SAP
Valuation Ratios
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Price to Earnings | 91.87 | 29.56 | 52.65 | 30.72 |
| Price to Sales | 8.40 | 5.78 | 4.09 | 6.13 |
| Book Value Per Common Share | 38.95 | 36.97 | 34.43 | 32.94 |
| Price to Book | 6.32 | 4.18 | 3.00 | 4.25 |
| Price to Operating Cash Flow | 55.00 | 28.49 | 21.38 | 26.56 |
| Price to Free Cash Flow | 64.91 | 32.52 | 25.31 | 29.93 |
| Enterprise Value to EBITDA | 405973.05 | 224793.41 | 145417.99 | 150424.33 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Price to Earnings | 155.35 | 209.72 | 176.61 | 179.72 | 183.28 |
| Price to Sales | 34.27 | 39.28 | 34.76 | 30.59 | 31.54 |
| Book Value Per Common Share | 36.76 | 35.20 | 39.19 | 38.95 | 35.33 |
| Price to Book | 7.27 | 8.64 | 6.85 | 6.32 | 6.48 |
| Price to Operating Cash Flow | 207.08 | 137.65 | 82.85 | -521.52 | 190.39 |
| Price to Free Cash Flow | 239.07 | 148.61 | 86.71 | -350.23 | 215.42 |
| Enterprise Value to EBITDA | 922055.75 | 1146506.97 | 1011168.83 | 1008164.03 | 986511.64 |
Earnings Data
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Earning YoY | -48.76 | 166.84 | -57.03 | |
| Revenue YoY | 9.51 | 5.72 | 9.52 | |
| EBITDA YoY | -11.86 | -3.08 | -24.62 | |
| Net Profit YoY | -49.11 | 168.78 | -56.54 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Earning YoY | 18.62 | -4.61 | 10.95 | 9.60 | |
| Revenue YoY | 0.54 | 0.16 | -3.88 | 10.71 | |
| EBITDA YoY | 9.26 | -0.26 | 8.70 | 5.17 | |
| Net Profit YoY | 18.09 | -4.66 | 11.18 | 9.43 |
Financial Strength
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Cash Per Common Share | 9.64 | 9.83 | 8.43 | 9.88 |
| Quick Ratio | 0.99 | 1.26 | 0.95 | 1.15 |
| Current Ratio | 1.12 | 1.41 | 1.06 | 1.24 |
| Debt to Equity | 0.62 | 0.57 | 0.68 | 0.71 |
| Long-Term Debt to Equity | 0.20 | 0.24 | 0.28 | 0.33 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Cash Per Common Share | 8.53 | 8.73 | 11.13 | 9.65 | 10.35 |
| Quick Ratio | 0.94 | 0.89 | 1.05 | 0.99 | 0.97 |
| Current Ratio | 1.11 | 1.03 | 1.17 | 1.12 | 1.10 |
| Debt to Equity | 0.58 | 0.65 | 0.64 | 0.62 | 0.68 |
| Long-Term Debt to Equity | 0.19 | 0.19 | 0.20 | 0.20 | 0.23 |
Profitability
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| ROA | 4.21 | 8.98 | 3.17 | 7.38 |
| ROE | 6.82 | 14.14 | 5.33 | 12.66 |
| Gross Margin | 72.95 | 72.21 | 72.77 | 73.22 |
| Operating Margin | 16.96 | 21.32 | 22.74 | 35.06 |
| EBITDA Margin | 20.70 | 25.72 | 28.06 | 40.76 |
| Net Profit Margin | 9.14 | 19.67 | 7.74 | 19.50 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| ROA | 2.93 | 2.48 | 2.35 | 2.16 | 2.10 |
| ROE | 4.63 | 4.10 | 3.86 | 3.50 | 3.53 |
| Gross Margin | 73.50 | 73.34 | 73.31 | 74.03 | 73.34 |
| Operating Margin | 33.68 | 30.69 | 30.49 | 26.79 | 28.24 |
| EBITDA Margin | 37.19 | 34.22 | 34.36 | 30.38 | 31.98 |
| Net Profit Margin | 22.08 | 18.80 | 19.75 | 17.07 | 17.27 |
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 | 82.11 | 39.01 | 125.44 | 41.51 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Dividend Yield | 0.00 | ||||
| Dividend Payout Ratio | 161.64 |
Financial Statements
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Assets | 74,122,000.00 | 68,331,000.00 | 72,159,000.00 | 71,174,000.00 |
| Current Assets | 21,401,000.00 | 20,571,000.00 | 18,522,000.00 | 20,044,000.00 |
| Cash and Short-Term Investments | 11,238,000.00 | 11,468,000.00 | 9,861,000.00 | 11,656,000.00 |
| Cash and Cash Equivalents | 9,609,000.00 | 8,124,000.00 | 9,008,000.00 | 8,898,000.00 |
| Short-Term Investments | 1,629,000.00 | 3,344,000.00 | 853,000.00 | 2,758,000.00 |
| Net Receivables | 7,737,000.00 | 6,969,000.00 | 6,767,000.00 | 6,974,000.00 |
| Inventory | 0 | 0 | 0 | 0 |
| Other Current Assets | 2,426,000.00 | 2,134,000.00 | 1,894,000.00 | 1,414,000.00 |
| Non-Current Assets | 52,721,000.00 | 47,760,000.00 | 53,638,000.00 | 51,130,000.00 |
| Property, Plant, Equipment Net | 4,493,000.00 | 4,276,000.00 | 4,934,000.00 | 4,977,000.00 |
| Goodwill | 31,147,000.00 | 29,081,000.00 | 33,077,000.00 | 31,088,000.00 |
| Intangible Assets | 2,706,000.00 | 2,505,000.00 | 3,835,000.00 | 3,965,000.00 |
| Long-Term Investments | 6,548,000.00 | 5,249,000.00 | 5,294,000.00 | 5,954,000.00 |
| Non-Current Deferred Assets | 6,168,000.00 | 5,351,000.00 | 5,114,000.00 | 1,786,000.00 |
| Other Non-Current Assets | 1,659,000.00 | 1,298,000.00 | 1,384,000.00 | 3,360,000.00 |
| Liabilities | 28,314,000.00 | 24,925,000.00 | 29,311,000.00 | 29,651,000.00 |
| Current Liabilities | 19,079,000.00 | 14,641,000.00 | 17,453,000.00 | 16,136,000.00 |
| Payables and Expenses | 3,584,000.00 | 2,919,000.00 | 3,091,000.00 | 2,530,000.00 |
| Account Payables | 1,990,000.00 | 1,783,000.00 | 2,146,000.00 | 1,580,000.00 |
| Current Accrued Liabilities | 0 | 0 | 0 | 0 |
| Short-Term Debt | 3,931,000.00 | 1,437,000.00 | 4,333,000.00 | 4,163,000.00 |
| Other Current Liabilities | 11,564,000.00 | 10,285,000.00 | 10,029,000.00 | 9,443,000.00 |
| Non-Current Liabilities | 9,235,000.00 | 10,284,000.00 | 11,858,000.00 | 13,515,000.00 |
| Long-Term Debt | 6,720,000.00 | 7,354,000.00 | 8,752,000.00 | 10,980,000.00 |
| Other Non-Current Liabilities | 2,515,000.00 | 2,930,000.00 | 3,106,000.00 | 2,535,000.00 |
| Equity | 45,808,000.00 | 43,406,000.00 | 42,848,000.00 | 41,523,000.00 |
| Shareholders Equity | 45,440,000.00 | 43,157,000.00 | 40,186,000.00 | 38,853,000.00 |
| Capital Stock | 1,229,000.00 | 1,229,000.00 | 1,229,000.00 | 1,229,000.00 |
| Share Premium | 2,564,000.00 | 1,845,000.00 | 3,081,000.00 | 1,918,000.00 |
| Retained Earnings | 42,907,000.00 | 42,457,000.00 | 36,418,000.00 | 37,022,000.00 |
| Treasury Shares | 5,954,000.00 | 4,741,000.00 | 4,341,000.00 | 3,072,000.00 |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | 0 |
| Minority Interest | 368,000.00 | 249,000.00 | 2,662,000.00 | 2,670,000.00 |
| Debt | 10,651,000.00 | 8,791,000.00 | 13,085,000.00 | 15,143,000.00 |
| Net Debt | 0 | 0 | 1,937,000.00 | 4,102,000.00 |
| Common Shares Outstanding | 1,166,589.46 | 1,167,229.06 | 1,167,117.55 | 1,179,579.34 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Revenues | 34,176,000.00 | 31,207,000.00 | 29,519,000.00 | 26,953,000.00 |
| Cost Of Revenue | 9,243,000.00 | 8,674,000.00 | 8,038,000.00 | 7,219,000.00 |
| Interest Income | 1,429,000.00 | 857,000.00 | 811,000.00 | 3,123,000.00 |
| Interest Expense | 1,031,000.00 | 1,313,000.00 | 2,200,000.00 | 945,000.00 |
| Non-Interest Expense | 10,525,000.00 | 10,192,000.00 | 9,235,000.00 | 8,043,000.00 |
| Gross Profit | 24,932,000.00 | 22,534,000.00 | 21,482,000.00 | 19,734,000.00 |
| Operating Expenses | 17,124,000.00 | 16,520,000.00 | 15,431,000.00 | 13,269,000.00 |
| Selling, General and Administrative Expenses | 10,525,000.00 | 10,192,000.00 | 9,235,000.00 | 8,043,000.00 |
| Research and Development Expenses | 6,514,000.00 | 6,324,000.00 | 6,080,000.00 | 5,270,000.00 |
| Other Operating Expenses | 85,000.00 | 4,000.00 | 116,000.00 | -44,000.00 |
| Operating Income | 7,808,000.00 | 6,014,000.00 | 6,051,000.00 | 6,465,000.00 |
| Net Non-Operating Income | -34,000.00 | -36,000.00 | -43,000.00 | -32,000.00 |
| EBT | 4,764,000.00 | 5,341,000.00 | 4,513,000.00 | 8,505,000.00 |
| Income Tax | 1,614,000.00 | 1,741,000.00 | 1,446,000.00 | 1,682,000.00 |
| Net Income Including Non-Controlling Interests | 3,150,000.00 | 5,963,000.00 | 1,709,000.00 | 5,377,000.00 |
| Net Income Non-Controlling Interests | -26,000.00 | 175,000.00 | 576,000.00 | -121,000.00 |
| Net Income | 3,124,000.00 | 6,139,000.00 | 2,284,000.00 | 5,256,000.00 |
| EBIT | 5,795,000.00 | 6,654,000.00 | 6,713,000.00 | 9,450,000.00 |
| Deprecation and Amortization | 1,280,000.00 | 1,373,000.00 | 1,569,000.00 | 1,537,000.00 |
| EBITDA | 7,075,000.00 | 8,027,000.00 | 8,282,000.00 | 10,987,000.00 |
| EPS | 0.00 | 0.01 | 0.00 | 0.00 |
| Diluted EPS | 0.00 | 0.01 | 0.00 | 0.00 |
| Average Shares Outstanding Basic | 1,166,000.00 | 1,167,000.00 | 1,170,000.00 | 1,179,579.34 |
| Average Shares Outstanding Diluted | 1,180,000.00 | 1,180,000.00 | 1,175,000.00 | 1,179,579.34 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Operating Cash Flow | 5,220,000.00 | 6,332,000.00 | 5,647,000.00 | 6,223,000.00 |
| Operating Net Income | 3,150,000.00 | 3,601,000.00 | 3,067,000.00 | 6,823,000.00 |
| Deprecation and Amortization | 1,280,000.00 | 1,373,000.00 | 1,569,000.00 | 1,537,000.00 |
| Deferred Income Tax | 1,614,000.00 | 1,741,000.00 | 1,446,000.00 | 1,682,000.00 |
| Share Based Compensation | 2,385,000.00 | 2,220,000.00 | 1,431,000.00 | 1,335,000.00 |
| Change in Working Capital | 623,000.00 | -27,000.00 | -143,000.00 | 213,000.00 |
| Other Operating Activities | -3,832,000.00 | -2,576,000.00 | -1,723,000.00 | -5,367,000.00 |
| Investing Cash Flow | -656,000.00 | 906,000.00 | 667,000.00 | -3,063,000.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of Investments Net | 1,132,000.00 | -2,659,000.00 | 1,870,000.00 | -1,139,000.00 |
| Net Purchase/Sale of Business | -1,114,000.00 | -1,259,000.00 | -390,000.00 | -1,104,000.00 |
| Other Investing Activities | 0 | 0 | 0 | 0 |
| Financing Cash Flow | -3,412,000.00 | -7,734,000.00 | -6,337,000.00 | -56,000.00 |
| Net Issuance/Repayment of Debt | 1,272,000.00 | -4,400,000.00 | -1,697,000.00 | -647,000.00 |
| Net Issuance/Repurchase of Equity | -2,106,000.00 | -949,000.00 | -1,500,000.00 | 0 |
| Dividends Paid | -2,565,000.00 | -2,395,000.00 | -2,865,000.00 | -2,182,000.00 |
| Other Financing Activities | -13,000.00 | 10,000.00 | -275,000.00 | 2,773,000.00 |
| Net Change in Cash | 1,152,000.00 | -496,000.00 | -24,000.00 | 3,103,000.00 |
| Cash at Beginning of Period | 8,124,000.00 | 9,008,000.00 | 8,898,000.00 | 5,311,000.00 |
| Cash at End of Period | 9,609,000.00 | 8,124,000.00 | 9,008,000.00 | 8,898,000.00 |
| Free Cash Flow | 4,423,000.00 | 5,547,000.00 | 4,770,000.00 | 5,522,000.00 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Assets | 68,396,000.00 | 68,399,000.00 | 75,629,000.00 | 74,122,000.00 | 69,648,000.00 |
| Current Assets | 18,907,000.00 | 19,638,000.00 | 23,968,000.00 | 21,401,000.00 | 20,506,000.00 |
| Cash and Short-Term Investments | 9,934,000.00 | 10,178,000.00 | 12,983,000.00 | 11,238,000.00 | 12,072,000.00 |
| Cash and Cash Equivalents | 8,554,000.00 | 7,942,000.00 | 11,345,000.00 | 9,609,000.00 | 10,005,000.00 |
| Short-Term Investments | 1,380,000.00 | 2,236,000.00 | 1,638,000.00 | 1,629,000.00 | 2,067,000.00 |
| Net Receivables | 6,196,000.00 | 6,809,000.00 | 8,507,000.00 | 7,737,000.00 | 5,998,000.00 |
| Inventory | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 2,777,000.00 | 2,651,000.00 | 2,478,000.00 | 2,426,000.00 | 2,436,000.00 |
| Non-Current Assets | 49,490,000.00 | 48,761,000.00 | 51,661,000.00 | 52,721,000.00 | 49,142,000.00 |
| Property, Plant, Equipment Net | 4,396,000.00 | 4,339,000.00 | 4,461,000.00 | 4,493,000.00 | 4,239,000.00 |
| Goodwill | 29,028,000.00 | 28,537,000.00 | 30,304,000.00 | 31,147,000.00 | 29,487,000.00 |
| Intangible Assets | 2,390,000.00 | 2,289,000.00 | 2,507,000.00 | 2,706,000.00 | 2,708,000.00 |
| Long-Term Investments | 7,058,000.00 | 6,807,000.00 | 7,079,000.00 | 6,548,000.00 | 6,145,000.00 |
| Non-Current Deferred Assets | 2,210,000.00 | 2,503,000.00 | 2,873,000.00 | 6,168,000.00 | 2,639,000.00 |
| Other Non-Current Assets | 4,408,000.00 | 4,286,000.00 | 4,437,000.00 | 1,659,000.00 | 3,924,000.00 |
| Liabilities | 25,155,000.00 | 27,000,000.00 | 29,543,000.00 | 28,314,000.00 | 28,181,000.00 |
| Current Liabilities | 17,111,000.00 | 19,050,000.00 | 20,550,000.00 | 19,079,000.00 | 18,655,000.00 |
| Payables and Expenses | 3,008,000.00 | 3,175,000.00 | 3,139,000.00 | 3,584,000.00 | 2,434,000.00 |
| Account Payables | 2,074,000.00 | 2,210,000.00 | 2,210,000.00 | 1,990,000.00 | 1,932,000.00 |
| Current Accrued Liabilities | 0 | 0 | 0 | 0 | 0 |
| Short-Term Debt | 3,032,000.00 | 3,111,000.00 | 3,406,000.00 | 3,931,000.00 | 3,864,000.00 |
| Other Current Liabilities | 11,071,000.00 | 12,764,000.00 | 14,005,000.00 | 11,564,000.00 | 12,357,000.00 |
| Non-Current Liabilities | 8,044,000.00 | 7,950,000.00 | 8,993,000.00 | 9,235,000.00 | 9,526,000.00 |
| Long-Term Debt | 6,089,000.00 | 5,635,000.00 | 6,701,000.00 | 6,720,000.00 | 7,039,000.00 |
| Other Non-Current Liabilities | 1,955,000.00 | 2,315,000.00 | 2,292,000.00 | 2,515,000.00 | 2,487,000.00 |
| Equity | 43,241,000.00 | 41,399,000.00 | 46,086,000.00 | 45,808,000.00 | 41,467,000.00 |
| Shareholders Equity | 42,807,000.00 | 40,998,000.00 | 45,713,000.00 | 45,440,000.00 | 41,212,000.00 |
| Capital Stock | 1,229,000.00 | 1,229,000.00 | 1,229,000.00 | 1,229,000.00 | 1,229,000.00 |
| Share Premium | 2,790,000.00 | 2,776,000.00 | 2,562,000.00 | 2,564,000.00 | 2,420,000.00 |
| Retained Earnings | 45,671,000.00 | 43,653,000.00 | 44,692,000.00 | 42,907,000.00 | 41,424,000.00 |
| Treasury Shares | 7,163,000.00 | 7,123,000.00 | 5,902,000.00 | 5,954,000.00 | 5,793,000.00 |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 434,000.00 | 401,000.00 | 373,000.00 | 368,000.00 | 255,000.00 |
| Debt | 9,121,000.00 | 8,746,000.00 | 10,107,000.00 | 10,651,000.00 | 10,903,000.00 |
| Common Shares Outstanding | 1,164,604.23 | 1,164,604.23 | 1,166,589.46 | 1,166,589.46 | 1,166,504.23 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Revenues | 9,076,000.00 | 9,027,000.00 | 9,013,000.00 | 9,377,000.00 | 8,470,000.00 |
| Cost Of Revenue | 2,405,000.00 | 2,407,000.00 | 2,406,000.00 | 2,435,000.00 | 2,258,000.00 |
| Interest Income | 524,000.00 | 317,000.00 | 405,000.00 | 579,000.00 | 240,000.00 |
| Interest Expense | 312,000.00 | 268,000.00 | 280,000.00 | 305,000.00 | 241,000.00 |
| Non-Interest Expense | 2,549,000.00 | 2,517,000.00 | 2,593,000.00 | 2,874,000.00 | 2,459,000.00 |
| Gross Profit | 6,671,000.00 | 6,620,000.00 | 6,607,000.00 | 6,942,000.00 | 6,212,000.00 |
| Operating Expenses | 4,201,000.00 | 4,146,000.00 | 4,274,000.00 | 4,603,000.00 | 4,049,000.00 |
| Selling, General and Administrative Expenses | 2,549,000.00 | 2,517,000.00 | 2,593,000.00 | 2,874,000.00 | 2,459,000.00 |
| Research and Development Expenses | 1,644,000.00 | 1,618,000.00 | 1,673,000.00 | 1,675,000.00 | 1,568,000.00 |
| Other Operating Expenses | 8,000.00 | 11,000.00 | 8,000.00 | 54,000.00 | 22,000.00 |
| Operating Income | 2,470,000.00 | 2,474,000.00 | 2,333,000.00 | 2,339,000.00 | 2,163,000.00 |
| Net Non-Operating Income | 46,000.00 | -3,000.00 | 10,000.00 | 181,000.00 | -62,000.00 |
| EBT | 2,745,000.00 | 2,502,000.00 | 2,468,000.00 | 2,207,000.00 | 2,151,000.00 |
| Income Tax | 694,000.00 | 753,000.00 | 672,000.00 | 591,000.00 | 710,000.00 |
| Net Income Including Non-Controlling Interests | 2,051,000.00 | 1,749,000.00 | 1,796,000.00 | 1,616,000.00 | 1,441,000.00 |
| Net Income Non-Controlling Interests | -47,000.00 | -52,000.00 | -16,000.00 | -15,000.00 | 23,000.00 |
| Net Income | 2,004,000.00 | 1,697,000.00 | 1,780,000.00 | 1,601,000.00 | 1,463,000.00 |
| EBIT | 3,057,000.00 | 2,770,000.00 | 2,748,000.00 | 2,512,000.00 | 2,392,000.00 |
| Deprecation and Amortization | 318,000.00 | 319,000.00 | 349,000.00 | 337,000.00 | 317,000.00 |
| EBITDA | 3,375,000.00 | 3,089,000.00 | 3,097,000.00 | 2,849,000.00 | 2,709,000.00 |
| 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 | 1,164,000.00 | 1,166,000.00 | 1,167,000.00 | 1,165,000.00 | 1,166,000.00 |
| Average Shares Outstanding Diluted | 1,172,000.00 | 1,175,000.00 | 1,177,000.00 | 1,176,000.00 | 1,178,000.00 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Operating Cash Flow | 1,502,000.00 | 2,576,000.00 | 3,781,000.00 | -550,000.00 | 1,403,000.00 |
| Operating Net Income | 2,051,000.00 | 1,749,000.00 | 1,796,000.00 | 1,616,000.00 | 1,440,000.00 |
| Deprecation and Amortization | 318,000.00 | 319,000.00 | 349,000.00 | 337,000.00 | 317,000.00 |
| Deferred Income Tax | 694,000.00 | 753,000.00 | 672,000.00 | 591,000.00 | 710,000.00 |
| Share Based Compensation | 430,000.00 | 529,000.00 | 420,000.00 | 570,000.00 | 535,000.00 |
| Change in Working Capital | -1,105,000.00 | -31,000.00 | 1,276,000.00 | -2,168,000.00 | -1,135,000.00 |
| Other Operating Activities | -886,000.00 | -743,000.00 | -732,000.00 | -1,496,000.00 | -464,000.00 |
| Investing Cash Flow | -74,000.00 | -716,000.00 | 43,000.00 | -39,000.00 | 463,000.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | 0 | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of Investments Net | 659,000.00 | -630,000.00 | 56,000.00 | 197,000.00 | 1,552,000.00 |
| Net Purchase/Sale of Business | -695,000.00 | -2,000.00 | -3,000.00 | -10,000.00 | -1,085,000.00 |
| Other Investing Activities | -38,000.00 | -84,000.00 | -10,000.00 | -226,000.00 | -4,000.00 |
| Financing Cash Flow | -700,000.00 | -5,019,000.00 | -1,723,000.00 | -233,000.00 | 468,000.00 |
| Net Issuance/Repayment of Debt | -322,000.00 | -669,000.00 | -1,317,000.00 | 248,000.00 | 1,185,000.00 |
| Net Issuance/Repurchase of Equity | -304,000.00 | -1,508,000.00 | -125,000.00 | -481,000.00 | -650,000.00 |
| Dividends Paid | 0 | -2,743,000.00 | 0 | 0 | 0 |
| Other Financing Activities | -74,000.00 | -99,000.00 | -281,000.00 | 0.00 | -67,000.00 |
| Net Change in Cash | 728,000.00 | -3,158,000.00 | 2,101,000.00 | -823,000.00 | 2,333,000.00 |
| Cash at Beginning of Period | 7,942,000.00 | 11,345,000.00 | 9,609,000.00 | 10,005,000.00 | 7,870,000.00 |
| Cash at End of Period | 8,554,000.00 | 7,942,000.00 | 11,345,000.00 | 9,609,000.00 | 10,005,000.00 |
| Free Cash Flow | 1,301,000.00 | 2,386,000.00 | 3,613,000.00 | -819,000.00 | 1,240,000.00 |