Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings 12.53 11.72 8.79 11.42 10.15
Price to Sales 117.94 107.04 56.52 48.76 43.23
Book Value Per Common Share 16.59 15.14 13.88 11.40 9.54
Price to Book 1.93 1.59 1.56 2.42 1.51
Price to Operating Cash Flow 12.72 7.37 4.08 10.76 2.59
Price to Free Cash Flow 12.98 7.85 4.15 10.82 2.60
Enterprise Value to EBITDA 43860.26 36469.71 44368.32 77890.53 58594.75
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 40.72 43.30 43.08 46.39 43.03 27.13 30.89 30.16
Price to Sales 18.62 19.18 439.01 21.02 390.00 491.09 276.89 116.25
Book Value Per Common Share 17.46 17.08 16.85 16.59 16.07 15.73 15.14 14.04 13.88 12.19 11.40 9.95 9.54
Price to Book 1.59 1.67 1.64 1.93 1.90 1.59 1.59 1.22 1.56 1.93 2.42 1.55 1.51
Price to Operating Cash Flow 42.91 50.33 58.80 -67.50 17.30 16.83 6.33 15.63
Price to Free Cash Flow 43.60 50.74 59.15 -65.91 17.42 17.63 6.33 15.69
Enterprise Value to EBITDA 156068.68 135416.49 102288.63 213247.57 204770.32

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Earning YoY 24.39 -16.67 2.07 69.72
Revenue YoY 21.05 -41.83 -32.64 68.95
EBITDA YoY 11.47 35.29 36.33 42.45
Net Profit YoY 24.98 -17.55 1.46 69.54
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
Earning YoY 3.03 3.13 -3.03 13.79 -7.94 -17.11 49.02
Revenue YoY 0.16 2275.38 -95.68 2189.33 84.44 -59.52 -36.46
EBITDA YoY 10.59 49.83 45.40
Net Profit YoY 2.64 3.25 -2.42 14.15 -6.99 -19.04 49.67

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Cash Per Common Share 9.88 5.75 7.06 17.26 5.88
Quick Ratio
Current Ratio
Debt to Equity 7.53 8.18 8.81 9.70 6.75
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 11.22 9.84 10.27 5.75 8.91 7.13 16.68 17.33 6.79 5.87
Quick Ratio
Current Ratio
Debt to Equity 7.14 7.29 7.55 7.53 7.77 8.20 8.18 8.69 8.81 9.12 9.70 7.44 6.75
Long-Term Debt to Equity

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA 1.79 1.47 1.83 1.99 1.92
ROE 15.31 13.53 17.92 21.26 14.86
Gross Margin 92.47 99.73 71.55 52.01 59.43
Operating Margin 2658.89 2887.04 1221.86 603.94 705.13
EBITDA Margin 2702.12 2934.54 1261.71 623.40 739.40
Net Profit Margin 941.94 912.37 643.72 427.38 425.91
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 0.48 0.47 0.45 0.47 0.40 0.46 0.62 0.60
ROE 3.87 3.86 3.81 4.10 3.69 4.46 6.26 5.08
Gross Margin 91.54 91.32 95.18 52.94
Operating Margin 2759.46 2835.30 4725.63 1265.68 545.94
EBITDA Margin 2811.59 2881.95 4806.29 1298.61 567.48
Net Profit Margin 45.48 44.38 1021.12 45.26 907.63 1799.77 899.91 382.02

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 0.00 0.00 0.00
Dividend Payout Ratio 39.80 34.72 30.79

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Assets 3,594,045.00 3,502,823.00 3,427,239.00 3,106,158.00 1,897,489.00
   Deposits 4,937,320.00 4,949,827.00 4,721,685.00 3,933,596.00 2,496,869.00
      Cash and Short-Term Investments 249,875.00 144,805.00 179,485.00 441,341.00 150,688.00
            Cash and Cash Equivalents 249,875.00 144,805.00 179,485.00 441,341.00 150,688.00
            Short-Term Investments 0 0 0 0 0
      Net Receivables 3,155,049.00 3,161,385.00 13,171.00 11,052.00 10,671.00
      Inventory 0 0 0 0 0
      Other Current Assets 0 0 0 0 0
      Property, Plant, Equipment Net 26,126.00 26,604.00 22,720.00 22,406.00 24,202.00
      Goodwill 0 0 0 0 0
      Intangible Assets 0 0 0 0 0
      Long-Term Investments 0 0 0 0 0
      Non-Current Deferred Assets 81.00 69.00 44.00 111.00 159.00
      Other Non-Current Assets 0 0 0 0 0
Liabilities 3,172,692.00 3,121,306.00 3,077,818.00 2,815,935.00 1,652,658.00
      Payables and Expenses 0 0 0 0 0
            Account Payables 0 0 0 0 0
            Current Accrued Liabilities 0 0 0 0 0
      Short-Term Debt 0 0 0 0 0
      Other Current Liabilities 0 0 0 0 0
      Long-Term Debt 0 0 0 0 0
      Other Non-Current Liabilities 0 0 0 0 0
Equity 421,353.00 381,517.00 349,421.00 290,223.00 244,831.00
   Shareholders Equity 421,353.00 381,517.00 349,421.00 290,223.00 244,831.00
      Capital Stock 254.00 252.00 252.00 255.00 257.00
      Share Premium 49,216.00 45,699.00 45,298.00 51,559.00 55,674.00
      Retained Earnings 358,704.00 315,356.00 285,832.00 238,577.00 188,705.00
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income 13,179.00 20,210.00 18,039.00 -168.00 195.00
   Minority Interest 0 0 0 0 0
Investments 32,090.00 42,116.00 58,326.00 37,119.00 18,117.00
Debt 7,940.00 8,651.00 8,885.00 9,861.00 10,910.00
Common Shares Outstanding 25,402.78 25,205.51 25,169.71 25,465.24 25,674.57
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Revenues 6,848.00 5,657.00 9,725.00 14,437.00 8,545.00
Cost Of Revenue 516.00 15.00 2,767.00 6,929.00 3,467.00
Interest Income 212,951.00 192,847.00 147,263.00 108,787.00 77,732.00
Interest Expense 94,767.00 91,348.00 27,609.00 4,572.00 11,489.00
Net Interest 140,228.00 106,864.00 119,324.00 104,149.00 66,120.00
Non-Interest Income 23,063.00 18,204.00 19,204.00 33,803.00 27,211.00
Non-Interest Expense -53,659.00 -48,021.00 -50,651.00 -48,712.00 -41,479.00
Provisions for Credit Losses 516.00 -15.00 -2,767.00 6,929.00 3,467.00
Gross Profit 6,332.00 5,642.00 6,958.00 7,508.00 5,078.00
   Selling, General and Administrative Expenses 1,927.00 1,843.00 1,701.00 1,641.00 1,644.00
EBT 87,314.00 71,972.00 91,217.00 82,619.00 48,764.00
Income Tax 22,810.00 20,359.00 28,522.00 20,918.00 12,316.00
Net Income 64,504.00 51,613.00 62,602.00 61,701.00 36,394.00
EBIT 182,081.00 163,320.00 118,826.00 87,191.00 60,253.00
Deprecation and Amortization 2,960.00 2,687.00 3,875.00 2,809.00 2,929.00
EBITDA 185,041.00 166,007.00 122,701.00 90,000.00 63,182.00
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 25,283.35 25,205.49 25,409.65 25,572.01 25,613.88
Average Shares Outstanding Diluted 25,582.12 25,518.52 25,688.70 25,788.78 25,798.55
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow 63,501.00 82,099.00 134,694.00 65,433.00 142,558.00
   Operating Net Income 64,504.00 51,613.00 62,602.00 61,701.00 36,394.00
   Deprecation and Amortization 2,960.00 2,687.00 3,875.00 2,809.00 2,929.00
   Deferred Income Tax 350.00 1,010.00 -2,956.00 -3,074.00 -1,950.00
   Share Based Compensation 0 0 0 0 0
   Change in Working Capital -3,528.00 24,018.00 -29,237.00 -8,103.00 11,026.00
   Other Operating Activities -785.00 2,771.00 100,410.00 12,100.00 94,159.00
Investing Cash Flow 5,868.00 -110,265.00 -651,816.00 -930,551.00 -477,864.00
   Capital Expenditure -1,286.00 -4,931.00 -2,354.00 -384.00 -537.00
   Net Purchase/Sale of PPE -1,286.00 -4,931.00 -2,354.00 -384.00 -537.00
   Net Purchase/Sale of Investments Net 640.00 1,272.00 2,886.00 -8,649.00 3,746.00
   Net Purchase/Sale of Business 0 0 0 0 0
   Other Investing Activities 7,800.00 -101,675.00 -649,994.00 -921,134.00 -480,536.00
Financing Cash Flow 35,701.00 -6,514.00 255,266.00 1,155,771.00 209,581.00
   Net Issuance/Repayment of Debt 839.00 120.00 4,214.00 314.00 643.00
   Net Issuance/Repurchase of Equity 910.00 2,020.00 8,195.00 5,544.00 0
   Dividends Paid 21,051.00 18,200.00 15,290.00 11,792.00 10,285.00
   Other Financing Activities 12,901.00 -26,854.00 227,567.00 1,138,121.00 198,653.00
Net Change in Cash 105,070.00 -34,680.00 -261,856.00 290,653.00 -125,725.00
   Cash at Beginning of Period 144,805.00 179,485.00 441,341.00 150,688.00 276,413.00
   Cash at End of Period 249,875.00 144,805.00 179,485.00 441,341.00 150,688.00
Free Cash Flow 62,215.00 77,168.00 132,340.00 65,049.00 142,021.00
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 3,629,463.00 3,615,688.00 3,659,725.00 3,594,045.00 3,569,206.00 3,647,219.00 3,502,823.00 3,419,013.00 3,427,239.00 3,142,317.00 3,106,158.00 2,154,360.00 1,897,489.00
   Deposits 0 0 4,934,085.00 4,937,320.00 0 5,080,956.00 4,949,827.00 4,710,904.00 4,721,685.00 4,148,632.00 3,933,596.00 2,945,676.00 2,496,869.00
      Cash and Short-Term Investments 0 0 285,055.00 249,875.00 0 258,836.00 144,805.00 224,064.00 179,485.00 424,731.00 441,341.00 174,219.00 150,688.00
            Cash and Cash Equivalents 213,941.00 273,596.00 285,055.00 249,875.00 278,752.00 258,836.00 144,805.00 224,064.00 179,485.00 424,731.00 441,341.00 174,219.00 150,688.00
            Short-Term Investments 2,465.00 2,530.00 0 0 18,206.00 0 0 0 0 0 0 0 0
      Net Receivables 16,912.00 16,528.00 3,164,973.00 3,155,049.00 15,667.00 3,186,185.00 3,161,385.00 13,642.00 13,171.00 48,572.00 11,052.00 10,515.00 10,671.00
      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 25,548.00 26,069.00 25,951.00 26,126.00 25,329.00 26,111.00 26,604.00 23,195.00 22,720.00 21,739.00 22,406.00 24,146.00 24,202.00
      Goodwill 0 0 0 0 0 0 0 0 0 0 0 0 0
      Intangible Assets 1,662.00 1,676.00 0 0 1,296.00 0 0 0 0 0 0 0 0
      Long-Term Investments 21,070.00 21,011.00 0 0 28,774.00 0 0 0 0 0 0 0 0
      Non-Current Deferred Assets 0 0 0 81.00 0 0 69.00 0 44.00 0 111.00 0 159.00
      Other Non-Current Assets 0 0 0 0 0 0 0 0 0 0 0 0 0
Liabilities 3,183,575.00 3,179,588.00 3,231,756.00 3,172,692.00 3,162,021.00 3,250,615.00 3,121,306.00 3,066,052.00 3,077,818.00 2,831,907.00 2,815,935.00 1,898,985.00 1,652,658.00
      Payables and Expenses 3,567.00 3,438.00 0 0 3,593.00 0 0 0 0 0 0 0 0
            Account Payables 3,567.00 3,438.00 0 0 3,593.00 0 0 0 0 0 0 0 0
            Current Accrued Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0
      Short-Term Debt 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Current Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0
      Long-Term Debt 432,704.00 433,222.00 0 0 382,295.00 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
Equity 445,888.00 436,100.00 427,969.00 421,353.00 407,185.00 396,604.00 381,517.00 352,961.00 349,421.00 310,410.00 290,223.00 255,375.00 244,831.00
   Shareholders Equity 445,888.00 436,100.00 427,969.00 421,353.00 407,185.00 396,604.00 381,517.00 352,961.00 349,421.00 310,410.00 290,223.00 255,375.00 244,831.00
      Capital Stock 255.00 255.00 254.00 254.00 253.00 252.00 252.00 251.00 252.00 255.00 255.00 257.00 257.00
      Share Premium 51,151.00 50,212.00 49,645.00 49,216.00 47,481.00 46,105.00 45,699.00 45,044.00 45,298.00 51,753.00 51,559.00 55,977.00 55,674.00
      Retained Earnings 390,971.00 380,046.00 369,110.00 358,704.00 348,343.00 324,900.00 315,356.00 293,139.00 285,832.00 254,165.00 238,577.00 199,102.00 188,705.00
      Treasury Shares 0 0 0 0 0 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income 3,511.00 5,587.00 8,960.00 13,179.00 11,108.00 25,347.00 20,210.00 14,527.00 18,039.00 4,237.00 -168.00 39.00 195.00
   Minority Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 0 0 35,606.00 32,090.00 0 48,970.00 42,116.00 34,436.00 58,326.00 34,910.00 37,119.00 18,739.00 18,117.00
Debt 432,704.00 433,222.00 7,962.00 7,940.00 382,295.00 8,189.00 8,651.00 8,438.00 8,885.00 9,445.00 9,861.00 11,048.00 10,910.00
Net Debt 211,059.00 151,404.00 0 0 96,248.00 0 0 0 0 0 0 0 0
Common Shares Outstanding 25,537.75 25,537.75 25,402.78 25,402.78 25,331.92 25,205.51 25,205.51 25,143.67 25,169.71 25,465.24 25,465.24 25,674.57 25,674.57
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 37,970.00 37,911.00 1,596.00 36,904.00 1,612.00 874.00 2,159.00 3,398.00
Cost Of Revenue 0 0 135.00 0 140.00 0 104.00 1,599.00
Interest Income 54,003.00 54,049.00 52,519.00 53,833.00 52,358.00 45,965.00 31,953.00 22,672.00
Interest Expense 22,211.00 21,871.00 21,965.00 23,544.00 25,273.00 19,732.00 1,300.00 1,138.00
Net Interest 0 0 34,818.00 0 31,150.00 26,399.00 30,622.00 21,534.00
Non-Interest Income 0 0 5,456.00 0 5,568.00 6,016.00 7,656.00 8,186.00
Non-Interest Expense 14,674.00 14,113.00 -13,799.00 13,660.00 -12,361.00 -10,679.00 -12,179.00 -10,708.00
Provisions for Credit Losses 0 0 135.00 0 -140.00 0 104.00 1,599.00
Gross Profit 0 0 1,461.00 0 1,472.00 0 2,055.00 1,799.00
   Selling, General and Administrative Expenses 9,114.00 8,703.00 512.00 8,657.00 466.00 421.00 427.00 453.00
EBT 23,839.00 23,669.00 22,076.00 22,662.00 20,432.00 21,570.00 26,026.00 17,413.00
Income Tax 6,569.00 6,843.00 5,779.00 5,961.00 5,801.00 5,840.00 6,597.00 4,432.00
Net Income Including Non-Controlling Interests 17,270.00 16,826.00 0 16,701.00 0 0 0 0
Net Income 17,270.00 16,826.00 16,297.00 16,701.00 14,631.00 15,730.00 19,429.00 12,981.00
EBIT 0 0 44,041.00 0 45,705.00 41,302.00 27,326.00 18,551.00
Deprecation and Amortization 970.00 850.00 832.00 726.00 752.00 705.00 711.00 732.00
EBITDA 0 0 44,873.00 0 46,457.00 42,007.00 28,037.00 19,283.00
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 25,537.75 25,445.02 25,402.78 25,331.92 25,205.51 25,144.68 25,465.24 25,674.57
Average Shares Outstanding Diluted 25,811.42 25,715.21 25,707.99 25,674.86 25,548.09 25,405.85 25,719.03 25,881.83
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 16,479.00 14,451.00 11,911.00 -11,490.00 36,359.00 25,533.00 94,416.00 25,263.00
   Operating Net Income 17,270.00 16,826.00 16,297.00 16,702.00 14,631.00 15,730.00 19,429.00 12,981.00
   Deprecation and Amortization 970.00 850.00 832.00 726.00 752.00 705.00 711.00 732.00
   Deferred Income Tax 0 0 0 0 0 0 0 0
   Share Based Compensation 939.00 599.00 0 837.00 0 0 0 0
   Change in Working Capital -1,933.00 -5,442.00 -5,969.00 -25,161.00 21,430.00 9,848.00 16,516.00 9,498.00
   Other Operating Activities -767.00 1,618.00 751.00 -4,594.00 -454.00 -750.00 57,760.00 2,052.00
Investing Cash Flow -72,049.00 39,915.00 -20,004.00 2,728.00 -25,209.00 46,875.00 -106,272.00 -235,192.00
   Capital Expenditure 0 0 -70.00 0 -243.00 -1,162.00 -26.00 -99.00
   Net Purchase/Sale of PPE -261.00 -118.00 -70.00 -280.00 -243.00 -1,162.00 -26.00 -99.00
   Net Purchase/Sale of Investments Net 110.00 115.00 -6,009.00 137.00 134.00 421.00 345.00 185.00
   Net Purchase/Sale of Business 0 0 0 0 0 0 0 0
   Other Investing Activities -71,898.00 39,918.00 -13,855.00 2,871.00 -24,857.00 48,778.00 -106,565.00 -235,179.00
Financing Cash Flow -3,283.00 -53,410.00 43,273.00 -27,883.00 102,881.00 -27,829.00 -4,754.00 233,460.00
   Net Issuance/Repayment of Debt 0 0 0 0 0 0 0 0
   Net Issuance/Repurchase of Equity 0 0 0 0 0 553.00 0 0
   Dividends Paid -6,874.00 -5,842.00 5,843.00 -5,143.00 5,041.00 4,526.00 3,821.00 2,567.00
   Other Financing Activities 3,591.00 0 37,430.00 -22,740.00 97,840.00 -32,908.00 -8,575.00 230,893.00
Net Change in Cash -58,853.00 956.00 35,180.00 -36,645.00 114,031.00 44,579.00 -16,610.00 23,531.00
   Cash at Beginning of Period 286,011.00 285,055.00 249,875.00 327,859.00 144,805.00 179,485.00 441,341.00 150,688.00
   Cash at End of Period 227,158.00 286,011.00 285,055.00 291,214.00 258,836.00 224,064.00 424,731.00 174,219.00
Free Cash Flow 16,218.00 14,333.00 11,841.00 -11,770.00 36,116.00 24,371.00 94,390.00 25,164.00