D
4.65
+1.53%
Close of 6 Nov 2026, in BRL
At a glance
Figures in BRL, from our data supplier.
Revenue
BRL 8.25bn
FY2016FY2025
Net income
BRL 1.2m
FY2016FY2025
Free cash flow
−BRL 60.3m
FY2016FY2025
Shareholders' equity
BRL 6.85bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | BRL 8.25bn | BRL 8.23bn | BRL 7.38bn | BRL 8.49bn | BRL 8.17bn | BRL 5.88bn | BRL 5.01bn | BRL 4.95bn | BRL 3.99bn | BRL 3.91bn |
| Gross profit | BRL 1.64bn | BRL 2.45bn | BRL 2.38bn | BRL 2.87bn | BRL 2.87bn | BRL 1.73bn | BRL 1.29bn | BRL 1.30bn | BRL 1.14bn | BRL 1.01bn |
| Operating income | BRL 182.7m | BRL 929.0m | BRL 1.26bn | BRL 1.83bn | BRL 2.06bn | BRL 757.7m | BRL 622.4m | BRL 732.7m | BRL 421.3m | BRL 317.1m |
| Net income | BRL 1.2m | BRL 172.4m | BRL 789.6m | BRL 755.9m | BRL 1.73bn | BRL 453.8m | BRL 405.6m | BRL 431.6m | BRL 184.9m | BRL 23.6m |
| Diluted earnings per share | 0.00 | 0.21 | 0.93 | 0.87 | 2.22 | 0.54 | 0.48 | 0.52 | 0.22 | 0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | BRL 19.00bn | BRL 18.14bn | BRL 17.97bn | BRL 15.62bn | BRL 13.42bn | BRL 11.50bn | BRL 10.71bn | BRL 9.48bn | BRL 9.47bn | BRL 9.34bn |
| Cash and short-term investments | BRL 2.53bn | BRL 1.75bn | BRL 2.79bn | BRL 1.77bn | BRL 1.42bn | BRL 1.73bn | BRL 1.24bn | BRL 1.16bn | BRL 1.07bn | BRL 1.42bn |
| Total liabilities | BRL 11.79bn | BRL 10.95bn | BRL 11.45bn | BRL 9.66bn | BRL 7.69bn | BRL 6.31bn | BRL 5.78bn | BRL 4.85bn | BRL 4.75bn | BRL 4.77bn |
| Debt | BRL 8.48bn | BRL 7.25bn | BRL 7.71bn | BRL 6.20bn | BRL 4.27bn | BRL 3.57bn | BRL 3.52bn | BRL 2.86bn | BRL 3.17bn | BRL 3.46bn |
| Shareholders' equity | BRL 6.85bn | BRL 6.98bn | BRL 6.40bn | BRL 5.87bn | BRL 5.73bn | BRL 5.19bn | BRL 4.93bn | BRL 4.63bn | BRL 4.72bn | BRL 4.57bn |
| Shares outstanding | 908m | 811m | 845m | 868m | 778m | 835m | 842m | 834m | 834m | 838m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | BRL 850.6m | BRL 1.28bn | BRL 1.35bn | BRL 793.7m | BRL 1.71bn | BRL 1.51bn | BRL 1.11bn | BRL 382.9m | BRL 404.7m | BRL 450.6m |
| Capital spending | −BRL 911.0m | −BRL 1.35bn | −BRL 1.25bn | −BRL 1.21bn | −BRL 857.3m | −BRL 487.4m | −BRL 455.7m | −BRL 442.1m | −BRL 365.9m | −BRL 380.8m |
| Free cash flow | −BRL 60.3m | −BRL 63.7m | BRL 97.6m | −BRL 419.4m | BRL 851.1m | BRL 1.02bn | BRL 652.8m | −BRL 59.2m | BRL 38.8m | BRL 69.8m |
| Dividends paid | −BRL 45.5m | −BRL 233.9m | −BRL 248.8m | −BRL 55,000 | −BRL 1.39bn | −BRL 257.3m | −BRL 545.8m | −BRL 60.8m | −BRL 6.1m | −BRL 105.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | BRL 2.23bn | BRL 2.02bn | BRL 2.10bn | BRL 2.13bn | BRL 2.12bn | BRL 1.90bn | BRL 2.06bn | BRL 2.24bn |
| Gross profit | BRL 499.0m | BRL 505.3m | BRL 368.0m | BRL 472.5m | BRL 487.0m | BRL 446.0m | BRL 509.1m | BRL 575.9m |
| Operating income | BRL 118.3m | BRL 140.5m | −BRL 9.8m | BRL 141.1m | BRL 103.1m | BRL 73.5m | BRL 28.6m | BRL 242.5m |
| Net income | −BRL 12.9m | BRL 53.3m | −BRL 87.5m | BRL 11.0m | BRL 31.7m | BRL 45.9m | BRL 22.5m | BRL 92.3m |
| Diluted earnings per share | -0.01 | 0.06 | -0.10 | 0.01 | 0.03 | 0.05 | 0.03 | 0.11 |
| Cash from operations | BRL 280.0m | BRL 476.0m | BRL 315.0m | BRL 256.0m | BRL 253.0m | BRL 29.0m | BRL 412.0m | BRL 408.0m |
| Capital spending | −BRL 243.0m | −BRL 152.0m | −BRL 327.0m | −BRL 188.0m | −BRL 224.0m | −BRL 172.0m | −BRL 371.0m | −BRL 291.0m |
| Free cash flow | BRL 37.0m | BRL 324.0m | −BRL 12.0m | BRL 68.0m | BRL 29.0m | −BRL 143.0m | BRL 41.0m | BRL 117.0m |
| Total assets | BRL 19.09bn | BRL 19.68bn | BRL 19.00bn | BRL 18.02bn | BRL 17.99bn | BRL 17.98bn | BRL 18.14bn | BRL 18.57bn |
| Cash and short-term investments | BRL 2.68bn | BRL 3.13bn | BRL 2.53bn | BRL 1.51bn | BRL 1.46bn | BRL 1.49bn | BRL 1.75bn | BRL 2.15bn |
| Debt | BRL 913.1m | BRL 5.38bn | BRL 8.54bn | BRL 7.52bn | BRL 6.36bn | BRL 6.58bn | BRL 7.25bn | BRL 8.03bn |
| Shareholders' equity | BRL 6.92bn | BRL 6.92bn | BRL 6.85bn | BRL 6.74bn | BRL 6.81bn | BRL 6.87bn | BRL 6.98bn | BRL 6.61bn |
Financial ratios
Data as of 16 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 19.8% | 29.8% | 32.2% | 33.8% | 35.1% | 29.5% |
| Operating margin | 2.2% | 14.9% | 17.1% | 21.6% | 27.9% | 13.1% |
| Net margin | 0.0% | 2.1% | 10.7% | 8.9% | 21.1% | 7.7% |
| Return on equity | 0.0% | 2.5% | 12.3% | 12.9% | 30.1% | 8.7% |
| Return on assets | 0.0% | 1.0% | 4.4% | 4.8% | 12.9% | 3.9% |
| Free cash flow yield | 26.1% | 43.6% | 41.2% | 31.0% | 44.2% | 32.1% |
| Revenue growth | 0.2% | 11.5% | -13.0% | 3.9% | 39.0% | 17.3% |
| Earnings growth | -99.3% | -78.2% | 4.5% | -56.2% | 280.2% | 11.9% |
| Current ratio | 2.24x | 1.39x | 1.63x | 1.58x | 1.38x | 1.75x |
| Debt to equity | 1.12x | 0.94x | 1.10x | 0.96x | 0.68x | 0.62x |
| Equity ratio | 36.0% | 38.5% | 35.6% | 37.6% | 42.7% | 45.1% |
| Interest coverage | 0.19x | 1.52x | 1.60x | 2.00x | 10.20x | 4.53x |
| Buybacks as a share of market value | -11.9% | 4.0% | 2.7% | -11.5% | 6.8% | 0.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -0.9% | 7.0% | 7.6% |
| Operating income | -53.6% | -24.8% | -5.6% |
| Net income | -88.4% | -69.6% | -39.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 24.8% | 28.9% | 30.0% | 29.0% |
| Operating margin | 6.7% | 13.0% | 15.1% | 13.8% |
| Net margin | 1.1% | 5.3% | 8.4% | 7.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | — | 25.0 | 7.7 | 7.0 | 5.5 | 27.5 | 27.1 | 17.8 | 32.4 | 187.9 |
| Price to sales | 0.5 | 0.5 | 0.8 | 0.6 | 1.2 | 2.1 | 2.2 | 1.6 | 1.5 | 1.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 9 years. Last went ex-dividend on 18 Mar 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.007 | 0.105 | 0.192 | 0.275 | 1.36 | 0.232 | 0.276 | 0.585 |
- 1.12-for-1 split · 26 Dec 2025
- 11-for-10 split · 21 Dec 2022
- 11-for-10 split · 15 Dec 2021
- 11-for-10 split · 23 Apr 2014
- 11-for-10 split · 23 Apr 2013
- 6-for-5 split · 2 May 2011
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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