First Hawaiian Inc
Buy, Hold or Sell?

Let's analyse First Hawaiian Inc together

Penke I guess you are interested in First Hawaiian Inc. 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 First Hawaiian Inc. 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.

Get notifications about First Hawaiian Inc

I send you an email if I find something interesting about First Hawaiian Inc.

Quick analysis of First Hawaiian Inc (30 sec.)

What can you expect buying and holding a share of First Hawaiian Inc? (30 sec.)

How much money do you get?

$1.04

When do you have the money?

1 year

How often do you get paid?

100.0%

What is your share worth?

Current worth

$19.42

Expected worth in 1 year

$21.09

How sure are you?

78.4%

+ What do you gain per year?

Total Gains per Share

$2.71

Return On Investment

13.2%

For what price can you sell your share?

Current Price per Share

$20.53

Expected price per share

$20.30 - $22.13

How sure are you?

50%

1. Valuation of First Hawaiian Inc (5 min.)

Live pricePrice per Share (EOD)

$20.53

Book Value per Share

$19.42

Intrinsic Value Per Share

$-3.91 - $-5.92

Total Value Per Share

$15.50 - $13.50

My calculation of the intrinsic value of First Hawaiian Inc 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 3Y: ($0.68) TTM: ($0.47)
The change per quarter (trend) of the Free Cash Flow Per Share is 3Y: ($-0.04) TTM: ($-0.14)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$2.21	$2.25	$2.03 - $2.03
2	$3.67	$3.77	$1.33 - $1.33
3	$4.43	$4.60	$0.63 - $0.63
4	$4.59	$4.77	$-0.07 - $-0.07
5	$4.21	$4.33	$-0.77 - $-0.77
6	$3.34	$3.31	$-1.47 - $-1.47
7	$2.04	$1.74	$-2.17 - $-2.17
8	$0.37	$-0.34	$-2.87 - $-2.87
9	$-1.63	$-2.90	$-3.57 - $-3.57
10	$-3.91	$-5.92	$-4.27 - $-4.27

2. Growth of First Hawaiian Inc (5 min.)

Is First Hawaiian Inc growing?

	Current year	Previous year	Grow	Grow %
How rich?	$2.4b	$2.2b	$11b	83.1%

How much money is First Hawaiian Inc making?

	Current year	Previous year	Grow	Grow %
Making money	$58.7m	$66.4m	-$7.6m	-13.1%
Net Profit Margin	27.3%	34.8%	-	-

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

Quarterly Yearly

3. Financial Health of First Hawaiian Inc (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 First Hawaiian Inc? (5 min.)

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

What can you expect buying and holding a share of First Hawaiian Inc?

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

Speculation

The Price per Share of First Hawaiian Inc is $20.53. 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 First Hawaiian Inc.
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 First Hawaiian Inc, 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 $19.42. Based on the TTM, the Book Value Change Per Share is $0.42 per quarter. Based on the YOY, the Book Value Change Per Share is $-0.74 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 $0.26 per quarter.

Based on historical numbers we can estimate the returns while holding a share of First Hawaiian Inc.

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	0.37	1.8%	0.46	2.2%	0.52	2.5%	0.48	2.3%	0.48	2.3%
Usd Book Value Change Per Share	-171.40	-834.9%	0.42	2.0%	-0.74	-3.6%	0.04	0.2%	0.24	1.2%
Usd Dividend Per Share	0.26	1.3%	0.26	1.3%	0.26	1.3%	0.26	1.3%	0.35	1.7%
Usd Total Gains Per Share	-171.14	-833.6%	0.68	3.3%	-0.48	-2.3%	0.30	1.4%	0.59	2.9%
Usd Price Per Share	22.86	-	19.89	-	25.32	-	23.63	-	20.56	-
Price to Earnings Ratio	15.40	-	11.10	-	12.40	-	13.11	-	13.49	-
Price-to-Total Gains Ratio	-0.13	-	8.67	-	235.93	-	40.21	-	145.19	-
Price to Book Ratio	1.18	-	0.63	-	1.44	-	1.13	-	1.04	-
Price-to-Total Gains Ratio	-0.13	-	8.67	-	235.93	-	40.21	-	145.19	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	20.53
Number of shares	48

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.26	0.26
Usd Book Value Change Per Share	0.42	0.04
Usd Total Gains Per Share	0.68	0.30
Gains per Quarter (48 shares)	32.56	14.19
Gains per Year (48 shares)	130.25	56.75

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	50	80	120	50	7	47
2	100	161	250	99	14	104
3	149	241	380	149	21	161
4	199	322	510	199	28	218
5	249	402	640	249	35	275
6	299	483	770	298	42	332
7	348	563	900	348	49	389
8	398	644	1030	398	56	446
9	448	724	1160	448	63	503
10	498	805	1290	497	70	560

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%	37.0	0.0	0.0	100.0%	56.0	0.0	0.0	100.0%
Book Value Change Per Share	3.0	1.0	0.0	75.0%	5.0	7.0	0.0	41.7%	13.0	7.0	0.0	65.0%	22.0	14.0	1.0	59.5%	33.0	22.0	1.0	58.9%
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%	37.0	0.0	0.0	100.0%	40.0	0.0	16.0	71.4%
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%	29.0	8.0	0.0	78.4%	40.0	16.0	0.0	71.4%

Fundamentals of First Hawaiian Inc

About First Hawaiian Inc

https://www.fhb.com
Banks - Regional
2000
999 Bishop Street, Honolulu, HI, United States, 96813
Google Maps Bing Maps

First Hawaiian, Inc. operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and services to consumer and commercial customers in the United States. It operates in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts. It also provides residential and commercial mortgage loans, home equity lines of credit and loans, automobile loans and leases, secured and unsecured lines of credit, installment loans, small business loans and leases, and construction lending, as well as commercial lease and auto dealer financing. In addition, the company offers wealth management, personal installment, individual investment and financial planning, insurance protection, trust and estate, private banking, investment management, retirement planning, and merchant processing services, as well as consumer and commercial credit cards. The company was formerly known as BancWest Corporation and changed its name to First Hawaiian, Inc. in April 2016. First Hawaiian, Inc. was founded in 1858 and is headquartered in Honolulu, Hawaii.

Fundamental data was last updated by Penke on 2024-04-11 07:52:05.

Financial Health

Profitability Details

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

Operating Efficiency Details

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

Liquidity Details

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

Solvency Details

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

Valuation

Valuation Details

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

1.1. Profitability of First Hawaiian Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit First Hawaiian Inc earns for each $1 of revenue.

Above 10% is considered healthy but always compare First Hawaiian Inc to the Banks - Regional industry mean.
A Net Profit Margin of 15.9% means that $0.16 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of First Hawaiian Inc:

The MRQ is 15.9%. The company is making a huge profit. +2
The TTM is 27.3%. The company is making a huge profit. +2

Trends

Current period		Compared to		+/-
MRQ	15.9%	TTM	27.3%	-11.4%
TTM	27.3%	YOY	34.8%	-7.5%
TTM	27.3%	5Y	33.0%	-5.7%
5Y	33.0%	10Y	32.6%	+0.4%

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	15.9%	18.4%	-2.5%
TTM	27.3%	28.0%	-0.7%
YOY	34.8%	25.2%	+9.6%
5Y	33.0%	22.8%	+10.2%
10Y	32.6%	19.8%	+12.8%

Measures how much net profit First Hawaiian Inc earns for each $1 of revenue.

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

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of First Hawaiian Inc. 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 First Hawaiian Inc is 0.16. This means that First Hawaiian Inc earned $0.16 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 First Hawaiian Inc is performing over time. The most recent quarter might be important if First Hawaiian Inc 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 First Hawaiian Inc 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 First Hawaiian Inc with other companies in the same industry (Banks - Regional).
Net profit margin should rise over the years.
Can be influenced when First Hawaiian Inc sells assets (profit will increase while costs remain the same).
It won’t show what part of First Hawaiian Inc 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 First Hawaiian Inc

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 First Hawaiian Inc = 47,502
Total revenue MRQ First Hawaiian Inc = 299,377
$47,502 / $299,377 = 0.16 or 15.9%

Higher is better

The higher the net profit margin, the more efficient the company is generating income. This helps investors to determine how the company is managing money. The net profit margin is an important indicator when diving into the financial health of a company. Overall, you want to see the net profit margin rising over the years. That means the company improved their production and made it more efficient (if possible).

You can use the net profit margin to compare companies within the same industry. If there are two companies where one is much bigger but the smaller one has a higher net profit margin, that means the smaller company is more efficiently using operational costs.

Important: Profit margins can be very different between industries. Companies with assembly lines or transports are much more prone to see shifting in prices for fuel, ingredients and maintenance compared to companies that only provide services. You should never compare net profit margin between different industries.

1.1.2. Return on Assets

Shows how efficient First Hawaiian Inc is using its assets to generate profit.

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

Let's take a look of the Return on Assets trends of First Hawaiian Inc:

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

Trends

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

Compared to industry (Banks - Regional)

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

Shows how efficient First Hawaiian Inc 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 First Hawaiian Inc 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 First Hawaiian Inc is using its resources to generate profit. If the return on assets (0.2%) from First Hawaiian Inc are higher than the Banks - Regional mean (0.1%) that means First Hawaiian Inc 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 First Hawaiian Inc is 0.2%. This means the company generated $0.00 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the Banks - Regional industry is 0.1%.
What is the trend?
The trend is important because it shows you how First Hawaiian Inc is performing over time. The most recent quarter might be important if First Hawaiian Inc 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 First Hawaiian Inc 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 First Hawaiian Inc

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

Income statement
Balance sheet

Net income MRQ (income statement) from First Hawaiian Inc = 47,502
Total assets MRQ (balance sheet) from First Hawaiian Inc = 25,003,140
47,502 / 25,003,140 = 0.00 or 0.2%

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

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

Let's take a look of the Return on Equity trends of First Hawaiian Inc:

The MRQ is 1.9%. Using its investors money, the company is inefficient in making profit. -1
The TTM is 2.5%. Using its investors money, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	1.9%	TTM	2.5%	-0.6%
TTM	2.5%	YOY	3.0%	-0.5%
TTM	2.5%	5Y	2.5%	+0.0%
5Y	2.5%	10Y	2.5%	0.0%

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	1.9%	1.4%	+0.5%
TTM	2.5%	2.5%	0.0%
YOY	3.0%	2.7%	+0.3%
5Y	2.5%	2.5%	0.0%
10Y	2.5%	2.8%	-0.3%

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

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) First Hawaiian Inc = 47,502
Shareholders equity (balance sheet) MRQ First Hawaiian Inc = 2,486,066
47,502 / 2,486,066 = 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 First Hawaiian Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient First Hawaiian Inc is operating .

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

Let's take a look of the Operating Margin trends of First Hawaiian Inc:

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

Trends

Current period		Compared to		+/-
MRQ	-	TTM	32.2%	-32.2%
TTM	32.2%	YOY	51.1%	-18.9%
TTM	32.2%	5Y	43.9%	-11.7%
5Y	43.9%	10Y	46.2%	-2.3%

Measures how efficient First Hawaiian Inc 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 First Hawaiian Inc 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 First Hawaiian Inc 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 First Hawaiian Inc is 0.0%. This means that First Hawaiian Inc earned $0.00 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Banks - Regional industry is .
What is the trend?
The trend is important because it shows you how First Hawaiian Inc is performing over time. The most recent quarter might be important if First Hawaiian Inc 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 First Hawaiian Inc 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 First Hawaiian Inc

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ First Hawaiian Inc = 233,060
Total revenue MRQ First Hawaiian Inc = 299,377
$233,060 / $299,377 = 0.00 or 0.0%

Operating margin is used to calculate how much profit a company makes after variable costs of production but before paying interest and taxes. Some variable costs examples are wages, raw materials, packaging, and transaction fees. The amount of variable costs is different for each company and industry. In general, a higher operating margin is better as this implicates that a company is running efficiently.

For investors, a higher operating margin is a good sign. Although you should always look at operating margin in the long term. If operating margin is fluctuating over the years this might be a sign that things are not running efficiently enough. It’s a way to check how much profit a company is making from its core business.

Operation earnings can be calculated in multiple ways:

Operation earnings = EBIT - non operating income + non operating expense
Operation earnings = Gross profit - operating expense - depreciation and amortisation
Operation earnings = Total revenue - COGS (costs of goods sold) - indirect costs

1.2.2. Operating Ratio

Measures how efficient First Hawaiian Inc is keeping operating costs low.

Below 1 is considered healthy (always compare to Banks - Regional industry mean).
An Operation Ratio of 0.22 means that the operating costs are $0.22 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of First Hawaiian Inc:

The MRQ is 0.222. The company is very efficient in keeping operating costs low. +2
The TTM is -0.223.

Trends

Current period		Compared to		+/-
MRQ	0.222	TTM	-0.223	+0.444
TTM	-0.223	YOY	-0.348	+0.125
TTM	-0.223	5Y	-0.193	-0.030
5Y	-0.193	10Y	-0.075	-0.118

Measures how efficient First Hawaiian Inc 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 First Hawaiian Inc 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 First Hawaiian Inc is 22.2%. This means that First Hawaiian Inc earned $0.22 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 First Hawaiian Inc is performing over time. The most recent quarter might be important if First Hawaiian Inc 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 First Hawaiian Inc 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 First Hawaiian Inc

You need the following data to determine operating ratio:

Income statement

COGS is not always specified on the income statement. If so you can use the following calculation:

(cost of revenue + total operating expenses) \ total revenue
(0 +66,317) \ 299,377 = 0.22

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 First Hawaiian Inc.

1.3. Liquidity

1.3.1. Current Ratio

Measures if First Hawaiian Inc 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 0.12 means the company has $0.12 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of First Hawaiian Inc:

The MRQ is 0.120. The company is unable to pay all its short-term debts. -2
The TTM is 12.954. The company is very able to pay all its short-term debts. +2

Trends

Current period		Compared to		+/-
MRQ	0.120	TTM	12.954	-12.834
TTM	12.954	YOY	28.231	-15.277
TTM	12.954	5Y	15.934	-2.980
5Y	15.934	10Y	111.507	-95.573

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
TTM	12.954	0.124	+12.830
YOY	28.231	0.225	+28.006
5Y	15.934	0.219	+15.715
10Y	111.507	0.131	+111.376

Measures if First Hawaiian Inc 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 First Hawaiian Inc 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 First Hawaiian Inc is 0.12. This means First Hawaiian Inc has $0.12 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 First Hawaiian Inc is performing over time. The most recent quarter might be important if First Hawaiian Inc 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 First Hawaiian Inc 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 First Hawaiian Inc

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
1,824,314 \ 15,201,472) = 0.12

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

Above 1 is considered healthy but always compare First Hawaiian Inc to the Banks - Regional industry mean.
A Quick Ratio of 0.17 means the company can pay off $0.17 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of First Hawaiian Inc:

The MRQ is 0.167. The company is just not able to pay all its short-term debts with the most liquid assets. -1
The TTM is 23.782. The company is very able to pay all its short-term debts with the most liquid assets. +2

Trends

Current period		Compared to		+/-
MRQ	0.167	TTM	23.782	-23.616
TTM	23.782	YOY	53.504	-29.722
TTM	23.782	5Y	24.513	-0.730
5Y	24.513	10Y	99.005	-74.492

Measures if First Hawaiian Inc 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 First Hawaiian Inc 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 First Hawaiian Inc can pay off its short term debts. This shows if First Hawaiian Inc 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 First Hawaiian Inc is 0.17. This means that First Hawaiian Inc can pay off $0.17 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 First Hawaiian Inc is performing over time. The most recent quarter might be important if First Hawaiian Inc 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 First Hawaiian Inc 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 First Hawaiian Inc

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 First Hawaiian Inc: (-185,015 + 2,255,336 +462,472) / 15,201,472 = 0.17

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 First Hawaiian Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of First Hawaiian Inc assets are financed with debt.

Below 1 (100%) is considered healthy but always compare First Hawaiian Inc to Banks - Regional industry mean.
A Debt to Asset Ratio of 0.90 means that First Hawaiian Inc assets are financed with 90.1% credit (debt) and the remaining percentage (100% - 90.1%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of First Hawaiian Inc:

The MRQ is 0.901. The company is just able to pay all its debts by selling its assets.
The TTM is 0.462. The company is very able to pay all its debts by selling its assets. +2

Trends

Current period		Compared to		+/-
MRQ	0.901	TTM	0.462	+0.439
TTM	0.462	YOY	0.910	-0.448
TTM	0.462	5Y	0.802	-0.340
5Y	0.802	10Y	0.833	-0.031

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	0.901	0.915	-0.014
TTM	0.462	0.917	-0.455
YOY	0.910	0.919	-0.009
5Y	0.802	0.919	-0.117
10Y	0.833	0.927	-0.094

Measures how much % of First Hawaiian Inc assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake First Hawaiian Inc than its shareholders.

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare First Hawaiian Inc 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 First Hawaiian Inc is 0.90. This means means that First Hawaiian Inc is financed with 90.1% 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 First Hawaiian Inc is performing over time. The most recent quarter might be important if First Hawaiian Inc 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 First Hawaiian Inc 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 First Hawaiian Inc has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example First Hawaiian Inc

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

Balance sheet
Debt to asset ratio = total debt \ total assets
22,517,074 \ 25,003,140 = 90.1% or 0.90.

The debt to total assets ratio shows if the company is owned by creditors or shareholders. Or in other words, the total debt in relation to the total amount of assets. It shows how much debt the company used to finance its assets.

1.4.2. Debt to Equity Ratio

Measures if First Hawaiian Inc is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare First Hawaiian Inc to the Banks - Regional industry mean.
A Debt to Equity ratio of 905.7% means that company has $9.06 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of First Hawaiian Inc:

The MRQ is 9.057. The company is unable to pay all its debts with equity. -1
The TTM is 4.792. The company is unable to pay all its debts with equity. -1

Trends

Current period		Compared to		+/-
MRQ	9.057	TTM	4.792	+4.266
TTM	4.792	YOY	10.089	-5.298
TTM	4.792	5Y	7.382	-2.591
5Y	7.382	10Y	7.050	+0.332

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	9.057	10.829	-1.772
TTM	4.792	11.013	-6.221
YOY	10.089	11.363	-1.274
5Y	7.382	11.437	-4.055
10Y	7.050	13.038	-5.988

Measures if First Hawaiian Inc 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 First Hawaiian Inc 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 First Hawaiian Inc is 9.06. This means that First Hawaiian Inc can pay off $9.06 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 First Hawaiian Inc is performing over time. The most recent quarter might be important if First Hawaiian Inc 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 First Hawaiian Inc 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 First Hawaiian Inc

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
22,517,074 \ 2,486,066 = 9.06 or 905.7%

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 First Hawaiian Inc

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 First Hawaiian Inc generates.

Above 15 is considered overpriced but always compare First Hawaiian Inc to the Banks - Regional industry mean.
A PE ratio of 15.40 means the investor is paying $15.40 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of First Hawaiian Inc:

The EOD is 13.833. Based on the earnings, the company is underpriced. +1
The MRQ is 15.403. Based on the earnings, the company is fair priced.
The TTM is 11.105. Based on the earnings, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	13.833	MRQ	15.403	-1.570
MRQ	15.403	TTM	11.105	+4.298
TTM	11.105	YOY	12.396	-1.291
TTM	11.105	5Y	13.111	-2.006
5Y	13.111	10Y	13.486	-0.375

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
EOD	13.833	7.555	+6.278
MRQ	15.403	6.680	+8.723
TTM	11.105	5.295	+5.810
YOY	12.396	6.943	+5.453
5Y	13.111	9.770	+3.341
10Y	13.486	9.943	+3.543

Measures how much money you pay for each share for every $1 in earnings First Hawaiian Inc 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 First Hawaiian Inc 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 First Hawaiian Inc is 15.40. This means the investor is paying $15.40 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 First Hawaiian Inc is performing over time. The most recent quarter might be important if First Hawaiian Inc 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 First Hawaiian Inc 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 First Hawaiian Inc

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 \ 128,029 = EPS
PE ratio MRQ = 15.40

* 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 First Hawaiian Inc:

The EOD is 19.490. Based on how much money comes from the company's main activities, the company is underpriced. +1
The MRQ is 21.702. Based on how much money comes from the company's main activities, the company is underpriced. +1
The TTM is 15.398. Based on how much money comes from the company's main activities, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	19.490	MRQ	21.702	-2.212
MRQ	21.702	TTM	15.398	+6.304
TTM	15.398	YOY	8.659	+6.739
TTM	15.398	5Y	9.607	+5.791
5Y	9.607	10Y	10.073	-0.466

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
EOD	19.490	-2.112	+21.602
MRQ	21.702	-1.868	+23.570
TTM	15.398	-0.342	+15.740
YOY	8.659	6.448	+2.211
5Y	9.607	0.429	+9.178
10Y	10.073	0.091	+9.982

2. Book Value per Share

2.3. Price to Book Ratio

Measures if the stock price of First Hawaiian Inc 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 1.18 means the investor is paying $1.18 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of First Hawaiian Inc:

The EOD is 1.057. Based on the equity, the company is underpriced. +1
The MRQ is 1.177. Based on the equity, the company is underpriced. +1
The TTM is 0.625. Based on the equity, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	1.057	MRQ	1.177	-0.120
MRQ	1.177	TTM	0.625	+0.552
TTM	0.625	YOY	1.438	-0.813
TTM	0.625	5Y	1.126	-0.501
5Y	1.126	10Y	1.039	+0.087

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
EOD	1.057	0.436	+0.621
MRQ	1.177	0.386	+0.791
TTM	0.625	0.470	+0.155
YOY	1.438	0.642	+0.796
5Y	1.126	0.795	+0.331
10Y	1.039	1.025	+0.014

2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of First Hawaiian Inc.

3.1. Institutions holding First Hawaiian Inc

Institutions are holding 101.157% of the shares of First Hawaiian Inc.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	BlackRock Inc	13.225	0.0098	16879941	492571	3.0058
2023-12-31	Vanguard Group Inc	11.4788	0.0073	14651233	87304	0.5995
2023-12-31	Kayne Anderson Rudnick Investment Management LLC	10.1449	0.7406	12948607	-397544	-2.9787
2023-12-31	Manufacturers Life Insurance Co	7.9678	0.1388	10169905	-181479	-1.7532
2023-12-31	State Street Corporation	5.0863	0.0072	6491935	1023377	18.7138
2023-12-31	Fuller & Thaler Asset Management Inc	4.5953	0.6793	5865336	-815649	-12.2085
2023-12-31	AllianceBernstein L.P.	3.5851	0.0403	4575881	-71741	-1.5436
2023-12-31	Dimensional Fund Advisors, Inc.	3.5328	0.0301	4509201	668871	17.417
2023-12-31	JPMorgan Chase & Co	2.997	0.0084	3825305	-61804	-1.59
2023-12-31	American Century Companies Inc	2.5508	0.0512	3255751	-2092699	-39.1272
2023-12-31	Hotchkis & Wiley Capital Management LLC	1.9905	0.2067	2540656	1408160	124.3413
2024-03-31	Reinhart Mahoney Capital Management Inc	1.8014	2.0563	2299222	48213	2.1418
2023-12-31	FMR Inc	1.6104	0.0036	2055495	-338433	-14.1371
2023-12-31	Bank of New York Mellon Corp	1.6004	0.0095	2042736	163326	8.6903
2023-12-31	Geode Capital Management, LLC	1.5785	0.0048	2014787	64620	3.3136
2023-12-31	Yacktman Asset Management Co	1.5173	0.4117	1936687	5812	0.301
2023-12-31	Wells Fargo & Co	1.4113	0.0107	1801330	-34851	-1.898
2023-12-31	Massachusetts Financial Services Company	1.3451	0.0127	1716907	9430	0.5523
2023-12-31	Northern Trust Corp	1.3417	0.0071	1712566	283810	19.8641
2023-12-31	Charles Schwab Investment Management Inc	1.2068	0.0089	1540275	115109	8.0769
Total		80.5672	4.445	102833756	+376403	+0.4%

3.2. Funds holding First Hawaiian Inc

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2024-02-29	iShares Core S&P Small-Cap ETF	6.802	0.2349	8680895	12402	0.1431
2023-12-31	FullerThaler Behavioral Small-Cap Value	3.9576	1.3534	5050757	-481933	-8.7106
2024-01-31	Undiscovered Managers Behavioral Val L	3.7544	1.3117	4791498	0	0
2024-01-31	Vanguard Total Stock Mkt Idx Inv	3.1633	0.0059	4037118	7772	0.1929
2024-01-31	JHVIT Fundamental All Cap Core I	2.9783	3.6076	3800977	0	0
2024-01-31	Vanguard Small Cap Index	2.5535	0.0535	3258800	8970	0.276
2023-09-30	Virtus KAR Small-Cap Core I	1.9783	2.6177	2524755	-114000	-4.3202
2023-12-31	JPM US Small Cap Core-Composite	1.8799	1.008	2399161	32490	1.3728
2024-01-31	JPMorgan Small Cap Equity A	1.8799	1.0196	2399161	0	0
2024-01-31	Manulife US All Cap Equity F	1.8094	3.5714	2309166	0	0
2024-01-31	Vanguard Small Cap Value Index Inv	1.7473	0.095	2229999	-9312	-0.4158
2023-12-31	American Century U.S. Mid Cap Value	1.7264	0.5653	2203221	-1572984	-41.6552
2023-12-31	American Century Mid Cap Value Inv	1.7264	0.5664	2203221	-1572984	-41.6552
2024-01-31	Vanguard Institutional Extnd Mkt Idx Tr	1.4707	0.0424	1876896	598	0.0319
2024-01-31	AB Discovery Value Advisor	1.3193	1.4004	1683787	0	0
2024-02-29	iShares S&P Small-Cap 600 Value ETF	1.2626	0.48	1611314	3777	0.235
2023-12-31	AMG Yacktman I	1.1988	0.4127	1530000	0	0
2024-01-31	MFS New Discovery Value I	1.0536	0.8618	1344624	7855	0.5876
2024-01-31	American Beacon Small Cp Val R5	1.0443	0.606	1332794	2310	0.1736
2024-02-29	SPDR® Portfolio S&P 600 Sm Cap ETF	0.9059	0.236	1156141	235	0.0203
Total		44.2119	20.0497	56424285	-3674804	-6.5%

3.3. Insider Transactions

Insiders are holding 0.556% of the shares of First Hawaiian Inc.

Date	Owner	Type	Amount	Price	Post Transaction Amount	Link
2023-12-01	Christopher L Dods	SELL	4350	20.35

4. Summary

4.1. Key Performance Indicators

The key performance indicators of First Hawaiian Inc 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	-	-	-171.400	0.419	-40987%	-0.735	-100%	0.036	-470106%	0.245	-70169%
Book Value Per Share	-	-	19.418	104.066	-81%	17.598	+10%	36.621	-47%	28.318	-31%
Current Ratio	-	-	0.120	12.954	-99%	28.231	-100%	15.934	-99%	111.507	-100%
Debt To Asset Ratio	-	-	0.901	0.462	+95%	0.910	-1%	0.802	+12%	0.833	+8%
Debt To Equity Ratio	-	-	9.057	4.792	+89%	10.089	-10%	7.382	+23%	7.050	+28%
Dividend Per Share	-	-	0.259	0.259	0%	0.259	+0%	0.259	+0%	0.349	-26%
Eps	-	-	0.371	0.459	-19%	0.519	-29%	0.476	-22%	0.477	-22%
Free Cash Flow Per Share	-	-	0.263	0.467	-44%	0.816	-68%	0.578	-54%	0.535	-51%
Free Cash Flow To Equity Per Share	-	-	-1.392	0.336	-514%	0.427	-426%	1.802	-177%	1.674	-183%
Gross Profit Margin	-	-	0.970	0.968	+0%	0.969	+0%	0.970	0%	0.971	0%
Intrinsic Value_10Y_max	-	-	-5.918	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	-3.915	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	2.253	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	2.214	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	4.600	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	4.435	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	4.332	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	4.207	-	-	-	-	-	-	-	-
Market Cap	2620387610.000	-12%	2926742117.040	2544898260.528	+15%	3239631088.860	-10%	3068921378.549	-5%	2739667762.243	+7%
Net Profit Margin	-	-	0.159	0.273	-42%	0.348	-54%	0.330	-52%	0.326	-51%
Operating Margin	-	-	-	0.322	-100%	0.511	-100%	0.439	-100%	0.462	-100%
Operating Ratio	-	-	0.222	-0.223	+201%	-0.348	+257%	-0.193	+187%	-0.075	+134%
Pb Ratio	1.057	-11%	1.177	0.625	+88%	1.438	-18%	1.126	+5%	1.039	+13%
Pe Ratio	13.833	-11%	15.403	11.105	+39%	12.396	+24%	13.111	+17%	13.486	+14%
Price Per Share	20.530	-11%	22.860	19.888	+15%	25.318	-10%	23.625	-3%	20.560	+11%
Price To Free Cash Flow Ratio	19.490	-11%	21.702	15.398	+41%	8.659	+151%	9.607	+126%	10.073	+115%
Price To Total Gains Ratio	-0.120	+10%	-0.134	8.670	-102%	235.933	-100%	40.213	-100%	145.193	-100%
Quick Ratio	-	-	0.167	23.782	-99%	53.504	-100%	24.513	-99%	99.005	-100%
Return On Assets	-	-	0.002	0.002	-20%	0.003	-29%	0.003	-29%	0.003	-36%
Return On Equity	-	-	0.019	0.025	-23%	0.030	-35%	0.025	-22%	0.025	-23%
Total Gains Per Share	-	-	-171.140	0.678	-25328%	-0.476	-100%	0.296	-58001%	0.594	-28917%
Usd Book Value	-	-	2486066000.000	13309792000.000	-81%	2251854000.000	+10%	4722114000.000	-47%	3730374972.973	-33%
Usd Book Value Change Per Share	-	-	-171.400	0.419	-40987%	-0.735	-100%	0.036	-470106%	0.245	-70169%
Usd Book Value Per Share	-	-	19.418	104.066	-81%	17.598	+10%	36.621	-47%	28.318	-31%
Usd Dividend Per Share	-	-	0.259	0.259	0%	0.259	+0%	0.259	+0%	0.349	-26%
Usd Eps	-	-	0.371	0.459	-19%	0.519	-29%	0.476	-22%	0.477	-22%
Usd Free Cash Flow	-	-	33715000.000	59808750.250	-44%	104329750.000	-68%	74824350.050	-55%	70788729.757	-52%
Usd Free Cash Flow Per Share	-	-	0.263	0.467	-44%	0.816	-68%	0.578	-54%	0.535	-51%
Usd Free Cash Flow To Equity Per Share	-	-	-1.392	0.336	-514%	0.427	-426%	1.802	-177%	1.674	-183%
Usd Market Cap	2620387610.000	-12%	2926742117.040	2544898260.528	+15%	3239631088.860	-10%	3068921378.549	-5%	2739667762.243	+7%
Usd Price Per Share	20.530	-11%	22.860	19.888	+15%	25.318	-10%	23.625	-3%	20.560	+11%
Usd Profit	-	-	47502000.000	58745750.000	-19%	66421250.000	-28%	61827450.000	-23%	63385270.270	-25%
Usd Revenue	-	-	299377000.000	225513750.000	+33%	190521000.000	+57%	190067200.000	+58%	196051270.270	+53%
Usd Total Gains Per Share	-	-	-171.140	0.678	-25328%	-0.476	-100%	0.296	-58001%	0.594	-28917%
	EOD	+5 -3	MRQ	TTM	+5 -31	YOY	+11 -25	5Y	+4 -32	10Y	+4 -32

4.2. Fundamental Score

Let's check the fundamental score of First Hawaiian Inc based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	13.833
Price to Book Ratio (EOD)	Between	0-1	1.057
Net Profit Margin (MRQ)	Greater than	0	0.159
Operating Margin (MRQ)	Greater than	0	0.000
Quick Ratio (MRQ)	Greater than	1	0.167
Current Ratio (MRQ)	Greater than	1	0.120
Debt to Asset Ratio (MRQ)	Less than	1	0.901
Debt to Equity Ratio (MRQ)	Less than	1	9.057
Return on Equity (MRQ)	Greater than	0.15	0.019
Return on Assets (MRQ)	Greater than	0.05	0.002
Total			3/10 (30.0%)

Create your own Stock Scanner

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

4.3. Technical Score

Let's check the technical score of First Hawaiian Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	39.417
Ma 20	Greater than	Ma 50	21.269
Ma 50	Greater than	Ma 100	21.189
Ma 100	Greater than	Ma 200	21.271
Open	Greater than	Close	20.620
Total			3/5 (60.0%)

Create your own Symbol Scanner

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

Reversals in quarterly reports

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

		2022-12-31		2023-03-31		2023-06-30		2023-09-30		2023-12-31
Long-term Assets Other		-351,360	-8,244,193	-8,595,553	226,392	-8,369,161	263,191	-8,105,970	27,817,313	19,711,343
Cash and Short Term Investments		7,998,396	182,837	8,181,233	-3,442,694	4,738,539	3,301,707	8,040,246	-8,225,261	-185,015

Latest Balance Sheet

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

Summary

Total Assets	25,003,140
Total Liabilities	22,517,074
Total Stockholder Equity	2,486,066

	As reported
Total Liabilities	22,517,074
Total Stockholder Equity	+ 2,486,066
Total Assets	= 25,003,140

Assets

Total Assets	25,003,140
Total Current Assets	1,824,314
Long-term Assets	23,178,826

Total Current Assets

Total Current Assets (as reported)	1,824,314
Cash And Cash Equivalents	1,739,897
Short-term Investments	2,255,336
Net Receivables	462,472
Inventory	-277,457
Total Current Assets (calculated)	4,180,248
+/-	2,355,934

Long-term Assets

Long-term Assets (as reported)	23,178,826
Property Plant Equipment	342,761
Goodwill	995,492
Long Term Investments	6,296,785
Intangible Assets	5,699
Long-term Assets Other	19,711,343
Long-term Assets (calculated)	27,352,080
+/-	4,173,254

Liabilities & Shareholders' Equity

Total Current Liabilities	15,201,472
Long-term Liabilities	7,315,602
Total Stockholder Equity	2,486,066

Total Current Liabilities

Total Current Liabilities (as reported)	15,201,472
Short-term Debt	508,009
Short Long Term Debt	500,000
Other Current Liabilities	14,693,463
Total Current Liabilities (calculated)	15,701,472
+/-	500,000

Long-term Liabilities

Long-term Liabilities (as reported)	7,315,602
Long-term Liabilities (calculated)	0
+/-	7,315,602

Total Stockholder Equity

Total Stockholder Equity (as reported)	2,486,066
Common Stock	1,413
Retained Earnings	837,859
Accumulated Other Comprehensive Income	-530,210
Other Stockholders Equity	2,177,004
Total Stockholder Equity (calculated)	2,486,066
+/-	0

Other

Capital Stock	1,413
Cash and Short Term Investments	-185,015
Common Stock Shares Outstanding	128,029
Liabilities and Stockholders Equity	25,003,140
Net Debt	-1,176,065
Net Invested Capital	2,986,066
Net Working Capital	-13,377,158
Property Plant and Equipment Gross	533,477
Short Long Term Debt Total	563,832

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

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

> Total Assets

1,588,731
19,461
4,951,183
5,064,811
4,908,704
11,544,586
2,106,359
4,927,581
4,805,306
2,105,188
38,914,000
40,264,000
41,405,000
50,054,000
51,416,000
52,516,000
54,637,000
1,155,866
10,805,586
18,133,696
0
0
18,871,000
19,352,681
19,087,504
19,052,593
19,892,693
19,661,829
19,792,785
20,373,974
20,565,627
20,549,461
20,242,942
20,479,719
19,983,838
20,695,678
20,441,136
20,526,367
20,598,220
20,166,734
20,755,891
22,993,715
22,310,701
22,662,831
23,497,596
24,246,328
25,548,322
24,992,410
25,042,720
25,377,533
24,870,272
24,577,223
24,884,207
24,511,566
24,912,524
25,003,140

25,003,140

24,912,524

24,511,566

24,884,207

24,577,223

24,870,272

25,377,533

25,042,720

24,992,410

25,548,322

24,246,328

23,497,596

22,662,831

22,310,701

22,993,715

20,755,891

20,166,734

20,598,220

20,526,367

20,441,136

20,695,678

19,983,838

20,479,719

20,242,942

20,549,461

20,565,627

20,373,974

19,792,785

19,661,829

19,892,693

19,052,593

19,087,504

19,352,681

18,871,000

18,133,696

10,805,586

1,155,866

54,637,000

52,516,000

51,416,000

50,054,000

41,405,000

40,264,000

38,914,000

2,105,188

4,805,306

4,927,581

2,106,359

11,544,586

4,908,704

5,064,811

4,951,183

19,461

1,588,731

> Total Current Assets

851,996
184
1,338,866
1,457,969
1,308,653
653,361
653,361
1,501,846
1,385,335
653,361
35,504,036
36,858,399
38,005,162
49,038,539
46,090,739
51,505,612
53,626,583
151,597
151,597
1,310,559
0
0
18,541,000
14,003,385
13,902,154
13,133,055
13,213,892
13,271,226
13,225,623
13,943,777
13,951,493
14,016,900
13,863,460
14,336,270
14,089,734
14,880,693
14,633,683
14,807,626
15,116,707
360,375
4,455,917
5,541,787
6,092,632
303,373
7,041,352
7,368,525
8,287,049
1,553,021
1,910,891
6,818,709
9,018,620
8,374,680
8,587,555
5,151,649
8,457,088
1,824,314

1,824,314

8,457,088

5,151,649

8,587,555

8,374,680

9,018,620

6,818,709

1,910,891

1,553,021

8,287,049

7,368,525

7,041,352

303,373

6,092,632

5,541,787

4,455,917

360,375

15,116,707

14,807,626

14,633,683

14,880,693

14,089,734

14,336,270

13,863,460

14,016,900

13,951,493

13,943,777

13,225,623

13,271,226

13,213,892

13,133,055

13,902,154

14,003,385

18,541,000

1,310,559

151,597

53,626,583

51,505,612

46,090,739

49,038,539

38,005,162

36,858,399

35,504,036

653,361

1,385,335

1,501,846

653,361

1,308,653

1,457,969

1,338,866

184

851,996

Cash And Cash Equivalents

851,996
184
1,338,866
1,457,969
1,308,653
653,361
653,361
1,501,846
1,385,335
653,361
1,328,783
1,702,563
1,432,288
228,233
228,233
228,233
228,233
151,597
151,597
345,496
0
0
0
2,650,195
2,349,058
1,332,014
1,175,820
1,052,058
777,612
1,227,765
1,114,365
1,034,644
692,492
943,800
699,493
1,003,637
617,867
683,515
1,344,017
694,017
1,052,832
1,855,222
816,329
1,040,944
1,262,810
1,906,298
2,399,082
1,258,469
1,626,160
1,533,676
948,934
526,624
865,592
558,131
1,213,428
1,739,897

1,739,897

1,213,428

558,131

865,592

526,624

948,934

1,533,676

1,626,160

1,258,469

2,399,082

1,906,298

1,262,810

1,040,944

816,329

1,855,222

1,052,832

694,017

1,344,017

683,515

617,867

1,003,637

699,493

943,800

692,492

1,034,644

1,114,365

1,227,765

777,612

1,052,058

1,175,820

1,332,014

2,349,058

2,650,195

345,496

151,597

228,233

1,432,288

1,702,563

1,328,783

653,361

1,385,335

1,501,846

653,361

1,308,653

1,457,969

1,338,866

184

851,996

Short-term Investments

0
0
0
0
0
0
4,528,484
5,143,855
5,412,369
0
6,030,393
5,822,419
6,167,823
0
8,606,276
9,024,593
9,101,691
0
0
915,957
0
0
0
4,027,265
3,864,940
4,601,267
5,363,696
5,077,514
5,260,262
5,126,869
5,314,973
5,234,658
5,076,766
4,842,551
4,595,301
4,498,342
4,485,660
4,395,476
4,157,082
4,075,644
4,058,457
5,135,775
5,692,883
0
6,692,479
6,953,930
7,953,727
8,428,032
8,062,384
4,093,215
7,695,303
7,471,772
7,315,641
4,180,408
6,826,818
2,255,336

2,255,336

6,826,818

4,180,408

7,315,641

7,471,772

7,695,303

4,093,215

8,062,384

8,428,032

7,953,727

6,953,930

6,692,479

5,692,883

5,135,775

4,058,457

4,075,644

4,157,082

4,395,476

4,485,660

4,498,342

4,595,301

4,842,551

5,076,766

5,234,658

5,314,973

5,126,869

5,260,262

5,077,514

5,363,696

4,601,267

3,864,940

4,027,265

915,957

9,101,691

9,024,593

8,606,276

6,167,823

5,822,419

6,030,393

5,412,369

5,143,855

4,528,484

Net Receivables

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
12,261
0
0
0
0
0
0
34,215
33,473
35,734
37,107
41,971
39,386
39,739
44,728
47,987
47,499
48,528
49,407
48,920
49,489
49,205
44,671
45,239
43,552
58,420
66,005
69,626
69,879
66,734
302,544
294,552
284,731
307,902
374,383
376,284
406,322
413,110
416,842
462,472

462,472

416,842

413,110

406,322

376,284

374,383

307,902

284,731

294,552

302,544

66,734

69,879

69,626

66,005

58,420

43,552

45,239

44,671

49,205

49,489

48,920

49,407

48,528

47,499

47,987

44,728

39,739

39,386

41,971

37,107

35,734

33,473

34,215

12,261

Other Current Assets

0
0
0
0
0
0
31,484,613
0
0
0
34,175,253
35,155,836
36,572,874
48,810,306
45,862,506
51,277,379
53,398,350
0
0
40,631
0
0
18,541,000
7,291,710
7,654,683
7,164,040
6,637,269
7,099,683
7,148,363
7,549,404
7,477,427
7,699,611
8,046,703
8,501,391
8,745,533
9,329,794
9,480,667
9,679,430
9,570,937
113,543
51,732
65,118
-5,758,888
971,318
14,146,118
13,751,444
13,571,098
13,689,115
61,561
-3,083,830
1,017,618
604,909
944,883
638,841
1,297,755
1,824,314

1,824,314

1,297,755

638,841

944,883

604,909

1,017,618

-3,083,830

61,561

13,689,115

13,571,098

13,751,444

14,146,118

971,318

-5,758,888

65,118

51,732

113,543

9,570,937

9,679,430

9,480,667

9,329,794

8,745,533

8,501,391

8,046,703

7,699,611

7,477,427

7,549,404

7,148,363

7,099,683

6,637,269

7,164,040

7,654,683

7,291,710

18,541,000

40,631

53,398,350

51,277,379

45,862,506

48,810,306

36,572,874

35,155,836

34,175,253

31,484,613

> Long-term Assets

736,735
19,277
3,612,317
3,606,842
3,600,051
0
1,452,998
3,425,735
3,419,971
1,451,827
3,409,964
3,405,601
3,399,838
1,015,461
5,325,261
1,010,388
1,010,417
1,004,269
1,004,269
0
0
0
330,000
5,349,296
5,185,350
5,919,538
6,678,801
6,390,603
6,567,162
6,430,197
6,614,134
6,532,561
6,379,482
6,143,449
5,894,104
5,814,985
5,807,453
5,718,741
5,481,513
5,400,689
5,387,182
6,465,781
7,020,526
7,400,039
8,018,789
8,278,881
9,275,598
9,750,274
9,381,292
9,373,652
8,996,840
8,754,181
8,595,553
8,369,161
8,105,970
23,178,826

23,178,826

8,105,970

8,369,161

8,595,553

8,754,181

8,996,840

9,373,652

9,381,292

9,750,274

9,275,598

8,278,881

8,018,789

7,400,039

7,020,526

6,465,781

5,387,182

5,400,689

5,481,513

5,718,741

5,807,453

5,814,985

5,894,104

6,143,449

6,379,482

6,532,561

6,614,134

6,430,197

6,567,162

6,390,603

6,678,801

5,919,538

5,185,350

5,349,296

330,000

1,004,269

1,010,417

1,010,388

5,325,261

1,015,461

3,399,838

3,405,601

3,409,964

1,451,827

3,419,971

3,425,735

1,452,998

3,600,051

3,606,842

3,612,317

19,277

736,735

Property Plant Equipment

286,034
273,035
410,429
400,294
394,800
0
378,985
390,218
537,171
0
529,000
521,000
532,000
685,000
681,000
685,000
681,000
0
0
307,460
0
0
308,000
305,104
304,704
303,715
302,059
300,788
295,608
292,959
289,689
289,215
288,565
287,746
286,374
304,996
310,902
313,200
315,309
316,885
321,254
322,919
321,229
322,401
319,949
319,452
317,272
318,448
315,766
310,047
299,179
280,355
278,121
277,817
277,805
342,761

342,761

277,805

277,817

278,121

280,355

299,179

310,047

315,766

318,448

317,272

319,452

319,949

322,401

321,229

322,919

321,254

316,885

315,309

313,200

310,902

304,996

286,374

287,746

288,565

289,215

289,689

292,959

295,608

300,788

302,059

303,715

304,704

305,104

308,000

307,460

681,000

685,000

681,000

685,000

532,000

521,000

529,000

537,171

390,218

378,985

394,800

400,294

410,429

273,035

286,034

Goodwill

665,952
172,682
3,380,392
3,384,904
3,383,877
5,206
5,206
3,226,851
3,226,851
5,206
3,228,371
3,229,771
3,229,771
5,206
4,315,119
4,315,692
4,315,735
909,752
909,752
995,492
0
0
0
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492
995,492

995,492

909,752

4,315,735

4,315,692

4,315,119

5,206

3,229,771

3,228,371

5,206

3,226,851

5,206

3,383,877

3,384,904

3,380,392

172,682

665,952

Long Term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
43,881,844
0
0
5,006,111
0
0
0
4,053,365
0
15,652,602
16,625,226
16,462,398
16,905,911
17,052,378
17,327,357
17,375,330
17,402,754
17,341,673
17,054,515
17,433,247
17,541,568
4,395,476
4,157,082
4,075,644
4,058,457
5,135,775
19,031,645
19,153,637
19,801,792
6,953,930
7,953,727
8,428,032
8,062,384
8,060,961
7,695,303
7,471,772
7,315,641
7,089,780
6,826,818
6,296,785

6,296,785

6,826,818

7,089,780

7,315,641

7,471,772

7,695,303

8,060,961

8,062,384

8,428,032

7,953,727

6,953,930

19,801,792

19,153,637

19,031,645

5,135,775

4,058,457

4,075,644

4,157,082

4,395,476

17,541,568

17,433,247

17,054,515

17,341,673

17,402,754

17,375,330

17,327,357

17,052,378

16,905,911

16,462,398

16,625,226

15,652,602

4,053,365

5,006,111

43,881,844

Intangible Assets

70,783
110,239
231,925
221,938
216,174
1,447,792
1,447,792
198,884
193,120
1,446,621
182,000
176,000
170,000
272,000
262,000
252,000
242,000
94,517
94,517
1,020,683
0
0
22,000
21,435
20,214
19,064
17,554
16,809
15,800
14,877
13,980
13,196
18,659
17,660
16,937
16,155
15,399
14,573
13,630
12,668
11,979
11,595
10,922
10,731
10,869
10,007
9,107
8,302
7,650
7,152
6,866
6,562
6,299
6,072
5,855
5,699

5,699

5,855

6,072

6,299

6,562

6,866

7,152

7,650

8,302

9,107

10,007

10,869

10,731

10,922

11,595

11,979

12,668

13,630

14,573

15,399

16,155

16,937

17,660

18,659

13,196

13,980

14,877

15,800

16,809

17,554

19,064

20,214

21,435

22,000

1,020,683

94,517

242,000

252,000

262,000

272,000

170,000

176,000

182,000

1,446,621

193,120

198,884

1,447,792

216,174

221,938

231,925

110,239

70,783

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
5,940,641
5,922,219
5,416,958
5,585,751
5,243,945
5,166,408
5,717,223
4,961,690
5,379,498
7,108,823
0
0
0
0
0
0
0
0
0
0
0
0
0
0

7,108,823

5,379,498

4,961,690

5,717,223

5,166,408

5,243,945

5,585,751

5,416,958

5,922,219

5,940,641

Long-term Assets Other

-286,034
-426,440
-410,429
-400,294
-394,800
0
-378,985
-390,218
-537,171
0
2,698,964
2,708,601
2,697,838
58,461
4,382,261
73,388
87,417
0
0
0
0
0
0
-4,027,265
-3,864,940
7,164,040
6,637,269
7,099,683
7,148,363
7,549,404
7,477,427
7,699,611
8,046,703
8,501,391
8,745,533
9,329,794
9,480,667
9,679,430
9,570,937
19,806,359
10,912,792
10,986,147
-6,025,034
22,359,458
-7,023,297
-7,283,389
1,142,749
24,745,694
1,239,894
1,279,612
-8,996,840
-351,360
-8,595,553
-8,369,161
-8,105,970
19,711,343

19,711,343

-8,105,970

-8,369,161

-8,595,553

-351,360

-8,996,840

1,279,612

1,239,894

24,745,694

1,142,749

-7,283,389

-7,023,297

22,359,458

-6,025,034

10,986,147

10,912,792

19,806,359

9,570,937

9,679,430

9,480,667

9,329,794

8,745,533

8,501,391

8,046,703

7,699,611

7,477,427

7,549,404

7,148,363

7,099,683

6,637,269

7,164,040

-3,864,940

-4,027,265

87,417

73,388

4,382,261

58,461

2,697,838

2,708,601

2,698,964

-537,171

-390,218

-378,985

-394,800

-400,294

-410,429

-426,440

-286,034

> Total Liabilities

17,614,286
2,434,994
29,659,860
30,183,230
30,324,721
9,144,586
9,144,586
32,360,036
33,267,980
9,166,801
34,516,000
35,833,000
36,822,000
44,324,000
45,599,000
46,512,000
48,521,000
9,482,337
9,482,337
15,458,656
0
0
16,126,000
16,615,740
16,615,770
16,551,585
17,368,730
17,185,344
17,286,791
17,821,372
17,983,769
18,016,910
17,722,080
18,020,544
17,560,376
18,170,839
17,827,934
17,866,926
17,943,662
17,526,476
18,091,206
20,291,818
19,576,767
19,918,727
20,813,966
21,514,987
22,836,588
22,335,498
22,757,571
23,124,922
22,669,621
22,308,218
22,555,195
500,000
500,000
22,517,074

22,517,074

500,000

22,555,195

22,308,218

22,669,621

23,124,922

22,757,571

22,335,498

22,836,588

21,514,987

20,813,966

19,918,727

19,576,767

20,291,818

18,091,206

17,526,476

17,943,662

17,866,926

17,827,934

18,170,839

17,560,376

18,020,544

17,722,080

18,016,910

17,983,769

17,821,372

17,286,791

17,185,344

17,368,730

16,551,585

16,615,770

16,615,740

16,126,000

15,458,656

9,482,337

48,521,000

46,512,000

45,599,000

44,324,000

36,822,000

35,833,000

34,516,000

9,166,801

33,267,980

32,360,036

9,144,586

30,324,721

30,183,230

29,659,860

2,434,994

17,614,286

> Total Current Liabilities

146,370
452,850
1,330,673
1,690,115
1,549,713
602,697
602,697
1,062,819
930,000
12,086
30,233,000
31,187,000
31,310,000
38,019,000
39,098,000
39,682,000
41,966,000
862,227
862,227
15,131,525
0
0
304,000
16,301,197
0
34,951
9,151
9,151
17,287,000
17,821,000
17,984,000
18,017,000
17,722,000
17,821,000
30,000
18,170,839
16,795,244
200,000
400,000
400,000
400,000
200,000
18,897,762
19,227,723
20,133,681
20,838,219
22,120,003
21,816,146
22,270,430
13,426,933
13,468,033
75,000
250,000
11,934,419
500,000
15,201,472

15,201,472

500,000

11,934,419

250,000

75,000

13,468,033

13,426,933

22,270,430

21,816,146

22,120,003

20,838,219

20,133,681

19,227,723

18,897,762

200,000

400,000

200,000

16,795,244

18,170,839

30,000

17,821,000

17,722,000

18,017,000

17,984,000

17,821,000

17,287,000

9,151

34,951

16,301,197

304,000

15,131,525

862,227

41,966,000

39,682,000

39,098,000

38,019,000

31,310,000

31,187,000

30,233,000

12,086

930,000

1,062,819

602,697

1,549,713

1,690,115

1,330,673

452,850

146,370

Short-term Debt

146,370
954,320
1,330,673
1,690,115
1,549,713
0
949,012
1,062,819
930,000
0
970,000
574,089
713,090
590,000
1,625,840
1,681,120
2,641,981
845,000
845,000
406,200
0
0
304,000
239,321
0
34,951
9,151
9,151
9,151
25,618
24,855
20,522
22,529
231,461
30,000
0
0
200,000
400,000
400,000
400,000
200,000
0
0
0
0
0
0
0
0
0
75,000
250,000
0
500,000
508,009

508,009

500,000

250,000

75,000

200,000

400,000

200,000

30,000

231,461

22,529

20,522

24,855

25,618

9,151

34,951

239,321

304,000

406,200

845,000

2,641,981

1,681,120

1,625,840

590,000

713,090

574,089

970,000

930,000

1,062,819

949,012

1,549,713

1,690,115

1,330,673

954,320

146,370

Short Long Term Debt

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,387,830
0
0
406,200
0
0
0
239,321
0
0
9,151
40,394
0
25,618
24,855
20,522
22,529
231,461
0
0
0
200,000
400,000
400,000
400,000
200,000
0
0
0
0
0
0
0
0
0
75,000
250,000
0
500,000
500,000

500,000

250,000

75,000

200,000

400,000

200,000

231,461

22,529

20,522

24,855

25,618

40,394

9,151

239,321

406,200

5,387,830

Accounts payable

0
0
0
0
0
0
0
0
0
0
0
0
0
-590,000
0
0
0
0
0
14,725,379
0
0
0
16,061,924
16,054,451
16,122,104
16,965,527
16,794,532
16,938,178
17,452,262
17,595,483
17,612,122
17,362,422
17,391,538
16,686,973
17,147,668
16,792,544
16,789,178
16,855,246
16,441,394
17,017,702
19,359,534
18,894,862
19,227,723
20,133,681
20,830,815
22,120,003
21,816,146
22,270,430
22,601,454
22,091,738
21,686,529
0
21,074,566
0
0

21,074,566

21,686,529

22,091,738

22,601,454

22,270,430

21,816,146

22,120,003

20,830,815

20,133,681

19,227,723

18,894,862

19,359,534

17,017,702

16,441,394

16,855,246

16,789,178

16,792,544

17,147,668

16,686,973

17,391,538

17,362,422

17,612,122

17,595,483

17,452,262

16,938,178

16,794,532

16,965,527

16,122,104

16,054,451

16,061,924

14,725,379

-590,000

Other Current Liabilities

0
-954,320
0
0
0
0
0
0
0
0
29,263,000
30,612,911
30,596,910
37,994,968
37,472,160
38,000,880
39,324,019
0
0
0
0
0
0
16,061,924
0
16,122,104
16,965,527
16,794,532
16,938,178
17,452,262
17,595,483
17,612,122
17,362,422
17,395,538
16,689,273
17,150,068
16,795,244
16,792,078
16,857,246
16,444,994
17,020,002
19,361,634
18,897,762
19,227,723
20,133,681
20,835,115
22,120,003
21,816,146
22,270,430
13,426,933
13,468,033
-75,000
-250,000
11,934,419
-500,000
14,693,463

14,693,463

-500,000

11,934,419

-250,000

-75,000

13,468,033

13,426,933

22,270,430

21,816,146

22,120,003

20,835,115

20,133,681

19,227,723

18,897,762

19,361,634

17,020,002

16,444,994

16,857,246

16,792,078

16,795,244

17,150,068

16,689,273

17,395,538

17,362,422

17,612,122

17,595,483

17,452,262

16,938,178

16,794,532

16,965,527

16,122,104

16,061,924

39,324,019

38,000,880

37,472,160

37,994,968

30,596,910

30,612,911

29,263,000

-954,320

> Long-term Liabilities

780,067
1,074
2,118,040
2,087,635
2,325,513
0
575,821
3,519,174
3,962,279
575,821
4,283,000
4,646,000
5,512,000
6,305,000
6,501,000
6,830,000
6,555,000
3,097,220
3,097,220
0
0
0
340,000
48
48
48
41
41
41
41
34
34
34
200,034
400,026
600,026
600,028
400,028
200,018
200,019
200,019
200,019
200,010
200,010
200,010
200,000
200,000
519,352
487,141
9,697,989
9,201,588
75,000
250,000
500,000
22,061,515
7,315,602

7,315,602

22,061,515

500,000

250,000

75,000

9,201,588

9,697,989

487,141

519,352

200,000

200,010

200,019

200,018

400,028

600,028

600,026

400,026

200,034

340,000

3,097,220

6,555,000

6,830,000

6,501,000

6,305,000

5,512,000

4,646,000

4,283,000

575,821

3,962,279

3,519,174

575,821

2,325,513

2,087,635

2,118,040

1,074

780,067

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
34
200,034
400,026
26
28
400,028
18
19
19
200,019
0
0
0
0
0
0
0
0
0
0
500,000
500,000
0
0

500,000

200,019

400,028

400,026

200,034

Other Liabilities

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
993,673
0
0
347,072
0
0
0
337,617
345,820
394,482
394,011
381,620
348,572
369,069
388,252
404,754
359,624
397,545
409,135
406,053
379,672
424,563
439,215
432,257
466,299
526,454
476,641
490,994
480,275
476,768
516,585
519,352
487,141
523,468
577,883
429,257
0
545,642
0
0

545,642

429,257

577,883

523,468

487,141

519,352

516,585

476,768

480,275

490,994

476,641

526,454

466,299

432,257

439,215

424,563

379,672

406,053

409,135

397,545

359,624

404,754

388,252

369,069

348,572

381,620

394,011

394,482

345,820

337,617

347,072

993,673

> Total Stockholder Equity

2,139,927
10
3,664,633
3,799,479
3,931,779
0
11,544,586
4,087,650
4,157,522
11,566,801
4,398,000
4,431,000
4,583,000
5,730,000
5,817,000
6,003,000
6,116,000
10,805,586
0
2,675,040
0
0
2,744,000
2,736,941
2,471,734
2,501,008
2,523,963
2,476,485
2,505,994
2,552,602
2,581,858
2,532,551
2,520,862
2,459,175
2,423,462
2,524,839
2,613,202
2,659,441
2,654,558
2,640,258
2,664,685
2,701,897
2,733,934
2,744,104
2,683,630
2,731,341
2,711,734
2,656,912
2,285,149
2,252,611
2,200,651
2,269,005
2,329,012
2,359,738
2,351,009
2,486,066

2,486,066

2,351,009

2,359,738

2,329,012

2,269,005

2,200,651

2,252,611

2,285,149

2,656,912

2,711,734

2,731,341

2,683,630

2,744,104

2,733,934

2,701,897

2,664,685

2,640,258

2,654,558

2,659,441

2,613,202

2,524,839

2,423,462

2,459,175

2,520,862

2,532,551

2,581,858

2,552,602

2,505,994

2,476,485

2,523,963

2,501,008

2,471,734

2,736,941

2,744,000

2,675,040

10,805,586

6,116,000

6,003,000

5,817,000

5,730,000

4,583,000

4,431,000

4,398,000

11,566,801

4,157,522

4,087,650

11,544,586

3,931,779

3,799,479

3,664,633

2,139,927

Common Stock

0
561
0
0
0
0
0
0
0
858
1,000
1,000
1,000
1,000
1,000
1,000
1,000
0
0
2,726,497
0
0
0
2,788,200
1,395
1,395
1,395
1,395
1,395
1,395
1,396
1,396
1,396
1,396
1,397
1,397
1,399
1,399
1,399
1,399
1,401
1,401
1,402
1,402
1,405
1,405
1,406
1,406
1,409
1,409
1,410
1,410
1,413
1,413
1,413
1,413

1,413

1,410

1,409

1,406

1,405

1,402

1,401

1,399

1,397

1,396

1,395

2,788,200

2,726,497

1,000

858

561

Retained Earnings 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
24,860
50,204
78,850
104,695
130,767
158,303
139,177
193,522
229,615
264,463
291,919
326,451
363,748
403,317
437,072
429,323
415,296
446,315
473,974
497,418
550,511
581,094
604,534
628,642
654,777
690,433
736,544
769,791
799,045
0
0

799,045

769,791

736,544

690,433

654,777

628,642

604,534

581,094

550,511

497,418

473,974

446,315

415,296

429,323

437,072

403,317

363,748

326,451

291,919

264,463

229,615

193,522

139,177

158,303

130,767

104,695

78,850

50,204

24,860

Accumulated Other Comprehensive Income

0
7,782
7,782
0
0
77,063
77,063
0
0
35,890
116,000
-48,000
22,000
-52,000
-152,000
-76,000
-148,000
-94,600
-94,600
0
0
0
2,744,000
-51,259
-18,373
-5,227
-10,315
-88,011
-86,692
-67,651
-67,114
-96,383
-164,684
-182,410
-204,699
-132,195
-78,754
-31,984
-18,774
-31,749
4,129
52,731
51,254
31,604
-43,435
-29,702
-61,463
-121,693
-517,502
-571,457
-658,756
-639,254
-611,679
-612,736
-648,731
-530,210

-530,210

-648,731

-612,736

-611,679

-639,254

-658,756

-571,457

-517,502

-121,693

-61,463

-29,702

-43,435

31,604

51,254

52,731

4,129

-31,749

-18,774

-31,984

-78,754

-132,195

-204,699

-182,410

-164,684

-96,383

-67,114

-67,651

-86,692

-88,011

-10,315

-5,227

-18,373

-51,259

2,744,000

-94,600

-148,000

-76,000

-152,000

-52,000

22,000

-48,000

116,000

35,890

77,063

7,782

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
2,479,980
2,482,679
2,484,251
2,486,596
2,488,091
2,489,273
2,488,643
2,490,910
2,492,656
2,494,436
2,495,853
2,497,770
2,499,946
2,501,324
2,503,677
2,506,477
2,509,271
2,511,849
2,514,014
2,517,048
2,520,790
2,524,168
2,527,663
2,530,795
2,533,407
2,535,601
2,538,336
2,540,653
2,543,226
0
0

2,543,226

2,540,653

2,538,336

2,535,601

2,533,407

2,530,795

2,527,663

2,524,168

2,520,790

2,517,048

2,514,014

2,511,849

2,509,271

2,506,477

2,503,677

2,501,324

2,499,946

2,497,770

2,495,853

2,494,436

2,492,656

2,490,910

2,488,643

2,489,273

2,488,091

2,486,596

2,484,251

2,482,679

2,479,980

Treasury Stock

-371,210

-371,166

-368,031

-368,037

-365,525

-358,195

-354,998

-333,471

-311,663

-288,806

-276,890

-276,886

-276,802

-276,645

-270,141

-232,708

-173,668

-133,664

-132,135

-82,082

-282

Other Stockholders Equity

2,139,927
-16,635
3,664,633
3,799,479
3,931,779
0
11,097,889
4,087,650
4,157,522
10,723,855
3,362,000
3,444,000
3,409,000
4,501,000
4,552,000
4,513,000
4,549,000
9,030,198
0
-51,457
0
0
0
2,788,200
2,488,712
2,479,980
2,482,679
2,484,251
2,486,596
2,488,091
2,489,273
2,488,361
2,490,628
2,410,574
2,362,301
2,363,718
2,364,106
2,326,278
2,268,616
2,233,536
2,229,832
2,232,469
2,234,963
2,237,124
2,228,242
2,209,127
2,190,697
2,172,665
2,172,600
2,167,882
2,167,564
2,170,305
2,169,487
2,172,016
2,174,432
2,177,004

2,177,004

2,174,432

2,172,016

2,169,487

2,170,305

2,167,564

2,167,882

2,172,600

2,172,665

2,190,697

2,209,127

2,228,242

2,237,124

2,234,963

2,232,469

2,229,832

2,233,536

2,268,616

2,326,278

2,364,106

2,363,718

2,362,301

2,410,574

2,490,628

2,488,361

2,489,273

2,488,091

2,486,596

2,484,251

2,482,679

2,479,980

2,488,712

2,788,200

-51,457

9,030,198

4,549,000

4,513,000

4,552,000

4,501,000

3,409,000

3,444,000

3,362,000

10,723,855

4,157,522

4,087,650

11,097,889

3,931,779

3,799,479

3,664,633

-16,635

2,139,927

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	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31
Accounts Payable	0	21,686,529	21,816,146	19,227,723	16,441,394	17,147,668	17,609,422	16,794,532	16,061,924	14,725,379	-	-	-	0	-590,000	0	0	0	0
Accumulated Amortization	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
Accumulated Other Comprehensive Income	-530,210	-639,254	-121,693	31,604	-31,749	-132,195	-96,383	-88,011	-51,259	-51,457	-	-	-	-94,600	-52,000	72,000	154,000	16,000	16,000
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	-	-	-	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	10	19	26	34	41	0	0	-	-	-	0	0	0	0	0	0
Capital Stock	1,413	1,410	1,406	1,402	1,399	1,397	0	0	0	0	-	-	-	0	0	0	0	0	0
Capital Surpluse	0	2,538,336	2,527,663	2,514,014	2,503,677	2,495,853	2,488,643	2,484,251	0	0	-	-	-	0	0	0	0	0	0
Cash	1,739,897	526,624	1,258,469	1,040,944	694,017	1,003,637	1,034,644	1,052,058	2,650,195	1,261,453	-	-	-	151,597	228,233	653,361	653,361	184	0
Cash And Equivalents	0	0	0	0	0	0	0	0	0	0	-	-	-	0	0	0	0	0	0
Cash And Short Term Investments	-185,015	7,998,396	1,258,469	1,040,944	4,769,661	5,501,979	6,269,302	6,129,572	6,677,460	6,233,064	-	-	-	151,597	228,233	653,361	653,361	184	0
Common Stock	1,413	1,410	1,406	1,402	1,399	1,397	1,396	1,395	2,788,200	2,726,497	-	-	-	0	1,000	1,000	1,000	1,000	127,000
Common Stock Shares Outstanding	127,916	127,982	129,538	130,220	133,387	137,111	139,657	139,493	139,460	139,460	139,500	125,300	110,900	128,819	128,819	128,819	128,819	128,819	128,819
Common Stock Total Equity	0	1,410	1,406	1,402	1,399	1,397	1,396	1,395	0	0	-	-	-	0	1,000	1,000	1,000	1,000	127,000
Current Deferred Revenue	0	0	0	0	0	0	0	0	0	0	-	-	-	17,227	24,032	12,086	602,697	452,850	0
Deferred Long Term Asset Charges	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
Earning Assets	0	0	0	0	4,961,690	5,697,251	6,417,866	6,320,936	6,823,011	6,332,276	-	-	-	0	0	0	0	0	0
Good Will	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	-	-	-	909,752	5,206	5,206	5,206	172,682	0
Intangible Assets	5,699	6,562	8,302	10,731	12,668	16,155	13,196	16,809	21,435	25,191	-	-	-	94,517	272,000	187,000	210,000	110,000	57,000
Inventory	-277,457	-604,909	-1,321,802	-1,110,570	-739,575	751	329	329	154	10,708	-	-	-	0	0	0	0	0	0
Liabilities And Stockholders Equity	25,003,140	24,577,223	24,992,410	22,662,831	20,166,734	20,695,678	20,549,461	19,661,829	19,352,681	18,133,696	-	-	-	1,155,866	50,054,000	38,352,000	34,749,000	21,647,000	18,457,000
Long Term Debt	0	0	0	200,010	200,000	600,000	34	41	41	54	-	-	-	0	6,305,040	0	0	0	0
Long Term Debt Total	0	0	0	0	19	26	34	41	48	54	-	-	-	0	0	0	0	0	0
Long Term Investments	6,296,785	7,471,772	8,428,032	19,153,637	4,075,644	4,498,342	5,234,658	5,077,514	4,053,365	5,006,111	-	-	-	0	40,278,417	0	0	0	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	-	-	-	0	0	0	0	0	0
Net Debt	-1,176,065	-451,624	-1,192,669	-840,934	-93,998	-403,611	-1,034,610	-1,042,866	-2,650,147	-1,261,399	-	-	-	3,790,623	9,457,767	5,940,639	4,248,639	3,151,816	1,301,000
Net Invested Capital	2,986,066	2,344,005	0	2,944,104	3,240,258	3,124,839	2,532,585	0	0	0	-	-	-	0	0	0	0	0	0
Net Receivables	462,472	376,284	294,552	69,626	45,239	48,920	47,987	41,971	34,215	34,287	-	-	-	0	12,841	0	0	0	0
Net Tangible Assets	0	1,273,513	1,661,420	1,748,612	1,644,766	1,529,347	1,537,059	1,480,993	1,741,449	1,679,548	-	-	-	0	1,144,745	0	0	0	0
Net Working Capital	-13,377,158	8,299,680	-11,881,667	-9,757,718	4,414,900	-2,284,067	-3,615,710	13,262,075	-2,297,812	-3,297,583	-	-	-	-710,630	11,019,539	7,032,173	5,791,002	4,027,318	2,288,000
Non Current Assets Total	23,178,826	8,754,181	9,750,274	7,400,039	5,400,689	5,814,985	6,532,561	6,390,603	5,349,296	6,299,754	-	-	-	1,004,269	1,015,461	1,451,827	1,452,998	172,682	333,000
Non Current Liabilities Other	0	544,189	519,352	691,004	681,482	1,020,771	404,788	381,661	0	0	-	-	-	0	0	0	0	0	0
Non Current Liabilities Total	7,315,602	75,000	8,973,296	200,010	200,019	600,026	34	41	48	54	-	-	-	3,097,220	6,305,000	4,221,000	3,377,000	2,198,000	632,000
Non Currrent Assets Other	19,711,343	-351,360	-168,658	-135,033	-107,713	9,329,794	7,699,611	7,099,683	-4,027,265	-4,971,611	-	-	-	-17,227	58,461	734,827	862,998	-210,318	0
Noncontrolling Interest In Consolidated Entity	0	0	0	0	0	0	0	0	0	0	-	-	-	0	0	0	0	0	0
Other Assets	0	7,448,362	13,689,115	14,152,222	9,951,145	26,510,663	27,082,022	26,052,432	24,701,977	24,433,450	-	-	-	0	1,703,356	0	0	0	0
Other Current Assets	1,824,314	604,909	1,321,802	1,110,570	739,575	9,329,794	7,699,611	7,099,683	7,291,710	5,566,591	-	-	-	0	48,810,306	36,246,812	32,642,641	21,474,134	18,124,000
Other Current Liab	14,693,463	-75,000	13,426,933	10,859,350	-400,000	17,150,068	17,612,122	16,794,532	16,061,924	0	-	-	-	0	37,994,968	29,855,914	26,902,303	16,994,150	15,836,000
Other Liab	0	429,257	519,352	490,994	432,148	406,053	384,266	350,418	314,495	347,072	-	-	-	0	1,011,142	0	0	0	0
Other Stockholder Equity	2,177,004	2,170,305	2,172,665	2,237,124	2,233,536	2,363,718	2,488,361	2,484,251	2,788,200	2,726,497	-	-	-	9,030,198	4,501,000	3,384,000	3,342,000	1,977,000	1,076,000
Preferred Stock Redeemable	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
Property Plant And Equipment Gross	533,477	537,498	571,602	322,401	316,885	304,996	289,215	300,788	305,104	307,460	-	-	-	0	685,000	530,000	380,000	273,000	276,000
Property Plant And Equipment Net	342,761	280,355	318,448	322,401	316,885	304,996	289,215	300,788	305,104	307,460	-	-	-	0	685,000	530,000	380,000	273,000	276,000
Property Plant Equipment	0	280,355	318,448	322,401	361,185	304,996	289,215	300,788	305,104	307,460	-	-	-	0	838,975	0	0	0	0
Retained Earnings	837,859	736,544	604,534	473,974	437,072	291,919	139,177	78,850	2,788,200	2,726,497	-	-	-	1,869,988	1,280,000	806,000	370,000	8,000	770,000
Retained Earnings Total Equity	0	736,544	604,534	473,974	437,072	291,919	139,177	78,850	0	0	-	-	-	0	0	0	0	0	0
Short Long Term Debt	500,000	75,000	0	0	400,000	0	0	9,151	239,321	406,200	-	-	-	0	3,381,189	0	0	0	0
Short Long Term Debt Total	563,832	75,000	65,800	200,010	600,019	600,026	34	9,192	48	54	-	-	-	3,942,220	9,686,000	6,594,000	4,902,000	3,152,000	1,301,000
Short Term Debt	508,009	75,000	7,755	8,938	400,000	0	0	9,151	239,321	406,200	-	-	-	845,000	590,000	0	0	0	0
Short Term Investments	2,255,336	7,471,772	8,428,032	6,071,415	4,075,644	4,498,342	5,234,658	5,077,514	4,027,265	4,971,611	-	-	-	0	937,875	0	22,073	0	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	-	-	-	0	0	0	0	0	0
Total Assets	25,003,140	24,577,223	24,992,410	22,662,831	20,166,734	20,695,678	20,549,461	19,661,829	19,352,681	18,133,696	-	-	-	1,155,866	50,054,000	38,352,000	34,749,000	21,647,000	18,457,000
Total Current Assets	1,824,314	8,374,680	1,553,021	1,110,570	4,814,900	14,880,693	14,016,900	13,271,226	14,003,385	11,833,942	-	-	-	151,597	49,038,539	36,900,173	33,296,002	21,474,318	18,124,000
Total Current Liabilities	15,201,472	75,000	13,434,688	10,868,288	400,000	17,164,760	17,632,610	9,151	16,301,197	15,131,525	-	-	-	862,227	38,019,000	29,868,000	27,505,000	17,447,000	15,836,000
Total Liab	22,517,074	22,308,218	22,407,984	200,010	17,526,476	18,170,839	18,016,910	17,185,344	16,615,740	15,458,656	-	-	-	9,482,337	44,324,000	34,089,000	30,882,000	19,645,000	16,468,000
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	-	-	-	0	0	0	0	0	0
Total Stockholder Equity	2,486,066	2,269,005	2,656,912	2,744,104	2,640,258	2,524,839	2,532,551	2,476,485	2,736,941	2,675,040	-	-	-	10,805,586	5,730,000	4,263,000	3,867,000	2,002,000	1,989,000
Treasury Stock	0	-368,031	-354,998	-276,890	-270,141	-132,135	-282	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

	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	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
Accounts Payable	0	0	21,074,566	0	21,686,529	22,091,738	22,601,454	22,270,430	21,816,146	22,120,003	20,830,815	20,133,681	19,227,723	18,894,862	19,359,534	17,017,702	16,441,394	16,855,246	16,789,178	16,792,544	17,147,668	16,686,973	17,391,538	17,362,422	17,612,122	17,595,483	17,452,262	16,938,178	16,794,532	16,965,527	16,122,104	16,054,451	16,061,924	0	0	0	14,725,379	0	0	0	0	0	-590,000	0	0	0	0	0	0	0	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Other Comprehensive Income	-530,210	-648,731	-612,736	-611,679	-639,254	-658,756	-571,457	-517,502	-121,693	-61,463	-29,702	-43,435	31,604	51,254	52,731	4,129	-31,749	-18,774	-31,984	-78,754	-132,195	-204,699	-182,410	-164,684	-96,383	-67,114	-67,651	-86,692	-88,011	-10,315	-5,227	-18,373	-51,259	2,744,000	0	0	0	-94,600	-94,600	-148,000	-76,000	-152,000	-52,000	22,000	-48,000	116,000	35,890	0	0	77,063	77,063	0	0	7,782	7,782	0
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0	0	10	10	10	19	19	19	18	28	28	0	0	0	0	0	0	0	0	0	0	0	0	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	1,413	1,413	1,413	1,413	1,410	1,410	1,409	1,409	1,406	1,406	1,405	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	2,543,226	2,540,653	2,538,336	2,535,601	2,533,407	2,530,795	2,527,663	2,524,168	2,520,790	2,517,048	2,514,014	2,511,849	2,509,271	2,506,477	2,503,677	2,501,324	2,499,946	2,497,770	2,495,853	2,494,436	2,492,656	2,490,910	2,488,643	2,489,273	2,488,091	2,486,596	2,484,251	2,482,679	2,479,980	0	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	1,739,897	1,213,428	558,131	865,592	526,624	948,934	1,533,676	1,626,160	1,258,469	2,399,082	1,906,298	1,262,810	1,040,944	816,329	1,855,222	1,052,832	694,017	1,344,017	683,515	617,867	1,003,637	699,493	943,800	692,492	1,034,644	1,114,365	1,227,765	777,612	1,052,058	1,175,820	1,332,014	2,349,058	2,650,195	0	0	0	345,496	151,597	151,597	228,233	228,233	228,233	228,233	1,432,288	1,702,563	1,328,783	653,361	1,385,335	1,501,846	653,361	653,361	1,308,653	1,457,969	1,338,866	184	851,996
Cash And Equivalents	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash And Short Term Investments	-185,015	8,040,246	4,738,539	8,181,233	7,998,396	8,644,237	9,594,637	1,626,160	1,258,469	2,399,082	1,906,298	1,262,810	1,040,944	6,509,212	6,990,997	5,111,289	4,769,661	5,501,099	5,078,991	5,103,527	5,501,979	5,294,794	5,786,351	5,769,258	6,269,302	6,429,338	6,354,634	6,037,874	6,129,572	6,539,516	5,933,281	6,213,998	6,677,460	0	0	0	0	0	151,597	228,233	228,233	228,233	228,233	1,432,288	1,702,563	1,328,783	653,361	1,385,335	1,501,846	653,361	0	1,308,653	1,457,969	1,338,866	184	851,996
Common Stock	1,413	1,413	1,413	1,413	1,410	1,410	1,409	1,409	1,406	1,406	1,405	1,405	1,402	1,402	1,401	1,401	1,399	1,399	1,399	1,399	1,397	1,397	1,396	1,396	1,396	1,396	1,395	1,395	1,395	1,395	1,395	1,395	2,788,200	0	0	0	2,726,497	0	0	1,000	1,000	1,000	1,000	1,000	1,000	1,000	858	0	0	0	0	0	0	0	561	0
Common Stock Shares Outstanding	128,029	127,936	127,832	128,034	127,895	127,797	128,015	128,121	128,466	129,210	129,829	130,590	130,491	130,086	130,005	130,352	130,846	132,878	134,652	135,198	135,100	135,675	138,066	139,732	139,699	139,696	139,646	139,637	139,547	139,504	139,460	139,460	139,460	139,460	139,460	139,460	0	125,057	125,057	125,057	125,057	125,057	125,057	125,057	125,057	125,057	125,057	125,057	125,057	125,057	125,057	125,057	125,057	125,057	126,713	0
Common Stock Total Equity	0	0	1,413	1,413	1,410	1,410	1,409	1,409	1,406	1,406	1,405	1,405	1,402	1,402	1,401	1,401	1,399	1,399	1,399	1,399	1,397	1,397	1,396	1,396	1,396	1,396	1,395	1,395	1,395	1,395	1,395	1,395	0	0	0	0	0	0	0	1,000	1,000	1,000	1,000	1,000	1,000	1,000	858	0	0	0	0	0	0	561	561	0
Current Deferred Revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	17,227	0	0	0	24,032	0	0	0	12,086	0	0	602,697	0	0	0	0	452,850	0
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Liab	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	7,108,823	5,379,498	4,961,690	5,717,223	5,166,408	5,243,945	5,585,751	5,416,958	5,922,219	5,940,641	0	0	0	0	0	0	0	0	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	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	995,492	0	0	0	995,492	909,752	909,752	4,315,735	4,315,692	4,315,119	5,206	3,229,771	3,229,771	3,228,371	5,206	3,226,851	3,226,851	5,206	5,206	3,383,877	3,384,904	3,380,392	172,682	665,952
Intangible Assets	5,699	5,855	6,072	6,299	6,562	6,866	7,152	7,650	8,302	9,107	10,007	10,869	10,731	10,922	11,595	11,979	12,668	13,630	14,573	15,399	16,155	16,937	17,660	18,659	13,196	13,980	14,877	15,800	16,809	17,554	19,064	20,214	21,435	22,000	0	0	1,020,683	94,517	94,517	242,000	252,000	262,000	272,000	170,000	176,000	182,000	1,446,621	193,120	198,884	1,447,792	1,447,792	216,174	221,938	231,925	110,239	70,783
Inventory	-277,457	-1,297,755	-638,841	-944,883	-604,909	-1,017,618	0	0	175	0	0	0	0	0	446	238	319	82	0	124	751	362	325	397	885	564	329	329	329	854	205	205	154	0	0	0	10,708	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Liabilities And Stockholders Equity	25,003,140	24,912,524	24,511,566	24,884,207	24,577,223	24,870,272	25,377,533	25,042,720	24,992,410	25,548,322	24,246,328	23,497,596	22,662,831	22,310,701	22,993,715	20,755,891	20,166,734	20,598,220	20,526,367	20,441,136	20,695,678	19,983,838	20,479,719	20,242,942	20,549,461	20,565,627	20,373,974	19,792,785	19,661,829	19,892,693	19,052,593	19,087,504	19,352,681	18,871,000	0	0	0	20,287,923	1,155,866	54,637,000	52,515,000	51,416,000	50,054,000	41,405,000	40,264,000	38,914,000	2,105,188	4,805,306	4,927,581	2,106,359	20,689,172	4,908,704	5,064,811	4,951,183	19,461	1,588,731
Long Term Debt	0	0	500,000	500,000	0	0	0	0	0	200,000	200,000	200,010	200,010	200,000	200,000	200,000	200,000	200,000	400,000	600,000	600,000	400,000	200,000	34	34	34	41	41	41	41	48	48	48	0	0	0	54	0	0	6,554,844	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Debt Total	0	0	500,000	500,000	0	0	0	0	0	0	0	0	0	0	200,019	19	19	18	400,028	28	26	400,026	200,034	34	0	0	0	0	0	0	0	0	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	6,296,785	6,826,818	7,089,780	7,315,641	7,471,772	7,695,303	8,060,961	8,062,384	8,428,032	7,953,727	6,953,930	19,801,792	19,153,637	19,031,645	5,135,775	4,058,457	4,075,644	4,157,082	4,395,476	17,541,568	17,433,247	17,054,515	17,341,673	17,402,754	17,375,330	17,327,357	17,052,378	16,905,911	16,462,398	16,625,226	15,652,602	0	4,053,365	0	0	0	5,006,111	0	0	43,881,844	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Debt	-1,176,065	-713,428	-58,131	-115,592	-451,624	-948,934	-1,533,676	-1,626,160	-1,258,469	-2,199,082	-1,706,298	-1,062,800	-840,934	-616,319	-1,455,203	-452,813	-93,998	-743,999	-83,487	-17,839	-403,611	-269,467	-743,766	-692,458	-1,034,610	-1,114,331	-1,227,724	-777,571	-1,042,866	-1,166,628	-1,331,966	-2,349,010	-2,650,147	304,000	0	0	0	3,790,623	3,790,623	11,714,767	10,622,767	9,335,767	9,457,767	5,925,712	5,316,437	5,268,217	2,577,017	3,506,944	3,080,147	2,322,460	2,322,460	2,566,573	2,319,781	2,109,847	1,603,353	74,441
Net Invested Capital	2,986,066	2,851,009	2,859,738	3,079,012	2,344,005	0	0	0	0	2,911,734	2,931,341	2,883,640	2,944,104	2,933,934	3,101,897	3,264,685	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	462,472	416,842	413,110	406,322	376,284	374,383	307,902	284,731	294,552	302,544	66,734	69,879	69,626	66,005	58,420	43,552	45,239	44,671	49,205	49,489	48,920	49,407	48,528	47,499	47,987	44,728	39,739	39,386	41,971	37,107	35,734	33,473	34,215	0	0	0	0	0	0	12,261	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Tangible Assets	0	0	1,364,246	1,333,520	1,273,513	1,205,159	1,257,119	1,289,657	1,661,420	1,716,242	1,735,849	1,688,138	1,748,612	1,738,442	1,706,405	1,669,193	1,644,766	1,659,066	1,663,949	1,617,710	1,529,347	1,411,033	1,446,023	1,506,711	1,523,863	1,572,386	1,542,233	1,494,702	1,464,184	1,510,917	1,486,452	0	1,741,449	0	0	0	1,679,548	0	0	1,558,871	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Working Capital	-13,377,158	7,957,088	-6,782,770	8,337,555	8,299,680	-4,449,413	-6,608,224	-20,359,539	-20,263,125	-13,832,954	-13,469,694	-13,092,329	-18,924,350	-12,805,130	5,341,787	4,055,917	-39,625	14,716,707	14,607,626	-2,161,561	-3,290,146	14,059,734	-3,484,730	-3,858,540	-4,000,100	-4,032,507	-3,877,223	-4,061,377	13,262,075	13,204,741	13,098,104	0	-2,297,812	18,237,000	0	0	-13,820,966	-710,630	-710,630	11,660,583	11,823,612	6,992,739	11,019,539	6,695,162	5,671,399	5,271,036	641,275	455,335	439,027	50,664	50,664	-241,060	-232,146	8,193	-452,666	705,626
Non Current Assets Total	23,178,826	8,105,970	8,369,161	8,595,553	8,754,181	8,996,840	9,373,652	9,381,292	9,750,274	9,275,598	8,278,881	8,018,789	7,400,039	7,020,526	6,465,781	5,387,182	5,400,689	5,481,513	5,718,741	5,807,453	5,814,985	5,894,104	6,143,449	6,379,482	6,532,561	6,614,134	6,430,197	6,567,162	6,390,603	6,678,801	5,919,538	5,185,350	5,349,296	330,000	0	0	0	1,004,269	1,004,269	1,010,417	1,010,388	5,325,261	1,015,461	3,399,838	3,405,601	3,409,964	1,451,827	3,419,971	3,425,735	1,452,998	0	3,600,051	3,606,842	3,612,317	19,277	736,735
Non Current Liabilities Other	0	0	573,662	523,695	544,189	577,883	523,468	487,141	519,352	716,585	679,872	680,285	691,004	679,005	730,184	671,204	681,482	686,416	874,848	1,032,690	1,020,771	841,103	625,006	359,658	404,788	388,286	369,110	348,613	381,661	394,052	394,530	0	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	7,315,602	22,061,515	500,000	250,000	75,000	9,201,588	9,697,989	487,141	519,352	200,000	200,000	200,010	200,010	200,010	200,019	200,019	200,019	200,018	400,028	600,028	600,026	400,026	200,034	34	34	34	41	41	41	41	48	48	48	340,000	0	0	0	3,097,220	3,097,220	6,555,000	6,830,000	6,501,000	6,305,000	5,512,000	4,646,000	4,283,000	575,821	3,962,279	3,519,174	575,821	0	2,325,513	2,087,635	2,118,040	1,074	780,067
Non Currrent Assets Other	19,711,343	-8,105,970	-8,369,161	-8,595,553	-351,360	-8,996,840	1,279,612	1,239,894	24,745,694	1,142,749	-7,283,389	-7,023,297	22,359,458	-6,025,034	10,986,147	10,912,792	19,806,359	9,570,937	9,679,430	9,480,667	9,329,794	8,745,533	8,501,391	8,046,703	7,699,611	7,477,427	7,549,404	7,148,363	7,099,683	6,637,269	7,164,040	-3,864,940	-4,027,265	0	0	0	0	0	0	87,417	73,388	4,382,261	58,461	2,697,838	2,708,601	2,698,964	0	-537,171	-390,218	-378,985	0	-394,800	-400,294	-410,429	-426,440	-286,034
Noncontrolling Interest In Consolidated Entity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	0	8,349,466	10,990,756	7,701,099	7,448,362	6,854,812	9,185,172	13,750,537	13,689,115	7,985,675	8,598,922	8,437,455	14,959,419	9,197,543	10,986,147	10,912,792	14,405,670	26,079,733	26,245,108	26,248,589	26,510,663	25,877,942	26,623,168	26,622,424	27,082,022	27,179,761	26,804,171	26,359,947	26,052,432	26,571,494	24,972,131	24,272,854	24,701,977	0	0	0	6,665,284	0	0	2,046,968	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Current Assets	1,824,314	1,297,755	638,841	944,883	604,909	1,017,618	-3,083,830	61,561	13,689,115	13,571,098	13,751,444	14,146,118	971,318	-5,758,888	65,118	51,732	113,543	9,570,937	9,679,430	9,480,667	9,329,794	8,745,533	8,501,391	8,046,703	7,699,611	7,477,427	7,549,404	7,148,363	7,099,683	6,637,269	7,164,040	7,654,683	7,291,710	18,541,000	0	0	40,631	0	0	53,398,350	51,277,379	45,862,506	48,810,306	36,572,874	35,155,836	34,175,253	0	0	0	31,484,613	0	0	0	0	0	0
Other Current Liab	14,693,463	-500,000	11,934,419	-250,000	-75,000	13,468,033	13,426,933	22,270,430	21,816,146	22,120,003	20,835,115	20,133,681	19,227,723	18,897,762	19,361,634	17,020,002	16,444,994	16,857,246	16,792,078	16,795,244	17,150,068	16,689,273	17,395,538	17,362,422	17,612,122	17,595,483	17,452,262	16,938,178	16,794,532	16,965,527	16,122,104	0	16,061,924	0	0	0	0	0	0	39,324,019	38,000,880	37,472,160	37,994,968	30,596,910	30,612,911	29,263,000	0	0	0	0	0	0	0	0	-954,320	0
Other Liab	0	0	545,642	0	429,257	577,883	523,468	487,141	519,352	516,585	476,768	480,275	490,994	476,641	526,454	466,299	432,257	439,215	424,563	379,672	406,053	409,135	397,545	359,624	404,754	388,252	369,069	348,572	381,620	394,011	394,482	345,820	337,617	0	0	0	347,072	0	0	993,673	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Stockholder Equity	2,177,004	2,174,432	2,172,016	2,169,487	2,170,305	2,167,564	2,167,882	2,172,600	2,172,665	2,190,697	2,209,127	2,228,242	2,237,124	2,234,963	2,232,469	2,229,832	2,233,536	2,268,616	2,326,278	2,364,106	2,363,718	2,362,301	2,410,574	2,490,628	2,488,361	2,489,273	2,488,091	2,486,596	2,484,251	2,482,679	2,479,980	2,488,712	2,788,200	0	0	0	-51,457	0	9,030,198	4,549,000	4,513,000	4,552,000	4,501,000	3,409,000	3,444,000	3,362,000	10,723,855	4,157,522	4,087,650	11,097,889	0	3,931,779	3,799,479	3,664,633	-16,635	2,139,927
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Property Plant And Equipment Gross	533,477	0	0	0	537,498	0	0	0	0	0	319,452	319,949	322,401	321,229	322,919	321,254	316,885	315,309	313,200	310,902	304,996	286,374	287,746	288,565	289,215	289,689	292,959	295,608	300,788	302,059	303,715	304,704	305,104	308,000	0	0	0	0	0	681,000	685,000	681,000	685,000	532,000	521,000	529,000	0	0	0	0	0	0	0	0	0	0
Property Plant And Equipment Net	342,761	277,805	277,817	278,121	280,355	299,179	310,047	315,766	318,448	317,272	319,452	319,949	322,401	321,229	322,919	321,254	316,885	315,309	313,200	310,902	304,996	286,374	287,746	288,565	289,215	289,689	292,959	295,608	300,788	302,059	303,715	304,704	305,104	308,000	0	0	0	0	0	681,000	685,000	681,000	685,000	532,000	521,000	529,000	0	537,171	390,218	378,985	0	394,800	400,294	410,429	273,035	286,034
Property Plant Equipment	0	0	277,817	278,121	280,355	299,179	310,047	315,766	318,448	317,272	319,452	319,949	322,401	321,229	322,919	321,254	361,185	361,409	360,600	310,902	304,996	286,374	287,746	288,565	289,215	289,689	292,959	295,608	300,788	302,059	303,715	304,704	305,104	0	0	0	307,460	0	0	800,137	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Earnings	837,859	823,895	799,045	769,791	736,544	690,433	654,777	628,642	604,534	581,094	550,511	497,418	473,974	446,315	415,296	429,323	437,072	403,317	363,748	326,451	291,919	264,463	229,615	193,522	139,177	158,303	130,767	104,695	78,850	50,204	24,860	0	78,850	0	0	0	0	1,869,988	1,869,988	1,714,000	1,565,000	1,416,000	1,280,000	1,151,000	1,034,000	919,000	806,198	0	0	369,634	369,634	0	0	8,302	8,302	0
Retained Earnings Total Equity	0	0	799,045	769,791	736,544	690,433	654,777	628,642	604,534	581,094	550,511	497,418	473,974	446,315	415,296	429,323	437,072	403,317	363,748	326,451	291,919	264,463	229,615	193,522	139,177	158,303	130,767	104,695	78,850	50,204	24,860	0	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	500,000	500,000	0	250,000	75,000	0	0	0	0	0	0	0	0	0	200,000	400,000	400,000	400,000	200,000	0	0	0	231,461	22,529	20,522	24,855	25,618	0	40,394	9,151	0	0	239,321	0	0	0	406,200	0	0	5,387,830	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt Total	563,832	500,000	500,000	750,000	75,000	0	0	0	0	200,000	200,000	200,010	200,010	200,010	400,019	600,019	600,019	600,018	600,028	600,028	600,026	430,026	200,034	34	34	34	41	41	9,192	9,192	48	48	48	304,000	0	0	0	3,942,220	3,942,220	11,943,000	10,851,000	9,564,000	9,686,000	7,358,000	7,019,000	6,597,000	3,230,378	4,892,279	4,581,993	2,975,821	2,975,821	3,875,226	3,777,750	3,448,713	1,603,537	926,437
Short Term Debt	508,009	500,000	0	250,000	75,000	0	0	0	0	0	0	0	0	0	200,000	400,000	400,000	400,000	200,000	0	0	30,000	231,461	22,529	20,522	24,855	25,618	9,151	9,151	9,151	34,951	0	239,321	304,000	0	0	406,200	845,000	845,000	2,641,981	1,681,120	1,625,840	590,000	713,090	574,089	970,000	0	930,000	1,062,819	949,012	0	1,549,713	1,690,115	1,330,673	954,320	146,370
Short Term Investments	2,255,336	6,826,818	4,180,408	7,315,641	7,471,772	7,695,303	4,093,215	8,062,384	8,428,032	7,953,727	6,953,930	6,692,479	0	5,692,883	5,135,775	4,058,457	4,075,644	4,157,082	4,395,476	4,485,660	4,498,342	4,595,301	4,842,551	5,076,766	5,234,658	5,314,973	5,126,869	5,260,262	5,077,514	5,363,696	4,601,267	3,864,940	4,027,265	0	0	0	915,957	0	0	9,101,691	9,024,593	8,606,276	0	6,167,823	5,822,419	6,030,393	0	5,412,369	5,143,855	4,528,484	0	0	0	0	0	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Assets	25,003,140	24,912,524	24,511,566	24,884,207	24,577,223	24,870,272	25,377,533	25,042,720	24,992,410	25,548,322	24,246,328	23,497,596	22,662,831	22,310,701	22,993,715	20,755,891	20,166,734	20,598,220	20,526,367	20,441,136	20,695,678	19,983,838	20,479,719	20,242,942	20,549,461	20,565,627	20,373,974	19,792,785	19,661,829	19,892,693	19,052,593	19,087,504	19,352,681	18,871,000	0	0	18,133,696	10,805,586	1,155,866	54,637,000	52,516,000	51,416,000	50,054,000	41,405,000	40,264,000	38,914,000	2,105,188	4,805,306	4,927,581	2,106,359	11,544,586	4,908,704	5,064,811	4,951,183	19,461	1,588,731
Total Current Assets	1,824,314	8,457,088	5,151,649	8,587,555	8,374,680	9,018,620	6,818,709	1,910,891	1,553,021	8,287,049	7,368,525	7,041,352	303,373	6,092,632	5,541,787	4,455,917	360,375	15,116,707	14,807,626	14,633,683	14,880,693	14,089,734	14,336,270	13,863,460	14,016,900	13,951,493	13,943,777	13,225,623	13,271,226	13,213,892	13,133,055	13,902,154	14,003,385	18,541,000	0	0	1,310,559	151,597	151,597	53,626,583	51,505,612	46,090,739	49,038,539	38,005,162	36,858,399	35,504,036	653,361	1,385,335	1,501,846	653,361	653,361	1,308,653	1,457,969	1,338,866	184	851,996
Total Current Liabilities	15,201,472	500,000	11,934,419	250,000	75,000	13,468,033	13,426,933	22,270,430	21,816,146	22,120,003	20,838,219	20,133,681	19,227,723	18,897,762	200,000	400,000	400,000	400,000	200,000	16,795,244	18,170,839	30,000	17,821,000	17,722,000	18,017,000	17,984,000	17,821,000	17,287,000	9,151	9,151	34,951	0	16,301,197	304,000	0	0	15,131,525	862,227	862,227	41,966,000	39,682,000	39,098,000	38,019,000	31,310,000	31,187,000	30,233,000	12,086	930,000	1,062,819	602,697	602,697	1,549,713	1,690,115	1,330,673	452,850	146,370
Total Liab	22,517,074	500,000	500,000	22,555,195	22,308,218	22,669,621	23,124,922	22,757,571	22,335,498	22,836,588	21,514,987	20,813,966	19,918,727	19,576,767	20,291,818	18,091,206	17,526,476	17,943,662	17,866,926	17,827,934	18,170,839	17,560,376	18,020,544	17,722,080	18,016,910	17,983,769	17,821,372	17,286,791	17,185,344	17,368,730	16,551,585	16,615,770	16,615,740	16,126,000	0	0	15,458,656	9,482,337	9,482,337	48,521,000	46,512,000	45,599,000	44,324,000	36,822,000	35,833,000	34,516,000	9,166,801	33,267,980	32,360,036	9,144,586	9,144,586	30,324,721	30,183,230	29,659,860	2,434,994	17,614,286
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Stockholder Equity	2,486,066	2,351,009	2,359,738	2,329,012	2,269,005	2,200,651	2,252,611	2,285,149	2,656,912	2,711,734	2,731,341	2,683,630	2,744,104	2,733,934	2,701,897	2,664,685	2,640,258	2,654,558	2,659,441	2,613,202	2,524,839	2,423,462	2,459,175	2,520,862	2,532,551	2,581,858	2,552,602	2,505,994	2,476,485	2,523,963	2,501,008	2,471,734	2,736,941	2,744,000	0	0	2,675,040	0	10,805,586	6,116,000	6,003,000	5,817,000	5,730,000	4,583,000	4,431,000	4,398,000	11,566,801	4,157,522	4,087,650	11,544,586	0	3,931,779	3,799,479	3,664,633	10	2,139,927
Treasury Stock	0	0	-371,210	-371,166	-368,031	-368,037	-365,525	-358,195	-354,998	-333,471	-311,663	-288,806	-276,890	-276,886	-276,802	-276,645	-270,141	-232,708	-173,668	-133,664	-132,135	-132,135	-82,082	-282	-282	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

Cash Flow

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31
Begin Period Cash Flow	526,624	1,258,469	1,040,944	694,017	1,003,637	1,034,644	1,052,058	2,650,195	1,261,453	1,809,407	2,630,462	2,171,791	2,193,415	737,262	809,961	0
Capital Expenditures	15,988	13,295	20,458	33,390	29,354	42,324	10,068	15,541	19,119	35,319	0	59,300	42,800	15,500	1,000	10,100
Cash And Cash Equivalents Changes	0	-731,845	217,525	346,927	-309,620	-31,007	-17,414	-1,598,137	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	21,127	-9,648	-17,884	-20,904	34,882	-42,569	-49,768	0	0	0	0	0	0	0	0
Change In Cash	1,213,273	-731,845	217,525	346,927	-309,620	-31,007	-17,414	-1,598,137	1,388,742	-547,954	712,109	-1,713,091	-2,215,015	375,938	-513,261	63,600
Change In Working Capital	-39,597	71,992	102,402	-132,493	-97,226	-15,231	-51,487	-51,504	-79,414	28,148	-11,730,169	3,987,366	1,241,171	1,763,684	1,739,318	-15,300
Change Receivables	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	-60,565	-47,268	8,298	-58,027	-4,688	0
Change To Inventory	0	0	0	0	0	0	0	0	6,734	0	0	0	0	0	0	0
Change To Liabilities	0	53,523	110,613	-114,613	-76,303	-27,090	0	0	0	0	0	9,307	0	0	0	0
Change To Netincome	0	33,532	-1,419	93,178	41,495	24,324	75,560	-10,903	-17,438	-23,986	0	41,989	0	0	0	0
Change To Operating Activities	0	71,992	102,402	-132,493	-97,226	-15,231	-51,487	-51,358	-79,414	28,148	0	-207,561	0	0	0	0
Depreciation	18,585	56,747	51,844	63,071	67,824	54,903	62,019	52,176	25,675	25,917	128,143	94,800	64,400	68,000	1,000	70,100
Dividends Paid	-132,646	132,588	134,133	135,099	138,246	131,036	124,928	446,997	164,228	192,527	0	164,228	0	2,061,814	84,731	84,700
End Period Cash Flow	1,739,897	526,624	1,258,469	1,040,944	694,017	1,003,637	1,034,644	1,052,058	2,650,195	1,261,453	3,342,571	458,700	-21,600	1,113,200	296,700	63,600
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	238,122	417,319	396,667	176,116	267,150	309,089	259,706	204,406	123,484	211,432	517,874	305,300	573,700	216,900	26,200	421,900
Investments	157,353	-924,781	-4,777,082	-3,331,492	-238,067	-214,587	-971,081	-1,896,685	956,251	-1,011,435	0	-3,354,483	0	0	0	0
Issuance Of Capital Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	75,000	-200,010	-400,009	-10	599,990	-9,161	-207,010	-170,010	-207,062	0	2,316,725	0	0	0	0
Net Income	234,983	265,685	265,735	185,754	284,392	264,394	183,682	230,178	213,780	216,672	590,413	473,400	436,600	361,300	8,300	216,400
Other Cashflows From Financing Activities	846,785	-51,738	-3,108	-1,749	-1,764	-53	818,118	732,608	1,336,545	1,147,033	9,527,218	4,318,569	3,458,855	3,537,121	554,784	1,495,900
Other Cashflows From Investing Activities	0	-27,024	2,421,221	1,261,119	642,633	-7,342	2,438	10,451	262,951	4,267	0	-1,514,890	0	0	0	0
Other Non Cash Items	44,186	3,754	-30,082	102,542	16,628	44,764	11,352	-18,728	-1,851	-13,400	11,534,471	-4,184,566	-1,131,571	-2,098,584	-1,723,418	48,000
Sale Purchase Of Stock	-356,372	-13,033	-78,108	-6,749	-138,006	-131,853	-136	0	528	0	0	1,055,000	0	1,600,000	88,787	-3,500
Stock Based Compensation	9,609	10,298	13,106	10,028	7,826	6,185	5,292	4,507	-6,071	-11,725	0	0	0	0	0	0
Total Cash From Financing Activities	-66,925	-197,359	2,176,719	2,241,184	-981,336	-124,611	683,893	78,601	1,002,307	747,444	6,487,518	5,170,500	3,088,200	3,644,400	309,100	1,407,700
Total Cash From Operating Activities	254,110	430,614	417,125	209,506	296,504	351,413	269,774	219,947	142,603	246,751	517,874	364,600	616,500	232,400	27,200	432,000
Total Cashflows From Investing Activities	0	-965,100	-2,376,319	-2,103,763	375,212	-257,809	-971,081	-1,896,685	243,832	-1,542,149	0	-5,076,456	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	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
Begin Period Cash Flow	1,213,428	558,131	865,592	526,624	948,934	1,533,676	1,626,160	1,258,469	2,399,082	1,906,298	1,262,810	1,040,944	816,329	1,855,222	1,052,832	694,017	1,344,017	683,515	617,867	1,003,637	699,493	943,800	692,492	1,034,644	1,114,365	1,227,765	777,612	1,052,058	1,175,820	1,332,014	2,349,058	2,650,195	1,865,125	1,597,316	1,629,407	1,261,453	3,342,571	3,337,131	3,337,131	423,294	432,762	2,630,462	14,200	396,101	396,487	2,171,791	1,385,335	1,501,846	396,049	1,308,653	1,308,653	1,457,969	1,338,866	737,262	851,996	191,698
Capital Expenditures	7,705	4,092	2,636	1,555	2,548	4,781	3,271	2,695	5,284	5,485	5,898	3,791	5,673	7,071	5,918	14,728	6,984	6,101	6,698	9,571	22,385	3,743	6,306	9,890	4,104	1,945	2,987	1,032	4,362	2,614	4,331	4,234	5,138	3,791	5,463	4,727	20,740	0	40,800	10,800	15,100	14,900	18,400	26,300	9,100	5,500	0	0	0	0	0	0	0	0	0	0
Cash And Cash Equivalents Changes	0	0	-307,461	338,968	-422,310	-584,742	-92,484	367,691	-1,140,613	492,784	643,488	221,866	224,615	-1,038,893	802,390	358,815	-650,000	660,502	65,648	-385,770	304,144	-244,307	251,308	-342,152	0	-113,400	450,153	-274,446	0	0	0	0	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	43,522	487	10,999	57,438	-15,367	-31,943	29,898	-59,362	-8,304	28,120	7,239	-43,362	40,418	-22,179	25,161	-47,202	2,456	-1,319	30,206	-6,213	15,771	-4,882	0	-14,422	-1,265	14,619	0	0	0	0	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	526,469	655,297	-307,461	338,968	-422,310	-584,742	-92,484	367,691	-1,140,613	492,784	643,488	221,866	224,615	-1,038,893	802,390	358,815	-650,000	660,502	65,648	-385,770	304,144	-244,307	251,308	-342,152	-79,721	-113,400	450,153	-274,446	-123,762	-156,194	-1,017,044	-301,137	785,070	267,809	-32,091	367,954	-547,954	5,440	5,440	425,906	-846,662	-2,359,062	386,100	-381,901	-288,487	-2,235,591	786,456	-116,511	1,105,797	452,608	452,608	-149,316	119,103	601,604	-114,734	40
Change In Working Capital	-15,997	-41,204	29,268	-11,664	2,590	68,665	21,416	-20,679	42,402	-27,297	12,944	74,353	18,779	-85,246	84,249	-150,275	34,282	-68,809	-14,837	-47,862	-11,831	-1,297	40,657	-42,760	-39,295	-11,060	17,732	-18,864	-36,348	-26,602	21,143	-9,697	-63,653	67,015	-106,944	24,168	-13,110,336	4,830,873	4,830,873	-4,026,800	4,324,377	1,023,763	400,363	4,629,761	185,940	16,308	-30,096,574	30,484,937	291,724	-240,339	-240,339	460,859	-1,158,292	1,158,292	-464,999	0
Change Receivables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
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	0	0	0	0	0	0	-41,231	-41,231	-1,959	-6,150	-11,225	-54,659	7,603	-3,454	3,242	-15,598	34,922	-5,340	-12,544	-12,544	19,791	10,059	-75,333	-12,333	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	142	0	0	0	0	0	0	0	0	0	0	6,734	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	-9,355	-2,128	-8,531	11,703	37,521	12,830	12,505	30,551	20,234	47,323	11,565	-41,880	43,813	-128,111	9,122	-21,581	-17,275	-46,569	-18,117	5,107	23,811	-37,891	0	3,362	19,006	-33,625	0	1,344	0	0	0	0	0	0	0	0	0	42,241	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Netincome	0	0	-2,790	6,629	14,362	4,418	2,677	12,075	11,038	-2,793	-19,613	7,421	14,553	-3,015	39,185	42,455	5,470	4,391	4,854	26,780	808	4,847	3,857	14,812	75,560	-7,750	3,380	12,926	-10,903	-2,670	0	0	-17,438	0	0	0	-23,986	0	0	9,610	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	0	29,268	29,268	2,590	68,665	21,416	21,416	42,402	-27,297	12,944	74,353	18,779	-85,246	84,249	-150,275	34,282	-68,809	-14,837	-47,862	-11,831	-1,297	40,657	-42,760	-51,487	-11,060	17,732	14,761	-51,358	-27,946	0	0	-79,414	0	0	0	28,148	0	0	-83,474	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	10,342	10,440	11,158	10,827	12,605	13,270	15,291	15,581	10,009	14,268	13,924	13,643	13,473	15,540	16,937	17,121	17,848	17,017	18,371	14,588	13,010	14,336	14,337	13,220	15,746	16,053	15,857	14,363	12,390	15,291	18,932	5,563	-7,436	17,854	7,144	8,113	25,917	37,988	37,988	32,600	28,400	29,200	30,000	26,700	21,600	16,500	16,584	11,410	18,856	21,150	21,150	15,820	19,506	11,511	-57,602	0
Dividends Paid	-33,178	-33,178	33,176	33,114	33,113	33,112	33,212	33,151	33,244	33,441	33,636	33,812	33,777	33,775	33,765	33,782	33,854	34,408	34,917	35,067	32,370	32,370	32,792	33,504	32,827	30,701	30,700	30,700	25,482	27,891	35,954	357,670	51,548	38,181	37,283	37,216	192,527	0	0	27,891	0	0	0	0	0	0	0	0	0	0	0	0	0	71,110	71,110	0
End Period Cash Flow	1,739,897	1,213,428	558,131	865,592	526,624	948,934	1,533,676	1,626,160	1,258,469	2,399,082	1,906,298	1,262,810	1,040,944	816,329	1,855,222	1,052,832	694,017	1,344,017	683,515	617,867	1,003,637	699,493	943,800	692,492	1,034,644	1,114,365	1,227,765	777,612	1,052,058	1,175,820	1,332,014	2,349,058	2,650,195	1,865,125	1,597,316	1,629,407	1,261,453	3,342,571	3,342,571	849,200	-413,900	271,400	400,300	14,200	108,000	-63,800	2,171,791	1,385,335	1,501,846	1,761,261	1,761,261	1,308,653	1,457,969	1,338,866	737,262	191,738
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	33,715	22,101	102,341	81,078	106,475	151,066	96,211	63,567	115,188	42,972	88,098	150,409	102,896	-14,687	154,484	-66,577	118,453	20,723	74,141	53,833	63,517	81,722	120,523	43,327	51,168	53,661	90,886	63,991	36,493	36,640	83,349	47,924	-17,521	131,323	-56,294	65,976	226,011	36,465	77,265	136,700	45,900	258,000	60,600	250,100	-226,600	221,200	228,518	178,692	-3,516	-200,344	-200,344	208,218	160,289	113,538	-345,671	40
Investments	697,147	228,959	118,528	-8,154	87,582	9,047	-343,627	-677,783	-1,087,311	-1,052,927	-287,315	-1,191,064	-858,298	-1,004,249	-1,376,156	-92,789	-332,003	74,412	69,545	-50,021	-357,415	232,191	12,992	-102,355	-204,687	-282,994	-123,638	-446,842	-1,091,015	-987,549	0	0	956,251	0	0	0	-1,011,435	0	0	-1,309,721	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	0	-250,000	675,000	75,000	75,000	0	0	-200,000	-10	-10	-10	-10	-200,009	-200,000	-200,000	-200,000	-10	-10	-10	170,000	229,990	200,000	200,000	-9,161	-10	-10	-9,151	-207,010	-25,810	0	0	-170,010	0	0	0	-207,062	0	0	1,094,368	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	47,502	58,221	62,442	66,818	79,588	69,018	59,360	57,719	57,022	64,279	86,741	57,693	61,739	65,101	20,049	38,865	67,836	74,199	72,433	69,924	59,995	67,388	69,053	67,958	11,684	58,363	56,895	56,740	56,552	53,235	54,860	65,531	50,211	54,889	54,558	54,122	216,672	590,413	590,413	148,600	149,100	136,600	128,300	117,200	114,800	113,100	436,564	321,985	209,743	361,332	361,332	259,053	161,995	65,417	8,302	40
Other Cashflows From Financing Activities	149,981	433,323	-453,215	267,471	-327,554	-509,492	500,010	454,284	-22	-241	701,434	905,958	-4	-84	2,141,632	575,008	-412,252	65,158	-3,166	-354,824	630,742	-476,265	151,316	-249,358	-16	143,101	514,084	144,174	-170,295	817,613	-112,847	-7,473	579,365	133,174	-42,483	584,479	1,147,033	-2,296,359	4,072,879	2,643,745	1,505,062	1,305,548	619,281	1,369,477	1,847,977	481,834	1,052,752	688,126	1,607,242	1,605,070	56,467	243,908	529,728	1,126,367	908,523	0
Other Cashflows From Investing Activities	0	0	-41,939	34,822	-255,706	-199,739	-135,550	563,971	389,591	996	4,377	402,291	683,525	677,783	-83,648	-16,541	47,089	593,657	49	1,838	-330	425	-731	-6,706	3,367	3,543	-479	4,082	11,482	6,234	1,254	576	7,710	0	0	0	4,267	0	0	-21,268	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Non Cash Items	-2,539	7,601	6,053	10,002	3,329	3,344	1,634	-4,553	1,292	-6,325	-30,168	5,119	21,099	-8,354	56,783	33,014	4,416	-139	3,652	8,699	29,237	6,688	3,299	5,540	752	1,846	4,408	4,346	2,319	39	-16	-9	2,829	4,294	-2,046	-857	0	0	-5,498,797	4,068,500	-4,399,177	-952,763	-508,963	-4,673,061	-327,140	79,592	29,830,596	-30,605,279	-459,288	-480,490	0	-527,514	1,137,080	-1,121,682	-298,342	-40
Sale Purchase Of Stock	-253,832	-17	163	-3,135	6	-2,512	-7,330	-3,197	-21,527	-21,808	-22,857	-11,916	-4	-84	-157	-6,504	-37,433	-59,040	-40,004	-1,529	-53	-50,000	-81,800	342	-16	0	0	528	0	0	0	0	528	0	0	0	0	0	0	528	0	1,055,000	1,055,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Stock Based Compensation	2,446	2,433	2,410	2,320	2,580	1,971	2,612	3,135	2,948	3,379	3,742	3,037	1,853	2,579	2,794	2,802	3,119	1,156	1,957	1,594	1,301	1,558	1,578	1,748	1,121	1,177	1,372	1,622	2,448	4,129	1,897	-25,028	4,667	-2,619	-4,654	-3,465	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	464,999	0
Total Cash From Financing Activities	-211,884	400,128	-486,391	231,222	-360,661	-545,116	290,482	417,936	-558,081	1,229,629	644,941	860,230	296,492	-697,740	2,107,710	534,722	-483,539	-28,290	-78,087	-391,420	598,372	-558,645	118,524	-282,862	-16,204	112,390	483,384	104,323	-196,477	789,722	-148,801	-365,843	439,817	94,993	-79,766	547,263	747,444	2,265,334	2,265,334	2,043,400	951,000	1,227,800	2,408,600	765,000	1,656,300	340,600	857,177	687,270	1,572,312	596,485	596,485	6,720	495,692	2,545,537	554,120	0
Total Cash From Operating Activities	41,420	26,193	104,977	82,633	109,023	155,847	99,482	66,262	120,472	48,457	93,996	154,200	108,569	-7,616	160,402	-51,849	125,437	26,824	80,839	63,404	85,902	85,465	126,829	53,217	55,272	55,606	93,873	65,023	40,855	39,254	87,680	52,158	-12,383	135,114	-50,831	70,703	246,751	36,465	36,465	147,500	61,000	272,900	79,000	276,400	-217,500	226,700	228,518	178,692	-3,516	-200,344	-200,344	208,218	160,289	113,538	-345,671	40
Total Cashflows From Investing Activities	0	0	73,953	25,113	-170,672	-195,473	-482,448	-116,507	-703,004	-785,302	-95,449	-792,564	-180,446	-333,537	-1,465,722	-124,058	-291,898	661,968	62,896	-57,754	-380,130	228,873	5,955	-112,507	-971,081	-281,396	-127,104	-443,792	-1,896,685	-1,928,545	-943,375	12,548	243,832	0	0	0	-1,542,149	0	0	-1,341,811	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	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31
Cost Of Revenue	7,738	0	0	0	0	101,913	60,464	35,448	32,421	34,585	28,400	32,800	40,700	0	442,800	385,200	465,300	15,000	562,900
Depreciation And Amortization	18,585	56,747	51,844	63,071	67,824	54,903	62,019	52,176	25,675	25,917	28,400	32,800	40,700	128,143	94,800	64,400	68,000	1,000	70,100
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	-	-	-	0	0	0	0	0	0
Ebit	0	400,882	348,996	243,724	381,698	437,911	368,355	371,829	343,227	344,244	344,500	329,800	316,400	57,373	1,214,900	1,094,500	1,060,600	28,000	931,500
Ebitda	18,585	457,629	400,840	306,795	449,522	492,814	430,374	424,005	368,902	370,161	372,900	362,600	357,100	185,516	1,309,700	1,158,900	1,128,600	29,000	1,001,600
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	-	-	-	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	0	-47,598	0	0	0	-	-	-	0	0	0	0	0	0
Gross Profit	1,124,394	762,084	690,231	711,000	735,974	720,451	711,046	693,760	655,041	634,734	619,000	627,500	623,900	2,505,175	1,341,000	1,300,600	1,061,500	17,700	400,100
Income Before Tax	309,174	351,211	348,996	243,724	381,698	358,178	368,355	371,829	343,227	344,244	344,500	329,800	316,400	937,493	772,100	711,600	595,300	13,000	368,600
Income Tax Expense	74,191	85,526	83,261	57,970	97,306	93,784	184,673	141,651	129,447	127,572	130,000	118,700	116,700	347,080	298,700	272,700	234,000	4,700	152,200
Interest Expense	26,289	49,671	18,752	47,025	105,290	79,733	41,964	26,848	22,521	23,485	28,400	32,800	40,700	880,120	442,800	385,200	465,300	15,000	562,900
Interest Income	883,014	663,220	549,311	582,759	678,692	646,051	570,768	518,520	483,846	467,283	-	-	-	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0	-	-	-	0	0	0	0	0	0
Net Income	234,983	265,685	265,735	185,754	284,392	264,394	183,682	230,178	213,780	216,672	214,500	211,100	199,700	590,413	473,400	436,600	361,300	8,300	216,400
Net Income Applicable To Common Shares	0	265,685	265,735	185,754	284,392	264,394	183,682	230,178	213,780	216,672	-	-	-	0	473,377	0	0	0	0
Net Income From Continuing Ops	267,069	265,685	265,735	185,754	284,392	264,394	183,682	230,178	213,780	216,672	-	-	-	0	473,377	0	0	0	0
Net Interest Income	656,128	613,549	530,559	535,734	573,402	566,318	528,804	491,672	461,325	443,798	-	-	-	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
Non Recurring	0	0	0	0	0	0	0	0	0	0	-	-	-	0	16,144	0	0	0	0
Operating Income	923,728	400,882	348,996	243,724	381,698	437,911	368,355	371,829	343,227	344,244	344,500	329,800	316,400	22,291	772,100	711,600	595,300	13,000	368,600
Other Items	0	0	0	0	0	0	0	0	0	0	-	-	-	0	0	0	0	0	0
Other Operating Expenses	822,958	-361,202	-341,235	-467,276	354,276	282,540	51,202	51,472	289,293	267,005	359,700	396,100	429,600	2,482,884	1,897,300	1,744,500	1,862,100	49,700	1,720,200
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	-	-	-	0	0	0	0	0	0
Reconciled Depreciation	45,030	56,747	51,844	63,071	67,824	54,903	62,019	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
Selling And Marketing Expenses	7,615	7,996	6,108	5,695	6,910	4,813	6,191	6,127	6,446	5,509	-	-	-	28,828	26,717	0	0	0	0
Selling General Administrative	225,755	199,129	182,384	174,221	173,098	167,162	175,351	169,233	170,233	157,096	302,900	330,500	348,200	0	1,011,700	974,100	931,500	19,700	594,400
Tax Provision	82,669	85,526	83,261	57,970	97,306	93,784	184,673	141,651	129,447	127,572	-	-	-	0	0	0	0	0	0
Total Operating Expenses	200,666	-361,202	-341,235	-467,276	-354,276	-282,540	51,202	51,472	-289,293	-267,005	331,300	363,300	388,900	2,482,884	1,454,500	1,359,300	1,396,800	34,700	1,157,300
Total Other Income Expense Net	309,174	-49,671	348,996	243,724	381,698	-79,733	-41,964	-26,848	-22,521	-23,485	-	-	-	915,202	754,978	0	0	0	0
Total Revenue	1,132,132	762,084	690,231	711,000	735,974	720,451	711,046	693,760	655,041	634,734	647,400	660,300	664,600	2,505,175	1,783,800	1,685,800	1,526,800	32,700	963,000

	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	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
Cost Of Revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	29,809	27,254	23,636	21,214	18,772	16,451	13,165	12,076	10,963	8,751	8,534	7,200	8,385	8,104	7,736	8,196	34,585	0	590,000	228,000	198,200	163,800	138,000	111,100	97,600	96,100	0	0	0	0	0	0	0	0	0	0
Depreciation And Amortization	10,342	10,440	11,158	10,827	12,605	13,270	15,291	15,581	10,009	14,268	13,924	13,643	13,473	15,540	16,937	17,121	17,848	17,017	18,371	14,588	13,010	14,336	14,337	13,220	15,746	16,053	15,857	14,363	12,390	15,291	18,932	5,563	-7,436	17,854	7,144	8,113	0	37,988	37,988	32,600	28,400	29,200	30,000	26,700	21,600	16,500	16,584	11,410	18,856	21,150	21,150	15,820	19,506	11,511	-57,602	0
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	0	65,922	70,248	124,374	131,738	105,732	79,109	76,957	70,151	85,661	116,464	76,720	80,698	86,199	26,582	50,245	91,019	99,595	97,226	93,858	81,972	91,056	93,315	91,835	94,260	93,699	90,483	89,913	93,868	86,469	86,425	105,067	80,616	88,125	87,592	86,894	0	22,291	57,373	467,200	439,500	377,800	346,800	301,400	285,800	280,900	51,357	228,299	-110,476	129,996	595,326	73,895	36,000	3,195	-1,958	0
Ebitda	10,342	76,362	81,406	135,201	144,343	119,002	94,400	92,538	80,160	99,929	130,388	90,363	94,171	101,739	43,519	67,366	108,867	116,612	115,597	108,446	94,982	105,392	107,652	105,055	110,006	109,752	106,340	104,276	106,258	101,760	105,357	110,630	73,180	105,979	94,736	95,007	0	60,279	95,361	499,800	467,900	407,000	376,800	328,100	307,400	297,400	67,941	239,709	-91,620	151,146	616,476	89,715	55,506	14,706	-59,560	107,928
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Profit	299,377	194,887	199,606	208,185	211,264	200,452	181,999	168,369	171,429	176,021	174,590	168,191	183,935	177,854	168,315	180,896	177,692	186,131	186,722	185,429	170,098	182,858	184,841	182,654	182,954	177,151	175,506	174,241	175,501	166,861	164,069	187,329	157,637	166,549	166,226	164,629	638,864	722,137	132,137	312,500	329,900	353,400	356,500	323,400	334,700	326,400	422,535	424,270	419,364	438,200	438,200	444,548	447,690	329,284	40,878	331,330
Income Before Tax	62,503	76,362	81,406	88,903	103,067	92,078	79,109	76,957	70,151	85,661	116,464	76,720	80,698	86,199	26,582	50,245	91,019	99,595	97,226	93,858	81,972	91,056	93,315	91,835	94,260	93,699	90,483	89,913	93,868	86,469	86,425	105,067	80,616	88,125	87,592	86,894	344,244	937,493	937,493	239,100	241,300	214,000	208,800	190,400	188,200	184,700	711,632	523,853	339,973	595,326	595,326	428,309	266,600	107,999	13,009	107,928
Income Tax Expense	15,001	18,141	18,964	22,085	23,479	23,060	19,749	19,238	13,129	21,382	29,723	19,027	18,959	21,098	6,533	11,380	23,183	25,396	24,793	23,934	21,977	23,668	24,262	23,877	82,576	35,336	33,588	33,173	37,316	33,234	31,565	39,536	30,405	33,236	33,034	32,772	127,572	347,080	347,080	90,600	92,200	77,400	80,500	73,100	73,400	71,700	-121,672	199,498	130,230	233,994	233,994	169,256	104,605	42,582	4,707	44,279
Interest Expense	6,232	82,651	69,266	46,298	28,671	13,654	4,597	2,749	3,982	4,611	4,741	5,418	6,454	7,925	12,797	19,849	22,513	27,100	28,205	27,472	24,059	22,794	17,616	15,264	13,672	11,951	8,765	7,576	7,063	6,651	6,634	6,500	5,885	5,554	5,486	5,596	23,485	880,120	880,120	228,000	198,200	163,800	138,000	111,100	97,600	96,100	385,207	293,184	450,449	465,330	465,330	354,414	230,600	104,804	14,967	119,929
Interest Income	241,030	239,799	229,205	213,545	200,465	176,390	149,744	136,621	141,309	137,204	136,222	134,576	141,681	141,927	140,619	158,532	162,132	170,181	173,818	172,561	168,044	164,052	159,019	154,936	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	47,502	58,221	62,442	66,818	79,588	69,018	59,360	57,719	57,022	64,279	86,741	57,693	61,739	65,101	20,049	38,865	67,836	74,199	72,433	69,924	59,995	67,388	69,053	67,958	11,684	58,363	56,895	56,740	56,552	53,235	54,860	65,531	50,211	54,889	54,558	54,122	216,672	590,413	590,413	148,600	149,100	136,600	128,300	117,200	114,800	113,100	436,564	321,985	209,743	361,332	361,332	259,053	161,995	65,417	8,302	63,649
Net Income Applicable To Common Shares	0	0	62,442	66,818	79,588	69,018	59,360	57,719	57,022	64,279	86,741	57,693	61,739	65,101	20,049	38,865	67,836	74,199	72,433	69,924	59,995	67,388	69,053	67,958	11,684	58,363	56,895	56,740	56,552	53,235	54,860	65,531	50,211	54,889	54,558	54,122	216,672	0	0	148,572	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income From Continuing Ops	47,502	58,221	62,442	66,818	79,588	69,018	59,360	57,719	57,022	64,279	86,741	57,693	61,739	65,101	20,049	38,865	67,836	74,199	72,433	69,924	59,995	67,388	69,053	67,958	125,784	58,363	56,895	56,740	-268,773	53,235	54,860	0	213,780	0	0	0	216,672	0	0	148,572	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income	151,793	157,148	159,939	167,247	171,794	162,736	145,147	133,872	137,327	132,593	131,481	129,158	135,227	134,002	127,822	138,683	139,619	143,081	145,613	145,089	143,985	141,258	141,403	139,672	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Operating Income Net Other	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Recurring	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-10,803	21,606	-10,803	0	0	0	0	0	0	0	0	3,601	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Operating Income	233,060	76,362	81,406	124,374	131,738	105,732	79,109	76,957	70,151	85,661	116,464	76,720	80,698	86,199	26,582	50,245	91,019	99,595	97,226	93,858	81,972	91,056	93,315	91,835	94,260	93,699	90,483	89,913	93,868	86,469	86,425	105,067	80,616	88,125	87,592	86,894	429,310	22,291	22,291	239,100	241,300	214,000	208,800	190,400	188,200	184,700	711,632	523,853	339,973	595,326	595,326	428,309	266,600	107,999	13,009	107,928
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	236,874	-118,525	-118,200	18,307	79,526	18,527	102,890	91,412	146,619	16,511	17,985	18,779	142,624	16,447	16,880	17,878	143,181	16,296	16,283	15,611	54,588	12,538	14,120	13,238	51,202	12,839	13,610	12,336	51,472	12,199	11,364	75,762	71,136	72,870	73,148	72,139	53,413	0	862,572	757,400	683,200	630,800	561,800	466,400	439,300	430,000	230,561	99,583	79,391	157,126	0	16,239	181,090	221,285	27,869	223,402
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	10,342	10,440	11,158	10,827	12,605	13,270	15,291	15,581	10,009	14,268	13,924	13,643	13,473	15,540	16,937	17,121	17,848	17,017	18,371	14,588	13,010	14,336	14,337	13,220	15,746	16,053	15,857	14,363	12,390	15,291	18,932	5,563	-7,436	17,854	7,144	8,113	0	37,988	37,988	32,600	28,400	29,200	30,000	26,700	21,600	16,500	16,584	11,410	18,856	21,150	21,150	15,820	19,506	11,511	-57,602	0
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	1,441	2,289	1,891	1,994	2,072	1,902	1,994	2,028	1,579	1,469	1,469	1,591	1,096	1,374	1,402	1,823	1,317	1,647	1,980	1,966	1,687	1,060	1,115	951	936	2,005	1,222	2,028	1,309	1,769	1,425	1,849	2,418	1,199	1,490	1,516	0	0	28,828	7,645	7,672	7,148	26,717	111,100	97,600	96,100	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	55,882	55,937	57,904	56,032	49,629	51,372	49,902	48,226	45,982	46,484	45,982	43,936	42,687	44,291	42,414	44,829	41,098	44,955	42,185	44,860	41,407	41,959	41,636	42,160	47,215	41,579	43,257	43,300	40,471	42,106	41,955	44,701	43,243	42,696	42,068	42,226	192,530	0	891,400	301,400	286,800	303,200	285,800	244,200	244,100	237,800	0	0	0	0	0	0	0	0	0	0
Tax Provision	15,001	18,141	18,964	22,085	23,479	23,060	19,749	19,238	13,129	21,382	29,723	19,027	18,959	21,098	6,533	11,380	23,183	25,396	24,793	23,934	21,977	23,668	24,262	23,877	0	0	0	0	0	0	0	0	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	66,317	-118,525	-118,200	18,307	-79,526	18,527	-102,890	-91,412	-146,619	16,511	17,985	18,779	-142,624	16,447	16,880	17,878	-143,181	16,296	16,283	15,611	54,588	12,538	14,120	13,238	51,202	12,839	13,610	12,336	51,472	12,199	11,364	-75,762	-71,136	-72,870	-73,148	-72,139	289,371	699,846	699,846	529,400	485,000	467,000	423,800	355,300	341,700	333,900	-230,561	-99,583	79,391	-157,126	0	16,239	181,090	221,285	27,869	-223,402
Total Other Income Expense Net	62,503	76,362	81,406	-35,471	-28,671	-13,654	79,109	-2,749	-3,982	-4,611	-4,741	-5,418	-6,454	-7,925	-12,797	-19,849	-22,513	-27,100	-28,205	-27,472	-24,059	-22,794	-17,616	-15,264	-13,672	-11,951	-8,765	-7,576	-7,063	-6,651	-6,634	-6,500	-5,885	-5,554	-5,486	-5,596	-8,320	0	915,202	233,747	235,745	208,247	754,978	184,255	0	0	711,632	4,750	3,170	595,326	7,745	6,122	3,576	221	221	0
Total Revenue	299,377	194,887	199,606	208,185	211,264	200,452	181,999	168,369	171,429	176,021	174,590	168,191	183,935	177,854	168,315	180,896	177,692	186,131	186,722	185,429	170,098	182,858	184,841	182,654	182,954	177,151	175,506	174,241	175,501	166,861	164,069	187,329	157,637	166,549	166,226	164,629	673,449	722,137	722,137	540,500	528,100	517,200	494,500	434,500	432,300	422,500	422,535	424,270	419,364	438,200	438,200	444,548	447,690	329,284	40,878	331,330

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

Gross Profit (+$)
totalRevenue	1,132,132
Cost of Revenue	-7,738
Gross Profit	1,124,394	1,124,394

Operating Income (+$)
Gross Profit	1,124,394
Operating Expense	-200,666
Operating Income	923,728	923,728

Operating Expense (+$)
Research Development	0
Selling General Administrative	225,755
Selling And Marketing Expenses	7,615
Operating Expense	200,666	233,370

Net Interest Income (+$)
Interest Income	883,014
Interest Expense	-26,289
Other Finance Cost	-200,597
Net Interest Income	656,128

Pretax Income (+$)
Operating Income	923,728
Net Interest Income	656,128
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	309,174	614,554 EBIT - interestExpense = -26,289 309,174 261,272
Interest Expense	26,289
Earnings Before Interest and Taxes (EBIT)	0	335,463
Earnings Before Interest and Taxes (EBITDA)	18,585

After tax Income (+$)
Income Before Tax	309,174
Tax Provision	-82,669
Net Income From Continuing Ops	267,069	226,505
Net Income	234,983
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	822,958
Total Other Income/Expenses Net	309,174	-656,128

Technical Analysis of First Hawaiian Inc
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 First Hawaiian Inc. The general trend of First Hawaiian Inc is NEUTRAL with 0.0% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine First Hawaiian Inc's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitions	Bullish trend (0.0%)		Bearish trend (0.0%)
Overbought to neutral	Bullish pullback	=	Bearish reversal
Upper to lower neutral	Bullish correction	=	Bearish continuation
Nuetral to oversold	Oversold	=	Oversold
Oversold to neutral	Bullish reversal	=	Bearish correction
Lower to upper neutral	Bullish continuation	=	Bearish pullback
Nuetral to overbought	Overbought	=	Overbought

1. Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.

Score

Let's take a look at the Support & Resistance of First Hawaiian Inc.

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: 20.82 < 21.02 < 22.13.

The bearish price targets are: 20.45 > 20.37 > 20.30.

Tweet this

First Hawaiian Inc 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 First Hawaiian Inc. The current mas is .

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

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

Directionalities and relatives.

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

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

Shows the moving average of the selected period.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

There are various kinds of moving averages:

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

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

Simple moving average

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

Source: Tradingview.com

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

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

Exponential moving average

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

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

Where:

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

Smoothed moving average

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

Linear weighted moving average

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

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

Where:

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

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

Source: Tradingview.com

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

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

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

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

First Hawaiian Inc 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 First Hawaiian Inc. The current macd is -0.1635762.

The long score for the Moving Average Convergence/Divergence (MACD) is 0/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is -4/(-4 +4).

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

First Hawaiian Inc 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 First Hawaiian Inc. The current adx is 9.17953865.

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

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

First Hawaiian Inc 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 First Hawaiian Inc. The current sar is 21.65.

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

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

First Hawaiian Inc 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 First Hawaiian Inc. The current rsi is 39.42. The current phase is Continuation in bear market.

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

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

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

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

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

Original usage

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

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

How you can use RSI (Divergence)

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

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

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

Source: Tradingview.com

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

Use tradingview to add indicators

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

Tradingview

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

View tool on Tradingview.com

RSI divergence

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

There are four types of divergences:

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

Regular bullish divergence

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

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

Source: Tradingview.com

Regular bearish divergence

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

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

Source: Tradingview.com

Hidden bullish divergence

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

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

Source: Tradingview.com

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

Hidden bearish divergence

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

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

Source: Tradingview.com

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

First Hawaiian Inc 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 First Hawaiian Inc. The current phase is Oversold in neutral market.

The long score for the Stochastic Oscillator is 3/6.
The longshort score for the Stochastic Oscillator is 0/(-6 +6).

STOCH < 50: The STOCH %K is below 50. There are more sellers than buyers. -1
STOCH < 20: The STOCH %K is below 20 and oversold. -2
STOCH %K line > STOCH %D line: The STOCH %K line is above the STOCH %D line, which indicates a bullish signal in the market. This means that the positive momentum is currently stronger than the average momentum, suggesting that buyers are more active than sellers, and there's a higher probability of the First Hawaiian Inc price going up in the near term. +2
Trending up: The STOCH %K is trending up. +1

First Hawaiian Inc 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 First Hawaiian Inc. The current cci is -155.27019045.

The long score for the Commodity Channel Index (CCI) is 0/1.
The longshort score for the Commodity Channel Index (CCI) is -1/(-1 +1).

CCI < -100: The CCI is below -100, it indicates that the price is significantly below its average, suggesting a potential oversold condition. -1

First Hawaiian Inc 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 First Hawaiian Inc. The current cmo is -31.22054977.

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

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

First Hawaiian Inc 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 First Hawaiian Inc. The current willr is -88.77005348.

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

WILLR < -80: The Williams %R is below -80. This indicates that the price is in oversold territory, suggesting a potential price correction or trend reversal to the upside. -1

First Hawaiian Inc 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 First Hawaiian Inc.

First Hawaiian Inc 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 First Hawaiian Inc. The current atr is 0.49179836.

First Hawaiian Inc 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 First Hawaiian Inc. The current obv is -26,823,904.

First Hawaiian Inc 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 First Hawaiian Inc. The current mfi is 41.88.

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

First Hawaiian Inc Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for First Hawaiian Inc.

6.2. Trading Signals

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

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

6.3. Candlestick Patterns

First Hawaiian Inc Daily Candlestick Chart

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of First Hawaiian Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	39.417
Ma 20	Greater than	Ma 50	21.269
Ma 50	Greater than	Ma 100	21.189
Ma 100	Greater than	Ma 200	21.271
Open	Greater than	Close	20.620
Total			3/5 (60.0%)

Create your own Symbol Scanner

Get notifications about First Hawaiian Inc

I send you an email if I find something interesting about First Hawaiian Inc.

First Hawaiian Inc Buy, Hold or Sell?

Let's analyse First Hawaiian Inc together

Get notifications about First Hawaiian Inc

Quick analysis of First Hawaiian Inc (30 sec.)

What can you expect buying and holding a share of First Hawaiian Inc? (30 sec.)

How much money do you get?

What is your share worth?

+ What do you gain per year?

For what price can you sell your share?

1. Valuation of First Hawaiian Inc (5 min.)

$20.53

$19.42

$-3.91 - $-5.92

$15.50 - $13.50

2. Growth of First Hawaiian Inc (5 min.)

Is First Hawaiian Inc growing?

How much money is First Hawaiian Inc making?

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

3. Financial Health of First Hawaiian Inc (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 First Hawaiian Inc? (5 min.)

What can you expect buying and holding a share of First Hawaiian Inc?

Speculation

Investing

How much money are you going to get?

When do you get the money?

How sure are you?

Linear %

Fundamentals of First Hawaiian Inc

About First Hawaiian Inc

Financial Health

Valuation

1.1. Profitability of First Hawaiian Inc.

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 First Hawaiian Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

1.2.2. Operating Ratio

Trends

1.3. Liquidity of First Hawaiian Inc.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Banks - Regional)

1.3.2. Quick Ratio

Trends

1.4. Solvency of First Hawaiian Inc.

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 First Hawaiian Inc

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Banks - Regional)

First Hawaiian Inc
Buy, Hold or Sell?