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Brazilian (BOVESPA) Industrials Sector Analysis

UpdatedMar 19, 2026
DataAggregated Company Financials
Companies45
  • 7D-0.4%
  • 3M-4.7%
  • 1Y4.2%
  • YTD-2.8%

The Industrials industry has been flat over the last week, but Azul has lost 24%. The past year has been better, since the industry has gained 4.2% in that time. 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
Thu, 19 Mar 2026R$451.0bR$343.8bR$18.3b10x24.6x1.3x
Sat, 14 Feb 2026R$520.1bR$341.8bR$18.4b11.3x28.3x1.5x
Mon, 12 Jan 2026R$465.0bR$344.8bR$18.4b10.8x25.3x1.3x
Wed, 10 Dec 2025R$466.1bR$344.8bR$18.4b10.3x25.3x1.4x
Fri, 07 Nov 2025R$450.1bR$341.8bR$21.0b10.2x21.5x1.3x
Sun, 05 Oct 2025R$417.8bR$343.5bR$21.0b8.9x19.9x1.2x
Tue, 02 Sep 2025R$435.3bR$343.4bR$20.9b9x20.8x1.3x
Thu, 31 Jul 2025R$424.5bR$335.7bR$18.3b8.9x23.2x1.3x
Sat, 28 Jun 2025R$464.0bR$335.3bR$17.5b9.2x26.5x1.4x
Mon, 26 May 2025R$457.6bR$336.1bR$16.6b9x27.5x1.4x
Wed, 23 Apr 2025R$463.3bR$326.5bR$15.8b9.3x29.2x1.4x
Fri, 21 Mar 2025R$465.3bR$325.9bR$17.1b8.2x27.2x1.4x
Sun, 16 Feb 2025R$485.4bR$313.7bR$18.2b8.2x26.7x1.5x
Tue, 14 Jan 2025R$463.6bR$313.7bR$18.5b7.8x25x1.5x
Thu, 12 Dec 2024R$499.0bR$313.7bR$18.5b9.2x26.9x1.6x
Sat, 09 Nov 2024R$509.1bR$300.1bR$17.3b9.8x29.4x1.7x
Mon, 07 Oct 2024R$501.4bR$295.8bR$16.5b10.4x30.5x1.7x
Wed, 04 Sep 2024R$491.7bR$295.7bR$16.5b11.9x29.9x1.7x
Fri, 02 Aug 2024R$488.0bR$285.5bR$18.6b10.1x26.2x1.7x
Sun, 30 Jun 2024R$425.0bR$297.4bR$18.5b11.7x23x1.4x
Tue, 28 May 2024R$412.4bR$286.6bR$18.1b12.7x22.7x1.4x
Thu, 25 Apr 2024R$416.7bR$287.3bR$17.2b11.5x24.2x1.5x
Sat, 23 Mar 2024R$443.9bR$285.2bR$17.9b11.3x24.9x1.6x
Mon, 19 Feb 2024R$399.7bR$292.9bR$16.1b10.1x24.8x1.4x
Wed, 17 Jan 2024R$428.5bR$292.2bR$15.5b10.8x27.6x1.5x
Fri, 15 Dec 2023R$440.8bR$292.2bR$15.5b11.8x28.4x1.5x
Sun, 12 Nov 2023R$403.5bR$290.5bR$15.3b11.7x26.5x1.4x
Tue, 10 Oct 2023R$404.6bR$285.9bR$15.3b12.4x26.4x1.4x
Thu, 07 Sep 2023R$428.4bR$285.9bR$15.3b12.6x28x1.5x
Sat, 05 Aug 2023R$455.9bR$276.4bR$15.6b13x29.2x1.6x
Mon, 03 Jul 2023R$437.1bR$274.4bR$15.0b12.6x29.1x1.6x
Wed, 31 May 2023R$425.8bR$273.8bR$15.2b12.5x28x1.6x
Fri, 28 Apr 2023R$411.6bR$266.4bR$18.5b9.9x22.3x1.5x
Sun, 26 Mar 2023R$398.7bR$263.0bR$18.5b9.3x21.6x1.5x
Price to Earnings Ratio

21.6x


Total Market Cap: R$398.7bTotal Earnings: R$18.5bTotal Revenue: R$263.0bTotal 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 Market-0.087%
Industrials-0.45%
Construction6.54%
Industrials3.31%
Aerospace & Defense2.02%
Professional Services1.05%
Electrical0.74%
Logistics0%0
Airlines0%0
Marine and Shipping-0.30%
Infrastructure-0.39%
Building-0.94%
Trade Distributors-1.57%
Transportation-2.27%
Commercial Services-4.04%
Machinery-4.60%
Industry PE
  • Investors are most optimistic about the Electrical industry, which is trading close to its 3-year average PE ratio of 32.5x.
    • Analysts are expecting annual earnings growth of 11.9%, which is higher than its past year's earnings growth of 5.5% 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$46.160.7%
+R$1.4b		-3.6%PE30.4x
EMBJ3 EmbraerR$76.272.1%
+R$1.1b		3.1%PE27.5x
MRSA3B MRS LogísticaR$42.521.2%
+R$175.7m		37.2%PE9.5x
MOTV3 Motiva Infraestrutura de MobilidadeR$15.150.5%
+R$140.7m		27.2%PE10.5x
ALPK3 Allpark Empreendimentos Participações e ServiçosR$4.503.0%
+R$28.3m		51.0%PE69.6x

Latest News

ECOR3
R$8.79
EcoRodovias Infraestrutura e Logística
7D
-4.0%
1Y
61.9%
WEGE3
R$46.16
WEG
7D
0.7%
1Y
-3.6%

WEGE3: Future Earnings Power To Drive Upside After Neutral Downgrade

Analysts have reduced their price target on WEG by R$1 to R$49, reflecting recent Q4 results and updated company guidance. Analyst Commentary Bullish Takeaways Bullish analysts highlight that the new R$49 price target still sits close to prior expectations, suggesting they see the Q4 miss and updated guidance as manageable for long term execution.
MOTV3
R$15.15
Motiva Infraestrutura de Mobilidade
7D
0.5%
1Y
27.2%
TGMA3
R$28.26
Tegma Gestão Logística
7D
-12.5%
1Y
-19.3%
ARML3
R$4.80
Armac Locação Logística e Serviços
7D
1.1%
1Y
-2.4%
MRSA3B
R$42.52
MRS Logística
7D
1.2%
1Y
37.2%
GGPS3
R$16.45
GPS Participações e Empreendimentos
7D
-5.2%
1Y
30.4%

GGPS3: Upcoming Stock Split Will Support Stronger Forward Return Potential

Analysts have slightly adjusted their view on GPS Participações e Empreendimentos, with the fair value estimate moving from R$23.22 to R$23.31 as they refresh assumptions around revenue growth, profit margins and future P/E expectations. What's in the News GPS Participações e Empreendimentos S.A. has announced a stock split or significant stock dividend with a ratio of 1.107384148 to 1, effective December 17, 2025 (Key Developments).
ORVR3
R$65.40
Orizon Valorização de Resíduos
7D
-3.4%
1Y
50.0%

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.
EMBJ3
R$76.27
Embraer
7D
2.1%
1Y
3.1%
RAIL3
R$16.08
Rumo
7D
-2.4%
1Y
-11.6%
VAMO3
R$3.48
Vamos Locação de Caminhões Máquinas e Equipamentos
7D
-6.5%
1Y
-17.9%

VAMO3: Index Inclusion Will Support Future Upside With Steady Fundamentals

Analysts have raised their fair value estimate for Vamos Locação de Caminhões Máquinas e Equipamentos slightly, adjusting the target from about R$5.34 to around R$5.38. This change reflects updated views on steady revenue growth, profit margins and future P/E assumptions.
ALPK3
R$4.50
Allpark Empreendimentos Participações e Serviços
7D
3.0%
1Y
51.0%
MOVI3
R$11.95
Movida Participações
7D
0.4%
1Y
171.0%
RENT3
R$44.11
Localiza Rent a Car
7D
-2.3%
1Y
33.1%

RENT3: Index Rebalancing And Governance Changes Will Shape Fairly Valued Outlook

Analysts have nudged their price target on Localiza Rent a Car to R$50.00. Updated assumptions point to slightly lower revenue growth and profit margins but a higher future P/E, while the fair value estimate remains at R$50.00 and the discount rate is modestly adjusted.
AZUL53
R$0.00016
Azul
7D
-24.3%
1Y
n/a
IFCM3
R$0.78
Infracommerce CXaaS
7D
4.0%
1Y
-97.6%

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