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Companhia de Saneamento Básico do Estado de São Paulo - SABESP










Financial Health of Sabesp




Comparing to competitors in the Utilities-Regulated Water industry




  Industry Rankings  


Companhia de Saneamento Básico do Estado de São Paulo - SABESP
Buy, Hold or Sell?

Should you buy, hold or sell Sabesp?

I guess you are interested in Companhia de Saneamento Básico do Estado de São Paulo - SABESP. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

Let's analyse Sabesp

Let's start. I'm going to help you getting a better view of Companhia de Saneamento Básico do Estado de São Paulo - SABESP. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

  1. Company's Financial Health
    A deep dive into the books. How are the numbers doing? Is Companhia de Saneamento Básico do Estado de São Paulo - SABESP even making a profit? Is the company skyrocketing? Or is it sinking like the Titanic. The trend is your friend.
  2. Market Valuation
    Finally, you now have an insight of how Companhia de Saneamento Básico do Estado de São Paulo - SABESP is doing in the market. If the company is worth buying. The latest step is to find out how other investors value Companhia de Saneamento Básico do Estado de São Paulo - SABESP. The closing price on 2022-12-02 was R$60.77 per share. Is the company over- or underpriced?
  3. Key Performance Indicators
    A total overlook on how the company is doing. Based on the (trends in) the key performance indicators.
Companhia de Saneamento Básico do Estado de São Paulo - SABESP Daily Candlestick Chart

Summary

Financial Health

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

1.1. Profitability of Companhia de Saneamento Básico do Estado de São Paulo - SABESP.

1.1. Profitability
1.1.1. Net Profit Margin

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

  • Above 10% is considered healthy but always compare Sabesp to the Utilities-Regulated Water industry mean.
  • A Net Profit Margin of 8.0% means that R$0.08 for each R$1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Companhia de Saneamento Básico do Estado de São Paulo - SABESP:

  • The MRQ is 8.0%. The company is making a profit. +1
  • The TTM is 12.1%. The company is making a huge profit. +2
Trends
Current periodCompared to+/- 
MRQ8.0%TTM12.1%-4.1%
TTM12.1%YOY16.2%-4.2%
TTM12.1%5Y14.7%-2.6%
5Y14.7%10Y14.6%+0.1%
Compared to industry (Utilities-Regulated Water)
PeriodCompanyIndustry (mean)+/- 
MRQ8.0%11.5%-3.5%
TTM12.1%9.7%+2.4%
YOY16.2%11.6%+4.6%
5Y14.7%10.5%+4.2%
10Y14.6%11.7%+2.9%
1.1.2. Return on Assets

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

  • Above 5% is considered healthy but always compare Sabesp to the Utilities-Regulated Water industry mean.
  • 0.8% Return on Assets means that Sabesp generated R$0.01 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Companhia de Saneamento Básico do Estado de São Paulo - SABESP:

  • The MRQ is 0.8%. Using its assets, the company is inefficient in making profit. -1
  • The TTM is 1.1%. Using its assets, the company is less efficient in making profit.
Trends
Current periodCompared to+/- 
MRQ0.8%TTM1.1%-0.4%
TTM1.1%YOY1.3%-0.1%
TTM1.1%5Y1.3%-0.2%
5Y1.3%10Y1.4%0.0%
Compared to industry (Utilities-Regulated Water)
PeriodCompanyIndustry (mean)+/- 
MRQ0.8%0.7%+0.1%
TTM1.1%0.8%+0.3%
YOY1.3%1.0%+0.3%
5Y1.3%1.0%+0.3%
10Y1.4%0.9%+0.5%
1.1.3. Return on Equity

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

  • Above 15%-20% is considered healthy but always compare Sabesp to the Utilities-Regulated Water industry mean.
  • 1.6% Return on Equity means Sabesp generated R$0.02 for each R$1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Companhia de Saneamento Básico do Estado de São Paulo - SABESP:

  • The MRQ is 1.6%. Using its investors money, the company is inefficient in making profit. -1
  • The TTM is 2.4%. Using its investors money, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ1.6%TTM2.4%-0.8%
TTM2.4%YOY2.7%-0.3%
TTM2.4%5Y2.9%-0.5%
5Y2.9%10Y3.1%-0.2%
Compared to industry (Utilities-Regulated Water)
PeriodCompanyIndustry (mean)+/- 
MRQ1.6%2.1%-0.5%
TTM2.4%1.9%+0.5%
YOY2.7%2.6%+0.1%
5Y2.9%2.3%+0.6%
10Y3.1%2.4%+0.7%

1.2. Operating Efficiency of Companhia de Saneamento Básico do Estado de São Paulo - SABESP.

1.2. Operating Efficiency
1.2.1. Operating Margin

Measures how efficient Sabesp is operating .

  • Measures how much profit Sabesp makes for each R$1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
  • Above 15% is considered healthy but always compare Sabesp to the Utilities-Regulated Water industry mean.
  • An Operating Margin of 6.2% means the company generated R$0.06  for each R$1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Companhia de Saneamento Básico do Estado de São Paulo - SABESP:

  • The MRQ is 6.2%. The company is operating less efficient.
  • The TTM is 16.3%. The company is operating efficient. +1
Trends
Current periodCompared to+/- 
MRQ6.2%TTM16.3%-10.0%
TTM16.3%YOY30.4%-14.1%
TTM16.3%5Y27.9%-11.6%
5Y27.9%10Y15.8%+12.1%
Compared to industry (Utilities-Regulated Water)
PeriodCompanyIndustry (mean)+/- 
MRQ6.2%18.7%-12.5%
TTM16.3%15.6%+0.7%
YOY30.4%20.4%+10.0%
5Y27.9%15.5%+12.4%
10Y15.8%15.0%+0.8%
1.2.2. Operating Ratio

Measures how efficient Sabesp is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Utilities-Regulated Water industry mean).
  • An Operation Ratio of 0.83 means that the operating costs are R$0.83 for each R$1 in net sales.

Let's take a look of the Operating Ratio trends of Companhia de Saneamento Básico do Estado de São Paulo - SABESP:

  • The MRQ is 0.828. The company is less efficient in keeping operating costs low.
  • The TTM is 0.797. The company is efficient in keeping operating costs low. +1
Trends
Current periodCompared to+/- 
MRQ0.828TTM0.797+0.030
TTM0.797YOY1.568-0.771
TTM0.7975Y1.286-0.489
5Y1.28610Y0.980+0.305
Compared to industry (Utilities-Regulated Water)
PeriodCompanyIndustry (mean)+/- 
MRQ0.8280.932-0.104
TTM0.7970.883-0.086
YOY1.5680.941+0.627
5Y1.2860.879+0.407
10Y0.9800.851+0.129

1.3. Liquidity of Companhia de Saneamento Básico do Estado de São Paulo - SABESP.

1.3. Liquidity
1.3.1. Current Ratio

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

  • Above 1.5 is considered healthy (always compare to Utilities-Regulated Water industry mean).
  • A Current Ratio of 1.30 means the company has R$1.30 in assets for each R$1 in short-term debts.

Let's take a look of the Current Ratio trends of Companhia de Saneamento Básico do Estado de São Paulo - SABESP:

  • The MRQ is 1.300. The company is just able to pay all its short-term debts.
  • The TTM is 1.267. The company is just able to pay all its short-term debts.
Trends
Current periodCompared to+/- 
MRQ1.300TTM1.267+0.033
TTM1.267YOY1.033+0.235
TTM1.2675Y1.084+0.183
5Y1.08410Y0.609+0.475
Compared to industry (Utilities-Regulated Water)
PeriodCompanyIndustry (mean)+/- 
MRQ1.3001.140+0.160
TTM1.2671.117+0.150
YOY1.0331.095-0.062
5Y1.0841.206-0.122
10Y0.6091.029-0.420
1.3.2. Quick Ratio

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

  • Above 1 is considered healthy but always compare Sabesp to the Utilities-Regulated Water industry mean.
  • A Quick Ratio of 1.66 means the company can pay off R$1.66 for each R$1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Companhia de Saneamento Básico do Estado de São Paulo - SABESP:

  • The MRQ is 1.661. The company is very able to pay all its short-term debts with the most liquid assets. +2
  • The TTM is 1.657. The company is very able to pay all its short-term debts with the most liquid assets. +2
Trends
Current periodCompared to+/- 
MRQ1.661TTM1.657+0.004
TTM1.657YOY1.447+0.210
TTM1.6575Y0.968+0.689
5Y0.96810Y0.689+0.279
Compared to industry (Utilities-Regulated Water)
PeriodCompanyIndustry (mean)+/- 
MRQ1.6610.609+1.052
TTM1.6570.697+0.960
YOY1.4470.763+0.684
5Y0.9680.675+0.293
10Y0.6890.682+0.007

1.4. Solvency of Companhia de Saneamento Básico do Estado de São Paulo - SABESP.

1.3. Liquidity
1.4.1. Debt to Asset Ratio

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

  • Below 1 (100%) is considered healthy but always compare Sabesp to Utilities-Regulated Water industry mean.
  • A Debt to Asset Ratio of 0.51 means that Sabesp assets are financed with 51.3% credit (debt) and the remaining percentage (100% - 51.3%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of Companhia de Saneamento Básico do Estado de São Paulo - SABESP:

  • The MRQ is 0.513. The company is able to pay all its debts by selling its assets. +1
  • The TTM is 0.526. The company is able to pay all its debts by selling its assets. +1
Trends
Current periodCompared to+/- 
MRQ0.513TTM0.526-0.013
TTM0.526YOY0.541-0.015
TTM0.5265Y0.542-0.016
5Y0.54210Y0.551-0.009
Compared to industry (Utilities-Regulated Water)
PeriodCompanyIndustry (mean)+/- 
MRQ0.5130.606-0.093
TTM0.5260.600-0.074
YOY0.5410.601-0.060
5Y0.5420.572-0.030
10Y0.5510.554-0.003
1.4.2. Debt to Equity Ratio

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

  • Below 2 is considered healthy but always compare Sabesp to the Utilities-Regulated Water industry mean.
  • A Debt to Equity ratio of 105.3% means that company has R$1.05 debt for each R$1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Companhia de Saneamento Básico do Estado de São Paulo - SABESP:

  • The MRQ is 1.053. The company is able to pay all its debts with equity. +1
  • The TTM is 1.110. The company is able to pay all its debts with equity. +1
Trends
Current periodCompared to+/- 
MRQ1.053TTM1.110-0.056
TTM1.110YOY1.180-0.070
TTM1.1105Y1.184-0.074
5Y1.18410Y1.229-0.046
Compared to industry (Utilities-Regulated Water)
PeriodCompanyIndustry (mean)+/- 
MRQ1.0531.678-0.625
TTM1.1101.663-0.553
YOY1.1801.576-0.396
5Y1.1841.630-0.446
10Y1.2291.416-0.187

2. Market Valuation of Companhia de Saneamento Básico do Estado de São Paulo - SABESP

2. Earnings Per Share
2.1. Price to Earnings Ratio

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

  • Above 15 is considered overpriced but always compare Sabesp to the Utilities-Regulated Water industry mean.
  • A PE ratio of 68.23 means the investor is paying R$68.23 for every R$1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Companhia de Saneamento Básico do Estado de São Paulo - SABESP:

  • The EOD is 98.322. Neutral. Compare to industry.
  • The MRQ is 68.228. Neutral. Compare to industry.
  • The TTM is 51.581. Good. +1
Trends
Current periodCompared to+/- 
EOD98.322MRQ68.228+30.094
MRQ68.228TTM51.581+16.647
TTM51.581YOY50.357+1.224
TTM51.5815Y44.459+7.121
5Y44.45910Y56.697-12.238
Compared to industry (Utilities-Regulated Water)
PeriodCompanyIndustry (mean)+/- 
EOD98.32276.470+21.852
MRQ68.22867.236+0.992
TTM51.58150.271+1.310
YOY50.35757.344-6.987
5Y44.45945.160-0.701
10Y56.69733.962+22.735
2.2. Price Earnings to Growth Ratio

Measures the predicted future growth of Sabesp.

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

Let's take a look of the Price Earnings to Growth Ratio trends of Companhia de Saneamento Básico do Estado de São Paulo - SABESP:

  • The MRQ is -52.115. Very Bad. -2
  • The TTM is 54.729. Seems overpriced? -1
Trends
Current periodCompared to+/- 
MRQ-52.115TTM54.729-106.844
TTM54.729YOY204.315-149.586
TTM54.7295Y-4.925+59.654
5Y-4.92510Y25.881-30.806
Compared to industry (Utilities-Regulated Water)
PeriodCompanyIndustry (mean)+/- 
MRQ-52.1150.722-52.837
TTM54.7290.026+54.703
YOY204.3150.188+204.127
5Y-4.9250.204-5.129
10Y25.8810.204+25.677

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

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

  • At or below 1 is considered healthy (always compare to Utilities-Regulated Water industry mean).
  • A PB ratio of 1.10 means the investor is paying R$1.10 for each R$1 in book value.

Let's take a look of the Price to Book Ratio trends of Companhia de Saneamento Básico do Estado de São Paulo - SABESP:

  • The EOD is 1.581. Good. +1
  • The MRQ is 1.097. Good. +1
  • The TTM is 1.133. Good. +1
Trends
Current periodCompared to+/- 
EOD1.581MRQ1.097+0.484
MRQ1.097TTM1.133-0.036
TTM1.133YOY1.264-0.131
TTM1.1335Y1.299-0.166
5Y1.29910Y1.522-0.223
Compared to industry (Utilities-Regulated Water)
PeriodCompanyIndustry (mean)+/- 
EOD1.5811.478+0.103
MRQ1.0971.397-0.300
TTM1.1331.644-0.511
YOY1.2641.302-0.038
5Y1.2991.298+0.001
10Y1.5221.025+0.497
2. Total Gains per Share

3. Summary

3.1. Key Performance Indicators

The key performance indicators of Companhia de Saneamento Básico do Estado de São Paulo - SABESP compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-5 Year+/-10 Year+/-
Book Value Change Per Share--0.5370.818-34%1.010-47%0.725-26%0.557-4%
Book Value Growth--0.8110.8120%0.8140%0.8130%0.8120%
Book Value Per Share--38.44037.168+3%33.583+14%31.408+22%25.724+49%
Book Value Per Share Growth--0.0140.022-36%0.030-53%0.023-40%0.021-34%
Current Ratio--1.3001.267+3%1.033+26%1.084+20%0.609+114%
Debt To Asset Ratio--0.5130.526-2%0.541-5%0.542-5%0.551-7%
Debt To Equity Ratio--1.0531.110-5%1.180-11%1.184-11%1.229-14%
Dividend Per Share--0.8830.627+41%0.837+5%0.739+19%0.605+46%
Dividend Per Share Growth---0.145-100%-0.6250%-1728.5490%-914.9590%
Eps--0.6180.890-31%0.923-33%0.907-32%0.783-21%
Eps Growth---1.309-0.342-74%0.070-1972%-0.150-89%-0.174-87%
Gross Profit Margin--0.4470.709-37%0.935-52%0.929-52%0.939-52%
Net Profit Margin--0.0800.121-34%0.162-51%0.147-46%0.146-45%
Operating Margin--0.0620.163-62%0.304-79%0.279-78%0.158-60%
Operating Ratio--0.8280.797+4%1.568-47%1.286-36%0.980-16%
Pb Ratio1.581+31%1.0971.133-3%1.264-13%1.299-16%1.522-28%
Pe Ratio98.322+31%68.22851.581+32%50.357+35%44.459+53%56.697+20%
Peg Ratio---52.11554.729-195%204.315-126%-4.925-91%25.881-301%
Price Per Share60.770+31%42.17042.158+0%42.2550%40.744+3%36.976+14%
Price To Total Gains Ratio42.805+31%29.70431.800-7%25.537+16%36.338-18%68.755-57%
Profit Growth--55.71074.268-25%82.161-32%69.853-20%73.334-24%
Quick Ratio--1.6611.657+0%1.447+15%0.968+72%0.689+141%
Return On Assets--0.0080.011-31%0.013-38%0.013-42%0.014-44%
Return On Equity--0.0160.024-33%0.027-41%0.029-45%0.031-48%
Revenue Growth--0.8230.814+1%0.821+0%0.811+1%0.811+1%
Total Gains Per Share--1.4201.446-2%1.847-23%1.464-3%1.162+22%
Total Gains Per Share Growth---0.627-0.126-80%-0.240-62%-0.267-57%-1.596+154%
Usd Book Value--5039396546.8004872643133.400+3%4402678901.950+14%4117466154.760+22%3372379141.180+49%
Usd Book Value Change Per Share--0.1030.157-34%0.194-47%0.139-26%0.107-4%
Usd Book Value Per Share--7.3737.129+3%6.441+14%6.024+22%4.934+49%
Usd Dividend Per Share--0.1690.120+41%0.161+5%0.142+19%0.116+46%
Usd Eps--0.1190.171-31%0.177-33%0.174-32%0.150-21%
Usd Price Per Share11.656+31%8.0888.086+0%8.1050%7.815+3%7.092+14%
Usd Profit--81027444.400116708190.200-31%120978521.300-33%118847997.310-32%102691244.810-21%
Usd Revenue--1009903720.000975951044.250+3%738289986.000+37%792646901.970+27%689525286.730+46%
Usd Total Gains Per Share--0.2720.277-2%0.354-23%0.281-3%0.223+22%
 EOD+2 -3MRQTTM+14 -22YOY+16 -195Y+15 -2010Y+18 -17

3.2. Fundamental Score

Let's check the fundamental score of Companhia de Saneamento Básico do Estado de São Paulo - SABESP based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-1598.322
Price to Book Ratio (EOD)Between0-11.581
Net Profit Margin (MRQ)Greater than00.080
Operating Margin (MRQ)Greater than00.062
Quick Ratio (MRQ)Greater than11.661
Current Ratio (MRQ)Greater than11.300
Debt to Asset Ratio (MRQ)Less than10.513
Debt to Equity Ratio (MRQ)Less than11.053
Return on Equity (MRQ)Greater than0.150.016
Return on Assets (MRQ)Greater than0.050.008
Total5/10 (50.0%)

3.3. Technical Score

Let's check the technical score of Companhia de Saneamento Básico do Estado de São Paulo - SABESP based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5061.424
Ma 20Greater thanMa 5058.500
Ma 50Greater thanMa 10056.235
Ma 100Greater thanMa 20051.366
OpenGreater thanClose60.600
Total4/5 (80.0%)



Latest Balance Sheet

Balance Sheet of 2022-06-30. Currency in BRL. All numbers in thousands.

Summary
Total Assets53,953,038
Total Liabilities27,678,812
Total Stockholder Equity26,274,226
 As reported
Total Liabilities 27,678,812
Total Stockholder Equity+ 26,274,226
Total Assets = 53,953,038

Assets

Total Assets53,953,038
Total Current Assets6,209,715
Long-term Assets6,209,715
Total Current Assets
Cash And Cash Equivalents 643,569
Short-term Investments 1,967,901
Net Receivables 3,355,217
Inventory 122,879
Other Current Assets 120,149
Total Current Assets  (as reported)6,209,715
Total Current Assets  (calculated)6,209,715
+/-0
Long-term Assets
Property Plant Equipment 297,228
Long Term Investments 86,991
Intangible Assets 37,067,139
Other Assets 10,291,965
Long-term Assets  (as reported)47,743,323
Long-term Assets  (calculated)47,743,323
+/-0

Liabilities & Shareholders' Equity

Total Current Liabilities4,775,714
Long-term Liabilities22,903,098
Total Stockholder Equity26,274,226
Total Current Liabilities
Short-term Debt 1,789,406
Short Long Term Debt 1,789,406
Accounts payable 311,737
Other Current Liabilities 2,473,016
Total Current Liabilities  (as reported)4,775,714
Total Current Liabilities  (calculated)6,363,565
+/- 1,587,851
Long-term Liabilities
Long term Debt Total 15,937,198
Other Liabilities 6,965,900
Long-term Liabilities  (as reported)22,903,098
Long-term Liabilities  (calculated)22,903,098
+/-0
Total Stockholder Equity
Common Stock15,000,000
Retained Earnings 1,397,997
Accumulated Other Comprehensive Income 9,876,229
Total Stockholder Equity (as reported)26,274,226
Total Stockholder Equity (calculated)26,274,226
+/-0
Other
Capital Stock15,000,000
Cash And Equivalents561,220
Cash and Short Term Investments 2,611,470
Common Stock Shares Outstanding 681,384
Liabilities and Stockholders Equity 53,953,038
Net Debt 17,083,035
Net Invested Capital 44,000,830
Net Tangible Assets -10,708,264
Net Working Capital 1,434,001
Short Long Term Debt Total 17,726,604



Balance Sheet

Currency in BRL. All numbers in thousands.

 Trend2022-06-302022-03-312021-12-312021-09-302021-06-302021-03-312020-12-312020-09-302020-06-302020-03-312019-12-312019-09-302019-06-302019-03-312018-12-312018-09-302018-06-302018-03-312017-12-312017-09-302017-06-302017-03-312016-12-312016-09-302016-06-302016-03-312015-12-312015-09-302015-06-302015-03-312014-12-312014-09-302014-06-302014-03-312013-12-312013-09-302013-06-302013-03-312012-12-312012-09-302012-06-302012-03-312011-12-312011-09-302011-06-302011-03-312010-12-312010-09-302010-06-302010-03-312009-12-312009-09-302009-06-302009-03-312008-12-312008-09-302008-06-302008-03-312007-12-312007-09-302007-06-302007-03-312006-12-312006-09-302006-06-302006-03-312005-12-312005-09-302005-06-302005-03-312004-12-312004-09-302004-06-302004-03-312003-12-312003-06-302002-12-312002-06-302001-12-312001-06-302000-12-312000-06-30
> Total Assets 
15,298,855
15,192,145
15,623,097
15,917,884
16,475,461
16,331,937
16,861,065
16,530,670
16,568,612
16,441,524
16,699,251
16,783,808
17,265,341
17,797,010
17,256,691
17,435,166
17,875,727
17,716,234
17,957,436
18,093,711
18,263,524
18,212,995
18,338,266
18,663,376
18,590,181
18,702,069
19,537,510
20,522,990
20,762,026
20,826,892
21,039,782
21,565,203
21,997,035
22,879,326
23,539,694
23,350,584
24,117,337
23,793,066
24,548,478
25,214,984
25,392,325
25,344,935
25,953,815
26,675,793
0
26,983,475
27,560,792
28,274,294
28,790,511
28,983,529
29,760,013
30,355,440
31,612,765
31,120,003
32,456,526
33,706,614
33,973,592
34,417,220
35,290,512
36,745,034
37,298,458
37,136,341
38,373,427
39,546,444
40,685,614
40,970,555
42,246,075
43,565,118
43,313,455
43,984,577
45,838,049
46,457,800
46,967,744
48,739,402
47,786,228
50,418,636
50,906,743
50,921,444
53,076,356
53,165,485
54,094,546
53,953,038
53,953,03854,094,54653,165,48553,076,35650,921,44450,906,74350,418,63647,786,22848,739,40246,967,74446,457,80045,838,04943,984,57743,313,45543,565,11842,246,07540,970,55540,685,61439,546,44438,373,42737,136,34137,298,45836,745,03435,290,51234,417,22033,973,59233,706,61432,456,52631,120,00331,612,76530,355,44029,760,01328,983,52928,790,51128,274,29427,560,79226,983,475026,675,79325,953,81525,344,93525,392,32525,214,98424,548,47823,793,06624,117,33723,350,58423,539,69422,879,32621,997,03521,565,20321,039,78220,826,89220,762,02620,522,99019,537,51018,702,06918,590,18118,663,37618,338,26618,212,99518,263,52418,093,71117,957,43617,716,23417,875,72717,435,16617,256,69117,797,01017,265,34116,783,80816,699,25116,441,52416,568,61216,530,67016,861,06516,331,93716,475,46115,917,88415,623,09715,192,14515,298,855
   > Total Current Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,823,635
3,988,042
3,329,030
4,113,112
4,574,085
5,340,677
5,198,520
5,954,364
5,602,242
4,927,761
5,227,461
5,120,870
4,896,138
5,158,498
5,981,001
4,524,996
6,440,838
6,279,873
5,661,267
7,061,474
6,502,998
7,000,002
6,209,715
6,209,7157,000,0026,502,9987,061,4745,661,2676,279,8736,440,8384,524,9965,981,0015,158,4984,896,1385,120,8705,227,4614,927,7615,602,2425,954,3645,198,5205,340,6774,574,0854,113,1123,329,0303,988,0423,823,63500000000000000000000000000000000000000000000000000000000000
       Cash And Cash Equivalents 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,886,221
1,983,822
1,367,605
2,101,000
2,283,047
2,963,862
2,832,735
3,619,253
3,029,191
2,205,083
2,663,892
2,500,660
2,253,210
2,221,779
3,222,016
44,934
322,368
773,597
249,932
2,402,028
717,929
491,492
643,569
643,569491,492717,9292,402,028249,932773,597322,36844,9343,222,0162,221,7792,253,2102,500,6602,663,8922,205,0833,029,1913,619,2532,832,7352,963,8622,283,0472,101,0001,367,6051,983,8221,886,22100000000000000000000000000000000000000000000000000000000000
       Short-term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,817,776
3,411,146
2,643,939
2,698,856
1,745,617
2,433,385
2,915,206
1,967,901
1,967,9012,915,2062,433,3851,745,6172,698,8562,643,9393,411,1461,817,77600000000000000000000000000000000000000000000000000000000000000000000000000
       Net Receivables 
1,149,527
1,259,034
1,225,506
874,254
996,792
1,048,904
1,102,526
824,716
869,434
801,315
899,499
1,064,414
1,204,059
1,338,013
1,401,863
1,385,628
1,450,127
1,484,164
1,592,168
1,628,617
1,654,914
1,535,552
1,615,600
1,555,805
1,415,019
1,268,841
1,298,855
1,365,764
1,332,887
1,190,456
1,286,310
1,394,140
1,384,169
1,263,691
1,206,796
1,229,479
1,389,777
1,086,789
1,230,698
1,360,454
1,365,234
1,226,122
1,243,462
1,239,371
0
1,190,765
1,197,060
1,330,001
1,201,913
1,364,833
1,417,303
1,331,363
1,400,973
1,434,110
1,481,897
1,521,629
1,631,992
1,677,085
1,650,198
1,723,105
1,769,454
1,731,748
1,761,552
2,086,493
2,197,072
2,201,000
2,155,800
2,383,686
1,974,708
1,964,557
2,172,757
2,444,625
2,247,095
2,101,449
2,215,722
2,372,083
2,429,969
2,458,907
2,697,586
3,144,838
3,344,312
3,355,217
3,355,2173,344,3123,144,8382,697,5862,458,9072,429,9692,372,0832,215,7222,101,4492,247,0952,444,6252,172,7571,964,5571,974,7082,383,6862,155,8002,201,0002,197,0722,086,4931,761,5521,731,7481,769,4541,723,1051,650,1981,677,0851,631,9921,521,6291,481,8971,434,1101,400,9731,331,3631,417,3031,364,8331,201,9131,330,0011,197,0601,190,76501,239,3711,243,4621,226,1221,365,2341,360,4541,230,6981,086,7891,389,7771,229,4791,206,7961,263,6911,384,1691,394,1401,286,3101,190,4561,332,8871,365,7641,298,8551,268,8411,415,0191,555,8051,615,6001,535,5521,654,9141,628,6171,592,1681,484,1641,450,1271,385,6281,401,8631,338,0131,204,0591,064,414899,499801,315869,434824,7161,102,5261,048,904996,792874,2541,225,5061,259,0341,149,527
       Inventory 
54,514
32,776
30,619
21,887
18,360
22,642
20,135
22,308
21,152
20,347
19,186
29,604
24,540
25,040
26,031
36,070
30,733
32,035
33,005
48,889
41,917
39,874
39,898
53,141
45,436
42,266
40,164
47,678
42,228
39,146
37,104
39,877
34,706
31,101
29,994
36,096
34,888
37,062
35,820
44,611
41,655
33,409
39,754
53,090
0
52,307
45,747
58,401
54,111
58,394
52,858
66,487
59,877
55,330
56,739
64,066
56,714
49,757
51,886
58,002
64,085
66,677
123,238
85,671
75,492
64,843
66,946
65,596
70,572
120,393
95,189
70,454
67,899
84,745
97,332
104,848
105,934
108,866
105,974
113,506
117,506
122,879
122,879117,506113,506105,974108,866105,934104,84897,33284,74567,89970,45495,189120,39370,57265,59666,94664,84375,49285,671123,23866,67764,08558,00251,88649,75756,71464,06656,73955,33059,87766,48752,85858,39454,11158,40145,74752,307053,09039,75433,40941,65544,61135,82037,06234,88836,09629,99431,10134,70639,87737,10439,14642,22847,67840,16442,26645,43653,14139,89839,87441,91748,88933,00532,03530,73336,07026,03125,04024,54029,60419,18620,34721,15222,30820,13522,64218,36021,88730,61932,77654,514
   > Long-term Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
38,385,694
38,757,116
40,717,179
41,561,662
41,809,246
42,758,401
43,261,232
43,977,798
44,626,870
45,260,177
46,014,882
46,662,487
47,094,544
47,743,323
47,743,32347,094,54446,662,48746,014,88245,260,17744,626,87043,977,79843,261,23242,758,40141,809,24641,561,66240,717,17938,757,11638,385,69400000000000000000000000000000000000000000000000000000000000000000000
       Property Plant Equipment 
13,272,768
13,066,257
13,362,696
13,231,351
13,495,797
13,332,643
13,524,318
13,376,626
14,049,832
14,029,873
14,003,252
13,523,536
14,008,471
13,981,250
13,996,216
13,613,581
14,097,316
14,165,702
14,233,536
13,837,498
13,844,404
13,855,676
13,944,287
14,060,073
14,123,586
14,248,536
14,414,540
14,926,616
15,047,337
15,241,117
15,404,423
15,443,211
15,685,606
15,972,770
8,906,945
249,606
259,620
279,340
315,421
356,468
370,174
393,709
401,337
383,383
0
190,865
185,160
199,496
237,614
277,175
309,405
304,845
309,721
307,434
299,526
325,076
326,581
324,211
309,111
302,383
284,180
273,352
259,737
255,050
247,472
246,725
246,648
267,612
370,664
370,655
299,955
385,091
316,450
318,586
259,620
268,251
269,467
267,469
276,973
395,010
289,228
297,228
297,228289,228395,010276,973267,469269,467268,251259,620318,586316,450385,091299,955370,655370,664267,612246,648246,725247,472255,050259,737273,352284,180302,383309,111324,211326,581325,076299,526307,434309,721304,845309,405277,175237,614199,496185,160190,8650383,383401,337393,709370,174356,468315,421279,340259,620249,6068,906,94515,972,77015,685,60615,443,21115,404,42315,241,11715,047,33714,926,61614,414,54014,248,53614,123,58614,060,07313,944,28713,855,67613,844,40413,837,49814,233,53614,165,70214,097,31613,613,58113,996,21613,981,25014,008,47113,523,53614,003,25214,029,87314,049,83213,376,62613,524,31813,332,64313,495,79713,231,35113,362,69613,066,25713,272,768
       Long Term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
31,096
32,966
34,563
35,795
36,932
40,404
41,281
41,783
44,587
57,053
60,819
63,171
53,187
56,327
59,667
63,166
63,417
71,471
75,632
79,243
79,437
85,020
86,991
86,99185,02079,43779,24375,63271,47163,41763,16659,66756,32753,18763,17160,81957,05344,58741,78341,28140,40436,93235,79534,56332,96631,09600000000000000000000000000000000000000000000000000000000000
       Intangible Assets 
0
280,106
0
278,599
0
275,726
0
686,622
0
0
0
517,386
0
0
0
502,518
0
0
0
495,118
491,821
489,878
489,791
507,789
562,075
578,141
614,048
815,416
837,807
841,403
1,093,517
1,545,303
1,581,273
1,644,407
9,074,119
18,546,836
18,759,209
19,128,759
19,612,574
20,141,677
20,499,905
20,885,415
21,386,292
21,991,922
0
22,892,185
23,275,667
23,846,231
24,171,757
24,630,945
25,302,155
25,979,526
26,309,189
27,043,222
28,020,539
28,513,626
28,893,799
29,501,360
30,366,200
31,246,788
31,680,567
32,180,958
32,684,419
33,466,132
33,830,713
34,255,597
34,733,454
29,012,460
28,940,478
30,145,498
31,516,892
32,325,447
32,178,241
33,342,487
33,539,003
34,405,575
34,698,900
35,589,166
35,589,044
36,399,981
36,910,080
37,067,139
37,067,13936,910,08036,399,98135,589,04435,589,16634,698,90034,405,57533,539,00333,342,48732,178,24132,325,44731,516,89230,145,49828,940,47829,012,46034,733,45434,255,59733,830,71333,466,13232,684,41932,180,95831,680,56731,246,78830,366,20029,501,36028,893,79928,513,62628,020,53927,043,22226,309,18925,979,52625,302,15524,630,94524,171,75723,846,23123,275,66722,892,185021,991,92221,386,29220,885,41520,499,90520,141,67719,612,57419,128,75918,759,20918,546,8369,074,1191,644,4071,581,2731,545,3031,093,517841,403837,807815,416614,048578,141562,075507,789489,791489,878491,821495,118000502,518000517,386000686,6220275,7260278,5990280,1060
       Long-term Assets Other 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
245,610
210,102
215,563
210,448
340,615
209,479
196,945
191,405
335,425
9,327,910
10,069,622
9,788,059
46,720,296
47,359,104
47,359,10446,720,2969,788,05910,069,6229,327,910335,425191,405196,945209,479340,615210,448215,563210,102245,61000000000000000000000000000000000000000000000000000000000000000000000
> Total Liabilities 
6,904,196
6,923,672
7,414,532
7,921,194
8,803,971
9,085,461
9,267,833
8,953,727
8,915,169
8,860,614
8,881,893
8,832,220
9,198,577
9,455,778
8,805,982
8,952,618
9,180,922
8,837,846
8,879,730
8,981,471
8,851,686
8,597,453
8,605,534
8,879,370
8,502,450
8,454,815
9,058,883
10,030,561
10,013,383
9,752,564
9,769,727
11,037,566
11,178,786
11,727,446
11,938,007
13,668,784
14,252,744
13,517,586
14,205,034
14,669,088
14,354,516
14,302,458
14,549,574
14,960,216
0
14,949,043
15,051,397
15,343,493
15,382,124
15,315,582
16,000,565
17,051,037
17,990,184
17,182,109
19,098,776
19,990,008
19,628,197
19,285,747
19,766,225
21,325,823
21,204,885
20,773,679
21,110,240
22,033,435
22,592,174
22,748,768
23,459,124
24,013,430
23,114,476
23,391,554
24,036,166
24,822,017
25,989,907
27,464,378
26,089,611
27,624,932
27,616,181
26,884,206
28,570,587
28,233,626
28,187,148
27,678,812
27,678,81228,187,14828,233,62628,570,58726,884,20627,616,18127,624,93226,089,61127,464,37825,989,90724,822,01724,036,16623,391,55423,114,47624,013,43023,459,12422,748,76822,592,17422,033,43521,110,24020,773,67921,204,88521,325,82319,766,22519,285,74719,628,19719,990,00819,098,77617,182,10917,990,18417,051,03716,000,56515,315,58215,382,12415,343,49315,051,39714,949,043014,960,21614,549,57414,302,45814,354,51614,669,08814,205,03413,517,58614,252,74413,668,78411,938,00711,727,44611,178,78611,037,5669,769,7279,752,56410,013,38310,030,5619,058,8838,454,8158,502,4508,879,3708,605,5348,597,4538,851,6868,981,4718,879,7308,837,8469,180,9228,952,6188,805,9829,455,7789,198,5778,832,2208,881,8938,860,6148,915,1698,953,7279,267,8339,085,4618,803,9717,921,1947,414,5326,923,6726,904,196
   > Total Current Liabilities 
945,164
789,502
933,268
1,518,559
1,528,887
2,021,285
1,874,016
1,728,322
1,662,552
1,621,482
2,069,733
2,100,889
2,176,499
2,136,018
1,599,034
1,691,966
1,807,491
1,662,890
1,938,285
2,101,936
2,052,871
2,125,937
2,219,646
2,454,737
2,270,102
2,351,353
2,827,042
3,016,919
3,036,288
3,325,041
3,539,524
3,109,896
3,094,700
3,227,786
3,140,001
3,506,114
3,675,517
2,922,935
2,956,368
3,968,668
3,388,392
3,392,246
3,626,811
3,797,370
0
2,703,029
2,716,136
2,972,381
2,967,797
2,452,310
2,630,823
3,480,576
3,560,588
2,892,090
2,990,989
3,740,316
3,959,221
3,845,795
3,887,333
4,302,508
4,369,417
3,814,174
3,724,837
4,771,880
4,968,725
4,254,856
4,484,101
5,398,632
4,874,771
4,450,522
4,355,080
6,453,424
6,950,358
6,680,810
4,217,527
5,900,130
6,203,068
5,932,223
6,137,903
5,092,927
5,214,658
4,775,714
4,775,7145,214,6585,092,9276,137,9035,932,2236,203,0685,900,1304,217,5276,680,8106,950,3586,453,4244,355,0804,450,5224,874,7715,398,6324,484,1014,254,8564,968,7254,771,8803,724,8373,814,1744,369,4174,302,5083,887,3333,845,7953,959,2213,740,3162,990,9892,892,0903,560,5883,480,5762,630,8232,452,3102,967,7972,972,3812,716,1362,703,02903,797,3703,626,8113,392,2463,388,3923,968,6682,956,3682,922,9353,675,5173,506,1143,140,0013,227,7863,094,7003,109,8963,539,5243,325,0413,036,2883,016,9192,827,0422,351,3532,270,1022,454,7372,219,6462,125,9372,052,8712,101,9361,938,2851,662,8901,807,4911,691,9661,599,0342,136,0182,176,4992,100,8892,069,7331,621,4821,662,5521,728,3221,874,0162,021,2851,528,8871,518,559933,268789,502945,164
       Short-term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
11,964,143
11,741,469
11,624,811
1,368,957
1,729,182
1,859,237
1,952,177
2,087,319
2,084,535
1,425,232
1,457,043
1,536,936
0
0
0
0
0
0
3,277,147
3,281,186
1,830,617
1,777,935
1,789,406
1,789,4061,777,9351,830,6173,281,1863,277,1470000001,536,9361,457,0431,425,2322,084,5352,087,3191,952,1771,859,2371,729,1821,368,95711,624,81111,741,46911,964,14300000000000000000000000000000000000000000000000000000000000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
11,964,143
11,741,469
11,624,811
1,368,957
1,729,182
1,859,237
1,952,177
2,087,319
2,084,535
1,425,232
1,457,043
1,536,936
2,859,843
3,198,162
3,334,503
1,385,146
2,969,026
3,136,112
3,180,982
3,180,672
1,830,617
1,777,935
1,789,406
1,789,4061,777,9351,830,6173,180,6723,180,9823,136,1122,969,0261,385,1463,334,5033,198,1622,859,8431,536,9361,457,0431,425,2322,084,5352,087,3191,952,1771,859,2371,729,1821,368,95711,624,81111,741,46911,964,14300000000000000000000000000000000000000000000000000000000000
       Accounts payable 
36,316
56,442
31,619
81,023
41,114
36,611
24,283
51,934
26,436
24,264
36,319
51,578
35,899
46,553
58,345
77,781
39,011
88,032
103,845
144,167
89,844
91,722
128,095
165,267
106,953
122,248
159,476
385,654
323,770
350,876
404,643
435,259
361,974
175,933
390,239
144,043
494,375
172,719
471,490
255,557
207,118
195,275
257,128
297,198
0
239,393
217,658
275,051
230,651
249,768
314,280
323,513
238,468
254,389
225,804
248,158
198,089
236,626
257,166
311,960
201,694
384,174
284,833
344,947
310,685
271,137
384,482
465,993
427,383
454,105
325,896
369,631
242,106
396,951
237,840
263,741
250,019
225,901
257,195
236,763
252,052
311,737
311,737252,052236,763257,195225,901250,019263,741237,840396,951242,106369,631325,896454,105427,383465,993384,482271,137310,685344,947284,833384,174201,694311,960257,166236,626198,089248,158225,804254,389238,468323,513314,280249,768230,651275,051217,658239,3930297,198257,128195,275207,118255,557471,490172,719494,375144,043390,239175,933361,974435,259404,643350,876323,770385,654159,476122,248106,953165,267128,09591,72289,844144,167103,84588,03239,01177,78158,34546,55335,89951,57836,31924,26426,43651,93424,28336,61141,11481,02331,61956,44236,316
       Other Current Liabilities 
469,889
328,679
360,387
808,025
965,494
652,205
660,083
709,385
694,403
500,099
520,356
607,090
608,247
669,289
785,658
948,879
979,933
932,397
973,382
1,105,294
1,223,301
1,045,519
1,400,969
1,547,356
1,183,030
1,097,240
1,280,676
1,182,405
1,422,727
1,359,853
1,515,464
1,664,100
1,776,915
1,638,899
1,586,120
2,119,928
1,904,790
1,742,216
1,455,604
2,083,101
2,181,704
1,871,625
2,053,179
2,132,781
0
1,697,313
1,792,507
2,056,390
2,116,492
1,564,644
1,606,170
1,949,937
1,943,887
1,777,830
1,791,459
1,965,896
2,287,100
2,013,451
1,915,840
2,743,981
2,722,756
2,087,954
2,051,991
2,680,178
2,781,265
884,779
882,172
1,688,923
521,254
666,901
595,338
2,022,162
2,053,744
1,105,633
1,041,460
1,560,756
1,528,053
2,429,175
2,337,281
2,768,417
2,801,607
2,473,016
2,473,0162,801,6072,768,4172,337,2812,429,1751,528,0531,560,7561,041,4601,105,6332,053,7442,022,162595,338666,901521,2541,688,923882,172884,7792,781,2652,680,1782,051,9912,087,9542,722,7562,743,9811,915,8402,013,4512,287,1001,965,8961,791,4591,777,8301,943,8871,949,9371,606,1701,564,6442,116,4922,056,3901,792,5071,697,31302,132,7812,053,1791,871,6252,181,7042,083,1011,455,6041,742,2161,904,7902,119,9281,586,1201,638,8991,776,9151,664,1001,515,4641,359,8531,422,7271,182,4051,280,6761,097,2401,183,0301,547,3561,400,9691,045,5191,223,3011,105,294973,382932,397979,933948,879785,658669,289608,247607,090520,356500,099694,403709,385660,083652,205965,494808,025360,387328,679469,889
   > Long-term Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
18,239,705
18,941,032
19,681,086
18,368,593
19,039,549
20,783,568
21,872,084
21,724,802
21,413,113
20,951,983
22,432,684
23,140,699
22,972,490
22,903,098
22,903,09822,972,49023,140,69922,432,68420,951,98321,413,11321,724,80221,872,08420,783,56819,039,54918,368,59319,681,08618,941,03218,239,70500000000000000000000000000000000000000000000000000000000000000000000
       Long term Debt Total 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
11,952,681
10,384,866
11,265,828
12,971,497
13,918,118
14,224,175
13,793,723
13,211,481
14,636,474
15,893,219
15,850,155
15,937,198
15,937,19815,850,15515,893,21914,636,47413,211,48113,793,72314,224,17513,918,11812,971,49711,265,82810,384,86611,952,6810000000000000000000000000000000000000000000000000000000000000000000000
       Other Liabilities 
0
0
0
225,167
0
395,642
0
837,023
880,538
909,285
938,975
1,047,433
1,220,866
1,277,795
1,328,957
1,293,282
1,241,951
1,396,880
1,425,129
1,258,380
1,359,198
1,325,357
1,322,357
1,321,647
1,465,083
1,376,444
1,422,879
1,455,902
1,447,176
1,517,686
1,623,541
2,221,347
2,316,370
2,317,604
2,132,545
3,140,198
3,370,085
3,488,788
3,602,040
3,734,135
3,670,409
3,665,818
3,653,139
3,460,917
0
3,985,859
3,956,049
3,561,978
3,661,035
3,682,446
3,788,042
3,991,820
3,960,802
4,058,455
4,447,951
4,654,354
4,949,832
5,248,887
5,604,263
6,305,739
6,538,966
6,676,740
6,885,645
6,870,590
6,998,623
7,276,632
7,352,535
7,565,614
7,547,139
7,558,299
7,728,405
7,983,727
7,773,721
7,812,071
7,953,966
7,500,627
7,619,390
7,740,502
7,796,210
7,247,480
7,122,335
6,965,900
6,965,9007,122,3357,247,4807,796,2107,740,5027,619,3907,500,6277,953,9667,812,0717,773,7217,983,7277,728,4057,558,2997,547,1397,565,6147,352,5357,276,6326,998,6236,870,5906,885,6456,676,7406,538,9666,305,7395,604,2635,248,8874,949,8324,654,3544,447,9514,058,4553,960,8023,991,8203,788,0423,682,4463,661,0353,561,9783,956,0493,985,85903,460,9173,653,1393,665,8183,670,4093,734,1353,602,0403,488,7883,370,0853,140,1982,132,5452,317,6042,316,3702,221,3471,623,5411,517,6861,447,1761,455,9021,422,8791,376,4441,465,0831,321,6471,322,3571,325,3571,359,1981,258,3801,425,1291,396,8801,241,9511,293,2821,328,9571,277,7951,220,8661,047,433938,975909,285880,538837,0230395,6420225,167000
> Total Stockholder Equity
8,394,659
8,268,473
8,208,565
7,996,690
7,671,490
7,246,476
7,593,232
7,576,943
7,653,443
7,580,910
7,817,358
7,951,588
8,066,764
8,341,232
8,450,709
8,482,548
8,694,805
8,878,388
9,077,706
9,112,240
9,411,838
9,615,542
9,732,732
9,784,006
10,087,731
10,247,254
10,478,627
10,492,429
10,748,643
11,074,328
11,270,055
10,527,637
10,818,249
11,151,880
11,601,687
9,681,800
9,864,593
10,275,480
10,343,444
10,545,896
11,037,809
11,042,477
11,404,241
11,715,577
11,715,577
12,034,432
12,509,395
12,930,801
13,408,387
13,667,947
13,759,448
13,304,403
13,622,581
13,937,894
13,357,750
13,716,606
14,345,395
15,131,473
15,524,287
15,419,211
16,093,573
16,362,662
17,263,187
17,513,009
18,093,440
18,221,787
18,786,951
19,551,688
20,198,979
20,593,023
21,801,883
21,635,783
20,977,837
21,275,024
21,696,617
22,793,704
23,290,562
24,037,238
24,505,769
24,931,859
25,907,398
26,274,226
26,274,22625,907,39824,931,85924,505,76924,037,23823,290,56222,793,70421,696,61721,275,02420,977,83721,635,78321,801,88320,593,02320,198,97919,551,68818,786,95118,221,78718,093,44017,513,00917,263,18716,362,66216,093,57315,419,21115,524,28715,131,47314,345,39513,716,60613,357,75013,937,89413,622,58113,304,40313,759,44813,667,94713,408,38712,930,80112,509,39512,034,43211,715,57711,715,57711,404,24111,042,47711,037,80910,545,89610,343,44410,275,4809,864,5939,681,80011,601,68711,151,88010,818,24910,527,63711,270,05511,074,32810,748,64310,492,42910,478,62710,247,25410,087,7319,784,0069,732,7329,615,5429,411,8389,112,2409,077,7068,878,3888,694,8058,482,5488,450,7098,341,2328,066,7647,951,5887,817,3587,580,9107,653,4437,576,9437,593,2327,246,4767,671,4907,996,6908,208,5658,268,4738,394,659
   Common Stock
0
3,403,688
0
3,403,688
0
3,403,688
0
3,403,688
0
0
0
3,403,688
0
0
0
3,403,688
3,403,688
3,403,688
3,403,688
3,403,688
3,403,688
3,403,688
3,403,688
0
3,403,688
6,203,688
6,203,688
6,203,688
6,203,688
6,203,688
6,203,688
6,203,688
6,203,688
6,203,688
6,203,688
6,203,688
6,203,688
6,203,688
6,203,688
6,203,688
6,203,688
6,203,688
6,203,688
6,203,688
0
6,203,688
6,203,688
6,203,688
6,203,688
10,000,000
10,000,000
10,000,000
10,000,000
10,000,000
10,000,000
10,000,000
10,000,000
10,000,000
10,000,000
10,000,000
10,000,000
10,000,000
10,000,000
10,000,000
10,000,000
10,000,000
10,000,000
15,000,000
15,000,000
15,000,000
15,000,000
15,000,000
15,000,000
15,000,000
15,000,000
15,000,000
15,000,000
15,000,000
15,000,000
15,000,000
15,000,000
15,000,000
15,000,00015,000,00015,000,00015,000,00015,000,00015,000,00015,000,00015,000,00015,000,00015,000,00015,000,00015,000,00015,000,00015,000,00015,000,00010,000,00010,000,00010,000,00010,000,00010,000,00010,000,00010,000,00010,000,00010,000,00010,000,00010,000,00010,000,00010,000,00010,000,00010,000,00010,000,00010,000,00010,000,0006,203,6886,203,6886,203,6886,203,68806,203,6886,203,6886,203,6886,203,6886,203,6886,203,6886,203,6886,203,6886,203,6886,203,6886,203,6886,203,6886,203,6886,203,6886,203,6886,203,6886,203,6886,203,6886,203,6883,403,68803,403,6883,403,6883,403,6883,403,6883,403,6883,403,6883,403,6883,403,6880003,403,6880003,403,68803,403,68803,403,68803,403,6880
   Retained Earnings 
1,704,423
1,741,986
0
0
0
0
425,287
0
99,190
60,233
318,322
0
135,476
426,737
555,137
0
222,081
420,105
639,424
0
3,489,086
3,712,614
3,848,164
3,916,234
4,241,644
1,622,890
1,875,668
1,911,474
2,189,350
2,539,061
2,756,466
2,054,594
2,384,243
2,735,483
3,164,460
3,353,857
3,536,650
3,947,537
4,015,501
4,217,953
4,709,866
4,714,534
5,076,298
5,387,634
0
6,165,304
6,640,267
6,736,389
7,213,975
3,801,478
3,892,979
3,694,151
4,012,329
4,327,642
3,747,498
4,069,988
4,698,777
5,484,855
6,058,742
6,244,859
6,919,221
7,188,310
8,088,835
8,051,110
8,631,541
8,759,888
9,325,052
5,100,783
647,291
1,101,666
7,350,978
7,547,954
6,890,008
7,187,195
7,608,771
8,194,706
8,691,564
1,269,910
1,738,441
9,885,485
975,539
1,397,997
1,397,997975,5399,885,4851,738,4411,269,9108,691,5648,194,7067,608,7717,187,1956,890,0087,547,9547,350,9781,101,666647,2915,100,7839,325,0528,759,8888,631,5418,051,1108,088,8357,188,3106,919,2216,244,8596,058,7425,484,8554,698,7774,069,9883,747,4984,327,6424,012,3293,694,1513,892,9793,801,4787,213,9756,736,3896,640,2676,165,30405,387,6345,076,2984,714,5344,709,8664,217,9534,015,5013,947,5373,536,6503,353,8573,164,4602,735,4832,384,2432,054,5942,756,4662,539,0612,189,3501,911,4741,875,6681,622,8904,241,6443,916,2343,848,1643,712,6143,489,0860639,424420,105222,0810555,137426,737135,4760318,32260,23399,1900425,28700001,741,9861,704,423
   Capital Surplus 0000000000000000000000000000000000000000000000000000000000000000000000000000000000
   Treasury Stock0000000000000000000000000000000000000000000000000000000000000000000000000000000000
   Other Stockholders 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
-825,648
-825,648
-825,648
-825,648
-538,101
-538,101
-538,101
-538,101
-549,095
-549,095
-549,095
-549,095
-912,171
-912,171
-912,171
-912,154
-401,002
-401,002
-401,002
-401,002
46,374
46,374
46,374
46,37446,37446,374-401,002-401,002-401,002-401,002-912,154-912,171-912,171-912,171-549,095-549,095-549,095-549,095-538,101-538,101-538,101-538,101-825,648-825,648-825,648-825,64800000000000000000000000000000000000000000000000000000000000



Balance Sheet

Currency in BRL. All numbers in thousands.