GOL LINHAS AEREAS INTEL-ADR (GOL) Stock Fundamental Analysis
NYSE:GOL - New York Stock Exchange, Inc. - US38045R2067 - ADR - Currency: USD
We assign a fundamental rating of 3 out of 10 to GOL. GOL was compared to 22 industry peers in the Passenger Airlines industry. GOL may be in some trouble as it scores bad on both profitability and health. GOL has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
GOL had negative earnings in the past year.
GOL had a positive operating cash flow in the past year.
In the past 5 years GOL always reported negative net income.
Each year in the past 5 years GOL had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of -20.89%, GOL is doing worse than 80.00% of the companies in the same industry.
With an excellent Return On Invested Capital value of 23.88%, GOL belongs to the best of the industry, outperforming 96.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -20.89% | ||
| ROE | N/A | ||
| ROIC | 23.88% |
ROA(3y)-35.36%
ROA(5y)-23.46%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
GOL has a Operating Margin of 7.05%. This is in the better half of the industry: GOL outperforms 68.00% of its industry peers.
GOL's Operating Margin has declined in the last couple of years.
GOL has a Gross Margin (23.37%) which is in line with its industry peers.
GOL's Gross Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 7.05% | ||
| PM (TTM) | N/A | ||
| GM | 23.37% |
OM growth 3Y-43.65%
OM growth 5Y-22.24%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-10.87%
GM growth 5Y-5.85%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so GOL is creating value.
GOL has more shares outstanding than it did 1 year ago.
Compared to 1 year ago, GOL has an improved debt to assets ratio.
2.2 Solvency
GOL has an Altman-Z score of -1.19. This is a bad value and indicates that GOL is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of GOL (-1.19) is worse than 80.00% of its industry peers.
GOL has a debt to FCF ratio of 17.81. This is a negative value and a sign of low solvency as GOL would need 17.81 years to pay back of all of its debts.
GOL has a better Debt to FCF ratio (17.81) than 72.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | N/A | ||
| Debt/FCF | 17.81 | ||
| Altman-Z | -1.19 |
ROIC/WACC2.04
WACC11.71%
2.3 Liquidity
A Current Ratio of 0.24 indicates that GOL may have some problems paying its short term obligations.
GOL's Current ratio of 0.24 is on the low side compared to the rest of the industry. GOL is outperformed by 84.00% of its industry peers.
GOL has a Quick Ratio of 0.24. This is a bad value and indicates that GOL is not financially healthy enough and could expect problems in meeting its short term obligations.
The Quick ratio of GOL (0.18) is worse than 84.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.24 | ||
| Quick Ratio | 0.18 |
3. Growth
3.1 Past
The earnings per share for GOL have decreased strongly by -60.91% in the last year.
The Revenue has grown by 85.98% in the past year. This is a very strong growth!
The Revenue has been growing by 8.03% on average over the past years. This is quite good.
EPS 1Y (TTM)-60.91%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-77.51%
Revenue 1Y (TTM)85.98%
Revenue growth 3Y3.11%
Revenue growth 5Y8.03%
Sales Q2Q%52.78%
3.2 Future
GOL is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 40.47% yearly.
Based on estimates for the next years, GOL will show a very strong growth in Revenue. The Revenue will grow by 94.46% on average per year.
EPS Next Y115.08%
EPS Next 2Y54.25%
EPS Next 3Y40.47%
EPS Next 5YN/A
Revenue Next Year529.76%
Revenue Next 2Y158.11%
Revenue Next 3Y94.46%
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 accelerating.
4. Valuation
4.1 Price/Earnings Ratio
GOL reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
GOL is valuated quite expensively with a Price/Forward Earnings ratio of 39.79.
Compared to the rest of the industry, the Price/Forward Earnings ratio of GOL is on the same level as its industry peers.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.19, GOL is valued quite expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 39.79 |
4.2 Price Multiples
The rest of the industry has a similar Enterprise Value to EBITDA ratio as GOL.
80.00% of the companies in the same industry are more expensive than GOL, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 16.6 | ||
| EV/EBITDA | 14.48 |
4.3 Compensation for Growth
GOL's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as GOL's earnings are expected to grow with 40.47% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y54.25%
EPS Next 3Y40.47%
5. Dividend
5.1 Amount
GOL has a yearly dividend return of 0.02%, which is pretty low.
Compared to an average industry Dividend Yield of 2.75, GOL pays a bit more dividend than its industry peers.
With a Dividend Yield of 0.02, GOL pays less dividend than the S&P500 average, which is at 2.40.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.02% |
5.2 History
GOL does not have a reliable dividend history as it only pays dividend since a couple or years.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
DPN/A
EPS Next 2Y54.25%
EPS Next 3Y40.47%
NYSE:GOL (1/25/2024, 8:25:54 PM)
2.715
+0.08 (+3.23%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryPassenger Airlines
Earnings (Last)
Earnings (Next)
Inst Owners0%
Inst Owner Change5.7%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap4.34B
Analysts42
Price Target3.34 (23.02%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.02% |
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)2
Avg EPS beat(2)2330.57%
Min EPS beat(2)1557.89%
Max EPS beat(2)3103.24%
EPS beat(4)2
Avg EPS beat(4)896.73%
Min EPS beat(4)-748.57%
Max EPS beat(4)3103.24%
EPS beat(8)4
Avg EPS beat(8)589.54%
EPS beat(12)5
Avg EPS beat(12)352.37%
EPS beat(16)5
Avg EPS beat(16)158.56%
Revenue beat(2)2
Avg Revenue beat(2)1.93%
Min Revenue beat(2)1.01%
Max Revenue beat(2)2.84%
Revenue beat(4)3
Avg Revenue beat(4)0.15%
Min Revenue beat(4)-4.24%
Max Revenue beat(4)2.84%
Revenue beat(8)5
Avg Revenue beat(8)-4.55%
Revenue beat(12)5
Avg Revenue beat(12)-8.65%
Revenue beat(16)6
Avg Revenue beat(16)-6.81%
PT rev (1m)-2.67%
PT rev (3m)-5.02%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-0.01%
EPS NY rev (1m)-67.65%
EPS NY rev (3m)-64.13%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)-0.83%
Revenue NY rev (3m)-2.07%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 39.79 | ||
| P/S | 1.26 | ||
| P/FCF | 16.6 | ||
| P/OCF | 10.38 | ||
| P/B | N/A | ||
| P/tB | N/A | ||
| EV/EBITDA | 14.48 |
EPS(TTM)-0.45
EYN/A
EPS(NY)0.07
Fwd EY2.51%
FCF(TTM)0.16
FCFY6.02%
OCF(TTM)0.26
OCFY9.63%
SpS2.15
BVpS-2.68
TBVpS-2.91
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -20.89% | ||
| ROE | N/A | ||
| ROCE | 37.75% | ||
| ROIC | 23.88% | ||
| ROICexc | 29.84% | ||
| ROICexgc | 73% | ||
| OM | 7.05% | ||
| PM (TTM) | N/A | ||
| GM | 23.37% | ||
| FCFM | 7.61% |
ROA(3y)-35.36%
ROA(5y)-23.46%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3Y-57.09%
ROICexcg growth 5Y-25.82%
ROICexc growth 3Y-47.97%
ROICexc growth 5Y-20.34%
OM growth 3Y-43.65%
OM growth 5Y-22.24%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-10.87%
GM growth 5Y-5.85%
F-Score5
Asset Turnover0.99
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | N/A | ||
| Debt/FCF | 17.81 | ||
| Debt/EBITDA | 7.06 | ||
| Cap/Depr | 44.82% | ||
| Cap/Sales | 4.56% | ||
| Interest Coverage | 1.09 | ||
| Cash Conversion | 70.65% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.24 | ||
| Quick Ratio | 0.18 | ||
| Altman-Z | -1.19 |
F-Score5
WACC11.71%
ROIC/WACC2.04
Cap/Depr(3y)48.09%
Cap/Depr(5y)66.38%
Cap/Sales(3y)8.88%
Cap/Sales(5y)8.27%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-60.91%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-77.51%
EPS Next Y115.08%
EPS Next 2Y54.25%
EPS Next 3Y40.47%
EPS Next 5YN/A
Revenue 1Y (TTM)85.98%
Revenue growth 3Y3.11%
Revenue growth 5Y8.03%
Sales Q2Q%52.78%
Revenue Next Year529.76%
Revenue Next 2Y158.11%
Revenue Next 3Y94.46%
Revenue Next 5YN/A
EBIT growth 1Y136.15%
EBIT growth 3Y-41.9%
EBIT growth 5Y-15.99%
EBIT Next Year104.74%
EBIT Next 3Y39.26%
EBIT Next 5YN/A
FCF growth 1Y254.17%
FCF growth 3Y-3.99%
FCF growth 5Y39.66%
OCF growth 1Y719.4%
OCF growth 3Y-4.13%
OCF growth 5Y26.38%