2.82
+8.05%
Close of 9 Nov 2026, in BRL
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At a glance
Figures in BRL, from our data supplier.
Revenue
BRL 54.83bn
FY2016FY2025
Net income
BRL 810.5m
FY2016FY2025
Free cash flow
BRL 3.58bn
FY2016FY2025
Shareholders' equity
BRL 1.31bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | BRL 54.83bn | BRL 34.07bn | BRL 26.89bn | BRL 30.98bn | BRL 26.97bn | BRL 19.41bn | BRL 17.12bn | BRL 16.21bn | BRL 12.10bn | BRL 9.65bn |
| Gross profit | BRL 9.14bn | BRL 7.00bn | BRL 5.51bn | BRL 5.74bn | BRL 4.65bn | BRL 3.83bn | BRL 3.29bn | BRL 2.85bn | BRL 2.24bn | BRL 1.89bn |
| Operating income | BRL 3.75bn | BRL 2.46bn | BRL 1.97bn | BRL 1.61bn | BRL 1.60bn | BRL 1.39bn | BRL 1.46bn | BRL 693.4m | BRL 989.5m | BRL 908.9m |
| Net income | BRL 810.5m | −BRL 1.56bn | BRL 421.1m | BRL 652.5m | BRL 598.9m | BRL 697.1m | BRL 16.2m | −BRL 1.26bn | −BRL 281.0m | BRL 194.9m |
| Diluted earnings per share | 0.69 | -2.65 | 0.72 | 1.12 | 0.79 | 1.05 | 0.04 | -4.19 | -1.31 | 0.83 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | BRL 45.88bn | BRL 42.14bn | BRL 28.59bn | BRL 21.40bn | BRL 20.07bn | BRL 16.92bn | BRL 13.23bn | BRL 12.82bn | BRL 11.91bn | BRL 8.89bn |
| Cash and short-term investments | BRL 15.03bn | BRL 14.46bn | BRL 12.68bn | BRL 7.07bn | BRL 7.30bn | BRL 6.39bn | BRL 4.47bn | BRL 4.40bn | BRL 3.81bn | BRL 3.40bn |
| Total liabilities | BRL 43.98bn | BRL 42.05bn | BRL 27.93bn | BRL 20.34bn | BRL 19.42bn | BRL 16.08bn | BRL 13.52bn | BRL 13.13bn | BRL 11.83bn | BRL 8.36bn |
| Debt | BRL 27.84bn | BRL 30.12bn | BRL 21.58bn | BRL 13.80bn | BRL 13.44bn | BRL 11.62bn | BRL 10.52bn | BRL 10.47bn | BRL 9.61bn | BRL 6.83bn |
| Shareholders' equity | BRL 1.31bn | −BRL 478.6m | BRL 174.4m | BRL 506.8m | BRL 654.1m | BRL 840.1m | −BRL 281.7m | −BRL 301.1m | BRL 71.1m | BRL 520.6m |
| Shares outstanding | 1,173m | 588m | 587m | 584m | 755m | 663m | 375m | 302m | 215m | 236m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | BRL 4.70bn | BRL 6.56bn | BRL 2.70bn | BRL 3.13bn | BRL 2.59bn | BRL 3.22bn | BRL 1.76bn | BRL 1.33bn | BRL 549.8m | BRL 582.1m |
| Capital spending | −BRL 1.12bn | −BRL 742.8m | −BRL 714.9m | −BRL 813.3m | −BRL 504.2m | −BRL 354.7m | −BRL 247.1m | −BRL 189.1m | −BRL 252.3m | −BRL 179.6m |
| Free cash flow | BRL 3.58bn | BRL 5.81bn | BRL 1.98bn | BRL 2.32bn | BRL 2.09bn | BRL 2.87bn | BRL 1.51bn | BRL 1.14bn | BRL 297.5m | BRL 402.5m |
| Dividends paid | −BRL 162.1m | — | −BRL 295.3m | −BRL 328.1m | −BRL 583.4m | −BRL 138.5m | −BRL 138.5m | −BRL 138.5m | −BRL 11.4m | −BRL 48.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | BRL 14.10bn | BRL 13.41bn | BRL 14.20bn | BRL 15.51bn | BRL 13.92bn | BRL 11.20bn | BRL 10.71bn | BRL 8.50bn |
| Gross profit | BRL 2.25bn | BRL 2.30bn | BRL 2.35bn | BRL 2.47bn | BRL 2.45bn | BRL 2.08bn | BRL 2.13bn | BRL 1.77bn |
| Operating income | BRL 919.9m | BRL 874.7m | BRL 910.6m | BRL 1.11bn | BRL 1.24bn | BRL 720.3m | BRL 741.8m | BRL 858.8m |
| Net income | BRL 189.6m | BRL 57.7m | BRL 93.3m | BRL 118.1m | BRL 442.7m | BRL 156.4m | −BRL 1.53bn | BRL 86.1m |
| Diluted earnings per share | 0.16 | 0.05 | 0.08 | 0.10 | 0.38 | 0.13 | -2.60 | 0.15 |
| Cash from operations | −BRL 54.0m | −BRL 323.0m | BRL 954.0m | BRL 3.38bn | BRL 320.0m | BRL 48.0m | BRL 2.54bn | BRL 1.89bn |
| Capital spending | −BRL 191.0m | −BRL 277.0m | −BRL 354.0m | −BRL 306.0m | −BRL 240.0m | −BRL 224.0m | −BRL 220.0m | −BRL 147.0m |
| Free cash flow | −BRL 245.0m | −BRL 600.0m | BRL 600.0m | BRL 3.07bn | BRL 80.0m | −BRL 176.0m | BRL 2.32bn | BRL 1.74bn |
| Total assets | BRL 46.74bn | BRL 41.64bn | BRL 45.88bn | BRL 45.35bn | BRL 44.48bn | BRL 40.18bn | BRL 42.14bn | BRL 35.97bn |
| Cash and short-term investments | BRL 14.93bn | BRL 10.88bn | BRL 15.03bn | BRL 14.89bn | BRL 12.55bn | BRL 11.87bn | BRL 14.46bn | BRL 16.82bn |
| Debt | BRL 5.63bn | BRL 24.59bn | BRL 27.84bn | BRL 26.73bn | BRL 26.76bn | BRL 27.49bn | BRL 30.12bn | BRL 25.71bn |
| Shareholders' equity | BRL 1.58bn | BRL 1.26bn | BRL 1.31bn | BRL 1.29bn | BRL 1.43bn | −BRL 650.7m | −BRL 478.6m | BRL 744.2m |
Financial ratios
Data as of 14 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 16.7% | 20.6% | 20.5% | 18.5% | 17.2% | 19.8% |
| Operating margin | 6.8% | 4.5% | 7.3% | 5.2% | 5.9% | 9.3% |
| Net margin | 1.5% | -4.6% | 1.6% | 2.1% | 2.2% | 3.6% |
| Return on equity | 61.9% | 325.7% | 241.5% | 128.7% | 91.6% | 83.0% |
| Return on assets | 1.8% | -3.7% | 1.5% | 3.0% | 3.0% | 4.1% |
| Free cash flow yield | 113.9% | 284.6% | 133.4% | 155.0% | 94.2% | 123.8% |
| Revenue growth | 60.9% | 26.7% | -13.2% | 14.9% | 39.0% | 13.3% |
| Earnings growth | -152.0% | -470.2% | -35.5% | 9.0% | -14.1% | 4214.5% |
| Current ratio | 1.34x | 1.48x | 1.86x | 1.60x | 1.90x | 1.76x |
| Debt to equity | 21.23x | -62.87x | 123.68x | 27.18x | 20.51x | 13.79x |
| Equity ratio | 2.9% | -1.1% | 0.6% | 2.4% | 3.3% | 5.0% |
| Interest coverage | 1.18x | 0.50x | 1.59x | 1.32x | 1.58x | 1.73x |
| Buybacks as a share of market value | -99.3% | -0.3% | -0.4% | 22.6% | -13.9% | -76.6% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 21.0% | 23.1% | 19.1% |
| Operating income | 32.6% | 22.0% | 14.8% |
| Net income | 7.5% | 3.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 18.2% | 18.7% | 18.6% | 18.6% |
| Operating margin | 7.0% | 6.7% | 6.6% | 6.9% |
| Net margin | -0.8% | 0.2% | 0.8% | -0.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 8.3 | -1.9 | 10.4 | 11.6 | 13.4 | 9.7 | 293.3 | -1.2 | -8.0 | 14.4 |
| Price to sales | 0.1 | 0.1 | 0.2 | 0.2 | 0.3 | 0.3 | 0.3 | 0.1 | 0.2 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 29 Apr 2026.
| FY2026 | FY2025 | FY2023 | FY2022 | FY2021 | FY2020 | FY2017 | FY2012 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.031 | 0.165 | 0.551 | 0.562 | 1.079 | 0.301 | 0.264 | 0.115 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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