Shares Outstanding Basic 36,990.67 17,753.91 11,310.39 6,879.66
Average Shares Outstanding Diluted 37,105.61 17,753.91 11,310.39 7,250.46
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 20,309.00 -6,610.00 -686.00 4,600.00
   Operating Net Income 104,836.00 -47,872.00 16,794.00 867.00
   Deprecation and Amortization 17,877.00 2,106.00 3,267.00 -899.00
   Deferred Income Tax 6,530.00 -3,446.00 1,184.00 76.00
   Share Based Compensation 0 0 0 0
   Change in Working Capital 0 0 0 0
   Other Operating Activities -108,934.00 42,602.00 -21,931.00 4,556.00
Investing Cash Flow -118,118.00 56,832.00 -255,786.00 -3,265.00
   Capital Expenditure 0.00 0.00 0.00 0.00
   Net Purchase/Sale of PPE 5,852.00 1,153.00 2,304.00 391.00
   Net Purchase/Sale of Investments Net 106,364.00 153,268.00 54,536.00 30,121.00
   Net Purchase/Sale of Business 0 -49,759.00 0 -36,805.00
   Net Loan & Lease Activity 13,255.00 8,285.00 11,903.00 21,592.00
   Other Investing Activities -243,589.00 -56,115.00 -324,529.00 -18,564.00
Financing Cash Flow 171,548.00 -2,982.00 279,103.00 -11,643.00
   Net Issuance/Repayment of Debt 40,000.00 -65,640.00 41,124.00 14,340.00
   Net Issuance/Repurchase of Equity 333.00 20,564.00 69,540.00 120.00
   Dividends Paid 11,105.00 4,870.00 3,334.00 -1,462.00
   Other Financing Activities 120,110.00 37,224.00 165,105.00 -24,641.00
Net Change in Cash 73,739.00 47,240.00 22,631.00 0
   Cash at Beginning of Period 92,361.00 32,950.00 7,380.00 0
   Cash at End of Period 166,100.00 80,190.00 30,011.00 0
Free Cash Flow 0 0 0 0
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30
Assets 3,122,371.00 2,886,554.00 2,861,489.00 3,221,732.00 2,879,941.00 2,858,593.00 2,785,669.00 2,997,962.00 1,255,695.00 1,308,472.00 1,213,958.00 2,912,881.00 1,144,873.00 1,059,885.00 1,035,676.00 1,063,102.00 979,169.00 464,430.00
   Deposits 2,668,099.00 2,456,409.00 2,433,694.00 4,785,564.00 2,372,652.00 2,360,512.00 2,386,029.00 4,672,956.00 1,041,772.00 1,034,842.00 984,498.00 3,233,544.00 951,710.00 902,373.00 862,170.00 771,665.00 802,595.00 372,053.00
      Cash and Short-Term Investments 776,612.00 620,332.00 880,728.00 664,776.00 764,928.00 726,628.00 689,132.00 333,307.00 272,663.00 494,186.00 209,170.00 152,366.00 324,218.00 285,248.00 475,000.00 129,396.00 453,407.00 125,796.00
            Cash and Cash Equivalents 776,612.00 620,332.00 880,728.00 664,776.00 764,928.00 726,628.00 689,132.00 333,307.00 272,663.00 494,186.00 209,170.00 152,366.00 324,218.00 285,248.00 475,000.00 129,396.00 453,407.00 125,796.00
            Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Net Receivables 7,395,189.00 7,092,998.00 6,848,313.00 6,884,192.00 6,775,178.00 6,604,923.00 1,754,291.00 1,751,423.00 766,255.00 757,443.00 737,389.00 0 0 0 0 0 0 0
      Inventory 0 0 0 0 0 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 0 0 0 0 0
      Property, Plant, Equipment Net 15,822.00 15,861.00 17,920.00 32,068.00 17,623.00 18,364.00 22,233.00 36,907.00 16,141.00 16,188.00 16,555.00 16,962.00 18,007.00 12,428.00 9,858.00 9,969.00 9,998.00 9,999.00
      Goodwill 58,806.00 58,806.00 58,806.00 58,806.00 58,806.00 60,644.00 56,968.00 56,968.00 0 0 0 35,842.00 0 0 0 35,842.00 0 0
      Intangible Assets 0 0 0 27,258.00 0 0 0 27,258.00 0 0 0 1,914.00 0 0 0 1,914.00 0 0
      Long-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Non-Current Deferred Assets 15,003.00 16,474.00 16,729.00 18,866.00 21,662.00 22,024.00 22,717.00 24,153.00 6,880.00 6,571.00 6,749.00 5,619.00 6,378.00 5,777.00 5,092.00 4,038.00 4,382.00 3,033.00
      Other Non-Current Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Liabilities 2,816,914.00 2,588,556.00 2,567,423.00 2,598,557.00 2,602,588.00 2,587,184.00 2,517,426.00 2,403,529.00 1,114,344.00 1,166,020.00 1,072,377.00 1,025,101.00 1,007,931.00 955,114.00 929,336.00 823,140.00 869,208.00 420,953.00
      Payables and Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
            Account Payables 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
            Current Accrued Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Short-Term Debt 0 0 0 30,000.00 0 0 0 10,000.00 15,000.00 74,899.00 31,250.00 20,938.00 0 0 0 0 0 0
      Other Current Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Long-Term Debt 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Non-Current Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Equity 305,457.00 297,998.00 294,066.00 623,175.00 277,353.00 271,409.00 268,243.00 594,433.00 141,351.00 142,452.00 141,581.00 1,887,780.00 136,942.00 104,771.00 106,340.00 239,962.00 109,961.00 43,477.00
   Shareholders Equity 0 0 0 271,131.00 277,353.00 271,409.00 268,243.00 265,313.00 141,351.00 142,452.00 141,581.00 138,553.00 136,942.00 104,771.00 106,340.00 109,623.00 109,961.00 43,477.00
      Capital Stock 370.00 370.00 370.00 370.00 370.00 370.00 369.00 369.00 162.00 162.00 250.00 149.00 149.00 99.00 99.00 99.00 98.00 50.00
      Share Premium 265,637.00 265,293.00 264,871.00 264,449.00 264,059.00 263,795.00 263,577.00 263,310.00 127,856.00 127,818.00 127,659.00 117,709.00 117,698.00 83,070.00 82,930.00 82,910.00 82,771.00 50,567.00
      Retained Earnings 42,157.00 37,107.00 32,507.00 19,947.00 15,147.00 10,826.00 7,724.00 4,843.00 19,062.00 19,039.00 18,911.00 27,100.00 27,525.00 26,491.00 25,623.00 24,836.00 24,785.00 -7,207.00
      Treasury Shares 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income -2,707.00 -4,772.00 -3,682.00 -4,545.00 -2,223.00 -3,582.00 -3,427.00 -3,209.00 -5,729.00 -4,567.00 -5,239.00 -6,405.00 -8,430.00 -4,889.00 -2,312.00 1,778.00 2,307.00 67.00
   Minority Interest 0 0 0 0 0 0 0 483.00 0 0 0 0 0 0 0 0 0 0
Investments 674,603.00 479,199.00 462,663.00 459,750.00 475,332.00 462,260.00 453,424.00 420,598.00 346,877.00 364,652.00 374,202.00 292,926.00 289,351.00 288,817.00 205,016.00 213,453.00 252,668.00 1,046,835.00
Debt 208,533.00 208,532.00 209,794.00 301,013.00 207,771.00 206,678.00 205,901.00 275,364.00 126,232.00 126,661.00 126,889.00 167,637.00 127,258.00 123,709.00 65,912.00 87,464.00 66,968.00 68,680.00
Net Debt 0 0 0 0 0 0 0 0 0 0 0 15,271.00 0 0 0 0 0 0
Common Shares Outstanding 37,447.03 37,441.88 37,377.34 37,370.92 37,361.56 37,356.28 37,348.15 37,340.70 16,235.87 16,228.44 16,221.69 14,939.64 14,939.64 9,838.43 9,826.43 9,826.43 9,814.45 4,968.09
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-09-30 2021-06-30
Revenues 140,487.00 95,658.00 53,399.00 167,586.00 0 0 0 0 0 0 0 0 0 0 0 0 0
Cost Of Revenue 1,575.00 572.00 228.00 52.00 125.00 40.00 40.00 8,253.00 549.00 200.00 293.00 -855.00 1,190.00 675.00 280.00 548.00 617.00
Interest Income 125,454.00 81,537.00 41,114.00 -78,584.00 122,008.00 80,517.00 39,673.00 -18,056.00 43,656.00 28,299.00 13,265.00 -13,629.00 28,364.00 17,627.00 8,435.00 12,480.00 8,229.00
Interest Expense 44,326.00 28,688.00 14,311.00 -27,986.00 44,069.00 28,856.00 13,891.00 -5,596.00 17,700.00 11,273.00 5,036.00 1,669.00 4,058.00 2,148.00 905.00 1,532.00 1,372.00
Net Interest 77,166.00 50,780.00 25,831.00 -48,707.00 74,349.00 49,368.00 24,884.00 -9,681.00 24,395.00 16,043.00 7,954.00 -13,822.00 24,000.00 15,330.00 7,477.00 9,027.00 6,791.00
Non-Interest Income 18,995.00 16,190.00 13,257.00 -2,721.00 6,267.00 3,587.00 1,729.00 3,995.00 -88.00 -967.00 -1,853.00 -1,611.00 2,449.00 1,408.00 711.00 1,558.00 269.00
Non-Interest Expense 55,894.00 37,723.00 19,658.00 -39,097.00 56,601.00 38,150.00 19,250.00 -1,005.00 23,547.00 15,553.00 7,737.00 -9,995.00 19,387.00 12,342.00 6,098.00 10,703.00 6,229.00
Provisions for Credit Losses 1,575.00 572.00 228.00 52.00 125.00 40.00 40.00 9,751.00 -549.00 -200.00 293.00 -855.00 1,190.00 675.00 280.00 548.00 617.00
Gross Profit 138,912.00 95,086.00 53,171.00 167,329.00 0 0 0 0 0 0 0 0 0 0 0 0 0
   Selling, General and Administrative Expenses 6,384.00 4,307.00 2,709.00 -6,696.00 9,484.00 6,499.00 2,917.00 -2,353.00 4,100.00 2,758.00 1,366.00 -1,522.00 2,953.00 1,826.00 884.00 1,088.00 961.00
EBT 38,692.00 28,675.00 19,202.00 -13,511.00 23,890.00 14,765.00 7,323.00 -21,493.00 1,309.00 -277.00 -1,929.00 -6,637.00 5,872.00 3,721.00 1,810.00 -666.00 214.00
Income Tax 8,123.00 5,945.00 3,859.00 -4,065.00 5,265.00 3,235.00 1,597.00 3,767.00 276.00 70.00 376.00 -1,032.00 970.00 591.00 286.00 167.00 2,953.00
Net Income 30,569.00 22,730.00 15,343.00 -9,672.00 18,625.00 11,530.00 5,726.00 -11,241.00 1,033.00 -207.00 -1,553.00 -3,958.00 4,902.00 3,130.00 1,524.00 -499.00 3,167.00
EBIT 83,018.00 57,363.00 33,513.00 -41,497.00 67,959.00 43,621.00 21,214.00 -27,089.00 19,009.00 10,996.00 3,107.00 -4,968.00 9,930.00 5,869.00 2,715.00 866.00 1,586.00
Deprecation and Amortization 12,579.00 8,500.00 4,708.00 -10,445.00 13,883.00 9,466.00 4,973.00 -827.00 1,405.00 957.00 571.00 -393.00 1,707.00 1,199.00 754.00 474.00 114.00
EBITDA 95,597.00 65,863.00 38,221.00 -51,942.00 81,842.00 53,087.00 26,187.00 -27,916.00 20,414.00 11,953.00 3,678.00 -5,361.00 11,637.00 7,068.00 3,469.00 1,340.00 1,700.00
EPS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -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 0.00 -0.00 -0.00 0.00 0.00 0.00 0.00 -0.00 0.00
Average Shares Outstanding Basic 37,146.28 37,122.88 37,105.48 37,062.18 36,972.13 36,966.37 36,962.00 23,693.98 15,984.15 15,856.57 15,480.95 15,496.03 10,087.34 9,831.74 9,826.43 5,888.01 4,967.78
Average Shares Outstanding Diluted 37,257.83 37,231.84 37,221.94 37,272.82 37,061.51 37,042.90 37,045.23 23,693.98 15,984.15 15,856.57 15,480.95 15,067.66 10,136.46 9,983.74 10,053.68 5,888.01 5,257.22
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-09-30 2021-06-30
Operating Cash Flow 32,416.00 8,842.00 2,579.00 -4,124.00 19,583.00 5,621.00 -771.00 -9,693.00 3,337.00 340.00 -594.00 -3,580.00 4,751.00 803.00 -2,660.00 5,417.00 -604.00
   Operating Net Income 30,569.00 22,730.00 15,343.00 -2,807.00 55,875.00 34,590.00 17,178.00 -47,145.00 1,033.00 -207.00 -1,553.00 7,238.00 4,902.00 3,130.00 1,524.00 -499.00 3,167.00
   Deprecation and Amortization 12,579.00 8,500.00 4,708.00 -10,445.00 13,883.00 9,466.00 4,973.00 -827.00 1,405.00 957.00 571.00 -393.00 1,707.00 1,199.00 754.00 -474.00 114.00
   Deferred Income Tax 0 0 0 6,530.00 0 0 0 -3,446.00 0 0 0 1,184.00 0 0 0 0 -3,044.00
   Share Based Compensation 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 41.00
   Change in Working Capital 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -208.00 0 0
   Other Operating Activities -10,732.00 -22,388.00 -17,472.00 2,598.00 -50,175.00 -38,435.00 -22,922.00 41,725.00 899.00 -410.00 388.00 -11,817.00 -1,858.00 -3,526.00 -4,730.00 6,390.00 -882.00
Investing Cash Flow -286,577.00 -93,238.00 -1,954.00 85,082.00 -96,494.00 -85,826.00 -20,880.00 208,827.00 -60,759.00 -56,753.00 -34,483.00 18,003.00 -165,342.00 -91,575.00 -16,872.00 30,499.00 -10,063.00
   Capital Expenditure 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
   Net Purchase/Sale of PPE 2,203.00 1,834.00 357.00 59.00 3,699.00 1,642.00 452.00 424.00 664.00 65.00 0 -5,267.00 4,405.00 3,010.00 156.00 111.00 508.00
   Net Purchase/Sale of Investments Net 160,265.00 49,518.00 25,437.00 -75,266.00 87,905.00 58,116.00 35,609.00 52,959.00 39,265.00 33,768.00 27,276.00 -32,880.00 46,286.00 33,796.00 7,334.00 2,101.00 79,258.00
   Net Purchase/Sale of Business 0 0 0 0 0 0 0 -49,759.00 0 0 0 0 0 0 0 -39,885.00 0
   Net Loan & Lease Activity 13,255.00 8,285.00 11,903.00 21,592.00
   Other Investing Activities -462,964.00 -153,525.00 -31,414.00 163,859.00 -197,018.00 -151,132.00 -59,298.00 208,130.00 -106,333.00 -94,345.00 -63,567.00 64,968.00 -225,781.00 -135,652.00 -28,064.00 51,840.00 -90,555.00
Financing Cash Flow 282,214.00 73,379.00 53,457.00 -311,821.00 187,953.00 181,672.00 113,744.00 -304,749.00 95,390.00 149,576.00 56,801.00 -170,943.00 212,797.00 131,178.00 106,071.00 34,466.00 33,114.00
   Net Issuance/Repayment of Debt -10,000.00 -10,000.00 -10,000.00 -50,000.00 30,000.00 30,000.00 30,000.00 -123,975.00 -5,938.00 53,961.00 10,312.00 -8,522.00 186.00 1,825.00 47,635.00 1,120.00 -27,439.00
   Net Issuance/Repurchase of Equity 226.00 174.00 45.00 92.00 110.00 66.00 65.00 -9,376.00 9,980.00 9,980.00 9,980.00 -18.00 69,438.00 120.00 0 0 10.00
   Dividends Paid 8,359.00 5,570.00 2,783.00 -5,608.00 8,321.00 5,547.00 2,845.00 -2,434.00 3,652.00 2,435.00 1,217.00 -1,091.00 2,213.00 1,475.00 737.00 725.00 0
   Other Financing Activities 283,629.00 77,635.00 60,629.00 -256,305.00 149,522.00 146,059.00 80,834.00 -168,964.00 87,696.00 83,200.00 35,292.00 -161,312.00 140,960.00 127,758.00 57,699.00 32,621.00 60,543.00
Net Change in Cash 28,053.00 -11,017.00 54,082.00 -230,863.00 111,042.00 101,467.00 92,093.00 -105,615.00 37,968.00 93,163.00 21,724.00 -156,520.00 52,206.00 40,406.00 86,539.00 0 0
   Cash at Beginning of Period 166,100.00 166,100.00 166,100.00 396,963.00 80,190.00 80,190.00 80,190.00 185,805.00 30,011.00 30,011.00 30,011.00 186,531.00 22,590.00 22,590.00 22,590.00 0 0
   Cash at End of Period 194,153.00 155,083.00 220,182.00 166,100.00 191,232.00 181,657.00 172,283.00 80,190.00 67,979.00 123,174.00 51,735.00 30,011.00 74,796.00 62,996.00 109,129.00 0 0
Free Cash Flow 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0