Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 6.48 7.30 12.13 7.49
Price to Sales 1.81 3.74 4.26
Book Value Per Common Share 11.27 10.09 15.25 16.72
Price to Book 1.13 1.37 1.07 1.65
Price to Operating Cash Flow -2.08 -1.98 -6.30 4.47
Price to Free Cash Flow -2.08 -1.97 -6.30 4.47
Enterprise Value to EBITDA
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2023-03-31
Price to Earnings 16.84 21.28 33.22 27.69 27.83
Price to Sales 4.16 4.32 5.43
Book Value Per Common Share 13.39 11.86 11.48 11.27 10.83 8.88
Price to Book 0.85 0.95 1.04 1.13 1.15 1.44
Price to Operating Cash Flow -1.75 -1.42 -4.96 -12.34 -2.71
Price to Free Cash Flow -1.75 -1.42 -4.95 -12.22 -2.70
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY 4.23 41.04 -63.69
Revenue YoY 75.98 -28.82
EBITDA YoY
Net Profit YoY 10.85 41.98 -61.60
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2023-03-31
Earning YoY 28.30 47.22 -20.00 4.65
Revenue YoY 7.20
EBITDA YoY
Net Profit YoY 31.02 42.02 -18.79

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 29.45
Quick Ratio
Current Ratio
Debt to Equity 5.95 4.74 1.66 1.62
Long-Term Debt to Equity
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2023-03-31
Cash Per Common Share 22.42 27.94 13.07
Quick Ratio
Current Ratio
Debt to Equity 5.20 5.81 6.07 5.95 4.94 4.73
Long-Term Debt to Equity

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 2.47 3.21 3.23 7.96
ROE 17.16 18.42 8.61 20.83
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin 24.79 30.72 56.94
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2023-03-31
ROA 0.73 0.63 0.44 0.69 1.08
ROE 4.51 4.26 3.10 4.09 6.21
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin 24.72 20.23 19.75

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 30.84 199.76 83.36
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2023-03-31
Dividend Yield 0.00 0.00 0.00
Dividend Payout Ratio 32.75 39.35 45.32

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 2,059,912.00 1,429,513.00 998,902.00 1,056,561.00
   Deposits 973,052.00 0 0 0
      Cash and Short-Term Investments 734,522.00 0 0 0
            Cash and Cash Equivalents 734,522.00 153,087.00 53,692.00 2,397.00
            Short-Term Investments 0 1,441.00 0 0
      Net Receivables 424,751.00 136,826.00 0 48,932.00
      Inventory 0 0 0 0
      Other Current Assets 0 0 0 0
      Property, Plant, Equipment Net 5,688.00 5,701.00 6,484.00 7,310.00
      Goodwill 14,085.00 25,885.00 0 0
      Intangible Assets 1,040.00 4,235.00 0 0
      Long-Term Investments 0 43,028.00 283,599.00 758,785.00
      Non-Current Deferred Assets 0 0 0 0
      Other Non-Current Assets 0 0 0 0
Liabilities 1,763,630.00 1,180,467.00 623,544.00 652,674.00
      Payables and Expenses 0 46,481.00 35,627.00 0
            Account Payables 0 7,907.00 21,424.00 0
            Current Accrued Liabilities 0 1,349.00 0 0
      Short-Term Debt 0 61,260.00 93,788.00 0
      Other Current Liabilities 0 0 0 0
      Long-Term Debt 0 589,814.00 453,511.00 481,108.00
      Other Non-Current Liabilities 0 0 0 0
Equity 296,282.00 249,046.00 375,358.00 403,887.00
   Shareholders Equity 296,282.00 249,046.00 375,358.00 403,887.00
      Capital Stock 20,264.00 20,230.00 492.00 483.00
      Share Premium 218,266.00 200,913.00 354,243.00 367,663.00
      Retained Earnings 57,773.00 28,051.00 20,623.00 35,741.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income -21.00 -148.00 0 0
   Minority Interest 0 0 0 0
Investments 23,916.00 0 0 0
Debt 714,539.00 651,074.00 547,299.00 481,108.00
Net Debt 0 491,035.00 485,634.00 469,655.00
Common Shares Outstanding 26,291.00 24,680.00 24,609.00 24,159.00
Preferred Shares Outstanding 20.00 0 0 0
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 0 185,079.00 105,170.00 147,761.00
Cost Of Revenue 26,216.00 0 0 0
Interest Income 121,418.00 94,373.00 38,617.00 78,966.00
Interest Expense 77,613.00 67,739.00 26,325.00 20,515.00
Net Interest 40,305.00 0 0 0
Non-Interest Income 217,312.00 0 0 0
Non-Interest Expense -162,709.00 123,547.00 65,739.00 60,436.00
Provisions for Credit Losses -26,216.00 0 0 0
Operating Expenses 0 0 66,395.00 62,292.00
   Selling, General and Administrative Expenses 49,346.00 88,065.00 27,859.00 25,320.00
   Other Operating Expenses 0 0 31,163.00 31,058.00
EBT 0 45,373.00 38,775.00 85,469.00
Income Tax 17,839.00 -1,956.00 6,464.00 1,327.00
Net Income Including Non-Controlling Interests 50,853.00 47,329.00 32,311.00 84,142.00
Net Income Non-Controlling Interests 0.00 0 0 0
Net Income 50,853.00 45,875.00 32,311.00 84,142.00
Deprecation and Amortization 948.00 2,884.00 239.00 304.00
EPS 0.00 0.00 0.00 0.00
Diluted EPS 0.00 0.00 0.00 0.00
Average Shares Outstanding Basic 24,945.00 24,263.00 24,198.00 22,795.00
Average Shares Outstanding Diluted 25,186.00 24,348.00 24,198.00 22,795.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow -153,014.00 -169,219.00 -62,418.00 140,923.00
   Operating Net Income 50,853.00 47,329.00 32,311.00 84,142.00
   Deprecation and Amortization 948.00 2,884.00 239.00 304.00
   Deferred Income Tax 10,403.00 -4,800.00 6,464.00 1,327.00
   Share Based Compensation 4,062.00 2,828.00 0 0
   Change in Working Capital -8,980.00 -88,118.00 -52,440.00 139,227.00
   Other Operating Activities -210,300.00 -129,342.00 -48,992.00 -84,077.00
Investing Cash Flow -209,051.00 -172,235.00 -11.00 0
   Capital Expenditure -439.00 0 0 0
   Net Purchase/Sale of PPE -439.00 -458.00 -11.00 0
   Net Purchase/Sale of Investments Net 8,439.00 -41,153.00 0 0
   Net Purchase/Sale of Business 0 11,142.00 0 0
   Other Investing Activities -216,612.00 -141,766.00 0.00 0
Financing Cash Flow 560,897.00 344,974.00 1,175.00 -5,488.00
   Net Issuance/Repayment of Debt -38,250.00 19,522.00 67,078.00 21,519.00
   Net Issuance/Repurchase of Equity 14,427.00 19,493.00 2,019.00 50,007.00
   Dividends Paid 20,252.00 -14,147.00 -64,544.00 -70,144.00
   Other Financing Activities 564,468.00 320,106.00 -3,378.00 -6,870.00
Net Change in Cash 198,832.00 3,520.00 -61,254.00 135,435.00
   Cash at Beginning of Period 182,542.00 125,606.00 186,860.00 51,425.00
   Cash at End of Period 381,374.00 184,006.00 125,606.00 186,860.00
Free Cash Flow -153,453.00 -169,677.00 -62,429.00 140,923.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2023-03-31
Assets 2,399,099.00 2,126,217.00 2,136,737.00 2,059,912.00 1,674,170.00 1,249,739.00
   Deposits 0 0 966,321.00 973,052.00 0 247,574.00
      Cash and Short-Term Investments 0 0 564,117.00 734,522.00 0 321,689.00
            Cash and Cash Equivalents 192,194.00 190,137.00 564,117.00 734,522.00 162,493.00 321,689.00
            Short-Term Investments 18,009.00 0 0 0 15,723.00 0
      Net Receivables 43,662.00 61,430.00 554,047.00 424,751.00 62,117.00 496,355.00
      Inventory 0 0 0 0 0 0
      Other Current Assets 0 0 0 0 0 0
      Property, Plant, Equipment Net 2,292.00 2,384.00 5,268.00 5,688.00 3,992.00 7,492.00
      Goodwill 14,085.00 14,085.00 14,085.00 14,085.00 14,085.00 21,189.00
      Intangible Assets 548.00 587.00 626.00 1,040.00 709.00 18,425.00
      Long-Term Investments 146,100.00 145,822.00 0 0 80,280.00 0
      Non-Current Deferred Assets 0 0 0 0 0 8,225.00
      Other Non-Current Assets 0 0 0 0 0 0
Liabilities 2,012,392.00 1,814,037.00 1,834,457.00 1,763,630.00 1,392,385.00 1,031,701.00
      Payables and Expenses 40,434.00 31,122.00 0 0 27,454.00 0
            Account Payables 0 0 0 0 0 0
            Current Accrued Liabilities 0 0 0 0 0 0
      Short-Term Debt 135,387.00 75,192.00 0 0 7,785.00 0
      Other Current Liabilities 0 0 0 0 0 0
      Long-Term Debt 615,484.00 584,544.00 0 0 652,932.00 0
      Other Non-Current Liabilities 0 0 0 0 0 0
Equity 386,707.00 312,180.00 302,280.00 296,282.00 281,785.00 218,038.00
   Shareholders Equity 386,707.00 312,180.00 302,280.00 296,282.00 281,785.00 218,510.00
      Capital Stock 48,758.00 20,263.00 20,265.00 20,264.00 20,258.00 20,229.00
      Share Premium 255,963.00 221,914.00 220,468.00 218,266.00 216,662.00 191,316.00
      Retained Earnings 81,981.00 69,995.00 61,538.00 57,773.00 44,834.00 7,047.00
      Treasury Shares 0 0 0 0 0 0
      Accumulated Other Comprehensive Income 5.00 8.00 9.00 -21.00 31.00 -82.00
   Minority Interest 0 0 0 0 0 -472.00
Investments 0 0 14,127.00 23,916.00 0 199,733.00
Debt 750,871.00 659,736.00 780,003.00 714,539.00 660,717.00 706,539.00
Net Debt 556,355.00 467,190.00 215,886.00 0 493,341.00 384,850.00
Common Shares Outstanding 28,876.00 26,317.00 26,342.00 26,291.00 26,018.00 24,609.00
Preferred Shares Outstanding 0 0 20.00 20.00 0 0
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-06-30 2023-03-31
Revenues 70,508.00 65,770.00 0 58,394.00 0 0
Cost Of Revenue 0 0 13,505.00 0 0 1,318.00
Interest Income 39,094.00 36,518.00 37,890.00 31,271.00 0 40,354.00
Interest Expense 24,545.00 22,595.00 12,983.00 20,290.00 0 7,429.00
Net Interest 0 0 13,933.00 0 0 9,168.00
Non-Interest Income 0 0 52,398.00 0 0 108,058.00
Non-Interest Expense 37,422.00 37,607.00 -41,177.00 33,892.00 0 -99,939.00
Provisions for Credit Losses 0 0 -13,505.00 0 0 -1,318.00
   Selling, General and Administrative Expenses 26,865.00 30,016.00 10,851.00 24,035.00 0 11,874.00
EBT 25,066.00 18,772.00 0 17,057.00 0 0
Income Tax 7,165.00 5,069.00 2,282.00 5,123.00 0 9,724.00
Net Income Including Non-Controlling Interests 17,901.00 13,703.00 0 11,934.00 0 0
Net Income 17,429.00 13,303.00 9,367.00 11,534.00 0 13,547.00
Deprecation and Amortization 129.00 274.00 759.00 517.00 0 0.00
EPS 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
Average Shares Outstanding Basic 25,600.00 25,167.00 25,156.00 25,425.00 24,599.00 24,609.00
Average Shares Outstanding Diluted 26,043.00 25,648.00 25,550.00 26,589.00 24,706.00 25,237.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2023-03-31
Operating Cash Flow -167,318.00 -199,814.00 -60,704.00 -25,668.00 -116,359.00
   Operating Net Income 17,901.00 13,703.00 9,367.00 11,934.00 0
   Deprecation and Amortization 129.00 274.00 -759.00 517.00 0
   Deferred Income Tax 5,536.00 -5,230.00 2,791.00 8,185.00 -4,863.00
   Share Based Compensation 618.00 1,556.00 1,834.00 918.00 0
   Change in Working Capital 7,799.00 -5,208.00 -20,612.00 11,311.00 -13,987.00
   Other Operating Activities -199,301.00 -204,909.00 -53,325.00 -58,533.00 -97,509.00
Investing Cash Flow -69,800.00 -44,831.00 -79,245.00 -25,070.00 -23,898.00
   Capital Expenditure 0 0 -37.00 0 -165.00
   Net Purchase/Sale of PPE -5.00 -54.00 -37.00 -247.00 -165.00
   Net Purchase/Sale of Investments Net -13,748.00 -54.00 12,000.00 25,070.00 -27,901.00
   Net Purchase/Sale of Business 0 0 4,000.00 0 11,252.00
   Other Investing Activities -56,047.00 -44,723.00 -95,171.00 -49,893.00 -6,919.00
Financing Cash Flow 240,760.00 163,800.00 52,709.00 36,286.00 186,899.00
   Net Issuance/Repayment of Debt 92,305.00 51,882.00 -30,000.00 5,317.00 50,000.00
   Net Issuance/Repurchase of Equity 0 0 48.00 -1.00 19,493.00
   Dividends Paid -5,708.00 -5,235.00 5,233.00 -5,227.00 0
   Other Financing Activities 0 0 77,428.00 36,197.00 117,406.00
Net Change in Cash 3,642.00 -80,845.00 -87,240.00 -14,452.00 46,642.00
   Cash at Beginning of Period 213,289.00 294,134.00 381,374.00 206,338.00 150,502.00
   Cash at End of Period 216,931.00 213,289.00 294,134.00 190,422.00 197,144.00
Free Cash Flow -167,323.00 -199,868.00 -60,741.00 -25,915.00 -116,524.00