AZUL SA SPONS ADS EACH REP 2 ORD
AZUL
7.18
-0.32
-4.27%
AZUL SA SPONS ADS EACH REP 2 ORD
US · AZUL
#3040 by market cap
Listed 1970
7.18
-0.32
-4.27%
Live - 5344 symbols - heartbeat 277s ago
· 2026-10-07 19:54
After-hours
7.18
0.00%
- Market cap
- 1.32B
- P/E (TTM)i
- -15.71
- P/Bi
- -1.29
- EPSi
- 0.06
- Div yieldi
- 0.93%
- 52W posi
- 31%
Reader sentiment
Are you bullish or bearish on AZUL?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Weak
- Altman Z-Score is -1.86, below the 1.8 "distress zone" threshold.
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 8 years
Latest year +10.83% YoY
Margins
- Gross margin
- 33.16%
- Operating margin
- 14.64%
- Net margin
- 0.58%
Key ratios & quality
- Enterprise valuei
- 27.12B
- Altman Z-Scorei
- -1.86
Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 9.06B | 11.44B | 5.74B | 9.98B | 15.95B | 18.55B | 19.53B | 21.64B |
| Gross profit | 2.48B | 3.31B | -625.94M | 1.81B | 3.17B | 5.09B | 5.92B | 7.18B |
| Selling & admin expenses | 368.66M | 444.08M | 61.79M | 484.24M | 802.22M | 868.76M | 968.81M | 1.02B |
| Research & development | -- | -- | -- | -- | -- | -- | -- | -- |
| Operating profit | 1.19B | 1.70B | -2.16B | -1.02B | 326.76M | 1.42B | 3.25B | 3.17B |
| Pretax profit | -452.93M | -2.54B | -11.08B | -4.21B | -722.37M | -2.34B | -9.19B | 124.87M |
| Tax | 182.81M | -133.18M | -242.51M | 0 | 0 | 39.53M | -38.80M | 12.00K |
| Net profit | -635.73M | -2.40B | -10.83B | -4.21B | -722.37M | -2.38B | -9.15B | 124.86M |
| Basic EPS | -4 | -15 | -65 | -25 | -4 | -14 | -55 | 0 |
| Diluted EPS | -42,300,169.31 | -158,625,634.90 | -712,577,852.09 | -274,276,097.79 | -46,800,187.32 | -154,125,616.89 | -592,202,370.29 | 0.28 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 5.39B | 4.94B | 5.74B | 5.57B | 5.47B | 4.98B |
| Gross profit | 1.55B | 1.25B | 1.62B | 2.68B | 1.94B | 724.90M |
| Selling & admin expenses | 258.61M | 222.60M | 764.13M | -769.97M | 315.51M | 271.00M |
| Research & development | -- | -- | -- | -- | -- | -- |
| Operating profit | 1.50B | 379.90M | 673.62M | 1.05B | 706.48M | -159.00M |
| Pretax profit | 1.65B | 1.29B | -1.37B | -1.63B | -1.49B | -1.04B |
| Tax | 15.00K | 0 | 0 | -15.00K | -7.51B | 0 |
| Net profit | 1.65B | 1.29B | -1.37B | -1.63B | 6.02B | -1.04B |
| Basic EPS | 8 | 3 | -3 | -4 | 6.86M | -6 |
| Diluted EPS | 7.66 | 2.89 | -450,001.80 | -3.70 | 6,858,027.43 | -5.65 |
Balance sheet
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Total current assets | 3.69B | 4.14B | 5.42B | 5.85B | 4.87B | 5.04B | 5.66B | 6.30B |
| Cash & ST investments | 1.69B | 1.71B | 3.16B | 3.08B | 668.35M | 1.90B | 1.28B | 1.02B |
| Inventory | 200.15M | 260.87M | 402.59M | 571.92M | 721.74M | 799.21M | 943.58M | 972.53M |
| Total assets | 16.09B | 19.20B | 15.79B | 18.53B | 18.72B | 20.53B | 26.27B | 23.64B |
| Total current liabilities | 5.28B | 6.86B | 10.21B | 11.71B | 15.06B | 14.75B | 21.34B | 29.47B |
| Short-term debt | 1.40B | 2.07B | 3.13B | 4.52B | 5.91B | 5.10B | 8.65B | 17.23B |
| Long-term debt | 2.60B | 3.04B | 6.50B | 9.00B | 7.51B | 9.77B | 13.83B | 9.58B |
| Total liabilities | 17,244,436,000.00 | 22,716,664,000.00 | 29,943,207,000.00 | 36,866,476,000.00 | 37,728,793,000.00 | 41,860,757,000.00 | 56,710,213,000.00 | 52,675,976,000.00 |
| Total equity | -1.15B | -3.52B | -14.15B | -18.33B | -19.01B | -21.33B | -30.44B | -29.04B |
| Retained earnings | -5.11B | -7.52B | -18.35B | -22.56B | -23.29B | -25.67B | -34.82B | -34.69B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 5.96B | 7.18B | 7.30B | 6.30B | 7.23B | 6.29B |
| Cash & ST investments | 1.60B | 2.59B | 1.77B | 1.02B | 2.09B | 1.27B |
| Inventory | 972.55M | 988.10M | 1.02B | 972.53M | 974.97M | 1.10B |
| Total assets | 25.55B | 26.90B | 27.63B | 23.64B | 31.17B | 30.78B |
| Total current liabilities | 17.02B | 21.36B | 26.83B | 29.47B | 14.48B | 14.89B |
| Short-term debt | 4.87B | 9.15B | 15.37B | 17.23B | 3.57B | 3.94B |
| Long-term debt | 16.33B | 12.47B | 9.53B | 9.58B | 8.64B | 8.54B |
| Total liabilities | 53,999,825,000.00 | 52,937,500,000.00 | 55,032,952,000.00 | 52,675,976,000.00 | 34,940,881,000.00 | 35,939,800,000.00 |
| Total equity | -28.45B | -26.04B | -27.41B | -29.04B | -3.77B | -5.15B |
| Retained earnings | -33.16B | -31.70B | -33.06B | -34.69B | -28.67B | -30.07B |
Cash flow
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 1.76B | 2.59B | 976.23M | -310.62M | 2.44B | 3.44B | 2.79B | -1.23B |
| Depreciation & amortization | 1.28B | 1.62B | 1.81B | 1.54B | 2.09B | 2.40B | 2.56B | 3.01B |
| Free cash flow | 578.26M | 1.03B | 523.57M | -1.09B | 986.26M | 2.47B | 1.29B | -1.98B |
| Dividends paid | -- | -- | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | -12.18M | 24.91M | 23.78M | -16.20M | 19.02M | -6.01M | -2.60M | 51.20M |
| Ending cash balance | 1.17B | 1.65B | 3.06B | 3.07B | 668.35M | 1.90B | 1.21B | 991.64M |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | -313.18M | -68.20M | -1.08B | 225.90M | -128.75M | -208.10M |
| Depreciation & amortization | 815.24M | 762.80M | 717.41M | 717.96M | 654.41M | 747.10M |
| Free cash flow | -457.51M | -125.60M | -1.19B | -203.06M | -267.38M | -421.00M |
| Dividends paid | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | 0 | 49.40M | 3.00K | 0 | 2.75B | 0 |
| Ending cash balance | 460.70M | 1.46B | 652.58M | 991.64M | 2.09B | 1.27B |
Returns & efficiency
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| ROE %i | 14.02 | -- | -- | -- | -- | -- | -- | -- |
| ROA %i | 3.80 | -15.51 | -61.93 | -24.55 | -3.88 | -12.13 | -39.10 | 0.50 |
| ROIC %i | 9.30 | -- | -- | -- | -- | -- | -- | -- |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 9.95 | -12.16 | -151.52 | -6.10 | 22.06 | 11.94 | -22.19 | 32.12 |
| FCF / sales %i | -- | 9.04 | 9.11 | -- | 6.18 | 13.30 | 6.62 | -- |
| Current ratioi | 0.70 | 0.60 | 0.53 | 0.50 | 0.32 | 0.34 | 0.27 | 0.21 |
| Quick ratioi | 0.59 | 0.45 | 0.42 | 0.36 | 0.18 | 0.22 | 0.15 | 0.13 |
| Debt / assetsi | 72.55 | 81.39 | 125.88 | 134.40 | 128.05 | 128.27 | 142.88 | 153.01 |
| LT debt / equityi | -- | -- | -- | -- | -- | -- | -- | -- |
| Interest coveragei | 2.95 | -1.21 | -3.67 | -0.17 | 0.83 | 0.49 | -0.89 | 1.02 |
| Revenue CAGR (3Y) %i | 13.12 | 19.71 | -9.33 | 3.27 | 11.70 | 47.82 | 25.09 | 10.71 |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | 25.79 | -- | -1.57 | 67.66 | -- | -- |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | -- | -- | -- | -- | -- | -- |
| ROA %i | -27.76 | -9.66 | -10.42 | 0.50 | 15.84 | -5.45 |
| ROIC %i | -- | -- | -- | -- | -- | -- |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | -5.96 | 19.58 | 18.24 | 32.12 | 16.66 | 15.18 |
| FCF / sales %i | 6.65 | 1.65 | -- | -- | -- | -- |
| Current ratioi | 0.35 | 0.34 | 0.27 | 0.21 | 0.50 | 0.42 |
| Quick ratioi | 0.21 | 0.21 | 0.17 | 0.13 | 0.34 | 0.26 |
| Debt / assetsi | 140.46 | 130.43 | 137.06 | 153.01 | 66.23 | 69.57 |
| LT debt / equityi | -- | -- | -- | -- | -- | -- |
| Interest coveragei | -0.23 | 0.63 | 0.60 | 1.02 | 0.54 | 0.68 |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
Revenue breakdown most recent period
Business
Air transport100.00%
Quote time 2026-10-07 19:54:59 · For reference only, not investment advice and not tailored to your situation.