Cash flow Orizon Valorização de Resíduos S.A.

Stocks

ORVR3

BRORVRACNOR0

Environmental Services & Equipment

Delayed Sao Paulo Other stock markets 17:26:44 11/06/2026 BST			5-day change	1st Jan Change
76.08 ^BRL	-2.17%		-2.28%	+8.87%

05-15	Orizon Valorização de Resíduos S.A., Q1 2026 Earnings Call, May 15, 2026
05-15	Orizon Valorização de Resíduos S.A. Reports Earnings Results for the First Quarter Ended March 31, 2026	CI

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Published financial data: ORIZON VALORIZAÇÃO DE RESÍDUOS S.A.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	436M	626M	776M	903M	1.05B
Total Revenues	436M	626M	776M	903M	1.05B
Cost of Goods Sold, Total	257M	439M	529M	490M	565M
Gross Profit	179M	188M	248M	414M	485M
Selling General & Admin Expenses, Total	98.43M	109M	120M	134M	160M
Depreciation & Amortization - (IS)	-	37.13M	10.15M	30.26M	28.33M
Other Operating Expenses	1.53M	-28.33M	-63.71M	-9.07M	-5.85M
Other Operating Expenses, Total	99.96M	118M	66.76M	155M	182M
Operating Income	78.96M	69.9M	181M	258M	303M
Interest Expense, Total	-63.08M	-98.06M	-158M	-191M	-289M
Interest And Investment Income	5.73M	11.96M	28.52M	40.89M	113M
Net Interest Expenses	-57.36M	-86.1M	-129M	-150M	-176M
Income (Loss) On Equity Invest.	724K	7.72M	11.06M	14.69M	6.82M
Currency Exchange Gains (Loss)	1.07M	-6.6M	-4.51M	5.94M	-1.91M
Other Non Operating Income (Expenses)	-31.34M	-20.57M	12.9M	-26.86M	-35.36M
EBT, Excl. Unusual Items	-7.94M	-35.65M	70.92M	102M	96.87M
Merger & Related Restructuring Charges	-	-43.18M	-	-	-
Impairment of Goodwill	-	-	-	-	-
Legal Settlements	-	-	-	-	-
Other Unusual Items	-11.56M	10.3M	-	-	-
EBT, Incl. Unusual Items	-19.5M	-68.54M	70.92M	102M	96.87M
Income Tax Expense	36.01M	46.61M	20.75M	27.87M	22.91M
Earnings From Continuing Operations	-55.51M	-115M	50.17M	74.48M	73.96M
Net Income to Company	-55.51M	-115M	50.17M	74.48M	73.96M
Minority Interest	-6.52M	-5.54M	-10.05M	-13.58M	-13.82M
Net Income - (IS)	-62.03M	-121M	40.12M	60.9M	60.14M
Net Income to Common Incl Extra Items	-62.03M	-121M	40.12M	60.9M	60.14M
Net Income to Common Excl. Extra Items	-62.03M	-121M	40.12M	60.9M	60.14M
Per Share Items
Net EPS - Basic	-0.87	-1.69	0.48	0.73	0.63
Basic EPS - Continuing Operations	-0.87	-1.69	0.48	0.73	0.63
Basic Weighted Average Shares Outstanding	71.5M	71.5M	82.95M	82.95M	96.13M
Net EPS - Diluted	-0.87	-1.69	0.48	0.73	0.63
Diluted EPS - Continuing Operations	-0.87	-1.69	0.48	0.73	0.63
Diluted Weighted Average Shares Outstanding	71.5M	71.5M	82.95M	82.95M	96.13M
Normalized Basic EPS	-0.16	-0.39	0.41	0.61	0.49
Normalized Diluted EPS	-0.16	-0.39	0.41	0.61	0.49
Supplemental Items
EBITDA	121M	179M	315M	339M	413M
EBITA	84.76M	82.93M	207M	260M	304M
EBIT	78.96M	69.9M	181M	258M	303M
EBITDAR	134M	199M	332M	340M	430M
Effective Tax Rate - (Ratio)	-184.73	-68	29.26	27.23	23.65
Total Current Taxes	37.53M	38.69M	34.66M	33.7M	26.22M
Total Deferred Taxes	-1.52M	7.92M	-13.92M	-5.83M	-3.31M
Normalized Net Income	-11.48M	-27.82M	34.27M	50.39M	46.72M
Interest on Long-Term Debt	72.56M	102M	4.43M	5.27M	33.14M
Supplemental Operating Expense Items
Selling and Marketing Expenses	-	207K	-	117K	1K
General and Administrative Expenses	95.38M	20.2M	14.26M	22.74M	26.52M
Net Rental Expense, Total	13.12M	19.51M	16.86M	1.58M	17.68M
Imputed Operating Lease Interest Expense	14.47M	18.57M	18.95M	1.53M	19.47M
Imputed Operating Lease Depreciation	-1.36M	940K	-2.09M	50.47K	-1.8M
Stock-Based Comp., Other (Total)	41.79M	11.83M	-	-	-
Total Stock-Based Compensation	41.79M	11.83M	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	2.92M	169M	289M	493M	851M
Short Term Investments	398M	71.92M	33.61M	109M	71.04M
Total Cash And Short Term Investments	401M	241M	323M	602M	922M
Accounts Receivable, Total	163M	259M	184M	194M	282M
Other Receivables	4.35M	7.48M	7.71M	15.06M	11.53M
Total Receivables	168M	266M	192M	209M	293M
Restricted Cash	-	-	-	-	-
Other Current Assets, Total	34.06M	73.04M	77.72M	101M	130M
Total Current Assets	603M	580M	593M	912M	1.35B
Gross Property Plant And Equipment	800M	1.68B	1.92B	2.72B	3.31B
Accumulated Depreciation	-405M	-848M	-955M	-1.06B	-1.14B
Net Property Plant And Equipment	395M	828M	961M	1.65B	2.17B
Long-term Investments	13.46M	44.08M	98.96M	155M	117M
Goodwill	78.7M	78.7M	46.03M	46.03M	46.03M
Other Intangibles, Total	12.14M	447M	420M	405M	445M
Accounts Receivable Long-Term	14.66M	14.66M	48.57M	59.98M	37.69M
Loans Receivable Long-Term	-	153K	153K	153K	153K
Deferred Tax Assets Long-Term	69.56M	53.09M	76.29M	79.97M	82.32M
Other Long-Term Assets, Total	19.79M	27.84M	18.43M	21.46M	51.54M
Total Assets	1.21B	2.07B	2.26B	3.33B	4.29B
Liabilities
Accounts Payable, Total	57.28M	78.77M	77.93M	113M	147M
Accrued Expenses, Total	51.7M	75.01M	70.99M	91.57M	83.13M
Current Portion of Long-Term Debt	16.84M	37.62M	45.58M	141M	178M
Current Portion of Leases	9.53M	15.21M	29.06M	45.32M	49.24M
Current Income Taxes Payable	16.72M	48.67M	10.39M	7.54M	6.02M
Unearned Revenue Current, Total	12.64M	11.68M	14.82M	12.5M	15.96M
Other Current Liabilities	24.38M	55.93M	9.67M	12.66M	89.87M
Total Current Liabilities	189M	323M	258M	423M	569M
Long-Term Debt	539M	978M	1.08B	1.73B	1.94B
Long-Term Leases	11.43M	40.8M	23.33M	62.38M	54.83M
Deferred Tax Liability Non Current	-	-	-	-	-
Other Non Current Liabilities	96.7M	151M	156M	249M	174M
Total Liabilities	837M	1.49B	1.52B	2.46B	2.74B
Common Stock, Total	844M	844M	1.09B	1.09B	1.19B
Retained Earnings	-740M	-861M	-849M	-788M	-728M
Comprehensive Income and Other	251M	567M	464M	475M	979M
Total Common Equity	356M	550M	706M	778M	1.44B
Minority Interest	13.76M	30.98M	38.59M	95.72M	110M
Total Equity	369M	581M	745M	874M	1.55B
Total Liabilities And Equity	1.21B	2.07B	2.26B	3.33B	4.29B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	71.5M	80.27M	82.95M	82.95M	96.13M
ECS Total Common Shares Outstanding	71.5M	71.5M	82.95M	82.95M	96.13M
Book Value / Share	4.97	7.7	8.51	9.38	15
Tangible Book Value	265M	24.97M	240M	327M	951M
Tangible Book Value Per Share	3.7	0.35	2.89	3.95	9.89
Total Debt	577M	1.07B	1.18B	1.97B	2.23B
Net Debt	176M	830M	855M	1.37B	1.3B
Debt Equivalent Oper. Leases	105M	156M	135M	12.62M	141M
Minority Interest, Total (Incl. Fin. Div)	13.76M	30.98M	38.59M	95.72M	110M
Equity Method Investments, Total	4.42M	44.08M	98.96M	113M	117M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	20.43M	36.57M	34.26M	38.15M	37.04M
Buildings, Total	4.58M	4.47M	3.9M	579K	579K
Machinery, Total	60.27M	115M	122M	217M	203M
Full Time Employees	-	-	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-62.03M	-121M	40.12M	60.9M	60.14M
Depreciation & Amortization - CF	47.59M	123M	140M	130M	155M
Amortization of Goodwill and Intangible Assets - (CF)	5.8M	13.04M	26.1M	1.1M	1.27M
Depreciation & Amortization, Total	53.4M	136M	166M	131M	156M
Amortization of Deferred Charges, Total - (CF)	20.06M	918K	-	-	23.62M
(Gain) Loss From Sale Of Asset	-	-28.33M	-	-	-
Asset Writedown & Restructuring Costs	4.47M	-	70.7M	26.74M	24.13M
(Income) Loss On Equity Investments - (CF)	-724K	-7.72M	-11.06M	-14.69M	-6.82M
Stock-Based Compensation (CF)	41.79M	11.83M	-	-	-
Provision and Write-off of Bad Debts	4.12M	5.17M	-7.03M	9.78M	-21.49M
Other Operating Activities, Total	49.07M	24.33M	-185M	15.3M	52.31M
Change In Accounts Receivable	-59.2M	-54.75M	43.33M	-12.58M	-48.63M
Change In Accounts Payable	-26.31M	-2.9M	-16.21M	11.93M	21.93M
Change in Unearned Revenues	5.23M	-965K	3.14M	-2.32M	3.46M
Change In Income Taxes	8.22M	56.47M	13.62M	-7.89M	-4.08M
Change in Other Net Operating Assets	-131M	-6.41M	-81.78M	-34.33M	-17.85M
Cash from Operations	-93.17M	12.67M	35.48M	184M	243M
Capital Expenditure	-123M	-197M	-255M	-556M	-631M
Cash Acquisitions	-	-407M	-11.85M	-172M	-30.18M
Divestitures	-	40M	135M	-	-
Sale (Purchase) of Intangible assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-393M	314M	67.92M	-105M	82.15M
Other Investing Activities, Total	-	-	-11.77M	577K	-
Cash from Investing	-516M	-250M	-76.04M	-832M	-579M
Long-Term Debt Issued, Total	515M	460M	130M	1.2B	951M
Total Debt Issued	515M	460M	130M	1.2B	951M
Long-Term Debt Repaid, Total	-249M	-47.18M	-69.7M	-521M	-839M
Total Debt Repaid	-249M	-47.18M	-69.7M	-521M	-839M
Issuance of Common Stock	360M	-	87.49M	-	604M
Other Financing Activities, Total	-19.63M	-9.29M	13.32M	21.13M	-21.19M
Cash from Financing	606M	404M	161M	696M	694M
Net Change in Cash	-3.13M	166M	121M	47.27M	358M
Supplemental Items
Cash Interest Paid	98.46M	77.8M	137M	158M	212M
Cash Income Tax Paid (Refund)	8.27M	21.21M	32.9M	25.28M	27.56M
Levered Free Cash Flow	-47.49M	-96.79M	-91.79M	-370M	-451M
Unlevered Free Cash Flow	-28.12M	-36.42M	6.95M	-251M	-293M
Change In Net Working Capital	49.82M	30.3M	16.45M	-12.7M	8.02M
Net Debt Issued / Repaid	266M	413M	60.3M	675M	111M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	5.26	2.66	5.22	5.77	4.97
Return on Total Capital	7.22	3.36	6.33	6.77	5.72
Return On Equity %	-24.55	-24.22	7.57	9.2	6.1
Return on Common Equity	-29.32	-26.64	6.39	8.21	5.42
Margin Analysis
Gross Profit Margin %	41.08	29.97	31.91	45.77	46.19
SG&A Margin	22.6	17.41	15.5	14.82	15.19
EBITDA Margin %	27.68	28.65	40.61	37.49	39.3
EBITA Margin %	19.46	13.24	26.67	28.73	28.98
EBIT Margin %	18.13	11.16	23.31	28.6	28.86
Income From Continuing Operations Margin %	-12.75	-18.39	6.46	8.24	7.04
Net Income Margin %	-14.24	-19.27	5.17	6.74	5.73
Net Avail. For Common Margin %	-14.24	-19.27	5.17	6.74	5.73
Normalized Net Income Margin	-2.64	-4.44	4.41	5.58	4.45
Levered Free Cash Flow Margin	-10.9	-15.46	-11.82	-40.95	-42.9
Unlevered Free Cash Flow Margin	-6.46	-5.82	0.9	-27.75	-27.93
Asset Turnover
Asset Turnover	0.46	0.38	0.36	0.32	0.28
Fixed Assets Turnover	1.26	1.02	0.87	0.69	0.55
Receivables Turnover (Average Receivables)	3.16	2.97	3.5	4.77	4.41
Short Term Liquidity
Current Ratio	3.19	1.8	2.29	2.15	2.36
Quick Ratio	3.01	1.57	1.99	1.92	2.13
Operating Cash Flow to Current Liabilities	-0.49	0.04	0.14	0.43	0.43
Days Sales Outstanding (Average Receivables)	115.45	123.06	104.16	76.66	82.7
Average Days Payable Outstanding	78.75	56.62	54.1	71.15	83.74
Long Term Solvency
Total Debt/Equity	156.26	184.22	158.18	226.01	143.49
Total Debt / Total Capital	60.98	64.82	61.27	69.33	58.93
LT Debt/Equity	149.12	175.13	148.15	204.69	128.82
Long-Term Debt / Total Capital	58.19	61.62	57.38	62.79	52.9
Total Liabilities / Total Assets	69.37	71.95	67.09	73.79	63.86
EBIT / Interest Expense	1.25	0.71	1.15	1.35	1.05
EBITDA / Interest Expense	2.1	2.1	2.19	2.04	1.59
(EBITDA - Capex) / Interest Expense	0.15	0.08	0.58	-0.87	-0.59
Total Debt / EBITDA	4.36	5.21	3.4	5.07	4.85
Net Debt / EBITDA	1.33	4.04	2.47	3.53	2.84
Total Debt / (EBITDA - Capex)	60.66	129.57	12.91	-11.86	-12.97
Net Debt / (EBITDA - Capex)	18.48	100.44	9.37	-8.25	-7.6
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	11.11	43.79	23.96	16.39	16.26
Gross Profit, 1 Yr. Growth %	21.88	4.98	31.95	66.97	17.32
EBITDA, 1 Yr. Growth %	-16.91	44.65	95.78	16.67	21.85
EBITA, 1 Yr. Growth %	-21.64	-6.03	218.91	42.52	17.29
EBIT, 1 Yr. Growth %	-23.12	-15.23	248.74	42.84	17.3
Earnings From Cont. Operations, 1 Yr. Growth %	-335.11	107.45	-134.97	48.46	-0.69
Net Income, 1 Yr. Growth %	-409.14	94.58	-126.92	51.81	-1.24
Normalized Net Income, 1 Yr. Growth %	-143.99	179.85	-187.68	47.03	-7.27
Diluted EPS Before Extra, 1 Yr. Growth %	-334.18	94.58	-123.03	52.08	-14.29
Accounts Receivable, 1 Yr. Growth %	45.67	58.48	-28.86	5.49	44.99
Net Property, Plant and Equip., 1 Yr. Growth %	33.58	109.77	16.15	72.12	31.04
Total Assets, 1 Yr. Growth %	79.78	71.91	9.12	47.38	28.78
Tangible Book Value, 1 Yr. Growth %	-1.01K	-90.57	861.73	36.29	190.6
Common Equity, 1 Yr. Growth %	427.5	54.79	28.25	10.22	85.32
Cash From Operations, 1 Yr. Growth %	-208.28	-113.6	180.07	418.5	32.03
Capital Expenditures, 1 Yr. Growth %	209.79	60.66	29.38	117.78	13.47
Levered Free Cash Flow, 1 Yr. Growth %	66.56	113.63	-15.35	216.97	21.79
Unlevered Free Cash Flow, 1 Yr. Growth %	1.54K	40.41	-114.46	1.29K	17.01
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	11.85	26.4	33.51	20.11	16.32
Gross Profit, 2 Yr. CAGR %	30.16	13.08	17.66	48.36	39.96
EBITDA, 2 Yr. CAGR %	10.02	8.39	54.34	35.27	9.49
EBITA, 2 Yr. CAGR %	19.9	-10.14	61.92	128.32	30.53
EBIT, 2 Yr. CAGR %	20.61	-17.5	51.37	127.84	30.26
Earnings From Cont. Operations, 2 Yr. CAGR %	82.97	120.84	-4.93	-27.95	21.42
Net Income, 2 Yr. CAGR %	78.41	145.26	-19.58	-36.07	22.44
Normalized Net Income, 2 Yr. CAGR %	-43.81	3.26	35.36	-12.67	16.76
Diluted EPS Before Extra, 2 Yr. CAGR %	51	113.46	-25.72	-40.76	14.17
Accounts Receivable, 2 Yr. CAGR %	42.16	51.94	6.18	-13.37	23.67
Net Property, Plant and Equip., 2 Yr. CAGR %	17.93	67.4	56.09	41.39	50.18
Total Assets, 2 Yr. CAGR %	35.89	75.8	36.96	26.81	37.77
Tangible Book Value, 2 Yr. CAGR %	11.6	-7.13	-4.77	262.05	99.02
Common Equity, 2 Yr. CAGR %	79.66	185.74	40.89	18.89	42.92
Cash From Operations, 2 Yr. CAGR %	25.5	-61.63	-38.29	281.07	161.65
Capital Expenditures, 2 Yr. CAGR %	81.36	117.21	44.17	67.86	57.2
Levered Free Cash Flow, 2 Yr. CAGR %	-23.77	34.92	237.35	176.34	802.1
Unlevered Free Cash Flow, 2 Yr. CAGR %	-48.11	360.77	-50.29	125.37	627.95
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	13.74	21.61	25.58	27.54	18.81
Gross Profit, 3 Yr. CAGR %	24.19	21.13	19.05	32.22	37.19
EBITDA, 3 Yr. CAGR %	15.3	21.68	27.33	36.79	30.64
EBITA, 3 Yr. CAGR %	25.24	12.04	26.32	48.68	82.86
EBIT, 3 Yr. CAGR %	22.32	8.8	20.77	48.47	82.61
Earnings From Cont. Operations, 3 Yr. CAGR %	-5.92	90.79	28.56	10.29	-19.82
Net Income, 3 Yr. CAGR %	-1.18	83.64	25.98	-0.61	-26.1
Normalized Net Income, 3 Yr. CAGR %	-42.8	-8.53	9.51	39.15	-10.91
Diluted EPS Before Extra, 3 Yr. CAGR %	-10.37	64.32	9.06	-5.68	-33
Accounts Receivable, 3 Yr. CAGR %	29.75	47.4	17.98	5.95	2.85
Net Property, Plant and Equip., 3 Yr. CAGR %	12.71	42.89	48.2	61.26	37.86
Total Assets, 3 Yr. CAGR %	19.69	46.97	49.96	40.35	27.47
Tangible Book Value, 3 Yr. CAGR %	-0.09	-51.03	102.42	7.32	236.47
Common Equity, 3 Yr. CAGR %	57.69	70.95	118.78	29.82	37.85
Cash From Operations, 3 Yr. CAGR %	10.98	-40.17	-25.57	25.45	167.65
Capital Expenditures, 3 Yr. CAGR %	45.95	74.18	82.76	65.42	47.32
Levered Free Cash Flow, 3 Yr. CAGR %	585.21	5.8	19.96	257.96	110.3
Unlevered Free Cash Flow, 3 Yr. CAGR %	-5.35	-29.62	59.42	107.36	81.14
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	22.01	21.27	21.01	21.79
Gross Profit, 5 Yr. CAGR %	-	26.15	21.54	31.39	27.01
EBITDA, 5 Yr. CAGR %	-	29.75	32.01	27.74	22
EBITA, 5 Yr. CAGR %	-	100.89	36.84	34.5	24.27
EBIT, 5 Yr. CAGR %	-	94.13	33.2	36.63	24.17
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-4.19	-5.53	35.05	25.66
Net Income, 5 Yr. CAGR %	-	-3.49	-9	25.59	24.55
Normalized Net Income, 5 Yr. CAGR %	-	-20.35	-10.99	6.75	12.36
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-9.72	-16.81	13.92	11.08
Accounts Receivable, 5 Yr. CAGR %	-	27.84	19.75	19.17	20.23
Net Property, Plant and Equip., 5 Yr. CAGR %	-	25.34	28.39	42.29	48.99
Total Assets, 5 Yr. CAGR %	-	23.76	26.32	38.55	44.96
Tangible Book Value, 5 Yr. CAGR %	-	-40.48	-1.99	9.01	101.05
Common Equity, 5 Yr. CAGR %	-	28.86	50.75	47.84	84.52
Cash From Operations, 5 Yr. CAGR %	-	-23.01	-12.24	25.47	23.06
Capital Expenditures, 5 Yr. CAGR %	-	19.12	45.24	71.62	72.07
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	262.01	35.25	53.32
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-26.84	19.14	179.65