AZUL Fundamental Analysis - Azul SA

Fundamental Rating

Overall AZUL gets a fundamental rating of 3 out of 10. We evaluated AZUL against 22 industry peers in the Passenger Airlines industry. While AZUL is still in line with the averages on profitability rating, there are concerns on its financial health. AZUL is quite expensive at the moment. It does show a decent growth rate.

Quickly go to:

1. Profitability

1.1 Basic Checks

AZUL had negative earnings in the past year.

AZUL had a positive operating cash flow in the past year.

In the past 5 years AZUL always reported negative net income.

AZUL had a positive operating cash flow in 4 of the past 5 years.

1.2 Ratios

Looking at the Return On Assets, with a value of -24.97%, AZUL is doing worse than 69.57% of the companies in the same industry.

The Return On Invested Capital of AZUL (36.38%) is better than 100.00% of its industry peers.

AZUL had an Average Return On Invested Capital over the past 3 years of 24.48%. This is significantly above the industry average of 8.55%.

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 Rank	Sector 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

1.3 Margins

The Operating Margin of AZUL (19.40%) is better than 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 Rank	Sector 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%

More info and screens

ROA

ROE

ROIC

Operating and Profit Margin

Show most profitable peers

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), AZUL is creating value.

Compared to 1 year ago, AZUL has about the same amount of shares outstanding.

Compared to 5 years ago, AZUL has more shares outstanding

AZUL has a worse debt/assets ratio than last year.

2.2 Solvency

AZUL has an Altman-Z score of -1.07. This is a bad value and indicates that AZUL is not financially healthy and even has some risk of bankruptcy.

The Altman-Z score of AZUL (-1.07) is worse than 73.91% of its industry peers.

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 Rank	Sector Rank
Debt/Equity	N/A
Debt/FCF	26.68
Altman-Z	-1.07

ROIC/WACC6.93

WACC5.25%

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.

The Current ratio of AZUL (0.35) is worse than 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.

AZUL has a Quick ratio of 0.29. This is amonst the worse of the industry: AZUL underperforms 86.96% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	0.35
Quick Ratio	0.29

More info and screens

WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

Show peers with great health

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%.

The Revenue has been growing slightly by 7.93% in the past year.

The Revenue has been growing by 11.28% on average over the past years. This is quite good.

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.

AZUL is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 11.43% yearly.

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

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.

More info and screens

Find the best growth stocks

Show best growing peers

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 60.87% of the companies in the same industry.

Compared to an average S&P500 Price/Forward Earnings ratio of 22.19, AZUL is valued quite expensively.

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	91.45

4.2 Price Multiples

AZUL's Enterprise Value to EBITDA ratio is in line with the industry average.

AZUL's Price/Free Cash Flow ratio is rather cheap when compared to the industry. AZUL is cheaper than 100.00% of the companies in the same industry.

		Industry Rank	Sector Rank
P/FCF	0.64
EV/EBITDA	5.08

4.3 Compensation for Growth

The 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

Show best valued peers

5. Dividend

5.1 Amount

No dividends for AZUL!.

		Industry Rank	Sector Rank
Dividend Yield	N/A

More info and screens

Find the best dividend stocks

Show 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 2025-05-14/bmo

Earnings (Next)08-07 2025-08-07

Inst Owners5.25%

Inst Owner Change11.16%

Ins OwnersN/A

Ins Owner ChangeN/A

Market Cap154.03M

Analysts47.5

Price Target1.68 (236%)

Short Float %N/A

Short RatioN/A

Dividend

		Industry Rank	Sector 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 Rank	Sector 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

Profitability

		Industry Rank	Sector 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

ROICexcg growth 3YN/A

ROICexcg 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 Rank	Sector 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) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

More info and screens