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Brazilian (BOVESPA) Market Analysis & Valuation

UpdatedMar 14, 2026
DataAggregated Company Financials
Companies371
  • 7D-1.1%
  • 3M6.2%
  • 1Y24.1%
  • YTD8.5%

Over the last 7 days, the market has dropped 1.1%, driven by a loss of 1.6% in the Financials sector. In contrast, the Energy sector has actually gained 5.2%. In contrast to the last week, the market is actually up 24% over the past year. Earnings are forecast to grow by 12% 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, 14 Mar 2026R$5.2tR$4.0tR$451.5b9.7x11.6x1.3x
Mon, 09 Feb 2026R$5.4tR$4.2tR$404.1b9.9x13.3x1.3x
Wed, 07 Jan 2026R$4.8tR$4.2tR$401.2b9.6x12x1.2x
Fri, 05 Dec 2025R$5.0tR$4.2tR$402.2b10x12.4x1.2x
Sun, 02 Nov 2025R$4.6tR$4.2tR$433.8b9.4x10.6x1.1x
Tue, 30 Sep 2025R$4.5tR$4.1tR$431.6b9x10.5x1.1x
Thu, 28 Aug 2025R$4.4tR$4.2tR$436.5b8.7x10x1x
Sat, 26 Jul 2025R$4.2tR$4.2tR$405.9b8.8x10.4x1x
Mon, 23 Jun 2025R$4.4tR$4.2tR$406.5b9.2x10.8x1x
Wed, 21 May 2025R$4.6tR$4.8tR$419.7b9.4x11x1x
Fri, 18 Apr 2025R$4.3tR$4.7tR$401.5b8.6x10.7x0.9x
Sun, 16 Mar 2025R$4.3tR$4.6tR$419.7b8.3x10.2x0.9x
Tue, 11 Feb 2025R$4.2tR$4.6tR$481.4b8.3x8.7x0.9x
Thu, 09 Jan 2025R$4.1tR$4.6tR$481.0b8.1x8.5x0.9x
Sat, 07 Dec 2024R$4.4tR$4.6tR$482.3b8.7x9.1x1x
Mon, 04 Nov 2024R$4.4tR$4.4tR$432.7b9.2x10.1x1x
Wed, 02 Oct 2024R$4.6tR$4.4tR$428.8b9.7x10.7x1x
Fri, 30 Aug 2024R$4.7tR$4.4tR$427.6b10.3x11.1x1.1x
Sun, 28 Jul 2024R$4.4tR$4.4tR$459.1b9.9x9.7x1x
Tue, 25 Jun 2024R$4.3tR$4.3tR$446.7b9.5x9.6x1x
Thu, 23 May 2024R$4.4tR$4.3tR$444.5b10.2x10x1x
Sat, 20 Apr 2024R$4.4tR$4.3tR$460.5b10.1x9.6x1x
Mon, 18 Mar 2024R$4.5tR$4.3tR$451.8b10.3x10x1x
Wed, 14 Feb 2024R$4.6tR$4.3tR$466.5b10.1x9.8x1x
Fri, 12 Jan 2024R$4.6tR$4.3tR$467.0b11.6x10x1.1x
Sun, 10 Dec 2023R$4.5tR$4.4tR$467.7b11.1x9.7x1x
Tue, 07 Nov 2023R$4.3tR$4.5tR$488.9b10.5x8.7x0.9x
Thu, 05 Oct 2023R$4.2tR$4.5tR$504.4b10.7x8.3x0.9x
Sat, 02 Sep 2023R$4.3tR$4.5tR$505.2b11.2x8.6x1x
Mon, 31 Jul 2023R$4.5tR$4.6tR$548.2b12x8.2x1x
Wed, 28 Jun 2023R$4.4tR$4.6tR$554.1b11.5x7.9x1x
Fri, 26 May 2023R$4.1tR$4.6tR$554.3b10.4x7.5x0.9x
Sun, 23 Apr 2023R$4.0tR$4.6tR$594.7b9.8x6.7x0.9x
Tue, 21 Mar 2023R$3.8tR$4.5tR$609.5b9.1x6.2x0.8x
Price to Earnings Ratio

6.2x


Total Market Cap: R$3.8tTotal Earnings: R$609.5bTotal Revenue: R$4.5tTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Market Price to Earnings3Y Average 9.8x202420252026
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 9.8x.
Past Earnings Growth
  • The earnings for companies in the Brazilian industry have declined 9.5% per year over the last three years.
  • Revenues have also declined 3.8% 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-1.10%
Energy5.16%
Utilities-0.59%
Telecom-1.41%
Financials-1.64%
Tech-1.93%
Consumer Staples-1.97%
Materials-2.16%
Real Estate-2.37%
Industrials-3.43%
Consumer Discretionary-3.75%
Healthcare-4.79%
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 51.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 23.7%, which is higher than its past year's earnings growth of 7.1% per year.
  • The Energy sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 6.0x.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 26% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Energy sector is expected to see its earnings decline by 3.8% 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
BBSE3 BB Seguridade ParticipaçõesR$35.052.5%
+R$1.7b		-12.0%PE7.5xFinancials
CXSE3 Caixa Seguridade ParticipaçõesR$18.143.0%
+R$1.6b		14.4%PE12.7xFinancials
RAIL3 RumoR$16.265.0%
+R$1.4b		-9.7%PE35.6xIndustrials
CPFE3 CPFL EnergiaR$48.151.6%
+R$864.2m		28.6%PE10.1xUtilities
SLCE3 SLC AgrícolaR$18.009.8%
+R$799.1m		8.8%PE16.1xConsumer Staples
See more

Market Insights

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Latest News

VBBR3
R$29.39
Vibra Energia
7D
-3.8%
1Y
79.6%
SLCE3
R$18.00
SLC Agrícola
7D
9.8%
1Y
8.8%
PRIO3
R$57.80
Prio
7D
-2.7%
1Y
46.9%
AZZA3
R$27.52
Azzas 2154
7D
12.1%
1Y
28.0%

AZZA3: Adjusted Assumptions Will Still Support Future Upside Potential

Analysts have trimmed their price target for Azzas 2154 by R$1 to R$35.31, reflecting slightly adjusted assumptions on discount rate, revenue growth, profit margins and future P/E. Valuation Changes Fair Value: model fair value moved from R$36.31 to R$35.31, a reduction of about 2.8%.
CPFE3
R$48.15
CPFL Energia
7D
1.6%
1Y
28.6%
RDOR3
R$36.60
Rede D'Or São Luiz
7D
-4.7%
1Y
29.2%

RDOR3: Higher Fair Value And Richer Future P/E Will Support Repricing

Analysts have adjusted their price target for Rede D'Or São Luiz slightly higher to R$51.02 from R$50.59, citing updated assumptions on long term revenue growth, profit margins, and future P/E expectations. Valuation Changes Fair Value: Adjusted slightly higher to R$51.02 from R$50.59.
EMBJ3
R$73.86
Embraer
7D
-7.8%
1Y
-1.4%
RAIL3
R$16.26
Rumo
7D
5.0%
1Y
-9.7%
BPAC11
R$55.11
Banco BTG Pactual
7D
-1.6%
1Y
62.4%

BPAC11: Slightly Higher Fair Value Will Support Constructive Long Term Outlook

Analysts have inched their price target for Banco BTG Pactual higher to R$63.97 from R$63.89, reflecting small tweaks to assumptions on discount rate, revenue growth, profit margin and future P/E that keep the overall valuation framework largely intact. Valuation Changes Fair Value: R$63.89 to R$63.97, a very small upward adjustment.
ABEV3
R$15.00
Ambev
7D
-1.5%
1Y
10.0%
LREN3
R$15.06
Lojas Renner
7D
2.0%
1Y
25.2%

LREN3: Lower Assumed P/E Multiple Will Support Future Share Price Upside

Analysts have slightly reduced their price target for Lojas Renner, with fair value moving from about R$19.10 to roughly R$18.97. This adjustment reflects updated assumptions around revenue growth, profit margins and a somewhat lower future P/E.
VIVT3
R$40.64
Telefônica Brasil
7D
-2.0%
1Y
58.9%

VIVT3: Buyback Program And Capital Changes Will Support Steady Future Returns

Analysts have nudged their price target on Telefônica Brasil slightly higher to R$38.27 from R$37.77, reflecting updated assumptions for revenue growth, profit margins and future P/E expectations. What's in the News Telefônica Brasil approved a new share repurchase program that allows the company to buy back up to 42,861,656 common shares, or 5.81% of its issued share capital, valid until February 22, 2027, funded by statutory profit reserves and current year results (Key Developments).
CXSE3
R$18.14
Caixa Seguridade Participações
7D
3.0%
1Y
14.4%

CXSE3: Future Returns Will Depend On Margins And P E Expectations Remaining Firm

Analysts have nudged their price target for Caixa Seguridade Participações slightly higher from R$18.57 to R$18.68, supported by updated assumptions for revenue growth, profit margins, and future P/E levels. Valuation Changes Fair Value: R$18.57 to R$18.68, a small upward adjustment in the modeled estimate.
SANB11
R$30.22
Banco Santander (Brasil)
7D
-4.1%
1Y
15.2%
BBSE3
R$35.05
BB Seguridade Participações
7D
2.5%
1Y
-12.0%

BBSE3: Higher Margin Outlook Will Offset Downgrade Concerns And Support Fair Pricing

Narrative Update on BB Seguridade Participações Analysts have trimmed their price target on BB Seguridade Participações from R$38.00 to R$37.75, citing updated assumptions that pair more cautious revenue growth expectations with slightly higher projected profit margins and a modestly higher future P/E. Analyst Commentary Recent commentary around the revised R$37.75 price target gives you a mixed but useful picture of how the market is thinking about BB Seguridade Participações right now.
BBAS3
R$23.81
Banco do Brasil
7D
-3.8%
1Y
-14.6%

BBAS3: Higher Margin Assumptions Will Likely Fail To Justify Current Pricing

Analysts have lifted their price target for Banco do Brasil from R$20.00 to R$21.00, pointing to updated assumptions that include a slightly lower discount rate, an adjusted revenue outlook, a higher projected profit margin, and a reduced future P/E multiple. Valuation Changes Fair Value: R$20.00 to R$21.00, a modest uplift in the assessed share value.