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 12,346 - -
Change - -20.98% 12.93% -57.96% 38.55% -41.38% - -
Enterprise Value (EV) 1 70,813 32,014 83,677 71,262 64,456 55,761 62,826 57,151
Change - -54.79% 161.37% -14.84% -9.55% -13.49% 12.67% -9.03%
P/E 6.52x 27.3x 33.2x -1.61x -1.37x -125x 6.36x 3.05x
PBR 2.71x - 1.73x 1.39x 3.97x 0.19x 0.17x 0.13x
PEG - -0.3x -4.85x 0x 0.1x 1.3x -0x 0x
Capitalization / Revenue 0.36x 0.2x 0.92x 0.35x 0.52x 0.07x 0.07x 0.07x
EV / Revenue 0.63x 0.2x 2.12x 1.62x 1.59x 0.34x 0.37x 0.34x
EV / EBITDA 5.97x 2.03x 5.1x 4.68x 12.9x 3.66x 3.19x 2.79x
EV / EBIT 7.35x 2.51x 6.41x 6.28x 59.3x 5.28x 4.74x 3.86x
EV / FCF 61.3x - 20.9x 13.6x 14.1x 9.92x 9.81x -
FCF Yield 1.63% - 4.79% 7.36% 7.09% 10.1% 10.2% -
Dividend per Share 2 0.8 - 1.27 1.58 - - 0.0182 0.0309
Rate of return 3.69% - 6.56% 19.4% - - 0.58% 0.99%
EPS 2 3.326 0.6264 0.5835 -5.06 -3.89 -0.025 0.4919 1.027
Distribution rate 24.1% - 218% -31.2% - - 3.7% 3.01%
Net sales 1 113,096 162,253 39,468 43,951 40,419 165,309 171,506 170,205
EBITDA 1 11,862 15,762 16,421 15,213 4,978 15,250 19,704 20,461
EBIT 1 9,640 12,748 13,056 11,344 1,087 10,555 13,246 14,793
Net income 1 6,312 1,176 1,094 -9,424 -9,722 -318 1,597 2,106
Net Debt 1 30,297 - 47,522 56,062 43,396 43,415 50,481 44,805
Reference price 2 21.690 17.120 19.360 8.160 5.320 3.130 3.130 3.130
Nbr of stocks (in thousands) 1,867,975 1,869,987 1,867,500 1,862,800 3,958,645 3,944,366 - -
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.($)
-125.2x0.34x3.66x-.--% 2.37B
20.41x - - -.--% 1,076B
26.5x2.17x13.97x1.07% 155B
24.5x4.02x13.81x1.76% 93.31B
34.67x2.68x20.58x0.69% 92.01B
24.86x5.32x18.15x2.28% 81.07B
23.52x1.86x13.29x1.09% 77.34B
33.73x4.06x18.78x2.63% 72.17B
40.16x2.71x13.99x2.86% 25.02B
Average 11.46x 2.90x 14.53x 1.38% 186.05B
Weighted average by Cap. 23.01x 3.17x 15.98x 0.55%

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