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Brazilian (BOVESPA) Industrials Sector Analysis

UpdatedMar 24, 2026
DataAggregated Company Financials
Companies45
  • 7D2.5%
  • 3M-0.8%
  • 1Y9.6%
  • YTD0.04%

Over the last 7 days, the Industrials industry has dropped 1.4%, driven by a pullback from Azul of 13%. Over the last year, the industry has been flat overall. Earnings are forecast to grow by 20% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 24 Mar 2026R$464.0bR$344.1bR$18.1b10.5x25.6x1.3x
Thu, 19 Feb 2026R$517.1bR$341.8bR$18.4b11.5x28.1x1.5x
Sat, 17 Jan 2026R$465.3bR$344.8bR$18.4b10.6x25.3x1.3x
Mon, 15 Dec 2025R$478.0bR$344.8bR$18.4b10.6x26x1.4x
Wed, 12 Nov 2025R$457.8bR$341.5bR$20.9b10.3x21.9x1.3x
Fri, 10 Oct 2025R$413.4bR$343.5bR$21.0b9x19.7x1.2x
Sun, 07 Sep 2025R$444.7bR$343.4bR$20.9b9.2x21.2x1.3x
Tue, 05 Aug 2025R$407.1bR$336.3bR$18.3b9x22.3x1.2x
Thu, 03 Jul 2025R$466.5bR$335.3bR$17.5b8.9x26.7x1.4x
Sat, 31 May 2025R$468.0bR$336.1bR$16.6b9.3x28.1x1.4x
Mon, 28 Apr 2025R$490.8bR$326.5bR$15.8b9.5x31x1.5x
Wed, 26 Mar 2025R$456.5bR$326.8bR$17.5b8.3x26.1x1.4x
Fri, 21 Feb 2025R$473.6bR$313.7bR$18.2b8.2x26x1.5x
Sun, 19 Jan 2025R$472.6bR$313.7bR$18.5b7.9x25.5x1.5x
Tue, 17 Dec 2024R$517.2bR$313.7bR$18.5b8.3x27.9x1.6x
Thu, 14 Nov 2024R$514.7bR$301.7bR$18.1b8.8x28.4x1.7x
Sat, 12 Oct 2024R$495.1bR$295.8bR$16.5b10.5x30.1x1.7x
Mon, 09 Sep 2024R$494.9bR$295.7bR$16.5b11.5x30.1x1.7x
Wed, 07 Aug 2024R$477.2bR$286.1bR$18.7b10.2x25.5x1.7x
Fri, 05 Jul 2024R$433.4bR$282.9bR$18.4b11.5x23.5x1.5x
Sun, 02 Jun 2024R$405.1bR$297.5bR$18.5b12.2x21.9x1.4x
Tue, 30 Apr 2024R$427.7bR$287.3bR$17.2b11.5x24.8x1.5x
Thu, 28 Mar 2024R$440.4bR$287.1bR$17.6b11.4x25.1x1.5x
Sat, 24 Feb 2024R$413.6bR$293.1bR$16.7b9.8x24.8x1.4x
Mon, 22 Jan 2024R$417.6bR$292.2bR$15.5b11.2x26.9x1.4x
Wed, 20 Dec 2023R$444.4bR$292.1bR$15.5b12x28.7x1.5x
Fri, 17 Nov 2023R$418.0bR$288.1bR$15.5b12.3x27x1.5x
Sun, 15 Oct 2023R$400.5bR$285.9bR$15.3b12.5x26.2x1.4x
Tue, 12 Sep 2023R$422.9bR$285.9bR$15.3b12.5x27.6x1.5x
Thu, 10 Aug 2023R$454.4bR$277.7bR$15.6b12.5x29.1x1.6x
Sat, 08 Jul 2023R$437.5bR$274.4bR$15.0b12.8x29.2x1.6x
Mon, 05 Jun 2023R$434.6bR$273.8bR$15.2b12.7x28.6x1.6x
Wed, 03 May 2023R$411.6bR$267.3bR$18.5b9.7x22.3x1.5x
Fri, 31 Mar 2023R$415.5bR$263.9bR$18.4b9.8x22.6x1.6x
Price to Earnings Ratio

22.6x


Total Market Cap: R$415.5bTotal Earnings: R$18.4bTotal Revenue: R$263.9bTotal 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 9.3% 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 Market0.41%
Industrials2.46%
Transportation4.32%
Industrials3.31%
Commercial Services2.54%
Electrical2.27%
Marine and Shipping2.05%
Machinery2.00%
Aerospace & Defense1.12%
Trade Distributors1.01%
Infrastructure0.49%
Construction0%0
Logistics0%0
Airlines0%0
Building-0.63%
Professional Services-3.42%
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
WEGE3 WEGR$47.252.3%
+R$4.4b		0.5%PE31.1x
RENT3 Localiza Rent a CarR$47.045.4%
+R$2.6b		41.5%PE27.5x
RAIL3 RumoR$16.853.3%
+R$1.0b		-1.2%PE36.9x
MOTV3 Motiva Infraestrutura de MobilidadeR$15.532.2%
+R$683.6m		31.7%PE10.8x
EMBJ3 EmbraerR$77.361.1%
+R$606.4m		10.9%PE27.9x

Latest News

EMBJ3
R$77.36
Embraer
7D
1.1%
1Y
10.9%
ECOR3
R$8.38
EcoRodovias Infraestrutura e Logística
7D
-7.9%
1Y
54.9%

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$3.50
Vamos Locação de Caminhões Máquinas e Equipamentos
7D
-1.1%
1Y
-29.4%
WEGE3
R$47.25
WEG
7D
2.3%
1Y
0.5%
RENT3
R$47.04
Localiza Rent a Car
7D
5.4%
1Y
41.5%

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.
MRSA3B
R$43.34
MRS Logística
7D
3.2%
1Y
39.8%
LOGN3
R$31.62
Log-In Logística Intermodal
7D
-1.5%
1Y
45.8%
MOTV3
R$15.53
Motiva Infraestrutura de Mobilidade
7D
2.2%
1Y
31.7%
MILS3
R$13.84
Mills Locação Serviços e Logística
7D
-1.7%
1Y
44.8%

MILS3: Index Removal And Higher Margin Outlook Will Support Bullish Rerating

Analysts have adjusted their price target for Mills Locação Serviços e Logística from R$15.96 to R$16.71, citing updated assumptions around revenue, profit margins and future P/E levels. What's in the News Mills Locação Serviços e Logística was removed from the Brazil Industrial Sector Index.
TGMA3
R$29.50
Tegma Gestão Logística
7D
-1.3%
1Y
-14.6%
ORVR3
R$67.60
Orizon Valorização de Resíduos
7D
4.9%
1Y
54.3%

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$16.85
Rumo
7D
3.3%
1Y
-1.2%
MOVI3
R$13.17
Movida Participações
7D
11.6%
1Y
174.4%
AZUL53
R$0.00017
Azul
7D
-5.6%
1Y
n/a
AERI3
R$2.54
Aeris Indústria e Comércio de Equipamentos para Geração de Energia
7D
-9.9%
1Y
-38.0%
ROMI3
R$7.32
Romi
7D
-5.8%
1Y
-22.4%

Earnings Troubles May Signal Larger Issues for Romi (BVMF:ROMI3) Shareholders

Feb 12
Earnings Troubles May Signal Larger Issues for Romi (BVMF:ROMI3) Shareholders