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Ambev S.A.
Buy, Hold or Sell?

Let's analyse Ambev together

PenkeI guess you are interested in Ambev S.A.. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of Ambev S.A.. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

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Quick analysis of Ambev (30 sec.)










What can you expect buying and holding a share of Ambev? (30 sec.)

How much money do you get?

How much money do you get?
R$0.15
When do you have the money?
1 year
How often do you get paid?
100.0%

What is your share worth?

Current worth
R$5.06
Expected worth in 1 year
R$4.87
How sure are you?
90.0%

+ What do you gain per year?

Total Gains per Share
R$0.56
Return On Investment
4.5%

For what price can you sell your share?

Current Price per Share
R$12.45
Expected price per share
R$11.54 - R$14.12
How sure are you?
50%

1. Valuation of Ambev (5 min.)




Live pricePrice per Share (EOD)

R$12.45

Intrinsic Value Per Share

R$13.63 - R$25.36

Total Value Per Share

R$18.70 - R$30.42

2. Growth of Ambev (5 min.)




Is Ambev growing?

Current yearPrevious yearGrowGrow %
How rich?$16.1b$17.2b$92.7m0.5%

How much money is Ambev making?

Current yearPrevious yearGrowGrow %
Making money$688.3m$732.3m-$43.9m-6.4%
Net Profit Margin17.1%18.2%--

How much money comes from the company's main activities?

3. Financial Health of Ambev (5 min.)




What can you expect buying and holding a share of Ambev? (5 min.)

Welcome investor! Ambev's management wants to use your money to grow the business. In return you get a share of Ambev.

What can you expect buying and holding a share of Ambev?

First you should know what it really means to hold a share of Ambev. And how you can make/lose money.

Speculation

The Price per Share of Ambev is R$12.45. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

  • The fundamentals: the financial health trends of Ambev.
  • The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
  • The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Ambev, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

  • You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is R$5.06. Based on the TTM, the Book Value Change Per Share is R$-0.05 per quarter. Based on the YOY, the Book Value Change Per Share is R$0.01 per quarter.
  • You may receive quarterly/yearly dividend in the form of additional shares.
  • You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is R$0.19 per quarter.
Based on historical numbers we can estimate the returns while holding a share of Ambev.

How much money are you going to get?

 MRQTTMYOY5Y10Y
 R$% of Price per ShareR$% of Price per ShareR$% of Price per ShareR$% of Price per ShareR$% of Price per Share
Usd Eps0.060.4%0.050.4%0.050.4%0.040.3%0.040.3%
Usd Book Value Change Per Share-0.14-1.1%-0.01-0.1%0.000.0%0.010.1%0.010.1%
Usd Dividend Per Share0.151.2%0.040.3%0.040.3%0.030.3%0.030.3%
Usd Total Gains Per Share0.000.0%0.030.2%0.040.3%0.050.4%0.040.4%
Usd Price Per Share2.76-2.84-2.96-3.07-3.39-
Price to Earnings Ratio12.38-16.31-16.79-21.73-9,310.64-
Price-to-Total Gains Ratio604.18-287.20-11.82-92.66-511.80-
Price to Book Ratio2.71-2.60-2.73-3.15-4.61-
Price-to-Total Gains Ratio604.18-287.20-11.82-92.66-511.80-

When do you get the money?

Usd Investment
$.00
Usd Price Per Share2.50245
Number of shares399
Gains per QuarterTrailing 12 Months5 Year
Usd Dividend Per Share0.040.03
Usd Book Value Change Per Share-0.010.01
Usd Total Gains Per Share0.030.05
Gains per Quarter (399 shares)11.2118.40
Gains per Year (399 shares)44.8373.61
YearsReturn on Investment (TTM)Return on Investment (5Y)
 DividendBook Value gainTotal gainsDividendBook Value gainTotal gains
Broker costs---10---10
160-1635512364
2121-318010146138
3181-4712515269212
4242-6217020292286
5302-78215253115360
6362-93260304138434
7423-109305354161508
8483-125350405184582
9544-140395455207656
10604-156440506230730

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %
 Trailing 12 Months3Y5 Year10 YearALLTIME
  % % % % %
Earnings Per Share4.00.00.0100.0%12.00.00.0100.0%20.00.00.0100.0%40.00.00.0100.0%95.00.00.0100.0%
Book Value Change Per Share3.01.00.075.0%7.05.00.058.3%13.07.00.065.0%23.017.00.057.5%52.036.07.054.7%
Dividend per Share4.00.00.0100.0%12.00.00.0100.0%20.00.00.0100.0%40.00.00.0100.0%92.00.03.096.8%
Total Gains per Share4.00.00.0100.0%10.02.00.083.3%18.02.00.090.0%36.04.00.090.0%79.014.02.083.2%

Fundamentals of Ambev

About Ambev S.A.

Ambev S.A., through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, other non-alcoholic beverages, malt, and food products. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe and Hoegaarden, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith's, and Kokanee brands. The company also provides carbonated soft drinks, bottled water, isotonic beverages, energy drinks, coconut water, powdered and natural juices, and ready-to-drink teas under the Guaraná Antarctica, Gatorade, H2OH!, Lipton Iced Tea, Fusion, Do Bem, Pepsi-Cola, Canada Dry, Squirt, Red Rock, Red Bull, Seven Up, Nutrl, Bud Light Seltzer, Palm Bay, and Mike's brands. It offers its products through a network of third-party distributors and a direct distribution system. The company was founded in 1885 and is headquartered in São Paulo, Brazil. Ambev S.A. operates as a subsidiary of Interbrew International B.V.

Fundamental data was last updated by Penke on 2024-03-28 10:06:06.

Financial Health

Profitability Details
 Compared to previous yearCompared to industry
The company is making a huge profit.
Using its assets, the company is less efficient in making profit.
Using its investors money, the company is inefficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating efficient.
The company is efficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared to industry
The company is just able to pay all its short-term debts.
The company is just not able to pay all its short-term debts with the most liquid assets.
Solvency Details
 Compared to previous yearCompared to industry
The company is very able to pay all its debts by selling its assets.
The company is very able to pay all its debts with equity.

Valuation

Valuation Details
 Compared to previous yearCompared to industry
Based on the equity, the company is underpriced.
Based on the earnings, the company is fair priced.
Based on how much money comes from the company's main activities, the company is cheap.

1.1. Profitability of Ambev S.A..

1.1. Profitability
1.1.1. Net Profit Margin

Measures how much net profit Ambev earns for each R$1 of revenue.

  • Above 10% is considered healthy but always compare Ambev to the Beverages - Brewers industry mean.
  • A Net Profit Margin of 21.9% means that R$0.22 for each R$1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Ambev S.A.:

  • The MRQ is 21.9%. The company is making a huge profit. +2
  • The TTM is 17.1%. The company is making a huge profit. +2
Trends
Current periodCompared to+/- 
MRQ21.9%TTM17.1%+4.9%
TTM17.1%YOY18.2%-1.1%
TTM17.1%5Y18.5%-1.4%
5Y18.5%10Y21.4%-2.9%
1.1.2. Return on Assets

Shows how efficient Ambev is using its assets to generate profit.

  • Above 5% is considered healthy but always compare Ambev to the Beverages - Brewers industry mean.
  • 3.2% Return on Assets means that Ambev generated R$0.03 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Ambev S.A.:

  • The MRQ is 3.2%. Using its assets, the company is less efficient in making profit.
  • The TTM is 2.5%. Using its assets, the company is less efficient in making profit.
Trends
Current periodCompared to+/- 
MRQ3.2%TTM2.5%+0.7%
TTM2.5%YOY2.7%-0.2%
TTM2.5%5Y2.6%0.0%
5Y2.6%10Y3.0%-0.5%
1.1.3. Return on Equity

Shows how efficient Ambev is using its investors money to generate profit.

  • Above 15%-20% is considered healthy but always compare Ambev to the Beverages - Brewers industry mean.
  • 5.6% Return on Equity means Ambev generated R$0.06 for each R$1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Ambev S.A.:

  • The MRQ is 5.6%. Using its investors money, the company is less efficient in making profit.
  • The TTM is 4.1%. Using its investors money, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ5.6%TTM4.1%+1.5%
TTM4.1%YOY4.4%-0.3%
TTM4.1%5Y4.2%-0.1%
5Y4.2%10Y5.1%-0.9%

1.2. Operating Efficiency of Ambev S.A..

1.2. Operating Efficiency
1.2.1. Operating Margin

Measures how efficient Ambev is operating .

  • Measures how much profit Ambev makes for each R$1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
  • Above 15% is considered healthy but always compare Ambev to the Beverages - Brewers industry mean.
  • An Operating Margin of 25.6% means the company generated R$0.26  for each R$1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Ambev S.A.:

  • The MRQ is 25.6%. The company is operating very efficient. +2
  • The TTM is 22.5%. The company is operating efficient. +1
Trends
Current periodCompared to+/- 
MRQ25.6%TTM22.5%+3.1%
TTM22.5%YOY22.2%+0.4%
TTM22.5%5Y22.8%-0.3%
5Y22.8%10Y27.9%-5.1%
1.2.2. Operating Ratio

Measures how efficient Ambev is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Beverages - Brewers industry mean).
  • An Operation Ratio of 0.74 means that the operating costs are R$0.74 for each R$1 in net sales.

Let's take a look of the Operating Ratio trends of Ambev S.A.:

  • The MRQ is 0.744. The company is efficient in keeping operating costs low. +1
  • The TTM is 0.780. The company is efficient in keeping operating costs low. +1
Trends
Current periodCompared to+/- 
MRQ0.744TTM0.780-0.036
TTM0.780YOY0.781-0.001
TTM0.7805Y0.752+0.028
5Y0.75210Y0.697+0.055

1.3. Liquidity of Ambev S.A..

1.3. Liquidity
1.3.1. Current Ratio

Measures if Ambev is able to pay off Short-term Debt.

  • Above 1.5 is considered healthy (always compare to Beverages - Brewers industry mean).
  • A Current Ratio of 0.89 means the company has R$0.89 in assets for each R$1 in short-term debts.

Let's take a look of the Current Ratio trends of Ambev S.A.:

  • The MRQ is 0.892. The company is just not able to pay all its short-term debts. -1
  • The TTM is 1.000. The company is just able to pay all its short-term debts.
Trends
Current periodCompared to+/- 
MRQ0.892TTM1.000-0.108
TTM1.000YOY1.072-0.072
TTM1.0005Y1.120-0.120
5Y1.12010Y1.027+0.093
1.3.2. Quick Ratio

Measures if Ambev is able to pay off Short-term Debt but only using the most liquid assets.

  • Above 1 is considered healthy but always compare Ambev to the Beverages - Brewers industry mean.
  • A Quick Ratio of 0.63 means the company can pay off R$0.63 for each R$1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Ambev S.A.:

  • The MRQ is 0.630. The company is just not able to pay all its short-term debts with the most liquid assets. -1
  • The TTM is 0.648. The company is just not able to pay all its short-term debts with the most liquid assets. -1
Trends
Current periodCompared to+/- 
MRQ0.630TTM0.648-0.017
TTM0.648YOY0.708-0.060
TTM0.6485Y0.796-0.148
5Y0.79610Y0.744+0.052

1.4. Solvency of Ambev S.A..

1.3. Liquidity
1.4.1. Debt to Asset Ratio

Measures how much % of Ambev assets are financed with debt.

  • Below 1 (100%) is considered healthy but always compare Ambev to Beverages - Brewers industry mean.
  • A Debt to Asset Ratio of 0.41 means that Ambev assets are financed with 40.7% credit (debt) and the remaining percentage (100% - 40.7%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of Ambev S.A.:

  • The MRQ is 0.407. The company is very able to pay all its debts by selling its assets. +2
  • The TTM is 0.364. The company is very able to pay all its debts by selling its assets. +2
Trends
Current periodCompared to+/- 
MRQ0.407TTM0.364+0.043
TTM0.364YOY0.370-0.006
TTM0.3645Y0.370-0.006
5Y0.37010Y0.383-0.013
1.4.2. Debt to Equity Ratio

Measures if Ambev is able to pay off its debts by using shareholders equity.

  • Below 2 is considered healthy but always compare Ambev to the Beverages - Brewers industry mean.
  • A Debt to Equity ratio of 69.6% means that company has R$0.70 debt for each R$1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Ambev S.A.:

  • The MRQ is 0.696. The company is very able to pay all its debts with equity. +2
  • The TTM is 0.585. The company is very able to pay all its debts with equity. +2
Trends
Current periodCompared to+/- 
MRQ0.696TTM0.585+0.112
TTM0.585YOY0.598-0.014
TTM0.5855Y0.599-0.014
5Y0.59910Y0.640-0.041

2. Market Valuation of Ambev S.A.

2.1. Earnings Per Share
2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every R$1 in earnings Ambev generates.

  • Above 15 is considered overpriced but always compare Ambev to the Beverages - Brewers industry mean.
  • A PE ratio of 12.38 means the investor is paying R$12.38 for every R$1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Ambev S.A.:

  • The EOD is 11.228. Based on the earnings, the company is underpriced. +1
  • The MRQ is 12.382. Based on the earnings, the company is underpriced. +1
  • The TTM is 16.312. Based on the earnings, the company is fair priced.
Trends
Current periodCompared to+/- 
EOD11.228MRQ12.382-1.154
MRQ12.382TTM16.312-3.930
TTM16.312YOY16.790-0.479
TTM16.3125Y21.735-5.423
5Y21.73510Y9,310.636-9,288.902
2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Ambev S.A.:

  • The EOD is 4.219. Based on how much money comes from the company's main activities, the company is cheap. +2
  • The MRQ is 4.653. Based on how much money comes from the company's main activities, the company is cheap. +2
  • The TTM is 2.069. Based on how much money comes from the company's main activities, the company is cheap. +2
Trends
Current periodCompared to+/- 
EOD4.219MRQ4.653-0.434
MRQ4.653TTM2.069+2.583
TTM2.069YOY-6.713+8.782
TTM2.0695Y40.692-38.622
5Y40.69210Y41.137-0.446
2. Book Value per Share
2.3. Price to Book Ratio

Measures if the stock price of Ambev is to cheap or to expensive compared to its book value.

  • At or below 1 is considered healthy (always compare to Beverages - Brewers industry mean).
  • A PB ratio of 2.71 means the investor is paying R$2.71 for each R$1 in book value.

Let's take a look of the Price to Book Ratio trends of Ambev S.A.:

  • The EOD is 2.459. Based on the equity, the company is underpriced. +1
  • The MRQ is 2.712. Based on the equity, the company is underpriced. +1
  • The TTM is 2.604. Based on the equity, the company is underpriced. +1
Trends
Current periodCompared to+/- 
EOD2.459MRQ2.712-0.253
MRQ2.712TTM2.604+0.107
TTM2.604YOY2.730-0.126
TTM2.6045Y3.146-0.541
5Y3.14610Y4.605-1.460
2. Total Gains per Share

3. Summary

3.1. Key Performance Indicators

The key performance indicators of Ambev S.A. compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-5 Year+/-10 Year+/-
Book Value Change Per Share---0.712-0.049-93%0.012-6217%0.072-1093%0.057-1349%
Book Value Per Share--5.0645.445-7%5.404-6%4.976+2%4.018+26%
Current Ratio--0.8921.000-11%1.072-17%1.120-20%1.027-13%
Debt To Asset Ratio--0.4070.364+12%0.370+10%0.370+10%0.383+6%
Debt To Equity Ratio--0.6960.585+19%0.598+16%0.599+16%0.640+9%
Dividend Per Share--0.7350.188+290%0.193+280%0.158+366%0.160+359%
Eps--0.2770.229+21%0.228+22%0.204+36%0.190+46%
Free Cash Flow Per Share--0.7380.296+150%0.223+231%0.238+210%0.225+228%
Free Cash Flow To Equity Per Share---0.0200.041-149%-0.035+77%0.019-202%0.016-225%
Gross Profit Margin--0.009-0.433+4939%-0.325+3735%-0.440+5019%-333.283+3724989%
Intrinsic Value_10Y_max--25.359--------
Intrinsic Value_10Y_min--13.633--------
Intrinsic Value_1Y_max--1.233--------
Intrinsic Value_1Y_min--0.985--------
Intrinsic Value_3Y_max--4.702--------
Intrinsic Value_3Y_min--3.307--------
Intrinsic Value_5Y_max--9.373--------
Intrinsic Value_5Y_min--5.992--------
Market Cap196080024422.400-11%217312889867.180223716717490.875-3%233257649788.420-7%241978177880.522-10%266954449305.305-19%
Net Profit Margin--0.2190.171+29%0.182+21%0.185+19%0.214+2%
Operating Margin--0.2560.225+14%0.222+15%0.228+12%0.279-8%
Operating Ratio--0.7440.780-5%0.781-5%0.752-1%0.697+7%
Pb Ratio2.459-10%2.7122.604+4%2.730-1%3.146-14%4.605-41%
Pe Ratio11.228-10%12.38216.312-24%16.790-26%21.735-43%9310.636-100%
Price Per Share12.450-10%13.73014.145-3%14.715-7%15.271-10%16.852-19%
Price To Free Cash Flow Ratio4.219-10%4.6532.069+125%-6.713+244%40.692-89%41.137-89%
Price To Total Gains Ratio547.853-10%604.178287.200+110%11.824+5010%92.658+552%511.797+18%
Quick Ratio--0.6300.648-3%0.708-11%0.796-21%0.744-15%
Return On Assets--0.0320.025+28%0.027+21%0.026+26%0.030+7%
Return On Equity--0.0560.041+36%0.044+28%0.042+33%0.051+9%
Total Gains Per Share--0.0230.140-84%0.205-89%0.229-90%0.217-90%
Usd Book Value--16108904202.00017311522075.500-7%17218802584.500-6%15849595890.900+2%12794066286.075+26%
Usd Book Value Change Per Share---0.143-0.010-93%0.002-6217%0.014-1093%0.011-1349%
Usd Book Value Per Share--1.0181.094-7%1.086-6%1.000+2%0.808+26%
Usd Dividend Per Share--0.1480.038+290%0.039+280%0.032+366%0.032+359%
Usd Eps--0.0560.046+21%0.046+22%0.041+36%0.038+46%
Usd Free Cash Flow--2346934893.000940041473.250+150%708981219.750+231%758598200.400+209%715593265.500+228%
Usd Free Cash Flow Per Share--0.1480.059+150%0.045+231%0.048+210%0.045+228%
Usd Free Cash Flow To Equity Per Share---0.0040.008-149%-0.007+77%0.004-202%0.003-225%
Usd Market Cap39412084908.902-11%43679890863.30344967060215.666-3%46884787607.472-7%48637613753.985-10%53657844310.366-19%
Usd Price Per Share2.502-10%2.7602.843-3%2.958-7%3.069-10%3.387-19%
Usd Profit--881909811.000688363946.250+28%732345409.500+20%645641315.850+37%601168879.950+47%
Usd Revenue--4017836034.0004020333358.5000%4005366647.250+0%3452661671.250+16%2874710190.750+40%
Usd Total Gains Per Share--0.0050.028-84%0.041-89%0.046-90%0.044-90%
 EOD+4 -4MRQTTM+17 -19YOY+21 -155Y+23 -1310Y+21 -15

3.2. Fundamental Score

Let's check the fundamental score of Ambev S.A. based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-1511.228
Price to Book Ratio (EOD)Between0-12.459
Net Profit Margin (MRQ)Greater than00.219
Operating Margin (MRQ)Greater than00.256
Quick Ratio (MRQ)Greater than10.630
Current Ratio (MRQ)Greater than10.892
Debt to Asset Ratio (MRQ)Less than10.407
Debt to Equity Ratio (MRQ)Less than10.696
Return on Equity (MRQ)Greater than0.150.056
Return on Assets (MRQ)Greater than0.050.032
Total5/10 (50.0%)

3.3. Technical Score

Let's check the technical score of Ambev S.A. based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5042.034
Ma 20Greater thanMa 5012.595
Ma 50Greater thanMa 10012.890
Ma 100Greater thanMa 20013.099
OpenGreater thanClose12.360
Total0/5 (0.0%)



Reversals in quarterly reports

I have detected a reversal (positive to negative, negative to positive) in the following values of the quarterly reports.

 2022-12-312023-03-312023-06-302023-09-302023-12-31
Net Interest Income  -370,900-16,600-387,500-8,100-395,600-132,500-528,1001,476,750948,650



Latest Balance Sheet

Balance Sheet of 2023-12-31. Currency in BRL. All numbers in thousands.

Summary
Total Assets135,138,741
Total Liabilities54,994,939
Total Stockholder Equity78,969,290
 As reported
Total Liabilities 54,994,939
Total Stockholder Equity+ 78,969,290
Total Assets = 135,138,741

Assets

Total Assets135,138,741
Total Current Assets36,563,050
Long-term Assets98,575,691
Total Current Assets
Cash And Cash Equivalents 16,059,003
Short-term Investments 277,164
Net Receivables 9,231,332
Inventory 9,619,022
Other Current Assets 1,376,529
Total Current Assets  (as reported)36,563,050
Total Current Assets  (calculated)36,563,050
+/-0
Long-term Assets
Property Plant Equipment 26,630,156
Goodwill 38,003,640
Long Term Investments 531,300
Intangible Assets 10,041,700
Long-term Assets Other 11,887,551
Long-term Assets  (as reported)98,575,691
Long-term Assets  (calculated)87,094,347
+/- 11,481,344

Liabilities & Shareholders' Equity

Total Current Liabilities41,004,897
Long-term Liabilities13,990,042
Total Stockholder Equity78,969,290
Total Current Liabilities
Short-term Debt 1,298,091
Short Long Term Debt 151,200
Accounts payable 21,278,615
Other Current Liabilities 15,561,548
Total Current Liabilities  (as reported)41,004,897
Total Current Liabilities  (calculated)38,289,454
+/- 2,715,443
Long-term Liabilities
Long term Debt 391,000
Capital Lease Obligations 2,958,900
Long-term Liabilities  (as reported)13,990,042
Long-term Liabilities  (calculated)3,349,900
+/- 10,640,142
Total Stockholder Equity
Common Stock58,177,929
Retained Earnings 17,399,286
Accumulated Other Comprehensive Income 4,404,024
Other Stockholders Equity -1,011,949
Total Stockholder Equity (as reported)78,969,290
Total Stockholder Equity (calculated)78,969,290
+/-0
Other
Capital Stock58,177,900
Cash and Short Term Investments 16,336,167
Common Stock Shares Outstanding 15,827,596
Current Deferred Revenue2,866,643
Liabilities and Stockholders Equity 135,138,741
Net Debt -12,557,937
Net Invested Capital 79,511,500
Net Working Capital -4,442,000
Property Plant and Equipment Gross 69,877,700
Short Long Term Debt Total 3,501,066



Balance Sheet

Currency in BRL. All numbers in thousands.

 Trend2023-12-312023-09-302023-06-302023-03-312022-12-312022-09-302022-06-302022-03-312021-12-312021-09-302021-06-302021-03-312020-12-312020-09-302020-06-302020-03-312019-12-312019-09-302019-06-302019-03-312018-12-312018-09-302018-06-302018-03-312017-12-312017-09-302017-06-302017-03-312016-12-312016-09-302016-06-302016-03-312015-12-312015-09-302015-06-302015-03-312014-12-312014-09-302014-06-302014-03-312013-12-312013-09-302013-06-302013-03-312012-12-312012-09-302012-06-302012-03-312011-12-312011-09-302011-06-302011-03-312010-12-312010-09-302010-06-302010-03-312009-12-312009-09-302009-06-302009-03-312008-12-312008-09-302008-06-302008-03-312007-12-312007-09-302007-06-302007-03-312006-12-312006-09-302006-06-302006-03-312005-12-312005-09-302005-06-302005-03-312004-12-312004-09-302004-06-302004-03-312003-12-312003-09-302003-06-302003-03-312002-12-312002-09-302002-06-302002-03-312001-12-312001-09-302001-06-302001-03-312000-12-312000-09-302000-06-302000-03-311999-12-311999-09-301999-06-301999-03-311998-12-311998-09-301998-06-301998-03-311997-12-311997-09-301997-06-30
> Total Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
8,933,278
0
11,028,812
0
11,411,848
0
12,381,391
12,793,468
11,765,448
14,138,352
14,830,100
14,162,573
14,068,563
31,828,727
33,016,500
31,271,579
30,208,776
33,141,870
33,471,890
32,554,501
32,460,481
35,475,117
35,558,964
34,451,305
34,693,585
34,683,194
35,475,800
34,209,291
33,278,572
34,323,308
41,813,000
41,670,600
40,094,900
39,253,762
40,101,000
40,174,500
41,063,436
42,934,285
42,678,300
41,698,184
41,842,844
45,166,496
46,139,400
45,822,291
48,521,976
49,391,546
54,159,900
48,728,570
50,982,700
59,618,974
68,674,100
63,297,000
62,989,100
65,125,900
72,143,300
75,101,200
74,436,200
88,043,173
90,176,300
80,248,015
76,656,712
79,110,196
83,841,400
80,733,942
84,124,011
83,020,423
86,851,900
82,378,945
90,921,356
95,691,043
94,126,100
96,905,532
98,738,979
102,475,317
101,742,900
113,687,561
121,393,008
127,056,787
125,196,300
133,417,831
124,440,135
135,133,300
137,227,900
127,399,920
136,633,408
142,063,954
137,958,100
135,466,700
133,294,400
137,914,200
135,138,741
135,138,741137,914,200133,294,400135,466,700137,958,100142,063,954136,633,408127,399,920137,227,900135,133,300124,440,135133,417,831125,196,300127,056,787121,393,008113,687,561101,742,900102,475,31798,738,97996,905,53294,126,10095,691,04390,921,35682,378,94586,851,90083,020,42384,124,01180,733,94283,841,40079,110,19676,656,71280,248,01590,176,30088,043,17374,436,20075,101,20072,143,30065,125,90062,989,10063,297,00068,674,10059,618,97450,982,70048,728,57054,159,90049,391,54648,521,97645,822,29146,139,40045,166,49641,842,84441,698,18442,678,30042,934,28541,063,43640,174,50040,101,00039,253,76240,094,90041,670,60041,813,00034,323,30833,278,57234,209,29135,475,80034,683,19434,693,58534,451,30535,558,96435,475,11732,460,48132,554,50133,471,89033,141,87030,208,77631,271,57933,016,50031,828,72714,068,56314,162,57314,830,10014,138,35211,765,44812,793,46812,381,391011,411,848011,028,81208,933,2780000000000000000
   > Total Current Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,593,595
4,244,489
3,526,906
5,424,255
5,500,500
4,715,168
4,478,415
4,038,344
5,379,600
4,308,799
4,113,022
4,314,547
4,928,221
4,612,506
5,046,281
5,612,009
6,800,926
6,136,693
5,886,461
6,600,548
7,880,400
6,872,698
6,592,205
7,234,544
9,293,300
9,842,300
9,488,400
9,323,446
10,303,100
10,765,000
11,403,125
13,414,004
12,910,900
11,756,762
11,544,280
13,562,019
14,679,500
14,287,643
11,701,949
12,131,425
16,256,000
10,886,309
12,014,300
12,478,374
20,470,000
16,352,300
15,773,300
15,446,600
20,728,500
19,241,000
18,360,300
23,835,353
28,314,500
19,074,487
18,561,517
19,990,967
23,886,800
21,297,374
23,042,848
22,230,596
24,718,000
21,560,552
26,409,115
26,200,019
25,329,600
26,194,138
27,356,037
29,004,026
27,621,100
31,086,356
36,268,130
39,098,796
35,342,300
37,059,861
32,705,666
38,197,100
38,627,100
34,479,797
38,238,562
41,556,965
37,816,700
35,378,700
34,324,100
37,552,700
36,563,050
36,563,05037,552,70034,324,10035,378,70037,816,70041,556,96538,238,56234,479,79738,627,10038,197,10032,705,66637,059,86135,342,30039,098,79636,268,13031,086,35627,621,10029,004,02627,356,03726,194,13825,329,60026,200,01926,409,11521,560,55224,718,00022,230,59623,042,84821,297,37423,886,80019,990,96718,561,51719,074,48728,314,50023,835,35318,360,30019,241,00020,728,50015,446,60015,773,30016,352,30020,470,00012,478,37412,014,30010,886,30916,256,00012,131,42511,701,94914,287,64314,679,50013,562,01911,544,28011,756,76212,910,90013,414,00411,403,12510,765,00010,303,1009,323,4469,488,4009,842,3009,293,3007,234,5446,592,2056,872,6987,880,4006,600,5485,886,4616,136,6936,800,9265,612,0095,046,2814,612,5064,928,2214,314,5474,113,0224,308,7995,379,6004,038,3444,478,4154,715,1685,500,5005,424,2553,526,9064,244,4895,593,5950000000000000000000000
       Cash And Cash Equivalents 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,769,499
1,612,958
1,278,833
1,999,458
1,196,100
1,343,792
1,024,945
711,372
1,290,900
832,233
890,386
857,824
836,776
900,773
1,107,585
1,235,891
1,535,180
1,686,668
1,379,894
2,024,256
2,308,200
1,892,183
1,859,961
2,059,704
3,298,900
4,265,500
4,278,400
3,890,502
4,042,900
5,573,900
5,950,626
7,887,098
5,909,300
4,641,560
5,251,291
5,958,912
8,076,200
6,711,508
4,891,112
4,531,189
8,926,200
3,665,299
4,435,800
4,835,170
11,285,800
7,296,200
6,273,900
5,748,100
9,722,100
6,974,600
6,899,800
9,680,857
13,620,200
6,007,322
5,729,655
7,285,217
7,876,800
7,230,261
8,757,342
8,340,688
10,354,500
7,953,477
10,619,955
12,227,669
11,463,500
12,822,525
14,233,403
15,016,914
11,900,700
13,204,472
17,438,952
21,660,450
17,090,300
17,286,068
13,269,346
17,956,200
16,627,700
12,887,922
14,129,259
17,712,654
14,926,400
12,214,100
12,117,000
17,413,900
16,059,003
16,059,00317,413,90012,117,00012,214,10014,926,40017,712,65414,129,25912,887,92216,627,70017,956,20013,269,34617,286,06817,090,30021,660,45017,438,95213,204,47211,900,70015,016,91414,233,40312,822,52511,463,50012,227,66910,619,9557,953,47710,354,5008,340,6888,757,3427,230,2617,876,8007,285,2175,729,6556,007,32213,620,2009,680,8576,899,8006,974,6009,722,1005,748,1006,273,9007,296,20011,285,8004,835,1704,435,8003,665,2998,926,2004,531,1894,891,1126,711,5088,076,2005,958,9125,251,2914,641,5605,909,3007,887,0985,950,6265,573,9004,042,9003,890,5024,278,4004,265,5003,298,9002,059,7041,859,9611,892,1832,308,2002,024,2561,379,8941,686,6681,535,1801,235,8911,107,585900,773836,776857,824890,386832,2331,290,900711,3721,024,9451,343,7921,196,1001,999,4581,278,8331,612,9582,769,4990000000000000000000000
       Short-term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
735,401
463,142
300,156
1,181,480
1,493,900
1,266,485
1,377,960
623,619
214,500
257,944
211,485
200,896
258,838
460,487
482,584
355,465
225,555
172,827
109,994
0
174,800
140,013
37,140
102
100
3,000
2,600
235,223
73,300
74,900
21,521
1,937
1,069,300
1,063,068
516,379
660,616
193,400
1,464,198
244,033
617,880
476,600
359,591
486,100
612,489
288,600
410,200
379,900
526,800
713,000
1,033,700
776,600
718,737
215,100
209,067
263,893
274,577
282,800
9,903
8,770
7,820
11,900
12,229
12,618
13,008
13,400
13,772
14,038
14,304
14,600
44,823
44,823
1,442,923
1,700,000
2,049,628
1,245,607
2,044,600
1,914,600
1,345,730
1,535,714
1,347,216
454,500
365,300
313,500
227,200
277,164
277,164227,200313,500365,300454,5001,347,2161,535,7141,345,7301,914,6002,044,6001,245,6072,049,6281,700,0001,442,92344,82344,82314,60014,30414,03813,77213,40013,00812,61812,22911,9007,8208,7709,903282,800274,577263,893209,067215,100718,737776,6001,033,700713,000526,800379,900410,200288,600612,489486,100359,591476,600617,880244,0331,464,198193,400660,616516,3791,063,0681,069,3001,93721,52174,90073,300235,2232,6003,00010010237,140140,013174,8000109,994172,827225,555355,465482,584460,487258,838200,896211,485257,944214,500623,6191,377,9601,266,4851,493,9001,181,480300,156463,142735,4010000000000000000000000
       Net Receivables 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,061,620
0
1,288,656
0
777,020
0
768,102
398,651
316,221
405,296
1,497,100
439,478
419,025
847,371
2,153,500
986,939
916,155
1,121,462
1,670,057
735,966
1,633,361
1,735,149
2,577,357
1,591,451
1,662,843
1,845,491
2,362,400
1,473,967
1,575,401
1,191,070
3,908,400
3,538,300
3,533,100
3,662,904
4,638,700
3,499,900
3,671,610
3,796,086
3,975,300
3,764,555
3,721,342
4,955,382
4,171,000
3,746,835
3,990,085
4,490,669
3,331,600
3,986,281
4,366,200
4,444,175
4,703,100
5,583,600
5,999,000
6,012,700
4,610,800
4,292,000
4,286,900
4,837,496
7,360,600
6,325,453
6,678,408
6,976,543
9,791,400
8,235,934
8,101,335
8,200,557
8,315,400
7,212,163
8,515,756
6,500,660
7,028,000
5,960,702
5,645,674
6,782,121
8,569,600
8,660,706
9,591,923
7,629,804
7,590,200
6,363,867
6,567,271
6,538,500
7,404,200
6,973,827
8,005,730
8,094,533
8,202,600
8,096,400
8,271,800
7,664,800
9,231,332
9,231,3327,664,8008,271,8008,096,4008,202,6008,094,5338,005,7306,973,8277,404,2006,538,5006,567,2716,363,8677,590,2007,629,8049,591,9238,660,7068,569,6006,782,1215,645,6745,960,7027,028,0006,500,6608,515,7567,212,1638,315,4008,200,5578,101,3358,235,9349,791,4006,976,5436,678,4086,325,4537,360,6004,837,4964,286,9004,292,0004,610,8006,012,7005,999,0005,583,6004,703,1004,444,1754,366,2003,986,2813,331,6004,490,6693,990,0853,746,8354,171,0004,955,3823,721,3423,764,5553,975,3003,796,0863,671,6103,499,9004,638,7003,662,9043,533,1003,538,3003,908,4001,191,0701,575,4011,473,9672,362,4001,845,4911,662,8431,591,4512,577,3571,735,1491,633,361735,9661,670,0571,121,462916,155986,9392,153,500847,371419,025439,4781,497,100405,296316,221398,651768,1020777,02001,288,65601,061,6200000000000000000
       Other Current Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
250,445
0
50,577
0
301,849
0
460,895
810,378
817,250
1,049,346
358,800
701,902
756,723
793,894
339,800
982,307
925,001
998,495
985,184
1,345,223
674,543
1,102,232
1,102,232
1,332,205
1,384,629
1,486,977
1,577,200
1,770,270
1,554,481
2,325,512
67,800
66,600
62,400
62,399
60,100
60,000
60,182
60,182
51,800
50,481
3,141
400
400
0
4,216
4,516
1,143,600
128,302
-100
130,746
1,519,000
1,260,957
1,726,956
978,981
2,418,600
2,562,800
2,318,300
4,389,300
3,019,800
1,801,429
1,566,338
1,388,052
1,823,200
1,501,144
1,729,544
1,497,077
1,928,100
1,862,696
2,548,428
2,386,354
1,727,300
1,624,257
1,513,668
1,463,422
1,485,900
1,683,228
1,760,833
1,384,409
1,737,300
2,100,928
2,296,039
2,146,600
1,680,300
1,221,750
1,223,404
1,290,491
1,037,900
1,320,000
1,290,600
1,037,700
1,376,529
1,376,5291,037,7001,290,6001,320,0001,037,9001,290,4911,223,4041,221,7501,680,3002,146,6002,296,0392,100,9281,737,3001,384,4091,760,8331,683,2281,485,9001,463,4221,513,6681,624,2571,727,3002,386,3542,548,4281,862,6961,928,1001,497,0771,729,5441,501,1441,823,2001,388,0521,566,3381,801,4293,019,8004,389,3002,318,3002,562,8002,418,600978,9811,726,9561,260,9571,519,000130,746-100128,3021,143,6004,5164,21604004003,14150,48151,80060,18260,18260,00060,10062,39962,40066,60067,8002,325,5121,554,4811,770,2701,577,2001,486,9771,384,6291,332,2051,102,2321,102,232674,5431,345,223985,184998,495925,001982,307339,800793,894756,723701,902358,8001,049,346817,250810,378460,8950301,849050,5770250,4450000000000000000
   > Long-term Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
6,787,796
8,548,978
8,238,542
8,714,097
9,329,600
9,447,405
9,590,148
27,790,382
27,636,900
26,962,780
26,095,755
28,827,323
28,543,670
27,941,994
27,414,201
29,863,109
28,758,038
28,314,611
28,807,124
28,082,645
27,595,400
27,336,593
26,686,367
27,088,764
32,519,700
31,828,300
30,606,500
29,930,316
29,797,900
29,409,500
29,660,311
29,520,281
29,767,400
29,941,422
30,298,564
31,604,477
31,459,900
31,534,648
36,820,027
37,260,121
37,903,900
37,842,261
38,968,400
47,140,600
48,204,100
46,944,700
47,215,800
49,679,300
51,414,800
55,860,200
56,075,900
64,207,820
61,861,800
61,173,528
58,095,195
59,119,229
59,954,600
59,436,568
61,081,163
60,789,827
62,133,900
60,818,393
64,512,241
69,491,024
68,796,500
70,711,394
71,382,942
73,471,291
74,121,800
82,601,205
85,124,878
87,957,991
89,854,000
96,357,970
91,734,469
96,936,200
99,975,300
92,920,123
98,394,846
100,506,989
100,141,400
100,088,000
98,970,300
100,361,500
98,575,691
98,575,691100,361,50098,970,300100,088,000100,141,400100,506,98998,394,84692,920,12399,975,30096,936,20091,734,46996,357,97089,854,00087,957,99185,124,87882,601,20574,121,80073,471,29171,382,94270,711,39468,796,50069,491,02464,512,24160,818,39362,133,90060,789,82761,081,16359,436,56859,954,60059,119,22958,095,19561,173,52861,861,80064,207,82056,075,90055,860,20051,414,80049,679,30047,215,80046,944,70048,204,10047,140,60038,968,40037,842,26137,903,90037,260,12136,820,02731,534,64831,459,90031,604,47730,298,56429,941,42229,767,40029,520,28129,660,31129,409,50029,797,90029,930,31630,606,50031,828,30032,519,70027,088,76426,686,36727,336,59327,595,40028,082,64528,807,12428,314,61128,758,03829,863,10927,414,20127,941,99428,543,67028,827,32326,095,75526,962,78027,636,90027,790,3829,590,1489,447,4059,329,6008,714,0978,238,5428,548,9786,787,7960000000000000000000000
       Property Plant Equipment 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,235,973
0
3,143,635
0
2,946,347
0
3,289,098
3,716,870
3,535,719
3,789,041
4,166,300
4,169,658
4,258,036
5,482,789
5,531,700
5,403,384
5,183,974
5,217,585
5,401,226
5,116,749
5,118,517
5,735,564
5,710,067
5,499,128
5,720,810
5,830,390
5,981,500
5,495,237
5,478,530
6,219,430
7,304,600
6,976,500
6,489,000
6,270,990
6,595,100
6,434,000
6,604,150
6,890,079
7,032,300
7,275,436
7,943,196
8,887,404
9,265,200
9,223,878
10,409,245
10,965,688
11,412,300
11,321,346
11,718,000
13,086,251
13,937,800
13,592,400
13,913,500
14,814,100
15,740,100
16,542,000
16,820,000
18,624,461
19,140,100
18,693,417
18,259,924
18,341,681
19,153,800
18,658,350
18,638,073
18,480,755
18,822,300
18,276,310
18,762,061
19,673,034
20,097,000
21,431,950
21,416,968
21,597,197
22,576,300
25,063,436
25,111,748
25,435,683
24,768,400
26,676,905
25,701,978
27,231,900
29,224,300
27,494,375
29,386,901
29,926,913
30,055,700
29,790,600
29,284,800
28,925,200
26,630,156
26,630,15628,925,20029,284,80029,790,60030,055,70029,926,91329,386,90127,494,37529,224,30027,231,90025,701,97826,676,90524,768,40025,435,68325,111,74825,063,43622,576,30021,597,19721,416,96821,431,95020,097,00019,673,03418,762,06118,276,31018,822,30018,480,75518,638,07318,658,35019,153,80018,341,68118,259,92418,693,41719,140,10018,624,46116,820,00016,542,00015,740,10014,814,10013,913,50013,592,40013,937,80013,086,25111,718,00011,321,34611,412,30010,965,68810,409,2459,223,8789,265,2008,887,4047,943,1967,275,4367,032,3006,890,0796,604,1506,434,0006,595,1006,270,9906,489,0006,976,5007,304,6006,219,4305,478,5305,495,2375,981,5005,830,3905,720,8105,499,1285,710,0675,735,5645,118,5175,116,7495,401,2265,217,5855,183,9745,403,3845,531,7005,482,7894,258,0364,169,6584,166,3003,789,0413,535,7193,716,8703,289,09802,946,34703,143,63503,235,9730000000000000000
       Goodwill 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,687,300
0
0
0
18,170,400
0
0
0
16,716,658
16,552,428
16,217,042
18,477,086
17,942,736
17,536,119
15,946,983
15,339,175
14,983,000
15,056,830
14,607,445
14,297,823
17,912,400
17,804,100
17,525,400
17,492,266
17,527,500
17,558,400
17,548,650
17,445,436
17,441,800
17,433,172
17,374,284
17,441,823
17,454,000
17,477,211
19,716,998
19,652,165
19,971,500
19,678,710
19,966,200
26,817,669
27,021,100
26,354,800
26,222,000
26,934,400
27,502,900
28,974,300
28,794,800
31,297,395
30,953,100
31,023,232
29,644,103
29,653,755
30,511,200
30,276,565
31,096,331
30,933,560
31,401,900
31,191,746
32,899,140
34,778,222
34,276,200
34,398,074
34,511,789
35,292,080
35,009,900
39,350,824
40,435,425
41,312,271
40,023,500
42,606,266
39,883,831
41,680,300
42,411,300
39,193,442
41,328,199
41,631,997
40,594,000
40,184,400
39,319,800
39,769,400
38,003,640
38,003,64039,769,40039,319,80040,184,40040,594,00041,631,99741,328,19939,193,44242,411,30041,680,30039,883,83142,606,26640,023,50041,312,27140,435,42539,350,82435,009,90035,292,08034,511,78934,398,07434,276,20034,778,22232,899,14031,191,74631,401,90030,933,56031,096,33130,276,56530,511,20029,653,75529,644,10331,023,23230,953,10031,297,39528,794,80028,974,30027,502,90026,934,40026,222,00026,354,80027,021,10026,817,66919,966,20019,678,71019,971,50019,652,16519,716,99817,477,21117,454,00017,441,82317,374,28417,433,17217,441,80017,445,43617,548,65017,558,40017,527,50017,492,26617,525,40017,804,10017,912,40014,297,82314,607,44515,056,83014,983,00015,339,17515,946,98317,536,11917,942,73618,477,08616,217,04216,552,42816,716,65800018,170,4000001,687,30000000000000000000000000000
       Long Term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
404,400
406,900
401,110
358,292
360,000
387,294
408,289
428,400
404,476
418,922
410,590
469,579
467,000
540,458
535,995
528,871
551,300
559,300
506,600
476,700
498,100
483,200
538,800
551,300
551,000
588,800
576,200
553,200
531,300
531,300553,200576,200588,800551,000551,300538,800483,200498,100476,700506,600559,300551,300528,871535,995540,458467,000469,579410,590418,922404,476428,400408,289387,294360,000358,292401,110406,900404,400000000000000000000000000000000000000000000000000000000000000000000000000000000
       Intangible Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
626,899
0
0
0
0
0
1,770,744
0
0
17,711,285
16,981,619
0
486,889
0
0
0
0
17,565,795
15,946,983
15,387,993
15,371,238
415,423
433,845
441,460
2,492,900
2,353,400
2,085,100
1,922,023
1,932,600
1,920,300
1,915,955
1,833,822
1,823,200
1,807,216
1,732,448
1,791,373
1,763,000
1,734,097
2,636,089
2,611,392
2,935,400
2,900,501
3,139,800
3,112,286
3,213,600
3,188,700
3,237,900
3,500,600
3,754,900
4,337,900
4,129,400
5,057,876
5,092,200
5,061,496
4,800,948
4,740,515
5,245,900
5,098,985
5,239,605
4,591,168
4,674,700
4,606,773
4,956,525
5,752,561
5,840,600
5,845,036
5,881,138
6,328,636
6,306,400
7,842,459
7,912,013
8,062,660
7,580,600
8,363,842
7,603,171
8,205,100
8,689,000
7,732,029
8,552,850
9,176,199
9,222,200
9,250,400
9,141,400
9,464,800
10,041,700
10,041,7009,464,8009,141,4009,250,4009,222,2009,176,1998,552,8507,732,0298,689,0008,205,1007,603,1718,363,8427,580,6008,062,6607,912,0137,842,4596,306,4006,328,6365,881,1385,845,0365,840,6005,752,5614,956,5254,606,7734,674,7004,591,1685,239,6055,098,9855,245,9004,740,5154,800,9485,061,4965,092,2005,057,8764,129,4004,337,9003,754,9003,500,6003,237,9003,188,7003,213,6003,112,2863,139,8002,900,5012,935,4002,611,3922,636,0891,734,0971,763,0001,791,3731,732,4481,807,2161,823,2001,833,8221,915,9551,920,3001,932,6001,922,0232,085,1002,353,4002,492,900441,460433,845415,42315,371,23815,387,99315,946,98317,565,7950000486,889016,981,61917,711,285001,770,74400000626,8990000000000000000000000
       Other Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,975,143
0
3,200,233
0
3,352,439
0
3,498,698
0
4,776,690
0
5,163,341
5,292,313
5,354,413
22,269,414
22,105,208
21,539,274
21,068,960
23,548,565
23,643,763
22,637,410
22,167,498
23,967,524
23,103,682
22,854,093
23,086,797
22,323,075
22,002,022
21,879,954
21,223,903
20,601,782
25,215,100
24,851,757
24,117,463
23,659,326
23,202,800
22,975,479
23,056,161
22,630,202
22,735,055
22,665,986
22,355,368
22,717,073
22,194,768
22,310,770
26,410,782
26,294,433
26,491,567
26,520,915
27,250,429
27,139,363
34,266,247
33,352,381
33,302,314
34,865,232
35,674,724
39,318,126
39,255,885
45,583,359
42,721,658
42,480,111
39,835,271
40,777,548
40,800,731
40,778,218
42,443,090
42,309,072
43,311,589
42,542,083
7,486,226
8,858,800
8,178,287
8,617,412
9,162,457
6,062,348
9,762,242
6,749,694
8,049,212
9,534,770
12,435,261
13,789,230
18,038,829
19,342,108
-1,374,500
18,017,029
18,588,000
19,220,600
7,849,150
8,625,526
9,284,158
10,393,017
0
010,393,0179,284,1588,625,5267,849,15019,220,60018,588,00018,017,029-1,374,50019,342,10818,038,82913,789,23012,435,2619,534,7708,049,2126,749,6949,762,2426,062,3489,162,4578,617,4128,178,2878,858,8007,486,22642,542,08343,311,58942,309,07242,443,09040,778,21840,800,73140,777,54839,835,27142,480,11142,721,65845,583,35939,255,88539,318,12635,674,72434,865,23233,302,31433,352,38134,266,24727,139,36327,250,42926,520,91526,491,56726,294,43326,410,78222,310,77022,194,76822,717,07322,355,36822,665,98622,735,05522,630,20223,056,16122,975,47923,202,80023,659,32624,117,46324,851,75725,215,10020,601,78221,223,90321,879,95422,002,02222,323,07523,086,79722,854,09323,103,68223,967,52422,167,49822,637,41023,643,76323,548,56521,068,96021,539,27422,105,20822,269,4145,354,4135,292,3135,163,34104,776,69003,498,69803,352,43903,200,23302,975,1430000000000000000
> Total Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,308,669
0
7,576,449
0
7,726,420
0
8,172,595
8,078,883
7,361,947
9,982,364
10,325,500
9,586,010
9,880,473
13,889,037
15,822,300
14,138,804
12,962,327
13,154,648
13,494,470
12,878,995
12,629,161
15,756,078
16,115,264
15,547,445
16,709,795
17,412,609
17,868,600
16,816,570
16,602,693
18,094,970
20,801,400
19,592,800
18,339,200
17,717,569
17,804,900
17,283,000
16,901,938
18,589,063
18,113,400
17,363,704
16,819,214
19,969,762
20,310,600
18,277,455
20,688,674
20,672,041
24,236,100
18,981,298
18,879,500
19,933,375
24,676,700
23,191,400
21,040,400
21,501,800
28,498,600
28,988,800
28,510,400
37,740,450
39,842,600
31,227,909
30,594,093
29,946,276
37,190,100
32,053,069
34,391,949
34,080,745
38,869,100
32,610,697
37,481,815
35,668,688
36,578,700
36,414,895
35,810,203
35,453,865
39,186,900
41,578,491
45,860,711
47,482,642
50,045,100
49,787,436
44,338,329
46,968,500
54,584,900
47,203,479
49,046,382
50,512,483
54,630,300
49,029,800
46,928,400
46,353,000
54,994,939
54,994,93946,353,00046,928,40049,029,80054,630,30050,512,48349,046,38247,203,47954,584,90046,968,50044,338,32949,787,43650,045,10047,482,64245,860,71141,578,49139,186,90035,453,86535,810,20336,414,89536,578,70035,668,68837,481,81532,610,69738,869,10034,080,74534,391,94932,053,06937,190,10029,946,27630,594,09331,227,90939,842,60037,740,45028,510,40028,988,80028,498,60021,501,80021,040,40023,191,40024,676,70019,933,37518,879,50018,981,29824,236,10020,672,04120,688,67418,277,45520,310,60019,969,76216,819,21417,363,70418,113,40018,589,06316,901,93817,283,00017,804,90017,717,56918,339,20019,592,80020,801,40018,094,97016,602,69316,816,57017,868,60017,412,60916,709,79515,547,44516,115,26415,756,07812,629,16112,878,99513,494,47013,154,64812,962,32714,138,80415,822,30013,889,0379,880,4739,586,01010,325,5009,982,3647,361,9478,078,8838,172,59507,726,42007,576,44905,308,6690000000000000000
   > Total Current Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,956,126
0
3,412,003
0
3,092,482
0
2,833,598
2,757,701
2,644,362
4,371,444
4,720,000
3,965,607
4,010,919
5,293,622
8,771,700
6,877,291
6,339,120
6,625,875
5,049,145
4,881,934
4,265,651
5,465,323
6,827,860
5,587,291
6,233,019
7,763,329
8,486,100
7,615,605
8,127,303
9,536,756
10,537,100
9,093,100
8,484,700
8,075,268
8,491,700
8,057,500
8,693,334
10,546,115
10,554,900
10,547,803
10,463,749
14,227,728
14,407,900
12,554,096
12,168,818
12,075,631
15,518,800
10,590,372
10,056,300
10,544,780
17,180,600
16,170,400
14,456,700
14,590,600
21,824,800
21,767,900
20,728,300
28,055,750
30,141,900
21,904,014
21,894,846
21,877,422
28,773,600
23,904,354
26,015,981
23,481,745
28,688,500
22,850,307
27,354,843
25,560,000
24,828,300
23,252,886
22,640,990
21,842,335
25,011,000
25,218,123
29,238,994
30,275,317
33,477,800
31,880,721
28,791,526
31,107,300
38,866,400
33,179,146
33,897,653
34,979,736
40,540,500
35,632,400
34,121,800
33,845,800
41,004,897
41,004,89733,845,80034,121,80035,632,40040,540,50034,979,73633,897,65333,179,14638,866,40031,107,30028,791,52631,880,72133,477,80030,275,31729,238,99425,218,12325,011,00021,842,33522,640,99023,252,88624,828,30025,560,00027,354,84322,850,30728,688,50023,481,74526,015,98123,904,35428,773,60021,877,42221,894,84621,904,01430,141,90028,055,75020,728,30021,767,90021,824,80014,590,60014,456,70016,170,40017,180,60010,544,78010,056,30010,590,37215,518,80012,075,63112,168,81812,554,09614,407,90014,227,72810,463,74910,547,80310,554,90010,546,1158,693,3348,057,5008,491,7008,075,2688,484,7009,093,10010,537,1009,536,7568,127,3037,615,6058,486,1007,763,3296,233,0195,587,2916,827,8605,465,3234,265,6514,881,9345,049,1456,625,8756,339,1206,877,2918,771,7005,293,6224,010,9193,965,6074,720,0004,371,4442,644,3622,757,7012,833,59803,092,48203,412,00302,956,1260000000000000000
       Short-term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
607,401
1,038,116
926,554
1,898,767
1,976,100
2,223,021
2,258,018
1,490,250
3,443,100
3,847,534
3,071,461
3,079,877
1,208,645
1,161,777
835,525
1,113,101
2,099,514
1,805,757
2,030,571
2,036,911
2,476,300
3,013,105
3,499,698
4,095,503
3,607,000
3,287,400
1,844,500
968,460
819,700
850,600
1,560,160
1,596,419
2,607,200
3,060,003
1,948,067
3,122,357
2,224,400
1,970,078
1,910,164
706,223
837,900
852,810
897,000
898,781
1,040,600
922,800
1,118,000
1,140,900
1,087,200
1,189,400
1,250,700
1,188,401
1,285,100
1,666,384
1,842,476
2,747,774
3,630,600
3,470,662
3,617,901
1,968,899
1,322,900
3,279,026
3,716,743
3,761,213
1,560,600
2,657,487
2,601,826
1,719,831
653,100
780,090
4,809,444
4,997,045
2,738,800
2,598,909
948,823
1,100,900
847,100
907,324
1,412,942
1,200,301
1,056,900
1,295,100
1,424,300
1,237,100
1,298,091
1,298,0911,237,1001,424,3001,295,1001,056,9001,200,3011,412,942907,324847,1001,100,900948,8232,598,9092,738,8004,997,0454,809,444780,090653,1001,719,8312,601,8262,657,4871,560,6003,761,2133,716,7433,279,0261,322,9001,968,8993,617,9013,470,6623,630,6002,747,7741,842,4761,666,3841,285,1001,188,4011,250,7001,189,4001,087,2001,140,9001,118,000922,8001,040,600898,781897,000852,810837,900706,2231,910,1641,970,0782,224,4003,122,3571,948,0673,060,0032,607,2001,596,4191,560,160850,600819,700968,4601,844,5003,287,4003,607,0004,095,5033,499,6983,013,1052,476,3002,036,9112,030,5711,805,7572,099,5141,113,101835,5251,161,7771,208,6453,079,8773,071,4613,847,5343,443,1001,490,2502,258,0182,223,0211,976,1001,898,767926,5541,038,116607,4010000000000000000000000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,396,300
5,134,046
4,944,697
1,962,019
1,312,300
3,271,114
3,707,740
3,728,730
1,530,587
2,263,437
2,216,170
1,357,796
217,100
301,486
4,367,277
4,567,866
2,738,800
2,598,900
948,900
1,100,900
847,100
907,400
1,413,000
1,200,300
1,056,900
1,295,100
1,424,300
1,237,100
151,200
151,2001,237,1001,424,3001,295,1001,056,9001,200,3001,413,000907,400847,1001,100,900948,9002,598,9002,738,8004,567,8664,367,277301,486217,1001,357,7962,216,1702,263,4371,530,5873,728,7303,707,7403,271,1141,312,3001,962,0194,944,6975,134,0465,396,300000000000000000000000000000000000000000000000000000000000000000000000000000000
       Accounts payable 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
443,835
0
571,169
0
390,905
0
789,100
660,070
418,371
474,880
800,483
517,558
460,814
808,523
352,500
707,612
646,570
806,074
1,064,734
869,626
769,327
1,018,264
1,384,048
1,065,905
1,187,551
1,550,496
2,137,600
1,520,117
1,640,481
1,819,525
3,347,000
5,096,600
5,580,900
6,080,490
3,570,300
6,429,200
6,213,369
8,120,915
4,655,000
6,607,347
7,587,373
10,339,848
11,288,000
9,507,330
9,106,416
10,477,017
6,563,100
8,411,513
8,282,400
8,845,574
7,925,300
13,882,000
12,071,500
12,732,400
8,708,700
8,199,100
8,200,200
9,842,031
11,833,700
9,864,565
8,094,481
8,728,902
10,868,800
9,862,984
9,123,481
9,300,425
11,854,000
11,000,925
11,161,215
12,036,683
14,050,000
13,322,881
12,477,675
12,394,359
15,069,600
16,321,089
14,839,528
16,145,956
19,339,200
20,816,270
18,818,386
19,413,600
25,077,900
21,954,834
21,181,652
21,313,178
24,328,500
21,623,100
18,580,000
18,222,700
21,278,615
21,278,61518,222,70018,580,00021,623,10024,328,50021,313,17821,181,65221,954,83425,077,90019,413,60018,818,38620,816,27019,339,20016,145,95614,839,52816,321,08915,069,60012,394,35912,477,67513,322,88114,050,00012,036,68311,161,21511,000,92511,854,0009,300,4259,123,4819,862,98410,868,8008,728,9028,094,4819,864,56511,833,7009,842,0318,200,2008,199,1008,708,70012,732,40012,071,50013,882,0007,925,3008,845,5748,282,4008,411,5136,563,10010,477,0179,106,4169,507,33011,288,00010,339,8487,587,3736,607,3474,655,0008,120,9156,213,3696,429,2003,570,3006,080,4905,580,9005,096,6003,347,0001,819,5251,640,4811,520,1172,137,6001,550,4961,187,5511,065,9051,384,0481,018,264769,327869,6261,064,734806,074646,570707,612352,500808,523460,814517,558800,483474,880418,371660,070789,1000390,9050571,1690443,8350000000000000000
       Other Current Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
814,320
0
264,841
0
975,129
0
1,437,096
1,059,515
1,299,437
1,997,798
1,442,400
1,225,028
1,292,086
2,994,849
3,329,500
2,322,146
2,621,088
2,739,923
2,775,766
2,850,532
2,660,799
3,333,958
3,344,297
2,715,629
3,014,897
4,175,922
1,890,300
3,082,382
2,987,124
3,621,728
1,576,800
83,300
57,800
94,803
1,430,900
105,600
106,834
98,482
1,244,000
123,984
117,632
162,672
101,600
114,921
115,720
114,895
5,098,400
135,857
140,000
136,029
5,149,800
144,300
155,000
130,800
8,485,200
9,337,300
8,393,700
13,787,061
12,681,000
7,510,104
9,571,050
7,453,708
9,991,800
7,493,655
10,223,587
7,738,662
10,017,800
4,673,306
8,106,204
6,044,998
3,877,500
3,394,179
3,860,958
3,874,518
3,785,600
5,047,122
4,981,780
4,549,770
5,683,000
4,837,507
5,380,368
6,250,000
12,941,400
10,316,988
11,303,059
12,466,257
15,155,100
12,714,200
5,453,500
4,754,600
15,561,548
15,561,5484,754,6005,453,50012,714,20015,155,10012,466,25711,303,05910,316,98812,941,4006,250,0005,380,3684,837,5075,683,0004,549,7704,981,7805,047,1223,785,6003,874,5183,860,9583,394,1793,877,5006,044,9988,106,2044,673,30610,017,8007,738,66210,223,5877,493,6559,991,8007,453,7089,571,0507,510,10412,681,00013,787,0618,393,7009,337,3008,485,200130,800155,000144,3005,149,800136,029140,000135,8575,098,400114,895115,720114,921101,600162,672117,632123,9841,244,00098,482106,834105,6001,430,90094,80357,80083,3001,576,8003,621,7282,987,1243,082,3821,890,3004,175,9223,014,8972,715,6293,344,2973,333,9582,660,7992,850,5322,775,7662,739,9232,621,0882,322,1463,329,5002,994,8491,292,0861,225,0281,442,4001,997,7981,299,4371,059,5151,437,0960975,1290264,8410814,3200000000000000000
   > Long-term Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,338,997
5,321,182
4,717,585
5,610,920
5,605,500
5,620,402
5,869,554
8,595,416
7,050,600
7,261,512
6,623,208
6,528,774
8,445,325
7,997,061
8,363,510
10,290,755
9,287,404
9,960,153
10,476,776
9,649,280
9,382,500
9,200,965
8,475,390
8,558,214
10,264,300
10,499,700
9,854,500
9,642,301
9,313,200
9,225,500
8,208,604
8,042,948
7,558,500
6,815,901
6,355,465
5,742,034
5,902,700
5,723,359
8,519,856
8,596,410
8,717,300
8,390,926
8,823,200
9,388,595
7,496,100
7,021,000
6,583,700
6,911,200
6,673,800
7,220,900
7,782,100
9,684,700
9,700,700
9,323,895
8,699,247
8,068,854
8,416,500
8,148,715
8,375,968
10,599,000
10,180,600
9,760,390
10,126,972
10,108,688
11,750,400
13,162,009
13,169,213
13,611,530
14,175,900
16,360,368
16,621,717
17,207,325
16,567,300
17,906,715
15,546,803
15,861,200
15,718,500
14,024,333
15,148,729
15,532,747
14,089,800
13,397,400
12,806,600
12,507,200
13,990,042
13,990,04212,507,20012,806,60013,397,40014,089,80015,532,74715,148,72914,024,33315,718,50015,861,20015,546,80317,906,71516,567,30017,207,32516,621,71716,360,36814,175,90013,611,53013,169,21313,162,00911,750,40010,108,68810,126,9729,760,39010,180,60010,599,0008,375,9688,148,7158,416,5008,068,8548,699,2479,323,8959,700,7009,684,7007,782,1007,220,9006,673,8006,911,2006,583,7007,021,0007,496,1009,388,5958,823,2008,390,9268,717,3008,596,4108,519,8565,723,3595,902,7005,742,0346,355,4656,815,9017,558,5008,042,9488,208,6049,225,5009,313,2009,642,3019,854,50010,499,70010,264,3008,558,2148,475,3909,200,9659,382,5009,649,28010,476,7769,960,1539,287,40410,290,7558,363,5107,997,0618,445,3256,528,7746,623,2087,261,5127,050,6008,595,4165,869,5545,620,4025,605,5005,610,9204,717,5855,321,1825,338,9970000000000000000000000
       Long term Debt Total 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,370,327
2,409,655
2,693,360
2,664,138
2,536,844
2,053,455
2,428,252
2,135,837
2,138,458
2,253,406
2,170,483
2,301,680
2,218,970
2,788,137
2,651,322
2,671,857
2,482,000
0
02,482,0002,671,8572,651,3222,788,1372,218,9702,301,6802,170,4832,253,4062,138,4582,135,8372,428,2522,053,4552,536,8442,664,1382,693,3602,409,6552,370,32700000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
       Other Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,315,093
0
0
0
1,434,052
0
0
0
1,574,976
1,628,657
1,690,029
2,369,978
2,454,239
2,723,801
2,693,410
2,473,096
2,456,503
2,004,856
1,941,120
2,080,377
1,442,263
1,704,755
2,173,432
2,046,853
1,874,982
1,817,710
1,812,925
1,729,131
2,373,500
2,399,427
2,325,249
2,243,626
2,350,800
2,388,120
2,362,503
2,214,052
2,845,660
2,679,461
2,640,633
2,606,840
3,277,968
3,194,004
5,300,381
5,294,715
5,362,973
5,160,576
5,573,263
5,739,687
3,546,901
3,476,154
3,075,782
3,490,826
3,301,553
3,627,417
3,925,258
4,991,966
4,910,250
4,568,971
4,526,280
4,642,442
4,321,067
4,258,480
4,784,710
6,961,748
6,619,501
6,193,663
8,985,509
8,863,500
10,888,206
10,734,257
10,834,865
11,241,203
11,766,251
13,667,008
13,957,579
14,670,481
14,514,036
15,478,463
13,410,966
13,722,663
13,465,054
11,853,850
12,847,000
13,313,900
11,301,581
0
10,134,830
10,025,260
0
010,025,26010,134,830011,301,58113,313,90012,847,00011,853,85013,465,05413,722,66313,410,96615,478,46314,514,03614,670,48113,957,57913,667,00811,766,25111,241,20310,834,86510,734,25710,888,2068,863,5008,985,5096,193,6636,619,5016,961,7484,784,7104,258,4804,321,0674,642,4424,526,2804,568,9714,910,2504,991,9663,925,2583,627,4173,301,5533,490,8263,075,7823,476,1543,546,9015,739,6875,573,2635,160,5765,362,9735,294,7155,300,3813,194,0043,277,9682,606,8402,640,6332,679,4612,845,6602,214,0522,362,5032,388,1202,350,8002,243,6262,325,2492,399,4272,373,5001,729,1311,812,9251,817,7101,874,9822,046,8532,173,4321,704,7551,442,2632,080,3771,941,1202,004,8562,456,5032,473,0962,693,4102,723,8012,454,2392,369,9781,690,0291,628,6571,574,9760001,434,0520001,315,093000000000000000000
> Total Stockholder Equity
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,214,543
0
3,363,437
0
3,584,506
0
4,129,596
4,585,340
4,303,859
4,014,262
4,308,200
4,338,301
3,949,762
17,666,882
16,995,900
16,923,668
17,072,820
19,856,503
19,854,896
19,565,797
19,758,810
19,531,799
19,221,538
18,681,393
17,811,608
17,110,059
17,419,900
17,355,360
16,672,973
16,229,352
20,787,500
21,836,200
21,515,000
21,339,295
22,017,400
22,628,700
23,926,067
24,111,097
24,361,900
24,140,591
24,822,342
25,007,983
25,611,300
27,309,386
26,727,978
27,495,803
28,863,700
28,687,612
30,988,300
38,633,977
42,838,800
38,922,500
40,814,500
42,395,300
42,221,600
44,318,000
44,190,400
48,274,753
48,331,900
47,077,862
44,301,007
47,431,606
44,825,000
46,844,755
47,769,219
47,166,109
46,008,800
48,823,821
52,260,753
58,957,736
56,340,600
59,108,516
61,625,190
65,751,759
61,278,000
70,359,906
73,922,755
78,006,278
73,815,700
82,044,123
78,889,789
86,771,200
82,643,000
78,923,098
86,263,126
90,178,032
81,955,600
84,999,600
85,074,600
90,254,900
78,969,290
78,969,29090,254,90085,074,60084,999,60081,955,60090,178,03286,263,12678,923,09882,643,00086,771,20078,889,78982,044,12373,815,70078,006,27873,922,75570,359,90661,278,00065,751,75961,625,19059,108,51656,340,60058,957,73652,260,75348,823,82146,008,80047,166,10947,769,21946,844,75544,825,00047,431,60644,301,00747,077,86248,331,90048,274,75344,190,40044,318,00042,221,60042,395,30040,814,50038,922,50042,838,80038,633,97730,988,30028,687,61228,863,70027,495,80326,727,97827,309,38625,611,30025,007,98324,822,34224,140,59124,361,90024,111,09723,926,06722,628,70022,017,40021,339,29521,515,00021,836,20020,787,50016,229,35216,672,97317,355,36017,419,90017,110,05917,811,60818,681,39319,221,53819,531,79919,758,81019,565,79719,854,89619,856,50317,072,82016,923,66816,995,90017,666,8823,949,7624,338,3014,308,2004,014,2624,303,8594,585,3404,129,59603,584,50603,363,43703,214,5430000000000000000
   Common Stock
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,124,100
0
0
0
4,742,800
0
0
0
0
0
5,743,768
0
0
5,716,087
6,105,207
6,105,207
6,105,207
6,105,207
6,544,115
6,599,777
6,602,000
6,601,990
6,812,666
6,832,078
6,832,100
6,832,078
7,367,404
7,613,780
7,613,780
7,634,348
7,770,554
8,299,059
8,303,900
8,321,408
11,743,058
12,176,962
12,187,300
12,730,533
12,742,000
56,983,341
57,000,800
57,026,700
57,131,300
57,508,800
57,582,400
57,614,100
57,614,100
57,614,140
57,614,100
57,614,140
57,614,140
57,614,140
57,614,100
57,614,140
57,614,140
57,614,140
57,614,100
57,710,202
57,710,202
57,710,202
57,710,200
57,798,844
57,800,996
57,866,759
57,866,800
57,899,073
57,899,073
57,899,073
57,899,100
57,973,874
58,006,296
58,006,300
58,042,500
58,130,517
58,130,517
58,130,517
58,130,500
58,177,900
58,177,900
58,177,900
58,177,929
58,177,92958,177,90058,177,90058,177,90058,130,50058,130,51758,130,51758,130,51758,042,50058,006,30058,006,29657,973,87457,899,10057,899,07357,899,07357,899,07357,866,80057,866,75957,800,99657,798,84457,710,20057,710,20257,710,20257,710,20257,614,10057,614,14057,614,14057,614,14057,614,10057,614,14057,614,14057,614,14057,614,10057,614,14057,614,10057,614,10057,582,40057,508,80057,131,30057,026,70057,000,80056,983,34112,742,00012,730,53312,187,30012,176,96211,743,0588,321,4088,303,9008,299,0597,770,5547,634,3487,613,7807,613,7807,367,4046,832,0786,832,1006,832,0786,812,6666,601,9906,602,0006,599,7776,544,1156,105,2076,105,2076,105,2076,105,2075,716,087005,743,768000004,742,8000003,124,10000000000000000000000000000
   Retained Earnings Total Equity00000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
   Accumulated Other Comprehensive Income 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
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14,791,126
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   Capital Surplus 
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53,662,811
53,662,811
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053,662,81153,662,81153,662,81153,662,81153,662,81153,662,81153,662,81153,662,81153,662,81153,662,81153,662,81153,662,8110000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
   Treasury Stock00000000-1,037,711-1,012,719-1,012,635-973,698-941,637-947,770-957,394-957,285-955,135-943,591000-884,358-888,775-897,542-894,994-902,049-890,263-905,744-908,676-912,890-915,173-900,661-1,003,508-1,021,579-649,461-246,873-172,761-75,735-44,708-26,105-28,8000-4,5250-3,8750-12,10100-9,395-29-7,233-4,429-28,606-28,433-159,78300-87,772-206,228-109,300-105,310-107,636-1,673,558-1,158,869-478,433-192,538-1,750,369-940,768-1,244,904-755,215-777,010-393,444-189,178-158,458-454,278-329,983-1,265,945-680,587-499,760-338,5390-276,3250-180,546000-499,441000000000000000000
   Other Stockholders Equity 
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Balance Sheet

Currency in BRL. All numbers in thousands.




Cash Flow

Currency in BRL. All numbers in thousands.




Income Statement

Currency in BRL. All numbers in thousands.


Latest Income Statement (annual, 2023-12-31)

Gross Profit (+$)
totalRevenue79,736,856
Cost of Revenue-42,140,951
Gross Profit37,595,90537,595,905
 
Operating Income (+$)
Gross Profit37,595,905
Operating Expense-20,447,058
Operating Income17,148,84717,148,847
 
Operating Expense (+$)
Research Development0
Selling General Administrative5,273,700
Selling And Marketing Expenses18,163,100
Operating Expense20,447,05823,436,800
 
Net Interest Income (+$)
Interest Income1,864,899
Interest Expense-2,889,180
Other Finance Cost-832,337
Net Interest Income-191,944
 
Pretax Income (+$)
Operating Income17,148,847
Net Interest Income-191,944
Other Non-Operating Income Expenses0
Income Before Tax (EBT)15,221,34619,076,348
EBIT - interestExpense = 14,259,667
14,577,381
17,391,080
Interest Expense2,889,180
Earnings Before Interest and Taxes (EBIT)17,148,84718,110,526
Earnings Before Interest and Taxes (EBITDA)23,563,908
 
After tax Income (+$)
Income Before Tax15,221,346
Tax Provision--878,581
Net Income From Continuing Ops15,515,32116,099,927
Net Income14,501,900
Net Income Applicable To Common Shares0
 
Non-recurring Events
Discontinued Operations0
Extraordinary Items0
Effect of Accounting Charges0
Other Items0
Non Recurring0
Other Operating Expenses62,588,009
Total Other Income/Expenses Net-1,927,501191,944
 

Technical Analysis of Ambev
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of Ambev. The general trend of Ambev is BEARISH with 85.7% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine Ambev's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitionsBullish trend (-85.7%) Bearish trend (85.7%)
Overbought to neutralBullish pullback=Bearish reversal
Upper to lower neutralBullish correction=Bearish continuation
Nuetral to oversoldOversold=Oversold
Oversold to neutralBullish reversal=Bearish correction
Lower to upper neutralBullish continuation=Bearish pullback
Nuetral to overboughtOverbought=Overbought

1. Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.


Score

Let's take a look at the Support & Resistance of Ambev S.A..

The long score for the Support & Resistance is 0/1.
The longshort score for the Support & Resistance is 0/(-1 +1).

  • Between support/resistance: The price is trading between support and resistance lines.

The bullish price targets are: 13.59 < 13.83 < 14.12.

The bearish price targets are: 11.66 > 11.54.

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Ambev S.A. Daily Support & Resistance Chart

2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

  • Moving averages are lagging trend indicators.
  • There are many types of moving averages.
  • Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of Ambev S.A.. The current mas is .

The long score for the Moving Averages is 1/14.
The longshort score for the Moving Averages is -12/(-14 +14).

  • MA 20 trending down: The MA 20 is trending down. -1
  • Close < MA 20: The price is below the MA 20. -1
  • MA 20 < MA 50: The MA 20 is lower than the MA 50. -1
  • MA 20 < MA 100: The MA 20 is lower than the MA 100. -1
  • MA 20 < MA 200: The MA 20 is lower than the MA 200. -1
  • MA 50 trending down: The MA 50 is trending down. -1
  • Close < MA 50: The price is below the MA 50. -1
  • MA 50 < MA 100: The MA 50 is lower than the MA 100. -1
  • MA 50 < MA 200: The MA 50 is lower than the MA 200. -1
  • MA 100 trending up: The MA 100 is trending up. +1
  • Close < MA 100: The price is below the MA 100. -1
  • MA 100 < MA 200: The MA 100 is lower than the MA 200. -1
  • MA 200 trending down: The MA 200 is trending down. -1
  • Close < MA 200: The price is below the MA 200. -1

Directionalities and relatives.

Moving AverageAmount of candlesTrendPrice +/-vs. MA 50vs. MA 100vs. MA 200
MA 2020
MA 5050-
MA 100100--
MA 200200---

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Ambev S.A. Daily Moving Averages Chart
2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

  • MACD is a lagging momentum indicator.
  • Uses two moving averages.
  • Can show buy or sell signals based on momentum.
  • Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of Ambev S.A.. The current macd is -0.14863853.

The long score for the Moving Average Convergence/Divergence (MACD) is 1/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is -2/(-4 +4).

  • MACD line < signal line: The MACD line is below the signal line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Ambev price going down in the near term. -2
  • MACD < 0: The MACD is below the zero line (centerline), it indicates a bearish signal for Ambev. This means that the short-term moving average is lower than the long-term moving average, signaling negative momentum and suggesting a higher likelihood of the Ambev price continuing to fall in the near future. It indicates that sellers are gaining control, and there is negativism in the market, leading to potential price decreases. -1
  • Trending up: The MACD line is trending up. This indicates that the short-term moving average is rising faster than the long-term moving average, suggesting positive momentum in the market. This signals that buyers are becoming more active and confident, leading to potential price increases as traders anticipate further gains and are willing to buy at higher prices. +1
Ambev S.A. Daily Moving Average Convergence/Divergence (MACD) ChartAmbev S.A. Daily Moving Average Convergence/Divergence (MACD) Chart
2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.


Score

Let's take a look at the Directional Movement Index (DMI) of Ambev S.A.. The current adx is 16.81.

The long score for the Directional Movement Index (DMI) is 0/7.
The longshort score for the Directional Movement Index (DMI) is -2/(-7 +7).

  • PLUS_ID < MINUS_DI: The +DI line is below the -DI line. This indicates a bearish signal in the market, as the negative directional movement is currently stronger than the positive directional movement, showing that sellers have the upper hand. Market psychology suggests that traders are pessimistic, expecting further price decreases, and are more willing to sell Ambev shares, leading to potential downward momentum in its price. -1
  • PLUS_ID < MINUS_DI && ADX < 25 && ADX trending up: The ADX is below 25 and indicates a weak or no trend. However, the ADX is rising and a new bearish trend could be forming. -1
Ambev S.A. Daily Directional Movement Index (DMI) Chart
2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

  • Parabolic SAR (stop and reverse) is a lagging trend indicator.
  • Shows the current trend.
  • Shows potential entry signals.
  • Shows  potential exit signals.
  • Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of Ambev S.A.. The current sar is 12.84.

The long score for the Parabolic SAR is 0/1.
The longshort score for the Parabolic SAR is -1/(-1 +1).

  • Close < SAR: The price is below the SAR. It's generally considered a bearish signal. -1
Ambev S.A. Daily Parabolic SAR Chart

3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

  • Leading momentum indicator, meaning the signals are instant.
  • Ranges between 0 and 100.
  • Above 70 is considered overbought.
  • Below 30 is considered oversold.
  • Above or below 50 can also be used to determine price trend or support and resistance.
  • RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
  • Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of Ambev S.A.. The current rsi is 42.03. The current phase is Continuation in bear market.

The long score for the Relative Strength Index (RSI) is 1/13.
The longshort score for the Relative Strength Index (RSI) is -2/(-13 +13).

  • Continuation in bear market: Downtrend continues after a consolidation or pullback. Hold or add to short positions.
  • Trending up: The RSI is trending up. +1
Ambev S.A. Daily Relative Strength Index (RSI) ChartAmbev S.A. Daily Relative Strength Index (RSI) Chart
3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

  • Leading momentum indicator, meaning the signals are instant.
  • Used to determine overbought and oversold areas much like the RSI.
  • Ranges between 0 and 100.
  • Above 80 is considered overbought.
  • Below 20 is considered oversold.
  • Consists of two lines named K and D.
  • K compares the highest high and lowest low on the selected price range.
  • The D line is a moving average of the K line.
  • Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of Ambev S.A.. The current phase is Continuation in bear market.

The long score for the Stochastic Oscillator is 3/6.
The longshort score for the Stochastic Oscillator is 2/(-6 +6).

  • STOCH < 50: The STOCH %K is below 50. There are more sellers than buyers. -1
  • STOCH %K line > STOCH %D line: The STOCH %K line is above the STOCH %D line, which indicates a bullish signal in the market. This means that the positive momentum is currently stronger than the average momentum, suggesting that buyers are more active than sellers, and there's a higher probability of the Ambev price going up in the near term. +2
  • Trending up: The STOCH %K is trending up. +1
Ambev S.A. Daily Stochastic Oscillator ChartAmbev S.A. Daily Stochastic Oscillator Chart
3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

  • Lagging or leading Momentum indicator
  • When the CCI is above zero, the price is above the historical average
  • When the CCI is below zero, the price is below the historical average
  • Used for spotting trends
    • If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
    • If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of Ambev S.A.. The current cci is -93.3655006.

Ambev S.A. Daily Commodity Channel Index (CCI) ChartAmbev S.A. Daily Commodity Channel Index (CCI) Chart
3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

  • Lagging momentum indicator
  • Ranges between +100 and -100
  • Considered overbought above +50
  • Considered oversold below -50
  • It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of Ambev S.A.. The current cmo is -14.50027573.

The long score for the Chande Momentum Oscillator (CMO) is 0/1.
The longshort score for the Chande Momentum Oscillator (CMO) is -1/(-1 +1).

  • CMO < 0: The CMO is below 0, the momentum of the price is negative, indicating a potential downtrend in the price. -1
Ambev S.A. Daily Chande Momentum Oscillator (CMO) ChartAmbev S.A. Daily Chande Momentum Oscillator (CMO) Chart
3.5 Williams %R

 Shows the current price relative to the highest high over the last 14 days.
 

  • Lagging momentum indicator
  • Ranging between 0 and -100
  • Above -20 is considered overbought
  • Below -80 is considered oversold
  • Is prone to give false signals

Score

Let's take a look at the Williams %R of Ambev S.A.. The current willr is -62.16216216.

The long score for the Williams %R is 0/1.
The longshort score for the Williams %R is 0/(-1 +1).

  • WILLR between -80 and -20: The Williams %R is between -80 and -20. This indicates that Ambev is trading in a neutral price range, neither oversold nor overbought, suggesting a balanced market condition without any extreme price signals.
Ambev S.A. Daily Williams %R ChartAmbev S.A. Daily Williams %R Chart

4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

  • Lagging volatility indicator
  • Uses 3 bands: one upper, one lower and one in the middle
  • Works best when the middle band reflects an intermediate trend (MA20).
  • When the price is moving closer to the upper band, the market might be overbought
  • When the price is moving closer to the lower band, the market might be oversold 

Score

Let's take a look at the Bollinger Bands of Ambev S.A..

Ambev S.A. Daily Bollinger Bands Chart
4.2 Average True Range (ATR)
Measures market volatility
  • Leading volatility indicator
  • Can be used to determine stop-loss positions
  • Calculated by:
    • Current high minus the current low
    • Current high minus the previous close
    • Current low minus the previous close
  • The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of Ambev S.A.. The current atr is 0.23986233.

Ambev S.A. Daily Average True Range (ATR) ChartAmbev S.A. Daily Average True Range (ATR) Chart

5. Volume Indicators

5.1 On-Balance Volume (OBV)

 Measures market volatility

  • Leading momentum indicator
  • Calculation:
    • If the closing price is above the previous closing price: OBV = previous OBV + current volume
    • If the closing price is below the previous closing price: OBV = previous OBV - current volume
    • If the closing price is the same as the previous closing price than the OBV is the same.
  • Can be used to confirm price trends
  • Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of Ambev S.A.. The current obv is -797,551,300.

Ambev S.A. Daily On-Balance Volume (OBV) ChartAmbev S.A. Daily On-Balance Volume (OBV) Chart
5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

  • Lagging momentum indicator
  • Looks like RSI but uses volume as an extra metric (RSI only considers price)
  • Above 80 is considered overbought
  • Below 20 is considered oversold
  • Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of Ambev S.A.. The current mfi is 36.93.

The long score for the Money Flow Index (MFI) is 0/2.
The longshort score for the Money Flow Index (MFI) is -1/(-2 +2).

  • MFI < 50: -1
Ambev S.A. Daily Money Flow Index (MFI) ChartAmbev S.A. Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

TypeNotificationDate
PenkeCurrently no notifications for Ambev S.A..

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

DateIndicatorSignal
2023-11-03DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2023-11-08STOCH LONG EXITThe %K line crosses below the %D line.
2023-11-13STOCH SHORT EXITThe %K line crosses above the %D line.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2023-11-14CCI LONG ENTRY SHORT CLOSE100 crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2023-11-17STOCH LONG EXITThe %K line crosses below the %D line.
2023-11-27STOCH SHORT EXITThe %K line crosses above the %D line.
BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
2023-11-29MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
STOCH LONG EXITThe %K line crosses below the %D line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2023-11-30DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
STOCH SHORT EXITThe %K line crosses above the %D line.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2023-12-01MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2023-12-05STOCH LONG EXITThe %K line crosses below the %D line.
2023-12-08STOCH SHORT EXITThe %K line crosses above the %D line.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2023-12-12STOCH LONG EXITThe %K line crosses below the %D line.
2023-12-13STOCH SHORT EXITThe %K line crosses above the %D line.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2023-12-14STOCH LONG EXITThe %K line crosses below the %D line.
MFI LONG ENTRY SHORT CLOSE80 crossover to upside
2023-12-15MFI SHORT ENTRY LONG CLOSE80 crossover to downside
2023-12-18STOCH SHORT EXITThe %K line crosses above the %D line.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2023-12-19MFI LONG ENTRY SHORT CLOSE80 crossover to upside
2023-12-20STOCH LONG EXITThe %K line crosses below the %D line.
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
MFI SHORT ENTRY LONG CLOSE80 crossover to downside
2023-12-21SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
2023-12-22MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
2023-12-26STOCH SHORT EXITThe %K line crosses above the %D line.
2023-12-28STOCH LONG EXITThe %K line crosses below the %D line.
2024-01-03CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2024-01-04CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2024-01-05CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2024-01-08STOCH SHORT EXITThe %K line crosses above the %D line.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2024-01-09STOCH LONG EXITThe %K line crosses below the %D line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2024-01-10STOCH SHORT EXITThe %K line crosses above the %D line.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2024-01-11STOCH LONG EXITThe %K line crosses below the %D line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2024-01-12STOCH SHORT EXITThe %K line crosses above the %D line.
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
2024-01-16DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
STOCH LONG EXITThe %K line crosses below the %D line.
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
BB LONG ENTRY SHORT CLOSEPrice closed below the lower band.
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2024-01-18STOCH SHORT EXITThe %K line crosses above the %D line.
BB LONG ENTRY SHORT CLOSEPrice closed below the lower band.
MFI SHORT ENTRY LONG CLOSE20 crossover to downside
2024-01-19MFI LONG ENTRY SHORT CLOSE20 crossover to upside
2024-01-24STOCH LONG EXITThe %K line crosses below the %D line.
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2024-01-29STOCH SHORT EXITThe %K line crosses above the %D line.
2024-01-30STOCH LONG EXITThe %K line crosses below the %D line.
BB LONG ENTRY SHORT CLOSEPrice closed below the lower band.
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2024-02-01STOCH SHORT EXITThe %K line crosses above the %D line.
2024-02-06SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
2024-02-07STOCH LONG EXITThe %K line crosses below the %D line.
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2024-02-08SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
2024-02-09STOCH SHORT EXITThe %K line crosses above the %D line.
2024-02-14WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2024-02-15STOCH LONG EXITThe %K line crosses below the %D line.
2024-02-16BB LONG ENTRY SHORT CLOSEPrice closed below the lower band.
2024-02-19RSI LONG ENTRY SHORT CLOSE30 crossover to upside
STOCH SHORT EXITThe %K line crosses above the %D line.
2024-02-22MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-02-23DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
STOCH LONG EXITThe %K line crosses below the %D line.
2024-02-26DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
STOCH SHORT EXITThe %K line crosses above the %D line.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2024-02-27CCI LONG ENTRY SHORT CLOSE100 crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-02-29DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
STOCH LONG EXITThe %K line crosses below the %D line.
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
BB LONG ENTRY SHORT CLOSEPrice closed below the lower band.
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2024-03-01MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
2024-03-04STOCH SHORT EXITThe %K line crosses above the %D line.
2024-03-06DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-03-07DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
STOCH LONG EXITThe %K line crosses below the %D line.
2024-03-08DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
STOCH SHORT EXITThe %K line crosses above the %D line.
2024-03-11MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
2024-03-12CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2024-03-13STOCH LONG EXITThe %K line crosses below the %D line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2024-03-14STOCH SHORT EXITThe %K line crosses above the %D line.
2024-03-15DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
STOCH LONG EXITThe %K line crosses below the %D line.
2024-03-19MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
STOCH SHORT EXITThe %K line crosses above the %D line.
2024-03-20CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
2024-03-22STOCH LONG EXITThe %K line crosses below the %D line.
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2024-03-25CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
2024-03-26STOCH SHORT EXITThe %K line crosses above the %D line.

6.3. Candlestick Patterns

Ambev S.A. Daily Candlestick Chart
DateCandlestick Pattern

6.4. Technical Score

Let's check the technical score of Ambev S.A. based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5042.034
Ma 20Greater thanMa 5012.595
Ma 50Greater thanMa 10012.890
Ma 100Greater thanMa 20013.099
OpenGreater thanClose12.360
Total0/5 (0.0%)
Penke

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