WSBF - Waterstone Financial, Inc.

WSBF

Valuation Ratios

Breakdown	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31
Price to Earnings	13.31	30.21	19.37	7.34
Price to Sales
Book Value Per Common Share	52.60	50.81	50.12	52.36	49.40
Price to Book	0.26	0.28	0.34	0.42
Price to Operating Cash Flow	5.02	-11.23	1.80	3.33
Price to Free Cash Flow
Enterprise Value to EBITDA	19090.84	34412.26	44584.11	19685.32

Breakdown	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31
Price to Earnings	15.00	23.41	79.12		20.42	27.21	76.06		23.80	48.30	151.30		19.24	28.90	84.09		8.36	11.92	22.69
Price to Sales
Book Value Per Common Share	18.65	18.19	17.70	52.60	17.58	17.20	16.98	50.81	16.60	16.64	16.73	50.12	16.85	17.00	17.07	52.36	17.68	17.12	17.07	49.40
Price to Book	0.84	0.76	0.76	0.26	0.84	0.74	0.72	0.28	0.66	0.87	0.90	0.34	0.96	1.00	1.13	0.42	1.16	1.15	1.20
Price to Operating Cash Flow	13.34	-21.39	9.19		11.12	-4.85	-23.29		-8.41	-4.18	-10.07		2.65	3.26	3.14		3.94	6.08	8.16
Price to Free Cash Flow
Enterprise Value to EBITDA	41152.85	57658.83	131183.81		40618.09	54026.29	115322.28		47662.11	106505.36	283073.69		102649.99	157481.40	421901.08		55598.02	78611.04	151638.14

Earnings Data

Breakdown	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Earning YoY	114.89	-47.19	-70.13	-10.24
Revenue YoY
EBITDA YoY	62.48	-2.21	-68.86	-16.03
Net Profit YoY	0.30	-18.37	-67.76	-12.76

Breakdown	2025-09-30	2025-06-30	2024-09-30	2024-06-30	2023-09-30	2023-06-30	2023-03-31	2022-09-30	2022-06-30	2022-03-31	2021-09-30	2021-06-30
Earning YoY	76.27	247.06	53.19	193.75	53.33	200.00		42.37	156.52		48.48	83.33
Revenue YoY
EBITDA YoY	56.14	127.49	52.72	119.47	64.81	148.84	-21.70	42.76	122.38	-87.13	46.33	85.59
Net Profit YoY	72.12	134.11	54.03	188.02	45.30	107.45		39.68	151.03		48.42	83.84

Financial Strength

Breakdown	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31
Cash Per Common Share	5.02	4.99	6.52	33.90	8.76
Quick Ratio
Current Ratio
Debt to Equity	0.65	0.64	0.60	0.58	0.59
Long-Term Debt to Equity

Breakdown	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31
Cash Per Common Share	5.97	7.81	4.72	4.81	4.43	4.39	4.79	4.95	6.09	5.92	5.18	6.44	5.69	9.93	23.23	32.46	15.07	9.61	8.36	8.54
Quick Ratio
Current Ratio
Debt to Equity	5.57	5.61	5.37	0.65	5.56	5.84	5.61	0.64	5.41	5.27	4.78	0.60	4.25	4.02	3.86	0.58	4.05	4.10	4.10	0.59
Long-Term Debt to Equity

Profitability

Breakdown	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31
ROA	0.39	0.39	0.51	1.45	1.69
ROE	0.65	0.64	0.82	2.28	2.69
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin

Breakdown	2025-09-30	2025-06-30	2025-03-31	2024-09-30	2024-06-30	2024-03-31	2023-09-30	2023-06-30	2023-03-31	2022-09-30	2022-06-30	2022-03-31	2021-09-30	2021-06-30	2021-03-31
ROA	0.82	0.48	0.21	0.60	0.38	0.14	0.66	0.45	0.23	0.94	0.68	0.26	2.61	1.78	0.97
ROE	5.41	3.18	1.36	3.94	2.61	0.90	4.20	2.82	1.32	4.93	3.44	1.28	13.16	9.09	4.96
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin

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	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	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	4,761,528.00	4,774,296.00	4,438,359.00	4,882,013.00	4,787,529.00
Deposits	1,359,897.00	1,190,624.00	1,199,012.00	2,494,172.00	1,184,870.00
Cash and Short-Term Investments	93,118.00	100,617.00	142,792.00	804,877.00	214,190.00
Cash and Cash Equivalents	93,118.00	100,617.00	142,792.00	804,877.00	214,190.00
Short-Term Investments	0	0	0	0	0
Net Receivables	13,199,818.00	16,472,175.00	14,766,583.00	405,000.00	18,823.00
Inventory	0	0	0	0	0
Other Current Assets	0	0	0	0	0
Property, Plant, Equipment Net	19,389.00	19,995.00	21,105.00	28,073.00	30,322.00
Real Estate	0	0	145.00	444.00	966.00
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	0	0	0	0	0
Other Non-Current Assets	0	0	0	0	0
Liabilities	1,870,473.00	1,869,333.00	1,661,186.00	1,783,085.00	1,771,469.00
Payables and Expenses	0	0	0	0	0
Account Payables	0	0	0	0	0
Current Accrued Liabilities	0	0	0	0	0
Short-Term Debt	0	147,054.00	0	0	29,000.00
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	2,891,055.00	2,904,963.00	2,777,173.00	3,098,928.00	3,016,060.00
Shareholders Equity	1,017,405.00	1,032,168.00	1,111,458.00	1,298,319.00	1,239,354.00
Capital Stock	193.00	203.00	222.00	248.00	251.00
Share Premium	91,214.00	103,908.00	128,550.00	174,505.00	180,684.00
Retained Earnings	277,196.00	269,606.00	274,246.00	273,398.00	245,287.00
Treasury Shares	0	0	0	0	0
Accumulated Other Comprehensive Income	-18,786.00	-17,792.00	-19,476.00	-1,135.00	2,326.00
Minority Interest	0	0	0	0	0
Investments	12,406,631.00	15,610,755.00	14,053,535.00	1,074,096.00	159,619.00
Debt	1,716,891.00	1,385,054.00	973,568.00	1,869,254.00	1,931,148.00
Net Debt	1,623,773.00	1,284,437.00	830,776.00	1,064,377.00	1,716,958.00
Common Shares Outstanding	19,343.25	20,314.79	22,174.22	24,795.12	25,087.98

Breakdown	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31
Cost Of Revenue	336.00	656.00	968.00	0	0
Interest Income	114,273.00	100,420.00	70,852.00	70,432.00	79,172.00
Interest Expense	67,000.00	48,993.00	13,291.00	14,368.00	24,984.00
Net Interest	111,788.00	110,606.00	134,022.00	182,441.00	188,810.00
Non-Interest Income	89,302.00	81,185.00	105,555.00	203,195.00	244,017.00
Non-Interest Expense	223,940.00	240,093.00	274,757.00	341,830.00	366,779.00
Provisions for Credit Losses	-336.00	656.00	968.00	0	0
Selling, General and Administrative Expenses	34,054.00	35,486.00	36,682.00	39,386.00	54,651.00
EBT	66,788.00	31,571.00	68,439.00	254,981.00	297,385.00
Income Tax	10,724.00	3,446.00	9,978.00	42,608.00	53,950.00
Net Income Including Non-Controlling Interests	0	0	0	70,791.00	81,145.00
Net Income Non-Controlling Interests	0	0	0	0.00	0.00
Net Income	18,688.00	18,633.00	22,825.00	70,791.00	81,145.00
EBIT	133,788.00	80,564.00	81,730.00	269,349.00	322,369.00
Deprecation and Amortization	2,474.00	3,301.00	4,033.00	6,048.00	5,606.00
EBITDA	136,262.00	83,865.00	85,763.00	275,397.00	327,975.00
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	18,556.00	20,158.00	21,884.00	23,741.00	24,464.00
Average Shares Outstanding Diluted	18,589.00	20,196.00	22,010.00	23,931.00	24,607.00

Breakdown	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31
Operating Cash Flow	49,716.00	-25,487.00	209,206.00	155,919.00	-99,005.00
Operating Net Income	74,752.00	37,500.00	77,948.00	283,164.00	324,580.00
Deprecation and Amortization	2,474.00	3,301.00	4,033.00	6,048.00	5,606.00
Deferred Income Tax	980.00	-1,073.00	-484.00	1,379.00	-2,620.00
Share Based Compensation	316.00	277.00	583.00	745.00	716.00
Change in Working Capital	-6,221.00	-6,986.00	27,762.00	-16,693.00	-7,592.00
Other Operating Activities	-22,585.00	-58,506.00	99,364.00	-118,724.00	-419,695.00
Investing Cash Flow	-23,963.00	-159,224.00	-335,742.00	147,617.00	44,176.00
Capital Expenditure	0.00	0.00	0.00	0.00	0.00
Net Purchase/Sale of PPE	1,099.00	700.00	701.00	778.00	1,225.00
Net Purchase/Sale of Investments Net	66,433.00	54,356.00	140,743.00	82,742.00	35,920.00
Net Purchase/Sale of Business	0	0	0	0	0
Other Investing Activities	-91,495.00	-214,280.00	-477,186.00	64,097.00	7,031.00
Financing Cash Flow	-36,576.00	150,759.00	-222,935.00	5,191.00	64,952.00
Net Issuance/Repayment of Debt	185,465.00	832,270.00	849,657.00	-30,947.00	24,512.00
Net Issuance/Repurchase of Equity	33,154.00	53,704.00	96,788.00	24,966.00	79,892.00
Dividends Paid	11,268.00	15,363.00	30,260.00	30,388.00	31,520.00
Other Financing Activities	-266,463.00	-750,578.00	-1,199,640.00	-19,216.00	-70,972.00
Net Change in Cash	-10,823.00	-33,952.00	-349,471.00	308,727.00	10,123.00
Cash at Beginning of Period	50,584.00	70,373.00	396,113.00	67,995.00	84,644.00
Cash at End of Period	39,761.00	36,421.00	46,642.00	376,722.00	94,767.00
Free Cash Flow	0	0	0	0	0

Breakdown	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31
Assets	2,269,169.00	2,256,560.00	2,175,367.00	4,761,528.00	2,244,336.00	2,289,614.00	2,234,724.00	4,774,296.00	2,221,358.00	2,229,825.00	2,114,499.00	4,438,359.00	1,975,051.00	1,941,097.00	2,004,614.00	4,882,013.00	2,234,111.00	2,201,953.00	2,198,011.00	4,787,529.00
Deposits	1,385,973.00	1,384,707.00	1,381,200.00	1,359,897.00	1,263,841.00	1,223,923.00	1,199,894.00	1,190,624.00	1,205,162.00	1,186,968.00	1,182,884.00	1,199,012.00	1,187,128.00	1,213,230.00	1,210,448.00	2,494,172.00	1,246,564.00	1,231,060.00	1,219,691.00	1,184,870.00
Cash and Short-Term Investments	107,250.00	141,566.00	86,298.00	93,118.00	82,536.00	82,366.00	91,162.00	100,617.00	124,326.00	122,117.00	108,124.00	142,792.00	126,179.00	224,679.00	537,341.00	804,877.00	358,614.00	228,739.00	198,401.00	214,190.00
Cash and Cash Equivalents	107,250.00	141,566.00	86,298.00	93,118.00	82,536.00	82,366.00	91,162.00	100,617.00	124,326.00	122,117.00	108,124.00	142,792.00	126,179.00	224,679.00	537,341.00	804,877.00	358,614.00	228,739.00	198,401.00	214,190.00
Short-Term Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Receivables	13,426,428.00	13,120,369.00	13,087,180.00	13,199,818.00	16,731,283.00	16,663,637.00	16,486,558.00	16,472,175.00	16,332,005.00	15,998,004.00	15,328,068.00	14,766,583.00	13,336,244.00	12,540,299.00	11,931,765.00	405,000.00	1,226,834.00	1,296,441.00	17,780.00	18,823.00
Inventory	0	0	0	0	0	0	0	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	0	0	0	0	0	0	0
Property, Plant, Equipment Net	18,737.00	18,874.00	19,223.00	19,389.00	19,450.00	19,663.00	19,936.00	19,995.00	20,040.00	20,335.00	20,716.00	21,105.00	21,491.00	21,781.00	21,932.00	28,073.00	28,476.00	29,486.00	30,502.00	30,322.00
Real Estate	0	0	0	0	0	0	0	0	0	0	0	145.00	0	0	0	444.00	444.00	450.00	450.00	966.00
Goodwill	0	0	0	0	0	0	0	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	0	0	0	1,161.00	9,243.00	8,830.00	0
Long-Term Investments	0	0	0	0	0	0	0	0	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	0	0	0	0	0	0	0	0
Other Non-Current Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Liabilities	1,923,674.00	1,915,069.00	1,834,007.00	1,870,473.00	1,902,334.00	1,954,668.00	1,896,721.00	1,869,333.00	1,875,032.00	1,874,062.00	1,748,692.00	1,661,186.00	1,598,877.00	1,554,717.00	1,592,362.00	1,783,085.00	1,791,540.00	1,770,215.00	1,767,330.00	1,771,469.00
Payables and Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Account Payables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Current Accrued Liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short-Term Debt	0	0	0	0	137,127.00	144,824.00	145,658.00	147,054.00	102,900.00	0	0	0	0	0	0	0	0	0	0	29,000.00
Other Current Liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long-Term Debt	0	0	0	0	0	0	0	0	0	0	0	0	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	0	0	0	0	0	0	0
Equity	345,495.00	341,491.00	341,360.00	2,891,055.00	342,002.00	334,946.00	338,003.00	2,904,963.00	346,326.00	355,763.00	365,807.00	2,777,173.00	376,174.00	386,380.00	412,252.00	3,098,928.00	442,571.00	431,738.00	430,681.00	3,016,060.00
Shareholders Equity	345,495.00	341,491.00	341,360.00	1,017,405.00	342,002.00	334,946.00	338,003.00	1,032,168.00	346,326.00	355,763.00	365,807.00	1,111,458.00	376,174.00	386,380.00	412,252.00	1,298,319.00	442,571.00	431,738.00	430,681.00	1,239,354.00
Capital Stock	185.00	188.00	193.00	193.00	194.00	195.00	199.00	203.00	209.00	214.00	219.00	222.00	223.00	227.00	241.00	248.00	250.00	252.00	252.00	251.00
Share Premium	80,521.00	84,106.00	90,470.00	91,214.00	92,789.00	92,964.00	98,610.00	103,908.00	110,020.00	116,611.00	123,448.00	128,550.00	130,731.00	137,547.00	161,354.00	174,505.00	179,312.00	182,346.00	182,533.00	180,684.00
Retained Earnings	287,868.00	282,578.00	277,521.00	277,196.00	274,748.00	272,778.00	269,827.00	269,606.00	272,535.00	272,229.00	272,268.00	274,246.00	277,514.00	276,444.00	272,740.00	273,398.00	277,316.00	263,048.00	261,859.00	245,287.00
Treasury Shares	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Other Comprehensive Income	-13,287.00	-15,292.00	-16,438.00	-18,786.00	-14,750.00	-19,715.00	-19,061.00	-17,792.00	-24,272.00	-20,828.00	-17,369.00	-19,476.00	-18,941.00	-14,188.00	-8,137.00	-1,135.00	233.00	929.00	1,170.00	2,326.00
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments	12,689,261.00	12,369,155.00	12,356,541.00	12,406,631.00	15,890,288.00	15,729,947.00	15,613,415.00	15,610,755.00	15,438,626.00	15,098,497.00	14,563,617.00	14,053,535.00	12,728,699.00	12,006,949.00	11,527,759.00	1,074,096.00	1,048,980.00	1,033,344.00	162,263.00	159,619.00
Debt	469,061.00	465,726.00	395,853.00	1,716,891.00	1,863,254.00	1,431,324.00	1,392,658.00	1,385,054.00	1,390,917.00	1,424,754.00	1,293,392.00	973,568.00	889,902.00	837,200.00	967,956.00	1,869,254.00	1,870,000.00	1,870,000.00	1,900,010.00	1,931,148.00
Net Debt	361,811.00	324,160.00	309,555.00	1,623,773.00	1,780,718.00	1,348,958.00	1,301,496.00	1,284,437.00	1,266,591.00	1,302,637.00	1,185,268.00	830,776.00	763,723.00	612,521.00	430,615.00	1,064,377.00	1,511,386.00	1,641,261.00	1,701,609.00	1,716,958.00
Common Shares Outstanding	18,524.12	18,776.23	19,281.23	19,343.25	19,456.94	19,478.62	19,909.64	20,314.79	20,859.65	21,375.88	21,867.23	22,174.22	22,318.47	22,733.77	24,146.92	24,795.12	25,038.05	25,213.16	25,230.28	25,087.98

Breakdown	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31
Cost Of Revenue	1,672.00	1,134.00	1,116.00	-1,117.00	1,070.00	316.00	67.00	-1,541.00	1,091.00	646.00	460.00	456.00	304.00	56.00	152.00	0	0	0	0
Interest Income	85,996.00	56,440.00	27,755.00	-51,673.00	84,116.00	54,925.00	26,905.00	-40,121.00	72,514.00	46,137.00	21,890.00	-25,195.00	49,571.00	31,446.00	15,030.00	-36,629.00	53,299.00	35,793.00	17,969.00
Interest Expense	44,973.00	30,156.00	15,179.00	-32,660.00	50,783.00	33,109.00	15,768.00	-12,824.00	34,055.00	19,667.00	8,095.00	-3,604.00	8,228.00	5,501.00	3,166.00	-8,169.00	10,956.00	7,564.00	4,017.00
Net Interest	41,023.00	26,284.00	12,576.00	45,502.00	33,333.00	21,816.00	11,137.00	31,882.00	38,459.00	26,470.00	13,795.00	54,870.00	41,343.00	25,945.00	11,864.00	97,917.00	42,343.00	28,229.00	13,952.00
Non-Interest Income	63,728.00	41,426.00	17,097.00	-49,988.00	70,297.00	47,745.00	21,248.00	-43,757.00	64,309.00	42,079.00	18,554.00	-73,779.00	88,460.00	61,056.00	29,818.00	-122,426.00	161,179.00	108,243.00	56,199.00
Non-Interest Expense	82,193.00	54,727.00	26,350.00	52,212.00	86,369.00	57,809.00	27,550.00	60,907.00	90,050.00	60,029.00	29,107.00	64,160.00	105,678.00	69,984.00	34,935.00	82,913.00	129,620.00	86,297.00	43,000.00
Provisions for Credit Losses	-1,672.00	-1,134.00	-1,116.00	983.00	-1,070.00	-316.00	67.00	-1,541.00	1,091.00	646.00	460.00	872.00	304.00	-56.00	-152.00	0	0	0	0
Selling, General and Administrative Expenses	29,286.00	20,808.00	11,670.00	-19,286.00	26,528.00	17,904.00	8,908.00	-17,646.00	26,422.00	17,660.00	9,050.00	-18,446.00	27,748.00	18,110.00	9,270.00	-18,046.00	28,900.00	18,941.00	9,591.00
EBT	23,394.00	13,550.00	3,881.00	32,314.00	17,796.00	11,910.00	4,768.00	9,288.00	11,627.00	7,874.00	2,782.00	20,750.00	23,821.00	17,045.00	6,823.00	98,343.00	76,422.00	51,995.00	28,221.00
Income Tax	4,705.00	2,787.00	845.00	1,516.00	4,318.00	3,160.00	1,730.00	-1,105.00	2,212.00	1,712.00	627.00	-586.00	5,269.00	3,763.00	1,532.00	4,790.00	18,184.00	12,757.00	6,877.00
Net Income Including Non-Controlling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-48,029.00	58,238.00	39,238.00	21,344.00
Net Income Non-Controlling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.00	0.00	0.00	0.00
Net Income	18,689.00	10,858.00	4,638.00	-6,578.00	13,478.00	8,750.00	3,038.00	-10,776.00	14,559.00	10,020.00	4,830.00	-14,300.00	18,552.00	13,282.00	5,291.00	-48,029.00	58,238.00	39,238.00	21,344.00
EBIT	68,367.00	43,706.00	19,060.00	-346.00	68,579.00	45,019.00	20,536.00	-3,536.00	45,682.00	27,541.00	10,877.00	17,146.00	32,049.00	22,546.00	9,989.00	90,174.00	87,378.00	59,559.00	32,238.00
Deprecation and Amortization	1,862.00	1,271.00	711.00	-1,012.00	1,881.00	1,119.00	486.00	-1,335.00	2,268.00	1,553.00	815.00	-2,213.00	3,094.00	2,071.00	1,081.00	-4,143.00	4,924.00	3,518.00	1,749.00
EBITDA	70,229.00	44,977.00	19,771.00	-1,358.00	70,460.00	46,138.00	21,022.00	-4,871.00	47,950.00	29,094.00	11,692.00	14,933.00	35,143.00	24,617.00	11,070.00	86,031.00	92,302.00	63,077.00	33,987.00
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	0.00	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	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Shares Outstanding Basic	17,962.00	18,127.00	18,267.00	17,800.00	18,631.00	18,772.00	19,021.00	18,687.00	20,420.00	20,635.00	20,890.00	19,585.00	22,193.00	22,626.00	23,132.00	23,647.00	23,790.00	23,792.00	23,735.00
Average Shares Outstanding Diluted	17,985.00	18,143.00	18,280.00	17,841.00	18,677.00	18,802.00	19,036.00	18,629.00	20,473.00	20,702.00	20,980.00	19,638.00	22,323.00	22,768.00	23,311.00	23,791.00	23,987.00	23,996.00	23,950.00

Breakdown	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31
Operating Cash Flow	21,010.00	-11,705.00	26,743.00	84,477.00	24,633.00	-49,456.00	-9,938.00	103,938.00	-26,578.00	-71,463.00	-31,384.00	-186,758.00	135,197.00	118,163.00	142,604.00	-104,057.00	123,672.00	76,913.00	59,391.00
Operating Net Income	56,067.00	32,289.00	9,108.00	-1,046.00	40,434.00	26,250.00	9,114.00	-15,696.00	28,245.00	18,486.00	6,465.00	-33,427.00	55,656.00	39,846.00	15,873.00	-73,296.00	174,714.00	117,714.00	64,032.00
Deprecation and Amortization	1,862.00	1,271.00	711.00	-1,012.00	1,881.00	1,119.00	486.00	-1,335.00	2,268.00	1,553.00	815.00	-2,213.00	3,094.00	2,071.00	1,081.00	-4,143.00	4,924.00	3,518.00	1,749.00
Deferred Income Tax	493.00	473.00	98.00	-166.00	325.00	160.00	661.00	350.00	-583.00	-901.00	61.00	438.00	-361.00	-251.00	-310.00	1,379.00	0	0	0
Share Based Compensation	336.00	188.00	82.00	-7.00	211.00	106.00	6.00	-239.00	222.00	188.00	106.00	-385.00	468.00	330.00	170.00	-364.00	564.00	370.00	175.00
Change in Working Capital	-12,009.00	-7,004.00	-5,003.00	-7,476.00	-3,237.00	-2,312.00	6,804.00	-19,286.00	9,324.00	3,567.00	-591.00	-66,326.00	61,065.00	5,978.00	27,045.00	-15,299.00	455.00	-6,804.00	4,955.00
Other Operating Activities	-25,739.00	-38,922.00	21,747.00	94,184.00	-14,981.00	-74,779.00	-27,009.00	140,144.00	-66,054.00	-94,356.00	-38,240.00	-84,845.00	15,275.00	70,189.00	98,745.00	-12,334.00	-56,985.00	-37,885.00	-11,520.00
Investing Cash Flow	-45,601.00	10,440.00	16,857.00	21,676.00	-31,268.00	-14,225.00	-146.00	144,851.00	-144,785.00	-112,749.00	-46,541.00	-25,552.00	-175,769.00	-100,752.00	-33,669.00	-84,195.00	132,293.00	64,108.00	35,411.00
Capital Expenditure	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Purchase/Sale of PPE	619.00	324.00	265.00	-587.00	745.00	551.00	390.00	209.00	283.00	156.00	52.00	-511.00	641.00	450.00	121.00	-781.00	656.00	635.00	268.00
Net Purchase/Sale of Investments Net	65,336.00	41,181.00	18,483.00	-16,263.00	45,398.00	28,643.00	8,655.00	-23,602.00	40,292.00	25,472.00	12,194.00	51,767.00	44,865.00	28,767.00	15,344.00	-103,496.00	92,569.00	65,426.00	28,243.00
Net Purchase/Sale of Business	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Investing Activities	-111,556.00	-31,065.00	-1,891.00	38,526.00	-77,411.00	-43,419.00	-9,191.00	168,244.00	-185,360.00	-138,377.00	-58,787.00	-76,808.00	-221,275.00	-129,969.00	-49,134.00	20,082.00	39,068.00	-1,953.00	6,900.00
Financing Cash Flow	38,598.00	32,427.00	-40,072.00	-136,150.00	11,621.00	68,576.00	19,377.00	-320,490.00	187,014.00	198,760.00	85,475.00	519,341.00	-263,209.00	-271,940.00	-207,127.00	-4,474.00	7,882.00	-7,049.00	8,832.00
Net Issuance/Repayment of Debt	162,542.00	99,207.00	29,335.00	-516,482.00	239,073.00	339,770.00	123,104.00	-431,868.00	631,133.00	468,093.00	164,912.00	113,509.00	382,824.00	193,973.00	159,351.00	52,770.00	-33,074.00	-33,074.00	-17,569.00
Net Issuance/Repurchase of Equity	15,751.00	11,932.00	5,406.00	3,941.00	12,750.00	11,117.00	5,346.00	12,718.00	20,662.00	13,982.00	6,342.00	-918.00	45,568.00	38,192.00	13,946.00	13,645.00	6,705.00	3,150.00	1,466.00
Dividends Paid	8,130.00	5,472.00	2,743.00	-5,949.00	8,507.00	5,761.00	2,949.00	-9,562.00	12,408.00	8,320.00	4,197.00	-34,782.00	26,048.00	21,771.00	17,223.00	-22,255.00	26,276.00	21,520.00	4,847.00
Other Financing Activities	-147,825.00	-84,184.00	-77,556.00	382,340.00	-248,709.00	-288,072.00	-112,022.00	108,222.00	-477,189.00	-291,635.00	-89,976.00	441,532.00	-717,649.00	-525,876.00	-397,647.00	-48,634.00	7,975.00	1,355.00	20,088.00
Net Change in Cash	14,007.00	31,162.00	3,528.00	-29,997.00	4,986.00	4,895.00	9,293.00	-71,701.00	15,651.00	14,548.00	7,550.00	307,031.00	-303,781.00	-254,529.00	-98,192.00	-192,726.00	263,847.00	133,972.00	103,634.00
Cash at Beginning of Period	39,761.00	39,761.00	39,761.00	69,758.00	36,421.00	36,421.00	36,421.00	108,122.00	46,642.00	46,642.00	46,642.00	-260,389.00	376,722.00	376,722.00	376,722.00	569,448.00	94,767.00	94,767.00	94,767.00
Cash at End of Period	53,768.00	70,923.00	43,289.00	39,761.00	41,407.00	41,316.00	45,714.00	36,421.00	62,293.00	61,190.00	54,192.00	46,642.00	72,941.00	122,193.00	278,530.00	376,722.00	358,614.00	228,739.00	198,401.00
Free Cash Flow	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0