I 
2.96
+4.23%
Close of 6 Nov 2026, in BRL
At a glance
Figures in BRL, from our data supplier.
Revenue
BRL 1.49bn
FY2016FY2025
Net income
BRL 582.5m
FY2016FY2025
Free cash flow
−BRL 775.3m
FY2016FY2025
Shareholders' equity
BRL 4.65bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | BRL 1.49bn | BRL 1.24bn | BRL 1.16bn | BRL 1.02bn | BRL 858.1m | BRL 676.7m | BRL 755.4m | BRL 722.6m | BRL 693.2m | BRL 668.7m |
| Gross profit | BRL 1.12bn | BRL 829.7m | BRL 739.0m | BRL 595.5m | BRL 488.8m | BRL 401.3m | BRL 503.1m | BRL 505.3m | BRL 480.9m | BRL 460.3m |
| Operating income | BRL 1.24bn | BRL 715.3m | BRL 638.2m | BRL 507.6m | BRL 562.2m | BRL 337.0m | BRL 478.7m | BRL 415.5m | BRL 404.5m | BRL 361.7m |
| Net income | BRL 582.5m | BRL 399.8m | BRL 304.7m | BRL 7.6m | BRL 239.0m | BRL 76.5m | BRL 128.7m | BRL 110.2m | BRL 78.2m | BRL 21.6m |
| Diluted earnings per share | 0.47 | 0.33 | 0.25 | 0.01 | 0.21 | 0.09 | 0.15 | 0.13 | 0.09 | 0.02 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | BRL 9.50bn | BRL 8.50bn | BRL 7.85bn | BRL 8.05bn | BRL 7.37bn | BRL 7.01bn | BRL 5.75bn | BRL 5.39bn | BRL 5.16bn | BRL 5.30bn |
| Cash and short-term investments | BRL 1.75bn | BRL 1.81bn | BRL 1.60bn | BRL 1.83bn | BRL 2.00bn | BRL 1.61bn | BRL 998.4m | BRL 664.6m | BRL 482.9m | BRL 618.3m |
| Total liabilities | BRL 4.85bn | BRL 4.19bn | BRL 3.68bn | BRL 3.94bn | BRL 3.93bn | BRL 3.84bn | BRL 2.72bn | BRL 2.54bn | BRL 2.40bn | BRL 2.57bn |
| Debt | BRL 3.96bn | BRL 3.44bn | BRL 3.37bn | BRL 3.10bn | BRL 3.43bn | BRL 3.57bn | BRL 2.47bn | BRL 2.33bn | BRL 2.23bn | BRL 2.36bn |
| Shareholders' equity | BRL 4.65bn | BRL 4.31bn | BRL 4.18bn | BRL 4.09bn | BRL 3.43bn | BRL 1.62bn | BRL 1.54bn | BRL 1.45bn | BRL 1.40bn | BRL 1.40bn |
| Shares outstanding | 1,241m | 1,226m | 1,227m | 1,233m | 1,126m | 880m | 879m | 879m | 879m | 955m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | BRL 328.9m | BRL 447.1m | BRL 378.1m | BRL 192.7m | BRL 174.4m | BRL 123.5m | BRL 403.2m | BRL 389.2m | BRL 308.1m | BRL 283.6m |
| Capital spending | −BRL 1.10bn | −BRL 339.9m | −BRL 919.7m | −BRL 175.6m | −BRL 167.0m | −BRL 494.1m | −BRL 166.2m | −BRL 170.7m | −BRL 98.1m | −BRL 161.2m |
| Free cash flow | −BRL 775.3m | BRL 107.2m | −BRL 541.6m | BRL 17.1m | BRL 7.4m | −BRL 370.6m | BRL 236.9m | BRL 218.5m | BRL 210.1m | BRL 122.4m |
| Dividends paid | −BRL 199.7m | −BRL 199.7m | −BRL 109.9m | −BRL 89.9m | −BRL 10.0m | −BRL 47.9m | −BRL 111.3m | −BRL 95.9m | −BRL 73.0m | −BRL 28.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | BRL 389.3m | BRL 357.4m | BRL 411.6m | BRL 368.2m | BRL 394.0m | BRL 312.1m | BRL 351.0m | BRL 307.3m |
| Gross profit | BRL 389.3m | BRL 260.6m | BRL 301.5m | BRL 368.2m | BRL 300.0m | BRL 237.7m | BRL 240.0m | BRL 205.7m |
| Operating income | BRL 341.9m | BRL 358.1m | BRL 174.3m | BRL 329.8m | BRL 397.1m | BRL 200.6m | BRL 230.2m | BRL 171.4m |
| Net income | BRL 135.1m | BRL 237.6m | BRL 145.1m | BRL 120.9m | BRL 209.1m | BRL 107.4m | BRL 141.2m | BRL 101.2m |
| Diluted earnings per share | 0.11 | 0.20 | 0.12 | 0.10 | 0.17 | 0.09 | 0.12 | 0.08 |
| Cash from operations | BRL 50.0m | BRL 166.0m | −BRL 6.0m | BRL 133.0m | BRL 341.0m | −BRL 139.0m | BRL 134.0m | BRL 90.0m |
| Capital spending | −BRL 198.0m | −BRL 106.0m | −BRL 1.10bn | −BRL 104.0m | −BRL 1.14bn | −BRL 42.0m | −BRL 339.0m | −BRL 84.0m |
| Free cash flow | −BRL 148.0m | BRL 60.0m | −BRL 1.11bn | BRL 29.0m | −BRL 803.0m | −BRL 181.0m | −BRL 205.0m | BRL 6.0m |
| Total assets | BRL 10.07bn | BRL 9.68bn | BRL 9.50bn | BRL 9.43bn | BRL 9.73bn | BRL 8.95bn | BRL 8.50bn | BRL 8.36bn |
| Cash and short-term investments | — | BRL 2.03bn | BRL 1.75bn | BRL 1.84bn | BRL 1.71bn | BRL 2.28bn | BRL 1.81bn | BRL 1.59bn |
| Debt | BRL 3.94bn | BRL 3.94bn | BRL 3.96bn | BRL 3.60bn | BRL 4.09bn | BRL 4.13bn | BRL 3.44bn | BRL 3.49bn |
| Shareholders' equity | BRL 4.94bn | BRL 4.87bn | BRL 4.65bn | BRL 4.64bn | BRL 4.51bn | BRL 4.41bn | BRL 4.31bn | BRL 4.26bn |
Financial ratios
Data as of 8 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 72.4% | 67.1% | 63.9% | 58.6% | 57.0% | 59.3% | — | — |
| Operating margin | 64.6% | 70.7% | 68.2% | 35.3% | 95.9% | 60.3% | — | — |
| Net margin | 29.6% | 32.3% | 26.3% | 0.7% | 27.9% | 11.3% | — | — |
| Return on equity | 12.5% | 9.3% | 7.3% | 0.2% | 7.0% | 4.7% | — | — |
| Return on assets | 6.1% | 4.7% | 3.9% | 0.1% | 3.2% | 1.1% | — | — |
| Free cash flow yield | 29.2% | 16.3% | 26.8% | 7.6% | 7.7% | 17.8% | — | — |
| Revenue growth | 59.4% | 6.8% | 13.9% | 18.4% | 26.8% | -10.4% | — | — |
| Earnings growth | 45.7% | 31.2% | 3926.3% | -96.8% | 212.4% | -40.5% | — | — |
| Current ratio | 6.82x | 2.76x | 2.13x | 1.27x | 4.64x | 2.33x | — | — |
| Debt to equity | 0.85x | 0.58x | 0.81x | 0.76x | 1.00x | 2.21x | — | — |
| Equity ratio | 49.0% | 50.7% | 53.2% | 50.9% | 46.5% | 23.1% | — | — |
| Interest coverage | 2.13x | 2.16x | 1.85x | 0.84x | 2.88x | 2.51x | — | — |
| R&D as a share of sales | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | -1.3% | 0.1% | 0.5% | -9.5% | -28.0% | -0.1% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 13.5% | 17.1% | 8.9% |
| Operating income | 34.6% | 29.7% | — |
| Net income | 325.4% | 50.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 71.4% | 67.0% | 64.8% | 66.1% |
| Operating margin | 71.8% | 63.3% | 62.2% | 54.2% |
| Net margin | 36.1% | 26.4% | 25.0% | 18.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 6.2 | 6.4 | 12.1 | 431.7 | 12.9 | 30.2 | 25.8 | 18.2 | 12.6 | 12.6 |
| Price to sales | 2.5 | 2.1 | 3.2 | 3.2 | 3.6 | 3.4 | 4.4 | 2.8 | 1.4 | 0.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 9 years. Last went ex-dividend on 16 Oct 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.048 | 0.145 | 0.096 | 0.052 | 0.049 | 0.011 | 0.011 | 0.04 |
- 10-for-1 split · 27 Dec 2021
- 1-to-1 reverse split · 22 Nov 2021
- 10-to-1 reverse split · 28 Apr 2016
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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