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Brazilian (BOVESPA) Market Analysis & Valuation

UpdatedAug 15, 2026
DataAggregated Company Financials
Companies496
  • 7D-3.3%
  • 3M-6.3%
  • 1Y9.8%
  • YTD-1.0%

Over the last 7 days, the market has dropped 3.3%, driven by a loss of 4.5% in the Financials sector. In the last year, the market is actually up 9.8%. As for the next few years, earnings are expected to grow by 12% 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
Sun, 16 Aug 2026R$4.8tR$4.1tR$468.8b8.3x10.3x1.2x
Tue, 14 Jul 2026R$5.1tR$4.0tR$433.0b9.3x11.8x1.3x
Thu, 11 Jun 2026R$4.9tR$4.0tR$432.8b9.2x11.4x1.2x
Sat, 09 May 2026R$5.3tR$4.0tR$436.6b10.3x12.1x1.3x
Mon, 06 Apr 2026R$5.5tR$4.0tR$435.3b10.5x12.6x1.4x
Wed, 04 Mar 2026R$5.5tR$4.0tR$410.8b10x13.5x1.4x
Fri, 30 Jan 2026R$5.5tR$4.2tR$398.3b10.3x13.7x1.3x
Sun, 28 Dec 2025R$4.8tR$4.2tR$401.6b9.8x12x1.1x
Tue, 25 Nov 2025R$4.8tR$4.2tR$412.4b9.4x11.5x1.1x
Thu, 23 Oct 2025R$4.4tR$4.2tR$432.3b9x10.3x1.1x
Sat, 20 Sep 2025R$4.6tR$4.2tR$435.3b9x10.5x1.1x
Mon, 18 Aug 2025R$4.3tR$4.2tR$443.7b8.6x9.7x1x
Wed, 16 Jul 2025R$4.3tR$4.2tR$404.6b9x10.6x1x
Fri, 13 Jun 2025R$4.4tR$4.2tR$405.7b9.4x10.9x1.1x
Sun, 11 May 2025R$4.5tR$4.7tR$414.8b9.1x10.8x1x
Tue, 08 Apr 2025R$4.2tR$4.7tR$403.5b8.2x10.3x0.9x
Thu, 06 Mar 2025R$4.1tR$4.6tR$410.5b8x10x0.9x
Sat, 01 Feb 2025R$4.3tR$4.6tR$475.2b8.6x9x0.9x
Mon, 30 Dec 2024R$4.1tR$4.6tR$480.9b8.3x8.5x0.9x
Wed, 27 Nov 2024R$4.4tR$4.6tR$482.8b9.4x9.2x1x
Fri, 25 Oct 2024R$4.5tR$4.4tR$428.2b9.7x10.5x1x
Sun, 22 Sep 2024R$4.5tR$4.4tR$427.9b10x10.6x1x
Tue, 20 Aug 2024R$4.7tR$4.4tR$426.8b10.4x11x1.1x
Thu, 18 Jul 2024R$4.5tR$4.3tR$446.2b10.1x10.1x1x
Sat, 15 Jun 2024R$4.2tR$4.3tR$446.3b9.6x9.5x1x
Mon, 13 May 2024R$4.5tR$4.4tR$427.7b10.2x10.5x1x
Wed, 10 Apr 2024R$4.6tR$4.3tR$459.5b10.6x10.1x1.1x
Fri, 08 Mar 2024R$4.6tR$4.4tR$460.6b10.4x10x1.1x
Sun, 04 Feb 2024R$4.5tR$4.3tR$467.8b11.1x9.7x1x
Tue, 02 Jan 2024R$4.8tR$4.4tR$466.9b11.9x10.2x1.1x
Thu, 30 Nov 2023R$4.5tR$4.3tR$468.4b10.8x9.6x1x
Sat, 28 Oct 2023R$4.2tR$4.5tR$488.4b10.4x8.5x0.9x
Mon, 25 Sep 2023R$4.2tR$4.5tR$504.4b10.9x8.4x0.9x
Wed, 23 Aug 2023R$4.3tR$4.5tR$503.6b11.1x8.6x1x
Price to Earnings Ratio

8.6x


Total Market Cap: R$4.3tTotal Earnings: R$503.6bTotal Revenue: R$4.5tTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Market Price to Earnings3Y Average 10.4x202420252026
Current Market PE
  • Investors are relatively neutral on the Brazilian market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 10.4x.
Past Earnings Growth
  • The earnings for companies in the Brazilian industry have declined 2.4% per year over the last three years.
  • Revenues have also declined 3.3% 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 Market-3.28%
Energy2.88%
Industrials-1.75%
Real Estate-2.32%
Telecom-2.85%
Healthcare-3.16%
Consumer Discretionary-3.16%
Materials-3.52%
Tech-3.99%
Financials-4.48%
Consumer Staples-4.75%
Utilities-6.23%
Sector PE
  • Investors favour the Healthcare sector the most for future growth even though it's trading below its 3-year average PE ratio of 50.6x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 22.8%, which is higher than its past year's earnings growth of 16.7% per year.
  • The Energy sector is the least preferred by investors for future growth, which is trading below its 3-year average of 6.4x.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 23% over the next 5 years.
  • This is better than its past earnings growth rate of 17% per year.
  • In contrast, the Energy sector is expected to see its earnings decline by 4.7% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
EMBJ3 EmbraerR$99.027.0%
+R$4.6b		28.1%PE30.3xIndustrials
SANB11 Banco Santander (Brasil)R$29.932.3%
+R$2.5b		11.1%PB0.9xFinancials
UGPA3 Ultrapar ParticipaçõesR$32.273.2%
+R$1.1b		83.5%PE9.5xConsumer Discretionary
PRIO3 PrioR$58.632.1%
+R$941.9m		51.1%PE12.1xEnergy
SIMH3 SIMPARR$6.16-12.5%
R$591.3m		-27.9%PS0.08xIndustrials
See more

Market Insights

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Investing in a theme primarily based on demand could come unstuck. As the European heatwave has shown, adoption can be far more complicated than whether a product is needed, which is exactly the part investors tend to skip.
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Latest News

SIMH3
R$6.16
SIMPAR
7D
-12.5%
1Y
-27.9%
CMIN3
R$5.54
CSN Mineração
7D
1.7%
1Y
14.9%
SBSP3
R$23.79
Companhia de Saneamento Básico do Estado de São Paulo - SABESP
7D
-11.5%
1Y
5.3%
RENT3
R$33.51
Localiza Rent a Car
7D
-11.4%
1Y
-2.1%
UGPA3
R$32.27
Ultrapar Participações
7D
3.2%
1Y
83.5%
Narrative Update • Aug 14

UGPA3: Q2 Results Dividend And Buyback Will Guide Balanced Rerating Potential

Analysts have nudged their fair value estimate for Ultrapar Participações higher to about R$34.21 from roughly R$33.21, citing a more attractive risk reward profile, recent price target revisions, and updated assumptions for revenue growth, margins, and future P/E multiples. Analyst Commentary Recent research on Ultrapar Participações shows a mix of optimism and caution, with multiple firms updating their models, ratings, and price targets ahead of and around the Q2 results.
BBAS3
R$18.38
Banco do Brasil
7D
-8.4%
1Y
-11.0%
SUZB3
R$42.03
Suzano
7D
0.8%
1Y
-21.2%
PRIO3
R$58.63
Prio
7D
2.1%
1Y
51.1%
EMBJ3
R$99.02
Embraer
7D
7.0%
1Y
28.1%
Analysis Article • Aug 13

Embraer S.A. (BVMF:EMBJ3) Released Earnings Last Week And Analysts Lifted Their Price Target To R$101

It's been a good week for Embraer S.A. ( BVMF:EMBJ3 ) shareholders, because the company has just released its latest...
AXIA3
R$49.83
AXIA Energia
7D
-6.1%
1Y
12.6%
Narrative Update • Aug 12

AXIA3: Preferred Share Redemption In 2026 Will Drive Future Upside Potential

Analysts have lifted the AXIA Energia price target from R$68.51 to about R$70.15, reflecting updated assumptions for fair value, discount rate, revenue, profit margins and future P/E estimates. What's in the News for AXIA Energia The Board of Directors approved the redemption of 37,237,014 Class C Preferred Shares (PNC) for BRL 2,000 million at BRL 53.71 per share, with an alternative for holders to convert PNC into common shares on a 1 to 1 basis in August 2026.
VALE3
R$71.30
Vale
7D
-4.9%
1Y
33.7%
BPAC11
R$51.00
Banco BTG Pactual
7D
-5.4%
1Y
14.7%
RADL3
R$17.53
Raia Drogasil
7D
-13.3%
1Y
2.4%
Narrative Update • Aug 08

RADL3: Higher Margin Outlook Will Support Bullish Long Term Repricing

Analysts lowered their price target for Raia Drogasil from R$32.00 to R$31.00, citing updated assumptions that now reflect slightly different discount rates, revenue growth, profit margins, and future P/E expectations. What's in the News No recent news items for Raia Drogasil were identified in the provided sources as of 6 Aug 2026.
SANB11
R$29.93
Banco Santander (Brasil)
7D
2.3%
1Y
11.1%
Narrative Update • Aug 07

SANB11: Upcoming Governance Shakeup Will Support Bullish Long-Term Outlook

Analysts have adjusted their price target for Banco Santander (Brasil) to R$34.43 from R$35.67, reflecting updated assumptions for revenue growth, profit margins and an increased projected P/E multiple. What’s in the News for Banco Santander (Brasil) Banco Santander, S.A. proposed to acquire an additional 10.34% stake in Banco Santander (Brasil) S.A. for up to €1.9b through voluntary exchange tender offers, with new shares of Banco Santander, S.A. to be issued as consideration.
ABEV3
R$14.75
Ambev
7D
-4.7%
1Y
22.5%
Narrative Update • Aug 06

ABEV3: Tougher Post World Cup Comparisons Will Constrain Future Rerating Potential

Analysts have nudged their fair value estimate for Ambev slightly higher to R$13.00 from R$12.50, reflecting updated assumptions on revenue growth, profit margins and future P/E, while weighing recent mixed rating actions and cautious commentary on tougher comparisons ahead. Analyst Commentary Recent research on Ambev highlights a split view, with some bearish analysts turning more cautious even as others remain constructive.
GMAT3
R$3.98
Grupo Mateus
7D
6.7%
1Y
-43.5%
Narrative Update • Jul 30

GMAT3: Higher Future P/E Assumptions Will Support Bullish Earnings Rerating

Analysts have trimmed their price expectations for Grupo Mateus, lowering the implied fair value by roughly R$1.00 per share as they factor in updated assumptions for revenue growth, profit margins and a higher future P/E multiple. What's in the News There are currently no recent public news items on Grupo Mateus in the provided sources, so investors may want to rely on the latest company filings and earnings materials for updates.