Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings -5.40 -22.42 17.03 10.41
Price to Sales 1.41 1.53 2.82 2.54
Book Value Per Common Share 15.35 16.62 17.32 16.70
Price to Book 0.45 0.65 0.90 1.06
Price to Operating Cash Flow 35.10 5.18 20.13 6.16
Price to Free Cash Flow -13.62 11.01 138.55 8.44
Enterprise Value to EBITDA 73362.82 56665.48
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31
Price to Earnings 76.31 28.95 34.59 113.60 108.00 67.97
Price to Sales 12.83 6.37 6.41 4.46 9.93 13.01
Book Value Per Common Share 16.41 16.08 15.64 15.35 15.34 16.62 17.39 17.32 16.91 16.70
Price to Book 1.49 0.79 0.64 0.45 0.37 0.65 0.87 0.90 1.29 1.06
Price to Operating Cash Flow 86.63 16.37 23.94 -847.76 1050.00 74.33
Price to Free Cash Flow -2069.49 26.26 51.67 -33.67 -55.49 166.92
Enterprise Value to EBITDA 476234.22 197002.27 77418.62 283213.29 371967.79 270420.64

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY -45.88
Revenue YoY -30.23 24.29 -22.13
EBITDA YoY -33.30
Net Profit YoY -47.26
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31
Earning YoY -27.27 51.72 480.00 0.00 -56.25
Revenue YoY -4.84 28.06 23.03 -11.49
EBITDA YoY -20.71 -50.02 547.35 -50.90
Net Profit YoY -27.35 53.24 456.80 -55.87

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 2.06 2.53 3.53 4.99
Quick Ratio 2.48 3.84 3.03 4.15
Current Ratio 4.70 7.01 4.93 5.64
Debt to Equity 0.31 0.25 0.27 0.29
Long-Term Debt to Equity 0.26 0.21 0.21 0.22
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31
Cash Per Common Share 2.20 2.16 1.69 2.06 1.81 2.53 3.05 3.53 4.86 4.99
Quick Ratio 1.13 1.16 1.77 2.48 1.89 3.84 3.15 3.03 4.19 4.15
Current Ratio 2.41 2.39 3.95 4.70 3.91 7.01 5.35 4.93 6.02 5.64
Debt to Equity 0.43 0.42 0.41 0.31 0.30 0.25 0.27 0.27 0.28 0.29
Long-Term Debt to Equity 0.30 0.30 0.35 0.26 0.24 0.21 0.20 0.21 0.21 0.22

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA -5.04 -1.82 3.69 7.06
ROE -6.62 -2.28 4.71 9.08
Gross Margin -3.26 -69.07 -5.91 54.46
Operating Margin -117.82 -27.21 22.64 29.43
EBITDA Margin -104.75 -12.21 38.45 44.89
Net Profit Margin -26.24 -6.87 16.91 24.97
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31
ROA 1.11 1.55 1.04 0.21 0.57 1.30
ROE 1.58 2.20 1.47 0.27 0.72 1.65
Gross Margin 49.75 53.34 -29.47 34.44 -26.69 56.81
Operating Margin 19.64 25.87 73.21 3.92 11.71 31.57
EBITDA Margin 26.95 32.34 82.87 15.75 26.68 48.10
Net Profit Margin 16.96 22.22 18.57 4.10 9.48 19.01

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Dividend Yield 0.00
Dividend Payout Ratio 3.32
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31
Dividend Yield 0.00
Dividend Payout Ratio 45.55

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 5,189,020.00 5,385,773.00 5,254,657.00 5,211,438.00
   Current Assets 1,029,034.00 1,196,476.00 1,376,435.00 1,600,314.00
      Cash and Short-Term Investments 417,347.00 513,438.00 729,386.00 1,057,993.00
            Cash and Cash Equivalents 387,882.00 492,494.00 689,106.00 1,017,562.00
            Short-Term Investments 29,465.00 20,944.00 40,280.00 40,431.00
      Net Receivables 124,438.00 142,180.00 117,675.00 121,356.00
      Inventory 464,074.00 515,143.00 501,607.00 389,416.00
      Other Current Assets 23,175.00 25,715.00 27,767.00 31,549.00
   Non-Current Assets 4,159,986.00 4,189,297.00 3,878,222.00 3,611,124.00
      Property, Plant, Equipment Net 18,455.00 3,893,924.00 3,567,392.00 3,257,294.00
      Goodwill 0 0 49,786.00 49,786.00
      Intangible Assets 0 0 0 0
      Long-Term Investments 34.00 127.00 395.00 4,918.00
      Non-Current Deferred Assets -7,602.00 -22,307.00 -1,915.00 -8,501.00
      Other Non-Current Assets 4,149,099.00 317,553.00 262,564.00 307,627.00
Liabilities 1,242,159.00 1,081,570.00 1,128,458.00 1,158,921.00
   Current Liabilities 218,877.00 170,573.00 279,252.00 283,882.00
      Payables and Expenses 102,314.00 103,573.00 147,183.00 87,050.00
            Account Payables 30,538.00 37,095.00 78,929.00 34,844.00
            Current Accrued Liabilities 71,776.00 66,478.00 68,254.00 52,206.00
      Short-Term Debt 4,792.00 5,475.00 75,669.00 83,930.00
      Other Current Liabilities 111,771.00 61,525.00 56,400.00 112,902.00
   Non-Current Liabilities 1,023,282.00 910,997.00 849,206.00 875,039.00
      Long-Term Debt 309,945.00 313,657.00 328,944.00 401,458.00
      Other Non-Current Liabilities 713,337.00 597,340.00 520,262.00 473,581.00
Equity 3,946,861.00 4,304,203.00 4,126,199.00 4,052,517.00
   Shareholders Equity 3,107,043.00 3,373,080.00 3,579,737.00 3,537,856.00
      Capital Stock 2,993,678.00 3,005,015.00 3,057,920.00 3,140,189.00
      Share Premium 0 0 0 0
      Retained Earnings 113,365.00 368,065.00 521,817.00 397,667.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income 0 0 0 0
   Minority Interest 839,818.00 931,123.00 546,462.00 514,661.00
Investments 29,499.00 21,071.00 40,675.00 45,349.00
Debt 314,737.00 319,132.00 404,613.00 485,388.00
Common Shares Outstanding 202,369.00 202,952.00 206,653.00 211,879.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 995,618.00 1,426,927.00 1,148,033.00 1,474,199.00
Cost Of Revenue 1,028,064.00 2,412,441.00 1,215,884.00 671,374.00
Gross Profit -32,446.00 -985,514.00 -67,851.00 802,825.00
Operating Expenses 870,098.00 -670,374.00 -258,119.00 358,450.00
   Selling, General and Administrative Expenses 62,885.00 67,457.00 71,660.00 56,594.00
   Other Operating Expenses 807,213.00 -737,831.00 -329,779.00 301,856.00
Operating Income -902,544.00 -315,140.00 190,268.00 444,375.00
Net Non-Operating Income -304,439.00 -89,676.00 50,567.00 -29,617.00
Interest Income 50,633.00 39,230.00 35,427.00 21,036.00
Interest Expense 33,898.00 16,616.00 19,116.00 19,097.00
Net Interest 16,735.00 22,614.00 16,311.00 1,939.00
EBT -1,206,983.00 -404,816.00 240,835.00 414,758.00
Income Tax 33,302.00 82,534.00 30,068.00 14,116.00
Equity Method Investments Income -546.00 351.00 339.00 2,952.00
Net Income Including Non-Controlling Interests -352,582.00 -120,225.00 210,428.00 425,922.00
Net Income Non-Controlling Interests 91,305.00 22,218.00 -16,288.00 -57,846.00
Net Income -261,277.00 -98,007.00 194,140.00 368,076.00
EBIT -1,173,085.00 -388,200.00 259,951.00 433,855.00
Deprecation and Amortization 130,192.00 214,012.00 181,447.00 227,959.00
EBITDA -1,042,893.00 -174,188.00 441,398.00 661,814.00
EPS -0.00 -0.00 0.00 0.00
Diluted EPS -0.00 -0.00 0.00 0.00
Average Shares Outstanding Basic 0 0 0 0
Average Shares Outstanding Diluted 202,258.00 204,714.00 222,481.00 228,241.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 40,130.00 421,725.00 160,896.00 608,986.00
   Operating Net Income -352,582.00 -120,225.00 210,428.00 425,922.00
   Deprecation and Amortization 130,192.00 214,012.00 181,447.00 227,959.00
   Deferred Income Tax -21,870.00 -134,843.00 -67,932.00 -130,570.00
   Share Based Compensation 4,724.00 5,170.00 6,473.00 14,799.00
   Change in Working Capital 72,265.00 134,147.00 147,270.00 29,295.00
   Other Operating Activities 207,401.00 323,464.00 -316,790.00 41,581.00
Investing Cash Flow -143,116.00 -339,261.00 -236,282.00 -129,137.00
   Capital Expenditure -143,534.00 -223,422.00 -137,515.00 -164,810.00
   Net Purchase/Sale of PPE -138,681.00 -223,422.00 -102,448.00 -162,305.00
   Net Purchase/Sale of Investments Net -4,435.00 4,086.00 36,230.00 568.00
   Net Purchase/Sale of Business 0 0 0 32,600.00
   Other Investing Activities 143,534.00 103,497.00 -32,549.00 164,810.00
Financing Cash Flow 6,918.00 -182,256.00 -271,782.00 -319,769.00
   Net Issuance/Repayment of Debt 16,743.00 -75,023.00 -81,246.00 -80,441.00
   Net Issuance/Repurchase of Equity 9,825.00 56,523.00 102,668.00 156,853.00
   Dividends Paid 0 57,670.00 24,279.00 -12,231.00
   Other Financing Activities -19,650.00 -221,426.00 -317,483.00 -383,950.00
Net Change in Cash -104,612.00 -196,612.00 -363,759.00 156,944.00
   Cash at Beginning of Period 492,494.00 689,106.00 1,052,865.00 895,921.00
   Cash at End of Period 387,882.00 492,494.00 689,106.00 1,052,865.00
Free Cash Flow -103,404.00 198,303.00 23,381.00 444,176.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31
Assets 5,907,813.00 5,795,877.00 5,644,508.00 5,189,020.00 5,143,919.00 5,385,773.00 5,234,803.00 5,254,657.00 5,212,663.00 5,211,438.00
   Current Assets 1,206,074.00 1,147,390.00 1,024,794.00 1,029,034.00 996,469.00 1,196,476.00 1,342,308.00 1,376,435.00 1,677,539.00 1,600,314.00
      Cash and Short-Term Investments 445,420.00 438,493.00 341,289.00 417,347.00 365,752.00 513,438.00 629,521.00 729,386.00 1,033,221.00 1,057,993.00
            Cash and Cash Equivalents 409,332.00 412,104.00 319,612.00 387,882.00 334,341.00 492,494.00 595,812.00 689,106.00 998,986.00 1,017,562.00
            Short-Term Investments 36,088.00 26,389.00 21,677.00 29,465.00 31,411.00 20,944.00 33,709.00 40,280.00 34,235.00 40,431.00
      Net Receivables 121,652.00 117,054.00 117,496.00 124,438.00 114,794.00 142,180.00 161,748.00 117,675.00 132,679.00 121,356.00
      Inventory 586,162.00 568,743.00 544,333.00 464,074.00 494,618.00 515,143.00 519,194.00 501,607.00 419,749.00 389,416.00
      Other Current Assets 52,840.00 23,100.00 21,676.00 23,175.00 21,305.00 25,715.00 31,845.00 27,767.00 91,890.00 31,549.00
   Non-Current Assets 4,701,739.00 4,648,487.00 4,619,714.00 4,159,986.00 4,147,450.00 4,189,297.00 3,892,495.00 3,878,222.00 3,535,124.00 3,611,124.00
      Property, Plant, Equipment Net 4,116,070.00 4,100,112.00 0 18,455.00 3,797,671.00 3,893,924.00 3,549,020.00 3,567,392.00 3,163,731.00 3,257,294.00
      Goodwill 0 0 0 0 0 0 49,786.00 49,786.00 49,786.00 49,786.00
      Intangible Assets 0 0 0 0 0 0 0 0 0 0
      Long-Term Investments 0 0 0 34.00 110.00 127.00 395.00 395.00 4,665.00 4,918.00
      Non-Current Deferred Assets 11,301.00 5,578.00 5,770.00 -7,602.00 19,937.00 -22,307.00 1,915.00 -1,915.00 11,809.00 -8,501.00
      Other Non-Current Assets 0 0 4,613,944.00 4,149,099.00 329,732.00 317,553.00 291,379.00 262,564.00 305,133.00 307,627.00
Liabilities 1,763,320.00 1,710,266.00 1,640,900.00 1,242,159.00 1,195,162.00 1,081,570.00 1,096,992.00 1,128,458.00 1,126,572.00 1,158,921.00
   Current Liabilities 501,007.00 480,832.00 259,601.00 218,877.00 254,895.00 170,573.00 250,962.00 279,252.00 278,501.00 283,882.00
      Payables and Expenses 200,668.00 185,849.00 118,507.00 102,314.00 138,377.00 103,573.00 136,531.00 147,183.00 93,993.00 87,050.00
            Account Payables 41,203.00 37,249.00 41,820.00 30,538.00 26,749.00 37,095.00 80,209.00 78,929.00 55,635.00 34,844.00
            Current Accrued Liabilities 101,647.00 86,938.00 76,687.00 71,776.00 86,081.00 66,478.00 56,322.00 68,254.00 38,358.00 52,206.00
      Short-Term Debt 247,856.00 247,055.00 15,846.00 4,792.00 17,310.00 5,475.00 57,277.00 75,669.00 74,933.00 83,930.00
      Other Current Liabilities 52,483.00 47,928.00 125,248.00 111,771.00 99,208.00 61,525.00 57,154.00 56,400.00 109,575.00 112,902.00
   Non-Current Liabilities 1,262,313.00 1,229,434.00 1,381,299.00 1,023,282.00 940,267.00 910,997.00 846,030.00 849,206.00 848,071.00 875,039.00
      Long-Term Debt 119,711.00 109,576.00 101,526.00 309,945.00 324,820.00 313,657.00 328,175.00 328,944.00 383,272.00 401,458.00
      Other Non-Current Liabilities 1,142,602.00 1,119,858.00 1,279,773.00 713,337.00 615,447.00 597,340.00 517,855.00 520,262.00 464,799.00 473,581.00
Equity 4,144,493.00 4,085,611.00 4,003,608.00 3,946,861.00 3,948,757.00 4,304,203.00 4,137,811.00 4,126,199.00 4,086,091.00 4,052,517.00
   Shareholders Equity 3,327,072.00 3,259,841.00 3,168,125.00 3,107,043.00 3,100,249.00 3,373,080.00 3,592,158.00 3,579,737.00 3,593,660.00 3,537,856.00
      Capital Stock 2,999,410.00 2,997,620.00 2,995,979.00 2,993,678.00 2,992,439.00 3,005,015.00 3,055,062.00 3,057,920.00 3,143,445.00 3,140,189.00
      Share Premium 0 0 0 0 0 0 0 0 0 0
      Retained Earnings 327,662.00 262,221.00 172,146.00 113,365.00 107,810.00 368,065.00 537,096.00 521,817.00 450,215.00 397,667.00
      Treasury Shares 0 0 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income 0 0 0 0 0 0 0 0 0 0
   Minority Interest 817,421.00 825,770.00 835,483.00 839,818.00 848,508.00 931,123.00 545,653.00 546,462.00 492,431.00 514,661.00
Investments 0 0 21,677.00 29,499.00 0 21,071.00 34,104.00 40,675.00 38,900.00 45,349.00
Debt 367,567.00 356,631.00 117,372.00 314,737.00 342,130.00 319,132.00 385,452.00 404,613.00 458,205.00 485,388.00
Common Shares Outstanding 202,786.00 202,780.00 202,538.00 202,369.00 202,109.00 202,952.00 206,520.00 206,653.00 212,557.00 211,879.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-06-30 2023-03-31 2022-03-31
Revenues 385,839.00 405,455.00 316,618.00 257,356.00 0 314,614.00 355,446.00
Cost Of Revenue 193,900.00 189,185.00 409,923.00 168,724.00 0 398,594.00 153,520.00
Interest Income 3,180.00 3,023.00 2,997.00 3,881.00 0 12,706.00 5,860.00
Interest Expense 3,584.00 4,227.00 3,369.00 2,942.00 0 5,060.00 4,295.00
Net Interest 0 0 2,997.00 0 0 7,646.00 1,565.00
Non-Interest Expense 40,228.00 26,634.00 0 19,016.00 0 0 0
Gross Profit 191,939.00 216,270.00 -93,305.00 88,632.00 0 -83,980.00 201,926.00
Operating Expenses 96,203.00 142,114.00 -327,469.00 77,160.00 0 -120,965.00 86,056.00
   Selling, General and Administrative Expenses 40,228.00 26,634.00 23,894.00 19,016.00 0 18,541.00 16,239.00
   Other Operating Expenses 18,128.00 77,283.00 -351,363.00 13,905.00 0 -139,506.00 69,817.00
Operating Income 95,736.00 74,156.00 234,164.00 11,472.00 0 36,985.00 115,870.00
Net Non-Operating Income -647.00 -1,606.00 -5,750.00 2,158.00 0 -5,193.00 -7,949.00
EBT 72,181.00 100,672.00 228,414.00 7,149.00 0 31,792.00 107,921.00
Income Tax 14,950.00 20,233.00 9,138.00 869.00 0 2,788.00 31,562.00
Equity Method Investments Income 0 0 -210.00 0 0 0 253.00
Net Income Including Non-Controlling Interests 57,092.00 80,362.00 54,446.00 6,251.00 0 29,004.00 76,106.00
Net Income Non-Controlling Interests 8,349.00 9,713.00 4,335.00 4,306.00 0 809.00 -8,543.00
Net Income 65,441.00 90,075.00 58,781.00 10,557.00 0 29,813.00 67,563.00
EBIT 75,765.00 104,899.00 231,783.00 10,091.00 0 36,852.00 112,216.00
Deprecation and Amortization 28,218.00 26,237.00 30,613.00 30,443.00 0 47,095.00 58,742.00
EBITDA 103,983.00 131,136.00 262,396.00 40,534.00 0 83,947.00 170,958.00
EPS 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
Average Shares Outstanding Basic 202,783.00 202,774.00 202,420.00 202,140.00 202,133.00 0 0
Average Shares Outstanding Diluted 217,464.00 216,989.00 216,546.00 202,447.00 202,407.00 219,403.00 224,736.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2023-03-31 2022-03-31
Operating Cash Flow 57,156.00 157,841.00 84,805.00 -1,348.00 2,967.00 62,187.00
   Operating Net Income 57,092.00 80,362.00 54,446.00 6,251.00 29,004.00 76,106.00
   Deprecation and Amortization 28,218.00 26,237.00 30,613.00 30,443.00 47,095.00 58,742.00
   Deferred Income Tax -8,186.00 -9,852.00 -11,300.00 -300.00 -1,977.00 -16,404.00
   Share Based Compensation 23,596.00 7,099.00 9,963.00 3,536.00 2,047.00 4,849.00
   Change in Working Capital -74,894.00 -38,175.00 20,149.00 -15,158.00 87,902.00 68,580.00
   Other Operating Activities 31,330.00 92,170.00 -19,066.00 -26,120.00 -161,104.00 -129,686.00
Investing Cash Flow -63,602.00 -68,503.00 -154,250.00 -35,094.00 -51,881.00 -27,885.00
   Capital Expenditure 0 0 -45,507.00 0 -59,242.00 -34,492.00
   Net Purchase/Sale of PPE -59,557.00 -59,455.00 -45,507.00 -32,750.00 -59,242.00 -34,492.00
   Net Purchase/Sale of Investments Net -6,822.00 -9,956.00 246.00 -2,115.00 7,361.00 6,607.00
   Net Purchase/Sale of Business 2,776.00 253.00 -108,989.00 -454.00 0 0
   Other Investing Activities 1.00 655.00 45,507.00 225.00 59,242.00 34,492.00
Financing Cash Flow 10,196.00 7,856.00 2,675.00 13,942.00 -38,189.00 -53,449.00
   Net Issuance/Repayment of Debt 10,196.00 8,109.00 2,422.00 13,942.00 -18,752.00 -25,074.00
   Net Issuance/Repurchase of Equity 0 0 0 0 5,405.00 2,398.00
   Dividends Paid 0 0 0 0 14,448.00 -30,773.00
   Other Financing Activities 0 0 253.00 0.00 -39,290.00 0.00
Net Change in Cash 3,750.00 97,194.00 -68,270.00 -22,500.00 -93,294.00 -18,564.00
   Cash at Beginning of Period 412,104.00 319,612.00 387,882.00 358,408.00 689,106.00 1,052,865.00
   Cash at End of Period 409,332.00 412,104.00 319,612.00 334,341.00 595,812.00 1,034,301.00
Free Cash Flow -2,401.00 98,386.00 39,298.00 -34,098.00 -56,275.00 27,695.00