Company Valuation: Afya Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 8,132 7,427 9,557 8,862 7,698 6,301 - -
Change - -8.67% 28.69% -7.27% -13.13% -18.15% - -
Enterprise Value (EV) 1 8,758 9,048 11,679 11,124 9,693 7,958 7,886 7,772
Change - 3.31% 29.08% -4.75% -12.87% -17.9% -0.9% -1.44%
P/E 36.9x 20x 24.9x 14.2x 10.3x 8.3x 7.3x 6.71x
PBR 2.77x 2.33x 2.67x 2.1x 1.58x 1.28x 1.19x 1.22x
PEG - 0.3x 6.84x 0.2x 0.5x 2.34x 0.5x 0.76x
Capitalization / Revenue 4.73x 3.19x 3.32x 2.68x 2.08x 1.58x 1.48x 1.4x
EV / Revenue 5.09x 3.88x 4.06x 3.37x 2.62x 1.99x 1.85x 1.73x
EV / EBITDA 11.6x 9.41x 10x 7.64x 5.77x 4.62x 4.31x 4.05x
EV / EBIT 14.6x 12x 15.2x 9.91x 7.42x 6.15x 5.7x 5.29x
EV / FCF 24.7x 16.5x 14.6x 10.7x 8.3x 7.7x 6.97x 6.5x
FCF Yield 4.04% 6.04% 6.83% 9.35% 12% 13% 14.3% 15.4%
Dividend per Share 2 - - - - 3.447 2.724 4.316 8.792
Rate of return - - - - 4.06% 3.85% 6.1% 12.4%
EPS 2 2.37 4.12 4.27 6.93 8.24 8.532 9.695 10.55
Distribution rate - - - - 41.8% 31.9% 44.5% 83.4%
Net sales 1 1,719 2,329 2,876 3,304 3,697 3,991 4,266 4,497
EBITDA 1 754.8 961.9 1,166 1,456 1,680 1,722 1,828 1,919
EBIT 1 600.6 755.7 767.1 1,122 1,307 1,295 1,385 1,469
Net income 1 223.3 373.6 386.3 631.5 752.5 777.3 884.2 961.7
Net Debt 1 626.3 1,622 2,122 2,262 1,995 1,657 1,585 1,471
Reference price 2 87.53 82.58 106.41 98.22 84.88 70.79 70.79 70.79
Nbr of stocks (in thousands) 92,902 89,937 89,812 90,230 90,698 89,011 - -
Announcement Date 31/03/22 22/03/23 14/03/24 13/03/25 12/03/26 - - -
1BRL in Million2BRL
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.3x1.99x4.62x3.85% 1.24B
11.25x0.78x3.18x2.31% 1.04B
7.64x1.07x3.49x4.51% 870M
2.62x1.04x1.95x21.7% 642M
6.9x0.96x2.92x6.37% 409M
1.85x1.31x3.47x-.--% 334M
Average 6.43x 1.19x 3.27x 6.45% 755.3M
Weighted average by Cap. 7.44x 1.26x 3.46x 6.1%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield