Financials Grendene S.A.

Equities

GRND3

BRGRNDACNOR3

Footwear

End-of-day quote Sao Paulo 23:00:00 27/06/2024 BST 5-day change 1st Jan Change
5.76 BRL -1.20% Intraday chart for Grendene S.A. -2.70% -18.53%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 11,077 7,555 7,804 5,437 6,378 5,196 - -
Enterprise Value (EV) 1 13,111 7,555 7,804 4,407 5,611 4,264 4,321 4,379
P/E ratio 22.4 x 18.7 x - - 11.4 x 8.47 x 7.68 x -
Yield 2.49% - - - 4.44% 8.68% 9.9% -
Capitalization / Revenue 5.35 x 3.98 x 3.33 x 2.16 x 2.62 x 2.06 x 1.79 x 1.63 x
EV / Revenue 6.33 x 3.98 x 3.33 x 1.75 x 2.31 x 1.69 x 1.49 x 1.37 x
EV / EBITDA 30.4 x - 16.1 x 11.6 x 11.7 x 8.69 x 7.78 x 7 x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 3.01 x - - - - - - -
Nbr of stocks (in thousands) 902,030 901,503 902,160 901,692 902,157 902,160 - -
Reference price 2 12.28 8.380 8.650 6.030 7.070 5.760 5.760 5.760
Announcement Date 13/02/20 04/03/21 24/02/22 02/03/23 29/02/24 - - -
1BRL in Million2BRL
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,071 1,897 2,343 2,513 2,434 2,521 2,900 3,186
EBITDA 1 430.8 - 484.5 378.6 479 491 555.4 626
EBIT 1 353.5 - - - 383.3 412 484 571
Operating Margin 17.07% - - - 15.75% 16.34% 16.69% 17.92%
Earnings before Tax (EBT) 1 531.6 - - - 592 679 751 837
Net income 1 495 - - - 557.7 610 675 752
Net margin 23.9% - - - 22.92% 24.2% 23.28% 23.61%
EPS 2 0.5480 0.4491 - - 0.6183 0.6800 0.7500 -
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.3057 - - - 0.3137 0.5000 0.5700 -
Announcement Date 13/02/20 04/03/21 24/02/22 02/03/23 29/02/24 - - -
1BRL in Million2BRL
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1
Net sales 1 789.9 517.9 496.5 520.1 - 689.1 760.8 662.4
EBITDA 1 195.1 67.7 35.8 63 - 146 256.5 119.8
EBIT - - - - - - 230.5 -
Operating Margin - - - - - - 30.3% -
Earnings before Tax (EBT) - - - - - - - -
Net income 230.6 125.5 65.71 - 57.25 - - -
Net margin 29.2% 24.23% 13.24% - - - - -
EPS - - - - 0.0637 - - -
Dividend per Share - - - - - - - -
Announcement Date 24/02/22 28/04/22 04/08/22 11/05/23 10/08/23 09/11/23 29/02/24 09/05/24
1BRL in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,034 - - - - - - -
Net Cash position 1 - - - 1,030 767 932 875 817
Leverage (Debt/EBITDA) 4.721 x - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 13.8% - - 13.4% 13.9% 16.1% 17.2% 18.3%
ROA (Net income/ Total Assets) - - - - - - - -
Assets 1 - - - - - - - -
Book Value Per Share 4.080 - - - - - - -
Cash Flow per Share - - - - - - - -
Capex 1 52.4 - 106 - 123 105 110 110
Capex / Sales 2.53% - 4.51% - 5.05% 4.17% 3.79% 3.45%
Announcement Date 13/02/20 04/03/21 24/02/22 02/03/23 29/02/24 - - -
1BRL in Million
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
C-
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
2
Last Close Price
5.76 BRL
Average target price
7.25 BRL
Spread / Average Target
+25.87%
Consensus

Quarterly revenue - Rate of surprise

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