Azul SA (AZUL) Stock Fundamental Analysis

USA • New York Stock Exchange • NYSE:AZUL • US05501U1060

0.5 USD
+0.01 (+2.33%)
At close: May 27, 2025
0.49 USD
-0.01 (-2%)
Pre-Market: 5/28/2025, 8:00:23 AM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

3

Taking everything into account, AZUL scores 3 out of 10 in our fundamental rating. AZUL was compared to 22 industry peers in the Passenger Airlines industry. There are concerns on the financial health of AZUL while its profitability can be described as average. AZUL is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

  • AZUL had negative earnings in the past year.
  • In the past year AZUL had a positive cash flow from operations.
  • AZUL had negative earnings in each of the past 5 years.
  • AZUL had a positive operating cash flow in 4 of the past 5 years.
AZUL Yearly Net Income VS EBIT VS OCF VS FCFAZUL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -5B -10B

1.2 Ratios

  • The Return On Assets of AZUL (-24.97%) is worse than 69.57% of its industry peers.
  • AZUL has a Return On Invested Capital of 36.38%. This is amongst the best in the industry. AZUL outperforms 100.00% of its industry peers.
  • AZUL had an Average Return On Invested Capital over the past 3 years of 24.48%. This is above the industry average of 20.70%.
  • The last Return On Invested Capital (36.38%) for AZUL is above the 3 year average (24.48%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA -24.97%
ROE N/A
ROIC 36.38%
ROA(3y)-16.76%
ROA(5y)-28.32%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)24.48%
ROIC(5y)N/A
AZUL Yearly ROA, ROE, ROICAZUL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50 -100

1.3 Margins

  • AZUL's Operating Margin of 19.40% is amongst the best of the industry. AZUL outperforms 95.65% of its industry peers.
  • In the last couple of years the Operating Margin of AZUL has grown nicely.
  • AZUL has a better Gross Margin (56.60%) than 60.87% of its industry peers.
  • AZUL's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 19.4%
PM (TTM) N/A
GM 56.6%
OM growth 3YN/A
OM growth 5Y2.99%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y6.57%
GM growth 5Y0.8%
AZUL Yearly Profit, Operating, Gross MarginsAZUL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50 -100 -150

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ROAROEROICOperating and Profit MarginShow most profitable peers

1

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so AZUL is creating value.
  • AZUL has about the same amout of shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, AZUL has more shares outstanding
  • AZUL has a worse debt/assets ratio than last year.
AZUL Yearly Shares OutstandingAZUL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M
AZUL Yearly Total Debt VS Total AssetsAZUL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B

2.2 Solvency

  • Based on the Altman-Z score of -1.07, we must say that AZUL is in the distress zone and has some risk of bankruptcy.
  • With a Altman-Z score value of -1.07, AZUL is not doing good in the industry: 73.91% of the companies in the same industry are doing better.
  • The Debt to FCF ratio of AZUL is 26.68, which is on the high side as it means it would take AZUL, 26.68 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 26.68, AZUL is in line with its industry, outperforming 52.17% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 26.68
Altman-Z -1.07
ROIC/WACC6.93
WACC5.25%
AZUL Yearly LT Debt VS Equity VS FCFAZUL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10B -10B 20B -20B -30B

2.3 Liquidity

  • AZUL has a Current Ratio of 0.35. This is a bad value and indicates that AZUL is not financially healthy enough and could expect problems in meeting its short term obligations.
  • AZUL's Current ratio of 0.35 is on the low side compared to the rest of the industry. AZUL is outperformed by 78.26% of its industry peers.
  • AZUL has a Quick Ratio of 0.35. This is a bad value and indicates that AZUL is not financially healthy enough and could expect problems in meeting its short term obligations.
  • Looking at the Quick ratio, with a value of 0.29, AZUL is doing worse than 86.96% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.35
Quick Ratio 0.29
AZUL Yearly Current Assets VS Current LiabilitesAZUL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. Growth

3.1 Past

  • AZUL shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -46.22%.
  • Looking at the last year, AZUL shows a small growth in Revenue. The Revenue has grown by 7.93% in the last year.
  • AZUL shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 11.28% yearly.
EPS 1Y (TTM)-46.22%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-286.35%
Revenue 1Y (TTM)7.93%
Revenue growth 3Y25.09%
Revenue growth 5Y11.28%
Sales Q2Q%-2.44%

3.2 Future

  • AZUL is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 30.17% yearly.
  • The Revenue is expected to grow by 11.43% on average over the next years. This is quite good.
EPS Next Y76.26%
EPS Next 2Y41.52%
EPS Next 3Y30.17%
EPS Next 5YN/A
Revenue Next Year17.51%
Revenue Next 2Y13.22%
Revenue Next 3Y11.43%
Revenue Next 5YN/A

3.3 Evolution

  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
AZUL Yearly Revenue VS EstimatesAZUL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 5B 10B 15B
AZUL Yearly EPS VS EstimatesAZUL Yearly EPS VS EstimatesYearly EPS VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 2 -2 -4 -6 -8

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Find the best growth stocksShow best growing peers

3

4. Valuation

4.1 Price/Earnings Ratio

  • AZUL reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
  • AZUL is valuated quite expensively with a Price/Forward Earnings ratio of 91.45.
  • Based on the Price/Forward Earnings ratio, AZUL is valued a bit more expensive than the industry average as 60.87% of the companies are valued more cheaply.
  • AZUL's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 28.01.
Industry RankSector Rank
PE N/A
Fwd PE 91.45
AZUL Price Earnings VS Forward Price EarningsAZUL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 50 100 150 200

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of AZUL is on the same level as its industry peers.
  • Based on the Price/Free Cash Flow ratio, AZUL is valued cheaper than 100.00% of the companies in the same industry.
Industry RankSector Rank
P/FCF 0.64
EV/EBITDA 5.08
AZUL Per share dataAZUL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 -5 10 -10 -15

4.3 Compensation for Growth

  • AZUL's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • AZUL's earnings are expected to grow with 30.17% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y41.52%
EPS Next 3Y30.17%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. Dividend

5.1 Amount

  • No dividends for AZUL!.
Industry RankSector Rank
Dividend Yield N/A

More info and screens

Find the best dividend stocksShow peers with best dividend

Azul SA

NYSE:AZUL (5/27/2025, 8:04:00 PM)

Premarket: 0.49 -0.01 (-2%)

0.5

+0.01 (+2.33%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryPassenger Airlines
Earnings (Last)05-14
Earnings (Next)08-07
Inst Owners5.25%
Inst Owner Change-84.35%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap154.03M
Revenue(TTM)20.24B
Net Income(TTM)-6.38B
Analysts47.5
Price Target1.68 (236%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-914.43%
Min EPS beat(2)-1853.43%
Max EPS beat(2)24.56%
EPS beat(4)1
Avg EPS beat(4)-490.46%
Min EPS beat(4)-1853.43%
Max EPS beat(4)24.56%
EPS beat(8)1
Avg EPS beat(8)-354.03%
EPS beat(12)1
Avg EPS beat(12)-252.9%
EPS beat(16)3
Avg EPS beat(16)-185.84%
Revenue beat(2)0
Avg Revenue beat(2)-82.44%
Min Revenue beat(2)-82.5%
Max Revenue beat(2)-82.39%
Revenue beat(4)0
Avg Revenue beat(4)-82.91%
Min Revenue beat(4)-84.21%
Max Revenue beat(4)-82.39%
Revenue beat(8)0
Avg Revenue beat(8)-82.73%
Revenue beat(12)0
Avg Revenue beat(12)-64.15%
Revenue beat(16)2
Avg Revenue beat(16)-48.7%
PT rev (1m)-54.35%
PT rev (3m)-58.3%
EPS NQ rev (1m)-24.77%
EPS NQ rev (3m)-293.75%
EPS NY rev (1m)0%
EPS NY rev (3m)-218.58%
Revenue NQ rev (1m)-2.45%
Revenue NQ rev (3m)-2.38%
Revenue NY rev (1m)1.25%
Revenue NY rev (3m)1.2%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 91.45
P/S 0.04
P/FCF 0.64
P/OCF 0.34
P/B N/A
P/tB N/A
EV/EBITDA 5.08
EPS(TTM)-3.63
EYN/A
EPS(NY)0.01
Fwd EY1.09%
FCF(TTM)0.79
FCFY157.07%
OCF(TTM)1.48
OCFY296.25%
SpS11.82
BVpS-16.61
TBVpS-17.53
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -24.97%
ROE N/A
ROCE 46.05%
ROIC 36.38%
ROICexc 44.79%
ROICexgc 57.89%
OM 19.4%
PM (TTM) N/A
GM 56.6%
FCFM 6.65%
ROA(3y)-16.76%
ROA(5y)-28.32%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)24.48%
ROIC(5y)N/A
ROICexc(3y)33.92%
ROICexc(5y)N/A
ROICexgc(3y)57.91%
ROICexgc(5y)N/A
ROCE(3y)30.98%
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5Y55.25%
ROICexc growth 3YN/A
ROICexc growth 5Y41.91%
OM growth 3YN/A
OM growth 5Y2.99%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y6.57%
GM growth 5Y0.8%
F-Score4
Asset Turnover0.79
Health
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 26.68
Debt/EBITDA 4.64
Cap/Depr 43.11%
Cap/Sales 5.89%
Interest Coverage 1.67
Cash Conversion 37.91%
Profit Quality N/A
Current Ratio 0.35
Quick Ratio 0.29
Altman-Z -1.07
F-Score4
WACC5.25%
ROIC/WACC6.93
Cap/Depr(3y)56%
Cap/Depr(5y)48.67%
Cap/Sales(3y)7.33%
Cap/Sales(5y)7.53%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-46.22%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-286.35%
EPS Next Y76.26%
EPS Next 2Y41.52%
EPS Next 3Y30.17%
EPS Next 5YN/A
Revenue 1Y (TTM)7.93%
Revenue growth 3Y25.09%
Revenue growth 5Y11.28%
Sales Q2Q%-2.44%
Revenue Next Year17.51%
Revenue Next 2Y13.22%
Revenue Next 3Y11.43%
Revenue Next 5YN/A
EBIT growth 1Y123.92%
EBIT growth 3YN/A
EBIT growth 5Y14.61%
EBIT Next Year109.01%
EBIT Next 3Y34.3%
EBIT Next 5YN/A
FCF growth 1Y-44.24%
FCF growth 3YN/A
FCF growth 5Y4.57%
OCF growth 1Y-31.77%
OCF growth 3YN/A
OCF growth 5Y1.44%

Azul SA / AZUL FAQ

What is the fundamental rating for AZUL stock?

ChartMill assigns a fundamental rating of 3 / 10 to AZUL.


Can you provide the valuation status for Azul SA?

ChartMill assigns a valuation rating of 4 / 10 to Azul SA (AZUL). This can be considered as Fairly Valued.


How profitable is Azul SA (AZUL) stock?

Azul SA (AZUL) has a profitability rating of 5 / 10.


What is the financial health of Azul SA (AZUL) stock?

The financial health rating of Azul SA (AZUL) is 1 / 10.