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Brazilian (BOVESPA) Market Analysis & Valuation

UpdatedJun 27, 2026
DataAggregated Company Financials
Companies376
  • 7D2.8%
  • 3M-5.3%
  • 1Y13.6%
  • YTD3.7%

The market has climbed 2.8% in the last 7 days, lead by the Financials sector with a gain of 4.3%. In contrast, the Materials sector is lagging, dropping 3.3%. The market is up 14% over the last 12 months. 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
Sat, 27 Jun 2026R$5.0tR$4.0tR$433.1b9.3x11.6x1.3x
Mon, 25 May 2026R$5.1tR$4.0tR$432.1b9.6x11.8x1.3x
Wed, 22 Apr 2026R$5.7tR$4.0tR$435.6b11.1x13x1.4x
Fri, 20 Mar 2026R$5.3tR$4.0tR$438.7b10x12x1.3x
Sun, 15 Feb 2026R$5.5tR$3.9tR$393.9b10.2x13.9x1.4x
Tue, 13 Jan 2026R$4.9tR$4.2tR$398.7b9.6x12.3x1.2x
Thu, 11 Dec 2025R$4.8tR$4.2tR$401.7b9.6x12x1.1x
Sat, 08 Nov 2025R$4.7tR$5.4tR$568.9b9.3x8.3x0.9x
Mon, 06 Oct 2025R$4.4tR$4.1tR$431.8b8.8x10.3x1.1x
Wed, 03 Sep 2025R$4.4tR$4.2tR$437.5b8.6x10.1x1x
Fri, 01 Aug 2025R$4.2tR$4.2tR$407.2b8.8x10.4x1x
Sun, 29 Jun 2025R$4.4tR$4.2tR$406.0b9.6x10.8x1x
Tue, 27 May 2025R$4.6tR$4.8tR$418.5b9.3x10.9x1x
Thu, 24 Apr 2025R$4.4tR$4.7tR$404.2b8.8x10.8x0.9x
Sat, 22 Mar 2025R$4.4tR$4.6tR$409.1b8.2x10.7x0.9x
Mon, 17 Feb 2025R$4.3tR$4.6tR$469.7b8.6x9.2x0.9x
Wed, 15 Jan 2025R$4.0tR$4.5tR$477.5b8x8.5x0.9x
Fri, 13 Dec 2024R$4.5tR$4.6tR$482.4b8.7x9.3x1x
Sun, 10 Nov 2024R$4.3tR$4.4tR$446.5b9x9.7x1x
Tue, 08 Oct 2024R$4.6tR$4.4tR$428.8b9.7x10.6x1x
Thu, 05 Sep 2024R$4.7tR$4.4tR$427.0b10.3x10.9x1.1x
Sat, 03 Aug 2024R$4.4tR$4.4tR$456.5b9.8x9.6x1x
Mon, 01 Jul 2024R$4.3tR$4.3tR$446.8b9.6x9.7x1x
Wed, 29 May 2024R$4.4tR$4.3tR$444.4b10.1x9.8x1x
Fri, 26 Apr 2024R$4.4tR$4.3tR$458.2b10.2x9.7x1x
Sun, 24 Mar 2024R$4.5tR$4.3tR$452.5b10.3x10x1x
Tue, 20 Feb 2024R$4.6tR$4.3tR$466.1b10.3x9.8x1.1x
Thu, 18 Jan 2024R$4.6tR$4.3tR$476.2b11.5x9.6x1.1x
Sat, 16 Dec 2023R$4.7tR$4.4tR$467.8b11.4x10x1.1x
Mon, 13 Nov 2023R$4.3tR$381.8tR$93.9t10.5x0.05x0.01x
Wed, 11 Oct 2023R$4.2tR$4.5tR$504.4b10.9x8.3x0.9x
Fri, 08 Sep 2023R$4.3tR$4.5tR$506.3b11x8.5x1x
Sun, 06 Aug 2023R$4.5tR$4.6tR$510.4b12.1x8.7x1x
Tue, 04 Jul 2023R$4.5tR$4.6tR$553.5b11.6x8.1x1x
Price to Earnings Ratio

8.1x


Total Market Cap: R$4.5tTotal Earnings: R$553.5bTotal 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 11.6x 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 7.8% 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 Market2.81%
Telecom7.03%
Tech6.12%
Utilities5.18%
Consumer Staples4.94%
Industrials4.60%
Financials4.28%
Healthcare4.06%
Consumer Discretionary3.33%
Real Estate0.92%
Energy-2.25%
Materials-3.28%
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 29.0%, 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 Healthcare sector, expecting annual earnings growth of 29% over the next 5 years.
  • This is better than its past earnings growth rate of 0.5% 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$54.667.9%
+R$19.3b		31.1%PE15.2xFinancials
AXIA3 AXIA EnergiaR$55.627.4%
+R$10.8b		40.1%PE16.6xUtilities
ABEV3 AmbevR$16.734.2%
+R$10.6b		27.2%PE16.7xConsumer Staples
SBSP3 Companhia de Saneamento Básico do Estado de São Paulo - SABESPR$29.609.8%
+R$9.3b		32.7%PE11.9xUtilities
VIVT3 Telefônica BrasilR$34.797.2%
+R$7.4b		14.4%PE17.5xTelecom
See more

Market Insights

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Latest News

CSNA3
R$4.73
Companhia Siderúrgica Nacional
7D
-10.1%
1Y
-36.9%
Narrative Update • Jun 26

CSNA3: Fair Outlook Will Reflect Index Exit And Thinner Margins

Analysts have reduced their fair value estimate for Companhia Siderúrgica Nacional from R$6.50 to R$5.00, citing updated assumptions that include more cautious views on revenue growth and profit margins, as well as a higher discount rate, which together point to a higher future P/E framework for the stock. What’s in the News for Companhia Siderúrgica Nacional Companhia Siderúrgica Nacional was removed from an index, according to a key developments update (source: Key Developments).
SBSP3
R$29.60
Companhia de Saneamento Básico do Estado de São Paulo - SABESP
7D
9.8%
1Y
32.7%
Narrative Update • Jun 26

SBSP3: Higher Discount Rate And Margin Pressure Will Limit Split Appeal

Analysts have revised their price target on Companhia de Saneamento Básico do Estado de São Paulo SABESP to R$26.10 from R$119.86, citing updated assumptions that reflect a higher discount rate, more conservative revenue growth, a lower profit margin outlook and a higher future P/E multiple. What's in the News for Companhia de Saneamento Básico do Estado de São Paulo SABESP Companhia de Saneamento Básico do Estado de São Paulo SABESP has announced a 5-for-1 stock split or significant stock dividend, scheduled for Apr-29-2026.
SANB11
R$26.35
Banco Santander (Brasil)
7D
-2.0%
1Y
-9.6%
Narrative Update • Jun 26

SANB11: Upcoming Leadership Changes And Governance Decisions Will Support Bullish Outlook

Analysts have modestly lifted their price target for Banco Santander (Brasil) to R$35.67 from R$34.46, citing updated assumptions for revenue growth, profit margins, and a slightly lower expected future P/E multiple. What's in the News for Banco Santander (Brasil) Board meeting on March 27, 2026 to decide on the approval of the Administration Proposal to call the Ordinary General Meeting.
VIVT3
R$34.79
Telefônica Brasil
7D
7.2%
1Y
14.4%
Narrative Update • Jun 25

VIVT3: Fiber Merger And Capital Returns Will Support Stronger Outlook

Analysts have trimmed their price target for Telefônica Brasil to R$39.30 from R$40.44. The change reflects updated assumptions for revenue growth, profit margins and future P/E levels, while the discount rate remains unchanged.
AXIA3
R$55.62
AXIA Energia
7D
7.4%
1Y
40.1%
New Narrative • Jun 25

Transmission Expansion And Dequotized Generation Will Support A Stronger Long-Term Earnings Profile

Catalysts About AXIA Energia AXIA Energia is a Brazilian power company engaged in electricity generation, transmission and energy trading. What are the underlying business or industry changes driving this perspective?
BBAS3
R$20.34
Banco do Brasil
7D
4.7%
1Y
-6.4%
Narrative Update • Jun 25

BBAS3: Future Board Actions And Capital Distributions Will Support Bullish Outlook

Analysts have reduced their price target for Banco do Brasil to R$25.71 from R$26.60, citing updated assumptions for revenue growth, profit margins, fair value, and future P/E expectations. What’s in the News for Banco do Brasil Banco do Brasil has scheduled a board meeting on April 27, 2026, to consider and elect officers to complete the 2025 to 2027 term on the bank's executive board.
BPAC11
R$54.66
Banco BTG Pactual
7D
7.9%
1Y
31.1%
Narrative Update • Jun 25

BPAC11: Slightly Higher Fair Value Will Support Future Upside Potential

Analysts have made a minor adjustment to their Banco BTG Pactual price target, lifting fair value slightly from R$65.92 to R$66.00. This reflects updated assumptions for discount rate, revenue growth, profit margin and future P/E that remain broadly consistent with prior expectations.
VALE3
R$78.15
Vale
7D
-3.2%
1Y
47.5%
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$53.29
Prio
7D
-6.8%
1Y
27.3%
Narrative Update • Jun 23

PRIO3: Higher Margin Assumptions Will Shape Future Repricing Potential

Analysts have lifted their fair value estimate for Prio to about R$71 from roughly R$56, citing updated assumptions that combine a lower forward P/E with a higher projected profit margin, while expected revenue growth is moderated. Analyst Commentary Recent research on Prio points to a more constructive stance on valuation, with analysts updating their models and pricing in a different balance between earnings power and growth expectations.
SUZB3
R$40.11
Suzano
7D
-7.2%
1Y
-21.6%
Narrative Update • Jun 19

SUZB3: Expanded Minerals Bylaws And Special Dividends Will Support Upside

The analyst price target for Suzano has been trimmed from R$67.08 to R$65.37 as analysts factor in slightly lower revenue growth, a modestly softer profit margin, and a small adjustment to the assumed future P/E multiple. What’s in the News for Suzano Suzano scheduled a board meeting for June 2, 2026, at 16:30 Coordinated Universal Time to address corporate matters, according to company disclosures.
WEGE3
R$46.90
WEG
7D
3.9%
1Y
10.7%
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.
ENEV3
R$26.81
Eneva
7D
9.5%
1Y
98.4%
Narrative Update • Jun 16

ENEV3: Lower Discount Rate And Richer P E Will Support Upside

Analysts have made a small upward adjustment to Eneva's fair value estimate, moving the target from about R$29.35 to roughly R$29.54. They cited updated assumptions on discount rate, revenue trends, profit margin and future P/E as key inputs to their revised view.
ABEV3
R$16.73
Ambev
7D
4.2%
1Y
27.2%
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.
CMIN3
R$4.25
CSN Mineração
7D
-1.6%
1Y
-12.9%
CBEE3
R$10.15
Ampla Energia e Serviços
7D
-7.6%
1Y
19.3%
ANCR11
R$299.20
Fundo de Investimento Imobiliário - FII Ancar IC
7D
-27.0%
1Y
36.0%