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Brazilian (BOVESPA) Financials Sector Analysis

UpdatedMay 03, 2026
DataAggregated Company Financials
Companies32
  • 7D-2.6%
  • 3M-5.0%
  • 1Y21.4%
  • YTD8.4%

Over the last 7 days, the Financials industry has dropped 2.6%, driven by a pullback from Banco BTG Pactual of 2.5%. Meanwhile, Alfa Holdings actually outperformed within the industry, gaining 17% in the last week. In the past year, the industry has gained 21%. Looking forward, earnings are forecast to grow by 11% annually.

Sector Valuation and Performance

Has the Brazilian Financials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 03 May 2026R$1.6tR$511.2bR$163.4b7.5x10.1x3.2x
Tue, 31 Mar 2026R$1.6tR$512.3bR$163.1b7.4x9.7x3.1x
Thu, 26 Feb 2026R$1.8tR$538.3bR$161.7b8.9x11x3.3x
Sat, 24 Jan 2026R$1.7tR$512.4bR$162.1b9x10.2x3.2x
Mon, 22 Dec 2025R$1.5tR$517.3bR$165.1b8.4x9x2.9x
Wed, 19 Nov 2025R$1.5tR$521.4bR$165.0b8.2x9.2x2.9x
Fri, 17 Oct 2025R$1.4tR$522.8bR$162.0b7.2x8.5x2.6x
Sun, 14 Sep 2025R$1.4tR$521.6bR$161.9b7.7x8.5x2.7x
Tue, 12 Aug 2025R$1.3tR$526.8bR$165.0b7.5x8x2.5x
Thu, 10 Jul 2025R$1.4tR$522.8bR$160.1b7.9x8.4x2.6x
Sat, 07 Jun 2025R$1.3tR$522.1bR$159.9b8x8.4x2.6x
Mon, 05 May 2025R$1.3tR$524.2bR$162.1b7.7x8.3x2.6x
Wed, 02 Apr 2025R$1.2tR$523.7bR$162.6b7.6x7.7x2.4x
Fri, 28 Feb 2025R$1.2tR$534.7bR$161.8b7.5x7.3x2.2x
Sun, 26 Jan 2025R$1.2tR$523.9bR$150.4b7.2x7.7x2.2x
Tue, 24 Dec 2024R$1.1tR$523.8bR$150.3b6.8x7.5x2.1x
Thu, 21 Nov 2024R$1.2tR$522.1bR$150.3b7.7x8.1x2.3x
Sat, 19 Oct 2024R$1.3tR$509.6bR$145.2b7.7x8.6x2.5x
Mon, 16 Sep 2024R$1.3tR$509.6bR$145.2b8.2x9.1x2.6x
Wed, 14 Aug 2024R$1.3tR$515.9bR$146.4b8.4x8.9x2.5x
Fri, 12 Jul 2024R$1.2tR$509.3bR$143.1b8x8.5x2.4x
Sun, 09 Jun 2024R$1.2tR$512.5bR$143.2b8x8.5x2.4x
Tue, 07 May 2024R$1.3tR$501.3bR$137.3b8.6x9.2x2.5x
Thu, 04 Apr 2024R$1.3tR$500.4bR$138.2b9.1x9.3x2.6x
Sat, 02 Mar 2024R$1.3tR$499.2bR$138.7b9.7x9.4x2.6x
Mon, 29 Jan 2024R$1.3tR$508.3bR$139.8b10.4x9.3x2.6x
Wed, 27 Dec 2023R$1.3tR$508.3bR$139.8b10x9.5x2.6x
Fri, 24 Nov 2023R$1.2tR$508.8bR$139.9b9.2x8.8x2.4x
Sun, 22 Oct 2023R$1.1tR$504.7bR$139.0b8.4x8x2.2x
Tue, 19 Sep 2023R$1.2tR$504.5bR$139.0b8.5x8.3x2.3x
Thu, 17 Aug 2023R$1.2tR$505.3bR$138.7b8.9x8.4x2.3x
Sat, 15 Jul 2023R$1.2tR$506.8bR$139.7b9x8.6x2.4x
Mon, 12 Jun 2023R$1.2tR$506.5bR$139.6b9.1x8.6x2.4x
Wed, 10 May 2023R$1.1tR$500.0bR$138.0b8.7x7.9x2.2x
Price to Earnings Ratio

7.9x


Total Market Cap: R$1.1tTotal Earnings: R$138.0bTotal Revenue: R$500.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Financials Sector Price to Earnings3Y Average 8.7x202420252026
Current Industry PE
  • Investors are optimistic on the Brazilian Financials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 10.1x which is higher than its 3-year average PE of 8.7x.
  • The 3-year average PS ratio of 2.6x is lower than the industry's current PS ratio of 3.2x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 5.8% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the Brazilian Financials sector?

BR Market-1.78%
Financials-2.57%
Mortgage REITs0%0
Consumer Finance0%0
Diversified Financial-0.13%
Insurance-1.88%
Banks-2.50%
Capital Markets-3.14%
Industry PE
  • Investors are most optimistic about the Capital Markets industry, which is trading close to its 3-year average PE ratio of 16.9x.
    • Analysts are expecting annual earnings growth of 13.9%, which is lower than the prior year's growth of 34.0% per year.
  • Investors are most pessimistic about the Diversified Financial industry, which is trading below its 3-year average of 5.3x.
Forecasted Growth
  • Analysts are most optimistic on the Capital Markets industry, expecting annual earnings growth of 14% over the next 5 years.
  • However this is lower than its past earnings growth rate of 34% per year.
  • In contrast, the Insurance industry is expected to see its earnings grow by 5.1% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
RPAD3 Alfa HoldingsR$7.0016.7%
+R$84.7m		66.7%PB0.6x
BNBR3 Banco do Nordeste do BrasilR$120.000.2%
+R$24.7m		20.0%PE3.8x
G2DI33 G2D InvestmentsR$1.351.5%
+R$2.3m		-8.8%PB0.2x
FAED11 Fundo de Investimento Imobiliário - FII Anhanguera EducacionalR$160.200.08%
+R$83.1k		18.2%n/a
PPLA11 PPLA ParticipationsR$0.561.8%
+R$9.4k		-50.9%PB65.7x

Latest News

BPAC11
R$59.34
Banco BTG Pactual
7D
-2.5%
1Y
57.2%
PSSA3
R$49.79
Porto Seguro
7D
-4.0%
1Y
13.9%

PSSA3: Index Removal And Steady Fair Value Will Support Future Upside

Analysts have kept the fair value for Porto Seguro steady at R$61.0, with only marginal tweaks to underlying assumptions such as revenue growth, profit margin, and future P/E that refine rather than reshape their price target view. What's in the News Porto Seguro S.A. has been removed from the Brazil IBRX 50 Index, which may influence how some index-tracking funds and benchmarks treat the stock (Key Developments).
SANB11
R$29.04
Banco Santander (Brasil)
7D
-2.2%
1Y
0.6%
G2DI33
R$1.35
G2D Investments
7D
1.5%
1Y
-8.8%
B3SA3
R$18.03
B3 - Brasil Bolsa Balcão
7D
-5.0%
1Y
35.5%

B3SA3: Governance Agenda And Settlement Upgrade Will Shape Measured Forward Outlook

Analysts have lifted their price target for B3, Brasil Bolsa Balcão, from R$18.89 to R$19.96, supported by updated assumptions that include adjusted fair value, discount rate, revenue growth, profit margin, and future P/E expectations. What's in the News B3 scheduled a Special and Extraordinary Shareholders Meeting for April 30, 2026, signaling upcoming shareholder decisions on corporate matters.
CXSE3
R$18.09
Caixa Seguridade Participações
7D
-1.5%
1Y
14.5%
BBAS3
R$22.21
Banco do Brasil
7D
-2.2%
1Y
-23.1%

BBAS3: Higher Future P/E Multiple Will Support Bullish Fair Value Outlook

Analysts have trimmed their price target on Banco do Brasil to R$26.94, citing updated assumptions that include slightly lower revenue growth, a reduced profit margin outlook and a higher future P/E multiple. What's in the News Banco do Brasil held an Analyst/Investor Day, providing an updated overview of its business and outlook for shareholders and analysts (Key Developments).
BBSE3
R$33.88
BB Seguridade Participações
7D
-1.2%
1Y
-19.6%

BBSE3: Recent Downgrades Will Still Support Income And Governance Appeal

Analysts trimmed their price target on BB Seguridade Participações from R$37.75 to about R$36.92, citing recent downgrades and more cautious assumptions around revenue growth, profit margins and future P/E expectations. Analyst Commentary Bullish Takeaways Bullish analysts see the revised target around R$36.92 as still reflecting a premium for BB Seguridade Participações relative to their updated assumptions on earnings quality and capital efficiency.
FAED11
R$160.20
Fundo de Investimento Imobiliário - FII Anhanguera Educacional
7D
0.08%
1Y
18.2%
PPLA11
R$0.56
PPLA Participations
7D
1.8%
1Y
-50.9%
BNBR3
R$120.00
Banco do Nordeste do Brasil
7D
0.2%
1Y
20.0%
RPAD3
R$7.00
Alfa Holdings
7D
16.7%
1Y
66.7%
BAZA3
R$84.48
Banco da Amazônia
7D
-1.5%
1Y
-4.9%