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Brazilian (BOVESPA) Industrials Sector Analysis

UpdatedApr 28, 2026
DataAggregated Company Financials
Companies43
  • 7D-4.2%
  • 3M-7.4%
  • 1Y2.4%
  • YTD1.3%

Over the last 7 days, the Industrials industry has dropped 4.2%, driven by declines in Embraer and Localiza Rent a Car of 7.6% and 7.0%, respectively. Over the last year, the industry has been flat overall. Earnings are forecast to grow by 19% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 29 Apr 2026R$467.9bR$342.3bR$19.2b13.1x24.4x1.4x
Fri, 27 Mar 2026R$460.2bR$343.9bR$18.0b10.5x25.5x1.3x
Sun, 22 Feb 2026R$517.5bR$341.8bR$18.4b12x28.1x1.5x
Tue, 20 Jan 2026R$462.0bR$344.8bR$18.4b10.5x25.1x1.3x
Thu, 18 Dec 2025R$471.3bR$344.8bR$18.4b10.3x25.6x1.4x
Sat, 15 Nov 2025R$455.9bR$341.8bR$21.0b10.5x21.7x1.3x
Mon, 13 Oct 2025R$409.0bR$343.5bR$21.0b8.9x19.5x1.2x
Wed, 10 Sep 2025R$438.0bR$343.4bR$20.9b9.1x20.9x1.3x
Fri, 08 Aug 2025R$443.4bR$339.4bR$18.1b9.1x24.5x1.3x
Sun, 06 Jul 2025R$475.5bR$335.3bR$17.5b9.1x27.2x1.4x
Tue, 03 Jun 2025R$466.2bR$336.1bR$16.6b9.2x28x1.4x
Thu, 01 May 2025R$465.6bR$326.5bR$15.8b9.3x29.4x1.4x
Sat, 29 Mar 2025R$448.9bR$326.1bR$16.6b8.2x27x1.4x
Mon, 24 Feb 2025R$472.3bR$313.7bR$18.2b8.1x26x1.5x
Wed, 22 Jan 2025R$476.6bR$313.7bR$18.5b8.1x25.7x1.5x
Fri, 20 Dec 2024R$493.1bR$313.7bR$18.5b8.2x26.6x1.6x
Sun, 17 Nov 2024R$512.1bR$313.1bR$18.5b9.3x27.7x1.6x
Tue, 15 Oct 2024R$495.1bR$295.8bR$16.5b10.5x30.1x1.7x
Thu, 12 Sep 2024R$495.0bR$295.8bR$16.5b12x30.1x1.7x
Sat, 10 Aug 2024R$497.6bR$289.4bR$19.4b11.3x25.6x1.7x
Mon, 08 Jul 2024R$434.9bR$282.9bR$18.4b11.5x23.6x1.5x
Wed, 05 Jun 2024R$405.4bR$297.5bR$18.6b12.4x21.8x1.4x
Fri, 03 May 2024R$421.3bR$287.4bR$17.2b12.1x24.5x1.5x
Sun, 31 Mar 2024R$440.0bR$286.9bR$17.1b11.7x25.7x1.5x
Tue, 27 Feb 2024R$415.4bR$293.1bR$16.7b9.9x24.9x1.4x
Thu, 25 Jan 2024R$418.6bR$292.2bR$15.5b11.1x27x1.4x
Sat, 23 Dec 2023R$445.9bR$292.2bR$15.5b11.9x28.8x1.5x
Mon, 20 Nov 2023R$415.7bR$291.8bR$16.0b11.7x26x1.4x
Wed, 18 Oct 2023R$401.0bR$285.9bR$15.3b12.4x26.2x1.4x
Fri, 15 Sep 2023R$433.4bR$285.9bR$15.3b13.3x28.3x1.5x
Sun, 13 Aug 2023R$449.7bR$282.7bR$15.9b12.4x28.3x1.6x
Tue, 11 Jul 2023R$437.5bR$274.4bR$15.0b12.7x29.2x1.6x
Thu, 08 Jun 2023R$440.0bR$273.8bR$15.2b13.5x29x1.6x
Sat, 06 May 2023R$411.9bR$267.3bR$15.8b11.1x26.1x1.5x
Price to Earnings Ratio

26.1x


Total Market Cap: R$411.9bTotal Earnings: R$15.8bTotal Revenue: R$267.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Industrials Sector Price to Earnings3Y Average 25.7x202420252026
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 25.7x.
  • The industry is trading close to its 3-year average PS ratio of 1.5x.
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 8.2% 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-3.63%
Industrials-4.24%
Construction1.67%
Building0%0
Industrials0%0
Logistics0%0
Airlines0%0
Electrical-0.60%
Professional Services-3.21%
Commercial Services-5.66%
Machinery-5.92%
Transportation-6.41%
Marine and Shipping-6.78%
Aerospace & Defense-7.63%
Infrastructure-8.09%
Trade Distributors-8.16%
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 31.7%, which is higher than its past year's earnings growth of 18.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Transportation industry, expecting annual earnings growth of 35% over the next 5 years.
  • This is better than its past earnings decline of 3.3% 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
AZUL3 AzulR$28.855.2%
+R$521.8m		n/aPE84.3x
NORD3 Nordon Indústrias Metalúrgicas S/AR$2.267.1%
+R$993.2k		-66.0%PS6x

Latest News

GGPS3
R$15.12
GPS Participações e Empreendimentos
7D
-4.6%
1Y
10.9%

GGPS3: Higher Future P/E Will Support Upside Despite Slight Fair Value Trim

Analysts have adjusted their price target for GPS Participações e Empreendimentos slightly lower from R$23.01 to R$22.63, citing updated assumptions around the discount rate, revenue growth, profit margin, and future P/E levels. Valuation Changes Fair Value: Adjusted slightly lower from R$23.01 to R$22.63.
MOTV3
R$15.99
Motiva Infraestrutura de Mobilidade
7D
-4.9%
1Y
18.9%

Toll Network Expansion And Free Flow Rollout Will Support Stronger Long Term Mobility Earnings

Catalysts About Motiva Infraestrutura de Mobilidade Motiva Infraestrutura de Mobilidade operates toll roads, urban rail systems and related mobility concessions across Brazil. What are the underlying business or industry changes driving this perspective?
VAMO3
R$4.06
Vamos Locação de Caminhões Máquinas e Equipamentos
7D
-11.4%
1Y
-17.5%

VAMO3: Lower Margin Outlook Will Weigh On Future Earnings Power

Analysts have trimmed their price target for Vamos Locação de Caminhões Máquinas e Equipamentos, citing a reset in revenue growth and profit margin assumptions, along with a higher projected P/E multiple. Taken together, these changes reduce their estimate of the earnings power that can support valuations denominated in R$.
RAIL3
R$15.59
Rumo
7D
-3.9%
1Y
-19.6%

RAIL3: Future Dividend Policy Will Support Stronger Profitability Outlook

Analysts have trimmed their price target on Rumo slightly from R$19.93 to R$19.67, reflecting updated views on modestly different revenue growth, profit margin and discount rate assumptions while keeping future P/E expectations broadly in line. What's in the News Rumo plans an annual dividend of R$0.1084 per share, with payment scheduled for November 30, 2026 (Key Developments).
RENT3
R$47.31
Localiza Rent a Car
7D
-6.3%
1Y
10.1%

RENT3: Goldman Downgrade And Extraordinary Meeting Will Shape Fairly Valued Outlook

Analysts kept their fair value estimate for Localiza Rent a Car steady at R$50, while modest adjustments to revenue growth, profit margin and P/E assumptions reflect updated views following recent research, including a downgrade highlighted by Goldman Sachs. Analyst Commentary Recent Street research has leaned more cautious on Localiza Rent a Car, with one high profile downgrade framing the discussion around whether the current share price still lines up comfortably with the updated fair value estimate of R$50.
SIMH3
R$11.23
SIMPAR
7D
-11.2%
1Y
4.8%
EMBJ3
R$78.67
Embraer
7D
-1.3%
1Y
21.2%

Simply a smaller aircraft manufacturer benefiting from an Aerospace Upcycle, or is it a niche aerospace platform with moat?

Rating: Buy / Quality Cyclical Growth Style: Aerospace OEM with backlog-driven visibility and multi-segment optionality Core debate: Is Embraer simply a smaller aircraft manufacturer benefiting from an aerospace upcycle, or is it a niche aerospace platform with durable competitive positions, improving margins, and an unusually attractive backlog-to-revenue profile? Executive view Embraer looks increasingly like one of the more attractive ways to invest in aerospace without taking full exposure to the execution problems and balance-sheet complexity of the largest airframers.
NORD3
R$2.26
Nordon Indústrias Metalúrgicas S/A
7D
7.1%
1Y
-66.0%
MOVI3
R$12.94
Movida Participações
7D
-9.9%
1Y
83.0%
AZUL3
R$28.85
Azul
7D
5.2%
1Y
n/a