Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings 10.17 7.13 -14.71 26.15 25.18
Price to Sales 0.39 0.34 0.27 0.47 0.45
Book Value Per Common Share 13.28 11.78 9.47 13.76 14.43
Price to Book 1.59 1.36 1.12 1.24 1.05
Price to Operating Cash Flow 4.37 6.72 1.00 2.26 16.41
Price to Free Cash Flow 4.62 7.12 1.02 2.34 39.71
Enterprise Value to EBITDA 60869.73 45290.69 147574.68
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Price to Earnings 18.39 22.18 16.01 -38.88 17.37 22.78 24.09 16.87
Price to Sales 1.83 1.94 1.69 1.62 1.59 1.75 1.46 1.70
Book Value Per Common Share 17.65 16.39 14.98 13.28 14.15 12.68 11.78 10.57 9.47 12.81 13.76 14.57 14.43
Price to Book 1.49 1.69 1.58 1.59 1.57 1.60 1.36 1.72 1.12 1.05 1.24 0.98 1.05
Price to Operating Cash Flow 11.73 7.30 3.56 7.60 7.07 -11.01 -15.51 7.30
Price to Free Cash Flow 11.96 7.37 3.59 7.76 7.37 -10.87 -14.36 7.45
Enterprise Value to EBITDA 57332.85 56559.80 64350.42 53193.10

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Earning YoY -7.59 8.33
Revenue YoY 9.27 13.82 8.99 4.58
EBITDA YoY -4.88 22.17
Net Profit YoY -11.81 6.82
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Earning YoY 14.40 -15.54 46.25 42.86 -34.12
Revenue YoY 0.21 1.34 1.89 5.33 16.26 10.10 9.41
EBITDA YoY 19.88 9.82 -13.28
Net Profit YoY 13.50 -15.32 39.23 37.84 -33.59

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Cash Per Common Share 11.83 16.02 15.42 9.54 7.91
Quick Ratio
Current Ratio
Debt to Equity 6.61 5.79 9.04 3.79 2.91
Long-Term Debt to Equity
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Cash Per Common Share 20.52 20.14 17.02 12.00 16.42 16.56 16.50 13.92 15.60 7.40 9.54 5.84 8.09
Quick Ratio
Current Ratio
Debt to Equity 5.24 6.16 5.43 6.61 5.62 4.81 5.79 6.93 9.04 3.41 3.79 2.78 2.91
Long-Term Debt to Equity

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA 2.07 2.88 -0.77 0.99 1.09
ROE 15.79 19.58 -7.73 4.75 4.25
Gross Margin 28.49 28.67 23.25 30.54 29.27
Operating Margin 5.99 6.82 -1.69 2.59 2.27
EBITDA Margin 6.39 7.34 -1.09 3.21 2.74
Net Profit Margin 3.88 4.80 -1.82 1.82 1.78
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
ROA 1.29 1.07 1.53 -0.61 1.59 0.95 1.00 1.54
ROE 8.05 7.67 9.81 -4.04 9.23 7.51 4.42 5.81
Gross Margin 36.55 34.72 34.87 35.61 45.21
Operating Margin 13.52 11.95 14.45 -4.30 13.35 10.88 8.38 13.83
EBITDA Margin 29.51 28.08 27.23 27.30 34.44
Net Profit Margin 9.93 8.77 10.49 -4.17 9.15 7.64 6.10 10.05

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Dividend Yield
Dividend Payout Ratio
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Dividend Yield 0.00 0.00 0.00
Dividend Payout Ratio 11.20 12.87 -27.94

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Assets 2,841,861.00 2,316,561.00 2,890,154.00 2,056,141.00 1,758,741.00
   Deposits 46,237.00 48,660.00 54,964.00 53,694.00 49,562.00
      Cash and Short-Term Investments 337,193.00 477,801.00 474,175.00 297,842.00 252,043.00
            Cash and Cash Equivalents 259,441.00 397,306.00 388,706.00 250,508.00 167,156.00
            Short-Term Investments 77,752.00 80,495.00 85,469.00 47,334.00 84,887.00
      Net Receivables 77,936.00 77,064.00 71,102.00 81,870.00 97,459.00
      Inventory 0 0 0 0 0
      Other Current Assets 0 0 0 0 0
      Property, Plant, Equipment Net 48,653.00 47,628.00 51,404.00 53,682.00 53,572.00
      Real Estate 8,322.00 5,525.00 5,711.00 5,891.00 15,176.00
      Goodwill 0 0 0 0 0
      Intangible Assets 0 0 0 0 0
      Long-Term Investments 0 0 0 0 0
      Non-Current Deferred Assets 42,163.00 43,175.00 57,258.00 16,331.00 6,284.00
      Other Non-Current Assets 0 0 0 0 0
Liabilities 2,468,611.00 1,975,264.00 2,602,258.00 1,626,439.00 1,309,479.00
      Payables and Expenses 25,931.00 20,989.00 18,541.00 22,315.00 23,809.00
            Account Payables 0 0 0 0 0
            Current Accrued Liabilities 25,931.00 20,989.00 18,541.00 22,315.00 23,809.00
      Short-Term Debt 0 0 0 0 0
      Other Current Liabilities 0 0 0 0 0
      Long-Term Debt 0 0 0 0 0
      Other Non-Current Liabilities 0 0 0 0 0
Equity 373,250.00 341,297.00 287,896.00 429,702.00 449,262.00
   Shareholders Equity 373,250.00 341,297.00 287,896.00 429,702.00 449,262.00
      Capital Stock 475.00 472.00 472.00 470.00 468.00
      Share Premium 121,781.00 115,086.00 112,509.00 108,202.00 103,445.00
      Retained Earnings 596,853.00 560,690.00 517,455.00 563,713.00 567,512.00
      Treasury Shares -282,693.00 -260,779.00 -238,758.00 -227,115.00 -225,506.00
      Accumulated Other Comprehensive Income -63,166.00 -74,172.00 -103,782.00 -15,568.00 3,343.00
   Minority Interest 0 0 0 0 0
Investments 2,718,107.00 2,305,609.00 2,205,901.00 2,181,469.00 1,824,672.00
Debt 101,243.00 102,006.00 102,769.00 103,676.00 0
Common Shares Outstanding 28,096.00 28,966.00 30,389.00 31,221.00 31,137.00
Preferred Shares Outstanding 10.00 10.00 10.00 10.00 10.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Revenues 1,520,536.00 1,391,582.00 1,222,658.00 1,121,851.00 1,072,770.00
   Net Premiums 1,373,073.00 1,251,936.00 1,128,626.00 1,035,463.00 923,563.00
Cost Of Revenue 1,087,366.00 992,636.00 938,399.00 779,205.00 758,810.00
Gross Profit 433,170.00 398,946.00 284,259.00 342,646.00 313,960.00
   Selling, General and Administrative Expenses 342,083.00 304,066.00 304,897.00 314,233.00 289,729.00
Interest Expense 6,476.00 6,531.00 6,609.00 638.00 100.00
EBT 84,611.00 88,349.00 -27,247.00 28,413.00 24,231.00
Income Tax 25,683.00 21,526.00 4,990.00 8,006.00 5,126.00
Net Income 58,928.00 66,823.00 -22,257.00 20,407.00 19,105.00
EBIT 91,087.00 94,880.00 -20,638.00 29,051.00 24,331.00
Deprecation and Amortization 6,117.00 7,313.00 7,296.00 6,913.00 5,107.00
EBITDA 97,204.00 102,193.00 -13,342.00 35,964.00 29,438.00
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 28,498.00 29,829.00 30,751.00 31,218.00 31,884.00
Average Shares Outstanding Diluted 29,274.00 30,147.00 30,751.00 31,307.00 31,972.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow 137,358.00 70,971.00 324,515.00 234,378.00 29,348.00
   Operating Net Income 58,928.00 66,823.00 -22,257.00 20,407.00 19,105.00
   Deprecation and Amortization 6,117.00 7,313.00 7,296.00 6,913.00 5,107.00
   Deferred Income Tax -2,570.00 4,409.00 -12,126.00 -4,267.00 2,789.00
   Share Based Compensation 8,117.00 2,916.00 4,727.00 5,815.00 8,695.00
   Change in Working Capital -22,650.00 34,004.00 34,760.00 -2,449.00 47,580.00
   Other Operating Activities 89,416.00 -44,494.00 312,115.00 207,959.00 -53,928.00
Investing Cash Flow -228,092.00 -15,251.00 -148,861.00 -229,404.00 22,042.00
   Capital Expenditure -7,368.00 -4,019.00 -4,899.00 -7,226.00 -17,216.00
   Net Purchase/Sale of PPE -7,260.00 -3,977.00 -4,802.00 -7,064.00 -17,034.00
   Net Purchase/Sale of Investments Net -220,832.00 -11,274.00 -144,059.00 -234,227.00 73,782.00
   Net Purchase/Sale of Business 0 0 0 0 0
   Other Investing Activities 7,368.00 4,019.00 4,899.00 19,113.00 -17,490.00
Financing Cash Flow -47,131.00 -47,120.00 -37,456.00 68,298.00 -56,263.00
   Net Issuance/Repayment of Debt -1,471.00 -1,471.00 -1,471.00 98,529.00 -1,470.00
   Net Issuance/Repurchase of Equity 21,914.00 22,021.00 11,643.00 1,609.00 28,921.00
   Dividends Paid 22,326.00 23,289.00 23,784.00 24,201.00 24,557.00
   Other Financing Activities -89,900.00 -90,959.00 -71,412.00 -56,041.00 -108,271.00
Net Change in Cash -137,865.00 8,600.00 138,198.00 73,272.00 -4,873.00
   Cash at Beginning of Period 399,941.00 391,341.00 253,143.00 179,871.00 184,744.00
   Cash at End of Period 262,076.00 399,941.00 391,341.00 253,143.00 179,871.00
Free Cash Flow 129,990.00 66,952.00 319,616.00 227,152.00 12,132.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Assets 3,089,645.00 3,275,818.00 2,714,716.00 2,841,861.00 2,650,518.00 2,120,144.00 2,316,561.00 2,551,020.00 2,890,154.00 1,748,955.00 2,056,141.00 1,717,453.00 1,758,741.00
   Deposits 0 0 81,922.00 46,237.00 0 74,370.00 48,660.00 92,235.00 54,964.00 85,120.00 53,694.00 73,738.00 49,562.00
      Cash and Short-Term Investments 571,500.00 563,406.00 478,167.00 337,193.00 465,615.00 477,982.00 477,801.00 423,061.00 474,175.00 230,524.00 297,842.00 182,120.00 252,043.00
            Cash and Cash Equivalents 405,114.00 367,108.00 398,184.00 259,441.00 333,678.00 396,323.00 397,306.00 330,155.00 388,706.00 165,398.00 250,508.00 90,829.00 167,156.00
            Short-Term Investments 166,386.00 196,298.00 79,983.00 77,752.00 131,937.00 81,659.00 80,495.00 92,906.00 85,469.00 65,126.00 47,334.00 91,291.00 84,887.00
      Net Receivables 398,362.00 474,600.00 71,873.00 77,936.00 230,004.00 73,974.00 77,064.00 64,844.00 71,102.00 63,932.00 81,870.00 77,229.00 97,459.00
      Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Current Assets 0 0 0 0 0 0 0 0 0 0 0 0 0
      Property, Plant, Equipment Net 49,931.00 47,679.00 48,258.00 48,653.00 49,358.00 49,416.00 47,628.00 50,193.00 51,404.00 54,170.00 53,682.00 53,178.00 53,572.00
      Real Estate 0 0 8,253.00 8,322.00 0 5,479.00 5,525.00 5,665.00 5,711.00 5,845.00 5,891.00 6,027.00 15,176.00
      Goodwill 0 0 0 0 0 0 0 0 0 0 0 0 0
      Intangible Assets 0 0 0 0 0 0 0 0 0 0 0 0 0
      Long-Term Investments 1,513,516.00 1,491,827.00 0 0 1,368,450.00 0 0 0 0 0 0 0 0
      Non-Current Deferred Assets 0 0 46,217.00 42,163.00 0 49,277.00 43,175.00 58,804.00 57,258.00 40,072.00 16,331.00 17,488.00 6,284.00
      Other Non-Current Assets 0 0 0 0 0 0 0 0 0 0 0 0 0
Liabilities 2,594,602.00 2,818,010.00 2,292,329.00 2,468,611.00 2,250,273.00 1,755,480.00 1,975,264.00 2,229,214.00 2,602,258.00 1,352,614.00 1,626,439.00 1,262,788.00 1,309,479.00
      Payables and Expenses 540,268.00 738,836.00 23,785.00 25,931.00 446,045.00 22,661.00 20,989.00 19,644.00 18,541.00 0 22,315.00 0 23,809.00
            Account Payables 501,809.00 709,453.00 0 0 420,282.00 0 0 0 0 0 0 0 0
            Current Accrued Liabilities 0 0 23,785.00 25,931.00 0 22,661.00 20,989.00 19,644.00 18,541.00 0 22,315.00 0 23,809.00
      Short-Term Debt 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Current Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0
      Long-Term Debt 100,671.00 100,862.00 0 0 101,434.00 0 0 0 0 0 0 0 0
      Other Non-Current Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0
Equity 495,043.00 457,808.00 422,387.00 373,250.00 400,245.00 364,664.00 341,297.00 321,806.00 287,896.00 396,341.00 429,702.00 454,665.00 449,262.00
   Shareholders Equity 495,043.00 457,808.00 422,387.00 373,250.00 400,245.00 364,664.00 341,297.00 321,806.00 287,896.00 396,341.00 429,702.00 454,665.00 449,262.00
      Capital Stock 481.00 476.00 476.00 475.00 472.00 472.00 472.00 472.00 472.00 471.00 470.00 469.00 468.00
      Share Premium 124,063.00 123,919.00 121,875.00 121,781.00 121,003.00 116,239.00 115,086.00 113,425.00 112,509.00 109,099.00 108,202.00 104,624.00 103,445.00
      Retained Earnings 699,448.00 664,315.00 633,801.00 596,853.00 599,340.00 589,585.00 560,690.00 536,658.00 517,455.00 576,243.00 563,713.00 588,890.00 567,512.00
      Treasury Shares 298,194.00 290,120.00 -282,693.00 -282,693.00 274,977.00 -264,918.00 -260,779.00 -238,758.00 -238,758.00 -230,994.00 -227,115.00 -225,751.00 -225,506.00
      Accumulated Other Comprehensive Income -30,755.00 -40,782.00 -51,072.00 -63,166.00 -45,593.00 -76,714.00 -74,172.00 -89,991.00 -103,782.00 -58,478.00 -15,568.00 -13,567.00 3,343.00
   Minority Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 0 0 2,832,577.00 2,718,107.00 0 2,393,347.00 2,305,609.00 2,244,587.00 2,205,901.00 2,165,451.00 2,181,469.00 2,021,726.00 1,824,672.00
Debt 100,671.00 100,862.00 101,053.00 101,243.00 101,434.00 101,815.00 102,006.00 102,578.00 102,769.00 103,384.00 103,676.00 0 0
Common Shares Outstanding 28,048.00 27,927.00 28,190.00 28,096.00 28,286.00 28,758.00 28,966.00 30,440.00 30,389.00 30,946.00 31,221.00 31,216.00 31,137.00
Preferred Shares Outstanding 0 0 10.00 10.00 0 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Revenues 400,981.00 400,141.00 394,867.00 387,554.00 367,959.00 316,508.00 287,482.00 262,757.00
   Net Premiums 0 0 355,721.00 0 334,025.00 282,224.00 269,064.00 243,305.00
Cost Of Revenue 0 0 250,555.00 0 240,187.00 206,154.00 185,106.00 143,963.00
Interest Expense 1,426.00 1,431.00 1,612.00 1,442.00 1,622.00 1,636.00 1,608.00 0.00
Non-Interest Expense 0 29,964.00 0 28,438.00 0 0 0 0
Gross Profit 0 0 144,312.00 0 127,772.00 110,354.00 102,376.00 118,794.00
   Selling, General and Administrative Expenses 0 29,964.00 87,244.00 28,438.00 78,666.00 75,927.00 78,297.00 82,443.00
   Other Operating Expenses 30,728.00 0 0 0 0 0 0 0
EBT 52,777.00 46,386.00 55,456.00 -18,123.00 47,484.00 32,791.00 22,471.00 36,351.00
Income Tax 12,947.00 11,293.00 14,017.00 -1,960.00 13,827.00 8,618.00 4,934.00 9,943.00
Net Income Including Non-Controlling Interests 39,830.00 35,093.00 0 -16,163.00 0 0 0 0
Net Income 39,827.00 35,091.00 41,439.00 -16,166.00 33,657.00 24,173.00 17,537.00 26,408.00
EBIT 54,203.00 47,817.00 57,068.00 -16,681.00 49,106.00 34,427.00 24,079.00 36,351.00
Deprecation and Amortization 0 0 59,456.00 0 54,205.00 51,755.00 54,399.00 54,143.00
EBITDA 0 0 116,524.00 0 103,311.00 86,182.00 78,478.00 90,494.00
EPS 0.00 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 0.00
Average Shares Outstanding Basic 27,851.00 27,972.00 28,091.00 28,355.00 28,869.00 30,382.00 31,147.00 31,208.00
Average Shares Outstanding Diluted 28,808.00 29,072.00 28,779.00 28,355.00 29,404.00 30,626.00 31,227.00 31,277.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Operating Cash Flow 62,421.00 106,223.00 186,769.00 82,624.00 82,916.00 -50,257.00 -27,081.00 61,265.00
   Operating Net Income 0 0 0 0 0 0 0 0
   Deprecation and Amortization 0 0 59,456.00 0 54,205.00 51,755.00 54,399.00 54,143.00
   Deferred Income Tax 0 0 0 0 0 0 0 0
   Share Based Compensation 0 0 0 0 0 0 0 0
   Change in Working Capital 0 0 0 0 0 0 0 0
   Other Operating Activities 62,421.00 106,223.00 127,313.00 82,624.00 28,711.00 -102,012.00 -81,480.00 7,122.00
Investing Cash Flow -8,689.00 -58,964.00 -41,548.00 -22,890.00 -74,381.00 -2,629.00 -48,442.00 -131,398.00
   Capital Expenditure 0 0 -1,227.00 0 -3,298.00 -690.00 -2,185.00 -1,211.00
   Net Purchase/Sale of PPE -1,146.00 -974.00 -1,218.00 -1,657.00 -3,248.00 -681.00 -2,184.00 -1,195.00
   Net Purchase/Sale of Investments Net -7,543.00 -69,453.00 -40,330.00 -21,233.00 -71,133.00 -1,948.00 -46,258.00 -126,195.00
   Net Purchase/Sale of Business 0 0 0 0 0 0 0 0
   Other Investing Activities 0.00 0 1,227.00 0 3,298.00 690.00 2,185.00 -2,797.00
Financing Cash Flow -15,251.00 -12,335.00 -6,478.00 -9,320.00 -9,518.00 -5,665.00 -9,587.00 -6,194.00
   Net Issuance/Repayment of Debt -368.00 -368.00 -367.00 -368.00 -368.00 -368.00 -367.00 -368.00
   Net Issuance/Repurchase of Equity -8,074.00 -7,427.00 0 -4,435.00 4,508.00 0 3,879.00 245.00
   Dividends Paid -4,460.00 -4,517.00 4,844.00 -4,516.00 4,642.00 4,983.00 5,032.00 5,086.00
   Other Financing Activities -2,349.00 -23.00 -10,955.00 -1.00 -18,300.00 -10,280.00 -18,131.00 -11,157.00
Net Change in Cash 38,481.00 34,924.00 138,743.00 50,414.00 -983.00 -58,551.00 -85,110.00 -76,327.00
   Cash at Beginning of Period 435,743.00 400,819.00 262,076.00 351,899.00 399,941.00 391,341.00 253,143.00 179,871.00
   Cash at End of Period 474,224.00 435,743.00 400,819.00 402,313.00 398,958.00 332,790.00 168,033.00 103,544.00
Free Cash Flow 61,264.00 105,246.00 185,542.00 80,962.00 79,618.00 -50,947.00 -29,266.00 60,054.00