Cash flow DLocal Limited

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DLO

KYG290181018

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14.07 ^USD	-1.95%		-5.91%	-0.32%

Dec. 23	DLOCAL LTD Announces Board Appointments	CI
Dec. 23	DLocal Transitions to Majority Independent Board	MT

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Published financial data: DLOCAL LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	104M	244M	419M	650M	746M
Total Revenues	104M	244M	419M	650M	746M
Cost of Goods Sold, Total	44.06M	114M	217M	373M	451M
Gross Profit	60.08M	130M	202M	277M	295M
Selling General & Admin Expenses, Total	24.88M	45.87M	61.68M	86.02M	123M
Provision for Bad Debts	-808K	33K	5.53M	-3.14M	440K
R&D Expenses	2M	3.39M	6.35M	12.65M	25.62M
Other Operating Expenses	2.9M	-471K	697K	-	5.26M
Other Operating Expenses, Total	28.98M	48.81M	74.26M	95.54M	154M
Operating Income	31.1M	81.63M	128M	181M	140M
Interest Expense, Total	-20K	-142K	-177K	-578K	-501K
Interest And Investment Income	443K	2.56M	18.11M	49.59M	28.27M
Net Interest Expenses	423K	2.41M	17.94M	49.01M	27.76M
Currency Exchange Gains (Loss)	-	-	-	-111M	-19.46M
Other Non Operating Income (Expenses)	-9K	-736K	-25.53M	-18.16M	-36.39M
EBT, Excl. Unusual Items	31.52M	83.31M	120M	102M	112M
Merger & Related Restructuring Charges	-158K	-687K	-	-	-
Gain (Loss) On Sale Of Investments	9K	-16K	-36K	78.64M	38.61M
Other Unusual Items	50K	2.9M	-	-1.66M	-
EBT, Incl. Unusual Items	31.42M	85.5M	120M	179M	151M
Income Tax Expense	3.23M	7.65M	11.59M	29.43M	30.55M
Earnings From Continuing Operations	28.19M	77.85M	109M	149M	120M
Net Income to Company	28.19M	77.85M	109M	149M	120M
Minority Interest	-3K	23K	-14K	-122K	-53K
Net Income - (IS)	28.18M	77.88M	109M	149M	120M
Net Income to Common Incl Extra Items	28.18M	77.88M	109M	149M	120M
Net Income to Common Excl. Extra Items	28.18M	77.88M	109M	149M	120M
Per Share Items
Net EPS - Basic	0.1	0.27	0.37	0.51	0.42
Basic EPS - Continuing Operations	0.1	0.27	0.37	0.51	0.42
Basic Weighted Average Shares Outstanding	269M	287M	296M	292M	290M
Net EPS - Diluted	0.1	0.25	0.35	0.49	0.39
Diluted EPS - Continuing Operations	0.1	0.25	0.35	0.49	0.39
Diluted Weighted Average Shares Outstanding	285M	309M	313M	303M	305M
Normalized Basic EPS	0.07	0.18	0.25	0.22	0.24
Normalized Diluted EPS	0.07	0.17	0.24	0.21	0.23
Payout Ratio	53.22	-	-	-	-
Supplemental Items
EBITDA	31.26M	83.58M	131M	184M	144M
EBITA	31.1M	83.2M	130M	183M	143M
EBIT	31.1M	81.63M	128M	181M	140M
EBITDAR	32.58M	86.02M	134M	189M	145M
Effective Tax Rate - (Ratio)	10.28	8.94	9.63	16.48	20.23
Total Current Taxes	3.17M	6.94M	11.68M	31.92M	32.6M
Total Deferred Taxes	59K	707K	-96K	-2.5M	-2.04M
Normalized Net Income	19.7M	52.09M	75.19M	63.34M	70.2M
Interest on Long-Term Debt	67K	142K	177K	88.82M	501K
Supplemental Operating Expense Items
Marketing Expenses	-	-	2.54M	3.78M	3.5M
Selling and Marketing Expenses	2.85M	5.92M	13.34M	17.12M	21.63M
General and Administrative Expenses	20.7M	37.5M	45.24M	64.02M	100M
Research And Development Expense From Footnotes	2M	5.73M	11.14M	21.36M	39.04M
Net Rental Expense, Total	1.32M	2.44M	3.11M	4.89M	823K
Imputed Operating Lease Interest Expense	687K	606K	676K	5.62M	113K
Imputed Operating Lease Depreciation	638K	1.84M	2.43M	-737K	710K
Stock-Based Comp., Other (Total)	7.3M	7.59M	8.68M	11.92M	23.78M
Total Stock-Based Compensation	7.3M	7.59M	8.68M	11.92M	23.78M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	112M	336M	468M	536M	425M
Trading Asset Securities, Total	8.32M	1M	1.3M	103M	141M
Total Cash And Short Term Investments	120M	337M	469M	639M	566M
Accounts Receivable, Total	67.21M	179M	219M	319M	457M
Total Receivables	67.21M	179M	219M	319M	457M
Prepaid Expenses	550K	567K	-	-	-
Restricted Cash	1.07M	211K	43.81M	11.64M	6.97M
Other Current Assets, Total	5.97M	12.65M	35.98M	46.1M	42.64M
Total Current Assets	195M	530M	768M	1.02B	1.07B
Gross Property Plant And Equipment	1.32M	7M	8M	8.72M	10.38M
Accumulated Depreciation	-218K	-595K	-1.33M	-2.12M	-3.36M
Net Property Plant And Equipment	1.1M	6.4M	6.67M	6.61M	7.02M
Long-term Investments	-	-	-	1.71M	4.7M
Other Intangibles, Total	4.15M	46.97M	51.44M	57.89M	63.32M
Deferred Tax Assets Long-Term	216K	133K	362K	2.22M	5.37M
Other Long-Term Assets, Total	143K	-	-	-	18.04M
Total Assets	200M	583M	826M	1.08B	1.17B
Liabilities
Accounts Payable, Total	137M	269M	395M	572M	563M
Accrued Expenses, Total	3.88M	4.07M	6.1M	10.21M	9.9M
Short-term Borrowings	-	5.01M	-	-	50.46M
Current Portion of Leases	201K	502K	686K	626K	1.14M
Current Income Taxes Payable	5.25M	9.43M	8.84M	20.44M	20.52M
Other Current Liabilities	9.08M	10.15M	11.51M	21.56M	32.86M
Total Current Liabilities	155M	298M	422M	625M	678M
Long-Term Leases	17K	3.43M	3.39M	3.33M	2.86M
Deferred Tax Liability Non Current	259K	883K	1.02M	753K	1.86M
Total Liabilities	155M	303M	427M	629M	682M
Common Stock, Total	602K	590K	592K	591K	570K
Additional Paid In Capital	-	157M	164M	73.06M	187M
Retained Earnings	31.75M	110M	220M	370M	490M
Treasury Stock	-	-	-	-	-201M
Comprehensive Income and Other	12.7M	12.71M	14.74M	11.77M	12.5M
Total Common Equity	45.05M	280M	400M	455M	489M
Minority Interest	-4K	-18K	-9K	109K	100K
Total Equity	45.05M	280M	400M	455M	489M
Total Liabilities And Equity	200M	583M	826M	1.08B	1.17B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	269M	295M	294M	289M	285M
ECS Total Common Shares Outstanding	269M	295M	296M	289M	285M
Book Value / Share	0.17	0.95	1.35	1.58	1.71
Tangible Book Value	40.9M	233M	348M	397M	426M
Tangible Book Value Per Share	0.15	0.79	1.18	1.38	1.49
Total Debt	218K	8.94M	4.08M	3.96M	54.46M
Net Debt	-120M	-328M	-465M	-635M	-512M
Debt Equivalent Oper. Leases	10.6M	19.56M	24.85M	39.09M	6.58M
Minority Interest, Total (Incl. Fin. Div)	-4K	-18K	-9K	109K	100K
Account Code - Inventory Valuation	3	3	3	3	3
Buildings, Total	-	1.26M	1.26M	1.26M	1.26M
Machinery, Total	645K	1.82M	2.81M	3.78M	5.48M
Full Time Employees	310	539	726	901	1.1K
Accumulated Allowance for Doubtful Accounts (Supple)	341K	322K	280K	459K	148K

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	28.18M	77.88M	109M	149M	120M
Depreciation & Amortization - CF	336K	830K	1.26M	1.41M	1.88M
Amortization of Goodwill and Intangible Assets - (CF)	-	1.57M	2.1M	2.11M	2.1M
Depreciation & Amortization, Total	336K	2.4M	3.35M	3.52M	3.98M
Amortization of Deferred Charges, Total - (CF)	656K	2.34M	4.79M	8.71M	13.41M
(Gain) Loss on Sale of Investments - (CF)	-817K	49K	-6K	-78.46M	-36.98M
Stock-Based Compensation (CF)	7.3M	7.59M	8.68M	11.92M	23.78M
Provision and Write-off of Bad Debts	-	-	-	139K	-
Other Operating Activities, Total	3.52M	-6.92M	8.16M	94.36M	9.82M
Change In Accounts Receivable	-45.93M	-115M	-49.44M	-123M	-163M
Change In Accounts Payable	89.89M	134M	131M	195M	-6.96M
Change In Income Taxes	5.88M	5.31M	-4.24M	-10.97M	-3.18M
Change in Other Net Operating Assets	-519K	898K	-56.25M	43.9M	5.56M
Cash from Operations	88.49M	108M	154M	293M	-32.78M
Capital Expenditure	-876K	-1.95M	-987K	-965K	-1.7M
Sale (Purchase) of Intangible assets	-3.01M	-46.07M	-11.36M	-17.26M	-20.94M
Investment in Marketable and Equity Securities, Total	7.09M	7.52M	-327K	-116M	-23.37M
Other Investing Activities, Total	443K	2.56M	16.98M	49.59M	28.27M
Cash from Investing	3.65M	-37.94M	4.3M	-84.67M	-17.75M
Short Term Debt Issued, Total	-	5M	14.78M	-	50.43M
Total Debt Issued	-	5M	14.78M	-	50.43M
Short Term Debt Repaid, Total	-	-	-19.97M	-	-
Long-Term Debt Repaid, Total	-131K	-430K	-386K	-1.1M	-552K
Total Debt Repaid	-131K	-430K	-20.35M	-1.1M	-552K
Issuance of Common Stock	-	150M	3.94M	153K	1.85M
Repurchase of Common Stock	-	-	-2.02M	-97.93M	-101M
Common Dividends Paid	-15M	-	-	-	-
Common & Preferred Stock Dividends Paid	-15M	-	-	-	-
Other Financing Activities, Total	-67K	-1.17M	-23.67M	-34.99M	-19.25M
Cash from Financing	-15.2M	154M	-27.33M	-134M	-68.59M
Foreign Exchange Rate Adjustments	30K	171K	466K	-6.85M	8.14M
Net Change in Cash	76.97M	224M	132M	68.07M	-111M
Supplemental Items
Cash Interest Paid	20K	142K	1.78M	578K	2.78M
Cash Income Tax Paid (Refund)	2.15M	9.82M	8.87M	11.48M	28.7M
Levered Free Cash Flow	76.36M	35.69M	107M	243M	-22.12M
Unlevered Free Cash Flow	76.37M	35.78M	107M	244M	-21.81M
Change In Net Working Capital	-52.52M	-20.44M	-22.57M	-124M	128M
Net Debt Issued / Repaid	-131K	4.57M	-5.57M	-1.1M	49.88M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	13.88	13.02	11.34	11.86	7.79
Return on Total Capital	55.39	30.5	23.07	26.27	17.52
Return On Equity %	81.02	47.86	31.97	34.88	25.52
Return on Common Equity	81.2	47.87	31.97	34.86	25.51
Margin Analysis
Gross Profit Margin %	57.69	53.43	48.26	42.57	39.5
SG&A Margin	23.89	18.79	14.72	13.23	16.47
EBITDA Margin %	30.01	34.24	31.21	28.32	19.31
EBITA Margin %	29.87	34.08	31.03	28.2	19.12
EBIT Margin %	29.87	33.44	30.53	27.88	18.83
Income From Continuing Operations Margin %	27.07	31.89	25.95	22.92	16.15
Net Income Margin %	27.06	31.9	25.94	22.91	16.14
Net Avail. For Common Margin %	27.06	31.9	25.94	22.91	16.14
Normalized Net Income Margin	18.91	21.34	17.95	9.74	9.41
Levered Free Cash Flow Margin	73.32	14.62	25.51	37.39	-2.97
Unlevered Free Cash Flow Margin	73.33	14.65	25.54	37.44	-2.92
Asset Turnover
Asset Turnover	0.74	0.62	0.59	0.68	0.66
Fixed Assets Turnover	125.32	65.09	64.11	97.99	109.48
Receivables Turnover (Average Receivables)	2.27	1.98	2.11	2.42	1.92
Short Term Liquidity
Current Ratio	1.26	1.77	1.82	1.63	1.58
Quick Ratio	1.21	1.73	1.63	1.53	1.51
Operating Cash Flow to Current Liabilities	0.57	0.36	0.37	0.47	-0.05
Days Sales Outstanding (Average Receivables)	161.06	183.97	173.17	151	190.52
Average Days Payable Outstanding	778.92	651.73	559.36	472.76	460.29
Long Term Solvency
Total Debt/Equity	0.48	3.19	1.02	0.87	11.14
Total Debt / Total Capital	0.48	3.09	1.01	0.86	10.02
LT Debt/Equity	0.04	1.22	0.85	0.73	0.59
Long-Term Debt / Total Capital	0.04	1.18	0.84	0.73	0.53
Total Liabilities / Total Assets	77.53	51.92	51.64	58.03	58.25
EBIT / Interest Expense	1.56K	574.85	722.66	313.7	280.44
EBITDA / Interest Expense	1.57K	591.78	741.6	319.78	288.39
(EBITDA - Capex) / Interest Expense	1.53K	578.06	736.03	318.11	284.98
Total Debt / EBITDA	0.01	0.11	0.03	0.02	0.38
Net Debt / EBITDA	-3.81	-3.91	-3.54	-3.43	-3.54
Total Debt / (EBITDA - Capex)	0.01	0.11	0.03	0.02	0.38
Net Debt / (EBITDA - Capex)	-3.92	-4	-3.57	-3.45	-3.58
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	88.36	134.41	71.61	55.24	14.7
Gross Profit, 1 Yr. Growth %	67.46	117.12	54.98	36.95	6.43
EBITDA, 1 Yr. Growth %	77.43	167.39	56.43	38.75	-21.08
EBITA, 1 Yr. Growth %	77.08	167.51	56.26	38.94	-21.55
EBIT, 1 Yr. Growth %	77.08	162.45	56.7	39.56	-21.8
Earnings From Cont. Operations, 1 Yr. Growth %	80.66	176.2	39.62	37.16	-19.2
Net Income, 1 Yr. Growth %	80.64	176.31	39.56	37.06	-19.16
Normalized Net Income, 1 Yr. Growth %	77.36	164.48	44.34	-17.14	12.69
Diluted EPS Before Extra, 1 Yr. Growth %	74.91	150	40	40	-20.41
Accounts Receivable, 1 Yr. Growth %	174.97	166.14	22.23	46.11	43.1
Net Property, Plant and Equip., 1 Yr. Growth %	96.26	481.29	4.19	-0.93	6.3
Total Assets, 1 Yr. Growth %	151.86	190.82	41.73	31.24	8.01
Tangible Book Value, 1 Yr. Growth %	81.29	470.55	49.21	14.06	7.16
Common Equity, 1 Yr. Growth %	84.92	522.21	42.56	13.86	7.44
Cash From Operations, 1 Yr. Growth %	188.01	22.6	42.37	90	-111.17
Capital Expenditures, 1 Yr. Growth %	476.32	122.49	-49.36	-2.23	76.68
Levered Free Cash Flow, 1 Yr. Growth %	-	-53.26	199.5	124.85	-109.14
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-53.15	199.06	124.95	-109
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	110.13	100.56	63.22	33.44
Gross Profit, 2 Yr. CAGR %	-	90.68	83.44	45.69	20.73
EBITDA, 2 Yr. CAGR %	-	117.81	104.52	46.42	3.1
EBITA, 2 Yr. CAGR %	-	117.65	104.45	46.43	2.85
EBIT, 2 Yr. CAGR %	-	115.58	102.79	49.04	4.81
Earnings From Cont. Operations, 2 Yr. CAGR %	-	123.38	96.37	38.38	5.28
Net Income, 2 Yr. CAGR %	-	123.41	96.37	38.31	5.26
Normalized Net Income, 2 Yr. CAGR %	-	116.59	95.38	10.27	-3.37
Diluted EPS Before Extra, 2 Yr. CAGR %	-	123.61	87.08	40	5.56
Accounts Receivable, 2 Yr. CAGR %	-	170.52	80.36	33.64	44.6
Net Property, Plant and Equip., 2 Yr. CAGR %	-	237.76	146.1	1.6	2.62
Total Assets, 2 Yr. CAGR %	-	170.64	103.02	36.39	19.06
Tangible Book Value, 2 Yr. CAGR %	-	221.61	191.78	30.46	10.56
Common Equity, 2 Yr. CAGR %	-	239.2	197.83	27.41	10.61
Cash From Operations, 2 Yr. CAGR %	-	87.91	32.12	64.47	-53.93
Capital Expenditures, 2 Yr. CAGR %	-	258.08	6.15	-29.63	31.43
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	18.31	161.03	-54.5
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	18.36	160.9	-54.85
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	96.41	84.15	45.11
Gross Profit, 3 Yr. CAGR %	-	-	77.95	66.41	31.21
EBITDA, 3 Yr. CAGR %	-	-	95.06	80.63	18.8
EBITA, 3 Yr. CAGR %	-	-	94.89	80.67	18.57
EBIT, 3 Yr. CAGR %	-	-	93.83	79.98	19.84
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	90.99	74.23	15.66
Net Income, 3 Yr. CAGR %	-	-	90.98	74.19	15.64
Normalized Net Income, 3 Yr. CAGR %	-	-	89.18	47.61	10.46
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	91.29	69.85	15.98
Accounts Receivable, 3 Yr. CAGR %	-	-	107.58	68.13	36.72
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	128.22	81.71	3.14
Total Assets, 3 Yr. CAGR %	-	-	118.15	75.55	26.18
Tangible Book Value, 3 Yr. CAGR %	-	-	148.98	113.34	22.18
Common Equity, 3 Yr. CAGR %	-	-	154.08	116.16	20.37
Cash From Operations, 3 Yr. CAGR %	-	-	71.31	49.13	-32.89
Capital Expenditures, 3 Yr. CAGR %	-	-	86.56	3.28	-4.36
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	47.12	-14.73
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	47.19	-15.21
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	-	68.27
Gross Profit, 5 Yr. CAGR %	-	-	-	-	52.37
EBITDA, 5 Yr. CAGR %	-	-	-	-	52.24
EBITA, 5 Yr. CAGR %	-	-	-	-	52.02
EBIT, 5 Yr. CAGR %	-	-	-	-	51.57
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-	-	50.5
Net Income, 5 Yr. CAGR %	-	-	-	-	50.49
Normalized Net Income, 5 Yr. CAGR %	-	-	-	-	44.6
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	-	50.81
Accounts Receivable, 5 Yr. CAGR %	-	-	-	-	79.63
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	-	65.77
Total Assets, 5 Yr. CAGR %	-	-	-	-	71.22
Tangible Book Value, 5 Yr. CAGR %	-	-	-	-	79.94
Common Equity, 5 Yr. CAGR %	-	-	-	-	82.18
Cash From Operations, 5 Yr. CAGR %	-	-	-	-	1.31
Capital Expenditures, 5 Yr. CAGR %	-	-	-	-	62.17