Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 56.76 -14.01 -7.16 -6.00
Price to Sales 0.54 1.03 3.89 2.42
Book Value Per Common Share -1.05 -0.98 -0.62 0.17
Price to Book -5.50 -9.04 -18.53 59.22
Price to Operating Cash Flow 3.99 6.24 -8.48 -18.10
Price to Free Cash Flow 7.69 10.83 -4.23 -5.13
Enterprise Value to EBITDA 71347.20 183499.02
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings 47.76 160.67 67.56 -120.63 123.65
Price to Sales 2.73 2.15 1.78 2.04 2.86
Book Value Per Common Share -1.12 -1.22 -1.07 -1.05 -1.03
Price to Book -8.20 -5.93 -4.90 -5.50 -7.57
Price to Operating Cash Flow
Price to Free Cash Flow
Enterprise Value to EBITDA 341769.47 310136.85 230321.14 332629.62 356902.09

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY
Revenue YoY 22.86 179.65 -32.92
EBITDA YoY 61.22
Net Profit YoY
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY 326.67 -42.31
Revenue YoY -1.41 7.78 3.47 1.35
EBITDA YoY 15.17 -3.27 28.78 -20.25
Net Profit YoY 334.42 -47.15

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 2.65 2.99 3.97 3.46
Quick Ratio 1.09 1.27 1.56 1.67
Current Ratio 1.20 1.40 1.73 1.83
Debt to Equity -9.50 -10.92 -30.59 9.84
Long-Term Debt to Equity -8.23 -9.61 -26.78 8.59
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 3.79 2.84 2.65 2.73 2.60
Quick Ratio 1.00 1.05 1.08 1.09 1.06
Current Ratio 1.08 1.16 1.21 1.20 1.19
Debt to Equity -9.50 -8.28 -9.35 -9.50 -9.97
Long-Term Debt to Equity -7.84 -7.16 -8.15 -8.23 -8.69

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 0.55 -3.92 -10.00 -9.14
ROE -4.63 38.92 296.00 -99.01
Gross Margin 35.86 31.37 18.26 24.35
Operating Margin 10.36 2.40 -52.98 -29.97
EBITDA Margin 22.03 16.79 -14.32 -1.15
Net Profit Margin 0.94 -8.66 -68.93 -40.34
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA 0.92 0.22 0.41 -0.25 0.34
ROE -7.83 -1.60 -3.44 2.16 -3.06
Gross Margin 38.83 34.40 37.08 34.63 36.82
Operating Margin 13.45 10.48 12.32 7.12 11.83
EBITDA Margin 24.01 20.56 22.91 18.40 23.39
Net Profit Margin 5.70 1.29 2.64 -1.70 2.32

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Dividend Yield 0.00 0.00 0.00
Dividend Payout Ratio 0.79 -0.10 -0.02
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 7,985,343.00 8,335,072.00 9,301,784.00 8,883,690.00
   Current Assets 1,429,167.00 1,544,292.00 2,074,672.00 1,868,746.00
      Cash and Short-Term Investments 1,147,193.00 1,310,715.00 1,812,729.00 1,652,890.00
            Cash and Cash Equivalents 1,147,193.00 1,310,715.00 1,812,729.00 1,652,890.00
            Short-Term Investments 0 0 0 0
      Net Receivables 146,633.00 92,435.00 56,622.00 54,875.00
      Inventory 32,452.00 29,427.00 26,416.00 29,589.00
      Other Current Assets 102,889.00 111,715.00 178,905.00 131,392.00
   Non-Current Assets 6,556,176.00 6,790,780.00 7,227,112.00 7,014,944.00
      Property, Plant, Equipment Net 5,385,146.00 5,604,059.00 5,974,716.00 6,027,043.00
      Goodwill 82,090.00 81,582.00 81,606.00 81,721.00
      Intangible Assets 855,061.00 887,434.00 714,482.00 773,194.00
      Long-Term Investments 0 0 0 0
      Non-Current Deferred Assets 43,293.00 34,088.00 53,760.00 70,663.00
      Other Non-Current Assets 0 0 0 0
Liabilities 8,925,307.00 9,175,122.00 9,616,146.00 8,063,805.00
   Current Liabilities 1,190,864.00 1,103,620.00 1,198,626.00 1,021,883.00
      Payables and Expenses 709,111.00 649,213.00 496,893.00 548,721.00
            Account Payables 24,794.00 11,752.00 6,730.00 5,992.00
            Current Accrued Liabilities 408,228.00 376,096.00 317,184.00 279,020.00
      Short-Term Debt 74,004.00 54,992.00 370,220.00 65,450.00
      Other Current Liabilities 407,749.00 399,415.00 331,513.00 407,712.00
   Non-Current Liabilities 7,734,443.00 8,071,502.00 8,417,520.00 7,041,922.00
      Long-Term Debt 7,382,436.00 7,713,952.00 8,344,131.00 6,970,372.00
      Other Non-Current Liabilities 352,007.00 357,550.00 73,389.00 71,550.00
Equity -939,964.00 -840,050.00 -314,362.00 819,885.00
   Shareholders Equity -1,326,460.00 -1,287,280.00 -850,325.00 244,746.00
      Capital Stock 13,515.00 14,047.00 14,451.00 14,565.00
      Share Premium 2,985,730.00 3,109,212.00 3,218,895.00 3,238,600.00
      Retained Earnings -4,013,329.00 -4,056,872.00 -3,729,952.00 -2,799,555.00
      Treasury Shares 216,626.00 255,068.00 241,750.00 132,856.00
      Accumulated Other Comprehensive Income -95,750.00 -98,599.00 -111,969.00 -76,008.00
   Minority Interest 386,496.00 447,230.00 535,963.00 575,139.00
Debt 7,456,440.00 7,768,944.00 8,714,351.00 7,035,822.00
Net Debt 6,010,229.00 6,161,905.00 6,599,779.00 4,907,092.00
Common Shares Outstanding 1,259,138.30 1,311,270.77 1,370,052.14 1,423,370.31
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 4,638,213.00 3,775,247.00 1,349,977.00 2,012,356.00
Cost Of Revenue 2,975,123.00 2,591,118.00 1,103,439.00 1,522,348.00
Interest Income 15,766.00 23,305.00 26,458.00 6,618.00
Interest Expense 486,721.00 492,391.00 376,722.00 350,544.00
Non-Interest Expense 568,701.00 488,127.00 423,225.00 426,407.00
Gross Profit 1,663,090.00 1,184,129.00 246,538.00 490,008.00
Operating Expenses 1,157,611.00 1,075,176.00 974,058.00 1,063,302.00
   Selling, General and Administrative Expenses 568,701.00 488,127.00 423,225.00 426,407.00
   Research and Development Expenses 5,433.00 1,202.00 0 30,677.00
   Other Operating Expenses 41,939.00 42,451.00 28,894.00 26,371.00
Operating Income 505,479.00 108,953.00 -727,520.00 -573,294.00
Net Non-Operating Income 3,833.00 2,748.00 3,930.00 3,082.00
EBT -6,349.00 -401,908.00 -1,091,931.00 -953,579.00
Income Tax 21,610.00 13,422.00 5,236.00 2,885.00
Net Income Including Non-Controlling Interests -27,959.00 -415,330.00 -1,097,167.00 -956,464.00
Net Income Non-Controlling Interests 71,502.00 88,410.00 166,641.00 144,713.00
Net Income 43,543.00 -326,920.00 -930,526.00 -811,751.00
EBIT 480,372.00 90,483.00 -715,209.00 -603,035.00
Deprecation and Amortization 541,538.00 543,396.00 521,939.00 579,847.00
EBITDA 1,021,910.00 633,879.00 -193,270.00 -23,188.00
EPS 0.00 -0.00 -0.00 -0.00
Diluted EPS 0.00 -0.00 -0.00 -0.00
Average Shares Outstanding Basic 432,120.45 438,201.72 456,684.05 478,029.21
Average Shares Outstanding Diluted 433,143.64 438,201.72 456,684.05 478,029.21
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 626,656.00 622,690.00 -619,434.00 -268,774.00
   Operating Net Income -27,959.00 -415,330.00 -1,097,167.00 -956,464.00
   Deprecation and Amortization 541,538.00 543,396.00 521,939.00 579,847.00
   Deferred Income Tax 5,865.00 6,665.00 5,714.00 3,023.00
   Share Based Compensation 27,368.00 35,473.00 71,809.00 67,957.00
   Change in Working Capital 65,125.00 242,537.00 -132,851.00 -36,348.00
   Other Operating Activities 14,719.00 209,949.00 11,122.00 73,211.00
Investing Cash Flow -300,807.00 -48,513.00 -806,107.00 -674,551.00
   Capital Expenditure -34,181.00 -132,923.00 -479,883.00 -532,660.00
   Net Purchase/Sale of PPE -227,386.00 -123,571.00 -129,308.00 -134,312.00
   Net Purchase/Sale of Investments Net 0 0 0 0
   Net Purchase/Sale of Business 0 0 0 0
   Other Investing Activities 0 0 0 -7,579.00
Financing Cash Flow -478,349.00 -1,129,124.00 1,783,285.00 821,745.00
   Net Issuance/Repayment of Debt -328,020.00 -957,999.00 1,849,839.00 913,029.00
   Net Issuance/Repurchase of Equity -113,035.00 -170,507.00 -58,368.00 -60,989.00
   Dividends Paid -344.00 -314.00 -196.00 0
   Other Financing Activities -36,950.00 -304.00 -7,990.00 -30,295.00
Net Change in Cash -152,500.00 -554,947.00 357,744.00 -121,580.00
   Cash at Beginning of Period 1,435,836.00 1,988,457.00 1,653,315.00 1,755,770.00
   Cash at End of Period 1,273,072.00 1,435,836.00 1,988,457.00 1,653,315.00
Free Cash Flow 325,475.00 358,802.00 -1,241,526.00 -948,168.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Assets 8,102,830.00 7,812,504.00 7,903,733.00 7,985,343.00 7,994,828.00
   Current Assets 1,715,713.00 1,386,519.00 1,374,048.00 1,429,167.00 1,357,594.00
      Cash and Short-Term Investments 1,481,604.00 1,119,822.00 1,104,161.00 1,147,193.00 1,120,850.00
            Cash and Cash Equivalents 1,481,604.00 1,119,822.00 1,104,161.00 1,147,193.00 1,120,850.00
            Short-Term Investments 0 0 0 0 0
      Net Receivables 102,209.00 131,409.00 126,930.00 146,633.00 84,314.00
      Inventory 35,273.00 32,881.00 33,245.00 32,452.00 31,977.00
      Other Current Assets 96,627.00 102,407.00 109,712.00 102,889.00 120,453.00
   Non-Current Assets 6,387,117.00 6,425,985.00 6,529,685.00 6,556,176.00 6,637,234.00
      Property, Plant, Equipment Net 5,293,209.00 5,319,761.00 5,350,781.00 5,385,146.00 5,424,165.00
      Goodwill 25,854.00 25,632.00 81,937.00 82,090.00 81,979.00
      Intangible Assets 823,748.00 829,329.00 843,682.00 855,061.00 871,885.00
      Long-Term Investments 0 0 0 0 0
      Non-Current Deferred Assets 0 0 0 43,293.00 0
      Other Non-Current Assets 0 0 0 190,586.00 0
Liabilities 9,056,134.00 8,885,846.00 8,850,669.00 8,925,307.00 8,886,059.00
   Current Liabilities 1,583,558.00 1,195,935.00 1,134,895.00 1,190,864.00 1,142,201.00
      Payables and Expenses 1,072,616.00 1,088,177.00 1,058,803.00 709,111.00 1,054,291.00
            Account Payables 17,380.00 16,919.00 18,802.00 24,794.00 22,117.00
            Current Accrued Liabilities 1,024,238.00 1,034,582.00 1,007,912.00 408,228.00 999,055.00
      Short-Term Debt 510,942.00 107,758.00 76,092.00 74,004.00 87,910.00
      Other Current Liabilities 0.00 0.00 0.00 407,749.00 0.00
   Non-Current Liabilities 7,472,576.00 7,689,911.00 7,715,774.00 7,734,443.00 7,743,858.00
      Long-Term Debt 7,117,888.00 7,348,772.00 7,383,091.00 7,382,436.00 7,386,143.00
      Other Non-Current Liabilities 354,688.00 341,139.00 332,683.00 352,007.00 357,715.00
Equity -953,304.00 -1,073,342.00 -946,936.00 -939,964.00 -891,231.00
   Shareholders Equity -1,310,541.00 -1,428,085.00 -1,325,504.00 -1,326,460.00 -1,295,409.00
      Capital Stock 13,515.00 13,515.00 13,515.00 13,515.00 14,047.00
      Share Premium 2,981,659.00 2,975,802.00 2,991,901.00 2,985,730.00 3,099,944.00
      Retained Earnings -3,888,919.00 -3,963,605.00 -3,980,797.00 -4,013,329.00 -3,993,055.00
      Treasury Shares 357,015.00 358,997.00 262,429.00 216,626.00 338,177.00
      Accumulated Other Comprehensive Income -59,781.00 -94,800.00 -87,694.00 -95,750.00 -78,168.00
   Minority Interest 357,237.00 354,743.00 378,568.00 386,496.00 404,178.00
Debt 7,628,830.00 7,456,530.00 7,459,183.00 7,456,440.00 7,474,053.00
Net Debt 5,863,700.00 6,041,149.00 6,055,557.00 6,010,229.00 6,045,524.00
Common Shares Outstanding 1,171,986.06 1,171,221.59 1,233,596.56 1,259,138.30 1,259,127.65
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Revenues 1,309,507.00 1,328,211.00 1,232,308.00 1,191,018.00 1,175,133.00
Cost Of Revenue 801,082.00 871,248.00 775,361.00 778,622.00 742,448.00
Interest Income 1,057.00 1,687.00 2,876.00 3,166.00 3,769.00
Interest Expense 113,261.00 117,883.00 119,506.00 119,771.00 121,438.00
Non-Interest Expense 167,005.00 158,494.00 154,950.00 156,852.00 140,506.00
Gross Profit 508,425.00 456,963.00 456,947.00 412,396.00 432,685.00
Operating Expenses 316,521.00 303,325.00 298,036.00 305,523.00 288,337.00
   Selling, General and Administrative Expenses 167,005.00 158,494.00 154,950.00 156,852.00 140,506.00
   Research and Development Expenses 996.00 1,846.00 3,424.00 1,892.00 1,469.00
   Other Operating Expenses 10,213.00 9,062.00 9,239.00 12,407.00 10,508.00
Operating Income 191,904.00 153,638.00 158,911.00 106,873.00 144,348.00
Net Non-Operating Income 1,410.00 1,389.00 600.00 627.00 601.00
EBT 62,905.00 21,253.00 32,359.00 -34,949.00 17,552.00
Income Tax 845.00 11,898.00 4,612.00 4,963.00 4,862.00
Net Income Including Non-Controlling Interests 62,060.00 9,355.00 27,747.00 -39,912.00 12,690.00
Net Income Non-Controlling Interests 12,626.00 7,837.00 4,785.00 19,638.00 14,567.00
Net Income 74,686.00 17,192.00 32,532.00 -20,274.00 27,257.00
EBIT 176,166.00 139,136.00 151,865.00 84,822.00 138,990.00
Deprecation and Amortization 138,307.00 133,923.00 130,423.00 134,372.00 135,854.00
EBITDA 314,473.00 273,059.00 282,288.00 219,194.00 274,844.00
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 390,528.65 394,530.19 416,604.74 419,711.57 431,648.86
Average Shares Outstanding Diluted 394,710.70 395,453.00 417,647.38 419,711.57 431,919.39
Breakdown
Operating Cash Flow
   Operating Net Income
   Deprecation and Amortization
   Deferred Income Tax
   Share Based Compensation
   Change in Working Capital
   Other Operating Activities
Investing Cash Flow
   Capital Expenditure
   Net Purchase/Sale of PPE
   Net Purchase/Sale of Investments Net
   Net Purchase/Sale of Business
   Other Investing Activities
Financing Cash Flow
   Net Issuance/Repayment of Debt
   Net Issuance/Repurchase of Equity
   Dividends Paid
   Other Financing Activities
Net Change in Cash
   Cash at Beginning of Period
   Cash at End of Period
Free Cash Flow