Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 86.16 212.10 -10.48 -76.60
Price to Sales 6.77 4.48 3.21 7.08
Book Value Per Common Share -1.40 -0.95 -4.68 2.55
Price to Book -152.79 -129.09 -16.43 62.00
Price to Operating Cash Flow 23.97 28.16 119.93 136.93
Price to Free Cash Flow 24.94 38.37 -132.95 321.43
Enterprise Value to EBITDA 646485.25 1027085.09
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings -17763.00 153.84 267.84 249.48 341.16
Price to Sales 19.57 18.08 19.22 25.99 20.71
Book Value Per Common Share -5.08 -2.11 -3.01 -1.40 -3.55
Price to Book -34.96 -74.99 -54.37 -152.79 -47.06
Price to Operating Cash Flow 76.81 58.93 62.56 89.50 70.96
Price to Free Cash Flow 77.67 59.99 63.90 90.83 72.10
Enterprise Value to EBITDA 515641096.26 1707601.04 2036953.80 1219550.91 2807748.32

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY 329.31
Revenue YoY 12.74 12.54 9.29
EBITDA YoY 171.92
Net Profit YoY 317.42
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY 68.85 -29.07 75.51
Revenue YoY 3.12 3.44 2.87 3.55
EBITDA YoY -99.63 14.83 -54.41 195.48
Net Profit YoY 70.89 -29.69 79.34

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 19.91 16.94 18.34 23.15
Quick Ratio 0.81 1.30 0.93 1.74
Current Ratio 0.84 1.36 0.96 1.79
Debt to Equity -25.28 -34.11 -7.68 13.14
Long-Term Debt to Equity -6.05 -19.63 -3.16 7.82
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 28.47 19.94 19.21 19.83 17.44
Quick Ratio 1.52 0.74 0.75 0.81 0.70
Current Ratio 1.62 0.81 0.79 0.84 0.74
Debt to Equity -10.18 -17.96 -11.71 -25.28 -9.60
Long-Term Debt to Equity -6.31 -4.52 -2.82 -6.05 -2.37

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 7.23 1.84 -24.16 -5.69
ROE -175.57 -60.82 161.40 -80.44
Gross Margin 67.93 67.18 62.08 61.52
Operating Margin 8.81 2.69 -33.34 -3.76
EBITDA Margin 10.58 4.39 -31.69 -2.27
Net Profit Margin 7.86 2.12 -30.62 -9.23
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA -0.02 2.89 1.87 2.51 1.56
ROE 0.21 -49.04 -20.03 -60.96 -13.44
Gross Margin 68.34 68.70 67.95 68.81 68.06
Operating Margin -1.46 9.04 7.90 19.76 5.81
EBITDA Margin 0.04 10.55 9.50 21.44 7.51
Net Profit Margin -0.12 11.78 7.13 10.43 6.02

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Dividend Yield
Dividend Payout Ratio
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Dividend Yield
Dividend Payout Ratio

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 1,913,042.00 1,804,136.00 1,758,367.00 2,059,787.00
   Current Assets 1,280,400.00 1,070,205.00 1,147,737.00 1,389,813.00
      Cash and Short-Term Investments 1,106,376.00 962,894.00 1,063,463.00 1,319,557.00
            Cash and Cash Equivalents 660,939.00 609,622.00 244,686.00 451,355.00
            Short-Term Investments 445,437.00 353,272.00 818,777.00 868,202.00
      Net Receivables 116,939.00 63,660.00 42,086.00 30,367.00
      Inventory 0 0 0 0
      Other Current Assets 57,085.00 43,651.00 42,188.00 39,889.00
   Non-Current Assets 632,642.00 733,931.00 610,630.00 669,974.00
      Property, Plant, Equipment Net 528,016.00 557,490.00 309,346.00 151,532.00
      Goodwill 49,329.00 49,329.00 49,329.00 49,300.00
      Intangible Assets 22,141.00 28,010.00 33,964.00 40,247.00
      Long-Term Investments 6,135.00 64,806.00 194,964.00 387,341.00
      Non-Current Deferred Assets 0 0 0 0
      Other Non-Current Assets 27,021.00 34,296.00 23,027.00 41,554.00
Liabilities 1,991,828.00 1,858,621.00 2,021,609.00 1,914,072.00
   Current Liabilities 1,515,412.00 789,031.00 1,190,472.00 774,298.00
      Payables and Expenses 222,065.00 131,592.00 212,653.00 231,063.00
            Account Payables 47,077.00 38,305.00 96,071.00 114,584.00
            Current Accrued Liabilities 174,988.00 93,287.00 116,582.00 116,063.00
      Short-Term Debt 600,787.00 24,981.00 390,889.00 29,201.00
      Other Current Liabilities 692,560.00 632,458.00 586,930.00 514,034.00
   Non-Current Liabilities 476,416.00 1,069,590.00 831,137.00 1,139,774.00
      Long-Term Debt 369,159.00 971,340.00 739,548.00 1,004,738.00
      Other Non-Current Liabilities 107,257.00 98,250.00 91,589.00 135,036.00
Equity -78,786.00 -54,485.00 -263,242.00 145,715.00
   Shareholders Equity -78,786.00 -54,485.00 -263,242.00 145,715.00
      Capital Stock 107.00 110.00 108.00 111.00
      Share Premium 1,840,574.00 1,539,952.00 1,274,968.00 994,795.00
      Retained Earnings -901,542.00 -1,039,864.00 -1,073,001.00 -648,138.00
      Treasury Shares 1,025,167.00 558,875.00 431,862.00 199,997.00
      Accumulated Other Comprehensive Income 7,242.00 4,192.00 -33,455.00 -1,056.00
   Minority Interest 0 0 0 0
Debt 969,946.00 996,321.00 1,130,437.00 1,033,939.00
Net Debt 0 0 683,501.00 471,619.00
Common Shares Outstanding 56,107.93 57,172.60 56,305.46 57,254.19
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 1,760,650.00 1,561,665.00 1,387,666.00 1,269,657.00
Cost Of Revenue 564,635.00 512,528.00 526,227.00 488,579.00
Interest Income 41,954.00 45,185.00 19,422.00 10,474.00
Interest Expense 3,166.00 4,194.00 5,213.00 5,298.00
Non-Interest Expense 600,593.00 559,610.00 663,931.00 681,675.00
Gross Profit 1,196,015.00 1,049,137.00 861,439.00 781,078.00
Operating Expenses 1,095,874.00 1,040,903.00 1,146,792.00 1,106,612.00
   Selling, General and Administrative Expenses 600,593.00 559,610.00 663,931.00 681,675.00
   Research and Development Expenses 495,281.00 481,293.00 482,861.00 424,937.00
Operating Income 100,141.00 8,234.00 -285,353.00 -325,534.00
Net Non-Operating Income -36.00 -255.00 1,023.00 584.00
EBT 151,925.00 37,839.00 -467,843.00 -53,007.00
Income Tax 13,603.00 4,702.00 -42,980.00 64,202.00
Net Income Including Non-Controlling Interests 138,322.00 33,137.00 -424,863.00 -117,209.00
Net Income 138,322.00 33,137.00 -424,863.00 -117,209.00
EBIT 155,091.00 42,033.00 -462,630.00 -47,709.00
Deprecation and Amortization 31,115.00 26,446.00 22,857.00 18,881.00
EBITDA 186,206.00 68,479.00 -439,773.00 -28,828.00
EPS 0.00 0.00 -0.01 -0.00
Diluted EPS 0.00 0.00 -0.01 -0.00
Average Shares Outstanding Basic 55,579.37 56,829.96 57,993.36 57,004.15
Average Shares Outstanding Diluted 59,953.37 58,408.33 57,993.36 57,004.15
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 497,415.00 248,246.00 37,152.00 65,685.00
   Operating Net Income 138,322.00 33,137.00 -424,863.00 -117,209.00
   Deprecation and Amortization 31,115.00 26,446.00 22,857.00 18,881.00
   Deferred Income Tax -5,196.00 -8,784.00 -57,865.00 54,454.00
   Share Based Compensation 240,721.00 224,625.00 236,836.00 221,391.00
   Change in Working Capital 101,298.00 -35,809.00 48,384.00 41,350.00
   Other Operating Activities -8,845.00 8,631.00 211,803.00 -153,182.00
Investing Cash Flow -35,466.00 566,714.00 -54,658.00 376,869.00
   Capital Expenditure -1,523.00 -3,028.00 -2,110.00 -1,930.00
   Net Purchase/Sale of PPE -17,813.00 -63,021.00 -68,554.00 -35,770.00
   Net Purchase/Sale of Investments Net -16,680.00 632,874.00 16,586.00 457,298.00
   Net Purchase/Sale of Business 0 0 51,596.00 -42,729.00
   Other Investing Activities 0 -111.00 -52,176.00 0.00
Financing Cash Flow -406,726.00 -450,024.00 -189,163.00 -160,057.00
   Net Issuance/Repayment of Debt 0 -362,667.00 0 0
   Net Issuance/Repurchase of Equity -466,302.00 -127,017.00 -231,873.00 -200,000.00
   Dividends Paid 0 0 0 0
   Other Financing Activities 59,576.00 39,660.00 42,710.00 39,943.00
Net Change in Cash 55,223.00 364,936.00 -206,669.00 282,497.00
   Cash at Beginning of Period 609,622.00 244,686.00 451,355.00 168,858.00
   Cash at End of Period 660,939.00 609,622.00 244,686.00 451,355.00
Free Cash Flow 478,079.00 182,197.00 -33,512.00 27,985.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Assets 2,558,541.00 1,996,037.00 1,805,660.00 1,913,042.00 1,714,480.00
   Current Assets 1,750,649.00 1,278,325.00 1,177,162.00 1,280,400.00 1,069,553.00
      Cash and Short-Term Investments 1,584,629.00 1,114,995.00 1,069,909.00 1,106,376.00 961,186.00
            Cash and Cash Equivalents 889,616.00 693,042.00 653,276.00 660,939.00 439,434.00
            Short-Term Investments 695,013.00 421,953.00 416,633.00 445,437.00 521,752.00
      Net Receivables 54,688.00 55,354.00 47,328.00 116,939.00 50,224.00
      Inventory 0 0 0 0 0
      Other Current Assets 111,332.00 107,976.00 59,925.00 57,085.00 58,143.00
   Non-Current Assets 807,892.00 717,712.00 628,498.00 632,642.00 644,927.00
      Property, Plant, Equipment Net 516,240.00 515,175.00 520,963.00 528,016.00 536,608.00
      Goodwill 150,942.00 72,084.00 49,329.00 49,329.00 49,329.00
      Intangible Assets 23,301.00 21,935.00 20,680.00 22,141.00 23,601.00
      Long-Term Investments 4,897.00 5,259.00 6,183.00 6,135.00 6,168.00
      Non-Current Deferred Assets 72,356.00 70,325.00 0 0 0
      Other Non-Current Assets 40,156.00 32,934.00 0 0 0
Liabilities 2,837,306.00 2,113,700.00 1,974,277.00 1,991,828.00 1,913,787.00
   Current Liabilities 1,078,100.00 1,581,897.00 1,497,947.00 1,515,412.00 1,440,557.00
      Payables and Expenses 306,966.00 258,917.00 196,561.00 222,065.00 180,512.00
            Account Payables 32,575.00 25,237.00 38,032.00 47,077.00 30,891.00
            Current Accrued Liabilities 274,391.00 233,680.00 158,529.00 174,988.00 149,621.00
      Short-Term Debt 42,446.00 607,275.00 603,043.00 600,787.00 603,374.00
      Other Current Liabilities 728,688.00 715,705.00 698,343.00 692,560.00 656,671.00
   Non-Current Liabilities 1,759,206.00 531,803.00 476,330.00 476,416.00 473,230.00
      Long-Term Debt 1,528,555.00 392,761.00 359,389.00 369,159.00 368,369.00
      Other Non-Current Liabilities 230,651.00 139,042.00 116,941.00 107,257.00 104,861.00
Equity -278,765.00 -117,663.00 -168,617.00 -78,786.00 -199,307.00
   Shareholders Equity -278,765.00 -117,663.00 -168,617.00 -78,786.00 -199,307.00
      Capital Stock 105.00 106.00 107.00 107.00 105.00
      Share Premium 2,008,326.00 1,988,990.00 1,923,576.00 1,840,574.00 1,772,023.00
      Retained Earnings -810,662.00 -810,073.00 -867,776.00 -901,542.00 -949,566.00
      Treasury Shares 1,500,159.00 1,325,163.00 1,225,165.00 1,025,167.00 1,025,167.00
      Accumulated Other Comprehensive Income 23,625.00 28,477.00 641.00 7,242.00 3,298.00
   Minority Interest 0 0 0 0 0
Debt 1,571,001.00 1,000,036.00 962,432.00 969,946.00 971,743.00
Net Debt 234,878.00 0 0 0 132,653.00
Common Shares Outstanding 54,864.71 55,686.23 56,107.93 56,107.93 56,107.93
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Revenues 505,194.00 489,930.00 473,651.00 460,455.00 444,673.00
Cost Of Revenue 159,928.00 153,340.00 151,792.00 143,636.00 142,028.00
Non-Interest Expense 180,612.00 157,549.00 156,957.00 153,613.00 152,206.00
Gross Profit 345,266.00 336,590.00 321,859.00 316,819.00 302,645.00
Operating Expenses 352,637.00 292,284.00 284,454.00 280,799.00 276,799.00
   Selling, General and Administrative Expenses 180,612.00 157,549.00 156,957.00 153,613.00 152,206.00
   Research and Development Expenses 172,025.00 134,735.00 127,497.00 127,186.00 124,593.00
Operating Income -7,371.00 44,306.00 37,405.00 36,020.00 25,846.00
Net Non-Operating Income 4,136.00 123.00 64.00 -94.00 -191.00
EBT 11,691.00 6,052.00 43,301.00 52,281.00 29,853.00
Income Tax 12,280.00 -51,651.00 9,535.00 4,257.00 3,075.00
Net Income Including Non-Controlling Interests -589.00 57,703.00 33,766.00 48,024.00 26,778.00
Net Income -589.00 57,703.00 33,766.00 48,024.00 26,778.00
EBIT -7,371.00 44,306.00 37,405.00 90,970.00 25,846.00
Deprecation and Amortization 7,560.00 7,369.00 7,598.00 7,738.00 7,560.00
EBITDA 189.00 51,675.00 45,003.00 98,708.00 33,406.00
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 55,651.27 55,905.45 55,708.67 55,786.20 55,099.94
Average Shares Outstanding Diluted 55,651.27 59,650.01 60,384.51 60,648.79 58,166.80
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Operating Cash Flow 128,699.00 150,335.00 145,491.00 133,736.00 129,814.00
   Operating Net Income -589.00 57,703.00 33,766.00 48,024.00 26,778.00
   Deprecation and Amortization 7,560.00 7,369.00 7,598.00 7,738.00 7,560.00
   Deferred Income Tax -2,097.00 -64,817.00 1.00 -7.00 30.00
   Share Based Compensation 59,565.00 59,439.00 60,261.00 61,801.00 60,892.00
   Change in Working Capital 80,869.00 128,587.00 41,520.00 19,923.00 44,555.00
   Other Operating Activities -16,609.00 -37,946.00 2,345.00 -3,743.00 -10,001.00
Investing Cash Flow -269,208.00 -14,119.00 22,186.00 83,548.00 4,196.00
   Capital Expenditure -273.00 -405.00 -421.00 -401.00 -388.00
   Net Purchase/Sale of PPE -1,144.00 -2,265.00 -2,629.00 -1,562.00 -1,665.00
   Net Purchase/Sale of Investments Net -267,791.00 17,971.00 24,819.00 84,961.00 6,249.00
   Net Purchase/Sale of Business 0 -18,962.00 417.00 0 0
   Other Investing Activities 0.00 -10,458.00 0.00 0 0.00
Financing Cash Flow 333,795.00 -99,640.00 -177,346.00 6,692.00 28,641.00
   Net Issuance/Repayment of Debt 575,000.00 0 0 0 0
   Net Issuance/Repurchase of Equity -175,000.00 -100,000.00 -200,000.00 0 0
   Dividends Paid 0 0 0 0 0
   Other Financing Activities -66,205.00 0 0 6,692.00 28,641.00
Net Change in Cash 193,286.00 36,576.00 -9,669.00 223,976.00 162,651.00
   Cash at Beginning of Period 704,142.00 653,276.00 660,939.00 439,434.00 276,067.00
   Cash at End of Period 898,846.00 704,142.00 653,276.00 660,939.00 439,434.00
Free Cash Flow 127,282.00 147,665.00 142,441.00 131,773.00 127,761.00