J
10.00
+5.93%
Close of 6 Nov 2026, in BRL
At a glance
Figures in BRL, from our data supplier.
Revenue
BRL 3.48bn
FY2016FY2025
Net income
BRL 1.89bn
FY2016FY2025
Free cash flow
BRL 2.76bn
FY2016FY2025
Shareholders' equity
BRL 6.74bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | BRL 3.48bn | BRL 1.61bn | BRL 1.59bn | BRL 1.94bn | BRL 2.01bn | BRL 1.17bn | BRL 636.8m | BRL 485.7m | BRL 355.9m | BRL 385.0m |
| Research and development | — | — | BRL 0 | BRL 0 | BRL 0 | BRL 1 | BRL 1 | BRL 0 | BRL 0 | BRL 1 |
| Operating income | BRL 2.06bn | BRL 863.1m | BRL 562.0m | BRL 793.1m | BRL 1.23bn | BRL 619.5m | BRL 611.0m | BRL 328.6m | BRL 165.2m | −BRL 158.0m |
| Net income | BRL 1.89bn | BRL 854.4m | BRL 452.5m | BRL 642.3m | BRL 1.00bn | BRL 643.7m | BRL 322.2m | BRL 182.3m | −BRL 22.7m | −BRL 260.2m |
| Diluted earnings per share | 2.79 | 1.26 | 0.67 | 0.92 | 1.44 | 0.93 | 0.57 | 0.33 | -0.04 | -0.50 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | BRL 18.58bn | BRL 13.29bn | BRL 11.08bn | BRL 10.20bn | BRL 8.41bn | BRL 7.28bn | BRL 5.84bn | BRL 4.82bn | BRL 4.47bn | BRL 4.68bn |
| Cash and short-term investments | BRL 5.32bn | BRL 1.53bn | BRL 644.3m | BRL 925.7m | BRL 877.5m | BRL 1.04bn | BRL 537.1m | BRL 235.6m | BRL 32.9m | BRL 108.2m |
| Total liabilities | BRL 11.45bn | BRL 7.46bn | BRL 5.86bn | BRL 5.20bn | BRL 3.87bn | BRL 3.46bn | BRL 2.78bn | BRL 2.55bn | BRL 2.32bn | BRL 2.51bn |
| Debt | BRL 5.86bn | BRL 4.49bn | BRL 3.26bn | BRL 3.06bn | BRL 1.98bn | BRL 1.57bn | BRL 1.21bn | BRL 1.19bn | BRL 1.34bn | BRL 1.49bn |
| Shareholders' equity | BRL 6.74bn | BRL 5.41bn | BRL 4.81bn | BRL 4.75bn | BRL 4.46bn | BRL 3.75bn | BRL 3.01bn | BRL 2.23bn | BRL 2.12bn | BRL 2.15bn |
| Shares outstanding | 678m | 679m | 680m | 697m | 697m | 689m | 567m | 552m | 526m | 525m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | BRL 3.65bn | BRL 330.0m | BRL 119.9m | −BRL 215.1m | BRL 391.0m | BRL 173.3m | BRL 97.8m | −BRL 108.6m | −BRL 107.8m | −BRL 86.9m |
| Capital spending | −BRL 896.2m | −BRL 531.2m | −BRL 252.1m | −BRL 570.5m | −BRL 431.8m | −BRL 316.0m | −BRL 318.7m | −BRL 130.4m | −BRL 43.7m | −BRL 69.2m |
| Free cash flow | BRL 2.76bn | −BRL 201.2m | −BRL 132.2m | −BRL 785.7m | −BRL 40.8m | −BRL 142.7m | −BRL 220.9m | −BRL 239.0m | −BRL 151.5m | −BRL 156.1m |
| Dividends paid | −BRL 250.0m | −BRL 250.0m | −BRL 302.0m | −BRL 141.5m | −BRL 269.4m | −BRL 115.5m | −BRL 34.6m | −BRL 34.6m | −BRL 34.6m | −BRL 34.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | BRL 935.3m | BRL 537.7m | BRL 2.06bn | BRL 516.7m | BRL 496.1m | BRL 403.3m | BRL 544.6m | BRL 373.3m |
| Operating income | BRL 456.9m | BRL 376.4m | BRL 1.10bn | BRL 334.2m | BRL 294.1m | BRL 242.5m | BRL 319.6m | BRL 97.9m |
| Net income | BRL 452.1m | BRL 369.7m | BRL 1.01bn | BRL 298.9m | BRL 236.1m | BRL 348.1m | BRL 410.3m | BRL 148.4m |
| Diluted earnings per share | 0.65 | 0.53 | 1.49 | 0.44 | 0.35 | 0.51 | 0.60 | 0.22 |
| Cash from operations | BRL 161.0m | −BRL 233.0m | BRL 3.63bn | BRL 62.0m | BRL 60.0m | −BRL 103.0m | −BRL 125.0m | BRL 392.0m |
| Capital spending | −BRL 170.0m | −BRL 145.0m | −BRL 316.0m | −BRL 148.0m | −BRL 297.0m | −BRL 134.0m | −BRL 61.0m | −BRL 302.0m |
| Free cash flow | −BRL 9.0m | −BRL 378.0m | BRL 3.32bn | −BRL 86.0m | −BRL 237.0m | −BRL 237.0m | −BRL 186.0m | BRL 90.0m |
| Total assets | BRL 19.08bn | BRL 18.16bn | BRL 18.58bn | BRL 15.66bn | BRL 15.47bn | BRL 14.55bn | BRL 13.29bn | BRL 12.45bn |
| Cash and short-term investments | BRL 4.29bn | BRL 4.24bn | BRL 5.32bn | BRL 2.19bn | BRL 2.22bn | BRL 1.89bn | BRL 1.53bn | BRL 1.21bn |
| Debt | BRL 1.82bn | BRL 5.40bn | BRL 5.86bn | BRL 5.73bn | BRL 5.59bn | BRL 5.15bn | BRL 4.49bn | BRL 3.96bn |
| Shareholders' equity | BRL 7.51bn | BRL 7.06bn | BRL 6.74bn | BRL 6.29bn | BRL 5.99bn | BRL 5.75bn | BRL 5.41bn | BRL 5.27bn |
Financial ratios
Data as of 12 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | 75.8% | 82.8% | 35.3% | 54.7% | 62.8% | 52.9% | — | — |
| Net margin | 54.4% | 53.1% | 28.4% | 33.2% | 50.0% | 55.0% | — | — |
| Return on equity | 28.1% | 15.8% | 9.4% | 13.5% | 22.5% | 17.2% | — | — |
| Return on assets | 10.2% | 6.4% | 4.1% | 6.3% | 11.9% | 8.8% | — | — |
| Free cash flow yield | 46.0% | 8.7% | 3.7% | 3.5% | 8.1% | 4.9% | — | — |
| Revenue growth | 116.4% | 0.9% | -17.7% | -3.6% | 71.5% | 83.8% | — | — |
| Earnings growth | 121.7% | 88.8% | -29.5% | -36.0% | 55.9% | 99.8% | — | — |
| Current ratio | 1.76x | 1.75x | 2.18x | 4.08x | 2.42x | 1.72x | — | — |
| Debt to equity | 0.87x | 0.83x | 0.68x | 0.64x | 0.44x | 0.42x | — | — |
| Equity ratio | 36.3% | 40.7% | 43.4% | 46.5% | 53.1% | 51.5% | — | — |
| Interest coverage | 5.07x | 3.96x | 2.05x | 3.52x | 4.76x | 6.26x | — | — |
| 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 | 0.1% | 0.3% | 2.4% | -0.1% | -1.1% | -21.5% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 21.6% | 24.3% | 18.6% |
| Operating income | 37.4% | 27.1% | 16.2% |
| Net income | 43.4% | 24.1% | 33.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 57.4% | 49.6% | 51.9% | 52.7% |
| Net margin | 54.0% | 44.6% | 46.5% | 40.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 2.8 | 2.9 | 8.4 | 5.5 | 3.9 | 8.4 | 12.6 | 5.8 | -40.6 | -2.8 |
| Price to sales | 1.6 | 1.5 | 2.4 | 1.8 | 1.9 | 4.6 | 6.3 | 2.2 | 2.6 | 1.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 7 years. Last went ex-dividend on 1 Oct 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.346 | 0.623 | 0.093 | 0.647 | 0.353 | 0.394 | 0.146 | 0.20 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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