Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 3.61 5.82 4.68 -2.99
Price to Sales 1.94 2.37 1.91 1.30
Book Value Per Common Share 57.41 48.09 40.92 31.47
Price to Book 0.87 1.26 1.31 0.41
Price to Operating Cash Flow 2.92 3.68 3.88 9.56
Price to Free Cash Flow 3.30 3.78 4.06 26.75
Enterprise Value to EBITDA 26226.85 35530.61 33073.79 53910.84
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings 30.97 24.61 29.83 33.57 21.54
Price to Sales 10.82 7.87 8.11 11.29 12.76
Book Value Per Common Share 59.39 58.65 58.52 57.41 56.88
Price to Book 0.94 0.67 0.64 0.87 1.25
Price to Operating Cash Flow 19.41 14.15 27.15 20.33 15.70
Price to Free Cash Flow 22.17 17.38 44.22 31.03 18.25
Enterprise Value to EBITDA 192446.78 148481.33 153131.52 216939.20 158133.01

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY 31.99 -9.14
Revenue YoY -7.25 -14.18 189.00
EBITDA YoY 4.08 -8.76 617.87
Net Profit YoY 22.29 -14.18
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY 13.84 26.19 -14.86 -55.29
Revenue YoY 4.84 7.59 4.91 -23.89
EBITDA YoY 12.13 9.75 7.13 -49.20
Net Profit YoY 14.89 26.28 -15.09 -56.80

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 8.38 6.79 6.80 4.21
Quick Ratio 2.35 1.10 1.38 0.51
Current Ratio 2.43 1.13 1.45 0.55
Debt to Equity 0.34 0.66 0.82 1.73
Long-Term Debt to Equity 0.25 0.46 0.63 1.44
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 13.98 12.24 11.64 8.78 6.03
Quick Ratio 4.09 4.76 4.07 2.35 1.90
Current Ratio 4.81 4.95 4.20 2.43 2.21
Debt to Equity 0.31 0.33 0.36 0.34 0.36
Long-Term Debt to Equity 0.25 0.28 0.30 0.25 0.27

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 17.44 12.93 13.98 -4.68
ROE 23.34 21.42 25.42 -12.76
Gross Margin 57.01 60.38 60.12 -6.98
Operating Margin 61.14 52.66 50.50 -18.77
EBITDA Margin 76.04 67.76 63.73 25.66
Net Profit Margin 53.76 40.78 40.77 -43.35
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA 2.10 1.85 1.47 1.79 4.12
ROE 2.75 2.46 1.99 2.39 5.59
Gross Margin 46.50 47.21 41.56 32.41 49.16
Operating Margin 43.26 38.71 36.37 33.89 67.01
EBITDA Margin 62.46 58.40 57.25 56.06 84.00
Net Profit Margin 34.99 31.93 27.20 33.61 59.22

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 12.49 10.54 3.66 -9.95
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Dividend Yield 0.00 0.00 0.00 0.00 0.00
Dividend Payout Ratio 24.16 27.76 34.30 29.18 13.00

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 3,833,652.00 4,228,652.00 4,559,163.00 5,013,969.00
   Current Assets 576,323.00 577,080.00 687,349.00 289,227.00
      Cash and Short-Term Investments 406,737.00 355,551.00 376,870.00 230,415.00
            Cash and Cash Equivalents 332,580.00 355,551.00 376,870.00 230,415.00
            Short-Term Investments 74,157.00 0 0 0
      Net Receivables 150,183.00 203,500.00 276,700.00 38,069.00
      Inventory 10,173.00 7,816.00 15,620.00 8,781.00
      Other Current Assets 9,230.00 10,213.00 18,159.00 11,962.00
   Non-Current Assets 3,257,329.00 3,651,572.00 3,871,814.00 4,724,742.00
      Property, Plant, Equipment Net 3,190,820.00 3,577,935.00 3,779,080.00 4,606,096.00
      Goodwill 8,197.00 8,197.00 8,197.00 8,900.00
      Intangible Assets 0 0 0 0
      Long-Term Investments 12,551.00 11,800.00 9,426.00 7,487.00
      Non-Current Deferred Assets 0 2,229.00 0 1,635.00
      Other Non-Current Assets 45,761.00 51,411.00 75,111.00 100,624.00
Liabilities 967,771.00 1,674,946.00 2,052,355.00 3,177,041.00
   Current Liabilities 237,193.00 510,404.00 473,251.00 527,841.00
      Payables and Expenses 60,935.00 37,700.00 68,998.00 56,078.00
            Account Payables 34,436.00 24,333.00 46,723.00 50,273.00
            Current Accrued Liabilities 6,530.00 9,712.00 8,199.00 5,805.00
      Short-Term Debt 131,389.00 427,722.00 352,995.00 467,855.00
      Other Current Liabilities 44,869.00 44,982.00 51,258.00 3,908.00
   Non-Current Liabilities 730,578.00 1,164,542.00 1,579,104.00 2,649,200.00
      Long-Term Debt 730,578.00 1,160,568.00 1,579,104.00 2,649,200.00
      Other Non-Current Liabilities 0.00 3,974.00 0.00 0.00
Equity 2,865,881.00 2,553,706.00 2,506,808.00 1,836,928.00
   Shareholders Equity 2,865,881.00 2,553,706.00 2,506,808.00 1,836,928.00
      Capital Stock 760.00 745.00 727.00 659.00
      Share Premium 3,159,548.00 3,097,054.00 3,049,732.00 2,855,798.00
      Retained Earnings 1,172,391.00 587,132.00 97,894.00 -539,357.00
      Treasury Shares 1,466,818.00 1,131,225.00 641,545.00 480,172.00
      Accumulated Other Comprehensive Income 0 0 0 0
   Minority Interest 0 0 0 0
Debt 861,967.00 1,588,290.00 1,932,099.00 3,117,055.00
Net Debt 456,104.00 804,602.00 0 671,272.00
Common Shares Outstanding 49,923.04 53,107.76 61,262.84 58,369.52
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 1,243,951.00 1,341,222.00 1,562,873.00 540,786.00
Cost Of Revenue 534,837.00 531,328.00 623,258.00 578,548.00
Interest Income 15,947.00 19,112.00 6,884.00 3,623.00
Interest Expense 91,778.00 159,414.00 151,947.00 132,930.00
Non-Interest Expense 121,048.00 106,255.00 88,131.00 52,746.00
Gross Profit 709,114.00 809,894.00 939,615.00 -37,762.00
Operating Expenses 121,048.00 106,255.00 88,131.00 52,746.00
   Selling, General and Administrative Expenses 121,048.00 106,255.00 88,131.00 52,746.00
Operating Income 588,066.00 703,639.00 851,484.00 -90,508.00
Net Non-Operating Income 1,275.00 -83.00 1,296.00 -3,446.00
EBT 668,774.00 546,898.00 637,251.00 -234,435.00
Income Tax 0 0 0 0
Net Income Including Non-Controlling Interests 668,774.00 546,898.00 637,251.00 -234,435.00
Net Income 668,774.00 546,898.00 637,251.00 -234,435.00
EBIT 760,552.00 706,312.00 789,198.00 -101,505.00
Deprecation and Amortization 185,319.00 202,503.00 206,835.00 240,253.00
EBITDA 945,871.00 908,815.00 996,033.00 138,748.00
EPS 0.01 0.01 0.01 -0.00
Diluted EPS 0.01 0.01 0.01 -0.00
Average Shares Outstanding Basic 48,544.14 52,369.27 55,455.28 54,718.71
Average Shares Outstanding Diluted 50,874.32 54,527.75 63,511.28 54,718.71
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 825,180.00 865,492.00 769,333.00 73,300.00
   Operating Net Income 668,774.00 546,898.00 637,251.00 -234,435.00
   Deprecation and Amortization 185,319.00 202,503.00 206,835.00 240,253.00
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 62,509.00 47,340.00 20,397.00 22,931.00
   Change in Working Capital 68,825.00 59,472.00 -175,581.00 14,337.00
   Other Operating Activities -160,247.00 9,279.00 80,431.00 30,214.00
Investing Cash Flow 307,991.00 43,611.00 571,956.00 -52,278.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE 386,411.00 41,789.00 573,213.00 -47,102.00
   Net Purchase/Sale of Investments Net -89,137.00 0 0 0
   Net Purchase/Sale of Business -1,937.00 0 -1,750.00 -6,701.00
   Other Investing Activities 12,654.00 1,822.00 493.00 0
Financing Cash Flow -1,156,142.00 -930,422.00 -1,194,834.00 21,882.00
   Net Issuance/Repayment of Debt -736,680.00 -354,174.00 -1,012,454.00 62,567.00
   Net Issuance/Repurchase of Equity -335,593.00 -489,680.00 -161,373.00 0
   Dividends Paid -83,515.00 -57,660.00 -23,313.00 -23,320.00
   Other Financing Activities -354.00 -28,908.00 2,306.00 -17,365.00
Net Change in Cash -22,971.00 -21,319.00 146,455.00 42,904.00
   Cash at Beginning of Period 355,551.00 376,870.00 230,415.00 187,511.00
   Cash at End of Period 332,580.00 355,551.00 376,870.00 230,415.00
Free Cash Flow 731,813.00 842,403.00 734,853.00 26,198.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Assets 4,029,271.00 3,978,995.00 3,972,524.00 3,833,652.00 3,848,173.00
   Current Assets 967,914.00 763,345.00 728,974.00 576,323.00 535,615.00
      Cash and Short-Term Investments 651,656.00 566,541.00 537,644.00 406,737.00 289,048.00
            Cash and Cash Equivalents 603,205.00 471,062.00 419,931.00 332,580.00 201,001.00
            Short-Term Investments 48,451.00 95,479.00 117,713.00 74,157.00 88,047.00
      Net Receivables 172,288.00 167,328.00 168,662.00 150,183.00 169,893.00
      Inventory 11,564.00 19,193.00 13,025.00 10,173.00 8,578.00
      Other Current Assets 132,406.00 10,283.00 9,643.00 9,230.00 68,096.00
   Non-Current Assets 3,061,357.00 3,215,650.00 3,243,550.00 3,257,329.00 3,312,558.00
      Property, Plant, Equipment Net 2,989,706.00 3,141,491.00 3,169,170.00 3,190,820.00 3,244,876.00
      Goodwill 8,197.00 8,197.00 8,197.00 8,197.00 8,197.00
      Intangible Assets 0 0 0 0 0
      Long-Term Investments 0 12,527.00 0 12,551.00 0
      Non-Current Deferred Assets 0 7,641.00 0 0 0
      Other Non-Current Assets 0 45,794.00 0 45,761.00 0
Liabilities 955,073.00 986,683.00 1,051,631.00 967,771.00 1,008,417.00
   Current Liabilities 201,396.00 154,185.00 173,679.00 237,193.00 241,959.00
      Payables and Expenses 70,670.00 53,299.00 80,379.00 60,935.00 106,994.00
            Account Payables 28,861.00 24,809.00 33,193.00 34,436.00 32,553.00
            Current Accrued Liabilities 41,809.00 10,428.00 47,186.00 6,530.00 74,441.00
      Short-Term Debt 130,726.00 84,180.00 93,300.00 131,389.00 134,965.00
      Other Current Liabilities 0.00 16,706.00 0.00 44,869.00 0.00
   Non-Current Liabilities 753,677.00 832,498.00 877,952.00 730,578.00 766,458.00
      Long-Term Debt 753,677.00 825,714.00 877,952.00 730,578.00 766,458.00
      Other Non-Current Liabilities 0.00 6,784.00 0.00 0.00 0.00
Equity 3,074,198.00 2,992,312.00 2,920,893.00 2,865,881.00 2,839,756.00
   Shareholders Equity 3,074,198.00 2,992,312.00 2,920,893.00 2,865,881.00 2,839,756.00
      Capital Stock 778.00 771.00 760.00 760.00 760.00
      Share Premium 3,212,762.00 3,194,929.00 3,176,623.00 3,159,548.00 3,143,101.00
      Retained Earnings 1,327,785.00 1,263,739.00 1,210,637.00 1,172,391.00 1,123,837.00
      Treasury Shares 1,467,127.00 1,467,127.00 1,467,127.00 1,466,818.00 1,427,942.00
      Accumulated Other Comprehensive Income 0 0 0 0 0
   Minority Interest 0 0 0 0 0
Debt 884,403.00 909,894.00 971,252.00 861,967.00 901,423.00
Net Debt 212,463.00 368,017.00 480,171.00 456,104.00 624,958.00
Common Shares Outstanding 51,762.79 51,016.29 49,916.54 49,923.04 49,923.04
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Revenues 241,361.00 230,225.00 213,984.00 203,969.00 267,986.00
Cost Of Revenue 129,133.00 121,532.00 125,059.00 137,856.00 136,240.00
Interest Income 5,661.00 4,691.00 4,523.00 2,970.00 2,859.00
Interest Expense 19,958.00 15,603.00 19,619.00 574.00 20,883.00
Non-Interest Expense 29,591.00 29,614.00 28,512.00 23,860.00 29,991.00
Gross Profit 112,228.00 108,693.00 88,925.00 66,113.00 131,746.00
Operating Expenses 29,591.00 29,614.00 28,512.00 23,860.00 29,991.00
   Selling, General and Administrative Expenses 29,591.00 29,614.00 28,512.00 23,860.00 29,991.00
Operating Income 82,637.00 79,079.00 60,413.00 42,253.00 101,755.00
Net Non-Operating Income 160.00 1,020.00 492.00 114.00 1,005.00
EBT 84,452.00 73,509.00 58,213.00 68,557.00 158,705.00
Income Tax 0 0 0 0 0
Net Income Including Non-Controlling Interests 84,452.00 73,509.00 58,213.00 68,557.00 158,705.00
Net Income 84,452.00 73,509.00 58,213.00 68,557.00 158,705.00
EBIT 104,410.00 89,112.00 77,832.00 69,131.00 179,588.00
Deprecation and Amortization 46,350.00 45,336.00 44,671.00 45,220.00 45,512.00
EBITDA 150,760.00 134,448.00 122,503.00 114,351.00 225,100.00
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 46,599.57 46,284.63 46,172.63 46,335.81 47,941.73
Average Shares Outstanding Diluted 48,818.29 48,006.58 47,729.90 48,020.82 50,150.72
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Operating Cash Flow 134,594.00 127,951.00 63,906.00 113,238.00 217,709.00
   Operating Net Income 84,452.00 73,509.00 58,213.00 68,557.00 158,705.00
   Deprecation and Amortization 46,350.00 45,336.00 44,671.00 45,220.00 45,512.00
   Deferred Income Tax 0 0 0 0 0
   Share Based Compensation 17,840.00 18,317.00 17,075.00 16,447.00 16,923.00
   Change in Working Capital -856.00 -2,870.00 -45,693.00 22,578.00 68,502.00
   Other Operating Activities -13,192.00 -6,341.00 -10,360.00 -39,564.00 -71,933.00
Investing Cash Flow 45,796.00 8,391.00 -55,641.00 118,682.00 105,147.00
   Capital Expenditure 0 0 0 0 0
   Net Purchase/Sale of PPE -16,780.00 -23,720.00 -24,663.00 115,891.00 185,681.00
   Net Purchase/Sale of Investments Net 59,708.00 29,766.00 -34,109.00 0 -89,137.00
   Net Purchase/Sale of Business 0 0 0 0 0
   Other Investing Activities 2,868.00 2,345.00 3,131.00 2,791.00 8,603.00
Financing Cash Flow -48,247.00 -85,211.00 79,086.00 -100,341.00 -346,504.00
   Net Issuance/Repayment of Debt -27,841.00 -64,638.00 110,943.00 -41,448.00 -82,742.00
   Net Issuance/Repurchase of Equity 0 0 -309.00 -38,876.00 -242,991.00
   Dividends Paid -20,406.00 -20,407.00 -19,967.00 -20,003.00 -20,633.00
   Other Financing Activities 0.00 -166.00 -11,581.00 -14.00 -138.00
Net Change in Cash 132,143.00 51,131.00 87,351.00 131,579.00 -23,648.00
   Cash at Beginning of Period 471,062.00 419,931.00 332,580.00 201,001.00 224,649.00
   Cash at End of Period 603,205.00 471,062.00 419,931.00 332,580.00 201,001.00
Free Cash Flow 117,814.00 104,231.00 39,243.00 74,195.00 187,261.00