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

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

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

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Quick analysis of Tiptree Inc (30 sec.)

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

How much money do you get?

$0.37

When do you have the money?

1 year

How often do you get paid?

92.5%

What is your share worth?

Current worth

$15.28

Expected worth in 1 year

$16.19

How sure are you?

55.0%

+ What do you gain per year?

Total Gains per Share

$1.28

Return On Investment

7.9%

For what price can you sell your share?

Current Price per Share

$16.34

Expected price per share

$14.63 - $17.45

How sure are you?

50%

1. Valuation of Tiptree Inc (5 min.)

Live pricePrice per Share (EOD)

$16.34

Book Value per Share

$15.28

Intrinsic Value Per Share

$-95.97 - $72.21

Total Value Per Share

$-80.69 - $87.48

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

The following numbers are based on moving averages and per share and per quarter.
I use a 6% discount rate for the low estimation and 3% for the high estimation.
The current Free Cash Flow Per Share is 10Y: ($0.72) 3Y: ($1.61) TTM: ($0.39)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($0.02) 3Y: ($-0.21) TTM: ($-0.54)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$0.78	$6.56	$-0.47 - $6.83
2	$-1.56	$13.31	$-3.85 - $7.23
3	$-6.65	$20.23	$-7.22 - $7.63
4	$-14.19	$27.30	$-10.59 - $8.02
5	$-23.88	$34.52	$-13.96 - $8.42
6	$-35.45	$41.85	$-17.33 - $8.82
7	$-48.65	$49.31	$-20.70 - $9.21
8	$-63.27	$56.86	$-24.08 - $9.61
9	$-79.10	$64.49	$-27.45 - $10.01
10	$-95.97	$72.21	$-30.82 - $10.40

2. Growth of Tiptree Inc (5 min.)

Is Tiptree Inc growing?

	Current year	Previous year	Grow	Grow %
How rich?	$576.5m	$490.4m	$61.5m	11.1%

How much money is Tiptree Inc making?

	Current year	Previous year	Grow	Grow %
Making money	$6.2m	$890.2k	$5.3m	85.7%
Net Profit Margin	1.5%	0.1%	-	-

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

Quarterly Yearly

3. Financial Health of Tiptree Inc (5 min.)

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

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

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

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

Speculation

The Price per Share of Tiptree Inc is $16.34. 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 Tiptree Inc.
The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
The book value: what is the market price compared to it's book value.

Investing

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

You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is $15.28. Based on the TTM, the Book Value Change Per Share is $0.23 per quarter. Based on the YOY, the Book Value Change Per Share is $0.87 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 $0.09 per quarter.

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

How much money are you going to get?

	MRQ		TTM		YOY		5Y		10Y
	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share
Usd Eps	0.18	1.1%	0.14	0.8%	-0.06	-0.3%	0.05	0.3%	0.07	0.4%
Usd Book Value Change Per Share	0.85	5.2%	0.23	1.4%	0.87	5.3%	0.22	1.4%	0.00	0.0%
Usd Dividend Per Share	0.09	0.6%	0.09	0.6%	0.05	0.3%	0.05	0.3%	0.04	0.3%
Usd Total Gains Per Share	0.94	5.8%	0.32	2.0%	0.92	5.6%	0.27	1.7%	0.04	0.3%
Usd Price Per Share	18.96	-	16.33	-	12.02	-	10.26	-	8.48	-
Price to Earnings Ratio	26.04	-	-14.69	-	6.78	-	-12.86	-	10.86	-
Price-to-Total Gains Ratio	20.12	-	-341.04	-	-21.26	-	-114.87	-	-74.58	-
Price to Book Ratio	1.24	-	1.11	-	0.93	-	0.84	-	0.71	-
Price-to-Total Gains Ratio	20.12	-	-341.04	-	-21.26	-	-114.87	-	-74.58	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	16.335
Number of shares	61

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.09	0.05
Usd Book Value Change Per Share	0.23	0.22
Usd Total Gains Per Share	0.32	0.27
Gains per Quarter (61 shares)	19.58	16.72
Gains per Year (61 shares)	78.34	66.86

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	22	56	68	13	54	57
2	45	112	146	26	108	124
3	67	168	224	39	162	191
4	89	224	302	52	216	258
5	112	280	380	65	270	325
6	134	336	458	78	324	392
7	157	392	536	91	378	459
8	179	448	614	103	431	526
9	201	504	692	116	485	593
10	224	560	770	129	539	660

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	3.0	1.0	0.0	75.0%	8.0	4.0	0.0	66.7%	14.0	6.0	0.0	70.0%	27.0	13.0	0.0	67.5%	39.0	27.0	0.0	59.1%
Book Value Change Per Share	2.0	2.0	0.0	50.0%	6.0	6.0	0.0	50.0%	12.0	8.0	0.0	60.0%	22.0	18.0	0.0	55.0%	30.0	35.0	1.0	45.5%
Dividend per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	20.0	0.0	0.0	100.0%	37.0	0.0	3.0	92.5%	61.0	0.0	5.0	92.4%
Total Gains per Share	2.0	2.0	0.0	50.0%	6.0	6.0	0.0	50.0%	12.0	8.0	0.0	60.0%	22.0	18.0	0.0	55.0%	37.0	29.0	0.0	56.1%

Fundamentals of Tiptree Inc

About Tiptree Inc

https://www.tiptreeinc.com
1504
660 Steamboat Road, Greenwich, CT, United States, 06830
Google Maps Bing Maps

Tiptree Inc., through its subsidiaries, provides specialty insurance products and related services primarily in the United States. It operates through two segments: Insurance and Mortgage. The company offers niche; commercial lines insurance products, including professional liability, general liability, contractual liability protection, property and other short-tail, and alternative risks insurance products; and personal lines insurance products, such as credit protection surrounding loan payments. It also provides auto and consumer warranty programs, including mobile devices, consumer electronics, appliances, furniture; and vehicle service contracts, GAP, and ancillary products; as well as premium or warranty contract financing services, lead generation support, and business process outsourcing services. In addition, the company offers mortgage loans for institutional investors; asset management services; and maritime shipping and asset management services, as well as invests in shares. It markets its products through a network of independent insurance agents, consumer finance companies, online retailers, auto dealers, and regional big box retailers. The company was formerly known as Tiptree Financial Inc. and changed its name to Tiptree Inc. in December 2016. Tiptree Inc. was founded in 1978 and is headquartered in Greenwich, Connecticut.

Fundamental data was last updated by Penke on 2024-04-12 20:07:03.

Financial Health

Profitability Details

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

Operating Efficiency Details

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

Liquidity Details

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

Solvency Details

	Compared to previous year	Compared to industry
The company is just 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 expensive.
Based on how much money comes from the company's main activities, the company is expensive.

1.1. Profitability of Tiptree Inc.

1.1. Profitability

1.1.1. Net Profit Margin

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

Above 10% is considered healthy but always compare Tiptree Inc to the Insurance - Specialty industry mean.
A Net Profit Margin of 1.6% means that $0.02 for each $1 in revenue is generated as profit.

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

The MRQ is 1.6%. The company is making a profit. +1
The TTM is 1.5%. The company is making a profit. +1

Trends

Current period		Compared to		+/-
MRQ	1.6%	TTM	1.5%	+0.1%
TTM	1.5%	YOY	0.1%	+1.4%
TTM	1.5%	5Y	-0.2%	+1.7%
5Y	-0.2%	10Y	-2.2%	+2.0%

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

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

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

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

How to use net profit margin

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

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

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of Tiptree Inc. If profit margins remain low (compared to the Insurance - Specialty 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 Tiptree Inc is 0.02. This means that Tiptree Inc earned $0.02 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Net Profit Margin of the Insurance - Specialty industry is .
What is the trend?
The trend is important because it shows you how Tiptree Inc is performing over time. The most recent quarter might be important if Tiptree Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Tiptree Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

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

How to calculate net profit margin

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

Real example of Tiptree Inc

You need the following data to determine net profit margin:

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

Net income MRQ Tiptree Inc = 6,871
Total revenue MRQ Tiptree Inc = 442,220
$6,871 / $442,220 = 0.02 or 1.6%

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 Tiptree Inc is using its assets to generate profit.

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

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

The MRQ is 0.2%. Using its assets, the company is inefficient in making profit. -1
The TTM is 0.1%. Using its assets, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	0.2%	TTM	0.1%	+0.1%
TTM	0.1%	YOY	0.0%	+0.1%
TTM	0.1%	5Y	0.1%	+0.1%
5Y	0.1%	10Y	0.1%	0.0%

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

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

How to use return on assets

Higher is better.
Above 5% is considered healthy but always compare Tiptree Inc to the Insurance - Specialty 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 Tiptree Inc is using its resources to generate profit. If the return on assets (0.2%) from Tiptree Inc are higher than the Insurance - Specialty mean () that means Tiptree Inc is using its resources better than their competitors. If not, that means their competitors are more efficient in using their resources to generate profit.

An investor should always look at:

What is the current return on assets?
The current most recent quarter (MRQ) Return on Assets of Tiptree Inc is 0.2%. This means the company generated $0.00 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the Insurance - Specialty industry is .
What is the trend?
The trend is important because it shows you how Tiptree Inc is performing over time. The most recent quarter might be important if Tiptree Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Tiptree Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

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

How to calculate return on assets

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

Real example Tiptree Inc

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

Income statement
Balance sheet

Net income MRQ (income statement) from Tiptree Inc = 6,871
Total assets MRQ (balance sheet) from Tiptree Inc = 3,284,903
6,871 / 3,284,903 = 0.00 or 0.2%

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

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

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

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

1.1.3. Return on Equity

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

Above 15%-20% is considered healthy but always compare Tiptree Inc to the Insurance - Specialty industry mean.
1.6% Return on Equity means Tiptree Inc generated $0.02 for each $1 the owners (shareholders) invested.

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

The MRQ is 1.6%. Using its investors money, the company is inefficient in making profit. -1
The TTM is 1.5%. Using its investors money, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	1.6%	TTM	1.5%	+0.1%
TTM	1.5%	YOY	0.2%	+1.3%
TTM	1.5%	5Y	0.6%	+0.9%
5Y	0.6%	10Y	0.7%	-0.1%

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

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

How to use return on equity

Higher is better.
Above 15%-20% is considered healthy but always compare Tiptree Inc to the Insurance - Specialty 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 Insurance - Specialty 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 Tiptree Inc is 1.6%. This means Tiptree Inc generated $0.02 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the Insurance - Specialty industry is .
What is the trend?
The trend is important because it shows you how Tiptree Inc is performing over time. The most recent quarter might be important if Tiptree Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Tiptree Inc up to 10 years back (depending if Tiptree Inc existed 10 years ago) when you exit this learning section.

Things to be aware of

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

How to calculate return on equity

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

Real example of Tiptree Inc

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Tiptree Inc = 6,871
Shareholders equity (balance sheet) MRQ Tiptree Inc = 416,866
6,871 / 416,866 = 0.02 or 1.6%

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 Tiptree Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Tiptree Inc is operating .

Measures how much profit Tiptree Inc makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
Above 15% is considered healthy but always compare Tiptree Inc to the Insurance - Specialty industry mean.
An Operating Margin of -2.1% means the company generated $-0.02 for each $1 in revenue (before taxes).

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

The MRQ is -2.1%. The company is operating very inefficient. -2
The TTM is 2.7%. The company is operating less efficient.

Trends

Current period		Compared to		+/-
MRQ	-2.1%	TTM	2.7%	-4.8%
TTM	2.7%	YOY	3.6%	-0.9%
TTM	2.7%	5Y	2.8%	-0.1%
5Y	2.8%	10Y	11.7%	-8.9%

Measures how efficient Tiptree Inc is operating .

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

How to use operating margin

Higher is better
Above 15% is considered healthy but always compare Tiptree Inc to the Insurance - Specialty 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 Tiptree Inc is making from it’s core business.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Operating Margin of Tiptree Inc is -2.1%. This means that Tiptree Inc earned $-0.02 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Insurance - Specialty industry is .
What is the trend?
The trend is important because it shows you how Tiptree Inc is performing over time. The most recent quarter might be important if Tiptree Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Tiptree Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

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

How to calculate operating margin

Operating margin = operating earnings / total revenue

Real example of Tiptree Inc

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Tiptree Inc = -9,300
Total revenue MRQ Tiptree Inc = 442,220
$-9,300 / $442,220 = -0.02 or -2.1%

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 Tiptree Inc is keeping operating costs low.

Below 1 is considered healthy (always compare to Insurance - Specialty industry mean).
An Operation Ratio of 0.56 means that the operating costs are $0.56 for each $1 in net sales.

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

The MRQ is 0.557. The company is very efficient in keeping operating costs low. +2
The TTM is 0.097. The company is very efficient in keeping operating costs low. +2

Trends

Current period		Compared to		+/-
MRQ	0.557	TTM	0.097	+0.460
TTM	0.097	YOY	0.813	-0.716
TTM	0.097	5Y	50.725	-50.628
5Y	50.725	10Y	25.553	+25.172

Measures how efficient Tiptree Inc is keeping operating costs low.

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

How to use operating ratio

Lower is better.
Below 1 is considered healthy but always compare Tiptree Inc to the Insurance - Specialty 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 Tiptree Inc is 55.7%. This means that Tiptree Inc earned $0.56 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 Insurance - Specialty industry is .
What is the trend?
The trend is important because it shows you how Tiptree Inc is performing over time. The most recent quarter might be important if Tiptree Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Tiptree Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

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

How to calculate operating ratio

Operating ratio = Operating expenses + COGS \ Net sales

Real life example Tiptree Inc

You need the following data to determine operating ratio:

Income statement

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

(cost of revenue + total operating expenses) \ total revenue
(0 +246,269) \ 442,220 = 0.56

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 Tiptree Inc.

1.3. Liquidity

1.3.1. Current Ratio

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

Above 1.5 is considered healthy (always compare to Insurance - Specialty industry mean).
A Current Ratio of 1.03 means the company has $1.03 in assets for each $1 in short-term debts.

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

The MRQ is 1.032. The company is just able to pay all its short-term debts.
The TTM is 2.599. The company is able to pay all its short-term debts. +1

Trends

Current period		Compared to		+/-
MRQ	1.032	TTM	2.599	-1.567
TTM	2.599	YOY	3.214	-0.615
TTM	2.599	5Y	3.393	-0.794
5Y	3.393	10Y	2.094	+1.299

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

How to use current ratio

Higher is better
Above 1.5 is considered healthy (always compare to Insurance - Specialty 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 Tiptree Inc if something happens in the market that will cause sales to plummet.

The three steps every investor should look at:

What is the current current Ratio?
The current most recent quarter (MRQ) Current Ratio of Tiptree Inc is 1.03. This means Tiptree Inc has $1.03 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Insurance - Specialty industry is .
What is the trend?
The trend is important because it shows you how Tiptree Inc is performing over time. The most recent quarter might be important if Tiptree Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Tiptree Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

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

How to calculate current ratio

Current ratio = current assets \ current liabilities

Real life example Tiptree Inc

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
1,424,933 \ 1,380,635) = 1.03

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

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

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

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

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

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

1.3.2. Quick Ratio

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

Above 1 is considered healthy but always compare Tiptree Inc to the Insurance - Specialty industry mean.
A Quick Ratio of 2.29 means the company can pay off $2.29 for each $1 in debt (using most liquid assets).

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

The MRQ is 2.287. The company is very able to pay all its short-term debts with the most liquid assets. +2
The TTM is 4.058. The company is very able to pay all its short-term debts with the most liquid assets. +2

Trends

Current period		Compared to		+/-
MRQ	2.287	TTM	4.058	-1.770
TTM	4.058	YOY	5.394	-1.336
TTM	4.058	5Y	4.692	-0.635
5Y	4.692	10Y	3.546	+1.146

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

How to use quick ratio

Higher is better.
Above 1 is considered healthy but always compare Tiptree Inc to the Insurance - Specialty 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 Tiptree Inc can pay off its short term debts. This shows if Tiptree Inc can survive emergencies due to market changes or other reasons.

The three steps every investor should look at:

What is the current Quick Ratio?
The current most recent quarter (MRQ) quickRatio of Tiptree Inc is 2.29. This means that Tiptree Inc can pay off $2.29 for each $1 in debt (using most liquid assets).
How does it compare to the industry?
The mean MRQ Quick Ratio of the Insurance - Specialty industry is .
What is the trend?
The trend is important because it shows you how Tiptree Inc is performing over time. The most recent quarter might be important if Tiptree Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Tiptree Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

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

How to calculate quick ratio

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

Real life example Tiptree Inc

You need the following data to determine operating ratio:

Balance sheet
Quick ratio = cash and short-term investments + short-term investments + netReceivables / total current liabilities
MRQ quick ratio Tiptree Inc: (1,271,320 + 246,489 +1,639,769) / 1,380,635 = 2.29

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 Tiptree Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

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

Below 1 (100%) is considered healthy but always compare Tiptree Inc to Insurance - Specialty industry mean.
A Debt to Asset Ratio of 0.82 means that Tiptree Inc assets are financed with 82.4% credit (debt) and the remaining percentage (100% - 82.4%) is financed by its owners/shareholders.

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

The MRQ is 0.824. The company is just able to pay all its debts by selling its assets.
The TTM is 0.867. The company is just able to pay all its debts by selling its assets.

Trends

Current period		Compared to		+/-
MRQ	0.824	TTM	0.867	-0.043
TTM	0.867	YOY	0.873	-0.006
TTM	0.867	5Y	0.856	+0.011
5Y	0.856	10Y	0.856	0.000

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

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

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Tiptree Inc to Insurance - Specialty 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 Tiptree Inc is 0.82. This means means that Tiptree Inc is financed with 82.4% 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 Insurance - Specialty industry is .
What is the trend?
The trend is important because it shows you how Tiptree Inc is performing over time. The most recent quarter might be important if Tiptree Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Tiptree Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

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

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Tiptree Inc

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

Balance sheet
Debt to asset ratio = total debt \ total assets
2,708,338 \ 3,284,903 = 82.4% or 0.82.

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

Below 2 is considered healthy but always compare Tiptree Inc to the Insurance - Specialty industry mean.
A Debt to Equity ratio of 649.7% means that company has $6.50 debt for each $1 in shareholders equity.

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

The MRQ is 6.497. The company is unable to pay all its debts with equity. -1
The TTM is 9.221. The company is unable to pay all its debts with equity. -1

Trends

Current period		Compared to		+/-
MRQ	6.497	TTM	9.221	-2.725
TTM	9.221	YOY	8.696	+0.525
TTM	9.221	5Y	7.257	+1.965
5Y	7.257	10Y	10.861	-3.604

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

How to use debt to equity ratio

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

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

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

The three steps every investor should look at:

What is the current debt to equity ratio?
The current most recent quarter (MRQ) quickRatio of Tiptree Inc is 6.50. This means that Tiptree Inc can pay off $6.50 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Insurance - Specialty industry is .
What is the trend?
The trend is important because it shows you how Tiptree Inc is performing over time. The most recent quarter might be important if Tiptree Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Tiptree Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

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

How to calculate debt to equity ratio

Debt to equity ratio = total debt \ shareholders equity.

Real life example Tiptree Inc

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
2,708,338 \ 416,866 = 6.50 or 649.7%

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

Common shares.
Preferred shares.
Retained earnings.

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

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

2. Market Valuation of Tiptree Inc

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

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

Above 15 is considered overpriced but always compare Tiptree Inc to the Insurance - Specialty industry mean.
A PE ratio of 26.04 means the investor is paying $26.04 for every $1 in earnings.

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

The EOD is 22.433. Based on the earnings, the company is fair priced.
The MRQ is 26.038. Based on the earnings, the company is overpriced. -1
The TTM is -14.690. Based on the earnings, the company is expensive. -2

Trends

Current period		Compared to		+/-
EOD	22.433	MRQ	26.038	-3.605
MRQ	26.038	TTM	-14.690	+40.728
TTM	-14.690	YOY	6.785	-21.475
TTM	-14.690	5Y	-12.862	-1.828
5Y	-12.862	10Y	10.859	-23.721

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

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

How to use PE ratio

Above 15 is considered overpriced but is hard to determine. Always compare Tiptree Inc to the Insurance - Specialty 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 Tiptree Inc is 26.04. This means the investor is paying $26.04 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Insurance - Specialty industry is .
What is the trend?
The trend is important because it shows you how Tiptree Inc is performing over time. The most recent quarter might be important if Tiptree Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Tiptree Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

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

How to calculate PE ratio

PE ratio = market value per share \ earnings per share

Real life example Tiptree Inc

You need the following data to determine the PE ratio:

Balance sheet
Income statement

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

EPS = (net profit - preferred dividends) \ end of period outstanding shares*
Net profit = revenue - expenses
0 \ 37,744 = EPS
PE ratio MRQ = 26.04

* The net profit minus preferred dividends can be found in the incomestatement as netIncomeApplicableToCommonShares.

The PE value helps investors to determine if the current stock price is under or overvalued. It also projects future growth.

In general, a higher PE ratio means that investors predict higher future growth. If the PE ratio is too high, then investors expect way too much future growth the company can never fulfil. This is most likely to happen in faster moving companies like tech companies or automobile companies like Tesla. These are hot and booming markets where investors expect much future growth driven by new technology (electric cars). When looking at the current MRQ (most recent quarter) PE ratio of Tesla ( jan. 2021) it's about 247 while the average in the industry is only 6. That might be a clue that Tesla is trading for way too high prices compared to their current assets and is more based on future growth.

2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Tiptree Inc:

The EOD is -6.520. Based on how much money comes from the company's main activities, the company is expensive. -2
The MRQ is -7.568. Based on how much money comes from the company's main activities, the company is expensive. -2
The TTM is -2.960. Based on how much money comes from the company's main activities, the company is expensive. -2

Trends

Current period		Compared to		+/-
EOD	-6.520	MRQ	-7.568	+1.048
MRQ	-7.568	TTM	-2.960	-4.608
TTM	-2.960	YOY	1.165	-4.125
TTM	-2.960	5Y	2.274	-5.234
5Y	2.274	10Y	16.123	-13.849

2. Book Value per Share

2.3. Price to Book Ratio

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

At or below 1 is considered healthy (always compare to Insurance - Specialty industry mean).
A PB ratio of 1.24 means the investor is paying $1.24 for each $1 in book value.

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

The EOD is 1.069. Based on the equity, the company is underpriced. +1
The MRQ is 1.241. Based on the equity, the company is underpriced. +1
The TTM is 1.106. Based on the equity, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	1.069	MRQ	1.241	-0.172
MRQ	1.241	TTM	1.106	+0.135
TTM	1.106	YOY	0.926	+0.181
TTM	1.106	5Y	0.839	+0.268
5Y	0.839	10Y	0.714	+0.125

2. Total Gains per Share

3. Holders & Insider Transactions

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

3.1. Institutions holding Tiptree Inc

Institutions are holding 38.468% of the shares of Tiptree Inc.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	Dimensional Fund Advisors, Inc.	7.0192	0.0143	2580337	-27769	-1.0647
2023-12-31	BlackRock Inc	5.4776	0.001	2013628	175853	9.5688
2023-12-31	Vanguard Group Inc	3.0937	0.0005	1137294	35078	3.1825
2023-12-31	Breach Inlet Capital Management LLC	2.1369	13.4574	785536	785536	0
2023-12-31	Cannell Capital LLC	2.0191	3.0514	742250	-141834	-16.043
2023-12-31	Royce & Associates, LP	1.6735	0.1077	615187	-25773	-4.021
2023-12-31	Geode Capital Management, LLC	1.3271	0.001	487846	18556	3.9541
2023-12-31	State Street Corporation	1.2741	0.0004	468375	12335	2.7048
2023-12-31	TCW Group Inc	1.1432	0.0888	420251	0	0
2023-12-31	Cove Street Capital, LLC	1.0762	2.2944	395635	41277	11.6484
2023-12-31	Heartland Advisors Inc	0.9521	0.3468	350000	0	0
2023-12-31	Bridgeway Capital Management, LLC	0.8742	0.1307	321368	12968	4.2049
2023-12-31	Amvescap Plc.	0.7519	0.0013	276409	9328	3.4926
2023-12-31	Goldman Sachs Group Inc	0.6025	0.0004	221490	74472	50.655
2023-12-31	Northern Trust Corp	0.58	0.0007	213221	9251	4.5355
2023-12-31	Hillsdale Investment Management Inc.	0.5682	0.3233	208877	-600	-0.2864
2023-12-31	Franklin Resources Inc	0.5378	0.0018	197690	0	0
2023-09-30	Point72 Asset Management, L.P.	0.4636	0.0083	170420	-83332	-32.8399
2023-12-31	Royal Bank of Canada	0.4243	0.0007	155984	78358	100.943
2023-12-31	Empowered Funds, LLC	0.3922	0.0686	144168	12968	9.8841
Total		32.3874	19.8995	11905966	+986672	+8.3%

3.2. Funds holding Tiptree Inc

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2024-02-29	DFA US Small Cap Value I	1.8582	0.0778	683459	-13575	-1.9475
2024-02-29	Vanguard Total Stock Mkt Idx Inv	1.7718	0.0007	651681	0	0
2024-03-28	iShares Russell 2000 ETF	1.6318	0.0158	600201	288	0.048
2024-02-29	DFA US Targeted Value I	1.0603	0.0529	390003	0	0
2024-02-29	Heartland Value Investor	0.8836	0.8184	325000	25000	8.3333
2024-02-29	Vanguard Institutional Extnd Mkt Idx Tr	0.8532	0.0054	313808	2176	0.6983
2024-03-28	Invesco Dorsey Wright SmallCap Momt ETF	0.8136	0.4469	299235	0	0
2023-12-31	Royce Capital Small-Cap Inv	0.8031	1.7933	295400	-31079	-9.5194
2024-02-29	DFA US Small Cap I	0.7497	0.0311	275767	0	0
2024-02-29	DFA US Micro Cap I	0.7016	0.063	258075	0	0
2024-01-31	Fidelity Small Cap Index	0.6649	0.0187	244555	6772	2.848
2024-02-29	Franklin MicroCap Value A	0.5072	1.5843	186569	0	0
2023-12-31	Royce Pennsylvania Mutual Invmt	0.5039	0.1882	185334	-10451	-5.338
2024-03-29	Dimensional US Targeted Value ETF	0.4928	0.0312	181256	0	0
2023-12-31	Bridgeway Omni Small-Cap Value	0.4818	0.2616	177200	0	0
2023-12-31	Bridgeway Omni Small-Cap Value N	0.4818	0.2622	177200	0	0
2024-03-28	iShares Russell 2000 Value ETF	0.4515	0.0229	166076	-105	-0.0632
2024-03-28	EA Bridgeway Omni Small-Cap Value ETF	0.4238	0.2189	155893	0	0
2024-02-29	State St Russell Sm/Mid Cp® Indx NL Cl C	0.3877	0.006	142610	1300	0.92
2023-12-31	Royce Small-Cap Value Service	0.3655	1.8673	134453	15757	13.2751
Total		15.8878	7.7666	5843775	-3917	-0.1%

3.3. Insider Transactions

Insiders are holding 37.953% of the shares of Tiptree Inc.

Date	Owner	Type	Amount	Price
2024-03-05	Jonathan Ilany	BUY	2900	16.95
2024-01-08	Neil Charles Rifkind	SELL	18184	19.54
2023-06-07	Jonathan Ilany	BUY	1600	14.27

4. Summary

4.1. Key Performance Indicators

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

	End of day	+/-	Most Recent Quarter	Trailing 12 Months	+/-	Year-Over-Year	+/-	5 Year	+/-	10 Year	+/-
Book Value Change Per Share	-	-	0.851	0.229	+271%	0.870	-2%	0.221	+285%	-0.003	+100%
Book Value Per Share	-	-	15.276	14.738	+4%	13.296	+15%	11.931	+28%	11.682	+31%
Current Ratio	-	-	1.032	2.599	-60%	3.214	-68%	3.393	-70%	2.094	-51%
Debt To Asset Ratio	-	-	0.824	0.867	-5%	0.873	-6%	0.856	-4%	0.856	-4%
Debt To Equity Ratio	-	-	6.497	9.221	-30%	8.696	-25%	7.257	-10%	10.861	-40%
Dividend Per Share	-	-	0.091	0.092	0%	0.053	+74%	0.053	+72%	0.044	+106%
Eps	-	-	0.182	0.137	+33%	-0.056	+131%	0.053	+242%	0.065	+179%
Free Cash Flow Per Share	-	-	-0.626	0.387	-262%	3.071	-120%	1.168	-154%	0.724	-186%
Free Cash Flow To Equity Per Share	-	-	1.361	1.160	+17%	2.288	-41%	1.359	+0%	1.283	+6%
Gross Profit Margin	-	-	1.000	1.000	0%	1.000	0%	1.000	0%	0.525	+91%
Intrinsic Value_10Y_max	-	-	72.207	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	-95.966	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	6.562	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	0.776	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	20.229	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	-6.655	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	34.515	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	-23.879	-	-	-	-	-	-	-	-
Market Cap	600822535.500	-19%	715631112.720	611820928.098	+17%	443341257.390	+61%	379840213.448	+88%	313389801.354	+128%
Net Profit Margin	-	-	0.016	0.015	+4%	0.001	+1124%	-0.002	+113%	-0.022	+240%
Operating Margin	-	-	-0.021	0.027	-178%	0.036	-159%	0.028	-174%	0.117	-118%
Operating Ratio	-	-	0.557	0.097	+473%	0.813	-32%	50.725	-99%	25.553	-98%
Pb Ratio	1.069	-16%	1.241	1.106	+12%	0.926	+34%	0.839	+48%	0.714	+74%
Pe Ratio	22.433	-16%	26.038	-14.690	+156%	6.785	+284%	-12.862	+149%	10.859	+140%
Price Per Share	16.335	-16%	18.960	16.325	+16%	12.018	+58%	10.258	+85%	8.481	+124%
Price To Free Cash Flow Ratio	-6.520	+14%	-7.568	-2.960	-61%	1.165	-749%	2.274	-433%	16.123	-147%
Price To Total Gains Ratio	17.333	-16%	20.118	-341.041	+1795%	-21.262	+206%	-114.867	+671%	-74.582	+471%
Quick Ratio	-	-	2.287	4.058	-44%	5.394	-58%	4.692	-51%	3.546	-36%
Return On Assets	-	-	0.002	0.001	+41%	0.000	+1683%	0.001	+192%	0.001	+103%
Return On Equity	-	-	0.016	0.015	+7%	0.002	+623%	0.006	+162%	0.007	+136%
Total Gains Per Share	-	-	0.942	0.321	+194%	0.922	+2%	0.274	+244%	0.042	+2159%
Usd Book Value	-	-	576565000.000	551940750.000	+4%	490410000.000	+18%	441072400.000	+31%	431063275.000	+34%
Usd Book Value Change Per Share	-	-	0.851	0.229	+271%	0.870	-2%	0.221	+285%	-0.003	+100%
Usd Book Value Per Share	-	-	15.276	14.738	+4%	13.296	+15%	11.931	+28%	11.682	+31%
Usd Dividend Per Share	-	-	0.091	0.092	0%	0.053	+74%	0.053	+72%	0.044	+106%
Usd Eps	-	-	0.182	0.137	+33%	-0.056	+131%	0.053	+242%	0.065	+179%
Usd Free Cash Flow	-	-	-23641000.000	14355500.000	-265%	113086500.000	-121%	43000900.000	-155%	26659100.000	-189%
Usd Free Cash Flow Per Share	-	-	-0.626	0.387	-262%	3.071	-120%	1.168	-154%	0.724	-186%
Usd Free Cash Flow To Equity Per Share	-	-	1.361	1.160	+17%	2.288	-41%	1.359	+0%	1.283	+6%
Usd Market Cap	600822535.500	-19%	715631112.720	611820928.098	+17%	443341257.390	+61%	379840213.448	+88%	313389801.354	+128%
Usd Price Per Share	16.335	-16%	18.960	16.325	+16%	12.018	+58%	10.258	+85%	8.481	+124%
Usd Profit	-	-	6871000.000	6219750.000	+10%	890250.000	+672%	2788750.000	+146%	2817525.000	+144%
Usd Revenue	-	-	442220000.000	411219250.000	+8%	349438000.000	+27%	290965900.000	+52%	202813275.000	+118%
Usd Total Gains Per Share	-	-	0.942	0.321	+194%	0.922	+2%	0.274	+244%	0.042	+2159%
	EOD	+3 -5	MRQ	TTM	+23 -12	YOY	+22 -13	5Y	+26 -9	10Y	+27 -9

4.2. Fundamental Score

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

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	22.433
Price to Book Ratio (EOD)	Between	0-1	1.069
Net Profit Margin (MRQ)	Greater than	0	0.016
Operating Margin (MRQ)	Greater than	0	-0.021
Quick Ratio (MRQ)	Greater than	1	2.287
Current Ratio (MRQ)	Greater than	1	1.032
Debt to Asset Ratio (MRQ)	Less than	1	0.824
Debt to Equity Ratio (MRQ)	Less than	1	6.497
Return on Equity (MRQ)	Greater than	0.15	0.016
Return on Assets (MRQ)	Greater than	0.05	0.002
Total			4/10 (40.0%)

Create your own Stock Scanner

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4.3. Technical Score

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

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	46.320
Ma 20	Greater than	Ma 50	16.537
Ma 50	Greater than	Ma 100	16.835
Ma 100	Greater than	Ma 200	17.890
Open	Greater than	Close	15.540
Total			1/5 (20.0%)

Create your own Symbol Scanner

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

Reversals in quarterly reports

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

	2022-12-31		2023-03-31		2023-06-30		2023-09-30		2023-12-31
Other Current Liabilities	-365,725	-246,600	-612,325	-68,938	-681,263	543	-680,720	1,481,025	800,305
Current Deferred Revenue	649,150	16,363	665,513	15,750	681,263	-3,059	678,204	-875,342	-197,138
Long-term Assets Other	-751,084	-270,659	-1,021,743	-342,282	-1,364,025	1,131,759	-232,266	900,904	668,638
EBIT	3,019	11,619	14,638	-4,850	9,788	18,069	27,857	-37,157	-9,300
EBITDA	8,278	11,613	19,891	-4,228	15,663	18,541	34,204	-37,513	-3,309
Operating Income	3,019	11,619	14,638	-4,850	9,788	260,917	270,705	-280,005	-9,300

Latest Balance Sheet

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

Summary

Total Assets	3,284,903
Total Liabilities	2,708,338
Total Stockholder Equity	416,866

	As reported
Total Liabilities	2,708,338
Total Stockholder Equity	+ 416,866
Total Assets	= 3,284,903

Assets

Total Assets	3,284,903
Total Current Assets	1,424,933
Long-term Assets	1,859,970

Total Current Assets

Total Current Assets (as reported)	1,424,933
Cash And Cash Equivalents	492,561
Short-term Investments	246,489
Net Receivables	1,639,769
Inventory	-2,911,089
Other Current Assets	1,424,933
Total Current Assets (calculated)	892,663
+/-	532,270

Long-term Assets

Long-term Assets (as reported)	1,859,970
Property Plant Equipment	61,093
Goodwill	206,155
Long Term Investments	870,917
Intangible Assets	159,593
Long-term Assets Other	668,638
Long-term Assets (calculated)	1,966,396
+/-	106,426

Liabilities & Shareholders' Equity

Total Current Liabilities	1,380,635
Long-term Liabilities	1,327,703
Total Stockholder Equity	416,866

Total Current Liabilities

Total Current Liabilities (as reported)	1,380,635
Short-term Debt	197,138
Short Long Term Debt	197,138
Accounts payable	580,330
Other Current Liabilities	800,305
Total Current Liabilities (calculated)	1,774,911
+/-	394,276

Long-term Liabilities

Long-term Liabilities (as reported)	1,327,703
Long term Debt	202,456
Capital Lease Obligations	40,403
Long-term Liabilities (calculated)	242,859
+/-	1,084,844

Total Stockholder Equity

Total Stockholder Equity (as reported)	416,866
Common Stock	37
Retained Earnings	60,663
Accumulated Other Comprehensive Income	-26,073
Other Stockholders Equity	382,239
Total Stockholder Equity (calculated)	416,866
+/-	0

Other

Capital Stock	37
Cash and Short Term Investments	1,271,320
Common Stock Shares Outstanding	37,744
Current Deferred Revenue	-197,138
Liabilities and Stockholders Equity	3,284,903
Net Debt	-17,564
Net Invested Capital	816,460
Net Working Capital	44,298
Short Long Term Debt Total	474,997

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

> Total Assets

292,467
300,720
328,398
339,372
409,045
412,192
370,906
332,420
328,626
322,107
315,432
311,267
306,256
172,792
2,199
166,563
163,479
178,630
194,216
194,216
189,071
187,748
185,797
208,360
142,983
6,604,233
6,880,448
6,955,516
7,378,631
7,048,522
8,195,326
8,456,807
3,372,143
3,498,787
2,501,228
2,599,909
2,704,253
2,866,745
2,890,050
2,466,964
2,541,469
2,448,754
1,989,742
1,688,806
1,729,531
1,796,609
1,864,918
1,814,840
1,920,366
2,056,493
2,198,286
2,422,672
2,480,501
2,794,866
2,995,760
3,048,613
3,211,557
3,378,352
3,599,147
3,600,198
3,732,709
3,994,084
4,039,563
4,307,958
4,634,449
4,827,391
3,284,903

3,284,903

4,827,391

4,634,449

4,307,958

4,039,563

3,994,084

3,732,709

3,600,198

3,599,147

3,378,352

3,211,557

3,048,613

2,995,760

2,794,866

2,480,501

2,422,672

2,198,286

2,056,493

1,920,366

1,814,840

1,864,918

1,796,609

1,729,531

1,688,806

1,989,742

2,448,754

2,541,469

2,466,964

2,890,050

2,866,745

2,704,253

2,599,909

2,501,228

3,498,787

3,372,143

8,456,807

8,195,326

7,048,522

7,378,631

6,955,516

6,880,448

6,604,233

142,983

208,360

185,797

187,748

189,071

194,216

178,630

163,479

166,563

2,199

172,792

306,256

311,267

315,432

322,107

328,626

332,420

370,906

412,192

409,045

339,372

328,398

300,720

292,467

> Total Current Assets

283,691
274,326
74,252
87,476
303,630
298,917
32,845
18,240
54,308
95,037
122,689
137,325
135,598
17,047
560
8,722
13,958
8,925
52,306
52,306
53,792
46,648
46,428
28,981
72,348
123,721
146,952
161,054
144,846
196,956
81,032
74,121
200,185
132,741
88,178
65,176
71,243
88,088
133,071
135,121
115,093
135,151
142,237
100,555
109,638
979,749
1,036,526
1,038,056
1,108,660
1,167,068
1,295,110
1,346,998
1,352,520
1,502,263
1,612,514
1,615,636
1,767,109
1,983,014
2,088,371
2,251,999
2,465,737
985,473
1,652,356
1,725,064
2,867,159
1,880,847
1,424,933

1,424,933

1,880,847

2,867,159

1,725,064

1,652,356

985,473

2,465,737

2,251,999

2,088,371

1,983,014

1,767,109

1,615,636

1,612,514

1,502,263

1,352,520

1,346,998

1,295,110

1,167,068

1,108,660

1,038,056

1,036,526

979,749

109,638

100,555

142,237

135,151

115,093

135,121

133,071

88,088

71,243

65,176

88,178

132,741

200,185

74,121

81,032

196,956

144,846

161,054

146,952

123,721

72,348

28,981

46,428

46,648

53,792

52,306

8,925

13,958

8,722

560

17,047

135,598

137,325

122,689

95,037

54,308

18,240

32,845

298,917

303,630

87,476

74,252

274,326

283,691

Cash And Cash Equivalents

7,786
23,919
15,319
14,889
15,383
17,538
31,800
17,355
53,751
94,701
122,512
136,586
134,894
7,602
210
8,346
13,938
8,907
52,306
52,306
48,040
46,648
46,428
27,757
69,002
123,721
120,557
124,824
122,050
179,892
52,987
46,420
170,100
98,737
69,400
43,225
56,181
65,995
63,010
67,190
75,764
111,751
110,667
81,219
91,490
82,809
86,003
88,079
175,835
136,134
133,117
108,785
80,604
103,502
136,920
123,879
141,661
150,496
175,718
177,962
337,916
503,488
538,065
412,004
372,410
514,692
492,561

492,561

514,692

372,410

412,004

538,065

503,488

337,916

177,962

175,718

150,496

141,661

123,879

136,920

103,502

80,604

108,785

133,117

136,134

175,835

88,079

86,003

82,809

91,490

81,219

110,667

111,751

75,764

67,190

63,010

65,995

56,181

43,225

69,400

98,737

170,100

46,420

52,987

179,892

122,050

124,824

120,557

123,721

69,002

27,757

46,428

46,648

48,040

52,306

8,907

13,938

8,346

210

7,602

134,894

136,586

122,512

94,701

53,751

17,355

31,800

17,538

15,383

14,889

15,319

23,919

7,786

Short-term Investments

283,090
271,990
72,353
71,076
285,765
256,267
0
0
0
0
0
0
0
9,357
0
0
0
0
0
0
0
0
0
0
0
17,721
17,763
17,662
17,952
17,064
171,128
176,567
179,772
192,387
184,703
185,092
165,025
137,195
146,171
152,529
147,778
164,093
182,448
212,809
234,361
255,784
283,563
283,929
269,054
315,204
335,192
333,703
345,718
369,914
377,133
409,947
447,300
541,121
577,448
568,460
606,462
584,081
611,980
810,445
361,139
270,620
246,489

246,489

270,620

361,139

810,445

611,980

584,081

606,462

568,460

577,448

541,121

447,300

409,947

377,133

369,914

345,718

333,703

335,192

315,204

269,054

283,929

283,563

255,784

234,361

212,809

182,448

164,093

147,778

152,529

146,171

137,195

165,025

185,092

184,703

192,387

179,772

176,567

171,128

17,064

17,952

17,662

17,763

17,721

9,357

256,267

285,765

71,076

72,353

271,990

283,090

Net Receivables

601
2,336
1,899
1,511
1,185
1,167
1,045
885
557
336
177
59
56
88
184
376
20
18
0
0
0
0
0
1,224
3,346
58,501
40,260
42,105
55,003
32,714
351,893
387,495
425,224
470,317
528,787
543,439
537,040
545,059
471,985
484,421
524,664
530,082
553,733
581,446
583,981
630,452
656,439
652,986
663,771
715,730
826,801
904,510
926,198
1,028,847
1,098,461
1,081,810
1,178,148
1,291,397
1,335,205
1,505,577
1,521,359
1,695,775
1,678,401
1,806,555
2,133,610
1,433,555
1,639,769

1,639,769

1,433,555

2,133,610

1,806,555

1,678,401

1,695,775

1,521,359

1,505,577

1,335,205

1,291,397

1,178,148

1,081,810

1,098,461

1,028,847

926,198

904,510

826,801

715,730

663,771

652,986

656,439

630,452

583,981

581,446

553,733

530,082

524,664

484,421

471,985

545,059

537,040

543,439

528,787

470,317

425,224

387,495

351,893

32,714

55,003

42,105

40,260

58,501

3,346

1,224

376

184

177

336

557

885

1,045

1,167

1,185

1,511

1,899

2,336

601

Inventory

0
0
0
0
0
1,448
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
15,776
25,104
32,109
28,661
51,962
56,417
108,969
123,285
95,597
2,083
2,217
121,439
16,466
93,491
114,461
62,846
52,757
100
331
0
3,098
0
0
625
0
0
0
19,513
0
0
0
0
0
-892,703
-2,871,362
-2,300,353
-2,519,004
-1,416,970
-1,783,701
-2,911,089

-2,911,089

-1,783,701

-1,416,970

-2,519,004

-2,300,353

-2,871,362

-892,703

19,513

625

3,098

331

100

52,757

62,846

114,461

93,491

16,466

121,439

2,217

2,083

95,597

123,285

108,969

56,417

51,962

28,661

32,109

25,104

15,776

1,448

> Long-term Assets

283,090
271,990
72,353
320,232
105,415
113,275
338,061
314,180
274,318
227,070
192,743
173,942
170,658
155,745
1,639
157,841
149,521
169,705
0
141,910
135,279
141,100
139,353
179,412
70,601
6,480,512
6,733,496
6,794,462
7,233,785
215,420
8,114,294
8,382,686
3,171,958
3,366,046
2,413,050
2,534,733
2,633,010
2,778,657
2,756,979
2,331,843
2,426,376
2,313,603
1,847,505
1,588,251
1,619,893
816,860
828,392
776,784
602,925
649,739
673,828
810,537
809,272
827,022
861,511
931,755
1,025,884
1,052,703
1,056,540
1,065,437
1,105,257
306,284
303,623
337,245
1,364,025
327,632
1,859,970

1,859,970

327,632

1,364,025

337,245

303,623

306,284

1,105,257

1,065,437

1,056,540

1,052,703

1,025,884

931,755

861,511

827,022

809,272

810,537

673,828

649,739

602,925

776,784

828,392

816,860

1,619,893

1,588,251

1,847,505

2,313,603

2,426,376

2,331,843

2,756,979

2,778,657

2,633,010

2,534,733

2,413,050

3,366,046

3,171,958

8,382,686

8,114,294

215,420

7,233,785

6,794,462

6,733,496

6,480,512

70,601

179,412

139,353

141,100

135,279

141,910

169,705

149,521

157,841

1,639

155,745

170,658

173,942

192,743

227,070

274,318

314,180

338,061

113,275

105,415

320,232

72,353

271,990

283,090

Property Plant Equipment

0
0
0
2,970
96,789
105,557
105,130
104,327
103,057
102,298
101,539
100,781
100,022
106,519
804
104,953
104,177
124,185
122,302
122,302
120,579
119,703
118,827
140,959
41,889
62,492
105,061
105,853
105,224
-7,487
131,308
209,079
208,565
207,393
7,024
254,072
261,573
286,890
5,936
6,119
6,050
5,669
4,304
4,453
5,399
6,104
6,122
38,440
39,647
38,112
36,137
36,268
35,505
35,408
43,089
42,341
41,178
40,051
38,748
39,752
49,197
48,665
53,328
60,335
61,874
62,614
61,093

61,093

62,614

61,874

60,335

53,328

48,665

49,197

39,752

38,748

40,051

41,178

42,341

43,089

35,408

35,505

36,268

36,137

38,112

39,647

38,440

6,122

6,104

5,399

4,453

4,304

5,669

6,050

6,119

5,936

286,890

261,573

254,072

7,024

207,393

208,565

209,079

131,308

-7,487

105,224

105,853

105,061

62,492

41,889

140,959

118,827

119,703

120,579

122,302

124,185

104,177

104,953

804

106,519

100,022

100,781

101,539

102,298

103,057

104,327

105,130

105,557

96,789

2,970

Goodwill

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-6,932,061
0
0
0
0
0
4,243
4,294
4,617
4,617
4,617
95,347
92,118
92,118
93,207
92,767
92,767
92,767
92,767
92,767
92,767
92,767
92,767
91,562
91,562
91,562
91,562
91,562
91,562
91,562
99,147
99,147
163,623
163,366
163,366
179,236
179,236
179,236
179,103
179,103
179,103
186,567
185,944
186,608
206,636
205,674
205,023
206,155

206,155

205,023

205,674

206,636

186,608

185,944

186,567

179,103

179,236

163,366

163,623

99,147

91,562

92,767

93,207

92,118

95,347

4,617

4,294

4,243

-6,932,061

Long Term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
8,172
8,084
8,028
8,044
25,069
24,853
365,013
442,021
478,917
405,949
512,474
195,184
291,233
360,637
599,202
598,356
673,516
534,122
652,765
1,016,600
975,909
1,016,072
1,064,245
525,299
633,621
664,470
691,949
696,927
608,407
423,632
462,650
736,936
724,779
757,841
811,237
811,404
883,898
651,839
938,694
990,170
917,904
703,338
816,503
835,624
1,078,486
1,091,229
764,694
870,917

870,917

764,694

1,091,229

1,078,486

835,624

816,503

703,338

917,904

990,170

938,694

651,839

883,898

811,404

811,237

757,841

724,779

736,936

462,650

423,632

608,407

696,927

691,949

664,470

633,621

525,299

1,064,245

1,016,072

975,909

1,016,600

652,765

534,122

673,516

598,356

599,202

360,637

291,233

195,184

512,474

405,949

478,917

442,021

365,013

24,853

25,069

8,044

8,028

8,084

8,172

Intangible Assets

0
0
0
0
3,965
4,243
4,295
4,222
4,636
4,553
4,471
4,388
4,305
6,607
6,693
6,348
6,218
6,089
6,939
6,766
6,616
6,466
6,300
6,200
800
115,286
154,695
154,095
153,246
152,070
119,894
112,981
103,607
97,785
93,340
91,254
86,196
85,524
85,478
177,591
88,412
84,053
64,017
59,375
56,936
54,521
52,121
50,098
48,084
49,830
47,974
147,921
146,355
146,675
138,215
155,209
153,631
153,010
122,758
157,227
166,155
162,252
117,015
170,483
170,040
166,067
159,593

159,593

166,067

170,040

170,483

117,015

162,252

166,155

157,227

122,758

153,010

153,631

155,209

138,215

146,675

146,355

147,921

47,974

49,830

48,084

50,098

52,121

54,521

56,936

59,375

64,017

84,053

88,412

177,591

85,478

85,524

86,196

91,254

93,340

97,785

103,607

112,981

119,894

152,070

153,246

154,095

154,695

115,286

800

6,200

6,300

6,466

6,616

6,766

6,939

6,089

6,218

6,348

6,693

6,607

4,305

4,388

4,471

4,553

4,636

4,222

4,295

4,243

3,965

Other Assets

-274,314
-245,596
181,793
-68,336
392,477
393,487
177,745
175,927
173,119
169,504
166,530
164,831
161,722
155,745
152,559
150,565
142,550
163,420
136,144
136,653
135,438
135,563
16
-33
34
4,698,283
5,034,190
5,077,100
5,213,448
6,636,146
5,708,761
5,994,482
670,709
687,729
668,304
700,364
693,463
693,421
858,871
872,721
917,038
930,725
1,023,998
228,455
219,208
217,274
261,921
254,243
208,781
239,686
229,348
265,137
318,709
465,581
521,735
501,222
418,564
342,635
454,236
282,762
161,715
2,702,327
2,083,584
2,245,649
403,265
2,618,912
0

2,618,912

403,265

2,245,649

2,083,584

2,702,327

161,715

282,762

454,236

342,635

418,564

501,222

521,735

465,581

318,709

265,137

229,348

239,686

208,781

254,243

261,921

217,274

219,208

228,455

1,023,998

930,725

917,038

872,721

858,871

693,421

693,463

700,364

668,304

687,729

670,709

5,994,482

5,708,761

6,636,146

5,213,448

5,077,100

5,034,190

4,698,283

-33

135,563

135,438

136,653

136,144

163,420

142,550

150,565

152,559

155,745

161,722

164,831

166,530

169,504

173,119

175,927

177,745

393,487

392,477

-68,336

181,793

-245,596

-274,314

> Total Liabilities

3,117
7,514
25,000
38,496
121,989
130,274
129,774
92,210
92,152
89,043
88,639
93,334
90,175
90,124
67,376
86,683
83,620
99,558
100,636
100,636
97,846
97,948
97,760
116,638
37,410
6,048,455
6,314,592
6,390,046
6,817,352
6,500,758
7,793,600
8,059,564
2,966,797
3,092,019
2,103,534
2,190,191
2,323,788
2,485,404
2,499,906
2,073,126
2,150,797
2,057,616
1,592,968
1,281,146
1,328,715
1,400,641
1,465,659
1,420,185
1,513,328
1,649,081
1,786,871
2,078,336
2,133,312
2,433,175
2,622,222
2,651,214
2,806,508
2,976,210
3,198,966
3,217,045
3,207,369
3,474,510
3,505,990
3,766,401
4,088,381
4,283,818
2,708,338

2,708,338

4,283,818

4,088,381

3,766,401

3,505,990

3,474,510

3,207,369

3,217,045

3,198,966

2,976,210

2,806,508

2,651,214

2,622,222

2,433,175

2,133,312

2,078,336

1,786,871

1,649,081

1,513,328

1,420,185

1,465,659

1,400,641

1,328,715

1,281,146

1,592,968

2,057,616

2,150,797

2,073,126

2,499,906

2,485,404

2,323,788

2,190,191

2,103,534

3,092,019

2,966,797

8,059,564

7,793,600

6,500,758

6,817,352

6,390,046

6,314,592

6,048,455

37,410

116,638

97,760

97,948

97,846

100,636

99,558

83,620

86,683

67,376

90,124

90,175

93,334

88,639

89,043

92,152

92,210

129,774

130,274

121,989

38,496

25,000

7,514

3,117

> Total Current Liabilities

3,117
0
10,100
10,500
117,149
125,545
43,199
6,809
7,166
2,614
2,789
7,682
5,020
5,168
8,821
2,328
1,786
2,023
3,964
3,964
1,966
1,772
1,919
3,084
3,390
1,298,344
1,175,606
1,167,325
4,885,900
86,759
7,044,637
7,189,370
2,076,856
1,997,929
959,962
983,093
1,165,425
268,781
1,188,546
144,906
152,191
279,296
631,438
272,345
267,664
190,531
241,787
278,253
286,507
314,502
258,655
437,412
475,644
497,100
372,483
502,369
536,266
554,946
424,102
605,328
490,732
628,876
649,150
665,513
716,899
678,204
1,380,635

1,380,635

678,204

716,899

665,513

649,150

628,876

490,732

605,328

424,102

554,946

536,266

502,369

372,483

497,100

475,644

437,412

258,655

314,502

286,507

278,253

241,787

190,531

267,664

272,345

631,438

279,296

152,191

144,906

1,188,546

268,781

1,165,425

983,093

959,962

1,997,929

2,076,856

7,189,370

7,044,637

86,759

4,885,900

1,167,325

1,175,606

1,298,344

3,390

3,084

1,919

1,772

1,966

3,964

2,023

1,786

2,328

8,821

5,168

5,020

7,682

2,789

2,614

7,166

6,809

43,199

125,545

117,149

10,500

10,100

3,117

Short-term Debt

0
0
0
0
112,859
120,008
37,781
37,781
0
0
0
0
0
0
27
0
0
0
0
0
0
0
0
0
0
0
54,871
55,733
68,662
68,369
140,849
171,938
155,602
201,575
191,395
227,850
260,100
354,344
414,557
397,139
406,241
428,163
147,294
131,417
174,587
175,397
158,182
85,452
81,659
88,839
114,786
199,538
168,409
148,564
147,823
165,960
145,058
150,715
158,533
161,051
54,388
58,568
60,628
139,818
148,578
111,538
197,138

197,138

111,538

148,578

139,818

60,628

58,568

54,388

161,051

158,533

150,715

145,058

165,960

147,823

148,564

168,409

199,538

114,786

88,839

81,659

85,452

158,182

175,397

174,587

131,417

147,294

428,163

406,241

397,139

414,557

354,344

260,100

227,850

191,395

201,575

155,602

171,938

140,849

68,369

68,662

55,733

54,871

37,781

120,008

112,859

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
363,199
0
0
0
669,262
0
0
0
555,267
0
822,450
866,055
346,081
320,508
680
0
0
85,452
81,659
88,839
114,786
199,538
168,409
148,564
147,823
165,960
145,058
150,715
158,533
161,051
54,388
58,568
60,628
139,818
148,578
111,538
197,138

197,138

111,538

148,578

139,818

60,628

58,568

54,388

161,051

158,533

150,715

145,058

165,960

147,823

148,564

168,409

199,538

114,786

88,839

81,659

85,452

680

320,508

346,081

866,055

822,450

555,267

669,262

363,199

Accounts payable

1,521
2,026
1,509
823
746
1,534
1,625
5,944
6,029
2,614
2,245
2,110
2,520
2,605
835
1,988
1,561
1,742
2,170
2,170
1,268
1,689
1,833
1,621
1,743
47,120
11,479
30,760
71,068
18,390
11,670
9,950
6,904
8,823
142,922
173,377
130,603
149,444
154,348
89,736
156,338
147,171
165,440
152,258
153,680
183,770
192,914
115,029
204,848
225,663
143,869
237,874
307,235
348,536
224,660
336,409
391,208
404,231
265,569
444,277
436,344
491,648
305,097
472,507
568,321
569,182
580,330

580,330

569,182

568,321

472,507

305,097

491,648

436,344

444,277

265,569

404,231

391,208

336,409

224,660

348,536

307,235

237,874

143,869

225,663

204,848

115,029

192,914

183,770

153,680

152,258

165,440

147,171

156,338

89,736

154,348

149,444

130,603

173,377

142,922

8,823

6,904

9,950

11,670

18,390

71,068

30,760

11,479

47,120

1,743

1,621

1,833

1,689

1,268

2,170

1,742

1,561

1,988

835

2,605

2,520

2,110

2,245

2,614

6,029

5,944

1,625

1,534

746

823

1,509

2,026

1,521

Other Current Liabilities

1,596
3,564
10,100
10,500
4,290
5,537
3,793
6,809
7,166
2,614
544
7,682
5,020
5,168
3,368
2,328
1,786
2,023
1,794
1,794
698
83
86
1,463
1,647
1,251,224
1,120,735
1,111,592
4,746,170
-86,759
13,693,450
13,897,020
3,697,512
3,442,756
1,125,128
1,046,440
1,435,366
-583,446
1,134,774
-786,612
-410,388
-699,936
523,918
-139,358
-248,800
-168,636
-109,309
77,772
-286,507
-314,502
-258,655
-437,412
-475,644
-497,100
-372,483
-502,369
-536,266
-554,946
-424,102
-605,328
-490,732
-550,216
-365,725
-612,325
-681,263
-680,720
800,305

800,305

-680,720

-681,263

-612,325

-365,725

-550,216

-490,732

-605,328

-424,102

-554,946

-536,266

-502,369

-372,483

-497,100

-475,644

-437,412

-258,655

-314,502

-286,507

77,772

-109,309

-168,636

-248,800

-139,358

523,918

-699,936

-410,388

-786,612

1,134,774

-583,446

1,435,366

1,046,440

1,125,128

3,442,756

3,697,512

13,897,020

13,693,450

-86,759

4,746,170

1,111,592

1,120,735

1,251,224

1,647

1,463

698

1,794

2,023

1,786

2,328

3,368

5,168

5,020

7,682

544

2,614

7,166

6,809

3,793

5,537

4,290

10,500

10,100

3,564

1,596

> Long-term Liabilities

0
0
25,000
38,496
4,840
4,729
86,575
85,401
84,986
86,429
85,850
85,652
85,155
84,956
58,555
84,355
81,834
97,535
0
96,672
95,880
96,176
95,841
113,554
34,020
4,750,111
5,138,986
5,222,721
1,931,452
356,980
748,963
870,194
889,941
1,094,090
1,143,572
1,207,098
1,158,363
2,216,623
1,311,360
1,928,220
1,998,606
1,778,320
961,530
1,008,801
1,061,051
1,210,110
1,223,872
1,141,932
357,959
388,478
501,361
567,183
586,352
713,246
789,640
791,951
833,909
847,060
968,261
885,797
941,491
2,845,634
2,856,840
3,100,888
1,076,567
3,605,614
1,327,703

1,327,703

3,605,614

1,076,567

3,100,888

2,856,840

2,845,634

941,491

885,797

968,261

847,060

833,909

791,951

789,640

713,246

586,352

567,183

501,361

388,478

357,959

1,141,932

1,223,872

1,210,110

1,061,051

1,008,801

961,530

1,778,320

1,998,606

1,928,220

1,311,360

2,216,623

1,158,363

1,207,098

1,143,572

1,094,090

889,941

870,194

748,963

356,980

1,931,452

5,222,721

5,138,986

4,750,111

34,020

113,554

95,841

96,176

95,880

96,672

97,535

81,834

84,355

58,555

84,956

85,155

85,652

85,850

86,429

84,986

85,401

86,575

4,729

4,840

38,496

25,000

Long term Debt Total

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
95,659
95,880
95,567
95,232
112,884
33,376
238,503
598
382,244
287,223
425,809
363,199
473,640
464,372
625,491
673,210
713,071
655,233
774,095
793,009
751,885
821,951
865,629
346,081
320,508
366,215
365,272
354,083
282,798
296,558
329,496
374,454
433,136
402,282
397,764
366,246
393,959
381,871
374,842
393,349
391,326
261,781
266,255
259,366
347,461
361,211
0
0

361,211

347,461

259,366

266,255

261,781

391,326

393,349

374,842

381,871

393,959

366,246

397,764

402,282

433,136

374,454

329,496

296,558

282,798

354,083

365,272

366,215

320,508

346,081

865,629

821,951

751,885

793,009

774,095

655,233

713,071

673,210

625,491

464,372

473,640

363,199

425,809

287,223

382,244

598

238,503

33,376

112,884

95,232

95,567

95,880

95,659

Warrants

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,227
5,183
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

5,183

5,227

Other Liabilities

0
1,924
5,435
6,500
4,840
4,729
4,358
3,203
2,803
3,767
3,977
3,993
3,683
2,965
2,620
2,876
594
1,040
593
641
609
609
609
670
644
4,495,517
4,788,407
4,849,907
4,948,088
4,649,906
5,495,360
5,714,357
543,307
686,257
557,370
574,317
592,026
601,559
605,092
616,706
655,125
685,184
1,048,557
114,026
110,391
117,397
120,299
121,492
129,866
140,180
155,484
341,956
363,467
393,924
439,975
475,681
806,545
1,130,406
841,399
614,971
694,414
726,531
789,262
0
822,983
0
0

822,983

789,262

726,531

694,414

614,971

841,399

1,130,406

806,545

475,681

439,975

393,924

363,467

341,956

155,484

140,180

129,866

121,492

120,299

117,397

110,391

114,026

1,048,557

685,184

655,125

616,706

605,092

601,559

592,026

574,317

557,370

686,257

543,307

5,714,357

5,495,360

4,649,906

4,948,088

4,849,907

4,788,407

4,495,517

644

670

609

641

593

1,040

594

2,876

2,620

2,965

3,683

3,993

3,977

3,767

2,803

3,203

4,358

4,729

4,840

6,500

5,435

1,924

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
91,031
102,375
98,067
88,372
85,780
77,715
80,454
83,788
52,254
51,337
52,944
53,930
56,745
58,349
63,797
69,051
75,754
75,276
80,101
86,692
94,601
304,622
320,024
358,734
399,211
424,608
0
0
0
0
0
0
0
0
0
0
0

424,608

399,211

358,734

320,024

304,622

94,601

86,692

80,101

75,276

75,754

69,051

63,797

58,349

56,745

53,930

52,944

51,337

52,254

83,788

80,454

77,715

85,780

88,372

98,067

102,375

91,031

> Total Stockholder Equity

289,350
293,206
293,335
290,407
287,056
281,918
241,132
240,210
236,474
233,064
226,793
217,933
216,081
82,668
-65,177
79,880
79,859
79,072
93,580
93,580
91,225
89,800
88,037
86,495
100,390
114,234
119,911
121,665
122,829
247,263
284,462
285,687
296,724
319,593
312,840
318,373
287,541
286,772
293,431
294,708
290,868
326,647
300,077
320,148
393,652
386,878
387,101
383,635
396,085
394,775
398,062
333,853
335,821
347,738
356,144
378,443
387,018
385,212
382,954
366,633
390,405
387,279
397,365
400,647
401,892
396,091
416,866

416,866

396,091

401,892

400,647

397,365

387,279

390,405

366,633

382,954

385,212

387,018

378,443

356,144

347,738

335,821

333,853

398,062

394,775

396,085

383,635

387,101

386,878

393,652

320,148

300,077

326,647

290,868

294,708

293,431

286,772

287,541

318,373

312,840

319,593

296,724

285,687

284,462

247,263

122,829

121,665

119,911

114,234

100,390

86,495

88,037

89,800

91,225

93,580

79,072

79,859

79,880

-65,177

82,668

216,081

217,933

226,793

233,064

236,474

240,210

241,132

281,918

287,056

290,407

293,335

293,206

289,350

Common Stock

21
21
21
21
21
21
21
21
21
21
21
21
21
10
11
11
11
11
11
11
11
11
11
11
11
42
42
42
42
42
42
42
42
43
43
43
43
43
43
43
43
43
43
43
37
36
36
35
35
35
35
34
34
34
33
33
33
34
34
35
36
36
36
37
37
37
37

Retained Earnings

-8,897
-5,183
-5,130
-8,245
-11,172
-18,266
-50,215
-51,142
-55,139
-59,012
-66,820
-75,253
-77,155
-384
0
-3,577
-3,881
-4,718
9,954
9,954
7,221
5,743
3,879
2,338
16,163
16,652
18,933
19,958
21,029
21,301
13,379
11,597
25,758
20,367
15,845
20,522
25,785
30,956
37,974
38,220
32,925
28,913
38,079
60,741
60,265
58,346
57,231
60,015
70,340
67,465
70,189
8,725
11,143
22,520
35,423
62,678
69,313
69,961
68,146
65,788
41,964
54,717
54,113
51,201
55,340
55,643
60,663

60,663

55,643

55,340

51,201

54,113

54,717

41,964

65,788

68,146

69,961

69,313

62,678

35,423

22,520

11,143

8,725

70,189

67,465

70,340

60,015

57,231

58,346

60,265

60,741

38,079

28,913

32,925

38,220

37,974

30,956

25,785

20,522

15,845

20,367

25,758

11,597

13,379

21,301

21,029

19,958

18,933

16,652

16,163

2,338

3,879

5,743

7,221

9,954

-4,718

-3,881

-3,577

-384

-77,155

-75,253

-66,820

-59,012

-55,139

-51,142

-50,215

-18,266

-11,172

-8,245

-5,130

-5,183

-8,897

Capital Surplus

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
84,029
83,993
84,046
84,147
84,146
84,216
97,250
100,903
101,572
101,586
225,813
271,090
273,014
271,189
298,589
297,063
296,531
296,428
297,274
297,391
297,268
296,282
296,476
295,582
294,678
335,749
331,538
331,892
323,334
324,321
325,359
326,140
323,064
318,817
319,522
315,014
313,140
314,983
314,060
317,459
323,916
379,371
380,196
382,645
382,502
379,741
0
0

379,741

382,502

382,645

380,196

379,371

323,916

317,459

314,060

314,983

313,140

315,014

319,522

318,817

323,064

326,140

325,359

324,321

323,334

331,892

331,538

335,749

294,678

295,582

296,476

296,282

297,268

297,391

297,274

296,428

296,531

297,063

298,589

271,189

273,014

271,090

225,813

101,586

101,572

100,903

97,250

84,216

84,146

84,147

84,046

83,993

84,029

Treasury Stock

-33,831

-34,593

-34,672

-39,714

-41,885

-42,532

-36,382

-8,824

-8,334

-8,330

Other Stockholders Equity

298,226
298,368
298,444
298,631
298,207
300,163
291,326
291,331
291,592
292,055
293,592
293,165
293,215
83,042
-64,982
83,446
83,729
83,779
0
83,615
83,993
84,046
84,147
84,146
84,216
97,250
100,903
101,572
101,586
225,813
271,090
273,014
271,189
298,589
297,063
296,531
260,046
254,742
254,859
255,383
256,568
296,468
260,989
260,847
335,749
331,538
331,892
323,334
324,321
325,359
326,140
323,064
318,817
319,522
315,014
313,140
314,983
314,060
317,459
323,916
379,371
380,196
382,645
382,502
379,741
380,988
382,239

382,239

380,988

379,741

382,502

382,645

380,196

379,371

323,916

317,459

314,060

314,983

313,140

315,014

319,522

318,817

323,064

326,140

325,359

324,321

323,334

331,892

331,538

335,749

260,847

260,989

296,468

256,568

255,383

254,859

254,742

260,046

296,531

297,063

298,589

271,189

273,014

271,090

225,813

101,586

101,572

100,903

97,250

84,216

84,146

84,147

84,046

83,993

83,615

83,779

83,729

83,446

-64,982

83,042

293,215

293,165

293,592

292,055

291,592

291,331

291,326

300,163

298,207

298,631

298,444

298,368

298,226

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
Accounts Payable	580,330	305,097	446,560	224,660	143,869	117,597	165,440	154,348	142,922	11,670	11,479	1,833	2,170	835	2,245	1,625	1,509
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Other Comprehensive Income	-26,073	-39,429	-2,685	5,674	1,698	-2,058	966	555	-111	-49	33	-8,015	-4,540	-195	-4,481	-1,414	0
Additional Paid In Capital	0	0	0	0	0	0	15,333	12	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	40,403	38,031	29,396	32,914	29,491	0	0	0	0	0	0	0	0	0	0	0	0
Capital Stock	37	36	34	33	35	36	0	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	0	382,645	317,459	315,014	326,140	331,892	295,582	297,391	297,063	271,090	100,903	84,147	0	0	0	0	0
Cash	492,561	538,065	175,718	136,920	133,117	86,003	110,667	63,010	69,400	52,987	120,557	46,428	52,306	210	122,512	31,800	15,319
Cash And Equivalents	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash And Short Term Investments	1,271,320	1,150,045	753,166	514,053	468,309	369,566	293,115	209,181	254,103	224,115	138,320	46,428	52,306	210	122,512	31,800	72,353
Common Stock	37	36	34	33	35	36	43	43	43	42	42	11	11	11	21	21	21
Common Stock Shares Outstanding	37,619	35,531	33,688	33,860	34,578	34,716	37,307	31,767	33,203	16,772	10,250	10,286	10,310	10,065	30,093	31,429	31,300
Common Stock Total Equity	0	36	34	33	35	36	43	43	43	42	42	11	11	0	21	21	21
Current Deferred Revenue	-197,138	649,150	534,863	399,211	94,601	75,754	56,745	52,254	63,081	45,393	0	0	0	6,275	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
Deferred Long Term Liab	0	0	0	399,211	94,601	75,754	56,745	52,254	85,780	91,031	0	0	0	0	0	0	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Good Will	206,155	186,608	179,103	179,236	99,147	91,562	91,562	92,767	92,767	95,347	4,294	0	-6,932,061	0	0	0	0
Intangible Assets	159,593	117,015	152,591	138,215	47,974	52,121	64,017	85,478	93,340	119,894	154,695	6,300	6,939,000	6,477	4,471	4,295	0
Inventory	-2,911,089	-2,300,353	-710,429	-594,842	-441,785	12,983	3,260	5	25	28,661	0	0	0	0	0	0	0
Liabilities And Stockholders Equity	3,284,903	4,039,563	3,599,147	2,995,760	2,198,286	1,864,918	1,989,742	2,890,050	2,501,228	8,195,326	6,880,448	185,797	194,216	2,199	315,432	370,906	328,398
Long Term Debt	202,456	259,366	393,349	366,246	374,454	195,901	346,081	793,009	673,210	363,199	598	95,232	79,879	80,784	80,973	119,698	25,000
Long Term Debt Total	0	259,366	393,349	366,246	374,454	354,083	346,081	793,009	673,210	363,199	598	95,232	0	0	0	0	0
Long Term Investments	870,917	835,624	990,170	811,404	736,936	406,542	525,299	1,016,600	598,356	195,184	442,021	8,044	0	0	0	0	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Debt	-17,564	-218,071	283,759	229,326	241,337	268,080	235,414	729,999	603,810	329,872	240,052	48,804	43,773	5,687	-40,639	88,198	9,681
Net Invested Capital	816,460	688,867	813,035	792,983	772,516	741,184	646,158	0	0	0	0	0	0	0	0	0	0
Net Receivables	1,639,769	1,678,401	1,355,029	1,098,461	826,801	643,456	553,733	471,985	528,787	351,893	40,260	0	0	184	177	1,045	1,899
Net Tangible Assets	0	-42,466	81,093	56,087	264,294	244,020	241,195	115,186	126,733	69,221	45,513	81,721	0	0	0	0	0
Net Working Capital	44,298	1,003,206	1,503,102	1,240,031	1,036,455	781,756	-489,201	-1,055,475	-871,784	-6,963,605	-1,028,654	44,509	48,342	-8,261	119,900	-10,354	7,118
Non Current Assets Total	1,859,970	303,623	1,086,373	861,511	673,828	841,375	1,847,505	2,756,979	2,413,050	8,114,294	6,733,496	139,353	141,910	1,639	192,743	338,061	72,353
Non Current Liabilities Other	0	3,246,624	2,805,617	1,856,765	1,317,816	131,611	1,190,142	1,654,643	1,344,544	7,339,370	6,313,994	609	0	0	0	0	0
Non Current Liabilities Total	1,327,703	2,856,840	875,856	789,640	501,361	1,223,872	961,530	1,311,360	1,143,572	748,963	5,138,986	95,841	96,672	58,555	85,850	86,575	25,000
Non Currrent Assets Other	668,638	-751,084	-1,086,373	-861,511	-48,345	114,265	448,492	24,345	960,406	7,695,311	6,191,063	6,182	4,412	-5,642	4,617	2,428	-72,353
Noncontrolling Interest In Consolidated Entity	0	272,416	17,227	0	0	0	0	96,713	84,854	117,264	361,354	0	0	0	0	0	0
Other Assets	0	2,083,584	404,579	521,735	229,348	264,228	253,229	1,401,663	76,636	5,166,775	61,949	16	4,412	1,822	4,442	3,830	238,827
Other Current Assets	1,424,933	1,124,263	710,429	594,842	441,785	-2,462	-704,611	-548,095	-694,712	-494,976	8,632	0	0	166	1,822	1,700	2,900
Other Current Liab	800,305	-365,725	-534,863	-399,211	-94,601	-109,746	261,959	567,387	562,564	6,846,725	1,120,735	86	1,794	1,684	544	3,793	10,100
Other Liab	0	789,262	841,399	439,975	155,484	124,237	99,670	1,029,478	793,534	5,154,742	50,950	695	2,387	2,659	3,977	8,151	8,554
Other Stockholder Equity	382,239	382,645	317,459	315,014	326,140	331,892	260,989	254,859	297,063	271,090	100,903	92,162	88,155	-64,982	298,073	292,740	298,444
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	10	31	0	0	0	0	0	0
Property Plant And Equipment Gross	0	0	0	43,089	36,137	6,122	4,304	5,936	7,024	0	0	118,827	122,302	804	101,539	105,130	0
Property Plant And Equipment Net	61,093	53,328	38,748	43,089	36,137	6,122	4,304	5,936	7,024	0	316,408	118,827	122,302	804	101,539	105,130	0
Property Plant Equipment	0	53,328	38,748	43,089	36,137	6,122	4,304	5,837	203,961	5,052	0	118,827	0	0	0	0	0
Retained Earnings	60,663	54,113	68,146	35,423	70,189	57,231	38,079	37,974	15,845	13,379	18,933	3,879	9,954	-2,464	-66,820	-50,215	-5,130
Retained Earnings Total Equity	0	54,113	68,146	35,423	70,189	57,231	38,079	37,974	15,845	13,379	18,933	3,879	0	0	0	0	0
Short Long Term Debt	197,138	60,628	158,533	147,823	114,786	158,182	147,294	414,557	134	363,199	0	0	0	0	0	0	0
Short Long Term Debt Total	474,997	319,994	459,477	366,246	374,454	354,083	346,081	793,009	673,210	382,859	360,609	95,232	96,079	5,897	81,873	119,998	25,000
Short Term Debt	197,138	60,628	158,533	147,823	114,786	158,182	147,294	414,557	191,395	140,849	54,871	0	0	27	0	37,781	0
Short Term Investments	246,489	611,980	577,448	377,133	335,192	283,563	182,448	146,171	184,703	171,128	17,763	0	0	0	0	0	72,353
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Assets	3,284,903	4,039,563	3,599,147	2,995,760	2,198,286	1,864,918	1,989,742	2,890,050	2,501,228	8,195,326	6,880,448	185,797	194,216	2,199	315,432	370,906	328,398
Total Current Assets	1,424,933	1,652,356	2,108,195	1,612,514	1,295,110	1,023,543	142,237	133,071	88,178	81,032	146,952	46,428	52,306	560	122,689	32,845	17,218
Total Current Liabilities	1,380,635	649,150	605,093	372,483	258,655	241,787	631,438	1,188,546	959,962	7,044,637	1,175,606	1,919	3,964	8,821	2,789	43,199	10,100
Total Liab	2,708,338	3,505,990	3,198,966	2,622,222	1,786,871	1,465,659	1,592,968	2,499,906	2,103,534	7,793,600	6,314,592	97,760	100,636	67,376	88,639	129,774	35,063
Total Permanent Equity	0	0	0	0	0	0	20,582	16	0	0	0	0	0	0	0	0	0
Total Stockholder Equity	416,866	397,365	382,954	356,144	398,062	387,101	300,077	293,431	312,840	284,462	119,911	88,037	93,580	-65,177	226,793	241,132	293,335
Treasury Stock	0	0	0	0	0	0	-34,593	-42,532	0	0	0	0	0	0	-8,334	-8,330	0
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30
Accounts Payable	580,330	569,182	568,321	472,507	305,097	491,648	436,344	444,277	265,569	404,231	391,208	336,409	224,660	348,536	307,235	237,874	143,869	225,663	204,848	115,029	192,914	183,770	153,680	152,258	165,440	147,171	156,338	89,736	154,348	149,444	130,603	173,377	142,922	8,823	6,904	9,950	11,670	18,390	71,068	30,760	11,479	47,120	1,743	1,621	1,833	1,689	1,268	2,170	2,170	1,742	1,561	1,988	835	2,605	2,520	2,110	2,245	2,614	6,029	5,944	1,625	1,534	746	823	1,509	2,026	1,521
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	-
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	-
Accumulated Other Comprehensive Income	-26,073	-40,577	-33,226	-33,093	-39,429	-47,670	-30,966	-23,106	-2,685	1,157	2,689	2,592	5,674	5,662	5,827	2,030	1,698	1,916	1,389	251	-2,058	-3,042	-2,399	-1,483	966	1,223	1,332	1,062	555	1,031	1,667	1,277	-111	594	-265	1,034	-49	107	172	93	33	290	-968	-8,993	-8,015	-7,139	-6,263	-4,540	-4,540	-3,637	-2,845	-2,069	-195	-517	-5,998	-5,239	-4,481	-3,722	-2,963	-2,217	-1,414	-987	-43	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	2,163	623	294,678	295,582	296,476	296,282	297,268	297,391	297,274	296,428	0	0	0	0	0	0	0	0	0	0	0	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	40,403	39,900	38,471	40,036	38,031	39,826	41,171	33,185	29,396	30,407	31,725	32,700	32,914	26,233	27,384	28,963	29,491	31,329	32,701	31,473	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	37	37	37	37	36	36	36	35	34	34	33	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	379,741	382,502	382,645	380,196	379,371	323,916	317,459	314,060	314,983	313,140	315,014	319,522	318,817	323,064	326,140	325,359	324,321	323,334	331,892	331,538	335,749	294,678	295,582	296,476	296,282	297,268	297,391	297,274	296,428	296,531	297,063	298,589	271,189	273,014	271,090	225,813	101,586	101,572	100,903	97,250	84,216	84,146	84,147	84,046	83,993	84,029	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Cash	492,561	514,692	372,410	412,004	538,065	503,488	337,916	177,962	175,718	150,496	141,661	123,879	136,920	103,502	80,604	108,785	133,117	136,134	175,835	88,079	86,003	82,809	91,490	81,219	110,667	111,751	75,764	67,190	63,010	65,995	56,181	43,225	69,400	98,737	170,100	46,420	52,987	179,892	122,050	124,824	120,557	123,721	69,002	27,757	46,428	46,648	48,040	52,306	52,306	8,907	13,938	8,346	210	7,602	134,894	136,586	122,512	94,701	53,751	17,355	31,800	17,538	15,383	14,889	15,319	23,919	7,786
Cash And Equivalents	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Cash And Short Term Investments	1,271,320	785,312	733,549	1,222,449	1,150,045	1,087,569	944,378	746,422	753,166	691,617	588,961	533,826	514,053	473,416	426,322	442,488	468,309	451,338	444,889	372,008	369,566	338,593	325,851	294,028	293,115	275,844	223,542	219,719	209,181	203,190	221,206	228,317	254,103	291,124	349,872	222,987	224,115	196,956	140,002	142,486	138,320	141,442	69,002	27,757	46,428	46,648	48,040	52,306	0	8,907	13,938	8,346	210	16,959	134,894	136,586	122,512	94,701	53,751	17,355	31,800	273,805	301,148	85,965	72,353	271,990	283,090
Common Stock	37	37	37	37	36	36	36	35	34	34	33	33	33	34	34	34	35	35	35	35	36	36	37	43	43	43	43	43	43	43	43	43	43	43	42	42	42	42	42	42	42	42	11	11	11	11	11	11	11	11	11	11	11	10	21	21	21	21	21	21	21	21	21	21	21	21	21
Common Stock Shares Outstanding	37,744	37,684	37,586	36,523	37,162	36,783	35,229	34,229	33,996	34,132	33,568	36,184	33,213	33,684	33,984	34,566	34,578	34,552	34,527	34,673	34,673	36,402	37,386	29,861	29,861	29,455	28,833	36,750	36,750	37,231	34,529	35,085	35,085	33,848	31,882	32,138	32,138	17,450	10,618	10,587	10,587	10,272	10,244	10,251	10,242	10,238	10,225	10,186	10,175	10,188	10,167	10,140	10,140	30,299	30,344	30,310	30,309	20,075	30,079	30,046	30,046	31,340	31,321	31,313	31,313	31,296	31,296
Common Stock Total Equity	0	0	37	37	36	36	36	35	34	34	33	33	33	34	34	34	35	35	35	35	36	36	37	43	43	43	43	43	43	43	43	43	43	43	42	42	42	42	42	42	42	42	11	11	11	11	11	11	11	11	11	11	0	10	21	21	21	21	21	21	21	21	21	21	21	21	21
Current Deferred Revenue	-197,138	678,204	681,263	665,513	649,150	628,876	593,235	560,316	534,863	511,273	472,610	424,608	399,211	358,734	320,024,000	304,622,000	94,601	86,692,000	80,101,000	75,276,000	75,754	69,051	63,797	58,349	56,745	53,930	52,944	51,337	52,254	56,716	57,039	58,646	63,081	66,153	65,594	58,972	45,393	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	6,275	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Deferred Long Term Liab	0	0	0	0	0	0	0	0	0	0	0	424,608	399,211	358,734	320,024	304,622	94,601	86,692	80,101	75,276	75,754	69,051	63,797	58,349	56,745	53,930	52,944	51,337	52,254	83,788	80,454	77,715	85,780	88,372	98,067	102,375	91,031	0	0	0	0	0	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	-
Good Will	206,155	205,023	205,674	206,636	186,608	185,944	186,567	179,103	179,103	179,103	179,236	179,236	179,236	163,366	163,366	163,623	99,147	99,147	91,562	91,562	91,562	91,562	91,562	91,562	91,562	92,767	92,767	92,767	92,767	92,767	92,767	92,767	92,767	93,207	92,118	92,118	95,347	4,617	4,617	4,617	4,294	4,243	0	0	0	0	0	-6,932,061	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Intangible Assets	159,593	166,067	170,040	170,483	117,015	162,252	166,155	157,227	122,758	153,010	153,631	155,209	138,215	146,675	146,355	147,921	47,974	49,830	48,084	50,098	52,121	54,521	56,936	59,375	64,017	84,053	88,412	177,591	85,478	85,524	86,196	91,254	93,340	97,785	103,607	112,981	119,894	152,070	153,246	154,095	154,695	115,286	800	6,200	6,300	6,466	6,616	6,766	6,939	6,089	6,218	6,348	6,693	6,607	4,305	4,388	4,471	4,553	4,636	4,222	4,295	4,243	3,965	0	0	0	-
Inventory	-2,911,089	-1,783,701	-1,416,970	-2,519,004	-2,300,353	-2,871,362	-892,703	0	0	0	0	0	19,513	0	0	0	625	0	0	3,098	0	331	100	52,757	62,846	114,461	93,491	16,466	121,439	2,217	2,083	95,597	123,285	108,969	56,417	51,962	28,661	32,109	25,104	15,776	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,448	0	0	0	0	-
Liabilities And Stockholders Equity	3,284,903	4,827,391	4,634,449	4,307,958	4,039,563	3,994,084	3,732,709	3,600,198	3,599,147	3,378,352	3,211,557	3,048,613	2,995,760	2,794,866	2,480,501	2,422,672	2,198,286	2,056,493	1,920,366	1,814,840	1,864,918	1,796,609	1,729,531	1,688,806	1,989,742	2,448,754	2,541,469	2,466,964	2,890,050	2,866,745	2,704,253	2,599,909	2,501,228	3,498,787	3,372,143	8,456,807	8,195,326	7,048,522	7,378,631	6,955,516	6,880,448	6,604,233	142,983	208,360	185,797	187,748	189,071	194,216	194,216	178,630	163,479	166,563	2,199	172,792	306,256	311,267	315,432	322,107	328,626	332,420	370,906	412,192	409,045	339,372	328,398	300,720	292,467
Long Term Debt	202,456	246,086	361,211	347,461	259,366	266,255	233,098	391,326	393,349	374,842	296,550	393,959	366,246	397,764	402,282	433,136	374,454	240,657	214,899	282,798	354,083	365,272	366,215	320,508	346,081	865,629	821,951	751,885	793,009	774,095	655,233	713,071	673,210	625,491	464,372	473,640	363,199	425,809	287,223	382,244	598	238,503	33,376	112,884	95,232	95,567	95,880	95,659	79,879	96,495	81,240	81,479	80,784	81,991	81,472	81,659	80,973	82,069	82,183	82,198	119,698	120,008	112,859	38,496	25,000	0	-
Long Term Debt Total	0	0	361,211	347,461	259,366	266,255	261,781	391,326	393,349	374,842	381,871	393,959	366,246	397,764	402,282	433,136	374,454	329,496	296,558	282,798	354,083	365,272	366,215	320,508	346,081	865,629	821,951	751,885	793,009	774,095	655,233	713,071	673,210	625,491	464,372	473,640	363,199	425,809	287,223	382,244	598	238,503	33,376	112,884	95,232	95,567	95,880	95,659	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Long Term Investments	870,917	764,694	1,091,229	1,078,486	835,624	816,503	703,338	917,904	990,170	938,694	651,839	883,898	811,404	811,237	757,841	724,779	736,936	462,650	423,632	608,407	696,927	691,949	664,470	633,621	525,299	1,064,245	1,016,072	975,909	1,016,600	652,765	534,122	673,516	598,356	599,202	360,637	291,233	195,184	512,474	405,949	478,917	442,021	365,013	24,853	25,069	8,044	8,028	8,084	8,172	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	-
Net Debt	-17,564	-117,168	59,238	10,542	-218,071	-168,391	-9,259	274,235	217,631	303,205	331,672	378,732	229,326	384,171	349,062	353,314	241,337	224,691	153,424	194,719	268,080	282,463	274,725	239,289	235,414	753,878	746,187	684,695	729,999	708,100	599,052	669,846	603,810	546,795	313,889	447,296	329,872	245,457	163,656	256,442	240,052	114,782	-35,626	85,127	48,804	48,919	47,840	43,773	43,773	87,588	67,302	73,133	5,687	76,829	-50,264	-54,927	-40,639	-12,632	28,432	64,843	88,198	105,921	100,304	23,607	25,000	0	-
Net Invested Capital	816,460	753,715	795,069	783,157	688,867	682,550	677,891	785,645	813,035	808,506	828,626	848,354	792,983	809,178	738,103	766,989	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	1,639,769	1,433,555	2,133,610	1,806,555	1,678,401	1,695,775	1,521,359	1,505,577	1,335,205	1,291,397	1,178,148	1,081,810	1,098,461	1,028,847	926,198	904,510	826,801	715,730	663,771	652,986	656,439	630,452	583,981	581,446	553,733	530,082	524,664	484,421	471,985	545,059	537,040	543,439	528,787	470,317	425,224	387,495	351,893	32,714	55,003	42,105	40,260	58,501	3,346	1,224	0	0	0	0	0	18	20	376	184	88	56	59	177	336	557	885	1,045	1,167	1,185	1,511	1,899	2,336	601
Net Tangible Assets	0	0	-76,065	-77,508	-42,466	-51,300	78,724	68,173	81,093	79,460	77,353	64,892	56,087	64,126	47,298	41,284	264,294	246,226	267,392	252,995	255,576	249,885	252,318	256,723	241,195	115,163	109,689	117,117	115,186	108,481	108,578	134,352	126,733	128,601	100,999	80,588	69,221	155,126	41,370	44,026	45,513	81,582	104,739	85,555	81,721	83,334	84,609	87,522	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Net Working Capital	44,298	1,202,643	2,150,260	1,059,551	1,003,206	356,597	1,975,005	1,646,671	1,664,269	1,428,068	1,230,843	1,113,267	1,240,031	1,005,163	876,876	909,586	1,036,455	852,566	822,153	759,803	794,739	789,218	-158,026	-171,790	-489,201	-144,145	-37,098	-9,785	-1,055,475	-180,693	-1,094,182	-917,917	-871,784	-1,865,188	-1,876,671	-7,115,249	-6,963,605	110,197	-4,741,054	-1,006,271	-1,028,654	-1,174,623	68,958	25,897	44,509	44,876	51,826	48,342	48,342	6,902	12,172	6,394	-8,261	11,879	130,578	129,643	119,900	92,423	47,142	11,431	-10,354	173,372	186,481	76,976	64,152	0	-
Non Current Assets Total	1,859,970	327,632	1,364,025	337,245	303,623	306,284	1,105,257	1,065,437	1,056,540	1,052,703	1,025,884	931,755	861,511	827,022	809,272	810,537	673,828	649,739	602,925	776,784	828,392	816,860	1,619,893	1,588,251	1,847,505	2,313,603	2,426,376	2,331,843	2,756,979	2,778,657	2,633,010	2,534,733	2,413,050	3,366,046	3,171,958	8,382,686	8,114,294	215,420	7,233,785	6,794,462	6,733,496	6,480,512	70,601	179,412	139,353	141,100	135,279	141,910	0	169,705	149,521	157,841	1,639	155,745	170,658	173,942	192,743	227,070	274,318	314,180	338,061	113,275	105,415	320,232	72,353	271,990	283,090
Non Current Liabilities Other	0	0	3,727,170	3,418,940	3,246,624	3,208,255	2,945,588	2,825,719	2,805,617	2,601,368	2,424,637	1,832,647	1,856,765	1,676,677	1,411,006	1,340,578	1,317,816	1,232,893	1,136,669	1,062,111	1,035,822	966,318	898,703	902,289	1,190,142	1,138,057	1,275,902	1,269,904	1,654,643	1,627,521	1,588,101	1,399,405	1,344,544	2,378,156	2,404,358	7,483,549	7,339,370	6,074,949	6,530,129	6,007,802	6,313,994	5,762,539	644	670	609	609	609	641	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Non Current Liabilities Total	1,327,703	3,605,614	1,076,567	3,100,888	2,856,840	2,845,634	941,491	885,797	968,261	847,060	833,909	791,951	789,640	713,246	586,352	567,183	501,361	388,478	357,959	1,141,932	1,223,872	1,210,110	1,061,051	1,008,801	961,530	1,778,320	1,998,606	1,928,220	1,311,360	2,216,623	1,158,363	1,207,098	1,143,572	1,094,090	889,941	870,194	748,963	356,980	1,931,452	5,222,721	5,138,986	4,750,111	34,020	113,554	95,841	96,176	95,880	96,672	0	97,535	81,834	84,355	58,555	84,956	85,155	85,652	85,850	86,429	84,986	85,401	86,575	4,729	4,840	38,496	25,000	0	-
Non Currrent Assets Other	668,638	-232,266	-1,364,025	-1,021,743	-751,084	-759,761	-1,105,257	-1,065,437	-1,056,540	-1,052,703	-1,025,884	-931,755	-861,511	-827,022	-809,272	-810,537	-673,828	-649,739	-602,925	190,163	272,045	273,666	1,091,503	1,079,814	1,479,638	1,938,915	2,052,139	1,948,732	2,378,015	2,176,281	2,027,449	1,911,548	1,995,156	2,741,358	2,555,959	7,764,294	7,564,003	-215,420	6,904,599	6,467,903	6,402,410	6,264,861	3,059	7,184	6,182	12,440	5,593	10,178	4,412	4,025	9,735	2,254	835	967	14,494	14,368	30,655	62,237	105,783	141,977	163,746	-252,792	-281,104	-320,232	-72,353	-271,990	-283,090
Noncontrolling Interest In Consolidated Entity	0	0	288,352	281,820	272,416	264,590	269,870	16,520	17,227	16,930	18,031	18,956	0	0	0	0	0	0	0	0	0	0	0	0	0	99,155	99,804	99,130	96,713	94,569	92,924	91,345	84,854	87,175	108,622	111,556	117,264	235,951	362,046	362,732	361,354	354,667	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	2,618,912	403,265	2,245,649	2,083,584	2,702,327	161,715	282,762	454,236	342,635	418,564	501,222	521,735	465,581	318,709	265,137	229,348	239,686	208,781	254,243	261,921	217,274	219,208	228,455	1,023,998	930,725	917,038	872,721	858,871	693,421	693,463	700,364	668,304	687,729	670,709	5,994,482	5,708,761	6,636,146	5,213,448	5,077,100	5,034,190	4,698,283	34	-33	16	135,563	135,438	136,653	136,144	163,420	142,550	150,565	152,559	155,745	161,722	164,831	166,530	169,504	173,119	175,927	177,745	393,487	392,477	-68,336	181,793	-245,596	-274,314
Other Current Assets	1,424,933	1,445,681	1,416,970	1,215,064	1,124,263	1,073,491	892,703	1,190,529	1,150,812	342,635	418,564	-1,143,443	-1,124,655	-1,037,014	-947,299	-513,434	-383,490	-317,303	-323,021	9,964	10,521	10,704	-800,194	-774,919	-704,611	-670,775	-633,113	-585,485	-548,095	-660,161	-687,003	-706,580	-694,712	-628,700	-574,911	-536,361	-494,976	4,275	4,844	18,568	8,632	-76,222	0	0	0	0	5,752	0	0	0	0	0	166	0	648	680	1,822	0	0	0	1,700	22,497	1,297	0	2,900	0	601
Other Current Liab	800,305	-680,720	-681,263	-612,325	-365,725	-550,216	-490,732	-605,328	-424,102	-554,946	-536,266	-502,369	-372,483	-497,100	-475,644	-437,412	-258,655	-314,502	-286,507	77,772	-109,309	-168,636	-248,800	-139,358	523,918	-699,936	-410,388	-786,612	1,134,774	-583,446	1,435,366	1,046,440	1,125,128	3,442,756	3,697,512	13,897,020	13,693,450	-86,759	4,746,170	1,111,592	1,120,735	1,251,224	1,647	1,463	86	83	698	1,794	1,794	2,023	1,786	2,328	3,368	5,168	5,020	7,682	544	2,614	7,166	6,809	3,793	5,537	4,290	10,500	10,100	3,564	1,596
Other Liab	0	0	822,983	0	789,262	726,531	694,414	614,971	841,399	1,130,406	806,545	475,681	439,975	393,924	363,467	341,956	155,484	140,180	129,866	121,492	120,299	117,397	110,391	114,026	1,048,557	685,184	655,125	616,706	605,092	601,559	592,026	574,317	557,370	686,257	543,307	5,714,357	5,495,360	4,649,906	4,948,088	4,849,907	4,788,407	4,495,517	644	670	609	609	609	641	593	1,040	594	2,876	2,620	2,965	3,683	3,993	3,977	3,767	2,803	3,203	4,358	4,729	4,840	6,500	5,435	1,924	-
Other Stockholder Equity	382,239	380,988	379,741	382,502	382,645	380,196	379,371	323,916	317,459	314,060	314,983	313,140	315,014	319,522	318,817	323,064	326,140	325,359	324,321	323,334	331,892	331,538	335,749	260,847	260,989	296,468	256,568	255,383	254,859	254,742	260,046	296,531	297,063	298,589	271,189	273,014	271,090	225,813	101,586	101,572	100,903	97,250	84,216	84,146	84,147	84,046	83,993	83,615	0	83,779	83,729	83,446	-64,982	83,042	293,215	293,165	293,592	292,055	291,592	291,331	291,326	300,163	298,207	298,631	298,444	298,368	298,226
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	-
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	8	8	8	10	10	10	20	31	31	31	31	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	0	0	0	0	0	0	0	0	0	0	41,178	42,341	43,089	35,408	35,505	36,268	36,137	38,112	39,647	38,440	6,122	6,104	5,399	4,453	4,304	5,669	6,050	6,119	5,936	286,890	261,573	254,072	7,024	207,393	208,565	209,079	131,308	0	105,224	105,853	105,061	62,492	41,889	140,959	118,827	119,703	120,579	122,302	122,302	124,185	104,177	104,953	804	106,519	100,022	100,781	101,539	102,298	103,057	104,327	105,130	105,557	96,789	2,970	0	0	-
Property Plant And Equipment Net	61,093	62,614	61,874	60,335	53,328	48,665	49,197	39,752	38,748	40,051	41,178	42,341	43,089	35,408	35,505	36,268	36,137	38,112	39,647	38,440	6,122	6,104	5,399	4,453	4,304	5,669	6,050	6,119	5,936	286,890	261,573	254,072	7,024	207,393	208,565	209,079	131,308	-7,487	105,224	105,853	105,061	62,492	41,889	140,959	118,827	119,703	120,579	122,302	0	124,185	104,177	104,953	804	106,519	100,022	100,781	101,539	102,298	103,057	104,327	105,130	105,557	96,789	2,970	0	0	-
Property Plant Equipment	0	0	61,874	0	53,328	48,665	49,197	39,752	38,748	40,051	41,178	42,341	43,089	35,408	35,505	36,268	36,137	38,112	39,647	38,440	6,122	6,104	5,399	4,453	4,304	5,669	6,050	6,119	5,936	6,059	6,285	6,521	7,024	0	0	0	5,052	0	0	0	0	0	41,889	140,959	118,827	119,703	120,579	121,456	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Retained Earnings	60,663	55,643	55,340	51,201	54,113	54,717	41,964	65,788	68,146	69,961	69,313	62,678	35,423	22,520	11,143	8,725	70,189	67,465	70,340	60,015	57,231	58,346	60,265	60,741	38,079	28,913	32,925	38,220	37,974	30,956	25,785	20,522	15,845	20,367	25,758	11,597	13,379	21,301	21,029	19,958	18,933	16,652	16,163	2,338	3,879	5,743	7,221	9,954	9,954	-4,718	-3,881	-3,577	0	-384	-77,155	-75,253	-66,820	-59,012	-55,139	-51,142	-50,215	-18,266	-11,172	-8,245	-5,130	-5,183	-8,897
Retained Earnings Total Equity	0	0	55,340	51,201	54,113	54,717	41,964	65,788	68,146	69,961	69,313	62,678	35,423	22,520	11,143	8,725	70,189	67,465	70,340	60,015	57,231	58,346	60,265	60,741	38,079	28,913	32,925	38,220	37,974	30,956	25,785	20,522	15,845	20,367	25,758	11,597	13,379	21,301	21,029	19,958	18,933	16,652	16,163	2,338	3,879	5,743	7,221	10,248	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Short Long Term Debt	197,138	111,538	148,578	139,818	60,628	58,568	54,388	161,051	158,533	150,715	145,058	165,960	147,823	148,564	168,409	199,538	114,786	88,839	81,659	85,452	0	0	680	320,508	346,081	866,055	822,450	0	555,267	0	0	0	669,262	0	0	0	363,199	0	0	0	0	0	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	474,997	397,524	431,648	422,546	319,994	335,097	328,657	452,197	393,349	453,701	473,333	502,611	366,246	487,673	429,666	462,099	374,454	360,825	329,259	282,798	354,083	365,272	366,215	320,508	346,081	865,629	821,951	751,885	793,009	774,095	655,233	713,071	673,210	645,532	483,989	493,716	382,859	425,349	285,706	381,266	360,609	238,503	33,376	112,884	95,232	95,567	95,880	96,079	96,079	96,495	81,240	81,479	5,897	84,431	84,630	81,659	81,873	82,069	82,183	82,198	119,998	123,459	115,687	38,496	25,000	0	-
Short Term Debt	197,138	111,538	148,578	139,818	60,628	58,568	54,388	161,051	158,533	150,715	145,058	165,960	147,823	148,564	168,409	199,538	114,786	88,839	81,659	85,452	158,182	175,397	174,587	131,417	147,294	428,163	406,241	397,139	414,557	354,344	260,100	227,850	191,395	201,575	155,602	171,938	140,849	68,369	68,662	55,733	54,871	0	0	0	0	0	0	0	0	0	0	0	27	0	0	0	0	0	0	37,781	37,781	120,008	112,859	0	0	0	-
Short Term Investments	246,489	270,620	361,139	810,445	611,980	584,081	606,462	568,460	577,448	541,121	447,300	409,947	377,133	369,914	345,718	333,703	335,192	315,204	269,054	283,929	283,563	255,784	234,361	212,809	182,448	164,093	147,778	152,529	146,171	137,195	165,025	185,092	184,703	192,387	179,772	176,567	171,128	17,064	17,952	17,662	17,763	17,721	0	0	0	0	0	0	0	0	0	0	0	9,357	0	0	0	0	0	0	0	256,267	285,765	71,076	72,353	271,990	283,090
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	-
Total Assets	3,284,903	4,827,391	4,634,449	4,307,958	4,039,563	3,994,084	3,732,709	3,600,198	3,599,147	3,378,352	3,211,557	3,048,613	2,995,760	2,794,866	2,480,501	2,422,672	2,198,286	2,056,493	1,920,366	1,814,840	1,864,918	1,796,609	1,729,531	1,688,806	1,989,742	2,448,754	2,541,469	2,466,964	2,890,050	2,866,745	2,704,253	2,599,909	2,501,228	3,498,787	3,372,143	8,456,807	8,195,326	7,048,522	7,378,631	6,955,516	6,880,448	6,604,233	142,983	208,360	185,797	187,748	189,071	194,216	194,216	178,630	163,479	166,563	2,199	172,792	306,256	311,267	315,432	322,107	328,626	332,420	370,906	412,192	409,045	339,372	328,398	300,720	292,467
Total Current Assets	1,424,933	1,880,847	2,867,159	1,725,064	1,652,356	985,473	2,465,737	2,251,999	2,088,371	1,983,014	1,767,109	1,615,636	1,612,514	1,502,263	1,352,520	1,346,998	1,295,110	1,167,068	1,108,660	1,038,056	1,036,526	979,749	109,638	100,555	142,237	135,151	115,093	135,121	133,071	88,088	71,243	65,176	88,178	132,741	200,185	74,121	81,032	196,956	144,846	161,054	146,952	123,721	72,348	28,981	46,428	46,648	53,792	52,306	52,306	8,925	13,958	8,722	560	17,047	135,598	137,325	122,689	95,037	54,308	18,240	32,845	298,917	303,630	87,476	74,252	274,326	283,691
Total Current Liabilities	1,380,635	678,204	716,899	665,513	649,150	628,876	490,732	605,328	424,102	554,946	536,266	502,369	372,483	497,100	475,644	437,412	258,655	314,502	286,507	278,253	241,787	190,531	267,664	272,345	631,438	279,296	152,191	144,906	1,188,546	268,781	1,165,425	983,093	959,962	1,997,929	2,076,856	7,189,370	7,044,637	86,759	4,885,900	1,167,325	1,175,606	1,298,344	3,390	3,084	1,919	1,772	1,966	3,964	3,964	2,023	1,786	2,328	8,821	5,168	5,020	7,682	2,789	2,614	7,166	6,809	43,199	125,545	117,149	10,500	10,100	0	3,117
Total Liab	2,708,338	4,283,818	4,088,381	3,766,401	3,505,990	3,474,510	3,207,369	3,217,045	3,198,966	2,976,210	2,806,508	2,651,214	2,622,222	2,433,175	2,133,312	2,078,336	1,786,871	1,649,081	1,513,328	1,420,185	1,465,659	1,400,641	1,328,715	1,281,146	1,592,968	2,057,616	2,150,797	2,073,126	2,499,906	2,485,404	2,323,788	2,190,191	2,103,534	3,092,019	2,966,797	8,059,564	7,793,600	6,500,758	6,817,352	6,390,046	6,314,592	6,048,455	37,410	116,638	97,760	97,948	97,846	100,636	100,636	99,558	83,620	86,683	67,376	90,124	90,175	93,334	88,639	89,043	92,152	92,210	129,774	130,274	121,989	38,496	25,000	7,514	3,117
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,583	744	407,660	396,774	391,138	390,672	393,838	390,144	381,341	380,465	0	0	0	0	0	0	0	0	0	0	0	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	416,866	396,091	401,892	400,647	397,365	387,279	390,405	366,633	382,954	385,212	387,018	378,443	356,144	347,738	335,821	333,853	398,062	394,775	396,085	383,635	387,101	386,878	393,652	320,148	300,077	326,647	290,868	294,708	293,431	286,772	287,541	318,373	312,840	319,593	296,724	285,687	284,462	247,263	122,829	121,665	119,911	114,234	100,390	86,495	88,037	89,800	91,225	93,580	93,580	79,072	79,859	79,880	-65,177	82,668	216,081	217,933	226,793	233,064	236,474	240,210	241,132	281,918	287,056	290,407	293,335	293,206	289,350
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	-33,831	-34,593	-34,672	-39,714	-41,885	-42,532	-42,532	-36,382	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-8,824	-8,824	-8,334	-8,334	-8,334	-8,330	-8,330	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	5,183	5,227	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-

Cash Flow

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31
Begin Period Cash Flow	550,847	204,446	200,154	151,727	99,384	152,770	63,010	69,400	52,987	120,557	88,563	52,306	5,032	704	31,800	15,319	0
Capital Expenditures	14,030	10,727	2,764	6,694	8,519	3,749	2,888	7,159	5,662	245	13	29	260	290	0	0	204,272
Cash And Cash Equivalents Changes	0	357,401	4,292	48,427	52,343	-53,386	58,190	-6,390	16,413	-39,209	31,994	-5,878	47,274	0	0	0	0
Cash Flows Other Operating	0	-112,089	-157,008	-85,354	3,839	-35,301	-75,964	-98,338	-34,249	72,430	-33,044	-399	-3,009	0	0	0	0
Change In Cash	-58,286	346,401	-5,068	43,548	45,206	-56,246	47,657	-6,390	16,413	-67,570	31,994	-5,878	47,274	-495	90,712	16,481	15,319
Change In Working Capital	-12,473	-1,961,945	-3,683,363	-2,975,441	-1,985,582	-1,502,961	-1,598,342	-1,775,462	-1,144,064	-31,320	-5,396	-3,149	2,006	25	-1,767	358	8,154
Change Receivables	0	-308,481	-207,205	-165,366	-152,567	-102,640	-101,341	-48,877	-128,777	-7,932	0	0	0	0	0	0	0
Change To Account Receivables	-505,700	-295,254	-152,827	-116,839	-119,482	-67,384	-53,256	-35,185	-102,958	0	0	0	0	68	0	0	-3,136
Change To Inventory	240,109	0	-3,707,097	-3,034,360	-1,908,769	-1,481,629	-1,569,134	-1,737,843	-1,106,211	0	0	0	0	257	0	0	14,177
Change To Liabilities	0	594,630	565,383	339,282	211,374	168,345	121,128	44,830	177,526	10,519	9,996	-1,627	2,367	0	620	116	4,628
Change To Netincome	0	260,162	-69,896	56,010	-74,470	-17,122	63,784	76,110	-78,748	581	-19,917	-1,175	-11,732	0	0	0	0
Change To Operating Activities	0	93,895	-156,293	-51,076	-114,431	-27,422	-31,924	39,538	-135,674	-26,528	0	0	0	0	0	0	0
Depreciation	23,466	22,973	24,437	17,578	13,569	12,596	29,992	28,543	45,124	10,866	6,521	3,970	3,611	70	3,415	1,554	725
Dividends Paid	13,731	7,775	5,409	5,566	5,502	4,781	3,499	3,191	3,313	370	366	5,565	4,116	3	13,779	14,279	3,573
End Period Cash Flow	492,561	550,847	195,086	195,275	144,590	96,524	110,667	63,010	69,400	52,987	120,557	46,428	52,306	210	122,512	31,800	15,319
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	57,422	452,346	201,552	133,475	15,223	53,975	44,031	29,484	-11,947	90,803	-18,399	597	7,570	1,151	6,654	13,029	-192,401
Investments	-244,669	34,459	-279,857	-114,965	-25,361	-123,063	62,137	-134,746	-167,216	208,948	-158,521	385	50,339	0	0	0	0
Issuance Of Capital Stock	0	181,919	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	-302,158	90,821	53,338	55,039	13,980	31,446	124,129	251,163	-121,229	194,050	-1,223	14,281	0	0	0	0
Net Income	13,851	3,561	44,051	-25,225	20,122	29,883	5,234	32,338	8,802	4,584	16,418	-510	16,534	3,752	-2,826	-30,806	-1,557
Other Cashflows From Financing Activities	283,840	2,461,981	-3,646	-6,705	-4,110	1,766	-232,741	195,938	-2,920	492,650	746,660	-525	15,234	2	135,966	-1,012	9,337
Other Cashflows From Investing Activities	0	-14,218	8,862	-1,832	25,553	17,705	146,428	-178,080	-42,237	-702,327	-509,275	86	656	0	0	0	0
Other Non Cash Items	1,309	2,341,231	3,790,331	3,104,407	1,962,455	1,507,538	1,614,724	1,742,193	1,101,049	98,161	-40,715	142	-1,521	5,887	-6,610	28,109	4,549
Sale Purchase Of Stock	0	-1,727	-8,145	-13,889	-9,085	-14,111	-7,300	-43,754	-3,982	21,451	-2	-72	0	-1,364	-4	-8,330	0
Stock Based Compensation	8,275	9,705	11,130	8,117	6,363	6,657	6,560	2,584	2,357	9,006	2,559	259	56	13,944	2,270	1,212	0
Total Cash From Financing Activities	128,189	-115,186	73,735	31,749	36,928	-2,003	-194,406	276,952	237,813	363,908	739,562	-6,860	10,165	-1,421	-51,908	71,377	230,764
Total Cash From Operating Activities	71,452	463,073	204,316	140,169	23,742	57,724	46,919	36,643	-6,285	91,048	-18,386	626	7,830	1,441	6,654	13,029	11,871
Total Cashflows From Investing Activities	0	9,514	-273,759	-123,491	-8,327	-109,107	205,677	-319,985	-215,115	-494,165	-689,182	356	29,279	16,125	135,966	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
Begin Period Cash Flow	537,362	397,999	425,930	550,847	513,832	351,313	197,529	204,446	172,084	177,936	177,173	200,154	181,597	157,911	154,201	151,727	153,957	189,366	101,141	99,384	93,513	109,638	100,555	152,770	111,751	75,764	67,190	63,010	65,995	56,181	43,225	69,400	98,737	170,100	46,420	81,348	179,892	122,050	124,824	120,557	123,721	69,002	27,757	46,428	46,648	48,040	49,867	8,907	8,907	13,938	8,346	5,032	19,841	134,894	136,586	122,512	94,701	53,751	17,355	31,800	17,538	15,383	14,889	15,319	23,919	7,786
Capital Expenditures	1,527	922	6,634	4,947	5,413	2,231	2,548	535	661	912	794	397	1,985	1,626	1,628	1,455	653	1,831	2,804	3,231	507	618	1,418	1,206	809	380	419	1,280	1,796	1,682	3,007	674	2,872	579	1,724	487	120	108	15	2	8	40	5	2	28,994	6	23	238,943	0	20,829	7	221	0	0	0	0	0	0	0	0	100,800	100,800	97,830	2,970	0	0
Cash And Cash Equivalents Changes	0	0	-29,175	-126,175	32,010	166,160	153,599	5,632	20,043	-448	361	-15,664	12,379	25,561	2,920	7,567	-7,002	-34,224	89,043	4,526	2,140	-16,246	11,064	-50,344	9,449	35,987	8,574	4,180	-2,985	9,814	12,956	-26,175	-976	-71,363	68,607	20,145	-98,544	57,842	-43,647	45,140	-3,164	12,584	41,245	-18,671	-220	-1,392	-1,827	-2,439	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	0	-11,129	13,829	-11,487	-50,321	-19,555	-30,726	-33,835	-40,690	-34,888	-47,595	-29,678	-22,976	-17,171	-15,529	26,272	-8,854	-15,116	1,537	21,150	-19,562	-15,160	-21,729	-17,029	-24,460	-25,853	-8,622	-90,318	-7,124	-4,324	3,428	2,950	-4,292	40,329	-73,236	32,677	1,377	3,848	34,528	-9,866	-22,374	-267	-537	640	-808	153	-384	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	-44,801	139,363	-27,931	-124,917	37,015	162,519	153,784	-6,917	23,002	-5,852	763	-22,981	13,678	23,686	3,710	2,474	-9,367	-35,409	88,225	1,757	3,011	-16,125	9,083	-52,215	-1,084	35,987	8,574	4,180	-2,985	9,814	12,956	-26,175	-29,337	-71,363	123,680	-34,928	-126,905	57,842	-2,774	4,267	-3,164	54,719	41,245	-18,671	-220	-1,392	-1,827	43,399	43,399	-5,031	5,592	3,314	-19,631	-115,053	-1,692	14,074	27,811	40,950	36,396	-14,445	14,262	2,155	494	-430	-8,600	16,133
Change In Working Capital	-45,367	-209,578	-260,517	-173,877	-158,929	-198,371	-615,985	-988,660	-1,717,890	-310,419	-745,949	-909,105	-904,372	-814,012	-680,584	-576,473	-650,726	-540,359	-428,968	-365,529	-370,899	-376,772	-375,838	-379,452	-428,966	-425,269	-391,602	-352,505	-504,916	-529,993	-397,509	-343,044	-358,806	-782,750	22,675	-25,183	-77,596	-3,616	39,596	10,296	-61,195	55,560	1,296	-1,057	-478	-364	-254	1,894	41,440	-67	-559	738	-2,212	-401	-2,424	5,062	-335	-3,530	286	1,812	663	3,123	-3,028	-400	2,748	2,354
Change Receivables	0	0	-326,671	-105,688	2,697	-168,953	-1,004	-141,221	-50,156	-103,479	-92,356	38,786	-79,566	-92,080	-6,470	12,750	-106,330	-36,599	-3,973	-5,665	-23,722	-49,746	-4,494	-24,678	-41,767	-8,532	-25,249	-25,793	-3,676	-4,619	9,096	-49,678	-61,204	-32,284	-35,289	0	-7,932	0	0	0	0	49,935	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	-214,288	-22,707	-147,355	-121,350	18,237	-164,403	-79,972	-69,116	-53,637	-64,448	-49,021	14,279	-81,438	-55,537	-10,081	30,217	-86,951	-25,467	-6,419	-645	-27,719	-19,487	-10,734	-9,444	-19,944	5,698	-23,470	-15,540	-6,948	-4,514	18,283	-42,006	-35,385	-32,284	0	0	0	10,197	62,874	0	0	49,318	0	-1,224,000	0	0	0	0	0	0	0	0	0	89	121	119	0	0	0	0	315	733	714	-315	1,675	-3,220
Change To Inventory	101,679	-211,355	-227,471	0	0	0	0	0	-1,713,913	-293,543	-774,189	-925,452	-898,571	-817,388	-707,689	-610,712	-584,119	-526,796	-436,016	-361,838	-360,994	-375,537	-367,862	-377,236	-420,504	-426,261	-367,469	-354,900	-519,742	-513,538	-401,637	-302,926	1,710	0	0	0	0	0	0	0	0	0	0	1,493,255	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	236	0	0	388	11,474	0
Change To Liabilities	0	0	305,178	120,818	43,254	300,696	62,882	155,338	150,358	200,368	124,572	10,897	164,498	171,893	36,615	-33,724	85,922	89,548	47,085	-11,181	63,836	81,159	2,459	20,891	58,712	29,992	20,458	11,966	6,729	17,963	-3,707	23,845	41,795	53,039	51,535	31,157	-39,075	-15,097	53,481	11,210	-5,718	14,213	1,788	-287	203	406	-183	-2,053	600	172	0	419	0	360	275	0	620	989	4,404	4,319	116	24	0	0	4,628	5,590
Change To Netincome	0	0	11,131	5,873	16,156	9,094	12,285	159,325	-56,526	-26,363	-27,558	-12,396	-5,821	-68,583	12,585	117,829	-10,285	-29,549	-33,842	-794	-51,703	18,453	19,623	-3,495	3,070	-5,236	4,610	61,340	139,635	-47,415	-34,548	18,438	-9,275	-1,014	-97,685	29,226	8,893	-8,825	2,165	-1,652	-1,349	-2,619	-15,708	-241	-211	-270	-342	-352	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	0	0	0	20,329	-65,534	76,298	62,802	-71,180	-82,603	6,702	-9,212	-25,633	-105,324	48,208	31,673	-55,133	-30,722	-40,016	11,440	-24,514	3,599	1,441	-7,948	-31,658	-32,306	-43,149	414,560	39,732	504,576	394,490	358,036	-135,674	0	0	0	-26,528	0	0	0	0	0	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	5,991	6,347	5,875	5,253	5,259	5,549	6,009	6,156	6,176	6,119	6,208	5,934	5,334	4,010	4,371	3,863	3,661	3,523	3,291	3,094	3,485	3,200	2,953	2,958	5,872	7,888	8,311	7,921	6,644	6,437	7,085	8,377	8,267	10,034	11,358	15,465	10,866	-6,415	2,811	1,498	4,286	4,490	1,141	1,094	1,002	992	994	991	991	884	868	868	-2,606	993	842	841	842	841	855	877	375	1,133	-174	220	529	171
Dividends Paid	3,447	3,427	3,411	3,446	3,070	1,891	1,416	1,398	1,389	1,360	1,334	1,326	1,367	1,386	1,398	1,415	1,423	1,418	2,661	1,280	1,280	1,301	2,200	895	895	898	1,706	709	709	734	1,748	3,102	3,102	4,321	2,094	370	370	0	0	0	1,233	1,233	1,599	1,388	1,388	1,389	2,788	1,373	1,373	1,372	1,371	0	3	3	3	3	3,450	3,443	3,456	3,430	3,561	3,558	3,586	3,574	3,573	0
End Period Cash Flow	492,561	537,362	397,999	425,930	550,847	513,832	351,313	197,529	195,086	172,084	177,936	177,173	195,275	181,597	157,911	154,201	144,590	153,957	189,366	101,141	96,524	93,513	109,638	100,555	110,667	111,751	75,764	67,190	63,010	65,995	56,181	43,225	69,400	98,737	170,100	46,420	52,987	179,892	122,050	124,824	120,557	123,721	69,002	27,757	46,428	46,648	48,040	52,306	52,306	8,907	13,938	8,346	210	19,841	134,894	136,586	122,512	94,701	53,751	17,355	31,800	17,538	15,383	14,889	15,319	23,919
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
Free Cash Flow	-23,641	56,276	-13,312	38,099	56,803	114,113	132,898	148,532	17,616	39,524	117,479	26,933	69,969	6,274	33,475	23,757	3,663	15,754	7,197	-11,391	13,615	32,821	5,294	2,245	21,580	-3,069	-22,364	47,884	66,900	-27,795	-21,548	11,927	-21,472	19,329	-9,910	106	25,230	-34,960	56,443	44,090	-59,494	40,063	1,056	-50	-27,771	289	531	-235,704	24,036	-19,437	765	2,206	9,239	-5,174	-1,594	-1,030	2,029	-1,632	3,024	3,233	104,104	108,966	-98,548	-693	4,944	5,139
Investments	-99,948	127,872	-21,240	-220,046	-13,931	54,700	-4,879	-18,780	-80,411	-74,638	-83,510	-42,092	-31,703	-28,627	11,866	-66,501	-77,713	-85,664	42,674	95,342	-19,194	-47,530	-32,359	-23,980	35,303	-24,733	29,109	22,458	-68,254	-38,100	-482	-27,910	-21,219	-191,994	53,977	-7,980	238,416	-74,095	58,800	-14,173	-44,024	-101,147	2,412	-15,762	70	56	173	86	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	0	13,468	87,827	-7,148	4,181	-174,031	-125,162	83,034	36,271	-31,468	3,046	4,804	49,173	-36,452	35,813	66,859	39,832	21,293	-72,945	5,877	-1,914	42,398	-32,381	-31,314	42,852	69,498	-49,590	17,776	118,772	-58,231	45,812	45,199	106,717	-11,181	110,428	-163,902	144,065	-101,392	0	90,133	104,695	-369	-409	-125	-348	-303	-447	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	6,828	8,868	11,850	3,151	6,118	20,057	-21,748	-866	1,016	3,347	9,048	30,640	16,165	14,741	4,439	-60,570	4,566	-949	12,204	4,301	528	-527	876	29,006	12,594	-3,378	-5,324	1,342	10,065	7,838	7,021	7,414	-2,585	-6,388	19,794	-2,019	24,610	-13,486	-4,345	-2,195	4,428	-1,909	14,047	-148	-476	-89	-239	16,045	16,045	535	1,067	-1,113	21,077	-6,993	-1,902	-8,430	-4,358	-430	-540	2,503	-28,388	-3,536	659	459	3,626	3,714
Other Cashflows From Financing Activities	156,936	345,346	360,151	364,132	248,981	297,551	892,807	1,022,642	-2,200	397,087	-1,168	100	-1,158	-2,106	-1,208	-2,233	739,638	619,796	488,605	382,519	711	535	422,022	363,003	-8,417	299,703	415,344	364,226	-23,272	-4,082	674,756	407,154	488,791	-61,206	178,398	288,102	299,425	76,471	372,945	-33,691	49,582	703,570	-1,599	-38	173	-73	12,259	-64	-64	15,298	6,392	1,055	178,703	-121,995	89	15,811	29,428	-4	36,844	23,552	-7,556	7,638	74,615	13,575	20,494	10,994
Other Cashflows From Investing Activities	0	0	2,804	-22,530	-4,648	-9,238	-6,474	583	8,604	133	-2,701	125	-3,473	-20,008	999	20,650	2,355	-1,082	21,725	2,555	2,702	5,619	5,184	4,200	-14,658	196,745	-39,706	4,047	3,252	-33,883	-91,066	-56,383	-171,757	62,700	25,578	41,242	-493,646	112,499	-336,716	15,536	56,696	-609,973	44,002	0	86	86	0	-632	656	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Non Cash Items	-2,149	238,073	223,200	202,205	189,765	283,644	741,501	1,126,321	1,714,609	339,448	845,266	891,008	939,294	790,299	700,109	674,705	641,236	554,712	418,668	347,839	384,410	407,212	376,969	338,947	439,482	418,967	366,833	389,442	549,241	485,852	363,992	343,108	329,678	809,898	-12,618	-14,440	65,269	-9,714	19,621	34,097	-11,638	-13,577	-31	-4	1,264	-323	-400	-97	-97	-296	-534	-594	8,930	-1,343	-963	-737	108	-4,240	77	-2,555	25,911	2,243	-935	890	-1,959	-1,100
Sale Purchase Of Stock	0	0	-7,484	-6,079	-73	-718	-936	1,857	-5,263	-2,450	-432	-2,450	-4,724	-665	-4,555	-3,945	-743	-1,646	-1,185	-9,085	-361	-4,892	-8,671	-187	7,300	-527	-7,300	1,318	43,754	-6,150	-36,753	-851	-1,068	-521	-2,339	1,718	-162,987	467	0	0	2	2,757	0	-2	-72,000	0	-72	0	0	0	0	-874	-874	0	0	-490	0	0	0	0	0	0	0	0	0	0
Stock Based Compensation	2,320	1,861	1,880	2,214	1,794	1,696	45	6,170	7,413	1,504	1,148	1,065	1,959	2,489	2,053	1,616	1,851	1,514	1,590	1,408	2,853	1,520	1,051	1,233	2,285	1,135	1,342	1,798	888	668	640	388	343	2,014	-43,114	31,645	-49	-531	527	53	2,390	29	71	69	101	53	36	11	0	15	49	30	13,781	50	50	63	1,537	463	265	5	502	947	-424	187	0	0
Total Cash From Financing Activities	75,021	-41,270	2,573	78,302	-10,862	-2,653	23,032	-124,703	74,234	34,533	-34,402	-630	-1,514	47,022	-43,420	29,661	64,693	36,768	17,447	-81,980	5,017	-7,156	32,945	-32,809	-32,776	-132,956	41,535	-70,209	-4,883	109,592	126,052	46,191	129,479	38,897	-1,038	70,475	127,390	57,907	219,484	-40,873	43,658	698,283	-1,968	-411	-1,513	-1,737	-3,163	-1,816	-1,816	13,721	-1,572	-168	121,644	-122,171	-187	-707	-3,646	-3,560	-3,472	-41,230	-12,010	3,445	70,046	9,896	20,494	210,270
Total Cash From Operating Activities	-22,114	57,198	-6,678	43,046	62,216	116,344	135,446	149,067	18,277	40,436	118,273	27,330	71,954	7,900	35,103	25,212	4,316	17,585	10,001	-8,160	14,122	33,439	6,712	3,451	22,389	-2,689	-21,945	49,164	68,696	-26,113	-18,541	12,601	-18,600	19,908	-8,186	593	25,350	-34,852	56,458	44,092	-59,502	40,103	1,061	-48	1,223	295	554	3,239	3,239	1,392	772	2,427	9,239	-5,174	-1,594	-1,030	2,029	-1,632	3,024	3,233	3,304	8,166	-718	2,277	4,944	5,139
Total Cashflows From Investing Activities	0	0	-25,070	-247,523	-19,344	52,469	-4,879	-18,732	-72,468	-75,417	-83,510	-42,364	-58,061	-29,361	11,237	-47,306	-76,011	-88,577	61,595	94,666	-16,999	-42,529	-28,593	-20,986	19,836	171,632	-11,016	25,225	-66,798	-73,665	-94,555	-84,967	-111,855	-130,168	77,831	-50,923	-251,284	34,787	-277,668	1,048	12,680	-725,802	42,152	-18,212	70	50	782	-546	29,279	0	7,447	1,055	16,125	15,953	15,900	15,811	135,966	106,538	60,396	23,552	0	0	0	0	0	0

Income Statement

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31
Cost Of Revenue	0	182,657	207,322	172,737	129,479	414,555	115,949	139,612	1,859	81,905	-3,250	1,440	11,376	25,486	12,153	44,271	14,339
Depreciation And Amortization	23,466	22,973	24,437	17,578	13,569	12,596	29,992	28,543	45,124	10,866	4,467	3,970	3,611	70	3,415	1,554	725
Discontinued Operations	0	0	0	0	0	43,770	-6,222	-4,287	22,618	7,937	17,110	0	0	0	0	0	0
Ebit	-26,146	50,248	13,106	-94,695	-32,510	7,217	43,589	196,022	69,479	20,529	45,986	5,714	22,289	3,860	3,532	-9,092	15,541
Ebitda	-2,680	73,221	37,543	-77,117	-18,941	19,813	73,581	224,565	114,603	31,395	50,453	9,684	25,900	3,930	6,947	-7,538	16,266
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	43,770	11,240	-4,287	10,953	3,582	17,110	0	0	0	0	0	0
Gross Profit	1,634,116	1,215,095	995,120	637,564	643,249	211,271	463,855	427,542	438,257	80,313	100,907	14,522	14,476	34,016	20,009	22,259	12,916
Income Before Tax	83,053	54,011	65,342	-38,852	29,139	-19,796	-3,330	43,316	-12,439	788	6,249	-510	16,534	-2,826	-2,826	-30,806	0
Income Tax Expense	43,056	50,450	21,291	-13,627	9,017	-5,909	-12,562	10,978	1,377	4,141	6,941	6,634	24,917	60	2,113	12,920	17,098
Interest Expense	27,692	30,240	37,674	32,582	27,059	27,013	25,562	29,701	23,491	12,541	17,517	6,310	5,755	11	6,510	4,521	134
Interest Income	52,354	24,170	28,286	22,363	32,326	13,742	16,229	18,908	0	0	0	0	0	0	0	0	0
Minority Interest	-26,046	11,835	5,919	17,394	1,761	12,158	1,630	7,018	84,854	6,294	25,617	0	0	0	0	0	0
Net Income	13,951	3,561	38,132	-25,225	18,361	23,933	3,604	25,320	5,779	-1,710	-9,199	-510	16,534	3,752	-2,826	-30,806	-1,557
Net Income Applicable To Common Shares	0	-8,274	38,132	-29,158	18,361	23,933	3,604	25,320	5,779	-1,710	8,845	-510	16,534	0	0	0	0
Net Income From Continuing Ops	39,997	3,561	44,051	-25,225	20,122	-13,887	9,232	32,338	-13,816	-3,353	-692	5,714	21,210	0	0	0	0
Net Interest Income	-39,940	-47,780	-55,125	-47,185	-39,259	-35,870	-34,384	-37,780	0	0	0	0	0	0	0	0	0
Non Operating Income Net Other	0	0	0	0	0	56,860	0	0	0	0	0	399	2,783	0	0	0	0
Non Recurring	0	30,240	37,674	-32,582	-27,059	-27,013	-25,562	-29,701	-25,350	-18,662	-17,517	0	0	0	0	0	0
Operating Income	-26,146	50,248	13,106	-94,695	-32,510	45,037	-13,787	23,062	-5,550	-6,196	1,830	5,315	3,100	3,760	7,856	-22,012	15,541
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	1,523,371	1,343,741	1,137,100	849,153	743,589	645,622	583,134	523,838	452,555	79,525	91,408	10,647	11,376	30,204	12,153	40,145	2,625
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	23,466	22,973	24,437	17,578	13,569	12,596	29,992	0	0	0	0	0	0	0	0	0	0
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	0	0	0	0	0	0	241,835	147,253	105,751	4,287	2,344	0	0	0	11,653	6,623	0
Selling General Administrative	261,324	182,657	288,270	172,737	129,479	113,557	157,373	189,186	130,339	43,042	44,107	4,756	7,765	30,135	2,235	4,105	11,714
Tax Provision	43,056	50,450	21,291	-13,627	9,017	-5,909	-12,562	10,978	-753	0	0	0	0	0	0	0	0
Total Operating Expenses	921,577	1,161,084	-1,189,336	-904,996	-805,238	204,054	548,666	391,386	363,748	80,388	61,394	9,207	11,376	30,204	12,153	40,145	-2,625
Total Other Income Expense Net	83,053	3,763	52,236	55,843	61,649	38,062	4,136	61,780	43,065	19,747	5,760	410	19,162	-49	-4,245	-8,794	0
Total Revenue	1,634,116	1,397,752	1,202,442	810,301	772,728	625,826	579,804	567,154	440,116	80,313	97,657	15,962	14,476	34,016	20,009	22,259	12,916

	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
Cost Of Revenue	0	45,663	44,383	40,798	134,395	38,210	48,262	56,455	30,053	48,643	45,693	52,924	-380,169	45,715	40,678,000	38,501,000	-358,924	34,176,000	30,969,000	29,153,000	-223,361	28,873	29,035	27,788	-370,348	36,596	36,732	36,109	-260,067	248	105,604	383	1,859	115,168	96,785	89,944	41,345	15,569	-336	-344	404	-13,056	38	366	1,440	363,000	358,000	351,000	4,030	2,586	2,347	2,413	3,083	9,062	3,500	9,841	4,411	2,760	3,146	1,836	33,196	6,609	1,810	2,656	1,290	1,279	-
Depreciation And Amortization	5,991	6,347	5,875	5,253	5,259	5,549	6,009	6,156	6,176	6,119	6,208	5,934	5,334	4,010	4,371	3,863	3,661	3,523	3,291	3,094	3,485	3,200	2,953	2,958	5,872	7,888	8,311	7,809	6,644	6,437	7,085	8,377	8,267	10,034	11,358	15,465	6,289	2,290	1,803	1,563	1,085	1,215	1,141	1,094	1,002	992	994	991	991	884	868	868	-2,606	993	842	841	842	841	855	877	375	1,133	-174	220	529	171	-
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	9,289	9,289	9,289	624	-6,222	-143,423	54,471	-3,998	-4,287	0	0	0	-730	0	21,003	2,345	7,937	0	0	0	841	0	16,269	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Ebit	-9,300	27,857	9,788	14,638	3,019	24,794	13,282	9,153	20,233	10,902	19,377	46,585	31,737	20,240	11,457	-73,637	16,334	4,625	21,779	12,075	-6,113	6,196	-8,167	-11,908	-4,744	13,772	44,215	44,279	147,050	19,637	17,497	11,838	21,153	17,718	17,541	13,068	-24,772	-5,392	7,593	11,477	-15,537	27,430	-1,852	1,503	1,084	1,477	1,694	17,661	-66	-79	-178	1,978	12,596	-5,124	657	-5,300	-3,269	2,306	2,938	2,973	-30,447	9	3,285	2,178	-3,042	8,534	-
Ebitda	-3,309	34,204	15,663	19,891	8,278	30,343	19,291	15,309	26,409	17,021	25,585	52,519	37,071	24,250	15,828	-69,774	19,995	8,148	25,070	15,169	-2,628	9,396	-5,214	-8,950	1,128	21,660	52,526	52,088	153,694	26,074	24,582	20,215	29,420	27,752	28,899	28,533	-18,483	-3,102	9,396	13,040	-14,452	28,645	-711	2,597	2,086	2,469	2,688	18,652	925	805	690	2,846	9,990	-4,131	1,499	-4,459	-2,427	3,147	3,793	3,850	-30,072	1,142	3,111	2,398	-2,513	8,705	5,025
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	-
Extraordinary Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	9,289	0	0	0	0	0	0	0	0	0	0	0	14,274	0	0	0	3,582	0	0	0	17,110	0	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	442,220	370,851	360,135	340,827	235,133	325,268	291,581	268,448	289,481	238,348	254,352	241,764	257,395	178,326	-40,478,806	-38,371,329	208,568	-33,986,815	-30,785,526	-28,969,097	152,377	143,795	123,674	120,284	93,507	127,923	121,138	127,799	167,475	133,873	133,752	131,423	131,979	119,089	99,179	88,010	-19,386	40,618	29,429	29,988	28,754	28,073	1,667	4,153	2,570	-359,001	-354,023	3,964	3,964	3,517	3,474	3,521	22,768	3,700	3,590	3,959	3,819	5,014	5,074	6,142	7,022	6,618	3,791	4,834	6,216	6,124	288
Income Before Tax	30,065	21,141	23,674	8,173	25,031	25,125	4,807	-952	10,891	3,584	11,475	39,392	24,568	13,897	4,434	-81,751	9,877	-1,598	15,705	5,155	-13,192	-1,138	1,577	-7,043	6,791	-5,430	-7,199	2,508	15,745	11,550	11,046	4,975	-1,440	-3,559	-1,580	-5,860	19,908	-13,506	-3,848	-1,766	6,820	3,335	-2,221	-148	-476	-88	-239	-3,088,000	16,045	535,000	1,067	-1,113	-2,826	-5,598	-1,902,000	-8,430	-2,826,000	-430	-540	2,503	-30,806	-3,538	659	459	3,626	3,714	-
Income Tax Expense	13,937	12,273	11,824	5,022	18,913	5,068	26,555	-86	9,875	237	2,427	8,752	8,403	-844	-5	-21,181	5,311	-649	3,501	854	-4,431	-611	701	-1,568	-9,801	-2,052	-1,875	1,166	5,680	3,712	4,025	-2,439	415	2,829	-371	-1,496	3,235	-20	497	429	2,392	1,434	-15,799	1,734	294	1,646	1,680	489	0	395	62	2,221	-17,325	1,632	1,993	1,969	1,533	1,524	2,468	820	-2,420	1,711	1,536	0	-6,668	0	4,449
Interest Expense	7,467	6,716	7,044	6,465	5,403	5,503	9,135	10,199	10,784	8,657	8,981	9,252	9,064	8,321	7,646	7,551	6,876	6,731	6,532	6,920	7,078	7,334	6,655	5,946	2,882	10,361	9,304	8,779	8,931	7,839	6,451	6,480	5,839	6,329	6,194	5,129	8,180	8,500	6,259	5,962	5,509	4,110	369	1,651	1,560	1,565	1,599	1,616	1,616	1,411	1,374	1,354	4,303	1,420	1,458	1,438	1,469	1,472	1,458	2,111	1,928	1,711	466	416	134	0	-
Interest Income	25,680	8,046	11,488	7,140	5,926	5,627	0	6,601	12,781	5,344	5,173	4,972	5,288	4,986	3,925	8,164	8,115	7,680	4,050	4,023	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-9,257	-6,715	5,861	4,213	5,247	5,834	-660	94	1,442	1,339	18,031	2,059	17,394	1,978	623	-563	419	12,637	458	376	363	91	50	5,446	2,533	-264	-881	242	7,832	1,933	-888	-1,859	84,854	0	0	0	8,647	-1,904	-747	298	18,593	7,008	16	4,534	8,457	14,424	8,043	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Net Income	6,871	8,868	5,989	3,151	6,118	20,057	-21,748	-866	-426	2,008	7,969	28,581	14,270	12,763	3,816	-60,007	4,147	-1,457	11,746	3,925	165	-618	826	23,560	10,061	-3,114	-4,443	1,100	7,727	5,905	6,133	5,555	-3,651	-4,553	14,962	-979	15,963	-11,582	-3,598	-2,493	-4	-5,107	14,032	-148	-476	-88	-239	16,045	16,045	535	1,067	-1,113	21,077	-6,993	-1,902	-8,430	-4,358	-430	-540	2,503	-28,388	-3,538	659	459	3,626	3,714	-4,449
Net Income Applicable To Common Shares	0	0	5,989	-1,062	871	14,223	-22,408	-960	-426	2,008	7,969	28,581	14,270	12,763	3,816	-60,007	4,147	-1,457	11,746	3,925	165	-618	826	23,560	10,061	-3,114	-4,443	1,100	2,206	5,905	6,133	11,076	-3,651	-4,553	14,962	-979	-4,078	272	1,071	1,025	-6,869	1,830	14,032	-148	-477	-88	-239	294	16,045	535	1,067	0	0	0	0	0	0	0	-2,503	2,503	0	-661	661	459	3,626	3,714	-
Net Income From Continuing Ops	16,128	8,868	11,850	3,151	6,118	20,057	-21,748	-866	1,016	3,347	9,048	30,640	60,225	13,053	4,429	-102,932	4,566	-949	12,204	4,301	-8,761	-527	876	-5,475	16,592	-3,378	-5,324	1,342	10,065	7,838	7,021	7,414	-1,855	-6,388	-1,209	-4,364	16,673	-13,486	-4,345	-2,195	-2,078	1,901	-1,852	1,337	1,083	1,477	1,274	1,880	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Net Interest Income	-10,317	-9,894	-10,072	-9,657	-9,674	-9,633	-9,135	-14,801	-15,414	-13,023	-13,241	-13,447	-12,856	-11,994	-11,208	-11,127	-10,419	-9,830	-9,612	-9,398	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	10,676	0	0	46,184	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	97	-71	98	99	-320	522	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Non Recurring	0	0	7,044	6,465	5,403	5,503	9,135	10,199	10,784	8,657	8,981	9,252	-9,064	-8,321	-7,646	-7,551	-6,876	-6,731	-6,532	-6,920	-7,078	-7,334	-6,655	-5,946	2,882	-10,361	-9,304	-8,779	-8,300	-8,087	-6,451	-6,863	-6,349	-6,329	-6,194	-6,478	2,059	-8,500	-6,259	-5,962	-21,627	4,110	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	-9,300	270,705	9,788	14,638	3,019	24,794	13,282	9,153	20,233	168,298	190,294	183,714	-25,225	130,625	115,651,000	47,446,000	-29	-949,000	12,204,000	20,151	1,170	11,727	-3,978	-7,585	5,727	-8,013	-10,094	-1,407	5,540	7,518	6,134	3,870	6,684	-2,136	-3,496	-6,602	-29,697	-5,392	-1,700	240	-9,607	7,445	-1,949	1,408	986	1,378	1,594	-66	-66	930	1,129	1,108	14,962	-5,361	91	-5,878	-592	2,254	1,928	4,264	-26,174	9	1,975	2,178	-3,042	8,534	5,025
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	-
Other Operating Expenses	404,688	145,809	380,844	373,452	344,497	338,353	335,036	325,855	308,643	283,407	288,570	255,296	232,827	210,144	194,760	211,422	198,691	190,783	167,769	178,748	165,569	173,806	151,132	155,115	86,716	169,949	165,069	161,400	151,730	122,571	122,706	126,831	135,278	122,648	100,759	93,870	39,294	54,124	32,941	31,754	22,338	24,738	3,654	3,111	3,024	2,621	2,383	4,030	4,030	2,587	2,345	2,413	7,805	9,061	3,499	9,837	4,411	2,760	3,146	1,878	33,196	6,609	1,816	2,656	9,258	2,410	4,737
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	-
Reconciled Depreciation	5,991	6,347	5,875	5,253	5,259	5,549	6,009	6,156	6,176	6,119	6,208	5,934	5,334	4,010	4,371	3,863	3,661	3,523	3,291	3,094	3,485	3,200	2,953	2,958	5,872	7,888	8,311	7,921	6,644	6,437	7,085	8,377	8,267	10,034	11,358	15,465	0	0	0	0	0	0	1,141	1,094	1,002	992	994	991	991	884	868	868	-2,606	993	842	841	842	841	855	877	375	1,133	-174	220	529	171	-
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	-
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	65,430	65,430	63,066	56,546	56,793	55,347	24,032	34,836	33,038	34,405	30,891	23,927	16,528	2,450	0	174	984	539	631	60	1,049	384	1,148	898	2,018	0	1,367	1,202	1,136	12,006	7,821	2,367	1,816	11,653	0	0	2,315	2,667	1,558	497	0	0	0	-
Selling General Administrative	69,165	100,146	64,592	61,686	39,730	55,949	48,262	71,136	60,062	67,803	69,556	70,503	47,843	58,604	54,172	54,529	35,181	47,278	42,832	29,153	39,495	40,403	37,199	39,008	13,406	48,109	48,924	36,109	65,195	45,881	40,140	37,970	42,593	35,677	27,100	24,969	66	15,979	15,337	11,660	11,626	10,993	1,695	484	485	481	491	1,021	3,039	337	275	409	21,556	275	375	7,929	7,846	3,625	3,538	645	673	860	1,273	1,045	1,166	1,131	-
Tax Provision	13,937	12,273	11,824	5,022	18,913	5,068	26,555	-86	9,875	237	2,427	8,752	8,403	-844	-5	-21,181	5,311	-649	3,501	854	-4,431	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	246,269	100,146	-394,730	92,032	874,310	83,423	286,774	-315,750	7,910	69,664	63,700	58,050	-593,000	47,701	187,000	204,000	192,000	184,000	169,000	48,008	46,360	47,228	43,552	45,587	101,309	153,330	116,550	114,683	30,630	118,516	121,167	121,073	104,561	99,948	83,555	75,684	22,027	18,000	19,897	16,849	15,841	15,472	3,616	2,745	1,584	2,621	2,383	4,030	4,030	2,587	2,345	2,413	7,805	9,061	3,499	9,837	4,411	2,760	3,146	1,878	33,196	6,609	1,816	2,656	9,258	-2,410	-4,737
Total Other Income Expense Net	30,065	-249,564	8,025	-6,465	22,012	331	-8,475	-10,105	21,170	14,980	10,462	7,522	9,936	6,633	6,909	9,236	15,730	4,969	1,877	12,079	3,329	3,030	1,798	1,642	-54,035	20,553	19,355	17,403	21,016	14,529	13,511	12,724	11,340	11,165	11,191	9,369	6,439	4,469	4,393	4,446	2,481	1,363	85	83	81	81	-253	17,715	17,715	1,009	1,307	-870	1,915	-237	-566	-1,161	-2,370	-1,212	-1,010	350	-681	-1,836	-1,090	-1,719	0	-4,820	-
Total Revenue	442,220	416,514	404,518	381,625	369,528	363,478	339,843	324,903	319,534	286,991	300,045	294,688	257,395	224,041	199,194	129,671	208,568	189,185	183,474	183,903	152,377	172,668	152,709	148,072	93,507	164,519	157,870	163,908	167,475	134,121	133,752	131,806	133,838	119,089	99,179	88,010	-19,386	40,618	29,093	29,988	29,158	28,073	1,705	4,519	4,010	3,999	3,977	3,964	3,964	3,517	3,474	3,521	22,768	3,700	3,590	3,959	3,819	5,014	5,074	6,142	7,022	6,618	3,791	4,834	6,216	6,124	288

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

Gross Profit (+$)
totalRevenue	1,634,116
Cost of Revenue	-0
Gross Profit	1,634,116	1,634,116

Operating Income (+$)
Gross Profit	1,634,116
Operating Expense	-921,577
Operating Income	-26,146	712,539

Operating Expense (+$)
Research Development	0
Selling General Administrative	261,324
Selling And Marketing Expenses	0
Operating Expense	921,577	261,324

Net Interest Income (+$)
Interest Income	52,354
Interest Expense	-27,692
Other Finance Cost	-64,602
Net Interest Income	-39,940

Pretax Income (+$)
Operating Income	-26,146
Net Interest Income	-39,940
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	83,053	-109,199 EBIT - interestExpense = -53,838 57,007 41,643
Interest Expense	27,692
Earnings Before Interest and Taxes (EBIT)	-26,146	110,745
Earnings Before Interest and Taxes (EBITDA)	-2,680

After tax Income (+$)
Income Before Tax	83,053
Tax Provision	-43,056
Net Income From Continuing Ops	39,997	39,997
Net Income	13,951
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	1,523,371
Total Other Income/Expenses Net	83,053	39,940

Technical Analysis of Tiptree Inc
The psychology behind the price

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

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of Tiptree Inc. The general trend of Tiptree Inc is BEARISH with 71.4% 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 Tiptree Inc's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

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

Indicator zone transitions	Bullish trend (-71.4%)		Bearish trend (71.4%)
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 Tiptree Inc.

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

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

The bullish price targets are: 16.29 < 16.55 < 17.45.

The bearish price targets are: 16.49 > 15.01 > 14.63.

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Tiptree Inc Daily Support & Resistance Chart

2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

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

Score

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

The long score for the Moving Averages is 2/14.
The longshort score for the Moving Averages is -10/(-14 +14).

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

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 Tiptree Inc. The current macd is -0.35611459.

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

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

Tiptree Inc Daily Moving Average Convergence/Divergence (MACD) Chart

2.3 Directional Movement Index (DMI)

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

Score

Let's take a look at the Directional Movement Index (DMI) of Tiptree Inc. The current adx is 15.24.

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 Tiptree Inc shares, leading to potential downward momentum in its price. -1
PLUS_ID < MINUS_DI && ADX < 25 && ADX trending down: The ADX is below 25 and indicates a weak or no trend. Also, the ADX is declining so there is no trend indication.

Tiptree Inc Daily Directional Movement Index (DMI) Chart

2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

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

Score

Let's take a look at the Parabolic SAR of Tiptree Inc. The current sar is 16.74.

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

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 Tiptree Inc. The current rsi is 46.32. The current phase is Continuation in bear market.

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

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

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

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

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

Original usage

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

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

How you can use RSI (Divergence)

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

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

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

Source: Tradingview.com

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

Use tradingview to add indicators

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

Tradingview

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

View tool on Tradingview.com

RSI divergence

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

There are four types of divergences:

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

Regular bullish divergence

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

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

Source: Tradingview.com

Regular bearish divergence

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

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

Source: Tradingview.com

Hidden bullish divergence

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

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

Source: Tradingview.com

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

Hidden bearish divergence

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

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

Source: Tradingview.com

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

Tiptree Inc Daily Relative Strength Index (RSI) Chart

3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

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

Score

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

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

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

Tiptree Inc Daily Stochastic Oscillator Chart

3.3 Commodity Channel Index (CCI)

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

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

Score

Let's take a look at the Commodity Channel Index (CCI) of Tiptree Inc. The current cci is -60.36486863.

Tiptree Inc Daily Commodity Channel Index (CCI) Chart

3.4 Chande Momentum Oscillator (CMO)

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

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

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of Tiptree Inc. The current cmo is 0.23570842.

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

CMO > 0: The CMO is above 0, the momentum of the price is positive, indicating a potential uptrend in the price. +1

Tiptree Inc Daily Chande Momentum Oscillator (CMO) Chart

3.5 Williams %R

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

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

Score

Let's take a look at the Williams %R of Tiptree Inc. The current willr is -58.83838384.

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

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

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 Tiptree Inc.

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 Tiptree Inc. The current atr is 0.45995192.

Tiptree Inc Daily Average True Range (ATR) Chart

5. Volume Indicators

5.1 On-Balance Volume (OBV)

Measures market volatility

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

Score

Let's take a look at the On-Balance Volume (OBV) of Tiptree Inc. The current obv is 2,662,316.

Tiptree Inc Daily On-Balance Volume (OBV) Chart

5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

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

Score

Let's take a look at the Money Flow Index (MFI) of Tiptree Inc. The current mfi is 40.21.

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

Tiptree Inc Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for Tiptree Inc.

6.2. Trading Signals

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

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

6.3. Candlestick Patterns

Date	Candlestick Pattern

6.4. Technical Score

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

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	46.320
Ma 20	Greater than	Ma 50	16.537
Ma 50	Greater than	Ma 100	16.835
Ma 100	Greater than	Ma 200	17.890
Open	Greater than	Close	15.540
Total			1/5 (20.0%)

Create your own Symbol Scanner

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Quick analysis of Tiptree Inc (30 sec.)

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

How much money do you get?

What is your share worth?

+ What do you gain per year?

For what price can you sell your share?

1. Valuation of Tiptree Inc (5 min.)

$16.34

$15.28

$-95.97 - $72.21

$-80.69 - $87.48

2. Growth of Tiptree Inc (5 min.)

Is Tiptree Inc growing?

How much money is Tiptree Inc making?

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

3. Financial Health of Tiptree Inc (5 min.)

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

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

Speculation

Investing

How much money are you going to get?

When do you get the money?

How sure are you?

Linear %

Fundamentals of Tiptree Inc

About Tiptree Inc

Financial Health

Valuation

1.1. Profitability of Tiptree Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

1.1.2. Return on Assets

Trends

1.1.3. Return on Equity

Trends

1.2. Operating Efficiency of Tiptree Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

1.2.2. Operating Ratio

Trends

1.3. Liquidity of Tiptree Inc.

1.3. Liquidity

1.3.1. Current Ratio

Trends

1.3.2. Quick Ratio

Trends

1.4. Solvency of Tiptree Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

1.4.2. Debt to Equity Ratio

Trends

2. Market Valuation of Tiptree Inc

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

2.2. Price To Free Cash Flow Ratio

Trends

2. Book Value per Share

2.3. Price to Book Ratio

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Tiptree Inc
Buy, Hold or Sell?