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EZTEC Empreendimentos e Participações S.A










Financial Health of Eztec




Comparing to competitors in the Real Estate-Development industry




  Industry Rankings  


EZTEC Empreendimentos e Participações S.A
Buy, Hold or Sell?

Should you buy, hold or sell Eztec?

I guess you are interested in EZTEC Empreendimentos e Participações S.A. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

Let's analyse Eztec

Let's start. I'm going to help you getting a better view of EZTEC Empreendimentos e Participações S.A. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

  1. Company's Financial Health
    A deep dive into the books. How are the numbers doing? Is EZTEC Empreendimentos e Participações S.A even making a profit? Is the company skyrocketing? Or is it sinking like the Titanic. The trend is your friend.
  2. Market Valuation
    Finally, you now have an insight of how EZTEC Empreendimentos e Participações S.A is doing in the market. If the company is worth buying. The latest step is to find out how other investors value EZTEC Empreendimentos e Participações S.A. The closing price on 2022-12-02 was R$15.48 per share. Is the company over- or underpriced?
  3. Key Performance Indicators
    A total overlook on how the company is doing. Based on the (trends in) the key performance indicators.
EZTEC Empreendimentos e Participações S.A Daily Candlestick Chart

Summary

Financial Health

Profitability Details
 Compared to previous yearCompared to industry
The company is making a huge profit.
Using its assets, the company is less efficient in making profit.
Using its investors money, the company is inefficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating efficient.
The company is inefficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared 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 yearCompared to industry
The company is very able to pay all its debts by selling its assets.
The company is very able to pay all its debts with equity.

1.1. Profitability of EZTEC Empreendimentos e Participações S.A.

1.1. Profitability
1.1.1. Net Profit Margin

Measures how much net profit Eztec earns for each R$1 of revenue.

  • Above 10% is considered healthy but always compare Eztec to the Real Estate-Development industry mean.
  • A Net Profit Margin of 37.6% means that R$0.38 for each R$1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of EZTEC Empreendimentos e Participações S.A:

  • The MRQ is 37.6%. The company is making a huge profit. +2
  • The TTM is 37.3%. The company is making a huge profit. +2
Trends
Current periodCompared to+/- 
MRQ37.6%TTM37.3%+0.2%
TTM37.3%YOY46.9%-9.6%
TTM37.3%5Y35.5%+1.8%
5Y35.5%10Y37.0%-1.5%
Compared to industry (Real Estate-Development)
PeriodCompanyIndustry (mean)+/- 
MRQ37.6%5.0%+32.6%
TTM37.3%2.9%+34.4%
YOY46.9%3.9%+43.0%
5Y35.5%5.4%+30.1%
10Y37.0%7.1%+29.9%
1.1.2. Return on Assets

Shows how efficient Eztec is using its assets to generate profit.

  • Above 5% is considered healthy but always compare Eztec to the Real Estate-Development industry mean.
  • 1.9% Return on Assets means that Eztec generated R$0.02 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of EZTEC Empreendimentos e Participações S.A:

  • The MRQ is 1.9%. Using its assets, the company is less efficient in making profit.
  • The TTM is 1.7%. Using its assets, the company is less efficient in making profit.
Trends
Current periodCompared to+/- 
MRQ1.9%TTM1.7%+0.2%
TTM1.7%YOY2.6%-0.8%
TTM1.7%5Y1.7%0.0%
5Y1.7%10Y2.7%-0.9%
Compared to industry (Real Estate-Development)
PeriodCompanyIndustry (mean)+/- 
MRQ1.9%0.3%+1.6%
TTM1.7%0.4%+1.3%
YOY2.6%0.4%+2.2%
5Y1.7%0.5%+1.2%
10Y2.7%0.6%+2.1%
1.1.3. Return on Equity

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

  • Above 15%-20% is considered healthy but always compare Eztec to the Real Estate-Development industry mean.
  • 2.4% Return on Equity means Eztec generated R$0.02 for each R$1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of EZTEC Empreendimentos e Participações S.A:

  • The MRQ is 2.4%. Using its investors money, the company is inefficient in making profit. -1
  • The TTM is 2.1%. Using its investors money, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ2.4%TTM2.1%+0.3%
TTM2.1%YOY2.9%-0.9%
TTM2.1%5Y2.0%+0.1%
5Y2.0%10Y3.3%-1.3%
Compared to industry (Real Estate-Development)
PeriodCompanyIndustry (mean)+/- 
MRQ2.4%0.9%+1.5%
TTM2.1%1.1%+1.0%
YOY2.9%1.3%+1.6%
5Y2.0%1.4%+0.6%
10Y3.3%1.8%+1.5%

1.2. Operating Efficiency of EZTEC Empreendimentos e Participações S.A.

1.2. Operating Efficiency
1.2.1. Operating Margin

Measures how efficient Eztec is operating .

  • Measures how much profit Eztec makes for each R$1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
  • Above 15% is considered healthy but always compare Eztec to the Real Estate-Development industry mean.
  • An Operating Margin of 20.0% means the company generated R$0.20  for each R$1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of EZTEC Empreendimentos e Participações S.A:

  • The MRQ is 20.0%. The company is operating efficient. +1
  • The TTM is 16.2%. The company is operating efficient. +1
Trends
Current periodCompared to+/- 
MRQ20.0%TTM16.2%+3.8%
TTM16.2%YOY33.3%-17.1%
TTM16.2%5Y21.7%-5.5%
5Y21.7%10Y12.9%+8.9%
Compared to industry (Real Estate-Development)
PeriodCompanyIndustry (mean)+/- 
MRQ20.0%7.3%+12.7%
TTM16.2%3.8%+12.4%
YOY33.3%5.6%+27.7%
5Y21.7%8.4%+13.3%
10Y12.9%7.5%+5.4%
1.2.2. Operating Ratio

Measures how efficient Eztec is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Real Estate-Development industry mean).
  • An Operation Ratio of 1.41 means that the operating costs are R$1.41 for each R$1 in net sales.

Let's take a look of the Operating Ratio trends of EZTEC Empreendimentos e Participações S.A:

  • The MRQ is 1.407. The company is inefficient in keeping operating costs low. -1
  • The TTM is 1.448. The company is inefficient in keeping operating costs low. -1
Trends
Current periodCompared to+/- 
MRQ1.407TTM1.448-0.041
TTM1.448YOY1.297+0.151
TTM1.4485Y1.416+0.032
5Y1.41610Y0.815+0.601
Compared to industry (Real Estate-Development)
PeriodCompanyIndustry (mean)+/- 
MRQ1.4071.321+0.086
TTM1.4481.248+0.200
YOY1.2971.101+0.196
5Y1.4161.024+0.392
10Y0.8150.802+0.013

1.3. Liquidity of EZTEC Empreendimentos e Participações S.A.

1.3. Liquidity
1.3.1. Current Ratio

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

  • Above 1.5 is considered healthy (always compare to Real Estate-Development industry mean).
  • A Current Ratio of 5.47 means the company has R$5.47 in assets for each R$1 in short-term debts.

Let's take a look of the Current Ratio trends of EZTEC Empreendimentos e Participações S.A:

  • The MRQ is 5.474. The company is very able to pay all its short-term debts. +2
  • The TTM is 5.668. The company is very able to pay all its short-term debts. +2
Trends
Current periodCompared to+/- 
MRQ5.474TTM5.668-0.194
TTM5.668YOY6.389-0.721
TTM5.6685Y6.426-0.758
5Y6.42610Y3.697+2.729
Compared to industry (Real Estate-Development)
PeriodCompanyIndustry (mean)+/- 
MRQ5.4741.663+3.811
TTM5.6681.629+4.039
YOY6.3891.591+4.798
5Y6.4261.670+4.756
10Y3.6971.413+2.284
1.3.2. Quick Ratio

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

  • Above 1 is considered healthy but always compare Eztec to the Real Estate-Development industry mean.
  • A Quick Ratio of 4.75 means the company can pay off R$4.75 for each R$1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of EZTEC Empreendimentos e Participações S.A:

  • The MRQ is 4.754. The company is very able to pay all its short-term debts with the most liquid assets. +2
  • The TTM is 5.147. The company is very able to pay all its short-term debts with the most liquid assets. +2
Trends
Current periodCompared to+/- 
MRQ4.754TTM5.147-0.393
TTM5.147YOY6.688-1.541
TTM5.1475Y5.387-0.240
5Y5.38710Y2.948+2.439
Compared to industry (Real Estate-Development)
PeriodCompanyIndustry (mean)+/- 
MRQ4.7540.239+4.515
TTM5.1470.238+4.909
YOY6.6880.274+6.414
5Y5.3870.260+5.127
10Y2.9480.212+2.736

1.4. Solvency of EZTEC Empreendimentos e Participações S.A.

1.3. Liquidity
1.4.1. Debt to Asset Ratio

Measures how much % of Eztec assets are financed with debt.

  • Below 1 (100%) is considered healthy but always compare Eztec to Real Estate-Development industry mean.
  • A Debt to Asset Ratio of 0.19 means that Eztec assets are financed with 19.0% credit (debt) and the remaining percentage (100% - 19.0%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of EZTEC Empreendimentos e Participações S.A:

  • The MRQ is 0.190. The company is very able to pay all its debts by selling its assets. +2
  • The TTM is 0.158. The company is very able to pay all its debts by selling its assets. +2
Trends
Current periodCompared to+/- 
MRQ0.190TTM0.158+0.032
TTM0.158YOY0.125+0.033
TTM0.1585Y0.130+0.028
5Y0.13010Y0.168-0.038
Compared to industry (Real Estate-Development)
PeriodCompanyIndustry (mean)+/- 
MRQ0.1900.627-0.437
TTM0.1580.630-0.472
YOY0.1250.633-0.508
5Y0.1300.606-0.476
10Y0.1680.595-0.427
1.4.2. Debt to Equity Ratio

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

  • Below 2 is considered healthy but always compare Eztec to the Real Estate-Development industry mean.
  • A Debt to Equity ratio of 23.5% means that company has R$0.23 debt for each R$1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of EZTEC Empreendimentos e Participações S.A:

  • The MRQ is 0.235. The company is very able to pay all its debts with equity. +2
  • The TTM is 0.191. The company is very able to pay all its debts with equity. +2
Trends
Current periodCompared to+/- 
MRQ0.235TTM0.191+0.044
TTM0.191YOY0.144+0.047
TTM0.1915Y0.151+0.039
5Y0.15110Y0.208-0.056
Compared to industry (Real Estate-Development)
PeriodCompanyIndustry (mean)+/- 
MRQ0.2351.787-1.552
TTM0.1911.836-1.645
YOY0.1441.778-1.634
5Y0.1511.663-1.512
10Y0.2081.678-1.470

2. Market Valuation of EZTEC Empreendimentos e Participações S.A

2. Earnings Per Share
2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every R$1 in earnings Eztec generates.

  • Above 15 is considered overpriced but always compare Eztec to the Real Estate-Development industry mean.
  • A PE ratio of 44.52 means the investor is paying R$44.52 for every R$1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of EZTEC Empreendimentos e Participações S.A:

  • The EOD is 32.448. Good. +1
  • The MRQ is 44.522. Good. +1
  • The TTM is 46.216. Good. +1
Trends
Current periodCompared to+/- 
EOD32.448MRQ44.522-12.074
MRQ44.522TTM46.216-1.694
TTM46.216YOY63.896-17.679
TTM46.2165Y147.464-101.247
5Y147.46410Y101.573+45.890
Compared to industry (Real Estate-Development)
PeriodCompanyIndustry (mean)+/- 
EOD32.44816.427+16.021
MRQ44.52219.908+24.614
TTM46.21623.146+23.070
YOY63.89626.337+37.559
5Y147.46424.755+122.709
10Y101.57320.652+80.921
2.2. Price Earnings to Growth Ratio

Measures the predicted future growth of Eztec.

  • Lower is better.
  • A PEG ratio of 1 means the market price of the stock and the expected future earnings are on par.

Let's take a look of the Price Earnings to Growth Ratio trends of EZTEC Empreendimentos e Participações S.A:

  • The MRQ is 220.597. Seems overpriced? -1
  • The TTM is 31.579. Seems overpriced? -1
Trends
Current periodCompared to+/- 
MRQ220.597TTM31.579+189.018
TTM31.579YOY312.082-280.503
TTM31.5795Y55.371-23.792
5Y55.37110Y116.447-61.075
Compared to industry (Real Estate-Development)
PeriodCompanyIndustry (mean)+/- 
MRQ220.5970.172+220.425
TTM31.5790.016+31.563
YOY312.0820.018+312.064
5Y55.3710.018+55.353
10Y116.4470.022+116.425

2. Book Value per Share
2.3. Price to Book Ratio

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

  • At or below 1 is considered healthy (always compare to Real Estate-Development industry mean).
  • A PB ratio of 1.05 means the investor is paying R$1.05 for each R$1 in book value.

Let's take a look of the Price to Book Ratio trends of EZTEC Empreendimentos e Participações S.A:

  • The EOD is 0.765. Very good. +2
  • The MRQ is 1.050. Good. +1
  • The TTM is 0.936. Very good. +2
Trends
Current periodCompared to+/- 
EOD0.765MRQ1.050-0.285
MRQ1.050TTM0.936+0.114
TTM0.936YOY1.730-0.794
TTM0.9365Y1.741-0.804
5Y1.74110Y1.845-0.104
Compared to industry (Real Estate-Development)
PeriodCompanyIndustry (mean)+/- 
EOD0.7650.555+0.210
MRQ1.0500.642+0.408
TTM0.9360.710+0.226
YOY1.7300.696+1.034
5Y1.7410.681+1.060
10Y1.8450.541+1.304
2. Total Gains per Share

3. Summary

3.1. Key Performance Indicators

The key performance indicators of EZTEC Empreendimentos e Participações S.A compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-5 Year+/-10 Year+/-
Book Value Change Per Share---0.2770.101-374%0.521-153%0.313-188%0.314-188%
Book Value Growth--0.8080.8080%0.813-1%0.8110%0.813-1%
Book Value Per Share--20.23020.048+1%18.800+8%16.268+24%13.807+47%
Book Value Per Share Growth---0.0140.005-393%0.027-150%0.015-189%0.022-162%
Current Ratio--5.4745.668-3%6.389-14%6.426-15%3.697+48%
Debt To Asset Ratio--0.1900.158+20%0.125+52%0.130+46%0.168+13%
Debt To Equity Ratio--0.2350.191+23%0.144+63%0.151+55%0.208+13%
Dividend Per Share--0.0890.281-68%0.399-78%0.361-75%0.263-66%
Dividend Per Share Growth---0.275-0.825+201%0.093-396%-0.258-6%-0.169-38%
Eps--0.4770.414+15%0.549-13%0.343+39%0.418+14%
Eps Growth--0.202-0.176+187%-0.062+131%-0.710+452%-0.400+298%
Gross Profit Margin--1.0001.0000%1.0000%1.0000%1.0000%
Net Profit Margin--0.3760.373+1%0.469-20%0.355+6%0.370+1%
Operating Margin--0.2000.162+23%0.333-40%0.217-8%0.129+56%
Operating Ratio--1.4071.448-3%1.297+8%1.416-1%0.815+73%
Pb Ratio0.765-37%1.0500.936+12%1.730-39%1.741-40%1.845-43%
Pe Ratio32.448-37%44.52246.216-4%63.896-30%147.464-70%101.573-56%
Peg Ratio--220.59731.579+599%312.082-29%55.371+298%116.447+89%
Price Per Share15.480-37%21.24018.723+13%32.225-34%27.596-23%24.193-12%
Price To Total Gains Ratio-82.579+27%-113.306-92.768-18%43.816-359%7.610-1589%-12.518-89%
Profit Growth--84.87877.253+10%79.591+7%67.176+26%73.133+16%
Quick Ratio--4.7545.147-8%6.688-29%5.387-12%2.948+61%
Return On Assets--0.0190.017+10%0.026-25%0.017+10%0.027-28%
Return On Equity--0.0240.021+13%0.029-20%0.020+17%0.033-28%
Revenue Growth--0.8340.791+5%0.807+3%0.757+10%0.782+7%
Total Gains Per Share---0.1870.382-149%0.920-120%0.673-128%0.577-132%
Total Gains Per Share Growth---3.480-5.372+54%-0.033-99%-2.951-15%-4.164+20%
Usd Book Value--857472396.200848929432.400+1%816954406.450+5%694558905.110+23%584607589.160+47%
Usd Book Value Change Per Share---0.0530.019-374%0.100-153%0.060-188%0.060-188%
Usd Book Value Per Share--3.8803.845+1%3.606+8%3.120+24%2.648+47%
Usd Dividend Per Share--0.0170.054-68%0.076-78%0.069-75%0.050-66%
Usd Eps--0.0920.079+15%0.105-13%0.066+39%0.080+14%
Usd Price Per Share2.969-37%4.0743.591+13%6.181-34%5.293-23%4.640-12%
Usd Profit--20220898.60017534260.100+15%23845439.100-15%14696185.910+38%17668050.190+14%
Usd Revenue--53827902.80047315189.950+14%50044791.650+8%38859178.680+39%45219305.040+19%
Usd Total Gains Per Share---0.0360.073-149%0.176-120%0.129-128%0.111-132%
 EOD+4 -1MRQTTM+19 -16YOY+11 -245Y+17 -1810Y+18 -17

3.2. Fundamental Score

Let's check the fundamental score of EZTEC Empreendimentos e Participações S.A based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-1532.448
Price to Book Ratio (EOD)Between0-10.765
Net Profit Margin (MRQ)Greater than00.376
Operating Margin (MRQ)Greater than00.200
Quick Ratio (MRQ)Greater than14.754
Current Ratio (MRQ)Greater than15.474
Debt to Asset Ratio (MRQ)Less than10.190
Debt to Equity Ratio (MRQ)Less than10.235
Return on Equity (MRQ)Greater than0.150.024
Return on Assets (MRQ)Greater than0.050.019
Total7/10 (70.0%)

3.3. Technical Score

Let's check the technical score of EZTEC Empreendimentos e Participações S.A based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5036.994
Ma 20Greater thanMa 5016.539
Ma 50Greater thanMa 10019.323
Ma 100Greater thanMa 20018.680
OpenGreater thanClose14.990
Total2/5 (40.0%)



Latest Balance Sheet

Balance Sheet of 2022-09-30. Currency in BRL. All numbers in thousands.

Summary
Total Assets5,519,036
Total Liabilities1,048,377
Total Stockholder Equity4,470,659
 As reported
Total Liabilities 1,048,377
Total Stockholder Equity+ 4,470,659
Total Assets = 5,519,036

Assets

Total Assets5,519,036
Total Current Assets2,380,632
Long-term Assets2,380,632
Total Current Assets
Cash And Cash Equivalents 38,463
Short-term Investments 847,061
Net Receivables 334,196
Inventory 1,160,099
Total Current Assets  (as reported)2,380,632
Total Current Assets  (calculated)2,379,819
+/- 813
Long-term Assets
Property Plant Equipment 54,396
Intangible Assets 1,911
Other Assets 2,547,802
Long-term Assets  (as reported)3,138,404
Long-term Assets  (calculated)2,604,109
+/- 534,295

Liabilities & Shareholders' Equity

Total Current Liabilities434,896
Long-term Liabilities534,190
Total Stockholder Equity4,470,659
Total Current Liabilities
Short Long Term Debt 57,415
Accounts payable 67,389
Other Current Liabilities 292,361
Total Current Liabilities  (as reported)434,896
Total Current Liabilities  (calculated)417,165
+/- 17,731
Long-term Liabilities
Long term Debt Total 425,546
Other Liabilities 108,644
Long-term Liabilities  (as reported)534,190
Long-term Liabilities  (calculated)534,190
+/-0
Total Stockholder Equity
Common Stock2,888,997
Retained Earnings 1,678,714
Capital Surplus -40,754
Other Stockholders Equity -90,168
Total Stockholder Equity (as reported)4,470,659
Total Stockholder Equity (calculated)4,436,789
+/- 33,870
Other
Capital Stock2,888,997
Cash And Equivalents813
Cash and Short Term Investments 886,337
Common Stock Shares Outstanding 220,989
Liabilities and Stockholders Equity 5,519,036
Net Debt 435,109
Net Invested Capital 4,945,044
Net Tangible Assets 4,468,748
Net Working Capital 1,945,736



Balance Sheet

Currency in BRL. All numbers in thousands.

 Trend2022-09-302022-06-302022-03-312021-12-312021-09-302021-06-302021-03-312020-12-312020-09-302020-06-302020-03-312019-12-312019-09-302019-06-302019-03-312018-12-312018-09-302018-06-302018-03-312017-12-312017-09-302017-06-302017-03-312016-12-312016-09-302016-06-302016-03-312015-12-312015-09-302015-06-302015-03-312014-12-312014-09-302014-06-302014-03-312013-12-312013-09-302013-06-302013-03-312012-12-312012-09-302012-06-302012-03-312011-12-312011-09-302011-06-302011-03-312010-12-312010-09-302010-06-302010-03-312009-12-312009-09-302009-06-302009-03-312008-12-312008-09-302008-06-302008-03-312007-12-312007-09-302007-06-302007-03-312006-12-31
> Total Assets 
254,337
248,972
742,514
869,625
916,215
918,061
930,505
906,889
916,341
962,984
1,007,943
1,084,232
1,133,161
1,178,355
1,234,826
1,328,116
1,381,471
1,457,404
1,555,247
1,633,756
1,774,278
1,945,878
2,043,706
2,081,744
2,142,761
2,244,055
2,412,874
2,594,083
2,849,400
3,006,808
3,175,156
3,391,457
3,415,876
3,207,837
3,228,104
3,178,072
3,291,023
3,369,550
3,306,297
3,381,578
3,516,165
3,536,509
3,479,729
3,562,066
3,103,748
3,016,695
2,968,654
2,948,343
2,974,076
2,992,783
3,093,779
4,183,302
4,275,916
4,354,424
4,408,244
4,525,852
4,716,450
4,798,961
4,888,118
5,059,992
5,075,498
5,067,339
5,388,323
5,519,036
5,519,0365,388,3235,067,3395,075,4985,059,9924,888,1184,798,9614,716,4504,525,8524,408,2444,354,4244,275,9164,183,3023,093,7792,992,7832,974,0762,948,3432,968,6543,016,6953,103,7483,562,0663,479,7293,536,5093,516,1653,381,5783,306,2973,369,5503,291,0233,178,0723,228,1043,207,8373,415,8763,391,4573,175,1563,006,8082,849,4002,594,0832,412,8742,244,0552,142,7612,081,7442,043,7061,945,8781,774,2781,633,7561,555,2471,457,4041,381,4711,328,1161,234,8261,178,3551,133,1611,084,2321,007,943962,984916,341906,889930,505918,061916,215869,625742,514248,972254,337
   > Total Current Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,263,087
2,343,486
2,339,519
2,364,476
1,713,909
1,674,455
1,644,389
1,604,578
1,644,936
1,531,679
1,530,626
2,606,799
2,444,496
2,197,030
2,147,044
2,299,523
2,147,664
2,263,672
2,325,359
2,212,807
2,203,071
2,219,960
2,473,337
2,380,632
2,380,6322,473,3372,219,9602,203,0712,212,8072,325,3592,263,6722,147,6642,299,5232,147,0442,197,0302,444,4962,606,7991,530,6261,531,6791,644,9361,604,5781,644,3891,674,4551,713,9092,364,4762,339,5192,343,4862,263,0870000000000000000000000000000000000000000
       Cash And Cash Equivalents 
10,820
2,929
6,151
481,711
14,234
247,338
246,341
13,029
9,847
181,801
17,613
10,851
128,447
154,342
114,622
134,335
163,326
244,177
244,408
249,941
228,391
157,511
93,405
57,293
52,351
45,782
44,087
35,526
62,808
51,400
51,188
53,909
128,411
113,220
80,280
73,428
78,840
85,384
90,740
85,044
103,875
99,435
70,430
56,146
70,849
42,754
15,246
18,825
29,357
27,043
26,227
129,085
74,883
34,153
64,574
318,953
722
725
77,252
78,499
749
58,846
64,042
38,463
38,46364,04258,84674978,49977,252725722318,95364,57434,15374,883129,08526,22727,04329,35718,82515,24642,75470,84956,14670,43099,435103,87585,04490,74085,38478,84073,42880,280113,220128,41153,90951,18851,40062,80835,52644,08745,78252,35157,29393,405157,511228,391249,941244,408244,177163,326134,335114,622154,342128,44710,85117,613181,8019,84713,029246,341247,33814,234481,7116,1512,92910,820
       Short-term Investments 
0
1,179
410,124
0
394,855
0
0
190,524
179,853
0
159,697
155,849
0
0
0
0
29,180
40,380
62,181
64,090
0
128,181
148,832
0
0
0
0
0
0
0
281,115
327,612
0
0
0
0
314,489
0
0
448,875
459,980
489,923
567,829
1,074,969
490,664
504,960
521,197
420,292
465,117
400,562
394,578
1,273,034
1,232,030
1,233,000
1,231,807
974,925
999,357
1,011,275
983,283
951,653
835,645
772,168
939,636
847,061
847,061939,636772,168835,645951,653983,2831,011,275999,357974,9251,231,8071,233,0001,232,0301,273,034394,578400,562465,117420,292521,197504,960490,6641,074,969567,829489,923459,980448,87500314,4890000327,612281,1150000000148,832128,181064,09062,18140,38029,1800000155,849159,6970179,853190,52400394,8550410,1241,1790
       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
656,329
602,876
586,910
458,567
371,055
275,878
218,901
188,387
204,941
175,779
183,117
214,473
297,489
229,915
231,818
286,238
277,096
277,884
334,929
313,463
382,063
349,087
360,463
334,196
334,196360,463349,087382,063313,463334,929277,884277,096286,238231,818229,915297,489214,473183,117175,779204,941188,387218,901275,878371,055458,567586,910602,876656,3290000000000000000000000000000000000000000
       Other Current Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
31,937
0
610,265
0
850,863
0
0
0
0
0
14,896
67,562
67,511
7,197
12,328
33,815
36,103
46,860
39,576
37,403
39,399
38,170
29,770
29,77038,17039,39937,40339,57646,86036,10333,81512,3287,19767,51167,56214,89600000850,8630610,265031,93700000000000000000000000000000000000000000
   > Long-term Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,461,104
1,563,153
1,576,503
1,831,420
2,157,394
2,261,200
2,226,329
2,568,786
2,535,289
2,562,759
2,847,185
2,872,427
2,847,379
2,914,986
3,138,404
3,138,4042,914,9862,847,3792,872,4272,847,1852,562,7592,535,2892,568,7862,226,3292,261,2002,157,3941,831,4201,576,5031,563,1531,461,1040000000000000000000000000000000000000000000000000
       Property Plant Equipment 
604
779
970
754
0
1,335
1,482
1,726
0
1,724
1,644
1,563
0
2,113
3,498
5,599
6,105
6,298
6,076
5,828
5,526
0
5,902
5,742
5,914
5,843
6,065
5,907
0
5,467
5,031
4,800
0
0
0
0
0
0
0
0
1,111
825
3,929
3,418
3,377
3,397
3,350
3,342
3,334
18,611
19,370
19,978
20,497
19,930
19,164
18,396
17,745
17,047
16,325
28,742
45,342
45,943
49,125
54,396
54,39649,12545,94345,34228,74216,32517,04717,74518,39619,16419,93020,49719,97819,37018,6113,3343,3423,3503,3973,3773,4183,9298251,111000000004,8005,0315,46705,9076,0655,8435,9145,7425,90205,5265,8286,0766,2986,1055,5993,4982,11301,5631,6441,72401,7261,4821,3350754970779604
       Goodwill 
0
0
0
0
2,902
2,743
2,571
2,937
3,149
3,235
4,257
5,853
6,171
5,348
4,636
3,555
0
0
0
0
0
0
0
0
0
14,472
14,840
14,232
0
16,439
19,227
17,599
0
14,962
0
0
0
0
0
0
0
0
0
0
0
6,882
6,687
0
0
0
0
20,711
18,740
0
0
0
0
0
0
0
0
0
0
0
0000000000018,74020,71100006,6876,8820000000000014,962017,59919,22716,439014,23214,84014,4720000000003,5554,6365,3486,1715,8534,2573,2353,1492,9372,5712,7432,9020000
       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
306,453
307,057
303,847
301,998
297,038
292,826
314,301
298,629
269,495
328,579
402,499
337,327
306,869
0
0
0
0
0
0
0
0
0
0
0
00000000000306,869337,327402,499328,579269,495298,629314,301292,826297,038301,998303,847307,057306,4530000000000000000000000000000000000000000
       Intangible Assets 
166
186
220
276
3,349
3,654
4,103
4,517
4,816
4,959
6,000
7,596
8,044
7,228
6,862
5,807
2,627
2,799
2,872
2,824
3,159
4,062
5,113
43,613
45,528
70,609
70,593
19,635
6,176
22,673
25,996
24,129
6,694
21,129
5,648
5,143
5,463
5,105
4,766
4,500
3,996
3,695
3,491
3,200
2,922
2,701
2,460
2,239
2,014
1,819
1,608
1,401
1,210
1,017
830
655
804
807
904
1,076
1,177
2,027
2,027
1,911
1,9112,0272,0271,1771,0769048078046558301,0171,2101,4011,6081,8192,0142,2392,4602,7012,9223,2003,4913,6953,9964,5004,7665,1055,4635,1435,64821,1296,69424,12925,99622,6736,17619,63570,59370,60945,52843,6135,1134,0623,1592,8242,8722,7992,6275,8076,8627,2288,0447,5966,0004,9594,8164,5174,1033,6543,349276220186166
       Long-term Assets Other 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,461,104
1,563,153
1,576,503
1,831,420
2,157,394
0
0
0
0
1,128,171
1,373,132
1,551,955
1,496,466
1,572,546
1,654,616
1,654,6161,572,5461,496,4661,551,9551,373,1321,128,17100002,157,3941,831,4201,576,5031,563,1531,461,1040000000000000000000000000000000000000000000000000
> Total Liabilities 
82,215
67,048
94,213
128,628
164,508
137,686
115,163
95,773
115,396
123,236
130,437
155,753
208,261
207,088
202,592
216,783
264,829
236,904
231,586
234,254
356,917
442,304
459,754
411,109
466,270
430,070
462,072
503,377
738,934
803,098
851,734
943,965
999,067
657,965
626,092
471,178
585,469
590,525
538,392
567,357
671,752
662,325
710,875
513,964
539,346
445,728
385,709
332,739
337,064
337,640
342,466
462,134
466,372
514,696
500,444
498,252
645,437
655,038
533,279
592,136
792,045
593,428
911,874
1,048,377
1,048,377911,874593,428792,045592,136533,279655,038645,437498,252500,444514,696466,372462,134342,466337,640337,064332,739385,709445,728539,346513,964710,875662,325671,752567,357538,392590,525585,469471,178626,092657,965999,067943,965851,734803,098738,934503,377462,072430,070466,270411,109459,754442,304356,917234,254231,586236,904264,829216,783202,592207,088208,261155,753130,437123,236115,39695,773115,163137,686164,508128,62894,21367,04882,215
   > Total Current Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
445,047
407,172
667,523
470,639
388,734
350,540
318,387
204,510
204,388
210,942
219,551
279,769
330,108
355,301
348,836
340,601
390,291
363,277
315,209
343,264
470,140
360,083
389,664
434,896
434,896389,664360,083470,140343,264315,209363,277390,291340,601348,836355,301330,108279,769219,551210,942204,388204,510318,387350,540388,734470,639667,523407,172445,0470000000000000000000000000000000000000000
       Short-term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
372,971
367,566
364,799
282,323
125,789
106,957
98,314
16,240
25,827
30,035
32,591
29,071
16,593
0
0
0
0
0
0
0
0
0
0
0
0000000000016,59329,07132,59130,03525,82716,24098,314106,957125,789282,323364,799367,566372,9710000000000000000000000000000000000000000
       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
372,971
367,566
364,799
282,323
125,789
106,957
98,314
16,240
25,827
30,035
32,591
29,071
16,593
0
0
0
0
0
0
5,604
6,214
12,545
15,403
57,415
57,41515,40312,5456,2145,60400000016,59329,07132,59130,03525,82716,24098,314106,957125,789282,323364,799367,566372,9710000000000000000000000000000000000000000
       Accounts payable 
2,301
2,833
13,883
6,702
9,413
9,454
12,922
14,194
10,526
13,938
16,020
13,112
22,870
16,729
18,923
22,719
17,671
20,298
30,206
25,091
43,529
24,563
36,029
43,024
36,584
45,984
44,243
44,677
54,523
45,595
40,864
40,877
45,452
44,729
37,172
44,968
48,524
34,266
34,914
61,800
67,745
23,150
19,953
62,262
64,502
15,781
14,837
17,551
56,666
21,058
24,431
27,072
48,046
29,721
39,140
29,323
73,670
31,177
57,313
47,742
49,483
62,804
80,321
67,389
67,38980,32162,80449,48347,74257,31331,17773,67029,32339,14029,72148,04627,07224,43121,05856,66617,55114,83715,78164,50262,26219,95323,15067,74561,80034,91434,26648,52444,96837,17244,72945,45240,87740,86445,59554,52344,67744,24345,98436,58443,02436,02924,56343,52925,09130,20620,29817,67122,71918,92316,72922,87013,11216,02013,93810,52614,19412,9229,4549,4136,70213,8832,8332,301
       Other Current Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
128,416
171,016
291,115
100,113
175,731
223,141
200,185
164,530
115,338
5,618
5,098
7,982
254,936
315,806
297,557
298,298
307,543
321,877
247,033
273,768
401,752
270,221
280,004
292,361
292,361280,004270,221401,752273,768247,033321,877307,543298,298297,557315,806254,9367,9825,0985,618115,338164,530200,185223,141175,731100,113291,115171,016128,4160000000000000000000000000000000000000000
   > Long-term Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
126,698
122,915
125,807
136,264
110,852
101,037
97,565
190,133
224,439
218,070
248,872
236,297
233,345
522,210
534,190
534,190522,210233,345236,297248,872218,070224,439190,13397,565101,037110,852136,264125,807122,915126,6980000000000000000000000000000000000000000000000000
       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
48,527
35,830
10,960
10,448
11,931
13,407
16,512
18,650
23,550
33,295
35,435
388,490
425,546
425,546388,49035,43533,29523,55018,65016,51213,40711,93110,44810,96035,83048,527000000000000000000000000000000000000000000000000000
       Capital Lease Obligations Min Short Term Debt
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-372,971
-367,566
-364,799
-282,323
-125,789
-106,957
-98,314
-16,240
-25,827
-14,571
-17,666
-14,884
-2,935
13,117
12,552
11,977
11,393
10,771
9,949
13,957
13,473
12,975
12,319
11,695
11,69512,31912,97513,47313,9579,94910,77111,39311,97712,55213,117-2,935-14,884-17,666-14,571-25,827-16,240-98,314-106,957-125,789-282,323-364,799-367,566-372,9710000000000000000000000000000000000000000
       Long-term Liabilities Other 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-1
0
2,389
0
0
2,389
2,389
2,3892,389002,3890-1000000000000000000000000000000000000000000000000000000000
> Total Stockholder Equity
170,337
181,923
638,908
739,503
750,262
772,645
804,728
800,701
790,280
828,645
866,185
916,776
912,673
959,020
1,015,445
1,093,630
1,098,520
1,201,880
1,304,563
1,380,912
1,398,335
1,476,598
1,556,540
1,650,341
1,654,661
1,805,389
1,941,749
2,081,158
2,101,476
2,196,933
2,319,325
2,444,189
2,413,734
2,546,840
2,598,912
2,703,655
2,702,292
2,775,903
2,764,685
2,813,467
2,827,829
2,859,394
2,755,773
3,035,831
2,535,342
2,540,770
2,555,485
2,589,342
2,609,717
2,627,020
2,721,929
3,721,168
3,762,039
3,839,728
3,907,800
4,027,600
4,071,013
4,143,923
4,283,413
4,389,922
4,283,453
4,387,209
4,387,528
4,470,659
4,470,6594,387,5284,387,2094,283,4534,389,9224,283,4134,143,9234,071,0134,027,6003,907,8003,839,7283,762,0393,721,1682,721,9292,627,0202,609,7172,589,3422,555,4852,540,7702,535,3423,035,8312,755,7732,859,3942,827,8292,813,4672,764,6852,775,9032,702,2922,703,6552,598,9122,546,8402,413,7342,444,1892,319,3252,196,9332,101,4762,081,1581,941,7491,805,3891,654,6611,650,3411,556,5401,476,5981,398,3351,380,9121,304,5631,201,8801,098,5201,093,6301,015,445959,020912,673916,776866,185828,645790,280800,701804,728772,645750,262739,503638,908181,923170,337
   Common Stock
165,200
167,962
653,355
724,070
724,070
724,070
724,070
724,070
724,070
724,070
724,070
724,070
724,070
724,070
724,070
724,070
724,070
724,070
724,070
724,070
724,070
724,070
1,050,000
1,050,000
1,050,000
1,050,000
1,050,000
1,050,000
1,050,000
1,050,000
1,050,000
1,050,000
1,050,000
1,050,000
1,220,000
1,220,000
1,220,000
1,220,000
1,356,704
1,356,704
1,356,704
1,356,704
1,356,704
1,356,704
1,356,704
1,356,704
1,356,704
1,356,704
1,356,704
1,356,704
1,910,247
2,888,997
2,888,997
2,888,997
2,888,997
2,888,997
2,888,997
2,888,997
2,888,997
2,888,997
2,888,997
2,888,997
2,888,997
2,888,997
2,888,9972,888,9972,888,9972,888,9972,888,9972,888,9972,888,9972,888,9972,888,9972,888,9972,888,9972,888,9972,888,9971,910,2471,356,7041,356,7041,356,7041,356,7041,356,7041,356,7041,356,7041,356,7041,356,7041,356,7041,356,7041,356,7041,220,0001,220,0001,220,0001,220,0001,050,0001,050,0001,050,0001,050,0001,050,0001,050,0001,050,0001,050,0001,050,0001,050,0001,050,0001,050,000724,070724,070724,070724,070724,070724,070724,070724,070724,070724,070724,070724,070724,070724,070724,070724,070724,070724,070724,070653,355167,962165,200
   Retained Earnings Total Equity0000000000000000000000000000000000000000000000000000000000000000
   Accumulated Other Comprehensive Income 0000000000000000000000000000000000000000000000000000000000000000
   Capital Surplus -40,754-40,754-40,754-40,754-40,754-40,754-40,754-40,754-40,754-40,754-40,754-40,754-40,750000000000000000000000000000000000000000000000000000
   Treasury Stock000-115,533-38,738000000000000000000000000000000000000000000-10,681-10,681-10,681-10,681-10,681-10,681-10,681-9,898-8,839-7,265-1,022000000
   Other Stockholders Equity -90,168-90,168-90,168-90,168-90,168-90,168-90,168-90,168-90,168-90,168-90,168-90,168-90,164-49,414-49,414-49,414-49,414-49,414-49,414-49,414-49,414-49,414-49,414-49,4140000000000000000000000000000000000000000



Balance Sheet

Currency in BRL. All numbers in thousands.




Cash Flow

Currency in BRL. All numbers in thousands.