Solid Earnings May Not Tell The Whole Story For Azzas 2154 (BVMF:AZZA3)
Nov 17
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Brazilian (BOVESPA) Luxury Industry Analysis
UpdatedNov 18, 2025
DataAggregated Company Financials
Companies13
- 7D1.8%
- 3M9.1%
- 1Y11.0%
- YTD36.0%
In the last week, the Luxury industry is up 1.8%, with Azzas 2154 leading the way, up 3.1%. This takes the industry's 12 month performance to a gain of 11%. Earnings are forecast to grow by 8.5% annually.
Industry Valuation and Performance
Has the Brazilian Luxury Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 18 Nov 2025 | R$39.6b | R$40.4b | R$4.4b | 6.2x | 9.1x | 1x |
| Thu, 16 Oct 2025 | R$34.9b | R$39.4b | R$3.2b | 6.4x | 10.8x | 0.9x |
| Sat, 13 Sep 2025 | R$37.4b | R$39.4b | R$3.2b | 6.9x | 11.6x | 0.9x |
| Mon, 11 Aug 2025 | R$37.1b | R$37.7b | R$3.9b | 6.5x | 9.5x | 1x |
| Wed, 09 Jul 2025 | R$37.4b | R$37.2b | R$3.1b | 7.8x | 12.2x | 1x |
| Fri, 06 Jun 2025 | R$37.9b | R$37.2b | R$3.1b | 7.5x | 12.3x | 1x |
| Sun, 04 May 2025 | R$32.8b | R$34.9b | R$2.8b | 8.3x | 11.8x | 0.9x |
| Tue, 01 Apr 2025 | R$29.3b | R$34.9b | R$2.8b | 7.5x | 10.4x | 0.8x |
| Thu, 27 Feb 2025 | R$29.3b | R$32.2b | R$2.7b | 8.3x | 11x | 0.9x |
| Sat, 25 Jan 2025 | R$30.6b | R$32.1b | R$1.1b | 8.4x | 29x | 1x |
| Mon, 23 Dec 2024 | R$30.6b | R$32.1b | R$1.1b | 7.9x | 29x | 1x |
| Wed, 20 Nov 2024 | R$35.0b | R$32.1b | R$1.1b | 7.9x | 31.7x | 1.1x |
| Fri, 18 Oct 2024 | R$35.8b | R$30.2b | R$1.3b | 8.7x | 26.7x | 1.2x |
| Sun, 15 Sep 2024 | R$40.4b | R$31.4b | R$879.1m | 9.9x | 46x | 1.3x |
| Tue, 13 Aug 2024 | R$35.9b | R$31.2b | R$840.5m | 9.5x | 42.8x | 1.2x |
| Thu, 11 Jul 2024 | R$40.2b | R$36.1b | -R$1,707,621,150.00 | 9.5x | -23.6x | 1.1x |
| Sat, 08 Jun 2024 | R$39.5b | R$36.1b | -R$1,707,621,150.00 | 9.9x | -23.1x | 1.1x |
| Mon, 06 May 2024 | R$40.7b | R$35.9b | -R$1,948,104,704.00 | 9.4x | -20.9x | 1.1x |
| Wed, 03 Apr 2024 | R$43.8b | R$35.9b | -R$1,948,508,151.00 | 9.8x | -22.5x | 1.2x |
| Fri, 01 Mar 2024 | R$44.3b | R$35.4b | R$59.4m | 9.3x | 745x | 1.3x |
| Sun, 28 Jan 2024 | R$43.8b | R$35.5b | R$1.6b | 8.8x | 26.5x | 1.2x |
| Tue, 26 Dec 2023 | R$46.5b | R$35.5b | R$1.6b | 9x | 28.2x | 1.3x |
| Thu, 23 Nov 2023 | R$43.3b | R$35.5b | R$1.6b | 8.9x | 26.2x | 1.2x |
| Sat, 21 Oct 2023 | R$37.4b | R$35.8b | R$1.8b | 8.6x | 20.9x | 1x |
| Mon, 18 Sep 2023 | R$44.6b | R$36.1b | R$1.9b | 10x | 23.9x | 1.2x |
| Wed, 16 Aug 2023 | R$49.5b | R$36.1b | R$1.9b | 11.8x | 26.5x | 1.4x |
| Fri, 14 Jul 2023 | R$49.1b | R$36.1b | R$2.0b | 11.8x | 24.9x | 1.4x |
| Sun, 11 Jun 2023 | R$49.6b | R$36.1b | R$2.0b | 13.3x | 25x | 1.4x |
| Tue, 09 May 2023 | R$40.6b | R$36.0b | R$2.0b | 12.5x | 20.7x | 1.1x |
| Thu, 06 Apr 2023 | R$37.0b | R$35.5b | R$2.2b | 14.5x | 16.5x | 1x |
| Sat, 04 Mar 2023 | R$37.8b | R$33.8b | R$2.3b | 10.8x | 16.1x | 1.1x |
| Mon, 30 Jan 2023 | R$43.5b | R$33.9b | R$2.6b | 10.2x | 16.5x | 1.3x |
| Wed, 28 Dec 2022 | R$43.5b | R$33.9b | R$2.6b | 12.4x | 16.5x | 1.3x |
| Fri, 25 Nov 2022 | R$47.2b | R$33.9b | R$2.7b | 10x | 17.7x | 1.4x |
Price to Earnings Ratio
17.7x
Current Industry PE
- Investors are pessimistic on the Brazilian Luxury industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 10.7x which is lower than its 3-year average PE of 15.9x.
- The 3-year average PS ratio of 1.1x is higher than the industry's current PS ratio of 0.98x.
Past Earnings Growth
- The earnings for companies in the Luxury industry have grown 11% per year over the last three years.
- Revenues for these companies have grown 6.0% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Brazilian Consumer Discretionary industry?
| BR Market | 0.86% | |
| Consumer Discretionary | 0.76% | |
| Luxury | 1.76% | |
| Apparel, Accessories and Luxury Goods | 2.03% | |
| Footwear | 1.70% | |
| Textiles | -2.91% | |
Industry PE
- Investors are most optimistic about the Apparel, Accessories and Luxury Goods industry even though it's trading below its 3-year average PE ratio of 13.3x.
- Analysts are expecting annual earnings growth of 13.2%, which is lower than the prior year's growth of 41.9% per year.
- Investors are most pessimistic about the Textiles industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 0.70x.
Forecasted Growth
- Analysts are most optimistic on the Apparel, Accessories and Luxury Goods industry, expecting annual earnings growth of 13% over the next 5 years.
- However this is lower than its past earnings growth rate of 42% per year.
- In contrast, the Footwear 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?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| AZZA3 Azzas 2154 | R$29.04 | 3.1% +R$181.5m | -30.5% | PE8x | |
| VIVA3 Vivara Participações | R$33.12 | 2.4% +R$181.0m | 38.3% | PE10.5x | |
| GRND3 Grendene | R$4.73 | 2.8% +R$117.3m | -12.2% | PE5.9x | |
| VULC3 Vulcabras | R$20.05 | 1.3% +R$67.9m | 24.0% | PE4.6x | |
| CAMB3 Cambuci | R$9.75 | 5.7% +R$22.2m | -14.8% | PE6.2x |
