Armada Hflr Pr
Buy, Hold or Sell?

Let's analyse Armada Hflr Pr together

Penke I guess you are interested in Armada Hflr Pr. 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 Armada Hflr Pr. 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.

You can find me behind Let's Analyse Together in the top-right of each section.

Get notifications about Armada Hflr Pr

I send you an email if I find something interesting about Armada Hflr Pr.

Quick analysis of Armada Hflr Pr (30 sec.)

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

How much money do you get?

$0.90

When do you have the money?

1 year

How often do you get paid?

100.0%

What is your share worth?

Current worth

$9.11

Expected worth in 1 year

$7.99

How sure are you?

82.5%

+ What do you gain per year?

Total Gains per Share

$-0.22

Return On Investment

-2.0%

For what price can you sell your share?

Current Price per Share

$10.70

Expected price per share

$9.822105 - $11.76

How sure are you?

50%

1. Valuation of Armada Hflr Pr (5 min.)

Live pricePrice per Share (EOD)

$10.70

Book Value per Share

$9.11

Intrinsic Value Per Share

$-0.87 - $11.48

Total Value Per Share

$8.24 - $20.59

My calculation of the intrinsic value of Armada Hflr Pr is based how much money is coming from the company's main activities (Free Cash Flow).

The following numbers are based on moving averages and per share and per quarter.
I use a 6% discount rate for the low estimation and 3% for the high estimation.
The current Free Cash Flow Per Share is 10Y: ($0.23) 3Y: ($0.30) TTM: ($0.25)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($0.00) 3Y: ($-0.01) TTM: ($-0.08)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$0.77	$1.20	$0.71 - $1.23
2	$1.29	$2.38	$0.48 - $1.26
3	$1.58	$3.56	$0.26 - $1.28
4	$1.68	$4.73	$0.03 - $1.31
5	$1.59	$5.88	$-0.20 - $1.33
6	$1.35	$7.03	$-0.42 - $1.36
7	$0.97	$8.16	$-0.65 - $1.39
8	$0.46	$9.28	$-0.88 - $1.41
9	$-0.16	$10.39	$-1.11 - $1.44
10	$-0.87	$11.48	$-1.33 - $1.47

2. Growth of Armada Hflr Pr (5 min.)

Is Armada Hflr Pr growing?

	Current year	Previous year	Grow	Grow %
How rich?	$805.1m	$892.3m	-$35.5m	-4.1%

How much money is Armada Hflr Pr making?

	Current year	Previous year	Grow	Grow %
Making money	$1.3m	$22.1m	-$20.7m	-1,537.6%
Net Profit Margin	1.2%	20.4%	-	-

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

Quarterly Yearly

3. Financial Health of Armada Hflr Pr (5 min.)

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

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

What can you expect buying and holding a share of Armada Hflr Pr?

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

Speculation

The Price per Share of Armada Hflr Pr is $10.70. 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 Armada Hflr Pr.
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 Armada Hflr Pr, 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 $9.11. Based on the TTM, the Book Value Change Per Share is $-0.28 per quarter. Based on the YOY, the Book Value Change Per Share is $0.19 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 $0.23 per quarter.

Based on historical numbers we can estimate the returns while holding a share of Armada Hflr Pr.

How much money are you going to get?

	MRQ		TTM		YOY		5Y		10Y
	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share
Usd Eps	-0.17	-1.6%	0.00	0.0%	0.23	2.2%	0.09	0.8%	0.08	0.7%
Usd Book Value Change Per Share	-0.58	-5.4%	-0.28	-2.6%	0.19	1.8%	0.11	1.1%	0.19	1.8%
Usd Dividend Per Share	0.23	2.2%	0.23	2.1%	0.22	2.1%	0.21	1.9%	0.17	1.6%
Usd Total Gains Per Share	-0.34	-3.2%	-0.05	-0.5%	0.41	3.8%	0.32	3.0%	0.36	3.3%
Usd Price Per Share	12.37	-	11.53	-	12.33	-	12.98	-	12.64	-
Price to Earnings Ratio	-17.94	-	52.77	-	19.89	-	89.50	-	74.54	-
Price-to-Total Gains Ratio	-36.15	-	20.29	-	25.07	-	16.06	-	73.81	-
Price to Book Ratio	1.36	-	1.20	-	1.14	-	1.34	-	2.28	-
Price-to-Total Gains Ratio	-36.15	-	20.29	-	25.07	-	16.06	-	73.81	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	10.7
Number of shares	93

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.23	0.21
Usd Book Value Change Per Share	-0.28	0.11
Usd Total Gains Per Share	-0.05	0.32
Gains per Quarter (93 shares)	-5.01	29.92
Gains per Year (93 shares)	-20.04	119.69

Years	Return on Investment (TTM)			Return on Investment (5Y)
	Dividend	Book Value gain	Total gains	Dividend	Book Value gain	Total gains
Broker costs	-	-	-10	-	-	-10
1	84	-104	-30	77	43	110
2	168	-208	-50	154	85	230
3	252	-312	-70	231	128	350
4	336	-416	-90	309	170	470
5	420	-520	-110	386	213	590
6	504	-625	-130	463	255	710
7	588	-729	-150	540	298	830
8	672	-833	-170	617	341	950
9	757	-937	-190	694	383	1070
10	841	-1041	-210	771	426	1190

How sure are you?

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

Linear %

	Trailing 12 Months				3Y				5 Year				10 Year				ALLTIME
				%				%				%				%				%
Earnings Per Share	3.0	1.0	0.0	75.0%	11.0	1.0	0.0	91.7%	19.0	1.0	0.0	95.0%	39.0	1.0	0.0	97.5%	47.0	2.0	0.0	95.9%
Book Value Change Per Share	0.0	4.0	0.0	0.0%	4.0	8.0	0.0	33.3%	9.0	11.0	0.0	45.0%	23.0	17.0	0.0	57.5%	24.0	23.0	2.0	49.0%
Dividend per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	20.0	0.0	0.0	100.0%	40.0	0.0	0.0	100.0%	46.0	0.0	3.0	93.9%
Total Gains per Share	2.0	2.0	0.0	50.0%	8.0	4.0	0.0	66.7%	13.0	7.0	0.0	65.0%	33.0	7.0	0.0	82.5%	38.0	9.0	2.0	77.6%

Fundamentals of Armada Hflr Pr

About Armada Hflr Pr

https://www.armadahoffler.com
164
222 Central Park Avenue, Virginia Beach, VA, United States, 23462-3039
Google Maps Bing Maps

Armada Hoffler (NYSE: AHH) is a vertically-integrated, self-managed real estate investment trust with over four decades of experience developing, building, acquiring, and managing high-quality retail, office, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States. The Company also provides general construction and development services to third-party clients, in addition to developing and building properties to be placed in their stabilized portfolio. Founded in 1979 by Daniel A. Hoffler, Armada Hoffler has elected to be taxed as a REIT for U.S. federal income tax purposes.

Fundamental data was last updated by Penke on 2024-04-13 04:33:03.

Financial Health

Profitability Details

	Compared to previous year	Compared to industry
The company is making a profit.
Using its assets, the company is inefficient in making profit.
Using its investors money, the company is very inefficient in making profit.

Operating Efficiency Details

	Compared to previous year	Compared to industry
The company is operating less efficient.
The company is less efficient in keeping operating costs low.

Liquidity Details

	Compared to previous year	Compared to industry
The company is able to pay all its short-term debts.
The company is very able to pay all its short-term debts with the most liquid assets.

Solvency Details

	Compared to previous year	Compared to industry
The company is able to pay all its debts by selling its assets.
The company is just not able to pay all its debts with equity.

Valuation

Valuation Details

	Compared to previous year	Compared to industry
Based on the equity, the company is underpriced.
Based on the earnings, the company is expensive.
Based on how much money comes from the company's main activities, the company is underpriced.

1.1. Profitability of Armada Hflr Pr.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit Armada Hflr Pr earns for each $1 of revenue.

Above 10% is considered healthy but always compare Armada Hflr Pr to the REIT - Diversified industry mean.
A Net Profit Margin of -8.0% means that $-0.08 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Armada Hflr Pr:

The MRQ is -8.0%. The company is making a loss. -1
The TTM is 1.2%. The company is making a profit. +1

Trends

Current period		Compared to		+/-
MRQ	-8.0%	TTM	1.2%	-9.2%
TTM	1.2%	YOY	20.4%	-19.2%
TTM	1.2%	5Y	10.4%	-9.2%
5Y	10.4%	10Y	10.5%	0.0%

Measures how much net profit Armada Hflr Pr earns for each $1 of revenue.

Revenue is the amount of profit Armada Hflr Pr generates before taxes and all other costs. For example, when you buy a cup of coffee it will cost you $3. The company does not earn $3 in profit but also has to pay various costs and taxes to create that cup of coffee. Let's assume the cost of creating a cup of coffee is $1.5.

The $3 you pay for a cup of coffee is called revenue.
The $1.5 that’s left over when all costs to create that cup of coffee (including taxes) are deduced from the revenue is called net profit.

The net profit margin looks at how much net profit Armada Hflr Pr earns for each $1 in revenue.

How to use net profit margin

Higher profit margin is better (more profit).
Above 10% is considered healthy but always compare Armada Hflr Pr to the REIT - Diversified industry mean.
Can be used to compare companies within the REIT - Diversified industry.

You typically want a high profit margin. This means that for each $1 in sales, Armada Hflr Pr makes more profit. This shows the investor how efficiently Armada Hflr Pr is operating in general and compared to other companies in the same industry. Armada Hflr Pr operates in the REIT - Diversified industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of Armada Hflr Pr. If profit margins remain low (compared to the REIT - Diversified industry mean) and there are no improvements to make in production costs or other areas that might be a warning sign. If profit margins are high that means the company has low overhead costs and is efficiently using its resources to generate profit.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Net Profit Margin of Armada Hflr Pr is -0.08. This means that Armada Hflr Pr earned $-0.08 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Net Profit Margin of the REIT - Diversified industry is .
What is the trend?
The trend is important because it shows you how Armada Hflr Pr is performing over time. The most recent quarter might be important if Armada Hflr Pr released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Armada Hflr Pr up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare Armada Hflr Pr with other companies in the same industry (REIT - Diversified).
Net profit margin should rise over the years.
Can be influenced when Armada Hflr Pr sells assets (profit will increase while costs remain the same).
It won’t show what part of Armada Hflr Pr is doing great or needs improvement (it only looks at total revenue and total net income).

How to calculate net profit margin

Net profit margin = net income / total revenue * 100%

Real example of Armada Hflr Pr

You need the following data to determine net profit margin:

Income statement from the period you want to calculate (for example, MRQ or TTM).

Net income MRQ Armada Hflr Pr = -15,225
Total revenue MRQ Armada Hflr Pr = 191,152
$-15,225 / $191,152 = -0.08 or -8.0%

Higher is better

The higher the net profit margin, the more efficient the company is generating income. This helps investors to determine how the company is managing money. The net profit margin is an important indicator when diving into the financial health of a company. Overall, you want to see the net profit margin rising over the years. That means the company improved their production and made it more efficient (if possible).

You can use the net profit margin to compare companies within the same industry. If there are two companies where one is much bigger but the smaller one has a higher net profit margin, that means the smaller company is more efficiently using operational costs.

Important: Profit margins can be very different between industries. Companies with assembly lines or transports are much more prone to see shifting in prices for fuel, ingredients and maintenance compared to companies that only provide services. You should never compare net profit margin between different industries.

1.1.2. Return on Assets

Shows how efficient Armada Hflr Pr is using its assets to generate profit.

Above 5% is considered healthy but always compare Armada Hflr Pr to the REIT - Diversified industry mean.
-0.6% Return on Assets means that Armada Hflr Pr generated $-0.01 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Armada Hflr Pr:

The MRQ is -0.6%. Using its assets, the company is very inefficient in making profit. -2
The TTM is 0.1%. Using its assets, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	-0.6%	TTM	0.1%	-0.7%
TTM	0.1%	YOY	1.0%	-0.9%
TTM	0.1%	5Y	0.5%	-0.4%
5Y	0.5%	10Y	0.6%	-0.1%

Shows how efficient Armada Hflr Pr is using its assets to generate profit.

For a farm, a tractor is considered an asset. The tractor helps ploughing the land making it possible to plant and harvest crops. But the tractor might be old and needing maintenance all the time reducing its efficiency. Return on assets indicates how effectively the farm is using the tractor (and other assets that help the core business) to plough the land.

How to use return on assets

Higher is better.
Above 5% is considered healthy but always compare Armada Hflr Pr to the REIT - Diversified industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on assets in their analysis

Shows the investor how effectively Armada Hflr Pr is using its resources to generate profit. If the return on assets (-0.6%) from Armada Hflr Pr are higher than the REIT - Diversified mean () that means Armada Hflr Pr is using its resources better than their competitors. If not, that means their competitors are more efficient in using their resources to generate profit.

An investor should always look at:

What is the current return on assets?
The current most recent quarter (MRQ) Return on Assets of Armada Hflr Pr is -0.6%. This means the company generated $-0.01 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the REIT - Diversified industry is .
What is the trend?
The trend is important because it shows you how Armada Hflr Pr is performing over time. The most recent quarter might be important if Armada Hflr Pr released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Armada Hflr Pr up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
If a company has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

How to calculate return on assets

Return on assets = net income / total assets * 100%

Real example Armada Hflr Pr

You need the following data to determine return on assets (ROA):

Income statement
Balance sheet

Net income MRQ (income statement) from Armada Hflr Pr = -15,225
Total assets MRQ (balance sheet) from Armada Hflr Pr = 2,562,898
-15,225 / 2,562,898 = -0.01 or -0.6%

ROA is an important ratio as it will tell you how effectively Armada Hflr Pr is using its resources to generate profits. Example:

Bob and Kristin both sell ice cream in the summer. They both have an ice cream truck. The truck Bob owes cost him $20.000 and the truck Kristin owes cost her $1500. Over the summer, Bob earned $2000 and Kristin earned $200. To calculate the return on assets:

Bob: $2000 / $20.000 * 100% = 10%
Kristin: $200 / $1500 * 100% = 13.3%

This tells you Bob’s company is more valuable but Kristin's company is more efficient. Be aware that total assets can change over time. A transportation business will buy and sell trucks or planes all the time. Before using return on assets as a guideline, you have to know what the exact assets are. For a company that has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

1.1.3. Return on Equity

Shows how efficient Armada Hflr Pr is using its investors money to generate profit.

Above 15%-20% is considered healthy but always compare Armada Hflr Pr to the REIT - Diversified industry mean.
-2.7% Return on Equity means Armada Hflr Pr generated $-0.03 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Armada Hflr Pr:

The MRQ is -2.7%. Using its investors money, the company is very inefficient in making profit. -2
The TTM is -0.1%. Using its investors money, the company is very inefficient in making profit. -2

Trends

Current period		Compared to		+/-
MRQ	-2.7%	TTM	-0.1%	-2.6%
TTM	-0.1%	YOY	2.5%	-2.5%
TTM	-0.1%	5Y	1.2%	-1.2%
5Y	1.2%	10Y	3.1%	-2.0%

Shows how efficient Armada Hflr Pr is using its investors money to generate profit.

A publicly traded company (any company that issues shares to the public) is owned by its shareholders. Return on equity calculates the amount of profit for every $1 the shareholders invested.

How to use return on equity

Higher is better.
Above 15%-20% is considered healthy but always compare Armada Hflr Pr to the REIT - Diversified industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on equity in their analysis

To find out the owners/management's attitude toward their company. You typically want the owners/management to invest in the company and focus on generating profit. If not enough profit is generated (compared to the REIT - Diversified industry mean), the company might not be investing their money efficiently.

The three steps every investor should look at:

What is the current return on equity?
The current most recent quarter (MRQ) Return on Equity of Armada Hflr Pr is -2.7%. This means Armada Hflr Pr generated $-0.03 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the REIT - Diversified industry is .
What is the trend?
The trend is important because it shows you how Armada Hflr Pr is performing over time. The most recent quarter might be important if Armada Hflr Pr released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Armada Hflr Pr up to 10 years back (depending if Armada Hflr Pr existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Does not include intangible assets (non physical assets like licences, computer software, etc.).
Stockholders equity and shareholders equity refer to the same thing.
Liabilities should not be more than three times return on equity.

How to calculate return on equity

Return on equity = net profit / shareholders equity * 100%

Real example of Armada Hflr Pr

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Armada Hflr Pr = -15,225
Shareholders equity (balance sheet) MRQ Armada Hflr Pr = 572,622
-15,225 / 572,622 = -0.03 or -2.7%

A negative shareholder equity is a warning sign. It means the company has more liabilities than assets. It might also mean that the owners did not invest enough money or they are taking money out of the business.

1.2. Operating Efficiency of Armada Hflr Pr.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Armada Hflr Pr is operating .

Measures how much profit Armada Hflr Pr makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
Above 15% is considered healthy but always compare Armada Hflr Pr to the REIT - Diversified industry mean.
An Operating Margin of -2.2% means the company generated $-0.02 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Armada Hflr Pr:

The MRQ is -2.2%. The company is operating very inefficient. -2
The TTM is 9.7%. The company is operating less efficient.

Trends

Current period		Compared to		+/-
MRQ	-2.2%	TTM	9.7%	-11.9%
TTM	9.7%	YOY	17.3%	-7.6%
TTM	9.7%	5Y	18.3%	-8.5%
5Y	18.3%	10Y	16.8%	+1.4%

Measures how efficient Armada Hflr Pr is operating .

The more effecient a company creates products or provides services, the more profit it generates.

How to use operating margin

Higher is better
Above 15% is considered healthy but always compare Armada Hflr Pr to the REIT - Diversified industry mean.
Can be very different between industries
Can be used to compare companies

Why do investors use operating margin in their analysis

To determine how much profit Armada Hflr Pr is making from it’s core business.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Operating Margin of Armada Hflr Pr is -2.2%. This means that Armada Hflr Pr earned $-0.02 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the REIT - Diversified industry is .
What is the trend?
The trend is important because it shows you how Armada Hflr Pr is performing over time. The most recent quarter might be important if Armada Hflr Pr released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Armada Hflr Pr up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Can be calculated in different ways

How to calculate operating margin

Operating margin = operating earnings / total revenue

Real example of Armada Hflr Pr

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Armada Hflr Pr = -4,141
Total revenue MRQ Armada Hflr Pr = 191,152
$-4,141 / $191,152 = -0.02 or -2.2%

Operating margin is used to calculate how much profit a company makes after variable costs of production but before paying interest and taxes. Some variable costs examples are wages, raw materials, packaging, and transaction fees. The amount of variable costs is different for each company and industry. In general, a higher operating margin is better as this implicates that a company is running efficiently.

For investors, a higher operating margin is a good sign. Although you should always look at operating margin in the long term. If operating margin is fluctuating over the years this might be a sign that things are not running efficiently enough. It’s a way to check how much profit a company is making from its core business.

Operation earnings can be calculated in multiple ways:

Operation earnings = EBIT - non operating income + non operating expense
Operation earnings = Gross profit - operating expense - depreciation and amortisation
Operation earnings = Total revenue - COGS (costs of goods sold) - indirect costs

1.2.2. Operating Ratio

Measures how efficient Armada Hflr Pr is keeping operating costs low.

Below 1 is considered healthy (always compare to REIT - Diversified industry mean).
An Operation Ratio of 1.02 means that the operating costs are $1.02 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Armada Hflr Pr:

The MRQ is 1.022. The company is inefficient in keeping operating costs low. -1
The TTM is 0.903. The company is less efficient in keeping operating costs low.

Trends

Current period		Compared to		+/-
MRQ	1.022	TTM	0.903	+0.119
TTM	0.903	YOY	0.855	+0.048
TTM	0.903	5Y	0.866	+0.036
5Y	0.866	10Y	0.871	-0.005

Measures how efficient Armada Hflr Pr is keeping operating costs low.

If the operating ratio is below 1 that means the company is making money. The lower the operating ratio, the more efficient the company.

How to use operating ratio

Lower is better.
Below 1 is considered healthy but always compare Armada Hflr Pr to the REIT - Diversified industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use operating ratio in their analysis

Shows if costs of creating products and or services is increasing or decreasing. The lower the operating ratio, the more efficient the company is creating products and services.

The three steps every investor should look at:

What is the current Operatin ratio?
The current most recent quarter (MRQ) Operating Ratio of Armada Hflr Pr is 102.2%. This means that Armada Hflr Pr earned $1.02 for each $1 in net sales in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Ratio of the REIT - Diversified industry is .
What is the trend?
The trend is important because it shows you how Armada Hflr Pr is performing over time. The most recent quarter might be important if Armada Hflr Pr released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Armada Hflr Pr up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
You need COGS to calculate operating ratio which is not always shown in the income statement.
Does not consider debt.

How to calculate operating ratio

Operating ratio = Operating expenses + COGS \ Net sales

Real life example Armada Hflr Pr

You need the following data to determine operating ratio:

Income statement

COGS is not always specified on the income statement. If so you can use the following calculation:

(cost of revenue + total operating expenses) \ total revenue
(179,625 +15,668) \ 191,152 = 1.02

The operating ratio measures the efficiency of a company at keeping low costs while generating profits from sales. It compares the total operating expenses to the net amount of sales. The total operating expenses exists of:

COGS (materials, labour, rent of facility, repairs)
Operating expenses (legal fees, marketing, wages, rent, maintenance/repairs)

Operating expenses are all the costs the company makes that are not directly tied to the production of the service or product. Where COGS are costs that are directly tied to the production of a product or service.

Do note that COGS is not always available in the income statement. Some companies include COGS in the operating expenses while others list COGS separately. To make it even more confusing, COGS is also known as “costs of sales” and costs of sales is the same as costs of revenue.

The operating ratio tells you how efficient the company is creating its products or services while keeping prices low. In this case, a lower ratio is better. Higher or rising operating ratios might tell you that costs are rising while sales are not improving or staying the same.

1.3. Liquidity of Armada Hflr Pr.

1.3. Liquidity

1.3.1. Current Ratio

Measures if Armada Hflr Pr is able to pay off Short-term Debt.

Above 1.5 is considered healthy (always compare to REIT - Diversified industry mean).
A Current Ratio of 0.70 means the company has $0.70 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Armada Hflr Pr:

The MRQ is 0.695. The company is unable to pay all its short-term debts. -2
The TTM is 1.568. The company is able to pay all its short-term debts. +1

Trends

Current period		Compared to		+/-
MRQ	0.695	TTM	1.568	-0.872
TTM	1.568	YOY	2.479	-0.911
TTM	1.568	5Y	2.994	-1.427
5Y	2.994	10Y	2.498	+0.496

Measures if Armada Hflr Pr is able to pay off Short-term Debt.

How to use current ratio

Higher is better
Above 1.5 is considered healthy (always compare to REIT - Diversified industry mean).
Can be very different between industries
Can be used to compare companies

Why do investors use current ratio in their analysis

Shows if the company can pay of short term debts if needed. A company that can't pay off it's short term debts might get in trouble if they have to pay off their short term debts for whatever reason. For example, markets can change due to global events like covid-19 or the war in Ukraine versus Russia. Because debts are always taken based on future income, it might become troublesome for Armada Hflr Pr if something happens in the market that will cause sales to plummet.

The three steps every investor should look at:

What is the current current Ratio?
The current most recent quarter (MRQ) Current Ratio of Armada Hflr Pr is 0.70. This means Armada Hflr Pr has $0.70 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the REIT - Diversified industry is .
What is the trend?
The trend is important because it shows you how Armada Hflr Pr is performing over time. The most recent quarter might be important if Armada Hflr Pr released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Armada Hflr Pr up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Might be deluded.
Not all assets can always be quickly sold.
Can be manipulated by increasing or decreasing the assets and/or liabilities.

How to calculate current ratio

Current ratio = current assets \ current liabilities

Real life example Armada Hflr Pr

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
329,420 \ 473,802) = 0.70

The current ratio measures if Armada Hflr Pr is able to pay short-term debts (obligations). Short term in this context means all debt obligations that are about to expire within one year. The current ratio incorporates current liabilities and current assets. Current assets are all the assets a company has that are expected to be consumed or sold within standard business operations. You can find the current assets in the balance sheet. They consist of:

Inventory
Accounts receivable
Marketable securities
Prepaid expenses
Cash
Cash equivalents
liquid assets

The current liabilities are short term obligations that are due within one year. These consist of:

Short term debts
Dividends
Income taxes
Short-term debts
Accounts payable
Interest payments

The result shows an investor if Armada Hflr Pr is able to pay all its short-term debts if they were due all at once. When the result of the above formula is below 1, then Armada Hflr Pr does not have enough capital after selling all its assets to pay all short-term debts. If the ratio drops far below 1 that might indicate Armada Hflr Pr is or will be in financial trouble anytime soon.

Although this gives an investor some clues, the current ratio may also be deluded. Because owning assets does not mean the company can easily sell them. Also, Accounts receivable may be quite old (they will probably never pay) which deludes the current ratio. As with all ratios, you should only compare them between the same industries and companies.

1.3.2. Quick Ratio

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

Above 1 is considered healthy but always compare Armada Hflr Pr to the REIT - Diversified industry mean.
A Quick Ratio of 0.36 means the company can pay off $0.36 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Armada Hflr Pr:

The MRQ is 0.359. The company is just not able to pay all its short-term debts with the most liquid assets. -1
The TTM is 1.622. The company is very able to pay all its short-term debts with the most liquid assets. +2

Trends

Current period		Compared to		+/-
MRQ	0.359	TTM	1.622	-1.264
TTM	1.622	YOY	2.456	-0.834
TTM	1.622	5Y	3.556	-1.934
5Y	3.556	10Y	2.737	+0.820

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

How to use quick ratio

Higher is better.
Above 1 is considered healthy but always compare Armada Hflr Pr to the REIT - Diversified industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use quick ratio in their analysis

Shows how fast Armada Hflr Pr can pay off its short term debts. This shows if Armada Hflr Pr can survive emergencies due to market changes or other reasons.

The three steps every investor should look at:

What is the current Quick Ratio?
The current most recent quarter (MRQ) quickRatio of Armada Hflr Pr is 0.36. This means that Armada Hflr Pr can pay off $0.36 for each $1 in debt (using most liquid assets).
How does it compare to the industry?
The mean MRQ Quick Ratio of the REIT - Diversified industry is .
What is the trend?
The trend is important because it shows you how Armada Hflr Pr is performing over time. The most recent quarter might be important if Armada Hflr Pr released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Armada Hflr Pr up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Incorporates only most liquid assets.

How to calculate quick ratio

Quick ratio = cash and equivalents + marketable securities + accounts receivable / current liabilities

Real life example Armada Hflr Pr

You need the following data to determine operating ratio:

Balance sheet
Quick ratio = cash and short-term investments + short-term investments + netReceivables / total current liabilities
MRQ quick ratio Armada Hflr Pr: (30,166 + 0 +139,701) / 473,802 = 0.36

The quick ratio measures the same thing as the current ratio, only it uses the most liquid assets a company has. Meaning, the assets that can be sold for cash the easiest and fastest.

As the quick ratio only incorporates the most liquid assets, you should also check the current ratio which also includes less liquid assets. But they may be harder to sell.

1.4. Solvency of Armada Hflr Pr.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of Armada Hflr Pr assets are financed with debt.

Below 1 (100%) is considered healthy but always compare Armada Hflr Pr to REIT - Diversified industry mean.
A Debt to Asset Ratio of 0.69 means that Armada Hflr Pr assets are financed with 68.6% credit (debt) and the remaining percentage (100% - 68.6%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of Armada Hflr Pr:

The MRQ is 0.686. The company is able to pay all its debts by selling its assets. +1
The TTM is 0.649. The company is able to pay all its debts by selling its assets. +1

Trends

Current period		Compared to		+/-
MRQ	0.686	TTM	0.649	+0.037
TTM	0.649	YOY	0.601	+0.048
TTM	0.649	5Y	0.624	+0.025
5Y	0.624	10Y	0.647	-0.023

Measures how much % of Armada Hflr Pr assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake Armada Hflr Pr than its shareholders.

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Armada Hflr Pr to REIT - Diversified industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to asset ratio in their analysis

It shows how much debt the company used to finance its assets. If a company is almost entirely financed with debt that means the company might get into serious trouble when emergencies arise like a raise in interest.

The three steps every investor should look at:

What is the current debt to asset ratio?
The current most recent quarter (MRQ) Debt to Asset Ratio of Armada Hflr Pr is 0.69. This means means that Armada Hflr Pr is financed with 68.6% credit and the remaining percentage is financed by it's owners (shareholders).
How does it compare to the industry?
The mean MRQ Current Ratio of the REIT - Diversified industry is .
What is the trend?
The trend is important because it shows you how Armada Hflr Pr is performing over time. The most recent quarter might be important if Armada Hflr Pr released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Armada Hflr Pr up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Some companies can have higher debt to assets ratio's (for example, banks).
Debt to asset ratio should improve over the years.
If the debt to asset ratio is above 1, look at the industry mean and find out why Armada Hflr Pr has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Armada Hflr Pr

You need the following data to determine debt to asset ratio:

Balance sheet
Debt to asset ratio = total debt \ total assets
1,757,720 \ 2,562,898 = 68.6% or 0.69.

The debt to total assets ratio shows if the company is owned by creditors or shareholders. Or in other words, the total debt in relation to the total amount of assets. It shows how much debt the company used to finance its assets.

1.4.2. Debt to Equity Ratio

Measures if Armada Hflr Pr is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare Armada Hflr Pr to the REIT - Diversified industry mean.
A Debt to Equity ratio of 307.0% means that company has $3.07 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Armada Hflr Pr:

The MRQ is 3.070. The company is unable to pay all its debts with equity. -1
The TTM is 2.087. The company is just not able to pay all its debts with equity.

Trends

Current period		Compared to		+/-
MRQ	3.070	TTM	2.087	+0.982
TTM	2.087	YOY	1.508	+0.579
TTM	2.087	5Y	1.719	+0.368
5Y	1.719	10Y	4.072	-2.353

Measures if Armada Hflr Pr is able to pay off its debts by using shareholders equity.

How to use debt to equity ratio

Lower is better.
Below 2 is considered healthy (always use industry average).
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to shareholders equity ratio in their analysis

It shows how much debt the company uses to finance their operations. Shareholders equity is whats left over when you subtract total liabilities from total assets. It's another way to meassure how much of Armada Hflr Pr is financed with debt or own resources.

The three steps every investor should look at:

What is the current debt to equity ratio?
The current most recent quarter (MRQ) quickRatio of Armada Hflr Pr is 3.07. This means that Armada Hflr Pr can pay off $3.07 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the REIT - Diversified industry is .
What is the trend?
The trend is important because it shows you how Armada Hflr Pr is performing over time. The most recent quarter might be important if Armada Hflr Pr released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Armada Hflr Pr up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Not all debt is equally risky (for example, short term risk is less risky).

How to calculate debt to equity ratio

Debt to equity ratio = total debt \ shareholders equity.

Real life example Armada Hflr Pr

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
1,757,720 \ 572,622 = 3.07 or 307.0%

Debt to equity measures the total debt versus the total shareholders equity. While the total debts to total assets ratio uses total assets, the debt to equity ratio looks at the total equity of shareholders. Where equity of shareholders are:

Common shares.
Preferred shares.
Retained earnings.

You can find the shareholders' equity in the balance sheet. A ratio between 0,5 and 1,5 is preferred. If the ratio is above 1.5, that would indicate creditors have significantly more stake (debt) in the company than the shareholders. In other words, the company is using a lot of debt to finance their operations.

Not all debt is equally risky. Meaning you can adjust the ratio by including or excluding certain amounts of debt. Short term debts are less risky because they have to be paid back within one year anyway. It’s much easier to plan one year ahead versus five or ten years.

2. Market Valuation of Armada Hflr Pr

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings Armada Hflr Pr generates.

Above 15 is considered overpriced but always compare Armada Hflr Pr to the REIT - Diversified industry mean.
A PE ratio of -17.94 means the investor is paying $-17.94 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Armada Hflr Pr:

The EOD is -15.522. Based on the earnings, the company is expensive. -2
The MRQ is -17.945. Based on the earnings, the company is expensive. -2
The TTM is 52.772. Based on the earnings, the company is expensive. -2

Trends

Current period		Compared to		+/-
EOD	-15.522	MRQ	-17.945	+2.423
MRQ	-17.945	TTM	52.772	-70.717
TTM	52.772	YOY	19.888	+32.884
TTM	52.772	5Y	89.501	-36.729
5Y	89.501	10Y	74.539	+14.962

Measures how much money you pay for each share for every $1 in earnings Armada Hflr Pr generates.

Indicates if the company’s shares are under or overvalued.

How to use PE ratio

Above 15 is considered overpriced but is hard to determine. Always compare Armada Hflr Pr to the REIT - Diversified industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use PE ratio in their analysis

The PE ratio tells investors the current sentiment in the market for that company. As with every stock, the stock price never shows the real valuation of a company but rather how the market thinks how much the stock is worth.

In other words, the current stock price also incorporates any future earnings or business opportunities in the future. The best example is the stock market crash in 2000. The PE ratio for any internet based company was going through the roof. Only based on the general assumption the internet and all associated businesses would thrive in the future. But this was based on nothing. A business still needs a good product or service to be able to survive. Instead, every investor bought any stock which did something related to the internet. Result: huge market crash.

Many investors were willing to pay premium prices and that was causing the PE ratio to rise. A high PE ratio is a warning sign that investors might be overvaluing a stock based on future earnings.

The three steps every investor should look at:

What is the current PE Ratio?
The current most recent quarter (MRQ) PE Ratio of Armada Hflr Pr is -17.94. This means the investor is paying $-17.94 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the REIT - Diversified industry is .
What is the trend?
The trend is important because it shows you how Armada Hflr Pr is performing over time. The most recent quarter might be important if Armada Hflr Pr released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Armada Hflr Pr up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Some industries might have very high or very low PE ratios in general.
PE ratios can be high for several years, it does not mean a sudden collapse is imminent.
Earnings growth is not included in the PE ratio.

How to calculate PE ratio

PE ratio = market value per share \ earnings per share

Real life example Armada Hflr Pr

You need the following data to determine the PE ratio:

Balance sheet
Income statement

The PE ratio is a very commonly used ratio to determine the value of a company by comparing the current stock price relative to its earnings per share (EPS). Before we can calculate the PE ratio we need to know the EPS. EPS is calculated as follows:

EPS = (net profit - preferred dividends) \ end of period outstanding shares*
Net profit = revenue - expenses
0 \ 88,346 = EPS
PE ratio MRQ = -17.94

* The net profit minus preferred dividends can be found in the incomestatement as netIncomeApplicableToCommonShares.

The PE value helps investors to determine if the current stock price is under or overvalued. It also projects future growth.

In general, a higher PE ratio means that investors predict higher future growth. If the PE ratio is too high, then investors expect way too much future growth the company can never fulfil. This is most likely to happen in faster moving companies like tech companies or automobile companies like Tesla. These are hot and booming markets where investors expect much future growth driven by new technology (electric cars). When looking at the current MRQ (most recent quarter) PE ratio of Tesla ( jan. 2021) it's about 247 while the average in the industry is only 6. That might be a clue that Tesla is trading for way too high prices compared to their current assets and is more based on future growth.

2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Armada Hflr Pr:

The EOD is 21.346. Based on how much money comes from the company's main activities, the company is underpriced. +1
The MRQ is 24.678. Based on how much money comes from the company's main activities, the company is underpriced. +1
The TTM is 15.072. Based on how much money comes from the company's main activities, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	21.346	MRQ	24.678	-3.332
MRQ	24.678	TTM	15.072	+9.606
TTM	15.072	YOY	11.862	+3.210
TTM	15.072	5Y	13.417	+1.655
5Y	13.417	10Y	6.042	+7.374

2. Book Value per Share

2.3. Price to Book Ratio

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

At or below 1 is considered healthy (always compare to REIT - Diversified industry mean).
A PB ratio of 1.36 means the investor is paying $1.36 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Armada Hflr Pr:

The EOD is 1.174. Based on the equity, the company is underpriced. +1
The MRQ is 1.357. Based on the equity, the company is underpriced. +1
The TTM is 1.199. Based on the equity, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	1.174	MRQ	1.357	-0.183
MRQ	1.357	TTM	1.199	+0.158
TTM	1.199	YOY	1.137	+0.062
TTM	1.199	5Y	1.338	-0.139
5Y	1.338	10Y	2.275	-0.937

2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of Armada Hflr Pr.

3.1. Institutions holding Armada Hflr Pr

Institutions are holding 90.254% of the shares of Armada Hflr Pr.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	BlackRock Inc	19.1617	0.004	12798715	379866	3.0588
2023-12-31	Vanguard Group Inc	11.5165	0.0021	7692253	-8333	-0.1082
2023-12-31	State Street Corporation	5.9546	0.0024	3977291	130113	3.382
2023-12-31	Macquarie Group Ltd	5.4597	0.0521	3646741	-13912	-0.38
2023-12-31	FMR Inc	2.7004	0.0017	1803676	9231	0.5144
2023-12-31	Geode Capital Management, LLC	2.4694	0.0021	1649397	61121	3.8483
2023-12-31	Charles Schwab Investment Management Inc	2.3229	0.0049	1551562	124204	8.7017
2023-12-31	Renaissance Technologies Corp	2.1757	0.0278	1453209	-198900	-12.0392
2023-12-31	Silvercrest Asset Management Group LLC	2.0208	0.1181	1349784	-60241	-4.2723
2023-12-31	Aristotle Capital Boston, LLC	1.9299	0.4874	1289043	3815	0.2968
2023-12-31	Putnam Investments LLC	1.8164	0.0198	1213219	65466	5.7038
2023-12-31	Amvescap Plc.	1.6353	0.0032	1092253	-46723	-4.1022
2023-12-31	AllianceBernstein L.P.	1.5652	0.005	1045449	-408232	-28.0826
2023-12-31	Northern Trust Corp	1.4172	0.0021	946608	-19403	-2.0086
2023-12-31	Mesirow Institutional Investment Management, Inc.	1.3754	1.0631	918691	278	0.0303
2023-12-31	Arnhold & S. Bleichroeder Advisers, LLC	1.3286	0.0262	887431	72625	8.9132
2023-12-31	Phocas Financial Corp	1.2204	1.3325	815141	-7846	-0.9534
2023-12-31	LSV Asset Management	1.1222	0.0202	749568	-38200	-4.8491
2023-12-31	Bank of New York Mellon Corp	1.0259	0.0017	685239	-53724	-7.2702
2023-12-31	Morgan Stanley - Brokerage Accounts	0.9807	0.0007	655074	57231	9.5729
Total		69.1989	3.1771	46220344	+48436	+0.1%

3.2. Funds holding Armada Hflr Pr

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2024-02-29	iShares Core S&P Small-Cap ETF	6.8927	0.0605	4603832	7452	0.1621
2023-12-31	Macquarie US Small Cap Core Equity	4.3778	0.4839	2924056	0	0
2024-01-31	Delaware Small Cap Core I	4.3259	0.4884	2889419	-34637	-1.1846
2024-02-29	Vanguard Real Estate Index Investor	4.1178	0.0438	2750406	-13232	-0.4788
2024-02-29	Vanguard Total Stock Mkt Idx Inv	2.8324	0.0012	1891842	-14139	-0.7418
2024-02-29	iShares Russell 2000 ETF	2.5264	0.0276	1687453	-276	-0.0164
2023-12-31	FIAM Small Cap Core Composite	1.8527	0.3921	1237450	-33200	-2.6128
2023-12-31	FIAM Small Cap Core CIT Cl B	1.8527	0.3776	1237450	-47000	-3.6592
2023-12-31	Putnam U.S. Core Equity Concentrated	1.6933	0.388	1131043	85285	8.1553
2023-12-31	Putnam Core Equity Fund Y	1.6933	0.3589	1131043	85285	8.1553
2024-02-29	Vanguard Institutional Extnd Mkt Idx Tr	1.4974	0.01	1000173	5385	0.5413
2024-02-29	First Eagle Small Cap Opportunity I	1.3263	0.5094	885882	44078	5.2361
2023-12-31	First Eagle US Small Cap Strategy	1.2303	0.6114	821760	62753	8.2678
2023-12-31	Fidelity Small Cap Index	1.0551	0.0343	704714	8468	1.2162
2024-02-01	iShares Russell 2000 Value ETF	0.9751	0.0664	651314	824	0.1267
2023-12-31	Phocas Small Cap Value Equity	0.9385	1.2865	626876	7312	1.1802
2024-02-29	SPDR® Portfolio S&P 600 Sm Cap ETF	0.9031	0.0598	603191	124	0.0206
2024-02-29	Invesco KBW Premium Yield Eq REIT ETF	0.8007	2.712	534787	0	0
2024-02-29	Vanguard Tax-Managed Small Cap Adm	0.7883	0.0603	526556	0	0
2024-02-29	iShares S&P Small-Cap 600 Value ETF	0.7248	0.07	484130	1335	0.2765
Total		42.4046	8.0421	28323377	+165817	+0.6%

3.3. Insider Transactions

Insiders are holding 2.03% of the shares of Armada Hflr Pr.

Date	Owner	Type	Amount	Price
2024-04-04	A Russell Kirk	BUY	913	10.26
2024-03-15	Dennis H Gartman	BUY	4500	10.37
2024-03-12	George F Allen	BUY	1716	10.64
2024-01-04	A Russell Kirk	BUY	715	12.26
2024-01-04	Eric E Apperson	BUY	1203	12.18
2023-10-05	A Russell Kirk	BUY	851	10.11
2023-10-05	Eric E Apperson	BUY	1408	10.21
2023-07-06	A Russell Kirk	BUY	710	11.92
2023-07-06	Eric E Apperson	BUY	1201	11.77

4. Summary

4.1. Key Performance Indicators

The key performance indicators of Armada Hflr Pr compared to the Most Recent Quarter (MRQ).

	End of day	+/-	Most Recent Quarter	Trailing 12 Months	+/-	Year-Over-Year	+/-	5 Year	+/-	10 Year	+/-
Book Value Change Per Share	-	-	-0.576	-0.280	-51%	0.189	-405%	0.114	-603%	0.188	-406%
Book Value Per Share	-	-	9.114	9.631	-5%	10.851	-16%	9.927	-8%	7.179	+27%
Current Ratio	-	-	0.695	1.568	-56%	2.479	-72%	2.994	-77%	2.498	-72%
Debt To Asset Ratio	-	-	0.686	0.649	+6%	0.601	+14%	0.624	+10%	0.647	+6%
Debt To Equity Ratio	-	-	3.070	2.087	+47%	1.508	+104%	1.719	+79%	4.072	-25%
Dividend Per Share	-	-	0.234	0.226	+3%	0.220	+6%	0.207	+13%	0.170	+37%
Eps	-	-	-0.172	-0.002	-99%	0.234	-174%	0.089	-293%	0.080	-316%
Free Cash Flow Per Share	-	-	0.125	0.250	-50%	0.326	-62%	0.291	-57%	0.235	-47%
Free Cash Flow To Equity Per Share	-	-	0.579	0.594	-3%	0.213	+172%	0.464	+25%	0.506	+14%
Gross Profit Margin	-	-	1.000	1.000	0%	1.000	0%	1.000	0%	1.000	0%
Intrinsic Value_10Y_max	-	-	11.481	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	-0.871	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	1.197	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	0.770	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	3.561	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	1.584	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	5.882	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	1.593	-	-	-	-	-	-	-	-
Market Cap	714687240.000	-53%	1092844423.720	1024947371.095	+7%	1013855974.150	+8%	989923172.949	+10%	905890051.175	+21%
Net Profit Margin	-	-	-0.080	0.012	-751%	0.204	-139%	0.104	-176%	0.105	-176%
Operating Margin	-	-	-0.022	0.097	-122%	0.173	-113%	0.183	-112%	0.168	-113%
Operating Ratio	-	-	1.022	0.903	+13%	0.855	+19%	0.866	+18%	0.871	+17%
Pb Ratio	1.174	-16%	1.357	1.199	+13%	1.137	+19%	1.338	+1%	2.275	-40%
Pe Ratio	-15.522	+14%	-17.945	52.772	-134%	19.888	-190%	89.501	-120%	74.539	-124%
Price Per Share	10.700	-16%	12.370	11.525	+7%	12.330	+0%	12.978	-5%	12.641	-2%
Price To Free Cash Flow Ratio	21.346	-16%	24.678	15.072	+64%	11.862	+108%	13.417	+84%	6.042	+308%
Price To Total Gains Ratio	-31.273	+14%	-36.154	20.294	-278%	25.070	-244%	16.063	-325%	73.806	-149%
Quick Ratio	-	-	0.359	1.622	-78%	2.456	-85%	3.556	-90%	2.737	-87%
Return On Assets	-	-	-0.006	0.001	-1035%	0.010	-160%	0.005	-227%	0.006	-196%
Return On Equity	-	-	-0.027	-0.001	-97%	0.025	-208%	0.012	-328%	0.031	-184%
Total Gains Per Share	-	-	-0.342	-0.054	-84%	0.409	-184%	0.322	-206%	0.358	-195%
Usd Book Value	-	-	805178000.000	856836500.000	-6%	892367000.000	-10%	761975500.000	+6%	528954950.000	+52%
Usd Book Value Change Per Share	-	-	-0.576	-0.280	-51%	0.189	-405%	0.114	-603%	0.188	-406%
Usd Book Value Per Share	-	-	9.114	9.631	-5%	10.851	-16%	9.927	-8%	7.179	+27%
Usd Dividend Per Share	-	-	0.234	0.226	+3%	0.220	+6%	0.207	+13%	0.170	+37%
Usd Eps	-	-	-0.172	-0.002	-99%	0.234	-174%	0.089	-293%	0.080	-316%
Usd Free Cash Flow	-	-	11071000.000	22340250.000	-50%	26460500.000	-58%	22264750.000	-50%	17090450.000	-35%
Usd Free Cash Flow Per Share	-	-	0.125	0.250	-50%	0.326	-62%	0.291	-57%	0.235	-47%
Usd Free Cash Flow To Equity Per Share	-	-	0.579	0.594	-3%	0.213	+172%	0.464	+25%	0.506	+14%
Usd Market Cap	714687240.000	-53%	1092844423.720	1024947371.095	+7%	1013855974.150	+8%	989923172.949	+10%	905890051.175	+21%
Usd Price Per Share	10.700	-16%	12.370	11.525	+7%	12.330	+0%	12.978	-5%	12.641	-2%
Usd Profit	-	-	-15225000.000	1350000.000	-1228%	22107750.000	-169%	9344750.000	-263%	7731125.000	-297%
Usd Revenue	-	-	191152000.000	166819250.000	+15%	113538250.000	+68%	102316900.000	+87%	80532950.000	+137%
Usd Total Gains Per Share	-	-	-0.342	-0.054	-84%	0.409	-184%	0.322	-206%	0.358	-195%
	EOD	+4 -4	MRQ	TTM	+7 -28	YOY	+9 -26	5Y	+10 -25	10Y	+14 -21

4.2. Fundamental Score

Let's check the fundamental score of Armada Hflr Pr based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	-15.522
Price to Book Ratio (EOD)	Between	0-1	1.174
Net Profit Margin (MRQ)	Greater than	0	-0.080
Operating Margin (MRQ)	Greater than	0	-0.022
Quick Ratio (MRQ)	Greater than	1	0.359
Current Ratio (MRQ)	Greater than	1	0.695
Debt to Asset Ratio (MRQ)	Less than	1	0.686
Debt to Equity Ratio (MRQ)	Less than	1	3.070
Return on Equity (MRQ)	Greater than	0.15	-0.027
Return on Assets (MRQ)	Greater than	0.05	-0.006
Total			1/10 (10.0%)

Create your own Stock Scanner

Investing is personal. The best investors buy stocks based on their own analysis. Create your personal Stock Scanner with the key performance indicators that are important to you.
Create your own Stock Scanner

4.3. Technical Score

Let's check the technical score of Armada Hflr Pr based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	57.270
Ma 20	Greater than	Ma 50	10.371
Ma 50	Greater than	Ma 100	10.459
Ma 100	Greater than	Ma 200	11.160
Open	Greater than	Close	10.690
Total			2/5 (40.0%)

Create your own Symbol Scanner

Trading is personal. The best traders buy and sell based on their own technical analysis. Create your personal Symbol Scanner with the technical indicators that are important to you.
Create your own Symbol Scanner

Reversals in quarterly reports

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

	2022-12-31		2023-03-31		2023-06-30		2023-09-30		2023-12-31
Other Current Liabilities	-67,131	-43,999	-111,130	-48,998	-160,128	-45,999	-206,127	425,439	219,312
Net Working Capital	160,428	2,024	162,452	-75,494	86,958	457	87,415	-231,797	-144,382
Income before Tax	14,536	-8,931	5,605	9,616	15,221	-6,488	8,733	-29,300	-20,567
Net Income	8,830	-4,121	4,709	4,267	8,976	-2,036	6,940	-22,165	-15,225
EBIT	24,799	-4,461	20,338	3,014	23,352	-1,863	21,489	-25,630	-4,141
Operating Income	24,799	-4,461	20,338	3,439	23,777	-1,435	22,342	-26,483	-4,141
Net Income from Continuing Operations	14,541	-9,024	5,517	9,368	14,885	-6,462	8,423	-29,485	-21,062

Latest Balance Sheet

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

Summary

Total Assets	2,562,898
Total Liabilities	1,757,720
Total Stockholder Equity	572,622

	As reported
Total Liabilities	1,757,720
Total Stockholder Equity	+ 572,622
Total Assets	= 2,562,898

Assets

Total Assets	2,562,898
Total Current Assets	329,420
Long-term Assets	2,233,478

Total Current Assets

Total Current Assets (as reported)	329,420
Cash And Cash Equivalents	30,166
Net Receivables	139,701
Total Current Assets (calculated)	169,867
+/-	159,553

Long-term Assets

Long-term Assets (as reported)	2,233,478
Property Plant Equipment	23,085
Long Term Investments	142,031
Long-term Assets Other	1,929,663
Long-term Assets (calculated)	2,094,779
+/-	138,699

Liabilities & Shareholders' Equity

Total Current Liabilities	473,802
Long-term Liabilities	1,283,918
Total Stockholder Equity	572,622

Total Current Liabilities

Total Current Liabilities (as reported)	473,802
Short-term Debt	73,745
Short Long Term Debt	273,127
Accounts payable	159,331
Other Current Liabilities	219,312
Total Current Liabilities (calculated)	725,515
+/-	251,713

Long-term Liabilities

Long-term Liabilities (as reported)	1,283,918
Long term Debt	1,123,838
Capital Lease Obligations	123,397
Long-term Liabilities Other	23,920
Long-term Liabilities (calculated)	1,271,155
+/-	12,763

Total Stockholder Equity

Total Stockholder Equity (as reported)	572,622
Common Stock	668
Accumulated Other Comprehensive Income	4,906
Other Stockholders Equity	580,687
Total Stockholder Equity (calculated)	586,261
+/-	13,639

Other

Capital Stock	171,753
Cash and Short Term Investments	30,166
Common Stock Shares Outstanding	88,346
Current Deferred Revenue	21,414
Liabilities and Stockholders Equity	2,562,898
Net Debt	1,509,217
Net Invested Capital	1,798,502
Net Working Capital	-144,382
Property Plant and Equipment Gross	113,650
Short Long Term Debt Total	1,539,383

Balance Sheet

Currency in USD. All numbers in thousands.

Trend

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

2020-09-30

2020-06-30

2020-03-31

2019-12-31

2019-09-30

2019-06-30

2019-03-31

2018-12-31

2018-09-30

2018-06-30

2018-03-31

2017-12-31

2017-09-30

2017-06-30

2017-03-31

2016-12-31

2016-09-30

2016-06-30

2016-03-31

2015-12-31

2015-09-30

2015-06-30

2015-03-31

2014-12-31

2014-09-30

2014-06-30

2014-03-31

2013-12-31

2013-09-30

2013-06-30

2013-03-31

2012-12-31

2012-09-30

2012-06-30

2012-03-31

2011-12-31

> Total Assets

340,134
0
0
326,305
331,813
333,313
399,307
406,851
435,282
478,912
516,115
567,335
590,906
604,001
633,056
694,093
689,547
809,983
894,472
931,845
982,468
992,904
1,014,338
1,030,998
1,043,123
1,101,789
1,132,371
1,217,858
1,265,382
1,359,254
1,730,027
1,761,059
1,804,897
1,846,090
1,798,866
1,841,272
1,916,971
1,933,981
1,920,458
1,984,384
1,938,063
2,251,955
2,265,535
2,187,571
2,242,310
2,232,015
2,471,054
2,533,084
2,562,898

2,562,898

2,533,084

2,471,054

2,232,015

2,242,310

2,187,571

2,265,535

2,251,955

1,938,063

1,984,384

1,920,458

1,933,981

1,916,971

1,841,272

1,798,866

1,846,090

1,804,897

1,761,059

1,730,027

1,359,254

1,265,382

1,217,858

1,132,371

1,101,789

1,043,123

1,030,998

1,014,338

992,904

982,468

931,845

894,472

809,983

689,547

694,093

633,056

604,001

590,906

567,335

516,115

478,912

435,282

406,851

399,307

333,313

331,813

326,305

340,134

> Total Current Assets

0
0
0
46,623
51,270
46,354
53,775
44,658
53,125
49,002
53,029
57,158
78,897
112,430
91,514
89,826
136,475
80,927
115,681
132,796
139,334
139,732
156,008
150,297
145,843
146,055
146,495
162,044
200,191
208,458
205,574
239,429
264,490
289,780
328,937
317,944
254,159
226,763
209,823
265,078
295,307
303,860
393,325
284,646
298,254
275,354
231,909
250,253
329,420

329,420

250,253

231,909

275,354

298,254

284,646

393,325

303,860

295,307

265,078

209,823

226,763

254,159

317,944

328,937

289,780

264,490

239,429

205,574

208,458

200,191

162,044

146,495

146,055

145,843

150,297

156,008

139,732

139,334

132,796

115,681

80,927

136,475

89,826

91,514

112,430

78,897

57,158

53,029

49,002

53,125

44,658

53,775

46,354

51,270

46,623

Cash And Cash Equivalents

13,449
0
0
8,420
9,400
4,101
14,737
9,775
18,882
13,444
16,271
17,101
25,883
31,479
27,356
15,191
26,989
18,810
19,984
23,890
21,942
10,039
18,587
19,721
19,959
15,804
12,279
17,732
21,254
15,577
23,109
44,195
39,232
48,096
70,979
73,579
40,998
24,762
43,493
28,038
35,247
32,910
69,731
54,700
48,139
33,817
34,054
32,662
30,166

30,166

32,662

34,054

33,817

48,139

54,700

69,731

32,910

35,247

28,038

43,493

24,762

40,998

73,579

70,979

48,096

39,232

44,195

23,109

15,577

21,254

17,732

12,279

15,804

19,959

19,721

18,587

10,039

21,942

23,890

19,984

18,810

26,989

15,191

27,356

31,479

25,883

17,101

16,271

13,444

18,882

9,775

14,737

4,101

9,400

8,420

13,449

Short-term Investments

4,335
0
0
0
3,725
4,402
3,117
2,966
2,160
2,754
3,224
4,425
4,224
4,026
3,090
4,243
2,824
3,695
3,158
3,471
3,251
3,649
3,139
3,195
2,957
3,502
3,139
2,916
0
0
0
0
0
0
0
0
0
0
0
0
1,451,624
20,777
24,270
64,470
71,983
21,338
24,922
39,922
0

39,922

24,922

21,338

71,983

64,470

24,270

20,777

1,451,624

2,916

3,139

3,502

2,957

3,195

3,139

3,649

3,251

3,471

3,158

3,695

2,824

4,243

3,090

4,026

4,224

4,425

3,224

2,754

2,160

2,966

3,117

4,402

3,725

4,335

Net Receivables

0
0
0
0
34,838
37,851
35,921
31,917
32,083
32,804
33,534
35,632
40,252
49,043
61,068
70,392
66,430
55,691
86,710
105,435
114,141
126,044
134,282
127,381
122,927
126,749
131,077
141,396
175,211
188,570
179,613
191,823
219,451
236,992
253,826
238,720
202,564
192,175
156,581
162,863
174,113
183,620
201,233
225,081
246,389
238,918
195,812
215,248
139,701

139,701

215,248

195,812

238,918

246,389

225,081

201,233

183,620

174,113

162,863

156,581

192,175

202,564

238,720

253,826

236,992

219,451

191,823

179,613

188,570

175,211

141,396

131,077

126,749

122,927

127,381

134,282

126,044

114,141

105,435

86,710

55,691

66,430

70,392

61,068

49,043

40,252

35,632

33,534

32,804

32,083

31,917

35,921

37,851

34,838

Other Current Assets

0
0
0
0
7,032
4,402
3,117
2,966
7,455
2,754
3,224
4,425
9,615
4,026
3,090
4,243
8,828
3,695
3,158
3,471
13,382
3,649
3,139
3,195
12,294
3,502
3,139
2,916
11,012
3,382
2,852
3,411
16,539
4,692
4,132
5,645
20,974
9,826
9,749
74,177
104,292
87,330
122,361
-236,781
-68,257
-207,713
-137,623
-162,518
-169,867

-169,867

-162,518

-137,623

-207,713

-68,257

-236,781

122,361

87,330

104,292

74,177

9,749

9,826

20,974

5,645

4,132

4,692

16,539

3,411

2,852

3,382

11,012

2,916

3,139

3,502

12,294

3,195

3,139

3,649

13,382

3,471

3,158

3,695

8,828

4,243

3,090

4,026

9,615

4,425

3,224

2,754

7,455

2,966

3,117

4,402

7,032

> Long-term Assets

0
0
0
263,335
280,543
286,959
345,532
362,193
382,157
429,910
463,086
510,177
512,009
491,571
541,542
604,267
553,072
729,056
778,791
799,049
843,134
853,172
858,330
880,701
897,280
955,734
985,876
1,055,814
1,065,191
1,150,796
1,524,453
1,521,630
1,540,407
1,556,310
1,469,929
1,523,328
1,662,812
1,707,218
1,710,635
1,719,306
1,642,756
1,948,095
1,872,210
1,902,925
1,944,056
1,956,661
2,239,145
2,282,831
2,233,478

2,233,478

2,282,831

2,239,145

1,956,661

1,944,056

1,902,925

1,872,210

1,948,095

1,642,756

1,719,306

1,710,635

1,707,218

1,662,812

1,523,328

1,469,929

1,556,310

1,540,407

1,521,630

1,524,453

1,150,796

1,065,191

1,055,814

985,876

955,734

897,280

880,701

858,330

853,172

843,134

799,049

778,791

729,056

553,072

604,267

541,542

491,571

512,009

510,177

463,086

429,910

382,157

362,193

345,532

286,959

280,543

263,335

Property Plant Equipment

0
0
0
263,335
0
262,682
321,675
338,994
357,748
404,111
438,271
477,768
478,901
459,379
499,713
555,620
633,591
667,294
712,565
726,667
908,287
779,785
788,385
811,921
829,916
887,697
916,232
980,256
987,811
32,242
57,683
57,456
57,218
56,980
56,744
56,509
56,304
80,525
80,184
70,813
70,482
70,151
69,820
69,571
69,228
68,884
116,212
115,722
23,085

23,085

115,722

116,212

68,884

69,228

69,571

69,820

70,151

70,482

70,813

80,184

80,525

56,304

56,509

56,744

56,980

57,218

57,456

57,683

32,242

987,811

980,256

916,232

887,697

829,916

811,921

788,385

779,785

908,287

726,667

712,565

667,294

633,591

555,620

499,713

459,379

478,901

477,768

438,271

404,111

357,748

338,994

321,675

262,682

263,335

Long Term Investments

0
0
0
0
0
0
0
0
0
0
0
0
8,538
27,882
0
0
40,232
0
0
10,360
10,235
10,794
10,950
11,169
11,411
12,821
14,538
16,811
23,132
0
0
0
1,460
0
0
0
2,243
4,967
6,999
9,174
12,685
20,777
53,260
64,470
71,983
93,080
102,371
125,672
142,031

142,031

125,672

102,371

93,080

71,983

64,470

53,260

20,777

12,685

9,174

6,999

4,967

2,243

1,460

23,132

16,811

14,538

12,821

11,411

11,169

10,950

10,794

10,235

10,360

40,232

27,882

8,538

Intangible Assets

0
0
0
0
0
0
0
0
4,369
4,369
0
0
5,247
5,247
0
0
18,418
18,418
0
0
38,853
38,853
0
0
29,881
0
0
0
29,182
0
0
0
68,702
65,014
55,832
57,958
58,154
60,006
55,807
65,197
62,038
111,530
107,147
103,297
103,870
100,006
131,181
127,020
0

127,020

131,181

100,006

103,870

103,297

107,147

111,530

62,038

65,197

55,807

60,006

58,154

57,958

55,832

65,014

68,702

29,182

29,881

38,853

18,418

5,247

4,369

Long-term Assets Other

0
0
0
-263,335
280,543
286,959
345,532
362,193
377,788
429,910
463,086
510,177
506,762
491,571
541,542
604,267
534,654
729,056
778,791
788,689
794,046
842,378
847,380
869,532
855,988
942,913
971,338
1,039,003
1,013,806
1,118,554
1,466,770
1,464,174
1,414,487
1,434,316
1,357,353
1,408,861
43,324
38,054
40,358
42,051
45,927
1,745,637
1,641,983
1,665,587
1,697,575
1,694,691
81,962
104,275
1,929,663

1,929,663

104,275

81,962

1,694,691

1,697,575

1,665,587

1,641,983

1,745,637

45,927

42,051

40,358

38,054

43,324

1,408,861

1,357,353

1,434,316

1,414,487

1,464,174

1,466,770

1,118,554

1,013,806

1,039,003

971,338

942,913

855,988

869,532

847,380

842,378

794,046

788,689

778,791

729,056

534,654

604,267

541,542

491,571

506,762

510,177

463,086

429,910

377,788

362,193

345,532

286,959

280,543

-263,335

> Total Liabilities

377,533
0
0
364,631
373,154
376,054
287,756
298,900
329,761
368,874
408,915
404,580
429,000
441,133
458,693
508,444
463,827
554,731
605,730
621,877
633,490
641,789
581,817
599,565
622,840
684,888
675,401
757,722
809,492
881,568
1,123,585
1,124,474
1,149,450
1,207,689
1,151,920
1,089,835
1,160,169
1,173,229
1,152,839
1,219,628
1,158,240
1,383,751
1,379,199
1,276,657
1,338,296
1,358,153
1,589,392
1,666,440
1,757,720

1,757,720

1,666,440

1,589,392

1,358,153

1,338,296

1,276,657

1,379,199

1,383,751

1,158,240

1,219,628

1,152,839

1,173,229

1,160,169

1,089,835

1,151,920

1,207,689

1,149,450

1,124,474

1,123,585

881,568

809,492

757,722

675,401

684,888

622,840

599,565

581,817

641,789

633,490

621,877

605,730

554,731

463,827

508,444

458,693

441,133

429,000

404,580

408,915

368,874

329,761

298,900

287,756

376,054

373,154

364,631

377,533

> Total Current Liabilities

0
0
0
58,213
33,791
31,815
30,429
35,402
36,143
35,339
42,601
50,809
51,810
41,119
48,989
62,949
60,763
53,600
58,475
68,367
72,101
78,288
74,637
67,775
66,216
55,084
53,955
63,060
69,050
61,819
55,570
58,188
76,491
72,240
90,278
83,577
79,809
51,620
43,002
111,322
107,000
113,433
169,439
103,413
137,826
112,902
144,951
162,838
473,802

473,802

162,838

144,951

112,902

137,826

103,413

169,439

113,433

107,000

111,322

43,002

51,620

79,809

83,577

90,278

72,240

76,491

58,188

55,570

61,819

69,050

63,060

53,955

55,084

66,216

67,775

74,637

78,288

72,101

68,367

58,475

53,600

60,763

62,949

48,989

41,119

51,810

50,809

42,601

35,339

36,143

35,402

30,429

31,815

33,791

58,213

Short-term Debt

0
0
0
0
0
0
0
-406
-11,630
0
0
0
-13,158
0
0
0
-15,105
0
0
0
-17,929
522,394
465,291
488,609
-20,619
589,634
580,446
0
-22,814
0
0
0
-17,477
0
0
886,509
20,004
975,147
964,396
968,424
15,144
75,179
91,204
45,231
67,131
111,130
160,128
206,127
73,745

73,745

206,127

160,128

111,130

67,131

45,231

91,204

75,179

15,144

968,424

964,396

975,147

20,004

886,509

-17,477

-22,814

580,446

589,634

-20,619

488,609

465,291

522,394

-17,929

-15,105

-13,158

-11,630

-406

Short Long Term Debt

0
0
0
0
0
0
0
0
0
0
0
0
356,356
0
0
0
378,675
0
0
0
523,009
522,394
465,291
488,609
517,331
589,634
580,446
0
0
0
0
0
0
0
0
0
20,004
0
0
0
15,144
75,179
91,204
45,231
67,131
111,130
160,128
206,127
273,127

273,127

206,127

160,128

111,130

67,131

45,231

91,204

75,179

15,144

20,004

580,446

589,634

517,331

488,609

465,291

522,394

523,009

378,675

356,356

Accounts payable

23,569
0
0
4,676
19,847
22,538
25,572
33,132
34,602
34,205
41,374
47,389
50,757
39,913
47,306
60,437
58,539
50,423
55,582
61,807
61,934
68,465
67,857
62,543
62,625
52,849
52,244
61,293
66,013
58,197
53,781
54,855
71,185
65,929
80,958
76,492
73,721
48,558
38,865
48,627
60,755
57,015
70,315
87,677
120,311
96,166
126,640
139,711
159,331

159,331

139,711

126,640

96,166

120,311

87,677

70,315

57,015

60,755

48,627

38,865

48,558

73,721

76,492

80,958

65,929

71,185

54,855

53,781

58,197

66,013

61,293

52,244

52,849

62,625

62,543

67,857

68,465

61,934

61,807

55,582

50,423

58,539

60,437

47,306

39,913

50,757

47,389

41,374

34,205

34,602

33,132

25,572

22,538

19,847

4,676

23,569

Other Current Liabilities

3,450
0
0
53,537
9,708
4,240
1,599
406
11,630
1,134
1,227
3,420
13,158
1,206
1,683
2,512
15,105
0
0
0
17,929
0
0
0
20,619
0
0
0
22,814
0
0
0
17,477
0
0
0
-20,004
0
0
60,021
26,220
-33,815
-7,155
-45,231
-67,131
-111,130
-160,128
-206,127
219,312

219,312

-206,127

-160,128

-111,130

-67,131

-45,231

-7,155

-33,815

26,220

60,021

-20,004

17,477

22,814

20,619

17,929

15,105

2,512

1,683

1,206

13,158

3,420

1,227

1,134

11,630

406

1,599

4,240

9,708

53,537

3,450

> Long-term Liabilities

0
0
0
283,195
339,363
344,239
257,327
263,498
293,618
333,535
366,314
353,771
377,190
400,014
409,704
445,495
403,064
501,131
547,255
553,510
561,389
563,501
507,180
531,790
556,624
629,804
621,446
694,662
740,442
819,749
1,068,015
1,066,286
1,072,959
1,135,449
1,061,642
1,006,258
1,080,360
1,121,609
1,109,837
1,108,306
1,051,240
1,270,318
1,209,760
1,173,244
1,200,470
1,245,251
1,444,441
1,503,602
1,283,918

1,283,918

1,503,602

1,444,441

1,245,251

1,200,470

1,173,244

1,209,760

1,270,318

1,051,240

1,108,306

1,109,837

1,121,609

1,080,360

1,006,258

1,061,642

1,135,449

1,072,959

1,066,286

1,068,015

819,749

740,442

694,662

621,446

629,804

556,624

531,790

507,180

563,501

561,389

553,510

547,255

501,131

403,064

445,495

409,704

400,014

377,190

353,771

366,314

333,535

293,618

263,498

257,327

344,239

339,363

283,195

Long term Debt Total

0
0
0
0
0
351,018
261,848
273,518
305,884
344,318
384,471
375,612
401,628
397,994
429,571
420,145
429,660
504,549
551,143
565,196
573,310
579,851
523,837
536,769
564,717
631,150
621,165
699,291
745,035
779,914
987,143
979,887
1,003,919
1,056,778
1,012,006
942,334
1,013,666
1,008,118
982,866
990,502
948,722
1,170,644
1,128,093
1,104,952
1,104,968
1,190,370
1,367,020
1,412,735
0

1,412,735

1,367,020

1,190,370

1,104,968

1,104,952

1,128,093

1,170,644

948,722

990,502

982,866

1,008,118

1,013,666

942,334

1,012,006

1,056,778

1,003,919

979,887

987,143

779,914

745,035

699,291

621,165

631,150

564,717

536,769

523,837

579,851

573,310

565,196

551,143

504,549

429,660

420,145

429,571

397,994

401,628

375,612

384,471

344,318

305,884

273,518

261,848

351,018

Capital Lease Obligations Min Short Term Debt

0
0
0
0
0
0
0
406
11,630
0
0
0
13,158
0
0
0
15,105
0
0
0
17,929
-522,394
-465,291
-488,609
20,619
-589,634
-580,446
0
22,814
41,697
59,162
59,278
98,154
59,428
59,478
-826,979
39,609
-887,536
-876,680
-890,739
62,664
2,720
-13,234
32,886
11,023
-32,949
-35,303
-81,135
49,652

49,652

-81,135

-35,303

-32,949

11,023

32,886

-13,234

2,720

62,664

-890,739

-876,680

-887,536

39,609

-826,979

59,478

59,428

98,154

59,278

59,162

41,697

22,814

-580,446

-589,634

20,619

-488,609

-465,291

-522,394

17,929

15,105

13,158

11,630

406

Warrants

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,000
2,000
2,000
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

2,000

Long-term Liabilities Other

0
0
0
0
0
11,254
12,991
15,736
15,873
16,264
16,474
17,979
17,961
36,284
22,833
79,509
25,471
40,193
45,315
39,517
39,209
39,107
39,889
41,181
39,352
40,170
41,000
40,912
46,203
82,128
59,508
63,637
122,422
128,832
117,209
126,834
122,603
149,524
57,725
62,197
55,876
54,952
228,220
147,404
54,055
148,732
54,973
56,818
23,920

23,920

56,818

54,973

148,732

54,055

147,404

228,220

54,952

55,876

62,197

57,725

149,524

122,603

126,834

117,209

128,832

122,422

63,637

59,508

82,128

46,203

40,912

41,000

40,170

39,352

41,181

39,889

39,107

39,209

39,517

45,315

40,193

25,471

79,509

22,833

36,284

17,961

17,979

16,474

16,264

15,873

15,736

12,991

11,254

Deferred Long Term Liability

0
0
0
0
0
0
0
0
0
0
0
0
22,470
0
0
0
18,751
0
0
0
15,181
0
0
0
15,220
0
0
0
15,687
0
0
0
20,684
0
0
0
31,692
0
0
0
24,656
0
0
0
25,732
0
0
0
0

25,732

24,656

31,692

20,684

15,687

15,220

15,181

18,751

22,470

> Total Stockholder Equity

0
0
0
-38,326
-41,341
-42,741
-42,975
-44,993
-47,423
-42,906
-49,464
9,811
161,906
162,868
174,363
10,092
225,720
255,252
288,742
309,968
348,978
149,671
432,521
232,179
420,283
224,961
456,970
274,912
455,890
477,686
606,442
636,585
655,447
638,401
646,946
751,437
756,802
760,752
767,619
764,756
779,823
868,204
886,336
910,914
904,014
873,862
881,662
866,644
572,622

572,622

866,644

881,662

873,862

904,014

910,914

886,336

868,204

779,823

764,756

767,619

760,752

756,802

751,437

646,946

638,401

655,447

636,585

606,442

477,686

455,890

274,912

456,970

224,961

420,283

232,179

432,521

149,671

348,978

309,968

288,742

255,252

225,720

10,092

174,363

162,868

161,906

9,811

-49,464

-42,906

-47,423

-44,993

-42,975

-42,741

-41,341

-38,326

Common Stock

0
0
0
0
0
0
192
192
192
193
193
250
250
251
258
262
300
310
328
342
374
377
449
449
449
452
488
496
500
523
528
549
563
565
570
579
591
599
610
613
630
675
677
677
677
679
679
679
668

668

679

677

675

630

613

610

599

591

579

570

565

563

549

528

523

500

496

488

452

449

377

374

342

328

310

300

262

258

251

250

193

192

Retained Earnings Total Equity

-142,233

-137,961

-126,875

-122,838

-135,942

-145,687

-141,360

-130,904

-124,697

-119,053

-112,356

-107,262

-107,263

-115,390

-106,676

-100,087

-95,490

-88,949

-82,699

-76,386

-70,648

-65,190

-61,166

-56,755

-55,709

-50,629

-49,345

-46,066

-45,114

-41,244

-53,010

-53,225

-51,447

-53,572

-54,413

-53,695

-51,307

-49,550

-47,934

-46,195

-43,934

Accumulated Other Comprehensive Income

0
0
0
0
0
0
111,551
107,951
105,521
110,038
107,200
162,755
161,906
-495
-344
-972
-648
-1,000
0
0
0
0
0
0
0
0
0
-47
-1,283
-1,981
-4,502
-5,308
-4,240
-9,393
-10,470
-9,767
-8,868
-6,385
-5,914
-5,420
-33
6,476
10,091
15,202
14,679
12,140
13,498
11,433
4,906

4,906

11,433

13,498

12,140

14,679

15,202

10,091

6,476

-33

-5,420

-5,914

-6,385

-8,868

-9,767

-10,470

-9,393

-4,240

-5,308

-4,502

-1,981

-1,283

-47

-1,000

-648

-972

-344

-495

161,906

162,755

107,200

110,038

105,521

107,951

111,551

Capital Surplus

0
0
0
0
0
1
767
1,010
1,247
1,473
1,650
51,179
51,472
51,877
59,831
64,027
102,906
113,105
133,915
153,571
197,114
199,923
288,162
288,485
287,407
289,699
338,577
350,849
357,353
389,547
394,269
430,193
455,680
457,804
460,339
464,632
472,747
482,483
496,111
500,889
525,030
587,474
588,012
588,707
587,884
588,712
589,030
589,291
0

589,291

589,030

588,712

587,884

588,707

588,012

587,474

525,030

500,889

496,111

482,483

472,747

464,632

460,339

457,804

455,680

430,193

394,269

389,547

357,353

350,849

338,577

289,699

287,407

288,485

288,162

199,923

197,114

153,571

133,915

113,105

102,906

64,027

59,831

51,877

51,472

51,179

1,650

1,473

1,247

1,010

767

Treasury Stock

-185,649

-174,363

-162,868

-161,906

-162,755

-107,200

-110,038

-105,521

-107,951

-111,551

Other Stockholders Equity

0
0
0
-38,326
-41,341
-42,741
767
1,010
319
6,451
1,650
63,256
216,069
51,877
59,831
64,027
102,906
296,186
333,528
355,692
397,949
199,923
487,781
288,485
481,000
289,699
527,130
350,849
357,353
389,547
642,656
678,181
702,550
699,369
700,763
696,802
706,350
714,506
726,535
729,382
749,501
835,655
840,425
846,788
844,448
827,919
838,633
608,842
580,687

580,687

608,842

838,633

827,919

844,448

846,788

840,425

835,655

749,501

729,382

726,535

714,506

706,350

696,802

700,763

699,369

702,550

678,181

642,656

389,547

357,353

350,849

527,130

289,699

481,000

288,485

487,781

199,923

397,949

355,692

333,528

296,186

102,906

64,027

59,831

51,877

216,069

63,256

1,650

6,451

319

1,010

767

-42,741

-41,341

-38,326

Balance Sheet

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31
Accounts Payable	159,331	120,311	60,755	73,721	71,185	66,013	62,625	61,934	58,539	50,757	34,602	19,847	23,569	0
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Other Comprehensive Income	4,906	14,679	-33	-8,868	-4,240	-1,283	0	0	-648	161,906	105,521	0	0	0
Additional Paid In Capital	0	0	0	0	0	0	287,407	197,114	0	161,906	105,521	0	0	0
Capital Lease Obligations	123,397	78,154	77,808	59,613	80,677	12,678	13,829	15,545	0	0	0	0	0	0
Capital Stock	171,753	171,762	171,715	171,676	63,813	500	0	0	0	0	0	0	0	0
Capital Surpluse	0	587,884	525,030	472,747	455,680	357,353	287,407	197,114	102,906	51,472	1,247	0	0	0
Cash	30,166	48,139	35,247	40,998	39,232	21,254	19,959	21,942	26,989	25,883	18,882	9,400	13,449	0
Cash And Equivalents	0	48,139	35,247	40,998	39,232	21,254	19,959	21,942	0	0	0	0	0	0
Cash And Short Term Investments	30,166	48,139	35,247	40,998	39,232	21,254	19,959	21,942	26,989	25,883	18,882	9,400	13,449	0
Common Stock	668	677	630	591	563	500	449	374	300	250	192	0	0	0
Common Stock Shares Outstanding	88,346	88,341	83,645	57,328	53,119	47,786	42,094	37,490	30,076	25,023	19,163	16,699	16,699	16,699
Common Stock Total Equity	0	677	630	591	563	500	449	374	300	250	192	0	0	0
Current Deferred Revenue	21,414	17,515	4,881	6,088	5,306	3,037	3,591	10,167	2,224	1,053	1,541	4,236	3,450	0
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Liab	0	25,732	24,656	31,692	20,684	15,687	15,220	15,181	18,751	22,470	0	0	0	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Good Will	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Intangible Assets	109,137	103,870	62,038	58,154	68,702	29,182	29,881	38,853	18,418	5,247	4,369	0	0	0
Inventory	0	71,983	-2,926	1,165	1,460	929	-9,337	-10,131	40,232	8,538	-5,295	1,206	473	0
Liabilities And Stockholders Equity	2,562,898	2,242,310	1,938,063	1,916,971	1,804,897	1,265,382	1,043,123	982,468	689,547	590,906	434,354	331,813	340,134	0
Long Term Debt	1,123,838	1,068,261	917,556	1,013,666	1,003,919	694,239	517,272	573,310	429,660	401,628	305,884	266,183	340,137	0
Long Term Debt Total	0	1,114,738	948,722	1,013,666	1,003,919	745,035	564,717	573,310	429,660	401,628	305,884	0	0	0
Long Term Investments	142,031	71,983	12,685	2,243	1,460	22,203	11,411	10,235	40,232	8,538	0	0	0	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Debt	1,509,217	1,165,407	960,117	982,460	970,682	672,985	497,313	500,238	350,604	333,346	258,863	326,177	326,688	0
Net Invested Capital	1,798,502	1,068,261	917,556	1,315,959	1,295,864	968,110	743,962	0	0	0	0	0	0	0
Net Receivables	139,701	246,389	174,113	202,564	219,451	175,211	122,927	114,141	66,430	40,252	32,083	34,838	33,759	0
Net Tangible Assets	0	476,365	717,785	352,114	345,327	428,329	390,402	148,143	49,548	-2,691	-46,495	0	0	0
Net Working Capital	-144,382	160,428	188,307	160,223	188,020	119,579	71,936	67,233	75,712	27,087	16,982	17,479	21,620	0
Non Current Assets Total	2,233,478	1,944,056	1,642,756	1,662,812	1,540,407	1,065,191	897,280	843,134	553,072	512,009	382,157	280,543	284,632	0
Non Current Liabilities Other	23,920	54,055	55,876	122,603	122,422	1,927	1,674	39,209	25,471	17,961	15,873	0	0	0
Non Current Liabilities Total	1,283,918	1,200,470	1,051,240	1,080,360	1,072,959	740,442	556,624	561,389	403,064	377,190	293,618	339,363	343,651	0
Non Currrent Assets Other	1,929,663	1,697,575	45,927	43,324	1,414,487	1,013,806	855,988	794,046	534,654	506,762	377,788	280,543	284,632	0
Noncontrolling Interest In Consolidated Entity	0	256,564	224,471	233,603	246,870	182,019	193,593	200,835	176,172	164,597	152,016	0	0	0
Other Assets	2,266,662	1,909,904	507,147	1,789,560	25,684	18,681	16,300	15,936	7,016	27,861	20,040	27,283	23,771	0
Other Current Assets	-169,867	-68,257	-196,448	9,432	4,347	11,012	12,294	13,382	8,828	9,615	7,455	7,032	7,821	0
Other Current Liab	219,312	-67,131	26,220	-20,004	-13,135	22,814	20,619	17,929	15,105	13,158	11,630	9,708	6,863	0
Other Liab	0	145,265	91,923	112,811	96,536	84,034	78,442	89,950	71,059	11,593	10,439	13,494	10,377	0
Other Stockholder Equity	580,687	844,448	749,501	706,350	702,550	357,353	481,000	397,949	102,906	216,069	319	-41,341	-37,399	0
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Total Equity	0	171,085	171,085	171,085	63,250	0	0	0	0	161,906	105,521	0	0	0
Property Plant And Equipment Gross	113,650	69,228	70,482	56,304	57,218	0	0	0	0	0	0	0	0	0
Property Plant And Equipment Net	23,085	69,228	70,482	56,304	57,218	0	0	0	0	0	0	0	0	0
Property Plant Equipment	0	1,682,840	1,515,812	1,503,952	1,381,586	984,817	829,236	908,287	633,591	478,901	357,748	0	0	0
Retained Earnings	-184,724	-126,875	-141,360	-112,356	-106,676	-82,699	-61,166	-49,345	-53,010	-54,413	-47,934	0	0	0
Retained Earnings Total Equity	0	-126,875	-141,360	-112,356	-106,676	-82,699	-61,166	-49,345	-53,010	-54,413	-47,934	0	0	0
Short Long Term Debt	273,127	67,131	15,144	20,004	0	0	517,331	523,009	378,675	356,356	0	0	0	0
Short Long Term Debt Total	1,539,383	1,213,546	995,364	1,023,458	1,009,914	694,239	517,272	522,180	377,593	359,229	277,745	335,577	340,137	0
Short Term Debt	73,745	67,131	15,144	20,004	13,135	-22,814	-20,619	-17,929	-15,105	-13,158	-11,630	0	0	0
Short Term Investments	0	71,983	2,926	90	25	0	2,957	3,251	2,824	4,224	2,160	3,725	4,335	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	161,906	105,521	0	0	0
Total Assets	2,562,898	2,242,310	1,938,063	1,916,971	1,804,897	1,265,382	1,043,123	982,468	689,547	590,906	435,282	331,813	340,134	0
Total Current Assets	329,420	298,254	295,307	254,159	264,490	200,191	145,843	139,334	136,475	78,897	53,125	51,270	55,502	0
Total Current Liabilities	473,802	137,826	107,000	79,809	76,491	69,050	66,216	72,101	60,763	51,810	36,143	33,791	33,882	0
Total Liab	1,757,720	1,338,296	1,158,240	1,160,169	1,149,450	809,492	622,840	633,490	463,827	429,000	329,761	373,154	377,533	0
Total Permanent Equity	0	0	0	0	0	0	420,283	348,978	0	161,906	105,521	0	0	0
Total Stockholder Equity	572,622	904,014	779,823	756,802	655,447	455,890	420,283	348,978	225,720	161,906	-47,423	-41,341	-37,399	0
Treasury Stock	0	0	0	0	0	0	0	0	0	-161,906	-105,521	0	0	0
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0

	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	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31
Accounts Payable	159,331	139,711	126,640	96,166	120,311	87,677	70,315	57,015	60,755	48,627	38,865	48,558	73,721	76,492	80,958	65,929	71,185	54,855	53,781	58,197	66,013	61,293	52,244	52,849	62,625	62,543	67,857	68,465	61,934	61,807	55,582	50,423	58,539	60,437	47,306	39,913	50,757	47,389	41,374	34,205	34,602	33,132	25,572	22,538	19,847	4,676	0	0	23,569
Accumulated Amortization	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
Accumulated Depreciation	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
Accumulated Other Comprehensive Income	4,906	11,433	13,498	12,140	14,679	15,202	10,091	6,476	-33	-5,420	-5,914	-6,385	-8,868	-9,767	-10,470	-9,393	-4,240	-5,308	-4,502	-1,981	-1,283	-47	0	0	0	0	0	0	0	0	0	-1,000	-648	-972	-344	-495	161,906	162,755	107,200	110,038	105,521	107,951	111,551	0	0	0	0	0	0
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	350,849	338,577	289,699	287,407	288,485	288,162	199,923	197,114	153,571	133,915	0	0	185,649	174,363	162,868	161,906	162,755	107,200	110,038	105,521	107,951	111,551	0	0	0	0	0	0
Capital Lease Obligations	123,397	124,992	124,825	78,181	78,154	78,117	77,970	77,899	77,808	77,685	87,716	87,611	59,613	59,530	59,478	59,428	80,677	59,278	59,162	41,697	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
Capital Stock	171,753	171,764	171,764	171,764	171,762	171,762	171,762	171,760	171,715	171,698	171,695	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
Capital Surpluse	0	589,291	589,030	588,712	587,884	588,707	588,012	587,474	525,030	500,889	496,111	482,483	472,747	464,632	460,339	457,804	455,680	430,193	394,269	389,547	357,353	350,849	338,577	289,699	287,407	288,485	288,162	199,923	197,114	153,571	133,915	113,105	102,906	64,027	59,831	51,877	51,472	51,179	1,650	1,473	1,247	1,010	767	1	0	0	0	0	0
Cash	30,166	32,662	34,054	33,817	48,139	54,700	69,731	32,910	35,247	28,038	43,493	24,762	40,998	73,579	70,979	48,096	39,232	44,195	23,109	15,577	21,254	17,732	12,279	15,804	19,959	19,721	18,587	10,039	21,942	23,890	19,984	18,810	26,989	15,191	27,356	31,479	25,883	17,101	16,271	13,444	18,882	9,775	14,737	4,101	9,400	8,420	0	0	13,449
Cash And Equivalents	0	32,662	34,054	33,817	48,139	54,700	69,731	32,910	35,247	28,038	43,493	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
Cash And Short Term Investments	30,166	32,662	34,054	33,817	48,139	54,700	69,731	32,910	35,247	28,038	43,493	24,762	40,998	73,579	70,979	48,096	39,232	44,195	23,109	15,577	21,254	17,732	12,279	15,804	19,959	19,721	18,587	10,039	21,942	23,890	19,984	18,810	26,989	15,191	27,356	31,479	25,883	17,101	16,271	13,444	18,882	9,775	14,737	4,101	9,400	8,420	0	0	0
Common Stock	668	679	679	679	677	677	677	675	630	613	610	599	591	579	570	565	563	549	528	523	500	496	488	452	449	449	449	377	374	342	328	310	300	262	258	251	250	250	193	193	192	192	192	0	0	0	0	0	0
Common Stock Shares Outstanding	88,346	89,438	89,548	88,500	88,341	88,341	88,331	67,695	82,280	61,083	60,409	59,422	79,171	57,934	77,941	67,919	76,762	53,463	52,451	50,926	52,029	49,194	47,989	45,132	46,133	44,934	44,932	37,622	37,490	51,512	32,825	31,095	30,076	25,958	25,855	25,084	25,023	25,019	19,250	32,825	19,163	19,164	18,605	16,699	16,699	16,699	16,699	16,699	0
Common Stock Total Equity	0	0	679	679	677	677	677	675	630	613	610	599	591	579	570	565	563	549	528	523	500	496	488	452	449	449	449	377	374	342	328	310	300	262	258	251	250	250	193	193	192	192	192	0	0	0	0	0	0
Current Deferred Revenue	21,414	23,127	18,311	16,736	17,515	15,736	15,075	15,054	4,881	2,674	4,137	3,062	6,088	7,085	9,320	6,311	5,306	3,333	1,789	3,622	3,037	1,767	1,711	2,235	3,591	5,232	6,780	9,823	10,167	6,560	2,893	3,177	2,224	2,512	1,683	1,206	1,053	3,420	1,227	1,134	1,541	2,270	3,258	5,037	4,236	0	0	0	0
Deferred Long Term Asset Charges	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
Deferred Long Term Liab	0	0	0	0	25,732	0	0	0	24,656	0	0	0	31,692	0	0	0	20,684	0	0	0	15,687	0	0	0	15,220	0	0	0	15,181	0	0	0	18,751	0	0	0	22,470	0	0	0	0	0	0	0	0	0	0	0	0
Earning Assets	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
Good Will	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
Intangible Assets	0	127,020	131,181	100,006	103,870	103,297	107,147	111,530	62,038	65,197	55,807	60,006	58,154	57,958	55,832	65,014	68,702	0	0	0	29,182	0	0	0	29,881	0	0	38,853	38,853	0	0	18,418	18,418	0	0	5,247	5,247	0	0	4,369	4,369	0	0	0	0	0	0	0	0
Inventory	0	-39,922	-24,922	-21,338	71,983	-30,430	-24,270	80,754	-18,345	68,762	0	0	1,165	0	0	0	1,460	0	0	929	929	727	1,287	315	-9,337	110	53	812	-10,131	419	5,829	2,731	40,232	289	53	27,882	8,538	40	1,287	1,184	-5,295	1,452	901	959	1,206	0	0	0	858
Liabilities And Stockholders Equity	2,562,898	2,533,084	2,471,054	2,232,015	2,242,310	2,187,571	2,265,535	2,251,955	1,938,063	1,984,384	1,920,458	1,933,981	1,916,971	1,841,272	1,798,866	1,846,090	1,804,897	1,761,059	1,730,027	1,359,254	1,265,382	1,217,858	1,132,371	1,101,789	1,043,123	1,030,998	1,014,338	992,904	982,468	931,845	894,472	809,983	689,547	694,093	633,056	604,001	590,906	579,412	516,115	483,890	434,354	406,851	399,307	333,313	331,813	0	0	0	0
Long Term Debt	1,123,838	1,321,792	1,264,643	1,190,370	1,068,261	1,104,952	1,128,093	1,137,467	917,556	968,424	964,396	1,008,118	1,013,666	942,334	1,012,006	1,056,778	1,003,919	943,371	949,345	779,914	745,035	699,291	621,165	631,150	564,717	536,769	523,837	579,851	573,310	565,196	551,143	504,549	429,660	420,145	429,571	397,994	401,628	375,612	384,471	344,318	305,884	273,518	261,848	351,018	266,183	0	0	0	340,137
Long Term Debt Total	0	1,412,735	1,367,020	1,190,370	1,104,968	1,104,952	1,128,093	1,170,644	948,722	990,502	982,866	1,008,118	1,013,666	942,334	1,012,006	1,056,778	1,003,919	979,887	987,143	779,914	745,035	699,291	621,165	631,150	564,717	536,769	523,837	579,851	573,310	565,196	551,143	504,549	429,660	420,145	429,571	397,994	401,628	375,612	384,471	344,318	305,884	273,518	261,848	351,018	0	0	0	0	0
Long Term Investments	142,031	125,672	102,371	93,080	71,983	64,470	53,260	20,777	12,685	9,174	6,999	4,967	2,243	0	0	0	1,460	0	0	0	23,132	16,811	14,538	12,821	11,411	11,169	10,950	10,794	10,235	10,360	0	0	40,232	0	0	27,882	8,538	0	0	0	0	0	0	0	0	0	0	0	0
Negative 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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Debt	1,509,217	1,414,122	1,355,414	1,157,619	1,165,407	1,110,224	1,180,107	1,257,635	960,117	1,018,071	1,008,619	1,037,996	982,460	872,460	942,252	1,017,949	970,682	958,454	985,398	763,741	672,985	636,018	568,167	573,830	497,313	468,888	446,704	512,355	500,238	490,103	488,336	448,501	350,604	404,954	359,515	349,593	333,346	318,691	333,569	303,827	258,863	237,581	229,599	329,527	326,177	-8,420	0	0	0
Net Invested Capital	1,798,502	1,321,792	1,264,643	1,113,255	1,068,261	1,041,576	1,543,502	1,137,467	917,556	968,424	964,396	975,147	1,315,959	1,234,691	1,296,929	1,340,203	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
Net Receivables	139,701	215,248	195,812	238,918	246,389	225,081	201,233	183,620	174,113	162,863	156,581	192,175	202,564	238,720	253,826	236,992	219,451	191,823	179,613	188,570	175,211	141,396	131,077	126,749	122,927	127,381	134,282	126,044	114,141	105,435	86,710	55,691	66,430	70,392	61,068	49,043	40,252	35,632	33,534	32,804	32,083	31,917	35,921	37,851	34,838	0	0	0	0
Net Tangible Assets	0	322,849	460,974	463,570	476,365	807,617	779,189	448,938	717,785	699,559	711,812	357,644	352,114	348,182	343,176	333,586	345,327	567,825	294,805	299,140	273,871	274,912	268,417	224,961	226,690	234,179	234,902	151,671	148,143	107,847	89,129	72,171	49,548	10,092	8,298	-1,939	-2,691	-2,266	-49,464	-47,884	-46,495	-44,993	-42,975	-376,053	0	0	0	0	0
Net Working Capital	-144,382	87,415	86,958	162,452	160,428	181,465	132,189	190,427	188,307	156,430	170,958	178,205	160,223	241,452	247,979	223,851	187,999	181,241	150,004	146,639	131,141	98,984	92,540	90,971	79,627	82,522	81,371	61,444	67,233	64,429	57,206	27,327	75,712	26,877	42,525	71,311	27,087	6,349	10,428	13,663	16,982	9,256	23,346	14,539	17,479	-11,590	0	0	0
Non Current Assets Total	2,233,478	2,282,831	2,239,145	1,956,661	1,944,056	1,902,925	1,872,210	1,948,095	1,642,756	1,719,306	1,710,635	1,707,218	1,662,812	1,523,328	1,469,929	1,556,310	1,540,407	1,521,630	1,524,453	1,150,796	1,065,191	1,055,814	985,876	955,734	897,280	880,701	858,330	853,172	843,134	799,049	778,791	729,056	553,072	604,267	541,542	491,571	512,009	510,177	463,086	429,910	382,157	362,193	345,532	286,959	280,543	263,335	0	0	0
Non Current Liabilities Other	23,920	56,818	54,973	148,732	54,055	147,404	228,220	54,952	55,876	62,197	57,725	149,524	122,603	126,834	117,209	128,832	122,422	63,637	59,508	82,128	46,203	40,912	41,000	40,170	39,352	41,181	39,889	39,107	39,209	39,517	45,315	40,193	25,471	79,509	22,833	36,284	17,961	17,979	16,474	16,264	15,873	15,736	12,991	11,254	0	0	0	0	0
Non Current Liabilities Total	1,283,918	1,503,602	1,444,441	1,245,251	1,200,470	1,173,244	1,209,760	1,270,318	1,051,240	1,108,306	1,109,837	1,121,609	1,080,360	1,006,258	1,061,642	1,135,449	1,072,959	1,066,286	1,068,015	819,749	740,442	694,662	621,446	629,804	556,624	531,790	507,180	563,501	561,389	553,510	547,255	501,131	403,064	445,495	409,704	400,014	377,190	353,771	366,314	333,535	293,618	263,498	257,327	344,239	339,363	283,195	0	0	0
Non Currrent Assets Other	1,929,663	104,275	81,962	1,694,691	1,697,575	1,665,587	1,641,983	1,745,637	45,927	42,051	40,358	38,054	43,324	1,408,861	1,357,353	1,434,316	1,414,487	1,464,174	1,466,770	1,118,554	1,013,806	1,039,003	971,338	942,913	855,988	869,532	847,380	842,378	794,046	788,689	778,791	729,056	534,654	604,267	541,542	491,571	506,762	510,177	463,086	429,910	377,788	362,193	345,532	286,959	280,543	-263,335	0	0	0
Noncontrolling Interest In Consolidated Entity	0	0	249,603	239,207	256,564	258,081	252,413	248,181	224,471	228,493	230,424	232,023	233,603	232,170	240,424	241,565	246,870	247,988	248,387	178,546	182,019	185,224	188,553	191,940	193,593	199,254	199,619	201,444	200,835	202,121	199,613	183,081	176,172	175,557	166,065	164,807	164,597	165,021	156,664	157,922	152,016	152,944	154,526	0	0	0	0	0	0
Other Assets	2,562,898	2,343	2,043	2,619	1,909,904	1,795,663	1,880,067	2,056,576	507,147	1,953,808	51,652	49,348	1,789,560	57,874	49,253	47,868	25,684	105,559	108,079	3,382	18,731	58,385	53,720	53,954	897,280	880,701	858,330	853,172	843,134	799,049	784,620	731,787	593,304	604,267	541,542	519,453	520,547	510,177	463,086	429,910	382,157	362,193	345,532	286,959	289,569	16,347	0	0	293,254
Other Current Assets	-169,867	-162,518	-137,623	-207,713	-68,257	-236,781	122,361	87,330	104,292	74,177	9,749	9,826	20,974	5,645	4,132	4,692	16,539	3,411	2,852	3,382	11,012	2,916	3,139	3,502	12,294	3,195	3,139	3,649	13,382	3,471	3,158	3,695	8,828	4,243	3,090	4,026	9,615	4,425	3,224	2,754	7,455	2,966	3,117	4,402	7,032	0	0	0	0
Other Current Liab	219,312	-206,127	-160,128	-111,130	-67,131	-45,231	-7,155	-33,815	26,220	60,021	0	0	-20,004	0	0	0	17,477	0	0	0	22,814	0	0	0	20,619	0	0	0	17,929	0	0	0	15,105	2,512	1,683	1,206	13,158	3,420	1,227	1,134	11,630	406	1,599	4,240	9,708	53,537	0	0	3,450
Other Liab	0	188,052	175,661	0	145,265	132,663	113,630	102,120	91,923	86,949	80,332	94,884	112,811	106,659	98,172	109,445	96,536	93,866	90,829	82,419	84,034	88,220	83,430	83,921	31,056	46,413	46,669	48,930	39,649	46,077	41,828	36,997	20,074	25,350	22,833	18,942	11,593	17,979	16,474	16,264	10,439	16,142	14,590	14,851	13,494	0	0	0	10,377
Other Stockholder Equity	580,687	608,842	838,633	827,919	844,448	846,788	840,425	835,655	749,501	729,382	726,535	714,506	706,350	696,802	700,763	699,369	702,550	678,181	642,656	389,547	357,353	350,849	527,130	289,699	481,000	288,485	487,781	199,923	397,949	355,692	333,528	296,186	102,906	64,027	59,831	51,877	216,069	63,256	1,650	6,451	319	1,010	767	-42,741	-41,341	-38,326	0	0	0
Preferred Stock Redeemable	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
Preferred Stock Total Equity	0	0	171,085	171,085	171,085	171,085	171,085	171,085	171,085	171,085	171,085	171,085	171,085	171,085	63,346	63,250	63,250	63,250	63,250	0	0	0	0	0	0	0	0	0	0	0	0	0	0	185,649	174,363	162,868	161,906	162,755	107,200	110,038	105,521	107,951	111,551	0	0	0	0	0	0
Property Plant And Equipment Gross	113,650	115,722	116,212	68,884	69,228	69,571	0	0	0	0	80,184	80,525	56,304	56,509	56,744	56,980	57,218	57,456	57,683	32,242	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
Property Plant And Equipment Net	23,085	115,722	116,212	68,884	69,228	69,571	69,820	70,151	70,482	70,813	80,184	80,525	56,304	56,509	56,744	56,980	57,218	57,456	57,683	32,242	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	263,335	0	0	0
Property Plant Equipment	0	1,925,864	1,807,419	1,618,667	1,682,840	1,643,286	1,629,766	1,755,143	1,515,812	1,591,590	1,596,177	1,523,666	1,503,952	1,364,468	1,321,470	1,399,912	1,381,586	1,415,949	1,361,021	1,055,574	987,811	980,256	916,232	887,697	829,916	811,921	788,385	779,785	908,287	726,667	712,565	667,294	633,591	555,620	499,713	459,379	478,901	477,768	438,271	404,111	357,748	338,994	321,675	262,682	0	0	0	0	0
Retained Earnings	-184,724	74,605	-142,233	-137,961	-126,875	-122,838	-135,942	-145,687	-141,360	-130,904	-124,697	-119,053	-112,356	-107,262	-107,263	-115,390	-106,676	-100,087	-95,490	-88,949	-82,699	-76,386	-70,648	-65,190	-61,166	-56,755	-55,709	-50,629	-49,345	-46,066	-45,114	-41,244	-53,010	-53,225	-51,447	-53,572	-54,413	-53,695	-51,307	-49,550	-47,934	-46,195	-43,934	0	0	0	0	0	0
Retained Earnings Total Equity	0	0	-142,233	-137,961	-126,875	-122,838	-135,942	-145,687	-141,360	-130,904	-124,697	-119,053	-112,356	-107,262	-107,263	-115,390	-106,676	-100,087	-95,490	-88,949	-82,699	-76,386	-70,648	-65,190	-61,166	-56,755	-55,709	-50,629	-49,345	-46,066	-45,114	-41,244	-53,010	-53,225	-51,447	-53,572	-54,413	-53,695	-51,307	-49,550	-47,934	-46,195	-43,934	0	0	0	0	0	0
Short Long Term Debt	273,127	206,127	160,128	111,130	67,131	45,231	91,204	75,179	15,144	0	0	0	20,004	0	0	0	0	0	0	0	0	0	580,446	589,634	517,331	488,609	465,291	522,394	523,009	0	0	0	378,675	0	0	0	356,356	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt Total	1,539,383	1,446,784	1,389,468	1,191,436	1,213,546	1,164,924	1,249,838	1,290,545	995,364	1,046,109	1,052,112	1,062,758	1,023,458	946,039	1,013,231	1,066,045	1,009,914	1,002,649	1,008,507	779,318	694,239	653,750	580,446	589,634	517,272	488,609	465,291	522,394	522,180	513,993	508,320	467,311	377,593	420,145	386,871	381,072	359,229	335,792	349,840	317,271	277,745	247,356	244,336	333,628	335,577	0	0	0	0
Short Term Debt	73,745	206,127	160,128	111,130	67,131	45,231	91,204	75,179	15,144	968,424	964,396	975,147	20,004	886,509	0	0	-17,477	0	0	0	-22,814	0	580,446	589,634	-20,619	488,609	465,291	522,394	-17,929	0	0	0	-15,105	0	0	0	-13,158	0	0	0	-11,630	-406	0	0	0	0	0	0	0
Short Term Investments	0	39,922	24,922	21,338	71,983	64,470	24,270	20,777	1,451,624	0	0	0	0	0	0	0	0	0	0	0	0	2,916	3,139	3,502	2,957	3,195	3,139	3,649	3,251	3,471	3,158	3,695	2,824	4,243	3,090	4,026	4,224	4,425	3,224	2,754	2,160	2,966	3,117	4,402	3,725	0	0	0	4,335
Temporary Equity Redeemable Noncontrolling Interests	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	185,649	174,363	162,868	161,906	162,755	107,200	110,038	105,521	107,951	111,551	0	0	0	0	0	0
Total Assets	2,562,898	2,533,084	2,471,054	2,232,015	2,242,310	2,187,571	2,265,535	2,251,955	1,938,063	1,984,384	1,920,458	1,933,981	1,916,971	1,841,272	1,798,866	1,846,090	1,804,897	1,761,059	1,730,027	1,359,254	1,265,382	1,217,858	1,132,371	1,101,789	1,043,123	1,030,998	1,014,338	992,904	982,468	931,845	894,472	809,983	689,547	694,093	633,056	604,001	590,906	567,335	516,115	478,912	435,282	406,851	399,307	333,313	331,813	326,305	0	0	340,134
Total Current Assets	329,420	250,253	231,909	275,354	298,254	284,646	393,325	303,860	295,307	265,078	209,823	226,763	254,159	317,944	328,937	289,780	264,490	239,429	205,574	208,458	200,191	162,044	146,495	146,055	145,843	150,297	156,008	139,732	139,334	132,796	115,681	80,927	136,475	89,826	91,514	112,430	78,897	57,158	53,029	49,002	53,125	44,658	53,775	46,354	51,270	46,623	0	0	0
Total Current Liabilities	473,802	162,838	144,951	112,902	137,826	103,413	169,439	113,433	107,000	111,322	43,002	51,620	79,809	83,577	90,278	72,240	76,491	58,188	55,570	61,819	69,050	63,060	53,955	55,084	66,216	67,775	74,637	78,288	72,101	68,367	58,475	53,600	60,763	62,949	48,989	41,119	51,810	50,809	42,601	35,339	36,143	35,402	30,429	31,815	33,791	58,213	0	0	0
Total Liab	1,757,720	1,666,440	1,589,392	1,358,153	1,338,296	1,276,657	1,379,199	1,383,751	1,158,240	1,219,628	1,152,839	1,173,229	1,160,169	1,089,835	1,151,920	1,207,689	1,149,450	1,124,474	1,123,585	881,568	809,492	757,722	675,401	684,888	622,840	599,565	581,817	641,789	633,490	621,877	605,730	554,731	463,827	508,444	458,693	441,133	429,000	404,580	408,915	368,874	329,761	298,900	287,756	376,054	373,154	364,631	0	0	377,533
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	460,136	456,970	416,901	420,283	431,433	432,521	351,115	348,978	309,968	288,742	0	0	185,649	174,363	162,868	161,906	162,755	107,200	110,038	105,521	107,951	111,551	0	0	0	0	0	0
Total Stockholder Equity	572,622	866,644	881,662	873,862	904,014	910,914	886,336	868,204	779,823	764,756	767,619	760,752	756,802	751,437	646,946	638,401	655,447	636,585	606,442	477,686	455,890	274,912	456,970	224,961	420,283	232,179	432,521	149,671	348,978	309,968	288,742	255,252	225,720	10,092	174,363	162,868	161,906	9,811	-49,464	-42,906	-47,423	-44,993	-42,975	-42,741	-41,341	-38,326	0	0	0
Treasury 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	0	0	0	0	0	0	0	-185,649	-174,363	-162,868	-161,906	-162,755	-107,200	-110,038	-105,521	-107,951	-111,551	0	0	0	0	0	0
Warrants	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	2,000	2,000	2,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

Cash Flow

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31
Begin Period Cash Flow	51,865	40,443	50,430	43,579	24,051	22,916	25,193	26,989	25,883	18,882	9,400	13,449	8,435	11,494
Capital Expenditures	24,650	213,006	48,625	63,485	258,602	168,385	75,451	163,098	46,755	100,196	47,324	4,972	7,377	12,483
Cash And Cash Equivalents Changes	0	11,422	-9,987	6,851	19,528	1,135	-2,277	-5,047	1,106	7,001	9,482	0	0	0
Cash Flows Other Operating	0	19,138	6,221	23,348	8,981	2,988	9,462	-21,470	-16,092	9,128	22,214	0	0	0
Change In Cash	-21,699	11,422	-9,987	6,851	19,528	1,135	-2,277	-5,047	1,106	7,001	9,482	-4,049	5,014	-3,059
Change In Working Capital	-24,350	-2,918	-7,606	-4,700	-13,763	-9,795	-2,448	9,382	-4,810	2,782	-781	1,363	7,147	-8,543
Change Receivables	0	-4,735	-2,440	-15,908	-12,947	-271	17,573	-6,385	-17,337	-5,893	-2,115	0	0	0
Change To Account Receivables	-13,909	-65,491	16,844	-15,908	-33,303	7,283	10,502	-9,607	-17,337	-5,893	0	0	0	0
Change To Inventory	-65,020	-72,785	15,563	-8,262	-22,855	0	0	0	0	0	0	0	0	0
Change To Liabilities	0	2,960	7,175	5,762	3,368	1,709	-17,606	18,950	14,990	10,095	-6,427	0	0	0
Change To Netincome	0	-60,764	1,411	-4,043	-2,399	-3,076	-6,635	1,572	-80	-484	-7,442	0	0	0
Change To Operating Activities	0	62,573	-24,450	13,510	19,540	-17,067	-19,682	16,204	12,707	8,675	0	0	0	0
Depreciation	97,984	55,658	52,571	44,257	38,216	30,395	25,974	23,453	18,678	14,984	12,806	11,601	11,708	10,978
Dividends Paid	-80,398	72,575	58,713	47,603	61,504	50,897	43,616	33,843	27,024	22,096	7,733	14,791	26,412	0
End Period Cash Flow	30,166	51,865	40,443	50,430	43,579	24,051	22,916	21,942	26,989	25,883	18,882	9,400	13,449	8,435
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	67,553	116,858	91,184	91,179	67,729	56,087	58,018	59,770	33,086	31,362	22,175	22,326	23,183	6,090
Investments	-228,115	-81,900	-15,458	-19,299	-52,289	-79,186	-102,426	-67,479	-14,545	-7,113	-3,756	0	0	0
Issuance Of Capital Stock	0	65,159	51,677	121,110	157,846	66,457	0	0	0	0	0	0	0	0
Net Borrowings	0	-53,481	-32,200	-123,308	150,889	174,268	1,924	128,523	5,631	53,891	-94,162	0	0	0
Net Income	8,287	99,953	25,455	36,959	32,258	23,492	29,925	42,755	31,183	12,759	14,453	8,907	2,647	4,081
Other Cashflows From Financing Activities	436,371	658,961	-7,137	-8,909	-5,915	-5,674	-12,221	-3,307	-2,555	-864	-68,834	13,420	51,527	20,484
Other Cashflows From Investing Activities	0	179,764	6,454	56,557	-109,329	-27,586	-18,728	-101,557	10,883	274	-2,893	0	0	0
Other Non Cash Items	220,159	-39,108	14,415	6,649	14,504	7,851	11,734	12,050	4,585	1,804	2,720	455	1,681	-426
Sale Purchase Of Stock	-13,541	65,159	161,806	278,079	488,287	349,580	162,585	316,852	214,407	117,645	106,054	0	0	0
Stock Based Compensation	3,677	3,273	2,230	2,378	1,613	1,281	1,323	1,082	931	917	1,249	0	0	0
Total Cash From Financing Activities	123,364	-72,194	-43,542	-58,101	246,862	185,611	42,131	161,644	24,401	80,945	35,254	-21,673	-12,171	5,566
Total Cash From Operating Activities	92,203	116,858	91,184	91,179	67,729	56,087	58,018	59,770	33,086	31,362	22,175	22,326	23,183	6,090
Total Cashflows From Investing Activities	0	-33,242	-57,629	-26,227	-295,063	-240,563	-95,355	-226,461	-56,381	-105,306	-47,947	0	0	0

	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	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31
Begin Period Cash Flow	35,005	36,097	36,436	51,865	59,565	76,412	39,486	40,443	33,453	53,242	34,588	50,430	79,224	75,111	52,788	43,579	47,606	25,961	18,959	24,051	20,648	15,418	19,306	22,916	19,721	18,587	10,039	21,942	23,890	19,984	18,810	26,989	15,191	27,356	31,479	25,883	17,101	16,271	13,444	18,882	9,775	14,737	4,101	9,400	8,420	7,521	3,790	13,449	0
Capital Expenditures	8,646	64,936	15,695	15,264	213,006	3,276	7,740	28,675	9,966	19,183	52,466	9,354	1,321	34,352	68,256	32,583	33,378	4,695	149,812	70,717	4,651	71,698	29,984	62,052	23,153	30,637	10,810	10,851	28,475	26,876	5,248	102,499	11,664	40,139	11,350	6,930	15,726	30,186	28,574	25,710	17,838	14,936	11,604	2,946	2,155	1,080	1,122	615	0
Cash And Cash Equivalents Changes	0	0	-339	-15,429	-7,700	-16,847	36,926	-957	6,990	-19,789	18,654	-15,842	-28,794	4,113	22,323	9,209	-4,027	21,645	7,002	-5,092	3,403	5,230	-3,888	-3,610	-56	1,134	8,548	-11,903	-1,948	3,906	1,174	-8,179	11,798	-12,165	-4,123	5,596	8,782	830	2,827	-5,438	9,107	-4,962	10,636	-5,299	0	0	0	0	0
Cash Flows Other Operating	0	0	1,291	-5,471	10,464	-639	-3,289	12,602	1,758	3,022	1,435	6	7,647	755	6,144	8,802	8,786	-6,537	3,024	3,708	9,676	1,402	-12,450	4,360	12,127	-4,531	1,097	769	5,036	-3,578	781	-23,709	-16,161	1,168	2	-1,101	11,060	-140	-481	-1,311	4,189	1,421	15,280	1,324	0	0	0	0	0
Change In Cash	-4,839	-1,092	-339	-15,429	-7,700	-16,847	36,926	-957	6,990	-19,789	18,654	-15,842	-28,794	4,113	22,323	9,209	-4,027	21,645	7,002	-5,092	3,403	5,230	-3,888	-3,610	3,195	1,134	8,548	-11,903	-1,948	3,906	1,174	-8,179	11,798	-12,165	-4,123	5,596	8,782	830	2,827	-5,438	9,107	-4,962	10,636	-5,299	980	899	3,731	-9,659	0
Change In Working Capital	-13,466	-2,501	-3,517	-17,725	5,367	-787	-9,290	1,792	-3,393	4,037	6,920	-15,170	1,257	-4,203	4,958	-6,712	-1,051	-4,857	-7,198	-657	9,445	480	-9,963	-9,757	6,538	1,127	-3,013	-7,100	7,130	6,686	-4,753	319	5,294	1,293	-3,528	-7,869	1,899	5,312	-1,017	-3,412	-3,210	5,549	-2,250	-870	7,420	-2,489	3,858	-7,426	0
Change Receivables	0	0	-2,836	-3,709	389	-1,098	-3,242	-784	-3,827	-2,580	6,081	-2,114	-2,741	-1,534	-4,409	-7,224	-5,829	421	-4,353	-3,186	6,876	-2,543	-8,086	3,482	13,508	10,560	6,642	-13,137	-522	-9,127	-1,593	4,857	11,690	-8,987	-11,489	-8,551	-1,595	-4,092	-97	-109	260	4,341	-3,707	-3,009	0	0	0	0	0
Change To Account Receivables	-4,112	-2,501	-29,611	-29,611	-25,396	-1,098	-3,242	-10,563	-9,872	-4,116	3,967	-2,114	-2,741	-13,167	-12,335	-5,854	-22,733	-7,173	291	-3,688	11,386	-3,942	-3,643	3,482	10,502	0	0	0	-9,607	0	0	0	-17,337	0	0	0	-5,893	0	0	0	0	0	0	0	0	0	0	0	0
Change To Inventory	-37,050	-2,896	-31,734	6,660	-24,384	-22,153	-16,538	-9,710	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
Change To Liabilities	0	0	3,225	-3,817	-229	5,618	2,352	-4,781	2,620	7,523	4,043	-7,011	2,406	424	7,083	-4,151	745	5,464	-2,702	-139	-322	4,004	13,037	-15,010	-8,167	-6,682	-7,770	5,013	5,897	18,732	-923	-4,756	-4,088	9,178	8,117	1,783	2,982	9,544	-439	-1,992	-4,793	1,039	-5,504	2,831	0	0	0	0	0
Change To Netincome	0	-1,969	-5,390	4,552	-2,529	-33,505	-21,716	-3,014	4,711	-1,006	1,252	-1,728	-1,179	-3,675	-2,234	3,045	-19	-4,321	771	1,170	-1,460	-659	-27	-930	-8,707	119	370	-194	-1,235	-289	378	2,718	12,711	136	-7,110	-5,817	-70	-559	234	-89	308	353	-7,717	-386	0	0	0	0	0
Change To Operating Activities	0	12,859	26,094	26,094	30,763	17,277	2,178	12,355	6,479	8,153	-16,672	-22,410	-2,028	-897	17,293	-858	21,682	2,316	-7,489	3,031	-1,941	4,422	-6,320	-13,239	-19,732	-9,433	-9,655	-12,113	16,204	-12,046	-3,830	0	12,707	0	0	0	8,675	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	35,689	17,395	15,495	14,391	14,055	13,435	14,252	13,916	13,305	13,590	12,888	12,788	12,252	10,898	10,450	10,657	10,855	10,486	9,132	7,743	8,991	7,864	6,767	6,773	6,589	6,455	6,457	6,473	6,398	5,950	5,637	5,468	4,680	5,048	4,750	4,200	4,373	3,815	3,318	3,478	3,324	3,307	3,330	2,845	3,204	2,504	2,906	2,987	0
Dividends Paid	-20,656	20,359	19,710	19,673	19,671	17,907	17,903	17,094	16,051	15,983	15,000	11,679	11,545	509	18,176	17,373	17,967	15,534	14,556	13,447	13,347	13,213	12,529	11,808	11,876	11,643	10,371	9,726	9,141	8,829	8,252	7,621	6,974	6,906	6,776	6,368	6,367	5,288	5,286	5,155	5,155	10,349	10,313	2,614	14,791	0	0	0	26,412
End Period Cash Flow	30,166	35,005	36,097	36,436	51,865	59,565	76,412	39,486	40,443	33,453	53,242	34,588	50,430	79,224	75,111	52,788	43,579	47,606	25,961	18,959	24,051	20,648	15,418	19,306	22,916	19,721	18,587	10,039	21,942	23,890	19,984	18,810	26,989	15,191	27,356	31,479	25,883	17,101	16,271	13,444	18,882	9,775	14,737	4,101	9,400	8,420	7,521	3,790	13,449
Exchange Rate Changes	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
Free Cash Flow	11,071	37,829	27,406	13,055	38,591	24,584	12,085	30,582	21,962	28,582	32,505	8,135	23,412	18,013	29,447	20,307	22,202	17,415	12,033	16,079	28,890	15,937	5,332	5,928	21,420	16,712	11,979	7,907	20,988	19,834	7,640	11,308	15,462	12,319	5,709	-404	10,070	12,295	5,784	3,213	3,987	11,338	2,563	4,287	13,867	1,854	9,028	-2,423	23,183
Investments	-59,939	-23,301	-34,783	-35,110	85,793	-16,296	-43,310	-108,087	56,757	-51,998	-2,032	-2,184	-9,637	10,527	-1,643	-18,546	-7,299	-8,273	-24,577	-12,140	-55,129	-9,436	-5,358	-9,263	-12,053	-6,048	-14,850	-4,041	-11,833	-12,311	-33,925	-9,410	-9,188	-1,323	-2,006	-2,028	-2,428	-942	-1,248	-2,495	-1,491	-742	-786	-737	0	0	0	0	0
Issuance Of Capital Stock	0	0	0	0	0	0	35	65,194	24,249	4,331	14,116	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
Net Borrowings	0	57,179	44,876	44,293	25,167	-125,743	-15,564	62,659	-63,945	33,029	-11,349	10,379	-22,804	-94,857	-60,277	54,630	5,836	-4,997	107,833	42,217	39,280	72,398	-9,434	72,024	28,267	28,493	-57,190	-49	7,868	11,675	19,559	89,421	-39,471	18,932	5,472	20,698	23,011	-24,194	55,792	-718	29,569	3,102	-125,380	-1,453	0	0	0	0	0
Net Income	-15,225	6,940	14,885	5,417	14,541	42,369	30,767	12,276	3,243	7,748	8,455	6,009	4,689	10,826	12,309	9,135	7,855	12,063	5,826	6,514	4,895	5,669	5,945	6,983	5,768	10,461	4,943	8,753	5,145	7,946	3,131	26,533	8,443	4,337	10,285	8,118	5,226	2,754	2,273	2,506	2,866	1,252	8,404	1,931	3,149	1,755	2,099	1,904	2,266
Other Cashflows From Financing Activities	-326	55,525	180,397	45,248	184,472	158,441	39,709	276,339	-3,317	-439	-1,132	-2,249	-8,049	-290	-33	-537	-2,346	-58	-2,344	-1,167	-573	-1,097	81,682	111,292	31,801	50,020	-4,681	-682	-275	-1,622	-695	-715	-311	-516	51,527	124,335	24,727	-77	33,293	23,116	41,879	15,478	185,481	-4,951	2,518	5,023	11,064	-5,185	8,890
Other Cashflows From Investing Activities	0	-112,391	-1,418	-970	179,764	147,702	100,787	-862	-3,067	1,433	13,537	-19,581	-1,389	-19,749	85,427	-7,732	-5,883	30,768	-107,847	-26,367	29,732	-26,562	3,292	-34,048	-3,889	-12,646	-319	-2,850	-18,193	-9,979	8,531	-81,916	25,888	-29,917	263	14,649	5,965	-1,145	-1,463	-3,083	-871	54	-1,831	-245	0	0	0	0	0
Other Non Cash Items	88,209	13,494	588	9,126	4,067	-27,754	-16,410	989	2,684	3,452	3,662	4,617	-5,425	3,952	4,196	3,926	8,542	3,359	1,013	1,590	1,588	1,823	2,143	2,297	2,827	2,955	2,965	2,987	3,317	2,977	3,000	2,756	1,737	1,586	928	557	445	173	806	394	561	800	-6,921	381	94	84	165	112	0
Sale Purchase Of Stock	-12,632	-1	-427	-149	65,159	-130	-36	65,194	101,864	40,823	1,529	17,590	95,615	107,701	12,159	62,604	78,129	57,765	252,066	100,327	75,153	127,179	46,455	-5	229	96,044	28,954	44,952	26,747	104,866	40,555	144,684	14,140	26,273	3,314	0	-96	35,722	-94	-149	-333	-1,942	200,170	-2,587	0	0	0	0	0
Stock Based Compensation	726	900	291	1,846	561	597	506	1,609	400	390	423	1,017	471	456	421	1,030	274	322	328	689	209	252	271	549	276	215	421	411	218	212	215	437	176	173	203	379	197	198	193	329	237	243	0	0	0	0	0	0	0
Total Cash From Financing Activities	40,076	35,166	24,151	22,860	4,497	-149,203	-33,573	106,085	-58,696	21,377	-13,365	7,142	-29,852	7,625	-73,946	38,072	12,940	13,514	161,776	58,632	31,518	69,733	24,149	60,211	11,465	16,850	20,279	-6,463	15,844	22,364	31,820	91,616	-7,938	15,999	2,010	14,330	16,548	20,007	27,143	17,247	23,852	-1,418	19,224	-6,404	-10,108	-307	-4,600	-6,658	0
Total Cash From Operating Activities	19,717	37,829	27,406	13,055	38,591	27,860	19,825	30,582	21,962	28,582	32,505	8,135	23,412	18,013	29,447	20,307	22,202	17,415	12,033	16,079	28,890	15,937	5,332	5,928	21,420	16,712	11,979	7,907	20,988	19,834	7,640	11,308	15,462	12,319	5,709	-404	10,070	12,295	5,784	3,213	3,987	11,338	2,563	4,287	13,867	1,854	9,028	-2,423	23,183
Total Cashflows From Investing Activities	0	-177,327	-51,896	-51,344	-33,242	104,496	50,674	-137,624	43,724	-69,748	-486	-31,119	-22,354	-21,525	66,822	-49,170	-39,169	-9,284	-166,807	-79,803	-57,005	-80,440	-33,369	-69,749	-32,941	-32,428	-23,710	-13,347	-38,780	-38,292	-38,286	-111,103	4,274	-40,483	-11,842	-8,330	-17,836	-31,472	-30,100	-25,898	-18,732	-14,882	-11,151	-3,182	0	0	0	0	0

Income Statement

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31
Cost Of Revenue	575,198	299,957	156,446	266,568	150,831	112,233	222,540	184,908	192,330	121,164	97,962	67,650	89,487	98,324
Depreciation And Amortization	97,984	74,084	69,875	75,520	54,941	39,913	37,321	35,328	23,153	17,569	14,898	11,601	11,708	10,978
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	66,709	81,151	62,696	48,741	63,107	41,229	39,683	31,972	28,576	21,510	20,536	26,776	25,515	23,469
Ebitda	164,693	155,235	132,571	124,261	118,048	81,142	77,004	67,300	51,729	39,079	35,434	38,377	37,223	34,447
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	0	-200	0	0	0	0	0	0	0
Gross Profit	92,517	154,196	127,630	117,066	106,367	81,084	80,231	73,477	60,110	46,903	42,074	40,832	40,693	36,802
Income Before Tax	8,992	99,808	24,713	36,676	31,767	23,463	30,650	43,098	31,149	12,829	14,726	8,907	2,647	4,081
Income Tax Expense	1,329	-145	-742	-283	-491	-29	725	343	-34	70	273	18,656	20,059	19,893
Interest Expense	53,600	39,680	33,905	31,035	31,344	19,087	17,439	16,466	13,333	10,648	12,303	16,561	18,134	18,208
Interest Income	15,103	14,004	18,457	19,841	23,215	10,729	7,077	3,228	13,436	0	0	0	0	0
Minority Interest	-8,037	-5,948	5	7,807	8,205	4,462	4,462	14,681	11,541	5,068	-5,097	0	0	0
Net Income	8,287	74,747	21,892	29,152	32,045	17,203	21,047	42,755	31,183	12,759	14,453	8,897	2,266	3,744
Net Income Applicable To Common Shares	0	82,457	13,912	21,803	21,598	23,492	29,925	28,074	19,642	7,691	7,336	8,907	2,647	0
Net Income From Continuing Ops	43,266	99,953	25,455	30,930	25,099	23,492	29,925	28,074	31,183	12,759	14,453	0	0	0
Net Interest Income	-35,330	-22,702	-15,448	-11,194	-8,129	-8,358	-10,362	-13,238	0	0	0	0	0	0
Non Operating Income Net Other	0	5,702	-1,326	-615	-2,741	-202	9,295	-876	-622	-113	7,370	0	0	0
Non Recurring	0	453	21,490	1,250	1,096	1,971	758	1,918	1,976	244	580	0	0	0
Operating Income	66,709	81,151	62,696	48,741	63,107	32,023	31,717	26,679	26,584	21,379	19,659	24,691	23,971	22,121
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	601,006	390,358	240,139	340,287	218,164	163,577	270,296	229,788	223,880	146,444	119,797	83,791	106,209	113,005
Preferred Stock And Other Adjustments	0	11,548	11,548	7,349	2,455	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	61,846	74,084	69,875	44,257	38,216	30,395	25,974	0	0	0	0	0	0	0
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	18,122	15,691	14,610	12,905	12,392	11,431	10,435	9,552	8,397	7,711	6,937	3,232	3,728	2,523
Tax Provision	829	-145	-742	-283	-491	-29	725	343	-34	0	0	0	0	0
Total Operating Expenses	25,808	90,401	83,693	73,719	67,333	51,344	47,756	44,880	31,550	25,280	21,835	16,141	16,722	14,681
Total Other Income Expense Net	-57,717	18,657	-37,983	-12,065	-31,340	2,081	8,537	27,739	15,796	1,854	6,790	777	-3,190	168
Total Revenue	667,715	454,153	284,076	383,634	257,198	193,317	302,771	258,385	252,440	168,067	140,036	108,482	130,180	135,126

	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	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31
Cost Of Revenue	179,625	116,718	118,378	99,542	111,670	84,453	61,940	41,894	36,941	34,204	34,888	50,413	67,934	71,492	67,884	59,258	52,704	40,550	31,601	26,139	22,322	28,916	29,344	31,651	41,086	48,900	62,781	69,773	57,251	45,464	39,478	42,715	47,261	58,637	51,873	34,559	36,896	36,362	24,602	23,304	22,849	26,064	27,150	21,899	16,413	17,544	15,654	18,039	106,209
Depreciation And Amortization	35,689	22,887	20,225	18,863	18,386	17,805	19,058	22,085	16,893	17,164	17,563	18,255	17,886	14,323	13,923	14,426	15,837	15,559	13,478	9,904	11,260	7,864	9,179	6,773	9,303	6,455	9,304	6,473	9,692	8,885	8,602	8,149	6,162	5,048	5,766	4,908	4,976	4,567	3,318	3,969	3,786	3,933	3,330	2,845	3,204	2,504	2,906	2,987	0
Discontinued Operations	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
Ebit	-4,141	21,489	23,352	20,338	24,799	20,305	19,007	13,790	16,875	16,523	16,213	12,965	12,919	14,464	17,333	18,987	16,721	16,844	15,389	14,153	10,619	12,343	10,394	12,710	9,323	12,828	10,364	12,954	8,653	8,411	7,912	6,996	7,755	9,533	7,223	5,334	5,676	5,634	5,719	5,220	5,959	5,051	4,370	6,160	7,600	6,143	6,642	6,391	0
Ebitda	31,548	44,376	43,577	39,201	43,185	38,110	38,065	35,875	33,768	33,687	33,776	31,220	30,805	28,787	31,256	33,413	32,558	32,403	28,867	24,057	21,879	20,207	19,573	19,483	18,626	19,283	19,668	19,427	18,345	17,296	16,514	15,145	13,917	14,581	12,989	10,242	10,652	10,201	9,037	9,189	9,745	8,984	7,700	9,005	10,804	8,647	9,548	9,378	0
Effect Of Accounting Charges	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
Extraordinary Items	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
Gross Profit	11,527	49,293	47,561	44,633	39,934	38,314	38,557	37,391	32,983	32,858	30,898	30,891	30,577	26,761	29,429	30,299	28,869	29,308	26,221	21,806	21,114	19,964	19,908	20,098	19,211	19,397	20,645	20,978	19,740	18,393	17,973	17,371	15,819	16,488	15,101	12,702	12,685	11,883	11,212	11,123	11,516	10,731	10,372	9,455	11,100	9,405	10,338	9,989	27,699
Income Before Tax	-20,567	8,733	15,221	5,605	14,536	42,550	30,747	11,975	3,023	7,706	7,994	5,990	4,626	10,798	12,374	8,878	7,703	11,864	5,796	6,404	5,418	5,549	5,779	6,717	5,712	10,490	5,393	9,055	5,248	7,962	3,137	26,751	8,326	4,455	10,281	8,087	5,161	2,711	2,302	2,655	3,276	1,326	8,193	1,931	3,149	1,755	2,099	1,904	2,647
Income Tax Expense	495	310	336	188	-5	181	-20	-301	-220	-42	-461	-19	-63	-28	65	-257	-152	-199	-30	-110	523	-120	-166	-266	-56	29	450	302	103	16	6	218	-117	118	-4	-31	-65	-43	29	149	410	74	-211	4,496	4,695	4,534	4,696	4,731	0
Interest Expense	16,435	15,444	13,629	12,302	10,933	10,345	9,371	9,031	8,685	8,827	8,418	7,975	8,097	7,523	7,227	8,188	8,799	9,056	7,603	5,886	5,540	4,677	4,497	4,373	4,157	4,253	4,494	4,535	4,573	4,124	3,978	3,791	3,411	3,518	3,358	3,046	2,671	2,734	2,678	2,565	2,501	2,598	3,289	3,915	4,043	4,174	4,217	4,127	18,134
Interest Income	4,280	12,978	8,624	14,749	6,568	3,490	3,352	3,568	3,829	3,766	6,746	4,116	3,786	2,788	4,412	7,226	6,593	5,710	5,593	1,757	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
Minority Interest	5,837	-193	-269	708	-137	13,492	6,607	-100	5	1,237	230,424	811	440	2,217	3,007	2,143	1,565	5,510	1,260	1,630	1,253	1,467	1,626	1,943	1,616	2,973	1,472	2,817	1,687	2,734	1,097	9,163	3,115	1,649	3,764	3,013	3,836	1,139	-948	1,041	-1,161	-507	-3,429	0	0	0	0	0	0
Net Income	-15,225	6,940	8,976	4,709	8,830	36,786	30,639	12,176	3,248	7,748	8,455	6,009	4,738	10,871	12,353	9,227	8,282	11,103	6,146	4,884	3,642	4,202	4,319	5,040	4,152	7,488	3,471	5,936	5,145	7,946	3,131	26,533	8,443	2,688	10,285	8,118	5,226	2,754	1,325	2,506	2,866	1,252	4,975	1,931	3,149	1,755	2,110	1,883	2,266
Net Income Applicable To Common Shares	0	4,053	8,976	1,822	8,830	33,899	30,639	7,106	361	4,861	5,568	2,311	1,362	6,389	8,127	5,925	5,223	9,869	4,412	4,884	3,642	4,202	4,319	5,040	4,152	7,488	3,471	5,936	3,458	5,212	2,034	17,370	5,328	2,688	6,521	5,105	3,286	1,615	1,325	1,465	-226	745	4,886	1,931	3,149	1,755	2,099	1,904	2,647
Net Income From Continuing Ops	-21,062	8,423	14,885	5,517	14,541	27,245	22,960	12,276	3,243	7,748	8,455	4,327	3,928	8,359	9,707	8,936	5,883	12,063	5,826	5,117	498	4,219	5,945	6,983	-3,110	10,461	4,943	8,753	-5,705	5,212	2,034	26,533	16,280	3,073	6,434	5,396	5,226	2,754	2,273	2,506	2,866	1,252	8,404	1,931	0	0	0	0	0
Net Interest Income	-12,155	-15,444	-13,629	-12,302	-4,365	-6,855	-6,019	-5,463	-4,856	-5,061	-1,672	-3,859	-4,311	-3,106	-2,815	-962	-2,206	-3,346	-2,010	-567	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
Non Operating Income Net Other	0	0	5,173	-2,354	674	-1,223	1,998	4,253	-2,245	26	321	572	288	495	280	-1,678	486	-168	-1,929	-1,130	-1,680	352	43	1,083	8,841	161	-38	331	1,316	451	-330	-2,313	-13,437	-37	7,014	5,838	-90	59	-194	112	-181	-1,236	8,520	267	0	0	0	0	0
Non Recurring	0	0	18	102	83	0	312	58	18,257	8	115	3,110	490	73	502	185	546	93	57	400	1,708	72	107	84	231	80	396	51	248	494	437	739	903	288	614	171	55	189	0	0	47	0	533	0	0	0	0	0	0
Operating Income	-4,141	22,342	23,777	20,338	24,799	20,305	19,007	13,790	9,616	12,124	9,733	9,222	8,678	13,376	14,792	11,895	9,423	15,378	9,735	8,101	9,061	7,329	7,858	7,775	7,004	7,980	8,267	8,466	7,112	6,858	6,710	5,999	6,654	8,010	6,625	5,295	5,711	5,386	5,174	5,108	5,958	5,160	2,962	5,579	6,948	5,783	6,152	5,808	23,971
Other Items	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
Other Operating Expenses	195,293	144,585	142,755	123,812	133,336	106,070	84,910	66,042	56,979	54,200	56,326	72,634	89,372	88,383	84,678	77,854	71,604	59,086	48,030	39,444	36,921	41,479	41,287	43,890	53,062	60,237	74,763	82,234	69,631	56,505	50,304	53,348	55,523	66,827	59,735	41,795	43,815	42,670	30,640	29,319	28,360	31,635	34,027	25,775	20,565	21,166	19,840	22,220	0
Preferred Stock And Other Adjustments	0	0	2,887	2,887	2,887	2,887	2,887	2,887	2,887	2,887	2,887	2,887	2,887	2,220	1,175	1,067	1,067	1,234	154	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
Reconciled Depreciation	17,020	22,887	20,225	18,745	18,386	17,805	14,252	18,835	16,893	17,164	17,563	18,255	12,252	10,898	10,450	10,657	10,855	10,486	9,132	7,743	8,991	7,864	6,767	6,773	6,589	6,455	6,457	6,473	6,398	5,950	5,637	5,468	4,680	5,048	4,750	4,200	4,373	3,815	3,318	3,478	3,324	3,307	3,330	2,845	3,204	2,504	2,906	2,987	0
Research Development	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
Selling And Marketing Expenses	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
Selling General Administrative	4,336	4,286	4,052	5,448	3,512	3,854	3,617	4,708	3,653	3,449	3,487	4,021	3,523	2,601	2,988	3,793	3,063	2,977	2,951	3,401	3,339	2,367	2,764	2,961	2,673	2,098	2,678	2,986	2,688	2,156	2,224	2,484	2,100	1,873	2,096	2,328	1,943	1,741	1,981	2,046	1,725	1,638	2,857	717	540	904	954	834	3,728
Tax Provision	495	310	336	188	-5	181	-20	-301	-220	-42	-461	-19	-63	-28	65	-257	-152	-199	-30	-110	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
Total Operating Expenses	15,668	27,867	24,377	24,270	21,666	21,617	22,970	24,148	20,038	19,996	21,438	22,221	21,438	16,891	16,794	18,596	18,900	18,536	16,429	13,305	14,599	12,563	11,943	12,239	11,976	11,337	11,982	12,461	12,380	11,041	10,826	10,633	8,262	8,190	7,862	7,236	6,919	6,308	6,038	6,015	5,511	5,571	6,877	3,876	4,152	3,622	4,186	4,181	0
Total Other Income Expense Net	-16,426	2,751	5,666	-14,733	-10,263	22,245	11,740	-1,815	-5,066	-95	206	1,179	-202	4,034	2,554	-1,863	-60	4,438	-1,986	-1,530	866	280	-64	999	523	4,773	-434	3,675	1,161	3,710	-754	23,622	4,054	-325	6,400	5,667	2,066	-130	-194	112	-228	-1,236	7,987	267	244	146	164	223	0
Total Revenue	191,152	166,011	165,939	144,175	151,604	122,767	100,497	79,285	69,924	67,062	65,786	81,304	98,511	98,253	97,313	89,557	81,573	69,858	57,822	47,945	43,436	48,880	49,252	51,749	60,297	68,297	83,426	90,751	76,991	63,857	57,451	60,086	63,080	75,125	66,974	47,261	49,581	48,245	35,814	34,427	34,365	36,795	37,522	31,354	27,513	26,949	25,992	28,028	130,180

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

Gross Profit (+$)
totalRevenue	667,715
Cost of Revenue	-575,198
Gross Profit	92,517	92,517

Operating Income (+$)
Gross Profit	92,517
Operating Expense	-25,808
Operating Income	66,709	66,709

Operating Expense (+$)
Research Development	0
Selling General Administrative	18,122
Selling And Marketing Expenses	0
Operating Expense	25,808	18,122

Net Interest Income (+$)
Interest Income	15,103
Interest Expense	-53,600
Other Finance Cost	-3,167
Net Interest Income	-35,330

Pretax Income (+$)
Operating Income	66,709
Net Interest Income	-35,330
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	8,992	124,426 EBIT - interestExpense = 13,109 9,616 61,887
Interest Expense	53,600
Earnings Before Interest and Taxes (EBIT)	66,709	62,592
Earnings Before Interest and Taxes (EBITDA)	164,693

After tax Income (+$)
Income Before Tax	8,992
Tax Provision	-829
Net Income From Continuing Ops	43,266	8,163
Net Income	8,287
Net Income Applicable To Common Shares	0

Non-recurring Events
Discontinued Operations	0
Extraordinary Items	0
Effect of Accounting Charges	0
Other Items	0
Non Recurring	0
Other Operating Expenses	601,006
Total Other Income/Expenses Net	-57,717	35,330

Technical Analysis of Armada Hflr Pr
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 Armada Hflr Pr. The general trend of Armada Hflr Pr is BEARISH with 28.6% 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 Armada Hflr Pr'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 transitions	Bullish trend (-28.6%)		Bearish trend (28.6%)
Overbought to neutral	Bullish pullback	=	Bearish reversal
Upper to lower neutral	Bullish correction	=	Bearish continuation
Nuetral to oversold	Oversold	=	Oversold
Oversold to neutral	Bullish reversal	=	Bearish correction
Lower to upper neutral	Bullish continuation	=	Bearish pullback
Nuetral to overbought	Overbought	=	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 Armada Hflr Pr.

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

Around resistance: The price is trading arround resistance levels. This can be considered as a potential exit level. -1

The bullish price targets are: 10.84 < 10.95 < 11.76.

The bearish price targets are: 10.03 > 10.02 > 9.822105.

Tweet this

Armada Hflr Pr 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 Armada Hflr Pr. The current mas is .

The long score for the Moving Averages is 5/14.
The longshort score for the Moving Averages is -4/(-14 +14).

MA 20 trending up: The MA 20 is trending up. +1
Close > MA 20: The price is above 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 above 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 higher 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 Average	Amount of candles	vs. MA 50	vs. MA 100	vs. MA 200
MA 20	20
MA 50	50	-
MA 100	100	-	-
MA 200	200	-	-	-

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

Shows the moving average of the selected period.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

There are various kinds of moving averages:

Simple moving average (SMA);
Exponential moving average (EMA);
Smoothed moving average (SMMA);
Linear weighted moving average (LWMA).

The moving average looks at a certain period of time and it calculates the price average. The various types of averages are using various formulas. Don’t worry, you don’t have to memorize any formula. All moving averages are calculated automatically by basically every charting software you use. But it’s good to know how moving averages are actually calculated.

Simple moving average

SMA is calculated by summing up the price closures of the selected period. The price is then divided by the selected period. For example, when using the 21 day moving average you sum up all the closing prices for each day and divide that by 21. The result is a line on the chart representing the average. Because it’s an average in the selected timeframe, the trend is always lagging. An moving average looks like this on the chart:

Source: Tradingview.com

In this case, the blue line represents a 21 day moving average. Because the average is based on results from the past, the indicator will always lag behind. For example, when price would suddenly go up, the moving average won't immediately follow.

All other moving averages discussed below look the same on the chart. The only difference is that the line will move in different directions based on the maths behind the used indicators and the amount of days used to determine the average.

Exponential moving average

The EMA gives more weight to the latest closing prices by giving them more value in the equation. EMA is calculated by adding a certain percentage to the latest closing prices:

EMA = (CLOSE (i) * P) + (EMA (i - 1) * (1 - P))

Where:

CLOSE (i) = current period close price.
EMA (i - 1) = value of the Moving Average of a preceding period.
P = the percentage of using the price value.

Smoothed moving average

A smoothed moving average is an exponential moving average with a long lookback period. Older prices are reduced in weight but are never left out in the calculation. Unlike SMA and EMA where prices are removed when they are beyond the selected period. SMMA is a combination of the SMA and EMA. The main advantage is that it smooths out fluctuations in price.

Linear weighted moving average

The LWMA gives the latest price the highest weight and then lineary scales down with each price before that. The result is that the LWMA reacts quicker to changes in price than the SMA or EMA. The formula:

LWMA = ((Pn∗W1)+(Pn−1∗W2)+(Pn−2∗W3)...) / ∑W

Where:

P = Price for the period.
n = The most recent period, n-1 is the prior period, and n-2 is two periods prior.
W = The assigned weight to each period, with the highest weight going first and then descending linearly based on the number of periods being used.

Moving averages are widely used by many traders. Which moving average you need depends on your trading strategy. Common practise is using a combination of multiple periods. For example, the EMA21, EMA50, EMA100 and EMA200. How does that look on a chart:

Source: Tradingview.com

The lowest (purple) line on the chart represents the EMA200 then following up the EMA100, EMA50 and EMA21.

You can use moving averages to determine a trend. The 200 moving average is mostly used as a baseline for determining the current trend:

When the 200 moving average is moving up it is considered a bullish trend.
When the 200 moving average is down it is considered a bearish trend.
When moving averages are flatlined, there is no clear trend so you should look for market structure, consolidation or trend reversals. Depending on how you want to trade.

This is not set in stone. Most trading strategies use multiple moving averages each with different settings. While one strategy might use the EMA20, the other uses the SMA21. There can be hundreds of different variations. Moving averages can also be used as support and resistance. More often than not, prices will bounce on moving averages.

Armada Hflr Pr 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 Armada Hflr Pr. The current macd is 0.00927604.

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

MACD line > signal line: The MACD line is above the signal 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 Armada Hflr Pr price going up in the near term. +2
MACD > 0: The MACD is above the zero line (centerline), it indicates a bullish signal for Armada Hflr Pr. This means that the short-term moving average is higher than the long-term moving average, signaling positive momentum and suggesting a higher likelihood of the Armada Hflr Pr price continuing to rise in the near future. It indicates that buyers are gaining control, and there is optimism in the market, leading to potential price increases. +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

Armada Hflr Pr 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 Armada Hflr Pr. The current adx is 19.38.

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

PLUS_ID > MINUS_DI: The +DI line is above the -DI line. This indicates a bullish signal in the market, as the positive directional movement is currently stronger than the negative directional movement, showing that buyers have the upper hand. Market psychology suggests that traders are optimistic, expecting further price increases, and are more willing to buy Armada Hflr Pr shares, leading to potential upward 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 bullish trend could be forming. +1

Armada Hflr Pr 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 Armada Hflr Pr. The current sar is 10.04.

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

Close > SAR: The price is above the SAR. It's generally considered a bullish signal. +1

Armada Hflr Pr 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 Armada Hflr Pr. The current rsi is 57.27. The current phase is Correction in bear market.

The long score for the Relative Strength Index (RSI) is 3/13.
The longshort score for the Relative Strength Index (RSI) is 2/(-13 +13).

Correction in bear market: Extended price decline in a downtrend, significant pullback. Consider reducing exposure, wait for signs of trend reversal.
Trending down: The RSI is trending down. -1

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

The RSI measures the magnitude of recent price changes to determine if the asset is overbought or oversold.

Overbought (RSI above 70) means that the trading price is above its intrinsic value. This might indicate a sell or short signal.
Oversold (RSI below 30) means that the trading price is below its intrinsic value. This might indicate a buy or long signal.
RSI levels above or below 50 can also be used to determine a trend.
RSI divergence looks at a deviation between RSI and price movement.
Can be used in many different ways.

Original usage

Keep in mind that almost every indicator can be used in different ways. Even beyond the orginal settings. The relative strength index was developed by J. Welles Wilder. Wilder recommended a smoothing period of 14 days. That means a 14 day moving average (read more about this setting below). Another quote from the wikipedia page:

Wilders also considers the RSI 50 line as both support and resistance. I recommend to always read the original settings first before using an indicator. Many traders and websites are using their own version of the indicator which might be confusing.

How you can use RSI (Divergence)

First and foremost, there is no real right or wrong usage of the RSI indicator. You can use it in any way you want. Wilder recommends using a 14 day average but you can make it 50 or 100 if you like. Just keep in mind that using an indicator is just part of a larger trading plan. In other words, it’s not recommended to do any trading or investing based on a single indicator like the RSI.

The RSI is measured on a scale between 0 and 100. From 30 till 0 is considered oversold. and from 70 -100 is overbought. The RSI is a leading indicator, meaning the signals are instant.

I like to use the RSI as a trend\momentum indicator and not as an overbought or oversold indicator. I use the middle (50) as the baseline. When prices go above RSI 50 the trend is bullish and can indicate long positions. When below 50 it is considered bearish and can indicate short positions. Other traders use the 70 and 30 levels as overbought/oversold depending on the used strategy. The RSI indicator looks like this:

Source: Tradingview.com

The general concensus is that an RSI above 70 indicates that the security is overbought. In other words, the price this security is trading for is to high and should come down. So if RSI hits 70 or above this might indicate a sell signal or taking a short position (expecting the price will go down). Although RSI above 70 indicates the security is trading above it's fair value, that does not mean the price will go down.

Use tradingview to add indicators

I highly recommend using tradingview to add indicators to a chart. It has all the indicators you can think off and can add them for free (up to three indicators) to any chart you want. You can see that the levels 30 and 70 are marked with a dotted line. If you want you can remove these lines or give it another colour using Tradingview. You can also adjust the moving average used. You can also find RSI indicators made by the community that include other settings like RSI divergences.

Tradingview

Use Tradingview to (back)test your strategies and add hundreds of indicators created by the community.

View tool on Tradingview.com

RSI divergence

RSI is not only used to determine momentum but can also spot reversals or continuations of the trend. A reversal means that the trend is going in the opposite direction. From bullish to bearish or from bearish to bullish. These reversals can be spotted by looking at the price and the direction of the RSI. When the price is going up but the RSI is going down that means there is a divergence. This is also the case when RSI goes up but price is going down.

There are four types of divergences:

Regular bullish divergence
Regular bearish divergence
Hidden bullish divergence
Hidden bearish divergence

Regular bullish divergence

With a regular bullish divergence, the price is making lower highs but the oscillator (in this case the RSI) is making higher lows. A regular bullish divergence might indicate the end of the current trend. You’ll see regular bullish divergences mostly at the end of a downtrend. But that does not mean that every regular bullish divergence is a trend reversal.

Price is making lower highs
RSI is making higher lows
Indicating bullish reversal (price might go up)

Source: Tradingview.com

Regular bearish divergence

With a regular bearish divergence the price is making higher highs but the oscillator (in this case the RSI) is making lower highs. This might indicate the end of an uptrend.

Price is making higher highs
RSI is making lower highs
Indicating bearish reversal

Source: Tradingview.com

Hidden bullish divergence

With a hidden bullish divergence, the price is making a higher low while the RSI is making a lower low. This might indicate bullish trend continuation.

Price is making higher lows
RSI is making lower lows
Indicating bullish continuation

Source: Tradingview.com

As you have noticed, you can have multiple divergences in a row.

Hidden bearish divergence

With a hidden bearish divergence, price is making lower highs but RSI is making higher highs. This might indicate bearish trend continuation.

Price is making lower highs
RSI making higher highs
Indicating bearish continuation

Source: Tradingview.com

You can find many cheatsheets of RSI divergences online. Search for "RSI divergence overview" and you'll find a lot of examples. You can print these to learn the various types of divergences.

Armada Hflr Pr 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 Armada Hflr Pr. The current phase is Correction 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 above 50. There are more buyers than sellers. +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 Armada Hflr Pr price going up in the near term. +2
Trending down: The STOCH %K is trending down. -1

Armada Hflr Pr 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 Armada Hflr Pr. The current cci is 165.64.

The long score for the Commodity Channel Index (CCI) is 1/1.
The longshort score for the Commodity Channel Index (CCI) is 1/(-1 +1).

CCI > 100: The CCI is above 100, it indicates that the price is significantly above its average, suggesting a potential overbought condition. +1

Armada Hflr Pr 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 Armada Hflr Pr. The current cmo is 24.87.

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

CMO > 0: The CMO is above 0, the momentum of the price is positive, indicating a potential uptrend in the price. +1

Armada Hflr Pr 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 Armada Hflr Pr. The current willr is -22.98850575.

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 Armada Hflr Pr is trading in a neutral price range, neither oversold nor overbought, suggesting a balanced market condition without any extreme price signals.

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 Armada Hflr Pr.

Armada Hflr Pr 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 Armada Hflr Pr. The current atr is 0.23942678.

Armada Hflr Pr 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 Armada Hflr Pr. The current obv is 2,264,489.

Armada Hflr Pr 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 Armada Hflr Pr. The current mfi is 65.29.

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

MFI > 50: +1

Armada Hflr Pr Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for Armada Hflr Pr.

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.

Date	Indicator	Signal
2023-11-30	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2023-12-01	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-05	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-06	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-08	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2023-12-11	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-13	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-14	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-15	STOCH	LONG EXIT		The %K line crosses below the %D line.
	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2023-12-19	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-20	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-22	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-27	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-28	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-29	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-01-03	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-01-05	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-08	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2024-01-09	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-11	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-12	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-16	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-17	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-01-18	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-19	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2024-01-22	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-23	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-24	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-01-25	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-26	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-01-29	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-30	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-01-31	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-02-01	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-02	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-06	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-12	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2024-02-13	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %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
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-15	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-16	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-02-21	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-22	STOCH	LONG EXIT		The %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
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-26	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2024-02-27	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-29	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-01	RSI	LONG ENTRY	SHORT CLOSE	30 crossover to upside
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-04	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2024-03-05	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-03-06	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-08	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
2024-03-12	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-13	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-14	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-15	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-19	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-20	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-21	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-22	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-03-26	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-03-27	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-28	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-04-01	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-04-03	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-04-04	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2024-04-05	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-08	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-04-09	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-04-10	STOCH	LONG EXIT		The %K line crosses below the %D line.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-04-12	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-04-15	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-04-16	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-04-17	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
2024-04-18	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-19	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-04-22	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside

6.3. Candlestick Patterns

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of Armada Hflr Pr based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	57.270
Ma 20	Greater than	Ma 50	10.371
Ma 50	Greater than	Ma 100	10.459
Ma 100	Greater than	Ma 200	11.160
Open	Greater than	Close	10.690
Total			2/5 (40.0%)

Create your own Symbol Scanner

Get notifications about Armada Hflr Pr

I send you an email if I find something interesting about Armada Hflr Pr.

Armada Hflr Pr Buy, Hold or Sell?

Let's analyse Armada Hflr Pr together

Get notifications about Armada Hflr Pr

Quick analysis of Armada Hflr Pr (30 sec.)

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

How much money do you get?

What is your share worth?

+ What do you gain per year?

For what price can you sell your share?

1. Valuation of Armada Hflr Pr (5 min.)

$10.70

$9.11

$-0.87 - $11.48

$8.24 - $20.59

2. Growth of Armada Hflr Pr (5 min.)

Is Armada Hflr Pr growing?

How much money is Armada Hflr Pr making?

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

3. Financial Health of Armada Hflr Pr (5 min.)

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

What can you expect buying and holding a share of Armada Hflr Pr?

Speculation

Investing

How much money are you going to get?

When do you get the money?

How sure are you?

Linear %

Fundamentals of Armada Hflr Pr

About Armada Hflr Pr

Financial Health

Valuation

1.1. Profitability of Armada Hflr Pr.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

1.1.2. Return on Assets

Trends

1.1.3. Return on Equity

Trends

1.2. Operating Efficiency of Armada Hflr Pr.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

1.2.2. Operating Ratio

Trends

1.3. Liquidity of Armada Hflr Pr.

1.3. Liquidity

1.3.1. Current Ratio

Trends

1.3.2. Quick Ratio

Trends

1.4. Solvency of Armada Hflr Pr.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

1.4.2. Debt to Equity Ratio

Trends

2. Market Valuation of Armada Hflr Pr

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

2.2. Price To Free Cash Flow Ratio

Trends

2. Book Value per Share

2.3. Price to Book Ratio

Trends

Armada Hflr Pr
Buy, Hold or Sell?