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Brazilian (BOVESPA) Market Analysis & Valuation

UpdatedJul 25, 2026
DataAggregated Company Financials
Companies372
  • 7D-0.1%
  • 3M-9.0%
  • 1Y17.2%
  • YTD3.8%

The Energy sector gained 3.1% while the market remained flat over the last week. As for the longer term, the market has risen 17% in the past 12 months. As for the next few years, earnings are expected to grow by 13% per annum.

Trending IndustriesOil and GasRenewable Energy

Market Valuation and Performance

Has the Brazilian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 25 Jul 2026R$5.1tR$4.0tR$432.5b9.1x11.7x1.3x
Mon, 22 Jun 2026R$4.9tR$4.0tR$433.1b9.2x11.3x1.2x
Wed, 20 May 2026R$5.0tR$4.0tR$432.7b9.1x11.6x1.3x
Fri, 17 Apr 2026R$5.7tR$4.0tR$435.7b10.8x13x1.4x
Sun, 15 Mar 2026R$5.2tR$4.0tR$447.4b9.7x11.7x1.3x
Tue, 10 Feb 2026R$5.4tR$4.2tR$404.1b10.1x13.3x1.3x
Thu, 08 Jan 2026R$4.9tR$4.2tR$401.2b9.5x12.2x1.2x
Sat, 06 Dec 2025R$5.0tR$4.2tR$401.7b9.5x12.5x1.2x
Mon, 03 Nov 2025R$4.6tR$4.2tR$433.8b9.4x10.6x1.1x
Wed, 01 Oct 2025R$4.5tR$4.1tR$431.6b8.9x10.5x1.1x
Fri, 29 Aug 2025R$4.4tR$4.2tR$436.3b8.7x10.2x1.1x
Sun, 27 Jul 2025R$4.2tR$4.2tR$405.9b8.8x10.4x1x
Tue, 24 Jun 2025R$4.4tR$4.2tR$406.5b9.2x10.8x1x
Thu, 22 May 2025R$4.5tR$4.8tR$419.7b9.3x10.8x1x
Sat, 19 Apr 2025R$4.3tR$4.7tR$401.5b8.6x10.7x0.9x
Mon, 17 Mar 2025R$4.3tR$4.6tR$419.9b8.3x10.2x0.9x
Wed, 12 Feb 2025R$4.2tR$4.6tR$481.8b8.4x8.8x0.9x
Fri, 10 Jan 2025R$4.1tR$4.6tR$481.0b8.1x8.4x0.9x
Sun, 08 Dec 2024R$4.4tR$4.6tR$482.3b8.7x9x1x
Tue, 05 Nov 2024R$4.4tR$4.4tR$432.6b9.4x10.1x1x
Thu, 03 Oct 2024R$4.6tR$4.4tR$428.8b9.7x10.7x1x
Sat, 31 Aug 2024R$4.7tR$4.4tR$427.6b10.3x10.9x1.1x
Mon, 29 Jul 2024R$4.4tR$4.4tR$459.0b9.8x9.7x1x
Wed, 26 Jun 2024R$4.3tR$4.3tR$446.7b9.4x9.6x1x
Fri, 24 May 2024R$4.4tR$4.3tR$444.5b10.2x9.9x1x
Sun, 21 Apr 2024R$4.5tR$4.3tR$460.0b10.1x9.7x1x
Tue, 19 Mar 2024R$4.5tR$4.3tR$451.8b10.3x10x1x
Thu, 15 Feb 2024R$4.6tR$4.3tR$466.5b10x9.8x1x
Sat, 13 Jan 2024R$4.7tR$4.3tR$466.9b11.6x10x1.1x
Mon, 11 Dec 2023R$4.5tR$4.4tR$467.7b11.1x9.7x1x
Wed, 08 Nov 2023R$4.3tR$4.5tR$488.8b10.8x8.7x0.9x
Fri, 06 Oct 2023R$4.1tR$4.5tR$504.4b10.7x8.2x0.9x
Sun, 03 Sep 2023R$4.3tR$4.5tR$504.9b11.3x8.6x1x
Tue, 01 Aug 2023R$4.5tR$4.6tR$531.2b12.1x8.4x1x
Price to Earnings Ratio

8.4x


Total Market Cap: R$4.5tTotal Earnings: R$531.2bTotal Revenue: R$4.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Market Price to Earnings3Y Average 10.4x202420252026
Current Market PE
  • Investors are optimistic on the Brazilian market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 11.7x which is higher than its 3-year average PE of 10.4x.
Past Earnings Growth
  • The earnings for companies in the Brazilian industry have declined 6.6% per year over the last three years.
  • Revenues have also declined 4.6% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Sector Trends

Which sectors have driven the changes within the Brazilian Market?

BR Market-0.099%
Energy3.12%
Materials2.43%
Industrials1.61%
Financials-0.52%
Consumer Staples-0.83%
Real Estate-1.60%
Utilities-1.69%
Telecom-1.71%
Consumer Discretionary-2.03%
Tech-4.26%
Healthcare-5.16%
Sector PE
  • Investors favour the Healthcare sector the most for future growth, which is trading close to its 3-year average PE ratio of 50.9x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 29.5%, which is higher than its past year's earnings growth of 0.5% per year.
  • The Energy sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 6.4x.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 29% over the next 5 years.
  • This is better than its past earnings growth rate of 0.5% per year.
  • In contrast, the Energy industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
WEGE3 WEGR$45.995.4%
+R$9.9b		27.1%PE30.9xIndustrials
VALE3 ValeR$75.243.2%
+R$9.1b		35.1%PE20.5xMaterials
CMIN3 CSN MineraçãoR$5.696.8%
+R$2.0b		10.1%PE13.9xMaterials
B3SA3 B3 - Brasil Bolsa BalcãoR$15.441.6%
+R$1.2b		18.1%PE15.6xFinancials
PRIO3 PrioR$58.821.7%
+R$783.3m		40.4%PE18.3xEnergy
See more

Market Insights

Header cover image
Healthcare just hit its lowest market weight since 1994. But dig deeper into the sector, and the collapse starts to look like a costume in some ways.
Continue reading
A brand’s strength doesn’t always last

Latest News

WEGE3
R$45.99
WEG
7D
5.4%
1Y
27.1%
Analysis Article • 2h

Analysts Have Made A Financial Statement On WEG S.A.'s (BVMF:WEGE3) Second-Quarter Report

Investors in WEG S.A. ( BVMF:WEGE3 ) had a good week, as its shares rose 5.4% to close at R$45.99 following the release...
PRIO3
R$58.82
Prio
7D
1.7%
1Y
40.4%
Narrative Update • Jul 24

PRIO3: Future Upside Tied To Consistent Margins Despite Index Removal

Analysts have trimmed Prio's fair value estimate to R$80.00 from R$82.00, reflecting updated assumptions for slightly higher revenue growth, stronger profit margins, and a lower future P/E multiple in their price target work. Analyst Commentary Recent Street commentary on insurers provides some context for how bullish analysts are thinking about valuation, execution, and growth.
VALE3
R$75.24
Vale
7D
3.2%
1Y
35.1%
B3SA3
R$15.44
B3 - Brasil Bolsa Balcão
7D
1.6%
1Y
18.1%
Narrative Update • Jul 22

B3SA3: Higher Margin Outlook Will Support Future Earnings Multiple Repricing

Analysts have raised their price target for B3, Brasil Bolsa Balcão, from R$22.00 to R$23.00, citing updates to their models that reflect revised assumptions for profit margins, revenue growth, discount rate and future P/E multiples. What's in the News B3, Brasil Bolsa Balcão, has scheduled a board meeting for May 7, 2026 to consider approval of the company’s first-trimester 2026 financial statements.
SAUD3
R$14.63
Bradsaúde
7D
-3.8%
1Y
22.8%
Narrative Update • Jul 22

SAUD3: Higher Margin Outlook Will Support Stronger Future Earnings Multiple

Analysts have nudged their fair value estimate for Bradsaúde from R$19.00 to R$20.00, citing updated assumptions that include a slightly different revenue outlook, a higher profit margin profile, and a modestly lower future P/E multiple. What’s in the News for Bradsaúde Bradsaúde S.A. scheduled a board meeting for Jun 25, 2026, to approve the payment of interest on equity.
CXSE3
R$21.27
Caixa Seguridade Participações
7D
-3.6%
1Y
56.3%
Narrative Update • Jul 22

CXSE3: Future Returns Will Depend On Sustained P E Multiple Support

Analysts have raised their price target on Caixa Seguridade Participações by R$0.50 to R$20.09, citing updated assumptions around revenue growth, profit margins, and future P/E levels. What’s in the News for Caixa Seguridade Participações Analysts revised their price target for Caixa Seguridade Participações to R$20.09, reflecting updated assumptions on revenue, profitability, and P/E levels.
CPFE3
R$45.09
CPFL Energia
7D
-3.8%
1Y
18.0%
Narrative Update • Jul 21

CPFE3: Higher Margin Outlook Will Support Stronger Forward Earnings Power

Analysts have raised their fair value estimate for CPFL Energia from R$54.59 to R$58.70, citing revised assumptions for revenue growth, profit margins, the discount rate, and the forward P/E multiple. Analyst Commentary Bullish analysts view the higher fair value estimate for CPFL Energia as a reflection of improved confidence in the company’s ability to support its valuation through the updated revenue, margin, discount rate, and forward P/E assumptions.
TIMS3
R$21.47
TIM
7D
-5.0%
1Y
7.4%
Narrative Update • Jul 20

TIMS3: Governance Reforms And Buybacks Will Support Future Upside

Analysts have slightly reduced their price target for TIM to R$26.25 from R$26.84, citing small refinements to long term revenue growth, profit margin assumptions, and the future P/E multiple used in their models. What’s in the News for TIM A board meeting is scheduled for June 17, 2026, to review the activities of the Control and Risks Committee and the Statutory Audit Committee, consider a presentation on TIM’s risk appetite, evaluate an amendment to the Related Parties Transactions Policy, decide on a proposal for interest on shareholders’ equity, review the composition of the Board of Officers, and address other business matters.
EMBJ3
R$82.50
Embraer
7D
0.9%
1Y
24.6%
CMIN3
R$5.69
CSN Mineração
7D
6.8%
1Y
10.1%
Narrative Update • Jul 17

CMIN3: Softer Revenue Outlook Will Likely Pressure Future Returns

Analysts have reduced their price target on CSN Mineração to R$3.10 from R$4.00, citing slightly higher discount rate assumptions, a softer revenue outlook, and a lower future P/E multiple, partially offset by a modestly stronger profit margin forecast. What's in the News for CSN Mineração No recent company specific news items for CSN Mineração were identified in the provided sources.
UGPA3
R$32.71
Ultrapar Participações
7D
2.0%
1Y
97.8%
ENEV3
R$24.90
Eneva
7D
-3.0%
1Y
82.2%
Narrative Update • Jul 14

ENEV3: Elevated Future P/E Will Likely Expose Weaker Profit Margins

Analysts have raised their price target on Eneva to around R$24.20 from R$13.90, reflecting updated assumptions around fair value, discount rate, revenue trends, profit margins and future P/E expectations. What’s in the News for Eneva No recent Eneva specific news items were identified from the provided primary news sources.
RDOR3
R$33.38
Rede D'Or São Luiz
7D
-6.7%
1Y
2.6%
Narrative Update • Jul 14

RDOR3: Sustainability Index Exit Will Shape Future Risk And Return Profile

Analysts have revised their valuation outlook for Rede D'Or São Luiz. The fair value estimate has moved from R$36.70 to about R$38.64 as they incorporate updated assumptions on the discount rate, revenue growth, profit margin and future P/E.
BBSE3
R$41.49
BB Seguridade Participações
7D
0.9%
1Y
23.7%
SBSP3
R$28.38
Companhia de Saneamento Básico do Estado de São Paulo - SABESP
7D
-2.9%
1Y
36.2%
Narrative Update • Jun 26

SBSP3: Higher Discount Rate And Margin Pressure Will Limit Split Appeal

Analysts have revised their price target on Companhia de Saneamento Básico do Estado de São Paulo SABESP to R$26.10 from R$119.86, citing updated assumptions that reflect a higher discount rate, more conservative revenue growth, a lower profit margin outlook and a higher future P/E multiple. What's in the News for Companhia de Saneamento Básico do Estado de São Paulo SABESP Companhia de Saneamento Básico do Estado de São Paulo SABESP has announced a 5-for-1 stock split or significant stock dividend, scheduled for Apr-29-2026.
BPAC11
R$54.67
Banco BTG Pactual
7D
-2.7%
1Y
38.9%
Narrative Update • Jun 25

BPAC11: Slightly Higher Fair Value Will Support Future Upside Potential

Analysts have made a minor adjustment to their Banco BTG Pactual price target, lifting fair value slightly from R$65.92 to R$66.00. This reflects updated assumptions for discount rate, revenue growth, profit margin and future P/E that remain broadly consistent with prior expectations.