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

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

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Quick analysis of SFL Corporation Ltd (30 sec.)

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

How much money do you get?

$0.89

When do you have the money?

1 year

How often do you get paid?

100.0%

What is your share worth?

Current worth

$7.56

Expected worth in 1 year

$7.18

How sure are you?

87.5%

+ What do you gain per year?

Total Gains per Share

$0.52

Return On Investment

4.1%

For what price can you sell your share?

Current Price per Share

$12.60

Expected price per share

$11.45 - $13.46

How sure are you?

50%

1. Valuation of SFL Corporation Ltd (5 min.)

Live pricePrice per Share (EOD)

$12.60

Book Value per Share

$7.56

Intrinsic Value Per Share

$-28.31 - $-5.24

Total Value Per Share

$-20.75 - $2.32

My calculation of the intrinsic value of SFL Corporation Ltd 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: ($-0.24) 3Y: ($-0.28) TTM: ($0.14)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($0.00) 3Y: ($-0.04) TTM: ($0.10)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$-1.41	$-0.91	$-1.68 - $-0.90
2	$-3.26	$-1.72	$-2.25 - $-0.82
3	$-5.50	$-2.44	$-2.82 - $-0.75
4	$-8.07	$-3.07	$-3.40 - $-0.67
5	$-10.94	$-3.62	$-3.97 - $-0.60
6	$-14.05	$-4.08	$-4.54 - $-0.52
7	$-17.38	$-4.48	$-5.11 - $-0.45
8	$-20.89	$-4.80	$-5.68 - $-0.37
9	$-24.54	$-5.05	$-6.26 - $-0.30
10	$-28.31	$-5.24	$-6.83 - $-0.23

2. Growth of SFL Corporation Ltd (5 min.)

Is SFL Corporation Ltd growing?

	Current year	Previous year	Grow	Grow %
How rich?	$1b	$1b	-$5.3m	-0.5%

How much money is SFL Corporation Ltd making?

	Current year	Previous year	Grow	Grow %
Making money	$20.9m	$37.2m	-$16.2m	-77.5%
Net Profit Margin	10.8%	23.0%	-	-

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

Quarterly Yearly

3. Financial Health of SFL Corporation Ltd (5 min.)

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

Industry Rankings (Marine Shipping)

Richest
#59 / 193

Most Revenue
#76 / 193

Most Profit
#87 / 193

Most Efficient
#97 / 193

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

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

What can you expect buying and holding a share of SFL Corporation Ltd?

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

Speculation

The Price per Share of SFL Corporation Ltd is $12.60. 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 SFL Corporation Ltd.
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 SFL Corporation Ltd, 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 $7.56. Based on the TTM, the Book Value Change Per Share is $-0.09 per quarter. Based on the YOY, the Book Value Change Per Share is $0.20 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 $0.22 per quarter.

Based on historical numbers we can estimate the returns while holding a share of SFL Corporation Ltd.

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	0.23	1.8%	0.15	1.2%	0.37	2.9%	0.11	0.9%	0.17	1.4%
Usd Book Value Change Per Share	-0.02	-0.2%	-0.09	-0.7%	0.20	1.6%	-0.05	-0.4%	-0.03	-0.2%
Usd Dividend Per Share	0.23	1.8%	0.22	1.8%	0.20	1.6%	0.21	1.7%	0.25	2.0%
Usd Total Gains Per Share	0.21	1.6%	0.13	1.0%	0.40	3.2%	0.16	1.2%	0.22	1.7%
Usd Price Per Share	11.28	-	10.32	-	9.50	-	9.87	-	12.48	-
Price to Earnings Ratio	12.36	-	23.99	-	6.49	-	18.48	-	20.21	-
Price-to-Total Gains Ratio	54.84	-	97.47	-	23.80	-	-43.68	-	8.67	-
Price to Book Ratio	1.49	-	1.35	-	1.24	-	1.34	-	1.55	-
Price-to-Total Gains Ratio	54.84	-	97.47	-	23.80	-	-43.68	-	8.67	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	12.6
Number of shares	79

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.22	0.21
Usd Book Value Change Per Share	-0.09	-0.05
Usd Total Gains Per Share	0.13	0.16
Gains per Quarter (79 shares)	10.22	12.40
Gains per Year (79 shares)	40.88	49.58

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	71	-30	31	66	-16	40
2	141	-60	72	131	-32	90
3	212	-89	113	197	-48	140
4	283	-119	154	263	-65	190
5	353	-149	195	329	-81	240
6	424	-179	236	394	-97	290
7	495	-208	277	460	-113	340
8	565	-238	318	526	-129	390
9	636	-268	359	592	-145	440
10	707	-298	400	657	-162	490

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%	18.0	2.0	0.0	90.0%	38.0	2.0	0.0	95.0%	81.0	2.0	0.0	97.6%
Book Value Change Per Share	0.0	4.0	0.0	0.0%	8.0	4.0	0.0	66.7%	9.0	11.0	0.0	45.0%	17.0	20.0	3.0	42.5%	43.0	30.0	10.0	51.8%
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%	79.0	0.0	4.0	95.2%
Total Gains per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	17.0	3.0	0.0	85.0%	35.0	5.0	0.0	87.5%	72.0	9.0	2.0	86.7%

Fundamentals of SFL Corporation Ltd

About SFL Corporation Ltd

https://www.sflcorp.com
Marine Shipping
21
Par-la-Ville Place, Hamilton, Bermuda, HM 08
Google Maps Bing Maps

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs. As of December 31, 2023, the company owned seven crude oil carriers, six oil product tankers, 15 dry bulk carriers, 32 container vessels, one jack-up drilling rig, one ultra-deepwater drilling rig, and five car carriers. It primarily operates in Bermuda, Canada, Cyprus, Liberia, Namibia, Norway, Singapore, the United Kingdom, and the Marshall Islands. The company was formerly known as Ship Finance International Limited and changed its name to SFL Corporation Ltd. in September 2019. SFL Corporation Ltd. was founded in 2003 and is based in Hamilton, Bermuda.

Fundamental data was last updated by Penke on 2024-04-05 01:03:03.

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.
The company is efficient in keeping operating costs low.

Liquidity Details

	Compared to previous year	Compared to industry
The company is unable to pay all its short-term debts.
The company is just not able to pay all its short-term debts with the most liquid assets.

Solvency Details

	Compared to previous year	Compared to industry
The company is able to pay all its debts by selling its assets.
The company is 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 fair priced.
Based on how much money comes from the company's main activities, the company is cheap.

1.1. Profitability of SFL Corporation Ltd.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit SFL Corporation Ltd earns for each $1 of revenue.

Above 10% is considered healthy but always compare SFL Corporation Ltd to the Marine Shipping industry mean.
A Net Profit Margin of 15.0% means that $0.15 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of SFL Corporation Ltd:

The MRQ is 15.0%. The company is making a huge profit. +2
The TTM is 10.8%. The company is making a huge profit. +2

Trends

Current period		Compared to		+/-
MRQ	15.0%	TTM	10.8%	+4.2%
TTM	10.8%	YOY	23.0%	-12.2%
TTM	10.8%	5Y	7.2%	+3.6%
5Y	7.2%	10Y	20.2%	-13.0%

Compared to industry (Marine Shipping)

Period	Company	Industry (mean)	+/-
MRQ	15.0%	12.4%	+2.6%
TTM	10.8%	11.4%	-0.6%
YOY	23.0%	15.5%	+7.5%
5Y	7.2%	10.1%	-2.9%
10Y	20.2%	7.0%	+13.2%

Measures how much net profit SFL Corporation Ltd earns for each $1 of revenue.

Revenue is the amount of profit SFL Corporation Ltd 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 SFL Corporation Ltd 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 SFL Corporation Ltd to the Marine Shipping industry mean.
Can be used to compare companies within the Marine Shipping industry.

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

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of SFL Corporation Ltd. If profit margins remain low (compared to the Marine Shipping 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 SFL Corporation Ltd is 0.15. This means that SFL Corporation Ltd earned $0.15 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 Marine Shipping industry is 12.4%.
What is the trend?
The trend is important because it shows you how SFL Corporation Ltd is performing over time. The most recent quarter might be important if SFL Corporation Ltd 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 SFL Corporation Ltd 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 SFL Corporation Ltd with other companies in the same industry (Marine Shipping).
Net profit margin should rise over the years.
Can be influenced when SFL Corporation Ltd sells assets (profit will increase while costs remain the same).
It won’t show what part of SFL Corporation Ltd 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 SFL Corporation Ltd

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 SFL Corporation Ltd = 31,368
Total revenue MRQ SFL Corporation Ltd = 209,573
$31,368 / $209,573 = 0.15 or 15.0%

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 SFL Corporation Ltd is using its assets to generate profit.

Above 5% is considered healthy but always compare SFL Corporation Ltd to the Marine Shipping industry mean.
0.8% Return on Assets means that SFL Corporation Ltd generated $0.01 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of SFL Corporation Ltd:

The MRQ is 0.8%. Using its assets, the company is inefficient in making profit. -1
The TTM is 0.6%. Using its assets, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	0.8%	TTM	0.6%	+0.3%
TTM	0.6%	YOY	1.0%	-0.5%
TTM	0.6%	5Y	0.3%	+0.2%
5Y	0.3%	10Y	0.7%	-0.4%

Compared to industry (Marine Shipping)

Period	Company	Industry (mean)	+/-
MRQ	0.8%	2.0%	-1.2%
TTM	0.6%	1.9%	-1.3%
YOY	1.0%	3.0%	-2.0%
5Y	0.3%	1.9%	-1.6%
10Y	0.7%	1.4%	-0.7%

Shows how efficient SFL Corporation Ltd 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 SFL Corporation Ltd to the Marine Shipping 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 SFL Corporation Ltd is using its resources to generate profit. If the return on assets (0.8%) from SFL Corporation Ltd are higher than the Marine Shipping mean (2.0%) that means SFL Corporation Ltd 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 SFL Corporation Ltd is 0.8%. This means the company generated $0.01 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the Marine Shipping industry is 2.0%.
What is the trend?
The trend is important because it shows you how SFL Corporation Ltd is performing over time. The most recent quarter might be important if SFL Corporation Ltd 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 SFL Corporation Ltd 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 SFL Corporation Ltd

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

Income statement
Balance sheet

Net income MRQ (income statement) from SFL Corporation Ltd = 31,368
Total assets MRQ (balance sheet) from SFL Corporation Ltd = 3,731,389
31,368 / 3,731,389 = 0.01 or 0.8%

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

Above 15%-20% is considered healthy but always compare SFL Corporation Ltd to the Marine Shipping industry mean.
3.0% Return on Equity means SFL Corporation Ltd generated $0.03 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of SFL Corporation Ltd:

The MRQ is 3.0%. Using its investors money, the company is inefficient in making profit. -1
The TTM is 2.0%. Using its investors money, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	3.0%	TTM	2.0%	+1.0%
TTM	2.0%	YOY	3.5%	-1.5%
TTM	2.0%	5Y	1.0%	+1.0%
5Y	1.0%	10Y	1.9%	-0.8%

Compared to industry (Marine Shipping)

Period	Company	Industry (mean)	+/-
MRQ	3.0%	4.2%	-1.2%
TTM	2.0%	4.0%	-2.0%
YOY	3.5%	6.4%	-2.9%
5Y	1.0%	4.0%	-3.0%
10Y	1.9%	2.8%	-0.9%

Shows how efficient SFL Corporation Ltd 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 SFL Corporation Ltd to the Marine Shipping 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 Marine Shipping 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 SFL Corporation Ltd is 3.0%. This means SFL Corporation Ltd 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 Marine Shipping industry is 4.2%.
What is the trend?
The trend is important because it shows you how SFL Corporation Ltd is performing over time. The most recent quarter might be important if SFL Corporation Ltd 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 SFL Corporation Ltd up to 10 years back (depending if SFL Corporation Ltd 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 SFL Corporation Ltd

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) SFL Corporation Ltd = 31,368
Shareholders equity (balance sheet) MRQ SFL Corporation Ltd = 1,039,397
31,368 / 1,039,397 = 0.03 or 3.0%

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 SFL Corporation Ltd.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient SFL Corporation Ltd is operating .

Measures how much profit SFL Corporation Ltd 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 SFL Corporation Ltd to the Marine Shipping industry mean.
An Operating Margin of 34.8% means the company generated $0.35 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of SFL Corporation Ltd:

The MRQ is 34.8%. The company is operating very efficient. +2
The TTM is 32.2%. The company is operating very efficient. +2

Trends

Current period		Compared to		+/-
MRQ	34.8%	TTM	32.2%	+2.7%
TTM	32.2%	YOY	33.6%	-1.4%
TTM	32.2%	5Y	36.9%	-4.7%
5Y	36.9%	10Y	45.7%	-8.8%

Compared to industry (Marine Shipping)

Period	Company	Industry (mean)	+/-
MRQ	34.8%	20.1%	+14.7%
TTM	32.2%	11.9%	+20.3%
YOY	33.6%	18.7%	+14.9%
5Y	36.9%	14.3%	+22.6%
10Y	45.7%	11.1%	+34.6%

Measures how efficient SFL Corporation Ltd 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 SFL Corporation Ltd to the Marine Shipping 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 SFL Corporation Ltd 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 SFL Corporation Ltd is 34.8%. This means that SFL Corporation Ltd earned $0.35 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Marine Shipping industry is 20.1%.
What is the trend?
The trend is important because it shows you how SFL Corporation Ltd is performing over time. The most recent quarter might be important if SFL Corporation Ltd 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 SFL Corporation Ltd 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 SFL Corporation Ltd

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ SFL Corporation Ltd = 73,009
Total revenue MRQ SFL Corporation Ltd = 209,573
$73,009 / $209,573 = 0.35 or 34.8%

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 SFL Corporation Ltd is keeping operating costs low.

Below 1 is considered healthy (always compare to Marine Shipping industry mean).
An Operation Ratio of 0.65 means that the operating costs are $0.65 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of SFL Corporation Ltd:

The MRQ is 0.652. The company is efficient in keeping operating costs low. +1
The TTM is 0.699. The company is efficient in keeping operating costs low. +1

Trends

Current period		Compared to		+/-
MRQ	0.652	TTM	0.699	-0.047
TTM	0.699	YOY	0.608	+0.090
TTM	0.699	5Y	0.613	+0.086
5Y	0.613	10Y	0.594	+0.019

Compared to industry (Marine Shipping)

Period	Company	Industry (mean)	+/-
MRQ	0.652	1.397	-0.745
TTM	0.699	1.350	-0.651
YOY	0.608	1.297	-0.689
5Y	0.613	1.354	-0.741
10Y	0.594	1.247	-0.653

Measures how efficient SFL Corporation Ltd 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 SFL Corporation Ltd to the Marine Shipping 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 SFL Corporation Ltd is 65.2%. This means that SFL Corporation Ltd earned $0.65 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 Marine Shipping industry is 1.40.
What is the trend?
The trend is important because it shows you how SFL Corporation Ltd is performing over time. The most recent quarter might be important if SFL Corporation Ltd 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 SFL Corporation Ltd 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 SFL Corporation Ltd

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
(132,771 +3,793) \ 209,573 = 0.65

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 SFL Corporation Ltd.

1.3. Liquidity

1.3.1. Current Ratio

Measures if SFL Corporation Ltd is able to pay off Short-term Debt.

Above 1.5 is considered healthy (always compare to Marine Shipping industry mean).
A Current Ratio of 0.30 means the company has $0.30 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of SFL Corporation Ltd:

The MRQ is 0.303. The company is unable to pay all its short-term debts. -2
The TTM is 0.387. The company is unable to pay all its short-term debts. -2

Trends

Current period		Compared to		+/-
MRQ	0.303	TTM	0.387	-0.084
TTM	0.387	YOY	0.398	-0.010
TTM	0.387	5Y	0.729	-0.341
5Y	0.729	10Y	0.928	-0.199

Compared to industry (Marine Shipping)

Period	Company	Industry (mean)	+/-
MRQ	0.303	1.412	-1.109
TTM	0.387	1.455	-1.068
YOY	0.398	1.405	-1.007
5Y	0.729	1.346	-0.617
10Y	0.928	1.298	-0.370

Measures if SFL Corporation Ltd 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 Marine Shipping 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 SFL Corporation Ltd 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 SFL Corporation Ltd is 0.30. This means SFL Corporation Ltd has $0.30 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Marine Shipping industry is 1.41.
What is the trend?
The trend is important because it shows you how SFL Corporation Ltd is performing over time. The most recent quarter might be important if SFL Corporation Ltd 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 SFL Corporation Ltd 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 SFL Corporation Ltd

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
294,121 \ 969,195) = 0.30

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

Above 1 is considered healthy but always compare SFL Corporation Ltd to the Marine Shipping industry mean.
A Quick Ratio of 0.30 means the company can pay off $0.30 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of SFL Corporation Ltd:

The MRQ is 0.300. The company is just not able to pay all its short-term debts with the most liquid assets. -1
The TTM is 0.326. The company is just not able to pay all its short-term debts with the most liquid assets. -1

Trends

Current period		Compared to		+/-
MRQ	0.300	TTM	0.326	-0.026
TTM	0.326	YOY	0.376	-0.050
TTM	0.326	5Y	0.803	-0.477
5Y	0.803	10Y	1.125	-0.322

Compared to industry (Marine Shipping)

Period	Company	Industry (mean)	+/-
MRQ	0.300	0.582	-0.282
TTM	0.326	0.728	-0.402
YOY	0.376	0.836	-0.460
5Y	0.803	0.832	-0.029
10Y	1.125	0.918	+0.207

Measures if SFL Corporation Ltd 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 SFL Corporation Ltd to the Marine Shipping 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 SFL Corporation Ltd can pay off its short term debts. This shows if SFL Corporation Ltd 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 SFL Corporation Ltd is 0.30. This means that SFL Corporation Ltd can pay off $0.30 for each $1 in debt (using most liquid assets).
How does it compare to the industry?
The mean MRQ Quick Ratio of the Marine Shipping industry is 0.58.
What is the trend?
The trend is important because it shows you how SFL Corporation Ltd is performing over time. The most recent quarter might be important if SFL Corporation Ltd 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 SFL Corporation Ltd 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 SFL Corporation Ltd

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 SFL Corporation Ltd: (191,236 + 25,744 +73,989) / 969,195 = 0.30

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 SFL Corporation Ltd.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of SFL Corporation Ltd assets are financed with debt.

Below 1 (100%) is considered healthy but always compare SFL Corporation Ltd to Marine Shipping industry mean.
A Debt to Asset Ratio of 0.72 means that SFL Corporation Ltd assets are financed with 72.1% credit (debt) and the remaining percentage (100% - 72.1%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of SFL Corporation Ltd:

The MRQ is 0.721. The company is able to pay all its debts by selling its assets. +1
The TTM is 0.720. The company is able to pay all its debts by selling its assets. +1

Trends

Current period		Compared to		+/-
MRQ	0.721	TTM	0.720	+0.002
TTM	0.720	YOY	0.714	+0.006
TTM	0.720	5Y	0.722	-0.002
5Y	0.722	10Y	0.670	+0.052

Compared to industry (Marine Shipping)

Period	Company	Industry (mean)	+/-
MRQ	0.721	0.415	+0.306
TTM	0.720	0.433	+0.287
YOY	0.714	0.442	+0.272
5Y	0.722	0.473	+0.249
10Y	0.670	0.488	+0.182

Measures how much % of SFL Corporation Ltd assets are financed with debt.

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

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare SFL Corporation Ltd to Marine Shipping 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 SFL Corporation Ltd is 0.72. This means means that SFL Corporation Ltd is financed with 72.1% 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 Marine Shipping industry is 141.2%.
What is the trend?
The trend is important because it shows you how SFL Corporation Ltd is performing over time. The most recent quarter might be important if SFL Corporation Ltd 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 SFL Corporation Ltd 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 SFL Corporation Ltd has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example SFL Corporation Ltd

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

Balance sheet
Debt to asset ratio = total debt \ total assets
2,691,992 \ 3,731,389 = 72.1% or 0.72.

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

1.4.2. Debt to Equity Ratio

Measures if SFL Corporation Ltd is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare SFL Corporation Ltd to the Marine Shipping industry mean.
A Debt to Equity ratio of 259.0% means that company has $2.59 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of SFL Corporation Ltd:

The MRQ is 2.590. The company is unable to pay all its debts with equity. -1
The TTM is 2.567. The company is unable to pay all its debts with equity. -1

Trends

Current period		Compared to		+/-
MRQ	2.590	TTM	2.567	+0.023
TTM	2.567	YOY	2.492	+0.075
TTM	2.567	5Y	2.605	-0.038
5Y	2.605	10Y	2.121	+0.484

Compared to industry (Marine Shipping)

Period	Company	Industry (mean)	+/-
MRQ	2.590	0.757	+1.833
TTM	2.567	0.810	+1.757
YOY	2.492	0.853	+1.639
5Y	2.605	1.042	+1.563
10Y	2.121	1.166	+0.955

Measures if SFL Corporation Ltd 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 SFL Corporation Ltd 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 SFL Corporation Ltd is 2.59. This means that SFL Corporation Ltd can pay off $2.59 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Marine Shipping industry is 0.76.
What is the trend?
The trend is important because it shows you how SFL Corporation Ltd is performing over time. The most recent quarter might be important if SFL Corporation Ltd 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 SFL Corporation Ltd 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 SFL Corporation Ltd

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
2,691,992 \ 1,039,397 = 2.59 or 259.0%

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

Common shares.
Preferred shares.
Retained earnings.

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

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

2. Market Valuation of SFL Corporation Ltd

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 SFL Corporation Ltd generates.

Above 15 is considered overpriced but always compare SFL Corporation Ltd to the Marine Shipping industry mean.
A PE ratio of 12.36 means the investor is paying $12.36 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of SFL Corporation Ltd:

The EOD is 13.809. Based on the earnings, the company is underpriced. +1
The MRQ is 12.362. Based on the earnings, the company is underpriced. +1
The TTM is 23.991. Based on the earnings, the company is fair priced.

Trends

Current period		Compared to		+/-
EOD	13.809	MRQ	12.362	+1.447
MRQ	12.362	TTM	23.991	-11.628
TTM	23.991	YOY	6.486	+17.504
TTM	23.991	5Y	18.479	+5.511
5Y	18.479	10Y	20.211	-1.731

Compared to industry (Marine Shipping)

Period	Company	Industry (mean)	+/-
EOD	13.809	9.133	+4.676
MRQ	12.362	8.539	+3.823
TTM	23.991	8.216	+15.775
YOY	6.486	4.507	+1.979
5Y	18.479	9.132	+9.347
10Y	20.211	12.211	+8.000

Measures how much money you pay for each share for every $1 in earnings SFL Corporation Ltd 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 SFL Corporation Ltd to the Marine Shipping 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 SFL Corporation Ltd is 12.36. This means the investor is paying $12.36 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Marine Shipping industry is 8.54.
What is the trend?
The trend is important because it shows you how SFL Corporation Ltd is performing over time. The most recent quarter might be important if SFL Corporation Ltd 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 SFL Corporation Ltd 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 SFL Corporation Ltd

You need the following data to determine the PE ratio:

Balance sheet
Income statement

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

EPS = (net profit - preferred dividends) \ end of period outstanding shares*
Net profit = revenue - expenses
0 \ 125,701 = EPS
PE ratio MRQ = 12.36

* 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 SFL Corporation Ltd:

The EOD is 25.040. Based on how much money comes from the company's main activities, the company is underpriced. +1
The MRQ is 22.416. Based on how much money comes from the company's main activities, the company is underpriced. +1
The TTM is 6.321. Based on how much money comes from the company's main activities, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	25.040	MRQ	22.416	+2.623
MRQ	22.416	TTM	6.321	+16.095
TTM	6.321	YOY	-1.223	+7.544
TTM	6.321	5Y	3.302	+3.019
5Y	3.302	10Y	-7.485	+10.786

Compared to industry (Marine Shipping)

Period	Company	Industry (mean)	+/-
EOD	25.040	3.563	+21.477
MRQ	22.416	3.236	+19.180
TTM	6.321	3.385	+2.936
YOY	-1.223	3.082	-4.305
5Y	3.302	2.327	+0.975
10Y	-7.485	1.596	-9.081

2. Book Value per Share

2.3. Price to Book Ratio

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

At or below 1 is considered healthy (always compare to Marine Shipping industry mean).
A PB ratio of 1.49 means the investor is paying $1.49 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of SFL Corporation Ltd:

The EOD is 1.667. Based on the equity, the company is underpriced. +1
The MRQ is 1.492. Based on the equity, the company is underpriced. +1
The TTM is 1.351. Based on the equity, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	1.667	MRQ	1.492	+0.175
MRQ	1.492	TTM	1.351	+0.141
TTM	1.351	YOY	1.240	+0.112
TTM	1.351	5Y	1.336	+0.016
5Y	1.336	10Y	1.551	-0.215

Compared to industry (Marine Shipping)

Period	Company	Industry (mean)	+/-
EOD	1.667	0.911	+0.756
MRQ	1.492	0.908	+0.584
TTM	1.351	0.898	+0.453
YOY	1.240	0.985	+0.255
5Y	1.336	0.956	+0.380
10Y	1.551	0.994	+0.557

2. Total Gains per Share

3. Holders & Insider Transactions

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

3.1. Institutions holding SFL Corporation Ltd

Institutions are holding 29.607% of the shares of SFL Corporation Ltd.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	Dimensional Fund Advisors, Inc.	6.4042	0.029	8803647	226432	2.6399
2023-12-31	BlackRock Inc	4.2876	0.0017	5894081	-228535	-3.7326
2023-12-31	State Street Corporation	1.4573	0.0011	2003361	73045	3.7841
2023-12-31	American Century Companies Inc	1.3204	0.0141	1815063	258964	16.6419
2023-12-31	Mirae Asset Global Investments (Korea) Co Ltd	1.0459	0.033	1437802	564675	64.6727
2023-12-31	Bridgeway Capital Management, LLC	1.0055	0.3344	1382207	51645	3.8814
2023-12-31	Bank of New York Mellon Corp	1.0034	0.0032	1379383	-462080	-25.0931
2023-12-31	Arrowstreet Capital Limited Partnership	0.9606	0.0156	1320521	-609713	-31.5875
2023-12-31	Renaissance Technologies Corp	0.9239	0.0222	1270097	265100	26.3782
2023-12-31	Geode Capital Management, LLC	0.9235	0.0015	1269461	56519	4.6597
2023-12-31	Vanguard Group Inc	0.9157	0.0003	1258721	71942	6.062
2023-12-31	Morgan Stanley - Brokerage Accounts	0.8584	0.0012	1180021	209610	21.6001
2023-12-31	Charles Schwab Investment Management Inc	0.767	0.003	1054347	-7319	-0.6894
2023-12-31	Northern Trust Corp	0.5895	0.0017	810351	17551	2.2138
2023-12-31	Empowered Funds, LLC	0.4155	0.1618	571207	51645	9.9401
2023-12-31	Amvescap Plc.	0.3304	0.0012	454201	47142	11.5811
2023-12-31	Millennium Management LLC	0.3065	0.0021	421270	273807	185.6784
2023-12-31	ING Investment Management LLC	0.2814	0.0052	386843	-70093	-15.3398
2023-12-31	Connor Clark & Lunn Inv Mgmt Ltd	0.2577	0.0186	354273	-143976	-28.8964
2023-12-31	Advisors Capital Management, LLC	0.2566	0.081	352723	-9390	-2.5931
Total		24.311	0.7319	33419580	+636971	+1.9%

3.2. Funds holding SFL Corporation Ltd

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2024-02-29	iShares Russell 2000 ETF	2.1459	0.0632	2949957	-482	-0.0163
2024-01-31	DFA US Small Cap Value I	1.5456	0.1708	2124732	0	0
2024-02-29	Avantis US Small Cap Value ETF	1.3749	0.2552	1890049	828	0.0438
2023-12-31	Fidelity Small Cap Index	0.8301	0.0507	1141106	14324	1.2712
2024-01-31	DFA US Targeted Value I	0.8264	0.1072	1136088	0	0
2024-02-29	Dimensional US Targeted Value ETF	0.8108	0.1562	1114635	659	0.0592
2024-02-01	iShares Russell 2000 Value ETF	0.8032	0.1134	1104104	0	0
2024-01-31	DFA US Micro Cap I	0.6471	0.1591	889603	0	0
2023-12-31	Bridgeway Omni Small-Cap Value	0.59	0.7124	811000	0	0
2023-12-31	Bridgeway Omni Small-Cap Value N	0.59	0.7139	811000	0	0
2024-02-29	Global X SuperDividend™ US ETF	0.5826	1.81	800917	109615	15.8563
2024-02-29	Global X SuperDividend™ ETF	0.5714	1.4257	785519	0	0
2024-02-29	State St Russell Sm/Mid Cp® Indx NL Cl C	0.5108	0.0225	702242	0	0
2024-02-29	Schwab Fundamental US Small Company ETF	0.4714	0.1104	648024	225	0.0347
2024-02-29	EA Bridgeway Omni Small-Cap Value ETF	0.4387	0.6974	603089	1335	0.2219
2024-01-31	DFA US Small Cap I	0.399	0.0453	548506	0	0
2024-02-29	Vanguard High Dividend Yield ETF	0.3678	0.0104	505580	-1058	-0.2088
2024-02-29	JPM Global Income A (div) EUR	0.3538	0.035	486325	1403	0.2893
2024-02-29	State St Russell Sm Cap® Indx SL Cl I	0.3055	0.0594	419936	0	0
2024-02-29	Vanguard Russell 2000 ETF	0.3043	0.0586	418281	32752	8.4953
Total		14.4693	6.7768	19890693	+159601	+0.8%

3.3. Insider Transactions

Insiders are holding 24.63% of the shares of SFL Corporation Ltd.

Date	Owner	Type	Amount	Price	Post Transaction Amount	Link
2019-11-04	Cullen Keith	BUY	600000	0.05

4. Summary

4.1. Key Performance Indicators

The key performance indicators of SFL Corporation Ltd compared to the Most Recent Quarter (MRQ).

	End of day	+/-	Most Recent Quarter	Trailing 12 Months	+/-	Year-Over-Year	+/-	5 Year	+/-	10 Year	+/-
Book Value Change Per Share	-	-	-0.025	-0.094	+279%	0.198	-113%	-0.051	+106%	-0.028	+12%
Book Value Per Share	-	-	7.559	7.639	-1%	7.678	-2%	7.338	+3%	7.943	-5%
Current Ratio	-	-	0.303	0.387	-22%	0.398	-24%	0.729	-58%	0.928	-67%
Debt To Asset Ratio	-	-	0.721	0.720	+0%	0.714	+1%	0.722	0%	0.670	+8%
Debt To Equity Ratio	-	-	2.590	2.567	+1%	2.492	+4%	2.605	-1%	2.121	+22%
Dividend Per Share	-	-	0.231	0.224	+3%	0.203	+14%	0.208	+11%	0.247	-7%
Eps	-	-	0.228	0.153	+49%	0.369	-38%	0.115	+99%	0.175	+31%
Free Cash Flow Per Share	-	-	0.126	0.143	-12%	-0.450	+457%	-0.037	+129%	-0.243	+293%
Free Cash Flow To Equity Per Share	-	-	0.321	-0.333	+204%	-0.125	+139%	-0.247	+177%	-0.325	+201%
Gross Profit Margin	-	-	1.000	1.000	0%	1.000	0%	1.000	0%	1.000	0%
Intrinsic Value_10Y_max	-	-	-5.244	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	-28.313	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	-0.909	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	-1.410	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	-2.439	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	-5.498	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	-3.616	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	-10.936	-	-	-	-	-	-	-	-
Market Cap	1732638700.800	+10%	1551124170.240	1418426047.520	+9%	1306354576.000	+19%	1357371159.968	+14%	1715965491.080	-10%
Net Profit Margin	-	-	0.150	0.108	+39%	0.230	-35%	0.072	+108%	0.202	-26%
Operating Margin	-	-	0.348	0.322	+8%	0.336	+4%	0.369	-5%	0.457	-24%
Operating Ratio	-	-	0.652	0.699	-7%	0.608	+7%	0.613	+6%	0.594	+10%
Pb Ratio	1.667	+10%	1.492	1.351	+10%	1.240	+20%	1.336	+12%	1.551	-4%
Pe Ratio	13.809	+10%	12.362	23.991	-48%	6.486	+91%	18.479	-33%	20.211	-39%
Price Per Share	12.600	+10%	11.280	10.315	+9%	9.500	+19%	9.871	+14%	12.479	-10%
Price To Free Cash Flow Ratio	25.040	+10%	22.416	6.321	+255%	-1.223	+105%	3.302	+579%	-7.485	+133%
Price To Total Gains Ratio	61.261	+10%	54.843	97.472	-44%	23.798	+130%	-43.681	+180%	8.675	+532%
Quick Ratio	-	-	0.300	0.326	-8%	0.376	-20%	0.803	-63%	1.125	-73%
Return On Assets	-	-	0.008	0.006	+49%	0.010	-17%	0.003	+152%	0.007	+21%
Return On Equity	-	-	0.030	0.020	+50%	0.035	-15%	0.010	+192%	0.019	+61%
Total Gains Per Share	-	-	0.206	0.129	+59%	0.401	-49%	0.157	+31%	0.219	-6%
Usd Book Value	-	-	1039397000.000	1050482000.000	-1%	1055840250.000	-2%	1009122350.000	+3%	1092188975.000	-5%
Usd Book Value Change Per Share	-	-	-0.025	-0.094	+279%	0.198	-113%	-0.051	+106%	-0.028	+12%
Usd Book Value Per Share	-	-	7.559	7.639	-1%	7.678	-2%	7.338	+3%	7.943	-5%
Usd Dividend Per Share	-	-	0.231	0.224	+3%	0.203	+14%	0.208	+11%	0.247	-7%
Usd Eps	-	-	0.228	0.153	+49%	0.369	-38%	0.115	+99%	0.175	+31%
Usd Free Cash Flow	-	-	17299000.000	19667750.000	-12%	-61843500.000	+457%	-5044150.000	+129%	-33426150.000	+293%
Usd Free Cash Flow Per Share	-	-	0.126	0.143	-12%	-0.450	+457%	-0.037	+129%	-0.243	+293%
Usd Free Cash Flow To Equity Per Share	-	-	0.321	-0.333	+204%	-0.125	+139%	-0.247	+177%	-0.325	+201%
Usd Market Cap	1732638700.800	+10%	1551124170.240	1418426047.520	+9%	1306354576.000	+19%	1357371159.968	+14%	1715965491.080	-10%
Usd Price Per Share	12.600	+10%	11.280	10.315	+9%	9.500	+19%	9.871	+14%	12.479	-10%
Usd Profit	-	-	31368000.000	20984250.000	+49%	37240000.000	-16%	13099600.000	+139%	22566100.000	+39%
Usd Revenue	-	-	209573000.000	188071500.000	+11%	167598250.000	+25%	143298550.000	+46%	120215325.000	+74%
Usd Total Gains Per Share	-	-	0.206	0.129	+59%	0.401	-49%	0.157	+31%	0.219	-6%
	EOD	+4 -4	MRQ	TTM	+21 -14	YOY	+13 -22	5Y	+28 -7	10Y	+17 -18

4.2. Fundamental Score

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

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	13.809
Price to Book Ratio (EOD)	Between	0-1	1.667
Net Profit Margin (MRQ)	Greater than	0	0.150
Operating Margin (MRQ)	Greater than	0	0.348
Quick Ratio (MRQ)	Greater than	1	0.300
Current Ratio (MRQ)	Greater than	1	0.303
Debt to Asset Ratio (MRQ)	Less than	1	0.721
Debt to Equity Ratio (MRQ)	Less than	1	2.590
Return on Equity (MRQ)	Greater than	0.15	0.030
Return on Assets (MRQ)	Greater than	0.05	0.008
Total			4/10 (40.0%)

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.
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4.3. Technical Score

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

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	41.235
Ma 20	Greater than	Ma 50	12.986
Ma 50	Greater than	Ma 100	12.825
Ma 100	Greater than	Ma 200	12.068
Open	Greater than	Close	12.670
Total			4/5 (80.0%)

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

Latest Balance Sheet

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

Summary

Total Assets	3,731,389
Total Liabilities	2,691,992
Total Stockholder Equity	1,039,397

	As reported
Total Liabilities	2,691,992
Total Stockholder Equity	+ 1,039,397
Total Assets	= 3,731,389

Assets

Total Assets	3,731,389
Total Current Assets	294,121
Long-term Assets	3,437,268

Total Current Assets

Total Current Assets (as reported)	294,121
Cash And Cash Equivalents	165,492
Short-term Investments	25,744
Net Receivables	73,989
Inventory	11,728
Other Current Assets	17,168
Total Current Assets (calculated)	294,121
+/-	0

Long-term Assets

Long-term Assets (as reported)	3,437,268
Property Plant Equipment	3,230,381
Long Term Investments	16,473
Long-term Assets Other	96,707
Long-term Assets (calculated)	3,343,561
+/-	93,707

Liabilities & Shareholders' Equity

Total Current Liabilities	969,195
Long-term Liabilities	1,722,797
Total Stockholder Equity	1,039,397

Total Current Liabilities

Total Current Liabilities (as reported)	969,195
Short-term Debt	852,259
Short Long Term Debt	432,918
Accounts payable	30,259
Other Current Liabilities	54,716
Total Current Liabilities (calculated)	1,370,152
+/-	400,957

Long-term Liabilities

Long-term Liabilities (as reported)	1,722,797
Long term Debt	1,713,828
Capital Lease Obligations	419,341
Long-term Liabilities Other	4
Long-term Liabilities (calculated)	2,133,173
+/-	410,376

Total Stockholder Equity

Total Stockholder Equity (as reported)	1,039,397
Common Stock	1,386
Retained Earnings	960
Accumulated Other Comprehensive Income	4,499
Other Stockholders Equity	1,032,552
Total Stockholder Equity (calculated)	1,039,397
+/-	0

Other

Capital Stock	1,386
Cash and Short Term Investments	191,236
Common Stock Shares Outstanding	125,701
Current Deferred Revenue	31,961
Liabilities and Stockholders Equity	3,731,389
Net Debt	2,400,595
Net Invested Capital	3,186,143
Net Working Capital	-671,136
Property Plant and Equipment Gross	4,232,132
Short Long Term Debt Total	2,566,087

Balance Sheet

Currency in USD. All numbers in thousands.

Trend

2023-12-31

2023-09-30

2023-06-30

2023-03-31

2022-12-31

2022-09-30

2022-06-30

2022-03-31

2021-12-31

2021-09-30

2021-06-30

2021-03-31

2020-12-31

2020-09-30

2020-06-30

2020-03-31

2019-12-31

2019-09-30

2019-06-30

2019-03-31

2018-12-31

2018-09-30

2018-06-30

2018-03-31

2017-12-31

2017-09-30

2017-06-30

2017-03-31

2016-12-31

2016-09-30

2016-06-30

2016-03-31

2015-12-31

2015-09-30

2015-06-30

2015-03-31

2014-12-31

2014-09-30

2014-06-30

2014-03-31

2013-12-31

2013-09-30

2013-06-30

2013-03-31

2012-12-31

2012-09-30

2012-06-30

2012-03-31

2011-12-31

2011-09-30

2011-06-30

2011-03-31

2010-12-31

2010-09-30

2010-06-30

2010-03-31

2009-12-31

2009-09-30

2009-06-30

2009-03-31

2008-12-31

2008-09-30

2008-06-30

2008-03-31

2007-12-31

2007-09-30

2007-06-30

2007-03-31

2006-12-31

2006-09-30

2006-06-30

2006-03-31

2005-12-31

2005-09-30

2005-06-30

2005-03-31

2004-12-31

2004-09-30

2004-06-30

2004-03-31

2003-12-31

2003-09-30

2003-03-31

2002-12-31

> Total Assets

2,123,607
0
2,156,348
2,156,348
2,291,318
2,145,006
2,131,887
2,152,937
2,152,937
2,412,119
2,417,258
2,393,913
2,393,913
2,334,391
2,349,915
2,553,677
2,625,921
2,553,677
2,938,521
2,950,028
2,998,910
3,018,959
3,201,478
3,348,486
3,282,765
3,195,462
3,023,655
3,001,428
3,001,428
2,885,990
2,858,854
2,882,361
3,004,057
2,985,853
3,003,556
2,896,128
2,896,128
2,944,090
2,902,003
2,973,089
2,973,089
3,081,250
3,078,552
3,045,983
2,986,604
3,012,786
3,069,434
3,041,554
3,041,554
2,783,005
3,110,562
3,064,825
3,064,825
2,904,455
2,824,223
2,937,377
2,937,377
3,138,913
3,156,851
3,012,082
2,929,060
3,464,048
3,590,185
3,877,845
3,782,759
3,806,885
3,800,366
3,885,370
3,782,495
3,711,112
3,576,837
3,093,211
3,060,575
3,193,902
3,526,276
3,459,297
3,606,459
3,589,799
3,691,292
3,861,330
3,779,809
3,806,136
3,671,608
3,731,389

3,731,389

3,671,608

3,806,136

3,779,809

3,861,330

3,691,292

3,589,799

3,606,459

3,459,297

3,526,276

3,193,902

3,060,575

3,093,211

3,576,837

3,711,112

3,782,495

3,885,370

3,800,366

3,806,885

3,782,759

3,877,845

3,590,185

3,464,048

2,929,060

3,012,082

3,156,851

3,138,913

2,937,377

2,824,223

2,904,455

3,064,825

3,110,562

2,783,005

3,041,554

3,069,434

3,012,786

2,986,604

3,045,983

3,078,552

3,081,250

2,973,089

2,902,003

2,944,090

2,896,128

3,003,556

2,985,853

3,004,057

2,882,361

2,858,854

2,885,990

3,001,428

3,023,655

3,195,462

3,282,765

3,348,486

3,201,478

3,018,959

2,998,910

2,950,028

2,938,521

2,553,677

2,625,921

2,553,677

2,349,915

2,334,391

2,393,913

2,417,258

2,412,119

2,152,937

2,131,887

2,145,006

2,291,318

2,156,348

2,123,607

> Total Current Assets

0
0
0
0
0
171,652
192,450
231,857
231,857
163,590
224,354
222,940
222,940
188,617
225,322
307,153
320,065
307,153
282,195
333,595
355,319
384,191
433,754
331,542
290,109
251,207
278,967
265,257
265,257
227,902
220,603
235,301
210,297
214,469
214,370
192,763
192,763
244,465
221,360
242,632
242,632
179,250
202,328
292,204
183,022
230,640
200,565
340,225
340,225
235,674
238,536
375,917
375,917
274,623
245,733
278,427
278,427
447,613
430,063
317,695
292,931
406,735
417,118
413,579
359,800
425,836
358,304
390,487
390,742
319,062
369,033
356,436
334,102
496,757
374,780
250,316
260,144
330,968
291,312
296,982
297,746
321,045
229,022
294,121

294,121

229,022

321,045

297,746

296,982

291,312

330,968

260,144

250,316

374,780

496,757

334,102

356,436

369,033

319,062

390,742

390,487

358,304

425,836

359,800

413,579

417,118

406,735

292,931

317,695

430,063

447,613

278,427

245,733

274,623

375,917

238,536

235,674

340,225

200,565

230,640

183,022

292,204

202,328

179,250

242,632

221,360

244,465

192,763

214,370

214,469

210,297

235,301

220,603

227,902

265,257

278,967

251,207

290,109

331,542

433,754

384,191

355,319

333,595

282,195

307,153

320,065

307,153

225,322

188,617

222,940

224,354

163,590

231,857

192,450

171,652

Cash And Cash Equivalents

20,634
0
26,519
26,519
138,777
32,138
69,171
29,193
29,193
52,560
71,808
32,857
32,857
44,194
31,621
64,569
146,435
64,569
45,426
78,255
100,734
86,422
118,657
46,075
50,070
61,367
92,854
84,186
84,186
54,585
66,812
86,967
90,109
88,501
81,236
94,915
94,915
100,788
66,818
60,542
60,542
41,023
59,031
58,641
36,982
49,480
32,623
50,818
50,818
61,571
60,283
70,175
70,175
82,016
63,420
62,382
62,382
248,999
245,782
153,052
139,991
144,787
143,989
211,394
154,077
212,400
138,332
199,521
206,474
152,124
205,814
215,445
216,005
371,852
250,703
145,622
149,289
223,816
178,682
188,362
185,193
201,466
118,028
165,492

165,492

118,028

201,466

185,193

188,362

178,682

223,816

149,289

145,622

250,703

371,852

216,005

215,445

205,814

152,124

206,474

199,521

138,332

212,400

154,077

211,394

143,989

144,787

139,991

153,052

245,782

248,999

62,382

63,420

82,016

70,175

60,283

61,571

50,818

32,623

49,480

36,982

58,641

59,031

41,023

60,542

66,818

100,788

94,915

81,236

88,501

90,109

86,967

66,812

54,585

84,186

92,854

61,367

50,070

46,075

118,657

86,422

100,734

78,255

45,426

64,569

146,435

64,569

31,621

44,194

32,857

71,808

52,560

29,193

69,171

32,138

138,777

26,519

20,634

Short-term Investments

0
0
0
565,500
0
7,886
0
5,379
3,661
2,715
0
1,575
11,083
10,847
10,924
12,937
13,482
11,707
22,670
26,983
35,551
34,927
36,340
174,448
54,334
813
4,914
139,889
139,889
4,101
5,601
103,976
5,601
16,833
22,904
83,484
83,484
39,664
58,753
55,661
55,661
118,947
117,946
76,925
105,785
61,889
106,857
73,656
73,656
86,581
78,236
199,594
199,594
151,609
146,093
118,489
118,489
143,885
147,862
93,802
124,932
153,712
160,054
87,174
138,866
159,365
126,772
74,079
60,231
98,128
97,297
28,805
62,162
64,313
47,975
21,210
47,408
36,278
24,820
7,283
22,449
32,371
27,645
25,744

25,744

27,645

32,371

22,449

7,283

24,820

36,278

47,408

21,210

47,975

64,313

62,162

28,805

97,297

98,128

60,231

74,079

126,772

159,365

138,866

87,174

160,054

153,712

124,932

93,802

147,862

143,885

118,489

146,093

151,609

199,594

78,236

86,581

73,656

106,857

61,889

105,785

76,925

117,946

118,947

55,661

58,753

39,664

83,484

22,904

16,833

5,601

103,976

5,601

4,101

139,889

4,914

813

54,334

174,448

36,340

34,927

35,551

26,983

22,670

11,707

13,482

12,937

10,924

10,847

11,083

1,575

2,715

3,661

5,379

7,886

565,500

Net Receivables

0
0
0
0
0
4,651
0
5,361
5,361
0
0
81,207
81,207
0
0
67,421
13,544
67,421
0
42,158
29,224
60,736
91,138
47,026
14,754
21,758
24,773
36,810
36,810
34,690
28,329
37,946
4,122
4,097
3,532
12,591
12,591
30,451
50,522
54,203
54,203
14,846
16,229
13,249
29,363
30,204
49,519
152,491
152,491
76,877
90,309
45,659
45,659
33,037
28,131
17,519
17,519
35,924
27,888
9,625
19,368
22,319
25,071
41,771
56,099
44,728
64,793
78,588
71,734
41,210
45,157
63,138
3,637
29,272
32,260
32,041
8,615
41,840
55,412
19,824
2,819
3,589
3,986
73,989

73,989

3,986

3,589

2,819

19,824

55,412

41,840

8,615

32,041

32,260

29,272

3,637

63,138

45,157

41,210

71,734

78,588

64,793

44,728

56,099

41,771

25,071

22,319

19,368

9,625

27,888

35,924

17,519

28,131

33,037

45,659

90,309

76,877

152,491

49,519

30,204

29,363

13,249

16,229

14,846

54,203

50,522

30,451

12,591

3,532

4,097

4,122

37,946

28,329

34,690

36,810

24,773

21,758

14,754

47,026

91,138

60,736

29,224

42,158

67,421

13,544

67,421

81,207

5,361

4,651

Other Current Assets

0
0
0
0
78,058
120,665
123,279
76,998
76,998
111,030
152,546
107,010
107,010
144,423
182,777
161,715
146,604
161,715
214,099
185,631
189,810
202,106
187,619
63,741
170,951
167,269
156,426
177
4,278
134,526
119,861
5,928
110,465
105,038
106,698
545
545
73,562
41,625
72,226
72,226
1,171
2,972
143,389
3,002
89,067
4,769
63,260
63,260
4,525
4,421
60,489
60,489
2,911
2,791
80,037
80,037
13,771
2,725
61,216
2,595
79,128
76
72,240
2,865
2,255
28,407
34,804
40,836
18,320
41,566
40,095
44,289
49,884
63,613
43,105
47,936
58,576
81,597
81,513
87,285
83,619
79,363
17,168

17,168

79,363

83,619

87,285

81,513

81,597

58,576

47,936

43,105

63,613

49,884

44,289

40,095

41,566

18,320

40,836

34,804

28,407

2,255

2,865

72,240

79,128

2,595

61,216

2,725

13,771

80,037

2,791

2,911

60,489

4,421

4,525

63,260

4,769

89,067

3,002

143,389

2,972

1,171

72,226

41,625

73,562

545

106,698

105,038

110,465

5,928

119,861

134,526

4,278

177

156,426

167,269

170,951

63,741

187,619

202,106

189,810

185,631

214,099

161,715

146,604

161,715

182,777

144,423

107,010

152,546

111,030

76,998

123,279

120,665

78,058

> Long-term Assets

0
0
0
0
0
1,973,354
1,939,437
1,921,080
1,921,080
2,248,529
2,192,904
2,170,973
2,170,973
2,145,774
2,124,593
2,246,524
2,305,856
2,246,524
2,656,326
2,616,433
2,643,591
2,634,768
2,767,724
3,016,944
2,992,656
2,944,255
2,744,688
0
2,736,171
2,658,088
2,638,251
2,647,060
2,793,760
2,771,384
2,789,186
2,703,365
2,703,365
2,699,625
2,680,643
2,730,457
2,730,457
2,902,000
2,876,224
2,753,779
2,803,582
2,782,146
2,868,869
2,701,329
2,701,329
2,547,331
2,872,026
2,688,908
2,688,908
2,629,832
2,578,490
2,658,950
2,658,950
2,691,300
2,726,788
2,694,387
2,636,129
3,057,313
3,173,067
3,464,266
3,422,959
3,381,049
3,442,062
3,494,883
3,391,753
3,392,050
3,207,804
2,736,775
2,726,473
2,697,145
3,151,496
3,208,981
3,346,315
3,258,831
3,399,980
3,564,348
3,482,063
3,485,091
3,442,586
3,437,268

3,437,268

3,442,586

3,485,091

3,482,063

3,564,348

3,399,980

3,258,831

3,346,315

3,208,981

3,151,496

2,697,145

2,726,473

2,736,775

3,207,804

3,392,050

3,391,753

3,494,883

3,442,062

3,381,049

3,422,959

3,464,266

3,173,067

3,057,313

2,636,129

2,694,387

2,726,788

2,691,300

2,658,950

2,578,490

2,629,832

2,688,908

2,872,026

2,547,331

2,701,329

2,868,869

2,782,146

2,803,582

2,753,779

2,876,224

2,902,000

2,730,457

2,680,643

2,699,625

2,703,365

2,789,186

2,771,384

2,793,760

2,647,060

2,638,251

2,658,088

2,736,171

2,744,688

2,944,255

2,992,656

3,016,944

2,767,724

2,634,768

2,643,591

2,616,433

2,656,326

2,246,524

2,305,856

2,246,524

2,124,593

2,145,774

2,170,973

2,192,904

2,248,529

1,921,080

1,939,437

1,973,354

Property Plant Equipment

1,904,146
0
1,863,504
1,863,504
526,994
518,479
347,126
236,305
236,305
502,282
322,362
315,220
315,220
242,121
248,874
246,549
418,758
246,549
562,119
583,244
595,819
619,243
630,275
656,216
659,871
660,658
657,827
627,654
627,654
656,948
602,155
786,112
937,361
829,385
876,707
1,020,580
1,020,580
973,982
1,034,180
2,197,290
2,197,290
1,131,448
1,223,131
2,073,884
1,277,486
2,171,070
1,421,566
2,173,714
2,173,714
1,357,464
1,609,688
2,155,764
2,155,764
1,811,807
1,793,377
2,294,431
2,294,431
1,737,437
1,784,504
2,348,571
1,740,274
2,072,290
2,255,367
3,071,956
2,254,507
2,225,633
2,171,159
2,119,181
2,049,156
2,034,490
1,958,153
1,938,078
2,271,415
2,259,227
2,880,519
2,943,748
3,086,110
3,047,603
3,178,641
3,359,012
3,281,406
3,296,911
3,307,013
3,230,381

3,230,381

3,307,013

3,296,911

3,281,406

3,359,012

3,178,641

3,047,603

3,086,110

2,943,748

2,880,519

2,259,227

2,271,415

1,938,078

1,958,153

2,034,490

2,049,156

2,119,181

2,171,159

2,225,633

2,254,507

3,071,956

2,255,367

2,072,290

1,740,274

2,348,571

1,784,504

1,737,437

2,294,431

1,793,377

1,811,807

2,155,764

1,609,688

1,357,464

2,173,714

1,421,566

2,171,070

1,277,486

2,073,884

1,223,131

1,131,448

2,197,290

1,034,180

973,982

1,020,580

876,707

829,385

937,361

786,112

602,155

656,948

627,654

657,827

660,658

659,871

656,216

630,275

619,243

595,819

583,244

562,119

246,549

418,758

246,549

248,874

242,121

315,220

322,362

502,282

236,305

347,126

518,479

526,994

1,863,504

1,904,146

Long Term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
57,620
0
0
0
1,191,090
0
0
0
947,425
0
0
307
869,342
7,037
4,743
11,642
919,000
0
0
0
0
29,847
34,098
874,880
42,161
922,067
34,642
36,777
649,420
298,193
287,924
203,671
16,635
16,598
16,584
16,570
16,547
116,291
101,387
53,615
16,473

16,473

53,615

101,387

116,291

16,547

16,570

16,584

16,598

16,635

203,671

287,924

298,193

649,420

36,777

34,642

922,067

42,161

874,880

34,098

29,847

919,000

11,642

4,743

7,037

869,342

307

947,425

1,191,090

57,620

Long-term Assets Other

0
0
0
0
0
1,454,875
1,592,311
43,131
43,131
1,746,247
1,870,542
37,409
37,409
1,903,653
1,875,719
37,586
1,887,098
37,586
2,094,207
2,026,651
18,485
20,482
24,766
14,696
22,414
14,539
13,556
0
7,927
18,777
450,954
340,440
365,763
523,706
499,056
349,907
349,907
386,319
308,106
300,276
300,276
683,861
664,701
638,908
642,868
570,114
563,647
474,158
474,158
428,298
514,856
448,529
448,529
374,944
371,895
364,389
364,389
341,382
341,720
335,138
324,138
345,521
360,336
367,203
361,373
355,274
1,232,660
1,333,541
1,312,011
386,422
343,456
771,400
156,865
149,994
67,306
248,598
67,898
83,427
97,344
188,789
84,366
86,793
81,958
96,707

96,707

81,958

86,793

84,366

188,789

97,344

83,427

67,898

248,598

67,306

149,994

156,865

771,400

343,456

386,422

1,312,011

1,333,541

1,232,660

355,274

361,373

367,203

360,336

345,521

324,138

335,138

341,720

341,382

364,389

371,895

374,944

448,529

514,856

428,298

474,158

563,647

570,114

642,868

638,908

664,701

683,861

300,276

308,106

386,319

349,907

499,056

523,706

365,763

340,440

450,954

18,777

7,927

13,556

14,539

22,414

14,696

24,766

20,482

18,485

2,026,651

2,094,207

37,586

1,887,098

37,586

1,875,719

1,903,653

37,409

1,870,542

1,746,247

43,131

1,592,311

1,454,875

> Total Liabilities

1,638,002
0
1,334,322
1,334,322
1,677,576
1,580,560
1,522,943
1,491,955
1,491,955
1,894,019
1,875,523
1,832,391
1,832,391
1,773,794
1,778,369
1,953,147
1,996,669
1,953,147
2,328,907
2,335,551
2,395,192
2,346,307
2,525,715
2,831,136
2,719,985
2,523,335
2,347,558
2,252,100
2,252,100
2,092,450
2,068,263
2,053,441
2,154,888
2,127,968
2,164,368
2,039,037
2,039,037
2,036,629
1,992,623
1,978,321
1,978,321
1,872,009
1,889,402
1,854,050
1,793,052
1,836,764
1,886,670
1,888,062
1,888,062
1,583,575
1,925,511
1,823,015
1,823,015
1,769,160
1,692,705
1,803,282
1,803,282
2,040,731
2,054,772
1,817,085
1,735,197
2,222,224
2,358,476
2,697,813
2,614,112
2,652,258
2,684,521
2,779,001
2,848,586
2,777,058
2,649,237
2,297,560
2,244,221
2,292,582
2,605,821
2,476,970
2,592,249
2,543,245
2,619,926
2,770,099
2,711,117
2,755,110
2,628,795
2,691,992

2,691,992

2,628,795

2,755,110

2,711,117

2,770,099

2,619,926

2,543,245

2,592,249

2,476,970

2,605,821

2,292,582

2,244,221

2,297,560

2,649,237

2,777,058

2,848,586

2,779,001

2,684,521

2,652,258

2,614,112

2,697,813

2,358,476

2,222,224

1,735,197

1,817,085

2,054,772

2,040,731

1,803,282

1,692,705

1,769,160

1,823,015

1,925,511

1,583,575

1,888,062

1,886,670

1,836,764

1,793,052

1,854,050

1,889,402

1,872,009

1,978,321

1,992,623

2,036,629

2,039,037

2,164,368

2,127,968

2,154,888

2,053,441

2,068,263

2,092,450

2,252,100

2,347,558

2,523,335

2,719,985

2,831,136

2,525,715

2,346,307

2,395,192

2,335,551

2,328,907

1,953,147

1,996,669

1,953,147

1,778,369

1,773,794

1,832,391

1,875,523

1,894,019

1,491,955

1,522,943

1,580,560

1,677,576

1,334,322

1,638,002

> Total Current Liabilities

0
0
0
4,117
192,626
115,129
108,389
100,266
100,266
148,000
145,601
134,720
134,720
153,061
165,458
173,655
238,521
173,655
226,342
227,925
266,419
213,055
245,873
493,242
444,520
465,934
329,449
319,883
319,883
273,305
242,165
208,701
213,199
191,061
213,743
174,148
174,148
234,397
248,168
197,518
197,518
310,362
383,660
432,440
466,509
427,140
347,336
213,755
213,755
223,966
233,520
238,965
238,965
112,458
97,442
238,970
238,970
561,664
524,517
343,745
440,757
809,083
685,541
404,125
272,912
286,038
273,379
365,836
393,675
401,040
406,654
576,531
610,075
460,227
547,746
400,316
394,574
860,188
1,096,441
1,056,611
784,477
588,934
712,383
969,195

969,195

712,383

588,934

784,477

1,056,611

1,096,441

860,188

394,574

400,316

547,746

460,227

610,075

576,531

406,654

401,040

393,675

365,836

273,379

286,038

272,912

404,125

685,541

809,083

440,757

343,745

524,517

561,664

238,970

97,442

112,458

238,965

233,520

223,966

213,755

347,336

427,140

466,509

432,440

383,660

310,362

197,518

248,168

234,397

174,148

213,743

191,061

213,199

208,701

242,165

273,305

319,883

329,449

465,934

444,520

493,242

245,873

213,055

266,419

227,925

226,342

173,655

238,521

173,655

165,458

153,061

134,720

145,601

148,000

100,266

108,389

115,129

192,626

4,117

Short-term Debt

0
0
0
0
0
88,843
88,845
91,308
91,308
118,507
122,519
122,519
122,519
125,426
134,776
144,451
170,124
144,451
189,742
179,428
171,181
163,759
180,600
385,577
318,529
394,482
269,061
292,541
292,541
228,465
217,182
162,785
173,676
171,709
183,663
150,342
150,342
209,378
220,051
157,689
157,689
275,124
344,203
389,888
436,676
396,963
319,684
182,415
182,415
202,896
213,936
208,031
208,031
96,881
78,401
174,900
174,900
487,859
467,224
313,823
374,500
734,438
603,953
334,942
246,244
257,520
236,244
321,933
339,966
369,244
371,863
533,843
571,930
419,577
498,849
353,973
350,037
812,870
1,015,776
974,925
701,854
402,718
595,031
852,259

852,259

595,031

402,718

701,854

974,925

1,015,776

812,870

350,037

353,973

498,849

419,577

571,930

533,843

371,863

369,244

339,966

321,933

236,244

257,520

246,244

334,942

603,953

734,438

374,500

313,823

467,224

487,859

174,900

78,401

96,881

208,031

213,936

202,896

182,415

319,684

396,963

436,676

389,888

344,203

275,124

157,689

220,051

209,378

150,342

183,663

171,709

173,676

162,785

217,182

228,465

292,541

269,061

394,482

318,529

385,577

180,600

163,759

171,181

179,428

189,742

144,451

170,124

144,451

134,776

125,426

122,519

118,507

91,308

88,845

88,843

Short Long Term Debt

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,799,074
0
0
0
182,932
0
0
0
208,031
0
0
1,666,992
214,209
1,871,624
2,001,240
2,018,547
314,326
0
0
0
0
177,738
188,029
165,539
253,059
257,571
298,300
299,723
484,956
522,479
369,552
448,236
302,769
298,242
760,473
962,741
921,270
647,570
347,845
384,730
432,918

432,918

384,730

347,845

647,570

921,270

962,741

760,473

298,242

302,769

448,236

369,552

522,479

484,956

299,723

298,300

257,571

253,059

165,539

188,029

177,738

314,326

2,018,547

2,001,240

1,871,624

214,209

1,666,992

208,031

182,932

1,799,074

Accounts payable

5,215
0
4,664
4,664
0
284
0
180
180
0
0
978
978
0
0
533
0
533
0
97
6,350
6,485
6,394
19
49,122
45,413
26,573
8
8
33,111
0
449
0
0
0
681
681
911
659
1,455
1,455
294
0
3,502
6,005
1,060
1,847
2,432
2,432
1,611
1,173
835
835
1,071
1,423
1,229
1,229
1,132
1,017
487
1,267
906
4,823
1,945
3,311
1,540
0
3,445
0
1,726
1,068
1,247
0
1,239
3,095
1,770
3,571
2,984
4,554
7,887
0
21,547
16,457
30,259

30,259

16,457

21,547

7,887

4,554

2,984

3,571

1,770

3,095

1,239

1,247

1,068

1,726

3,445

1,540

3,311

1,945

4,823

906

1,267

487

1,017

1,132

1,229

1,423

1,071

835

1,173

1,611

2,432

1,847

1,060

6,005

3,502

294

1,455

659

911

681

449

33,111

26,573

45,413

49,122

6,394

6,485

6,350

533

978

180

284

4,664

5,215

Other Current Liabilities

0
0
0
4,117
103,784
18,960
19,544
382
382
29,493
23,082
1,315
1,315
27,635
30,682
2,998
68,397
2,998
36,600
25,735
88,888
42,811
58,879
39,591
76,869
26,039
33,815
27,334
6,600
11,729
24,983
6,138
39,523
19,352
30,080
9,334
9,334
25,019
5,874
34,519
34,519
9,329
39,457
34,484
9,762
28,238
7,005
20,926
20,926
5,313
6,252
24,550
24,550
2,224
5,437
58,515
58,515
56,128
42,303
25,499
49,839
56,891
61,119
59,676
9,500
14,163
37,135
30,458
53,709
13,112
16,326
26,285
38,145
20,355
24,587
23,068
44,537
44,334
76,111
46,603
82,623
186,216
117,352
54,716

54,716

117,352

186,216

82,623

46,603

76,111

44,334

44,537

23,068

24,587

20,355

38,145

26,285

16,326

13,112

53,709

30,458

37,135

14,163

9,500

59,676

61,119

56,891

49,839

25,499

42,303

56,128

58,515

5,437

2,224

24,550

6,252

5,313

20,926

7,005

28,238

9,762

34,484

39,457

9,329

34,519

5,874

25,019

9,334

30,080

19,352

39,523

6,138

24,983

11,729

6,600

27,334

33,815

26,039

76,869

39,591

58,879

42,811

88,888

25,735

36,600

2,998

68,397

2,998

30,682

27,635

1,315

23,082

29,493

382

19,544

18,960

103,784

4,117

> Long-term Liabilities

0
0
0
0
0
1,465,431
1,414,554
1,391,689
1,391,689
1,746,019
1,729,922
1,697,671
1,697,671
1,620,733
1,612,911
1,779,492
1,758,148
1,779,492
2,102,565
2,107,626
2,128,773
2,133,252
2,279,842
2,337,894
2,275,465
2,057,401
2,018,109
0
1,932,217
1,819,145
1,826,098
1,844,740
1,941,689
1,936,907
1,950,625
1,864,889
1,864,889
1,802,232
1,744,455
1,780,803
1,780,803
1,561,647
1,505,742
1,421,610
1,326,543
1,409,624
1,539,334
1,674,307
1,674,307
1,359,609
1,691,991
1,584,050
1,584,050
1,656,702
1,595,263
1,564,312
1,564,312
1,479,067
1,530,255
1,473,340
1,294,440
1,413,141
1,672,935
2,293,688
2,341,200
2,366,220
2,411,142
2,413,165
2,454,911
2,376,018
2,242,583
1,721,029
1,634,146
1,832,355
2,058,075
2,076,654
2,197,675
1,683,057
1,523,485
1,713,488
1,926,640
2,166,176
1,916,412
1,722,797

1,722,797

1,916,412

2,166,176

1,926,640

1,713,488

1,523,485

1,683,057

2,197,675

2,076,654

2,058,075

1,832,355

1,634,146

1,721,029

2,242,583

2,376,018

2,454,911

2,413,165

2,411,142

2,366,220

2,341,200

2,293,688

1,672,935

1,413,141

1,294,440

1,473,340

1,530,255

1,479,067

1,564,312

1,595,263

1,656,702

1,584,050

1,691,991

1,359,609

1,674,307

1,539,334

1,409,624

1,326,543

1,421,610

1,505,742

1,561,647

1,780,803

1,744,455

1,802,232

1,864,889

1,950,625

1,936,907

1,941,689

1,844,740

1,826,098

1,819,145

1,932,217

2,018,109

2,057,401

2,275,465

2,337,894

2,279,842

2,133,252

2,128,773

2,107,626

2,102,565

1,779,492

1,758,148

1,779,492

1,612,911

1,620,733

1,697,671

1,729,922

1,746,019

1,391,689

1,414,554

1,465,431

Long term Debt Total

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,350,611
2,274,189
2,320,886
2,346,324
2,377,715
2,392,582
2,356,372
2,295,317
2,167,922
1,688,313
1,613,511
1,810,994
2,037,474
2,059,441
2,187,806
1,649,494
1,495,180
1,699,127
1,903,145
2,153,756
1,904,392
0

1,904,392

2,153,756

1,903,145

1,699,127

1,495,180

1,649,494

2,187,806

2,059,441

2,037,474

1,810,994

1,613,511

1,688,313

2,167,922

2,295,317

2,356,372

2,392,582

2,377,715

2,346,324

2,320,886

2,274,189

1,350,611

Capital Lease Obligations Min Short Term Debt

0
0
0
0
0
-88,843
-88,845
-91,308
-91,308
-118,507
-122,519
-122,519
-122,519
-125,426
-134,776
-144,451
-170,124
-144,451
-189,742
-179,428
-171,181
-163,759
-180,600
-385,577
-318,529
-394,482
-269,061
-292,541
-292,541
-228,465
-217,182
-162,785
-173,676
-171,709
-183,663
-150,342
-150,342
-209,378
-220,051
-157,689
-157,689
-275,124
-344,203
-389,888
-436,676
-396,963
-319,684
-182,415
-182,415
-202,896
-213,936
-208,031
-208,031
-96,881
-78,401
-174,900
-174,900
-487,859
-467,224
-313,823
-374,500
-734,438
-603,953
-334,942
910,651
883,632
889,195
784,494
762,606
704,258
684,996
39,244
-10,914
129,271
37,761
170,227
161,528
-314,047
-529,779
-501,929
-242,084
43,708
-162,068
-432,918

-432,918

-162,068

43,708

-242,084

-501,929

-529,779

-314,047

161,528

170,227

37,761

129,271

-10,914

39,244

684,996

704,258

762,606

784,494

889,195

883,632

910,651

-334,942

-603,953

-734,438

-374,500

-313,823

-467,224

-487,859

-174,900

-78,401

-96,881

-208,031

-213,936

-202,896

-182,415

-319,684

-396,963

-436,676

-389,888

-344,203

-275,124

-157,689

-220,051

-209,378

-150,342

-183,663

-171,709

-173,676

-162,785

-217,182

-228,465

-292,541

-269,061

-394,482

-318,529

-385,577

-180,600

-163,759

-171,181

-179,428

-189,742

-144,451

-170,124

-144,451

-134,776

-125,426

-122,519

-118,507

-91,308

-88,845

-88,843

Long-term Liabilities Other

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
4
3,183
33,427
4
85,601
4
4
32,716
20,635
21,361
20,601
17,213
9,869
33,563
28,305
14,361
23,495
12,420
12,020
4

12,020

12,420

23,495

14,361

28,305

33,563

9,869

17,213

20,601

21,361

20,635

32,716

85,601

33,427

3,183

Deferred Long Term Liability

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
41,478
0
0
0
36,958
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

36,958

41,478

> Total Stockholder Equity

485,605
485,605
822,026
822,026
613,742
564,446
608,944
660,982
660,982
518,100
541,735
561,522
561,522
560,597
571,546
600,530
629,252
600,530
609,614
614,477
603,718
672,652
675,763
517,350
562,780
672,127
676,097
749,328
749,328
793,540
790,591
828,920
849,169
857,885
839,188
857,091
857,091
907,461
909,380
994,768
994,768
1,209,241
1,189,150
1,191,933
1,193,552
1,176,022
1,182,764
1,153,492
1,153,492
1,199,430
1,185,051
1,241,810
1,241,810
1,135,295
1,131,518
1,134,095
1,134,095
1,098,182
1,102,079
1,194,997
1,193,863
1,241,824
1,231,709
1,180,032
1,168,647
1,154,627
1,115,845
1,106,369
933,909
934,054
927,600
795,651
816,354
901,320
920,455
982,327
1,014,210
1,046,554
1,071,366
1,091,231
1,068,692
1,051,026
1,042,813
1,039,397

1,039,397

1,042,813

1,051,026

1,068,692

1,091,231

1,071,366

1,046,554

1,014,210

982,327

920,455

901,320

816,354

795,651

927,600

934,054

933,909

1,106,369

1,115,845

1,154,627

1,168,647

1,180,032

1,231,709

1,241,824

1,193,863

1,194,997

1,102,079

1,098,182

1,134,095

1,131,518

1,135,295

1,241,810

1,185,051

1,199,430

1,153,492

1,182,764

1,176,022

1,193,552

1,191,933

1,189,150

1,209,241

994,768

909,380

907,461

857,091

839,188

857,885

849,169

828,920

790,591

793,540

749,328

676,097

672,127

562,780

517,350

675,763

672,652

603,718

614,477

609,614

600,530

629,252

600,530

571,546

560,597

561,522

541,735

518,100

660,982

608,944

564,446

613,742

822,026

485,605

Common Stock

485,605
0
0
822,026
613,742
73,925
608,944
74,901
74,901
74,701
541,735
73,144
73,144
560,597
571,546
72,744
629,252
72,744
609,614
72,744
603,718
672,652
72,744
72,744
562,780
77,278
676,097
79,125
79,125
79,125
790,591
79,125
849,169
857,885
839,188
79,125
79,125
79,125
79,225
85,225
85,225
93,260
93,260
93,260
93,285
93,359
93,394
93,404
93,404
93,468
93,468
93,468
93,468
93,505
935
1,015
1,015
1,015
1,015
1,109
1,116
1,194
1,194
1,194
1,194
1,194
1,115,845
1,194
933,909
1,206
1,209
1,278
816,354
1,380
1,386
1,386
1,386
1,386
1,386
1,386
1,068,692
1,386
1,386
1,386

1,386

1,068,692

1,386

1,380

816,354

1,278

1,209

1,206

933,909

1,194

1,115,845

1,194

1,116

1,109

1,015

935

93,505

93,468

93,404

93,394

93,359

93,285

93,260

85,225

79,225

79,125

839,188

857,885

849,169

79,125

790,591

79,125

676,097

77,278

562,780

72,744

672,652

603,718

72,744

609,614

72,744

629,252

72,744

571,546

560,597

73,144

541,735

74,701

74,901

608,944

73,925

613,742

822,026

485,605

Retained Earnings Total Equity

Accumulated Other Comprehensive Income

0
0
0
0
0
452,508
-332,096
-149,131
-149,131
-149,131
-149,131
-166,512
-166,512
-166,512
-166,512
-71
-69,422
-71
-69,422
-13,894
0
0
0
-139,308
0
0
0
-82,000
-82,131
0
0
-88,761
0
0
0
-86,741
-86,741
0
-90,920
-84,597
-84,597
-46,909
-46,539
-37,130
-40,289
-42,186
-33,306
-50,524
-50,524
-28,943
-47,686
-3,163
-3,163
-111,536
-105,630
-85,755
-85,755
-90,088
-82,262
-94,406
14,725
18,520
16,229
-220
-7,431
-12,174
0
-13,015
0
-25,647
-23,479
-19,316
0
-14,089
-13,464
-9,194
0
4,693
8,460
8,714
0
10,126
7,981
4,499

4,499

7,981

10,126

8,714

8,460

4,693

-9,194

-13,464

-14,089

-19,316

-23,479

-25,647

-13,015

-12,174

-7,431

-220

16,229

18,520

14,725

-94,406

-82,262

-90,088

-85,755

-105,630

-111,536

-3,163

-47,686

-28,943

-50,524

-33,306

-42,186

-40,289

-37,130

-46,539

-46,909

-84,597

-90,920

-86,741

-88,761

-82,131

-82,000

-139,308

-13,894

-69,422

-71

-69,422

-71

-166,512

-149,131

-332,096

452,508

Capital Surplus

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,150,582
1,149,547
1,149,412
1,149,676
0
0
0
1,066,289
1,041,708
1,070,752
0
0
0
1,082,855
0
0
0
1,041,116
0
0
0
0

1,041,116

1,082,855

1,070,752

1,041,708

1,066,289

1,149,676

1,149,412

1,149,547

1,150,582

Treasury Stock

Other Stockholders Equity

0
0
0
0
0
111,938
941,040
612,392
612,392
667,231
441,573
607,617
607,617
727,109
738,058
464,478
698,674
464,478
679,036
485,856
603,718
672,652
675,763
499,116
562,780
672,127
676,097
0
565,866
793,540
790,591
592,404
849,169
857,885
839,188
610,024
610,024
907,461
617,188
705,630
705,630
853,309
855,757
867,201
868,535
868,717
870,246
871,337
871,337
873,992
873,992
873,992
873,992
874,337
967,034
963,205
963,205
963,386
963,453
1,084,362
1,084,471
1,150,455
1,150,582
1,149,547
1,149,412
1,149,676
1,115,845
1,118,190
933,909
1,066,289
1,041,708
1,070,752
816,354
1,120,083
1,105,373
1,082,855
1,014,210
1,040,475
1,040,796
1,041,116
1,068,692
1,037,097
1,032,155
1,032,552

1,032,552

1,032,155

1,037,097

1,068,692

1,041,116

1,040,796

1,040,475

1,014,210

1,082,855

1,105,373

1,120,083

816,354

1,070,752

1,041,708

1,066,289

933,909

1,118,190

1,115,845

1,149,676

1,149,412

1,149,547

1,150,582

1,150,455

1,084,471

1,084,362

963,453

963,386

963,205

967,034

874,337

873,992

871,337

870,246

868,717

868,535

867,201

855,757

853,309

705,630

617,188

907,461

610,024

839,188

857,885

849,169

592,404

790,591

793,540

565,866

676,097

672,127

562,780

499,116

675,763

672,652

603,718

485,856

679,036

464,478

698,674

464,478

738,058

727,109

607,617

441,573

667,231

612,392

941,040

111,938

Balance Sheet

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31
Accounts Payable	30,259	7,887	1,770	1,247	3,445	1,945	487	1,229	835	2,432	3,502	1,455	681	32,816	8	19	533	533	978	180	4,664	5,215	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
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
Accumulated Other Comprehensive Income	4,499	8,714	-9,194	-19,316	-13,015	-220	-94,406	-85,755	-3,163	-50,524	-37,130	-84,597	-86,741	-88,761	-82,131	-139,308	-71	-71	-166,512	-149,131	-744,189	0	0
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	419,341	472,996	524,200	573,087	1,106,427	1,172,051	239,607	122,403	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Stock	1,386	1,386	1,386	1,278	1,194	1,194	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	0	1,041,116	1,082,855	1,070,752	1,118,190	1,149,547	1,084,362	963,205	873,992	871,337	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash	165,492	188,362	145,622	215,445	199,521	211,394	153,052	62,382	70,175	50,818	58,641	60,542	94,915	86,967	84,186	46,075	64,569	64,569	32,857	29,193	26,519	20,634	26,041
Cash And Equivalents	0	188,362	145,622	215,445	199,521	211,394	153,052	62,382	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash And Short Term Investments	191,236	195,645	166,832	244,250	273,600	298,568	246,854	180,871	269,769	124,474	135,566	116,203	94,915	86,967	224,075	220,523	64,569	64,569	32,857	29,193	26,519	20,634	26,041
Common Stock	1,386	1,386	1,386	1,278	1,194	1,194	1,109	1,015	93,468	93,404	93,260	85,225	79,125	79,125	79,125	72,744	72,744	72,744	73,144	74,901	822,026	0	0
Common Stock Shares Outstanding	126,584	137,377	139,383	108,972	107,614	105,898	95,597	93,497	93,450	93,331	95,424	80,594	79,125	79,056	74,404	72,772	72,902	72,902	74,781	75,282	73,910	73,926	73,871
Common Stock Total Equity	0	0	0	1,278	1,194	1,194	1,109	1,015	93,468	93,404	93,260	85,225	79,125	79,125	79,125	72,744	72,744	72,744	73,144	74,901	0	0	0
Current Deferred Revenue	31,961	27,196	21,505	15,156	10,000	7,562	3,936	4,326	5,549	7,982	4,566	3,855	3,740	0	20,734	68,055	25,673	25,673	9,908	8,396	18,729	26,621	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
Deferred Long Term Liab	0	0	0	0	0	0	0	0	0	36,958	41,478	0	0	0	0	0	0	0	0	0	0	0	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Good Will	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Inventory	11,728	16,395	10,124	8,808	7,934	8,547	5,126	5,083	5,056	6,927	6,607	2,951	1,228	484	94	252	331	331	185	120,305	16,248	19,949	0
Liabilities And Stockholders Equity	3,731,389	3,861,330	3,459,297	3,093,211	3,885,370	3,877,845	3,012,082	2,937,377	3,064,825	3,041,554	3,045,983	2,973,089	2,896,128	2,882,361	3,001,428	3,348,486	2,553,677	2,553,677	2,393,913	2,152,937	2,156,348	2,123,607	1,951,353
Long Term Debt	1,713,828	1,279,786	1,586,445	1,164,113	1,355,029	1,169,931	1,190,184	1,377,974	1,426,174	1,550,044	1,346,991	1,673,511	1,760,122	1,760,069	1,843,409	2,209,939	2,090,566	1,770,749	1,671,138	1,387,586	850,088	975,554	0
Long Term Debt Total	0	1,699,127	2,059,441	1,688,313	2,392,582	2,274,189	1,190,184	1,377,974	1,426,174	1,550,044	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Investments	16,473	16,547	16,635	649,420	42,161	25,107	10,678	130	947,425	1,191,090	57,620	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
Net Debt	2,400,595	2,485,690	2,267,792	2,006,711	2,514,994	2,397,737	1,350,955	1,490,492	1,596,301	1,681,641	1,678,238	1,770,658	1,815,549	1,835,887	2,051,764	2,549,441	1,850,631	1,850,631	1,760,800	1,449,701	1,264,257	1,562,229	-26,041
Net Invested Capital	3,186,143	2,201,056	1,889,214	2,444,720	2,714,457	2,617,112	2,699,004	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Receivables	73,989	19,824	32,041	63,138	78,588	41,771	9,625	17,519	45,659	152,491	13,249	54,203	9,775	32,745	36,810	47,026	67,421	67,421	81,207	5,361	31,147	29,960	0
Net Tangible Assets	0	1,091,231	982,327	795,651	1,106,369	1,180,032	1,194,997	1,134,095	1,241,810	1,153,492	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Working Capital	-671,136	-759,629	-150,000	-220,095	24,651	9,454	-26,050	39,457	136,952	126,470	-140,236	45,114	18,615	26,600	-54,626	-161,700	133,498	133,498	88,220	131,591	-373,170	-559,558	0
Non Current Assets Total	3,437,268	3,564,348	3,208,981	2,736,775	3,494,883	3,464,266	2,694,387	2,658,950	2,688,908	2,701,329	2,753,779	2,730,457	2,703,365	2,647,060	2,736,171	3,016,944	2,246,524	2,246,524	2,170,973	1,921,080	2,045,284	2,020,717	1,696,528
Non Current Liabilities Other	4	14,361	17,213	32,716	4	4	4	4	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Current Liabilities Total	1,722,797	1,713,488	2,076,654	1,721,029	2,413,165	2,293,688	1,473,340	1,564,312	1,584,050	1,674,307	1,421,610	1,780,803	1,864,889	1,844,740	1,932,217	2,337,894	1,779,492	1,779,492	1,697,671	1,391,689	850,088	975,554	0
Non Currrent Assets Other	96,707	188,789	248,598	771,400	1,333,541	367,203	335,138	364,389	448,529	474,158	638,908	300,276	353,047	345,279	7,927	14,696	37,586	37,586	37,409	43,131	21,698	22,898	-1,696,528
Noncontrolling Interest In Consolidated Entity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	0	40,198	67,316	145,871	391,864	356,570	326,791	391,794	28,546	50,614	45,449	24,475	26,268	15,155	8,104	18,334	17,223	48,989	37,515	158,057	23,932	24,597	228,784
Other Current Assets	17,168	81,513	43,105	40,095	34,804	72,240	61,216	80,037	60,489	63,260	143,389	72,226	64,749	109,988	4,278	63,741	161,715	161,715	107,010	76,998	34,916	30,648	0
Other Current Liab	54,716	46,603	23,068	26,285	30,458	59,676	25,499	58,515	24,550	20,926	34,484	34,519	19,385	13,100	6,600	39,591	2,998	2,998	1,315	382	20,153	23,303	0
Other Liab	0	10,307	17,213	8,305	11,053	12,893	3,962	6,128	155,704	153,171	113,669	145,666	127,892	130,138	116,142	235,601	65,460	37,414	37,756	12,881	338,048	525,940	0
Other Stockholder Equity	1,032,552	1,041,116	1,082,855	1,070,752	1,118,190	1,149,547	1,084,362	963,205	873,992	871,337	867,201	705,630	610,024	592,404	565,866	499,116	464,478	464,478	607,617	612,392	1,566,215	485,605	466,742
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
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
Property Plant And Equipment Gross	4,232,132	3,359,012	2,943,748	1,938,078	3,057,379	3,071,956	2,348,571	2,294,431	2,155,764	2,173,714	2,073,884	2,197,290	1,020,580	786,112	627,654	656,216	583,244	246,549	315,220	236,305	1,863,504	1,904,146	1,696,528
Property Plant And Equipment Net	3,230,381	3,359,012	2,943,748	1,938,078	2,119,181	3,071,956	2,348,571	2,294,431	2,155,764	2,173,714	2,073,884	2,197,290	1,020,580	786,112	627,654	656,216	246,549	246,549	315,220	236,305	1,863,504	1,904,146	1,696,528
Property Plant Equipment	0	3,359,012	2,943,748	1,938,078	2,119,181	2,309,601	1,762,596	1,737,169	1,681,466	1,464,700	1,215,624	1,110,301	1,020,580	786,112	627,654	656,216	629,503	246,549	315,220	236,305	1,863,504	1,904,146	0
Retained Earnings	960	40,015	-92,720	-257,063	0	29,511	203,932	255,630	277,513	239,275	268,602	288,510	254,683	246,152	186,468	84,798	63,379	63,379	47,273	122,820	0	0	0
Retained Earnings Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt	432,918	921,270	302,769	484,956	253,059	267,149	313,823	174,900	208,031	182,932	1,799,074	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt Total	2,566,087	2,674,052	2,413,414	2,222,156	2,714,515	2,609,131	1,504,007	1,552,874	1,666,476	1,732,459	1,736,879	1,831,200	1,910,464	1,922,854	2,135,950	2,595,516	1,915,200	1,915,200	1,793,657	1,478,894	1,290,776	1,582,863	0
Short Term Debt	852,259	974,925	353,973	533,843	321,933	334,942	313,823	174,900	208,031	182,415	389,888	157,689	150,342	162,785	292,541	385,577	144,451	144,451	122,519	91,308	440,688	607,309	0
Short Term Investments	25,744	7,283	21,210	28,805	74,079	87,174	93,802	118,489	199,594	73,656	76,925	55,661	83,484	103,976	139,889	174,448	33,694	12,937	1,575	5,379	565,500	0	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Assets	3,731,389	3,861,330	3,459,297	3,093,211	3,885,370	3,877,845	3,012,082	2,937,377	3,064,825	3,041,554	3,045,983	2,973,089	2,896,128	2,882,361	3,001,428	3,348,486	2,553,677	2,553,677	2,393,913	2,152,937	2,156,348	2,123,607	1,951,353
Total Current Assets	294,121	296,982	250,316	356,436	390,487	413,579	317,695	278,427	375,917	340,225	292,204	242,632	192,763	235,301	265,257	331,542	307,153	307,153	222,940	231,857	111,064	102,890	26,041
Total Current Liabilities	969,195	1,056,611	400,316	576,531	365,836	404,125	343,745	238,970	238,965	213,755	432,440	197,518	174,148	208,701	319,883	493,242	173,655	173,655	134,720	100,266	484,234	662,448	0
Total Liab	2,691,992	2,770,099	2,476,970	2,297,560	2,779,001	2,697,813	1,817,085	1,803,282	1,823,015	1,888,062	1,854,050	1,978,321	2,039,037	2,053,441	2,252,100	2,831,136	1,953,147	1,953,147	1,832,391	1,491,955	1,334,322	1,638,002	1,484,611
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Stockholder Equity	1,039,397	1,091,231	982,327	795,651	1,106,369	1,180,032	1,194,997	1,134,095	1,241,810	1,153,492	1,191,933	994,768	857,091	828,920	749,328	517,350	600,530	600,530	561,522	660,982	822,026	485,605	466,742
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
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-03-31	2002-12-31
Accounts Payable	30,259	16,457	21,547	0	7,887	4,554	2,984	3,571	1,770	3,095	1,239	0	1,247	1,068	1,726	0	3,445	0	1,540	3,311	1,945	4,823	906	1,267	487	1,017	1,132	1,229	1,229	1,423	1,071	835	835	1,173	1,611	2,432	2,432	1,847	1,060	6,005	3,502	0	294	1,455	1,455	659	911	681	681	0	0	0	449	0	33,111	8	8	26,573	45,413	49,122	19	6,394	6,485	6,350	97	0	533	0	533	0	0	978	978	0	0	180	180	0	284	0	4,664	4,664	0	5,215
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	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Accumulated Other Comprehensive Income	4,499	7,981	10,126	0	8,714	8,460	4,693	0	-9,194	-13,464	-14,089	0	-19,316	-23,479	-25,647	0	-13,015	0	-12,174	-7,431	-220	16,229	18,520	14,725	-94,406	-82,262	-90,088	-85,755	-85,755	-105,630	-111,536	-3,163	-3,163	-47,686	-28,943	-50,524	-50,524	-33,306	-42,186	-40,289	-37,130	-46,539	-46,909	-84,597	-84,597	-90,920	0	-86,741	-86,741	0	0	0	-88,761	0	0	-82,131	-82,000	0	0	0	-139,308	0	0	0	-13,894	-69,422	-71	-69,422	-71	-166,512	-166,512	-166,512	-166,512	-149,131	-149,131	-149,131	-149,131	-332,096	452,508	0	0	0	0	-
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	419,341	432,963	446,426	459,770	472,996	485,997	498,823	511,565	524,200	536,610	548,848	561,016	573,087	1,056,859	1,073,502	1,102,572	1,106,427	1,125,439	1,141,152	1,156,895	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Capital Stock	1,386	1,386	1,386	0	1,386	1,386	1,386	0	1,386	1,386	1,380	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	0	0	1,041,116	0	0	0	1,082,855	0	0	0	1,070,752	1,041,708	1,066,289	0	0	0	1,149,676	1,149,412	1,149,547	1,150,582	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	165,492	118,028	201,466	185,193	188,362	178,682	223,816	149,289	145,622	250,703	371,852	216,005	215,445	205,814	152,124	206,474	199,521	138,332	212,400	154,077	211,394	143,989	144,787	139,991	153,052	245,782	248,999	62,382	62,382	63,420	82,016	70,175	70,175	60,283	61,571	50,818	50,818	32,623	49,480	36,982	58,641	59,031	41,023	60,542	60,542	66,818	100,788	94,915	94,915	81,236	88,501	90,109	86,967	66,812	54,585	84,186	84,186	92,854	61,367	50,070	46,075	118,657	86,422	100,734	78,255	45,426	64,569	146,435	64,569	31,621	44,194	32,857	32,857	71,808	52,560	29,193	29,193	69,171	32,138	138,777	26,519	26,519	0	20,634
Cash And Equivalents	0	118,028	201,466	185,193	188,362	178,682	223,816	149,289	145,622	250,703	371,852	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	191,236	145,673	233,837	207,642	195,645	203,502	260,094	196,697	166,832	298,678	436,165	278,167	244,250	303,111	250,252	266,705	273,600	265,104	371,765	292,943	298,568	304,043	298,499	264,923	246,854	393,644	392,884	180,871	180,871	209,513	233,625	269,769	269,769	138,519	148,152	124,474	124,474	139,480	111,369	142,767	135,566	176,977	159,970	116,203	116,203	125,571	100,788	178,399	178,399	81,236	88,501	90,109	190,943	66,812	54,585	224,075	0	92,854	61,367	50,070	220,523	118,657	86,422	100,734	78,255	45,426	64,569	146,435	64,569	31,621	44,194	32,857	32,857	71,808	52,560	29,193	29,193	69,171	32,138	0	0	0	0	-
Common Stock	1,386	1,386	1,386	1,068,692	1,386	1,386	1,386	1,386	1,386	1,386	1,380	816,354	1,278	1,209	1,206	933,909	1,194	1,115,845	1,194	1,194	1,194	1,194	1,194	1,116	1,109	1,015	1,015	1,015	1,015	935	93,505	93,468	93,468	93,468	93,468	93,404	93,404	93,394	93,359	93,285	93,260	93,260	93,260	85,225	85,225	79,225	79,125	79,125	79,125	839,188	857,885	849,169	79,125	790,591	79,125	79,125	79,125	676,097	77,278	562,780	72,744	72,744	672,652	603,718	72,744	609,614	72,744	629,252	72,744	571,546	560,597	73,144	73,144	541,735	74,701	74,901	74,901	608,944	73,925	613,742	822,026	0	0	485,605
Common Stock Shares Outstanding	125,701	125,763	126,752	126,796	126,796	126,787	126,786	126,786	126,786	118,485	126,257	116,359	111,202	109,106	107,921	107,631	107,625	107,611	107,610	107,608	107,607	107,607	104,953	105,017	101,805	101,805	93,505	93,505	93,505	93,505	93,505	93,468	93,468	93,468	93,450	93,402	93,402	93,402	93,287	116,643	93,260	93,260	86,136	84,768	84,768	84,768	79,225	79,127	79,127	79,125	79,125	79,125	79,125	79,125	79,125	78,846	78,846	77,237	76,239	72,744	72,744	72,744	72,744	72,744	72,744	72,744	72,744	72,744	72,744	72,744	72,827	72,827	72,827	74,606	74,839	74,611	74,611	75,282	73,926	73,926	0	0	0	-
Common Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	1,278	1,209	1,206	0	1,194	0	1,194	1,194	1,194	1,194	1,194	1,116	1,109	1,015	1,015	1,015	1,015	935	93,505	93,505	93,468	93,468	93,468	93,443	93,404	93,394	93,359	93,285	93,260	93,260	93,260	0	85,225	79,225	0	0	79,125	0	0	0	79,125	0	0	79,125	79,125	0	0	0	72,744	0	0	0	72,744	0	0	72,744	72,744	0	0	0	73,144	0	0	0	74,901	0	0	0	0	0	0	-
Current Deferred Revenue	31,961	-16,457	-21,547	0	27,196	0	0	0	21,505	21,215	19,056	0	15,156	17,397	16,958	0	10,000	0	12,815	13,857	7,562	15,646	16,848	15,151	3,936	13,973	16,545	4,326	4,326	12,181	12,282	5,549	5,549	12,159	14,146	7,982	7,982	18,800	879	14,066	4,566	0	25,615	3,855	3,855	21,584	0	13,791	13,791	0	0	0	39,329	0	0	20,734	0	0	0	0	68,055	0	0	0	22,665	0	25,673	0	25,673	0	0	9,908	9,908	0	0	8,396	8,396	0	7,042	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	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	36,958	0	0	0	41,478	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Good Will	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	11,728	12,307	15,272	0	16,395	16,731	14,262	6,896	10,124	13,323	11,087	8,009	8,808	8,694	9,280	11,467	7,934	0	7,088	7,893	8,547	8,387	6,789	6,045	5,126	5,806	5,034	5,083	5,083	5,298	5,050	5,056	5,056	5,287	6,120	6,927	6,927	6,797	5,557	7,890	6,607	6,150	3,263	2,951	2,951	3,642	39,664	1,228	1,228	22,904	16,833	5,601	484	5,601	4,101	94	94	4,914	813	54,334	252	36,340	34,927	35,551	267	0	331	13,482	331	0	0	185	185	0	0	120,305	120,305	0	14,198	0	16,248	16,248	0	19,949
Liabilities And Stockholders Equity	3,731,389	3,671,608	3,806,136	3,779,809	3,861,330	3,691,292	3,589,799	3,606,459	3,459,297	3,526,276	3,193,902	3,060,575	3,093,211	3,576,837	3,711,112	3,782,495	3,885,370	3,800,366	3,806,885	3,782,759	3,877,845	3,590,185	3,464,048	2,929,060	3,012,082	3,156,851	3,138,913	2,937,377	2,937,377	2,824,223	2,904,455	3,064,825	3,064,825	3,110,562	2,783,005	3,041,554	3,041,554	3,069,434	3,012,786	2,986,604	3,045,983	3,078,552	3,081,250	2,973,089	2,973,089	2,902,003	2,944,090	2,896,128	2,896,128	3,003,556	2,985,853	3,004,057	2,882,361	2,858,854	2,885,990	3,001,428	3,001,428	3,023,655	3,195,462	3,282,765	3,348,486	3,201,478	3,018,959	2,998,910	2,950,028	2,938,521	2,553,677	2,625,921	2,553,677	2,349,915	2,334,391	2,393,913	2,393,913	2,417,258	2,412,119	2,152,937	2,152,937	2,131,887	2,145,006	0	0	0	0	-
Long Term Debt	1,713,828	1,681,730	1,762,203	1,497,659	1,279,786	1,062,218	1,203,068	1,728,036	1,586,445	1,551,477	1,312,171	1,101,946	1,164,113	1,183,203	1,292,759	1,336,195	1,355,029	1,322,981	1,274,663	1,232,497	1,169,931	1,668,412	1,408,196	1,289,228	1,420,760	1,477,509	1,418,306	1,413,726	1,496,728	1,480,125	1,520,321	1,506,828	1,458,445	1,561,830	1,258,816	1,330,682	1,550,044	1,458,710	1,333,052	1,258,549	1,346,991	1,424,174	1,474,168	1,565,154	1,673,511	1,630,480	1,689,905	1,692,445	1,760,122	1,842,333	1,852,224	1,866,417	1,760,069	1,718,366	1,724,913	1,826,396	1,843,409	1,915,922	1,960,719	2,155,560	2,209,939	2,245,528	2,098,165	2,092,916	2,090,566	2,077,390	1,903,591	1,749,913	1,770,749	1,603,772	1,620,129	1,630,535	1,671,138	1,702,768	1,728,518	1,513,025	1,387,586	1,412,875	1,465,431	1,468,858	850,088	850,088	0	975,554
Long Term Debt Total	0	1,904,392	2,153,756	1,903,145	1,699,127	1,495,180	1,649,494	2,187,806	2,059,441	2,037,474	1,810,994	1,613,511	1,688,313	2,167,922	2,295,317	2,356,372	2,392,582	2,377,715	2,346,324	2,320,886	2,274,189	1,350,611	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Long Term Investments	16,473	53,615	101,387	116,291	16,547	16,570	16,584	16,598	16,635	203,671	287,924	298,193	649,420	36,777	34,642	922,067	42,161	874,880	34,098	29,847	0	0	0	0	919,000	11,642	4,743	7,037	869,342	307	0	0	947,425	0	0	0	1,191,090	0	0	0	57,620	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Net Debt	2,400,595	2,381,395	2,355,008	2,419,806	2,485,690	2,332,274	2,238,548	2,388,554	2,267,792	2,285,620	1,858,719	1,969,436	2,006,711	2,333,971	2,512,437	2,489,864	2,514,994	2,475,627	2,391,444	2,413,053	2,397,737	2,128,376	1,997,847	1,523,737	1,350,955	1,698,951	1,657,166	1,490,492	1,490,492	1,495,106	1,535,186	1,596,301	1,596,301	1,715,483	1,400,141	1,681,641	1,681,641	1,745,771	1,680,535	1,658,243	1,678,238	1,709,346	1,708,269	1,770,658	1,770,658	1,783,713	1,798,495	1,815,549	1,815,549	1,944,760	1,935,432	1,949,984	1,835,887	1,868,736	1,898,793	2,051,764	2,051,764	2,092,129	2,293,812	2,424,019	2,549,441	2,307,471	2,175,502	2,163,363	2,191,739	2,221,706	1,850,631	1,773,602	1,850,631	1,706,927	1,701,361	1,760,800	1,760,800	1,753,479	1,794,465	1,449,701	1,449,701	1,432,549	1,522,136	0	0	0	0	-
Net Invested Capital	3,186,143	2,066,460	2,110,048	2,145,229	2,201,056	2,024,959	1,963,541	2,026,278	1,889,214	1,999,713	1,681,723	1,624,425	2,444,720	2,410,526	2,525,113	1,593,766	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	73,989	3,986	3,589	2,819	19,824	55,412	41,840	8,615	32,041	32,260	29,272	3,637	63,138	45,157	41,210	71,734	78,588	64,793	44,728	56,099	41,771	25,071	22,319	19,368	9,625	27,888	35,924	17,519	17,519	28,131	33,037	45,659	45,659	90,309	76,877	152,491	152,491	49,519	30,204	29,363	13,249	16,229	14,846	54,203	54,203	50,522	30,451	12,591	12,591	3,532	4,097	4,122	37,946	28,329	34,690	36,810	36,810	24,773	21,758	14,754	47,026	91,138	60,736	29,224	42,158	0	67,421	13,544	67,421	0	0	81,207	81,207	0	0	5,361	5,361	0	4,651	0	0	0	0	-
Net Tangible Assets	0	1,042,813	0	0	1,091,231	1,071,366	1,046,554	1,014,210	982,327	920,455	901,320	816,354	795,651	927,600	934,054	933,909	1,106,369	1,115,845	1,154,627	1,168,647	0	0	0	0	1,194,997	0	0	0	1,134,095	0	0	0	1,241,810	0	0	0	1,153,492	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Working Capital	-671,136	-483,361	-267,889	-486,731	-759,629	-805,129	-529,220	-134,430	-150,000	-172,966	36,530	-275,973	-220,095	-37,621	-81,978	-2,933	24,651	84,925	139,798	86,888	9,454	-268,423	-402,348	-147,826	-26,050	-94,454	-114,051	39,457	39,457	148,291	162,165	136,952	136,952	5,016	11,708	126,470	126,470	-146,771	-196,500	-283,487	-140,236	-181,332	-131,112	45,114	45,114	-26,808	10,068	18,615	18,615	627	23,408	-2,902	26,600	-21,562	-45,403	-54,626	-54,626	-50,482	-214,727	-154,411	-161,700	187,881	171,136	88,900	105,670	55,853	133,498	81,544	133,498	59,864	35,556	88,220	88,220	78,753	15,590	131,591	131,591	84,061	56,523	0	0	0	0	-
Non Current Assets Total	3,437,268	3,442,586	3,485,091	3,482,063	3,564,348	3,399,980	3,258,831	3,346,315	3,208,981	3,151,496	2,697,145	2,726,473	2,736,775	3,207,804	3,392,050	3,391,753	3,494,883	3,442,062	3,381,049	3,422,959	3,464,266	3,173,067	3,057,313	2,636,129	2,694,387	2,726,788	2,691,300	2,658,950	2,658,950	2,578,490	2,629,832	2,688,908	2,688,908	2,872,026	2,547,331	2,701,329	2,701,329	2,868,869	2,782,146	2,803,582	2,753,779	2,876,224	2,902,000	2,730,457	2,730,457	2,680,643	2,699,625	2,703,365	2,703,365	2,789,186	2,771,384	2,793,760	2,647,060	2,638,251	2,658,088	2,736,171	0	2,744,688	2,944,255	2,992,656	3,016,944	2,767,724	2,634,768	2,643,591	2,616,433	2,656,326	2,246,524	2,305,856	2,246,524	2,124,593	2,145,774	2,170,973	2,170,973	2,192,904	2,248,529	1,921,080	1,921,080	1,939,437	1,973,354	0	0	0	0	-
Non Current Liabilities Other	4	12,020	12,420	23,495	14,361	28,305	33,563	9,869	17,213	20,601	21,361	20,635	32,716	4	4	85,601	4	33,427	3,183	4	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Non Current Liabilities Total	1,722,797	1,916,412	2,166,176	1,926,640	1,713,488	1,523,485	1,683,057	2,197,675	2,076,654	2,058,075	1,832,355	1,634,146	1,721,029	2,242,583	2,376,018	2,454,911	2,413,165	2,411,142	2,366,220	2,341,200	2,293,688	1,672,935	1,413,141	1,294,440	1,473,340	1,530,255	1,479,067	1,564,312	1,564,312	1,595,263	1,656,702	1,584,050	1,584,050	1,691,991	1,359,609	1,674,307	1,674,307	1,539,334	1,409,624	1,326,543	1,421,610	1,505,742	1,561,647	1,780,803	1,780,803	1,744,455	1,802,232	1,864,889	1,864,889	1,950,625	1,936,907	1,941,689	1,844,740	1,826,098	1,819,145	1,932,217	0	2,018,109	2,057,401	2,275,465	2,337,894	2,279,842	2,133,252	2,128,773	2,107,626	2,102,565	1,779,492	1,758,148	1,779,492	1,612,911	1,620,733	1,697,671	1,697,671	1,729,922	1,746,019	1,391,689	1,391,689	1,414,554	1,465,431	0	0	0	0	-
Non Currrent Assets Other	96,707	81,958	86,793	84,366	188,789	97,344	83,427	67,898	248,598	67,306	149,994	156,865	771,400	343,456	386,422	1,312,011	1,333,541	1,232,660	355,274	361,373	367,203	360,336	345,521	324,138	335,138	341,720	341,382	364,389	364,389	371,895	374,944	448,529	448,529	514,856	428,298	474,158	474,158	563,647	570,114	642,868	638,908	664,701	683,861	300,276	300,276	308,106	386,319	349,907	349,907	499,056	523,706	365,763	340,440	450,954	18,777	7,927	0	13,556	14,539	22,414	14,696	24,766	20,482	18,485	2,026,651	2,094,207	37,586	1,887,098	37,586	1,875,719	1,903,653	37,409	37,409	1,870,542	1,746,247	43,131	43,131	1,592,311	1,454,875	0	0	0	0	-
Noncontrolling Interest In Consolidated Entity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Other Assets	0	156,788	175,875	0	40,198	167,430	125,224	107,325	67,316	112,351	149,994	156,865	145,871	343,456	386,422	420,530	391,864	67,920	27,985	34,842	41,443	109,386	109,568	15,239	15,082	17,247	65,158	59,651	80,144	58,446	52,894	60,596	65,807	91,722	92,711	48,999	50,614	42,367	41,216	43,382	46,684	47,985	48,926	51,433	24,475	24,209	25,624	145,233	26,268	188,628	182,300	162,085	15,155	138,043	16,123	158,195	8,104	169,982	15,051	193,365	18,800	25,738	222,588	208,295	17,223	237,310	228,319	187,933	48,989	175,151	181,292	166,456	37,515	184,161	52,753	151,066	43,131	159,580	43,707	107,377	23,932	23,932	0	24,597
Other Current Assets	17,168	79,363	83,619	87,285	81,513	81,597	58,576	47,936	43,105	63,613	49,884	44,289	40,095	41,566	18,320	40,836	34,804	28,407	2,255	2,865	72,240	76	79,128	2,595	61,216	2,725	13,771	80,037	80,037	2,791	2,911	60,489	60,489	4,421	4,525	63,260	63,260	4,769	89,067	3,002	143,389	2,972	1,171	72,226	72,226	41,625	73,562	545	545	106,698	105,038	110,465	5,928	119,861	134,526	4,278	177	156,426	167,269	170,951	63,741	187,619	202,106	189,810	185,631	214,099	161,715	146,604	161,715	182,777	144,423	107,010	107,010	152,546	111,030	76,998	76,998	123,279	120,665	78,058	0	0	0	-
Other Current Liab	54,716	117,352	186,216	82,623	46,603	76,111	44,334	44,537	23,068	24,587	20,355	38,145	26,285	16,326	13,112	53,709	30,458	37,135	14,163	9,500	59,676	61,119	56,891	49,839	25,499	42,303	56,128	58,515	58,515	5,437	2,224	24,550	24,550	6,252	5,313	20,926	20,926	7,005	28,238	9,762	34,484	39,457	9,329	34,519	34,519	5,874	25,019	9,334	9,334	30,080	19,352	39,523	6,138	24,983	11,729	6,600	27,334	33,815	26,039	76,869	39,591	58,879	42,811	88,888	25,735	36,600	2,998	68,397	2,998	30,682	27,635	1,315	1,315	23,082	29,493	382	382	19,544	18,960	103,784	4,117	0	0	-
Other Liab	0	12,020	0	0	10,307	19,705	25,796	9,520	17,213	9,374	21,361	20,635	8,305	38,831	37,097	98,539	11,053	33,427	3,183	12,501	0	81,288	78,684	70,202	72,984	109,022	133,434	125,219	126,776	132,756	150,887	143,978	155,704	148,572	120,252	138,085	153,171	106,429	105,689	91,822	113,669	121,025	122,423	130,279	145,666	141,433	136,435	137,242	127,892	138,372	104,035	114,795	130,138	132,715	138,819	199,661	116,142	162,575	123,618	245,896	235,601	99,561	84,383	131,095	65,460	61,775	63,591	76,632	37,414	39,821	28,239	54,341	37,756	50,236	46,994	58,588	12,881	21,223	26,002	119,876	338,048	338,048	0	525,940
Other Stockholder Equity	1,032,552	1,032,155	1,037,097	1,068,692	1,041,116	1,040,796	1,040,475	1,014,210	1,082,855	1,105,373	1,120,083	816,354	1,070,752	1,041,708	1,066,289	933,909	1,118,190	1,115,845	1,149,676	1,149,412	1,149,547	1,150,582	1,150,455	1,084,471	1,084,362	963,453	963,386	963,205	963,205	967,034	874,337	873,992	873,992	873,992	873,992	871,337	871,337	870,246	868,717	868,535	867,201	855,757	853,309	705,630	705,630	617,188	907,461	610,024	610,024	839,188	857,885	849,169	592,404	790,591	793,540	565,866	0	676,097	672,127	562,780	499,116	675,763	672,652	603,718	485,856	679,036	464,478	698,674	464,478	738,058	727,109	607,617	607,617	441,573	667,231	612,392	612,392	941,040	111,938	0	0	0	0	-
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Property Plant And Equipment Gross	4,232,132	3,307,013	3,296,911	3,281,406	3,359,012	3,991,738	0	0	0	0	2,259,227	2,271,415	1,938,078	2,827,571	2,970,986	2,049,156	3,057,379	2,171,159	2,991,677	3,031,739	3,071,956	2,791,032	2,693,301	2,297,285	2,348,571	2,378,496	2,303,920	2,372,525	2,294,431	2,178,823	2,232,726	2,165,572	2,155,764	2,088,497	1,855,412	2,051,768	2,173,714	2,146,571	2,024,256	1,975,850	2,073,884	2,175,997	2,187,349	2,099,219	2,197,290	1,034,180	973,982	1,038,062	1,020,580	876,707	829,385	937,361	786,112	602,155	656,948	627,654	627,654	657,827	660,658	659,871	656,216	630,275	619,243	595,819	583,244	562,119	366,658	418,758	246,549	248,874	242,121	271,528	315,220	322,362	502,282	232,117	236,305	347,126	518,479	0	0	0	0	-
Property Plant And Equipment Net	3,230,381	3,307,013	3,296,911	3,281,406	3,359,012	3,178,641	3,047,603	3,086,110	2,943,748	2,880,519	2,259,227	2,271,415	1,938,078	1,958,153	2,034,490	2,049,156	2,119,181	2,171,159	2,225,633	2,254,507	3,071,956	2,255,367	2,072,290	1,740,274	2,348,571	1,784,504	1,737,437	2,294,431	2,294,431	1,793,377	1,811,807	2,155,764	2,155,764	1,609,688	1,357,464	2,173,714	2,173,714	1,421,566	2,171,070	1,277,486	2,073,884	1,223,131	1,131,448	2,197,290	2,197,290	1,034,180	973,982	1,020,580	1,020,580	876,707	829,385	937,361	786,112	602,155	656,948	627,654	0	657,827	660,658	659,871	656,216	630,275	619,243	595,819	583,244	562,119	246,549	418,758	246,549	248,874	242,121	315,220	315,220	322,362	502,282	236,305	236,305	347,126	518,479	0	0	0	0	-
Property Plant Equipment	0	3,307,013	3,296,911	3,281,406	3,359,012	3,080,819	2,985,834	3,032,330	2,943,748	2,834,787	2,259,227	2,271,415	1,938,078	1,958,153	2,034,490	2,049,156	2,119,181	2,171,159	2,225,633	2,254,507	2,309,601	2,255,367	2,072,290	1,740,274	1,762,596	1,784,504	1,691,530	1,715,607	1,737,169	1,765,715	1,789,816	1,741,697	1,681,466	1,566,243	1,314,039	1,361,138	1,464,700	1,421,566	1,332,639	1,277,486	1,215,624	1,223,131	1,131,448	1,099,472	1,110,301	1,034,180	1,035,947	1,038,062	1,020,580	1,006,675	974,685	937,361	786,112	696,465	656,948	641,095	627,654	657,827	660,658	659,871	656,216	630,275	619,243	595,819	629,503	607,824	366,658	418,758	246,549	248,874	242,121	273,528	315,220	322,362	502,282	232,117	236,305	347,126	518,479	526,994	1,863,504	1,863,504	0	1,904,146
Retained Earnings	960	1,291	2,417	0	40,015	20,724	0	-41,414	-92,720	-172,840	-206,054	0	-257,063	-91,838	-107,794	0	0	0	15,931	25,472	29,511	63,704	71,655	93,551	203,932	219,873	223,869	255,630	255,630	269,179	278,989	277,513	277,513	265,277	260,913	239,275	239,275	252,430	256,132	272,021	268,602	286,672	309,581	288,510	288,510	303,887	214,165	254,683	254,683	0	0	0	246,152	0	0	186,468	186,468	0	0	0	84,798	0	0	0	69,771	0	63,379	63,379	63,379	0	0	47,273	47,273	249,293	0	122,820	122,820	0	0	0	0	0	0	-
Retained Earnings Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	432,918	384,730	347,845	647,570	921,270	962,741	760,473	298,242	302,769	448,236	369,552	522,479	484,956	299,723	298,300	257,571	253,059	165,539	188,029	177,738	0	0	0	0	314,326	2,018,547	2,001,240	1,871,624	214,209	1,666,992	0	0	208,031	0	0	0	182,932	0	0	0	1,799,074	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	0	0	0	0	0	0	0	0	0	-
Short Long Term Debt Total	2,566,087	2,499,423	2,556,474	2,604,999	2,674,052	2,510,956	2,462,364	2,537,843	2,413,414	2,536,323	2,230,571	2,185,441	2,222,156	2,539,785	2,664,561	2,696,338	2,714,515	2,613,959	2,603,844	2,567,130	2,609,131	2,272,365	2,142,634	1,663,728	1,504,007	1,944,733	1,906,165	1,552,874	1,552,874	1,558,526	1,617,202	1,666,476	1,666,476	1,775,766	1,461,712	1,732,459	1,732,459	1,778,394	1,730,015	1,695,225	1,736,879	1,768,377	1,749,292	1,831,200	1,831,200	1,850,531	1,899,283	1,910,464	1,910,464	2,025,996	2,023,933	2,040,093	1,922,854	1,935,548	1,953,378	2,135,950	2,135,950	2,184,983	2,355,179	2,474,089	2,595,516	2,426,128	2,261,924	2,264,097	2,269,994	2,267,132	1,915,200	1,920,037	1,915,200	1,738,548	1,745,555	1,793,657	1,793,657	1,825,287	1,847,025	1,478,894	1,478,894	1,501,720	1,554,274	0	0	0	0	-
Short Term Debt	852,259	595,031	402,718	701,854	974,925	1,015,776	812,870	350,037	353,973	498,849	419,577	571,930	533,843	371,863	369,244	339,966	321,933	236,244	257,520	246,244	334,942	603,953	734,438	374,500	313,823	467,224	487,859	174,900	174,900	78,401	96,881	208,031	208,031	213,936	202,896	182,415	182,415	319,684	396,963	436,676	389,888	344,203	275,124	157,689	157,689	220,051	209,378	150,342	150,342	183,663	171,709	173,676	162,785	217,182	228,465	292,541	292,541	269,061	394,482	318,529	385,577	180,600	163,759	171,181	179,428	189,742	144,451	170,124	144,451	134,776	125,426	122,519	122,519	122,519	118,507	91,308	91,308	88,845	88,843	0	0	0	0	-
Short Term Investments	25,744	27,645	32,371	22,449	7,283	24,820	36,278	47,408	21,210	47,975	64,313	62,162	28,805	97,297	98,128	60,231	74,079	126,772	159,365	138,866	87,174	160,054	153,712	124,932	93,802	147,862	143,885	118,489	118,489	146,093	151,609	199,594	199,594	78,236	86,581	73,656	73,656	106,857	61,889	105,785	76,925	117,946	118,947	55,661	55,661	58,753	39,664	83,484	83,484	22,904	16,833	5,601	103,976	5,601	4,101	139,889	139,889	4,914	813	54,334	174,448	36,340	34,927	35,551	26,983	22,670	11,707	13,482	12,937	10,924	10,847	11,083	1,575	0	2,715	3,661	5,379	0	7,886	0	565,500	0	0	-
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	3,731,389	3,671,608	3,806,136	3,779,809	3,861,330	3,691,292	3,589,799	3,606,459	3,459,297	3,526,276	3,193,902	3,060,575	3,093,211	3,576,837	3,711,112	3,782,495	3,885,370	3,800,366	3,806,885	3,782,759	3,877,845	3,590,185	3,464,048	2,929,060	3,012,082	3,156,851	3,138,913	2,937,377	2,937,377	2,824,223	2,904,455	3,064,825	3,064,825	3,110,562	2,783,005	3,041,554	3,041,554	3,069,434	3,012,786	2,986,604	3,045,983	3,078,552	3,081,250	2,973,089	2,973,089	2,902,003	2,944,090	2,896,128	2,896,128	3,003,556	2,985,853	3,004,057	2,882,361	2,858,854	2,885,990	3,001,428	3,001,428	3,023,655	3,195,462	3,282,765	3,348,486	3,201,478	3,018,959	2,998,910	2,950,028	2,938,521	2,553,677	2,625,921	2,553,677	2,349,915	2,334,391	2,393,913	2,393,913	2,417,258	2,412,119	2,152,937	2,152,937	2,131,887	2,145,006	2,291,318	2,156,348	2,156,348	0	2,123,607
Total Current Assets	294,121	229,022	321,045	297,746	296,982	291,312	330,968	260,144	250,316	374,780	496,757	334,102	356,436	369,033	319,062	390,742	390,487	358,304	425,836	359,800	413,579	417,118	406,735	292,931	317,695	430,063	447,613	278,427	278,427	245,733	274,623	375,917	375,917	238,536	235,674	340,225	340,225	200,565	230,640	183,022	292,204	202,328	179,250	242,632	242,632	221,360	244,465	192,763	192,763	214,370	214,469	210,297	235,301	220,603	227,902	265,257	265,257	278,967	251,207	290,109	331,542	433,754	384,191	355,319	333,595	282,195	307,153	320,065	307,153	225,322	188,617	222,940	222,940	224,354	163,590	231,857	231,857	192,450	171,652	0	0	0	0	-
Total Current Liabilities	969,195	712,383	588,934	784,477	1,056,611	1,096,441	860,188	394,574	400,316	547,746	460,227	610,075	576,531	406,654	401,040	393,675	365,836	273,379	286,038	272,912	404,125	685,541	809,083	440,757	343,745	524,517	561,664	238,970	238,970	97,442	112,458	238,965	238,965	233,520	223,966	213,755	213,755	347,336	427,140	466,509	432,440	383,660	310,362	197,518	197,518	248,168	234,397	174,148	174,148	213,743	191,061	213,199	208,701	242,165	273,305	319,883	319,883	329,449	465,934	444,520	493,242	245,873	213,055	266,419	227,925	226,342	173,655	238,521	173,655	165,458	153,061	134,720	134,720	145,601	148,000	100,266	100,266	108,389	115,129	192,626	4,117	0	0	-
Total Liab	2,691,992	2,628,795	2,755,110	2,711,117	2,770,099	2,619,926	2,543,245	2,592,249	2,476,970	2,605,821	2,292,582	2,244,221	2,297,560	2,649,237	2,777,058	2,848,586	2,779,001	2,684,521	2,652,258	2,614,112	2,697,813	2,358,476	2,222,224	1,735,197	1,817,085	2,054,772	2,040,731	1,803,282	1,803,282	1,692,705	1,769,160	1,823,015	1,823,015	1,925,511	1,583,575	1,888,062	1,888,062	1,886,670	1,836,764	1,793,052	1,854,050	1,889,402	1,872,009	1,978,321	1,978,321	1,992,623	2,036,629	2,039,037	2,039,037	2,164,368	2,127,968	2,154,888	2,053,441	2,068,263	2,092,450	2,252,100	2,252,100	2,347,558	2,523,335	2,719,985	2,831,136	2,525,715	2,346,307	2,395,192	2,335,551	2,328,907	1,953,147	1,996,669	1,953,147	1,778,369	1,773,794	1,832,391	1,832,391	1,875,523	1,894,019	1,491,955	1,491,955	1,522,943	1,580,560	1,677,576	1,334,322	1,334,322	0	1,638,002
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	1,039,397	1,042,813	1,051,026	1,068,692	1,091,231	1,071,366	1,046,554	1,014,210	982,327	920,455	901,320	816,354	795,651	927,600	934,054	933,909	1,106,369	1,115,845	1,154,627	1,168,647	1,180,032	1,231,709	1,241,824	1,193,863	1,194,997	1,102,079	1,098,182	1,134,095	1,134,095	1,131,518	1,135,295	1,241,810	1,241,810	1,185,051	1,199,430	1,153,492	1,153,492	1,182,764	1,176,022	1,193,552	1,191,933	1,189,150	1,209,241	994,768	994,768	909,380	907,461	857,091	857,091	839,188	857,885	849,169	828,920	790,591	793,540	749,328	749,328	676,097	672,127	562,780	517,350	675,763	672,652	603,718	614,477	609,614	600,530	629,252	600,530	571,546	560,597	561,522	561,522	541,735	518,100	660,982	660,982	608,944	564,446	613,742	822,026	822,026	485,605	485,605
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	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-

Cash Flow

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31
Begin Period Cash Flow	188,362	153,960	224,398	203,016	212,394	153,052	62,382	70,175	50,818	58,641	60,542	94,915	86,967	84,186	46,075	78,255	32,857	32,857	29,193	26,519	20,634	26,041	0
Capital Expenditures	264,418	602,499	581,622	120,046	39,326	1,137,703	81,664	188,142	496,661	395,197	109,337	167,548	307,785	191,311	71,468	82,595	342,356	342,356	309,572	8,370	-40,642	249,291	0
Cash And Cash Equivalents Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	-22,870	34,402	-70,438	21,382	-9,378	59,342	90,670	-7,793	19,357	-7,823	-1,901	-34,373	7,948	2,781	38,111	-32,180	31,712	31,712	3,664	29,193	5,885	-5,407	10,768
Change In Working Capital	26,171	-12,993	-6,271	15,300	-300	5,126	3,509	-2,199	12,288	-19,558	40,280	-61,287	36,953	14,913	-1,093	-14,125	24,530	24,530	53,643	-117,634	-5,211	-1,765	0
Change Receivables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	-24,068	-9,033	-4,073	-2,352	-1,608	9,607	-9,034	-1,492	1,196	5,109	-4,313	-7,787	864	799	-1,438	-407	3,980	3,980	7,181	-256	-472	0	0
Change To Inventory	4,666	-6,271	-1,315	-873	613	-3,423	-42	-27	-2,529	-320	-3,656	-97	-744	-390	158	15	352	352	3,191	-112,592	4,540	-10,718	0
Change To Liabilities	0	6,118	447	-2,198	1,500	2,370	-742	394	1,071	3,263	2,318	3,980	2,821	0	0	887	5,274	31	0	1,930	0	0	0
Change To Netincome	0	-32,968	-16,183	358,640	25,534	6,261	-24,308	-19,473	-42,508	-47,618	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	-3,807	-6,271	20,723	4,619	-3,427	13,550	-1,000	-715	-1,104	46,202	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	214,062	198,318	151,706	126,960	129,769	115,518	95,914	103,941	78,080	76,683	58,436	58,819	54,243	36,297	35,743	31,815	14,490	14,490	19,907	34,617	106,015	96,773	0
Dividends Paid	122,992	111,574	77,552	109,394	150,659	149,261	152,907	168,289	162,594	152,142	109,114	152,008	122,644	117,235	75,567	122,937	149,123	149,123	148,863	78,905	0	0	0
End Period Cash Flow	165,492	188,362	153,960	224,398	203,016	212,394	153,052	62,382	70,175	50,818	58,641	60,542	94,915	86,967	84,186	46,075	64,569	64,569	32,857	29,193	26,519	20,634	10,768
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
Free Cash Flow	78,671	-247,374	-288,027	156,429	210,381	-936,728	96,132	41,931	-238,260	-262,796	30,787	-80,978	-144,124	-37,540	54,054	128,791	-148,859	-148,859	-28,738	170,158	415,523	-133,633	307,167
Investments	-254,762	-499,088	9,998	176,339	-169,881	8,514	23,306	39,399	310,687	85,243	0	0	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	0	0	89,280	61,485	12,659	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	297,081	21,314	-362,526	105,831	882,449	49,071	-104,200	135,812	41,587	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	83,937	202,768	164,343	-224,425	89,177	73,622	101,209	146,406	200,832	122,815	89,206	185,836	131,175	165,712	192,598	181,611	180,798	180,798	209,546	262,659	334,812	18,024	212,010
Other Cashflows From Financing Activities	-20,412	952,453	-8,025	-20,997	414,405	1,761,824	-31,740	-5,099	-7,155	-7,460	-8,390	-3,989	390,770	957,225	10,149	564,767	-16,616	-16,616	-143,577	942,346	-179,770	267,427	-24,549
Other Cashflows From Investing Activities	0	103,411	-1,312	39,322	-211,065	32,675	32,675	32,675	290,879	199,429	83,583	100,733	0	0	0	1,845	0	0	0	0	0	0	0
Other Non Cash Items	18,919	-32,968	-16,183	358,640	31,061	6,709	-22,836	-18,075	-32,799	-47,539	-47,798	-2,062	135,012	14,400	-101,726	12,085	-26,321	-26,321	-2,262	-1,114	-20,093	2,626	95,157
Sale Purchase Of Stock	-216,022	0	586,750	397,231	0	0	302,104	522,000	595,305	732,436	704,899	257,619	0	0	0	0	-7,212	-7,212	-33,083	-14,713	0	0	0
Stock Based Compensation	0	1,400	1,000	900	800	0	0	0	0	0	0	569	1,408	953	0	0	0	0	0	0	0	0	0
Total Cash From Financing Activities	-262,065	178,365	25,017	-431,432	-89,204	724,931	-135,488	-277,265	-33,262	-118,284	-68,043	-155,252	-149,851	-227,967	-511,479	190,379	-51,079	-51,079	-7,597	-226,283	-358,006	140,714	-24,549
Total Cash From Operating Activities	343,089	355,125	293,595	276,475	249,707	200,975	177,796	230,073	258,401	132,401	140,124	86,570	163,661	153,771	125,522	211,386	193,497	193,497	280,834	178,528	415,523	115,658	307,167
Total Cashflows From Investing Activities	0	-499,088	-389,050	176,339	-169,881	-866,564	48,362	39,399	-205,782	-21,940	-73,982	34,309	0	76,977	424,068	0	0	0	0	76,948	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	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31
Begin Period Cash Flow	118,028	201,466	185,193	188,362	178,682	229,530	156,185	153,960	256,273	377,718	224,014	224,398	214,442	160,118	217,941	203,016	138,332	212,400	154,077	212,394	143,989	144,787	139,991	153,052	245,782	248,999	61,554	63,420	63,420	82,016	84,426	60,283	60,283	61,571	49,730	32,623	32,623	49,480	36,982	58,641	59,031	41,023	64,820	66,818	66,818	100,788	111,586	81,236	81,236	88,501	90,109	86,967	66,812	54,585	103,640	92,854	92,854	61,367	50,070	46,075	118,658	86,422	100,735	78,256	45,426	99,116	31,621	64,569	31,621	33,347	88,472	68,944	68,944	49,845	112,037	63,369	63,369	32,138	138,800	0	0	0	-	0
Capital Expenditures	63,621	65,616	111,188	23,993	228,475	179,164	8,117	186,743	146,796	411,380	15,609	7,837	5,769	8,969	81,884	23,394	10,287	27,940	841	1,320	416,687	210,000	511,016	-22,322	81,664	69,204	1,201	5,785	5,785	5,671	93,762	93,697	93,697	270,011	43,515	74,034	74,034	114,054	74,271	101,227	32,522	12,796	46,280	100,071	100,071	67,477	13,302	29,983	29,983	42,160	235,642	185,860	99,190	23,114	69,007	47,773	47,773	4,689	8,139	10,867	70,122	17,883	30,583	104,251	67,837	224,279	331,974	182,864	331,974	6,753	-31,407	259,683	259,683	49,889	270,165	-4,188	-110,821	-171,353	-8,515	-1,336,510	0	0	0	0
Cash And Cash Equivalents 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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Cash Flows Other Operating	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Change In Cash	47,464	-83,438	16,273	-3,169	9,680	-50,848	73,345	2,225	-102,313	-121,445	153,704	-384	9,956	54,324	-57,823	14,925	64,684	-74,068	58,323	-58,317	68,405	-798	4,796	-13,061	-92,730	-3,217	187,445	-1,038	-1,038	-18,596	-2,410	9,892	9,892	-1,288	11,841	18,195	18,195	-16,857	12,498	-21,659	-390	18,008	-23,797	-6,276	-6,276	-33,970	-10,798	13,679	13,679	-7,265	-1,608	3,142	20,155	12,227	-49,055	-8,668	-8,668	31,487	11,297	3,995	-72,583	32,236	-14,313	22,479	32,829	-53,690	32,948	81,866	32,948	-1,726	-55,125	-36,087	-36,087	19,099	-62,192	-34,176	-34,176	31,231	-97,400	0	0	0	-	0
Change In Working Capital	-17,245	-53,323	83,471	13,268	11,237	-11,039	-5,809	-7,382	-891	82	-4,673	-789	14,388	4,471	-18,761	15,202	-7,411	18,019	-7,611	-3,297	-1,278	-2,264	622	8,291	-3,786	-3,382	12,576	-1,835	-1,835	8,433	20,376	17,947	17,947	-1,492	-18,848	-6,207	-6,207	-1,191	-10,644	-1,515	-463	-4,965	1,717	-15,545	-15,545	-9,532	-24,312	-1,192	-1,192	6,174	-9,011	40,983	-13,842	-6,335	-64,072	-16,119	-16,119	4,157	-24,116	34,985	35,006	-25,987	-80,068	56,924	-48,440	5,186	-21,518	88,486	-21,518	-34,227	-16,076	-50,804	-50,804	-21,395	-40,602	-82,678	-82,678	-25,518	-19,100	0	0	0	-	0
Change Receivables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Change To Account Receivables	0	0	0	0	-9,033	-9,033	0	0	-4,073	-4,073	-4,073	-4,073	-2,352	-2,352	-2,352	-2,352	0	0	1,190	-733	0	-1,108	8,525	8,714	3,927	-1,216	793	-3,553	6,085	1,296	2,306	-5,488	14,461	498	1,360	-800	-24,943	3,879	-3,611	5,852	44,136	3,443	47,503	0	0	0	0	0	31,898	0	0	0	18,030	0	0	0	4,166	0	0	0	0	0	0	0	21,203	0	0	0	3,980	0	0	0	47,555	0	0	0	0	0	0	0	0	0	-	0
Change To Inventory	0	0	0	0	-6,271	-6,271	0	0	-1,315	-1,315	-1,315	-1,315	-873	-873	-873	-873	0	0	806	654	0	-1,598	0	-920	-42	-773	844	-795	-27	-248	-267	273	-2,529	833	-1,228	-2,365	-320	-1,240	2,334	-1,283	-3,656	-2,887	0	0	0	0	0	0	0	0	0	0	0	0	0	0	158	0	0	0	15	0	0	0	64	0	0	0	352	0	0	0	3,191	0	0	0	0	0	0	0	0	0	-	0
Change To Liabilities	0	0	0	0	6,118	0	0	0	447	0	0	0	-2,198	0	0	0	1,905	0	-1,771	1,366	0	4,989	0	0	-1,470	0	0	0	1,440	0	0	238	1,071	0	0	0	3,263	0	0	1,215	2,318	0	0	0	3,980	0	0	0	2,821	0	0	0	0	0	0	0	0	0	0	0	887	0	0	0	5,274	0	0	0	31	0	0	0	0	0	0	0	1,930	0	0	0	0	0	-	0
Change To Netincome	0	-53,611	96,570	96,570	13,628	-17,561	-18,833	-10,202	-33,324	8,422	11,651	268	188,197	28,159	26,693	115,591	26,141	22,106	-6,591	-13,442	0	0	0	0	-23,059	0	0	0	-18,149	0	0	0	-42,508	0	0	0	-47,618	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Change To Operating Activities	0	0	-13,268	-13,268	-3,807	-11,039	-11,039	-7,382	-891	82	-4,673	-789	20,723	20,723	-15,202	15,202	-980	18,019	-7,836	-4,584	0	0	0	0	1,317	-1,278	11,245	2,300	2,181	16,411	0	0	-715	0	0	0	-1,104	0	0	0	46,202	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	58,083	57,231	52,564	52,487	50,866	50,333	49,632	47,487	45,593	38,623	35,459	32,031	31,904	31,843	32,440	30,773	30,973	33,387	33,095	29,470	35,229	26,915	26,664	22,334	24,234	22,137	23,828	26,046	26,046	24,251	26,085	24,246	24,246	19,855	20,433	21,078	21,078	17,231	18,824	15,111	18,099	14,707	16,388	15,092	15,092	16,406	14,288	12,133	12,133	13,475	12,969	11,352	7,852	8,768	8,478	11,080	11,080	8,706	7,466	8,491	9,154	7,997	8,503	6,161	38,718	-6,771	28,326	-2,900	28,326	-4,519	-4,310	51,613	51,613	-8,192	-6,580	72,674	72,674	-9,688	10,100	0	0	0	-	0
Dividends Paid	31,699	30,431	30,431	30,431	29,163	29,161	27,893	25,357	22,821	19,018	18,259	17,454	17,224	27,283	27,216	37,671	37,669	37,665	37,662	37,663	37,663	37,681	37,663	36,254	36,026	32,727	42,077	42,078	42,078	42,077	42,077	42,056	42,056	41,122	40,188	38,292	38,292	38,288	38,248	37,314	36,371	36,371	36,371	66,475	66,475	30,898	30,898	30,858	30,858	30,859	30,859	30,068	28,485	27,694	26,111	10,711	10,711	11,391	9,819	43,646	122,937	42,192	40,737	40,008	39,997	40,055	24,628	39,282	24,628	38,771	49,352	97,563	97,563	40,999	161,038	21,383	21,383	52,379	9,400	0	0	0	-	0
End Period Cash Flow	165,492	118,028	201,466	185,193	188,362	178,682	229,530	156,185	153,960	256,273	377,718	224,014	224,398	214,442	160,118	217,941	203,016	138,332	212,400	154,077	212,394	143,989	144,787	139,991	153,052	245,782	248,999	62,382	62,382	63,420	82,016	70,175	70,175	60,283	61,571	50,818	50,818	32,623	49,480	36,982	58,641	59,031	41,023	60,542	60,542	66,818	100,788	94,915	94,915	81,236	88,501	90,109	86,967	66,812	54,585	84,186	84,186	92,854	61,367	50,070	46,075	118,658	86,422	100,735	78,255	45,426	64,569	146,435	64,569	31,621	33,347	32,857	32,857	68,944	49,845	29,193	29,193	63,369	41,400	138,800	0	0	-	0
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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Free Cash Flow	17,299	-34,409	38,718	57,063	-119,972	-99,249	77,083	-105,236	-55,298	-334,239	46,355	55,155	76,304	63,007	-33,970	51,118	48,109	49,394	54,649	47,236	-361,416	-158,289	-466,884	49,972	44,692	-37,247	54,423	44,418	44,418	50,478	-12,691	-5,001	-5,001	-203,933	-5,477	-37,439	-37,439	-75,326	-54,255	-64,166	-8,377	6,960	-18,058	-81,752	-81,752	-47,385	4,569	2,297	2,297	-4,331	23,412	-115,720	-84,978	13,312	-29,160	-35,274	-35,274	26,487	1,180	61,661	147,013	14,228	-12,252	-20,198	109,274	-206,300	-296,238	-70,749	-296,238	28,966	1,564	-223,579	-223,579	40,525	3,528	21,584	21,584	47,421	27,100	1,418,956	0	0	-	0
Investments	-60,230	-8,120	-51,857	16,313	-211,098	3,529	5,269	1,308	736	8,670	67	-8,624	102,319	140,278	-23,554	7,876	-49,284	-135,325	7,593	17,066	0	0	0	0	27,913	0	0	0	4,922	0	0	0	310,687	0	0	0	85,243	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	5,852	81,531	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-59,655	-59,655	-59,655	144,082	82,812	-52,635	122,822	-120,911	134,277	46,697	-38,749	-203,064	-133,068	-48,851	22,457	93,661	22,219	33,028	-43,077	0	0	0	0	49,071	0	0	0	-104,200	0	0	0	135,812	0	0	0	41,587	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	31,368	29,305	16,932	6,332	48,454	49,885	57,408	47,021	80,120	33,214	19,527	31,482	-165,225	15,956	11,898	-87,054	23,642	3,822	28,121	33,592	3,470	29,731	15,766	24,655	20,085	28,731	20,111	28,529	28,529	32,266	38,812	54,293	54,293	45,486	67,943	25,137	25,137	34,586	22,359	40,733	18,302	13,462	25,064	51,099	51,099	34,559	61,226	3,333	3,333	-1,343	41,468	45,773	-7,799	34,629	43,611	62,433	62,433	49,736	53,543	42,655	3,082	47,438	71,281	59,810	52,361	20,568	57,806	55,281	57,806	45,723	43,418	83,073	83,073	65,266	31,242	103,532	103,532	52,815	53,156	44,116	52,927	52,927	114,479	114,479
Other Cashflows From Financing Activities	116,745	-11,100	-5,429	279,010	359,601	339,568	48,376	204,908	69,033	-2,735	-3,127	-446	-506	-47	-18,775	120,562	182,060	58,332	112,812	61,201	910,264	304,171	528,411	18,978	-30,219	75,179	206,404	-4,861	-4,861	-19	69,414	67,816	67,816	392,966	-2,594	-2,422	-2,422	-2,783	-439	-1,815	127,968	62,585	-511	-2,428	-2,428	-116	23,289	107,836	107,836	31,140	45,732	206,062	137,174	32,373	-322	-22,028	-105,314	-323	-18,547	44,333	229,233	208,775	50,536	76,223	56,794	225,552	241,237	124,991	241,237	29,823	36,130	-143,577	51,549	149,039	336,231	-30,941	-30,941	22,723	-601,600	556,321	0	0	-	0
Other Cashflows From Investing Activities	0	157,133	99,637	40,306	103,411	-6,347	-11,438	10,380	-440	-1,180	440	-787	16,316	16,316	61,737	-61,737	-197,155	-71,185	36,200	17,324	271,139	88,115	30,169	17,528	98,097	59,055	47,026	7,140	197,131	17,030	0	4,689	-19,808	11,798	0	0	199,429	116,842	90,746	59,135	83,583	40,366	40,366	0	100,733	0	24,008	0	0	0	0	0	0	0	0	0	0	0	0	0	1,845	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	46,884	0	0	0	0	-	0
Other Non Cash Items	8,714	-2,006	-3,061	8,969	-2,054	-9,264	-16,031	-5,619	-33,324	5,222	11,651	268	201,006	19,706	22,337	115,591	11,192	22,106	1,885	-11,209	17,850	-2,671	1,080	-5,308	4,159	-15,529	-891	-2,537	-2,537	-8,801	-4,202	-7,790	-7,790	2,229	-31,490	-3,413	-3,413	-11,898	-10,523	-17,268	-11,793	-3,448	-14,947	-329	-329	-21,341	-706	18,006	18,006	29,743	-65	31,214	28,001	37,141	-130	-44,895	-46,030	36,165	-12,877	-736	29,649	-1,057	30,142	-32,216	-1,202	-1,004	-28,878	-28,752	-28,878	21,989	-21,468	-47,778	-47,778	4,846	19,468	-71,944	-71,944	29,812	-17,056	0	0	0	-	0
Sale Purchase Of Stock	205,848	-5,339	-4,835	-82,861	0	0	0	0	89,280	264,000	201,000	51,000	50,000	15,127	225,000	0	0	0	0	0	0	0	0	0	88	0	0	244,998	244,998	0	0	207,441	675	0	2,058	121,150	121,150	215,150	204,081	192,055	0	0	129,299	185,475	185,475	4,577	0	0	0	0	0	0	0	0	0	0	0	0	90,000	0	0	0	0	0	0	0	0	0	0	0	0	-27,209	-27,209	-1,874	0	0	0	0	0	0	0	0	-	0
Stock Based Compensation	0	0	0	0	1,400	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	117	117	0	170	156	0	303	478	228	0	-277	571	458	0	417	265	285	0	403	328	393	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Total Cash From Financing Activities	26,774	-106,525	-81,776	-100,538	112,275	51,219	-80,902	95,773	-145,449	118,376	106,842	-54,752	-174,436	-157,930	-82,183	-16,883	55,572	-16,077	-4,760	-123,939	291,849	95,784	452,861	-115,563	-153,129	-4,353	82,399	-50,852	-50,852	-111,184	4,225	-147,054	-147,054	285,305	-128,548	-54,582	-54,582	18,561	75	-82,337	-66,488	-18,844	151,329	-4,263	-4,263	-82,054	-44,679	-143,699	-143,699	-35,246	-49,625	78,719	57,511	-45,911	-78,103	-82,609	-82,609	-199,909	-108,221	-120,740	158,121	123,814	-44,874	-46,682	-37,467	139,320	136,673	-36,640	136,673	-46,625	-43,228	-96,340	-96,340	-81,005	80,599	-75,149	-75,149	-81,529	-611,000	551,350	0	0	-	0
Total Cash From Operating Activities	80,920	31,207	149,906	81,056	108,503	79,915	85,200	81,507	91,498	77,141	61,964	62,992	82,073	71,976	47,914	74,512	58,396	77,334	55,490	48,556	55,271	51,711	44,132	49,972	44,692	31,957	55,624	50,203	50,203	56,149	81,071	88,696	88,696	66,078	38,038	36,595	36,595	38,728	20,016	37,061	24,145	19,756	28,222	18,319	18,319	20,092	17,871	32,280	32,280	37,829	23,412	70,140	14,212	36,426	-29,160	12,499	12,499	31,176	9,319	72,528	76,891	32,111	18,331	84,053	41,437	17,979	35,736	112,115	35,736	28,966	1,564	36,104	36,104	40,525	3,528	21,584	21,584	47,421	27,100	82,446	0	0	-	0
Total Cashflows From Investing Activities	0	-43,664	-35,544	16,313	-499,088	-181,982	69,047	-175,055	-48,362	-316,962	-15,102	-8,624	102,319	140,278	-23,554	-42,704	-69,657	-100,224	35,101	17,066	-866,564	0	0	52,530	48,362	32,655	63,476	14,054	39,399	39,788	3,349	91,055	-205,782	0	78,638	0	-21,940	0	16,024	23,617	-73,982	0	0	70,317	34,309	0	26,650	10,639	0	0	0	0	76,977	128,545	106,833	48,625	424,068	362,626	162,406	52,207	0	0	0	0	0	0	0	6,391	0	28,755	12,822	26,283	0	0	0	0	76,948	57,559	0	0	0	0	-	0

Income Statement

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31
Cost Of Revenue	507,818	392,970	295,062	266,922	250,815	232,627	219,944	230,309	198,911	186,863	163,970	150,516	81,063	81,021	91,494	100,447	119,693	119,693	113,840	106,483	230,522	0	0
Depreciation And Amortization	214,062	205,480	119,167	126,960	129,769	115,518	95,914	103,941	78,080	76,683	58,436	58,819	54,243	36,297	35,743	31,815	14,490	14,490	19,907	34,617	106,015	96,773	-18,708
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
Ebit	229,361	275,474	242,838	201,371	226,865	199,316	187,585	212,099	184,146	195,692	143,022	225,034	215,157	283,365	162,607	392,278	158,215	158,215	169,346	231,806	103,047	106,401	230,718
Ebitda	443,423	480,954	362,005	328,331	356,634	314,834	283,499	316,040	262,226	272,375	201,458	283,853	269,400	319,662	198,350	424,093	172,705	172,705	189,253	266,423	209,062	203,174	212,010
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
Extraordinary Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	24,472
Gross Profit	244,468	277,423	218,334	204,125	208,034	186,085	160,934	182,642	207,829	140,624	106,890	169,176	214,051	255,143	278,447	375,276	304,965	304,965	323,670	385,586	464,546	365,174	486,655
Income Before Tax	87,260	202,768	164,343	-224,425	89,177	73,622	101,209	146,406	200,832	122,815	89,206	185,836	131,175	165,712	309,433	282,526	164,465	164,465	186,822	240,674	364,063	65,781	187,538
Income Tax Expense	3,323	72,706	87,874	121,648	145,944	133,113	53,417	21,683	59,836	71,540	53,816	37,294	101,429	46,133	43,422	155,791	-22,583	-22,583	-40,200	-30,853	14,004	68,067	18,708
Interest Expense	167,010	110,129	90,385	126,402	136,974	103,698	81,401	60,871	58,970	74,810	75,920	88,985	96,247	101,432	117,075	127,192	0	0	0	0	0	0	0
Interest Income	17,407	64,358	7,450	13,400	30,017	41,224	43,239	20,108	56,896	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	83,937	130,062	76,469	-346,073	-56,767	73,622	101,209	146,406	200,832	122,815	89,206	185,836	131,175	165,712	192,598	181,611	180,798	180,798	209,546	262,659	334,812	18,024	212,010
Net Income Applicable To Common Shares	0	202,768	164,343	-224,425	89,177	73,622	101,209	146,406	200,832	122,815	89,206	185,836	131,175	165,712	192,598	181,611	167,707	180,798	209,546	262,659	0	0	0
Net Income From Continuing Ops	101,023	202,768	164,343	-224,425	89,177	73,622	101,209	146,406	208,196	146,746	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income	-150,191	-85,362	-82,935	-113,002	-124,995	-95,935	-71,084	-50,107	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
Non Recurring	0	0	0	0	0	0	0	5,314	42,410	11,800	0	0	0	0	0	0	0	0	0	0	0	0	0
Operating Income	229,361	275,474	242,838	201,371	226,865	117,615	154,626	168,089	166,046	145,146	117,366	207,620	162,705	211,845	209,264	337,402	293,697	293,697	300,662	347,157	348,816	86,091	230,718
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
Other Operating Expenses	522,925	408,147	308,036	278,322	261,018	241,794	227,376	239,381	205,648	194,472	171,519	159,458	140,877	124,319	133,921	138,321	260,460	260,460	250,688	251,395	576,774	279,083	255,937
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	214,062	198,318	151,706	111,279	116,381	104,079	88,150	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	458	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	15,565	15,177	12,974	11,400	10,203	9,167	7,432	9,072	6,737	7,609	7,549	8,942	9,885	9,097	12,191	9,836	7,783	6,584	2,447	3,812	0	0	0
Tax Provision	3,323	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	15,107	15,177	12,974	11,400	10,203	9,167	7,432	9,072	6,737	7,609	7,549	8,942	59,814	43,298	42,427	37,874	140,767	140,767	136,848	144,912	346,252	279,083	255,937
Total Other Income Expense Net	-142,101	-72,706	-78,495	-425,796	-137,688	-17,549	9,778	11,971	19,568	24,159	47,010	87,413	63,167	34,192	73,413	-54,876	6,250	6,250	17,476	8,868	15,247	-20,310	0
Total Revenue	752,286	670,393	513,396	471,047	458,849	418,712	380,878	412,951	406,740	327,487	270,860	319,692	295,114	336,164	369,941	475,723	424,658	424,658	437,510	492,069	695,068	365,174	486,655

	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	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31
Cost Of Revenue	132,771	138,371	115,675	121,001	120,056	98,250	86,442	88,222	85,063	77,729	67,398	64,872	65,906	66,954	66,499	67,563	63,282	63,373	62,253	61,907	64,628	59,997	54,971	53,031	55,737	54,733	54,492	56,739	56,739	58,452	57,542	55,069	55,069	54,070	43,833	49,659	49,659	47,801	45,398	44,004	46,451	41,953	38,202	38,969	38,969	25,364	23,142	20,894	20,894	19,849	19,893	20,427	20,597	19,606	19,781	22,005	22,005	22,404	23,438	23,646	25,505	24,952	24,672	25,318	26,405	25,930	30,648	29,332	30,648	30,625	30,166	28,111	28,111	32,569	27,345	24,720	24,720	24,414	28,674	32,812	0	0	0	0
Depreciation And Amortization	58,083	57,231	52,564	51,909	52,796	50,333	41,217	48,110	45,593	38,623	35,459	32,031	31,904	31,843	32,440	30,773	30,973	33,387	33,095	29,470	35,229	26,915	26,664	22,334	24,234	22,137	23,828	26,046	26,046	24,251	26,085	24,246	24,246	19,855	20,433	21,078	21,078	17,231	18,824	15,111	18,099	14,707	16,388	15,092	15,092	16,406	14,288	12,133	12,133	13,475	12,969	11,352	7,852	8,768	8,478	11,080	7,638	8,706	7,466	8,491	9,154	7,997	8,503	6,161	38,718	-6,771	28,326	-2,900	28,326	-4,519	-4,310	51,613	51,613	-8,192	-6,580	72,674	72,674	-9,688	10,893	-56,601	0	0	-	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	73,009	69,233	51,442	49,937	74,380	13,315	76,306	59,328	64,160	13,477	46,014	44,283	46,938	13,730	54,402	55,800	61,411	52,977	53,652	58,739	57,461	57,783	45,060	41,813	44,952	42,833	46,770	49,605	49,605	41,308	53,669	71,795	71,795	70,359	62,457	54,738	54,738	48,738	42,721	49,495	34,312	35,376	37,591	52,232	52,232	20,206	77,445	56,979	56,979	56,243	64,329	37,834	40,118	46,982	50,542	-2,906	72,188	48,605	45,836	70,670	110,689	90,791	93,693	90,300	-22,277	87,095	-41,932	4,115	-41,932	112,448	51,387	-9,353	-9,353	83,993	80,015	8,844	8,844	115,584	62,379	166,358	0	0	0	0
Ebitda	131,092	126,464	104,006	101,846	127,176	63,648	117,523	107,438	109,753	52,100	81,473	76,314	78,842	45,573	86,842	86,573	92,384	86,364	86,747	88,209	92,690	84,698	71,724	64,147	69,186	64,970	70,598	75,651	75,651	65,559	79,754	96,041	96,041	90,214	82,890	75,816	75,816	65,969	61,545	64,606	52,411	50,083	53,979	67,324	67,324	36,612	91,733	69,112	69,112	69,718	77,298	49,186	47,970	55,750	59,020	8,174	79,826	57,311	53,302	79,161	119,843	98,788	102,196	96,461	16,441	80,324	-13,606	1,215	-13,606	107,929	47,077	42,260	42,260	75,801	73,435	81,518	81,518	105,896	73,272	109,757	0	0	-	0
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	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Profit	76,802	66,515	48,886	52,265	77,761	68,640	66,855	64,167	66,998	57,716	49,364	44,256	49,006	48,820	51,966	54,333	56,595	48,154	48,649	54,636	53,943	51,000	41,824	39,318	40,365	38,940	39,731	41,110	41,110	35,076	46,449	58,845	58,845	56,642	48,193	39,003	39,003	35,368	27,587	38,667	25,248	26,130	27,789	38,685	38,685	18,394	75,241	55,167	55,167	53,401	73,754	51,900	50,569	54,334	60,852	82,828	82,828	57,812	64,751	96,806	75,775	89,346	106,796	96,568	95,865	67,501	97,194	57,209	97,194	91,171	60,733	113,827	113,827	85,834	66,964	126,762	126,762	96,660	81,083	109,757	0	0	0	0
Income Before Tax	32,402	31,594	16,932	6,332	48,454	49,885	57,408	47,021	80,120	33,214	19,527	31,482	-165,225	15,956	11,898	-87,054	23,642	3,822	28,121	33,592	3,470	29,731	15,766	24,655	20,085	28,731	20,111	28,529	28,529	32,266	38,812	54,293	54,293	45,486	67,943	25,137	25,137	34,586	22,359	40,733	18,302	13,462	25,064	51,099	51,099	34,559	61,226	30,156	30,156	27,450	41,468	51,746	1,800	46,642	68,033	89,635	62,433	64,375	82,840	75,042	13,097	76,906	100,074	92,463	-21,681	45,862	-38,501	64,938	-38,501	70,332	64,200	-4,083	-4,083	89,602	55,229	125,953	125,953	77,101	69,433	44,116	52,927	52,927	114,479	114,479
Income Tax Expense	1,034	2,289	38,833	-1,831	25,926	15,575	-14,390	12,307	22,726	21,532	23,654	10,583	211,551	30,189	37,510	137,875	37,769	49,155	25,531	25,147	48,424	28,052	29,294	17,158	18,556	14,102	18,570	21,076	21,076	9,042	5,636	17,502	17,502	13,101	-5,486	29,601	29,601	14,152	20,362	5,903	16,010	21,914	12,527	6,782	6,782	-31,880	5,160	26,823	26,823	28,793	22,861	5,973	9,599	12,353	6,931	9,737	0	14,639	1,318	19,956	62,587	32,865	25,486	34,853	-74,457	39,375	-97,199	-23,821	-97,199	40,600	7,969	-89,791	-89,791	14,839	30,675	17,108	17,108	34,836	9,223	56,601	0	0	0	0
Interest Expense	42,280	40,107	39,884	44,858	34,828	27,841	24,873	22,587	22,809	23,221	22,485	21,869	31,706	28,044	32,428	34,224	34,844	34,149	33,676	34,305	31,040	30,157	23,957	20,860	20,093	21,695	20,871	16,497	16,497	14,763	14,730	14,795	14,795	14,525	14,474	19,001	19,001	18,660	19,221	17,928	18,595	18,444	18,281	22,354	22,354	26,403	21,635	28,078	28,078	25,603	25,048	24,649	25,331	24,875	24,168	27,265	27,265	27,976	29,361	32,473	33,885	29,966	29,871	33,470	34,680	26,534	37,125	32,062	32,689	27,365	27,136	26,399	27,693	25,384	24,554	34,303	22,795	24,285	23,489	25,440	8,093	8,093	9,466	9,466
Interest Income	5,049	6,556	7,059	3,205	25,526	11,213	1,799	1,146	1,380	19,697	2,296	2,038	1,565	29,510	5,797	64,215	5,900	13,319	9,600	17,609	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	31,368	29,305	16,932	6,332	22,528	34,310	57,408	34,714	80,120	33,214	19,527	31,482	-165,225	15,956	11,898	-87,054	23,642	3,822	28,121	33,592	3,470	29,731	15,766	24,655	20,085	28,731	20,111	28,529	28,529	32,266	38,812	54,293	54,293	45,486	67,943	25,137	25,137	34,586	22,359	40,733	18,302	13,462	25,064	51,099	51,099	34,559	61,226	30,156	30,156	27,450	41,468	32,101	30,519	34,629	43,611	62,433	62,433	33,966	53,542	42,655	3,082	47,438	71,281	59,810	52,361	20,565	57,806	55,281	57,806	45,723	43,418	83,073	83,073	65,266	31,242	103,532	103,532	52,816	53,156	53,156	0	0	0	0
Net Income Applicable To Common Shares	0	29,305	16,932	6,332	48,454	49,885	57,408	47,021	80,120	33,214	19,527	31,482	-165,225	15,956	11,898	-87,054	23,642	3,822	28,121	33,592	3,470	29,731	15,766	24,655	20,085	28,731	20,111	32,282	28,529	32,266	38,812	46,799	54,293	45,486	67,943	33,110	25,137	34,586	22,359	40,733	18,302	13,462	25,064	32,378	51,099	34,559	61,226	38,952	30,156	27,450	41,468	32,101	30,519	34,629	43,611	56,953	62,433	33,967	53,542	42,656	3,082	47,438	71,281	59,810	52,361	20,568	39,497	55,281	57,806	45,723	43,418	33,851	83,073	65,266	31,242	29,965	103,532	52,815	62,196	44,116	0	0	0	0
Net Income From Continuing Ops	31,368	29,305	16,932	6,332	48,454	49,885	57,408	47,021	80,120	33,214	19,527	31,482	-165,225	15,956	11,898	-87,054	23,642	3,822	28,121	33,592	0	0	0	0	102,333	0	0	0	146,239	0	0	0	208,196	0	0	0	146,746	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Interest Income	-37,442	-34,768	-32,825	-41,653	-31,317	-20,555	-23,873	-21,441	-21,429	-21,486	-20,189	-19,831	-30,141	-26,803	-33,202	-29,785	-29,785	-29,434	-28,417	-31,507	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	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	5,314	0	0	0	42,410	0	0	0	11,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	73,009	65,384	51,854	49,937	74,380	13,315	76,306	59,328	102,846	54,746	43,181	42,065	-206,312	46,145	49,408	-27,415	20,216	20,181	46,093	51,287	21,978	43,054	17,222	35,361	38,641	37,583	38,681	33,747	33,747	32,660	44,448	48,539	48,539	58,587	16,720	29,259	29,259	38,455	30,796	46,636	23,398	24,342	25,845	57,881	57,881	35,133	66,386	42,017	42,017	38,015	38,746	38,074	38,705	44,187	50,075	72,170	72,188	46,144	28,104	62,611	65,669	80,303	96,767	94,663	91,496	59,940	90,106	82,958	90,106	86,323	65,149	107,122	107,122	80,105	61,917	120,640	120,640	87,652	69,433	109,757	369,929	0	0	0
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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	136,564	141,696	119,127	125,996	123,437	101,899	90,219	93,061	88,564	79,804	71,654	67,063	68,586	68,488	69,100	71,075	65,520	65,433	64,809	65,256	66,677	61,958	57,599	55,560	57,461	56,435	56,347	58,788	58,788	60,687	59,543	56,226	56,226	55,503	46,145	51,433	51,433	49,618	47,234	46,187	48,301	43,741	40,146	41,310	41,310	41,079	38,947	36,381	36,381	35,235	35,008	34,253	32,461	29,753	30,558	32,645	32,645	34,091	33,329	34,195	35,611	33,995	34,701	34,014	144,366	33,491	167,235	55,081	167,235	35,473	34,582	148,656	148,656	38,298	32,392	137,325	137,325	33,422	40,324	0	0	0	0	0
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Reconciled Depreciation	0	57,231	52,564	52,487	50,866	50,333	49,632	47,487	45,593	38,623	35,459	32,031	31,904	31,843	32,440	30,773	30,973	33,387	33,095	29,470	35,229	26,915	26,664	22,334	24,234	22,137	23,828	21,562	26,046	24,251	26,085	22,694	24,246	19,855	20,433	18,479	21,078	17,231	18,824	15,111	18,099	14,707	16,388	15,946	15,092	16,406	14,288	15,019	12,133	13,475	12,969	11,352	7,852	8,768	8,478	11,080	7,638	8,706	7,466	8,491	9,154	7,997	8,503	6,161	38,718	-6,771	-5,053	-2,900	28,326	-4,519	-4,310	-5,007	51,613	-8,192	-6,580	-16,934	72,674	-9,688	10,893	0	0	0	-	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 General Administrative	3,793	3,325	3,452	4,995	3,381	3,180	3,777	4,839	3,501	3,026	4,256	2,191	2,680	2,675	2,533	3,512	2,238	2,060	2,556	3,349	2,049	1,961	2,628	2,529	1,724	1,702	1,855	2,049	2,049	2,235	2,001	1,157	1,157	1,433	2,312	1,774	1,774	1,817	1,836	2,183	1,850	1,788	1,944	2,341	2,341	2,132	2,272	2,197	1,897	2,406	22,459	3,016	2,222	1,628	2,634	3,001	3,001	4,072	2,358	2,995	2,584	1,720	2,835	2,697	2,580	1,482	1,706	2,017	3,906	1,220	937	521	826	536	217	868	983	1,315	757	486	0	0	0	0
Tax Provision	1,034	2,289	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	3,793	3,325	3,452	4,995	3,381	3,649	3,777	4,839	3,501	2,075	4,256	2,191	2,680	1,534	2,601	3,512	2,238	2,060	2,556	3,349	2,049	1,961	2,628	2,529	1,724	1,702	1,855	2,049	2,049	2,235	2,001	1,157	1,157	1,433	2,312	1,774	1,774	1,817	1,836	2,183	1,850	1,788	1,944	2,341	2,341	15,715	15,805	15,487	15,487	15,386	35,008	13,826	11,864	10,147	10,777	10,640	10,640	11,687	9,891	34,195	10,106	9,043	10,029	8,696	117,961	7,561	136,587	25,749	136,587	4,848	4,416	120,545	120,545	5,729	5,047	112,605	112,605	9,008	11,650	0	0	0	0	0
Total Other Income Expense Net	-40,607	3,172	4,323	-43,605	-25,926	36,570	-18,898	-12,307	38,052	4,260	-5,392	9,248	-181,410	-4,527	-4,265	-108,090	-930	-12,838	10,445	13,812	-23,104	6,794	-3,797	6,546	-2,990	11,393	625	-383	-383	11,873	6,560	2,416	2,416	-2,267	28,624	-3,189	-3,189	13,514	4,149	15,149	5,374	3,108	10,060	29,855	29,855	51,424	16,635	18,361	18,361	8,782	21,736	13,672	-38,318	-340	17,491	17,465	17,465	15,770	27,980	12,431	-52,572	-3,397	3,307	-2,200	415	-14,078	892	33,478	892	-15,991	12,813	2,635	2,635	9,497	-6,688	5,313	5,313	-10,551	7,054	0	0	0	0	0
Total Revenue	209,573	204,886	164,561	173,266	197,817	166,890	153,297	152,389	152,061	135,445	116,762	109,128	114,912	115,774	118,465	121,896	119,877	111,527	110,902	116,543	118,571	110,997	96,795	92,349	96,102	93,673	94,223	97,849	97,849	93,528	103,991	113,914	113,914	110,712	92,026	88,662	88,662	83,169	72,985	82,671	71,699	68,083	65,991	77,654	77,654	43,758	98,383	76,061	76,061	73,250	73,754	72,327	71,166	73,940	80,633	104,833	104,833	80,216	88,189	96,806	101,280	114,298	131,468	121,886	122,270	93,431	127,842	86,541	127,842	121,796	90,899	141,938	141,938	118,403	94,309	151,482	151,482	121,074	109,757	109,757	152,532	150,332	210,780	210,780

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

Gross Profit (+$)
totalRevenue	752,286
Cost of Revenue	-507,818
Gross Profit	244,468	244,468

Operating Income (+$)
Gross Profit	244,468
Operating Expense	-15,107
Operating Income	229,361	229,361

Operating Expense (+$)
Research Development	0
Selling General Administrative	15,565
Selling And Marketing Expenses	458
Operating Expense	15,107	16,023

Net Interest Income (+$)
Interest Income	17,407
Interest Expense	-167,010
Other Finance Cost	-588
Net Interest Income	-150,191

Pretax Income (+$)
Operating Income	229,361
Net Interest Income	-150,191
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	87,260	371,462 EBIT - interestExpense = 62,351 87,260 250,947
Interest Expense	167,010
Earnings Before Interest and Taxes (EBIT)	229,361	254,270
Earnings Before Interest and Taxes (EBITDA)	443,423

After tax Income (+$)
Income Before Tax	87,260
Tax Provision	-3,323
Net Income From Continuing Ops	101,023	83,937
Net Income	83,937
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	522,925
Total Other Income/Expenses Net	-142,101	150,191

Technical Analysis of SFL Corporation Ltd
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 SFL Corporation Ltd. The general trend of SFL Corporation Ltd is BULLISH with 57.1% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine SFL Corporation Ltd's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

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

Indicator zone transitions	Bullish trend (57.1%)		Bearish trend (-57.1%)
Overbought to neutral	Bullish pullback	=	Bearish reversal
Upper to lower neutral	Bullish correction	=	Bearish continuation
Nuetral to oversold	Oversold	=	Oversold
Oversold to neutral	Bullish reversal	=	Bearish correction
Lower to upper neutral	Bullish continuation	=	Bearish pullback
Nuetral to overbought	Overbought	=	Overbought

1. Price Targets

1.1 Support & Resistance

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

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

Score

Let's take a look at the Support & Resistance of SFL Corporation Ltd.

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

Around resistance: The price is trading arround resistance levels. This can be considered as a potential exit level. -1

The bullish price targets are: 12.71 < 13.45 < 13.46.

The bearish price targets are: 12.41 > 12.12 > 11.45.

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SFL Corporation Ltd 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 SFL Corporation Ltd. The current mas is .

The long score for the Moving Averages is 11/14.
The longshort score for the Moving Averages is 8/(-14 +14).

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

Directionalities and relatives.

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

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

Shows the moving average of the selected period.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

There are various kinds of moving averages:

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

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

Simple moving average

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

Source: Tradingview.com

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

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

Exponential moving average

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

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

Where:

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

Smoothed moving average

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

Linear weighted moving average

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

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

Where:

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

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

Source: Tradingview.com

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

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

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

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

SFL Corporation Ltd 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 SFL Corporation Ltd. The current macd is -0.08900047.

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

MACD line < signal line: The MACD line is below the signal line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the SFL Corporation Ltd price going down in the near term. -2
MACD < 0: The MACD is below the zero line (centerline), it indicates a bearish signal for SFL Corporation Ltd. 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 SFL Corporation Ltd 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

SFL Corporation Ltd 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 SFL Corporation Ltd. The current adx is 18.91.

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

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

SFL Corporation Ltd 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 SFL Corporation Ltd. The current sar is 13.04.

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

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

SFL Corporation Ltd 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 SFL Corporation Ltd. The current rsi is 41.24. The current phase is Correction in bull 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).

Correction in bull market: Moderate price decline, potential pause in the uptrend. Reassess the market, wait for signs of stabilization.
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.

SFL Corporation Ltd 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 SFL Corporation Ltd. The current phase is Oversold in bull 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 SFL Corporation Ltd price going down in the near term. -2
Trending down: The STOCH %K is trending down. -1

SFL Corporation Ltd 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 SFL Corporation Ltd. The current cci is -88.8534778.

SFL Corporation Ltd 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 SFL Corporation Ltd. The current cmo is -26.20617331.

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

SFL Corporation Ltd 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 SFL Corporation Ltd. The current willr is -81.74648971.

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

SFL Corporation Ltd 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 SFL Corporation Ltd.

SFL Corporation Ltd 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 SFL Corporation Ltd. The current atr is 0.23052711.

SFL Corporation Ltd 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 SFL Corporation Ltd. The current obv is 15,115,581.

SFL Corporation Ltd 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 SFL Corporation Ltd. The current mfi is 31.24.

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

SFL Corporation Ltd Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for SFL Corporation Ltd.

6.2. Trading Signals

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

Date	Indicator	Signal
2023-11-24	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-11-28	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-11-30	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2023-12-01	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-04	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-06	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.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2023-12-07	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2023-12-08	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2023-12-11	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2023-12-12	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2023-12-13	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2023-12-14	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
2023-12-15	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2023-12-18	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2023-12-19	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-20	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-21	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-26	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-02	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-03	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-01-04	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-01-05	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-01-08	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-09	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-01-11	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-12	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-01-17	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-22	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-24	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-25	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-26	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-29	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-30	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-31	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-02	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	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).
2024-02-05	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-02-06	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-07	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-02-08	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
2024-02-09	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-02-12	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-02-13	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-14	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-02-15	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-20	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-21	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-26	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-28	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-29	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-01	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-04	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-05	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-06	STOCH	LONG EXIT		The %K line crosses below the %D line.
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2024-03-08	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2024-03-11	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
2024-03-12	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2024-03-13	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
2024-03-14	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-03-15	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	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.
2024-03-20	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).
2024-03-21	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-22	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-26	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-03-27	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-03-28	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-02	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-04-03	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-04	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-04-05	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-04-08	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2024-04-10	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-11	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-04-12	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-04-16	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-17	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside

6.3. Candlestick Patterns

SFL Corporation Ltd Daily Candlestick Chart

Date	Candlestick Pattern

6.4. Technical Score

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

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	41.235
Ma 20	Greater than	Ma 50	12.986
Ma 50	Greater than	Ma 100	12.825
Ma 100	Greater than	Ma 200	12.068
Open	Greater than	Close	12.670
Total			4/5 (80.0%)

Create your own Symbol Scanner

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SFL Corporation Ltd Buy, Hold or Sell?

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Quick analysis of SFL Corporation Ltd (30 sec.)

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

$12.60

$7.56

$-28.31 - $-5.24

$-20.75 - $2.32

2. Growth of SFL Corporation Ltd (5 min.)

Is SFL Corporation Ltd growing?

How much money is SFL Corporation Ltd making?

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

3. Financial Health of SFL Corporation Ltd (5 min.)

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

Industry Rankings (Marine Shipping)

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

What can you expect buying and holding a share of SFL Corporation Ltd?

Speculation

Investing

How much money are you going to get?

When do you get the money?

How sure are you?

Linear %

Fundamentals of SFL Corporation Ltd

About SFL Corporation Ltd

Financial Health

Valuation

1.1. Profitability of SFL Corporation Ltd.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

Compared to industry (Marine Shipping)

1.1.2. Return on Assets

Trends

Compared to industry (Marine Shipping)

1.1.3. Return on Equity

Trends

Compared to industry (Marine Shipping)

1.2. Operating Efficiency of SFL Corporation Ltd.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

Compared to industry (Marine Shipping)

1.2.2. Operating Ratio

Trends

Compared to industry (Marine Shipping)

1.3. Liquidity of SFL Corporation Ltd.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Marine Shipping)

1.3.2. Quick Ratio

Trends

Compared to industry (Marine Shipping)

1.4. Solvency of SFL Corporation Ltd.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

Compared to industry (Marine Shipping)

1.4.2. Debt to Equity Ratio

Trends

Compared to industry (Marine Shipping)

2. Market Valuation of SFL Corporation Ltd

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Marine Shipping)

SFL Corporation Ltd
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