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 6,837 - -
Change - -8.67% 28.69% -7.27% -13.13% -11.19% - -
Enterprise Value (EV) 1 8,758 9,048 11,679 11,124 9,693 8,284 8,538 8,724
Change - 3.31% 29.08% -4.75% -12.87% -14.53% 3.07% 2.18%
P/E 36.9x 20x 24.9x 14.2x 10.3x 8.94x 7.82x 7.19x
PBR 2.77x 2.33x 2.67x 2.1x 1.58x 1.36x 1.26x 1.28x
PEG - 0.3x 6.84x 0.2x 0.5x 2.08x 0.5x 0.82x
Capitalization / Revenue 4.73x 3.19x 3.32x 2.68x 2.08x 1.7x 1.59x 1.49x
EV / Revenue 5.09x 3.88x 4.06x 3.37x 2.62x 2.06x 1.98x 1.9x
EV / EBITDA 11.6x 9.41x 10x 7.64x 5.77x 4.78x 4.62x 4.47x
EV / EBIT 14.6x 12x 15.2x 9.91x 7.42x 6.31x 6.11x 5.78x
EV / FCF 24.7x 16.5x 14.6x 10.7x 8.3x 7.9x 7.42x 7.22x
FCF Yield 4.04% 6.04% 6.83% 9.35% 12% 12.7% 13.5% 13.9%
Dividend per Share 2 - - - - 3.447 2.006 3.646 4.133
Rate of return - - - - 4.06% 2.61% 4.75% 5.38%
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 76.81 76.81 76.81
Nbr of stocks (in thousands) 92,902 89,937 89,812 90,230 90,698 89,011 - -
Announcement Date 3/31/22 A 3/22/23 A 3/14/24 A 3/13/25 A 3/12/26 A - - -
1BRL in Million2BRL
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.49x0.95x3.89x1.96% 1.19B
7.88x1.14x3.66x4.43% 889M
2.33x0.99x1.83x23.47% 589M
7.17x1.02x3.08x5.93% 451M
1.97x1.36x3.59x7.4% 350M
5.33x1.15x4.64x5.5% 276M
Average 6.03x 1.10x 3.45x 8.12% 623.5M
Weighted average by Cap. 7.32x 1.06x 3.44x 7.19%

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