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Brazilian (BOVESPA) Materials Sector Analysis

UpdatedApr 20, 2026
DataAggregated Company Financials
Companies23
  • 7D3.3%
  • 3M7.2%
  • 1Y41.5%
  • YTD14.1%

Over the last 7 days, the Materials industry has risen 3.3%, driven by gains from Vale of 4.9%. This means that the industry has gained 42% over the past year. As for the next few years, earnings are expected to grow by 18% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Apr 2026R$603.0bR$550.4bR$29.3b15x20.6x1.1x
Thu, 19 Mar 2026R$540.5bR$551.1bR$30.2b12.3x17.9x1x
Sat, 14 Feb 2026R$621.9bR$547.4bR$49.7b12x12.5x1.1x
Mon, 12 Jan 2026R$543.5bR$552.5bR$43.7b10.7x12.4x1x
Wed, 10 Dec 2025R$511.9bR$551.9bR$43.8b10.3x11.7x0.9x
Fri, 07 Nov 2025R$487.7bR$542.5bR$41.9b9.5x11.6x0.9x
Sun, 05 Oct 2025R$450.6bR$545.8bR$46.2b8.8x9.8x0.8x
Tue, 02 Sep 2025R$434.9bR$545.8bR$46.2b8.4x9.4x0.8x
Thu, 31 Jul 2025R$426.9bR$543.6bR$39.5b8.4x10.8x0.8x
Sat, 28 Jun 2025R$417.1bR$543.3bR$39.3b8.4x10.6x0.8x
Mon, 26 May 2025R$433.0bR$543.3bR$39.1b8.9x11.1x0.8x
Wed, 23 Apr 2025R$433.2bR$529.3bR$37.2b6.8x11.7x0.8x
Fri, 21 Mar 2025R$467.4bR$529.1bR$38.8b7.7x12x0.9x
Sun, 16 Feb 2025R$461.2bR$528.2bR$53.3b7.4x8.6x0.9x
Tue, 14 Jan 2025R$438.0bR$524.7bR$65.6b7x6.7x0.8x
Thu, 12 Dec 2024R$505.0bR$524.7bR$65.6b8.3x7.7x1x
Sat, 09 Nov 2024R$516.4bR$524.8bR$66.8b8.4x7.7x1x
Mon, 07 Oct 2024R$506.3bR$518.7bR$64.8b9.2x7.8x1x
Wed, 04 Sep 2024R$469.5bR$518.7bR$64.8b9x7.2x0.9x
Fri, 02 Aug 2024R$483.4bR$515.8bR$71.7b9.4x6.7x0.9x
Sun, 30 Jun 2024R$501.7bR$513.2bR$65.9b7.9x7.6x1x
Tue, 28 May 2024R$435.6bR$429.3bR$56.1b7.2x7.8x1x
Thu, 25 Apr 2024R$517.3bR$528.0bR$75.3b6.8x6.9x1x
Sat, 23 Mar 2024R$515.6bR$534.5bR$75.4b7.5x6.8x1x
Mon, 19 Feb 2024R$540.4bR$541.9bR$86.3b7.1x6.3x1x
Wed, 17 Jan 2024R$560.9bR$544.9bR$85.4b7.3x6.6x1x
Fri, 15 Dec 2023R$568.1bR$544.2bR$85.2b7.4x6.7x1x
Sun, 12 Nov 2023R$545.8bR$543.4bR$85.5b6.6x6.4x1x
Tue, 10 Oct 2023R$539.6bR$641.0bR$101.8b5.9x5.3x0.8x
Thu, 07 Sep 2023R$555.3bR$646.8bR$103.5b6.2x5.4x0.9x
Sat, 05 Aug 2023R$556.5bR$661.5bR$106.3b5.7x5.2x0.8x
Mon, 03 Jul 2023R$532.5bR$670.9bR$117.8b5.8x4.5x0.8x
Wed, 31 May 2023R$527.0bR$670.9bR$118.0b5.8x4.5x0.8x
Fri, 28 Apr 2023R$545.8bR$693.1bR$143.0b4.8x3.8x0.8x
Price to Earnings Ratio

3.8x


Total Market Cap: R$545.8bTotal Earnings: R$143.0bTotal Revenue: R$693.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Materials Sector Price to Earnings3Y Average 8.7x202420252026
Current Industry PE
  • Investors are optimistic on the Brazilian Materials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 20.6x which is higher than its 3-year average PE of 8.7x.
  • The 3-year average PS ratio of 0.91x is lower than the industry's current PS ratio of 1.1x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have declined 41% per year over the last three years,
  • Revenues have also declined 7.4% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

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

BR Market-1.05%
Materials3.26%
Metals and Mining3.86%
Paper and Forestry Products2.15%
Packaging-1.87%
Basic Materials-1.92%
Chemicals-5.56%
Industry PE
  • Investors are most optimistic about the Metals and Mining industry which is trading above its 3-year average PE ratio of 9.0x.
    • Analysts are expecting annual earnings growth of 21.9%, which is higher than its past year's earnings decline of 54.1% per year.
  • Investors are most pessimistic about the Paper and Forestry Products industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
  • Analysts are most optimistic on the Metals and Mining industry, expecting annual earnings growth of 22% over the next 5 years.
  • This is better than its past earnings decline of 54% per year.
  • In contrast, the Paper and Forestry Products industry is expected to see its earnings decline by 8.1% 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
VALE3 ValeR$89.752.7%
+R$10.2b		69.7%PE27.7x
CSNA3 Companhia Siderúrgica NacionalR$6.794.1%
+R$358.0m		-21.8%PS0.2x
DXCO3 DexcoR$5.895.4%
+R$272.3m		27.8%PE4522.9x
SUZB3 SuzanoR$47.930.3%
+R$160.7m		-7.5%PE4.4x
BRAP3 BradesparR$21.301.8%
+R$145.4m		29.9%PE15.3x

Latest News

CMIN3
R$4.98
CSN Mineração
7D
-0.4%
1Y
-11.9%

CMIN3: Online Meeting And Higher Discount Rate Will Shape Steady Outlook

Analysts have lowered their price target for CSN Mineração to around R$5.50 from about R$5.64, citing updated assumptions that include a higher discount rate, a shift to expectations of revenue decline, slightly lower profit margins, and a higher future P/E. What's in the News CSN Mineração scheduled a Special and Extraordinary Shareholders Meeting for April 16, 2026, at 11:00 SE Asia Standard Time (Key Developments) The meeting is planned to be held exclusively online rather than in person (Key Developments) The company lists the meeting location as Vietnam, which may be relevant if you usually follow Brazil-based corporate events (Key Developments) Valuation Changes Fair Value: revised slightly lower from R$5.64 to R$5.50 per share.
DXCO3
R$5.89
Dexco
7D
5.4%
1Y
27.8%

DXCO3: Higher Revenue Outlook And Richer Future P/E Will Support Upside

Analysts have raised their valuation of Dexco, increasing the fair value estimate from R$8.70 to R$9.00. The change reflects updated assumptions that include higher revenue growth expectations, a lower discount rate and a richer future P/E multiple, partly offset by a lower projected profit margin.
ETER3
R$4.08
Eternit
7D
-3.3%
1Y
-11.1%
RANI3
R$8.95
Irani Papel e Embalagem
7D
-7.3%
1Y
24.8%
CSNA3
R$6.79
Companhia Siderúrgica Nacional
7D
4.1%
1Y
-21.8%

CSNA3: Narrower Iron Ore Guidance Range Will Support Margins And Bullish Outlook

Analysts trimmed their price target for Companhia Siderúrgica Nacional from about R$9.38 to roughly R$8.98, citing updated assumptions that combine a higher discount rate and more modest revenue growth with a stronger profit margin outlook and a lower future P/E multiple. What's in the News Company updated its 2026 production guidance for iron ore, setting projected production and third party purchase volumes in a range of 45.0 to 47.0 Mton, compared with the previous 43.5 to 47.5 Mton range (Key Developments).
CBAV3
R$10.63
Companhia Brasileira de Alumínio
7D
-0.5%
1Y
170.5%
VITT3
R$3.74
Vittia
7D
-3.9%
1Y
-16.0%

VITT3: Higher Margins And Upcoming Shareholder Meeting Will Support Future Upside

Analysts have trimmed their fair value estimate for Vittia from R$6.27 to R$5.50, reflecting updates to assumptions on growth, margins, discount rate, and future P/E multiples. What's in the News Vittia has scheduled a special or extraordinary shareholders meeting for April 23, 2026.
VALE3
R$89.75
Vale
7D
2.7%
1Y
69.7%

VALE3: Copper Strength And Base Metals Mix Will Support Future Upside

Analysts have slightly reduced the fair value estimate for Vale. The updated price target of R$101.20 reflects a higher discount rate and more conservative revenue growth assumptions, partly offset by a marginally stronger profit margin outlook and a lower future P/E.
SUZB3
R$47.93
Suzano
7D
0.3%
1Y
-7.5%

SUZB3: Share Repurchases And Dividend Proposal Will Support Future Upside

Analysts have slightly trimmed Suzano's fair value estimate to R$70.98 from R$71.21, as small adjustments to the discount rate, revenue growth, profit margin, and forward P/E assumptions feed through to the price target calculation. What's in the News Suzano has called a Special and Extraordinary Shareholders Meeting for April 23, 2026, which will address key corporate matters including proposed dividends and bylaw changes (company event filing).
NUTR3
R$2.32
Nutriplant Indústria e Comércio S/A
7D
2.7%
1Y
-40.2%

Weak Statutory Earnings May Not Tell The Whole Story For Nutriplant Indústria e Comércio S/A (BVMF:NUTR3)

Apr 03
Weak Statutory Earnings May Not Tell The Whole Story For Nutriplant Indústria e Comércio S/A (BVMF:NUTR3)
DEXP3
R$7.40
Dexxos Participações
7D
1.1%
1Y
6.7%

Dexxos Participações' (BVMF:DEXP3) Solid Earnings May Rest On Weak Foundations

Apr 01
Dexxos Participações' (BVMF:DEXP3) Solid Earnings May Rest On Weak Foundations
FHER3
R$4.25
Fertilizantes Heringer
7D
-2.3%
1Y
14.6%
PMAM3
R$0.55
Paranapanema
7D
-1.8%
1Y
-75.0%
BRAP3
R$21.30
Bradespar
7D
1.8%
1Y
29.9%
KLBN11
R$18.78
Klabin
7D
-2.1%
1Y
6.0%