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Brazilian (BOVESPA) Industrials Sector Analysis

UpdatedMar 22, 2026
DataAggregated Company Financials
Companies45
  • 7D-1.4%
  • 3M-6.4%
  • 1Y2.4%
  • YTD-4.5%

The Industrials industry is down 1.4% over the last week with Azul the worst performer, down 13%. Over the last year, the industry has been flat overall. As for the next few years, earnings are expected to grow by 21% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 22 Mar 2026R$443.1bR$344.5bR$18.6b10.1x23.8x1.3x
Tue, 17 Feb 2026R$517.1bR$341.8bR$18.4b11.3x28.1x1.5x
Thu, 15 Jan 2026R$462.4bR$344.8bR$18.4b10.6x25.1x1.3x
Sat, 13 Dec 2025R$471.4bR$344.8bR$18.4b10.6x25.6x1.4x
Mon, 10 Nov 2025R$453.5bR$341.4bR$20.8b10.2x21.8x1.3x
Wed, 08 Oct 2025R$407.3bR$343.5bR$21.0b8.9x19.4x1.2x
Fri, 05 Sep 2025R$437.5bR$343.4bR$20.9b9.1x20.9x1.3x
Sun, 03 Aug 2025R$426.9bR$336.3bR$18.3b8.9x23.4x1.3x
Tue, 01 Jul 2025R$471.0bR$335.3bR$17.5b9.1x26.9x1.4x
Thu, 29 May 2025R$472.9bR$336.1bR$16.6b9.2x28.4x1.4x
Sat, 26 Apr 2025R$490.8bR$326.5bR$15.8b9.5x31x1.5x
Mon, 24 Mar 2025R$465.5bR$326.5bR$17.6b8.1x26.5x1.4x
Wed, 19 Feb 2025R$481.4bR$313.7bR$18.2b8.2x26.5x1.5x
Fri, 17 Jan 2025R$473.1bR$313.7bR$18.5b7.9x25.5x1.5x
Sun, 15 Dec 2024R$517.2bR$313.7bR$18.5b8.7x27.9x1.6x
Tue, 12 Nov 2024R$506.6bR$305.2bR$18.3b8.8x27.7x1.7x
Thu, 10 Oct 2024R$493.8bR$295.8bR$16.5b10.3x30x1.7x
Sat, 07 Sep 2024R$494.9bR$295.7bR$16.5b11.5x30.1x1.7x
Mon, 05 Aug 2024R$482.0bR$286.1bR$18.7b10.3x25.8x1.7x
Wed, 03 Jul 2024R$421.4bR$282.9bR$18.4b11x22.9x1.5x
Fri, 31 May 2024R$408.6bR$297.5bR$18.5b12.5x22.1x1.4x
Sun, 28 Apr 2024R$426.4bR$287.3bR$17.2b11.5x24.7x1.5x
Tue, 26 Mar 2024R$439.0bR$286.1bR$18.2b11.3x24.1x1.5x
Thu, 22 Feb 2024R$408.9bR$292.9bR$16.1b10x25.4x1.4x
Sat, 20 Jan 2024R$415.5bR$292.2bR$15.5b11.2x26.8x1.4x
Mon, 18 Dec 2023R$442.1bR$292.1bR$15.5b11.7x28.5x1.5x
Wed, 15 Nov 2023R$399.3bR$291.1bR$15.5b12.1x25.8x1.4x
Fri, 13 Oct 2023R$410.9bR$285.9bR$15.3b12.4x26.9x1.4x
Sun, 10 Sep 2023R$420.6bR$285.9bR$15.3b12.6x27.5x1.5x
Tue, 08 Aug 2023R$455.9bR$276.9bR$15.6b13x29.2x1.6x
Thu, 06 Jul 2023R$438.9bR$274.4bR$15.0b12.7x29.3x1.6x
Sat, 03 Jun 2023R$434.3bR$273.8bR$15.2b12.7x28.6x1.6x
Mon, 01 May 2023R$417.1bR$267.3bR$18.5b10.1x22.6x1.6x
Wed, 29 Mar 2023R$407.9bR$262.8bR$18.5b9.8x22.1x1.6x
Price to Earnings Ratio

22.1x


Total Market Cap: R$407.9bTotal Earnings: R$18.5bTotal Revenue: R$262.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Industrials Sector Price to Earnings3Y Average 25.6x202420252026
Current Industry PE
  • Investors are relatively neutral on the Brazilian Industrials 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 25.6x.
  • The 3-year average PS ratio of 1.5x is higher than the industry's current PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 9.4% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Industry Trends

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

BR Market-1.22%
Industrials-1.38%
Construction4.45%
Industrials3.32%
Logistics0%0
Airlines0%0
Electrical-0.54%
Marine and Shipping-0.99%
Transportation-1.33%
Aerospace & Defense-2.03%
Machinery-2.82%
Infrastructure-2.85%
Commercial Services-3.14%
Professional Services-3.15%
Building-3.51%
Trade Distributors-5.19%
Industry PE
  • Investors are most optimistic about the Marine and Shipping industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 30.5%, which is lower than the prior year's growth of 135.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Transportation industry, expecting annual earnings growth of 40% over the next 5 years.
  • This is better than its past earnings decline of 10.0% per year.
  • In contrast, the Professional Services industry is expected to see its earnings decline by 7.6% 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
MOVI3 Movida ParticipaçõesR$11.804.4%
+R$170.0m		135.5%PE14.4x
ORVR3 Orizon Valorização de ResíduosR$65.251.7%
+R$107.7m		50.8%PE207.2x
MRSA3B MRS LogísticaR$42.230.5%
+R$77.7m		36.2%PE9.2x
KEPL3 Kepler WeberR$7.771.0%
+R$13.9m		-1.4%PE8.6x

Latest News

ECOR3
R$7.81
EcoRodovias Infraestrutura e Logística
7D
-13.2%
1Y
45.2%

ECOR3: Stable Margins And Undervalued P/E Will Support Future Upside

Narrative Update on EcoRodovias Infraestrutura e Logística Analysts are keeping their R$17.62 price target for EcoRodovias Infraestrutura e Logística unchanged, citing a mix of softer expected revenue growth and slightly higher projected profit margins, along with a steady forward P/E assumption. Valuation Changes Fair Value: The R$17.62 fair value estimate is unchanged, indicating no revision to the central valuation point.
VAMO3
R$3.19
Vamos Locação de Caminhões Máquinas e Equipamentos
7D
-9.6%
1Y
-27.0%
GGPS3
R$15.91
GPS Participações e Empreendimentos
7D
-5.6%
1Y
25.5%
WEGE3
R$45.96
WEG
7D
-0.5%
1Y
-3.9%
RENT3
R$43.21
Localiza Rent a Car
7D
-0.9%
1Y
29.1%

RENT3: Index Reshuffle And Higher Future P/E Will Support Upside

Analysts now set a R$70.00 price target for Localiza Rent a Car, up from about R$67.55. This reflects updated assumptions for slightly lower revenue growth, a modestly higher profit margin, and a higher future P/E multiple.
EMBJ3
R$72.33
Embraer
7D
-2.1%
1Y
-3.3%

EMBJ3: Record Backlog And Execution On Programs Will Drive Future Rerating

Analysts have lifted their fair value estimate for Embraer from R$107.51 to R$108.78, citing refreshed models after recent earnings, a record backlog, and expectations around growth, margins, and a lower future P/E multiple. Analyst Commentary Recent Street research points to a constructive tone around Embraer, with several bullish analysts updating models after the latest Q4 report and record backlog.
MRSA3B
R$42.23
MRS Logística
7D
0.5%
1Y
36.2%
KEPL3
R$7.77
Kepler Weber
7D
1.0%
1Y
-1.4%
ORVR3
R$65.25
Orizon Valorização de Resíduos
7D
1.7%
1Y
50.8%

ORVR3: Future Upside Will Depend On Margins And Higher P/E

Analysts have raised their fair value estimate for Orizon Valorização de Resíduos to R$81.46 from R$78.15, citing updated assumptions for revenue growth, profit margins and future P/E levels as key drivers of the new target. Valuation Changes Fair Value: Updated from R$78.15 to R$81.46, a modest upward move in the modelled estimate.
RAIL3
R$16.12
Rumo
7D
-0.9%
1Y
-9.3%
MOVI3
R$11.80
Movida Participações
7D
4.4%
1Y
135.5%
AZUL53
R$0.00015
Azul
7D
-12.9%
1Y
n/a