Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 4.32 1.23 4.08 -1.33
Price to Sales 0.80 0.98 0.88 0.68
Book Value Per Common Share 8.85 9.16 5.78 4.60
Price to Book 0.44 0.46 0.83 0.42
Price to Operating Cash Flow 2.19 2.08 6.18 -19.28
Price to Free Cash Flow -1.57 -4.22 10.84 -0.39
Enterprise Value to EBITDA 16158.74 9179.82 21644.39
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings 25.64 -14.74 48.43 -17.09 14.56
Price to Sales 3.03 3.19 3.68 3.45 3.79
Book Value Per Common Share 8.90 8.77 8.96 8.85 9.69
Price to Book 0.32 0.32 0.38 0.44 0.51
Price to Operating Cash Flow 8.10 8.91 8.26 6.60 27.92
Price to Free Cash Flow 8.82 9.53 8.55 6.78 27.92
Enterprise Value to EBITDA 65443.09 203072.97 92173.52 122034.38 71830.33

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY -73.08 186.44
Revenue YoY 13.36 -22.07 130.24
EBITDA YoY -46.40 102.58
Net Profit YoY -73.43 189.65
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY
Revenue YoY 6.00 -4.73 -20.19 -12.74
EBITDA YoY 212.52 -62.51 13.47 -52.84
Net Profit YoY

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 3.63 5.10 0.71 0.69
Quick Ratio 3.55 5.92 1.48 0.35
Current Ratio 3.76 6.04 1.68 0.84
Debt to Equity 0.90 0.65 1.26 1.92
Long-Term Debt to Equity 0.77 0.55 1.06 1.45
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 4.12 3.98 3.86 3.62 4.01
Quick Ratio 3.37 2.90 3.25 3.55 4.56
Current Ratio 3.43 3.02 3.40 3.76 4.71
Debt to Equity 0.85 0.90 0.89 0.90 0.84
Long-Term Debt to Equity 0.72 0.75 0.75 0.77 0.73

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 5.10 21.78 9.00 -9.04
ROE 9.66 35.92 20.38 -26.39
Gross Margin 42.19 48.36 38.40 -6.31
Operating Margin 36.41 93.23 30.06 -37.00
EBITDA Margin 49.80 105.33 40.52 -17.67
Net Profit Margin 18.67 79.68 21.44 -50.88
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA 0.65 -1.07 0.41 -1.27 1.80
ROE 1.20 -2.04 0.77 -2.41 3.31
Gross Margin 36.67 38.37 30.79 21.22 43.51
Operating Margin 26.89 -4.84 20.76 12.42 38.45
EBITDA Margin 46.59 15.80 40.16 28.24 52.26
Net Profit Margin 12.32 -21.89 7.98 -19.94 25.85

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Dividend Yield 0.00 0.00 0.00 0.00
Dividend Payout Ratio 83.96 2.20 6.96 -4.17
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Dividend Yield 0.00 0.00
Dividend Payout Ratio -2.04 4.12

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 188,881.00 166,313.00 138,979.00 142,562.00
   Current Assets 46,123.00 60,880.00 21,131.00 19,102.00
      Cash and Short-Term Investments 38,243.00 54,539.00 7,563.00 6,180.00
            Cash and Cash Equivalents 21,243.00 34,539.00 7,563.00 6,180.00
            Short-Term Investments 17,000.00 20,000.00 0 0
      Net Receivables 5,285.00 5,158.00 11,077.00 1,716.00
      Inventory 1,889.00 957.00 1,911.00 1,567.00
      Other Current Assets 706.00 226.00 580.00 9,639.00
   Non-Current Assets 142,758.00 105,433.00 117,848.00 123,460.00
      Property, Plant, Equipment Net 140,194.00 101,936.00 114,185.00 119,724.00
      Goodwill 0 0 0 0
      Intangible Assets 0 0 0 0
      Long-Term Investments 0 0 0 0
      Non-Current Deferred Assets 1,214.00 1,622.00 794.00 912.00
      Other Non-Current Assets 1,350.00 1,875.00 2,869.00 2,824.00
Liabilities 89,217.00 65,454.00 77,608.00 93,710.00
   Current Liabilities 12,254.00 10,084.00 12,561.00 22,830.00
      Payables and Expenses 4,582.00 3,331.00 4,599.00 11,135.00
            Account Payables 2,107.00 1,695.00 2,604.00 3,084.00
            Current Accrued Liabilities 1,502.00 646.00 967.00 1,089.00
      Short-Term Debt 7,561.00 5,580.00 5,829.00 11,695.00
      Other Current Liabilities 111.00 1,173.00 2,133.00 0.00
   Non-Current Liabilities 76,963.00 55,370.00 65,047.00 70,880.00
      Long-Term Debt 76,963.00 55,370.00 65,047.00 70,880.00
      Other Non-Current Liabilities 0.00 0.00 0.00 0.00
Equity 99,664.00 100,859.00 61,371.00 48,852.00
   Shareholders Equity 93,376.00 96,540.00 61,371.00 48,852.00
      Capital Stock 11.00 11.00 11.00 11.00
      Share Premium 98,035.00 110,799.00 111,869.00 111,871.00
      Retained Earnings -4,670.00 -14,270.00 -50,509.00 -63,030.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income 0 0 0 0
   Minority Interest 6,288.00 4,319.00 0 0
Debt 84,524.00 60,950.00 70,876.00 82,575.00
Net Debt 63,281.00 26,411.00 63,313.00 76,395.00
Common Shares Outstanding 10,553.40 10,542.55 10,614.32 10,613.96
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 51,542.00 45,468.00 58,344.00 25,341.00
Cost Of Revenue 29,798.00 23,478.00 35,938.00 26,941.00
Interest Income 2,312.00 1,240.00 0 0
Interest Expense 6,259.00 5,552.00 4,148.00 2,963.00
Non-Interest Expense 2,996.00 3,448.00 2,508.00 2,538.00
Gross Profit 21,744.00 21,990.00 22,406.00 -1,600.00
Operating Expenses 5,020.00 5,246.00 4,628.00 4,523.00
   Selling, General and Administrative Expenses 2,996.00 3,448.00 2,508.00 2,538.00
   Other Operating Expenses 2,062.00 1,876.00 2,002.00 1,974.00
Operating Income 16,724.00 16,744.00 17,778.00 -6,123.00
EBT 12,507.00 36,836.00 13,392.00 -12,338.00
Income Tax 0 0 0 0
Net Income Including Non-Controlling Interests 12,507.00 36,836.00 13,392.00 -12,338.00
Net Income Non-Controlling Interests 361.00 201.00 0 0
Net Income 9,624.00 36,227.00 12,507.00 -12,893.00
EBIT 18,766.00 42,388.00 17,540.00 -9,375.00
Deprecation and Amortization 6,904.00 5,503.00 6,100.00 4,898.00
EBITDA 25,670.00 47,891.00 23,640.00 -4,477.00
EPS 0.00 0.00 0.00 -0.00
Diluted EPS 0.00 0.00 0.00 -0.00
Average Shares Outstanding Basic 10,524.51 10,701.06 10,613.67 8,994.77
Average Shares Outstanding Diluted 10,524.51 12,585.78 12,640.58 8,994.77
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 18,846.00 21,442.00 8,274.00 -896.00
   Operating Net Income 12,507.00 36,836.00 13,392.00 -12,338.00
   Deprecation and Amortization 6,904.00 5,503.00 6,100.00 4,898.00
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 0 0 0 0
   Change in Working Capital -1,109.00 4,441.00 -10,983.00 2,895.00
   Other Operating Activities 544.00 -25,338.00 -235.00 3,649.00
Investing Cash Flow -42,163.00 12,205.00 4,953.00 -43,194.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE -45,163.00 32,205.00 4,953.00 -43,194.00
   Net Purchase/Sale of Investments Net 3,000.00 -20,000.00 0 0
   Net Purchase/Sale of Business 0 0 0 0
   Other Investing Activities 0.00 0.00 0.00 0.00
Financing Cash Flow 9,571.00 -7,497.00 -12,912.00 49,927.00
   Net Issuance/Repayment of Debt 23,693.00 -10,260.00 -12,030.00 22,520.00
   Net Issuance/Repurchase of Equity -11,565.00 -1,244.00 0 31,372.00
   Dividends Paid -8,080.00 -797.00 -871.00 -537.00
   Other Financing Activities 5,523.00 4,804.00 -11.00 -3,428.00
Net Change in Cash -13,746.00 26,150.00 315.00 5,837.00
   Cash at Beginning of Period 36,339.00 10,189.00 9,874.00 4,037.00
   Cash at End of Period 22,593.00 36,339.00 10,189.00 9,874.00
Free Cash Flow -26,317.00 -10,566.00 4,718.00 -44,090.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Assets 183,758.00 186,593.00 188,934.00 188,881.00 197,976.00
   Current Assets 44,948.00 46,085.00 47,220.00 46,123.00 53,338.00
      Cash and Short-Term Investments 42,903.00 41,445.00 40,193.00 38,243.00 42,365.00
            Cash and Cash Equivalents 28,903.00 27,445.00 23,193.00 21,243.00 25,365.00
            Short-Term Investments 14,000.00 14,000.00 17,000.00 17,000.00 17,000.00
      Net Receivables 1,277.00 2,813.00 4,981.00 5,285.00 9,332.00
      Inventory 542.00 1,434.00 1,285.00 1,889.00 1,020.00
      Other Current Assets 226.00 393.00 761.00 706.00 621.00
   Non-Current Assets 138,810.00 140,508.00 141,714.00 142,758.00 144,638.00
      Property, Plant, Equipment Net 135,182.00 136,728.00 138,493.00 140,194.00 141,929.00
      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 2,278.00 2,430.00 1,871.00 1,214.00 1,334.00
      Other Non-Current Assets 1,350.00 1,350.00 1,350.00 1,350.00 1,375.00
Liabilities 84,372.00 88,450.00 88,952.00 89,217.00 90,185.00
   Current Liabilities 13,096.00 15,277.00 13,884.00 12,254.00 11,330.00
      Payables and Expenses 3,431.00 6,403.00 5,602.00 4,582.00 3,775.00
            Account Payables 1,741.00 2,057.00 2,760.00 2,107.00 1,531.00
            Current Accrued Liabilities 1,236.00 1,245.00 1,555.00 1,502.00 1,124.00
      Short-Term Debt 7,578.00 7,572.00 7,569.00 7,561.00 7,555.00
      Other Current Liabilities 2,087.00 1,302.00 713.00 111.00 0.00
   Non-Current Liabilities 71,276.00 73,173.00 75,068.00 76,963.00 78,855.00
      Long-Term Debt 71,276.00 73,173.00 75,068.00 76,963.00 78,855.00
      Other Non-Current Liabilities 0.00 0.00 0.00 0.00 0.00
Equity 99,386.00 98,143.00 99,982.00 99,664.00 107,791.00
   Shareholders Equity 93,279.00 92,011.00 93,943.00 93,376.00 101,323.00
      Capital Stock 11.00 11.00 11.00 11.00 11.00
      Share Premium 97,980.00 97,907.00 97,836.00 98,035.00 103,565.00
      Retained Earnings -4,712.00 -5,907.00 -3,904.00 -4,670.00 -2,253.00
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income 0 0 0 0 0
   Minority Interest 6,107.00 6,132.00 6,039.00 6,288.00 6,468.00
Debt 78,854.00 80,745.00 82,637.00 84,524.00 86,410.00
Net Debt 49,951.00 53,300.00 59,444.00 63,281.00 61,045.00
Common Shares Outstanding 10,485.86 10,485.86 10,485.86 10,553.40 10,458.77
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Revenues 9,700.00 9,151.00 9,605.00 12,035.00 13,792.00
Cost Of Revenue 6,143.00 5,640.00 6,648.00 9,481.00 7,791.00
Interest Income 476.00 423.00 434.00 483.00 568.00
Interest Expense 1,438.00 1,467.00 1,477.00 1,361.00 1,825.00
Non-Interest Expense 788.00 3,740.00 833.00 755.00 695.00
Gross Profit 3,557.00 3,511.00 2,957.00 2,554.00 6,001.00
Operating Expenses 1,425.00 4,377.00 1,397.00 1,272.00 1,266.00
   Selling, General and Administrative Expenses 788.00 3,740.00 833.00 755.00 695.00
   Other Operating Expenses 644.00 637.00 564.00 555.00 571.00
Operating Income 2,132.00 -866.00 1,560.00 1,282.00 4,735.00
EBT 1,170.00 -1,910.00 517.00 134.00 3,478.00
Income Tax 0 0 0 0 0
Net Income Including Non-Controlling Interests 1,170.00 -1,910.00 517.00 134.00 3,478.00
Net Income Non-Controlling Interests 25.00 -93.00 249.00 180.00 234.00
Net Income 1,195.00 -2,003.00 766.00 -2,400.00 3,565.00
EBIT 2,608.00 -443.00 1,994.00 1,495.00 5,303.00
Deprecation and Amortization 1,911.00 1,889.00 1,863.00 1,904.00 1,905.00
EBITDA 4,519.00 1,446.00 3,857.00 3,399.00 7,208.00
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 10,413.36 10,413.36 10,422.51 10,565.13 10,572.03
Average Shares Outstanding Diluted 10,485.86 10,413.36 10,422.51 10,565.13 11,927.52
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Operating Cash Flow 3,625.00 3,272.00 4,279.00 6,293.00 1,874.00
   Operating Net Income 1,170.00 -1,910.00 517.00 134.00 3,478.00
   Deprecation and Amortization 1,911.00 1,889.00 1,863.00 1,904.00 1,905.00
   Deferred Income Tax 0 0 0 0 0
   Share Based Compensation 0 0 0 0 0
   Change in Working Capital 569.00 3,726.00 1,965.00 4,202.00 -3,679.00
   Other Operating Activities -25.00 -433.00 -66.00 53.00 170.00
Investing Cash Flow -220.00 2,927.00 -112.00 -170.00 0
   Capital Expenditure 0 0 0 0 0
   Net Purchase/Sale of PPE -465.00 -73.00 -112.00 -170.00 0
   Net Purchase/Sale of Investments Net 0 3,000.00 0 0 0
   Net Purchase/Sale of Business 0 0 0 0 0
   Other Investing Activities 245.00 0.00 0.00 0.00 0
Financing Cash Flow -1,947.00 -1,947.00 -2,217.00 -10,245.00 -2,720.00
   Net Issuance/Repayment of Debt -1,947.00 -1,946.00 -1,947.00 -1,947.00 -2,047.00
   Net Issuance/Repurchase of Equity 0 0 0 -8,249.00 -436.00
   Dividends Paid 0 0 0 -49.00 -147.00
   Other Financing Activities 0.00 0 0 0.00 -90.00
Net Change in Cash 1,458.00 4,252.00 1,950.00 -4,122.00 -846.00
   Cash at Beginning of Period 28,795.00 24,543.00 22,593.00 26,715.00 27,561.00
   Cash at End of Period 30,253.00 28,795.00 24,543.00 22,593.00 26,715.00
Free Cash Flow 3,330.00 3,061.00 4,135.00 6,123.00 1,874.00