Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 13.62 91.26 13.10 13.75
Price to Sales 3.27 3.98 3.66 4.07
Book Value Per Common Share 49.76 46.72 42.70 49.92
Price to Book 1.36 1.29 1.82 1.67
Price to Operating Cash Flow 10.16 9.65 10.76 10.05
Price to Free Cash Flow 10.87 10.44 11.68 10.46
Enterprise Value to EBITDA
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2022-06-30
Price to Earnings 39.89 41.54 45.64 49.15 44.11 49.72
Price to Sales 10.79 10.81 10.98 12.67 10.87 57.19
Book Value Per Common Share 54.93 53.04 51.60 49.76 50.35 43.50
Price to Book 1.21 1.18 1.22 1.36 1.15 1.66
Price to Operating Cash Flow 27.03 47.17 40.37 41.52 38.76
Price to Free Cash Flow 27.83 48.89 42.99 44.55 43.38
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY 654.55 -88.85 -2.63
Revenue YoY 36.96 -29.03 1.53
EBITDA YoY
Net Profit YoY 648.71 -88.84 -4.36
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2022-06-30
Earning YoY 9.93 9.42 0.00 5.34 -9.66
Revenue YoY 5.81 1.16 7.26 0.78 318.72
EBITDA YoY
Net Profit YoY 10.26 9.11 0.11 5.47 -10.69

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 10.37 10.67 11.42 9.73
Long-Term Debt to Equity
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2022-06-30
Cash Per Common Share 5.67
Quick Ratio
Current Ratio
Debt to Equity 9.74 9.99 10.06 10.37 10.10 11.56
Long-Term Debt to Equity

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 0.87 0.12 1.11 1.13
ROE 9.93 1.41 13.73 12.16
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin 24.00 4.39 27.92 29.64
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2022-06-30
ROA 0.28 0.26 0.24 0.24 0.23 0.27
ROE 3.00 2.82 2.65 2.76 2.58 3.34
Gross Margin 90.51
Operating Margin 328.43
EBITDA Margin 344.02
Net Profit Margin 27.07 25.98 24.09 25.81 24.66 115.63

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 49.47 364.70 39.59 36.57
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2022-06-30
Dividend Yield 0.00 0.00 0.00 0.00 0.00
Dividend Payout Ratio 37.31 41.25 44.89 46.51 46.58

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 8,109,080.00 7,819,749.00 7,670,686.00 7,819,982.00
      Cash and Short-Term Investments 0 0 0 0
            Cash and Cash Equivalents 134,398.00 79,542.00 77,837.00 63,107.00
            Short-Term Investments 1,231,532.00 1,416,650.00 1,594,967.00 2,044,513.00
      Net Receivables 12,422.00 15,304.00 16,038.00 13,884.00
      Inventory 0 0 0 0
      Other Current Assets 0 0 0 0
      Property, Plant, Equipment Net 76,627.00 79,687.00 82,140.00 85,416.00
      Goodwill 92,602.00 92,602.00 92,602.00 92,447.00
      Intangible Assets 2,203.00 2,327.00 2,708.00 3,643.00
      Long-Term Investments 1,544,762.00 1,729,838.00 1,908,088.00 2,329,424.00
      Non-Current Deferred Assets 0 0 0 0
      Other Non-Current Assets 0 0 0 0
Liabilities 7,395,636.00 7,149,815.00 7,053,296.00 7,091,041.00
      Payables and Expenses 0 0 0 0
            Account Payables 0 0 0 0
            Current Accrued Liabilities 0 0 0 0
      Short-Term Debt 247,000.00 477,100.00 241,300.00 14,000.00
      Other Current Liabilities 0 0 0 0
      Long-Term Debt 543,247.00 125,000.00 50,000.00 110,000.00
      Other Non-Current Liabilities 0 0 0 0
Equity 713,444.00 669,934.00 617,390.00 728,941.00
   Shareholders Equity 713,444.00 668,522.00 615,978.00 727,529.00
      Capital Stock 1,447.00 1,444.00 1,456.00 1,470.00
      Share Premium 300,073.00 297,183.00 302,763.00 312,538.00
      Retained Earnings 537,157.00 501,510.00 526,727.00 475,262.00
      Treasury Shares 6,741.00 6,610.00 6,279.00 5,791.00
      Accumulated Other Comprehensive Income -118,492.00 -125,005.00 -208,689.00 -55,950.00
   Minority Interest 0 1,412.00 1,412.00 1,412.00
Debt 790,247.00 602,100.00 291,300.00 124,000.00
Net Debt 655,849.00 522,558.00 213,463.00 60,893.00
Common Shares Outstanding 14,336.52 14,309.73 14,426.99 14,574.09
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 295,176.00 215,517.00 303,693.00 299,109.00
Interest Income 347,574.00 297,358.00 251,324.00 241,318.00
Interest Expense 136,472.00 87,844.00 21,043.00 17,526.00
Non-Interest Expense 195,257.00 198,720.00 190,318.00 182,509.00
   Selling, General and Administrative Expenses 137,582.00 134,265.00 131,736.00 127,287.00
EBT 92,976.00 12,124.00 109,713.00 114,573.00
Income Tax 22,003.00 2,495.00 24,557.00 25,182.00
Net Income Including Non-Controlling Interests 70,973.00 9,629.00 85,156.00 89,391.00
Net Income Non-Controlling Interests -123.00 -124.00 -126.00 -127.00
Net Income 70,850.00 9,463.00 84,780.00 88,649.00
Deprecation and Amortization 10,475.00 11,733.00 11,557.00 11,567.00
EPS 0.00 0.00 0.01 0.01
Diluted EPS 0.00 0.00 0.01 0.01
Average Shares Outstanding Basic 14,218.11 14,254.66 14,328.28 14,568.76
Average Shares Outstanding Diluted 14,268.44 14,301.22 14,404.29 14,648.17
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 94,966.00 89,003.00 103,340.00 121,177.00
   Operating Net Income 70,850.00 9,505.00 85,030.00 89,264.00
   Deprecation and Amortization 10,475.00 11,733.00 11,557.00 11,567.00
   Deferred Income Tax -3,082.00 -434.00 910.00 1,798.00
   Share Based Compensation 4,631.00 4,100.00 4,343.00 5,145.00
   Change in Working Capital -1,336.00 812.00 -1,749.00 8,602.00
   Other Operating Activities 13,428.00 63,287.00 3,249.00 4,801.00
Investing Cash Flow -250,441.00 -146,301.00 -8,444.00 -583,294.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE -5,915.00 -6,616.00 -7,945.00 -4,646.00
   Net Purchase/Sale of Investments Net 182,471.00 210,835.00 197,560.00 -759,388.00
   Net Purchase/Sale of Business 0 0 0 0
   Other Investing Activities 0 0 0 180,740.00
Financing Cash Flow 210,331.00 59,003.00 -80,166.00 136,762.00
   Net Issuance/Repayment of Debt 188,147.00 310,800.00 167,300.00 -159,079.00
   Net Issuance/Repurchase of Equity 170.00 -8,726.00 -15,430.00 -23,771.00
   Dividends Paid -35,049.00 -34,512.00 -33,565.00 -32,415.00
   Other Financing Activities 57,063.00 -208,559.00 -198,471.00 352,027.00
Net Change in Cash 54,856.00 1,705.00 14,730.00 -325,355.00
   Cash at Beginning of Period 79,542.00 77,837.00 63,107.00 388,462.00
   Cash at End of Period 134,398.00 79,542.00 77,837.00 63,107.00
Free Cash Flow 88,757.00 82,241.00 95,172.00 116,436.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2022-06-30
Assets 8,468,731.00 8,373,818.00 8,199,653.00 8,109,080.00 8,006,427.00 7,842,461.00
   Deposits 0 0 0 0 0 9,572,077.00
      Cash and Short-Term Investments 0 0 0 0 0 81,210.00
            Cash and Cash Equivalents 193,492.00 212,551.00 193,065.00 134,398.00 132,320.00 80,392.00
            Short-Term Investments 855,613.00 839,930.00 839,989.00 1,231,532.00 1,309,279.00 818.00
      Net Receivables 10,881.00 10,945.00 11,724.00 12,422.00 13,031.00 5,118,710.00
      Inventory 0 0 0 0 0 0
      Other Current Assets 0 0 0 0 0 0
      Property, Plant, Equipment Net 73,842.00 74,408.00 75,819.00 76,627.00 77,603.00 83,661.00
      Goodwill 92,602.00 92,602.00 92,602.00 92,602.00 92,602.00 92,447.00
      Intangible Assets 2,325.00 2,237.00 2,176.00 2,203.00 2,238.00 3,124.00
      Long-Term Investments 1,604,357.00 1,588,647.00 1,572,602.00 1,544,762.00 1,622,526.00 0
      Non-Current Deferred Assets 0 0 0 0 0 0
      Other Non-Current Assets 0 0 0 0 0 0
Liabilities 7,679,926.00 7,612,025.00 7,458,276.00 7,395,636.00 7,285,079.00 7,218,143.00
      Payables and Expenses 0 0 0 0 0 0
            Account Payables 0 0 0 0 0 0
            Current Accrued Liabilities 0 0 0 0 0 0
      Short-Term Debt 0 0 0 247,000.00 0 0
      Other Current Liabilities 0 0 0 0 0 0
      Long-Term Debt 444,866.00 672,696.00 493,247.00 543,247.00 539,327.00 0
      Other Non-Current Liabilities 0 0 0 0 0 0
Equity 788,805.00 761,793.00 741,377.00 713,444.00 721,348.00 624,318.00
   Shareholders Equity 788,805.00 761,793.00 741,377.00 713,444.00 719,855.00 622,843.00
      Capital Stock 1,447.00 1,447.00 1,447.00 1,447.00 1,443.00 1,454.00
      Share Premium 301,184.00 300,001.00 299,013.00 300,073.00 299,741.00 303,335.00
      Retained Earnings 575,112.00 560,385.00 547,887.00 537,157.00 526,423.00 502,770.00
      Treasury Shares 5,165.00 4,925.00 4,760.00 6,741.00 6,552.00 -5,847.00
      Accumulated Other Comprehensive Income -83,773.00 -95,115.00 -102,210.00 -118,492.00 -101,200.00 -178,869.00
   Minority Interest 0 0 0 0 1,493.00 1,475.00
Investments 0 0 0 0 0 313,133.00
Debt 444,866.00 672,696.00 493,247.00 790,247.00 539,327.00 0
Net Debt 251,374.00 460,145.00 300,182.00 655,849.00 407,007.00 0
Common Shares Outstanding 14,359.57 14,363.02 14,368.61 14,336.52 14,297.60 0
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2022-06-30
Revenues 87,442.00 82,642.00 81,694.00 76,162.00 75,571.00 18,048.00
Cost Of Revenue 0 0 0 0 0 1,712.00
Interest Income 98,056.00 93,646.00 89,462.00 90,022.00 89,129.00 60,953.00
Interest Expense 34,178.00 33,516.00 32,800.00 33,741.00 35,936.00 5,382.00
Net Interest 0 0 0 0 0 58,262.00
Non-Interest Income 0 0 0 0 0 18,944.00
Non-Interest Expense 0 0 0 48,928.00 48,784.00 -98,240.00
Provisions for Credit Losses 0 0 0 0 0 -1,712.00
Gross Profit 0 0 0 0 0 16,336.00
   Selling, General and Administrative Expenses 33,654.00 33,530.00 32,077.00 35,716.00 34,322.00 27,527.00
EBT 31,105.00 28,239.00 25,800.00 25,733.00 24,527.00 53,893.00
Income Tax 7,432.00 6,768.00 6,121.00 6,045.00 5,858.00 12,520.00
Net Income Including Non-Controlling Interests 23,673.00 21,471.00 19,679.00 19,688.00 18,669.00 20,933.00
Net Income Non-Controlling Interests 0 0 0 -30.00 -31.00 -64.00
Net Income 23,673.00 21,471.00 19,679.00 19,658.00 18,638.00 20,869.00
EBIT 0 0 0 0 0 59,275.00
Deprecation and Amortization 2,085.00 2,142.00 2,279.00 2,399.00 2,310.00 2,814.00
EBITDA 0 0 0 0 0 62,089.00
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 14,248.53 14,246.40 14,246.14 14,230.30 14,215.61 14,317.42
Average Shares Outstanding Diluted 14,345.22 14,320.12 14,319.44 14,312.50 14,283.25 14,387.60
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2022-06-30
Operating Cash Flow 34,901.00 18,947.00 22,225.00 23,249.00 21,194.00 0
   Operating Net Income 23,673.00 21,471.00 19,679.00 19,658.00 18,638.00 20,869.00
   Deprecation and Amortization 2,085.00 2,142.00 2,279.00 2,399.00 2,310.00 2,814.00
   Deferred Income Tax 0 0 0 0 0 0
   Share Based Compensation 1,050.00 972.00 943.00 1,938.00 978.00 0
   Change in Working Capital 670.00 -814.00 -580.00 268.00 884.00 0
   Other Operating Activities 7,423.00 -4,824.00 -96.00 -1,014.00 -1,616.00 0
Investing Cash Flow -108,348.00 -136,465.00 -25,435.00 -125,393.00 -40,303.00 0
   Capital Expenditure 0 0 0 0 0 0.00
   Net Purchase/Sale of PPE -984.00 -638.00 -1,353.00 -1,585.00 -2,227.00 0
   Net Purchase/Sale of Investments Net 228.00 -5,973.00 -5,943.00 43,539.00 53,840.00 0
   Net Purchase/Sale of Business 0 0 0 0 0 0
   Other Investing Activities -107,592.00 -129,854.00 -18,139.00 -167,347.00 -91,916.00 0
Financing Cash Flow 54,388.00 137,004.00 61,877.00 104,222.00 80,514.00 0
   Net Issuance/Repayment of Debt -227,830.00 179,449.00 -297,000.00 250,920.00 -234,300.00 0
   Net Issuance/Repurchase of Equity 31.00 30.00 28.00 48.00 41.00 0
   Dividends Paid -8,833.00 -8,857.00 -8,833.00 -9,142.00 -8,681.00 0
   Other Financing Activities 291,020.00 -33,618.00 367,682.00 -137,604.00 323,454.00 0
Net Change in Cash -19,059.00 19,486.00 58,667.00 2,078.00 61,405.00 0
   Cash at Beginning of Period 212,551.00 193,065.00 134,398.00 132,320.00 70,915.00 0
   Cash at End of Period 193,492.00 212,551.00 193,065.00 134,398.00 132,320.00 80,392.00
Free Cash Flow 33,901.00 18,278.00 20,872.00 21,664.00 18,938.00 0