Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings -2.17 -0.48 -39.60
Price to Sales 0.82 0.50 17.61 47.17 38.44
Book Value Per Common Share 2.41 3.13 0.52 0.57 0.58
Price to Book 0.70 0.59 11.40 34.11 34.95
Price to Operating Cash Flow -2.27 -2.36 -129.98 -204.33 -208.99
Price to Free Cash Flow
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 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Price to Earnings -1.93 -0.94 -2.72 -4.35 -21.50 -175.00 -355.00 -195.00
Price to Sales 3.49 2.65 1.82 2.41 4.60 68.54 130.20 112.33 185.64 259.39
Book Value Per Common Share 0.51 0.85 2.66 2.41 2.80 2.95 3.13 0.50 0.52 0.52 0.52 0.55 0.57 0.57 0.58
Price to Book 0.56 0.51 0.26 0.70 0.42 1.02 0.59 10.48 11.40 20.37 18.60 30.83 34.11 51.92 34.95
Price to Operating Cash Flow -6.89 -2.77 -3.24 -3.01 -62.84 3500.00 -285.52 7500.00 -3054.55 -697.18
Price to Free Cash Flow -6.89 -2.77 -3.01
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 -21.43 -5.78 -12.83 -11.14
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 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Earning YoY
Revenue YoY 3.39 -5.23 -49.20 -18.58 -2.96 -0.55 -3.74 -10.22
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 0.07 0.09 0.02 0.01 0.04
Quick Ratio 0.26 0.17 0.25 0.23 0.24
Current Ratio 0.27 0.19 0.38 0.33 0.48
Debt to Equity 0.41 0.63 0.36 0.42 0.85
Long-Term Debt to Equity 0.00 0.02 0.02 0.07 0.05
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 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Cash Per Common Share 0.08 0.08 0.56 0.06 0.06 0.03 0.07 0.02 0.02 0.03 0.00 0.00 0.01 0.01 0.04
Quick Ratio 1.10 0.63 0.80 0.26 0.31 0.16 0.17 0.23 0.25 0.25 0.12 0.25 0.23 0.25 0.24
Current Ratio 1.13 0.68 0.84 0.27 0.33 0.19 0.19 0.35 0.38 0.39 0.27 0.35 0.33 0.50 0.48
Debt to Equity 0.20 0.22 0.28 0.41 0.45 0.71 0.63 0.42 0.36 0.37 0.48 0.51 0.42 0.85 0.85
Long-Term Debt to Equity 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.02 0.02 0.02 0.05 0.05 0.07 0.08 0.05

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA -17.91 -63.41 -19.98 -41.81 -69.65
ROE -25.31 -103.31 -27.26 -59.55 -129.10
Gross Margin 24.95 33.35
Operating Margin -34.52 -104.63 -45.75 -82.34 -141.99
EBITDA Margin -80.70 -137.50
Net Profit Margin -38.01 -104.63 -45.75 -82.34 -141.99
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 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-03-31 2020-12-31
ROA -18.29 -28.68 -6.66 -6.52 -2.82 -4.31 -4.30 -6.21 -6.70 -7.05
ROE -21.89 -34.97 -8.51 -9.48 -4.82 -6.13 -5.88 -9.17 -10.09 -13.04
Gross Margin 35.69 26.43 19.00 17.45 25.69 30.88
Operating Margin -19.67 -54.44 -46.37 -51.79 -22.00 -40.09 -40.48 -53.47 -60.77 -65.14
EBITDA Margin -19.67 -54.44 -51.79 -58.98
Net Profit Margin -185.97 -279.23 -66.13 -55.94 -22.00 -40.09 -40.48 -56.77 -60.77 -65.14

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 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-03-31 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 6,345.81 6,278.22 9,247.14 9,122.93 10,627.27
   Current Assets 503.38 435.78 880.67 756.47 2,184.65
      Cash and Short-Term Investments 106.65 91.44 249.46 71.08 376.43
            Cash and Cash Equivalents 106.65 91.44 249.46 71.08 376.43
            Short-Term Investments 0 0 0 0 0
      Net Receivables 372.72 304.81 336.03 464.85 722.16
      Inventory 0 0 -523.44 156.60 998.44
      Other Current Assets 24.01 39.53 818.62 63.94 87.63
   Non-Current Assets 5,842.43 5,842.43 8,366.47 8,366.47 8,442.62
      Property, Plant, Equipment Net 0 0 0 0 76.16
      Goodwill 5,842.43 5,842.43 8,366.47 8,366.47 8,366.47
      Intangible Assets 0 0 0 0 240.00
      Long-Term Investments 0 0 0 0 0
      Non-Current Deferred Assets 318.61 324.16 0 0 0
      Other Non-Current Assets -318.61 -324.16 0.00 0.00 -240.00
Liabilities 1,856.21 2,424.77 2,470.62 2,717.86 4,893.26
   Current Liabilities 1,836.55 2,334.41 2,322.87 2,284.30 4,599.29
      Payables and Expenses 1,237.64 1,613.36 1,364.20 1,432.71 1,570.12
            Account Payables 0 0 600.00 600.00 0
            Current Accrued Liabilities 0 0 380.79 380.79 0
      Short-Term Debt 27.37 0 0 0 0
      Other Current Liabilities 571.54 721.04 958.67 851.59 3,029.17
   Non-Current Liabilities 19.66 90.36 147.75 433.57 293.97
      Long-Term Debt 0 90.36 147.75 433.57 293.97
      Other Non-Current Liabilities 0 0.00 0.00 0.00 0.00
Equity 4,489.60 3,853.45 6,776.52 6,405.07 5,734.02
   Shareholders Equity 4,489.60 3,853.45 6,776.52 6,405.07 5,734.02
      Capital Stock 1.90 1.27 13.05 11.33 9.98
      Share Premium 35,463.77 33,692.02 32,022.17 29,805.03 25,920.86
      Retained Earnings -30,976.07 -29,839.84 -25,858.70 -24,011.29 -20,196.82
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income 0 0 0 0 0
   Minority Interest 0 0 0 0 0
Debt 47.03 90.36 147.75 433.57 293.97
Net Debt 0 0 0 362.49 0
Common Shares Outstanding 1,859.53 1,232.33 13,010.41 11,293.03 9,895.60
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Revenues 2,989.60 3,804.94 4,038.19 4,632.53 5,213.12
Cost Of Revenue 2,243.61 2,535.86 0 0 0
Gross Profit 745.99 1,269.08 0 0 0
Operating Expenses 2,005.41 2,719.74 6,164.78 8,447.00 11,258.13
   Selling, General and Administrative Expenses 1,024.51 1,519.19 3,540.23 5,664.49 7,742.85
   Other Operating Expenses 980.90 1,200.55 2,624.55 2,782.51 3,515.28
Operating Income -1,259.43 -1,450.66 -2,126.60 -3,814.47 -6,045.01
Net Non-Operating Income 123.20 -2,530.48 279.19 0.00 -1,357.34
Interest Expense 104.20 0.00 0.00 0.00 0.00
EBT -1,136.22 -3,981.14 -1,847.41 -3,814.47 -7,402.35
Income Tax 0.00 0.00 0.00 0.00 0.00
Net Income Including Non-Controlling Interests 0 0 0 3,814.47 -7,402.35
Net Income Non-Controlling Interests 0 0 0 -7,628.94 0.00
Net Income -1,136.22 -3,981.14 -1,847.41 -3,814.47 -7,402.35
EBIT -1,032.02 -3,981.14 -1,847.41 -3,814.47 -7,402.35
Deprecation and Amortization 0.00 0.00 0.00 76.16 234.26
EBITDA 0 0 0 -3,738.31 -7,168.09
EPS -0.00 -0.00 -0.00 0 0
Diluted EPS -0.00 -0.00 -0.00 0 0
Average Shares Outstanding Basic 1,458.69 1,032.67 11,968.06 0 0
Average Shares Outstanding Diluted 1,458.69 1,032.67 11,968.06 0 0
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow -1,084.29 -806.16 -546.66 -1,069.94 -959.07
   Operating Net Income -1,136.22 -3,981.14 -1,847.41 -3,814.47 -7,402.35
   Deprecation and Amortization 0 0 0 76.16 234.26
   Deferred Income Tax 0 0 0 0 0
   Share Based Compensation 0 361.36 1,141.93 2,687.90 3,284.57
   Change in Working Capital -141.71 241.58 209.90 -550.29 1,220.36
   Other Operating Activities 193.64 2,572.03 -51.09 530.76 1,704.09
Investing Cash Flow 0 165.00 0 0 0
   Capital Expenditure 0.00 0.00 0.00 0.00 0.00
   Net Purchase/Sale of PPE 0 0 0 0 0
   Net Purchase/Sale of Investments Net 0 0 0 100.00 0
   Net Purchase/Sale of Business 0 0 0 0 0
   Other Investing Activities 0 165.00 0 0 0
Financing Cash Flow 1,099.51 483.14 725.05 764.60 847.54
   Net Issuance/Repayment of Debt 1,059.99 -57.39 0 239.59 0
   Net Issuance/Repurchase of Equity 168.00 572.91 725.05 525.00 847.54
   Dividends Paid 0 0 0 0 0
   Other Financing Activities -128.48 -32.38 0.00 0.00 0.00
Net Change in Cash 15.22 -158.03 178.39 -305.35 0
   Cash at Beginning of Period 91.44 249.46 71.08 0 0
   Cash at End of Period 106.65 91.44 249.46 0 0
Free Cash Flow 0 0 0 0 0
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 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Assets 7,175.75 6,645.93 7,156.91 6,345.81 6,522.40 6,343.25 6,278.22 9,276.67 9,247.14 9,283.11 9,064.95 9,348.11 9,122.93 10,606.70 10,627.27
   Current Assets 1,333.32 803.50 1,314.47 503.38 679.97 500.81 435.78 910.20 880.67 916.64 698.49 981.64 756.47 2,234.76 2,184.65
      Cash and Short-Term Investments 684.29 340.21 1,072.42 106.65 87.67 39.60 91.44 249.72 249.46 361.73 23.49 8.29 71.08 89.12 376.43
            Cash and Cash Equivalents 684.29 340.21 1,072.42 106.65 87.67 39.60 91.44 249.72 249.46 361.73 23.49 8.29 71.08 89.12 376.43
            Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Net Receivables 611.72 412.22 175.23 372.72 546.92 391.08 304.81 344.45 336.03 231.89 302.59 697.20 464.85 1,022.19 722.16
      Inventory 0 0 0 0 0 0 0 -523.44 -523.44 0 44.50 156.60 156.60 998.44 998.44
      Other Current Assets 37.30 51.08 66.83 24.01 45.38 70.13 39.53 839.47 818.62 323.03 327.90 119.55 63.94 125.01 87.63
   Non-Current Assets 5,842.43 5,842.43 5,842.43 5,842.43 5,842.43 5,842.43 5,842.43 8,366.47 8,366.47 8,366.47 8,366.47 8,366.47 8,366.47 8,371.94 8,442.62
      Property, Plant, Equipment Net 0 0 0 0 0 0 0 0 0 0 0 0 0 5.47 76.16
      Goodwill 5,842.43 5,842.43 5,842.43 5,842.43 5,842.43 5,842.43 5,842.43 8,366.47 8,366.47 8,366.47 8,366.47 8,366.47 8,366.47 8,366.47 8,366.47
      Intangible Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0 240.00
      Long-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Non-Current Deferred Assets 0 0 0 318.61 0 0 324.16 0 0 0 0 0 0 0 0
      Other Non-Current Assets 0.00 0.00 0.00 -318.61 0.00 0.00 -324.16 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -240.00
Liabilities 1,178.42 1,195.59 1,562.91 1,856.21 2,037.52 2,638.97 2,424.77 2,752.16 2,470.62 2,483.63 2,919.24 3,137.02 2,717.86 4,869.91 4,893.26
   Current Liabilities 1,176.31 1,187.64 1,555.88 1,836.55 2,030.41 2,638.97 2,334.41 2,623.51 2,322.87 2,329.25 2,625.27 2,843.04 2,284.30 4,436.34 4,599.29
      Payables and Expenses 776.57 924.50 941.50 1,237.64 1,761.51 1,913.17 1,613.36 153.84 1,364.20 1,651.91 1,657.43 1,699.71 1,432.71 1,718.67 1,570.12
            Account Payables 626.74 774.67 0 0 1,611.67 27.01 0 153.84 600.00 600.00 600.00 600.00 600.00 0 0
            Current Accrued Liabilities 0 0 0 0 0 0 0 0 380.79 0 0 0 380.79 0 0
      Short-Term Debt 0.73 43.88 64.09 27.37 41.95 71.00 0 0 0 0 0 0 0 0 0
      Other Current Liabilities 399.00 219.25 550.29 571.54 226.96 654.80 721.04 2,469.67 958.67 677.34 967.84 1,143.34 851.59 2,717.67 3,029.17
   Non-Current Liabilities 2.11 7.95 7.04 19.66 7.11 0.00 90.36 128.66 147.75 154.38 293.97 293.97 433.57 433.57 293.97
      Long-Term Debt 2.11 7.95 0 0 7.11 0 90.36 128.66 147.75 154.38 293.97 293.97 433.57 433.57 293.97
      Other Non-Current Liabilities 0.00 0.00 0 0 0.00 0 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Equity 5,997.33 5,450.35 5,593.99 4,489.60 4,484.88 3,704.28 3,853.45 6,524.50 6,776.52 6,799.48 6,145.71 6,211.09 6,405.07 5,736.79 5,734.02
   Shareholders Equity 5,997.33 5,450.35 5,593.99 4,489.60 4,484.88 3,704.28 3,853.45 6,524.50 6,776.52 6,799.48 6,145.71 6,211.09 6,405.07 5,736.79 5,734.02
      Capital Stock 11.69 6.46 2.15 1.90 1.64 1.29 1.27 13.06 13.05 13.05 11.77 11.44 11.33 10.10 9.98
      Share Premium 40,618.46 38,802.34 37,044.22 35,463.77 35,264.01 33,721.48 33,692.02 32,170.03 32,022.17 31,787.16 30,735.14 30,237.49 29,805.03 26,671.46 25,920.86
      Retained Earnings -34,670.99 -33,358.45 -31,452.37 -30,976.07 -30,780.78 -30,018.50 -29,839.84 -26,258.59 -25,858.70 -25,600.72 -25,201.20 -24,637.84 -24,011.29 -20,944.77 -20,196.82
      Treasury Shares 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
   Minority Interest 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Debt 2.85 51.83 71.12 47.03 49.06 71.00 90.36 128.66 147.75 154.38 293.97 293.97 433.57 433.57 293.97
Net Debt 0 0 0 0 0 31.40 0 0 0 0 270.48 285.68 362.49 344.45 0
Common Shares Outstanding 11,653.70 6,420.56 2,105.76 1,859.53 1,599.37 1,255.40 1,232.33 13,021.74 13,010.41 13,007.41 11,726.43 11,395.65 11,293.03 10,029.43 9,895.60
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 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-03-31
Revenues 705.80 682.63 720.30 1,417.78 759.72 0 812.10 997.45 1,027.87 986.95 992.42 1,030.95 1,148.26
Cost Of Revenue 453.87 502.21 583.44 1,013.00 627.15 0 603.47 689.46 0 0 0 0 0
Interest Expense 1,173.68 1,534.45 142.31 72.74 31.46 0 0.00 0.00 -32.76 0.00 32.76 0.00 0.00
Non-Interest Expense 390.78 473.94 0 0 526.07 0 0 0 0 0 0 0 0
Gross Profit 251.93 180.42 136.86 404.77 132.58 0 208.63 307.99 0 0 0 0 0
Operating Expenses 390.78 473.94 470.86 1,092.25 526.07 0 387.09 707.88 1,285.84 1,526.07 1,555.79 1,797.09 1,896.20
   Selling, General and Administrative Expenses 390.78 473.94 266.88 270.50 526.07 0 227.94 707.88 675.82 832.72 932.24 1,099.45 1,201.26
   Other Operating Expenses 0 0 203.98 821.75 0 0 159.15 0.00 610.02 693.35 623.55 697.64 694.94
Operating Income -138.86 -293.53 -334.00 -687.47 -393.50 0 -178.46 -399.89 -257.97 -539.12 -563.36 -766.14 -747.94
Net Non-Operating Income 0 0 -142.31 123.40 0 0 -0.20 0.00 0.00 139.60 0.00 139.59 0.00
EBT -1,312.54 -1,906.09 -476.30 -532.60 -424.96 0 -178.66 -399.89 -257.97 -399.52 -563.36 -626.55 -747.94
Income Tax 0 0 0.00 0.00 0 0 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Income Including Non-Controlling Interests -1,312.54 -1,906.09 0 0 -424.96 0 0 0 0 0 0 0 -747.94
Net Income Non-Controlling Interests 0 0 0 0 0 0 0 0 0 0 0 0 0.00
Net Income -1,312.54 -1,906.09 -476.30 -532.60 -424.96 0 -178.66 -399.89 -257.97 -399.52 -563.36 -626.55 -747.94
EBIT -138.86 -371.63 -334.00 -459.87 -393.50 0 -178.66 -399.89 -290.74 -399.52 -530.60 -626.55 -747.94
Deprecation and Amortization 0 0 0.00 0.00 0 0 0.00 0.00 0.00 0.00 0.00 0.00 70.68
EBITDA -138.86 -371.63 0 0 -393.50 0 0 0 0 0 0 0 -677.26
EPS -0.00 -0.00 -0.00 0.00 -0.00 -0.00 -0.00 -0.00 0.00 -0.00 -0.00 0 0
Diluted EPS -0.00 -0.00 -0.00 0.00 -0.00 -0.00 -0.00 -0.00 0.00 -0.00 -0.00 -0.00 0
Average Shares Outstanding Basic 8,497.15 4,170.34 1,925.39 1,735.40 1,560.21 1,298.52 1,240.63 13,019.13 24,364.77 12,069.41 11,438.07 0 0
Average Shares Outstanding Diluted 8,497.15 4,170.34 1,925.39 1,735.40 1,560.21 1,298.52 1,240.63 13,019.13 36,537.35 0 0 11,334.91 0
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-03-31
Operating Cash Flow -358.08 -651.83 -404.62 -609.55 -59.48 19.35 -49.48 -449.60 15.20 -62.78 -426.90
   Operating Net Income -1,312.54 -1,906.09 -476.30 -424.96 -178.66 -399.89 368.57 -1,026.07 -563.36 -626.55 -747.94
   Deprecation and Amortization 0 0 0 0 0 0 0 0.00 0.00 0 70.68
   Deferred Income Tax 0 0 0 0 0 0 0 0.00 0.00 0 0
   Share Based Compensation 0 0 0 0 0 147.87 532.99 310.96 -49.59 347.57 500.72
   Change in Working Capital -96.77 -214.78 -30.83 -301.53 89.69 271.36 -391.59 155.35 137.23 308.92 -235.36
   Other Operating Activities 0 0 102.51 116.94 29.48 0.00 -559.46 110.17 490.92 -92.72 -15.00
Investing Cash Flow 0 0 0 0 0 0 0 0.00 0.00 0 0
   Capital Expenditure 0 0 0.00 0 0.00 0.00 0.00 0.00 0.00 0.00 0.00
   Net Purchase/Sale of PPE 0 0 0 0 0 0 0 0.00 0.00 0 0
   Net Purchase/Sale of Investments Net 0 0 0 0 0 0 0 0.00 0.00 0 0
   Net Purchase/Sale of Business 0 0 0 0 0 0 0 0.00 0.00 0 0
   Net Loan & Lease Activity 0 0 0 0 0
   Other Investing Activities 0 0 0 0 0 0 0 0.00 0.00 0 0
Financing Cash Flow 702.17 -80.37 1,370.38 679.96 7.65 -19.09 0.00 725.05 0.00 0 139.59
   Net Issuance/Repayment of Debt 0 -12.75 1,370.38 679.96 7.65 0 0 0.00 0.00 0 0
   Net Issuance/Repurchase of Equity 0 0 7,256.36 0 0 0 0.00 725.05 0.00 0 139.59
   Dividends Paid 0 0 0 0 0 0 0 0.00 0.00 0 0
   Other Financing Activities 0 0 -7,256.36 0.00 0.00 -19.09 0.00 0.00 0.00 0 0.00
Net Change in Cash 344.09 -732.21 965.76 70.40 -51.84 0.26 -49.48 275.45 15.20 -62.78 0
   Cash at Beginning of Period 340.21 1,072.42 106.65 17.26 91.44 249.46 298.94 86.27 8.29 71.08 0
   Cash at End of Period 684.29 340.21 1,072.42 87.67 39.60 249.72 249.46 361.73 23.49 8.29 0
Free Cash Flow -358.08 -651.83 0 -609.55 0 0 0 0.00 0.00 0 0