Narrative Update • May 20
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Brazilian (BOVESPA) Industrials Sector Analysis
UpdatedMay 25, 2026
DataAggregated Company Financials
Companies43
- 7D-0.7%
- 3M-18.1%
- 1Y-0.4%
- YTD-8.9%
In the last week, the Industrials industry is flat overall, with Azul standing out by going down 43%. In line with that, the industry has also been flat over the past 12 months. As for the next few years, earnings are expected to grow by 20% per annum.
Sector Valuation and Performance
Has the Brazilian Industrials Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 25 May 2026 | R$421.1b | R$347.3b | R$18.4b | 10.3x | 22.9x | 1.2x |
| Wed, 22 Apr 2026 | R$488.7b | R$342.3b | R$19.2b | 13x | 25.5x | 1.4x |
| Fri, 20 Mar 2026 | R$451.0b | R$344.5b | R$18.6b | 10.5x | 24.2x | 1.3x |
| Sun, 15 Feb 2026 | R$517.1b | R$341.8b | R$18.4b | 11.3x | 28.1x | 1.5x |
| Tue, 13 Jan 2026 | R$465.0b | R$344.8b | R$18.4b | 10.7x | 25.3x | 1.3x |
| Thu, 11 Dec 2025 | R$466.1b | R$344.8b | R$18.4b | 10.2x | 25.3x | 1.4x |
| Sat, 08 Nov 2025 | R$448.2b | R$341.8b | R$21.0b | 10.2x | 21.4x | 1.3x |
| Mon, 06 Oct 2025 | R$417.8b | R$343.5b | R$21.0b | 8.9x | 19.9x | 1.2x |
| Wed, 03 Sep 2025 | R$433.6b | R$343.4b | R$20.9b | 9x | 20.7x | 1.3x |
| Fri, 01 Aug 2025 | R$426.2b | R$335.7b | R$18.3b | 8.8x | 23.3x | 1.3x |
| Sun, 29 Jun 2025 | R$464.0b | R$335.3b | R$17.5b | 9.2x | 26.5x | 1.4x |
| Tue, 27 May 2025 | R$459.7b | R$336.1b | R$16.6b | 8.9x | 27.6x | 1.4x |
| Thu, 24 Apr 2025 | R$469.6b | R$326.5b | R$15.8b | 9.3x | 29.6x | 1.4x |
| Sat, 22 Mar 2025 | R$465.5b | R$326.8b | R$17.8b | 8x | 26.2x | 1.4x |
| Mon, 17 Feb 2025 | R$485.4b | R$313.7b | R$18.2b | 8.2x | 26.7x | 1.5x |
| Wed, 15 Jan 2025 | R$461.7b | R$313.7b | R$18.5b | 7.9x | 24.9x | 1.5x |
| Fri, 13 Dec 2024 | R$519.7b | R$313.7b | R$18.5b | 8.9x | 28x | 1.7x |
| Sun, 10 Nov 2024 | R$506.5b | R$305.2b | R$18.3b | 8.7x | 27.7x | 1.7x |
| Tue, 08 Oct 2024 | R$501.4b | R$295.8b | R$16.5b | 10.4x | 30.5x | 1.7x |
| Thu, 05 Sep 2024 | R$491.7b | R$295.7b | R$16.5b | 11.8x | 29.9x | 1.7x |
| Sat, 03 Aug 2024 | R$481.9b | R$285.5b | R$18.6b | 10.3x | 25.9x | 1.7x |
| Mon, 01 Jul 2024 | R$425.0b | R$297.4b | R$18.5b | 11.7x | 23x | 1.4x |
| Wed, 29 May 2024 | R$416.3b | R$297.5b | R$18.5b | 12.4x | 22.5x | 1.4x |
| Fri, 26 Apr 2024 | R$417.7b | R$287.3b | R$17.2b | 11.5x | 24.2x | 1.5x |
| Sun, 24 Mar 2024 | R$443.9b | R$285.2b | R$17.9b | 11.3x | 24.9x | 1.6x |
| Tue, 20 Feb 2024 | R$399.7b | R$292.9b | R$16.1b | 10.3x | 24.8x | 1.4x |
| Thu, 18 Jan 2024 | R$418.1b | R$292.2b | R$15.5b | 11x | 27x | 1.4x |
| Sat, 16 Dec 2023 | R$445.1b | R$292.1b | R$15.5b | 11.7x | 28.7x | 1.5x |
| Mon, 13 Nov 2023 | R$404.1b | R$290.7b | R$15.4b | 11.7x | 26.2x | 1.4x |
| Wed, 11 Oct 2023 | R$404.6b | R$285.9b | R$15.3b | 12.4x | 26.4x | 1.4x |
| Fri, 08 Sep 2023 | R$428.4b | R$285.9b | R$15.3b | 12.6x | 28x | 1.5x |
| Sun, 06 Aug 2023 | R$455.9b | R$276.4b | R$15.6b | 13x | 29.2x | 1.6x |
| Tue, 04 Jul 2023 | R$439.3b | R$274.4b | R$15.0b | 12.7x | 29.3x | 1.6x |
| Thu, 01 Jun 2023 | R$425.8b | R$273.8b | R$15.2b | 12.4x | 28x | 1.6x |
Price to Earnings Ratio
28x
Current Industry PE
- Investors are pessimistic on the Brazilian Industrials industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 22.9x which is lower than its 3-year average PE of 25.7x.
- The 3-year average PS ratio of 1.5x is higher than the industry's current PS ratio of 1.2x.
Past Earnings Growth
- The earnings for companies in the Industrials industry have grown 6.6% per year over the last three years.
- Revenues for these companies have grown 8.2% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Brazilian Industrials sector?
| BR Market | -0.71% | |
| Industrials | -0.73% | |
| Aerospace & Defense | 1.47% | |
| Trade Distributors | 1.15% | |
| Building | 0% | 0 |
| Industrials | 0% | 0 |
| Logistics | 0% | 0 |
| Airlines | 0% | 0 |
| Electrical | -0.93% | |
| Machinery | -1.04% | |
| Commercial Services | -1.11% | |
| Transportation | -1.12% | |
| Infrastructure | -1.30% | |
| Professional Services | -2.03% | |
| Marine and Shipping | -2.12% | |
| Construction | -4.36% | |
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 37.1%, which is higher than its past year's earnings growth of 15.4% per year.
Forecasted Growth
- Analysts are most optimistic on the Marine and Shipping industry, expecting annual earnings growth of 37% over the next 5 years.
- This is better than its past earnings growth rate of 15% per year.
- In contrast, the Trade Distributors industry is expected to see its earnings growth to stay flat over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| EMBJ3 Embraer | R$72.33 | 1.5% +R$768.8m | 7.7% | PE30.4x | |
| RENT3 Localiza Rent a Car | R$43.35 | 0.9% +R$405.2m | 6.8% | PE21.1x | |
| MILS3 Mills Locação Serviços e Logística | R$13.10 | 3.2% +R$92.9m | 24.9% | PE6.9x | |
| JSLG3 JSL | R$6.76 | 4.0% +R$74.0m | 7.0% | PS0.2x | |
| TGMA3 Tegma Gestão Logística | R$31.44 | 3.3% +R$65.9m | -11.2% | PE8.7x |
