PDD
Valuation Ratios
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Price to Earnings | 1.19 | 3.30 | 3.27 | 9.40 |
| Price to Sales | 0.34 | 0.80 | 0.79 | 0.78 |
| Book Value Per Common Share | 56.26 | 34.02 | 22.31 | 14.85 |
| Price to Book | 1.72 | 4.30 | 3.65 | 3.93 |
| Price to Operating Cash Flow | 1.10 | 2.10 | 2.13 | 2.54 |
| Price to Free Cash Flow | 1.11 | 2.12 | 2.15 | 2.87 |
| Enterprise Value to EBITDA | 39908.75 | 109085.30 | 109789.01 | 235300.01 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Price to Earnings | 6.31 | 4.76 | 11.17 | 4.91 | 7.47 |
| Price to Sales | 1.71 | 1.41 | 1.72 | 1.22 | 1.88 |
| Book Value Per Common Share | 279.71 | 63.72 | 58.06 | 56.26 | 50.01 |
| Price to Book | 0.47 | 1.64 | 2.04 | 1.72 | 2.70 |
| Price to Operating Cash Flow | 4.05 | 6.76 | 10.62 | 4.56 | 6.79 |
| Price to Free Cash Flow | 4.05 | 6.76 | 10.62 | 4.71 | 6.79 |
| Enterprise Value to EBITDA | 73885.37 | 230405.73 | 417781.65 | 166621.39 | 309014.11 |
Earnings Data
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Earning YoY | 83.30 | 77.56 | 302.58 | |
| Revenue YoY | 59.04 | 89.68 | 38.97 | |
| EBITDA YoY | 83.33 | 88.27 | 212.88 | |
| Net Profit YoY | 87.31 | 90.33 | 305.96 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Earning YoY | -4.73 | 107.55 | -46.36 | 9.53 | |
| Revenue YoY | 4.13 | 8.69 | -13.51 | 11.33 | |
| EBITDA YoY | -2.97 | 60.35 | -50.37 | 33.43 | |
| Net Profit YoY | -4.63 | 108.61 | -46.29 | 9.87 |
Financial Strength
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Cash Per Common Share | 239.56 | 160.42 | 118.19 | 74.17 |
| Quick Ratio | 1.82 | 1.50 | 1.34 | 1.06 |
| Current Ratio | 2.21 | 1.93 | 1.85 | 1.72 |
| Debt to Equity | 0.61 | 0.86 | 1.01 | 1.41 |
| Long-Term Debt to Equity | 0.01 | 0.04 | 0.02 | 0.16 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Cash Per Common Share | 302.84 | 277.13 | 261.86 | 238.67 | 222.57 |
| Quick Ratio | 2.00 | 1.99 | 1.92 | 1.82 | 1.79 |
| Current Ratio | 2.36 | 2.36 | 2.27 | 2.21 | 2.15 |
| Debt to Equity | 0.57 | 0.57 | 0.61 | 0.61 | 0.68 |
| Long-Term Debt to Equity | 0.01 | 0.01 | 0.01 | 0.01 | 0.03 |
Profitability
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| ROA | 22.26 | 17.25 | 13.30 | 4.29 |
| ROE | 35.89 | 32.06 | 26.78 | 10.34 |
| Gross Margin | 60.92 | 62.96 | 75.90 | 66.24 |
| Operating Margin | 33.69 | 29.04 | 27.93 | 11.37 |
| EBITDA Margin | 34.36 | 29.81 | 30.03 | 13.34 |
| Net Profit Margin | 28.55 | 24.24 | 24.16 | 8.27 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| ROA | 4.78 | 5.42 | 2.78 | 5.43 | 5.35 |
| ROE | 7.49 | 8.50 | 4.47 | 8.76 | 8.97 |
| Gross Margin | 56.74 | 55.90 | 57.20 | 56.79 | 60.03 |
| Operating Margin | 23.11 | 24.80 | 16.81 | 29.30 | 24.45 |
| EBITDA Margin | 23.11 | 24.80 | 16.81 | 29.30 | 24.45 |
| Net Profit Margin | 27.09 | 29.57 | 15.41 | 24.81 | 25.14 |
Dividends
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Dividend Yield | ||||
| Dividend Payout Ratio |
| 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 | 505,034,316.00 | 348,078,120.00 | 237,119,953.00 | 181,209,718.00 |
| Current Assets | 415,648,232.00 | 294,750,472.00 | 216,617,876.00 | 160,909,168.00 |
| Cash and Short-Term Investments | 331,559,909.00 | 217,209,834.00 | 149,438,746.00 | 92,943,333.00 |
| Cash and Cash Equivalents | 57,768,053.00 | 59,794,469.00 | 34,326,192.00 | 6,426,715.00 |
| Short-Term Investments | 273,791,856.00 | 157,415,365.00 | 115,112,554.00 | 86,516,618.00 |
| Net Receivables | 12,152,563.00 | 12,580,781.00 | 7,352,517.00 | 5,959,027.00 |
| Inventory | 0 | 0 | 0 | 14,196.00 |
| Other Current Assets | 0 | 0 | 0 | 61,992,612.00 |
| Non-Current Assets | 89,386,084.00 | 53,327,648.00 | 20,502,077.00 | 20,300,550.00 |
| Property, Plant, Equipment Net | 5,943,678.00 | 5,084,486.00 | 2,460,928.00 | 3,141,860.00 |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 21,148.00 | 134,002.00 | 701,220.00 |
| Long-Term Investments | 0 | 0 | 0 | 0 |
| Non-Current Deferred Assets | 15,998.00 | 270,738.00 | 1,045,030.00 | 31,504.00 |
| Other Non-Current Assets | 0 | 47,951,276.00 | 16,862,117.00 | 16,425,966.00 |
| Liabilities | 191,721,192.00 | 160,836,513.00 | 119,349,042.00 | 106,095,171.00 |
| Current Liabilities | 188,422,853.00 | 152,900,901.00 | 116,889,480.00 | 93,729,714.00 |
| Payables and Expenses | 158,640,760.00 | 126,755,465.00 | 84,157,542.00 | 77,760,504.00 |
| Account Payables | 119,936,275.00 | 91,902,691.00 | 67,295,513.00 | 64,461,395.00 |
| Current Accrued Liabilities | 11,070,464.00 | 13,485,287.00 | 5,850,125.00 | 3,652,648.00 |
| Short-Term Debt | 7,415,575.00 | 2,290,118.00 | 14,487,787.00 | 427,164.00 |
| Other Current Liabilities | 22,366,518.00 | 23,855,318.00 | 18,244,151.00 | 15,542,046.00 |
| Non-Current Liabilities | 3,298,339.00 | 7,935,612.00 | 2,459,562.00 | 12,365,457.00 |
| Long-Term Debt | 3,191,565.00 | 7,875,783.00 | 2,446,537.00 | 12,333,170.00 |
| Other Non-Current Liabilities | 106,774.00 | 59,829.00 | 13,025.00 | 32,287.00 |
| Equity | 313,313,124.00 | 187,241,607.00 | 117,770,911.00 | 75,114,547.00 |
| Shareholders Equity | 313,313,124.00 | 187,241,607.00 | 117,770,911.00 | 75,114,547.00 |
| Capital Stock | 180.00 | 177.00 | 170.00 | 161.00 |
| Share Premium | 117,829,308.00 | 107,293,091.00 | 99,250,468.00 | 95,340,819.00 |
| Retained Earnings | 187,421,411.00 | 75,118,597.00 | 15,193,035.00 | -17,706,533.00 |
| Treasury Shares | 0 | 0 | 0 | 0 |
| Accumulated Other Comprehensive Income | 8,062,225.00 | 4,829,742.00 | 3,327,238.00 | -2,519,900.00 |
| Minority Interest | 0 | 0 | 0 | 0 |
| Debt | 10,607,140.00 | 10,165,901.00 | 16,934,324.00 | 12,760,334.00 |
| Net Debt | 0 | 0 | 0 | 5,362,192.00 |
| Common Shares Outstanding | 5,568,585.85 | 5,503,491.15 | 5,278,348.40 | 5,057,542.68 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Revenues | 393,836,097.00 | 247,639,205.00 | 130,557,589.00 | 93,949,939.00 |
| Cost Of Revenue | 153,900,374.00 | 91,723,577.00 | 31,462,298.00 | 31,718,093.00 |
| Interest Income | 20,553,493.00 | 10,238,080.00 | 3,997,100.00 | 3,061,662.00 |
| Interest Expense | 0 | 43,987.00 | 51,655.00 | 1,231,002.00 |
| Non-Interest Expense | 118,853,500.00 | 86,264,492.00 | 58,308,654.00 | 46,342,494.00 |
| Gross Profit | 239,935,723.00 | 155,915,628.00 | 99,095,291.00 | 62,231,846.00 |
| Operating Expenses | 131,512,861.00 | 97,216,866.00 | 68,693,370.00 | 55,335,084.00 |
| Selling, General and Administrative Expenses | 118,853,500.00 | 86,264,492.00 | 58,308,654.00 | 46,342,494.00 |
| Research and Development Expenses | 12,659,361.00 | 10,952,374.00 | 10,384,716.00 | 8,992,590.00 |
| Operating Income | 108,422,862.00 | 58,698,762.00 | 30,401,921.00 | 6,896,762.00 |
| Net Non-Operating Income | 3,119,847.00 | 2,952,579.00 | 2,221,358.00 | 656,255.00 |
| EBT | 132,684,068.00 | 71,881,155.00 | 36,419,014.00 | 9,455,427.00 |
| Income Tax | 20,266,781.00 | 11,849,904.00 | 4,725,667.00 | 1,933,585.00 |
| Net Income Including Non-Controlling Interests | 112,434,512.00 | 60,026,544.00 | 31,538,062.00 | 7,768,670.00 |
| Net Income | 112,434,512.00 | 60,026,544.00 | 31,538,062.00 | 7,768,670.00 |
| EBIT | 132,684,068.00 | 71,925,142.00 | 36,470,669.00 | 10,686,429.00 |
| Deprecation and Amortization | 2,640,887.00 | 1,888,205.00 | 2,735,084.00 | 1,844,243.00 |
| EBITDA | 135,324,955.00 | 73,813,347.00 | 39,205,753.00 | 12,530,672.00 |
| EPS | 0.08 | 0.04 | 0.02 | 0.01 |
| Diluted EPS | 0.08 | 0.04 | 0.02 | 0.01 |
| Average Shares Outstanding Basic | 1,384,012.25 | 1,354,026.50 | 1,264,385.00 | 1,253,162.75 |
| Average Shares Outstanding Diluted | 1,479,148.00 | 1,459,907.50 | 1,440,322.75 | 1,428,441.00 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Operating Cash Flow | 121,929,292.00 | 94,162,531.00 | 48,507,860.00 | 28,783,011.00 |
| Operating Net Income | 112,434,512.00 | 60,026,544.00 | 31,538,062.00 | 7,768,670.00 |
| Deprecation and Amortization | 2,640,887.00 | 1,888,205.00 | 2,735,084.00 | 1,844,243.00 |
| Deferred Income Tax | 222,176.00 | 801,100.00 | -1,028,586.00 | -213.00 |
| Share Based Compensation | 9,883,564.00 | 7,078,794.00 | 7,718,365.00 | 4,774,730.00 |
| Change in Working Capital | 6,663,391.00 | 26,456,261.00 | 7,423,415.00 | 13,561,705.00 |
| Other Operating Activities | -9,915,238.00 | -2,088,373.00 | 121,520.00 | 833,876.00 |
| Investing Cash Flow | -118,356,036.00 | -55,431,278.00 | -22,361,670.00 | -35,562,365.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | -966,597.00 | -583,429.00 | -635,676.00 | -3,286,838.00 |
| Net Purchase/Sale of Investments Net | -117,424,591.00 | -54,977,638.00 | -21,725,994.00 | -32,720,564.00 |
| Net Purchase/Sale of Business | 0 | 0 | 0 | 0 |
| Other Investing Activities | 0 | 0 | 0 | 0 |
| Financing Cash Flow | 1,164.00 | -8,960,626.00 | 10,079.00 | -1,875,154.00 |
| Net Issuance/Repayment of Debt | -91.00 | -8,968,817.00 | 0 | -1,875,472.00 |
| Net Issuance/Repurchase of Equity | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Other Financing Activities | 0 | 0 | 0 | 0 |
| Net Change in Cash | 3,574,420.00 | 29,770,627.00 | 26,156,269.00 | -8,654,508.00 |
| Cash at Beginning of Period | 121,779,905.00 | 92,300,417.00 | 66,043,971.00 | 74,843,636.00 |
| Cash at End of Period | 126,194,421.00 | 121,779,905.00 | 92,300,417.00 | 66,043,971.00 |
| Free Cash Flow | 120,962,155.00 | 93,578,652.00 | 47,872,144.00 | 25,495,779.00 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Assets | 613,724,318.00 | 567,156,296.00 | 530,513,245.00 | 505,034,316.00 | 466,793,869.00 |
| Current Assets | 516,359,817.00 | 476,042,545.00 | 447,774,103.00 | 415,648,232.00 | 386,831,287.00 |
| Cash and Short-Term Investments | 423,769,287.00 | 387,131,084.00 | 364,500,836.00 | 331,559,909.00 | 308,461,752.00 |
| Cash and Cash Equivalents | 92,386,547.00 | 63,222,442.00 | 70,126,217.00 | 57,768,053.00 | 65,295,431.00 |
| Short-Term Investments | 331,382,740.00 | 323,908,642.00 | 294,374,619.00 | 273,791,856.00 | 243,166,321.00 |
| Net Receivables | 15,147,251.00 | 14,693,243.00 | 12,886,776.00 | 12,152,563.00 | 13,922,664.00 |
| Inventory | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 77,443,279.00 | 74,218,218.00 | 70,386,491.00 | 71,935,760.00 | 64,446,871.00 |
| Non-Current Assets | 97,364,501.00 | 91,113,751.00 | 82,739,142.00 | 89,386,084.00 | 79,962,582.00 |
| Property, Plant, Equipment Net | 6,208,596.00 | 6,052,141.00 | 6,431,758.00 | 5,943,678.00 | 5,695,694.00 |
| 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 | 670,254.00 | 73,303.00 | 62,764.00 | 15,998.00 | 272,699.00 |
| Other Non-Current Assets | 90,485,651.00 | 84,988,307.00 | 76,244,620.00 | 83,426,408.00 | 73,994,189.00 |
| Liabilities | 222,321,342.00 | 205,292,640.00 | 200,811,846.00 | 191,721,192.00 | 188,288,949.00 |
| Current Liabilities | 219,218,182.00 | 201,962,497.00 | 197,024,748.00 | 188,422,853.00 | 179,996,922.00 |
| Payables and Expenses | 190,822,953.00 | 173,520,308.00 | 169,832,431.00 | 158,640,760.00 | 158,260,369.00 |
| Account Payables | 100,578,026.00 | 95,521,629.00 | 92,515,127.00 | 119,936,275.00 | 82,780,215.00 |
| Current Accrued Liabilities | 89,065,852.00 | 76,838,168.00 | 76,207,380.00 | 11,070,464.00 | 74,404,296.00 |
| Short-Term Debt | 7,634,015.00 | 7,703,347.00 | 7,627,240.00 | 7,415,575.00 | 2,015,098.00 |
| Other Current Liabilities | 20,761,214.00 | 20,738,842.00 | 19,565,077.00 | 22,366,518.00 | 19,721,455.00 |
| Non-Current Liabilities | 3,103,160.00 | 3,330,143.00 | 3,787,098.00 | 3,298,339.00 | 8,292,027.00 |
| Long-Term Debt | 3,039,624.00 | 3,259,973.00 | 3,625,587.00 | 3,191,565.00 | 8,221,733.00 |
| Other Non-Current Liabilities | 63,536.00 | 70,170.00 | 161,511.00 | 106,774.00 | 70,294.00 |
| Equity | 391,402,976.00 | 361,863,656.00 | 329,701,399.00 | 313,313,124.00 | 278,504,920.00 |
| Shareholders Equity | 391,402,976.00 | 361,863,656.00 | 329,701,399.00 | 313,313,124.00 | 278,504,920.00 |
| Capital Stock | 181.00 | 181.00 | 180.00 | 180.00 | 179.00 |
| Share Premium | 124,013,007.00 | 121,958,952.00 | 120,003,756.00 | 117,829,308.00 | 115,424,865.00 |
| Retained Earnings | 262,244,881.00 | 232,916,697.00 | 202,163,240.00 | 187,421,411.00 | 160,106,472.00 |
| Treasury Shares | 0 | 0 | 0 | 0 | 0 |
| Accumulated Other Comprehensive Income | 5,144,907.00 | 6,987,826.00 | 7,534,223.00 | 8,062,225.00 | 2,973,404.00 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| Debt | 10,673,639.00 | 10,963,320.00 | 11,252,827.00 | 10,607,140.00 | 10,236,831.00 |
| Common Shares Outstanding | 0 | 5,678,585.85 | 5,678,585.85 | 5,568,585.85 | 5,568,585.85 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Revenues | 108,276,512.00 | 103,984,832.00 | 95,672,175.00 | 110,610,106.00 | 99,354,401.00 |
| Cost Of Revenue | 46,840,159.00 | 45,858,933.00 | 40,947,100.00 | 47,798,376.00 | 39,709,214.00 |
| Interest Income | 8,565,241.00 | 10,422,628.00 | 223,125.00 | 5,233,232.00 | 5,416,080.00 |
| Non-Interest Expense | 32,078,256.00 | 28,741,721.00 | 35,061,684.00 | 33,442,337.00 | 32,289,376.00 |
| Gross Profit | 61,436,353.00 | 58,125,899.00 | 54,725,075.00 | 62,811,730.00 | 59,645,187.00 |
| Operating Expenses | 36,410,429.00 | 32,333,000.00 | 38,639,512.00 | 37,219,515.00 | 35,352,729.00 |
| Selling, General and Administrative Expenses | 32,078,256.00 | 28,741,721.00 | 35,061,684.00 | 33,442,337.00 | 32,289,376.00 |
| Research and Development Expenses | 4,332,173.00 | 3,591,279.00 | 3,577,828.00 | 3,777,178.00 | 3,063,353.00 |
| Operating Income | 25,025,924.00 | 25,792,899.00 | 16,085,563.00 | 25,592,215.00 | 24,292,458.00 |
| Net Non-Operating Income | -48,382.00 | 119,106.00 | 3,261,292.00 | 726,735.00 | 18,606.00 |
| EBT | 33,277,583.00 | 35,535,283.00 | 19,327,840.00 | 32,412,708.00 | 29,179,801.00 |
| Income Tax | 3,986,686.00 | 4,818,923.00 | 4,480,831.00 | 5,082,796.00 | 4,201,620.00 |
| Net Income Including Non-Controlling Interests | 29,328,184.00 | 30,753,457.00 | 14,741,829.00 | 27,446,637.00 | 24,980,694.00 |
| Net Income | 29,328,184.00 | 30,753,457.00 | 14,741,829.00 | 27,446,637.00 | 24,980,694.00 |
| EBIT | 25,025,924.00 | 25,792,899.00 | 16,085,563.00 | 32,412,708.00 | 24,292,458.00 |
| EBITDA | 25,025,924.00 | 25,792,899.00 | 16,085,563.00 | 32,412,708.00 | 24,292,458.00 |
| EPS | 0.02 | 0.02 | 0.01 | 0.02 | 0.02 |
| Diluted EPS | 0.02 | 0.02 | 0.01 | 0.02 | 0.02 |
| Average Shares Outstanding Basic | 1,399,306.00 | 1,396,949.25 | 1,391,950.75 | 1,389,194.00 | 1,385,908.25 |
| Average Shares Outstanding Diluted | 1,488,449.00 | 1,481,950.00 | 1,483,081.25 | 1,481,319.50 | 1,477,448.25 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Operating Cash Flow | 45,660,545.00 | 21,641,656.00 | 15,516,943.00 | 29,547,160.00 | 27,522,313.00 |
| Operating Net Income | 0 | 0 | 0 | 0 | 0 |
| Deprecation and Amortization | 0 | 0 | 0 | 0 | 0 |
| Deferred Income Tax | 0 | 0 | 0 | 0 | 0 |
| Share Based Compensation | 0 | 0 | 0 | 0 | 0 |
| Change in Working Capital | 0 | 0 | 0 | 0 | 0 |
| Other Operating Activities | 45,660,545.00 | 21,641,656.00 | 15,516,943.00 | 29,547,160.00 | 27,522,313.00 |
| Investing Cash Flow | -11,555,616.00 | -27,021,892.00 | -6,383,976.00 | -30,545,257.00 | -16,898,558.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | 0 | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of Investments Net | 0 | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of Business | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | -11,555,616.00 | -27,021,892.00 | -6,383,976.00 | -30,545,257.00 | -16,898,558.00 |
| Financing Cash Flow | 551.00 | 353.00 | 219.00 | 274.00 | 132.00 |
| Net Issuance/Repayment of Debt | 0 | 0 | 0 | 0 | 0 |
| Net Issuance/Repurchase of Equity | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 551.00 | 353.00 | 219.00 | 274.00 | 132.00 |
| Net Change in Cash | 34,105,480.00 | -5,379,883.00 | 9,133,186.00 | -997,823.00 | 10,623,887.00 |
| Cash at Beginning of Period | 129,900,082.00 | 135,258,089.00 | 126,194,421.00 | 125,688,495.00 | 116,116,929.00 |
| Cash at End of Period | 163,389,470.00 | 129,900,082.00 | 135,258,089.00 | 126,194,421.00 | 125,688,495.00 |
| Free Cash Flow | 45,660,545.00 | 21,641,656.00 | 15,516,943.00 | 28,580,023.00 | 27,522,313.00 |