Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings
Price to Sales 46.88 75.47 458.49 1847.06 12966.67
Book Value Per Common Share -0.26 -0.10 -0.05 0.33 0.34
Price to Book -2.31 -7.52 -45.00 9.53 11.61
Price to Operating Cash Flow -2.23 -3.25 -9.20 -8.10 -11.49
Price to Free Cash Flow -2.18 -3.07 -8.35 -7.74 -10.27
Enterprise Value to EBITDA
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 2020-12-31
Price to Earnings -12.67 -8.59
Price to Sales 119.09 190.00 237.54 111.30 360.48 795.83 1433.33
Book Value Per Common Share -0.32 -0.31 -0.28 -0.26 -0.23 -0.19 -0.10 -0.04 -0.05 0.21 0.33 0.34
Price to Book -2.15 -2.48 -2.07 -2.31 -2.58 -3.98 -7.52 -51.62 -45.00 14.56 9.53 11.61
Price to Operating Cash Flow -9.39 -12.46 -13.35 -9.80 -7.45 -13.78 54.14
Price to Free Cash Flow -12.30 -13.35 -9.55 -7.38 -13.48 56.47
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Earning YoY
Revenue YoY 59.10 153.04 240.30 570.25
EBITDA YoY
Net Profit YoY
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 2020-12-31
Earning YoY
Revenue YoY 54.24 65.06 -58.06 14.50 31.17
EBITDA YoY
Net Profit YoY

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Cash Per Common Share 0.03 0.25 0.19 0.38 0.40
Quick Ratio 0.43 0.66 0.63 3.16 3.12
Current Ratio 0.52 0.69 0.70 3.37 3.26
Debt to Equity -1.36 -4.21 -6.85 0.55 0.60
Long-Term Debt to Equity -1.06 -0.55 -1.29 0.18 0.22
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 2020-12-31
Cash Per Common Share 0.00 0.02 0.03 0.03 0.06 0.14 0.25 0.16 0.19 0.44 0.38 0.40
Quick Ratio 0.04 0.26 0.34 0.43 0.19 0.38 0.66 0.59 0.63 1.36 3.16 3.12
Current Ratio 0.12 0.35 0.40 0.52 0.22 0.43 0.69 0.69 0.70 1.48 3.37 3.26
Debt to Equity -1.18 -1.26 -1.29 -1.36 -1.56 -2.17 -4.21 -7.05 -6.85 1.93 0.55 0.60
Long-Term Debt to Equity -0.86 -0.98 -1.01 -1.06 -0.22 -0.27 -0.55 -1.27 -1.29 0.31 0.18 0.22

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA -286.91 127.64 -167.25 98.18 -78.01
ROE 103.29 -409.51 978.54 152.29 -125.20
Gross Margin -5855.48
Operating Margin -4601.70 -29803.94 -150893.29
EBITDA Margin -4419.41 -28753.94 -145561.78
Net Profit Margin -2186.27 4601.70 -9986.71 29976.99 -151859.55
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 2020-12-31
ROA -83.40 -72.19 -63.66 -45.91 -43.05 -48.66 24.36
ROE 14.96 18.99 18.69 25.71 50.35 294.50 71.39
Gross Margin
Operating Margin -1442.24 -1217.88 -4938.94 -5922.85 -6721.75
EBITDA Margin -1363.91 -1145.96 -4751.18 -5699.52 -6525.35
Net Profit Margin -857.41 -1545.18 -2201.33 -1226.82 -4877.95 -5860.53 6757.67

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 2020-12-31
Dividend Yield
Dividend Payout Ratio

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Assets 9,399.52 27,950.50 18,295.05 27,490.34 26,150.55
   Current Assets 4,056.81 21,854.10 12,172.15 21,978.83 20,331.69
      Cash and Short-Term Investments 3,264.43 20,729.98 10,867.05 20,581.31 19,444.74
            Cash and Cash Equivalents 3,264.43 20,729.98 10,867.05 20,581.31 19,444.74
            Short-Term Investments 0 0 0 0 0
      Net Receivables 110.57 242.62 72.61 12.51 7.12
      Inventory 0 0 0 0 0
      Other Current Assets 681.80 881.50 1,232.49 1,385.01 879.84
   Non-Current Assets 5,342.72 6,096.40 6,122.91 5,511.50 5,818.86
      Property, Plant, Equipment Net 5,028.97 6,072.52 6,012.40 5,294.63 5,497.22
      Goodwill 0 0 0 0 0
      Intangible Assets 313.75 23.89 110.50 216.88 321.64
      Long-Term Investments 0 0 0 0 0
      Non-Current Deferred Assets 0 0 0 0 0
      Other Non-Current Assets 0.00 0.00 0.00 0.00 0.00
Liabilities 35,507.26 36,662.72 21,422.02 9,768.23 9,856.83
   Current Liabilities 7,790.75 31,837.08 17,386.09 6,515.85 6,236.55
      Payables and Expenses 6,243.08 7,140.05 5,915.26 5,383.47 5,031.29
            Account Payables 2,766.18 3,211.29 3,043.01 1,542.46 1,539.55
            Current Accrued Liabilities 3,476.90 3,928.76 2,872.25 3,841.01 3,491.74
      Short-Term Debt 1,128.71 1,454.90 1,357.88 846.81 1,080.87
      Other Current Liabilities 418.95 23,242.13 10,112.95 285.57 124.39
   Non-Current Liabilities 27,716.51 4,825.64 4,035.93 3,252.38 3,620.28
      Long-Term Debt 4,691.87 4,402.94 3,615.46 2,953.02 3,360.68
      Other Non-Current Liabilities 23,024.64 422.71 420.47 299.36 259.60
Equity -26,107.74 -8,712.22 -3,126.96 17,722.10 16,293.72
   Shareholders Equity -24,907.62 -7,802.26 -3,126.96 17,722.10 16,293.72
      Capital Stock 96.10 81.90 57.87 53.77 48.61
      Share Premium 204,154.99 194,448.41 164,397.47 154,730.94 126,526.24
      Retained Earnings -229,544.34 -202,576.51 -167,257.43 -136,988.64 -110,173.97
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income 385.63 243.94 227.10 148.33 -59.98
   Minority Interest -1,200.12 -909.97 0 0 0
Debt 5,820.59 5,857.84 4,973.34 3,799.83 4,441.55
Net Debt 2,556.16 0 0 0 0
Common Shares Outstanding 96,097.49 81,898.32 57,873.38 53,772.26 48,607.02
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Revenues 1,233.51 775.30 306.39 90.03 13.43
Cost Of Revenue 0 0 0 0 800.00
Gross Profit 0 0 0 0 -786.57
Operating Expenses 28,258.48 36,763.00 32,086.46 28,423.11 20,461.25
   Selling, General and Administrative Expenses 13,852.00 17,211.47 17,513.93 12,881.23 6,727.39
   Research and Development Expenses 14,406.49 19,551.52 14,572.53 15,541.89 14,533.86
   Other Operating Expenses 0.00 0.00 0.00 0.00 -800.00
Operating Income -27,024.97 -35,987.69 -31,780.07 -28,333.08 -21,247.81
Net Non-Operating Income 0 310.62 0 1,343.30 848.52
Interest Expense 0.00 0.00 0.00 155.80 129.80
EBT 0 -35,677.07 0 -26,989.78 -20,399.29
Income Tax 0.00 0.00 0.00 0.00 0.00
Net Income Including Non-Controlling Interests -27,257.99 36,035.07 0 -26,989.78 0
Net Income Non-Controlling Interests 290.15 -358.00 0 53,979.56 0
Net Income -26,967.84 35,677.07 -30,598.47 26,989.78 -20,399.29
EBIT 0 -35,677.07 0 -26,833.98 -20,269.49
Deprecation and Amortization 1,338.93 1,413.28 1,189.95 945.37 716.18
EBITDA 0 -34,263.80 0 -25,888.61 -19,553.31
EPS 0 0 0 0 0
Diluted EPS -0.00 0 0 0 0
Average Shares Outstanding Basic 0 0 0 0 0
Average Shares Outstanding Diluted 86,531.17 0 0 0 0
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow -25,893.62 -18,063.00 -15,277.74 -20,853.92 -16,464.24
   Operating Net Income -27,257.99 35,677.07 -30,598.47 26,989.78 -20,399.29
   Deprecation and Amortization 1,338.93 1,413.28 1,189.95 945.37 716.18
   Deferred Income Tax 0 0 0 0 0
   Share Based Compensation 1,268.54 2,289.55 0 2,450.35 0
   Change in Working Capital -1,249.08 13,784.57 9,823.20 24.23 1,755.91
   Other Operating Activities 5.97 -71,227.46 4,307.58 -51,263.65 1,462.96
Investing Cash Flow -573.85 -1,083.75 -1,570.18 -973.56 -1,647.75
   Capital Expenditure -573.85 -1,083.75 -1,570.18 -973.56 -1,941.06
   Net Purchase/Sale of PPE -573.85 -1,083.75 -1,570.18 -973.56 -1,647.75
   Net Purchase/Sale of Investments Net 0 0 0 0 0
   Net Purchase/Sale of Business 0 0 0 0 0
   Other Investing Activities 573.85 1,083.75 1,570.18 973.56 1,941.06
Financing Cash Flow 8,657.25 28,982.69 6,938.03 22,857.55 20,620.84
   Net Issuance/Repayment of Debt 233.23 827.08 1,523.10 571.84 350.27
   Net Issuance/Repurchase of Equity 8,592.18 28,419.81 6,736.44 23,219.64 21,196.53
   Dividends Paid 0 0 0 0 0
   Other Financing Activities -168.15 -264.20 -1,321.51 -933.94 -925.96
Net Change in Cash -17,465.55 9,862.93 -9,714.26 1,136.58 0
   Cash at Beginning of Period 20,729.98 10,867.05 20,581.31 0 0
   Cash at End of Period 3,264.43 20,729.98 10,867.05 0 0
Free Cash Flow -26,467.48 -19,146.75 -16,847.92 -21,827.48 -18,405.30
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 2020-12-31
Assets 6,448.89 8,704.79 8,520.06 9,399.52 12,680.25 19,434.90 27,950.50 18,043.53 18,295.05 31,683.44 27,490.34 26,150.55
   Current Assets 1,332.08 3,263.31 3,294.00 4,056.81 6,800.94 13,470.05 21,854.10 11,957.70 12,172.15 25,956.73 21,978.83 20,331.69
      Cash and Short-Term Investments 199.41 2,256.00 2,600.34 3,264.43 5,414.15 11,772.16 20,729.98 10,010.88 10,867.05 23,732.38 20,581.31 19,444.74
            Cash and Cash Equivalents 199.41 2,256.00 2,600.34 3,264.43 5,414.15 11,772.16 20,729.98 10,010.88 10,867.05 23,732.38 20,581.31 19,444.74
            Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0
      Net Receivables 309.08 189.60 187.83 110.57 312.61 133.50 242.62 118.59 72.61 72.37 12.51 7.12
      Inventory 0 0 0 0 0 0 0 0 0 0 0 0
      Other Current Assets 823.59 817.71 505.83 681.80 1,074.18 1,564.39 881.50 1,828.23 1,232.49 2,151.98 1,385.01 879.84
   Non-Current Assets 5,116.81 5,441.48 5,226.06 5,342.72 5,879.31 5,964.85 6,096.40 6,085.84 6,122.91 5,726.71 5,511.50 5,818.86
      Property, Plant, Equipment Net 4,815.77 5,135.11 4,908.93 5,028.97 5,544.01 5,749.71 6,072.52 5,995.00 6,012.40 5,551.32 5,294.63 5,497.22
      Goodwill 0 0 0 0 0 0 0 0 0 0 0 0
      Intangible Assets 301.03 306.38 317.13 313.75 335.31 215.13 23.89 90.83 110.50 175.39 216.88 321.64
      Long-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0
      Non-Current Deferred Assets 0 0 0 0 0 0 0 0 0 0 0 0
      Other Non-Current Assets 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Liabilities 42,398.45 41,803.11 37,546.73 35,507.26 35,320.54 36,054.95 36,662.72 21,024.68 21,422.02 20,872.75 9,768.23 9,856.83
   Current Liabilities 11,422.03 9,240.88 8,273.10 7,790.75 30,279.48 31,492.37 31,837.08 17,237.91 17,386.09 17,512.82 6,515.85 6,236.55
      Payables and Expenses 7,699.57 6,864.31 6,710.77 6,243.08 6,055.78 6,832.99 7,140.05 5,708.64 5,915.26 5,744.12 5,383.47 5,031.29
            Account Payables 3,114.43 2,351.26 3,011.90 2,766.18 2,485.08 3,527.67 3,211.29 2,989.46 3,043.01 2,205.24 1,542.46 1,539.55
            Current Accrued Liabilities 4,585.14 4,389.31 3,698.87 3,476.90 3,480.21 3,305.32 3,928.76 2,719.18 2,872.25 3,538.88 3,841.01 3,491.74
      Short-Term Debt 2,751.40 1,489.72 1,136.34 1,128.71 1,234.07 1,398.87 1,454.90 1,406.75 1,357.88 1,629.02 846.81 1,080.87
      Other Current Liabilities 971.06 886.84 425.99 418.95 22,989.62 23,260.52 23,242.13 10,122.52 10,112.95 10,139.68 285.57 124.39
   Non-Current Liabilities 30,976.42 32,562.23 29,273.63 27,716.51 5,041.07 4,562.58 4,825.64 3,786.77 4,035.93 3,359.93 3,252.38 3,620.28
      Long-Term Debt 8,507.16 9,454.92 6,232.57 4,691.87 4,652.17 4,148.61 4,402.94 3,360.82 3,615.46 3,112.96 2,953.02 3,360.68
      Other Non-Current Liabilities 22,469.26 23,107.31 23,041.06 23,024.64 388.90 413.97 422.71 425.95 420.47 246.97 299.36 259.60
Equity -35,949.56 -33,098.32 -29,026.67 -26,107.74 -22,640.29 -16,620.05 -8,712.22 -2,981.14 -3,126.96 10,810.69 17,722.10 16,293.72
   Shareholders Equity -34,635.15 -31,815.35 -27,773.69 -24,907.62 -21,504.03 -15,605.47 -7,802.26 -2,335.81 -3,126.96 11,116.96 17,722.10 16,293.72
      Capital Stock 109.62 103.98 100.75 96.10 92.39 82.11 81.90 63.11 57.87 53.79 53.77 48.61
      Share Premium 212,307.71 209,777.15 206,961.96 204,154.99 202,014.28 194,997.35 194,448.41 173,467.43 164,397.47 155,655.42 154,730.94 126,526.24
      Retained Earnings -246,630.54 -241,252.18 -234,968.10 -229,544.34 -223,750.97 -210,943.89 -202,576.51 -176,036.98 -167,257.43 -144,622.67 -136,988.64 -110,173.97
      Treasury Shares 0 0 0 0 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income -421.95 -444.29 131.70 385.63 140.27 258.97 243.94 170.62 227.10 30.42 148.33 -59.98
   Minority Interest -1,314.41 -1,282.98 -1,252.98 -1,200.12 -1,136.26 -1,014.58 -909.97 -645.33 0 0 0 0
Debt 11,258.56 10,944.65 7,368.91 5,820.59 5,886.24 5,547.48 5,857.84 4,767.56 4,973.34 4,741.98 3,799.83 4,441.55
Net Debt 11,059.15 7,619.49 4,768.57 2,556.16 0 0 0 0 0 0 0 0
Common Shares Outstanding 109,620.40 103,982.02 100,746.47 96,097.49 92,392.57 82,108.97 81,898.32 63,111.77 57,873.38 53,790.26 53,772.26 48,607.02
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-03-31 2022-03-31
Revenues 627.28 406.69 246.38 587.45 474.52 0 171.53 149.81 114.21
Interest Income 0 0.16 0 0 0.53 0 0 0 0
Interest Expense 0.00 448.66 0.00 -89.46 89.46 0 0.00 0.00 41.03
Non-Interest Expense 0 3,938.22 0 0 2,817.01 0 0 0 0
Operating Expenses 5,728.27 6,628.50 5,768.10 13,444.59 6,257.85 0 8,556.04 9,194.84 7,791.19
   Selling, General and Administrative Expenses 3,442.36 3,938.22 3,160.66 7,108.47 2,817.01 0 3,926.51 4,289.16 4,201.14
   Research and Development Expenses 2,285.91 2,720.21 2,607.44 6,303.18 3,473.78 0 4,629.53 4,905.68 3,590.05
   Other Operating Expenses 0.00 -75.99 0.00 85.38 -85.38 0 0.00 0.00 0.00
Operating Income -5,100.99 -6,221.82 -5,521.72 -12,857.14 -5,783.33 0 -8,384.50 -9,045.03 -7,676.98
Net Non-Operating Income 0 0 0 0 0 0 -87.50 172.12 -41.03
EBT 0 -6,314.07 0 0 -5,868.58 0 -8,472.00 -8,872.91 -7,718.01
Income Tax 0.00 0 0.00 0.00 0 0 0.00 0.00 0.00
Net Income Including Non-Controlling Interests -5,409.79 -6,314.07 -5,476.63 -13,126.64 -5,868.58 0 -8,262.77 -8,872.91 -7,718.01
Net Income Non-Controlling Interests 31.43 29.99 52.87 347.72 47.05 0 -104.62 93.36 15,436.01
Net Income -5,378.36 -6,284.08 -5,423.76 -12,778.92 -5,821.53 0 -8,367.39 -8,779.55 7,718.01
EBIT 0 -5,865.41 0 0 -5,779.12 0 -8,472.00 -8,872.91 -7,676.98
Deprecation and Amortization 617.29 318.54 308.27 675.58 341.28 0 322.07 334.57 224.31
EBITDA 0 -5,546.87 0 0 -5,437.85 0 -8,149.93 -8,538.33 -7,452.66
EPS 0 -0.00 0 0.00 -0.00 -0.00 0 0 0
Diluted EPS -0.00 -0.00 -0.00 0.00 -0.00 -0.00 0 0 0
Average Shares Outstanding Basic 0 102,654.10 0 56,851.78 87,886.01 82,669.34 0 0 0
Average Shares Outstanding Diluted 108,213.07 102,654.10 96,536.05 175,569.34 87,886.01 82,669.34 0 0 0
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31
Operating Cash Flow -7,928.78 -6,262.69 -4,298.02 -5,387.46 -8,342.38 -8,744.74 2,989.85
   Operating Net Income 0.00 -6,314.07 -5,476.63 -5,868.58 8,472.00 8,872.91 7,718.01
   Deprecation and Amortization 617.29 318.54 308.27 341.28 322.07 334.57 224.31
   Deferred Income Tax 0.00 0 0 0 0 0 0
   Share Based Compensation 1,060.54 812.04 451.37 323.54 411.22 693.66 0
   Change in Working Capital 816.10 -1,048.27 439.01 -180.02 -623.22 -909.09 1,188.07
   Other Operating Activities -10,422.72 -30.94 -20.04 -3.68 -16,924.47 -17,736.80 -6,140.54
Investing Cash Flow -1.81 -76.78 -1.81 -136.74 -78.81 -200.59 -124.65
   Capital Expenditure 0.00 0 -1.81 0 -78.81 -200.59 -124.65
   Net Purchase/Sale of PPE -1.81 -76.78 -1.81 -136.74 -78.81 -200.59 -124.65
   Net Purchase/Sale of Investments Net 0.00 0 0 0 0 0 0
   Net Purchase/Sale of Business 0.00 0 0 0 0 0 0
   Net Loan & Lease Activity 0 0 0 0 0
   Other Investing Activities 0.00 0.00 1.81 0.00 78.81 200.59 124.65
Financing Cash Flow 5,267.03 5,670.02 3,667.08 5,603.34 -209.40 8,146.76 366.17
   Net Issuance/Repayment of Debt -4,794.45 5,630.10 1,306.84 -312.79 -222.07 -234.78 620.55
   Net Issuance/Repurchase of Equity 10,166.27 62.56 2,384.65 5,960.20 15.73 8,459.43 9.47
   Dividends Paid 0.00 0 0 0 0 0 0
   Other Financing Activities -104.79 -22.63 -24.41 -44.07 -3.06 -77.88 -263.84
Net Change in Cash -2,395.57 -669.45 -664.09 79.14 -8,957.82 -856.17 3,151.07
   Cash at Beginning of Period 2,594.98 2,600.34 3,264.43 5,998.93 20,729.98 10,867.05 0
   Cash at End of Period 199.41 2,256.00 2,600.34 5,414.15 11,772.16 10,010.88 0
Free Cash Flow 0.00 -6,339.47 -4,299.83 -5,524.20 -8,421.19 -8,945.34 2,865.20