Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings 13.29 11.06 395.20 26.75 37.92
Price to Sales 5.05 5.34 7.74 7.22 8.85
Book Value Per Common Share
Price to Book
Price to Operating Cash Flow 4.13 4.21 8.07 8.19 9.24
Price to Free Cash Flow
Enterprise Value to EBITDA
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Price to Earnings 52.55 519.16 56.60 23.20 3037.00 47.41 324.67 242.33
Price to Sales 24.84 26.92 23.86 22.35 23.99 23.47 30.08 29.67
Book Value Per Common Share 14.95 14.68 15.40
Price to Book 2.36 2.45 1.84
Price to Operating Cash Flow 21.54 42.79 22.74 17.93 20.50 15.53 36.73 32.32
Price to Free Cash Flow 21.54 42.79 17.93
Enterprise Value to EBITDA 288291.17 977758.62 144570.05

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Earning YoY -24.41 2440.00 -93.29 12.88
Revenue YoY -3.86 5.24 -2.28 7.87
EBITDA YoY
Net Profit YoY -24.31 2549.50 -93.09 -36.44
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Earning YoY 867.29 -87.38 -54.90 12096.00 -98.68 533.33 -33.33
Revenue YoY 5.29 1.83 0.63 -0.58 -16.96 21.69 -1.92
EBITDA YoY 229.59
Net Profit YoY 855.12 -87.34 -56.18 11285.24 -98.60 558.32 -25.11

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Cash Per Common Share 2.20 1.11 3.96 5.28 5.49
Quick Ratio 1.41 7.65 2.08 16.37 8.60
Current Ratio 1.44 7.90 2.19 16.81 8.76
Debt to Equity 0.76 0.62 0.77 0.71 0.62
Long-Term Debt to Equity 0.64 0.61 0.64 0.69 0.59
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Cash Per Common Share 4.23 3.44 2.53 3.96 1.94 4.44 5.39 4.74
Quick Ratio 3.47 1.26 1.54 1.53 12.30 2.32 21.43 9.26
Current Ratio 3.48 1.26 1.56 1.54 12.52 2.36 21.95 9.44
Debt to Equity 1.01 0.93 0.80 0.76 0.64 0.74 0.71 0.62
Long-Term Debt to Equity 0.96 0.80 0.68 0.64 0.62 0.62 0.70 0.59

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA 4.71 6.93 0.25 3.54 6.09
ROE 8.31 11.25 0.45 6.05 9.85
Gross Margin 67.64 76.19 59.58 99.44 92.64
Operating Margin 68.76 80.15 18.69 61.47 87.59
EBITDA Margin
Net Profit Margin 37.95 48.20 1.91 27.07 45.94
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
ROA 1.49 0.16 1.35 3.02 0.03 2.00 0.30 0.43
ROE 3.00 0.32 2.44 5.30 0.05 3.47 0.51 0.70
Gross Margin 77.63 -2.75 82.63 91.18 93.73
Operating Margin 85.96 27.53 87.76 154.57 7.04 81.30 31.16 34.27
EBITDA Margin 86.17 27.53 154.57
Net Profit Margin 47.30 5.21 41.94 96.33 0.84 49.82 9.21 12.06

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Dividend Yield
Dividend Payout Ratio
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Dividend Yield 0.00 0.00 0.00
Dividend Payout Ratio 33.07 308.99 17.29

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Assets 18,222,715.00 16,381,851.00 16,813,466.00 17,515,865.00 16,020,286.00
   Current Assets 1,802,139.00 1,274,193.00 2,554,908.00 2,878,211.00 2,696,898.00
      Cash and Short-Term Investments 987,226.00 495,310.00 1,736,472.00 2,188,920.00 2,061,943.00
            Cash and Cash Equivalents 929,026.00 477,010.00 1,710,751.00 1,541,048.00 1,008,680.00
            Short-Term Investments 58,200.00 18,300.00 25,721.00 647,872.00 1,053,263.00
      Net Receivables 783,770.00 738,438.00 691,319.00 614,351.00 587,193.00
      Inventory 0 0 0 0 0
      Other Current Assets 31,143.00 40,445.00 127,117.00 74,940.00 47,762.00
   Non-Current Assets 16,420,576.00 15,107,658.00 14,258,558.00 14,637,654.00 13,323,388.00
      Property, Plant, Equipment Net 0 0 0 0 0
      Goodwill 0 0 0 0 0
      Intangible Assets 0 0 0 5,670.00 28,666.00
      Long-Term Investments 16,387,042.00 15,101,136.00 14,228,929.00 14,627,839.00 12,967,436.00
      Non-Current Deferred Assets 0 0 0 0 0
      Other Non-Current Assets 33,534.00 6,522.00 29,629.00 4,145.00 327,286.00
Liabilities 7,880,349.00 6,297,562.00 7,288,093.00 7,267,320.00 6,124,471.00
   Current Liabilities 1,253,616.00 161,377.00 1,166,783.00 171,250.00 307,887.00
      Payables and Expenses 13,370.00 15,165.00 7,906.00 5,620.00 10,775.00
            Account Payables 98,062.00 51,682.00 54,162.00 57,696.00 42,146.00
            Current Accrued Liabilities 0 0 0 0 0
      Short-Term Debt 997,773.00 0 997,512.00 0 0
      Other Current Liabilities 242,473.00 146,212.00 161,365.00 165,630.00 297,112.00
   Non-Current Liabilities 6,626,733.00 6,136,185.00 6,121,310.00 7,096,070.00 5,816,584.00
      Long-Term Debt 6,614,653.00 6,135,285.00 6,118,810.00 7,096,070.00 5,816,584.00
      Other Non-Current Liabilities 12,080.00 900.00 2,500.00 0.00 0.00
Equity 10,342,366.00 10,084,289.00 9,525,373.00 10,248,545.00 9,895,815.00
   Shareholders Equity 0 0 0 0 0
      Capital Stock 0 0 63.00 43.00 39.00
      Share Premium 4,103,482.00 4,011,435.00 3,666,160.00 3,507,533.00 2,865,964.00
      Retained Earnings 2,845,653.00 2,517,583.00 1,964,689.00 2,255,179.00 1,920,635.00
      Treasury Shares -2,662.00 -2,629.00 -2,806.00 -2,715.00 -2,317.00
      Accumulated Other Comprehensive Income 0 0 0 16,491.00 34,395.00
   Minority Interest 3,395,785.00 3,557,792.00 3,897,223.00 4,471,951.00 5,077,036.00
Investments 16,445,242.00 15,119,436.00 14,254,650.00 15,275,711.00 14,020,699.00
Debt 7,612,426.00 6,135,285.00 7,116,322.00 7,096,070.00 5,816,584.00
Net Debt 6,625,200.00 5,639,975.00 5,379,850.00 4,907,150.00 3,754,641.00
Common Shares Outstanding 0 0 0 0 0
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Revenues 2,263,576.00 2,354,554.00 2,237,215.00 2,289,463.00 2,122,353.00
Cost Of Revenue 732,461.00 560,656.00 904,244.00 12,913.00 156,186.00
Interest Expense 225,512.00 187,187.00 187,961.00 166,142.00 157,059.00
Provisions for Credit Losses 100,415.00 22,285.00 -193,798.00 -12,913.00 156,186.00
Gross Profit 1,531,115.00 1,793,898.00 1,332,971.00 2,276,550.00 1,966,167.00
Operating Expenses 238,671.00 301,748.00 1,025,906.00 845,835.00 370,768.00
   Selling, General and Administrative Expenses 236,671.00 249,748.00 227,303.00 182,826.00 181,715.00
   Research and Development Expenses 2,000.00 102,000.00 352,106.00 296,984.00 44,789.00
   Other Operating Expenses 0.00 -50,000.00 446,497.00 366,025.00 144,264.00
Operating Income 1,292,444.00 1,492,150.00 307,065.00 1,430,715.00 1,595,399.00
Net Non-Operating Income 38,369.00 207,938.00 -77,001.00 -189,514.00 106,555.00
EBT 1,330,813.00 1,700,088.00 230,064.00 1,241,201.00 1,701,954.00
Income Tax 0.00 0.00 0.00 0.00 0.00
Equity Method Investments Income 59,211.00 -57,782.00 17,973.00 38,990.00 -88,859.00
Net Income Including Non-Controlling Interests 1,802,643.00 2,265,342.00 417,296.00 1,862,674.00 2,428,868.00
Net Income Non-Controlling Interests -943,660.00 -1,130,508.00 -374,464.00 -1,242,946.00 -1,453,828.00
Net Income 858,983.00 1,134,834.00 42,832.00 619,728.00 975,040.00
EBIT 1,556,325.00 1,887,275.00 418,025.00 1,407,343.00 1,859,013.00
Deprecation and Amortization 0.00 0.00 0.00 0.00 0.00
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 448,185.00 447,601.00 437,963.00 414,794.00 375,444.00
Average Shares Outstanding Diluted 594,108.00 602,900.00 437,972.00 1,021,978.00 982,566.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow 2,768,986.00 2,987,802.00 2,143,980.00 2,017,536.00 2,034,629.00
   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 2,344.00 2,357.00 2,170.00 2,443.00 5,428.00
   Change in Working Capital 46,380.00 6,236.00 -3,534.00 15,550.00 -1,959,975.00
   Other Operating Activities 2,720,262.00 2,979,209.00 2,145,344.00 1,999,543.00 3,989,176.00
Investing Cash Flow -2,678,115.00 -2,072,789.00 -1,029,421.00 -1,870,280.00 -2,759,320.00
   Capital Expenditure 0.00 0.00 0.00 0.00 0.00
   Net Purchase/Sale of PPE 0 0 0 0 0
   Net Purchase/Sale of Investments Net -146,175.00 23,793.00 598,742.00 393,331.00 -886,843.00
   Net Purchase/Sale of Business -10,955.00 -12,542.00 -9,896.00 -34,855.00 -40,155.00
   Other Investing Activities -2,520,985.00 -2,084,040.00 -1,618,267.00 -2,228,756.00 -1,832,322.00
Financing Cash Flow 361,145.00 -2,148,754.00 -944,856.00 385,112.00 1,487,172.00
   Net Issuance/Repayment of Debt 1,471,235.00 -1,000,000.00 0 1,272,533.00 774,834.00
   Net Issuance/Repurchase of Equity 229,651.00 304,759.00 0 0 1,908,744.00
   Dividends Paid 0 0 0 0 0
   Other Financing Activities -1,339,741.00 -1,453,513.00 -944,856.00 -887,421.00 -1,196,406.00
Net Change in Cash 452,016.00 -1,233,741.00 169,703.00 532,368.00 762,481.00
   Cash at Beginning of Period 477,010.00 1,710,751.00 1,541,048.00 1,008,680.00 246,199.00
   Cash at End of Period 929,026.00 477,010.00 1,710,751.00 1,541,048.00 1,008,680.00
Free Cash Flow 0 0 0 0 0
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Assets 19,347,280.00 18,323,000.00 17,608,256.00 18,222,715.00 18,042,242.00 16,130,886.00 16,381,851.00 17,074,121.00 16,813,466.00 17,378,888.00 17,515,865.00 15,914,088.00 16,020,286.00
   Current Assets 1,849,537.00 1,520,241.00 1,843,243.00 1,802,139.00 1,794,195.00 1,559,719.00 1,274,193.00 2,631,221.00 2,554,908.00 2,982,418.00 2,878,211.00 2,416,024.00 2,696,898.00
      Cash and Short-Term Investments 1,815,117.00 1,488,046.00 1,099,820.00 987,226.00 1,764,325.00 872,000.00 495,310.00 1,978,189.00 1,736,472.00 2,340,538.00 2,188,920.00 1,846,984.00 2,061,943.00
            Cash and Cash Equivalents 938,944.00 631,908.00 1,087,720.00 929,026.00 950,052.00 843,000.00 477,010.00 1,975,689.00 1,710,751.00 1,791,517.00 1,541,048.00 708,810.00 1,008,680.00
            Short-Term Investments 876,173.00 856,138.00 12,100.00 58,200.00 814,273.00 29,000.00 18,300.00 2,500.00 25,721.00 549,021.00 647,872.00 1,138,174.00 1,053,263.00
      Net Receivables 28,901.00 27,743.00 716,559.00 783,770.00 24,901.00 660,482.00 738,438.00 610,022.00 691,319.00 570,684.00 614,351.00 522,388.00 587,193.00
      Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Current Assets 5,519.00 4,452.00 26,864.00 31,143.00 4,969.00 27,237.00 40,445.00 43,010.00 127,117.00 71,196.00 74,940.00 46,652.00 47,762.00
   Non-Current Assets 17,497,743.00 16,802,759.00 15,765,013.00 16,420,576.00 16,248,047.00 14,571,167.00 15,107,658.00 14,442,900.00 14,258,558.00 14,396,470.00 14,637,654.00 13,498,064.00 13,323,388.00
      Property, Plant, Equipment Net 0 0 0 0 0 0 0 0 0 0 0 0 0
      Goodwill 924,634.00 924,634.00 0 0 0 0 0 0 0 0 0 0 0
      Intangible Assets 0 0 0 0 0 0 0 0 0 0 5,670.00 22,995.00 28,666.00
      Long-Term Investments 16,486,524.00 15,792,634.00 15,728,306.00 16,387,042.00 16,205,258.00 14,566,679.00 15,101,136.00 14,414,870.00 14,228,929.00 14,392,600.00 14,627,839.00 13,223,426.00 12,967,436.00
      Non-Current Deferred Assets 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Non-Current Assets 86,585.00 85,491.00 36,707.00 33,534.00 0 4,488.00 6,522.00 28,030.00 29,629.00 3,870.00 4,145.00 251,643.00 327,286.00
Liabilities 9,726,419.00 8,820,060.00 7,819,599.00 7,880,349.00 7,783,775.00 6,267,170.00 6,297,562.00 7,252,121.00 7,288,093.00 7,237,009.00 7,267,320.00 6,077,055.00 6,124,471.00
   Current Liabilities 530,802.00 1,206,526.00 1,182,852.00 1,253,616.00 1,167,758.00 124,574.00 161,377.00 1,116,879.00 1,166,783.00 135,871.00 171,250.00 255,983.00 307,887.00
      Payables and Expenses 147,681.00 204,015.00 37,630.00 13,370.00 139,616.00 11,551.00 15,165.00 6,657.00 7,906.00 6,662.00 5,620.00 8,272.00 10,775.00
            Account Payables 41,415.00 20,209.00 19,221.00 98,062.00 22,055.00 12,595.00 51,682.00 13,199.00 54,162.00 13,199.00 57,696.00 10,271.00 42,146.00
            Current Accrued Liabilities 29,044.00 85,609.00 0 0 38,412.00 0 0 0 0 0 0 0 0
      Short-Term Debt 380,000.00 999,436.00 998,605.00 997,773.00 996,942.00 0 0 998,441.00 997,512.00 0 0 0 0
      Other Current Liabilities 3,121.00 3,075.00 146,617.00 242,473.00 31,200.00 113,023.00 146,212.00 111,781.00 161,365.00 129,209.00 165,630.00 247,711.00 297,112.00
   Non-Current Liabilities 9,195,617.00 7,613,534.00 6,636,747.00 6,626,733.00 6,616,017.00 6,142,596.00 6,136,185.00 6,135,242.00 6,121,310.00 7,101,138.00 7,096,070.00 5,821,072.00 5,816,584.00
      Long-Term Debt 8,565,735.00 7,003,063.00 6,618,847.00 6,614,653.00 6,610,437.00 6,139,376.00 6,135,285.00 6,122,942.00 6,118,810.00 7,101,138.00 7,096,070.00 5,821,072.00 5,816,584.00
      Other Non-Current Liabilities 629,882.00 610,471.00 17,900.00 12,080.00 5,580.00 3,220.00 900.00 12,300.00 2,500.00 0.00 0.00 0.00 0.00
Equity 9,620,861.00 9,502,940.00 9,788,657.00 10,342,366.00 10,258,467.00 9,863,716.00 10,084,289.00 9,822,000.00 9,525,373.00 10,141,879.00 10,248,545.00 9,837,033.00 9,895,815.00
   Shareholders Equity 6,414,348.00 6,347,910.00 0 0 6,869,878.00 0 0 0 0 0 0 0 0
      Capital Stock 107.00 107.00 63.00 0 108.00 63.00 0 63.00 63.00 63.00 43.00 63.00 39.00
      Share Premium 4,112,538.00 4,127,665.00 4,210,531.00 4,103,482.00 4,107,742.00 4,074,849.00 4,011,435.00 3,739,658.00 3,666,160.00 3,543,204.00 3,507,533.00 2,931,249.00 2,865,964.00
      Retained Earnings 2,304,314.00 2,222,750.00 2,480,664.00 2,845,653.00 2,764,685.00 2,427,448.00 2,517,583.00 2,216,811.00 1,964,689.00 2,224,677.00 2,255,179.00 1,923,771.00 1,920,635.00
      Treasury Shares 2,611.00 2,612.00 -2,654.00 -2,662.00 2,657.00 -2,654.00 -2,629.00 -2,828.00 -2,806.00 -2,736.00 -2,715.00 -2,359.00 -2,317.00
      Accumulated Other Comprehensive Income 0 0 0 0 0 0 0 0 0 12,304.00 16,491.00 29,452.00 34,395.00
   Minority Interest 3,206,513.00 3,155,030.00 3,100,010.00 3,395,785.00 3,388,589.00 3,363,965.00 3,557,792.00 3,868,251.00 3,897,223.00 4,364,324.00 4,471,951.00 4,954,818.00 5,077,036.00
Investments 0 0 15,740,406.00 16,445,242.00 0 14,595,679.00 15,119,436.00 14,417,370.00 14,254,650.00 14,941,621.00 15,275,711.00 14,361,600.00 14,020,699.00
Debt 8,945,735.00 8,002,499.00 7,617,452.00 7,612,426.00 7,607,379.00 6,139,376.00 6,135,285.00 7,121,383.00 7,116,322.00 7,101,138.00 7,096,070.00 5,821,072.00 5,816,584.00
Net Debt 8,006,791.00 7,370,591.00 6,517,632.00 6,625,200.00 6,657,327.00 5,267,376.00 5,639,975.00 5,143,194.00 5,379,850.00 4,760,600.00 4,907,150.00 3,974,088.00 3,754,641.00
Common Shares Outstanding 429,027.00 432,288.00 0 0 446,038.00 0 0 0 0 0 0 0 0
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Revenues 609,291.00 578,665.00 568,247.00 564,690.00 567,978.00 683,971.00 562,049.00 573,027.00
Cost Of Revenue 0 0 127,140.00 0 583,600.00 118,804.00 49,581.00 35,941.00
Interest Income 6,903.00 8,327.00 0 17,508.00 0 0 0 0
Interest Expense 79,564.00 68,668.00 65,261.00 66,506.00 44,232.00 46,950.00 47,063.00 37,415.00
Non-Interest Expense 118,734.00 179,769.00 0 56,720.00 0 0 0 0
Provisions for Credit Losses 0 0 13,506.00 0 669.00 7,415.00 -49,581.00 35,941.00
Gross Profit 0 0 441,107.00 0 -15,622.00 565,167.00 512,468.00 537,086.00
Operating Expenses 182,135.00 368,866.00 -93,075.00 -170,384.00 58,152.00 86,195.00 292,750.00 307,789.00
   Selling, General and Administrative Expenses 118,734.00 179,769.00 110,705.00 56,720.00 57,652.00 85,695.00 51,540.00 43,156.00
   Research and Development Expenses 50,500.00 300,500.00 50,500.00 500.00 500.00 500.00 200,500.00 5,241.00
   Other Operating Expenses 12,135.00 -111,403.00 -254,280.00 -227,604.00 0.00 0.00 40,710.00 259,392.00
Operating Income 427,156.00 209,799.00 534,182.00 735,074.00 -73,774.00 478,972.00 219,718.00 229,297.00
Net Non-Operating Income -1,575.00 -1,543.00 -100,749.00 -1,654.00 69,501.00 30,117.00 -91,635.00 -70,318.00
EBT 444,211.00 90,635.00 433,433.00 806,358.00 -4,273.00 509,089.00 128,083.00 158,979.00
Income Tax 0 0 0.00 0 0.00 0.00 0.00 0.00
Equity Method Investments Income 0 0 -12,843.00 0 28,349.00 -69,206.00 -797.00 3,818.00
Net Income Including Non-Controlling Interests 444,211.00 90,635.00 628,517.00 806,358.00 -4,273.00 677,423.00 204,405.00 248,839.00
Net Income Non-Controlling Interests -155,994.00 -60,459.00 -390,168.00 -262,371.00 9,051.00 -336,668.00 -152,644.00 -179,720.00
Net Income 288,217.00 30,176.00 238,349.00 543,987.00 4,778.00 340,755.00 51,761.00 69,119.00
EBIT 523,775.00 159,303.00 498,694.00 872,864.00 39,959.00 556,039.00 175,146.00 196,394.00
Deprecation and Amortization 1,277.00 0 0.00 0 0.00 0.00 0.00 0.00
EBITDA 525,052.00 159,303.00 0 872,864.00 0 0 0 0
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 429,027.00 432,288.00 435,480.00 446,038.00 448,623.00 445,612.00 433,956.00 389,760.00
Average Shares Outstanding Diluted 560,000.00 562,000.00 578,102.00 593,000.00 597,479.00 607,251.00 607,201.00 607,148.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Operating Cash Flow 702,615.00 363,984.00 596,076.00 703,614.00 664,638.00 1,033,837.00 460,270.00 526,100.00
   Operating Net Income 444,211.00 90,635.00 0 806,358.00 0 0 0 0
   Deprecation and Amortization 1,277.00 0 0 0 0 0 0 0
   Deferred Income Tax 0 0 0 0 0 0 0 0
   Share Based Compensation 72,842.00 90,769.00 515.00 526.00 612.00 573.00 496.00 713.00
   Change in Working Capital -50,876.00 49,693.00 -78,841.00 -18,724.00 -39,087.00 -40,963.00 -44,497.00 -31,875.00
   Other Operating Activities 235,161.00 0 674,402.00 0 703,113.00 1,074,227.00 504,271.00 557,262.00
Investing Cash Flow -958,314.00 -311,982.00 503,917.00 -1,192,701.00 -86,650.00 -558,526.00 11,165.00 -599,300.00
   Capital Expenditure 0 0 0.00 0 0.00 0.00 0.00 0.00
   Net Purchase/Sale of PPE 0 0 0 0 0 0 0 0
   Net Purchase/Sale of Investments Net -958,993.00 -73,234.00 12,586.00 -1,204,191.00 1,440.00 24,391.00 48,300.00 -87,516.00
   Net Purchase/Sale of Business -226.00 -74,190.00 0 0 -6,971.00 -3,579.00 -3,050.00 -8,714.00
   Other Investing Activities 905.00 -164,558.00 491,331.00 11,490.00 -81,119.00 -579,338.00 -34,085.00 -503,070.00
Financing Cash Flow 562,735.00 -507,814.00 -941,299.00 -325,505.00 -211,998.00 -210,373.00 -220,966.00 -226,670.00
   Net Issuance/Repayment of Debt 954,475.00 0 0 0 0 0 0 0
   Net Issuance/Repurchase of Equity -146,493.00 -291,572.00 708,781.00 -97,045.00 0 0 0 0
   Dividends Paid -95,312.00 -93,241.00 0 -94,061.00 0 0 0 0
   Other Financing Activities -149,935.00 0 -1,650,080.00 -134,399.00 -211,998.00 -210,373.00 -220,966.00 -226,670.00
Net Change in Cash 307,036.00 -455,812.00 158,694.00 -814,592.00 365,990.00 264,938.00 250,469.00 -299,870.00
   Cash at Beginning of Period 631,908.00 1,087,720.00 929,026.00 1,764,644.00 477,010.00 1,710,751.00 1,541,048.00 1,008,680.00
   Cash at End of Period 938,944.00 631,908.00 1,087,720.00 950,052.00 843,000.00 1,975,689.00 1,791,517.00 708,810.00
Free Cash Flow 702,615.00 363,984.00 0 703,614.00 0 0 0 0