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Brazilian (BOVESPA) Market Analysis & Valuation

UpdatedJul 14, 2026
DataAggregated Company Financials
Companies373
  • 7D2.3%
  • 3M-11.3%
  • 1Y16.9%
  • YTD5.1%

Over the last 7 days, the market has risen 2.3%, driven by gains of 3.7% in the Financials sector. In the last year, the market has climbed 17%. 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
Wed, 15 Jul 2026R$5.1tR$4.0tR$433.0b9.3x11.8x1.3x
Fri, 12 Jun 2026R$5.0tR$4.0tR$432.8b9.4x11.5x1.2x
Sun, 10 May 2026R$5.3tR$4.0tR$436.6b10.3x12.1x1.3x
Tue, 07 Apr 2026R$5.5tR$4.0tR$437.0b10.6x12.5x1.4x
Thu, 05 Mar 2026R$5.4tR$4.0tR$410.2b10.2x13.1x1.3x
Sat, 31 Jan 2026R$5.4tR$4.2tR$398.3b10.3x13.6x1.3x
Mon, 29 Dec 2025R$4.8tR$4.2tR$401.6b9.8x12x1.1x
Wed, 26 Nov 2025R$4.8tR$4.2tR$412.5b9.3x11.6x1.1x
Fri, 24 Oct 2025R$4.5tR$4.2tR$432.3b9.1x10.3x1.1x
Sun, 21 Sep 2025R$4.6tR$4.2tR$435.3b9x10.5x1.1x
Tue, 19 Aug 2025R$4.4tR$4.2tR$443.0b8.6x9.8x1x
Thu, 17 Jul 2025R$4.3tR$4.2tR$404.6b8.9x10.6x1x
Sat, 14 Jun 2025R$4.4tR$4.2tR$406.6b9.3x10.9x1x
Mon, 12 May 2025R$4.5tR$4.7tR$415.4b9.1x10.8x1x
Wed, 09 Apr 2025R$4.2tR$4.7tR$403.4b8.2x10.3x0.9x
Fri, 07 Mar 2025R$4.1tR$4.6tR$410.5b8x10.1x0.9x
Sun, 02 Feb 2025R$4.3tR$4.6tR$475.2b8.6x9x0.9x
Tue, 31 Dec 2024R$4.1tR$4.6tR$480.6b8.2x8.5x0.9x
Thu, 28 Nov 2024R$4.5tR$4.6tR$483.0b9.1x9.2x1x
Sat, 26 Oct 2024R$4.5tR$4.4tR$427.7b9.7x10.5x1x
Mon, 23 Sep 2024R$4.5tR$4.4tR$427.9b10x10.6x1x
Wed, 21 Aug 2024R$4.7tR$4.4tR$428.7b10.4x11x1.1x
Fri, 19 Jul 2024R$4.4tR$4.3tR$446.2b10x10x1x
Sun, 16 Jun 2024R$4.2tR$4.3tR$446.3b9.6x9.5x1x
Tue, 14 May 2024R$4.5tR$4.4tR$428.3b10.2x10.5x1x
Thu, 11 Apr 2024R$4.6tR$4.3tR$460.0b10.6x9.9x1x
Sat, 09 Mar 2024R$4.6tR$4.4tR$460.5b10.6x9.9x1x
Mon, 05 Feb 2024R$4.5tR$4.3tR$467.8b11.1x9.7x1x
Wed, 03 Jan 2024R$4.7tR$4.4tR$467.5b11.6x10x1.1x
Fri, 01 Dec 2023R$4.5tR$4.4tR$468.5b11.1x9.5x1x
Sun, 29 Oct 2023R$4.2tR$4.5tR$488.4b10.4x8.5x0.9x
Tue, 26 Sep 2023R$4.2tR$4.5tR$504.4b10.7x8.4x0.9x
Thu, 24 Aug 2023R$4.4tR$4.5tR$502.6b11.4x8.7x1x
Sat, 22 Jul 2023R$4.5tR$4.6tR$553.3b11.9x8.1x1x
Price to Earnings Ratio

8.1x


Total Market Cap: R$4.5tTotal Earnings: R$553.3bTotal 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 11.8x 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 Market2.32%
Energy5.38%
Consumer Discretionary3.77%
Financials3.73%
Tech2.22%
Consumer Staples2.07%
Healthcare1.95%
Utilities1.51%
Real Estate0.88%
Telecom0.78%
Industrials-0.89%
Materials-0.95%
Sector PE
  • Investors favour the Healthcare sector the most for future growth, which is trading above its 3-year average PE ratio of 51.0x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 28.7%, 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 6.4x.
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$57.956.2%
+R$16.4b		44.0%PE16.1xFinancials
SANB11 Banco Santander (Brasil)R$27.345.1%
+R$5.0b		-1.7%PB0.8xFinancials
BBAS3 Banco do BrasilR$20.594.4%
+R$4.9b		-1.5%PB0.6xFinancials
B3SA3 B3 - Brasil Bolsa BalcãoR$15.335.5%
+R$4.0b		11.7%PE15.5xFinancials
VIVT3 Telefônica BrasilR$35.523.5%
+R$3.9b		13.6%PE17.8xTelecom
See more

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Latest News

AXIA3
R$52.63
AXIA Energia
7D
-1.4%
1Y
34.0%
Narrative Update • Jul 13

AXIA3: Fair Outlook Balances Governance Changes And Tariff Ruling Risk

Analysts have lifted their price target on AXIA Energia to R$53.96 from R$50.80, citing updated assumptions around slightly softer revenue declines, a small improvement in profit margins, and a higher future P/E multiple. What’s in the News AXIA Energia SA changed its corporate name from Brazilian Electric Power Company on April 15, 2026, with related bylaw changes approved at an extraordinary general meeting.
SANB11
R$27.34
Banco Santander (Brasil)
7D
5.1%
1Y
-1.7%
Narrative Update • Jul 10

SANB11: Succession Plan And Leadership Change Will Support Bullish Repricing

Analysts have adjusted their price target for Banco Santander (Brasil) to R$44.00 from R$42.90, reflecting updated views on fair value, discount rate assumptions, revenue growth of 36.04% and a profit margin of 19.16%, along with a future P/E of 14.08x. What's in the News Board of Directors meeting on June 30, 2026, to consider and approve Banco Santander (Brasil)'s succession plan, including the exoneration of Chief Executive Officer Mario Roberto Opice Leão and the confirmation of Gilson Finkelsztain as Chief Executive Officer, effective July 1, 2026.
VIVT3
R$35.52
Telefônica Brasil
7D
3.5%
1Y
13.6%
Narrative Update • Jul 09

VIVT3: Upcoming FiBrasil Merger And Dividend Plans Will Support Upside

Analysts have adjusted the Telefônica Brasil price target slightly higher to about R$48.92 from roughly R$47.65, citing updated assumptions for revenue growth, profit margins and future P/E levels. What’s in the News for Telefônica Brasil Board meeting on Apr 15, 2026 to consider a proposal for the declaration of interest on capital.
EGIE3
R$32.27
Engie Brasil Energia
7D
-1.5%
1Y
8.3%
Narrative Update • Jul 09

EGIE3: Follow-On Offering And Jirau Share Integration Will Support Upside

Analysts have raised their price target for Engie Brasil Energia to about R$41.94 from roughly R$38.44. They attribute this change to updated assumptions around revenue growth, profit margin, discount rate and a lower future P/E multiple that support the new valuation.
BBAS3
R$20.59
Banco do Brasil
7D
4.4%
1Y
-1.5%
Narrative Update • Jul 09

BBAS3: Adjusted Margins And Capital Distributions Will Likely Support Current Pricing

Analysts have trimmed their fair value estimate for Banco do Brasil, with the indicative price target moving from R$21.00 to R$20.00 as they reassess assumptions around future revenue growth, profit margins and the forward P/E profile. What’s in the News for Banco do Brasil Banco do Brasil has scheduled a board meeting on May 11, 2026 to consider distributing BRL 465,702,640.04 to shareholders as interest on own share capital for the first quarter of 2026.
VALE3
R$74.01
Vale
7D
-2.9%
1Y
37.3%
B3SA3
R$15.33
B3 - Brasil Bolsa Balcão
7D
5.5%
1Y
11.7%
Narrative Update • Jul 08

B3SA3: Governance Changes And Updated Assumptions Will Shape A Fairly Valued Outlook

Analysts have nudged their fair value estimate for B3 - Brasil Bolsa Balcão slightly higher from R$15.00 to about R$15.49, citing updated assumptions around growth, profitability, discount rate, and future P/E levels. What's in the News for B3 - Brasil Bolsa Balcão A board meeting is scheduled for May 07, 2026 to consider approval of B3 - Brasil Bolsa Balcão financial statements for the first quarter of 2026, based on support material and the audit committee's recommendation, with review by Deloitte Touche Tohmatsu Auditores Independentes Ltda.
EMBJ3
R$82.49
Embraer
7D
-3.3%
1Y
11.4%
BBSE3
R$40.39
BB Seguridade Participações
7D
4.8%
1Y
15.6%
DIRR3
R$12.99
Direcional Engenharia
7D
-3.1%
1Y
-4.4%
Analysis Article • Jun 27

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BPAC11
R$57.95
Banco BTG Pactual
7D
6.2%
1Y
44.0%
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.
CXSE3
R$22.11
Caixa Seguridade Participações
7D
5.8%
1Y
53.0%
Narrative Update • Jun 24

CXSE3: Future Returns Will Rely On Revenue Momentum And P E Support

Analysts have nudged their fair value estimate for Caixa Seguridade Participações slightly higher to about R$19.59, reflecting updated assumptions around revenue growth, profit margin and future P/E multiples. What’s in the News for Caixa Seguridade Participações No recent news items for Caixa Seguridade Participações were identified in the provided sources.
WEGE3
R$44.20
WEG
7D
-3.6%
1Y
11.4%
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.
ABEV3
R$15.81
Ambev
7D
1.3%
1Y
19.1%
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.
MRSA3B
R$39.80
MRS Logística
7D
-4.3%
1Y
50.2%
AZUL3
R$21.96
Azul
7D
-5.7%
1Y
n/a