Cambridge Bancorp
Buy, Hold or Sell?

Let's analyse Cambridge Bancorp together

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

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

How much money do you get?

$9.09

When do you have the money?

1 year

How often do you get paid?

100.0%

What is your share worth?

Current worth

$68.07

Expected worth in 1 year

$70.17

How sure are you?

97.5%

+ What do you gain per year?

Total Gains per Share

$11.19

Return On Investment

17.8%

For what price can you sell your share?

Current Price per Share

$62.76

Expected price per share

$57.41 - $70.10

How sure are you?

50%

1. Valuation of Cambridge Bancorp (5 min.)

Live pricePrice per Share (EOD)

$62.76

Book Value per Share

$68.07

Intrinsic Value Per Share

$-5.64 - $69.47

Total Value Per Share

$62.42 - $137.54

My calculation of the intrinsic value of Cambridge 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: ($1.09) 3Y: ($1.70) TTM: ($1.47)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($0.02) 3Y: ($-0.07) TTM: ($-0.65)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$3.56	$6.83	$3.27 - $7.05
2	$5.91	$13.70	$2.17 - $7.31
3	$7.19	$20.61	$1.06 - $7.57
4	$7.49	$27.56	$-0.04 - $7.83
5	$6.94	$34.52	$-1.14 - $8.09
6	$5.62	$41.51	$-2.25 - $8.34
7	$3.62	$48.50	$-3.35 - $8.60
8	$1.03	$55.50	$-4.46 - $8.86
9	$-2.08	$62.49	$-5.56 - $9.12
10	$-5.64	$69.47	$-6.67 - $9.38

2. Growth of Cambridge Bancorp (5 min.)

Is Cambridge Bancorp growing?

	Current year	Previous year	Grow	Grow %
How rich?	$534.5m	$460.5m	$67.8m	12.8%

How much money is Cambridge Bancorp making?

	Current year	Previous year	Grow	Grow %
Making money	$8.5m	$13.1m	-$4.6m	-54.8%
Net Profit Margin	16.9%	28.5%	-	-

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

Quarterly Yearly

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

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

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

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

Speculation

The Price per Share of Cambridge Bancorp is $62.76. 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 Cambridge 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 Cambridge 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 $68.07. Based on the TTM, the Book Value Change Per Share is $0.53 per quarter. Based on the YOY, the Book Value Change Per Share is $2.54 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 $2.27 per quarter.

Based on historical numbers we can estimate the returns while holding a share of Cambridge 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	1.02	1.6%	1.09	1.7%	1.68	2.7%	1.30	2.1%	0.92	1.5%
Usd Book Value Change Per Share	1.16	1.9%	0.53	0.8%	2.54	4.0%	2.34	3.7%	1.35	2.2%
Usd Dividend Per Share	0.67	1.1%	2.27	3.6%	0.59	0.9%	0.82	1.3%	0.58	0.9%
Usd Total Gains Per Share	1.83	2.9%	2.80	4.5%	3.13	5.0%	3.16	5.0%	1.93	3.1%
Usd Price Per Share	69.40	-	62.70	-	82.63	-	74.19	-	67.16	-
Price to Earnings Ratio	16.96	-	15.23	-	12.39	-	10.46	-	21.42	-
Price-to-Total Gains Ratio	37.89	-	39.66	-	95.52	-	52.21	-	87.08	-
Price to Book Ratio	1.02	-	0.93	-	1.41	-	1.60	-	2.52	-
Price-to-Total Gains Ratio	37.89	-	39.66	-	95.52	-	52.21	-	87.08	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	62.76
Number of shares	15

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	2.27	0.82
Usd Book Value Change Per Share	0.53	2.34
Usd Total Gains Per Share	2.80	3.16
Gains per Quarter (15 shares)	41.97	47.40
Gains per Year (15 shares)	167.89	189.61

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	136	32	158	49	140	180
2	273	63	326	99	281	370
3	409	95	494	148	421	560
4	545	126	662	197	561	750
5	682	158	830	246	702	940
6	818	190	998	296	842	1130
7	954	221	1166	345	982	1320
8	1090	253	1334	394	1123	1510
9	1227	284	1502	443	1263	1700
10	1363	316	1670	493	1403	1890

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%	19.0	1.0	0.0	95.0%	39.0	1.0	0.0	97.5%	52.0	1.0	0.0	98.1%
Book Value Change Per Share	3.0	1.0	0.0	75.0%	10.0	2.0	0.0	83.3%	18.0	2.0	0.0	90.0%	35.0	5.0	0.0	87.5%	44.0	8.0	1.0	83.0%
Dividend per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	20.0	0.0	0.0	100.0%	40.0	0.0	0.0	100.0%	50.0	0.0	3.0	94.3%
Total Gains 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%	50.0	2.0	1.0	94.3%

Fundamentals of Cambridge Bancorp

About Cambridge Bancorp

https://www.cambridgetrust.com
Banks - Regional
407
1336 Massachusetts Avenue, Cambridge, MA, United States, 02138
Google Maps Bing Maps

Cambridge Bancorp operates as the bank holding company for Cambridge Trust Company that engages in the provision of commercial and consumer banking, and investment management and trust services. The company accepts various deposits, such as checking, savings, money market, trust, and individual retirement accounts, as well as time and demand deposits, and certificates of deposit. Its loan products include residential and commercial real estate loans; construction loan; residential mortgages and home equity loans; commercial and industrial loans; consumer loans, such as secured and unsecured loans, lines of credit, and personal installment loans; and construction loans. The company also offers cash management, debit and credit cards, online and mobile banking, and payments services. It serves commercial enterprises, non-profit organizations, and individuals. The company operates through a network of banking and wealth management offices located in Massachusetts and New Hampshire. Cambridge Bancorp was founded in 1890 and is headquartered in Cambridge, Massachusetts.

Fundamental data was last updated by Penke on 2024-04-11 03:37:04.

Financial Health

Profitability Details

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

Operating Efficiency Details

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

Liquidity Details

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

Solvency Details

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

Valuation

Valuation Details

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

1.1. Profitability of Cambridge Bancorp.

1.1. Profitability

1.1.1. Net Profit Margin

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

Above 10% is considered healthy but always compare Cambridge Bancorp to the Banks - Regional industry mean.
A Net Profit Margin of 14.1% means that $0.14 for each $1 in revenue is generated as profit.

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

The MRQ is 14.1%. The company is making a huge profit. +2
The TTM is 16.9%. The company is making a huge profit. +2

Trends

Current period		Compared to		+/-
MRQ	14.1%	TTM	16.9%	-2.8%
TTM	16.9%	YOY	28.5%	-11.6%
TTM	16.9%	5Y	23.6%	-6.7%
5Y	23.6%	10Y	22.1%	+1.5%

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	14.1%	18.4%	-4.3%
TTM	16.9%	28.0%	-11.1%
YOY	28.5%	25.2%	+3.3%
5Y	23.6%	22.8%	+0.8%
10Y	22.1%	19.8%	+2.3%

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

Revenue is the amount of profit Cambridge 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 Cambridge 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 Cambridge 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, Cambridge Bancorp makes more profit. This shows the investor how efficiently Cambridge Bancorp is operating in general and compared to other companies in the same industry. Cambridge 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 Cambridge 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 Cambridge Bancorp is 0.14. This means that Cambridge Bancorp earned $0.14 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 Cambridge Bancorp is performing over time. The most recent quarter might be important if Cambridge 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 Cambridge 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 Cambridge Bancorp with other companies in the same industry (Banks - Regional).
Net profit margin should rise over the years.
Can be influenced when Cambridge Bancorp sells assets (profit will increase while costs remain the same).
It won’t show what part of Cambridge 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 Cambridge 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 Cambridge Bancorp = 8,034
Total revenue MRQ Cambridge Bancorp = 56,950
$8,034 / $56,950 = 0.14 or 14.1%

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 Cambridge Bancorp is using its assets to generate profit.

Above 5% is considered healthy but always compare Cambridge Bancorp to the Banks - Regional industry mean.
0.1% Return on Assets means that Cambridge Bancorp generated $0.00 profit for each $1 in assets.

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

The MRQ is 0.1%. 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	0.1%	TTM	0.2%	0.0%
TTM	0.2%	YOY	0.3%	-0.1%
TTM	0.2%	5Y	0.2%	-0.1%
5Y	0.2%	10Y	0.2%	0.0%

Compared to industry (Banks - Regional)

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

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

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

Income statement
Balance sheet

Net income MRQ (income statement) from Cambridge Bancorp = 8,034
Total assets MRQ (balance sheet) from Cambridge Bancorp = 5,432,289
8,034 / 5,432,289 = 0.00 or 0.1%

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

Above 15%-20% is considered healthy but always compare Cambridge Bancorp to the Banks - Regional industry mean.
1.5% Return on Equity means Cambridge Bancorp generated $0.02 for each $1 the owners (shareholders) invested.

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

The MRQ is 1.5%. Using its investors money, the company is inefficient in making profit. -1
The TTM is 1.6%. Using its investors money, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	1.5%	TTM	1.6%	-0.1%
TTM	1.6%	YOY	2.9%	-1.3%
TTM	1.6%	5Y	2.5%	-0.9%
5Y	2.5%	10Y	2.9%	-0.3%

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	1.5%	1.4%	+0.1%
TTM	1.6%	2.5%	-0.9%
YOY	2.9%	2.7%	+0.2%
5Y	2.5%	2.5%	+0.0%
10Y	2.9%	2.8%	+0.1%

Shows how efficient Cambridge 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 Cambridge 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 Cambridge Bancorp is 1.5%. This means Cambridge 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 Cambridge Bancorp is performing over time. The most recent quarter might be important if Cambridge 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 Cambridge Bancorp up to 10 years back (depending if Cambridge 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 Cambridge Bancorp

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Cambridge Bancorp = 8,034
Shareholders equity (balance sheet) MRQ Cambridge Bancorp = 534,573
8,034 / 534,573 = 0.02 or 1.5%

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 Cambridge Bancorp.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Cambridge Bancorp is operating .

Measures how much profit Cambridge 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 Cambridge Bancorp to the Banks - Regional industry mean.
An Operating Margin of 19.0% means the company generated $0.19 for each $1 in revenue (before taxes).

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

The MRQ is 19.0%. The company is operating efficient. +1
The TTM is 46.4%. The company is operating very efficient. +2

Trends

Current period		Compared to		+/-
MRQ	19.0%	TTM	46.4%	-27.3%
TTM	46.4%	YOY	48.0%	-1.7%
TTM	46.4%	5Y	43.2%	+3.2%
5Y	43.2%	10Y	38.7%	+4.5%

Measures how efficient Cambridge 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 Cambridge 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 Cambridge 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 Cambridge Bancorp is 19.0%. This means that Cambridge Bancorp earned $0.19 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 Cambridge Bancorp is performing over time. The most recent quarter might be important if Cambridge 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 Cambridge 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 Cambridge Bancorp

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Cambridge Bancorp = 11,117
Total revenue MRQ Cambridge Bancorp = 56,950
$11,117 / $56,950 = 0.19 or 19.0%

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 Cambridge Bancorp is keeping operating costs low.

Below 1 is considered healthy (always compare to Banks - Regional industry mean).
An Operation Ratio of 0.01 means that the operating costs are $0.01 for each $1 in net sales.

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

The MRQ is 0.012. The company is very efficient in keeping operating costs low. +2
The TTM is -0.052.

Trends

Current period		Compared to		+/-
MRQ	0.012	TTM	-0.052	+0.064
TTM	-0.052	YOY	0.022	-0.073
TTM	-0.052	5Y	0.027	-0.078
5Y	0.027	10Y	-0.186	+0.213

Measures how efficient Cambridge 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 Cambridge 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 Cambridge Bancorp is 1.2%. This means that Cambridge Bancorp earned $0.01 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 Cambridge Bancorp is performing over time. The most recent quarter might be important if Cambridge 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 Cambridge 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 Cambridge 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 +698) \ 56,950 = 0.01

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 Cambridge Bancorp.

1.3. Liquidity

1.3.1. Current Ratio

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

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

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

The MRQ is 0.018. The company is unable to pay all its short-term debts. -2
The TTM is 35.937. The company is very able to pay all its short-term debts. +2

Trends

Current period		Compared to		+/-
MRQ	0.018	TTM	35.937	-35.919
TTM	35.937	YOY	11.591	+24.345
TTM	35.937	5Y	17.114	+18.823
5Y	17.114	10Y	11.539	+5.575

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
TTM	35.937	0.124	+35.813
YOY	11.591	0.225	+11.366
5Y	17.114	0.219	+16.895
10Y	11.539	0.131	+11.408

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

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
48,769 \ 2,678,118) = 0.02

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

Above 1 is considered healthy but always compare Cambridge Bancorp to the Banks - Regional industry mean.
A Quick Ratio of 0.07 means the company can pay off $0.07 for each $1 in debt (using most liquid assets).

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

The MRQ is 0.069. The company is just not able to pay all its short-term debts with the most liquid assets. -1
The TTM is 40.238. The company is very able to pay all its short-term debts with the most liquid assets. +2

Trends

Current period		Compared to		+/-
MRQ	0.069	TTM	40.238	-40.168
TTM	40.238	YOY	20.637	+19.601
TTM	40.238	5Y	19.970	+20.268
5Y	19.970	10Y	14.053	+5.917

Measures if Cambridge 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 Cambridge 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 Cambridge Bancorp can pay off its short term debts. This shows if Cambridge 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 Cambridge Bancorp is 0.07. This means that Cambridge Bancorp can pay off $0.07 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 Cambridge Bancorp is performing over time. The most recent quarter might be important if Cambridge 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 Cambridge 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 Cambridge 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 Cambridge Bancorp: (31,768 + 137,838 +15,765) / 2,678,118 = 0.07

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 Cambridge Bancorp.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

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

Below 1 (100%) is considered healthy but always compare Cambridge Bancorp to Banks - Regional industry mean.
A Debt to Asset Ratio of 0.90 means that Cambridge Bancorp assets are financed with 90.2% credit (debt) and the remaining percentage (100% - 90.2%) is financed by its owners/shareholders.

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

The MRQ is 0.902. The company is just able to pay all its debts by selling its assets.
The TTM is 0.903. The company is just able to pay all its debts by selling its assets.

Trends

Current period		Compared to		+/-
MRQ	0.902	TTM	0.903	-0.002
TTM	0.903	YOY	0.911	-0.008
TTM	0.903	5Y	0.906	-0.003
5Y	0.906	10Y	0.915	-0.009

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	0.902	0.915	-0.013
TTM	0.903	0.917	-0.014
YOY	0.911	0.919	-0.008
5Y	0.906	0.919	-0.013
10Y	0.915	0.927	-0.012

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

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

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Cambridge 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 Cambridge Bancorp is 0.90. This means means that Cambridge Bancorp is financed with 90.2% 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 Cambridge Bancorp is performing over time. The most recent quarter might be important if Cambridge 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 Cambridge 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 Cambridge Bancorp has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Cambridge Bancorp

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

Balance sheet
Debt to asset ratio = total debt \ total assets
4,897,716 \ 5,432,289 = 90.2% or 0.90.

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

Below 2 is considered healthy but always compare Cambridge Bancorp to the Banks - Regional industry mean.
A Debt to Equity ratio of 916.2% means that company has $9.16 debt for each $1 in shareholders equity.

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

The MRQ is 9.162. The company is unable to pay all its debts with equity. -1
The TTM is 9.364. The company is unable to pay all its debts with equity. -1

Trends

Current period		Compared to		+/-
MRQ	9.162	TTM	9.364	-0.202
TTM	9.364	YOY	10.304	-0.940
TTM	9.364	5Y	9.735	-0.371
5Y	9.735	10Y	10.972	-1.237

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	9.162	10.829	-1.667
TTM	9.364	11.013	-1.649
YOY	10.304	11.363	-1.059
5Y	9.735	11.437	-1.702
10Y	10.972	13.038	-2.066

Measures if Cambridge 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 Cambridge 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 Cambridge Bancorp is 9.16. This means that Cambridge Bancorp can pay off $9.16 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 Cambridge Bancorp is performing over time. The most recent quarter might be important if Cambridge 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 Cambridge 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 Cambridge Bancorp

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
4,897,716 \ 534,573 = 9.16 or 916.2%

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 Cambridge 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 Cambridge Bancorp generates.

Above 15 is considered overpriced but always compare Cambridge Bancorp to the Banks - Regional industry mean.
A PE ratio of 16.96 means the investor is paying $16.96 for every $1 in earnings.

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

The EOD is 15.338. Based on the earnings, the company is fair priced.
The MRQ is 16.961. Based on the earnings, the company is fair priced.
The TTM is 15.225. Based on the earnings, the company is fair priced.

Trends

Current period		Compared to		+/-
EOD	15.338	MRQ	16.961	-1.623
MRQ	16.961	TTM	15.225	+1.736
TTM	15.225	YOY	12.388	+2.837
TTM	15.225	5Y	10.460	+4.765
5Y	10.460	10Y	21.419	-10.959

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
EOD	15.338	7.604	+7.734
MRQ	16.961	6.680	+10.281
TTM	15.225	5.295	+9.930
YOY	12.388	6.943	+5.445
5Y	10.460	9.770	+0.690
10Y	21.419	9.943	+11.476

Measures how much money you pay for each share for every $1 in earnings Cambridge 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 Cambridge 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 Cambridge Bancorp is 16.96. This means the investor is paying $16.96 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 Cambridge Bancorp is performing over time. The most recent quarter might be important if Cambridge 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 Cambridge 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 Cambridge 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 \ 7,854 = EPS
PE ratio MRQ = 16.96

* 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 Cambridge Bancorp:

The EOD is 15.555. Based on how much money comes from the company's main activities, the company is underpriced. +1
The MRQ is 17.201. Based on how much money comes from the company's main activities, the company is underpriced. +1
The TTM is 17.745. Based on how much money comes from the company's main activities, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	15.555	MRQ	17.201	-1.646
MRQ	17.201	TTM	17.745	-0.545
TTM	17.745	YOY	-20.601	+38.347
TTM	17.745	5Y	12.285	+5.460
5Y	12.285	10Y	44.855	-32.570

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
EOD	15.555	-2.126	+17.681
MRQ	17.201	-1.868	+19.069
TTM	17.745	-0.342	+18.087
YOY	-20.601	6.448	-27.049
5Y	12.285	0.429	+11.856
10Y	44.855	0.091	+44.764

2. Book Value per Share

2.3. Price to Book Ratio

Measures if the stock price of Cambridge 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 1.02 means the investor is paying $1.02 for each $1 in book value.

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

The EOD is 0.922. Based on the equity, the company is cheap. +2
The MRQ is 1.020. Based on the equity, the company is underpriced. +1
The TTM is 0.932. Based on the equity, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	0.922	MRQ	1.020	-0.098
MRQ	1.020	TTM	0.932	+0.088
TTM	0.932	YOY	1.415	-0.483
TTM	0.932	5Y	1.597	-0.665
5Y	1.597	10Y	2.519	-0.922

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
EOD	0.922	0.439	+0.483
MRQ	1.020	0.386	+0.634
TTM	0.932	0.470	+0.462
YOY	1.415	0.642	+0.773
5Y	1.597	0.795	+0.802
10Y	2.519	1.025	+1.494

2. Total Gains per Share

3. Holders & Insider Transactions

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

3.1. Institutions holding Cambridge Bancorp

Institutions are holding 58.456% of the shares of Cambridge Bancorp.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	BlackRock Inc	8.0803	0.0011	633933	54817	9.4656
2023-12-31	Vanguard Group Inc	5.2342	0.0006	410645	9252	2.305
2023-12-31	Wellington Management Company LLP	3.3084	0.0034	259556	-1769	-0.6769
2023-12-31	Cambridge Trust Co	3.2586	0.7392	255650	-17187	-6.2994
2023-12-31	Dimensional Fund Advisors, Inc.	2.8801	0.0046	225953	37995	20.2146
2023-12-31	Endeavour Capital Advisors Inc	2.816	5.1398	220930	12427	5.9601
2023-12-31	State Street Corporation	2.2361	0.0006	175435	8731	5.2374
2023-12-31	Geode Capital Management, LLC	2.1305	0.0012	167145	6278	3.9026
2023-12-31	Polaris Capital Management, LLC	1.6769	0.441	131557	0	0
2023-12-31	ProShare Advisors LLC	1.5652	0.026	122799	-27539	-18.3181
2023-12-31	Morgan Stanley - Brokerage Accounts	1.4244	0.0007	111750	8787	8.5341
2023-09-30	FJ Capital Management LLC	1.1407	0.6309	89491	-109396	-55.0041
2023-12-31	AllianceBernstein L.P.	1.1356	0.0024	89090	16585	22.8743
2023-12-31	Hotchkis & Wiley Capital Management LLC	1.1321	0.0219	88820	-6000	-6.3278
2023-12-31	Gardner Lewis Asset Management L P	1.0756	1.9822	84383	84383	0
2023-12-31	Banc Funds Co LLC	1.057	0.5673	82928	0	0
2023-12-31	Millennium Management LLC	0.9952	0.0023	78076	78076	0
2023-12-31	American Century Companies Inc	0.9794	0.0037	76836	13392	21.1084
2023-12-31	Northern Trust Corp	0.9326	0.0009	73166	2226	3.1379
2023-12-31	ARP AMERICAS LLC	0.9206	1.0205	72226	5148	7.6746
Total		43.9795	10.5903	3450369	+176206	+5.1%

3.2. Funds holding Cambridge Bancorp

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2024-02-29	Vanguard Total Stock Mkt Idx Inv	2.832	0.0009	222214	0	0
2024-03-28	iShares Russell 2000 ETF	2.4644	0.0201	193369	93	0.0481
2024-02-29	Vanguard Institutional Extnd Mkt Idx Tr	1.5646	0.0076	122764	-465	-0.3773
2024-03-28	ProShares Russell 2000 Dividend Growers	1.5098	1.0264	118469	0	0
2024-03-29	Avantis US Small Cap Value ETF	1.0659	0.0526	83636	0	0
2023-12-31	Polaris Capital Mgt Polaris Glbl Eq	1.0344	0.2121	81166	-2400	-2.872
2024-01-31	Fidelity Small Cap Index	0.9862	0.0214	77379	1211	1.5899
2024-03-28	iShares Russell 2000 Value ETF	0.9256	0.0395	72631	-46	-0.0633
2024-02-29	State St Russell Sm/Mid Cp® Indx NL Cl C	0.6671	0.0079	52346	2000	3.9725
2023-12-31	Wellington Emerging Companies	0.5597	1.2304	43918	0	0
2024-02-29	Fidelity Extended Market Index	0.531	0.0069	41662	-202	-0.4825
2024-02-29	AB Merger Arbitrage S1 USD	0.5189	0.8007	40712	6457	18.8498
2024-02-29	DFA US Small Cap Value I	0.487	0.0157	38213	4787	14.3212
2024-02-29	Hotchkis & Wiley Sm Cp Divers Val I	0.4512	0.2724	35400	0	0
2024-02-29	DFA US Targeted Value I	0.393	0.0151	30835	0	0
2023-07-20	Manulife US Bank Equity Mother Fund	0.3619	0.7416	28400	-11700	-29.1771
2024-03-31	State St Russell Sm Cap® Indx SL Cl I	0.36	0.0198	28248	0	0
2024-02-29	Principal SmallCap Value II Instl	0.352	0.1225	27620	-127	-0.4577
2024-02-29	Vanguard Russell 2000 ETF	0.3509	0.0183	27533	2136	8.4104
2024-02-29	DFA US Micro Cap I	0.3439	0.0238	26988	0	0
Total		17.7595	4.6557	1393503	+1744	+0.1%

3.3. Insider Transactions

Insiders are holding 4.786% of the shares of Cambridge Bancorp.

Date	Owner	Type	Amount	Price
2024-03-13	Robert Gregg Stone Iii	SELL	3669	65.73
2023-06-13	Simon R Gerlin	BUY	100	59.03
2023-05-03	Robert Gregg Stone Iii	BUY	1000	47.5
2023-05-02	Denis K Sheahan	BUY	500	46.9
2023-05-01	Hambleton Douglas Lord	BUY	1000	51.94

4. Summary

4.1. Key Performance Indicators

The key performance indicators of Cambridge Bancorp compared to the Most Recent Quarter (MRQ).

	End of day	+/-	Most Recent Quarter	Trailing 12 Months	+/-	Year-Over-Year	+/-	5 Year	+/-	10 Year	+/-
Book Value Change Per Share	-	-	1.162	0.526	+121%	2.540	-54%	2.339	-50%	1.353	-14%
Book Value Per Share	-	-	68.065	67.272	+1%	58.690	+16%	51.367	+33%	34.285	+99%
Current Ratio	-	-	0.018	35.937	-100%	11.591	-100%	17.114	-100%	11.539	-100%
Debt To Asset Ratio	-	-	0.902	0.903	0%	0.911	-1%	0.906	-1%	0.915	-2%
Debt To Equity Ratio	-	-	9.162	9.364	-2%	10.304	-11%	9.735	-6%	10.972	-16%
Dividend Per Share	-	-	0.669	2.272	-71%	0.587	+14%	0.821	-19%	0.580	+15%
Eps	-	-	1.023	1.086	-6%	1.683	-39%	1.300	-21%	0.924	+11%
Free Cash Flow Per Share	-	-	1.009	1.473	-32%	1.599	-37%	1.410	-28%	1.094	-8%
Free Cash Flow To Equity Per Share	-	-	-3.047	-3.849	+26%	7.264	-142%	8.230	-137%	7.021	-143%
Gross Profit Margin	-	-	0.981	0.943	+4%	0.954	+3%	0.963	+2%	0.927	+6%
Intrinsic Value_10Y_max	-	-	69.474	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	-5.644	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	6.826	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	3.560	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	20.612	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	7.186	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	34.524	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	6.937	-	-	-	-	-	-	-	-
Market Cap	492446967.600	-11%	545055316.200	492487648.178	+11%	648317888.750	-16%	582258410.666	-6%	526997257.560	+3%
Net Profit Margin	-	-	0.141	0.169	-17%	0.285	-51%	0.236	-40%	0.221	-36%
Operating Margin	-	-	0.190	0.464	-59%	0.480	-60%	0.432	-56%	0.387	-51%
Operating Ratio	-	-	0.012	-0.052	+521%	0.022	-43%	0.027	-54%	-0.186	+1618%
Pb Ratio	0.922	-11%	1.020	0.932	+9%	1.415	-28%	1.597	-36%	2.519	-60%
Pe Ratio	15.338	-11%	16.961	15.225	+11%	12.388	+37%	10.460	+62%	21.419	-21%
Price Per Share	62.760	-11%	69.400	62.703	+11%	82.625	-16%	74.194	-6%	67.157	+3%
Price To Free Cash Flow Ratio	15.555	-11%	17.201	17.745	-3%	-20.601	+220%	12.285	+40%	44.855	-62%
Price To Total Gains Ratio	34.267	-11%	37.893	39.655	-4%	95.523	-60%	52.207	-27%	87.081	-56%
Quick Ratio	-	-	0.069	40.238	-100%	20.637	-100%	19.970	-100%	14.053	-100%
Return On Assets	-	-	0.001	0.002	-5%	0.003	-42%	0.002	-37%	0.002	-38%
Return On Equity	-	-	0.015	0.016	-7%	0.029	-48%	0.025	-40%	0.029	-47%
Total Gains Per Share	-	-	1.831	2.798	-35%	3.127	-41%	3.160	-42%	1.933	-5%
Usd Book Value	-	-	534573000.000	528389250.000	+1%	460514500.000	+16%	403154750.000	+33%	269074400.000	+99%
Usd Book Value Change Per Share	-	-	1.162	0.526	+121%	2.540	-54%	2.339	-50%	1.353	-14%
Usd Book Value Per Share	-	-	68.065	67.272	+1%	58.690	+16%	51.367	+33%	34.285	+99%
Usd Dividend Per Share	-	-	0.669	2.272	-71%	0.587	+14%	0.821	-19%	0.580	+15%
Usd Eps	-	-	1.023	1.086	-6%	1.683	-39%	1.300	-21%	0.924	+11%
Usd Free Cash Flow	-	-	7921999.000	11573749.750	-32%	12543500.000	-37%	11070999.950	-28%	8586374.975	-8%
Usd Free Cash Flow Per Share	-	-	1.009	1.473	-32%	1.599	-37%	1.410	-28%	1.094	-8%
Usd Free Cash Flow To Equity Per Share	-	-	-3.047	-3.849	+26%	7.264	-142%	8.230	-137%	7.021	-143%
Usd Market Cap	492446967.600	-11%	545055316.200	492487648.178	+11%	648317888.750	-16%	582258410.666	-6%	526997257.560	+3%
Usd Price Per Share	62.760	-11%	69.400	62.703	+11%	82.625	-16%	74.194	-6%	67.157	+3%
Usd Profit	-	-	8034000.000	8527250.000	-6%	13198250.000	-39%	9907000.000	-19%	7109275.000	+13%
Usd Revenue	-	-	56950000.000	51045000.000	+12%	46556000.000	+22%	41878150.000	+36%	31363775.000	+82%
Usd Total Gains Per Share	-	-	1.831	2.798	-35%	3.127	-41%	3.160	-42%	1.933	-5%
	EOD	+4 -4	MRQ	TTM	+15 -21	YOY	+12 -24	5Y	+10 -26	10Y	+18 -18

4.2. Fundamental Score

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

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	15.338
Price to Book Ratio (EOD)	Between	0-1	0.922
Net Profit Margin (MRQ)	Greater than	0	0.141
Operating Margin (MRQ)	Greater than	0	0.190
Quick Ratio (MRQ)	Greater than	1	0.069
Current Ratio (MRQ)	Greater than	1	0.018
Debt to Asset Ratio (MRQ)	Less than	1	0.902
Debt to Equity Ratio (MRQ)	Less than	1	9.162
Return on Equity (MRQ)	Greater than	0.15	0.015
Return on Assets (MRQ)	Greater than	0.05	0.001
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 Cambridge Bancorp based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	47.824
Ma 20	Greater than	Ma 50	63.589
Ma 50	Greater than	Ma 100	64.305
Ma 100	Greater than	Ma 200	65.453
Open	Greater than	Close	62.850
Total			2/5 (40.0%)

Create your own Symbol Scanner

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

Reversals in quarterly reports

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

		2022-12-31		2023-03-31		2023-06-30		2023-09-30		2023-12-31
Long-term Assets Other		-9,419	-1,173,622	-1,183,041	31,264	-1,151,777	34,933	-1,116,844	6,284,974	5,168,130
Net Working Capital		170,840	1,071,014	1,241,854	-67,482	1,174,372	-41,116	1,133,256	-3,762,605	-2,629,349

Latest Balance Sheet

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

Summary

Total Assets	5,432,289
Total Liabilities	4,897,716
Total Stockholder Equity	534,573

	As reported
Total Liabilities	4,897,716
Total Stockholder Equity	+ 534,573
Total Assets	= 5,432,289

Assets

Total Assets	5,432,289
Total Current Assets	48,769
Long-term Assets	5,383,520

Total Current Assets

Total Current Assets (as reported)	48,769
Cash And Cash Equivalents	33,004
Short-term Investments	137,838
Net Receivables	15,765
Inventory	-47,533
Total Current Assets (calculated)	139,074
+/-	90,305

Long-term Assets

Long-term Assets (as reported)	5,383,520
Property Plant Equipment	44,986
Goodwill	64,539
Long Term Investments	1,097,170
Intangible Assets	13,627
Long-term Assets Other	5,168,130
Long-term Assets (calculated)	6,388,452
+/-	1,004,932

Liabilities & Shareholders' Equity

Total Current Liabilities	2,678,118
Long-term Liabilities	2,219,598
Total Stockholder Equity	534,573

Total Current Liabilities

Total Current Liabilities (as reported)	2,678,118
Short-term Debt	6,959
Other Current Liabilities	2,671,159
Total Current Liabilities (calculated)	2,678,118
+/-	0

Long-term Liabilities

Long-term Liabilities (as reported)	2,219,598
Long term Debt	452,155
Capital Lease Obligations	25,165
Long-term Liabilities (calculated)	477,320
+/-	1,742,278

Total Stockholder Equity

Total Stockholder Equity (as reported)	534,573
Common Stock	7,845
Retained Earnings	250,492
Accumulated Other Comprehensive Income	-17,714
Other Stockholders Equity	293,950
Total Stockholder Equity (calculated)	534,573
+/-	0

Other

Capital Stock	7,845
Cash and Short Term Investments	31,768
Common Stock Shares Outstanding	7,854
Liabilities and Stockholders Equity	5,432,289
Net Debt	444,316
Net Invested Capital	986,728
Net Working Capital	-2,629,349
Property Plant and Equipment Gross	73,824
Short Long Term Debt Total	477,320

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

2009-06-30

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

> Total Assets

656,925
670,952
678,733
693,187
705,134
720,682
741,387
723,195
720,760
725,803
737,637
743,124
746,414
748,346
770,920
773,013
793,510
799,170
828,166
849,588
865,095
893,546
896,628
917,212
934,160
979,354
0
0
0
1,130,988
0
1,156,726
1,202,191
1,275,860
1,345,473
1,353,344
1,365,679
1,417,986
1,365,658
1,425,825
1,449,827
1,533,710
1,482,814
1,527,063
1,558,923
1,573,692
1,610,097
1,665,223
1,687,143
1,706,201
1,771,191
1,773,753
1,801,055
1,848,999
1,843,649
1,895,219
1,864,231
1,949,934
1,961,750
1,971,214
1,988,944
2,101,384
2,138,548
2,741,308
2,841,868
2,855,563
2,852,629
4,022,750
3,987,109
3,949,297
4,253,173
4,303,287
4,483,567
4,891,544
5,018,379
5,057,935
5,143,359
5,559,737
5,528,584
5,489,622
5,452,030
5,432,289

5,432,289

5,452,030

5,489,622

5,528,584

5,559,737

5,143,359

5,057,935

5,018,379

4,891,544

4,483,567

4,303,287

4,253,173

3,949,297

3,987,109

4,022,750

2,852,629

2,855,563

2,841,868

2,741,308

2,138,548

2,101,384

1,988,944

1,971,214

1,961,750

1,949,934

1,864,231

1,895,219

1,843,649

1,848,999

1,801,055

1,773,753

1,771,191

1,706,201

1,687,143

1,665,223

1,610,097

1,573,692

1,558,923

1,527,063

1,482,814

1,533,710

1,449,827

1,425,825

1,365,658

1,417,986

1,365,679

1,353,344

1,345,473

1,275,860

1,202,191

1,156,726

1,130,988

979,354

934,160

917,212

896,628

893,546

865,095

849,588

828,166

799,170

793,510

773,013

770,920

748,346

746,414

743,124

737,637

725,803

720,760

723,195

741,387

720,682

705,134

693,187

678,733

670,952

656,925

> Total Current Assets

299,417
310,304
312,845
51,906
337,793
356,943
349,775
28,398
348,036
363,515
353,195
0
0
0
0
21,913
0
0
0
23,668
0
0
0
17,863
0
0
0
0
0
0
0
0
0
0
0
0
0
566,118
486,439
486,073
451,033
1,074,989
409,027
404,567
388,308
1,145,144
378,953
0
0
1,263,691
0
0
0
1,429,181
1,388,511
39,986
231,016
313,736
259,259
231,409
202,330
1,640,696
187,780
2,252,317
2,340,183
2,338,323
167,808
203,600
226,000
322,329
457,956
320,038
313,365
387,118
279,671
209,036
201,101
198,253
1,267,936
1,199,748
1,157,452
48,769

48,769

1,157,452

1,199,748

1,267,936

198,253

201,101

209,036

279,671

387,118

313,365

320,038

457,956

322,329

226,000

203,600

167,808

2,338,323

2,340,183

2,252,317

187,780

1,640,696

202,330

231,409

259,259

313,736

231,016

39,986

1,388,511

1,429,181

1,263,691

378,953

1,145,144

388,308

404,567

409,027

1,074,989

451,033

486,073

486,439

566,118

17,863

23,668

21,913

353,195

363,515

348,036

28,398

349,775

356,943

337,793

51,906

312,845

310,304

299,417

Cash And Cash Equivalents

31,153
30,989
19,288
33,348
38,936
53,531
44,573
24,196
37,295
50,827
20,292
0
0
0
0
16,841
0
0
0
18,715
0
0
0
13,472
0
0
0
0
0
15,756
0
0
0
22,512
0
0
0
59,923
16,531
22,854
25,969
88,107
25,056
21,583
23,218
17,440
23,564
0
0
24,645
466,291
466,291
466,291
54,050
27,698
20,989
13,668
103,591
56,265
35,119
16,431
18,473
37,006
38,557
68,949
61,335
42,989
60,742
64,520
75,785
226,633
98,789
93,477
180,153
81,748
25,023
31,542
30,719
70,766
33,398
25,353
33,004

33,004

25,353

33,398

70,766

30,719

31,542

25,023

81,748

180,153

93,477

98,789

226,633

75,785

64,520

60,742

42,989

61,335

68,949

38,557

37,006

18,473

16,431

35,119

56,265

103,591

13,668

20,989

27,698

54,050

466,291

24,645

23,564

17,440

23,218

21,583

25,056

88,107

25,969

22,854

16,531

59,923

22,512

15,756

13,472

18,715

16,841

20,292

50,827

37,295

24,196

44,573

53,531

38,936

33,348

19,288

30,989

31,153

Short-term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
502,318
466,194
459,212
421,502
388,793
380,361
379,277
361,232
339,791
351,359
0
0
347,173
0
0
0
325,641
279,131
0
212,449
205,017
197,935
191,011
180,363
168,163
144,762
153,053
148,068
140,330
117,947
134,227
152,105
237,030
222,452
212,266
210,993
197,803
188,205
173,952
158,301
153,416
152,183
144,306
136,253
137,838

137,838

136,253

144,306

152,183

153,416

158,301

173,952

188,205

197,803

210,993

212,266

222,452

237,030

152,105

134,227

117,947

140,330

148,068

153,053

144,762

168,163

180,363

191,011

197,935

205,017

212,449

279,131

325,641

347,173

351,359

339,791

361,232

379,277

380,361

388,793

421,502

459,212

466,194

502,318

Net Receivables

4,141
4,609
4,148
18,558
3,570
4,297
3,518
4,202
4,151
4,223
4,442
0
0
0
0
5,072
0
0
0
4,953
0
0
0
4,391
0
0
0
0
0
0
0
0
0
0
0
0
0
3,877
3,714
4,007
3,562
3,626
3,610
3,707
3,858
3,925
4,030
0
0
4,222
4,627
4,627
4,627
4,627
4,299
0
4,899
5,128
5,059
5,279
5,536
5,762
6,012
7,485
6,959
7,052
6,872
8,631
9,375
9,514
8,871
8,983
8,895
9,162
9,718
10,061
11,258
14,118
14,129
14,573
15,255
15,765

15,765

15,255

14,573

14,129

14,118

11,258

10,061

9,718

9,162

8,895

8,983

8,871

9,514

9,375

8,631

6,872

7,052

6,959

7,485

6,012

5,762

5,536

5,279

5,059

5,128

4,899

4,299

4,627

4,222

4,030

3,925

3,858

3,707

3,610

3,626

3,562

4,007

3,714

3,877

4,391

4,953

5,072

4,442

4,223

4,151

4,202

3,518

4,297

3,570

18,558

4,148

4,609

4,141

Other Current Assets

264,123
274,706
289,409
0
295,287
299,115
301,684
0
306,590
308,465
328,461
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
594,463
0
0
0
783,988
0
0
0
887,651
0
0
0
1,044,863
1,077,383
17,118
18,859
18,428
20,959
20,545
21,136
1,448,298
18,512
2,053,222
2,116,207
2,129,606
2,238,609
3,327,908
3,258,407
2,977,934
3,064,407
3,172,370
3,189,363
-236,678
1,115,824
35,084
42,800
44,837
84,895
47,971
40,608
48,769

48,769

40,608

47,971

84,895

44,837

42,800

35,084

1,115,824

-236,678

3,189,363

3,172,370

3,064,407

2,977,934

3,258,407

3,327,908

2,238,609

2,129,606

2,116,207

2,053,222

18,512

1,448,298

21,136

20,545

20,959

18,428

18,859

17,118

1,077,383

1,044,863

887,651

783,988

594,463

328,461

308,465

306,590

301,684

299,115

295,287

289,409

274,706

264,123

> Long-term Assets

357,508
360,648
365,888
359,296
367,341
363,739
391,612
366,483
372,724
362,288
384,442
0
0
0
0
387,583
0
0
0
382,592
0
0
0
383,669
0
0
0
0
0
0
0
0
0
0
0
0
0
579,665
538,794
532,467
488,192
458,721
464,759
467,489
450,322
428,548
440,449
0
0
442,510
0
0
0
419,818
455,138
0
441,821
446,515
471,660
479,821
460,204
460,688
452,311
488,991
501,685
517,240
446,212
491,242
502,702
649,034
730,810
810,879
980,839
1,282,314
1,405,360
1,379,075
1,330,034
1,334,361
133,152
133,141
132,199
5,383,520

5,383,520

132,199

133,141

133,152

1,334,361

1,330,034

1,379,075

1,405,360

1,282,314

980,839

810,879

730,810

649,034

502,702

491,242

446,212

517,240

501,685

488,991

452,311

460,688

460,204

479,821

471,660

446,515

441,821

455,138

419,818

442,510

440,449

428,548

450,322

467,489

464,759

458,721

488,192

532,467

538,794

579,665

383,669

382,592

387,583

384,442

362,288

372,724

366,483

391,612

363,739

367,341

359,296

365,888

360,648

357,508

Property Plant Equipment

6,859
6,937
6,677
6,866
6,114
5,851
5,625
5,757
5,569
5,402
5,368
0
0
0
0
5,633
0
0
0
5,195
0
0
0
5,979
0
0
0
0
0
6,043
0
0
0
6,216
0
5,812
5,941
6,214
6,484
8,342
9,045
9,951
9,482
8,953
8,583
8,367
8,671
8,601
10,651
11,371
11,590
11,380
10,908
10,451
10,249
9,952
9,502
9,310
9,316
9,116
8,836
8,578
8,719
14,863
49,507
48,343
46,905
57,394
55,602
53,085
51,201
51,122
48,905
48,599
46,893
44,917
43,571
48,395
46,796
45,765
44,392
44,986

44,986

44,392

45,765

46,796

48,395

43,571

44,917

46,893

48,599

48,905

51,122

51,201

53,085

55,602

57,394

46,905

48,343

49,507

14,863

8,719

8,578

8,836

9,116

9,316

9,310

9,502

9,952

10,249

10,451

10,908

11,380

11,590

11,371

10,651

8,601

8,671

8,367

8,583

8,953

9,482

9,951

9,045

8,342

6,484

6,214

5,941

5,812

6,216

6,043

5,979

5,195

5,633

5,368

5,402

5,569

5,757

5,625

5,851

6,114

6,866

6,677

6,937

6,859

Goodwill

3,940
3,845
3,750
0
3,559
3,464
3,369
0
2,746
2,652
2,557
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
412
0
0
0
412
0
0
0
412
0
0
0
412
0
0
0
412
0
0
0
412
0
0
0
412
412
412
412
412
0
0
0
412
412
31,206
31,206
31,206
31,206
51,912
51,912
51,912
51,912
51,912
51,912
51,912
51,912
51,912
51,912
64,539
64,539
64,539
64,539
64,539

64,539

51,912

31,206

412

2,557

2,652

2,746

3,369

3,464

3,559

3,750

3,845

3,940

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
427,392
0
0
0
436,701
1,719,542
1,719,542
1,719,542
412,241
1,739,905
477,130
1,340,848
1,335,579
1,366,022
1,386,129
1,435,675
1,543,004
1,538,502
439,403
417,543
398,502
364,853
378,778
3,255,745
484,702
624,810
705,048
877,315
1,174,864
1,304,029
1,279,810
1,232,205
1,205,413
1,183,041
1,151,777
1,116,844
1,097,170

1,097,170

1,116,844

1,151,777

1,183,041

1,205,413

1,232,205

1,279,810

1,304,029

1,174,864

877,315

705,048

624,810

484,702

3,255,745

378,778

364,853

398,502

417,543

439,403

1,538,502

1,543,004

1,435,675

1,386,129

1,366,022

1,335,579

1,340,848

477,130

1,739,905

412,241

1,719,542

436,701

427,392

Intangible Assets

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
572
0
0
0
424
0
0
0
412
0
0
0
384
0
0
0
332
0
0
0
491
0
0
0
812
853
1,247
1,270
1,205
760
728
701
666
666
3,519
3,429
3,338
3,248
3,158
3,068
2,977
2,887
2,797
2,707
2,617
2,526
2,436
2,346
7,443
7,219
6,996
6,773
13,627

13,627

6,773

6,996

7,219

7,443

2,346

2,436

2,526

2,617

2,707

2,797

2,887

2,977

3,068

3,158

3,248

3,338

3,429

3,519

666

701

728

760

1,205

1,270

1,247

853

812

491

332

384

412

424

572

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
446,264
448,032
428,784
407,902
373,996
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

373,996

407,902

428,784

448,032

446,264

Long-term Assets Other

3,940
3,845
3,750
-359,296
3,559
3,464
3,369
-366,483
2,746
2,652
2,557
0
0
0
0
-387,583
0
0
0
-382,592
0
0
0
-383,669
0
0
0
0
0
0
0
0
0
0
0
0
0
-579,665
-538,794
-532,467
-488,192
-447,974
-464,759
-467,489
-450,322
-419,437
-440,449
0
0
-430,236
0
0
0
-408,143
-443,624
0
-441,821
-446,515
-471,660
-479,821
-460,204
1,165,429
-452,311
-7,267
-7,939
35,851
-3,721
-11,855
-11,514
-649,034
-11,242
-10,486
-10,834
-1,282,314
-10,460
-12,202
-15,080
-9,419
-1,183,041
-1,151,777
-1,116,844
5,168,130

5,168,130

-1,116,844

-1,151,777

-1,183,041

-9,419

-15,080

-12,202

-10,460

-1,282,314

-10,834

-10,486

-11,242

-649,034

-11,514

-11,855

-3,721

35,851

-7,939

-7,267

-452,311

1,165,429

-460,204

-479,821

-471,660

-446,515

-441,821

-443,624

-408,143

-430,236

-440,449

-419,437

-450,322

-467,489

-464,759

-447,974

-488,192

-532,467

-538,794

-579,665

-383,669

-382,592

-387,583

2,557

2,652

2,746

-366,483

3,369

3,464

3,559

-359,296

3,750

3,845

3,940

> Total Liabilities

597,560
609,988
618,532
633,582
642,080
661,804
681,183
661,670
660,114
661,977
674,295
682,708
686,228
688,675
707,548
709,760
728,732
735,505
761,619
779,896
791,679
823,221
824,651
841,168
856,519
902,160
0
0
0
1,041,770
0
1,062,062
1,104,172
1,179,227
1,247,558
1,253,025
1,261,791
1,313,095
1,260,862
1,324,262
1,346,097
1,424,427
1,370,250
1,409,821
1,440,474
1,457,434
1,490,504
1,543,823
1,561,811
1,581,138
1,641,259
1,639,704
1,664,827
1,714,328
1,705,222
1,752,921
1,718,180
1,801,977
1,810,877
1,815,522
1,828,168
1,934,358
1,966,280
2,504,214
2,598,523
2,569,002
2,554,870
3,639,690
3,594,036
3,547,565
3,845,500
3,883,786
4,055,990
4,453,707
4,582,214
4,615,884
4,697,069
5,042,185
5,002,635
4,962,618
4,925,999
4,897,716

4,897,716

4,925,999

4,962,618

5,002,635

5,042,185

4,697,069

4,615,884

4,582,214

4,453,707

4,055,990

3,883,786

3,845,500

3,547,565

3,594,036

3,639,690

2,554,870

2,569,002

2,598,523

2,504,214

1,966,280

1,934,358

1,828,168

1,815,522

1,810,877

1,801,977

1,718,180

1,752,921

1,705,222

1,714,328

1,664,827

1,639,704

1,641,259

1,581,138

1,561,811

1,543,823

1,490,504

1,457,434

1,440,474

1,409,821

1,370,250

1,424,427

1,346,097

1,324,262

1,260,862

1,313,095

1,261,791

1,253,025

1,247,558

1,179,227

1,104,172

1,062,062

1,041,770

902,160

856,519

841,168

824,651

823,221

791,679

779,896

761,619

735,505

728,732

709,760

707,548

688,675

686,228

682,708

674,295

661,977

660,114

661,670

681,183

661,804

642,080

633,582

618,532

609,988

597,560

> Total Current Liabilities

10,588
12,485
11,222
10,937
676
2,221
1,730
2,767
1,036
765
16,471
0
0
0
0
35,197
0
0
0
35,540
0
0
0
3,019
0
0
0
0
0
0
0
0
0
0
0
0
0
0
18,000
63,000
72,000
0
50,000
85,000
115,000
69,000
88,000
0
0
1,557,539
0
0
0
1,687,682
1,679,573
1,726,870
11,500
8,273
1,807,400
1,812,000
66,700
90,000
1,962,914
103,000
113,935
135,691
75,147
40,453
38,930
32,992
35,837
35,923
34,341
9,985
32,271
12,202
15,080
27,413
26,082
25,376
24,196
2,678,118

2,678,118

24,196

25,376

26,082

27,413

15,080

12,202

32,271

9,985

34,341

35,923

35,837

32,992

38,930

40,453

75,147

135,691

113,935

103,000

1,962,914

90,000

66,700

1,812,000

1,807,400

8,273

11,500

1,726,870

1,679,573

1,687,682

1,557,539

88,000

69,000

115,000

85,000

50,000

72,000

63,000

18,000

3,019

35,540

35,197

16,471

765

1,036

2,767

1,730

2,221

676

10,937

11,222

12,485

10,588

Short-term Debt

10,465
12,375
11,119
10,937
578
2,123
1,633
2,767
899
609
16,311
0
0
0
0
35,197
0
0
0
35,540
0
0
0
3,019
0
0
0
0
0
0
0
0
0
0
0
0
0
0
18,000
63,000
72,000
0
50,000
85,000
115,000
69,000
88,000
0
0
4,225
0
0
0
5,390
5,699
114,552
11,500
3,579
3,537
3,494
66,700
90,000
90,000
103,000
113,935
135,691
75,147
40,453
38,930
32,992
35,837
35,923
34,341
33,871
32,271
30,659
6,937
27,413
26,082
25,376
24,196
6,959

6,959

24,196

25,376

26,082

27,413

6,937

30,659

32,271

33,871

34,341

35,923

35,837

32,992

38,930

40,453

75,147

135,691

113,935

103,000

90,000

66,700

3,494

3,537

3,579

11,500

114,552

5,699

5,390

4,225

88,000

69,000

115,000

85,000

50,000

72,000

63,000

18,000

3,019

35,540

35,197

16,311

609

899

2,767

1,633

2,123

578

10,937

11,119

12,375

10,465

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
69,000
0
0
0
4,225
0
0
0
5,390
5,699
114,552
17,003
170
6,844
7,086
70,152
174
0
103,000
113,935
135,691
75,147
0
0
32,992
0
0
0
0
0
0
0
0
0
0
0
0

32,992

75,147

135,691

113,935

103,000

174

70,152

7,086

6,844

170

17,003

114,552

5,699

5,390

4,225

69,000

Accounts payable

123
110
103
0
98
98
97
0
137
156
160
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
993,808
0
1,005,943
1,057,343
1,125,654
1,156,822
1,202,950
1,219,215
1,281,333
1,230,304
1,246,979
1,257,425
1,409,047
1,304,971
1,310,337
1,308,942
1,370,536
1,384,996
1,390,760
1,479,422
1,557,224
1,618,312
1,601,237
1,624,264
1,686,038
1,677,578
1,615,981
1,676,918
1,775,400
1,782,392
1,788,287
1,731,279
1,811,410
1,902,383
2,329,665
2,407,859
2,358,878
2,390,359
3,275,843
3,331,942
21,353
3,730,065
3,764,558
3,934,846
4,331,152
4,473,735
4,264,057
-2,522,460
4,815,376
0
0
0
0

4,815,376

-2,522,460

4,264,057

4,473,735

4,331,152

3,934,846

3,764,558

3,730,065

21,353

3,331,942

3,275,843

2,390,359

2,358,878

2,407,859

2,329,665

1,902,383

1,811,410

1,731,279

1,788,287

1,782,392

1,775,400

1,676,918

1,615,981

1,677,578

1,686,038

1,624,264

1,601,237

1,618,312

1,557,224

1,479,422

1,390,760

1,384,996

1,370,536

1,308,942

1,310,337

1,304,971

1,409,047

1,257,425

1,246,979

1,230,304

1,281,333

1,219,215

1,202,950

1,156,822

1,125,654

1,057,343

1,005,943

993,808

160

156

137

103

110

123

Other Current Liabilities

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,370,536
0
0
0
1,557,224
1,686,038
1,686,038
1,686,038
1,686,038
1,677,578
0
1,676,918
1,775,400
1,782,392
1,788,287
1,731,279
-8,717
1,902,383
2,329,665
2,407,859
-8,229
-75,147
3,275,843
3,331,942
-32,992
11,242
3,764,558
3,934,846
4,331,152
4,473,735
-30,659
2,515,523
-17,990
4,656,776
4,442,590
0
2,671,159

2,671,159

4,442,590

4,656,776

-17,990

2,515,523

-30,659

4,473,735

4,331,152

3,934,846

3,764,558

11,242

-32,992

3,331,942

3,275,843

-75,147

-8,229

2,407,859

2,329,665

1,902,383

-8,717

1,731,279

1,788,287

1,782,392

1,775,400

1,676,918

1,677,578

1,686,038

1,557,224

1,370,536

> Long-term Liabilities

10,588
12,485
11,222
10,937
676
2,221
1,730
2,767
1,036
765
16,471
0
0
0
0
35,197
0
0
0
35,000
0
0
0
55,000
0
0
0
0
0
0
0
0
0
0
0
0
0
20,000
18,000
63,000
72,000
0
50,000
85,000
115,000
69,000
88,000
0
0
3,910
0
0
0
3,746
3,704
0
3,621
3,579
3,537
3,494
3,452
3,409
3,366
3,323
35,990
35,054
75,147
3,599,237
3,555,106
32,992
3,809,663
3,847,863
4,021,649
4,453,707
4,582,214
4,603,682
4,681,989
5,014,772
4,976,553
4,937,242
4,901,803
2,219,598

2,219,598

4,901,803

4,937,242

4,976,553

5,014,772

4,681,989

4,603,682

4,582,214

4,453,707

4,021,649

3,847,863

3,809,663

32,992

3,555,106

3,599,237

75,147

35,054

35,990

3,323

3,366

3,409

3,452

3,494

3,537

3,579

3,621

3,704

3,746

3,910

88,000

69,000

115,000

85,000

50,000

72,000

63,000

18,000

20,000

55,000

35,000

35,197

16,471

765

1,036

2,767

1,730

2,221

676

10,937

11,222

12,485

10,588

Long term Debt Total

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,409
3,366
3,323
0
0
0
9,920
9,959
0
0
0
0
0
0
0
0
0
0
0
0
0

9,959

9,920

3,323

3,366

3,409

Other Liabilities

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
16,060
0
0
0
21,073
0
20,075
22,576
11,762
12,558
14,283
16,672
15,380
15,279
14,484
16,532
17,898
17,508
18,063
18,439
20,004
19,078
21,639
24,176
24,544
23,940
24,277
26,141
22,998
24,948
20,149
22,777
23,578
18,914
18,437
22,606
26,149
22,293
28,327
32,324
35,131
61,990
66,061
69,925
72,174
60,068
68,301
92,108
43,357
0
0
0
0

43,357

92,108

68,301

60,068

72,174

69,925

66,061

61,990

35,131

32,324

28,327

22,293

26,149

22,606

18,437

18,914

23,578

22,777

20,149

24,948

22,998

26,141

24,277

23,940

24,544

24,176

21,639

19,078

20,004

18,439

18,063

17,508

17,898

16,532

14,484

15,279

15,380

16,672

14,283

12,558

11,762

22,576

20,075

21,073

16,060

> Total Stockholder Equity

59,365
60,964
60,201
59,605
63,054
58,878
60,204
61,525
60,646
63,826
63,342
60,416
60,186
59,671
63,372
63,253
64,778
63,665
66,547
69,692
73,416
70,325
71,977
76,044
77,641
77,194
0
0
0
89,218
0
94,664
98,019
96,633
97,915
100,319
103,888
104,891
104,796
101,563
103,730
109,283
112,564
117,242
118,449
116,258
119,593
121,400
125,332
125,063
129,932
134,049
136,228
134,671
138,427
142,298
146,051
147,957
150,873
155,692
160,776
167,026
172,268
237,094
243,345
286,561
297,759
383,060
393,073
401,732
407,673
419,501
427,577
437,837
436,165
442,051
446,290
517,552
525,949
527,004
526,031
534,573

534,573

526,031

527,004

525,949

517,552

446,290

442,051

436,165

437,837

427,577

419,501

407,673

401,732

393,073

383,060

297,759

286,561

243,345

237,094

172,268

167,026

160,776

155,692

150,873

147,957

146,051

142,298

138,427

134,671

136,228

134,049

129,932

125,063

125,332

121,400

119,593

116,258

118,449

117,242

112,564

109,283

103,730

101,563

104,796

104,891

103,888

100,319

97,915

96,633

98,019

94,664

89,218

77,194

77,641

76,044

71,977

70,325

73,416

69,692

66,547

63,665

64,778

63,253

63,372

59,671

60,186

60,416

63,342

63,826

60,646

61,525

60,204

58,878

63,054

59,605

60,201

60,964

59,365

Common Stock

4,519
4,522
4,526
4,536
4,702
4,708
4,708
4,722
4,722
4,730
4,730
0
0
0
0
3,848
0
0
0
3,768
0
0
0
3,749
0
0
0
0
0
3,760
0
0
0
3,806
0
3,846
3,849
3,855
3,856
3,881
3,882
3,885
3,910
3,939
3,939
3,941
3,960
3,995
3,998
4,000
4,025
4,042
4,035
4,037
4,071
4,080
4,082
4,082
4,101
4,104
4,106
4,107
4,124
4,850
4,850
5,401
5,418
6,928
6,928
6,927
6,960
6,966
6,966
6,968
7,001
7,007
7,007
7,796
7,834
7,846
7,846
7,845

7,845

7,846

7,834

7,796

7,007

7,001

6,968

6,966

6,960

6,927

6,928

5,418

5,401

4,850

4,124

4,107

4,106

4,104

4,101

4,082

4,080

4,071

4,037

4,035

4,042

4,025

4,000

3,998

3,995

3,960

3,941

3,939

3,910

3,885

3,882

3,881

3,856

3,855

3,849

3,846

3,806

3,760

3,749

3,768

3,848

4,730

4,722

4,708

4,702

4,536

4,526

4,522

4,519

Retained Earnings

33,114
34,386
35,075
49,447
33,566
34,343
33,473
53,895
35,830
36,672
38,214
0
0
0
0
43,652
0
0
0
45,912
0
0
0
49,384
0
0
0
0
0
64,002
0
0
0
69,826
0
72,665
76,003
75,787
77,614
79,541
81,722
83,479
84,926
86,913
89,184
91,098
92,824
87,508
91,187
99,064
94,914
97,893
99,437
107,262
109,319
103,023
115,048
114,093
119,196
123,276
127,883
131,135
135,235
137,036
142,237
146,875
150,891
146,305
156,062
165,404
175,093
184,790
193,861
202,874
211,730
220,907
231,039
237,369
244,561
246,428
247,714
250,492

250,492

247,714

246,428

244,561

237,369

231,039

220,907

211,730

202,874

193,861

184,790

175,093

165,404

156,062

146,305

150,891

146,875

142,237

137,036

135,235

131,135

127,883

123,276

119,196

114,093

115,048

103,023

109,319

107,262

99,437

97,893

94,914

99,064

91,187

87,508

92,824

91,098

89,184

86,913

84,926

83,479

81,722

79,541

77,614

75,787

76,003

72,665

69,826

64,002

49,384

45,912

43,652

38,214

36,672

35,830

53,895

33,473

34,343

33,566

49,447

35,075

34,386

33,114

Accumulated Other Comprehensive Income

19,853
20,129
18,598
3,180
4,793
-277
1,919
1,310
-456
1,492
-597
60,416
60,186
59,671
63,372
-3,180
64,778
63,665
66,547
810
0
0
0
3,162
0
0
0
0
0
0
0
0
0
0
0
0
0
828
-1,235
-7,389
-7,542
-4,108
-3,119
-1,401
-2,605
-7,045
-6,007
0
0
-8,428
0
0
0
-9,881
-9,559
0
-8,514
-5,881
-8,489
-8,840
-9,002
-6,487
-5,330
-2,636
-1,998
-2,481
4,264
5,287
4,722
2,434
-1,221
-642
-1,944
-1,210
-11,104
-15,781
-22,319
-20,799
-18,696
-20,770
-23,554
-17,714

-17,714

-23,554

-20,770

-18,696

-20,799

-22,319

-15,781

-11,104

-1,210

-1,944

-642

-1,221

2,434

4,722

5,287

4,264

-2,481

-1,998

-2,636

-5,330

-6,487

-9,002

-8,840

-8,489

-5,881

-8,514

-9,559

-9,881

-8,428

-6,007

-7,045

-2,605

-1,401

-3,119

-4,108

-7,542

-7,389

-1,235

828

3,162

810

66,547

63,665

64,778

-3,180

63,372

59,671

60,186

60,416

-597

1,492

-456

1,310

1,919

-277

4,793

3,180

18,598

20,129

19,853

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
0
0
0
0
0
0
0
0
0
35,435
35,663
36,065
37,152
37,789
38,271
38,239
97,844
98,256
136,766
137,186
224,540
225,361
226,967
226,841
228,387
228,694
229,205
228,538
229,918
230,563
293,186
292,250
293,500
0
0

293,500

292,250

293,186

230,563

229,918

228,538

229,205

228,694

228,387

226,841

226,967

225,361

224,540

137,186

136,766

98,256

97,844

38,239

38,271

37,789

37,152

36,065

35,663

35,435

Treasury Stock

Other Stockholders Equity

1,879
1,927
2,002
2,442
19,993
20,104
20,104
1,598
20,550
20,932
20,995
0
0
0
0
18,933
0
0
0
19,202
73,416
70,325
71,977
19,749
77,641
77,194
0
0
0
0
0
0
0
0
0
0
0
24,421
24,561
25,530
25,668
26,027
26,847
27,791
27,931
28,264
28,816
121,400
125,332
30,427
-9,881
134,049
136,228
33,253
34,596
-8,933
35,435
35,663
36,065
37,152
37,789
38,271
38,239
97,844
98,256
136,766
137,186
224,540
225,361
226,967
226,841
228,387
228,694
229,205
228,538
229,918
230,563
293,186
292,250
293,500
294,025
293,950

293,950

294,025

293,500

292,250

293,186

230,563

229,918

228,538

229,205

228,694

228,387

226,841

226,967

225,361

224,540

137,186

136,766

98,256

97,844

38,239

38,271

37,789

37,152

36,065

35,663

35,435

-8,933

34,596

33,253

136,228

134,049

-9,881

30,427

125,332

121,400

28,816

28,264

27,931

27,791

26,847

26,027

25,668

25,530

24,561

24,421

77,194

77,641

19,749

71,977

70,325

73,416

19,202

18,933

20,995

20,932

20,550

1,598

20,104

19,993

2,442

2,002

1,927

1,879

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	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31
Accounts Payable	0	4,815,376	4,331,152	3,403,083	2,358,878	1,811,410	1,775,400	1,686,038	1,557,224	1,370,536	1,409,047	1,281,333	1,125,654	993,808	0	0	0	-	0	0	0
Accumulated Amortization	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
Accumulated Other Comprehensive Income	-17,714	-20,799	-1,210	2,434	-2,481	-6,487	-5,881	-9,881	-8,428	-7,045	-4,108	828	0	0	3,162	810	-3,180	60,416	1,310	3,180	6,141
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0
Capital Lease Obligations	25,165	27,413	33,871	37,448	35,054	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0
Capital Stock	7,845	7,796	6,968	6,927	5,401	4,107	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0
Capital Surpluse	0	293,186	229,205	226,967	136,766	38,271	35,663	33,253	30,427	0	0	0	0	0	0	0	0	-	0	0	0
Cash	33,004	30,719	180,153	75,785	61,335	18,473	103,591	54,050	24,645	17,440	88,107	59,923	22,512	15,756	13,472	18,715	16,841	-	24,196	33,348	29,509
Cash And Equivalents	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	-33,004	184,135	377,956	312,815	201,665	186,636	308,608	379,691	371,818	357,231	476,900	562,241	0	0	13,472	18,715	16,841	-	24,196	33,348	29,509
Common Stock	7,845	7,796	6,968	6,927	5,401	4,107	4,082	4,037	4,000	3,941	3,885	3,855	3,806	3,760	3,749	3,768	3,848	-	4,722	4,536	4,505
Common Stock Shares Outstanding	7,843	7,214	6,991	6,344	4,662	4,099	4,066	4,029	3,994	3,957	3,907	3,880	4,000	4,000	3,758	3,838	3,876	3,990	4,013	4,107	4,139
Common Stock Total Equity	0	7,796	6,968	6,927	5,401	4,107	4,082	4,037	4,000	3,941	3,885	3,855	0	0	3,749	3,768	3,848	-	4,722	4,536	4,505
Current Deferred Revenue	0	17,990	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
Deferred Long Term Liab	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	407,902	457,876	441,447	418,747	436,701	0	0	0	0	0	0	0	0	-	0	0	0
Good Will	64,539	64,539	51,912	51,912	31,206	412	412	412	412	412	412	412	412	412	0	0	0	-	0	0	0
Intangible Assets	13,627	7,443	2,617	2,977	3,338	666	793	812	491	332	384	412	424	572	0	0	0	-	0	0	0
Inventory	17,239	-44,837	-189,315	-85,299	-68,387	0	0	6,506	0	284	403	1,684	0	0	0	0	0	-	0	0	0
Liabilities And Stockholders Equity	5,432,289	5,559,737	4,891,544	3,949,297	2,855,563	2,101,384	1,949,934	1,848,999	1,706,201	1,573,692	1,533,710	1,417,986	0	0	917,212	849,588	773,013	743,124	723,195	693,187	667,795
Long Term Debt	452,155	105,212	16,510	32,992	0	3,409	3,579	3,746	3,910	0	0	0	20,000	31,902	0	0	0	-	0	0	0
Long Term Debt Total	0	0	0	0	0	3,409	3,579	3,746	3,910	0	0	0	0	0	0	0	0	-	0	0	0
Long Term Investments	1,097,170	1,205,413	1,174,864	484,702	398,502	451,032	437,205	408,143	436,701	427,392	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
Net Debt	444,316	101,906	-129,772	-5,345	109,410	74,936	-100,012	-50,304	-20,735	51,560	-88,107	-39,923	0	0	44,547	51,825	18,356	-	-21,429	-22,411	-16,476
Net Invested Capital	986,728	622,764	454,347	434,724	422,252	260,435	151,536	0	0	0	0	0	0	0	0	0	0	-	0	0	0
Net Receivables	15,765	14,118	9,162	9,514	7,052	5,762	5,128	4,627	4,222	3,925	3,626	3,877	0	0	4,391	4,953	5,072	-	4,202	18,558	25,313
Net Tangible Assets	0	445,570	383,308	346,843	252,017	166,614	147,545	134,259	124,651	115,846	0	0	0	0	0	0	0	-	0	0	0
Net Working Capital	-2,629,349	170,840	353,247	289,337	73,026	1,550,696	-1,484,662	-258,501	-293,848	1,076,144	0	0	0	0	14,844	-11,872	-13,284	-	25,631	40,969	51,789
Non Current Assets Total	5,383,520	1,334,361	1,277,992	592,676	481,389	460,688	446,515	419,818	442,510	428,548	458,721	579,665	0	0	383,669	382,592	387,583	-	366,483	359,296	342,553
Non Current Liabilities Other	0	226,809	122,555	144,482	74,433	29,539	22,998	0	0	0	0	0	0	0	0	0	0	-	0	0	0
Non Current Liabilities Total	2,219,598	5,014,772	50,381	70,440	35,054	3,409	3,579	3,746	3,910	69,000	0	20,000	0	0	55,000	35,000	35,197	-	2,767	10,937	10,000
Non Currrent Assets Other	5,168,130	-9,419	-9,985	-11,639	-8,229	-8,717	-446,515	-408,143	-430,236	-419,437	-447,974	-579,665	0	0	-383,669	-382,592	-387,583	-	-366,483	-359,296	-342,553
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
Other Assets	0	4,027,123	3,226,434	3,034,292	2,165,457	2,562,072	1,189,683	2,268,817	2,148,711	2,002,240	1,992,431	272,203	34,308	28,027	515,680	443,328	363,517	743,124	328,314	281,985	270,420
Other Current Assets	48,769	44,837	189,315	85,299	68,387	1,448,298	-210,145	1,044,863	887,651	783,988	594,463	0	0	0	0	0	0	-	0	0	0
Other Current Liab	2,671,159	-17,990	4,331,152	-32,992	-135,691	1,840,949	1,798,398	1,686,038	1,557,224	1,370,536	0	0	0	0	0	0	0	-	0	0	0
Other Liab	0	43,357	72,174	35,131	26,149	23,578	21,058	22,900	19,689	17,898	15,380	11,762	21,073	16,060	0	0	0	-	0	0	0
Other Stockholder Equity	293,950	293,186	229,205	226,967	136,766	38,271	35,663	33,253	30,427	28,264	26,027	24,421	0	0	19,749	19,202	18,933	-	1,598	2,442	1,704
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0
Property Plant And Equipment Gross	73,824	48,395	48,599	53,085	48,343	8,578	9,310	10,451	11,371	8,367	9,951	6,214	0	0	5,979	5,195	5,633	-	5,757	6,866	7,315
Property Plant And Equipment Net	44,986	48,395	48,599	53,085	48,343	8,578	9,310	10,451	11,371	8,367	9,951	6,214	0	0	5,979	5,195	5,633	-	5,757	6,866	7,315
Property Plant Equipment	0	23,297	48,599	53,085	48,343	8,578	9,310	10,451	11,371	8,367	9,951	6,214	6,216	6,043	0	0	0	-	0	0	0
Retained Earnings	250,492	237,369	202,874	165,404	146,875	131,135	114,093	107,262	99,064	91,098	83,479	75,787	69,826	64,002	49,384	45,912	43,652	-	53,895	49,447	46,786
Retained Earnings Total Equity	0	237,369	202,874	165,404	146,875	131,135	114,093	0	0	0	0	0	0	0	0	0	0	-	0	0	0
Short Long Term Debt	0	0	0	32,992	135,691	90,000	0	0	4,225	69,000	0	0	0	0	0	0	0	-	0	0	0
Short Long Term Debt Total	477,320	132,625	50,381	70,440	170,745	93,409	3,579	3,746	3,910	69,000	0	20,000	0	0	58,019	70,540	35,197	-	2,767	10,937	13,033
Short Term Debt	6,959	27,413	33,871	32,992	135,691	90,000	3,579	0	4,225	69,000	0	0	0	0	3,019	35,540	35,197	-	2,767	10,937	3,033
Short Term Investments	137,838	153,416	197,803	237,030	140,330	168,163	205,017	325,641	347,173	339,791	388,793	502,318	0	0	0	0	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
Total Assets	5,432,289	5,559,737	4,891,544	3,949,297	2,855,563	2,101,384	1,949,934	1,848,999	1,706,201	1,573,692	1,533,710	1,417,986	1,275,860	1,130,988	917,212	849,588	773,013	743,124	723,195	693,187	667,795
Total Current Assets	48,769	198,253	387,118	322,329	208,717	1,640,696	313,736	1,429,181	1,263,691	1,145,144	1,074,989	566,118	0	0	17,863	23,668	21,913	-	28,398	51,906	54,822
Total Current Liabilities	2,678,118	27,413	33,871	32,992	135,691	90,000	1,798,398	1,687,682	1,557,539	69,000	0	0	0	0	3,019	35,540	35,197	-	2,767	10,937	3,033
Total Liab	4,897,716	5,042,185	50,381	3,547,565	2,569,002	1,934,358	1,801,977	1,714,328	1,581,138	1,457,434	1,424,427	1,313,095	1,179,227	1,041,770	841,168	779,896	709,760	682,708	661,670	633,582	608,659
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0
Total Stockholder Equity	534,573	517,552	437,837	401,732	286,561	167,026	147,957	134,671	125,063	116,258	109,283	104,891	96,633	89,218	76,044	69,692	63,253	60,416	61,525	59,605	59,136
Treasury Stock	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

	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	2009-06-30	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
Accounts Payable	0	0	0	0	4,815,376	-2,522,460	4,264,057	4,473,735	4,331,152	3,934,846	3,764,558	3,730,065	21,353	3,331,942	3,275,843	2,390,359	2,358,878	2,407,859	2,329,665	1,902,383	1,811,410	1,731,279	1,788,287	1,782,392	1,775,400	1,676,918	1,615,981	1,677,578	1,686,038	1,624,264	1,601,237	1,618,312	1,557,224	1,479,422	1,390,760	1,384,996	1,370,536	1,308,942	1,310,337	1,304,971	1,409,047	1,257,425	1,246,979	1,230,304	1,281,333	1,219,215	1,202,950	1,156,822	1,125,654	1,057,343	1,005,943	0	993,808	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	160	156	137	-	97	98	98	-	103	110	123
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	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
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	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accumulated Other Comprehensive Income	-17,714	-23,554	-20,770	-18,696	-20,799	-22,319	-15,781	-11,104	-1,210	-1,944	-642	-1,221	2,434	4,722	5,287	4,264	-2,481	-1,998	-2,636	-5,330	-6,487	-9,002	-8,840	-8,489	-5,881	-8,514	0	-9,559	-9,881	0	0	0	-8,428	0	0	-6,007	-7,045	-2,605	-1,401	-3,119	-4,108	-7,542	-7,389	-1,235	828	0	0	0	0	0	0	0	0	0	0	0	-	-	3,162	-	-	-	810	66,547	63,665	64,778	-3,180	63,372	59,671	60,186	60,416	-597	1,492	-456	1,310	1,919	-277	4,793	3,180	18,598	20,129	19,853
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	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital Lease Obligations	25,165	24,196	25,376	26,082	27,413	29,080	30,659	32,271	33,871	34,341	35,923	35,837	37,448	38,930	40,453	33,813	35,054	35,990	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	7,845	7,846	7,846	7,834	7,796	7,007	7,007	7,001	6,968	6,966	6,966	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	293,500	292,250	293,186	230,563	229,918	228,538	229,205	228,694	228,387	226,841	226,967	225,361	224,540	137,186	136,766	98,256	97,844	38,239	38,271	37,789	37,152	36,065	35,663	35,435	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash	33,004	25,353	33,398	70,766	30,719	31,542	25,023	81,748	180,153	93,477	98,789	226,633	75,785	64,520	60,742	42,989	61,335	68,949	38,557	37,006	18,473	16,431	35,119	56,265	103,591	13,668	20,989	27,698	54,050	466,291	466,291	466,291	24,645	0	0	23,564	17,440	23,218	21,583	25,056	88,107	25,969	22,854	16,531	59,923	0	0	0	22,512	0	0	0	15,756	0	0	0	-	-	13,472	-	-	-	18,715	-	-	-	16,841	-	-	-	-	20,292	50,827	37,295	24,196	44,573	53,531	38,936	33,348	19,288	30,989	31,153
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	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash And Short Term Investments	31,768	1,142,197	1,185,175	1,253,807	184,135	189,843	198,975	269,953	377,956	304,470	311,055	449,085	312,815	216,625	194,969	160,936	201,665	217,017	191,610	181,768	186,636	196,794	226,130	254,200	308,608	226,117	0	306,829	379,691	0	0	0	371,818	0	0	374,923	357,231	384,450	400,860	405,417	476,900	447,471	482,066	482,725	562,241	0	0	0	0	0	0	0	0	0	0	0	-	-	13,472	-	-	-	18,715	-	-	-	16,841	-	-	-	-	20,292	50,827	37,295	24,196	44,573	53,531	38,936	33,348	19,288	30,989	31,153
Common Stock	7,845	7,846	7,846	7,834	7,796	7,007	7,007	7,001	6,968	6,966	6,966	6,960	6,927	6,928	6,928	5,418	5,401	4,850	4,850	4,124	4,107	4,106	4,104	4,101	4,082	4,082	4,080	4,071	4,037	4,035	4,042	4,025	4,000	3,998	3,995	3,960	3,941	3,939	3,939	3,910	3,885	3,882	3,881	3,856	3,855	3,849	3,846	0	3,806	0	0	0	3,760	0	0	0	-	-	3,749	-	-	-	3,768	-	-	-	3,848	-	-	-	-	4,730	4,730	4,722	4,722	4,708	4,708	4,702	4,536	4,526	4,522	4,519
Common Stock Shares Outstanding	7,854	7,863	7,855	7,826	7,820	7,019	7,027	7,011	7,008	7,000	6,999	6,987	6,971	6,954	5,913	5,432	4,980	4,843	4,716	4,107	4,103	4,101	4,094	4,072	4,074	4,070	4,068	4,051	3,997	4,044	4,038	4,006	3,949	3,997	3,989	3,970	3,898	3,966	3,973	3,940	3,849	3,912	3,907	3,919	3,847	3,884	3,879	3,853	4,000	4,000	4,000	4,000	4,000	4,000	4,000	4,000	3,718	3,719	3,737	3,745	3,779	3,780	3,809	3,820	3,860	3,852	3,853	3,865	3,883	3,924	3,948	4,013	4,012	4,013	3,908	4,107	4,107	4,107	3,912	4,139	4,139	4,139
Common Stock Total Equity	0	0	7,846	7,834	7,796	7,007	7,007	7,001	6,968	6,966	6,966	6,960	6,927	6,928	6,928	5,418	5,401	4,850	4,850	4,124	4,107	4,106	4,104	4,101	4,082	4,082	0	4,071	4,037	0	0	0	4,000	0	0	3,960	3,941	3,939	3,939	3,910	3,885	3,882	3,881	3,856	3,855	0	0	0	0	0	0	0	0	0	0	0	-	-	3,749	-	-	-	3,768	-	-	-	3,848	-	-	-	-	4,730	4,730	4,722	4,722	4,708	4,708	4,702	4,536	4,526	4,522	4,519
Current Deferred Revenue	0	0	0	0	17,990	15,080	12,202	0	9,985	0	0	0	11,639	0	0	0	8,229	0	0	0	8,717	0	0	0	8,273	0	0	0	0	0	0	0	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	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
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	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	373,996	407,902	428,784	448,032	446,264	0	0	0	0	0	0	0	0	0	0	0	0	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	64,539	64,539	64,539	64,539	64,539	51,912	51,912	51,912	51,912	51,912	51,912	51,912	51,912	51,912	51,912	31,206	31,206	31,206	31,206	412	412	0	0	0	412	412	412	412	412	0	0	0	412	0	0	0	412	0	0	0	412	0	0	0	412	0	0	0	412	0	0	0	412	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,557	2,652	2,746	-	3,369	3,464	3,559	-	3,750	3,845	3,940
Intangible Assets	13,627	6,773	6,996	7,219	7,443	2,346	2,436	2,526	2,617	2,707	2,797	2,887	2,977	3,068	3,158	3,248	3,338	3,429	3,519	666	666	701	728	760	1,205	1,270	1,247	853	812	0	0	0	491	0	0	0	332	0	0	0	384	0	0	0	412	0	0	0	424	0	0	0	572	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventory	-47,533	-40,608	-47,971	-84,895	-44,837	-42,800	-35,084	0	0	0	0	1,820	1,820	1,820	1,970	2,457	163	185	0	0	0	0	566	0	0	560	424	718	6,506	3,268	1,509	1,890	0	291	2,516	1,492	284	173	816	416	403	0	0	1,199	1,684	1,437	253	0	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Liabilities And Stockholders Equity	5,432,289	5,452,030	5,489,622	5,528,584	5,559,737	5,143,359	5,057,935	5,018,379	4,891,544	4,483,567	4,303,287	4,253,173	3,949,297	3,987,109	4,022,750	2,852,629	2,855,563	2,841,868	2,741,308	2,138,548	2,101,384	1,988,944	1,971,214	1,961,750	1,949,934	1,864,231	0	1,843,649	1,848,999	1,801,055	1,773,753	0	1,706,201	1,687,143	1,665,223	1,610,097	1,573,692	1,558,923	1,527,063	1,482,814	1,533,710	1,449,827	1,425,825	1,365,658	1,417,986	0	0	0	0	0	0	0	0	0	0	0	979,354	934,160	917,212	896,628	893,546	865,095	849,588	828,166	799,170	793,510	773,013	770,920	748,346	746,414	743,124	737,637	725,803	720,760	723,195	741,387	720,682	705,134	693,187	678,733	670,952	656,925
Long Term Debt	452,155	233,905	408,926	240,997	105,212	294,459	252,867	16,140	16,510	16,878	17,244	17,608	32,992	9,959	247,817	0	0	0	3,323	3,366	3,235	3,452	3,494	3,537	3,579	3,621	3,663	3,704	3,746	3,787	3,828	3,869	3,910	3,950	0	0	0	0	0	0	0	0	0	0	0	20,000	30,000	0	30,000	0	0	0	31,902	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Long Term Debt Total	0	0	0	0	0	0	0	0	0	0	0	0	0	9,959	9,920	0	0	0	3,323	3,366	3,409	0	0	0	0	0	0	0	0	0	0	0	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	1,097,170	1,116,844	1,151,777	1,183,041	1,205,413	1,232,205	1,279,810	1,304,029	1,174,864	877,315	705,048	624,810	484,702	3,255,745	378,778	364,853	398,502	417,543	439,403	1,538,502	1,543,004	1,435,675	1,386,129	1,366,022	1,335,579	1,340,848	477,130	1,739,905	412,241	1,719,542	1,719,542	1,719,542	436,701	0	0	0	427,392	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	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Debt	444,316	232,748	400,904	196,313	101,906	291,997	258,503	-33,337	-129,772	-42,258	-45,622	-173,188	-5,345	120,174	227,528	65,971	109,410	80,976	67,766	-33,640	74,936	53,721	-31,625	-52,728	-100,012	1,453	0	-23,994	-50,304	0	0	0	-20,735	0	0	64,436	51,560	91,782	63,417	24,944	-88,107	46,031	40,146	1,469	-39,923	0	0	0	0	0	0	0	0	0	0	0	-	-	44,547	-	-	-	51,825	-	-	-	18,356	-	-	-	-	-3,981	-50,218	-36,396	-21,429	-42,940	-51,408	-38,358	-22,411	-8,169	-18,614	-20,688
Net Invested Capital	986,728	759,936	935,930	766,946	622,764	740,749	694,918	452,305	454,347	444,455	436,745	425,281	434,724	538,837	630,877	372,906	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	15,765	15,255	14,573	14,129	14,118	11,258	10,061	9,718	9,162	8,895	8,983	8,871	9,514	9,375	8,631	6,872	7,052	6,959	7,485	6,012	5,762	5,536	5,279	5,059	5,128	4,899	0	4,299	4,627	4,627	4,627	4,627	4,222	0	0	4,030	3,925	3,858	3,707	3,610	3,626	3,562	4,007	3,714	3,877	0	0	0	0	0	0	0	0	0	0	0	-	-	4,391	-	-	-	4,953	-	-	-	5,072	-	-	-	-	4,442	4,223	4,151	4,202	3,518	4,297	3,570	18,558	4,148	4,609	4,141
Net Tangible Assets	0	0	455,469	454,191	445,570	392,032	387,703	381,727	383,308	372,958	364,792	352,874	346,843	338,093	327,990	263,305	252,017	208,710	202,369	172,268	167,026	160,776	155,692	150,873	147,957	146,051	141,886	138,427	134,259	134,671	134,671	134,671	124,651	0	0	0	115,846	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Working Capital	-2,629,349	1,133,256	1,174,372	1,241,854	170,840	186,021	196,834	247,400	377,133	279,024	284,115	422,119	289,337	187,070	163,147	92,661	2,202,632	2,226,248	2,149,317	-1,775,134	1,550,696	135,630	-1,580,591	-1,548,141	305,463	219,516	-1,686,884	-291,062	-258,501	0	0	0	-293,848	0	0	290,953	1,076,144	273,308	319,567	359,027	0	379,033	423,073	468,439	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non Current Assets Total	5,383,520	132,199	133,141	133,152	1,334,361	1,330,034	1,379,075	1,405,360	1,282,314	980,839	810,879	730,810	649,034	502,702	491,242	446,212	517,240	501,685	488,991	452,311	460,688	460,204	479,821	471,660	446,515	441,821	0	455,138	419,818	0	0	0	442,510	0	0	440,449	428,548	450,322	467,489	464,759	458,721	488,192	532,467	538,794	579,665	0	0	0	0	0	0	0	0	0	0	0	-	-	383,669	-	-	-	382,592	-	-	-	387,583	-	-	-	-	384,442	362,288	372,724	366,483	391,612	363,739	367,341	359,296	365,888	360,648	357,508
Non Current Liabilities Other	0	0	520,028	345,859	226,809	415,647	351,827	108,479	122,555	121,144	119,228	115,435	144,482	252,135	353,927	89,364	74,433	76,729	68,226	60,531	29,539	26,737	23,741	24,948	22,998	26,141	0	0	0	0	0	0	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	2,219,598	4,901,803	4,937,242	4,976,553	5,014,772	4,681,989	4,603,682	4,582,214	4,453,707	4,021,649	3,847,863	3,809,663	32,992	3,555,106	3,599,237	75,147	35,054	35,990	3,323	3,366	3,409	3,452	3,494	3,537	3,579	3,621	0	3,704	3,746	0	0	0	3,910	0	0	88,000	69,000	115,000	85,000	50,000	0	72,000	63,000	18,000	20,000	0	0	0	0	0	0	0	0	0	0	0	-	-	55,000	-	-	-	35,000	-	-	-	35,197	-	-	-	-	16,471	765	1,036	2,767	1,730	2,221	676	10,937	11,222	12,485	10,588
Non Currrent Assets Other	5,168,130	-1,116,844	-1,151,777	-1,183,041	-9,419	-15,080	-12,202	-10,460	-1,282,314	-10,834	-10,486	-11,242	-649,034	-11,514	-11,855	-3,721	35,851	-7,939	-7,267	-452,311	1,165,429	-460,204	-479,821	-471,660	-446,515	-441,821	0	-443,624	-408,143	0	0	0	-430,236	0	0	-440,449	-419,437	-450,322	-467,489	-464,759	-447,974	-488,192	-532,467	-538,794	-579,665	0	0	0	0	0	0	0	0	0	0	0	-	-	-383,669	-	-	-	-382,592	-	-	-	-387,583	-	-	-	-	2,557	2,652	2,746	-366,483	3,369	3,464	3,559	-359,296	3,750	3,845	3,940
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	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Assets	5,168,153	4,162,379	4,156,733	4,127,496	4,027,123	3,612,224	3,469,824	3,333,348	3,222,112	3,189,363	3,172,370	3,064,407	2,977,934	3,258,407	3,327,908	2,238,609	3,372,803	3,343,553	3,230,299	1,498,457	2,562,072	1,326,410	1,259,984	1,230,831	1,189,683	1,191,394	538,584	2,298,787	2,268,817	1,801,055	1,773,753	508,094	2,148,711	1,687,143	1,665,223	790,695	2,002,240	720,293	655,007	609,028	1,992,431	510,602	407,285	340,425	272,203	624,922	613,507	0	584,026	0	0	0	549,506	0	0	0	979,354	934,160	515,680	896,628	893,546	865,095	443,328	828,166	799,170	793,510	363,517	770,920	748,346	746,414	743,124	1,122,079	1,088,091	1,093,484	328,314	1,132,999	1,084,421	1,072,475	281,985	1,044,621	1,031,600	1,014,433
Other Current Assets	48,769	40,608	47,971	84,895	44,837	42,800	35,084	1,115,824	-236,678	3,189,363	3,172,370	3,064,407	2,977,934	3,258,407	3,327,908	2,238,609	2,129,606	2,116,207	2,053,222	18,512	1,448,298	21,136	20,545	20,959	18,428	18,859	17,118	1,077,383	1,044,863	0	0	0	887,651	0	0	0	783,988	0	0	0	594,463	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	328,461	308,465	306,590	-	301,684	299,115	295,287	-	289,409	274,706	264,123
Other Current Liab	2,671,159	0	4,442,590	4,656,776	-17,990	2,515,523	-30,659	4,473,735	4,331,152	3,934,846	3,764,558	11,242	-32,992	3,331,942	3,275,843	-75,147	-8,229	2,407,859	2,329,665	1,902,383	-8,717	1,731,279	1,788,287	1,782,392	1,775,400	1,676,918	0	1,677,578	1,686,038	1,686,038	1,686,038	1,686,038	1,557,224	0	0	0	1,370,536	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Liab	0	0	0	0	43,357	92,108	68,301	60,068	72,174	69,925	66,061	61,990	35,131	32,324	28,327	22,293	26,149	22,606	18,437	18,914	23,578	22,777	20,149	24,948	22,998	26,141	24,277	23,940	24,544	24,176	21,639	19,078	20,004	18,439	18,063	17,508	17,898	16,532	14,484	15,279	15,380	16,672	14,283	12,558	11,762	22,576	20,075	0	21,073	0	0	0	16,060	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Stockholder Equity	293,950	294,025	293,500	292,250	293,186	230,563	229,918	228,538	229,205	228,694	228,387	226,841	226,967	225,361	224,540	137,186	136,766	98,256	97,844	38,239	38,271	37,789	37,152	36,065	35,663	35,435	-8,933	34,596	33,253	136,228	134,049	-9,881	30,427	125,332	121,400	28,816	28,264	27,931	27,791	26,847	26,027	25,668	25,530	24,561	24,421	0	0	0	0	0	0	0	0	0	0	0	77,194	77,641	19,749	71,977	70,325	73,416	19,202	-	-	-	18,933	-	-	-	-	20,995	20,932	20,550	1,598	20,104	20,104	19,993	2,442	2,002	1,927	1,879
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	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property Plant And Equipment Gross	73,824	44,392	45,765	46,796	48,395	43,571	0	0	0	31,639	51,122	51,201	53,085	55,602	57,394	46,905	48,343	49,507	14,863	8,719	8,578	8,836	9,116	9,316	9,310	9,502	0	10,249	10,451	0	0	0	11,371	0	0	8,671	8,367	8,583	8,953	9,482	9,951	9,045	8,342	6,484	6,214	0	0	0	0	0	0	0	0	0	0	0	-	-	5,979	-	-	-	5,195	-	-	-	5,633	-	-	-	-	5,368	5,402	5,569	5,757	5,625	5,851	6,114	6,866	6,677	6,937	6,859
Property Plant And Equipment Net	44,986	44,392	45,765	46,796	48,395	43,571	44,917	46,893	48,599	48,905	51,122	51,201	53,085	55,602	57,394	46,905	48,343	49,507	14,863	8,719	8,578	8,836	9,116	9,316	9,310	9,502	0	10,249	10,451	0	0	0	11,371	0	0	8,671	8,367	8,583	8,953	9,482	9,951	9,045	8,342	6,484	6,214	0	0	0	0	0	0	0	0	0	0	0	-	-	5,979	-	-	-	5,195	-	-	-	5,633	-	-	-	-	5,368	5,402	5,569	5,757	5,625	5,851	6,114	6,866	6,677	6,937	6,859
Property Plant Equipment	0	0	22,654	22,941	23,297	43,571	44,917	17,136	48,599	48,905	51,122	51,201	53,085	18,255	57,394	46,905	48,343	49,507	50,467	8,719	8,578	8,836	9,116	9,316	9,310	9,502	9,952	10,249	10,451	10,908	11,380	11,590	11,371	10,651	8,601	8,671	8,367	8,583	8,953	9,482	9,951	9,045	8,342	6,484	6,214	5,941	5,812	0	6,216	0	0	0	6,043	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Retained Earnings	250,492	247,714	246,428	244,561	237,369	231,039	220,907	211,730	202,874	193,861	184,790	175,093	165,404	156,062	146,305	150,891	146,875	142,237	137,036	135,235	131,135	127,883	123,276	119,196	114,093	115,048	103,023	109,319	107,262	99,437	97,893	94,914	99,064	91,187	87,508	92,824	91,098	89,184	86,913	84,926	83,479	81,722	79,541	77,614	75,787	76,003	72,665	0	69,826	0	0	0	64,002	0	0	0	-	-	49,384	-	-	-	45,912	-	-	-	43,652	-	-	-	-	38,214	36,672	35,830	53,895	33,473	34,343	33,566	49,447	35,075	34,386	33,114
Retained Earnings Total Equity	0	0	246,428	244,561	237,369	231,039	220,907	211,730	202,874	193,861	184,790	175,093	165,404	156,062	146,305	150,891	146,875	142,237	137,036	135,235	131,135	127,883	123,276	119,196	114,093	115,048	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Short Long Term Debt	0	0	0	0	0	0	0	0	0	0	0	0	32,992	0	0	75,147	135,691	113,935	103,000	0	174	70,152	7,086	6,844	170	17,003	114,552	5,699	5,390	0	0	0	4,225	0	0	0	69,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Short Long Term Debt Total	477,320	258,101	434,302	267,079	132,625	323,539	283,526	48,411	50,381	51,219	53,167	53,445	70,440	184,694	288,270	108,960	170,745	149,925	106,323	3,366	93,409	70,152	3,494	3,537	3,579	15,121	0	3,704	3,746	0	0	0	3,910	0	0	88,000	69,000	115,000	85,000	50,000	0	72,000	63,000	18,000	20,000	0	0	0	0	0	0	0	0	0	0	0	-	-	58,019	-	-	-	70,540	-	-	-	35,197	-	-	-	-	16,311	609	899	2,767	1,633	2,123	578	10,937	11,119	12,375	10,465
Short Term Debt	6,959	24,196	25,376	26,082	27,413	6,937	30,659	32,271	33,871	34,341	35,923	35,837	32,992	38,930	40,453	75,147	135,691	113,935	103,000	90,000	90,000	66,700	3,494	3,537	3,579	11,500	114,552	5,699	5,390	0	0	0	4,225	0	0	88,000	69,000	115,000	85,000	50,000	0	72,000	63,000	18,000	0	0	0	0	0	0	0	0	0	0	0	0	-	-	3,019	-	-	-	35,540	-	-	-	35,197	-	-	-	-	16,311	609	899	2,767	1,633	2,123	578	10,937	11,119	12,375	10,465
Short Term Investments	137,838	136,253	144,306	152,183	153,416	158,301	173,952	188,205	197,803	210,993	212,266	222,452	237,030	152,105	134,227	117,947	140,330	148,068	153,053	144,762	168,163	180,363	191,011	197,935	205,017	212,449	0	279,131	325,641	0	0	0	347,173	0	0	351,359	339,791	361,232	379,277	380,361	388,793	421,502	459,212	466,194	502,318	0	0	0	0	0	0	0	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	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total Assets	5,432,289	5,452,030	5,489,622	5,528,584	5,559,737	5,143,359	5,057,935	5,018,379	4,891,544	4,483,567	4,303,287	4,253,173	3,949,297	3,987,109	4,022,750	2,852,629	2,855,563	2,841,868	2,741,308	2,138,548	2,101,384	1,988,944	1,971,214	1,961,750	1,949,934	1,864,231	1,895,219	1,843,649	1,848,999	1,801,055	1,773,753	1,771,191	1,706,201	1,687,143	1,665,223	1,610,097	1,573,692	1,558,923	1,527,063	1,482,814	1,533,710	1,449,827	1,425,825	1,365,658	1,417,986	1,365,679	1,353,344	1,345,473	1,275,860	1,202,191	1,156,726	0	1,130,988	0	0	0	979,354	934,160	917,212	896,628	893,546	865,095	849,588	828,166	799,170	793,510	773,013	770,920	748,346	746,414	743,124	737,637	725,803	720,760	723,195	741,387	720,682	705,134	693,187	678,733	670,952	656,925
Total Current Assets	48,769	1,157,452	1,199,748	1,267,936	198,253	201,101	209,036	279,671	387,118	313,365	320,038	457,956	322,329	226,000	203,600	167,808	2,338,323	2,340,183	2,252,317	187,780	1,640,696	202,330	231,409	259,259	313,736	231,016	39,986	1,388,511	1,429,181	0	0	0	1,263,691	0	0	378,953	1,145,144	388,308	404,567	409,027	1,074,989	451,033	486,073	486,439	566,118	0	0	0	0	0	0	0	0	0	0	0	-	-	17,863	-	-	-	23,668	-	-	-	21,913	-	-	-	-	353,195	363,515	348,036	28,398	349,775	356,943	337,793	51,906	312,845	310,304	299,417
Total Current Liabilities	2,678,118	24,196	25,376	26,082	27,413	15,080	12,202	32,271	9,985	34,341	35,923	35,837	32,992	38,930	40,453	75,147	135,691	113,935	103,000	1,962,914	90,000	66,700	1,812,000	1,807,400	8,273	11,500	1,726,870	1,679,573	1,687,682	0	0	0	1,557,539	0	0	88,000	69,000	115,000	85,000	50,000	0	72,000	63,000	18,000	0	0	0	0	0	0	0	0	0	0	0	0	-	-	3,019	-	-	-	35,540	-	-	-	35,197	-	-	-	-	16,471	765	1,036	2,767	1,730	2,221	676	10,937	11,222	12,485	10,588
Total Liab	4,897,716	4,925,999	4,962,618	5,002,635	5,042,185	4,697,069	4,615,884	4,582,214	4,453,707	4,055,990	3,883,786	3,845,500	3,547,565	3,594,036	3,639,690	2,554,870	2,569,002	2,598,523	2,504,214	1,966,280	1,934,358	1,828,168	1,815,522	1,810,877	1,801,977	1,718,180	1,752,921	1,705,222	1,714,328	1,664,827	1,639,704	1,641,259	1,581,138	1,561,811	1,543,823	1,490,504	1,457,434	1,440,474	1,409,821	1,370,250	1,424,427	1,346,097	1,324,262	1,260,862	1,313,095	1,261,791	1,253,025	1,247,558	1,179,227	1,104,172	1,062,062	0	1,041,770	0	0	0	902,160	856,519	841,168	824,651	823,221	791,679	779,896	761,619	735,505	728,732	709,760	707,548	688,675	686,228	682,708	674,295	661,977	660,114	661,670	681,183	661,804	642,080	633,582	618,532	609,988	597,560
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	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total Stockholder Equity	534,573	526,031	527,004	525,949	517,552	446,290	442,051	436,165	437,837	427,577	419,501	407,673	401,732	393,073	383,060	297,759	286,561	243,345	237,094	172,268	167,026	160,776	155,692	150,873	147,957	146,051	142,298	138,427	134,671	136,228	134,049	129,932	125,063	125,332	121,400	119,593	116,258	118,449	117,242	112,564	109,283	103,730	101,563	104,796	104,891	103,888	100,319	97,915	96,633	98,019	94,664	0	89,218	0	0	0	77,194	77,641	76,044	71,977	70,325	73,416	69,692	66,547	63,665	64,778	63,253	63,372	59,671	60,186	60,416	63,342	63,826	60,646	61,525	60,204	58,878	63,054	59,605	60,201	60,964	59,365
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	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
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	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

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	2008-12-31	2007-12-31	2006-12-31	2004-12-31	2003-12-31	2002-12-31
Begin Period Cash Flow	30,719	180,153	75,785	61,335	18,473	103,591	54,050	24,645	17,440	88,107	59,923	22,512	0	39,651	28,843	17,184	20,952	33,348	59,424	20,567
Capital Expenditures	1,372	1,776	2,033	2,218	1,896	1,155	807	1,187	4,939	233	5,306	1,428	1,614	1,935	2,062	890	1,464	708	1,426	1,269
Cash And Cash Equivalents Changes	0	-149,434	104,368	14,450	42,862	-85,118	49,541	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	-29,774	4,039	-23,712	-12,764	-12,233	-758	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	2,285	-149,434	104,368	14,450	42,862	-85,118	49,541	29,405	7,205	-70,667	28,184	37,411	0	0	10,808	11,659	-3,768	20,278	-26,076	38,857
Change In Working Capital	-7,146	-8,586	11,673	-7,641	-2,209	-5,410	7,518	-5,543	1,119	-2,097	6,279	-10,339	0	0	1,193	772	-35,197	-3,017	6,385	1,315
Change Receivables	0	-4,280	352	253	-162	-634	-501	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	-1,647	-4,280	352	253	-162	-634	-501	963	-297	-2,216	4,998	-8,655	0	0	0	0	0	0	0	0
Change To Inventory	0	0	0	0	0	0	6,506	0	284	119	1,281	0	0	0	0	0	0	0	0	0
Change To Liabilities	0	26,260	429	20,332	11,166	7,455	2,687	-828	-762	0	0	0	0	0	0	0	0	0	0	0
Change To Netincome	0	6,109	8,502	20,613	3,126	2,888	1,682	473	103	250	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	-4,306	11,321	-7,894	-2,047	-4,776	8,012	-4,267	2,178	119	0	0	0	0	0	0	0	0	0	0
Depreciation	3,693	2,282	-1,838	-8,134	2,004	1,888	1,948	2,107	1,935	1,817	1,569	1,430	0	0	1,278	1,536	1,720	2,615	3,261	2,837
Dividends Paid	-20,986	18,414	16,554	13,083	9,517	8,041	7,582	7,428	7,178	6,602	6,164	5,764	5,388	5,253	4,821	4,511	4,095	3,616	3,441	3,292
End Period Cash Flow	33,004	30,719	180,153	75,785	61,335	18,473	103,591	54,050	24,645	17,440	88,107	59,923	22,512	0	39,651	28,843	17,184	53,626	33,348	59,424
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	31,718	50,174	63,475	34,579	26,897	22,867	27,908	14,020	15,077	15,868	17,889	4,473	14,035	11,840	10,688	11,288	9,491	6,753	15,528	6,292
Investments	114,604	-450,710	-854,429	-58,928	-113,639	-226,404	-61,760	-107,569	-12,985	33,943	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	0	0	0	0	38,202	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	85,026	-16,393	-234,989	28,823	89,830	-167	-164	-65,090	69,000	0	0	0	0	0	0	0	0	0	0
Net Income	34,078	52,909	54,024	31,959	25,257	23,881	14,816	16,896	15,694	14,944	14,140	13,403	12,477	13,254	9,613	9,243	8,680	8,184	6,103	2,414
Other Cashflows From Financing Activities	199,357	133,363	928,269	284,653	98,856	125,954	89,283	128,733	121,638	30,489	127,714	155,679	131,846	121,041	89,029	70,531	23,360	33,265	36,969	54,679
Other Cashflows From Investing Activities	0	73,303	918	8,505	2,063	676	-144	2,367	-123,466	-6,724	0	0	0	3,652	0	0	0	0	0	0
Other Non Cash Items	-13	2,799	-3,529	16,714	1,461	1,751	746	1,085	385	451	389	938	0	0	-469	-179	35,752	-321	1,205	995
Sale Purchase Of Stock	0	-85,026	-1,440	-87,163	38,202	0	-470	-1,560	-667	-864	-342	-103	0	0	-1,965	-3,037	0	0	0	0
Stock Based Compensation	813	1,959	2,279	4,564	2,170	2,633	1,000	968	498	509	439	551	0	0	315	228	0	0	0	0
Total Cash From Financing Activities	-168,572	177,799	895,322	36,581	127,541	117,743	82,586	121,767	115,594	24,948	102,463	138,249	127,993	98,657	50,360	63,509	19,265	29,649	23,528	51,387
Total Cash From Operating Activities	33,090	51,950	65,508	36,797	28,793	24,022	28,715	15,207	20,016	16,101	23,195	5,901	15,649	13,775	12,750	12,178	10,955	7,461	16,954	7,561
Total Cashflows From Investing Activities	0	-379,183	-856,462	-58,928	-113,472	-226,883	-61,760	-107,569	-128,405	-111,716	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
Begin Period Cash Flow	25,353	33,398	70,766	30,719	31,542	25,023	81,748	180,153	93,477	98,789	226,633	75,785	64,520	60,742	42,989	61,335	68,949	38,557	37,006	18,473	16,431	35,119	56,265	103,591	13,668	33,089	27,698	54,050	19,016	0	46,419	24,645	0	0	23,564	17,440	23,218	21,583	25,056	88,107	25,969	22,854	16,531	59,923	20,114	42,029	39,904	22,512	0	0	0	0	0	0	0	0
Capital Expenditures	127	334	574	337	312	817	187	460	709	599	415	310	887	523	444	364	402	614	346	534	175	254	256	470	286	21	211	289	96	1,091	1,042	721	4,939	3,606	1,106	728	219	14	-529	-469	1,312	1,099	2,239	656	642	475	199	112	1,614	0	0	0	1,935	0	0	0
Cash And Cash Equivalents Changes	0	0	-37,368	40,047	-823	6,519	-56,725	-98,405	86,676	-5,312	-127,844	150,848	11,265	3,778	17,753	-18,346	-7,614	30,392	1,551	18,533	2,042	-18,688	-21,146	-47,326	0	0	0	0	0	0	0	0	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	-14,072	6,107	14,406	-18,533	-24,200	-1,447	-3,861	2,441	64	5,395	6,547	2,042	-8,560	-23,741	3,511	-10,249	29,326	-35,352	-2,529	-3,455	-1,305	-4,944	0	0	0	0	0	0	0	0	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	7,651	-27,051	-37,368	40,047	-823	6,519	-56,725	-98,405	86,676	-5,312	-127,844	150,848	11,265	3,778	17,753	-18,346	-7,614	30,392	1,551	18,533	2,042	-18,688	-21,146	-47,326	89,923	-19,421	5,391	-26,352	35,034	-26,352	-26,352	21,774	7,205	0	0	6,124	-5,778	1,635	-3,473	-63,051	62,138	3,115	6,323	-43,392	39,809	-21,915	2,125	17,392	0	0	0	0	0	0	0	0
Change In Working Capital	-167	5,458	-2,650	-10,401	14,196	5,452	-15,015	-13,219	-575	8,034	6,275	-2,061	3,682	-2,054	-3,992	-5,277	2,703	1,153	-1,014	-5,051	335	-83	-3,158	-2,504	1,227	1,014	191	5,086	-5,047	0	0	-3,581	0	0	0	-1,403	-1,882	1,869	-711	-1,373	-559	1,954	3,690	1,194	-10,310	1,459	-1,294	-194	0	0	0	0	0	0	0	0
Change Receivables	0	0	-444	-11	-2,184	-1,197	-343	-556	-267	88	-112	643	-139	-744	956	180	-93	526	-345	-250	-226	-257	-220	69	0	0	0	0	0	0	0	0	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	-510	-682	-444	-11	-2,184	-1,197	-343	-556	-267	88	-112	643	-139	-744	956	180	-93	526	-345	-250	-226	-257	-220	69	-229	-305	33	328	916	-702	-702	0	-297	0	0	0	-2,216	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	6,506	5,946	6,082	5,788	0	0	0	0	284	0	0	0	119	230	0	0	1,281	1,684	1,684	485	0	0	0	0	0	0	0	0	0	0	0	0
Change To Liabilities	0	0	12,425	-15,830	2,474	25,794	9,047	-11,055	4,960	4,103	3,403	-12,037	-3,976	1,413	3,282	19,613	-1,573	11,965	-29,864	30,638	3,090	3,063	-1,069	2,371	2,687	-391	692	-575	-828	269	0	0	-762	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	658	1,634	2,593	344	873	2,299	-1,194	1,231	512	4,791	1,174	-1,441	11,903	3,213	1,223	289	647	967	500	1,027	-111	1,472	1,682	254	-254	844	473	131	131	0	103	0	0	0	250	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	0	0	16,380	6,649	-14,672	-12,663	-11,629	7,946	6,387	-2,704	3,821	-1,310	-4,948	-5,457	2,796	627	-669	-4,801	561	174	-2,938	-2,573	8,012	1,194	-720	-457	-4,267	-2	-2	0	2,178	0	0	0	119	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	289	265	80	667	2,230	-469	-216	52	67	-59	-1,083	-763	-2,311	-3,786	-2,115	78	601	522	488	393	434	535	455	464	478	471	508	491	553	815	815	502	2,073	0	0	424	435	460	461	461	406	396	381	386	369	346	362	353	0	0	0	0	0	0	0	0
Dividends Paid	-5,256	55,698	5,248	5,224	4,989	4,484	4,481	4,460	4,249	4,248	4,247	3,810	3,673	3,671	2,870	2,869	2,473	2,475	2,471	2,098	2,054	2,052	1,967	1,968	1,919	1,918	1,877	1,868	1,858	5,570	3,711	1,852	7,178	5,377	3,578	1,782	1,655	1,654	1,654	1,639	1,633	1,514	1,513	1,504	1,503	1,425	1,422	1,414	5,388	0	0	0	5,253	0	0	0
End Period Cash Flow	33,004	-27,051	33,398	70,766	30,719	31,542	25,023	81,748	180,153	93,477	98,789	226,633	75,785	64,520	60,742	42,989	61,335	68,949	38,557	37,006	18,473	16,431	35,119	56,265	103,591	13,668	33,089	27,698	54,050	19,016	0	46,419	24,645	0	0	23,564	17,440	23,218	21,583	25,056	88,107	25,969	22,854	16,531	59,923	20,114	42,029	39,904	22,512	0	0	0	0	0	0	0
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	7,922	28,647	5,509	4,217	28,285	20,676	-936	2,149	12,500	20,524	19,233	11,218	14,413	10,649	3,255	6,262	10,166	10,238	4,234	2,259	6,501	7,535	3,901	4,930	5,967	5,351	6,521	10,069	1,789	12,231	6,249	85	15,077	11,266	6,549	2,132	2,208	6,890	4,193	2,591	2,838	5,363	5,532	4,156	-6,980	5,272	2,657	3,524	14,035	0	0	0	11,840	0	0	0
Investments	30,842	35,211	8,707	63,918	-74,131	-68,595	-92,128	-215,856	397,902	-191,563	-79,411	-168,304	40,726	41,964	-190,729	7,379	-26,218	-63,104	-41,779	17,462	-105,783	-33,809	-28,916	-57,896	-29,784	36,890	-24,790	-26,744	19,835	-26,744	-26,744	0	-12,985	0	0	0	33,943	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
Net Borrowings	0	0	167,929	135,785	-192,972	41,606	236,745	-353	16,042	-349	-347	-15,346	-112,718	-101,943	40,216	-60,544	21,756	7,612	89,498	-90,043	23,257	66,658	-43	-42	-167	-97,542	108,959	-42	-164	-42	-42	0	-65,090	0	0	0	69,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	8,025	28,647	7,115	12,416	11,319	14,616	13,658	13,316	13,262	13,319	13,944	13,499	13,015	13,428	-1,716	7,232	7,111	7,676	4,272	6,198	5,306	6,659	6,111	5,805	964	5,010	4,514	4,328	4,423	4,575	4,020	3,878	3,870	4,355	3,736	3,733	3,866	3,926	3,641	3,511	3,639	3,695	3,475	3,331	3,003	3,664	3,451	3,285	2,910	3,286	3,176	3,105	2,654	3,176	4,678	2,746
Other Cashflows From Financing Activities	191,652	55,698	-46,336	-22,864	-94,960	100,571	27,099	142,259	395,982	169,975	-52,988	311,744	-128,251	-104,581	105,617	-29,118	10,911	26,316	39,547	953	103,421	9,680	5,879	6,974	86,962	-35,529	46,669	-8,480	49,154	66,979	43,973	61,068	186,688	108,886	20,224	33,460	15,594	28,605	40,366	-54,076	79,622	19,446	61,675	-33,029	64,618	16,265	6,128	68,668	131,846	0	0	0	121,041	0	0	0
Other Cashflows From Investing Activities	0	0	0	0	82,122	-43	13,721	-22,497	-918	-918	248	670	758	2,770	43,063	1,586	1,305	-914	2,063	4,172	-178	-2,153	-271	676	-144	0	-3,508	676	2,367	0	0	0	1,490	0	0	0	-6,724	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,652	0	0	0
Other Non Cash Items	817	-28,647	768	111	1,806	2,018	-474	134	-553	-604	-1,588	-784	-1,381	2,059	14,145	1,891	-361	1,519	237	66	683	545	79	444	669	51	60	160	289	0	0	107	0	0	0	98	-6	265	-135	-153	155	-68	115	187	422	336	140	40	0	0	0	0	0	0	0	0
Sale Purchase Of Stock	0	0	0	0	192,972	0	0	0	-1,440	0	0	0	0	0	0	0	-38,116	0	-59,417	0	0	0	0	0	-339	1,522	339	-470	-128	713	713	-213	1,841	0	0	-275	-360	-1	0	-503	-300	0	-42	0	-100	0	0	-3	0	0	0	0	0	0	0	0
Stock Based Compensation	-76	524	1,263	-898	562	645	1,386	-634	513	307	1,552	-93	1,605	821	1,701	437	859	412	914	-15	483	639	1,090	421	228	-810	1,321	261	298	0	0	169	0	0	0	135	-586	140	816	139	140	70	115	114	207	116	119	109	0	0	0	0	0	0	0	0
Total Cash From Financing Activities	-31,854	-55,698	-51,584	-28,088	-37,099	54,481	22,618	137,799	391,733	165,727	29,928	307,934	-44,761	-48,835	162,164	-31,987	8,438	83,258	37,033	-1,188	101,324	7,586	3,869	4,964	85,001	-37,489	44,751	-9,677	47,351	74,416	54,206	59,422	115,594	98,901	83,034	31,889	14,563	26,950	38,869	-55,434	77,962	18,001	61,006	-54,506	60,718	4,955	5,220	67,356	127,993	0	0	0	98,657	0	0	0
Total Cash From Operating Activities	8,049	28,647	6,083	4,554	28,597	21,493	-749	2,609	13,209	21,123	19,648	11,528	15,300	11,172	3,699	6,626	10,568	10,852	4,580	2,793	6,676	7,789	4,157	5,400	6,253	5,372	6,732	10,358	1,885	13,322	7,291	806	20,016	14,872	7,655	2,860	2,427	6,890	4,193	2,591	4,150	6,462	7,771	4,812	-6,338	5,747	2,856	3,636	15,649	0	0	0	13,775	0	0	0
Total Cashflows From Investing Activities	0	0	8,133	63,581	7,679	-69,455	-78,594	-238,813	538,196	-192,162	-177,420	-168,614	40,726	41,441	-148,110	7,015	-26,620	-63,718	-40,062	16,928	-105,958	-34,063	-29,172	-57,690	-61,760	-60,429	-46,092	-27,033	-107,569	-27,033	-27,033	0	-128,405	0	0	0	-111,716	0	0	0	0	0	0	6,302	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	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31
Cost Of Revenue	0	0	0	7,612	4,721	6,969	3,949	3,487	3,769	3,648	3,694	3,991	4,931	5,356	0	0	0	-	0	0	0
Depreciation And Amortization	3,693	726	-1,838	-8,134	2,004	1,888	1,948	2,107	1,935	1,817	1,569	1,430	0	0	1,278	1,536	1,720	-	2,615	3,261	2,837
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0
Ebit	46,409	88,739	73,115	43,363	33,918	36,555	31,761	28,807	25,939	24,278	23,231	22,908	0	0	24,364	25,325	21,470	16,511	15,700	12,587	10,643
Ebitda	46,409	89,465	71,277	35,229	35,922	38,443	33,709	30,914	27,874	26,095	24,800	24,338	0	0	25,642	26,861	23,190	16,511	18,315	15,848	13,480
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0
Extraordinary Items	0	0	0	0	0	0	-3,870	0	0	0	0	0	0	0	0	0	0	-	0	0	0
Gross Profit	218,534	186,224	172,305	152,146	110,376	96,577	87,828	82,334	77,512	72,737	68,648	66,364	60,879	58,235	51,184	47,655	46,314	44,785	47,811	43,870	43,042
Income Before Tax	46,409	71,961	73,115	43,363	33,918	31,088	28,174	25,452	23,245	22,180	21,037	19,717	18,194	19,633	13,917	13,372	12,883	11,947	12,864	8,850	8,981
Income Tax Expense	12,300	19,052	19,091	11,404	8,661	7,207	13,358	8,556	7,551	7,236	6,897	6,314	5,717	6,379	4,304	4,129	4,203	4,224	4,680	2,747	2,434
Interest Expense	97,728	16,778	5,533	9,145	17,643	5,467	3,587	3,355	2,694	2,098	2,194	3,191	0	0	10,447	11,953	8,587	4,564	2,836	3,737	5,795
Interest Income	210,338	159,706	133,468	129,047	95,949	68,768	60,946	56,849	54,341	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
Net Income	34,109	52,909	54,024	31,959	25,257	23,881	14,816	16,896	15,694	14,944	14,140	13,403	12,477	13,254	9,613	9,243	8,680	7,723	8,184	6,103	2,414
Net Income Applicable To Common Shares	0	52,909	54,024	31,912	25,047	23,642	14,659	16,714	15,694	14,944	14,140	13,403	12,477	13,254	0	0	0	-	0	0	0
Net Income From Continuing Ops	37,394	52,909	54,024	31,959	25,257	23,881	14,816	16,896	15,694	14,944	0	0	0	0	0	0	0	-	0	0	0
Net Interest Income	132,753	142,928	127,935	119,902	78,306	63,301	57,359	53,494	51,647	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
Non Recurring	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0
Operating Income	46,409	88,739	73,115	43,363	33,918	36,555	31,761	28,807	25,939	24,278	23,231	22,908	26,999	26,194	24,364	25,325	21,470	16,511	15,700	12,587	10,643
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0
Other Operating Expenses	7,180	3,059	-99,190	-116,395	81,179	60,022	1,620	53,527	51,573	48,459	45,417	43,456	0	0	26,820	22,330	24,844	28,274	32,111	31,283	32,399
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
Reconciled Depreciation	1,193	804	-1,838	-8,134	828	1,888	1,948	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
Selling And Marketing Expenses	1,773	2,301	2,536	1,818	1,760	2,229	1,620	1,706	2,380	2,117	1,822	1,842	0	0	1,421	1,137	0	-	812	600	372
Selling General Administrative	76,202	71,954	66,445	59,967	47,785	41,786	37,336	37,682	34,245	31,090	30,207	30,878	32,439	30,587	21,004	22,032	19,151	-	17,638	18,031	17,685
Tax Provision	13,298	19,052	19,091	11,404	8,661	7,207	13,358	8,556	7,551	0	0	0	0	0	0	0	0	-	0	0	0
Total Operating Expenses	7,180	3,059	-99,190	-116,395	-81,179	-60,022	1,620	-53,527	-51,573	-48,459	-45,417	-43,456	0	0	-26,820	-22,330	-24,844	-28,274	-32,111	-31,283	-32,399
Total Other Income Expense Net	46,409	-16,778	73,115	-76,585	-55,940	-5,467	-3,587	-3,355	-2,694	-2,098	-2,194	-3,191	0	0	-10,447	-11,953	-8,587	-4,564	-2,836	-3,737	-1,662
Total Revenue	218,534	186,224	172,305	159,758	115,097	96,577	87,828	82,334	77,512	72,737	68,648	66,364	65,810	63,591	51,184	47,655	46,314	44,785	47,811	43,870	43,042

	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	2009-06-30	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
Cost Of Revenue	0	0	-14,354	0	0	0	0	0	0	0	0	0	-1	1,168	4,366	253	0	0	0	0	2,690	1,888	1,003	1,388	972	1,344	891	742	557	908	1,022	1,000	860	852	1,191	866	1,135	956	666	891	1,033	1,125	713	823	811	887	1,126	1,167	1,219	1,214	1,210	1,288	1,183	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation And Amortization	289	265	401	-238	-52	-469	-216	52	67	-59	-1,083	-763	-2,311	-3,786	-2,115	78	601	522	488	393	434	535	455	464	478	471	508	491	553	0	0	502	0	0	0	424	435	460	461	461	406	396	381	386	369	346	362	353	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Ebit	10,828	9,087	33,347	34,307	24,109	24,231	21,347	19,789	19,770	19,159	20,062	19,657	19,667	20,369	-514	12,988	14,269	15,062	10,259	10,795	8,866	10,195	9,094	8,400	8,305	8,738	7,694	7,024	7,552	6,859	6,066	6,663	5,710	6,450	5,551	6,075	6,257	6,404	5,877	5,740	5,952	6,008	5,666	5,605	5,226	6,116	5,920	5,646	0	0	0	0	0	0	0	0	3,447	2,799	3,170	3,814	3,643	3,290	3,106	3,574	3,459	3,233	3,157	3,421	3,044	3,261	3,240	3,466	2,597	2,644	4,126	3,250	2,759	2,729	2,544	2,283	2,202	1,821
Ebitda	11,117	9,352	33,748	34,069	24,057	23,762	21,131	19,841	19,837	19,100	18,979	18,894	17,356	16,583	-2,629	13,066	14,870	15,584	10,747	11,188	9,300	10,730	9,549	8,864	8,783	9,209	8,202	7,515	8,105	7,654	6,938	7,165	6,570	7,177	6,117	6,499	6,692	6,864	6,338	6,201	6,358	6,404	6,047	5,991	5,595	6,462	6,282	5,999	0	0	0	0	0	0	0	0	5,316	4,908	5,539	6,320	6,210	6,295	6,447	6,734	6,256	5,888	5,722	5,824	5,039	4,885	4,741	4,621	3,686	3,463	4,881	3,979	3,461	3,379	3,414	3,208	3,159	2,806
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	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
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	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gross Profit	56,950	55,698	39,790	51,742	50,950	46,721	45,330	43,223	43,227	43,536	43,287	42,255	44,883	44,727	33,395	30,965	31,541	31,417	27,921	24,218	24,448	25,100	23,698	23,331	22,349	22,616	21,575	21,288	21,178	21,135	20,217	19,804	19,691	19,690	19,264	18,867	18,364	18,604	17,903	17,866	17,756	17,429	16,612	16,851	16,832	16,823	16,367	16,342	60,879	0	0	0	58,235	0	0	0	13,718	12,661	12,714	13,475	12,807	12,188	11,971	12,302	11,884	11,498	11,316	11,703	11,494	11,801	9,065	12,467	11,803	11,450	12,851	12,019	11,565	11,376	11,149	11,137	11,061	10,523
Income Before Tax	11,117	9,352	9,365	16,575	15,400	19,768	19,033	17,760	18,032	17,926	18,915	18,242	17,876	18,450	-2,256	9,293	9,782	10,384	5,812	7,938	6,891	8,764	8,012	7,421	7,335	7,704	6,823	6,312	6,789	6,859	6,066	5,738	5,710	6,450	5,551	5,534	5,722	5,873	5,361	5,224	5,419	5,483	5,153	4,982	4,515	5,379	5,044	4,779	4,133	4,802	4,718	4,541	19,633	0	0	0	3,447	2,799	3,170	3,814	3,643	3,290	3,106	3,574	3,459	3,233	3,157	3,421	3,044	3,261	3,240	3,466	2,597	2,644	4,126	3,250	2,759	2,729	2,544	2,283	2,202	1,821
Income Tax Expense	3,083	2,808	2,250	4,159	4,081	5,152	5,375	4,444	4,770	4,607	4,971	4,743	4,862	5,021	-540	2,061	2,673	2,708	1,540	1,740	1,585	2,105	1,901	1,616	6,371	2,694	2,309	1,984	2,366	2,284	2,046	1,860	1,840	2,095	1,815	1,801	1,856	1,947	1,720	1,713	1,780	1,788	1,678	1,651	1,512	1,715	1,593	1,494	1,223	1,516	1,542	1,436	1,294	1,423	2,305	1,357	968	793	930	1,283	1,112	979	868	1,147	1,125	989	1,032	1,108	960	1,103	1,117	1,269	905	933	1,560	1,170	995	955	823	731	681	512
Interest Expense	28,800	27,051	24,383	17,494	8,657	3,994	2,098	2,029	1,738	1,233	1,147	1,415	1,789	1,919	1,742	3,695	4,807	5,285	4,694	2,857	1,975	1,431	1,082	979	970	1,034	871	712	763	795	872	925	860	727	566	541	535	531	516	516	533	525	513	623	711	737	876	867	3,931	0	0	0	4,806	0	0	0	1,869	2,109	2,369	2,506	2,567	3,005	3,341	3,160	2,797	2,655	2,565	2,403	1,995	1,624	1,501	1,155	1,089	819	755	729	702	650	870	925	957	985
Interest Income	56,646	55,444	53,804	51,670	49,420	40,166	36,247	33,873	33,484	33,647	33,516	32,821	35,819	36,754	30,479	25,994	26,306	26,212	24,389	19,042	0	0	0	0	0	0	0	0	0	0	0	0	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	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income	8,034	6,544	7,115	12,416	11,319	14,543	13,615	13,316	13,262	13,319	13,944	13,499	13,014	13,429	-1,716	7,232	7,109	7,676	4,272	6,198	5,306	6,659	6,111	5,805	964	5,010	4,514	4,328	4,423	4,575	4,020	3,878	3,870	4,355	3,736	3,733	3,866	3,926	3,641	3,511	3,639	3,695	3,475	3,331	3,003	3,664	3,451	3,285	2,910	3,286	3,176	3,105	2,654	3,176	4,678	2,746	2,479	2,006	2,240	2,531	2,531	2,311	2,238	2,427	2,334	2,244	2,125	2,313	2,084	2,158	2,123	2,197	1,692	1,711	2,566	2,080	1,764	1,774	1,721	1,552	1,521	1,309
Net Income Applicable To Common Shares	0	0	7,115	12,416	11,319	14,542	13,658	13,316	13,262	13,319	13,877	13,442	12,982	13,429	-1,715	7,216	7,057	7,619	10,371	6,198	5,256	6,659	6,111	5,805	964	5,010	4,514	4,328	4,423	4,575	4,020	3,878	3,870	4,355	3,736	3,733	3,866	3,926	3,641	3,511	3,639	3,695	3,475	3,331	3,003	3,664	3,451	3,285	2,910	3,286	3,176	3,105	2,654	3,176	4,678	2,746	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income From Continuing Ops	8,034	6,544	7,115	12,416	11,319	14,616	13,658	13,316	13,262	13,319	13,944	13,499	13,014	13,429	-1,716	7,232	7,111	7,676	4,272	6,198	5,306	6,659	6,111	5,805	-15,418	5,010	-21,454	4,328	-6,359	38,625	-19,248	3,878	15,694	0	0	0	14,944	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Interest Income	27,846	28,393	29,421	34,176	40,763	36,172	34,149	31,844	31,746	32,414	32,369	31,406	34,030	34,835	28,737	22,299	21,499	20,927	19,695	16,185	0	0	0	0	0	0	0	0	0	0	0	0	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	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non Recurring	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Income	11,117	9,352	33,748	34,069	24,109	23,762	21,131	19,789	19,770	19,159	20,062	19,657	19,667	20,369	-514	12,988	14,269	15,062	10,259	10,795	8,866	10,195	9,094	8,400	8,305	8,738	7,694	7,024	7,552	7,654	6,938	6,663	6,570	7,177	6,117	6,075	6,257	6,404	5,877	5,740	5,952	6,008	5,666	5,605	5,226	6,116	5,920	5,646	6,143	6,981	13,875	0	26,194	0	0	0	5,316	4,908	5,539	6,320	6,210	6,295	6,447	6,734	6,256	5,888	5,722	5,824	5,039	4,885	4,741	4,621	3,686	3,463	4,881	3,979	3,461	3,379	3,414	3,208	3,159	2,806
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	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	698	2,567	3,491	426	3,059	731	246	224	2,536	787	953	463	7,611	1,588	4,852	509	4,721	263	508	404	2,229	595	336	438	1,620	355	13,881	14,264	13,626	13,481	13,279	13,141	13,121	12,513	13,147	12,792	12,107	12,200	12,026	12,126	11,804	11,421	10,946	11,246	11,606	10,707	10,447	10,696	0	0	0	0	0	0	0	0	8,402	7,753	7,175	7,155	6,597	5,893	5,524	5,568	5,628	5,610	5,594	5,879	6,455	6,916	4,324	7,846	8,117	7,987	7,970	8,040	8,104	7,997	7,735	7,929	7,902	7,717
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Reconciled Depreciation	289	0	0	0	726	469	216	52	67	-59	-1,083	-763	-2,311	-3,786	-2,115	78	279	-85	241	393	434	535	455	464	478	471	508	491	553	0	0	502	0	0	0	424	435	460	461	461	406	396	381	386	369	346	362	353	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	0	0	0	0	0	0	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	154	535	658	426	1,128	731	218	224	512	608	953	463	655	420	486	256	585	263	508	404	860	595	336	438	522	355	473	270	318	463	0	463	0	0	0	588	531	528	529	529	427	465	465	465	487	480	437	438	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	812	-	-	-	600	-	-	-
Selling General Administrative	17,980	18,042	17,752	18,867	18,794	17,794	17,520	17,846	16,631	16,709	16,723	16,381	16,855	16,057	13,860	13,195	13,063	12,158	11,737	10,827	10,507	10,477	10,578	10,224	9,659	9,220	9,021	9,373	12,903	10,075	10,820	8,618	10,260	9,771	9,920	7,980	9,359	7,184	7,260	7,287	9,788	6,767	6,702	6,950	10,205	6,987	6,810	6,876	8,792	8,027	7,891	7,729	30,587	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,575	4,779	4,692	4,058	4,542	4,535	4,503	4,274	4,548	4,577	4,632
Tax Provision	3,083	2,808	2,250	4,159	4,081	5,152	5,375	4,444	4,770	4,607	4,971	4,743	4,862	5,021	-540	2,061	2,673	2,708	1,540	1,740	0	0	0	0	0	0	0	0	0	0	0	0	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	698	2,567	3,491	426	3,059	731	246	224	2,536	787	953	463	7,612	420	486	256	4,721	263	508	404	2,229	595	336	438	1,620	355	-13,881	-14,264	-13,626	-13,481	-13,279	-13,141	-13,121	-12,513	-13,147	-12,792	-12,107	-12,200	-12,026	-12,126	-11,804	-11,421	-10,946	-11,246	-11,606	-10,707	-10,447	-10,696	0	0	0	0	0	0	0	0	-8,402	-7,753	-7,175	-7,155	-6,597	-5,893	-5,524	-5,568	-5,628	-5,610	-5,594	-5,879	-6,455	-6,916	-4,324	-7,846	-8,117	-7,987	-7,970	-8,040	-8,104	-7,997	-7,735	-7,929	-7,902	-7,717
Total Other Income Expense Net	11,117	9,352	-24,383	-17,494	-8,709	-3,994	-2,098	-2,029	-1,738	-1,233	-1,147	-1,415	-1,790	-1,919	-1,742	-3,695	-4,485	-4,678	-4,447	-2,857	-1,975	-1,431	-1,082	-979	-970	-1,034	-871	-712	-763	-795	-872	-925	-860	-727	-566	-541	-535	-531	-516	-516	-533	-525	-513	-623	-711	-737	-876	-867	0	0	0	0	0	0	0	0	-1,869	-2,109	-2,369	-2,506	-2,567	-3,005	-3,341	-3,160	-2,797	-2,655	-2,565	-2,403	-1,995	-1,624	-1,501	-1,155	-1,089	-819	-755	-729	-702	-650	-870	-925	-957	-985
Total Revenue	56,950	55,698	39,790	51,742	50,950	46,721	45,330	43,223	43,227	43,536	43,287	42,255	44,883	45,895	37,761	31,218	31,541	31,417	27,921	24,218	24,448	25,100	23,698	23,331	22,349	22,616	21,575	21,288	21,178	21,135	20,217	19,804	19,691	19,690	19,264	18,867	18,364	18,604	17,903	17,866	17,756	17,429	16,612	16,851	16,832	16,823	16,367	16,342	65,810	0	0	0	63,591	0	0	0	13,718	12,661	12,714	13,475	12,807	12,188	11,971	12,302	11,884	11,498	11,316	11,703	11,494	11,801	9,065	12,467	11,803	11,450	12,851	12,019	11,565	11,376	11,149	11,137	11,061	10,523

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

Gross Profit (+$)
totalRevenue	218,534
Cost of Revenue	-0
Gross Profit	218,534	218,534

Operating Income (+$)
Gross Profit	218,534
Operating Expense	-7,180
Operating Income	46,409	211,354

Operating Expense (+$)
Research Development	0
Selling General Administrative	76,202
Selling And Marketing Expenses	1,773
Operating Expense	7,180	77,975

Net Interest Income (+$)
Interest Income	210,338
Interest Expense	-97,728
Other Finance Cost	-20,143
Net Interest Income	132,753

Pretax Income (+$)
Operating Income	46,409
Net Interest Income	132,753
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	46,409	0 EBIT - interestExpense = -51,319 46,409 131,837
Interest Expense	97,728
Earnings Before Interest and Taxes (EBIT)	46,409	144,137
Earnings Before Interest and Taxes (EBITDA)	46,409

After tax Income (+$)
Income Before Tax	46,409
Tax Provision	-13,298
Net Income From Continuing Ops	37,394	33,111
Net Income	34,109
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	7,180
Total Other Income/Expenses Net	46,409	-132,753

Technical Analysis of Cambridge 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 Cambridge Bancorp. The general trend of Cambridge Bancorp is BEARISH with 14.3% 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 Cambridge 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 (-14.3%)		Bearish trend (14.3%)
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 Cambridge Bancorp.

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

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

The bullish price targets are: 65.91 < 68.20 < 70.10.

The bearish price targets are: 60.88 > 60.57 > 57.41.

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Cambridge 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 Cambridge Bancorp. The current mas is .

The long score for the Moving Averages is 6/14.
The longshort score for the Moving Averages is -2/(-14 +14).

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

Cambridge 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 Cambridge Bancorp. The current macd is -0.91816815.

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 Cambridge 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 Cambridge 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 Cambridge 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

Cambridge 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 Cambridge Bancorp. The current adx is 15.78.

The long score for the Directional Movement Index (DMI) is 0/7.
The longshort score for the Directional Movement Index (DMI) is -1/(-7 +7).

PLUS_ID < MINUS_DI: The +DI line is below the -DI line. This indicates a bearish signal in the market, as the negative directional movement is currently stronger than the positive directional movement, showing that sellers have the upper hand. Market psychology suggests that traders are pessimistic, expecting further price decreases, and are more willing to sell Cambridge Bancorp shares, leading to potential downward momentum in its price. -1
PLUS_ID < MINUS_DI && ADX < 25 && ADX trending down: The ADX is below 25 and indicates a weak or no trend. Also, the ADX is declining so there is no trend indication.

Cambridge 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 Cambridge Bancorp. The current sar is 64.84.

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

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

Cambridge 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 Cambridge Bancorp. The current rsi is 47.82. The current phase is Continuation in bear market.

The long score for the Relative Strength Index (RSI) is 0/13.
The longshort score for the Relative Strength Index (RSI) is -4/(-13 +13).

Continuation in bear market: Downtrend continues after a consolidation or pullback. Hold or add to short positions.
Trending down: The RSI is trending down. -1

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

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

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

Original usage

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

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

How you can use RSI (Divergence)

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

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

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

Source: Tradingview.com

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

Use tradingview to add indicators

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

Tradingview

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

View tool on Tradingview.com

RSI divergence

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

There are four types of divergences:

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

Regular bullish divergence

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

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

Source: Tradingview.com

Regular bearish divergence

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

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

Source: Tradingview.com

Hidden bullish divergence

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

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

Source: Tradingview.com

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

Hidden bearish divergence

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

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

Source: Tradingview.com

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

Cambridge 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 Cambridge Bancorp. The current phase is Correction in bear market.

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

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

Cambridge 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 Cambridge Bancorp. The current cci is -15.35812738.

Cambridge 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 Cambridge Bancorp. The current cmo is -0.3261761.

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

CMO < 0: The CMO is below 0, the momentum of the price is negative, indicating a potential downtrend in the price. -1

Cambridge 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 Cambridge Bancorp. The current willr is -49.96028594.

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

Cambridge Bancorp Daily Williams %R Chart

4. Volatility Indicators

4.1 Bollinger Bands

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

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

Score

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

Cambridge 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 Cambridge Bancorp. The current atr is 1.80105705.

Cambridge 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 Cambridge Bancorp. The current obv is 859,573.

Cambridge 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 Cambridge Bancorp. The current mfi is 42.09.

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

MFI < 50: -1

Cambridge Bancorp Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for Cambridge 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
2023-11-29	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.
2023-11-30	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-01	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-05	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-07	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2023-12-08	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-13	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-14	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-15	STOCH	LONG EXIT		The %K line crosses below the %D line.
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2023-12-21	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2023-12-22	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-27	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-29	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-01-03	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-04	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-05	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-08	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.
2024-01-12	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-16	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-01-17	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-19	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-01-22	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 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.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-25	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-29	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-01-31	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-01	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
2024-02-06	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-02-07	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-02-09	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-02-12	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-02-13	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-15	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.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-16	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-20	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
2024-02-21	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-02-22	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-02-27	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-28	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-29	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-04	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-05	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-06	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-03-07	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.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2024-03-11	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
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	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-03-14	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).
2024-03-15	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	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.
2024-03-20	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-21	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-03-22	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-26	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
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
	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).
2024-04-02	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
2024-04-03	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
2024-04-05	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-08	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-04-09	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-04-10	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	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).
2024-04-16	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-17	STOCH	LONG EXIT		The %K line crosses below the %D line.
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
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).
2024-04-22	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside

6.3. Candlestick Patterns

Cambridge Bancorp Daily Candlestick Chart

Date	Candlestick Pattern

6.4. Technical Score

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

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	47.824
Ma 20	Greater than	Ma 50	63.589
Ma 50	Greater than	Ma 100	64.305
Ma 100	Greater than	Ma 200	65.453
Open	Greater than	Close	62.850
Total			2/5 (40.0%)

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1. Valuation of Cambridge Bancorp (5 min.)

$62.76

$68.07

$-5.64 - $69.47

$62.42 - $137.54

2. Growth of Cambridge Bancorp (5 min.)

Is Cambridge Bancorp growing?

How much money is Cambridge Bancorp making?

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

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

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

Speculation

Investing

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Linear %

Fundamentals of Cambridge Bancorp

About Cambridge Bancorp

Financial Health

Valuation

1.1. Profitability of Cambridge 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 Cambridge Bancorp.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

1.2.2. Operating Ratio

Trends

1.3. Liquidity of Cambridge 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 Cambridge 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 Cambridge Bancorp

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Banks - Regional)

Cambridge Bancorp
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