Sierra Bancorp
Buy, Hold or Sell?

Let's analyse Sierra Bancorp together

Penke I guess you are interested in Sierra 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 Sierra 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 Sierra Bancorp (30 sec.)

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

How much money do you get?

$0.92

When do you have the money?

1 year

How often do you get paid?

100.0%

What is your share worth?

Current worth

$22.86

Expected worth in 1 year

$25.48

How sure are you?

82.5%

+ What do you gain per year?

Total Gains per Share

$3.55

Return On Investment

18.9%

For what price can you sell your share?

Current Price per Share

$18.75

Expected price per share

$15.75 - $20.28

How sure are you?

50%

1. Valuation of Sierra Bancorp (5 min.)

Live pricePrice per Share (EOD)

$18.75

Book Value per Share

$22.86

Intrinsic Value Per Share

$-5.28 - $20.42

Total Value Per Share

$17.58 - $43.28

My calculation of the intrinsic value of Sierra 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: ($0.58) 3Y: ($0.75) TTM: ($0.87)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($-0.01) 3Y: ($-0.04) TTM: ($0.07)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$1.86	$2.88	$1.68 - $2.88
2	$3.02	$5.55	$1.03 - $2.75
3	$3.56	$8.01	$0.37 - $2.62
4	$3.53	$10.29	$-0.28 - $2.48
5	$3.01	$12.38	$-0.94 - $2.35
6	$2.04	$14.30	$-1.59 - $2.22
7	$0.68	$16.06	$-2.25 - $2.09
8	$-1.02	$17.66	$-2.90 - $1.95
9	$-3.02	$19.11	$-3.55 - $1.82
10	$-5.28	$20.42	$-4.21 - $1.69

2. Growth of Sierra Bancorp (5 min.)

Is Sierra Bancorp growing?

	Current year	Previous year	Grow	Grow %
How rich?	$338m	$305.8m	$2.5b	89.2%

How much money is Sierra Bancorp making?

	Current year	Previous year	Grow	Grow %
Making money	$8.7m	$8.4m	$296.2k	3.4%
Net Profit Margin	23.9%	3,899.3%	-	-

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

Quarterly Yearly

3. Financial Health of Sierra 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 Sierra Bancorp? (5 min.)

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

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

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

Speculation

The Price per Share of Sierra Bancorp is $18.75. 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 Sierra 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 Sierra 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 $22.86. Based on the TTM, the Book Value Change Per Share is $0.66 per quarter. Based on the YOY, the Book Value Change Per Share is $-0.86 per quarter.
You may receive quarterly/yearly dividend in the form of additional shares.
You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is $0.23 per quarter.

Based on historical numbers we can estimate the returns while holding a share of Sierra 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	0.43	2.3%	0.59	3.1%	0.56	3.0%	0.60	3.2%	0.47	2.5%
Usd Book Value Change Per Share	-224.19	-1,195.7%	0.66	3.5%	-0.86	-4.6%	0.26	1.4%	0.26	1.4%
Usd Dividend Per Share	0.23	1.2%	0.23	1.2%	0.23	1.2%	0.21	1.1%	0.16	0.9%
Usd Total Gains Per Share	-223.96	-1,194.5%	0.89	4.7%	-0.63	-3.4%	0.47	2.5%	0.43	2.3%
Usd Price Per Share	22.55	-	18.93	-	21.93	-	22.57	-	21.97	-
Price to Earnings Ratio	13.26	-	8.51	-	10.07	-	9.57	-	24.82	-
Price-to-Total Gains Ratio	-0.10	-	-2.78	-	-106.02	-	4.74	-	29.01	-
Price to Book Ratio	0.99	-	0.30	-	1.08	-	0.95	-	1.22	-
Price-to-Total Gains Ratio	-0.10	-	-2.78	-	-106.02	-	4.74	-	29.01	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	18.75
Number of shares	53

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.23	0.21
Usd Book Value Change Per Share	0.66	0.26
Usd Total Gains Per Share	0.89	0.47
Gains per Quarter (53 shares)	46.98	24.97
Gains per Year (53 shares)	187.94	99.88

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	49	139	178	45	55	90
2	98	278	366	90	110	190
3	147	417	554	135	165	290
4	196	556	742	180	220	390
5	245	695	930	225	275	490
6	294	834	1118	270	330	590
7	343	973	1306	315	384	690
8	392	1112	1494	360	439	790
9	441	1251	1682	405	494	890
10	490	1390	1870	450	549	990

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%	39.0	1.0	0.0	97.5%	96.0	1.0	0.0	99.0%
Book Value Change Per Share	2.0	2.0	0.0	50.0%	6.0	6.0	0.0	50.0%	14.0	6.0	0.0	70.0%	30.0	10.0	0.0	75.0%	82.0	14.0	1.0	84.5%
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%	96.0	0.0	1.0	99.0%
Total Gains per Share	2.0	2.0	0.0	50.0%	7.0	5.0	0.0	58.3%	15.0	5.0	0.0	75.0%	33.0	7.0	0.0	82.5%	88.0	9.0	0.0	90.7%

Fundamentals of Sierra Bancorp

About Sierra Bancorp

https://www.sierrabancorp.com
Banks - Regional
491
86 North Main Street, Porterville, CA, United States, 93257
Google Maps Bing Maps

Sierra Bancorp operates as the bank holding company for Bank of the Sierra that provides retail and commercial banking services to individuals and businesses in California. It accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts. The company's loan products include agricultural, commercial, consumer, real estate, construction, and mortgage loans. It also offers automated teller machines; electronic point-of-sale payment alternatives; online and automated telephone banking services; and remote deposit capture and automated payroll services for business customers. Sierra Bancorp was founded in 1977 and is headquartered in Porterville, California.

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

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 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 very 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 underpriced.
Based on how much money comes from the company's main activities, the company is cheap.

1.1. Profitability of Sierra Bancorp.

1.1. Profitability

1.1.1. Net Profit Margin

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

Above 10% is considered healthy but always compare Sierra Bancorp to the Banks - Regional industry mean.
A Net Profit Margin of 9.7% means that $0.10 for each $1 in revenue is generated as profit.

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

The MRQ is 9.7%. The company is making a profit. +1
The TTM is 23.9%. The company is making a huge profit. +2

Trends

Current period		Compared to		+/-
MRQ	9.7%	TTM	23.9%	-14.2%
TTM	23.9%	YOY	3,899.3%	-3,875.4%
TTM	23.9%	5Y	802.6%	-778.8%
5Y	802.6%	10Y	412.6%	+390.0%

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	9.7%	18.4%	-8.7%
TTM	23.9%	28.0%	-4.1%
YOY	3,899.3%	25.2%	+3,874.1%
5Y	802.6%	22.8%	+779.8%
10Y	412.6%	19.8%	+392.8%

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

Revenue is the amount of profit Sierra 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 Sierra 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 Sierra 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, Sierra Bancorp makes more profit. This shows the investor how efficiently Sierra Bancorp is operating in general and compared to other companies in the same industry. Sierra 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 Sierra 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 Sierra Bancorp is 0.10. This means that Sierra Bancorp earned $0.10 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 Sierra Bancorp is performing over time. The most recent quarter might be important if Sierra 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 Sierra 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 Sierra Bancorp with other companies in the same industry (Banks - Regional).
Net profit margin should rise over the years.
Can be influenced when Sierra Bancorp sells assets (profit will increase while costs remain the same).
It won’t show what part of Sierra 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 Sierra 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 Sierra Bancorp = 6,289
Total revenue MRQ Sierra Bancorp = 64,988
$6,289 / $64,988 = 0.10 or 9.7%

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 Sierra Bancorp is using its assets to generate profit.

Above 5% is considered healthy but always compare Sierra Bancorp to the Banks - Regional industry mean.
0.2% Return on Assets means that Sierra Bancorp generated $0.00 profit for each $1 in assets.

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

The MRQ is 0.2%. Using its assets, the company is inefficient in making profit. -1
The TTM is 0.2%. Using its assets, the company is inefficient in making profit. -1

Trends

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

Compared to industry (Banks - Regional)

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

Shows how efficient Sierra 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 Sierra 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 Sierra Bancorp is using its resources to generate profit. If the return on assets (0.2%) from Sierra Bancorp are higher than the Banks - Regional mean (0.1%) that means Sierra 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 Sierra Bancorp is 0.2%. 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 Sierra Bancorp is performing over time. The most recent quarter might be important if Sierra 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 Sierra 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 Sierra Bancorp

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

Income statement
Balance sheet

Net income MRQ (income statement) from Sierra Bancorp = 6,289
Total assets MRQ (balance sheet) from Sierra Bancorp = 3,742,808
6,289 / 3,742,808 = 0.00 or 0.2%

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

Above 15%-20% is considered healthy but always compare Sierra Bancorp to the Banks - Regional industry mean.
1.9% Return on Equity means Sierra Bancorp generated $0.02 for each $1 the owners (shareholders) invested.

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

The MRQ is 1.9%. Using its investors money, the company is inefficient in making profit. -1
The TTM is 2.8%. Using its investors money, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	1.9%	TTM	2.8%	-0.9%
TTM	2.8%	YOY	2.8%	+0.0%
TTM	2.8%	5Y	2.8%	-0.1%
5Y	2.8%	10Y	2.6%	+0.3%

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	1.9%	1.4%	+0.5%
TTM	2.8%	2.5%	+0.3%
YOY	2.8%	2.7%	+0.1%
5Y	2.8%	2.5%	+0.3%
10Y	2.6%	2.8%	-0.2%

Shows how efficient Sierra 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 Sierra 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 Sierra Bancorp is 1.9%. This means Sierra Bancorp generated $0.02 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 Sierra Bancorp is performing over time. The most recent quarter might be important if Sierra 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 Sierra Bancorp up to 10 years back (depending if Sierra 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 Sierra Bancorp

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Sierra Bancorp = 6,289
Shareholders equity (balance sheet) MRQ Sierra Bancorp = 338,097
6,289 / 338,097 = 0.02 or 1.9%

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 Sierra Bancorp.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Sierra Bancorp is operating .

Measures how much profit Sierra 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 Sierra Bancorp to the Banks - Regional industry mean.
An Operating Margin of 0.0% means the company generated $0.00 for each $1 in revenue (before taxes).

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

The MRQ is 0.0%. The data is not here.

Trends

Current period		Compared to		+/-
MRQ	-	TTM	34.0%	-34.0%
TTM	34.0%	YOY	6,392.8%	-6,358.9%
TTM	34.0%	5Y	1,312.8%	-1,278.8%
5Y	1,312.8%	10Y	675.4%	+637.3%

Measures how efficient Sierra 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 Sierra 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 Sierra 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 Sierra Bancorp is 0.0%. This means that Sierra Bancorp earned $0.00 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 Sierra Bancorp is performing over time. The most recent quarter might be important if Sierra 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 Sierra 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 Sierra Bancorp

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Sierra Bancorp = 57,171
Total revenue MRQ Sierra Bancorp = 64,988
$57,171 / $64,988 = 0.00 or 0.0%

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 Sierra Bancorp is keeping operating costs low.

Below 1 is considered healthy (always compare to Banks - Regional industry mean).
An Operation Ratio of 0.12 means that the operating costs are $0.12 for each $1 in net sales.

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

The MRQ is 0.120. The company is very efficient in keeping operating costs low. +2
The TTM is -0.368.

Trends

Current period		Compared to		+/-
MRQ	0.120	TTM	-0.368	+0.488
TTM	-0.368	YOY	62.928	-63.296
TTM	-0.368	5Y	12.315	-12.683
5Y	12.315	10Y	6.040	+6.275

Measures how efficient Sierra 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 Sierra 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 Sierra Bancorp is 12.0%. This means that Sierra Bancorp earned $0.12 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 Sierra Bancorp is performing over time. The most recent quarter might be important if Sierra 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 Sierra 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 Sierra 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
(0 +7,817) \ 64,988 = 0.12

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 Sierra Bancorp.

1.3. Liquidity

1.3.1. Current Ratio

Measures if Sierra 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 0.05 means the company has $0.05 in assets for each $1 in short-term debts.

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

The MRQ is 0.046. The company is unable to pay all its short-term debts. -2
The TTM is 2.593. The company is able to pay all its short-term debts. +1

Trends

Current period		Compared to		+/-
MRQ	0.046	TTM	2.593	-2.547
TTM	2.593	YOY	4.125	-1.532
TTM	2.593	5Y	51.007	-48.414
5Y	51.007	10Y	54.820	-3.813

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
TTM	2.593	0.124	+2.469
YOY	4.125	0.225	+3.900
5Y	51.007	0.219	+50.788
10Y	54.820	0.131	+54.689

Measures if Sierra 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 Sierra 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 Sierra Bancorp is 0.05. This means Sierra Bancorp has $0.05 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 Sierra Bancorp is performing over time. The most recent quarter might be important if Sierra 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 Sierra 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 Sierra Bancorp

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
98,949 \ 2,171,556) = 0.05

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

Above 1 is considered healthy but always compare Sierra Bancorp to the Banks - Regional industry mean.
A Quick Ratio of 0.44 means the company can pay off $0.44 for each $1 in debt (using most liquid assets).

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

The MRQ is 0.443. The company is just not able to pay all its short-term debts with the most liquid assets. -1
The TTM is 5.061. The company is very able to pay all its short-term debts with the most liquid assets. +2

Trends

Current period		Compared to		+/-
MRQ	0.443	TTM	5.061	-4.619
TTM	5.061	YOY	8.056	-2.995
TTM	5.061	5Y	31.491	-26.429
5Y	31.491	10Y	39.175	-7.684

Measures if Sierra 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 Sierra 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 Sierra Bancorp can pay off its short term debts. This shows if Sierra 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 Sierra Bancorp is 0.44. This means that Sierra Bancorp can pay off $0.44 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 Sierra Bancorp is performing over time. The most recent quarter might be important if Sierra 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 Sierra 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 Sierra 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 Sierra Bancorp: (-78,602 + 1,019,201 +20,347) / 2,171,556 = 0.44

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 Sierra Bancorp.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

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

Below 1 (100%) is considered healthy but always compare Sierra Bancorp to Banks - Regional industry mean.
A Debt to Asset Ratio of 0.91 means that Sierra Bancorp assets are financed with 91.0% credit (debt) and the remaining percentage (100% - 91.0%) is financed by its owners/shareholders.

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

The MRQ is 0.910. The company is just able to pay all its debts by selling its assets.
The TTM is 0.242. The company is very able to pay all its debts by selling its assets. +2

Trends

Current period		Compared to		+/-
MRQ	0.910	TTM	0.242	+0.668
TTM	0.242	YOY	0.912	-0.670
TTM	0.242	5Y	0.765	-0.522
5Y	0.765	10Y	0.827	-0.063

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	0.910	0.915	-0.005
TTM	0.242	0.917	-0.675
YOY	0.912	0.919	-0.007
5Y	0.765	0.919	-0.154
10Y	0.827	0.927	-0.100

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

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

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Sierra 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 Sierra Bancorp is 0.91. This means means that Sierra Bancorp is financed with 91.0% 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 Sierra Bancorp is performing over time. The most recent quarter might be important if Sierra 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 Sierra 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 Sierra Bancorp has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Sierra Bancorp

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

Balance sheet
Debt to asset ratio = total debt \ total assets
3,404,711 \ 3,742,808 = 91.0% or 0.91.

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 Sierra Bancorp is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare Sierra Bancorp to the Banks - Regional industry mean.
A Debt to Equity ratio of 1,007.0% means that company has $10.07 debt for each $1 in shareholders equity.

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

The MRQ is 10.070. The company is unable to pay all its debts with equity. -1
The TTM is 2.696. The company is unable to pay all its debts with equity. -1

Trends

Current period		Compared to		+/-
MRQ	10.070	TTM	2.696	+7.374
TTM	2.696	YOY	10.428	-7.732
TTM	2.696	5Y	7.469	-4.773
5Y	7.469	10Y	7.797	-0.328

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	10.070	10.829	-0.759
TTM	2.696	11.013	-8.317
YOY	10.428	11.363	-0.935
5Y	7.469	11.437	-3.968
10Y	7.797	13.038	-5.241

Measures if Sierra 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 Sierra 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 Sierra Bancorp is 10.07. This means that Sierra Bancorp can pay off $10.07 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 Sierra Bancorp is performing over time. The most recent quarter might be important if Sierra 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 Sierra 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 Sierra Bancorp

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
3,404,711 \ 338,097 = 10.07 or 1,007.0%

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

Common shares.
Preferred shares.
Retained earnings.

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

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

2. Market Valuation of Sierra 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 Sierra Bancorp generates.

Above 15 is considered overpriced but always compare Sierra Bancorp to the Banks - Regional industry mean.
A PE ratio of 13.26 means the investor is paying $13.26 for every $1 in earnings.

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

The EOD is 11.022. Based on the earnings, the company is underpriced. +1
The MRQ is 13.256. Based on the earnings, the company is underpriced. +1
The TTM is 8.513. Based on the earnings, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	11.022	MRQ	13.256	-2.234
MRQ	13.256	TTM	8.513	+4.743
TTM	8.513	YOY	10.066	-1.553
TTM	8.513	5Y	9.565	-1.052
5Y	9.565	10Y	24.820	-15.255

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
EOD	11.022	7.604	+3.418
MRQ	13.256	6.680	+6.576
TTM	8.513	5.295	+3.218
YOY	10.066	6.943	+3.123
5Y	9.565	9.770	-0.205
10Y	24.820	9.943	+14.877

Measures how much money you pay for each share for every $1 in earnings Sierra 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 Sierra 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 Sierra Bancorp is 13.26. This means the investor is paying $13.26 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 Sierra Bancorp is performing over time. The most recent quarter might be important if Sierra 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 Sierra 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 Sierra 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 \ 14,588 = EPS
PE ratio MRQ = 13.26

* 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 Sierra Bancorp:

The EOD is 17.120. Based on how much money comes from the company's main activities, the company is underpriced. +1
The MRQ is 20.590. Based on how much money comes from the company's main activities, the company is underpriced. +1
The TTM is 8.563. Based on how much money comes from the company's main activities, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	17.120	MRQ	20.590	-3.470
MRQ	20.590	TTM	8.563	+12.027
TTM	8.563	YOY	-88.703	+97.265
TTM	8.563	5Y	-10.452	+19.014
5Y	-10.452	10Y	3.582	-14.034

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
EOD	17.120	-2.126	+19.246
MRQ	20.590	-1.868	+22.458
TTM	8.563	-0.342	+8.905
YOY	-88.703	6.448	-95.151
5Y	-10.452	0.429	-10.881
10Y	3.582	0.091	+3.491

2. Book Value per Share

2.3. Price to Book Ratio

Measures if the stock price of Sierra 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 0.99 means the investor is paying $0.99 for each $1 in book value.

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

The EOD is 0.820. Based on the equity, the company is cheap. +2
The MRQ is 0.986. Based on the equity, the company is cheap. +2
The TTM is 0.301. Based on the equity, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	0.820	MRQ	0.986	-0.166
MRQ	0.986	TTM	0.301	+0.686
TTM	0.301	YOY	1.076	-0.776
TTM	0.301	5Y	0.953	-0.652
5Y	0.953	10Y	1.221	-0.269

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
EOD	0.820	0.439	+0.381
MRQ	0.986	0.386	+0.600
TTM	0.301	0.470	-0.169
YOY	1.076	0.642	+0.434
5Y	0.953	0.795	+0.158
10Y	1.221	1.025	+0.196

2. Total Gains per Share

3. Holders & Insider Transactions

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

3.1. Institutions holding Sierra Bancorp

Institutions are holding 56.61% of the shares of Sierra Bancorp.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	BlackRock Inc	9.3739	0.0008	1386755	69582	5.2827
2023-12-31	Dimensional Fund Advisors, Inc.	6.7368	0.0066	996631	3348	0.3371
2023-12-31	Vanguard Group Inc	4.5575	0.0003	674223	3473	0.5178
2023-12-31	Private Management Group Inc	4.4122	0.5633	652728	-986	-0.1508
2023-12-31	Banc Funds Co LLC	2.9522	0.9708	436746	0	0
2023-12-31	Manufacturers Life Insurance Co	2.8424	0.0057	420502	-19711	-4.4776
2023-12-31	Ameriprise Financial Inc	2.2383	0.0022	331135	11737	3.6747
2023-12-31	State Street Corporation	1.9898	0.0003	294370	3157	1.0841
2023-12-31	Geode Capital Management, LLC	1.906	0.0007	281976	8674	3.1738
2023-12-31	Northern Trust Corp	1.6608	0.001	245698	6869	2.8761
2023-12-31	Renaissance Technologies Corp	1.4622	0.0076	216312	-2419	-1.1059
2023-12-31	Goldman Sachs Group Inc	1.1437	0.0003	169190	83952	98.4913
2023-12-31	FMR Inc	1.073	0.0003	158731	-2120	-1.318
2023-12-31	Hotchkis & Wiley Capital Management LLC	0.9647	0.0115	142722	-2100	-1.4501
2023-12-31	Morgan Stanley - Brokerage Accounts	0.9284	0.0003	137341	21372	18.4291
2023-12-31	Foundry Partners, LLC	0.9148	0.1838	135335	-2450	-1.7781
2023-12-31	LSV Asset Management	0.8578	0.0063	126900	-700	-0.5486
2023-12-31	Bank of New York Mellon Corp	0.8226	0.0006	121693	21528	21.4925
2023-12-31	Bridgeway Capital Management, LLC	0.7726	0.0553	114302	5461	5.0174
2023-12-31	American Century Companies Inc	0.767	0.0018	113465	-1	-0.0009
Total		48.3767	1.8195	7156755	+208666	+2.9%

3.2. Funds holding Sierra Bancorp

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2024-02-29	Vanguard Total Stock Mkt Idx Inv	2.7011	0.0005	399592	0	0
2024-03-28	iShares Russell 2000 ETF	2.5973	0.0119	384247	186	0.0484
2024-02-29	DFA US Small Cap Value I	2.2254	0.0398	329218	0	0
2024-01-31	JHancock Regional Bank A	1.3718	0.5295	202947	-4464	-2.1522
2023-12-31	Foundry Partners Micro Cap Value	1.3271	0.826	196325	0	0
2024-02-29	Columbia Small Cap Value I A	1.3249	0.2741	195997	400	0.2045
2023-12-31	Columbia Small Cap Value I	1.3127	0.3208	194197	2200	1.1459
2024-02-29	Vanguard Institutional Extnd Mkt Idx Tr	1.279	0.0035	189219	0	0
2024-01-31	JH Financial Opportunities	1.1021	0.4874	163038	0	0
2024-01-31	Fidelity Small Cap Index	0.891	0.011	131812	1859	1.4305
2024-03-28	iShares Russell 2000 Value ETF	0.881	0.021	130328	-83	-0.0636
2024-02-29	Fidelity Select Banking	0.8321	0.5904	123100	-7300	-5.5982
2023-12-31	Northern Small Cap Value	0.7633	0.1561	112928	0	0
2024-03-29	Avantis US Small Cap Value ETF	0.6914	0.0191	102288	0	0
2024-02-29	DFA US Targeted Value I	0.6761	0.0144	100027	37353	59.5989
2024-02-29	DFA US Micro Cap I	0.5971	0.0229	88330	-17261	-16.347
2024-03-29	Dimensional US Targeted Value ETF	0.5553	0.0165	82147	0	0
2024-02-29	BlackRock Advantage Small Cap Core Instl	0.5369	0.0421	79426	-2913	-3.5378
2024-02-29	Columbia VP Small Cap Value 1	0.532	0.2762	78698	0	0
2024-02-29	State St Russell Sm/Mid Cp® Indx NL Cl C	0.4954	0.0033	73282	0	0
Total		22.693	3.6665	3357146	+9977	+0.3%

3.3. Insider Transactions

Insiders are holding 10.819% of the shares of Sierra Bancorp.

Date	Owner	Type	Amount	Price
2023-12-01	Susan M Abundis	SELL	788	18.74
2023-07-31	Laurence S Dutto	BUY	200	21.16
2023-05-17	Gordon T Woods	BUY	30	15.9
2023-05-02	Julie G Castle	BUY	1000	15.55

4. Summary

4.1. Key Performance Indicators

The key performance indicators of Sierra 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	-	-	-224.186	0.656	-34300%	-0.864	-100%	0.259	-86639%	0.264	-84877%
Book Value Per Share	-	-	22.863	190.374	-88%	20.341	+12%	55.000	-58%	34.605	-34%
Current Ratio	-	-	0.046	2.593	-98%	4.125	-99%	51.007	-100%	54.820	-100%
Debt To Asset Ratio	-	-	0.910	0.242	+276%	0.912	0%	0.765	+19%	0.827	+10%
Debt To Equity Ratio	-	-	10.070	2.696	+274%	10.428	-3%	7.469	+35%	7.797	+29%
Dividend Per Share	-	-	0.227	0.231	-2%	0.231	-2%	0.212	+7%	0.164	+38%
Eps	-	-	0.425	0.587	-28%	0.560	-24%	0.601	-29%	0.468	-9%
Free Cash Flow Per Share	-	-	0.274	0.873	-69%	0.537	-49%	0.722	-62%	0.584	-53%
Free Cash Flow To Equity Per Share	-	-	-8.939	0.041	-21744%	4.975	-280%	3.745	-339%	2.812	-418%
Gross Profit Margin	-	-	1.262	1.022	+23%	0.948	+33%	0.965	+31%	0.982	+28%
Intrinsic Value_10Y_max	-	-	20.417	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	-5.281	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	2.878	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	1.863	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	8.012	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	3.558	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	12.383	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	3.006	-	-	-	-	-	-	-	-
Market Cap	277276875.000	-20%	333471655.000	280787207.630	+19%	329714157.673	+1%	343549279.438	-3%	331899511.077	+0%
Net Profit Margin	-	-	0.097	0.239	-59%	38.993	-100%	8.026	-99%	4.126	-98%
Operating Margin	-	-	-	0.340	-100%	63.928	-100%	13.128	-100%	6.754	-100%
Operating Ratio	-	-	0.120	-0.368	+406%	62.928	-100%	12.315	-99%	6.040	-98%
Pb Ratio	0.820	-20%	0.986	0.301	+228%	1.076	-8%	0.953	+4%	1.221	-19%
Pe Ratio	11.022	-20%	13.256	8.513	+56%	10.066	+32%	9.565	+39%	24.820	-47%
Price Per Share	18.750	-20%	22.550	18.925	+19%	21.925	+3%	22.568	0%	21.968	+3%
Price To Free Cash Flow Ratio	17.120	-20%	20.590	8.563	+140%	-88.703	+531%	-10.452	+151%	3.582	+475%
Price To Total Gains Ratio	-0.084	+17%	-0.101	-2.779	+2660%	-106.018	+105194%	4.739	-102%	29.009	-100%
Quick Ratio	-	-	0.443	5.061	-91%	8.056	-95%	31.491	-99%	39.175	-99%
Return On Assets	-	-	0.002	0.002	-28%	0.002	-30%	0.003	-41%	0.003	-38%
Return On Equity	-	-	0.019	0.028	-33%	0.028	-33%	0.028	-35%	0.026	-28%
Total Gains Per Share	-	-	-223.959	0.887	-25363%	-0.632	-100%	0.471	-47636%	0.428	-52402%
Usd Book Value	-	-	338097000.000	2828277750.000	-88%	305848000.000	+11%	824490350.000	-59%	518665850.000	-35%
Usd Book Value Change Per Share	-	-	-224.186	0.656	-34300%	-0.864	-100%	0.259	-86639%	0.264	-84877%
Usd Book Value Per Share	-	-	22.863	190.374	-88%	20.341	+12%	55.000	-58%	34.605	-34%
Usd Dividend Per Share	-	-	0.227	0.231	-2%	0.231	-2%	0.212	+7%	0.164	+38%
Usd Eps	-	-	0.425	0.587	-28%	0.560	-24%	0.601	-29%	0.468	-9%
Usd Free Cash Flow	-	-	4049000.000	12951000.000	-69%	8075000.000	-50%	10972700.000	-63%	8833600.000	-54%
Usd Free Cash Flow Per Share	-	-	0.274	0.873	-69%	0.537	-49%	0.722	-62%	0.584	-53%
Usd Free Cash Flow To Equity Per Share	-	-	-8.939	0.041	-21744%	4.975	-280%	3.745	-339%	2.812	-418%
Usd Market Cap	277276875.000	-20%	333471655.000	280787207.630	+19%	329714157.673	+1%	343549279.438	-3%	331899511.077	+0%
Usd Price Per Share	18.750	-20%	22.550	18.925	+19%	21.925	+3%	22.568	0%	21.968	+3%
Usd Profit	-	-	6289000.000	8711000.000	-28%	8414750.000	-25%	9146050.000	-31%	7075325.000	-11%
Usd Revenue	-	-	64988000.000	41205750.000	+58%	24262000.000	+168%	32174600.000	+102%	27133675.000	+140%
Usd Total Gains Per Share	-	-	-223.959	0.887	-25363%	-0.632	-100%	0.471	-47636%	0.428	-52402%
	EOD	+5 -3	MRQ	TTM	+6 -30	YOY	+13 -23	5Y	+6 -30	10Y	+10 -26

4.2. Fundamental Score

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

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	11.022
Price to Book Ratio (EOD)	Between	0-1	0.820
Net Profit Margin (MRQ)	Greater than	0	0.097
Operating Margin (MRQ)	Greater than	0	0.000
Quick Ratio (MRQ)	Greater than	1	0.443
Current Ratio (MRQ)	Greater than	1	0.046
Debt to Asset Ratio (MRQ)	Less than	1	0.910
Debt to Equity Ratio (MRQ)	Less than	1	10.070
Return on Equity (MRQ)	Greater than	0.15	0.019
Return on Assets (MRQ)	Greater than	0.05	0.002
Total			4/10 (40.0%)

Create your own Stock Scanner

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

4.3. Technical Score

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

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	51.686
Ma 20	Greater than	Ma 50	18.718
Ma 50	Greater than	Ma 100	18.657
Ma 100	Greater than	Ma 200	19.751
Open	Greater than	Close	17.710
Total			3/5 (60.0%)

Create your own Symbol Scanner

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

Reversals in quarterly reports

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

	2022-12-31		2023-03-31		2023-06-30		2023-09-30		2023-12-31
Long-term Assets Other	-27,552	-1,861	-29,413	-1,348,675	-1,378,088	22,241	-1,355,847	4,823,265	3,467,418
Cash and Short Term Investments	1,012,054	112,372	1,124,426	6,595	1,131,021	-32,102	1,098,919	-1,177,521	-78,602
Selling and Marketing Expenses	407	106	513	-103	410	313	723	-2,369	-1,646
Total Operating Expenses	-18,845	6,207	-12,638	-7,577	-20,215	-92	-20,307	28,124	7,817

Latest Balance Sheet

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

Summary

Total Assets	3,742,808
Total Liabilities	3,404,711
Total Stockholder Equity	338,097

	As reported
Total Liabilities	3,404,711
Total Stockholder Equity	+ 338,097
Total Assets	= 3,742,808

Assets

Total Assets	3,742,808
Total Current Assets	98,949
Long-term Assets	3,643,859

Total Current Assets

Total Current Assets (as reported)	98,949
Cash And Cash Equivalents	78,602
Short-term Investments	1,019,201
Net Receivables	20,347
Inventory	58,255
Total Current Assets (calculated)	1,176,405
+/-	1,077,456

Long-term Assets

Long-term Assets (as reported)	3,643,859
Property Plant Equipment	42,707
Goodwill	27,357
Long Term Investments	1,358,007
Intangible Assets	1,399
Long-term Assets Other	3,467,418
Long-term Assets (calculated)	4,896,888
+/-	1,253,029

Liabilities & Shareholders' Equity

Total Current Liabilities	2,171,556
Long-term Liabilities	1,233,155
Total Stockholder Equity	338,097

Total Current Liabilities

Total Current Liabilities (as reported)	2,171,556
Short-term Debt	471,246
Short Long Term Debt	360,500
Other Current Liabilities	1,700,310
Total Current Liabilities (calculated)	2,532,056
+/-	360,500

Long-term Liabilities

Long-term Liabilities (as reported)	1,233,155
Long term Debt	84,964
Long-term Liabilities (calculated)	84,964
+/-	1,148,191

Total Stockholder Equity

Total Stockholder Equity (as reported)	338,097
Common Stock	110,446
Retained Earnings	259,050
Accumulated Other Comprehensive Income	-35,980
Other Stockholders Equity	4,581
Total Stockholder Equity (calculated)	338,097
+/-	0

Other

Capital Stock	110,446
Cash and Short Term Investments	-78,602
Common Stock Shares Outstanding	14,588
Liabilities and Stockholders Equity	3,742,808
Net Debt	495,929
Net Invested Capital	783,561
Net Working Capital	-2,072,607
Property Plant and Equipment Gross	47,168
Short Long Term Debt Total	574,531

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

1999-06-30

1999-03-31

> Total Assets

399,100
415,500
480,544
606,602
606,814
606,726
598,615
588,660
592,071
650,410
650,410
677,930
682,408
701,114
691,050
734,987
761,905
801,674
823,205
932,729
947,648
997,483
1,002,691
1,010,686
1,036,625
1,052,686
1,102,230
1,148,504
1,173,229
1,215,074
1,215,844
1,215,953
1,208,077
1,233,735
1,281,762
1,308,303
1,316,907
1,326,292
1,307,872
1,295,816
1,307,049
1,335,549
1,315,250
1,328,306
1,300,055
1,286,571
1,312,949
1,345,899
1,351,242
1,335,405
1,348,171
1,399,692
1,423,302
1,437,903
1,386,362
1,378,424
1,383,299
1,410,249
1,458,321
1,498,039
1,489,024
1,637,320
1,733,417
1,734,111
1,717,134
1,796,537
1,764,167
1,843,288
1,973,240
2,032,873
1,999,725
2,077,980
2,077,993
2,340,298
2,373,524
2,425,443
2,463,040
2,522,502
2,539,087
2,577,032
2,635,960
2,593,819
2,670,469
3,110,044
3,199,618
3,220,742
3,326,037
3,272,048
3,442,739
3,371,014
3,418,854
3,396,635
3,532,289
3,608,590
3,693,984
3,762,461
3,738,880
3,742,808

3,742,808

3,738,880

3,762,461

3,693,984

3,608,590

3,532,289

3,396,635

3,418,854

3,371,014

3,442,739

3,272,048

3,326,037

3,220,742

3,199,618

3,110,044

2,670,469

2,593,819

2,635,960

2,577,032

2,539,087

2,522,502

2,463,040

2,425,443

2,373,524

2,340,298

2,077,993

2,077,980

1,999,725

2,032,873

1,973,240

1,843,288

1,764,167

1,796,537

1,717,134

1,734,111

1,733,417

1,637,320

1,489,024

1,498,039

1,458,321

1,410,249

1,383,299

1,378,424

1,386,362

1,437,903

1,423,302

1,399,692

1,348,171

1,335,405

1,351,242

1,345,899

1,312,949

1,286,571

1,300,055

1,328,306

1,315,250

1,335,549

1,307,049

1,295,816

1,307,872

1,326,292

1,316,907

1,308,303

1,281,762

1,233,735

1,208,077

1,215,953

1,215,844

1,215,074

1,173,229

1,148,504

1,102,230

1,052,686

1,036,625

1,010,686

1,002,691

997,483

947,648

932,729

823,205

801,674

761,905

734,987

691,050

701,114

682,408

677,930

650,410

592,071

588,660

598,615

606,726

606,814

606,602

480,544

415,500

399,100

> Total Current Assets

21,000
404,100
29,424
46,770
48,617
586,675
42,082
40,693
38,342
630,560
630,560
130,558
138,177
594,081
131,751
129,945
127,658
693,041
138,382
247,018
234,729
774,127
238,402
249,158
250,790
835,411
244,658
247,256
238,006
988,531
40,908
44,366
38,166
1,010,259
278,764
293,838
274,103
1,058,055
263,890
268,220
299,370
1,031,768
337,137
354,384
359,400
929,107
421,176
917,586
896,415
902,669
904,970
949,862
980,905
1,020,013
960,717
958,372
951,173
950,064
986,827
1,011,957
994,810
1,088,336
1,189,325
1,196,991
1,177,486
1,252,910
1,211,570
1,284,222
1,398,038
1,454,751
1,408,487
1,459,104
1,455,669
1,707,412
1,747,521
1,801,017
1,850,146
1,889,757
1,913,060
1,938,106
1,975,059
1,926,021
1,989,421
2,450,731
2,563,192
2,612,278
2,714,916
2,607,488
2,655,053
268,774
1,278,566
323,274
1,156,117
1,030,408
1,124,426
1,131,021
1,098,919
98,949

98,949

1,098,919

1,131,021

1,124,426

1,030,408

1,156,117

323,274

1,278,566

268,774

2,655,053

2,607,488

2,714,916

2,612,278

2,563,192

2,450,731

1,989,421

1,926,021

1,975,059

1,938,106

1,913,060

1,889,757

1,850,146

1,801,017

1,747,521

1,707,412

1,455,669

1,459,104

1,408,487

1,454,751

1,398,038

1,284,222

1,211,570

1,252,910

1,177,486

1,196,991

1,189,325

1,088,336

994,810

1,011,957

986,827

950,064

951,173

958,372

960,717

1,020,013

980,905

949,862

904,970

902,669

896,415

917,586

421,176

929,107

359,400

354,384

337,137

1,031,768

299,370

268,220

263,890

1,058,055

274,103

293,838

278,764

1,010,259

38,166

44,366

40,908

988,531

238,006

247,256

244,658

835,411

250,790

249,158

238,402

774,127

234,729

247,018

138,382

693,041

127,658

129,945

131,751

594,081

138,177

130,558

630,560

38,342

40,693

42,082

586,675

48,617

46,770

29,424

404,100

21,000

Cash And Cash Equivalents

19,100
23,900
25,902
42,809
43,872
44,664
37,638
36,675
34,342
40,025
40,025
37,923
51,822
55,819
43,230
43,419
45,023
53,042
41,363
46,893
32,609
36,735
35,022
37,335
43,508
50,147
41,627
49,444
41,870
52,725
40,908
44,366
38,166
44,022
43,150
52,737
38,237
46,010
29,261
37,160
33,716
66,234
42,012
47,819
41,693
42,435
57,522
68,367
58,305
63,036
71,742
48,926
45,095
61,818
47,949
66,982
60,969
78,006
72,164
48,824
39,678
50,095
47,905
46,690
48,988
48,623
44,008
53,041
65,442
120,442
92,768
77,175
54,607
70,137
63,509
85,102
65,039
74,132
68,063
67,790
80,689
80,077
106,992
156,611
88,933
71,417
346,211
373,902
422,350
257,528
253,534
161,875
86,683
77,131
83,506
103,483
88,542
78,602

78,602

88,542

103,483

83,506

77,131

86,683

161,875

253,534

257,528

422,350

373,902

346,211

71,417

88,933

156,611

106,992

80,077

80,689

67,790

68,063

74,132

65,039

85,102

63,509

70,137

54,607

77,175

92,768

120,442

65,442

53,041

44,008

48,623

48,988

46,690

47,905

50,095

39,678

48,824

72,164

78,006

60,969

66,982

47,949

61,818

45,095

48,926

71,742

63,036

58,305

68,367

57,522

42,435

41,693

47,819

42,012

66,234

33,716

37,160

29,261

46,010

38,237

52,737

43,150

44,022

38,166

44,366

40,908

52,725

41,870

49,444

41,627

50,147

43,508

37,335

35,022

36,735

32,609

46,893

41,363

53,042

45,023

43,419

43,230

55,819

51,822

37,923

40,025

34,342

36,675

37,638

44,664

43,872

42,809

25,902

23,900

19,100

Short-term Investments

0
0
0
0
0
1,477
0
0
0
190
0
89,143
82,738
83,911
84,952
83,115
79,156
84,798
93,199
196,287
197,969
198,024
199,003
207,143
202,428
193,676
197,495
191,567
189,579
190,272
595
3,236
1,748
184,917
235,664
241,150
240,916
243,413
239,679
236,385
266,079
278,168
295,450
306,890
318,032
331,730
375,027
402,736
429,828
13,710
416,866
422,196
414,635
380,188
398,755
393,576
406,089
425,044
444,797
459,744
467,688
511,883
514,466
506,919
509,600
507,582
522,610
528,539
535,580
530,083
551,256
579,581
583,200
558,329
563,582
559,968
548,815
560,479
563,628
577,266
599,906
600,799
620,154
599,333
577,278
543,974
552,931
607,474
732,312
973,314
1,025,032
864,178
1,069,434
934,923
1,040,920
1,027,538
1,010,377
1,019,201

1,019,201

1,010,377

1,027,538

1,040,920

934,923

1,069,434

864,178

1,025,032

973,314

732,312

607,474

552,931

543,974

577,278

599,333

620,154

600,799

599,906

577,266

563,628

560,479

548,815

559,968

563,582

558,329

583,200

579,581

551,256

530,083

535,580

528,539

522,610

507,582

509,600

506,919

514,466

511,883

467,688

459,744

444,797

425,044

406,089

393,576

398,755

380,188

414,635

422,196

416,866

13,710

429,828

402,736

375,027

331,730

318,032

306,890

295,450

278,168

266,079

236,385

239,679

243,413

240,916

241,150

235,664

184,917

1,748

3,236

595

190,272

189,579

191,567

197,495

193,676

202,428

207,143

199,003

198,024

197,969

196,287

93,199

84,798

79,156

83,115

84,952

83,911

82,738

89,143

190

1,477

Net Receivables

1,900
0
3,522
3,961
4,745
4,902
4,444
4,018
4,000
0
3,866
3,492
3,617
0
3,569
3,411
3,479
0
3,820
3,838
4,151
0
4,377
4,680
4,854
0
5,536
6,245
6,557
6,693
6,693
0
0
6,864
6,864
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,095
5,095
0
0
4,990
4,990
0
0
5,852
5,852
0
0
5,808
5,808
0
0
6,354
6,354
0
0
7,682
7,682
0
0
8,587
8,587
0
8,100
8,229
8,229
0
0
16,074
16,074
0
0
11,246
0
0
0
18,354
0
0
0
20,347

20,347

18,354

11,246

16,074

8,229

8,100

8,587

7,682

6,354

5,808

5,852

4,990

5,095

6,864

6,693

6,557

6,245

5,536

4,854

4,680

4,377

4,151

3,838

3,820

3,479

3,411

3,569

3,617

3,492

3,866

4,000

4,018

4,444

4,902

4,745

3,961

3,522

1,900

Other Current Assets

0
380,200
0
0
0
537,109
0
0
0
0
590,535
0
0
538,262
0
0
0
639,999
0
0
0
737,392
0
0
0
785,264
0
0
0
929,113
0
0
0
959,373
0
0
0
1,012,045
0
0
0
965,534
0
0
0
886,672
0
849,219
838,110
839,633
833,228
900,936
935,810
572,912
514,013
497,814
484,115
442,024
469,866
503,389
487,444
520,506
626,954
643,382
618,898
690,897
644,952
702,642
797,016
797,872
764,463
802,348
817,862
1,071,264
1,120,430
1,155,947
1,236,292
1,246,559
1,281,369
1,293,050
1,294,464
1,236,916
1,262,275
1,694,787
1,896,981
1,980,813
1,815,774
1,626,112
1,500,391
-194,381
18,200
-702,779
94,983
95,485
88,706
108,583
93,842
98,949

98,949

93,842

108,583

88,706

95,485

94,983

-702,779

18,200

-194,381

1,500,391

1,626,112

1,815,774

1,980,813

1,896,981

1,694,787

1,262,275

1,236,916

1,294,464

1,293,050

1,281,369

1,246,559

1,236,292

1,155,947

1,120,430

1,071,264

817,862

802,348

764,463

797,872

797,016

702,642

644,952

690,897

618,898

643,382

626,954

520,506

487,444

503,389

469,866

442,024

484,115

497,814

514,013

572,912

935,810

900,936

833,228

839,633

838,110

849,219

886,672

965,534

1,012,045

959,373

929,113

785,264

737,392

639,999

538,262

590,535

537,109

380,200

> Long-term Assets

100,100
11,400
113,429
130,495
132,104
20,051
120,108
125,060
114,648
0
19,850
14,932
16,681
107,033
17,272
17,379
17,847
108,633
19,112
19,477
17,678
223,356
17,353
17,138
17,469
217,275
18,128
18,440
18,343
226,543
208,802
204,802
203,169
223,476
18,240
18,809
19,024
268,237
18,993
19,097
19,779
303,781
19,905
19,941
20,128
357,464
20,608
428,313
454,827
432,736
443,201
449,830
442,397
417,890
425,645
420,052
432,126
460,185
471,494
486,082
494,214
548,984
544,092
537,120
539,648
543,627
552,597
559,066
575,202
578,122
591,238
618,876
622,324
632,886
626,003
624,426
612,894
632,745
626,027
638,926
660,901
667,798
681,048
659,313
636,426
608,464
611,121
664,560
787,686
996,885
1,078,650
1,078,640
1,278,207
1,338,324
1,395,969
1,378,088
1,355,847
3,643,859

3,643,859

1,355,847

1,378,088

1,395,969

1,338,324

1,278,207

1,078,640

1,078,650

996,885

787,686

664,560

611,121

608,464

636,426

659,313

681,048

667,798

660,901

638,926

626,027

632,745

612,894

624,426

626,003

632,886

622,324

618,876

591,238

578,122

575,202

559,066

552,597

543,627

539,648

537,120

544,092

548,984

494,214

486,082

471,494

460,185

432,126

420,052

425,645

417,890

442,397

449,830

443,201

432,736

454,827

428,313

20,608

357,464

20,128

19,941

19,905

303,781

19,779

19,097

18,993

268,237

19,024

18,809

18,240

223,476

203,169

204,802

208,802

226,543

18,343

18,440

18,128

217,275

17,469

17,138

17,353

223,356

17,678

19,477

19,112

108,633

17,847

17,379

17,272

107,033

16,681

14,932

19,850

114,648

125,060

120,108

20,051

132,104

130,495

113,429

11,400

100,100

Property Plant Equipment

12,600
11,300
11,835
15,916
15,872
14,477
14,628
14,492
14,240
14,304
14,304
14,932
16,681
17,578
17,272
17,379
17,847
18,291
19,112
19,477
17,678
19,788
17,353
17,138
17,469
18,055
18,128
18,440
21,266
17,978
18,187
18,721
18,612
18,255
18,240
18,809
19,024
19,280
18,993
19,097
19,779
20,069
19,905
19,941
20,128
20,190
20,608
20,033
19,455
20,721
20,791
22,090
22,218
21,830
21,346
20,932
20,493
20,393
21,153
20,794
20,982
21,853
21,688
22,296
22,177
21,990
22,183
22,449
28,781
28,893
29,018
28,438
28,373
29,388
29,060
30,182
29,998
29,500
28,855
28,385
27,988
27,435
28,425
27,779
27,216
27,505
26,795
25,949
24,490
23,571
23,239
22,937
22,688
22,478
22,321
22,072
21,926
42,707

42,707

21,926

22,072

22,321

22,478

22,688

22,937

23,239

23,571

24,490

25,949

26,795

27,505

27,216

27,779

28,425

27,435

27,988

28,385

28,855

29,500

29,998

30,182

29,060

29,388

28,373

28,438

29,018

28,893

28,781

22,449

22,183

21,990

22,177

22,296

21,688

21,853

20,982

20,794

21,153

20,393

20,493

20,932

21,346

21,830

22,218

22,090

20,791

20,721

19,455

20,033

20,608

20,190

20,128

19,941

19,905

20,069

19,779

19,097

18,993

19,280

19,024

18,809

18,240

18,255

18,612

18,721

18,187

17,978

21,266

18,440

18,128

18,055

17,469

17,138

17,353

19,788

17,678

19,477

19,112

18,291

17,847

17,379

17,272

17,578

16,681

14,932

14,304

14,240

14,492

14,628

14,477

15,872

15,916

11,835

11,300

12,600

Goodwill

0
0
0
5,800
0
0
0
0
0
0
0
0
0
0
0
0
0
5,544
0
0
0
5,544
0
0
0
5,544
0
0
0
5,544
0
0
0
5,544
0
0
0
5,544
0
0
0
5,544
5,544
0
0
5,544
5,544
5,544
5,544
5,544
5,544
5,544
5,544
5,544
5,544
5,544
5,544
5,544
5,544
5,544
5,544
6,908
6,908
6,908
6,908
6,908
6,908
6,908
7,932
8,268
8,268
8,268
8,268
27,357
27,357
27,357
27,357
27,357
27,357
27,357
27,357
27,357
27,357
27,357
27,357
27,357
27,357
27,357
27,357
27,357
27,357
27,357
27,357
27,357
27,357
27,357
27,357
27,357

27,357

8,268

7,932

6,908

5,544

5,800

Long Term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
752,069
738,550
742,283
735,514
804,874
835,868
867,288
816,018
799,774
800,017
793,192
827,524
882,800
874,169
961,056
1,056,906
1,064,686
1,045,674
1,124,602
1,086,278
1,147,871
1,249,406
1,255,754
1,229,178
1,292,777
1,305,546
1,551,551
1,586,178
2,178,096
2,236,464
2,285,259
2,307,966
577,266
599,906
2,356,337
2,409,467
2,795,253
2,938,914
2,986,200
2,819,363
607,474
732,312
973,314
1,025,032
1,025,577
1,225,645
1,271,804
1,373,648
1,356,016
1,333,921
1,358,007

1,358,007

1,333,921

1,356,016

1,373,648

1,271,804

1,225,645

1,025,577

1,025,032

973,314

732,312

607,474

2,819,363

2,986,200

2,938,914

2,795,253

2,409,467

2,356,337

599,906

577,266

2,307,966

2,285,259

2,236,464

2,178,096

1,586,178

1,551,551

1,305,546

1,292,777

1,229,178

1,255,754

1,249,406

1,147,871

1,086,278

1,124,602

1,045,674

1,064,686

1,056,906

961,056

874,169

882,800

827,524

793,192

800,017

799,774

816,018

867,288

835,868

804,874

735,514

742,283

738,550

752,069

Intangible Assets

0
0
0
5,800
0
5,574
0
0
0
5,546
0
0
0
5,544
0
0
0
5,544
0
0
0
5,544
0
0
0
5,544
0
0
0
5,544
0
0
0
5,544
0
0
0
5,544
0
0
0
5,544
0
0
0
5,544
0
5,544
5,544
5,544
5,544
5,544
5,544
5,544
5,544
5,544
5,544
5,544
5,544
5,544
5,544
1,064
1,030
997
963
930
896
1,170
2,909
2,803
2,696
2,589
2,483
6,234
6,004
6,919
6,724
6,455
6,187
5,918
5,650
5,381
5,112
4,844
4,575
4,307
4,038
3,780
3,527
3,275
3,022
2,769
2,517
2,275
2,056
1,837
1,618
1,399

1,399

1,618

1,837

2,056

2,275

2,517

2,769

3,022

3,275

3,527

3,780

4,038

4,307

4,575

4,844

5,112

5,381

5,650

5,918

6,187

6,455

6,724

6,919

6,004

6,234

2,483

2,589

2,696

2,803

2,909

1,170

896

930

963

997

1,030

1,064

5,544

5,546

5,574

5,800

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
570,870
577,165
554,664
562,172
572,751
579,345
612,286
615,320
648,486
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

648,486

615,320

612,286

579,345

572,751

562,172

554,664

577,165

570,870

Long-term Assets Other

-100,100
100
-113,429
-130,495
-132,104
5,574
-120,108
-125,060
-114,648
0
5,546
-89,143
-84,566
5,544
-84,952
-83,115
-79,156
5,544
-95,067
-202,366
-204,103
5,544
-205,062
-207,143
-207,843
5,544
-197,495
-191,567
-192,502
5,544
-208,802
-204,802
-203,169
5,544
-235,664
-241,150
-240,916
5,544
-239,679
-236,385
-266,079
-298,237
-295,450
-306,890
-318,032
-351,920
-375,027
446,483
408,282
433,162
416,362
478,740
521,175
12
514,013
497,814
484,115
442,024
469,866
-480,538
-488,670
-546,545
-536,154
-529,215
-531,777
690,897
644,952
702,642
797,016
8,075
764,463
802,348
817,862
11,578
1,120,430
1,155,947
1,236,292
8,954
1,281,369
1,293,050
1,294,464
6,826
1,262,275
1,694,787
-604,494
5,321
-579,726
-602,286
111,106
-996,885
127,069
151,339
-1,278,207
-27,552
-29,413
-1,378,088
-1,355,847
3,467,418

3,467,418

-1,355,847

-1,378,088

-29,413

-27,552

-1,278,207

151,339

127,069

-996,885

111,106

-602,286

-579,726

5,321

-604,494

1,694,787

1,262,275

6,826

1,294,464

1,293,050

1,281,369

8,954

1,236,292

1,155,947

1,120,430

11,578

817,862

802,348

764,463

8,075

797,016

702,642

644,952

690,897

-531,777

-529,215

-536,154

-546,545

-488,670

-480,538

469,866

442,024

484,115

497,814

514,013

521,175

478,740

416,362

433,162

408,282

446,483

-375,027

-351,920

-318,032

-306,890

-295,450

-298,237

-266,079

-236,385

-239,679

5,544

-240,916

-241,150

-235,664

5,544

-203,169

-204,802

-208,802

5,544

-192,502

-191,567

-197,495

5,544

-207,843

-207,143

-205,062

5,544

-204,103

-202,366

-95,067

5,544

-79,156

-83,115

-84,952

5,544

-84,566

-89,143

5,546

-114,648

-125,060

-120,108

5,574

-132,104

-130,495

-113,429

100

-100,100

> Total Liabilities

364,200
380,700
443,109
568,591
567,730
565,944
556,606
545,698
546,761
604,269
604,269
627,867
629,969
647,827
636,152
678,092
703,303
741,698
760,197
869,511
878,513
926,348
929,499
934,107
959,184
973,923
1,019,876
1,065,043
1,084,353
1,124,703
1,123,244
1,122,534
1,109,452
1,134,271
1,180,401
1,206,412
1,208,032
1,219,492
1,198,583
1,185,418
1,174,784
1,201,069
1,178,325
1,188,555
1,161,586
1,126,974
1,151,426
1,180,487
1,182,917
1,166,841
1,177,926
1,227,155
1,248,829
1,264,011
1,210,820
1,203,253
1,205,243
1,228,575
1,274,152
1,311,117
1,302,784
1,450,229
1,544,933
1,548,005
1,530,082
1,606,197
1,569,820
1,644,973
1,764,712
1,826,995
1,789,308
1,861,857
1,858,910
2,084,356
2,118,204
2,165,205
2,199,832
2,249,478
2,255,019
2,280,180
2,332,607
2,284,534
2,351,010
2,782,611
2,863,371
2,876,846
2,978,056
2,914,319
3,078,232
3,008,520
3,093,163
3,097,588
3,237,217
3,305,008
49,236
85,579
85,496
3,404,711

3,404,711

85,496

85,579

49,236

3,305,008

3,237,217

3,097,588

3,093,163

3,008,520

3,078,232

2,914,319

2,978,056

2,876,846

2,863,371

2,782,611

2,351,010

2,284,534

2,332,607

2,280,180

2,255,019

2,249,478

2,199,832

2,165,205

2,118,204

2,084,356

1,858,910

1,861,857

1,789,308

1,826,995

1,764,712

1,644,973

1,569,820

1,606,197

1,530,082

1,548,005

1,544,933

1,450,229

1,302,784

1,311,117

1,274,152

1,228,575

1,205,243

1,203,253

1,210,820

1,264,011

1,248,829

1,227,155

1,177,926

1,166,841

1,182,917

1,180,487

1,151,426

1,126,974

1,161,586

1,188,555

1,178,325

1,201,069

1,174,784

1,185,418

1,198,583

1,219,492

1,208,032

1,206,412

1,180,401

1,134,271

1,109,452

1,122,534

1,123,244

1,124,703

1,084,353

1,065,043

1,019,876

973,923

959,184

934,107

929,499

926,348

878,513

869,511

760,197

741,698

703,303

678,092

636,152

647,827

629,969

627,867

604,269

546,761

545,698

556,606

565,944

567,730

568,591

443,109

380,700

364,200

> Total Current Liabilities

4,000
0
10,286
1,040
1,029
20,700
1,230
872
5,050
589,300
589,300
612,900
615,000
19,323
15,354
48,838
20,236
33,262
765
36,435
16,656
67,987
16,995
18,453
36,214
67,861
98,953
104,565
119,376
182,403
79,000
72,000
145,700
193,000
137,000
117,900
129,200
83,919
15,000
19,100
48,800
10,000
11,150
36,900
12,260
14,650
1,105,500
1,134,600
25,000
17,120
1,142,000
24,640
47,900
36,650
6,600
1,172,400
1,174,300
3,497
1,243,300
7,750
22,390
18,200
98,800
11,700
41,500
75,300
22,800
93,700
71,600
65,000
1,754,800
1,827,400
10,500
21,900
5,800
2,130,500
16,100
56,100
2,220,208
8,500
42,200
20,000
74,100
163,000
158,000
142,900
5,000
2,846,449
2,913,199
2,888,509
2,972,703
2,127,057
103,100
219,000
216,800
245,200
2,083,914
2,171,556

2,171,556

2,083,914

245,200

216,800

219,000

103,100

2,127,057

2,972,703

2,888,509

2,913,199

2,846,449

5,000

142,900

158,000

163,000

74,100

20,000

42,200

8,500

2,220,208

56,100

16,100

2,130,500

5,800

21,900

10,500

1,827,400

1,754,800

65,000

71,600

93,700

22,800

75,300

41,500

11,700

98,800

18,200

22,390

7,750

1,243,300

3,497

1,174,300

1,172,400

6,600

36,650

47,900

24,640

1,142,000

17,120

25,000

1,134,600

1,105,500

14,650

12,260

36,900

11,150

10,000

48,800

19,100

15,000

83,919

129,200

117,900

137,000

193,000

145,700

72,000

79,000

182,403

119,376

104,565

98,953

67,861

36,214

18,453

16,995

67,987

16,656

36,435

765

33,262

20,236

48,838

15,354

19,323

615,000

612,900

589,300

5,050

872

1,230

20,700

1,029

1,040

10,286

4,000

Short-term Debt

3,400
0
9,600
0
0
20,700
0
0
5,050
60,783
60,783
0
0
19,323
15,354
48,477
19,664
33,262
33,262
35,407
15,003
67,987
15,000
17,000
34,000
67,861
96,800
102,800
116,600
182,403
79,000
72,000
145,700
193,000
137,000
117,900
129,200
83,919
15,000
19,100
48,800
10,000
11,150
36,900
12,260
14,650
14,650
0
25,000
17,120
17,120
24,640
47,900
36,650
6,600
0
0
3,497
0
7,750
22,390
18,200
98,800
11,700
41,500
75,300
22,800
93,700
71,600
65,000
65,000
45,795
10,500
21,900
5,800
17,239
16,100
56,100
56,100
8,500
42,200
20,000
74,100
163,000
158,000
142,900
5,000
70,535
92,553
106,937
107,760
118,014
103,100
219,000
216,800
245,200
331,865
471,246

471,246

331,865

245,200

216,800

219,000

103,100

118,014

107,760

106,937

92,553

70,535

5,000

142,900

158,000

163,000

74,100

20,000

42,200

8,500

56,100

16,100

17,239

5,800

21,900

10,500

45,795

65,000

71,600

93,700

22,800

75,300

41,500

11,700

98,800

18,200

22,390

7,750

3,497

6,600

36,650

47,900

24,640

17,120

25,000

14,650

12,260

36,900

11,150

10,000

48,800

19,100

15,000

83,919

129,200

117,900

137,000

193,000

145,700

72,000

79,000

182,403

116,600

102,800

96,800

67,861

34,000

17,000

15,000

67,987

15,003

35,407

33,262

19,664

48,477

15,354

19,323

60,783

5,050

20,700

9,600

3,400

Short Long Term Debt

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
4,000
0
0
0
2,000
31,483
103,894
80,870
107,504
9,431
45,795
55,323
64,638
53,262
51,916
0
0
0
8,500
42,200
20,000
74,100
163,000
158,000
142,900
5,000
0
0
0
0
0
103,100
219,000
216,800
245,200
237,000
360,500

360,500

237,000

245,200

216,800

219,000

103,100

5,000

142,900

158,000

163,000

74,100

20,000

42,200

8,500

51,916

53,262

64,638

55,323

45,795

9,431

107,504

80,870

103,894

31,483

2,000

4,000

Accounts payable

600
0
686
1,040
1,029
527,776
1,230
872
521,438
521,317
488
720
847
605,705
599,967
361
572
684,477
765
1,028
1,653
742,703
1,995
1,453
2,214
815,671
2,153
1,765
2,776
868,445
902,122
923,683
886,579
850,147
923,548
963,315
961,034
1,061,498
1,095,009
1,076,619
1,062,851
1,125,432
1,108,000
1,091,602
1,089,555
1,052,274
1,091,705
1,116,166
1,093,619
1,086,268
1,122,878
1,149,534
1,145,853
1,174,034
1,155,934
1,155,016
1,151,478
1,174,179
1,220,178
1,246,127
1,223,046
1,366,695
1,391,015
1,471,590
1,429,114
1,464,628
1,488,086
1,486,074
1,633,831
1,695,471
1,720,421
1,791,857
1,779,579
1,988,386
2,036,630
2,087,922
2,106,053
2,116,340
2,160,748
2,179,098
2,196,207
2,168,374
2,179,391
2,506,754
2,591,713
2,624,606
2,853,892
2,775,914
2,820,646
2,781,572
2,864,943
2,850,999
2,885,468
2,846,164
2,948,988
0
0
0

2,948,988

2,846,164

2,885,468

2,850,999

2,864,943

2,781,572

2,820,646

2,775,914

2,853,892

2,624,606

2,591,713

2,506,754

2,179,391

2,168,374

2,196,207

2,179,098

2,160,748

2,116,340

2,106,053

2,087,922

2,036,630

1,988,386

1,779,579

1,791,857

1,720,421

1,695,471

1,633,831

1,486,074

1,488,086

1,464,628

1,429,114

1,471,590

1,391,015

1,366,695

1,223,046

1,246,127

1,220,178

1,174,179

1,151,478

1,155,016

1,155,934

1,174,034

1,145,853

1,149,534

1,122,878

1,086,268

1,093,619

1,116,166

1,091,705

1,052,274

1,089,555

1,091,602

1,108,000

1,125,432

1,062,851

1,076,619

1,095,009

1,061,498

961,034

963,315

923,548

850,147

886,579

923,683

902,122

868,445

2,776

1,765

2,153

815,671

2,214

1,453

1,995

742,703

1,653

1,028

765

684,477

572

361

599,967

605,705

847

720

488

521,317

521,438

872

1,230

527,776

1,029

1,040

686

600

Other Current Liabilities

0
0
0
-1,040
-1,029
0
-1,230
-872
0
0
528,517
612,180
614,153
0
0
0
0
0
-765
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,116,166
1,093,619
1,086,268
1,122,878
1,149,534
1,145,853
1,174,034
1,155,934
1,155,016
1,151,478
1,174,179
1,220,178
1,246,127
1,223,046
1,366,695
1,391,015
1,471,590
1,429,114
1,464,628
1,488,086
1,486,074
1,633,831
1,695,471
1,720,421
1,791,857
1,781,179
1,988,386
2,036,930
2,087,922
2,106,053
2,116,340
2,160,748
2,179,098
2,196,207
2,168,374
2,179,391
2,506,754
2,591,713
2,624,606
2,853,892
2,775,914
2,820,646
2,781,572
2,864,943
2,009,043
-103,100
-219,000
-216,800
-245,200
1,752,049
1,700,310

1,700,310

1,752,049

-245,200

-216,800

-219,000

-103,100

2,009,043

2,864,943

2,781,572

2,820,646

2,775,914

2,853,892

2,624,606

2,591,713

2,506,754

2,179,391

2,168,374

2,196,207

2,179,098

2,160,748

2,116,340

2,106,053

2,087,922

2,036,930

1,988,386

1,781,179

1,791,857

1,720,421

1,695,471

1,633,831

1,486,074

1,488,086

1,464,628

1,429,114

1,471,590

1,391,015

1,366,695

1,223,046

1,246,127

1,220,178

1,174,179

1,151,478

1,155,016

1,155,934

1,174,034

1,145,853

1,149,534

1,122,878

1,086,268

1,093,619

1,116,166

-765

614,153

612,180

528,517

-872

-1,230

-1,029

-1,040

> Long-term Liabilities

0
17,300
0
0
28,000
0
0
0
0
0
15,000
15,000
15,000
628,504
15,000
15,000
35,100
15,464
30,939
105,928
105,928
105,928
105,928
95,928
76,928
76,928
76,928
73,392
73,392
57,928
57,928
35,928
35,928
35,928
65,928
60,928
60,928
60,928
50,928
50,928
50,928
50,928
45,928
45,928
45,928
45,928
45,928
45,928
45,928
45,928
35,928
35,928
35,928
35,928
30,928
30,928
30,928
30,928
30,928
30,928
30,928
36,928
32,928
32,928
32,928
32,928
30,928
30,928
34,365
34,410
34,454
34,499
34,544
34,588
34,633
34,677
34,722
34,767
34,811
34,856
34,901
34,945
34,990
35,035
35,079
35,124
35,169
35,213
84,479
84,443
85,538
85,458
103,100
219,000
49,236
85,579
85,496
1,233,155

1,233,155

85,496

85,579

49,236

219,000

103,100

85,458

85,538

84,443

84,479

35,213

35,169

35,124

35,079

35,035

34,990

34,945

34,901

34,856

34,811

34,767

34,722

34,677

34,633

34,588

34,544

34,499

34,454

34,410

34,365

30,928

32,928

36,928

30,928

35,928

45,928

50,928

60,928

65,928

35,928

57,928

73,392

76,928

95,928

105,928

30,939

15,464

35,100

15,000

628,504

15,000

28,000

17,300

Long term Debt Total

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
45,928
45,928
45,928
35,928
35,928
35,928
35,928
30,928
30,928
30,928
30,928
30,928
30,928
30,928
36,928
32,928
32,928
32,928
32,928
30,928
30,928
34,365
34,410
34,454
34,499
34,544
34,588
34,633
34,677
34,722
34,767
34,811
34,856
34,901
34,945
34,990
35,035
35,079
35,124
35,169
35,213
84,479
84,443
84,498
84,565
84,632
84,695
84,762
84,829
0
0

84,829

84,762

84,695

84,632

84,565

84,498

84,443

84,479

35,213

35,169

35,124

35,079

35,035

34,990

34,945

34,901

34,856

34,811

34,767

34,722

34,677

34,633

34,588

34,544

34,499

34,454

34,410

34,365

30,928

32,928

36,928

30,928

35,928

45,928

Other Liabilities

0
0
3,875
4,588
3,398
3,884
4,089
4,016
4,000
7,169
6,235
8,131
8,022
7,799
5,802
4,834
8,231
8,495
8,753
5,667
9,888
9,730
10,758
10,406
14,436
13,463
13,555
13,507
16,396
15,927
14,790
14,871
18,322
16,114
18,031
15,955
16,525
12,756
12,847
12,274
12,161
14,709
13,247
14,125
13,843
14,122
13,758
14,413
13,737
14,488
13,275
14,163
15,514
15,980
14,685
15,346
17,141
17,494
17,519
20,218
19,250
21,155
14,205
20,515
16,425
23,936
19,323
19,977
15,646
24,020
25,002
24,205
24,008
31,332
28,312
25,367
26,435
25,912
30,034
23,904
24,861
26,589
24,698
28,348
34,385
35,078
32,468
32,657
80,554
35,568
35,962
44,010
52,005
38,717
42,363
0
0
0

42,363

38,717

52,005

44,010

35,962

35,568

80,554

32,657

32,468

35,078

34,385

28,348

24,698

26,589

24,861

23,904

30,034

25,912

26,435

25,367

28,312

31,332

24,008

24,205

25,002

24,020

15,646

19,977

19,323

23,936

16,425

20,515

14,205

21,155

19,250

20,218

17,519

17,494

17,141

15,346

14,685

15,980

15,514

14,163

13,275

14,488

13,737

14,413

13,758

14,122

13,843

14,125

13,247

14,709

12,161

12,274

12,847

12,756

16,525

15,955

18,031

16,114

18,322

14,871

14,790

15,927

16,396

13,507

13,555

13,463

14,436

10,406

10,758

9,730

9,888

5,667

8,753

8,495

8,231

4,834

5,802

7,799

8,022

8,131

6,235

7,169

4,000

4,016

4,089

3,884

3,398

4,588

3,875

> Total Stockholder Equity

34,900
34,800
37,435
38,011
39,084
40,782
42,009
42,962
45,310
46,141
46,141
50,063
52,439
53,287
54,898
56,895
58,602
59,976
63,008
63,218
69,135
71,135
73,192
76,579
77,441
78,763
82,354
83,461
88,876
90,371
92,600
93,419
98,625
99,464
101,361
101,891
108,875
106,800
109,289
110,398
132,265
134,480
136,925
139,751
138,469
159,597
161,523
165,412
168,325
168,564
170,245
172,537
174,473
173,892
175,542
175,171
178,056
181,674
184,169
186,922
186,240
187,091
188,484
186,106
187,052
190,340
194,347
198,315
208,528
205,878
210,417
216,123
219,083
255,942
255,320
260,238
263,208
273,024
284,068
296,852
303,353
309,285
319,459
327,433
336,247
343,896
347,981
357,729
364,507
362,494
325,691
299,047
295,072
303,582
307,010
309,592
308,859
338,097

338,097

308,859

309,592

307,010

303,582

295,072

299,047

325,691

362,494

364,507

357,729

347,981

343,896

336,247

327,433

319,459

309,285

303,353

296,852

284,068

273,024

263,208

260,238

255,320

255,942

219,083

216,123

210,417

205,878

208,528

198,315

194,347

190,340

187,052

186,106

188,484

187,091

186,240

186,922

184,169

181,674

178,056

175,171

175,542

173,892

174,473

172,537

170,245

168,564

168,325

165,412

161,523

159,597

138,469

139,751

136,925

134,480

132,265

110,398

109,289

106,800

108,875

101,891

101,361

99,464

98,625

93,419

92,600

90,371

88,876

83,461

82,354

78,763

77,441

76,579

73,192

71,135

69,135

63,218

63,008

59,976

58,602

56,895

54,898

53,287

52,439

50,063

46,141

45,310

42,962

42,009

40,782

39,084

38,011

37,435

34,800

34,900

Common Stock

0
0
2,285
2,285
2,285
2,285
2,285
2,285
2,285
2,285
2,285
2,645
2,771
2,815
3,138
3,474
3,937
4,513
5,091
5,795
7,474
8,829
10,310
11,257
11,612
12,221
12,894
14,177
14,749
16,102
17,563
17,717
19,243
18,757
19,055
20,024
20,819
21,069
13,466
13,469
33,949
41,371
41,452
41,598
41,607
63,477
63,550
64,024
56,624
64,321
64,338
64,338
64,344
64,384
64,541
64,855
65,505
65,780
65,886
65,310
64,649
64,153
64,000
63,033
62,324
62,404
62,688
62,825
72,370
72,626
73,508
73,553
73,668
111,138
111,599
111,740
112,079
112,507
113,001
113,061
112,797
116,486
112,600
112,645
112,645
117,120
113,453
113,453
114,096
116,917
111,673
111,727
112,111
112,928
111,801
110,097
109,638
110,446

110,446

109,638

110,097

111,801

112,928

112,111

111,727

111,673

116,917

114,096

113,453

117,120

112,645

112,600

116,486

112,797

113,061

113,001

112,507

112,079

111,740

111,599

111,138

73,668

73,553

73,508

72,626

72,370

62,825

62,688

62,404

62,324

63,033

64,000

64,153

64,649

65,310

65,886

65,780

65,505

64,855

64,541

64,384

64,344

64,338

64,321

56,624

64,024

63,550

63,477

41,607

41,598

41,452

41,371

33,949

13,469

13,466

21,069

20,819

20,024

19,055

18,757

19,243

17,717

17,563

16,102

14,749

14,177

12,894

12,221

11,612

11,257

10,310

8,829

7,474

5,795

5,091

4,513

3,937

3,474

3,138

2,815

2,771

2,645

2,285

Retained Earnings

31,600
32,500
34,778
35,483
36,476
37,430
37,988
39,216
40,855
42,651
42,651
45,803
47,423
48,594
49,956
51,678
53,344
54,124
56,429
58,499
60,912
62,060
64,044
65,951
66,908
68,382
71,564
72,906
76,384
75,928
76,356
78,760
80,829
80,125
80,384
83,319
87,458
83,746
85,659
87,284
86,422
89,142
90,783
92,628
92,816
93,570
94,261
95,604
97,288
98,174
99,207
101,087
101,877
103,128
104,615
107,566
109,942
112,817
114,420
115,580
115,712
116,026
117,511
117,809
118,795
122,701
125,146
127,638
128,699
132,180
134,800
138,066
141,870
144,197
148,469
154,020
158,650
164,117
170,258
176,328
181,332
186,867
189,882
195,147
202,464
208,371
216,218
224,689
231,717
234,410
227,445
233,179
239,496
243,082
246,723
251,119
256,201
259,050

259,050

256,201

251,119

246,723

243,082

239,496

233,179

227,445

234,410

231,717

224,689

216,218

208,371

202,464

195,147

189,882

186,867

181,332

176,328

170,258

164,117

158,650

154,020

148,469

144,197

141,870

138,066

134,800

132,180

128,699

127,638

125,146

122,701

118,795

117,809

117,511

116,026

115,712

115,580

114,420

112,817

109,942

107,566

104,615

103,128

101,877

101,087

99,207

98,174

97,288

95,604

94,261

93,570

92,816

92,628

90,783

89,142

86,422

87,284

85,659

83,746

87,458

83,319

80,384

80,125

80,829

78,760

76,356

75,928

76,384

72,906

71,564

68,382

66,908

65,951

64,044

62,060

60,912

58,499

56,429

54,124

53,344

51,678

49,956

48,594

47,423

45,803

42,651

40,855

39,216

37,988

37,430

36,476

35,483

34,778

32,500

31,600

Capital Surplus

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,760
9,316
2,221
2,249
2,304
2,364
2,660
2,720
2,707
2,624
2,648
2,574
2,539
2,526
2,605
2,569
2,663
2,650
2,689
2,772
2,755
2,764
2,832
3,057
2,954
2,940
2,937
2,929
2,994
3,034
3,066
3,135
3,237
3,333
3,307
3,367
3,462
3,644
3,736
3,961
4,190
3,710
3,910
4,281
4,585
4,470
4,148
4,561
4,887
0
0

4,887

4,561

4,148

4,470

4,585

4,281

3,910

3,710

4,190

3,961

3,736

3,644

3,462

3,367

3,307

3,333

3,237

3,135

3,066

3,034

2,994

2,929

2,937

2,940

2,954

3,057

2,832

2,764

2,755

2,772

2,689

2,650

2,663

2,569

2,605

2,526

2,539

2,574

2,648

2,624

2,707

2,720

2,660

2,364

2,304

2,249

2,221

9,316

1,760

Treasury Stock

Other Stockholders Equity

3,300
2,300
372
243
323
1,067
1,736
1,461
2,170
0
1,205
1,615
2,245
0
0
0
0
0
0
0
0
0
10,310
0
0
0
0
0
14,749
0
17,563
17,717
19,243
19,554
19,938
20,980
21,833
22,075
21,967
22,009
42,528
42,619
42,737
42,926
42,968
-61,825
65,268
1,760
65,940
2,221
66,587
66,642
66,708
2,660
2,720
2,707
2,624
2,648
2,574
2,539
2,526
2,605
2,569
2,663
2,650
2,689
2,772
2,755
2,764
2,832
3,057
2,954
2,940
2,937
2,929
2,994
3,034
3,066
3,135
3,237
3,333
-113,179
3,367
3,462
3,644
22,141
3,961
4,190
3,710
351,327
4,281
4,585
4,470
4,148
4,561
4,887
4,934
4,581

4,581

4,934

4,887

4,561

4,148

4,470

4,585

4,281

351,327

3,710

4,190

3,961

22,141

3,644

3,462

3,367

-113,179

3,333

3,237

3,135

3,066

3,034

2,994

2,929

2,937

2,940

2,954

3,057

2,832

2,764

2,755

2,772

2,689

2,650

2,663

2,569

2,605

2,526

2,539

2,574

2,648

2,624

2,707

2,720

2,660

66,708

66,642

66,587

2,221

65,940

1,760

65,268

-61,825

42,968

42,926

42,737

42,619

42,528

22,009

21,967

22,075

21,833

20,980

19,938

19,554

19,243

17,717

17,563

14,749

10,310

2,245

1,615

1,205

2,170

1,461

1,736

1,067

323

243

372

2,300

3,300

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	2,846,164	2,781,572	2,624,606	2,168,374	2,116,340	1,988,386	1,695,471	1,464,628	1,366,695	1,174,179	1,174,034	1,086,268	1,052,274	1,125,432	1,061,498	850,147	868,445	815,671	742,703	684,477	605,705	521,317	527,776	0	0
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
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
Accumulated Other Comprehensive Income	-35,980	-56,576	11,167	18,405	5,932	-6,666	-2,330	-1,760	2,546	4,307	429	3,720	3,848	898	2,719	979	-215	-1,659	-1,840	246	1,339	1,878	1,205	1,067	346	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
Capital Lease Obligations	0	0	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	110,446	112,928	116,917	117,120	116,486	112,507	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	0	4,148	3,910	3,736	3,307	3,066	2,937	2,832	2,689	2,605	0	2,660	2,221	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash	78,602	77,131	257,528	71,417	80,077	74,132	70,137	120,442	48,623	50,095	78,006	61,818	63,036	42,435	66,234	46,010	44,022	52,725	50,147	36,735	53,042	55,819	40,025	44,664	31,413	24,500
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
Cash And Short Term Investments	-78,602	1,012,054	1,230,842	615,391	680,876	634,611	628,466	650,525	556,205	561,978	503,050	442,006	63,036	42,435	66,234	46,010	44,022	52,725	50,147	36,735	53,042	55,819	40,025	44,664	31,413	24,500
Common Stock	110,446	112,928	116,917	117,120	116,486	112,507	111,138	72,626	62,404	64,153	65,780	64,384	64,321	63,477	41,371	21,069	18,757	16,102	12,221	8,829	4,513	2,815	2,285	2,285	2,285	0
Common Stock Shares Outstanding	14,738	15,023	15,353	15,280	15,437	15,432	14,358	13,652	13,585	14,136	14,290	14,120	14,085	12,192	10,415	9,780	10,045	10,262	10,358	10,188	10,062	9,713	9,171	9,135	9,212	9,123
Common Stock Total Equity	0	0	113,007	117,120	113,179	112,507	111,138	72,626	62,404	64,153	65,780	64,384	64,321	0	0	0	0	16,102	12,221	8,829	4,513	2,815	2,285	2,285	2,285	0
Current Deferred Revenue	0	0	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
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
Earning Assets	0	0	0	0	626,047	572,066	576,918	579,533	516,713	520,204	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Good Will	27,357	27,357	27,357	27,357	27,357	27,357	27,357	8,268	6,908	6,908	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	0	0	0	0	0
Intangible Assets	1,399	2,275	3,275	4,307	5,381	6,455	6,234	2,803	930	1,064	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,546	5,574	0	0
Inventory	58,255	-95,485	-268,867	-88,462	-89,106	1,082	5,481	2,225	3,193	3,991	8,290	19,964	16,718	21,605	26,030	7,127	556	0	533	2,524	2,784	1,421	769	1,530	0	0
Liabilities And Stockholders Equity	3,742,808	3,608,590	3,371,014	3,220,742	2,593,819	2,522,502	2,340,298	2,032,873	1,796,537	1,637,320	1,410,249	1,437,903	1,335,405	1,286,571	1,335,549	1,326,292	1,233,735	1,215,074	1,052,686	997,483	801,674	701,114	650,410	606,726	458,384	404,100
Long Term Debt	84,964	85,535	84,443	35,124	34,945	34,767	34,588	34,410	32,928	36,928	30,928	35,928	45,928	45,928	50,928	60,928	35,928	57,928	76,928	95,928	15,464	15,000	15,000	0	0	0
Long Term Debt Total	0	84,695	84,443	35,124	34,945	34,767	34,588	34,410	32,928	36,928	0	35,928	45,928	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Investments	1,358,007	1,271,804	973,314	2,986,200	2,356,337	569,433	569,907	538,158	1,124,602	961,056	0	867,288	742,283	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
Net Debt	495,929	227,404	-173,085	-36,293	-45,132	-39,365	-35,549	-86,032	-17,695	-19,167	-47,078	-30,890	-32,108	18,143	-5,306	98,837	184,906	187,606	94,642	137,180	-4,316	-36,496	20,758	-23,964	-17,613	-24,500
Net Invested Capital	783,561	85,535	84,443	521,920	364,230	363,891	312,430	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Receivables	20,347	18,354	11,246	16,074	8,229	8,587	7,682	6,354	5,808	5,852	4,990	5,095	0	0	0	0	6,864	6,693	0	0	0	0	0	4,902	2,498	2,400
Net Tangible Assets	0	161,022	331,862	312,232	276,547	239,212	222,351	194,807	182,502	179,119	0	168,348	163,020	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Working Capital	-2,072,607	811,408	-1,137,932	488,565	669,105	1,833,657	1,685,512	1,389,751	1,177,610	1,070,136	946,567	983,363	885,549	914,457	1,021,768	974,136	817,259	806,128	767,550	706,140	659,779	574,758	41,260	565,975	20,111	0
Non Current Assets Total	3,643,859	1,338,324	1,027,517	603,143	660,972	632,745	632,886	578,122	543,627	548,984	460,185	417,890	432,736	357,464	303,781	268,237	223,476	226,543	217,275	223,356	108,633	107,033	19,850	20,051	104,469	94,600
Non Current Liabilities Other	0	264,980	35,568	35,078	35,504	25,912	31,332	32,114	33,341	28,406	0	17,399	17,525	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Current Liabilities Total	1,233,155	219,000	84,443	35,124	34,945	34,767	34,588	34,410	32,928	36,928	30,928	35,928	45,928	45,928	50,928	60,928	35,928	57,928	76,928	105,928	15,464	628,504	15,000	0	0	0
Non Currrent Assets Other	3,467,418	-27,552	-3,792	-17,420	-12,967	8,954	11,578	8,075	690,897	-546,545	442,024	12	433,162	-351,920	-298,237	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,546	5,574	-104,469	-94,600
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
Other Assets	0	1,239,858	1,101,409	1,986,134	1,243,742	3,155,247	2,973,184	2,610,995	2,340,164	2,186,304	1,870,434	1,855,793	1,768,141	1,644,035	1,639,330	1,594,529	1,457,211	1,441,617	1,269,961	1,220,839	910,307	808,147	12,543	12,857	320,004	282,600
Other Current Assets	98,949	95,485	268,867	88,462	89,106	1,246,559	1,071,264	797,872	690,897	520,506	442,024	572,912	839,633	886,672	965,534	1,012,045	959,373	929,113	785,264	737,392	639,999	538,262	590,535	537,109	0	0
Other Current Liab	1,700,310	-219,000	2,271,174	-142,900	-20,000	2,158,611	2,027,868	1,695,471	1,464,628	1,366,695	0	1,174,034	1,086,268	0	0	0	0	0	0	0	0	0	528,517	0	0	0
Other Liab	0	38,717	35,568	35,078	26,589	25,912	31,332	24,020	23,936	21,155	17,494	15,980	14,488	14,122	14,709	12,756	16,114	15,927	13,463	9,730	8,495	7,799	7,169	3,884	0	0
Other Stockholder Equity	4,581	4,148	15,077	22,141	-113,179	3,066	2,937	2,832	2,689	2,605	2,648	2,660	2,221	-61,825	42,619	22,075	19,554	0	0	0	0	0	1,205	1,067	346	4,500
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
Preferred Stock Total Equity	0	112,928	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	47,168	59,673	59,753	27,505	27,435	29,500	29,388	28,893	21,990	21,853	20,393	21,842	20,721	20,190	20,069	19,280	18,255	17,978	18,055	19,788	18,291	17,578	14,304	14,477	11,597	10,800
Property Plant And Equipment Net	42,707	22,478	23,571	27,505	27,435	29,500	29,388	28,893	21,990	21,853	20,393	21,830	20,721	20,190	20,069	19,280	18,255	17,978	18,055	19,788	18,291	17,578	14,304	14,477	11,597	10,800
Property Plant Equipment	0	22,478	23,571	27,505	27,435	29,500	29,388	28,893	21,990	21,853	20,393	21,842	21,105	20,190	20,069	19,280	20,467	20,796	20,168	19,788	18,291	17,578	14,304	14,477	0	0
Retained Earnings	259,050	243,082	234,410	208,371	186,867	164,117	144,197	132,180	122,701	116,026	112,817	103,128	98,174	93,570	89,142	83,746	80,125	75,928	68,382	62,060	54,124	48,594	42,651	37,430	34,068	30,500
Retained Earnings Total Equity	0	243,082	234,410	208,371	186,867	164,117	144,197	132,180	122,701	116,026	0	103,128	98,174	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt	360,500	219,000	0	142,900	20,000	56,100	21,900	65,000	2,000	4,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt Total	574,531	304,535	84,443	35,124	34,945	34,767	34,588	34,410	30,928	30,928	30,928	30,928	30,928	60,578	60,928	144,847	228,928	240,331	144,789	173,915	48,726	19,323	60,783	20,700	13,800	0
Short Term Debt	471,246	219,000	108,846	142,900	20,000	56,100	21,900	65,000	75,300	18,200	3,497	36,650	17,120	14,650	10,000	83,919	193,000	182,403	67,861	67,987	33,262	19,323	60,783	20,700	13,800	0
Short Term Investments	1,019,201	934,923	973,314	543,974	600,799	560,479	558,329	530,083	507,582	511,883	425,044	380,188	13,710	331,730	278,168	243,413	184,917	190,272	193,676	198,024	84,798	83,911	190	1,477	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
Total Assets	3,742,808	3,608,590	3,371,014	3,220,742	2,593,819	2,522,502	2,340,298	2,032,873	1,796,537	1,637,320	1,410,249	1,437,903	1,335,405	1,286,571	1,335,549	1,326,292	1,233,735	1,215,074	1,052,686	997,483	801,674	701,114	650,410	606,726	458,384	404,100
Total Current Assets	98,949	1,030,408	1,242,088	631,465	689,105	1,889,757	1,707,412	1,454,751	1,252,910	1,088,336	950,064	1,020,013	902,669	929,107	1,031,768	1,058,055	1,010,259	988,531	835,411	774,127	693,041	594,081	630,560	586,675	33,911	26,900
Total Current Liabilities	2,171,556	219,000	2,380,020	142,900	20,000	56,100	21,900	65,000	75,300	18,200	3,497	36,650	17,120	14,650	10,000	83,919	193,000	182,403	67,861	67,987	33,262	19,323	589,300	20,700	13,800	0
Total Liab	3,404,711	3,305,008	84,443	2,876,846	2,284,534	2,249,478	2,084,356	1,826,995	1,606,197	1,450,229	1,228,575	1,264,011	1,166,841	1,126,974	1,201,069	1,219,492	1,134,271	1,124,703	973,923	926,348	741,698	647,827	604,269	565,944	421,685	369,100
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
Total Stockholder Equity	338,097	303,582	362,494	343,896	309,285	273,024	255,942	205,878	190,340	187,091	181,674	173,892	168,564	159,597	134,480	106,800	99,464	90,371	78,763	71,135	59,976	53,287	46,141	40,782	36,699	35,000
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
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

	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	1999-06-30	1999-03-31
Accounts Payable	0	0	0	2,948,988	2,846,164	2,885,468	2,850,999	2,864,943	2,781,572	2,820,646	2,775,914	2,853,892	2,624,606	2,591,713	2,506,754	2,179,391	2,168,374	2,196,207	2,179,098	2,160,748	2,116,340	2,106,053	2,087,922	2,036,630	1,988,386	1,779,579	1,791,857	1,720,421	1,695,471	1,633,831	1,486,074	1,488,086	1,464,628	1,429,114	1,471,590	1,391,015	1,366,695	1,223,046	1,246,127	1,220,178	1,174,179	1,151,478	1,155,016	1,155,934	1,174,034	1,145,853	1,149,534	1,122,878	1,086,268	1,093,619	1,116,166	1,091,705	1,052,274	1,089,555	1,091,602	1,108,000	1,125,432	1,062,851	1,076,619	1,095,009	1,061,498	961,034	963,315	923,548	850,147	886,579	923,683	902,122	868,445	2,776	1,765	2,153	815,671	2,214	1,453	1,995	742,703	1,653	1,028	765	684,477	572	361	599,967	605,705	847	720	488	521,317	521,438	872	1,230	527,776	1,029	1,040	686	-	600
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	-	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	-	0
Accumulated Other Comprehensive Income	-35,980	-61,914	-56,511	-56,075	-56,576	-61,005	-50,444	-17,708	11,167	14,984	15,397	14,349	18,405	17,494	16,179	13,610	5,932	5,891	4,226	-2,326	-6,666	-10,555	-8,516	-7,677	-2,330	605	1,550	-948	-1,760	4,695	5,097	3,741	2,546	3,283	2,601	4,404	4,307	3,353	3,493	1,289	429	-15	43	3,666	3,720	5,888	4,808	4,451	3,848	5,097	4,024	1,994	898	2,685	4,197	3,405	2,719	3,315	1,105	1,663	979	-416	-2,408	1,039	-215	-1,447	-3,058	-1,319	-1,659	-2,257	-3,622	-2,104	-1,840	-1,079	-629	-1,162	246	749	-1,076	1,488	1,339	1,321	1,743	1,804	1,878	2,245	1,615	1,205	0	2,170	1,461	1,736	1,067	323	243	372	-	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	-	0
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	110,446	109,638	110,097	111,801	112,928	112,111	111,727	111,673	116,917	114,096	113,453	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	4,887	4,561	4,148	4,470	4,585	4,281	3,910	3,710	4,190	3,961	3,736	3,644	3,462	3,367	3,307	3,333	3,237	3,135	3,066	3,034	2,994	2,929	2,937	2,940	2,954	3,057	2,832	2,764	2,755	2,772	2,689	2,650	2,663	2,569	2,605	2,526	2,539	2,574	2,648	2,624	2,707	2,720	2,660	2,364	2,304	2,249	2,221	9,316	1,760	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	78,602	88,542	103,483	83,506	77,131	86,683	161,875	253,534	257,528	422,350	373,902	346,211	71,417	88,933	156,611	106,992	80,077	80,689	67,790	68,063	74,132	65,039	85,102	63,509	70,137	54,607	77,175	92,768	120,442	65,442	53,041	44,008	48,623	48,988	46,690	47,905	50,095	39,678	48,824	72,164	78,006	60,969	66,982	47,949	61,818	45,095	48,926	71,742	63,036	58,305	68,367	57,522	42,435	41,693	47,819	42,012	66,234	33,716	37,160	29,261	46,010	38,237	52,737	43,150	44,022	38,166	44,366	40,908	52,725	41,870	49,444	41,627	50,147	43,508	37,335	35,022	36,735	32,609	46,893	41,363	53,042	45,023	43,419	43,230	55,819	51,822	37,923	40,025	40,025	34,342	36,675	37,638	44,664	43,872	42,809	25,902	23,900	19,100
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	-	0
Cash And Short Term Investments	-78,602	1,098,919	1,131,021	1,124,426	1,012,054	1,156,117	1,026,053	1,278,566	257,528	1,154,662	981,376	899,142	615,391	666,211	755,944	727,146	680,876	680,595	645,056	631,691	634,611	613,854	645,070	627,091	628,466	637,807	656,756	644,024	650,525	601,022	581,580	566,618	556,205	558,588	553,609	562,371	561,978	507,366	508,568	516,961	503,050	467,058	460,558	446,704	442,006	45,095	48,926	71,742	63,036	58,305	68,367	57,522	42,435	41,693	47,819	42,012	66,234	33,716	37,160	29,261	46,010	38,237	52,737	43,150	44,022	38,166	44,366	40,908	52,725	41,870	49,444	41,627	50,147	43,508	37,335	35,022	36,735	32,609	46,893	41,363	53,042	45,023	43,419	43,230	55,819	51,822	37,923	40,025	0	34,342	36,675	37,638	44,664	43,872	42,809	25,902	23,900	19,100
Common Stock	110,446	109,638	110,097	111,801	112,928	112,111	111,727	111,673	116,917	114,096	113,453	113,453	117,120	112,645	112,645	112,600	116,486	112,797	113,061	113,001	112,507	112,079	111,740	111,599	111,138	73,668	73,553	73,508	72,626	72,370	62,825	62,688	62,404	62,324	63,033	64,000	64,153	64,649	65,310	65,886	65,780	65,505	64,855	64,541	64,384	64,344	64,338	64,338	64,321	56,624	64,024	63,550	63,477	41,607	41,598	41,452	41,371	33,949	13,469	13,466	21,069	20,819	20,024	19,055	18,757	19,243	17,717	17,563	16,102	14,749	14,177	12,894	12,221	11,612	11,257	10,310	8,829	7,474	5,795	5,091	4,513	3,937	3,474	3,138	2,815	2,771	2,645	2,285	2,285	2,285	2,285	2,285	2,285	2,285	2,285	2,285	-	0
Common Stock Shares Outstanding	14,588	14,636	14,755	15,002	14,999	15,014	15,004	15,121	15,297	15,344	15,376	15,356	15,457	15,387	15,238	15,340	15,393	15,435	15,458	15,448	15,441	15,444	15,429	15,412	15,387	14,014	14,010	14,009	13,931	13,904	13,393	13,387	13,373	13,482	13,686	13,805	13,894	14,073	14,213	14,373	14,383	14,329	14,227	14,194	14,146	14,139	14,108	14,108	14,103	14,097	14,085	14,061	14,061	11,738	11,750	11,694	11,694	10,457	9,761	9,752	9,752	9,765	9,767	9,802	9,802	10,008	10,090	10,149	10,149	10,289	10,269	10,271	10,271	10,366	10,408	10,386	10,386	10,133	10,069	10,082	10,082	10,044	10,061	9,867	9,867	9,715	9,757	9,455	9,218	9,212	9,212	9,212	9,212	9,212	9,212	9,212	10,000	9,231
Common Stock Total Equity	0	0	110,097	111,801	0	112,111	111,727	111,673	113,007	114,096	113,453	113,453	117,120	112,645	112,645	112,600	113,179	112,797	113,061	113,001	112,507	112,079	111,740	111,599	111,138	73,668	73,553	73,508	72,626	72,370	62,825	62,688	62,404	62,324	63,033	64,000	64,153	64,649	65,310	65,886	65,780	65,505	64,855	64,541	64,384	64,344	64,338	64,321	64,321	56,624	64,024	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	16,102	16,102	0	14,177	12,894	12,221	11,612	11,257	10,310	8,829	7,474	5,795	5,091	4,513	3,937	3,474	3,138	2,815	2,771	2,645	2,285	2,285	2,285	2,285	2,285	2,285	2,285	2,285	2,285	-	0
Current Deferred Revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-	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	-	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	648,486	615,320	612,286	579,345	572,751	562,172	554,664	577,165	570,870	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	27,357	27,357	27,357	27,357	27,357	27,357	27,357	27,357	27,357	27,357	27,357	27,357	27,357	27,357	27,357	27,357	27,357	27,357	27,357	27,357	27,357	27,357	27,357	27,357	27,357	8,268	8,268	8,268	8,268	7,932	6,908	6,908	6,908	6,908	6,908	6,908	6,908	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	0	0	5,544	5,544	0	0	0	5,544	0	0	0	5,544	0	0	0	5,544	0	0	0	5,544	0	0	0	5,544	0	0	0	5,544	0	0	0	0	0	0	0	0	0	0	0	0	0	5,800	0	-	0
Intangible Assets	1,399	1,618	1,837	2,056	2,275	2,517	2,769	3,022	3,275	3,527	3,780	4,038	4,307	4,575	4,844	5,112	5,381	5,650	5,918	6,187	6,455	6,724	6,919	6,004	6,234	2,483	2,589	2,696	2,803	2,909	1,170	896	930	963	997	1,030	1,064	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	5,544	0	5,544	0	0	0	5,544	0	0	0	5,544	0	0	0	5,544	0	0	0	5,544	0	0	0	5,544	0	0	0	5,544	0	0	0	5,544	0	0	0	5,544	0	0	0	5,546	0	0	0	5,574	0	5,800	0	-	0
Inventory	58,255	0	0	0	-95,485	0	2	93	93	93	774	945	971	2,970	2,893	766	800	762	770	806	1,082	2,212	2,112	5,371	5,481	2,674	2,141	2,168	2,225	2,782	2,897	3,115	3,193	3,003	3,393	3,194	3,991	4,719	4,498	7,237	8,290	9,171	11,357	16,536	19,964	20,453	14,673	16,442	16,718	18,185	18,231	19,214	21,605	25,898	25,957	26,305	26,030	23,327	10,907	7,440	7,127	3,909	1,820	0	556	0	0	0	0	0	0	0	533	545	1,899	2,234	2,524	2,039	2,606	3,041	2,784	1,319	1,485	1,594	1,421	1,319	1,388	680	769	774	884	1,840	1,530	1,449	1,666	1,197	-	0
Liabilities And Stockholders Equity	3,742,808	3,738,880	3,762,461	3,693,984	3,608,590	3,532,289	3,396,635	3,418,854	3,371,014	3,442,739	3,272,048	3,326,037	3,220,742	3,199,618	3,110,044	2,670,469	2,593,819	2,635,960	2,577,032	2,539,087	2,522,502	2,463,040	2,425,443	2,373,524	2,340,298	2,077,993	2,077,980	1,999,725	2,032,873	1,973,240	1,843,288	1,764,167	1,796,537	1,717,134	1,734,111	1,733,417	1,637,320	1,489,024	1,498,039	1,458,321	1,410,249	1,383,299	1,378,424	1,386,362	1,437,903	1,423,302	1,399,692	1,348,171	1,335,405	1,351,242	1,345,899	1,312,949	1,286,571	1,300,055	1,328,306	1,315,250	1,335,549	1,307,049	1,295,816	1,307,872	1,326,292	1,316,907	1,308,303	1,281,762	1,233,735	1,208,077	1,215,953	1,215,844	1,215,074	1,173,229	1,148,504	1,102,230	1,052,686	1,036,625	1,010,686	1,002,691	997,483	947,648	932,729	823,205	801,674	761,905	734,987	691,050	701,114	682,408	677,930	650,410	650,410	592,071	588,660	598,615	606,726	606,814	606,602	480,544	415,500	399,100
Long Term Debt	84,964	85,496	85,579	125,612	85,535	85,572	85,458	85,538	84,443	84,479	35,213	35,169	35,124	35,079	35,035	34,990	34,945	34,901	34,856	34,811	34,767	34,722	34,677	34,633	34,588	34,544	34,499	34,454	34,410	34,365	30,928	30,928	32,928	32,928	32,928	32,928	36,928	30,928	30,928	30,928	30,928	30,928	30,928	30,928	35,928	35,928	35,928	35,928	45,928	45,928	45,928	45,928	45,928	45,928	45,928	45,928	50,928	50,928	50,928	50,928	60,928	60,928	60,928	65,928	35,928	35,928	35,928	57,928	57,928	73,392	73,392	76,928	76,928	76,928	95,928	105,928	105,928	105,928	105,928	30,939	15,464	19,919	49,324	15,029	15,000	21,836	15,040	15,045	15,000	0	0	0	0	0	0	0	-	0
Long Term Debt Total	0	0	84,829	84,762	84,695	84,632	84,565	84,498	84,443	84,479	35,213	35,169	35,124	35,079	35,035	34,990	34,945	34,901	34,856	34,811	34,767	34,722	34,677	34,633	34,588	34,544	34,499	34,454	34,410	34,365	30,928	30,928	32,928	32,928	32,928	32,928	36,928	30,928	30,928	30,928	30,928	30,928	30,928	30,928	35,928	35,928	35,928	35,928	45,928	45,928	45,928	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	1,358,007	1,333,921	1,356,016	1,373,648	1,271,804	1,225,645	1,025,577	1,025,032	973,314	732,312	607,474	2,819,363	2,986,200	2,938,914	2,795,253	2,409,467	2,356,337	599,906	577,266	2,307,966	2,285,259	2,236,464	2,178,096	1,586,178	1,551,551	1,305,546	1,292,777	1,229,178	1,255,754	1,249,406	1,147,871	1,086,278	1,124,602	1,045,674	1,064,686	1,056,906	961,056	874,169	882,800	827,524	793,192	800,017	799,774	816,018	867,288	835,868	804,874	735,514	742,283	738,550	752,069	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-	0
Net Debt	495,929	-3,046	-17,904	42,106	227,404	101,989	-76,417	-167,996	-173,085	-337,871	-338,689	-311,042	-36,293	-53,854	-121,576	-72,002	-45,132	-45,788	-32,934	-33,252	-39,365	-30,317	-50,425	-23,076	-35,549	-20,063	-42,676	-58,314	-86,032	-31,077	-22,113	-13,080	-17,695	-18,060	-15,762	-16,977	-19,167	-8,750	-17,896	-41,236	-47,078	-30,041	-36,054	-17,021	-30,890	-14,167	-17,998	-40,814	12	-27,377	-37,439	-11,594	18,143	16,495	35,009	15,066	-5,306	66,012	32,868	36,667	98,837	151,891	126,091	159,778	184,906	143,462	63,562	96,020	187,606	148,122	126,748	132,101	94,642	67,420	75,593	85,906	137,180	88,322	94,442	-10,424	-4,316	-25,359	5,058	-27,876	-36,496	-29,986	-22,883	20,758	20,758	-29,292	-21,975	-37,638	-23,964	-15,872	-42,809	-16,302	-6,600	-15,700
Net Invested Capital	783,561	85,496	85,579	125,612	85,535	85,572	85,458	85,538	84,443	84,479	35,213	35,169	521,920	529,326	525,468	428,549	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	20,347	0	0	0	18,354	0	0	0	11,246	0	0	16,074	16,074	0	0	8,229	8,229	8,100	0	8,587	8,587	0	0	7,682	7,682	0	0	6,354	6,354	0	0	5,808	5,808	0	0	5,852	5,852	0	0	4,990	4,990	0	0	5,095	5,095	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	6,864	6,864	0	0	6,693	6,693	6,557	6,245	5,536	0	4,854	4,680	4,377	0	4,151	3,838	3,820	0	3,479	3,411	3,569	0	3,617	3,492	3,866	0	4,000	4,018	4,444	4,902	4,745	3,961	3,522	-	1,900
Net Tangible Assets	0	0	280,398	277,597	161,022	295,072	268,921	295,312	331,862	333,623	357,729	316,586	312,232	304,315	295,232	316,521	276,547	270,346	263,577	250,524	239,212	229,127	225,962	221,959	222,351	208,332	205,266	199,453	194,807	197,687	190,237	186,543	182,502	179,181	178,201	180,546	179,119	180,696	181,378	178,625	176,130	172,512	169,627	169,998	168,348	168,929	166,993	164,701	163,020	162,781	159,868	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-2,072,607	-984,995	885,821	907,626	811,408	1,053,017	-1,803,783	-1,694,137	-2,619,735	-258,146	-238,961	2,709,916	2,469,378	2,405,192	2,287,731	1,915,321	1,906,021	1,932,859	1,929,606	-307,148	1,833,657	1,834,046	-329,483	1,741,721	1,685,512	1,445,169	-368,296	-346,313	1,389,751	1,326,438	1,190,522	1,188,770	1,177,610	1,135,986	1,185,291	1,090,525	1,070,136	972,420	1,004,207	-256,473	946,567	-223,127	-214,028	954,117	983,363	933,005	925,222	-237,030	885,549	871,415	-217,014	-684,324	914,457	347,140	317,484	325,987	1,021,768	250,570	249,120	248,890	974,136	144,903	175,938	141,764	817,259	-107,534	-27,634	-38,092	806,128	118,630	142,691	145,705	767,550	214,576	230,705	221,407	706,140	218,073	210,583	137,617	659,779	107,422	81,107	116,397	574,758	-476,823	-482,342	41,260	41,260	33,292	39,821	40,852	565,975	47,588	45,730	19,138	-	17,000
Non Current Assets Total	3,643,859	1,355,847	1,378,088	1,395,969	1,338,324	1,278,207	1,078,640	1,078,650	996,885	787,686	664,560	611,121	608,464	636,426	659,313	681,048	667,798	660,901	638,926	626,027	632,745	612,894	624,426	626,003	632,886	622,324	618,876	591,238	578,122	575,202	559,066	552,597	543,627	539,648	537,120	544,092	548,984	494,214	486,082	471,494	460,185	432,126	420,052	425,645	417,890	442,397	449,830	443,201	432,736	454,827	428,313	20,608	357,464	20,128	19,941	19,905	303,781	19,779	19,097	18,993	268,237	19,024	18,809	18,240	223,476	203,169	204,802	208,802	226,543	18,343	18,440	18,128	217,275	17,469	17,138	17,353	223,356	17,678	19,477	19,112	108,633	17,847	17,379	17,272	107,033	16,681	14,932	19,850	0	114,648	125,060	120,108	20,051	132,104	130,495	113,429	11,400	100,100
Non Current Liabilities Other	0	0	375,559	259,163	264,980	155,105	44,010	35,962	35,568	80,554	32,657	32,468	35,078	41,922	36,373	33,168	35,504	34,142	33,559	40,100	25,912	26,435	25,367	28,312	31,332	24,008	35,501	34,433	32,114	24,916	34,271	28,006	33,341	26,540	31,787	22,190	28,406	26,420	26,312	23,046	23,468	22,837	17,309	17,358	17,399	19,148	17,053	19,120	17,525	18,370	18,393	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	1,233,155	85,496	85,579	49,236	219,000	103,100	85,458	85,538	84,443	84,479	35,213	35,169	35,124	35,079	35,035	34,990	34,945	34,901	34,856	34,811	34,767	34,722	34,677	34,633	34,588	34,544	34,499	34,454	34,410	34,365	30,928	30,928	32,928	32,928	32,928	32,928	36,928	30,928	30,928	30,928	30,928	30,928	30,928	30,928	35,928	35,928	35,928	35,928	45,928	45,928	45,928	45,928	45,928	45,928	45,928	45,928	50,928	50,928	50,928	50,928	60,928	60,928	60,928	65,928	35,928	35,928	35,928	57,928	57,928	73,392	73,392	76,928	76,928	76,928	95,928	105,928	105,928	105,928	105,928	30,939	15,464	35,100	15,000	15,000	628,504	15,000	15,000	15,000	0	0	0	0	0	28,000	0	0	17,300	0
Non Currrent Assets Other	3,467,418	-1,355,847	-1,378,088	-29,413	-27,552	-1,278,207	151,339	127,069	-996,885	111,106	-602,286	-579,726	5,321	-604,494	1,694,787	1,262,275	6,826	1,294,464	1,293,050	1,281,369	8,954	1,236,292	1,155,947	1,120,430	11,578	817,862	802,348	764,463	8,075	797,016	702,642	644,952	690,897	-531,777	-529,215	-536,154	-546,545	-488,670	-480,538	469,866	442,024	484,115	497,814	514,013	12	521,175	478,740	416,362	433,162	408,282	446,483	-375,027	-351,920	-318,032	-306,890	-295,450	-298,237	-266,079	-236,385	-239,679	5,544	-240,916	-241,150	-235,664	5,544	-203,169	-204,802	-208,802	5,544	-192,502	-191,567	-197,495	5,544	-207,843	-207,143	-205,062	5,544	-204,103	-202,366	-95,067	5,544	-79,156	-83,115	-84,952	5,544	-84,566	-89,143	5,546	0	-114,648	-125,060	-120,108	5,574	-132,104	-130,495	-113,429	100	-100,100
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	-	0
Other Assets	0	1,284,114	1,253,352	1,173,589	1,239,858	1,097,965	1,994,721	1,061,638	2,105,355	4,230,425	3,936,608	3,937,158	3,829,206	3,836,044	3,769,357	3,351,517	3,261,617	3,296,861	3,215,958	3,165,114	3,155,247	3,075,934	3,049,869	2,999,527	2,973,184	2,700,317	2,696,856	2,590,963	2,610,995	2,548,442	2,402,354	2,316,764	2,340,164	2,256,782	2,271,231	2,277,509	2,186,304	1,983,238	1,984,121	1,929,815	1,870,434	1,815,425	1,798,476	1,812,007	1,855,793	1,865,699	1,849,522	1,791,372	1,768,141	1,806,069	1,774,212	871,165	1,644,035	920,527	953,981	958,208	1,639,330	987,900	1,008,499	1,024,989	1,594,529	1,023,780	995,656	984,758	1,457,211	966,742	966,785	966,134	1,441,617	916,880	882,808	839,444	1,269,961	768,366	744,390	746,936	1,220,839	695,241	666,234	665,711	910,307	616,400	587,663	542,027	808,147	527,550	532,440	522,106	114,919	439,081	422,907	436,425	129,417	426,093	429,337	337,691	-	278,000
Other Current Assets	98,949	93,842	108,583	88,706	95,485	94,983	-702,779	18,200	-194,381	1,500,391	1,626,112	1,815,774	1,980,813	1,896,981	1,694,787	1,262,275	1,236,916	1,294,464	1,293,050	1,281,369	1,246,559	1,236,292	1,155,947	1,120,430	1,071,264	817,862	802,348	764,463	797,872	797,016	702,642	644,952	690,897	618,898	643,382	626,954	520,506	487,444	503,389	469,866	442,024	484,115	497,814	514,013	572,912	935,810	900,936	833,228	839,633	838,110	849,219	0	886,672	0	0	0	965,534	0	0	0	1,012,045	0	0	0	959,373	0	0	0	929,113	0	0	0	785,264	0	0	0	737,392	0	0	0	639,999	0	0	0	538,262	0	0	590,535	0	0	0	0	537,109	0	0	0	380,200	0
Other Current Liab	1,700,310	1,752,049	-245,200	-216,800	-219,000	-103,100	2,009,043	2,864,943	2,781,572	2,820,646	2,775,914	2,853,892	2,624,606	2,591,713	2,506,754	2,179,391	2,168,374	2,196,207	2,179,098	2,160,748	2,116,340	2,106,053	2,087,922	2,036,930	1,988,386	1,781,179	1,791,857	1,720,421	1,695,471	1,633,831	1,486,074	1,488,086	1,464,628	1,429,114	1,471,590	1,391,015	1,366,695	1,223,046	1,246,127	1,220,178	1,174,179	1,151,478	1,155,016	1,155,934	1,174,034	1,145,853	1,149,534	1,122,878	1,086,268	1,093,619	1,116,166	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-765	0	0	0	0	0	614,153	612,180	528,517	0	0	-872	-1,230	0	-1,029	-1,040	0	-	0
Other Liab	0	0	0	42,363	38,717	52,005	44,010	35,962	35,568	80,554	32,657	32,468	35,078	34,385	28,348	24,698	26,589	24,861	23,904	30,034	25,912	26,435	25,367	28,312	31,332	24,008	24,205	25,002	24,020	15,646	19,977	19,323	23,936	16,425	20,515	14,205	21,155	19,250	20,218	17,519	17,494	17,141	15,346	14,685	15,980	15,514	14,163	13,275	14,488	13,737	14,413	13,758	14,122	13,843	14,125	13,247	14,709	12,161	12,274	12,847	12,756	16,525	15,955	18,031	16,114	18,322	14,871	14,790	15,927	16,396	13,507	13,555	13,463	14,436	10,406	10,758	9,730	9,888	5,667	8,753	8,495	8,231	4,834	5,802	7,799	8,022	8,131	6,235	7,169	4,000	4,016	4,089	3,884	3,398	4,588	3,875	-	0
Other Stockholder Equity	4,581	4,934	4,887	4,561	4,148	4,470	4,585	4,281	351,327	3,710	4,190	3,961	22,141	3,644	3,462	3,367	-113,179	3,333	3,237	3,135	3,066	3,034	2,994	2,929	2,937	2,940	2,954	3,057	2,832	2,764	2,755	2,772	2,689	2,650	2,663	2,569	2,605	2,526	2,539	2,574	2,648	2,624	2,707	2,720	2,660	66,708	66,642	66,587	2,221	65,940	1,760	65,268	-61,825	42,968	42,926	42,737	42,619	42,528	22,009	21,967	22,075	21,833	20,980	19,938	19,554	19,243	17,717	17,563	0	14,749	0	0	0	0	0	10,310	0	0	0	0	0	0	0	0	0	2,245	1,615	1,205	0	2,170	1,461	1,736	1,067	323	243	372	2,300	3,300
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	-	0
Preferred Stock Total Equity	0	0	0	0	112,928	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	47,168	0	0	0	59,673	0	0	0	0	0	25,949	26,795	27,505	27,216	27,779	28,425	27,435	27,988	28,385	28,855	29,500	29,998	30,182	29,060	29,388	28,373	28,438	29,018	28,893	28,781	22,449	22,183	21,990	22,177	22,296	21,688	21,853	20,982	20,794	21,153	20,393	20,493	20,932	21,346	21,842	22,218	22,090	20,791	20,721	19,455	20,033	20,608	20,190	20,128	19,941	19,905	20,069	19,779	19,097	18,993	19,280	19,024	18,809	18,240	18,255	18,612	18,721	18,187	17,978	21,266	18,440	18,128	18,055	17,469	17,138	17,353	19,788	17,678	19,477	19,112	18,291	17,847	17,379	17,272	17,578	16,681	14,932	14,304	14,304	14,240	14,492	14,628	14,477	15,872	15,916	11,835	11,300	12,600
Property Plant And Equipment Net	42,707	21,926	22,072	22,321	22,478	22,688	22,937	23,239	23,571	24,490	25,949	26,795	27,505	27,216	27,779	28,425	27,435	27,988	28,385	28,855	29,500	29,998	30,182	29,060	29,388	28,373	28,438	29,018	28,893	28,781	22,449	22,183	21,990	22,177	22,296	21,688	21,853	20,982	20,794	21,153	20,393	20,493	20,932	21,346	21,830	22,218	22,090	20,791	20,721	19,455	20,033	20,608	20,190	20,128	19,941	19,905	20,069	19,779	19,097	18,993	19,280	19,024	18,809	18,240	18,255	18,612	18,721	18,187	17,978	21,266	18,440	18,128	18,055	17,469	17,138	17,353	19,788	17,678	19,477	19,112	18,291	17,847	17,379	17,272	17,578	16,681	14,932	14,304	0	14,240	14,492	14,628	14,477	15,872	15,916	11,835	11,300	12,600
Property Plant Equipment	0	0	22,072	22,321	22,478	22,688	22,937	23,239	23,571	24,490	25,949	26,795	27,505	27,216	27,779	28,425	27,435	36,665	28,385	28,855	29,500	29,998	30,182	29,060	29,388	28,373	28,438	29,018	28,893	28,781	22,449	22,183	21,990	22,177	22,296	21,688	21,853	20,982	20,794	21,153	20,393	20,493	20,932	21,346	21,842	22,486	22,396	21,136	21,105	19,962	20,580	20,608	20,190	20,128	19,941	19,905	20,069	19,779	19,097	18,993	19,280	19,024	18,809	18,240	20,467	18,612	18,721	18,187	20,796	21,266	21,468	21,094	20,168	19,374	19,094	19,360	19,788	19,433	19,477	19,112	18,291	17,847	17,379	17,272	17,578	16,681	14,932	14,333	14,304	14,240	14,492	14,628	14,477	14,423	14,250	11,835	-	0
Retained Earnings	259,050	256,201	251,119	246,723	243,082	239,496	233,179	227,445	234,410	231,717	224,689	216,218	208,371	202,464	195,147	189,882	186,867	181,332	176,328	170,258	164,117	158,650	154,020	148,469	144,197	141,870	138,066	134,800	132,180	128,699	127,638	125,146	122,701	118,795	117,809	117,511	116,026	115,712	115,580	114,420	112,817	109,942	107,566	104,615	103,128	101,877	101,087	99,207	98,174	97,288	95,604	94,261	93,570	92,816	92,628	90,783	89,142	86,422	87,284	85,659	83,746	87,458	83,319	80,384	80,125	80,829	78,760	76,356	75,928	76,384	72,906	71,564	68,382	66,908	65,951	64,044	62,060	60,912	58,499	56,429	54,124	53,344	51,678	49,956	48,594	47,423	45,803	42,651	42,651	40,855	39,216	37,988	37,430	36,476	35,483	34,778	32,500	31,600
Retained Earnings Total Equity	0	0	251,119	246,723	243,082	239,496	233,179	227,445	234,410	231,717	224,689	216,218	208,371	202,464	195,147	189,882	186,867	181,332	176,328	170,258	164,117	158,650	154,020	148,469	144,197	141,870	138,066	134,800	132,180	128,699	127,638	125,146	122,701	118,795	117,809	117,511	116,026	115,712	115,580	114,420	112,817	109,942	107,566	104,615	103,128	101,877	101,087	99,207	98,174	97,288	95,604	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	360,500	237,000	245,200	216,800	219,000	103,100	0	0	0	0	0	5,000	142,900	158,000	163,000	74,100	20,000	42,200	8,500	0	0	0	51,916	53,262	64,638	55,323	45,795	9,431	107,504	80,870	103,894	31,483	2,000	0	0	0	4,000	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Short Long Term Debt Total	574,531	85,496	85,579	125,612	304,535	188,672	85,458	85,538	84,443	84,479	35,213	35,169	35,124	35,079	35,035	34,990	34,945	34,901	34,856	34,811	34,767	34,722	34,677	40,433	34,588	34,544	34,499	34,454	34,410	34,365	30,928	30,928	30,928	30,928	30,928	30,928	30,928	30,928	30,928	30,928	30,928	30,928	30,928	30,928	30,928	30,928	30,928	30,928	63,048	30,928	30,928	45,928	60,578	58,188	82,828	57,078	60,928	99,728	70,028	65,928	144,847	190,128	178,828	202,928	228,928	181,628	107,928	136,928	240,331	189,992	176,192	173,728	144,789	110,928	112,928	120,928	173,915	120,931	141,335	30,939	48,726	19,664	48,477	15,354	19,323	21,836	15,040	60,783	60,783	5,050	14,700	0	20,700	28,000	0	9,600	17,300	3,400
Short Term Debt	471,246	331,865	245,200	216,800	219,000	103,100	118,014	107,760	106,937	92,553	70,535	5,000	142,900	158,000	163,000	74,100	20,000	42,200	8,500	56,100	56,100	16,100	17,239	5,800	21,900	10,500	45,795	65,000	65,000	71,600	93,700	22,800	75,300	41,500	11,700	98,800	18,200	22,390	7,750	0	3,497	0	0	6,600	36,650	47,900	24,640	17,120	17,120	25,000	0	14,650	14,650	12,260	36,900	11,150	10,000	48,800	19,100	15,000	83,919	129,200	117,900	137,000	193,000	145,700	72,000	79,000	182,403	116,600	102,800	96,800	67,861	34,000	17,000	15,000	67,987	15,003	35,407	33,262	33,262	19,664	48,477	15,354	19,323	0	0	60,783	60,783	5,050	0	0	20,700	0	0	9,600	-	3,400
Short Term Investments	1,019,201	1,010,377	1,027,538	1,040,920	934,923	1,069,434	864,178	1,025,032	973,314	732,312	607,474	552,931	543,974	577,278	599,333	620,154	600,799	599,906	577,266	563,628	560,479	548,815	559,968	563,582	558,329	583,200	579,581	551,256	530,083	535,580	528,539	522,610	507,582	509,600	506,919	514,466	511,883	467,688	459,744	444,797	425,044	406,089	393,576	398,755	380,188	414,635	422,196	416,866	13,710	429,828	402,736	375,027	331,730	318,032	306,890	295,450	278,168	266,079	236,385	239,679	243,413	240,916	241,150	235,664	184,917	1,748	3,236	595	190,272	189,579	191,567	197,495	193,676	202,428	207,143	199,003	198,024	197,969	196,287	93,199	84,798	79,156	83,115	84,952	83,911	82,738	89,143	0	190	0	0	0	1,477	0	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	-	0
Total Assets	3,742,808	3,738,880	3,762,461	3,693,984	3,608,590	3,532,289	3,396,635	3,418,854	3,371,014	3,442,739	3,272,048	3,326,037	3,220,742	3,199,618	3,110,044	2,670,469	2,593,819	2,635,960	2,577,032	2,539,087	2,522,502	2,463,040	2,425,443	2,373,524	2,340,298	2,077,993	2,077,980	1,999,725	2,032,873	1,973,240	1,843,288	1,764,167	1,796,537	1,717,134	1,734,111	1,733,417	1,637,320	1,489,024	1,498,039	1,458,321	1,410,249	1,383,299	1,378,424	1,386,362	1,437,903	1,423,302	1,399,692	1,348,171	1,335,405	1,351,242	1,345,899	1,312,949	1,286,571	1,300,055	1,328,306	1,315,250	1,335,549	1,307,049	1,295,816	1,307,872	1,326,292	1,316,907	1,308,303	1,281,762	1,233,735	1,208,077	1,215,953	1,215,844	1,215,074	1,173,229	1,148,504	1,102,230	1,052,686	1,036,625	1,010,686	1,002,691	997,483	947,648	932,729	823,205	801,674	761,905	734,987	691,050	701,114	682,408	677,930	650,410	650,410	592,071	588,660	598,615	606,726	606,814	606,602	480,544	415,500	399,100
Total Current Assets	98,949	1,098,919	1,131,021	1,124,426	1,030,408	1,156,117	323,274	1,278,566	268,774	2,655,053	2,607,488	2,714,916	2,612,278	2,563,192	2,450,731	1,989,421	1,926,021	1,975,059	1,938,106	1,913,060	1,889,757	1,850,146	1,801,017	1,747,521	1,707,412	1,455,669	1,459,104	1,408,487	1,454,751	1,398,038	1,284,222	1,211,570	1,252,910	1,177,486	1,196,991	1,189,325	1,088,336	994,810	1,011,957	986,827	950,064	951,173	958,372	960,717	1,020,013	980,905	949,862	904,970	902,669	896,415	917,586	421,176	929,107	359,400	354,384	337,137	1,031,768	299,370	268,220	263,890	1,058,055	274,103	293,838	278,764	1,010,259	38,166	44,366	40,908	988,531	238,006	247,256	244,658	835,411	250,790	249,158	238,402	774,127	234,729	247,018	138,382	693,041	127,658	129,945	131,751	594,081	138,177	130,558	630,560	630,560	38,342	40,693	42,082	586,675	48,617	46,770	29,424	404,100	21,000
Total Current Liabilities	2,171,556	2,083,914	245,200	216,800	219,000	103,100	2,127,057	2,972,703	2,888,509	2,913,199	2,846,449	5,000	142,900	158,000	163,000	74,100	20,000	42,200	8,500	2,220,208	56,100	16,100	2,130,500	5,800	21,900	10,500	1,827,400	1,754,800	65,000	71,600	93,700	22,800	75,300	41,500	11,700	98,800	18,200	22,390	7,750	1,243,300	3,497	1,174,300	1,172,400	6,600	36,650	47,900	24,640	1,142,000	17,120	25,000	1,134,600	1,105,500	14,650	12,260	36,900	11,150	10,000	48,800	19,100	15,000	83,919	129,200	117,900	137,000	193,000	145,700	72,000	79,000	182,403	119,376	104,565	98,953	67,861	36,214	18,453	16,995	67,987	16,656	36,435	765	33,262	20,236	48,838	15,354	19,323	615,000	612,900	589,300	589,300	5,050	872	1,230	20,700	1,029	1,040	10,286	-	4,000
Total Liab	3,404,711	85,496	85,579	49,236	3,305,008	3,237,217	3,097,588	3,093,163	3,008,520	3,078,232	2,914,319	2,978,056	2,876,846	2,863,371	2,782,611	2,351,010	2,284,534	2,332,607	2,280,180	2,255,019	2,249,478	2,199,832	2,165,205	2,118,204	2,084,356	1,858,910	1,861,857	1,789,308	1,826,995	1,764,712	1,644,973	1,569,820	1,606,197	1,530,082	1,548,005	1,544,933	1,450,229	1,302,784	1,311,117	1,274,152	1,228,575	1,205,243	1,203,253	1,210,820	1,264,011	1,248,829	1,227,155	1,177,926	1,166,841	1,182,917	1,180,487	1,151,426	1,126,974	1,161,586	1,188,555	1,178,325	1,201,069	1,174,784	1,185,418	1,198,583	1,219,492	1,208,032	1,206,412	1,180,401	1,134,271	1,109,452	1,122,534	1,123,244	1,124,703	1,084,353	1,065,043	1,019,876	973,923	959,184	934,107	929,499	926,348	878,513	869,511	760,197	741,698	703,303	678,092	636,152	647,827	629,969	627,867	604,269	604,269	546,761	545,698	556,606	565,944	567,730	568,591	443,109	380,700	364,200
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	-	0
Total Stockholder Equity	338,097	308,859	309,592	307,010	303,582	295,072	299,047	325,691	362,494	364,507	357,729	347,981	343,896	336,247	327,433	319,459	309,285	303,353	296,852	284,068	273,024	263,208	260,238	255,320	255,942	219,083	216,123	210,417	205,878	208,528	198,315	194,347	190,340	187,052	186,106	188,484	187,091	186,240	186,922	184,169	181,674	178,056	175,171	175,542	173,892	174,473	172,537	170,245	168,564	168,325	165,412	161,523	159,597	138,469	139,751	136,925	134,480	132,265	110,398	109,289	106,800	108,875	101,891	101,361	99,464	98,625	93,419	92,600	90,371	88,876	83,461	82,354	78,763	77,441	76,579	73,192	71,135	69,135	63,218	63,008	59,976	58,602	56,895	54,898	53,287	52,439	50,063	46,141	46,141	45,310	42,962	42,009	40,782	39,084	38,011	37,435	34,800	34,900
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	-	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	-	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	1999-12-31	1998-12-31
Begin Period Cash Flow	77,131	257,528	71,417	80,077	74,132	70,137	120,442	48,623	50,095	78,006	61,818	63,036	42,645	66,234	51,510	44,022	59,015	50,147	36,735	53,042	55,819	39,835	43,433	31,413	24,545	26,800
Capital Expenditures	1,540	1,272	371	2,916	783	3,123	2,141	3,586	2,530	2,379	667	3,411	2,734	2,481	3,437	3,900	2,863	4,126	3,542	4,658	3,175	5,337	1,773	2,600	3,691	3,600
Cash And Cash Equivalents Changes	0	-180,397	186,111	-8,660	5,945	3,995	-50,305	71,819	-1,472	-27,911	16,188	-1,218	20,391	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	-21,835	5,247	1,183	-6,525	-5,255	8,759	-3,008	1,365	5,820	6,733	15,442	14,245	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	1,471	-180,397	186,111	-8,660	5,945	3,995	-50,305	71,819	-1,472	-27,911	16,188	-1,218	20,391	-23,589	14,724	7,488	-14,993	8,868	13,412	-16,307	-2,777	15,984	-3,598	12,020	6,868	32,600
Change In Working Capital	11,601	-15,404	2,866	-11,498	-1,978	-13,300	12,862	-3,629	1,344	7,801	3,126	2,041	3,020	1,797	-17,358	-6,456	10,080	1,416	3,262	-8,082	372	1,119	2,473	-1,932	-399	1,500
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
Change To Account Receivables	-20,525	-26,213	6,435	-488	-9,224	-6,106	10,402	-3,442	1,219	5,884	2,225	610	2,354	2,365	0	0	0	0	0	0	0	0	0	0	0	0
Change To Inventory	0	0	0	0	0	0	0	0	6	108	234	1,327	0	2,167	7,017	0	11,952	0	961	73	0	0	0	0	0	0
Change To Liabilities	0	9,481	1,602	-8,151	9,662	-5,420	4,100	-621	758	3,453	1,514	1,646	666	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Netincome	0	8,027	-2,740	6,351	3,139	3,445	4,740	166	-129	-4,812	2,248	3,022	3,896	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	10,809	-3,569	-11,010	7,246	-7,194	2,460	-1,566	-393	1,978	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	3,232	3,536	4,269	4,099	4,062	4,194	3,538	2,856	2,272	2,107	2,131	2,437	2,695	2,890	3,103	3,121	3,446	4,119	4,465	4,353	3,251	2,402	2,472	1,968	1,580	1,800
Dividends Paid	-13,714	13,919	13,232	12,207	11,332	9,757	7,935	6,506	5,662	4,775	3,680	3,385	3,367	2,935	4,067	6,536	6,021	5,283	4,401	3,506	3,346	2,590	1,657	2,119	2,027	1,400
End Period Cash Flow	78,602	77,131	257,528	71,417	80,077	74,132	70,137	120,442	48,623	50,095	78,006	61,818	63,036	42,645	66,234	51,510	44,022	59,015	50,147	36,735	53,042	55,819	39,835	43,433	31,413	59,400
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
Free Cash Flow	51,705	32,300	52,285	37,111	45,954	27,323	39,204	13,945	27,253	26,165	33,871	35,286	31,913	32,134	27,413	27,027	32,312	24,745	25,085	7,601	11,905	10,586	11,216	13,275	2,336	7,400
Investments	-205,668	-546,153	-85,047	-736,438	-153,068	-290,287	-52,339	-23,290	-261,613	-227,177	-89,524	-249,198	-50,689	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
Net Borrowings	0	127,232	16,940	113,427	9,352	8,209	-67,444	-16,111	2,154	1,277	4,555	-1,618	5,507	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	34,844	33,659	43,012	35,444	35,961	29,677	19,539	17,567	18,067	15,240	13,369	8,185	7,780	7,363	8,928	13,413	21,022	19,190	16,194	13,346	10,364	8,839	6,878	5,481	5,612	5,200
Other Cashflows From Financing Activities	-84,941	286,138	174,187	593,334	26,374	171,494	-31,376	86,343	153,421	103,245	-35,274	95,789	40,454	19	11	88,348	23,622	179,901	69,835	184,707	92,921	43,152	35,040	62,117	52,477	34,000
Other Cashflows From Investing Activities	0	66,429	106,038	112,102	100,551	105,222	-702	1,970	93,085	84,814	110,795	120,290	2,080	9,798	1,603	2,577	66	0	0	1,012	0	0	0	0	0	0
Other Non Cash Items	4,162	13,256	1,429	13,905	8,299	9,810	6,060	6,768	6,436	4,366	13,284	26,111	21,573	25,099	27,182	20,373	1,550	3,982	4,684	2,514	2,744	4,068	2,817	11,445	-1,311	3,900
Sale Purchase Of Stock	-8,881	-5,192	-5,220	-2,562	-2,544	1,131	764	-2,259	-7,956	-10,183	1,396	63	867	-72,916	64,028	0	0	0	0	0	0	0	0	0	0	0
Stock Based Compensation	1,749	1,284	995	688	490	373	476	188	35	181	268	487	460	385	250	-144	-1,582	-72	-339	-459	-121	-298	-1,262	-119	12	-600
Total Cash From Financing Activities	-48,084	267,027	112,835	578,565	12,498	161,737	-39,311	77,578	139,803	88,287	-38,954	92,404	37,087	-54,318	-3,572	81,812	-4,399	140,154	36,434	181,201	89,575	40,562	33,383	59,998	50,450	32,600
Total Cash From Operating Activities	53,245	33,572	52,656	40,027	46,737	30,446	41,345	17,531	29,783	28,544	34,538	38,697	34,647	34,615	30,850	30,927	35,175	28,871	28,627	12,259	15,080	15,923	12,989	15,875	6,027	11,000
Total Cashflows From Investing Activities	0	-480,996	20,620	-627,252	-53,290	-188,188	-51,673	-21,340	-171,058	-144,742	20,604	-132,319	-51,343	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	1999-03-31
Begin Period Cash Flow	88,542	103,483	83,506	77,131	86,683	161,875	253,534	257,528	422,350	373,902	346,211	71,417	88,933	156,611	106,992	80,077	80,689	67,790	68,063	74,132	65,039	85,102	63,509	70,137	54,607	77,175	92,768	120,442	65,442	53,041	44,008	48,623	48,988	46,690	47,905	50,095	39,678	48,824	72,164	78,006	60,969	66,982	47,949	61,818	45,095	48,926	71,742	63,036	58,305	68,367	57,522	42,645	42,171	48,075	42,012	66,234	34,716	37,160	37,561	51,510	38,237	52,742	44,150	44,022	38,166	44,643	43,108	59,015	42,485	49,744	41,627	50,147	43,508	40,835	54,422	36,735	32,609	46,893	61,363	53,042	45,023	45,919	45,630	55,819	51,822	50,423	54,459	34,342	34,342	36,675	37,638	44,664	43,872	42,809	25,902	31,413	24,500
Capital Expenditures	329	390	309	413	373	333	301	265	26	62	215	68	993	129	78	1,716	151	302	243	87	269	570	1,872	412	552	669	117	803	430	2,115	878	1,023	394	464	1,250	422	220	720	173	1,266	392	49	132	94	207	723	1,865	616	1,904	96	254	988	492	804	647	538	915	1,342	779	401	937	864	1,255	844	305	406	1,271	881	430	673	1,263	1,760	1,542	1,100	537	363	1,295	734	1,151	1,478	1,700	474	786	215	1,140	3,035	599	496	496	157	969	151	1,301	173	1,510	582	2,200
Cash And Cash Equivalents Changes	0	0	19,977	6,375	-9,552	-75,192	-91,659	-3,994	-164,822	48,448	27,691	274,794	-17,516	-67,678	49,619	26,915	-612	12,899	-273	-6,069	9,093	-20,063	21,593	-6,628	15,530	-22,568	-15,593	-27,674	55,000	12,401	9,033	-4,615	-365	2,298	-1,215	-2,190	10,417	-9,146	-23,340	-5,842	17,037	-6,013	19,033	-13,869	16,723	-3,831	-22,816	8,706	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-3,449	4,320	-7,667	-1,226	-13,249	307	5,958	-1,250	-4,663	5,202	17,110	-14,663	-3,175	1,911	-1,202	-5,247	577	-653	-5,681	1,262	-3,670	2,834	4,758	9,017	-4,569	-447	-6,303	3,213	-2,568	2,650	-2,572	3,651	1,508	-1,222	3,737	-148	2,612	-381	579	128	3,403	2,623	4,878	4,370	3,698	2,496	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-9,940	-14,941	19,977	6,375	-9,552	-75,192	-91,659	-3,994	-164,822	48,448	27,691	274,794	-17,516	-67,678	49,619	26,915	-612	12,899	-273	-6,069	9,093	-20,063	21,593	-6,628	15,530	-22,568	-15,593	-27,674	55,000	12,401	9,033	-4,615	-365	2,298	-1,215	-2,190	10,417	-9,146	-23,340	-5,842	17,037	-6,013	19,033	-13,869	16,723	-3,831	-22,816	8,706	4,731	-10,062	10,845	14,877	474	-5,904	6,063	-24,222	31,518	-2,444	-401	-13,949	13,273	-14,505	8,592	128	5,856	-6,477	1,535	-15,907	16,530	-7,259	8,117	-8,520	6,639	2,673	-13,587	17,687	4,126	-14,284	-14,470	8,321	8,019	-896	289	-10,189	3,997	1,399	-4,036	5,493	5,493	-2,333	-963	-7,026	-439	1,063	16,907	-5,511	-3,900
Change In Working Capital	-4,370	11,044	3,852	-313	-14,476	6,030	-5,979	-979	-39,922	45,750	-5,713	2,751	1,574	-10,566	-1,152	-1,354	8,645	-6,086	-7,910	3,373	-7,587	1,898	-7,020	-591	10,058	7,635	-5,366	535	1,037	-1,567	-2,078	-1,021	2,933	-711	7,571	-8,449	5,329	-1,198	4,683	-1,013	3,514	-287	2,501	-2,602	328	1,803	1,438	-1,528	7,817	-6,773	2,118	-142	5,726	-19	-2,466	-1,444	-8,698	-9,133	895	-422	-6,651	-1,018	390	823	-4,597	-442	14,829	290	4,403	207	-2,044	-1,150	-1,413	1,301	2,284	1,090	1,567	-444	-6,286	-2,919	3,548	375	-1,008	-2,543	9,915	-6,800	-811	2,359	41,260	-1,339	2,692	-1,239	919	372	-2,476	-747	-1,900
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	0
Change To Account Receivables	-18,645	-1,579	-3,486	3,185	-8,196	-1,988	-14,610	-1,419	6,932	-1,099	-5,088	5,690	16,558	-14,805	-3,708	1,467	-1,862	-6,149	-1,010	-203	-6,357	1,271	-3,653	2,633	6,398	7,911	-4,133	226	-7,035	3,526	-2,656	2,723	-2,626	3,599	1,425	-1,179	3,961	-148	2,516	-445	-894	-522	2,584	1,057	0	0	0	992	992	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Inventory	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	6	6	0	0	108	108	108	108	234	35	0	0	1,327	875	947	641	0	3,499	2,639	2,024	2,167	905	434	1,828	7,017	4,812	0	0	0	0	0	0	11,952	11,967	15	17	0	0	0	683	961	961	838	846	73	167	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Liabilities	0	0	7,996	-3,617	-6,025	7,995	8,048	-537	-44,985	47,897	189	-1,499	-14,569	5,549	3,205	-2,336	11,074	653	-6,541	4,476	-523	1,068	-2,945	-3,020	4,112	-197	-797	982	8,374	-5,036	654	-4,613	5,488	-4,090	6,310	-6,950	1,697	-968	2,699	25	353	1,794	662	-1,295	467	1,351	1,041	-1,213	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Netincome	0	0	-57	235	6,049	1,508	-281	751	1,855	-1,221	-236	-1,425	-73	2,807	1,800	1,817	904	1,263	509	463	1,704	2,553	-245	-567	-499	-2,493	481	392	-8,125	1,260	-234	1,167	2,048	-1,761	-620	204	-4,306	-138	145	-513	1,856	1,044	-146	-506	-353	1,672	489	1,214	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	7,338	7,338	-6,280	8,018	8,631	440	-46,854	46,849	-625	-2,939	-14,984	4,239	2,556	-2,821	10,507	63	-6,900	3,576	-1,230	627	-3,367	-3,224	2,460	-276	-1,233	309	-1,566	0	0	0	-393	0	0	0	1,978	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	788	800	821	823	868	879	900	889	905	913	1,363	1,088	1,017	1,005	1,037	1,040	1,016	1,013	1,010	1,023	1,077	1,067	1,035	1,015	1,041	822	849	826	976	671	611	598	578	575	558	561	538	531	532	506	492	488	561	590	624	623	605	585	724	714	613	644	653	702	792	743	760	765	786	792	814	794	762	751	846	835	865	900	986	967	1,127	1,039	1,075	1,793	448	1,149	1,183	1,147	961	1,062	1,526	1,020	324	381	957	690	356	755	755	552	641	524	585	564	401	418	400
Dividends Paid	-3,353	3,407	3,459	3,495	3,470	3,471	3,470	3,508	3,390	3,374	3,237	3,231	3,071	3,039	3,038	3,059	2,905	2,914	2,759	2,754	2,437	2,442	2,441	2,437	2,131	1,937	1,936	1,931	1,655	1,666	1,593	1,592	1,457	1,475	1,361	1,369	1,247	1,260	1,130	1,138	994	992	847	847	847	846	846	846	845	843	840	839	838	700	699	698	1,163	968	968	968	1,642	1,635	1,629	1,630	1,555	1,544	1,456	1,466	1,376	1,368	1,271	1,268	1,171	1,079	1,081	1,070	964	855	847	840	1,114	747	745	740	650	648	647	368	368	368	368	553	553	553	553	460	0
End Period Cash Flow	78,602	88,542	103,483	83,506	77,131	86,683	161,875	253,534	257,528	422,350	373,902	346,211	71,417	88,933	156,611	106,992	80,077	80,689	67,790	68,063	74,132	65,039	85,102	63,509	70,137	54,607	77,175	92,768	120,442	65,442	53,041	44,008	48,623	48,988	46,690	47,905	50,095	39,678	48,824	72,164	78,006	60,969	66,982	47,949	61,818	45,095	48,926	71,742	63,036	58,305	68,367	57,522	42,645	42,171	48,075	42,012	66,234	34,716	37,160	37,561	51,510	38,237	52,742	44,150	44,022	38,166	44,643	43,108	59,015	42,485	49,744	41,627	50,147	43,508	40,835	54,422	36,735	32,609	46,893	61,363	53,042	45,023	45,919	45,630	55,819	51,822	50,423	39,835	39,835	34,342	36,675	37,638	43,433	43,872	42,809	25,902	20,600
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	0
Free Cash Flow	4,049	22,617	15,024	10,114	-206	18,719	4,658	9,129	-26,110	57,377	6,407	14,611	11,822	5,318	11,394	8,577	21,068	6,522	3,483	14,881	5,116	13,359	1,221	7,627	15,072	14,228	2,658	7,246	1,543	4,122	3,675	4,605	13,079	4,097	12,861	-2,784	6,927	3,860	11,862	3,516	8,950	8,867	10,277	5,777	9,562	11,143	8,385	6,196	9,078	4,792	9,291	8,752	11,001	9,456	4,222	7,455	7,681	9,549	4,362	5,821	6,841	6,465	6,111	7,610	2,140	5,262	19,601	5,309	10,159	6,964	3,414	4,208	5,638	5,120	7,721	6,606	6,138	4,632	-3,630	461	5,022	4,493	1,244	1,146	11,806	-2,948	4,738	6,744	6,744	2,938	3,693	-2,159	1,386	11,231	983	-1,118	-2,400
Investments	41,919	3,767	-38,408	-113,381	-92,618	-230,758	-110,145	-112,632	-124,128	-152,254	-54,289	131,542	-80,580	-176,595	-413,058	-66,205	5,466	-65,695	-55,406	-37,433	-74,694	-89,418	-55,154	-71,021	-21,353	-57,000	-114,490	-20,074	-24,956	-21,075	-91,775	1,719	-103,422	-8,873	-29,487	-119,831	-45,676	-22,618	-87,205	-71,678	-35,064	-41,930	-16,569	4,039	-113,150	-37,792	-87,252	-11,004	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	0
Net Borrowings	0	0	60,861	9,892	122,157	-6,002	10,254	823	-85,696	71,239	14,008	12,389	102,481	-4,792	12,088	3,650	554	990	4,807	3,001	-163	-717	4,710	4,379	-529	-2,617	1,865	1,337	1,324	-3,424	1,511	-722	-710	-1,157	3,287	734	81	1,076	567	-447	278	3,733	-710	1,254	-2,215	744	24,165	-24,312	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	6,289	9,885	9,919	8,751	7,113	9,935	9,204	7,407	9,621	10,605	11,708	11,078	8,979	10,355	8,303	7,807	9,285	8,952	8,829	8,895	7,904	7,071	7,992	6,710	4,043	5,742	5,203	4,551	5,517	3,928	4,086	4,036	5,363	4,409	4,557	3,738	3,654	3,550	4,237	3,799	3,870	3,367	3,798	2,334	2,098	1,635	2,573	1,879	1,541	2,526	2,184	1,529	1,592	887	2,545	2,339	3,533	106	2,594	2,695	-1,883	5,773	4,564	4,959	4,944	5,270	6,055	4,753	4,739	4,902	5,099	4,450	4,336	4,846	3,751	3,261	3,331	3,943	2,926	3,146	2,386	3,041	2,466	2,471	2,127	2,268	2,259	2,164	2,164	2,008	1,596	1,110	1,508	1,546	1,257	1,170	1,200
Other Cashflows From Financing Activities	-116,497	-28,422	57,832	85,516	73,949	137,569	-3,637	84,194	-124,583	116,011	-63,970	103,829	20,834	75,167	428,385	68,948	-48,909	84,185	31,703	-8,279	50,485	49,894	55,810	53,305	-63,968	-2,713	73,335	26,970	54,372	-10,912	74,290	-31,407	68,613	-13,917	-3,167	101,892	29,981	-7,218	34,304	46,178	23,281	996	-1,247	-16,654	14,766	20,335	48,340	39,468	-16,519	3,214	28,868	39,541	-10,605	-26,683	9,496	-17,351	62,592	15,285	-8,490	33,929	14,900	13,147	53,156	68,545	37,382	56,980	26,075	50,585	38,215	16,863	43,925	46,434	24,256	20,508	12,805	31,866	47,650	5,606	112,767	38,288	38,014	21,530	43,170	-9,793	20,244	7,068	8,636	54,489	-54,391	931	-10,837	-9,543	-2,739	398	43,480	20,978	-3,900
Other Cashflows From Investing Activities	0	0	-7,202	30,337	12,877	8,911	20,935	23,706	18,317	30,980	-1,367	28,043	33,480	31,470	25,936	21,216	25,828	24,501	22,706	27,516	30,623	24,644	27,957	21,998	87,910	24,854	24,840	25,115	26,232	43,655	24,436	22,060	22,822	25,171	23,958	21,134	23,331	21,093	21,618	18,772	20,864	27,046	34,019	28,866	106,392	3,329	8,557	2,012	2,080	4,681	3,434	2,463	9,798	4,520	2,911	808	1,603	775	0	0	2,577	2,006	1,527	1,264	66	66	66	0	0	399	399	399	0	1,346	412	69	1,012	1,012	496	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Non Cash Items	3,158	22	485	998	6,698	1,909	3,754	895	211	604	-910	1,524	3,310	4,516	3,294	2,785	2,096	2,969	1,710	1,524	3,244	3,787	997	1,782	1,259	1,149	1,827	1,825	1,792	1,506	39	1,548	1,786	1,925	1,530	1,195	-483	1,642	1,794	1,413	-566	4,910	3,488	5,452	7,297	7,514	5,490	5,810	1,382	8,471	4,072	7,648	-6,285	3,820	386	267	-2,091	4,687	-3,100	-518	15,498	1,780	1,650	2,017	1,252	5	-877	269	461	1,561	495	1,611	3,182	-1,720	1,775	1,469	1,352	720	-80	650	-738	531	248	1,052	-53	3,929	2,934	2,341	2,341	2,879	-281	-2,122	792	8,919	3,311	-1,377	1,600
Sale Purchase Of Stock	-143	-2,212	-3,810	-2,716	-84	-225	53	-4,883	-4,928	-292	0	-1	-1	1	34	-2,562	-1,170	-1,314	46	412	361	280	108	382	-35	82	34	-536	-536	-1,723	-51	284	63	-2,705	-4,019	-1,232	-2,899	-3,003	-2,789	-1,492	275	650	313	158	41	8	0	14	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	509	421	406	413	326	282	305	371	314	212	229	240	271	182	106	129	111	112	116	151	99	100	98	76	17	18	18	423	8	11	12	157	2	15	11	7	124	24	21	12	50	68	57	93	304	61	55	67	294	49	53	64	287	30	30	38	131	40	39	40	0	0	0	86	0	0	0	96	0	0	0	-171	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-425	0	-509	-300	-28	-119	0	0	0	0
Total Cash From Financing Activities	-136,237	-41,715	50,563	79,305	70,395	127,936	-7,107	75,803	-32,901	112,345	-67,207	100,598	17,762	72,129	425,347	63,327	-52,984	47,571	28,944	-11,033	48,048	31,352	47,569	34,768	-66,099	-4,650	71,399	-39,961	52,181	-14,301	72,697	-32,999	67,156	-18,097	-8,547	99,291	25,835	-11,481	30,385	43,548	22,287	4	-8,694	-52,551	13,919	19,489	47,494	11,502	-17,364	2,371	28,028	24,052	-13,833	-27,383	8,797	-21,899	22,533	8,992	-13,558	-21,539	13,258	212	27,427	40,915	21,527	-18,264	-4,381	-3,281	36,839	15,495	42,654	45,166	13,285	17,429	3,724	1,996	46,686	4,751	111,920	17,844	36,900	20,783	42,425	-10,533	19,594	-377	7,989	54,121	54,121	563	-11,205	-10,096	-3,292	-155	42,927	20,518	-3,900
Total Cash From Operating Activities	4,378	23,007	15,333	10,527	167	19,052	4,959	9,394	-26,084	57,439	6,622	14,679	12,815	5,447	11,472	10,293	21,219	6,824	3,726	14,968	5,385	13,929	3,093	8,039	15,624	14,897	2,775	8,049	1,113	6,237	4,553	5,628	13,473	4,561	14,111	-2,362	7,147	4,580	12,035	4,782	9,342	8,916	10,409	5,871	9,769	11,866	10,250	6,812	10,982	4,888	9,037	9,740	11,493	10,260	4,869	7,993	8,596	10,891	5,141	6,222	7,778	7,329	7,366	8,454	2,445	5,668	20,872	6,190	10,589	7,637	4,677	5,968	7,180	6,220	8,258	6,969	7,433	5,366	-2,479	1,939	6,722	4,967	2,030	1,361	12,946	87	4,738	7,240	7,240	3,095	4,662	-2,008	2,687	11,231	2,493	-536	-200
Total Cashflows From Investing Activities	0	0	-45,919	-83,457	-80,114	-222,180	-89,511	-89,191	-105,837	-121,336	88,276	159,517	-48,093	-145,254	-387,200	-46,705	31,153	-41,496	-32,943	-10,004	-44,340	-65,344	-29,069	-49,435	66,005	-32,815	-89,767	4,238	1,706	20,465	-68,217	22,756	-80,994	15,834	-6,779	-99,119	-22,565	-2,245	-65,760	-54,172	-14,592	-14,933	17,318	32,811	-6,965	-35,186	-80,560	-9,608	-51,343	-62,456	-45,135	0	0	0	0	0	0	0	9,384	1,368	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	8,722	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	-14,874	0	0	0	0	3,994	4,494	3,428	3,015	2,539	2,244	2,290	-1,370	24,329	33,751	40,785	34,687	28,982	16,482	11,969	9,979	12,446	17,192	21,437	0	0
Depreciation And Amortization	3,232	3,536	4,269	4,099	4,062	4,194	3,538	2,856	2,272	2,107	2,131	2,437	2,695	2,890	3,103	3,121	3,446	4,119	4,465	4,353	3,251	2,402	2,472	1,968	1,580	1,800
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
Ebit	0	57,119	57,199	46,523	47,718	48,828	38,402	29,690	29,719	24,227	19,683	12,162	14,001	14,778	21,713	38,610	63,218	54,298	37,609	29,016	21,621	21,015	26,392	26,900	20,108	20,500
Ebitda	3,232	60,655	61,468	50,622	51,780	53,022	41,940	32,546	31,991	26,334	21,814	14,599	16,696	17,668	24,816	41,731	66,664	58,417	42,074	33,369	24,872	23,417	28,864	28,868	21,688	22,300
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
Extraordinary Items	0	0	0	0	0	0	-2,710	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Profit	208,021	130,090	127,555	130,985	120,846	109,964	92,986	80,992	74,826	65,617	63,383	66,417	67,603	74,043	75,248	72,596	71,016	66,859	60,061	53,918	46,151	41,511	37,109	34,752	28,136	27,400
Income Before Tax	46,464	44,915	57,199	46,523	47,718	39,584	33,179	26,367	27,138	21,431	16,462	7,841	8,344	7,129	9,536	17,281	31,783	29,167	24,277	20,520	14,747	11,919	10,500	8,223	8,387	8,100
Income Tax Expense	11,620	11,256	14,187	11,079	11,757	9,907	13,640	8,800	9,071	6,191	3,093	-344	564	-234	608	3,868	10,761	9,977	8,083	7,174	4,383	3,080	3,622	2,742	2,775	2,900
Interest Expense	50,716	12,204	4,050	5,408	13,578	9,244	5,223	3,323	2,581	2,796	3,221	4,321	5,657	7,649	12,177	21,329	31,435	25,131	13,332	8,496	6,874	9,096	15,892	18,677	11,721	12,400
Interest Income	156,281	121,819	113,076	110,243	110,947	101,638	80,908	68,465	62,707	55,121	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
Net Income	34,844	33,659	43,012	35,444	35,961	29,677	19,539	17,567	18,067	15,240	13,369	8,185	7,780	7,363	8,928	13,413	21,022	19,190	16,194	13,346	10,364	8,839	6,878	5,481	5,612	5,200
Net Income Applicable To Common Shares	0	33,659	43,012	35,444	35,961	29,677	19,539	17,567	18,067	15,240	13,369	8,185	7,780	7,363	8,928	13,413	21,022	19,190	16,194	13,346	10,364	8,839	6,878	5,481	0	0
Net Income From Continuing Ops	35,668	33,659	43,012	35,444	35,961	29,677	19,539	17,567	18,067	15,240	13,369	8,185	7,780	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income	113,897	109,615	109,026	104,835	97,369	92,394	75,685	65,142	60,126	52,325	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Operating Income Net 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
Non Recurring	0	0	0	0	0	0	2,225	2,411	101	2,070	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Operating Income	176,498	57,119	57,199	46,523	47,718	48,828	38,402	29,690	29,719	24,227	19,683	12,162	14,001	14,778	21,713	38,610	63,218	54,298	37,609	29,016	21,621	21,015	26,392	26,900	20,108	20,500
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
Other Operating Expenses	146,683	-72,971	-70,356	-84,462	73,128	61,136	4,494	3,428	3,015	2,539	2,244	2,290	20,669	59,265	53,535	33,986	7,798	12,561	22,452	24,902	24,530	20,496	10,717	7,852	8,028	6,900
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
Reconciled Depreciation	3,312	3,536	4,269	4,099	4,062	4,194	3,538	0	0	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	0	0
Selling And Marketing Expenses	2,215	1,729	1,521	1,889	2,568	2,748	2,514	2,386	2,319	2,205	1,960	1,771	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	50,977	45,947	50,987	40,178	35,978	36,133	31,506	27,452	24,871	22,926	21,920	20,734	20,669	20,869	18,963	16,666	17,861	16,770	15,648	13,919	13,886	11,695	10,908	11,519	8,842	8,100
Tax Provision	11,557	11,256	14,187	11,079	11,757	9,907	13,640	8,800	9,071	6,191	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Operating Expenses	30,858	-72,971	-70,356	-84,462	-73,128	-61,136	-54,584	-51,302	-45,107	-41,390	-43,700	-54,255	22,039	-59,265	-53,535	-33,986	-7,798	-12,561	-22,452	-24,902	-24,530	-20,496	-10,717	-7,852	-8,028	-6,900
Total Other Income Expense Net	46,464	-12,204	57,199	46,523	47,718	-9,244	-5,223	-3,323	-2,581	-2,796	-3,221	-4,321	-5,657	-7,649	-12,177	-21,329	-31,435	-25,131	-13,332	-8,496	-6,874	-9,096	-15,892	-18,677	-11,721	-12,400
Total Revenue	193,147	130,090	127,555	130,985	120,846	113,958	97,480	84,420	77,841	68,156	65,627	68,707	67,603	74,043	75,248	72,596	71,016	66,859	60,061	53,918	46,151	41,511	37,109	34,752	28,136	27,400

	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	1999-06-30	1999-03-31
Cost Of Revenue	0	0	0	0	0	0	0	0	0	0	0	-148	2,450	2,525	2,420	0	8,637	0	2,329	1,940	3,994	4,910	2,384	1,916	4,494	1,396	1,516	1,019	3,430	886	739	718	3,015	647	650	633	2,537	687	932	887	2,243	1,590	1,265	6,423	1,906	5,763	4,225	3,970	3,767	4,392	4,452	5,046	5,069	8,266	5,547	5,447	5,904	13,175	7,171	7,501	18,183	5,909	7,887	8,806	8,512	8,828	8,678	8,669	8,365	5,755	5,522	5,739	4,724	5,174	5,252	5,563	3,310	4,598	4,834	5,104	2,768	2,429	2,448	4,743	3,035	4,186	3,716	3,007	3,283	3,723	4,713	5,473	6,047	5,879	5,121	4,390	-	0
Depreciation And Amortization	788	800	821	823	868	879	900	889	905	913	1,363	1,088	1,017	1,005	1,037	1,040	1,016	1,013	1,010	1,023	1,077	1,067	1,035	1,015	1,041	822	849	826	976	671	611	598	578	575	558	561	538	531	532	506	492	488	561	590	624	623	605	585	724	714	613	644	653	702	792	743	760	765	786	792	814	794	762	751	846	835	865	900	986	967	1,127	1,039	1,075	1,793	448	1,149	1,183	1,147	961	1,062	1,526	1,020	324	381	957	690	356	755	755	552	641	524	585	564	401	418	-	400
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	-	0
Ebit	0	12,520	12,611	19,923	15,255	16,285	14,113	11,465	13,119	14,889	16,569	15,767	12,844	14,495	12,052	12,539	15,140	15,332	15,587	15,237	13,885	11,702	12,718	10,522	11,742	10,297	9,028	7,334	9,386	6,664	6,793	6,848	8,750	7,500	7,572	5,898	5,942	6,013	6,492	5,780	5,507	4,820	5,945	3,412	2,673	2,377	4,091	3,020	2,698	4,740	3,867	2,696	3,000	1,986	5,157	4,635	6,801	1,368	6,218	7,327	-233	13,214	11,795	13,833	15,013	16,014	17,342	14,851	15,061	14,597	13,451	11,189	10,493	11,099	8,435	7,582	7,660	8,213	7,016	6,126	5,583	5,756	5,121	5,161	4,889	4,782	5,605	5,792	3,109	6,787	7,006	6,808	7,639	7,343	6,392	5,527	2,000	4,700
Ebitda	788	13,320	13,432	20,746	16,123	17,164	15,013	12,354	14,024	15,802	17,932	16,855	13,861	15,500	13,089	13,579	16,156	16,345	16,597	16,260	14,962	12,769	13,753	11,537	12,783	11,119	9,877	8,160	10,362	7,335	7,404	7,446	9,328	8,075	8,130	6,459	6,480	6,544	7,024	6,286	5,999	5,308	6,506	4,002	3,297	3,000	4,696	3,605	3,422	5,454	4,480	3,340	3,653	2,688	5,949	5,378	7,561	2,133	7,004	8,119	581	14,008	12,557	14,584	15,859	16,849	18,207	15,751	16,047	15,564	14,578	12,228	11,568	12,892	8,883	8,731	8,843	9,360	7,977	7,188	7,109	6,776	5,445	5,542	5,846	5,472	5,961	6,547	0	7,339	7,647	7,332	8,224	7,907	6,793	5,945	4,700	5,100
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	-	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	-	0
Gross Profit	64,988	33,627	33,647	32,561	34,100	64	34,421	28,463	31,212	31,740	31,454	35,385	32,421	32,654	28,622	29,893	22,031	30,244	27,725	27,939	25,343	29,499	28,229	26,893	23,419	24,345	23,204	22,016	19,716	21,898	19,769	19,609	17,291	19,138	19,672	18,725	15,652	17,077	16,968	15,922	14,809	16,320	16,297	9,534	16,031	17,025	16,828	16,533	18,535	16,916	16,970	16,552	16,649	21,075	18,157	18,161	19,290	19,879	18,838	17,241	17,007	19,418	18,061	18,110	17,590	17,428	19,031	16,966	17,088	11,001	11,444	10,543	14,582	11,054	9,512	8,924	13,999	9,336	8,200	7,848	12,625	12,004	11,115	5,664	10,675	6,199	6,674	9,913	35,809	9,411	9,938	9,160	9,416	9,601	8,404	7,330	6,900	6,500
Income Before Tax	8,254	13,320	13,432	11,459	9,014	13,268	12,492	10,140	12,693	13,976	15,666	14,864	11,914	13,526	10,810	10,275	12,186	11,806	11,998	11,727	10,900	9,242	10,635	8,806	10,150	8,900	7,813	6,315	8,406	5,777	6,054	6,130	8,099	6,853	6,921	5,265	5,300	5,327	5,760	5,043	4,764	4,030	5,130	2,538	1,700	1,314	3,027	1,800	1,331	3,348	2,415	1,250	1,331	100	3,109	2,588	4,495	-1,335	2,949	3,427	-4,780	8,205	6,558	7,297	7,451	7,886	9,364	7,082	7,397	7,414	7,707	6,649	6,569	7,600	5,357	4,751	5,150	5,939	4,914	4,517	3,995	4,127	3,398	3,227	2,754	2,556	3,276	3,109	3,109	3,164	2,493	1,735	2,282	2,154	1,961	1,826	2,000	1,900
Income Tax Expense	1,964	3,435	3,513	2,708	1,901	3,333	3,288	2,733	3,072	3,371	3,958	3,786	2,935	3,170	2,507	2,468	2,901	2,854	3,169	2,832	2,996	2,171	2,643	2,096	6,106	3,158	2,611	1,764	2,889	1,848	1,968	2,094	2,736	2,443	2,364	1,527	1,647	1,776	1,523	1,244	895	663	1,331	204	-398	-321	454	-79	-210	822	231	-279	-261	-787	565	249	962	-1,441	356	732	-2,897	2,433	1,994	2,338	2,507	2,616	3,309	2,329	2,658	2,512	2,608	2,199	2,233	2,754	1,606	1,490	1,819	1,996	1,988	1,371	1,609	1,086	932	756	627	264	1,015	945	945	1,155	897	625	774	713	704	656	800	700
Interest Expense	5,730	14,297	12,558	9,287	6,240	3,017	1,621	1,325	1,331	913	903	903	930	969	1,243	2,264	2,953	3,526	3,589	3,510	2,984	2,460	2,083	1,716	1,592	1,397	1,215	1,019	979	887	739	718	651	647	651	633	641	686	732	737	743	790	815	874	973	1,063	1,064	1,220	1,367	1,392	1,452	1,446	1,669	1,886	2,048	2,047	2,306	2,703	3,269	3,900	4,547	5,009	5,237	6,536	7,562	8,128	7,978	7,769	7,664	7,183	5,744	4,540	3,924	3,499	3,078	2,831	2,510	2,274	2,102	1,609	1,588	1,629	1,723	1,934	2,135	2,226	2,329	2,683	2,683	3,623	4,513	5,073	5,357	5,189	4,431	3,701	2,700	2,800
Interest Income	42,443	42,384	40,875	37,419	35,603	31,928	28,206	26,081	27,897	27,629	28,092	29,458	29,762	29,043	25,385	26,051	27,775	27,901	27,788	27,483	27,042	26,236	24,883	23,476	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-	0
Net Income	6,289	9,885	9,919	8,751	7,113	9,935	9,204	7,407	9,621	10,605	11,708	11,078	8,979	10,356	8,303	7,807	9,285	8,952	8,829	8,895	7,904	7,071	7,992	6,710	4,044	5,742	5,202	4,551	5,517	3,929	4,086	4,036	5,363	4,410	4,557	3,738	3,653	3,551	4,237	3,799	3,869	3,367	3,799	2,334	2,098	1,635	2,573	1,879	1,541	2,526	2,184	1,529	1,592	887	2,544	2,339	3,533	106	2,593	2,695	-1,883	5,772	4,564	4,959	4,944	5,270	6,055	4,753	4,739	4,902	5,099	4,450	4,336	4,846	3,751	3,261	3,331	3,943	2,926	3,146	2,386	3,041	2,466	2,471	2,127	2,292	2,261	2,164	2,164	2,009	1,596	1,110	1,508	1,441	1,257	1,170	1,200	1,200
Net Income Applicable To Common Shares	0	0	9,919	8,751	7,113	9,935	9,204	7,407	9,621	10,605	11,708	11,078	8,978	10,356	8,303	7,807	9,285	8,952	8,829	8,895	7,904	7,071	7,992	6,710	177	5,742	7,138	6,482	-4,845,370	1,670,104	1,597,481	1,595,352	3,887	5,885	4,557	3,738	3,653	3,550	4,237	3,799	3,870	3,367	3,799	2,334	2,098	1,635	2,573	1,879	1,541	2,526	2,184	1,529	1,592	887	2,545	2,339	3,533	106	2,594	2,695	7,640	5,773	4,564	4,959	4,944	5,270	6,055	4,753	4,739	4,902	5,099	4,450	4,336	4,846	3,751	3,261	3,331	3,943	2,926	3,146	2,386	3,041	2,466	2,471	2,127	2,292	2,235	2,185	2,164	2,008	1,596	1,110	1,613	1,441	1,257	1,170	-	0
Net Income From Continuing Ops	6,289	9,885	9,919	8,751	7,113	9,935	9,204	7,407	9,621	10,605	11,708	11,078	8,978	10,356	8,303	7,807	9,285	8,952	8,829	8,895	7,904	7,071	7,992	6,710	4,044	5,742	5,202	4,551	5,516	3,929	4,086	4,036	5,362	4,410	4,557	3,738	3,653	3,551	4,237	3,799	3,869	3,367	3,799	2,334	2,098	1,635	2,573	1,879	0	2,526	2,184	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	27,870	28,087	28,317	28,132	29,363	28,911	26,585	24,756	26,566	26,716	27,189	28,555	28,832	28,074	24,142	23,787	24,822	24,375	24,199	23,973	24,058	23,776	22,800	21,760	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-4,450	13,350	-8,900	2,225	-4,822	14,466	-9,644	2,411	101	0	0	0	2,070	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	57,171	13,320	13,432	19,923	15,255	16,285	14,113	11,465	14,024	14,889	16,569	15,767	12,844	14,495	12,052	12,539	-117,743	15,332	15,587	15,237	-111,615	11,702	12,718	10,522	-92,181	10,297	9,028	7,334	9,386	6,664	6,793	6,848	-76,459	7,500	7,572	5,898	-66,739	6,013	6,492	5,780	-65,291	4,820	5,945	-2,729	-66,240	3,896	4,280	3,020	-66,198	4,740	3,867	2,696	-72,905	7,053	3,989	3,861	-69,991	5,558	4,238	3,440	-69,142	4,345	3,924	4,248	-66,569	3,366	4,746	2,990	15,061	2,808	2,846	2,803	10,493	2,751	2,487	2,659	7,660	2,732	2,719	2,609	5,583	5,756	5,121	2,203	4,889	1,976	2,189	5,792	5,287	6,787	7,006	6,808	7,639	7,343	6,392	5,527	4,700	4,700
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	-	0
Other Operating Expenses	56,734	-20,307	-20,215	-12,638	18,845	16,221	20,308	16,998	17,188	16,851	14,885	148	2,450	2,525	2,420	17,354	40,472	14,912	2,329	1,940	30,988	17,797	15,511	16,371	27,110	14,048	14,176	14,682	3,430	15,234	12,976	12,761	21,939	11,638	12,100	12,827	19,309	11,064	10,476	10,142	18,960	11,500	10,352	6,844	17,760	13,129	12,548	13,513	15,760	12,176	13,103	13,856	15,512	14,022	14,168	14,300	14,033	14,321	14,600	13,801	13,553	15,073	14,137	13,862	13,144	14,062	14,285	13,976	2,027	18,323	17,018	15,216	4,089	14,225	12,868	12,000	6,339	10,744	9,698	9,343	7,042	6,248	5,994	7,935	5,786	8,659	8,341	4,121	0	2,624	2,932	2,352	1,777	2,258	2,012	1,803	2,200	1,800
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	-1,936	-1,931	0	-1,666,175	-1,593,395	-1,591,316	0	-1,475	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	788	800	821	823	868	879	900	889	905	913	1,363	1,088	1,017	1,005	1,037	1,040	1,016	1,013	1,010	1,023	1,077	1,067	1,035	1,015	1,041	822	849	826	976	671	611	598	578	575	558	561	538	531	532	506	492	488	561	590	624	623	605	585	724	714	613	644	653	702	792	743	760	765	786	792	814	794	762	751	846	835	865	900	986	967	1,127	1,039	1,075	1,793	448	1,149	1,183	1,147	961	1,062	1,526	1,020	324	381	957	690	356	755	755	552	641	524	585	564	401	418	-	400
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	-	0
Selling And Marketing Expenses	-1,646	723	410	513	407	466	449	406	539	370	292	539	539	324	425	0	1,252	0	560	692	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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
Selling General Administrative	39,425	13,355	12,979	13,091	12,069	13,461	13,986	13,875	12,290	12,789	12,788	11,151	11,042	9,698	9,266	10,172	8,957	8,784	8,994	9,243	9,139	8,814	8,997	9,183	8,889	7,478	7,253	7,885	7,097	6,866	6,624	6,865	5,947	5,904	6,125	6,895	6,154	5,459	5,328	5,985	5,203	5,394	5,403	5,920	4,879	5,278	4,911	5,665	4,909	4,849	5,201	5,710	5,358	4,582	5,151	5,779	4,930	3,543	5,430	5,060	3,114	4,646	4,409	4,498	4,718	4,045	4,435	4,664	4,576	4,083	3,920	4,191	4,199	3,630	3,753	4,066	3,881	2,990	3,340	3,708	3,632	3,407	3,286	3,561	3,213	3,062	2,702	2,404	2,404	2,522	3,817	3,477	3,109	3,042	2,809	2,558	2,200	2,400
Tax Provision	1,964	3,435	3,513	2,708	1,901	3,333	3,288	2,733	3,072	3,371	3,958	3,786	2,935	3,170	2,506	2,468	2,902	2,854	3,169	2,832	2,997	2,171	2,643	2,096	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	7,817	-20,307	-20,215	-12,638	-18,845	16,221	-20,308	-16,998	-17,188	-16,851	-14,885	-19,766	-19,577	-18,159	-16,570	-17,354	31,835	-14,912	-12,138	-12,702	26,994	-17,797	-15,511	-16,371	22,616	-14,048	-14,176	-14,682	-10,330	-15,234	-12,976	-12,761	18,924	-11,638	-12,100	-12,827	16,772	-11,064	-10,476	-10,142	16,717	-11,500	-10,352	421	15,854	-13,129	-12,548	-13,513	15,760	-12,176	-13,103	-13,856	15,512	-14,022	-14,168	-14,300	14,033	-14,321	-14,600	-13,801	13,553	-15,073	-14,137	-13,862	13,144	-14,062	-14,285	-13,976	-2,027	12,568	11,496	9,477	-4,089	9,051	7,616	6,437	-6,339	6,146	4,864	4,239	-7,042	-6,248	-5,994	3,192	-5,786	4,473	4,625	-4,121	0	-2,624	-2,932	-2,352	-1,777	-2,258	-2,012	-1,803	-2,200	-1,800
Total Other Income Expense Net	8,254	13,320	13,432	-8,464	-6,241	-3,017	-1,621	-1,325	-1,331	-913	-903	-903	-930	-969	-1,242	-2,264	129,930	-3,526	-3,589	-3,510	122,516	-2,460	-2,083	-1,716	102,332	-1,397	-1,215	-1,019	-980	-887	-739	-718	84,558	-647	-651	-633	72,040	-686	-732	-737	70,055	-790	-815	5,267	67,228	-2,582	-1,253	-1,220	66,314	-1,392	-1,452	-1,446	74,237	-6,953	-880	-1,273	74,486	-6,893	-1,289	-13	64,363	3,860	2,634	3,049	74,020	4,520	4,618	4,092	-7,664	4,606	4,861	3,846	-3,924	4,849	2,870	2,092	-2,510	3,207	2,195	1,908	-1,588	-1,629	-1,723	1,024	-2,135	580	1,087	-2,683	0	-3,623	-4,513	-5,073	-5,357	-5,189	-4,431	-3,701	-2,700	-2,800
Total Revenue	64,988	33,627	33,647	32,561	34,100	64	34,421	28,463	31,212	31,740	31,454	35,385	34,871	35,179	31,042	29,893	30,668	30,244	30,054	29,879	29,337	29,499	28,229	26,893	27,913	24,345	23,204	22,016	23,146	21,898	19,769	19,609	20,306	19,138	19,672	18,725	18,189	17,077	16,968	15,922	17,052	16,320	16,297	15,957	17,937	17,025	16,828	16,533	18,535	16,916	16,970	16,552	16,649	21,075	18,157	18,161	19,290	19,879	18,838	17,241	17,007	19,418	18,061	18,110	17,590	17,428	19,031	16,966	17,088	16,756	16,966	16,282	14,582	16,228	14,764	14,487	13,999	13,934	13,034	12,952	12,625	12,004	11,115	10,407	10,675	10,385	10,390	9,913	9,913	9,411	9,938	9,160	9,416	9,601	8,404	7,330	6,900	6,500

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

Gross Profit (+$)
totalRevenue	193,147
Cost of Revenue	--14,874
Gross Profit	208,021	208,021

Operating Income (+$)
Gross Profit	208,021
Operating Expense	-30,858
Operating Income	176,498	177,163

Operating Expense (+$)
Research Development	0
Selling General Administrative	50,977
Selling And Marketing Expenses	2,215
Operating Expense	30,858	53,192

Net Interest Income (+$)
Interest Income	156,281
Interest Expense	-50,716
Other Finance Cost	-8,332
Net Interest Income	113,897

Pretax Income (+$)
Operating Income	176,498
Net Interest Income	113,897
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	46,464	130,034 EBIT - interestExpense = -50,716 46,464 85,560
Interest Expense	50,716
Earnings Before Interest and Taxes (EBIT)	0	97,180
Earnings Before Interest and Taxes (EBITDA)	3,232

After tax Income (+$)
Income Before Tax	46,464
Tax Provision	-11,557
Net Income From Continuing Ops	35,668	34,907
Net Income	34,844
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	146,683
Total Other Income/Expenses Net	46,464	-113,897

Technical Analysis of Sierra 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 Sierra Bancorp. The general trend of Sierra Bancorp is NEUTRAL 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 Sierra 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 zone transitions	Bullish trend (0.0%)		Bearish trend (0.0%)
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 Sierra Bancorp.

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

Around support: The price is currently trading around a support level. This can be considered as a potential entry level. +1

The bullish price targets are: 17.81 < 20.20 < 20.28.

The bearish price targets are: 17.69 > 16.57 > 15.75.

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Sierra 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 Sierra Bancorp. The current mas is .

The long score for the Moving Averages is 7/14.
The longshort score for the Moving Averages is 0/(-14 +14).

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

Directionalities and relatives.

Moving Average	Amount of candles	vs. MA 50	vs. MA 100	vs. MA 200
MA 20	20
MA 50	50	-
MA 100	100	-	-
MA 200	200	-	-	-

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

Shows the moving average of the selected period.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

There are various kinds of moving averages:

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

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

Simple moving average

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

Source: Tradingview.com

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

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

Exponential moving average

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

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

Where:

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

Smoothed moving average

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

Linear weighted moving average

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

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

Where:

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

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

Source: Tradingview.com

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

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

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

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

Sierra 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 Sierra Bancorp. The current macd is -0.22353998.

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

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

Sierra 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 Sierra Bancorp. The current adx is 18.89.

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

PLUS_ID > MINUS_DI: The +DI line is above the -DI line. This indicates a bullish signal in the market, as the positive directional movement is currently stronger than the negative directional movement, showing that buyers have the upper hand. Market psychology suggests that traders are optimistic, expecting further price increases, and are more willing to buy Sierra Bancorp shares, leading to potential upward momentum in its price. +1
PLUS_ID > MINUS_DI && ADX < 25 && ADX trending up: The ADX is below 25 and indicates a weak or no trend. However, the ADX is rising and a new bullish trend could be forming. +1

Sierra 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 Sierra Bancorp. The current sar is 19.70.

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

Close < SAR: The price is below the SAR. It's generally considered a bearish signal. -1

Sierra 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 Sierra Bancorp. The current rsi is 51.69. The current phase is Correction in bear market.

The long score for the Relative Strength Index (RSI) is 4/13.
The longshort score for the Relative Strength Index (RSI) is 4/(-13 +13).

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

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

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

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

Original usage

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

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

How you can use RSI (Divergence)

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

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

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

Source: Tradingview.com

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

Use tradingview to add indicators

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

Tradingview

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

View tool on Tradingview.com

RSI divergence

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

There are four types of divergences:

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

Regular bullish divergence

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

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

Source: Tradingview.com

Regular bearish divergence

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

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

Source: Tradingview.com

Hidden bullish divergence

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

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

Source: Tradingview.com

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

Hidden bearish divergence

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

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

Source: Tradingview.com

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

Sierra 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 Sierra Bancorp. The current phase is Continuation in bear market.

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

STOCH < 50: The STOCH %K is below 50. There are more sellers than buyers. -1
STOCH %K line > STOCH %D line: The STOCH %K line is above the STOCH %D line, which indicates a bullish signal in the market. This means that the positive momentum is currently stronger than the average momentum, suggesting that buyers are more active than sellers, and there's a higher probability of the Sierra Bancorp price going up in the near term. +2
Trending up: The STOCH %K is trending up. +1

Sierra 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 Sierra Bancorp. The current cci is -36.47662577.

Sierra 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 Sierra Bancorp. The current cmo is 10.67.

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

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

Sierra 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 Sierra Bancorp. The current willr is -58.

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

WILLR between -80 and -20: The Williams %R is between -80 and -20. This indicates that Sierra Bancorp is trading in a neutral price range, neither oversold nor overbought, suggesting a balanced market condition without any extreme price signals.

4. Volatility Indicators

4.1 Bollinger Bands

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

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

Score

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

Sierra 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 Sierra Bancorp. The current atr is 0.68526318.

Sierra 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 Sierra Bancorp. The current obv is 849,807.

Sierra 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 Sierra Bancorp. The current mfi is 53.64.

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

MFI > 50: +1

Sierra Bancorp Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for Sierra 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
2023-11-28	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
2023-11-29	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2023-11-30	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
2023-12-01	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).
2023-12-06	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.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-11	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-12	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
2023-12-13	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	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.
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2023-12-15	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2023-12-18	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.
2023-12-21	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-26	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-29	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-02	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-03	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-01-04	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	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	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
2024-01-10	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-11	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-18	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-22	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.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-01-24	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-25	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-26	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-29	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-01-30	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-31	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-01	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2024-02-02	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-06	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-07	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-09	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	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-20	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-22	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-28	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-02-29	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-01	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-03-05	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-07	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-11	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-03-12	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-13	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
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
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-03-15	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-18	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
2024-03-19	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
2024-03-20	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-21	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2024-03-22	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2024-03-25	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-03-26	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-03-27	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-28	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-04-01	STOCH	LONG EXIT		The %K line crosses below the %D line.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-04-04	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-08	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-10	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-04-11	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-04-12	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-04-15	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	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).

6.3. Candlestick Patterns

Date	Candlestick Pattern

6.4. Technical Score

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

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	51.686
Ma 20	Greater than	Ma 50	18.718
Ma 50	Greater than	Ma 100	18.657
Ma 100	Greater than	Ma 200	19.751
Open	Greater than	Close	17.710
Total			3/5 (60.0%)

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Quick analysis of Sierra Bancorp (30 sec.)

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

How much money do you get?

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1. Valuation of Sierra Bancorp (5 min.)

$18.75

$22.86

$-5.28 - $20.42

$17.58 - $43.28

2. Growth of Sierra Bancorp (5 min.)

Is Sierra Bancorp growing?

How much money is Sierra Bancorp making?

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

3. Financial Health of Sierra 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 Sierra Bancorp? (5 min.)

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

Speculation

Investing

How much money are you going to get?

When do you get the money?

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Linear %

Fundamentals of Sierra Bancorp

About Sierra Bancorp

Financial Health

Valuation

1.1. Profitability of Sierra 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 Sierra Bancorp.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

1.2.2. Operating Ratio

Trends

1.3. Liquidity of Sierra 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 Sierra 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 Sierra Bancorp

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Banks - Regional)

Sierra Bancorp
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