View Past PerformanceEndor バランスシートの健全性財務の健全性 基準チェック /06Endorの健全性を判断するにはデータが不十分です主要情報n/a負債資本比率n/a負債インタレスト・カバレッジ・レシオn/a現金n/aエクイティn/a負債合計n/a総資産n/a財務の健全性に関する最新情報分析記事 • Mar 06Endor (MUN:E2N) Has Debt But No Earnings; Should You Worry?Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...すべての更新を表示Recent updatesNew Risk • Mar 30New major risk - Financial data availabilityThe company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (54% average daily change). Market cap is less than US$10m (€38.7k market cap, or US$41.9k).New Risk • Dec 17New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (56% average daily change). Revenue has declined by 23% over the past year. Market cap is less than US$10m (€15.5k market cap, or US$16.3k). Minor Risk Latest financial reports are more than 6 months old (reported September 2023 fiscal period end).お知らせ • Sep 23Corsair Gaming, Inc. (NasdaqGS:CRSR) completed the acquisition of Fanatec Sim Racing product line from Endor AG (MUN:E2N).Corsair Gaming, Inc. (NasdaqGS:CRSR) agreed to acquire Fanatec Sim Racing product line from Endor AG (MUN:E2N) on September 13, 2024. Hubert Ampferl, a partner at the law firm Beck & Partner, was appointed as the insolvency administrator. The shares in the foreign subsidiaries will also be transferred. Additionally, CORSAIR will take over all active employment contracts of Endor AG. Endor AG will be fully liquidated as part of the insolvency proceedings and its stock market listing will be terminated shortly. Shareholders should expect not to receive any payments. The company’s real estate remains up for sale. Fanatec Sim Racing product line acquisition includes the existing employees at Endor who manage and operate the Fanatec product line. The headquarters will remain in Landshut and continue to develop future Fanatec Sim Racing products. The transaction is expected to close imminently. Corsair Gaming, Inc. (NasdaqGS:CRSR) completed the acquisition of Fanatec Sim Racing product line from Endor AG (MUN:E2N) on September 23, 2024.New Risk • Jun 17New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (41% average weekly change). Earnings have declined by 49% per year over the past 5 years. Market cap is less than US$10m (€4.65m market cap, or US$4.98m). Minor Risk Latest financial reports are more than 6 months old (reported September 2023 fiscal period end).分析記事 • Mar 29Endor AG's (MUN:E2N) 32% Dip Still Leaving Some Shareholders Feeling Restless Over Its P/SRatioUnfortunately for some shareholders, the Endor AG ( MUN:E2N ) share price has dived 32% in the last thirty days...分析記事 • Mar 06Endor (MUN:E2N) Has Debt But No Earnings; Should You Worry?Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...お知らせ • Feb 03Endor AG Provides Earnings Guidance for the Year 2024Endor AG provided earnings guidance for the year 2024. The company expects consolidated revenue in the range of EUR 115 million to EUR 125 million in the current financial year, after generating an expected revenue in the range of EUR 102 million to EUR 106 million in 2023. The expected EBITDA margin (based on revenues) in 2024 is estimated to be in the range of 8% to 10% (2023 expected to be -10% to -15%).New Risk • Jan 25New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: €86.0m (US$93.2m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 49% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€86.0m market cap, or US$93.2m).分析記事 • Dec 27Endor AG's (MUN:E2N) 33% Share Price Surge Not Quite Adding UpDespite an already strong run, Endor AG ( MUN:E2N ) shares have been powering on, with a gain of 33% in the last thirty...お知らせ • Oct 27Endor AG Announces Changes to the Supervisory BoardEndor AG announced that at the Annual General Meeting 2023, held on October 25, 2023, the shareholders also approved the election of a new Supervisory Board. Oliver F. Gosemann was newly appointed to the Supervisory Board after the term of office of Supervisory Board member Andreas Potthoff expired at the end of this year’s Annual General Meeting.お知らせ • Oct 26Endor AG Revises Earnings Guidance for the Year 2023Endor AG revised earnings guidance for the year 2023. For the period, the company expects revenues to be in a range of EUR 105 million - EUR 115 million (previously: EUR 105 million - EUR 125 million).お知らせ • Oct 01Endor AG Announces Matthias Kosch Succeeds Andras Semsey as New CFO, Effective January 1, 2024Endor AG announced a change in the Management Board. As of November 1, 2023, the Supervisory Board appoints Matthias Kosch (born 1978) to the Management Board of Endor AG. Andras Semsey, who has been a member of the Management Board since 2004, will not renew his contract, which expires on December 31, 2023. Matthias Kosch succeeds Andras Semsey as new CFO. With Matthias Kosch, were able to gain an experienced financial expert who has the relevant expertise as CFO of listed companies as well as 17 years of professional experience in the commercial management of medium-sized companies. Kosch had been working for Blue Cap AG. There he initially worked as an investment manager and later as CFO. In addition to the acquisition and financing of new investments, he improved structures, processes and reporting within the respective operating subsidiaries and led commercial digitalization projects. During his tenure as CFO, the Blue Cap group's revenues more than quadrupled. Before moving into investment management, Kosch completed a degree in business administration at Munich University of Applied Sciences. As CFO, Matthias Kosch will have sole responsibility for the finance department at Endor AG as of January 1, 2024, as well as joint responsibility for the capital market with CEO Thomas Jackermeier. Until this date, the Management Board will operate as a five-member board for a transitional period.Valuation Update With 7 Day Price Move • May 26Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to €8.00, the stock trades at a trailing P/E ratio of 39.9x. Average trailing P/E is 31x in the Tech industry in Europe. Total loss to shareholders of 10% over the past three years.Valuation Update With 7 Day Price Move • May 08Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to €9.90, the stock trades at a trailing P/E ratio of 49.4x. Average trailing P/E is 32x in the Tech industry in Europe. Total returns to shareholders of 101% over the past three years.分析記事 • Mar 31There Are Reasons To Feel Uneasy About Endor's (MUN:E2N) Returns On CapitalFinding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Valuation Update With 7 Day Price Move • Dec 06Investor sentiment improved over the past weekAfter last week's 18% share price gain to €13.10, the stock trades at a trailing P/E ratio of 65.4x. Average trailing P/E is 32x in the Tech industry in Europe. Total returns to shareholders of 244% over the past three years.分析記事 • Sep 27Endor's (MUN:E2N) Returns On Capital Not Reflecting Well On The BusinessIf you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...分析記事 • Jun 08Endor's (MUN:E2N) Problems Go Beyond Weak ProfitEndor AG's ( MUN:E2N ) recent weak earnings report didn't cause a big stock movement. We think that investors are...Reported Earnings • Jun 02Full year 2021 earnings released: EPS: €0.20 (vs €0.80 in FY 2020)Full year 2021 results: EPS: €0.20 (down from €0.80 in FY 2020). Revenue: €82.9m (down 9.1% from FY 2020). Net income: €3.11m (down 75% from FY 2020). Profit margin: 3.7% (down from 14% in FY 2020). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 119% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Mar 22Investor sentiment improved over the past weekAfter last week's 17% share price gain to €18.20, the stock trades at a trailing P/E ratio of 22.7x. Average trailing P/E is 22x in the Tech industry in Europe. Total returns to shareholders of 809% over the past three years.分析記事 • Nov 25Endor (MUN:E2N) Might Become A Compounding MachineWhat are the early trends we should look for to identify a stock that could multiply in value over the long term...分析記事 • Apr 30Why We Like The Returns At Endor (MUN:E2N)If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. In a perfect...Is New 90 Day High Low • Feb 18New 90-day high: €180The company is up 36% from its price of €132 on 19 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Tech industry, which is up 35% over the same period.Is New 90 Day High Low • Jan 29New 90-day high: €179The company is up 23% from its price of €146 on 30 October 2020. The German market is up 20% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Tech industry, which is also up 23% over the same period.分析記事 • Jan 07Does Endor (MUN:E2N) Have The DNA Of A Multi-Bagger?Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Is New 90 Day High Low • Jan 06New 90-day low: €116The company is down 13% from its price of €133 on 08 October 2020. The German market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 19% over the same period.Is New 90 Day High Low • Dec 18New 90-day low: €120The company is down 5.0% from its price of €126 on 18 September 2020. The German market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 23% over the same period.Is New 90 Day High Low • Oct 21New 90-day high: €141The company is up 11% from its price of €127 on 22 July 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Tech industry, which is up 12% over the same period.財務状況分析短期負債: E2Nの 短期資産 が 短期負債 をカバーしているかどうかを判断するにはデータが不十分です。長期負債: E2Nの短期資産が 長期負債 をカバーしているかどうかを判断するにはデータが不十分です。デット・ツー・エクイティの歴史と分析負債レベル: E2Nの 純負債対資本比率 を計算して 満足できる ものであるかどうかを判断するにはデータが不十分です。負債の削減: E2Nの負債対資本比率が過去 5 年間で減少したかどうかを判断するにはデータが不十分です。債務返済能力: E2Nの負債が 営業キャッシュフロー によって 十分にカバーされている かどうかを判断するにはデータが不十分です。インタレストカバレッジ: E2Nの負債に対する 利息支払い が EBIT によって 十分にカバーされている かどうかを判断するにはデータが不十分です。貸借対照表健全な企業の発掘7D1Y7D1Y7D1YTech 業界の健全な企業。View Dividend企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2025/12/28 10:17終値2025/09/30 00:00収益2023/09/30年間収益2022/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Endor AG 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。0
分析記事 • Mar 06Endor (MUN:E2N) Has Debt But No Earnings; Should You Worry?Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...
New Risk • Mar 30New major risk - Financial data availabilityThe company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (54% average daily change). Market cap is less than US$10m (€38.7k market cap, or US$41.9k).
New Risk • Dec 17New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (56% average daily change). Revenue has declined by 23% over the past year. Market cap is less than US$10m (€15.5k market cap, or US$16.3k). Minor Risk Latest financial reports are more than 6 months old (reported September 2023 fiscal period end).
お知らせ • Sep 23Corsair Gaming, Inc. (NasdaqGS:CRSR) completed the acquisition of Fanatec Sim Racing product line from Endor AG (MUN:E2N).Corsair Gaming, Inc. (NasdaqGS:CRSR) agreed to acquire Fanatec Sim Racing product line from Endor AG (MUN:E2N) on September 13, 2024. Hubert Ampferl, a partner at the law firm Beck & Partner, was appointed as the insolvency administrator. The shares in the foreign subsidiaries will also be transferred. Additionally, CORSAIR will take over all active employment contracts of Endor AG. Endor AG will be fully liquidated as part of the insolvency proceedings and its stock market listing will be terminated shortly. Shareholders should expect not to receive any payments. The company’s real estate remains up for sale. Fanatec Sim Racing product line acquisition includes the existing employees at Endor who manage and operate the Fanatec product line. The headquarters will remain in Landshut and continue to develop future Fanatec Sim Racing products. The transaction is expected to close imminently. Corsair Gaming, Inc. (NasdaqGS:CRSR) completed the acquisition of Fanatec Sim Racing product line from Endor AG (MUN:E2N) on September 23, 2024.
New Risk • Jun 17New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (41% average weekly change). Earnings have declined by 49% per year over the past 5 years. Market cap is less than US$10m (€4.65m market cap, or US$4.98m). Minor Risk Latest financial reports are more than 6 months old (reported September 2023 fiscal period end).
分析記事 • Mar 29Endor AG's (MUN:E2N) 32% Dip Still Leaving Some Shareholders Feeling Restless Over Its P/SRatioUnfortunately for some shareholders, the Endor AG ( MUN:E2N ) share price has dived 32% in the last thirty days...
分析記事 • Mar 06Endor (MUN:E2N) Has Debt But No Earnings; Should You Worry?Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...
お知らせ • Feb 03Endor AG Provides Earnings Guidance for the Year 2024Endor AG provided earnings guidance for the year 2024. The company expects consolidated revenue in the range of EUR 115 million to EUR 125 million in the current financial year, after generating an expected revenue in the range of EUR 102 million to EUR 106 million in 2023. The expected EBITDA margin (based on revenues) in 2024 is estimated to be in the range of 8% to 10% (2023 expected to be -10% to -15%).
New Risk • Jan 25New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: €86.0m (US$93.2m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 49% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€86.0m market cap, or US$93.2m).
分析記事 • Dec 27Endor AG's (MUN:E2N) 33% Share Price Surge Not Quite Adding UpDespite an already strong run, Endor AG ( MUN:E2N ) shares have been powering on, with a gain of 33% in the last thirty...
お知らせ • Oct 27Endor AG Announces Changes to the Supervisory BoardEndor AG announced that at the Annual General Meeting 2023, held on October 25, 2023, the shareholders also approved the election of a new Supervisory Board. Oliver F. Gosemann was newly appointed to the Supervisory Board after the term of office of Supervisory Board member Andreas Potthoff expired at the end of this year’s Annual General Meeting.
お知らせ • Oct 26Endor AG Revises Earnings Guidance for the Year 2023Endor AG revised earnings guidance for the year 2023. For the period, the company expects revenues to be in a range of EUR 105 million - EUR 115 million (previously: EUR 105 million - EUR 125 million).
お知らせ • Oct 01Endor AG Announces Matthias Kosch Succeeds Andras Semsey as New CFO, Effective January 1, 2024Endor AG announced a change in the Management Board. As of November 1, 2023, the Supervisory Board appoints Matthias Kosch (born 1978) to the Management Board of Endor AG. Andras Semsey, who has been a member of the Management Board since 2004, will not renew his contract, which expires on December 31, 2023. Matthias Kosch succeeds Andras Semsey as new CFO. With Matthias Kosch, were able to gain an experienced financial expert who has the relevant expertise as CFO of listed companies as well as 17 years of professional experience in the commercial management of medium-sized companies. Kosch had been working for Blue Cap AG. There he initially worked as an investment manager and later as CFO. In addition to the acquisition and financing of new investments, he improved structures, processes and reporting within the respective operating subsidiaries and led commercial digitalization projects. During his tenure as CFO, the Blue Cap group's revenues more than quadrupled. Before moving into investment management, Kosch completed a degree in business administration at Munich University of Applied Sciences. As CFO, Matthias Kosch will have sole responsibility for the finance department at Endor AG as of January 1, 2024, as well as joint responsibility for the capital market with CEO Thomas Jackermeier. Until this date, the Management Board will operate as a five-member board for a transitional period.
Valuation Update With 7 Day Price Move • May 26Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to €8.00, the stock trades at a trailing P/E ratio of 39.9x. Average trailing P/E is 31x in the Tech industry in Europe. Total loss to shareholders of 10% over the past three years.
Valuation Update With 7 Day Price Move • May 08Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to €9.90, the stock trades at a trailing P/E ratio of 49.4x. Average trailing P/E is 32x in the Tech industry in Europe. Total returns to shareholders of 101% over the past three years.
分析記事 • Mar 31There Are Reasons To Feel Uneasy About Endor's (MUN:E2N) Returns On CapitalFinding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Valuation Update With 7 Day Price Move • Dec 06Investor sentiment improved over the past weekAfter last week's 18% share price gain to €13.10, the stock trades at a trailing P/E ratio of 65.4x. Average trailing P/E is 32x in the Tech industry in Europe. Total returns to shareholders of 244% over the past three years.
分析記事 • Sep 27Endor's (MUN:E2N) Returns On Capital Not Reflecting Well On The BusinessIf you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
分析記事 • Jun 08Endor's (MUN:E2N) Problems Go Beyond Weak ProfitEndor AG's ( MUN:E2N ) recent weak earnings report didn't cause a big stock movement. We think that investors are...
Reported Earnings • Jun 02Full year 2021 earnings released: EPS: €0.20 (vs €0.80 in FY 2020)Full year 2021 results: EPS: €0.20 (down from €0.80 in FY 2020). Revenue: €82.9m (down 9.1% from FY 2020). Net income: €3.11m (down 75% from FY 2020). Profit margin: 3.7% (down from 14% in FY 2020). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 119% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Mar 22Investor sentiment improved over the past weekAfter last week's 17% share price gain to €18.20, the stock trades at a trailing P/E ratio of 22.7x. Average trailing P/E is 22x in the Tech industry in Europe. Total returns to shareholders of 809% over the past three years.
分析記事 • Nov 25Endor (MUN:E2N) Might Become A Compounding MachineWhat are the early trends we should look for to identify a stock that could multiply in value over the long term...
分析記事 • Apr 30Why We Like The Returns At Endor (MUN:E2N)If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. In a perfect...
Is New 90 Day High Low • Feb 18New 90-day high: €180The company is up 36% from its price of €132 on 19 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Tech industry, which is up 35% over the same period.
Is New 90 Day High Low • Jan 29New 90-day high: €179The company is up 23% from its price of €146 on 30 October 2020. The German market is up 20% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Tech industry, which is also up 23% over the same period.
分析記事 • Jan 07Does Endor (MUN:E2N) Have The DNA Of A Multi-Bagger?Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Is New 90 Day High Low • Jan 06New 90-day low: €116The company is down 13% from its price of €133 on 08 October 2020. The German market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 19% over the same period.
Is New 90 Day High Low • Dec 18New 90-day low: €120The company is down 5.0% from its price of €126 on 18 September 2020. The German market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 23% over the same period.
Is New 90 Day High Low • Oct 21New 90-day high: €141The company is up 11% from its price of €127 on 22 July 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Tech industry, which is up 12% over the same period.