GOL LINHAS AEREAS INTEL-ADR (GOL) Fundamental Analysis & Valuation

NYSE:GOL • US38045R2067

Current stock price

2.715 USD
+0.08 (+3.23%)
Last:

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

2

1. GOL Profitability Analysis

1.1 Basic Checks

  • In the past year GOL has reported negative net income.
  • In the past year GOL had a positive cash flow from operations.
GOL Yearly Net Income VS EBIT VS OCF VS FCFGOL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 0 2B -2B -4B -6B

1.2 Ratios

  • The Return On Assets of GOL (-20.89%) is worse than 80.00% of its industry peers.
  • The Return On Invested Capital of GOL (23.88%) is better than 96.00% of its industry peers.
Industry RankSector 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
GOL Yearly ROA, ROE, ROICGOL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 0 20 -20 40 -40 -60 -80

1.3 Margins

  • Looking at the Operating Margin, with a value of 7.05%, GOL is in the better half of the industry, outperforming 68.00% of the companies in the same industry.
  • 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 RankSector 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%
GOL Yearly Profit, Operating, Gross MarginsGOL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 0 20 -20 -40 -60 -80

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ROAROEROICOperating and Profit MarginShow most profitable peers

2

2. GOL Health Analysis

2.1 Basic Checks

  • GOL has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it 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.
GOL Yearly Shares OutstandingGOL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 500M 1B 1.5B
GOL Yearly Total Debt VS Total AssetsGOL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 5B 10B 15B 20B

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.
  • With a Altman-Z score value of -1.19, GOL is not doing good in the industry: 80.00% of the companies in the same industry are doing better.
  • 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.
  • The Debt to FCF ratio of GOL (17.81) is better than 72.00% of its industry peers.
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 17.81
Altman-Z -1.19
ROIC/WACC2.04
WACC11.71%
GOL Yearly LT Debt VS Equity VS FCFGOL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 0 10B -10B 20B -20B

2.3 Liquidity

  • A Current Ratio of 0.24 indicates that GOL may have some problems paying its short term obligations.
  • The Current ratio of GOL (0.24) is worse than 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.
  • GOL has a worse Quick ratio (0.18) than 84.00% of its industry peers.
Industry RankSector Rank
Current Ratio 0.24
Quick Ratio 0.18
GOL Yearly Current Assets VS Current LiabilitesGOL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2B 4B 6B 8B 10B

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

6

3. GOL Growth Analysis

3.1 Past

  • The earnings per share for GOL have decreased strongly by -60.91% in the last year.
  • GOL shows a strong growth in Revenue. In the last year, the Revenue has grown by 85.98%.
  • Measured over the past years, GOL shows a quite strong growth in Revenue. The Revenue has been growing by 8.03% on average per year.
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

  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
GOL Yearly Revenue VS EstimatesGOL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B
GOL Yearly EPS VS EstimatesGOL Yearly EPS VS EstimatesYearly EPS VS Estimates 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -1 -2 -3 -4

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4

4. GOL Valuation Analysis

4.1 Price/Earnings Ratio

  • GOL reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
  • Based on the Price/Forward Earnings ratio of 39.79, the valuation of GOL can be described as expensive.
  • 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 22.84, GOL is valued quite expensively.
Industry RankSector Rank
PE N/A
Fwd PE 39.79
GOL Price Earnings VS Forward Price EarningsGOL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 20 30

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of GOL is on the same level as its industry peers.
  • 80.00% of the companies in the same industry are more expensive than GOL, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 16.6
EV/EBITDA 14.48
GOL Per share dataGOL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 -1 2 -2

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • GOL's earnings are expected to grow with 40.47% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y54.25%
EPS Next 3Y40.47%

More info and screens

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

1

5. GOL Dividend Analysis

5.1 Amount

  • With a yearly dividend of 0.02%, GOL is not a good candidate for dividend investing.
  • GOL's Dividend Yield is a higher than the industry average which is at 0.97.
  • Compared to an average S&P500 Dividend Yield of 1.88, GOL's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.02%

5.2 History

  • GOL is new to the dividend game and has less than 3 years of track record.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
GOL Yearly Dividends per shareGOL Yearly Dividends per shareYearly Dividends per share 2022 2023 0 0 0.01 0.01

5.3 Sustainability

DPN/A
EPS Next 2Y54.25%
EPS Next 3Y40.47%
GOL Yearly Income VS Free CF VS DividendGOL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 0 -2B -4B -6B

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GOL Fundamentals: All Metrics, Ratios and Statistics

GOL LINHAS AEREAS INTEL-ADR

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)11-06
Earnings (Next)03-07
Inst Owners0%
Inst Owner Change0%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap4.34B
Revenue(TTM)16.90B
Net Income(TTM)-3.55B
Analysts42
Price Target3.34 (23.02%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector 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 RankSector 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
Graham NumberN/A
Profitability
Industry RankSector 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
ROICexgc growth 3Y-57.09%
ROICexgc 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 RankSector 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%

GOL LINHAS AEREAS INTEL-ADR / GOL Fundamental Analysis FAQ

What is the ChartMill fundamental rating of GOL LINHAS AEREAS INTEL-ADR (GOL) stock?

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


What is the valuation status for GOL stock?

ChartMill assigns a valuation rating of 4 / 10 to GOL LINHAS AEREAS INTEL-ADR (GOL). This can be considered as Fairly Valued.


Can you provide the profitability details for GOL LINHAS AEREAS INTEL-ADR?

GOL LINHAS AEREAS INTEL-ADR (GOL) has a profitability rating of 3 / 10.


What is the expected EPS growth for GOL LINHAS AEREAS INTEL-ADR (GOL) stock?

The Earnings per Share (EPS) of GOL LINHAS AEREAS INTEL-ADR (GOL) is expected to grow by 115.08% in the next year.