Hyatt Hotels Corporation
Buy, Hold or Sell?

Let's analyse Hyatt together

Penke I guess you are interested in Hyatt Hotels Corporation. 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 Hyatt Hotels Corporation. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

You can find me behind Let's Analyse Together in the top-right of each section.

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Quick analysis of Hyatt (30 sec.)

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

How much money do you get?

$0.59

When do you have the money?

1 year

How often do you get paid?

52.5%

What is your share worth?

Current worth

$33.62

Expected worth in 1 year

$33.40

How sure are you?

55.0%

+ What do you gain per year?

Total Gains per Share

$0.37

Return On Investment

0.2%

For what price can you sell your share?

Current Price per Share

$149.81

Expected price per share

$114.65 - $161.50

How sure are you?

50%

1. Valuation of Hyatt (5 min.)

Live pricePrice per Share (EOD)

$149.81

Book Value per Share

$33.62

Intrinsic Value Per Share

$48.74 - $288.18

Total Value Per Share

$82.36 - $321.80

My calculation of the intrinsic value of Hyatt is based how much money is coming from the company's main activities (Free Cash Flow).

The following numbers are based on moving averages and per share and per quarter.
I use a 6% discount rate for the low estimation and 3% for the high estimation.
The current Free Cash Flow Per Share is 10Y: ($0.33) 3Y: ($0.98) TTM: ($1.40)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($0.07) 3Y: ($0.38) TTM: ($0.24)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$1.94	$7.55	$2.43 - $9.97
2	$4.77	$20.64	$3.54 - $16.01
3	$8.41	$38.93	$4.65 - $22.05
4	$12.73	$62.13	$5.76 - $28.10
5	$17.66	$89.92	$6.88 - $34.14
6	$23.11	$122.02	$7.99 - $40.18
7	$29.01	$158.15	$9.10 - $46.23
8	$35.29	$198.05	$10.21 - $52.27
9	$41.88	$241.48	$11.32 - $58.31
10	$48.74	$288.18	$12.43 - $64.35

2. Growth of Hyatt (5 min.)

Is Hyatt growing?

	Current year	Previous year	Grow	Grow %
How rich?	$3.5b	$3.5b	$63.2m	1.7%

How much money is Hyatt making?

	Current year	Previous year	Grow	Grow %
Making money	$71.5m	$113.7m	-$42.2m	-59.1%
Net Profit Margin	4.3%	7.1%	-	-

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

Quarterly Yearly

3. Financial Health of Hyatt (5 min.)

4. Comparing to competitors in the Lodging industry (5 min.)

Industry Rankings (Lodging)

Richest
#6 / 143

Most Revenue
#12 / 143

Most Profit
#16 / 143

Most Efficient
#67 / 143

What can you expect buying and holding a share of Hyatt? (5 min.)

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

What can you expect buying and holding a share of Hyatt?

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

Speculation

The Price per Share of Hyatt is $149.81. 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 Hyatt.
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 Hyatt, 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 $33.62. Based on the TTM, the Book Value Change Per Share is $-0.05 per quarter. Based on the YOY, the Book Value Change Per Share is $0.36 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 $0.15 per quarter.

Based on historical numbers we can estimate the returns while holding a share of Hyatt.

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	0.25	0.2%	0.51	0.3%	1.03	0.7%	0.21	0.1%	0.44	0.3%
Usd Book Value Change Per Share	0.03	0.0%	-0.05	0.0%	0.36	0.2%	0.01	0.0%	0.08	0.1%
Usd Dividend Per Share	0.14	0.1%	0.15	0.1%	0.07	0.0%	0.12	0.1%	0.11	0.1%
Usd Total Gains Per Share	0.17	0.1%	0.09	0.1%	0.44	0.3%	0.13	0.1%	0.19	0.1%
Usd Price Per Share	130.41	-	115.72	-	85.19	-	83.74	-	71.74	-
Price to Earnings Ratio	133.04	-	68.17	-	15.67	-	3.40	-	22.83	-
Price-to-Total Gains Ratio	747.22	-	319.58	-	-5.34	-	106.80	-	46.39	-
Price to Book Ratio	3.88	-	3.42	-	2.64	-	2.53	-	2.24	-
Price-to-Total Gains Ratio	747.22	-	319.58	-	-5.34	-	106.80	-	46.39	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	149.81
Number of shares	6

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.15	0.12
Usd Book Value Change Per Share	-0.05	0.01
Usd Total Gains Per Share	0.09	0.13
Gains per Quarter (6 shares)	0.55	0.80
Gains per Year (6 shares)	2.20	3.21

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	4	-1	-8	3	0	-7
2	7	-3	-6	6	1	-4
3	11	-4	-4	9	1	-1
4	14	-5	-2	12	1	2
5	18	-7	0	15	2	5
6	21	-8	2	17	2	8
7	25	-9	4	20	2	11
8	28	-11	6	23	2	14
9	32	-12	8	26	3	17
10	35	-13	10	29	3	20

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%	8.0	4.0	0.0	66.7%	12.0	8.0	0.0	60.0%	32.0	8.0	0.0	80.0%	52.0	10.0	0.0	83.9%
Book Value Change Per Share	3.0	1.0	0.0	75.0%	7.0	5.0	0.0	58.3%	11.0	9.0	0.0	55.0%	20.0	20.0	0.0	50.0%	35.0	26.0	1.0	56.5%
Dividend per Share	4.0	0.0	0.0	100.0%	6.0	0.0	6.0	50.0%	14.0	0.0	6.0	70.0%	21.0	0.0	19.0	52.5%	22.0	0.0	40.0	35.5%
Total Gains per Share	3.0	1.0	0.0	75.0%	7.0	5.0	0.0	58.3%	11.0	9.0	0.0	55.0%	22.0	18.0	0.0	55.0%	37.0	24.0	1.0	59.7%

Fundamentals of Hyatt

About Hyatt Hotels Corporation

https://www.hyatt.com
Lodging
51000
150 North Riverside Plaza, Chicago, IL, United States, 60606
Google Maps Bing Maps

Hyatt Hotels Corporation operates as a hospitality company in the United States and internationally. It operates through Owned and Leased Hotels, Americas Management and Franchising, ASPAC Management and Franchising, EAME Management and Franchising, and Apple Leisure Group segments. The company manages, franchises, licenses, owns, and leases portfolio of properties, consisting of full-service hotels and resorts, select service hotels, and other properties, including timeshare, fractional, residential, vacation, and condominium units. It operates its properties under the Park Hyatt, Grand Hyatt, Hyatt Regency, Hyatt, Hyatt vacation Club, Hyatt Place, Hyatt House, Hyatt Studios, UrCove, Miraval, Alila, Andaz, Thompson Hotels, Dream Hotels, Hyatt Centric, Caption by Hyatt, The Unbound Collection by Hyatt, Destination by Hyatt, JdV by Hyatt, Hyatt Ziva, Hyatt Zilara, Zoëtry Wellness & Spa Resorts, Secrets Resorts & Spas, Breathless Resorts & Spas, Dreams Resorts & Spas, Hyatt Vivid Hotel & Resorts, Alua Hotels & Resorts, and Sunscape Resorts & Spas brand name. The company offers short-term vacation rental platform, Homes & Hideaways by World of Hyatt, that features direct booking for short-term private home rentals in the United States. It primarily serves corporations; national, state, and regional associations; specialty market accounts, including social, government, military, educational, religious, and fraternal organizations; travel agency and luxury organizations; and a group of individual consumers. It also operates World of Hyatt loyalty program, which rewards points that can be redeemed for hotel nights and other rewards. Hyatt Hotels Corporation was founded in 1957 and is headquartered in Chicago, Illinois.

Fundamental data was last updated by Penke on 2024-04-04 15:11:03.

Financial Health

Profitability Details

	Compared to previous year	Compared to industry
The company is making a 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 less efficient.
The company is less efficient in keeping operating costs low.

Liquidity Details

	Compared to previous year	Compared to industry
The company is unable to pay all its short-term debts.
The company is just not 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 able to pay all its debts by selling its assets.
The company is just not able to pay all its debts with equity.

Valuation

Valuation Details

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

1.1. Profitability of Hyatt Hotels Corporation.

1.1. Profitability

1.1.1. Net Profit Margin

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

Above 10% is considered healthy but always compare Hyatt to the Lodging industry mean.
A Net Profit Margin of 1.5% means that $0.02 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Hyatt Hotels Corporation:

The MRQ is 1.5%. The company is making a profit. +1
The TTM is 4.3%. The company is making a profit. +1

Trends

Current period		Compared to		+/-
MRQ	1.5%	TTM	4.3%	-2.8%
TTM	4.3%	YOY	7.1%	-2.8%
TTM	4.3%	5Y	-7.3%	+11.6%
5Y	-7.3%	10Y	0.2%	-7.4%

Compared to industry (Lodging)

Period	Company	Industry (mean)	+/-
MRQ	1.5%	2.5%	-1.0%
TTM	4.3%	4.4%	-0.1%
YOY	7.1%	-5.0%	+12.1%
5Y	-7.3%	-8.5%	+1.2%
10Y	0.2%	-2.1%	+2.3%

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

Revenue is the amount of profit Hyatt 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 Hyatt 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 Hyatt to the Lodging industry mean.
Can be used to compare companies within the Lodging industry.

You typically want a high profit margin. This means that for each $1 in sales, Hyatt makes more profit. This shows the investor how efficiently Hyatt is operating in general and compared to other companies in the same industry. Hyatt operates in the Lodging industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of Hyatt. If profit margins remain low (compared to the Lodging 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 Hyatt is 0.02. This means that Hyatt earned $0.02 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 Lodging industry is 2.5%.
What is the trend?
The trend is important because it shows you how Hyatt is performing over time. The most recent quarter might be important if Hyatt 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 Hyatt 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 Hyatt with other companies in the same industry (Lodging).
Net profit margin should rise over the years.
Can be influenced when Hyatt sells assets (profit will increase while costs remain the same).
It won’t show what part of Hyatt 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 Hyatt

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 Hyatt = 26,000
Total revenue MRQ Hyatt = 1,689,000
$26,000 / $1,689,000 = 0.02 or 1.5%

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 Hyatt is using its assets to generate profit.

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

Let's take a look of the Return on Assets trends of Hyatt Hotels Corporation:

The MRQ is 0.2%. Using its assets, the company is inefficient in making profit. -1
The TTM is 0.6%. Using its assets, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	0.2%	TTM	0.6%	-0.4%
TTM	0.6%	YOY	0.9%	-0.3%
TTM	0.6%	5Y	0.2%	+0.3%
5Y	0.2%	10Y	0.7%	-0.4%

Compared to industry (Lodging)

Period	Company	Industry (mean)	+/-
MRQ	0.2%	0.4%	-0.2%
TTM	0.6%	0.6%	0.0%
YOY	0.9%	-0.4%	+1.3%
5Y	0.2%	-0.2%	+0.4%
10Y	0.7%	0.6%	+0.1%

Shows how efficient Hyatt 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 Hyatt to the Lodging 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 Hyatt is using its resources to generate profit. If the return on assets (0.2%) from Hyatt are higher than the Lodging mean (0.4%) that means Hyatt 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 Hyatt 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 Lodging industry is 0.4%.
What is the trend?
The trend is important because it shows you how Hyatt is performing over time. The most recent quarter might be important if Hyatt 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 Hyatt 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 Hyatt

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

Income statement
Balance sheet

Net income MRQ (income statement) from Hyatt = 26,000
Total assets MRQ (balance sheet) from Hyatt = 12,833,000
26,000 / 12,833,000 = 0.00 or 0.2%

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

Above 15%-20% is considered healthy but always compare Hyatt to the Lodging industry mean.
0.7% Return on Equity means Hyatt generated $0.01 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Hyatt Hotels Corporation:

The MRQ is 0.7%. Using its investors money, the company is inefficient in making profit. -1
The TTM is 2.0%. Using its investors money, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	0.7%	TTM	2.0%	-1.2%
TTM	2.0%	YOY	3.1%	-1.1%
TTM	2.0%	5Y	0.6%	+1.4%
5Y	0.6%	10Y	1.3%	-0.7%

Compared to industry (Lodging)

Period	Company	Industry (mean)	+/-
MRQ	0.7%	1.2%	-0.5%
TTM	2.0%	1.5%	+0.5%
YOY	3.1%	-1.1%	+4.2%
5Y	0.6%	-0.5%	+1.1%
10Y	1.3%	0.9%	+0.4%

Shows how efficient Hyatt 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 Hyatt to the Lodging 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 Lodging 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 Hyatt is 0.7%. This means Hyatt generated $0.01 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the Lodging industry is 1.2%.
What is the trend?
The trend is important because it shows you how Hyatt is performing over time. The most recent quarter might be important if Hyatt 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 Hyatt up to 10 years back (depending if Hyatt 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 Hyatt

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Hyatt = 26,000
Shareholders equity (balance sheet) MRQ Hyatt = 3,564,000
26,000 / 3,564,000 = 0.01 or 0.7%

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 Hyatt Hotels Corporation.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Hyatt is operating .

Measures how much profit Hyatt 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 Hyatt to the Lodging industry mean.
An Operating Margin of 3.3% means the company generated $0.03 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Hyatt Hotels Corporation:

The MRQ is 3.3%. The company is operating less efficient.
The TTM is 5.2%. The company is operating less efficient.

Trends

Current period		Compared to		+/-
MRQ	3.3%	TTM	5.2%	-1.9%
TTM	5.2%	YOY	7.5%	-2.2%
TTM	5.2%	5Y	-9.5%	+14.8%
5Y	-9.5%	10Y	-0.7%	-8.8%

Compared to industry (Lodging)

Period	Company	Industry (mean)	+/-
MRQ	3.3%	11.3%	-8.0%
TTM	5.2%	7.9%	-2.7%
YOY	7.5%	1.9%	+5.6%
5Y	-9.5%	-2.7%	-6.8%
10Y	-0.7%	2.7%	-3.4%

Measures how efficient Hyatt 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 Hyatt to the Lodging 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 Hyatt 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 Hyatt is 3.3%. This means that Hyatt earned $0.03 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Lodging industry is 11.3%.
What is the trend?
The trend is important because it shows you how Hyatt is performing over time. The most recent quarter might be important if Hyatt 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 Hyatt 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 Hyatt

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Hyatt = 56,000
Total revenue MRQ Hyatt = 1,689,000
$56,000 / $1,689,000 = 0.03 or 3.3%

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 Hyatt is keeping operating costs low.

Below 1 is considered healthy (always compare to Lodging industry mean).
An Operation Ratio of 0.97 means that the operating costs are $0.97 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Hyatt Hotels Corporation:

The MRQ is 0.967. The company is less efficient in keeping operating costs low.
The TTM is 0.851. The company is less efficient in keeping operating costs low.

Trends

Current period		Compared to		+/-
MRQ	0.967	TTM	0.851	+0.116
TTM	0.851	YOY	0.933	-0.082
TTM	0.851	5Y	1.070	-0.219
5Y	1.070	10Y	1.001	+0.069

Compared to industry (Lodging)

Period	Company	Industry (mean)	+/-
MRQ	0.967	1.237	-0.270
TTM	0.851	1.194	-0.343
YOY	0.933	1.319	-0.386
5Y	1.070	1.352	-0.282
10Y	1.001	1.208	-0.207

Measures how efficient Hyatt 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 Hyatt to the Lodging 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 Hyatt is 96.7%. This means that Hyatt earned $0.97 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 Lodging industry is 1.24.
What is the trend?
The trend is important because it shows you how Hyatt is performing over time. The most recent quarter might be important if Hyatt 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 Hyatt 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 Hyatt

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
(1,465,000 +168,000) \ 1,689,000 = 0.97

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 Hyatt Hotels Corporation.

1.3. Liquidity

1.3.1. Current Ratio

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

Above 1.5 is considered healthy (always compare to Lodging industry mean).
A Current Ratio of 0.60 means the company has $0.60 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Hyatt Hotels Corporation:

The MRQ is 0.595. The company is unable to pay all its short-term debts. -2
The TTM is 0.681. The company is unable to pay all its short-term debts. -2

Trends

Current period		Compared to		+/-
MRQ	0.595	TTM	0.681	-0.086
TTM	0.681	YOY	0.951	-0.270
TTM	0.681	5Y	1.547	-0.866
5Y	1.547	10Y	1.565	-0.018

Compared to industry (Lodging)

Period	Company	Industry (mean)	+/-
MRQ	0.595	1.124	-0.529
TTM	0.681	1.046	-0.365
YOY	0.951	1.204	-0.253
5Y	1.547	1.271	+0.276
10Y	1.565	1.297	+0.268

Measures if Hyatt 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 Lodging 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 Hyatt 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 Hyatt is 0.60. This means Hyatt has $0.60 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Lodging industry is 1.12.
What is the trend?
The trend is important because it shows you how Hyatt is performing over time. The most recent quarter might be important if Hyatt 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 Hyatt 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 Hyatt

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
2,130,000 \ 3,578,000) = 0.60

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

Above 1 is considered healthy but always compare Hyatt to the Lodging industry mean.
A Quick Ratio of 0.53 means the company can pay off $0.53 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Hyatt Hotels Corporation:

The MRQ is 0.531. The company is just not able to pay all its short-term debts with the most liquid assets. -1
The TTM is 0.602. The company is just not able to pay all its short-term debts with the most liquid assets. -1

Trends

Current period		Compared to		+/-
MRQ	0.531	TTM	0.602	-0.071
TTM	0.602	YOY	0.903	-0.301
TTM	0.602	5Y	1.531	-0.929
5Y	1.531	10Y	1.367	+0.164

Compared to industry (Lodging)

Period	Company	Industry (mean)	+/-
MRQ	0.531	0.397	+0.134
TTM	0.602	0.422	+0.180
YOY	0.903	0.488	+0.415
5Y	1.531	0.686	+0.845
10Y	1.367	0.747	+0.620

1.4. Solvency of Hyatt Hotels Corporation.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

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

Below 1 (100%) is considered healthy but always compare Hyatt to Lodging industry mean.
A Debt to Asset Ratio of 0.72 means that Hyatt assets are financed with 72.2% credit (debt) and the remaining percentage (100% - 72.2%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of Hyatt Hotels Corporation:

The MRQ is 0.722. The company is able to pay all its debts by selling its assets. +1
The TTM is 0.711. The company is able to pay all its debts by selling its assets. +1

Trends

Current period		Compared to		+/-
MRQ	0.722	TTM	0.711	+0.011
TTM	0.711	YOY	0.715	-0.003
TTM	0.711	5Y	0.649	+0.062
5Y	0.649	10Y	0.563	+0.086

Compared to industry (Lodging)

Period	Company	Industry (mean)	+/-
MRQ	0.722	0.473	+0.249
TTM	0.711	0.499	+0.212
YOY	0.715	0.489	+0.226
5Y	0.649	0.472	+0.177
10Y	0.563	0.473	+0.090

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

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

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Hyatt to Lodging 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 Hyatt is 0.72. This means means that Hyatt is financed with 72.2% credit and the remaining percentage is financed by it's owners (shareholders).
How does it compare to the industry?
The mean MRQ Current Ratio of the Lodging industry is 112.4%.
What is the trend?
The trend is important because it shows you how Hyatt is performing over time. The most recent quarter might be important if Hyatt 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 Hyatt 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 Hyatt has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Hyatt

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

Balance sheet
Debt to asset ratio = total debt \ total assets
9,266,000 \ 12,833,000 = 72.2% or 0.72.

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

Below 2 is considered healthy but always compare Hyatt to the Lodging industry mean.
A Debt to Equity ratio of 260.0% means that company has $2.60 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Hyatt Hotels Corporation:

The MRQ is 2.600. The company is unable to pay all its debts with equity. -1
The TTM is 2.467. The company is just not able to pay all its debts with equity.

Trends

Current period		Compared to		+/-
MRQ	2.600	TTM	2.467	+0.133
TTM	2.467	YOY	2.509	-0.042
TTM	2.467	5Y	1.961	+0.506
5Y	1.961	10Y	1.442	+0.519

Compared to industry (Lodging)

Period	Company	Industry (mean)	+/-
MRQ	2.600	0.814	+1.786
TTM	2.467	0.873	+1.594
YOY	2.509	0.922	+1.587
5Y	1.961	0.909	+1.052
10Y	1.442	0.944	+0.498

Measures if Hyatt 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 Hyatt 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 Hyatt is 2.60. This means that Hyatt can pay off $2.60 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Lodging industry is 0.81.
What is the trend?
The trend is important because it shows you how Hyatt is performing over time. The most recent quarter might be important if Hyatt 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 Hyatt 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 Hyatt

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
9,266,000 \ 3,564,000 = 2.60 or 260.0%

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

Common shares.
Preferred shares.
Retained earnings.

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

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

2. Market Valuation of Hyatt Hotels Corporation

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 Hyatt generates.

Above 15 is considered overpriced but always compare Hyatt to the Lodging industry mean.
A PE ratio of 133.04 means the investor is paying $133.04 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Hyatt Hotels Corporation:

The EOD is 152.835. Based on the earnings, the company is expensive. -2
The MRQ is 133.043. Based on the earnings, the company is expensive. -2
The TTM is 68.173. Based on the earnings, the company is expensive. -2

Trends

Current period		Compared to		+/-
EOD	152.835	MRQ	133.043	+19.792
MRQ	133.043	TTM	68.173	+64.870
TTM	68.173	YOY	15.674	+52.500
TTM	68.173	5Y	3.404	+64.769
5Y	3.404	10Y	22.833	-19.429

Compared to industry (Lodging)

Period	Company	Industry (mean)	+/-
EOD	152.835	10.240	+142.595
MRQ	133.043	10.368	+122.675
TTM	68.173	8.135	+60.038
YOY	15.674	-1.309	+16.983
5Y	3.404	4.955	-1.551
10Y	22.833	16.751	+6.082

Measures how much money you pay for each share for every $1 in earnings Hyatt 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 Hyatt to the Lodging 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 Hyatt is 133.04. This means the investor is paying $133.04 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Lodging industry is 10.37.
What is the trend?
The trend is important because it shows you how Hyatt is performing over time. The most recent quarter might be important if Hyatt 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 Hyatt 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 Hyatt

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 \ 106,100 = EPS
PE ratio MRQ = 133.04

* 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 Hyatt Hotels Corporation:

The EOD is 12.944. Based on how much money comes from the company's main activities, the company is cheap. +2
The MRQ is 11.268. Based on how much money comes from the company's main activities, the company is cheap. +2
The TTM is 723.255. Based on how much money comes from the company's main activities, the company is expensive. -2

Trends

Current period		Compared to		+/-
EOD	12.944	MRQ	11.268	+1.676
MRQ	11.268	TTM	723.255	-711.987
TTM	723.255	YOY	-19.854	+743.109
TTM	723.255	5Y	75.091	+648.164
5Y	75.091	10Y	47.810	+27.281

Compared to industry (Lodging)

Period	Company	Industry (mean)	+/-
EOD	12.944	7.061	+5.883
MRQ	11.268	6.705	+4.563
TTM	723.255	6.065	+717.190
YOY	-19.854	3.734	-23.588
5Y	75.091	0.328	+74.763
10Y	47.810	0.472	+47.338

2. Book Value per Share

2.3. Price to Book Ratio

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

At or below 1 is considered healthy (always compare to Lodging industry mean).
A PB ratio of 3.88 means the investor is paying $3.88 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Hyatt Hotels Corporation:

The EOD is 4.456. Based on the equity, the company is fair priced.
The MRQ is 3.879. Based on the equity, the company is fair priced.
The TTM is 3.422. Based on the equity, the company is fair priced.

Trends

Current period		Compared to		+/-
EOD	4.456	MRQ	3.879	+0.577
MRQ	3.879	TTM	3.422	+0.457
TTM	3.422	YOY	2.639	+0.783
TTM	3.422	5Y	2.530	+0.892
5Y	2.530	10Y	2.241	+0.289

Compared to industry (Lodging)

Period	Company	Industry (mean)	+/-
EOD	4.456	1.031	+3.425
MRQ	3.879	1.028	+2.851
TTM	3.422	1.064	+2.358
YOY	2.639	1.008	+1.631
5Y	2.530	1.037	+1.493
10Y	2.241	1.522	+0.719

2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of Hyatt Hotels Corporation.

3.1. Institutions holding Hyatt Hotels Corporation

Institutions are holding 110.662% of the shares of Hyatt Hotels Corporation.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	BAMCO Inc	5.2527	1.8772	5405089	77810	1.4606
2023-12-31	Vanguard Group Inc	4.1024	0.012	4221373	144356	3.5407
2023-12-31	BlackRock Inc	3.9595	0.0136	4074421	1923490	89.4259
2023-12-31	Massachusetts Financial Services Company	2.9605	0.1283	3046430	430	0.0141
2023-12-31	Wellington Management Company LLP	2.4752	0.0619	2546984	-370564	-12.7012
2023-12-31	Principal Financial Group Inc	2.3375	0.2	2405283	148804	6.5945
2023-12-31	Select Equity Group LP	2.128	1.0164	2189781	-134419	-5.7835
2023-12-31	Morgan Stanley - Brokerage Accounts	2.1047	0.0249	2165784	-29127	-1.327
2023-12-31	Franklin Resources Inc	1.8932	0.1188	1948171	432594	28.5432
2023-12-31	Bank of Nova Scotia	1.6253	0.4089	1672454	9919	0.5966
2023-12-31	State Street Corporation	1.3981	0.0091	1438662	530543	58.4222
2023-12-31	AllianceBernstein L.P.	1.2135	0.0627	1248682	-39294	-3.0508
2023-12-31	Canada Pension Plan Investment Board	0.8778	0.1487	903230	0	0
2023-12-31	Goldman Sachs Group Inc	0.7955	0.0096	818566	469646	134.5999
2023-12-31	Southeastern Asset Management Inc	0.7774	4.0107	800003	-255182	-24.1836
2023-12-31	Eagle Asset Management, Inc.	0.677	0.4871	696595	-231481	-24.942
2023-12-31	Geode Capital Management, LLC	0.6716	0.0094	691110	16324	2.4191
2023-12-31	Ameriprise Financial Inc	0.6597	0.0265	678886	37465	5.8409
2023-12-31	Cadian Capital Management LP	0.5654	3.0226	581800	-40000	-6.4329
2023-12-31	Fiera Capital Corporation	0.5586	0.2301	574778	5142	0.9027
Total		37.0336	11.8785	38108082	+2696456	+7.1%

3.2. Funds holding Hyatt Hotels Corporation

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	Baron Partners Retail	3.2313	6.2437	3325000	0	0
2024-02-29	Templeton Growth A	1.6894	1.551	1738402	0	0
2024-02-29	Principal MidCap R5	1.6199	1.0956	1666848	0	0
2023-12-31	Principal Aligned MidCap Equity	1.6157	1.0029	1662567	-9560	-0.5717
2023-12-31	MFS Mid Cap Growth Equity	1.5131	1.4809	1556979	0	0
2024-02-29	MFS Mid Cap Growth A	1.5079	1.6273	1551655	-5324	-0.3419
2024-02-29	Vanguard Total Stock Mkt Idx Inv	1.3565	0.0138	1395867	-2752	-0.1968
2024-02-29	iShares Core S&P Mid-Cap ETF	1.3082	0.2566	1346177	-3889	-0.2881
2024-02-29	Vanguard Small Cap Index	1.1077	0.1246	1139807	10545	0.9338
2024-02-29	Templeton Growth (Euro) I(acc)EUR	0.8584	1.7719	883298	0	0
2023-12-31	MFS Mid Cap Value Equity	0.7443	0.6166	765885	-13346	-1.7127
2024-02-29	MFS Mid Cap Value A	0.7355	0.7053	756804	-9081	-1.1857
2023-12-31	Eagle Mid-Cap Growth - Institutional	0.6379	1.0157	656423	-218010	-24.9316
2024-02-29	Vanguard Institutional Extnd Mkt Idx Tr	0.6358	0.0985	654255	6546	1.0106
2024-02-29	Vanguard Small Cap Growth Index Inv	0.6218	0.2816	639859	9948	1.5793
2023-12-31	Baron Mid Cap Growth Strategy	0.5279	1.4688	543233	0	0
2023-12-31	Baron Asset Retail	0.5279	1.4737	543233	0	0
2024-02-29	Hartford MidCap Y	0.509	1.2399	523807	-3019	-0.5731
2023-12-31	Carillon Eagle Mid Cap Growth A	0.4907	1.0169	504961	-172613	-25.4752
2023-12-31	Baron Focused Growth Retail	0.4859	4.8885	500000	0	0
Total		21.7248	27.9738	22355060	-410555	-1.8%

3.3. Insider Transactions

Insiders are holding 3.376% of the shares of Hyatt Hotels Corporation.

Date	Owner	Type	Amount	Price
2024-03-22	Traubert Foundation Pritzker	SELL	704229	157.97
2024-03-20	Margaret C Egan	SELL	1000	157.78
2024-03-13	F.l.p. Trust #14	SELL	1283000	155.96
2024-03-11	Mark R Vondrasek	SELL	9867	154.11
2024-03-06	Mark Samuel Hoplamazian	SELL	75457	158.47
2024-02-01	Joan Bottarini	SELL	4250	128.72
2024-01-09	Jnp Parachute Mirror Trust L	SELL	66701	126.21
2023-12-21	Joan Bottarini	SELL	4250	129.39
2023-12-07	Malaika Myers	SELL	3351	120.35
2023-09-21	Richard C Tuttle	BUY	1250	104.49
2023-08-17	Michael A Rocca	SELL	1508	113.87
2023-08-14	Susan D Kronick	SELL	1508	116.99
2023-05-15	H. Charles Floyd	SELL	6000	114

4. Summary

4.1. Key Performance Indicators

The key performance indicators of Hyatt Hotels Corporation 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	-	-	0.033	-0.055	+266%	0.363	-91%	0.013	+162%	0.080	-58%
Book Value Per Share	-	-	33.619	33.815	-1%	32.284	+4%	33.277	+1%	31.887	+5%
Current Ratio	-	-	0.595	0.681	-13%	0.951	-37%	1.547	-62%	1.565	-62%
Debt To Asset Ratio	-	-	0.722	0.711	+2%	0.715	+1%	0.649	+11%	0.563	+28%
Debt To Equity Ratio	-	-	2.600	2.467	+5%	2.509	+4%	1.961	+33%	1.442	+80%
Dividend Per Share	-	-	0.141	0.147	-4%	0.073	+95%	0.121	+17%	0.115	+23%
Eps	-	-	0.245	0.511	-52%	1.029	-76%	0.214	+14%	0.436	-44%
Free Cash Flow Per Share	-	-	2.893	1.396	+107%	1.072	+170%	0.240	+1107%	0.330	+778%
Free Cash Flow To Equity Per Share	-	-	1.838	0.050	+3542%	-1.443	+179%	0.557	+230%	-0.110	+106%
Gross Profit Margin	-	-	1.000	1.000	0%	1.000	0%	1.000	0%	1.000	0%
Intrinsic Value_10Y_max	-	-	288.183	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	48.741	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	7.548	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	1.936	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	38.935	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	8.405	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	89.920	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	17.661	-	-	-	-	-	-	-	-
Market Cap	6765824087.000	-105%	13836501000.000	12430470890.095	+11%	9418052641.483	+47%	8913422371.577	+55%	8439069897.311	+64%
Net Profit Margin	-	-	0.015	0.043	-64%	0.071	-78%	-0.073	+572%	0.002	+832%
Operating Margin	-	-	0.033	0.052	-37%	0.075	-56%	-0.095	+387%	-0.007	+121%
Operating Ratio	-	-	0.967	0.851	+14%	0.933	+4%	1.070	-10%	1.001	-3%
Pb Ratio	4.456	+13%	3.879	3.422	+13%	2.639	+47%	2.530	+53%	2.241	+73%
Pe Ratio	152.835	+13%	133.043	68.173	+95%	15.674	+749%	3.404	+3808%	22.833	+483%
Price Per Share	149.810	+13%	130.410	115.715	+13%	85.193	+53%	83.743	+56%	71.741	+82%
Price To Free Cash Flow Ratio	12.944	+13%	11.268	723.255	-98%	-19.854	+276%	75.091	-85%	47.810	-76%
Price To Total Gains Ratio	858.380	+13%	747.222	319.578	+134%	-5.337	+101%	106.804	+600%	46.391	+1511%
Quick Ratio	-	-	0.531	0.602	-12%	0.903	-41%	1.531	-65%	1.367	-61%
Return On Assets	-	-	0.002	0.006	-65%	0.009	-78%	0.002	-15%	0.007	-69%
Return On Equity	-	-	0.007	0.020	-63%	0.031	-76%	0.006	+28%	0.013	-45%
Total Gains Per Share	-	-	0.175	0.092	+91%	0.435	-60%	0.134	+31%	0.194	-10%
Usd Book Value	-	-	3567000000.000	3634250000.000	-2%	3571000000.000	0%	3527200000.000	+1%	3810800000.000	-6%
Usd Book Value Change Per Share	-	-	0.033	-0.055	+266%	0.363	-91%	0.013	+162%	0.080	-58%
Usd Book Value Per Share	-	-	33.619	33.815	-1%	32.284	+4%	33.277	+1%	31.887	+5%
Usd Dividend Per Share	-	-	0.141	0.147	-4%	0.073	+95%	0.121	+17%	0.115	+23%
Usd Eps	-	-	0.245	0.511	-52%	1.029	-76%	0.214	+14%	0.436	-44%
Usd Free Cash Flow	-	-	307000000.000	149750000.000	+105%	118250000.000	+160%	28500000.000	+977%	42575000.000	+621%
Usd Free Cash Flow Per Share	-	-	2.893	1.396	+107%	1.072	+170%	0.240	+1107%	0.330	+778%
Usd Free Cash Flow To Equity Per Share	-	-	1.838	0.050	+3542%	-1.443	+179%	0.557	+230%	-0.110	+106%
Usd Market Cap	6765824087.000	-105%	13836501000.000	12430470890.095	+11%	9418052641.483	+47%	8913422371.577	+55%	8439069897.311	+64%
Usd Price Per Share	149.810	+13%	130.410	115.715	+13%	85.193	+53%	83.743	+56%	71.741	+82%
Usd Profit	-	-	26000000.000	71500000.000	-64%	113750000.000	-77%	29100000.000	-11%	56800000.000	-54%
Usd Revenue	-	-	1689000000.000	1674000000.000	+1%	1472750000.000	+15%	1135050000.000	+49%	1125300000.000	+50%
Usd Total Gains Per Share	-	-	0.175	0.092	+91%	0.435	-60%	0.134	+31%	0.194	-10%
	EOD	+2 -6	MRQ	TTM	+15 -20	YOY	+14 -21	5Y	+26 -9	10Y	+18 -17

4.2. Fundamental Score

Let's check the fundamental score of Hyatt Hotels Corporation based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	152.835
Price to Book Ratio (EOD)	Between	0-1	4.456
Net Profit Margin (MRQ)	Greater than	0	0.015
Operating Margin (MRQ)	Greater than	0	0.033
Quick Ratio (MRQ)	Greater than	1	0.531
Current Ratio (MRQ)	Greater than	1	0.595
Debt to Asset Ratio (MRQ)	Less than	1	0.722
Debt to Equity Ratio (MRQ)	Less than	1	2.600
Return on Equity (MRQ)	Greater than	0.15	0.007
Return on Assets (MRQ)	Greater than	0.05	0.002
Total			3/10 (30.0%)

Create your own Stock Scanner

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4.3. Technical Score

Let's check the technical score of Hyatt Hotels Corporation based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	43.772
Ma 20	Greater than	Ma 50	154.262
Ma 50	Greater than	Ma 100	151.400
Ma 100	Greater than	Ma 200	139.581
Open	Greater than	Close	146.470
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
Other Current Assets		180,000	25,000	205,000	-13,000	192,000	-9,000	183,000	-2,078,000	-1,895,000
Other Stockholders Equity		318,000	-83,000	235,000	-80,000	155,000	-130,000	25,000	-48,000	-23,000

Latest Balance Sheet

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

Summary

Total Assets	12,833,000
Total Liabilities	9,266,000
Total Stockholder Equity	3,564,000

	As reported
Total Liabilities	9,266,000
Total Stockholder Equity	+ 3,564,000
Total Assets	= 12,833,000

Assets

Total Assets	12,833,000
Total Current Assets	2,130,000
Long-term Assets	10,703,000

Total Current Assets

Total Current Assets (as reported)	2,130,000
Cash And Cash Equivalents	915,000
Short-term Investments	15,000
Net Receivables	956,000
Inventory	9,000
Total Current Assets (calculated)	1,895,000
+/-	235,000

Long-term Assets

Long-term Assets (as reported)	10,703,000
Property Plant Equipment	369,000
Goodwill	3,205,000
Long Term Investments	993,000
Intangible Assets	1,670,000
Long-term Assets Other	4,144,000
Long-term Assets (calculated)	10,381,000
+/-	322,000

Liabilities & Shareholders' Equity

Total Current Liabilities	3,578,000
Long-term Liabilities	5,688,000
Total Stockholder Equity	3,564,000

Total Current Liabilities

Total Current Liabilities (as reported)	3,578,000
Short-term Debt	792,000
Short Long Term Debt	751,000
Accounts payable	493,000
Other Current Liabilities	695,000
Total Current Liabilities (calculated)	2,731,000
+/-	847,000

Long-term Liabilities

Long-term Liabilities (as reported)	5,688,000
Long term Debt	2,305,000
Capital Lease Obligations	314,000
Long-term Liabilities Other	316,000
Long-term Liabilities (calculated)	2,935,000
+/-	2,753,000

Total Stockholder Equity

Total Stockholder Equity (as reported)	3,564,000
Common Stock	1,000
Retained Earnings	3,738,000
Accumulated Other Comprehensive Income	-152,000
Other Stockholders Equity	-23,000
Total Stockholder Equity (calculated)	3,564,000
+/-	0

Other

Capital Stock	1,000
Cash and Short Term Investments	930,000
Common Stock Shares Outstanding	106,100
Current Deferred Revenue	1,598,000
Liabilities and Stockholders Equity	12,833,000
Net Debt	2,455,000
Net Invested Capital	6,620,000
Net Working Capital	-1,448,000
Property Plant and Equipment Gross	4,958,000
Short Long Term Debt Total	3,370,000

Balance Sheet

Currency in USD. All numbers in thousands.

Trend

2023-12-31

2023-09-30

2023-06-30

2023-03-31

2022-12-31

2022-09-30

2022-06-30

2022-03-31

2021-12-31

2021-09-30

2021-06-30

2021-03-31

2020-12-31

2020-09-30

2020-06-30

2020-03-31

2019-12-31

2019-09-30

2019-06-30

2019-03-31

2018-12-31

2018-09-30

2018-06-30

2018-03-31

2017-12-31

2017-09-30

2017-06-30

2017-03-31

2016-12-31

2016-09-30

2016-06-30

2016-03-31

2015-12-31

2015-09-30

2015-06-30

2015-03-31

2014-12-31

2014-09-30

2014-06-30

2014-03-31

2013-12-31

2013-09-30

2013-06-30

2013-03-31

2012-12-31

2012-09-30

2012-06-30

2012-03-31

2011-12-31

2011-09-30

2011-06-30

2011-03-31

2010-12-31

2010-09-30

2010-06-30

2010-03-31

2009-12-31

2009-09-30

2009-06-30

2009-03-31

2008-12-31

2008-09-30

> Total Assets

0
6,119,000
0
6,739,000
7,054,000
7,155,000
7,154,000
7,170,000
7,232,000
7,243,000
7,278,000
6,997,000
7,387,000
7,507,000
7,562,000
7,681,000
7,736,000
7,640,000
7,722,000
7,707,000
7,869,000
8,177,000
8,176,000
8,013,000
8,069,000
8,143,000
7,909,000
7,842,000
7,672,000
7,596,000
7,899,000
7,706,000
7,647,000
7,749,000
7,763,000
7,901,000
7,861,000
7,672,000
7,987,000
7,316,000
7,724,000
7,643,000
8,035,000
8,082,000
8,129,000
8,417,000
8,298,000
8,580,000
9,225,000
9,129,000
8,769,000
8,962,000
9,477,000
12,603,000
12,689,000
12,650,000
12,402,000
12,312,000
12,618,000
12,589,000
12,317,000
12,833,000

12,833,000

12,317,000

12,589,000

12,618,000

12,312,000

12,402,000

12,650,000

12,689,000

12,603,000

9,477,000

8,962,000

8,769,000

9,129,000

9,225,000

8,580,000

8,298,000

8,417,000

8,129,000

8,082,000

8,035,000

7,643,000

7,724,000

7,316,000

7,987,000

7,672,000

7,861,000

7,901,000

7,763,000

7,749,000

7,647,000

7,706,000

7,899,000

7,596,000

7,672,000

7,842,000

7,909,000

8,143,000

8,069,000

8,013,000

8,176,000

8,177,000

7,869,000

7,707,000

7,722,000

7,640,000

7,736,000

7,681,000

7,562,000

7,507,000

7,387,000

6,997,000

7,278,000

7,243,000

7,232,000

7,170,000

7,154,000

7,155,000

7,054,000

6,739,000

6,119,000

> Total Current Assets

0
1,057,000
0
1,529,000
1,894,000
1,989,000
2,162,000
2,211,000
2,200,000
2,165,000
2,185,000
1,898,000
1,688,000
1,591,000
1,581,000
1,440,000
1,876,000
1,758,000
1,696,000
1,839,000
1,756,000
1,163,000
1,462,000
1,354,000
1,113,000
1,709,000
1,574,000
1,483,000
1,287,000
1,124,000
1,462,000
1,347,000
1,219,000
1,139,000
1,048,000
1,363,000
1,268,000
1,327,000
2,196,000
1,727,000
1,943,000
1,345,000
1,302,000
1,304,000
1,476,000
1,706,000
1,753,000
1,938,000
2,638,000
2,563,000
2,332,000
2,474,000
3,239,000
2,062,000
2,597,000
2,892,000
2,634,000
2,250,000
2,150,000
1,990,000
1,751,000
2,130,000

2,130,000

1,751,000

1,990,000

2,150,000

2,250,000

2,634,000

2,892,000

2,597,000

2,062,000

3,239,000

2,474,000

2,332,000

2,563,000

2,638,000

1,938,000

1,753,000

1,706,000

1,476,000

1,304,000

1,302,000

1,345,000

1,943,000

1,727,000

2,196,000

1,327,000

1,268,000

1,363,000

1,048,000

1,139,000

1,219,000

1,347,000

1,462,000

1,124,000

1,287,000

1,483,000

1,574,000

1,709,000

1,113,000

1,354,000

1,462,000

1,163,000

1,756,000

1,839,000

1,696,000

1,758,000

1,876,000

1,440,000

1,581,000

1,591,000

1,688,000

1,898,000

2,185,000

2,165,000

2,200,000

2,211,000

2,162,000

1,989,000

1,894,000

1,529,000

1,057,000

Cash And Cash Equivalents

0
428,000
0
968,000
1,297,000
1,327,000
1,308,000
1,179,000
1,006,000
1,110,000
1,136,000
876,000
690,000
534,000
542,000
404,000
446,000
413,000
330,000
718,000
774,000
454,000
765,000
553,000
263,000
685,000
563,000
644,000
569,000
457,000
771,000
642,000
544,000
482,000
374,000
400,000
383,000
503,000
1,160,000
628,000
1,014,000
570,000
547,000
515,000
660,000
893,000
1,194,000
1,438,000
1,778,000
1,207,000
1,078,000
1,144,000
2,418,000
960,000
1,023,000
1,428,000
1,223,000
991,000
948,000
882,000
701,000
915,000

915,000

701,000

882,000

948,000

991,000

1,223,000

1,428,000

1,023,000

960,000

2,418,000

1,144,000

1,078,000

1,207,000

1,778,000

1,438,000

1,194,000

893,000

660,000

515,000

547,000

570,000

1,014,000

628,000

1,160,000

503,000

383,000

400,000

374,000

482,000

544,000

642,000

771,000

457,000

569,000

644,000

563,000

685,000

263,000

553,000

765,000

454,000

774,000

718,000

330,000

413,000

446,000

404,000

542,000

534,000

690,000

876,000

1,136,000

1,110,000

1,006,000

1,179,000

1,308,000

1,327,000

1,297,000

968,000

428,000

Short-term Investments

0
65,000
0
0
59,000
62,000
125,000
444,000
604,000
524,000
527,000
521,000
506,000
588,000
509,000
502,000
542,000
514,000
457,000
87,000
38,000
30,000
30,000
30,000
30,000
130,000
80,000
80,000
65,000
46,000
55,000
49,000
46,000
56,000
52,000
51,000
56,000
49,000
54,000
154,000
217,000
116,000
54,000
62,000
63,000
68,000
68,000
65,000
310,000
675,000
550,000
593,000
357,000
227,000
282,000
527,000
151,000
158,000
103,000
24,000
26,000
15,000

15,000

26,000

24,000

103,000

158,000

151,000

527,000

282,000

227,000

357,000

593,000

550,000

675,000

310,000

65,000

68,000

63,000

62,000

54,000

116,000

217,000

154,000

54,000

49,000

56,000

51,000

52,000

56,000

46,000

49,000

55,000

46,000

65,000

80,000

130,000

30,000

38,000

87,000

457,000

514,000

542,000

502,000

509,000

588,000

506,000

521,000

527,000

524,000

604,000

444,000

125,000

62,000

59,000

65,000

Net Receivables

0
353,000
0
255,000
330,000
410,000
378,000
313,000
287,000
272,000
215,000
233,000
286,000
225,000
349,000
358,000
605,000
531,000
572,000
606,000
290,000
273,000
323,000
316,000
309,000
274,000
362,000
343,000
325,000
298,000
328,000
330,000
318,000
304,000
367,000
368,000
360,000
350,000
367,000
379,000
436,000
427,000
472,000
497,000
434,000
421,000
365,000
313,000
322,000
316,000
340,000
360,000
373,000
633,000
655,000
699,000
702,000
834,000
828,000
787,000
762,000
956,000

956,000

762,000

787,000

828,000

834,000

702,000

699,000

655,000

633,000

373,000

360,000

340,000

316,000

322,000

313,000

365,000

421,000

434,000

497,000

472,000

427,000

436,000

379,000

367,000

350,000

360,000

368,000

367,000

304,000

318,000

330,000

328,000

298,000

325,000

343,000

362,000

274,000

309,000

316,000

323,000

273,000

290,000

606,000

572,000

531,000

605,000

358,000

349,000

225,000

286,000

233,000

215,000

272,000

287,000

313,000

378,000

410,000

330,000

255,000

353,000

Other Current Assets

0
106,000
0
172,000
133,000
119,000
599,000
4,000
18,000
18,000
208,000
172,000
113,000
157,000
95,000
91,000
201,000
83,000
76,000
85,000
113,000
122,000
122,000
109,000
109,000
108,000
139,000
118,000
109,000
152,000
160,000
188,000
180,000
153,000
157,000
153,000
150,000
153,000
136,000
152,000
140,000
149,000
156,000
147,000
129,000
134,000
65,000
53,000
42,000
64,000
58,000
64,000
59,000
149,000
629,000
230,000
549,000
180,000
205,000
192,000
183,000
-1,895,000

-1,895,000

183,000

192,000

205,000

180,000

549,000

230,000

629,000

149,000

59,000

64,000

58,000

64,000

42,000

53,000

65,000

134,000

129,000

147,000

156,000

149,000

140,000

152,000

136,000

153,000

150,000

153,000

157,000

153,000

180,000

188,000

160,000

152,000

109,000

118,000

139,000

108,000

109,000

122,000

113,000

85,000

76,000

83,000

201,000

91,000

95,000

157,000

113,000

172,000

208,000

18,000

4,000

599,000

119,000

133,000

172,000

106,000

> Long-term Assets

0
5,062,000
0
5,210,000
5,160,000
5,166,000
4,992,000
4,959,000
5,032,000
5,078,000
5,093,000
5,099,000
5,699,000
5,916,000
5,981,000
6,241,000
5,860,000
5,882,000
6,026,000
5,868,000
6,113,000
7,014,000
6,714,000
6,659,000
6,956,000
6,434,000
6,335,000
6,359,000
6,385,000
6,472,000
6,437,000
6,359,000
6,428,000
6,610,000
6,715,000
6,538,000
6,593,000
6,345,000
5,791,000
5,589,000
5,781,000
6,298,000
6,733,000
6,778,000
6,653,000
6,711,000
6,545,000
6,642,000
6,587,000
6,566,000
6,437,000
6,488,000
6,238,000
10,541,000
10,092,000
9,758,000
9,768,000
10,062,000
10,468,000
10,599,000
10,566,000
10,703,000

10,703,000

10,566,000

10,599,000

10,468,000

10,062,000

9,768,000

9,758,000

10,092,000

10,541,000

6,238,000

6,488,000

6,437,000

6,566,000

6,587,000

6,642,000

6,545,000

6,711,000

6,653,000

6,778,000

6,733,000

6,298,000

5,781,000

5,589,000

5,791,000

6,345,000

6,593,000

6,538,000

6,715,000

6,610,000

6,428,000

6,359,000

6,437,000

6,472,000

6,385,000

6,359,000

6,335,000

6,434,000

6,956,000

6,659,000

6,714,000

7,014,000

6,113,000

5,868,000

6,026,000

5,882,000

5,860,000

6,241,000

5,981,000

5,916,000

5,699,000

5,099,000

5,093,000

5,078,000

5,032,000

4,959,000

4,992,000

5,166,000

5,160,000

5,210,000

5,062,000

Property Plant Equipment

0
3,616,000
0
3,616,000
3,617,000
3,605,000
3,454,000
3,414,000
3,407,000
3,453,000
3,380,000
3,451,000
3,990,000
4,043,000
4,040,000
4,184,000
4,487,000
4,139,000
4,148,000
3,942,000
3,827,000
4,671,000
4,378,000
4,366,000
4,640,000
4,186,000
4,100,000
4,093,000
4,032,000
4,031,000
4,023,000
3,959,000
3,971,000
4,270,000
4,472,000
4,239,000
4,243,000
4,034,000
3,572,000
3,376,000
3,570,000
3,608,000
4,112,000
4,120,000
4,007,000
3,949,000
3,773,000
3,710,000
3,663,000
3,600,000
3,617,000
3,586,000
3,331,000
3,294,000
2,936,000
2,663,000
2,731,000
2,769,000
2,755,000
2,767,000
2,739,000
369,000

369,000

2,739,000

2,767,000

2,755,000

2,769,000

2,731,000

2,663,000

2,936,000

3,294,000

3,331,000

3,586,000

3,617,000

3,600,000

3,663,000

3,710,000

3,773,000

3,949,000

4,007,000

4,120,000

4,112,000

3,608,000

3,570,000

3,376,000

3,572,000

4,034,000

4,243,000

4,239,000

4,472,000

4,270,000

3,971,000

3,959,000

4,023,000

4,031,000

4,032,000

4,093,000

4,100,000

4,186,000

4,640,000

4,366,000

4,378,000

4,671,000

3,827,000

3,942,000

4,148,000

4,139,000

4,487,000

4,184,000

4,040,000

4,043,000

3,990,000

3,451,000

3,380,000

3,453,000

3,407,000

3,414,000

3,454,000

3,605,000

3,617,000

3,616,000

Goodwill

0
120,000
0
120,000
120,000
113,000
113,000
113,000
113,000
102,000
102,000
102,000
102,000
102,000
102,000
132,000
134,000
133,000
144,000
133,000
133,000
147,000
147,000
136,000
135,000
133,000
132,000
132,000
130,000
129,000
129,000
128,000
127,000
125,000
147,000
145,000
152,000
150,000
154,000
152,000
132,000
283,000
320,000
322,000
322,000
326,000
326,000
288,000
288,000
288,000
288,000
288,000
288,000
2,965,000
3,006,000
3,080,000
3,120,000
3,101,000
3,143,000
3,205,000
3,202,000
3,205,000

3,205,000

3,202,000

3,205,000

3,143,000

3,101,000

3,120,000

3,080,000

3,006,000

2,965,000

288,000

326,000

322,000

320,000

283,000

132,000

152,000

154,000

150,000

152,000

145,000

147,000

125,000

127,000

128,000

129,000

130,000

132,000

133,000

135,000

136,000

147,000

133,000

144,000

133,000

134,000

132,000

102,000

113,000

120,000

Long Term Investments

0
0
0
0
0
0
0
0
0
0
614,000
633,000
632,000
640,000
661,000
727,000
430,000
419,000
457,000
473,000
598,000
448,000
441,000
410,000
436,000
374,000
361,000
351,000
343,000
347,000
352,000
329,000
327,000
205,000
188,000
200,000
218,000
230,000
192,000
221,000
239,000
246,000
247,000
238,000
248,000
267,000
294,000
292,000
292,000
289,000
283,000
1,011,000
249,000
257,000
908,000
867,000
830,000
238,000
915,000
958,000
953,000
993,000

993,000

953,000

958,000

915,000

238,000

830,000

867,000

908,000

257,000

249,000

1,011,000

283,000

289,000

292,000

294,000

267,000

248,000

238,000

247,000

246,000

239,000

221,000

192,000

230,000

218,000

200,000

188,000

205,000

327,000

329,000

352,000

347,000

343,000

351,000

361,000

374,000

436,000

410,000

441,000

448,000

598,000

473,000

457,000

419,000

430,000

727,000

661,000

640,000

632,000

633,000

614,000

Intangible Assets

0
256,000
0
276,000
274,000
284,000
262,000
279,000
282,000
280,000
358,000
282,000
356,000
359,000
364,000
376,000
378,000
388,000
499,000
512,000
529,000
591,000
595,000
587,000
569,000
552,000
532,000
546,000
541,000
547,000
546,000
541,000
591,000
599,000
658,000
671,000
682,000
683,000
305,000
294,000
296,000
628,000
481,000
471,000
453,000
437,000
427,000
418,000
412,000
385,000
378,000
369,000
363,000
1,977,000
1,880,000
1,810,000
1,749,000
1,668,000
1,813,000
1,785,000
1,728,000
1,670,000

1,670,000

1,728,000

1,785,000

1,813,000

1,668,000

1,749,000

1,810,000

1,880,000

1,977,000

363,000

369,000

378,000

385,000

412,000

418,000

427,000

437,000

453,000

471,000

481,000

628,000

296,000

294,000

305,000

683,000

682,000

671,000

658,000

599,000

591,000

541,000

546,000

547,000

541,000

546,000

532,000

552,000

569,000

587,000

595,000

591,000

529,000

512,000

499,000

388,000

378,000

376,000

364,000

359,000

356,000

282,000

358,000

280,000

282,000

279,000

262,000

284,000

274,000

276,000

256,000

Other Assets

0
1,567,000
0
0
1,543,000
1,561,000
1,538,000
1,545,000
1,625,000
1,625,000
1,640,000
1,648,000
1,709,000
1,873,000
1,941,000
2,057,000
1,751,000
1,743,000
1,878,000
1,926,000
2,286,000
2,343,000
2,336,000
2,293,000
2,316,000
2,248,000
2,235,000
2,266,000
2,353,000
2,441,000
2,414,000
2,400,000
2,457,000
2,340,000
2,243,000
2,299,000
2,350,000
2,311,000
1,036,000
1,036,000
1,036,000
1,347,000
805,000
1,439,000
1,436,000
1,503,000
1,665,000
1,831,000
1,821,000
2,767,000
1,713,000
1,813,000
9,477,000
1,206,000
1,890,000
1,852,000
1,839,000
1,211,000
1,334,000
1,350,000
1,424,000
0

1,424,000

1,350,000

1,334,000

1,211,000

1,839,000

1,852,000

1,890,000

1,206,000

9,477,000

1,813,000

1,713,000

2,767,000

1,821,000

1,831,000

1,665,000

1,503,000

1,436,000

1,439,000

805,000

1,347,000

1,036,000

2,311,000

2,350,000

2,299,000

2,243,000

2,340,000

2,457,000

2,400,000

2,414,000

2,441,000

2,353,000

2,266,000

2,235,000

2,248,000

2,316,000

2,293,000

2,336,000

2,343,000

2,286,000

1,926,000

1,878,000

1,743,000

1,751,000

2,057,000

1,941,000

1,873,000

1,709,000

1,648,000

1,640,000

1,625,000

1,545,000

1,538,000

1,561,000

1,543,000

1,567,000

Deferred Long Term Asset Charges

0
0
0
0
0
0
0
0
0
0
63,000
48,000
55,000
197,000
240,000
244,000
216,000
183,000
137,000
170,000
142,000
198,000
181,000
173,000
193,000
196,000
186,000
198,000
233,000
301,000
305,000
298,000
318,000
313,000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

313,000

318,000

298,000

305,000

301,000

233,000

198,000

186,000

196,000

193,000

173,000

181,000

198,000

142,000

170,000

137,000

183,000

216,000

244,000

240,000

197,000

55,000

48,000

63,000

> Total Liabilities

0
2,527,000
0
1,839,000
2,126,000
2,115,000
2,105,000
2,109,000
2,105,000
2,112,000
2,109,000
2,163,000
2,600,000
2,679,000
2,698,000
2,798,000
2,831,000
2,809,000
2,908,000
2,993,000
3,116,000
3,400,000
3,401,000
3,234,000
3,378,000
3,512,000
3,483,000
3,514,000
3,538,000
3,601,000
3,899,000
3,698,000
3,730,000
3,841,000
4,034,000
4,049,000
4,194,000
4,131,000
3,793,000
3,615,000
3,789,000
3,966,000
4,407,000
4,435,000
4,368,000
4,450,000
4,590,000
5,087,000
5,872,000
5,915,000
5,881,000
6,053,000
5,888,000
9,037,000
9,165,000
9,038,000
8,956,000
8,610,000
8,922,000
8,904,000
8,728,000
9,266,000

9,266,000

8,728,000

8,904,000

8,922,000

8,610,000

8,956,000

9,038,000

9,165,000

9,037,000

5,888,000

6,053,000

5,881,000

5,915,000

5,872,000

5,087,000

4,590,000

4,450,000

4,368,000

4,435,000

4,407,000

3,966,000

3,789,000

3,615,000

3,793,000

4,131,000

4,194,000

4,049,000

4,034,000

3,841,000

3,730,000

3,698,000

3,899,000

3,601,000

3,538,000

3,514,000

3,483,000

3,512,000

3,378,000

3,234,000

3,401,000

3,400,000

3,116,000

2,993,000

2,908,000

2,809,000

2,831,000

2,798,000

2,698,000

2,679,000

2,600,000

2,163,000

2,109,000

2,112,000

2,105,000

2,109,000

2,105,000

2,115,000

2,126,000

1,839,000

2,527,000

> Total Current Liabilities

0
653,000
0
574,000
562,000
495,000
480,000
563,000
621,000
596,000
567,000
627,000
566,000
568,000
548,000
611,000
613,000
618,000
583,000
634,000
679,000
871,000
857,000
679,000
815,000
730,000
699,000
772,000
1,043,000
1,107,000
1,012,000
824,000
832,000
924,000
1,109,000
1,073,000
1,200,000
966,000
1,051,000
916,000
897,000
1,061,000
1,105,000
1,114,000
1,044,000
1,086,000
1,183,000
701,000
970,000
984,000
950,000
1,017,000
876,000
2,232,000
2,520,000
2,411,000
2,957,000
3,287,000
3,347,000
2,621,000
2,408,000
3,578,000

3,578,000

2,408,000

2,621,000

3,347,000

3,287,000

2,957,000

2,411,000

2,520,000

2,232,000

876,000

1,017,000

950,000

984,000

970,000

701,000

1,183,000

1,086,000

1,044,000

1,114,000

1,105,000

1,061,000

897,000

916,000

1,051,000

966,000

1,200,000

1,073,000

1,109,000

924,000

832,000

824,000

1,012,000

1,107,000

1,043,000

772,000

699,000

730,000

815,000

679,000

857,000

871,000

679,000

634,000

583,000

618,000

613,000

611,000

548,000

568,000

566,000

627,000

567,000

596,000

621,000

563,000

480,000

495,000

562,000

574,000

653,000

Short-term Debt

0
38,000
0
17,000
12,000
12,000
0
59,000
92,000
57,000
56,000
55,000
4,000
4,000
4,000
4,000
4,000
4,000
14,000
14,000
23,000
194,000
194,000
5,000
135,000
9,000
9,000
72,000
318,000
328,000
265,000
19,000
19,000
119,000
299,000
241,000
352,000
11,000
11,000
11,000
11,000
11,000
165,000
126,000
44,000
43,000
390,000
40,000
292,000
289,000
287,000
290,000
40,000
45,000
41,000
41,000
690,000
699,000
687,000
87,000
46,000
792,000

792,000

46,000

87,000

687,000

699,000

690,000

41,000

45,000

40,000

290,000

287,000

289,000

292,000

40,000

390,000

43,000

44,000

126,000

165,000

11,000

352,000

241,000

299,000

119,000

19,000

265,000

328,000

318,000

72,000

9,000

135,000

5,000

194,000

23,000

14,000

4,000

55,000

56,000

57,000

92,000

59,000

12,000

17,000

38,000

Short Long Term Debt

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
9,000
0
0
0
328,000
0
19,000
19,000
119,000
299,000
1,687,000
352,000
11,000
11,000
11,000
11,000
11,000
131,000
91,000
11,000
11,000
360,000
9,000
260,000
260,000
260,000
260,000
10,000
10,000
6,000
6,000
654,000
660,000
648,000
46,000
6,000
751,000

751,000

6,000

46,000

648,000

660,000

654,000

6,000

10,000

260,000

9,000

360,000

11,000

91,000

131,000

11,000

352,000

1,687,000

299,000

119,000

19,000

328,000

9,000

Accounts payable

0
318,000
0
291,000
265,000
196,000
196,000
204,000
225,000
145,000
113,000
146,000
135,000
144,000
130,000
116,000
113,000
138,000
119,000
110,000
117,000
133,000
131,000
124,000
107,000
130,000
140,000
133,000
131,000
141,000
135,000
144,000
127,000
162,000
155,000
159,000
151,000
175,000
131,000
130,000
127,000
151,000
174,000
149,000
144,000
150,000
133,000
93,000
101,000
102,000
102,000
110,000
109,000
523,000
546,000
554,000
402,000
500,000
544,000
486,000
369,000
493,000

493,000

369,000

486,000

544,000

500,000

402,000

554,000

546,000

523,000

109,000

110,000

102,000

101,000

93,000

133,000

150,000

144,000

149,000

174,000

151,000

127,000

130,000

131,000

175,000

151,000

159,000

155,000

162,000

127,000

144,000

135,000

141,000

131,000

133,000

140,000

130,000

107,000

124,000

131,000

133,000

117,000

110,000

119,000

138,000

113,000

116,000

130,000

144,000

135,000

146,000

113,000

145,000

225,000

204,000

196,000

265,000

291,000

318,000

Other Current Liabilities

0
335,000
0
283,000
297,000
299,000
284,000
300,000
304,000
394,000
398,000
426,000
427,000
420,000
414,000
491,000
3,000
1,000
450,000
4,000
539,000
544,000
532,000
31,000
38,000
3,000
550,000
567,000
594,000
638,000
612,000
661,000
686,000
643,000
655,000
673,000
697,000
780,000
575,000
440,000
427,000
511,000
371,000
439,000
452,000
448,000
369,000
320,000
331,000
311,000
280,000
306,000
421,000
486,000
648,000
536,000
646,000
650,000
621,000
606,000
643,000
695,000

695,000

643,000

606,000

621,000

650,000

646,000

536,000

648,000

486,000

421,000

306,000

280,000

311,000

331,000

320,000

369,000

448,000

452,000

439,000

371,000

511,000

427,000

440,000

575,000

780,000

697,000

673,000

655,000

643,000

686,000

661,000

612,000

638,000

594,000

567,000

550,000

3,000

38,000

31,000

532,000

544,000

539,000

4,000

450,000

1,000

3,000

491,000

414,000

420,000

427,000

426,000

398,000

394,000

304,000

300,000

284,000

299,000

297,000

283,000

335,000

> Long-term Liabilities

0
1,874,000
0
1,265,000
1,564,000
1,620,000
1,625,000
1,546,000
1,484,000
1,516,000
1,542,000
1,536,000
2,034,000
2,111,000
2,150,000
2,187,000
2,218,000
2,191,000
2,325,000
2,359,000
2,437,000
2,529,000
2,544,000
2,555,000
2,563,000
2,782,000
2,784,000
2,742,000
2,495,000
2,494,000
2,887,000
2,874,000
2,898,000
2,917,000
2,925,000
2,976,000
2,994,000
3,165,000
2,742,000
2,699,000
2,892,000
2,905,000
3,302,000
3,321,000
3,324,000
3,364,000
3,407,000
4,386,000
4,902,000
4,931,000
4,931,000
5,036,000
5,012,000
6,805,000
6,645,000
6,627,000
5,999,000
5,323,000
5,575,000
6,283,000
6,320,000
5,688,000

5,688,000

6,320,000

6,283,000

5,575,000

5,323,000

5,999,000

6,627,000

6,645,000

6,805,000

5,012,000

5,036,000

4,931,000

4,902,000

4,386,000

3,407,000

3,364,000

3,324,000

3,321,000

3,302,000

2,905,000

2,892,000

2,699,000

2,742,000

3,165,000

2,994,000

2,976,000

2,925,000

2,917,000

2,898,000

2,874,000

2,887,000

2,494,000

2,495,000

2,742,000

2,784,000

2,782,000

2,563,000

2,555,000

2,544,000

2,529,000

2,437,000

2,359,000

2,325,000

2,191,000

2,218,000

2,187,000

2,150,000

2,111,000

2,034,000

1,536,000

1,542,000

1,516,000

1,484,000

1,546,000

1,625,000

1,620,000

1,564,000

1,265,000

1,874,000

Long term Debt Total

0
0
0
0
0
0
0
0
0
0
712,000
714,000
1,221,000
1,221,000
1,220,000
1,220,000
1,219,000
1,229,000
1,228,000
1,265,000
1,283,000
1,289,000
1,293,000
1,298,000
1,292,000
1,381,000
1,370,000
1,319,000
1,059,000
1,047,000
1,441,000
1,455,000
1,447,000
1,445,000
1,445,000
1,446,000
1,444,000
1,440,000
1,439,000
1,429,000
1,622,000
1,623,000
1,621,000
1,621,000
1,612,000
1,612,000
1,602,000
2,491,000
2,981,000
2,984,000
2,982,000
2,986,000
2,978,000
3,968,000
3,815,000
3,798,000
3,150,000
2,453,000
2,454,000
3,053,000
3,049,000
0

3,049,000

3,053,000

2,454,000

2,453,000

3,150,000

3,798,000

3,815,000

3,968,000

2,978,000

2,986,000

2,982,000

2,984,000

2,981,000

2,491,000

1,602,000

1,612,000

1,621,000

1,623,000

1,622,000

1,429,000

1,439,000

1,440,000

1,444,000

1,446,000

1,445,000

1,447,000

1,455,000

1,441,000

1,047,000

1,059,000

1,319,000

1,370,000

1,381,000

1,292,000

1,298,000

1,293,000

1,289,000

1,283,000

1,265,000

1,228,000

1,229,000

1,219,000

1,220,000

1,221,000

714,000

712,000

Deferred Long Term Asset Charges

0
0
0
0
0
0
0
0
0
0
63,000
48,000
55,000
197,000
240,000
244,000
216,000
183,000
137,000
170,000
142,000
198,000
181,000
173,000
193,000
196,000
186,000
198,000
233,000
301,000
305,000
298,000
318,000
313,000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

313,000

318,000

298,000

305,000

301,000

233,000

198,000

186,000

196,000

193,000

173,000

181,000

198,000

142,000

170,000

137,000

183,000

216,000

244,000

240,000

197,000

55,000

48,000

63,000

Other Liabilities

0
634,000
0
0
686,000
750,000
787,000
752,000
768,000
782,000
830,000
822,000
813,000
885,000
930,000
967,000
999,000
882,000
1,097,000
1,094,000
1,283,000
1,166,000
1,251,000
1,257,000
1,271,000
1,335,000
1,414,000
1,423,000
1,436,000
1,388,000
1,446,000
1,419,000
1,451,000
1,415,000
1,480,000
1,530,000
1,550,000
1,663,000
1,303,000
1,270,000
1,270,000
1,282,000
1,276,000
1,294,000
1,317,000
1,359,000
1,419,000
1,513,000
1,531,000
1,570,000
1,586,000
1,683,000
1,674,000
2,488,000
2,511,000
2,535,000
2,556,000
2,572,000
0
2,941,000
2,995,000
0

2,995,000

2,941,000

2,572,000

2,556,000

2,535,000

2,511,000

2,488,000

1,674,000

1,683,000

1,586,000

1,570,000

1,531,000

1,513,000

1,419,000

1,359,000

1,317,000

1,294,000

1,276,000

1,282,000

1,270,000

1,303,000

1,663,000

1,550,000

1,530,000

1,480,000

1,415,000

1,451,000

1,419,000

1,446,000

1,388,000

1,436,000

1,423,000

1,414,000

1,335,000

1,271,000

1,257,000

1,251,000

1,166,000

1,283,000

1,094,000

1,097,000

882,000

999,000

967,000

930,000

885,000

813,000

822,000

830,000

782,000

768,000

752,000

787,000

750,000

686,000

634,000

Deferred Long Term Liability

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
14,000
0
0
85,000
106,000
0
150,000
172,000
0

172,000

150,000

106,000

85,000

14,000

> Total Stockholder Equity

0
3,564,000
0
4,874,000
4,902,000
5,016,000
5,026,000
5,039,000
5,105,000
5,118,000
5,156,000
4,822,000
4,776,000
4,818,000
4,854,000
4,873,000
4,895,000
4,821,000
4,804,000
4,704,000
4,743,000
4,769,000
4,767,000
4,771,000
4,683,000
4,627,000
4,422,000
4,324,000
4,130,000
3,991,000
3,996,000
4,004,000
3,913,000
3,903,000
3,714,000
3,837,000
3,651,000
3,525,000
4,188,000
3,695,000
3,929,000
3,670,000
3,622,000
3,642,000
3,756,000
3,962,000
3,705,000
3,490,000
3,350,000
3,211,000
2,885,000
2,906,000
3,586,000
3,563,000
3,521,000
3,609,000
3,443,000
3,699,000
3,693,000
3,682,000
3,586,000
3,564,000

3,564,000

3,586,000

3,682,000

3,693,000

3,699,000

3,443,000

3,609,000

3,521,000

3,563,000

3,586,000

2,906,000

2,885,000

3,211,000

3,350,000

3,490,000

3,705,000

3,962,000

3,756,000

3,642,000

3,622,000

3,670,000

3,929,000

3,695,000

4,188,000

3,525,000

3,651,000

3,837,000

3,714,000

3,903,000

3,913,000

4,004,000

3,996,000

3,991,000

4,130,000

4,324,000

4,422,000

4,627,000

4,683,000

4,771,000

4,767,000

4,769,000

4,743,000

4,704,000

4,804,000

4,821,000

4,895,000

4,873,000

4,854,000

4,818,000

4,776,000

4,822,000

5,156,000

5,118,000

5,105,000

5,039,000

5,026,000

5,016,000

4,902,000

4,874,000

3,564,000

Common Stock

0
1,000
0
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000

1,000

2,000

1,000

Retained Earnings Total Equity

0
0
0
0
0
0
0
0
0
0
1,414,000
1,451,000
1,465,000
1,517,000
1,527,000
1,566,000
1,589,000
1,605,000
1,613,000
1,725,000
1,789,000
1,821,000
1,877,000
1,951,000
1,983,000
2,165,000
2,187,000
2,227,000
2,252,000
2,289,000
2,323,000
2,390,000
2,452,000
2,493,000
2,563,000
2,650,000
2,666,000
2,742,000
3,511,000
3,571,000
3,791,000
3,819,000
3,831,000
3,853,000
4,003,000
4,170,000
3,989,000
3,753,000
3,592,000
3,389,000
3,085,000
3,076,000
3,196,000
3,167,000
3,094,000
3,300,000
3,328,000
3,622,000
3,680,000
3,732,000
0
0

3,732,000

3,680,000

3,622,000

3,328,000

3,300,000

3,094,000

3,167,000

3,196,000

3,076,000

3,085,000

3,389,000

3,592,000

3,753,000

3,989,000

4,170,000

4,003,000

3,853,000

3,831,000

3,819,000

3,791,000

3,571,000

3,511,000

2,742,000

2,666,000

2,650,000

2,563,000

2,493,000

2,452,000

2,390,000

2,323,000

2,289,000

2,252,000

2,227,000

2,187,000

2,165,000

1,983,000

1,951,000

1,877,000

1,821,000

1,789,000

1,725,000

1,613,000

1,605,000

1,589,000

1,566,000

1,527,000

1,517,000

1,465,000

1,451,000

1,414,000

Accumulated Other Comprehensive Income

0
-60,000
0
-64,000
-46,000
-53,000
-49,000
-69,000
-39,000
-38,000
-15,000
2,000
-64,000
-80,000
-60,000
-84,000
-55,000
-48,000
-50,000
-74,000
-77,000
-68,000
-70,000
-61,000
-109,000
-160,000
-213,000
-201,000
-226,000
-230,000
-210,000
-207,000
-227,000
-277,000
-202,000
-172,000
-172,000
-185,000
-230,000
-276,000
-202,000
-200,000
-210,000
-212,000
-248,000
-209,000
-285,000
-267,000
-250,000
-192,000
-237,000
-218,000
-241,000
-245,000
-231,000
-265,000
-290,000
-242,000
-223,000
-206,000
-224,000
-152,000

-152,000

-224,000

-206,000

-223,000

-242,000

-290,000

-265,000

-231,000

-245,000

-241,000

-218,000

-237,000

-192,000

-250,000

-267,000

-285,000

-209,000

-248,000

-212,000

-210,000

-200,000

-202,000

-276,000

-230,000

-185,000

-172,000

-202,000

-277,000

-227,000

-207,000

-210,000

-230,000

-226,000

-201,000

-213,000

-160,000

-109,000

-61,000

-70,000

-68,000

-77,000

-74,000

-50,000

-48,000

-55,000

-84,000

-60,000

-80,000

-64,000

2,000

-15,000

-38,000

-39,000

-69,000

-49,000

-53,000

-46,000

-64,000

-60,000

Capital Surplus

0
0
0
0
0
0
0
0
0
0
3,756,000
3,368,000
3,374,000
3,380,000
3,386,000
3,390,000
3,360,000
3,263,000
3,240,000
3,052,000
3,030,000
3,015,000
2,959,000
2,880,000
2,808,000
2,621,000
2,455,000
2,297,000
2,103,000
1,931,000
1,882,000
1,820,000
1,687,000
1,686,000
1,352,000
1,358,000
1,156,000
967,000
906,000
399,000
339,000
50,000
0
0
0
0
0
3,000
7,000
13,000
36,000
47,000
630,000
640,000
657,000
573,000
404,000
318,000
235,000
155,000
25,000
0

25,000

155,000

235,000

318,000

404,000

573,000

657,000

640,000

630,000

47,000

36,000

13,000

7,000

3,000

50,000

339,000

399,000

906,000

967,000

1,156,000

1,358,000

1,352,000

1,686,000

1,687,000

1,820,000

1,882,000

1,931,000

2,103,000

2,297,000

2,455,000

2,621,000

2,808,000

2,880,000

2,959,000

3,015,000

3,030,000

3,052,000

3,240,000

3,263,000

3,360,000

3,390,000

3,386,000

3,380,000

3,374,000

3,368,000

3,756,000

Treasury Stock

-8,000

-1,000

-2,000

Other Stockholders Equity

0
3,978,000
0
5,323,000
5,417,000
5,598,000
3,730,000
3,738,000
3,744,000
3,750,000
3,755,000
3,367,000
3,373,000
3,379,000
3,385,000
3,389,000
3,359,000
3,281,000
3,239,000
3,051,000
3,029,000
3,014,000
2,958,000
2,879,000
2,807,000
2,620,000
2,447,000
2,297,000
2,103,000
1,931,000
1,882,000
1,820,000
1,687,000
1,686,000
1,352,000
1,358,000
1,156,000
967,000
906,000
399,000
339,000
50,000
-210,000
-212,000
-248,000
3,677,000
-285,000
3,000
7,000
13,000
36,000
47,000
630,000
640,000
657,000
573,000
404,000
318,000
235,000
155,000
25,000
-23,000

-23,000

25,000

155,000

235,000

318,000

404,000

573,000

657,000

640,000

630,000

47,000

36,000

13,000

7,000

3,000

-285,000

3,677,000

-248,000

-212,000

-210,000

50,000

339,000

399,000

906,000

967,000

1,156,000

1,358,000

1,352,000

1,686,000

1,687,000

1,820,000

1,882,000

1,931,000

2,103,000

2,297,000

2,447,000

2,620,000

2,807,000

2,879,000

2,958,000

3,014,000

3,029,000

3,051,000

3,239,000

3,281,000

3,359,000

3,389,000

3,385,000

3,379,000

3,373,000

3,367,000

3,755,000

3,750,000

3,744,000

3,738,000

3,730,000

5,598,000

5,417,000

5,323,000

3,978,000

Balance Sheet

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Accounts Payable	493,000	500,000	523,000	102,000	150,000	151,000	175,000	162,000	141,000	130,000	133,000	138,000	144,000	145,000	196,000	318,000	303,000	0
Accumulated Amortization	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	-
Accumulated Other Comprehensive Income	-152,000	-242,000	-245,000	-192,000	-209,000	-200,000	-185,000	-277,000	-230,000	-160,000	-68,000	-48,000	-80,000	-38,000	-53,000	-60,000	-4,000	0
Additional Paid In Capital	0	0	0	0	0	0	967,000	1,686,000	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	314,000	337,000	384,000	406,000	425,000	0	0	0	0	0	0	0	0	0	0	0	0	-
Capital Stock	1,000	1,000	1,000	1,000	1,000	1,000	0	0	0	0	0	0	0	0	0	0	0	-
Capital Surpluse	0	318,000	640,000	13,000	0	50,000	967,000	1,686,000	1,931,000	2,621,000	0	3,263,000	3,380,000	0	0	0	0	-
Cash	915,000	991,000	960,000	1,207,000	893,000	570,000	503,000	482,000	457,000	685,000	454,000	413,000	534,000	1,110,000	1,327,000	428,000	409,000	0
Cash And Equivalents	0	991,000	960,000	1,207,000	893,000	570,000	503,000	482,000	0	0	0	0	0	0	0	0	0	-
Cash And Short Term Investments	930,000	1,149,000	1,187,000	1,882,000	961,000	686,000	552,000	538,000	503,000	815,000	484,000	927,000	1,122,000	1,634,000	1,327,000	428,000	409,000	-
Common Stock	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	2,000	2,000	2,000	2,000	2,000	2,000	1,000	1,000	0
Common Stock Shares Outstanding	107,727	111,265	103,971	101,325	106,292	115,125	126,347	133,939	143,999	154,350	159,189	165,377	169,240	174,354	153,571	128,061	134,634	275,000
Common Stock Total Equity	0	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	2,000	2,000	2,000	2,000	2,000	2,000	1,000	1,000	0
Current Deferred Revenue	1,598,000	1,438,000	1,178,000	282,000	445,000	388,000	0	0	0	588,000	0	475,000	0	0	-12,000	-38,000	360,000	-
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	313,000	301,000	196,000	0	183,000	197,000	0	0	0	0	-
Deferred Long Term Liab	0	106,000	14,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Good Will	3,205,000	3,101,000	2,965,000	288,000	326,000	283,000	150,000	125,000	129,000	133,000	147,000	133,000	102,000	102,000	113,000	120,000	203,000	0
Intangible Assets	1,670,000	1,668,000	1,977,000	385,000	437,000	628,000	683,000	599,000	547,000	552,000	591,000	388,000	359,000	280,000	284,000	256,000	359,000	0
Inventory	9,000	9,000	10,000	9,000	12,000	14,000	14,000	28,000	12,000	17,000	77,000	80,000	87,000	100,000	133,000	170,000	150,000	0
Liabilities And Stockholders Equity	12,833,000	12,312,000	12,603,000	9,129,000	8,417,000	7,643,000	7,672,000	7,749,000	7,596,000	8,143,000	8,177,000	7,640,000	7,507,000	7,243,000	7,155,000	6,119,000	6,248,000	-
Long Term Debt	2,305,000	2,453,000	3,968,000	2,984,000	1,612,000	1,623,000	1,440,000	1,445,000	1,047,000	1,381,000	1,289,000	1,229,000	1,221,000	714,000	840,000	1,209,000	0	0
Long Term Debt Total	0	2,453,000	3,968,000	2,984,000	1,612,000	1,623,000	1,440,000	1,445,000	1,047,000	1,381,000	0	1,229,000	1,221,000	0	0	0	0	-
Long Term Investments	993,000	238,000	257,000	289,000	267,000	246,000	230,000	205,000	347,000	374,000	0	419,000	640,000	0	0	0	0	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Net Debt	2,455,000	2,459,000	3,402,000	2,443,000	1,155,000	1,064,000	948,000	1,082,000	918,000	705,000	1,029,000	820,000	691,000	463,000	305,000	275,000	411,000	-
Net Invested Capital	6,620,000	6,812,000	7,541,000	6,455,000	5,585,000	5,304,000	4,976,000	0	0	0	0	0	0	0	0	0	0	-
Net Receivables	956,000	834,000	633,000	316,000	421,000	427,000	350,000	304,000	298,000	274,000	273,000	531,000	225,000	272,000	410,000	353,000	391,000	0
Net Tangible Assets	0	-1,070,000	-1,379,000	2,538,000	3,199,000	2,759,000	2,702,000	3,179,000	3,315,000	3,942,000	0	4,300,000	4,357,000	0	0	0	0	0
Net Working Capital	-1,448,000	-1,037,000	-170,000	1,579,000	620,000	284,000	361,000	215,000	17,000	979,000	292,000	1,140,000	1,023,000	1,569,000	1,494,000	404,000	368,000	-
Non Current Assets Total	10,703,000	10,062,000	10,541,000	6,566,000	6,711,000	6,298,000	6,345,000	6,610,000	6,472,000	6,434,000	7,014,000	5,882,000	5,916,000	5,078,000	5,166,000	5,062,000	5,183,000	-
Non Current Liabilities Other	316,000	2,870,000	2,837,000	1,947,000	1,752,000	1,282,000	1,735,000	1,472,000	1,447,000	1,401,000	0	962,000	890,000	0	0	0	0	-
Non Current Liabilities Total	5,688,000	5,323,000	6,805,000	4,931,000	3,364,000	2,905,000	3,165,000	2,917,000	2,494,000	2,782,000	2,529,000	2,191,000	2,111,000	1,516,000	1,620,000	1,874,000	2,082,000	-
Non Currrent Assets Other	4,144,000	1,434,000	1,337,000	1,106,000	1,012,000	864,000	1,025,000	1,117,000	1,137,000	1,033,000	1,078,000	746,000	935,000	936,000	867,000	740,000	651,000	-
Noncontrolling Interest In Consolidated Entity	0	3,000	3,000	3,000	5,000	7,000	6,000	5,000	4,000	4,000	0	10,000	10,000	0	0	0	0	0
Other Assets	0	1,211,000	1,206,000	2,767,000	1,503,000	1,347,000	1,304,000	1,113,000	1,413,000	564,000	561,000	261,000	285,000	154,000	120,000	162,000	0	0
Other Current Assets	-1,895,000	180,000	149,000	64,000	134,000	149,000	153,000	153,000	152,000	108,000	122,000	83,000	157,000	18,000	119,000	106,000	67,000	0
Other Current Liab	695,000	650,000	486,000	311,000	448,000	511,000	780,000	643,000	638,000	3,000	544,000	1,000	420,000	394,000	299,000	335,000	8,000	0
Other Liab	0	2,572,000	2,488,000	1,570,000	1,359,000	1,282,000	1,287,000	1,472,000	1,447,000	1,335,000	1,166,000	882,000	885,000	782,000	750,000	634,000	0	0
Other Stockholder Equity	-23,000	318,000	640,000	13,000	3,677,000	50,000	967,000	1,686,000	1,931,000	2,620,000	3,014,000	3,281,000	3,379,000	3,750,000	5,598,000	3,978,000	3,936,000	0
Preferred Stock Redeemable	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
Property Plant And Equipment Gross	4,958,000	4,950,000	5,612,000	3,600,000	3,949,000	3,608,000	4,034,000	4,270,000	4,031,000	4,186,000	4,671,000	4,139,000	4,043,000	3,453,000	3,605,000	3,616,000	3,495,000	-
Property Plant And Equipment Net	369,000	2,769,000	3,294,000	3,600,000	3,949,000	3,608,000	4,034,000	4,270,000	4,031,000	4,186,000	4,671,000	4,139,000	4,043,000	3,453,000	3,605,000	3,616,000	3,495,000	-
Property Plant Equipment	0	2,384,000	2,848,000	3,126,000	3,456,000	3,608,000	4,034,000	4,270,000	4,031,000	4,186,000	4,671,000	4,139,000	4,043,000	3,453,000	3,605,000	3,495,000	0	0
Retained Earnings	3,738,000	3,622,000	3,167,000	3,389,000	4,170,000	3,819,000	2,742,000	2,493,000	2,289,000	2,165,000	1,821,000	1,605,000	1,517,000	1,404,000	1,338,000	1,381,000	1,213,000	0
Retained Earnings Total Equity	0	3,622,000	3,167,000	3,389,000	4,170,000	3,819,000	2,742,000	2,493,000	2,289,000	2,165,000	0	1,605,000	1,517,000	0	0	0	0	0
Short Long Term Debt	751,000	660,000	10,000	260,000	11,000	11,000	11,000	119,000	328,000	9,000	0	0	0	0	0	0	0	0
Short Long Term Debt Total	3,370,000	3,450,000	4,362,000	3,650,000	2,048,000	1,634,000	1,451,000	1,564,000	1,375,000	1,390,000	1,483,000	1,233,000	1,225,000	1,573,000	1,632,000	703,000	820,000	-
Short Term Debt	792,000	699,000	45,000	289,000	43,000	11,000	11,000	119,000	328,000	9,000	194,000	4,000	4,000	57,000	12,000	38,000	26,000	0
Short Term Investments	15,000	158,000	227,000	675,000	68,000	116,000	49,000	56,000	46,000	130,000	30,000	514,000	588,000	524,000	62,000	65,000	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
Total Assets	12,833,000	12,312,000	12,603,000	9,129,000	8,417,000	7,643,000	7,672,000	7,749,000	7,596,000	8,143,000	8,177,000	7,640,000	7,507,000	7,243,000	7,155,000	6,119,000	6,248,000	0
Total Current Assets	2,130,000	2,250,000	2,062,000	2,563,000	1,706,000	1,345,000	1,327,000	1,139,000	1,124,000	1,709,000	1,163,000	1,758,000	1,591,000	2,165,000	1,989,000	1,057,000	1,065,000	0
Total Current Liabilities	3,578,000	3,287,000	2,232,000	984,000	1,086,000	1,061,000	966,000	924,000	1,107,000	730,000	871,000	618,000	568,000	596,000	495,000	653,000	697,000	0
Total Liab	9,266,000	8,610,000	9,037,000	5,915,000	4,450,000	3,966,000	4,131,000	3,841,000	3,601,000	3,512,000	3,400,000	2,809,000	2,679,000	2,112,000	2,115,000	2,527,000	2,779,000	0
Total Permanent Equity	0	0	0	0	0	0	3,531,000	3,908,000	0	0	0	0	0	0	0	0	0	0
Total Stockholder Equity	3,564,000	3,699,000	3,563,000	3,211,000	3,962,000	3,670,000	3,525,000	3,903,000	3,991,000	4,627,000	4,769,000	4,821,000	4,818,000	5,118,000	5,016,000	3,564,000	3,434,000	0
Treasury Stock	0	0	0	0	0	0	0	0	0	-1,000	-1,000	-1,000	-1,000	-1,000	-2,000	0	0	0
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30
Accounts Payable	493,000	369,000	486,000	544,000	500,000	402,000	554,000	546,000	523,000	109,000	110,000	102,000	102,000	101,000	93,000	133,000	150,000	144,000	149,000	174,000	151,000	127,000	130,000	131,000	175,000	151,000	159,000	155,000	162,000	127,000	144,000	135,000	141,000	131,000	133,000	140,000	130,000	107,000	124,000	131,000	133,000	117,000	110,000	119,000	138,000	113,000	116,000	130,000	144,000	135,000	146,000	113,000	145,000	225,000	204,000	196,000	196,000	265,000	291,000	0	318,000	0
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Other Comprehensive Income	-152,000	-224,000	-206,000	-223,000	-242,000	-290,000	-265,000	-231,000	-245,000	-241,000	-218,000	-237,000	-192,000	-250,000	-267,000	-285,000	-209,000	-248,000	-212,000	-210,000	-200,000	-202,000	-276,000	-230,000	-185,000	-172,000	-172,000	-202,000	-277,000	-227,000	-207,000	-210,000	-230,000	-226,000	-201,000	-213,000	-160,000	-109,000	-61,000	-70,000	-68,000	-77,000	-74,000	-50,000	-48,000	-55,000	-84,000	-60,000	-80,000	-64,000	2,000	-15,000	-38,000	-39,000	-69,000	-49,000	-53,000	-46,000	-64,000	0	-60,000	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	967,000	0	0	0	1,686,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	314,000	316,000	330,000	333,000	337,000	329,000	329,000	357,000	384,000	390,000	397,000	390,000	406,000	422,000	413,000	416,000	425,000	428,000	441,000	439,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Stock	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	0	25,000	155,000	235,000	318,000	404,000	573,000	657,000	640,000	630,000	47,000	36,000	13,000	7,000	3,000	0	0	0	0	0	50,000	339,000	399,000	906,000	967,000	1,156,000	1,358,000	1,352,000	1,686,000	1,687,000	1,820,000	1,882,000	1,931,000	2,103,000	2,297,000	2,455,000	2,621,000	2,808,000	2,880,000	2,959,000	3,015,000	3,030,000	3,052,000	3,240,000	3,263,000	3,360,000	3,390,000	3,386,000	3,380,000	3,374,000	3,368,000	3,756,000	0	0	0	0	0	0	0	0	0	0
Cash	915,000	701,000	882,000	948,000	991,000	1,223,000	1,428,000	1,023,000	960,000	2,418,000	1,144,000	1,078,000	1,207,000	1,778,000	1,438,000	1,194,000	893,000	660,000	515,000	547,000	570,000	1,014,000	628,000	1,160,000	503,000	383,000	400,000	374,000	482,000	544,000	642,000	771,000	457,000	569,000	644,000	563,000	685,000	263,000	553,000	765,000	454,000	774,000	718,000	330,000	413,000	446,000	404,000	542,000	534,000	690,000	876,000	1,136,000	1,110,000	1,006,000	1,179,000	1,308,000	1,327,000	1,297,000	968,000	0	428,000	0
Cash And Equivalents	0	701,000	882,000	948,000	991,000	1,223,000	1,428,000	1,023,000	960,000	2,418,000	1,144,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash And Short Term Investments	930,000	727,000	906,000	1,051,000	1,149,000	1,374,000	1,955,000	1,305,000	1,187,000	2,775,000	1,737,000	1,628,000	1,882,000	2,088,000	1,503,000	1,262,000	961,000	723,000	577,000	601,000	686,000	1,231,000	782,000	1,214,000	552,000	439,000	451,000	426,000	538,000	590,000	691,000	826,000	503,000	634,000	724,000	643,000	815,000	293,000	583,000	795,000	484,000	812,000	805,000	787,000	927,000	988,000	906,000	1,051,000	1,122,000	1,196,000	1,397,000	1,663,000	1,634,000	1,610,000	1,623,000	1,308,000	1,327,000	1,297,000	968,000	0	428,000	0
Common Stock	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	0	1,000	0
Common Stock Shares Outstanding	106,100	106,860	107,980	108,930	109,400	111,024	111,927	110,172	110,100	103,988	101,899	101,526	101,300	101,277	101,273	101,402	104,400	105,919	106,953	107,519	110,200	113,224	116,451	120,778	122,100	125,408	126,805	130,998	129,747	133,064	134,896	135,925	139,000	143,007	145,504	148,639	151,400	153,869	155,221	156,491	157,000	156,897	160,213	162,538	161,932	165,754	165,971	166,016	165,700	165,644	170,139	174,503	174,228	174,230	174,258	174,004	168,184	168,194	145,602	128,180	128,087	128,087
Common Stock Total Equity	0	0	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	0	1,000	0
Current Deferred Revenue	1,598,000	1,350,000	1,442,000	1,495,000	1,438,000	1,219,000	1,280,000	1,285,000	1,178,000	306,000	311,000	281,000	282,000	246,000	248,000	291,000	445,000	404,000	400,000	395,000	388,000	332,000	335,000	334,000	0	0	0	0	0	0	0	0	0	0	0	0	588,000	535,000	519,000	0	0	0	506,000	0	475,000	493,000	0	0	0	0	0	0	0	0	0	0	-12,000	-12,000	-17,000	0	-38,000	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	313,000	318,000	298,000	305,000	301,000	233,000	198,000	186,000	196,000	193,000	173,000	181,000	198,000	142,000	170,000	137,000	183,000	216,000	244,000	240,000	197,000	55,000	48,000	63,000	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Liab	0	172,000	150,000	0	106,000	85,000	0	0	14,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Good Will	3,205,000	3,202,000	3,205,000	3,143,000	3,101,000	3,120,000	3,080,000	3,006,000	2,965,000	288,000	288,000	288,000	288,000	288,000	288,000	326,000	326,000	322,000	322,000	320,000	283,000	132,000	152,000	154,000	150,000	152,000	145,000	147,000	125,000	127,000	128,000	129,000	129,000	130,000	132,000	132,000	133,000	135,000	136,000	147,000	147,000	133,000	133,000	144,000	133,000	134,000	132,000	102,000	102,000	102,000	102,000	102,000	102,000	113,000	113,000	113,000	113,000	120,000	120,000	0	120,000	0
Intangible Assets	1,670,000	1,728,000	1,785,000	1,813,000	1,668,000	1,749,000	1,810,000	1,880,000	1,977,000	363,000	369,000	378,000	385,000	412,000	418,000	427,000	437,000	453,000	471,000	481,000	628,000	296,000	294,000	305,000	683,000	682,000	671,000	658,000	599,000	591,000	541,000	546,000	547,000	541,000	546,000	532,000	552,000	569,000	587,000	595,000	591,000	529,000	512,000	499,000	388,000	378,000	376,000	364,000	359,000	356,000	282,000	358,000	280,000	282,000	279,000	262,000	284,000	274,000	276,000	0	256,000	0
Inventory	9,000	10,000	10,000	10,000	9,000	9,000	8,000	8,000	10,000	9,000	9,000	9,000	9,000	14,000	11,000	12,000	12,000	12,000	13,000	14,000	14,000	13,000	13,000	13,000	14,000	15,000	15,000	16,000	28,000	16,000	16,000	16,000	12,000	13,000	15,000	16,000	17,000	18,000	17,000	75,000	77,000	71,000	74,000	77,000	80,000	82,000	85,000	86,000	87,000	93,000	96,000	99,000	100,000	128,000	129,000	130,000	133,000	134,000	134,000	0	170,000	0
Liabilities And Stockholders Equity	12,833,000	12,317,000	12,589,000	12,618,000	12,312,000	12,402,000	12,650,000	12,689,000	12,603,000	9,477,000	8,962,000	8,769,000	9,129,000	9,225,000	8,580,000	8,298,000	8,417,000	8,129,000	8,082,000	8,035,000	7,643,000	7,724,000	7,316,000	7,987,000	7,672,000	7,861,000	7,901,000	7,763,000	7,749,000	7,647,000	7,706,000	7,899,000	7,596,000	7,672,000	7,842,000	7,909,000	8,143,000	8,069,000	8,013,000	8,176,000	8,177,000	7,869,000	7,707,000	7,722,000	7,640,000	7,736,000	7,681,000	7,562,000	7,507,000	7,387,000	6,997,000	7,278,000	7,243,000	7,232,000	7,170,000	7,154,000	7,155,000	7,054,000	6,739,000	0	6,119,000	0
Long Term Debt	2,305,000	3,049,000	3,053,000	2,454,000	2,453,000	3,150,000	3,798,000	3,815,000	3,968,000	2,978,000	2,986,000	2,982,000	2,984,000	2,981,000	2,491,000	1,602,000	1,612,000	1,612,000	1,621,000	1,621,000	1,623,000	1,622,000	1,429,000	1,439,000	1,440,000	1,444,000	1,446,000	1,445,000	1,445,000	1,447,000	1,455,000	1,441,000	1,047,000	1,059,000	1,319,000	1,370,000	1,381,000	1,292,000	1,298,000	1,293,000	1,289,000	1,283,000	1,265,000	1,228,000	1,229,000	1,219,000	1,220,000	1,220,000	1,221,000	1,221,000	714,000	712,000	714,000	716,000	794,000	838,000	840,000	845,000	0	0	1,209,000	0
Long Term Debt Total	0	3,049,000	3,053,000	2,454,000	2,453,000	3,150,000	3,798,000	3,815,000	3,968,000	2,978,000	2,986,000	2,982,000	2,984,000	2,981,000	2,491,000	1,602,000	1,612,000	1,612,000	1,621,000	1,621,000	1,623,000	1,622,000	1,429,000	1,439,000	1,440,000	1,444,000	1,446,000	1,445,000	1,445,000	1,447,000	1,455,000	1,441,000	1,047,000	1,059,000	1,319,000	1,370,000	1,381,000	1,292,000	1,298,000	1,293,000	1,289,000	1,283,000	1,265,000	1,228,000	1,229,000	1,219,000	1,220,000	1,220,000	1,221,000	1,221,000	714,000	712,000	0	0	0	0	0	0	0	0	0	0
Long Term Investments	993,000	953,000	958,000	915,000	238,000	830,000	867,000	908,000	257,000	249,000	1,011,000	283,000	289,000	292,000	292,000	294,000	267,000	248,000	238,000	247,000	246,000	239,000	221,000	192,000	230,000	218,000	200,000	188,000	205,000	327,000	329,000	352,000	347,000	343,000	351,000	361,000	374,000	436,000	410,000	441,000	448,000	598,000	473,000	457,000	419,000	430,000	727,000	661,000	640,000	632,000	633,000	614,000	0	0	0	0	0	0	0	0	0	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Debt	2,455,000	2,670,000	2,547,000	2,487,000	2,459,000	2,910,000	2,705,000	3,155,000	3,402,000	960,000	2,499,000	2,554,000	2,443,000	1,885,000	1,475,000	1,184,000	1,155,000	1,391,000	1,638,000	1,644,000	1,064,000	619,000	812,000	290,000	948,000	1,413,000	1,287,000	1,370,000	1,082,000	922,000	832,000	935,000	918,000	808,000	747,000	816,000	705,000	1,164,000	750,000	722,000	1,029,000	532,000	561,000	912,000	820,000	777,000	820,000	682,000	691,000	535,000	-107,000	-368,000	463,000	570,000	426,000	317,000	305,000	279,000	-356,000	0	275,000	0
Net Invested Capital	6,620,000	6,641,000	6,781,000	6,795,000	6,812,000	7,247,000	7,413,000	7,342,000	7,541,000	6,574,000	6,152,000	6,127,000	6,455,000	6,591,000	5,990,000	5,667,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Receivables	956,000	762,000	787,000	828,000	834,000	702,000	699,000	655,000	633,000	373,000	360,000	340,000	316,000	322,000	313,000	365,000	421,000	434,000	497,000	472,000	427,000	436,000	379,000	367,000	350,000	360,000	368,000	367,000	304,000	318,000	330,000	328,000	298,000	325,000	343,000	362,000	274,000	309,000	316,000	323,000	273,000	290,000	606,000	572,000	531,000	605,000	358,000	349,000	225,000	286,000	233,000	215,000	272,000	287,000	313,000	378,000	410,000	330,000	255,000	0	353,000	0
Net Tangible Assets	0	-1,344,000	3,682,000	3,693,000	-1,070,000	3,443,000	3,609,000	3,521,000	-1,379,000	2,935,000	2,249,000	2,219,000	2,538,000	2,650,000	2,784,000	2,952,000	3,199,000	2,981,000	2,849,000	2,821,000	2,759,000	3,501,000	3,249,000	3,729,000	2,702,000	2,827,000	3,030,000	2,918,000	3,179,000	3,195,000	3,335,000	3,321,000	3,315,000	3,459,000	3,646,000	3,758,000	3,942,000	3,979,000	4,048,000	4,025,000	4,031,000	4,081,000	4,059,000	4,181,000	4,300,000	4,383,000	4,365,000	4,388,000	4,357,000	4,318,000	4,438,000	4,769,000	0	0	0	0	0	0	0	0	0	0
Net Working Capital	-1,448,000	-657,000	-631,000	-1,197,000	-1,037,000	-323,000	481,000	77,000	-170,000	2,363,000	1,457,000	1,382,000	1,579,000	1,668,000	1,237,000	570,000	620,000	432,000	190,000	197,000	284,000	1,046,000	811,000	1,145,000	361,000	68,000	290,000	-61,000	215,000	387,000	523,000	450,000	17,000	244,000	711,000	875,000	979,000	298,000	675,000	605,000	292,000	1,077,000	1,205,000	1,113,000	1,140,000	1,263,000	829,000	1,033,000	1,023,000	1,122,000	1,271,000	1,618,000	1,569,000	1,579,000	1,648,000	1,682,000	1,494,000	1,332,000	955,000	0	404,000	0
Non Current Assets Total	10,703,000	10,566,000	10,599,000	10,468,000	10,062,000	9,768,000	9,758,000	10,092,000	10,541,000	6,238,000	6,488,000	6,437,000	6,566,000	6,587,000	6,642,000	6,545,000	6,711,000	6,653,000	6,778,000	6,733,000	6,298,000	5,781,000	5,589,000	5,791,000	6,345,000	6,593,000	6,538,000	6,715,000	6,610,000	6,428,000	6,359,000	6,437,000	6,472,000	6,385,000	6,359,000	6,335,000	6,434,000	6,956,000	6,659,000	6,714,000	7,014,000	6,113,000	5,868,000	6,026,000	5,882,000	5,860,000	6,241,000	5,981,000	5,916,000	5,699,000	5,099,000	5,093,000	5,078,000	5,032,000	4,959,000	4,992,000	5,166,000	5,160,000	5,210,000	0	5,062,000	0
Non Current Liabilities Other	316,000	289,000	3,230,000	3,121,000	2,870,000	2,849,000	2,829,000	2,830,000	2,837,000	2,034,000	149,000	1,949,000	1,947,000	1,921,000	1,895,000	1,805,000	1,752,000	1,712,000	1,700,000	1,681,000	1,282,000	1,270,000	1,270,000	1,303,000	1,735,000	1,560,000	1,539,000	1,489,000	1,472,000	1,451,000	1,419,000	1,446,000	1,447,000	1,436,000	1,423,000	1,414,000	1,401,000	1,271,000	1,257,000	1,251,000	1,240,000	1,154,000	1,094,000	1,097,000	962,000	999,000	967,000	930,000	890,000	813,000	822,000	830,000	0	0	0	0	0	0	0	0	0	0
Non Current Liabilities Total	5,688,000	6,320,000	6,283,000	5,575,000	5,323,000	5,999,000	6,627,000	6,645,000	6,805,000	5,012,000	5,036,000	4,931,000	4,931,000	4,902,000	4,386,000	3,407,000	3,364,000	3,324,000	3,321,000	3,302,000	2,905,000	2,892,000	2,699,000	2,742,000	3,165,000	2,994,000	2,976,000	2,925,000	2,917,000	2,898,000	2,874,000	2,887,000	2,494,000	2,495,000	2,742,000	2,784,000	2,782,000	2,563,000	2,555,000	2,544,000	2,529,000	2,437,000	2,359,000	2,325,000	2,191,000	2,218,000	2,187,000	2,150,000	2,111,000	2,034,000	1,536,000	1,542,000	1,516,000	1,484,000	1,546,000	1,625,000	1,620,000	1,564,000	1,265,000	0	1,874,000	0
Non Currrent Assets Other	4,144,000	1,632,000	1,591,000	1,566,000	1,434,000	1,327,000	1,326,000	1,348,000	1,337,000	1,242,000	1,218,000	1,124,000	1,106,000	1,046,000	1,084,000	955,000	1,012,000	951,000	943,000	909,000	864,000	887,000	883,000	887,000	1,025,000	1,019,000	1,012,000	966,000	1,117,000	1,115,000	1,125,000	1,102,000	1,137,000	1,126,000	1,059,000	1,043,000	1,033,000	1,078,000	1,078,000	1,091,000	1,078,000	1,009,000	763,000	766,000	746,000	725,000	988,000	935,000	935,000	918,000	938,000	942,000	936,000	890,000	869,000	676,000	867,000	857,000	834,000	0	740,000	0
Noncontrolling Interest In Consolidated Entity	0	0	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	5,000	5,000	5,000	6,000	7,000	6,000	6,000	6,000	6,000	6,000	6,000	6,000	5,000	4,000	4,000	4,000	4,000	4,000	4,000	4,000	4,000	8,000	8,000	8,000	8,000	10,000	10,000	-10,000	10,000	10,000	10,000	10,000	10,000	11,000	12,000	13,000	0	0	0	0	0	0	0	0	0	0
Other Assets	0	1,424,000	1,350,000	1,334,000	1,211,000	1,839,000	1,852,000	1,890,000	1,206,000	9,477,000	1,813,000	1,713,000	2,767,000	1,821,000	1,831,000	1,665,000	1,503,000	1,436,000	1,439,000	805,000	1,347,000	1,036,000	1,036,000	1,036,000	2,311,000	2,350,000	2,299,000	2,243,000	2,340,000	2,457,000	2,400,000	2,414,000	2,441,000	2,353,000	2,266,000	2,235,000	2,248,000	2,316,000	2,293,000	2,336,000	2,343,000	2,286,000	1,926,000	1,878,000	1,743,000	1,751,000	2,057,000	1,941,000	1,873,000	1,709,000	1,648,000	1,640,000	1,625,000	1,625,000	1,545,000	1,538,000	1,561,000	1,543,000	0	0	1,567,000	0
Other Current Assets	-1,895,000	183,000	192,000	205,000	180,000	549,000	230,000	629,000	149,000	59,000	64,000	58,000	64,000	42,000	53,000	65,000	134,000	129,000	147,000	156,000	149,000	140,000	152,000	136,000	153,000	150,000	153,000	157,000	153,000	180,000	188,000	160,000	152,000	109,000	118,000	139,000	108,000	109,000	109,000	122,000	122,000	113,000	85,000	76,000	83,000	201,000	91,000	95,000	157,000	113,000	172,000	208,000	18,000	18,000	4,000	599,000	119,000	133,000	172,000	0	106,000	0
Other Current Liab	695,000	643,000	606,000	621,000	650,000	646,000	536,000	648,000	486,000	421,000	306,000	280,000	311,000	331,000	320,000	369,000	448,000	452,000	439,000	371,000	511,000	427,000	440,000	575,000	780,000	697,000	673,000	655,000	643,000	686,000	661,000	612,000	638,000	594,000	567,000	550,000	3,000	38,000	31,000	532,000	544,000	539,000	4,000	450,000	1,000	3,000	491,000	414,000	420,000	427,000	426,000	398,000	394,000	304,000	300,000	284,000	299,000	297,000	283,000	0	335,000	0
Other Liab	0	2,995,000	2,941,000	0	2,572,000	2,556,000	2,535,000	2,511,000	2,488,000	1,674,000	1,683,000	1,586,000	1,570,000	1,531,000	1,513,000	1,419,000	1,359,000	1,317,000	1,294,000	1,276,000	1,282,000	1,270,000	1,270,000	1,303,000	1,663,000	1,550,000	1,530,000	1,480,000	1,415,000	1,451,000	1,419,000	1,446,000	1,388,000	1,436,000	1,423,000	1,414,000	1,335,000	1,271,000	1,257,000	1,251,000	1,166,000	1,283,000	1,094,000	1,097,000	882,000	999,000	967,000	930,000	885,000	813,000	822,000	830,000	782,000	768,000	752,000	787,000	750,000	686,000	0	0	634,000	0
Other Stockholder Equity	-23,000	25,000	155,000	235,000	318,000	404,000	573,000	657,000	640,000	630,000	47,000	36,000	13,000	7,000	3,000	-285,000	3,677,000	-248,000	-212,000	-210,000	50,000	339,000	399,000	906,000	967,000	1,156,000	1,358,000	1,352,000	1,686,000	1,687,000	1,820,000	1,882,000	1,931,000	2,103,000	2,297,000	2,447,000	2,620,000	2,807,000	2,879,000	2,958,000	3,014,000	3,029,000	3,051,000	3,239,000	3,281,000	3,359,000	3,389,000	3,385,000	3,379,000	3,373,000	3,367,000	3,755,000	3,750,000	3,744,000	3,738,000	3,730,000	5,598,000	5,417,000	5,323,000	0	3,978,000	0
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Property Plant And Equipment Gross	4,958,000	2,739,000	2,384,000	2,371,000	4,950,000	2,361,000	2,286,000	2,525,000	0	0	3,586,000	3,617,000	3,600,000	3,663,000	3,710,000	3,773,000	3,949,000	4,007,000	4,120,000	4,112,000	3,608,000	3,570,000	3,376,000	3,572,000	4,034,000	4,243,000	4,239,000	4,472,000	4,270,000	3,971,000	3,959,000	4,023,000	4,031,000	4,032,000	4,093,000	4,100,000	4,186,000	4,640,000	4,366,000	4,378,000	4,671,000	3,827,000	3,942,000	4,148,000	4,139,000	4,487,000	4,184,000	4,040,000	4,043,000	3,990,000	3,451,000	3,380,000	3,453,000	3,407,000	3,414,000	3,454,000	3,605,000	3,617,000	3,616,000	0	3,616,000	0
Property Plant And Equipment Net	369,000	2,739,000	2,767,000	2,755,000	2,769,000	2,731,000	2,663,000	2,936,000	3,294,000	3,331,000	3,586,000	3,617,000	3,600,000	3,663,000	3,710,000	3,773,000	3,949,000	4,007,000	4,120,000	4,112,000	3,608,000	3,570,000	3,376,000	3,572,000	4,034,000	4,243,000	4,239,000	4,472,000	4,270,000	3,971,000	3,959,000	4,023,000	4,031,000	4,032,000	4,093,000	4,100,000	4,186,000	4,640,000	4,366,000	4,378,000	4,671,000	3,827,000	3,942,000	4,148,000	4,139,000	4,487,000	4,184,000	4,040,000	4,043,000	3,990,000	3,451,000	3,380,000	3,453,000	3,407,000	3,414,000	3,454,000	3,605,000	3,617,000	3,616,000	0	3,616,000	0
Property Plant Equipment	0	2,739,000	2,384,000	2,371,000	2,384,000	2,361,000	2,286,000	2,525,000	2,848,000	2,876,000	3,586,000	3,159,000	3,126,000	3,178,000	3,237,000	3,294,000	3,456,000	3,519,000	3,615,000	3,605,000	3,608,000	3,570,000	3,376,000	3,572,000	4,034,000	4,243,000	4,239,000	4,472,000	4,270,000	3,971,000	3,959,000	4,023,000	4,031,000	4,032,000	4,093,000	4,100,000	4,186,000	4,640,000	4,366,000	4,378,000	4,671,000	3,827,000	3,942,000	4,148,000	4,139,000	4,109,000	4,184,000	4,040,000	4,043,000	3,990,000	3,451,000	3,453,000	3,453,000	3,407,000	3,414,000	3,454,000	3,605,000	3,617,000	0	0	3,495,000	0
Retained Earnings	3,738,000	3,784,000	3,732,000	3,680,000	3,622,000	3,328,000	3,300,000	3,094,000	3,167,000	3,196,000	3,076,000	3,085,000	3,389,000	3,592,000	3,753,000	3,989,000	4,170,000	4,003,000	3,853,000	3,831,000	3,819,000	3,791,000	3,571,000	3,511,000	2,742,000	2,666,000	2,650,000	2,563,000	2,493,000	2,452,000	2,390,000	2,323,000	2,289,000	2,252,000	2,227,000	2,187,000	2,165,000	1,983,000	1,951,000	1,877,000	1,821,000	1,789,000	1,725,000	1,613,000	1,605,000	1,589,000	1,566,000	1,527,000	1,517,000	1,465,000	1,451,000	1,414,000	1,404,000	1,398,000	1,368,000	1,343,000	1,338,000	1,350,000	1,345,000	0	1,381,000	0
Retained Earnings Total Equity	0	0	3,732,000	3,680,000	3,622,000	3,328,000	3,300,000	3,094,000	3,167,000	3,196,000	3,076,000	3,085,000	3,389,000	3,592,000	3,753,000	3,989,000	4,170,000	4,003,000	3,853,000	3,831,000	3,819,000	3,791,000	3,571,000	3,511,000	2,742,000	2,666,000	2,650,000	2,563,000	2,493,000	2,452,000	2,390,000	2,323,000	2,289,000	2,252,000	2,227,000	2,187,000	2,165,000	1,983,000	1,951,000	1,877,000	1,821,000	1,789,000	1,725,000	1,613,000	1,605,000	1,589,000	1,566,000	1,527,000	1,517,000	1,465,000	1,451,000	1,414,000	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt	751,000	6,000	46,000	648,000	660,000	654,000	6,000	6,000	10,000	10,000	260,000	260,000	260,000	260,000	9,000	360,000	11,000	11,000	91,000	131,000	11,000	11,000	11,000	11,000	11,000	352,000	1,687,000	299,000	119,000	19,000	19,000	0	328,000	0	0	0	9,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt Total	3,370,000	3,371,000	3,429,000	3,435,000	3,450,000	4,133,000	4,133,000	4,178,000	4,362,000	3,378,000	3,643,000	3,632,000	3,650,000	3,663,000	2,913,000	2,378,000	2,048,000	2,051,000	2,153,000	2,191,000	1,634,000	1,633,000	1,440,000	1,450,000	1,451,000	1,796,000	1,687,000	1,744,000	1,564,000	1,466,000	1,474,000	1,706,000	1,375,000	1,377,000	1,391,000	1,379,000	1,390,000	1,427,000	1,303,000	1,487,000	1,483,000	1,306,000	1,279,000	1,242,000	1,233,000	1,223,000	1,224,000	1,224,000	1,225,000	1,225,000	769,000	768,000	1,573,000	1,576,000	1,605,000	1,625,000	1,632,000	1,576,000	612,000	0	703,000	0
Short Term Debt	792,000	46,000	87,000	687,000	699,000	690,000	41,000	41,000	45,000	40,000	290,000	287,000	289,000	292,000	40,000	390,000	43,000	44,000	126,000	165,000	11,000	11,000	11,000	11,000	11,000	352,000	241,000	299,000	119,000	19,000	19,000	265,000	328,000	318,000	72,000	9,000	9,000	135,000	5,000	194,000	194,000	23,000	14,000	14,000	4,000	4,000	4,000	4,000	4,000	4,000	55,000	56,000	57,000	92,000	59,000	0	12,000	12,000	17,000	0	38,000	0
Short Term Investments	15,000	26,000	24,000	103,000	158,000	151,000	527,000	282,000	227,000	357,000	593,000	550,000	675,000	310,000	65,000	68,000	68,000	63,000	62,000	54,000	116,000	217,000	154,000	54,000	49,000	56,000	51,000	52,000	56,000	46,000	49,000	55,000	46,000	65,000	80,000	80,000	130,000	30,000	30,000	30,000	30,000	38,000	87,000	457,000	514,000	542,000	502,000	509,000	588,000	506,000	521,000	527,000	524,000	604,000	444,000	125,000	62,000	59,000	0	0	65,000	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Assets	12,833,000	12,317,000	12,589,000	12,618,000	12,312,000	12,402,000	12,650,000	12,689,000	12,603,000	9,477,000	8,962,000	8,769,000	9,129,000	9,225,000	8,580,000	8,298,000	8,417,000	8,129,000	8,082,000	8,035,000	7,643,000	7,724,000	7,316,000	7,987,000	7,672,000	7,861,000	7,901,000	7,763,000	7,749,000	7,647,000	7,706,000	7,899,000	7,596,000	7,672,000	7,842,000	7,909,000	8,143,000	8,069,000	8,013,000	8,176,000	8,177,000	7,869,000	7,707,000	7,722,000	7,640,000	7,736,000	7,681,000	7,562,000	7,507,000	7,387,000	6,997,000	7,278,000	7,243,000	7,232,000	7,170,000	7,154,000	7,155,000	7,054,000	6,739,000	0	6,119,000	0
Total Current Assets	2,130,000	1,751,000	1,990,000	2,150,000	2,250,000	2,634,000	2,892,000	2,597,000	2,062,000	3,239,000	2,474,000	2,332,000	2,563,000	2,638,000	1,938,000	1,753,000	1,706,000	1,476,000	1,304,000	1,302,000	1,345,000	1,943,000	1,727,000	2,196,000	1,327,000	1,268,000	1,363,000	1,048,000	1,139,000	1,219,000	1,347,000	1,462,000	1,124,000	1,287,000	1,483,000	1,574,000	1,709,000	1,113,000	1,354,000	1,462,000	1,163,000	1,756,000	1,839,000	1,696,000	1,758,000	1,876,000	1,440,000	1,581,000	1,591,000	1,688,000	1,898,000	2,185,000	2,165,000	2,200,000	2,211,000	2,162,000	1,989,000	1,894,000	1,529,000	0	1,057,000	0
Total Current Liabilities	3,578,000	2,408,000	2,621,000	3,347,000	3,287,000	2,957,000	2,411,000	2,520,000	2,232,000	876,000	1,017,000	950,000	984,000	970,000	701,000	1,183,000	1,086,000	1,044,000	1,114,000	1,105,000	1,061,000	897,000	916,000	1,051,000	966,000	1,200,000	1,073,000	1,109,000	924,000	832,000	824,000	1,012,000	1,107,000	1,043,000	772,000	699,000	730,000	815,000	679,000	857,000	871,000	679,000	634,000	583,000	618,000	613,000	611,000	548,000	568,000	566,000	627,000	567,000	596,000	621,000	563,000	480,000	495,000	562,000	574,000	0	653,000	0
Total Liab	9,266,000	8,728,000	8,904,000	8,922,000	8,610,000	8,956,000	9,038,000	9,165,000	9,037,000	5,888,000	6,053,000	5,881,000	5,915,000	5,872,000	5,087,000	4,590,000	4,450,000	4,368,000	4,435,000	4,407,000	3,966,000	3,789,000	3,615,000	3,793,000	4,131,000	4,194,000	4,049,000	4,034,000	3,841,000	3,730,000	3,698,000	3,899,000	3,601,000	3,538,000	3,514,000	3,483,000	3,512,000	3,378,000	3,234,000	3,401,000	3,400,000	3,116,000	2,993,000	2,908,000	2,809,000	2,831,000	2,798,000	2,698,000	2,679,000	2,600,000	2,163,000	2,109,000	2,112,000	2,105,000	2,109,000	2,105,000	2,115,000	2,126,000	1,839,000	0	2,527,000	0
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,839,000	3,839,000	3,839,000	3,531,000	3,657,000	3,843,000	3,720,000	3,908,000	3,917,000	4,008,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Stockholder Equity	3,564,000	3,586,000	3,682,000	3,693,000	3,699,000	3,443,000	3,609,000	3,521,000	3,563,000	3,586,000	2,906,000	2,885,000	3,211,000	3,350,000	3,490,000	3,705,000	3,962,000	3,756,000	3,642,000	3,622,000	3,670,000	3,929,000	3,695,000	4,188,000	3,525,000	3,651,000	3,837,000	3,714,000	3,903,000	3,913,000	4,004,000	3,996,000	3,991,000	4,130,000	4,324,000	4,422,000	4,627,000	4,683,000	4,771,000	4,767,000	4,769,000	4,743,000	4,704,000	4,804,000	4,821,000	4,895,000	4,873,000	4,854,000	4,818,000	4,776,000	4,822,000	5,156,000	5,118,000	5,105,000	5,039,000	5,026,000	5,016,000	4,902,000	4,874,000	0	3,564,000	0
Treasury Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-8,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-2,000	-2,000	0	0	0	0	0
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

Cash Flow

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31
Begin Period Cash Flow	1,030,000	1,065,000	1,237,000	1,063,000	622,000	752,000	482,000	457,000	685,000	454,000	413,000	534,000	1,110,000	1,327,000	428,000	416,000	807,000
Capital Expenditures	198,000	201,000	111,000	122,000	369,000	297,000	298,000	211,000	269,000	253,000	232,000	301,000	331,000	520,000	325,000	286,000	617,000
Cash And Cash Equivalents Changes	0	-16,000	-169,000	178,000	440,000	-130,000	21,000	25,000	-228,000	231,000	41,000	-121,000	-576,000	0	0	0	0
Cash Flows Other Operating	0	338,000	434,000	-78,000	-47,000	0	10,000	-44,000	-4,000	-114,000	-85,000	-11,000	162,000	0	0	0	0
Change In Cash	-115,000	2,000	-172,000	174,000	441,000	-130,000	21,000	25,000	-228,000	231,000	41,000	-121,000	-576,000	-217,000	899,000	12,000	-391,000
Change In Working Capital	203,000	167,000	388,000	-404,000	-8,000	-79,000	126,000	-32,000	25,000	24,000	-31,000	-67,000	35,000	70,000	-84,000	-179,000	47,000
Change Receivables	0	-209,000	-85,000	133,000	-29,000	14,000	-37,000	-14,000	29,000	-28,000	-9,000	-33,000	-17,000	0	0	0	0
Change To Account Receivables	0	-209,000	-85,000	-32,000	20,000	14,000	1,000	17,000	14,000	-100,000	1,000	-143,000	-17,000	22,000	-33,000	-122,000	75,000
Change To Inventory	0	209,000	85,000	-133,000	1,000	0	12,000	2,000	1,000	8,000	3,000	8,000	7,000	4,000	-10,000	-21,000	14,000
Change To Liabilities	0	142,000	95,000	-323,000	98,000	-23,000	141,000	24,000	-1,000	158,000	60,000	103,000	15,000	0	0	0	0
Change To Netincome	0	-478,000	-217,000	50,000	-722,000	-746,000	-122,000	-25,000	69,000	-251,000	-63,000	79,000	-79,000	0	0	0	0
Change To Operating Activities	0	-213,000	-82,000	-120,000	-16,000	-8,000	34,000	-52,000	18,000	-89,000	0	0	0	0	0	0	0
Depreciation	397,000	461,000	337,000	341,000	364,000	327,000	366,000	342,000	320,000	354,000	345,000	353,000	305,000	279,000	270,000	249,000	214,000
Dividends Paid	47,000	16,000	0	20,000	80,000	68,000	68,000	68,000	68,000	0	0	0	0	0	1,000	2,000	1,000
End Period Cash Flow	915,000	1,067,000	1,065,000	1,237,000	1,063,000	622,000	503,000	482,000	457,000	685,000	454,000	413,000	534,000	1,110,000	1,327,000	428,000	416,000
Exchange Rate Changes	0	0	0	0	0	5,000	-7,000	12,000	-4,000	-8,000	-4,000	-7,000	-10,000	0	0	0	0
Free Cash Flow	599,000	473,000	204,000	-733,000	27,000	44,000	322,000	278,000	269,000	220,000	224,000	198,000	62,000	-70,000	-49,000	5,000	-231,000
Investments	-318,000	-8,000	-14,000	-32,000	28,000	-2,000	347,000	18,000	4,000	-107,000	805,000	539,000	507,000	0	0	0	0
Issuance Of Capital Stock	0	0	575,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	-711,000	742,000	1,644,000	-9,000	189,000	-112,000	182,000	7,000	-150,000	17,000	10,000	465,000	0	0	0	0
Net Income	220,000	455,000	-222,000	-703,000	766,000	769,000	250,000	204,000	124,000	346,000	205,000	87,000	111,000	51,000	-45,000	114,000	266,000
Other Cashflows From Financing Activities	-14,000	-26,000	1,931,000	-15,000	-31,000	-21,000	667,000	614,000	5,000	235,000	379,000	12,000	506,000	-636,000	-12,000	168,000	1,886,000
Other Cashflows From Investing Activities	0	625,000	-1,647,000	-582,000	926,000	673,000	217,000	-187,000	218,000	733,000	-720,000	-727,000	-1,191,000	0	0	131,000	0
Other Non Cash Items	27,000	-211,000	-447,000	186,000	-789,000	-671,000	-201,000	-48,000	146,000	-275,000	-12,000	28,000	49,000	37,000	56,000	-44,000	-76,000
Sale Purchase Of Stock	-453,000	-369,000	575,000	-69,000	-421,000	-946,000	-743,000	-272,000	-715,000	-443,000	-275,000	-136,000	-396,000	0	1,173,000	0	-1,101,000
Stock Based Compensation	75,000	61,000	59,000	28,000	35,000	28,000	32,000	26,000	26,000	52,000	-44,000	33,000	30,000	21,000	6,000	146,000	35,000
Total Cash From Financing Activities	-578,000	-1,106,000	1,288,000	1,525,000	-541,000	-850,000	-858,000	-96,000	-715,000	-607,000	-264,000	-124,000	56,000	-39,000	1,056,000	-20,000	-374,000
Total Cash From Operating Activities	797,000	674,000	315,000	-611,000	396,000	341,000	620,000	489,000	538,000	473,000	456,000	499,000	393,000	450,000	276,000	291,000	386,000
Total Cashflows From Investing Activities	0	416,000	-1,772,000	-736,000	585,000	374,000	266,000	-380,000	-47,000	373,000	-147,000	-489,000	-1,015,000	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31
Begin Period Cash Flow	714,000	931,000	1,006,000	1,067,000	1,617,000	1,518,000	1,119,000	1,065,000	2,481,000	1,203,000	1,106,000	1,237,000	1,810,000	1,479,000	1,232,000	1,063,000	820,000	567,000	591,000	622,000	1,056,000	901,000	1,629,000	752,000	383,000	400,000	374,000	482,000	544,000	642,000	771,000	457,000	569,000	644,000	563,000	685,000	263,000	553,000	765,000	454,000	774,000	718,000	330,000	413,000	446,000	404,000	542,000	534,000	690,000	876,000	1,136,000	1,110,000	1,006,000	1,179,000	1,308,000	1,327,000	1,297,000	968,000	364,000	428,000	437,000	513,000	-	-
Capital Expenditures	64,000	54,000	50,000	30,000	59,000	38,000	61,000	43,000	46,000	28,000	18,000	19,000	18,000	16,000	33,000	55,000	125,000	98,000	80,000	66,000	102,000	74,000	61,000	60,000	86,000	79,000	83,000	50,000	71,000	55,000	47,000	38,000	84,000	63,000	61,000	61,000	85,000	57,000	70,000	41,000	82,000	58,000	26,000	66,000	91,000	53,000	62,000	95,000	115,000	98,000	72,000	46,000	370,000	60,000	53,000	37,000	62,000	50,000	46,000	167,000	94,000	49,000	0	0
Cash And Cash Equivalents Changes	0	0	-73,000	-57,000	-544,000	86,000	386,000	56,000	-1,416,000	1,274,000	109,000	-136,000	-568,000	334,000	246,000	166,000	248,000	247,000	-24,000	-31,000	-434,000	146,000	-719,000	877,000	120,000	-17,000	26,000	-108,000	-62,000	-98,000	-129,000	314,000	-112,000	-75,000	81,000	-122,000	410,000	-290,000	-200,000	311,000	-320,000	56,000	388,000	-83,000	-33,000	42,000	-138,000	8,000	-156,000	-186,000	-260,000	26,000	0	0	0	0	0	0	0	0	0	0	-	-
Cash Flows Other Operating	0	0	27,000	21,000	267,000	26,000	27,000	18,000	386,000	15,000	17,000	16,000	-173,000	14,000	67,000	14,000	-76,000	18,000	6,000	5,000	-58,000	48,000	10,000	0	10,000	0	0	0	-44,000	0	0	0	-4,000	0	0	0	-114,000	0	0	0	-81,000	-11,000	0	7,000	-32,000	12,000	4,000	5,000	149,000	-36,000	76,000	-27,000	0	0	0	0	0	0	0	0	0	0	-	-
Change In Cash	201,000	-213,000	-75,000	-61,000	-550,000	99,000	399,000	54,000	-1,416,000	1,278,000	97,000	-131,000	-573,000	331,000	247,000	169,000	243,000	253,000	-24,000	-31,000	-434,000	155,000	-728,000	877,000	120,000	-17,000	26,000	-108,000	-62,000	-98,000	-129,000	314,000	-112,000	-75,000	81,000	-122,000	422,000	-290,000	-212,000	311,000	-320,000	56,000	388,000	-83,000	-33,000	42,000	-138,000	8,000	-156,000	-186,000	-260,000	26,000	104,000	-173,000	-129,000	-19,000	30,000	329,000	604,000	-64,000	-9,000	-76,000	-	-
Change In Working Capital	316,000	-113,000	-74,000	77,000	199,000	-162,000	64,000	66,000	72,000	348,000	15,000	-47,000	-75,000	-76,000	-115,000	-138,000	113,000	23,000	-10,000	-134,000	68,000	-46,000	-186,000	85,000	157,000	-5,000	9,000	-35,000	18,000	-12,000	24,000	-62,000	-21,000	111,000	29,000	-94,000	63,000	-12,000	33,000	-60,000	-9,000	82,000	-20,000	-84,000	-109,000	34,000	44,000	-36,000	1,000	24,000	50,000	-40,000	57,000	20,000	21,000	-28,000	-37,000	-7,000	-20,000	-20,000	-42,000	-10,000	-	-
Change Receivables	0	0	0	0	-209,000	0	0	0	-85,000	0	0	0	133,000	0	0	0	-29,000	0	0	0	14,000	0	0	0	-37,000	0	0	0	-14,000	0	0	0	29,000	0	0	0	-28,000	0	0	0	-9,000	0	0	0	-33,000	0	0	0	-17,000	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Change To Account Receivables	0	0	0	0	-209,000	-209,000	0	0	-85,000	-85,000	-85,000	-85,000	-32,000	133,000	133,000	133,000	-29,000	-29,000	-29,000	-29,000	14,000	14,000	14,000	14,000	-37,000	0	0	0	-14,000	0	0	0	29,000	0	0	0	-28,000	0	0	0	9,000	0	0	0	-33,000	0	0	0	-17,000	0	0	0	22,000	1,000	0	0	-75,000	46,000	0	0	-66,000	57,000	-	-
Change To Inventory	0	0	0	0	209,000	0	0	0	0	0	0	0	0	0	0	0	1,000	1,000	1,000	1,000	0	0	0	0	12,000	0	0	0	2,000	0	0	0	1,000	0	0	0	8,000	0	0	0	3,000	0	0	0	8,000	0	0	0	7,000	0	0	0	4,000	0	0	0	1,000	0	0	0	-6,000	-5,000	-	-
Change To Liabilities	0	0	0	0	142,000	0	0	0	95,000	0	0	0	-323,000	0	0	0	98,000	0	0	0	-23,000	0	0	0	141,000	0	0	141,000	24,000	24,000	24,000	0	-1,000	0	0	0	158,000	0	0	0	60,000	0	0	0	103,000	0	0	0	15,000	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Change To Netincome	0	-6,000	-48,000	48,000	-329,000	-130,000	-135,000	116,000	-352,000	61,000	-53,000	123,000	341,000	-66,000	-134,000	-91,000	-274,000	-304,000	-9,000	-135,000	148,000	-264,000	-190,000	-440,000	-124,000	22,000	-9,000	-11,000	41,000	-37,000	35,000	-64,000	-7,000	109,000	53,000	-86,000	-180,000	-15,000	46,000	-102,000	6,000	62,000	-55,000	-76,000	69,000	12,000	38,000	-40,000	-127,000	30,000	21,000	-3,000	0	0	0	0	0	0	0	0	0	0	-	-
Change To Operating Activities	0	-116,000	-74,000	-74,000	-181,000	-162,000	64,000	66,000	-398,000	348,000	15,000	-47,000	209,000	-76,000	-115,000	-138,000	105,000	23,000	-10,000	-134,000	139,000	-46,000	-186,000	85,000	34,000	-5,000	9,000	-35,000	-52,000	6,000	25,000	0	18,000	0	0	0	-89,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Depreciation	100,000	109,000	109,000	107,000	116,000	104,000	113,000	128,000	98,000	77,000	80,000	82,000	85,000	87,000	81,000	88,000	116,000	85,000	83,000	80,000	84,000	81,000	79,000	83,000	92,000	92,000	91,000	91,000	88,000	87,000	86,000	81,000	87,000	78,000	76,000	79,000	85,000	91,000	83,000	95,000	91,000	81,000	85,000	88,000	90,000	88,000	89,000	86,000	87,000	75,000	72,000	71,000	75,000	68,000	66,000	70,000	71,000	69,000	65,000	65,000	62,000	62,000	-	-
Dividends Paid	15,000	16,000	16,000	16,000	16,000	16,000	0	0	0	0	0	0	20,000	20,000	20,000	20,000	20,000	20,000	20,000	20,000	16,000	17,000	17,000	18,000	68,000	0	0	0	68,000	0	0	0	68,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,000	0	-	-
End Period Cash Flow	915,000	718,000	931,000	1,006,000	1,067,000	1,617,000	1,518,000	1,119,000	1,065,000	2,481,000	1,203,000	1,106,000	1,237,000	1,810,000	1,479,000	1,232,000	1,063,000	820,000	567,000	591,000	622,000	1,056,000	901,000	1,629,000	503,000	383,000	400,000	374,000	482,000	544,000	642,000	771,000	457,000	569,000	644,000	563,000	685,000	263,000	553,000	765,000	454,000	774,000	718,000	330,000	413,000	446,000	404,000	542,000	534,000	690,000	876,000	1,136,000	1,110,000	1,006,000	1,179,000	1,308,000	1,327,000	1,297,000	968,000	364,000	428,000	437,000	513,000	-
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	4,000	0	2,000	2,000	4,000	-3,000	-9,000	0	1,000	1,000	-3,000	-1,000	5,000	11,000	-2,000	-10,000	-7,000	15,000	-4,000	2,000	-5,000	-1,000	-10,000	0	-5,000	11,000	-2,000	0	-1,000	-4,000	-1,000	-9,000	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Free Cash Flow	307,000	1,000	96,000	195,000	212,000	-18,000	142,000	137,000	60,000	239,000	15,000	-110,000	-166,000	-149,000	-263,000	-155,000	-3,000	-3,000	86,000	-53,000	107,000	28,000	-85,000	-6,000	84,000	52,000	86,000	100,000	67,000	57,000	141,000	13,000	58,000	149,000	108,000	-46,000	26,000	52,000	134,000	8,000	18,000	136,000	109,000	-39,000	42,000	82,000	108,000	-34,000	-60,000	30,000	97,000	-5,000	-220,000	56,000	70,000	24,000	-7,000	110,000	-21,000	-131,000	-40,000	45,000	-	-
Investments	-61,000	6,000	-7,000	-13,000	14,000	-12,000	-10,000	-110,000	6,000	-12,000	17,000	-16,000	-32,000	-274,000	-57,000	13,000	-18,000	46,000	-56,000	-39,000	-2,000	-71,000	-112,000	9,000	215,000	-46,000	-22,000	200,000	-38,000	15,000	58,000	-17,000	26,000	-18,000	-10,000	6,000	-32,000	5,000	-56,000	-24,000	506,000	-76,000	298,000	77,000	189,000	171,000	69,000	110,000	186,000	80,000	159,000	82,000	0	0	0	0	0	0	0	0	0	0	-	-
Issuance Of Capital Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Net Borrowings	0	-43,000	-6,000	-6,000	-694,000	-1,000	-16,000	-16,000	1,000,000	-256,000	-1,000	-1,000	-1,000	756,000	540,000	349,000	-2,000	-85,000	-41,000	119,000	-1,000	192,000	-1,000	-1,000	-112,000	104,000	-52,000	177,000	97,000	-6,000	-240,000	331,000	7,000	-3,000	10,000	0	-100,000	127,000	-180,000	3,000	-67,000	32,000	41,000	11,000	10,000	0	0	0	0	443,000	-2,000	24,000	0	0	0	0	0	0	0	0	0	0	-	-
Net Income	26,000	68,000	68,000	58,000	294,000	28,000	206,000	-73,000	-29,000	120,000	-9,000	-304,000	-203,000	-161,000	-236,000	-103,000	321,000	296,000	86,000	63,000	44,000	237,000	77,000	411,000	76,000	17,000	87,000	70,000	41,000	62,000	67,000	34,000	37,000	25,000	40,000	22,000	182,000	33,000	75,000	56,000	30,000	55,000	112,000	8,000	15,000	23,000	39,000	10,000	52,000	13,000	36,000	10,000	-4,000	29,000	19,000	7,000	-13,000	6,000	-51,000	13,000	-143,000	82,000	76,000	97,000
Other Cashflows From Financing Activities	-1,000	-187,000	-16,000	-13,000	-1,000	229,000	-128,000	-14,000	1,948,000	572,000	-1,000	-13,000	-1,000	745,000	883,000	-7,000	2,000	1,000	-32,000	-2,000	2,000	-1,000	-7,000	-15,000	42,000	203,000	236,000	186,000	96,000	6,000	90,000	422,000	-5,000	9,000	6,000	-6,000	60,000	172,000	-181,000	-7,000	-4,000	31,000	39,000	9,000	9,000	6,000	-3,000	-49,000	-210,000	481,000	-396,000	25,000	-25,000	-263,000	-259,000	-89,000	675,000	1,111,000	640,000	115,000	175,000	17,000	-	-
Other Cashflows From Investing Activities	0	-160,000	-32,000	-106,000	31,000	279,000	382,000	-67,000	-2,470,000	731,000	-35,000	-12,000	-368,000	-258,000	-24,000	68,000	430,000	445,000	24,000	27,000	-234,000	12,000	-100,000	995,000	365,000	79,000	17,000	-244,000	-177,000	-31,000	-22,000	43,000	-13,000	-6,000	141,000	96,000	740,000	-399,000	-2,000	394,000	-749,000	133,000	166,000	-137,000	-168,000	-184,000	-311,000	-64,000	-281,000	-717,000	-118,000	-75,000	0	0	0	2,000	0	0	0	0	131,000	0	-	-
Other Non Cash Items	-25,000	-134,000	36,000	-29,000	-100,000	52,000	-191,000	28,000	-35,000	-293,000	-65,000	-54,000	-18,000	19,000	45,000	81,000	-427,000	-342,000	-2,000	-18,000	28,000	5,000	11,000	1,000	-155,000	27,000	-18,000	40,000	-22,000	-11,000	12,000	-1,000	99,000	34,000	34,000	5,000	-207,000	17,000	16,000	-47,000	34,000	-24,000	-85,000	17,000	53,000	13,000	-3,000	-3,000	39,000	22,000	11,000	5,000	13,000	-7,000	20,000	5,000	17,000	17,000	39,000	-22,000	-58,000	2,000	-	-
Sale Purchase Of Stock	-95,000	-144,000	-108,000	-106,000	-106,000	-162,000	-101,000	0	575,000	575,000	0	0	-69,000	-69,000	-69,000	-69,000	-141,000	-133,000	-45,000	-102,000	-292,000	-66,000	-513,000	-75,000	-188,000	-207,000	0	-348,000	-4,000	-137,000	-68,000	-63,000	-176,000	-195,000	-157,000	-187,000	-215,000	-79,000	-90,000	-59,000	-23,000	-29,000	-196,000	-27,000	-103,000	-33,000	0	0	0	0	-396,000	0	0	0	0	0	0	0	0	0	0	0	-	-
Stock Based Compensation	15,000	12,000	15,000	31,000	14,000	3,000	13,000	31,000	10,000	8,000	9,000	32,000	4,000	4,000	3,000	17,000	3,000	5,000	6,000	21,000	11,000	-180,000	-3,000	-516,000	0	0	0	0	0	0	0	0	0	0	0	0	0	-1,000	-1,000	0	2,000	0	0	0	1,000	0	0	0	0	1,000	1,000	0	22,000	1,000	6,000	-2,000	15,000	-5,000	1,000	0	216,000	-29,000	-	-
Total Cash From Financing Activities	-112,000	-203,000	-130,000	-133,000	-801,000	-163,000	-128,000	-14,000	988,000	316,000	-2,000	-14,000	-2,000	741,000	533,000	253,000	-161,000	-237,000	-138,000	-5,000	-307,000	104,000	-538,000	-109,000	-537,000	-100,000	-56,000	-165,000	89,000	-138,000	-311,000	264,000	-181,000	-190,000	-151,000	-193,000	-320,000	50,000	-271,000	-66,000	-91,000	2,000	-157,000	-18,000	-94,000	-27,000	-3,000	0	56,000	430,000	-398,000	24,000	-31,000	-3,000	-2,000	-3,000	123,000	234,000	627,000	72,000	5,000	-15,000	-	-
Total Cash From Operating Activities	371,000	55,000	146,000	225,000	271,000	20,000	203,000	180,000	106,000	267,000	33,000	-91,000	-148,000	-133,000	-230,000	-100,000	122,000	95,000	166,000	13,000	209,000	102,000	-24,000	54,000	170,000	131,000	169,000	150,000	138,000	112,000	188,000	51,000	142,000	212,000	169,000	15,000	111,000	109,000	204,000	49,000	100,000	194,000	135,000	27,000	133,000	135,000	170,000	61,000	55,000	128,000	169,000	41,000	150,000	116,000	123,000	61,000	55,000	160,000	25,000	36,000	54,000	94,000	-	-
Total Cashflows From Investing Activities	0	-304,000	-89,000	-149,000	-14,000	229,000	311,000	-110,000	-2,510,000	691,000	78,000	-31,000	-418,000	-274,000	-57,000	13,000	287,000	393,000	-56,000	-39,000	-338,000	-62,000	-161,000	935,000	494,000	-46,000	-88,000	-94,000	-286,000	-71,000	-11,000	-12,000	-71,000	-87,000	70,000	41,000	623,000	-451,000	-128,000	329,000	-325,000	-134,000	415,000	-103,000	-70,000	-66,000	-304,000	-49,000	-210,000	-735,000	-31,000	-39,000	0	0	0	0	0	0	0	0	0	0	-	-

Income Statement

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31
Cost Of Revenue	5,747,000	4,603,000	2,603,000	2,067,000	4,077,000	3,475,000	3,638,000	3,473,000	3,377,000	3,433,000	3,283,000	3,121,000	2,957,000	2,864,000	2,753,000	2,934,000	2,847,000
Depreciation And Amortization	397,000	426,000	310,000	310,000	329,000	327,000	366,000	342,000	320,000	354,000	345,000	353,000	305,000	279,000	270,000	249,000	214,000
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	402,000	363,000	-242,000	-794,000	314,000	291,000	555,000	378,000	254,000	287,000	249,000	157,000	157,000	68,000	35,000	378,000	396,000
Ebitda	799,000	789,000	68,000	-484,000	643,000	618,000	921,000	720,000	574,000	641,000	594,000	510,000	462,000	347,000	305,000	627,000	610,000
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	-3,000	-58,000	0	0	0	0	0	0	0	0	0	0
Gross Profit	975,000	1,288,000	425,000	-1,000	943,000	979,000	1,047,000	956,000	951,000	982,000	901,000	828,000	741,000	663,000	579,000	903,000	891,000
Income Before Tax	310,000	363,000	44,000	-960,000	1,006,000	951,000	573,000	289,000	194,000	525,000	321,000	95,000	83,000	88,000	-55,000	204,000	474,000
Income Tax Expense	90,000	-92,000	266,000	-257,000	240,000	182,000	323,000	85,000	70,000	179,000	116,000	8,000	-28,000	37,000	-10,000	90,000	208,000
Interest Expense	140,000	150,000	163,000	128,000	75,000	76,000	80,000	76,000	68,000	71,000	65,000	70,000	57,000	54,000	56,000	75,000	43,000
Interest Income	71,000	243,000	50,000	115,000	25,000	28,000	101,000	19,000	134,000	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	3,000	5,000	7,000	1,000	5,000	4,000	2,000	-2,000	-1,000	-2,000	0	0	2,000	0
Net Income	220,000	455,000	-222,000	-703,000	766,000	769,000	249,000	204,000	124,000	344,000	207,000	88,000	113,000	66,000	-43,000	170,000	271,000
Net Income Applicable To Common Shares	0	455,000	-222,000	-703,000	766,000	769,000	249,000	204,000	124,000	344,000	207,000	88,000	113,000	62,000	0	112,000	0
Net Income From Continuing Ops	488,000	455,000	-222,000	-703,000	766,000	769,000	250,000	204,000	124,000	346,000	437,000	87,000	111,000	0	0	0	0
Net Interest Income	-68,000	-150,000	-135,000	-128,000	-32,000	-37,000	31,000	-57,000	0	0	0	0	0	0	0	0	0
Non Operating Income Net Other	0	153,000	466,000	-138,000	902,000	720,000	351,000	66,000	-56,000	334,000	158,000	-1,000	0	0	0	0	0
Non Recurring	0	38,000	8,000	62,000	18,000	25,000	0	0	5,000	17,000	22,000	0	6,000	0	0	0	0
Operating Income	402,000	363,000	-242,000	-794,000	314,000	332,000	302,000	299,000	323,000	279,000	233,000	159,000	153,000	108,000	48,000	364,000	385,000
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	6,320,000	5,493,000	3,279,000	2,698,000	4,823,000	4,122,000	4,383,000	4,130,000	4,005,000	4,136,000	3,951,000	3,790,000	3,545,000	3,419,000	3,284,000	3,473,000	3,353,000
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	441,000	426,000	337,000	341,000	364,000	327,000	366,000	0	0	0	0	0	0	0	0	0	0
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	603,000	464,000	366,000	321,000	417,000	320,000	379,000	315,000	308,000	349,000	323,000	316,000	283,000	276,000	261,000	270,000	0
Tax Provision	-128,000	-92,000	266,000	-257,000	240,000	182,000	323,000	85,000	70,000	0	0	0	0	0	0	0	0
Total Operating Expenses	573,000	890,000	676,000	631,000	746,000	647,000	745,000	657,000	628,000	703,000	668,000	669,000	588,000	555,000	531,000	539,000	506,000
Total Other Income Expense Net	-92,000	115,000	286,000	-166,000	692,000	695,000	351,000	47,000	-61,000	317,000	153,000	-17,000	-13,000	34,000	-47,000	-85,000	132,000
Total Revenue	6,722,000	5,891,000	3,028,000	2,066,000	5,020,000	4,454,000	4,685,000	4,429,000	4,328,000	4,415,000	4,184,000	3,949,000	3,698,000	3,527,000	3,332,000	3,837,000	3,738,000

	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	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31
Cost Of Revenue	1,465,000	754,000	1,357,000	1,345,000	1,252,000	1,192,000	1,132,000	1,027,000	902,000	704,000	573,000	424,000	454,000	418,000	334,000	861,000	1,033,000	1,007,000	1,030,000	1,007,000	910,000	849,000	864,000	852,000	931,000	881,000	909,000	917,000	861,000	858,000	902,000	852,000	873,000	833,000	849,000	822,000	850,000	864,000	880,000	839,000	858,000	815,000	824,000	786,000	793,000	774,000	775,000	772,000	791,000	711,000	738,000	717,000	746,000	731,000	706,000	681,000	735,000	677,000	689,000	650,000	713,000	725,000	769,000	727,000
Depreciation And Amortization	100,000	100,000	99,000	98,000	106,000	104,000	113,000	128,000	91,000	71,000	74,000	74,000	77,000	80,000	81,000	80,000	81,000	85,000	83,000	80,000	84,000	81,000	79,000	83,000	92,000	92,000	91,000	91,000	88,000	87,000	86,000	81,000	87,000	78,000	76,000	79,000	85,000	91,000	83,000	95,000	91,000	81,000	85,000	88,000	90,000	88,000	89,000	86,000	87,000	75,000	72,000	71,000	75,000	68,000	66,000	70,000	71,000	69,000	65,000	65,000	62,000	62,000	-	-
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	56,000	60,000	114,000	122,000	85,000	167,000	193,000	9,000	-66,000	-8,000	-79,000	-89,000	-214,000	-207,000	-292,000	-78,000	65,000	60,000	115,000	74,000	82,000	47,000	114,000	48,000	291,000	48,000	111,000	173,000	134,000	83,000	107,000	53,000	42,000	77,000	92,000	40,000	36,000	82,000	145,000	32,000	73,000	74,000	110,000	20,000	26,000	41,000	73,000	18,000	26,000	51,000	59,000	23,000	-1,000	8,000	48,000	13,000	8,000	-3,000	13,000	19,000	-2,000	63,000	0	0
Ebitda	156,000	160,000	213,000	220,000	191,000	271,000	306,000	137,000	25,000	63,000	-5,000	-15,000	-137,000	-127,000	-211,000	2,000	146,000	145,000	198,000	154,000	166,000	128,000	193,000	131,000	383,000	140,000	202,000	264,000	222,000	170,000	193,000	134,000	129,000	155,000	168,000	119,000	121,000	173,000	228,000	127,000	164,000	155,000	195,000	108,000	116,000	129,000	162,000	104,000	113,000	126,000	131,000	94,000	74,000	76,000	114,000	83,000	79,000	66,000	78,000	84,000	60,000	125,000	-	-
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-3,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Profit	224,000	868,000	348,000	335,000	336,000	349,000	351,000	252,000	174,000	147,000	90,000	14,000	-30,000	-19,000	-84,000	132,000	242,000	208,000	259,000	234,000	228,000	225,000	269,000	257,000	253,000	238,000	286,000	270,000	226,000	230,000	263,000	237,000	236,000	220,000	263,000	232,000	229,000	240,000	278,000	235,000	233,000	211,000	268,000	189,000	207,000	203,000	239,000	186,000	199,000	186,000	198,000	158,000	172,000	148,000	183,000	160,000	154,000	129,000	158,000	139,000	173,000	217,000	0	0
Income Before Tax	9,000	101,000	95,000	105,000	59,000	63,000	312,000	-71,000	-102,000	258,000	6,000	-118,000	-272,000	-220,000	-330,000	-138,000	413,000	405,000	105,000	83,000	32,000	256,000	102,000	561,000	299,000	31,000	132,000	111,000	61,000	90,000	88,000	50,000	35,000	45,000	80,000	34,000	261,000	63,000	121,000	80,000	57,000	94,000	167,000	3,000	4,000	20,000	57,000	14,000	24,000	8,000	35,000	16,000	-1,000	46,000	19,000	24,000	-10,000	8,000	-73,000	25,000	-171,000	93,000	126,000	156,000
Income Tax Expense	-17,000	-33,000	27,000	47,000	-235,000	35,000	106,000	2,000	-73,000	138,000	15,000	186,000	-69,000	-59,000	-94,000	-35,000	92,000	109,000	19,000	20,000	-12,000	19,000	25,000	150,000	223,000	14,000	45,000	41,000	20,000	28,000	21,000	16,000	-2,000	20,000	40,000	12,000	79,000	30,000	46,000	24,000	27,000	39,000	55,000	-5,000	-11,000	-3,000	18,000	4,000	-28,000	-5,000	-1,000	6,000	3,000	17,000	6,000	17,000	3,000	2,000	-25,000	12,000	-28,000	11,000	48,000	59,000
Interest Expense	42,000	41,000	31,000	33,000	34,000	38,000	38,000	40,000	40,000	40,000	42,000	41,000	41,000	35,000	35,000	17,000	17,000	19,000	20,000	19,000	19,000	19,000	19,000	19,000	19,000	20,000	20,000	21,000	19,000	20,000	20,000	17,000	17,000	17,000	17,000	17,000	17,000	17,000	18,000	19,000	17,000	15,000	16,000	17,000	17,000	18,000	17,000	18,000	15,000	15,000	14,000	13,000	14,000	16,000	12,000	12,000	14,000	15,000	11,000	16,000	24,000	23,000	9,000	19,000
Interest Income	18,000	41,000	15,000	43,000	19,000	72,000	9,000	6,000	11,000	39,000	47,000	33,000	2,000	18,000	6,000	11,000	7,000	6,000	6,000	26,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Minority Interest	0	0	0	0	0	0	0	0	0	0	3,000	3,000	3,000	3,000	3,000	3,000	5,000	5,000	5,000	6,000	7,000	6,000	6,000	6,000	15,000	1,000	-9,000	6,000	13,000	-12,000	4,000	0	4,000	0	0	0	1,000	1,000	1,000	0	-2,000	0	0	0	-1,000	0	0	0	-2,000	-1,000	1,000	0	0	0	0	0	-1,000	1,000	0	0	2,000	-2,000	2,000	0
Net Income	26,000	134,000	68,000	58,000	294,000	28,000	206,000	-73,000	-29,000	120,000	-9,000	-304,000	-203,000	-161,000	-236,000	-103,000	321,000	296,000	86,000	63,000	44,000	237,000	77,000	411,000	76,000	16,000	87,000	70,000	41,000	62,000	67,000	34,000	37,000	25,000	40,000	22,000	182,000	32,000	74,000	56,000	32,000	55,000	112,000	8,000	16,000	23,000	39,000	10,000	52,000	14,000	37,000	10,000	6,000	30,000	25,000	5,000	-12,000	5,000	-50,000	12,000	-140,000	137,000	76,000	97,000
Net Income Applicable To Common Shares	0	68,000	68,000	58,000	294,000	28,000	206,000	-73,000	-29,000	120,000	-9,000	-304,000	-203,000	-161,000	-236,000	-103,000	321,000	296,000	86,000	63,000	44,000	237,000	77,000	411,000	76,000	16,000	87,000	70,000	41,000	62,000	67,000	34,000	37,000	25,000	40,000	22,000	182,000	32,000	74,000	56,000	32,000	55,000	112,000	8,000	16,000	23,000	39,000	10,000	52,000	14,000	37,000	10,000	6,000	29,000	20,000	7,000	-5,000	5,000	-15,000	15,000	30,000	82,000	76,000	97,000
Net Income From Continuing Ops	26,000	68,000	68,000	58,000	294,000	28,000	206,000	-73,000	-29,000	120,000	-9,000	-304,000	-203,000	-161,000	-236,000	-103,000	321,000	296,000	86,000	63,000	44,000	237,000	77,000	411,000	76,000	17,000	87,000	70,000	41,000	62,000	67,000	34,000	37,000	25,000	40,000	22,000	182,000	33,000	75,000	56,000	262,000	55,000	112,000	8,000	-351,000	23,000	39,000	376,000	52,000	13,000	36,000	10,000	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income	-22,000	-41,000	-31,000	-33,000	-34,000	-24,000	-29,000	-34,000	-33,000	-41,000	-10,000	-41,000	-41,000	-35,000	-28,000	-6,000	-10,000	-12,000	-14,000	4,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Non Operating Income Net Other	0	0	24,000	64,000	51,000	-35,000	187,000	-50,000	-23,000	291,000	120,000	78,000	-10,000	-17,000	12,000	-123,000	385,000	393,000	45,000	79,000	-29,000	234,000	14,000	501,000	258,000	-6,000	47,000	52,000	20,000	41,000	6,000	-1,000	-10,000	-21,000	-17,000	-8,000	236,000	8,000	32,000	58,000	1,000	54,000	94,000	9,000	-14,000	3,000	-4,000	14,000	4,000	-15,000	2,000	9,000	0	0	0	0	0	0	0	0	0	0	-	-
Non Recurring	0	0	5,000	2,000	19,000	9,000	7,000	3,000	6,000	0	2,000	0	10,000	0	49,000	3,000	5,000	9,000	1,000	3,000	4,000	21,000	0	0	0	0	0	0	0	0	0	0	0	5,000	0	0	10,000	0	7,000	0	11,000	0	3,000	8,000	0	0	0	0	4,000	1,000	1,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Operating Income	56,000	737,000	779,000	122,000	85,000	167,000	193,000	9,000	-62,000	7,000	-70,000	-155,000	-211,000	-168,000	-258,000	5,000	50,000	40,000	81,000	26,000	84,000	62,000	107,000	79,000	60,000	57,000	105,000	80,000	60,000	69,000	102,000	68,000	62,000	88,000	114,000	59,000	39,000	72,000	115,000	53,000	55,000	53,000	108,000	17,000	39,000	40,000	73,000	7,000	28,000	53,000	55,000	17,000	16,000	12,000	59,000	21,000	10,000	-5,000	24,000	21,000	14,000	100,000	141,000	109,000
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	1,633,000	885,000	1,598,000	1,604,000	1,527,000	1,396,000	1,307,000	1,257,000	1,109,000	844,000	733,000	593,000	635,000	567,000	508,000	988,000	1,225,000	1,175,000	1,208,000	1,215,000	1,054,000	1,012,000	1,026,000	1,030,000	1,124,000	1,062,000	1,090,000	1,107,000	1,027,000	1,019,000	1,063,000	1,021,000	1,047,000	965,000	998,000	995,000	1,040,000	1,032,000	1,043,000	1,021,000	1,036,000	973,000	984,000	958,000	961,000	937,000	941,000	951,000	962,000	844,000	881,000	858,000	902,000	867,000	830,000	820,000	879,000	811,000	823,000	768,000	872,000	842,000	0	0
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Reconciled Depreciation	114,000	100,000	99,000	98,000	106,000	104,000	113,000	128,000	98,000	71,000	80,000	74,000	85,000	87,000	81,000	88,000	116,000	85,000	83,000	80,000	84,000	81,000	79,000	83,000	92,000	92,000	91,000	91,000	88,000	87,000	86,000	81,000	87,000	78,000	76,000	79,000	85,000	91,000	83,000	95,000	91,000	81,000	85,000	88,000	90,000	88,000	89,000	86,000	87,000	75,000	72,000	71,000	75,000	68,000	66,000	70,000	71,000	69,000	65,000	65,000	62,000	62,000	-	-
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	7,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Selling General Administrative	181,000	131,000	142,000	161,000	169,000	108,000	76,000	111,000	116,000	69,000	284,000	95,000	104,000	69,000	101,000	47,000	111,000	83,000	95,000	128,000	60,000	82,000	83,000	95,000	101,000	89,000	90,000	99,000	78,000	74,000	75,000	88,000	87,000	54,000	73,000	94,000	105,000	77,000	80,000	87,000	87,000	77,000	75,000	84,000	78,000	75,000	70,000	93,000	84,000	58,000	71,000	70,000	81,000	68,000	58,000	69,000	73,000	66,000	69,000	53,000	77,000	55,000	69,000	69,000
Tax Provision	-17,000	33,000	27,000	47,000	-235,000	35,000	106,000	2,000	-73,000	138,000	15,000	186,000	-69,000	-59,000	-94,000	-35,000	92,000	109,000	19,000	20,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Total Operating Expenses	168,000	131,000	241,000	259,000	275,000	204,000	175,000	230,000	207,000	140,000	160,000	169,000	181,000	149,000	174,000	127,000	192,000	168,000	178,000	208,000	144,000	163,000	162,000	178,000	193,000	181,000	181,000	190,000	166,000	161,000	161,000	169,000	174,000	132,000	149,000	173,000	190,000	168,000	163,000	182,000	178,000	158,000	160,000	172,000	168,000	163,000	166,000	179,000	171,000	133,000	143,000	141,000	156,000	136,000	124,000	139,000	144,000	134,000	134,000	118,000	159,000	117,000	0	0
Total Other Income Expense Net	-47,000	-636,000	19,000	-17,000	-26,000	-104,000	119,000	-80,000	-29,000	291,000	118,000	78,000	-20,000	-17,000	-43,000	-126,000	380,000	384,000	44,000	76,000	-33,000	213,000	14,000	501,000	258,000	-8,000	45,000	-43,000	6,000	39,000	4,000	-2,000	-10,000	-28,000	-19,000	-10,000	239,000	5,000	21,000	44,000	19,000	52,000	70,000	-2,000	-24,000	-8,000	1,000	20,000	11,000	-36,000	-21,000	7,000	-3,000	50,000	-28,000	15,000	-6,000	28,000	-86,000	20,000	-161,000	16,000	0	0
Total Revenue	1,689,000	1,622,000	1,705,000	1,680,000	1,588,000	1,541,000	1,483,000	1,279,000	1,076,000	851,000	663,000	438,000	424,000	399,000	250,000	993,000	1,275,000	1,215,000	1,289,000	1,241,000	1,138,000	1,074,000	1,133,000	1,109,000	1,184,000	1,119,000	1,195,000	1,187,000	1,087,000	1,088,000	1,165,000	1,089,000	1,109,000	1,053,000	1,112,000	1,054,000	1,079,000	1,104,000	1,158,000	1,074,000	1,091,000	1,026,000	1,092,000	975,000	1,000,000	977,000	1,014,000	958,000	990,000	897,000	936,000	875,000	918,000	879,000	889,000	841,000	889,000	806,000	847,000	789,000	886,000	942,000	1,042,000	967,000

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

Gross Profit (+$)
totalRevenue	6,722,000
Cost of Revenue	-5,747,000
Gross Profit	975,000	975,000

Operating Income (+$)
Gross Profit	975,000
Operating Expense	-573,000
Operating Income	402,000	402,000

Operating Expense (+$)
Research Development	0
Selling General Administrative	603,000
Selling And Marketing Expenses	0
Operating Expense	573,000	603,000

Net Interest Income (+$)
Interest Income	71,000
Interest Expense	-140,000
Other Finance Cost	-1,000
Net Interest Income	-68,000

Pretax Income (+$)
Operating Income	402,000
Net Interest Income	-68,000
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	310,000	494,000 EBIT - interestExpense = 262,000 310,000 360,000
Interest Expense	140,000
Earnings Before Interest and Taxes (EBIT)	402,000	450,000
Earnings Before Interest and Taxes (EBITDA)	799,000

After tax Income (+$)
Income Before Tax	310,000
Tax Provision	--128,000
Net Income From Continuing Ops	488,000	438,000
Net Income	220,000
Net Income Applicable To Common Shares	0

Non-recurring Events
Discontinued Operations	0
Extraordinary Items	0
Effect of Accounting Charges	0
Other Items	0
Non Recurring	0
Other Operating Expenses	6,320,000
Total Other Income/Expenses Net	-92,000	68,000

Technical Analysis of Hyatt
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 Hyatt. The general trend of Hyatt is BULLISH with 57.1% 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 Hyatt'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 (57.1%)		Bearish trend (-57.1%)
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 Hyatt Hotels Corporation.

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

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

The bullish price targets are: 152.85 < 161.50.

The bearish price targets are: 126.81 > 126.38 > 114.65.

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Hyatt Hotels Corporation 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 Hyatt Hotels Corporation. The current mas is .

The long score for the Moving Averages is 11/14.
The longshort score for the Moving Averages is 8/(-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 higher than the MA 100. +1
MA 20 > MA 200: The MA 20 is higher than the MA 200. +1
MA 50 trending up: The MA 50 is trending up. +1
Close < MA 50: The price is below the MA 50. -1
MA 50 > MA 100: The MA 50 is higher 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 above 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.

Hyatt Hotels Corporation 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 Hyatt Hotels Corporation. The current macd is -1.40930576.

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

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

Hyatt Hotels Corporation 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 Hyatt Hotels Corporation. The current adx is 27.46.

The long score for the Directional Movement Index (DMI) is 0/7.
The longshort score for the Directional Movement Index (DMI) is -4/(-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 Hyatt shares, leading to potential downward momentum in its price. -1
PLUS_ID < MINUS_DI && ADX > 25 && ADX trending up: The ADX is above 25 and indicates a strong bearish trend. The ADX is trending up, so the bearish trend is strengthening.

Hyatt Hotels Corporation 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 Hyatt Hotels Corporation. The current sar is 150.67.

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

Hyatt Hotels Corporation 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 Hyatt Hotels Corporation. The current rsi is 43.77. The current phase is Correction in bull market.

The long score for the Relative Strength Index (RSI) is 1/13.
The longshort score for the Relative Strength Index (RSI) is -2/(-13 +13).

Correction in bull market: Moderate price decline, potential pause in the uptrend. Reassess the market, wait for signs of stabilization.
Trending up: The RSI is trending up. +1

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

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

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

Original usage

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

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

How you can use RSI (Divergence)

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

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

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

Source: Tradingview.com

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

Use tradingview to add indicators

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

Tradingview

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

View tool on Tradingview.com

RSI divergence

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

There are four types of divergences:

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

Regular bullish divergence

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

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

Source: Tradingview.com

Regular bearish divergence

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

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

Source: Tradingview.com

Hidden bullish divergence

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

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

Source: Tradingview.com

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

Hidden bearish divergence

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

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

Source: Tradingview.com

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

Hyatt Hotels Corporation 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 Hyatt Hotels Corporation. The current phase is Correction in bull market.

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

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

Hyatt Hotels Corporation 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 Hyatt Hotels Corporation. The current cci is -96.95806136.

Hyatt Hotels Corporation 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 Hyatt Hotels Corporation. The current cmo is -17.16755799.

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

Hyatt Hotels Corporation 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 Hyatt Hotels Corporation. The current willr is -68.00554017.

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

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

Hyatt Hotels Corporation 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 Hyatt Hotels Corporation.

Hyatt Hotels Corporation 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 Hyatt Hotels Corporation. The current atr is 3.02320126.

Hyatt Hotels Corporation 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 Hyatt Hotels Corporation. The current obv is 15,677,038.

Hyatt Hotels Corporation 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 Hyatt Hotels Corporation. The current mfi is 36.82.

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

Hyatt Hotels Corporation Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for Hyatt Hotels Corporation.

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

6.3. Candlestick Patterns

Hyatt Hotels Corporation Daily Candlestick Chart

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of Hyatt Hotels Corporation based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	43.772
Ma 20	Greater than	Ma 50	154.262
Ma 50	Greater than	Ma 100	151.400
Ma 100	Greater than	Ma 200	139.581
Open	Greater than	Close	146.470
Total			3/5 (60.0%)

Create your own Symbol Scanner

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Quick analysis of Hyatt (30 sec.)

What can you expect buying and holding a share of Hyatt? (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 Hyatt (5 min.)

$149.81

$33.62

$48.74 - $288.18

$82.36 - $321.80

2. Growth of Hyatt (5 min.)

Is Hyatt growing?

How much money is Hyatt making?

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

3. Financial Health of Hyatt (5 min.)

4. Comparing to competitors in the Lodging industry (5 min.)

Industry Rankings (Lodging)

What can you expect buying and holding a share of Hyatt? (5 min.)

What can you expect buying and holding a share of Hyatt?

Speculation

Investing

How much money are you going to get?

When do you get the money?

How sure are you?

Linear %

Fundamentals of Hyatt

About Hyatt Hotels Corporation

Financial Health

Valuation

1.1. Profitability of Hyatt Hotels Corporation.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

Compared to industry (Lodging)

1.1.2. Return on Assets

Trends

Compared to industry (Lodging)

1.1.3. Return on Equity

Trends

Compared to industry (Lodging)

1.2. Operating Efficiency of Hyatt Hotels Corporation.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

Compared to industry (Lodging)

1.2.2. Operating Ratio

Trends

Compared to industry (Lodging)

1.3. Liquidity of Hyatt Hotels Corporation.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Lodging)

1.3.2. Quick Ratio

Trends

Compared to industry (Lodging)

1.4. Solvency of Hyatt Hotels Corporation.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

Compared to industry (Lodging)

1.4.2. Debt to Equity Ratio

Trends

Compared to industry (Lodging)

2. Market Valuation of Hyatt Hotels Corporation

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Lodging)

Hyatt Hotels Corporation
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