Valuation Ratios

Breakdown 2024-10-31 2023-10-31 2022-10-31 2021-10-31
Price to Earnings 10.75 8.96 8.28 14.43
Price to Sales 1.62 1.26 1.19 1.20
Book Value Per Common Share 18.09 15.90 13.68 13.72
Price to Book 1.26 1.15 1.19 0.95
Price to Operating Cash Flow 5.38 3.71 3.57 5.29
Price to Free Cash Flow 10.79 6.57 6.04 19.22
Enterprise Value to EBITDA 42770.73 32088.48 30873.91 40524.28
Breakdown 2025-07-31 2025-04-30 2025-02-02 2024-10-31 2024-07-31 2024-01-28 2023-10-31 2023-01-29 2022-10-31 2022-01-30 2021-10-31 2021-01-31
Price to Earnings 50.90 121.80 33.32 45.38 70.09 81.83 45.63 85.38
Price to Sales 5.61 5.26 6.73 7.44 8.56 5.43 5.50 4.56
Book Value Per Common Share 19.55 18.75 18.10 18.09 17.27 16.57 15.90 15.07 13.68 13.84 13.72 13.09
Price to Book 1.04 0.97 1.27 1.26 1.47 1.82 1.15 1.25 1.19 1.25 0.95 0.85
Price to Operating Cash Flow 23.56 35.31 18.19 20.92 44.63 41.40 17.64 26.38
Price to Free Cash Flow 46.78 -38.17 32.99 31.01 -1025.17 -335.47 26.11 79.23
Enterprise Value to EBITDA 203611.22 216558.81 146225.83 190510.13 249983.16 189434.55 164823.75 191134.84

Earnings Data

Breakdown 2024-10-31 2023-10-31 2022-10-31 2021-10-31
Earning YoY 3.41 4.59 117.78
Revenue YoY -2.82 8.19 24.22
EBITDA YoY -5.86 9.84 65.99
Net Profit YoY 4.15 5.64 114.23
Breakdown 2025-07-31 2025-04-30 2025-02-02 2024-10-31 2024-07-31 2024-01-28 2023-10-31 2023-01-29 2022-10-31 2022-01-30 2021-10-31 2021-01-31
Earning YoY 166.67 -78.26 23.21 30.23 86.96 -39.47 192.31
Revenue YoY -0.28 -0.54 0.55 -2.47 2.48 11.20 24.83
EBITDA YoY 16.26 -49.43 18.76 10.79 22.64 -4.73 76.15
Net Profit YoY 158.33 -79.32 24.61 31.35 87.19 -39.36 187.01

Financial Strength

Breakdown 2024-10-31 2023-10-31 2022-10-31 2021-10-31
Cash Per Common Share 10.38 8.38 5.92 4.51
Quick Ratio 4.58 3.82 2.87 2.56
Current Ratio 5.07 4.24 3.33 3.13
Debt to Equity -0.12 -0.14 -0.16 -0.18
Long-Term Debt to Equity -0.21 -0.25 -0.29 -0.30
Breakdown 2025-07-31 2025-04-30 2025-02-02 2024-10-31 2024-07-31 2024-01-28 2023-10-31 2023-01-29 2022-10-31 2022-01-30 2021-10-31 2021-01-31
Cash Per Common Share 9.94 9.19 10.34 10.34 9.81 8.49 8.35 6.14 5.90 5.22 4.61 4.46
Quick Ratio 4.38 4.52 5.11 4.58 4.22 3.91 3.82 2.98 2.87 2.54 2.56 2.87
Current Ratio 4.99 5.13 5.66 5.07 4.67 4.36 4.24 3.52 3.33 3.13 3.13 3.48
Debt to Equity 0.14 0.14 -0.11 -0.12 0.16 -0.13 -0.14 -0.15 -0.16 -0.18 -0.18 -0.17
Long-Term Debt to Equity 0.03 0.03 -0.19 -0.21 0.03 -0.23 -0.25 -0.27 -0.29 -0.30 -0.30 -0.27

Profitability

Breakdown 2024-10-31 2023-10-31 2022-10-31 2021-10-31
ROA 7.63 8.22 9.03 4.28
ROE 6.72 7.06 7.57 3.49
Gross Margin 36.44 37.68 35.68 25.17
Operating Margin 28.54 30.26 28.99 15.37
EBITDA Margin 38.09 39.32 38.73 28.99
Net Profit Margin 15.07 14.07 14.41 8.35
Breakdown 2025-07-31 2025-04-30 2025-02-02 2024-10-31 2024-07-31 2024-01-28 2023-10-31 2023-01-29 2022-10-31 2022-01-30 2021-10-31 2021-01-31
ROA 1.31 0.52 2.51 2.09 1.65 0.97 1.73 0.65
ROE 1.49 0.59 2.24 2.43 1.44 0.82 1.41 0.54
Gross Margin 33.68 36.92 35.61 35.61 36.64 36.04 31.54 20.08
Operating Margin 18.41 14.19 36.37 29.55 24.84 19.71 22.60 8.18
EBITDA Margin 27.37 23.47 46.17 39.09 34.41 28.76 33.56 23.79
Net Profit Margin 10.88 4.20 20.20 16.30 12.10 6.63 12.15 5.28

Dividends

Breakdown 2024-10-31 2023-10-31 2022-10-31 2021-10-31
Dividend Yield 0.00
Dividend Payout Ratio 17.31
Breakdown 2025-07-31 2025-04-30 2025-02-02 2024-10-31 2024-07-31 2024-01-28 2023-10-31 2023-01-29 2022-10-31 2022-01-30 2021-10-31 2021-01-31
Dividend Yield
Dividend Payout Ratio

Financial Statements

Breakdown 2024-10-31 2023-10-31 2022-10-31 2021-10-31
Assets 1,712,059.00 1,526,221.00 1,315,830.00 1,294,202.00
   Current Assets 931,062.00 785,450.00 644,652.00 550,616.00
      Cash and Short-Term Investments 640,669.00 512,207.00 358,500.00 276,670.00
            Cash and Cash Equivalents 598,485.00 499,292.00 319,680.00 276,670.00
            Short-Term Investments 42,184.00 12,915.00 38,820.00 0
      Net Receivables 200,830.00 194,927.00 198,147.00 174,447.00
      Inventory 56,527.00 49,963.00 50,753.00 55,249.00
      Other Current Assets 33,036.00 28,353.00 37,252.00 44,250.00
   Non-Current Assets 780,997.00 740,771.00 671,178.00 743,586.00
      Property, Plant, Equipment Net 750,267.00 715,433.00 647,214.00 702,134.00
      Goodwill 0 0 0 0
      Intangible Assets 0 0 0 774.00
      Long-Term Investments 0 0 0 0
      Non-Current Deferred Assets 23,059.00 21,297.00 19,816.00 24,353.00
      Other Non-Current Assets 7,671.00 4,041.00 4,148.00 16,325.00
Liabilities -231,300.00 -250,612.00 -253,741.00 -293,640.00
   Current Liabilities 183,811.00 185,223.00 193,797.00 176,148.00
      Payables and Expenses 165,839.00 178,602.00 183,773.00 153,900.00
            Account Payables 78,717.00 84,024.00 79,566.00 81,534.00
            Current Accrued Liabilities 87,122.00 94,578.00 104,207.00 72,366.00
      Short-Term Debt 17,972.00 6,621.00 10,024.00 22,248.00
      Other Current Liabilities 0.00 0.00 0.00 0.00
   Non-Current Liabilities -415,111.00 -435,835.00 -447,538.00 -469,788.00
      Long-Term Debt 25.00 17,998.00 32,310.00 89,446.00
      Other Non-Current Liabilities -415,136.00 -453,833.00 -479,848.00 -559,234.00
Equity 1,943,359.00 1,776,833.00 1,569,571.00 1,587,842.00
   Shareholders Equity 1,120,864.00 975,008.00 831,527.00 823,692.00
      Capital Stock 619.00 613.00 608.00 600.00
      Share Premium 514,757.00 502,010.00 493,741.00 484,672.00
      Retained Earnings 691,807.00 561,119.00 435,634.00 317,849.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income -86,319.00 -88,734.00 -98,456.00 20,571.00
   Minority Interest 359,895.00 300,601.00 230,562.00 176,870.00
Investments 42,184.00 12,915.00 38,820.00 0
Debt 17,997.00 24,619.00 42,334.00 111,694.00
Common Shares Outstanding 61,949.00 61,310.00 60,791.00 60,024.00
Breakdown 2024-10-31 2023-10-31 2022-10-31 2021-10-31
Revenues 866,946.00 892,076.00 824,549.00 663,761.00
Cost Of Revenue 551,000.00 555,914.00 530,336.00 496,717.00
Gross Profit 315,946.00 336,162.00 294,213.00 167,044.00
Operating Expenses 94,428.00 83,112.00 82,347.00 72,490.00
   Selling, General and Administrative Expenses 77,760.00 69,458.00 63,989.00 57,525.00
   Research and Development Expenses 16,576.00 13,654.00 18,341.00 18,490.00
   Other Operating Expenses 92.00 0.00 17.00 -3,525.00
Operating Income 221,518.00 253,050.00 211,866.00 94,554.00
Net Non-Operating Income 25,897.00 16,896.00 27,167.00 7,452.00
Interest Expense 0.00 0.00 0.00 0.00
EBT 247,415.00 269,946.00 239,033.00 102,006.00
Income Tax 63,567.00 70,312.00 59,791.00 23,190.00
Net Income Including Non-Controlling Interests 183,848.00 199,634.00 179,242.00 78,816.00
Net Income Non-Controlling Interests -53,160.00 -74,149.00 -60,456.00 -23,367.00
Net Income 130,688.00 125,485.00 118,786.00 55,449.00
EBIT 247,415.00 269,946.00 239,033.00 102,006.00
Deprecation and Amortization 82,805.00 80,835.00 80,330.00 90,396.00
EBITDA 330,220.00 350,781.00 319,363.00 192,402.00
EPS 0.00 0.00 0.00 0.00
Diluted EPS 0.00 0.00 0.00 0.00
Average Shares Outstanding Basic 61,726.00 61,139.00 60,559.00 61,407.00
Average Shares Outstanding Diluted 62,391.00 61,755.00 61,189.00 61,999.00
Breakdown 2024-10-31 2023-10-31 2022-10-31 2021-10-31
Operating Cash Flow 261,444.00 302,176.00 275,187.00 150,772.00
   Operating Net Income 183,848.00 199,634.00 179,242.00 78,816.00
   Deprecation and Amortization 82,805.00 80,835.00 80,330.00 90,396.00
   Deferred Income Tax -1,389.00 -927.00 809.00 -2,110.00
   Share Based Compensation 13,890.00 8,001.00 6,308.00 5,348.00
   Change in Working Capital -8,067.00 14,927.00 -52,068.00 -47,105.00
   Other Operating Activities -9,643.00 -294.00 60,566.00 25,427.00
Investing Cash Flow -156,465.00 -101,545.00 -147,757.00 -103,494.00
   Capital Expenditure -131,031.00 -131,412.00 -112,543.00 -109,269.00
   Net Purchase/Sale of PPE -131,031.00 -131,412.00 -112,543.00 -109,269.00
   Net Purchase/Sale of Investments Net 59.00 27,345.00 -38,829.00 0
   Net Purchase/Sale of Business 0 0 0 0
   Other Investing Activities 105,538.00 133,934.00 116,158.00 115,044.00
Financing Cash Flow -7,730.00 -18,493.00 -38,689.00 -53,903.00
   Net Issuance/Repayment of Debt -6,621.00 -18,439.00 -65,440.00 506.00
   Net Issuance/Repurchase of Equity 0 0 2,522.00 48,249.00
   Dividends Paid 0 0 0 -9,597.00
   Other Financing Activities -1,109.00 -54.00 24,229.00 -93,061.00
Net Change in Cash 99,376.00 179,458.00 42,729.00 -1,922.00
   Cash at Beginning of Period 501,867.00 322,409.00 279,680.00 281,602.00
   Cash at End of Period 601,243.00 501,867.00 322,409.00 279,680.00
Free Cash Flow 130,413.00 170,764.00 162,644.00 41,503.00
Breakdown 2025-07-31 2025-04-30 2025-02-02 2024-10-31 2024-07-31 2024-01-28 2023-10-31 2023-01-29 2022-10-31 2022-01-30 2021-10-31 2021-01-31
Assets 1,752,765.00 1,703,032.00 1,704,671.00 1,712,059.00 1,645,101.00 1,582,836.00 1,526,221.00 1,441,680.00 1,315,830.00 1,335,248.00 1,294,202.00 1,232,062.00
   Current Assets 872,236.00 855,806.00 920,834.00 931,062.00 892,640.00 807,677.00 785,450.00 700,816.00 644,652.00 597,779.00 550,616.00 506,112.00
      Cash and Short-Term Investments 575,798.00 558,407.00 642,200.00 640,669.00 606,377.00 521,514.00 512,207.00 373,991.00 358,500.00 314,195.00 276,670.00 278,539.00
            Cash and Cash Equivalents 479,521.00 530,708.00 642,200.00 598,485.00 537,331.00 508,518.00 499,292.00 334,792.00 319,680.00 314,195.00 276,670.00 278,539.00
            Short-Term Investments 96,277.00 27,699.00 0 42,184.00 69,046.00 12,996.00 12,915.00 39,199.00 38,820.00 0 0 0
      Net Receivables 190,875.00 195,977.00 188,438.00 200,830.00 199,926.00 203,607.00 194,927.00 220,692.00 198,147.00 170,673.00 174,447.00 139,708.00
      Inventory 63,490.00 61,201.00 57,583.00 56,527.00 55,472.00 50,680.00 49,963.00 52,796.00 50,753.00 61,971.00 55,249.00 56,407.00
      Other Current Assets 42,073.00 40,221.00 32,613.00 33,036.00 30,865.00 31,876.00 28,353.00 53,337.00 37,252.00 50,940.00 44,250.00 31,458.00
   Non-Current Assets 880,529.00 847,226.00 783,837.00 780,997.00 752,461.00 775,159.00 740,771.00 740,864.00 671,178.00 737,469.00 743,586.00 725,950.00
      Property, Plant, Equipment Net 838,988.00 807,558.00 749,809.00 750,267.00 722,638.00 742,671.00 715,433.00 710,927.00 647,214.00 697,266.00 702,134.00 672,398.00
      Goodwill 0 0 0 0 0 0 0 0 0 0 0 0
      Intangible Assets 0 0 0 0 0 0 0 0 0 0 774.00 2,383.00
      Long-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0
      Non-Current Deferred Assets 26,419.00 24,727.00 19,338.00 23,059.00 20,242.00 22,223.00 21,297.00 21,922.00 19,816.00 24,447.00 24,353.00 21,549.00
      Other Non-Current Assets 15,122.00 14,941.00 14,690.00 7,671.00 9,581.00 10,265.00 4,041.00 8,015.00 4,148.00 15,756.00 16,325.00 29,620.00
Liabilities 214,765.00 206,263.00 -210,462.00 -231,300.00 231,672.00 -235,782.00 -250,612.00 -258,960.00 -253,741.00 -296,082.00 -293,640.00 -253,566.00
   Current Liabilities 174,925.00 166,783.00 162,643.00 183,811.00 191,126.00 185,289.00 185,223.00 199,331.00 193,797.00 191,094.00 176,148.00 145,531.00
      Payables and Expenses 174,914.00 166,772.00 160,012.00 165,839.00 171,036.00 164,518.00 178,602.00 192,790.00 183,773.00 172,787.00 153,900.00 123,890.00
            Account Payables 100,351.00 89,484.00 85,936.00 78,717.00 89,013.00 86,925.00 84,024.00 84,818.00 79,566.00 94,914.00 81,534.00 70,870.00
            Current Accrued Liabilities 74,563.00 77,288.00 74,076.00 87,122.00 82,023.00 77,593.00 94,578.00 107,972.00 104,207.00 77,873.00 72,366.00 53,020.00
      Short-Term Debt 11.00 11.00 2,631.00 17,972.00 20,090.00 20,771.00 6,621.00 6,541.00 10,024.00 18,307.00 22,248.00 21,641.00
      Other Current Liabilities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
   Non-Current Liabilities 39,840.00 39,480.00 -373,105.00 -415,111.00 40,546.00 -421,071.00 -435,835.00 -458,291.00 -447,538.00 -487,176.00 -469,788.00 -399,097.00
      Long-Term Debt 16.00 19.00 21.00 25.00 28.00 2,655.00 17,998.00 27,323.00 32,310.00 78,540.00 89,446.00 79,984.00
      Other Non-Current Liabilities 39,824.00 39,461.00 -373,126.00 -415,136.00 40,518.00 -423,726.00 -453,833.00 -485,614.00 -479,848.00 -565,716.00 -559,234.00 -479,081.00
Equity 1,538,000.00 1,496,769.00 1,915,133.00 1,943,359.00 1,413,429.00 1,818,618.00 1,776,833.00 1,700,640.00 1,569,571.00 1,631,330.00 1,587,842.00 1,485,628.00
   Shareholders Equity 1,125,551.00 1,100,920.00 1,127,749.00 1,120,864.00 1,067,994.00 1,022,956.00 975,008.00 920,765.00 831,527.00 838,425.00 823,692.00 815,502.00
      Capital Stock 576.00 587.00 623.00 619.00 618.00 617.00 613.00 611.00 608.00 606.00 600.00 635.00
      Share Premium 483,081.00 489,205.00 515,742.00 514,757.00 509,918.00 502,903.00 502,010.00 494,954.00 493,741.00 487,342.00 484,672.00 508,974.00
      Retained Earnings 710,398.00 698,423.00 731,709.00 691,807.00 657,938.00 587,299.00 561,119.00 449,620.00 435,634.00 339,912.00 317,849.00 287,073.00
      Treasury Shares 0 0 0 0 0 0 0 0 0 0 0 -13,209.00
      Accumulated Other Comprehensive Income -68,504.00 -87,295.00 -120,325.00 -86,319.00 -100,480.00 -67,863.00 -88,734.00 -24,420.00 -98,456.00 10,565.00 20,571.00 32,029.00
   Minority Interest 412,449.00 395,849.00 366,460.00 359,895.00 345,435.00 324,098.00 300,601.00 261,955.00 230,562.00 200,741.00 176,870.00 162,994.00
Investments 0 0 0 42,184.00 0 12,996.00 12,915.00 39,199.00 38,820.00 0 0 0
Debt 27.00 30.00 2,652.00 17,997.00 20,118.00 23,426.00 24,619.00 33,864.00 42,334.00 96,847.00 111,694.00 101,625.00
Common Shares Outstanding 57,587.00 58,711.00 62,303.00 61,949.00 61,839.00 61,746.00 61,310.00 61,102.00 60,791.00 60,564.00 60,024.00 62,284.00
Breakdown 2025-07-31 2025-04-30 2025-02-02 2024-07-31 2024-01-28 2023-01-29 2022-01-30 2021-01-31
Revenues 210,394.00 210,992.00 212,138.00 210,984.00 216,334.00 211,090.00 189,827.00 152,067.00
Cost Of Revenue 139,539.00 133,086.00 136,603.00 135,846.00 137,079.00 135,013.00 129,964.00 121,538.00
Interest Income 4,830.00 5,329.00 0 6,135.00 0 0 0 0
Interest Expense 0 4.00 0.00 58.00 0.00 65.00 0.00 0.00
Non-Interest Expense 18,423.00 18,099.00 0 19,436.00 0 0 0 0
Gross Profit 70,855.00 77,906.00 75,535.00 75,138.00 79,255.00 76,077.00 59,863.00 30,529.00
Operating Expenses 22,694.00 22,189.00 23,358.00 22,990.00 21,766.00 20,120.00 21,666.00 18,763.00
   Selling, General and Administrative Expenses 18,423.00 18,099.00 19,101.00 19,436.00 18,321.00 16,818.00 15,727.00 14,053.00
   Research and Development Expenses 4,271.00 4,090.00 4,257.00 3,555.00 3,445.00 3,302.00 5,939.00 4,710.00
   Other Operating Expenses 0 0 0.00 -1.00 0.00 0.00 0.00 0.00
Operating Income 48,161.00 55,717.00 52,177.00 52,148.00 57,489.00 55,957.00 38,197.00 11,766.00
Net Non-Operating Income 0 0 24,981.00 0 -3,747.00 -14,425.00 4,707.00 680.00
EBT 38,733.00 29,931.00 77,158.00 62,293.00 53,742.00 41,532.00 42,904.00 12,446.00
Income Tax 9,594.00 5,714.00 18,901.00 14,124.00 14,660.00 12,582.00 11,178.00 2,937.00
Net Income Including Non-Controlling Interests 29,139.00 24,217.00 58,257.00 48,169.00 39,082.00 28,950.00 31,726.00 9,509.00
Net Income Non-Controlling Interests -6,248.00 -15,356.00 -15,406.00 -13,781.00 -12,902.00 -14,964.00 -8,662.00 -1,473.00
Net Income 22,891.00 8,861.00 42,851.00 34,388.00 26,180.00 13,986.00 23,064.00 8,036.00
EBIT 38,733.00 29,935.00 77,158.00 62,351.00 53,742.00 41,597.00 42,904.00 12,446.00
Deprecation and Amortization 18,848.00 19,594.00 20,792.00 20,126.00 20,702.00 19,105.00 20,810.00 23,724.00
EBITDA 57,581.00 49,529.00 97,950.00 82,477.00 74,444.00 60,702.00 63,714.00 36,170.00
EPS 0.00 0.00 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 0.00 0.00
Average Shares Outstanding Basic 57,937.00 60,793.00 62,093.00 61,815.00 61,455.00 60,894.00 60,158.00 62,475.00
Average Shares Outstanding Diluted 58,068.00 60,974.00 62,661.00 62,414.00 62,283.00 61,470.00 60,936.00 63,005.00
Breakdown 2025-07-31 2025-04-30 2025-02-02 2024-07-31 2024-01-28 2023-01-29 2022-01-30 2021-01-31
Operating Cash Flow 50,055.00 31,453.00 78,466.00 75,080.00 41,508.00 27,680.00 59,130.00 26,287.00
   Operating Net Income 29,139.00 24,217.00 58,257.00 48,169.00 39,082.00 28,950.00 31,726.00 9,509.00
   Deprecation and Amortization 18,848.00 19,594.00 20,792.00 20,126.00 20,702.00 19,105.00 20,810.00 23,724.00
   Deferred Income Tax 0 0 0 0 0 0 0 0
   Share Based Compensation 3,293.00 3,376.00 3,334.00 3,342.00 2,573.00 1,821.00 1,457.00 1,301.00
   Change in Working Capital -1,225.00 -15,734.00 4,814.00 3,443.00 -5,341.00 -18,920.00 -10,481.00 -740.00
   Other Operating Activities 0.00 0.00 -8,731.00 0.00 -15,508.00 -3,276.00 15,618.00 -7,507.00
Investing Cash Flow -92,752.00 -87,692.00 6,845.00 -27,354.00 -42,215.00 -30,170.00 -19,218.00 -17,196.00
   Capital Expenditure 0 0 -35,200.00 0 -43,314.00 -31,097.00 -19,175.00 -17,532.00
   Net Purchase/Sale of PPE -24,839.00 -60,549.00 -35,200.00 -24,422.00 -43,314.00 -31,097.00 -19,175.00 -17,532.00
   Net Purchase/Sale of Investments Net -68,216.00 -27,689.00 -57.00 -3,056.00 8.00 -87.00 -43.00 -61.00
   Net Purchase/Sale of Business 0 0 0 0 0 0 0 0
   Other Investing Activities 303.00 546.00 77,302.00 124.00 44,405.00 32,111.00 19,175.00 17,929.00
Financing Cash Flow -20,212.00 -74,594.00 -20,478.00 -1,701.00 -2,871.00 -9,714.00 -335.00 -14,350.00
   Net Issuance/Repayment of Debt -3.00 -2,623.00 -15,343.00 -1,656.00 -1,194.00 -9,218.00 -15,192.00 -1,591.00
   Net Issuance/Repurchase of Equity -20,740.00 -72,109.00 4,573.00 0 0 0 2,522.00 13,209.00
   Dividends Paid 0 0 0 0 0 0 0 0
   Other Financing Activities 531.00 138.00 -9,708.00 -45.00 -1,677.00 -496.00 12,335.00 -25,968.00
Net Change in Cash -62,909.00 -130,833.00 43,631.00 46,025.00 9,448.00 15,295.00 37,520.00 -64.00
   Cash at Beginning of Period 530,708.00 642,200.00 601,243.00 493,905.00 501,867.00 322,409.00 279,680.00 281,602.00
   Cash at End of Period 479,521.00 530,708.00 644,874.00 537,331.00 511,315.00 337,704.00 317,200.00 281,538.00
Free Cash Flow 25,216.00 -29,096.00 43,266.00 50,658.00 -1,806.00 -3,417.00 39,955.00 8,755.00