New Risk • Jun 10
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: R$505.4m (US$97.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (R$505.4m market cap, or US$97.5m). Announcement • Apr 06
Technos S.A., Annual General Meeting, Apr 30, 2026 Technos S.A., Annual General Meeting, Apr 30, 2026. Reported Earnings • Mar 13
Full year 2025 earnings released Full year 2025 results: Revenue: R$478.4m (up 20% from FY 2024). Net income: R$71.5m (up 10% from FY 2024). Profit margin: 15% (down from 16% in FY 2024). The decrease in margin was driven by higher expenses. Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: R$0.31 (vs R$0.20 in 3Q 2024) Third quarter 2025 results: EPS: R$0.31 (up from R$0.20 in 3Q 2024). Revenue: R$107.8m (up 14% from 3Q 2024). Net income: R$18.8m (up 46% from 3Q 2024). Profit margin: 17% (up from 14% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 13
Second quarter 2025 earnings released: EPS: R$0.30 (vs R$0.29 in 2Q 2024) Second quarter 2025 results: EPS: R$0.30. Revenue: R$121.9m (up 23% from 2Q 2024). Net income: R$19.1m (down 4.9% from 2Q 2024). Profit margin: 16% (down from 20% in 2Q 2024). The decrease in margin was driven by higher expenses. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: R$0.071 (vs R$0.085 in 1Q 2024) First quarter 2025 results: EPS: R$0.071 (down from R$0.085 in 1Q 2024). Revenue: R$86.7m (up 26% from 1Q 2024). Net income: R$4.49m (down 24% from 1Q 2024). Profit margin: 5.2% (down from 8.5% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 36% per year. Announcement • Apr 01
Technos S.A., Annual General Meeting, Apr 30, 2025 Technos S.A., Annual General Meeting, Apr 30, 2025. New Risk • Mar 16
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 4.5% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (R$336.4m market cap, or US$58.6m). Reported Earnings • Mar 12
Full year 2024 earnings released: EPS: R$0.98 (vs R$0.80 in FY 2023) Full year 2024 results: EPS: R$0.98 (up from R$0.80 in FY 2023). Revenue: R$400.3m (up 17% from FY 2023). Net income: R$64.8m (up 15% from FY 2023). Profit margin: 16% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 34% per year whereas the company’s share price has increased by 32% per year. Reported Earnings • Nov 13
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: R$94.7m (up 18% from 3Q 2023). Net income: R$12.9m (flat on 3Q 2023). Profit margin: 14% (down from 16% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Board Change • Sep 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. Independent Director Rafael De Morsch was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: R$0.29 (vs R$0.21 in 2Q 2023) Second quarter 2024 results: EPS: R$0.29 (up from R$0.21 in 2Q 2023). Revenue: R$99.6m (up 14% from 2Q 2023). Net income: R$20.1m (up 33% from 2Q 2023). Profit margin: 20% (up from 17% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. New Risk • Jul 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Brazilian stocks, typically moving 8.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.4% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (R$334.1m market cap, or US$59.1m). Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to R$5.40, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 9x in the Luxury industry in Brazil. Total returns to shareholders of 107% over the past three years. Reported Earnings • May 14
First quarter 2024 earnings released: EPS: R$0.086 (vs R$0.042 in 1Q 2023) First quarter 2024 results: EPS: R$0.086 (up from R$0.042 in 1Q 2023). Revenue: R$68.8m (up 8.3% from 1Q 2023). Net income: R$5.87m (up 95% from 1Q 2023). Profit margin: 8.5% (up from 4.7% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to R$5.00, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 9x in the Luxury industry in Brazil. Total returns to shareholders of 163% over the past three years. New Risk • Mar 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Brazilian stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.4% average weekly change). Market cap is less than US$100m (R$299.7m market cap, or US$60.2m). Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to R$3.76, the stock trades at a trailing P/E ratio of 4.6x. Average trailing P/E is 10x in the Luxury industry in Brazil. Total returns to shareholders of 177% over the past three years. Reported Earnings • Mar 06
Full year 2023 earnings released: EPS: R$0.80 (vs R$0.54 in FY 2022) Full year 2023 results: EPS: R$0.80 (up from R$0.54 in FY 2022). Revenue: R$342.3m (down 2.5% from FY 2022). Net income: R$56.2m (up 41% from FY 2022). Profit margin: 16% (up from 11% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 08
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: R$80.4k (down 100% from 3Q 2022). Net income: R$13.0k (down 100% from 3Q 2022). Profit margin: 16% (up from 10% in 3Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 09
Second quarter 2023 earnings released: EPS: R$0.21 (vs R$0.19 in 2Q 2022) Second quarter 2023 results: EPS: R$0.21 (up from R$0.19 in 2Q 2022). Revenue: R$87.4m (down 8.2% from 2Q 2022). Net income: R$15.1m (up 2.6% from 2Q 2022). Profit margin: 17% (up from 16% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Aug 01
Now 21% undervalued Over the last 90 days, the stock is up 20%. The fair value is estimated to be R$4.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. Buying Opportunity • Jul 13
Now 21% undervalued Over the last 90 days, the stock is up 12%. The fair value is estimated to be R$4.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Mar 15
Full year 2022 earnings released: EPS: R$0.54 (vs R$0.36 in FY 2021) Full year 2022 results: EPS: R$0.54 (up from R$0.36 in FY 2021). Revenue: R$351.2m (up 12% from FY 2021). Net income: R$39.9m (up 42% from FY 2021). Profit margin: 11% (up from 8.9% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 120% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to R$2.71, the stock trades at a trailing P/E ratio of 5.4x. Average trailing P/E is 10x in the Luxury industry in Brazil. Total returns to shareholders of 5.1% over the past three years. Reported Earnings • Aug 11
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: R$95.2m (up 24% from 2Q 2021). Net income: R$14.7m (up 94% from 2Q 2021). Profit margin: 16% (up from 9.9% in 2Q 2021). The increase in margin was driven by higher revenue. Reported Earnings • May 14
First quarter 2022 earnings released: R$0.068 loss per share (vs R$0.052 loss in 1Q 2021) First quarter 2022 results: R$0.068 loss per share (down from R$0.052 loss in 1Q 2021). Revenue: R$62.3m (up 43% from 1Q 2021). Net loss: R$5.06m (loss widened 26% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Haroldo Luiz Filho was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improved over the past week After last week's 24% share price gain to R$2.55, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 8x in the Luxury industry in Brazil. Total returns to shareholders of 11% over the past three years. Reported Earnings • Mar 16
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: R$0.38 (up from R$0.36 loss in FY 2020). Revenue: R$314.4m (up 28% from FY 2020). Net income: R$28.1m (up R$56.2m from FY 2020). Profit margin: 8.9% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 15%. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 15% share price decline to R$2.17, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 12x in the Luxury industry in Brazil. Total loss to shareholders of 9.4% over the past three years. Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment improved over the past week After last week's 23% share price gain to R$2.58, the stock trades at a trailing P/E ratio of 15x. Average trailing P/E is 12x in the Luxury industry in Brazil. Total loss to shareholders of 2.5% over the past three years. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment deteriorated over the past week After last week's 15% share price decline to R$2.30, the stock trades at a trailing P/E ratio of 13.3x. Average trailing P/E is 14x in the Luxury industry in Brazil. Negligible returns to shareholders over past three years. Reported Earnings • Nov 13
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: R$80.5m (up 20% from 3Q 2020). Net income: R$6.43m (up 74% from 3Q 2020). Profit margin: 8.0% (up from 5.5% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improved over the past week After last week's 16% share price gain to R$3.25, the stock trades at a trailing P/E ratio of 24.9x. Average trailing P/E is 19x in the Luxury industry in Brazil. Total returns to shareholders of 55% over the past three years. Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment deteriorated over the past week After last week's 19% share price decline to R$3.27, the stock trades at a trailing P/E ratio of 25x. Average trailing P/E is 21x in the Luxury industry in Brazil. Total returns to shareholders of 61% over the past three years. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improved over the past week After last week's 18% share price gain to R$3.51, the stock trades at a trailing P/E ratio of 26.9x. Average trailing P/E is 22x in the Luxury industry in Brazil. Total returns to shareholders of 84% over the past three years. Board Change • Sep 15
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Haroldo Luiz Filho was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 33% share price gain to R$4.05, the stock trades at a trailing P/E ratio of 31x. Average trailing P/E is 21x in the Luxury industry in Brazil. Total returns to shareholders of 148% over the past three years. Board Change • Sep 05
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Haroldo Luiz Filho was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Board Change • Sep 01
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Haroldo Luiz Filho was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improved over the past week After last week's 17% share price gain to R$3.12, the stock trades at a trailing P/E ratio of 23.9x. Average trailing P/E is 20x in the Luxury industry in Brazil. Total returns to shareholders of 71% over the past three years. Reported Earnings • Aug 14
Second quarter 2021 earnings released: EPS R$0.098 (vs R$0.22 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: R$76.5m (up 329% from 2Q 2020). Net income: R$7.58m (up R$24.8m from 2Q 2020). Profit margin: 9.9% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Reported Earnings • May 16
First quarter 2021 earnings released: R$0.052 loss per share (vs R$0.23 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: R$43.4m (up 3.6% from 1Q 2020). Net loss: R$4.01m (loss narrowed 77% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • Mar 21
Full year 2020 earnings released: R$0.36 loss per share (vs R$1.59 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: R$244.6m (down 23% from FY 2019). Net loss: R$28.2m (loss narrowed 77% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 75% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 10
New 90-day high: R$1.51 The company is up 22% from its price of R$1.24 on 11 November 2020. The Brazilian market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 5.0% over the same period. Announcement • Dec 11
Technos S.A. to Report Q4, 2020 Results on Mar 18, 2021 Technos S.A. announced that they will report Q4, 2020 results After-Market on Mar 18, 2021 Announcement • Dec 10
Technos S.A. to Report Q1, 2021 Results on May 13, 2021 Technos S.A. announced that they will report Q1, 2021 results After-Market on May 13, 2021 Is New 90 Day High Low • Nov 04
New 90-day low: R$0.99 The company is down 13% from its price of R$1.14 on 06 August 2020. The Brazilian market is down 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 4.0% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: R$1.02 The company is down 34% from its price of R$1.54 on 26 June 2020. The Brazilian market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 9.0% over the same period.