Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings -96.93 12.49 3.40 2.23
Price to Sales 0.32 0.47 0.37 0.53
Book Value Per Common Share 6.10 6.33 6.03 5.37
Price to Book 4.77 6.71 5.06 8.11
Price to Operating Cash Flow 2.99 3.33 2.18 3.19
Price to Free Cash Flow 140.14 8.01 2.76 3.97
Enterprise Value to EBITDA 342354.45 396281.71 180169.02 133842.16
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings 347.30 27.36 103.87 20.34 184.55
Price to Sales 1.72 1.50 1.56 1.47 1.62
Book Value Per Common Share 6.10 6.12 6.17 6.10 6.08
Price to Book 5.69 4.92 5.05 4.77 6.07
Price to Operating Cash Flow 12.73 5.66 29.54 12.11 23.94
Price to Free Cash Flow -38.93 25.26 -19.68 -63.73 -50.55
Enterprise Value to EBITDA 1607503.67 1448408.06 1515973.17 894888.99 1528835.51

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY -62.22 -53.85
Revenue YoY 0.22 7.28 2.01
EBITDA YoY -20.74 -36.82 -47.84
Net Profit YoY -61.75 -53.79
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY -90.91 266.67 -79.02 615.00
Revenue YoY 0.19 0.36 1.46 -13.48
EBITDA YoY 3.96 1.10 -36.75 34.60
Net Profit YoY -90.43 221.67 -76.15 787.20

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 19.60 19.45 17.97 13.08
Quick Ratio 1.62 1.84 2.40 1.45
Current Ratio 2.88 3.16 3.99 2.68
Debt to Equity 0.43 0.44 0.27 0.40
Long-Term Debt to Equity 0.20 0.21 0.11 0.13
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 14.06 17.19 19.13 19.60 19.65
Quick Ratio 1.40 1.56 1.75 1.62 1.66
Current Ratio 2.46 2.68 3.00 2.88 2.92
Debt to Equity 0.44 0.44 0.43 0.43 0.47
Long-Term Debt to Equity 0.20 0.21 0.21 0.20 0.22

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA -0.23 2.80 10.11 22.37
ROE -0.33 4.02 12.84 31.26
Gross Margin 16.37 20.21 23.93 38.50
Operating Margin 5.24 8.21 16.53 35.99
EBITDA Margin 9.45 11.95 20.29 39.67
Net Profit Margin -0.30 3.84 10.77 23.77
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA 0.09 0.90 0.28 1.21 0.13
ROE 0.13 1.30 0.41 1.74 0.19
Gross Margin 15.38 15.46 13.50 11.62 12.91
Operating Margin 5.74 5.35 5.58 11.58 6.47
EBITDA Margin 10.72 10.34 10.26 16.46 10.58
Net Profit Margin 0.52 5.46 1.70 7.25 0.71

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 -1133.84 84.21 29.99 14.88
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Dividend Yield 0.00 0.00
Dividend Payout Ratio 163.85 62.91

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 23,128,547.00 24,179,104.00 17,491,548.00 17,097,907.00
   Current Assets 11,070,805.00 12,023,804.00 8,842,274.00 8,604,623.00
      Cash and Short-Term Investments 3,848,568.00 3,818,530.00 3,528,351.00 2,567,006.00
            Cash and Cash Equivalents 1,688,517.00 1,842,884.00 1,653,325.00 1,276,547.00
            Short-Term Investments 2,160,051.00 1,975,646.00 1,875,026.00 1,290,459.00
      Net Receivables 2,387,825.00 3,167,702.00 1,797,255.00 2,089,256.00
      Inventory 4,750,511.00 4,948,376.00 3,470,215.00 3,908,305.00
      Other Current Assets 83,901.00 89,196.00 46,453.00 40,056.00
   Non-Current Assets 12,057,742.00 12,155,300.00 8,649,274.00 8,493,284.00
      Property, Plant, Equipment Net 8,857,938.00 8,086,229.00 6,469,427.00 6,600,822.00
      Goodwill 662,307.00 662,307.00 662,307.00 662,307.00
      Intangible Assets 232,889.00 190,760.00 121,073.00 87,215.00
      Long-Term Investments 491,495.00 728,195.00 922,287.00 818,752.00
      Non-Current Deferred Assets 1,194,398.00 1,713,385.00 200,237.00 160,745.00
      Other Non-Current Assets 618,715.00 774,424.00 273,943.00 163,443.00
Liabilities 6,996,978.00 7,367,245.00 3,723,155.00 4,862,869.00
   Current Liabilities 3,839,159.00 3,800,602.00 2,216,830.00 3,213,764.00
      Payables and Expenses 2,316,813.00 2,734,472.00 1,643,145.00 2,321,942.00
            Account Payables 1,925,526.00 2,232,654.00 1,187,600.00 1,126,049.00
            Current Accrued Liabilities 0 0 0 0
      Short-Term Debt 716,530.00 992,627.00 548,179.00 866,944.00
      Other Current Liabilities 805,816.00 73,503.00 25,506.00 24,878.00
   Non-Current Liabilities 3,157,819.00 3,566,643.00 1,506,325.00 1,649,105.00
      Long-Term Debt 1,723,713.00 1,394,874.00 722,835.00 871,715.00
      Other Non-Current Liabilities 1,434,106.00 2,171,769.00 783,490.00 777,390.00
Equity 16,131,569.00 16,811,859.00 13,768,393.00 12,235,038.00
   Shareholders Equity 11,968,186.00 12,418,595.00 11,845,959.00 10,535,019.00
      Capital Stock 2,004,743.00 2,004,743.00 2,004,743.00 2,004,743.00
      Share Premium -2,324,866.00 -2,324,866.00 -2,324,866.00 -2,324,866.00
      Retained Earnings 13,248,403.00 13,910,629.00 13,803,878.00 12,566,393.00
      Treasury Shares 150,000.00 150,000.00 150,000.00 150,000.00
      Accumulated Other Comprehensive Income -786,798.00 -998,616.00 -1,464,501.00 -1,537,956.00
   Minority Interest 4,163,383.00 4,393,264.00 1,922,434.00 1,700,019.00
Debt 2,440,243.00 2,387,501.00 1,271,014.00 1,738,659.00
Common Shares Outstanding 1,963,076.78 1,963,076.78 1,963,076.78 1,963,076.78
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 17,649,060.00 17,610,092.00 16,414,466.00 16,090,744.00
Cost Of Revenue 14,760,224.00 14,050,738.00 12,487,282.00 9,895,070.00
Interest Income 297,820.00 255,009.00 75,145.00 62,912.00
Interest Expense 196,175.00 125,376.00 46,737.00 26,997.00
Non-Interest Expense 1,416,509.00 1,121,491.00 924,620.00 729,018.00
Gross Profit 2,888,836.00 3,559,355.00 3,927,184.00 6,195,674.00
Operating Expenses 1,653,559.00 1,378,674.00 1,129,734.00 912,777.00
   Selling, General and Administrative Expenses 1,416,509.00 1,121,491.00 924,620.00 729,018.00
   Other Operating Expenses 2,800.00 15,692.00 -13,912.00 -37,347.00
Operating Income 1,235,277.00 2,180,681.00 2,797,450.00 5,282,897.00
EBT 728,005.00 1,320,782.00 2,666,500.00 5,764,330.00
Income Tax 554,224.00 334,408.00 573,728.00 1,397,139.00
Net Income Including Non-Controlling Interests 173,781.00 986,374.00 2,092,772.00 4,367,191.00
Net Income Non-Controlling Interests -227,453.00 -310,331.00 -325,256.00 -542,123.00
Net Income -53,672.00 676,043.00 1,767,516.00 3,825,068.00
EBIT 924,180.00 1,446,158.00 2,713,237.00 5,791,327.00
Deprecation and Amortization 743,277.00 657,692.00 616,492.00 591,790.00
EBITDA 1,667,457.00 2,103,850.00 3,329,729.00 6,383,117.00
EPS -0.00 0.00 0.01 0.02
Diluted EPS -0.00 0.00 0.01 0.02
Average Shares Outstanding Basic 196,307.68 196,307.68 196,307.68 196,307.68
Average Shares Outstanding Diluted 196,307.68 196,307.68 196,307.68 196,307.68
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 1,906,157.00 2,501,124.00 2,752,943.00 2,677,315.00
   Operating Net Income 173,781.00 986,374.00 2,092,772.00 4,367,191.00
   Deprecation and Amortization 743,277.00 657,692.00 616,492.00 591,790.00
   Deferred Income Tax 497,697.00 -160,940.00 -1,195,561.00 578,285.00
   Share Based Compensation 0 0 0 0
   Change in Working Capital -15,880.00 321,081.00 1,152,498.00 -2,617,789.00
   Other Operating Activities 507,282.00 696,917.00 86,742.00 -242,162.00
Investing Cash Flow -1,375,321.00 -1,470,273.00 -1,324,611.00 -1,045,350.00
   Capital Expenditure -1,865,419.00 -1,460,677.00 -580,553.00 -523,610.00
   Net Purchase/Sale of PPE 2,388.00 2,477.00 1,912.00 1,752.00
   Net Purchase/Sale of Investments Net 462,128.00 -717,534.00 -770,638.00 -579,010.00
   Net Purchase/Sale of Business 0 662,386.00 -4,216.00 -757.00
   Other Investing Activities 25,582.00 43,075.00 28,884.00 56,275.00
Financing Cash Flow -488,385.00 -766,357.00 -1,016,177.00 -854,376.00
   Net Issuance/Repayment of Debt 174,504.00 -197,065.00 -486,146.00 -285,084.00
   Net Issuance/Repurchase of Equity 0 0 0 0
   Dividends Paid -608,554.00 -569,292.00 -530,031.00 -569,292.00
   Other Financing Activities -54,335.00 0.00 0.00 0.00
Net Change in Cash 42,451.00 264,494.00 412,155.00 777,589.00
   Cash at Beginning of Period 1,846,013.00 1,653,355.00 1,276,605.00 537,882.00
   Cash at End of Period 1,691,263.00 1,846,013.00 1,653,355.00 1,276,605.00
Free Cash Flow 40,738.00 1,040,447.00 2,172,390.00 2,153,705.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Assets 23,471,357.00 23,919,225.00 23,715,575.00 23,128,547.00 23,938,458.00
   Current Assets 9,807,046.00 10,340,610.00 11,055,952.00 11,070,805.00 11,744,857.00
      Cash and Short-Term Investments 2,760,438.00 3,374,867.00 3,755,393.00 3,848,568.00 3,857,481.00
            Cash and Cash Equivalents 1,322,885.00 1,857,696.00 1,831,183.00 1,688,517.00 1,614,253.00
            Short-Term Investments 1,437,553.00 1,517,171.00 1,924,210.00 2,160,051.00 2,243,228.00
      Net Receivables 2,838,780.00 2,636,497.00 2,693,915.00 2,387,825.00 2,835,980.00
      Inventory 4,132,409.00 4,228,171.00 4,591,291.00 4,750,511.00 5,019,078.00
      Other Current Assets 75,419.00 101,075.00 15,353.00 83,901.00 32,318.00
   Non-Current Assets 13,664,311.00 13,578,615.00 12,659,623.00 12,057,742.00 12,193,601.00
      Property, Plant, Equipment Net 10,104,332.00 9,486,199.00 8,803,071.00 8,857,938.00 8,141,878.00
      Goodwill 0 0 0 662,307.00 0
      Intangible Assets 0 0 0 232,889.00 0
      Long-Term Investments 582,438.00 553,753.00 509,816.00 491,495.00 544,189.00
      Non-Current Deferred Assets 1,047,333.00 1,429,056.00 1,298,306.00 1,194,398.00 1,432,487.00
      Other Non-Current Assets 0 0 0 618,715.00 0
Liabilities 7,171,112.00 7,336,884.00 7,178,979.00 6,996,978.00 7,612,219.00
   Current Liabilities 3,990,011.00 3,856,964.00 3,682,926.00 3,839,159.00 4,022,436.00
      Payables and Expenses 2,158,679.00 2,054,523.00 1,868,634.00 2,316,813.00 2,116,235.00
            Account Payables 2,128,234.00 2,022,233.00 1,835,824.00 1,925,526.00 1,992,047.00
            Current Accrued Liabilities 0 0 0 0 0
      Short-Term Debt 602,505.00 596,435.00 688,132.00 716,530.00 640,170.00
      Other Current Liabilities 1,228,827.00 1,206,006.00 1,126,160.00 805,816.00 1,266,031.00
   Non-Current Liabilities 3,181,101.00 3,479,920.00 3,496,053.00 3,157,819.00 3,589,783.00
      Long-Term Debt 1,655,927.00 1,976,944.00 2,000,261.00 1,723,713.00 1,764,218.00
      Other Non-Current Liabilities 1,525,174.00 1,502,976.00 1,495,792.00 1,434,106.00 1,825,565.00
Equity 16,300,245.00 16,582,341.00 16,536,596.00 16,131,569.00 16,326,239.00
   Shareholders Equity 11,975,677.00 12,004,234.00 12,107,998.00 11,968,186.00 11,940,839.00
      Capital Stock 2,004,743.00 2,004,743.00 2,004,743.00 2,004,743.00 2,004,743.00
      Share Premium -2,324,866.00 -2,324,866.00 -2,324,866.00 -2,324,866.00 -2,324,866.00
      Retained Earnings 13,198,081.00 13,177,473.00 13,315,381.00 13,248,403.00 13,144,227.00
      Treasury Shares 150,000.00 150,000.00 150,000.00 150,000.00 150,000.00
      Accumulated Other Comprehensive Income -728,986.00 -679,821.00 -713,964.00 -786,798.00 -709,970.00
   Minority Interest 4,324,568.00 4,578,107.00 4,428,598.00 4,163,383.00 4,385,400.00
Debt 2,258,432.00 2,573,379.00 2,688,393.00 2,440,243.00 2,404,388.00
Net Debt 723,069.00 499,673.00 638,396.00 0 572,702.00
Common Shares Outstanding 1,963,076.78 1,963,076.78 1,963,076.78 1,963,076.78 1,963,076.78
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Revenues 3,954,562.00 3,946,939.00 3,932,808.00 3,876,255.00 4,480,356.00
Cost Of Revenue 3,346,173.00 3,336,863.00 3,401,858.00 3,426,013.00 3,901,911.00
Interest Income 55,860.00 57,458.00 68,491.00 70,567.00 71,323.00
Interest Expense 53,336.00 56,318.00 54,342.00 52,118.00 54,149.00
Non-Interest Expense 396,271.00 402,900.00 338,536.00 311,344.00 412,028.00
Gross Profit 608,389.00 610,076.00 530,950.00 450,242.00 578,445.00
Operating Expenses 392,989.00 410,849.00 399,124.00 435,840.00 402,947.00
   Selling, General and Administrative Expenses 396,271.00 402,900.00 338,536.00 311,344.00 412,028.00
   Other Operating Expenses -3,282.00 7,949.00 2,924.00 62,854.00 -9,081.00
Operating Income 215,400.00 199,227.00 131,826.00 14,402.00 175,498.00
EBT 173,724.00 154,879.00 165,058.00 396,941.00 235,507.00
Income Tax 443,593.00 -104,436.00 22,727.00 64,170.00 142,802.00
Net Income Including Non-Controlling Interests -269,869.00 259,315.00 142,331.00 332,771.00 92,705.00
Net Income Non-Controlling Interests 290,477.00 -43,869.00 -75,353.00 -51,918.00 -61,049.00
Net Income 20,608.00 215,446.00 66,978.00 280,853.00 31,656.00
EBIT 227,060.00 211,197.00 219,400.00 449,059.00 289,656.00
Deprecation and Amortization 197,061.00 196,758.00 184,099.00 188,854.00 184,280.00
EBITDA 424,121.00 407,955.00 403,499.00 637,913.00 473,936.00
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 196,307.68 196,307.68 196,307.68 196,307.68 196,307.68
Average Shares Outstanding Diluted 196,307.68 196,307.68 196,307.68 196,307.68 196,307.68
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Operating Cash Flow 535,418.00 1,043,635.00 207,037.00 471,540.00 302,654.00
   Operating Net Income -269,869.00 259,315.00 142,331.00 332,771.00 92,705.00
   Deprecation and Amortization 197,061.00 196,758.00 184,099.00 188,854.00 184,280.00
   Deferred Income Tax 394,220.00 -201,574.00 -50,381.00 23,462.00 203,565.00
   Share Based Compensation 0 0 0 0 0
   Change in Working Capital 174,113.00 781,350.00 -54,586.00 236,126.00 -155,188.00
   Other Operating Activities 39,893.00 7,786.00 -14,426.00 -309,673.00 -22,708.00
Investing Cash Flow -729,085.00 -494,553.00 -273,370.00 -243,127.00 -606,337.00
   Capital Expenditure -710,530.00 -809,691.00 -517,799.00 -561,106.00 -445,988.00
   Net Purchase/Sale of PPE 3,251.00 352.00 512.00 675.00 470.00
   Net Purchase/Sale of Investments Net -23,742.00 319,098.00 242,828.00 296,424.00 -163,578.00
   Net Purchase/Sale of Business 0 0 0 0 0
   Other Investing Activities 0 0 0 20,880.00 2,759.00
Financing Cash Flow -330,306.00 -523,488.00 167,484.00 -63,247.00 183,144.00
   Net Issuance/Repayment of Debt -330,306.00 -168,176.00 167,484.00 118,320.00 186,347.00
   Net Issuance/Repurchase of Equity 0 0 0 0 0
   Dividends Paid 0 -353,000.00 0 -176,677.00 0
   Other Financing Activities 0.00 -2,312.00 0.00 -4,890.00 -3,203.00
Net Change in Cash -523,973.00 25,594.00 101,151.00 165,166.00 -120,539.00
   Cash at Beginning of Period 1,857,696.00 1,831,183.00 1,691,263.00 1,614,253.00 1,719,465.00
   Cash at End of Period 1,322,885.00 1,857,696.00 1,831,183.00 1,691,263.00 1,614,253.00
Free Cash Flow -175,112.00 233,944.00 -310,762.00 -89,566.00 -143,334.00