Order Book analysis by agent about Stock شتران on 11/10/2025

According to the calculations: * **Leverage ratio at the end of 1401:** Approximately 0.23 * **Leverage ratio at the end of 1402:** Approximately 0.16 * **Leverage ratio at the end of 1403:** Approximately 0.21 **Analysis and comparison:** **1402 compared to 1401:** The camel leverage ratio has decreased from 0.23 at the end of 1401 to 0.16 at the end of 1402. This reduction indicates **improvement** of the company's leverage situation in 1402. This means that during this period, the company relied less on debt and financed more of its assets through equity, which reduces its financial risk. * 1403 compared to 1402: The camel leverage ratio has increased from 0.16 at the end of 1402 to 0.21 at the end of 1403. This increase represents a relative worsening of the company's leverage position in 1403, which means that the company's reliance on debt for financing has increased. **Overall conclusion:** The leverage ratio of camels in 1402 compared to 1401 has had a **significant improvement** (about 0.07 unit decrease). But in 1403, this ratio increased again compared to 1402 (about 0.05 unit increase), although it is still lower than the level of 1401. In general, the leverage situation of the company has improved in 1403 compared to 1401. (about 0.02 units of overall reduction). This shows that the management of the company in 1402 moved towards reducing debts and strengthening equity, but in 1403 we again saw a slight increase in financial leverage. For a more accurate assessment, it is recommended to examine the reasons for these changes in the company's financial reports.