Financials Vulcabras S.A.

Equities

VULC3

BRVULCACNOR2

Footwear

Market Closed - Sao Paulo 04:06:00 2024-05-22 pm EDT 5-day change 1st Jan Change
15.18 BRL -3.00% Intraday chart for Vulcabras S.A. -3.56% -24.63%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,261 1,964 2,246 3,067 4,937 4,158 - -
Enterprise Value (EV) 1 2,275 1,964 2,454 3,067 5,001 3,676 3,404 3,053
P/E ratio 15.9 x - 7.25 x 6.55 x 10 x 7.46 x 5.5 x 4.52 x
Yield - - - - 7.94% 7.67% 4.55% 5.53%
Capitalization / Revenue 1.66 x 1.67 x 1.2 x 1.21 x 1.75 x 1.38 x 1.25 x 1.15 x
EV / Revenue 1.67 x 1.67 x 1.31 x 1.21 x 1.77 x 1.22 x 1.03 x 0.84 x
EV / EBITDA 11.1 x 17.5 x 6.15 x 5.83 x 7.8 x 5.4 x 4.58 x 3.7 x
EV / FCF - - -76.7 x - 13 x 9.62 x 8.73 x 6.5 x
FCF Yield - - -1.3% - 7.72% 10.4% 11.5% 15.4%
Price to Book - - 1.66 x - 2.48 x 0.17 x - -
Nbr of stocks (in thousands) 245,756 245,756 245,756 245,756 245,150 273,890 - -
Reference price 2 9.200 7.990 9.140 12.48 20.14 15.18 15.18 15.18
Announcement Date 3/3/20 3/9/21 3/8/22 3/1/23 3/7/24 - - -
1BRL in Million2BRL
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,360 1,179 1,867 2,537 2,818 3,020 3,320 3,628
EBITDA 1 205.5 112.2 398.9 525.8 641.3 680.8 743.8 825.5
EBIT 1 - - 325.7 443.6 542.5 571.7 647 732.3
Operating Margin - - 17.44% 17.48% 19.25% 18.93% 19.49% 20.18%
Earnings before Tax (EBT) 1 - - 338.1 484.9 537.7 557 646.5 751.5
Net income 1 143.1 - 313.8 469.9 494.9 523 608.7 701.7
Net margin 10.52% - 16.81% 18.52% 17.56% 17.32% 18.33% 19.34%
EPS 2 0.5788 - 1.261 1.906 2.005 2.035 2.760 3.360
Free Cash Flow 1 - - -31.99 - 386.1 382 390 470
FCF margin - - -1.71% - 13.7% 12.65% 11.75% 12.95%
FCF Conversion (EBITDA) - - - - 60.21% 56.11% 52.44% 56.94%
FCF Conversion (Net income) - - - - 78.02% 73.04% 64.07% 66.98%
Dividend per Share 2 - - - - 1.600 1.165 0.6900 0.8400
Announcement Date 3/3/20 3/9/21 3/8/22 3/1/23 3/7/24 - - -
1BRL in Million2BRL
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1
Net sales 1 620 477.8 656.8 663.5 738.8 571.1 723.9 731.4 791.3 597.3
EBITDA 1 119.8 83.6 124.6 132.2 176.6 116.9 168.7 177.1 177.7 122.4
EBIT - - - - - - - - - -
Operating Margin - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - -
Net income - 53.98 103.7 97.89 - - - 127.6 144.7 -
Net margin - 11.3% 15.8% 14.75% - - - 17.45% 18.29% -
EPS - - - - - - - - - -
Dividend per Share - - - - - - - - - -
Announcement Date 3/8/22 5/3/22 7/28/22 11/1/22 3/1/23 5/2/23 8/1/23 10/31/23 3/7/24 5/7/24
1BRL in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 13.7 - 208 - 63.3 - - -
Net Cash position 1 - - - - - 482 754 1,105
Leverage (Debt/EBITDA) 0.0665 x - 0.5203 x - 0.0987 x - - -
Free Cash Flow 1 - - -32 - 386 382 390 470
ROE (net income / shareholders' equity) - - 25.3% - 26.7% 24.7% 25.5% 25.9%
ROA (Net income/ Total Assets) - - - - - - - -
Assets 1 - - - - - - - -
Book Value Per Share 2 - - 5.520 - 8.130 87.80 - -
Cash Flow per Share - - - - - - - -
Capex 1 116 - 130 - 137 131 135 145
Capex / Sales 8.53% - 6.98% - 4.87% 4.34% 4.07% 4%
Announcement Date 3/3/20 3/9/21 3/8/22 3/1/23 3/7/24 - - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
3
Last Close Price
15.18 BRL
Average target price
23 BRL
Spread / Average Target
+51.52%
Consensus

Quarterly revenue - Rate of surprise

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  2. Equities
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  4. Financials Vulcabras S.A.