Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 31.37 12.40 11.45 21.28
Price to Sales 0.80 1.96 1.77 1.73
Book Value Per Common Share 16.13 14.96 12.63 10.69
Price to Book 0.53 2.06 2.00 2.25
Price to Operating Cash Flow 57.70 9.36 9.30 11.63
Price to Free Cash Flow 6050.00 9.41 9.38 11.74
Enterprise Value to EBITDA 118947.58 99204.21 92887.79 189925.24
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings -96.00 -126.88 -42.84 77.00 157.60
Price to Sales 3.60 4.14 4.09 2.96 3.62
Book Value Per Common Share 16.98 16.37 15.89 16.13 15.26
Price to Book 0.57 0.62 0.51 0.53 0.52
Price to Operating Cash Flow 67.65 20.04 -51.81 88.23 22.77
Price to Free Cash Flow 89.55 21.54 -41.74 130.51 31.07
Enterprise Value to EBITDA 431196871.22 213468.90 4847114.01

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY -89.16 12.67 95.58
Revenue YoY -32.95 16.07 33.81
EBITDA YoY -78.63 18.75 127.28
Net Profit YoY -89.03 17.94 151.84
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY 120.00
Revenue YoY 7.26 15.27 -31.05 26.79
EBITDA YoY 2212.61
Net Profit YoY 133.73

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 7.90 10.03 9.57 9.35
Quick Ratio 3.32 2.07 2.52 2.26
Current Ratio 3.47 2.14 2.57 2.30
Debt to Equity 0.27 0.50 0.49 0.53
Long-Term Debt to Equity 0.04 0.03 0.09 0.11
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 7.61 7.59 7.99 8.26 8.18
Quick Ratio 2.91 2.98 3.81 3.32 3.72
Current Ratio 3.13 3.18 3.97 3.47 3.88
Debt to Equity 0.33 0.32 0.23 0.27 0.24
Long-Term Debt to Equity 0.09 0.08 0.04 0.04 0.04

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 1.38 10.67 11.20 5.43
ROE 1.74 16.01 16.72 8.29
Gross Margin 33.25 36.65 37.06 34.54
Operating Margin 3.11 18.20 17.48 9.50
EBITDA Margin 6.41 20.09 19.64 11.56
Net Profit Margin 2.53 15.47 15.23 8.09
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA -0.45 -0.38 -0.95 0.54 0.24
ROE -0.59 -0.50 -1.17 0.68 0.29
Gross Margin 33.65 33.57 30.58 32.73 35.32
Operating Margin -4.46 -7.15 -13.10 11.01 -2.75
EBITDA Margin 0.01 -2.98 -9.22 13.72 0.75
Net Profit Margin -3.69 -3.37 -9.34 3.81 2.07

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 915,526.00 1,077,266.00 870,218.00 713,232.00
   Current Assets 561,465.00 726,586.00 603,458.00 446,171.00
      Cash and Short-Term Investments 373,335.00 472,675.00 429,626.00 321,646.00
            Cash and Cash Equivalents 156,228.00 187,609.00 176,226.00 104,446.00
            Short-Term Investments 217,107.00 285,066.00 253,400.00 217,200.00
      Net Receivables 164,358.00 231,539.00 160,488.00 115,361.00
      Inventory 0 0 0 0
      Other Current Assets 23,772.00 22,372.00 13,344.00 9,164.00
   Non-Current Assets 354,061.00 350,680.00 266,760.00 267,061.00
      Property, Plant, Equipment Net 29,125.00 9,788.00 13,741.00 15,789.00
      Goodwill 247,086.00 247,975.00 195,527.00 189,265.00
      Intangible Assets 68,917.00 88,652.00 51,664.00 56,700.00
      Long-Term Investments 0 0 0 0
      Non-Current Deferred Assets 8,517.00 4,180.00 5,779.00 5,228.00
      Other Non-Current Assets 416.00 85.00 49.00 79.00
Liabilities 192,586.00 359,119.00 287,084.00 246,272.00
   Current Liabilities 161,850.00 340,028.00 234,608.00 193,707.00
      Payables and Expenses 153,693.00 258,983.00 192,585.00 147,318.00
            Account Payables 122,005.00 217,181.00 155,854.00 107,730.00
            Current Accrued Liabilities 31,688.00 41,802.00 36,731.00 39,588.00
      Short-Term Debt 3,648.00 4,198.00 3,900.00 3,615.00
      Other Current Liabilities 4,509.00 76,847.00 38,123.00 42,774.00
   Non-Current Liabilities 30,736.00 19,091.00 52,476.00 52,565.00
      Long-Term Debt 18,654.00 3,448.00 7,580.00 9,774.00
      Other Non-Current Liabilities 12,082.00 15,643.00 44,896.00 42,791.00
Equity 722,940.00 718,147.00 583,134.00 466,960.00
   Shareholders Equity 722,940.00 718,147.00 583,134.00 466,960.00
      Capital Stock 391.00 413.00 398.00 375.00
      Share Premium 527,149.00 534,816.00 513,534.00 496,154.00
      Retained Earnings 196,617.00 184,003.00 70,786.00 -28,439.00
      Treasury Shares 1,002.00 1,002.00 1,002.00 1,002.00
      Accumulated Other Comprehensive Income -215.00 -83.00 -582.00 -128.00
   Minority Interest 0 0 0 0
Debt 22,302.00 7,646.00 11,480.00 13,389.00
Common Shares Outstanding 44,825.05 47,991.34 46,172.39 43,696.72
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 498,286.00 743,155.00 640,256.00 478,498.00
Cost Of Revenue 332,605.00 470,796.00 403,002.00 313,215.00
Interest Income 20,245.00 21,875.00 4,993.00 539.00
Interest Expense 0 0 0 119.00
Non-Interest Expense 104,432.00 91,403.00 85,194.00 76,388.00
Gross Profit 165,681.00 272,359.00 237,254.00 165,283.00
Operating Expenses 157,521.00 139,375.00 133,654.00 121,633.00
   Selling, General and Administrative Expenses 104,432.00 91,403.00 85,194.00 76,388.00
   Research and Development Expenses 36,655.00 33,880.00 34,622.00 35,348.00
Operating Income 8,160.00 132,984.00 103,600.00 43,650.00
EBT 15,482.00 135,241.00 111,918.00 45,315.00
Income Tax 2,868.00 20,278.00 14,439.00 6,609.00
Net Income Including Non-Controlling Interests 12,614.00 114,963.00 97,479.00 38,706.00
Net Income 12,614.00 114,963.00 97,479.00 38,706.00
EBIT 15,482.00 135,241.00 111,918.00 45,434.00
Deprecation and Amortization 16,434.00 14,092.00 13,838.00 9,897.00
EBITDA 31,916.00 149,333.00 125,756.00 55,331.00
EPS 0.00 0.00 0.00 0.00
Diluted EPS 0.00 0.00 0.00 0.00
Average Shares Outstanding Basic 47,281.59 47,128.23 44,871.15 34,397.13
Average Shares Outstanding Diluted 49,555.78 50,073.99 48,071.64 37,829.72
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 6,939.00 155,463.00 122,119.00 71,106.00
   Operating Net Income 12,614.00 114,963.00 97,479.00 38,706.00
   Deprecation and Amortization 16,434.00 14,092.00 13,838.00 9,897.00
   Deferred Income Tax -2,109.00 -654.00 -1,428.00 -2,755.00
   Share Based Compensation 27,211.00 18,040.00 13,316.00 6,985.00
   Change in Working Capital -49,181.00 -3,207.00 9,562.00 17,662.00
   Other Operating Activities 1,970.00 12,229.00 -10,648.00 611.00
Investing Cash Flow 62,602.00 -133,354.00 -46,816.00 -243,470.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE -6,826.00 -784.00 -1,046.00 -532.00
   Net Purchase/Sale of Investments Net 69,428.00 -30,649.00 -36,200.00 -204,500.00
   Net Purchase/Sale of Business 0 -101,921.00 -9,570.00 -38,438.00
   Other Investing Activities 0 0 0 0
Financing Cash Flow -100,913.00 -10,823.00 -3,258.00 229,054.00
   Net Issuance/Repayment of Debt 0 0 0 -8,333.00
   Net Issuance/Repurchase of Equity -46,920.00 0 0 230,489.00
   Dividends Paid 0 0 0 0
   Other Financing Activities 0 -10,823.00 -3,258.00 6,898.00
Net Change in Cash -31,372.00 11,286.00 72,045.00 56,690.00
   Cash at Beginning of Period 188,948.00 177,521.00 105,535.00 48,878.00
   Cash at End of Period 157,362.00 188,948.00 177,521.00 105,535.00
Free Cash Flow 67.00 154,652.00 121,061.00 70,479.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Assets 915,555.00 907,184.00 878,270.00 915,526.00 892,466.00
   Current Assets 526,576.00 513,938.00 530,704.00 561,465.00 537,456.00
      Cash and Short-Term Investments 315,626.00 318,979.00 358,482.00 373,335.00 383,857.00
            Cash and Cash Equivalents 124,387.00 113,643.00 150,718.00 156,228.00 154,730.00
            Short-Term Investments 191,239.00 205,336.00 207,764.00 217,107.00 229,127.00
      Net Receivables 175,245.00 162,875.00 151,527.00 164,358.00 132,294.00
      Inventory 0 0 0 0 0
      Other Current Assets 35,705.00 32,084.00 20,695.00 23,772.00 21,305.00
   Non-Current Assets 388,979.00 393,246.00 347,566.00 354,061.00 355,010.00
      Property, Plant, Equipment Net 28,853.00 28,777.00 28,653.00 29,125.00 28,809.00
      Goodwill 0 0 0 247,086.00 0
      Intangible Assets 0 0 0 68,917.00 0
      Long-Term Investments 0 0 0 0 0
      Non-Current Deferred Assets 0 0 5,209.00 8,517.00 5,892.00
      Other Non-Current Assets 0 0 0 416.00 0
Liabilities 229,229.00 218,923.00 162,674.00 192,586.00 170,650.00
   Current Liabilities 168,413.00 161,837.00 133,779.00 161,850.00 138,608.00
      Payables and Expenses 159,568.00 153,608.00 127,181.00 153,693.00 128,576.00
            Account Payables 126,433.00 119,670.00 97,708.00 122,005.00 101,454.00
            Current Accrued Liabilities 33,135.00 33,938.00 29,473.00 31,688.00 27,122.00
      Short-Term Debt 2,566.00 3,211.00 3,445.00 3,648.00 4,230.00
      Other Current Liabilities 6,279.00 5,018.00 3,153.00 4,509.00 5,802.00
   Non-Current Liabilities 60,816.00 57,086.00 28,895.00 30,736.00 32,042.00
      Long-Term Debt 19,749.00 19,765.00 18,152.00 18,654.00 18,697.00
      Other Non-Current Liabilities 41,067.00 37,321.00 10,743.00 12,082.00 13,345.00
Equity 686,326.00 688,261.00 715,596.00 722,940.00 721,816.00
   Shareholders Equity 686,326.00 688,261.00 715,596.00 722,940.00 721,816.00
      Capital Stock 361.00 360.00 388.00 391.00 427.00
      Share Premium 505,225.00 502,539.00 528,255.00 527,149.00 559,869.00
      Retained Earnings 180,721.00 184,800.00 188,271.00 196,617.00 195,872.00
      Treasury Shares 1,002.00 1,002.00 1,002.00 1,002.00 34,533.00
      Accumulated Other Comprehensive Income 1,021.00 1,564.00 -316.00 -215.00 181.00
   Minority Interest 0 0 0 0 0
Debt 22,315.00 22,976.00 21,597.00 22,302.00 22,927.00
Common Shares Outstanding 40,427.76 0 45,037.18 44,825.05 47,307.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Revenues 110,461.00 102,981.00 89,342.00 129,577.00 102,198.00
Cost Of Revenue 73,291.00 68,409.00 62,022.00 87,172.00 66,097.00
Interest Income 2,367.00 3,583.00 3,407.00 3,657.00 5,399.00
Non-Interest Expense 28,580.00 28,699.00 27,101.00 23,482.00 27,061.00
Gross Profit 37,170.00 34,572.00 27,320.00 42,405.00 36,101.00
Operating Expenses 42,100.00 41,938.00 39,025.00 35,467.00 38,911.00
   Selling, General and Administrative Expenses 28,580.00 28,699.00 27,101.00 23,482.00 27,061.00
   Research and Development Expenses 8,581.00 8,945.00 8,452.00 8,461.00 8,271.00
Operating Income -4,930.00 -7,366.00 -11,705.00 6,938.00 -2,810.00
EBT -2,563.00 -3,783.00 -9,620.00 6,108.00 2,589.00
Income Tax 1,516.00 -312.00 -1,274.00 1,167.00 475.00
Net Income Including Non-Controlling Interests -4,079.00 -3,471.00 -8,346.00 4,941.00 2,114.00
Net Income -4,079.00 -3,471.00 -8,346.00 4,941.00 2,114.00
EBIT -4,930.00 -7,366.00 -11,705.00 14,260.00 -2,810.00
Deprecation and Amortization 4,939.00 4,294.00 3,472.00 3,524.00 3,579.00
EBITDA 9.00 -3,072.00 -8,233.00 17,784.00 769.00
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 41,469.46 42,032.86 44,866.93 45,216.00 46,935.93
Average Shares Outstanding Diluted 41,469.46 42,032.86 44,866.93 46,325.86 48,360.35
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Operating Cash Flow 5,885.00 21,292.00 -7,050.00 4,339.00 16,238.00
   Operating Net Income -4,079.00 -3,471.00 -8,346.00 4,941.00 2,114.00
   Deprecation and Amortization 4,939.00 4,294.00 3,472.00 3,524.00 3,579.00
   Deferred Income Tax 3,349.00 2,128.00 3,318.00 -408.00 134.00
   Share Based Compensation 10,174.00 7,494.00 7,587.00 9,886.00 6,220.00
   Change in Working Capital -7,664.00 12,001.00 -16,305.00 -5,150.00 3,059.00
   Other Operating Activities -834.00 -1,154.00 3,224.00 -8,454.00 1,132.00
Investing Cash Flow 12,810.00 -25,436.00 7,890.00 10,779.00 28,533.00
   Capital Expenditure -785.00 -413.00 0 0 0
   Net Purchase/Sale of PPE -654.00 -1,074.00 -1,698.00 -1,359.00 -4,336.00
   Net Purchase/Sale of Investments Net 14,249.00 2,617.00 9,588.00 12,138.00 32,869.00
   Net Purchase/Sale of Business 0 -26,566.00 0 0 0
   Other Investing Activities 0.00 0.00 0 0 0.00
Financing Cash Flow -7,940.00 -33,238.00 -6,484.00 -13,307.00 -36,218.00
   Net Issuance/Repayment of Debt -452.00 0 0 0 0
   Net Issuance/Repurchase of Equity -7,519.00 -33,257.00 -6,501.00 -13,389.00 -13,479.00
   Dividends Paid 0 0 0 0 0
   Other Financing Activities 31.00 0 0 0 -22,739.00
Net Change in Cash 10,755.00 -37,382.00 -5,644.00 1,811.00 8,553.00
   Cash at Beginning of Period 114,798.00 151,862.00 157,362.00 155,854.00 147,099.00
   Cash at End of Period 125,553.00 114,798.00 151,862.00 157,362.00 155,854.00
Free Cash Flow 4,446.00 19,805.00 -8,748.00 2,934.00 11,902.00