Westlake Chemical Corporation
Buy, Hold or Sell?

Let's analyse Westlake together

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

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

Get notifications about Westlake Chemical Corporation

I send you an email if I find something interesting about Westlake Chemical Corporation.

Quick analysis of Westlake (30 sec.)

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

How much money do you get?

$1.72

When do you have the money?

1 year

How often do you get paid?

100.0%

What is your share worth?

Current worth

$83.76

Expected worth in 1 year

$86.09

How sure are you?

97.5%

+ What do you gain per year?

Total Gains per Share

$4.05

Return On Investment

2.6%

For what price can you sell your share?

Current Price per Share

$156.27

Expected price per share

$132.06 - $162.64

How sure are you?

50%

1. Valuation of Westlake (5 min.)

Live pricePrice per Share (EOD)

$156.27

Book Value per Share

$83.76

Intrinsic Value Per Share

$50.84 - $153.98

Total Value Per Share

$134.59 - $237.74

My calculation of the intrinsic value of Westlake 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: ($1.87) 3Y: ($3.45) TTM: ($2.53)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($0.05) 3Y: ($-0.01) TTM: ($-0.48)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$7.11	$14.04	$7.31 - $14.62
2	$13.68	$28.47	$7.16 - $15.45
3	$19.74	$43.25	$7.01 - $16.29
4	$25.34	$58.35	$6.85 - $17.12
5	$30.50	$73.73	$6.70 - $17.95
6	$35.26	$89.38	$6.55 - $18.79
7	$39.65	$105.25	$6.40 - $19.62
8	$43.69	$121.32	$6.24 - $20.45
9	$47.41	$137.58	$6.09 - $21.29
10	$50.84	$153.98	$5.94 - $22.12

2. Growth of Westlake (5 min.)

Is Westlake growing?

	Current year	Previous year	Grow	Grow %
How rich?	$10.7b	$9.9b	$1b	9.3%

How much money is Westlake making?

	Current year	Previous year	Grow	Grow %
Making money	$119.7m	$560.2m	-$440.5m	-367.8%
Net Profit Margin	3.1%	13.7%	-	-

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

Quarterly Yearly

3. Financial Health of Westlake (5 min.)

4. Comparing to competitors in the Specialty Chemicals industry (5 min.)

Industry Rankings (Specialty Chemicals)

Richest
#14 / 560

Most Revenue
#27 / 560

Most Profit
#43 / 560

Most Efficient
#301 / 560

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

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

What can you expect buying and holding a share of Westlake?

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

Speculation

The Price per Share of Westlake is $156.27. 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 Westlake.
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 Westlake, 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 $83.76. Based on the TTM, the Book Value Change Per Share is $0.58 per quarter. Based on the YOY, the Book Value Change Per Share is $3.79 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 $0.43 per quarter.

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

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	-3.87	-2.5%	0.93	0.6%	4.35	2.8%	2.13	1.4%	1.83	1.2%
Usd Book Value Change Per Share	-4.00	-2.6%	0.58	0.4%	3.79	2.4%	1.84	1.2%	1.64	1.1%
Usd Dividend Per Share	0.51	0.3%	0.43	0.3%	0.33	0.2%	0.31	0.2%	0.25	0.2%
Usd Total Gains Per Share	-3.50	-2.2%	1.01	0.6%	4.12	2.6%	2.15	1.4%	1.89	1.2%
Usd Price Per Share	139.96	-	125.02	-	102.71	-	89.39	-	80.52	-
Price to Earnings Ratio	-9.05	-	6.87	-	7.53	-	18.05	-	16.01	-
Price-to-Total Gains Ratio	-40.01	-	27.22	-	28.46	-	59.52	-	60.88	-
Price to Book Ratio	1.67	-	1.46	-	1.34	-	1.38	-	1.88	-
Price-to-Total Gains Ratio	-40.01	-	27.22	-	28.46	-	59.52	-	60.88	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	156.27
Number of shares	6

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.43	0.31
Usd Book Value Change Per Share	0.58	1.84
Usd Total Gains Per Share	1.01	2.15
Gains per Quarter (6 shares)	6.07	12.92
Gains per Year (6 shares)	24.28	51.69

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	10	14	14	7	44	42
2	21	28	38	15	88	94
3	31	42	62	22	133	146
4	41	56	86	30	177	198
5	52	70	110	37	221	250
6	62	84	134	45	265	302
7	72	98	158	52	309	354
8	83	112	182	60	354	406
9	93	126	206	67	398	458
10	103	140	230	75	442	510

How sure are you?

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

Linear %

	Trailing 12 Months				3Y				5 Year				10 Year				ALLTIME
				%				%				%				%				%
Earnings Per Share	3.0	1.0	0.0	75.0%	11.0	1.0	0.0	91.7%	19.0	1.0	0.0	95.0%	39.0	1.0	0.0	97.5%	79.0	4.0	0.0	95.2%
Book Value Change Per Share	3.0	1.0	0.0	75.0%	11.0	1.0	0.0	91.7%	18.0	2.0	0.0	90.0%	38.0	2.0	0.0	95.0%	75.0	7.0	1.0	90.4%
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%	77.0	0.0	6.0	92.8%
Total Gains per Share	3.0	1.0	0.0	75.0%	11.0	1.0	0.0	91.7%	19.0	1.0	0.0	95.0%	39.0	1.0	0.0	97.5%	78.0	4.0	1.0	94.0%

Fundamentals of Westlake

About Westlake Chemical Corporation

https://www.westlake.com
Specialty Chemicals
15520
2801 Post Oak Boulevard, Houston, TX, United States, 77056
Google Maps Bing Maps

Westlake Corporation engages in the manufacture and marketing of performance and essential materials, and housing and infrastructure products in the United States, Canada, Germany, China, Mexico, Brazil, France, Italy, Taiwan, and internationally. The company operates through two segments: Performance and Essential Materials and Housing and Infrastructure Products. The Performance and Essential Materials segment offers ethylene, polyethylene, styrene, chlorinated derivative products, ethylene dichloride, vinyl chloride monomer, polyvinyl chloride (PVC), epoxy specialty resins, and base epoxy resins and intermediaries, as well as chlor-alkali, such as chlorine and caustic soda. The Housing and Infrastructure Products segment provides residential PVC sidings; PVC trim and mouldings; architectural stone veneers; windows; PVC decking; PVC films for various inflatables, wallcovering, and tape and roofing applications; polymer composite and cement roof tiles; PVC pipes and fittings for various water, sewer, electrical, and industrial applications; PVC compounds used in various housing, medical, and automobile products; and consumer and commercial products, such as landscape edging; industrial, home, and office matting; marine dock edging; and masonry joint controls. It offers its products to chemical processors, plastics fabricators, small construction contractors, municipalities, and supply warehouses for use in various consumer and industrial markets, including residential construction, flexible and rigid packaging, automotive products, healthcare products, water treatment, wind turbines, and coatings, as well as other durable and non-durable goods. The company was formerly known as Westlake Chemical Corporation and changed its name to Westlake Corporation in February 2022. Westlake Corporation was founded in 1986 and is headquartered in Houston, Texas. Westlake Corporation operates as a subsidiary of TTWF LP.

Fundamental data was last updated by Penke on 2024-04-30 11:29:03.

Financial Health

Profitability Details

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

Operating Efficiency Details

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

Liquidity Details

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

Solvency Details

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

1.1. Profitability of Westlake Chemical Corporation.

1.1. Profitability

1.1.1. Net Profit Margin

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

Above 10% is considered healthy but always compare Westlake to the Specialty Chemicals industry mean.
A Net Profit Margin of -17.6% means that $-0.18 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Westlake Chemical Corporation:

The MRQ is -17.6%. The company is making a huge loss. -2
The TTM is 3.1%. The company is making a profit. +1

Trends

Current period		Compared to		+/-
MRQ	-17.6%	TTM	3.1%	-20.7%
TTM	3.1%	YOY	13.7%	-10.6%
TTM	3.1%	5Y	8.6%	-5.5%
5Y	8.6%	10Y	10.8%	-2.3%

Compared to industry (Specialty Chemicals)

Period	Company	Industry (mean)	+/-
MRQ	-17.6%	3.7%	-21.3%
TTM	3.1%	3.8%	-0.7%
YOY	13.7%	5.7%	+8.0%
5Y	8.6%	5.8%	+2.8%
10Y	10.8%	5.9%	+4.9%

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

Revenue is the amount of profit Westlake 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 Westlake 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 Westlake to the Specialty Chemicals industry mean.
Can be used to compare companies within the Specialty Chemicals industry.

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

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of Westlake. If profit margins remain low (compared to the Specialty Chemicals 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 Westlake is -0.18. This means that Westlake earned $-0.18 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Net Profit Margin of the Specialty Chemicals industry is 3.7%.
What is the trend?
The trend is important because it shows you how Westlake is performing over time. The most recent quarter might be important if Westlake 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 Westlake 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 Westlake with other companies in the same industry (Specialty Chemicals).
Net profit margin should rise over the years.
Can be influenced when Westlake sells assets (profit will increase while costs remain the same).
It won’t show what part of Westlake 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 Westlake

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 Westlake = -497,000
Total revenue MRQ Westlake = 2,826,000
$-497,000 / $2,826,000 = -0.18 or -17.6%

Higher is better

The higher the net profit margin, the more efficient the company is generating income. This helps investors to determine how the company is managing money. The net profit margin is an important indicator when diving into the financial health of a company. Overall, you want to see the net profit margin rising over the years. That means the company improved their production and made it more efficient (if possible).

You can use the net profit margin to compare companies within the same industry. If there are two companies where one is much bigger but the smaller one has a higher net profit margin, that means the smaller company is more efficiently using operational costs.

Important: Profit margins can be very different between industries. Companies with assembly lines or transports are much more prone to see shifting in prices for fuel, ingredients and maintenance compared to companies that only provide services. You should never compare net profit margin between different industries.

1.1.2. Return on Assets

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

Above 5% is considered healthy but always compare Westlake to the Specialty Chemicals industry mean.
-2.4% Return on Assets means that Westlake generated $-0.02 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Westlake Chemical Corporation:

The MRQ is -2.4%. Using its assets, the company is very inefficient in making profit. -2
The TTM is 0.6%. Using its assets, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	-2.4%	TTM	0.6%	-2.9%
TTM	0.6%	YOY	2.8%	-2.2%
TTM	0.6%	5Y	1.6%	-1.0%
5Y	1.6%	10Y	2.1%	-0.5%

Compared to industry (Specialty Chemicals)

Period	Company	Industry (mean)	+/-
MRQ	-2.4%	1.0%	-3.4%
TTM	0.6%	1.0%	-0.4%
YOY	2.8%	1.5%	+1.3%
5Y	1.6%	1.5%	+0.1%
10Y	2.1%	1.7%	+0.4%

Shows how efficient Westlake 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 Westlake to the Specialty Chemicals 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 Westlake is using its resources to generate profit. If the return on assets (-2.4%) from Westlake are higher than the Specialty Chemicals mean (1.0%) that means Westlake 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 Westlake is -2.4%. This means the company generated $-0.02 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the Specialty Chemicals industry is 1.0%.
What is the trend?
The trend is important because it shows you how Westlake is performing over time. The most recent quarter might be important if Westlake 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 Westlake 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 Westlake

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

Income statement
Balance sheet

Net income MRQ (income statement) from Westlake = -497,000
Total assets MRQ (balance sheet) from Westlake = 21,035,000
-497,000 / 21,035,000 = -0.02 or -2.4%

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

Above 15%-20% is considered healthy but always compare Westlake to the Specialty Chemicals industry mean.
-4.9% Return on Equity means Westlake generated $-0.05 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Westlake Chemical Corporation:

The MRQ is -4.9%. Using its investors money, the company is very inefficient in making profit. -2
The TTM is 1.1%. Using its investors money, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	-4.9%	TTM	1.1%	-6.0%
TTM	1.1%	YOY	6.1%	-5.0%
TTM	1.1%	5Y	3.5%	-2.4%
5Y	3.5%	10Y	4.3%	-0.9%

Compared to industry (Specialty Chemicals)

Period	Company	Industry (mean)	+/-
MRQ	-4.9%	1.9%	-6.8%
TTM	1.1%	1.9%	-0.8%
YOY	6.1%	2.9%	+3.2%
5Y	3.5%	2.8%	+0.7%
10Y	4.3%	2.9%	+1.4%

Shows how efficient Westlake 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 Westlake to the Specialty Chemicals 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 Specialty Chemicals 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 Westlake is -4.9%. This means Westlake generated $-0.05 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the Specialty Chemicals industry is 1.9%.
What is the trend?
The trend is important because it shows you how Westlake is performing over time. The most recent quarter might be important if Westlake 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 Westlake up to 10 years back (depending if Westlake 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 Westlake

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Westlake = -497,000
Shareholders equity (balance sheet) MRQ Westlake = 10,241,000
-497,000 / 10,241,000 = -0.05 or -4.9%

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

1.2. Operating Efficiency of Westlake Chemical Corporation.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Westlake is operating .

Measures how much profit Westlake 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 Westlake to the Specialty Chemicals industry mean.
An Operating Margin of -1.9% means the company generated $-0.02 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Westlake Chemical Corporation:

The MRQ is -1.9%. The company is operating very inefficient. -2
The TTM is 10.0%. The company is operating less efficient.

Trends

Current period		Compared to		+/-
MRQ	-1.9%	TTM	10.0%	-11.9%
TTM	10.0%	YOY	18.7%	-8.7%
TTM	10.0%	5Y	13.6%	-3.6%
5Y	13.6%	10Y	16.4%	-2.8%

Compared to industry (Specialty Chemicals)

Period	Company	Industry (mean)	+/-
MRQ	-1.9%	7.6%	-9.5%
TTM	10.0%	3.8%	+6.2%
YOY	18.7%	7.0%	+11.7%
5Y	13.6%	7.8%	+5.8%
10Y	16.4%	7.4%	+9.0%

Measures how efficient Westlake 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 Westlake to the Specialty Chemicals 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 Westlake 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 Westlake is -1.9%. This means that Westlake earned $-0.02 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Specialty Chemicals industry is 7.6%.
What is the trend?
The trend is important because it shows you how Westlake is performing over time. The most recent quarter might be important if Westlake 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 Westlake 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 Westlake

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Westlake = -55,000
Total revenue MRQ Westlake = 2,826,000
$-55,000 / $2,826,000 = -0.02 or -1.9%

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 Westlake is keeping operating costs low.

Below 1 is considered healthy (always compare to Specialty Chemicals industry mean).
An Operation Ratio of 1.02 means that the operating costs are $1.02 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Westlake Chemical Corporation:

The MRQ is 1.019. The company is inefficient in keeping operating costs low. -1
The TTM is 0.906. The company is less efficient in keeping operating costs low.

Trends

Current period		Compared to		+/-
MRQ	1.019	TTM	0.906	+0.113
TTM	0.906	YOY	0.811	+0.095
TTM	0.906	5Y	0.868	+0.038
5Y	0.868	10Y	0.841	+0.027

Compared to industry (Specialty Chemicals)

Period	Company	Industry (mean)	+/-
MRQ	1.019	1.542	-0.523
TTM	0.906	1.550	-0.644
YOY	0.811	1.489	-0.678
5Y	0.868	1.464	-0.596
10Y	0.841	1.250	-0.409

Measures how efficient Westlake 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 Westlake to the Specialty Chemicals 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 Westlake is 101.9%. This means that Westlake earned $1.02 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 Specialty Chemicals industry is 1.54.
What is the trend?
The trend is important because it shows you how Westlake is performing over time. The most recent quarter might be important if Westlake 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 Westlake 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 Westlake

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
(2,657,000 +224,000) \ 2,826,000 = 1.02

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 Westlake Chemical Corporation.

1.3. Liquidity

1.3.1. Current Ratio

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

Above 1.5 is considered healthy (always compare to Specialty Chemicals industry mean).
A Current Ratio of 2.37 means the company has $2.37 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Westlake Chemical Corporation:

The MRQ is 2.369. The company is able to pay all its short-term debts. +1
The TTM is 2.678. The company is able to pay all its short-term debts. +1

Trends

Current period		Compared to		+/-
MRQ	2.369	TTM	2.678	-0.309
TTM	2.678	YOY	2.398	+0.280
TTM	2.678	5Y	2.643	+0.035
5Y	2.643	10Y	2.892	-0.249

Compared to industry (Specialty Chemicals)

Period	Company	Industry (mean)	+/-
MRQ	2.369	1.814	+0.555
TTM	2.678	1.877	+0.801
YOY	2.398	1.898	+0.500
5Y	2.643	1.919	+0.724
10Y	2.892	1.764	+1.128

Measures if Westlake 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 Specialty Chemicals 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 Westlake 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 Westlake is 2.37. This means Westlake has $2.37 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Specialty Chemicals industry is 1.81.
What is the trend?
The trend is important because it shows you how Westlake is performing over time. The most recent quarter might be important if Westlake 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 Westlake 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 Westlake

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
6,609,000 \ 2,790,000) = 2.37

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

Above 1 is considered healthy but always compare Westlake to the Specialty Chemicals industry mean.
A Quick Ratio of 1.76 means the company can pay off $1.76 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Westlake Chemical Corporation:

The MRQ is 1.758. The company is very able to pay all its short-term debts with the most liquid assets. +2
The TTM is 1.933. The company is very able to pay all its short-term debts with the most liquid assets. +2

Trends

Current period		Compared to		+/-
MRQ	1.758	TTM	1.933	-0.175
TTM	1.933	YOY	1.558	+0.375
TTM	1.933	5Y	2.051	-0.118
5Y	2.051	10Y	2.246	-0.195

Compared to industry (Specialty Chemicals)

Period	Company	Industry (mean)	+/-
MRQ	1.758	0.788	+0.970
TTM	1.933	0.840	+1.093
YOY	1.558	0.952	+0.606
5Y	2.051	1.043	+1.008
10Y	2.246	1.033	+1.213

1.4. Solvency of Westlake Chemical Corporation.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

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

Below 1 (100%) is considered healthy but always compare Westlake to Specialty Chemicals industry mean.
A Debt to Asset Ratio of 0.49 means that Westlake assets are financed with 48.8% credit (debt) and the remaining percentage (100% - 48.8%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of Westlake Chemical Corporation:

The MRQ is 0.488. The company is very able to pay all its debts by selling its assets. +2
The TTM is 0.478. The company is very able to pay all its debts by selling its assets. +2

Trends

Current period		Compared to		+/-
MRQ	0.488	TTM	0.478	+0.010
TTM	0.478	YOY	0.508	-0.030
TTM	0.478	5Y	0.508	-0.030
5Y	0.508	10Y	0.488	+0.020

Compared to industry (Specialty Chemicals)

Period	Company	Industry (mean)	+/-
MRQ	0.488	0.426	+0.062
TTM	0.478	0.427	+0.051
YOY	0.508	0.422	+0.086
5Y	0.508	0.430	+0.078
10Y	0.488	0.439	+0.049

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

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

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Westlake to Specialty Chemicals 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 Westlake is 0.49. This means means that Westlake is financed with 48.8% 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 Specialty Chemicals industry is 181.4%.
What is the trend?
The trend is important because it shows you how Westlake is performing over time. The most recent quarter might be important if Westlake 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 Westlake 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 Westlake has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Westlake

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

Balance sheet
Debt to asset ratio = total debt \ total assets
10,271,000 \ 21,035,000 = 48.8% or 0.49.

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

Below 2 is considered healthy but always compare Westlake to the Specialty Chemicals industry mean.
A Debt to Equity ratio of 100.3% means that company has $1.00 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Westlake Chemical Corporation:

The MRQ is 1.003. The company is able to pay all its debts with equity. +1
The TTM is 0.963. The company is very able to pay all its debts with equity. +2

Trends

Current period		Compared to		+/-
MRQ	1.003	TTM	0.963	+0.040
TTM	0.963	YOY	1.098	-0.135
TTM	0.963	5Y	1.118	-0.155
5Y	1.118	10Y	1.088	+0.030

Compared to industry (Specialty Chemicals)

Period	Company	Industry (mean)	+/-
MRQ	1.003	0.759	+0.244
TTM	0.963	0.769	+0.194
YOY	1.098	0.732	+0.366
5Y	1.118	0.805	+0.313
10Y	1.088	0.862	+0.226

Measures if Westlake 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 Westlake 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 Westlake is 1.00. This means that Westlake can pay off $1.00 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Specialty Chemicals industry is 0.76.
What is the trend?
The trend is important because it shows you how Westlake is performing over time. The most recent quarter might be important if Westlake 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 Westlake 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 Westlake

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
10,271,000 \ 10,241,000 = 1.00 or 100.3%

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 Westlake Chemical Corporation

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 Westlake generates.

Above 15 is considered overpriced but always compare Westlake to the Specialty Chemicals industry mean.
A PE ratio of -9.05 means the investor is paying $-9.05 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Westlake Chemical Corporation:

The EOD is -10.102. Based on the earnings, the company is expensive. -2
The MRQ is -9.047. Based on the earnings, the company is expensive. -2
The TTM is 6.874. Based on the earnings, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	-10.102	MRQ	-9.047	-1.054
MRQ	-9.047	TTM	6.874	-15.921
TTM	6.874	YOY	7.532	-0.658
TTM	6.874	5Y	18.047	-11.174
5Y	18.047	10Y	16.014	+2.033

Compared to industry (Specialty Chemicals)

Period	Company	Industry (mean)	+/-
EOD	-10.102	17.157	-27.259
MRQ	-9.047	15.675	-24.722
TTM	6.874	16.001	-9.127
YOY	7.532	16.504	-8.972
5Y	18.047	19.560	-1.513
10Y	16.014	23.433	-7.419

Measures how much money you pay for each share for every $1 in earnings Westlake 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 Westlake to the Specialty Chemicals 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 Westlake is -9.05. This means the investor is paying $-9.05 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Specialty Chemicals industry is 15.68.
What is the trend?
The trend is important because it shows you how Westlake is performing over time. The most recent quarter might be important if Westlake 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 Westlake 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 Westlake

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 \ 128,166 = EPS
PE ratio MRQ = -9.05

* 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 Westlake Chemical Corporation:

The EOD is 17.253. Based on how much money comes from the company's main activities, the company is underpriced. +1
The MRQ is 15.452. Based on how much money comes from the company's main activities, the company is underpriced. +1
The TTM is 12.933. Based on how much money comes from the company's main activities, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	17.253	MRQ	15.452	+1.801
MRQ	15.452	TTM	12.933	+2.519
TTM	12.933	YOY	6.078	+6.855
TTM	12.933	5Y	6.451	+6.483
5Y	6.451	10Y	1.046	+5.404

Compared to industry (Specialty Chemicals)

Period	Company	Industry (mean)	+/-
EOD	17.253	2.269	+14.984
MRQ	15.452	2.271	+13.181
TTM	12.933	3.365	+9.568
YOY	6.078	-1.037	+7.115
5Y	6.451	2.819	+3.632
10Y	1.046	3.141	-2.095

2. Book Value per Share

2.3. Price to Book Ratio

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

At or below 1 is considered healthy (always compare to Specialty Chemicals industry mean).
A PB ratio of 1.67 means the investor is paying $1.67 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Westlake Chemical Corporation:

The EOD is 1.866. Based on the equity, the company is underpriced. +1
The MRQ is 1.671. Based on the equity, the company is underpriced. +1
The TTM is 1.464. Based on the equity, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	1.866	MRQ	1.671	+0.195
MRQ	1.671	TTM	1.464	+0.207
TTM	1.464	YOY	1.337	+0.127
TTM	1.464	5Y	1.384	+0.079
5Y	1.384	10Y	1.879	-0.494

Compared to industry (Specialty Chemicals)

Period	Company	Industry (mean)	+/-
EOD	1.866	1.767	+0.099
MRQ	1.671	1.705	-0.034
TTM	1.464	1.776	-0.312
YOY	1.337	2.148	-0.811
5Y	1.384	2.326	-0.942
10Y	1.879	2.736	-0.857

2. Total Gains per Share

3. Holders & Insider Transactions

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

3.1. Institutions holding Westlake Chemical Corporation

Institutions are holding 28.438% of the shares of Westlake Chemical Corporation.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-09-30	FMR Inc	3.612	0.0499	4630975	96152	2.1203
2023-09-30	BlackRock Inc	2.7452	0.0126	3519629	-283621	-7.4573
2023-09-30	Vanguard Group Inc	2.6385	0.0104	3382864	-66657	-1.9324
2023-12-31	Victory Capital Management Inc.	2.5469	0.4808	3265420	-103824	-3.0815
2023-12-31	Orbis Allan Gray Ltd	2.2051	2.4841	2827239	-384284	-11.9658
2023-12-31	Capital World Investors	1.0232	0.0327	1311836	675725	106.2275
2023-09-30	State Street Corporation	0.8801	0.0078	1128455	-35829	-3.0773
2023-09-30	Pacer Advisors, INC.	0.8392	0.5138	1075976	-85165	-7.3346
2023-12-31	Dimensional Fund Advisors, Inc.	0.8003	0.0419	1026066	-76483	-6.9369
2023-09-30	Soroban Capital Partners LP	0.7011	1.6575	898837	0	0
2023-09-30	Citadel Advisors Llc	0.6011	0.0206	770654	-62695	-7.5233
2023-09-30	Goldman Sachs Group Inc	0.5503	0.0177	705496	-71060	-9.1507
2023-09-30	Mirae Asset Global Investments (Korea) Co Ltd	0.5326	0.1876	682832	63823	10.3105
2023-09-30	Nuveen Asset Management, LLC	0.4045	0.0228	518672	-2457	-0.4715
2023-09-30	Geode Capital Management, LLC	0.3698	0.007	474139	-11870	-2.4423
2023-12-31	First Trust Advisors L.P.	0.3212	0.0629	411818	-61834	-13.0547
2023-12-31	Samlyn Capital, LLC	0.3068	1.096	393294	76563	24.1729
2023-09-30	Bank of New York Mellon Corp	0.2927	0.0103	375327	-27764	-6.8878
2023-12-31	NORGES BANK	0.284	0.0089	364111	54777	17.708
2023-09-30	Charles Schwab Investment Management Inc	0.2688	0.0123	344632	-8423	-2.3857
Total		21.9234	6.7376	28108272	-314926	-1.1%

3.2. Funds holding Westlake Chemical Corporation

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2024-03-31	Victory Sycamore Established Value R	1.568	1.6001	2015000	-60000	-2.8916
2024-03-28	Pacer US Cash Cows 100 ETF	1.051	0.914	1350718	2422	0.1796
2024-03-31	American Funds Fundamental Invs A	1.0286	0.1338	1321882	20982	1.6129
2023-12-31	Capital Group Fundamental Invtrs Comp	1.0123	0.1456	1300900	670042	106.2112
2024-03-31	Vanguard Total Stock Mkt Idx Inv	0.7807	0.0096	1003292	3754	0.3756
2024-03-28	iShares Core S&P Mid-Cap ETF	0.775	0.1789	996006	-1333	-0.1337
2024-03-28	Global X US Infrastructure Dev ETF	0.5643	1.5099	725213	312	0.043
2023-12-31	Orbis Global Equity Investor	0.5435	1.7077	698423	-84297	-10.7698
2024-02-29	Fidelity Contrafund	0.5136	0.0692	660094	0	0
2024-02-29	Fidelity Value	0.4205	0.8159	540449	-19800	-3.5341
2024-02-29	Fidelity Series Stk Selec Lg Cp Val	0.4169	0.66	535800	67400	14.3894
2024-03-31	Vanguard Institutional Extnd Mkt Idx Tr	0.3731	0.0696	479470	6414	1.3559
2024-03-31	Vanguard Small Cap Index	0.3182	0.0425	408892	-3754	-0.9097
2024-03-31	Vanguard Mid Cap Index Institutional	0.2709	0.0319	348133	-9737	-2.7208
2024-02-29	Fidelity Mid-Cap Stock	0.2696	0.6401	346526	0	0
2024-02-29	DFA US Large Cap Value I	0.2481	0.1824	318890	-74	-0.0232
2024-03-31	Principal MidCap Value I Inst	0.2309	1.0959	296781	42	0.0142
2024-02-29	CREF Stock R1	0.23	0.0335	295582	32178	12.2162
2024-03-31	Sycamore Mid Cap Value Comp	0.2296	1.6024	295000	-12700	-4.1274
2024-02-29	Fidelity Contrafund Commingled Pl O	0.2201	0.0735	282886	0	0
Total		11.0649	11.5165	14219937	+611851	+4.3%

3.3. Insider Transactions

Insiders are holding 73.468% of the shares of Westlake Chemical Corporation.

Date	Owner	Type	Amount	Price
2024-03-15	Robert F Buesinger	SELL	3878	144.5
2024-03-13	Robert F Buesinger	SELL	122	144.5
2024-03-06	Mark Steven Bender	SELL	4804	141.02
2024-02-26	Mark Steven Bender	SELL	4854	137.57
2023-11-15	Robert F Buesinger	SELL	4215	130.5
2023-08-23	David Tsung-hung Chao	SELL	1000	131

4. Summary

4.1. Key Performance Indicators

The key performance indicators of Westlake Chemical Corporation 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	-	-	-4.004	0.582	-788%	3.789	-206%	1.842	-317%	1.645	-343%
Book Value Per Share	-	-	83.759	85.494	-2%	77.360	+8%	64.301	+30%	47.875	+75%
Current Ratio	-	-	2.369	2.678	-12%	2.398	-1%	2.643	-10%	2.892	-18%
Debt To Asset Ratio	-	-	0.488	0.478	+2%	0.508	-4%	0.508	-4%	0.488	+0%
Debt To Equity Ratio	-	-	1.003	0.963	+4%	1.098	-9%	1.118	-10%	1.088	-8%
Dividend Per Share	-	-	0.506	0.430	+18%	0.328	+54%	0.312	+62%	0.249	+103%
Eps	-	-	-3.867	0.928	-517%	4.354	-189%	2.130	-282%	1.832	-311%
Free Cash Flow Per Share	-	-	2.264	2.532	-11%	4.436	-49%	2.567	-12%	1.867	+21%
Free Cash Flow To Equity Per Share	-	-	1.720	2.056	-16%	3.298	-48%	2.964	-42%	2.095	-18%
Gross Profit Margin	-	-	1.000	1.000	0%	0.972	+3%	0.994	+1%	0.995	+1%
Intrinsic Value_10Y_max	-	-	153.985	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	50.835	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	14.043	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	7.109	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	43.250	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	19.741	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	73.733	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	30.502	-	-	-	-	-	-	-	-
Market Cap	20082413970.000	+10%	17986399560.000	16068718141.105	+12%	13237607447.270	+36%	11507165131.972	+56%	10456138747.474	+72%
Net Profit Margin	-	-	-0.176	0.031	-666%	0.137	-228%	0.086	-305%	0.108	-262%
Operating Margin	-	-	-0.019	0.100	-119%	0.187	-110%	0.136	-114%	0.164	-112%
Operating Ratio	-	-	1.019	0.906	+13%	0.811	+26%	0.868	+18%	0.841	+21%
Pb Ratio	1.866	+10%	1.671	1.464	+14%	1.337	+25%	1.384	+21%	1.879	-11%
Pe Ratio	-10.102	-12%	-9.047	6.874	-232%	7.532	-220%	18.047	-150%	16.014	-156%
Price Per Share	156.270	+10%	139.960	125.020	+12%	102.710	+36%	89.385	+57%	80.518	+74%
Price To Free Cash Flow Ratio	17.253	+10%	15.452	12.933	+19%	6.078	+154%	6.451	+140%	1.046	+1377%
Price To Total Gains Ratio	-44.667	-12%	-40.005	27.225	-247%	28.456	-241%	59.517	-167%	60.879	-166%
Quick Ratio	-	-	1.758	1.933	-9%	1.558	+13%	2.051	-14%	2.246	-22%
Return On Assets	-	-	-0.024	0.006	-515%	0.028	-185%	0.016	-251%	0.021	-214%
Return On Equity	-	-	-0.049	0.011	-537%	0.061	-180%	0.035	-240%	0.043	-212%
Total Gains Per Share	-	-	-3.499	1.012	-446%	4.117	-185%	2.154	-262%	1.894	-285%
Usd Book Value	-	-	10764000000.000	10988500000.000	-2%	9969750000.000	+8%	8277200000.000	+30%	6197649025.000	+74%
Usd Book Value Change Per Share	-	-	-4.004	0.582	-788%	3.789	-206%	1.842	-317%	1.645	-343%
Usd Book Value Per Share	-	-	83.759	85.494	-2%	77.360	+8%	64.301	+30%	47.875	+75%
Usd Dividend Per Share	-	-	0.506	0.430	+18%	0.328	+54%	0.312	+62%	0.249	+103%
Usd Eps	-	-	-3.867	0.928	-517%	4.354	-189%	2.130	-282%	1.832	-311%
Usd Free Cash Flow	-	-	291000000.000	325500000.000	-11%	571750000.000	-49%	330550000.000	-12%	241826275.000	+20%
Usd Free Cash Flow Per Share	-	-	2.264	2.532	-11%	4.436	-49%	2.567	-12%	1.867	+21%
Usd Free Cash Flow To Equity Per Share	-	-	1.720	2.056	-16%	3.298	-48%	2.964	-42%	2.095	-18%
Usd Market Cap	20082413970.000	+10%	17986399560.000	16068718141.105	+12%	13237607447.270	+36%	11507165131.972	+56%	10456138747.474	+72%
Usd Price Per Share	156.270	+10%	139.960	125.020	+12%	102.710	+36%	89.385	+57%	80.518	+74%
Usd Profit	-	-	-497000000.000	119750000.000	-515%	560250000.000	-189%	273650000.000	-282%	236926725.000	-310%
Usd Revenue	-	-	2826000000.000	3137000000.000	-10%	3948500000.000	-28%	2787100000.000	+1%	2159295200.000	+31%
Usd Total Gains Per Share	-	-	-3.499	1.012	-446%	4.117	-185%	2.154	-262%	1.894	-285%
	EOD	+4 -4	MRQ	TTM	+6 -29	YOY	+13 -23	5Y	+13 -23	10Y	+16 -20

4.2. Fundamental Score

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

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	-10.102
Price to Book Ratio (EOD)	Between	0-1	1.866
Net Profit Margin (MRQ)	Greater than	0	-0.176
Operating Margin (MRQ)	Greater than	0	-0.019
Quick Ratio (MRQ)	Greater than	1	1.758
Current Ratio (MRQ)	Greater than	1	2.369
Debt to Asset Ratio (MRQ)	Less than	1	0.488
Debt to Equity Ratio (MRQ)	Less than	1	1.003
Return on Equity (MRQ)	Greater than	0.15	-0.049
Return on Assets (MRQ)	Greater than	0.05	-0.024
Total			3/10 (30.0%)

Create your own Stock Scanner

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

4.3. Technical Score

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

Penke's Symbol Scanner

Indicator	Condition		Value
Open	Greater than	Close	158.740
Total			1/1 (100.0%)

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
Income before Tax	305,000	211,000	516,000	-139,000	377,000	-12,000	365,000	-923,000	-558,000
Net Income	232,000	162,000	394,000	-97,000	297,000	-12,000	285,000	-782,000	-497,000
EBIT	327,000	209,000	536,000	-114,000	422,000	-17,000	405,000	-460,000	-55,000
Operating Income	327,000	209,000	536,000	-140,000	396,000	-47,000	349,000	-404,000	-55,000
Tax Provision	57,000	52,000	109,000	-39,000	70,000	0	70,000	-141,000	-71,000
Income Tax Expense	57,000	52,000	109,000	-39,000	70,000	0	70,000	-141,000	-71,000
Net Income from Continuing Operations	248,000	159,000	407,000	-100,000	307,000	-12,000	295,000	-782,000	-487,000

Latest Balance Sheet

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

Summary

Total Assets	21,035,000
Total Liabilities	10,271,000
Total Stockholder Equity	10,241,000

	As reported
Total Liabilities	10,271,000
Total Stockholder Equity	+ 10,241,000
Total Assets	= 21,035,000

Assets

Total Assets	21,035,000
Total Current Assets	6,609,000
Long-term Assets	14,426,000

Total Current Assets

Total Current Assets (as reported)	6,609,000
Cash And Cash Equivalents	3,304,000
Net Receivables	1,601,000
Inventory	1,622,000
Other Current Assets	82,000
Total Current Assets (calculated)	6,609,000
+/-	0

Long-term Assets

Long-term Assets (as reported)	14,426,000
Property Plant Equipment	8,519,000
Goodwill	2,041,000
Long Term Investments	1,115,000
Intangible Assets	1,403,000
Long-term Assets (calculated)	13,078,000
+/-	1,348,000

Liabilities & Shareholders' Equity

Total Current Liabilities	2,790,000
Long-term Liabilities	7,481,000
Total Stockholder Equity	10,241,000

Total Current Liabilities

Total Current Liabilities (as reported)	2,790,000
Short-term Debt	299,000
Short Long Term Debt	299,000
Accounts payable	2,491,000
Other Current Liabilities	1,490,000
Total Current Liabilities (calculated)	4,579,000
+/-	1,789,000

Long-term Liabilities

Long-term Liabilities (as reported)	7,481,000
Long term Debt	4,607,000
Capital Lease Obligations	611,000
Long-term Liabilities Other	340,000
Long-term Liabilities (calculated)	5,558,000
+/-	1,923,000

Total Stockholder Equity

Total Stockholder Equity (as reported)	10,241,000
Common Stock	1,000
Retained Earnings	10,143,000
Accumulated Other Comprehensive Income	-98,000
Other Stockholders Equity	195,000
Total Stockholder Equity (calculated)	10,241,000
+/-	0

Other

Capital Stock	1,000
Cash and Short Term Investments	3,304,000
Common Stock Shares Outstanding	128,166
Current Deferred Revenue	-1,490,000
Liabilities and Stockholders Equity	21,035,000
Net Debt	1,602,000
Net Invested Capital	15,147,000
Net Working Capital	3,819,000
Property Plant and Equipment Gross	14,456,000
Short Long Term Debt Total	4,906,000

Balance Sheet

Currency in USD. All numbers in thousands.

Trend

2023-12-31

2023-09-30

2023-06-30

2023-03-31

2022-12-31

2022-09-30

2022-06-30

2022-03-31

2021-12-31

2021-09-30

2021-06-30

2021-03-31

2020-12-31

2020-09-30

2020-06-30

2020-03-31

2019-12-31

2019-09-30

2019-06-30

2019-03-31

2018-12-31

2018-09-30

2018-06-30

2018-03-31

2017-12-31

2017-09-30

2017-06-30

2017-03-31

2016-12-31

2016-09-30

2016-06-30

2016-03-31

2015-12-31

2015-09-30

2015-06-30

2015-03-31

2014-12-31

2014-09-30

2014-06-30

2014-03-31

2013-12-31

2013-09-30

2013-06-30

2013-03-31

2012-12-31

2012-09-30

2012-06-30

2012-03-31

2011-12-31

2011-09-30

2011-06-30

2011-03-31

2010-12-31

2010-09-30

2010-06-30

2010-03-31

2009-12-31

2009-09-30

2009-06-30

2009-03-31

2008-12-31

2008-09-30

2008-06-30

2008-03-31

2007-12-31

2007-09-30

2007-06-30

2007-03-31

2006-12-31

2006-09-30

2006-06-30

2006-03-31

2005-12-31

2005-09-30

2005-06-30

2005-03-31

2004-12-31

2004-09-30

2004-06-30

2004-03-31

2003-12-31

2003-06-30

2002-12-31

> Total Assets

1,322,053
0
1,385,938
1,375,000
1,441,909
1,505,866
1,592,453
1,628,309
1,647,969
1,703,799
1,827,189
1,817,455
1,942,363
1,972,102
2,082,098
2,110,481
2,172,380
2,314,846
2,569,335
2,526,322
2,685,972
2,596,811
2,286,989
2,288,220
2,334,844
2,411,413
2,446,356
2,466,955
2,544,137
2,667,935
2,954,144
3,006,868
3,147,800
3,207,179
3,266,821
3,330,047
3,441,938
3,544,174
3,412,196
3,559,225
3,708,335
3,923,449
4,060,909
4,171,956
4,369,369
5,126,283
5,213,990
5,179,785
5,411,010
5,524,405
5,575,252
5,724,401
5,920,564
10,897,049
10,890,253
10,724,830
10,885,707
11,244,125
12,076,000
11,604,000
11,346,000
11,721,000
11,602,000
12,104,000
12,216,000
13,107,000
13,261,000
14,163,000
13,555,000
13,694,000
13,835,000
14,050,000
14,719,000
17,108,000
18,459,000
19,741,000
20,372,000
20,425,000
20,550,000
20,806,000
20,981,000
21,396,000
21,035,000

21,035,000

21,396,000

20,981,000

20,806,000

20,550,000

20,425,000

20,372,000

19,741,000

18,459,000

17,108,000

14,719,000

14,050,000

13,835,000

13,694,000

13,555,000

14,163,000

13,261,000

13,107,000

12,216,000

12,104,000

11,602,000

11,721,000

11,346,000

11,604,000

12,076,000

11,244,125

10,885,707

10,724,830

10,890,253

10,897,049

5,920,564

5,724,401

5,575,252

5,524,405

5,411,010

5,179,785

5,213,990

5,126,283

4,369,369

4,171,956

4,060,909

3,923,449

3,708,335

3,559,225

3,412,196

3,544,174

3,441,938

3,330,047

3,266,821

3,207,179

3,147,800

3,006,868

2,954,144

2,667,935

2,544,137

2,466,955

2,446,356

2,411,413

2,334,844

2,288,220

2,286,989

2,596,811

2,685,972

2,526,322

2,569,335

2,314,846

2,172,380

2,110,481

2,082,098

1,972,102

1,942,363

1,817,455

1,827,189

1,703,799

1,647,969

1,628,309

1,592,453

1,505,866

1,441,909

1,375,000

1,385,938

1,322,053

> Total Current Assets

0
0
412,843
427,000
508,663
565,373
671,938
712,082
725,600
789,738
902,863
875,329
966,135
973,642
849,787
880,944
937,335
1,066,275
1,092,185
1,032,959
1,217,500
1,107,610
798,989
781,138
850,309
945,384
988,378
1,027,633
1,131,093
1,180,950
1,475,960
1,541,351
1,688,529
1,716,253
1,756,156
1,795,876
1,970,770
1,997,805
1,751,413
1,725,278
1,601,123
1,642,851
1,649,082
1,687,263
1,822,503
1,951,948
2,011,287
2,002,162
2,166,240
2,248,430
2,175,189
2,191,734
2,190,041
2,419,744
2,408,316
2,251,288
2,377,635
2,699,533
3,463,000
2,959,000
2,694,000
3,004,000
2,842,000
2,627,000
2,595,000
3,482,000
2,742,000
3,768,000
3,165,000
3,381,000
3,477,000
3,734,000
4,445,000
6,435,000
5,263,000
5,405,000
6,013,000
6,101,000
5,973,000
6,146,000
6,296,000
6,757,000
6,609,000

6,609,000

6,757,000

6,296,000

6,146,000

5,973,000

6,101,000

6,013,000

5,405,000

5,263,000

6,435,000

4,445,000

3,734,000

3,477,000

3,381,000

3,165,000

3,768,000

2,742,000

3,482,000

2,595,000

2,627,000

2,842,000

3,004,000

2,694,000

2,959,000

3,463,000

2,699,533

2,377,635

2,251,288

2,408,316

2,419,744

2,190,041

2,191,734

2,175,189

2,248,430

2,166,240

2,002,162

2,011,287

1,951,948

1,822,503

1,687,263

1,649,082

1,642,851

1,601,123

1,725,278

1,751,413

1,997,805

1,970,770

1,795,876

1,756,156

1,716,253

1,688,529

1,541,351

1,475,960

1,180,950

1,131,093

1,027,633

988,378

945,384

850,309

781,138

798,989

1,107,610

1,217,500

1,032,959

1,092,185

1,066,275

937,335

880,944

849,787

973,642

966,135

875,329

902,863

789,738

725,600

712,082

671,938

565,373

508,663

427,000

412,843

Cash And Cash Equivalents

10,074
0
37,371
37,000
57,376
50,984
43,396
46,635
109,673
123,348
237,895
236,366
275,615
202,824
52,646
13,325
42,615
139,259
24,914
7,846
22,462
22,452
90,239
179,343
204,007
252,873
245,592
185,263
288,805
428,333
630,299
654,503
712,322
758,939
825,901
895,142
1,110,538
1,198,468
790,078
777,887
625,501
591,556
461,301
532,643
876,067
813,468
880,601
945,649
1,026,569
961,925
662,525
614,976
770,997
380,519
459,453
372,591
395,776
678,233
1,531,000
851,000
482,000
788,000
753,000
445,000
409,000
1,437,000
728,000
1,537,000
1,109,000
1,217,000
1,313,000
1,393,000
1,844,000
3,571,000
1,908,000
1,055,000
1,317,000
1,778,000
2,228,000
2,414,000
2,677,000
3,057,000
3,304,000

3,304,000

3,057,000

2,677,000

2,414,000

2,228,000

1,778,000

1,317,000

1,055,000

1,908,000

3,571,000

1,844,000

1,393,000

1,313,000

1,217,000

1,109,000

1,537,000

728,000

1,437,000

409,000

445,000

753,000

788,000

482,000

851,000

1,531,000

678,233

395,776

372,591

459,453

380,519

770,997

614,976

662,525

961,925

1,026,569

945,649

880,601

813,468

876,067

532,643

461,301

591,556

625,501

777,887

790,078

1,198,468

1,110,538

895,142

825,901

758,939

712,322

654,503

630,299

428,333

288,805

185,263

245,592

252,873

204,007

179,343

90,239

22,452

22,462

7,846

24,914

139,259

42,615

13,325

52,646

202,824

275,615

236,366

237,895

123,348

109,673

46,635

43,396

50,984

57,376

37,000

37,371

10,074

Short-term Investments

0
0
0
18
0
0
0
0
0
0
0
0
0
100,275
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
124,873
94,903
29,969
125,597
239,388
243,694
0
0
0
0
0
285,726
520,144
525,008
352,021
169,320
160,527
9,328
8,607
8,626
1,000
0
0
0
0
0
0
0
0
0
0
1,046,000
1,059,000
1,029,000
1,009,000
1,010,000
0
0
0
0
0
0
0
0
0

1,010,000

1,009,000

1,029,000

1,059,000

1,046,000

1,000

8,626

8,607

9,328

160,527

169,320

352,021

525,008

520,144

285,726

243,694

239,388

125,597

29,969

94,903

124,873

100,275

Net Receivables

0
0
178,639
177,000
198,361
248,462
234,247
286,129
256,128
356,034
302,779
277,268
323,009
335,063
308,903
423,630
399,832
436,327
507,463
464,383
641,504
562,804
347,323
281,011
321,738
343,406
339,796
405,288
427,919
362,438
362,863
409,420
430,301
462,470
407,372
444,609
418,000
393,592
400,159
407,580
475,638
433,025
428,457
421,879
454,281
592,964
560,666
527,127
600,722
520,960
508,532
549,037
582,855
1,070,501
938,743
1,003,966
1,095,808
1,142,979
1,001,000
1,135,000
1,261,000
1,241,000
1,037,000
1,121,000
1,213,000
1,094,000
1,036,000
1,265,000
1,160,000
1,293,000
1,214,000
1,327,000
1,549,000
1,642,000
1,868,000
2,352,000
2,535,000
2,181,000
1,801,000
1,835,000
1,855,000
1,939,000
1,601,000

1,601,000

1,939,000

1,855,000

1,835,000

1,801,000

2,181,000

2,535,000

2,352,000

1,868,000

1,642,000

1,549,000

1,327,000

1,214,000

1,293,000

1,160,000

1,265,000

1,036,000

1,094,000

1,213,000

1,121,000

1,037,000

1,241,000

1,261,000

1,135,000

1,001,000

1,142,979

1,095,808

1,003,966

938,743

1,070,501

582,855

549,037

508,532

520,960

600,722

527,127

560,666

592,964

454,281

421,879

428,457

433,025

475,638

407,580

400,159

393,592

418,000

444,609

407,372

462,470

430,301

409,420

362,863

362,438

427,919

405,288

339,796

343,406

321,738

281,011

347,323

562,804

641,504

464,383

507,463

436,327

399,832

423,630

308,903

335,063

323,009

277,268

302,779

356,034

256,128

286,129

234,247

248,462

198,361

177,000

178,639

Other Current Assets

31,298
0
16,073
14,982
19,999
16,568
74,479
61,137
51,605
23,768
22,319
22,106
24,418
22,552
31,962
26,338
30,369
24,290
31,937
28,679
39,072
31,169
33,460
36,911
37,797
37,076
33,573
38,670
44,344
34,376
32,770
31,171
37,708
28,596
32,106
33,720
35,108
34,208
37,005
36,834
42,876
18,809
48,057
50,038
54,636
44,964
44,244
49,006
52,652
49,813
49,928
24,057
35,642
54,868
48,493
43,695
45,744
34,860
30,000
29,000
46,000
36,000
38,000
40,000
48,000
45,000
42,000
32,000
51,000
42,000
32,000
59,000
87,000
98,000
80,000
114,000
140,000
118,000
78,000
55,000
93,000
89,000
82,000

82,000

89,000

93,000

55,000

78,000

118,000

140,000

114,000

80,000

98,000

87,000

59,000

32,000

42,000

51,000

32,000

42,000

45,000

48,000

40,000

38,000

36,000

46,000

29,000

30,000

34,860

45,744

43,695

48,493

54,868

35,642

24,057

49,928

49,813

52,652

49,006

44,244

44,964

54,636

50,038

48,057

18,809

42,876

36,834

37,005

34,208

35,108

33,720

32,106

28,596

37,708

31,171

32,770

34,376

44,344

38,670

33,573

37,076

37,797

36,911

33,460

31,169

39,072

28,679

31,937

24,290

30,369

26,338

31,962

22,552

24,418

22,106

22,319

23,768

51,605

61,137

74,479

16,568

19,999

14,982

16,073

31,298

> Long-term Assets

0
0
973,095
948,000
933,246
940,493
920,515
916,227
922,369
914,061
924,326
942,126
976,228
998,460
1,232,311
1,229,537
1,235,045
1,248,571
1,477,150
1,493,363
1,468,472
1,489,201
1,488,000
1,507,082
1,484,535
1,466,029
1,457,978
1,439,322
1,413,044
1,486,985
1,478,184
1,465,517
1,459,271
1,490,926
1,510,665
1,534,171
1,471,168
1,546,369
1,660,783
1,833,947
2,107,212
2,280,598
2,411,827
2,484,693
2,546,866
3,174,335
3,202,703
3,177,623
3,244,770
3,275,975
3,400,063
3,532,667
3,730,523
8,477,305
8,481,937
8,473,542
8,508,072
8,544,592
8,613,000
8,645,000
8,652,000
8,717,000
8,760,000
9,477,000
9,621,000
9,625,000
10,519,000
10,395,000
10,390,000
10,313,000
10,358,000
10,316,000
10,274,000
10,673,000
13,196,000
14,336,000
14,359,000
14,324,000
14,577,000
14,660,000
14,685,000
14,639,000
14,426,000

14,426,000

14,639,000

14,685,000

14,660,000

14,577,000

14,324,000

14,359,000

14,336,000

13,196,000

10,673,000

10,274,000

10,316,000

10,358,000

10,313,000

10,390,000

10,395,000

10,519,000

9,625,000

9,621,000

9,477,000

8,760,000

8,717,000

8,652,000

8,645,000

8,613,000

8,544,592

8,508,072

8,473,542

8,481,937

8,477,305

3,730,523

3,532,667

3,400,063

3,275,975

3,244,770

3,177,623

3,202,703

3,174,335

2,546,866

2,484,693

2,411,827

2,280,598

2,107,212

1,833,947

1,660,783

1,546,369

1,471,168

1,534,171

1,510,665

1,490,926

1,459,271

1,465,517

1,478,184

1,486,985

1,413,044

1,439,322

1,457,978

1,466,029

1,484,535

1,507,082

1,488,000

1,489,201

1,468,472

1,493,363

1,477,150

1,248,571

1,235,045

1,229,537

1,232,311

998,460

976,228

942,126

924,326

914,061

922,369

916,227

920,515

940,493

933,246

948,000

973,095

Property Plant Equipment

935,463
0
905,068
871,000
860,040
872,317
855,052
853,872
861,819
855,846
863,232
878,246
900,791
909,532
1,076,903
1,076,364
1,086,873
1,099,611
1,126,212
1,143,224
1,159,799
1,181,572
1,197,452
1,210,748
1,200,958
1,186,010
1,194,311
1,183,345
1,172,632
1,165,410
1,170,334
1,173,185
1,179,698
1,195,508
1,232,066
1,263,556
1,309,752
1,394,198
1,510,048
1,629,309
1,785,574
1,952,918
2,088,014
2,150,643
2,217,049
2,710,475
2,757,557
2,751,486
2,855,508
2,916,630
3,004,067
3,114,821
3,230,523
6,450,947
6,420,062
6,392,745
6,316,731
6,343,637
6,412,000
6,447,000
6,468,000
6,519,000
6,595,000
7,120,000
7,213,000
6,842,000
6,912,000
6,883,000
7,349,000
6,853,000
6,920,000
6,921,000
7,371,000
6,992,000
7,606,000
8,276,000
8,303,000
8,884,000
8,525,000
8,518,000
8,550,000
8,570,000
8,519,000

8,519,000

8,570,000

8,550,000

8,518,000

8,525,000

8,884,000

8,303,000

8,276,000

7,606,000

6,992,000

7,371,000

6,921,000

6,920,000

6,853,000

7,349,000

6,883,000

6,912,000

6,842,000

7,213,000

7,120,000

6,595,000

6,519,000

6,468,000

6,447,000

6,412,000

6,343,637

6,316,731

6,392,745

6,420,062

6,450,947

3,230,523

3,114,821

3,004,067

2,916,630

2,855,508

2,751,486

2,757,557

2,710,475

2,217,049

2,150,643

2,088,014

1,952,918

1,785,574

1,629,309

1,510,048

1,394,198

1,309,752

1,263,556

1,232,066

1,195,508

1,179,698

1,173,185

1,170,334

1,165,410

1,172,632

1,183,345

1,194,311

1,186,010

1,200,958

1,210,748

1,197,452

1,181,572

1,159,799

1,143,224

1,126,212

1,099,611

1,086,873

1,076,364

1,076,903

909,532

900,791

878,246

863,232

855,846

861,819

853,872

855,052

872,317

860,040

871,000

905,068

935,463

Goodwill

0
0
0
0
0
0
0
0
0
0
0
0
0
0
36,098
0
0
0
29,990
0
0
0
29,990
0
0
0
29,990
0
0
0
29,990
0
0
0
29,990
0
0
0
29,990
0
0
0
62,016
62,016
62,016
62,016
62,016
62,016
62,016
62,016
62,016
62,016
62,016
925,700
946,553
950,681
999,614
1,011,342
1,012,000
1,010,000
1,006,000
1,008,000
1,002,000
1,047,000
1,079,000
1,069,000
1,074,000
1,065,000
1,070,000
1,075,000
1,083,000
1,082,000
1,085,000
1,253,000
2,024,000
2,140,000
2,139,000
2,143,000
2,161,000
2,167,000
2,167,000
2,161,000
2,041,000

2,041,000

2,161,000

2,167,000

2,161,000

2,143,000

2,139,000

2,140,000

2,024,000

1,253,000

1,085,000

1,082,000

1,083,000

1,075,000

1,070,000

1,065,000

1,074,000

1,069,000

1,079,000

1,047,000

1,002,000

1,008,000

1,006,000

1,010,000

1,012,000

1,011,342

999,614

950,681

946,553

925,700

62,016

29,990

36,098

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
47,113
47,280
46,741
46,039
44,815
44,174
43,736
43,914
48,480
65,488
66,875
67,560
68,867
70,828
61,305
64,721
37,746
9,593
9,208
9,431
8,929
48,081
48,081
0
0
0
0
0
0
0
0
225,000
225,000
227,000
1,112,000
1,065,000
1,052,000
1,046,000
1,059,000
1,029,000
1,009,000
1,010,000
1,007,000
1,105,000
1,143,000
1,147,000
1,142,000
1,131,000
1,120,000
1,117,000
1,115,000

1,115,000

1,117,000

1,120,000

1,131,000

1,142,000

1,147,000

1,143,000

1,105,000

1,007,000

1,010,000

1,009,000

1,029,000

1,059,000

1,046,000

1,052,000

1,065,000

1,112,000

227,000

225,000

48,081

8,929

9,431

9,208

9,593

37,746

64,721

61,305

70,828

68,867

67,560

66,875

65,488

48,480

43,914

43,736

44,174

44,815

46,039

46,741

47,280

47,113

Intangible Assets

0
0
0
0
0
0
17,903
0
0
0
17,062
0
0
0
38,974
0
0
0
34,685
0
0
0
31,156
0
0
0
26,547
0
0
0
22,113
0
0
0
19,073
0
0
0
18,302
48,108
161,324
159,376
97,030
157,086
155,394
222,728
156,415
207,254
213,968
218,652
151,388
213,508
208,376
790,202
787,454
769,338
824,083
802,050
777,000
754,000
718,000
691,000
659,000
751,000
763,000
732,000
710,000
677,000
653,000
632,000
612,000
579,000
553,000
668,000
1,580,000
1,692,000
1,640,000
1,575,000
1,565,000
565,000
1,507,000
538,000
1,403,000

1,403,000

538,000

1,507,000

565,000

1,565,000

1,575,000

1,640,000

1,692,000

1,580,000

668,000

553,000

579,000

612,000

632,000

653,000

677,000

710,000

732,000

763,000

751,000

659,000

691,000

718,000

754,000

777,000

802,050

824,083

769,338

787,454

790,202

208,376

213,508

151,388

218,652

213,968

207,254

156,415

222,728

155,394

157,086

97,030

159,376

161,324

48,108

18,302

19,073

22,113

26,547

31,156

34,685

38,974

17,062

17,903

Long-term Assets Other

0
0
68,027
-83,000
65,127
60,097
65,463
8,356
17,551
41,468
61,094
50,869
62,397
75,888
80,336
137,291
132,449
131,886
256,777
332,448
291,037
290,053
193,766
264,464
283,577
280,019
167,676
255,977
240,412
287,692
205,858
245,533
279,573
295,418
109,107
270,615
161,416
107,997
150,735
90,318
89,731
80,523
323,813
75,246
71,388
144,224
445,146
123,174
107,914
99,559
395,996
-414,845
-382,292
2,026,358
184,882
2,080,797
367,644
387,563
412,000
434,000
460,000
499,000
251,000
559,000
566,000
2,783,000
3,607,000
-681,000
-1,088,000
-696,000
3,438,000
-680,000
-1,140,000
-695,000
5,590,000
-692,000
-709,000
-1,228,000
1,184,000
563,000
-351,000
573,000
5,907,000

5,907,000

573,000

-351,000

563,000

1,184,000

-1,228,000

-709,000

-692,000

5,590,000

-695,000

-1,140,000

-680,000

3,438,000

-696,000

-1,088,000

-681,000

3,607,000

2,783,000

566,000

559,000

251,000

499,000

460,000

434,000

412,000

387,563

367,644

2,080,797

184,882

2,026,358

-382,292

-414,845

395,996

99,559

107,914

123,174

445,146

144,224

71,388

75,246

323,813

80,523

89,731

90,318

150,735

107,997

161,416

270,615

109,107

295,418

279,573

245,533

205,858

287,692

240,412

255,977

167,676

280,019

283,577

264,464

193,766

290,053

291,037

332,448

256,777

131,886

132,449

137,291

80,336

75,888

62,397

50,869

61,094

41,468

17,551

8,356

65,463

60,097

65,127

-83,000

68,027

> Total Liabilities

797,334
0
842,398
919,000
929,378
782,928
823,056
798,845
771,616
781,763
833,083
772,687
830,903
799,801
908,557
918,969
942,787
1,047,382
1,282,665
1,237,443
1,351,544
1,237,917
1,047,929
1,057,112
1,087,188
1,133,785
1,161,374
1,163,570
1,186,030
1,248,352
1,449,074
1,412,361
1,473,972
1,478,056
1,510,509
1,467,017
1,489,627
1,510,746
1,539,940
1,569,434
1,595,849
1,658,392
1,642,306
1,603,384
1,641,296
2,003,935
2,012,102
1,909,043
1,993,835
2,004,567
2,013,321
2,019,999
2,183,128
7,072,912
6,998,208
6,691,998
6,676,664
6,692,626
6,707,000
5,963,000
5,500,000
5,633,000
5,526,000
5,919,000
5,957,000
6,745,000
6,858,000
7,725,000
7,118,000
7,206,000
7,257,000
7,225,000
7,380,000
9,239,000
9,931,000
10,489,000
10,398,000
10,237,000
10,085,000
9,978,000
9,904,000
10,111,000
10,271,000

10,271,000

10,111,000

9,904,000

9,978,000

10,085,000

10,237,000

10,398,000

10,489,000

9,931,000

9,239,000

7,380,000

7,225,000

7,257,000

7,206,000

7,118,000

7,725,000

6,858,000

6,745,000

5,957,000

5,919,000

5,526,000

5,633,000

5,500,000

5,963,000

6,707,000

6,692,626

6,676,664

6,691,998

6,998,208

7,072,912

2,183,128

2,019,999

2,013,321

2,004,567

1,993,835

1,909,043

2,012,102

2,003,935

1,641,296

1,603,384

1,642,306

1,658,392

1,595,849

1,569,434

1,539,940

1,510,746

1,489,627

1,467,017

1,510,509

1,478,056

1,473,972

1,412,361

1,449,074

1,248,352

1,186,030

1,163,570

1,161,374

1,133,785

1,087,188

1,057,112

1,047,929

1,237,917

1,351,544

1,237,443

1,282,665

1,047,382

942,787

918,969

908,557

799,801

830,903

772,687

833,083

781,763

771,616

798,845

823,056

782,928

929,378

919,000

842,398

797,334

> Total Current Liabilities

148,382
0
180,055
204,000
219,210
219,361
250,215
261,958
236,401
270,694
305,849
244,869
301,091
269,953
321,912
306,552
339,023
367,350
441,262
350,711
465,001
391,789
212,288
212,159
261,599
263,668
286,566
289,664
304,924
273,704
323,578
277,371
329,632
331,562
364,595
311,963
338,077
362,807
398,510
399,815
394,456
432,686
404,858
359,934
386,929
573,036
537,180
453,207
534,658
534,887
522,642
506,161
620,101
1,204,650
1,183,083
943,431
1,030,921
1,170,276
1,967,000
1,653,000
1,186,000
1,301,000
1,183,000
1,226,000
1,254,000
1,238,000
1,241,000
1,024,000
1,109,000
1,218,000
1,357,000
1,326,000
1,485,000
1,898,000
2,344,000
2,550,000
2,513,000
2,461,000
2,298,000
2,159,000
2,131,000
2,659,000
2,790,000

2,790,000

2,659,000

2,131,000

2,159,000

2,298,000

2,461,000

2,513,000

2,550,000

2,344,000

1,898,000

1,485,000

1,326,000

1,357,000

1,218,000

1,109,000

1,024,000

1,241,000

1,238,000

1,254,000

1,226,000

1,183,000

1,301,000

1,186,000

1,653,000

1,967,000

1,170,276

1,030,921

943,431

1,183,083

1,204,650

620,101

506,161

522,642

534,887

534,658

453,207

537,180

573,036

386,929

359,934

404,858

432,686

394,456

399,815

398,510

362,807

338,077

311,963

364,595

331,562

329,632

277,371

323,578

273,704

304,924

289,664

286,566

263,668

261,599

212,159

212,288

391,789

465,001

350,711

441,262

367,350

339,023

306,552

321,912

269,953

301,091

244,869

305,849

270,694

236,401

261,958

250,215

219,361

219,210

204,000

180,055

148,382

Short-term Debt

0
0
1,200
1,200
28,200
1,200
1,200
1,200
1,200
1,200
1,200
0
0
0
-15,876
0
0
0
-17,705
0
0
0
-26,622
0
0
0
-26,499
0
0
0
-17,288
0
0
0
-19,611
0
0
0
-22,305
0
0
0
-34,169
0
0
0
-32,437
0
19,175
7,150
235,329
1,033
1,263
148,681
149,341
1,189
704
3,349,402
710,000
461,000
2,666,000
0
-1,159,000
22,000
26,000
17,000
-1,255,000
1,000
3,000
1,000
7,000
34,000
37,000
268,000
269,000
264,000
10,000
8,000
119,000
2,000
3,000
299,000
299,000

299,000

3,000

2,000

119,000

8,000

10,000

264,000

269,000

268,000

37,000

34,000

7,000

1,000

3,000

1,000

-1,255,000

17,000

26,000

22,000

-1,159,000

2,666,000

461,000

710,000

3,349,402

704

1,189

149,341

148,681

1,263

1,033

235,329

7,150

19,175

-32,437

-34,169

-22,305

-19,611

-17,288

-26,499

-26,622

-17,705

-15,876

1,200

28,200

1,200

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
763,997
0
0
0
764,258
0
148,681
148,681
3,828,000
3,602,831
3,489,900
3,349,402
710,000
461,000
2,666,000
0
0
22,000
26,000
17,000
0
1,000
0
0
0
34,000
37,000
268,000
269,000
264,000
10,000
8,000
0
2,000
3,000
299,000
299,000

299,000

3,000

2,000

8,000

10,000

264,000

269,000

268,000

37,000

34,000

1,000

17,000

26,000

22,000

2,666,000

461,000

710,000

3,349,402

3,489,900

3,602,831

3,828,000

148,681

764,258

763,997

Accounts payable

68,207
0
93,404
94,000
95,030
121,692
146,890
168,081
143,598
136,176
199,777
150,717
186,394
145,033
238,914
220,462
260,271
266,820
314,951
260,058
342,911
275,896
112,833
132,904
145,607
162,083
179,130
195,413
182,307
148,908
204,774
185,274
223,666
196,393
227,034
197,449
208,309
199,438
217,050
232,061
247,007
258,067
249,613
211,952
219,600
263,365
261,062
247,493
263,803
237,622
235,329
256,351
305,853
502,378
494,743
541,932
582,805
560,804
600,000
596,000
582,000
626,000
507,000
526,000
495,000
479,000
473,000
430,000
441,000
446,000
529,000
569,000
630,000
704,000
864,000
1,011,000
1,138,000
992,000
870,000
828,000
785,000
811,000
2,491,000

2,491,000

811,000

785,000

828,000

870,000

992,000

1,138,000

1,011,000

864,000

704,000

630,000

569,000

529,000

446,000

441,000

430,000

473,000

479,000

495,000

526,000

507,000

626,000

582,000

596,000

600,000

560,804

582,805

541,932

494,743

502,378

305,853

256,351

235,329

237,622

263,803

247,493

261,062

263,365

219,600

211,952

249,613

258,067

247,007

232,061

217,050

199,438

208,309

197,449

227,034

196,393

223,666

185,274

204,774

148,908

182,307

195,413

179,130

162,083

145,607

132,904

112,833

275,896

342,911

260,058

314,951

266,820

260,271

220,462

238,914

145,033

186,394

150,717

199,777

136,176

143,598

168,081

146,890

121,692

95,030

94,000

93,404

68,207

Other Current Liabilities

65,502
0
77,372
100,721
95,980
96,469
36,335
92,677
91,603
133,318
91,859
94,152
114,697
124,920
82,998
86,090
78,752
100,530
126,311
90,653
122,090
115,893
99,455
79,255
115,992
101,585
107,436
94,251
122,617
124,796
118,804
92,097
105,966
135,169
137,561
114,514
129,768
163,369
181,460
167,754
147,449
174,619
155,245
147,982
167,329
309,671
276,118
205,714
251,680
290,115
16,545
248,777
312,985
553,591
-1,111,576
400,310
447,412
609,472
-454,000
596,000
604,000
675,000
676,000
678,000
733,000
742,000
768,000
593,000
668,000
772,000
-547,000
723,000
818,000
926,000
-470,000
1,275,000
-478,000
-342,000
-426,000
1,329,000
1,329,000
1,549,000
1,490,000

1,490,000

1,549,000

1,329,000

-426,000

-342,000

-478,000

1,275,000

-470,000

926,000

818,000

723,000

-547,000

772,000

668,000

593,000

768,000

742,000

733,000

678,000

676,000

675,000

604,000

596,000

-454,000

609,472

447,412

400,310

-1,111,576

553,591

312,985

248,777

16,545

290,115

251,680

205,714

276,118

309,671

167,329

147,982

155,245

174,619

147,449

167,754

181,460

163,369

129,768

114,514

137,561

135,169

105,966

92,097

118,804

124,796

122,617

94,251

107,436

101,585

115,992

79,255

99,455

115,893

122,090

90,653

126,311

100,530

78,752

86,090

82,998

124,920

114,697

94,152

91,859

133,318

91,603

92,677

36,335

96,469

95,980

100,721

77,372

65,502

> Long-term Liabilities

0
0
662,343
715,000
710,168
563,567
572,841
536,887
535,215
511,069
527,234
527,818
529,812
529,848
586,645
612,417
603,764
680,032
841,403
886,732
886,543
846,128
835,641
844,953
825,589
870,117
874,808
873,906
881,106
974,648
1,125,496
1,134,990
1,144,340
1,146,494
1,145,914
1,155,054
1,151,550
1,147,939
1,141,430
1,169,619
1,201,393
1,225,706
1,237,448
1,243,450
1,254,367
1,430,899
1,474,922
1,455,836
1,459,177
1,469,680
1,490,679
1,513,838
1,563,027
5,868,262
5,815,125
5,748,567
5,645,743
5,522,350
4,740,000
4,310,000
4,314,000
4,332,000
4,343,000
4,693,000
4,703,000
5,507,000
5,617,000
6,701,000
6,009,000
5,988,000
5,900,000
5,899,000
5,895,000
7,341,000
7,587,000
7,939,000
7,885,000
7,776,000
7,787,000
7,819,000
7,773,000
7,452,000
7,481,000

7,481,000

7,452,000

7,773,000

7,819,000

7,787,000

7,776,000

7,885,000

7,939,000

7,587,000

7,341,000

5,895,000

5,899,000

5,900,000

5,988,000

6,009,000

6,701,000

5,617,000

5,507,000

4,703,000

4,693,000

4,343,000

4,332,000

4,314,000

4,310,000

4,740,000

5,522,350

5,645,743

5,748,567

5,815,125

5,868,262

1,563,027

1,513,838

1,490,679

1,469,680

1,459,177

1,455,836

1,474,922

1,430,899

1,254,367

1,243,450

1,237,448

1,225,706

1,201,393

1,169,619

1,141,430

1,147,939

1,151,550

1,155,054

1,145,914

1,146,494

1,144,340

1,134,990

1,125,496

974,648

881,106

873,906

874,808

870,117

825,589

844,953

835,641

846,128

886,543

886,732

841,403

680,032

603,764

612,417

586,645

529,848

529,812

527,818

527,234

511,069

535,215

536,887

572,841

563,567

710,168

715,000

662,343

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
764,522
764,543
764,563
764,583
764,604
763,731
763,761
763,790
763,820
763,849
763,879
763,909
763,938
763,968
763,997
764,027
764,056
764,086
764,115
0
758,453
3,680,585
3,678,654
3,601,642
3,489,900
3,349,402
3,127,000
2,666,000
2,666,000
2,667,000
2,668,000
2,669,000
2,669,000
3,424,000
3,445,000
4,432,000
3,745,000
3,681,000
3,566,000
3,547,000
3,555,000
4,929,000
4,911,000
4,902,000
4,858,000
4,813,000
4,879,000
4,892,000
4,894,000
4,574,000
0

4,574,000

4,894,000

4,892,000

4,879,000

4,813,000

4,858,000

4,902,000

4,911,000

4,929,000

3,555,000

3,547,000

3,566,000

3,681,000

3,745,000

4,432,000

3,445,000

3,424,000

2,669,000

2,668,000

2,667,000

2,666,000

3,127,000

3,349,402

3,489,900

3,601,642

3,678,654

3,680,585

758,453

764,115

764,086

764,056

764,027

763,997

763,968

763,938

763,909

763,879

763,849

763,820

763,790

763,761

763,731

764,604

764,583

764,563

764,543

764,522

Capital Lease Obligations Min Short Term Debt

0
0
-1,200
-1,200
-28,200
-1,200
-1,200
-1,200
-1,200
-1,200
-1,200
0
0
0
15,876
0
0
0
17,705
0
0
0
26,622
0
0
0
26,499
0
0
0
17,288
0
0
0
19,611
0
0
0
22,305
0
0
0
34,169
0
0
0
32,437
0
-19,175
-7,150
-235,329
-1,033
-1,263
-148,681
-149,341
-1,189
-704
-3,349,402
-710,000
-461,000
-2,666,000
0
1,159,000
289,000
268,000
313,000
1,610,000
345,000
369,000
372,000
369,000
349,000
332,000
124,000
192,000
250,000
484,000
466,000
385,000
529,000
533,000
243,000
312,000

312,000

243,000

533,000

529,000

385,000

466,000

484,000

250,000

192,000

124,000

332,000

349,000

369,000

372,000

369,000

345,000

1,610,000

313,000

268,000

289,000

1,159,000

-2,666,000

-461,000

-710,000

-3,349,402

-704

-1,189

-149,341

-148,681

-1,263

-1,033

-235,329

-7,150

-19,175

32,437

34,169

22,305

19,611

17,288

26,499

26,622

17,705

15,876

-1,200

-28,200

-1,200

Long-term Liabilities Other

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
47,965
46,604
50,560
49,518
49,784
48,814
51,379
49,854
50,784
51,691
35,593
32,338
31,639
153,158
174,859
157,130
162,777
170,770
150,961
904,086
139,587
580,593
485,896
497,805
507,314
512,034
502,000
519,000
495,000
481,000
516,000
825,000
828,000
853,000
917,000
883,000
910,000
904,000
966,000
967,000
202,000
967,000
995,000
3,037,000
1,184,000
1,160,000
1,173,000
1,211,000
1,187,000
2,878,000
340,000

340,000

2,878,000

1,187,000

1,211,000

1,173,000

1,160,000

1,184,000

3,037,000

995,000

967,000

202,000

967,000

966,000

904,000

910,000

883,000

917,000

853,000

828,000

825,000

516,000

481,000

495,000

519,000

502,000

512,034

507,314

497,805

485,896

580,593

139,587

904,086

150,961

170,770

162,777

157,130

174,859

153,158

31,639

32,338

35,593

51,691

50,784

49,854

51,379

48,814

49,784

49,518

50,560

46,604

47,965

Deferred Long Term Liability

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
331,853
335,347
330,791
340,953
337,162
335,394
326,290
355,975
386,789
410,166
437,976
447,203
458,790
513,773
536,066
534,679
532,344
534,824
575,603
609,752
664,987
1,607,084
1,650,575
1,649,120
1,648,529
1,660,914
1,111,000
1,125,000
1,153,000
1,184,000
1,159,000
1,199,000
1,206,000
1,230,000
1,255,000
1,386,000
1,354,000
1,403,000
1,368,000
1,385,000
1,396,000
1,445,000
1,681,000
1,815,000
1,843,000
1,803,000
1,735,000
1,716,000
1,692,000
413,000
0

413,000

1,692,000

1,716,000

1,735,000

1,803,000

1,843,000

1,815,000

1,681,000

1,445,000

1,396,000

1,385,000

1,368,000

1,403,000

1,354,000

1,386,000

1,255,000

1,230,000

1,206,000

1,199,000

1,159,000

1,184,000

1,153,000

1,125,000

1,111,000

1,660,914

1,648,529

1,649,120

1,650,575

1,607,084

664,987

609,752

575,603

534,824

532,344

534,679

536,066

513,773

458,790

447,203

437,976

410,166

386,789

355,975

326,290

335,394

337,162

340,953

330,791

335,347

331,853

> Total Stockholder Equity

443,425
0
543,540
456,000
490,431
722,938
769,397
829,464
876,353
922,036
994,106
1,044,768
1,111,460
1,172,301
1,173,541
1,191,512
1,229,593
1,267,464
1,286,670
1,288,879
1,334,428
1,358,894
1,239,060
1,231,108
1,247,656
1,277,628
1,284,982
1,303,385
1,358,107
1,419,583
1,505,070
1,594,507
1,673,828
1,729,123
1,756,312
1,863,030
1,952,311
2,033,428
1,872,256
1,989,791
2,112,486
2,265,057
2,418,603
2,568,572
2,728,073
2,833,861
2,911,511
2,979,858
3,123,388
3,224,999
3,265,878
3,406,526
3,439,163
3,457,728
3,523,629
3,659,196
3,840,837
4,068,774
4,874,000
5,141,000
5,362,000
5,602,000
5,590,000
5,632,000
5,719,000
5,824,000
5,860,000
5,893,000
5,901,000
5,949,000
6,043,000
6,261,000
6,771,000
7,298,000
7,955,000
8,681,000
9,404,000
9,621,000
9,931,000
10,291,000
10,544,000
10,754,000
10,241,000

10,241,000

10,754,000

10,544,000

10,291,000

9,931,000

9,621,000

9,404,000

8,681,000

7,955,000

7,298,000

6,771,000

6,261,000

6,043,000

5,949,000

5,901,000

5,893,000

5,860,000

5,824,000

5,719,000

5,632,000

5,590,000

5,602,000

5,362,000

5,141,000

4,874,000

4,068,774

3,840,837

3,659,196

3,523,629

3,457,728

3,439,163

3,406,526

3,265,878

3,224,999

3,123,388

2,979,858

2,911,511

2,833,861

2,728,073

2,568,572

2,418,603

2,265,057

2,112,486

1,989,791

1,872,256

2,033,428

1,952,311

1,863,030

1,756,312

1,729,123

1,673,828

1,594,507

1,505,070

1,419,583

1,358,107

1,303,385

1,284,982

1,277,628

1,247,656

1,231,108

1,239,060

1,358,894

1,334,428

1,288,879

1,286,670

1,267,464

1,229,593

1,191,512

1,173,541

1,172,301

1,111,460

1,044,768

994,106

922,036

876,353

829,464

769,397

722,938

490,431

456,000

543,540

443,425

Common Stock

1
0
1
0
495
649
649
650
650
651
651
652
652
652
653
655
655
655
655
655
656
657
657
659
659
660
660
661
661
662
663
666
666
666
666
667
669
670
672
672
673
673
673
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000

1,000

1,347

673

672

670

669

667

666

663

662

661

660

659

657

656

655

653

652

651

650

649

495

Retained Earnings

50,060
0
65,937
240,000
274,425
302,742
348,689
408,451
455,595
497,332
569,164
618,710
684,086
743,135
754,921
771,982
807,254
842,321
857,872
859,978
903,969
927,886
814,873
805,337
818,727
844,699
853,358
867,203
920,341
978,871
1,058,737
1,138,063
1,214,884
1,277,901
1,299,438
1,382,337
1,492,914
1,567,371
1,399,472
1,510,266
1,643,515
1,798,721
1,954,661
2,095,904
2,248,513
2,394,203
2,555,528
2,679,906
2,863,069
3,022,717
3,109,987
3,209,415
3,296,922
3,337,968
3,412,286
3,525,820
3,653,988
3,837,644
4,613,000
4,874,000
5,125,000
5,400,000
5,477,000
5,513,000
5,600,000
5,724,000
5,757,000
5,860,000
5,840,000
5,863,000
5,938,000
6,145,000
6,633,000
7,202,000
7,808,000
8,525,000
9,345,000
9,700,000
9,885,000
10,232,000
10,484,000
10,705,000
10,143,000

10,143,000

10,705,000

10,484,000

10,232,000

9,885,000

9,700,000

9,345,000

8,525,000

7,808,000

7,202,000

6,633,000

6,145,000

5,938,000

5,863,000

5,840,000

5,860,000

5,757,000

5,724,000

5,600,000

5,513,000

5,477,000

5,400,000

5,125,000

4,874,000

4,613,000

3,837,644

3,653,988

3,525,820

3,412,286

3,337,968

3,296,922

3,209,415

3,109,987

3,022,717

2,863,069

2,679,906

2,555,528

2,394,203

2,248,513

2,095,904

1,954,661

1,798,721

1,643,515

1,510,266

1,399,472

1,567,371

1,492,914

1,382,337

1,299,438

1,277,901

1,214,884

1,138,063

1,058,737

978,871

920,341

867,203

853,358

844,699

818,727

805,337

814,873

927,886

903,969

859,978

857,872

842,321

807,254

771,982

754,921

743,135

684,086

618,710

569,164

497,332

455,595

408,451

348,689

302,742

274,425

240,000

65,937

50,060

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
464,426
466,149
467,796
474,408
481,895
486,852
496,254
503,187
506,609
509,295
512,105
519,323
523,526
527,992
530,441
534,542
537,368
540,342
542,148
542,886
545,797
546,519
550,641
552,061
555,478
558,423
555,000
555,000
558,000
562,000
556,000
553,000
558,000
561,000
553,000
551,000
558,000
563,000
569,000
564,000
571,000
576,000
581,000
572,000
582,000
590,000
601,000
590,000
601,000
619,000
0

619,000

601,000

590,000

601,000

590,000

582,000

572,000

581,000

576,000

571,000

564,000

569,000

563,000

558,000

551,000

553,000

561,000

558,000

553,000

556,000

562,000

558,000

555,000

558,423

555,478

552,061

550,641

546,519

545,797

542,886

542,148

540,342

537,368

534,542

530,441

527,992

523,526

519,323

512,105

509,295

506,609

503,187

496,254

486,852

481,895

474,408

467,796

466,149

464,426

Treasury Stock

-463,000

-465,000

-467,000

-439,000

-408,000

-372,000

-399,000

-406,000

-378,000

-379,000

-401,000

-409,000

-411,000

-413,000

-377,000

-396,000

-390,000

-371,000

-382,000

-337,000

-289,000

-292,000

-302,000

-314,694

-316,152

-316,396

-319,339

-319,980

-322,802

-256,459

-258,312

-217,542

-158,472

-98,275

-96,372

-53,248

-45,181

-46,220

-32,711

-26,585

-13,302

-2,518

-2,018

Other Stockholders Equity

0
0
477,602
129,000
205,011
420,218
420,124
420,513
420,513
424,139
424,537
424,580
425,095
426,653
427,893
428,497
429,361
430,402
431,197
432,143
433,272
434,531
435,581
436,902
438,418
440,765
442,469
444,314
446,307
435,508
452,703
462,003
464,426
464,131
465,278
471,890
468,593
473,550
482,952
489,885
480,024
476,584
465,885
473,103
478,345
474,744
434,069
436,267
378,896
322,800
283,836
286,427
222,995
226,539
231,302
235,665
239,326
243,729
253,000
263,000
269,000
225,000
174,000
182,000
168,000
165,000
176,000
138,000
147,000
154,000
168,000
185,000
193,000
170,000
182,000
200,000
174,000
151,000
134,000
125,000
138,000
179,000
195,000

195,000

179,000

138,000

125,000

134,000

151,000

174,000

200,000

182,000

170,000

193,000

185,000

168,000

154,000

147,000

138,000

176,000

165,000

168,000

182,000

174,000

225,000

269,000

263,000

253,000

243,729

239,326

235,665

231,302

226,539

222,995

286,427

283,836

322,800

378,896

436,267

434,069

474,744

478,345

473,103

465,885

476,584

480,024

489,885

482,952

473,550

468,593

471,890

465,278

464,131

464,426

462,003

452,703

435,508

446,307

444,314

442,469

440,765

438,418

436,902

435,581

434,531

433,272

432,143

431,197

430,402

429,361

428,497

427,893

426,653

425,095

424,580

424,537

424,139

420,513

420,124

420,218

205,011

129,000

477,602

Balance Sheet

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31
Accounts Payable	2,491,000	870,000	864,000	529,000	473,000	507,000	600,000	494,743	235,329	261,062	249,613	217,050	227,034	204,774	179,130	112,833	314,951	238,914	199,777	146,890	93,404	68,207	-	0	0
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
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
Accumulated Other Comprehensive Income	-98,000	-89,000	-36,000	-64,000	-74,000	-62,000	7,000	-121,306	-129,292	-79,433	-2,616	-10,840	-9,070	-7,033	-11,505	-12,051	-3,054	-9,926	-246	-65	-1,249	-3,577	-	0	0
Additional Paid In Capital	0	0	0	0	0	0	555,000	550,641	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Capital Lease Obligations	611,000	504,000	461,000	376,000	355,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Capital Stock	1,000	1,000	1,000	1,000	1,000	1,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Capital Surpluse	0	601,000	581,000	569,000	553,000	556,000	555,000	550,641	542,148	530,441	512,105	496,254	467,796	0	0	0	0	0	0	0	0	0	-	0	0
Cash	3,304,000	2,228,000	1,908,000	1,313,000	728,000	753,000	1,531,000	459,453	662,525	880,601	461,301	790,078	825,901	630,299	245,592	90,239	24,914	52,646	237,895	43,396	37,381	11,123	-	11,529	8,617
Cash And Equivalents	0	2,228,000	1,908,000	1,313,000	728,000	753,000	1,531,000	459,453	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Cash And Short Term Investments	3,304,000	2,228,000	1,908,000	1,313,000	728,000	753,000	1,531,000	459,453	1,182,669	880,601	700,689	914,951	825,901	630,299	245,592	90,239	24,914	52,646	237,895	43,396	37,381	11,123	-	11,529	8,617
Common Stock	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,347	1,347	1,347	673	672	666	663	660	657	655	653	651	649	495	495	-	0	0
Common Stock Shares Outstanding	128,598	128,846	128,698	128,089	128,757	129,986	129,540	129,975	132,302	133,643	133,779	133,283	132,600	131,353	132,025	131,248	130,649	130,509	130,502	110,711	98,999	98,999	98,999	98,999	98,999
Common Stock Total Equity	0	1,000	1,000	1,000	1,000	1,000	1,000	1,347	1,347	1,347	673	672	666	663	660	657	655	653	651	649	495	495	-	0	0
Current Deferred Revenue	-1,614,000	1,735,000	0	1,368,000	-119,000	0	0	0	-235,329	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
Deferred Long Term Liab	0	1,735,000	1,681,000	1,368,000	1,255,000	1,159,000	1,111,000	1,650,575	575,603	536,066	437,976	326,290	330,791	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
Good Will	2,041,000	2,161,000	2,024,000	1,083,000	1,074,000	1,002,000	1,012,000	946,553	62,016	62,016	62,016	29,990	29,990	29,990	29,990	29,990	29,990	36,098	0	0	0	0	-	0	0
Intangible Assets	1,403,000	1,565,000	1,580,000	612,000	710,000	659,000	777,000	787,454	151,388	156,415	97,030	18,302	19,073	22,113	26,547	31,156	34,685	38,974	17,062	17,903	0	0	-	0	0
Inventory	1,622,000	1,866,000	1,407,000	918,000	936,000	1,014,000	900,000	801,100	434,060	525,776	471,879	399,298	490,777	450,028	369,417	327,967	527,871	456,276	339,870	319,816	180,760	170,866	-	0	0
Liabilities And Stockholders Equity	21,035,000	20,550,000	18,459,000	13,835,000	13,261,000	11,602,000	12,076,000	10,890,253	5,575,252	5,213,990	4,060,909	3,412,196	3,266,821	2,954,144	2,446,356	2,286,989	2,569,335	2,082,098	1,827,189	1,592,453	1,370,113	1,309,245	-	1,374,645	1,344,857
Long Term Debt	4,607,000	4,879,000	4,911,000	3,566,000	3,445,000	2,668,000	3,127,000	3,678,654	764,115	763,997	763,879	763,761	764,563	764,482	515,400	510,319	511,414	260,156	265,689	296,889	509,089	491,677	-	0	0
Long Term Debt Total	0	4,879,000	4,911,000	3,566,000	3,445,000	2,668,000	3,127,000	3,678,654	764,115	763,997	763,879	763,761	764,563	0	0	0	0	0	0	0	0	0	-	0	0
Long Term Investments	1,115,000	1,142,000	1,007,000	1,059,000	1,112,000	253,000	0	130,460	9,208	61,305	66,875	43,736	46,741	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
Net Debt	1,602,000	2,651,000	3,272,000	2,253,000	2,717,000	1,915,000	2,306,000	3,368,542	101,590	-116,604	302,578	-26,317	-61,338	134,183	269,808	420,080	486,500	207,510	28,994	254,693	499,908	522,227	-	-11,529	-8,617
Net Invested Capital	15,147,000	14,810,000	13,135,000	9,609,000	9,305,000	8,258,000	8,711,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Net Receivables	1,601,000	1,801,000	1,868,000	1,214,000	1,036,000	1,037,000	1,001,000	938,743	508,532	560,666	428,457	400,159	407,372	362,863	339,796	347,323	507,463	308,903	302,779	234,247	178,633	123,235	-	0	0
Net Tangible Assets	0	6,205,000	4,351,000	4,792,000	4,076,000	3,929,000	3,085,000	2,577,076	3,265,878	2,911,511	2,418,603	1,823,964	1,756,312	0	0	0	0	0	0	0	0	0	-	0	0
Net Working Capital	3,819,000	3,675,000	2,919,000	2,120,000	1,501,000	1,659,000	1,496,000	1,225,233	1,652,547	1,474,107	1,244,224	1,352,903	1,391,561	1,152,382	701,812	586,701	650,923	527,875	597,014	421,723	197,715	158,993	-	0	0
Non Current Assets Total	14,426,000	14,577,000	13,196,000	10,358,000	10,519,000	8,760,000	8,613,000	8,481,937	3,400,063	3,202,703	2,411,827	1,660,783	1,510,665	1,478,184	1,457,978	1,488,000	1,477,150	1,232,311	924,326	920,515	957,266	972,672	-	0	0
Non Current Liabilities Other	340,000	1,173,000	995,000	966,000	917,000	516,000	502,000	485,896	150,961	174,859	35,593	51,379	50,560	0	0	0	0	0	0	0	0	0	-	0	0
Non Current Liabilities Total	7,481,000	7,787,000	7,587,000	5,900,000	5,617,000	4,343,000	4,740,000	5,815,125	1,490,679	1,474,922	1,237,448	1,141,430	1,145,914	1,125,496	874,808	835,641	841,403	586,645	527,234	572,841	687,278	681,046	-	0	0
Non Currrent Assets Other	-212,000	-551,000	5,590,000	3,438,000	3,607,000	2,165,000	2,201,000	184,882	38,530	60,412	63,723	36,402	133,071	192,145	146,706	172,673	286,263	80,336	48,081	-327	69,499	61,798	-	0	0
Noncontrolling Interest In Consolidated Entity	0	534,000	573,000	535,000	543,000	486,000	495,000	368,416	296,053	290,377	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Other Assets	0	569,000	5,590,000	2,187,000	268,000	251,000	412,000	328,000	116,083	91,824	96,867	57,515	150,299	205,858	167,676	193,766	251,248	48,425	18,461	24,378	44,024	26,875	-	0	0
Other Current Assets	82,000	78,000	80,000	32,000	42,000	38,000	30,000	48,493	49,928	44,244	48,057	37,005	32,106	32,770	33,573	33,460	31,937	31,962	22,319	74,479	16,073	31,349	-	0	0
Other Current Liab	1,614,000	-426,000	1,211,000	821,000	768,000	676,000	657,000	538,999	287,313	276,118	155,245	181,460	137,561	118,804	107,436	99,455	126,311	82,998	104,872	102,125	93,528	67,700	-	0	0
Other Liab	0	2,404,000	2,676,000	2,334,000	1,804,000	1,675,000	1,613,000	2,136,000	726,564	173,185	35,593	51,379	50,560	45,496	49,790	44,836	42,024	44,661	40,457	40,791	23,104	23,541	-	0	0
Other Stockholder Equity	195,000	134,000	182,000	168,000	176,000	174,000	253,000	231,302	283,836	434,069	465,885	482,952	465,278	452,703	442,469	435,581	431,197	427,893	424,537	420,124	205,011	205,011	-	0	0
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	89,000	89,000	-	0	0
Property Plant And Equipment Gross	14,456,000	13,838,000	12,302,000	6,920,000	7,355,000	6,595,000	6,412,000	6,420,062	3,004,067	2,757,557	2,088,014	1,510,048	1,232,066	1,170,334	1,194,311	1,197,452	1,126,212	1,076,903	863,232	855,052	879,688	910,874	-	0	0
Property Plant And Equipment Net	8,519,000	8,525,000	7,606,000	6,920,000	6,912,000	6,595,000	6,412,000	6,420,062	3,004,067	2,757,557	2,088,014	1,510,048	1,232,066	1,170,334	1,194,311	1,197,452	1,126,212	1,076,903	863,232	855,052	879,688	910,874	-	0	0
Property Plant Equipment	0	8,525,000	7,606,000	6,920,000	6,912,000	6,595,000	6,412,000	6,420,062	3,004,067	2,757,557	2,088,014	1,510,048	1,232,066	1,170,334	1,194,311	1,197,452	1,126,212	1,076,903	863,232	855,052	905,068	935,463	-	0	0
Retained Earnings	10,143,000	9,885,000	7,808,000	5,938,000	5,757,000	5,477,000	4,613,000	3,412,286	3,109,987	2,555,528	1,954,661	1,399,472	1,299,438	1,058,737	853,358	814,873	857,872	754,921	569,164	348,689	229,346	214,590	-	0	0
Retained Earnings Total Equity	0	9,885,000	7,808,000	5,938,000	5,757,000	5,477,000	4,613,000	3,412,286	3,109,987	2,555,528	1,954,661	1,399,472	1,299,438	0	0	0	0	0	0	0	0	0	-	0	0
Short Long Term Debt	299,000	0	269,000	7,000	0	0	710,000	149,341	764,258	763,997	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Short Long Term Debt Total	4,906,000	4,879,000	5,180,000	3,566,000	3,445,000	2,668,000	3,837,000	3,827,995	764,115	763,997	763,879	763,761	764,563	764,482	515,400	510,319	511,414	260,156	266,889	298,089	537,289	533,350	-	0	0
Short Term Debt	299,000	119,000	269,000	7,000	119,000	0	710,000	149,341	235,329	763,997	0	0	0	0	0	0	0	0	1,200	1,200	28,200	41,673	-	0	0
Short Term Investments	0	0	0	1,059,000	0	0	1,000	0	520,144	0	239,388	124,873	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
Total Assets	21,035,000	20,550,000	18,459,000	13,835,000	13,261,000	11,602,000	12,076,000	10,890,253	5,575,252	5,213,990	4,060,909	3,412,196	3,266,821	2,954,144	2,446,356	2,286,989	2,569,335	2,082,098	1,827,189	1,592,453	1,370,113	1,309,245	-	1,374,645	1,344,857
Total Current Assets	6,609,000	5,973,000	5,263,000	3,477,000	2,742,000	2,842,000	3,463,000	2,408,316	2,175,189	2,011,287	1,649,082	1,751,413	1,756,156	1,475,960	988,378	798,989	1,092,185	849,787	902,863	671,938	412,847	336,573	-	11,529	8,617
Total Current Liabilities	2,790,000	2,298,000	2,344,000	1,357,000	1,241,000	1,183,000	1,967,000	1,183,083	522,642	537,180	404,858	398,510	364,595	323,578	286,566	212,288	441,262	321,912	305,849	250,215	215,132	177,580	-	0	0
Total Liab	10,271,000	10,085,000	9,931,000	7,257,000	6,858,000	5,526,000	6,707,000	6,998,208	2,013,321	2,012,102	1,642,306	1,539,940	1,510,509	1,449,074	1,161,374	1,047,929	1,282,665	908,557	833,083	823,056	902,410	858,626	-	0	0
Total Permanent Equity	0	0	0	0	0	0	5,369,000	3,892,045	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Total Stockholder Equity	10,241,000	9,931,000	7,955,000	6,043,000	5,860,000	5,590,000	4,874,000	3,523,629	3,265,878	2,911,511	2,418,603	1,872,256	1,756,312	1,505,070	1,284,982	1,239,060	1,286,670	1,173,541	994,106	769,397	445,603	428,519	-	504,203	433,023
Treasury Stock	0	-467,000	-399,000	-401,000	-377,000	-382,000	-302,000	-319,339	-258,312	-96,372	-46,220	-13,302	-2,518	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

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-06-30	2002-12-31
Accounts Payable	2,491,000	811,000	785,000	828,000	870,000	992,000	1,138,000	1,011,000	864,000	704,000	630,000	569,000	529,000	446,000	441,000	430,000	473,000	479,000	495,000	526,000	507,000	626,000	582,000	596,000	600,000	560,804	582,805	541,932	494,743	502,378	305,853	256,351	235,329	237,622	263,803	247,493	261,062	263,365	219,600	211,952	249,613	258,067	247,007	232,061	217,050	199,438	208,309	197,449	227,034	196,393	223,666	185,274	204,774	148,908	182,307	195,413	179,130	162,083	145,607	132,904	112,833	275,896	342,911	260,058	314,951	266,820	260,271	220,462	238,914	145,033	186,394	150,717	199,777	136,176	143,598	168,081	146,890	121,692	95,030	94,000	93,404	0	68,207
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Other Comprehensive Income	-98,000	-131,000	-79,000	-67,000	-89,000	-231,000	-116,000	-45,000	-36,000	-75,000	-56,000	-70,000	-64,000	-69,000	-87,000	-106,000	-74,000	-66,000	-50,000	-64,000	-62,000	-24,000	-33,000	3,000	7,000	-13,946	-53,824	-103,636	-121,306	-108,126	-82,101	-90,663	-129,292	-121,865	-119,924	-137,662	-79,433	-36,433	-132	-1,782	-2,616	-10,921	-11,726	-11,032	-10,840	-8,163	-9,865	8,136	-9,070	-13,575	-6,148	-6,225	-7,033	4,542	-9,202	-8,793	-11,505	-8,496	-10,148	-11,790	-12,051	-4,180	-3,469	-3,897	-3,054	-5,914	-7,677	-9,622	-9,926	1,861	1,627	826	-246	-86	-405	-150	-65	-671	-1,500	-2,000	0	0	0
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	562,000	558,000	555,000	555,000	558,423	555,478	552,061	550,641	546,519	545,797	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	611,000	542,000	536,000	531,000	504,000	474,000	494,000	514,000	461,000	392,000	369,000	383,000	376,000	373,000	372,000	346,000	355,000	330,000	294,000	311,000	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	0	0
Capital Stock	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	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	0	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	0	619,000	601,000	590,000	601,000	590,000	582,000	572,000	581,000	576,000	571,000	564,000	569,000	563,000	558,000	551,000	553,000	561,000	558,000	553,000	556,000	562,000	558,000	555,000	555,000	558,423	555,478	552,061	550,641	546,519	545,797	542,886	542,148	540,342	537,368	534,542	530,441	527,992	523,526	519,323	512,105	509,295	506,609	503,187	496,254	486,852	481,895	474,408	467,796	466,149	464,426	0	0	0	0	0	0	0	0	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	3,304,000	3,057,000	2,677,000	2,414,000	2,228,000	1,778,000	1,317,000	1,055,000	1,908,000	3,571,000	1,844,000	1,393,000	1,313,000	1,217,000	1,109,000	1,537,000	728,000	1,437,000	409,000	445,000	753,000	788,000	482,000	851,000	1,531,000	678,233	395,776	372,591	459,453	380,519	770,997	614,976	662,525	961,925	1,026,569	945,649	880,601	813,468	876,067	532,643	461,301	591,556	625,501	777,887	790,078	1,198,468	1,110,538	895,142	825,901	758,939	712,322	654,503	630,299	428,333	288,805	185,263	245,592	252,873	204,007	179,343	90,239	22,452	22,462	7,846	24,914	139,259	42,615	13,325	52,646	202,824	275,615	236,366	237,895	123,348	109,673	46,635	43,396	50,984	57,376	37,000	37,371	0	10,074
Cash And Equivalents	0	3,057,000	2,677,000	2,414,000	2,228,000	1,778,000	1,317,000	1,055,000	1,908,000	3,571,000	1,844,000	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	0	0	0	0	0	0	0	0	0	0	0
Cash And Short Term Investments	3,304,000	3,057,000	2,677,000	2,414,000	2,228,000	1,778,000	1,317,000	1,055,000	1,908,000	3,571,000	1,844,000	1,393,000	1,313,000	1,217,000	1,109,000	1,537,000	728,000	1,437,000	409,000	445,000	753,000	788,000	482,000	851,000	1,531,000	678,233	395,776	372,591	459,453	380,519	1,123,018	1,139,984	1,182,669	1,247,651	1,026,569	945,649	880,601	813,468	876,067	776,337	700,689	717,153	655,470	872,790	914,951	1,198,468	1,110,538	895,142	825,901	758,939	712,322	654,503	630,299	428,333	288,805	185,263	245,592	252,873	204,007	179,343	90,239	22,452	22,462	7,846	24,914	139,259	42,615	13,325	52,646	303,099	275,615	236,366	237,895	123,348	109,673	46,635	43,396	50,984	57,376	37,018	37,371	0	0
Common Stock	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,347	1,347	1,347	1,347	1,347	1,347	1,347	1,347	1,347	1,347	1,347	1,347	1,347	1,347	1,347	673	673	673	672	672	670	669	667	666	666	666	666	663	662	661	661	660	660	659	659	657	657	656	655	655	655	655	655	653	652	652	652	651	651	650	650	649	649	495	0	1	0	1
Common Stock Shares Outstanding	128,166	128,584	128,484	128,459	128,376	128,747	129,341	128,925	128,674	128,766	128,878	128,483	129,885	127,954	127,824	128,443	128,571	128,552	128,850	128,914	129,474	130,052	130,307	130,191	130,407	129,889	129,787	129,692	130,191	129,380	129,981	130,601	132,106	132,121	133,045	133,205	133,789	133,846	133,768	133,613	134,624	133,811	133,791	133,818	134,193	133,314	133,298	133,117	134,066	132,764	132,850	132,226	132,226	131,356	131,214	131,046	132,334	132,194	131,966	131,595	131,595	131,354	130,593	130,578	130,578	130,651	130,649	130,649	130,649	130,476	130,472	130,462	130,462	130,523	130,407	130,584	130,584	114,055	98,999	99,000	0	99,659	0
Common Stock Total Equity	0	0	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,347	1,347	1,347	1,347	1,347	1,347	1,347	1,347	1,347	1,347	1,347	1,347	1,347	1,347	1,347	673	673	673	672	672	670	669	667	666	666	666	666	663	662	661	661	660	660	659	659	657	657	656	655	655	655	655	655	653	652	652	652	651	651	650	650	649	649	495	0	0	0	0
Current Deferred Revenue	-1,490,000	0	14,000	0	1,735,000	1,803,000	1,843,000	0	1,681,000	0	0	0	1,368,000	-1,000	-3,000	0	1,255,000	0	0	0	1,159,000	0	0	0	1,111,000	0	0	0	1,650,575	0	0	0	35,439	0	0	0	32,437	0	0	0	34,169	0	0	0	22,305	0	0	0	19,611	0	0	0	17,288	0	0	0	26,499	0	0	0	26,622	0	0	0	17,705	0	0	0	15,876	0	0	0	13,013	0	0	0	65,790	0	0	8,079	8,079	0	0
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Liab	0	413,000	1,692,000	1,716,000	1,735,000	1,803,000	1,843,000	1,815,000	1,681,000	1,445,000	1,396,000	1,385,000	1,368,000	1,403,000	1,354,000	1,386,000	1,255,000	1,230,000	1,206,000	1,199,000	1,159,000	1,184,000	1,153,000	1,125,000	1,111,000	1,660,914	1,648,529	1,649,120	1,650,575	1,607,084	664,987	609,752	575,603	534,824	532,344	534,679	536,066	513,773	458,790	447,203	437,976	410,166	386,789	355,975	326,290	335,394	337,162	340,953	330,791	335,347	331,853	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Good Will	2,041,000	2,161,000	2,167,000	2,167,000	2,161,000	2,143,000	2,139,000	2,140,000	2,024,000	1,253,000	1,085,000	1,082,000	1,083,000	1,075,000	1,070,000	1,065,000	1,074,000	1,069,000	1,079,000	1,047,000	1,002,000	1,008,000	1,006,000	1,010,000	1,012,000	1,011,342	999,614	950,681	946,553	925,700	62,016	62,016	62,016	62,016	62,016	62,016	62,016	62,016	62,016	62,016	62,016	0	0	0	29,990	0	0	0	29,990	0	0	0	29,990	0	0	0	29,990	0	0	0	29,990	0	0	0	29,990	0	0	0	36,098	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Intangible Assets	1,403,000	538,000	1,507,000	565,000	1,565,000	1,575,000	1,640,000	1,692,000	1,580,000	668,000	553,000	579,000	612,000	632,000	653,000	677,000	710,000	732,000	763,000	751,000	659,000	691,000	718,000	754,000	777,000	802,050	824,083	769,338	787,454	790,202	208,376	213,508	151,388	218,652	213,968	207,254	156,415	222,728	155,394	157,086	97,030	159,376	161,324	48,108	18,302	0	0	0	19,073	0	0	0	22,113	0	0	0	26,547	0	0	0	31,156	0	0	0	34,685	0	0	0	38,974	0	0	0	17,062	0	0	0	17,903	0	0	0	0	0	0
Inventory	1,622,000	1,672,000	1,671,000	1,842,000	1,866,000	2,024,000	2,021,000	1,884,000	1,407,000	1,124,000	965,000	955,000	918,000	829,000	845,000	934,000	936,000	906,000	925,000	1,021,000	1,014,000	939,000	905,000	944,000	900,000	834,835	831,700	821,708	801,100	744,536	448,526	478,656	434,060	430,006	486,297	480,380	525,776	500,552	437,519	439,009	471,879	451,571	427,139	408,074	399,298	371,537	407,124	422,405	490,777	466,248	508,198	446,257	450,028	355,803	370,025	398,412	369,417	312,029	286,767	283,873	327,967	491,185	514,462	532,051	527,871	466,399	464,519	417,651	456,276	312,928	343,093	339,589	339,870	286,588	308,194	318,181	319,816	249,359	232,927	198,000	180,760	0	170,866
Liabilities And Stockholders Equity	21,035,000	21,396,000	20,981,000	20,806,000	20,550,000	20,425,000	20,372,000	19,741,000	18,459,000	17,108,000	14,719,000	14,050,000	13,835,000	13,694,000	13,555,000	14,163,000	13,261,000	13,107,000	12,216,000	12,104,000	11,602,000	11,721,000	11,346,000	11,604,000	12,076,000	11,244,125	10,885,707	10,724,830	10,890,253	10,897,049	5,920,564	5,724,401	5,575,252	5,524,405	5,411,010	5,179,785	5,213,990	5,126,283	4,369,369	4,171,956	4,060,909	3,923,449	3,708,335	3,559,225	3,412,196	3,544,174	3,441,938	3,330,047	3,266,821	3,207,179	3,147,800	3,006,868	2,954,144	2,667,935	2,544,137	2,466,955	2,446,356	2,411,413	2,334,844	2,288,220	2,286,989	2,596,811	2,685,972	2,526,322	2,569,335	2,314,846	2,172,380	2,110,481	2,082,098	1,972,102	1,942,363	1,817,455	1,827,189	1,703,799	1,647,969	1,628,309	1,592,453	1,505,866	1,441,909	1,375,000	1,385,938	0	0
Long Term Debt	4,607,000	4,574,000	4,894,000	4,892,000	4,879,000	4,813,000	4,858,000	4,902,000	4,911,000	4,929,000	3,555,000	3,547,000	3,566,000	3,681,000	3,745,000	4,432,000	3,445,000	3,424,000	2,669,000	2,669,000	2,668,000	2,667,000	2,666,000	2,666,000	3,127,000	3,349,402	3,489,900	3,601,642	3,678,654	3,680,585	758,453	758,300	764,115	764,086	764,056	764,027	763,997	763,968	763,938	763,909	763,879	763,849	763,820	763,790	763,761	763,731	764,604	764,583	764,563	764,543	764,522	764,502	764,482	610,461	515,441	515,420	515,400	515,380	510,359	510,339	510,319	515,948	549,438	554,807	511,414	335,217	260,196	280,876	260,156	260,135	260,115	260,094	265,689	265,989	266,289	266,589	296,889	347,415	508,489	508,789	509,089	0	491,677
Long Term Debt Total	0	4,574,000	4,894,000	4,892,000	4,879,000	4,813,000	4,858,000	4,902,000	4,911,000	4,929,000	3,555,000	3,547,000	3,566,000	3,681,000	3,745,000	4,432,000	3,445,000	3,424,000	2,669,000	2,669,000	2,668,000	2,667,000	2,666,000	2,666,000	3,127,000	3,349,402	3,489,900	3,601,642	3,678,654	3,680,585	758,453	0	764,115	764,086	764,056	764,027	763,997	763,968	763,938	763,909	763,879	763,849	763,820	763,790	763,761	763,731	764,604	764,583	764,563	764,543	764,522	0	0	0	0	0	0	0	0	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	1,115,000	1,117,000	1,120,000	1,131,000	1,142,000	1,147,000	1,143,000	1,105,000	1,007,000	1,010,000	1,009,000	1,029,000	1,059,000	1,046,000	1,052,000	1,065,000	1,112,000	227,000	225,000	225,000	0	0	0	0	0	0	0	0	48,081	48,081	8,929	9,431	9,208	9,593	37,746	64,721	61,305	70,828	68,867	67,560	66,875	65,488	48,480	43,914	43,736	44,174	44,815	46,039	46,741	47,280	47,113	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Debt	1,602,000	1,816,000	2,217,000	2,478,000	2,651,000	3,517,000	3,551,000	4,111,000	3,272,000	1,626,000	2,117,000	2,154,000	2,253,000	2,464,000	3,011,000	2,895,000	2,717,000	1,987,000	2,580,000	2,557,000	1,915,000	1,879,000	2,184,000	2,276,000	2,306,000	2,671,169	3,094,828	3,229,051	3,368,542	3,448,747	-12,544	143,324	101,590	-197,839	-262,513	-181,622	-116,604	-49,500	-112,129	231,266	302,578	172,293	138,319	-14,097	-26,317	-434,737	-345,934	-130,559	-61,338	5,604	52,200	109,999	134,183	182,128	226,636	330,157	269,808	262,507	306,352	330,996	420,080	493,496	526,976	546,961	486,500	195,958	217,581	267,551	207,510	57,311	-15,500	23,728	28,994	143,841	157,816	221,154	254,693	297,405	479,313	500,000	472,918	0	0
Net Invested Capital	15,147,000	15,627,000	15,438,000	15,183,000	14,810,000	14,442,000	14,272,000	13,847,000	13,135,000	12,495,000	10,363,000	9,808,000	9,609,000	9,630,000	9,646,000	10,325,000	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	0	0	0	0	0	0
Net Receivables	1,601,000	1,939,000	1,855,000	1,835,000	1,801,000	2,181,000	2,535,000	2,352,000	1,868,000	1,642,000	1,549,000	1,327,000	1,214,000	1,293,000	1,160,000	1,265,000	1,036,000	1,094,000	1,213,000	1,121,000	1,037,000	1,241,000	1,261,000	1,135,000	1,001,000	1,142,979	1,095,808	1,003,966	938,743	1,070,501	582,855	549,037	508,532	520,960	600,722	527,127	560,666	592,964	454,281	421,879	428,457	433,025	475,638	407,580	400,159	393,592	418,000	444,609	407,372	462,470	430,301	409,420	362,863	362,438	427,919	405,288	339,796	343,406	321,738	281,011	347,323	562,804	641,504	464,383	507,463	436,327	399,832	423,630	308,903	335,063	323,009	277,268	302,779	356,034	256,128	286,129	234,247	248,462	198,361	177,000	178,639	0	0
Net Tangible Assets	0	7,122,000	6,870,000	6,585,000	6,205,000	5,903,000	5,625,000	4,849,000	7,955,000	7,298,000	5,133,000	4,600,000	4,792,000	4,242,000	4,178,000	4,151,000	4,076,000	4,023,000	3,877,000	3,834,000	3,929,000	3,903,000	3,638,000	3,377,000	3,085,000	4,068,774	3,840,837	3,659,196	2,577,076	3,457,728	3,230,787	3,406,526	3,265,878	3,224,999	3,123,388	2,979,858	2,911,511	2,833,861	2,728,073	2,568,572	2,418,603	2,265,057	2,112,486	1,989,791	1,823,964	2,033,428	1,952,311	1,863,030	1,756,312	1,729,123	1,673,828	0	0	0	0	0	0	0	0	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	3,819,000	4,098,000	4,165,000	3,987,000	3,675,000	3,640,000	3,500,000	2,855,000	2,919,000	4,537,000	2,960,000	2,408,000	2,120,000	2,163,000	2,056,000	2,744,000	1,501,000	2,244,000	1,341,000	1,401,000	1,659,000	1,703,000	1,508,000	1,306,000	1,496,000	1,529,257	1,346,714	1,307,857	1,225,233	1,215,094	1,569,940	1,685,573	1,652,547	1,713,543	1,631,582	1,548,955	1,474,107	1,378,912	1,435,574	1,327,329	1,244,224	1,210,165	1,206,667	1,325,463	1,352,903	1,634,998	1,632,693	1,483,913	1,391,561	1,384,691	1,358,897	1,263,980	1,152,382	907,246	826,169	737,969	701,812	681,716	588,710	568,979	586,701	715,821	752,499	682,248	650,923	698,925	598,312	574,392	527,875	703,689	665,044	630,460	597,014	519,044	489,199	450,124	421,723	346,012	289,453	223,000	232,788	0	0
Non Current Assets Total	14,426,000	14,639,000	14,685,000	14,660,000	14,577,000	14,324,000	14,359,000	14,336,000	13,196,000	10,673,000	10,274,000	10,316,000	10,358,000	10,313,000	10,390,000	10,395,000	10,519,000	9,625,000	9,621,000	9,477,000	8,760,000	8,717,000	8,652,000	8,645,000	8,613,000	8,544,592	8,508,072	8,473,542	8,481,937	8,477,305	3,730,523	3,532,667	3,400,063	3,275,975	3,244,770	3,177,623	3,202,703	3,174,335	2,546,866	2,484,693	2,411,827	2,280,598	2,107,212	1,833,947	1,660,783	1,546,369	1,471,168	1,534,171	1,510,665	1,490,926	1,459,271	1,465,517	1,478,184	1,486,985	1,413,044	1,439,322	1,457,978	1,466,029	1,484,535	1,507,082	1,488,000	1,489,201	1,468,472	1,493,363	1,477,150	1,248,571	1,235,045	1,229,537	1,232,311	998,460	976,228	942,126	924,326	914,061	922,369	916,227	920,515	940,493	933,246	948,000	973,095	0	0
Non Current Liabilities Other	340,000	2,878,000	1,187,000	1,211,000	1,173,000	1,160,000	1,184,000	3,037,000	995,000	967,000	202,000	967,000	966,000	904,000	910,000	883,000	917,000	853,000	828,000	825,000	516,000	481,000	495,000	519,000	502,000	512,034	507,314	497,805	485,896	580,593	139,587	904,086	150,961	170,770	162,777	157,130	174,859	153,158	31,639	32,338	35,593	51,691	50,784	49,854	51,379	48,814	49,784	49,518	50,560	46,604	47,965	0	0	0	0	0	0	0	0	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	7,481,000	7,452,000	7,773,000	7,819,000	7,787,000	7,776,000	7,885,000	7,939,000	7,587,000	7,341,000	5,895,000	5,899,000	5,900,000	5,988,000	6,009,000	6,701,000	5,617,000	5,507,000	4,703,000	4,693,000	4,343,000	4,332,000	4,314,000	4,310,000	4,740,000	5,522,350	5,645,743	5,748,567	5,815,125	5,868,262	1,563,027	1,513,838	1,490,679	1,469,680	1,459,177	1,455,836	1,474,922	1,430,899	1,254,367	1,243,450	1,237,448	1,225,706	1,201,393	1,169,619	1,141,430	1,147,939	1,151,550	1,155,054	1,145,914	1,146,494	1,144,340	1,134,990	1,125,496	974,648	881,106	873,906	874,808	870,117	825,589	844,953	835,641	846,128	886,543	886,732	841,403	680,032	603,764	612,417	586,645	529,848	529,812	527,818	527,234	511,069	535,215	536,887	572,841	563,567	710,168	715,000	662,343	0	0
Non Currrent Assets Other	5,907,000	573,000	-351,000	563,000	1,184,000	-1,228,000	-709,000	-692,000	5,590,000	-695,000	-1,140,000	-680,000	3,438,000	-696,000	-1,088,000	-681,000	3,607,000	2,783,000	566,000	559,000	251,000	499,000	460,000	434,000	412,000	387,563	367,644	2,080,797	184,882	2,026,358	-382,292	-414,845	395,996	99,559	107,914	123,174	445,146	144,224	71,388	75,246	323,813	80,523	89,731	90,318	150,735	107,997	161,416	270,615	109,107	295,418	279,573	245,533	205,858	287,692	240,412	255,977	167,676	280,019	283,577	264,464	193,766	290,053	291,037	332,448	256,777	131,886	132,449	137,291	80,336	75,888	62,397	50,869	61,094	41,468	17,551	8,356	65,463	60,097	65,127	-83,000	68,027	0	0
Noncontrolling Interest In Consolidated Entity	0	0	533,000	537,000	534,000	567,000	570,000	571,000	573,000	571,000	568,000	564,000	535,000	539,000	536,000	545,000	543,000	538,000	540,000	553,000	486,000	486,000	484,000	500,000	495,000	482,725	368,206	373,636	368,416	366,409	298,273	297,876	296,053	294,839	293,787	290,884	290,377	288,487	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	669,000	697,000	662,000	569,000	575,000	6,056,000	492,000	5,590,000	3,681,000	256,000	3,395,000	2,187,000	247,000	266,000	273,000	268,000	338,000	341,000	559,000	504,000	499,000	460,000	434,000	2,201,000	2,200,955	2,191,341	2,080,797	2,061,875	2,026,358	500,000	417,846	395,996	359,345	389,262	426,137	445,146	463,860	329,817	334,050	323,813	327,680	321,638	204,638	150,735	152,171	161,416	270,615	278,599	295,418	279,573	292,332	307,850	321,575	240,412	255,977	263,667	280,019	283,577	296,334	290,548	307,629	308,673	350,139	350,938	148,960	148,172	153,173	155,408	88,928	75,437	63,880	61,094	58,215	60,550	62,355	65,463	68,176	64,973	67,778	68,027	0	51,118
Other Current Assets	82,000	89,000	93,000	55,000	78,000	118,000	140,000	114,000	80,000	98,000	87,000	59,000	32,000	42,000	51,000	32,000	42,000	45,000	48,000	40,000	38,000	36,000	46,000	29,000	30,000	34,860	45,744	43,695	48,493	54,868	35,642	24,057	49,928	49,813	52,652	49,006	44,244	44,964	54,636	50,038	48,057	18,809	42,876	36,834	37,005	34,208	35,108	33,720	32,106	28,596	37,708	31,171	32,770	34,376	44,344	38,670	33,573	37,076	37,797	36,911	33,460	31,169	39,072	28,679	31,937	24,290	30,369	26,338	31,962	22,552	24,418	22,106	22,319	23,768	51,605	61,137	74,479	16,568	19,999	14,982	16,073	0	31,298
Other Current Liab	1,490,000	1,549,000	1,329,000	1,329,000	-426,000	-342,000	-478,000	1,275,000	-470,000	926,000	818,000	723,000	-547,000	772,000	668,000	593,000	768,000	742,000	733,000	678,000	676,000	675,000	604,000	596,000	-454,000	609,472	447,412	400,310	-1,111,576	553,591	312,985	248,777	16,545	290,115	251,680	205,714	276,118	309,671	167,329	147,982	155,245	174,619	147,449	167,754	181,460	163,369	129,768	114,514	137,561	135,169	105,966	92,097	118,804	124,796	122,617	94,251	107,436	101,585	115,992	79,255	99,455	115,893	122,090	90,653	126,311	100,530	78,752	86,090	82,998	124,920	114,697	94,152	91,859	133,318	91,603	92,677	36,335	96,469	95,980	100,721	77,372	0	65,502
Other Liab	0	2,336,000	2,343,000	0	2,404,000	2,489,000	3,027,000	2,523,000	2,676,000	2,412,000	1,971,000	2,352,000	2,334,000	1,934,000	1,892,000	1,923,000	1,804,000	1,753,000	1,740,000	1,713,000	1,675,000	1,665,000	1,648,000	1,644,000	502,000	512,034	507,314	497,805	485,896	580,593	139,587	145,786	150,961	170,770	162,777	157,130	173,185	153,158	31,639	32,338	35,593	51,691	50,784	49,854	51,379	48,814	49,784	49,518	50,560	46,604	47,965	47,347	45,496	49,121	49,513	47,953	49,790	45,441	45,383	45,217	44,836	39,003	39,914	42,731	42,024	48,162	47,367	45,918	44,661	38,956	37,725	42,057	40,457	35,450	33,799	35,657	40,791	40,785	24,097	23,565	23,104	0	23,541
Other Stockholder Equity	195,000	179,000	138,000	125,000	134,000	151,000	174,000	200,000	182,000	170,000	193,000	185,000	168,000	154,000	147,000	138,000	176,000	165,000	168,000	182,000	174,000	225,000	269,000	263,000	253,000	243,729	239,326	235,665	231,302	226,539	222,995	286,427	283,836	322,800	378,896	436,267	434,069	474,744	478,345	473,103	465,885	476,584	480,024	489,885	482,952	473,550	468,593	471,890	465,278	464,131	464,426	462,003	452,703	435,508	446,307	444,314	442,469	440,765	438,418	436,902	435,581	434,531	433,272	432,143	431,197	430,402	429,361	428,497	427,893	426,653	425,095	424,580	424,537	424,139	420,513	420,513	420,124	420,218	205,011	129,000	477,602	0	0
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	89,000	89,000	89,000	0	89,000
Property Plant And Equipment Gross	14,456,000	9,221,000	9,194,000	9,161,000	13,838,000	8,884,000	0	0	0	0	7,371,000	7,388,000	6,920,000	7,313,000	7,349,000	7,315,000	7,355,000	7,259,000	7,213,000	7,120,000	6,595,000	6,519,000	6,468,000	6,447,000	6,412,000	6,343,637	6,316,731	6,392,745	6,420,062	6,450,947	3,230,523	3,114,821	3,004,067	2,916,630	2,855,508	2,751,486	2,757,557	2,710,475	2,217,049	2,150,643	2,088,014	1,952,918	1,785,574	1,629,309	1,510,048	1,394,198	1,309,752	1,263,556	1,232,066	1,195,508	1,179,698	1,173,185	1,170,334	1,165,410	1,172,632	1,183,345	1,194,311	1,186,010	1,200,958	1,210,748	1,197,452	1,181,572	1,159,799	1,143,224	1,126,212	1,099,611	1,086,873	1,076,364	1,076,903	909,532	900,791	878,246	863,232	855,846	861,819	853,872	855,052	872,317	860,040	871,000	0	0	0
Property Plant And Equipment Net	8,519,000	8,570,000	8,550,000	8,518,000	8,525,000	8,884,000	8,303,000	8,276,000	7,606,000	6,992,000	7,371,000	6,921,000	6,920,000	6,853,000	7,349,000	6,883,000	6,912,000	6,842,000	7,213,000	7,120,000	6,595,000	6,519,000	6,468,000	6,447,000	6,412,000	6,343,637	6,316,731	6,392,745	6,420,062	6,450,947	3,230,523	3,114,821	3,004,067	2,916,630	2,855,508	2,751,486	2,757,557	2,710,475	2,217,049	2,150,643	2,088,014	1,952,918	1,785,574	1,629,309	1,510,048	1,394,198	1,309,752	1,263,556	1,232,066	1,195,508	1,179,698	1,173,185	1,170,334	1,165,410	1,172,632	1,183,345	1,194,311	1,186,010	1,200,958	1,210,748	1,197,452	1,181,572	1,159,799	1,143,224	1,126,212	1,099,611	1,086,873	1,076,364	1,076,903	909,532	900,791	878,246	863,232	855,846	861,819	853,872	855,052	872,317	860,040	871,000	905,068	0	0
Property Plant Equipment	0	9,221,000	8,550,000	8,518,000	8,525,000	8,301,000	8,303,000	8,276,000	7,606,000	6,992,000	7,371,000	6,921,000	6,920,000	6,853,000	6,887,000	6,883,000	6,912,000	6,842,000	6,832,000	6,720,000	6,595,000	6,519,000	6,468,000	6,447,000	6,412,000	6,343,637	6,316,731	6,392,745	6,420,062	6,450,947	3,230,523	3,114,821	3,004,067	2,916,630	2,855,508	2,751,486	2,757,557	2,710,475	2,217,049	2,150,643	2,088,014	1,952,918	1,785,574	1,629,309	1,510,048	1,394,198	1,309,752	1,263,556	1,232,066	1,195,508	1,179,698	1,173,185	1,170,334	1,165,410	1,172,632	1,183,345	1,194,311	1,186,010	1,200,958	1,210,748	1,197,452	1,181,572	1,159,799	1,143,224	1,126,212	1,099,611	1,086,873	1,076,364	1,076,903	909,532	900,791	878,246	863,232	855,846	861,819	853,872	855,052	872,317	883,316	895,047	905,068	0	935,463
Retained Earnings	10,143,000	10,705,000	10,484,000	10,232,000	9,885,000	9,700,000	9,345,000	8,525,000	7,808,000	7,202,000	6,633,000	6,145,000	5,938,000	5,863,000	5,840,000	5,860,000	5,757,000	5,724,000	5,600,000	5,513,000	5,477,000	5,400,000	5,125,000	4,874,000	4,613,000	3,837,644	3,653,988	3,525,820	3,412,286	3,337,968	3,296,922	3,209,415	3,109,987	3,022,717	2,863,069	2,679,906	2,555,528	2,394,203	2,248,513	2,095,904	1,954,661	1,798,721	1,643,515	1,510,266	1,399,472	1,567,371	1,492,914	1,382,337	1,299,438	1,277,901	1,214,884	1,138,063	1,058,737	978,871	920,341	867,203	853,358	844,699	818,727	805,337	814,873	927,886	903,969	859,978	857,872	842,321	807,254	771,982	754,921	743,135	684,086	618,710	569,164	497,332	455,595	408,451	348,689	302,742	274,425	240,000	65,937	0	50,060
Retained Earnings Total Equity	0	0	10,484,000	10,232,000	9,885,000	9,700,000	9,345,000	8,525,000	7,808,000	7,202,000	6,633,000	6,145,000	5,938,000	5,863,000	5,840,000	5,860,000	5,757,000	5,724,000	5,600,000	5,513,000	5,477,000	5,400,000	5,125,000	4,874,000	4,613,000	3,837,644	3,653,988	3,525,820	3,412,286	3,337,968	3,296,922	3,209,415	3,109,987	3,022,717	2,863,069	2,679,906	2,555,528	2,394,203	2,248,513	2,095,904	1,954,661	1,798,721	1,643,515	1,510,266	1,399,472	1,567,371	1,492,914	1,382,337	1,299,438	1,277,901	1,214,884	0	0	0	0	0	0	0	0	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	299,000	299,000	3,000	2,000	0	8,000	10,000	264,000	269,000	268,000	37,000	34,000	0	0	0	1,000	0	17,000	26,000	22,000	0	0	2,666,000	461,000	710,000	3,349,402	3,489,900	3,602,831	3,828,000	148,681	148,681	0	764,258	0	0	0	763,997	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	4,906,000	4,873,000	4,894,000	4,892,000	4,879,000	5,295,000	4,868,000	5,166,000	5,180,000	5,197,000	3,961,000	3,547,000	3,566,000	3,681,000	4,120,000	4,432,000	3,445,000	3,424,000	2,989,000	3,002,000	2,668,000	2,667,000	2,666,000	3,127,000	3,837,000	3,349,402	3,490,604	3,601,642	3,827,995	3,829,266	758,453	758,300	764,115	764,086	764,056	764,027	763,997	763,968	763,938	763,909	763,879	763,849	763,820	763,790	763,761	763,731	764,604	764,583	764,563	764,543	764,522	764,502	764,482	610,461	515,441	515,420	515,400	515,380	510,359	510,339	510,319	515,948	549,438	554,807	511,414	335,217	260,196	280,876	260,156	260,135	260,115	260,094	266,889	267,189	267,489	267,789	298,089	348,389	536,689	537,000	510,289	0	0
Short Term Debt	299,000	299,000	3,000	2,000	119,000	8,000	10,000	264,000	269,000	268,000	37,000	34,000	7,000	1,000	3,000	1,000	-1,255,000	17,000	26,000	22,000	-1,159,000	0	2,666,000	461,000	710,000	3,349,402	704	1,189	149,341	148,681	1,263	1,033	235,329	7,150	19,175	0	-32,437	0	0	0	-34,169	0	0	0	-22,305	0	0	0	-19,611	0	0	0	-17,288	0	0	0	-26,499	0	0	0	-26,622	0	0	0	-17,705	0	0	0	-15,876	0	0	0	1,200	1,200	1,200	1,200	1,200	1,200	28,200	1,200	1,200	0	0
Short Term Investments	0	0	0	0	0	0	0	0	0	1,010,000	1,009,000	1,029,000	1,059,000	1,046,000	0	0	0	0	0	0	0	0	0	0	1,000	8,626	8,607	9,328	160,527	169,320	352,021	525,008	520,144	285,726	0	0	0	0	0	243,694	239,388	125,597	29,969	94,903	124,873	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	100,275	0	0	0	0	0	0	0	0	0	18	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	0	0	0	0	0	0	0	0
Total Assets	21,035,000	21,396,000	20,981,000	20,806,000	20,550,000	20,425,000	20,372,000	19,741,000	18,459,000	17,108,000	14,719,000	14,050,000	13,835,000	13,694,000	13,555,000	14,163,000	13,261,000	13,107,000	12,216,000	12,104,000	11,602,000	11,721,000	11,346,000	11,604,000	12,076,000	11,244,125	10,885,707	10,724,830	10,890,253	10,897,049	5,920,564	5,724,401	5,575,252	5,524,405	5,411,010	5,179,785	5,213,990	5,126,283	4,369,369	4,171,956	4,060,909	3,923,449	3,708,335	3,559,225	3,412,196	3,544,174	3,441,938	3,330,047	3,266,821	3,207,179	3,147,800	3,006,868	2,954,144	2,667,935	2,544,137	2,466,955	2,446,356	2,411,413	2,334,844	2,288,220	2,286,989	2,596,811	2,685,972	2,526,322	2,569,335	2,314,846	2,172,380	2,110,481	2,082,098	1,972,102	1,942,363	1,817,455	1,827,189	1,703,799	1,647,969	1,628,309	1,592,453	1,505,866	1,441,909	1,375,000	1,385,938	0	1,322,053
Total Current Assets	6,609,000	6,757,000	6,296,000	6,146,000	5,973,000	6,101,000	6,013,000	5,405,000	5,263,000	6,435,000	4,445,000	3,734,000	3,477,000	3,381,000	3,165,000	3,768,000	2,742,000	3,482,000	2,595,000	2,627,000	2,842,000	3,004,000	2,694,000	2,959,000	3,463,000	2,699,533	2,377,635	2,251,288	2,408,316	2,419,744	2,190,041	2,191,734	2,175,189	2,248,430	2,166,240	2,002,162	2,011,287	1,951,948	1,822,503	1,687,263	1,649,082	1,642,851	1,601,123	1,725,278	1,751,413	1,997,805	1,970,770	1,795,876	1,756,156	1,716,253	1,688,529	1,541,351	1,475,960	1,180,950	1,131,093	1,027,633	988,378	945,384	850,309	781,138	798,989	1,107,610	1,217,500	1,032,959	1,092,185	1,066,275	937,335	880,944	849,787	973,642	966,135	875,329	902,863	789,738	725,600	712,082	671,938	565,373	508,663	427,000	412,843	0	0
Total Current Liabilities	2,790,000	2,659,000	2,131,000	2,159,000	2,298,000	2,461,000	2,513,000	2,550,000	2,344,000	1,898,000	1,485,000	1,326,000	1,357,000	1,218,000	1,109,000	1,024,000	1,241,000	1,238,000	1,254,000	1,226,000	1,183,000	1,301,000	1,186,000	1,653,000	1,967,000	1,170,276	1,030,921	943,431	1,183,083	1,204,650	620,101	506,161	522,642	534,887	534,658	453,207	537,180	573,036	386,929	359,934	404,858	432,686	394,456	399,815	398,510	362,807	338,077	311,963	364,595	331,562	329,632	277,371	323,578	273,704	304,924	289,664	286,566	263,668	261,599	212,159	212,288	391,789	465,001	350,711	441,262	367,350	339,023	306,552	321,912	269,953	301,091	244,869	305,849	270,694	236,401	261,958	250,215	219,361	219,210	204,000	180,055	0	148,382
Total Liab	10,271,000	10,111,000	9,904,000	9,978,000	10,085,000	10,237,000	10,398,000	10,489,000	9,931,000	9,239,000	7,380,000	7,225,000	7,257,000	7,206,000	7,118,000	7,725,000	6,858,000	6,745,000	5,957,000	5,919,000	5,526,000	5,633,000	5,500,000	5,963,000	6,707,000	6,692,626	6,676,664	6,691,998	6,998,208	7,072,912	2,183,128	2,019,999	2,013,321	2,004,567	1,993,835	1,909,043	2,012,102	2,003,935	1,641,296	1,603,384	1,642,306	1,658,392	1,595,849	1,569,434	1,539,940	1,510,746	1,489,627	1,467,017	1,510,509	1,478,056	1,473,972	1,412,361	1,449,074	1,248,352	1,186,030	1,163,570	1,161,374	1,133,785	1,087,188	1,057,112	1,047,929	1,237,917	1,351,544	1,237,443	1,282,665	1,047,382	942,787	918,969	908,557	799,801	830,903	772,687	833,083	781,763	771,616	798,845	823,056	782,928	929,378	919,000	842,398	0	797,334
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	6,088,000	5,846,000	5,641,000	5,369,000	4,551,499	4,209,043	4,032,832	3,892,045	3,824,137	3,737,436	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	10,241,000	10,754,000	10,544,000	10,291,000	9,931,000	9,621,000	9,404,000	8,681,000	7,955,000	7,298,000	6,771,000	6,261,000	6,043,000	5,949,000	5,901,000	5,893,000	5,860,000	5,824,000	5,719,000	5,632,000	5,590,000	5,602,000	5,362,000	5,141,000	4,874,000	4,068,774	3,840,837	3,659,196	3,523,629	3,457,728	3,439,163	3,406,526	3,265,878	3,224,999	3,123,388	2,979,858	2,911,511	2,833,861	2,728,073	2,568,572	2,418,603	2,265,057	2,112,486	1,989,791	1,872,256	2,033,428	1,952,311	1,863,030	1,756,312	1,729,123	1,673,828	1,594,507	1,505,070	1,419,583	1,358,107	1,303,385	1,284,982	1,277,628	1,247,656	1,231,108	1,239,060	1,358,894	1,334,428	1,288,879	1,286,670	1,267,464	1,229,593	1,191,512	1,173,541	1,172,301	1,111,460	1,044,768	994,106	922,036	876,353	829,464	769,397	722,938	490,431	456,000	543,540	0	443,425
Treasury Stock	0	0	-463,000	-465,000	-467,000	-439,000	-408,000	-372,000	-399,000	-406,000	-378,000	-379,000	-401,000	-409,000	-411,000	-413,000	-377,000	-396,000	-390,000	-371,000	-382,000	-337,000	-289,000	-292,000	-302,000	-314,694	-316,152	-316,396	-319,339	-319,980	-322,802	-256,459	-258,312	-217,542	-158,472	-98,275	-96,372	-53,248	-45,181	-46,220	-46,220	-32,711	-26,585	-13,302	-13,302	-13,302	-13,302	-2,518	-2,518	-2,018	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

Cash Flow

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2000-12-31	1999-12-31
Begin Period Cash Flow	2,228,000	1,941,000	1,337,000	750,000	775,000	1,554,000	459,000	662,525	880,601	461,301	790,078	825,901	630,299	245,592	90,239	24,914	52,646	237,895	43,396	37,381	11,123	79,095	0	0
Capital Expenditures	1,034,000	1,108,000	658,000	525,000	787,000	702,000	577,000	628,483	491,426	431,104	679,358	391,190	176,843	81,269	99,769	172,561	135,725	136,258	85,760	52,710	44,931	43,587	0	0
Cash And Cash Equivalents Changes	0	329,000	618,000	572,000	-23,000	-772,000	1,072,000	-203,072	-218,076	419,300	-328,777	-35,823	195,602	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	-193,000	-258,000	-59,000	-72,000	-85,000	-39,000	-87,073	-27,916	2,597	-60,565	-17,443	-7,080	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	1,076,000	305,000	604,000	587,000	-25,000	-779,000	1,072,000	-203,072	-218,076	419,300	-328,777	-35,823	195,602	384,707	155,353	65,325	-27,732	-185,249	194,499	6,015	26,258	-67,972	-83,286	-129,517
Change In Working Capital	332,000	-24,000	-614,000	-78,000	-3,000	-374,000	90,000	-38,501	126,037	64,597	-123,355	100,142	-42,181	-80,994	20,614	92,892	-163,344	-64,331	-39,803	-122,231	-39,048	-107,155	0	0
Change Receivables	0	325,000	-528,000	-161,000	59,000	-58,000	-40,000	50,291	62,722	33,161	-14,830	6,450	-45,766	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	225,000	325,000	-528,000	-161,000	59,000	-58,000	-40,000	50,291	62,722	33,161	-14,830	6,450	-45,766	-33,478	5,667	148,852	-200,657	-7,411	0	-39,315	-42,177	0	0	0
Change To Inventory	250,000	-140,000	-309,000	29,000	112,000	-123,000	-32,000	-61,985	99,430	51,087	-46,633	91,479	-40,749	-80,611	-41,450	199,904	-71,595	-47,275	-20,054	-119,056	-9,894	-42,639	0	0
Change To Liabilities	0	-16,000	481,000	113,000	-102,000	-108,000	201,000	60,266	-29,244	-22,248	-1,327	19,656	39,096	35,554	75,352	0	120,754	43,601	52,465	42,303	45,146	12,495	0	0
Change To Netincome	0	66,000	98,000	229,000	129,000	108,000	-492,000	71,669	61,038	72,604	106,392	-7,698	24,749	0	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	-56,000	-614,000	-78,000	-85,000	-93,000	66,000	-6,000	-14,000	77,586	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1,097,000	1,056,000	840,000	773,000	713,000	641,000	601,000	377,666	245,757	208,486	157,808	144,541	131,397	128,732	123,199	111,926	104,274	87,112	82,697	83,172	88,180	88,018	78,757	86,462
Dividends Paid	-221,000	169,000	145,000	137,000	132,000	120,000	103,000	96,560	91,551	77,656	55,236	285,521	18,265	16,014	14,510	13,456	11,778	8,802	6,342	1,379	0	0	0	0
End Period Cash Flow	3,304,000	2,246,000	1,941,000	1,337,000	750,000	775,000	1,531,000	459,453	662,525	880,601	461,301	790,078	825,901	630,299	245,592	90,239	24,914	52,646	237,895	43,396	37,381	11,123	-83,286	-129,517
Exchange Rate Changes	0	0	0	0	0	0	26,000	-7,341	-3,924	-4,511	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	1,302,000	2,287,000	1,736,000	772,000	514,000	707,000	961,000	205,369	587,410	601,272	73,371	232,864	185,453	202,015	135,753	13,528	-73,559	100,926	232,687	98,071	33,156	-64,913	173,377	132,884
Investments	-1,081,000	-2,479,000	-24,000	44,000	-1,954,000	-754,000	-652,000	519,305	27,865	222,882	-144,889	-79,748	-30,014	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	0	0	0	0	63,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	-250,000	1,661,000	28,000	786,000	-1,165,000	169,000	35,773	52,960	1,186	0	93,030	51,530	0	0	0	0	0	0	0	0	0	0	0
Net Income	479,000	2,297,000	2,070,000	373,000	462,000	1,034,000	1,339,000	419,859	665,045	685,016	610,425	385,555	258,966	221,393	52,995	-29,543	114,729	194,559	226,817	120,722	14,756	-7,062	54,999	37,800
Other Cashflows From Financing Activities	-45,000	-67,000	1,612,000	-53,000	747,000	-36,000	131,000	-206,329	-13,210	14,362	8,886	94,212	56,874	201,043	39,730	917,456	46,357	-11,144	-31,200	-244,591	-10,248	-7,960	-83,286	-129,517
Other Cashflows From Investing Activities	0	-1,371,000	-2,555,000	-28,000	-1,167,000	-52,000	-75,000	-2,453,622	49	-564,983	-178,127	-341	4,072	10,408	2,880	609	3,185	0	37	6,041	3,350	4,901	0	0
Other Non Cash Items	560,000	51,000	44,000	54,000	50,000	24,000	19,000	-40,042	-7,983	6,049	7,153	-6,518	-6,391	-6,164	1,869	20,515	-1,652	4,910	2,991	3,930	7,087	9,589	39,621	8,622
Sale Purchase Of Stock	-23,000	-101,000	-30,000	-54,000	-30,000	-106,000	978,000	-67,406	-162,459	-52,630	-32,918	-10,784	-2,518	0	0	0	0	0	0	-11,485	0	0	0	0
Stock Based Compensation	43,000	36,000	31,000	29,000	25,000	22,000	23,000	14,193	10,196	9,261	6,966	6,127	6,391	6,164	5,638	4,178	2,873	1,082	0	0	0	0	0	0
Total Cash From Financing Activities	-245,000	-587,000	1,437,000	-216,000	630,000	-1,427,000	160,000	1,533,217	-286,812	164,640	-79,268	-192,906	36,091	181,698	23,017	51,188	34,907	-18,097	-36,358	-64,803	-10,248	-7,960	-83,286	-129,517
Total Cash From Operating Activities	2,336,000	3,395,000	2,394,000	1,297,000	1,301,000	1,409,000	1,538,000	833,852	1,078,836	1,032,376	752,729	624,054	362,296	283,284	235,522	186,089	62,166	237,184	318,447	150,781	78,087	-21,326	173,377	132,884
Total Cashflows From Investing Activities	0	-2,479,000	-3,213,000	-509,000	-1,954,000	-754,000	-652,000	-2,562,800	-1,006,176	-773,205	-1,002,238	-466,971	-202,785	0	0	0	0	0	0	0	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-06-30	2003-03-31	2002-12-31	2002-09-30
Begin Period Cash Flow	3,057,000	2,692,000	2,429,000	2,246,000	1,806,000	1,344,000	1,084,000	1,941,000	3,610,000	1,879,000	1,430,000	1,337,000	1,240,000	1,130,000	1,559,000	750,000	1,459,000	431,000	467,000	775,000	811,000	505,000	874,000	1,554,000	678,233	395,776	372,591	459,453	380,519	770,997	614,976	662,525	961,925	1,026,569	945,649	880,601	813,468	876,067	532,643	461,301	591,556	625,501	777,887	790,078	1,198,468	1,110,538	895,142	825,901	758,939	712,322	654,503	630,299	428,333	288,805	185,263	245,592	252,873	204,007	179,343	90,239	22,452	22,462	7,846	24,914	139,259	42,615	13,325	52,646	202,824	275,615	236,366	237,895	123,348	109,673	46,635	43,396	50,984	57,376	37,000	37	0	0	-	0	-
Capital Expenditures	282,000	245,000	240,000	267,000	297,000	318,000	230,000	263,000	244,000	144,000	129,000	141,000	122,000	112,000	127,000	164,000	183,000	193,000	208,000	203,000	195,000	195,000	158,000	154,000	162,729	133,369	146,617	134,285	161,153	180,170	150,832	136,328	162,190	125,303	108,111	95,822	119,921	94,271	106,171	110,741	180,932	200,417	147,225	150,784	155,727	94,895	75,666	64,902	65,020	42,645	40,370	28,808	30,032	20,151	16,367	14,719	34,738	14,668	17,571	32,792	45,398	45,412	38,767	42,984	49,430	35,812	31,610	18,873	35,599	37,772	34,338	28,549	25,028	16,640	26,756	17,336	21,798	11,516	8,351	11,045	44,931	0	0	38,587	0
Cash And Cash Equivalents Changes	0	0	263,000	174,000	397,000	499,000	287,000	-854,000	-1,655,000	1,731,000	449,000	93,000	82,000	110,000	-429,000	809,000	-707,000	1,028,000	-36,000	-308,000	-29,000	306,000	-369,000	-680,000	853,220	282,457	23,185	-86,862	78,934	-390,478	156,021	-47,549	-299,400	-64,644	80,920	65,048	67,133	-62,599	343,424	71,342	-130,255	-33,945	-152,386	-12,191	-408,390	87,930	215,396	69,241	0	0	0	0	0	0	0	0	0	0	0	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	-128,000	-87,000	-19,000	-33,000	-105,000	-36,000	-110,000	-39,000	-72,000	-37,000	14,000	-6,000	-42,000	-25,000	-1,000	-5,000	-48,000	-18,000	-17,000	-11,000	-43,000	-14,000	-19,280	7,324	-41,076	14,032	40,176	-40,483	-67,021	-19,745	580	8,491	-24,584	-12,403	7,294	4,226	-6,060	-2,863	395	6,540	-11,591	-55,909	-1,791	-17,492	-273	2,113	0	0	0	0	0	0	0	0	0	0	0	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	247,000	380,000	263,000	183,000	440,000	462,000	260,000	-857,000	-1,669,000	1,731,000	449,000	93,000	97,000	110,000	-429,000	809,000	-709,000	1,028,000	-36,000	-308,000	-36,000	306,000	-369,000	-680,000	852,767	282,457	23,185	-86,862	78,934	-390,478	156,021	-47,549	-299,400	-64,644	80,920	65,048	67,133	-62,599	343,424	71,342	-130,255	-33,945	-152,386	-12,191	-408,390	87,930	215,396	69,241	66,962	46,617	57,819	24,204	201,966	139,528	103,542	-60,329	-7,281	48,866	24,664	89,104	67,787	-10	14,616	-17,068	-114,345	96,644	29,290	-39,321	-150,178	-72,791	39,249	-1,529	114,547	13,675	63,038	3,239	-7,588	-6,392	20,500	-537	0	0	-	0	-
Change In Working Capital	369,000	119,000	1,000	-157,000	380,000	274,000	-300,000	-378,000	-134,000	-107,000	-165,000	-208,000	107,000	-10,000	246,000	-421,000	20,000	139,000	-5,000	-157,000	-57,000	102,000	-170,000	-249,000	150,938	90,503	-10,634	-140,807	26,197	55,006	7,748	-127,452	14,056	143,041	-9,943	-21,117	-30,449	105,335	-10,970	681	-20,959	55,656	-85,513	-72,539	-1,604	50,770	55,344	-13,941	68,939	14,771	-40,825	-85,161	-49,026	53,666	16,236	-105,417	-25,821	-46,218	3,434	89,219	188,754	31,152	-63,642	-63,372	-69,935	-5,808	1,774	-89,375	-20,861	-16,609	-13,713	-13,148	30,681	-48,043	20,659	-43,100	-23,821	-26,853	66,453	-9,788	0	0	-	0	-
Change Receivables	0	0	-19,000	-15,000	425,000	316,000	-222,000	-194,000	-114,000	-69,000	-225,000	-120,000	90,000	-123,000	112,000	-240,000	64,000	114,000	-78,000	-41,000	194,000	20,000	-139,000	-133,000	145,153	-43,124	-77,353	-64,676	142,602	-19,315	-36,672	-36,324	7,785	77,317	-40,897	18,517	27,106	33,422	-32,699	5,332	4,044	42,620	-53,577	-7,917	-7,282	24,837	26,615	-37,720	0	0	0	0	0	0	0	0	0	0	0	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	355,000	-96,000	-19,000	-15,000	425,000	316,000	-222,000	-194,000	-114,000	-69,000	-225,000	-120,000	90,000	-123,000	112,000	-240,000	64,000	114,000	-78,000	-41,000	194,000	20,000	-139,000	-133,000	145,153	-43,124	-77,353	-64,676	142,602	-19,315	-36,672	-36,324	7,785	77,317	-40,897	18,517	27,106	33,422	-32,699	5,332	4,044	42,620	-53,577	-7,917	-7,282	24,837	26,615	-37,720	54,758	-32,275	-20,909	-47,340	-2,883	66,190	-31,128	-65,657	2,145	-22,315	-40,565	66,402	148,852	0	0	42,790	-200,657	0	0	-115,992	-7,411	0	0	25,516	-66,225	0	0	-52,364	-19,340	0	-22,240	2,265	0	0	-	0	-
Change To Inventory	56,000	-11,000	171,000	34,000	198,000	-39,000	-163,000	-136,000	-129,000	-125,000	-13,000	-42,000	-79,000	21,000	95,000	-8,000	-24,000	11,000	106,000	19,000	-81,000	-33,000	32,000	-41,000	-55,945	2,738	40,451	-19,244	-55,861	6,595	28,159	-40,878	-6,469	55,784	14,136	35,979	-29,405	46,132	1,490	32,870	-20,308	-24,432	6,883	-8,776	-27,761	35,587	15,281	68,372	-24,529	41,950	-61,941	3,771	-94,225	14,222	28,387	-28,995	-57,388	-25,262	-2,894	44,094	163,218	23,277	17,589	-4,180	-61,472	-1,880	-46,868	38,625	-74,217	30,165	-3,504	281	-53,282	21,606	9,987	1,635	-70,457	3,568	-34,627	-17,540	0	0	-	0	-
Change To Liabilities	0	15,000	-23,000	-89,000	-224,000	30,000	190,000	-12,000	219,000	-132,000	57,000	-9,000	82,000	98,000	81,000	-148,000	-19,000	19,000	15,000	-117,000	-153,000	126,000	-20,000	-61,000	82,682	123,565	67,227	-72,474	-47,000	54,489	83,282	-30,505	12,160	1,449	20,357	-63,210	-35,444	21,555	26,299	-34,658	-5,090	30,928	-27,228	63	35,230	7,838	26,373	-49,785	39,096	4,772	6,856	0	35,554	0	17,045	3,098	75,352	52,454	50,385	945	0	0	22,759	0	120,754	46,842	18,515	0	43,601	0	10,537	0	52,465	20,479	0	11,743	42,303	6,284	3,792	0	45,146	0	-	12,495	-
Change To Netincome	0	15,000	-24,000	-5,000	-64,000	-3,000	76,000	57,000	-10,000	52,000	58,000	25,000	5,000	102,000	-13,000	135,000	40,000	18,000	20,000	51,000	12,000	25,000	50,000	21,000	-541,992	17,270	28,480	4,242	-48,128	8,138	50,142	61,517	41,295	12,734	4,885	2,124	38,723	14,029	12,397	7,455	13,336	24,982	38,351	29,723	-5,547	1,503	-7,124	3,470	0	0	0	0	0	0	0	0	0	0	0	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	211,000	-128,000	-128,000	-88,000	107,000	-634,000	-44,000	-544,000	-375,000	16,000	-208,000	-19,000	83,000	29,000	-171,000	20,000	23,000	23,000	-128,000	-34,000	68,000	-65,000	-62,000	66,000	152,020	-6,385	-106,264	-6,000	13,237	-67,021	0	-14,000	0	0	0	77,586	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	282,000	277,000	271,000	267,000	271,000	264,000	264,000	257,000	240,000	203,000	202,000	195,000	196,000	196,000	191,000	190,000	188,000	178,000	176,000	171,000	168,000	161,000	156,000	156,000	152,467	153,634	144,630	150,269	150,473	94,229	67,250	65,714	65,528	61,248	60,340	58,641	60,092	53,920	48,502	45,972	41,514	40,728	40,210	35,356	34,940	38,424	35,783	35,394	33,153	32,861	32,805	32,578	32,410	32,201	32,093	32,028	31,889	-28,492	30,913	28,987	30,399	27,711	27,815	26,001	26,282	26,898	26,550	24,544	24,477	21,267	20,606	20,762	20,948	19,462	20,817	21,470	18,662	21,666	20,800	20,900	0	0	-	0	-
Dividends Paid	-65,000	64,000	45,000	47,000	46,000	46,000	38,000	39,000	38,000	38,000	34,000	35,000	35,000	34,000	34,000	34,000	34,000	33,000	32,000	33,000	33,000	33,000	27,000	27,000	26,509	27,000	25,000	24,000	24,627	24,616	23,617	23,700	23,699	23,956	21,932	21,964	21,966	22,067	16,834	16,789	15,032	15,084	12,567	12,553	263,176	12,507	4,924	4,914	4,906	4,913	4,228	4,218	4,207	4,201	3,804	3,802	3,794	3,794	3,461	3,461	3,446	3,447	3,281	3,282	3,275	3,274	2,618	2,611	2,610	2,609	1,792	1,791	1,791	1,788	1,382	1,381	1,379	0	0	0	0	0	-	0	-
End Period Cash Flow	3,304,000	3,072,000	2,692,000	2,429,000	2,246,000	1,806,000	1,344,000	1,084,000	1,941,000	3,610,000	1,879,000	1,430,000	1,337,000	1,240,000	1,130,000	1,559,000	750,000	1,459,000	431,000	467,000	775,000	811,000	505,000	874,000	1,531,000	678,233	395,776	372,591	459,453	380,519	770,997	614,976	662,525	961,925	1,026,569	945,649	880,601	813,468	876,067	532,643	461,301	591,556	625,501	777,887	790,078	1,198,468	1,110,538	895,142	825,901	758,939	712,322	654,503	630,299	428,333	288,805	185,263	245,592	252,873	204,007	179,343	90,239	22,452	22,462	7,846	24,914	139,259	42,615	13,325	52,646	202,824	275,615	236,366	237,895	123,348	109,673	46,635	43,396	50,984	57,500	-500	37	0	-	0	-
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	-5,000	-1,000	-3,000	0	7,000	0	-3,000	0	-4,000	0	-1,000	0	-4,000	-6,000	4,000	4,009	8,305	10,244	3,442	-9,759	932	-2,372	3,858	-664	-1,260	1,189	-3,189	-824	-3,687	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	291,000	451,000	315,000	245,000	538,000	629,000	683,000	437,000	513,000	611,000	488,000	124,000	309,000	245,000	321,000	-103,000	150,000	308,000	112,000	-56,000	59,000	411,000	166,000	71,000	412,607	349,581	175,703	23,109	128,539	-5,902	90,125	-7,393	75,346	280,642	136,688	94,734	136,331	249,611	113,566	101,764	24,297	91,603	-7,997	-34,532	-32,296	83,114	136,891	45,155	52,923	76,403	44,275	11,852	38,271	139,236	94,305	-69,797	-12,672	45,436	15,478	87,511	64,105	39,221	-18,560	-71,238	-82,265	25,011	44,982	-61,287	-12,283	29,196	45,803	38,210	118,293	14,788	64,686	34,920	45,622	32,860	20,849	-1,245	48,288	0	-	0	-
Investments	-287,000	-251,000	-236,000	-263,000	-331,000	-21,000	-60,000	-1,507,000	-5,000	-10,000	-2,000	-135,000	-143,000	5,000	-128,000	39,000	-1,006,000	-185,000	-288,000	-475,000	-5,000	-18,000	-19,000	-26,000	-66,000	-15,631	-16,021	-15,355	3,444	355,223	133,779	26,859	268,021	-254,019	14,696	-833	-119,163	117,622	243,738	-19,315	-126,732	-105,360	57,912	29,291	-124,913	1,588	46,027	-2,450	0	0	0	0	0	0	0	0	0	0	0	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	0	0	0	0	0	0	0	-	0	-
Net Borrowings	0	0	0	0	0	0	-247,000	-3,000	6,000	1,664,000	5,000	4,000	-154,000	1,196,000	-1,987,000	973,000	15,000	769,000	5,000	-3,000	1,000	1,000	-465,000	-702,000	491,125	-139,392	-110,819	-71,914	566	49,691	-9,439	-5,045	66,431	-11,564	-1,907	0	19	1,167	0	0	0	0	0	0	0	17,153	45,077	30,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	-
Net Income	-497,000	295,000	307,000	407,000	248,000	412,000	873,000	764,000	661,000	620,000	536,000	253,000	123,000	69,000	24,000	157,000	85,000	166,000	129,000	82,000	131,000	318,000	288,000	297,000	815,722	219,150	159,418	144,710	105,289	70,014	115,620	128,936	116,157	188,420	210,061	150,407	187,385	170,156	169,443	158,032	170,972	170,290	145,816	123,347	95,277	86,964	115,501	87,813	26,443	67,930	81,049	83,544	84,073	62,731	56,942	17,647	12,453	29,766	16,851	-6,075	-109,567	27,364	47,273	5,387	18,826	38,341	37,890	19,672	14,397	61,656	67,169	51,337	73,622	43,526	48,526	61,143	47,326	28,317	22,540	10,700	10,635	3,027	10,426	0	16,927
Other Cashflows From Financing Activities	-10,000	20,000	-10,000	-6,000	222,000	-20,000	-19,000	-5,000	-12,000	1,627,000	-4,000	1,000	-13,000	-11,000	255,000	-2,000	79,000	-16,000	-36,000	-6,000	-7,000	-52,000	-17,000	2,000	-4,061	159,134	115,166	202,446	-2,657	-186,207	-13,746	-3,719	27,813	-1,300	-4,699	-1,700	-2,189	288,470	2,953	5,670	393	1,006	-11,485	5,434	4,572	19,272	38,321	31,280	20,376	4,946	15,517	15,995	174,180	6,229	12,358	5,318	13,190	5,734	7,889	12,703	7,228	-35,820	36,109	56,919	258,938	-212,581	-20,700	20,700	-1	-49	-195	-10,899	-300	666	-300	-30,300	-67,176	-7,039	-300	-300	0	0	-	0	-
Other Cashflows From Investing Activities	0	2,000	4,000	4,000	-34,000	-27,000	-66,000	-1,244,000	-2,127,000	4,000	2,000	6,000	-21,000	1,000	-1,000	-7,000	-823,000	8,000	-80,000	-272,000	2,000	-12,000	-18,000	-24,000	-76,843	38	184	1,621	-16,006	-2,437,721	1	104	-15,750	17	15,782	0	-1,176,070	611,074	1	12	73	16	-178,385	169	3,945	-3,537	-919	170	3,131	2,125	2,234	408	10,408	8,318	8,721	7,952	2,880	4,896	3,406	0	609	917	881	533	3,185	3,372	3,706	3,815	0	0	0	0	37	43	34	0	6,041	2,087	1,006	1,006	3,350	0	-	4,901	-
Other Non Cash Items	515,000	108,000	-1,000	2,000	-9,000	25,000	28,000	7,000	9,000	6,000	22,000	7,000	5,000	37,000	9,000	3,000	14,000	-7,000	7,000	29,000	18,000	-9,000	16,000	-1,000	7,243	5,359	3,206	3,192	5,361	-49,405	3,205	797	6,944	6,100	-15,981	-5,046	12,311	-2,974	-611	-2,677	1,644	1,128	6,131	-877	3,509	2,671	-1,474	-1,651	-6,900	-1,635	1,459	780	-1,613	1,975	-1,589	-1,390	-1,364	64,842	-465	-1,242	12,714	3,388	1,207	1,620	-170	25	613	-412	601	52	-167	3,318	2,852	8,713	-10,046	1,472	-1,092	4,900	-97,993	-17,112	0	0	-	0	-
Sale Purchase Of Stock	0	16,000	-1,000	-22,000	-33,000	-37,000	-31,000	0	-30,000	-30,000	0	0	54,000	-54,000	-54,000	-54,000	-20,000	-10,000	-20,000	1,000	-57,000	-49,000	-22,000	-7,000	747,054	106,005	-11,570	-4,463	265	-2	-66,725	-679	-48,205	-51,450	-60,804	-2,000	-43,135	-9,495	2,029	2,158	-13,509	-6,126	-13,283	1,590	-10,784	2,119	-6,756	480	-2,499	-19	0	0	-1,280	0	0	0	-772	0	0	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	12,000	-87,000	12,000	9,000	10,000	9,000	9,000	8,000	8,000	7,000	8,000	8,000	8,000	7,000	8,000	6,000	6,000	6,000	6,000	7,000	6,000	5,000	5,000	6,000	6,260	6,000	5,000	6,000	7,605	1,504	2,781	2,303	2,652	2,639	2,565	2,340	2,405	2,345	2,289	2,222	2,162	1,680	1,625	1,499	1,487	1,515	1,474	1,651	1,629	1,635	1,624	1,503	1,598	1,587	1,589	1,390	1,488	1,461	1,380	1,309	4,178	1,010	-371	947	2,873	-213	-876	-619	467	1,721	0	0	0	0	0	0	0	0	0	0	0	0	-	0	-
Total Cash From Financing Activities	-70,000	-44,000	-56,000	-75,000	-107,000	-103,000	-330,000	-47,000	-50,000	1,559,000	-38,000	-34,000	-202,000	-145,000	-752,000	883,000	-39,000	717,000	-69,000	21,000	-96,000	-89,000	-511,000	-731,000	466,440	-59,836	-146,925	-99,679	-27,284	1,696,990	-103,368	-33,121	-83,689	-90,024	-87,435	-25,664	-67,268	256,908	-13,881	-11,119	-27,893	-20,204	-24,052	-7,119	-259,434	6,765	33,397	26,366	12,992	33	11,289	11,777	171,019	695	8,468	1,516	7,407	1,940	4,428	9,242	3,990	-39,267	32,828	53,637	-31,893	71,967	-23,318	18,151	-2,166	-1,650	-1,987	-12,294	-1,873	-1,122	-1,682	-31,681	-57,164	-7,039	-300	-300	0	0	-	0	-
Total Cash From Operating Activities	573,000	696,000	555,000	512,000	835,000	947,000	913,000	700,000	757,000	755,000	617,000	265,000	431,000	357,000	448,000	61,000	333,000	501,000	320,000	147,000	254,000	606,000	324,000	225,000	575,336	482,950	322,320	157,394	289,692	174,268	240,957	128,935	237,536	405,945	244,799	190,556	256,252	343,882	219,737	212,505	205,229	292,020	139,228	116,252	123,431	178,009	212,557	110,057	117,943	119,048	84,645	40,660	68,303	159,387	110,672	-55,078	22,066	60,104	33,049	120,303	109,503	84,633	20,207	-28,254	-32,835	60,823	76,592	-42,414	23,316	66,968	80,141	66,759	143,321	31,428	91,442	52,256	67,420	44,376	29,200	9,800	93,219	0	-	0	-
Total Cashflows From Investing Activities	0	-750,000	-236,000	-263,000	-331,000	-345,000	-296,000	-1,507,000	-2,371,000	-578,000	-129,000	-135,000	-143,000	-106,000	-128,000	-132,000	-1,006,000	-185,000	-288,000	-475,000	-193,000	-207,000	-176,000	-178,000	-192,565	-148,962	-162,454	-148,019	-173,715	-2,389,085	20,804	-147,221	-452,583	-379,305	-77,633	-96,655	-121,027	-652,178	137,568	-130,044	-307,591	-305,761	-267,562	-121,324	-272,387	-96,844	-30,558	-67,182	-202,785	-138,812	-66,348	0	0	0	0	0	0	0	0	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	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31
Cost Of Revenue	10,451,000	11,721,000	8,283,000	6,481,000	6,858,000	6,648,000	6,272,000	4,094,894	3,278,145	3,098,000	2,658,046	2,834,081	3,060,842	2,689,104	2,130,595	3,622,985	2,920,778	2,087,883	1,997,474	1,682,168	1,301,082	992,058	1,116,954	1,193,352	887,956
Depreciation And Amortization	1,097,000	1,162,000	914,000	853,000	788,000	641,000	601,000	377,666	245,757	208,486	157,808	144,541	131,397	128,732	123,199	111,926	104,274	87,112	82,697	83,172	88,180	88,018	60,880	78,757	86,462
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
Ebit	1,232,000	3,050,000	2,800,000	429,000	656,000	1,493,000	1,269,000	741,524	998,097	1,121,270	960,254	618,871	446,796	378,364	107,257	-29,540	176,062	339,274	365,021	256,101	68,661	9,542	-90,801	124,243	103,419
Ebitda	2,329,000	4,212,000	3,714,000	1,282,000	1,444,000	2,134,000	1,870,000	1,119,190	1,243,854	1,329,756	1,118,062	763,412	578,193	507,096	230,456	82,386	280,336	426,386	447,718	339,273	156,841	97,560	-29,921	203,000	189,881
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
Extraordinary Items	0	0	0	0	0	0	591,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Gross Profit	2,097,000	4,073,000	3,495,000	1,023,000	1,260,000	1,987,000	1,769,000	980,562	1,185,191	1,317,350	1,101,438	736,960	559,006	482,683	195,128	69,368	271,400	396,483	443,631	303,185	121,952	80,569	-29,921	198,924	169,675
Income Before Tax	700,000	2,946,000	2,677,000	331,000	570,000	1,334,000	1,081,000	558,379	963,441	1,083,918	942,172	585,169	401,432	342,960	78,753	-58,022	158,957	282,549	345,328	190,662	23,503	-14,203	-117,339	90,694	126,261
Income Tax Expense	178,000	649,000	607,000	-42,000	108,000	300,000	-258,000	138,520	298,396	398,902	331,747	199,614	142,466	121,567	25,758	-28,479	44,228	87,990	118,511	69,940	8,747	-7,141	-45,353	71,110	77,040
Interest Expense	165,000	177,000	176,000	142,000	124,000	126,000	159,000	79,473	34,656	37,352	18,082	43,049	50,992	39,875	34,957	33,957	18,422	16,519	23,717	39,350	36,788	0	-	0	0
Interest Income	78,000	153,000	176,000	142,000	124,000	126,000	159,000	8,421	13,195	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Minority Interest	-43,000	50,000	55,000	43,000	41,000	38,000	35,000	21,000	19,035	-6,493	0	0	0	0	0	0	0	0	0	0	1,057	0	-	0	0
Net Income	479,000	2,247,000	2,015,000	330,000	421,000	996,000	1,304,000	398,859	646,010	678,523	610,425	385,555	258,966	221,393	52,995	-29,543	114,729	194,559	226,817	120,722	14,756	-7,062	-71,986	54,999	37,800
Net Income Applicable To Common Shares	0	2,247,000	2,015,000	330,000	421,000	996,000	1,304,000	398,859	646,010	678,523	610,425	385,555	258,966	221,393	52,995	0	114,729	194,559	226,817	120,722	12,301	0	-	0	0
Net Income From Continuing Ops	522,000	2,297,000	2,070,000	373,000	462,000	1,034,000	823,000	696,899	1,261,837	1,482,820	1,273,919	369,126	258,966	0	0	0	0	0	0	0	0	0	-	0	0
Net Interest Income	-165,000	-177,000	-176,000	-142,000	-124,000	-126,000	-159,000	-71,052	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Non Operating Income Net Other	0	73,000	53,000	44,000	38,000	52,000	7,000	56,398	38,270	-2,721	6,790	-3,562	5,628	0	0	0	0	0	0	0	0	0	-	0	0
Non Recurring	0	0	0	0	37,000	33,000	29,000	103,672	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Operating Income	1,232,000	3,050,000	2,800,000	429,000	656,000	1,408,000	1,233,000	581,454	959,827	1,123,991	953,464	615,351	446,796	378,364	107,257	-29,540	174,721	313,251	367,033	243,166	65,815	14,072	-90,801	126,109	114,840
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
Other Operating Expenses	11,316,000	12,711,000	8,957,000	7,039,000	7,425,000	7,194,000	6,779,000	4,390,330	3,503,509	3,291,359	2,806,020	2,955,690	3,173,052	2,793,423	2,218,466	3,721,893	3,017,457	2,171,115	2,074,072	1,742,187	1,357,219	1,058,555	1,116,954	1,266,167	942,791
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
Reconciled Depreciation	1,097,000	1,056,000	840,000	773,000	713,000	641,000	601,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Selling And Marketing Expenses	0	41,000	23,000	14,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Selling General Administrative	865,000	794,000	528,000	435,000	458,000	445,000	399,000	295,436	225,364	193,359	147,974	121,609	112,210	104,319	87,871	98,908	96,679	83,232	76,598	60,238	53,136	58,783	-	0	0
Tax Provision	178,000	649,000	607,000	-42,000	108,000	300,000	-258,000	138,520	298,396	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Total Operating Expenses	865,000	990,000	674,000	558,000	567,000	546,000	507,000	295,436	225,364	193,359	147,974	121,609	112,210	104,319	87,871	98,908	96,679	83,232	76,598	60,019	56,137	66,497	-60,880	72,815	54,835
Total Other Income Expense Net	-532,000	-104,000	-123,000	-98,000	-86,000	19,000	-22,000	-47,274	38,270	-2,721	6,790	12,867	5,628	4,471	6,453	5,475	1,455	-24,257	2,012	-12,935	-2,846	4,530	-26,538	1,866	11,421
Total Revenue	12,548,000	15,794,000	11,778,000	7,504,000	8,118,000	8,635,000	8,041,000	5,075,456	4,463,336	4,415,350	3,759,484	3,571,041	3,619,848	3,171,787	2,325,723	3,692,353	3,192,178	2,484,366	2,441,105	1,985,353	1,423,034	1,072,627	1,087,033	1,392,276	1,057,631

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31
Cost Of Revenue	2,657,000	2,529,000	2,609,000	2,564,000	2,732,000	3,180,000	3,038,000	2,771,000	2,411,000	2,037,000	1,987,000	1,848,000	1,642,000	1,650,000	1,540,000	1,649,000	1,633,000	1,695,000	1,804,000	1,726,000	1,641,000	1,716,000	1,683,000	1,608,000	1,512,000	1,610,837	1,573,327	1,575,473	1,453,702	1,076,895	844,695	719,602	750,578	876,761	831,821	818,985	773,022	891,707	692,605	740,666	655,954	699,694	665,560	636,838	610,793	648,996	712,062	862,230	781,915	821,305	757,954	699,668	631,263	644,822	692,365	720,654	583,172	560,033	519,203	468,187	732,691	1,001,948	1,009,989	878,357	807,532	754,100	698,233	660,913	492,866	563,241	544,055	487,721	501,335	516,127	481,179	498,833	464,731	487,520	364,959	362,100	330,235	338,161	295,770	336,916	266,432	253,979	267,624	214,057
Depreciation And Amortization	282,000	277,000	271,000	292,000	61,000	294,000	288,000	279,000	240,000	29,000	202,000	195,000	196,000	27,000	191,000	190,000	188,000	27,000	176,000	171,000	26,000	161,000	156,000	156,000	26,000	153,634	144,630	150,269	150,473	94,229	67,250	65,714	65,528	61,248	60,340	58,641	60,092	53,920	48,502	45,972	41,514	40,728	40,210	35,356	34,940	38,424	35,783	35,394	33,153	32,861	32,805	32,578	32,410	32,201	32,093	32,028	31,889	-28,492	30,913	28,987	30,399	27,711	27,815	26,001	26,282	26,898	26,550	24,544	24,477	21,267	20,606	20,762	20,948	19,462	20,817	21,470	18,662	21,666	20,800	20,900	0	-	0	-	0	-	-	-
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	-55,000	405,000	422,000	536,000	327,000	516,000	1,175,000	1,032,000	906,000	880,000	730,000	358,000	190,000	125,000	47,000	147,000	113,000	255,000	198,000	165,000	219,000	424,000	420,000	430,000	371,000	377,538	274,670	248,563	170,106	170,669	188,119	204,921	185,625	256,664	317,432	238,376	295,226	304,091	271,389	250,564	219,719	266,315	235,132	197,574	121,135	142,517	170,978	145,625	56,214	117,331	105,564	140,637	140,774	107,346	99,537	34,429	27,603	77,515	36,175	-903	-154,708	47,521	71,377	11,451	22,366	59,420	62,571	31,675	17,335	83,743	103,798	134,398	110,164	69,174	84,044	101,639	78,265	82,340	26,948	26,496	0	0	0	0	0	0	0	0
Ebitda	227,000	682,000	693,000	828,000	388,000	810,000	1,463,000	1,311,000	1,146,000	909,000	932,000	553,000	386,000	152,000	238,000	337,000	301,000	282,000	374,000	336,000	245,000	585,000	576,000	586,000	397,000	531,172	419,300	398,832	320,579	264,898	255,369	270,635	251,153	317,912	377,772	297,017	355,318	358,011	319,891	296,536	261,233	307,043	275,342	232,930	156,075	180,941	206,761	181,019	89,367	150,192	138,369	173,215	173,184	139,547	131,630	66,457	59,492	49,023	67,088	28,084	-124,309	75,232	99,192	37,452	48,648	86,318	89,121	56,219	41,812	105,010	124,404	155,160	131,112	88,636	104,861	123,109	96,927	104,006	47,748	47,396	0	-	349,279	-	0	-	-	-
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Profit	169,000	586,000	642,000	792,000	567,000	776,000	1,445,000	1,285,000	1,096,000	1,018,000	872,000	509,000	323,000	248,000	169,000	283,000	250,000	371,000	340,000	299,000	354,000	539,000	552,000	542,000	498,000	498,052	405,834	367,143	281,478	202,133	241,366	255,585	236,188	311,276	353,181	284,546	362,849	361,520	305,971	287,010	295,671	304,471	273,487	227,809	190,248	172,179	201,896	172,637	77,260	147,067	167,095	167,584	164,124	134,855	126,024	57,680	46,864	72,538	55,662	20,064	-135,583	71,787	96,460	36,704	43,020	86,060	84,431	57,889	31,037	109,176	125,212	131,058	135,104	89,264	99,480	119,783	98,338	84,511	60,168	38,800	195,303	0	349,279	0	148,784	0	0	0
Income Before Tax	-558,000	365,000	377,000	516,000	305,000	496,000	1,148,000	997,000	845,000	813,000	694,000	325,000	156,000	54,000	5,000	116,000	73,000	216,000	168,000	113,000	176,000	391,000	381,000	386,000	325,000	327,769	227,606	200,593	114,477	63,462	182,204	198,236	177,729	248,453	308,474	228,785	286,056	294,605	261,850	241,407	258,072	263,018	229,789	191,293	148,708	125,200	176,466	134,795	39,248	106,061	127,199	128,924	128,686	96,966	90,573	26,735	15,385	41,707	28,683	-7,022	-174,211	41,962	66,488	7,739	16,033	55,368	57,492	30,064	8,358	86,847	106,010	81,334	108,986	65,116	75,603	95,623	75,397	45,912	34,677	16,100	16,939	-940	940	20,485	0	0	0	0
Income Tax Expense	-71,000	70,000	70,000	109,000	57,000	84,000	275,000	233,000	184,000	193,000	158,000	72,000	33,000	-15,000	-19,000	-41,000	-12,000	50,000	39,000	31,000	45,000	73,000	93,000	89,000	-491,000	108,619	68,188	55,883	9,188	-6,552	66,584	69,300	61,572	60,033	98,413	78,378	98,671	124,449	92,407	83,375	87,100	92,728	83,973	67,946	53,431	38,236	60,965	46,982	12,805	38,131	46,150	45,380	44,613	34,235	33,631	9,088	2,932	11,941	11,832	-947	-64,644	14,598	19,215	2,352	-2,793	17,027	19,602	10,392	-6,039	25,191	38,841	29,997	35,364	21,590	27,077	34,480	28,071	17,595	12,137	5,400	6,304	-385	-6,727	7,587	0	0	0	0
Interest Expense	41,000	40,000	42,000	42,000	43,000	44,000	44,000	46,000	46,000	61,000	36,000	33,000	34,000	37,000	40,000	31,000	35,000	31,000	28,000	30,000	30,000	28,000	31,000	37,000	40,000	40,036	38,972	39,776	42,507	24,366	5,915	6,685	7,896	8,211	8,958	9,591	9,170	9,486	9,539	9,157	3,161	3,297	5,343	6,281	7,367	11,934	11,571	12,177	12,543	12,727	12,802	12,920	11,301	11,002	8,784	8,788	8,794	8,772	8,795	8,596	33,957	8,093	9,287	8,528	18,422	4,692	4,495	3,593	16,519	3,432	3,898	6,026	23,717	5,834	5,879	6,154	49,746	10,144	10,998	10,396	10,991	10,148	9,043	8,407	33,305	0	0	0
Interest Income	0	40,000	42,000	42,000	43,000	44,000	44,000	46,000	46,000	61,000	36,000	33,000	34,000	37,000	40,000	31,000	35,000	8,000	28,000	30,000	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	-	0	-	0	-	-	-
Minority Interest	-10,000	-10,000	10,000	13,000	16,000	11,000	15,000	-8,000	17,000	13,000	568,000	11,000	10,000	12,000	9,000	12,000	13,000	8,000	10,000	10,000	8,000	10,000	10,000	10,000	13,571	8,318	6,591	6,520	6,344	4,352	4,496	5,808	5,188	4,816	4,966	4,065	-4,094	-2,399	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,057	0	-2,472	2,472	0	0	0	0
Net Income	-497,000	285,000	297,000	394,000	232,000	399,000	858,000	752,000	641,000	604,000	520,000	241,000	113,000	57,000	14,000	145,000	72,000	157,000	118,000	71,000	122,000	307,000	276,000	285,000	797,781	210,000	152,000	137,000	98,508	65,368	110,620	122,579	108,797	183,409	204,842	146,142	182,888	167,404	169,083	157,648	170,101	169,703	145,304	122,779	95,277	86,512	114,895	87,203	26,443	67,930	81,049	83,544	84,073	62,731	56,942	17,647	12,453	29,766	16,851	-6,075	-109,567	27,364	47,273	5,387	18,826	38,341	37,890	19,672	14,397	61,656	67,169	51,337	73,622	43,526	48,526	61,143	47,326	28,317	22,540	10,700	10,635	-3,027	6,727	10,426	-16,927	16,927	0	0
Net Income Applicable To Common Shares	0	283,000	297,000	394,000	232,000	401,000	858,000	756,000	644,000	607,000	520,000	242,000	113,000	57,000	15,000	145,000	72,000	158,000	119,000	72,000	123,000	308,000	278,000	287,000	802,151	210,832	152,827	138,190	98,945	65,662	111,124	123,128	110,969	183,604	205,095	146,342	183,291	167,757	169,443	158,032	170,972	170,290	145,816	123,347	95,277	86,964	115,501	87,813	26,443	67,930	81,049	83,544	84,073	62,731	56,942	17,647	12,453	29,766	16,851	0	-27,364	27,364	47,273	5,387	18,826	38,341	37,890	19,672	14,397	61,656	67,169	51,337	73,622	43,526	48,526	61,143	47,326	28,317	34,394	10,685	10,635	-3,027	3,027	10,426	-16,927	16,927	0	0
Net Income From Continuing Ops	-487,000	295,000	307,000	407,000	248,000	412,000	873,000	764,000	661,000	620,000	536,000	253,000	123,000	69,000	24,000	157,000	23,000	166,000	129,000	144,000	-379,000	464,000	474,000	475,000	-165,658	436,388	295,794	256,476	123,665	56,910	248,788	267,536	239,301	308,486	406,887	307,163	384,727	419,054	354,257	324,782	834,466	170,290	145,816	123,347	95,277	86,487	99,549	87,813	0	67,930	81,049	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-107,000	-40,000	-42,000	-42,000	-43,000	-44,000	-44,000	-46,000	-46,000	-61,000	-36,000	-33,000	-34,000	-37,000	-40,000	-31,000	-51,000	-23,000	-28,000	-30,000	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	-	0	-	0	-	-	-
Non Operating Income Net Other	0	0	23,000	22,000	21,000	24,000	17,000	11,000	18,000	13,000	10,000	12,000	12,000	12,000	9,000	11,000	6,000	21,000	2,000	9,000	-1,000	23,000	8,000	22,000	409	2,058	-538	5,071	4,307	41,265	8,181	2,645	4,480	2,636	22,058	9,096	-7,161	-2,670	4,601	2,509	3,653	-287	-95	3,519	-156	-5,860	1,107	1,347	0	1,457	1,632	0	0	0	0	0	0	0	0	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	2,000	0	37,000	0	0	0	13,000	5,000	8,000	7,000	6,051	6,663	8,092	8,194	20,831	82,841	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-55,000	349,000	396,000	536,000	327,000	516,000	1,175,000	1,032,000	873,000	861,000	720,000	346,000	178,000	79,000	36,000	136,000	102,000	226,000	194,000	134,000	207,000	396,000	404,000	401,000	365,000	372,410	267,116	235,298	152,677	46,563	179,938	202,276	181,145	254,028	295,374	229,280	302,387	306,761	266,788	248,055	257,580	266,602	235,227	194,055	156,231	142,517	170,978	145,625	50,459	117,331	138,369	140,637	137,052	107,346	99,537	34,429	22,962	49,023	36,175	-903	-165,763	48,788	73,576	13,859	20,021	59,755	62,279	32,666	8,508	87,011	106,853	110,879	112,500	70,062	82,763	101,708	81,400	68,940	46,413	26,900	23,106	8,334	349,279	25,382	11,752	0	0	0
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	2,881,000	2,766,000	2,852,000	2,817,000	2,963,000	3,434,000	3,301,000	3,013,000	2,619,000	2,188,000	2,139,000	2,011,000	1,787,000	1,785,000	1,671,000	1,796,000	1,776,000	1,832,000	1,948,000	1,869,000	1,775,000	1,854,000	1,823,000	1,742,000	1,639,000	1,736,479	1,703,953	1,699,124	1,569,381	1,149,624	906,123	772,911	805,621	934,009	889,628	874,251	833,484	946,466	731,788	779,621	694,045	737,563	703,820	670,592	644,810	678,658	742,980	889,242	808,716	851,041	786,680	726,615	658,335	672,331	718,852	743,905	607,074	583,548	538,690	489,154	762,871	1,024,947	1,032,873	901,202	830,531	780,435	720,385	686,136	515,395	585,406	562,414	507,900	523,939	535,329	497,896	516,908	481,669	503,091	378,714	374,000	0	0	0	0	0	0	0	0
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	-	0	-	-	-
Reconciled Depreciation	282,000	277,000	271,000	267,000	271,000	264,000	264,000	257,000	240,000	203,000	202,000	195,000	196,000	196,000	191,000	190,000	188,000	178,000	176,000	171,000	168,000	161,000	156,000	156,000	152,467	153,634	144,630	150,269	150,473	94,229	67,250	65,714	65,528	61,248	60,340	58,641	60,092	53,920	48,502	45,972	41,514	40,728	40,210	35,356	34,940	38,424	35,783	35,394	33,153	32,861	32,805	32,578	32,410	32,201	32,093	32,028	31,889	31,409	30,914	28,987	30,399	27,711	27,815	26,001	26,282	26,898	26,550	24,544	24,477	21,267	20,606	20,762	20,948	19,462	20,817	21,470	18,662	21,666	20,800	20,900	0	-	0	-	0	-	-	-
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	0	0	0	0	26,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	81,919	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	-	0	-	-	-
Selling General Administrative	224,000	206,000	213,000	222,000	174,000	215,000	220,000	200,000	168,000	122,000	125,000	136,000	117,000	108,000	104,000	120,000	115,000	110,000	117,000	116,000	108,000	114,000	115,000	108,000	19,081	125,642	130,626	123,651	115,679	72,729	61,428	53,309	55,043	57,248	57,807	55,266	60,462	54,759	39,183	38,955	38,091	37,869	38,260	33,754	34,017	29,662	30,918	27,012	26,801	29,736	28,726	26,947	27,072	27,509	26,487	23,251	23,902	23,515	19,487	20,967	30,180	22,999	22,884	22,845	22,999	26,305	22,152	25,223	22,529	22,165	18,359	20,179	22,604	19,202	16,717	18,075	18,987	15,055	13,098	11,900	12,538	12,103	14,098	18,275	58,783	0	0	0
Tax Provision	-71,000	70,000	70,000	109,000	57,000	84,000	275,000	233,000	184,000	193,000	158,000	72,000	33,000	-15,000	-19,000	-41,000	-12,000	50,000	39,000	31,000	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	-	0	-	0	-	-	-
Total Operating Expenses	224,000	237,000	243,000	253,000	231,000	254,000	263,000	242,000	208,000	151,000	152,000	163,000	145,000	135,000	131,000	147,000	143,000	137,000	144,000	143,000	134,000	138,000	140,000	134,000	127,000	125,642	130,626	123,651	115,679	72,729	61,428	53,309	55,043	57,248	57,807	55,266	60,462	54,759	39,183	38,955	38,091	37,869	38,260	33,754	34,017	29,662	30,918	27,012	26,801	29,736	28,726	26,947	27,072	27,509	26,487	23,251	23,902	23,515	19,487	20,967	30,180	22,999	22,884	22,845	22,999	26,335	22,152	25,223	22,529	22,165	18,359	20,179	22,604	19,202	16,717	18,075	16,938	15,571	13,755	11,900	0	0	0	0	0	0	0	0
Total Other Income Expense Net	-503,000	56,000	20,000	-20,000	-22,000	-20,000	-27,000	-35,000	3,000	7,000	10,000	12,000	12,000	-22,000	7,000	11,000	1,000	13,000	-26,000	-13,000	-14,000	18,000	-23,000	15,000	-6,000	-5,249	-8,630	-3,123	-8,815	-41,576	8,181	2,645	4,480	2,636	22,058	9,096	-7,161	-2,670	4,601	2,509	3,653	-287	-95	3,519	-156	-5,383	17,059	1,347	-1,533	1,457	1,632	1,207	1,425	622	-180	1,094	394	1,456	1,303	2,477	-4,959	1,267	2,199	2,408	451	305	-292	991	-7,061	3,268	3,055	-23,519	2,336	888	-1,281	69	3,135	-13,400	-1,335	-10,800	0	0	0	0	0	0	0	0
Total Revenue	2,826,000	3,115,000	3,251,000	3,356,000	3,299,000	3,956,000	4,483,000	4,056,000	3,507,000	3,055,000	2,859,000	2,357,000	1,965,000	1,898,000	1,709,000	1,932,000	1,883,000	2,066,000	2,144,000	2,025,000	1,995,000	2,255,000	2,235,000	2,150,000	2,010,000	2,108,889	1,979,161	1,942,616	1,735,180	1,279,028	1,086,061	975,187	986,766	1,188,037	1,185,002	1,103,531	1,135,871	1,253,227	998,576	1,027,676	951,625	1,004,165	939,047	864,647	801,041	821,175	913,958	1,034,867	859,175	968,372	925,049	867,252	795,387	779,677	818,389	778,334	630,036	632,571	574,865	488,251	597,108	1,073,735	1,106,449	915,061	850,552	840,160	782,664	718,802	523,903	672,417	669,267	618,779	636,439	605,391	580,659	618,616	563,069	572,031	425,127	400,900	365,879	358,598	349,279	380,573	282,016	304,987	282,480	203,144

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

Gross Profit (+$)
totalRevenue	12,548,000
Cost of Revenue	-10,451,000
Gross Profit	2,097,000	2,097,000

Operating Income (+$)
Gross Profit	2,097,000
Operating Expense	-865,000
Operating Income	1,232,000	1,232,000

Operating Expense (+$)
Research Development	0
Selling General Administrative	865,000
Selling And Marketing Expenses	0
Operating Expense	865,000	865,000

Net Interest Income (+$)
Interest Income	78,000
Interest Expense	-165,000
Other Finance Cost	-78,000
Net Interest Income	-165,000

Pretax Income (+$)
Operating Income	1,232,000
Net Interest Income	-165,000
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	700,000	1,764,000 EBIT - interestExpense = 1,067,000 657,000 644,000
Interest Expense	165,000
Earnings Before Interest and Taxes (EBIT)	1,232,000	865,000
Earnings Before Interest and Taxes (EBITDA)	2,329,000

After tax Income (+$)
Income Before Tax	700,000
Tax Provision	-178,000
Net Income From Continuing Ops	522,000	522,000
Net Income	479,000
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	11,316,000
Total Other Income/Expenses Net	-532,000	165,000

Technical Analysis of Westlake
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 Westlake. The general trend of Westlake is UNKNOWN with 0.0% 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 Westlake'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 State	Bullish trend		Bearish trend
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 Westlake Chemical Corporation.

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

Between support/resistance: The price is trading between support and resistance lines.

The bullish price targets are: 162.64.

The bearish price targets are: 144.27 > 132.33 > 132.06.

Tweet this

Westlake Chemical Corporation 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 Westlake Chemical Corporation. The current mas is .

Directionalities and relatives.

Moving Average	Amount of candles	Trend	Price +/-	vs. MA 50	vs. MA 100	vs. MA 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.

Westlake Chemical Corporation 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 Westlake Chemical Corporation.

Westlake Chemical Corporation 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 Westlake Chemical Corporation. The current adx is .

Westlake Chemical Corporation 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 Westlake Chemical Corporation.

Westlake Chemical Corporation 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 Westlake Chemical Corporation.

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.

Westlake Chemical Corporation 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 Westlake Chemical Corporation.

Westlake Chemical Corporation 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 Westlake Chemical Corporation.

Westlake Chemical Corporation 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 Westlake Chemical Corporation.

Westlake Chemical Corporation 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 Westlake Chemical Corporation.

Westlake Chemical Corporation 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 Westlake Chemical Corporation.

Westlake Chemical Corporation 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 Westlake Chemical Corporation.

Westlake Chemical Corporation 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 Westlake Chemical Corporation.

Westlake Chemical Corporation 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 Westlake Chemical Corporation.

Westlake Chemical Corporation Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for Westlake Chemical Corporation.

6.2. Trading Signals

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

Date	Indicator	Signal
2023-12-20	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-22	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-28	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-02	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-03	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-04	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-05	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-09	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-01-10	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-11	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-01-12	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-16	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-17	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-18	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.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-01-19	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-22	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-24	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).
2024-01-25	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-26	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-29	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-01-31	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).
2024-02-01	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-02-02	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-02-06	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-02-07	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-02-08	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.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-02-09	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-12	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-13	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-14	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-02-15	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
2024-02-20	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
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-22	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-23	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-02-29	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-03-01	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-03-04	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-03-05	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2024-03-06	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-11	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-13	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
2024-03-14	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-15	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	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).
2024-03-18	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-19	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-20	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-22	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-27	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-02	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-03	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-04-05	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).
2024-04-08	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-09	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-04-10	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-04-12	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-04-16	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-04-17	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-04-19	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.
2024-04-22	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-24	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.
2024-04-25	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-04-26	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-29	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-04-30	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-05-01	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-05-03	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-05-07	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.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-05-08	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-05-09	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.

6.3. Candlestick Patterns

Westlake Chemical Corporation Daily Candlestick Chart

Date	Candlestick Pattern

6.4. Technical Score

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

Penke's Symbol Scanner

Indicator	Condition		Value
Open	Greater than	Close	158.740
Total			1/1 (100.0%)

Create your own Symbol Scanner

Get notifications about Westlake Chemical Corporation

I send you an email if I find something interesting about Westlake Chemical Corporation.

Westlake Chemical Corporation Buy, Hold or Sell?

Let's analyse Westlake together

Get notifications about Westlake Chemical Corporation

Quick analysis of Westlake (30 sec.)

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

$156.27

$83.76

$50.84 - $153.98

$134.59 - $237.74

2. Growth of Westlake (5 min.)

Is Westlake growing?

How much money is Westlake making?

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

3. Financial Health of Westlake (5 min.)

4. Comparing to competitors in the Specialty Chemicals industry (5 min.)

Industry Rankings (Specialty Chemicals)

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

What can you expect buying and holding a share of Westlake?

Speculation

Investing

How much money are you going to get?

When do you get the money?

How sure are you?

Linear %

Fundamentals of Westlake

About Westlake Chemical Corporation

Financial Health

Valuation

1.1. Profitability of Westlake Chemical Corporation.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

Compared to industry (Specialty Chemicals)

1.1.2. Return on Assets

Trends

Compared to industry (Specialty Chemicals)

1.1.3. Return on Equity

Trends

Compared to industry (Specialty Chemicals)

1.2. Operating Efficiency of Westlake Chemical Corporation.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

Compared to industry (Specialty Chemicals)

1.2.2. Operating Ratio

Trends

Compared to industry (Specialty Chemicals)

1.3. Liquidity of Westlake Chemical Corporation.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Specialty Chemicals)

1.3.2. Quick Ratio

Trends

Compared to industry (Specialty Chemicals)

1.4. Solvency of Westlake Chemical Corporation.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

Compared to industry (Specialty Chemicals)

1.4.2. Debt to Equity Ratio

Trends

Compared to industry (Specialty Chemicals)

2. Market Valuation of Westlake Chemical Corporation

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Specialty Chemicals)

Westlake Chemical Corporation
Buy, Hold or Sell?