Financials B3 S.A. - Brasil, Bolsa, Balcão

Equities

B3SA3

BRB3SAACNOR6

Financial & Commodity Market Operators

Market Closed - Sao Paulo 21:07:37 26/04/2024 BST 5-day change 1st Jan Change
11.22 BRL +3.60% Intraday chart for B3 S.A. - Brasil, Bolsa, Balcão +0.36% -22.89%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 87,909 126,543 67,651 77,196 79,758 62,971 - -
Enterprise Value (EV) 1 83,148 118,160 62,716 77,196 79,758 59,396 58,869 58,340
P/E ratio 32.5 x 30.6 x 14.4 x 17.7 x 20.1 x 13.4 x 11.6 x 10.5 x
Yield 2.7% 2.65% 5.8% - - 7.76% 8.76% 9.5%
Capitalization / Revenue 14.9 x 15.1 x 7.32 x 8.49 x 8.93 x 6.6 x 5.97 x 5.53 x
EV / Revenue 14.1 x 14.1 x 6.78 x 8.49 x 8.93 x 6.22 x 5.58 x 5.12 x
EV / EBITDA 19.5 x 18.5 x 8.62 x 11.5 x 12.6 x 8.71 x 7.7 x 6.95 x
EV / FCF 28.3 x 46.7 x 20.7 x - - 14.1 x 11.3 x 10.3 x
FCF Yield 3.54% 2.14% 4.82% - - 7.11% 8.88% 9.73%
Price to Book 3.46 x 5.14 x 3.05 x - - 3.14 x 3.13 x 3.17 x
Nbr of stocks (in thousands) 6,137,449 6,125,009 6,072,842 5,843,738 5,481,658 5,612,359 - -
Reference price 2 14.32 20.66 11.14 13.21 14.55 11.22 11.22 11.22
Announcement Date 05/03/20 04/03/21 17/03/22 15/02/23 22/02/24 - - -
1BRL in Million2BRL
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 5,908 8,383 9,248 9,092 8,930 9,544 10,544 11,396
EBITDA 1 4,259 6,383 7,274 6,700 6,334 6,819 7,643 8,396
EBIT 1 3,229 5,680 6,243 5,644 5,244 6,254 7,243 8,120
Operating Margin 54.66% 67.77% 67.5% 62.08% 58.73% 65.53% 68.7% 71.25%
Earnings before Tax (EBT) 1 3,339 5,516 6,516 5,790 5,558 6,434 7,418 8,145
Net income 1 2,714 4,152 4,717 4,227 4,132 4,689 5,292 5,829
Net margin 45.94% 49.53% 51.01% 46.49% 46.27% 49.13% 50.19% 51.15%
EPS 2 0.4406 0.6757 0.7738 0.7480 0.7222 0.8348 0.9636 1.068
Free Cash Flow 1 2,941 2,531 3,026 - - 4,222 5,228 5,676
FCF margin 49.78% 30.19% 32.72% - - 44.24% 49.58% 49.81%
FCF Conversion (EBITDA) 69.05% 39.65% 41.6% - - 61.92% 68.41% 67.6%
FCF Conversion (Net income) 108.35% 60.95% 64.15% - - 90.04% 98.78% 97.38%
Dividend per Share 2 0.3860 0.5481 0.6466 - - 0.8702 0.9831 1.066
Announcement Date 05/03/20 04/03/21 17/03/22 15/02/23 22/02/24 - - -
1BRL in Million2BRL
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 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
Net sales 1 2,255 2,179 2,285 2,242 2,258 2,308 2,209 2,230 2,248 2,242 2,227 2,329 2,471 2,516 -
EBITDA 1 1,820 1,654 1,723 1,665 1,670 1,637 1,622 1,640 1,628 1,449 1,590 1,646 1,763 1,757 -
EBIT 1 1,548 1,430 1,447 1,399 1,414 1,384 1,362 1,371 1,346 1,169 1,299 1,547 1,678 1,673 -
Operating Margin 68.65% 65.62% 63.33% 62.42% 62.62% 59.97% 61.67% 61.49% 59.87% 52.15% 58.33% 66.43% 67.92% 66.49% -
Earnings before Tax (EBT) 1 1,570 1,452 1,660 1,384 1,366 1,380 1,499 1,477 1,386 1,196 1,339 1,552 1,677 1,678 -
Net income 1 1,176 1,092 1,101 1,092 1,029 1,004 1,089 1,053 1,074 915.5 998.4 1,171 1,264 1,253 -
Net margin 52.16% 50.09% 48.19% 48.72% 45.58% 43.53% 49.31% 47.21% 47.78% 40.83% 44.84% 50.29% 51.14% 49.82% -
EPS 2 0.1919 0.1800 0.1820 0.1808 0.1695 0.2061 0.1884 0.1824 0.1857 0.1608 0.1787 0.2092 0.2247 0.2218 0.2300
Dividend per Share 2 0.1946 0.1992 0.1814 0.1300 0.0800 - - - - - 0.1801 - - - -
Announcement Date 11/11/21 17/03/22 12/05/22 11/08/22 10/11/22 15/02/23 11/05/23 10/08/23 09/11/23 22/02/24 - - - - -
1BRL in Million2BRL
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 4,761 8,383 4,935 - - 3,575 4,101 4,630
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 2,941 2,531 3,026 - - 4,222 5,228 5,676
ROE (net income / shareholders' equity) 12.8% 17.9% 20.1% - - 23.7% 26.8% 29.7%
ROA (Net income/ Total Assets) 8.33% 10.4% 9.54% - - 9.81% 10.7% 11.3%
Assets 1 32,573 40,099 49,433 - - 47,788 49,406 51,762
Book Value Per Share 2 4.140 4.020 3.660 - - 3.570 3.590 3.540
Cash Flow per Share 2 0.5200 0.4500 0.5300 - - 1.350 1.490 1.590
Capex 1 279 222 188 - - 245 272 264
Capex / Sales 4.72% 2.65% 2.03% - - 2.57% 2.58% 2.32%
Announcement Date 05/03/20 04/03/21 17/03/22 15/02/23 22/02/24 - - -
1BRL in Million2BRL
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
11.22 BRL
Average target price
15.18 BRL
Spread / Average Target
+35.26%
Consensus
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  4. Financials B3 S.A. - Brasil, Bolsa, Balcão