I 
26.80
+3.28%
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 9.41bn
FY2016FY2025
Net income
BRL 2.45bn
FY2016FY2025
Free cash flow
−BRL 1.26bn
FY2016FY2025
Shareholders' equity
BRL 21.15bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | BRL 9.41bn | BRL 7.97bn | BRL 6.22bn | BRL 5.45bn | BRL 5.53bn | BRL 3.70bn | BRL 3.33bn | BRL 3.18bn | BRL 2.70bn | BRL 7.79bn |
| Research and development | — | — | BRL 39.6m | BRL 32.3m | BRL 30.5m | BRL 39.3m | — | — | — | — |
| Operating income | BRL 4.13bn | BRL 5.13bn | BRL 3.46bn | BRL 3.35bn | BRL 4.17bn | BRL 4.24bn | BRL 2.16bn | BRL 2.24bn | BRL 1.90bn | BRL 7.13bn |
| Net income | BRL 2.45bn | BRL 3.50bn | BRL 2.84bn | BRL 2.26bn | BRL 3.02bn | BRL 3.36bn | BRL 1.76bn | BRL 1.88bn | BRL 1.37bn | BRL 4.93bn |
| Diluted earnings per share | 3.71 | 5.31 | 4.31 | 3.43 | 4.58 | 5.10 | 3.32 | 2.86 | 2.07 | 7.50 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | BRL 47.20bn | BRL 43.30bn | BRL 35.91bn | BRL 32.24bn | BRL 28.98bn | BRL 24.59bn | BRL 21.60bn | BRL 18.54bn | BRL 17.25bn | BRL 15.07bn |
| Cash and short-term investments | BRL 2.16bn | BRL 3.40bn | BRL 1.77bn | BRL 1.24bn | BRL 1.10bn | BRL 2.52bn | BRL 2.66bn | BRL 697.6m | BRL 616.7m | BRL 340.7m |
| Total liabilities | BRL 25.76bn | BRL 23.59bn | BRL 18.12bn | BRL 15.71bn | BRL 14.18bn | BRL 10.47bn | BRL 9.80bn | BRL 7.47bn | BRL 6.27bn | BRL 4.95bn |
| Debt | BRL 15.40bn | BRL 13.27bn | BRL 9.27bn | BRL 8.04bn | BRL 7.42bn | BRL 4.54bn | BRL 3.29bn | BRL 3.01bn | BRL 1.94bn | BRL 1.01bn |
| Shareholders' equity | BRL 21.15bn | BRL 19.71bn | BRL 17.38bn | BRL 16.18bn | BRL 14.40bn | BRL 13.75bn | BRL 11.79bn | BRL 11.07bn | BRL 10.98bn | BRL 10.12bn |
| Shares outstanding | 659m | 659m | 659m | 659m | 659m | 659m | 532m | 659m | 659m | 657m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −BRL 1.22bn | −BRL 181.5m | BRL 589.8m | BRL 599.7m | BRL 898.9m | BRL 1.38bn | BRL 1.30bn | BRL 1.31bn | BRL 566.9m | BRL 319.5m |
| Capital spending | −BRL 44.4m | −BRL 43.4m | −BRL 46.0m | −BRL 34.1m | −BRL 14.9m | −BRL 13.0m | −BRL 21.4m | −BRL 7.8m | −BRL 5.6m | −BRL 11.5m |
| Free cash flow | −BRL 1.26bn | −BRL 224.9m | BRL 543.9m | BRL 565.6m | BRL 884.1m | BRL 1.36bn | BRL 1.28bn | BRL 1.31bn | BRL 561.3m | BRL 308.0m |
| Dividends paid | −BRL 1.70bn | −BRL 1.24bn | −BRL 597.8m | −BRL 97.7m | −BRL 2.66bn | −BRL 747.4m | −BRL 900.7m | −BRL 2.06bn | −BRL 636.1m | −BRL 109.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | BRL 2.60bn | BRL 2.51bn | BRL 3.01bn | BRL 2.56bn | BRL 1.43bn | BRL 2.41bn | BRL 2.52bn | BRL 1.81bn |
| Operating income | BRL 1.26bn | BRL 1.29bn | BRL 1.21bn | BRL 1.28bn | — | BRL 1.35bn | BRL 1.14bn | BRL 729.9m |
| Net income | BRL 688.6m | BRL 609.1m | BRL 734.7m | BRL 784.8m | BRL 215.2m | BRL 713.2m | BRL 1.21bn | BRL 1.11bn |
| Diluted earnings per share | 1.03 | 0.92 | 1.11 | 1.19 | 0.33 | 1.08 | 1.84 | 1.68 |
| Cash from operations | −BRL 127.0m | −BRL 366.0m | −BRL 1.22bn | −BRL 617.0m | −BRL 467.0m | −BRL 176.0m | −BRL 181.0m | −BRL 113.0m |
| Capital spending | −BRL 3.0m | −BRL 9.0m | −BRL 44.0m | −BRL 21.0m | −BRL 10.0m | −BRL 3.0m | −BRL 43.0m | −BRL 11.0m |
| Free cash flow | −BRL 130.0m | −BRL 375.0m | −BRL 1.26bn | −BRL 638.0m | −BRL 477.0m | −BRL 179.0m | −BRL 224.0m | −BRL 124.0m |
| Total assets | BRL 49.95bn | BRL 47.94bn | BRL 47.20bn | BRL 45.64bn | BRL 43.95bn | BRL 44.69bn | BRL 43.30bn | BRL 40.65bn |
| Cash and short-term investments | — | — | BRL 2.16bn | BRL 2.42bn | BRL 1.83bn | BRL 3.28bn | BRL 3.40bn | BRL 2.51bn |
| Debt | BRL 17.24bn | BRL 15.86bn | BRL 15.40bn | BRL 14.37bn | BRL 13.76bn | BRL 13.62bn | BRL 12.07bn | BRL 11.56bn |
| Shareholders' equity | BRL 22.16bn | BRL 21.43bn | BRL 21.15bn | BRL 20.91bn | BRL 20.60bn | BRL 20.41bn | BRL 19.71bn | BRL 19.72bn |
Financial ratios
Data as of 27 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 36.5% | 53.6% | 55.9% | 54.7% | 70.8% | 118.7% |
| Net margin | 26.0% | 43.9% | 45.7% | 41.5% | 54.5% | 90.9% |
| Return on equity | 11.6% | 17.7% | 16.3% | 14.0% | 21.0% | 24.4% |
| Return on assets | 5.2% | 8.1% | 7.9% | 7.0% | 10.4% | 13.7% |
| Free cash flow yield | -9.5% | -0.8% | 3.5% | — | — | — |
| Revenue growth | 18.1% | 28.2% | 14.0% | -1.5% | 49.7% | — |
| Earnings growth | -30.0% | 23.1% | 25.6% | -25.1% | -10.2% | — |
| Current ratio | 3.76x | 2.43x | 2.45x | 3.61x | 3.05x | 4.01x |
| Debt to equity | 0.76x | 0.67x | 0.53x | 0.49x | 0.51x | 0.02x |
| Equity ratio | 44.8% | 45.5% | 48.4% | 50.2% | 49.7% | 55.9% |
| Interest coverage | 2.55x | 4.76x | 4.51x | 3.04x | 10.64x | 25.67x |
| R&D as a share of sales | 0.5% | — | — | — | — | — |
| Buybacks as a share of market value | 0.0% | -0.0% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 20.0% | 20.6% | 22.0% |
| Operating income | 7.3% | -0.5% | 24.7% |
| Net income | 2.7% | -6.1% | 17.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 53.3% | 55.3% | 64.0% | 67.8% |
| Net margin | 34.2% | 38.0% | 45.5% | 49.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 7.3 | 4.3 | 6.2 | 6.7 | 5.3 | 5.5 | 6.8 | 6.1 | 8.1 | 2.2 |
| Price to sales | 1.9 | 1.9 | 2.8 | 2.8 | 2.9 | 5.0 | 3.6 | 3.6 | 4.1 | 1.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 9 Oct 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.613 | 1.427 | 2.361 | 2.204 | 1.062 | 3.589 | 1.74 | 1.511 |
- 4-for-1 split · 5 Apr 2019
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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