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 6,353 - -
Change - -8.67% 28.69% -7.27% -13.13% -17.48% - -
Enterprise Value (EV) 1 8,758 9,048 11,679 11,124 9,693 8,156 7,938 7,824
Change - 3.31% 29.08% -4.75% -12.87% -15.86% -2.68% -1.43%
P/E 36.9x 20x 24.9x 14.2x 10.3x 7.46x 7.41x 6.81x
PBR 2.77x 2.33x 2.67x 2.1x 1.58x 1.2x 1.21x 1.24x
PEG - 0.3x 6.84x 0.2x 0.5x 0.4x 10.96x 0.78x
Capitalization / Revenue 4.73x 3.19x 3.32x 2.68x 2.08x 1.59x 1.49x 1.41x
EV / Revenue 5.09x 3.88x 4.06x 3.37x 2.62x 2.04x 1.86x 1.74x
EV / EBITDA 11.6x 9.41x 10x 7.64x 5.77x 4.74x 4.34x 4.08x
EV / EBIT 14.6x 12x 15.2x 9.91x 7.42x 6.29x 5.73x 5.33x
EV / FCF 24.7x 16.5x 14.6x 10.7x 8.3x 7.89x 7.02x 6.55x
FCF Yield 4.04% 6.04% 6.83% 9.35% 12% 12.7% 14.2% 15.3%
Dividend per Share 2 - - - - 3.447 2.73 4.316 8.792
Rate of return - - - - 4.06% 3.8% 6.01% 12.2%
EPS 2 2.37 4.12 4.27 6.93 8.24 9.63 9.695 10.55
Distribution rate - - - - 41.8% 28.3% 44.5% 83.4%
Net sales 1 1,719 2,329 2,876 3,304 3,697 3,991 4,266 4,497
EBITDA 1 754.8 961.9 1,166 1,456 1,680 1,722 1,828 1,919
EBIT 1 600.6 755.7 767.1 1,122 1,307 1,296 1,385 1,469
Net income 1 223.3 373.6 386.3 631.5 752.5 902 883.2 957.8
Net Debt 1 626.3 1,622 2,122 2,262 1,995 1,803 1,585 1,471
Reference price 2 87.53 82.58 106.41 98.22 84.88 71.80 71.80 71.80
Nbr of stocks (in thousands) 92,902 89,937 89,812 90,230 90,698 88,478 - -
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.($)
7.34x2.02x4.68x3.86% 1.2B
10.61x0.72x2.94x2.45% 980M
7.16x1.11x3.56x6.01% 796M
2.74x1.07x2x20.73% 673M
6.35x0.91x2.71x5.59% 358M
1.88x1.39x3.7x-.--% 327M
4.87x1.03x3.5x11.93% 278M
Average 5.85x 1.18x 3.30x 7.23% 658.69M
Weighted average by Cap. 6.72x 1.26x 3.43x 6.74%

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

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