Azul SA (AZUL) Fundamental Analysis & Valuation

NYSE:AZUL • US05501U1060

Current stock price

0.5 USD
+0.01 (+2.33%)
At close:
0.49 USD
-0.01 (-2%)
Pre-Market:

This AZUL fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

5

1. AZUL Profitability Analysis

1.1 Basic Checks

  • In the past year AZUL has reported negative net income.
  • AZUL had a positive operating cash flow in the past year.
  • In the past 5 years AZUL always reported negative net income.
  • Of the past 5 years AZUL 4 years had a positive operating cash flow.
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

  • 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.
  • 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 20.69%.
  • The 3 year average ROIC (24.48%) for AZUL is below the current ROIC(36.38%), indicating increased profibility in the last year.
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 has a better Operating Margin (19.40%) than 95.65% of its industry peers.
  • In the last couple of years the Operating Margin of AZUL has grown nicely.
  • With a decent Gross Margin value of 56.60%, AZUL is doing good in the industry, outperforming 60.87% of the companies in the same industry.
  • In the last couple of years the Gross Margin of AZUL has remained more or less at the same level.
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. AZUL Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), 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
  • Compared to 1 year ago, AZUL has a worse debt to assets ratio.
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

  • 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.
  • AZUL's Altman-Z score of -1.07 is on the low side compared to the rest of the industry. AZUL is outperformed by 73.91% of its industry peers.
  • AZUL has a debt to FCF ratio of 26.68. This is a negative value and a sign of low solvency as AZUL would need 26.68 years to pay back of all of its debts.
  • The Debt to FCF ratio of AZUL (26.68) is comparable to the rest of the 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

  • A Current Ratio of 0.35 indicates that AZUL may have some problems paying its short term obligations.
  • AZUL has a worse Current ratio (0.35) than 78.26% of its industry peers.
  • A Quick Ratio of 0.29 indicates that AZUL may have some problems paying its short term obligations.
  • AZUL's Quick ratio of 0.29 is on the low side compared to the rest of the industry. AZUL is outperformed by 86.96% of its industry peers.
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. AZUL Growth Analysis

3.1 Past

  • The earnings per share for AZUL have decreased strongly by -46.22% in the last year.
  • The Revenue has been growing slightly by 7.93% in the past 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

  • The Earnings Per Share is expected to grow by 30.17% on average over the next years. This is a very strong growth
  • Based on estimates for the next years, AZUL will show a quite strong growth in Revenue. The Revenue will grow by 11.43% on average per year.
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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3

4. AZUL Valuation Analysis

4.1 Price/Earnings Ratio

  • AZUL reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
  • With a Price/Forward Earnings ratio of 91.45, AZUL can be considered very expensive at the moment.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of AZUL indicates a slightly more expensive valuation: AZUL is more expensive than 60.87% of the companies listed in the same industry.
  • AZUL's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 24.12.
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 20 40 60 80

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 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.
  • A more expensive valuation may be justified as AZUL's earnings are expected to grow with 30.17% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y41.52%
EPS Next 3Y30.17%

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

0

5. AZUL Dividend Analysis

5.1 Amount

  • AZUL does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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Find the best dividend stocksShow peers with best dividend

AZUL Fundamentals: All Metrics, Ratios and Statistics

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-87.11%
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 Fundamental Analysis 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.