# Azul S.A. each representing two (2) (AZUL) fundamentals

Data as of 2026-11-04. NYSE, United States. Sector: Industrials / Airlines. Price $4.41, market value $884 million.

## Valuation
- **P/E (trailing): 0.0×**. Azul S.A. each representing two (2) trades at 0.0× trailing earnings. The Industrials median in the September 2026 study was 25.7×. Forward P/E is 12.7×, higher than trailing, so analysts expect earnings to fall.
- **Price / sales: 0.2×**. Each dollar of revenue is priced at 0.2×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **EV / EBITDA: 3.9×**. Enterprise value is 3.9× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: -43.0%**. Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 12450930.9%**. The inverse of the P/E: 12450930.9% of the price is earned each year.

## Profitability
- **Gross margin: 32.0%**. Azul S.A. each representing two (2) keeps 32.0% of revenue after the direct cost of what it sells.
- **Operating margin: 10.4%**. 10.4% of revenue is left after running the business.
- **Net margin: 0.6%**. 0.6% of each dollar of sales reaches the bottom line.
- **Return on equity: -0.4%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -8.6%**. Return on all capital, debt included, is -8.6%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 8.4%**. Each dollar of assets produces 8.4% of profit.

## Growth
- **Revenue growth (1 yr): 10.8%** (3-yr 10.7%/yr, 5-yr 30.4%/yr). Revenue grew 10.8% over the last year, against 30.4% a year compounded over five years: growth is slowing.

## Financial health
- **Net debt / EBITDA: 2.5×**. It would take 2.5 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 0.4×**. Operating profit covers interest only 0.4×: fragile.
- **Current ratio: 0.21** (quick 0.21). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 1.56%** ($0.07 per share, trailing). Azul S.A. each representing two (2) yields 1.56%, a modest yield more typical of a growth-oriented payer.

## Analyst view
- **Analyst consensus: buy** (2 analysts). 2 analysts cover Azul S.A. each representing two (2); the consensus is buy, with an average price target of $8.44 (+91% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **From 52-week high: -55.1%** (31.6% above the low). Trading 55% below its 52-week high, deep in a drawdown.
- **RSI (14-day): 29**. An RSI of 29 is oversold; bounces are common, but oversold can stay oversold in a real decline.
- **Beta (1 yr): 0.22** (volatility 77%). Beta of 0.22 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=AZUL · Page: https://foliofundamentals.com/stocks/azul

Not investment advice.