Company Valuation: Cosan S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 40,516 32,014 36,155 15,200 21,060 15,284 - -
Change - -20.98% 12.93% -57.96% 38.55% -27.43% - -
Enterprise Value (EV) 1 70,813 32,014 83,677 71,262 64,456 62,231 65,764 60,089
Change - -54.79% 161.37% -14.84% -9.55% -3.45% 5.68% -8.63%
P/E 6.52x 27.3x 33.2x -1.61x -1.37x -13.5x 9.11x 3.8x
PBR 2.71x - 1.73x 1.39x 3.97x 0.32x 0.29x 0.24x
PEG - -0.3x -4.85x 0x 0.1x 0.1x -0x 0x
Capitalization / Revenue 0.36x 0.2x 0.92x 0.35x 0.52x 0.09x 0.09x 0.09x
EV / Revenue 0.63x 0.2x 2.12x 1.62x 1.59x 0.37x 0.39x 0.35x
EV / EBITDA 5.97x 2.03x 5.1x 4.68x 12.9x 3.29x 3.28x 2.94x
EV / EBIT 7.35x 2.51x 6.41x 6.28x 59.3x 5x 4.96x 4.06x
EV / FCF 61.3x - 20.9x 13.6x 14.1x 11.1x 10.3x 11.5x
FCF Yield 1.63% - 4.79% 7.36% 7.09% 9.04% 9.73% 8.72%
Dividend per Share 2 0.8 - 1.27 1.58 - - 0.0182 0.0309
Rate of return 3.69% - 6.56% 19.4% - - 0.47% 0.79%
EPS 2 3.326 0.6264 0.5835 -5.06 -3.89 -0.289 0.4283 1.027
Distribution rate 24.1% - 218% -31.2% - - 4.25% 3.01%
Net sales 1 113,096 162,253 39,468 43,951 40,419 166,717 169,928 170,205
EBITDA 1 11,862 15,762 16,421 15,213 4,978 18,943 20,022 20,461
EBIT 1 9,640 12,748 13,056 11,344 1,087 12,451 13,246 14,793
Net income 1 6,312 1,176 1,094 -9,424 -9,722 -1,014 1,610 2,106
Net Debt 1 30,297 - 47,522 56,062 43,396 46,947 50,481 44,805
Reference price 2 21.690 17.120 19.360 8.160 5.320 3.900 3.900 3.900
Nbr of stocks (in thousands) 1,867,975 1,869,987 1,867,500 1,862,800 3,958,645 3,918,953 - -
Announcement Date 2/18/22 2/28/23 3/28/24 3/11/25 3/9/26 - - -
1BRL in Million2BRL
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-13.56x0.37x3.29x-.--% 3.03B
23.75x - - -.--% 1,055B
23.68x1.9x11.81x1.23% 132B
22.9x3.8x13.13x1.8% 88.06B
31.27x2.21x16.42x0.77% 80.19B
24.14x5.24x17.85x2.39% 78.81B
32.85x4.1x17.82x3.37% 73.82B
23.06x1.77x12.95x1.18% 70.64B
38.82x2.65x13.68x2.96% 23.98B
Average 22.99x 2.76x 13.37x 1.52% 178.4B
Weighted average by Cap. 24.63x 3.03x 14.54x 0.61%

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