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Brazilian (BOVESPA) Market Analysis & Valuation

UpdatedJan 18, 2026
DataAggregated Company Financials
Companies377
  • 7D0.3%
  • 3M8.6%
  • 1Y20.2%
  • YTD1.7%

Over the last 7 days, the market has remained flat, although notably the Energy sector gained 5.5% in that time. Meanwhile, the market is actually up 20% over the past year. Looking forward, earnings are forecast to grow by 13% annually.

Trending IndustriesOil and GasRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 18 Jan 2026R$4.9tR$4.2tR$398.7b9.4x12.3x1.2x
Tue, 16 Dec 2025R$4.8tR$4.2tR$401.6b9.8x12.1x1.2x
Thu, 13 Nov 2025R$4.8tR$5.5tR$571.7b9.6x8.5x0.9x
Sat, 11 Oct 2025R$4.3tR$4.2tR$434.7b8.6x10x1x
Mon, 08 Sep 2025R$4.5tR$4.2tR$436.4b8.9x10.3x1.1x
Wed, 06 Aug 2025R$4.2tR$4.2tR$406.8b8.9x10.4x1x
Fri, 04 Jul 2025R$4.5tR$4.2tR$406.1b9.5x11x1.1x
Sun, 01 Jun 2025R$4.5tR$4.8tR$418.5b9.4x10.8x1x
Tue, 29 Apr 2025R$4.5tR$4.7tR$404.0b8.9x11.1x1x
Thu, 27 Mar 2025R$4.4tR$4.7tR$411.1b8.4x10.6x0.9x
Sat, 22 Feb 2025R$4.3tR$4.6tR$473.4b8.3x9x0.9x
Mon, 20 Jan 2025R$4.1tR$4.6tR$481.0b8.2x8.6x0.9x
Wed, 18 Dec 2024R$4.2tR$4.6tR$481.2b8.5x8.8x0.9x
Fri, 15 Nov 2024R$4.4tR$4.5tR$456.4b9.1x9.6x1x
Sun, 13 Oct 2024R$4.5tR$4.4tR$428.9b9.5x10.5x1x
Tue, 10 Sep 2024R$4.7tR$4.4tR$427.0b10.2x10.9x1.1x
Thu, 08 Aug 2024R$4.5tR$4.4tR$457.0b9.7x9.7x1x
Sat, 06 Jul 2024R$4.4tR$4.3tR$446.5b10x9.8x1x
Mon, 03 Jun 2024R$4.3tR$4.3tR$445.1b10x9.6x1x
Wed, 01 May 2024R$4.5tR$4.3tR$457.8b10.1x9.8x1x
Fri, 29 Mar 2024R$4.6tR$4.3tR$457.0b10.4x10x1.1x
Sun, 25 Feb 2024R$4.6tR$4.4tR$465.4b10.3x9.9x1.1x
Tue, 23 Jan 2024R$4.5tR$4.3tR$466.8b11.5x9.7x1x
Thu, 21 Dec 2023R$4.7tR$4.4tR$467.5b11.7x10.1x1.1x
Sat, 18 Nov 2023R$4.5tR$4.4tR$471.3b10.4x9.5x1x
Mon, 16 Oct 2023R$4.2tR$4.5tR$504.1b10.6x8.3x0.9x
Wed, 13 Sep 2023R$4.3tR$4.5tR$506.1b11.4x8.5x1x
Fri, 11 Aug 2023R$4.4tR$4.5tR$511.4b12.2x8.6x1x
Sun, 09 Jul 2023R$4.4tR$4.6tR$552.8b11.9x8x1x
Tue, 06 Jun 2023R$4.2tR$4.6tR$554.3b11.4x7.6x0.9x
Thu, 04 May 2023R$3.9tR$4.6tR$575.6b9.7x6.7x0.8x
Sat, 01 Apr 2023R$3.9tR$4.6tR$595.3b9.9x6.5x0.8x
Mon, 27 Feb 2023R$4.0tR$4.6tR$608.1b9.5x6.6x0.9x
Wed, 25 Jan 2023R$4.3tR$4.5tR$628.4b9.9x6.9x1x
Price to Earnings Ratio

6.9x


Total Market Cap: R$4.3tTotal Earnings: R$628.4bTotal Revenue: R$4.5tTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Market Price to Earnings3Y Average 9.5x202420252026
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 12.3x which is higher than its 3-year average PE of 9.5x.
Past Earnings Growth
  • The earnings for companies in the Brazilian industry have declined 14% per year over the last three years.
  • Revenues have also declined 2.6% 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 Market0.25%
Energy5.49%
Materials3.86%
Consumer Staples2.16%
Real Estate0.11%
Financials-0.29%
Industrials-0.84%
Telecom-0.98%
Utilities-2.38%
Consumer Discretionary-2.71%
Tech-2.73%
Healthcare-3.24%
Sector PE
  • Investors favour the Healthcare sector the most for future growth, which is trading above its 3-year average PE ratio of 49.4x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 25.8%, which is higher than its past year's earnings growth of 7.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 27% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Real Estate 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
VALE3 ValeR$78.885.6%
+R$17.8b		44.8%PE11.2xMaterials
B3SA3 B3 - Brasil Bolsa BalcãoR$15.245.4%
+R$4.0b		47.2%PE16.1xFinancials
EMBJ3 EmbraerR$99.303.6%
+R$3.3b		65.8%PE40.2xIndustrials
ABEV3 AmbevR$14.101.4%
+R$3.1b		27.1%PE13.7xConsumer Staples
RADL3 Raia DrogasilR$25.104.8%
+R$2.0b		20.6%PE32.7xConsumer Staples
See more

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Latest News

TIMS3
R$22.88
TIM
7D
2.6%
1Y
54.5%
VIVT3
R$32.47
Telefônica Brasil
7D
-2.8%
1Y
32.3%
SANB11
R$33.10
Banco Santander (Brasil)
7D
-3.0%
1Y
33.1%
RADL3
R$25.10
Raia Drogasil
7D
4.8%
1Y
20.6%

Market Participants Recognise Raia Drogasil S.A.'s (BVMF:RADL3) Earnings

Jan 16
Market Participants Recognise Raia Drogasil S.A.'s (BVMF:RADL3) Earnings
EMBJ3
R$99.30
Embraer
7D
3.6%
1Y
65.8%
GARE11
R$8.94
Guardian Logistica Fundo De Investimento Imobiliario
7D
-0.4%
1Y
9.8%
VALE3
R$78.88
Vale
7D
5.6%
1Y
44.8%
CPFE3
R$51.22
CPFL Energia
7D
-4.3%
1Y
54.1%

CPFL Energia (BVMF:CPFE3) Takes On Some Risk With Its Use Of Debt

Jan 14
CPFL Energia (BVMF:CPFE3) Takes On Some Risk With Its Use Of Debt
RAIL3
R$13.60
Rumo
7D
-8.3%
1Y
-20.3%
ABEV3
R$14.10
Ambev
7D
1.4%
1Y
27.1%

Why We Like The Returns At Ambev (BVMF:ABEV3)

Jan 13
Why We Like The Returns At Ambev (BVMF:ABEV3)
CEGR3
R$53.50
Companhia Distribuidora de Gás do Rio de Janeiro - CEG
7D
-15.1%
1Y
n/a
PRIO3
R$44.17
Prio
7D
3.5%
1Y
3.4%

PRIO3: Higher Margin Focus And Index Inclusion Will Support Future Repricing

Narrative Update Analysts trimmed their price target on Prio from about $55.84 to $54.11, reflecting updated assumptions that pair moderate revenue expectations with higher profit margins and a slightly lower future P/E multiple. Analyst Commentary Analysts updating their models on financials and insurers have been revisiting assumptions on revenue durability, margin resilience, and appropriate P/E levels.
RENT3
R$40.70
Localiza Rent a Car
7D
-5.8%
1Y
33.7%

RENT3: Index Changes And Share Structure Moves Will Support Future Upside

Analysts have reduced their price target on Localiza Rent a Car to R$67.45 from R$68.60, citing updated assumptions for the discount rate, revenue growth, profit margin, and future P/E. What's in the News Localiza Rent a Car S.A., through its Cotas Fund, has been added to multiple Brazilian equity indices, including the Brazil IBRX 50, IBRX, IBOVESPA, Special Tag Along Stock, Special Corporate Governance Stock, and Mid Large Cap indices.
B3SA3
R$15.24
B3 - Brasil Bolsa Balcão
7D
5.4%
1Y
47.2%

B3SA3: Share Buybacks And Equity Swap Structure Will Support Future Upside

Analysts have maintained their fair value estimate for B3 at R$15.91 per share. Small adjustments to inputs such as the discount rate, revenue growth expectations and future P/E assumptions have shaped a more fine tuned view of risk and earnings, rather than resulting in a change to the headline target.
BBAS3
R$21.37
Banco do Brasil
7D
-2.2%
1Y
-15.7%
SBSP3
R$123.66
Companhia de Saneamento Básico do Estado de São Paulo - SABESP
7D
-6.0%
1Y
36.9%