Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 20.81 6.96 44.93 -50.43
Price to Sales 3.49 2.98 2.08 3.24
Book Value Per Common Share 10.63 10.51 9.96 8.80
Price to Book 1.78 1.26 0.63 0.80
Price to Operating Cash Flow 15.96 14.27 12.15 30.60
Price to Free Cash Flow 22.53 15.46 14.75 39.33
Enterprise Value to EBITDA 146327.62 66723.44 147318.80
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings 98.29 105.00 79.70 59.19 77.25
Price to Sales 12.17 11.83 9.99 11.49 11.09
Book Value Per Common Share 10.57 10.68 10.39 10.63 10.30
Price to Book 1.95 1.77 1.53 1.78 1.50
Price to Operating Cash Flow 64.99 51.08 89.45 77.43 39.17
Price to Free Cash Flow 82.26 55.92 108.73 84.89 44.41
Enterprise Value to EBITDA 671551.14 747917.24 562885.86 435488.27 505382.33

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY -52.11 1257.14
Revenue YoY 21.12 19.87 31.89
EBITDA YoY -34.00 355.57
Net Profit YoY -47.31 919.63
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY 16.67 -10.00 -37.50 60.00
Revenue YoY 6.28 0.17 -2.14 18.36
EBITDA YoY 21.81 -10.75 -34.14 42.26
Net Profit YoY 18.77 -14.26 -36.27 59.92

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 1.43 1.05 1.08 1.57
Quick Ratio 2.22 2.50 3.89 3.44
Current Ratio 2.29 2.56 5.29 7.64
Debt to Equity 0.12 0.10 0.09 0.08
Long-Term Debt to Equity 0.02 0.01 0.01 0.01
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 1.33 1.50 1.16 1.43 1.20
Quick Ratio 2.25 2.37 2.10 2.22 2.01
Current Ratio 2.31 2.43 2.17 2.29 2.10
Debt to Equity 0.12 0.12 0.12 0.12 0.11
Long-Term Debt to Equity 0.01 0.01 0.01 0.02 0.01

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 7.65 15.16 1.56 -4.02
ROE 8.59 16.67 1.69 -4.34
Gross Margin 72.42 76.50 83.51 94.55
Operating Margin 20.59 40.41 7.30 -17.05
EBITDA Margin 23.83 43.73 11.51 -9.24
Net Profit Margin 16.80 38.63 4.54 -17.52
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA 1.76 1.47 1.75 2.72 1.77
ROE 1.96 1.64 1.97 3.05 1.97
Gross Margin 65.35 64.42 64.48 67.24 73.12
Operating Margin 14.94 12.58 14.65 23.40 18.59
EBITDA Margin 18.13 15.82 17.76 26.39 21.95
Net Profit Margin 12.25 10.97 12.81 19.67 14.56

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Dividend Yield 0.00 0.00
Dividend Payout Ratio 46.35 15.07
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Dividend Yield 0.00 0.00 0.00
Dividend Payout Ratio 192.14 193.60 153.67

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 1,055,585.00 1,010,943.00 964,686.00 1,092,460.00
   Current Assets 231,904.00 208,461.00 340,213.00 540,986.00
      Cash and Short-Term Investments 126,797.00 93,863.00 118,664.00 181,011.00
            Cash and Cash Equivalents 126,797.00 93,863.00 52,414.00 102,876.00
            Short-Term Investments 0 0 66,250.00 78,135.00
      Net Receivables 97,382.00 109,938.00 131,518.00 62,403.00
      Inventory 0 0 0 0
      Other Current Assets 0 0 0 0
   Non-Current Assets 823,681.00 802,482.00 624,473.00 551,475.00
      Property, Plant, Equipment Net 34,059.00 16,074.00 14,624.00 12,263.00
      Goodwill 429,742.00 429,856.00 429,445.00 430,378.00
      Intangible Assets 100,583.00 99,069.00 99,984.00 103,626.00
      Long-Term Investments 261,308.00 256,349.00 2,643.00 2,883.00
      Non-Current Deferred Assets 1,063.00 1,133.00 1,473.00 2,323.00
      Other Non-Current Assets -3,074.00 1.00 76,304.00 2.00
Liabilities 115,485.00 91,093.00 76,473.00 79,421.00
   Current Liabilities 101,093.00 81,411.00 64,330.00 70,786.00
      Payables and Expenses 91,513.00 66,971.00 59,655.00 50,934.00
            Account Payables 72,694.00 49,345.00 40,031.00 32,506.00
            Current Accrued Liabilities 13,039.00 12,887.00 11,586.00 11,793.00
      Short-Term Debt 3,955.00 3,770.00 3,112.00 11,427.00
      Other Current Liabilities 5,625.00 10,670.00 1,563.00 8,425.00
   Non-Current Liabilities 14,392.00 9,682.00 12,143.00 8,635.00
      Long-Term Debt 5,631.00 6,776.00 4,723.00 2,080.00
      Other Non-Current Liabilities 8,761.00 2,906.00 7,420.00 6,555.00
Equity 940,100.00 919,850.00 888,213.00 1,013,039.00
   Shareholders Equity 940,100.00 919,850.00 888,213.00 1,013,039.00
      Capital Stock 18.00 18.00 18.00 24.00
      Share Premium 647,212.00 717,610.00 824,832.00 824,832.00
      Retained Earnings 536,623.00 445,164.00 273,262.00 249,155.00
      Treasury Shares 238,815.00 238,815.00 206,514.00 60,453.00
      Accumulated Other Comprehensive Income -4,938.00 -4,127.00 -3,385.00 -520.00
   Minority Interest 0 0 0 0
Debt 9,586.00 10,546.00 7,835.00 13,507.00
Common Shares Outstanding 88,480.15 87,518.28 89,215.12 115,145.87
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 480,648.00 396,827.00 331,037.00 250,990.00
Cost Of Revenue 132,559.00 93,250.00 54,588.00 13,691.00
Interest Income 3,577.00 4,545.00 5,350.00 35.00
Interest Expense 530.00 369.00 282.00 316.00
Non-Interest Expense 221,600.00 204,067.00 200,177.00 205,126.00
Gross Profit 348,089.00 303,577.00 276,449.00 237,299.00
Operating Expenses 255,714.00 240,005.00 231,448.00 237,889.00
   Selling, General and Administrative Expenses 221,600.00 204,067.00 200,177.00 205,126.00
   Other Operating Expenses 19,316.00 18,806.00 15,945.00 12,606.00
Operating Income 92,375.00 63,572.00 45,001.00 -590.00
Net Non-Operating Income 0 0 469.00 466.00
EBT 98,412.00 159,997.00 23,870.00 -43,106.00
Income Tax 17,642.00 6,697.00 8,835.00 43.00
Net Income Including Non-Controlling Interests 80,771.00 153,301.00 15,035.00 -43,964.00
Net Income 80,771.00 153,301.00 15,035.00 -43,964.00
EBIT 98,942.00 160,366.00 24,152.00 -42,790.00
Deprecation and Amortization 15,582.00 13,165.00 13,939.00 19,600.00
EBITDA 114,524.00 173,531.00 38,091.00 -23,190.00
EPS 0.00 0.00 0.00 -0.00
Diluted EPS 0.00 0.00 0.00 -0.00
Average Shares Outstanding Basic 88,463.00 89,255.00 109,480.00 115,140.00
Average Shares Outstanding Diluted 89,676.00 90,920.00 110,335.00 115,140.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 104,977.00 82,761.00 56,662.00 26,564.00
   Operating Net Income 98,412.00 159,997.00 23,870.00 -44,159.00
   Deprecation and Amortization 15,582.00 13,165.00 13,939.00 19,600.00
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 8,631.00 14,926.00 9,073.00 9,785.00
   Change in Working Capital -3,897.00 -2,711.00 -6,581.00 6,103.00
   Other Operating Activities -13,751.00 -102,616.00 16,361.00 35,235.00
Investing Cash Flow -27,112.00 19,999.00 44,450.00 -49,703.00
   Capital Expenditure -7,263.00 -4,281.00 -6,789.00 -4,836.00
   Net Purchase/Sale of PPE -23,344.00 -1,873.00 -3,187.00 -1,060.00
   Net Purchase/Sale of Investments Net 1,333.00 23,414.00 53,057.00 -84,835.00
   Net Purchase/Sale of Business -1,250.00 0 0 40,992.00
   Other Investing Activities 3,412.00 2,739.00 1,369.00 36.00
Financing Cash Flow -42,146.00 -59,843.00 -150,578.00 -6,683.00
   Net Issuance/Repayment of Debt -4,181.00 -4,068.00 -4,215.00 -5,618.00
   Net Issuance/Repurchase of Equity 0 -32,695.00 -146,068.00 -749.00
   Dividends Paid -37,435.00 -23,105.00 0 0
   Other Financing Activities -530.00 25.00 -295.00 -316.00
Net Change in Cash 35,719.00 42,918.00 -49,466.00 -29,820.00
   Cash at Beginning of Period 93,863.00 52,414.00 102,876.00 134,168.00
   Cash at End of Period 126,797.00 93,863.00 52,414.00 102,876.00
Free Cash Flow 74,370.00 76,357.00 46,686.00 20,668.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Assets 1,059,790.00 1,069,688.00 1,043,099.00 1,055,585.00 1,012,665.00
   Current Assets 233,222.00 243,005.00 218,578.00 231,904.00 193,424.00
      Cash and Short-Term Investments 119,042.00 133,823.00 103,546.00 126,797.00 106,005.00
            Cash and Cash Equivalents 119,042.00 133,823.00 103,546.00 126,797.00 106,005.00
            Short-Term Investments 0 0 0 0 0
      Net Receivables 108,245.00 103,287.00 108,479.00 97,382.00 79,159.00
      Inventory 0 0 0 0 0
      Other Current Assets 5,935.00 5,895.00 6,553.00 7,725.00 8,260.00
   Non-Current Assets 826,568.00 826,683.00 824,521.00 823,681.00 819,241.00
      Property, Plant, Equipment Net 32,438.00 33,949.00 32,897.00 34,059.00 34,490.00
      Goodwill 430,319.00 430,504.00 429,977.00 429,742.00 430,274.00
      Intangible Assets 98,869.00 98,232.00 97,877.00 100,583.00 97,452.00
      Long-Term Investments 263,669.00 262,708.00 262,630.00 261,308.00 255,926.00
      Non-Current Deferred Assets 1,273.00 1,290.00 1,140.00 1,063.00 1,099.00
      Other Non-Current Assets 0.00 0.00 0.00 -3,074.00 0.00
Liabilities 112,146.00 113,927.00 113,523.00 115,485.00 100,973.00
   Current Liabilities 101,178.00 100,177.00 100,936.00 101,093.00 91,929.00
      Payables and Expenses 81,664.00 81,667.00 76,091.00 91,513.00 71,856.00
            Account Payables 75,081.00 79,179.00 68,592.00 72,694.00 63,678.00
            Current Accrued Liabilities 0 0 0 13,039.00 0
      Short-Term Debt 4,167.00 4,473.00 4,095.00 3,955.00 3,523.00
      Other Current Liabilities 15,347.00 14,037.00 20,750.00 5,625.00 16,550.00
   Non-Current Liabilities 10,968.00 13,750.00 12,587.00 14,392.00 9,044.00
      Long-Term Debt 4,657.00 5,253.00 5,455.00 5,631.00 5,438.00
      Other Non-Current Liabilities 6,311.00 8,497.00 7,132.00 8,761.00 3,606.00
Equity 947,644.00 955,761.00 929,576.00 940,100.00 911,692.00
   Shareholders Equity 947,644.00 955,761.00 929,576.00 940,100.00 911,692.00
      Capital Stock 18.00 18.00 18.00 18.00 18.00
      Share Premium 576,046.00 611,818.00 611,818.00 647,212.00 647,204.00
      Retained Earnings 612,137.00 584,566.00 560,340.00 536,623.00 506,107.00
      Treasury Shares 238,815.00 238,815.00 238,815.00 238,815.00 238,815.00
      Accumulated Other Comprehensive Income -1,742.00 -1,825.00 -3,786.00 -4,938.00 -2,823.00
   Minority Interest 0 0 0 0 0
Debt 8,824.00 9,726.00 9,550.00 9,586.00 8,961.00
Common Shares Outstanding 89,648.06 89,513.29 89,500.85 88,480.15 88,480.15
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Revenues 151,937.00 142,962.00 142,716.00 145,834.00 123,210.00
Cost Of Revenue 52,642.00 50,862.00 50,693.00 47,772.00 33,115.00
Interest Income 794.00 894.00 678.00 994.00 784.00
Interest Expense 115.00 223.00 120.00 98.00 117.00
Non-Interest Expense 66,951.00 63,620.00 60,605.00 61,152.00 57,893.00
Gross Profit 99,295.00 92,100.00 92,023.00 98,062.00 90,095.00
Operating Expenses 76,736.00 73,385.00 70,215.00 70,396.00 66,905.00
   Selling, General and Administrative Expenses 66,951.00 63,620.00 60,605.00 61,152.00 57,893.00
   Other Operating Expenses 5,266.00 5,297.00 5,016.00 5,423.00 4,911.00
Operating Income 22,559.00 18,715.00 21,808.00 27,666.00 23,190.00
EBT 22,584.00 17,763.00 20,791.00 34,030.00 22,786.00
Income Tax 3,966.00 2,087.00 2,508.00 5,342.00 4,846.00
Net Income Including Non-Controlling Interests 18,618.00 15,676.00 18,283.00 28,689.00 17,940.00
Net Income 18,618.00 15,676.00 18,283.00 28,689.00 17,940.00
EBIT 22,699.00 17,986.00 20,911.00 34,128.00 22,903.00
Deprecation and Amortization 4,854.00 4,634.00 4,434.00 4,353.00 4,146.00
EBITDA 27,553.00 22,620.00 25,345.00 38,481.00 27,049.00
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 89,580.00 89,505.00 89,486.00 88,480.00 88,472.00
Average Shares Outstanding Diluted 90,800.00 90,316.00 90,188.00 89,741.00 89,487.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Operating Cash Flow 28,454.00 33,119.00 15,945.00 21,643.00 34,896.00
   Operating Net Income 22,584.00 17,763.00 20,791.00 34,030.00 22,786.00
   Deprecation and Amortization 4,854.00 4,634.00 4,434.00 4,353.00 4,146.00
   Deferred Income Tax 0 0 0 0 0
   Share Based Compensation 8,359.00 8,259.00 5,761.00 856.00 3,554.00
   Change in Working Capital -6,519.00 7,345.00 -15,200.00 -7,498.00 4,394.00
   Other Operating Activities -824.00 -4,882.00 159.00 -10,098.00 16.00
Investing Cash Flow -6,433.00 -1,971.00 -3,399.00 -1,328.00 -3,343.00
   Capital Expenditure -2,756.00 -2,476.00 -2,231.00 -1,872.00 -2,271.00
   Net Purchase/Sale of PPE -3,222.00 -389.00 -596.00 -34.00 -1,845.00
   Net Purchase/Sale of Investments Net 0 0 0 833.00 0
   Net Purchase/Sale of Business -1,250.00 0 -1,250.00 0 0
   Other Investing Activities 795.00 894.00 0 0 0
Financing Cash Flow -37,106.00 -1,370.00 -36,606.00 -1,236.00 -28,726.00
   Net Issuance/Repayment of Debt -1,219.00 -1,181.00 -1,091.00 -1,103.00 -1,041.00
   Net Issuance/Repurchase of Equity 0 0 0 0 0
   Dividends Paid -35,772.00 0 -35,395.00 8.00 -27,569.00
   Other Financing Activities 0 0 0 -141.00 -116.00
Net Change in Cash -15,085.00 29,777.00 -24,060.00 19,079.00 2,826.00
   Cash at Beginning of Period 133,823.00 103,546.00 126,797.00 106,005.00 104,356.00
   Cash at End of Period 119,042.00 133,823.00 103,546.00 126,797.00 106,005.00
Free Cash Flow 22,476.00 30,254.00 13,118.00 19,737.00 30,780.00