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Artis REIT
Buy, Hold or Sell?

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

Let's analyse Artis REIT

Let's start. I'm going to help you getting a better view of Artis REIT. 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.

  1. Company's Financial Health
    A deep dive into the books. How are the numbers doing? Is Artis REIT even making a profit? Is the company skyrocketing? Or is it sinking like the Titanic. The trend is your friend.
  2. Market Valuation
    Finally, you now have an insight of how Artis REIT is doing in the market. If the company is worth buying. The latest step is to find out how other investors value Artis REIT. The closing price on 2022-09-30 was $6.8748 per share. Is the company over- or underpriced?
  3. Key Performance Indicators
    A total overlook on how the company is doing. Based on the (trends in) the key performance indicators.
Artis REIT Daily Candlestick Chart


Summary

Financial Health

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

1.1. Profitability of Artis REIT.

1.1. Profitability

An important factor of a company's health is the profitability.

1.1.1. Net Profit Margin

Measures how much net profit Artis REIT earns for each $1 of revenue.

  • Above 10% is considered healthy but always compare Artis REIT to the REIT-Diversified industry mean.
  • A Net Profit Margin of 83.8% means that $0.84 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Artis REIT:

  • The MRQ is -21.5%. The company is making a huge loss. -2
  • The TTM is 83.8%. The company is making a huge profit. +2
Trends
Current periodCompared to+/- 
MRQ-21.5%TTM83.8%-105.3%
TTM83.8%YOY84.6%-0.8%
TTM83.8%5Y46.8%+37.1%
5Y46.8%10Y41.5%+5.3%
Compared to industry (REIT-Diversified)
PeriodCompanyIndustry (mean)+/- 
MRQ-21.5%35.1%-56.6%
TTM83.8%42.2%+41.6%
YOY84.6%21.8%+62.8%
5Y46.8%29.9%+16.9%
10Y41.5%33.8%+7.7%
1.1.2. Return on Assets

Shows how efficient Artis REIT is using its assets to generate profit.

  • Above 5% is considered healthy but always compare Artis REIT to the REIT-Diversified industry mean.
  • 1.7% Return on Assets means that Artis REIT generated $0.02 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Artis REIT:

  • The MRQ is -0.4%. Using its assets, the company is very inefficient in making profit. -2
  • The TTM is 1.7%. Using its assets, the company is less efficient in making profit.
Trends
Current periodCompared to+/- 
MRQ-0.4%TTM1.7%-2.1%
TTM1.7%YOY1.9%-0.2%
TTM1.7%5Y1.0%+0.7%
5Y1.0%10Y0.9%+0.1%
Compared to industry (REIT-Diversified)
PeriodCompanyIndustry (mean)+/- 
MRQ-0.4%1.3%-1.7%
TTM1.7%1.6%+0.1%
YOY1.9%0.6%+1.3%
5Y1.0%0.9%+0.1%
10Y0.9%1.0%-0.1%
1.1.3. Return on Equity

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

  • Above 15%-20% is considered healthy but always compare Artis REIT to the REIT-Diversified industry mean.
  • -0.8% Return on Equity means the company generated $-0.01 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Artis REIT:

  • The MRQ is -0.8%. Using its investors money, the company is very inefficient in making profit. -2
  • The TTM is 3.1%. Using its investors money, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ-0.8%TTM3.1%-3.9%
TTM3.1%YOY3.8%-0.7%
TTM3.1%5Y2.1%+1.0%
5Y2.1%10Y1.9%+0.1%
Compared to industry (REIT-Diversified)
PeriodCompanyIndustry (mean)+/- 
MRQ-0.8%2.9%-3.7%
TTM3.1%3.3%-0.2%
YOY3.8%1.4%+2.4%
5Y2.1%1.7%+0.4%
10Y1.9%1.8%+0.1%

1.2. Operating Efficiency of Artis REIT.

1.2. Operating Efficiency
1.2.1. Operating Margin

Measures how efficient Artis REIT is operating .

  • Measures how much profit Artis REIT 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 Artis REIT to the REIT-Diversified industry mean.
  • An Operating Margin of 72.9% means the company generated $0.73  for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Artis REIT:

  • The MRQ is 72.9%. The company is operating very efficient. +2
  • The TTM is 105.0%. The company is operating very efficient. +2
Trends
Current periodCompared to+/- 
MRQ72.9%TTM105.0%-32.1%
TTM105.0%YOY55.7%+49.3%
TTM105.0%5Y57.8%+47.2%
5Y57.8%10Y33.2%+24.6%
Compared to industry (REIT-Diversified)
PeriodCompanyIndustry (mean)+/- 
MRQ72.9%48.7%+24.2%
TTM105.0%41.2%+63.8%
YOY55.7%28.2%+27.5%
5Y57.8%34.3%+23.5%
10Y33.2%35.0%-1.8%
1.2.2. Operating Ratio

Measures how efficient Artis REIT is keeping operating costs low.

  • Below 1 is considered healthy (always compare to REIT-Diversified industry mean).
  • An Operation Ratio of 87.2% means that the operating costs are $0.87for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Artis REIT:

  • The MRQ is 0.872. The company is less efficient in keeping operating costs low.
  • The TTM is 0.895. The company is less efficient in keeping operating costs low.
Trends
Current periodCompared to+/- 
MRQ0.872TTM0.895-0.023
TTM0.895YOY0.881+0.014
TTM0.8955Y0.830+0.065
5Y0.83010Y0.631+0.200
Compared to industry (REIT-Diversified)
PeriodCompanyIndustry (mean)+/- 
MRQ0.8720.629+0.243
TTM0.8950.584+0.311
YOY0.8810.537+0.344
5Y0.8300.435+0.395
10Y0.6310.420+0.211

1.3. Liquidity of Artis REIT.

1.3. Liquidity
1.3.1. Current Ratio

Measures if Artis REIT 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 63.6% means the company has $0.64 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Artis REIT:

  • The MRQ is 0.636. The company is unable to pay all its short-term debts. -2
  • The TTM is 0.407. The company is unable to pay all its short-term debts. -2
Trends
Current periodCompared to+/- 
MRQ0.636TTM0.407+0.228
TTM0.407YOY0.497-0.089
TTM0.4075Y0.435-0.027
5Y0.43510Y0.230+0.205
Compared to industry (REIT-Diversified)
PeriodCompanyIndustry (mean)+/- 
MRQ0.6361.018-0.382
TTM0.4071.236-0.829
YOY0.4971.144-0.647
5Y0.4351.357-0.922
10Y0.2301.116-0.886
1.3.2. Quick Ratio

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

  • Above 1 is considered healthy (always compare to REIT-Diversified industry mean)
  • A Quick Ratio of 1.3% means the company can pay off $0.01 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Artis REIT:

  • The MRQ is 0.013. The company is just not able to pay all its short-term debts with the most liquid assets. -1
  • The TTM is 0.015. The company is just not able to pay all its short-term debts with the most liquid assets. -1
Trends
Current periodCompared to+/- 
MRQ0.013TTM0.015-0.003
TTM0.015YOY0.019-0.004
TTM0.0155Y0.028-0.013
5Y0.02810Y0.021+0.007
Compared to industry (REIT-Diversified)
PeriodCompanyIndustry (mean)+/- 
MRQ0.0130.289-0.276
TTM0.0150.408-0.393
YOY0.0190.388-0.369
5Y0.0280.412-0.384
10Y0.0210.339-0.318

1.4. Solvency of Artis REIT.

1.3. Liquidity
1.4.1. Debt to Asset Ratio

Measures how much % of Artis REIT assets are financed with debt.

  • Below 1 (100%) is considered healthy (always compare to REIT-Diversified industry mean).
  • A Debt to Asset Ratio of 0.49 means that Artis REIT assets are financed with 49.0% credit (debt) and the remaining percentage (100% - 49.0%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of Artis REIT:

  • The MRQ is 0.490. The company is very able to pay all its debts by selling its assets. +2
  • The TTM is 0.468. The company is very able to pay all its debts by selling its assets. +2
Trends
Current periodCompared to+/- 
MRQ0.490TTM0.468+0.021
TTM0.468YOY0.519-0.050
TTM0.4685Y0.510-0.042
5Y0.51010Y0.514-0.004
Compared to industry (REIT-Diversified)
PeriodCompanyIndustry (mean)+/- 
MRQ0.4900.454+0.036
TTM0.4680.445+0.023
YOY0.5190.463+0.056
5Y0.5100.439+0.071
10Y0.5140.435+0.079
1.4.2. Debt to Equity Ratio

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

  • Below 2 is considered healthy (always compare to REIT-Diversified industry mean).
  • A Debt to Equity ratio of 96.0% means that company has $0.96 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Artis REIT:

  • The MRQ is 0.960. The company is very able to pay all its debts with equity. +2
  • The TTM is 0.882. The company is very able to pay all its debts with equity. +2
Trends
Current periodCompared to+/- 
MRQ0.960TTM0.882+0.078
TTM0.882YOY1.079-0.197
TTM0.8825Y1.079-0.197
5Y1.07910Y1.077+0.002
Compared to industry (REIT-Diversified)
PeriodCompanyIndustry (mean)+/- 
MRQ0.9600.808+0.152
TTM0.8820.805+0.077
YOY1.0790.837+0.242
5Y1.0790.822+0.257
10Y1.0770.815+0.262

2. Market Valuation of Artis REIT

2. Earnings
2.1. Price to Earnings Ratio

Measures how many years it takes to double your invested money in Artis REIT.

  • Above 15 is considered overpriced but is hard to determine (always use industry average).
  • A PE ratio of 3.69 means the investor is paying $3.69 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Artis REIT:

  • The EOD is 2.767. Very good. +2
  • The MRQ is 3.691. Very good. +2
  • The TTM is 3.200. Very good. +2
Trends
Current periodCompared to+/- 
EOD2.767MRQ3.691-0.924
MRQ3.691TTM3.200+0.492
TTM3.200YOY92.038-88.838
TTM3.2005Y23.415-20.215
5Y23.41510Y16.804+6.610
Compared to industry (REIT-Diversified)
PeriodCompanyIndustry (mean)+/- 
EOD2.7674.903-2.136
MRQ3.6916.537-2.846
TTM3.2007.869-4.669
YOY92.0387.293+84.745
5Y23.4159.958+13.457
10Y16.80412.115+4.689
2.2. Price Earnings to Growth Ratio

Measures the predicted future growth of Artis REIT.

  • Lower is better
  • A PEG ratio of 1 means the investor is paying a fair price for the stock

Let's take a look of the Price Earnings to Growth Ratio trends of Artis REIT:

  • The MRQ is -0.543. Very Bad. -2
  • The TTM is -0.133. Very Bad. -2
Trends
Current periodCompared to+/- 
MRQ-0.543TTM-0.133-0.411
TTM-0.133YOY-0.951+0.818
TTM-0.1335Y-0.533+0.400
5Y-0.53310Y-0.298-0.234
Compared to industry (REIT-Diversified)
PeriodCompanyIndustry (mean)+/- 
MRQ-0.5430.016-0.559
TTM-0.1330.010-0.143
YOY-0.9510.002-0.953
5Y-0.533-0.045-0.488
10Y-0.298-0.064-0.234

2. Books
2.3. Price to Book Ratio

Measures if the stock price of Artis REIT 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 0.42 means the investor is paying $0.42 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Artis REIT:

  • The EOD is 0.312. Very good. +2
  • The MRQ is 0.416. Very good. +2
  • The TTM is 0.457. Very good. +2
Trends
Current periodCompared to+/- 
EOD0.312MRQ0.416-0.104
MRQ0.416TTM0.457-0.041
TTM0.457YOY0.448+0.010
TTM0.4575Y0.238+0.219
5Y0.23810Y0.119+0.119
Compared to industry (REIT-Diversified)
PeriodCompanyIndustry (mean)+/- 
EOD0.3120.906-0.594
MRQ0.4160.979-0.563
TTM0.4571.204-0.747
YOY0.4481.148-0.700
5Y0.2380.997-0.759
10Y0.1190.928-0.809

3. Summary

3.1. Key Performance Indicators

The key performance indicators of Artis REIT compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-5 Year+/-10 Year+/-
Book Value Per Share--22.02920.878+6%17.979+23%10.450+111%5.225+322%
Book Value Per Share Growth--0.3420.716-52%0.345-1%2.003-83%2.003-83%
Current Ratio--0.6360.407+56%0.497+28%0.435+46%0.230+176%
Debt To Asset Ratio--0.4900.468+5%0.519-6%0.510-4%0.514-5%
Debt To Equity Ratio--0.9600.882+9%1.079-11%1.079-11%1.077-11%
Dividend Per Share--0.1900.291-35%0.185+3%0.220-14%0.220-14%
Eps---0.2060.621-133%0.666-131%0.319-164%0.315-165%
Eps Growth---6.7923436.033-100%-440.079+6379%579.192-101%291.718-102%
Gains Per Share--0.5321.007-47%0.530+0%2.223-76%2.223-76%
Gross Profit Margin--1.0001.0000%1.0000%1.0000%0.900+11%
Net Profit Margin---0.2150.838-126%0.846-125%0.468-146%0.415-152%
Operating Margin--0.7291.050-31%0.557+31%0.578+26%0.332+120%
Operating Ratio--0.8720.895-3%0.881-1%0.830+5%0.631+38%
Pb Ratio0.312-33%0.4160.457-9%0.448-7%0.238+75%0.119+250%
Pe Ratio2.767-33%3.6913.200+15%92.038-96%23.415-84%16.804-78%
Peg Ratio---0.543-0.133-76%-0.951+75%-0.533-2%-0.298-45%
Price Per Share6.875-33%9.1709.538-4%8.055+14%8.784+4%10.537-13%
Quick Ratio--0.0130.015-18%0.019-34%0.028-56%0.021-40%
Return On Assets---0.0040.017-123%0.019-121%0.010-138%0.009-141%
Return On Equity---0.0080.031-125%0.038-120%0.021-137%0.019-140%
 EOD+3 -0MRQTTM+6 -13YOY+11 -85Y+7 -1210Y+9 -11

3.2. Fundamental Score

Let's check the fundamental score of Artis REIT based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-152.767
Price to Book Ratio (EOD)Between0-10.312
Net Profit Margin (MRQ)Greater than0-0.215
Operating Margin (MRQ)Greater than00.729
Quick Ratio (MRQ)Greater than10.013
Current Ratio (MRQ)Greater than10.636
Debt to Asset Ratio (MRQ)Less than10.490
Debt to Equity Ratio (MRQ)Less than10.960
Return on Equity (MRQ)Greater than0.15-0.008
Return on Assets (MRQ)Greater than0.05-0.004
Total5/10 (50.0%)

3.3. Technical Score

Let's check the technical score of Artis REIT based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5020.257
Ma 20Greater thanMa 507.782
Ma 50Greater thanMa 1008.517
Ma 100Greater thanMa 2008.996
OpenGreater thanClose6.900
Total1/5 (20.0%)



Reversals in quarterly reports

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

 2021-06-302021-09-302021-12-312022-03-312022-06-30
Income before Tax  217,723-177,77839,94520,85760,802208,178268,980-289,326-20,346
Net Income  217,056-177,20139,85520,54960,404176,609237,013-256,569-19,556
EBITDA  235,011-178,45356,55820,44977,007207,835284,842-285,553-711
Tax Provision  667-5779030839831,56931,967-32,757-790
Income Tax Expense  667-5779030839831,56931,967-32,757-790
Total Other Income Expense Net 176,060-173,5412,51922,33124,850208,837233,687-289,402-55,715
Net Income from Continuing Operations  217,056-177,20139,85520,54960,404176,609237,013-256,569-19,556
Net Income Applicable to Common Shares  212,734-177,18635,54820,56256,110176,626232,736-256,551-23,815



Latest Balance Sheet

Balance Sheet of 2022-06-30. Currency in USD. All numbers in thousands.

Summary
Total Assets4,998,257
Total Liabilities2,447,553
Total Stockholder Equity2,550,704
 As reported
Total Liabilities 2,447,553
Total Stockholder Equity+ 2,550,704
Total Assets = 4,998,257

Assets

Total Assets4,998,257
Total Current Assets819,301
Long-term Assets819,301
Total Current Assets
Cash And Cash Equivalents 79,748
Net Receivables 16,221
Other Current Assets 723,332
Total Current Assets  (as reported)819,301
Total Current Assets  (calculated)819,301
+/-0
Long-term Assets
Property Plant Equipment 3,305,529
Long Term Investments 788,398
Other Assets 85,029
Long-term Assets  (as reported)4,178,956
Long-term Assets  (calculated)4,178,956
+/-0

Liabilities & Shareholders' Equity

Total Current Liabilities1,288,482
Long-term Liabilities1,159,071
Total Stockholder Equity2,550,704
Total Current Liabilities
Short Long Term Debt 1,170,506
Accounts payable 76,142
Other Current Liabilities 41,538
Total Current Liabilities  (as reported)1,288,482
Total Current Liabilities  (calculated)1,288,186
+/- 296
Long-term Liabilities
Long term Debt 1,130,479
Other Liabilities 27,615
Long-term Liabilities Other 1,881
Long-term Liabilities  (as reported)1,159,071
Long-term Liabilities  (calculated)1,159,975
+/- 904
Total Stockholder Equity
Common Stock1,748,450
Retained Earnings 254,872
Other Stockholders Equity 172,630
Total Stockholder Equity (as reported)2,550,704
Total Stockholder Equity (calculated)2,175,952
+/- 374,752
Other
Capital Stock2,033,940
Common Stock Shares Outstanding 115,787
Net Debt 2,221,237
Net Invested Capital 4,566,199
Net Tangible Assets 2,265,214
Net Working Capital -469,181



Balance Sheet

Currency in USD. All numbers in thousands.

 Trend2022-06-302022-03-312021-12-312021-09-302021-06-302021-03-312020-12-312020-09-302020-06-302020-03-312019-12-312019-09-302019-06-302019-03-312018-12-312018-09-302018-06-302018-03-312017-12-312017-09-302017-06-302017-03-312016-12-312016-09-302016-06-302016-03-312015-12-312015-09-302015-06-302015-03-312014-12-312014-09-302014-06-302014-03-312013-12-312013-09-302013-06-302013-03-312012-12-312012-09-302012-06-302012-03-312011-12-312011-09-302011-06-302011-03-312010-12-312010-09-302010-06-302010-03-312009-12-312009-09-302009-06-302009-03-312008-12-312008-09-302008-06-302008-03-312007-12-312007-09-302007-06-302007-03-312006-12-312006-09-302006-06-302006-03-312005-12-312005-09-302005-06-302005-03-312004-12-31
> Total Assets 
9,377
16,535
16,523
128,176
234,363
311,950
367,390
418,898
422,798
597,851
751,648
1,005,392
1,180,343
1,171,293
1,179,871
1,172,668
1,022,589
958,898
992,000
1,067,837
1,131,377
1,330,547
1,596,917
1,786,508
2,156,407
2,473,531
2,922,739
2,875,990
3,106,392
3,442,062
3,797,867
4,248,602
4,416,362
4,503,782
4,682,778
4,916,518
4,746,340
4,706,061
4,951,511
4,824,675
4,714,613
4,444,507
4,437,645
4,263,036
3,981,159
4,185,407
4,411,600
4,364,186
4,087,480
4,060,137
4,109,118
4,168,213
4,157,749
6,676,583
6,434,732
5,435,895
5,717,177
5,676,308
5,540,373
5,431,426
5,330,019
5,337,483
5,236,565
5,207,812
4,859,841
4,853,520
4,955,764
4,593,164
4,576,024
4,798,662
4,998,257
4,998,2574,798,6624,576,0244,593,1644,955,7644,853,5204,859,8415,207,8125,236,5655,337,4835,330,0195,431,4265,540,3735,676,3085,717,1775,435,8956,434,7326,676,5834,157,7494,168,2134,109,1184,060,1374,087,4804,364,1864,411,6004,185,4073,981,1594,263,0364,437,6454,444,5074,714,6134,824,6754,951,5114,706,0614,746,3404,916,5184,682,7784,503,7824,416,3624,248,6023,797,8673,442,0623,106,3922,875,9902,922,7392,473,5312,156,4071,786,5081,596,9171,330,5471,131,3771,067,837992,000958,8981,022,5891,172,6681,179,8711,171,2931,180,3431,005,392751,648597,851422,798418,898367,390311,950234,363128,17616,52316,5359,377
   > Total Current Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
153,180
92,721
168,818
168,296
155,809
249,829
368,365
197,155
456,498
629,652
548,112
447,072
320,482
200,179
162,310
458,597
173,599
188,808
917,870
398,618
340,074
157,936
819,301
819,301157,936340,074398,618917,870188,808173,599458,597162,310200,179320,482447,072548,112629,652456,498197,155368,365249,829155,809168,296168,81892,721153,180000000000000000000000000000000000000000000000000
       Cash And Cash Equivalents 
0
0
0
0
0
0
0
0
0
27,142
59,494
28,920
29,483
24,037
22,075
17,175
11,380
7,486
12,321
21,551
34,132
39,391
94,003
125,428
88,590
33,513
92,484
55,694
92,276
155,955
51,432
121,395
55,135
98,788
40,647
84,048
45,394
138,736
115,156
109,957
42,859
80,653
46,402
53,001
48,009
68,124
116,435
40,298
37,750
58,204
33,256
38,755
28,563
50,615
191,847
33,796
66,143
51,168
94,597
59,531
42,455
53,039
28,757
35,198
34,703
40,932
31,547
280,334
221,474
36,324
79,748
79,74836,324221,474280,33431,54740,93234,70335,19828,75753,03942,45559,53194,59751,16866,14333,796191,84750,61528,56338,75533,25658,20437,75040,298116,43568,12448,00953,00146,40280,65342,859109,957115,156138,73645,39484,04840,64798,78855,135121,39551,432155,95592,27655,69492,48433,51388,590125,42894,00339,39134,13221,55112,3217,48611,38017,17522,07524,03729,48328,92059,49427,142000000000
       Short-term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
684
588
699
693
483
2,822
378
627
337
395
1,168
1,390
784
14,855
4,965
2,238
1,019
2,095
2,446
2,773
2,841
3,846
5,687
6,465
5,227
5,788
5,685
5,897
5,140
4,997
6,788
4,763
6,217
5,793
3,450
3,327
5,842
6,623
6,565
7,507
6,449
13,334
0
0
0
8,112
7,634
11,764
0
0
0
0
0
0
0
0
0
0
0
0000000000011,7647,6348,11200013,3346,4497,5076,5656,6235,8423,3273,4505,7936,2174,7636,7884,9975,1405,8975,6855,7885,2276,4655,6873,8462,8412,7732,4462,0951,0192,2384,96514,8557841,3901,1683953376273782,822483693699588684000000000000
       Net Receivables 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
11,898
13,901
13,952
13,884
15,255
28,461
26,477
22,780
25,644
21,647
21,141
17,638
25,009
43,127
20,476
18,671
18,836
18,287
13,231
14,054
15,508
16,024
16,221
16,22116,02415,50814,05413,23118,28718,83618,67120,47643,12725,00917,63821,14121,64725,64422,78026,47728,46115,25513,88413,95213,90111,898000000000000000000000000000000000000000000000000
       Inventory 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
10,731
11,227
530,373
410,836
340,675
14,632
14,710
14,769
14,894
15,060
2,923
1,757
1,371
62,904
59,667
667,579
667,57959,66762,9041,3711,7572,92315,06014,89414,76914,71014,632340,675410,836530,37311,22710,7310000000000000000000000000000000000000000000000000000000
   > Long-term Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,046,656
4,992,261
4,984,354
5,009,537
5,137,304
5,074,255
4,749,215
4,686,242
4,664,712
4,037,894
4,194,546
4,235,950
4,640,726
4,178,956
4,178,9564,640,7264,235,9504,194,5464,037,8944,664,7124,686,2424,749,2155,074,2555,137,3045,009,5374,984,3544,992,2615,046,656000000000000000000000000000000000000000000000000000000000
       Property Plant Equipment 
3
3
2
3
7
9
19
18
16
18
29
29
43
57
46
411
436
358
374
397
413
427
380
365
348
329
302
327
305
2,158
2,082
2,307
2,416
2,302
2,352
2,760
2,704
2,658
2,670
2,784
2,930
2,759
2,739
2,560
2,591
2,705
2,623
2,513
2,494
2,920
2,889
4,439
5,584
6,215,942
5,861,074
5,046,517
5,023,253
4,845,692
4,820,504
4,713,185
4,681,162
4,836,997
4,775,414
4,553,246
4,415,991
4,476,396
3,842,366
3,945,632
3,894,200
3,893,011
3,305,529
3,305,5293,893,0113,894,2003,945,6323,842,3664,476,3964,415,9914,553,2464,775,4144,836,9974,681,1624,713,1854,820,5044,845,6925,023,2535,046,5175,861,0746,215,9425,5844,4392,8892,9202,4942,5132,6232,7052,5912,5602,7392,7592,9302,7842,6702,6582,7042,7602,3522,3022,4162,3072,0822,158305327302329348365380427413397374358436411465743292918161819973233
       Long Term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
158,926
164,800
168,626
156,706
159,731
193,310
188,858
178,158
176,501
183,730
151,346
176,333
186,610
202,408
200,246
176,897
200,306
168,153
175,780
229,266
257,264
663,958
788,398
788,398663,958257,264229,266175,780168,153200,306176,897200,246202,408186,610176,333151,346183,730176,501178,158188,858193,310159,731156,706168,626164,800158,926000000000000000000000000000000000000000000000000
       Intangible Assets 
1,018
2,634
2,333
20,763
40,860
47,822
50,756
60,932
56,923
68,456
73,785
114,080
132,121
127,383
119,387
123,458
102,562
90,911
92,747
93,209
100,057
124,494
161,703
174,016
244,795
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0000000000000000000000000000000000000000000000244,795174,016161,703124,494100,05793,20992,74790,911102,562123,458119,387127,383132,121114,08073,78568,45656,92360,93250,75647,82240,86020,7632,3332,6341,018
       Long-term Assets Other 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,046,656
4,992,261
4,984,354
5,009,537
5,137,304
0
0
0
0
0
0
0
0
0
0000000005,137,3045,009,5374,984,3544,992,2615,046,656000000000000000000000000000000000000000000000000000000000
> Total Liabilities 
5,276
12,053
11,590
87,084
174,877
212,780
262,235
315,943
287,177
391,229
433,610
670,809
783,351
786,841
799,328
816,419
719,011
683,728
702,598
757,049
788,311
864,531
1,082,692
1,180,294
1,434,531
1,476,201
1,777,030
1,772,200
1,861,109
1,919,846
2,136,588
2,304,637
2,350,391
2,338,963
2,375,583
2,483,978
2,407,785
2,438,134
2,491,084
2,430,401
2,366,274
2,274,063
2,226,393
2,182,038
2,125,974
2,255,100
2,384,536
2,329,765
2,132,303
2,070,721
2,094,493
2,100,312
2,081,058
3,340,353
3,212,345
2,711,964
2,979,132
3,027,399
2,969,123
2,939,428
2,859,266
2,884,161
2,822,711
2,801,368
2,525,944
2,512,267
2,472,823
2,110,404
2,120,671
2,210,913
2,447,553
2,447,5532,210,9132,120,6712,110,4042,472,8232,512,2672,525,9442,801,3682,822,7112,884,1612,859,2662,939,4282,969,1233,027,3992,979,1322,711,9643,212,3453,340,3532,081,0582,100,3122,094,4932,070,7212,132,3032,329,7652,384,5362,255,1002,125,9742,182,0382,226,3932,274,0632,366,2742,430,4012,491,0842,438,1342,407,7852,483,9782,375,5832,338,9632,350,3912,304,6372,136,5881,919,8461,861,1091,772,2001,777,0301,476,2011,434,5311,180,2941,082,692864,531788,311757,049702,598683,728719,011816,419799,328786,841783,351670,809433,610391,229287,177315,943262,235212,780174,87787,08411,59012,0535,276
   > Total Current Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
130,706
164,238
219,811
229,102
295,427
284,113
315,613
291,304
257,021
268,615
306,652
348,125
331,292
436,293
440,192
422,292
488,070
500,562
605,920
597,736
686,755
843,465
981,683
759,912
770,388
903,846
684,696
729,360
1,136,297
700,190
566,447
726,258
782,400
791,732
811,952
717,176
880,966
910,145
867,482
877,639
1,022,959
853,485
824,552
954,548
1,024,291
1,288,482
1,288,4821,024,291954,548824,552853,4851,022,959877,639867,482910,145880,966717,176811,952791,732782,400726,258566,447700,1901,136,297729,360684,696903,846770,388759,912981,683843,465686,755597,736605,920500,562488,070422,292440,192436,293331,292348,125306,652268,615257,021291,304315,613284,113295,427229,102219,811164,238130,7060000000000000000000000000
       Short-term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,036,568
1,982,612
2,006,459
595,802
644,792
999,144
0
0
0
0
0
687,187
596,111
0
0
0
0
0
0
0
0
0
0
0000000000596,111687,18700000999,144644,792595,8022,006,4591,982,6122,036,568000000000000000000000000000000000000000000000000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,036,568
1,982,612
2,006,459
595,802
644,792
999,144
578,551
448,050
612,529
649,480
663,687
687,187
596,111
747,282
779,508
727,311
750,420
904,261
739,515
695,971
801,520
911,741
1,170,506
1,170,506911,741801,520695,971739,515904,261750,420727,311779,508747,282596,111687,187663,687649,480612,529448,050578,551999,144644,792595,8022,006,4591,982,6122,036,568000000000000000000000000000000000000000000000000
       Accounts payable 
126
239
191
1,191
3,527
3,790
3,763
4,716
4,912
6,369
6,291
8,542
8,964
8,903
10,371
21,574
9,971
7,688
7,990
10,066
10,300
13,949
16,023
21,174
22,657
27,192
25,072
36,115
32,690
36,350
32,853
44,378
42,530
40,926
36,251
35,191
31,396
26,133
25,596
26,083
24,360
57,771
54,354
63,606
22,637
62,523
67,581
64,537
28,209
56,427
55,999
62,717
20,240
77,030
61,970
66,765
33,988
96,757
91,022
89,144
39,018
92,865
88,546
99,644
35,407
77,407
77,705
90,578
36,752
71,717
76,142
76,14271,71736,75290,57877,70577,40735,40799,64488,54692,86539,01889,14491,02296,75733,98866,76561,97077,03020,24062,71755,99956,42728,20964,53767,58162,52322,63763,60654,35457,77124,36026,08325,59626,13331,39635,19136,25140,92642,53044,37832,85336,35032,69036,11525,07227,19222,65721,17416,02313,94910,30010,0667,9907,6889,97121,57410,3718,9038,9648,5426,2916,3694,9124,7163,7633,7903,5271,191191239126
       Other Current Liabilities 
0
545
365
432
597
885
929
964
1,292
1,634
2,275
2,438
2,800
2,771
2,904
2,801
2,446
2,362
2,552
2,821
3,210
4,388
4,892
5,794
6,813
18,498
21,678
20,085
22,866
29,881
35,015
33,932
34,099
38,626
36,191
54,468
48,476
56,056
56,481
60,574
59,324
27,480
26,774
24,299
55,075
26,025
27,185
31,919
63,808
27,557
27,573
26,176
64,328
60,123
59,668
51,632
53,866
44,591
45,276
43,078
53,012
40,819
42,091
40,527
66,953
41,096
35,963
37,694
94,789
40,521
41,538
41,53840,52194,78937,69435,96341,09666,95340,52742,09140,81953,01243,07845,27644,59153,86651,63259,66860,12364,32826,17627,57327,55763,80831,91927,18526,02555,07524,29926,77427,48059,32460,57456,48156,05648,47654,46836,19138,62634,09933,93235,01529,88122,86620,08521,67818,4986,8135,7944,8924,3883,2102,8212,5522,3622,4462,8012,9042,7712,8002,4382,2751,6341,2929649298855974323655450
   > Long-term Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,244,999
2,177,391
2,127,476
2,142,090
2,003,195
1,912,566
1,933,886
1,648,305
1,489,308
1,619,338
1,285,852
1,166,123
1,186,622
1,159,071
1,159,0711,186,6221,166,1231,285,8521,619,3381,489,3081,648,3051,933,8861,912,5662,003,1952,142,0902,127,4762,177,3912,244,999000000000000000000000000000000000000000000000000000000000
       Long-term Liabilities Other 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
789
788
1,049
1,000
2,020
1,942
1,902
1,823
1,771
1,837
1,804
2,005
1,912
1,881
1,8811,9122,0051,8041,8371,7711,8231,9021,9422,0201,0001,049788789000000000000000000000000000000000000000000000000000000000
       Deferred Long Term Liability 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,421
0
0
0
0
0
0
0
00000001,421000000000000000000000000000000000000000000000000000000000000000
> Total Stockholder Equity
4,101
4,482
4,933
41,092
59,486
99,170
105,155
102,955
126,728
197,699
308,311
324,267
386,776
374,439
370,512
346,642
295,148
267,048
289,402
310,788
343,067
466,015
514,225
606,213
721,877
997,330
1,145,709
1,103,790
1,245,283
1,522,216
1,661,279
1,943,965
2,065,971
2,164,819
2,307,195
2,432,540
2,338,555
2,267,927
2,460,426
2,394,274
2,348,339
2,170,445
2,211,252
2,080,998
1,855,185
1,930,307
2,027,064
2,034,421
1,955,176
1,989,416
2,014,626
2,067,902
2,076,691
2,872,186
2,783,404
2,346,757
2,361,164
2,648,909
2,571,250
2,491,998
2,470,753
2,453,322
2,413,854
2,406,444
2,333,897
2,341,253
2,482,941
2,482,760
2,455,353
2,587,749
2,550,704
2,550,7042,587,7492,455,3532,482,7602,482,9412,341,2532,333,8972,406,4442,413,8542,453,3222,470,7532,491,9982,571,2502,648,9092,361,1642,346,7572,783,4042,872,1862,076,6912,067,9022,014,6261,989,4161,955,1762,034,4212,027,0641,930,3071,855,1852,080,9982,211,2522,170,4452,348,3392,394,2742,460,4262,267,9272,338,5552,432,5402,307,1952,164,8192,065,9711,943,9651,661,2791,522,2161,245,2831,103,7901,145,709997,330721,877606,213514,225466,015343,067310,788289,402267,048295,148346,642370,512374,439386,776324,267308,311197,699126,728102,955105,15599,17059,48641,0924,9334,4824,101
   Common Stock
4,062
4,715
5,421
40,234
60,165
103,182
108,100
112,254
141,769
219,136
328,483
352,089
423,664
421,409
428,713
412,378
360,171
347,331
383,935
421,379
461,027
600,153
653,503
769,388
912,067
906,097
1,016,894
936,593
1,033,176
1,257,050
1,349,081
1,403,303
1,460,694
1,430,347
1,548,139
1,582,201
1,542,143
1,492,756
1,655,218
1,583,951
1,532,290
1,411,404
1,440,070
1,357,569
1,311,373
1,401,454
1,501,470
1,484,773
1,457,318
1,473,276
1,512,967
1,568,125
1,563,698
2,467,050
2,334,429
2,005,795
1,959,647
1,886,524
1,838,333
1,798,483
1,798,747
1,788,751
1,769,090
1,769,101
1,754,601
1,725,573
1,688,142
1,623,940
1,865,983
1,801,830
1,748,450
1,748,4501,801,8301,865,9831,623,9401,688,1421,725,5731,754,6011,769,1011,769,0901,788,7511,798,7471,798,4831,838,3331,886,5241,959,6472,005,7952,334,4292,467,0501,563,6981,568,1251,512,9671,473,2761,457,3181,484,7731,501,4701,401,4541,311,3731,357,5691,440,0701,411,4041,532,2901,583,9511,655,2181,492,7561,542,1431,582,2011,548,1391,430,3471,460,6941,403,3031,349,0811,257,0501,033,176936,5931,016,894906,097912,067769,388653,503600,153461,027421,379383,935347,331360,171412,378428,713421,409423,664352,089328,483219,136141,769112,254108,100103,18260,16540,2345,4214,7154,062
   Retained Earnings 
2
0
0
842
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
91,234
128,815
167,197
212,107
265,167
312,199
381,967
447,827
485,659
517,768
529,609
484,975
475,792
495,163
514,931
531,351
498,581
506,598
475,142
304,935
274,579
269,689
289,324
243,521
259,413
238,042
226,550
240,551
201,576
223,494
170,930
143,169
145,139
140,470
161,570
169,201
32,627
64,697
87,725
90,999
139,480
332,614
349,195
86,666
296,269
254,872
254,872296,26986,666349,195332,614139,48090,99987,72564,69732,627169,201161,570140,470145,139143,169170,930223,494201,576240,551226,550238,042259,413243,521289,324269,689274,579304,935475,142506,598498,581531,351514,931495,163475,792484,975529,609517,768485,659447,827381,967312,199265,167212,107167,197128,81591,234000000000000000000000842002
   Capital Surplus 00000000000000000000000000000000000000000000000000000000000000000000000
   Treasury Stock00000000000000000000000000000000000000000000000000000000000000000000000
   Other Stockholders Equity 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
151,405
145,213
125,945
94,702
104,395
203,560
225,482
170,032
246,716
216,852
186,222
203,828
175,048
300,575
242,583
212,134
147,231
130,362
111,737
153,227
145,758
122,521
172,630
172,630122,521145,758153,227111,737130,362147,231212,134242,583300,575175,048203,828186,222216,852246,716170,032225,482203,560104,39594,702125,945145,213151,405000000000000000000000000000000000000000000000000



Balance Sheet

Currency in USD. All numbers in thousands.




Cash Flow

Currency in USD. All numbers in thousands.