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Brazilian (BOVESPA) Financials Sector Analysis

UpdatedMar 16, 2026
DataAggregated Company Financials
Companies34
  • 7D-1.6%
  • 3M4.1%
  • 1Y30.5%
  • YTD6.4%

Over the last 7 days, the Financials industry has dropped 1.6%, driven by a pullback from Banco BTG Pactual of 3.5%. In the past year, the industry has gained 31%. As for the next few years, earnings are expected to grow by 10% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 17 Mar 2026R$1.6tR$529.0bR$172.0b7.5x9.4x3x
Thu, 12 Feb 2026R$1.8tR$507.5bR$165.5b8.8x10.7x3.5x
Sat, 10 Jan 2026R$1.5tR$517.3bR$165.1b8.4x9.4x3x
Mon, 08 Dec 2025R$1.5tR$517.3bR$165.1b8.4x9.2x2.9x
Wed, 05 Nov 2025R$1.5tR$522.7bR$164.1b7.8x8.9x2.8x
Fri, 03 Oct 2025R$1.4tR$522.5bR$161.8b7.5x8.7x2.7x
Sun, 31 Aug 2025R$1.4tR$521.3bR$161.9b7.6x8.6x2.7x
Tue, 29 Jul 2025R$1.3tR$523.7bR$160.4b7.2x7.9x2.4x
Thu, 26 Jun 2025R$1.4tR$522.2bR$160.0b7.7x8.5x2.6x
Sat, 24 May 2025R$1.4tR$523.3bR$160.0b8x8.6x2.6x
Mon, 21 Apr 2025R$1.3tR$523.2bR$161.2b7.4x7.8x2.4x
Wed, 19 Mar 2025R$1.3tR$543.6bR$158.9b7.5x7.9x2.3x
Fri, 14 Feb 2025R$1.2tR$542.7bR$157.3b7.3x7.6x2.2x
Sun, 12 Jan 2025R$1.1tR$435.4bR$134.5b6.9x8.1x2.5x
Tue, 10 Dec 2024R$1.2tR$525.9bR$151.6b6.8x7.7x2.2x
Thu, 07 Nov 2024R$1.2tR$515.4bR$147.7b8x8.5x2.4x
Sat, 05 Oct 2024R$1.3tR$509.6bR$145.2b7.9x8.6x2.5x
Mon, 02 Sep 2024R$1.3tR$509.1bR$145.2b8.5x9.2x2.6x
Wed, 31 Jul 2024R$1.2tR$515.2bR$144.7b8x8.5x2.4x
Fri, 28 Jun 2024R$1.2tR$509.3bR$143.1b7.7x8.4x2.4x
Sun, 26 May 2024R$1.2tR$512.4bR$143.2b8.1x8.5x2.4x
Tue, 23 Apr 2024R$1.2tR$500.4bR$138.3b8.4x8.9x2.5x
Thu, 21 Mar 2024R$1.3tR$502.9bR$138.5b9.8x9.4x2.6x
Sat, 17 Feb 2024R$1.3tR$500.4bR$139.6b10.1x9.3x2.6x
Mon, 15 Jan 2024R$1.3tR$508.3bR$139.8b10.5x9.4x2.6x
Wed, 13 Dec 2023R$1.3tR$508.3bR$139.8b9.2x9.1x2.5x
Fri, 10 Nov 2023R$1.2tR$505.9bR$138.8b9x8.6x2.4x
Sun, 08 Oct 2023R$1.1tR$504.7bR$139.0b8.6x8.2x2.3x
Tue, 05 Sep 2023R$1.2tR$504.9bR$139.1b8.9x8.3x2.3x
Thu, 03 Aug 2023R$1.2tR$506.2bR$137.4b9.2x8.9x2.4x
Sat, 01 Jul 2023R$1.2tR$506.8bR$139.7b9.2x8.7x2.4x
Mon, 29 May 2023R$1.1tR$506.4bR$139.6b8.7x8.1x2.2x
Wed, 26 Apr 2023R$1.1tR$518.4bR$136.9b8.4x7.7x2x
Fri, 24 Mar 2023R$954.8bR$519.3bR$136.5b8.3x7x1.8x
Price to Earnings Ratio

7x


Total Market Cap: R$954.8bTotal Earnings: R$136.5bTotal Revenue: R$519.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Financials Sector Price to Earnings3Y Average 8.6x202420252026
Current Industry PE
  • Investors are relatively neutral on the Brazilian Financials industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 8.6x.
  • The 3-year average PS ratio of 2.5x is lower than the industry's current PS ratio of 3.0x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 8.0% 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-1.09%
Financials-1.62%
Insurance2.03%
Diversified Financial1.65%
Mortgage REITs0%0
Consumer Finance0%0
Capital Markets-1.72%
Banks-2.14%
Industry PE
  • Investors are most optimistic about the Capital Markets industry, which is trading close to its 3-year average PE ratio of 16.7x.
    • Analysts are expecting annual earnings growth of 12.9%, which is lower than the prior year's growth of 32.8% per year.
  • Investors are most pessimistic about the Diversified Financial industry, which is trading below its 3-year average of 5.5x.
Forecasted Growth
  • Analysts are most optimistic on the Capital Markets industry, expecting annual earnings growth of 13% over the next 5 years.
  • However this is lower than its past earnings growth rate of 33% per year.
  • In contrast, the Insurance industry is expected to see its earnings grow by 5.3% 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
CXSE3 Caixa Seguridade ParticipaçõesR$18.342.5%
+R$1.4b		17.0%PE12.8x
BBSE3 BB Seguridade ParticipaçõesR$34.921.2%
+R$795.9m		-13.5%PE7.5x
BNBR3 Banco do Nordeste do BrasilR$122.001.9%
+R$222.1m		25.4%PE4.3x
ADMF3 CIABRASF - Cia. Brasileira de Serviços Financeiros S/AR$19.6932.1%
+R$27.9m		-48.9%n/a
RPAD3 Alfa HoldingsR$5.401.9%
+R$8.5m		39.9%PB0.4x

Latest News

FIGE3
R$24.12
Investimentos Bemge
7D
0.04%
1Y
n/a
B3SA3
R$17.60
B3 - Brasil Bolsa Balcão
7D
-2.8%
1Y
46.2%

Data And Technology Expansion Will Drive Stronger Future Potential For This Exchange Operator

Catalysts About B3, Brasil Bolsa Balcão B3 operates Brazil's main stock exchange, derivatives, fixed income, and a growing data and technology ecosystem. What are the underlying business or industry changes driving this perspective?
BBAS3
R$23.67
Banco do Brasil
7D
-5.8%
1Y
-16.9%

BBAS3: Analyst Day Insights Will Support Higher Future Profit Margins

Analysts have raised their price target for Banco do Brasil from R$25.86 to R$26.94, citing updated assumptions that include a slightly lower discount rate, a different outlook for revenue growth, a higher profit margin and a revised future P/E multiple. What's in the News Banco do Brasil held an Analyst/Investor Day event, providing management with an opportunity to update investors on the business and clarify its medium to long term priorities (Key Developments).
RPAD3
R$5.40
Alfa Holdings
7D
1.9%
1Y
39.9%
IRBR3
R$55.74
IRB-Brasil Resseguros
7D
-2.4%
1Y
15.6%

IRBR3: Stable Discount Rate And Margins Will Support A Fairly Valued Outlook

Analysts have trimmed their price target for IRB-Brasil Resseguros to R$10.39 from about R$10.76, citing only marginal tweaks to assumptions around revenue contraction, profit margin, and future P/E that leave their overall valuation framework largely intact. Valuation Changes Fair Value: R$59.86 remains unchanged, indicating no shift in the core valuation output.
FAED11
R$160.00
Fundo de Investimento Imobiliário - FII Anhanguera Educacional
7D
4.1%
1Y
13.9%
BPAC11
R$56.10
Banco BTG Pactual
7D
-3.1%
1Y
57.7%

BPAC11: Slightly Higher Fair Value Will Support Constructive Long Term Outlook

Analysts have inched their price target for Banco BTG Pactual higher to R$63.97 from R$63.89, reflecting small tweaks to assumptions on discount rate, revenue growth, profit margin and future P/E that keep the overall valuation framework largely intact. Valuation Changes Fair Value: R$63.89 to R$63.97, a very small upward adjustment.
CXSE3
R$18.34
Caixa Seguridade Participações
7D
2.5%
1Y
17.0%

CXSE3: Future Returns Will Depend On Margins And P E Expectations Remaining Firm

Analysts have nudged their price target for Caixa Seguridade Participações slightly higher from R$18.57 to R$18.68, supported by updated assumptions for revenue growth, profit margins, and future P/E levels. Valuation Changes Fair Value: R$18.57 to R$18.68, a small upward adjustment in the modeled estimate.
WIZC3
R$9.00
Wiz Co Participações e Corretagem de Seguros
7D
-7.3%
1Y
42.2%

WIZC3: Fair Outlook Will Weigh Meeting Decisions Against Revised Margin Assumptions

Analysts have adjusted their R$ price target on Wiz Co Participações e Corretagem de Seguros to reflect a sharper assumed revenue decline of 11.51% and a higher profit margin of 32.43%, while maintaining a fair value of R$10.00 and using a similar forward P/E of approximately 8.53x. What's in the News Wiz Co Participações e Corretagem de Seguros has scheduled a Special and Extraordinary Shareholders Meeting for March 18, 2026, in Brasília, Brazil, at Edifício Liberty Mall, Asa Norte (Key Developments).
SANB11
R$30.10
Banco Santander (Brasil)
7D
-6.7%
1Y
12.7%
PSSA3
R$48.00
Porto Seguro
7D
-4.0%
1Y
18.9%

PSSA3: Index Addition Will Coincide With Softer Outlook And Richer P/E Multiple

Analysts are keeping Porto Seguro's fair value estimate unchanged at R$46.00, while slightly adjusting their assumptions for discount rate, revenue growth, profit margin and future P/E. This leads to a more cautious, yet still steady, overall view on the stock.
BBSE3
R$34.92
BB Seguridade Participações
7D
1.2%
1Y
-13.5%

BBSE3: Higher Margin Outlook Will Offset Downgrade Concerns And Support Fair Pricing

Narrative Update on BB Seguridade Participações Analysts have trimmed their price target on BB Seguridade Participações from R$38.00 to R$37.75, citing updated assumptions that pair more cautious revenue growth expectations with slightly higher projected profit margins and a modestly higher future P/E. Analyst Commentary Recent commentary around the revised R$37.75 price target gives you a mixed but useful picture of how the market is thinking about BB Seguridade Participações right now.
BNBR3
R$122.00
Banco do Nordeste do Brasil
7D
1.9%
1Y
25.4%
BAZA3
R$84.25
Banco da Amazônia
7D
-1.3%
1Y
-9.8%
PABY11
R$35.51
Fundo de Investimento Imobiliário Panamby
7D
42.0%
1Y
221.6%
ADMF3
R$19.69
CIABRASF - Cia. Brasileira de Serviços Financeiros S/A
7D
32.1%
1Y
-48.9%