Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 11.14 8.83 9.84 11.24
Price to Sales 3.81 3.14 3.56 3.64
Book Value Per Common Share 36.08 33.57 30.38 30.66
Price to Book 1.06 1.00 1.13 1.03
Price to Operating Cash Flow 8.43 7.44 5.54 5.77
Price to Free Cash Flow 8.58 7.72 5.63 5.87
Enterprise Value to EBITDA
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31
Price to Earnings 41.31 45.57 42.59 44.23 49.38 37.10 39.12
Price to Sales 305.36 315.96 338.36 15.50 342.61 271.02 289.27
Book Value Per Common Share 38.47 37.70 37.06 36.08 35.96 34.54 33.87
Price to Book 0.98 1.00 1.00 1.06 1.17 0.97 0.95
Price to Operating Cash Flow 20.84 51.26 49.41 26.69 21.72 28.59 26.42
Price to Free Cash Flow 52.57 27.12 26.79
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY -9.40 8.98 23.92
Revenue YoY -5.69 8.82 9.75
EBITDA YoY
Net Profit YoY -9.25 7.02 23.02
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31
Earning YoY 9.64 -4.60 0.67 1.67 -5.56 9.76
Revenue YoY 2.92 9.55 -95.56 1912.14 -0.53 11.29
EBITDA YoY
Net Profit YoY 9.60 -4.49 1.02 1.46 -5.18 10.03

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share
Quick Ratio
Current Ratio
Debt to Equity 6.00 6.44 6.69 6.86
Long-Term Debt to Equity
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31
Cash Per Common Share 5.15 5.33 5.57 6.08 6.55 5.46
Quick Ratio
Current Ratio
Debt to Equity 5.65 5.79 5.85 6.00 5.97 6.29 6.37
Long-Term Debt to Equity

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 1.36 1.51 1.48 1.16
ROE 9.51 11.27 11.41 9.11
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin 34.19 35.53 36.13 32.23
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31
ROA 0.36 0.33 0.34 0.34 0.34 0.36 0.33
ROE 2.37 2.21 2.36 2.40 2.37 2.60 2.41
Gross Margin
Operating Margin 1825.88 1794.20 1987.25 1886.52 1750.44 1790.37
EBITDA Margin
Net Profit Margin 740.41 695.29 797.54 35.05 695.18 729.28 737.64

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 38.84 34.37 34.74 40.35
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31
Dividend Yield 0.00
Dividend Payout Ratio 39.36

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 9,657,972.00 9,551,526.00 9,110,567.00 9,488,529.00
      Cash and Short-Term Investments 0 0 0 0
            Cash and Cash Equivalents 244,820.00 233,612.00 210,009.00 922,215.00
            Short-Term Investments 987,591.00 970,391.00 1,002,778.00 910,793.00
      Net Receivables 0 0 0 0
      Inventory 0 0 0 0
      Other Current Assets 0 0 0 0
      Property, Plant, Equipment Net 45,033.00 49,006.00 49,285.00 52,632.00
      Goodwill 373,424.00 373,424.00 373,424.00 373,424.00
      Intangible Assets 3,055.00 4,059.00 5,378.00 6,895.00
      Long-Term Investments 987,591.00 970,391.00 1,002,778.00 910,793.00
      Non-Current Deferred Assets 0 0 0 0
      Other Non-Current Assets 0 0 0 0
Liabilities 8,277,678.00 8,268,081.00 7,925,908.00 8,282,075.00
      Payables and Expenses 0 0 0 0
            Account Payables 0 0 0 0
            Current Accrued Liabilities 0 0 0 0
      Short-Term Debt 150,000.00 415,000.00 370,000.00 0
      Other Current Liabilities 0 0 0 0
      Long-Term Debt 100,314.00 88,635.00 69,194.00 76,823.00
      Other Non-Current Liabilities 0 0 0 0
Equity 1,380,294.00 1,283,445.00 1,184,659.00 1,206,454.00
   Shareholders Equity 1,380,294.00 1,283,445.00 1,184,659.00 1,206,454.00
      Capital Stock 103,623.00 103,623.00 103,623.00 103,623.00
      Share Premium 411,785.00 409,034.00 406,283.00 403,095.00
      Retained Earnings 1,039,035.00 959,604.00 863,948.00 773,659.00
      Treasury Shares 97,157.00 97,915.00 77,070.00 66,833.00
      Accumulated Other Comprehensive Income -76,992.00 -90,901.00 -112,125.00 -7,090.00
   Minority Interest 0 0 0 0
Debt 250,314.00 503,635.00 439,194.00 76,823.00
Net Debt 5,494.00 270,023.00 229,185.00 0
Common Shares Outstanding 38,259.45 38,232.81 38,999.73 39,351.19
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 383,889.00 407,030.00 374,042.00 340,809.00
Interest Income 514,816.00 475,587.00 340,188.00 288,759.00
Interest Expense 181,066.00 128,491.00 24,968.00 13,149.00
Non-Interest Expense 218,938.00 210,334.00 196,746.00 188,925.00
   Selling, General and Administrative Expenses 132,542.00 122,072.00 111,675.00 108,991.00
EBT 164,818.00 178,804.00 168,930.00 135,668.00
Income Tax 33,553.00 34,023.00 33,410.00 25,325.00
Net Income Including Non-Controlling Interests 131,265.00 144,781.00 135,520.00 110,343.00
Net Income 131,252.00 144,625.00 135,139.00 109,851.00
Deprecation and Amortization 10,865.00 7,520.00 9,027.00 11,480.00
EPS 0.00 0.00 0.00 0.00
Diluted EPS 0.00 0.00 0.00 0.00
Average Shares Outstanding Basic 38,259.45 38,232.81 38,999.73 39,351.19
Average Shares Outstanding Diluted 38,523.69 38,655.40 39,030.93 39,351.19
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 173,367.00 171,749.00 240,525.00 214,852.00
   Operating Net Income 131,265.00 144,781.00 135,520.00 110,343.00
   Deprecation and Amortization 10,865.00 7,520.00 9,027.00 11,480.00
   Deferred Income Tax -296.00 601.00 -2,932.00 2,383.00
   Share Based Compensation 4,622.00 3,874.00 3,188.00 2,427.00
   Change in Working Capital 15,596.00 -3,450.00 83,044.00 49,735.00
   Other Operating Activities 11,315.00 18,423.00 12,678.00 38,484.00
Investing Cash Flow -118,292.00 -444,219.00 -398,678.00 13,239.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE -2,936.00 -5,509.00 -3,702.00 -3,597.00
   Net Purchase/Sale of Investments Net -29,025.00 35,744.00 -209,825.00 -166,795.00
   Net Purchase/Sale of Business 0 0 0 0
   Other Investing Activities 0 0 0 183,631.00
Financing Cash Flow -43,867.00 296,073.00 -554,053.00 464,458.00
   Net Issuance/Repayment of Debt -253,381.00 64,536.00 277,820.00 -66,673.00
   Net Issuance/Repurchase of Equity -870.00 -20,606.00 -8,445.00 -630.00
   Dividends Paid -50,974.00 -49,708.00 -46,952.00 -44,325.00
   Other Financing Activities 261,358.00 301,851.00 -776,476.00 576,086.00
Net Change in Cash 11,208.00 23,603.00 -712,206.00 692,549.00
   Cash at Beginning of Period 233,612.00 210,009.00 922,215.00 229,666.00
   Cash at End of Period 244,820.00 233,612.00 210,009.00 922,215.00
Free Cash Flow 170,373.00 165,530.00 236,662.00 211,241.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31
Assets 9,817,483.00 9,810,069.00 9,718,276.00 9,657,972.00 9,583,947.00 9,635,462.00 9,539,103.00
   Deposits 12,909,283.00 12,921,243.00 12,811,653.00 0 12,378,921.00 12,364,766.00 12,163,038.00
      Cash and Short-Term Investments 197,547.00 204,282.00 212,997.00 0 232,545.00 250,429.00 208,397.00
            Cash and Cash Equivalents 196,228.00 203,118.00 211,836.00 244,820.00 228,090.00 246,310.00 207,462.00
            Short-Term Investments 1,319.00 1,164.00 1,161.00 987,591.00 4,455.00 4,119.00 935.00
      Net Receivables 0 0 0 0 0 0 0
      Inventory 0 0 0 0 0 0 0
      Other Current Assets 0 0 0 0 0 0 0
      Property, Plant, Equipment Net 44,146.00 45,019.00 45,319.00 45,033.00 45,917.00 46,959.00 47,956.00
      Goodwill 373,424.00 373,424.00 373,424.00 373,424.00 373,424.00 373,424.00 373,424.00
      Intangible Assets 2,450.00 2,656.00 2,813.00 3,055.00 3,173.00 0 0
      Long-Term Investments 0 0 0 987,591.00 0 0 0
      Non-Current Deferred Assets 0 0 0 0 0 0 0
      Other Non-Current Assets 0 0 0 0 0 0 0
Liabilities 8,342,017.00 8,364,576.00 8,300,242.00 8,277,678.00 8,208,193.00 8,314,019.00 8,244,029.00
      Payables and Expenses 0 0 0 0 0 0 0
            Account Payables 0 0 0 0 0 0 0
            Current Accrued Liabilities 0 0 0 0 0 0 0
      Short-Term Debt 135,000.00 150,000.00 95,000.00 150,000.00 225,000.00 275,000.00 285,000.00
      Other Current Liabilities 0 0 0 0 0 0 0
      Long-Term Debt 49,463.00 49,448.00 49,433.00 100,314.00 49,403.00 49,388.00 49,373.00
      Other Non-Current Liabilities 0 0 0 0 0 0 0
Equity 1,475,466.00 1,445,493.00 1,418,034.00 1,380,294.00 1,375,754.00 1,321,443.00 1,295,074.00
   Shareholders Equity 1,475,466.00 1,445,493.00 1,418,034.00 1,380,294.00 1,375,754.00 1,321,443.00 1,295,074.00
      Capital Stock 103,623.00 103,623.00 103,623.00 103,623.00 103,623.00 103,623.00 103,623.00
      Share Premium 411,689.00 410,891.00 412,787.00 411,785.00 410,752.00 409,874.00 409,857.00
      Retained Earnings 1,100,028.00 1,078,166.00 1,059,367.00 1,039,035.00 1,019,033.00 999,115.00 977,195.00
      Treasury Shares -94,684.00 -94,785.00 -97,108.00 97,157.00 -97,146.00 -97,235.00 -97,904.00
      Accumulated Other Comprehensive Income -45,190.00 -52,402.00 -60,635.00 -76,992.00 -60,508.00 -93,934.00 -97,697.00
   Minority Interest 0 0 0 0 0 0 0
Investments 15,042.00 15,817.00 13,445.00 0 11,484.00 12,056.00 13,703.00
Debt 235,299.00 250,304.00 195,309.00 250,314.00 338,418.00 363,422.00 373,529.00
Net Debt 37,752.00 46,022.00 0 5,494.00 105,873.00 112,993.00 165,132.00
Common Shares Outstanding 38,350.50 38,345.45 38,261.30 38,259.45 38,259.73 38,256.20 38,233.28
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31
Revenues 4,722.00 4,588.00 4,188.00 94,329.00 4,688.00 4,713.00 4,235.00
Interest Income 131,623.00 128,906.00 124,848.00 127,665.00 131,474.00 128,765.00 127,754.00
Interest Expense 42,382.00 42,334.00 41,525.00 44,621.00 46,997.00 39,629.00 36,662.00
Net Interest 89,241.00 86,572.00 83,323.00 0 84,477.00 83,594.00 83,477.00
Non-Interest Income 13,763.00 13,500.00 10,429.00 0 11,877.00 13,305.00 12,830.00
Non-Interest Expense -56,376.00 -58,114.00 -55,091.00 55,445.00 -55,365.00 -53,608.00 -54,520.00
   Selling, General and Administrative Expenses 13,457.00 14,188.00 13,627.00 33,483.00 13,316.00 12,104.00 14,358.00
EBT 43,836.00 39,984.00 41,701.00 41,346.00 41,443.00 42,869.00 39,160.00
Income Tax 8,874.00 8,084.00 8,300.00 8,281.00 8,853.00 8,498.00 7,921.00
Net Income Including Non-Controlling Interests 0 0 0 33,065.00 0 0 0
Net Income 34,962.00 31,900.00 33,401.00 33,065.00 32,590.00 34,371.00 31,239.00
EBIT 86,218.00 82,318.00 83,226.00 0 88,440.00 82,498.00 75,822.00
Deprecation and Amortization 0.00 0.00 0.00 0 0.00 0.00 0.00
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 38,346.95 38,337.85 38,260.75 38,259.45 38,255.18 38,243.86 38,192.24
Average Shares Outstanding Diluted 38,595.12 38,637.40 38,599.66 38,570.78 38,560.41 38,531.69 38,431.75
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31
Operating Cash Flow 69,181.00 28,284.00 28,692.00 54,782.00 73,917.00 44,668.00 46,378.00
   Operating Net Income 0.00 0.00 0 0 0.00 0.00 0
   Deprecation and Amortization 0.00 0.00 0 0 0.00 0.00 0
   Deferred Income Tax 0.00 0.00 0 0 0.00 0.00 0
   Share Based Compensation 0.00 0.00 0 0 0.00 0.00 0
   Change in Working Capital 0.00 0.00 0 0 0.00 0.00 0
   Other Operating Activities 69,181.00 28,284.00 28,692.00 54,782.00 73,917.00 44,668.00 46,378.00
Investing Cash Flow -123,608.00 -105,298.00 -103,414.00 -65,175.00 9,119.00 -62,236.00 -8,338.00
   Capital Expenditure 0.00 0.00 -1,726.00 0 0.00 0.00 -643.00
   Net Purchase/Sale of PPE -2,330.00 -1,190.00 -1,726.00 -858.00 -1,229.00 -849.00 -533.00
   Net Purchase/Sale of Investments Net 20,244.00 -813.00 -8,349.00 -7,052.00 -10,583.00 -4,848.00 -7,151.00
   Net Purchase/Sale of Business 0.00 0.00 0 0 0.00 0.00 0
   Net Loan & Lease Activity 0 0 0 0
   Other Investing Activities 946.00 -4,313.00 1,699.00 -57,265.00 16,463.00 473.00 17,993.00
Financing Cash Flow 14,553.00 68,296.00 41,738.00 27,123.00 -127,406.00 56,416.00 -64,190.00
   Net Issuance/Repayment of Debt -40.00 -20.00 -20.00 -88,119.00 24,860.00 -122.00 -121.00
   Net Issuance/Repurchase of Equity -170.00 -1,495.00 -41.00 -21.00 -105.00 -744.00 -37.00
   Dividends Paid 26,076.00 13,176.00 13,017.00 -13,013.00 25,252.00 12,709.00 12,616.00
   Other Financing Activities -11,313.00 56,635.00 28,782.00 128,276.00 -177,413.00 44,573.00 -76,648.00
Net Change in Cash -39,874.00 -8,718.00 -32,984.00 16,730.00 -44,370.00 38,848.00 -26,150.00
   Cash at Beginning of Period 236,102.00 211,836.00 244,820.00 228,090.00 272,460.00 207,462.00 233,612.00
   Cash at End of Period 196,228.00 203,118.00 211,836.00 244,820.00 228,090.00 246,310.00 207,462.00
Free Cash Flow 0.00 0.00 26,966.00 53,922.00 0.00 0.00 45,735.00