Virginia National Bankshares Corp
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Let's analyse Virginia National Bankshares Corp together

Penke I guess you are interested in Virginia National Bankshares Corp. 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 Virginia National Bankshares Corp. 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 Virginia National Bankshares Corp (30 sec.)

What can you expect buying and holding a share of Virginia National Bankshares Corp? (30 sec.)

How much money do you get?

$1.31

When do you have the money?

1 year

How often do you get paid?

100.0%

What is your share worth?

Current worth

$28.37

Expected worth in 1 year

$31.87

How sure are you?

85.0%

+ What do you gain per year?

Total Gains per Share

$4.82

Return On Investment

19.7%

For what price can you sell your share?

Current Price per Share

$24.40

Expected price per share

$0 - $27.19

How sure are you?

50%

1. Valuation of Virginia National Bankshares Corp (5 min.)

Live pricePrice per Share (EOD)

$24.40

Book Value per Share

$28.37

Intrinsic Value Per Share

$17.27 - $32.20

Total Value Per Share

$45.64 - $60.56

My calculation of the intrinsic value of Virginia National Bankshares Corp 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: ($0.47) 3Y: ($0.72) TTM: ($0.59)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($0.01) 3Y: ($0.01) TTM: ($-0.11)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$1.87	$2.95	$1.97 - $3.07
2	$3.71	$5.97	$2.06 - $3.24
3	$5.52	$9.07	$2.15 - $3.41
4	$7.31	$12.23	$2.24 - $3.58
5	$9.06	$15.45	$2.33 - $3.75
6	$10.78	$18.71	$2.42 - $3.92
7	$12.46	$22.03	$2.51 - $4.10
8	$14.10	$25.38	$2.60 - $4.27
9	$15.71	$28.77	$2.69 - $4.44
10	$17.27	$32.20	$2.78 - $4.61

2. Growth of Virginia National Bankshares Corp (5 min.)

Is Virginia National Bankshares Corp growing?

	Current year	Previous year	Grow	Grow %
How rich?	$153m	$134.9m	$8.2m	5.8%

How much money is Virginia National Bankshares Corp making?

	Current year	Previous year	Grow	Grow %
Making money	$4.8m	$5.8m	-$1m	-21.7%
Net Profit Margin	30.2%	1,655.7%	-	-

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

Quarterly Yearly

3. Financial Health of Virginia National Bankshares Corp (5 min.)

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

Industry Rankings (Banks - Regional)

What can you expect buying and holding a share of Virginia National Bankshares Corp? (5 min.)

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

What can you expect buying and holding a share of Virginia National Bankshares Corp?

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

Speculation

The Price per Share of Virginia National Bankshares Corp is $24.40. 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 Virginia National Bankshares Corp.
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 Virginia National Bankshares Corp, 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 $28.37. Based on the TTM, the Book Value Change Per Share is $0.88 per quarter. Based on the YOY, the Book Value Change Per Share is $-1.33 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 $0.33 per quarter.

Based on historical numbers we can estimate the returns while holding a share of Virginia National Bankshares Corp.

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	0.59	2.4%	0.85	3.5%	1.09	4.5%	0.62	2.5%	0.43	1.8%
Usd Book Value Change Per Share	3.21	13.2%	0.88	3.6%	-1.33	-5.4%	0.76	3.1%	0.44	1.8%
Usd Dividend Per Share	0.33	1.3%	0.33	1.3%	0.30	1.2%	0.24	1.0%	0.15	0.6%
Usd Total Gains Per Share	3.54	14.5%	1.20	4.9%	-1.03	-4.2%	1.00	4.1%	0.59	2.4%
Usd Price Per Share	34.38	-	33.21	-	33.77	-	33.12	-	29.73	-
Price to Earnings Ratio	14.64	-	10.27	-	7.83	-	33.83	-	33.69	-
Price-to-Total Gains Ratio	9.71	-	15.96	-	-8.48	-	33.71	-	119.17	-
Price to Book Ratio	1.21	-	1.25	-	1.35	-	1.69	-	1.97	-
Price-to-Total Gains Ratio	9.71	-	15.96	-	-8.48	-	33.71	-	119.17	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	24.4
Number of shares	40

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.33	0.24
Usd Book Value Change Per Share	0.88	0.76
Usd Total Gains Per Share	1.20	1.00
Gains per Quarter (40 shares)	48.19	40.15
Gains per Year (40 shares)	192.75	160.60

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	53	140	183	39	121	151
2	105	280	376	78	243	312
3	158	421	569	117	364	473
4	210	561	762	156	486	634
5	263	701	955	196	607	795
6	315	841	1148	235	729	956
7	368	981	1341	274	850	1117
8	420	1122	1534	313	972	1278
9	473	1262	1727	352	1093	1439
10	525	1402	1920	391	1215	1600

How sure are you?

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

Linear %

	Trailing 12 Months				3Y				5 Year				10 Year				ALLTIME
				%				%				%				%				%
Earnings Per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	20.0	0.0	0.0	100.0%	40.0	0.0	0.0	100.0%	75.0	0.0	0.0	100.0%
Book Value Change Per Share	3.0	1.0	0.0	75.0%	7.0	5.0	0.0	58.3%	15.0	5.0	0.0	75.0%	32.0	8.0	0.0	80.0%	63.0	12.0	0.0	84.0%
Dividend per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	20.0	0.0	0.0	100.0%	40.0	0.0	0.0	100.0%	43.0	0.0	32.0	57.3%
Total Gains per Share	3.0	1.0	0.0	75.0%	7.0	5.0	0.0	58.3%	15.0	5.0	0.0	75.0%	34.0	6.0	0.0	85.0%	65.0	10.0	0.0	86.7%

Fundamentals of Virginia National Bankshares Corp

About Virginia National Bankshares Corp

https://www.vnb.com
Banks - Regional
0
404 People Place, Charlottesville, VA, United States, 22911
Google Maps Bing Maps

Virginia National Bankshares Corporation operates as the holding company for Virginia National Bank that provides a range of commercial and retail banking services. The company operates through four segments: Bank, Sturman Wealth Advisors, VNB Trust and Estate Services, and Masonry Capital. It provides checking accounts, demand deposits, NOW accounts, money market deposit accounts, time deposits, certificates of deposit, individual retirement accounts, and other depository services. The company also offers commercial and industrial loans, real estate construction and land loans, commercial real estate loans, and 1-4 family residential mortgages, as well as consumer loans comprising student loans, revolving credit, and other fixed payment loans. In addition, it provides automated teller machines, internet banking, treasury, and cash management services; merchant and debit card services; and wealth and investment advisory, brokerage, insurance, consulting, and related services. Further, the company offers investment management, corporate trustee, trust and estate administration, IRA administration, house investment management, and custody services. It serves individuals, businesses, and charitable organizations in the Charlottesville/Albemarle County, Fauquier County, Manassas, Prince William County, Richmond, and Winchester market areas in Virginia. Virginia National Bankshares Corporation was founded in 1998 and is headquartered in Charlottesville, Virginia.

Fundamental data was last updated by Penke on 2024-04-12 21:15:04.

Financial Health

Profitability Details

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

Operating Efficiency Details

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

Liquidity Details

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

Solvency Details

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

1.1. Profitability of Virginia National Bankshares Corp.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit Virginia National Bankshares Corp earns for each $1 of revenue.

Above 10% is considered healthy but always compare Virginia National Bankshares Corp to the Banks - Regional industry mean.
A Net Profit Margin of 15.7% means that $0.16 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Virginia National Bankshares Corp:

The MRQ is 15.7%. The company is making a huge profit. +2
The TTM is 30.2%. The company is making a huge profit. +2

Trends

Current period		Compared to		+/-
MRQ	15.7%	TTM	30.2%	-14.5%
TTM	30.2%	YOY	1,655.7%	-1,625.5%
TTM	30.2%	5Y	351.0%	-320.8%
5Y	351.0%	10Y	185.7%	+165.2%

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	15.7%	18.4%	-2.7%
TTM	30.2%	28.0%	+2.2%
YOY	1,655.7%	25.2%	+1,630.5%
5Y	351.0%	22.8%	+328.2%
10Y	185.7%	19.8%	+165.9%

Measures how much net profit Virginia National Bankshares Corp earns for each $1 of revenue.

Revenue is the amount of profit Virginia National Bankshares Corp 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 Virginia National Bankshares Corp 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 Virginia National Bankshares Corp to the Banks - Regional industry mean.
Can be used to compare companies within the Banks - Regional industry.

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

Why do investors use net profit margin in their analysis

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

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Net Profit Margin of Virginia National Bankshares Corp is 0.16. This means that Virginia National Bankshares Corp earned $0.16 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Net Profit Margin of the Banks - Regional industry is 18.4%.
What is the trend?
The trend is important because it shows you how Virginia National Bankshares Corp is performing over time. The most recent quarter might be important if Virginia National Bankshares Corp 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 Virginia National Bankshares Corp 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 Virginia National Bankshares Corp with other companies in the same industry (Banks - Regional).
Net profit margin should rise over the years.
Can be influenced when Virginia National Bankshares Corp sells assets (profit will increase while costs remain the same).
It won’t show what part of Virginia National Bankshares Corp 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 Virginia National Bankshares Corp

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 Virginia National Bankshares Corp = 3,168
Total revenue MRQ Virginia National Bankshares Corp = 20,210
$3,168 / $20,210 = 0.16 or 15.7%

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 Virginia National Bankshares Corp is using its assets to generate profit.

Above 5% is considered healthy but always compare Virginia National Bankshares Corp to the Banks - Regional industry mean.
0.2% Return on Assets means that Virginia National Bankshares Corp generated $0.00 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Virginia National Bankshares Corp:

The MRQ is 0.2%. Using its assets, the company is inefficient in making profit. -1
The TTM is 0.3%. Using its assets, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	0.2%	TTM	0.3%	-0.1%
TTM	0.3%	YOY	0.3%	0.0%
TTM	0.3%	5Y	0.3%	+0.0%
5Y	0.3%	10Y	0.2%	+0.0%

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	0.2%	0.1%	+0.1%
TTM	0.3%	0.2%	+0.1%
YOY	0.3%	0.2%	+0.1%
5Y	0.3%	0.2%	+0.1%
10Y	0.2%	0.2%	+0.0%

Shows how efficient Virginia National Bankshares Corp 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 Virginia National Bankshares Corp to the Banks - Regional industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on assets in their analysis

Shows the investor how effectively Virginia National Bankshares Corp is using its resources to generate profit. If the return on assets (0.2%) from Virginia National Bankshares Corp are higher than the Banks - Regional mean (0.1%) that means Virginia National Bankshares Corp 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 Virginia National Bankshares Corp 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 Banks - Regional industry is 0.1%.
What is the trend?
The trend is important because it shows you how Virginia National Bankshares Corp is performing over time. The most recent quarter might be important if Virginia National Bankshares Corp 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 Virginia National Bankshares Corp 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 Virginia National Bankshares Corp

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

Income statement
Balance sheet

Net income MRQ (income statement) from Virginia National Bankshares Corp = 3,168
Total assets MRQ (balance sheet) from Virginia National Bankshares Corp = 1,646,017
3,168 / 1,646,017 = 0.00 or 0.2%

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

Above 15%-20% is considered healthy but always compare Virginia National Bankshares Corp to the Banks - Regional industry mean.
2.1% Return on Equity means Virginia National Bankshares Corp generated $0.02 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Virginia National Bankshares Corp:

The MRQ is 2.1%. Using its investors money, the company is inefficient in making profit. -1
The TTM is 3.4%. Using its investors money, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	2.1%	TTM	3.4%	-1.3%
TTM	3.4%	YOY	4.4%	-1.0%
TTM	3.4%	5Y	2.9%	+0.5%
5Y	2.9%	10Y	2.5%	+0.4%

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	2.1%	1.4%	+0.7%
TTM	3.4%	2.5%	+0.9%
YOY	4.4%	2.7%	+1.7%
5Y	2.9%	2.5%	+0.4%
10Y	2.5%	2.8%	-0.3%

Shows how efficient Virginia National Bankshares Corp 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 Virginia National Bankshares Corp to the Banks - Regional industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on equity in their analysis

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

The three steps every investor should look at:

What is the current return on equity?
The current most recent quarter (MRQ) Return on Equity of Virginia National Bankshares Corp is 2.1%. This means Virginia National Bankshares Corp 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 Banks - Regional industry is 1.4%.
What is the trend?
The trend is important because it shows you how Virginia National Bankshares Corp is performing over time. The most recent quarter might be important if Virginia National Bankshares Corp 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 Virginia National Bankshares Corp up to 10 years back (depending if Virginia National Bankshares Corp 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 Virginia National Bankshares Corp

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Virginia National Bankshares Corp = 3,168
Shareholders equity (balance sheet) MRQ Virginia National Bankshares Corp = 153,040
3,168 / 153,040 = 0.02 or 2.1%

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 Virginia National Bankshares Corp.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Virginia National Bankshares Corp is operating .

Measures how much profit Virginia National Bankshares Corp 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 Virginia National Bankshares Corp to the Banks - Regional industry mean.
An Operating Margin of 0.0% means the company generated $0.00 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Virginia National Bankshares Corp:

The MRQ is 0.0%. The data is not here.

Trends

Current period		Compared to		+/-
MRQ	-	TTM	43.0%	-43.0%
TTM	43.0%	YOY	2,491.9%	-2,448.8%
TTM	43.0%	5Y	530.1%	-487.1%
5Y	530.1%	10Y	282.2%	+247.9%

Measures how efficient Virginia National Bankshares Corp 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 Virginia National Bankshares Corp to the Banks - Regional industry mean.
Can be very different between industries
Can be used to compare companies

Why do investors use operating margin in their analysis

To determine how much profit Virginia National Bankshares Corp 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 Virginia National Bankshares Corp is 0.0%. This means that Virginia National Bankshares Corp earned $0.00 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Banks - Regional industry is .
What is the trend?
The trend is important because it shows you how Virginia National Bankshares Corp is performing over time. The most recent quarter might be important if Virginia National Bankshares Corp 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 Virginia National Bankshares Corp 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 Virginia National Bankshares Corp

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Virginia National Bankshares Corp = 0
Total revenue MRQ Virginia National Bankshares Corp = 20,210
$0 / $20,210 = 0.00 or 0.0%

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 Virginia National Bankshares Corp is keeping operating costs low.

Below 1 is considered healthy (always compare to Banks - Regional industry mean).
An Operation Ratio of 0.15 means that the operating costs are $0.15 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Virginia National Bankshares Corp:

The MRQ is 0.152. The company is very efficient in keeping operating costs low. +2
The TTM is -0.170.

Trends

Current period		Compared to		+/-
MRQ	0.152	TTM	-0.170	+0.322
TTM	-0.170	YOY	1.905	-2.075
TTM	-0.170	5Y	0.272	-0.442
5Y	0.272	10Y	0.033	+0.239

Measures how efficient Virginia National Bankshares Corp 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 Virginia National Bankshares Corp to the Banks - Regional industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use operating ratio in their analysis

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

The three steps every investor should look at:

What is the current Operatin ratio?
The current most recent quarter (MRQ) Operating Ratio of Virginia National Bankshares Corp is 15.2%. This means that Virginia National Bankshares Corp earned $0.15 for each $1 in net sales in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Ratio of the Banks - Regional industry is .
What is the trend?
The trend is important because it shows you how Virginia National Bankshares Corp is performing over time. The most recent quarter might be important if Virginia National Bankshares Corp 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 Virginia National Bankshares Corp 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 Virginia National Bankshares Corp

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 +3,065) \ 20,210 = 0.15

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 Virginia National Bankshares Corp.

1.3. Liquidity

1.3.1. Current Ratio

Measures if Virginia National Bankshares Corp is able to pay off Short-term Debt.

Above 1.5 is considered healthy (always compare to Banks - Regional industry mean).
A Current Ratio of 0.04 means the company has $0.04 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Virginia National Bankshares Corp:

The MRQ is 0.044. The company is unable to pay all its short-term debts. -2
The TTM is 71.325. The company is very able to pay all its short-term debts. +2

Trends

Current period		Compared to		+/-
MRQ	0.044	TTM	71.325	-71.281
TTM	71.325	YOY	189.763	-118.438
TTM	71.325	5Y	140.470	-69.145
5Y	140.470	10Y	172.151	-31.681

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
TTM	71.325	0.124	+71.201
YOY	189.763	0.225	+189.538
5Y	140.470	0.219	+140.251
10Y	172.151	0.131	+172.020

Measures if Virginia National Bankshares Corp is able to pay off Short-term Debt.

How to use current ratio

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

Why do investors use current ratio in their analysis

Shows if the company can pay of short term debts if needed. A company that can't pay off it's short term debts might get in trouble if they have to pay off their short term debts for whatever reason. For example, markets can change due to global events like covid-19 or the war in Ukraine versus Russia. Because debts are always taken based on future income, it might become troublesome for Virginia National Bankshares Corp 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 Virginia National Bankshares Corp is 0.04. This means Virginia National Bankshares Corp has $0.04 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Banks - Regional industry is .
What is the trend?
The trend is important because it shows you how Virginia National Bankshares Corp is performing over time. The most recent quarter might be important if Virginia National Bankshares Corp 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 Virginia National Bankshares Corp 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 Virginia National Bankshares Corp

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
34,569 \ 791,459) = 0.04

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

Above 1 is considered healthy but always compare Virginia National Bankshares Corp to the Banks - Regional industry mean.
A Quick Ratio of 0.53 means the company can pay off $0.53 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Virginia National Bankshares Corp:

The MRQ is 0.527. The company is just not able to pay all its short-term debts with the most liquid assets. -1
The TTM is 154.163. The company is very able to pay all its short-term debts with the most liquid assets. +2

Trends

Current period		Compared to		+/-
MRQ	0.527	TTM	154.163	-153.637
TTM	154.163	YOY	400.962	-246.798
TTM	154.163	5Y	152.274	+1.889
5Y	152.274	10Y	145.590	+6.685

Measures if Virginia National Bankshares Corp 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 Virginia National Bankshares Corp to the Banks - Regional industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use quick ratio in their analysis

Shows how fast Virginia National Bankshares Corp can pay off its short term debts. This shows if Virginia National Bankshares Corp 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 Virginia National Bankshares Corp is 0.53. This means that Virginia National Bankshares Corp can pay off $0.53 for each $1 in debt (using most liquid assets).
How does it compare to the industry?
The mean MRQ Quick Ratio of the Banks - Regional industry is .
What is the trend?
The trend is important because it shows you how Virginia National Bankshares Corp is performing over time. The most recent quarter might be important if Virginia National Bankshares Corp 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 Virginia National Bankshares Corp 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 Virginia National Bankshares Corp

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 Virginia National Bankshares Corp: (-18,074 + 420,595 +14,287) / 791,459 = 0.53

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 Virginia National Bankshares Corp.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of Virginia National Bankshares Corp assets are financed with debt.

Below 1 (100%) is considered healthy but always compare Virginia National Bankshares Corp to Banks - Regional industry mean.
A Debt to Asset Ratio of 0.91 means that Virginia National Bankshares Corp assets are financed with 90.7% credit (debt) and the remaining percentage (100% - 90.7%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of Virginia National Bankshares Corp:

The MRQ is 0.907. The company is just able to pay all its debts by selling its assets.
The TTM is 0.910. The company is just able to pay all its debts by selling its assets.

Trends

Current period		Compared to		+/-
MRQ	0.907	TTM	0.910	-0.003
TTM	0.910	YOY	0.923	-0.013
TTM	0.910	5Y	0.907	+0.003
5Y	0.907	10Y	0.900	+0.007

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	0.907	0.915	-0.008
TTM	0.910	0.917	-0.007
YOY	0.923	0.919	+0.004
5Y	0.907	0.919	-0.012
10Y	0.900	0.927	-0.027

Measures how much % of Virginia National Bankshares Corp assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake Virginia National Bankshares Corp than its shareholders.

How to use debt to asset ratio

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

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

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

The three steps every investor should look at:

What is the current debt to asset ratio?
The current most recent quarter (MRQ) Debt to Asset Ratio of Virginia National Bankshares Corp is 0.91. This means means that Virginia National Bankshares Corp is financed with 90.7% credit and the remaining percentage is financed by it's owners (shareholders).
How does it compare to the industry?
The mean MRQ Current Ratio of the Banks - Regional industry is .
What is the trend?
The trend is important because it shows you how Virginia National Bankshares Corp is performing over time. The most recent quarter might be important if Virginia National Bankshares Corp 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 Virginia National Bankshares Corp 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 Virginia National Bankshares Corp has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Virginia National Bankshares Corp

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

Balance sheet
Debt to asset ratio = total debt \ total assets
1,492,977 \ 1,646,017 = 90.7% or 0.91.

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

1.4.2. Debt to Equity Ratio

Measures if Virginia National Bankshares Corp is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare Virginia National Bankshares Corp to the Banks - Regional industry mean.
A Debt to Equity ratio of 975.5% means that company has $9.76 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Virginia National Bankshares Corp:

The MRQ is 9.755. The company is unable to pay all its debts with equity. -1
The TTM is 10.124. The company is unable to pay all its debts with equity. -1

Trends

Current period		Compared to		+/-
MRQ	9.755	TTM	10.124	-0.368
TTM	10.124	YOY	12.045	-1.921
TTM	10.124	5Y	9.960	+0.164
5Y	9.960	10Y	9.201	+0.759

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
MRQ	9.755	10.829	-1.074
TTM	10.124	11.013	-0.889
YOY	12.045	11.363	+0.682
5Y	9.960	11.437	-1.477
10Y	9.201	13.038	-3.837

Measures if Virginia National Bankshares Corp 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 Virginia National Bankshares Corp 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 Virginia National Bankshares Corp is 9.76. This means that Virginia National Bankshares Corp can pay off $9.76 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Banks - Regional industry is 10.83.
What is the trend?
The trend is important because it shows you how Virginia National Bankshares Corp is performing over time. The most recent quarter might be important if Virginia National Bankshares Corp 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 Virginia National Bankshares Corp 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 Virginia National Bankshares Corp

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
1,492,977 \ 153,040 = 9.76 or 975.5%

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 Virginia National Bankshares Corp

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 Virginia National Bankshares Corp generates.

Above 15 is considered overpriced but always compare Virginia National Bankshares Corp to the Banks - Regional industry mean.
A PE ratio of 14.64 means the investor is paying $14.64 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Virginia National Bankshares Corp:

The EOD is 10.388. Based on the earnings, the company is underpriced. +1
The MRQ is 14.636. Based on the earnings, the company is underpriced. +1
The TTM is 10.266. Based on the earnings, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	10.388	MRQ	14.636	-4.249
MRQ	14.636	TTM	10.266	+4.370
TTM	10.266	YOY	7.835	+2.432
TTM	10.266	5Y	33.828	-23.562
5Y	33.828	10Y	33.695	+0.133

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
EOD	10.388	7.498	+2.890
MRQ	14.636	6.680	+7.956
TTM	10.266	5.295	+4.971
YOY	7.835	6.943	+0.892
5Y	33.828	9.770	+24.058
10Y	33.695	9.943	+23.752

Measures how much money you pay for each share for every $1 in earnings Virginia National Bankshares Corp 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 Virginia National Bankshares Corp to the Banks - Regional industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use PE ratio in their analysis

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

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

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

The three steps every investor should look at:

What is the current PE Ratio?
The current most recent quarter (MRQ) PE Ratio of Virginia National Bankshares Corp is 14.64. This means the investor is paying $14.64 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Banks - Regional industry is 6.68.
What is the trend?
The trend is important because it shows you how Virginia National Bankshares Corp is performing over time. The most recent quarter might be important if Virginia National Bankshares Corp 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 Virginia National Bankshares Corp 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 Virginia National Bankshares Corp

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 \ 5,395 = EPS
PE ratio MRQ = 14.64

* 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 Virginia National Bankshares Corp:

The EOD is 11.324. Based on how much money comes from the company's main activities, the company is cheap. +2
The MRQ is 15.956. Based on how much money comes from the company's main activities, the company is underpriced. +1
The TTM is 57.712. Based on how much money comes from the company's main activities, the company is overpriced. -1

Trends

Current period		Compared to		+/-
EOD	11.324	MRQ	15.956	-4.632
MRQ	15.956	TTM	57.712	-41.756
TTM	57.712	YOY	110.658	-52.945
TTM	57.712	5Y	223.653	-165.941
5Y	223.653	10Y	118.173	+105.480

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
EOD	11.324	-2.096	+13.420
MRQ	15.956	-1.868	+17.824
TTM	57.712	-0.342	+58.054
YOY	110.658	6.448	+104.210
5Y	223.653	0.429	+223.224
10Y	118.173	0.091	+118.082

2. Book Value per Share

2.3. Price to Book Ratio

Measures if the stock price of Virginia National Bankshares Corp is to cheap or to expensive compared to its book value.

At or below 1 is considered healthy (always compare to Banks - Regional industry mean).
A PB ratio of 1.21 means the investor is paying $1.21 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Virginia National Bankshares Corp:

The EOD is 0.860. Based on the equity, the company is cheap. +2
The MRQ is 1.212. Based on the equity, the company is underpriced. +1
The TTM is 1.249. Based on the equity, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	0.860	MRQ	1.212	-0.352
MRQ	1.212	TTM	1.249	-0.037
TTM	1.249	YOY	1.346	-0.096
TTM	1.249	5Y	1.690	-0.441
5Y	1.690	10Y	1.970	-0.280

Compared to industry (Banks - Regional)

Period	Company	Industry (mean)	+/-
EOD	0.860	0.433	+0.427
MRQ	1.212	0.386	+0.826
TTM	1.249	0.470	+0.779
YOY	1.346	0.642	+0.704
5Y	1.690	0.795	+0.895
10Y	1.970	1.025	+0.945

2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of Virginia National Bankshares Corp.

3.1. Institutions holding Virginia National Bankshares Corp

Institutions are holding 38.733% of the shares of Virginia National Bankshares Corp.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	Vanguard Group Inc	5.441	0.0002	291965	1562	0.5379
2023-12-31	BlackRock Inc	5.3999	0.0003	289756	34078	13.3285
2023-12-31	Manufacturers Life Insurance Co	4.1168	0.0045	220909	-5807	-2.5614
2023-12-31	Endeavour Capital Advisors Inc	3.624	2.2412	194465	-9922	-4.8545
2023-12-31	STRATEGIC VALUE BANK PARTNERS LLC	2.4032	2.1656	128953	0	0
2023-12-31	Geode Capital Management, LLC	1.8684	0.0004	100257	7443	8.0193
2023-12-31	Goldman Sachs Group Inc	1.8551	0.0003	99546	99546	0
2023-12-31	Elizabeth Park Capital Advisors, Ltd	1.8277	2.3378	98076	0	0
2023-12-31	Royce & Associates, LP	1.6756	0.0286	89910	-96671	-51.8118
2023-12-31	AllianceBernstein L.P.	1.0626	0.0008	57018	-7117	-11.0969
2023-12-31	State Street Corporation	0.9923	0.0001	53249	-74	-0.1388
2023-12-31	HPM Partners LLC	0.8978	0.0054	48177	0	0
2023-12-31	SALZHAUER MICHAEL	0.7671	1.2025	41165	-3758	-8.3654
2023-12-31	Northern Trust Corp	0.7408	0.0003	39751	2172	5.7798
2023-12-31	Grace & White Inc	0.6388	0.2068	34279	0	0
2023-12-31	Dimensional Fund Advisors, Inc.	0.5702	0.0003	30595	0	0
2023-09-30	Raffles Associates LP	0.4816	1.0392	25844	0	0
2023-12-31	U.S. Bancorp	0.3471	0.001	18628	0	0
2023-12-31	Atlantic Union Bankshares Corp	0.2622	0.0448	14069	0	0
2023-12-31	Bank of New York Mellon Corp	0.2572	0.0001	13802	-1	-0.0072
Total		35.2294	9.2802	1890414	+21451	+1.1%

3.2. Funds holding Virginia National Bankshares Corp

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2024-02-29	Vanguard Total Stock Mkt Idx Inv	3.632	0.0004	195778	0	0
2024-03-28	iShares Russell 2000 ETF	2.1775	0.0054	117378	57	0.0486
2024-01-31	JHancock Regional Bank A	2.0707	0.4633	111621	0	0
2023-12-31	Royce Micro Cap Trust	1.668	0.5939	89910	0	0
2024-01-31	JH Financial Opportunities	1.534	0.3932	82690	0	0
2024-02-29	Vanguard Institutional Extnd Mkt Idx Tr	1.2291	0.002	66254	0	0
2024-01-31	Fidelity Small Cap Index	0.9151	0.0066	49326	1284	2.6727
2024-03-28	iShares Russell 2000 Value ETF	0.8238	0.0107	44407	-28	-0.063
2024-02-29	Fidelity Extended Market Index	0.4927	0.0021	26557	-129	-0.4834
2023-07-20	Manulife US Bank Equity Mother Fund	0.4898	0.3885	26400	26200	13100
2024-03-31	VT De Lisle America B USD	0.4666	0.1668	25150	0	0
2024-02-29	Vanguard Russell 2000 ETF	0.3192	0.0055	17208	1424	9.0218
2024-03-31	State St Russell Sm Cap® Indx SL Cl I	0.2727	0.0045	14700	0	0
2023-12-31	NT R2000 Value Index Fund - NL	0.2538	0.0124	13680	0	0
2023-12-31	NT R2000 Index Fund - NL	0.252	0.0064	13583	18	0.1327
2023-09-30	BlackRock Extended Mkt Composite	0.2406	0.0028	12970	83	0.6441
2024-03-28	iShares Core S&P Total US Stock Mkt ETF	0.2334	0.0007	12579	-7	-0.0556
2024-03-31	BlackRock Extended Equity Market K	0.2077	0.0023	11197	4	0.0357
2024-02-29	Schwab Small Cap Index	0.2005	0.0056	10808	0	0
2023-12-31	NT R2000 Index Fund - DC - NL - 2	0.1984	0.0065	10697	-27	-0.2518
Total		17.6776	2.0796	952893	+28879	+3.0%

3.3. Insider Transactions

Insiders are holding 15.376% of the shares of Virginia National Bankshares Corp.

Date	Owner	Type	Amount	Price
2024-02-07	Gregory L Wells	BUY	910	29.66
2023-05-11	John Buchanan Adams Jr	BUY	170	29.71
2023-05-09	Glenn W Rust	BUY	170	29.15
2023-05-09	Jay B Keyser	BUY	500	29.47
2023-05-05	Randolph D Frostick	BUY	140	30.5
2023-05-03	Glenn W Rust	BUY	229	30.9
2023-05-03	Virginia R Bayes	BUY	2000	30.7
2023-05-02	William D Jr. Dittmar	BUY	1772	30.91

4. Summary

4.1. Key Performance Indicators

The key performance indicators of Virginia National Bankshares Corp 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	-	-	3.213	0.876	+267%	-1.328	+141%	0.759	+323%	0.439	+632%
Book Value Per Share	-	-	28.369	26.588	+7%	25.141	+13%	21.317	+33%	16.392	+73%
Current Ratio	-	-	0.044	71.325	-100%	189.763	-100%	140.470	-100%	172.151	-100%
Debt To Asset Ratio	-	-	0.907	0.910	0%	0.923	-2%	0.907	+0%	0.900	+1%
Debt To Equity Ratio	-	-	9.755	10.124	-4%	12.045	-19%	9.960	-2%	9.201	+6%
Dividend Per Share	-	-	0.328	0.328	0%	0.298	+10%	0.245	+34%	0.153	+115%
Eps	-	-	0.587	0.848	-31%	1.092	-46%	0.618	-5%	0.429	+37%
Free Cash Flow Per Share	-	-	0.539	0.592	-9%	1.031	-48%	0.604	-11%	0.470	+15%
Free Cash Flow To Equity Per Share	-	-	12.400	0.310	+3894%	-14.073	+213%	1.075	+1053%	1.232	+907%
Gross Profit Margin	-	-	0.941	0.943	0%	0.948	-1%	0.878	+7%	0.939	+0%
Intrinsic Value_10Y_max	-	-	32.195	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	17.270	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	2.947	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	1.866	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	9.068	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	5.523	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	15.445	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	9.059	-	-	-	-	-	-	-	-
Market Cap	130929912.000	-42%	185470232.940	178834749.545	+4%	181222559.550	+2%	177832558.244	+4%	159590984.614	+16%
Net Profit Margin	-	-	0.157	0.302	-48%	16.557	-99%	3.510	-96%	1.857	-92%
Operating Margin	-	-	-	0.430	-100%	24.919	-100%	5.301	-100%	2.822	-100%
Operating Ratio	-	-	0.152	-0.170	+212%	1.905	-92%	0.272	-44%	0.033	+356%
Pb Ratio	0.860	-41%	1.212	1.249	-3%	1.346	-10%	1.690	-28%	1.970	-38%
Pe Ratio	10.388	-41%	14.636	10.266	+43%	7.835	+87%	33.828	-57%	33.695	-57%
Price Per Share	24.400	-41%	34.380	33.210	+4%	33.773	+2%	33.117	+4%	29.730	+16%
Price To Free Cash Flow Ratio	11.324	-41%	15.956	57.712	-72%	110.658	-86%	223.653	-93%	118.173	-86%
Price To Total Gains Ratio	6.891	-41%	9.709	15.959	-39%	-8.485	+187%	33.714	-71%	119.168	-92%
Quick Ratio	-	-	0.527	154.163	-100%	400.962	-100%	152.274	-100%	145.590	-100%
Return On Assets	-	-	0.002	0.003	-37%	0.003	-43%	0.003	-26%	0.002	-19%
Return On Equity	-	-	0.021	0.034	-39%	0.044	-53%	0.029	-28%	0.025	-16%
Total Gains Per Share	-	-	3.541	1.205	+194%	-1.030	+129%	1.004	+253%	0.592	+498%
Usd Book Value	-	-	153040000.000	143181500.000	+7%	134906250.000	+13%	114488350.000	+34%	88012650.000	+74%
Usd Book Value Change Per Share	-	-	3.213	0.876	+267%	-1.328	+141%	0.759	+323%	0.439	+632%
Usd Book Value Per Share	-	-	28.369	26.588	+7%	25.141	+13%	21.317	+33%	16.392	+73%
Usd Dividend Per Share	-	-	0.328	0.328	0%	0.298	+10%	0.245	+34%	0.153	+115%
Usd Eps	-	-	0.587	0.848	-31%	1.092	-46%	0.618	-5%	0.429	+37%
Usd Free Cash Flow	-	-	2906000.000	3183250.000	-9%	5534750.000	-47%	3242750.000	-10%	2522200.000	+15%
Usd Free Cash Flow Per Share	-	-	0.539	0.592	-9%	1.031	-48%	0.604	-11%	0.470	+15%
Usd Free Cash Flow To Equity Per Share	-	-	12.400	0.310	+3894%	-14.073	+213%	1.075	+1053%	1.232	+907%
Usd Market Cap	130929912.000	-42%	185470232.940	178834749.545	+4%	181222559.550	+2%	177832558.244	+4%	159590984.614	+16%
Usd Price Per Share	24.400	-41%	34.380	33.210	+4%	33.773	+2%	33.117	+4%	29.730	+16%
Usd Profit	-	-	3168000.000	4815750.000	-34%	5859500.000	-46%	3368850.000	-6%	2331400.000	+36%
Usd Revenue	-	-	20210000.000	16518000.000	+22%	9126500.000	+121%	10797500.000	+87%	8418825.000	+140%
Usd Total Gains Per Share	-	-	3.541	1.205	+194%	-1.030	+129%	1.004	+253%	0.592	+498%
	EOD	+4 -4	MRQ	TTM	+17 -19	YOY	+21 -15	5Y	+21 -15	10Y	+25 -11

4.2. Fundamental Score

Let's check the fundamental score of Virginia National Bankshares Corp based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	10.388
Price to Book Ratio (EOD)	Between	0-1	0.860
Net Profit Margin (MRQ)	Greater than	0	0.157
Operating Margin (MRQ)	Greater than	0	0.000
Quick Ratio (MRQ)	Greater than	1	0.527
Current Ratio (MRQ)	Greater than	1	0.044
Debt to Asset Ratio (MRQ)	Less than	1	0.907
Debt to Equity Ratio (MRQ)	Less than	1	9.755
Return on Equity (MRQ)	Greater than	0.15	0.021
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 Virginia National Bankshares Corp based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	22.222
Ma 20	Greater than	Ma 50	27.494
Ma 50	Greater than	Ma 100	28.907
Ma 100	Greater than	Ma 200	32.038
Open	Greater than	Close	24.260
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	-1,513	-2,719	-4,232	565	-3,667	385	-3,282	790,401	787,119
Long-term Assets Other	-538,186	45,426	-492,760	475,799	-16,961	-2,606	-19,567	1,558,728	1,539,161
Cash and Short Term Investments	578,277	-543,008	35,269	468,538	503,807	-95,616	408,191	-426,265	-18,074
Net Working Capital	47,425	-5,354	42,071	471,620	513,691	-70,223	443,468	-1,200,358	-756,890

Latest Balance Sheet

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

Summary

Total Assets	1,646,017
Total Liabilities	1,492,977
Total Stockholder Equity	153,040

	As reported
Total Liabilities	1,492,977
Total Stockholder Equity	+ 153,040
Total Assets	= 1,646,017

Assets

Total Assets	1,646,017
Total Current Assets	34,569
Long-term Assets	1,611,448

Total Current Assets

Total Current Assets (as reported)	34,569
Cash And Cash Equivalents	28,390
Short-term Investments	420,595
Net Receivables	14,287
Inventory	3,787
Total Current Assets (calculated)	467,059
+/-	432,490

Long-term Assets

Long-term Assets (as reported)	1,611,448
Property Plant Equipment	22,943
Goodwill	7,768
Long Term Investments	420,595
Intangible Assets	5,093
Long-term Assets Other	1,539,161
Long-term Assets (calculated)	1,995,560
+/-	384,112

Liabilities & Shareholders' Equity

Total Current Liabilities	791,459
Long-term Liabilities	701,518
Total Stockholder Equity	153,040

Total Current Liabilities

Total Current Liabilities (as reported)	791,459
Short-term Debt	4,340
Accounts payable	3,954
Other Current Liabilities	787,119
Total Current Liabilities (calculated)	795,413
+/-	3,954

Long-term Liabilities

Long-term Liabilities (as reported)	701,518
Long term Debt	69,959
Capital Lease Obligations	6,504
Long-term Liabilities (calculated)	76,463
+/-	625,055

Total Stockholder Equity

Total Stockholder Equity (as reported)	153,040
Common Stock	13,258
Retained Earnings	73,781
Accumulated Other Comprehensive Income	-40,044
Other Stockholders Equity	106,045
Total Stockholder Equity (calculated)	153,040
+/-	0

Other

Capital Stock	13,258
Cash and Short Term Investments	-18,074
Common Stock Shares Outstanding	5,395
Current Deferred Revenue	-3,954
Liabilities and Stockholders Equity	1,646,017
Net Debt	51,535
Net Invested Capital	222,999
Net Working Capital	-756,890
Property Plant and Equipment Gross	46,873
Short Long Term Debt Total	79,925

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

2007-09-30

2007-06-30

2007-03-31

2006-12-31

2006-09-30

2006-06-30

2006-03-31

2005-12-31

2005-09-30

2005-06-30

2005-03-31

2004-12-31

2004-09-30

2004-06-30

2004-03-31

2003-12-31

2003-09-30

2003-06-30

2003-03-31

2002-12-31

2002-09-30

2002-06-30

2002-03-31

> Total Assets

146,804
154,020
159,883
170,609
186,736
198,921
207,515
213,745
225,576
229,130
235,147
277,004
274,079
283,021
281,837
285,328
285,185
278,786
292,067
302,514
299,068
297,579
319,176
461,047
451,520
464,673
464,066
489,516
515,777
474,627
507,606
491,019
486,740
483,941
512,994
533,976
506,892
508,011
537,053
543,919
530,432
548,773
567,624
555,842
545,678
569,539
605,030
638,808
614,525
610,328
643,886
625,473
654,657
626,796
644,800
635,800
633,773
660,790
703,279
717,099
798,873
820,958
848,410
918,403
1,847,122
1,911,825
1,972,525
1,935,207
1,744,940
1,733,756
1,622,853
1,571,654
1,584,088
1,562,579
1,646,017

1,646,017

1,562,579

1,584,088

1,571,654

1,622,853

1,733,756

1,744,940

1,935,207

1,972,525

1,911,825

1,847,122

918,403

848,410

820,958

798,873

717,099

703,279

660,790

633,773

635,800

644,800

626,796

654,657

625,473

643,886

610,328

614,525

638,808

605,030

569,539

545,678

555,842

567,624

548,773

530,432

543,919

537,053

508,011

506,892

533,976

512,994

483,941

486,740

491,019

507,606

474,627

515,777

489,516

464,066

464,673

451,520

461,047

319,176

297,579

299,068

302,514

292,067

278,786

285,185

285,328

281,837

283,021

274,079

277,004

235,147

229,130

225,576

213,745

207,515

198,921

186,736

170,609

159,883

154,020

146,804

> Total Current Assets

7,605
9,616
8,942
8,853
11,294
13,610
13,933
11,633
10,077
13,545
12,873
9,945
11,592
15,519
15,303
17,991
17,221
15,437
16,944
19,609
17,768
19,895
28,520
0
0
0
0
0
0
0
0
0
0
0
12,871
12,228
14,630
14,505
12,834
13,388
12,228
12,152
14,200
474,833
466,736
489,770
539,270
562,229
520,611
530,866
568,063
552,562
583,071
556,626
575,517
566,812
569,518
575,710
581,661
608,327
690,397
673,540
668,373
739,515
1,528,915
1,584,527
264,559
690,168
190,097
659,229
53,598
48,039
517,358
446,750
34,569

34,569

446,750

517,358

48,039

53,598

659,229

190,097

690,168

264,559

1,584,527

1,528,915

739,515

668,373

673,540

690,397

608,327

581,661

575,710

569,518

566,812

575,517

556,626

583,071

552,562

568,063

530,866

520,611

562,229

539,270

489,770

466,736

474,833

14,200

12,152

12,228

13,388

12,834

14,505

14,630

12,228

12,871

28,520

19,895

17,768

19,609

16,944

15,437

17,221

17,991

15,303

15,519

11,592

9,945

12,873

13,545

10,077

11,633

13,933

13,610

11,294

8,853

8,942

9,616

7,605

Cash And Cash Equivalents

5,974
7,924
7,398
7,180
9,587
11,775
11,989
9,280
8,284
11,069
10,711
6,956
9,035
12,646
12,322
14,360
14,128
11,889
13,492
14,860
14,482
16,152
25,093
0
0
0
0
0
0
0
0
0
0
0
12,871
12,228
14,630
14,505
12,834
13,388
12,228
12,152
14,200
9,786
11,732
9,103
10,047
10,139
9,596
7,143
11,390
6,902
8,315
7,669
11,741
10,965
12,483
13,870
14,908
19,312
10,116
11,399
8,116
17,407
207,358
273,113
356,377
328,085
162,848
91,967
40,091
35,269
29,939
17,375
28,390

28,390

17,375

29,939

35,269

40,091

91,967

162,848

328,085

356,377

273,113

207,358

17,407

8,116

11,399

10,116

19,312

14,908

13,870

12,483

10,965

11,741

7,669

8,315

6,902

11,390

7,143

9,596

10,139

10,047

9,103

11,732

9,786

14,200

12,152

12,228

13,388

12,834

14,505

14,630

12,228

12,871

25,093

16,152

14,482

14,860

13,492

11,889

14,128

14,360

12,322

12,646

9,035

6,956

10,711

11,069

8,284

9,280

11,989

11,775

9,587

7,180

7,398

7,924

5,974

Short-term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
133,027
137,177
134,415
142,627
141,816
154,674
120,158
115,460
74,801
71,436
69,545
70,447
56,662
67,771
85,355
71,049
67,501
64,931
63,581
62,100
61,392
61,312
56,848
77,930
114,041
102,054
102,772
141,245
174,086
173,088
266,973
277,046
303,817
341,361
461,830
538,459
538,186
492,760
473,868
390,816
420,595

420,595

390,816

473,868

492,760

538,186

538,459

461,830

341,361

303,817

277,046

266,973

173,088

174,086

141,245

102,772

102,054

114,041

77,930

56,848

61,312

61,392

62,100

63,581

64,931

67,501

71,049

85,355

67,771

56,662

70,447

69,545

71,436

74,801

115,460

120,158

154,674

141,816

142,627

134,415

137,177

133,027

Net Receivables

1,631
1,692
1,544
1,673
1,707
1,835
1,944
2,353
1,793
2,476
2,162
2,989
2,557
2,873
2,981
3,631
3,093
3,548
3,452
4,749
3,286
3,743
3,427
0
0
0
0
0
0
0
0
0
0
0
16,785
5,186
5,182
4,996
5,799
4,581
5,407
4,899
5,374
4,749
4,811
4,615
6,697
6,939
6,045
6,430
6,417
6,113
6,460
6,430
5,870
10,169
9,904
11,749
9,808
9,243
8,958
10,092
9,868
9,957
18,639
17,916
18,485
20,722
27,249
28,803
13,151
12,770
13,551
38,559
14,287

14,287

38,559

13,551

12,770

13,151

28,803

27,249

20,722

18,485

17,916

18,639

9,957

9,868

10,092

8,958

9,243

9,808

11,749

9,904

10,169

5,870

6,430

6,460

6,113

6,417

6,430

6,045

6,939

6,697

4,615

4,811

4,749

5,374

4,899

5,407

4,581

5,799

4,996

5,182

5,186

16,785

3,427

3,743

3,286

4,749

3,452

3,548

3,093

3,631

2,981

2,873

2,557

2,989

2,162

2,476

1,793

2,353

1,944

1,835

1,707

1,673

1,544

1,692

1,631

Other Current Assets

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
64,619
0
0
41,273
8,796
4,301
5,312
29,327
388,862
380,648
405,605
465,864
477,380
419,615
446,244
482,755
474,616
504,715
480,427
496,513
484,366
490,283
472,161
443,555
477,718
567,840
510,804
476,303
539,063
1,036,002
1,016,452
-414,120
152,523
-461,830
149,436
-537,830
40,001
35,031
23,794
34,569

34,569

23,794

35,031

40,001

-537,830

149,436

-461,830

152,523

-414,120

1,016,452

1,036,002

539,063

476,303

510,804

567,840

477,718

443,555

472,161

490,283

484,366

496,513

480,427

504,715

474,616

482,755

446,244

419,615

477,380

465,864

405,605

380,648

388,862

29,327

5,312

4,301

8,796

41,273

64,619

> Long-term Assets

40,250
38,822
37,730
38,815
36,377
34,762
38,021
43,428
40,974
47,223
45,312
44,394
43,007
40,540
43,318
62,024
60,586
56,023
41,847
34,611
31,767
29,685
33,378
0
0
0
0
0
0
0
0
0
0
0
9,824
9,611
9,601
9,513
9,465
9,335
9,138
8,875
8,668
81,009
78,942
79,769
65,760
76,579
93,914
79,462
75,823
72,911
71,586
70,170
69,283
68,988
64,255
85,080
120,966
108,772
109,187
147,418
180,037
178,888
318,207
327,298
353,178
390,014
504,151
579,570
56,013
54,104
511,649
427,440
1,611,448

1,611,448

427,440

511,649

54,104

56,013

579,570

504,151

390,014

353,178

327,298

318,207

178,888

180,037

147,418

109,187

108,772

120,966

85,080

64,255

68,988

69,283

70,170

71,586

72,911

75,823

79,462

93,914

76,579

65,760

79,769

78,942

81,009

8,668

8,875

9,138

9,335

9,465

9,513

9,601

9,611

9,824

33,378

29,685

31,767

34,611

41,847

56,023

60,586

62,024

43,318

40,540

43,007

44,394

45,312

47,223

40,974

43,428

38,021

34,762

36,377

38,815

37,730

38,822

40,250

Property Plant Equipment

4,585
4,535
4,330
4,140
4,127
3,957
3,876
4,094
4,046
3,897
3,774
3,640
3,519
3,485
3,525
3,541
3,615
4,102
4,304
4,549
5,487
6,906
8,536
11,618
11,333
10,987
10,692
11,644
11,402
11,098
10,654
10,335
10,099
9,967
9,824
9,611
9,601
9,513
9,465
9,335
9,138
8,875
8,668
8,445
8,294
8,245
8,046
7,781
7,558
7,437
7,371
7,056
7,105
7,195
7,042
6,846
6,594
6,354
6,145
5,955
5,669
5,444
5,238
5,104
33,757
33,209
32,676
32,424
26,536
25,758
24,344
24,012
24,198
23,408
22,943

22,943

23,408

24,198

24,012

24,344

25,758

26,536

32,424

32,676

33,209

33,757

5,104

5,238

5,444

5,669

5,955

6,145

6,354

6,594

6,846

7,042

7,195

7,105

7,056

7,371

7,437

7,558

7,781

8,046

8,245

8,294

8,445

8,668

8,875

9,138

9,335

9,465

9,513

9,601

9,611

9,824

9,967

10,099

10,335

10,654

11,098

11,402

11,644

10,692

10,987

11,333

11,618

8,536

6,906

5,487

4,549

4,304

4,102

3,615

3,541

3,525

3,485

3,519

3,640

3,774

3,897

4,046

4,094

3,876

3,957

4,127

4,140

4,330

4,535

4,585

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
372
372
372
372
372
372
372
372
372
372
372
372
372
372
372
372
372
372
372
372
372
8,898
8,898
8,140
8,140
8,140
8,140
7,768
7,768
7,768
7,768
7,768

7,768

8,140

8,898

372

Long Term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
288,685
0
0
310,090
337,241
363,631
386,585
420,097
0
421,407
427,611
478,447
483,861
489,101
497,200
524,741
520,774
530,307
522,649
532,299
523,455
56,848
77,930
114,041
102,054
102,772
631,601
174,086
615,453
266,973
277,046
303,817
341,361
461,830
538,459
538,186
492,760
473,868
390,816
420,595

420,595

390,816

473,868

492,760

538,186

538,459

461,830

341,361

303,817

277,046

266,973

615,453

174,086

631,601

102,772

102,054

114,041

77,930

56,848

523,455

532,299

522,649

530,307

520,774

524,741

497,200

489,101

483,861

478,447

427,611

421,407

420,097

386,585

363,631

337,241

310,090

288,685

Intangible Assets

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
756
731
705
680
655
629
604
579
553
528
503
477
458
441
424
408
391
374
357
341
324
8,579
8,145
8,545
8,089
7,645
7,213
6,586
6,195
5,815
5,448
5,093

5,093

5,448

5,815

6,195

6,586

7,213

7,645

8,089

8,545

8,145

8,579

324

341

357

374

391

408

424

441

458

477

503

528

553

579

604

629

655

680

705

731

756

Other Assets

98,949
105,582
113,211
122,941
139,065
150,549
155,561
158,684
174,525
168,362
176,962
222,665
219,480
226,962
223,216
205,313
207,378
207,326
233,276
248,294
249,533
247,999
257,278
100,147
109,023
109,444
103,297
106,638
117,868
127,992
141,252
147,847
141,284
144,448
490,299
512,137
482,661
483,993
514,754
521,196
509,066
527,746
544,756
636,851
624,620
649,308
670,790
715,387
708,439
689,790
719,709
698,384
726,243
696,966
714,083
704,788
698,028
745,870
652
825,871
-711
968,376
1,028,447
1,097,291
2,165,329
2,239,123
1,354,788
855,025
1,050,692
494,957
1,513,242
1,469,511
555,081
688,389
0

688,389

555,081

1,469,511

1,513,242

494,957

1,050,692

855,025

1,354,788

2,239,123

2,165,329

1,097,291

1,028,447

968,376

-711

825,871

652

745,870

698,028

704,788

714,083

696,966

726,243

698,384

719,709

689,790

708,439

715,387

670,790

649,308

624,620

636,851

544,756

527,746

509,066

521,196

514,754

483,993

482,661

512,137

490,299

144,448

141,284

147,847

141,252

127,992

117,868

106,638

103,297

109,444

109,023

100,147

257,278

247,999

249,533

248,294

233,276

207,326

207,378

205,313

223,216

226,962

219,480

222,665

176,962

168,362

174,525

158,684

155,561

150,549

139,065

122,941

113,211

105,582

98,949

> Total Liabilities

128,574
134,349
139,777
150,290
166,142
178,043
185,619
191,286
202,621
206,314
211,629
252,901
249,438
257,544
254,778
257,415
256,389
249,354
261,789
270,921
266,709
264,591
283,766
415,101
404,465
416,532
415,145
440,208
466,207
424,248
453,667
436,895
433,759
430,218
455,038
475,064
447,070
447,870
476,421
482,336
475,242
492,371
511,239
499,263
487,617
510,261
545,976
577,782
551,367
545,479
578,781
558,652
586,782
557,672
574,058
563,275
559,430
585,236
627,172
640,808
719,781
740,501
765,812
838,391
1,688,520
1,751,915
1,810,600
1,789,188
1,610,724
1,607,782
1,489,437
1,430,134
1,441,649
1,426,852
1,492,977

1,492,977

1,426,852

1,441,649

1,430,134

1,489,437

1,607,782

1,610,724

1,789,188

1,810,600

1,751,915

1,688,520

838,391

765,812

740,501

719,781

640,808

627,172

585,236

559,430

563,275

574,058

557,672

586,782

558,652

578,781

545,479

551,367

577,782

545,976

510,261

487,617

499,263

511,239

492,371

475,242

482,336

476,421

447,870

447,070

475,064

455,038

430,218

433,759

436,895

453,667

424,248

466,207

440,208

415,145

416,532

404,465

415,101

283,766

264,591

266,709

270,921

261,789

249,354

256,389

257,415

254,778

257,544

249,438

252,901

211,629

206,314

202,621

191,286

185,619

178,043

166,142

150,290

139,777

134,349

128,574

> Total Current Liabilities

449
199
229
316
369
349
349
406
491
335
440
748
860
457
625
762
1,065
953
947
1,309
1,117
792
836
0
0
0
0
0
0
0
0
0
0
0
8,281
1,495
1,177
1,238
1,707
1,178
1,337
1,290
1,616
1,951
1,478
1,542
1,625
2,173
1,016
1,208
1,727
2,328
1,649
1,977
1,525
6,076
5,911
5,790
5,961
5,672
5,580
5,980
5,048
4,231
4,905
3,913
24,130
4,166
6,925
1,183
6,173
5,968
3,667
3,282
791,459

791,459

3,282

3,667

5,968

6,173

1,183

6,925

4,166

24,130

3,913

4,905

4,231

5,048

5,980

5,580

5,672

5,961

5,790

5,911

6,076

1,525

1,977

1,649

2,328

1,727

1,208

1,016

2,173

1,625

1,542

1,478

1,951

1,616

1,290

1,337

1,178

1,707

1,238

1,177

1,495

8,281

836

792

1,117

1,309

947

953

1,065

762

625

457

860

748

440

335

491

406

349

369

316

229

199

449

Short-term Debt

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
19,700
12,958
19,942
37,001
34,526
31,482
0
0
0
0
0
0
0
0
0
0
0
0
12,582
12,582
24,130
7,295
6,925
409
6,173
5,968
59,666
43,000
4,340

4,340

43,000

59,666

5,968

6,173

409

6,925

7,295

24,130

12,582

31,482

34,526

37,001

19,942

12,958

19,700

Short Long Term Debt

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
19,700
12,958
19,942
37,001
34,526
31,482
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
59,666
43,000
0

43,000

59,666

31,482

34,526

37,001

19,942

12,958

19,700

Accounts payable

449
199
229
316
369
349
349
406
491
335
440
748
860
457
625
762
1,065
953
947
1,309
1,117
792
836
412,076
400,528
411,333
411,868
436,395
463,236
420,348
445,422
433,056
423,927
417,558
8,281
1,495
1,177
1,238
1,707
1,178
1,337
1,290
1,616
1,951
1,478
1,542
1,625
2,173
1,016
1,208
1,727
2,328
1,649
1,977
1,525
6,076
5,911
5,790
5,961
5,672
5,580
5,980
5,048
4,231
4,905
3,913
3,955
4,166
1,511
1,183
1,513
4,232
3,667
3,282
3,954

3,954

3,282

3,667

4,232

1,513

1,183

1,511

4,166

3,955

3,913

4,905

4,231

5,048

5,980

5,580

5,672

5,961

5,790

5,911

6,076

1,525

1,977

1,649

2,328

1,727

1,208

1,016

2,173

1,625

1,542

1,478

1,951

1,616

1,290

1,337

1,178

1,707

1,238

1,177

1,495

8,281

417,558

423,927

433,056

445,422

420,348

463,236

436,395

411,868

411,333

400,528

412,076

836

792

1,117

1,309

947

953

1,065

762

625

457

860

748

440

335

491

406

349

369

316

229

199

449

Other Current Liabilities

-449
-199
-229
-316
-369
-349
-349
-406
-491
-335
-440
-748
-860
-457
-625
-762
-1,065
-953
-947
-1,309
-1,117
-792
-836
0
0
0
0
0
0
0
0
0
0
0
-8,281
-1,495
-1,177
-1,238
-1,707
-1,178
-1,337
-1,290
-1,616
-1,951
-1,478
-1,542
-1,625
-2,173
-1,016
-1,208
-1,727
-2,328
-1,649
-1,977
-1,525
-6,076
-5,911
-5,790
-5,961
-5,672
-5,580
-5,980
-5,048
-4,231
-4,905
-3,913
-3,955
-4,166
-1,511
-1,183
-1,513
-4,232
-3,667
-3,282
787,119

787,119

-3,282

-3,667

-4,232

-1,513

-1,183

-1,511

-4,166

-3,955

-3,913

-4,905

-4,231

-5,048

-5,980

-5,580

-5,672

-5,961

-5,790

-5,911

-6,076

-1,525

-1,977

-1,649

-2,328

-1,727

-1,208

-1,016

-2,173

-1,625

-1,542

-1,478

-1,951

-1,616

-1,290

-1,337

-1,178

-1,707

-1,238

-1,177

-1,495

-8,281

-836

-792

-1,117

-1,309

-947

-953

-1,065

-762

-625

-457

-860

-748

-440

-335

-491

-406

-349

-369

-316

-229

-199

-449

> Long-term Liabilities

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
13,448
0
0
17,995
19,514
16,108
19,436
23,156
0
15,719
13,540
19,700
12,958
19,942
37,001
34,092
31,482
48,387
17,193
0
0
0
0
0
0
0
40,000
30,000
30,000
54,167
10,819
10,475
10,674
10,315
1,183
1,483,770
1,424,166
69,403
53,272
701,518

701,518

53,272

69,403

1,424,166

1,483,770

1,183

10,315

10,674

10,475

10,819

54,167

30,000

40,000

17,193

48,387

31,482

34,092

37,001

19,942

12,958

19,700

13,540

15,719

23,156

19,436

16,108

19,514

17,995

13,448

Long term Debt Total

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,345
3,356
3,367
3,379
3,390
3,401
0
3,424
0
0
0

3,424

3,401

3,390

3,379

3,367

3,356

3,345

Other Liabilities

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,079
1,073
1,215
654
704
687
818
4,245
846
800
963
8,281
1,495
1,177
1,238
1,707
1,178
1,337
1,290
1,571
1,951
1,478
1,542
1,625
2,173
1,016
1,208
1,727
2,328
1,933
2,221
1,282
1,626
1,649
1,651
1,410
1,973
2,117
2,021
1,300
689
4,684
3,740
3,370
4,030
1,687
1,598
1,862
0
2,608
0
0

2,608

1,862

1,598

1,687

4,030

3,370

3,740

4,684

689

1,300

2,021

2,117

1,973

1,410

1,651

1,649

1,626

1,282

2,221

1,933

2,328

1,727

1,208

1,016

2,173

1,625

1,542

1,478

1,951

1,571

1,290

1,337

1,178

1,707

1,238

1,177

1,495

8,281

963

800

846

4,245

818

687

704

654

1,215

1,073

1,079

> Total Stockholder Equity

18,230
19,671
20,106
20,319
20,594
20,878
21,896
22,459
22,955
22,816
23,518
24,103
24,641
25,477
27,059
27,913
28,796
29,432
30,278
31,593
32,359
32,988
35,410
45,946
47,055
48,141
48,921
49,308
49,570
50,379
53,939
54,124
52,981
53,723
57,956
58,912
59,822
60,141
60,632
61,583
55,190
56,402
56,385
56,579
58,061
59,278
59,054
61,026
63,158
64,849
65,105
66,821
67,875
69,124
70,742
72,525
74,343
75,554
76,107
76,291
79,092
80,457
82,598
80,012
158,602
159,910
161,925
146,019
134,216
125,974
133,416
141,520
142,439
135,727
153,040

153,040

135,727

142,439

141,520

133,416

125,974

134,216

146,019

161,925

159,910

158,602

80,012

82,598

80,457

79,092

76,291

76,107

75,554

74,343

72,525

70,742

69,124

67,875

66,821

65,105

64,849

63,158

61,026

59,054

59,278

58,061

56,579

56,385

56,402

55,190

61,583

60,632

60,141

59,822

58,912

57,956

53,723

52,981

54,124

53,939

50,379

49,570

49,308

48,921

48,141

47,055

45,946

35,410

32,988

32,359

31,593

30,278

29,432

28,796

27,913

27,059

25,477

24,641

24,103

23,518

22,816

22,955

22,459

21,896

20,878

20,594

20,319

20,106

19,671

18,230

Common Stock

4,681
4,681
4,681
4,681
4,681
4,681
4,889
4,889
4,889
4,889
4,889
4,889
4,925
4,930
5,115
5,115
5,343
5,370
5,373
5,378
5,392
5,399
5,678
5,842
6,718
6,718
6,723
6,723
6,723
6,723
6,724
6,724
6,724
6,724
6,725
6,725
6,740
6,749
6,721
6,722
6,090
6,090
6,031
5,897
5,900
5,922
5,922
5,955
5,980
6,027
6,027
6,043
6,353
6,359
6,359
6,400
6,400
6,720
6,720
6,720
6,720
6,722
6,722
6,730
13,176
13,178
13,178
13,190
13,201
13,214
13,214
13,238
13,239
13,253
13,258

13,258

13,253

13,239

13,238

13,214

13,201

13,190

13,178

13,176

6,730

6,722

6,720

6,400

6,359

6,353

6,043

6,027

5,980

5,955

5,922

5,900

5,897

6,031

6,090

6,722

6,721

6,749

6,740

6,725

6,724

6,723

6,718

5,842

5,678

5,399

5,392

5,378

5,373

5,370

5,343

5,115

4,930

4,925

4,889

4,681

Retained Earnings

-690
-550
-326
-65
187
367
731
1,309
1,652
2,001
2,516
3,249
3,856
4,586
5,499
6,335
6,921
7,338
7,948
9,001
9,478
9,874
10,271
17,828
12,727
13,751
14,493
14,827
15,078
15,871
19,406
19,563
18,390
19,106
24,747
25,119
25,362
25,542
25,978
26,192
26,716
27,310
28,258
29,289
30,493
31,581
32,759
34,185
35,723
37,082
37,778
35,263
36,332
37,729
38,647
39,126
35,522
36,611
37,235
37,828
39,102
40,158
41,959
42,650
41,201
42,746
46,374
49,764
53,852
58,026
63,482
65,621
67,612
70,494
73,781

73,781

70,494

67,612

65,621

63,482

58,026

53,852

49,764

46,374

42,746

41,201

42,650

41,959

40,158

39,102

37,828

37,235

36,611

35,522

39,126

38,647

37,729

36,332

35,263

37,778

37,082

35,723

34,185

32,759

31,581

30,493

29,289

28,258

27,310

26,716

26,192

25,978

25,542

25,362

25,119

24,747

19,106

18,390

19,563

19,406

15,871

15,078

14,827

14,493

13,751

12,727

17,828

10,271

9,874

9,478

9,001

7,948

7,338

6,921

6,335

5,499

4,586

3,856

3,249

2,516

2,001

1,652

1,309

731

367

187

-65

-326

-550

-690

Capital Surplus

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
27,934
0
0
27,889
27,902
22,750
22,757
22,214
0
21,140
21,262
21,152
21,395
21,596
22,036
22,038
26,840
26,921
26,989
27,013
27,522
32,138
32,160
32,195
32,234
32,307
32,377
0
32,559
104,360
104,446
104,584
104,706
104,858
105,095
0
105,491
0
0
0

105,491

105,095

104,858

104,706

104,584

104,446

104,360

32,559

32,377

32,307

32,234

32,195

32,160

32,138

27,522

27,013

26,989

26,921

26,840

22,038

22,036

21,596

21,395

21,152

21,262

21,140

22,214

22,757

22,750

27,902

27,889

27,934

Treasury Stock

Other Stockholders Equity

14,239
15,090
15,090
15,087
15,079
15,087
15,709
15,709
15,709
15,709
15,709
15,709
15,817
15,832
16,387
16,505
16,780
16,987
17,125
17,344
17,586
17,801
19,471
0
0
0
0
0
0
0
0
0
0
0
27,915
27,934
28,043
28,121
27,889
27,902
22,750
22,757
22,214
21,117
21,140
21,262
21,152
21,395
21,596
22,036
22,038
27,141
26,921
26,989
27,013
27,522
32,458
32,160
32,195
32,234
32,307
32,377
32,457
32,559
104,360
104,446
104,584
104,706
104,858
105,095
105,344
105,491
107,568
107,752
106,045

106,045

107,752

107,568

105,491

105,344

105,095

104,858

104,706

104,584

104,446

104,360

32,559

32,457

32,377

32,307

32,234

32,195

32,160

32,458

27,522

27,013

26,989

26,921

27,141

22,038

22,036

21,596

21,395

21,152

21,262

21,140

21,117

22,214

22,757

22,750

27,902

27,889

28,121

28,043

27,934

27,915

19,471

17,801

17,586

17,344

17,125

16,987

16,780

16,505

16,387

15,832

15,817

15,709

15,087

15,079

15,087

15,090

14,239

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	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31
Accounts Payable	3,954	1,513	3,955	5,048	5,961	1,525	1,727	1,625	1,616	1,707	8,281	4,245	700	1,309	762	748	406	316	536
Accumulated Amortization	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
Accumulated Other Comprehensive Income	-40,044	-48,624	-2,211	1,460	-43	-1,277	-738	-779	-118	44	-1,431	1,152	-11,500	-130	-217	81	377	441	251
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	6,504	6,173	7,108	3,589	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Stock	13,258	13,214	13,178	6,722	6,720	6,359	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	0	0	104,584	0	32,195	27,013	22,038	21,152	22,214	27,889	0	0	0	0	0	0	0	0	0
Cash	28,390	40,091	356,377	8,116	14,908	11,741	11,390	10,047	14,200	12,834	12,871	15,647	12,477	14,860	14,360	6,956	9,280	7,180	4,910
Cash And Equivalents	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash And Short Term Investments	-18,074	578,277	660,194	182,202	128,949	73,133	78,891	66,709	89,001	154,650	145,898	126,500	0	14,860	14,360	6,956	9,280	7,180	4,910
Common Stock	13,258	13,214	13,178	6,722	6,720	6,359	6,027	5,922	6,031	6,721	6,725	6,724	6,700	5,378	5,115	4,889	4,889	4,681	4,681
Common Stock Shares Outstanding	5,373	5,351	4,695	2,709	2,690	2,686	2,662	2,628	2,803	2,984	2,966	2,966	2,970	2,906	2,879	2,654	2,654	2,554	2,554
Common Stock Total Equity	0	0	13,178	6,722	6,720	6,359	6,027	5,922	6,721	6,721	6,725	6,724	6,700	5,378	5,115	4,889	4,889	4,681	4,681
Current Deferred Revenue	-3,954	0	2,421	-5,829	5,162	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Liab	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
Good Will	7,768	7,768	8,140	372	372	372	372	372	0	0	0	0	0	0	0	0	0	0	0
Intangible Assets	5,093	6,586	8,545	341	408	477	579	680	0	0	0	0	0	0	0	0	0	0	0
Inventory	3,787	0	-513,229	-37,599	-21,325	1	0	0	0	2,114	3,133	2,329	4,242	0	0	0	0	0	0
Liabilities And Stockholders Equity	1,646,017	1,622,853	1,972,525	848,410	703,279	644,800	643,886	605,030	567,624	537,053	512,994	507,606	464,000	302,514	285,328	277,004	213,745	170,609	142,616
Long Term Debt	69,959	3,413	3,367	30,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Debt Total	0	0	3,367	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Investments	420,595	538,186	303,817	174,086	114,041	61,392	67,501	56,662	420,097	310,090	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
Net Debt	51,535	-30,505	-345,902	21,884	-11,304	-11,741	-11,390	-10,047	-14,200	-12,834	-12,871	-15,647	2,600	-14,860	-14,360	-6,956	-9,280	-7,180	-4,910
Net Invested Capital	222,999	136,829	165,292	112,598	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Receivables	14,287	13,151	18,485	9,868	9,808	5,870	6,417	6,697	5,374	5,799	16,785	11,112	0	4,749	3,631	2,989	2,353	1,673	1,307
Net Tangible Assets	0	119,062	145,240	81,885	75,327	69,893	64,154	58,002	56,297	60,632	0	0	0	0	0	0	0	0	0
Net Working Capital	-756,890	47,425	674,724	187,022	132,796	573,992	566,336	537,645	12,584	11,127	4,590	133,367	0	18,300	17,229	9,197	11,227	8,537	5,681
Non Current Assets Total	1,611,448	56,013	353,178	180,037	120,966	69,283	75,823	65,760	8,668	9,465	9,824	127,498	-100	34,611	62,024	44,394	43,428	38,815	30,699
Non Current Liabilities Other	0	0	7,108	0	0	0	34,092	19,700	23,156	17,995	0	0	0	0	0	0	0	0	0
Non Current Liabilities Total	701,518	1,483,770	10,475	30,000	337,624	0	34,092	19,700	23,156	17,995	0	0	0	0	0	0	0	0	0
Non Currrent Assets Other	1,539,161	-538,186	-353,178	-180,037	-120,966	-61,764	-67,873	-57,034	-74,801	-141,816	-133,027	-127,498	-10,700	-34,611	-62,024	-44,394	-43,428	-38,815	-30,699
Noncontrolling Interest In Consolidated Entity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	0	1,513,242	940,668	476,303	443,556	714,083	719,709	670,790	544,756	514,754	490,299	242,496	464,100	248,294	205,313	222,665	158,684	122,941	105,700
Other Current Assets	34,569	-537,830	513,229	37,599	21,325	496,513	482,755	465,864	29,327	41,273	0	0	0	0	0	0	0	0	0
Other Current Liab	787,119	-1,513	-3,955	-5,048	-5,961	-1,525	-1,727	-1,625	-1,616	-1,707	-8,281	-4,245	0	-1,309	-762	-748	-406	-316	-536
Other Liab	0	1,862	3,370	1,300	1,410	1,282	1,617	1,518	1,465	1,707	8,281	4,245	654	0	0	0	0	0	0
Other Stockholder Equity	106,045	105,344	104,584	32,457	32,195	27,013	22,038	21,152	22,214	27,889	27,915	27,809	40,900	17,344	16,505	15,709	15,709	15,087	14,386
Preferred Stock Redeemable	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
Property Plant And Equipment Gross	46,873	24,344	32,676	5,238	6,145	7,042	7,371	8,046	9,465	9,465	9,824	10,654	10,700	4,549	3,541	3,640	4,094	4,140	4,278
Property Plant And Equipment Net	22,943	24,344	32,676	5,238	6,145	7,042	7,371	8,046	8,668	9,465	9,824	10,654	10,700	4,549	3,541	3,640	4,094	4,140	4,278
Property Plant Equipment	0	24,344	32,676	8,765	9,721	7,042	7,371	8,046	8,668	9,465	9,824	10,654	10,692	0	0	0	0	0	0
Retained Earnings	73,781	63,482	46,374	41,959	37,235	38,647	37,778	32,759	28,258	25,978	24,747	18,254	12,800	9,001	6,335	3,249	1,309	-65	-835
Retained Earnings Total Equity	0	0	46,436	0	37,235	38,647	37,923	32,759	28,170	25,978	0	0	0	0	0	0	0	0	0
Short Long Term Debt	0	0	0	0	0	0	0	0	0	18,048	0	0	0	0	0	0	0	0	0
Short Long Term Debt Total	79,925	9,586	10,475	30,000	3,604	0	0	0	0	0	0	0	2,600	0	0	0	0	0	0
Short Term Debt	4,340	6,173	1,534	10,877	799	0	0	0	0	18,048	0	0	2,600	0	0	0	0	0	0
Short Term Investments	420,595	538,186	303,817	174,086	114,041	61,392	67,501	56,662	74,801	141,816	133,027	110,853	44,567	0	0	0	0	0	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Assets	1,646,017	1,622,853	1,972,525	848,410	703,279	644,800	643,886	605,030	567,624	537,053	512,994	507,606	464,000	302,514	285,328	277,004	213,745	170,609	142,616
Total Current Assets	34,569	53,598	678,679	192,070	138,757	575,517	568,063	539,270	14,200	12,834	12,871	137,612	0	19,609	17,991	9,945	11,633	8,853	6,217
Total Current Liabilities	791,459	6,173	3,955	5,048	5,961	1,525	1,727	1,625	1,616	1,707	8,281	4,245	3,300	1,309	762	748	406	316	536
Total Liab	1,492,977	1,489,437	1,810,600	765,812	5,961	574,058	578,781	545,976	511,239	476,421	455,038	453,667	415,100	270,921	257,415	252,901	191,286	150,290	124,384
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Stockholder Equity	153,040	133,416	161,925	82,598	76,107	70,742	65,105	59,054	56,385	60,632	57,956	53,939	48,900	31,593	27,913	24,103	22,459	20,319	18,232
Treasury Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

	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	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31
Accounts Payable	3,954	3,282	3,667	4,232	1,513	1,183	1,511	4,166	3,955	3,913	4,905	4,231	5,048	5,980	5,580	5,672	5,961	5,790	5,911	6,076	1,525	1,977	1,649	2,328	1,727	1,208	1,016	2,173	1,625	1,542	1,478	1,951	1,616	1,290	1,337	1,178	1,707	1,238	1,177	1,495	8,281	417,558	423,927	433,056	445,422	420,348	463,236	436,395	411,868	411,333	400,528	412,076	836	792	1,117	1,309	947	953	1,065	762	625	457	860	748	440	335	491	406	349	349	369	316	229	199	449
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Other Comprehensive Income	-40,044	-55,772	-45,980	-42,830	-48,624	-50,361	-37,695	-21,641	-2,211	-460	-135	-1,927	1,460	1,200	963	-491	-43	63	-37	-523	-1,277	-1,953	-1,731	-1,626	-738	-296	-141	-509	-779	513	528	276	-118	245	-366	767	44	-271	-323	-866	-1,431	0	0	0	0	0	0	0	0	0	0	0	-10	-86	-97	-130	-168	-263	-248	-217	-117	-46	-132	81	229	42	530	377	392	568	472	441	486	275	104
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	6,504	6,824	6,301	5,968	6,173	6,551	6,925	7,295	7,108	7,463	7,833	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	13,258	13,253	13,239	13,238	13,214	13,214	13,201	13,190	13,178	13,178	13,176	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	0	0	0	105,491	0	105,095	104,858	104,706	104,584	104,446	104,360	32,559	0	32,377	32,307	32,234	32,195	32,160	32,138	27,522	27,013	26,989	26,921	26,840	22,038	22,036	21,596	21,395	21,152	21,262	21,140	0	22,214	22,757	22,750	27,902	27,889	0	0	27,934	0	0	0	0	0	0	0	0	0	0	0	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	28,390	17,375	29,939	35,269	40,091	91,967	162,848	328,085	356,377	273,113	207,358	17,407	8,116	11,399	10,116	19,312	14,908	13,870	12,483	10,965	11,741	7,669	8,315	6,902	11,390	7,143	9,596	10,139	10,047	9,103	11,732	9,786	14,200	12,152	12,228	13,388	12,834	14,505	14,630	12,228	12,871	0	0	0	0	0	0	0	0	0	0	0	25,093	16,152	14,482	14,860	13,492	11,889	14,128	14,360	12,322	12,646	9,035	6,956	10,711	11,069	8,284	9,280	11,989	11,775	9,587	7,180	7,398	7,924	5,974
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	0	0	0	0	0	0	0	0	0
Cash And Short Term Investments	-18,074	408,191	503,807	35,269	578,277	630,426	624,678	669,446	660,194	550,159	474,331	190,495	182,202	152,644	112,888	121,366	128,949	91,800	69,331	72,277	73,133	69,769	71,896	71,832	78,891	78,192	94,951	77,910	66,709	79,550	81,277	81,222	89,001	127,612	132,386	168,062	154,650	157,132	149,045	149,405	145,898	0	0	0	0	0	0	0	0	0	0	0	25,093	16,152	14,482	14,860	13,492	11,889	14,128	14,360	12,322	12,646	9,035	6,956	10,711	11,069	8,284	9,280	11,989	11,775	9,587	7,180	7,398	7,924	5,974
Common Stock	13,258	13,253	13,239	13,238	13,214	13,214	13,201	13,190	13,178	13,178	13,176	6,730	6,722	6,722	6,720	6,720	6,720	6,720	6,400	6,400	6,359	6,359	6,353	6,043	6,027	6,027	5,980	5,955	5,922	5,922	5,900	5,897	6,031	6,090	6,090	6,722	6,721	6,749	6,740	6,725	6,725	6,724	6,724	6,724	6,724	6,723	6,723	6,723	6,723	6,718	6,718	5,842	5,678	5,399	5,392	5,378	5,373	5,370	5,343	5,115	5,115	4,930	4,925	4,889	4,889	4,889	4,889	4,889	4,889	4,681	4,681	4,681	4,681	4,681	4,681
Common Stock Shares Outstanding	5,395	5,395	5,375	5,376	5,362	5,349	5,347	5,326	5,308	5,339	5,320	2,727	2,715	2,717	2,711	2,694	2,693	2,690	2,689	2,687	2,682	2,690	2,688	2,683	2,679	2,670	2,656	2,640	2,629	2,624	2,618	2,643	2,695	2,696	2,852	2,975	2,990	2,991	2,984	2,973	2,973	2,966	2,966	2,966	20,816	623	1,563	3,681	6,116	2,129	1,152	3,186	2,873	2,894	2,896	2,896	2,887	2,930	2,916	2,916	2,877	2,854	2,875	2,875	2,782	2,772	2,711	2,711	2,625	2,645	2,554	2,554	2,645	2,645	2,645
Common Stock Total Equity	0	0	0	13,238	0	13,214	13,201	13,190	13,178	13,178	13,176	6,722	6,722	6,722	6,720	6,720	6,720	6,720	6,400	6,400	6,359	6,359	6,353	6,043	6,027	6,027	5,980	5,955	5,922	5,922	5,900	5,897	6,031	6,090	6,090	6,722	6,721	6,749	6,740	6,725	6,725	0	0	0	0	0	0	0	0	0	0	0	5,678	5,399	5,392	5,378	5,373	5,370	5,343	5,115	5,115	4,930	4,925	4,889	4,889	4,889	4,889	4,889	4,889	4,681	4,681	4,681	4,681	4,681	4,681
Current Deferred Revenue	-3,954	-39,718	-55,999	0	0	774	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Liab	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Good Will	7,768	7,768	7,768	7,768	7,768	8,140	8,140	8,140	8,140	8,898	8,898	372	372	372	372	372	372	372	372	372	372	372	372	372	372	372	372	372	372	372	372	372	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Intangible Assets	5,093	5,448	5,815	6,195	6,586	7,213	7,645	8,089	8,545	8,145	8,579	324	341	357	374	391	408	424	441	458	477	503	528	553	579	604	629	655	680	705	731	756	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Inventory	3,787	-23,794	-35,031	-40,001	0	-149,436	0	611	611	611	-57	0	0	0	711	0	-651	0	0	0	1	0	0	1	0	0	0	0	0	0	0	0	0	540	732	1,177	2,114	1,507	2,248	2,267	3,133	2,550	2,550	1,746	2,329	1,853	3,657	4,242	4,242	3,882	3,562	329	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Liabilities And Stockholders Equity	1,646,017	1,562,579	1,584,088	1,571,654	1,622,853	1,733,756	1,744,940	1,935,207	1,972,525	1,911,825	1,847,122	918,403	848,410	820,958	798,873	717,099	703,279	660,790	633,773	635,800	644,800	626,796	654,657	625,473	643,886	610,328	614,525	638,808	605,030	569,539	545,678	555,842	567,624	548,773	530,432	543,919	537,053	508,011	506,892	533,976	512,994	0	0	0	0	0	0	0	0	0	0	0	319,176	297,579	299,068	302,514	292,067	278,786	285,185	285,328	281,837	283,021	274,079	277,004	235,147	229,130	225,576	213,745	207,515	198,921	186,736	170,609	159,883	154,020	146,804
Long Term Debt	69,959	46,448	63,102	22,674	3,413	3,401	3,390	3,379	3,367	3,356	46,334	30,000	30,000	40,000	0	0	0	0	0	4,113	0	0	0	15,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Debt Total	0	0	0	3,424	0	3,401	3,390	3,379	3,367	3,356	3,345	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Investments	420,595	390,816	473,868	492,760	538,186	538,459	461,830	341,361	303,817	277,046	266,973	615,453	174,086	631,601	102,772	102,054	114,041	77,930	56,848	523,455	532,299	522,649	530,307	520,774	524,741	497,200	489,101	483,861	478,447	427,611	421,407	0	420,097	386,585	363,631	337,241	310,090	0	0	288,685	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Debt	51,535	35,897	39,464	-6,627	-30,505	-82,015	-152,533	-317,411	-345,902	-262,294	-153,191	12,593	21,884	28,601	-10,116	-19,312	-14,908	-13,870	-12,483	-10,965	-11,741	-7,669	-8,315	-6,902	-11,390	-7,143	-9,596	-10,139	-10,047	-9,103	-11,732	-9,786	-14,200	-12,152	-12,228	-13,388	-12,834	-14,505	-14,630	-12,228	-12,871	0	0	0	0	0	0	0	0	0	0	0	-25,093	-16,152	-14,482	-14,860	-13,492	-11,889	-14,128	-14,360	-12,322	-12,646	-9,035	-6,956	-10,711	-11,069	-8,284	-9,280	-11,989	-11,775	-9,587	-7,180	-7,398	-7,924	-5,974
Net Invested Capital	222,999	182,175	205,541	164,194	136,829	129,375	137,606	149,398	165,292	163,266	204,936	110,012	112,598	120,457	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	14,287	38,559	13,551	12,770	13,151	28,803	27,249	20,722	18,485	17,916	18,639	9,957	9,868	10,092	8,958	9,243	9,808	11,749	9,904	10,169	5,870	6,430	6,460	6,113	6,417	6,430	6,045	6,939	6,697	4,615	4,811	4,749	5,374	4,899	5,407	4,581	5,799	4,996	5,182	5,186	16,785	0	0	0	0	0	0	0	0	0	0	0	3,427	3,743	3,286	4,749	3,452	3,548	3,093	3,631	2,981	2,873	2,557	2,989	2,162	2,476	1,793	2,353	1,944	1,835	1,707	1,673	1,544	1,692	1,631
Net Tangible Assets	0	122,511	0	127,534	119,062	110,621	118,431	129,790	145,240	142,867	141,125	79,316	81,885	79,728	78,346	75,528	75,327	74,758	73,530	71,695	69,893	68,249	66,975	65,896	64,154	63,873	62,157	59,999	58,002	58,201	56,958	0	56,297	56,402	55,190	61,583	60,632	0	0	58,912	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Working Capital	-756,890	443,468	513,691	42,071	47,425	658,046	183,172	686,002	240,429	1,580,614	1,524,010	735,284	663,325	667,560	684,817	602,655	575,700	569,920	563,607	560,736	573,992	554,649	581,422	550,234	566,336	529,658	519,595	560,056	537,645	488,228	465,258	472,882	12,584	10,862	10,891	12,210	11,127	13,267	13,453	10,733	4,590	0	0	0	0	0	0	0	0	0	0	0	27,684	19,103	16,651	18,300	15,997	14,484	16,156	17,229	14,678	15,062	10,732	9,197	12,433	13,210	9,586	11,227	13,584	13,261	10,925	8,537	8,713	9,417	7,156
Non Current Assets Total	1,611,448	427,440	511,649	54,104	56,013	579,570	504,151	390,014	353,178	327,298	318,207	178,888	180,037	147,418	109,187	108,772	120,966	85,080	64,255	68,988	69,283	70,170	71,586	72,911	75,823	79,462	93,914	76,579	65,760	79,769	78,942	81,009	8,668	8,875	9,138	9,335	9,465	9,513	9,601	9,611	9,824	0	0	0	0	0	0	0	0	0	0	0	33,378	29,685	31,767	34,611	41,847	56,023	60,586	62,024	43,318	40,540	43,007	44,394	45,312	47,223	40,974	43,428	38,021	34,762	36,377	38,815	37,730	38,822	40,250
Non Current Liabilities Other	0	0	0	5,968	0	6,551	6,925	7,295	7,108	7,463	50,822	30,000	0	40,000	0	0	0	0	0	0	0	17,193	48,387	31,482	34,092	37,001	19,942	12,958	19,700	13,540	15,719	0	23,156	19,436	16,108	19,514	17,995	0	0	13,448	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Current Liabilities Total	701,518	53,272	69,403	1,424,166	1,483,770	1,183	10,315	10,674	10,475	10,819	54,167	30,000	30,000	40,000	0	0	0	0	0	0	0	17,193	48,387	31,482	34,092	37,001	19,942	12,958	19,700	13,540	15,719	0	23,156	19,436	16,108	19,514	17,995	0	0	13,448	0	0	0	0	0	0	0	0	0	0	0	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 Currrent Assets Other	1,539,161	-19,567	-16,961	-492,760	-538,186	-579,570	61,066	65,453	56,961	56,919	-296,682	-178,192	0	-146,689	575,773	485,225	451,029	482,226	-53,290	-57,579	-61,764	-62,470	-63,986	-1	-67,823	-71,462	-85,714	-68,079	-57,060	-70,869	-69,942	-71,809	-74,801	-115,460	-120,158	-154,674	-141,816	-142,627	-134,415	-137,177	-133,027	0	0	0	0	0	0	0	0	0	0	0	-33,378	-29,685	-31,767	-34,611	-41,847	-56,023	-60,586	-62,024	-43,318	-40,540	-43,007	-44,394	-45,312	-47,223	-40,974	-43,428	-38,021	-34,762	-36,377	-38,815	-37,730	-38,822	-40,250
Noncontrolling Interest In Consolidated Entity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	0	688,389	555,081	1,469,511	1,513,242	494,957	1,050,692	855,025	1,354,788	2,239,123	2,165,329	1,097,291	1,028,447	968,376	-711	825,871	652	745,870	698,028	704,788	714,083	696,966	726,243	698,384	719,709	689,790	708,439	715,387	670,790	649,308	624,620	636,851	544,756	527,746	509,066	521,196	514,754	483,993	482,661	512,137	490,299	144,448	141,284	147,847	141,252	127,992	117,868	106,638	103,297	109,444	109,023	100,147	257,278	247,999	249,533	248,294	233,276	207,326	207,378	205,313	223,216	226,962	219,480	222,665	176,962	168,362	174,525	158,684	155,561	150,549	139,065	122,941	113,211	105,582	98,949
Other Current Assets	34,569	23,794	35,031	40,001	-537,830	149,436	-461,830	152,523	-414,120	1,016,452	1,036,002	539,063	476,303	510,804	567,840	477,718	443,555	472,161	490,283	484,366	496,513	480,427	504,715	474,616	482,755	446,244	419,615	477,380	465,864	405,605	380,648	388,862	29,327	5,312	4,301	8,796	41,273	0	0	64,619	0	0	0	0	0	0	0	0	0	0	0	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 Current Liab	787,119	-3,282	-3,667	-4,232	-1,513	-1,183	-1,511	-4,166	-3,955	-3,913	-4,905	-4,231	-5,048	-5,980	-5,580	-5,672	-5,961	-5,790	-5,911	-6,076	-1,525	-1,977	-1,649	-2,328	-1,727	-1,208	-1,016	-2,173	-1,625	-1,542	-1,478	-1,951	-1,616	-1,290	-1,337	-1,178	-1,707	-1,238	-1,177	-1,495	-8,281	0	0	0	0	0	0	0	0	0	0	0	-836	-792	-1,117	-1,309	-947	-953	-1,065	-762	-625	-457	-860	-748	-440	-335	-491	-406	-349	-349	-369	-316	-229	-199	-449
Other Liab	0	0	2,608	0	1,862	1,598	1,687	4,030	3,370	3,740	4,684	689	1,300	2,021	2,117	1,973	1,410	1,651	1,649	1,626	1,282	2,221	1,933	2,328	1,727	1,208	1,016	2,173	1,625	1,542	1,478	1,951	1,571	1,290	1,337	1,178	1,707	1,238	1,177	1,495	8,281	963	800	846	4,245	818	687	704	654	1,215	1,073	1,079	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Stockholder Equity	106,045	107,752	107,568	105,491	105,344	105,095	104,858	104,706	104,584	104,446	104,360	32,559	32,457	32,377	32,307	32,234	32,195	32,160	32,458	27,522	27,013	26,989	26,921	27,141	22,038	22,036	21,596	21,395	21,152	21,262	21,140	21,117	22,214	22,757	22,750	27,902	27,889	28,121	28,043	27,934	27,915	0	0	0	0	0	0	0	0	0	0	0	19,471	17,801	17,586	17,344	17,125	16,987	16,780	16,505	16,387	15,832	15,817	15,709	15,709	15,709	15,709	15,709	15,709	15,087	15,079	15,087	15,090	15,090	14,239
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Property Plant And Equipment Gross	46,873	23,408	24,198	24,012	24,344	25,758	0	0	0	0	33,757	5,238	5,238	5,444	5,669	5,955	6,145	6,354	6,594	6,846	7,042	7,195	7,105	7,056	7,371	7,437	7,558	7,781	8,046	8,245	8,294	8,445	8,668	8,875	9,138	9,335	9,465	9,513	9,601	9,611	9,824	0	0	0	0	0	0	0	0	0	0	0	8,536	6,906	5,487	4,549	4,304	4,102	3,615	3,541	3,525	3,485	3,519	3,640	3,774	3,897	4,046	4,094	3,876	3,957	4,127	4,140	4,330	4,535	4,585
Property Plant And Equipment Net	22,943	23,408	24,198	24,012	24,344	25,758	26,536	32,424	32,676	33,209	33,757	5,104	5,238	5,444	5,669	5,955	6,145	6,354	6,594	6,846	7,042	7,195	7,105	7,056	7,371	7,437	7,558	7,781	8,046	8,245	8,294	8,445	8,668	8,875	9,138	9,335	9,465	9,513	9,601	9,611	9,824	0	0	0	0	0	0	0	0	0	0	0	8,536	6,906	5,487	4,549	4,304	4,102	3,615	3,541	3,525	3,485	3,519	3,640	3,774	3,897	4,046	4,094	3,876	3,957	4,127	4,140	4,330	4,535	4,585
Property Plant Equipment	0	23,408	0	17,676	24,344	25,758	26,536	32,424	32,676	33,209	33,757	5,104	8,765	5,444	9,592	9,352	9,721	10,108	10,524	6,846	7,042	7,195	7,105	7,056	7,371	7,437	7,558	7,781	8,046	8,245	8,294	8,445	8,668	8,875	9,138	9,335	9,465	9,513	9,601	9,611	9,824	9,967	10,099	10,335	10,654	11,098	11,402	11,644	10,692	10,987	11,333	11,618	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Earnings	73,781	70,494	67,612	65,621	63,482	58,026	53,852	49,764	46,374	42,746	41,201	42,650	41,959	40,158	39,102	37,828	37,235	36,611	35,522	39,126	38,647	37,729	36,332	35,263	37,778	37,082	35,723	34,185	32,759	31,581	30,493	29,289	28,258	27,310	26,716	26,192	25,978	25,542	25,362	25,119	24,747	19,106	18,390	19,563	19,406	15,871	15,078	14,827	14,493	13,751	12,727	17,828	10,271	9,874	9,478	9,001	7,948	7,338	6,921	6,335	5,499	4,586	3,856	3,249	2,516	2,001	1,652	1,309	731	367	187	-65	-326	-550	-690
Retained Earnings Total Equity	0	0	0	65,621	0	58,026	53,852	49,764	46,436	42,746	41,201	42,650	0	40,158	39,102	37,828	37,235	36,611	35,522	39,126	38,647	37,729	36,332	35,263	37,923	37,082	35,723	34,185	32,759	31,581	30,493	0	28,170	27,310	26,716	26,192	25,978	0	0	25,119	0	0	0	0	0	0	0	0	0	0	0	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	0	43,000	59,666	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	31,482	34,526	37,001	19,942	12,958	19,700	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	79,925	53,272	69,403	28,642	9,586	9,952	10,315	10,674	10,475	10,819	54,167	30,000	30,000	40,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Term Debt	4,340	43,000	59,666	5,968	6,173	409	6,925	7,295	24,130	12,582	12,582	0	0	0	0	0	0	0	0	0	0	0	0	31,482	34,526	37,001	19,942	12,958	19,700	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Term Investments	420,595	390,816	473,868	492,760	538,186	538,459	461,830	341,361	303,817	277,046	266,973	173,088	174,086	141,245	102,772	102,054	114,041	77,930	56,848	61,312	61,392	62,100	63,581	64,931	67,501	71,049	85,355	67,771	56,662	70,447	69,545	71,436	74,801	115,460	120,158	154,674	141,816	142,627	134,415	137,177	133,027	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Assets	1,646,017	1,562,579	1,584,088	1,571,654	1,622,853	1,733,756	1,744,940	1,935,207	1,972,525	1,911,825	1,847,122	918,403	848,410	820,958	798,873	717,099	703,279	660,790	633,773	635,800	644,800	626,796	654,657	625,473	643,886	610,328	614,525	638,808	605,030	569,539	545,678	555,842	567,624	548,773	530,432	543,919	537,053	508,011	506,892	533,976	512,994	483,941	486,740	491,019	507,606	474,627	515,777	489,516	464,066	464,673	451,520	461,047	319,176	297,579	299,068	302,514	292,067	278,786	285,185	285,328	281,837	283,021	274,079	277,004	235,147	229,130	225,576	213,745	207,515	198,921	186,736	170,609	159,883	154,020	146,804
Total Current Assets	34,569	446,750	517,358	48,039	53,598	659,229	190,097	690,168	264,559	1,584,527	1,528,915	739,515	668,373	673,540	690,397	608,327	581,661	575,710	569,518	566,812	575,517	556,626	583,071	552,562	568,063	530,866	520,611	562,229	539,270	489,770	466,736	474,833	14,200	12,152	12,228	13,388	12,834	14,505	14,630	12,228	12,871	0	0	0	0	0	0	0	0	0	0	0	28,520	19,895	17,768	19,609	16,944	15,437	17,221	17,991	15,303	15,519	11,592	9,945	12,873	13,545	10,077	11,633	13,933	13,610	11,294	8,853	8,942	9,616	7,605
Total Current Liabilities	791,459	3,282	3,667	5,968	6,173	1,183	6,925	4,166	24,130	3,913	4,905	4,231	5,048	5,980	5,580	5,672	5,961	5,790	5,911	6,076	1,525	1,977	1,649	2,328	1,727	1,208	1,016	2,173	1,625	1,542	1,478	1,951	1,616	1,290	1,337	1,178	1,707	1,238	1,177	1,495	8,281	0	0	0	0	0	0	0	0	0	0	0	836	792	1,117	1,309	947	953	1,065	762	625	457	860	748	440	335	491	406	349	349	369	316	229	199	449
Total Liab	1,492,977	1,426,852	1,441,649	1,430,134	1,489,437	1,607,782	1,610,724	1,789,188	1,810,600	1,751,915	1,688,520	838,391	765,812	740,501	719,781	640,808	627,172	585,236	559,430	563,275	574,058	557,672	586,782	558,652	578,781	545,479	551,367	577,782	545,976	510,261	487,617	499,263	511,239	492,371	475,242	482,336	476,421	447,870	447,070	475,064	455,038	430,218	433,759	436,895	453,667	424,248	466,207	440,208	415,145	416,532	404,465	415,101	283,766	264,591	266,709	270,921	261,789	249,354	256,389	257,415	254,778	257,544	249,438	252,901	211,629	206,314	202,621	191,286	185,619	178,043	166,142	150,290	139,777	134,349	128,574
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Stockholder Equity	153,040	135,727	142,439	141,520	133,416	125,974	134,216	146,019	161,925	159,910	158,602	80,012	82,598	80,457	79,092	76,291	76,107	75,554	74,343	72,525	70,742	69,124	67,875	66,821	65,105	64,849	63,158	61,026	59,054	59,278	58,061	56,579	56,385	56,402	55,190	61,583	60,632	60,141	59,822	58,912	57,956	53,723	52,981	54,124	53,939	50,379	49,570	49,308	48,921	48,141	47,055	45,946	35,410	32,988	32,359	31,593	30,278	29,432	28,796	27,913	27,059	25,477	24,641	24,103	23,518	22,816	22,955	22,459	21,896	20,878	20,594	20,319	20,106	19,671	18,230
Treasury Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

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	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31
Begin Period Cash Flow	40,136	508,840	34,695	19,085	18,874	18,277	38,500	43,527	54,107	40,072	71,778	57,044	44,139	27,289	53,050	20,976	18,620	27,487	24,756
Capital Expenditures	1,171	546	1,293	199	189	846	463	585	367	803	462	1,524	460	1,769	532	248	846	877	749
Cash And Cash Equivalents Changes	0	0	474,145	0	211	597	-20,223	-5,027	-10,580	14,035	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	0	-3,381	0	-74	0	75	-197	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	-11,746	-468,704	474,145	15,610	211	597	-20,223	-5,027	-10,580	14,035	-31,706	14,734	-16,480	16,850	-25,761	32,074	2,356	-8,867	2,731
Change In Working Capital	-811	-2,164	-1,031	-1,897	41	495	-268	-1,768	20	3,831	288	-2,451	-3,300	-364	-300	86	-560	-687	-487
Change Receivables	0	0	-2,605	0	545	910	-509	-1,310	194	10,330	0	0	0	0	0	0	0	0	0
Change To Account Receivables	52	-828	-2,605	-946	545	910	-509	-1,310	194	10,330	-3,748	-6,042	0	0	0	0	0	0	0
Change To Inventory	0	0	0	0	0	-575,517	-568,063	-539,270	0	0	0	0	0	0	0	0	0	0	0
Change To Liabilities	0	0	1,574	0	-504	-415	0	0	-174	-6,499	0	0	0	0	0	0	0	0	0
Change To Netincome	0	-4,258	1,464	1,216	1,202	1,291	1,259	39	512	94	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	-1,336	1,574	-951	-504	-415	241	-458	-174	-6,567	0	0	0	0	0	0	0	0	0
Depreciation	4,769	5,085	4,400	1,956	1,197	1,226	1,250	1,273	1,164	1,151	1,274	1,441	1,550	893	793	980	1,118	1,170	1,030
Dividends Paid	7,074	6,392	6,408	3,248	3,144	2,466	1,385	1,092	891	742	403	0	0	0	0	0	0	0	0
End Period Cash Flow	28,390	40,136	508,840	34,695	19,085	18,874	18,277	38,500	43,527	54,107	40,072	71,778	-16,480	44,139	27,289	53,050	20,976	18,620	27,487
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	12,733	22,139	11,772	9,054	9,157	10,911	8,332	4,707	5,173	6,910	8,164	4,036	4,510	1,545	3,070	2,975	1,916	746	699
Investments	47,192	-167,197	110,169	-58,123	-50,704	-3,495	-11,267	-42,874	-44,436	-21,154	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
Net Borrowings	0	0	-42,582	30,000	30,000	-34,092	14,392	-3,456	5,161	1,698	0	0	0	0	0	0	0	0	0
Net Income	19,263	23,438	10,071	7,978	6,689	8,470	6,554	5,748	3,121	1,898	6,896	5,481	2,340	2,666	3,086	1,940	1,374	770	743
Other Cashflows From Financing Activities	460	-317,800	205,300	139,553	48,780	-4,253	33,684	34,907	34,931	28,137	-2,664	-25,757	5,000	-350	-34,885	-32,422	-42,142	-37,746	-28,314
Other Cashflows From Investing Activities	0	-6,543	153,312	-1,377	-3,873	-100	-2,875	-728	985	1,146	0	0	329	0	0	0	0	0	0
Other Non Cash Items	-9,571	-4,223	-1,598	1,166	794	1,735	481	-66	832	842	354	1,200	3,600	370	198	442	830	370	162
Sale Purchase Of Stock	-69,249	0	30	0	-5	268	0	-1,260	-6,342	-262	0	0	0	0	0	0	0	0	0
Stock Based Compensation	727	687	521	264	534	65	10	28	30	52	106	105	0	0	0	0	0	0	0
Total Cash From Financing Activities	-5,883	-324,192	198,892	136,305	45,631	-6,719	32,299	32,555	27,698	27,133	-3,067	34,931	5,000	13,886	5,522	61,273	41,736	27,256	29,597
Total Cash From Operating Activities	13,904	22,685	13,065	9,253	9,346	11,757	8,795	5,292	5,540	7,713	8,626	5,560	4,970	3,314	3,602	3,223	2,762	1,623	1,448
Total Cashflows From Investing Activities	0	-167,197	262,188	-129,948	-54,766	-4,441	-61,317	-42,874	-43,818	-20,811	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	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31
Begin Period Cash Flow	18,390	29,939	35,281	40,136	145,085	215,667	480,608	508,840	425,530	313,979	94,496	34,695	11,672	34,887	31,574	19,085	27,855	24,794	14,604	18,874	8,762	26,568	6,901	18,277	10,298	9,596	55,664	38,500	42,028	25,114	33,643	43,527	17,464	16,529	22,184	54,107	48,417	52,019	76,847	40,072	32,886	42,499	42,327	71,778	0	0	0	0	0	0	0	59,632	31,567	44,447	44,139	39,666	11,893	31,242	27,289	44,792	53,131	51,799	53,050	24,864	21,552	36,120	20,976	26,945	22,407	19,161	18,620	14,072	16,014	19,049	27,487
Capital Expenditures	301	369	265	236	36	176	180	154	238	237	676	142	67	52	9	89	65	40	20	64	115	374	334	23	214	149	66	34	108	242	143	92	81	23	97	166	254	195	279	75	165	174	94	29	1,524	1,490	1,433	1,314	464	394	354	235	1,847	1,635	1,155	473	397	659	240	177	201	118	36	26	44	20	158	402	119	75	250	78	58	201	540
Cash And Cash Equivalents Changes	0	0	0	-4,855	0	-70,582	-264,941	-28,232	83,310	111,551	219,483	59,801	0	-23,215	3,313	12,489	-8,770	3,061	10,190	-4,270	10,112	-17,806	19,667	-11,376	0	702	-46,068	17,164	0	0	0	0	0	935	-5,655	-31,923	0	0	0	36,775	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	0	0	-1,517	0	-495	-483	-540	-5,855	3,278	-804	0	0	0	0	15	-498	0	0	424	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	10,000	-11,549	-5,342	-4,855	-104,949	-70,582	-264,941	-28,232	83,310	111,551	219,483	59,801	23,023	-23,215	3,313	12,489	-8,770	3,061	10,190	-4,270	10,112	-17,806	19,667	-11,376	7,979	702	-46,068	17,164	-3,528	16,914	-8,529	-9,884	26,063	935	-5,655	-31,923	5,690	-3,602	-24,828	36,775	7,186	-9,613	172	-29,451	0	0	0	0	0	0	0	0	28,065	-12,880	308	4,473	27,773	-19,349	3,953	-17,503	-8,339	1,332	-1,251	28,186	3,312	-14,568	15,144	-5,969	4,538	3,246	541	4,548	-1,942	-3,035	-8,438
Change In Working Capital	-80	-2,723	-188	2,180	-1,561	1,335	-5,063	3,125	-1,336	-564	286	583	-761	-998	-320	182	2,020	-1,995	-67	83	160	416	-1,276	1,195	-81	-118	-525	456	-1,530	268	-736	230	-360	146	-82	316	-412	252	-594	4,585	-3,690	576	-243	3,645	0	0	0	0	0	0	0	0	319	-787	1,254	-703	40	-559	858	-287	96	-762	653	-216	322	-587	567	-346	-20	-197	3	-21	68	-399	-335
Change Receivables	0	0	0	-200	0	1,415	-2,655	2,749	-1,028	362	-2,525	586	0	-687	-225	-205	2,466	-1,873	171	-219	613	89	-317	525	0	-307	704	-379	0	0	0	0	0	193	-241	845	0	0	0	11,371	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	0	-292	544	-200	-2,337	1,415	-2,655	2,749	-1,028	362	-2,525	586	171	-687	-225	-205	2,466	-1,873	171	-219	613	89	-317	525	-527	-307	704	-379	-1,612	204	-217	315	-603	193	-241	845	-956	191	-276	11,371	-11,008	413	-197	7,044	0	0	0	0	0	0	0	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 Inventory	0	0	0	0	0	0	0	0	1,336	-1,584,527	-1,528,915	-739,515	-668,373	-673,540	-690,397	-608,327	-581,661	-575,710	-569,518	-566,812	-575,517	-556,626	-583,071	-552,562	-568,063	-530,866	-520,611	-562,229	-539,270	-489,770	-466,736	-474,833	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Liabilities	0	0	0	2,380	0	-80	-2,408	376	-308	-926	2,811	-3	0	-311	-95	387	-446	-122	-238	302	-453	327	-959	670	0	189	-1,229	835	82	0	0	0	0	-47	159	-529	0	0	0	-6,786	0	0	0	0	0	0	0	0	0	0	0	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 Netincome	0	0	-3,095	-553	-1,724	9	-1,408	66	1,155	89	-528	364	255	94	-233	629	1,386	-211	-571	598	660	197	605	-171	949	145	14	-176	367	0	0	0	0	152	-128	196	0	0	0	-128	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	0	-732	-732	776	-80	-2,408	376	-308	-926	2,811	-3	-932	-311	-95	387	-446	-122	-238	302	-453	427	-1,260	670	446	189	-1,229	835	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1,104	1,241	1,151	1,273	878	1,386	1,398	1,423	1,331	1,201	1,375	493	487	497	414	558	318	296	289	294	294	309	310	313	305	295	315	335	326	323	317	307	288	286	294	296	291	283	289	288	292	304	330	348	0	0	0	0	0	0	0	0	226	233	250	266	218	205	204	323	161	152	157	231	239	244	266	247	258	296	317	312	301	288	269
Dividends Paid	1,770	1,772	1,770	1,762	1,601	1,598	1,597	1,596	1,591	1,593	1,596	1,628	815	815	810	808	808	806	767	763	763	762	483	458	385	383	309	308	308	307	236	241	202	245	243	201	204	202	202	134	134	135	134	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
End Period Cash Flow	28,390	18,390	29,939	35,281	40,136	145,085	215,667	480,608	508,840	425,530	313,979	94,496	34,695	11,672	34,887	31,574	19,085	27,855	24,794	14,604	18,874	8,762	26,568	6,901	18,277	10,298	9,596	55,664	38,500	42,028	25,114	33,643	43,527	17,464	16,529	22,184	54,107	48,417	52,019	76,847	40,072	32,886	42,499	42,327	71,778	0	0	0	0	0	0	0	59,632	31,567	44,447	44,139	39,666	11,893	31,242	27,289	44,792	53,131	51,799	53,050	24,864	21,552	36,120	20,976	26,945	22,407	19,161	18,620	14,072	16,014	19,049
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	2,906	211	3,254	6,362	5,198	7,609	100	9,232	5,728	2,396	604	3,044	2,530	1,672	2,050	2,802	4,683	14	1,811	2,649	2,747	2,777	1,204	4,183	2,113	2,031	1,773	2,415	649	1,668	678	1,712	1,391	1,579	950	1,253	927	786	-143	5,340	589	1,668	999	4,908	4,036	3,079	1,426	322	4,507	2,141	2,524	1,895	-905	-1,558	846	37	521	-396	1,383	339	1,091	159	1,481	653	1,114	96	1,112	247	683	532	454	574	625	-82	-371
Investments	-57,198	4,623	-18,846	50,928	9,761	-74,381	-94,006	-8,528	24,196	41,457	212,144	-20,918	-32,756	-53,141	-81,735	-9,325	-45,387	-25,530	12,493	7,720	-6,904	11,060	-11,553	3,902	2,789	7,737	-18,839	-13,063	-39,509	0	0	0	0	-20,305	28,702	-39,424	0	0	0	4,580	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	60,919	60,919	60,919	0	0	0	0	-42,559	-23	-23	-10,000	40,000	40,000	40,000	40,000	0	0	0	-17,193	-31,194	16,905	-2,610	-2,909	17,059	6,984	-6,742	6,160	0	0	0	0	3,328	-3,406	1,519	0	0	0	-2,849	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	3,168	4,653	5,651	5,791	7,057	5,772	5,685	4,924	5,281	3,138	147	1,505	2,616	1,870	2,088	1,404	1,431	1,897	2,115	1,246	1,682	2,160	1,832	2,796	1,154	1,745	1,920	1,735	1,487	1,396	1,510	1,355	1,100	839	767	415	565	382	445	506	4,617	925	816	538	3,776	793	411	501	1,033	734	285	289	397	396	477	1,053	610	417	586	836	913	730	607	733	515	349	343	578	364	188	244	261	224	140	145
Other Cashflows From Financing Activities	38,799	22,189	11,755	-61,345	-118,343	-2,241	-175,437	-21,803	59,015	65,219	7,655	73,411	26,243	20,320	79,065	13,925	41,765	25,922	-3,680	-15,232	16,838	-29,388	28,883	-20,586	32,783	-5,595	-25,035	31,531	35,632	22,718	-11,154	-12,289	18,541	17,176	-7,253	6,467	28,073	815	-27,563	26,812	17,503	-3,704	-3,090	-13,373	33,554	8,480	51,368	24,527	4,173	3,645	0	4,388	21,080	-1,571	-3,764	8,994	12,582	-6,689	-1,001	2,618	-2,194	8,529	-3,431	40,964	5,210	3,849	11,250	5,610	8,406	11,921	15,799	10,426	5,398	7,155	4,277
Other Cashflows From Investing Activities	0	0	-1,688	962	-1	5	5,999	-5,537	-2,339	34	147,386	5,892	426	8,749	4,743	5,895	-9,023	3,459	335	1,356	-1,806	-1,493	1,616	1,583	-1,275	-3,088	-3,658	-3,411	8	0	0	0	985	2,730	-22,021	0	1,135	1,032	295	177	0	0	0	0	0	1,544	323	0	329	329	329	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 Non Cash Items	-700	-1,947	-3,415	-2,799	-1,166	-934	-1,903	-220	-129	-201	-199	485	389	-111	-109	-107	852	-111	-466	-110	936	-112	-112	-109	179	-103	-104	-105	389	-111	-111	-109	63	-112	-110	-108	724	-112	-109	80	-195	-114	-111	-111	0	0	0	0	0	0	0	0	0	235	20	-106	50	200	-25	-356	122	157	100	-69	82	110	94	170	200	320	140	100	90	90	90
Sale Purchase Of Stock	0	0	0	18	-1	24	0	0	0	0	15	15	0	0	0	0	0	0	0	102	0	50	74	144	144	485	223	273	273	0	0	-1,260	-534	0	-5,790	-18	-262	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Stock Based Compensation	188	198	188	153	164	226	163	134	142	88	196	95	80	72	73	39	36	27	23	448	24	24	16	1	2	2	3	3	8	6	7	7	8	7	6	9	11	11	11	19	22	26	30	28	0	0	0	0	0	0	0	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 Cash From Financing Activities	63,991	-16,752	9,985	-63,107	-119,944	-3,815	-177,034	-23,399	57,424	63,626	6,059	71,783	25,428	19,505	78,255	13,117	40,957	25,116	-4,447	-15,995	16,075	-30,150	28,400	-21,044	32,398	-5,978	-25,344	31,223	35,324	22,411	-11,390	-13,790	17,805	16,931	-13,286	6,248	27,607	613	-27,765	26,678	17,369	-3,839	-3,224	-13,373	34,931	8,939	51,029	25,013	4,995	5,828	0	4,533	21,080	-1,571	-3,764	8,994	12,582	-6,689	-1,001	2,618	-2,194	8,529	-3,431	40,964	5,210	3,849	11,250	5,610	8,406	11,921	15,799	10,426	5,398	7,155	4,277
Total Cash From Operating Activities	3,207	580	3,519	6,598	5,234	7,785	280	9,386	5,966	2,633	1,280	3,186	2,597	1,724	2,041	2,891	4,748	54	1,831	2,713	2,862	3,151	1,538	4,206	2,327	2,180	1,839	2,449	757	1,910	821	1,804	1,472	1,602	1,047	1,419	1,181	981	136	5,415	754	1,842	1,093	4,937	5,560	4,569	2,859	1,636	4,971	2,535	2,878	2,130	942	77	2,001	510	918	263	1,623	516	1,292	277	1,517	679	1,158	116	1,270	649	802	607	704	652	683	119	169
Total Cashflows From Investing Activities	0	0	-18,846	51,654	9,761	-74,552	-88,187	-14,219	19,920	45,292	212,144	-15,168	-5,002	-44,444	-76,983	-3,519	-54,475	-22,109	12,806	9,012	-8,825	9,193	-10,271	5,462	-26,746	4,500	-22,563	-16,508	-39,609	0	4,142	2,102	0	-17,598	6,584	-39,590	0	2,287	7,483	4,682	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

Income Statement

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31
Cost Of Revenue	460	0	0	0	0	207	283	305	434	349	1,157	1,202	1,770	0	0	0	0	0	0
Depreciation And Amortization	4,769	1,684	1,389	1,956	1,197	1,226	1,250	1,273	1,164	1,151	1,274	1,441	1,550	893	793	980	1,118	1,170	1,030
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	-3,276	31,730	11,917	10,043	8,216	13,329	12,191	9,287	5,292	3,282	11,105	9,373	5,040	8,651	7,480	4,290	3,477	2,349	3,509
Ebitda	1,493	33,414	13,306	11,999	9,413	14,555	13,441	10,560	6,456	4,433	12,379	10,814	6,590	9,544	8,273	5,270	4,595	3,519	4,539
Effect Of Accounting Charges	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
Gross Profit	78,631	64,404	55,453	30,444	27,475	28,219	26,974	23,452	20,878	19,702	32,303	27,663	22,960	16,211	13,813	11,543	9,883	7,844	6,052
Income Before Tax	23,273	28,546	11,917	10,043	8,216	10,539	10,957	8,350	4,451	2,354	10,108	8,092	3,270	4,234	4,648	2,841	2,012	765	0
Income Tax Expense	4,010	5,108	1,908	2,065	1,527	2,069	4,403	2,602	1,242	456	3,212	2,611	930	1,568	1,562	901	638	-5	2,766
Interest Expense	21,021	3,184	3,284	3,351	4,273	2,790	1,234	937	974	928	997	1,281	1,770	4,417	2,832	1,449	1,465	1,584	2,766
Interest Income	68,192	56,451	48,102	27,126	26,087	25,541	22,515	19,122	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	19,263	23,438	10,071	7,978	6,689	8,470	6,554	5,748	3,209	1,898	6,896	5,481	2,340	2,666	3,086	1,940	1,374	770	743
Net Income Applicable To Common Shares	0	23,438	10,009	7,978	6,689	8,470	6,554	5,748	3,121	1,898	6,896	5,481	2,341	0	0	0	0	0	0
Net Income From Continuing Ops	23,152	23,438	10,009	7,978	6,689	8,470	6,554	5,748	3,121	1,898	0	0	0	0	0	0	0	0	0
Net Interest Income	53,600	53,267	44,818	23,775	21,814	22,751	21,281	18,185	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
Non Recurring	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Operating Income	-3,276	31,730	11,917	10,043	8,216	13,329	12,191	9,287	5,292	3,282	11,105	9,373	3,270	8,651	7,480	4,290	3,477	2,349	3,509
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	55,818	2,581	43,536	20,401	19,259	14,890	283	305	434	349	21,198	18,290	21,450	7,560	6,333	7,253	6,406	5,495	2,543
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	4,543	1,684	1,389	1,956	1,197	1,226	1,250	0	0	0	0	0	0	0	0	0	0	0	0
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	1,098	1,224	922	409	539	715	472	389	505	774	0	0	0	0	400	344	267	0	0
Selling General Administrative	16,610	17,771	16,987	9,466	9,249	8,036	8,281	7,814	8,869	9,305	13,746	10,962	17,910	6,677	4,977	4,431	3,423	2,998	2,475
Tax Provision	4,984	5,108	1,908	2,065	1,527	2,069	4,403	2,602	0	0	0	0	0	0	0	0	0	0	0
Total Operating Expenses	12,164	2,581	-43,536	-20,401	-19,259	-14,890	-14,783	-14,165	-15,586	-16,420	-21,198	-18,290	19,680	-7,560	-6,333	-7,253	-6,406	-5,495	-2,543
Total Other Income Expense Net	23,273	-3,184	11,917	10,043	8,216	-2,790	-1,234	-937	-841	-928	-997	-1,281	0	-4,417	-2,832	-1,449	-1,465	-1,584	0
Total Revenue	79,091	64,404	55,453	30,444	27,475	28,426	27,257	23,757	21,312	20,051	32,303	27,663	22,960	16,211	13,813	11,543	9,883	7,844	6,052

	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	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31
Cost Of Revenue	0	0	0	0	0	0	0	0	0	212	218	0	-186	115	107	145	190	0	0	0	207	0	0	348	283	493	429	206	305	338	0	119	434	342	242	553	349	235	111	226	133	239	298	487	470	0	407	479	919	448	477	464	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation And Amortization	355	368	379	391	403	415	427	439	544	417	1,375	493	487	497	414	558	318	296	289	294	294	309	310	313	305	295	315	335	326	323	317	307	288	286	294	296	291	283	289	288	292	304	330	348	0	0	0	0	0	0	0	0	226	233	250	266	218	205	204	323	161	152	157	231	239	244	266	247	258	296	317	312	301	288	269
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	0	5,477	11,552	9,642	9,552	8,675	8,557	7,872	4,750	5,305	1,199	2,574	4,077	3,037	3,355	2,925	2,974	3,465	3,611	2,439	2,918	3,535	2,943	3,933	3,346	2,881	3,140	2,824	2,395	2,259	2,433	2,200	1,812	1,420	1,300	760	990	711	794	787	7,222	1,529	1,378	976	0	0	0	0	0	0	0	0	2,108	1,876	1,914	2,789	2,211	1,796	1,855	2,157	2,148	1,734	1,441	1,511	1,128	843	808	1,178	879	676	744	701	652	504	492
Ebitda	355	5,845	11,931	10,033	9,955	9,090	8,984	8,311	5,294	5,722	2,574	3,067	4,564	3,534	3,769	3,483	3,292	3,761	3,900	2,733	3,212	3,844	3,253	4,246	3,651	3,176	3,455	3,159	2,721	2,582	2,750	2,507	2,100	1,706	1,594	1,056	1,281	994	1,083	1,075	7,514	1,833	1,708	1,324	0	0	0	0	0	0	0	0	2,334	2,109	2,164	3,055	2,429	2,001	2,059	2,480	2,309	1,886	1,598	1,742	1,367	1,087	1,074	1,425	1,137	972	1,061	1,013	953	792	761
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Profit	20,210	13,744	15,748	16,370	17,908	91	16,107	2,400	15,387	16,770	15,853	7,013	8,547	7,357	7,274	6,899	6,696	6,801	7,161	6,627	6,749	7,061	6,999	7,410	7,376	6,641	6,654	6,303	6,184	5,950	5,680	5,638	5,288	5,398	5,233	4,959	5,523	4,732	4,721	4,726	17,399	5,107	5,065	4,732	0	0	0	0	0	0	0	0	3,972	4,260	3,943	5,195	3,866	3,654	3,496	3,633	3,724	3,365	3,091	3,428	2,899	2,667	2,549	2,784	2,486	2,367	2,246	2,102	2,071	1,916	1,755
Income Before Tax	3,797	5,477	6,923	7,076	8,660	7,035	6,882	5,969	5,926	3,891	219	1,881	3,395	2,313	2,599	1,736	1,784	2,360	2,540	1,532	2,092	2,687	2,271	3,489	3,027	2,556	2,826	2,548	2,168	2,025	2,196	1,961	1,703	1,166	1,058	524	752	476	565	561	6,984	1,290	1,125	709	5,639	1,144	579	730	1,349	1,083	416	425	663	664	776	1,651	970	733	880	1,261	1,376	1,100	911	1,082	760	505	494	852	535	273	352	297	237	120	111
Income Tax Expense	629	824	1,272	1,285	1,603	1,263	1,197	1,045	707	753	72	376	779	443	511	332	353	463	425	286	410	527	439	693	1,873	811	906	813	681	629	686	606	515	327	291	109	187	94	120	55	2,367	365	309	171	1,863	351	168	229	316	349	131	136	266	268	299	598	360	316	294	425	463	370	304	349	245	156	151	274	171	85	108	36	13	-20	-34
Interest Expense	750	6,114	4,629	2,957	892	669	704	919	981	630	980	693	682	724	756	1,189	1,190	1,105	1,071	907	826	848	672	444	319	325	314	276	227	234	237	239	242	254	242	236	238	235	229	226	238	239	253	267	0	0	0	0	0	0	0	0	1,445	1,212	1,138	1,138	1,241	1,063	975	896	772	634	530	429	368	338	314	326	344	403	392	404	415	384	381
Interest Income	18,074	17,214	18,228	16,303	16,188	14,880	13,101	12,282	13,291	14,079	14,099	6,633	7,350	6,749	6,487	6,540	6,587	6,550	6,501	6,449	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	3,168	4,653	5,651	5,791	7,057	5,772	5,685	4,924	5,219	3,138	147	1,505	2,616	1,870	2,088	1,404	1,431	1,897	2,115	1,246	1,682	2,160	1,832	2,796	1,154	1,745	1,920	1,735	1,487	1,396	1,510	1,355	1,188	839	767	415	565	382	445	506	4,617	925	816	538	3,776	793	411	501	1,033	734	285	289	397	396	477	1,053	610	417	586	836	913	730	607	733	515	349	343	578	364	188	244	261	224	140	145
Net Income Applicable To Common Shares	0	4,653	4,653	5,791	7,057	5,772	5,685	4,924	5,219	3,138	147	1,505	2,616	1,870	2,088	1,404	1,431	1,897	2,115	1,246	1,682	2,160	1,832	2,796	1,154	1,745	1,920	1,735	1,487	1,396	1,510	1,355	1,100	839	767	415	565	382	445	506	4,617	925	816	538	3,776	793	411	501	1,033	734	285	289	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income From Continuing Ops	3,168	4,653	5,651	5,791	7,057	5,772	5,685	4,924	5,219	3,138	147	1,505	2,616	1,870	2,088	1,404	1,431	1,897	2,115	1,246	1,682	2,160	1,832	2,796	1,154	1,745	1,920	1,735	1,487	1,396	1,510	0	0	839	767	415	0	0	0	506	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income	10,753	11,100	13,599	13,346	15,296	14,211	12,397	11,363	12,310	13,449	13,119	5,940	6,668	6,025	5,731	5,351	5,397	5,445	5,430	5,542	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Operating Income Net Other	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Recurring	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	0	5,477	11,552	9,642	9,552	8,675	8,557	7,872	6,907	5,305	1,199	2,574	-29,925	3,037	3,355	2,925	-28,511	3,465	3,611	2,439	-27,492	3,535	2,943	3,933	-25,368	2,881	3,140	2,824	-22,972	2,259	2,433	2,200	-22,283	1,420	1,300	760	-21,128	711	794	787	-20,917	1,529	1,378	976	6,381	2,590	1,751	1,597	1,426	1,736	1,423	1,311	2,108	1,876	1,914	2,789	2,211	1,796	1,855	2,157	2,148	1,734	1,441	1,511	1,128	843	808	1,178	879	676	744	701	652	504	492
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	16,413	8,267	4,196	567	1,918	657	663	604	2,039	735	960	4,439	8,209	115	107	145	8,112	3,336	3,550	4,188	6,229	3,526	4,056	3,477	6,053	3,760	3,514	3,479	6,009	3,691	3,247	3,438	7,127	3,978	3,933	4,199	7,298	4,021	3,927	3,939	6,013	3,578	3,687	3,756	0	0	0	0	0	0	0	0	1,864	2,384	2,029	2,406	1,655	1,858	1,641	1,476	1,576	1,631	1,650	1,917	1,771	1,824	1,741	1,606	1,607	1,691	1,502	1,401	1,419	1,412	1,263
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	1,104	368	379	391	403	415	427	439	544	417	1,375	493	487	497	414	558	318	296	289	294	294	309	310	313	305	295	315	335	326	323	317	307	288	286	294	296	291	283	289	288	292	304	330	348	0	0	0	0	0	0	0	0	226	233	250	266	218	205	204	323	161	152	157	231	239	244	266	247	258	296	317	312	301	288	269
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	186	262	275	375	351	347	259	267	216	337	232	75	75	55	140	139	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	172	132	100	308	113	105	90	117	114	89	80	95	96	0	0	267	0	0	0	0	0	0	0
Selling General Administrative	4,021	4,156	4,282	4,151	4,281	4,322	4,211	4,957	4,688	4,911	4,741	2,402	2,462	2,322	2,258	2,424	2,449	2,268	2,321	2,346	2,014	2,049	1,982	1,991	2,511	1,998	1,871	1,901	2,110	1,939	1,847	1,918	2,176	2,162	2,215	2,316	2,356	2,357	2,356	2,236	7,733	2,004	1,982	2,027	5,060	2,948	2,947	3,027	3,125	3,172	3,230	3,311	1,812	1,904	1,818	2,081	1,566	1,550	1,480	1,348	1,291	1,151	1,187	1,230	1,062	1,125	1,014	875	859	831	858	742	786	761	709
Tax Provision	629	824	1,272	1,285	1,603	1,263	1,197	1,045	707	753	72	376	779	443	511	332	353	463	425	286	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Operating Expenses	3,065	-8,267	-4,196	567	1,918	657	663	604	2,039	523	742	-4,439	8,395	-4,320	-3,919	-3,974	7,922	-3,336	-3,550	-4,188	6,022	-3,526	-4,056	-3,477	5,770	-3,760	-3,514	-3,479	5,704	-3,691	-3,247	-3,438	6,693	-3,978	-3,933	-4,199	6,949	-4,021	-3,927	-3,939	6,013	-3,578	-3,687	-3,756	0	0	0	0	0	0	0	0	-1,864	-2,384	-2,029	-2,406	-1,655	-1,858	-1,641	-1,476	-1,576	-1,631	-1,650	-1,917	-1,771	-1,824	-1,741	-1,606	-1,607	-1,691	-1,502	-1,401	-1,419	-1,412	-1,263
Total Other Income Expense Net	3,797	5,477	-4,629	-2,566	-892	-1,640	-1,675	-1,903	-981	-1,414	-980	-693	33,320	-724	-756	-1,189	30,295	-1,105	-1,071	-907	29,584	-848	-672	-444	28,395	-325	-314	-276	25,140	-234	-237	-239	23,853	-254	-242	-236	21,880	-235	-229	-226	27,901	-239	-253	-267	0	0	0	0	0	0	0	0	-1,445	-1,212	-1,138	-1,138	-1,241	-1,063	-975	-896	-772	-634	-530	-429	-368	-338	-314	-326	-344	-403	-392	-404	-415	-384	-381
Total Revenue	20,210	13,744	15,748	16,370	17,908	91	16,107	2,400	15,387	16,982	16,071	7,013	8,547	7,472	7,381	7,044	6,886	6,801	7,161	6,627	6,956	7,061	6,999	7,410	7,659	6,641	6,654	6,303	6,489	5,950	5,680	5,638	5,722	5,398	5,233	4,959	5,872	4,732	4,721	4,726	17,399	5,107	5,065	4,732	0	0	0	0	0	0	0	0	3,972	4,260	3,943	5,195	3,866	3,654	3,496	3,633	3,724	3,365	3,091	3,428	2,899	2,667	2,549	2,784	2,486	2,367	2,246	2,102	2,071	1,916	1,755

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

Gross Profit (+$)
totalRevenue	79,091
Cost of Revenue	-460
Gross Profit	78,631	78,631

Operating Income (+$)
Gross Profit	78,631
Operating Expense	-12,164
Operating Income	-3,276	66,467

Operating Expense (+$)
Research Development	0
Selling General Administrative	16,610
Selling And Marketing Expenses	1,098
Operating Expense	12,164	17,708

Net Interest Income (+$)
Interest Income	68,192
Interest Expense	-21,021
Other Finance Cost	-6,429
Net Interest Income	53,600

Pretax Income (+$)
Operating Income	-3,276
Net Interest Income	53,600
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	23,273	-26,549 EBIT - interestExpense = -24,297 23,273 40,284
Interest Expense	21,021
Earnings Before Interest and Taxes (EBIT)	-3,276	44,294
Earnings Before Interest and Taxes (EBITDA)	1,493

After tax Income (+$)
Income Before Tax	23,273
Tax Provision	-4,984
Net Income From Continuing Ops	23,152	18,289
Net Income	19,263
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	55,818
Total Other Income/Expenses Net	23,273	-53,600

Technical Analysis of Virginia National Bankshares Corp
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 Virginia National Bankshares Corp. The general trend of Virginia National Bankshares Corp is BEARISH with 85.7% 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 Virginia National Bankshares Corp'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 (-85.7%)		Bearish trend (85.7%)
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 Virginia National Bankshares Corp.

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

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

The bullish price targets are: 24.47 < 25.30 < 27.19.

The bearish price targets are: .

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Virginia National Bankshares Corp 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 Virginia National Bankshares Corp. The current mas is .

The long score for the Moving Averages is 1/14.
The longshort score for the Moving Averages is -12/(-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 down: The MA 200 is trending down. -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.

Virginia National Bankshares Corp Daily Moving Averages Chart

2.2 Moving Average Convergence/Divergence (MACD)

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

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

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of Virginia National Bankshares Corp. The current macd is -1.43845875.

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

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

Virginia National Bankshares Corp 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 Virginia National Bankshares Corp. The current adx is 29.45.

The long score for the Directional Movement Index (DMI) is 0/7.
The longshort score for the Directional Movement Index (DMI) is -3/(-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 Virginia National Bankshares Corp shares, leading to potential downward momentum in its price. -1
PLUS_ID < MINUS_DI && ADX > 25 && ADX trending down: The ADX is above 25 and indicates a strong bearish trend. The ADX is declining, the bearish trend is weakening. Could be a potential reversal to the upside. -2

Virginia National Bankshares Corp 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 Virginia National Bankshares Corp. The current sar is 27.49.

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

Virginia National Bankshares Corp Daily Parabolic SAR Chart

3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

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

Score

Let's take a look at the Relative Strength Index (RSI) of Virginia National Bankshares Corp. The current rsi is 22.22. The current phase is Oversold in bear market.

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

Oversold in bear market: Short-term excessive selling, potential for relief rally. Be cautious, consider taking short-term long positions. +1
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.

Virginia National Bankshares Corp 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 Virginia National Bankshares Corp. The current phase is Oversold in bear market.

The long score for the Stochastic Oscillator is 3/6.
The longshort score for the Stochastic Oscillator is 0/(-6 +6).

STOCH < 50: The STOCH %K is below 50. There are more sellers than buyers. -1
STOCH < 20: The STOCH %K is below 20 and oversold. -2
STOCH %K line > STOCH %D line: The STOCH %K line is 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 Virginia National Bankshares Corp price going up in the near term. +2
Trending up: The STOCH %K is trending up. +1

Virginia National Bankshares Corp 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 Virginia National Bankshares Corp. The current cci is -114.46062499.

The long score for the Commodity Channel Index (CCI) is 0/1.
The longshort score for the Commodity Channel Index (CCI) is -1/(-1 +1).

CCI < -100: The CCI is below -100, it indicates that the price is significantly below its average, suggesting a potential oversold condition. -1

Virginia National Bankshares Corp 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 Virginia National Bankshares Corp. The current cmo is -69.18456095.

The long score for the Chande Momentum Oscillator (CMO) is 0/1.
The longshort score for the Chande Momentum Oscillator (CMO) is -1/(-1 +1).

CMO < 0: The CMO is below 0, the momentum of the price is negative, indicating a potential downtrend in the price. -1

Virginia National Bankshares Corp 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 Virginia National Bankshares Corp. The current willr is -93.6329588.

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

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

Virginia National Bankshares Corp Daily Williams %R Chart

4. Volatility Indicators

4.1 Bollinger Bands

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

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

Score

Let's take a look at the Bollinger Bands of Virginia National Bankshares Corp.

Virginia National Bankshares Corp Daily Bollinger Bands Chart

4.2 Average True Range (ATR)

Measures market volatility

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

Score

Let's take a look at the Average True Range (ATR) of Virginia National Bankshares Corp. The current atr is 1.01696605.

Virginia National Bankshares Corp 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 Virginia National Bankshares Corp. The current obv is -623,733.

Virginia National Bankshares Corp 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 Virginia National Bankshares Corp. The current mfi is 19.27.

The long score for the Money Flow Index (MFI) is 0/2.
The longshort score for the Money Flow Index (MFI) is -2/(-2 +2).

MFI < 50: -1
MFI < 20: -1

Virginia National Bankshares Corp Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for Virginia National Bankshares Corp.

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
2023-11-29	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-01	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-05	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-06	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2023-12-07	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-11	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2023-12-12	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
2023-12-13	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
	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).
2023-12-15	STOCH	LONG EXIT		The %K line crosses below the %D line.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2023-12-18	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2023-12-19	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-21	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-22	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
2023-12-26	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-27	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2023-12-29	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
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-01-02	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-01-03	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
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-01-08	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.
	MFI	SHORT ENTRY	LONG CLOSE	20 crossover to downside
2024-01-10	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-11	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-12	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-01-18	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	MFI	LONG ENTRY	SHORT CLOSE	20 crossover to upside
2024-01-22	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-01-23	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).
2024-01-24	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-25	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal 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
2024-01-30	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-31	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-02	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-06	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-09	RSI	LONG ENTRY	SHORT CLOSE	30 crossover to upside
2024-02-13	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-14	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-15	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-20	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).
2024-02-22	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-23	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-28	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-02-29	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-04	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-03-06	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-08	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-03-11	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-14	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
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-03-15	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-19	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-20	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-21	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	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).
2024-03-22	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
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-03-27	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-03-28	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-04-01	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-04-02	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
2024-04-03	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-05	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-09	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-04-10	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-04-11	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	MFI	SHORT ENTRY	LONG CLOSE	20 crossover to downside
2024-04-15	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-17	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-18	MFI	LONG ENTRY	SHORT CLOSE	20 crossover to upside
2024-04-19	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-22	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	MFI	SHORT ENTRY	LONG CLOSE	20 crossover to downside

6.3. Candlestick Patterns

Virginia National Bankshares Corp Daily Candlestick Chart

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of Virginia National Bankshares Corp based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	22.222
Ma 20	Greater than	Ma 50	27.494
Ma 50	Greater than	Ma 100	28.907
Ma 100	Greater than	Ma 200	32.038
Open	Greater than	Close	24.260
Total			1/5 (20.0%)

Create your own Symbol Scanner

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Quick analysis of Virginia National Bankshares Corp (30 sec.)

What can you expect buying and holding a share of Virginia National Bankshares Corp? (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 Virginia National Bankshares Corp (5 min.)

$24.40

$28.37

$17.27 - $32.20

$45.64 - $60.56

2. Growth of Virginia National Bankshares Corp (5 min.)

Is Virginia National Bankshares Corp growing?

How much money is Virginia National Bankshares Corp making?

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

3. Financial Health of Virginia National Bankshares Corp (5 min.)

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

Industry Rankings (Banks - Regional)

What can you expect buying and holding a share of Virginia National Bankshares Corp? (5 min.)

What can you expect buying and holding a share of Virginia National Bankshares Corp?

Speculation

Investing

How much money are you going to get?

When do you get the money?

How sure are you?

Linear %

Fundamentals of Virginia National Bankshares Corp

About Virginia National Bankshares Corp

Financial Health

Valuation

1.1. Profitability of Virginia National Bankshares Corp.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

Compared to industry (Banks - Regional)

1.1.2. Return on Assets

Trends

Compared to industry (Banks - Regional)

1.1.3. Return on Equity

Trends

Compared to industry (Banks - Regional)

1.2. Operating Efficiency of Virginia National Bankshares Corp.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

1.2.2. Operating Ratio

Trends

1.3. Liquidity of Virginia National Bankshares Corp.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Banks - Regional)

1.3.2. Quick Ratio

Trends

1.4. Solvency of Virginia National Bankshares Corp.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

Compared to industry (Banks - Regional)

1.4.2. Debt to Equity Ratio

Trends

Compared to industry (Banks - Regional)

2. Market Valuation of Virginia National Bankshares Corp

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Banks - Regional)

Virginia National Bankshares Corp
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