Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 14.14 12.38 5.31 12.49
Price to Sales 0.55 0.54 0.29 0.59
Book Value Per Common Share 27.09 23.07 31.49 17.62
Price to Book 2.01 2.30 1.19 2.04
Price to Operating Cash Flow 6.95 14.53 7.06 7.14
Price to Free Cash Flow 23.08 -58.72 40.48 11.82
Enterprise Value to EBITDA 55323.38 58300.54 27784.24 61691.55
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31
Price to Earnings 67.55 56.43 74.37 47.95 58.56 24.20
Price to Sales 2.39 2.13 2.43 2.00 2.23 1.14
Book Value Per Common Share 28.45 27.71 27.20 26.37 24.66 33.06
Price to Book 2.02 1.89 2.08 1.82 2.16 1.21
Price to Operating Cash Flow 12.21 18.05 29.33 33.99 -26.97 23.65
Price to Free Cash Flow 16.56 36.12 99.81 -190.28 -17.86 1082.02
Enterprise Value to EBITDA 273444.50 236012.39 294433.81 208100.68 249516.58 118829.71

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY -10.05 -39.38 145.14
Revenue YoY -1.52 11.59 38.54
EBITDA YoY 5.57 -1.48 54.03
Net Profit YoY -12.36 -11.33 62.12
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31
Earning YoY -8.60 22.37 -24.00 9.89 -44.85
Revenue YoY -2.59 4.32 -2.39 1.29 -2.08
EBITDA YoY -5.44 13.04 -16.00 8.61 -8.91
Net Profit YoY -7.94 20.09 -23.77 10.51 -20.84

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 2.89 2.27 3.63 1.77
Quick Ratio 0.35 0.26 0.30 0.29
Current Ratio 1.45 1.35 1.31 1.32
Debt to Equity 1.14 1.31 1.17 1.13
Long-Term Debt to Equity 0.37 0.42 0.36 0.44
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31
Cash Per Common Share 3.09 2.70 2.87 2.34 1.99 4.13
Quick Ratio 0.32 0.31 0.31 0.27 0.26 0.30
Current Ratio 1.37 1.39 1.44 1.40 1.43 1.30
Debt to Equity 1.04 1.17 1.14 1.21 1.37 1.17
Long-Term Debt to Equity 0.31 0.38 0.37 0.38 0.47 0.34

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 6.59 7.95 10.24 7.74
ROE 14.07 18.36 22.20 16.46
Gross Margin 19.62 20.10 20.94 21.31
Operating Margin 6.94 6.51 7.73 6.17
EBITDA Margin 9.97 9.30 10.53 9.47
Net Profit Margin 3.90 4.38 5.51 4.71
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31
ROA 1.46 1.54 1.29 1.70 1.55 2.28
ROE 2.98 3.33 2.76 3.76 3.66 4.94
Gross Margin 19.93 19.66 19.33 19.99 20.83 20.86
Operating Margin 5.30 5.69 4.94 6.38 5.92 6.81
EBITDA Margin 8.69 8.95 8.26 9.60 8.95 9.63
Net Profit Margin 3.55 3.75 3.26 4.17 3.83 4.73

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Dividend Yield 0.00
Dividend Payout Ratio 17.01
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31
Dividend Yield 0.00 0.00 0.00
Dividend Payout Ratio 22.19 20.05 17.69

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 4,617,547.00 4,364,241.00 3,821,066.00 3,119,977.00
   Current Assets 2,389,715.00 2,260,304.00 1,867,743.00 1,324,454.00
      Cash and Short-Term Investments 228,131.00 183,725.00 201,044.00 148,146.00
            Cash and Cash Equivalents 228,131.00 183,725.00 201,044.00 148,146.00
            Short-Term Investments 0 0 0 0
      Net Receivables 345,346.00 259,353.00 220,651.00 140,186.00
      Inventory 1,787,744.00 1,801,447.00 1,429,429.00 1,020,136.00
      Other Current Assets 28,494.00 15,779.00 16,619.00 15,986.00
   Non-Current Assets 2,227,832.00 2,103,937.00 1,953,323.00 1,795,523.00
      Property, Plant, Equipment Net 1,727,043.00 1,608,248.00 1,471,279.00 1,347,215.00
      Goodwill 427,493.00 420,708.00 416,363.00 370,331.00
      Intangible Assets 0 0 0 77,977.00
      Long-Term Investments 0 0 0 0
      Non-Current Deferred Assets 0 0 0 0
      Other Non-Current Assets 73,296.00 74,981.00 65,681.00 0.00
Liabilities 2,455,644.00 2,473,825.00 2,058,044.00 1,653,228.00
   Current Liabilities 1,650,119.00 1,673,310.00 1,428,674.00 1,003,504.00
      Payables and Expenses 404,827.00 334,683.00 335,019.00 253,421.00
            Account Payables 244,018.00 162,134.00 171,717.00 122,291.00
            Current Accrued Liabilities 160,809.00 172,549.00 163,302.00 131,130.00
      Short-Term Debt 54,342.00 53,557.00 44,212.00 669,522.00
      Other Current Liabilities 1,190,950.00 1,285,070.00 1,049,443.00 80,561.00
   Non-Current Liabilities 805,525.00 800,515.00 629,370.00 649,724.00
      Long-Term Debt 598,549.00 616,133.00 457,945.00 482,737.00
      Other Non-Current Liabilities 206,976.00 184,382.00 171,425.00 166,987.00
Equity 2,161,903.00 1,890,416.00 1,763,022.00 1,466,749.00
   Shareholders Equity 2,141,549.00 1,870,879.00 1,744,491.00 1,466,749.00
      Capital Stock 824.00 806.00 572.00 563.00
      Share Premium 587,639.00 542,046.00 500,642.00 470,750.00
      Retained Earnings 1,698,614.00 1,450,025.00 1,378,337.00 1,031,582.00
      Treasury Shares -136,235.00 -119,835.00 -130,930.00 36,933.00
      Accumulated Other Comprehensive Income -9,293.00 -2,163.00 -4,130.00 787.00
   Minority Interest 20,354.00 19,537.00 18,531.00 0
Debt 652,891.00 669,690.00 502,157.00 1,152,259.00
Net Debt 424,760.00 485,965.00 301,113.00 817,511.00
Common Shares Outstanding 0 0 0 83,259.71
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 7,804,746.00 7,925,024.00 7,101,670.00 5,126,142.00
Cost Of Revenue 6,273,330.00 6,331,934.00 5,614,511.00 4,033,844.00
Interest Income 75,522.00 2,331.00 21,680.00 657.00
Interest Expense 144,048.00 53,694.00 39,526.00 2,427.00
Net Interest -68,526.00 -51,363.00 -17,846.00 0
Non-Interest Expense 0 0 0 731,340.00
Gross Profit 1,531,416.00 1,593,090.00 1,487,159.00 1,092,298.00
Operating Expenses 595,235.00 1,080,709.00 981,046.00 784,694.00
   Selling, General and Administrative Expenses 995,586.00 1,021,722.00 927,836.00 731,340.00
   Other Operating Expenses -400,351.00 58,987.00 53,210.00 0
Operating Income 936,181.00 512,381.00 506,113.00 307,604.00
Net Non-Operating Income -538,366.00 -50,320.00 3,214.00 6,417.00
EBT 397,815.00 462,061.00 509,327.00 313,683.00
Income Tax 92,845.00 114,000.00 117,242.00 72,268.00
Net Income Including Non-Controlling Interests 304,970.00 348,061.00 392,085.00 241,415.00
Net Income Non-Controlling Interests -817.00 -1,006.00 -703.00 0
Net Income 304,153.00 347,055.00 391,382.00 241,415.00
EBIT 541,863.00 515,755.00 548,853.00 316,110.00
Deprecation and Amortization 236,101.00 221,141.00 199,149.00 169,497.00
EBITDA 777,964.00 736,896.00 748,002.00 485,607.00
EPS 0.00 0.00 0.01 0.00
Diluted EPS 0.00 0.00 0.01 0.00
Average Shares Outstanding Basic 79,058.00 81,089.00 55,400.00 83,838.00
Average Shares Outstanding Diluted 81,818.00 83,720.00 57,151.00 86,817.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 619,550.00 295,713.00 294,400.00 422,346.00
   Operating Net Income 304,970.00 348,061.00 392,085.00 241,415.00
   Deprecation and Amortization 236,101.00 221,141.00 199,149.00 169,497.00
   Deferred Income Tax 19,810.00 7,601.00 4,261.00 14,034.00
   Share Based Compensation 30,350.00 30,354.00 25,315.00 22,246.00
   Change in Working Capital 29,128.00 -310,601.00 -304,485.00 -17,803.00
   Other Operating Activities -809.00 -843.00 -21,925.00 -7,043.00
Investing Cash Flow -445,577.00 -387,030.00 -240,930.00 -432,905.00
   Capital Expenditure -433,047.00 -368,881.00 -243,060.00 0
   Net Purchase/Sale of PPE -423,610.00 -366,669.00 -235,936.00 -163,730.00
   Net Purchase/Sale of Investments Net 3,933.00 -4,311.00 -11,732.00 0
   Net Purchase/Sale of Business -16,364.00 -16,050.00 6,738.00 -269,332.00
   Other Investing Activities 423,511.00 368,881.00 243,060.00 0
Financing Cash Flow -129,321.00 73,962.00 -690.00 -153,343.00
   Net Issuance/Repayment of Debt 1,827,689.00 1,411,390.00 943,548.00 -89,557.00
   Net Issuance/Repurchase of Equity 15,746.00 211,778.00 93,709.00 -33,596.00
   Dividends Paid 55,508.00 50,582.00 44,556.00 -41,060.00
   Other Financing Activities -2,028,264.00 -1,599,788.00 -1,082,503.00 10,870.00
Net Change in Cash 44,652.00 -17,355.00 52,780.00 -163,902.00
   Cash at Beginning of Period 183,479.00 201,080.00 0 312,048.00
   Cash at End of Period 228,131.00 183,725.00 0 148,146.00
Free Cash Flow 186,503.00 -73,168.00 51,340.00 255,169.00
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
Assets 4,553,062.00 4,715,774.00 4,687,941.00 4,617,547.00 4,648,471.00 4,629,006.00 4,364,241.00 3,969,552.00 3,821,066.00
   Current Assets 2,217,322.00 2,395,703.00 2,434,389.00 2,389,715.00 2,460,393.00 2,517,001.00 2,260,304.00 1,973,952.00 1,867,743.00
      Cash and Short-Term Investments 242,005.00 211,106.00 228,719.00 228,131.00 185,073.00 155,905.00 183,725.00 226,292.00 201,044.00
            Cash and Cash Equivalents 242,005.00 211,106.00 228,719.00 228,131.00 185,073.00 155,905.00 183,725.00 226,292.00 201,044.00
            Short-Term Investments 0 0 0 0 0 0 0 0 0
      Net Receivables 274,934.00 314,350.00 295,009.00 345,346.00 289,458.00 303,444.00 259,353.00 229,684.00 220,651.00
      Inventory 1,662,256.00 1,842,311.00 1,886,071.00 1,787,744.00 1,964,835.00 2,031,775.00 1,801,447.00 1,498,948.00 1,429,429.00
      Other Current Assets 38,127.00 27,936.00 24,590.00 28,494.00 21,027.00 25,877.00 15,779.00 19,028.00 16,619.00
   Non-Current Assets 2,335,740.00 2,320,071.00 2,253,552.00 2,227,832.00 2,188,078.00 2,112,005.00 2,103,937.00 1,995,600.00 1,953,323.00
      Property, Plant, Equipment Net 1,817,385.00 1,801,287.00 1,754,493.00 1,727,043.00 1,684,141.00 1,620,395.00 1,608,248.00 1,504,319.00 1,471,279.00
      Goodwill 440,754.00 441,967.00 0 427,493.00 430,004.00 0 420,708.00 0 416,363.00
      Intangible Assets 0 0 0 0 0 0 0 0 0
      Long-Term Investments 0 0 0 0 0 0 0 0 0
      Non-Current Deferred Assets 0 0 0 0 0 0 0 0 0
      Other Non-Current Assets 77,601.00 76,817.00 499,059.00 73,296.00 73,933.00 491,610.00 74,981.00 491,281.00 65,681.00
Liabilities 2,316,315.00 2,540,743.00 2,500,357.00 2,455,644.00 2,545,514.00 2,674,086.00 2,473,825.00 2,140,016.00 2,058,044.00
   Current Liabilities 1,622,606.00 1,718,449.00 1,695,348.00 1,650,119.00 1,752,032.00 1,757,329.00 1,673,310.00 1,513,077.00 1,428,674.00
      Payables and Expenses 458,766.00 466,965.00 461,908.00 404,827.00 324,337.00 326,150.00 334,683.00 349,867.00 335,019.00
            Account Payables 280,647.00 297,425.00 319,398.00 244,018.00 173,777.00 181,079.00 162,134.00 200,412.00 171,717.00
            Current Accrued Liabilities 178,119.00 169,540.00 142,510.00 160,809.00 150,560.00 145,071.00 172,549.00 149,455.00 163,302.00
      Short-Term Debt 1,061,717.00 1,143,768.00 55,669.00 54,342.00 1,340,581.00 54,926.00 53,557.00 46,842.00 44,212.00
      Other Current Liabilities 102,123.00 107,716.00 1,177,771.00 1,190,950.00 87,114.00 1,376,253.00 1,285,070.00 1,116,368.00 1,049,443.00
   Non-Current Liabilities 693,709.00 822,294.00 805,009.00 805,525.00 793,482.00 916,757.00 800,515.00 626,939.00 629,370.00
      Long-Term Debt 460,705.00 610,149.00 594,403.00 598,549.00 593,199.00 728,444.00 616,133.00 448,895.00 457,945.00
      Other Non-Current Liabilities 233,004.00 212,145.00 210,606.00 206,976.00 200,283.00 188,313.00 184,382.00 178,044.00 171,425.00
Equity 2,236,747.00 2,175,031.00 2,187,584.00 2,161,903.00 2,102,957.00 1,954,920.00 1,890,416.00 1,829,536.00 1,763,022.00
   Shareholders Equity 2,214,499.00 2,153,831.00 2,166,936.00 2,141,549.00 2,083,129.00 1,935,502.00 1,870,879.00 1,810,670.00 1,744,491.00
      Capital Stock 834.00 831.00 830.00 824.00 820.00 815.00 806.00 577.00 572.00
      Share Premium 628,080.00 607,783.00 598,058.00 587,639.00 577,665.00 556,001.00 542,046.00 512,998.00 500,642.00
      Retained Earnings 1,854,537.00 1,802,812.00 1,744,527.00 1,698,614.00 1,638,257.00 1,508,202.00 1,450,025.00 1,457,203.00 1,378,337.00
      Treasury Shares 262,495.00 253,317.00 -167,174.00 -136,235.00 129,644.00 -125,462.00 -119,835.00 -156,210.00 -130,930.00
      Accumulated Other Comprehensive Income -6,457.00 -4,278.00 -9,305.00 -9,293.00 -3,969.00 -4,054.00 -2,163.00 -3,898.00 -4,130.00
   Minority Interest 22,248.00 21,200.00 20,648.00 20,354.00 19,828.00 19,418.00 19,537.00 18,866.00 18,531.00
Debt 1,522,422.00 1,753,917.00 650,072.00 652,891.00 1,933,780.00 783,370.00 669,690.00 495,737.00 502,157.00
Net Debt 1,028,219.00 1,290,646.00 421,353.00 424,760.00 1,499,634.00 627,465.00 485,965.00 269,445.00 301,113.00
Common Shares Outstanding 77,840.40 77,737.69 0 0 79,003.44 0 0 0 0
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31
Revenues 1,880,765.00 1,930,707.00 1,850,830.00 1,896,133.00 1,871,999.00 1,911,767.00
Cost Of Revenue 1,506,013.00 1,551,036.00 1,493,070.00 1,517,092.00 1,482,124.00 1,512,998.00
Interest Expense 11,718.00 12,726.00 12,863.00 17,664.00 17,973.00 10,983.00
Non-Interest Expense 256,403.00 251,981.00 0 239,741.00 0 0
Gross Profit 374,752.00 379,671.00 357,760.00 379,041.00 389,875.00 398,769.00
Operating Expenses 274,558.00 269,592.00 82,153.00 258,875.00 168,557.00 143,430.00
   Selling, General and Administrative Expenses 256,403.00 251,981.00 248,803.00 239,741.00 263,665.00 256,808.00
   Other Operating Expenses 0 0 -166,650.00 0 -95,108.00 -113,378.00
Operating Income 100,194.00 110,079.00 275,607.00 120,166.00 221,318.00 255,339.00
Net Non-Operating Income -438.00 -372.00 -197,041.00 149.00 -128,504.00 -136,199.00
EBT 87,874.00 97,108.00 78,566.00 103,239.00 92,814.00 119,140.00
Income Tax 20,136.00 24,119.00 53,847.00 23,819.00 21,325.00 28,350.00
Net Income Including Non-Controlling Interests 67,738.00 72,989.00 60,617.00 79,420.00 71,489.00 90,790.00
Net Income Non-Controlling Interests -1,048.00 -551.00 -295.00 -288.00 119.00 -335.00
Net Income 66,690.00 72,438.00 60,322.00 79,132.00 71,608.00 90,455.00
EBIT 99,592.00 109,834.00 91,429.00 120,903.00 110,787.00 130,123.00
Deprecation and Amortization 63,868.00 63,031.00 61,491.00 61,143.00 56,834.00 53,896.00
EBITDA 163,460.00 172,865.00 152,920.00 182,046.00 167,621.00 184,019.00
EPS 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
Average Shares Outstanding Basic 78,235.00 78,300.00 79,661.00 79,216.00 78,483.00 54,767.00
Average Shares Outstanding Diluted 80,593.00 80,487.00 82,381.00 81,884.00 81,454.00 56,564.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31
Operating Cash Flow 367,783.00 227,636.00 153,526.00 111,743.00 -155,053.00 92,466.00
   Operating Net Income 67,738.00 72,989.00 60,617.00 79,420.00 71,489.00 90,790.00
   Deprecation and Amortization 63,868.00 63,031.00 61,491.00 61,143.00 56,834.00 53,896.00
   Deferred Income Tax 18,792.00 -1,698.00 2,250.00 9,630.00 71.00 3,165.00
   Share Based Compensation 4,814.00 8,289.00 13,714.00 5,292.00 14,090.00 13,080.00
   Change in Working Capital 212,766.00 85,559.00 15,622.00 -43,014.00 -297,387.00 -68,336.00
   Other Operating Activities -195.00 -534.00 -168.00 -728.00 -150.00 -129.00
Investing Cash Flow -97,997.00 -135,719.00 -96,501.00 -144,700.00 -69,188.00 -95,514.00
   Capital Expenditure 0 0 -108,410.00 0 -79,136.00 -90,446.00
   Net Purchase/Sale of PPE -96,395.00 -110,968.00 -104,086.00 -125,750.00 -76,101.00 -90,324.00
   Net Purchase/Sale of Investments Net 0 0 3,255.00 0 -6,913.00 -5,190.00
   Net Purchase/Sale of Business -143.00 0 0 -16,363.00 0 0
   Other Investing Activities -1,459.00 0 112,740.00 -2,587.00 92,962.00 90,446.00
Financing Cash Flow -238,691.00 -109,832.00 -56,422.00 50,748.00 196,451.00 28,294.00
   Net Issuance/Repayment of Debt -232,019.00 -9,308.00 284,756.00 56,240.00 693,149.00 253,234.00
   Net Issuance/Repurchase of Equity -7,361.00 -87,440.00 29,642.00 -267.00 5,627.00 24,008.00
   Dividends Paid -14,797.00 -14,521.00 14,409.00 -13,998.00 13,868.00 12,062.00
   Other Financing Activities 15,486.00 1,437.00 -385,229.00 8,773.00 -516,193.00 -261,010.00
Net Change in Cash 31,095.00 -17,915.00 603.00 17,791.00 -27,790.00 25,246.00
   Cash at Beginning of Period 211,106.00 228,719.00 228,116.00 167,266.00 183,695.00 201,046.00
   Cash at End of Period 242,005.00 211,106.00 228,719.00 185,073.00 155,905.00 226,292.00
Free Cash Flow 271,230.00 113,771.00 45,116.00 -19,966.00 -234,189.00 2,020.00