Bank of Marin Bancorp
Buy, Hold or Sell?

Let's analyse Bank of Marin Bancorp together

Penke I guess you are interested in Bank of Marin Bancorp. 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 Bank of Marin Bancorp. 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.

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Quick analysis of Bank of Marin Bancorp (30 sec.)

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

How much money do you get?

$0.99

When do you have the money?

1 year

How often do you get paid?

100.0%

What is your share worth?

Current worth

$27.11

Expected worth in 1 year

$28.78

How sure are you?

82.5%

+ What do you gain per year?

Total Gains per Share

$2.66

Return On Investment

17.2%

For what price can you sell your share?

Current Price per Share

$15.44

Expected price per share

$12.38 - $16.86

How sure are you?

50%

1. Valuation of Bank of Marin Bancorp (5 min.)

Live pricePrice per Share (EOD)

$15.44

Book Value per Share

$27.11

Intrinsic Value Per Share

$-8.60 - $17.65

Total Value Per Share

$18.51 - $44.76

My calculation of the intrinsic value of Bank of Marin Bancorp 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: ($0.53) 3Y: ($0.68) TTM: ($0.52)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($-0.01) 3Y: ($-0.04) TTM: ($-0.22)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$1.61	$2.57	$1.41 - $2.57
2	$2.50	$4.93	$0.71 - $2.43
3	$2.73	$7.11	$0.01 - $2.30
4	$2.39	$9.10	$-0.69 - $2.16
5	$1.53	$10.91	$-1.39 - $2.03
6	$0.21	$12.56	$-2.09 - $1.90
7	$-1.51	$14.05	$-2.79 - $1.76
8	$-3.58	$15.39	$-3.49 - $1.63
9	$-5.96	$16.59	$-4.19 - $1.49
10	$-8.60	$17.65	$-4.90 - $1.36

2. Growth of Bank of Marin Bancorp (5 min.)

Is Bank of Marin Bancorp growing?

	Current year	Previous year	Grow	Grow %
How rich?	$439m	$409.6m	$18.2m	4.3%

How much money is Bank of Marin Bancorp making?

	Current year	Previous year	Grow	Grow %
Making money	$4.9m	$11.6m	-$6.6m	-134.1%
Net Profit Margin	16.8%	33.6%	-	-

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

Quarterly Yearly

3. Financial Health of Bank of Marin Bancorp (5 min.)

4. Comparing to competitors in the Banks - Regional industry (5 min.)

Industry Rankings (Banks - Regional)

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

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

What can you expect buying and holding a share of Bank of Marin Bancorp?

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

Speculation

The Price per Share of Bank of Marin Bancorp is $15.44. 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 Bank of Marin Bancorp.
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 Bank of Marin Bancorp, 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 $27.11. Based on the TTM, the Book Value Change Per Share is $0.42 per quarter. Based on the YOY, the Book Value Change Per Share is $-0.59 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 $0.25 per quarter.

Based on historical numbers we can estimate the returns while holding a share of Bank of Marin Bancorp.

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	0.04	0.2%	0.31	2.0%	0.72	4.7%	0.51	3.3%	0.42	2.7%
Usd Book Value Change Per Share	1.26	8.2%	0.42	2.7%	-0.59	-3.8%	0.38	2.5%	0.40	2.6%
Usd Dividend Per Share	0.25	1.6%	0.25	1.6%	0.24	1.6%	0.21	1.4%	0.16	1.0%
Usd Total Gains Per Share	1.51	9.8%	0.67	4.3%	-0.35	-2.3%	0.59	3.8%	0.55	3.6%
Usd Price Per Share	22.02	-	19.97	-	32.42	-	32.52	-	44.93	-
Price to Earnings Ratio	146.14	-	46.30	-	11.37	-	22.73	-	37.32	-
Price-to-Total Gains Ratio	14.57	-	-82.02	-	-30.51	-	15.46	-	143.17	-
Price to Book Ratio	0.81	-	0.75	-	1.28	-	1.41	-	2.66	-
Price-to-Total Gains Ratio	14.57	-	-82.02	-	-30.51	-	15.46	-	143.17	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	15.44
Number of shares	64

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.25	0.21
Usd Book Value Change Per Share	0.42	0.38
Usd Total Gains Per Share	0.67	0.59
Gains per Quarter (64 shares)	42.56	37.74
Gains per Year (64 shares)	170.25	150.98

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	64	107	160	54	97	141
2	127	213	330	108	194	292
3	191	320	500	162	291	443
4	255	426	670	216	388	594
5	318	533	840	270	485	745
6	382	640	1010	324	582	896
7	446	746	1180	378	679	1047
8	509	853	1350	432	776	1198
9	573	959	1520	486	873	1349
10	637	1066	1690	540	970	1500

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	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%	96.0	0.0	0.0	100.0%
Book Value Change Per Share	2.0	2.0	0.0	50.0%	4.0	8.0	0.0	33.3%	12.0	8.0	0.0	60.0%	31.0	9.0	0.0	77.5%	82.0	14.0	0.0	85.4%
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%	78.0	0.0	18.0	81.3%
Total Gains per Share	2.0	2.0	0.0	50.0%	5.0	7.0	0.0	41.7%	13.0	7.0	0.0	65.0%	33.0	7.0	0.0	82.5%	85.0	11.0	0.0	88.5%

Fundamentals of Bank of Marin Bancorp

About Bank of Marin Bancorp

https://www.bankofmarin.com
Banks - Regional
329
504 Redwood Blvd., Novato, CA, United States, 94947
Google Maps Bing Maps

Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to small to medium-sized businesses, not-for-profit organizations, and commercial real estate investors in the United States. The company offers personal and business checking and savings accounts; and individual retirement, health savings, and demand deposit marketplace accounts, as well as time certificates of deposit, certificate of deposit account registry, and insured cash sweep services. It also provides commercial real estate, commercial and industrial, and consumer loans, as well as construction financing and home equity lines of credit. In addition, the company offers merchant and payroll services; commercial equipment leasing program; payment solutions; treasury management services; credit cards; and mobile deposit, remote deposit capture, automated clearing house, wire transfer, and image lockbox services. Further, it provides wealth management and trust services comprising customized investment portfolio management, financial planning, trust administration, estate settlement, and custody services, as well as 401(k) plan services; and automated teller machines, and telephone and digital banking services. The company was incorporated in 1989 and is headquartered in Novato, California.

Fundamental data was last updated by Penke on 2024-04-11 02:48:03.

Financial Health

Profitability Details

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

Operating Efficiency Details

	Compared to previous year	Compared to industry
The company is operating very efficient.

Liquidity Details

	Compared to previous year	Compared to industry
The company is very 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 just able to pay all its debts by selling its assets.
The company is unable to pay all its debts with equity.

Valuation

Valuation Details

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

1.1. Profitability of Bank of Marin Bancorp.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit Bank of Marin Bancorp earns for each $1 of revenue.

Above 10% is considered healthy but always compare Bank of Marin Bancorp to the Banks - Regional industry mean.
A Net Profit Margin of 1.9% means that $0.02 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Bank of Marin Bancorp:

The MRQ is 1.9%. The company is making a profit. +1
The TTM is 16.8%. The company is making a huge profit. +2

Trends

Current period		Compared to		+/-
MRQ	1.9%	TTM	16.8%	-14.9%
TTM	16.8%	YOY	33.6%	-16.8%
TTM	16.8%	5Y	28.3%	-11.5%
5Y	28.3%	10Y	27.0%	+1.3%

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	1.9%	18.4%	-16.5%
TTM	16.8%	28.0%	-11.2%
YOY	33.6%	25.2%	+8.4%
5Y	28.3%	22.8%	+5.5%
10Y	27.0%	19.8%	+7.2%

Measures how much net profit Bank of Marin Bancorp earns for each $1 of revenue.

Revenue is the amount of profit Bank of Marin Bancorp 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 Bank of Marin Bancorp 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 Bank of Marin Bancorp to the Banks - Regional industry mean.
Can be used to compare companies within the Banks - Regional industry.

You typically want a high profit margin. This means that for each $1 in sales, Bank of Marin Bancorp makes more profit. This shows the investor how efficiently Bank of Marin Bancorp is operating in general and compared to other companies in the same industry. Bank of Marin Bancorp operates in the Banks - Regional industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of Bank of Marin Bancorp. If profit margins remain low (compared to the Banks - Regional 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 Bank of Marin Bancorp is 0.02. This means that Bank of Marin Bancorp earned $0.02 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 Banks - Regional industry is 18.4%.
What is the trend?
The trend is important because it shows you how Bank of Marin Bancorp is performing over time. The most recent quarter might be important if Bank of Marin Bancorp 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 Bank of Marin Bancorp 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 Bank of Marin Bancorp with other companies in the same industry (Banks - Regional).
Net profit margin should rise over the years.
Can be influenced when Bank of Marin Bancorp sells assets (profit will increase while costs remain the same).
It won’t show what part of Bank of Marin Bancorp 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 Bank of Marin Bancorp

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 Bank of Marin Bancorp = 610
Total revenue MRQ Bank of Marin Bancorp = 32,140
$610 / $32,140 = 0.02 or 1.9%

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 Bank of Marin Bancorp is using its assets to generate profit.

Above 5% is considered healthy but always compare Bank of Marin Bancorp to the Banks - Regional industry mean.
0.0% Return on Assets means that Bank of Marin Bancorp generated $0.00 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Bank of Marin Bancorp:

The MRQ is 0.0%. Using its assets, the company is inefficient in making profit. -1
The TTM is 0.1%. Using its assets, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	0.0%	TTM	0.1%	-0.1%
TTM	0.1%	YOY	0.3%	-0.2%
TTM	0.1%	5Y	0.2%	-0.1%
5Y	0.2%	10Y	0.3%	0.0%

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	0.0%	0.1%	-0.1%
TTM	0.1%	0.2%	-0.1%
YOY	0.3%	0.2%	+0.1%
5Y	0.2%	0.2%	+0.0%
10Y	0.3%	0.2%	+0.1%

Shows how efficient Bank of Marin Bancorp 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 Bank of Marin Bancorp to the Banks - Regional 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 Bank of Marin Bancorp is using its resources to generate profit. If the return on assets (0.0%) from Bank of Marin Bancorp are higher than the Banks - Regional mean (0.1%) that means Bank of Marin Bancorp 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 Bank of Marin Bancorp is 0.0%. This means the company generated $0.00 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the Banks - Regional industry is 0.1%.
What is the trend?
The trend is important because it shows you how Bank of Marin Bancorp is performing over time. The most recent quarter might be important if Bank of Marin Bancorp 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 Bank of Marin Bancorp 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 Bank of Marin Bancorp

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

Income statement
Balance sheet

Net income MRQ (income statement) from Bank of Marin Bancorp = 610
Total assets MRQ (balance sheet) from Bank of Marin Bancorp = 3,812,769
610 / 3,812,769 = 0.00 or 0.0%

ROA is an important ratio as it will tell you how effectively Bank of Marin Bancorp 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 Bank of Marin Bancorp is using its investors money to generate profit.

Above 15%-20% is considered healthy but always compare Bank of Marin Bancorp to the Banks - Regional industry mean.
0.1% Return on Equity means Bank of Marin Bancorp generated $0.00 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Bank of Marin Bancorp:

The MRQ is 0.1%. Using its investors money, the company is inefficient in making profit. -1
The TTM is 1.2%. Using its investors money, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	0.1%	TTM	1.2%	-1.0%
TTM	1.2%	YOY	2.8%	-1.7%
TTM	1.2%	5Y	2.2%	-1.0%
5Y	2.2%	10Y	2.2%	-0.1%

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	0.1%	1.4%	-1.3%
TTM	1.2%	2.5%	-1.3%
YOY	2.8%	2.7%	+0.1%
5Y	2.2%	2.5%	-0.3%
10Y	2.2%	2.8%	-0.6%

Shows how efficient Bank of Marin Bancorp 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 Bank of Marin Bancorp to the Banks - Regional 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 Banks - Regional 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 Bank of Marin Bancorp is 0.1%. This means Bank of Marin Bancorp generated $0.00 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the Banks - Regional industry is 1.4%.
What is the trend?
The trend is important because it shows you how Bank of Marin Bancorp is performing over time. The most recent quarter might be important if Bank of Marin Bancorp 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 Bank of Marin Bancorp up to 10 years back (depending if Bank of Marin Bancorp 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 Bank of Marin Bancorp

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Bank of Marin Bancorp = 610
Shareholders equity (balance sheet) MRQ Bank of Marin Bancorp = 439,062
610 / 439,062 = 0.00 or 0.1%

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 Bank of Marin Bancorp.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Bank of Marin Bancorp is operating .

Measures how much profit Bank of Marin Bancorp 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 Bank of Marin Bancorp to the Banks - Regional industry mean.
An Operating Margin of -3.4% means the company generated $-0.03 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Bank of Marin Bancorp:

The MRQ is -3.4%. The company is operating very inefficient. -2
The TTM is 36.3%. The company is operating very efficient. +2

Trends

Current period		Compared to		+/-
MRQ	-3.4%	TTM	36.3%	-39.7%
TTM	36.3%	YOY	47.6%	-11.3%
TTM	36.3%	5Y	43.4%	-7.1%
5Y	43.4%	10Y	43.4%	0.0%

Measures how efficient Bank of Marin Bancorp 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 Bank of Marin Bancorp to the Banks - Regional 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 Bank of Marin Bancorp 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 Bank of Marin Bancorp is -3.4%. This means that Bank of Marin Bancorp earned $-0.03 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Banks - Regional industry is .
What is the trend?
The trend is important because it shows you how Bank of Marin Bancorp is performing over time. The most recent quarter might be important if Bank of Marin Bancorp 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 Bank of Marin Bancorp 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 Bank of Marin Bancorp

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Bank of Marin Bancorp = 1,186
Total revenue MRQ Bank of Marin Bancorp = 32,140
$1,186 / $32,140 = -0.03 or -3.4%

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 Bank of Marin Bancorp is keeping operating costs low.

Below 1 is considered healthy (always compare to Banks - Regional industry mean).
An Operation Ratio of 0.10 means that the operating costs are $0.10 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Bank of Marin Bancorp:

The MRQ is 0.103. The company is very efficient in keeping operating costs low. +2
The TTM is -0.642.

Trends

Current period		Compared to		+/-
MRQ	0.103	TTM	-0.642	+0.745
TTM	-0.642	YOY	-0.129	-0.513
TTM	-0.642	5Y	-0.404	-0.238
5Y	-0.404	10Y	-0.447	+0.042

Measures how efficient Bank of Marin Bancorp 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 Bank of Marin Bancorp to the Banks - Regional 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 Bank of Marin Bancorp is 10.3%. This means that Bank of Marin Bancorp earned $0.10 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 Banks - Regional industry is .
What is the trend?
The trend is important because it shows you how Bank of Marin Bancorp is performing over time. The most recent quarter might be important if Bank of Marin Bancorp 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 Bank of Marin Bancorp 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 Bank of Marin Bancorp

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
(-3,283 +6,596) \ 32,140 = 0.10

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 Bank of Marin Bancorp.

1.3. Liquidity

1.3.1. Current Ratio

Measures if Bank of Marin Bancorp is able to pay off Short-term Debt.

Above 1.5 is considered healthy (always compare to Banks - Regional industry mean).
A Current Ratio of 0.02 means the company has $0.02 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Bank of Marin Bancorp:

The MRQ is 0.017. The company is unable to pay all its short-term debts. -2
The TTM is 5.444. The company is very able to pay all its short-term debts. +2

Trends

Current period		Compared to		+/-
MRQ	0.017	TTM	5.444	-5.427
TTM	5.444	YOY	46.473	-41.029
TTM	5.444	5Y	70.632	-65.188
5Y	70.632	10Y	87.615	-16.983

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
TTM	5.444	0.124	+5.320
YOY	46.473	0.225	+46.248
5Y	70.632	0.219	+70.413
10Y	87.615	0.131	+87.484

Measures if Bank of Marin Bancorp 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 Banks - Regional 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 Bank of Marin Bancorp 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 Bank of Marin Bancorp is 0.02. This means Bank of Marin Bancorp has $0.02 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Banks - Regional industry is .
What is the trend?
The trend is important because it shows you how Bank of Marin Bancorp is performing over time. The most recent quarter might be important if Bank of Marin Bancorp 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 Bank of Marin Bancorp 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 Bank of Marin Bancorp

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
43,205 \ 2,614,080) = 0.02

The current ratio measures if Bank of Marin Bancorp 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 Bank of Marin Bancorp 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 Bank of Marin Bancorp 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 Bank of Marin Bancorp 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 Bank of Marin Bancorp is able to pay off Short-term Debt but only using the most liquid assets.

Above 1 is considered healthy but always compare Bank of Marin Bancorp to the Banks - Regional industry mean.
A Quick Ratio of 0.78 means the company can pay off $0.78 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Bank of Marin Bancorp:

The MRQ is 0.776. The company is just not able to pay all its short-term debts with the most liquid assets. -1
The TTM is 8.047. The company is very able to pay all its short-term debts with the most liquid assets. +2

Trends

Current period		Compared to		+/-
MRQ	0.776	TTM	8.047	-7.271
TTM	8.047	YOY	80.420	-72.373
TTM	8.047	5Y	56.873	-48.826
5Y	56.873	10Y	53.253	+3.620

Measures if Bank of Marin Bancorp 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 Bank of Marin Bancorp to the Banks - Regional 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 Bank of Marin Bancorp can pay off its short term debts. This shows if Bank of Marin Bancorp 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 Bank of Marin Bancorp is 0.78. This means that Bank of Marin Bancorp can pay off $0.78 for each $1 in debt (using most liquid assets).
How does it compare to the industry?
The mean MRQ Quick Ratio of the Banks - Regional industry is .
What is the trend?
The trend is important because it shows you how Bank of Marin Bancorp is performing over time. The most recent quarter might be important if Bank of Marin Bancorp 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 Bank of Marin Bancorp 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 Bank of Marin Bancorp

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 Bank of Marin Bancorp: (1,477,226 + 552,028 +0) / 2,614,080 = 0.78

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 Bank of Marin Bancorp.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of Bank of Marin Bancorp assets are financed with debt.

Below 1 (100%) is considered healthy but always compare Bank of Marin Bancorp to Banks - Regional industry mean.
A Debt to Asset Ratio of 0.88 means that Bank of Marin Bancorp assets are financed with 88.5% credit (debt) and the remaining percentage (100% - 88.5%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of Bank of Marin Bancorp:

The MRQ is 0.885. The company is just able to pay all its debts by selling its assets.
The TTM is 0.893. The company is just able to pay all its debts by selling its assets.

Trends

Current period		Compared to		+/-
MRQ	0.885	TTM	0.893	-0.009
TTM	0.893	YOY	0.904	-0.011
TTM	0.893	5Y	0.888	+0.006
5Y	0.888	10Y	0.887	+0.001

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	0.885	0.915	-0.030
TTM	0.893	0.917	-0.024
YOY	0.904	0.919	-0.015
5Y	0.888	0.919	-0.031
10Y	0.887	0.927	-0.040

Measures how much % of Bank of Marin Bancorp assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake Bank of Marin Bancorp than its shareholders.

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Bank of Marin Bancorp to Banks - Regional 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 Bank of Marin Bancorp is 0.88. This means means that Bank of Marin Bancorp is financed with 88.5% 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 Banks - Regional industry is .
What is the trend?
The trend is important because it shows you how Bank of Marin Bancorp is performing over time. The most recent quarter might be important if Bank of Marin Bancorp 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 Bank of Marin Bancorp 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 Bank of Marin Bancorp has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Bank of Marin Bancorp

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

Balance sheet
Debt to asset ratio = total debt \ total assets
3,373,707 \ 3,812,769 = 88.5% or 0.88.

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 Bank of Marin Bancorp is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare Bank of Marin Bancorp to the Banks - Regional industry mean.
A Debt to Equity ratio of 768.4% means that company has $7.68 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Bank of Marin Bancorp:

The MRQ is 7.684. The company is unable to pay all its debts with equity. -1
The TTM is 8.397. The company is unable to pay all its debts with equity. -1

Trends

Current period		Compared to		+/-
MRQ	7.684	TTM	8.397	-0.714
TTM	8.397	YOY	9.474	-1.076
TTM	8.397	5Y	8.021	+0.376
5Y	8.021	10Y	7.908	+0.113

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	7.684	10.829	-3.145
TTM	8.397	11.013	-2.616
YOY	9.474	11.363	-1.889
5Y	8.021	11.437	-3.416
10Y	7.908	13.038	-5.130

Measures if Bank of Marin Bancorp 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 Bank of Marin Bancorp 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 Bank of Marin Bancorp is 7.68. This means that Bank of Marin Bancorp can pay off $7.68 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Banks - Regional industry is 10.83.
What is the trend?
The trend is important because it shows you how Bank of Marin Bancorp is performing over time. The most recent quarter might be important if Bank of Marin Bancorp 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 Bank of Marin Bancorp 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 Bank of Marin Bancorp

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
3,373,707 \ 439,062 = 7.68 or 768.4%

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 Bank of Marin Bancorp

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 Bank of Marin Bancorp generates.

Above 15 is considered overpriced but always compare Bank of Marin Bancorp to the Banks - Regional industry mean.
A PE ratio of 146.14 means the investor is paying $146.14 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Bank of Marin Bancorp:

The EOD is 102.469. Based on the earnings, the company is expensive. -2
The MRQ is 146.138. Based on the earnings, the company is expensive. -2
The TTM is 46.305. Based on the earnings, the company is overpriced. -1

Trends

Current period		Compared to		+/-
EOD	102.469	MRQ	146.138	-43.669
MRQ	146.138	TTM	46.305	+99.833
TTM	46.305	YOY	11.372	+34.933
TTM	46.305	5Y	22.732	+23.573
5Y	22.732	10Y	37.317	-14.585

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
EOD	102.469	7.548	+94.921
MRQ	146.138	6.680	+139.458
TTM	46.305	5.295	+41.010
YOY	11.372	6.943	+4.429
5Y	22.732	9.770	+12.962
10Y	37.317	9.943	+27.374

Measures how much money you pay for each share for every $1 in earnings Bank of Marin Bancorp 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 Bank of Marin Bancorp to the Banks - Regional 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 Bank of Marin Bancorp is 146.14. This means the investor is paying $146.14 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Banks - Regional industry is 6.68.
What is the trend?
The trend is important because it shows you how Bank of Marin Bancorp is performing over time. The most recent quarter might be important if Bank of Marin Bancorp 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 Bank of Marin Bancorp 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 Bank of Marin Bancorp

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 \ 16,052 = EPS
PE ratio MRQ = 146.14

* 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 Bank of Marin Bancorp:

The EOD is 77.073. Based on how much money comes from the company's main activities, the company is overpriced. -1
The MRQ is 109.919. Based on how much money comes from the company's main activities, the company is expensive. -2
The TTM is 33.031. Based on how much money comes from the company's main activities, the company is fair priced.

Trends

Current period		Compared to		+/-
EOD	77.073	MRQ	109.919	-32.846
MRQ	109.919	TTM	33.031	+76.887
TTM	33.031	YOY	11.042	+21.989
TTM	33.031	5Y	22.071	+10.960
5Y	22.071	10Y	32.656	-10.585

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
EOD	77.073	-2.110	+79.183
MRQ	109.919	-1.868	+111.787
TTM	33.031	-0.342	+33.373
YOY	11.042	6.448	+4.594
5Y	22.071	0.429	+21.642
10Y	32.656	0.091	+32.565

2. Book Value per Share

2.3. Price to Book Ratio

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

At or below 1 is considered healthy (always compare to Banks - Regional industry mean).
A PB ratio of 0.81 means the investor is paying $0.81 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Bank of Marin Bancorp:

The EOD is 0.569. Based on the equity, the company is cheap. +2
The MRQ is 0.812. Based on the equity, the company is cheap. +2
The TTM is 0.755. Based on the equity, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	0.569	MRQ	0.812	-0.243
MRQ	0.812	TTM	0.755	+0.058
TTM	0.755	YOY	1.281	-0.526
TTM	0.755	5Y	1.408	-0.654
5Y	1.408	10Y	2.663	-1.254

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
EOD	0.569	0.436	+0.133
MRQ	0.812	0.386	+0.426
TTM	0.755	0.470	+0.285
YOY	1.281	0.642	+0.639
5Y	1.408	0.795	+0.613
10Y	2.663	1.025	+1.638

2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of Bank of Marin Bancorp.

3.1. Institutions holding Bank of Marin Bancorp

Institutions are holding 54.072% of the shares of Bank of Marin Bancorp.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	BlackRock Inc	9.0093	0.0008	1458913	48614	3.4471
2023-12-31	Vanguard Group Inc	5.1628	0.0004	836026	-52999	-5.9615
2023-12-31	AllianceBernstein L.P.	4.7894	0.0066	775572	-11284	-1.4341
2023-12-31	Manufacturers Life Insurance Co	3.8741	0.0083	627343	-37788	-5.6813
2023-12-31	Dimensional Fund Advisors, Inc.	3.8726	0.004	627109	46477	8.0046
2023-12-31	Hotchkis & Wiley Capital Management LLC	2.5307	0.0321	409810	-8470	-2.025
2023-12-31	State Street Corporation	2.3536	0.0004	381124	-33463	-8.0714
2023-12-31	ProShare Advisors LLC	2.289	0.0249	370671	-53634	-12.6404
2023-12-31	Geode Capital Management, LLC	2.1568	0.0008	349256	20197	6.1378
2023-12-31	Ameriprise Financial Inc	1.7911	0.0019	290040	33053	12.8617
2023-12-31	Morgan Stanley - Brokerage Accounts	1.2506	0.0004	202517	10850	5.6609
2023-12-31	American Century Companies Inc	0.9428	0.0023	152673	29612	24.0629
2023-12-31	Northern Trust Corp	0.8679	0.0006	140548	-5455	-3.7362
2023-09-30	Fourthstone LLC	0.8273	0.5558	133968	105669	373.4019
2023-12-31	Goldman Sachs Group Inc	0.7094	0.0002	114876	56015	95.1649
2023-12-31	Charles Schwab Investment Management Inc	0.7094	0.0006	114872	-3038	-2.5765
2023-12-31	Renaissance Technologies Corp	0.6877	0.0038	111368	-20439	-15.5068
2023-12-31	Bank of New York Mellon Corp	0.6322	0.0005	102381	24344	31.1955
2023-12-31	Panagora Asset Management Inc	0.4225	0.0084	68411	-2097	-2.9741
2023-12-31	Perigon Wealth Management, LLC	0.3953	0.0461	64005	1201	1.9123
Total		45.2745	0.6989	7331483	+147365	+2.0%

3.2. Funds holding Bank of Marin Bancorp

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2024-02-29	Vanguard Total Stock Mkt Idx Inv	2.7658	0.0005	447868	0	0
2024-03-28	ProShares Russell 2000 Dividend Growers	2.7612	0.9531	447134	0	0
2024-03-28	iShares Russell 2000 ETF	2.6656	0.0111	431652	207	0.048
2024-01-31	JHancock Regional Bank A	1.4475	0.577	234402	-7520	-3.1084
2024-01-31	JH Financial Opportunities	1.1707	0.5348	189583	0	0
2024-02-29	Vanguard Institutional Extnd Mkt Idx Tr	1.1446	0.003	185354	1800	0.9806
2024-02-29	DFA US Small Cap Value I	1.0009	0.0175	162075	6358	4.083
2024-01-31	Fidelity Small Cap Index	1.0008	0.0128	162057	0	0
2024-03-29	Avantis US Small Cap Value ETF	0.9965	0.025	161367	0	0
2024-03-28	iShares Russell 2000 Value ETF	0.9835	0.0213	159254	-101	-0.0634
2024-02-29	Columbia Small Cap Value I A	0.9418	0.1903	152510	-500	-0.3268
2023-12-31	Columbia Small Cap Value I	0.9387	0.2452	152010	15796	11.5965
2024-02-29	State St Russell Sm/Mid Cp® Indx NL Cl C	0.879	0.0057	142339	2200	1.5699
2024-02-29	AB Small Cap Value Advisor	0.8739	0.3844	141519	0	0
2024-01-31	JHancock Financial Industries A	0.6628	0.464	107324	-3805	-3.4239
2024-02-29	AB Small Cap Core Z	0.5441	0.2117	88110	0	0
2024-02-29	Vanguard Dividend Appreciation ETF	0.4978	0.0015	80610	420	0.5238
2024-02-29	Fidelity Extended Market Index	0.4965	0.0035	80399	-390	-0.4827
2024-02-29	Hotchkis & Wiley Sm Cp Divers Val I	0.478	0.1564	77400	0	0
2024-03-29	Schwab US Small-Cap ETF™	0.4097	0.0065	66349	0	0
Total		22.6594	3.8253	3669316	+14465	+0.4%

3.3. Insider Transactions

Insiders are holding 10.784% of the shares of Bank of Marin Bancorp.

Date	Owner	Type	Amount	Price
2023-12-01	William H Mcdevitt Jr	SELL	3000	20.1
2023-05-23	Misako Stewart	BUY	1000	18.45
2023-05-10	Timothy D Myers	BUY	684	14.56
2023-05-08	Arasadi Sathis	BUY	100	14.2
2023-05-05	Arasadi Sathis	BUY	200	14.3
2023-05-05	David A Merck	BUY	500	14.4
2023-05-05	Secil Tabli Watson	BUY	1500	14.39
2023-05-03	Kevin R Kennedy	BUY	5000	15.15

4. Summary

4.1. Key Performance Indicators

The key performance indicators of Bank of Marin Bancorp 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	-	-	1.262	0.416	+203%	-0.591	+147%	0.379	+233%	0.399	+217%
Book Value Per Share	-	-	27.114	26.428	+3%	25.299	+7%	23.746	+14%	19.232	+41%
Current Ratio	-	-	0.017	5.444	-100%	46.473	-100%	70.632	-100%	87.615	-100%
Debt To Asset Ratio	-	-	0.885	0.893	-1%	0.904	-2%	0.888	0%	0.887	0%
Debt To Equity Ratio	-	-	7.684	8.397	-8%	9.474	-19%	8.021	-4%	7.908	-3%
Dividend Per Share	-	-	0.249	0.249	+0%	0.242	+3%	0.211	+18%	0.155	+61%
Eps	-	-	0.038	0.307	-88%	0.719	-95%	0.507	-93%	0.423	-91%
Free Cash Flow Per Share	-	-	0.050	0.524	-90%	0.818	-94%	0.653	-92%	0.527	-90%
Free Cash Flow To Equity Per Share	-	-	-15.492	-5.425	-65%	-1.334	-91%	1.260	-1330%	1.282	-1308%
Gross Profit Margin	-	-	-19.808	-4.241	-79%	0.977	-2128%	-0.068	-100%	0.452	-4484%
Intrinsic Value_10Y_max	-	-	17.647	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	-8.601	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	2.569	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	1.614	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	7.108	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	2.733	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	10.912	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	1.525	-	-	-	-	-	-	-	-
Market Cap	250024552.000	-43%	356576466.000	323299234.500	+10%	524986786.000	-32%	526654695.900	-32%	727548775.700	-51%
Net Profit Margin	-	-	0.019	0.168	-89%	0.336	-94%	0.283	-93%	0.270	-93%
Operating Margin	-	-	-0.034	0.363	-109%	0.476	-107%	0.434	-108%	0.434	-108%
Operating Ratio	-	-	0.103	-0.642	+723%	-0.129	+225%	-0.404	+492%	-0.447	+533%
Pb Ratio	0.569	-43%	0.812	0.755	+8%	1.281	-37%	1.408	-42%	2.663	-70%
Pe Ratio	102.469	-43%	146.138	46.305	+216%	11.372	+1185%	22.732	+543%	37.317	+292%
Price Per Share	15.440	-43%	22.020	19.965	+10%	32.420	-32%	32.523	-32%	44.929	-51%
Price To Free Cash Flow Ratio	77.073	-43%	109.919	33.031	+233%	11.042	+895%	22.071	+398%	32.656	+237%
Price To Total Gains Ratio	10.213	-43%	14.566	-82.023	+663%	-30.507	+309%	15.457	-6%	143.173	-90%
Quick Ratio	-	-	0.776	8.047	-90%	80.420	-99%	56.873	-99%	53.253	-99%
Return On Assets	-	-	0.000	0.001	-87%	0.003	-94%	0.002	-93%	0.003	-94%
Return On Equity	-	-	0.001	0.012	-88%	0.028	-95%	0.022	-94%	0.022	-94%
Total Gains Per Share	-	-	1.512	0.665	+127%	-0.349	+123%	0.590	+156%	0.554	+173%
Usd Book Value	-	-	439062000.000	427948750.000	+3%	409666250.000	+7%	384524050.000	+14%	311431825.000	+41%
Usd Book Value Change Per Share	-	-	1.262	0.416	+203%	-0.591	+147%	0.379	+233%	0.399	+217%
Usd Book Value Per Share	-	-	27.114	26.428	+3%	25.299	+7%	23.746	+14%	19.232	+41%
Usd Dividend Per Share	-	-	0.249	0.249	+0%	0.242	+3%	0.211	+18%	0.155	+61%
Usd Eps	-	-	0.038	0.307	-88%	0.719	-95%	0.507	-93%	0.423	-91%
Usd Free Cash Flow	-	-	811000.000	8486500.000	-90%	13252750.000	-94%	10571050.000	-92%	8533175.000	-90%
Usd Free Cash Flow Per Share	-	-	0.050	0.524	-90%	0.818	-94%	0.653	-92%	0.527	-90%
Usd Free Cash Flow To Equity Per Share	-	-	-15.492	-5.425	-65%	-1.334	-91%	1.260	-1330%	1.282	-1308%
Usd Market Cap	250024552.000	-43%	356576466.000	323299234.500	+10%	524986786.000	-32%	526654695.900	-32%	727548775.700	-51%
Usd Price Per Share	15.440	-43%	22.020	19.965	+10%	32.420	-32%	32.523	-32%	44.929	-51%
Usd Profit	-	-	610000.000	4974000.000	-88%	11646500.000	-95%	8209650.000	-93%	6853425.000	-91%
Usd Revenue	-	-	32140000.000	29727500.000	+8%	34599250.000	-7%	29118150.000	+10%	25133525.000	+28%
Usd Total Gains Per Share	-	-	1.512	0.665	+127%	-0.349	+123%	0.590	+156%	0.554	+173%
	EOD	+4 -4	MRQ	TTM	+16 -20	YOY	+14 -22	5Y	+14 -22	10Y	+14 -22

4.2. Fundamental Score

Let's check the fundamental score of Bank of Marin Bancorp based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	102.469
Price to Book Ratio (EOD)	Between	0-1	0.569
Net Profit Margin (MRQ)	Greater than	0	0.019
Operating Margin (MRQ)	Greater than	0	-0.034
Quick Ratio (MRQ)	Greater than	1	0.776
Current Ratio (MRQ)	Greater than	1	0.017
Debt to Asset Ratio (MRQ)	Less than	1	0.885
Debt to Equity Ratio (MRQ)	Less than	1	7.684
Return on Equity (MRQ)	Greater than	0.15	0.001
Return on Assets (MRQ)	Greater than	0.05	0.000
Total			3/10 (30.0%)

Create your own Stock Scanner

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4.3. Technical Score

Let's check the technical score of Bank of Marin Bancorp based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Open	Greater than	Close	15.530
Total			1/1 (100.0%)

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.
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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
Long-term Assets Other	-54,588	-1,701,505	-1,756,093	38,343	-1,717,750	123,793	-1,593,957	5,196,258	3,602,301
Net Working Capital	904,852	533,664	1,438,516	1,099	1,439,615	133,099	1,572,714	-4,143,589	-2,570,875
EBIT	18,478	-10,129	8,349	7,674	16,023	1,172	17,195	-18,276	-1,081
EBITDA	19,424	-9,848	9,576	7,187	16,763	1,190	17,953	-18,311	-358
Tax Provision	4,766	-1,328	3,438	-2,117	1,321	279	1,600	-1,818	-218
Income Tax Expense	4,766	-1,328	3,438	-2,117	1,321	279	1,600	-1,818	-218

Latest Balance Sheet

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

Summary

Total Assets	3,812,769
Total Liabilities	3,373,707
Total Stockholder Equity	439,062

	As reported
Total Liabilities	3,373,707
Total Stockholder Equity	+ 439,062
Total Assets	= 3,812,769

Assets

Total Assets	3,812,769
Total Current Assets	43,205
Long-term Assets	3,769,564

Total Current Assets

Total Current Assets (as reported)	43,205
Cash And Cash Equivalents	30,453
Short-term Investments	552,028
Total Current Assets (calculated)	582,481
+/-	539,276

Long-term Assets

Long-term Assets (as reported)	3,769,564
Property Plant Equipment	28,108
Goodwill	72,754
Long Term Investments	1,477,226
Intangible Assets	3,766
Long-term Assets Other	3,602,301
Long-term Assets (calculated)	5,184,155
+/-	1,414,591

Liabilities & Shareholders' Equity

Total Current Liabilities	2,614,080
Long-term Liabilities	759,627
Total Stockholder Equity	439,062

Total Current Liabilities

Total Current Liabilities (as reported)	2,614,080
Short-term Debt	30,908
Other Current Liabilities	2,583,172
Total Current Liabilities (calculated)	2,614,080
+/-	0

Long-term Liabilities

Long-term Liabilities (as reported)	759,627
Long term Debt	26,000
Capital Lease Obligations	23,204
Long-term Liabilities (calculated)	49,204
+/-	710,423

Total Stockholder Equity

Total Stockholder Equity (as reported)	439,062
Common Stock	217,498
Retained Earnings	274,570
Accumulated Other Comprehensive Income	-53,006
Total Stockholder Equity (calculated)	439,062
+/-	0

Other

Capital Stock	217,498
Cash and Short Term Investments	1,477,226
Common Stock Shares Outstanding	16,052
Liabilities and Stockholders Equity	3,812,769
Net Debt	18,751
Net Invested Capital	465,062
Net Working Capital	-2,570,875
Property Plant and Equipment Gross	51,256
Short Long Term Debt Total	49,204

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

2011-09-30

2011-06-30

2011-03-31

2010-12-31

2010-09-30

2010-06-30

2010-03-31

2009-12-31

2009-09-30

2009-06-30

2009-03-31

2008-12-31

2008-09-30

2008-06-30

2008-03-31

2007-12-31

2007-09-30

2007-06-30

2007-03-31

2006-12-31

2006-09-30

2006-06-30

2006-03-31

2005-12-31

2005-09-30

2005-06-30

2005-03-31

2004-12-31

2004-09-30

2004-06-30

2004-03-31

2003-12-31

2003-09-30

2003-06-30

2003-03-31

2002-12-31

2002-09-30

2002-06-30

2002-03-31

2001-12-31

2001-09-30

2001-06-30

2001-03-31

2000-12-31

2000-09-30

2000-06-30

2000-03-31

> Total Assets

351,095
372,142
384,412
379,096
396,529
406,306
429,692
455,417
463,504
482,147
528,896
539,025
546,667
574,356
615,751
642,607
656,082
691,307
723,290
737,094
761,235
814,216
850,055
840,449
842,599
868,182
873,237
876,578
881,550
890,600
924,238
933,901
919,839
952,539
984,739
1,049,557
1,074,828
1,094,359
1,126,529
1,121,672
1,168,777
1,185,536
1,219,214
1,208,150
1,290,699
1,337,393
1,362,717
1,393,263
1,421,284
1,407,000
1,435,114
1,434,749
1,427,022
1,428,518
1,483,603
1,805,194
1,797,852
1,823,901
1,802,657
1,787,130
1,826,149
1,870,762
1,882,794
2,031,134
1,943,602
1,950,452
2,054,821
2,023,493
2,033,708
2,100,716
2,155,901
2,468,154
2,510,043
2,465,042
2,545,715
2,520,892
2,534,076
2,463,987
2,592,071
2,707,280
2,697,738
3,181,540
2,975,225
2,911,926
3,058,133
3,073,818
4,261,062
4,314,209
4,330,424
4,326,904
4,348,653
4,147,464
4,135,279
4,092,133
4,035,549
3,812,769

3,812,769

4,035,549

4,092,133

4,135,279

4,147,464

4,348,653

4,326,904

4,330,424

4,314,209

4,261,062

3,073,818

3,058,133

2,911,926

2,975,225

3,181,540

2,697,738

2,707,280

2,592,071

2,463,987

2,534,076

2,520,892

2,545,715

2,465,042

2,510,043

2,468,154

2,155,901

2,100,716

2,033,708

2,023,493

2,054,821

1,950,452

1,943,602

2,031,134

1,882,794

1,870,762

1,826,149

1,787,130

1,802,657

1,823,901

1,797,852

1,805,194

1,483,603

1,428,518

1,427,022

1,434,749

1,435,114

1,407,000

1,421,284

1,393,263

1,362,717

1,337,393

1,290,699

1,208,150

1,219,214

1,185,536

1,168,777

1,121,672

1,126,529

1,094,359

1,074,828

1,049,557

984,739

952,539

919,839

933,901

924,238

890,600

881,550

876,578

873,237

868,182

842,599

840,449

850,055

814,216

761,235

737,094

723,290

691,307

656,082

642,607

615,751

574,356

546,667

539,025

528,896

482,147

463,504

455,417

429,692

406,306

396,529

379,096

384,412

372,142

351,095

> Total Current Assets

0
0
0
0
0
0
29,701
30,103
33,480
40,210
40,016
35,717
34,563
40,620
53,179
53,050
53,644
52,198
52,195
50,353
57,117
55,757
55,086
45,997
58,963
60,652
59,894
65,504
59,756
131,220
40,245
61,106
122,743
122,830
114,354
128,436
122,934
153,396
175,593
38,660
85,443
69,183
97,754
85,232
128,960
110,159
132,786
85,232
141,839
343,258
382,798
28,349
312,995
293,576
348,783
103,773
1,415,714
1,465,094
1,452,594
1,449,818
1,494,128
1,502,737
1,443,226
1,524,856
1,525,797
1,550,668
1,611,642
1,588,939
1,602,518
1,681,658
1,725,795
1,939,411
1,892,449
1,862,116
1,932,378
1,858,135
1,883,155
1,882,322
2,037,680
2,085,711
2,055,186
2,563,218
2,378,919
2,346,037
2,324,665
2,324,500
1,744,573
399,003
1,188,859
2,016,152
268,066
927,798
1,869,751
1,757,407
1,717,089
43,205

43,205

1,717,089

1,757,407

1,869,751

927,798

268,066

2,016,152

1,188,859

399,003

1,744,573

2,324,500

2,324,665

2,346,037

2,378,919

2,563,218

2,055,186

2,085,711

2,037,680

1,882,322

1,883,155

1,858,135

1,932,378

1,862,116

1,892,449

1,939,411

1,725,795

1,681,658

1,602,518

1,588,939

1,611,642

1,550,668

1,525,797

1,524,856

1,443,226

1,502,737

1,494,128

1,449,818

1,452,594

1,465,094

1,415,714

103,773

348,783

293,576

312,995

28,349

382,798

343,258

141,839

85,232

132,786

110,159

128,960

85,232

97,754

69,183

85,443

38,660

175,593

153,396

122,934

128,436

114,354

122,830

122,743

61,106

40,245

131,220

59,756

65,504

59,894

60,652

58,963

45,997

55,086

55,757

57,117

50,353

52,195

52,198

53,644

53,050

53,179

40,620

34,563

35,717

40,016

40,210

33,480

30,103

29,701

Cash And Cash Equivalents

0
0
0
21,618
0
0
23,154
24,024
26,798
33,898
33,421
29,169
28,393
34,251
36,784
36,026
36,355
32,635
32,407
29,499
35,328
33,415
32,467
21,062
33,675
34,091
31,521
37,283
31,088
29,360
25,562
28,765
28,328
30,355
20,464
24,926
19,587
46,376
63,589
23,660
35,811
69,183
73,546
85,232
109,850
88,043
130,675
129,743
139,827
98,321
141,438
28,349
31,364
32,175
99,358
103,773
91,567
81,380
46,424
41,367
103,164
117,533
35,315
26,343
39,770
55,438
96,930
48,804
73,162
137,906
149,124
203,545
159,347
83,855
142,718
34,221
51,639
58,757
182,486
183,388
156,274
397,699
213,584
200,320
142,819
257,543
584,739
347,641
170,901
115,905
185,552
45,424
37,993
39,657
123,132
30,453

30,453

123,132

39,657

37,993

45,424

185,552

115,905

170,901

347,641

584,739

257,543

142,819

200,320

213,584

397,699

156,274

183,388

182,486

58,757

51,639

34,221

142,718

83,855

159,347

203,545

149,124

137,906

73,162

48,804

96,930

55,438

39,770

26,343

35,315

117,533

103,164

41,367

46,424

81,380

91,567

103,773

99,358

32,175

31,364

28,349

141,438

98,321

139,827

129,743

130,675

88,043

109,850

85,232

73,546

69,183

35,811

23,660

63,589

46,376

19,587

24,926

20,464

30,355

28,328

28,765

25,562

29,360

31,088

37,283

31,521

34,091

33,675

21,062

32,467

33,415

35,328

29,499

32,407

32,635

36,355

36,026

36,784

34,251

28,393

29,169

33,421

33,898

26,798

24,024

23,154

21,618

Short-term Investments

0
0
0
2,000
0
0
0
17,300
0
0
0
29,500
0
0
0
16,900
0
0
0
0
0
0
0
0
0
0
0
1,500
0
101,901
15,000
47,500
94,415
92,475
93,890
103,510
103,347
107,020
112,004
15,000
49,632
18,706
24,208
19,508
19,110
22,116
2,111
19,508
2,012
244,937
241,360
153,962
142,653
129,562
119,340
243,998
230,337
215,873
211,582
200,848
204,680
254,018
333,856
417,787
336,234
323,361
378,996
372,580
241,684
238,870
258,092
332,467
423,882
388,137
405,571
462,464
442,885
378,131
358,724
432,260
448,868
429,775
413,464
392,351
518,568
517,963
963,033
1,167,568
955,457
893,149
812,493
802,096
797,533
770,942
658,815
552,028

552,028

658,815

770,942

797,533

802,096

812,493

893,149

955,457

1,167,568

963,033

517,963

518,568

392,351

413,464

429,775

448,868

432,260

358,724

378,131

442,885

462,464

405,571

388,137

423,882

332,467

258,092

238,870

241,684

372,580

378,996

323,361

336,234

417,787

333,856

254,018

204,680

200,848

211,582

215,873

230,337

243,998

119,340

129,562

142,653

153,962

241,360

244,937

2,012

19,508

2,111

22,116

19,110

19,508

24,208

18,706

49,632

15,000

112,004

107,020

103,347

103,510

93,890

92,475

94,415

47,500

15,000

101,901

1,500

16,900

29,500

17,300

2,000

Net Receivables

0
0
0
0
0
0
6,547
6,080
6,682
6,312
6,595
6,548
6,170
6,369
16,395
17,024
17,289
19,563
19,788
20,854
21,789
22,342
22,619
24,935
25,288
26,561
28,373
28,221
28,668
3,654
4,052
32,341
27,878
29,319
32,091
32,235
32,592
33,301
33,953
39,625
38,152
38,681
38,843
38,838
43,516
42,320
42,333
42,665
43,222
42,909
42,756
43,351
46,268
48,639
46,830
70,720
64,699
60,103
60,234
60,199
59,636
60,353
59,168
62,284
59,216
61,918
62,762
68,961
67,005
67,499
67,472
72,620
77,133
76,463
76,606
75,871
74,795
74,521
72,744
75,714
73,936
76,186
79,457
80,035
80,032
83,290
47,578
51,362
62,400
75,511
82,514
79,828
75,665
79,373
81,427
0

81,427

79,373

75,665

79,828

82,514

75,511

62,400

51,362

47,578

83,290

80,032

80,035

79,457

76,186

73,936

75,714

72,744

74,521

74,795

75,871

76,606

76,463

77,133

72,620

67,472

67,499

67,005

68,961

62,762

61,918

59,216

62,284

59,168

60,353

59,636

60,199

60,234

60,103

64,699

70,720

46,830

48,639

46,268

43,351

42,756

42,909

43,222

42,665

42,333

42,320

43,516

38,838

38,843

38,681

38,152

39,625

33,953

33,301

32,592

32,235

32,091

29,319

27,878

32,341

4,052

3,654

28,668

28,221

28,373

26,561

25,288

24,935

22,619

22,342

21,789

20,854

19,788

19,563

17,289

17,024

16,395

6,369

6,170

6,548

6,595

6,312

6,682

6,080

6,547

Other 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
0
0
0
0
0
0
0
0
1,033,421
1,107,738
1,109,243
1,147,404
1,126,648
1,070,833
1,014,887
1,018,442
1,090,577
1,109,951
1,072,954
1,098,594
1,220,667
1,237,383
1,251,107
1,330,779
1,232,087
1,313,661
1,307,483
1,279,385
1,306,887
1,364,825
1,418,399
1,392,542
1,374,766
1,658,225
1,672,167
1,673,085
1,583,000
1,465,459
1,393,441
-1,167,669
790,264
931,487
-812,493
58,948
50,239
52,882
134,846
43,205

43,205

134,846

52,882

50,239

58,948

-812,493

931,487

790,264

-1,167,669

1,393,441

1,465,459

1,583,000

1,673,085

1,672,167

1,658,225

1,374,766

1,392,542

1,418,399

1,364,825

1,306,887

1,279,385

1,307,483

1,313,661

1,232,087

1,330,779

1,251,107

1,237,383

1,220,667

1,098,594

1,072,954

1,109,951

1,090,577

1,018,442

1,014,887

1,070,833

1,126,648

1,147,404

1,109,243

1,107,738

1,033,421

> Long-term Assets

0
0
0
0
0
0
71,030
86,635
82,418
78,787
85,505
68,688
63,830
71,125
107,098
127,234
139,467
123,475
117,846
115,894
114,755
105,246
111,585
113,706
111,951
109,592
106,422
97,819
91,821
8,216
8,019
107,992
7,887
8,635
8,558
8,292
8,032
7,883
8,257
8,043
7,938
8,047
8,584
8,419
8,750
9,280
9,624
8,419
9,183
9,074
8,989
9,344
9,358
9,178
8,947
9,110
382,138
358,807
350,063
337,312
332,021
368,025
439,568
506,278
417,805
399,784
443,179
434,554
431,190
419,058
430,106
528,743
617,594
602,926
613,337
662,757
650,921
581,665
554,391
621,569
642,552
618,322
596,306
565,889
733,468
749,318
1,272,169
1,620,311
1,855,480
1,932,761
1,882,703
1,885,128
109,069
108,607
106,613
3,769,564

3,769,564

106,613

108,607

109,069

1,885,128

1,882,703

1,932,761

1,855,480

1,620,311

1,272,169

749,318

733,468

565,889

596,306

618,322

642,552

621,569

554,391

581,665

650,921

662,757

613,337

602,926

617,594

528,743

430,106

419,058

431,190

434,554

443,179

399,784

417,805

506,278

439,568

368,025

332,021

337,312

350,063

358,807

382,138

9,110

8,947

9,178

9,358

9,344

8,989

9,074

9,183

8,419

9,624

9,280

8,750

8,419

8,584

8,047

7,938

8,043

8,257

7,883

8,032

8,292

8,558

8,635

7,887

107,992

8,019

8,216

91,821

97,819

106,422

109,592

111,951

113,706

111,585

105,246

114,755

115,894

117,846

123,475

139,467

127,234

107,098

71,125

63,830

68,688

85,505

78,787

82,418

86,635

71,030

Property Plant Equipment

2,705
2,612
2,499
2,425
2,694
2,860
2,931
4,113
3,954
4,502
4,302
4,551
4,434
4,244
4,184
4,508
4,332
4,155
4,082
3,911
3,784
3,999
4,819
5,034
5,161
6,328
7,208
8,446
8,259
8,216
8,019
7,821
7,887
8,635
8,558
8,292
8,032
7,883
8,257
8,043
7,938
8,047
8,584
8,419
8,750
9,280
9,624
9,498
9,183
9,074
8,989
9,344
9,358
9,178
8,947
9,110
9,036
9,296
9,277
9,859
9,852
9,673
9,537
9,305
8,909
8,650
8,611
8,520
8,336
8,390
8,230
8,612
8,297
7,965
7,602
7,376
19,702
19,387
18,408
17,072
27,933
28,368
31,307
30,531
29,163
28,754
32,583
31,162
30,780
29,420
32,108
32,955
31,544
31,422
29,763
28,108

28,108

29,763

31,422

31,544

32,955

32,108

29,420

30,780

31,162

32,583

28,754

29,163

30,531

31,307

28,368

27,933

17,072

18,408

19,387

19,702

7,376

7,602

7,965

8,297

8,612

8,230

8,390

8,336

8,520

8,611

8,650

8,909

9,305

9,537

9,673

9,852

9,859

9,277

9,296

9,036

9,110

8,947

9,178

9,358

9,344

8,989

9,074

9,183

9,498

9,624

9,280

8,750

8,419

8,584

8,047

7,938

8,043

8,257

7,883

8,032

8,292

8,558

8,635

7,887

7,821

8,019

8,216

8,259

8,446

7,208

6,328

5,161

5,034

4,819

3,999

3,784

3,911

4,082

4,155

4,332

4,508

4,184

4,244

4,434

4,551

4,302

4,502

3,954

4,113

2,931

2,860

2,694

2,425

2,499

2,612

2,705

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
0
0
0
0
0
0
6,435
6,436
6,436
6,436
6,436
6,436
6,436
6,436
6,436
6,436
6,436
6,436
6,436
6,436
6,436
6,436
30,140
30,140
30,140
30,140
30,140
30,140
30,140
30,140
30,140
30,140
30,140
30,140
30,140
30,140
30,140
72,754
72,754
72,754
72,754
72,754
72,754
72,754
72,754
72,754
72,754

72,754

30,140

6,436

6,435

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
972,714
979,419
0
0
0
0
1,060,291
1,058,401
0
0
1,255,098
1,263,758
1,323,611
1,345,936
1,348,252
1,331,328
1,324,851
1,348,743
1,436,229
1,426,811
1,433,312
1,451,950
1,471,174
1,462,351
1,476,253
1,509,199
1,663,246
1,655,969
2,260,587
2,282,847
1,748,043
2,352,451
527,010
500,937
569,673
580,008
555,556
2,616,692
501,387
670,538
687,001
1,159,834
1,509,790
1,745,721
1,824,736
1,772,360
1,774,303
1,756,093
1,717,750
1,593,957
1,477,226

1,477,226

1,593,957

1,717,750

1,756,093

1,774,303

1,772,360

1,824,736

1,745,721

1,509,790

1,159,834

687,001

670,538

501,387

2,616,692

555,556

580,008

569,673

500,937

527,010

2,352,451

1,748,043

2,282,847

2,260,587

1,655,969

1,663,246

1,509,199

1,476,253

1,462,351

1,471,174

1,451,950

1,433,312

1,426,811

1,436,229

1,348,743

1,324,851

1,331,328

1,348,252

1,345,936

1,323,611

1,263,758

1,255,098

1,058,401

1,060,291

979,419

972,714

Intangible 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
10,938
4,310
4,117
3,925
3,732
3,577
3,423
3,268
3,113
2,980
2,846
2,713
2,580
2,462
2,344
2,226
6,492
6,262
6,032
5,802
5,571
5,349
5,128
4,906
4,684
4,471
4,258
4,045
3,831
3,627
3,423
6,998
6,605
6,225
5,851
5,481
5,116
4,771
4,431
4,096
3,766

3,766

4,096

4,431

4,771

5,116

5,481

5,851

6,225

6,605

6,998

3,423

3,627

3,831

4,045

4,258

4,471

4,684

4,906

5,128

5,349

5,571

5,802

6,032

6,262

6,492

2,226

2,344

2,462

2,580

2,713

2,846

2,980

3,113

3,268

3,423

3,577

3,732

3,925

4,117

4,310

10,938

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
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
595,790
527,010
500,937
569,673
580,008
555,556
0
0
0
0
0
0
0
0
0
0
0
0
0
0

555,556

580,008

569,673

500,937

527,010

595,790

Long-term Assets Other

0
0
0
0
0
0
-71,030
-86,635
-82,418
-78,787
-85,505
-68,688
-63,830
-71,125
-107,098
-127,234
-139,467
-123,475
-117,846
-115,894
-114,755
-105,246
-111,585
-113,706
-111,951
-109,592
-106,422
-97,819
-91,821
-101,901
-113,620
-107,992
-94,415
-92,475
-93,890
-103,510
-103,347
-107,020
-112,004
-143,214
-127,536
-142,105
-147,922
-146,653
-162,702
-225,036
-200,666
-195,921
-210,367
-244,937
-241,360
-293,414
-281,631
-261,401
-249,425
-366,493
4,310
1,044,756
1,075,745
1,129,305
1,073,736
1,031,640
983,910
1,029,955
1,083,698
1,110,515
1,086,419
1,165,433
1,112,463
1,139,609
1,161,185
1,450,551
1,158,072
1,217,332
1,217,738
1,217,209
1,233,688
1,294,474
1,352,198
1,504,489
-607,941
1,609,963
-562,121
-531,918
-699,701
-749,318
726,871
2,725,060
326,417
105,697
113,812
-54,588
-1,756,093
-1,717,750
-1,593,957
3,602,301

3,602,301

-1,593,957

-1,717,750

-1,756,093

-54,588

113,812

105,697

326,417

2,725,060

726,871

-749,318

-699,701

-531,918

-562,121

1,609,963

-607,941

1,504,489

1,352,198

1,294,474

1,233,688

1,217,209

1,217,738

1,217,332

1,158,072

1,450,551

1,161,185

1,139,609

1,112,463

1,165,433

1,086,419

1,110,515

1,083,698

1,029,955

983,910

1,031,640

1,073,736

1,129,305

1,075,745

1,044,756

4,310

-366,493

-249,425

-261,401

-281,631

-293,414

-241,360

-244,937

-210,367

-195,921

-200,666

-225,036

-162,702

-146,653

-147,922

-142,105

-127,536

-143,214

-112,004

-107,020

-103,347

-103,510

-93,890

-92,475

-94,415

-107,992

-113,620

-101,901

-91,821

-97,819

-106,422

-109,592

-111,951

-113,706

-111,585

-105,246

-114,755

-115,894

-117,846

-123,475

-139,467

-127,234

-107,098

-71,125

-63,830

-68,688

-85,505

-78,787

-82,418

-86,635

-71,030

> Total Liabilities

321,104
340,786
351,737
344,744
360,490
369,159
390,536
414,816
421,673
438,542
483,469
491,908
497,585
523,293
562,479
587,030
597,380
632,230
660,914
671,486
692,515
742,180
774,726
762,228
761,025
783,115
783,103
787,053
799,894
806,450
838,859
846,127
829,126
859,992
890,066
924,011
974,541
990,772
1,019,113
1,012,621
1,056,265
1,069,568
1,100,600
1,086,230
1,165,215
1,208,335
1,229,716
1,257,712
1,281,263
1,262,674
1,287,778
1,282,957
1,270,179
1,270,159
1,321,892
1,624,307
1,611,687
1,632,995
1,606,983
1,587,104
1,621,643
1,663,580
1,670,840
1,816,661
1,721,956
1,724,000
1,823,041
1,792,930
1,798,722
1,859,983
1,910,852
2,171,129
2,211,579
2,160,844
2,237,112
2,204,485
2,213,412
2,136,320
2,259,006
2,370,492
2,351,798
2,829,300
2,617,655
2,553,673
2,707,841
2,725,169
3,802,537
3,863,841
3,910,016
3,917,331
3,952,061
3,735,372
3,705,105
3,668,192
3,616,931
3,373,707

3,373,707

3,616,931

3,668,192

3,705,105

3,735,372

3,952,061

3,917,331

3,910,016

3,863,841

3,802,537

2,725,169

2,707,841

2,553,673

2,617,655

2,829,300

2,351,798

2,370,492

2,259,006

2,136,320

2,213,412

2,204,485

2,237,112

2,160,844

2,211,579

2,171,129

1,910,852

1,859,983

1,798,722

1,792,930

1,823,041

1,724,000

1,721,956

1,816,661

1,670,840

1,663,580

1,621,643

1,587,104

1,606,983

1,632,995

1,611,687

1,624,307

1,321,892

1,270,159

1,270,179

1,282,957

1,287,778

1,262,674

1,281,263

1,257,712

1,229,716

1,208,335

1,165,215

1,086,230

1,100,600

1,069,568

1,056,265

1,012,621

1,019,113

990,772

974,541

924,011

890,066

859,992

829,126

846,127

838,859

806,450

799,894

787,053

783,103

783,115

761,025

762,228

774,726

742,180

692,515

671,486

660,914

632,230

597,380

587,030

562,479

523,293

497,585

491,908

483,469

438,542

421,673

414,816

390,536

369,159

360,490

344,744

351,737

340,786

321,104

> Total Current Liabilities

0
0
0
0
0
0
3,235
2,998
2,744
3,028
3,258
5,879
3,481
3,227
2,994
2,914
3,292
2,447
3,258
3,607
3,919
4,396
3,462
5,056
5,542
4,638
5,685
5,956
6,265
0
521
6,485
8,664
6,972
7,238
9,921
110,092
63,167
64,822
8,560
8,967
10,390
17,322
10,491
16,855
9,429
13,191
14,740
15,622
11,957
13,905
14,668
15,428
13,522
14,416
17,236
15,324
14,095
15,228
15,300
16,285
12,806
15,015
16,040
15,815
12,892
16,032
14,644
13,825
13,777
14,179
16,720
19,213
17,319
18,435
20,005
14,349
14,332
13,665
12,615
23,726
24,574
27,527
27,062
25,993
24,919
26,637
25,429
22,935
24,117
26,744
22,946
431,235
317,792
144,375
2,614,080

2,614,080

144,375

317,792

431,235

22,946

26,744

24,117

22,935

25,429

26,637

24,919

25,993

27,062

27,527

24,574

23,726

12,615

13,665

14,332

14,349

20,005

18,435

17,319

19,213

16,720

14,179

13,777

13,825

14,644

16,032

12,892

15,815

16,040

15,015

12,806

16,285

15,300

15,228

14,095

15,324

17,236

14,416

13,522

15,428

14,668

13,905

11,957

15,622

14,740

13,191

9,429

16,855

10,491

17,322

10,390

8,967

8,560

64,822

63,167

110,092

9,921

7,238

6,972

8,664

6,485

521

6,265

5,956

5,685

4,638

5,542

5,056

3,462

4,396

3,919

3,607

3,258

2,447

3,292

2,914

2,994

3,227

3,481

5,879

3,258

3,028

2,744

2,998

3,235

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
99,100
55,000
55,000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
22,181
0
0
0
74,053
0
0
0
6,519
5,628
5,666
6,612
6,479
5,772
6,078
0
0
14,349
14,332
13,665
12,615
23,726
24,574
27,527
27,062
25,993
24,919
26,637
25,429
25,351
24,117
26,744
26,639
405,802
292,572
120,335
30,908

30,908

120,335

292,572

405,802

26,639

26,744

24,117

25,351

25,429

26,637

24,919

25,993

27,062

27,527

24,574

23,726

12,615

13,665

14,332

14,349

6,078

5,772

6,479

6,612

5,666

5,628

6,519

74,053

22,181

55,000

99,100

Short Long Term Debt

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
22,181
0
0
0
74,053
0
0
0
6,519
5,628
5,666
6,612
6,479
5,772
6,078
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
405,802
292,572
120,335
0

120,335

292,572

405,802

6,078

5,772

6,479

6,612

5,666

5,628

6,519

74,053

22,181

Accounts payable

319,192
339,068
349,384
341,711
356,831
366,299
3,235
2,998
2,744
3,028
3,258
5,879
3,481
3,227
2,994
2,914
3,292
2,447
3,258
3,607
3,919
4,396
3,462
5,056
5,542
4,638
5,685
5,956
6,265
776,477
521
6,485
8,664
6,972
7,238
9,921
10,992
8,167
9,822
8,560
8,967
10,390
17,322
10,491
16,855
9,429
13,191
14,740
15,622
11,957
13,905
14,668
15,428
13,522
14,416
17,236
15,324
14,095
15,228
15,300
16,285
12,806
15,015
16,040
15,815
12,892
16,032
14,644
13,825
13,777
14,179
16,720
19,213
17,319
18,435
20,005
17,468
16,977
17,871
18,468
18,052
21,977
17,980
19,527
25,619
16,237
47,753
29,443
22,935
62,188
22,242
22,946
23,296
25,188
28,872
0

28,872

25,188

23,296

22,946

22,242

62,188

22,935

29,443

47,753

16,237

25,619

19,527

17,980

21,977

18,052

18,468

17,871

16,977

17,468

20,005

18,435

17,319

19,213

16,720

14,179

13,777

13,825

14,644

16,032

12,892

15,815

16,040

15,015

12,806

16,285

15,300

15,228

14,095

15,324

17,236

14,416

13,522

15,428

14,668

13,905

11,957

15,622

14,740

13,191

9,429

16,855

10,491

17,322

10,390

8,967

8,560

9,822

8,167

10,992

9,921

7,238

6,972

8,664

6,485

521

776,477

6,265

5,956

5,685

4,638

5,542

5,056

3,462

4,396

3,919

3,607

3,258

2,447

3,292

2,914

2,994

3,227

3,481

5,879

3,258

3,028

2,744

2,998

3,235

366,299

356,831

341,711

349,384

339,068

319,192

Other Current Liabilities

0
0
0
0
0
0
-3,235
-2,998
-2,744
-3,028
-3,258
-5,879
-3,481
-3,227
-2,994
-2,914
-3,292
-2,447
-3,258
-3,607
-3,919
-4,396
-3,462
-5,056
-5,542
-4,638
-5,685
-5,956
-6,265
0
-521
-6,485
-8,664
-6,972
-7,238
-9,921
0
0
0
-8,560
-8,967
-10,390
-17,322
-10,491
-16,855
-9,429
-13,191
-14,740
-15,622
-11,957
-13,905
-14,668
-15,428
-13,522
-14,416
-17,236
-15,324
-14,095
-15,228
-15,300
-16,285
-12,806
-15,015
-16,040
-15,815
-12,892
-16,032
-14,644
-13,825
-13,777
-14,179
-16,720
-19,213
-17,319
-18,435
-20,005
-17,468
-16,977
-17,871
-18,468
-18,052
-21,977
-17,980
-19,527
-25,619
-16,237
-47,753
-29,443
-22,935
-62,188
-22,242
-26,639
2,137
32
-4,832
2,583,172

2,583,172

-4,832

2,137

-26,639

-22,242

-62,188

-22,935

-29,443

-47,753

-16,237

-25,619

-19,527

-17,980

-21,977

-18,052

-18,468

-17,871

-16,977

-17,468

-20,005

-18,435

-17,319

-19,213

-16,720

-14,179

-13,777

-13,825

-14,644

-16,032

-12,892

-15,815

-16,040

-15,015

-12,806

-16,285

-15,300

-15,228

-14,095

-15,324

-17,236

-14,416

-13,522

-15,428

-14,668

-13,905

-11,957

-15,622

-14,740

-13,191

-9,429

-16,855

-10,491

-17,322

-10,390

-8,967

-8,560

-9,921

-7,238

-6,972

-8,664

-6,485

-521

-6,265

-5,956

-5,685

-4,638

-5,542

-5,056

-3,462

-4,396

-3,919

-3,607

-3,258

-2,447

-3,292

-2,914

-2,994

-3,227

-3,481

-5,879

-3,258

-3,028

-2,744

-2,998

-3,235

> Long-term Liabilities

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
10,200
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
15,000
20,300
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
60,000
60,000
60,000
60,000
40,000
40,000
20,000
20,000
15,000
15,000
23,200
32,200
15,000
19,969
20,023
20,077
20,131
20,185
20,238
20,291
20,343
72,395
24,795
5,493
5,540
5,586
5,628
5,666
5,703
5,739
5,772
5,802
5,831
9,640
17,315
17,303
16,611
15,535
26,636
27,457
30,386
29,897
26,023
25,357
27,088
25,848
25,739
24,473
3,925,317
22,946
3,273,870
3,350,400
3,472,556
759,627

759,627

3,472,556

3,350,400

3,273,870

22,946

3,925,317

24,473

25,739

25,848

27,088

25,357

26,023

29,897

30,386

27,457

26,636

15,535

16,611

17,303

17,315

9,640

5,831

5,802

5,772

5,739

5,703

5,666

5,628

5,586

5,540

5,493

24,795

72,395

20,343

20,291

20,238

20,185

20,131

20,077

20,023

19,969

15,000

32,200

23,200

15,000

20,000

40,000

60,000

5,000

20,300

15,000

5,000

10,200

Long term Debt Total

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,000
5,000
0
0
0
0
0
0
0
0
4,969
5,023
5,077
5,131
5,185
5,238
5,291
5,343
5,395
5,445
5,493
5,540
5,586
5,628
5,666
5,703
5,739
5,772
5,802
5,831
2,640
2,657
2,971
2,946
2,920
2,910
2,743
2,760
0
0
0
0
0
0
0
0
0
0
0
0
0

2,760

2,743

2,910

2,920

2,946

2,971

2,657

2,640

5,831

5,802

5,772

5,739

5,703

5,666

5,628

5,586

5,540

5,493

5,445

5,395

5,343

5,291

5,238

5,185

5,131

5,077

5,023

4,969

5,000

Capital Lease Obligations Min 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
-99,100
-55,000
-55,000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-22,181
0
0
0
-74,053
0
0
0
-6,519
-5,628
-5,666
-6,612
-6,479
-5,772
-6,078
0
0
0
0
0
0
0
0
99
0
0
0
0
0
0
0
0
0
-380,369
-267,352
-96,295
-7,704

-7,704

-96,295

-267,352

-380,369

-6,078

-5,772

-6,479

-6,612

-5,666

-5,628

-6,519

-74,053

-22,181

-55,000

-99,100

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
64,429
48,191
0
0
0
0
29,668
38,628
0
0
32,236
30,324
29,095
30,228
30,300
31,285
27,806
30,015
83,040
35,165
12,892
16,032
14,644
13,825
13,777
14,179
16,720
19,213
17,319
18,435
27,005
32,126
31,606
31,791
31,295
41,963
46,691
45,606
0
51,642
41,594
74,841
55,291
48,674
86,661
49,351
49,585
48,729
50,408
0
0

50,408

48,729

49,585

49,351

86,661

48,674

55,291

74,841

41,594

51,642

45,606

46,691

41,963

31,295

31,791

31,606

32,126

27,005

18,435

17,319

19,213

16,720

14,179

13,777

13,825

14,644

16,032

12,892

35,165

83,040

30,015

27,806

31,285

30,300

30,228

29,095

30,324

32,236

38,628

29,668

48,191

64,429

> Total Stockholder Equity

29,991
31,356
32,675
34,352
36,039
37,147
39,156
40,601
41,831
43,605
45,427
47,117
49,082
51,063
53,272
55,577
58,702
59,077
62,376
65,608
68,720
72,036
75,329
78,221
81,574
85,067
90,134
89,525
81,656
84,150
85,379
87,774
90,713
92,547
94,673
125,546
100,287
103,587
107,416
109,051
112,512
115,968
118,614
121,920
125,484
129,058
133,001
135,551
140,021
144,326
147,336
151,792
156,843
158,359
161,711
180,887
186,165
190,906
195,674
200,026
204,506
207,182
211,954
214,473
221,646
226,452
231,780
230,563
234,986
240,733
245,049
297,025
298,464
304,198
308,603
316,407
320,664
327,667
333,065
336,788
345,940
352,240
357,570
358,253
350,292
348,649
458,525
450,368
420,408
409,573
396,592
412,092
430,174
423,941
418,618
439,062

439,062

418,618

423,941

430,174

412,092

396,592

409,573

420,408

450,368

458,525

348,649

350,292

358,253

357,570

352,240

345,940

336,788

333,065

327,667

320,664

316,407

308,603

304,198

298,464

297,025

245,049

240,733

234,986

230,563

231,780

226,452

221,646

214,473

211,954

207,182

204,506

200,026

195,674

190,906

186,165

180,887

161,711

158,359

156,843

151,792

147,336

144,326

140,021

135,551

133,001

129,058

125,484

121,920

118,614

115,968

112,512

109,051

107,416

103,587

100,287

125,546

94,673

92,547

90,713

87,774

85,379

84,150

81,656

89,525

90,134

85,067

81,574

78,221

75,329

72,036

68,720

65,608

62,376

59,077

58,702

55,577

53,272

51,063

49,082

47,117

45,427

43,605

41,831

40,601

39,156

37,147

36,039

34,352

32,675

31,356

29,991

Common Stock

22,184
24,834
24,910
24,926
25,043
27,693
27,983
28,003
28,222
31,718
31,933
31,969
32,371
36,749
37,178
37,367
38,363
39,263
39,679
40,208
41,274
50,126
50,817
50,957
52,225
62,750
64,596
61,355
52,458
53,032
52,476
51,059
50,959
50,679
50,527
51,965
52,221
53,047
53,635
53,789
54,116
54,420
54,664
55,383
55,898
56,265
56,670
56,854
57,254
57,543
57,862
58,573
59,906
60,312
60,982
80,095
81,049
81,219
81,993
82,436
83,011
83,826
84,272
84,727
86,133
86,569
86,926
87,392
87,911
88,949
90,052
143,967
145,282
146,195
145,498
140,565
137,125
132,151
130,220
129,058
127,684
128,633
129,284
125,905
118,386
108,430
217,680
212,524
213,204
213,864
214,720
215,057
215,965
216,589
217,202
217,498

217,498

217,202

216,589

215,965

215,057

214,720

213,864

213,204

212,524

217,680

108,430

118,386

125,905

129,284

128,633

127,684

129,058

130,220

132,151

137,125

140,565

145,498

146,195

145,282

143,967

90,052

88,949

87,911

87,392

86,926

86,569

86,133

84,727

84,272

83,826

83,011

82,436

81,993

81,219

81,049

80,095

60,982

60,312

59,906

58,573

57,862

57,543

57,254

56,854

56,670

56,265

55,898

55,383

54,664

54,420

54,116

53,789

53,635

53,047

52,221

51,965

50,527

50,679

50,959

51,059

52,476

53,032

52,458

61,355

64,596

62,750

52,225

50,957

50,817

50,126

41,274

40,208

39,679

39,263

38,363

37,367

37,178

36,749

32,371

31,969

31,933

31,718

28,222

28,003

27,983

27,693

25,043

24,926

24,910

24,834

22,184

Retained Earnings

7,807
6,522
7,765
9,426
10,996
9,454
10,386
11,838
13,116
11,215
12,846
14,662
16,273
13,951
15,871
17,955
19,984
20,468
22,975
25,640
28,163
22,602
25,193
28,030
30,440
23,735
26,185
28,760
29,657
31,880
33,202
36,983
39,539
42,203
44,179
46,138
47,346
49,755
52,626
54,644
56,806
59,357
61,927
64,991
68,653
71,241
74,622
77,098
81,130
85,171
87,429
91,164
95,059
97,135
100,157
101,464
104,877
108,922
113,115
116,502
119,652
122,625
126,082
129,553
133,681
136,992
142,427
146,464
149,357
152,883
156,227
155,544
160,556
166,281
172,723
179,944
184,793
190,416
196,999
203,227
207,328
211,613
215,976
219,747
225,600
231,841
233,997
239,868
246,511
253,737
261,907
270,781
276,209
276,732
277,996
274,570

274,570

277,996

276,732

276,209

270,781

261,907

253,737

246,511

239,868

233,997

231,841

225,600

219,747

215,976

211,613

207,328

203,227

196,999

190,416

184,793

179,944

172,723

166,281

160,556

155,544

156,227

152,883

149,357

146,464

142,427

136,992

133,681

129,553

126,082

122,625

119,652

116,502

113,115

108,922

104,877

101,464

100,157

97,135

95,059

91,164

87,429

85,171

81,130

77,098

74,622

71,241

68,653

64,991

61,927

59,357

56,806

54,644

52,626

49,755

47,346

46,138

44,179

42,203

39,539

36,983

33,202

31,880

29,657

28,760

26,185

23,735

30,440

28,030

25,193

22,602

28,163

25,640

22,975

20,468

19,984

17,955

15,871

13,951

16,273

14,662

12,846

11,215

13,116

11,838

10,386

9,454

10,996

9,426

7,765

6,522

7,807

Capital Surplus

Treasury Stock

Other Stockholders Equity

0
0
0
0
0
0
787
760
493
672
648
0
0
0
0
0
0
0
0
0
0
0
0
0
52,225
62,750
64,596
61,355
52,458
53,032
52,476
51,059
50,959
50,679
50,527
51,965
52,221
53,047
53,635
53,789
54,116
54,420
54,664
55,383
55,898
56,265
56,670
56,854
57,254
57,543
57,862
2,055
1,878
0
0
-672
239
765
566
1,088
1,843
731
1,600
193
1,832
2,891
2,427
-3,293
-2,282
-1,099
-1,230
-2,486
-7,374
-8,278
-9,618
-4,102
-1,254
5,100
5,846
4,503
10,928
11,994
310
12,601
6,306
8,378
6,848
-2,024
-39,307
-58,028
-80,035
2,460,173
-62,000
-69,380
0
0

-69,380

-62,000

2,460,173

-80,035

-58,028

-39,307

-2,024

6,848

8,378

6,306

12,601

310

11,994

10,928

4,503

5,846

5,100

-1,254

-4,102

-9,618

-8,278

-7,374

-2,486

-1,230

-1,099

-2,282

-3,293

2,427

2,891

1,832

193

1,600

731

1,843

1,088

566

765

239

-672

1,878

2,055

57,862

57,543

57,254

56,854

56,670

56,265

55,898

55,383

54,664

54,420

54,116

53,789

53,635

53,047

52,221

51,965

50,527

50,679

50,959

51,059

52,476

53,032

52,458

61,355

64,596

62,750

52,225

648

672

493

760

787

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	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31
Accounts Payable	0	22,946	29,443	19,527	18,468	20,005	16,720	14,644	16,040	15,300	17,236	14,668	14,740	10,491	8,560	9,921	6,485	5,956	5,056	3,607	2,914	5,879	2,998	341,711	-	-
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	-	-
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	-	-
Accumulated Other Comprehensive Income	-53,006	-73,746	-2,024	12,601	4,503	-4,102	-2,486	-3,293	193	1,088	-672	2,055	1,599	1,546	618	388	-268	-590	-766	-240	254	486	760	336	-	-
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	0	0	0	-	-
Capital Lease Obligations	23,204	26,639	25,429	27,062	12,615	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Capital Stock	217,498	215,057	212,524	125,905	129,058	140,565	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Capital Surpluse	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	30,453	45,424	347,641	200,320	183,388	34,221	203,545	48,804	26,343	41,367	103,773	28,349	127,732	65,724	38,660	24,926	28,765	37,283	21,062	29,499	36,026	29,169	24,024	23,618	-	-
Cash And Equivalents	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	30,453	847,970	1,515,209	592,671	615,648	502,879	536,012	421,384	444,130	242,215	347,771	182,311	131,754	104,740	38,660	24,926	28,765	37,283	21,062	29,499	36,026	29,169	24,024	23,618	-	-
Common Stock	217,498	215,057	212,524	125,905	129,058	140,565	143,967	87,392	84,727	82,436	80,095	58,573	56,854	55,383	53,789	51,965	51,059	61,355	50,957	40,208	37,367	31,969	28,003	24,926	-	-
Common Stock Shares Outstanding	16,026	15,969	14,422	13,617	13,794	14,029	12,546	12,230	12,130	12,012	11,116	10,876	10,768	10,628	10,484	10,434	10,660	11,278	11,626	11,344	10,385	10,523	17,239	9,952	9,952	9,448
Common Stock Total Equity	0	215,057	212,524	125,905	129,058	140,565	143,967	87,392	84,727	82,436	80,095	58,573	56,854	0	0	0	0	0	50,957	40,208	37,367	31,969	28,003	24,926	-	-
Current Deferred Revenue	0	0	4,014	-7,535	5,853	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-	-
Deferred Long Term Liab	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Earning Assets	0	0	0	0	569,673	619,831	483,573	417,073	487,427	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Good Will	72,754	72,754	72,754	30,140	30,140	30,140	30,140	6,436	6,436	6,436	6,435	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Intangible Assets	3,766	5,116	6,605	3,831	4,684	5,571	6,492	2,580	3,113	3,732	10,938	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Inventory	-165,653	-58,948	-360,330	-211,242	-191,120	0	0	408	421	461	461	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Liabilities And Stockholders Equity	3,812,769	4,147,464	4,314,209	2,911,926	2,707,280	2,520,892	2,468,154	2,023,493	2,031,134	1,787,130	1,805,194	1,434,749	1,393,263	1,208,150	1,121,672	1,049,557	933,901	876,578	840,449	737,094	642,607	539,025	455,417	379,096	346,681	292,859
Long Term Debt	26,000	112,439	419	2,835	2,920	9,640	5,739	5,586	5,395	5,185	4,969	0	5,000	5,000	5,000	40,000	5,000	15,000	15,000	5,000	0	0	0	0	-	-
Long Term Debt Total	0	0	0	0	2,920	2,640	5,739	5,586	5,395	5,185	4,969	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Long Term Investments	1,477,226	1,774,303	1,509,790	501,387	569,673	619,670	483,499	417,018	498,524	1,348,252	1,255,098	1,060,291	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	-	-
Net Debt	18,751	93,654	-321,793	-170,423	-167,853	-24,581	-197,806	-43,218	46,052	-21,182	-83,804	-13,349	-87,732	-5,724	21,340	-19,926	-23,765	-32,283	-16,062	-24,499	-36,026	-29,169	-24,024	-23,618	-	-
Net Invested Capital	465,062	524,531	450,787	361,088	339,708	326,047	302,764	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Net Receivables	135,200	79,828	51,362	80,035	75,714	75,871	72,620	68,961	62,284	60,199	70,720	43,351	42,665	38,838	39,625	32,235	32,341	28,221	24,935	20,854	17,024	6,548	6,080	5,523	-	-
Net Tangible Assets	0	334,222	371,009	324,282	301,964	280,696	260,393	221,547	204,924	189,858	180,887	151,792	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Net Working Capital	-2,570,875	904,852	1,537,128	653,179	672,894	1,838,130	1,922,691	1,574,295	1,508,816	1,434,518	453,030	307,095	115,003	74,741	-24,900	118,515	54,621	59,548	40,941	46,746	50,135	29,837	27,105	0	-	-
Non Current Assets Total	3,769,564	1,885,128	1,620,311	565,889	621,569	662,757	528,743	434,554	506,278	337,312	9,110	9,344	9,498	8,419	8,043	8,292	107,992	97,819	113,706	115,894	127,234	68,688	86,635	89,220	-	-
Non Current Liabilities Other	0	49,585	55,291	0	31,295	27,005	16,720	14,644	83,040	30,300	32,236	29,668	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Non Current Liabilities Total	759,627	22,946	25,848	29,897	15,535	9,640	5,739	5,586	72,395	20,185	19,969	15,000	40,000	60,000	5,000	5,000	5,000	5,000	5,000	5,000	0	0	0	0	-	-
Non Currrent Assets Other	3,602,301	-54,588	-24,933	-23,395	-16,878	1,217,209	1,450,551	1,165,433	1,029,955	1,129,305	-366,493	-293,414	-196,853	-166,161	-128,214	-103,510	-107,992	-97,819	-113,706	-115,894	-127,234	-68,688	-86,635	-89,220	-	-
Noncontrolling Interest In Consolidated Entity	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 Assets	0	1,334,538	1,127,327	1,673,331	1,394,349	3,183,649	2,996,897	2,458,047	2,537,412	2,124,442	1,325,818	1,103,642	1,254,022	1,114,499	1,074,969	912,829	764,803	713,255	680,746	570,847	462,323	434,620	338,678	260,735	346,681	292,859
Other Current Assets	43,205	58,948	360,330	211,242	191,120	1,279,385	1,330,779	1,098,594	1,018,442	1,147,404	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Other Current Liab	2,583,172	-26,639	-29,443	-19,527	-18,468	-20,005	-16,720	-14,644	-16,040	-15,300	-17,236	-14,668	-14,740	-10,491	0	-9,921	-6,485	-5,956	-5,056	-3,607	-2,914	-5,879	-2,998	0	-	-
Other Liab	0	22,871	28,277	17,518	17,156	19,526	15,789	13,577	14,195	15,300	17,236	14,668	14,740	10,491	8,560	9,921	6,485	5,956	5,056	3,607	2,914	5,879	2,998	3,033	-	-
Other Stockholder Equity	0	4,301,962	-2,024	12,601	4,503	-4,102	-2,486	-3,293	193	1,088	-672	2,055	56,854	55,383	53,789	51,965	51,059	61,355	0	0	0	0	760	188	28,691	24,030
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	-	-
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	27,055	0	0	0	0	0	0	0	0	-	-
Property Plant And Equipment Gross	51,256	32,955	31,162	30,531	17,072	7,376	8,612	8,520	9,305	9,859	9,110	9,344	9,498	8,419	8,043	8,292	7,821	8,446	5,034	3,911	4,508	4,551	4,113	2,425	-	-
Property Plant And Equipment Net	28,108	32,955	31,162	30,531	17,072	7,376	8,612	8,520	9,305	9,859	9,110	9,344	9,498	8,419	8,043	8,292	7,821	8,446	5,034	3,911	4,508	4,551	4,113	2,425	-	-
Property Plant Equipment	0	32,955	31,162	30,531	17,072	7,376	8,612	8,520	9,305	9,859	9,110	9,344	9,498	8,419	8,043	8,292	7,821	8,446	5,034	3,911	4,508	4,551	4,113	2,425	-	-
Retained Earnings	274,570	270,781	239,868	219,747	203,227	179,944	155,544	146,464	129,553	116,502	101,464	91,164	77,098	64,991	54,644	46,138	36,983	28,760	28,030	25,640	17,955	14,662	11,838	9,239	-	-
Retained Earnings Total Equity	0	270,781	239,868	0	203,227	179,944	155,544	146,464	129,553	116,502	101,464	91,164	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Short Long Term Debt	0	0	0	0	0	0	6,479	6,519	74,053	22,181	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Short Long Term Debt Total	49,204	139,078	25,848	29,897	15,535	9,640	5,739	5,586	72,395	20,185	19,969	15,000	40,000	60,000	60,000	5,000	5,000	5,000	5,000	5,000	0	0	0	0	-	-
Short Term Debt	30,908	26,639	25,429	27,062	12,615	0	6,479	6,519	74,053	22,181	0	0	0	0	55,000	0	0	0	0	0	0	0	0	0	-	-
Short Term Investments	552,028	802,096	1,167,568	392,351	432,260	462,464	332,467	372,580	417,787	200,848	243,998	153,962	2,011	19,508	15,000	103,510	47,500	1,500	0	0	16,900	29,500	17,300	2,000	-	-
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	-	-
Total Assets	3,812,769	4,147,464	4,314,209	2,911,926	2,707,280	2,520,892	2,468,154	2,023,493	2,031,134	1,787,130	1,805,194	1,434,749	1,393,263	1,208,150	1,121,672	1,049,557	933,901	876,578	840,449	737,094	642,607	539,025	455,417	379,096	346,681	292,859
Total Current Assets	43,205	927,798	1,566,571	672,706	691,362	1,858,135	1,939,411	1,588,939	1,524,856	1,449,818	470,266	321,763	129,743	85,232	38,660	128,436	61,106	65,504	45,997	50,353	53,050	35,717	30,103	29,141	-	-
Total Current Liabilities	2,614,080	22,946	29,443	19,527	18,468	20,005	16,720	14,644	16,040	15,300	17,236	14,668	14,740	10,491	63,560	9,921	6,485	5,956	5,056	3,607	2,914	5,879	2,998	0	-	-
Total Liab	3,373,707	3,735,372	3,863,841	2,553,673	2,370,492	2,204,485	2,171,129	1,792,930	1,816,661	1,587,104	1,624,307	1,282,957	1,257,712	1,086,230	1,012,621	924,011	846,127	787,053	762,228	671,486	587,030	491,908	414,816	344,744	317,990	268,829
Total Permanent 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	-	-
Total Stockholder Equity	439,062	412,092	450,368	358,253	336,788	316,407	297,025	230,563	214,473	200,026	180,887	151,792	135,551	121,920	109,051	125,546	87,774	89,525	78,221	65,608	55,577	47,117	40,601	34,352	28,691	24,030
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	-	-
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	-	-

	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	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30	2000-03-31
Accounts Payable	0	28,872	25,188	23,296	22,946	22,242	62,188	22,935	29,443	47,753	16,237	25,619	19,527	17,980	21,977	18,052	18,468	17,871	16,977	17,468	20,005	18,435	17,319	19,213	16,720	14,179	13,777	13,825	14,644	16,032	12,892	15,815	16,040	15,015	12,806	16,285	15,300	15,228	14,095	15,324	17,236	14,416	13,522	15,428	14,668	13,905	11,957	15,622	14,740	13,191	9,429	16,855	10,491	17,322	10,390	8,967	8,560	9,822	8,167	10,992	9,921	7,238	6,972	8,664	6,485	521	776,477	6,265	5,956	5,685	4,638	5,542	5,056	3,462	4,396	3,919	3,607	3,258	2,447	3,292	2,914	2,994	3,227	3,481	5,879	3,258	3,028	2,744	2,998	3,235	366,299	356,831	341,711	349,384	339,068	319,192
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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-53,006	-76,580	-69,380	-62,000	-73,746	-80,035	-58,028	-39,307	-2,024	6,848	8,378	6,306	12,601	12,310	11,994	10,928	4,503	5,846	5,100	-1,254	-4,102	-9,618	-8,278	-7,374	-2,486	-1,230	-1,099	-2,282	-3,293	2,427	2,891	1,832	193	1,600	731	1,843	1,088	566	765	239	-672	572	912	1,878	2,055	2,045	1,612	1,637	1,599	1,709	1,552	933	1,546	2,023	2,191	1,590	618	1,155	785	720	388	-33	-335	215	-268	-299	-762	-459	-590	-647	-1,418	-1,091	-766	-681	-692	-717	-240	-278	-654	355	254	223	363	438	486	648	672	493	760	787	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Lease Obligations	23,204	24,040	25,220	25,433	26,639	26,744	24,117	25,351	25,429	26,637	24,919	25,993	27,062	27,626	24,574	23,726	12,615	13,665	14,332	14,349	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	217,498	217,202	216,589	215,965	215,057	214,720	213,864	213,204	212,524	217,680	108,430	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	30,453	123,132	39,657	37,993	45,424	185,552	115,905	170,901	347,641	584,739	257,543	142,819	200,320	213,584	397,699	156,274	183,388	182,486	58,757	51,639	34,221	142,718	83,855	159,347	203,545	149,124	137,906	73,162	48,804	96,930	55,438	39,770	26,343	35,315	117,533	103,164	41,367	46,424	81,380	91,567	103,773	99,358	32,175	31,364	28,349	141,438	98,321	139,827	129,743	130,675	88,043	109,850	85,232	73,546	69,183	35,811	23,660	63,589	46,376	19,587	24,926	20,464	30,355	28,328	28,765	25,562	29,360	31,088	37,283	31,521	34,091	33,675	21,062	32,467	33,415	35,328	29,499	32,407	32,635	36,355	36,026	36,784	34,251	28,393	29,169	33,421	33,898	26,798	24,024	23,154	0	0	21,618	0	0	0
Cash And Equivalents	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	1,477,226	1,717,089	1,757,407	1,794,086	847,970	998,045	1,009,154	1,126,459	1,515,310	1,547,874	775,751	661,633	592,917	627,295	828,807	606,484	617,455	546,537	442,976	501,473	502,879	548,289	471,992	583,229	536,012	407,216	376,776	314,846	421,384	475,926	378,799	376,004	444,130	369,171	371,551	307,844	242,215	283,117	297,253	321,904	347,771	218,698	161,737	174,017	182,311	141,438	98,321	141,839	129,743	132,786	110,159	128,960	85,232	73,546	69,183	35,811	38,660	63,589	46,376	19,587	24,926	20,464	30,355	28,328	28,765	25,562	29,360	31,088	37,283	31,521	34,091	33,675	21,062	32,467	33,415	35,328	29,499	32,407	32,635	36,355	36,026	36,784	34,251	28,393	29,169	33,421	33,898	26,798	24,024	23,154	0	0	0	0	0	0
Common Stock	217,498	217,202	216,589	215,965	215,057	214,720	213,864	213,204	212,524	217,680	108,430	118,386	125,905	129,284	128,633	127,684	129,058	130,220	132,151	137,125	140,565	145,498	146,195	145,282	143,967	90,052	88,949	87,911	87,392	86,926	86,569	86,133	84,727	84,272	83,826	83,011	82,436	81,993	81,219	81,049	80,095	60,982	60,312	59,906	58,573	57,862	57,543	57,254	56,854	56,670	56,265	55,898	55,383	54,664	54,420	54,116	53,789	53,635	53,047	52,221	51,965	50,527	50,679	50,959	51,059	52,476	53,032	52,458	61,355	64,596	62,750	52,225	50,957	50,817	50,126	41,274	40,208	39,679	39,263	38,363	37,367	37,178	36,749	32,371	31,969	31,933	31,718	28,222	28,003	27,983	27,693	25,043	24,926	24,910	24,834	22,184
Common Stock Shares Outstanding	16,052	16,036	16,016	15,999	16,001	15,974	15,955	15,946	16,027	14,993	13,164	13,469	13,615	13,610	13,585	13,656	13,703	13,735	13,818	13,924	14,033	14,110	14,066	14,011	13,100	12,382	12,348	12,344	12,284	12,234	12,218	12,180	12,166	12,134	12,124	12,096	12,074	12,028	11,986	11,960	11,394	11,076	11,018	10,974	10,902	10,910	10,838	10,850	10,850	10,780	10,770	10,732	10,732	10,622	10,616	10,590	10,590	10,548	10,428	10,368	10,368	10,418	10,452	10,476	10,476	10,602	10,658	10,815	10,815	11,291	11,238	11,752	11,752	11,573	11,743	12,094	11,590	11,282	10,870	10,652	10,652	10,410	10,416	10,759	10,759	17,515	10,131	10,356	10,356	17,239	9,499	9,586	0	0	9,384	9,319
Common Stock Total Equity	0	0	216,589	215,965	215,057	214,720	213,864	213,204	212,524	217,680	108,430	118,386	125,905	129,284	128,633	127,684	129,058	130,220	132,151	137,125	140,565	145,498	146,195	145,282	143,967	90,052	88,949	87,911	87,392	86,926	86,569	86,133	84,727	84,272	83,826	83,011	82,436	81,993	81,219	81,049	80,095	60,982	60,312	59,906	58,573	0	0	0	0	56,670	56,265	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	50,957	50,817	50,126	41,274	40,208	39,679	39,263	38,363	37,367	37,178	36,749	32,371	31,969	31,933	31,718	28,222	28,003	27,983	0	0	0	0	0	0
Current Deferred Revenue	0	0	0	0	0	0	0	-2,416	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	555,556	580,008	569,673	500,937	527,010	595,790	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	72,754	72,754	72,754	72,754	72,754	72,754	72,754	72,754	72,754	72,754	30,140	30,140	30,140	30,140	30,140	30,140	30,140	30,140	30,140	30,140	30,140	30,140	30,140	30,140	30,140	6,436	6,436	6,436	6,436	6,436	6,436	6,436	6,436	6,436	6,436	6,436	6,436	6,436	6,436	6,436	6,435	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	3,766	4,096	4,431	4,771	5,116	5,481	5,851	6,225	6,605	6,998	3,423	3,627	3,831	4,045	4,258	4,471	4,684	4,906	5,128	5,349	5,571	5,802	6,032	6,262	6,492	2,226	2,344	2,462	2,580	2,713	2,846	2,980	3,113	3,268	3,423	3,577	3,732	3,925	4,117	4,310	10,938	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Inventory	0	-216,273	-132,255	-50,239	-58,948	455	800	800	800	800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	238	238	238	408	408	408	421	421	421	421	421	461	461	461	-4,310	461	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	79,999	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Liabilities And Stockholders Equity	3,812,769	4,035,549	4,092,133	4,135,279	4,147,464	4,348,653	4,326,904	4,330,424	4,314,209	4,261,062	3,073,818	3,058,133	2,911,926	2,975,225	3,181,540	2,697,738	2,707,280	2,592,071	2,463,987	2,534,076	2,520,892	2,545,715	2,465,042	2,510,043	2,468,154	2,155,901	2,100,716	2,033,708	2,023,493	2,054,821	1,950,452	1,943,602	2,031,134	1,882,794	1,870,762	1,826,149	1,787,130	1,802,657	1,823,901	1,797,852	1,805,194	1,483,603	1,428,518	1,427,022	1,434,749	1,435,114	1,407,000	1,421,284	1,393,263	1,362,717	1,337,393	1,290,699	1,208,150	1,219,214	1,185,536	1,168,777	1,121,672	1,126,529	1,094,359	1,074,828	1,049,557	984,739	952,539	919,839	933,901	924,238	890,600	881,550	876,578	873,237	868,182	842,599	840,449	850,055	814,216	761,235	737,094	723,290	691,307	656,082	642,607	615,751	574,356	546,667	539,025	528,896	482,147	463,504	455,417	429,692	0	0	0	0	0	0
Long Term Debt	26,000	0	0	405,400	112,439	365	356	388	419	451	438	30	2,835	2,760	2,883	2,910	2,920	2,946	2,971	2,657	2,640	5,831	5,802	5,772	5,739	5,703	5,666	5,628	5,586	5,540	5,493	5,445	5,395	5,343	5,291	5,238	5,185	5,131	5,077	5,023	4,969	15,000	15,000	15,000	0	0	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	40,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	15,000	5,000	5,000	5,000	15,000	15,000	5,000	5,000	5,000	5,000	5,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Debt Total	0	0	0	0	0	0	0	0	0	0	0	0	0	2,760	2,743	2,910	2,920	2,946	2,971	2,657	2,640	5,831	5,802	5,772	5,739	5,703	5,666	5,628	5,586	5,540	5,493	5,445	5,395	5,343	5,291	5,238	5,185	5,131	5,077	5,023	4,969	0	0	0	0	0	0	0	0	5,000	5,000	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Investments	1,477,226	1,593,957	1,717,750	1,756,093	1,774,303	1,772,360	1,824,736	1,745,721	1,509,790	1,159,834	687,001	670,538	501,387	2,616,692	555,556	580,008	569,673	500,937	527,010	2,352,451	1,748,043	2,282,847	2,260,587	1,655,969	1,663,246	1,509,199	1,476,253	1,462,351	1,471,174	1,451,950	1,433,312	1,426,811	1,436,229	1,348,743	1,324,851	1,331,328	1,348,252	1,345,936	1,323,611	1,263,758	1,255,098	0	0	1,058,401	1,060,291	0	0	0	0	979,419	972,714	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	18,751	21,243	278,135	393,242	93,654	-158,443	-91,432	-145,162	-321,793	-557,651	-232,186	-116,796	-170,423	-183,198	-370,242	-129,638	-167,853	-165,875	-41,454	-34,324	-24,581	-136,887	-78,053	-153,575	-197,806	-143,421	-132,240	-67,534	-43,218	-91,390	-49,945	-14,975	46,052	-14,972	-97,242	-82,926	-21,182	-26,293	-61,303	-71,544	-83,804	-84,358	25	-8,164	-13,349	-126,438	-78,321	-119,827	-89,743	-90,675	-28,043	-49,850	-25,232	-13,546	-64,183	-30,811	-18,660	-3,589	13,624	84,513	-19,926	-15,464	-25,355	-23,328	-23,765	-5,262	-14,360	-26,088	-32,283	-26,521	-29,091	-28,675	-16,062	-27,467	-28,415	-30,328	-24,499	-27,407	-22,435	-36,355	-36,026	-36,784	-34,251	-28,393	-29,169	-33,421	-33,898	-26,798	-24,024	-23,154	0	0	0	0	0	0
Net Invested Capital	465,062	538,953	716,513	835,976	524,531	396,957	409,929	420,796	450,787	458,976	349,087	350,322	361,088	360,330	355,123	348,850	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	0	81,427	79,373	75,665	79,828	82,514	75,511	62,400	51,362	47,578	83,290	80,032	80,035	79,457	76,186	73,936	75,714	72,744	74,521	74,795	75,871	76,606	76,463	77,133	72,620	67,472	67,499	67,005	68,961	62,762	61,918	59,216	62,284	59,168	60,353	59,636	60,199	60,234	60,103	64,699	70,720	46,830	48,639	46,268	43,351	42,756	42,909	43,222	42,665	42,333	42,320	43,516	38,838	38,843	38,681	38,152	39,625	33,953	33,301	32,592	32,235	32,091	29,319	27,878	32,341	4,052	3,654	28,668	28,221	28,373	26,561	25,288	24,935	22,619	22,342	21,789	20,854	19,788	19,563	17,289	17,024	16,395	6,369	6,170	6,548	6,595	6,312	6,682	6,080	6,547	0	0	0	0	0	0
Net Tangible Assets	0	0	346,756	352,649	334,222	318,357	330,968	341,429	371,009	378,773	315,086	316,525	324,282	323,385	317,842	311,329	301,964	298,019	292,399	285,175	280,696	272,661	268,026	262,062	260,393	236,387	231,953	226,088	221,547	222,631	217,170	212,230	204,924	202,250	197,323	194,493	189,858	185,313	180,353	175,419	180,887	0	0	156,843	151,792	0	0	0	0	133,001	129,058	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Working Capital	-2,570,875	1,572,714	1,439,615	1,438,516	904,852	241,322	1,992,035	1,165,924	373,574	1,717,936	2,299,581	2,298,672	2,318,975	2,351,392	2,538,644	2,031,460	2,073,096	2,024,015	1,867,990	1,868,806	1,838,130	1,913,943	1,844,797	1,873,236	1,922,691	1,711,616	1,667,881	1,588,693	1,574,295	1,595,610	1,537,776	1,509,982	1,508,816	1,428,211	1,489,931	1,477,843	1,434,518	1,437,366	1,450,999	1,400,390	86,537	334,367	280,054	297,567	13,681	368,893	331,301	126,217	70,492	119,595	100,730	112,105	74,741	80,432	58,793	76,476	30,100	110,771	90,229	12,842	118,515	107,116	115,858	114,079	54,621	39,724	0	53,491	59,548	54,209	56,014	53,421	40,941	51,624	51,361	53,198	46,746	48,937	49,751	50,352	50,135	50,185	37,393	31,082	29,837	36,758	37,182	30,736	27,105	26,466	0	0	0	0	0	0
Non Current Assets Total	3,769,564	106,613	108,607	109,069	1,885,128	1,882,703	1,932,761	1,855,480	1,620,311	1,272,169	749,318	733,468	565,889	596,306	618,322	642,552	621,569	554,391	581,665	650,921	662,757	613,337	602,926	617,594	528,743	430,106	419,058	431,190	434,554	443,179	399,784	417,805	506,278	439,568	368,025	332,021	337,312	350,063	358,807	382,138	9,110	8,947	9,178	9,358	9,344	8,989	9,074	9,183	8,419	9,624	9,280	8,750	8,419	8,584	8,047	7,938	8,043	8,257	7,883	8,032	8,292	8,558	8,635	7,887	107,992	8,019	8,216	91,821	97,819	106,422	109,592	111,951	113,706	111,585	105,246	114,755	115,894	117,846	123,475	139,467	127,234	107,098	71,125	63,830	68,688	85,505	78,787	82,418	86,635	71,030	0	0	0	0	0	0
Non Current Liabilities Other	0	0	50,408	48,729	49,585	49,351	86,661	48,674	55,291	74,841	41,594	51,642	0	45,606	46,691	41,963	31,295	31,791	31,606	32,126	27,005	18,435	17,319	19,213	16,720	14,179	13,777	13,825	14,644	16,032	12,892	35,165	83,040	30,015	27,806	31,285	30,300	30,228	29,095	30,324	32,236	0	0	38,628	29,668	0	0	0	0	48,191	64,429	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Current Liabilities Total	759,627	3,472,556	3,350,400	3,273,870	22,946	3,925,317	24,473	25,739	25,848	27,088	25,357	26,023	29,897	30,386	27,457	26,636	15,535	16,611	17,303	17,315	9,640	5,831	5,802	5,772	5,739	5,703	5,666	5,628	5,586	5,540	5,493	24,795	72,395	20,343	20,291	20,238	20,185	20,131	20,077	20,023	19,969	15,000	32,200	23,200	15,000	15,000	20,000	20,000	40,000	40,000	60,000	60,000	60,000	60,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	20,300	15,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	10,200	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Currrent Assets Other	3,602,301	-1,593,957	-1,717,750	-1,756,093	-54,588	113,812	105,697	326,417	2,725,060	726,871	-749,318	-699,701	-531,918	-562,121	1,609,963	-607,941	1,504,489	1,352,198	1,294,474	1,233,688	1,217,209	1,217,738	1,217,332	1,158,072	1,450,551	1,161,185	1,139,609	1,112,463	1,165,433	1,086,419	1,110,515	1,083,698	1,029,955	983,910	1,031,640	1,073,736	1,129,305	1,075,745	1,044,756	4,310	-366,493	-249,425	-261,401	-281,631	-293,414	-241,360	-244,937	-210,367	-195,921	-200,666	-225,036	-162,702	-146,653	-147,922	-142,105	-127,536	-143,214	-112,004	-107,020	-103,347	-103,510	-93,890	-92,475	-94,415	-107,992	-113,620	-101,901	-91,821	-97,819	-106,422	-109,592	-111,951	-113,706	-111,585	-105,246	-114,755	-115,894	-117,846	-123,475	-139,467	-127,234	-107,098	-71,125	-63,830	-68,688	-85,505	-78,787	-82,418	-86,635	-71,030	0	0	0	0	0	0
Noncontrolling Interest In Consolidated Entity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Assets	0	2,211,847	2,226,119	2,156,459	1,334,538	2,197,884	377,991	1,286,085	2,294,895	1,244,320	3,073,818	3,058,133	2,911,926	2,975,225	3,181,540	2,697,738	3,328,849	3,146,462	3,045,652	3,184,997	3,183,649	3,159,052	3,067,968	3,127,637	2,996,897	2,586,007	2,519,774	2,464,898	2,458,047	2,498,000	2,350,236	2,361,407	2,537,412	2,322,362	2,238,787	2,158,170	2,124,442	2,152,720	2,182,708	2,179,990	1,692,311	1,125,873	1,125,764	1,104,669	1,397,056	1,043,327	1,054,668	1,270,262	1,299,612	1,220,307	1,217,954	1,152,989	1,114,499	1,112,876	1,108,306	1,075,396	1,074,969	942,679	933,080	943,862	912,829	861,827	821,074	789,209	764,803	875,974	751,164	729,973	713,255	706,921	697,938	671,685	680,746	683,384	653,213	589,363	570,847	553,249	515,634	462,971	462,323	455,474	462,611	448,274	434,620	403,375	363,150	347,606	338,678	328,961	73,045	80,997	92,318	103,590	100,358	85,357
Other Current Assets	43,205	134,846	52,882	50,239	58,948	-812,493	931,487	790,264	-1,167,669	1,393,441	1,465,459	1,583,000	1,673,085	1,672,167	1,658,225	1,374,766	1,392,542	1,418,399	1,364,825	1,306,887	1,279,385	1,307,483	1,313,661	1,232,087	1,330,779	1,251,107	1,237,383	1,220,667	1,098,594	1,072,954	1,109,951	1,090,577	1,018,442	1,014,887	1,070,833	1,126,648	1,147,404	1,109,243	1,107,738	1,033,421	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Current Liab	2,583,172	-4,832	32	2,137	-26,639	-22,242	-62,188	-22,935	-29,443	-47,753	-16,237	-25,619	-19,527	-17,980	-21,977	-18,052	-18,468	-17,871	-16,977	-17,468	-20,005	-18,435	-17,319	-19,213	-16,720	-14,179	-13,777	-13,825	-14,644	-16,032	-12,892	-15,815	-16,040	-15,015	-12,806	-16,285	-15,300	-15,228	-14,095	-15,324	-17,236	-14,416	-13,522	-15,428	-14,668	-13,905	-11,957	-15,622	-14,740	-13,191	-9,429	-16,855	-10,491	-17,322	-10,390	-8,967	-8,560	0	0	0	-9,921	-7,238	-6,972	-8,664	-6,485	-521	0	-6,265	-5,956	-5,685	-4,638	-5,542	-5,056	-3,462	-4,396	-3,919	-3,607	-3,258	-2,447	-3,292	-2,914	-2,994	-3,227	-3,481	-5,879	-3,258	-3,028	-2,744	-2,998	-3,235	0	0	0	0	0	0
Other Liab	0	0	24,320	23,062	22,871	22,159	62,010	22,494	28,277	46,405	16,184	24,367	17,518	15,329	19,180	15,312	17,156	16,148	15,744	16,732	19,526	18,280	17,152	19,213	16,720	14,179	13,777	13,825	14,644	16,032	12,892	15,815	16,040	15,015	12,806	16,285	15,300	15,228	14,095	15,324	17,236	14,416	13,522	15,428	14,668	13,905	11,957	15,622	14,740	13,191	9,429	16,855	10,491	17,322	10,390	8,967	8,560	9,822	8,167	10,992	9,921	7,238	6,972	8,664	6,485	7,755	14,750	6,265	5,956	5,685	4,638	5,542	5,056	3,462	4,396	3,919	3,607	3,258	2,447	3,292	2,914	2,994	3,227	3,481	5,879	3,258	3,028	2,744	2,998	3,235	2,860	3,659	3,033	2,353	1,718	1,912
Other Stockholder Equity	0	0	-69,380	-62,000	2,460,173	-80,035	-58,028	-39,307	-2,024	6,848	8,378	6,306	12,601	310	11,994	10,928	4,503	5,846	5,100	-1,254	-4,102	-9,618	-8,278	-7,374	-2,486	-1,230	-1,099	-2,282	-3,293	2,427	2,891	1,832	193	1,600	731	1,843	1,088	566	765	239	-672	0	0	1,878	2,055	57,862	57,543	57,254	56,854	56,670	56,265	55,898	55,383	54,664	54,420	54,116	53,789	53,635	53,047	52,221	51,965	50,527	50,679	50,959	51,059	52,476	53,032	52,458	61,355	64,596	62,750	52,225	0	0	0	0	0	0	0	0	0	0	0	0	0	648	672	493	760	787	0	0	0	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	27,055	0	0	0	0	0	0	0	0	0	0	0	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 Gross	51,256	29,763	31,422	31,544	32,955	32,108	0	0	0	0	28,754	29,163	30,531	31,307	28,368	27,933	17,072	18,408	19,387	19,702	7,376	7,602	7,965	8,297	8,612	8,230	8,390	8,336	8,520	8,611	8,650	8,909	9,305	9,537	9,673	9,852	9,859	9,277	9,296	9,036	9,110	8,947	9,178	9,358	9,344	8,989	9,074	9,183	9,498	9,624	9,280	8,750	8,419	8,584	8,047	7,938	8,043	8,257	7,883	8,032	8,292	8,558	8,635	7,887	7,821	8,019	8,216	8,259	8,446	7,208	6,328	5,161	5,034	4,819	3,999	3,784	3,911	4,082	4,155	4,332	4,508	4,184	4,244	4,434	4,551	4,302	4,502	3,954	4,113	2,931	0	0	0	0	0	0
Property Plant And Equipment Net	28,108	29,763	31,422	31,544	32,955	32,108	29,420	30,780	31,162	32,583	28,754	29,163	30,531	31,307	28,368	27,933	17,072	18,408	19,387	19,702	7,376	7,602	7,965	8,297	8,612	8,230	8,390	8,336	8,520	8,611	8,650	8,909	9,305	9,537	9,673	9,852	9,859	9,277	9,296	9,036	9,110	8,947	9,178	9,358	9,344	8,989	9,074	9,183	9,498	9,624	9,280	8,750	8,419	8,584	8,047	7,938	8,043	8,257	7,883	8,032	8,292	8,558	8,635	7,887	7,821	8,019	8,216	8,259	8,446	7,208	6,328	5,161	5,034	4,819	3,999	3,784	3,911	4,082	4,155	4,332	4,508	4,184	4,244	4,434	4,551	4,302	4,502	3,954	4,113	2,931	0	0	0	0	0	0
Property Plant Equipment	0	0	0	31,544	32,955	32,108	29,420	30,780	31,162	32,583	28,754	29,163	30,531	5,266	28,368	27,933	17,072	18,408	19,387	7,237	7,376	7,602	7,965	8,297	8,612	8,230	8,390	8,336	8,520	8,611	8,650	8,909	9,305	9,537	9,673	9,852	9,859	9,277	9,296	9,036	9,110	8,947	9,178	9,358	9,344	8,989	9,074	9,183	9,498	9,624	9,280	8,750	8,419	8,584	8,047	7,938	8,043	8,257	7,883	8,032	8,292	8,558	8,635	7,887	7,821	8,019	8,216	8,259	8,446	7,208	6,328	5,161	5,034	4,819	3,999	3,784	3,911	4,082	4,155	4,332	4,508	4,184	4,244	4,434	4,551	4,302	4,502	3,954	4,113	2,931	2,860	2,694	2,425	2,499	2,612	2,705
Retained Earnings	274,570	277,996	276,732	276,209	270,781	261,907	253,737	246,511	239,868	233,997	231,841	225,600	219,747	215,976	211,613	207,328	203,227	196,999	190,416	184,793	179,944	172,723	166,281	160,556	155,544	156,227	152,883	149,357	146,464	142,427	136,992	133,681	129,553	126,082	122,625	119,652	116,502	113,115	108,922	104,877	101,464	100,157	97,135	95,059	91,164	87,429	85,171	81,130	77,098	74,622	71,241	68,653	64,991	61,927	59,357	56,806	54,644	52,626	49,755	47,346	46,138	44,179	42,203	39,539	36,983	33,202	31,880	29,657	28,760	26,185	23,735	30,440	28,030	25,193	22,602	28,163	25,640	22,975	20,468	19,984	17,955	15,871	13,951	16,273	14,662	12,846	11,215	13,116	11,838	10,386	9,454	10,996	9,426	7,765	6,522	7,807
Retained Earnings Total Equity	0	0	276,732	276,209	270,781	261,907	253,737	246,511	239,868	233,997	231,841	225,600	0	215,976	211,613	207,328	203,227	196,999	190,416	184,793	179,944	172,723	166,281	160,556	155,544	156,227	152,883	149,357	146,464	142,427	136,992	133,681	129,553	126,082	122,625	119,652	116,502	113,115	108,922	104,877	101,464	0	0	95,059	91,164	0	0	0	0	74,622	71,241	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt	0	120,335	292,572	405,802	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	6,078	5,772	6,479	6,612	5,666	5,628	6,519	0	0	0	74,053	0	0	0	22,181	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt Total	49,204	144,375	317,792	431,235	139,078	27,109	24,473	25,739	25,848	27,088	25,357	26,023	29,897	30,386	27,457	26,636	15,535	16,611	17,303	17,315	9,640	5,831	5,802	5,772	5,739	5,703	5,666	5,628	5,586	5,540	5,493	24,795	72,395	20,343	20,291	20,238	20,185	20,131	20,077	20,023	19,969	15,000	32,200	23,200	15,000	15,000	20,000	20,000	40,000	40,000	60,000	60,000	60,000	60,000	5,000	5,000	5,000	60,000	60,000	104,100	5,000	5,000	5,000	5,000	5,000	20,300	15,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	10,200	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Term Debt	30,908	120,335	292,572	405,802	26,639	26,744	24,117	25,351	25,429	26,637	24,919	25,993	27,062	27,527	24,574	23,726	12,615	13,665	14,332	14,349	0	0	6,078	5,772	6,479	6,612	5,666	5,628	6,519	0	0	0	74,053	0	0	0	22,181	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	55,000	55,000	99,100	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Term Investments	552,028	658,815	770,942	797,533	802,096	812,493	893,149	955,457	1,167,568	963,033	517,963	518,568	392,351	413,464	429,775	448,868	432,260	358,724	378,131	442,885	462,464	405,571	388,137	423,882	332,467	258,092	238,870	241,684	372,580	378,996	323,361	336,234	417,787	333,856	254,018	204,680	200,848	211,582	215,873	230,337	243,998	119,340	129,562	142,653	153,962	241,360	244,937	2,012	19,508	2,111	22,116	19,110	19,508	24,208	18,706	49,632	15,000	112,004	107,020	103,347	103,510	93,890	92,475	94,415	47,500	15,000	101,901	0	1,500	0	0	0	0	0	0	0	0	0	0	0	16,900	0	0	0	29,500	0	0	0	17,300	0	0	0	2,000	0	0	0
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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Assets	3,812,769	4,035,549	4,092,133	4,135,279	4,147,464	4,348,653	4,326,904	4,330,424	4,314,209	4,261,062	3,073,818	3,058,133	2,911,926	2,975,225	3,181,540	2,697,738	2,707,280	2,592,071	2,463,987	2,534,076	2,520,892	2,545,715	2,465,042	2,510,043	2,468,154	2,155,901	2,100,716	2,033,708	2,023,493	2,054,821	1,950,452	1,943,602	2,031,134	1,882,794	1,870,762	1,826,149	1,787,130	1,802,657	1,823,901	1,797,852	1,805,194	1,483,603	1,428,518	1,427,022	1,434,749	1,435,114	1,407,000	1,421,284	1,393,263	1,362,717	1,337,393	1,290,699	1,208,150	1,219,214	1,185,536	1,168,777	1,121,672	1,126,529	1,094,359	1,074,828	1,049,557	984,739	952,539	919,839	933,901	924,238	890,600	881,550	876,578	873,237	868,182	842,599	840,449	850,055	814,216	761,235	737,094	723,290	691,307	656,082	642,607	615,751	574,356	546,667	539,025	528,896	482,147	463,504	455,417	429,692	406,306	396,529	379,096	384,412	372,142	351,095
Total Current Assets	43,205	1,717,089	1,757,407	1,869,751	927,798	268,066	2,016,152	1,188,859	399,003	1,744,573	2,324,500	2,324,665	2,346,037	2,378,919	2,563,218	2,055,186	2,085,711	2,037,680	1,882,322	1,883,155	1,858,135	1,932,378	1,862,116	1,892,449	1,939,411	1,725,795	1,681,658	1,602,518	1,588,939	1,611,642	1,550,668	1,525,797	1,524,856	1,443,226	1,502,737	1,494,128	1,449,818	1,452,594	1,465,094	1,415,714	103,773	348,783	293,576	312,995	28,349	382,798	343,258	141,839	85,232	132,786	110,159	128,960	85,232	97,754	69,183	85,443	38,660	175,593	153,396	122,934	128,436	114,354	122,830	122,743	61,106	40,245	131,220	59,756	65,504	59,894	60,652	58,963	45,997	55,086	55,757	57,117	50,353	52,195	52,198	53,644	53,050	53,179	40,620	34,563	35,717	40,016	40,210	33,480	30,103	29,701	0	0	0	0	0	0
Total Current Liabilities	2,614,080	144,375	317,792	431,235	22,946	26,744	24,117	22,935	25,429	26,637	24,919	25,993	27,062	27,527	24,574	23,726	12,615	13,665	14,332	14,349	20,005	18,435	17,319	19,213	16,720	14,179	13,777	13,825	14,644	16,032	12,892	15,815	16,040	15,015	12,806	16,285	15,300	15,228	14,095	15,324	17,236	14,416	13,522	15,428	14,668	13,905	11,957	15,622	14,740	13,191	9,429	16,855	10,491	17,322	10,390	8,967	8,560	64,822	63,167	110,092	9,921	7,238	6,972	8,664	6,485	521	0	6,265	5,956	5,685	4,638	5,542	5,056	3,462	4,396	3,919	3,607	3,258	2,447	3,292	2,914	2,994	3,227	3,481	5,879	3,258	3,028	2,744	2,998	3,235	0	0	0	0	0	0
Total Liab	3,373,707	3,616,931	3,668,192	3,705,105	3,735,372	3,952,061	3,917,331	3,910,016	3,863,841	3,802,537	2,725,169	2,707,841	2,553,673	2,617,655	2,829,300	2,351,798	2,370,492	2,259,006	2,136,320	2,213,412	2,204,485	2,237,112	2,160,844	2,211,579	2,171,129	1,910,852	1,859,983	1,798,722	1,792,930	1,823,041	1,724,000	1,721,956	1,816,661	1,670,840	1,663,580	1,621,643	1,587,104	1,606,983	1,632,995	1,611,687	1,624,307	1,321,892	1,270,159	1,270,179	1,282,957	1,287,778	1,262,674	1,281,263	1,257,712	1,229,716	1,208,335	1,165,215	1,086,230	1,100,600	1,069,568	1,056,265	1,012,621	1,019,113	990,772	974,541	924,011	890,066	859,992	829,126	846,127	838,859	806,450	799,894	787,053	783,103	783,115	761,025	762,228	774,726	742,180	692,515	671,486	660,914	632,230	597,380	587,030	562,479	523,293	497,585	491,908	483,469	438,542	421,673	414,816	390,536	369,159	360,490	344,744	351,737	340,786	321,104
Total Permanent 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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Stockholder Equity	439,062	418,618	423,941	430,174	412,092	396,592	409,573	420,408	450,368	458,525	348,649	350,292	358,253	357,570	352,240	345,940	336,788	333,065	327,667	320,664	316,407	308,603	304,198	298,464	297,025	245,049	240,733	234,986	230,563	231,780	226,452	221,646	214,473	211,954	207,182	204,506	200,026	195,674	190,906	186,165	180,887	161,711	158,359	156,843	151,792	147,336	144,326	140,021	135,551	133,001	129,058	125,484	121,920	118,614	115,968	112,512	109,051	107,416	103,587	100,287	125,546	94,673	92,547	90,713	87,774	85,379	84,150	81,656	89,525	90,134	85,067	81,574	78,221	75,329	72,036	68,720	65,608	62,376	59,077	58,702	55,577	53,272	51,063	49,082	47,117	45,427	43,605	41,831	40,601	39,156	37,147	36,039	34,352	32,675	31,356	29,991
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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 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	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31
Begin Period Cash Flow	45,424	347,641	200,320	183,388	34,221	203,545	48,804	26,343	41,367	103,773	28,349	129,743	85,232	38,660	24,926	76,265	38,783	22,262	29,499	52,926	58,669	41,324	23,618	47,849
Capital Expenditures	1,749	2,266	1,044	981	542	907	1,434	1,040	1,418	2,334	958	1,221	2,472	1,723	1,121	1,825	621	3,855	1,969	352	950	1,320	2,397	251
Cash And Cash Equivalents Changes	0	-302,217	147,321	0	149,167	-169,324	154,741	22,461	-15,024	-62,406	75,424	-101,394	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	0	0	0	993	1,359	3,231	-1,442	-176	-2,542	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	-14,971	-302,217	147,321	16,932	149,167	-169,324	154,741	22,461	-15,024	-62,406	75,424	-101,394	44,511	46,572	13,734	-51,339	37,482	16,521	-7,237	-23,427	-5,743	17,345	17,705	-24,231
Change In Working Capital	-1,771	-2,480	7,700	-5,766	-259	2,050	745	164	1,676	-2,755	5,042	-231	2,091	1,642	-6,468	2,723	-1,978	-611	-1,585	-2,809	-2,881	2,122	-522	-341
Change Receivables	0	0	0	0	0	0	0	324	-734	-143	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	-4,149	2,228	5,554	-5,135	-329	1,148	-278	324	-734	-143	-694	-435	-431	131	0	4	106	0	0	0	0	0	0	0
Change To Inventory	0	0	0	0	0	-1,858,517	-1,939,423	-1,589,046	-1,522,420	-1,452,390	0	0	2,319	1,161	0	0	0	0	0	0	0	0	0	0
Change To Liabilities	0	0	0	0	70	1,284	0	0	1,333	-2,588	28	0	0	97	57	123	0	292	89	0	0	0	0	0
Change To Netincome	0	8,691	12,025	8,258	1,161	-125	7,538	-351	1,240	262	6,931	2,989	0	0	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	-4,708	2,146	-631	70	902	1,023	-578	1,138	-2,494	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	3,448	3,329	2,875	3,002	3,115	3,064	2,470	2,355	2,587	2,356	1,464	1,355	2,018	1,344	1,370	1,587	1,396	1,485	1,667	2,519	2,099	882	710	615
Dividends Paid	16,106	15,673	13,107	12,506	10,958	8,860	6,896	6,223	5,390	4,733	3,970	3,751	3,457	3,205	3,411	2,882	2,649	2,448	1,007	1,824	0	0	0	0
End Period Cash Flow	30,453	45,424	347,641	200,320	183,388	34,221	203,545	48,804	26,343	41,367	103,773	28,349	129,743	85,232	38,660	24,926	76,265	38,783	22,262	29,499	52,926	58,669	41,324	23,618
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
Free Cash Flow	34,746	53,011	44,209	39,864	40,391	41,200	25,513	24,406	22,264	16,523	20,243	19,585	19,909	21,825	12,882	19,678	10,934	9,844	11,801	10,154	6,428	8,503	3,639	5,546
Investments	334,691	-375,486	-480,734	-173,443	-18,748	-225,352	7,813	24,318	-175,103	-40,318	-50,624	-143,321	0	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital 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
Net Borrowings	0	111,869	-18,011	-172	-7,000	2,863	2,863	-67,000	52,000	52,000	0	-25,000	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	19,895	46,586	33,228	30,242	34,241	32,622	15,976	23,134	18,441	19,771	14,270	17,817	15,564	13,552	12,765	12,150	12,324	11,883	11,737	9,518	7,473	6,242	5,148	4,523
Other Cashflows From Financing Activities	-283,273	-122,343	-166	-73	-220	-99	126,877	45,920	229,962	-33,878	95,141	51,416	99	72,675	181,845	101,545	86,625	24,631	91,324	86,281	99,024	74,529	70,468	25,845
Other Cashflows From Investing Activities	0	159,655	141,112	-1,117	-1,464	956	956	-3,924	-261,860	-492	14,634	-323	0	216	42	0	0	0	0	0	0	0	0	0
Other Non Cash Items	20,380	5,646	-1,847	-672	-895	-913	-845	-844	-814	-841	-954	-762	-752	6,460	5,723	5,043	-187	942	1,951	1,278	685	577	700	1,000
Sale Purchase Of Stock	-70	-1,250	-40,762	-6,898	-15,062	-6,869	88	1,227	1,139	1,487	2,258	1,070	93,893	0	-28,000	0	0	0	0	0	0	0	0	0
Stock Based Compensation	1,837	2,196	2,302	2,492	2,757	3,064	2,620	1,165	910	716	618	617	577	550	613	0	0	0	0	0	0	0	0	0
Total Cash From Financing Activities	-385,321	-139,397	442,734	149,530	128,988	13,872	119,981	-27,303	224,572	-38,611	91,171	22,665	57,068	69,487	59,614	98,663	44,576	22,183	90,317	84,457	99,024	74,529	70,468	26,474
Total Cash From Operating Activities	36,495	55,277	45,253	40,845	40,933	42,107	26,947	25,446	23,682	18,857	21,201	20,806	22,381	23,548	14,003	21,503	11,555	13,699	13,770	10,506	7,377	9,823	6,037	5,796
Total Cashflows From Investing Activities	0	-218,097	-340,666	-173,443	-20,754	-225,303	7,813	24,318	-263,278	-42,652	-36,948	-144,865	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	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30	2000-03-31
Begin Period Cash Flow	123,132	39,657	37,993	45,424	185,552	115,905	170,901	347,641	584,739	257,543	142,819	200,320	213,584	397,699	156,274	183,388	182,486	58,757	51,639	34,221	142,718	83,855	159,347	203,545	149,124	137,906	73,162	48,804	96,930	55,438	39,770	26,343	35,315	117,533	103,164	41,367	46,424	81,380	91,567	103,773	99,358	32,175	31,364	28,349	141,438	98,321	141,839	129,743	132,786	110,159	128,960	85,232	97,754	69,183	85,443	38,660	63,589	46,676	19,587	24,926	20,464	31,155	28,328	76,265	110,445	105,819	31,988	38,783	33,321	34,091	35,875	22,262	41,267	33,415	35,328	29,499	32,407	32,635	36,355	52,926	63,784	55,551	49,993	58,669	52,821	33,898	36,798	41,324	45,254	0	0	0	0	0	0	0
Capital Expenditures	12	86	385	1,438	1,504	408	224	130	211	68	621	144	212	527	96	146	123	175	177	67	292	169	214	232	291	329	517	297	388	413	182	57	224	305	475	414	965	364	663	342	323	112	173	350	698	260	237	26	333	673	844	622	146	875	469	233	135	709	187	90	78	274	1,089	384	120	120	381	114	1,602	516	1,391	346	435	1,023	417	94	64	164	60	64	589	173	58	130	482	20	548	-159	1,382	71	166	269	-74	-113	-93	0
Cash And Cash Equivalents Changes	0	0	1,664	-7,431	-140,128	69,647	-54,996	-176,740	-237,098	327,196	114,724	-57,501	0	-184,115	241,425	-27,114	902	123,729	7,118	17,418	-108,497	58,863	-75,492	-44,198	0	11,218	64,744	24,358	0	41,492	15,668	13,427	0	-82,218	14,369	61,797	0	-34,956	-10,187	-12,206	0	0	0	3,015	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Flows Other Operating	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	993	0	0	0	1,359	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 In Cash	-92,679	83,475	1,664	-7,431	-140,128	69,647	-54,996	-176,740	-237,098	327,196	114,724	-57,501	-13,264	-184,115	241,425	-27,114	902	123,729	7,118	17,418	-108,497	58,863	-75,492	-44,198	54,421	11,218	64,744	24,358	-48,126	41,492	15,668	13,427	-8,972	-82,218	14,369	61,797	-5,057	-34,956	-10,187	-12,206	4,415	67,183	811	3,015	-113,089	43,117	-43,518	12,096	-3,043	22,627	-18,801	43,728	-12,522	28,571	-16,260	46,783	-24,929	16,913	27,089	-5,339	4,462	-10,691	2,827	-47,937	-144,625	-101,199	0	-6,795	5,462	-770	-1,784	13,613	-19,005	7,852	-1,913	5,829	-2,908	-228	-3,720	-16,571	-10,858	8,233	5,558	-8,676	5,848	18,923	-2,900	-4,526	-3,930	0	0	0	0	0	0	0
Change In Working Capital	-8,895	5,194	830	1,100	779	3,078	-5,816	-521	1,295	6,319	-750	836	788	-7,196	1,050	-408	-1,244	3,699	-3,198	484	-187	1,844	-556	949	-64	991	-958	776	-1,616	3,525	-2,777	1,032	233	2,019	-1,682	1,106	-1,105	2,038	-1,498	-2,190	3,966	3,065	-1,322	-667	746	875	-3,370	1,518	259	2,147	-1,986	1,671	1,207	-139	-407	981	-5,899	503	-2,126	1,054	-727	-175	-2,795	6,420	-33	-398	0	1,503	526	-488	-1,324	675	-532	-747	-813	507	-353	260	-2,780	64	-149	-259	-453	-2,020	2,378	-53	654	-857	300	0	0	0	0	0	0	0
Change 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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Account Receivables	-4,345	1,550	-1,151	-203	-2	2,673	-5,091	4,648	-61	4,663	-1,949	2,901	212	-3,173	-2,467	293	-2,616	2,870	-2,224	1,641	-1,632	3,751	1,368	-2,339	-699	328	-1,212	1,305	-674	322	-48	724	-1,037	194	-347	456	-265	-17	28	111	-1,102	322	337	-251	-168	0	0	-364	-364	0	0	0	131	147	140	125	110	-110	106	50	4	106	199	-33	-33	-398	537	360	0	129	176	301	0	0	0	107	0	0	0	51	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Inventory	0	0	0	0	0	0	0	0	0	0	-2,324,500	-2,324,665	-2,346,037	-2,378,919	-2,563,218	-2,055,186	-2,085,711	-2,037,680	-1,882,322	-1,883,155	-1,858,239	-1,932,477	-1,862,209	-1,892,535	-1,939,461	-1,725,871	-1,681,689	-1,602,373	-1,589,877	-1,608,440	-1,553,337	-1,525,499	-1,523,573	-1,441,392	-1,504,073	-1,493,473	-1,450,662	-1,450,530	-1,466,618	-1,417,982	0	0	0	0	1,185	0	0	0	578	0	0	0	0	0	0	0	-6,084	554	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	70	0	0	0	1,284	0	0	0	0	0	0	-674	0	3,740	-2,854	10	0	0	0	0	0	0	0	0	28	0	0	0	0	0	0	0	0	0	25	61	97	150	100	40	57	40	58	1	123	57	3	0	0	125	52	24	292	181	74	0	89	3	31	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Netincome	0	0	3,503	4,004	3,445	3,307	4,434	1,014	3,213	7,275	-283	3,489	926	-5,802	12,697	2,297	-4,878	4,845	-1,856	3,050	-8,449	3,837	1,677	2,810	7,538	3,099	59	2,420	-351	2,856	-1,940	1,952	1,240	3,192	-1,047	1,429	-386	2,226	-825	-2,393	0	0	0	-737	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Operating Activities	0	0	1,981	1,981	781	405	-725	-5,169	1,356	1,656	1,199	-2,065	576	-4,023	3,517	-701	1,372	829	-974	-1,157	1,445	-1,907	-1,924	3,288	1,023	663	254	145	-578	1,339	1,552	0	1,138	0	0	0	-2,494	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	723	758	740	1,227	946	784	767	832	854	765	593	663	772	752	739	739	749	795	793	778	749	762	776	777	683	607	581	599	612	582	575	586	611	596	804	576	576	575	596	609	432	343	353	336	334	339	341	341	1,067	329	314	308	311	335	360	338	349	335	336	350	405	402	382	398	320	320	0	343	333	394	378	380	407	409	407	444	461	1,581	-290	767	1,354	250	248	247	233	241	196	212	200	0	0	0	0	0	0	0
Dividends Paid	4,036	4,030	4,028	4,012	4,007	4,004	3,840	3,822	3,843	3,126	3,044	3,094	3,130	3,128	3,121	3,127	2,851	2,865	2,612	2,630	2,441	2,238	2,166	2,015	1,793	1,788	1,660	1,655	1,650	1,529	1,526	1,518	1,454	1,316	1,313	1,307	1,305	1,185	1,123	1,120	1,038	982	979	971	967	966	910	908	907	852	851	847	844	789	787	785	784	730	724	1,173	721	719	722	720	670	670	1,305	625	652	655	641	500	495	495	17	0	1,824	1,824	1,824	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
End Period Cash Flow	30,453	123,132	39,657	37,993	45,424	185,552	115,905	170,901	347,641	584,739	257,543	142,819	200,320	213,584	397,699	156,274	183,388	182,486	58,757	51,639	34,221	142,718	83,855	159,347	203,545	149,124	137,906	73,162	48,804	96,930	55,438	39,770	26,343	35,315	117,533	103,164	41,367	46,424	81,380	91,567	103,773	99,358	32,175	31,364	28,349	141,438	98,321	141,839	129,743	132,786	110,159	128,960	85,232	97,754	69,183	85,443	38,660	63,589	46,676	19,587	24,926	20,464	31,155	28,328	-34,180	4,620	105,819	31,988	38,783	33,321	34,091	35,875	22,262	41,267	33,415	35,328	29,499	32,407	32,635	36,355	52,926	63,784	55,551	49,993	58,669	52,821	33,898	36,798	41,324	45,254	0	0	0	0	0	0
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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	811	13,460	7,669	12,006	14,822	18,935	7,905	11,349	12,716	12,489	6,712	12,292	9,316	1,162	20,007	9,379	9,609	14,118	6,202	10,462	10,531	12,348	9,354	8,967	6,212	7,902	4,728	6,671	4,743	9,407	2,715	7,541	6,368	7,660	2,764	5,472	3,805	7,240	3,680	1,798	6,238	7,161	3,065	3,779	6,081	6,216	1,185	6,103	4,648	5,665	3,636	5,960	6,721	4,525	4,574	6,005	-181	5,054	1,990	6,019	4,669	4,422	607	9,980	-1,490	-4,370	16,799	3,980	3,001	2,851	50	3,942	3,212	2,317	2,476	3,796	3,224	3,541	493	2,896	2,841	1,912	1,800	-125	4,047	1,949	2,542	783	670	0	0	0	0	0	0	0
Investments	158,205	127,881	26,049	32,884	5,068	-21,384	-67,808	-291,362	-128,266	-158,752	-24,628	-169,088	48,938	28,424	-248,642	-453	-116,534	-7,271	85,767	19,290	-76,879	-25,168	-33,778	-89,527	6,235	-45,339	-301	12,544	61,287	-61,999	11,252	100,879	-175,103	-93,700	-33,035	23,798	49,046	-14,340	-35,266	-2,836	0	0	0	12,598	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital 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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	0	-113,200	293,400	111,965	-33	-32	-31	-31	-13,885	-4	-4,126	-41	-41	-45	-45	-43	-42	-42	-7,000	2,863	2,863	2,863	0	0	0	0	0	-67,000	0	-19,350	-47,650	52,000	0	0	5	52,000	31	0	0	0	0	0	8,200	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Income	610	5,294	4,551	9,440	12,881	12,174	11,066	10,465	9,714	5,282	9,285	8,947	8,117	7,491	7,406	7,228	9,079	9,448	8,235	7,479	9,662	8,680	7,891	6,389	1,110	5,132	5,186	4,548	5,687	6,964	4,837	5,646	4,925	4,773	4,286	4,457	4,692	5,378	5,168	4,533	2,345	4,004	3,055	4,866	4,702	3,224	4,951	4,940	3,383	4,233	3,439	4,509	3,908	3,359	3,338	2,947	2,802	3,601	3,133	3,229	2,793	2,695	3,386	3,276	3,125	6,296	2,903	2,974	3,227	3,105	2,641	2,910	3,332	3,086	2,796	2,523	2,665	2,507	2,317	2,029	2,084	1,920	1,858	1,611	1,816	1,631	1,517	1,278	1,452	1,380	1,250	1,066	1,354	1,199	1,067	903
Other Cashflows From Financing Activities	-153,539	-53,713	-38,620	-29,135	-217,346	72,000	-30,561	53,531	-10	254,206	27,714	-156	-64,994	-210,532	473,226	-73	112,076	122,613	-18	-202	-35,129	75,151	-48,902	38,377	7,829	50,443	61,977	6,628	38,422	95,882	24,441	-45,825	145,037	5,138	45,953	33,834	-19,681	-26,671	22,522	-10,048	54,098	51,299	2,174	-12,430	20,018	28,275	-14,755	42,878	60,046	37,831	50,799	-21,151	-6,856	24,128	12,054	43,361	-5,175	27,028	19,685	21,487	59,469	29,423	32,173	-18,570	6,063	35,722	39,780	28,018	311	417	24,693	-790	-13,952	33,969	49,683	21,607	10,752	28,122	34,762	10,821	24,802	39,702	26,178	8,342	5,854	44,778	16,676	7,221	24,538	0	0	0	0	0	0	0
Other Cashflows From Investing Activities	0	0	10,567	-19,072	61,370	4,060	39,351	54,874	-193,265	252,061	-1,943	-36,543	-176	-176	-176	-941	428	-616	103,165	-1,892	956	956	956	0	414	170	170	170	-3,924	-269	-1,864	0	-136	0	0	0	-492	0	0	0	0	270	40	39	0	0	0	0	0	0	0	0	216	158	114	77	42	42	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Non Cash Items	9,831	-123	-362	-3,837	-1,240	11,882	9,409	49	-302	-1,217	-233	-95	-157	-156	-159	-200	-151	-720	-159	135	-228	-227	-230	-228	-217	-209	-210	-209	-218	-216	-209	-201	-204	-204	-203	-203	-209	-208	-211	-213	-188	-179	-186	-401	842	1,882	-670	-806	-667	-499	2,547	-85	1,373	1,682	1,574	1,831	2,558	1,163	687	1,315	2,276	1,774	723	270	-4,880	-10,918	0	-726	517	356	-254	323	440	592	503	416	515	-643	1,306	100	139	174	205	167	102	150	175	150	100	0	0	0	0	0	0	0
Sale Purchase Of Stock	-70	-15	65	-65	1,250	40	-11	-1,279	-5,311	-15,774	-10,885	-8,792	-3,565	45	470	-3,333	-1,783	-2,824	-5,815	-4,640	-5,535	-1,230	-14	532	0	13	706	119	0	22	138	976	0	130	470	312	0	460	9	677	0	0	0	1,072	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-950	-1,550	-810	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Stock Based Compensation	286	350	617	584	321	661	560	654	352	544	459	947	553	506	479	954	579	549	463	1,166	533	670	1,023	838	756	1,048	365	451	309	281	290	285	226	238	280	166	210	144	205	157	143	154	174	147	155	156	170	136	135	128	166	148	68	163	178	141	144	161	147	161	0	0	0	70	65	52	0	0	0	0	0	0	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 Cash From Financing Activities	-251,671	-57,780	-42,621	-33,249	-221,388	68,036	-34,444	48,399	71,717	221,398	13,781	135,838	-71,730	-213,701	470,060	-35,099	107,399	116,882	-84,851	-10,442	-43,105	71,683	-51,068	36,362	6,036	48,655	60,317	4,973	-30,228	94,353	3,565	-94,993	143,583	3,822	44,640	32,527	-20,986	-27,856	21,399	-11,168	53,060	50,317	1,195	-13,401	-5,949	22,309	-15,665	21,970	25,639	16,979	49,948	-35,498	-7,695	23,339	11,267	42,576	-5,965	26,298	18,961	20,320	58,748	28,704	31,451	-20,240	7,720	36,660	200	2,593	-341	-238	24,052	-1,290	-14,447	33,474	49,683	21,607	10,752	28,122	34,762	10,821	24,802	39,702	26,178	8,342	5,854	44,778	16,676	7,221	24,538	0	0	0	0	0	0	0
Total Cash From Operating Activities	823	13,374	8,054	13,444	16,326	19,343	8,129	11,479	12,927	12,557	7,333	12,436	9,528	1,689	20,103	9,525	9,732	14,293	6,379	10,529	10,823	12,517	9,568	9,199	6,503	8,231	5,245	6,968	5,131	9,820	2,897	7,598	6,592	7,965	3,239	5,886	4,770	7,604	4,343	2,140	6,561	7,273	3,238	4,129	6,779	6,476	1,422	6,129	4,981	6,338	4,480	6,582	6,867	5,400	5,043	6,238	-46	5,763	2,177	6,109	4,747	4,696	1,696	10,364	-1,370	-4,250	17,180	4,094	4,603	3,367	1,441	4,288	3,647	3,340	2,893	3,890	3,288	3,705	553	2,960	3,429	2,085	1,858	5	4,529	1,969	2,542	783	2,053	0	0	0	0	0	0	0
Total Cashflows From Investing Activities	0	0	36,231	12,374	64,934	-17,732	-28,681	-236,618	-321,742	93,241	93,610	-205,775	48,938	27,897	-248,738	-1,540	-116,229	-7,446	85,590	17,331	-76,215	-25,337	-33,992	-89,759	7,813	-45,668	-818	12,417	24,318	-62,681	9,206	100,822	-263,278	-94,005	-33,510	23,384	-42,652	-14,704	-35,929	-3,178	-36,948	18,258	8,665	12,287	-144,865	-30,946	-45,278	0	0	0	0	72,644	0	0	0	0	0	0	0	0	0	0	0	0	0	21,876	49,656	0	0	0	0	10,615	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31
Cost Of Revenue	4,941	0	0	0	0	3,536	2,244	419	2,751	3,099	2,325	5,476	12,345	11,798	12,677	15,827	19,784	17,844	11,584	6,286	5,854	6,806	9,685	9,937	-	-
Depreciation And Amortization	3,448	3,329	2,875	3,002	3,115	2,143	1,941	1,822	1,968	1,585	1,395	1,355	1,293	1,344	1,370	1,587	1,396	1,485	1,667	2,519	2,099	882	710	615	-	-
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	-	-
Ebit	61,419	66,058	44,886	40,587	45,894	47,874	31,111	39,282	31,801	34,589	24,063	31,284	30,775	28,171	27,710	30,845	39,201	35,126	29,154	20,678	17,282	16,367	17,266	16,184	3,650	3,028
Ebitda	64,867	69,387	47,761	43,589	49,009	50,017	33,052	41,104	33,769	36,174	25,458	32,639	32,068	29,515	29,080	32,432	40,597	36,611	30,821	23,197	19,381	17,249	17,976	16,800	3,650	3,028
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	-	-
Extraordinary Items	0	0	0	0	0	0	-3,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Gross Profit	139,494	138,397	115,083	105,209	104,764	101,683	83,120	82,322	76,380	79,482	66,841	70,302	70,088	60,430	57,749	53,715	48,460	45,705	43,150	35,880	30,616	27,841	23,329	2,638	2,039	1,851
Income Before Tax	26,036	63,509	44,886	40,587	45,894	43,417	28,838	36,480	28,931	31,469	22,209	28,708	24,755	21,723	20,543	20,028	20,102	18,548	19,111	15,326	12,113	10,139	8,281	7,248	-	-
Income Tax Expense	6,141	16,923	11,658	10,345	11,653	10,795	12,862	13,346	10,490	11,698	7,939	10,891	9,191	8,171	7,778	7,878	7,778	6,665	7,374	5,808	4,640	3,897	3,133	2,725	-3,650	-3,028
Interest Expense	11,562	2,549	3,402	2,979	4,757	3,536	1,744	2,269	2,251	2,349	1,785	2,576	5,295	6,448	7,167	10,817	19,099	16,578	10,043	5,352	5,169	6,228	8,985	8,937	0	0
Interest Income	139,494	130,041	108,353	99,638	100,437	95,080	76,596	75,430	69,438	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Net Income	19,895	46,586	33,228	30,242	34,241	32,622	15,976	23,134	18,441	19,771	14,270	17,817	15,564	13,552	12,765	12,150	12,324	11,883	11,737	9,518	7,473	6,242	5,148	4,523	3,650	3,028
Net Income Applicable To Common Shares	0	46,586	33,228	30,242	34,241	32,622	15,976	23,134	18,441	19,771	14,270	17,817	15,564	13,552	11,466	12,037	12,324	11,883	11,737	9,518	7,473	6,242	5,148	4,523	-	-
Net Income From Continuing Ops	19,895	46,586	33,228	30,242	34,241	32,622	15,976	23,134	18,441	19,771	14,270	17,817	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Net Interest Income	102,761	127,492	104,951	96,659	95,680	91,544	74,852	73,161	67,187	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Non Operating Income Net Other	0	-88,620	-21,281	0	11,839	-1,707	3,671	-5,658	-1,420	2,939	-4,720	752	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Non Recurring	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Operating Income	62,769	66,058	44,886	40,587	45,894	46,953	31,111	39,282	31,801	34,589	24,063	31,284	30,775	28,171	27,710	30,845	39,201	35,126	29,154	20,678	17,282	16,367	17,266	16,184	3,650	3,028
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	-	-
Other Operating Expenses	118,399	72,339	70,197	64,622	58,870	54,730	52,009	43,040	44,579	44,893	42,778	39,018	39,313	32,259	30,039	22,870	9,259	10,579	13,996	15,202	13,334	11,474	6,063	13,546	1,611	1,177
Preferred Stock And Other Adjustments	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	3,448	3,329	2,875	3,002	3,115	3,064	2,470	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-	-
Selling And Marketing Expenses	1,244	1,070	908	769	775	666	567	565	0	400	490	541	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Selling General Administrative	46,538	51,178	50,474	39,814	40,131	40,172	37,019	32,528	31,641	29,702	28,229	24,570	23,901	21,662	18,651	16,097	15,900	15,490	13,819	11,954	10,767	10,446	8,835	7,027	-	-
Tax Provision	6,141	16,923	11,658	10,345	11,653	10,795	12,862	13,346	10,490	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Total Operating Expenses	25,581	-72,339	-70,197	-64,622	-58,870	-54,730	-52,009	-43,040	-44,579	-44,893	-42,778	-39,018	-39,313	-32,259	-30,039	-22,870	-9,259	-10,579	-13,996	-15,202	-13,334	-11,474	-6,063	13,546	1,611	1,177
Total Other Income Expense Net	26,036	-2,549	44,886	40,587	45,894	-3,536	-2,273	-2,802	-2,870	-3,120	-1,854	-2,576	-6,020	-6,448	-7,167	-10,817	-19,099	-16,578	-10,043	-5,352	-5,169	-6,228	-8,985	-8,937	-	-
Total Revenue	144,435	138,397	115,083	105,209	104,764	101,683	83,120	82,322	76,380	79,482	66,841	70,302	70,088	60,430	57,749	53,715	48,460	45,705	43,150	35,880	30,616	27,841	23,329	2,638	2,039	1,851

	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	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30	2000-03-31
Cost Of Revenue	-3,283	-8,037	-7,752	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,745	669	566	556	1,011	423	399	411	132	-827	827	557	1,052	562	564	573	580	577	1,182	760	647	-1,525	1,525	204	1,207	2,781	756	732	3,448	2,505	4,134	2,258	2,355	3,036	3,098	3,309	4,339	2,880	2,504	2,954	4,414	4,402	3,145	3,866	4,566	5,242	5,036	4,940	5,202	4,744	4,165	3,733	3,375	3,344	2,730	2,135	1,960	1,678	1,305	1,343	1,379	1,413	1,490	1,572	1,641	1,774	1,715	1,676	2,074	2,318	2,640	2,653	2,605	2,563	2,514	2,255
Depreciation And Amortization	723	758	740	1,227	946	784	767	832	854	765	594	663	772	752	739	739	749	795	793	778	518	532	546	547	508	489	463	481	479	449	441	453	456	441	650	576	383	383	403	416	363	343	353	336	334	339	341	341	1,067	329	314	308	311	335	360	338	349	335	336	350	405	402	382	398	320	320	310	343	333	394	378	380	407	409	407	444	461	1,581	-290	767	1,354	250	248	247	233	241	196	212	200	0	0	0	0	0	0	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-1,081	17,195	16,023	8,349	18,478	17,200	15,609	14,771	14,170	7,368	12,984	13,765	11,591	10,471	10,669	10,835	13,725	13,453	12,299	11,174	14,966	12,703	11,367	8,838	7,212	8,359	8,286	7,254	9,549	11,721	8,531	9,481	8,413	8,260	7,461	7,521	8,458	9,251	8,960	7,920	4,240	6,797	5,155	7,871	7,832	5,707	8,952	8,793	5,956	8,869	6,720	8,505	7,637	7,001	7,069	6,464	6,257	7,571	6,810	7,072	6,950	7,095	8,173	8,627	9,330	20,145	9,417	9,626	9,379	8,999	8,464	8,284	8,508	7,890	6,873	5,883	5,862	5,432	4,921	4,463	4,571	4,353	4,322	4,036	4,519	4,282	3,996	3,570	4,318	2,221	0	0	0	0	0	0
Ebitda	-358	17,953	16,763	9,576	19,424	17,984	16,376	15,603	15,024	8,133	13,578	14,428	12,363	11,223	11,408	11,574	14,474	14,248	13,092	11,952	15,484	13,235	11,913	9,385	7,720	8,848	8,749	7,735	10,028	12,170	8,972	9,934	8,869	8,701	8,111	8,097	8,841	9,634	9,363	8,336	4,603	7,140	5,508	8,207	8,166	6,046	9,293	9,134	7,023	9,198	7,034	8,813	7,948	7,336	7,429	6,802	6,606	7,906	7,146	7,422	7,355	7,497	8,555	9,025	9,650	20,465	9,727	9,969	9,712	9,393	8,842	8,664	8,915	8,299	7,280	6,327	6,323	7,013	4,631	5,230	5,925	4,603	4,570	4,283	4,752	4,523	4,192	3,782	4,518	4,439	0	0	0	0	0	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	35,423	35,104	34,621	32,834	35,957	35,750	33,925	32,765	33,352	31,318	26,556	23,857	25,426	26,356	26,188	27,239	26,212	26,872	26,063	25,617	26,695	25,775	25,080	24,133	22,130	20,854	20,400	19,736	20,439	21,495	19,587	20,801	19,341	19,181	19,062	18,787	19,298	19,832	20,242	20,110	17,695	15,995	16,249	16,902	17,607	16,718	18,081	17,896	17,242	16,785	18,584	17,477	15,419	15,272	15,262	14,477	14,731	14,667	14,306	14,045	14,030	13,505	13,188	12,992	12,709	23,879	11,871	11,505	11,602	11,414	11,376	11,313	11,667	11,207	10,326	9,950	9,904	9,353	8,571	8,052	7,734	7,770	7,734	7,378	7,505	7,095	6,834	6,407	6,088	5,917	0	0	19,909	0	0	0
Income Before Tax	392	6,895	5,872	12,878	17,647	16,650	15,019	14,193	13,558	6,832	12,532	11,964	11,102	9,868	10,047	9,570	12,386	12,272	11,147	10,089	12,990	11,804	10,571	8,052	6,526	7,818	7,769	6,725	8,984	11,135	7,570	8,791	7,706	7,543	6,743	6,939	7,685	8,482	8,185	7,117	3,674	6,368	4,730	7,437	7,325	5,026	8,296	8,061	5,008	6,864	5,586	7,297	6,332	5,365	5,321	4,705	4,443	5,791	5,006	5,303	4,736	4,378	5,538	5,376	5,108	10,228	4,766	4,751	4,654	4,542	4,541	4,811	5,467	5,037	4,533	4,074	4,327	4,058	3,721	3,220	3,331	3,114	3,037	2,631	2,981	2,658	2,456	2,044	2,344	2,221	2,017	1,699	2,194	1,924	1,704	1,426
Income Tax Expense	-218	1,600	1,321	3,438	4,766	4,476	3,953	3,728	3,844	1,550	3,247	3,017	2,985	2,377	2,641	2,342	3,307	2,824	2,912	2,610	3,328	3,124	2,680	1,663	5,416	2,686	2,583	2,177	3,297	4,171	2,733	3,145	2,781	2,770	2,457	2,482	2,993	3,104	3,017	2,584	1,329	2,364	1,675	2,571	2,623	1,802	3,345	3,121	1,625	2,631	2,147	2,788	2,424	2,006	1,983	1,758	1,641	2,190	1,873	2,074	1,943	1,683	2,152	2,100	1,983	3,932	1,863	1,777	1,427	1,437	1,900	1,901	2,135	1,951	1,737	1,551	1,662	1,551	1,404	1,191	1,247	1,194	1,179	1,020	1,165	1,027	939	766	892	841	767	633	840	725	637	523
Interest Expense	1,380	10,635	10,491	4,448	831	550	590	578	612	536	453	1,801	489	603	622	1,265	1,339	1,181	1,152	1,085	1,745	669	566	556	511	423	399	411	432	453	827	557	552	562	564	582	580	577	582	610	497	429	425	434	507	681	656	732	948	2,005	1,134	1,208	1,305	1,636	1,748	1,759	1,814	1,780	1,804	1,769	2,214	2,717	2,635	3,251	4,222	9,917	4,961	4,875	4,725	4,457	3,923	3,473	3,041	2,853	2,340	1,809	1,535	1,374	1,200	1,243	1,240	1,239	1,285	1,405	1,538	1,624	1,540	1,526	1,974	2,218	0	0	8,937	0	0	0
Interest Income	35,423	35,104	34,621	34,347	34,201	33,577	31,787	30,476	31,245	28,289	24,987	23,832	24,088	25,169	24,997	25,384	25,233	25,332	24,941	24,931	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Income	610	5,295	4,551	9,440	12,881	12,174	11,066	10,465	9,714	5,282	9,285	8,947	8,117	7,491	7,406	7,228	9,079	9,448	8,235	7,479	9,662	8,680	7,891	6,389	1,110	5,132	5,186	4,548	5,687	6,964	4,837	5,646	4,925	4,773	4,286	4,457	4,692	5,378	5,168	4,533	2,345	4,004	3,055	4,866	4,702	3,224	4,951	4,940	3,383	4,233	3,439	4,509	3,908	3,359	3,338	2,947	2,802	3,601	3,133	3,229	2,793	2,695	3,386	3,276	3,125	6,296	2,903	2,974	3,227	3,105	2,641	2,910	3,332	3,086	2,796	2,523	2,665	2,507	2,317	2,029	2,084	1,920	1,858	1,611	1,816	1,631	1,517	1,278	1,452	1,380	1,250	1,066	1,354	1,199	1,067	903
Net Income Applicable To Common Shares	0	0	4,551	9,440	12,881	12,174	11,066	10,465	9,714	5,282	9,285	8,947	8,117	7,491	7,406	7,228	9,079	9,448	8,235	7,479	9,662	8,680	7,891	6,389	1,110	5,132	5,186	4,548	5,687	6,964	4,837	5,646	4,925	4,773	4,286	4,457	4,692	5,378	5,168	4,533	2,345	4,004	3,055	4,866	4,702	3,224	4,951	4,940	3,383	4,233	3,439	4,509	3,908	3,359	3,338	2,947	2,802	3,601	3,133	1,930	2,680	2,695	3,386	3,276	3,258	3,189	2,903	2,974	3,227	3,105	2,641	2,910	3,332	3,086	2,796	2,523	2,665	2,507	2,317	2,029	2,084	1,920	1,858	1,611	1,816	1,631	1,517	1,278	1,452	1,380	1,250	1,066	1,354	1,199	1,067	903
Net Income From Continuing Ops	610	5,295	4,551	9,440	12,881	12,174	11,066	10,465	9,714	5,282	9,285	8,947	8,117	7,491	7,406	7,228	9,079	9,448	8,235	7,479	9,662	8,680	7,891	6,389	12,758	5,132	5,186	4,548	30,681	6,964	4,837	5,646	18,441	4,773	4,286	4,457	19,771	5,378	5,168	4,533	0	0	0	4,866	0	0	0	0	0	4,233	3,439	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Interest Income	24,264	24,469	24,130	29,899	33,370	33,027	31,197	29,898	30,633	27,753	24,534	22,031	23,599	24,566	24,375	24,119	23,894	24,151	23,789	23,846	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-10,928	16,213	8,474	-31,816	-27,050	-38,228	-12,723	-2,274	2,798	-9,082	0	299	1,494	9,812	0	936	8,982	3,939	0	-2,120	-1,131	-6,170	0	-362	1,961	1,674	0	-831	2,119	2,923	0	1,523	-1,803	1,317	0	-344	976	1,415	0	0	0	-303	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Recurring	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Operating Income	1,186	17,530	16,023	8,349	18,478	17,200	15,609	14,771	14,170	7,368	12,984	13,765	11,591	10,471	10,669	10,835	-110,239	13,453	12,299	11,174	-106,064	12,703	11,367	8,838	7,212	8,359	8,286	7,254	9,549	11,721	8,531	9,481	8,413	8,260	7,461	7,521	8,458	9,251	8,960	7,920	4,240	6,797	5,155	7,871	7,832	5,707	8,952	8,793	5,956	8,869	6,720	8,505	7,637	7,001	7,069	6,464	6,257	7,571	6,810	7,072	6,950	7,095	8,173	8,627	9,330	20,145	9,417	9,626	9,379	8,999	8,464	8,284	8,508	7,890	6,873	5,883	5,862	5,432	4,921	4,463	4,571	4,353	4,322	4,036	4,519	4,282	3,996	3,570	4,318	4,439	2,892	2,601	3,044	2,778	2,534	2,267
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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	31,748	17,574	7,752	24,485	39,258	18,550	18,316	17,994	19,182	23,950	13,572	10,092	13,835	15,885	15,519	16,404	31,687	13,419	13,764	14,443	31,076	13,072	13,713	15,295	14,918	12,495	12,114	12,482	10,890	9,774	11,056	11,320	10,928	10,921	11,601	11,266	23,211	10,581	11,282	12,190	18,976	9,198	11,094	9,031	18,663	11,011	9,129	9,103	18,392	7,916	11,864	8,972	16,379	8,271	8,193	8,013	15,362	7,096	7,496	6,973	7,080	6,410	5,015	4,365	3,379	3,734	2,454	1,879	2,223	2,415	2,912	3,029	3,159	3,317	3,453	4,067	4,042	3,921	3,650	3,589	3,163	3,417	3,412	3,342	2,986	2,813	2,838	2,837	1,770	1,478	0	0	0	0	0	0
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	723	758	740	1,227	946	784	767	832	854	765	594	663	772	752	739	739	749	795	793	778	749	762	776	777	683	607	581	599	612	582	575	586	611	596	804	576	576	575	596	609	432	343	353	336	334	339	341	341	1,067	329	314	308	311	335	360	338	349	335	336	350	405	402	382	398	320	320	0	343	333	394	378	380	407	409	407	444	461	1,581	-290	767	1,354	250	248	247	233	241	196	212	200	0	0	0	0	0	0	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	12,693	319	300	278	281	221	221	347	305	189	175	239	197	163	158	251	187	183	194	211	240	118	130	179	208	155	131	73	187	177	98	103	0	75	46	76	94	107	87	111	168	90	114	117	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	2,752	11,482	12,739	11,540	11,920	12,756	12,598	13,904	13,637	15,727	10,416	10,694	9,808	10,081	9,236	10,689	9,032	9,804	10,517	10,778	9,523	9,640	9,977	11,032	10,455	8,811	8,822	8,931	7,834	8,280	8,167	8,247	7,553	7,753	8,180	7,812	6,796	7,117	7,249	8,540	9,574	6,245	6,349	6,061	5,907	6,028	6,192	6,443	5,509	6,151	6,343	5,898	5,283	5,544	5,421	5,414	4,772	4,686	4,810	4,727	3,725	4,179	4,035	4,158	3,909	7,828	4,163	3,963	3,734	3,732	4,112	3,912	3,530	3,448	3,301	3,540	3,167	3,173	2,804	2,810	2,471	2,706	2,722	2,868	2,675	2,627	2,549	2,595	2,264	2,164	2,472	2,532	2,239	2,258	2,072	2,102
Tax Provision	-218	1,600	1,321	3,438	4,766	4,476	3,953	3,728	3,844	1,550	3,247	3,017	2,985	2,377	2,641	2,342	3,307	2,824	2,912	2,610	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	6,596	-17,574	-18,598	-24,485	39,258	-18,550	-18,316	-17,994	-19,182	-23,950	-13,572	-10,092	-13,835	-15,885	-15,519	-16,404	31,687	-13,419	-13,764	-14,443	31,076	-13,072	-13,713	-15,295	-14,918	-12,495	-12,114	-12,482	-10,890	-9,774	-11,056	-11,320	-10,928	-10,921	-11,601	-11,266	-23,211	-10,581	-11,282	-12,190	-18,976	-9,198	-11,094	-9,031	-18,663	-11,011	-9,129	-9,103	-18,392	-7,916	-11,864	-8,972	-16,379	-8,271	-8,193	-8,013	-15,362	-7,096	-7,496	-6,973	-7,080	-6,410	-5,015	-4,365	-3,379	-3,734	-2,454	-1,879	-2,223	-2,415	-2,912	-3,029	-3,159	-3,317	-3,453	-4,067	-4,042	-3,921	-3,650	-3,589	-3,163	-3,417	-3,412	-3,342	-2,986	-2,813	-2,838	-2,837	-1,770	-1,478	0	0	0	0	0	0
Total Other Income Expense Net	392	-10,635	-10,151	4,529	-831	-550	-590	-578	-612	-536	-452	-1,801	-489	-603	-622	-1,265	110,972	-1,181	-1,152	-1,085	91,613	-899	-796	-786	-686	-541	-517	-529	-565	-586	-961	-690	-707	-717	-718	-582	-773	-769	-775	-803	-566	-429	-425	-434	-507	-681	-656	-732	-948	-2,005	-1,134	-1,208	-1,305	-1,636	-1,748	-1,759	-1,814	-1,780	-1,804	-1,769	-2,214	-2,717	-2,635	-3,251	-4,222	-9,917	-4,651	-4,875	-4,725	-4,457	-3,923	-3,473	-3,041	-2,853	-2,340	-1,809	-1,535	-1,374	-1,200	-1,243	-1,240	-1,239	-1,285	-1,405	-1,538	-1,624	-1,540	-1,526	-1,974	-2,218	0	0	0	0	0	0
Total Revenue	32,140	27,067	26,869	32,834	35,957	35,750	33,925	32,765	33,352	31,318	26,556	23,857	25,426	26,356	26,188	27,239	26,212	26,872	26,063	25,617	26,695	25,775	25,080	24,133	22,130	20,854	20,400	19,736	20,439	21,495	19,587	20,801	19,341	19,181	19,062	18,787	19,298	19,832	20,242	20,110	17,695	15,995	16,249	16,902	17,607	16,718	18,081	17,896	17,242	16,785	18,584	17,477	15,419	15,272	15,262	14,477	14,731	14,667	14,306	14,045	14,030	13,505	13,188	12,992	12,709	23,879	11,871	11,505	11,602	11,414	11,376	11,313	11,667	11,207	10,326	9,950	9,904	9,353	8,571	8,052	7,734	7,770	7,734	7,378	7,505	7,095	6,834	6,407	6,088	5,917	0	0	29,846	0	0	0

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

Gross Profit (+$)
totalRevenue	144,435
Cost of Revenue	-4,941
Gross Profit	139,494	139,494

Operating Income (+$)
Gross Profit	139,494
Operating Expense	-25,581
Operating Income	62,769	113,913

Operating Expense (+$)
Research Development	0
Selling General Administrative	46,538
Selling And Marketing Expenses	1,244
Operating Expense	25,581	47,782

Net Interest Income (+$)
Interest Income	139,494
Interest Expense	-11,562
Other Finance Cost	-25,171
Net Interest Income	102,761

Pretax Income (+$)
Operating Income	62,769
Net Interest Income	102,761
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	26,036	36,733 EBIT - interestExpense = 49,857 26,036 31,457
Interest Expense	11,562
Earnings Before Interest and Taxes (EBIT)	61,419	37,598
Earnings Before Interest and Taxes (EBITDA)	64,867

After tax Income (+$)
Income Before Tax	26,036
Tax Provision	-6,141
Net Income From Continuing Ops	19,895	19,895
Net Income	19,895
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	118,399
Total Other Income/Expenses Net	26,036	-102,761

Technical Analysis of Bank of Marin Bancorp
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 Bank of Marin Bancorp. The general trend of Bank of Marin Bancorp is UNKNOWN with 0.0% 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 Bank of Marin Bancorp'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 State	Bullish trend		Bearish trend
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 Bank of Marin Bancorp.

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: 15.79 < 15.80 < 16.86.

The bearish price targets are: 14.61 > 12.38.

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Bank of Marin Bancorp 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 Bank of Marin Bancorp. The current mas is .

Directionalities and relatives.

Moving Average	Amount of candles	Trend	Price +/-	vs. MA 50	vs. MA 100	vs. MA 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.

Bank of Marin Bancorp 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 Bank of Marin Bancorp.

Bank of Marin Bancorp 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 Bank of Marin Bancorp. The current adx is .

Bank of Marin Bancorp 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 Bank of Marin Bancorp.

Bank of Marin Bancorp 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 Bank of Marin Bancorp.

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.

Bank of Marin Bancorp 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 Bank of Marin Bancorp.

Bank of Marin Bancorp 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 Bank of Marin Bancorp.

Bank of Marin Bancorp 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 Bank of Marin Bancorp.

Bank of Marin Bancorp 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 Bank of Marin Bancorp.

Bank of Marin Bancorp Daily Williams %R Chart

4. Volatility Indicators

4.1 Bollinger Bands

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

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

Score

Let's take a look at the Bollinger Bands of Bank of Marin Bancorp.

Bank of Marin Bancorp 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 Bank of Marin Bancorp.

Bank of Marin Bancorp 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 Bank of Marin Bancorp.

Bank of Marin Bancorp 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 Bank of Marin Bancorp.

Bank of Marin Bancorp Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for Bank of Marin Bancorp.

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
2023-12-05	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-07	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-08	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2023-12-11	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-13	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
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-14	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-15	RSI	SHORT ENTRY	LONG CLOSE	70 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	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-28	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-29	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
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-03	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-04	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-05	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-08	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-09	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-01-10	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-16	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-17	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-22	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-23	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-24	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-25	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-29	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	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).
2024-01-31	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	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).
2024-02-01	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2024-02-02	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-02-05	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-07	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-12	RSI	LONG ENTRY	SHORT CLOSE	30 crossover to upside
2024-02-13	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).
2024-02-14	RSI	LONG ENTRY	SHORT CLOSE	30 crossover to upside
	MFI	SHORT ENTRY	LONG CLOSE	20 crossover to downside
2024-02-15	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
	MFI	LONG ENTRY	SHORT CLOSE	20 crossover to upside
2024-02-20	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-22	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-02-23	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-26	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-02-27	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-02-29	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-01	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
2024-03-05	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2024-03-12	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-14	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-03-15	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-18	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.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-03-19	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2024-03-20	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-21	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-03-22	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.
	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).
2024-03-26	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2024-03-27	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-28	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-04-01	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
2024-04-02	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-04-05	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2024-04-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-10	STOCH	LONG EXIT		The %K line crosses below the %D line.
	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).
2024-04-12	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-16	STOCH	LONG EXIT		The %K line crosses below the %D 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.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-04-22	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-04-23	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-04-24	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-04-25	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside

6.3. Candlestick Patterns

Bank of Marin Bancorp Daily Candlestick Chart

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of Bank of Marin Bancorp based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Open	Greater than	Close	15.530
Total			1/1 (100.0%)

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Quick analysis of Bank of Marin Bancorp (30 sec.)

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

How much money do you get?

What is your share worth?

+ What do you gain per year?

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1. Valuation of Bank of Marin Bancorp (5 min.)

$15.44

$27.11

$-8.60 - $17.65

$18.51 - $44.76

2. Growth of Bank of Marin Bancorp (5 min.)

Is Bank of Marin Bancorp growing?

How much money is Bank of Marin Bancorp making?

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

3. Financial Health of Bank of Marin Bancorp (5 min.)

4. Comparing to competitors in the Banks - Regional industry (5 min.)

Industry Rankings (Banks - Regional)

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

What can you expect buying and holding a share of Bank of Marin Bancorp?

Speculation

Investing

How much money are you going to get?

When do you get the money?

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Linear %

Fundamentals of Bank of Marin Bancorp

About Bank of Marin Bancorp

Financial Health

Valuation

1.1. Profitability of Bank of Marin Bancorp.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

Compared to industry (Banks - Regional)

1.1.2. Return on Assets

Trends

Compared to industry (Banks - Regional)

1.1.3. Return on Equity

Trends

Compared to industry (Banks - Regional)

1.2. Operating Efficiency of Bank of Marin Bancorp.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

1.2.2. Operating Ratio

Trends

1.3. Liquidity of Bank of Marin Bancorp.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Banks - Regional)

1.3.2. Quick Ratio

Trends

1.4. Solvency of Bank of Marin Bancorp.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

Compared to industry (Banks - Regional)

1.4.2. Debt to Equity Ratio

Trends

Compared to industry (Banks - Regional)

2. Market Valuation of Bank of Marin Bancorp

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Banks - Regional)

Bank of Marin Bancorp
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