Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 0.00 0.00 0.00 0.01
Price to Sales 0.00 0.00 0.00 0.00
Book Value Per Common Share 13084.52 18562.05 25356.87 33670.74
Price to Book 0.00 0.00 0.00 0.00
Price to Operating Cash Flow 0.00 0.00 0.00 0.00
Price to Free Cash Flow -0.01 0.00 0.00 0.00
Enterprise Value to EBITDA 7.27 20.16 20.99 7.29
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings -0.25 0.00 -0.01 -0.01
Price to Sales 0.00 0.00 0.00 0.00 0.00
Book Value Per Common Share 13465.81 12966.54 12548.72 13084.52 13957.21
Price to Book 0.00 0.00 0.00 0.00 0.00
Price to Operating Cash Flow 0.01 -0.01 0.01 0.00 0.01
Price to Free Cash Flow 0.06 0.00 0.07 0.00 -0.17
Enterprise Value to EBITDA 32.02 12.38 23.36 31.71 26.27

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY
Revenue YoY 24.77 -18.43 -12.47
EBITDA YoY 140.57 3.84 -76.88
Net Profit YoY
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY
Revenue YoY 24.52 -7.89 -22.57 14.83
EBITDA YoY -49.09 86.84 41.98 -30.59
Net Profit YoY

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 2156.67 4154.60 2757.76 4801.42
Quick Ratio 0.37 0.47 0.33 0.59
Current Ratio 0.64 0.68 0.68 0.94
Debt to Equity 3.07 3.08 2.15 1.58
Long-Term Debt to Equity 1.11 1.49 0.92 0.64
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 1561.84 1679.03 991.61 4065.34 1796.02
Quick Ratio 0.41 0.35 0.29 0.37 0.33
Current Ratio 0.70 0.62 0.64 0.64 0.65
Debt to Equity 2.63 2.68 3.08 3.07 2.97
Long-Term Debt to Equity 1.10 1.14 1.05 1.11 1.16

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA -7.80 -7.64 -8.61 3.11
ROE -31.74 -31.17 -27.14 8.04
Gross Margin 9.68 1.62 4.30 17.76
Operating Margin -4.82 -12.26 -11.54 7.21
EBITDA Margin 14.44 7.49 5.88 22.27
Net Profit Margin -9.63 -12.82 -11.75 3.97
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA -0.07 3.09 -0.82 -2.79 -1.07
ROE -0.26 11.40 -3.35 -11.37 -4.26
Gross Margin 16.39 9.09 12.25 11.50 12.36
Operating Margin 2.83 20.87 0.87 -4.37 0.39
EBITDA Margin 17.10 41.81 20.62 11.24 18.60
Net Profit Margin -0.30 15.50 -4.33 -11.72 -5.21

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Dividend Yield 1.20
Dividend Payout Ratio -7.57
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 32,859,566,000.00 35,759,298,000.00 35,686,019,000.00 38,154,515,000.00
   Current Assets 10,123,037,000.00 9,503,186,000.00 9,444,035,000.00 13,187,067,000.00
      Cash and Short-Term Investments 2,032,669,000.00 3,164,849,000.00 2,100,774,000.00 3,569,378,000.00
            Cash and Cash Equivalents 2,021,640,000.00 2,257,522,000.00 1,824,649,000.00 3,541,597,000.00
            Short-Term Investments 11,029,000.00 907,327,000.00 276,125,000.00 27,781,000.00
      Net Receivables 3,906,906,000.00 3,375,583,000.00 2,565,316,000.00 4,726,064,000.00
      Inventory 2,671,242,000.00 2,527,728,000.00 2,872,918,000.00 3,350,375,000.00
      Other Current Assets 1,512,220,000.00 435,026,000.00 1,905,027,000.00 1,541,250,000.00
   Non-Current Assets 22,736,529,000.00 26,256,112,000.00 26,241,984,000.00 24,967,448,000.00
      Property, Plant, Equipment Net 17,202,873,000.00 20,200,332,000.00 20,946,933,000.00 20,558,446,000.00
      Real Estate 27,911,000.00 32,995,000.00 28,269,000.00 0
      Goodwill 29,233,000.00 24,157,000.00 23,561,000.00 48,339,000.00
      Intangible Assets 1,529,174,000.00 1,749,798,000.00 1,729,396,000.00 1,596,559,000.00
      Long-Term Investments 161,477,000.00 191,516,000.00 224,604,000.00 176,730,000.00
      Non-Current Deferred Assets 3,504,177,000.00 3,562,861,000.00 2,645,077,000.00 2,307,692,000.00
      Other Non-Current Assets 281,684,000.00 494,453,000.00 644,144,000.00 279,682,000.00
Liabilities 24,786,759,000.00 26,988,754,000.00 24,366,792,000.00 23,392,014,000.00
   Current Liabilities 15,859,084,000.00 13,885,028,000.00 13,961,520,000.00 13,994,817,000.00
      Payables and Expenses 6,576,658,000.00 7,795,153,000.00 8,146,235,000.00 9,613,192,000.00
            Account Payables 4,156,149,000.00 4,175,064,000.00 4,061,684,000.00 4,814,055,000.00
            Current Accrued Liabilities 634,473,000.00 648,949,000.00 729,193,000.00 1,218,456,000.00
      Short-Term Debt 6,523,688,000.00 5,228,710,000.00 5,474,811,000.00 4,047,718,000.00
      Other Current Liabilities 2,758,738,000.00 861,165,000.00 340,474,000.00 333,907,000.00
   Non-Current Liabilities 8,927,675,000.00 13,103,726,000.00 10,405,272,000.00 9,397,197,000.00
      Long-Term Debt 8,084,401,000.00 11,373,783,000.00 9,589,387,000.00 8,700,414,000.00
      Other Non-Current Liabilities 843,274,000.00 1,729,943,000.00 815,885,000.00 696,783,000.00
Equity 8,072,807,000.00 8,770,544,000.00 11,319,227,000.00 14,762,501,000.00
   Shareholders Equity 6,542,261,000.00 7,232,182,000.00 9,879,589,000.00 13,118,855,000.00
      Capital Stock 2,500,000,000.00 1,789,079,000.00 1,789,079,000.00 1,789,079,000.00
      Share Premium 2,773,587,000.00 2,251,113,000.00 2,251,113,000.00 2,251,113,000.00
      Retained Earnings -18,512,000.00 2,676,014,000.00 5,359,769,000.00 8,541,521,000.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income 1,287,186,000.00 515,976,000.00 479,628,000.00 537,142,000.00
   Minority Interest 1,530,546,000.00 1,538,362,000.00 1,439,638,000.00 1,643,646,000.00
Debt 14,608,089,000.00 16,602,493,000.00 15,064,198,000.00 12,748,132,000.00
Net Debt 12,528,474,000.00 14,271,607,000.00 13,166,761,000.00 9,122,209,000.00
Common Shares Outstanding 500,000.00 389,621.86 389,621.86 389,621.86
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 26,615,347,000.00 21,330,819,000.00 26,151,781,000.00 29,878,043,000.00
Cost Of Revenue 24,039,928,000.00 20,985,643,000.00 25,027,703,000.00 24,572,939,000.00
Interest Income 87,692,000.00 134,664,000.00 85,624,000.00 88,888,000.00
Interest Expense 909,640,000.00 723,429,000.00 414,521,000.00 434,089,000.00
Non-Interest Expense 1,358,768,000.00 1,145,177,000.00 1,493,129,000.00 1,510,868,000.00
Gross Profit 2,575,419,000.00 345,176,000.00 1,124,078,000.00 5,305,104,000.00
Operating Expenses 3,136,015,000.00 2,855,340,000.00 3,209,125,000.00 3,074,496,000.00
   Selling, General and Administrative Expenses 1,358,768,000.00 1,145,177,000.00 1,493,129,000.00 1,510,868,000.00
   Research and Development Expenses 1,447,706,000.00 1,379,653,000.00 1,382,406,000.00 1,222,044,000.00
Operating Income -560,596,000.00 -2,510,164,000.00 -2,085,047,000.00 2,230,608,000.00
Net Non-Operating Income 1,085,000.00 -15,228,000.00 20,240,000.00 13,302,000.00
EBT -2,191,540,000.00 -3,339,441,000.00 -3,433,370,000.00 1,718,885,000.00
Income Tax 217,760,000.00 -762,712,000.00 -237,785,000.00 385,341,000.00
Net Income Including Non-Controlling Interests -2,409,300,000.00 -2,576,729,000.00 -3,195,585,000.00 1,333,544,000.00
Net Income Non-Controlling Interests -153,306,000.00 -157,013,000.00 124,020,000.00 -147,362,000.00
Net Income -2,562,606,000.00 -2,733,742,000.00 -3,071,565,000.00 1,186,182,000.00
EBIT -1,281,900,000.00 -2,616,012,000.00 -3,018,849,000.00 2,152,974,000.00
Deprecation and Amortization 5,125,637,000.00 4,213,742,000.00 4,557,457,000.00 4,500,701,000.00
EBITDA 3,843,737,000.00 1,597,730,000.00 1,538,608,000.00 6,653,675,000.00
EPS -2.72 -3.59 -4.03 1.60
Diluted EPS -2.72 -3.59 -4.03 1.51
Average Shares Outstanding Basic 942,504.71 761,769.35 761,769.35 743,400.44
Average Shares Outstanding Diluted 942,504.71 761,769.35 761,769.35 787,354.68
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 2,411,761,000.00 1,682,748,000.00 3,011,020,000.00 5,753,446,000.00
   Operating Net Income -2,409,300,000.00 -2,576,729,000.00 -3,195,585,000.00 1,333,544,000.00
   Deprecation and Amortization 5,125,637,000.00 4,213,742,000.00 4,557,457,000.00 4,500,701,000.00
   Deferred Income Tax 217,760,000.00 -762,712,000.00 -237,785,000.00 385,341,000.00
   Share Based Compensation 0 0 0 0
   Change in Working Capital -1,271,743,000.00 1,021,023,000.00 700,628,000.00 -1,015,987,000.00
   Other Operating Activities 749,407,000.00 -212,576,000.00 1,186,305,000.00 549,847,000.00
Investing Cash Flow -1,363,248,000.00 -2,589,336,000.00 -6,700,169,000.00 -4,263,080,000.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE -1,881,275,000.00 -2,997,095,000.00 -4,907,858,000.00 -3,075,719,000.00
   Net Purchase/Sale of Investments Net 1,194,299,000.00 1,016,277,000.00 -991,331,000.00 -637,985,000.00
   Net Purchase/Sale of Business 17,609,000.00 0 4,800,000.00 4,363,000.00
   Other Investing Activities -693,881,000.00 -608,518,000.00 -805,780,000.00 -553,739,000.00
Financing Cash Flow -1,334,305,000.00 1,350,863,000.00 1,946,024,000.00 -2,466,136,000.00
   Net Issuance/Repayment of Debt -2,233,238,000.00 1,384,961,000.00 2,238,810,000.00 -2,466,136,000.00
   Net Issuance/Repurchase of Equity 1,292,455,000.00 0 0 0
   Dividends Paid 0 0 -232,580,000.00 0
   Other Financing Activities -393,522,000.00 -34,098,000.00 -60,206,000.00 0
Net Change in Cash -285,792,000.00 444,275,000.00 -1,743,125,000.00 -975,770,000.00
   Cash at Beginning of Period 2,257,522,000.00 1,824,649,000.00 3,541,597,000.00 4,218,099,000.00
   Cash at End of Period 2,021,640,000.00 2,257,522,000.00 1,824,649,000.00 3,541,597,000.00
Free Cash Flow -504,793,000.00 -2,472,082,000.00 -2,898,842,000.00 1,976,211,000.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Assets 28,713,256,000.00 27,983,656,000.00 31,987,808,000.00 32,859,566,000.00 33,149,677,000.00
   Current Assets 8,441,986,000.00 7,268,151,000.00 10,225,245,000.00 10,123,037,000.00 9,856,177,000.00
      Cash and Short-Term Investments 1,561,842,000.00 1,679,029,000.00 991,611,000.00 2,032,669,000.00 1,796,022,000.00
            Cash and Cash Equivalents 1,548,799,000.00 1,665,511,000.00 981,376,000.00 2,021,640,000.00 1,786,649,000.00
            Short-Term Investments 13,043,000.00 13,518,000.00 10,235,000.00 11,029,000.00 9,373,000.00
      Net Receivables 3,448,542,000.00 2,424,157,000.00 3,633,007,000.00 3,906,906,000.00 3,212,587,000.00
      Inventory 3,086,413,000.00 2,868,572,000.00 2,956,092,000.00 2,671,242,000.00 3,338,155,000.00
      Other Current Assets 345,189,000.00 296,393,000.00 2,644,535,000.00 1,512,220,000.00 1,509,413,000.00
   Non-Current Assets 20,271,270,000.00 20,715,505,000.00 21,762,563,000.00 22,736,529,000.00 23,293,500,000.00
      Property, Plant, Equipment Net 14,932,853,000.00 15,368,150,000.00 16,374,848,000.00 17,202,873,000.00 17,468,293,000.00
      Real Estate 18,252,000.00 25,974,000.00 26,649,000.00 27,911,000.00 29,183,000.00
      Goodwill 0 0 0 29,233,000.00 0
      Intangible Assets 0 0 0 1,529,174,000.00 0
      Long-Term Investments 156,485,000.00 153,546,000.00 162,291,000.00 161,477,000.00 175,960,000.00
      Non-Current Deferred Assets 3,499,673,000.00 3,484,315,000.00 3,474,389,000.00 3,504,177,000.00 3,678,840,000.00
      Other Non-Current Assets 0 0 0 281,684,000.00 0
Liabilities 20,798,027,000.00 20,385,610,000.00 24,153,761,000.00 24,786,759,000.00 24,806,249,000.00
   Current Liabilities 12,098,946,000.00 11,755,907,000.00 15,898,949,000.00 15,859,084,000.00 15,158,552,000.00
      Payables and Expenses 6,444,617,000.00 5,990,761,000.00 6,330,318,000.00 6,576,658,000.00 6,101,314,000.00
            Account Payables 4,369,909,000.00 3,739,246,000.00 4,253,800,000.00 4,156,149,000.00 4,093,230,000.00
            Current Accrued Liabilities 682,486,000.00 551,258,000.00 535,534,000.00 634,473,000.00 633,843,000.00
      Short-Term Debt 5,435,467,000.00 5,516,105,000.00 7,014,658,000.00 6,523,688,000.00 6,297,320,000.00
      Other Current Liabilities 218,862,000.00 249,041,000.00 2,553,973,000.00 2,758,738,000.00 2,759,918,000.00
   Non-Current Liabilities 8,699,081,000.00 8,629,703,000.00 8,254,812,000.00 8,927,675,000.00 9,647,697,000.00
      Long-Term Debt 8,112,746,000.00 7,984,493,000.00 7,640,708,000.00 8,084,401,000.00 8,583,333,000.00
      Other Non-Current Liabilities 586,335,000.00 645,210,000.00 614,104,000.00 843,274,000.00 1,064,364,000.00
Equity 7,915,229,000.00 7,598,046,000.00 7,834,047,000.00 8,072,807,000.00 8,343,428,000.00
   Shareholders Equity 6,732,904,000.00 6,483,268,000.00 6,274,358,000.00 6,542,261,000.00 6,978,604,000.00
      Capital Stock 2,500,000,000.00 2,500,000,000.00 2,500,000,000.00 2,500,000,000.00 2,500,000,000.00
      Share Premium 2,759,184,000.00 2,759,184,000.00 2,773,587,000.00 2,773,587,000.00 2,759,494,000.00
      Retained Earnings 601,845,000.00 585,250,000.00 -281,111,000.00 -18,512,000.00 978,528,000.00
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income 871,875,000.00 638,834,000.00 1,281,882,000.00 1,287,186,000.00 740,582,000.00
   Minority Interest 1,182,325,000.00 1,114,778,000.00 1,559,689,000.00 1,530,546,000.00 1,364,824,000.00
Debt 13,548,213,000.00 13,500,598,000.00 14,655,366,000.00 14,608,089,000.00 14,880,653,000.00
Net Debt 11,935,165,000.00 11,755,122,000.00 13,595,690,000.00 12,528,474,000.00 13,030,660,000.00
Common Shares Outstanding 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30
Revenues 6,956,978,000.00 5,586,956,000.00 6,065,298,000.00 7,832,872,000.00 6,821,301,000.00 0
Cost Of Revenue 5,816,730,000.00 5,079,248,000.00 5,322,494,000.00 6,932,145,000.00 5,978,100,000.00 0
Interest Income 10,431,000.00 10,322,000.00 22,038,000.00 18,671,000.00 24,542,000.00 0
Interest Expense 166,661,000.00 174,336,000.00 201,022,000.00 219,683,000.00 233,520,000.00 0
Non-Interest Expense 302,054,000.00 227,055,000.00 292,563,000.00 364,555,000.00 454,787,000.00 0
Gross Profit 1,140,248,000.00 507,708,000.00 742,804,000.00 900,727,000.00 843,201,000.00 0
Operating Expenses 709,211,000.00 623,741,000.00 709,340,000.00 817,619,000.00 923,800,000.00 0
   Selling, General and Administrative Expenses 302,054,000.00 227,055,000.00 292,563,000.00 364,555,000.00 454,787,000.00 0
   Research and Development Expenses 344,319,000.00 338,008,000.00 351,061,000.00 376,542,000.00 387,539,000.00 0
Operating Income 431,037,000.00 -116,033,000.00 33,464,000.00 83,108,000.00 -80,599,000.00 0
Net Non-Operating Income 760,000.00 55,188,000.00 -4,109,000.00 7,897,000.00 -10,161,000.00 0
EBT 29,881,000.00 991,898,000.00 -148,495,000.00 -562,351,000.00 -207,212,000.00 0
Income Tax 28,634,000.00 101,127,000.00 88,537,000.00 276,767,000.00 130,896,000.00 0
Net Income Including Non-Controlling Interests 1,247,000.00 890,771,000.00 -237,032,000.00 -839,118,000.00 -338,108,000.00 0
Net Income Non-Controlling Interests -21,905,000.00 -24,959,000.00 -25,693,000.00 -78,645,000.00 -17,051,000.00 0
Net Income -20,658,000.00 865,812,000.00 -262,725,000.00 -917,763,000.00 -355,159,000.00 0
EBIT 196,542,000.00 1,166,234,000.00 52,527,000.00 -342,668,000.00 26,308,000.00 0
Deprecation and Amortization 992,821,000.00 1,169,948,000.00 1,197,852,000.00 1,223,369,000.00 1,242,583,000.00 0
EBITDA 1,189,363,000.00 2,336,182,000.00 1,250,379,000.00 880,701,000.00 1,268,891,000.00 0
EPS -0.02 0.87 -0.26 0 -0.35 -0.51
Diluted EPS -0.02 0.87 -0.26 0 -0.35 -0.51
Average Shares Outstanding Basic 1,000,000.00 1,000,000.00 1,000,000.00 0 1,000,000.00 1,000,000.00
Average Shares Outstanding Diluted 1,000,000.00 1,000,000.00 1,000,000.00 0 1,000,000.00 1,000,000.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Operating Cash Flow 620,504,000.00 -362,124,000.00 604,552,000.00 1,359,675,000.00 720,985,000.00
   Operating Net Income 1,247,000.00 890,771,000.00 -237,032,000.00 -839,118,000.00 -338,108,000.00
   Deprecation and Amortization 992,821,000.00 1,169,948,000.00 1,197,852,000.00 1,223,369,000.00 1,242,583,000.00
   Deferred Income Tax 28,634,000.00 101,127,000.00 88,537,000.00 276,767,000.00 130,896,000.00
   Share Based Compensation 0 0 0 0 0
   Change in Working Capital -826,451,000.00 -1,295,229,000.00 -408,775,000.00 2,279,000.00 -39,920,000.00
   Other Operating Activities 424,253,000.00 -1,228,741,000.00 -36,030,000.00 696,378,000.00 -274,466,000.00
Investing Cash Flow -483,777,000.00 299,639,000.00 -419,626,000.00 -333,476,000.00 -242,429,000.00
   Capital Expenditure 0 0 0 0 0
   Net Purchase/Sale of PPE -370,060,000.00 -285,552,000.00 -303,039,000.00 -281,875,000.00 -517,391,000.00
   Net Purchase/Sale of Investments Net 9,365,000.00 34,152,000.00 64,516,000.00 53,384,000.00 389,630,000.00
   Net Purchase/Sale of Business 0 0 0 -14,394,000.00 0
   Other Investing Activities 0 0 0 -90,591,000.00 0
Financing Cash Flow -304,152,000.00 -526,491,000.00 1,679,000.00 -1,081,416,000.00 -324,248,000.00
   Net Issuance/Repayment of Debt -263,652,000.00 -526,491,000.00 8,069,000.00 -1,081,415,000.00 -78,886,000.00
   Net Issuance/Repurchase of Equity 0 0 0 0 0
   Dividends Paid 0 0 0 0 0
   Other Financing Activities -40,500,000.00 0.00 -6,390,000.00 -1,000.00 -245,362,000.00
Net Change in Cash -167,425,000.00 -588,976,000.00 186,605,000.00 -55,217,000.00 154,308,000.00
   Cash at Beginning of Period 1,665,511,000.00 981,376,000.00 2,021,640,000.00 1,786,649,000.00 1,974,149,000.00
   Cash at End of Period 1,548,799,000.00 1,665,511,000.00 981,376,000.00 2,021,640,000.00 1,786,649,000.00
Free Cash Flow 91,999,000.00 -918,976,000.00 45,882,000.00 914,754,000.00 -23,982,000.00