S 
5.59
-2.27%
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 43.53bn
FY2016FY2025
Net income
BRL 39.5m
FY2016FY2025
Free cash flow
−BRL 1.94bn
FY2016FY2025
Shareholders' equity
BRL 4.51bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | BRL 43.53bn | BRL 41.06bn | BRL 31.84bn | BRL 24.08bn | BRL 13.87bn | BRL 9.81bn | BRL 9.69bn | BRL 8.08bn | BRL 7.26bn | BRL 6.52bn |
| Operating income | BRL 8.27bn | BRL 6.66bn | BRL 4.68bn | BRL 4.89bn | BRL 3.13bn | BRL 1.77bn | BRL 3.63bn | BRL 962.7m | BRL 740.0m | BRL 613.2m |
| Net income | BRL 39.5m | −BRL 198.2m | −BRL 495.2m | BRL 482.1m | BRL 822.3m | BRL 276.0m | BRL 119.4m | BRL 131.3m | −BRL 2.7m | −BRL 183.2m |
| Diluted earnings per share | 0.09 | -0.46 | -1.20 | 1.15 | 1.85 | 0.67 | 0.29 | 0.31 | -0.01 | -0.42 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | BRL 88.64bn | BRL 84.03bn | BRL 70.14bn | BRL 61.66bn | BRL 47.97bn | BRL 25.56bn | BRL 21.17bn | BRL 15.87bn | BRL 11.50bn | BRL 8.87bn |
| Cash and short-term investments | BRL 14.10bn | BRL 12.97bn | BRL 10.95bn | BRL 12.74bn | BRL 18.65bn | BRL 8.33bn | BRL 5.81bn | BRL 4.85bn | BRL 2.43bn | BRL 1.04bn |
| Total liabilities | BRL 81.23bn | BRL 78.30bn | BRL 63.39bn | BRL 56.08bn | BRL 42.14bn | BRL 22.34bn | BRL 18.62bn | BRL 14.63bn | BRL 10.31bn | BRL 8.26bn |
| Debt | BRL 60.10bn | BRL 57.40bn | BRL 45.30bn | BRL 39.82bn | BRL 34.38bn | BRL 17.70bn | BRL 14.57bn | BRL 12.00bn | BRL 8.27bn | BRL 6.30bn |
| Shareholders' equity | BRL 4.51bn | BRL 2.75bn | BRL 3.33bn | BRL 2.88bn | BRL 3.52bn | BRL 1.89bn | BRL 915.5m | BRL 753.1m | BRL 686.8m | BRL 609.0m |
| Shares outstanding | 427m | 427m | 414m | 419m | 444m | 413m | 416m | 417m | 414m | 433m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −BRL 781.5m | −BRL 3.56bn | −BRL 1.38bn | −BRL 6.84bn | −BRL 14.71bn | −BRL 2.18bn | −BRL 2.00bn | BRL 2.77bn | −BRL 601.8m | BRL 478.3m |
| Capital spending | −BRL 1.16bn | −BRL 1.48bn | −BRL 988.3m | −BRL 660.9m | −BRL 612.5m | −BRL 224.8m | −BRL 201.8m | −BRL 3.21bn | −BRL 23.4m | −BRL 73.1m |
| Free cash flow | −BRL 1.94bn | −BRL 5.04bn | −BRL 2.37bn | −BRL 7.50bn | −BRL 15.33bn | −BRL 2.40bn | −BRL 2.20bn | −BRL 449.3m | −BRL 625.2m | BRL 405.2m |
| Dividends paid | −BRL 229.1m | −BRL 157.2m | −BRL 481.6m | −BRL 415.2m | −BRL 163.6m | −BRL 12.8m | −BRL 52.8m | −BRL 26.1m | −BRL 52.9m | −BRL 208.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | BRL 11.25bn | BRL 11.08bn | BRL 11.00bn | BRL 11.39bn | BRL 10.61bn | BRL 10.53bn | BRL 10.74bn | BRL 10.87bn |
| Operating income | BRL 3.63bn | BRL 3.77bn | BRL 1.22bn | BRL 1.79bn | BRL 1.85bn | BRL 1.79bn | BRL 1.62bn | BRL 1.75bn |
| Net income | −BRL 189.5m | −BRL 179.6m | BRL 432.9m | −BRL 246.2m | −BRL 96.3m | −BRL 51.0m | −BRL 245.2m | BRL 10.8m |
| Diluted earnings per share | -0.32 | -0.31 | 1.01 | -0.58 | -0.23 | -0.12 | -0.57 | 0.03 |
| Cash from operations | −BRL 569.0m | BRL 487.0m | −BRL 2.60bn | BRL 2.15bn | BRL 1.01bn | −BRL 1.33bn | BRL 699.0m | −BRL 1.91bn |
| Capital spending | −BRL 101.0m | −BRL 290.0m | −BRL 147.0m | −BRL 357.0m | −BRL 432.0m | −BRL 224.0m | −BRL 399.0m | −BRL 301.0m |
| Free cash flow | −BRL 670.0m | BRL 197.0m | −BRL 2.75bn | BRL 1.79bn | BRL 575.0m | −BRL 1.56bn | BRL 300.0m | −BRL 2.21bn |
| Total assets | BRL 91.59bn | BRL 89.15bn | BRL 88.64bn | BRL 84.17bn | BRL 84.13bn | BRL 83.59bn | BRL 84.03bn | BRL 80.92bn |
| Cash and short-term investments | BRL 13.97bn | BRL 15.23bn | BRL 14.10bn | BRL 12.43bn | BRL 12.22bn | BRL 13.21bn | BRL 12.97bn | BRL 13.73bn |
| Debt | BRL 7.74bn | BRL 59.83bn | BRL 60.10bn | BRL 58.39bn | BRL 59.39bn | BRL 59.95bn | BRL 58.14bn | BRL 56.13bn |
| Shareholders' equity | BRL 5.89bn | BRL 4.25bn | BRL 4.51bn | BRL 3.15bn | BRL 3.36bn | BRL 2.82bn | BRL 2.75bn | BRL 3.32bn |
Financial ratios
Data as of 14 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 17.9% | 16.2% | 14.3% | 20.3% | 27.9% | 18.1% |
| Net margin | 0.1% | -0.5% | -1.6% | 2.0% | 5.9% | 2.8% |
| Return on equity | 0.9% | -7.2% | -14.9% | 16.7% | 23.4% | 14.6% |
| Return on assets | 0.0% | -0.2% | -0.7% | 0.8% | 1.7% | 1.1% |
| Free cash flow yield | 5.6% | -30.8% | -6.0% | -93.3% | -200.9% | -29.9% |
| Revenue growth | 6.0% | 29.0% | 32.2% | 73.7% | 41.4% | 1.2% |
| Earnings growth | -119.9% | -60.0% | -202.7% | -41.4% | 197.9% | 131.3% |
| Current ratio | 1.19x | 1.29x | 1.45x | 1.55x | 3.30x | 2.08x |
| Debt to equity | 12.89x | 20.49x | 13.27x | 13.41x | 9.60x | 9.09x |
| Equity ratio | 5.1% | 3.3% | 4.7% | 4.7% | 7.3% | 7.4% |
| Interest coverage | 1.03x | 0.95x | 0.82x | 1.16x | 1.98x | 1.59x |
| Buybacks as a share of market value | 0.0% | -3.2% | 1.2% | 5.6% | -7.3% | 0.6% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 21.8% | 34.7% | 21.9% |
| Operating income | 19.1% | 36.1% | 29.4% |
| Net income | -56.6% | -32.2% | -1.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 17.6% | 17.4% | 17.9% | 17.8% |
| Net margin | -0.2% | -0.1% | 0.6% | 0.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 45.8 | -6.0 | -6.4 | 4.7 | 5.0 | 10.6 | 18.6 | 4.4 | -248.8 | -4.2 |
| Price to sales | 0.0 | 0.0 | 0.1 | 0.1 | 0.3 | 0.3 | 0.2 | 0.1 | 0.1 | 0.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 5 Jun 2026.
| FY2026 | FY2025 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.171 | 0.138 | 0.353 | 1.799 | 0.317 | 0.071 | 0.047 | 0.039 |
- 4-for-1 split · 11 Aug 2021
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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