Chemung Financial Corp
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Penke I guess you are interested in Chemung Financial Corp. 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 Chemung Financial Corp. 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 Chemung Financial Corp (30 sec.)

What can you expect buying and holding a share of Chemung Financial Corp? (30 sec.)

How much money do you get?

$1.23

When do you have the money?

1 year

How often do you get paid?

100.0%

What is your share worth?

Current worth

$41.10

Expected worth in 1 year

$47.17

How sure are you?

75.0%

+ What do you gain per year?

Total Gains per Share

$7.30

Return On Investment

16.7%

For what price can you sell your share?

Current Price per Share

$43.80

Expected price per share

$42.29 - $48.22

How sure are you?

50%

1. Valuation of Chemung Financial Corp (5 min.)

Live pricePrice per Share (EOD)

$43.80

Book Value per Share

$41.10

Intrinsic Value Per Share

$-8.62 - $51.48

Total Value Per Share

$32.47 - $92.58

My calculation of the intrinsic value of Chemung Financial Corp 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: ($1.31) 3Y: ($1.76) TTM: ($1.60)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($-0.01) 3Y: ($-0.09) TTM: ($0.06)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$4.23	$6.76	$3.87 - $6.81
2	$6.98	$13.12	$2.49 - $6.59
3	$8.38	$19.10	$1.11 - $6.38
4	$8.59	$24.71	$-0.26 - $6.16
5	$7.74	$29.96	$-1.64 - $5.94
6	$5.94	$34.88	$-3.01 - $5.73
7	$3.31	$39.48	$-4.39 - $5.51
8	$-0.05	$43.77	$-5.77 - $5.29
9	$-4.06	$47.76	$-7.14 - $5.08
10	$-8.62	$51.48	$-8.52 - $4.86

2. Growth of Chemung Financial Corp (5 min.)

Is Chemung Financial Corp growing?

	Current year	Previous year	Grow	Grow %
How rich?	$195.2m	$170.5m	$9.4m	5.3%

How much money is Chemung Financial Corp making?

	Current year	Previous year	Grow	Grow %
Making money	$6.2m	$7.1m	-$945.7k	-15.1%
Net Profit Margin	24.0%	30.5%	-	-

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

Quarterly Yearly

3. Financial Health of Chemung Financial Corp (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 Chemung Financial Corp? (5 min.)

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

What can you expect buying and holding a share of Chemung Financial Corp?

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

Speculation

The Price per Share of Chemung Financial Corp is $43.80. 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 Chemung Financial Corp.
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 Chemung Financial Corp, 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 $41.10. Based on the TTM, the Book Value Change Per Share is $1.52 per quarter. Based on the YOY, the Book Value Change Per Share is $-2.37 per quarter.
You may receive quarterly/yearly dividend in the form of additional shares.
You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is $0.31 per quarter.

Based on historical numbers we can estimate the returns while holding a share of Chemung Financial Corp.

How much money are you going to get?

	MRQ		TTM		YOY		5Y		10Y
	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share
Usd Eps	0.80	1.8%	1.32	3.0%	1.51	3.5%	1.20	2.8%	0.89	2.0%
Usd Book Value Change Per Share	5.30	12.1%	1.52	3.5%	-2.37	-5.4%	0.35	0.8%	0.30	0.7%
Usd Dividend Per Share	0.31	0.7%	0.31	0.7%	0.31	0.7%	0.28	0.6%	0.27	0.6%
Usd Total Gains Per Share	5.61	12.8%	1.83	4.2%	-2.07	-4.7%	0.63	1.4%	0.57	1.3%
Usd Price Per Share	49.80	-	42.33	-	45.36	-	41.58	-	38.28	-
Price to Earnings Ratio	15.56	-	8.94	-	7.52	-	9.82	-	8.08	-
Price-to-Total Gains Ratio	8.88	-	27.76	-	-6.60	-	23.69	-	-46.84	-
Price to Book Ratio	1.21	-	1.11	-	1.27	-	1.08	-	1.11	-
Price-to-Total Gains Ratio	8.88	-	27.76	-	-6.60	-	23.69	-	-46.84	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	43.8
Number of shares	22

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.31	0.28
Usd Book Value Change Per Share	1.52	0.35
Usd Total Gains Per Share	1.83	0.63
Gains per Quarter (22 shares)	40.17	13.93
Gains per Year (22 shares)	160.66	55.72

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	27	134	151	25	31	46
2	54	267	312	50	62	102
3	81	401	473	74	93	158
4	108	534	634	99	124	214
5	135	668	795	124	154	270
6	162	802	956	149	185	326
7	189	935	1117	174	216	382
8	216	1069	1278	199	247	438
9	243	1203	1439	223	278	494
10	270	1336	1600	248	309	550

How sure are you?

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

Linear %

	Trailing 12 Months				3Y				5 Year				10 Year				ALLTIME
				%				%				%				%				%
Earnings Per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	20.0	0.0	0.0	100.0%	38.0	2.0	0.0	95.0%	94.0	2.0	0.0	97.9%
Book Value Change Per Share	3.0	1.0	0.0	75.0%	7.0	5.0	0.0	58.3%	15.0	5.0	0.0	75.0%	30.0	10.0	0.0	75.0%	70.0	26.0	0.0	72.9%
Dividend per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	20.0	0.0	0.0	100.0%	40.0	0.0	0.0	100.0%	96.0	0.0	0.0	100.0%
Total Gains per Share	3.0	1.0	0.0	75.0%	7.0	5.0	0.0	58.3%	15.0	5.0	0.0	75.0%	30.0	10.0	0.0	75.0%	76.0	20.0	0.0	79.2%

Fundamentals of Chemung Financial Corp

About Chemung Financial Corp

https://www.chemungcanal.com
Banks - Regional
339
One Chemung Canal Plaza, Elmira, NY, United States, 14901
Google Maps Bing Maps

Chemung Financial Corporation operates as a bank holding company for Chemung Canal Trust Company that provides a range of banking, financing, fiduciary, and other financial services. The company provides demand, savings, and time deposits; non-interest and interest-bearing checking accounts; and insured money market accounts. It also offers commercial and agricultural loans comprising loans to small to mid-sized businesses; commercial and residential mortgage loans; and consumer loans, including home equity lines of credit and home equity term loans. In addition, the company provides interest rate swaps, letters of credit, employee benefit plans, insurance products, mutual fund, brokerage, and tax preparation services. Further, it offers guardian, custodian, trustee, investment, pension, estate planning, and employee benefit administrative services, as well as acts as an agent for pension, profit-sharing, and other employee benefit trusts. Chemung Financial Corporation was founded in 1833 and is headquartered in Elmira, New York.

Fundamental data was last updated by Penke on 2024-04-11 04:10:04.

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.
The company is very efficient in keeping operating costs low.

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

1.1. Profitability of Chemung Financial Corp.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit Chemung Financial Corp earns for each $1 of revenue.

Above 10% is considered healthy but always compare Chemung Financial Corp to the Banks - Regional industry mean.
A Net Profit Margin of 10.6% means that $0.11 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Chemung Financial Corp:

The MRQ is 10.6%. The company is making a huge profit. +2
The TTM is 24.0%. The company is making a huge profit. +2

Trends

Current period		Compared to		+/-
MRQ	10.6%	TTM	24.0%	-13.3%
TTM	24.0%	YOY	30.5%	-6.5%
TTM	24.0%	5Y	25.4%	-1.4%
5Y	25.4%	10Y	20.7%	+4.7%

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	10.6%	18.4%	-7.8%
TTM	24.0%	28.0%	-4.0%
YOY	30.5%	25.2%	+5.3%
5Y	25.4%	22.8%	+2.6%
10Y	20.7%	19.8%	+0.9%

Measures how much net profit Chemung Financial Corp earns for each $1 of revenue.

Revenue is the amount of profit Chemung Financial Corp 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 Chemung Financial Corp 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 Chemung Financial Corp 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, Chemung Financial Corp makes more profit. This shows the investor how efficiently Chemung Financial Corp is operating in general and compared to other companies in the same industry. Chemung Financial Corp operates in the Banks - Regional industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of Chemung Financial Corp. 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 Chemung Financial Corp is 0.11. This means that Chemung Financial Corp earned $0.11 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 Chemung Financial Corp is performing over time. The most recent quarter might be important if Chemung Financial Corp 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 Chemung Financial Corp 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 Chemung Financial Corp with other companies in the same industry (Banks - Regional).
Net profit margin should rise over the years.
Can be influenced when Chemung Financial Corp sells assets (profit will increase while costs remain the same).
It won’t show what part of Chemung Financial Corp 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 Chemung Financial Corp

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 Chemung Financial Corp = 3,802
Total revenue MRQ Chemung Financial Corp = 35,702
$3,802 / $35,702 = 0.11 or 10.6%

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 Chemung Financial Corp is using its assets to generate profit.

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

Let's take a look of the Return on Assets trends of Chemung Financial Corp:

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%	-0.1%
TTM	0.2%	YOY	0.3%	-0.1%
TTM	0.2%	5Y	0.2%	0.0%
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 Chemung Financial Corp 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 Chemung Financial Corp 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 Chemung Financial Corp is using its resources to generate profit. If the return on assets (0.1%) from Chemung Financial Corp are higher than the Banks - Regional mean (0.1%) that means Chemung Financial Corp 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 Chemung Financial Corp 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 Chemung Financial Corp is performing over time. The most recent quarter might be important if Chemung Financial Corp 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 Chemung Financial Corp 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 Chemung Financial Corp

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

Income statement
Balance sheet

Net income MRQ (income statement) from Chemung Financial Corp = 3,802
Total assets MRQ (balance sheet) from Chemung Financial Corp = 2,710,529
3,802 / 2,710,529 = 0.00 or 0.1%

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

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

Let's take a look of the Return on Equity trends of Chemung Financial Corp:

The MRQ is 1.9%. Using its investors money, the company is inefficient in making profit. -1
The TTM is 3.5%. Using its investors money, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	1.9%	TTM	3.5%	-1.6%
TTM	3.5%	YOY	4.2%	-0.7%
TTM	3.5%	5Y	3.1%	+0.4%
5Y	3.1%	10Y	2.6%	+0.5%

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	1.9%	1.4%	+0.5%
TTM	3.5%	2.5%	+1.0%
YOY	4.2%	2.7%	+1.5%
5Y	3.1%	2.5%	+0.6%
10Y	2.6%	2.8%	-0.2%

Shows how efficient Chemung Financial Corp 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 Chemung Financial Corp 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 Chemung Financial Corp is 1.9%. This means Chemung Financial Corp 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 Chemung Financial Corp is performing over time. The most recent quarter might be important if Chemung Financial Corp 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 Chemung Financial Corp up to 10 years back (depending if Chemung Financial Corp 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 Chemung Financial Corp

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Chemung Financial Corp = 3,802
Shareholders equity (balance sheet) MRQ Chemung Financial Corp = 195,241
3,802 / 195,241 = 0.02 or 1.9%

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

1.2. Operating Efficiency of Chemung Financial Corp.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Chemung Financial Corp is operating .

Measures how much profit Chemung Financial Corp 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 Chemung Financial Corp to the Banks - Regional industry mean.
An Operating Margin of 11.1% means the company generated $0.11 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Chemung Financial Corp:

The MRQ is 11.1%. The company is operating less efficient.
The TTM is 43.6%. The company is operating very efficient. +2

Trends

Current period		Compared to		+/-
MRQ	11.1%	TTM	43.6%	-32.5%
TTM	43.6%	YOY	46.4%	-2.9%
TTM	43.6%	5Y	41.3%	+2.3%
5Y	41.3%	10Y	35.8%	+5.5%

Measures how efficient Chemung Financial Corp 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 Chemung Financial Corp 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 Chemung Financial Corp 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 Chemung Financial Corp is 11.1%. This means that Chemung Financial Corp earned $0.11 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 Chemung Financial Corp is performing over time. The most recent quarter might be important if Chemung Financial Corp 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 Chemung Financial Corp 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 Chemung Financial Corp

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Chemung Financial Corp = 4,643
Total revenue MRQ Chemung Financial Corp = 35,702
$4,643 / $35,702 = 0.11 or 11.1%

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 Chemung Financial Corp is keeping operating costs low.

Below 1 is considered healthy (always compare to Banks - Regional industry mean).
An Operation Ratio of 0.34 means that the operating costs are $0.34 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Chemung Financial Corp:

The MRQ is 0.338. The company is very efficient in keeping operating costs low. +2
The TTM is 0.015. The company is very efficient in keeping operating costs low. +2

Trends

Current period		Compared to		+/-
MRQ	0.338	TTM	0.015	+0.322
TTM	0.015	YOY	0.015	0.000
TTM	0.015	5Y	0.015	0.000
5Y	0.015	10Y	0.135	-0.120

Measures how efficient Chemung Financial Corp 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 Chemung Financial Corp 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 Chemung Financial Corp is 33.8%. This means that Chemung Financial Corp earned $0.34 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 Chemung Financial Corp is performing over time. The most recent quarter might be important if Chemung Financial Corp 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 Chemung Financial Corp 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 Chemung Financial Corp

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
(5,669 +6,385) \ 35,702 = 0.34

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 Chemung Financial Corp.

1.3. Liquidity

1.3.1. Current Ratio

Measures if Chemung Financial Corp 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 Chemung Financial Corp:

The MRQ is 0.024. The company is unable to pay all its short-term debts. -2
The TTM is 4.107. The company is very able to pay all its short-term debts. +2

Trends

Current period		Compared to		+/-
MRQ	0.024	TTM	4.107	-4.082
TTM	4.107	YOY	13.139	-9.032
TTM	4.107	5Y	35.747	-31.640
5Y	35.747	10Y	51.445	-15.698

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
TTM	4.107	0.124	+3.983
YOY	13.139	0.225	+12.914
5Y	35.747	0.219	+35.528
10Y	51.445	0.131	+51.314

Measures if Chemung Financial Corp 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 Chemung Financial Corp 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 Chemung Financial Corp is 0.02. This means Chemung Financial Corp 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 Chemung Financial Corp is performing over time. The most recent quarter might be important if Chemung Financial Corp 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 Chemung Financial Corp 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 Chemung Financial Corp

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
44,973 \ 1,851,866) = 0.02

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

Above 1 is considered healthy but always compare Chemung Financial Corp to the Banks - Regional industry mean.
A Quick Ratio of 0.33 means the company can pay off $0.33 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Chemung Financial Corp:

The MRQ is 0.329. The company is just not able to pay all its short-term debts with the most liquid assets. -1
The TTM is 14.416. The company is very able to pay all its short-term debts with the most liquid assets. +2

Trends

Current period		Compared to		+/-
MRQ	0.329	TTM	14.416	-14.088
TTM	14.416	YOY	28.300	-13.883
TTM	14.416	5Y	33.139	-18.723
5Y	33.139	10Y	34.889	-1.750

Measures if Chemung Financial Corp 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 Chemung Financial Corp 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 Chemung Financial Corp can pay off its short term debts. This shows if Chemung Financial Corp 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 Chemung Financial Corp is 0.33. This means that Chemung Financial Corp can pay off $0.33 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 Chemung Financial Corp is performing over time. The most recent quarter might be important if Chemung Financial Corp 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 Chemung Financial Corp 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 Chemung Financial Corp

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 Chemung Financial Corp: (25,142 + 583,993 +0) / 1,851,866 = 0.33

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 Chemung Financial Corp.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of Chemung Financial Corp assets are financed with debt.

Below 1 (100%) is considered healthy but always compare Chemung Financial Corp to Banks - Regional industry mean.
A Debt to Asset Ratio of 0.93 means that Chemung Financial Corp assets are financed with 92.8% credit (debt) and the remaining percentage (100% - 92.8%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of Chemung Financial Corp:

The MRQ is 0.928. The company is just able to pay all its debts by selling its assets.
The TTM is 0.933. The company is just able to pay all its debts by selling its assets.

Trends

Current period		Compared to		+/-
MRQ	0.928	TTM	0.933	-0.005
TTM	0.933	YOY	0.932	+0.001
TTM	0.933	5Y	0.917	+0.016
5Y	0.917	10Y	0.914	+0.003

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	0.928	0.915	+0.013
TTM	0.933	0.917	+0.016
YOY	0.932	0.919	+0.013
5Y	0.917	0.919	-0.002
10Y	0.914	0.927	-0.013

Measures how much % of Chemung Financial Corp assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake Chemung Financial Corp than its shareholders.

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Chemung Financial Corp 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 Chemung Financial Corp is 0.93. This means means that Chemung Financial Corp is financed with 92.8% 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 Chemung Financial Corp is performing over time. The most recent quarter might be important if Chemung Financial Corp 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 Chemung Financial Corp 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 Chemung Financial Corp has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Chemung Financial Corp

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

Balance sheet
Debt to asset ratio = total debt \ total assets
2,515,288 \ 2,710,529 = 92.8% or 0.93.

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 Chemung Financial Corp is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare Chemung Financial Corp to the Banks - Regional industry mean.
A Debt to Equity ratio of 1,288.3% means that company has $12.88 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Chemung Financial Corp:

The MRQ is 12.883. The company is unable to pay all its debts with equity. -1
The TTM is 13.962. The company is unable to pay all its debts with equity. -1

Trends

Current period		Compared to		+/-
MRQ	12.883	TTM	13.962	-1.079
TTM	13.962	YOY	13.918	+0.044
TTM	13.962	5Y	11.465	+2.497
5Y	11.465	10Y	10.898	+0.567

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	12.883	10.829	+2.054
TTM	13.962	11.013	+2.949
YOY	13.918	11.363	+2.555
5Y	11.465	11.437	+0.028
10Y	10.898	13.038	-2.140

Measures if Chemung Financial Corp 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 Chemung Financial Corp 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 Chemung Financial Corp is 12.88. This means that Chemung Financial Corp can pay off $12.88 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 Chemung Financial Corp is performing over time. The most recent quarter might be important if Chemung Financial Corp 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 Chemung Financial Corp 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 Chemung Financial Corp

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
2,515,288 \ 195,241 = 12.88 or 1,288.3%

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 Chemung Financial Corp

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 Chemung Financial Corp generates.

Above 15 is considered overpriced but always compare Chemung Financial Corp to the Banks - Regional industry mean.
A PE ratio of 15.56 means the investor is paying $15.56 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Chemung Financial Corp:

The EOD is 13.682. Based on the earnings, the company is underpriced. +1
The MRQ is 15.557. Based on the earnings, the company is fair priced.
The TTM is 8.938. Based on the earnings, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	13.682	MRQ	15.557	-1.874
MRQ	15.557	TTM	8.938	+6.619
TTM	8.938	YOY	7.515	+1.423
TTM	8.938	5Y	9.824	-0.886
5Y	9.824	10Y	8.078	+1.746

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
EOD	13.682	7.498	+6.184
MRQ	15.557	6.680	+8.877
TTM	8.938	5.295	+3.643
YOY	7.515	6.943	+0.572
5Y	9.824	9.770	+0.054
10Y	8.078	9.943	-1.865

Measures how much money you pay for each share for every $1 in earnings Chemung Financial Corp 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 Chemung Financial Corp 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 Chemung Financial Corp is 15.56. This means the investor is paying $15.56 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 Chemung Financial Corp is performing over time. The most recent quarter might be important if Chemung Financial Corp 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 Chemung Financial Corp 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 Chemung Financial Corp

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 \ 4,743 = EPS
PE ratio MRQ = 15.56

* 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 Chemung Financial Corp:

The EOD is 14.466. Based on how much money comes from the company's main activities, the company is cheap. +2
The MRQ is 16.448. Based on how much money comes from the company's main activities, the company is underpriced. +1
The TTM is 8.175. Based on how much money comes from the company's main activities, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	14.466	MRQ	16.448	-1.982
MRQ	16.448	TTM	8.175	+8.273
TTM	8.175	YOY	10.078	-1.903
TTM	8.175	5Y	7.782	+0.393
5Y	7.782	10Y	10.099	-2.317

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
EOD	14.466	-2.096	+16.562
MRQ	16.448	-1.868	+18.316
TTM	8.175	-0.342	+8.517
YOY	10.078	6.448	+3.630
5Y	7.782	0.429	+7.353
10Y	10.099	0.091	+10.008

2. Book Value per Share

2.3. Price to Book Ratio

Measures if the stock price of Chemung Financial Corp 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 1.21 means the investor is paying $1.21 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Chemung Financial Corp:

The EOD is 1.066. Based on the equity, the company is underpriced. +1
The MRQ is 1.212. Based on the equity, the company is underpriced. +1
The TTM is 1.115. Based on the equity, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	1.066	MRQ	1.212	-0.146
MRQ	1.212	TTM	1.115	+0.097
TTM	1.115	YOY	1.266	-0.151
TTM	1.115	5Y	1.080	+0.034
5Y	1.080	10Y	1.111	-0.030

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
EOD	1.066	0.433	+0.633
MRQ	1.212	0.386	+0.826
TTM	1.115	0.470	+0.645
YOY	1.266	0.642	+0.624
5Y	1.080	0.795	+0.285
10Y	1.111	1.025	+0.086

2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of Chemung Financial Corp.

3.1. Institutions holding Chemung Financial Corp

Institutions are holding 39.688% of the shares of Chemung Financial Corp.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-09-30	Fourthstone LLC	9.4678	4.0462	450097	39892	9.7249
2023-12-31	Chemung Canal Trust Co	7.2528	3.549	344796	-7544	-2.1411
2023-12-31	BlackRock Inc	4.5868	0.0003	218055	36481	20.0915
2023-12-31	Vanguard Group Inc	3.8427	0.0002	182682	5541	3.128
2023-12-31	Dimensional Fund Advisors, Inc.	2.5812	0.0018	122709	1098	0.9029
2023-12-31	Geode Capital Management, LLC	1.4919	0.0004	70927	1334	1.9169
2023-12-31	First Manhattan Co. LLC	1.2027	0.0099	57178	2260	4.1152
2023-12-31	Bridgeway Capital Management, LLC	1.1755	0.0597	55881	1536	2.8264
2023-12-31	State Street Corporation	0.9307	0.0001	44244	-51	-0.1151
2023-12-31	AllianceBernstein L.P.	0.8024	0.0007	38145	-25651	-40.2079
2023-12-31	Renaissance Technologies Corp	0.6946	0.0025	33022	0	0
2023-12-31	Morgan Stanley - Brokerage Accounts	0.6945	0.0001	33016	4194	14.5514
2023-12-31	Royce & Associates, LP	0.6521	0.0143	31000	0	0
2023-12-31	Northern Trust Corp	0.5948	0.0003	28278	68	0.241
2023-12-31	Acadian Asset Management LLC	0.4848	0.0044	23046	0	0
2023-12-31	Forum Financial Management, LP	0.4007	0.0179	19048	0	0
2023-12-31	Empowered Funds, LLC	0.3646	0.0217	17333	1536	9.7234
2023-12-31	LSV Asset Management	0.3513	0.0018	16700	0	0
2023-12-31	Alesco Advisors LLC	0.278	0.0231	13214	0	0
2023-12-31	Bank of New York Mellon Corp	0.2669	0.0001	12687	1114	9.6259
Total		38.1168	7.7545	1812058	+61808	+3.4%

3.2. Funds holding Chemung Financial Corp

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2024-02-29	Vanguard Total Stock Mkt Idx Inv	2.3416	0.0003	110932	0	0
2024-02-29	iShares Russell 2000 ETF	2.0004	0.0065	94766	-15	-0.0158
2024-02-29	Vanguard Institutional Extnd Mkt Idx Tr	1.1155	0.0022	52844	0	0
2024-02-01	iShares Russell 2000 Value ETF	0.7241	0.0133	34303	44	0.1284
2023-12-31	Fidelity Small Cap Index	0.6596	0.0061	31250	221	0.7122
2023-12-31	Royce Micro Cap Trust	0.6544	0.2966	31000	0	0
2023-12-31	Bridgeway Omni Small-Cap Value N	0.4116	0.0758	19500	0	0
2023-12-31	Bridgeway Omni Small-Cap Value	0.4116	0.0756	19500	0	0
2024-01-31	DFA US Small Cap I	0.4027	0.006	19078	0	0
2024-01-31	Fidelity Extended Market Index	0.4018	0.0025	19034	177	0.9386
2024-02-29	EA Bridgeway Omni Small-Cap Value ETF	0.386	0.0674	18285	40	0.2192
2024-01-31	DFA US Targeted Value I	0.3791	0.0065	17960	756	4.3943
2023-12-31	Bridgeway Ultra-Small Company Market	0.325	0.4127	15398	-900	-5.5221
2024-02-29	Vanguard Russell 2000 ETF	0.27	0.0057	12791	1068	9.1103
2024-01-31	DFA US Micro Cap I	0.2585	0.0084	12247	0	0
2024-02-29	State St Russell Sm Cap® Indx SL Cl I	0.2301	0.0049	10900	0	0
2024-01-31	DFA US Core Equity 2 I	0.222	0.0015	10517	0	0
2024-02-29	Dimensional US Targeted Value ETF	0.2102	0.0045	9958	0	0
2023-12-31	NT R2000 Value Index Fund - NL	0.2034	0.0127	9634	-518	-5.1024
2023-12-31	NT R2000 Index Fund - NL	0.2019	0.0066	9566	-501	-4.9767
Total		11.8095	1.0158	559463	+372	+0.1%

3.3. Insider Transactions

Insiders are holding 18.435% of the shares of Chemung Financial Corp.

Date	Owner	Type	Amount	Price
2024-03-01	Raimundo C Archibold Jr	SELL	425	42.22
2024-02-20	Joseph F Iv Meade	BUY	84	48.11
2024-01-17	Joseph F Iv Meade	BUY	582	48.11
2023-07-24	Thomas W Wirth	SELL	907	40.86
2023-05-24	Jeffrey P Kenefick	BUY	817	34.76

4. Summary

4.1. Key Performance Indicators

The key performance indicators of Chemung Financial Corp 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	-	-	5.300	1.518	+249%	-2.372	+145%	0.351	+1409%	0.298	+1677%
Book Value Per Share	-	-	41.098	37.893	+8%	35.895	+14%	38.805	+6%	34.630	+19%
Current Ratio	-	-	0.024	4.107	-99%	13.139	-100%	35.747	-100%	51.445	-100%
Debt To Asset Ratio	-	-	0.928	0.933	-1%	0.932	0%	0.917	+1%	0.914	+1%
Debt To Equity Ratio	-	-	12.883	13.962	-8%	13.918	-7%	11.465	+12%	10.898	+18%
Dividend Per Share	-	-	0.308	0.307	+0%	0.305	+1%	0.282	+9%	0.269	+15%
Eps	-	-	0.800	1.316	-39%	1.515	-47%	1.205	-34%	0.888	-10%
Free Cash Flow Per Share	-	-	0.757	1.600	-53%	1.822	-58%	1.604	-53%	1.311	-42%
Free Cash Flow To Equity Per Share	-	-	-2.151	3.309	-165%	14.792	-115%	10.560	-120%	6.951	-131%
Gross Profit Margin	-	-	0.947	0.961	-2%	0.967	-2%	0.957	-1%	0.931	+2%
Intrinsic Value_10Y_max	-	-	51.483	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	-8.623	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	6.764	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	4.234	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	19.099	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	8.382	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	29.961	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	7.741	-	-	-	-	-	-	-	-
Market Cap	208079346.000	-14%	236583366.000	201095861.100	+18%	215478514.525	+10%	198975613.930	+19%	183201934.638	+29%
Net Profit Margin	-	-	0.106	0.240	-56%	0.305	-65%	0.254	-58%	0.207	-48%
Operating Margin	-	-	0.111	0.436	-74%	0.464	-76%	0.413	-73%	0.358	-69%
Operating Ratio	-	-	0.338	0.015	+2117%	0.015	+2109%	0.015	+2105%	0.135	+149%
Pb Ratio	1.066	-14%	1.212	1.115	+9%	1.266	-4%	1.080	+12%	1.111	+9%
Pe Ratio	13.682	-14%	15.557	8.938	+74%	7.515	+107%	9.824	+58%	8.078	+93%
Price Per Share	43.800	-14%	49.800	42.330	+18%	45.358	+10%	41.575	+20%	38.279	+30%
Price To Free Cash Flow Ratio	14.466	-14%	16.448	8.175	+101%	10.078	+63%	7.782	+111%	10.099	+63%
Price To Total Gains Ratio	7.811	-14%	8.881	27.763	-68%	-6.604	+174%	23.687	-63%	-46.838	+627%
Quick Ratio	-	-	0.329	14.416	-98%	28.300	-99%	33.139	-99%	34.889	-99%
Return On Assets	-	-	0.001	0.002	-40%	0.003	-51%	0.002	-43%	0.002	-35%
Return On Equity	-	-	0.019	0.035	-45%	0.042	-54%	0.031	-38%	0.026	-25%
Total Gains Per Share	-	-	5.608	1.826	+207%	-2.067	+137%	0.633	+786%	0.567	+889%
Usd Book Value	-	-	195241000.000	180018000.000	+8%	170526750.000	+14%	185743300.000	+5%	165667400.000	+18%
Usd Book Value Change Per Share	-	-	5.300	1.518	+249%	-2.372	+145%	0.351	+1409%	0.298	+1677%
Usd Book Value Per Share	-	-	41.098	37.893	+8%	35.895	+14%	38.805	+6%	34.630	+19%
Usd Dividend Per Share	-	-	0.308	0.307	+0%	0.305	+1%	0.282	+9%	0.269	+15%
Usd Eps	-	-	0.800	1.316	-39%	1.515	-47%	1.205	-34%	0.888	-10%
Usd Free Cash Flow	-	-	3596000.000	7599500.000	-53%	8655250.000	-58%	7671350.000	-53%	6271575.000	-43%
Usd Free Cash Flow Per Share	-	-	0.757	1.600	-53%	1.822	-58%	1.604	-53%	1.311	-42%
Usd Free Cash Flow To Equity Per Share	-	-	-2.151	3.309	-165%	14.792	-115%	10.560	-120%	6.951	-131%
Usd Market Cap	208079346.000	-14%	236583366.000	201095861.100	+18%	215478514.525	+10%	198975613.930	+19%	183201934.638	+29%
Usd Price Per Share	43.800	-14%	49.800	42.330	+18%	45.358	+10%	41.575	+20%	38.279	+30%
Usd Profit	-	-	3802000.000	6250000.000	-39%	7195750.000	-47%	5754050.000	-34%	4410725.000	-14%
Usd Revenue	-	-	35702000.000	27537750.000	+30%	23653500.000	+51%	22797650.000	+57%	20853650.000	+71%
Usd Total Gains Per Share	-	-	5.608	1.826	+207%	-2.067	+137%	0.633	+786%	0.567	+889%
	EOD	+4 -4	MRQ	TTM	+15 -21	YOY	+17 -19	5Y	+13 -23	10Y	+15 -21

4.2. Fundamental Score

Let's check the fundamental score of Chemung Financial Corp based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	13.682
Price to Book Ratio (EOD)	Between	0-1	1.066
Net Profit Margin (MRQ)	Greater than	0	0.106
Operating Margin (MRQ)	Greater than	0	0.111
Quick Ratio (MRQ)	Greater than	1	0.329
Current Ratio (MRQ)	Greater than	1	0.024
Debt to Asset Ratio (MRQ)	Less than	1	0.928
Debt to Equity Ratio (MRQ)	Less than	1	12.883
Return on Equity (MRQ)	Greater than	0.15	0.019
Return on Assets (MRQ)	Greater than	0.05	0.001
Total			4/10 (40.0%)

Create your own Stock Scanner

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4.3. Technical Score

Let's check the technical score of Chemung Financial Corp based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	62.822
Ma 20	Greater than	Ma 50	41.259
Ma 50	Greater than	Ma 100	41.982
Ma 100	Greater than	Ma 200	44.984
Open	Greater than	Close	43.250
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.
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Reversals in quarterly reports

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

		2022-12-31		2023-03-31		2023-06-30		2023-09-30		2023-12-31
Other Current Liabilities		-141,991	51,921	-90,070	43,194	-46,876	-8,247	-55,123	1,872,285	1,817,162
Long-term Assets Other		-682,229	51,293	-630,936	28,206	-602,730	-13,599	-616,329	672,431	56,102

Latest Balance Sheet

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

Summary

Total Assets	2,710,529
Total Liabilities	2,515,288
Total Stockholder Equity	195,241

	As reported
Total Liabilities	2,515,288
Total Stockholder Equity	+ 195,241
Total Assets	= 2,710,529

Assets

Total Assets	2,710,529
Total Current Assets	44,973
Long-term Assets	2,665,556

Total Current Assets

Total Current Assets (as reported)	44,973
Cash And Cash Equivalents	36,847
Short-term Investments	583,993
Total Current Assets (calculated)	620,840
+/-	575,867

Long-term Assets

Long-term Assets (as reported)	2,665,556
Property Plant Equipment	20,219
Goodwill	21,824
Long Term Investments	587,824
Other Assets	2,629,496
Long-term Assets (calculated)	3,259,363
+/-	593,807

Liabilities & Shareholders' Equity

Total Current Liabilities	1,851,866
Long-term Liabilities	663,422
Total Stockholder Equity	195,241

Total Current Liabilities

Total Current Liabilities (as reported)	1,851,866
Short-term Debt	33,235
Short Long Term Debt	31,920
Accounts payable	19,614
Other Current Liabilities	1,817,162
Total Current Liabilities (calculated)	1,901,931
+/-	50,065

Long-term Liabilities

Long-term Liabilities (as reported)	663,422
Capital Lease Obligations	8,877
Long-term Liabilities (calculated)	8,877
+/-	654,545

Total Stockholder Equity

Total Stockholder Equity (as reported)	195,241
Common Stock	53
Retained Earnings	229,930
Accumulated Other Comprehensive Income	-66,013
Other Stockholders Equity	31,271
Total Stockholder Equity (calculated)	195,241
+/-	0

Other

Capital Stock	53
Cash and Short Term Investments	25,142
Common Stock Shares Outstanding	4,743
Current Deferred Revenue	-18,145
Liabilities and Stockholders Equity	2,710,529
Net Debt	3,950
Net Invested Capital	227,161
Net Working Capital	-1,806,893
Property Plant and Equipment Gross	93,962
Short Long Term Debt Total	40,797

Balance Sheet

Currency in USD. All numbers in thousands.

Trend

2023-12-31

2023-09-30

2023-06-30

2023-03-31

2022-12-31

2022-09-30

2022-06-30

2022-03-31

2021-12-31

2021-09-30

2021-06-30

2021-03-31

2020-12-31

2020-09-30

2020-06-30

2020-03-31

2019-12-31

2019-09-30

2019-06-30

2019-03-31

2018-12-31

2018-09-30

2018-06-30

2018-03-31

2017-12-31

2017-09-30

2017-06-30

2017-03-31

2016-12-31

2016-09-30

2016-06-30

2016-03-31

2015-12-31

2015-09-30

2015-06-30

2015-03-31

2014-12-31

2014-09-30

2014-06-30

2014-03-31

2013-12-31

2013-09-30

2013-06-30

2013-03-31

2012-12-31

2012-09-30

2012-06-30

2012-03-31

2011-12-31

2011-09-30

2011-06-30

2011-03-31

2010-12-31

2010-09-30

2010-06-30

2010-03-31

2009-12-31

2009-09-30

2009-06-30

2009-03-31

2008-12-31

2008-09-30

2008-06-30

2008-03-31

2007-12-31

2007-09-30

2007-06-30

2007-03-31

2006-12-31

2006-09-30

2006-06-30

2006-03-31

2005-12-31

2005-09-30

2005-06-30

2005-03-31

2004-12-31

2004-09-30

2004-06-30

2004-03-31

2003-12-31

2003-09-30

2003-06-30

2003-03-31

2002-12-31

2002-09-30

2002-06-30

2002-03-31

2001-12-31

2001-09-30

2001-06-30

2001-03-31

2000-12-31

2000-09-30

2000-06-30

2000-03-31

1999-09-30

> Total Assets

650,804
668,723
672,319
679,411
676,237
736,345
729,559
729,653
725,072
751,233
741,978
753,237
751,171
752,995
755,259
750,417
747,209
758,247
734,187
734,179
722,544
710,212
711,394
729,752
718,039
724,784
715,581
732,053
738,170
750,137
781,340
791,219
788,874
831,395
876,941
862,720
838,318
882,076
950,732
968,638
975,919
1,008,041
1,000,980
972,700
958,327
986,766
1,237,036
1,265,923
1,216,260
1,254,495
1,267,459
1,286,980
1,248,160
1,279,972
1,257,160
1,341,091
1,476,143
1,497,531
1,515,881
1,521,896
1,517,011
1,584,772
1,553,633
1,631,639
1,619,926
1,643,226
1,683,480
1,728,865
1,657,179
1,736,100
1,718,572
1,731,682
1,710,556
1,699,954
1,710,166
1,753,864
1,755,343
1,769,572
1,752,997
1,793,643
1,787,827
1,841,329
2,050,921
2,165,014
2,279,451
2,442,495
2,380,712
2,417,656
2,418,788
2,474,895
2,449,911
2,551,418
2,645,553
2,654,183
2,674,673
2,707,834
2,710,529

2,710,529

2,707,834

2,674,673

2,654,183

2,645,553

2,551,418

2,449,911

2,474,895

2,418,788

2,417,656

2,380,712

2,442,495

2,279,451

2,165,014

2,050,921

1,841,329

1,787,827

1,793,643

1,752,997

1,769,572

1,755,343

1,753,864

1,710,166

1,699,954

1,710,556

1,731,682

1,718,572

1,736,100

1,657,179

1,728,865

1,683,480

1,643,226

1,619,926

1,631,639

1,553,633

1,584,772

1,517,011

1,521,896

1,515,881

1,497,531

1,476,143

1,341,091

1,257,160

1,279,972

1,248,160

1,286,980

1,267,459

1,254,495

1,216,260

1,265,923

1,237,036

986,766

958,327

972,700

1,000,980

1,008,041

975,919

968,638

950,732

882,076

838,318

862,720

876,941

831,395

788,874

791,219

781,340

750,137

738,170

732,053

715,581

724,784

718,039

729,752

711,394

710,212

722,544

734,179

734,187

758,247

747,209

750,417

755,259

752,995

751,171

753,237

741,978

751,233

725,072

729,653

729,559

736,345

676,237

679,411

672,319

668,723

650,804

> Total Current Assets

262,942
650,763
653,660
24,819,401
26,726,373
37,269,342
24,403,843
26,918,939
24,864
24,288,606
24,608,658
27,606,983
464,617
502,567
496,705
434,330
430,062
435,826
414,834
417,145
440,588
434,897
436,984
461,590
449,534
474,867
486,564
503,376
522,274
541,513
575,877
588,966
588,706
630,821
628,315
619,129
598,675
642,569
698,268
691,542
692,263
690,812
690,559
679,965
688,346
704,301
891,199
926,372
873,847
934,636
947,747
974,804
949,925
982,849
973,352
1,023,567
1,065,026
1,096,650
1,166,289
1,169,908
1,178,474
1,254,036
1,199,206
1,234,780
1,214,725
1,259,314
1,324,412
1,366,291
1,294,606
1,376,223
1,336,308
1,363,200
1,358,658
1,365,325
1,389,509
1,452,336
1,458,146
1,441,276
1,422,856
1,466,906
1,445,464
1,485,213
1,676,734
1,712,816
1,670,483
1,762,272
1,639,021
832,906
64,164
868,893
94,278
769,629
777,927
111,184
629,812
26,272
44,973

44,973

26,272

629,812

111,184

777,927

769,629

94,278

868,893

64,164

832,906

1,639,021

1,762,272

1,670,483

1,712,816

1,676,734

1,485,213

1,445,464

1,466,906

1,422,856

1,441,276

1,458,146

1,452,336

1,389,509

1,365,325

1,358,658

1,363,200

1,336,308

1,376,223

1,294,606

1,366,291

1,324,412

1,259,314

1,214,725

1,234,780

1,199,206

1,254,036

1,178,474

1,169,908

1,166,289

1,096,650

1,065,026

1,023,567

973,352

982,849

949,925

974,804

947,747

934,636

873,847

926,372

891,199

704,301

688,346

679,965

690,559

690,812

692,263

691,542

698,268

642,569

598,675

619,129

628,315

630,821

588,706

588,966

575,877

541,513

522,274

503,376

486,564

474,867

449,534

461,590

436,984

434,897

440,588

417,145

414,834

435,826

430,062

434,330

496,705

502,567

464,617

27,606,983

24,608,658

24,288,606

24,864

26,918,939

24,403,843

37,269,342

26,726,373

24,819,401

653,660

650,763

262,942

Cash And Cash Equivalents

28,618
27,363
29,213
26,353
28,164
48,494
25,680
28,262
30,381
25,759
32,548
28,860
30,052
26,227
36,709
29,305
25,670
22,280
23,739
26,236
22,803
21,702
24,528
34,884
25,558
28,354
22,514
25,653
26,590
25,647
28,274
27,865
29,378
34,984
36,827
27,501
23,651
76,108
68,235
75,884
79,738
87,728
85,411
73,115
60,620
78,021
83,944
118,473
52,902
110,514
74,175
81,232
40,241
46,137
24,757
39,929
51,609
57,148
66,282
35,026
29,163
84,873
29,664
75,249
26,185
55,859
107,354
135,504
74,162
125,685
64,546
56,378
30,729
31,004
34,815
113,912
129,972
125,810
116,460
146,298
121,904
144,458
155,162
149,902
108,538
156,999
56,797
61,697
26,981
65,483
29,768
42,423
55,869
34,641
54,226
75,580
36,847

36,847

75,580

54,226

34,641

55,869

42,423

29,768

65,483

26,981

61,697

56,797

156,999

108,538

149,902

155,162

144,458

121,904

146,298

116,460

125,810

129,972

113,912

34,815

31,004

30,729

56,378

64,546

125,685

74,162

135,504

107,354

55,859

26,185

75,249

29,664

84,873

29,163

35,026

66,282

57,148

51,609

39,929

24,757

46,137

40,241

81,232

74,175

110,514

52,902

118,473

83,944

78,021

60,620

73,115

85,411

87,728

79,738

75,884

68,235

76,108

23,651

27,501

36,827

34,984

29,378

27,865

28,274

25,647

26,590

25,653

22,514

28,354

25,558

34,884

24,528

21,702

22,803

26,236

23,739

22,280

25,670

29,305

36,709

26,227

30,052

28,860

32,548

25,759

30,381

28,262

25,680

48,494

28,164

26,353

29,213

27,363

28,618

Short-term Investments

234,324
223,219,552
219,324,637
220,325,447
0
234,179,433
0
0
0
0
9,981,614
0
257,153,717
0
228,662,576
283,348,543
0
286,629,427
283,768,879
281,313,033
0
242,698,916
246,358,581
239,415,829
0
220,001,429
197,905,950
197,187,556
0
177,857,966
169,872,748
168,052,106
282
156,839,561
202,769,189
196,023,633
2,405
189,255,597
199,044,324
224,857,566
58,549
267,293,539
262,024,511
245,939,433
44,080
234,941,389
284,133,730
279,079
280,870
259,449,877
260,941
253,668,954
239,686
235,307
225,362
259,275
346,016
337,134
286,398
288,098
280,507
266,307
290,571
335,571
344,820
324,484
300,277
303,259
303,402
302,581
324,293
312,226
293,627
278,984
265,157
246,473
242,258
266,721
269,286
267,529
284,090
299,075
317,061
396,300
554,611
626,195
687,594
761,531
792,026
746,343
692,995
640,352
632,589
626,055
604,313
569,004
583,993

583,993

569,004

604,313

626,055

632,589

640,352

692,995

746,343

792,026

761,531

687,594

626,195

554,611

396,300

317,061

299,075

284,090

267,529

269,286

266,721

242,258

246,473

265,157

278,984

293,627

312,226

324,293

302,581

303,402

303,259

300,277

324,484

344,820

335,571

290,571

266,307

280,507

288,098

286,398

337,134

346,016

259,275

225,362

235,307

239,686

253,668,954

260,941

259,449,877

280,870

279,079

284,133,730

234,941,389

44,080

245,939,433

262,024,511

267,293,539

58,549

224,857,566

199,044,324

189,255,597

2,405

196,023,633

202,769,189

156,839,561

282

168,052,106

169,872,748

177,857,966

197,187,556

197,905,950

220,001,429

239,415,829

246,358,581

242,698,916

281,313,033

283,768,879

286,629,427

283,348,543

228,662,576

257,153,717

9,981,614

234,179,433

220,325,447

219,324,637

223,219,552

234,324

Net Receivables

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
17,979
17,595
17,493
22,354
20,720
20,917
25,578
32,459
34,707
27,623
27,129
28,256
26,317
24,818
24,936
29,954
27,630
30,069
28,960
29,934
32,513
33,395
32,568
31,572
32,373
33,966
33,489
33,535
42,627
43,063
43,802
43,086
41,774
41,339
41,494
43,835
59,903
70,004
89,710
89,469
83,126
87,272
101,436
0

101,436

87,272

83,126

89,469

89,710

70,004

59,903

43,835

41,494

41,339

41,774

43,086

43,802

43,063

42,627

33,535

33,489

33,966

32,373

31,572

32,568

33,395

32,513

29,934

28,960

30,069

27,630

29,954

24,936

24,818

26,317

28,256

27,129

27,623

34,707

32,459

25,578

20,917

20,720

22,354

17,493

17,595

17,979

Other Current Assets

0
623,400
624,447
24,793,048
26,698,209
37,220,848
24,378,163
26,890,677
-5,517
24,262,847
24,576,110
27,578,123
434,564
476,340
459,996
405,026
404,393
413,547
391,095
390,909
417,785
413,195
412,455
426,706
423,976
446,513
464,051
477,723
495,684
515,865
547,603
561,101
559,328
595,837
591,488
591,628
575,024
566,461
630,033
615,657
612,524
603,084
605,148
606,850
627,727
626,280
807,255
807,900
820,945
824,122
873,572
893,572
669,998
683,426
705,637
706,869
645,046
681,648
792,692
821,207
836,345
870,931
854,149
799,651
818,265
855,511
894,386
905,486
890,000
923,256
920,347
968,600
1,006,344
1,025,822
1,059,156
1,062,415
1,057,392
1,019,435
1,006,223
1,022,686
1,009,046
1,002,070
1,164,479
1,125,857
967,307
940,091
856,091
740,795
-798,678
-784,284
-698,489
49,728
64,746
43,306
63,084
85,231
44,973

44,973

85,231

63,084

43,306

64,746

49,728

-698,489

-784,284

-798,678

740,795

856,091

940,091

967,307

1,125,857

1,164,479

1,002,070

1,009,046

1,022,686

1,006,223

1,019,435

1,057,392

1,062,415

1,059,156

1,025,822

1,006,344

968,600

920,347

923,256

890,000

905,486

894,386

855,511

818,265

799,651

854,149

870,931

836,345

821,207

792,692

681,648

645,046

706,869

705,637

683,426

669,998

893,572

873,572

824,122

820,945

807,900

807,255

626,280

627,727

606,850

605,148

603,084

612,524

615,657

630,033

566,461

575,024

591,628

591,488

595,837

559,328

561,101

547,603

515,865

495,684

477,723

464,051

446,513

423,976

426,706

412,455

413,195

417,785

390,909

391,095

413,547

404,393

405,026

459,996

476,340

434,564

27,578,123

24,576,110

24,262,847

-5,517

26,890,677

24,378,163

37,220,848

26,698,209

24,793,048

624,447

623,400

> Long-term Assets

17,111
17,960
18,659
-24,139,990
-26,050,136
-36,532,997
-23,674,284
-26,189,286
13,661
-23,537,373
-23,866,680
-26,853,746
286,554
250,428
258,554
316,087
317,147
322,421
319,352
317,034
281,956
275,315
274,410
268,162
268,505
249,917
229,017
228,677
215,896
208,624
205,463
202,253
200,167
200,574
248,626
243,591
239,643
239,507
252,464
277,096
283,656
317,230
310,421
292,735
269,981
282,466
345,837
339,550
342,413
319,859
319,712
312,176
298,235
297,123
283,809
317,524
411,118
400,881
349,592
353,649
346,065
330,736
354,427
396,859
405,239
383,912
359,520
362,574
362,573
359,877
382,264
368,482
348,962
334,629
320,657
301,528
297,197
328,296
330,141
326,737
342,363
356,116
374,187
452,198
608,968
680,223
741,691
814,951
846,134
798,991
744,165
691,290
682,229
43,941
49,598
616,329
2,665,556

2,665,556

616,329

49,598

43,941

682,229

691,290

744,165

798,991

846,134

814,951

741,691

680,223

608,968

452,198

374,187

356,116

342,363

326,737

330,141

328,296

297,197

301,528

320,657

334,629

348,962

368,482

382,264

359,877

362,573

362,574

359,520

383,912

405,239

396,859

354,427

330,736

346,065

353,649

349,592

400,881

411,118

317,524

283,809

297,123

298,235

312,176

319,712

319,859

342,413

339,550

345,837

282,466

269,981

292,735

310,421

317,230

283,656

277,096

252,464

239,507

239,643

243,591

248,626

200,574

200,167

202,253

205,463

208,624

215,896

228,677

229,017

249,917

268,505

268,162

274,410

275,315

281,956

317,034

319,352

322,421

317,147

316,087

258,554

250,428

286,554

-26,853,746

-23,866,680

-23,537,373

13,661

-26,189,286

-23,674,284

-36,532,997

-26,050,136

-24,139,990

18,659

17,960

17,111

Property Plant Equipment

11,324
12,466
13,312
13,552
13,598
13,784
14,134
14,410
14,750
16,259
16,308
16,757
17,496
17,134
17,202
17,291
17,472
17,125
17,192
16,997
17,213
16,971
17,175
17,521
18,708
18,755
19,871
20,766
21,722
21,512
21,606
22,051
23,220
23,416
23,494
24,004
24,938
24,892
25,640
25,281
24,886
24,447
24,196
24,059
24,193
23,727
24,345
24,250
24,762
24,977
24,717
24,863
25,484
24,800
24,969
25,087
30,039
29,351
29,938
32,431
32,287
31,548
30,874
30,023
29,397
28,620
29,706
29,084
28,923
28,206
27,836
27,366
26,657
26,136
26,049
25,514
24,980
32,670
31,825
31,013
30,418
29,607
29,045
28,365
27,264
26,876
26,368
25,454
25,515
24,295
23,653
23,227
22,562
22,117
21,546
20,886
20,219

20,219

20,886

21,546

22,117

22,562

23,227

23,653

24,295

25,515

25,454

26,368

26,876

27,264

28,365

29,045

29,607

30,418

31,013

31,825

32,670

24,980

25,514

26,049

26,136

26,657

27,366

27,836

28,206

28,923

29,084

29,706

28,620

29,397

30,023

30,874

31,548

32,287

32,431

29,938

29,351

30,039

25,087

24,969

24,800

25,484

24,863

24,717

24,977

24,762

24,250

24,345

23,727

24,193

24,059

24,196

24,447

24,886

25,281

25,640

24,892

24,938

24,004

23,494

23,416

23,220

22,051

21,606

21,512

21,722

20,766

19,871

18,755

18,708

17,521

17,175

16,971

17,213

16,997

17,192

17,125

17,472

17,291

17,202

17,134

17,496

16,757

16,308

16,259

14,750

14,410

14,134

13,784

13,598

13,552

13,312

12,466

11,324

Goodwill

0
-5,488,706
-5,342,027
-5,195,347
5,054
-4,901,990
4,760
4,613
-9,195
4,367
4,268
4,168
1,516,666
3,969
1,516,666
1,516,666
1,516,666
1,516,666
1,516,666
1,516,666
1,516,666
1,516,666
1,516,666
1,516,666
1,516,666
1,516,666
1,516,666
1,516,666
1,516,666
1,516,666
1,516,666
1,516,666
1,516,666
9,318,738
9,137,929
9,137,929
8,806,796
8,807
10,063
9,927
10,240
10,240
9,872
9,872
9,872
9,872
22,551
22,157
21,984
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824
21,824

21,824

21,984

22,157

22,551

9,872

10,240

9,927

10,063

8,807

8,806,796

9,137,929

9,318,738

1,516,666

3,969

1,516,666

4,168

4,268

4,367

-9,195

4,613

4,760

-4,901,990

5,054

-5,195,347

-5,342,027

-5,488,706

Long Term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
787,356
778,782
796,258
801,277
852,371
872,857
890,238
921,676
930,626
963,502
990,646
1,018,024
1,077,359
1,108,111
1,114,933
1,136,602
1,143,726
1,133,471
1,160,716
1,178,270
1,191,582
1,206,584
1,191,928
1,223,858
1,243,734
1,279,139
1,295,974
1,581,335
1,584,446
1,553,394
1,540,597
1,550,532
1,542,715
1,554,977
1,574,131
1,597,105
1,796,017
401,406
559,622
628,943
693,431
767,647
798,780
752,868
698,688
646,239
637,843
630,936
608,958
573,619
587,824

587,824

573,619

608,958

630,936

637,843

646,239

698,688

752,868

798,780

767,647

693,431

628,943

559,622

401,406

1,796,017

1,597,105

1,574,131

1,554,977

1,542,715

1,550,532

1,540,597

1,553,394

1,584,446

1,581,335

1,295,974

1,279,139

1,243,734

1,223,858

1,191,928

1,206,584

1,191,582

1,178,270

1,160,716

1,133,471

1,143,726

1,136,602

1,114,933

1,108,111

1,077,359

1,018,024

990,646

963,502

930,626

921,676

890,238

872,857

852,371

801,277

796,258

778,782

787,356

Intangible Assets

5,788
5,494,200
5,347,374
5,200,548
0
4,906,897
0
0
13,661
0
0
0
2,552,034
0
2,353,174
2,253,744
2,154,315
2,054,885
1,955,455
1,856,025
1,756,596
1,657,166
1,557,736
1,458,306
1,358,877
1,259,447
1,160,016
1,060,586
961,156
861,726
6,005,368
5,817,572
5,629,776
6,262,804
6,514,682
6,253,764
6,204,494
5,912
5,660
5,580
5,387
5,198
5,017
4,836
4,656
4,410
6,767
6,479
6,191
5,906
5,642
5,382
5,144
4,909
4,695
4,481
6,377
6,033
5,708
5,384
5,067
4,763
4,478
4,201
3,931
3,673
3,428
3,183
2,945
2,719
2,506
2,292
2,085
1,891
1,709
1,527
1,351
1,188
1,037
886
742
610
491
371
258
157
68
26
15
4
0
0
0
0
0
0
0

157

258

371

491

610

742

886

1,037

1,188

1,351

1,527

1,709

1,891

2,085

2,292

2,506

2,719

2,945

3,183

3,428

3,673

3,931

4,201

4,478

4,763

5,067

5,384

5,708

6,033

6,377

4,481

4,695

4,909

5,144

5,382

5,642

5,906

6,191

6,479

6,767

4,410

4,656

4,836

5,017

5,198

5,387

5,580

5,660

5,912

6,204,494

6,253,764

6,514,682

6,262,804

5,629,776

5,817,572

6,005,368

861,726

961,156

1,060,586

1,160,016

1,259,447

1,358,877

1,458,306

1,557,736

1,657,166

1,756,596

1,856,025

1,955,455

2,054,885

2,154,315

2,253,744

2,353,174

2,552,034

13,661

4,906,897

5,200,548

5,347,374

5,494,200

5,788

Earning Assets

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
372,040
360,929
385,154
388,190
422,912
451,772
0
0
0
0
0
0
0
0
0
0
0
0
0
0

451,772

422,912

388,190

385,154

360,929

372,040

Long-term Assets Other

0
5,494
5,347
-24,153,542
-26,063,734
-36,546,781
-23,688,419
-26,203,696
-1,089
-23,553,632
-23,882,988
-26,870,503
4,069
3,969
3,870
3,770
3,671
3,572
3,472
3,373
3,273
3,174
3,074
2,975
2,876
2,776
2,677
2,577
2,478
2,378
7,522
7,334
7,146
15,582
15,653
15,392
15,011
14,478,880
15,469,861
15,229,977
15,342,665
15,119,975
14,578,580
14,415,903
14,258,294
13,999,613
523,122
528,821
540,075
564,672
-133,672
0
0
1
0
0
1
-324,564
-273,146
-1
-255,550
-243,389
-274,128
-320,671
-327,783
-310,850
-287,339
-291,950
-286,440
-289,430
-308,327
-297,665
-281,280
-268,192
-248,573
-232,571
-229,693
-254,287
-255,313
-257,241
-273,433
-333,682
1,204,511
-430,003
-586,886
-680,223
-712,525
-786,017
35,210
-767,806
45,720
-691,290
-682,229
-630,936
-602,730
-616,329
56,102

56,102

-616,329

-602,730

-630,936

-682,229

-691,290

45,720

-767,806

35,210

-786,017

-712,525

-680,223

-586,886

-430,003

1,204,511

-333,682

-273,433

-257,241

-255,313

-254,287

-229,693

-232,571

-248,573

-268,192

-281,280

-297,665

-308,327

-289,430

-286,440

-291,950

-287,339

-310,850

-327,783

-320,671

-274,128

-243,389

-255,550

-1

-273,146

-324,564

-133,672

564,672

540,075

528,821

523,122

13,999,613

14,258,294

14,415,903

14,578,580

15,119,975

15,342,665

15,229,977

15,469,861

14,478,880

15,011

15,392

15,653

15,582

7,146

7,334

7,522

2,378

2,478

2,577

2,677

2,776

2,876

2,975

3,074

3,174

3,273

3,373

3,472

3,572

3,671

3,770

3,870

3,969

4,069

-26,870,503

-23,882,988

-23,553,632

-1,089

-26,203,696

-23,688,419

-36,546,781

-26,063,734

-24,153,542

5,347

5,494

> Total Liabilities

585,067
603,255
605,170
609,253
601,925
660,450
651,341
649,132
645,910
429,612,123
432,819,771
429,387,646
671,744
673,106
674,323
672,247
667,217
675,826
656,041
652,031
640,347
630,214
629,291
648,403
636,861
643,799
636,037
649,522
656,409
667,429
697,411
704,759
700,759
741,650
789,549
774,762
755,311
798,605
866,892
881,633
885,833
915,816
906,129
875,407
860,919
887,781
1,110,476
1,137,235
1,090,330
1,125,666
1,137,250
1,154,100
1,117,045
1,147,064
1,124,481
1,206,285
1,337,565
1,357,008
1,374,100
1,379,747
1,382,981
1,448,479
1,417,113
1,492,924
1,482,684
1,502,180
1,539,324
1,584,053
1,513,431
1,587,843
1,566,610
1,577,405
1,557,807
1,549,692
1,558,386
1,597,365
1,590,314
1,598,038
1,574,610
1,611,599
1,605,200
1,650,882
1,856,332
1,968,009
2,079,752
2,247,711
2,176,735
2,211,517
2,207,333
2,289,385
2,275,221
2,395,899
2,479,165
2,476,842
2,497,247
2,537,770
2,515,288

2,515,288

2,537,770

2,497,247

2,476,842

2,479,165

2,395,899

2,275,221

2,289,385

2,207,333

2,211,517

2,176,735

2,247,711

2,079,752

1,968,009

1,856,332

1,650,882

1,605,200

1,611,599

1,574,610

1,598,038

1,590,314

1,597,365

1,558,386

1,549,692

1,557,807

1,577,405

1,566,610

1,587,843

1,513,431

1,584,053

1,539,324

1,502,180

1,482,684

1,492,924

1,417,113

1,448,479

1,382,981

1,379,747

1,374,100

1,357,008

1,337,565

1,206,285

1,124,481

1,147,064

1,117,045

1,154,100

1,137,250

1,125,666

1,090,330

1,137,235

1,110,476

887,781

860,919

875,407

906,129

915,816

885,833

881,633

866,892

798,605

755,311

774,762

789,549

741,650

700,759

704,759

697,411

667,429

656,409

649,522

636,037

643,799

636,861

648,403

629,291

630,214

640,347

652,031

656,041

675,826

667,217

672,247

674,323

673,106

671,744

429,387,646

432,819,771

429,612,123

645,910

649,132

651,341

660,450

601,925

609,253

605,170

603,255

585,067

> Total Current Liabilities

353,724
382,294,796
387,257,903
389,239,972
394,571,609
407,962,986
421,186,977
425,785,848
39,707
429,612,123
432,819,771
429,387,646
42,232
26,433
26,304
26,217
1,124
1,154
1,118
1,100
6,094
927
953
935
21,860
3,890
22,072
12,609
9,223
1,286
37,042
36,447
63,692
5,522
39,448
21,977
1,267
1,241
1,366
1,309
1,129
1,018
962
894
784
703
927
823
800
676
656
463
453
11,379
12,844
61,294
15,057
8,083
9,205
13,690
57,755
27,006
29,843
29,985
30,684
19,928
18,656
21,214
15,667
19,312
15,978
16,810
72,611
17,028
73,817
17,010
16,773
18,887
21,027
22,828
20,893
30,832
33,355
31,097
30,865
26,080
27,415
26,809
26,040
27,631
81,971
53,155
141,991
44,658
46,876
55,123
1,851,866

1,851,866

55,123

46,876

44,658

141,991

53,155

81,971

27,631

26,040

26,809

27,415

26,080

30,865

31,097

33,355

30,832

20,893

22,828

21,027

18,887

16,773

17,010

73,817

17,028

72,611

16,810

15,978

19,312

15,667

21,214

18,656

19,928

30,684

29,985

29,843

27,006

57,755

13,690

9,205

8,083

15,057

61,294

12,844

11,379

453

463

656

676

800

823

927

703

784

894

962

1,018

1,129

1,309

1,366

1,241

1,267

21,977

39,448

5,522

63,692

36,447

37,042

1,286

9,223

12,609

22,072

3,890

21,860

935

953

927

6,094

1,100

1,118

1,154

1,124

26,217

26,304

26,433

42,232

429,387,646

432,819,771

429,612,123

39,707

425,785,848

421,186,977

407,962,986

394,571,609

389,239,972

387,257,903

382,294,796

353,724

Short-term Debt

0
0
0
0
8,400
8,400
0
0
37,600
25,000
25,000
25,000
40,750
25,000
25,000
25,000
0
0
0
0
5,000
5,000
0
0
20,800
2,800
21,000
11,400
7,900
7,900
35,800
35,000
62,400
4,140
38,000
21,100
0
0
0
0
0
0
0
0
0
0
44,096
43,936
43,344
43,227
41,128
28,046
27,225
27,158
26,101
49,100
25,243
25,189
24,136
24,086
30,830
30,830
15,600
0
13,900
13,900
47,926
49,123
17,072
24,280
25,595
23,577
57,700
57,700
58,950
4,358
4,304
0
0
0
0
0
0
245
245
0
0
3,659
14,570
0
45,870
710
95,810
90,070
50,760
347
33,235

33,235

347

50,760

90,070

95,810

710

45,870

14,570

3,659

245

4,304

4,358

58,950

57,700

23,577

25,595

24,280

17,072

49,123

47,926

13,900

15,600

30,830

24,086

24,136

25,189

25,243

49,100

26,101

27,158

27,225

28,046

41,128

43,227

43,344

43,936

44,096

21,100

38,000

4,140

62,400

35,000

35,800

7,900

11,400

21,000

2,800

20,800

5,000

25,000

40,750

25,000

37,600

8,400

Short Long Term Debt

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
82,786
0
0
0
20,000
0
47,926
49,123
17,072
24,280
25,595
23,577
12,000
10,000
65,683
4,358
4,304
0
0
0
0
0
0
245
0
0
0
0
14,570
0
45,870
710
95,810
90,070
50,760
0
31,920

31,920

50,760

90,070

95,810

710

45,870

14,570

245

4,304

4,358

65,683

10,000

12,000

23,577

25,595

24,280

17,072

49,123

47,926

20,000

82,786

Accounts payable

0
0
0
0
2,127
2,046
2,162
2,206
2,107
1,821
1,850
1,669
1,482
1,433
1,304
1,217
1,124
1,154
1,118
1,100
1,094
927
953
935
1,060
1,090
1,072
1,209
1,323
1,286
1,242
1,447
1,292
1,382
1,448
877
1,267
1,241
1,366
1,309
1,129
1,018
962
894
784
703
927
823
800
676
656
463
453
11,379
12,844
12,194
15,057
8,083
9,205
13,690
26,925
27,006
15,453
29,985
17,960
19,928
18,656
21,214
15,667
19,312
15,978
16,810
16,144
17,028
16,116
17,010
16,773
18,887
21,027
22,828
20,893
30,832
33,355
32,081
30,865
26,080
27,415
26,809
26,040
29,080
36,101
52,445
46,181
44,658
46,876
55,123
19,614

19,614

55,123

46,876

44,658

46,181

52,445

36,101

29,080

26,040

26,809

27,415

26,080

30,865

32,081

33,355

30,832

20,893

22,828

21,027

18,887

16,773

17,010

16,116

17,028

16,144

16,810

15,978

19,312

15,667

21,214

18,656

19,928

17,960

29,985

15,453

27,006

26,925

13,690

9,205

8,083

15,057

12,194

12,844

11,379

453

463

656

676

800

823

927

703

784

894

962

1,018

1,129

1,309

1,366

1,241

1,267

877

1,448

1,382

1,292

1,447

1,242

1,286

1,323

1,209

1,072

1,090

1,060

935

953

927

1,094

1,100

1,118

1,154

1,124

1,217

1,304

1,433

1,482

1,669

1,850

1,821

2,107

2,206

2,162

2,046

2,127

Other Current Liabilities

0
0
0
389,239,972
394,561,082
407,960,940
421,184,815
425,783,642
0
429,585,302
432,792,921
429,360,977
0
0
0
0
-1,124
-1,154
-1,118
-1,100
0
-927
-953
-935
0
0
0
0
0
-1,286
0
0
0
0
0
0
-1,267
-1,241
-1,366
-1,309
-1,129
-1,018
-962
-894
-784
-703
-927
-823
-800
-676
-656
-463
-453
-11,379
-12,844
1,088,445
-15,057
-8,083
-9,205
-13,690
1,280,014
-27,006
-1,210
-29,985
-1,176
-19,928
-18,656
-21,214
-15,667
-19,312
-15,978
-16,810
-1,233
-17,028
-1,249
-17,010
-16,773
-18,887
-21,027
-22,828
-20,893
-30,832
-33,355
-1,229
-30,865
-26,080
-27,415
-26,809
-14,570
-1,449
-81,971
-53,155
-141,991
-90,070
-46,876
-55,123
1,817,162

1,817,162

-55,123

-46,876

-90,070

-141,991

-53,155

-81,971

-1,449

-14,570

-26,809

-27,415

-26,080

-30,865

-1,229

-33,355

-30,832

-20,893

-22,828

-21,027

-18,887

-16,773

-17,010

-1,249

-17,028

-1,233

-16,810

-15,978

-19,312

-15,667

-21,214

-18,656

-19,928

-1,176

-29,985

-1,210

-27,006

1,280,014

-13,690

-9,205

-8,083

-15,057

1,088,445

-12,844

-11,379

-453

-463

-656

-676

-800

-823

-927

-703

-784

-894

-962

-1,018

-1,129

-1,309

-1,366

-1,241

-1,267

-1,286

-935

-953

-927

-1,100

-1,118

-1,154

-1,124

429,360,977

432,792,921

429,585,302

425,783,642

421,184,815

407,960,940

394,561,082

389,239,972

> Long-term Liabilities

231,343
220,959,953
217,912,003
20,000
25,000
25,000
39,700
25,000
0
0
0
0
0
0
0
0
25,000
25,000
25,800
25,000
20,000
25,000
25,000
25,000
20,000
20,000
10,000
10,000
20,000
20,000
20,000
20,000
20,000
20,000
20,000
20,000
20,000
20,000
20,000
20,000
20,000
20,000
20,000
20,000
20,000
20,000
44,096
43,936
43,344
43,227
41,128
28,046
27,225
27,158
26,101
26,046
25,243
25,189
24,520
27,125
22,286
22,259
22,201
22,140
22,076
22,012
23,970
23,893
13,815
13,736
13,658
13,577
6,517
4,464
4,411
4,358
4,304
12,649
12,445
12,265
12,169
11,947
11,721
11,494
11,113
11,250
11,133
10,886
25,860
10,713
56,329
53,155
141,991
44,658
60,177
9,148
663,422

663,422

9,148

60,177

44,658

141,991

53,155

56,329

10,713

25,860

10,886

11,133

11,250

11,113

11,494

11,721

11,947

12,169

12,265

12,445

12,649

4,304

4,358

4,411

4,464

6,517

13,577

13,658

13,736

13,815

23,893

23,970

22,012

22,076

22,140

22,201

22,259

22,286

27,125

24,520

25,189

25,243

26,046

26,101

27,158

27,225

28,046

41,128

43,227

43,344

43,936

44,096

20,000

10,000

20,000

25,000

20,000

25,000

25,800

25,000

39,700

25,000

20,000

217,912,003

220,959,953

231,343

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
384
3,039
22,286
22,259
22,201
22,140
22,076
22,012
23,970
23,893
13,815
13,736
13,658
13,577
6,517
4,464
4,411
4,358
4,304
4,250
4,195
4,140
4,085
4,028
3,969
0
0
0
0
0
0
0
0
0
27,196
22,776
26,450
0
0

26,450

22,776

27,196

3,969

4,028

4,085

4,140

4,195

4,250

4,304

4,358

4,411

4,464

6,517

13,577

13,658

13,736

13,815

23,893

23,970

22,012

22,076

22,140

22,201

22,259

22,286

3,039

384

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
7,426
8,836
11,002
14,547
11,172
10,556
11,637
14,989
9,497
12,010
12,553
10,506
7,732
8,404
8,130
9,785
7,649
10,199
9,639
11,386
8,735
10,695
9,960
12,375
11,380
12,844
12,195
16,251
9,283
10,406
14,891
28,129
27,006
15,453
29,985
17,998
17,091
19,855
21,214
15,667
14,641
15,978
16,810
16,144
17,028
12,430
13,069
12,005
17,351
19,454
21,242
12,500
29,273
31,854
30,592
14,330
24,579
25,699
25,075
14,659
27,404
34,417
50,657
16,666
0
16,136
0
0

16,136

16,666

50,657

34,417

27,404

14,659

25,075

25,699

24,579

14,330

30,592

31,854

29,273

12,500

21,242

19,454

17,351

12,005

13,069

12,430

17,028

16,144

16,810

15,978

14,641

15,667

21,214

19,855

17,091

17,998

29,985

15,453

27,006

28,129

14,891

10,406

9,283

16,251

12,195

12,844

11,380

12,375

9,960

10,695

8,735

11,386

9,639

10,199

7,649

9,785

8,130

8,404

7,732

10,506

12,553

12,010

9,497

14,989

11,637

10,556

11,172

14,547

11,002

8,836

7,426

> Total Stockholder Equity

65,737
65,468
67,149
70,158
74,312
75,896
78,218
80,520
79,162
79,567
81,450
77,855
79,427
79,889
80,936
78,170
79,993
82,421
78,145
82,148
82,196
79,998
82,103
81,349
81,178
80,984
79,544
82,530
81,761
82,708
83,929
86,460
88,115
89,745
87,392
87,958
83,007
83,472
83,840
87,004
90,086
92,226
94,851
97,293
97,409
98,986
126,560
128,688
125,929
128,829
130,209
132,880
131,115
132,908
132,679
134,806
138,578
140,523
141,781
142,149
134,030
136,293
136,520
138,715
137,242
141,046
144,156
144,812
143,748
148,257
151,962
154,277
152,749
150,262
151,780
156,499
165,029
171,534
178,387
182,044
182,627
190,447
194,589
197,005
199,699
194,784
203,977
206,139
211,455
185,510
174,690
155,519
166,388
177,341
177,426
170,064
195,241

195,241

170,064

177,426

177,341

166,388

155,519

174,690

185,510

211,455

206,139

203,977

194,784

199,699

197,005

194,589

190,447

182,627

182,044

178,387

171,534

165,029

156,499

151,780

150,262

152,749

154,277

151,962

148,257

143,748

144,812

144,156

141,046

137,242

138,715

136,520

136,293

134,030

142,149

141,781

140,523

138,578

134,806

132,679

132,908

131,115

132,880

130,209

128,829

125,929

128,688

126,560

98,986

97,409

97,293

94,851

92,226

90,086

87,004

83,840

83,472

83,007

87,958

87,392

89,745

88,115

86,460

83,929

82,708

81,761

82,530

79,544

80,984

81,178

81,349

82,103

79,998

82,196

82,148

78,145

82,421

79,993

78,170

80,936

79,889

79,427

77,855

81,450

79,567

79,162

80,520

78,218

75,896

74,312

70,158

67,149

65,468

65,737

Common Stock

0
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
43
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53
53

Retained Earnings

46,564
49,175
50,450
51,769
53,348
54,389
55,857
57,512
58,257
59,200
60,538
60,518
61,248
62,407
62,960
63,075
64,751
66,058
67,218
68,418
70,050
70,757
71,635
72,726
73,169
73,904
74,844
75,826
76,646
77,498
79,010
80,321
81,030
82,291
83,681
85,208
85,869
86,723
86,783
87,419
87,826
88,945
90,568
92,241
94,408
95,181
96,659
98,808
100,629
103,100
104,401
106,092
107,078
108,296
109,755
110,740
111,031
111,895
112,624
113,693
114,785
115,450
116,817
118,057
118,973
120,460
121,607
122,382
124,111
125,860
127,585
130,006
131,389
131,694
132,973
138,654
143,129
146,340
150,063
150,759
153,701
154,926
159,505
163,987
168,006
173,325
178,673
183,873
188,877
194,295
200,870
205,874
211,859
216,594
221,412
227,596
229,930

229,930

227,596

221,412

216,594

211,859

205,874

200,870

194,295

188,877

183,873

178,673

173,325

168,006

163,987

159,505

154,926

153,701

150,759

150,063

146,340

143,129

138,654

132,973

131,694

131,389

130,006

127,585

125,860

124,111

122,382

121,607

120,460

118,973

118,057

116,817

115,450

114,785

113,693

112,624

111,895

111,031

110,740

109,755

108,296

107,078

106,092

104,401

103,100

100,629

98,808

96,659

95,181

94,408

92,241

90,568

88,945

87,826

87,419

86,783

86,723

85,869

85,208

83,681

82,291

81,030

80,321

79,010

77,498

76,646

75,826

74,844

73,904

73,169

72,726

71,635

70,757

70,050

68,418

67,218

66,058

64,751

63,075

62,960

62,407

61,248

60,518

60,538

59,200

58,257

57,512

55,857

54,389

53,348

51,769

50,450

49,175

46,564

Accumulated Other Comprehensive Income

1,061
-1,186
-758
894
3,645
5,263
5,662
6,816
5,162
5,148
6,082
6,773
7,608
7,236
7,820
5,573
5,764
7,263
2,388
5,848
4,966
2,797
4,647
3,556
2,663
2,201
446
2,751
1,916
2,059
2,507
3,744
4,379
4,599
843
291
-5,239
-6,026
-5,787
-3,264
-566
292
1,457
2,300
102
537
3,059
3,065
-1,441
-1,146
-856
-72
-2,807
-2,623
-4,375
-3,277
155
787
1,250
488
-8,785
-7,787
-9,114
-8,286
-10,942
-9,338
-7,535
-7,805
-10,754
-8,756
-6,972
-7,275
-10,340
-13,836
-14,121
-15,287
-11,411
-8,842
-5,951
-3,276
-5,799
-82
2,142
1,642
2,401
-7,752
-3,858
-7,066
-6,530
-37,605
-55,345
-79,881
-75,257
-69,474
-74,746
-88,679
-66,013

-66,013

-88,679

-74,746

-69,474

-75,257

-79,881

-55,345

-37,605

-6,530

-7,066

-3,858

-7,752

2,401

1,642

2,142

-82

-5,799

-3,276

-5,951

-8,842

-11,411

-15,287

-14,121

-13,836

-10,340

-7,275

-6,972

-8,756

-10,754

-7,805

-7,535

-9,338

-10,942

-8,286

-9,114

-7,787

-8,785

488

1,250

787

155

-3,277

-4,375

-2,623

-2,807

-72

-856

-1,146

-1,441

3,065

3,059

537

102

2,300

1,457

292

-566

-3,264

-5,787

-6,026

-5,239

291

843

4,599

4,379

3,744

2,507

2,059

1,916

2,751

446

2,201

2,663

3,556

4,647

2,797

4,966

5,848

2,388

7,263

5,764

5,573

7,820

7,236

7,608

6,773

6,082

5,148

5,162

6,816

5,662

5,263

3,645

894

-758

-1,186

1,061

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
45,719
45,710
45,583
45,556
45,525
45,538
45,357
45,473
45,451
45,555
45,398
45,516
45,494
45,555
45,355
45,477
45,468
45,545
45,537
45,652
45,639
45,724
45,603
45,901
45,966
46,089
45,967
46,404
45,873
46,006
45,820
46,174
46,284
46,464
46,382
46,754
46,758
46,892
46,764
47,025
47,081
47,203
46,901
46,880
47,196
47,487
47,331
47,387
47,740
0
0

47,740

47,387

47,331

47,487

47,196

46,880

46,901

47,203

47,081

47,025

46,764

46,892

46,758

46,754

46,382

46,464

46,284

46,174

45,820

46,006

45,873

46,404

45,967

46,089

45,966

45,901

45,603

45,724

45,639

45,652

45,537

45,545

45,468

45,477

45,355

45,555

45,494

45,516

45,398

45,555

45,451

45,473

45,357

45,538

45,525

45,556

45,583

45,710

45,719

Treasury Stock

-18,113

-17,846

-17,924

-17,972

-17,867

-17,525

-15,569

-13,869

-11,204

-11,710

-11,956

-12,062

-12,191

-12,562

-12,927

-12,998

-14,053

-14,320

-14,596

-14,670

-14,801

-15,265

-15,542

-15,608

-15,781

-16,379

-16,654

-16,704

-16,900

-17,378

-17,640

-17,728

-18,060

-18,266

-18,205

-18,291

-18,566

-18,731

-18,915

-18,734

-18,894

-18,949

-18,930

-18,774

-19,167

-20,121

-20,019

-19,828

-20,025

-19,973

-19,953

-20,063

-20,548

-20,448

-20,017

-20,028

-20,138

-20,394

-20,352

-19,620

Other Stockholders Equity

18,112
16,250
16,656
18,346
20,921
21,464
22,318
22,965
20,862
20,324
20,869
17,294
10,529
10,203
10,114
9,479
9,435
9,057
8,496
7,840
7,137
6,401
5,777
5,024
5,303
4,836
4,211
3,910
3,156
3,107
2,369
2,352
2,663
2,812
2,824
2,417
2,335
2,732
2,801
2,806
2,782
2,946
2,783
2,709
2,855
3,224
26,789
26,761
26,689
26,822
26,610
26,807
26,791
27,183
27,245
27,289
27,339
27,788
27,854
27,915
27,977
28,577
28,764
28,891
29,158
29,871
30,031
30,182
30,338
31,100
31,296
31,493
31,647
32,351
32,875
33,079
33,258
33,983
34,222
34,508
34,672
35,550
32,889
31,323
29,239
29,158
29,109
29,279
29,055
28,767
29,112
29,473
29,733
30,168
30,707
31,094
31,271

31,271

31,094

30,707

30,168

29,733

29,473

29,112

28,767

29,055

29,279

29,109

29,158

29,239

31,323

32,889

35,550

34,672

34,508

34,222

33,983

33,258

33,079

32,875

32,351

31,647

31,493

31,296

31,100

30,338

30,182

30,031

29,871

29,158

28,891

28,764

28,577

27,977

27,915

27,854

27,788

27,339

27,289

27,245

27,183

26,791

26,807

26,610

26,822

26,689

26,761

26,789

3,224

2,855

2,709

2,783

2,946

2,782

2,806

2,801

2,732

2,335

2,417

2,824

2,812

2,663

2,352

2,369

3,107

3,156

3,910

4,211

4,836

5,303

5,024

5,777

6,401

7,137

7,840

8,496

9,057

9,435

9,479

10,114

10,203

10,529

17,294

20,869

20,324

20,862

22,965

22,318

21,464

20,921

18,346

16,656

16,250

18,112

Balance Sheet

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31	1994-12-31	1993-12-31
Accounts Payable	19,614	46,181	26,040	30,865	20,893	16,773	16,144	15,667	17,960	26,925	15,057	453	800	784	1,129	1,267	1,292	1,323	1,060	1,094	1,124	1,482	2,107	2,127	1,610	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	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
Accumulated Other Comprehensive Income	-66,013	-75,257	-6,530	2,401	-5,799	-11,411	-10,340	-10,754	-10,942	-8,785	155	-2,807	-1,441	102	-566	-5,239	4,379	1,916	2,663	4,966	5,764	7,608	5,162	3,645	-303	5,395	4,582	3,308	3,728	0	0
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	8,877	6,620	7,696	7,264	12,169	4,304	4,517	4,722	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	53	53	53	53	53	53	0	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	47,331	46,901	46,764	46,382	45,820	45,967	45,603	45,537	45,355	45,398	45,357	45,583	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash	36,847	55,869	26,981	108,538	121,904	129,972	30,729	74,162	26,185	29,163	51,609	40,241	52,902	60,620	79,738	23,651	29,378	26,590	25,558	22,803	25,670	30,052	30,381	28,164	32,073	28,820	34,418	31,755	37,294	32,381	30,118
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
Cash And Short Term Investments	-22,247	688,458	819,007	663,149	405,994	372,230	324,356	377,564	371,005	309,670	397,625	279,927	52,902	60,620	79,738	23,651	29,378	26,590	25,558	22,803	25,670	30,052	30,381	28,164	32,073	28,820	34,418	31,755	37,294	32,381	30,118
Common Stock	53	53	53	53	53	53	53	53	53	53	53	53	53	43	43	43	43	43	43	43	43	43	43	43	43	43	10,750	2,150	10,750	10,750	9,783
Common Stock Shares Outstanding	4,732	4,693	4,683	4,802	4,869	4,832	4,800	4,762	4,719	4,683	4,660	4,641	4,383	3,607	3,603	3,594	3,595	3,642	3,689	3,764	3,821	3,940	4,051	4,094	4,132	4,116	4,143	4,159	4,176	3,799	3,787
Common Stock Total Equity	0	53	53	53	53	53	53	53	53	53	53	53	53	43	43	43	43	43	43	43	43	43	43	43	43	43	10,750	2,150	10,750	10,750	9,783
Current Deferred Revenue	-18,145	0	0	29,570	19,585	0	0	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
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
Earning Assets	0	0	0	0	388,190	347,705	307,485	359,291	357,259	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Good Will	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,984	9,872	10,240	8,806,796	1,516,666	1,516,666	1,516,666	1,516,666	1,516,666	1,516,666	-9,195	5,054	5,641	6,228	6,816	7,403	7,990	8,578	0
Intangible Assets	0	0	15	258	742	1,351	2,085	2,945	3,931	5,067	6,377	5,144	6,191	4,656	5,387	6,204,494	5,629,776	961,156	1,358,877	1,756,596	2,154,315	2,552,034	13,661	0	0	0	0	0	0	0	0
Inventory	0	-64,746	-33,109	-115,046	-127,054	574	-1,976	-2,912	-2,801	3,730	1,233	1,622	1,293	1,228	849	404	39	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Liabilities And Stockholders Equity	2,710,529	2,645,553	2,418,788	2,279,451	1,787,827	1,755,343	1,710,556	1,657,179	1,619,926	1,517,011	1,476,143	1,248,160	1,216,260	958,327	975,919	838,318	788,874	738,170	718,039	722,544	747,209	751,171	725,072	676,237	653,243	623,660	548,934	532,213	501,893	494,332	398,124
Long Term Debt	0	99,137	18,164	3,849	4,085	4,304	6,517	13,815	22,076	22,286	39,301	45,398	55,344	45,000	57,500	67,500	32,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Debt Total	0	27,196	0	0	4,085	4,304	6,517	13,815	22,076	22,286	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Investments	587,824	637,843	798,780	559,622	1,574,131	1,540,597	1,295,974	1,191,928	1,160,716	1,114,933	990,646	890,238	796,258	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
Net Debt	3,950	145,698	-1,121	-97,425	-109,735	-125,668	33,488	-60,347	9,791	23,953	-26,366	-13,016	-9,558	-40,620	-59,738	-3,651	53,022	1,310	15,242	2,197	-670	10,698	7,219	5,236	-32,073	-1,920	-18,118	-31,755	-37,294	-32,381	-30,118
Net Invested Capital	227,161	265,525	229,619	203,548	186,712	169,333	209,513	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Receivables	0	89,469	43,835	43,086	33,535	31,572	29,934	29,954	28,256	32,459	22,354	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	7,952	4,936
Net Tangible Assets	0	144,564	189,616	177,617	160,061	141,854	125,904	118,979	111,487	106,737	110,376	104,147	97,755	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Working Capital	-1,806,893	635,936	822,232	675,370	418,636	387,029	1,286,047	1,278,939	1,184,041	1,120,719	1,049,968	949,472	873,047	687,562	691,134	597,408	525,014	513,051	427,674	434,494	428,938	422,384	671,704	-4,388,013	633,871	0	0	0	0	0	0
Non Current Assets Total	2,665,556	682,229	846,134	608,968	342,363	297,197	348,962	362,573	405,239	346,065	411,118	298,235	342,413	269,981	283,656	239,643	200,167	215,896	268,505	281,956	317,147	286,554	13,661	5,053,723	17,763	16,313	17,035	17,116	18,281	17,105	144,308
Non Current Liabilities Other	0	105,757	25,542	11,113	12,169	0	10,000	27,606	28,453	29,652	32,701	44,633	46,552	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Current Liabilities Total	663,422	141,991	25,860	11,113	12,169	16,773	6,517	13,815	22,076	22,286	25,243	27,225	43,344	20,000	20,000	20,000	20,000	20,000	20,000	20,000	25,000	0	0	25,000	0	26,900	16,300	0	0	0	0
Non Currrent Assets Other	56,102	-682,229	-846,134	-608,968	-342,363	-297,197	-281,280	-286,440	-327,783	-255,550	1	0	540,075	14,258,294	15,342,665	15,011	7,146	2,478	2,876	3,273	3,671	4,069	-1,089	5,040,125	5,641	6,228	6,816	7,403	7,990	8,578	-144,308
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
Other Assets	0	1,185,397	709,812	964,248	1,005,935	1,054,344	2,936	2,019,752	-38	-7,528	0	0	1,558,672	1,228,308	1,259,575	1,077,961	989,041	954,066	986,544	1,004,499	1,064,357	1,037,725	0	0	0	0	0	0	0	0	218,761
Other Current Assets	44,973	64,746	33,109	115,046	127,054	1,057,392	1,006,344	890,000	818,265	836,345	645,046	669,998	820,945	627,727	612,524	575,024	559,328	495,684	423,976	417,785	404,393	434,564	681,029	-4,405,650	603,408	578,527	497,481	483,342	446,318	436,894	0
Other Current Liab	1,817,162	-141,991	-40,610	-30,865	-20,893	-16,773	-1,233	-15,667	-1,176	1,280,014	-15,057	-453	-800	-784	-1,129	-1,267	0	0	0	0	-1,124	0	0	0	-1,610	0	0	0	0	0	0
Other Liab	0	16,666	14,659	14,330	12,500	12,005	13,714	13,471	16,512	28,129	16,251	12,375	11,386	9,785	10,506	14,989	14,547	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Stockholder Equity	31,271	29,733	29,055	29,239	34,672	33,258	31,647	30,338	29,158	27,977	27,339	26,791	26,689	2,855	2,782	2,335	2,663	3,156	5,303	7,137	9,435	10,529	20,862	20,921	17,203	23,276	12,651	18,160	12,218	8,614	5,039
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
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
Property Plant And Equipment Gross	93,962	22,562	25,515	27,264	30,418	24,980	26,657	28,923	29,397	32,287	30,039	25,484	24,762	24,193	24,886	24,938	23,220	21,722	18,708	17,213	17,472	17,496	14,750	13,598	12,122	10,085	10,219	9,713	10,291	8,527	7,222
Property Plant And Equipment Net	20,219	22,562	25,515	27,264	30,418	24,980	26,657	28,923	29,397	32,287	30,039	25,484	24,762	24,193	24,886	24,938	23,220	21,722	18,708	17,213	17,472	17,496	14,750	13,598	12,122	10,085	10,219	9,713	10,291	8,527	7,222
Property Plant Equipment	0	22,562	25,515	27,264	22,417	24,980	26,657	28,923	29,397	32,287	30,039	25,484	24,762	24,192	24,886	24,938	23,220	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Earnings	229,930	211,859	188,877	168,006	153,701	143,129	131,389	124,111	118,973	114,785	111,031	107,078	100,629	94,408	87,826	85,869	81,030	76,646	73,169	70,050	64,751	61,248	58,257	53,348	48,066	42,771	38,236	33,885	29,931	26,375	23,504
Retained Earnings Total Equity	0	211,859	188,877	168,006	153,701	143,129	128,453	124,111	118,973	114,383	111,031	107,078	100,629	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt	31,920	95,810	14,570	0	0	0	57,700	0	20,000	82,786	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt Total	40,797	201,567	25,860	11,113	12,169	4,304	64,217	13,815	35,976	53,116	25,243	27,225	43,344	20,000	20,000	20,000	82,400	27,900	40,800	25,000	25,000	40,750	37,600	33,400	0	26,900	16,300	0	0	0	0
Short Term Debt	33,235	95,810	14,570	1,295	1,308	0	57,700	0	13,900	30,830	25,243	27,225	43,344	0	0	0	62,400	7,900	20,800	5,000	0	40,750	37,600	8,400	0	0	0	0	0	0	0
Short Term Investments	583,993	632,589	792,026	554,611	284,090	242,258	293,627	303,402	344,820	280,507	346,016	239,686	280,869,810	223,544,961	230,983,633	191,254,900	165,321,115	184,829,551	238,335,450	249,330,518	282,920,294	257,153,717	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
Total Assets	2,710,529	2,645,553	2,418,788	2,279,451	1,787,827	1,755,343	1,710,556	1,657,179	1,619,926	1,517,011	1,476,143	1,248,160	1,216,260	958,327	975,919	838,318	788,874	738,170	718,039	722,544	747,209	751,171	725,072	676,237	653,243	623,660	548,934	532,213	501,893	494,332	398,124
Total Current Assets	44,973	777,927	862,842	706,235	439,529	403,802	1,358,658	1,294,606	1,214,725	1,178,474	1,065,026	949,925	873,847	688,346	692,263	598,675	588,706	522,274	449,534	440,588	430,062	464,617	711,411	-4,377,486	635,481	607,347	531,900	515,097	483,612	477,227	35,054
Total Current Liabilities	1,851,866	141,991	40,610	30,865	20,893	16,773	72,611	15,667	30,684	57,755	15,057	453	800	784	1,129	1,267	63,692	9,223	21,860	6,094	1,124	42,232	39,707	10,527	1,610	0	0	0	0	0	0
Total Liab	2,515,288	2,479,165	2,207,333	2,079,752	1,605,200	1,590,314	1,557,807	1,513,431	1,482,684	1,382,981	1,337,565	1,117,045	1,090,330	860,919	885,833	755,311	700,759	656,409	636,861	640,347	667,217	671,744	645,910	601,925	587,931	557,570	487,297	478,018	448,994	448,594	359,797
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
Total Stockholder Equity	195,241	166,388	211,455	199,699	182,627	165,029	152,749	143,748	137,242	134,030	138,578	131,115	125,929	97,409	90,086	83,007	88,115	81,761	81,178	82,196	79,993	79,427	79,162	74,312	65,312	66,090	61,637	54,195	52,899	45,739	38,326
Treasury Stock	0	0	-17,846	-17,525	-11,710	-12,562	-14,320	-15,265	-16,379	-17,378	-18,060	-18,566	-18,894	-19,167	-20,025	-20,548	-20,138	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

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30	2000-03-31	1999-09-30
Accounts Payable	19,614	55,123	46,876	44,658	46,181	52,445	36,101	29,080	26,040	26,809	27,415	26,080	30,865	32,081	33,355	30,832	20,893	22,828	21,027	18,887	16,773	17,010	16,116	17,028	16,144	16,810	15,978	19,312	15,667	21,214	18,656	19,928	17,960	29,985	15,453	27,006	26,925	13,690	9,205	8,083	15,057	12,194	12,844	11,379	453	463	656	676	800	823	927	703	784	894	962	1,018	1,129	1,309	1,366	1,241	1,267	877	1,448	1,382	1,292	1,447	1,242	1,286	1,323	1,209	1,072	1,090	1,060	935	953	927	1,094	1,100	1,118	1,154	1,124	1,217	1,304	1,433	1,482	1,669	1,850	1,821	2,107	2,206	2,162	2,046	2,127	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Accumulated Other Comprehensive Income	-66,013	-88,679	-74,746	-69,474	-75,257	-79,881	-55,345	-37,605	-6,530	-7,066	-3,858	-7,752	2,401	1,642	2,142	-82	-5,799	-3,276	-5,951	-8,842	-11,411	-15,287	-14,121	-13,836	-10,340	-7,275	-6,972	-8,756	-10,754	-7,805	-7,535	-9,338	-10,942	-8,286	-9,114	-7,787	-8,785	488	1,250	787	155	-3,277	-4,375	-2,623	-2,807	-72	-856	-1,146	-1,441	3,065	3,059	537	102	2,300	1,457	292	-566	-3,264	-5,787	-6,026	-5,239	291	843	4,599	4,379	3,744	2,507	2,059	1,916	2,751	446	2,201	2,663	3,556	4,647	2,797	4,966	5,848	2,388	7,263	5,764	5,573	7,820	7,236	7,608	6,773	6,082	5,148	5,162	6,816	5,662	5,263	3,645	894	-758	-1,186	1,061
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Capital Lease Obligations	8,877	6,028	6,228	6,427	6,620	6,810	6,998	7,186	7,696	7,227	7,409	7,462	7,264	11,494	11,721	11,947	12,169	12,265	12,445	12,649	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	53	53	53	53	53	53	53	53	53	53	53	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	47,740	47,387	47,331	47,487	47,196	46,880	46,901	47,203	47,081	47,025	46,764	46,892	46,758	46,754	46,382	46,464	46,284	46,174	45,820	46,006	45,873	46,404	45,967	46,089	45,966	45,901	45,603	45,724	45,639	45,652	45,537	45,545	45,468	45,477	45,355	45,555	45,494	45,516	45,398	45,555	45,451	45,473	45,357	45,538	45,525	45,556	45,583	45,710	45,719	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	36,847	75,580	54,226	34,641	55,869	42,423	29,768	65,483	26,981	61,697	56,797	156,999	108,538	149,902	155,162	144,458	121,904	146,298	116,460	125,810	129,972	113,912	34,815	31,004	30,729	56,378	64,546	125,685	74,162	135,504	107,354	55,859	26,185	75,249	29,664	84,873	29,163	35,026	66,282	57,148	51,609	39,929	24,757	46,137	40,241	81,232	74,175	110,514	52,902	118,473	83,944	78,021	60,620	73,115	85,411	87,728	79,738	75,884	68,235	76,108	23,651	27,501	36,827	34,984	29,378	27,865	28,274	25,647	26,590	25,653	22,514	28,354	25,558	34,884	24,528	21,702	22,803	26,236	23,739	22,280	25,670	29,305	36,709	26,227	30,052	28,860	32,548	25,759	30,381	28,262	25,680	48,494	28,164	26,353	29,213	27,363	28,618
Cash And Equivalents	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	25,142	26,272	629,812	28,058	688,458	682,775	722,763	811,826	819,007	823,228	744,391	783,194	663,149	546,202	472,223	443,533	405,994	413,827	385,746	392,531	372,230	360,385	299,972	309,988	324,356	368,604	388,839	428,266	377,564	438,763	407,631	380,343	371,005	410,820	320,235	351,180	309,670	323,123	352,680	394,282	397,625	299,204	250,119	281,444	279,927	81,232	74,175	110,514	52,902	118,473	83,944	78,021	60,620	73,115	85,411	87,728	79,738	75,884	68,235	76,108	23,651	27,501	36,827	34,984	29,378	27,865	28,274	25,647	26,590	25,653	22,514	28,354	25,558	34,884	24,528	21,702	22,803	26,236	23,739	22,280	25,670	29,305	36,709	26,227	30,052	28,860	32,548	25,759	30,381	28,262	25,680	48,494	28,164	26,353	29,213	27,363	262,942
Common Stock	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	-
Common Stock Shares Outstanding	4,743	4,736	4,729	4,721	4,698	4,692	4,690	4,689	4,682	4,684	4,683	4,691	4,702	4,773	4,850	4,895	4,879	4,871	4,866	4,860	4,843	4,834	4,828	4,822	4,809	4,802	4,797	4,790	4,773	4,765	4,760	4,750	4,731	4,722	4,717	4,707	4,691	4,684	4,681	4,677	4,664	4,660	4,658	4,656	4,644	4,642	4,636	4,642	4,642	4,637	4,632	3,624	3,624	3,602	3,605	3,606	3,606	3,606	3,603	3,597	3,597	3,592	3,600	3,597	3,597	3,583	3,592	3,608	3,608	3,635	3,648	3,666	3,666	3,675	3,696	3,718	3,718	3,767	3,783	3,799	3,799	3,812	3,830	3,832	3,832	3,861	3,999	4,022	4,022	3,970	4,048	4,079	4,079	4,096	4,084	4,079	-
Common Stock Total Equity	0	0	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	53	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	43	-
Current Deferred Revenue	-18,145	54,776	-3,884	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	389,239,972	387,257,903	382,294,796	353,724
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Deferred Long Term Liab	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	451,772	422,912	388,190	385,154	360,929	372,040	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,824	21,984	22,157	22,551	9,872	9,872	9,872	9,872	10,240	10,240	9,927	10,063	8,807	8,806,796	9,137,929	9,137,929	9,318,738	1,516,666	1,516,666	1,516,666	1,516,666	1,516,666	1,516,666	1,516,666	1,516,666	1,516,666	1,516,666	1,516,666	1,516,666	1,516,666	1,516,666	1,516,666	1,516,666	1,516,666	1,516,666	1,516,666	3,969	1,516,666	4,168	4,268	4,367	-9,195	4,613	4,760	-4,901,990	5,054	-5,195,347	-5,342,027	-5,488,706	-
Intangible Assets	0	0	0	0	0	0	0	4	15	26	68	157	258	371	491	610	742	886	1,037	1,188	1,351	1,527	1,709	1,891	2,085	2,292	2,506	2,719	2,945	3,183	3,428	3,673	3,931	4,201	4,478	4,763	5,067	5,384	5,708	6,033	6,377	4,481	4,695	4,909	5,144	5,382	5,642	5,906	6,191	6,479	6,767	4,410	4,656	4,836	5,017	5,198	5,387	5,580	5,660	5,912	6,204,494	6,253,764	6,514,682	6,262,804	5,629,776	5,817,572	6,005,368	861,726	961,156	1,060,586	1,160,016	1,259,447	1,358,877	1,458,306	1,557,736	1,657,166	1,756,596	1,856,025	1,955,455	2,054,885	2,154,315	2,253,744	2,353,174	0	2,552,034	0	0	0	13,661	0	0	4,906,897	0	5,200,548	5,347,374	5,494,200	5,788
Inventory	0	-186,667	-150,356	-43,306	-64,746	-52,584	291	251	114	171	-2,800	-2,787	-3,059	-3,045	-3,031	-3,017	-3,111	-3,096	-3,079	-3,063	-3,048	-3,032	-3,014	-2,998	-1,976	-2,964	-2,947	-2,929	-2,912	-2,894	-2,423	-2,857	-2,801	-2,820	-2,801	-2,782	3,730	4,286	1,547	316	1,233	1,430	1,535	1,351	1,622	2,099	1,452	1,806	1,293	735	781	621	1,228	1,411	968	1,165	849	787	752	383	404	305	258	169	39	23	103	750	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Liabilities And Stockholders Equity	2,710,529	2,707,834	2,674,673	2,654,183	2,645,553	2,551,418	2,449,911	2,474,895	2,418,788	2,417,656	2,380,712	2,442,495	2,279,451	2,165,014	2,050,921	1,841,329	1,787,827	1,793,643	1,752,997	1,769,572	1,755,343	1,753,864	1,710,166	1,699,954	1,710,556	1,731,682	1,718,572	1,736,100	1,657,179	1,728,865	1,683,480	1,643,226	1,619,926	1,631,639	1,553,633	1,584,772	1,517,011	1,521,896	1,515,881	1,497,531	1,476,143	1,341,091	1,257,160	1,279,972	1,248,160	1,286,980	1,267,459	1,254,495	1,216,260	1,265,923	1,237,036	986,766	958,327	972,700	1,000,980	1,008,041	975,919	968,638	950,732	882,076	838,318	862,720	876,941	831,395	788,874	791,219	781,340	750,137	738,170	732,053	715,581	724,784	718,039	729,752	711,394	710,212	722,544	734,179	734,187	758,247	747,209	750,417	755,259	752,995	751,171	753,237	741,978	751,233	725,072	729,653	729,559	736,345	676,237	679,411	672,319	668,723	650,804
Long Term Debt	0	3,120	53,949	93,328	99,137	4,104	49,331	3,527	18,164	3,659	3,724	3,788	3,849	4,155	3,969	4,028	4,085	4,140	4,195	4,250	4,304	4,358	4,411	4,464	6,517	13,577	13,658	13,736	13,815	23,893	23,970	22,012	22,076	22,140	22,201	22,259	22,286	3,039	384	0	45,243	0	0	0	47,225	0	0	0	65,344	0	0	0	45,000	0	0	0	57,500	0	0	0	67,500	84,855	84,700	51,173	32,500	56,605	55,634	0	0	0	0	0	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 Debt Total	0	0	26,450	22,776	27,196	0	0	0	0	0	0	0	0	0	3,969	4,028	4,085	4,140	4,195	4,250	4,304	4,358	4,411	4,464	6,517	13,577	13,658	13,736	13,815	23,893	23,970	22,012	22,076	22,140	22,201	22,259	22,286	3,039	384	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	587,824	573,619	608,958	630,936	637,843	646,239	698,688	752,868	798,780	767,647	693,431	628,943	559,622	401,406	1,796,017	1,597,105	1,574,131	1,554,977	1,542,715	1,550,532	1,540,597	1,553,394	1,584,446	1,581,335	1,295,974	1,279,139	1,243,734	1,223,858	1,191,928	1,206,584	1,191,582	1,178,270	1,160,716	1,133,471	1,143,726	1,136,602	1,114,933	1,108,111	1,077,359	1,018,024	990,646	963,502	930,626	921,676	890,238	872,857	852,371	801,277	796,258	778,782	787,356	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Net Debt	3,950	-66,432	5,951	65,114	145,698	-30,799	72,431	-54,770	13,449	-50,811	-45,664	-145,749	-97,425	-138,163	-143,441	-132,511	-109,735	-134,033	-104,015	-113,161	-125,668	-109,554	28,546	-26,540	33,488	-42,801	-50,888	-116,620	-60,347	-111,611	-83,384	-36,684	9,791	-53,109	8,137	-62,614	23,953	-7,901	-41,762	-31,959	-26,366	35,217	1,344	-18,979	-13,016	-53,186	-33,047	-67,287	-9,558	-74,537	-39,848	-58,021	-40,620	-53,115	-65,411	-67,728	-59,738	-55,884	-48,235	-56,108	-3,651	13,599	21,173	-10,844	53,022	27,135	27,526	-5,647	1,310	-4,253	8,486	-5,554	15,242	-9,884	472	3,298	2,197	-1,236	2,061	2,720	-670	-4,305	-11,709	-1,227	10,698	-3,860	-7,548	-759	7,219	-3,262	14,020	-23,494	5,236	-6,353	-29,213	-27,363	-28,618
Net Invested Capital	227,161	173,184	231,375	270,669	265,525	159,623	224,021	189,037	229,619	209,798	207,701	198,572	203,548	197,250	198,558	194,475	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Net Receivables	0	101,436	87,272	83,126	89,469	89,710	70,004	59,903	43,835	41,494	41,339	41,774	43,086	43,802	43,063	42,627	33,535	33,489	33,966	32,373	31,572	32,568	33,395	32,513	29,934	28,960	30,069	27,630	29,954	24,936	24,818	26,317	28,256	27,129	27,623	34,707	32,459	25,578	20,917	20,720	22,354	17,493	17,595	17,979	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Tangible Assets	0	0	155,602	155,517	144,564	133,695	152,866	163,682	189,616	184,289	182,085	172,803	177,617	174,810	172,274	168,013	160,061	159,334	155,526	148,522	141,854	133,148	128,247	126,547	125,904	130,161	127,632	123,714	118,979	119,805	118,157	115,549	111,487	112,690	110,218	109,706	106,737	112,353	114,249	112,666	110,376	108,500	106,160	106,175	104,147	105,673	102,742	101,098	97,755	100,052	97,242	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Net Working Capital	-1,806,893	-28,851	582,936	66,526	635,936	716,474	12,307	841,262	38,124	806,097	1,611,606	1,736,192	1,639,618	1,681,719	1,643,379	1,454,381	1,424,571	1,444,078	1,401,829	1,422,389	1,441,373	1,435,326	1,315,692	1,348,297	1,286,047	1,346,390	1,320,330	1,356,911	1,278,939	1,345,077	1,305,756	1,239,386	1,184,041	1,204,795	1,169,363	1,227,030	1,120,719	1,156,218	1,157,084	1,088,567	1,049,968	962,272	960,508	971,469	949,472	974,341	947,091	933,960	873,047	925,550	890,272	703,597	687,562	679,071	689,597	689,793	691,134	690,232	696,902	641,328	597,408	597,151	588,867	625,299	525,014	552,519	538,835	540,226	513,051	490,767	464,493	470,976	427,674	460,655	436,031	433,970	434,494	416,045	413,717	434,673	428,938	408,113	470,401	476,134	422,384	-401,780,663	-408,211,113	-405,323,517	-14,843	-398,866,909	-396,783,134	-370,693,644	-367,845,236	-364,420,571	-386,604,243	-381,644,033	-
Non Current Assets Total	2,665,556	616,329	49,598	43,941	682,229	691,290	744,165	798,991	846,134	814,951	741,691	680,223	608,968	452,198	374,187	356,116	342,363	326,737	330,141	328,296	297,197	301,528	320,657	334,629	348,962	368,482	382,264	359,877	362,573	362,574	359,520	383,912	405,239	396,859	354,427	330,736	346,065	353,649	349,592	400,881	411,118	317,524	283,809	297,123	298,235	312,176	319,712	319,859	342,413	339,550	345,837	282,466	269,981	292,735	310,421	317,230	283,656	277,096	252,464	239,507	239,643	243,591	248,626	200,574	200,167	202,253	205,463	208,624	215,896	228,677	229,017	249,917	268,505	268,162	274,410	275,315	281,956	317,034	319,352	322,421	317,147	316,087	258,554	250,428	286,554	-26,853,746	-23,866,680	-23,537,373	13,661	-26,189,286	-23,674,284	-36,532,997	-26,050,136	-24,139,990	18,659	17,960	17,111
Non Current Liabilities Other	0	0	60,177	99,755	105,757	10,914	56,329	10,713	25,542	10,886	11,133	11,250	11,113	11,739	11,721	11,947	12,169	12,265	12,445	12,649	0	0	0	10,000	10,000	10,000	11,937	15,215	27,606	30,002	28,778	28,825	28,453	30,358	31,882	31,084	29,652	30,981	30,746	30,646	32,701	79,599	30,568	31,427	44,633	41,272	40,646	41,914	46,552	49,128	50,349	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Non Current Liabilities Total	663,422	9,148	60,177	44,658	141,991	53,155	56,329	10,713	25,860	10,886	11,133	11,250	11,113	11,494	11,721	11,947	12,169	12,265	12,445	12,649	4,304	4,358	4,411	4,464	6,517	13,577	13,658	13,736	13,815	23,893	23,970	22,012	22,076	22,140	22,201	22,259	22,286	27,125	24,520	25,189	25,243	26,046	26,101	27,158	27,225	28,046	41,128	43,227	43,344	43,936	44,096	20,000	20,000	20,000	20,000	20,000	20,000	20,000	20,000	20,000	20,000	20,000	20,000	20,000	20,000	20,000	20,000	20,000	20,000	10,000	10,000	20,000	20,000	25,000	25,000	25,000	20,000	25,000	25,800	25,000	25,000	0	0	0	0	0	0	0	0	25,000	39,700	25,000	25,000	20,000	217,912,003	220,959,953	231,343
Non Currrent Assets Other	56,102	-616,329	-602,730	-630,936	-682,229	-691,290	45,720	-767,806	35,210	-786,017	-712,525	-680,223	-586,886	-430,003	1,204,511	-333,682	-273,433	-257,241	-255,313	-254,287	-229,693	-232,571	-248,573	-268,192	-281,280	-297,665	-308,327	-289,430	-286,440	-291,950	-287,339	-310,850	-327,783	-320,671	-274,128	-243,389	-255,550	-1	-273,146	-324,564	1	0	0	1	0	0	-133,672	564,672	540,075	528,821	523,122	13,999,613	14,258,294	14,415,903	14,578,580	15,119,975	15,342,665	15,229,977	15,469,861	14,478,880	15,011	15,392	15,653	15,582	7,146	7,334	7,522	2,378	2,478	2,577	2,677	2,776	2,876	2,975	3,074	3,174	3,273	3,373	3,472	3,572	3,671	3,770	3,870	3,969	4,069	-26,870,503	-23,882,988	-23,553,632	-1,089	-26,203,696	-23,688,419	-36,546,781	-26,063,734	-24,153,542	5,347	5,494	-
Noncontrolling Interest In Consolidated Entity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Other Assets	2,629,496	2,065,233	1,995,263	2,499,058	1,185,397	1,090,499	1,611,468	807,011	1,508,490	769,799	2,380,712	2,442,495	2,279,451	2,165,014	2,050,921	1,841,329	2,130,190	2,120,380	2,083,138	2,097,868	2,052,540	2,055,392	2,030,823	2,034,583	2,936	2,100,164	2,100,836	2,095,977	2,019,752	2,091,439	-452	2,027,138	-38	2,028,498	1,908,060	1,915,508	-7,528	-1,661	1,865,473	1,898,412	0	0	0	0	0	0	1,587,171	1,574,354	1,558,672	1,605,473	1,582,873	1,269,232	1,228,308	1,265,435	1,311,401	1,325,271	1,259,575	1,245,734	1,203,196	1,121,584	1,077,961	1,106,311	1,125,567	1,031,969	989,041	993,472	986,802	958,762	954,066	960,729	944,598	974,700	986,544	997,915	985,805	985,527	1,004,499	1,051,213	1,053,539	1,080,668	1,064,357	1,066,504	1,013,813	1,003,424	1,037,725	0	0	0	686,547	0	0	0	0	0	0	0	370,751
Other Current Assets	44,973	85,231	63,084	43,306	64,746	49,728	-698,489	-784,284	-798,678	740,795	856,091	940,091	967,307	1,125,857	1,164,479	1,002,070	1,009,046	1,022,686	1,006,223	1,019,435	1,057,392	1,062,415	1,059,156	1,025,822	1,006,344	968,600	920,347	923,256	890,000	905,486	894,386	855,511	818,265	799,651	854,149	870,931	836,345	821,207	792,692	681,648	645,046	706,869	705,637	683,426	669,998	893,572	873,572	824,122	820,945	807,900	807,255	626,280	627,727	606,850	605,148	603,084	612,524	615,657	630,033	566,461	575,024	591,628	591,488	595,837	559,328	561,101	547,603	515,865	495,684	477,723	464,051	446,513	423,976	426,706	412,455	413,195	417,785	390,909	391,095	413,547	404,393	405,026	459,996	476,340	434,564	27,578,123	24,576,110	24,262,847	-5,517	26,890,677	24,378,163	37,220,848	26,698,209	24,793,048	624,447	623,400	-
Other Current Liab	1,817,162	-55,123	-46,876	-90,070	-141,991	-53,155	-81,971	-1,449	-14,570	-26,809	-27,415	-26,080	-30,865	-1,229	-33,355	-30,832	-20,893	-22,828	-21,027	-18,887	-16,773	-17,010	-1,249	-17,028	-1,233	-16,810	-15,978	-19,312	-15,667	-21,214	-18,656	-19,928	-1,176	-29,985	-1,210	-27,006	1,280,014	-13,690	-9,205	-8,083	-15,057	1,088,445	-12,844	-11,379	-453	-463	-656	-676	-800	-823	-927	-703	-784	-894	-962	-1,018	-1,129	-1,309	-1,366	-1,241	-1,267	0	0	0	0	0	0	-1,286	0	0	0	0	0	-935	-953	-927	0	-1,100	-1,118	-1,154	-1,124	0	0	0	0	429,360,977	432,792,921	429,585,302	0	425,783,642	421,184,815	407,960,940	394,561,082	389,239,972	0	0	-
Other Liab	0	0	16,136	0	16,666	50,657	34,417	27,404	14,659	25,075	25,699	24,579	14,330	30,592	31,854	29,273	12,500	21,242	19,454	17,351	12,005	13,069	12,430	17,028	16,144	16,810	15,978	14,641	15,667	21,214	19,855	17,091	17,998	29,985	15,453	27,006	28,129	14,891	10,406	9,283	16,251	12,195	12,844	11,380	12,375	9,960	10,695	8,735	11,386	9,639	10,199	7,649	9,785	8,130	8,404	7,732	10,506	12,553	12,010	9,497	14,989	11,637	10,556	11,172	14,547	11,002	8,836	7,426	0	0	0	0	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 Stockholder Equity	31,271	31,094	30,707	30,168	29,733	29,473	29,112	28,767	29,055	29,279	29,109	29,158	29,239	31,323	32,889	35,550	34,672	34,508	34,222	33,983	33,258	33,079	32,875	32,351	31,647	31,493	31,296	31,100	30,338	30,182	30,031	29,871	29,158	28,891	28,764	28,577	27,977	27,915	27,854	27,788	27,339	27,289	27,245	27,183	26,791	26,807	26,610	26,822	26,689	26,761	26,789	3,224	2,855	2,709	2,783	2,946	2,782	2,806	2,801	2,732	2,335	2,417	2,824	2,812	2,663	2,352	2,369	3,107	3,156	3,910	4,211	4,836	5,303	5,024	5,777	6,401	7,137	7,840	8,496	9,057	9,435	9,479	10,114	10,203	10,529	17,294	20,869	20,324	20,862	22,965	22,318	21,464	20,921	18,346	16,656	16,250	18,112
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	93,962	20,886	21,546	22,117	22,562	23,227	0	0	0	0	26,368	26,876	27,264	28,365	29,045	29,607	30,418	31,013	31,825	32,670	24,980	25,514	26,049	26,136	26,657	27,366	27,836	28,206	28,923	29,084	29,706	28,620	29,397	30,023	30,874	31,548	32,287	32,431	29,938	29,351	30,039	25,087	24,969	24,800	25,484	24,863	24,717	24,977	24,762	24,250	24,345	23,727	24,193	24,059	24,196	24,447	24,886	25,281	25,640	24,892	24,938	24,004	23,494	23,416	23,220	22,051	21,606	21,512	21,722	20,766	19,871	18,755	18,708	17,521	17,175	16,971	17,213	16,997	17,192	17,125	17,472	17,291	17,202	17,134	17,496	16,757	16,308	16,259	14,750	14,410	14,134	13,784	13,598	13,552	13,312	12,466	-
Property Plant And Equipment Net	20,219	20,886	21,546	22,117	22,562	23,227	23,653	24,295	25,515	25,454	26,368	26,876	27,264	28,365	29,045	29,607	30,418	31,013	31,825	32,670	24,980	25,514	26,049	26,136	26,657	27,366	27,836	28,206	28,923	29,084	29,706	28,620	29,397	30,023	30,874	31,548	32,287	32,431	29,938	29,351	30,039	25,087	24,969	24,800	25,484	24,863	24,717	24,977	24,762	24,250	24,345	23,727	24,193	24,059	24,196	24,447	24,886	25,281	25,640	24,892	24,938	24,004	23,494	23,416	23,220	22,051	21,606	21,512	21,722	20,766	19,871	18,755	18,708	17,521	17,175	16,971	17,213	16,997	17,192	17,125	17,472	17,291	17,202	17,134	17,496	16,757	16,308	16,259	14,750	14,410	14,134	13,784	13,598	13,552	13,312	12,466	11,324
Property Plant Equipment	0	0	0	22,117	22,562	23,227	23,653	24,295	25,515	25,454	26,368	19,541	27,264	20,891	21,395	21,781	22,417	22,962	23,605	24,279	24,980	25,514	26,049	26,136	26,657	27,366	27,836	28,206	28,923	29,084	29,706	28,620	29,397	30,023	30,874	31,548	32,287	32,431	29,938	29,351	30,039	25,087	24,969	24,800	25,484	24,863	24,717	24,977	24,762	24,250	24,345	23,727	24,192	24,059	24,196	24,447	24,886	25,282	25,641	24,892	24,938	24,004	23,494	23,416	23,220	22,051	21,606	21,512	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Retained Earnings	229,930	227,596	221,412	216,594	211,859	205,874	200,870	194,295	188,877	183,873	178,673	173,325	168,006	163,987	159,505	154,926	153,701	150,759	150,063	146,340	143,129	138,654	132,973	131,694	131,389	130,006	127,585	125,860	124,111	122,382	121,607	120,460	118,973	118,057	116,817	115,450	114,785	113,693	112,624	111,895	111,031	110,740	109,755	108,296	107,078	106,092	104,401	103,100	100,629	98,808	96,659	95,181	94,408	92,241	90,568	88,945	87,826	87,419	86,783	86,723	85,869	85,208	83,681	82,291	81,030	80,321	79,010	77,498	76,646	75,826	74,844	73,904	73,169	72,726	71,635	70,757	70,050	68,418	67,218	66,058	64,751	63,075	62,960	62,407	61,248	60,518	60,538	59,200	58,257	57,512	55,857	54,389	53,348	51,769	50,450	49,175	46,564
Retained Earnings Total Equity	0	0	221,412	216,593	211,859	205,874	200,870	194,295	188,877	183,873	178,673	173,325	168,006	163,987	159,505	154,926	153,701	150,759	150,063	146,340	143,129	138,654	132,973	131,694	128,453	130,006	127,585	125,860	124,111	122,382	120,860	120,460	118,973	118,057	116,817	115,450	114,383	111,105	112,624	111,895	111,031	110,740	109,755	108,296	107,078	106,092	104,401	103,100	100,629	98,808	96,659	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	31,920	0	50,760	90,070	95,810	710	45,870	0	14,570	0	0	0	0	245	0	0	0	0	0	0	4,304	4,358	65,683	10,000	12,000	23,577	25,595	24,280	17,072	49,123	47,926	0	20,000	0	0	0	82,786	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Short Long Term Debt Total	40,797	9,148	60,177	99,755	201,567	11,624	102,199	10,713	40,430	10,886	11,133	11,250	11,113	11,739	11,721	11,947	12,169	12,265	12,445	12,649	4,304	4,358	63,361	4,464	64,217	13,577	13,658	9,065	13,815	23,893	23,970	19,175	35,976	22,140	37,801	22,259	53,116	27,125	24,520	25,189	25,243	75,146	26,101	27,158	27,225	28,046	41,128	43,227	43,344	43,936	44,096	20,000	20,000	20,000	20,000	20,000	20,000	20,000	20,000	20,000	20,000	41,100	58,000	24,140	82,400	55,000	55,800	20,000	27,900	21,400	31,000	22,800	40,800	25,000	25,000	25,000	25,000	25,000	25,800	25,000	25,000	25,000	25,000	25,000	40,750	25,000	25,000	25,000	37,600	25,000	39,700	25,000	33,400	20,000	0	0	-
Short Term Debt	33,235	347	50,760	90,070	95,810	710	45,870	0	14,570	3,659	0	0	245	245	0	0	0	0	0	0	4,304	4,358	58,950	57,700	57,700	23,577	25,595	24,280	17,072	49,123	47,926	13,900	13,900	0	15,600	30,830	30,830	24,086	24,136	25,189	25,243	49,100	26,101	27,158	27,225	28,046	41,128	43,227	43,344	43,936	44,096	0	0	0	0	0	0	0	0	0	0	21,100	38,000	4,140	62,400	35,000	35,800	7,900	7,900	11,400	21,000	2,800	20,800	0	0	5,000	5,000	0	0	0	0	25,000	25,000	25,000	40,750	25,000	25,000	25,000	37,600	0	0	8,400	8,400	0	0	0	-
Short Term Investments	583,993	569,004	604,313	626,055	632,589	640,352	692,995	746,343	792,026	761,531	687,594	626,195	554,611	396,300	317,061	299,075	284,090	267,529	269,286	266,721	242,258	246,473	265,157	278,984	293,627	312,226	324,293	302,581	303,402	303,259	300,277	324,484	344,820	335,571	290,571	266,307	280,507	288,098	286,398	337,134	346,016	259,275	225,362	235,307	239,686	253,668,954	260,941	259,449,877	280,870	279,079	284,133,730	234,941,389	44,080	245,939,433	262,024,511	267,293,539	58,549	224,857,566	199,044,324	189,255,597	2,405	196,023,633	202,769,189	156,839,561	282	168,052,106	169,872,748	177,857,966	0	197,187,556	197,905,950	220,001,429	0	239,415,829	246,358,581	242,698,916	0	281,313,033	283,768,879	286,629,427	0	283,348,543	228,662,576	0	257,153,717	0	9,981,614	0	0	0	0	234,179,433	0	220,325,447	219,324,637	223,219,552	234,324
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Total Assets	2,710,529	2,707,834	2,674,673	2,654,183	2,645,553	2,551,418	2,449,911	2,474,895	2,418,788	2,417,656	2,380,712	2,442,495	2,279,451	2,165,014	2,050,921	1,841,329	1,787,827	1,793,643	1,752,997	1,769,572	1,755,343	1,753,864	1,710,166	1,699,954	1,710,556	1,731,682	1,718,572	1,736,100	1,657,179	1,728,865	1,683,480	1,643,226	1,619,926	1,631,639	1,553,633	1,584,772	1,517,011	1,521,896	1,515,881	1,497,531	1,476,143	1,341,091	1,257,160	1,279,972	1,248,160	1,286,980	1,267,459	1,254,495	1,216,260	1,265,923	1,237,036	986,766	958,327	972,700	1,000,980	1,008,041	975,919	968,638	950,732	882,076	838,318	862,720	876,941	831,395	788,874	791,219	781,340	750,137	738,170	732,053	715,581	724,784	718,039	729,752	711,394	710,212	722,544	734,179	734,187	758,247	747,209	750,417	755,259	752,995	751,171	753,237	741,978	751,233	725,072	729,653	729,559	736,345	676,237	679,411	672,319	668,723	650,804
Total Current Assets	44,973	26,272	629,812	111,184	777,927	769,629	94,278	868,893	64,164	832,906	1,639,021	1,762,272	1,670,483	1,712,816	1,676,734	1,485,213	1,445,464	1,466,906	1,422,856	1,441,276	1,458,146	1,452,336	1,389,509	1,365,325	1,358,658	1,363,200	1,336,308	1,376,223	1,294,606	1,366,291	1,324,412	1,259,314	1,214,725	1,234,780	1,199,206	1,254,036	1,178,474	1,169,908	1,166,289	1,096,650	1,065,026	1,023,567	973,352	982,849	949,925	974,804	947,747	934,636	873,847	926,372	891,199	704,301	688,346	679,965	690,559	690,812	692,263	691,542	698,268	642,569	598,675	619,129	628,315	630,821	588,706	588,966	575,877	541,513	522,274	503,376	486,564	474,867	449,534	461,590	436,984	434,897	440,588	417,145	414,834	435,826	430,062	434,330	496,705	502,567	464,617	27,606,983	24,608,658	24,288,606	24,864	26,918,939	24,403,843	37,269,342	26,726,373	24,819,401	653,660	650,763	262,942
Total Current Liabilities	1,851,866	55,123	46,876	44,658	141,991	53,155	81,971	27,631	26,040	26,809	27,415	26,080	30,865	31,097	33,355	30,832	20,893	22,828	21,027	18,887	16,773	17,010	73,817	17,028	72,611	16,810	15,978	19,312	15,667	21,214	18,656	19,928	30,684	29,985	29,843	27,006	57,755	13,690	9,205	8,083	15,057	61,294	12,844	11,379	453	463	656	676	800	823	927	703	784	894	962	1,018	1,129	1,309	1,366	1,241	1,267	21,977	39,448	5,522	63,692	36,447	37,042	1,286	9,223	12,609	22,072	3,890	21,860	935	953	927	6,094	1,100	1,118	1,154	1,124	26,217	26,304	26,433	42,232	429,387,646	432,819,771	429,612,123	39,707	425,785,848	421,186,977	407,962,986	394,571,609	389,239,972	387,257,903	382,294,796	353,724
Total Liab	2,515,288	2,537,770	2,497,247	2,476,842	2,479,165	2,395,899	2,275,221	2,289,385	2,207,333	2,211,517	2,176,735	2,247,711	2,079,752	1,968,009	1,856,332	1,650,882	1,605,200	1,611,599	1,574,610	1,598,038	1,590,314	1,597,365	1,558,386	1,549,692	1,557,807	1,577,405	1,566,610	1,587,843	1,513,431	1,584,053	1,539,324	1,502,180	1,482,684	1,492,924	1,417,113	1,448,479	1,382,981	1,379,747	1,374,100	1,357,008	1,337,565	1,206,285	1,124,481	1,147,064	1,117,045	1,154,100	1,137,250	1,125,666	1,090,330	1,137,235	1,110,476	887,781	860,919	875,407	906,129	915,816	885,833	881,633	866,892	798,605	755,311	774,762	789,549	741,650	700,759	704,759	697,411	667,429	656,409	649,522	636,037	643,799	636,861	648,403	629,291	630,214	640,347	652,031	656,041	675,826	667,217	672,247	674,323	673,106	671,744	429,387,646	432,819,771	429,612,123	645,910	649,132	651,341	660,450	601,925	609,253	605,170	603,255	585,067
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Total Stockholder Equity	195,241	170,064	177,426	177,341	166,388	155,519	174,690	185,510	211,455	206,139	203,977	194,784	199,699	197,005	194,589	190,447	182,627	182,044	178,387	171,534	165,029	156,499	151,780	150,262	152,749	154,277	151,962	148,257	143,748	144,812	144,156	141,046	137,242	138,715	136,520	136,293	134,030	142,149	141,781	140,523	138,578	134,806	132,679	132,908	131,115	132,880	130,209	128,829	125,929	128,688	126,560	98,986	97,409	97,293	94,851	92,226	90,086	87,004	83,840	83,472	83,007	87,958	87,392	89,745	88,115	86,460	83,929	82,708	81,761	82,530	79,544	80,984	81,178	81,349	82,103	79,998	82,196	82,148	78,145	82,421	79,993	78,170	80,936	79,889	79,427	77,855	81,450	79,567	79,162	80,520	78,218	75,896	74,312	70,158	67,149	65,468	65,737
Treasury Stock	0	0	0	0	0	0	0	-18,113	-17,846	-17,924	-17,972	-17,867	-17,525	-15,569	-13,869	-11,204	-11,710	-11,956	-12,062	-12,191	-12,562	-12,927	-12,998	-14,053	-14,320	-14,596	-14,670	-14,801	-15,265	-15,542	-15,608	-15,781	-16,379	-16,654	-16,704	-16,900	-17,378	-17,640	-17,640	-17,728	-18,060	-18,266	-18,205	-18,291	-18,566	-18,731	-18,915	-18,734	-18,894	-18,949	-18,930	-18,774	-19,167	-20,121	-20,019	-19,828	-20,025	-19,973	-19,953	-20,063	-20,548	-20,448	-20,017	-20,028	-20,138	-20,394	-20,352	-19,620	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-

Cash Flow

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31	1994-12-31	1993-12-31
Begin Period Cash Flow	55,869	26,981	108,538	121,904	129,972	30,729	74,162	26,185	29,163	51,609	40,241	52,902	60,620	79,738	23,651	29,378	26,590	25,558	52,803	38,070	29,064	30,381	28,164	32,073	28,820	34,418	31,755	37,384	32,381	65,056	31,480
Capital Expenditures	462	426	367	867	883	1,770	1,482	1,696	1,154	2,586	3,710	3,668	2,552	2,085	1,820	4,183	4,117	5,619	3,909	2,008	2,161	4,631	2,727	2,985	3,506	1,325	1,990	863	3,014	2,000	534
Cash And Cash Equivalents Changes	0	28,888	-81,557	-13,366	-8,068	99,243	-43,433	47,977	-2,978	-22,446	11,368	-12,661	-7,718	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	-27,029	-2,278	-9,329	-1,448	-1,973	1,067	337	5,279	-7,099	-3,877	7,036	-9,563	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	-19,022	28,888	-81,557	-13,366	-8,068	99,243	-43,433	47,977	-2,978	-22,446	11,368	-12,661	-7,718	-19,119	56,087	-5,727	2,788	1,032	-27,245	14,733	9,006	-329	2,217	-3,909	3,253	-5,599	2,663	-5,629	5,003	-32,675	33,576
Change In Working Capital	-2,048	25,748	757	-1,655	1,455	-3,221	-3,090	5,263	-4,518	7,549	5,052	7,057	-9,807	2,504	-4,556	4,453	3,598	-3,727	2,311	-4,571	1,467	3,566	-415	171	-3,044	237	39	94	165	216	-111
Change Receivables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Inventory	0	0	0	0	0	0	130	990	0	331	865	0	271	92	2,082	4,313	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Liabilities	0	25,748	2,711	8,228	3,400	-570	-3,726	5,428	-9,449	14,987	9,296	240	-81	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Netincome	0	1,543	486	6,794	4,068	5,214	12,861	-613	1,777	-5,171	2,385	443	3,243	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	-1,888	757	-1,655	1,455	-3,221	-3,147	5,230	-4,518	7,408	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	2,802	3,026	3,503	4,258	4,433	4,171	4,563	5,191	5,180	5,171	4,157	3,993	3,903	3,509	3,726	4,035	3,298	3,114	3,033	3,092	3,994	3,070	2,043	2,239	2,529	2,047	1,483	1,441	1,250	986	971
Dividends Paid	-5,840	5,797	5,318	5,006	5,029	4,969	4,917	4,878	4,833	4,796	3,584	5,714	4,057	3,519	3,517	3,519	3,383	3,437	3,485	3,415	3,460	3,592	3,559	3,436	2,945	2,685	2,445	2,143	1,981	1,751	1,624
End Period Cash Flow	36,847	55,869	26,981	108,538	121,904	129,972	30,729	74,162	26,185	29,163	51,609	40,241	52,902	60,620	79,738	23,651	29,378	26,590	25,558	52,803	38,070	30,052	30,381	28,164	32,073	28,820	34,418	31,755	37,384	32,381	65,056
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
Free Cash Flow	30,388	34,621	35,094	27,792	25,522	26,002	22,163	20,445	12,969	15,857	19,263	20,894	6,590	15,766	6,860	14,176	11,121	4,688	14,623	17,393	12,846	10,974	7,765	9,239	4,939	10,063	3,006	10,821	6,840	1,417	5,625
Investments	-82,381	-252,520	-242,613	-495,848	-32,286	43,980	-105,559	-601	-114,841	-68,894	-213,838	-53,985	-28,278	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	601	424	426	1,018	585	643	0	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	80,973	14,315	-236	-219	-12,213	-24,904	-11,143	-1,409	-9,543	-1,992	-20,515	-19,147	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	25,000	28,783	26,425	19,262	15,609	19,626	7,430	10,027	9,433	8,157	8,731	11,022	10,538	10,102	5,233	8,354	7,259	6,589	6,590	8,733	6,953	6,540	8,493	8,755	8,392	7,297	6,857	6,158	5,602	4,648	4,494
Other Cashflows From Financing Activities	102,200	253,034	132,229	465,636	2,901	34,091	51,197	41,301	102,152	41,539	40,472	41,845	11,666	-24,193	62,150	50,873	47,344	29,158	-8,759	-24,471	-7,347	30,700	50,236	42,077	36,329	118,574	12,772	33,760	-2,214	50,543	11,082
Other Cashflows From Investing Activities	0	326	496	162	458	1,709	399	1,568	1,347	342	171,059	796	25,474	318	422	37	2,421	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Non Cash Items	5,566	-25,027	3,539	6,107	5,869	4,549	10,081	3,822	2,847	-439	4,909	1,683	-78,991	-110,191	-43,773	-33,297	-28,387	-159,900	-154,045	-139,508	-156,565	3,435	1,100	909	673	2,361	-3,123	4,379	3,006	-2,532	915
Sale Purchase Of Stock	-316	-933	-1,616	-7,589	585	643	582	438	438	0	-93	-636	-501	-426	-156	0	0	0	0	0	0	0	0	0	0	-984	-108	-515	-300	0	-66
Stock Based Compensation	1,139	795	667	773	603	494	410	402	407	268	243	160	80,083	111,772	50,000	35,000	29,000	160,252	160,252	151,243	160,240	459	-491	-216	-151	0	0	0	0	0	0
Total Cash From Financing Activities	32,478	246,461	125,466	453,823	-1,762	27,552	39,564	26,565	97,547	30,249	34,884	19,634	-11,796	-28,010	58,707	-15,046	33,962	15,721	-12,244	-27,885	-10,806	14,507	38,277	8,941	33,384	63,233	10,219	21,304	-4,495	48,965	5,747
Total Cash From Operating Activities	30,850	35,047	35,461	28,659	26,405	27,772	23,645	22,141	14,123	18,443	22,972	24,562	9,142	17,850	8,680	18,359	15,238	10,307	18,532	19,401	15,007	15,605	10,492	12,224	8,445	11,388	4,996	11,684	9,854	3,416	6,159
Total Cashflows From Investing Activities	0	-252,620	-242,484	-495,848	-32,711	43,919	-106,642	-729	-114,648	-71,138	-46,488	-56,857	-5,064	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30	2000-03-31
Begin Period Cash Flow	75,580	54,226	34,641	55,869	42,423	29,768	65,483	26,981	61,697	56,797	156,999	108,538	149,902	155,162	144,458	121,904	146,298	116,460	125,810	129,972	113,912	34,815	31,004	30,729	56,378	64,546	125,685	74,162	135,504	107,354	55,859	26,185	75,249	29,664	84,873	29,163	35,026	66,282	57,148	51,609	39,929	24,757	46,137	40,241	81,232	74,175	110,514	52,902	118,473	83,944	78,021	60,620	73,115	85,411	87,728	79,738	75,884	68,235	76,108	23,651	27,501	36,827	56,844	29,378	27,865	28,274	29,147	26,590	25,653	22,514	32,754	25,558	42,884	29,228	36,002	52,803	26,236	23,739	48,130	38,070	33,605	76,709	73,227	30,052	59,060	32,548	47,559	30,381	41,162	25,680	63,494	28,164	36,853	29,213	27,363	32,073
Capital Expenditures	3	13	159	287	22	313	120	15	170	275	174	88	171	209	366	121	491	126	142	124	278	274	843	375	188	404	647	243	759	289	311	337	371	134	364	285	468	411	1,509	198	1,874	838	933	65	1,381	835	498	955	1,244	585	484	239	854	526	451	254	295	266	589	671	1,673	1,164	764	582	1,857	1,020	778	462	1,614	1,539	1,775	691	1,838	927	799	344	808	342	642	217	717	639	618	187	1,203	924	523	1,981	718	670	752	588	331	648	1,254	752
Cash And Cash Equivalents Changes	0	0	19,585	-21,228	0	0	-35,715	38,502	-34,716	4,900	-100,202	48,461	-41,364	-5,260	13,754	19,504	-24,394	29,838	-9,350	-4,162	16,060	79,097	3,811	275	-25,649	-8,168	-61,139	51,523	-61,342	28,150	51,495	29,674	-49,064	45,585	-55,209	55,710	-5,863	-31,256	9,134	5,539	11,680	15,172	-21,380	5,896	-40,991	7,056	-36,339	57,613	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	1,661	154	0	0	-3,379	-4,699	-4,100	-76	899	999	453	-409	-552	-8,821	755	559	-1,611	-1,151	1,352	822	-1,749	-2,398	-54	1,043	-2,416	2,494	-2,229	432	-182	2,316	-2,355	498	7,033	103	-6,950	-2,116	472	1,495	-4,858	211	449	320	1,928	-412	2,811	2,708	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-38,733	21,354	19,585	-21,228	13,446	12,655	-35,715	38,502	-34,716	4,900	-100,202	48,461	-41,364	-5,260	10,704	22,554	-24,394	29,838	-9,350	-4,162	16,060	79,097	3,811	275	-25,649	-8,168	-61,139	51,523	-61,342	28,150	51,495	29,674	-49,064	45,585	-55,209	55,710	-5,863	-31,256	9,134	5,539	11,680	15,172	-21,380	5,896	-40,991	7,056	-36,339	57,613	-65,571	34,529	5,923	17,401	-12,496	-12,296	-2,317	7,990	3,854	7,649	-7,872	52,456	-3,850	-9,326	-20,017	27,465	1,513	-409	-874	2,557	937	3,139	-10,240	7,196	-17,326	13,656	-6,773	-16,801	26,567	2,497	-24,390	10,060	4,465	-43,104	3,482	43,175	-29,008	26,512	-15,010	17,177	-10,781	15,483	-37,814	35,329	-8,689	7,640	1,850	-4,710
Change In Working Capital	-2,367	-882	130	1,663	18,924	5,284	3,280	-1,740	693	443	-289	-90	-472	-1,497	1,411	-1,097	2	1,385	-382	450	-2,812	1,996	-2,307	-98	-3,387	2,070	-2,133	360	319	2,224	1,861	859	-857	742	-3,304	-1,099	6,008	2,956	1,298	-2,713	4,131	-877	3,366	-1,567	3,361	-1,347	4,849	194	-10,001	-721	3,245	-2,329	4,236	651	1,231	-3,614	-2,511	2,996	589	-5,631	5,518	3,320	1,415	-5,800	2,511	-944	4,340	-2,309	-3,698	556	1,381	-1,966	10	1,293	1,367	-360	-4,352	1,216	1,194	-2,629	3,052	0	1,965	-3,550	3,215	402,203,047	6,430,450	-1,010	7	398,852,066	-2,083,775	-1,343	511	690	-736	-293
Change Receivables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	0	0	0	0	0	0	0	0	0	0	1,375	10,264	10,264	-10,264	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Inventory	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	398	130	0	148	461	990	1,230	425	544	0	588	147	89	331	0	0	661	865	617	401	384	0	0	57	0	271	546	215	507	92	0	374	179	2,082	97	132	0	4,313	4,257	0	0	0	0	1,542	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Liabilities	0	0	-1,319	1,795	0	0	7,031	3,165	3,926	539	-770	-984	-853	-1,064	1,920	8,225	-286	902	1,187	1,597	-3,671	1,309	-588	2,380	-3,135	1,050	289	-1,930	2,734	1,897	2,045	-1,248	1,793	229	-10,397	-1,074	12,971	5,103	980	-4,067	9,000	-955	2,959	-1,708	1,398	-909	2,095	-2,343	0	0	0	0	0	0	0	0	0	42	99	0	0	96	155	90	0	124	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Netincome	0	0	-584	278	2,903	1,944	-1,373	-1,085	634	79	1,464	-381	2,766	122	2,693	255	-1,228	3,850	331	1,115	2,874	-802	1,971	1,171	10,966	389	88	1,418	-2,663	1,651	203	196	771	736	8	262	-6,456	310	-283	1,258	563	903	256	664	780	-423	364	-278	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	0	-69	-69	-8,712	5,664	3,092	-1,932	693	298	-342	108	-472	-1,497	1,411	-1,097	50	1,337	-382	450	-2,812	1,996	-2,307	-98	-3,090	2,070	-2,133	2,273	5,263	308	-202	0	-4,518	0	0	0	7,408	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	670	673	727	732	732	739	766	789	816	821	1,289	577	1,145	1,002	1,047	1,064	1,052	1,122	1,121	1,138	988	991	1,109	1,083	1,090	1,088	1,199	1,186	1,158	1,156	1,505	1,372	1,267	1,262	1,323	1,328	1,413	1,281	1,247	1,230	1,262	933	979	983	998	950	1,021	1,025	1,020	968	1,034	881	901	843	883	883	883	853	981	1,010	1,119	908	934	1,074	879	777	858	783	778	771	791	774	797	942	555	740	765	745	838	744	770	1,025	1,057	1,141	947	977	484	662	392	561	539	551	443	595	591	610
Dividends Paid	-1,463	1,463	1,459	1,455	1,450	1,448	1,449	1,450	1,445	1,448	1,211	1,214	1,229	1,247	1,267	1,263	1,260	1,259	1,256	1,254	1,250	1,249	1,237	1,233	1,230	1,232	1,230	1,225	1,222	1,223	1,219	1,214	1,210	1,210	1,209	1,204	1,201	1,200	1,201	1,194	1,195	1,195	1,194	2,287	2,287	1,142	1,144	1,141	1,142	1,142	891	881	878	879	882	880	881	881	880	875	877	881	881	880	842	843	848	849	854	857	862	864	864	870	874	878	847	852	857	859	860	865	866	869	869	904	907	912	916	880	875	887	889	849	849	849
End Period Cash Flow	36,847	75,580	54,226	34,641	55,869	42,423	29,768	65,483	26,981	61,697	56,797	156,999	108,538	149,902	155,162	144,458	121,904	146,298	116,460	125,810	129,972	113,912	34,815	31,004	30,729	56,378	64,546	125,685	74,162	135,504	107,354	55,859	26,185	75,249	29,664	84,873	29,163	35,026	66,282	57,148	51,609	39,929	24,757	46,137	40,241	81,232	74,175	110,514	52,902	118,473	83,944	78,021	60,620	73,115	85,411	87,728	79,738	75,884	68,235	76,108	23,651	27,501	36,827	56,844	29,378	27,865	28,274	29,147	26,590	25,653	22,514	32,754	25,558	42,884	29,228	36,002	52,803	26,236	23,739	48,130	38,070	33,605	76,709	73,227	30,052	59,060	32,548	47,559	30,381	41,162	25,680	63,494	28,164	36,853	29,213	27,363
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	3,596	9,383	7,020	10,399	2,384	14,487	11,781	5,969	9,053	8,892	9,032	8,117	8,501	5,450	7,668	6,173	4,106	8,310	5,986	7,120	7,389	9,278	2,730	6,605	6,872	7,182	1,848	6,261	1,601	8,046	5,314	5,484	3,695	5,470	645	3,159	5,581	4,434	3,446	2,396	6,166	3,001	6,952	3,144	6,337	1,654	8,717	4,186	-3,906	3,859	6,006	631	7,700	3,620	4,439	6	451	6,880	3,076	-3,547	3,572	10,046	4,067	-3,509	4,023	1,224	6,506	-631	-2,978	2,246	4,826	593	2,310	3,687	6,091	2,535	9,340	3,998	3,675	379	4,867	3,400	5,049	-470	3,505	3,299	4,506	-337	1,473	3,441	2,094	757	3,404	3,130	952	1,754
Investments	-28,539	-19,148	-4,766	-29,636	-77,044	18,139	-25,307	-45,087	-37,616	-38,644	-58,058	-130,732	-159,759	-120,908	-195,952	-18,999	-22,982	-12,739	11,140	-7,705	19,071	29,899	-5,922	932	-11,956	-24,690	-39,200	-29,713	3,485	-20,958	12,343	4,217	-52,724	-20,712	-34,267	-7,138	-3,360	-37,216	-8,881	-19,437	-113,293	-69,136	-3,179	-28,230	-6,017	-11,358	-53,372	16,763	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	89	93	250	169	96	112	98	118	111	83	102	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-39,310	-5,740	95,033	-45,227	31,300	-14,637	14,505	-65	-64	-61	-306	302	-59	-57	-219	-55	-55	-54	-54	-53	-10,053	-2,053	-7,060	-2,018	-3,356	-12,470	-12,474	1,147	-124	308	-1,969	-1,585	740	1,405	-6,666	-199	-569	-2,109	1,399	-124	-1,916	-1,351	-1,027	-11,915	-5,348	-2,225	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	3,802	7,648	6,280	7,270	7,439	6,453	8,024	6,867	6,454	6,646	6,795	6,530	5,233	5,711	5,827	2,491	4,204	1,956	4,981	4,468	5,730	6,930	2,527	4,439	-2,159	3,654	2,956	2,979	2,954	2,745	1,621	2,707	2,129	2,451	2,577	2,276	4,481	-318	1,930	2,064	1,486	2,179	2,655	2,412	2,130	2,834	2,444	3,615	2,962	3,291	2,620	1,665	3,048	2,551	2,503	2,000	1,288	1,516	695	1,734	1,536	2,404	2,272	2,142	1,588	2,153	1,818	1,700	1,358	1,837	1,797	1,597	1,307	1,955	1,749	1,580	2,510	2,046	2,012	2,164	2,535	975	1,417	2,026	1,599	849	2,242	1,850	1,657	2,572	2,348	1,917	2,465	2,208	2,123	1,958
Other Cashflows From Financing Activities	19,628	32,638	0	-538	103,513	119,144	-5,798	94,159	-3,819	35,635	-72,194	172,607	113,341	113,177	199,831	35,966	-4,368	35,368	-25,364	-2,735	-6,760	38,138	9,659	-6,946	-11,872	10,044	-22,492	75,517	-54,997	42,248	33,621	20,429	1,849	61,340	-19,755	58,718	-1,484	2,422	17,022	23,579	-50,221	82,508	-22,990	31,082	-42,838	29,754	14,973	40,213	-43,713	28,333	-15,329	28,998	-16,016	-28,926	-10,359	32,758	6,254	14,198	-6,628	48,786	39,487	-16,300	48,513	41,572	2,744	5,115	27,808	11,676	8,249	12,223	-9,731	8,418	-12,232	17,068	-2,953	-10,643	-9,970	-5,911	-16,463	7,873	-9,258	-2,552	-4	4,467	-4,775	10,284	-13,253	25,843	7,541	-5,088	517	55,666	-8,735	3,573	2,159	15,380
Other Cashflows From Investing Activities	0	0	154	1,585	-4,325	2,025	159	125	-369	451	-399	415	273	23	129	314	35	34	81	308	-2,513	2,959	-1,581	2,844	-544	490	-92	545	-237	36	1,117	652	-729	706	-673	2,043	-62	354	-199	249	170,922	49	88	0	502	162	98	35	327	356	323	37	318	236	229	0	422	318	226	226	37	23	23	0	2,421	2,406	2,309	1,470	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Non Cash Items	2,801	775	-981	627	-26,764	2,171	-323	-111	122	-233	540	291	2,612	-263	-540	144	696	-789	-109	-214	1,504	1,172	-404	335	7,217	-813	-316	431	-2,892	881	-124	530	595	407	-11	-24	-3,629	-200	-645	660	121,728	289	-3	370	-732,387	53	900	16	-3,492,860	906	-409	-15	-264,853	101	274	-21	1,900,532	1,780	1,400	11	147,232	4,578	210	261	-499,237	259	268	120	-552,047	621	2,632	905	-550,212	426	3,220	949	-552,794	333	274	552	921,783	2,038	1,227	641	-1,053	-402,200,650	-6,428,147	388	135	-398,851,088	2,083,734	220	316	284	227	231
Sale Purchase Of Stock	-218	-45,143	63,505	-98	-238	-695	-695	-695	-566	-4	-245	-801	-2,452	-1,816	-2,967	420	130	179	118	158	177	125	215	126	141	119	105	217	106	78	84	170	119	52	108	159	0	0	0	0	93	0	0	-93	-57	-99	-263	-217	-174	-144	0	0	0	-102	-191	-133	-51	-20	-15	-70	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Stock Based Compensation	302	300	154	394	309	153	154	179	228	84	87	268	240	127	180	226	207	97	98	201	104	69	69	252	48	55	55	252	47	49	48	258	158	52	52	145	39	38	38	153	25	21	25	172	86,717	0	0	21,340	80,083	0	0	24,968	111,772	0	0	27,403	50,000	0	0	26,067	35,000	0	0	25,705	29,000	0	0	20,488	160,252	0	0	19,522	160,252	0	0	40,334	151,243	0	0	35,883	160,240	0	0	40,736	0	0	0	37,884	0	0	0	32,696	0	0	0	43,011
Total Cash From Financing Activities	-13,814	31,106	17,177	-1,991	88,128	103,186	-22,348	77,495	-5,784	34,201	-73,612	170,661	109,723	110,175	198,859	35,066	-5,553	34,233	-26,557	-3,885	-7,887	36,961	8,584	-10,106	-20,021	8,850	-23,695	74,430	-66,191	41,026	32,409	19,321	694	60,121	-20,914	57,646	-8,022	1,172	14,768	22,331	-52,116	81,258	-25,241	30,982	-41,813	16,598	8,219	36,630	-49,815	26,123	-16,221	28,116	-16,894	-31,430	-11,432	31,745	4,863	13,297	-7,463	48,010	-23,790	-17,181	47,632	-21,707	-8,098	4,272	26,960	10,827	7,395	11,366	-10,593	7,554	-13,096	16,198	-3,826	-11,520	-10,816	-6,763	-17,320	7,014	-10,118	-3,417	-870	3,599	-5,644	9,380	-14,160	24,932	-1,776	-5,968	-359	46,380	-9,624	2,725	1,310	14,531
Total Cash From Operating Activities	3,599	9,396	7,179	10,686	2,362	14,800	11,901	5,984	8,883	9,167	9,206	8,205	8,672	5,659	8,034	6,294	4,597	8,436	6,128	7,244	7,667	9,552	3,573	6,980	7,060	7,586	2,495	6,504	2,360	8,335	5,625	5,821	4,066	5,604	1,009	3,444	6,049	4,845	4,955	2,594	8,041	3,839	7,884	3,209	7,718	2,489	9,214	5,141	-2,661	4,444	6,490	870	8,554	4,146	4,890	260	745	7,146	3,665	-2,876	5,246	11,210	4,830	-2,927	5,879	2,245	7,284	-169	-1,363	3,785	6,601	1,284	4,148	4,615	6,890	2,879	10,148	4,340	4,318	596	5,584	4,038	5,667	-282	4,708	4,223	5,029	1,644	2,191	4,111	2,846	1,345	3,735	3,778	2,206	2,506
Total Cashflows From Investing Activities	0	0	-4,771	-29,923	-77,044	-105,331	-25,268	-44,977	-37,815	-38,468	-35,796	-130,405	-159,759	-121,094	-196,189	-18,806	-23,438	-12,831	11,079	-7,521	16,280	32,584	-8,346	3,401	-12,688	-24,604	-39,939	-29,411	2,489	-21,211	13,461	4,532	-53,824	-20,140	-35,304	-5,380	-3,890	-37,273	-10,589	-19,386	55,755	-69,924	-4,023	-28,295	-6,896	-12,031	-53,772	15,842	0	8,031	4,068	0	0	0	0	0	0	0	3,248	7,322	0	0	0	52,099	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

Income Statement

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31	1994-12-31	1993-12-31
Cost Of Revenue	24,446	0	0	0	0	7,226	12,090	13,145	13,226	13,224	9,871,332	8,846,277	8,282,173	7,381,156	7,241,936	7,372,531	5,864,856	5,412,267	4,967,755	4,588,229	4,862,278	0	0	0	0	0	0	0	0	0	0
Depreciation And Amortization	2,802	15	243	484	609	734	860	986	1,136	1,310	921	1,047	3,903	3,509	3,726	4,035	3,298	3,114	3,033	3,092	3,994	3,070	2,043	2,239	2,529	2,047	1,483	1,441	1,250	986	971
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
Ebit	31,501	44,185	33,760	23,869	19,043	27,708	21,463	22,475	21,737	19,372	19,822	24,648	22,370	23,423	18,428	27,159	28,728	24,288	20,358	23,489	22,331	25,856	34,177	34,804	31,278	28,350	26,622	24,467	22,688	17,267	17,109
Ebitda	31,501	44,200	34,003	24,353	19,652	28,442	22,323	23,461	22,873	20,682	20,743	25,695	26,273	26,932	22,154	31,193	32,026	27,402	23,391	26,581	26,324	28,925	36,220	37,043	33,807	30,396	28,105	25,908	23,939	18,253	18,080
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
Extraordinary Items	0	0	0	0	0	445	-2,927	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	113,074	94,614	88,422	82,870	79,897	82,691	76,784	59,664	57,170	62,289	-9,807,875	-8,782,994	-8,220,792	-7,326,588	-7,190,829	-7,323,921	-5,822,291	-5,373,409	-4,930,004	-4,548,704	-4,823,068	37,450	37,637	35,955	34,854	9,017	8,318	7,847	7,300	6,309	7,026
Income Before Tax	31,501	36,889	33,760	23,869	19,043	23,635	18,634	14,431	14,091	12,519	12,553	16,406	15,571	15,207	7,093	12,388	10,789	9,210	9,136	12,543	9,490	8,761	12,485	12,749	12,551	10,683	10,524	9,424	8,461	6,990	8,257
Income Tax Expense	6,501	8,106	7,335	4,607	3,434	4,009	8,267	4,404	4,658	3,960	3,822	5,384	5,033	5,105	1,861	4,035	3,530	2,621	2,546	3,811	2,537	2,222	3,992	3,994	4,159	3,386	3,667	3,267	2,859	2,343	2,830
Interest Expense	38,617	7,296	3,419	3,988	6,321	4,073	3,068	3,839	3,602	3,645	4,032	5,296	6,799	8,216	11,335	14,770	17,939	15,079	11,222	10,946	12,840	17,094	21,692	22,055	18,728	17,666	16,098	15,043	14,227	10,276	9,785
Interest Income	113,074	81,475	69,008	66,907	66,932	64,553	60,055	56,168	54,244	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
Net Income	25,000	28,783	26,425	19,262	15,609	19,626	10,367	10,027	9,433	8,559	8,731	11,022	10,538	10,102	5,233	8,354	7,259	6,589	6,590	8,733	6,953	6,540	8,493	8,755	8,392	7,297	6,857	6,158	5,602	4,648	4,494
Net Income Applicable To Common Shares	0	28,783	26,425	19,262	15,609	19,626	7,430	10,027	9,433	8,157	8,731	11,022	10,538	10,102	5,233	8,354	7,259	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income From Continuing Ops	25,000	28,783	26,425	19,262	15,609	19,626	21,954	18,835	18,749	8,157	8,731	11,022	10,538	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income	74,457	74,179	65,589	62,919	60,611	60,480	56,987	52,329	50,642	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
Non Recurring	0	0	0	0	0	0	850	1,200	1,200	4,365	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Operating Income	31,501	44,185	33,760	23,869	19,043	27,708	21,463	21,149	20,447	26,756	18,076,604	17,290,085	17,464,258	19,644,676	15,709,495	17,138,152	16,628,514	14,312,094	13,013,783	14,268,358	13,345,844	25,856	34,177	34,804	31,278	28,350	26,622	24,467	22,688	17,267	17,109
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
Other Operating Expenses	923	941	-54,662	-59,001	60,854	54,983	794	14,022	14,125	14,303	10,904,532	11,357,415	33,183,741	23,101,254	28,780,577	28,300,193	27,246,820	25,312,423	22,945,599	21,934,116	25,358,686	11,595	3,460	1,151	3,576	19,333	18,304	16,620	15,388	10,958	10,084
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
Reconciled Depreciation	2,802	15	243	4,258	4,433	4,171	4,563	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	923	941	792	631	932	1,181	794	877	899	1,079	1,033	1,068	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	36,575	34,078	31,907	30,790	29,859	28,988	26,988	28,279	28,206	28,164	26,170	25,349	26,817	23,820	25,743	15,991	14,639	13,521	13,251	3,353	12,234	12,300	11,844	10,749	10,566	10,229	8,042	9,904	9,873	8,673	8,162
Tax Provision	6,501	8,106	7,335	4,607	3,434	4,009	7,262	4,404	4,658	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	923	941	-54,662	-59,001	-60,854	-54,983	794	877	899	1,079	1,033,200	2,511,138	24,901,568	15,720,098	21,538,641	20,927,662	21,381,964	19,900,156	17,977,844	17,345,887	20,496,408	-11,595	-3,460	-1,151	-3,576	19,333	18,304	16,620	15,388	10,958	10,084
Total Other Income Expense Net	31,501	-7,296	33,760	23,869	19,043	-4,073	-2,829	-6,718	-6,356	-14,890	-5,523,251	-883,363	-1,893,353	-4,437,564	-8,615,997	-4,749,685	-5,839,019	-5,102,249	-3,878,154	-1,725,058	-3,855,572	-17,094	-21,692	-22,055	-18,728	-17,666	-16,098	-15,043	-14,227	-10,276	-8,852
Total Revenue	113,074	94,614	88,422	82,870	79,897	82,691	76,784	72,809	70,396	75,513	63,457	63,283	61,381	54,568	51,107	48,610	42,565	38,858	37,751	39,525	39,210	37,450	37,637	35,955	34,854	9,017	8,318	7,847	7,300	6,309	7,026

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30	2000-03-31
Cost Of Revenue	5,669	-3,439	-4,062	0	0	0	0	0	0	0	0	0	1	0	-1	0	0	0	0	0	1,177	1,357	3,214	1,478	7,052	2,023	1,155	1,860	1,377	2,035	1,345	3,329	1,549	1,211	1,131	1,282	2,540	1,503	2,023	1,560	-30	2,306,237	2,344,056	2,479,379	651	2,254,970	-830	2,147,321	1,759	-1,138	2,133,513	2,912,958	1,795	1,816,287	1,804,516	1,773,477	3,033	1,722,525	1,818,032	1,941,844	3,866	1,718,701	1,742,769	1,960,968	4,950	1,411,373	1,499,194	1,422,160	0	1,337,218	1,357,645	1,342,495	0	1,200,578	1,210,880	1,226,841	0	1,104,205	1,174,839	1,149,692	0	1,243,562	1,200,892	1,095,427	0	1,024,772	1,031,163	1,026,254	0	0	0	0	0	5,610,544	5,655,760	5,671,091
Depreciation And Amortization	670	673	727	732	732	739	4	11	816	42	89	101	113	120	119	132	144	151	151	163	176	182	182	194	207	214	213	226	238	245	245	258	270	277	285	304	317	324	324	345	258	214	214	235	238	260	1,021	1,025	1,020	968	1,034	881	901	843	883	883	883	853	981	1,010	1,119	908	934	1,074	879	777	858	783	778	771	791	774	797	942	555	740	765	745	838	744	770	1,025	1,057	1,141	947	977	484	662	392	561	539	551	443	595	591	610
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	3,973	9,035	16,367	14,808	12,393	9,464	11,663	10,376	6,528	9,926	10,936	9,743	8,497	8,894	8,993	5,247	7,679	4,769	8,765	7,975	8,597	10,598	4,792	7,158	2,516	6,972	5,939	6,036	6,121	5,850	4,443	6,061	5,067	5,551	5,801	5,318	8,976	932	4,643	4,821	3,836	4,893	5,731	5,362	5,008	6,147	4,960	7,037	6,039	6,721	5,652	3,958	6,791	5,629	5,761	5,242	4,366	4,955	3,642	5,465	5,491	7,260	7,164	7,244	7,142	7,856	7,034	6,696	5,971	6,494	6,229	5,595	4,838	5,638	5,101	4,781	6,413	5,638	5,532	5,907	6,391	4,257	5,223	6,459	5,995	5,194	7,551	7,115	7,209	9,253	9,133	8,582	9,318	8,971	8,554	7,961
Ebitda	4,643	9,708	17,094	15,540	13,125	10,203	11,667	10,387	7,344	9,968	11,025	9,844	8,610	9,014	9,112	5,379	7,823	4,920	8,916	8,138	8,773	10,780	4,974	7,352	2,723	7,186	6,152	6,262	6,359	6,095	4,688	6,319	5,337	5,828	6,086	5,622	9,293	1,256	4,967	5,166	4,094	5,107	5,945	5,597	5,246	6,407	5,981	8,061	7,059	7,689	6,686	4,839	7,691	6,472	6,643	6,125	5,249	5,807	4,624	6,475	6,609	8,168	8,098	8,318	8,021	8,633	7,893	7,480	6,748	7,265	7,020	6,369	5,635	6,580	5,656	5,521	7,178	6,382	6,369	6,651	7,162	5,282	6,280	7,600	6,942	6,171	8,035	7,777	7,601	9,813	9,672	9,133	9,761	9,566	9,145	8,571
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	445	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	30,033	29,015	23,734	25,139	25,615	24,090	22,784	22,125	22,362	22,606	22,281	21,173	21,996	20,907	20,484	19,482	20,077	19,927	19,997	19,896	20,129	22,198	20,158	20,206	19,989	19,764	18,806	18,225	17,986	18,313	17,996	15,185	17,819	17,391	17,798	17,388	24,187	17,143	17,335	16,848	16,586	-2,290,571	-2,328,445	-2,463,783	14,937	-2,239,135	15,495	-2,130,408	16,053	16,239	-2,117,318	-2,900,064	15,295	-1,803,302	-1,790,996	-1,760,709	13,267	-1,709,453	-1,806,128	-1,929,775	12,772	-1,706,528	-1,730,866	-1,949,206	11,106	-1,400,491	-1,488,540	-1,412,238	9,802	-1,327,283	-1,347,843	-1,333,176	9,691	-1,190,904	-1,201,443	-1,217,892	10,617	-1,094,729	-1,165,103	-1,139,995	9,812	-1,233,668	-1,191,129	-1,085,686	9,237	-1,015,991	-1,021,218	-1,016,766	8,931	10,191	9,653	8,861	9,297	-5,601,527	-5,646,832	-5,662,378
Income Before Tax	4,643	9,708	7,893	9,258	9,516	8,194	10,362	8,817	8,231	8,346	8,870	8,313	6,525	7,167	7,186	2,993	5,195	2,132	6,214	5,502	6,390	8,732	3,013	5,500	4,795	5,364	4,219	4,256	4,228	3,954	3,427	4,023	3,136	3,662	3,891	3,402	7,645	3,310	2,799	3,015	1,829	3,181	3,961	3,583	3,117	4,217	3,559	5,513	4,405	4,971	3,869	2,325	4,996	3,671	3,654	2,886	1,708	2,110	772	2,503	2,224	3,615	3,344	3,206	2,597	3,161	2,610	2,421	1,858	2,605	2,510	2,237	1,751	2,778	2,415	2,191	3,680	2,946	2,821	3,097	3,482	1,249	1,880	2,879	2,104	906	3,108	2,643	2,332	3,923	3,446	2,784	3,591	3,219	3,085	2,854
Income Tax Expense	841	2,060	1,613	1,987	2,077	1,741	2,338	1,950	1,777	1,700	2,075	1,783	1,292	1,456	1,357	502	991	176	1,233	1,034	660	1,802	486	1,061	4,017	1,710	1,263	1,277	1,274	1,209	1,059	1,316	1,007	1,211	1,314	1,126	2,761	1,040	869	951	343	1,002	1,306	1,171	987	1,383	1,115	1,899	1,444	1,680	1,249	660	1,948	1,120	1,151	886	420	594	77	769	688	1,211	1,072	1,064	1,009	1,008	793	721	499	768	713	640	445	824	666	611	1,170	899	809	932	947	274	463	853	505	57	867	793	675	1,351	1,098	867	1,125	1,011	962	896
Interest Expense	786	10,998	9,201	6,282	3,609	2,009	897	781	798	801	866	954	940	845	882	1,322	1,576	1,666	1,581	1,498	1,395	1,057	852	769	780	734	734	820	973	985	957	924	934	904	872	892	888	915	921	921	1,002	992	1,005	1,031	1,131	1,240	1,400	1,524	1,634	1,750	1,782	1,633	1,795	1,958	2,107	2,356	2,658	2,844	2,870	2,963	3,267	3,645	3,820	4,038	4,545	4,695	4,424	4,275	4,113	3,889	3,719	3,358	3,086	2,860	2,686	2,590	2,733	2,692	2,711	2,810	2,909	3,008	3,343	3,580	3,891	4,288	4,443	4,472	4,877	5,330	5,688	5,797	5,728	5,751	5,469	5,106
Interest Income	30,033	29,015	27,796	26,230	24,480	20,999	18,538	17,458	17,690	17,633	16,945	16,740	17,337	16,714	16,472	16,384	16,777	16,808	16,682	16,665	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	3,802	7,648	6,280	7,270	7,439	6,453	8,024	6,867	6,454	6,646	6,795	6,530	5,233	5,711	5,829	2,491	4,204	1,956	4,981	4,468	5,730	6,930	2,527	4,439	778	3,654	2,956	2,979	2,954	2,745	2,368	2,707	2,129	2,451	2,577	2,276	4,884	2,270	1,930	2,064	1,486	2,179	2,655	2,412	2,130	2,834	2,444	3,615	2,962	3,291	2,620	1,665	3,048	2,551	2,503	2,000	1,288	1,516	695	1,734	1,536	2,404	2,272	2,142	1,588	2,153	1,818	1,700	1,358	1,837	1,797	1,597	1,307	1,955	1,749	1,580	2,510	2,046	2,012	2,164	2,535	975	1,417	2,026	1,599	849	2,242	1,850	1,657	2,572	2,348	1,917	2,465	2,208	2,123	1,958
Net Income Applicable To Common Shares	0	0	6,280	7,270	7,439	6,453	8,024	6,867	6,454	6,646	6,795	6,530	5,233	5,711	5,827	2,491	4,204	1,956	4,981	4,468	5,730	6,930	2,527	4,439	-2,159	3,654	2,956	2,979	2,954	2,745	1,621	2,707	2,129	2,451	2,577	2,276	4,482	-319	1,930	2,064	1,486	2,179	2,655	2,412	2,130	2,834	2,444	3,615	2,962	3,291	2,620	1,665	3,048	2,551	2,503	2,000	1,288	1,516	695	1,734	1,537	2,403	2,272	2,142	1,588	2,153	1,818	1,700	0	0	0	0	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 From Continuing Ops	3,802	7,648	6,280	7,271	7,439	6,453	8,024	6,867	6,454	6,646	6,795	6,530	5,233	5,711	5,827	2,491	4,204	1,956	4,981	4,468	5,730	6,930	2,527	4,439	12,365	3,654	2,956	2,979	11,762	2,745	1,621	2,707	11,445	2,451	2,577	2,276	4,482	-319	1,930	2,064	1,486	2,179	2,655	2,412	2,130	2,834	2,444	3,615	0	3,291	2,620	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income	17,898	18,017	18,595	19,948	20,871	18,990	17,641	16,677	16,892	16,832	16,079	15,786	16,397	15,869	15,591	15,062	15,201	15,142	15,101	15,167	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Operating Income Net Other	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
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	-16,150	22,950	-6,800	850	12,000	-12,000	1,200	0	1,200	0	0	0	4,365	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	4,643	9,708	17,094	15,540	12,393	9,464	11,663	10,376	6,528	9,926	10,936	9,743	8,497	8,894	8,993	5,247	7,679	4,769	8,765	7,975	8,597	10,598	4,792	7,158	2,516	6,972	5,939	6,036	21,149	5,850	4,443	5,601	20,447	5,551	5,801	5,318	26,756	4,986	5,406	4,964	18,076,604	4,350,653	4,475,138	4,021,577	17,290,085	4,060,221	4,960	4,896,857	17,464,258	6,721	4,744,057	4,338,699	19,644,676	4,247,444	4,665,149	3,994,609	15,709,495	4,108,940	3,614,697	4,220,436	17,138,152	4,185,967	4,345,078	4,727,375	16,628,514	4,271,383	4,258,174	3,803,072	14,312,094	3,755,098	3,707,918	3,242,681	13,013,783	3,393,102	3,237,816	2,948,235	14,268,358	3,094,966	3,470,881	3,233,991	13,345,844	3,422,251	3,431,674	3,154,712	5,995	1,837,794	3,140,294	2,703,585	7,209	9,253	9,133	8,582	9,318	2,566,402	2,513,722	2,314,473
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	31,059	218	170	332	757	266	184	276	220	162	284	126	933	140	81	324	932	231	145	268	1,181	212	255	349	794	213	118	249	877	101	325	3,551	899	208	271	235	1,079	17,763	13,579	13,343	1,033,170	2,603,184	2,541,336	2,766,956	2,511,789	2,525,537	10,536	2,436,560	19,449	6,783	8,489,398	5,849,173	17,561	6,392,529	6,220,144	6,873,802	17,882	7,269,825	7,544,548	6,434,667	11,057	7,445,580	7,032,549	6,346,079	10,164	7,034,376	6,561,942	6,591,156	9,994	6,313,135	6,105,035	6,191,852	9,608	5,747,600	5,646,960	5,642,761	9,112	5,977,790	5,504,538	6,039,078	9,314	6,057,509	6,242,977	7,011,293	3,242	9,393,852	8,107,025	8,552,159	1,722	938	520	280	21	9,694,170	9,368,774	9,190,476
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	670	673	727	732	732	739	4	11	11	42	89	101	1,145	1,002	1,047	1,064	1,052	1,122	1,121	1,138	988	991	1,109	1,083	1,090	1,088	1,199	1,186	1,158	1,156	1,505	1,372	1,267	1,262	1,323	1,328	1,413	1,281	1,247	1,230	1,262	933	979	983	998	950	1,021	1,025	1,020	968	1,034	881	901	843	883	883	883	853	981	1,010	1,119	908	934	1,074	879	777	858	783	778	771	791	774	797	942	555	740	765	745	838	744	770	1,025	1,057	1,141	947	977	484	662	392	561	539	551	443	595	591	610
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	203	218	170	332	215	266	184	276	220	162	284	126	85	140	82	324	288	231	145	268	365	212	255	349	214	213	118	249	229	101	325	222	185	208	271	235	200	255	332	293	251	297	197	288	153	271	356	289	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	8,548	9,046	9,098	8,960	8,583	8,963	8,277	8,255	8,324	8,126	7,846	7,611	8,291	7,580	7,384	7,534	7,520	7,334	7,474	7,531	6,700	7,216	7,383	7,281	6,448	6,784	6,938	6,818	6,770	7,252	7,105	7,152	7,092	6,974	7,025	7,115	7,567	6,909	6,909	6,781	7,245	6,299	6,167	6,459	6,885	7,220	7,436	7,087	7,367	6,716	6,653	6,081	6,259	5,688	5,896	5,977	6,941	6,065	6,490	5,328	6,122	3,386	3,927	3,744	4,034	3,665	3,031	3,469	3,527	3,403	3,255	3,335	3,644	3,200	3,223	3,184	5,759	2,993	3,073	3,046	2,921	3,160	2,989	3,164	2,859	2,998	3,219	3,224	0	2,307	2,929	2,843	0	0	0	0
Tax Provision	841	2,060	1,613	1,987	2,077	1,741	2,338	1,950	1,777	1,700	2,075	1,783	1,292	1,456	1,357	502	991	176	1,233	1,034	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Operating Expenses	6,385	218	170	332	757	266	184	276	220	162	284	126	932	140	82	324	932	231	145	268	1,181	212	255	349	794	213	118	249	877	101	325	222	899	208	271	235	1,079	17,763	13,579	13,343	1,033,200	296,947	197,280	287,577	2,511,138	270,567	-10,536	289,239	-19,449	6,783	6,355,885	2,936,215	-17,561	4,576,242	4,415,628	5,100,325	-17,882	5,547,300	5,726,516	4,492,823	-11,057	5,726,879	5,289,780	4,385,111	-10,164	5,623,003	5,062,748	5,168,996	-9,994	4,975,917	4,747,390	4,849,357	-9,608	4,547,022	4,436,080	4,415,920	-9,112	4,873,585	4,329,699	4,889,386	-9,314	4,813,947	5,042,085	5,915,866	-3,242	8,369,080	7,075,862	7,525,905	-1,722	-938	-520	-280	21	4,083,626	3,713,014	3,519,385
Total Other Income Expense Net	4,643	9,708	-9,201	-6,282	-2,877	-1,270	-1,301	-1,559	1,703	-1,580	-2,066	-1,430	-1,972	-1,727	-1,807	-2,254	-2,484	-2,637	-2,551	-2,473	-2,207	-1,866	-1,779	-1,658	2,279	-1,608	-1,720	-1,780	-16,921	-1,896	-1,016	-1,578	-17,311	-1,889	-1,910	-1,916	-19,764	-5,926	-2,607	-1,949	-5,533,976	-1,169,755	-514,206	-438,800	-896,653	157,075	-1,400	616,222	-1,904,519	-1,750	-874,877	-2,013,655	-4,447,775	-576,548	-1,011,209	-1,108,313	-8,621,382	-1,998,560	-2,842,431	-1,717,874	-4,759,849	-571,317	-1,001,288	-1,521,362	-5,847,211	-1,110,308	-1,647,973	-1,381,982	-5,109,601	-1,149,758	-1,197,806	-1,005,869	-3,885,538	-614,795	-822,729	-757,448	-1,733,921	-149,093	-649,964	-137,326	-3,861,580	-2,173,211	-1,551,454	-275,678	-3,891	-932,082	-31,822	-60,110	-4,877	-5,330	-5,688	-5,797	-5,728	652,649	571,499	539,893
Total Revenue	35,702	25,576	23,734	25,139	25,615	24,090	22,784	22,125	22,362	22,606	22,281	21,173	21,997	20,907	20,483	19,482	20,077	19,927	19,997	19,896	20,129	22,198	20,158	20,206	19,989	19,764	18,806	18,225	17,986	18,313	17,996	18,514	17,819	17,391	17,798	17,388	24,187	17,143	17,335	16,848	16,586	15,666	15,611	15,596	15,588	15,835	15,495	16,913	16,053	16,239	16,195	12,894	15,295	12,985	13,520	12,768	13,267	13,072	11,904	12,069	12,772	12,173	11,903	11,762	11,106	10,882	10,654	9,922	9,802	9,935	9,802	9,319	9,691	9,674	9,437	8,949	10,617	9,476	9,736	9,697	9,812	9,894	9,763	9,741	9,237	8,781	9,945	9,488	8,931	10,191	9,653	8,861	9,297	9,017	8,928	8,713

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

Gross Profit (+$)
totalRevenue	113,074
Cost of Revenue	-24,446
Gross Profit	113,074	88,628

Operating Income (+$)
Gross Profit	113,074
Operating Expense	-923
Operating Income	31,501	112,151

Operating Expense (+$)
Research Development	0
Selling General Administrative	36,575
Selling And Marketing Expenses	923
Operating Expense	923	37,498

Net Interest Income (+$)
Interest Income	113,074
Interest Expense	-38,617
Other Finance Cost	-0
Net Interest Income	74,457

Pretax Income (+$)
Operating Income	31,501
Net Interest Income	74,457
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	31,501	0 EBIT - interestExpense = -7,116 31,501 63,617
Interest Expense	38,617
Earnings Before Interest and Taxes (EBIT)	31,501	70,118
Earnings Before Interest and Taxes (EBITDA)	31,501

After tax Income (+$)
Income Before Tax	31,501
Tax Provision	-6,501
Net Income From Continuing Ops	25,000	25,000
Net Income	25,000
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	923
Total Other Income/Expenses Net	31,501	-74,457

Technical Analysis of Chemung Financial Corp
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 Chemung Financial Corp. The general trend of Chemung Financial Corp 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 Chemung Financial Corp'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 Chemung Financial Corp.

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

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

The bullish price targets are: 44.84 < 47.63 < 48.22.

The bearish price targets are: 42.87 > 42.80 > 42.29.

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

Chemung Financial Corp 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 Chemung Financial Corp. The current macd is 0.23935412.

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

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

Chemung Financial Corp 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 Chemung Financial Corp. The current adx is 28.49.

The long score for the Directional Movement Index (DMI) is 4/7.
The longshort score for the Directional Movement Index (DMI) is 4/(-7 +7).

PLUS_ID > MINUS_DI: The +DI line is above the -DI line. This indicates a bullish signal in the market, as the positive directional movement is currently stronger than the negative directional movement, showing that buyers have the upper hand. Market psychology suggests that traders are optimistic, expecting further price increases, and are more willing to buy Chemung Financial Corp shares, leading to potential upward momentum in its price. +1
PLUS_ID > MINUS_DI && ADX > 25 && ADX trending up: The ADX is above 25 and indicates a strong bullish trend. The ADX is trending up, so the bullish trend is strengthening.

Chemung Financial Corp 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 Chemung Financial Corp. The current sar is 39.51.

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

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

Chemung Financial Corp 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 Chemung Financial Corp. The current rsi is 62.82. The current phase is Correction in bear market.

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

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

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

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

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

Original usage

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

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

How you can use RSI (Divergence)

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

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

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

Source: Tradingview.com

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

Use tradingview to add indicators

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

Tradingview

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

View tool on Tradingview.com

RSI divergence

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

There are four types of divergences:

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

Regular bullish divergence

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

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

Source: Tradingview.com

Regular bearish divergence

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

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

Source: Tradingview.com

Hidden bullish divergence

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

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

Source: Tradingview.com

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

Hidden bearish divergence

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

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

Source: Tradingview.com

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

Chemung Financial Corp 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 Chemung Financial Corp. The current phase is Correction in bear market.

The long score for the Stochastic Oscillator is 2/6.
The longshort score for the Stochastic Oscillator is 0/(-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 below the STOCH %D 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 Chemung Financial Corp price going down in the near term. -2
Trending up: The STOCH %K is trending up. +1

Chemung Financial Corp 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 Chemung Financial Corp. The current cci is 126.47.

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

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

Chemung Financial Corp 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 Chemung Financial Corp. The current cmo is 35.98.

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

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

Chemung Financial Corp 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 Chemung Financial Corp. The current willr is -25.58139535.

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

Chemung Financial Corp 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 Chemung Financial Corp.

Chemung Financial Corp 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 Chemung Financial Corp. The current atr is 1.12074532.

Chemung Financial Corp 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 Chemung Financial Corp. The current obv is -604,214.

Chemung Financial Corp 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 Chemung Financial Corp. The current mfi is 44.55.

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

Chemung Financial Corp Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for Chemung Financial Corp.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

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

6.3. Candlestick Patterns

Chemung Financial Corp Daily Candlestick Chart

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of Chemung Financial Corp based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	62.822
Ma 20	Greater than	Ma 50	41.259
Ma 50	Greater than	Ma 100	41.982
Ma 100	Greater than	Ma 200	44.984
Open	Greater than	Close	43.250
Total			2/5 (40.0%)

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Quick analysis of Chemung Financial Corp (30 sec.)

What can you expect buying and holding a share of Chemung Financial Corp? (30 sec.)

How much money do you get?

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1. Valuation of Chemung Financial Corp (5 min.)

$43.80

$41.10

$-8.62 - $51.48

$32.47 - $92.58

2. Growth of Chemung Financial Corp (5 min.)

Is Chemung Financial Corp growing?

How much money is Chemung Financial Corp making?

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

3. Financial Health of Chemung Financial Corp (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 Chemung Financial Corp? (5 min.)

What can you expect buying and holding a share of Chemung Financial Corp?

Speculation

Investing

How much money are you going to get?

When do you get the money?

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Linear %

Fundamentals of Chemung Financial Corp

About Chemung Financial Corp

Financial Health

Valuation

1.1. Profitability of Chemung Financial Corp.

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 Chemung Financial Corp.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

1.2.2. Operating Ratio

Trends

1.3. Liquidity of Chemung Financial Corp.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Banks - Regional)

1.3.2. Quick Ratio

Trends

1.4. Solvency of Chemung Financial Corp.

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 Chemung Financial Corp

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Banks - Regional)

Chemung Financial Corp
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