A 
11.89
+2.77%
Close of 9 Nov 2026, in BRL
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in BRL, from our data supplier.
Revenue
BRL 13.18bn
FY2018FY2025
Net income
−BRL 664.0m
FY2018FY2025
Free cash flow
BRL 656.6m
FY2018FY2025
Shareholders' equity
BRL 12.51bn
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | BRL 13.18bn | BRL 8.06bn | BRL 6.18bn | BRL 5.52bn | BRL 2.62bn | BRL 2.31bn | BRL 2.00bn | BRL 440.2m |
| Research and development | — | BRL 14.4m | BRL 12.7m | BRL 17.1m | BRL 15.7m | — | — | — |
| Operating income | BRL 1.46bn | BRL 1.26bn | BRL 1.09bn | BRL 1.26bn | BRL 1.20bn | BRL 914.1m | BRL 1.20bn | BRL 218.9m |
| Net income | −BRL 664.0m | BRL 250.9m | −BRL 317.7m | BRL 2.67bn | BRL 58.7m | BRL 1.03bn | BRL 551.2m | BRL 32.6m |
| Diluted earnings per share | -0.63 | 0.21 | -0.32 | 2.55 | 0.06 | 2.20 | 1.18 | 0.07 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | BRL 48.73bn | BRL 52.75bn | BRL 28.99bn | BRL 32.28bn | BRL 19.56bn | BRL 18.42bn | BRL 16.39bn | BRL 13.68bn |
| Cash and short-term investments | BRL 4.50bn | BRL 7.20bn | BRL 3.24bn | BRL 3.23bn | BRL 1.67bn | BRL 1.10bn | BRL 987.4m | BRL 525.1m |
| Total liabilities | BRL 34.95bn | BRL 38.27bn | BRL 16.63bn | BRL 17.03bn | BRL 10.52bn | BRL 10.17bn | BRL 8.21bn | BRL 6.63bn |
| Debt | BRL 24.70bn | BRL 27.22bn | BRL 6.42bn | BRL 5.87bn | BRL 4.72bn | BRL 3.76bn | BRL 107.0m | BRL 321.4m |
| Shareholders' equity | BRL 12.51bn | BRL 13.20bn | BRL 12.37bn | BRL 15.25bn | BRL 4.46bn | BRL 3.88bn | BRL 3.83bn | BRL 2.79bn |
| Shares outstanding | 1,046m | 1,202m | 1,000m | 1,049m | 996m | 467m | 467m | 467m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | BRL 1.63bn | BRL 600.5m | BRL 4.66bn | BRL 651.8m | BRL 1.01bn | BRL 930.4m | BRL 905.8m | BRL 159.8m |
| Capital spending | −BRL 970.3m | −BRL 248.3m | −BRL 2.09bn | −BRL 1.57bn | −BRL 672.7m | −BRL 179.1m | −BRL 165.5m | −BRL 13.8m |
| Free cash flow | BRL 656.6m | BRL 352.3m | BRL 2.57bn | −BRL 920.8m | BRL 340.1m | BRL 751.3m | BRL 740.3m | BRL 146.0m |
| Dividends paid | −BRL 241.8m | −BRL 399.9m | −BRL 3.00bn | −BRL 100.0m | −BRL 502.4m | −BRL 363.7m | −BRL 297.2m | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | BRL 3.06bn | BRL 3.07bn | BRL 3.80bn | BRL 3.54bn | BRL 2.89bn | BRL 2.95bn | BRL 3.17bn | BRL 2.05bn |
| Operating income | BRL 297.4m | BRL 339.9m | BRL 228.7m | BRL 198.8m | −BRL 73.3m | BRL 670.9m | BRL 416.2m | BRL 249.0m |
| Net income | −BRL 410.9m | −BRL 621.3m | BRL 339.9m | −BRL 397.0m | −BRL 615.4m | BRL 8.5m | −BRL 364.6m | BRL 270.8m |
| Diluted earnings per share | -0.39 | -0.59 | 0.32 | -0.38 | -0.59 | 0.01 | -0.30 | 0.23 |
| Cash from operations | BRL 564.0m | BRL 330.0m | BRL 171.0m | BRL 339.0m | BRL 514.0m | BRL 465.0m | −BRL 310.0m | BRL 347.0m |
| Capital spending | −BRL 139.0m | −BRL 125.0m | −BRL 466.0m | −BRL 172.0m | −BRL 187.0m | −BRL 143.0m | −BRL 35.0m | −BRL 66.0m |
| Free cash flow | BRL 425.0m | BRL 205.0m | −BRL 295.0m | BRL 167.0m | BRL 327.0m | BRL 322.0m | −BRL 345.0m | BRL 281.0m |
| Total assets | BRL 46.71bn | BRL 47.38bn | BRL 48.73bn | BRL 48.83bn | BRL 49.20bn | BRL 52.27bn | BRL 52.75bn | BRL 31.49bn |
| Cash and short-term investments | BRL 3.68bn | BRL 3.67bn | BRL 4.50bn | BRL 5.08bn | BRL 4.93bn | BRL 6.16bn | BRL 7.20bn | BRL 5.30bn |
| Debt | BRL 23.51bn | BRL 23.72bn | BRL 24.70bn | BRL 24.99bn | BRL 22.52bn | BRL 26.16bn | BRL 27.22bn | BRL 8.38bn |
| Shareholders' equity | BRL 11.51bn | BRL 11.91bn | BRL 12.51bn | BRL 12.28bn | BRL 12.68bn | BRL 13.25bn | BRL 13.20bn | BRL 12.59bn |
Financial ratios
Data as of 3 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 11.1% | 15.7% | 17.7% | 22.9% | 45.7% | 39.6% |
| Net margin | -5.0% | 3.1% | -5.1% | 48.5% | 2.2% | 44.5% |
| Return on equity | -5.3% | 1.9% | -2.6% | 17.5% | 1.3% | 26.4% |
| Return on assets | -1.4% | 0.5% | -1.1% | 8.3% | 0.3% | 5.6% |
| Free cash flow yield | 18.0% | 5.1% | 48.9% | 15.3% | 12.2% | 17.2% |
| Revenue growth | 63.5% | 30.4% | 12.1% | 110.2% | 13.7% | 15.2% |
| Earnings growth | -364.6% | -179.0% | -111.9% | 4453.0% | -94.3% | 86.1% |
| Current ratio | 1.32x | 1.56x | 1.54x | 1.49x | 1.47x | 1.21x |
| Debt to equity | 1.96x | 2.05x | 0.51x | 0.38x | 1.06x | 0.97x |
| Equity ratio | 25.7% | 25.0% | 42.7% | 47.2% | 22.8% | 21.1% |
| Interest coverage | 0.59x | 1.52x | 2.61x | 0.98x | 1.98x | 4.02x |
| R&D as a share of sales | — | 0.2% | 0.2% | 0.3% | 0.6% | — |
| Buybacks as a share of market value | 13.0% | -20.2% | 4.7% | -5.3% | -113.5% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 33.7% | 41.7% | — |
| Operating income | 5.1% | 9.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 12.8% | 15.4% | 19.0% | — |
| Net margin | -1.9% | 5.9% | 8.0% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | -18.7 | 42.0 | -41.9 | 5.8 |
| Price to sales | 0.9 | 1.3 | 2.1 | 2.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 25 Apr 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Paid in the year | 0.057 | 0.40 | 3.00 | 0.014 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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