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Brazilian (BOVESPA) Market Analysis & Valuation

UpdatedJun 24, 2026
DataAggregated Company Financials
Companies376
  • 7D1.5%
  • 3M-7.0%
  • 1Y13.1%
  • YTD2.6%

The market is up 1.5% in the last 7 days, led by the Utilities and Financials sectors. In the last year, the market has climbed 13%. As for the next few years, earnings are expected to grow by 13% per annum.

Trending IndustriesOil and GasRenewable Energy

Market Valuation and Performance

Has the Brazilian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Jun 2026R$5.0tR$4.0tR$433.1b9.4x11.5x1.2x
Fri, 22 May 2026R$5.1tR$4.0tR$432.2b9.7x11.9x1.3x
Sun, 19 Apr 2026R$5.6tR$4.0tR$435.6b11.2x13x1.4x
Tue, 17 Mar 2026R$5.2tR$4.0tR$447.4b9.7x11.7x1.3x
Thu, 12 Feb 2026R$5.5tR$4.2tR$409.6b10.3x13.4x1.3x
Sat, 10 Jan 2026R$4.9tR$4.2tR$401.8b9.6x12.1x1.2x
Mon, 08 Dec 2025R$4.8tR$4.2tR$401.7b9.5x12x1.1x
Wed, 05 Nov 2025R$4.6tR$4.2tR$432.6b9.6x10.7x1.1x
Fri, 03 Oct 2025R$4.4tR$4.1tR$431.8b8.7x10.3x1.1x
Sun, 31 Aug 2025R$4.4tR$4.2tR$436.8b8.8x10.2x1.1x
Tue, 29 Jul 2025R$4.2tR$4.2tR$406.4b8.7x10.3x1x
Thu, 26 Jun 2025R$4.4tR$4.2tR$406.0b9.5x10.7x1x
Sat, 24 May 2025R$4.5tR$4.8tR$418.4b9.5x10.9x1x
Mon, 21 Apr 2025R$4.3tR$4.7tR$401.5b8.6x10.7x0.9x
Wed, 19 Mar 2025R$4.3tR$4.6tR$404.8b8.5x10.7x0.9x
Fri, 14 Feb 2025R$4.2tR$4.6tR$470.5b8.3x8.9x0.9x
Sun, 12 Jan 2025R$4.0tR$4.1tR$457.2b7.9x8.8x1x
Tue, 10 Dec 2024R$4.4tR$4.6tR$482.3b8.6x9x1x
Thu, 07 Nov 2024R$4.4tR$4.4tR$432.4b9.4x10.3x1x
Sat, 05 Oct 2024R$4.6tR$4.4tR$428.8b9.7x10.6x1x
Mon, 02 Sep 2024R$4.7tR$4.4tR$427.0b10.3x11x1.1x
Wed, 31 Jul 2024R$4.4tR$4.4tR$458.8b9.7x9.6x1x
Fri, 28 Jun 2024R$4.3tR$4.3tR$446.7b9.5x9.6x1x
Sun, 26 May 2024R$4.3tR$4.3tR$444.5b10.2x9.8x1x
Tue, 23 Apr 2024R$4.5tR$4.3tR$460.0b10.1x9.7x1x
Thu, 21 Mar 2024R$4.6tR$4.3tR$452.3b10.5x10.1x1.1x
Sat, 17 Feb 2024R$4.6tR$4.3tR$466.1b10.4x9.8x1x
Mon, 15 Jan 2024R$4.7tR$4.3tR$466.9b11.6x10x1.1x
Wed, 13 Dec 2023R$4.5tR$4.4tR$468.0b11.1x9.6x1x
Fri, 10 Nov 2023R$4.3tR$4.5tR$487.3b10.7x8.8x1x
Sun, 08 Oct 2023R$4.2tR$4.5tR$504.4b10.6x8.3x0.9x
Tue, 05 Sep 2023R$4.3tR$4.5tR$505.7b11.3x8.5x1x
Thu, 03 Aug 2023R$4.5tR$4.6tR$533.1b12x8.5x1x
Sat, 01 Jul 2023R$4.4tR$4.6tR$553.6b11.6x8x1x
Price to Earnings Ratio

8x


Total Market Cap: R$4.4tTotal Earnings: R$553.6bTotal Revenue: R$4.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Market Price to Earnings3Y Average 10.3x202420252026
Current Market PE
  • Investors are optimistic on the Brazilian market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 11.5x which is higher than its 3-year average PE of 10.3x.
Past Earnings Growth
  • The earnings for companies in the Brazilian industry have declined 7.9% per year over the last three years.
  • Revenues have also declined 4.6% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Sector Trends

Which sectors have driven the changes within the Brazilian Market?

BR Market1.51%
Telecom4.08%
Healthcare4.07%
Industrials2.79%
Utilities2.74%
Consumer Discretionary2.64%
Energy1.62%
Financials1.17%
Consumer Staples1.03%
Tech0.63%
Real Estate-0.98%
Materials-1.24%
Sector PE
  • Investors favour the Healthcare sector the most for future growth, which is trading close to its 3-year average PE ratio of 51.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 20.0%, which is higher than its past year's earnings growth of 0.5% per year.
  • The Energy sector is the least preferred by investors for future growth, which is trading below its 3-year average of 6.3x.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 22% over the next 5 years.
  • However this is lower than its past earnings growth rate of 121% per year.
  • In contrast, the Energy 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?

CompanyLast Price7D1YValuationSector
BPAC11 Banco BTG PactualR$52.804.8%
+R$11.6b		25.3%PE14.7xFinancials
WEGE3 WEGR$45.714.4%
+R$8.0b		9.3%PE30.5xIndustrials
AXIA3 AXIA EnergiaR$54.223.5%
+R$5.2b		36.4%PE16.1xUtilities
VIVT3 Telefônica BrasilR$34.284.3%
+R$4.5b		14.9%PE17.2xTelecom
SAUD3 BradsaúdeR$13.818.2%
+R$3.1b		20.9%PE71.5xHealthcare
See more

Market Insights

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Latest News

VALE3
R$79.38
Vale
7D
-0.5%
1Y
57.3%
Narrative Update • Jun 23

VALE3: Copper Expansion And Updated Models Will Drive Future Upside

Analysts have modestly raised their fair value estimate for Vale, with the price target moving higher to reflect updated models that now factor in copper growth and revised assumptions for revenue growth, profit margins, discount rate, and future P/E, supported by a series of recent price target increases in Brazilian reais from several research firms. Analyst Commentary Recent Street research on Vale points to a series of upward price target revisions that feed into the higher fair value estimate.
PRIO3
R$56.10
Prio
7D
-1.1%
1Y
36.7%
Narrative Update • Jun 23

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SAUD3
R$13.81
Bradsaúde
7D
8.2%
1Y
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RADL3
R$17.00
Raia Drogasil
7D
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1Y
11.9%
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BBSE3
R$38.27
BB Seguridade Participações
7D
-2.6%
1Y
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Narrative Update • Jun 18

BBSE3: Fair Value Outlook Will Reflect Recent Rating Upgrade

The analyst price target for BB Seguridade Participações has been nudged higher to R$37.00 from about R$36.92, with the adjustment reflecting updated analyst views on fair value and valuation multiples following recent rating changes on the stock. Analyst Commentary Recent research on BB Seguridade Participações reflects a mix of constructive and cautious views, with the latest move being an upgrade to Market Perform and a R$32 price target.
WEGE3
R$45.71
WEG
7D
4.4%
1Y
9.3%
Narrative Update • Jun 18

WEGE3: Analyst Day Outlook Will Clarify Undervalued Earnings Power

Analysts have lowered their fair value estimate for WEG to R$52.74 from R$54.26, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E levels. What’s in the News for WEG WEG scheduled an Analyst and Investor Day, providing management with a forum to discuss the company’s business outlook, capital allocation priorities and long term positioning with institutional and retail investors.
CSNA3
R$5.27
Companhia Siderúrgica Nacional
7D
-6.4%
1Y
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ABEV3
R$16.37
Ambev
7D
1.1%
1Y
24.5%
Narrative Update • Jun 16

ABEV3: Profitability And Governance Changes Will Shape Fairly Balanced Outlook

Analysts have lifted the implied fair value for Ambev from about R$15.37 to roughly R$16.14, reflecting updated views on revenue growth, profit margins, and future P/E following recent price target increases from several firms. Analyst Commentary Recent research coverage on Ambev shows a mix of optimism and caution, with different firms updating both ratings and price targets in local and U.S. dollar terms.
RDOR3
R$34.34
Rede D'Or São Luiz
7D
3.7%
1Y
-0.8%
Narrative Update • Jun 16

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AXIA3
R$54.22
AXIA Energia
7D
3.5%
1Y
36.4%
New Narrative • Jun 11

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BPAC11
R$52.80
Banco BTG Pactual
7D
4.8%
1Y
25.3%
Narrative Update • Jun 10

BPAC11: Refined Discount Rate Assumptions Will Support Future Upside Potential

Analysts have nudged their price target for Banco BTG Pactual slightly lower to R$65.92 from R$66.31, reflecting updated assumptions that combine a modestly adjusted discount rate with small tweaks to long term revenue growth, profit margin outlook and future P/E expectations. What's in the News No recent news stories, periodical coverage or key developments were provided for Banco BTG Pactual, so there are currently no specific events to highlight for you.
BBAS3
R$19.86
Banco do Brasil
7D
2.3%
1Y
-6.6%
Narrative Update • Jun 06

BBAS3: Higher Revenue Outlook Will Support Repriced Future P E Multiple

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VIVT3
R$34.28
Telefônica Brasil
7D
4.3%
1Y
14.9%
Narrative Update • Jun 05

VIVT3: Capital Return Actions Will Drive A Stronger Forward Outlook

Analysts have nudged their price target for Telefônica Brasil slightly higher to R$40.44 from R$40.29. The revision reflects updated assumptions around revenue growth, profit margins and the stock's future P/E multiple.
BRAV3
R$18.97
Brava Energia
7D
-4.6%
1Y
7.8%
Narrative Update • Jun 04

BRAV3: Mixed Ratings And Ecopetrol Deal Will Shape Future Cash Flow Profile

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ANCR11
R$296.23
Fundo de Investimento Imobiliário - FII Ancar IC
7D
-27.8%
1Y
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SANB11
R$26.75
Banco Santander (Brasil)
7D
-1.2%
1Y
-8.5%