Company Valuation: Afya Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 8,132 7,427 9,557 8,862 7,698 6,339 - -
Change - -8.67% 28.69% -7.27% -13.13% -17.66% - -
Enterprise Value (EV) 1 8,758 9,048 11,679 11,124 9,693 7,786 8,040 8,226
Change - 3.31% 29.08% -4.75% -12.87% -19.67% 3.26% 2.31%
P/E 36.9x 20x 24.9x 14.2x 10.3x 8.29x 7.25x 6.67x
PBR 2.77x 2.33x 2.67x 2.1x 1.58x 1.26x 1.17x 1.19x
PEG - 0.3x 6.84x 0.2x 0.5x 1.93x 0.5x 0.76x
Capitalization / Revenue 4.73x 3.19x 3.32x 2.68x 2.08x 1.57x 1.47x 1.38x
EV / Revenue 5.09x 3.88x 4.06x 3.37x 2.62x 1.93x 1.86x 1.79x
EV / EBITDA 11.6x 9.41x 10x 7.64x 5.77x 4.49x 4.35x 4.21x
EV / EBIT 14.6x 12x 15.2x 9.91x 7.42x 5.93x 5.76x 5.45x
EV / FCF 24.7x 16.5x 14.6x 10.7x 8.3x 7.43x 6.99x 6.8x
FCF Yield 4.04% 6.04% 6.83% 9.35% 12% 13.5% 14.3% 14.7%
Dividend per Share 2 - - - - 3.447 2.006 3.646 4.133
Rate of return - - - - 4.06% 2.82% 5.12% 5.8%
EPS 2 2.37 4.12 4.27 6.93 8.24 8.595 9.823 10.68
Distribution rate - - - - 41.8% 23.3% 37.1% 38.7%
Net sales 1 1,719 2,329 2,876 3,304 3,697 4,026 4,313 4,587
EBITDA 1 754.8 961.9 1,166 1,456 1,680 1,733 1,847 1,954
EBIT 1 600.6 755.7 767.1 1,122 1,307 1,312 1,397 1,508
Net income 1 223.3 373.6 386.3 631.5 752.5 788.4 913 966.4
Net Debt 1 626.3 1,622 2,122 2,262 1,995 1,447 1,701 1,887
Reference price 2 87.53 82.58 106.41 98.22 84.88 71.21 71.21 71.21
Nbr of stocks (in thousands) 92,902 89,937 89,812 90,230 90,698 89,011 - -
Announcement Date 3/31/22 3/22/23 3/14/24 3/13/25 3/12/26 - - -
1BRL in Million2BRL
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.68x0.82x3.34x2.22% 1.08B
7.47x1.11x3.58x4.68% 855M
2.77x1.08x2.01x20.47% 679M
6.59x0.99x2.98x6.46% 420M
1.77x1.28x3.39x8.23% 320M
5.54x1.18x4.73x5.29% 291M
Average 5.97x 1.07x 3.34x 7.89% 607.05M
Weighted average by Cap. 7.09x 1.02x 3.22x 7.46%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield