Delayed
Sao Paulo
09:21:03 21/05/2024 pm IST
|
5-day change
|
1st Jan Change
|
84.32
BRL
|
-1.45%
|
|
-3.61%
|
-0.11%
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Capitalization
1 |
56,270
|
69,403
|
83,396
|
65,133
|
68,512
|
65,314
|
-
|
-
|
Enterprise Value (EV)
1 |
70,554
|
82,977
|
97,446
|
81,710
|
85,609
|
82,311
|
81,756
|
80,113
|
P/E ratio
|
17.4
x
|
25.2
x
|
22.4
x
|
15.9
x
|
18.7
x
|
17.2
x
|
15.3
x
|
14.2
x
|
Yield
|
1.33%
|
1.15%
|
0.99%
|
1.29%
|
-
|
1.39%
|
1.51%
|
1.6%
|
Capitalization / Revenue
|
4.71
x
|
6.56
x
|
6.66
x
|
4.39
x
|
4.67
x
|
4.36
x
|
4.18
x
|
4.05
x
|
EV / Revenue
|
5.91
x
|
7.84
x
|
7.78
x
|
5.5
x
|
5.84
x
|
5.49
x
|
5.23
x
|
4.96
x
|
EV / EBITDA
|
11.2
x
|
14.4
x
|
13.9
x
|
11.1
x
|
11.9
x
|
11.2
x
|
10.4
x
|
9.81
x
|
EV / FCF
|
22.1
x
|
31.5
x
|
29.5
x
|
23.4
x
|
26.2
x
|
28.5
x
|
23.4
x
|
22
x
|
FCF Yield
|
4.53%
|
3.18%
|
3.39%
|
4.27%
|
3.82%
|
3.5%
|
4.27%
|
4.54%
|
Price to Book
|
4.87
x
|
5.32
x
|
6.28
x
|
5.26
x
|
5.75
x
|
5.12
x
|
4.81
x
|
4.58
x
|
Nbr of stocks (in thousands)
|
23,32,933
|
22,94,325
|
22,17,983
|
21,02,409
|
19,76,131
|
19,54,927
|
-
|
-
|
Reference price
2 |
24.12
|
30.25
|
37.60
|
30.98
|
34.67
|
33.41
|
33.41
|
33.41
|
Announcement Date
|
16/01/20
|
21/01/21
|
20/01/22
|
25/01/23
|
24/01/24
|
-
|
-
|
-
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net sales
1 |
11,937
|
10,583
|
12,522
|
14,853
|
14,657
|
14,996
|
15,631
|
16,138
|
EBITDA
1 |
6,314
|
5,745
|
7,014
|
7,379
|
7,172
|
7,375
|
7,834
|
8,169
|
EBIT
1 |
4,965
|
4,362
|
5,594
|
5,879
|
5,561
|
5,671
|
6,083
|
6,345
|
Operating Margin
|
41.59%
|
41.22%
|
44.67%
|
39.58%
|
37.94%
|
37.82%
|
38.92%
|
39.32%
|
Earnings before Tax (EBT)
1 |
4,316
|
3,627
|
4,951
|
5,414
|
4,891
|
4,998
|
5,425
|
5,758
|
Net income
1 |
3,330
|
2,765
|
3,781
|
4,166
|
3,715
|
3,764
|
4,055
|
4,227
|
Net margin
|
27.9%
|
26.13%
|
30.19%
|
28.05%
|
25.35%
|
25.1%
|
25.94%
|
26.19%
|
EPS
2 |
1.390
|
1.200
|
1.680
|
1.950
|
1.850
|
1.944
|
2.179
|
2.356
|
Free Cash Flow
1 |
3,193
|
2,637
|
3,308
|
3,486
|
3,268
|
2,884
|
3,493
|
3,638
|
FCF margin
|
26.75%
|
24.92%
|
26.42%
|
23.47%
|
22.3%
|
19.23%
|
22.35%
|
22.54%
|
FCF Conversion (EBITDA)
|
50.57%
|
45.9%
|
47.16%
|
47.24%
|
45.57%
|
39.11%
|
44.58%
|
44.54%
|
FCF Conversion (Net income)
|
95.89%
|
95.37%
|
87.49%
|
83.68%
|
87.97%
|
76.63%
|
86.14%
|
86.06%
|
Dividend per Share
2 |
0.3200
|
0.3467
|
0.3720
|
0.4000
|
-
|
0.4646
|
0.5035
|
0.5346
|
Announcement Date
|
16/01/20
|
21/01/21
|
20/01/22
|
25/01/23
|
24/01/24
|
-
|
-
|
-
|
Fiscal Period: December |
2021 Q4
|
2022 Q1
|
2022 Q2
|
2022 Q3
|
2022 Q4
|
2023 Q1
|
2023 Q2
|
2023 Q3
|
2023 Q4
|
2024 Q1
|
2024 Q2
|
2024 Q3
|
2024 Q4
|
2025 Q1
|
2025 Q2
|
---|
Net sales
1 |
3,427
|
3,413
|
3,815
|
3,895
|
3,730
|
3,706
|
3,699
|
3,572
|
3,680
|
3,681
|
3,710
|
3,762
|
3,844
|
3,828
|
3,936
|
EBITDA
1 |
1,726
|
1,642
|
1,968
|
1,957
|
1,850
|
1,857
|
1,884
|
1,694
|
1,737
|
1,764
|
1,839
|
1,858
|
1,899
|
1,851
|
1,988
|
EBIT
1 |
1,370
|
1,282
|
1,599
|
1,579
|
1,457
|
1,464
|
1,482
|
1,295
|
1,320
|
1,354
|
1,411
|
1,432
|
1,468
|
1,433
|
1,554
|
Operating Margin
|
39.98%
|
37.56%
|
41.91%
|
40.54%
|
39.06%
|
39.5%
|
40.06%
|
36.25%
|
35.87%
|
36.78%
|
38.04%
|
38.06%
|
38.19%
|
37.45%
|
39.49%
|
Earnings before Tax (EBT)
1 |
1,205
|
1,129
|
1,558
|
1,423
|
1,304
|
1,304
|
1,312
|
1,126
|
1,149
|
1,185
|
1,245
|
1,260
|
1,300
|
1,262
|
1,390
|
Net income
1 |
934
|
859
|
1,178
|
1,110
|
1,018
|
987
|
996
|
846
|
886
|
893
|
935.9
|
951.5
|
977.9
|
957.4
|
1,057
|
Net margin
|
27.25%
|
25.17%
|
30.88%
|
28.5%
|
27.29%
|
26.63%
|
26.93%
|
23.68%
|
24.08%
|
24.26%
|
25.23%
|
25.29%
|
25.44%
|
25.01%
|
26.84%
|
EPS
2 |
0.4200
|
0.3900
|
0.5400
|
0.5200
|
0.4900
|
0.4800
|
0.4900
|
0.4200
|
0.4500
|
0.4600
|
0.4815
|
0.4946
|
0.5128
|
0.5062
|
0.5543
|
Dividend per Share
2 |
0.0930
|
0.1000
|
0.1000
|
0.1000
|
0.1000
|
0.1100
|
0.1100
|
0.1100
|
-
|
-
|
0.1194
|
0.1194
|
0.1194
|
0.1257
|
0.1257
|
Announcement Date
|
20/01/22
|
20/04/22
|
20/07/22
|
20/10/22
|
25/01/23
|
20/04/23
|
20/07/23
|
19/10/23
|
24/01/24
|
17/04/24
|
-
|
-
|
-
|
-
|
-
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net Debt
1 |
14,284
|
13,574
|
14,050
|
16,577
|
17,097
|
16,997
|
16,442
|
14,799
|
Net Cash position
1 |
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Leverage (Debt/EBITDA)
|
2.262
x
|
2.363
x
|
2.003
x
|
2.247
x
|
2.384
x
|
2.305
x
|
2.099
x
|
1.812
x
|
Free Cash Flow
1 |
3,193
|
2,637
|
3,308
|
3,486
|
3,268
|
2,884
|
3,493
|
3,638
|
ROE (net income / shareholders' equity)
|
27.3%
|
22.1%
|
28.4%
|
31.9%
|
30%
|
30%
|
31.3%
|
30.7%
|
ROA (Net income/ Total Assets)
|
8.88%
|
7.09%
|
9.41%
|
10.1%
|
8.81%
|
8.84%
|
9.5%
|
9.9%
|
Assets
1 |
37,482
|
39,025
|
40,164
|
41,221
|
42,160
|
42,603
|
42,677
|
42,698
|
Book Value Per Share
2 |
4.960
|
5.690
|
5.990
|
5.890
|
6.030
|
6.520
|
6.940
|
7.290
|
Cash Flow per Share
2 |
2.030
|
1.850
|
2.260
|
2.620
|
2.760
|
2.890
|
3.210
|
-
|
Capex
1 |
1,657
|
1,626
|
1,791
|
2,133
|
2,281
|
2,436
|
2,395
|
2,410
|
Capex / Sales
|
13.88%
|
15.36%
|
14.3%
|
14.36%
|
15.56%
|
16.25%
|
15.32%
|
14.93%
|
Announcement Date
|
16/01/20
|
21/01/21
|
20/01/22
|
25/01/23
|
24/01/24
|
-
|
-
|
-
|
Last Close Price
33.41
USD Average target price
39.42
USD Spread / Average Target +18.00% Consensus |
1st Jan change
|
Capi.
|
---|
| -3.88% | 15TCr | | -4.37% | 5.2TCr | | -1.66% | 1.72TCr | | +4.55% | 1.03TCr | | +27.24% | 805.26Cr | | 0.00% | 224.14Cr | | +17.96% | 187.78Cr | | +8.26% | 117.48Cr | | -4.76% | 95Cr |
Railway Freight Operators
|