ServisFirst Bancshares Inc
Buy, Hold or Sell?

Let's analyse ServisFirst Bancshares Inc together

Penke I guess you are interested in ServisFirst Bancshares Inc. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of ServisFirst Bancshares Inc. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

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

Get notifications about ServisFirst Bancshares Inc

I send you an email if I find something interesting about ServisFirst Bancshares Inc.

Quick analysis of ServisFirst Bancshares Inc (30 sec.)

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

How much money do you get?

$0.84

When do you have the money?

1 year

How often do you get paid?

100.0%

What is your share worth?

Current worth

$26.41

Expected worth in 1 year

$29.03

How sure are you?

95.0%

+ What do you gain per year?

Total Gains per Share

$3.45

Return On Investment

5.8%

For what price can you sell your share?

Current Price per Share

$59.30

Expected price per share

$57.12 - $66.12

How sure are you?

50%

1. Valuation of ServisFirst Bancshares Inc (5 min.)

Live pricePrice per Share (EOD)

$59.30

Book Value per Share

$26.41

Intrinsic Value Per Share

$34.01 - $58.94

Total Value Per Share

$60.42 - $85.35

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

The following numbers are based on moving averages and per share and per quarter.
I use a 6% discount rate for the low estimation and 3% for the high estimation.
The current Free Cash Flow Per Share is 10Y: ($0.71) 3Y: ($1.10) TTM: ($0.88)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($0.03) 3Y: ($0.02) TTM: ($0.07)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$2.94	$4.61	$3.19 - $4.89
2	$6.05	$9.57	$3.55 - $5.39
3	$9.29	$14.84	$3.92 - $5.89
4	$12.65	$20.41	$4.29 - $6.39
5	$16.10	$26.26	$4.65 - $6.89
6	$19.61	$32.37	$5.02 - $7.40
7	$23.18	$38.70	$5.38 - $7.90
8	$26.77	$45.26	$5.75 - $8.40
9	$30.39	$52.01	$6.11 - $8.90
10	$34.01	$58.94	$6.48 - $9.40

2. Growth of ServisFirst Bancshares Inc (5 min.)

Is ServisFirst Bancshares Inc growing?

	Current year	Previous year	Grow	Grow %
How rich?	$1.4b	$1.2b	$7.2b	85.4%

How much money is ServisFirst Bancshares Inc making?

	Current year	Previous year	Grow	Grow %
Making money	$51.7m	$62.8m	-$11.1m	-21.6%
Net Profit Margin	31.0%	49.9%	-	-

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

Quarterly Yearly

3. Financial Health of ServisFirst Bancshares Inc (5 min.)

4. Comparing to competitors in the Banks - Regional industry (5 min.)

Industry Rankings (Banks - Regional)

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

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

What can you expect buying and holding a share of ServisFirst Bancshares Inc?

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

Speculation

The Price per Share of ServisFirst Bancshares Inc is $59.30. 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 ServisFirst Bancshares Inc.
The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in ServisFirst Bancshares Inc, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is $26.41. Based on the TTM, the Book Value Change Per Share is $0.65 per quarter. Based on the YOY, the Book Value Change Per Share is $0.67 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 $0.21 per quarter.

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

How much money are you going to get?

	MRQ		TTM		YOY		5Y		10Y
	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share
Usd Eps	0.77	1.3%	0.95	1.6%	1.15	1.9%	0.90	1.5%	0.65	1.1%
Usd Book Value Change Per Share	-266.63	-449.6%	0.65	1.1%	0.67	1.1%	0.66	1.1%	0.52	0.9%
Usd Dividend Per Share	0.28	0.5%	0.21	0.4%	0.17	0.3%	0.15	0.3%	0.10	0.2%
Usd Total Gains Per Share	-266.35	-449.2%	0.86	1.5%	0.84	1.4%	0.82	1.4%	0.62	1.1%
Usd Price Per Share	66.63	-	53.59	-	80.78	-	55.39	-	47.65	-
Price to Earnings Ratio	21.59	-	14.55	-	17.70	-	15.07	-	21.94	-
Price-to-Total Gains Ratio	-0.25	-	13.75	-	109.82	-	60.30	-	72.72	-
Price to Book Ratio	2.52	-	1.27	-	3.60	-	2.58	-	3.48	-
Price-to-Total Gains Ratio	-0.25	-	13.75	-	109.82	-	60.30	-	72.72	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	59.3
Number of shares	16

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.21	0.15
Usd Book Value Change Per Share	0.65	0.66
Usd Total Gains Per Share	0.86	0.82
Gains per Quarter (16 shares)	13.81	13.11
Gains per Year (16 shares)	55.24	52.42

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	13	42	45	10	43	42
2	27	84	100	20	85	94
3	40	125	155	30	128	146
4	54	167	210	40	170	198
5	67	209	265	49	213	250
6	81	251	320	59	255	302
7	94	293	375	69	298	354
8	107	334	430	79	340	406
9	121	376	485	89	383	458
10	134	418	540	99	425	510

How sure are you?

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

Linear %

	Trailing 12 Months				3Y				5 Year				10 Year				ALLTIME
				%				%				%				%				%
Earnings Per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	20.0	0.0	0.0	100.0%	40.0	0.0	0.0	100.0%	64.0	0.0	0.0	100.0%
Book Value Change Per Share	3.0	1.0	0.0	75.0%	11.0	1.0	0.0	91.7%	19.0	1.0	0.0	95.0%	38.0	2.0	0.0	95.0%	62.0	2.0	0.0	96.9%
Dividend per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	20.0	0.0	0.0	100.0%	40.0	0.0	0.0	100.0%	53.0	0.0	11.0	82.8%
Total Gains per Share	3.0	1.0	0.0	75.0%	11.0	1.0	0.0	91.7%	19.0	1.0	0.0	95.0%	38.0	2.0	0.0	95.0%	62.0	2.0	0.0	96.9%

Fundamentals of ServisFirst Bancshares Inc

About ServisFirst Bancshares Inc

https://www.servisfirstbank.com
Banks - Regional
605
2500 Woodcrest Place, Birmingham, AL, United States, 35209
Google Maps Bing Maps

ServisFirst Bancshares, Inc. operates as the bank holding company for ServisFirst Bank that provides various banking services to individual and corporate customers. It accepts demand, time, savings, and other deposits; checking, money market, and IRA accounts; and certificates of deposit. The company's loan products include commercial lending products, including seasonal, bridge, and term loans for working capital, expansion of the business, acquisition of property, and plant and equipment, as well as commercial lines of credit; commercial real estate loans, construction and development loans, and residential real estate loans; and consumer loans, such as home equity loans, vehicle financing, loans secured by deposits, and secured and unsecured personal loans. It also offers other banking products and services comprising telephone and mobile banking, Internet banking, direct deposit, traveler's checks, safe deposit boxes, attorney trust accounts, automatic account transfers, automated teller machines, and debit and credit card systems; treasury and cash management services; wire transfer, night depository, banking-by-mail, and remote capture services; and correspondent banking services to other financial institutions. In addition, the company holds and manages participations in residential mortgages and commercial real estate loans originated by ServisFirst Bank in Alabama, Florida, Georgia, and Tennessee. The company was founded in 2005 and is headquartered in Birmingham, Alabama.

Fundamental data was last updated by Penke on 2024-04-26 12:00:05.

Financial Health

Profitability Details

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

Operating Efficiency Details

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

Liquidity Details

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

Solvency Details

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

Valuation

Valuation Details

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

1.1. Profitability of ServisFirst Bancshares Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit ServisFirst Bancshares Inc earns for each $1 of revenue.

Above 10% is considered healthy but always compare ServisFirst Bancshares Inc to the Banks - Regional industry mean.
A Net Profit Margin of 18.4% means that $0.18 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of ServisFirst Bancshares Inc:

The MRQ is 18.4%. The company is making a huge profit. +2
The TTM is 31.0%. The company is making a huge profit. +2

Trends

Current period		Compared to		+/-
MRQ	18.4%	TTM	31.0%	-12.6%
TTM	31.0%	YOY	49.9%	-18.9%
TTM	31.0%	5Y	44.9%	-13.9%
5Y	44.9%	10Y	42.2%	+2.7%

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	18.4%	18.4%	0.0%
TTM	31.0%	28.0%	+3.0%
YOY	49.9%	25.2%	+24.7%
5Y	44.9%	22.8%	+22.1%
10Y	42.2%	19.8%	+22.4%

Measures how much net profit ServisFirst Bancshares Inc earns for each $1 of revenue.

Revenue is the amount of profit ServisFirst Bancshares Inc generates before taxes and all other costs. For example, when you buy a cup of coffee it will cost you $3. The company does not earn $3 in profit but also has to pay various costs and taxes to create that cup of coffee. Let's assume the cost of creating a cup of coffee is $1.5.

The $3 you pay for a cup of coffee is called revenue.
The $1.5 that’s left over when all costs to create that cup of coffee (including taxes) are deduced from the revenue is called net profit.

The net profit margin looks at how much net profit ServisFirst Bancshares Inc earns for each $1 in revenue.

How to use net profit margin

Higher profit margin is better (more profit).
Above 10% is considered healthy but always compare ServisFirst Bancshares Inc to the Banks - Regional industry mean.
Can be used to compare companies within the Banks - Regional industry.

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

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of ServisFirst Bancshares Inc. If profit margins remain low (compared to the Banks - Regional industry mean) and there are no improvements to make in production costs or other areas that might be a warning sign. If profit margins are high that means the company has low overhead costs and is efficiently using its resources to generate profit.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Net Profit Margin of ServisFirst Bancshares Inc is 0.18. This means that ServisFirst Bancshares Inc earned $0.18 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Net Profit Margin of the Banks - Regional industry is 18.4%.
What is the trend?
The trend is important because it shows you how ServisFirst Bancshares Inc is performing over time. The most recent quarter might be important if ServisFirst Bancshares Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for ServisFirst Bancshares Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare ServisFirst Bancshares Inc with other companies in the same industry (Banks - Regional).
Net profit margin should rise over the years.
Can be influenced when ServisFirst Bancshares Inc sells assets (profit will increase while costs remain the same).
It won’t show what part of ServisFirst Bancshares Inc is doing great or needs improvement (it only looks at total revenue and total net income).

How to calculate net profit margin

Net profit margin = net income / total revenue * 100%

Real example of ServisFirst Bancshares Inc

You need the following data to determine net profit margin:

Income statement from the period you want to calculate (for example, MRQ or TTM).

Net income MRQ ServisFirst Bancshares Inc = 50,026
Total revenue MRQ ServisFirst Bancshares Inc = 226,710
$50,026 / $226,710 = 0.18 or 18.4%

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 ServisFirst Bancshares Inc is using its assets to generate profit.

Above 5% is considered healthy but always compare ServisFirst Bancshares Inc to the Banks - Regional industry mean.
0.3% Return on Assets means that ServisFirst Bancshares Inc generated $0.00 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of ServisFirst Bancshares Inc:

The MRQ is 0.3%. Using its assets, the company is inefficient in making profit. -1
The TTM is 0.3%. Using its assets, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	0.3%	TTM	0.3%	-0.1%
TTM	0.3%	YOY	0.4%	-0.1%
TTM	0.3%	5Y	0.4%	-0.1%
5Y	0.4%	10Y	0.4%	+0.0%

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	0.3%	0.1%	+0.2%
TTM	0.3%	0.2%	+0.1%
YOY	0.4%	0.2%	+0.2%
5Y	0.4%	0.2%	+0.2%
10Y	0.4%	0.2%	+0.2%

Shows how efficient ServisFirst Bancshares Inc is using its assets to generate profit.

For a farm, a tractor is considered an asset. The tractor helps ploughing the land making it possible to plant and harvest crops. But the tractor might be old and needing maintenance all the time reducing its efficiency. Return on assets indicates how effectively the farm is using the tractor (and other assets that help the core business) to plough the land.

How to use return on assets

Higher is better.
Above 5% is considered healthy but always compare ServisFirst Bancshares Inc to the Banks - Regional industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on assets in their analysis

Shows the investor how effectively ServisFirst Bancshares Inc is using its resources to generate profit. If the return on assets (0.3%) from ServisFirst Bancshares Inc are higher than the Banks - Regional mean (0.1%) that means ServisFirst Bancshares Inc is using its resources better than their competitors. If not, that means their competitors are more efficient in using their resources to generate profit.

An investor should always look at:

What is the current return on assets?
The current most recent quarter (MRQ) Return on Assets of ServisFirst Bancshares Inc is 0.3%. This means the company generated $0.00 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the Banks - Regional industry is 0.1%.
What is the trend?
The trend is important because it shows you how ServisFirst Bancshares Inc is performing over time. The most recent quarter might be important if ServisFirst Bancshares Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for ServisFirst Bancshares Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
If a company has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

How to calculate return on assets

Return on assets = net income / total assets * 100%

Real example ServisFirst Bancshares Inc

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

Income statement
Balance sheet

Net income MRQ (income statement) from ServisFirst Bancshares Inc = 50,026
Total assets MRQ (balance sheet) from ServisFirst Bancshares Inc = 15,721,630
50,026 / 15,721,630 = 0.00 or 0.3%

ROA is an important ratio as it will tell you how effectively ServisFirst Bancshares Inc is using its resources to generate profits. Example:

Bob and Kristin both sell ice cream in the summer. They both have an ice cream truck. The truck Bob owes cost him $20.000 and the truck Kristin owes cost her $1500. Over the summer, Bob earned $2000 and Kristin earned $200. To calculate the return on assets:

Bob: $2000 / $20.000 * 100% = 10%
Kristin: $200 / $1500 * 100% = 13.3%

This tells you Bob’s company is more valuable but Kristin's company is more efficient. Be aware that total assets can change over time. A transportation business will buy and sell trucks or planes all the time. Before using return on assets as a guideline, you have to know what the exact assets are. For a company that has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

1.1.3. Return on Equity

Shows how efficient ServisFirst Bancshares Inc is using its investors money to generate profit.

Above 15%-20% is considered healthy but always compare ServisFirst Bancshares Inc to the Banks - Regional industry mean.
2.9% Return on Equity means ServisFirst Bancshares Inc generated $0.03 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of ServisFirst Bancshares Inc:

The MRQ is 2.9%. Using its investors money, the company is inefficient in making profit. -1
The TTM is 3.7%. Using its investors money, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	2.9%	TTM	3.7%	-0.8%
TTM	3.7%	YOY	5.1%	-1.4%
TTM	3.7%	5Y	4.6%	-0.8%
5Y	4.6%	10Y	4.3%	+0.3%

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	2.9%	1.4%	+1.5%
TTM	3.7%	2.5%	+1.2%
YOY	5.1%	2.7%	+2.4%
5Y	4.6%	2.5%	+2.1%
10Y	4.3%	2.8%	+1.5%

Shows how efficient ServisFirst Bancshares Inc is using its investors money to generate profit.

A publicly traded company (any company that issues shares to the public) is owned by its shareholders. Return on equity calculates the amount of profit for every $1 the shareholders invested.

How to use return on equity

Higher is better.
Above 15%-20% is considered healthy but always compare ServisFirst Bancshares Inc to the Banks - Regional industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on equity in their analysis

To find out the owners/management's attitude toward their company. You typically want the owners/management to invest in the company and focus on generating profit. If not enough profit is generated (compared to the Banks - Regional industry mean), the company might not be investing their money efficiently.

The three steps every investor should look at:

What is the current return on equity?
The current most recent quarter (MRQ) Return on Equity of ServisFirst Bancshares Inc is 2.9%. This means ServisFirst Bancshares Inc generated $0.03 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the Banks - Regional industry is 1.4%.
What is the trend?
The trend is important because it shows you how ServisFirst Bancshares Inc is performing over time. The most recent quarter might be important if ServisFirst Bancshares Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for ServisFirst Bancshares Inc up to 10 years back (depending if ServisFirst Bancshares Inc existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Does not include intangible assets (non physical assets like licences, computer software, etc.).
Stockholders equity and shareholders equity refer to the same thing.
Liabilities should not be more than three times return on equity.

How to calculate return on equity

Return on equity = net profit / shareholders equity * 100%

Real example of ServisFirst Bancshares Inc

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) ServisFirst Bancshares Inc = 50,026
Shareholders equity (balance sheet) MRQ ServisFirst Bancshares Inc = 1,475,536
50,026 / 1,475,536 = 0.03 or 2.9%

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

1.2. Operating Efficiency of ServisFirst Bancshares Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient ServisFirst Bancshares Inc is operating .

Measures how much profit ServisFirst Bancshares Inc makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
Above 15% is considered healthy but always compare ServisFirst Bancshares Inc to the Banks - Regional industry mean.
An Operating Margin of -0.2% means the company generated $0.00 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of ServisFirst Bancshares Inc:

The MRQ is -0.2%. The company is operating very inefficient. -2
The TTM is 54.2%. The company is operating very efficient. +2

Trends

Current period		Compared to		+/-
MRQ	-0.2%	TTM	54.2%	-54.4%
TTM	54.2%	YOY	78.5%	-24.3%
TTM	54.2%	5Y	73.2%	-19.0%
5Y	73.2%	10Y	70.7%	+2.6%

Measures how efficient ServisFirst Bancshares Inc is operating .

The more effecient a company creates products or provides services, the more profit it generates.

How to use operating margin

Higher is better
Above 15% is considered healthy but always compare ServisFirst Bancshares Inc to the Banks - Regional industry mean.
Can be very different between industries
Can be used to compare companies

Why do investors use operating margin in their analysis

To determine how much profit ServisFirst Bancshares Inc is making from it’s core business.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Operating Margin of ServisFirst Bancshares Inc is -0.2%. This means that ServisFirst Bancshares Inc earned $0.00 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Banks - Regional industry is .
What is the trend?
The trend is important because it shows you how ServisFirst Bancshares Inc is performing over time. The most recent quarter might be important if ServisFirst Bancshares Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for ServisFirst Bancshares Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Can be calculated in different ways

How to calculate operating margin

Operating margin = operating earnings / total revenue

Real example of ServisFirst Bancshares Inc

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ ServisFirst Bancshares Inc = 599
Total revenue MRQ ServisFirst Bancshares Inc = 226,710
$599 / $226,710 = 0.00 or -0.2%

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 ServisFirst Bancshares Inc is keeping operating costs low.

Below 1 is considered healthy (always compare to Banks - Regional industry mean).
An Operation Ratio of -0.91 means that the operating costs are $-0.91 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of ServisFirst Bancshares Inc:

The MRQ is -0.912.
The TTM is -0.346.

Trends

Current period		Compared to		+/-
MRQ	-0.912	TTM	-0.346	-0.566
TTM	-0.346	YOY	0.541	-0.887
TTM	-0.346	5Y	0.148	-0.494
5Y	0.148	10Y	0.277	-0.129

Measures how efficient ServisFirst Bancshares Inc is keeping operating costs low.

If the operating ratio is below 1 that means the company is making money. The lower the operating ratio, the more efficient the company.

How to use operating ratio

Lower is better.
Below 1 is considered healthy but always compare ServisFirst Bancshares Inc to the Banks - Regional industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use operating ratio in their analysis

Shows if costs of creating products and or services is increasing or decreasing. The lower the operating ratio, the more efficient the company is creating products and services.

The three steps every investor should look at:

What is the current Operatin ratio?
The current most recent quarter (MRQ) Operating Ratio of ServisFirst Bancshares Inc is -91.2%. This means that ServisFirst Bancshares Inc earned $-0.91 for each $1 in net sales in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Ratio of the Banks - Regional industry is .
What is the trend?
The trend is important because it shows you how ServisFirst Bancshares Inc is performing over time. The most recent quarter might be important if ServisFirst Bancshares Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for ServisFirst Bancshares Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
You need COGS to calculate operating ratio which is not always shown in the income statement.
Does not consider debt.

How to calculate operating ratio

Operating ratio = Operating expenses + COGS \ Net sales

Real life example ServisFirst Bancshares Inc

You need the following data to determine operating ratio:

Income statement

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

(cost of revenue + total operating expenses) \ total revenue
( +-226,111) \ 226,710 = -0.91

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 ServisFirst Bancshares Inc.

1.3. Liquidity

1.3.1. Current Ratio

Measures if ServisFirst Bancshares Inc is able to pay off Short-term Debt.

Above 1.5 is considered healthy (always compare to Banks - Regional industry mean).
A Current Ratio of 0.15 means the company has $0.15 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of ServisFirst Bancshares Inc:

The MRQ is 0.154. The company is unable to pay all its short-term debts. -2
The TTM is 30.835. The company is very able to pay all its short-term debts. +2

Trends

Current period		Compared to		+/-
MRQ	0.154	TTM	30.835	-30.680
TTM	30.835	YOY	84.545	-53.710
TTM	30.835	5Y	76.159	-45.324
5Y	76.159	10Y	89.755	-13.596

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
TTM	30.835	0.124	+30.711
YOY	84.545	0.225	+84.320
5Y	76.159	0.219	+75.940
10Y	89.755	0.131	+89.624

Measures if ServisFirst Bancshares Inc is able to pay off Short-term Debt.

How to use current ratio

Higher is better
Above 1.5 is considered healthy (always compare to Banks - Regional industry mean).
Can be very different between industries
Can be used to compare companies

Why do investors use current ratio in their analysis

Shows if the company can pay of short term debts if needed. A company that can't pay off it's short term debts might get in trouble if they have to pay off their short term debts for whatever reason. For example, markets can change due to global events like covid-19 or the war in Ukraine versus Russia. Because debts are always taken based on future income, it might become troublesome for ServisFirst Bancshares Inc if something happens in the market that will cause sales to plummet.

The three steps every investor should look at:

What is the current current Ratio?
The current most recent quarter (MRQ) Current Ratio of ServisFirst Bancshares Inc is 0.15. This means ServisFirst Bancshares Inc has $0.15 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Banks - Regional industry is .
What is the trend?
The trend is important because it shows you how ServisFirst Bancshares Inc is performing over time. The most recent quarter might be important if ServisFirst Bancshares Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for ServisFirst Bancshares Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Might be deluded.
Not all assets can always be quickly sold.
Can be manipulated by increasing or decreasing the assets and/or liabilities.

How to calculate current ratio

Current ratio = current assets \ current liabilities

Real life example ServisFirst Bancshares Inc

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
1,152,637 \ ) = 0.15

The current ratio measures if ServisFirst Bancshares Inc is able to pay short-term debts (obligations). Short term in this context means all debt obligations that are about to expire within one year. The current ratio incorporates current liabilities and current assets. Current assets are all the assets a company has that are expected to be consumed or sold within standard business operations. You can find the current assets in the balance sheet. They consist of:

Inventory
Accounts receivable
Marketable securities
Prepaid expenses
Cash
Cash equivalents
liquid assets

The current liabilities are short term obligations that are due within one year. These consist of:

Short term debts
Dividends
Income taxes
Short-term debts
Accounts payable
Interest payments

The result shows an investor if ServisFirst Bancshares Inc is able to pay all its short-term debts if they were due all at once. When the result of the above formula is below 1, then ServisFirst Bancshares Inc does not have enough capital after selling all its assets to pay all short-term debts. If the ratio drops far below 1 that might indicate ServisFirst Bancshares Inc is or will be in financial trouble anytime soon.

Although this gives an investor some clues, the current ratio may also be deluded. Because owning assets does not mean the company can easily sell them. Also, Accounts receivable may be quite old (they will probably never pay) which deludes the current ratio. As with all ratios, you should only compare them between the same industries and companies.

1.3.2. Quick Ratio

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

Above 1 is considered healthy but always compare ServisFirst Bancshares Inc to the Banks - Regional industry mean.
A Quick Ratio of 0.14 means the company can pay off $0.14 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of ServisFirst Bancshares Inc:

The MRQ is 0.140. The company is just not able to pay all its short-term debts with the most liquid assets. -1
The TTM is 59.366. The company is very able to pay all its short-term debts with the most liquid assets. +2

Trends

Current period		Compared to		+/-
MRQ	0.140	TTM	59.366	-59.226
TTM	59.366	YOY	194.614	-135.249
TTM	59.366	5Y	222.948	-163.582
5Y	222.948	10Y	269.126	-46.178

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

How to use quick ratio

Higher is better.
Above 1 is considered healthy but always compare ServisFirst Bancshares Inc to the Banks - Regional industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use quick ratio in their analysis

Shows how fast ServisFirst Bancshares Inc can pay off its short term debts. This shows if ServisFirst Bancshares Inc can survive emergencies due to market changes or other reasons.

The three steps every investor should look at:

What is the current Quick Ratio?
The current most recent quarter (MRQ) quickRatio of ServisFirst Bancshares Inc is 0.14. This means that ServisFirst Bancshares Inc can pay off $0.14 for each $1 in debt (using most liquid assets).
How does it compare to the industry?
The mean MRQ Quick Ratio of the Banks - Regional industry is .
What is the trend?
The trend is important because it shows you how ServisFirst Bancshares Inc is performing over time. The most recent quarter might be important if ServisFirst Bancshares Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for ServisFirst Bancshares Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Incorporates only most liquid assets.

How to calculate quick ratio

Quick ratio = cash and equivalents + marketable securities + accounts receivable / current liabilities

Real life example ServisFirst Bancshares Inc

You need the following data to determine operating ratio:

Balance sheet
Quick ratio = cash and short-term investments + short-term investments + netReceivables / total current liabilities
MRQ quick ratio ServisFirst Bancshares Inc: (1,152,637 + 1,073,929 +) / = 0.14

The quick ratio measures the same thing as the current ratio, only it uses the most liquid assets a company has. Meaning, the assets that can be sold for cash the easiest and fastest.

As the quick ratio only incorporates the most liquid assets, you should also check the current ratio which also includes less liquid assets. But they may be harder to sell.

1.4. Solvency of ServisFirst Bancshares Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of ServisFirst Bancshares Inc assets are financed with debt.

Below 1 (100%) is considered healthy but always compare ServisFirst Bancshares Inc to Banks - Regional industry mean.
A Debt to Asset Ratio of 0.91 means that ServisFirst Bancshares Inc assets are financed with 91.1% credit (debt) and the remaining percentage (100% - 91.1%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of ServisFirst Bancshares Inc:

The MRQ is 0.911. The company is just able to pay all its debts by selling its assets.
The TTM is 0.457. The company is very able to pay all its debts by selling its assets. +2

Trends

Current period		Compared to		+/-
MRQ	0.911	TTM	0.457	+0.454
TTM	0.457	YOY	0.915	-0.459
TTM	0.457	5Y	0.823	-0.367
5Y	0.823	10Y	0.866	-0.043

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	0.911	0.915	-0.004
TTM	0.457	0.917	-0.460
YOY	0.915	0.919	-0.004
5Y	0.823	0.919	-0.096
10Y	0.866	0.927	-0.061

Measures how much % of ServisFirst Bancshares Inc assets are financed with debt.

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

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare ServisFirst Bancshares Inc to Banks - Regional industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to asset ratio in their analysis

It shows how much debt the company used to finance its assets. If a company is almost entirely financed with debt that means the company might get into serious trouble when emergencies arise like a raise in interest.

The three steps every investor should look at:

What is the current debt to asset ratio?
The current most recent quarter (MRQ) Debt to Asset Ratio of ServisFirst Bancshares Inc is 0.91. This means means that ServisFirst Bancshares Inc is financed with 91.1% credit and the remaining percentage is financed by it's owners (shareholders).
How does it compare to the industry?
The mean MRQ Current Ratio of the Banks - Regional industry is .
What is the trend?
The trend is important because it shows you how ServisFirst Bancshares Inc is performing over time. The most recent quarter might be important if ServisFirst Bancshares Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for ServisFirst Bancshares Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Some companies can have higher debt to assets ratio's (for example, banks).
Debt to asset ratio should improve over the years.
If the debt to asset ratio is above 1, look at the industry mean and find out why ServisFirst Bancshares Inc has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example ServisFirst Bancshares Inc

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

Balance sheet
Debt to asset ratio = total debt \ total assets
\ 15,721,630 = 91.1% or 0.91.

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 ServisFirst Bancshares Inc is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare ServisFirst Bancshares Inc to the Banks - Regional industry mean.
A Debt to Equity ratio of 1,021.2% means that company has $10.21 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of ServisFirst Bancshares Inc:

The MRQ is 10.212. The company is unable to pay all its debts with equity. -1
The TTM is 5.045. The company is unable to pay all its debts with equity. -1

Trends

Current period		Compared to		+/-
MRQ	10.212	TTM	5.045	+5.167
TTM	5.045	YOY	10.870	-5.824
TTM	5.045	5Y	9.680	-4.634
5Y	9.680	10Y	9.861	-0.181

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	10.212	10.829	-0.617
TTM	5.045	11.013	-5.968
YOY	10.870	11.363	-0.493
5Y	9.680	11.437	-1.757
10Y	9.861	13.038	-3.177

Measures if ServisFirst Bancshares Inc is able to pay off its debts by using shareholders equity.

How to use debt to equity ratio

Lower is better.
Below 2 is considered healthy (always use industry average).
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to shareholders equity ratio in their analysis

It shows how much debt the company uses to finance their operations. Shareholders equity is whats left over when you subtract total liabilities from total assets. It's another way to meassure how much of ServisFirst Bancshares Inc is financed with debt or own resources.

The three steps every investor should look at:

What is the current debt to equity ratio?
The current most recent quarter (MRQ) quickRatio of ServisFirst Bancshares Inc is 10.21. This means that ServisFirst Bancshares Inc can pay off $10.21 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Banks - Regional industry is 10.83.
What is the trend?
The trend is important because it shows you how ServisFirst Bancshares Inc is performing over time. The most recent quarter might be important if ServisFirst Bancshares Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for ServisFirst Bancshares Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Not all debt is equally risky (for example, short term risk is less risky).

How to calculate debt to equity ratio

Debt to equity ratio = total debt \ shareholders equity.

Real life example ServisFirst Bancshares Inc

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
\ 1,475,536 = 10.21 or 1,021.2%

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 ServisFirst Bancshares Inc

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings ServisFirst Bancshares Inc generates.

Above 15 is considered overpriced but always compare ServisFirst Bancshares Inc to the Banks - Regional industry mean.
A PE ratio of 21.59 means the investor is paying $21.59 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of ServisFirst Bancshares Inc:

The EOD is 19.216. Based on the earnings, the company is fair priced.
The MRQ is 21.591. Based on the earnings, the company is fair priced.
The TTM is 14.552. Based on the earnings, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	19.216	MRQ	21.591	-2.375
MRQ	21.591	TTM	14.552	+7.039
TTM	14.552	YOY	17.696	-3.144
TTM	14.552	5Y	15.066	-0.514
5Y	15.066	10Y	21.938	-6.872

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
EOD	19.216	7.690	+11.526
MRQ	21.591	6.680	+14.911
TTM	14.552	5.295	+9.257
YOY	17.696	6.943	+10.753
5Y	15.066	9.770	+5.296
10Y	21.938	9.943	+11.995

Measures how much money you pay for each share for every $1 in earnings ServisFirst Bancshares Inc generates.

Indicates if the company’s shares are under or overvalued.

How to use PE ratio

Above 15 is considered overpriced but is hard to determine. Always compare ServisFirst Bancshares Inc to the Banks - Regional industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use PE ratio in their analysis

The PE ratio tells investors the current sentiment in the market for that company. As with every stock, the stock price never shows the real valuation of a company but rather how the market thinks how much the stock is worth.

In other words, the current stock price also incorporates any future earnings or business opportunities in the future. The best example is the stock market crash in 2000. The PE ratio for any internet based company was going through the roof. Only based on the general assumption the internet and all associated businesses would thrive in the future. But this was based on nothing. A business still needs a good product or service to be able to survive. Instead, every investor bought any stock which did something related to the internet. Result: huge market crash.

Many investors were willing to pay premium prices and that was causing the PE ratio to rise. A high PE ratio is a warning sign that investors might be overvaluing a stock based on future earnings.

The three steps every investor should look at:

What is the current PE Ratio?
The current most recent quarter (MRQ) PE Ratio of ServisFirst Bancshares Inc is 21.59. This means the investor is paying $21.59 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Banks - Regional industry is 6.68.
What is the trend?
The trend is important because it shows you how ServisFirst Bancshares Inc is performing over time. The most recent quarter might be important if ServisFirst Bancshares Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for ServisFirst Bancshares Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Some industries might have very high or very low PE ratios in general.
PE ratios can be high for several years, it does not mean a sudden collapse is imminent.
Earnings growth is not included in the PE ratio.

How to calculate PE ratio

PE ratio = market value per share \ earnings per share

Real life example ServisFirst Bancshares Inc

You need the following data to determine the PE ratio:

Balance sheet
Income statement

The PE ratio is a very commonly used ratio to determine the value of a company by comparing the current stock price relative to its earnings per share (EPS). Before we can calculate the PE ratio we need to know the EPS. EPS is calculated as follows:

EPS = (net profit - preferred dividends) \ end of period outstanding shares*
Net profit = revenue - expenses
\ 54,376 = EPS
PE ratio MRQ = 21.59

* 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 ServisFirst Bancshares Inc:

The EOD is 9.184. Based on how much money comes from the company's main activities, the company is cheap. +2
The MRQ is 10.320. Based on how much money comes from the company's main activities, the company is cheap. +2
The TTM is 24.856. Based on how much money comes from the company's main activities, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	9.184	MRQ	10.320	-1.135
MRQ	10.320	TTM	24.856	-14.536
TTM	24.856	YOY	16.564	+8.292
TTM	24.856	5Y	17.291	+7.565
5Y	17.291	10Y	25.429	-8.139

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
EOD	9.184	-2.150	+11.334
MRQ	10.320	-1.868	+12.188
TTM	24.856	-0.342	+25.198
YOY	16.564	6.448	+10.116
5Y	17.291	0.429	+16.862
10Y	25.429	0.091	+25.338

2. Book Value per Share

2.3. Price to Book Ratio

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

At or below 1 is considered healthy (always compare to Banks - Regional industry mean).
A PB ratio of 2.52 means the investor is paying $2.52 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of ServisFirst Bancshares Inc:

The EOD is 2.245. Based on the equity, the company is underpriced. +1
The MRQ is 2.523. Based on the equity, the company is underpriced. +1
The TTM is 1.268. Based on the equity, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	2.245	MRQ	2.523	-0.278
MRQ	2.523	TTM	1.268	+1.254
TTM	1.268	YOY	3.597	-2.329
TTM	1.268	5Y	2.581	-1.313
5Y	2.581	10Y	3.480	-0.899

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
EOD	2.245	0.444	+1.801
MRQ	2.523	0.386	+2.137
TTM	1.268	0.470	+0.798
YOY	3.597	0.642	+2.955
5Y	2.581	0.795	+1.786
10Y	3.480	1.025	+2.455

2. Total Gains per Share

3. Holders & Insider Transactions

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

3.1. Institutions holding ServisFirst Bancshares Inc

Institutions are holding 70.17% of the shares of ServisFirst Bancshares Inc.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	BlackRock Inc	14.3695	0.0133	7832493	318955	4.2451
2023-12-31	Vanguard Group Inc	10.0502	0.008	5478138	47885	0.8818
2023-12-31	Kayne Anderson Rudnick Investment Management LLC	5.9754	0.543	3257068	-185244	-5.3814
2023-12-31	State Street Corporation	4.2686	0.0076	2326725	204888	9.6562
2023-12-31	Davis Asset Management, L.P.	3.0218	2.6799	1647124	743562	82.2923
2023-12-31	JPMorgan Chase & Co	2.7888	0.0097	1520123	-61336	-3.8784
2024-03-31	Welch Group, LLC	2.3378	4.1936	1274271	-25202	-1.9394
2023-12-31	Dimensional Fund Advisors, Inc.	2.0852	0.0221	1136579	47457	4.3574
2023-12-31	Champlain Investment Partners, LLC	1.9706	0.4243	1074152	84883	8.5804
2023-12-31	Geode Capital Management, LLC	1.9475	0.0074	1061560	48820	4.8206
2023-12-31	Principal Financial Group Inc	1.6746	0.0388	912769	-32068	-3.394
2023-12-31	Wasatch Advisors LP	1.5359	0.3073	837189	40866	5.1318
2023-12-31	Morgan Stanley - Brokerage Accounts	1.1575	0.0037	630929	66133	11.7092
2023-12-31	Northern Trust Corp	1.1366	0.0075	619558	11784	1.9389
2023-12-31	NORGES BANK	0.9941	0.0063	541844	90208	19.9736
2023-12-31	Bank of New York Mellon Corp	0.8907	0.0066	485511	-16090	-3.2077
2023-12-31	Bragg Financial Advisors Inc	0.7491	1.2941	408341	1387	0.3408
2023-12-31	Charles Schwab Investment Management Inc	0.7394	0.0068	403032	14739	3.7958
2023-12-31	T. Rowe Price Associates, Inc.	0.7152	0.0035	389817	56626	16.9951
2023-12-31	Wells Fargo & Co	0.6059	0.0057	330279	-39224	-10.6153
Total		59.0144	9.5892	32167502	+1419029	+4.4%

3.2. Funds holding ServisFirst Bancshares Inc

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2024-03-28	iShares Core S&P Small-Cap ETF	6.07	0.2733	3308635	-11677	-0.3517
2023-12-31	Virtus KAR Small-Cap Growth I	4.216	4.614	2298065	-180000	-7.2637
2024-02-29	Vanguard Total Stock Mkt Idx Inv	2.8297	0.0063	1542384	-4758	-0.3075
2024-03-31	Vanguard Small Cap Index	2.2939	0.0564	1250379	-12433	-0.9845
2024-03-28	iShares Russell 2000 ETF	2.2902	0.1265	1248325	603	0.0483
2024-03-31	Champlain Small Company Fund, LLC	1.9864	1.5595	1082767	-10790	-0.9867
2024-02-29	JPMorgan Small Cap Equity A	1.5769	1.1176	859557	0	0
2024-03-31	JPM US Small Cap Core-Composite	1.5457	1.1259	842519	-25481	-2.9356
2024-03-31	Vanguard Institutional Extnd Mkt Idx Tr	1.3419	0.0461	731460	9147	1.2663
2024-01-31	Fidelity Small Cap Index	0.9471	0.1398	516248	8235	1.621
2023-12-31	Champlain Small Company Adv	0.8072	1.1971	440000	50200	12.8784
2024-03-28	SPDR® Portfolio S&P 600 Sm Cap ETF	0.796	0.2738	433907	445	0.1027
2023-12-31	Wasatch Small Cap Value	0.7905	2.01	430898	0	0
2024-03-31	Vanguard Small Cap Value Index Inv	0.7745	0.0502	422148	-9487	-2.1979
2024-03-31	FPA Queens Road Small Cap Value Inv	0.7059	3.5883	384754	0	0
2024-03-31	Vanguard Tax-Managed Small Cap Adm	0.6896	0.2744	375904	-6844	-1.7881
2024-02-29	DFA US Small Cap I	0.6883	0.1528	375160	0	0
2024-03-31	Vanguard Small Cap Growth Index Inv	0.6493	0.0646	353908	-410	-0.1157
2024-03-28	iShares S&P Small-Cap 600 Value ETF	0.5979	0.2994	325916	-2141	-0.6526
2024-03-28	iShares Russell 2000 Value ETF	0.5811	0.1676	316731	-201	-0.0634
Total		32.1781	17.1436	17539665	-195592	-1.1%

4. Summary

4.1. Key Performance Indicators

The key performance indicators of ServisFirst Bancshares Inc compared to the Most Recent Quarter (MRQ).

	End of day	+/-	Most Recent Quarter	Trailing 12 Months	+/-	Year-Over-Year	+/-	5 Year	+/-	10 Year	+/-
Book Value Change Per Share	-	-	-266.626	0.653	-40917%	0.666	-40126%	0.665	-40221%	0.524	-50983%
Book Value Per Share	-	-	26.412	154.839	-83%	22.579	+17%	45.837	-42%	27.620	-4%
Current Ratio	-	-	0.154	30.835	-99%	84.545	-100%	76.159	-100%	89.755	-100%
Debt To Asset Ratio	-	-	0.911	0.457	+99%	0.915	-1%	0.823	+11%	0.866	+5%
Debt To Equity Ratio	-	-	10.212	5.045	+102%	10.870	-6%	9.680	+6%	9.861	+4%
Dividend Per Share	-	-	0.280	0.210	+33%	0.173	+62%	0.155	+81%	0.100	+181%
Eps	-	-	0.772	0.948	-19%	1.153	-33%	0.903	-15%	0.647	+19%
Free Cash Flow Per Share	-	-	1.614	0.877	+84%	1.233	+31%	0.980	+65%	0.706	+129%
Free Cash Flow To Equity Per Share	-	-	1.659	6.921	-76%	-3.518	+312%	7.548	-78%	5.759	-71%
Gross Profit Margin	-	-	0.982	0.995	-1%	0.998	-2%	0.998	-2%	0.999	-2%
Intrinsic Value_10Y_max	-	-	58.941	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	34.006	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	4.611	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	2.942	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	14.842	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	9.295	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	26.263	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	16.099	-	-	-	-	-	-	-	-
Market Cap	3232312540.000	-12%	3633688038.450	2922057298.515	+24%	4405206760.680	-18%	3019742728.839	+20%	2597479124.770	+40%
Net Profit Margin	-	-	0.184	0.310	-41%	0.499	-63%	0.449	-59%	0.422	-56%
Operating Margin	-	-	-0.002	0.542	-100%	0.785	-100%	0.732	-100%	0.707	-100%
Operating Ratio	-	-	-0.912	-0.346	-62%	0.541	-269%	0.148	-716%	0.277	-430%
Pb Ratio	2.245	-12%	2.523	1.268	+99%	3.597	-30%	2.581	-2%	3.480	-28%
Pe Ratio	19.216	-12%	21.591	14.552	+48%	17.696	+22%	15.066	+43%	21.938	-2%
Price Per Share	59.300	-12%	66.630	53.588	+24%	80.780	-18%	55.389	+20%	47.648	+40%
Price To Free Cash Flow Ratio	9.184	-12%	10.320	24.856	-58%	16.564	-38%	17.291	-40%	25.429	-59%
Price To Total Gains Ratio	-0.223	+11%	-0.250	13.750	-102%	109.823	-100%	60.296	-100%	72.719	-100%
Quick Ratio	-	-	0.140	59.366	-100%	194.614	-100%	222.948	-100%	269.126	-100%
Return On Assets	-	-	0.003	0.003	-23%	0.004	-40%	0.004	-33%	0.004	-31%
Return On Equity	-	-	0.029	0.037	-22%	0.051	-43%	0.046	-36%	0.043	-32%
Total Gains Per Share	-	-	-266.346	0.863	-30959%	0.839	-31847%	0.819	-32616%	0.624	-42817%
Usd Book Value	-	-	1440405000.000	8441968500.000	-83%	1231344500.000	+17%	2499000250.000	-42%	1505774100.000	-4%
Usd Book Value Change Per Share	-	-	-266.626	0.653	-40917%	0.666	-40126%	0.665	-40221%	0.524	-50983%
Usd Book Value Per Share	-	-	26.412	154.839	-83%	22.579	+17%	45.837	-42%	27.620	-4%
Usd Dividend Per Share	-	-	0.280	0.210	+33%	0.173	+62%	0.155	+81%	0.100	+181%
Usd Eps	-	-	0.772	0.948	-19%	1.153	-33%	0.903	-15%	0.647	+19%
Usd Free Cash Flow	-	-	88029001.000	47833500.250	+84%	67244250.000	+31%	53404850.050	+65%	38485475.025	+129%
Usd Free Cash Flow Per Share	-	-	1.614	0.877	+84%	1.233	+31%	0.980	+65%	0.706	+129%
Usd Free Cash Flow To Equity Per Share	-	-	1.659	6.921	-76%	-3.518	+312%	7.548	-78%	5.759	-71%
Usd Market Cap	3232312540.000	-12%	3633688038.450	2922057298.515	+24%	4405206760.680	-18%	3019742728.839	+20%	2597479124.770	+40%
Usd Price Per Share	59.300	-12%	66.630	53.588	+24%	80.780	-18%	55.389	+20%	47.648	+40%
Usd Profit	-	-	42074000.000	51713250.000	-19%	62868250.000	-33%	49243600.000	-15%	35249775.000	+19%
Usd Revenue	-	-	229062000.000	183355750.000	+25%	126062750.000	+82%	116770450.000	+96%	84741550.000	+170%
Usd Total Gains Per Share	-	-	-266.346	0.863	-30959%	0.839	-31847%	0.819	-32616%	0.624	-42817%
	EOD	+5 -3	MRQ	TTM	+11 -25	YOY	+17 -19	5Y	+12 -24	10Y	+16 -20

4.2. Fundamental Score

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

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	19.216
Price to Book Ratio (EOD)	Between	0-1	2.245
Net Profit Margin (MRQ)	Greater than	0	0.184
Operating Margin (MRQ)	Greater than	0	-0.002
Quick Ratio (MRQ)	Greater than	1	0.140
Current Ratio (MRQ)	Greater than	1	0.154
Debt to Asset Ratio (MRQ)	Less than	1	0.911
Debt to Equity Ratio (MRQ)	Less than	1	10.212
Return on Equity (MRQ)	Greater than	0.15	0.029
Return on Assets (MRQ)	Greater than	0.05	0.003
Total			2/10 (20.0%)

Create your own Stock Scanner

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

4.3. Technical Score

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

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	41.393
Ma 20	Greater than	Ma 50	61.296
Ma 50	Greater than	Ma 100	62.649
Ma 100	Greater than	Ma 200	63.076
Open	Greater than	Close	61.000
Total			2/5 (40.0%)

Create your own Symbol Scanner

Trading is personal. The best traders buy and sell based on their own technical analysis. Create your personal Symbol Scanner with the technical indicators that are important to you.
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 Liabilities	-18,615	-1,926	-20,541	-2,520	-23,061	-1,622	-24,683	12,963,846	12,939,163
Long-term Assets Other	-1,739,384	31,781	-1,707,603	-406,259	-2,113,862	169,132	-1,944,730	13,798,443	11,853,713
Net Working Capital	732,517	11,065	743,582	331,529	1,075,111	-152,842	922,269	-12,932,100	-12,009,831

Latest Balance Sheet

Balance Sheet of 2024-03-31. Currency in USD. All numbers in thousands.

Summary

Total Assets	15,721,630
Total Liabilities	-
Total Stockholder Equity	1,475,536

	As reported
Total Liabilities	-
Total Stockholder Equity	+ 1,475,536
Total Assets	= 15,721,630

Assets

Total Assets	15,721,630
Total Current Assets	1,152,637
Long-term Assets	72,917

Total Current Assets

Total Current Assets (as reported)	1,152,637
Cash And Cash Equivalents	78,708
Short-term Investments	1,073,929
Total Current Assets (calculated)	1,152,637
+/-	0

Long-term Assets

Long-term Assets (as reported)	72,917
Property Plant Equipment	59,302
Goodwill	13,615
Long-term Assets (calculated)	72,917
+/-	0

Liabilities & Shareholders' Equity

Total Current Liabilities	-
Long-term Liabilities	-
Total Stockholder Equity	1,475,536

Total Current Liabilities

Total Current Liabilities (as reported)	0
Total Current Liabilities (calculated)	0
+/-	0

Long-term Liabilities

Long-term Liabilities (as reported)	0
Long-term Liabilities (calculated)	0
+/-	0

Total Stockholder Equity

Total Stockholder Equity (as reported)	1,475,536
Common Stock	54
Retained Earnings	1,288,514
Accumulated Other Comprehensive Income	-46,592
Other Stockholders Equity	233,560
Total Stockholder Equity (calculated)	1,475,536
+/-	0

Other

Cash and Short Term Investments	1,152,637
Common Stock Shares Outstanding	54,376
Liabilities and Stockholders Equity	15,721,630
Net Debt	-78,708

Balance Sheet

Currency in USD. All numbers in thousands.

Trend

2024-03-31

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

> Total Assets

960,215
973,110
1,064,908
1,162,272
1,255,500
1,342,400
1,502,200
1,573,500
1,527,500
1,681,800
1,776,500
1,935,166
1,862,949
2,024,597
2,257,330
2,460,785
2,531,484
2,570,243
2,763,234
2,906,314
2,861,758
3,140,626
3,396,153
3,520,699
3,572,914
3,762,684
3,952,799
4,098,679
4,393,342
4,492,539
4,772,601
5,095,509
5,378,599
5,646,055
6,002,621
6,370,448
6,336,165
6,329,599
6,712,103
7,082,384
7,011,735
7,084,562
7,517,833
8,007,382
8,310,836
8,740,237
9,005,112
8,947,653
9,364,882
11,012,195
11,394,874
11,932,654
12,647,374
13,207,319
14,602,228
15,448,806
15,339,419
14,494,317
13,890,030
14,595,753
14,566,559
15,072,808
16,044,332
16,145,174
15,721,630

15,721,630

16,145,174

16,044,332

15,072,808

14,566,559

14,595,753

13,890,030

14,494,317

15,339,419

15,448,806

14,602,228

13,207,319

12,647,374

11,932,654

11,394,874

11,012,195

9,364,882

8,947,653

9,005,112

8,740,237

8,310,836

8,007,382

7,517,833

7,084,562

7,011,735

7,082,384

6,712,103

6,329,599

6,336,165

6,370,448

6,002,621

5,646,055

5,378,599

5,095,509

4,772,601

4,492,539

4,393,342

4,098,679

3,952,799

3,762,684

3,572,914

3,520,699

3,396,153

3,140,626

2,861,758

2,906,314

2,763,234

2,570,243

2,531,484

2,460,785

2,257,330

2,024,597

1,862,949

1,935,166

1,776,500

1,681,800

1,527,500

1,573,500

1,502,200

1,342,400

1,255,500

1,162,272

1,064,908

973,110

960,215

> Total Current Assets

19,155
26,994
28,434
22,844
127,119
134,651
163,705
1,568,997
27,113
32,714
37,205
238,622
28,229
34,810
339,979
43,018
342,018
346,897
286,082
58,031
272,432
297,122
337,822
61,370
365,413
380,833
372,668
48,519
383,186
367,621
369,713
46,614
404,697
389,516
423,286
56,855
525,000
526,759
535,090
86,213
645,808
673,268
680,468
97,516
729,752
753,447
822,248
78,618
860,582
875,988
1,020,128
93,655
1,068,334
1,119,262
859,452
5,041,125
888,112
2,348,169
914,814
751,132
764,123
1,098,172
946,952
2,191,264
1,152,637

1,152,637

2,191,264

946,952

1,098,172

764,123

751,132

914,814

2,348,169

888,112

5,041,125

859,452

1,119,262

1,068,334

93,655

1,020,128

875,988

860,582

78,618

822,248

753,447

729,752

97,516

680,468

673,268

645,808

86,213

535,090

526,759

525,000

56,855

423,286

389,516

404,697

46,614

369,713

367,621

383,186

48,519

372,668

380,833

365,413

61,370

337,822

297,122

272,432

58,031

286,082

346,897

342,018

43,018

339,979

34,810

28,229

238,622

37,205

32,714

27,113

1,568,997

163,705

134,651

127,119

22,844

28,434

26,994

19,155

Cash And Cash Equivalents

19,155
26,994
28,434
22,844
17,925
18,474
20,918
26,982
20,449
26,570
30,371
231,632
37,180
102,914
93,363
142,368
137,581
71,334
244,673
177,454
45,758
190,018
257,490
249,781
211,957
276,883
337,467
297,464
299,679
118,835
216,463
317,450
525,637
472,688
610,613
623,562
338,174
205,875
166,150
238,062
118,223
150,086
136,788
458,050
618,094
477,893
572,429
530,127
378,404
1,546,575
1,622,069
2,209,640
2,808,153
3,173,276
4,399,786
4,163,724
3,418,751
1,587,149
406,010
814,538
864,493
959,734
1,974,074
2,030,513
78,708

78,708

2,030,513

1,974,074

959,734

864,493

814,538

406,010

1,587,149

3,418,751

4,163,724

4,399,786

3,173,276

2,808,153

2,209,640

1,622,069

1,546,575

378,404

530,127

572,429

477,893

618,094

458,050

136,788

150,086

118,223

238,062

166,150

205,875

338,174

623,562

610,613

472,688

525,637

317,450

216,463

118,835

299,679

297,464

337,467

276,883

211,957

249,781

257,490

190,018

45,758

177,454

244,673

71,334

137,581

142,368

93,363

102,914

37,180

231,632

30,371

26,570

20,449

26,982

20,918

18,474

17,925

22,844

28,434

26,994

19,155

Short-term Investments

88,975
91,773
90,139
0
105,260
111,814
137,624
0
0
0
0
0
0
0
296,826
0
296,224
296,508
236,582
233,877
229,434
227,770
256,385
266,220
277,501
294,254
302,303
298,813
307,379
305,985
306,666
342,938
334,567
321,044
351,417
422,375
453,956
438,808
435,325
538,080
560,635
583,549
578,021
590,184
631,696
657,971
688,021
759,399
826,782
856,128
913,049
886,688
961,879
1,013,533
723,324
842,570
784,673
724,463
665,763
644,815
624,948
990,921
834,802
900,183
1,073,929

1,073,929

900,183

834,802

990,921

624,948

644,815

665,763

724,463

784,673

842,570

723,324

1,013,533

961,879

886,688

913,049

856,128

826,782

759,399

688,021

657,971

631,696

590,184

578,021

583,549

560,635

538,080

435,325

438,808

453,956

422,375

351,417

321,044

334,567

342,938

306,666

305,985

307,379

298,813

302,303

294,254

277,501

266,220

256,385

227,770

229,434

233,877

236,582

296,508

296,224

296,826

137,624

111,814

105,260

90,139

91,773

88,975

Net Receivables

3,936
3,979
4,068
0
3,934
4,363
5,163
6,200
6,664
6,144
6,834
6,990
7,358
6,847
7,529
8,192
7,975
8,057
9,188
9,158
9,154
9,101
9,604
10,262
10,370
9,686
10,882
11,214
11,991
11,905
12,566
13,698
13,416
13,487
14,648
15,801
16,051
16,770
20,334
20,661
20,261
21,375
24,755
24,070
26,998
26,635
25,423
26,262
25,314
30,928
36,607
36,841
36,348
33,130
33,815
34,831
34,388
36,557
39,946
48,422
50,500
50,183
56,500
59,181
0

59,181

56,500

50,183

50,500

48,422

39,946

36,557

34,388

34,831

33,815

33,130

36,348

36,841

36,607

30,928

25,314

26,262

25,423

26,635

26,998

24,070

24,755

21,375

20,261

20,661

20,334

16,770

16,051

15,801

14,648

13,487

13,416

13,698

12,566

11,905

11,991

11,214

10,882

9,686

10,370

10,262

9,604

9,101

9,154

9,158

9,188

8,057

7,975

8,192

7,529

6,847

7,358

6,990

6,834

6,144

6,664

6,200

5,163

4,363

3,934

4,068

3,979

3,936

Other Current Assets

0
0
0
0
0
0
0
1,542,015
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
54,098
3,401,920
3,687,183
3,865,526
4,016,295
4,129,388
4,452,755
4,608,567
4,767,437
4,939,606
5,083,429
5,497,679
5,672,598
5,677,429
5,671,877
6,126,710
6,271,729
6,330,057
6,848,008
6,960,152
6,801,541
7,237,247
7,652,555
7,840,601
7,843,670
7,808,552
7,892,086
8,386,045
-4,141,621
-3,349,700
1,726,360
-196,905
-48,422
921,719
1,028,707
2,122,299
2,191,264
0

2,191,264

2,122,299

1,028,707

921,719

-48,422

-196,905

1,726,360

-3,349,700

-4,141,621

8,386,045

7,892,086

7,808,552

7,843,670

7,840,601

7,652,555

7,237,247

6,801,541

6,960,152

6,848,008

6,330,057

6,271,729

6,126,710

5,671,877

5,677,429

5,672,598

5,497,679

5,083,429

4,939,606

4,767,437

4,608,567

4,452,755

4,129,388

4,016,295

3,865,526

3,687,183

3,401,920

54,098

1,542,015

> Long-term Assets

6,585
7,531
7,959
101,414
8,306
9,114
8,479
4,503
9,249
8,805
6,831
290,153
11,979
12,011
9,388
4,591
10,620
11,770
12,164
8,847
17,229
19,139
17,678
8,351
19,950
20,562
23,578
7,815
46,144
50,260
56,617
34,764
58,925
60,085
62,329
55,310
88,297
93,044
96,217
73,619
84,744
84,544
84,667
72,271
98,254
96,359
95,242
70,675
58,066
57,446
96,013
68,877
102,439
112,741
106,191
1,379,465
73,523
1,863,315
72,695
73,465
73,708
73,270
73,131
13,953,910
72,917

72,917

13,953,910

73,131

73,270

73,708

73,465

72,695

1,863,315

73,523

1,379,465

106,191

112,741

102,439

68,877

96,013

57,446

58,066

70,675

95,242

96,359

98,254

72,271

84,667

84,544

84,744

73,619

96,217

93,044

88,297

55,310

62,329

60,085

58,925

34,764

56,617

50,260

46,144

7,815

23,578

20,562

19,950

8,351

17,678

19,139

17,229

8,847

12,164

11,770

10,620

4,591

9,388

12,011

11,979

290,153

6,831

8,805

9,249

4,503

8,479

9,114

8,306

101,414

7,959

7,531

6,585

Property Plant Equipment

4,070
3,965
3,884
0
3,800
4,400
5,200
5,100
4,900
4,700
4,500
4,450
4,673
4,673
4,499
4,591
4,435
6,032
5,875
8,847
8,845
8,756
8,518
8,351
8,015
7,745
7,958
7,815
16,082
15,563
18,989
19,434
20,989
23,221
25,033
40,314
46,407
51,797
55,104
58,900
58,624
58,299
57,882
57,822
57,664
57,195
56,570
56,496
55,992
55,588
55,273
54,969
56,472
67,738
60,953
60,300
59,908
59,482
59,080
59,850
60,093
59,655
59,516
85,775
59,302

59,302

85,775

59,516

59,655

60,093

59,850

59,080

59,482

59,908

60,300

60,953

67,738

56,472

54,969

55,273

55,588

55,992

56,496

56,570

57,195

57,664

57,822

57,882

58,299

58,624

58,900

55,104

51,797

46,407

40,314

25,033

23,221

20,989

19,434

18,989

15,563

16,082

7,815

7,958

7,745

8,015

8,351

8,518

8,756

8,845

8,847

5,875

6,032

4,435

4,591

4,499

4,673

4,450

4,500

4,700

4,900

5,100

5,200

4,400

3,800

3,884

3,965

4,070

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
16,053
16,150
15,947
13,617
13,617
13,617
0
13,617
0
0
0
13,617
0
0
0
13,600
0
0
0
13,600
0
0
0
0
0
0
0
0
0
0
0
13,600
0
0
13,615
13,615
13,615

13,615

13,600

13,617

15,947

16,150

16,053

Long Term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
1,803,894
2,012,878
2,143,781
2,227,998
2,349,760
2,431,645
2,631,752
2,721,536
2,848,488
3,013,757
3,145,095
3,232,618
3,367,798
3,477,600
3,669,092
3,931,376
4,182,349
4,354,256
4,565,267
4,676,367
4,861,466
5,006,295
5,365,292
5,646,755
5,829,137
6,118,335
6,355,305
6,451,945
6,675,189
6,904,955
7,079,273
7,249,868
7,590,802
7,667,262
759,649
827,032
9,125,665
9,387,492
9,315,950
9,424,385
1,013,783
984,600
1,305,527
1,617,977
1,790,218
1,714,603
1,678,936
1,646,937
2,048,227
1,878,701
1,882,847
0

1,882,847

1,878,701

2,048,227

1,646,937

1,678,936

1,714,603

1,790,218

1,617,977

1,305,527

984,600

1,013,783

9,424,385

9,315,950

9,387,492

9,125,665

827,032

759,649

7,667,262

7,590,802

7,249,868

7,079,273

6,904,955

6,675,189

6,451,945

6,355,305

6,118,335

5,829,137

5,646,755

5,365,292

5,006,295

4,861,466

4,676,367

4,565,267

4,354,256

4,182,349

3,931,376

3,669,092

3,477,600

3,367,798

3,232,618

3,145,095

3,013,757

2,848,488

2,721,536

2,631,752

2,431,645

2,349,760

2,227,998

2,143,781

2,012,878

1,803,894

Intangible 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
18,069
18,060
17,756
15,330
15,239
15,154
15,073
14,996
14,924
14,855
14,787
14,719
14,652
14,584
14,517
14,449
14,381
14,314
14,246
14,179
14,111
14,043
13,976
13,908
13,841
13,773
13,705
13,638
13,615
13,615
13,615
13,615
13,615
13,615
13,615
13,615
0

13,615

13,638

13,705

13,773

13,841

13,908

13,976

14,043

14,111

14,179

14,246

14,314

14,381

14,449

14,517

14,584

14,652

14,719

14,787

14,855

14,924

14,996

15,073

15,154

15,239

15,330

17,756

18,060

18,069

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
1,361,640
1,485,008
1,634,885
1,317,943
1,437,849
2,317,514
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

2,317,514

1,437,849

1,317,943

1,634,885

1,485,008

1,361,640

Long-term Assets Other

-92,000
-94,000
-93,000
-3,586
4,500
4,800
3,300
-259,597
4,400
4,100
2,300
-290,153
-255,594
-248,465
-315,889
-312,519
-316,726
-321,537
-261,314
-259,844
-262,103
-261,578
-289,515
-298,494
-309,475
-325,432
-332,351
-328,168
-336,505
-335,008
-334,635
-370,364
-362,106
-347,706
-377,270
-484,939
-526,013
-518,065
-522,724
-538,330
-560,885
-583,799
-578,271
-590,184
-631,946
-658,221
-688,271
-759,649
-839,069
-868,563
-913,299
-886,938
-962,129
-1,013,783
-984,600
-1,379,465
-1,661,998
-48,874
-1,769,202
-1,739,384
-1,707,603
-2,113,862
-1,944,730
11,853,713
0

11,853,713

-1,944,730

-2,113,862

-1,707,603

-1,739,384

-1,769,202

-48,874

-1,661,998

-1,379,465

-984,600

-1,013,783

-962,129

-886,938

-913,299

-868,563

-839,069

-759,649

-688,271

-658,221

-631,946

-590,184

-578,271

-583,799

-560,885

-538,330

-522,724

-518,065

-526,013

-484,939

-377,270

-347,706

-362,106

-370,364

-334,635

-335,008

-336,505

-328,168

-332,351

-325,432

-309,475

-298,494

-289,515

-261,578

-262,103

-259,844

-261,314

-321,537

-316,726

-312,519

-315,889

-248,465

-255,594

-290,153

2,300

4,100

4,400

-259,597

3,300

4,800

4,500

-3,586

-93,000

-94,000

-92,000

> Total Liabilities

885,572
898,240
988,150
1,075,489
1,164,300
1,249,500
1,405,000
1,475,900
1,425,500
1,572,800
1,660,300
1,818,066
1,740,541
1,843,396
2,067,857
2,264,493
2,326,100
2,355,375
2,538,228
2,673,057
2,604,211
2,875,437
3,119,853
3,223,507
3,260,631
3,382,610
3,559,663
3,691,466
3,951,884
4,038,052
4,341,407
4,646,362
4,907,659
5,156,958
5,494,755
5,847,559
5,791,017
5,762,513
6,121,890
6,474,780
6,382,438
6,429,448
6,836,323
7,292,179
7,565,250
7,961,280
8,194,575
8,104,971
8,482,997
10,097,607
10,445,285
10,939,802
11,616,889
12,134,035
13,487,935
14,296,791
14,166,444
13,282,399
12,647,441
13,297,857
13,226,742
64,737
64,751
14,704,769
0

14,704,769

64,751

64,737

13,226,742

13,297,857

12,647,441

13,282,399

14,166,444

14,296,791

13,487,935

12,134,035

11,616,889

10,939,802

10,445,285

10,097,607

8,482,997

8,104,971

8,194,575

7,961,280

7,565,250

7,292,179

6,836,323

6,429,448

6,382,438

6,474,780

6,121,890

5,762,513

5,791,017

5,847,559

5,494,755

5,156,958

4,907,659

4,646,362

4,341,407

4,038,052

3,951,884

3,691,466

3,559,663

3,382,610

3,260,631

3,223,507

3,119,853

2,875,437

2,604,211

2,673,057

2,538,228

2,355,375

2,326,100

2,264,493

2,067,857

1,843,396

1,740,541

1,818,066

1,660,300

1,572,800

1,425,500

1,475,900

1,405,000

1,249,500

1,164,300

1,075,489

988,150

898,240

885,572

> Total Current Liabilities

0
0
0
0
1,144,300
1,224,600
1,380,100
1,451,000
1,400,600
1,547,900
1,635,400
898
864
983
1,043
945
1,016
935
867
942
1,154
905
4,553
769
2,121
1,946
2,204
1,940
2,605
2,340
2,947
2,369
3,643
2,876
3,626
4,401
4,214
3,513
4,353
4,971
7,823
7,222
8,562
10,381
11,476
10,930
11,476
11,934
12,399
11,710
11,915
12,321
12,865
12,089
12,697
13,619
14,185
13,515
14,881
18,615
20,541
23,061
24,683
14,201,095
0

14,201,095

24,683

23,061

20,541

18,615

14,881

13,515

14,185

13,619

12,697

12,089

12,865

12,321

11,915

11,710

12,399

11,934

11,476

10,930

11,476

10,381

8,562

7,222

7,823

4,971

4,353

3,513

4,214

4,401

3,626

2,876

3,643

2,369

2,947

2,340

2,605

1,940

2,204

1,946

2,121

769

4,553

905

1,154

942

867

935

1,016

945

1,043

983

864

898

1,635,400

1,547,900

1,400,600

1,451,000

1,380,100

1,224,600

1,144,300

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
284,288
0
0
0
407,997
0
475,880
399,746
411,206
413,410
355,301
309,855
200
100
327,307
310,751
0
0
0
0
0
0
0
0
886,938
962,129
250
261,276
462,957
0
1,391,253
1,467,377
1,623,079
1,484,024
1,300,397
1,371,618
1,261,932
0

1,261,932

1,371,618

1,300,397

1,484,024

1,623,079

1,467,377

1,391,253

462,957

261,276

250

962,129

886,938

310,751

327,307

100

200

309,855

355,301

413,410

411,206

399,746

475,880

407,997

284,288

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
284,288
0
0
0
407,997
0
475,880
399,746
411,206
413,410
355,301
309,855
200
100
327,307
310,751
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

310,751

327,307

100

200

309,855

355,301

413,410

411,206

399,746

475,880

407,997

284,288

Accounts payable

0
0
0
0
1,200
1,100
1,100
1,000
900
900
900
898
864
983
1,043
945
1,016
935
867
942
1,154
905
4,553
769
2,121
1,946
2,204
1,940
2,605
2,340
2,947
2,369
3,643
2,876
3,626
4,401
4,214
3,513
4,353
4,971
7,823
7,222
8,562
10,381
11,476
10,930
11,476
11,934
12,399
11,710
11,915
12,321
12,865
12,089
12,697
13,619
14,185
13,515
14,881
18,615
20,541
23,061
24,683
27,545
0

27,545

24,683

23,061

20,541

18,615

14,881

13,515

14,185

13,619

12,697

12,089

12,865

12,321

11,915

11,710

12,399

11,934

11,476

10,930

11,476

10,381

8,562

7,222

7,823

4,971

4,353

3,513

4,214

4,401

3,626

2,876

3,643

2,369

2,947

2,340

2,605

1,940

2,204

1,946

2,121

769

4,553

905

1,154

942

867

935

1,016

945

1,043

983

864

898

900

1,000

1,100

1,200

Other Current Liabilities

0
0
0
0
1,143,100
1,223,500
1,379,000
1,450,000
1,399,700
1,547,000
1,634,500
-898
-864
-983
-1,043
-945
-1,016
-935
-867
-942
-1,154
-905
-4,553
-769
-2,121
-1,946
-2,204
-1,940
-2,605
-2,340
-2,947
-2,369
-3,643
-2,876
-3,626
-4,401
-4,214
-3,513
-4,353
-4,971
-7,823
-7,222
-8,562
-10,381
-11,476
-10,930
-11,476
-11,934
-12,399
-11,710
-11,915
-12,321
-12,865
-12,089
-12,697
-13,619
-14,185
-13,515
-14,881
-18,615
-20,541
-23,061
-24,683
12,939,163
0

12,939,163

-24,683

-23,061

-20,541

-18,615

-14,881

-13,515

-14,185

-13,619

-12,697

-12,089

-12,865

-12,321

-11,915

-11,710

-12,399

-11,934

-11,476

-10,930

-11,476

-10,381

-8,562

-7,222

-7,823

-4,971

-4,353

-3,513

-4,214

-4,401

-3,626

-2,876

-3,643

-2,369

-2,947

-2,340

-2,605

-1,940

-2,204

-1,946

-2,121

-769

-4,553

-905

-1,154

-942

-867

-935

-1,016

-945

-1,043

-983

-864

-898

1,634,500

1,547,000

1,399,700

1,450,000

1,379,000

1,223,500

1,143,100

> Long-term Liabilities

0
0
0
0
20,000
24,900
24,900
24,900
24,900
24,900
24,900
55,357
14,941
4,945
4,949
35,468
4,958
33,333
36,523
34,967
19,916
19,924
19,932
19,940
19,949
19,957
19,965
19,973
21,278
21,016
55,728
55,748
55,543
55,450
55,356
55,262
55,169
55,075
54,975
64,832
64,739
64,648
64,657
64,666
64,675
64,684
64,693
64,703
64,707
64,715
64,719
64,748
64,691
64,696
64,701
13,619
14,185
13,515
14,881
18,615
20,541
64,737
64,751
503,674
0

503,674

64,751

64,737

20,541

18,615

14,881

13,515

14,185

13,619

64,701

64,696

64,691

64,748

64,719

64,715

64,707

64,703

64,693

64,684

64,675

64,666

64,657

64,648

64,739

64,832

54,975

55,075

55,169

55,262

55,356

55,450

55,543

55,748

55,728

21,016

21,278

19,973

19,965

19,957

19,949

19,940

19,932

19,924

19,916

34,967

36,523

33,333

4,958

35,468

4,949

4,945

14,941

55,357

24,900

20,000

Long term Debt Total

0
0
0
0
0
0
0
0
0
0
0
0
0
4,945
4,949
35,468
4,958
0
0
34,967
19,916
19,924
19,932
19,940
19,949
19,957
19,965
19,973
21,278
21,016
55,728
55,637
55,543
55,450
55,356
55,262
55,169
55,075
54,975
64,832
64,739
64,648
64,657
64,666
64,675
64,684
64,693
64,703
64,707
64,715
64,719
64,748
64,691
64,696
64,701
64,706
64,711
64,716
0
0
65,417
64,737
0
0
0

64,737

65,417

64,716

64,711

64,706

64,701

64,696

64,691

64,748

64,719

64,715

64,707

64,703

64,693

64,684

64,675

64,666

64,657

64,648

64,739

64,832

54,975

55,075

55,169

55,262

55,356

55,450

55,543

55,637

55,728

21,016

21,278

19,973

19,965

19,957

19,949

19,940

19,932

19,924

19,916

34,967

4,958

35,468

4,949

4,945

Other Liabilities

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
7,867
3,754
6,876
9,453
6,831
5,061
10,614
9,545
13,879
23,941
8,702
9,018
10,943
14,809
12,630
14,366
14,484
13,283
13,881
16,042
16,075
12,402
15,134
16,477
13,913
9,237
11,659
12,699
17,376
8,276
11,613
13,802
17,020
30,825
14,414
47,785
63,030
51,629
57,808
67,472
21,832
56,179
63,798
30,220
24,609
14,972
65,532
0
0

65,532

14,972

24,609

30,220

63,798

56,179

21,832

67,472

57,808

51,629

63,030

47,785

14,414

30,825

17,020

13,802

11,613

8,276

17,376

12,699

11,659

9,237

13,913

16,477

15,134

12,402

16,075

16,042

13,881

13,283

14,484

14,366

12,630

14,809

10,943

9,018

8,702

23,941

13,879

9,545

10,614

5,061

6,831

9,453

6,876

3,754

7,867

> Total Stockholder Equity

74,643
74,870
76,758
86,783
91,200
92,900
97,200
97,600
102,000
109,000
116,200
117,100
122,408
181,201
189,473
196,292
205,384
214,868
225,006
233,257
257,547
265,189
276,300
297,192
312,031
379,822
392,884
406,961
441,081
454,110
430,817
448,770
470,563
488,720
507,489
522,512
544,646
566,584
589,711
607,102
628,795
654,612
681,008
714,701
745,084
778,455
810,035
842,180
881,383
914,086
949,089
992,352
1,029,985
1,072,784
1,113,793
1,151,515
1,172,475
1,211,418
1,242,089
1,297,396
1,339,317
1,362,971
1,400,884
1,439,905
1,475,536

1,475,536

1,439,905

1,400,884

1,362,971

1,339,317

1,297,396

1,242,089

1,211,418

1,172,475

1,151,515

1,113,793

1,072,784

1,029,985

992,352

949,089

914,086

881,383

842,180

810,035

778,455

745,084

714,701

681,008

654,612

628,795

607,102

589,711

566,584

544,646

522,512

507,489

488,720

470,563

448,770

430,817

454,110

441,081

406,961

392,884

379,822

312,031

297,192

276,300

265,189

257,547

233,257

225,006

214,868

205,384

196,292

189,473

181,201

122,408

117,100

116,200

109,000

102,000

97,600

97,200

92,900

91,200

86,783

76,758

74,870

74,643

Common Stock

0
0
5
5
6
0
6
0
0
6
6
6
6
6
6
6
6
6
6
6
7
7
7
7
8
8
25
25
26
26
26
26
26
26
26
53
53
53
53
53
53
53
53
53
53
54
54
54
54
54
54
54
54
54
54
54
54
54
54
54
54
54
54
54
54

Retained Earnings

9,652
11,402
13,127
15,087
15,800
17,400
19,000
21,000
25,000
29,000
33,800
38,343
43,214
49,059
55,095
61,581
69,737
77,968
87,170
92,492
101,631
111,217
118,391
130,011
140,538
150,769
163,414
177,091
188,507
201,303
215,982
234,150
249,704
268,765
287,568
307,151
327,029
348,517
371,127
389,597
416,311
443,972
472,681
500,868
527,853
555,425
584,968
616,611
641,980
672,984
706,924
748,224
788,875
828,048
869,731
911,008
956,169
1,005,815
1,057,387
1,109,902
1,152,681
1,190,920
1,229,080
1,254,841
1,288,514

1,288,514

1,254,841

1,229,080

1,190,920

1,152,681

1,109,902

1,057,387

1,005,815

956,169

911,008

869,731

828,048

788,875

748,224

706,924

672,984

641,980

616,611

584,968

555,425

527,853

500,868

472,681

443,972

416,311

389,597

371,127

348,517

327,029

307,151

287,568

268,765

249,704

234,150

215,982

201,303

188,507

177,091

163,414

150,769

140,538

130,011

118,391

111,217

101,631

92,492

87,170

77,968

69,737

61,581

55,095

49,059

43,214

38,343

33,800

29,000

25,000

21,000

19,000

17,400

15,800

15,087

13,127

11,402

9,652

Accumulated Other Comprehensive Income

2,000
-16
-450
1,000
1,000
1,000
3,000
2,000
2,000
5,000
7,000
2,837
3,049
5,587
7,371
6,942
7,158
7,612
8,258
7,296
6,929
4,133
4,503
3,891
4,309
5,305
4,690
4,490
5,216
3,749
4,478
3,048
4,885
5,404
4,633
-624
369
743
1,048
-241
-5,105
-7,178
-9,788
-4,741
-969
4,318
5,779
5,749
17,448
18,611
18,831
20,218
16,754
19,555
18,360
14,056
-10,875
-22,357
-44,090
-42,253
-43,049
-58,662
-59,838
-47,595
-46,592

-46,592

-47,595

-59,838

-58,662

-43,049

-42,253

-44,090

-22,357

-10,875

14,056

18,360

19,555

16,754

20,218

18,831

18,611

17,448

5,749

5,779

4,318

-969

-4,741

-9,788

-7,178

-5,105

-241

1,048

743

369

-624

4,633

5,404

4,885

3,048

4,478

3,749

5,216

4,490

4,690

5,305

4,309

3,891

4,503

4,133

6,929

7,296

8,258

7,612

7,158

6,942

7,371

5,587

3,049

2,837

7,000

5,000

2,000

3,000

1,000

-450

-16

2,000

Capital Surplus

0
0
0
0
0
0
0
0
0
0
0
0
0
86,591
87,043
87,805
88,525
89,324
89,614
93,505
109,022
109,874
113,441
123,325
127,218
183,765
184,797
185,397
207,374
209,074
210,331
211,546
215,948
214,525
215,262
215,932
217,195
217,271
217,483
217,693
217,536
217,765
218,062
218,521
218,147
218,658
219,234
219,766
221,901
222,437
223,280
223,856
224,302
225,127
225,648
226,397
227,127
227,906
0
0
229,631
230,659
0
0
0

230,659

229,631

227,906

227,127

226,397

225,648

225,127

224,302

223,856

223,280

222,437

221,901

219,766

219,234

218,658

218,147

218,521

218,062

217,765

217,536

217,693

217,483

217,271

217,195

215,932

215,262

214,525

215,948

211,546

210,331

209,074

207,374

185,397

184,797

183,765

127,218

123,325

113,441

109,874

109,022

93,505

89,614

89,324

88,525

87,805

87,043

86,591

Treasury Stock

Other Stockholders Equity

62,991
63,484
64,076
70,691
74,400
74,500
75,200
74,600
75,000
75,000
75,400
75,914
76,139
86,591
87,043
87,805
88,525
89,324
89,614
93,505
109,022
109,874
113,441
123,325
127,218
183,782
184,797
185,397
207,374
209,074
210,331
211,546
215,948
214,525
215,262
215,932
217,195
217,271
217,483
217,693
217,536
217,765
218,062
218,521
218,147
218,658
219,234
219,766
221,901
222,437
223,280
223,856
224,302
225,127
225,648
226,397
227,127
227,906
228,738
229,693
229,631
230,659
231,588
232,605
233,560

233,560

232,605

231,588

230,659

229,631

229,693

228,738

227,906

227,127

226,397

225,648

225,127

224,302

223,856

223,280

222,437

221,901

219,766

219,234

218,658

218,147

218,521

218,062

217,765

217,536

217,693

217,483

217,271

217,195

215,932

215,262

214,525

215,948

211,546

210,331

209,074

207,374

185,397

184,797

183,782

127,218

123,325

113,441

109,874

109,022

93,505

89,614

89,324

88,525

87,805

87,043

86,591

76,139

75,914

75,400

75,000

74,600

75,200

74,500

74,400

70,691

64,076

63,484

62,991

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
Accounts Payable	27,545	18,615	13,619	12,321	11,934	10,381	4,971	4,401	2,369	1,940	769	942	945	898	1,000	1,300
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Other Comprehensive Income	-47,595	-42,253	14,056	20,218	5,749	-4,741	-241	-624	3,048	4,490	3,891	7,296	6,942	2,837	2,000	1,000
Additional Paid In Capital	0	0	0	0	0	0	217,693	185,397	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Stock	54	54	54	54	54	53	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	0	0	226,397	223,856	219,766	218,521	217,693	215,932	211,546	185,397	123,325	93,505	87,805	0	0	0
Cash	2,030,513	814,538	4,163,724	2,209,640	530,127	458,050	238,062	623,562	317,450	297,464	249,781	177,454	142,368	231,632	26,982	22,844
Cash And Equivalents	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash And Short Term Investments	-123,430	751,132	5,006,294	3,096,328	1,289,526	1,048,234	776,142	1,045,937	660,388	594,883	516,001	411,331	142,368	231,632	26,982	22,844
Common Stock	54	54	54	54	54	53	53	53	26	25	7	6	6	6	0	5
Common Stock Shares Outstanding	54,535	54,535	54,435	54,219	54,103	54,170	54,124	53,608	52,885	49,636	49,049	49,049	49,049	49,049	49,049	32,000
Common Stock Total Equity	0	0	54	54	54	53	53	53	26	25	7	6	6	6	0	0
Current Deferred Revenue	-27,545	-1,604,464	-1,702,242	-842,248	-461,820	0	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Liab	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Earning Assets	0	0	0	0	1,317,943	1,175,577	935,196	1,217,780	689,188	0	0	0	0	0	0	0
Good Will	13,615	13,615	13,600	13,600	13,600	13,600	13,600	13,617	15,330	0	0	0	0	0	0	0
Intangible Assets	13,615	13,615	13,638	13,908	14,179	14,449	14,719	14,996	15,330	0	0	0	0	0	0	0
Inventory	64,249	248	-4,258,135	-2,254,749	-665,040	5,169	6,701	4,988	5,392	12,824	20,995	35,511	0	0	-6,200	0
Liabilities And Stockholders Equity	16,145,174	14,595,753	15,448,806	11,932,654	8,947,653	8,007,382	7,082,384	6,370,448	5,095,509	4,098,679	3,520,699	2,906,314	2,460,785	1,935,166	1,573,500	1,162,300
Long Term Debt	64,735	64,726	64,706	64,748	64,703	64,666	64,832	55,262	55,637	19,973	19,940	34,967	35,468	0	0	0
Long Term Debt Total	0	0	64,706	64,748	64,703	64,666	64,832	55,262	55,637	19,973	19,940	34,967	35,468	0	0	0
Long Term Investments	1,882,847	1,678,936	1,305,527	9,315,950	759,649	7,079,273	6,355,305	5,365,292	4,565,267	3,669,092	3,145,095	2,631,752	2,143,781	0	0	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Debt	-681,619	-749,812	-4,099,018	-2,144,892	-465,424	-393,384	-173,230	-568,300	-261,702	-277,491	-229,841	-142,487	-106,900	-176,275	13,218	12,256
Net Invested Capital	1,504,640	1,362,122	1,216,221	1,057,100	906,883	779,367	671,934	0	0	0	0	0	0	0	0	0
Net Receivables	59,181	48,422	34,831	36,841	26,262	24,070	20,661	15,801	13,698	11,214	10,262	9,158	8,192	6,990	6,200	0
Net Tangible Assets	0	1,283,781	1,137,877	978,444	828,001	700,252	592,383	507,516	433,440	367,003	257,234	193,299	156,334	0	0	0
Net Working Capital	-12,009,831	732,517	5,027,506	3,120,848	1,303,854	1,061,923	639,983	490,630	400,881	356,103	337,083	300,124	344,074	-847	117,997	-1,054,939
Non Current Assets Total	13,953,910	73,465	1,379,465	955,815	830,324	663,349	86,641	82,442	58,189	23,531	19,369	16,233	9,505	290,153	4,503	112,500
Non Current Liabilities Other	0	0	53,853	35,464	0	12,699	11,506	11,641	12,108	7,078	8,776	8,511	4,928	0	0	0
Non Current Liabilities Total	503,674	18,615	64,706	64,748	64,703	64,666	64,832	55,262	55,748	19,973	19,940	34,967	35,468	55,357	24,900	20,000
Non Currrent Assets Other	11,853,713	-1,739,384	-37,772	-31,072	-25,566	-26,383	-538,330	-484,939	-370,364	-328,168	-298,494	-259,844	-312,519	-290,153	-259,597	-108,900
Noncontrolling Interest In Consolidated Entity	0	0	500	500	0	502	502	377	377	252	0	0	0	0	0	0
Other Assets	0	13,771,156	9,028,216	7,843,670	6,801,541	6,271,729	6,350,789	5,792,975	4,634,070	3,717,105	3,163,478	2,589,015	2,106,261	1,644,962	0	1,049,239
Other Current Assets	2,191,264	-48,422	4,258,135	2,254,749	665,040	6,271,729	5,672,598	4,767,437	4,016,295	54,098	0	0	0	0	1,542,015	0
Other Current Liab	12,939,163	-18,615	-13,619	-12,321	-11,934	-10,381	-4,971	-4,401	-2,369	-1,940	-769	-942	-945	-898	1,450,000	1,054,200
Other Liab	0	30,220	67,472	47,785	13,802	12,699	11,506	11,641	12,108	9,018	9,545	9,453	0	0	0	0
Other Stockholder Equity	232,605	229,693	226,397	223,856	219,766	218,521	217,693	215,932	211,546	185,397	123,325	93,505	87,805	75,914	74,600	70,700
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Total Equity	0	0	0	0	0	0	39,958	39,958	0	39,958	39,958	39,958	39,958	0	0	0
Property Plant And Equipment Gross	96,175	92,288	88,736	54,969	56,496	57,822	58,900	40,314	19,434	7,815	8,351	8,847	4,591	4,450	5,100	3,900
Property Plant And Equipment Net	85,775	59,850	60,300	54,969	56,496	57,822	58,900	40,314	19,434	7,815	8,351	8,847	4,591	4,450	5,100	3,900
Property Plant Equipment	0	78,666	60,300	54,969	69,788	57,822	58,900	40,314	19,434	7,815	8,351	8,847	4,591	0	0	0
Retained Earnings	1,254,841	1,109,902	911,008	748,224	616,611	500,868	389,597	307,151	234,150	177,091	130,011	92,492	61,581	38,343	21,000	15,100
Retained Earnings Total Equity	0	0	911,008	748,224	0	500,868	389,554	307,151	234,150	177,091	130,011	92,492	61,581	0	0	0
Short Long Term Debt	0	0	0	0	0	0	200	411,206	407,997	284,288	0	0	0	0	0	0
Short Long Term Debt Total	1,348,894	64,726	64,706	64,748	64,703	64,666	64,832	55,262	55,748	19,973	19,940	34,967	35,468	55,357	40,200	35,100
Short Term Debt	1,261,932	1,623,079	1,715,861	854,569	473,754	0	200	411,206	407,997	284,288	0	0	0	0	0	0
Short Term Investments	900,183	644,815	842,570	886,688	759,399	590,184	538,080	422,375	342,938	298,813	266,220	233,877	293,809	0	0	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Assets	16,145,174	14,595,753	15,448,806	11,932,654	8,947,653	8,007,382	7,082,384	6,370,448	5,095,509	4,098,679	3,520,699	2,906,314	2,460,785	1,935,166	1,573,500	1,162,300
Total Current Assets	2,191,264	751,132	5,041,125	3,133,169	1,315,788	1,072,304	644,954	495,031	403,250	358,043	337,852	301,066	345,019	51	1,568,997	561
Total Current Liabilities	14,201,095	18,615	13,619	12,321	11,934	10,381	4,971	4,401	2,369	1,940	769	942	945	898	1,451,000	1,055,500
Total Liab	14,704,769	13,297,857	14,296,791	10,939,802	8,104,971	7,292,179	6,474,780	5,847,559	4,646,362	3,691,466	3,223,507	2,673,057	2,264,493	1,818,066	1,475,900	1,075,500
Total Permanent Equity	0	0	0	0	0	0	607,604	0	0	0	0	0	0	0	0	0
Total Stockholder Equity	1,439,905	1,297,396	1,151,515	992,352	842,180	714,701	607,102	522,512	448,770	406,961	297,192	233,257	196,292	117,100	97,600	86,800
Treasury Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

	2024-03-31	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
Accounts Payable	-	27,545	24,683	23,061	20,541	18,615	14,881	13,515	14,185	13,619	12,697	12,089	12,865	12,321	11,915	11,710	12,399	11,934	11,476	10,930	11,476	10,381	8,562	7,222	7,823	4,971	4,353	3,513	4,214	4,401	3,626	2,876	3,643	2,369	2,947	2,340	2,605	1,940	2,204	1,946	2,121	769	4,553	905	1,154	942	867	935	1,016	945	1,043	983	864	898	900	900	900	1,000	1,100	1,100	1,200	0	0	0	0
Accumulated Amortization	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Depreciation	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Other Comprehensive Income	-46,592	-47,595	-59,838	-58,662	-43,049	-42,253	-44,090	-22,357	-10,875	14,056	18,360	19,555	16,754	20,218	18,831	18,611	17,448	5,749	5,779	4,318	-969	-4,741	-9,788	-7,178	-5,105	-241	1,048	743	369	-624	4,633	5,404	4,885	3,048	4,478	3,749	5,216	4,490	4,690	5,305	4,309	3,891	4,503	4,133	6,929	7,296	8,258	7,612	7,158	6,942	7,371	5,587	3,049	2,837	7,000	5,000	2,000	2,000	3,000	1,000	1,000	1,000	-450	-16	2,000
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	218,062	217,765	217,536	217,693	217,483	217,271	217,195	185,397	210,331	209,074	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-	54	54	54	54	54	54	54	54	54	54	54	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	-	0	0	230,659	229,631	0	0	227,906	227,127	226,397	225,648	225,127	224,302	223,856	223,280	222,437	221,901	219,766	219,234	218,658	218,147	218,521	218,062	217,765	217,536	217,693	217,483	217,271	217,195	215,932	215,262	214,525	215,948	211,546	210,331	209,074	207,374	185,397	184,797	183,765	127,218	123,325	113,441	109,874	109,022	93,505	89,614	89,324	88,525	87,805	87,043	86,591	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash	78,708	2,030,513	1,974,074	959,734	864,493	814,538	406,010	1,587,149	3,418,751	4,163,724	4,399,786	3,173,276	2,808,153	2,209,640	1,622,069	1,546,575	378,404	530,127	572,429	477,893	618,094	458,050	136,788	150,086	118,223	238,062	166,150	205,875	338,174	623,562	610,613	472,688	525,637	317,450	216,463	118,835	299,679	297,464	337,467	276,883	211,957	249,781	257,490	190,018	45,758	177,454	244,673	71,334	137,581	142,368	93,363	102,914	37,180	231,632	30,371	26,570	20,449	26,982	20,918	18,474	17,925	22,844	28,434	26,994	19,155
Cash And Equivalents	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash And Short Term Investments	1,152,637	1,023,613	946,952	1,098,172	764,123	751,132	1,071,773	2,311,612	4,203,424	5,006,294	5,123,110	4,186,809	3,770,032	3,096,328	2,535,118	2,402,703	1,205,186	1,289,526	1,260,450	1,135,864	1,249,790	1,048,234	714,809	733,635	678,858	776,142	601,475	644,683	792,130	1,045,937	962,030	793,732	831,794	660,388	523,129	424,820	603,822	594,883	639,770	571,137	489,458	516,001	513,875	417,788	275,192	411,331	244,673	71,334	137,581	142,368	93,363	102,914	37,180	231,632	30,371	26,570	20,449	26,982	20,918	18,474	17,925	22,844	28,434	26,994	19,155
Common Stock	54	54	54	54	54	54	54	54	54	54	54	54	54	54	54	54	54	54	54	54	53	53	53	53	53	53	53	53	53	53	26	26	26	26	26	26	26	25	25	8	8	7	7	7	7	6	6	6	6	6	6	6	6	6	6	6	0	0	6	0	6	5	5	0	0
Common Stock Shares Outstanding	54,376	54,535	54,531	54,506	54,534	54,535	54,547	54,532	54,522	54,494	54,478	54,460	54,382	54,274	54,233	54,195	54,167	54,150	54,096	54,089	54,077	54,037	54,191	54,196	54,183	54,151	54,100	54,101	54,134	54,285	53,879	53,453	53,134	53,314	53,013	52,852	52,476	51,438	51,453	49,647	49,049	49,049	49,049	49,049	49,049	41,214	49,049	49,049	49,049	41,214	49,049	49,049	49,049	41,214	49,049	49,049	49,049	34,980	34,930	34,860	34,140	5,113	5,096	5,108	0
Common Stock Total Equity	-	0	0	54	54	0	0	54	54	54	54	54	54	54	54	54	54	54	54	54	53	53	53	53	53	53	53	53	53	53	26	26	26	26	26	26	26	25	25	25	8	7	7	7	7	6	6	6	6	6	6	6	6	6	0	0	0	0	0	0	5	5	5	0	0
Current Deferred Revenue	-	-27,545	-1,346,935	-1,277,336	-1,463,483	-1,604,464	-1,452,496	-1,377,738	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Asset Charges	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Liab	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Earning Assets	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,317,514	1,437,849	1,317,943	1,634,885	1,485,008	1,361,640	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	13,615	13,615	13,615	0	0	13,600	0	0	0	0	0	0	0	0	0	0	0	13,600	0	0	0	13,600	0	0	0	13,617	0	0	0	13,617	0	13,617	13,617	13,617	15,947	16,150	16,053	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Intangible Assets	-	13,615	13,615	13,615	13,615	13,615	13,615	13,615	13,615	13,638	13,705	13,773	13,841	13,908	13,976	14,043	14,111	14,179	14,246	14,314	14,381	14,449	14,517	14,584	14,652	14,719	14,787	14,855	14,924	14,996	15,073	15,154	15,239	15,330	17,756	18,060	18,069	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Inventory	-	-1,082,794	-2,178,799	-1,078,890	-972,219	248	1,245	-1,726,360	1,989	1,208	2,068	2,039	2,067	6,497	6,976	6,537	7,448	8,178	5,337	5,649	5,480	5,169	5,714	5,937	10,270	11,160	8,859	9,564	11,701	9,663	9,061	12,193	9,134	13,641	11,455	19,957	21,022	12,824	15,977	18,414	16,456	20,995	25,850	25,445	23,880	35,511	38,199	24,834	24,248	0	0	0	0	0	0	0	0	-6,200	0	0	0	0	0	0	0
Liabilities And Stockholders Equity	15,721,630	16,145,174	16,044,332	15,072,808	14,566,559	14,595,753	13,890,030	14,494,317	15,339,419	15,448,806	14,602,228	13,207,319	12,647,374	11,932,654	11,394,874	11,012,195	9,364,882	8,947,653	9,005,112	8,740,237	8,310,836	8,007,382	7,517,833	7,084,562	7,011,735	7,082,384	6,712,103	6,329,599	6,336,165	6,370,448	6,002,621	5,646,055	5,378,599	5,095,509	4,772,601	4,492,539	4,393,342	4,098,679	3,952,799	3,762,684	3,572,914	3,520,699	3,396,153	3,140,626	2,861,758	2,906,314	2,763,234	2,570,243	2,531,484	2,460,785	2,257,330	2,024,597	1,862,949	1,935,166	1,776,500	1,681,800	1,527,500	1,573,500	1,502,200	1,342,400	1,255,500	1,162,272	1,064,908	973,110	960,215
Long Term Debt	-	64,735	64,751	64,737	65,417	64,726	65,406	64,716	64,711	64,706	64,701	64,696	64,691	64,748	64,719	64,715	64,707	64,703	64,693	64,684	64,675	64,666	64,657	64,648	64,739	64,832	54,975	55,075	55,169	55,262	55,356	55,450	55,543	55,637	55,728	21,016	21,278	19,973	19,965	19,957	19,949	19,940	19,932	19,924	19,916	34,967	30,514	30,514	4,958	35,468	4,949	4,945	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Debt Total	-	0	0	64,737	65,417	0	0	64,716	64,711	64,706	64,701	64,696	64,691	64,748	64,719	64,715	64,707	64,703	64,693	64,684	64,675	64,666	64,657	64,648	64,739	64,832	54,975	55,075	55,169	55,262	55,356	55,450	55,543	55,637	55,728	21,016	21,278	19,973	19,965	19,957	19,949	19,940	19,932	19,924	19,916	34,967	0	0	4,958	35,468	4,949	4,945	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Investments	-	1,882,847	1,878,701	2,048,227	1,646,937	1,678,936	1,714,603	1,790,218	1,617,977	1,305,527	984,600	1,013,783	9,424,385	9,315,950	9,387,492	9,125,665	827,032	759,649	7,667,262	7,590,802	7,249,868	7,079,273	6,904,955	6,675,189	6,451,945	6,355,305	6,118,335	5,829,137	5,646,755	5,365,292	5,006,295	4,861,466	4,676,367	4,565,267	4,354,256	4,182,349	3,931,376	3,669,092	3,477,600	3,367,798	3,232,618	3,145,095	3,013,757	2,848,488	2,721,536	2,631,752	2,431,645	2,349,760	2,227,998	2,143,781	2,012,878	1,803,894	0	0	0	0	0	0	0	0	0	0	0	0	0
Negative Goodwill	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Debt	-78,708	-681,619	-1,909,323	-894,997	-799,076	-749,812	-340,604	-1,522,433	-3,354,040	-4,099,018	-4,335,085	-3,108,580	-2,743,462	-2,144,892	-1,557,350	-1,481,860	-313,697	-465,424	-507,736	-413,209	-553,419	-393,384	-72,131	-85,438	-53,484	-173,230	-111,175	-150,800	-283,005	-568,300	-555,257	-417,238	-470,094	-261,702	-160,735	-97,819	-278,401	-277,491	-317,502	-256,926	-192,008	-229,841	-237,558	-170,094	-25,842	-142,487	-122,873	39,366	-132,623	-106,900	-88,414	-97,969	-22,239	-176,275	24,929	28,730	52,151	13,218	19,182	21,626	17,175	-22,844	-28,434	-26,994	-19,155
Net Invested Capital	-	1,504,640	1,465,635	1,427,708	1,404,734	1,362,122	1,307,495	1,276,134	1,237,186	1,216,221	1,178,494	1,137,480	1,094,676	1,057,100	1,013,808	978,801	946,090	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-	59,181	56,500	50,183	50,500	48,422	39,946	36,557	34,388	34,831	33,815	33,130	36,348	36,841	36,607	30,928	25,314	26,262	25,423	26,635	26,998	24,070	24,755	21,375	20,261	20,661	20,334	16,770	16,051	15,801	14,648	13,487	13,416	13,698	12,566	11,905	11,991	11,214	10,882	9,686	10,370	10,262	9,604	9,101	9,154	9,158	9,188	8,057	7,975	8,192	7,529	6,847	7,358	6,990	6,834	6,144	6,664	6,200	5,163	4,363	3,934	0	4,068	3,979	3,936
Net Tangible Assets	-	0	1,387,269	1,349,356	1,325,702	1,283,781	1,228,474	1,197,803	1,158,860	1,137,877	1,100,088	1,059,011	1,016,144	978,444	935,113	900,043	867,272	828,001	795,789	764,141	730,703	700,252	666,491	640,028	614,143	592,383	574,924	551,729	529,722	507,516	492,416	473,566	455,324	433,440	413,061	396,092	383,054	367,003	352,926	339,864	272,073	257,234	236,342	225,231	217,589	193,299	185,048	174,910	165,426	156,334	149,515	141,243	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Working Capital	-	-12,009,831	922,269	1,075,111	743,582	732,517	899,933	2,334,654	873,927	5,027,506	846,755	1,107,173	1,055,469	81,334	1,008,213	864,278	848,183	66,684	810,772	742,517	718,276	87,135	671,906	666,046	637,985	81,242	530,737	523,246	520,786	52,454	419,660	386,640	401,054	44,245	366,766	365,281	380,581	46,579	370,464	378,887	363,292	60,601	333,269	296,217	271,278	57,089	285,215	345,962	341,002	42,073	338,936	33,827	27,365	237,724	-1,598,195	-1,515,186	-1,373,487	117,997	-1,216,395	-1,089,949	-1,017,181	0	0	0	0
Non Current Assets Total	72,917	13,953,910	73,131	73,270	73,708	73,465	72,695	1,863,315	73,523	1,379,465	106,191	112,741	102,439	68,877	96,013	57,446	58,066	70,675	95,242	96,359	98,254	72,271	84,667	84,544	84,744	73,619	96,217	93,044	88,297	55,310	62,329	60,085	58,925	34,764	56,617	50,260	46,144	7,815	23,578	20,562	19,950	8,351	17,678	19,139	17,229	8,847	12,164	11,770	10,620	4,591	9,388	12,011	11,979	290,153	6,831	8,805	9,249	4,503	8,479	9,114	8,306	101,414	7,959	7,531	6,585
Non Current Liabilities Other	-	0	0	35,254	45,307	0	0	42,664	39,555	53,853	45,111	39,540	50,165	35,464	25,518	42,658	0	0	24,017	21,423	32,055	12,699	11,659	9,237	6,090	11,506	10,781	8,889	11,861	11,641	10,255	10,407	10,841	12,108	9,683	12,469	8,338	7,078	6,498	21,995	11,758	8,776	6,061	4,156	5,677	8,511	36,523	33,333	37,365	4,928	34,184	33,594	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Current Liabilities Total	-	503,674	64,751	64,737	20,541	18,615	14,881	13,515	14,185	13,619	64,701	64,696	64,691	64,748	64,719	64,715	64,707	64,703	64,693	64,684	64,675	64,666	64,657	64,648	64,739	64,832	54,975	55,075	55,169	55,262	55,356	55,450	55,543	55,748	55,728	21,016	21,278	19,973	19,965	19,957	19,949	19,940	19,932	19,924	19,916	34,967	36,523	33,333	4,958	35,468	4,949	4,945	14,941	55,357	24,900	24,900	24,900	24,900	24,900	24,900	20,000	0	0	0	0
Non Currrent Assets Other	-	11,853,713	-1,944,730	-2,113,862	-1,707,603	-1,739,384	-1,769,202	-48,874	-1,661,998	-1,379,465	-984,600	-1,013,783	-962,129	-886,938	-913,299	-868,563	-839,069	-759,649	-688,271	-658,221	-631,946	-590,184	-578,271	-583,799	-560,885	-538,330	-522,724	-518,065	-526,013	-484,939	-377,270	-347,706	-362,106	-370,364	-334,635	-335,008	-336,505	-328,168	-332,351	-325,432	-309,475	-298,494	-289,515	-261,578	-262,103	-259,844	-261,314	-321,537	-316,726	-312,519	-315,889	-248,465	-255,594	-290,153	2,300	4,100	4,400	-259,597	3,300	4,800	4,500	-3,586	-93,000	-94,000	-92,000
Noncontrolling Interest In Consolidated Entity	-	0	0	500	500	0	0	500	500	500	500	500	500	500	500	502	0	0	502	502	502	502	502	502	502	502	502	502	502	377	377	377	377	377	377	377	377	252	252	252	252	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	14,496,076	15,033,116	15,024,249	13,901,366	13,728,728	13,771,156	12,902,521	10,282,833	14,377,784	9,028,216	13,636,585	11,975,316	11,476,601	11,770,122	10,278,733	10,078,761	8,446,234	8,798,360	8,087,622	7,890,431	7,482,830	7,837,595	6,752,698	6,326,750	6,281,183	6,922,552	6,080,796	5,709,796	5,722,868	6,258,283	5,517,006	5,196,454	4,914,977	5,014,131	4,346,271	4,074,658	3,964,012	4,042,345	3,556,553	3,361,289	3,187,551	3,450,978	3,040,653	2,824,365	2,572,097	2,839,436	2,464,988	2,211,576	2,178,846	2,413,176	1,907,963	1,977,776	1,822,741	1,406,391	1,732,464	1,640,281	1,491,138	0	1,330,016	1,198,635	1,120,075	1,038,014	1,028,515	938,585	934,475
Other Current Assets	-	2,191,264	2,122,299	1,028,707	921,719	-48,422	-196,905	1,726,360	-3,349,700	-4,141,621	8,386,045	7,892,086	7,808,552	7,843,670	7,840,601	7,652,555	7,237,247	6,801,541	6,960,152	6,848,008	6,330,057	6,271,729	6,126,710	5,671,877	5,677,429	5,672,598	5,497,679	5,083,429	4,939,606	4,767,437	4,608,567	4,452,755	4,129,388	4,016,295	3,865,526	3,687,183	3,401,920	54,098	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,542,015	0	0	0	0	0	0	0
Other Current Liab	-	12,939,163	-24,683	-23,061	-20,541	-18,615	-14,881	-13,515	-14,185	-13,619	-12,697	-12,089	-12,865	-12,321	-11,915	-11,710	-12,399	-11,934	-11,476	-10,930	-11,476	-10,381	-8,562	-7,222	-7,823	-4,971	-4,353	-3,513	-4,214	-4,401	-3,626	-2,876	-3,643	-2,369	-2,947	-2,340	-2,605	-1,940	-2,204	-1,946	-2,121	-769	-4,553	-905	-1,154	-942	-867	-935	-1,016	-945	-1,043	-983	-864	-898	1,634,500	1,547,000	1,399,700	1,450,000	1,379,000	1,223,500	1,143,100	0	0	0	0
Other Liab	-	0	65,532	14,972	24,609	30,220	63,798	56,179	21,832	67,472	57,808	51,629	63,030	47,785	14,414	30,825	17,020	13,802	11,613	8,276	17,376	12,699	11,659	9,237	13,913	16,477	15,134	12,402	16,075	16,042	13,881	13,283	14,484	14,366	12,630	14,809	10,943	9,018	8,702	23,941	13,879	9,545	10,614	5,061	6,831	9,453	6,876	3,754	7,867	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Stockholder Equity	233,560	232,605	231,588	230,659	229,631	229,693	228,738	227,906	227,127	226,397	225,648	225,127	224,302	223,856	223,280	222,437	221,901	219,766	219,234	218,658	218,147	218,521	218,062	217,765	217,536	217,693	217,483	217,271	217,195	215,932	215,262	214,525	215,948	211,546	210,331	209,074	207,374	185,397	184,797	183,782	127,218	123,325	113,441	109,874	109,022	93,505	89,614	89,324	88,525	87,805	87,043	86,591	76,139	75,914	75,400	75,000	75,000	74,600	75,200	74,500	74,400	70,691	64,076	63,484	62,991
Preferred Stock Redeemable	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
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	39,958	0	0	0	39,958	0	39,958	0	0	0	39,958	39,958	39,958	39,958	39,958	39,958	39,958	39,958	39,958	39,958	39,958	39,958	39,958	39,958	39,958	39,958	39,958	0	0	0	0	0	0	0	0	0	0	0	0	0
Property Plant And Equipment Gross	-	96,175	0	0	0	92,288	0	0	0	0	0	67,738	56,472	54,969	55,273	55,588	55,992	56,496	56,570	57,195	57,664	57,822	57,882	58,299	58,624	58,900	55,104	51,797	46,407	40,314	25,033	23,221	20,989	19,434	18,989	15,563	16,082	7,815	7,958	7,745	8,015	8,351	8,518	8,756	8,845	8,847	5,875	6,032	4,435	4,591	4,499	4,673	4,673	4,450	4,500	4,700	4,900	5,100	5,200	4,400	3,800	0	0	0	0
Property Plant And Equipment Net	59,302	85,775	59,516	59,655	60,093	59,850	59,080	59,482	59,908	60,300	60,953	67,738	56,472	54,969	55,273	55,588	55,992	56,496	56,570	57,195	57,664	57,822	57,882	58,299	58,624	58,900	55,104	51,797	46,407	40,314	25,033	23,221	20,989	19,434	18,989	15,563	16,082	7,815	7,958	7,745	8,015	8,351	8,518	8,756	8,845	8,847	5,875	6,032	4,435	4,591	4,499	4,673	4,673	4,450	4,500	4,700	4,900	5,100	5,200	4,400	3,800	0	3,884	3,965	4,070
Property Plant Equipment	-	0	59,516	59,655	60,093	78,666	59,080	59,482	59,908	60,300	60,953	67,738	56,472	54,969	55,273	55,588	68,492	69,788	56,570	57,195	57,664	57,822	57,882	58,299	58,624	58,900	55,104	51,797	46,407	40,314	25,033	23,221	20,989	19,434	18,989	15,563	16,082	7,815	7,958	7,745	8,015	8,351	8,518	8,756	8,845	8,847	5,875	6,032	4,435	4,591	4,499	4,673	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Earnings	1,288,514	1,254,841	1,229,080	1,190,920	1,152,681	1,109,902	1,057,387	1,005,815	956,169	911,008	869,731	828,048	788,875	748,224	706,924	672,984	641,980	616,611	584,968	555,425	527,853	500,868	472,681	443,972	416,311	389,597	371,127	348,517	327,029	307,151	287,568	268,765	249,704	234,150	215,982	201,303	188,507	177,091	163,414	150,769	140,538	130,011	118,391	111,217	101,631	92,492	87,170	77,968	69,737	61,581	55,095	49,059	43,214	38,343	33,800	29,000	25,000	21,000	19,000	17,400	15,800	15,087	13,127	11,402	9,652
Retained Earnings Total Equity	-	0	0	1,190,920	1,152,681	0	0	1,005,815	956,169	911,008	869,731	828,048	788,875	748,224	706,924	672,984	0	0	584,968	555,425	527,853	500,868	472,681	443,972	416,311	389,554	371,127	348,517	327,029	307,151	287,568	268,765	249,704	234,150	215,982	201,303	188,507	177,091	163,414	150,769	140,538	130,011	118,391	111,217	101,631	92,492	87,170	77,968	69,737	61,581	55,095	49,059	0	0	0	0	0	0	0	0	0	0	0	0	0
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	310,751	327,307	100	200	309,855	355,301	413,410	411,206	399,746	475,880	0	407,997	0	0	0	284,288	0	0	0	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	-	1,348,894	64,751	64,737	65,417	64,726	65,406	64,716	64,711	64,706	64,701	64,696	64,691	64,748	64,719	64,715	64,707	64,703	64,693	64,684	64,675	64,666	64,657	64,648	64,739	64,832	54,975	55,075	55,169	55,262	55,356	55,450	55,543	55,748	55,728	21,016	21,278	19,973	19,965	19,957	19,949	19,940	19,932	19,924	19,916	34,967	121,800	110,700	4,958	35,468	4,949	4,945	14,941	55,357	55,300	55,300	72,600	40,200	40,100	40,100	35,100	0	0	0	0
Short Term Debt	-	1,261,932	1,371,618	1,300,397	1,484,024	1,623,079	1,467,377	1,391,253	0	462,957	261,276	250	962,129	886,938	0	0	0	0	0	0	0	0	310,751	327,307	100	200	309,855	355,301	413,410	411,206	399,746	475,880	0	407,997	0	0	0	284,288	0	0	0	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 Term Investments	1,073,929	900,183	834,802	990,921	624,948	644,815	665,763	724,463	784,673	842,570	723,324	1,013,533	961,879	886,688	913,049	856,128	826,782	759,399	688,021	657,971	631,696	590,184	578,021	583,549	560,635	538,080	435,325	438,808	453,956	422,375	351,417	321,044	334,567	342,938	306,666	305,985	307,379	298,813	302,303	294,254	277,501	266,220	256,385	227,770	229,434	233,877	236,582	296,508	296,224	0	296,826	0	0	0	0	0	0	0	137,624	111,814	105,260	0	90,139	91,773	88,975
Temporary Equity Redeemable Noncontrolling Interests	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Assets	15,721,630	16,145,174	16,044,332	15,072,808	14,566,559	14,595,753	13,890,030	14,494,317	15,339,419	15,448,806	14,602,228	13,207,319	12,647,374	11,932,654	11,394,874	11,012,195	9,364,882	8,947,653	9,005,112	8,740,237	8,310,836	8,007,382	7,517,833	7,084,562	7,011,735	7,082,384	6,712,103	6,329,599	6,336,165	6,370,448	6,002,621	5,646,055	5,378,599	5,095,509	4,772,601	4,492,539	4,393,342	4,098,679	3,952,799	3,762,684	3,572,914	3,520,699	3,396,153	3,140,626	2,861,758	2,906,314	2,763,234	2,570,243	2,531,484	2,460,785	2,257,330	2,024,597	1,862,949	1,935,166	1,776,500	1,681,800	1,527,500	1,573,500	1,502,200	1,342,400	1,255,500	1,162,272	1,064,908	973,110	960,215
Total Current Assets	1,152,637	2,191,264	946,952	1,098,172	764,123	751,132	914,814	2,348,169	888,112	5,041,125	859,452	1,119,262	1,068,334	93,655	1,020,128	875,988	860,582	78,618	822,248	753,447	729,752	97,516	680,468	673,268	645,808	86,213	535,090	526,759	525,000	56,855	423,286	389,516	404,697	46,614	369,713	367,621	383,186	48,519	372,668	380,833	365,413	61,370	337,822	297,122	272,432	58,031	286,082	346,897	342,018	43,018	339,979	34,810	28,229	238,622	37,205	32,714	27,113	1,568,997	163,705	134,651	127,119	22,844	28,434	26,994	19,155
Total Current Liabilities	-	14,201,095	24,683	23,061	20,541	18,615	14,881	13,515	14,185	13,619	12,697	12,089	12,865	12,321	11,915	11,710	12,399	11,934	11,476	10,930	11,476	10,381	8,562	7,222	7,823	4,971	4,353	3,513	4,214	4,401	3,626	2,876	3,643	2,369	2,947	2,340	2,605	1,940	2,204	1,946	2,121	769	4,553	905	1,154	942	867	935	1,016	945	1,043	983	864	898	1,635,400	1,547,900	1,400,600	1,451,000	1,380,100	1,224,600	1,144,300	0	0	0	0
Total Liab	-	14,704,769	64,751	64,737	13,226,742	13,297,857	12,647,441	13,282,399	14,166,444	14,296,791	13,487,935	12,134,035	11,616,889	10,939,802	10,445,285	10,097,607	8,482,997	8,104,971	8,194,575	7,961,280	7,565,250	7,292,179	6,836,323	6,429,448	6,382,438	6,474,780	6,121,890	5,762,513	5,791,017	5,847,559	5,494,755	5,156,958	4,907,659	4,646,362	4,341,407	4,038,052	3,951,884	3,691,466	3,559,663	3,382,610	3,260,631	3,223,507	3,119,853	2,875,437	2,604,211	2,673,057	2,538,228	2,355,375	2,326,100	2,264,493	2,067,857	1,843,396	1,740,541	1,818,066	1,660,300	1,572,800	1,425,500	1,475,900	1,405,000	1,249,500	1,164,300	1,075,489	988,150	898,240	885,572
Total Permanent Equity	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	681,510	655,114	629,297	607,604	590,213	567,086	545,148	0	0	0	0	0	0	0	0	0	0	0	0	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	1,475,536	1,439,905	1,400,884	1,362,971	1,339,317	1,297,396	1,242,089	1,211,418	1,172,475	1,151,515	1,113,793	1,072,784	1,029,985	992,352	949,089	914,086	881,383	842,180	810,035	778,455	745,084	714,701	681,008	654,612	628,795	607,102	589,711	566,584	544,646	522,512	507,489	488,720	470,563	448,770	430,817	454,110	441,081	406,961	392,884	379,822	312,031	297,192	276,300	265,189	257,547	233,257	225,006	214,868	205,384	196,292	189,473	181,201	122,408	117,100	116,200	109,000	102,000	97,600	97,200	92,900	91,200	86,783	76,758	74,870	74,643
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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Warrants	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

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
Begin Period Cash Flow	816,053	4,222,096	2,211,411	630,600	681,895	477,586	783,997	352,235	297,464	258,415	180,745	242,933	231,978	76,206	72,918	0
Capital Expenditures	3,910	3,650	9,449	2,305	2,356	2,300	21,154	22,205	5,537	1,307	1,346	5,474	1,314	428	2,294	800
Cash And Cash Equivalents Changes	0	0	2,010,685	1,580,811	0	204,309	-306,411	431,762	54,771	39,049	77,670	-62,188	10,955	0	0	0
Cash Flows Other Operating	0	0	411	728	0	12,998	-12,753	-4,580	3,781	-2,192	2,417	5,118	1,845	0	0	0
Change In Cash	1,315,035	-3,406,043	2,010,685	1,580,811	-51,295	204,309	-306,411	431,762	54,771	39,049	77,670	-62,188	10,955	155,772	3,288	6,500
Change In Working Capital	-38,889	-41,053	-2,595	-15,670	-8,540	12,038	-19,756	-6,465	-500	-4,873	-3,179	1,197	147	188	-11,088	-289,600
Change Receivables	0	0	2,010	-10,579	0	-3,409	-4,860	-2,103	-2,000	-952	-1,104	-966	-1,202	0	0	0
Change To Account Receivables	-10,759	-13,591	2,792	-10,579	-2,192	-3,409	-4,860	-2,103	-2,000	-952	-1,104	-966	-1,202	-790	-2,174	-77
Change To Inventory	10,759	13,591	-2,010	0	0	0	4,051	7,299	417	4,197	20,205	0	1,492	0	-7,850	0
Change To Liabilities	0	0	1,298	387	0	5,410	570	2,032	340	1,171	0	0	0	0	0	0
Change To Netincome	0	58,053	35,825	21,477	19,620	9,871	35,551	14,236	3,257	8,626	28,305	290	-1,889	0	0	0
Change To Operating Activities	0	-27,462	-4,605	-5,091	-6,348	15,447	-14,896	-4,362	1,500	-3,921	0	0	0	0	0	0
Depreciation	4,436	4,123	4,388	4,103	3,952	3,648	2,845	3,058	2,595	1,838	1,841	1,218	1,173	1,066	1,087	900
Dividends Paid	45,773	37,532	32,582	28,293	24,116	20,257	10,102	7,905	6,163	4,040	4,098	3,534	200	0	0	0
End Period Cash Flow	2,131,088	816,053	4,222,096	2,211,411	630,600	681,895	477,586	783,997	352,235	297,464	258,415	180,745	242,933	231,978	76,206	6,500
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	194,098	268,977	256,882	188,985	161,919	166,001	97,310	76,316	68,887	62,808	72,852	35,710	23,009	29,147	169	11,400
Investments	-555,986	-2,642,217	-1,503,072	-1,350,301	-988,349	-755,439	-1,012,627	-818,126	-728,294	-537,179	-560,307	-491,861	-469,769	0	0	0
Issuance Of Capital Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	-92,979	860,232	380,836	182,024	-13,272	-44,604	3,184	120,320	89,935	57,315	52,717	58,527	0	0	0
Net Income	206,853	251,504	207,734	169,569	149,243	136,940	93,092	81,479	63,540	52,377	41,617	34,445	23,438	17,378	5,878	7,000
Other Cashflows From Financing Activities	-1,975	-1,000,153	3,338,030	2,863,595	796,895	810,939	-1,320	1,203,195	776,165	475,990	568,926	430,434	515,437	341,534	403,515	309,500
Other Cashflows From Investing Activities	0	3,919	-58,022	-60,770	-73,563	3,272	-8,467	-21,315	-15,531	-10,606	-10,040	-12,473	-36,657	0	0	0
Other Non Cash Items	23,013	57,461	60,006	41,679	19,589	28,916	26,986	20,777	12,248	15,906	34,519	5,456	-170	12,442	7,402	294,429
Sale Purchase Of Stock	1,726,706	-1,143	3,534	3,487	2,123	2,337	649,070	3,188	-40,000	58,642	13,616	4,651	50,874	0	0	6,500
Stock Based Compensation	3,600	3,207	1,855	1,332	1,100	851	1,170	1,198	1,265	3,681	1,205	1,049	975	713	785	671
Total Cash From Financing Activities	1,318,171	-1,036,453	3,305,448	2,800,592	772,779	790,482	617,373	1,194,890	729,827	524,026	575,165	406,436	494,499	341,534	403,515	316,000
Total Cash From Operating Activities	198,008	272,627	266,331	191,290	164,275	168,301	118,464	98,521	74,424	64,115	74,198	41,184	24,323	29,575	2,463	12,200
Total Cashflows From Investing Activities	0	-2,642,217	-1,561,094	-1,411,071	-988,349	-754,474	-1,042,248	-861,649	-749,480	-549,092	-571,693	-509,808	-507,740	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	2,065,109	977,692	870,971	816,053	488,326	1,688,596	3,443,389	4,222,096	4,444,486	3,180,776	2,809,730	2,211,411	1,623,371	1,548,927	684,531	630,600	1,046,727	886,150	799,529	681,895	365,821	165,671	316,105	477,586	348,991	255,318	465,564	783,997	792,257	588,726	525,637	352,235	242,692	136,457	299,679	297,464	344,033	279,927	222,492	258,415	265,413	192,608	47,303	180,745	255,345	155,802	228,473	242,933	184,678	197,455	117,954	231,978	152,054	127,250	25,872	76,206	90,700	0	72,918	58,788	58,788	27,121	102,694	0
Capital Expenditures	1,003	960	633	1,314	1,715	655	614	666	391	5,741	12,281	2,518	740	631	517	417	834	304	459	759	770	452	522	556	4,083	4,087	6,140	6,844	14,396	2,542	2,982	2,285	1,182	3,914	140	301	203	713	230	161	319	210	505	312	3,279	150	1,900	145	421	104	300	489	232	46	76	74	200	1,100	800	200	0	0	0	0
Cash And Cash Equivalents Changes	0	0	106,721	54,918	0	0	-1,754,793	-778,707	-222,390	1,263,710	371,046	598,319	0	0	0	0	0	160,577	86,621	117,634	316,074	200,150	-150,434	-161,481	128,595	93,673	-210,246	-318,433	-8,260	203,531	63,089	173,402	109,543	106,235	-163,222	2,215	-46,569	64,106	57,435	-35,923	-6,998	72,805	145,305	-133,442	-74,600	99,543	-72,671	-14,460	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	0	-22,203	-7,258	0	0	-12,666	5,255	7,140	-2,516	-11,013	6,800	0	0	0	0	0	-7,257	-15,144	2,494	15,812	-527	1,550	-3,837	-11,795	8,688	-12,705	3,059	872	2,735	-9,979	1,792	4,212	3,842	-2,249	-2,024	1,274	-14,306	7,949	2,891	3,032	581	925	-2,121	4,528	2,074	-4,194	2,710	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	65,979	1,087,417	106,721	54,918	327,727	-1,200,270	-1,754,793	-778,707	-222,390	1,263,710	371,046	598,319	588,040	74,444	864,396	53,931	-416,127	160,577	86,621	117,634	316,074	200,150	-150,434	-161,481	128,595	93,673	-210,246	-318,433	-8,260	203,531	63,089	173,402	109,543	106,235	-163,222	2,215	-46,569	64,106	57,435	-35,923	-6,998	72,805	145,305	-133,442	-74,600	99,543	-72,671	-14,460	58,255	-12,777	79,501	-114,024	79,924	24,804	101,378	-50,334	-111,000	90,700	-11,200	34,800	14,130	31,667	-75,573	450,234
Change In Working Capital	34,041	-41,339	-25,101	-12,425	-3,248	-13,467	-25,660	1,322	5,410	-4,264	-9,582	5,841	11,260	-35,104	5,400	2,774	13,811	-6,155	-16,151	-45	17,499	-3,197	-949	-1,315	-12,290	5,279	-14,786	2,041	-90	1,749	-10,848	2,724	1,872	3,105	-3,088	-2,389	-591	-15,793	9,264	2,247	1,826	-413	-1,615	-2,977	2,861	468	-4,662	2,530	-1,551	723	2,202	-1,227	-256	2,255	214	-2,025	1,498,097	-155,500	-80,300	-1,167,144	-5,590	1,440	26,951	0
Change Receivables	0	0	317	-2,078	0	0	-2,169	443	-1,016	-685	3,218	493	0	0	0	0	0	1,212	363	-2,928	685	-3,380	-1,114	400	-327	-3,564	-719	-250	-1,153	-1,161	-71	282	-1,132	-661	86	-293	-332	-1,196	684	-108	-658	-503	53	4	30	-1,132	-81	217	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	8,078	-6,317	317	-2,078	-8,476	-3,389	-2,169	0	-3,026	-685	3,218	493	-234	-5,679	-5,614	948	-839	1,212	363	-2,928	685	-3,380	-1,114	400	-327	-3,564	-719	-250	-1,153	-1,161	-71	282	-1,132	-661	86	-293	-332	-1,196	684	-108	-658	-503	53	4	30	-1,132	-81	217	-663	-682	511	-368	-156	-690	519	-463	-1,037	-1,051	-178	92	42	-89	-43	0
Change To Inventory	-8,078	6,317	-317	2,078	8,476	3,389	2,169	0	2,010	0	0	0	0	0	0	0	0	0	0	0	0	1,278	1,161	455	4,051	2,645	965	0	7,299	4,904	1,885	3,827	417	2,659	0	0	4,197	637	0	1,714	20,205	15,743	11,234	11,002	-972	346	272	354	366	333	182	611	-1,963	501	898	564	0	0	0	0	0	0	0	0
Change To Liabilities	0	0	2,520	1,926	0	0	-670	566	922	608	-776	544	0	0	0	0	0	546	-546	1,095	1,819	1,340	-601	2,852	618	840	-701	-187	775	750	-767	1,274	-578	607	-265	576	-264	258	1,177	1,352	0	73	0	212	0	0	0	71	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Netincome	0	-381	3,073	3,389	8,421	21,165	11,304	4	1,726	16,686	21,165	4,685	10,437	3,595	5,565	13,691	5,618	7,736	-2,350	4,390	-3,771	4,995	3,302	5,345	26,189	1,925	5,167	2,270	2,871	4,950	3,648	2,767	-1,308	5,358	527	-1,320	5,388	2,362	-2,400	3,276	4,778	7,772	2,282	13,473	4,889	-12,450	1,139	6,712	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	-35,022	-25,418	-10,347	5,228	-10,078	-23,491	879	6,426	-3,579	-12,800	5,348	11,494	-29,425	11,014	1,826	14,650	-7,367	-16,514	2,883	16,814	183	165	-1,715	-14,896	8,843	-14,067	2,478	-4,362	2,160	-7,703	0	1,500	0	0	0	-3,921	0	0	0	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	1,195	1,099	1,071	1,071	945	1,057	1,040	1,081	1,111	1,112	1,083	1,082	1,112	1,013	989	989	975	997	995	985	898	936	915	899	355	848	818	824	590	812	835	821	682	609	792	512	341	500	500	497	485	448	594	314	307	307	303	301	329	278	300	266	266	263	267	270	300	200	300	300	243	233	225	0
Dividends Paid	15,270	28	15,264	15,211	12,625	81	12,516	12,472	10,950	26	10,871	10,787	9,440	29	9,440	9,384	8,047	6	8,056	8,019	8,532	5,848	3,227	2,650	4,785	2,645	567	2,105	3,688	2,099	878	1,240	2,818	1,583	1,662	100	1,355	1,337	119	1,229	3,786	100	100	112	3,234	100	100	100	100	0	0	0	0	0	0	0	0	0	0	42	42	89	43	0
End Period Cash Flow	2,131,088	2,065,109	977,692	870,971	816,053	488,326	1,688,596	3,443,389	4,222,096	4,444,486	3,180,776	2,809,730	2,211,411	1,623,371	1,548,927	684,531	630,600	1,046,727	886,150	799,529	681,895	365,821	165,671	316,105	477,586	348,991	255,318	465,564	783,997	792,257	588,726	525,637	352,235	242,692	136,457	299,679	297,464	344,033	279,927	222,492	258,415	265,413	192,608	47,303	180,745	255,345	155,802	228,473	242,933	184,678	197,455	117,954	231,978	152,054	127,250	25,872	-111,000	90,700	-11,200	34,800	72,918	58,788	27,121	450,234
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	88,029	11,759	37,711	53,835	72,127	72,131	56,120	68,599	70,454	71,774	50,412	64,242	73,050	12,235	51,885	51,815	60,607	41,229	19,168	40,915	51,485	38,521	37,666	38,329	33,210	30,819	10,911	22,370	13,484	27,201	12,949	22,682	23,146	22,146	13,013	10,582	21,810	2,465	19,836	18,697	19,596	19,108	13,281	20,867	15,321	-1,789	3,861	18,317	-455	6,180	7,491	9,793	9,145	7,035	6,043	6,924	-5,100	6,500	0	-1,200	4,645	1,588	6,164	450,234
Investments	-27,541	190,143	-401,459	87,401	-380,995	33,351	-911,356	-717,710	-1,042,347	-150,125	-52,168	-117,718	39,301	-303,506	-780,995	-365,871	-376,527	-91,767	-331,995	-167,265	-181,852	-236,042	-229,691	-107,854	-251,323	-291,046	-186,665	-283,593	-368,624	-149,283	-185,826	-114,393	-210,874	-179,383	-258,658	-79,379	-198,994	-115,640	-131,860	-90,685	-139,511	-173,417	-142,415	-104,964	-208,383	-78,613	-112,104	-92,761	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	72,223	-182,094	-138,638	152,476	77,155	-250,071	-72,539	425,021	227,282	147,916	60,013	182,235	33,744	91,983	72,874	100,518	-89,218	86,071	84,653	42,631	-16,565	-63,840	24,502	56,760	-45,446	-58,115	2,197	11,454	-76,140	-77,555	145,425	123,845	-9,930	-7,905	14,310	86,085	-2,840	-14,692	21,382	4,290	-5,385	21,545	36,865	45,665	11,030	-18,098	14,120	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	42,074	53,340	53,468	57,971	67,724	64,031	62,136	57,613	53,753	52,499	50,027	51,455	50,981	43,362	40,448	34,778	41,037	37,563	35,633	35,010	36,237	34,560	33,540	32,603	21,150	25,259	24,164	22,519	21,738	20,909	21,183	17,649	19,750	16,266	14,469	13,055	15,032	14,002	11,587	11,756	11,868	10,812	9,686	9,251	8,556	9,302	8,331	8,256	6,587	6,135	5,845	4,871	4,545	4,799	4,021	4,013	1,990	1,610	1,560	720	7,005	5,045	3,320	450,234
Other Cashflows From Financing Activities	-137	998,603	490,854	228,158	646,273	-565,950	-886,507	-116,680	795,857	1,347,828	528,809	662,054	480,902	365,113	1,602,429	376,954	-95,117	230,442	407,504	251,955	-720	403,199	44,540	-90,080	371,589	356,663	-24,946	-55,431	351,140	337,739	248,873	265,443	328	266,578	83,006	82,700	131,913	193,524	166,603	36,048	105,376	240,941	273,518	-50,909	151,727	179,755	33,964	60,070	196,103	223,906	161,544	-66,216	157,232	86,703	146,994	-49,395	70,900	155,000	84,300	89,800	-222,940	91,780	11,044	0
Other Cashflows From Investing Activities	0	-353	-5,754	-1,425	1,395	1,949	-1,148	-1,110	-39,329	-10,340	177	-1,990	-19,609	-39,165	-34	343	-54,290	-19,321	-499,212	48	1,700	320	378	874	4	-18	-8,879	426	-472	-9,927	-11,929	1,013	-3,817	-1,496	1,270	-11,488	79	-14,906	2,975	1,246	2,406	-15,150	1,028	1,676	-14,567	372	1,708	14	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Non Cash Items	6,265	4,583	7,661	7,675	10,696	20,309	12,740	13,716	15,099	6,992	20,458	8,224	15,126	6,771	5,104	14,678	9,203	8,500	-2,453	4,339	12,428	7,021	4,590	4,877	10,640	6,294	6,168	3,884	7,429	6,070	3,631	3,647	3,084	9,206	4,533	-4,575	6,735	6,639	-1,948	4,480	6,955	7,139	5,292	15,133	7,194	-11,083	1,324	8,021	-5,891	-2,082	603	7,200	6,538	-1,064	2,742	4,226	-1,504,788	160,901	79,140	1,165,929	3,227	-5,107	-24,042	-450,234
Sale Purchase Of Stock	131,135	0	168	846	-14	-189	-327	553	315	159	1,195	1,865	0	0	0	2,261	2,123	573	305	797	451,863	465	8	852	-125	-82	-209	-125	-3,188	446	587	1,752	303,553	629	372	2,446	322	714	54,482	3,124	9,568	3,259	530	259	3,630	24	536	461	0	0	0	0	0	0	0	0	0	0	0	3,500	0	0	0	0
Stock Based Compensation	881	929	982	808	816	804	797	790	545	461	558	291	363	339	353	277	319	293	206	282	167	202	244	238	254	294	285	337	267	291	297	343	408	293	263	301	278	301	2,082	1,020	316	308	322	259	261	266	263	259	256	254	240	225	204	195	179	135	201	189	200	195	179	172	159	0
Total Cash From Financing Activities	2,436	926,352	475,590	-86,207	634,880	-643,158	-899,023	-129,152	788,441	1,347,802	517,938	651,267	474,949	365,084	1,592,989	367,570	-101,041	230,436	399,448	243,936	444,748	397,351	41,213	-92,830	346,704	353,918	-25,613	-57,636	347,352	335,540	247,895	264,103	301,088	264,995	81,244	82,500	130,536	192,187	166,484	34,819	110,511	242,257	273,418	-51,021	133,029	179,573	33,864	59,970	196,003	223,906	150,806	-76,216	157,232	86,703	146,994	-49,395	70,900	155,000	84,300	93,300	-222,982	91,691	11,001	0
Total Cash From Operating Activities	89,032	12,719	38,344	55,149	73,842	72,786	56,734	69,265	70,845	66,033	62,693	66,760	73,790	12,866	52,402	52,232	61,441	41,533	19,627	41,674	52,255	38,973	38,188	38,885	37,293	34,906	17,051	29,214	27,880	29,743	15,931	24,967	24,328	26,060	13,153	10,883	22,013	3,178	20,066	18,858	19,915	19,318	13,786	21,179	18,600	-1,639	5,761	18,462	-34	6,284	7,791	10,282	9,377	7,081	6,119	6,998	-4,900	7,600	800	-1,000	4,645	1,588	6,164	450,234
Total Cashflows From Investing Activities	0	148,346	-407,213	85,976	-380,995	-629,898	-912,504	-718,820	-1,081,676	-150,125	-209,585	-119,708	39,301	-303,506	-780,995	-365,871	-376,527	-111,392	-332,454	-167,976	-180,929	-236,174	-229,835	-107,536	-255,402	-295,151	-201,684	-290,011	-383,492	-161,752	-200,737	-115,668	-215,873	-184,820	-257,619	-91,168	-199,118	-131,259	-129,115	-89,600	-137,424	-188,770	-141,899	-103,600	-226,229	-78,391	-112,296	-92,892	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

Income Statement

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31
Cost Of Revenue	33,342	31,075	27,157	15,490	27,448	23,298	22,814	20,917	20,486	14,972	10,929	10,722	10,414	0	0	20,500
Depreciation And Amortization	4,436	4,123	4,388	4,103	3,952	3,648	2,845	3,058	2,595	1,838	1,841	1,218	1,173	1,066	1,087	900
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	3,037	397,189	253,349	214,208	186,861	232,790	172,683	136,623	106,709	88,097	75,594	66,466	51,907	41,996	26,995	31,325
Ebitda	3,037	401,312	257,737	218,311	190,813	236,438	175,528	139,681	109,304	89,935	77,435	67,684	53,080	43,062	28,082	32,225
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	0	-3,100	0	0	0	0	0	0	0	0	0
Gross Profit	813,246	473,176	390,798	352,663	284,179	260,917	223,655	184,292	155,748	126,863	109,661	90,207	71,843	67,028	48,273	17,200
Income Before Tax	244,588	308,828	253,349	214,208	186,861	168,842	137,350	110,818	89,005	73,978	61,975	51,565	35,827	26,736	8,658	10,800
Income Tax Expense	37,735	57,324	45,615	44,639	37,618	31,902	44,258	29,339	25,465	21,601	20,358	17,120	12,389	9,358	2,780	3,825
Interest Expense	402,309	88,423	31,802	50,985	103,158	63,948	35,333	25,805	17,704	14,119	13,619	14,901	16,080	15,260	18,337	20,500
Interest Income	754,457	559,315	416,305	389,022	390,803	326,627	262,756	212,902	179,975	0	0	0	0	0	0	0
Minority Interest	0	0	0	500	502	502	502	377	377	252	0	0	0	0	0	0
Net Income	206,853	251,504	207,734	169,569	149,243	136,940	93,092	81,479	63,540	52,377	41,617	34,445	23,438	17,378	5,878	7,000
Net Income Applicable To Common Shares	0	251,442	207,672	169,506	149,180	136,877	93,030	81,432	63,260	51,946	41,201	34,045	23,238	0	0	0
Net Income From Continuing Ops	232,503	251,504	207,734	169,569	149,243	136,940	93,092	81,479	63,540	52,377	41,617	68,685	23,438	0	0	0
Net Interest Income	431,634	470,892	384,503	338,037	287,645	262,679	227,423	187,097	162,271	0	0	0	0	0	0	0
Non Operating Income Net Other	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Recurring	0	0	0	0	0	0	0	0	2,100	2,100	0	0	0	0	0	0
Operating Income	3,037	397,189	253,349	214,208	186,861	232,790	1,563	6,241	3,543	2,634	2,144	1,703	1,597	41,996	26,995	10,800
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	810,209	31,075	164,606	153,945	124,766	43,864	261,193	206,661	176,432	142,091	123,937	107,320	89,814	25,032	21,278	6,881
Preferred Stock And Other Adjustments	0	0	62	63	0	63	62	47	280	431	416	400	200	0	0	0
Reconciled Depreciation	4,186	4,123	4,388	4,103	3,952	3,648	2,845	0	0	0	0	0	0	0	0	0
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	768	446	498	338	581	557	716	544	562	477	532	454	0	313	0	0
Selling General Administrative	85,763	82,517	73,407	65,768	60,758	55,718	51,522	47,355	41,573	33,111	32,877	28,325	21,314	21,083	16,396	26,900
Tax Provision	48,982	57,324	45,615	44,639	37,618	31,902	44,258	29,339	25,465	0	0	0	0	0	0	0
Total Operating Expenses	-810,209	31,075	-164,606	-153,945	-124,766	-43,864	238,379	185,744	155,946	127,119	113,008	96,598	79,400	-25,032	-21,278	47,400
Total Other Income Expense Net	241,551	-88,361	248,685	212,593	185,118	-63,948	135,787	104,577	85,462	71,344	59,831	49,862	34,230	-15,260	-18,337	0
Total Revenue	813,246	504,251	417,955	368,153	311,627	284,215	246,469	205,209	176,234	141,835	120,590	100,929	82,257	67,028	48,273	37,700

	2024-03-31	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	-	19,292	7,826	6,224	0	0	10,613	7,253	0	12,329	6,541	4,560	0	0	3,607	0	0	0	6,606	6,912	6,767	27,824	6,070	6,556	6,008	19,707	5,476	5,634	5,460	11,166	4,969	4,905	7,841	8,598	4,413	4,573	6,151	6,462	4,406	3,552	5,746	5,966	2,542	2,792	7,548	6,073	2,696	2,488	2,072	0	2,331	3,058	3,257	0	2,886	3,435	2,796	4,320	4,650	4,480	4,890	0	0	0	0
Depreciation And Amortization	-	1,195	1,099	1,071	1,071	945	1,057	1,040	1,081	1,111	1,112	1,083	1,082	1,112	1,013	989	989	975	997	995	985	898	936	915	899	355	848	818	824	590	812	835	821	682	609	792	512	341	500	500	497	485	448	594	314	307	307	303	301	329	278	300	266	266	263	267	270	300	200	300	300	243	233	225	0
Discontinued Operations	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	-	-432	-302	152,047	142,711	131,981	99,950	86,733	78,556	69,379	71,922	71,356	72,494	74,817	65,425	63,014	61,937	73,736	75,194	72,659	68,430	65,964	59,875	55,724	51,227	46,655	46,131	42,087	37,810	36,127	35,856	32,593	32,047	29,616	28,950	25,439	22,704	25,371	21,800	20,507	20,417	21,442	19,667	17,559	16,926	16,289	17,647	16,104	16,426	13,956	13,548	12,999	11,404	11,127	11,303	9,902	9,664	7,380	6,880	6,770	5,960	-9,644	-7,551	-5,255	0
Ebitda	599	763	797	153,118	143,782	132,926	101,007	87,773	79,637	70,490	73,034	72,439	73,576	75,929	66,438	64,003	62,926	74,711	76,191	73,654	69,415	66,862	60,811	56,639	52,126	47,010	46,979	42,905	38,634	36,717	36,668	33,428	32,868	30,298	29,559	26,231	23,216	25,712	22,300	21,007	20,914	21,927	20,115	18,153	17,240	16,596	17,954	16,407	16,727	14,285	13,826	13,299	11,670	11,393	11,566	10,169	9,934	7,680	7,080	7,070	6,260	-9,401	-7,318	-5,030	716,095
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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	226,710	209,770	205,380	103,609	181,322	129,350	124,744	118,621	113,670	96,186	97,805	99,706	100,828	100,318	89,647	90,267	84,314	82,829	72,609	68,951	66,953	74,475	66,384	63,425	61,297	66,313	57,710	54,738	51,138	55,148	47,740	44,833	47,905	46,720	41,271	39,143	40,114	37,570	31,919	31,364	33,024	30,604	28,692	27,262	28,698	25,181	23,712	22,845	21,935	23,153	18,696	16,772	14,990	17,343	14,449	12,877	13,242	9,800	7,760	7,300	5,080	14,393	13,881	13,341	2,198
Income Before Tax	60,637	47,226	61,888	64,713	70,761	84,123	77,069	76,546	71,090	61,575	64,006	63,305	64,463	65,833	54,397	51,168	42,810	51,326	47,069	44,957	43,509	44,658	42,680	41,850	39,654	36,003	36,886	34,116	30,345	29,036	29,083	26,434	26,265	24,326	24,280	21,441	18,958	21,668	18,262	17,061	16,987	17,832	16,133	14,348	13,662	12,665	13,952	12,355	12,593	9,986	9,455	8,967	7,419	7,123	7,331	6,214	6,068	3,060	2,230	2,290	1,070	10,830	7,848	5,140	716,095
Income Tax Expense	10,611	5,152	8,548	11,245	12,790	16,399	13,038	14,410	13,477	7,822	11,507	13,278	13,008	14,852	11,035	10,720	8,032	10,289	9,506	9,324	8,499	8,421	8,120	8,310	7,051	14,853	11,627	9,952	7,826	7,298	8,174	7,558	8,616	4,576	8,014	6,972	5,903	6,636	4,260	5,476	5,229	5,964	5,321	4,662	4,411	4,109	4,650	4,024	4,337	3,399	3,320	3,122	2,548	2,578	2,532	2,193	2,055	1,070	620	730	350	3,825	2,803	1,820	0
Interest Expense	124,215	127,375	113,508	88,405	73,021	47,889	22,881	10,187	7,466	7,804	7,916	8,051	8,031	8,984	11,028	11,846	19,127	22,410	28,125	27,702	24,921	21,306	17,195	13,874	11,573	10,652	9,245	7,971	7,465	7,091	6,773	6,159	5,782	5,290	4,670	3,998	3,746	3,703	3,538	3,446	3,432	3,610	3,534	3,211	3,264	3,624	3,695	3,749	3,833	3,970	4,093	4,032	3,985	4,004	3,972	3,688	3,596	4,320	4,650	4,480	4,890	20,474	15,399	10,395	0
Interest Income	-	229,062	213,206	189,656	181,322	170,273	149,299	126,555	113,188	108,954	104,236	102,719	100,396	101,065	96,110	95,080	96,767	98,187	101,130	97,787	93,699	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	500	500	500	500	500	502	502	502	502	502	502	502	502	502	502	-2,510	5,020	-2,510	502	1,885	-1,885	377	0	377	0	0	0	252	0	0	2	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	50,026	42,074	53,340	53,468	57,971	67,724	64,031	62,105	57,613	53,753	52,499	50,027	51,455	50,981	43,362	40,448	34,778	41,037	37,563	35,633	35,010	36,237	34,560	33,540	32,603	21,150	25,259	24,164	22,519	21,738	20,909	18,876	17,649	19,750	16,266	14,469	13,055	15,032	14,002	11,585	11,756	11,868	10,812	9,686	9,251	8,556	9,302	8,331	8,256	6,587	6,135	5,845	4,871	4,545	4,799	4,021	4,013	1,990	1,610	1,560	720	7,005	5,045	3,320	716,095
Net Income Applicable To Common Shares	-	0	53,340	53,437	57,971	67,693	64,031	62,105	57,613	53,722	52,499	49,996	51,455	50,949	43,362	40,417	34,778	41,005	37,563	35,602	35,010	36,205	34,560	33,509	32,603	21,119	25,259	24,133	22,519	24,021	20,909	18,853	17,649	19,726	16,233	14,346	12,955	14,919	13,902	11,469	11,656	11,752	10,712	9,586	9,151	8,456	9,202	8,231	8,156	0	6,035	5,845	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income From Continuing Ops	-	42,074	53,340	53,468	57,971	67,724	64,031	62,136	57,613	53,753	52,499	50,027	51,455	50,981	43,362	40,448	34,778	41,037	37,563	35,633	35,010	36,237	34,560	33,540	32,603	21,150	25,259	24,164	22,519	24,045	20,909	18,876	17,649	19,750	16,266	14,469	13,055	15,032	14,002	11,585	11,758	11,868	10,812	9,686	9,251	42,796	9,302	8,331	8,256	0	6,135	5,845	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income	-	101,687	99,698	101,251	108,301	122,384	126,418	116,368	105,722	101,150	96,320	94,668	92,365	92,081	85,082	83,234	77,640	75,777	73,005	70,085	68,778	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Operating Income Net Other	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Recurring	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,100	0	0	0	2,100	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Operating Income	599	763	797	153,118	142,711	131,981	99,950	86,733	78,556	69,379	1,162	777	958	1,615	262	241	469	1,743	453	392	327	1,239	396	475	407	1,563	371	385	1,569	6,241	1,542	988	1,127	3,543	987	834	739	2,634	700	661	487	2,144	553	487	462	1,703	443	445	696	1,597	425	712	561	11,127	784	401	522	3,060	461	2,290	1,070	1,434	1,007	692	716,095
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	226,111	228,299	212,409	43,285	6,702	4,957	147,285	121,268	8,252	54,239	103,074	101,942	99,870	59,571	95,848	90,026	83,845	45,907	100,677	97,395	93,372	42,431	83,662	77,921	73,602	39,060	67,270	63,153	57,948	35,086	53,149	51,062	46,778	31,956	45,545	43,375	39,375	26,263	36,157	34,763	32,537	21,046	31,946	30,205	28,236	17,265	27,300	26,209	24,875	14,366	22,887	21,368	20,400	10,802	19,175	18,595	17,980	11,577	7,299	4,720	2,263	6,881	4,484	2,505	713,897
Preferred Stock And Other Adjustments	-	0	0	31	0	0	0	31	0	31	0	31	0	0	0	31	0	0	0	31	0	32	0	31	0	31	0	31	0	24	0	23	0	24	33	123	100	115	100	116	100	116	100	100	100	100	100	100	100	0	100	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	-	1,195	1,099	1,071	1,071	945	1,057	1,040	1,081	1,111	1,112	1,083	1,082	1,112	1,013	989	989	975	997	995	985	898	936	915	899	355	848	818	824	590	812	835	821	682	609	792	512	341	500	500	497	485	448	594	314	307	307	303	301	329	278	300	266	266	263	267	270	300	200	300	300	243	233	225	0
Research Development	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	-	768	0	0	0	446	0	0	0	498	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	532	0	0	0	454	0	0	0	0	0	0	0	313	0	0	0	4,320	4,650	4,480	4,890	0	0	0	0
Selling General Administrative	-	33,330	22,426	21,037	20,583	20,541	20,662	21,881	19,433	18,345	19,625	18,312	17,125	16,336	16,055	16,387	16,990	14,851	15,203	15,420	15,284	13,287	13,745	14,257	14,429	12,462	13,238	13,112	12,710	12,269	11,733	11,536	11,817	9,617	11,276	11,052	9,628	6,848	8,423	9,626	8,214	11,831	7,453	7,482	6,111	11,060	6,106	5,604	5,555	5,974	5,126	5,026	4,214	8,631	4,173	3,147	3,482	11,050	10,180	9,490	8,890	0	0	0	0
Tax Provision	-	5,152	8,548	11,245	12,790	16,399	13,038	14,410	13,477	7,822	11,507	13,278	13,008	14,852	11,035	10,720	8,032	10,289	9,506	9,324	8,499	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-226,111	-228,299	-212,409	43,285	6,702	4,957	136,672	114,015	8,252	-66,568	96,533	97,382	-99,870	-59,571	92,241	-90,026	-83,845	-45,907	94,071	90,483	86,605	-42,431	77,592	71,365	67,594	-39,060	61,794	57,519	52,488	-35,086	48,180	46,157	-46,778	-31,956	41,132	38,802	-39,375	-26,263	31,751	31,211	-32,537	-21,046	29,404	27,413	-28,236	-17,265	24,604	23,721	22,803	-14,366	20,556	18,310	17,143	10,802	16,289	15,160	15,184	15,370	14,830	13,970	13,780	6,881	4,484	2,505	713,897
Total Other Income Expense Net	60,038	46,463	61,091	-88,405	-71,950	-47,858	-22,881	-10,187	-7,466	-7,804	62,844	62,528	63,505	64,218	54,135	50,927	42,341	49,583	46,616	44,565	43,182	43,419	42,284	41,375	39,247	34,440	36,515	33,731	28,776	22,795	27,541	25,446	25,138	20,783	23,293	20,607	18,219	19,034	17,562	16,400	16,500	15,688	15,580	13,861	13,200	10,962	13,509	11,910	11,897	8,389	9,030	8,255	6,858	-4,004	6,547	5,813	5,546	8,658	1,682	1,387	1,434	9,396	6,841	4,448	0
Total Revenue	226,710	229,062	213,206	109,833	181,322	129,350	135,357	125,874	113,670	108,515	104,346	104,266	100,828	100,318	93,254	90,267	84,314	82,829	79,215	75,863	73,720	74,475	72,454	69,981	67,305	66,313	63,186	60,372	56,598	55,148	52,709	49,738	47,905	46,720	45,684	43,716	40,114	37,570	36,325	34,916	33,024	30,604	31,234	30,054	28,698	25,181	26,408	25,333	24,007	23,153	21,027	19,830	18,247	17,343	17,335	16,312	16,038	14,120	12,410	11,780	9,970	14,393	13,881	13,341	2,198

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

Gross Profit (+$)
totalRevenue	813,246
Cost of Revenue	-33,342
Gross Profit	813,246	779,904

Operating Income (+$)
Gross Profit	813,246
Operating Expense	--810,209
Operating Income	3,037	1,623,455

Operating Expense (+$)
Research Development	0
Selling General Administrative	85,763
Selling And Marketing Expenses	768
Operating Expense	-810,209	86,531

Net Interest Income (+$)
Interest Income	754,457
Interest Expense	-402,309
Other Finance Cost	-79,486
Net Interest Income	431,634

Pretax Income (+$)
Operating Income	3,037
Net Interest Income	431,634
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	244,588	-238,514 EBIT - interestExpense = -399,272 244,588 609,162
Interest Expense	402,309
Earnings Before Interest and Taxes (EBIT)	3,037	646,897
Earnings Before Interest and Taxes (EBITDA)	3,037

After tax Income (+$)
Income Before Tax	244,588
Tax Provision	-48,982
Net Income From Continuing Ops	232,503	195,606
Net Income	206,853
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	810,209
Total Other Income/Expenses Net	241,551	-431,634

Technical Analysis of ServisFirst Bancshares Inc
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of ServisFirst Bancshares Inc. The general trend of ServisFirst Bancshares Inc is BEARISH with 14.3% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine ServisFirst Bancshares Inc's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

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

Indicator zone transitions	Bullish trend (-14.3%)		Bearish trend (14.3%)
Overbought to neutral	Bullish pullback	=	Bearish reversal
Upper to lower neutral	Bullish correction	=	Bearish continuation
Nuetral to oversold	Oversold	=	Oversold
Oversold to neutral	Bullish reversal	=	Bearish correction
Lower to upper neutral	Bullish continuation	=	Bearish pullback
Nuetral to overbought	Overbought	=	Overbought

1. Price Targets

1.1 Support & Resistance

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

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

Score

Let's take a look at the Support & Resistance of ServisFirst Bancshares Inc.

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

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

The bullish price targets are: 65.15 < 65.67 < 66.12.

The bearish price targets are: 59.55 > 58.11 > 57.12.

Tweet this

ServisFirst Bancshares Inc Daily Support & Resistance Chart

2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

Moving averages are lagging trend indicators.
There are many types of moving averages.
Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of ServisFirst Bancshares Inc. The current mas is .

The long score for the Moving Averages is 6/14.
The longshort score for the Moving Averages is -2/(-14 +14).

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

Directionalities and relatives.

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

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

Shows the moving average of the selected period.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

There are various kinds of moving averages:

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

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

Simple moving average

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

Source: Tradingview.com

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

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

Exponential moving average

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

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

Where:

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

Smoothed moving average

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

Linear weighted moving average

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

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

Where:

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

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

Source: Tradingview.com

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

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

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

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

ServisFirst Bancshares Inc Daily Moving Averages Chart

2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

MACD is a lagging momentum indicator.
Uses two moving averages.
Can show buy or sell signals based on momentum.
Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of ServisFirst Bancshares Inc. The current macd is -0.66128022.

The long score for the Moving Average Convergence/Divergence (MACD) is 2/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is 0/(-4 +4).

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

ServisFirst Bancshares Inc Daily Moving Average Convergence/Divergence (MACD) Chart

2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.

Score

Let's take a look at the Directional Movement Index (DMI) of ServisFirst Bancshares Inc. The current adx is 13.85.

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

PLUS_ID > MINUS_DI: The +DI line is above the -DI line. This indicates a bullish signal in the market, as the positive directional movement is currently stronger than the negative directional movement, showing that buyers have the upper hand. Market psychology suggests that traders are optimistic, expecting further price increases, and are more willing to buy ServisFirst Bancshares Inc shares, leading to potential upward momentum in its price. +1
PLUS_ID > MINUS_DI && ADX < 25 && ADX trending down: The ADX is below 25 and indicates a weak or no trend. Also, the ADX is declining so there is no trend indication.

ServisFirst Bancshares Inc Daily Directional Movement Index (DMI) Chart

2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

Parabolic SAR (stop and reverse) is a lagging trend indicator.
Shows the current trend.
Shows potential entry signals.
Shows potential exit signals.
Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of ServisFirst Bancshares Inc. The current sar is 58.80.

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

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

ServisFirst Bancshares Inc Daily Parabolic SAR Chart

3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

Leading momentum indicator, meaning the signals are instant.
Ranges between 0 and 100.
Above 70 is considered overbought.
Below 30 is considered oversold.
Above or below 50 can also be used to determine price trend or support and resistance.
RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of ServisFirst Bancshares Inc. The current rsi is 41.39. The current phase is Continuation in bear market.

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

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

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

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

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

Original usage

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

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

How you can use RSI (Divergence)

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

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

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

Source: Tradingview.com

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

Use tradingview to add indicators

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

Tradingview

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

View tool on Tradingview.com

RSI divergence

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

There are four types of divergences:

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

Regular bullish divergence

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

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

Source: Tradingview.com

Regular bearish divergence

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

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

Source: Tradingview.com

Hidden bullish divergence

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

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

Source: Tradingview.com

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

Hidden bearish divergence

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

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

Source: Tradingview.com

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

ServisFirst Bancshares Inc Daily Relative Strength Index (RSI) Chart

3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

Leading momentum indicator, meaning the signals are instant.
Used to determine overbought and oversold areas much like the RSI.
Ranges between 0 and 100.
Above 80 is considered overbought.
Below 20 is considered oversold.
Consists of two lines named K and D.
K compares the highest high and lowest low on the selected price range.
The D line is a moving average of the K line.
Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of ServisFirst Bancshares Inc. The current phase is Oversold in bear market.

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

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

ServisFirst Bancshares Inc Daily Stochastic Oscillator Chart

3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

Lagging or leading Momentum indicator
When the CCI is above zero, the price is above the historical average
When the CCI is below zero, the price is below the historical average
Used for spotting trends
- If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
- If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of ServisFirst Bancshares Inc. The current cci is -61.31945995.

ServisFirst Bancshares Inc Daily Commodity Channel Index (CCI) Chart

3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

Lagging momentum indicator
Ranges between +100 and -100
Considered overbought above +50
Considered oversold below -50
It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of ServisFirst Bancshares Inc. The current cmo is -23.12628037.

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

ServisFirst Bancshares Inc Daily Chande Momentum Oscillator (CMO) Chart

3.5 Williams %R

Shows the current price relative to the highest high over the last 14 days.

Lagging momentum indicator
Ranging between 0 and -100
Above -20 is considered overbought
Below -80 is considered oversold
Is prone to give false signals

Score

Let's take a look at the Williams %R of ServisFirst Bancshares Inc. The current willr is -86.56548623.

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

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

ServisFirst Bancshares Inc Daily Williams %R Chart

4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

Lagging volatility indicator
Uses 3 bands: one upper, one lower and one in the middle
Works best when the middle band reflects an intermediate trend (MA20).
When the price is moving closer to the upper band, the market might be overbought
When the price is moving closer to the lower band, the market might be oversold

Score

Let's take a look at the Bollinger Bands of ServisFirst Bancshares Inc.

ServisFirst Bancshares Inc Daily Bollinger Bands Chart

4.2 Average True Range (ATR)

Measures market volatility

Leading volatility indicator
Can be used to determine stop-loss positions
Calculated by:
- Current high minus the current low
- Current high minus the previous close
- Current low minus the previous close
The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of ServisFirst Bancshares Inc. The current atr is 2.15670297.

ServisFirst Bancshares Inc Daily Average True Range (ATR) Chart

5. Volume Indicators

5.1 On-Balance Volume (OBV)

Measures market volatility

Leading momentum indicator
Calculation:
- If the closing price is above the previous closing price: OBV = previous OBV + current volume
- If the closing price is below the previous closing price: OBV = previous OBV - current volume
- If the closing price is the same as the previous closing price than the OBV is the same.
Can be used to confirm price trends
Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of ServisFirst Bancshares Inc. The current obv is -7,134,591.

ServisFirst Bancshares Inc Daily On-Balance Volume (OBV) Chart

5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

Lagging momentum indicator
Looks like RSI but uses volume as an extra metric (RSI only considers price)
Above 80 is considered overbought
Below 20 is considered oversold
Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of ServisFirst Bancshares Inc. The current mfi is 32.07.

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

ServisFirst Bancshares Inc Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for ServisFirst Bancshares Inc.

6.2. Trading Signals

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

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

6.3. Candlestick Patterns

ServisFirst Bancshares Inc Daily Candlestick Chart

Date	Candlestick Pattern

6.4. Technical Score

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

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	41.393
Ma 20	Greater than	Ma 50	61.296
Ma 50	Greater than	Ma 100	62.649
Ma 100	Greater than	Ma 200	63.076
Open	Greater than	Close	61.000
Total			2/5 (40.0%)

Create your own Symbol Scanner

Get notifications about ServisFirst Bancshares Inc

I send you an email if I find something interesting about ServisFirst Bancshares Inc.

ServisFirst Bancshares Inc Buy, Hold or Sell?

Let's analyse ServisFirst Bancshares Inc together

Get notifications about ServisFirst Bancshares Inc

Quick analysis of ServisFirst Bancshares Inc (30 sec.)

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

How much money do you get?

What is your share worth?

+ What do you gain per year?

For what price can you sell your share?

1. Valuation of ServisFirst Bancshares Inc (5 min.)

$59.30

$26.41

$34.01 - $58.94

$60.42 - $85.35

2. Growth of ServisFirst Bancshares Inc (5 min.)

Is ServisFirst Bancshares Inc growing?

How much money is ServisFirst Bancshares Inc making?

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

3. Financial Health of ServisFirst Bancshares Inc (5 min.)

4. Comparing to competitors in the Banks - Regional industry (5 min.)

Industry Rankings (Banks - Regional)

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

What can you expect buying and holding a share of ServisFirst Bancshares Inc?

Speculation

Investing

How much money are you going to get?

When do you get the money?

How sure are you?

Linear %

Fundamentals of ServisFirst Bancshares Inc

About ServisFirst Bancshares Inc

Financial Health

Valuation

1.1. Profitability of ServisFirst Bancshares Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

Compared to industry (Banks - Regional)

1.1.2. Return on Assets

Trends

Compared to industry (Banks - Regional)

1.1.3. Return on Equity

Trends

Compared to industry (Banks - Regional)

1.2. Operating Efficiency of ServisFirst Bancshares Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

1.2.2. Operating Ratio

Trends

1.3. Liquidity of ServisFirst Bancshares Inc.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Banks - Regional)

1.3.2. Quick Ratio

Trends

1.4. Solvency of ServisFirst Bancshares Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

Compared to industry (Banks - Regional)

1.4.2. Debt to Equity Ratio

Trends

Compared to industry (Banks - Regional)

2. Market Valuation of ServisFirst Bancshares Inc

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Banks - Regional)

ServisFirst Bancshares Inc
Buy, Hold or Sell?