Reported Earnings • May 10
First quarter 2026 earnings released: EPS: R$0.49 (vs R$0.60 in 1Q 2025) First quarter 2026 results: EPS: R$0.49 (down from R$0.60 in 1Q 2025). Revenue: R$167.3m (up 11% from 1Q 2025). Net income: R$20.1m (down 18% from 1Q 2025). Profit margin: 12% (down from 16% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 12% per year. Announcement • Apr 02
CSU Digital S.A., Annual General Meeting, Apr 30, 2026 CSU Digital S.A., Annual General Meeting, Apr 30, 2026. Location: rua piaui, 136, city of barueri, state of sao paulo., barueri Brazil Reported Earnings • Mar 15
Full year 2025 earnings released: EPS: R$2.57 (vs R$2.24 in FY 2024) Full year 2025 results: EPS: R$2.57 (up from R$2.24 in FY 2024). Revenue: R$623.5m (up 9.8% from FY 2024). Net income: R$106.1m (up 16% from FY 2024). Profit margin: 17% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 07
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: R$153.7m (up 9.1% from 3Q 2024). Net income: R$23.8m (up 7.5% from 3Q 2024). Profit margin: 16% (in line with 3Q 2024). Reported Earnings • Aug 08
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: R$154.7m (up 9.1% from 2Q 2024). Net income: R$23.7m (up 5.5% from 2Q 2024). Profit margin: 15% (in line with 2Q 2024). Reported Earnings • May 10
First quarter 2025 earnings released: EPS: R$0.60 (vs R$0.59 in 1Q 2024) First quarter 2025 results: EPS: R$0.60 (up from R$0.59 in 1Q 2024). Revenue: R$150.7m (up 8.2% from 1Q 2024). Net income: R$24.4m (flat on 1Q 2024). Profit margin: 16% (down from 17% 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 13% per year whereas the company’s share price has increased by 10% per year. Upcoming Dividend • Apr 25
Upcoming dividend of R$0.44 per share Eligible shareholders must have bought the stock before 02 May 2025. Payment date: 15 May 2025. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 6.5%. Lower than top quartile of Brazilian dividend payers (9.6%). Higher than average of industry peers (5.4%). Announcement • Apr 02
CSU Digital S.A., Annual General Meeting, Apr 30, 2025 CSU Digital S.A., Annual General Meeting, Apr 30, 2025. Location: 136 piaui street, barueri, stateofsao paulo., Brazil Reported Earnings • Mar 12
Full year 2024 earnings released Full year 2024 results: Revenue: R$567.6m (up 7.1% from FY 2023). Net income: R$91.2m (up 3.1% from FY 2023). Profit margin: 16% (in line with FY 2023). Announcement • Feb 27
CSU Digital S.A. to Report Q2, 2025 Results on Aug 06, 2025 CSU Digital S.A. announced that they will report Q2, 2025 results on Aug 06, 2025 New Risk • Dec 10
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: R$594.4m (US$98.2m) 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$594.4m market cap, or US$98.2m). Reported Earnings • Nov 08
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: R$140.8m (up 6.4% from 3Q 2023). Net income: R$22.2m (down 6.5% from 3Q 2023). Profit margin: 16% (down from 18% 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 19% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 10
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: R$141.8m (up 9.6% from 2Q 2023). Net income: R$22.5m (up 9.6% from 2Q 2023). Profit margin: 16% (in line with 2Q 2023). Reported Earnings • May 10
First quarter 2024 earnings released First quarter 2024 results: Revenue: R$139.2m (up 4.8% from 1Q 2023). Net income: R$24.2m (up 20% from 1Q 2023). Profit margin: 17% (up from 15% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.9% p.a. on average during the next 2 years, compared to a 2.6% growth forecast for the Global Diversified Financial industry. Upcoming Dividend • Apr 23
Upcoming dividend of R$0.42 per share Eligible shareholders must have bought the stock before 30 April 2024. Payment date: 09 May 2024. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of Brazilian dividend payers (8.7%). Lower than average of industry peers (5.9%). Reported Earnings • Mar 24
Full year 2023 earnings released Full year 2023 results: Revenue: R$530.2m (down 1.3% from FY 2022). Net income: R$88.4m (up 20% from FY 2022). Profit margin: 17% (up from 14% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.5% p.a. on average during the next 2 years, compared to a 3.1% growth forecast for the Global Diversified Financial industry. Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: R$0.57 (vs R$0.45 in 3Q 2022) Third quarter 2023 results: EPS: R$0.57 (up from R$0.45 in 3Q 2022). Revenue: R$132.4m (down 2.9% from 3Q 2022). Net income: R$23.7m (up 28% from 3Q 2022). Profit margin: 18% (up from 14% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, while revenues in the Global Diversified Financial industry are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. New Risk • Oct 05
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 6.5% 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 (6.5% average weekly change). Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: R$0.49 (vs R$0.43 in 2Q 2022) Second quarter 2023 results: EPS: R$0.49 (up from R$0.43 in 2Q 2022). Revenue: R$129.4m (down 1.1% from 2Q 2022). Net income: R$20.5m (up 16% from 2Q 2022). Profit margin: 16% (up from 14% 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 23% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 10
First quarter 2023 earnings released First quarter 2023 results: Revenue: R$132.8m (up 1.0% from 1Q 2022). Net income: R$20.2m (up 31% from 1Q 2022). Profit margin: 15% (up from 12% in 1Q 2022). Upcoming Dividend • Apr 25
Upcoming dividend of R$0.35 per share at 8.1% yield Eligible shareholders must have bought the stock before 02 May 2023. Payment date: 17 May 2023. Trailing yield: 8.1%. Lower than top quartile of Brazilian dividend payers (8.4%). Higher than average of industry peers (4.9%). Board Change • Mar 27
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. 5 experienced directors. 2 highly experienced directors. Independent Director Rubens Barbosa was the last director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Mar 22
Full year 2022 earnings released: EPS: R$1.80 (vs R$1.47 in FY 2021) Full year 2022 results: EPS: R$1.80 (up from R$1.47 in FY 2021). Revenue: R$537.2m (up 4.5% from FY 2021). Net income: R$73.6m (up 22% from FY 2021). Profit margin: 14% (up from 12% 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 28% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
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. 6 experienced directors. 2 highly experienced directors. Independent Director Rubens Barbosa was the last director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Nov 10
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: R$136.3m (up 3.8% from 3Q 2021). Net income: R$18.5m (up 15% from 3Q 2021). Profit margin: 14% (up from 12% in 3Q 2021). The increase in margin was driven by higher revenue. Buying Opportunity • Sep 27
Now 20% undervalued Over the last 90 days, the stock is up 7.8%. The fair value is estimated to be R$17.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Earnings per share has grown by 33%. Buying Opportunity • Aug 26
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be R$17.33, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Earnings per share has grown by 33%. Reported Earnings • Aug 11
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: R$130.8m (flat on 2Q 2021). Net income: R$17.7m (up 18% from 2Q 2021). Profit margin: 14% (up from 11% in 2Q 2021). Buying Opportunity • Aug 05
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be R$16.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Earnings per share has grown by 33%. Buying Opportunity • Jul 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 4.8%. The fair value is estimated to be R$16.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Earnings per share has grown by 33%. Buying Opportunity • Jun 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 9.8%. The fair value is estimated to be R$16.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Earnings per share has grown by 33%. Buying Opportunity • May 18
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 8.7%. The fair value is estimated to be R$16.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Earnings per share has grown by 33%. Reported Earnings • May 13
First quarter 2022 earnings released: EPS: R$0.38 (vs R$0.31 in 1Q 2021) First quarter 2022 results: EPS: R$0.38 (up from R$0.31 in 1Q 2021). Revenue: R$131.6m (up 6.4% from 1Q 2021). Net income: R$15.5m (up 21% from 1Q 2021). Profit margin: 12% (up from 10% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 30% per year. Board Change • Apr 27
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. 6 experienced directors. 2 highly experienced directors. Independent Director Rubens Barbosa was the last director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Upcoming Dividend • Apr 18
Upcoming dividend of R$0.39 per share Eligible shareholders must have bought the stock before 25 April 2022. Payment date: 29 April 2022. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Brazilian dividend payers (6.2%). Lower than average of industry peers (4.7%). Reported Earnings • Mar 11
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: R$514.0m (up 13% from FY 2020). Net income: R$60.5m (up 29% from FY 2020). Profit margin: 12% (up from 10% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 27% per year. Buying Opportunity • Mar 08
Now 21% undervalued Over the last 90 days, the stock is up 2.1%. The fair value is estimated to be R$16.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.6% per annum over the last 3 years. Earnings per share has grown by 23% per annum over the last 3 years. Buying Opportunity • Feb 04
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 22%. The fair value is estimated to be R$17.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.6% per annum over the last 3 years. Earnings per share has grown by 23% per annum over the last 3 years. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improved over the past week After last week's 18% share price gain to R$15.63, the stock trades at a trailing P/E ratio of 11.1x. Average trailing P/E is 12x in the IT industry in South America. Total returns to shareholders of 120% over the past three years. Reported Earnings • Nov 11
Third quarter 2021 earnings released The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: R$131.4m (up 16% from 3Q 2020). Net income: R$13.2m (up 8.3% from 3Q 2020). Profit margin: 10% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 26
CSU Launches First Hybrid Processing Platform of Electronic Transactions in Latin America CSU CardSystem S.A. continues to stand out in business, starting to operate with a new platform for payment means, scheduled to start operating in the second half of 2021, aiming to strengthening and further modernizing its fronts focused on digital payment services. Aiming at the development of the emerging payment and credit markets linked to the emergence of the PIX instant payments, payment accounts and other new electronic transaction tools, CSU incorporates the Glic platform into its processing ecosystem. This new CSU project is focused on the specific demands of clients and according to the characteristics of each of its products. Now, in addition to the VisionPLUSTM platform, which has a worldwide use in the processing of payment means and offers high conditions of robustness and security for expressive business projects, CSU now also has the Glic platform, with greater agility and flexibility of implementation for the most innovative or initial projects of customers. The Glic platform will be used by CSU in its operations, based on a public cloud for projects of cards of debit, credit and prepaid from Visa, Mastercard and Elo flags, as well as private label solutions. This new project that CSU adds to its processing infrastructure has already been implemented in more than 20 countries, including Brazil, with several active clients in the national territory. With this new operation, CSU enters in short list of processing services companies worldwide to have its card processing ecosystem on hybrid platform (mainframe, distributed platform and cloud). Thus, CSU.CardSystem solutions will be even more agile and flexible, maintaining the robustness and security, traditional features of the company and widely recognized by the market. CSU starts to adhere to new market development trends, with the potential to better serve new customers segments such as startups, fintechs and new financial institutions. And so, it opens spaces for a greater growth of the company. Reported Earnings • May 13
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: R$123.6m (up 8.4% from 1Q 2020). Net income: R$12.8m (up 38% from 1Q 2020). Profit margin: 10% (up from 8.2% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 50% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 12
Upcoming dividend of R$0.15 per share Eligible shareholders must have bought the stock before 19 April 2021. Payment date: 27 April 2021. Trailing yield: 1.3%. Lower than top quartile of Brazilian dividend payers (5.0%). In line with average of industry peers (1.2%). Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improved over the past week After last week's 20% share price gain to R$19.08, the stock trades at a trailing P/E ratio of 16.7x. Average forward P/E is 26x in the IT industry in South America. Total returns to shareholders of 89% over the past three years. Reported Earnings • Mar 09
Full year 2020 earnings released: EPS R$1.14 (vs R$0.65 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: R$456.9m (up 7.8% from FY 2019). Net income: R$46.8m (up 74% from FY 2019). Profit margin: 10% (up from 6.3% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 04
New 90-day low: R$14.60 The company is down 2.0% from its price of R$14.95 on 03 December 2020. The Brazilian market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 25% over the same period. Is New 90 Day High Low • Jan 18
New 90-day high: R$16.55 The company is up 19% from its price of R$13.91 on 20 October 2020. The Brazilian market is up 20% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the IT industry, which is also up 19% over the same period. Is New 90 Day High Low • Dec 29
New 90-day high: R$15.33 The company is up 12% from its price of R$13.72 on 30 September 2020. The Brazilian market is up 25% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the IT industry, which is up 7.0% over the same period. Is New 90 Day High Low • Oct 31
New 90-day low: R$13.05 The company is down 5.0% from its price of R$13.76 on 31 July 2020. The Brazilian market is down 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is down 11% over the same period. 
