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Brazilian (BOVESPA) Market Analysis & Valuation

UpdatedMay 21, 2026
DataAggregated Company Financials
Companies370
  • 7D-0.7%
  • 3M-9.0%
  • 1Y15.0%
  • YTD5.9%

Over the last 7 days, the market has remained flat, with no particular sector making any big moves this week. More promisingly, the market is up 15% over the past year. 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
Thu, 21 May 2026R$5.1tR$4.0tR$432.7b9.5x11.8x1.3x
Sat, 18 Apr 2026R$5.6tR$4.0tR$435.6b11.2x13x1.4x
Mon, 16 Mar 2026R$5.2tR$4.0tR$447.4b9.7x11.7x1.3x
Wed, 11 Feb 2026R$5.5tR$4.2tR$405.9b10.2x13.5x1.3x
Fri, 09 Jan 2026R$4.9tR$4.2tR$401.8b9.5x12.1x1.2x
Sun, 07 Dec 2025R$4.8tR$4.2tR$401.7b9.5x12x1.1x
Tue, 04 Nov 2025R$4.6tR$4.2tR$433.3b9.2x10.6x1.1x
Thu, 02 Oct 2025R$4.5tR$4.1tR$431.7b8.8x10.4x1.1x
Sat, 30 Aug 2025R$4.4tR$4.2tR$436.7b8.9x10.1x1.1x
Mon, 28 Jul 2025R$4.2tR$4.2tR$405.9b8.8x10.4x1x
Wed, 25 Jun 2025R$4.4tR$4.2tR$406.5b9.4x10.8x1x
Fri, 23 May 2025R$4.5tR$4.8tR$418.9b9.3x10.8x0.9x
Sun, 20 Apr 2025R$4.3tR$4.7tR$401.5b8.6x10.7x0.9x
Tue, 18 Mar 2025R$4.0tR$4.6tR$407.8b8.4x9.9x0.9x
Thu, 13 Feb 2025R$4.3tR$4.6tR$481.8b8.3x8.9x0.9x
Sat, 11 Jan 2025R$4.1tR$4.6tR$481.0b8x8.4x0.9x
Mon, 09 Dec 2024R$4.4tR$4.6tR$482.3b8.7x9x1x
Wed, 06 Nov 2024R$4.4tR$4.4tR$433.3b9.3x10.2x1x
Fri, 04 Oct 2024R$4.6tR$4.4tR$428.8b9.7x10.6x1x
Sun, 01 Sep 2024R$4.7tR$4.4tR$427.6b10.3x11x1.1x
Tue, 30 Jul 2024R$4.4tR$4.4tR$457.3b9.9x9.7x1x
Thu, 27 Jun 2024R$4.3tR$4.3tR$446.7b9.5x9.6x1x
Sat, 25 May 2024R$4.3tR$4.3tR$444.5b10.2x9.8x1x
Mon, 22 Apr 2024R$4.5tR$4.3tR$460.0b10.1x9.7x1x
Wed, 20 Mar 2024R$4.6tR$4.3tR$451.8b10.4x10.1x1.1x
Fri, 16 Feb 2024R$4.5tR$4.3tR$466.5b10.1x9.7x1x
Sun, 14 Jan 2024R$4.7tR$4.3tR$466.9b11.6x10x1.1x
Tue, 12 Dec 2023R$4.5tR$4.4tR$467.8b11x9.7x1x
Thu, 09 Nov 2023R$4.3tR$4.5tR$486.5b10.8x8.9x1x
Sat, 07 Oct 2023R$4.2tR$4.5tR$504.4b10.6x8.3x0.9x
Mon, 04 Sep 2023R$4.3tR$4.5tR$505.8b11.3x8.6x1x
Wed, 02 Aug 2023R$4.5tR$4.6tR$532.5b12.1x8.5x1x
Fri, 30 Jun 2023R$4.4tR$4.6tR$554.1b11.7x8x1x
Sun, 28 May 2023R$4.2tR$4.6tR$554.6b10.9x7.5x0.9x
Price to Earnings Ratio

7.5x


Total Market Cap: R$4.2tTotal Earnings: R$554.6bTotal Revenue: R$4.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Market Price to Earnings3Y Average 10.1x202420252026
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 10.1x.
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 4.7% 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-0.69%
Consumer Staples1.61%
Tech1.18%
Consumer Discretionary-0.46%
Real Estate-0.47%
Telecom-0.53%
Energy-0.53%
Healthcare-0.55%
Financials-0.89%
Utilities-0.95%
Industrials-1.30%
Materials-1.40%
Sector PE
  • Investors favour the Healthcare sector the most for future growth, which is trading close to its 3-year average PE ratio of 51.3x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 24.9% which is higher than its past year's earnings decline of 4.3% per year.
  • The Energy sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 6.2x.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 25% over the next 5 years.
  • This is better than its past earnings decline of 4.3% 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
ABEV3 AmbevR$16.222.9%
+R$7.0b		15.0%PE16.2xConsumer Staples
CXSE3 Caixa Seguridade ParticipaçõesR$17.942.3%
+R$1.2b		18.7%PE12.3xFinancials
SANB11 Banco Santander (Brasil)R$27.451.1%
+R$1.2b		-7.5%PB0.8xFinancials
PRIO3 PrioR$68.632.0%
+R$1.1b		76.1%PE21.4xEnergy
LREN3 Lojas RennerR$14.707.1%
+R$956.8m		-16.8%PE9.6xConsumer Discretionary
See more

Market Insights

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Latest News

CXSE3
R$17.94
Caixa Seguridade Participações
7D
2.3%
1Y
18.7%
Analysis Article • 8h

Industry Analysts Just Made A Substantial Upgrade To Their Caixa Seguridade Participações S.A. (BVMF:CXSE3) Revenue Forecasts

Celebrations may be in order for Caixa Seguridade Participações S.A. ( BVMF:CXSE3 ) shareholders, with the analysts...
PRIO3
R$68.63
Prio
7D
2.0%
1Y
76.1%
CSAN3
R$4.32
Cosan
7D
-7.1%
1Y
-44.2%
Narrative Update • May 19

CSAN3: Higher Margin Outlook Will Drive Bullish R$ Earnings Repricing

Analysts have adjusted their R$ price targets for Cosan, reflecting updated views on discount rates, revenue growth, profit margins, and future P/E assumptions. Together, these factors inform a refreshed stance on the stock's potential risk and earnings profile.
CMIN3
R$4.50
CSN Mineração
7D
-5.7%
1Y
-18.0%
RENT3
R$44.47
Localiza Rent a Car
7D
1.2%
1Y
9.6%
Narrative Update • May 19

RENT3: Higher Future P/E And Margins Will Support Post Downgrade Rerating Potential

Analysts have nudged their fair value estimate for Localiza Rent a Car slightly higher to about R$59.28 per share. The new estimate reflects updated assumptions on discount rates, revenue growth, margins and future P/E, while remaining cautious following recent research commentary.
BRAV3
R$19.75
Brava Energia
7D
8.6%
1Y
8.9%
Narrative Update • May 18

BRAV3: Ecopetrol Bid And Mixed Ratings Will Shape Returns And Risks

Analysts have trimmed their 12 month price target for Brava Energia to R$17.00 from R$17.00, reflecting updated views on higher required returns, softer revenue expectations, stronger profit margins, and a lower assumed future P/E multiple. Analyst Commentary Recent Street research on Brava Energia shows a cautious tone, with several bearish analysts revisiting their ratings and assumptions.
ENEV3
R$25.21
Eneva
7D
-2.9%
1Y
79.4%
Narrative Update • May 15

ENEV3: Improved Margins And P E Reset Will Support Bullish Outlook

Analysts have lifted Eneva's fair value estimate from R$28.02 to R$29.26, citing updated assumptions for a smaller revenue decline, a slightly lower discount rate, a higher profit margin, and a lower future P/E multiple. Valuation Changes Fair Value: R$29.26, up from R$28.02, reflecting the combined impact of the updated assumptions.
BPAC11
R$54.20
Banco BTG Pactual
7D
-2.1%
1Y
36.8%
Narrative Update • May 12

BPAC11: Slightly Lower Discount Rate Will Support Firmer Long Term Outlook

Analysts have nudged their fair value estimate for Banco BTG Pactual slightly higher to R$66.05 from R$65.74, supported by small adjustments to revenue growth, discount rate, and future P/E assumptions, while keeping profit margins broadly in line with prior expectations. Valuation Changes Fair Value: R$66.05 compared with the previous R$65.74, reflecting a very small uplift in the central estimate.
EMBJ3
R$70.38
Embraer
7D
-3.0%
1Y
5.0%
Analysis Article • May 11

Embraer S.A. Just Missed Earnings - But Analysts Have Updated Their Models

Embraer S.A. ( BVMF:EMBJ3 ) shareholders are probably feeling a little disappointed, since its shares fell 6.6% to...
MOTV3
R$15.23
Motiva Infraestrutura de Mobilidade
7D
3.2%
1Y
14.2%
Narrative Update • May 11

MOTV3: April 2026 Meeting Will Support Stronger Future Returns

Analysts have nudged their fair value estimate for Motiva Infraestrutura de Mobilidade slightly higher to R$18.97 from R$18.88, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E levels. What's in the News Motiva Infraestrutura de Mobilidade has scheduled a Special/Extraordinary Shareholders Meeting for April 15, 2026, signaling upcoming shareholder decisions that could affect the company’s structure, governance, or capital allocation (Key Developments).
LREN3
R$14.70
Lojas Renner
7D
7.1%
1Y
-16.8%
Narrative Update • May 09

LREN3: Completed Share Buybacks Will Support Higher Profitability And Future Upside

Analysts have maintained their price target for Lojas Renner at R$22.00. The changes made relate only to fine tuning of the discount rate, revenue growth, profit margin, and future P/E assumptions, which together did not alter the headline number.
ABEV3
R$16.22
Ambev
7D
2.9%
1Y
15.0%
Analysis Article • May 08

Ambev S.A. Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next

Shareholders of Ambev S.A. ( BVMF:ABEV3 ) will be pleased this week, given that the stock price is up 13% to R$16.41...
SANB11
R$27.45
Banco Santander (Brasil)
7D
1.1%
1Y
-7.5%
VALE3
R$82.00
Vale
7D
-1.0%
1Y
51.2%
Narrative Update • May 05

VALE3: Base Metals Mix And Copper Strength Will Drive Future Upside

Analysts have nudged the R$ fair value estimate for Vale higher to R$104.54 from R$101.20. The updated estimate reflects a series of recent price target increases, even as analysts factor in a slightly higher discount rate, more conservative revenue growth, modestly lower profit margins and a higher future P/E assumption.
WEGE3
R$42.58
WEG
7D
-2.6%
1Y
-2.5%
Narrative Update • May 02

WEGE3: Q4 Miss And Guidance Reset Will Support Long-Term Upside Potential

Analysts now see WEG's fair value holding at R$70.00, but the average price target edging down by R$1 to R$49.00 as they factor in the Q4 miss and softer guidance, along with slightly higher discount rates and adjusted growth and margin assumptions. Analyst Commentary The latest update from JPMorgan reflects how recent results and guidance are reshaping the way the market values WEG.
AZUL3
R$32.20
Azul
7D
-32.9%
1Y
n/a