View ValuationGrendene 将来の成長Future 基準チェック /06現在、 Grendeneの成長と収益を予測するのに十分なアナリストの調査がありません。主要情報n/a収益成長率n/aEPS成長率Luxury 収益成長0.5%収益成長率n/a将来の株主資本利益率n/aアナリストカバレッジNone最終更新日n/a今後の成長に関する最新情報Price Target Changed • Nov 16Price target decreased to R$9.50Down from R$11.00, the current price target is an average from 2 analysts. New target price is 42% above last closing price of R$6.71. Stock is down 23% over the past year. The company posted earnings per share of R$0.67 last year.Price Target Changed • Jul 20Price target decreased to R$9.50Down from R$10.67, the current price target is provided by 1 analyst. New target price is 36% above last closing price of R$7.00. Stock is down 36% over the past year. The company posted earnings per share of R$0.67 last year.すべての更新を表示Recent updatesReported Earnings • May 11First quarter 2026 earnings releasedFirst quarter 2026 results: Revenue: R$533.8m (down 5.3% from 1Q 2025). Net income: R$102.1m (down 9.9% from 1Q 2025). Profit margin: 19% (down from 20% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.Buy Or Sell Opportunity • May 10Now 22% undervalued after recent price dropOver the last 90 days, the stock has fallen 15% to R$4.19. The fair value is estimated to be R$5.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.8% over the last 3 years. Earnings per share has grown by 13%.お知らせ • Mar 23Grendene S.A., Annual General Meeting, Apr 23, 2026Grendene S.A., Annual General Meeting, Apr 23, 2026. Location: to be held exclusively on microsoft teams, BrazilReported Earnings • Mar 09Full year 2025 earnings releasedFull year 2025 results: Revenue: R$2.58b (down 1.7% from FY 2024). Net income: R$644.8m (down 12% from FY 2024). Profit margin: 25% (down from 28% in FY 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.分析記事 • Jan 26Grendene (BVMF:GRND3) Could Be At Risk Of Shrinking As A CompanyIgnoring the stock price of a company, what are the underlying trends that tell us a business is past the growth phase...Valuation Update With 7 Day Price Move • Dec 30Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to R$4.52, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 7x in the Luxury industry in Brazil. Total returns to shareholders of 37% over the past three years.New Risk • Dec 29New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Brazilian stocks, typically moving 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (137% cash payout ratio). Share price has been volatile over the past 3 months (7.8% average weekly change).Upcoming Dividend • Dec 25Upcoming dividend of R$1.09 per shareEligible shareholders must have bought the stock before 29 December 2025. Payment date: 09 September 2026. Payout ratio is a comfortable 63% but the company is paying out more than the cash it is generating. Trailing yield: 9.3%. Lower than top quartile of Brazilian dividend payers (11%). Lower than average of industry peers (12%).Declared Dividend • Nov 12Third quarter dividend of R$0.071 announcedShareholders will receive a dividend of R$0.071. Ex-date: 24th November 2025 Payment date: 10th December 2025 Dividend yield will be 10%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is covered by earnings (32% earnings payout ratio) but not covered by cash flows (137% cash payout ratio). The dividend has increased by an average of 7.5% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 2.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.Reported Earnings • Nov 09Third quarter 2025 earnings released: EPS: R$0.15 (vs R$0.25 in 3Q 2024)Third quarter 2025 results: EPS: R$0.15 (down from R$0.25 in 3Q 2024). Revenue: R$760.1m (up 1.4% from 3Q 2024). Net income: R$138.5m (down 38% from 3Q 2024). Profit margin: 18% (down from 30% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.お知らせ • Nov 08+ 3 more updatesGrendene S.A. to Report Q3, 2026 Results on Nov 05, 2026Grendene S.A. announced that they will report Q3, 2026 results at 9:00 PM, Coordinated Universal Time on Nov 05, 2026Declared Dividend • Aug 11Second quarter dividend of R$0.11 announcedShareholders will receive a dividend of R$0.11. Ex-date: 22nd August 2025 Payment date: 10th December 2025 Dividend yield will be 11%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is covered by earnings (45% earnings payout ratio) but not covered by cash flows (118% cash payout ratio). The dividend has increased by an average of 7.5% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 3.4% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.Reported Earnings • Aug 10Second quarter 2025 earnings released: EPS: R$0.16 (vs R$0.046 in 2Q 2024)Second quarter 2025 results: EPS: R$0.16 (up from R$0.046 in 2Q 2024). Revenue: R$555.3m (up 16% from 2Q 2024). Net income: R$143.6m (up 245% from 2Q 2024). Profit margin: 26% (up from 8.7% in 2Q 2024). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.分析記事 • May 20Grendene's (BVMF:GRND3) Earnings Are Of Questionable QualityLast week's profit announcement from Grendene S.A. ( BVMF:GRND3 ) was underwhelming for investors, despite headline...Reported Earnings • May 12First quarter 2025 earnings releasedFirst quarter 2025 results: Revenue: R$563.8m (up 4.5% from 1Q 2024). Net income: R$113.4m (down 19% from 1Q 2024). Profit margin: 20% (down from 26% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings.Upcoming Dividend • Apr 16Upcoming dividend of R$0.26 per shareEligible shareholders must have bought the stock before 23 April 2025. Payment date: 07 May 2025. Payout ratio is a comfortable 62% and the cash payout ratio is 88%. Trailing yield: 9.1%. Lower than top quartile of Brazilian dividend payers (10%). Higher than average of industry peers (6.1%).お知らせ • Mar 18Grendene S.A., Annual General Meeting, Apr 17, 2025Grendene S.A., Annual General Meeting, Apr 17, 2025. Location: to be held exclusively on, BrazilDeclared Dividend • Mar 06Fourth quarter dividend of R$0.26 announcedShareholders will receive a dividend of R$0.26. Ex-date: 23rd April 2025 Payment date: 7th May 2025 Dividend yield will be 8.5%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is covered by both earnings (62% earnings payout ratio) and cash flows (88% cash payout ratio). The dividend has increased by an average of 7.5% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 31% to shift the payout ratio to a potentially unsustainable range, which is more than the 2.1% EPS decline seen over the last 5 years.Reported Earnings • Mar 02Full year 2024 earnings released: EPS: R$0.81 (vs R$0.62 in FY 2023)Full year 2024 results: EPS: R$0.81 (up from R$0.62 in FY 2023). Revenue: R$2.63b (up 8.0% from FY 2023). Net income: R$735.2m (up 32% from FY 2023). Profit margin: 28% (up from 23% in FY 2023). Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, compared to a 9.4% growth forecast for the Luxury industry in Brazil. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.分析記事 • Jan 08Grendene S.A.'s (BVMF:GRND3) Business Is Trailing The Market But Its Shares Aren'tWith a median price-to-earnings (or "P/E") ratio of close to 8x in Brazil, you could be forgiven for feeling...分析記事 • Nov 18Impressive Earnings May Not Tell The Whole Story For Grendene (BVMF:GRND3)Despite posting some strong earnings, the market for Grendene S.A.'s ( BVMF:GRND3 ) stock hasn't moved much. Our...Declared Dividend • Nov 13Third quarter dividend of R$0.15 announcedShareholders will receive a dividend of R$0.15. Ex-date: 22nd November 2024 Payment date: 5th December 2024 Dividend yield will be 7.6%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 3.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.お知らせ • Nov 11+ 3 more updatesGrendene S.A. to Report Q1, 2025 Results on May 08, 2025Grendene S.A. announced that they will report Q1, 2025 results at 9:00 PM, Coordinated Universal Time on May 08, 2025Reported Earnings • Nov 10Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: R$749.5m (up 8.8% from 3Q 2023). Net income: R$223.5m (up 67% from 3Q 2023). Profit margin: 30% (up from 20% in 3Q 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Luxury industry in Brazil.分析記事 • Aug 15Grendene (BVMF:GRND3) Will Pay A Dividend Of R$0.0147Grendene S.A. ( BVMF:GRND3 ) has announced that it will pay a dividend of R$0.0147 per share on the 4th of September...Declared Dividend • Aug 14Second quarter dividend of R$0.015 announcedShareholders will receive a dividend of R$0.015. Ex-date: 22nd August 2024 Payment date: 4th September 2024 Dividend yield will be 5.1%, which is lower than the industry average of 5.4%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (39% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 3.0% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.Reported Earnings • Aug 11Second quarter 2024 earnings released: EPS: R$0.047 (vs R$0.064 in 2Q 2023)Second quarter 2024 results: EPS: R$0.047 (down from R$0.064 in 2Q 2023). Revenue: R$480.3m (up 3.6% from 2Q 2023). Net income: R$41.6m (down 27% from 2Q 2023). Profit margin: 8.7% (down from 12% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Luxury industry in Brazil. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings.New Risk • Jul 26New major risk - Revenue and earnings growthEarnings have declined by 1.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.5% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Declared Dividend • May 17Dividend of R$0.084 announcedShareholders will receive a dividend of R$0.084. Ex-date: 22nd May 2024 Payment date: 5th June 2024 Dividend yield will be 5.0%, which is lower than the industry average of 5.4%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend.Reported Earnings • May 10First quarter 2024 earnings releasedFirst quarter 2024 results: Revenue: R$539.4m (up 3.7% from 1Q 2023). Net income: R$139.7m (up 14% from 1Q 2023). Profit margin: 26% (up from 24% in 1Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Luxury industry in Brazil.Upcoming Dividend • Apr 26Upcoming dividend of R$0.16 per shareEligible shareholders must have bought the stock before 03 May 2024. Payment date: 15 May 2024. Payout ratio is a comfortable 51% but the company is paying out more than the cash it is generating. Trailing yield: 5.2%. Lower than top quartile of Brazilian dividend payers (8.9%). Higher than average of industry peers (3.8%).分析記事 • Apr 04Grendene (BVMF:GRND3) Is Finding It Tricky To Allocate Its CapitalWhen we're researching a company, it's sometimes hard to find the warning signs, but there are some financial metrics...Declared Dividend • Mar 07Fourth quarter dividend of R$0.16 announcedShareholders will receive a dividend of R$0.16. Ex-date: 3rd May 2024 Payment date: 15th May 2024 Dividend yield will be 4.9%, which is lower than the industry average of 5.4%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 20% over the next 2 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Mar 03Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: EPS: R$0.62 (down from R$0.63 in FY 2022). Revenue: R$2.43b (down 3.1% from FY 2022). Net income: R$557.7m (down 1.8% from FY 2022). Profit margin: 23% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.8%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Luxury industry in Brazil. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.お知らせ • Nov 13+ 3 more updatesGrendene S.A. to Report First Half, 2024 Results on Aug 08, 2024Grendene S.A. announced that they will report first half, 2024 results on Aug 08, 2024お知らせ • Nov 11Grendene S.A. to Report Q3, 2023 Results on May 09, 2024Grendene S.A. announced that they will report Q3, 2023 results at 9:00 PM, Coordinated Universal Time on May 09, 2024New Risk • Nov 11New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 28% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 255% Cash payout ratio: 203% Earnings have declined by 1.0% per year over the past 5 years. Minor Risk Large one-off items impacting financial results.分析記事 • Nov 04Returns On Capital Signal Difficult Times Ahead For Grendene (BVMF:GRND3)If you're looking at a mature business that's past the growth phase, what are some of the underlying trends that pop...分析記事 • Sep 08Here's Why Grendene (BVMF:GRND3) Can Manage Its Debt ResponsiblyWarren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...Reported Earnings • Aug 12Second quarter 2023 earnings released: EPS: R$0.064 (vs R$0.073 in 2Q 2022)Second quarter 2023 results: EPS: R$0.064 (down from R$0.073 in 2Q 2022). Revenue: R$463.6m (down 10% from 2Q 2022). Net income: R$57.2m (down 13% from 2Q 2022). Profit margin: 12% (in line with 2Q 2022). Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Luxury industry in Brazil. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 2% per year.分析記事 • May 21The Returns On Capital At Grendene (BVMF:GRND3) Don't Inspire ConfidenceTo avoid investing in a business that's in decline, there's a few financial metrics that can provide early indications...Reported Earnings • May 12First quarter 2023 earnings releasedFirst quarter 2023 results: Revenue: R$520.1m (flat on 1Q 2022). Net income: R$123.1m (down 1.9% from 1Q 2022). Profit margin: 24% (in line with 1Q 2022). Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Luxury industry in Brazil. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • May 03Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to R$6.65, the stock trades at a trailing P/E ratio of 10.6x. Average forward P/E is 12x in the Luxury industry in Brazil. Total returns to shareholders of 33% over the past three years.Upcoming Dividend • Apr 26Upcoming dividend of R$1.36 per share at 18% yieldEligible shareholders must have bought the stock before 03 May 2023. Payment date: 17 May 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 18%. Within top quartile of Brazilian dividend payers (8.4%). Higher than average of industry peers (5.7%).分析記事 • Apr 12Grendene (BVMF:GRND3) Seems To Use Debt Quite SensiblySome say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Reported Earnings • Mar 04Full year 2022 earnings released: EPS: R$0.63 (vs R$0.67 in FY 2021)Full year 2022 results: EPS: R$0.63 (down from R$0.67 in FY 2021). Revenue: R$2.51b (up 7.3% from FY 2021). Net income: R$568.0m (down 5.5% from FY 2021). Profit margin: 23% (down from 26% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Luxury industry in Brazil. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 9% per year.分析記事 • Jan 17Grendene (BVMF:GRND3) Is Reinvesting At Lower Rates Of ReturnDid you know there are some financial metrics that can provide clues of a potential multi-bagger? Typically, we'll want...分析記事 • Dec 28These 4 Measures Indicate That Grendene (BVMF:GRND3) Is Using Debt Reasonably WellLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Price Target Changed • Nov 16Price target decreased to R$9.50Down from R$11.00, the current price target is an average from 2 analysts. New target price is 42% above last closing price of R$6.71. Stock is down 23% over the past year. The company posted earnings per share of R$0.67 last year.Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Bruno Licarião Rocha was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.お知らせ • Oct 29+ 4 more updatesGrendene S.A. to Report Q3, 2023 Results on Nov 09, 2023Grendene S.A. announced that they will report Q3, 2023 results at 9:00 PM, Coordinated Universal Time on Nov 09, 2023Reported Earnings • Oct 28Third quarter 2022 earnings releasedThird quarter 2022 results: Revenue: R$713.9m (up 6.3% from 3Q 2021). Net income: R$174.2m (down 16% from 3Q 2021). Profit margin: 24% (down from 31% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Luxury industry in Brazil. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings.分析記事 • Oct 18Grendene (BVMF:GRND3) May Have Issues Allocating Its CapitalIf we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...分析記事 • Sep 09Is Grendene (BVMF:GRND3) A Risky Investment?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...分析記事 • Aug 09Grendene (BVMF:GRND3) Is Paying Out A Dividend Of R$0.0284The board of Grendene S.A. ( BVMF:GRND3 ) has announced that it will pay a dividend on the 31st of August, with...Reported Earnings • Aug 05Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: R$517.2m (up 45% from 2Q 2021). Net income: R$65.7m (up 98% from 2Q 2021). Profit margin: 13% (up from 9.3% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 16%, compared to a 21% growth forecast for the industry in Brazil.Price Target Changed • Jul 20Price target decreased to R$9.50Down from R$10.67, the current price target is provided by 1 analyst. New target price is 36% above last closing price of R$7.00. Stock is down 36% over the past year. The company posted earnings per share of R$0.67 last year.分析記事 • Jul 05Here's What's Concerning About Grendene's (BVMF:GRND3) Returns On CapitalWhat are the early trends we should look for to identify a stock that could multiply in value over the long term...分析記事 • Jun 17Grendene (BVMF:GRND3) Has Affirmed Its Dividend Of R$0.079The board of Grendene S.A. ( BVMF:GRND3 ) has announced that it will pay a dividend on the 28th of December, with...分析記事 • May 05Grendene (BVMF:GRND3) Has Announced A Dividend Of R$0.093Grendene S.A. ( BVMF:GRND3 ) will pay a dividend of R$0.093 on the 25th of May. Based on this payment, the dividend...Upcoming Dividend • May 04Upcoming dividend of R$0.093 per shareEligible shareholders must have bought the stock before 10 May 2022. Payment date: 25 May 2022. Payout ratio is a comfortable 66% but the company is paying out more than the cash it is generating. Trailing yield: 4.5%. Lower than top quartile of Brazilian dividend payers (6.6%). Higher than average of industry peers (2.4%).Reported Earnings • May 01First quarter 2022 earnings released: EPS: R$0.14 (vs R$0.14 in 1Q 2021)First quarter 2022 results: EPS: R$0.14 (down from R$0.14 in 1Q 2021). Revenue: R$517.9m (down 1.0% from 1Q 2021). Net income: R$125.5m (down 2.9% from 1Q 2021). Profit margin: 24% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 17%, compared to a 27% growth forecast for the industry in Brazil. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth.Upcoming Dividend • Apr 27Upcoming dividend of R$0.081 per shareEligible shareholders must have bought the stock before 03 May 2022. Payment date: 18 May 2022. Payout ratio is a comfortable 66% but the company is paying out more than the cash it is generating. Trailing yield: 4.8%. Lower than top quartile of Brazilian dividend payers (6.3%). Higher than average of industry peers (2.2%).Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Bruno Licarião Rocha was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.分析記事 • Apr 13Grendene (BVMF:GRND3) Could Easily Take On More DebtThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Valuation Update With 7 Day Price Move • Mar 19Investor sentiment improved over the past weekAfter last week's 22% share price gain to R$9.75, the stock trades at a trailing P/E ratio of 14.6x. Average forward P/E is 17x in the Luxury industry in Brazil. Total returns to shareholders of 38% over the past three years.Reported Earnings • Feb 26Full year 2021 earnings: Revenues in line with analyst expectationsFull year 2021 results: Revenue: R$2.34b (up 24% from FY 2020). Net income: R$601.0m (up 48% from FY 2020). Profit margin: 26% (up from 21% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 8.7%, compared to a 32% growth forecast for the industry in Brazil. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 1% per year.分析記事 • Feb 22I Built A List Of Growing Companies And Grendene (BVMF:GRND3) Made The CutLike a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...分析記事 • Jan 18The Returns On Capital At Grendene (BVMF:GRND3) Don't Inspire ConfidenceIf we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...分析記事 • Jan 02Grendene (BVMF:GRND3) Has A Pretty Healthy Balance SheetWarren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...Reported Earnings • Nov 03Third quarter 2021 earnings releasedThe company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: R$671.4m (up 6.4% from 3Q 2020). Net income: R$208.1m (up 88% from 3Q 2020). Profit margin: 31% (up from 18% in 3Q 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.分析記事 • Oct 12Capital Allocation Trends At Grendene (BVMF:GRND3) Aren't IdealIf you're looking for a multi-bagger, there's a few things to keep an eye out for. One common approach is to try and...分析記事 • Sep 24Here's Why Grendene (BVMF:GRND3) Can Manage Its Debt ResponsiblyDavid Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Reported Earnings • Aug 02Second quarter 2021 earnings releasedThe company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: R$358.0m (up R$301.3m from 2Q 2020). Net income: R$33.2m (up R$77.5m from 2Q 2020). Profit margin: 9.3% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings.分析記事 • Jul 01Capital Allocation Trends At Grendene (BVMF:GRND3) Aren't IdealIf we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...分析記事 • Jun 13Grendene (BVMF:GRND3) Seems To Use Debt Quite SensiblyHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Valuation Update With 7 Day Price Move • May 07Investor sentiment improved over the past weekAfter last week's 18% share price gain to R$9.20, the stock trades at a trailing P/E ratio of 20.5x. Average trailing P/E is 20x in the Luxury industry in Brazil. Total returns to shareholders of 26% over the past three years.Upcoming Dividend • Apr 16Upcoming dividend of R$0.49 per shareEligible shareholders must have bought the stock before 23 April 2021. Payment date: 12 May 2021. Trailing yield: 6.1%. Within top quartile of Brazilian dividend payers (5.0%). Higher than average of industry peers (2.0%).分析記事 • Mar 26Grendene (BVMF:GRND3) Will Be Hoping To Turn Its Returns On Capital AroundTo find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'll want to...分析記事 • Mar 11Grendene's (BVMF:GRND3) Problems Go Beyond Weak ProfitDespite Grendene S.A.'s ( BVMF:GRND3 ) recent earnings report having lackluster headline numbers, the market responded...分析記事 • Mar 09Is Grendene (BVMF:GRND3) A Risky Investment?The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Reported Earnings • Mar 08Full year 2020 earnings releasedThe company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: R$1.90b (down 8.4% from FY 2019). Net income: R$405.2m (down 18% from FY 2019). Profit margin: 21% (down from 24% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.Is New 90 Day High Low • Feb 25New 90-day low: R$7.26The company is down 14% from its price of R$8.41 on 27 November 2020. The Brazilian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is down 8.0% over the same period.分析記事 • Feb 19Should Grendene S.A. (BVMF:GRND3) Be Part Of Your Dividend Portfolio?Is Grendene S.A. ( BVMF:GRND3 ) a good dividend stock? How can we tell? Dividend paying companies with growing earnings...Is New 90 Day High Low • Feb 09New 90-day low: R$7.54The company is down 7.0% from its price of R$8.11 on 10 November 2020. The Brazilian market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 7.0% over the same period.分析記事 • Feb 04Grendene S.A.'s (BVMF:GRND3) Dismal Stock Performance Reflects Weak FundamentalsIt is hard to get excited after looking at Grendene's (BVMF:GRND3) recent performance, when its stock has declined 7.0... このセクションでは通常、投資家が会社の利益創出能力を理解する一助となるよう、プロのアナリストのコンセンサス予想に基づく収益と利益の成長予測を提示する。しかし、Grendene は十分な過去のデータを提供しておらず、アナリストの予測もないため、過去のデータを外挿したり、アナリストの予測を使用しても、その将来の収益を確実に算出することはできません。 シンプリー・ウォール・ストリートがカバーする企業の97%は過去の財務データを持っているため、これはかなり稀な状況です。 業績と収益の成長予測BOVESPA:GRND3 - アナリストの将来予測と過去の財務データ ( )BRL Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数3/31/20262,554634364483N/A12/31/20252,584645421558N/A9/30/20252,739726331526N/A6/30/20252,728811386576N/A3/31/20252,653709491677N/A12/31/20242,629735515703N/A9/30/20242,530648694819N/A6/30/20242,470559724854N/A3/31/20242,453574674795N/A12/31/20232,434558614737N/A9/30/20232,437517639785N/A6/30/20232,461557522681N/A3/31/20232,515566434606N/A12/31/20222,513568363536N/A9/30/20222,539596241402N/A6/30/20222,496630267409N/A3/31/20222,337597463585N/A12/31/20212,343601451556N/A9/30/20212,390679158254N/A6/30/20212,349582191276N/A3/31/20212,048505112191N/A12/31/20201,89740543109N/A9/30/20201,725631314365N/A6/30/20201,677687399447N/A3/31/20202,020772246295N/A12/31/20192,071819N/A427N/A9/30/20192,148536N/A448N/A6/30/20192,165482N/A423N/A3/31/20192,211506N/A534N/A12/31/20182,333586N/A484N/A9/30/20182,296585N/A525N/A6/30/20182,294619N/A512N/A3/31/20182,288645N/A531N/A12/31/20172,252661N/A526N/A6/30/20172,113662N/A517N/A3/31/20172,079663N/A490N/A12/31/20162,045634N/A566N/A9/30/20162,094582N/A612N/A6/30/20162,173564N/A463N/A3/31/20162,146558N/A480N/A12/31/20152,203551N/A443N/A9/30/20152,269552N/A378N/A6/30/20152,255545N/A522N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: GRND3の予測収益成長が 貯蓄率 ( 12.4% ) を上回っているかどうかを判断するにはデータが不十分です。収益対市場: GRND3の収益がBR市場よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です高成長収益: GRND3の収益が今後 3 年間で 大幅に 増加すると予想されるかどうかを判断するにはデータが不十分です。収益対市場: GRND3の収益がBR市場よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です。高い収益成長: GRND3の収益が年間20%よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です。一株当たり利益成長率予想将来の株主資本利益率将来のROE: GRND3の 自己資本利益率 が 3 年後に高くなると予測されるかどうかを判断するにはデータが不十分です成長企業の発掘7D1Y7D1Y7D1YConsumer-durables 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/25 13:49終値2026/05/22 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Grendene S.A. 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。7 アナリスト機関Maria Paula CantusioBB Banco de Investimento S.A.Felipe Cassimiro de FreitasBradesco S.A. Corretora de Títulos e Valores MobiliáriosGuilherme ArrudaBTG Pactual4 その他のアナリストを表示
Price Target Changed • Nov 16Price target decreased to R$9.50Down from R$11.00, the current price target is an average from 2 analysts. New target price is 42% above last closing price of R$6.71. Stock is down 23% over the past year. The company posted earnings per share of R$0.67 last year.
Price Target Changed • Jul 20Price target decreased to R$9.50Down from R$10.67, the current price target is provided by 1 analyst. New target price is 36% above last closing price of R$7.00. Stock is down 36% over the past year. The company posted earnings per share of R$0.67 last year.
Reported Earnings • May 11First quarter 2026 earnings releasedFirst quarter 2026 results: Revenue: R$533.8m (down 5.3% from 1Q 2025). Net income: R$102.1m (down 9.9% from 1Q 2025). Profit margin: 19% (down from 20% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.
Buy Or Sell Opportunity • May 10Now 22% undervalued after recent price dropOver the last 90 days, the stock has fallen 15% to R$4.19. The fair value is estimated to be R$5.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.8% over the last 3 years. Earnings per share has grown by 13%.
お知らせ • Mar 23Grendene S.A., Annual General Meeting, Apr 23, 2026Grendene S.A., Annual General Meeting, Apr 23, 2026. Location: to be held exclusively on microsoft teams, Brazil
Reported Earnings • Mar 09Full year 2025 earnings releasedFull year 2025 results: Revenue: R$2.58b (down 1.7% from FY 2024). Net income: R$644.8m (down 12% from FY 2024). Profit margin: 25% (down from 28% in FY 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.
分析記事 • Jan 26Grendene (BVMF:GRND3) Could Be At Risk Of Shrinking As A CompanyIgnoring the stock price of a company, what are the underlying trends that tell us a business is past the growth phase...
Valuation Update With 7 Day Price Move • Dec 30Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to R$4.52, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 7x in the Luxury industry in Brazil. Total returns to shareholders of 37% over the past three years.
New Risk • Dec 29New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Brazilian stocks, typically moving 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (137% cash payout ratio). Share price has been volatile over the past 3 months (7.8% average weekly change).
Upcoming Dividend • Dec 25Upcoming dividend of R$1.09 per shareEligible shareholders must have bought the stock before 29 December 2025. Payment date: 09 September 2026. Payout ratio is a comfortable 63% but the company is paying out more than the cash it is generating. Trailing yield: 9.3%. Lower than top quartile of Brazilian dividend payers (11%). Lower than average of industry peers (12%).
Declared Dividend • Nov 12Third quarter dividend of R$0.071 announcedShareholders will receive a dividend of R$0.071. Ex-date: 24th November 2025 Payment date: 10th December 2025 Dividend yield will be 10%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is covered by earnings (32% earnings payout ratio) but not covered by cash flows (137% cash payout ratio). The dividend has increased by an average of 7.5% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 2.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
Reported Earnings • Nov 09Third quarter 2025 earnings released: EPS: R$0.15 (vs R$0.25 in 3Q 2024)Third quarter 2025 results: EPS: R$0.15 (down from R$0.25 in 3Q 2024). Revenue: R$760.1m (up 1.4% from 3Q 2024). Net income: R$138.5m (down 38% from 3Q 2024). Profit margin: 18% (down from 30% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.
お知らせ • Nov 08+ 3 more updatesGrendene S.A. to Report Q3, 2026 Results on Nov 05, 2026Grendene S.A. announced that they will report Q3, 2026 results at 9:00 PM, Coordinated Universal Time on Nov 05, 2026
Declared Dividend • Aug 11Second quarter dividend of R$0.11 announcedShareholders will receive a dividend of R$0.11. Ex-date: 22nd August 2025 Payment date: 10th December 2025 Dividend yield will be 11%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is covered by earnings (45% earnings payout ratio) but not covered by cash flows (118% cash payout ratio). The dividend has increased by an average of 7.5% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 3.4% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
Reported Earnings • Aug 10Second quarter 2025 earnings released: EPS: R$0.16 (vs R$0.046 in 2Q 2024)Second quarter 2025 results: EPS: R$0.16 (up from R$0.046 in 2Q 2024). Revenue: R$555.3m (up 16% from 2Q 2024). Net income: R$143.6m (up 245% from 2Q 2024). Profit margin: 26% (up from 8.7% in 2Q 2024). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.
分析記事 • May 20Grendene's (BVMF:GRND3) Earnings Are Of Questionable QualityLast week's profit announcement from Grendene S.A. ( BVMF:GRND3 ) was underwhelming for investors, despite headline...
Reported Earnings • May 12First quarter 2025 earnings releasedFirst quarter 2025 results: Revenue: R$563.8m (up 4.5% from 1Q 2024). Net income: R$113.4m (down 19% from 1Q 2024). Profit margin: 20% (down from 26% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings.
Upcoming Dividend • Apr 16Upcoming dividend of R$0.26 per shareEligible shareholders must have bought the stock before 23 April 2025. Payment date: 07 May 2025. Payout ratio is a comfortable 62% and the cash payout ratio is 88%. Trailing yield: 9.1%. Lower than top quartile of Brazilian dividend payers (10%). Higher than average of industry peers (6.1%).
お知らせ • Mar 18Grendene S.A., Annual General Meeting, Apr 17, 2025Grendene S.A., Annual General Meeting, Apr 17, 2025. Location: to be held exclusively on, Brazil
Declared Dividend • Mar 06Fourth quarter dividend of R$0.26 announcedShareholders will receive a dividend of R$0.26. Ex-date: 23rd April 2025 Payment date: 7th May 2025 Dividend yield will be 8.5%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is covered by both earnings (62% earnings payout ratio) and cash flows (88% cash payout ratio). The dividend has increased by an average of 7.5% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 31% to shift the payout ratio to a potentially unsustainable range, which is more than the 2.1% EPS decline seen over the last 5 years.
Reported Earnings • Mar 02Full year 2024 earnings released: EPS: R$0.81 (vs R$0.62 in FY 2023)Full year 2024 results: EPS: R$0.81 (up from R$0.62 in FY 2023). Revenue: R$2.63b (up 8.0% from FY 2023). Net income: R$735.2m (up 32% from FY 2023). Profit margin: 28% (up from 23% in FY 2023). Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, compared to a 9.4% growth forecast for the Luxury industry in Brazil. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.
分析記事 • Jan 08Grendene S.A.'s (BVMF:GRND3) Business Is Trailing The Market But Its Shares Aren'tWith a median price-to-earnings (or "P/E") ratio of close to 8x in Brazil, you could be forgiven for feeling...
分析記事 • Nov 18Impressive Earnings May Not Tell The Whole Story For Grendene (BVMF:GRND3)Despite posting some strong earnings, the market for Grendene S.A.'s ( BVMF:GRND3 ) stock hasn't moved much. Our...
Declared Dividend • Nov 13Third quarter dividend of R$0.15 announcedShareholders will receive a dividend of R$0.15. Ex-date: 22nd November 2024 Payment date: 5th December 2024 Dividend yield will be 7.6%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 3.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
お知らせ • Nov 11+ 3 more updatesGrendene S.A. to Report Q1, 2025 Results on May 08, 2025Grendene S.A. announced that they will report Q1, 2025 results at 9:00 PM, Coordinated Universal Time on May 08, 2025
Reported Earnings • Nov 10Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: R$749.5m (up 8.8% from 3Q 2023). Net income: R$223.5m (up 67% from 3Q 2023). Profit margin: 30% (up from 20% in 3Q 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Luxury industry in Brazil.
分析記事 • Aug 15Grendene (BVMF:GRND3) Will Pay A Dividend Of R$0.0147Grendene S.A. ( BVMF:GRND3 ) has announced that it will pay a dividend of R$0.0147 per share on the 4th of September...
Declared Dividend • Aug 14Second quarter dividend of R$0.015 announcedShareholders will receive a dividend of R$0.015. Ex-date: 22nd August 2024 Payment date: 4th September 2024 Dividend yield will be 5.1%, which is lower than the industry average of 5.4%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (39% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 3.0% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
Reported Earnings • Aug 11Second quarter 2024 earnings released: EPS: R$0.047 (vs R$0.064 in 2Q 2023)Second quarter 2024 results: EPS: R$0.047 (down from R$0.064 in 2Q 2023). Revenue: R$480.3m (up 3.6% from 2Q 2023). Net income: R$41.6m (down 27% from 2Q 2023). Profit margin: 8.7% (down from 12% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Luxury industry in Brazil. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings.
New Risk • Jul 26New major risk - Revenue and earnings growthEarnings have declined by 1.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.5% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Declared Dividend • May 17Dividend of R$0.084 announcedShareholders will receive a dividend of R$0.084. Ex-date: 22nd May 2024 Payment date: 5th June 2024 Dividend yield will be 5.0%, which is lower than the industry average of 5.4%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend.
Reported Earnings • May 10First quarter 2024 earnings releasedFirst quarter 2024 results: Revenue: R$539.4m (up 3.7% from 1Q 2023). Net income: R$139.7m (up 14% from 1Q 2023). Profit margin: 26% (up from 24% in 1Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Luxury industry in Brazil.
Upcoming Dividend • Apr 26Upcoming dividend of R$0.16 per shareEligible shareholders must have bought the stock before 03 May 2024. Payment date: 15 May 2024. Payout ratio is a comfortable 51% but the company is paying out more than the cash it is generating. Trailing yield: 5.2%. Lower than top quartile of Brazilian dividend payers (8.9%). Higher than average of industry peers (3.8%).
分析記事 • Apr 04Grendene (BVMF:GRND3) Is Finding It Tricky To Allocate Its CapitalWhen we're researching a company, it's sometimes hard to find the warning signs, but there are some financial metrics...
Declared Dividend • Mar 07Fourth quarter dividend of R$0.16 announcedShareholders will receive a dividend of R$0.16. Ex-date: 3rd May 2024 Payment date: 15th May 2024 Dividend yield will be 4.9%, which is lower than the industry average of 5.4%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 20% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Mar 03Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: EPS: R$0.62 (down from R$0.63 in FY 2022). Revenue: R$2.43b (down 3.1% from FY 2022). Net income: R$557.7m (down 1.8% from FY 2022). Profit margin: 23% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.8%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Luxury industry in Brazil. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.
お知らせ • Nov 13+ 3 more updatesGrendene S.A. to Report First Half, 2024 Results on Aug 08, 2024Grendene S.A. announced that they will report first half, 2024 results on Aug 08, 2024
お知らせ • Nov 11Grendene S.A. to Report Q3, 2023 Results on May 09, 2024Grendene S.A. announced that they will report Q3, 2023 results at 9:00 PM, Coordinated Universal Time on May 09, 2024
New Risk • Nov 11New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 28% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 255% Cash payout ratio: 203% Earnings have declined by 1.0% per year over the past 5 years. Minor Risk Large one-off items impacting financial results.
分析記事 • Nov 04Returns On Capital Signal Difficult Times Ahead For Grendene (BVMF:GRND3)If you're looking at a mature business that's past the growth phase, what are some of the underlying trends that pop...
分析記事 • Sep 08Here's Why Grendene (BVMF:GRND3) Can Manage Its Debt ResponsiblyWarren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...
Reported Earnings • Aug 12Second quarter 2023 earnings released: EPS: R$0.064 (vs R$0.073 in 2Q 2022)Second quarter 2023 results: EPS: R$0.064 (down from R$0.073 in 2Q 2022). Revenue: R$463.6m (down 10% from 2Q 2022). Net income: R$57.2m (down 13% from 2Q 2022). Profit margin: 12% (in line with 2Q 2022). Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Luxury industry in Brazil. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 2% per year.
分析記事 • May 21The Returns On Capital At Grendene (BVMF:GRND3) Don't Inspire ConfidenceTo avoid investing in a business that's in decline, there's a few financial metrics that can provide early indications...
Reported Earnings • May 12First quarter 2023 earnings releasedFirst quarter 2023 results: Revenue: R$520.1m (flat on 1Q 2022). Net income: R$123.1m (down 1.9% from 1Q 2022). Profit margin: 24% (in line with 1Q 2022). Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Luxury industry in Brazil. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • May 03Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to R$6.65, the stock trades at a trailing P/E ratio of 10.6x. Average forward P/E is 12x in the Luxury industry in Brazil. Total returns to shareholders of 33% over the past three years.
Upcoming Dividend • Apr 26Upcoming dividend of R$1.36 per share at 18% yieldEligible shareholders must have bought the stock before 03 May 2023. Payment date: 17 May 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 18%. Within top quartile of Brazilian dividend payers (8.4%). Higher than average of industry peers (5.7%).
分析記事 • Apr 12Grendene (BVMF:GRND3) Seems To Use Debt Quite SensiblySome say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Reported Earnings • Mar 04Full year 2022 earnings released: EPS: R$0.63 (vs R$0.67 in FY 2021)Full year 2022 results: EPS: R$0.63 (down from R$0.67 in FY 2021). Revenue: R$2.51b (up 7.3% from FY 2021). Net income: R$568.0m (down 5.5% from FY 2021). Profit margin: 23% (down from 26% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Luxury industry in Brazil. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 9% per year.
分析記事 • Jan 17Grendene (BVMF:GRND3) Is Reinvesting At Lower Rates Of ReturnDid you know there are some financial metrics that can provide clues of a potential multi-bagger? Typically, we'll want...
分析記事 • Dec 28These 4 Measures Indicate That Grendene (BVMF:GRND3) Is Using Debt Reasonably WellLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Price Target Changed • Nov 16Price target decreased to R$9.50Down from R$11.00, the current price target is an average from 2 analysts. New target price is 42% above last closing price of R$6.71. Stock is down 23% over the past year. The company posted earnings per share of R$0.67 last year.
Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Bruno Licarião Rocha was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
お知らせ • Oct 29+ 4 more updatesGrendene S.A. to Report Q3, 2023 Results on Nov 09, 2023Grendene S.A. announced that they will report Q3, 2023 results at 9:00 PM, Coordinated Universal Time on Nov 09, 2023
Reported Earnings • Oct 28Third quarter 2022 earnings releasedThird quarter 2022 results: Revenue: R$713.9m (up 6.3% from 3Q 2021). Net income: R$174.2m (down 16% from 3Q 2021). Profit margin: 24% (down from 31% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Luxury industry in Brazil. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings.
分析記事 • Oct 18Grendene (BVMF:GRND3) May Have Issues Allocating Its CapitalIf we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
分析記事 • Sep 09Is Grendene (BVMF:GRND3) A Risky Investment?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
分析記事 • Aug 09Grendene (BVMF:GRND3) Is Paying Out A Dividend Of R$0.0284The board of Grendene S.A. ( BVMF:GRND3 ) has announced that it will pay a dividend on the 31st of August, with...
Reported Earnings • Aug 05Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: R$517.2m (up 45% from 2Q 2021). Net income: R$65.7m (up 98% from 2Q 2021). Profit margin: 13% (up from 9.3% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 16%, compared to a 21% growth forecast for the industry in Brazil.
Price Target Changed • Jul 20Price target decreased to R$9.50Down from R$10.67, the current price target is provided by 1 analyst. New target price is 36% above last closing price of R$7.00. Stock is down 36% over the past year. The company posted earnings per share of R$0.67 last year.
分析記事 • Jul 05Here's What's Concerning About Grendene's (BVMF:GRND3) Returns On CapitalWhat are the early trends we should look for to identify a stock that could multiply in value over the long term...
分析記事 • Jun 17Grendene (BVMF:GRND3) Has Affirmed Its Dividend Of R$0.079The board of Grendene S.A. ( BVMF:GRND3 ) has announced that it will pay a dividend on the 28th of December, with...
分析記事 • May 05Grendene (BVMF:GRND3) Has Announced A Dividend Of R$0.093Grendene S.A. ( BVMF:GRND3 ) will pay a dividend of R$0.093 on the 25th of May. Based on this payment, the dividend...
Upcoming Dividend • May 04Upcoming dividend of R$0.093 per shareEligible shareholders must have bought the stock before 10 May 2022. Payment date: 25 May 2022. Payout ratio is a comfortable 66% but the company is paying out more than the cash it is generating. Trailing yield: 4.5%. Lower than top quartile of Brazilian dividend payers (6.6%). Higher than average of industry peers (2.4%).
Reported Earnings • May 01First quarter 2022 earnings released: EPS: R$0.14 (vs R$0.14 in 1Q 2021)First quarter 2022 results: EPS: R$0.14 (down from R$0.14 in 1Q 2021). Revenue: R$517.9m (down 1.0% from 1Q 2021). Net income: R$125.5m (down 2.9% from 1Q 2021). Profit margin: 24% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 17%, compared to a 27% growth forecast for the industry in Brazil. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth.
Upcoming Dividend • Apr 27Upcoming dividend of R$0.081 per shareEligible shareholders must have bought the stock before 03 May 2022. Payment date: 18 May 2022. Payout ratio is a comfortable 66% but the company is paying out more than the cash it is generating. Trailing yield: 4.8%. Lower than top quartile of Brazilian dividend payers (6.3%). Higher than average of industry peers (2.2%).
Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Bruno Licarião Rocha was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
分析記事 • Apr 13Grendene (BVMF:GRND3) Could Easily Take On More DebtThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Valuation Update With 7 Day Price Move • Mar 19Investor sentiment improved over the past weekAfter last week's 22% share price gain to R$9.75, the stock trades at a trailing P/E ratio of 14.6x. Average forward P/E is 17x in the Luxury industry in Brazil. Total returns to shareholders of 38% over the past three years.
Reported Earnings • Feb 26Full year 2021 earnings: Revenues in line with analyst expectationsFull year 2021 results: Revenue: R$2.34b (up 24% from FY 2020). Net income: R$601.0m (up 48% from FY 2020). Profit margin: 26% (up from 21% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 8.7%, compared to a 32% growth forecast for the industry in Brazil. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 1% per year.
分析記事 • Feb 22I Built A List Of Growing Companies And Grendene (BVMF:GRND3) Made The CutLike a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...
分析記事 • Jan 18The Returns On Capital At Grendene (BVMF:GRND3) Don't Inspire ConfidenceIf we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
分析記事 • Jan 02Grendene (BVMF:GRND3) Has A Pretty Healthy Balance SheetWarren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...
Reported Earnings • Nov 03Third quarter 2021 earnings releasedThe company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: R$671.4m (up 6.4% from 3Q 2020). Net income: R$208.1m (up 88% from 3Q 2020). Profit margin: 31% (up from 18% in 3Q 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.
分析記事 • Oct 12Capital Allocation Trends At Grendene (BVMF:GRND3) Aren't IdealIf you're looking for a multi-bagger, there's a few things to keep an eye out for. One common approach is to try and...
分析記事 • Sep 24Here's Why Grendene (BVMF:GRND3) Can Manage Its Debt ResponsiblyDavid Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Reported Earnings • Aug 02Second quarter 2021 earnings releasedThe company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: R$358.0m (up R$301.3m from 2Q 2020). Net income: R$33.2m (up R$77.5m from 2Q 2020). Profit margin: 9.3% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings.
分析記事 • Jul 01Capital Allocation Trends At Grendene (BVMF:GRND3) Aren't IdealIf we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
分析記事 • Jun 13Grendene (BVMF:GRND3) Seems To Use Debt Quite SensiblyHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Valuation Update With 7 Day Price Move • May 07Investor sentiment improved over the past weekAfter last week's 18% share price gain to R$9.20, the stock trades at a trailing P/E ratio of 20.5x. Average trailing P/E is 20x in the Luxury industry in Brazil. Total returns to shareholders of 26% over the past three years.
Upcoming Dividend • Apr 16Upcoming dividend of R$0.49 per shareEligible shareholders must have bought the stock before 23 April 2021. Payment date: 12 May 2021. Trailing yield: 6.1%. Within top quartile of Brazilian dividend payers (5.0%). Higher than average of industry peers (2.0%).
分析記事 • Mar 26Grendene (BVMF:GRND3) Will Be Hoping To Turn Its Returns On Capital AroundTo find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'll want to...
分析記事 • Mar 11Grendene's (BVMF:GRND3) Problems Go Beyond Weak ProfitDespite Grendene S.A.'s ( BVMF:GRND3 ) recent earnings report having lackluster headline numbers, the market responded...
分析記事 • Mar 09Is Grendene (BVMF:GRND3) A Risky Investment?The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Reported Earnings • Mar 08Full year 2020 earnings releasedThe company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: R$1.90b (down 8.4% from FY 2019). Net income: R$405.2m (down 18% from FY 2019). Profit margin: 21% (down from 24% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.
Is New 90 Day High Low • Feb 25New 90-day low: R$7.26The company is down 14% from its price of R$8.41 on 27 November 2020. The Brazilian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is down 8.0% over the same period.
分析記事 • Feb 19Should Grendene S.A. (BVMF:GRND3) Be Part Of Your Dividend Portfolio?Is Grendene S.A. ( BVMF:GRND3 ) a good dividend stock? How can we tell? Dividend paying companies with growing earnings...
Is New 90 Day High Low • Feb 09New 90-day low: R$7.54The company is down 7.0% from its price of R$8.11 on 10 November 2020. The Brazilian market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 7.0% over the same period.
分析記事 • Feb 04Grendene S.A.'s (BVMF:GRND3) Dismal Stock Performance Reflects Weak FundamentalsIt is hard to get excited after looking at Grendene's (BVMF:GRND3) recent performance, when its stock has declined 7.0...