Yongjin Technology Group Co., Ltd. (603995.SS)

Analysis: Margins & Ratios Industry: Steel Sector: Basic Materials Live Price: $18.91

Income Statement Margins

Metric	3Y Avg	5Y Avg	10Y Avg	TTM	TTM-1	2024-12-31	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
Revenue	5,738,220,696	4,913,593,717	3,257,828,406	6,026,555,569	6,133,268,778	5,941,309,491	5,659,290,845	5,614,061,753	4,451,771,621	2,901,534,875	2,246,434,657	2,221,248,336	1,726,742,031	1,155,704,006	660,186,443
Cost of Revenue	5,448,685,374	4,662,859,422	3,080,712,791	5,714,146,287	5,800,441,920	5,600,067,670	5,388,450,189	5,357,538,263	4,216,541,698	2,751,699,290	2,120,261,643	2,088,163,275	1,622,755,900	1,056,912,395	604,737,589
Cost of Revenue Margin	94.97%	94.89%	93.99%	94.82%	94.57%	94.26%	95.21%	95.43%	94.72%	94.84%	94.38%	94.01%	93.98%	91.45%	91.60%
Gross Profit	289,535,322	250,734,295	177,115,614	312,409,282	332,826,858	341,241,821	270,840,656	256,523,490	235,229,923	149,835,584	126,173,014	133,085,061	103,986,131	98,791,611	55,448,854
Gross Profit Margin	5.03%	5.11%	6.01%	5.18%	5.43%	5.74%	4.79%	4.57%	5.28%	5.16%	5.62%	5.99%	6.02%	8.55%	8.40%
R&D Expenses	112,628,944	89,502,557	57,521,789	118,607,154	122,717,440	124,204,940	110,385,249	103,296,644	78,721,417	30,904,535	31,594,952	31,141,174	22,709,034	21,614,276	20,645,668
R&D Expenses Margin	1.96%	1.74%	1.78%	1.97%	2.00%	2.09%	1.95%	1.84%	1.77%	1.07%	1.41%	1.40%	1.32%	1.87%	3.13%
SG&A Expenses	14,512,856	16,399,264	15,752,108	6,640,905	35,716,072	16,994,279	14,611,727	11,932,562	10,558,811	27,898,939	18,362,198	19,002,957	14,384,776	12,358,630	11,416,204
SG&A Expenses Margin	0.25%	0.39%	0.73%	0.11%	0.58%	0.29%	0.26%	0.21%	0.24%	0.96%	0.82%	0.86%	0.83%	1.07%	1.73%
Operating Expenses	153,224,768	125,105,422	85,053,868	180,503,486	171,465,631	173,588,742	160,483,022	125,602,540	102,060,934	63,791,873	54,268,216	55,738,990	42,876,996	39,428,899	32,698,472
Operating Expenses Margin	2.66%	2.50%	2.83%	3.00%	2.80%	2.92%	2.84%	2.24%	2.29%	2.20%	2.42%	2.51%	2.48%	3.41%	4.95%
Operating Income (EBIT)	127,091,226	118,295,185	84,117,447	131,905,795	147,579,526	167,653,078	110,357,633	103,262,967	123,739,390	86,462,858	68,095,182	69,396,352	50,644,466	48,045,765	13,516,782
Operating Income (EBIT) Margin	2.20%	2.47%	2.77%	2.19%	2.41%	2.82%	1.95%	1.84%	2.78%	2.98%	3.03%	3.12%	2.93%	4.16%	2.05%
Interest Income	2,610,661	2,385,529	2,082,601	4,689,395	7,926,495	2,720,823	2,895,555	2,215,606	1,433,005	2,662,657	458,456	292,597	256,940	355,771	7,534,603
Interest Income Margin	0.05%	0.05%	0.15%	0.08%	0.13%	0.05%	0.05%	0.04%	0.03%	0.09%	0.02%	0.01%	0.01%	0.03%	1.14%
Interest Expense	16,771,351	12,543,302	8,453,821	30,186,178	22,300,772	21,022,916	15,814,353	13,476,784	7,614,301	4,788,156	2,994,902	5,946,971	5,854,402	7,025,425	0
Interest Expense Margin	0.29%	0.24%	0.26%	0.50%	0.36%	0.35%	0.28%	0.24%	0.17%	0.17%	0.13%	0.27%	0.34%	0.61%	0.00%
Net Interest Income	-14,160,690	-10,157,773	-6,493,112	-25,496,783	-11,063,176	-18,302,093	-12,918,798	-11,261,178	-6,181,296	-2,125,499	-2,674,669	-5,798,622	-5,924,073	-7,279,493	7,534,603
Net Interest Income Margin	-0.25%	-0.19%	-0.12%	-0.42%	-0.18%	-0.31%	-0.23%	-0.20%	-0.14%	-0.07%	-0.12%	-0.26%	-0.34%	-0.63%	1.14%
Unusual Items	14,482,471	10,299,231	6,190,133	26,538,306	54,682	19,113,914	12,936,198	11,397,301	6,276,277	1,772,466	2,228,415	5,612,472	5,439,006	5,311,993	-8,186,712
Unusual Items Margin	0.25%	0.19%	0.08%	0.44%	0.00%	0.32%	0.23%	0.20%	0.14%	0.06%	0.10%	0.25%	0.31%	0.46%	-1.24%
EBT Excluding Unusual Items	112,286,974	107,854,496	78,108,401	104,325,966	161,844,440	147,727,344	97,404,035	91,729,544	117,368,132	85,043,424	66,174,798	63,825,783	45,363,917	44,091,433	22,355,603
EBT Excluding Unusual Items Margin	1.95%	2.28%	2.71%	1.73%	2.64%	2.49%	1.72%	1.63%	2.64%	2.93%	2.95%	2.87%	2.63%	3.82%	3.39%
Pre-Tax Income	126,769,445	118,153,727	84,298,534	130,864,272	161,899,122	166,841,258	110,340,233	103,126,845	123,644,409	86,815,890	68,403,213	69,438,255	50,802,923	49,403,426	14,168,891
Pre-Tax Income Margin	2.20%	2.47%	2.79%	2.17%	2.64%	2.81%	1.95%	1.84%	2.78%	2.99%	3.04%	3.13%	2.94%	4.27%	2.15%
Income Tax Expense	23,407,887	22,033,734	16,229,434	22,958,794	30,800,930	30,039,724	22,595,334	17,588,602	22,885,058	17,059,954	13,375,639	14,444,310	11,871,266	9,405,790	3,028,666
Income Tax Expense Margin	0.41%	0.46%	0.55%	0.38%	0.50%	0.51%	0.40%	0.31%	0.51%	0.59%	0.60%	0.65%	0.69%	0.81%	0.46%
Net Income	82,558,996	78,078,472	56,137,333	95,263,226	102,401,434	114,286,723	64,295,944	69,094,320	83,893,745	58,821,629	47,236,811	47,008,878	30,806,205	34,897,886	11,031,190
Net Income Margin	1.43%	1.64%	1.89%	1.58%	1.67%	1.92%	1.14%	1.23%	1.88%	2.03%	2.10%	2.12%	1.78%	3.02%	1.67%
Depreciation and Amortization	63,305,546	50,929,612	35,063,943	0	65,928,251	75,506,576	62,695,237	51,714,826	38,077,571	26,653,851	22,483,806	21,956,273	21,480,595	18,495,849	11,574,846
Depreciation and Amortization Margin	1.10%	1.01%	1.17%	0.00%	1.07%	1.27%	1.11%	0.92%	0.86%	0.92%	1.00%	0.99%	1.24%	1.60%	1.75%
EBITDA	206,611,021	181,284,273	129,178,897	155,487,557	231,565,057	263,552,707	187,961,901	168,318,455	169,336,282	117,252,022	93,881,921	96,686,771	81,863,875	78,609,810	34,325,227
EBITDA Margin	3.59%	3.72%	4.39%	2.58%	3.78%	4.44%	3.32%	3.00%	3.80%	4.04%	4.18%	4.35%	4.74%	6.80%	5.20%
NOPAT	103,625,690	96,237,220	67,926,283	108,764,276	119,502,866	137,467,186	87,758,736	85,651,149	100,836,753	69,472,277	54,779,776	54,960,758	38,810,227	38,898,457	10,627,507
NOPAT Margin	1.80%	2.01%	2.22%	1.80%	1.95%	2.31%	1.55%	1.53%	2.27%	2.39%	2.44%	2.47%	2.25%	3.37%	1.61%
Owner's Earnings	-52,693,967	-57,712,764	-20,896,460	-26,044,479	-61,493,257	23,672,766	-63,751,180	-118,003,488	-126,068,148	-4,413,768	22,724,106	41,135,797	36,066,384	17,847,750	-38,174,816
Owner's Earnings Margin	-0.94%	-1.16%	-0.51%	-0.43%	-1.00%	0.40%	-1.13%	-2.10%	-2.83%	-0.15%	1.01%	1.85%	2.09%	1.54%	-5.78%

Balance Sheet Margins

Metric	3Y Avg	5Y Avg	10Y Avg	2024-12-31	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
Revenue	5,738,220,696	4,913,593,717	3,257,828,406	5,941,309,491	5,659,290,845	5,614,061,753	4,451,771,621	2,901,534,875	2,246,434,657	2,221,248,336	1,726,742,031	1,155,704,006	660,186,443
Cash & Cash Equivalents	154,469,178	177,744,218	120,917,985	196,291,474	150,581,491	116,534,568	244,255,811	181,057,747	200,139,105	45,959,440	32,729,241	22,224,953	19,406,014
Cash & Cash Equivalents Margin	2.68%	3.95%	3.75%	3.30%	2.66%	2.08%	5.49%	6.24%	8.91%	2.07%	1.90%	1.92%	2.94%
Short-Term Investments	1,245,487	1,710,047	862,912	0	46,282	3,690,180	2,622,444	2,191,331	31,824	5,835	0	0	41,219
Short-Term Investments Margin	0.02%	0.04%	0.02%	0.00%	0.00%	0.07%	0.06%	0.08%	0.00%	0.00%	0.00%	0.00%	0.01%
Cash & Short-Term Investments	155,714,665	179,454,266	121,780,896	196,291,474	150,627,774	120,224,748	246,878,255	183,249,078	200,170,929	45,965,276	32,729,241	22,224,953	19,447,233
Cash & Short-Term Investments Margin	2.70%	3.99%	3.77%	3.30%	2.66%	2.14%	5.55%	6.32%	8.91%	2.07%	1.90%	1.92%	2.95%
Net Receivables	122,071,649	98,381,409	62,350,113	133,835,789	149,548,920	82,830,237	85,010,073	40,682,023	27,204,740	25,273,704	41,336,250	23,311,261	14,468,129
Net Receivables Margin	2.12%	1.94%	1.86%	2.25%	2.64%	1.48%	1.91%	1.40%	1.21%	1.14%	2.39%	2.02%	2.19%
Inventory	328,578,292	262,254,394	162,896,914	396,455,916	326,677,297	262,601,663	224,595,752	100,941,341	72,554,373	64,069,064	78,838,695	69,925,143	32,309,898
Inventory Margin	5.71%	5.13%	4.73%	6.67%	5.77%	4.68%	5.05%	3.48%	3.23%	2.88%	4.57%	6.05%	4.89%
Other Current Assets	19,069,733	19,557,473	20,665,000	37,980,566	666,093	18,562,540	19,791,073	20,787,092	50,420,983	8,625,255	16,219,155	16,139,807	17,457,437
Other Current Assets Margin	0.33%	0.43%	0.98%	0.64%	0.01%	0.33%	0.44%	0.72%	2.24%	0.39%	0.94%	1.40%	2.64%
Total Current Assets	686,479,601	611,437,486	400,186,370	858,998,358	666,181,911	534,258,532	629,218,096	368,530,532	394,977,807	137,694,444	171,961,942	156,400,596	83,641,479
Total Current Assets Margin	11.92%	12.52%	12.25%	14.46%	11.77%	9.52%	14.13%	12.70%	17.58%	6.20%	9.96%	13.53%	12.67%
Property, Plant & Equipment	990,170,081	825,710,906	548,686,441	1,076,041,011	1,009,278,446	885,190,786	698,375,166	459,669,122	306,203,211	257,636,220	265,232,401	275,566,191	253,671,853
Property, Plant & Equipment Margin	17.24%	16.65%	18.61%	18.11%	17.83%	15.77%	15.69%	15.84%	13.63%	11.60%	15.36%	23.84%	38.42%
Goodwill	5,180,275	4,426,722	2,213,361	2,277,870	7,099,936	6,163,019	6,592,786	0	0	0	0	0	0
Goodwill Margin	0.09%	0.08%	0.04%	0.04%	0.13%	0.11%	0.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Intangible Assets	85,615,386	71,260,185	46,861,002	97,617,572	95,225,789	64,002,796	53,322,766	46,132,000	25,827,316	26,488,187	20,611,069	19,869,536	19,512,989
Intangible Assets Margin	1.49%	1.45%	1.55%	1.64%	1.68%	1.14%	1.20%	1.59%	1.15%	1.19%	1.19%	1.72%	2.96%
Long-Term Investments	-417,562	-730,730	229,949	0	1,231,088	-2,483,775	-1,416,039	-984,926	1,174,581	1,200,569	1,206,405	1,206,405	1,165,186
Long-Term Investments Margin	-0.01%	-0.02%	0.04%	0.00%	0.02%	-0.04%	-0.03%	-0.03%	0.05%	0.05%	0.07%	0.10%	0.18%
Tax Assets	1,491,415	1,158,140	699,702	1,842,547	1,789,937	841,761	1,129,987	186,467	181,733	162,807	379,577	322,166	160,035
Tax Assets Margin	0.03%	0.02%	0.02%	0.03%	0.03%	0.01%	0.03%	0.01%	0.01%	0.01%	0.02%	0.03%	0.02%
Other Non-Current Assets	7,407,640	8,588,001	7,436,347	7,525,151	5,060,553	9,637,217	13,362,878	7,354,208	8,237,053	5,039,458	7,890,730	7,881,931	2,374,292
Other Non-Current Assets Margin	0.13%	0.19%	0.30%	0.13%	0.09%	0.17%	0.30%	0.25%	0.37%	0.23%	0.46%	0.68%	0.36%
Other Assets	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Non-Current Assets	1,089,447,235	910,413,224	606,126,802	1,185,304,151	1,119,685,748	963,351,805	771,367,545	512,356,872	341,623,894	290,527,242	295,320,181	304,846,229	276,884,355
Total Non-Current Assets Margin	18.96%	18.38%	20.56%	19.95%	19.78%	17.16%	17.33%	17.66%	15.21%	13.08%	17.10%	26.38%	41.94%
Total Assets	1,775,926,835	1,521,850,710	1,006,313,172	2,044,302,510	1,785,867,660	1,497,610,336	1,400,585,642	880,887,404	736,601,701	428,221,685	467,282,123	461,246,825	360,525,835
Total Assets Margin	30.88%	30.89%	32.81%	34.41%	31.56%	26.68%	31.46%	30.36%	32.79%	19.28%	27.06%	39.91%	54.61%
Accounts Payable	240,120,824	202,087,466	132,730,346	337,928,362	150,061,286	232,372,824	209,233,004	80,841,856	89,911,423	16,620,184	64,383,668	64,415,016	81,535,834
Accounts Payable Margin	4.16%	3.99%	4.64%	5.69%	2.65%	4.14%	4.70%	2.79%	4.00%	0.75%	3.73%	5.57%	12.35%
Short-Term Debt	211,574,822	154,082,309	121,464,895	230,773,356	223,065,671	180,885,439	61,699,703	73,987,379	60,218,203	70,221,959	89,273,970	121,528,110	102,995,155
Short-Term Debt Margin	3.68%	3.00%	5.21%	3.88%	3.94%	3.22%	1.39%	2.55%	2.68%	3.16%	5.17%	10.52%	15.60%
Tax Payables	13,502,345	13,028,922	9,804,140	18,882,217	12,107,387	9,517,430	11,192,585	13,444,988	7,119,996	9,610,437	7,847,419	5,529,008	2,789,931
Tax Payables Margin	0.23%	0.28%	0.35%	0.32%	0.21%	0.17%	0.25%	0.46%	0.32%	0.43%	0.45%	0.48%	0.42%
Deferred Revenue	29,036,471	72,473,675	40,749,625	0	0	87,109,413	157,658,515	117,600,449	10,960,488	9,610,437	11,501,785	8,788,750	4,266,411
Deferred Revenue Margin	0.52%	1.83%	1.21%	0.00%	0.00%	1.55%	3.54%	4.05%	0.49%	0.43%	0.67%	0.76%	0.65%
Other Current Liabilities	144,269,031	127,392,635	89,069,841	168,834,861	260,237,858	3,734,374	196,530,534	7,625,549	62,040,883	65,333,588	72,701,622	54,783,375	-1,124,236
Other Current Liabilities Margin	2.50%	2.44%	2.67%	2.84%	4.60%	0.07%	4.41%	0.26%	2.76%	2.94%	4.21%	4.74%	-0.17%
Total Current Liabilities	651,111,984	548,161,619	383,579,278	779,083,366	640,713,087	533,539,499	493,295,631	294,176,510	236,217,443	174,048,541	237,861,045	248,769,787	198,087,866
Total Current Liabilities Margin	11.31%	11.03%	13.88%	13.11%	11.32%	9.50%	11.08%	10.14%	10.52%	7.84%	13.78%	21.53%	30.00%
Long-Term Debt	237,144,175	201,079,574	107,400,704	247,143,972	218,991,893	245,296,661	253,521,530	40,443,813	24,795,171	5,165,033	25,875,271	4,257,900	8,515,800
Long-Term Debt Margin	4.13%	3.90%	2.40%	4.16%	3.87%	4.37%	5.69%	1.39%	1.10%	0.23%	1.50%	0.37%	1.29%
Capital Lease Obligations	1,154,272	2,960,365	13,490,761	568,852	2,643,382	250,581	553,163	10,785,849	12,106,793	5,165,033	25,875,271	44,631,994	32,326,694
Capital Lease Obligations Margin	0.02%	0.09%	1.15%	0.01%	0.05%	0.00%	0.01%	0.37%	0.54%	0.23%	1.50%	3.86%	4.90%
Deferred Tax Liabilities	213,672	218,436	221,025	94,403	208,387	338,225	238,897	212,268	213,796	216,010	221,247	227,359	239,653
Deferred Tax Liabilities Margin	0.00%	0.00%	0.01%	0.00%	0.00%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0.04%
Other Non-Current Liabilities	16,490,844	11,908,258	6,648,305	0	46,980,609	2,491,925	0	10,068,756	12,106,794	-5,165,033	0	0	0
Other Non-Current Liabilities Margin	0.29%	0.24%	0.15%	0.00%	0.83%	0.04%	0.00%	0.35%	0.54%	-0.23%	0.00%	0.00%	0.00%
Total Non-Current Liabilities	281,040,145	241,429,303	141,020,539	292,466,146	268,824,270	281,830,018	289,675,355	74,350,728	51,346,479	15,787,964	34,574,046	54,426,347	46,924,040
Total Non-Current Liabilities Margin	4.90%	4.75%	4.06%	4.92%	4.75%	5.02%	6.51%	2.56%	2.29%	0.71%	2.00%	4.71%	7.11%
Total Liabilities	932,152,128	789,590,922	524,599,817	1,071,549,512	909,537,355	815,369,518	782,970,986	368,527,238	287,563,922	189,836,505	272,435,090	303,196,134	245,011,906
Total Liabilities Margin	16.21%	15.78%	17.94%	18.04%	16.07%	14.52%	17.59%	12.70%	12.80%	8.55%	15.78%	26.23%	37.11%
Preferred Stock	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Stock	51,332,987	44,031,580	35,111,245	51,892,038	54,129,286	47,977,636	33,086,778	33,072,160	32,738,993	24,553,890	24,553,890	24,553,890	24,553,890
Common Stock Margin	0.89%	0.91%	1.44%	0.87%	0.96%	0.85%	0.74%	1.14%	1.46%	1.11%	1.42%	2.12%	3.72%
Retained Earnings	358,670,626	311,173,146	208,607,705	424,629,761	342,764,787	308,617,330	270,031,473	209,822,378	176,784,291	139,926,852	101,263,456	71,998,805	40,237,914
Retained Earnings Margin	6.23%	6.40%	6.44%	7.15%	6.06%	5.50%	6.07%	7.23%	7.87%	6.30%	5.86%	6.23%	6.09%
Accumulated OCI	30,727,250	27,618,503	29,657,496	49,394,128	0	42,787,623	35,008,453	10,902,310	13,365,427	39,991,865	36,537,917	35,002,729	33,584,506
Accumulated OCI Margin	0.53%	0.55%	1.54%	0.83%	0.00%	0.76%	0.79%	0.38%	0.59%	1.80%	2.12%	3.03%	5.09%
Minority Interest	136,893,122	112,574,444	71,070,831	159,359,873	138,869,481	112,450,013	86,457,495	65,735,357	37,798,864	33,912,573	32,491,769	26,495,268	17,137,617
Minority Interest Margin	2.38%	2.27%	2.13%	2.68%	2.45%	2.00%	1.94%	2.27%	1.68%	1.53%	1.88%	2.29%	2.60%
Total Shareholders’ Equity	706,881,584	619,685,344	410,642,524	813,393,125	737,460,821	569,790,806	531,157,160	446,624,809	411,238,915	204,472,607	162,355,263	131,555,424	98,376,311
Total Shareholders’ Equity Margin	12.29%	12.84%	12.74%	13.69%	13.03%	10.15%	11.93%	15.39%	18.31%	9.21%	9.40%	11.38%	14.90%
Total Equity	843,774,706	732,259,788	481,713,355	972,752,998	876,330,302	682,240,819	617,614,655	512,360,165	449,037,779	238,385,180	194,847,033	158,050,692	115,513,928
Total Equity Margin	14.67%	15.11%	14.87%	16.37%	15.48%	12.15%	13.87%	17.66%	19.99%	10.73%	11.28%	13.68%	17.50%
Total Liabilities & Equity	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Liabilities & Equity Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Investments	827,925	979,317	1,092,861	0	1,277,370	1,206,405	1,206,405	1,206,405	1,206,405	1,206,405	1,206,405	1,206,405	1,206,405
Total Investments Margin	0.01%	0.02%	0.06%	0.00%	0.02%	0.02%	0.03%	0.04%	0.05%	0.05%	0.07%	0.10%	0.18%
Net Debt	297,446,833	184,841,428	111,484,128	282,194,706	297,530,784	312,615,009	98,493,199	-66,626,555	-115,125,731	24,262,519	85,831,352	103,561,057	92,104,942
Net Debt Margin	5.19%	3.10%	3.93%	4.75%	5.26%	5.57%	2.21%	-2.30%	-5.12%	1.09%	4.97%	8.96%	13.95%

Capital Metrics

Metric	3Y Avg	5Y Avg	10Y Avg	2024-12-31	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
Revenue	5,738,220,696	4,913,593,717	3,257,828,406	5,941,309,491	5,659,290,845	5,614,061,753	4,451,771,621	2,901,534,875	2,246,434,657	2,221,248,336	1,726,742,031	1,155,704,006	660,186,443
Working Capital	35,367,616	63,275,867	16,607,092	79,914,993	25,468,824	719,032	135,922,465	74,354,022	158,760,364	-36,354,097	-65,899,103	-92,369,191	-114,446,387
Working Capital Margin	0.60%	1.48%	-1.63%	1.35%	0.45%	0.01%	3.05%	2.56%	7.07%	-1.64%	-3.82%	-7.99%	-17.34%
Total Capital	1,158,797,595	982,270,991	643,044,637	1,291,879,305	1,185,573,097	998,940,383	873,906,169	561,056,001	496,252,289	274,694,567	280,915,856	257,341,434	209,887,266
Total Capital Margin	20.16%	19.89%	20.42%	21.74%	20.95%	17.79%	19.63%	19.34%	22.09%	12.37%	16.27%	22.27%	31.79%
Capital Employed	1,124,814,851	973,689,091	622,733,894	1,265,219,144	1,145,154,572	964,070,837	907,290,010	586,710,894	500,384,258	254,173,145	229,421,079	212,477,039	162,437,968
Capital Employed Margin	19.57%	19.86%	18.93%	21.30%	20.23%	17.17%	20.38%	20.22%	22.27%	11.44%	13.29%	18.39%	24.60%
Invested Capital	1,004,328,417	804,526,773	522,126,652	1,095,587,831	1,034,991,605	882,405,815	629,650,359	379,998,254	296,113,184	228,735,126	248,186,615	235,116,481	190,481,252
Invested Capital Margin	17.48%	15.94%	16.67%	18.44%	18.29%	15.72%	14.14%	13.10%	13.18%	10.30%	14.37%	20.34%	28.85%

Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	2024-12-31	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
Revenue	5,738,220,696	4,913,593,717	3,257,828,406	5,941,309,491	5,659,290,845	5,614,061,753	4,451,771,621	2,901,534,875	2,246,434,657	2,221,248,336	1,726,742,031	1,155,704,006	660,186,443
Net Income	95,545,240	91,430,202	65,724,205	136,801,533	64,295,944	85,538,242	100,759,352	69,755,936	55,027,574	54,993,945	38,931,657	39,997,636	11,140,228
Net Income Margin	1.65%	1.93%	2.20%	2.30%	1.14%	1.52%	2.26%	2.40%	2.45%	2.48%	2.25%	3.46%	1.69%
Depreciation & Amortization	63,245,355	50,881,640	35,039,957	75,688,533	62,695,237	51,352,293	38,018,287	26,653,851	22,483,806	21,956,279	21,480,594	18,495,844	11,574,846
Depreciation & Amortization Margin	1.10%	1.01%	1.17%	1.27%	1.11%	0.91%	0.85%	0.92%	1.00%	0.99%	1.24%	1.60%	1.75%
Deferred Income Tax	129,185	-107,120	-45,347	0	0	387,555	-916,891	-6,263	-21,139	211,532	-93,333	-144,612	129,681
Deferred Income Tax Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	-0.02%	0.00%	0.00%	0.01%	-0.01%	-0.01%	0.02%
Stock-Based Compensation	-428,124	403,084	201,542	0	-997,766	-286,607	3,094,177	205,618	0	0	0	0	0
Stock-Based Compensation Margin	-0.01%	0.01%	0.01%	0.00%	-0.02%	-0.01%	0.07%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%
Change in Working Capital	-73,902,150	-49,033,315	-26,887,529	-51,122,318	-93,710,572	-76,873,562	-35,075,681	11,615,558	-25,842,759	32,077,718	1,021,280	-41,592,660	10,627,704
Change in Working Capital Margin	-1.30%	-0.85%	-0.59%	-0.86%	-1.66%	-1.37%	-0.79%	0.40%	-1.15%	1.44%	0.06%	-3.60%	1.61%
Accounts Receivable	-32,983,746	-41,610,832	-31,767,064	-75,920,206	-25,526,677	2,495,645	-91,619,068	-17,483,856	-84,147,740	17,794,743	1,278,988	-35,819,215	-8,723,259
Accounts Receivable Margin	-0.56%	-0.87%	-1.16%	-1.28%	-0.45%	0.04%	-2.06%	-0.60%	-3.75%	0.80%	0.07%	-3.10%	-1.32%
Inventory	-61,977,392	-68,606,599	-37,869,059	-75,110,692	-67,186,129	-43,635,355	-128,450,454	-28,650,365	-8,935,132	13,880,936	-8,913,553	-37,364,549	5,674,702
Inventory Margin	-1.08%	-1.42%	-0.98%	-1.26%	-1.19%	-0.78%	-2.89%	-0.99%	-0.40%	0.62%	-0.52%	-3.23%	0.86%
Accounts Payable	39,143,823	72,219,649	48,258,150	99,908,580	53,644,295	-36,121,407	185,910,733	57,756,042	67,261,253	190,513	8,719,370	31,765,538	13,546,580
Accounts Payable Margin	0.66%	1.63%	1.65%	1.68%	0.95%	-0.64%	4.18%	1.99%	2.99%	0.01%	0.50%	2.75%	2.05%
Other Working Capital	15,218,025	8,946,184	7,356,629	99,908,580	-54,642,060	387,555	-916,891	-6,263	-21,139	18,196,782	9,934,833	-4,228,110	4,953,002
Other Working Capital Margin	0.24%	0.14%	0.25%	1.68%	-0.97%	0.01%	-0.02%	0.00%	0.00%	0.82%	0.58%	-0.37%	0.75%
Other Non-Cash Items	46,674,107	30,266,343	18,880,533	14,260,263	96,314,804	29,447,255	11,342,818	-33,427	3,479,486	6,721,241	9,446,622	9,959,509	7,866,754
Other Non-Cash Items Margin	0.82%	0.54%	0.58%	0.24%	1.70%	0.52%	0.25%	0.00%	0.15%	0.30%	0.55%	0.86%	1.19%
Net Cash from Operating Activities	131,263,612	123,840,834	92,905,147	175,628,012	128,597,648	89,565,175	117,222,062	108,191,273	55,148,107	115,749,182	70,880,153	26,860,329	41,209,532
Net Cash from Operating Activities Margin	2.27%	2.64%	3.35%	2.96%	2.27%	1.60%	2.63%	3.73%	2.45%	5.21%	4.10%	2.32%	6.24%
Capital Expenditures (PPE)	-198,498,318	-186,672,876	-112,073,750	-166,302,491	-190,742,361	-238,450,101	-247,980,180	-89,889,248	-46,996,511	-27,829,360	-16,220,415	-35,545,980	-60,780,851
Capital Expenditures (PPE) Margin	-3.47%	-3.82%	-3.57%	-2.80%	-3.37%	-4.25%	-5.57%	-3.10%	-2.09%	-1.25%	-0.94%	-3.08%	-9.21%
Acquisitions (Net)	4,412,791	-8,279,297	11,836,451	0	-10,506,549	23,744,923	-12,987,250	-41,647,611	47,012,204	0	16,250,192	35,606,619	60,891,983
Acquisitions (Net) Margin	0.08%	-0.30%	1.38%	0.00%	-0.19%	0.42%	-0.29%	-1.44%	2.09%	0.00%	0.94%	3.08%	9.22%
Purchases of Investments	-81,079,049	-83,122,255	-64,465,195	-105,773	-16,118,192	-227,013,184	-56,985,037	-115,389,090	-145,464,474	-38,910,827	-17,883,180	-16,847,091	-9,935,100
Purchases of Investments Margin	-1.44%	-1.92%	-2.18%	0.00%	-0.28%	-4.04%	-1.28%	-3.98%	-6.48%	-1.75%	-1.04%	-1.46%	-1.50%
Sales / Maturities of Investments	81,742,667	92,169,338	64,744,520	38,295	20,311,187	224,878,520	57,586,092	158,032,599	103,017,772	41,428,783	16,537,315	15,468,478	10,146,163
Sales / Maturities of Investments Margin	1.46%	2.22%	2.14%	0.00%	0.36%	4.01%	1.29%	5.45%	4.59%	1.87%	0.96%	1.34%	1.54%
Other Investing Activities	-3,191,991	1,628,644	-15,096,890	4,146,000	5,010,844	-18,732,817	10,702,883	7,016,309	-46,996,511	431,639	-16,220,415	-35,545,980	-60,780,851
Other Investing Activities Margin	-0.06%	0.06%	-1.50%	0.07%	0.09%	-0.33%	0.24%	0.24%	-2.09%	0.02%	-0.94%	-3.08%	-9.21%
Net Cash from Investing Activities	-196,613,900	-184,276,447	-115,054,863	-162,223,969	-192,045,071	-235,572,659	-249,663,492	-81,877,042	-89,427,520	-24,879,765	-17,536,503	-36,863,953	-60,458,657
Net Cash from Investing Activities Margin	-3.44%	-3.75%	-3.72%	-2.73%	-3.39%	-4.20%	-5.61%	-2.82%	-3.98%	-1.12%	-1.02%	-3.19%	-9.16%
Net Debt Issuance	51,674,132	73,139,297	31,106,954	85,198,119	-9,068,225	78,892,503	250,810,296	-40,136,205	20,895,602	-32,572,935	-32,112,943	-7,115,377	-3,721,292
Net Debt Issuance Margin	0.89%	1.39%	0.34%	1.43%	-0.16%	1.41%	5.63%	-1.38%	0.93%	-1.47%	-1.86%	-0.62%	-0.56%
Long-Term Debt Issuance	51,674,132	86,966,758	41,200,044	85,198,119	-9,068,226	78,892,503	250,810,296	29,001,096	20,895,602	-32,572,935	-319,343	-7,115,377	-3,721,292
Long-Term Debt Issuance Margin	0.89%	1.86%	0.76%	1.43%	-0.16%	1.41%	5.63%	1.00%	0.93%	-1.47%	-0.02%	-0.62%	-0.56%
Short-Term Debt Issuance	0	-13,827,460	-10,093,090	0	0	0	0	-69,137,301	0	0	-31,793,600	0	0
Short-Term Debt Issuance Margin	0.00%	-0.48%	-0.42%	0.00%	0.00%	0.00%	0.00%	-2.38%	0.00%	0.00%	-1.84%	0.00%	0.00%
Net Stock Issuance	-16,495,309	-9,897,186	-4,948,593	-8,995,359	-33,380,155	-7,110,414	0	0	0	0	0	0	0
Net Stock Issuance Margin	-0.29%	-0.17%	-0.09%	-0.15%	-0.59%	-0.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Stock Issuance	2,370,138	1,424,813	712,406	0	0	7,110,414	13,651	0	0	0	0	0	0
Common Stock Issuance Margin	0.04%	0.03%	0.01%	0.00%	0.00%	0.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Stock Repurchased	-16,495,309	-9,899,916	-4,949,958	-8,995,359	-33,380,155	-7,110,414	-13,651	0	0	0	0	0	0
Common Stock Repurchased Margin	-0.29%	-0.17%	-0.09%	-0.15%	-0.59%	-0.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Stock Issuance	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Issuance Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Dividends Paid	-36,996,352	-31,413,558	-19,400,676	-41,802,738	-42,716,896	-26,469,423	-23,161,440	-22,917,295	-7,366,167	-9,669,703	-5,082,930	-7,910,268	-6,909,898
Net Dividends Paid Margin	-0.64%	-0.65%	-0.60%	-0.70%	-0.75%	-0.47%	-0.52%	-0.79%	-0.33%	-0.44%	-0.29%	-0.68%	-1.05%
Common Dividends Paid	-31,756,701	-28,269,768	-17,828,781	-41,802,738	-26,997,942	-26,469,423	-23,161,440	-22,917,295	-7,366,167	-9,669,703	-5,082,930	-7,910,268	-6,909,898
Common Dividends Paid Margin	-0.55%	-0.59%	-0.58%	-0.70%	-0.48%	-0.47%	-0.52%	-0.79%	-0.33%	-0.44%	-0.29%	-0.68%	-1.05%
Preferred Dividends Paid	-8,980,839	-5,388,503	-3,005,580	0	-15,718,954	-11,223,562	0	0	-3,113,283	0	0	0	0
Preferred Dividends Paid Margin	-0.16%	-0.10%	-0.06%	0.00%	-0.28%	-0.20%	0.00%	0.00%	-0.14%	0.00%	0.00%	0.00%	0.00%
Other Financing Activities	42,998,680	22,591,885	28,431,592	-10,352,980	137,533,874	1,815,146	-30,043,220	14,006,602	159,414,785	-40,426,040	-2,128,950	30,548,780	23,947,919
Other Financing Activities Margin	0.76%	0.42%	1.35%	-0.17%	2.43%	0.03%	-0.67%	0.48%	7.10%	-1.82%	-0.12%	2.64%	3.63%
Net Cash from Financing Activities	37,439,963	52,175,725	33,755,593	24,047,042	52,368,598	35,904,251	197,605,636	-49,046,898	169,830,937	-82,668,678	-39,324,824	15,523,135	13,316,729
Net Cash from Financing Activities Margin	0.66%	0.94%	0.96%	0.40%	0.93%	0.64%	4.44%	-1.69%	7.56%	-3.72%	-2.28%	1.34%	2.02%
Effect of FX on Cash	-2,561,447	-1,573,496	-807,045	1,625,403	902,210	-10,211,954	664,887	-848,027	-369,930	221,953	-243,030	48,401	139,636
Effect of FX on Cash Margin	-0.05%	-0.03%	-0.01%	0.03%	0.02%	-0.18%	0.01%	-0.03%	-0.02%	0.01%	-0.01%	0.00%	0.02%
Net Change in Cash	-25,802,823	-7,032,014	12,199,516	39,076,488	3,830,229	-120,315,186	65,829,092	-23,580,693	135,181,595	8,422,692	13,775,796	5,567,911	-5,792,768
Net Change in Cash Margin	-0.47%	-0.15%	0.60%	0.66%	0.07%	-2.14%	1.48%	-0.81%	6.02%	0.38%	0.80%	0.48%	-0.88%
Cash at Beginning of Period	133,818,967	143,776,821	81,513,466	96,267,391	92,437,162	212,752,348	146,923,256	170,503,949	35,322,354	26,899,662	13,123,866	7,555,955	13,348,723
Cash at Beginning of Period Margin	2.35%	3.24%	2.24%	1.62%	1.63%	3.79%	3.30%	5.88%	1.57%	1.21%	0.76%	0.65%	2.02%
Cash at End of Period	108,016,144	136,744,807	93,712,982	135,343,879	96,267,391	92,437,162	212,752,348	146,923,256	170,503,949	35,322,354	26,899,662	13,123,866	7,555,955
Cash at End of Period Margin	1.88%	3.09%	2.85%	2.28%	1.70%	1.65%	4.78%	5.06%	7.59%	1.59%	1.56%	1.14%	1.14%
Operating Cash Flow	131,263,612	123,840,834	92,905,147	175,628,012	128,597,648	89,565,175	117,222,062	108,191,273	55,148,107	115,749,182	70,880,153	26,860,329	41,209,532
Operating Cash Flow Margin	2.27%	2.64%	3.35%	2.96%	2.27%	1.60%	2.63%	3.73%	2.45%	5.21%	4.10%	2.32%	6.24%
Capital Expenditure	-198,498,318	-186,672,876	-112,073,750	-166,302,491	-190,742,361	-238,450,101	-247,980,180	-89,889,248	-46,996,511	-27,829,360	-16,220,415	-35,545,980	-60,780,851
Capital Expenditure Margin	-3.47%	-3.82%	-3.57%	-2.80%	-3.37%	-4.25%	-5.57%	-3.10%	-2.09%	-1.25%	-0.94%	-3.08%	-9.21%
Free Cash Flow	-67,234,706	-62,832,042	-19,168,602	9,325,521	-62,144,713	-148,884,925	-130,758,118	18,302,025	8,151,596	87,919,822	54,659,738	-8,685,650	-19,571,320
Free Cash Flow Margin	-1.20%	-1.18%	-0.21%	0.16%	-1.10%	-2.65%	-2.94%	0.63%	0.36%	3.96%	3.17%	-0.75%	-2.96%

Free Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	2024-12-31	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
Revenue	5,738,220,696	4,913,593,717	3,257,828,406	5,941,309,491	5,659,290,845	5,614,061,753	4,451,771,621	2,901,534,875	2,246,434,657	2,221,248,336	1,726,742,031	1,155,704,006	660,186,443
EBITDA	206,611,021	181,284,273	129,178,897	263,552,707	187,961,901	168,318,455	169,336,282	117,252,022	93,881,921	96,686,771	81,863,875	78,609,810	34,325,227
EBITDA Margin	3.59%	3.72%	4.39%	4.44%	3.32%	3.00%	3.80%	4.04%	4.18%	4.35%	4.74%	6.80%	5.20%
(-) Tax Adjustment	38,216,810	33,806,673	24,893,646	47,452,595	38,490,601	28,707,233	31,342,061	23,040,875	18,357,773	20,112,454	19,129,369	14,966,318	7,337,176
(-) Tax Adjustment Margin	0.66%	0.70%	0.87%	0.80%	0.68%	0.51%	0.70%	0.79%	0.82%	0.91%	1.11%	1.29%	1.11%
(-) Change In Working Capital	-73,902,150	-49,033,315	-26,887,529	-51,122,318	-93,710,572	-76,873,562	-35,075,681	11,615,558	-25,842,759	32,077,718	1,021,280	-41,592,660	10,627,704
(-) Change In Working Capital Margin	-1.30%	-0.85%	-0.59%	-0.86%	-1.66%	-1.37%	-0.79%	0.40%	-1.15%	1.44%	0.06%	-3.60%	1.61%
(-) Capital Expenditure	-198,498,318	-186,672,876	-112,073,750	-166,302,491	-190,742,361	-238,450,101	-247,980,180	-89,889,248	-46,996,511	-27,829,360	-16,220,415	-35,545,980	-60,780,851
(-) Capital Expenditure Margin	-3.47%	-3.82%	-3.57%	-2.80%	-3.37%	-4.25%	-5.57%	-3.10%	-2.09%	-1.25%	-0.94%	-3.08%	-9.21%
Unlevered Free Cash Flow	43,798,044	9,838,039	19,099,031	100,919,939	52,439,510	-21,965,317	-74,910,278	-7,293,660	54,370,396	16,667,239	45,492,812	69,690,172	-44,420,505
Unlevered Free Cash Flow Margin	0.74%	0.06%	0.54%	1.70%	0.93%	-0.39%	-1.68%	-0.25%	2.42%	0.75%	2.63%	6.03%	-6.73%
(-) Net Interest Income After Taxes	-11,540,219	-8,273,139	-5,164,961	-15,006,806	-10,273,303	-9,340,549	-5,037,214	-1,707,823	-2,040,466	-4,478,171	-4,289,487	-5,399,836	5,924,047
(-) Net Interest Income After Taxes Margin	-0.20%	-0.15%	-0.09%	-0.25%	-0.18%	-0.17%	-0.11%	-0.06%	-0.09%	-0.20%	-0.25%	-0.47%	0.90%
Net Debt Issuance	51,674,132	73,139,297	31,106,954	85,198,119	-9,068,225	78,892,503	250,810,296	-40,136,205	20,895,602	-32,572,935	-32,112,943	-7,115,377	-3,721,292
Net Debt Issuance Margin	0.89%	1.39%	0.34%	1.43%	-0.16%	1.41%	5.63%	-1.38%	0.93%	-1.47%	-1.86%	-0.62%	-0.56%
Levered Free Cash Flow	107,012,396	91,250,475	55,370,946	201,124,864	53,644,588	66,267,735	180,937,232	-45,722,042	77,306,463	-11,427,526	17,669,356	67,974,631	-54,065,844
Levered Free Cash Flow Margin	1.84%	1.60%	0.96%	3.39%	0.95%	1.18%	4.06%	-1.58%	3.44%	-0.51%	1.02%	5.88%	-8.19%