# Cosan S.A. ADS (CSAN) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Energy / Oil, Gas & Consumable Fuels. Price $2.90, market value $2.9 billion.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Cosan S.A. ADS reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 0.4×**. Each dollar of revenue is priced at 0.4×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 3.0×**. The shares trade at 3.0× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 10.0×**. Enterprise value is 10.0× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 31.7%** (5-yr avg 185.1%). Free cash flow equals 31.7% of the market value, below its five-year average of 185.1%, so the shares are pricier on cash than usual. Above 5% is generally attractive.

## Profitability
- **Gross margin: 34.5%**. Cosan S.A. ADS keeps 34.5% of revenue after the direct cost of what it sells.
- **Operating margin: 26.8%**. 26.8% of revenue is left after running the business, an exceptional level.
- **Net margin: -24.1%**. The company reported a net loss over the last twelve months.
- **Return on equity: -183.3%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: 23.4%**. Return on all capital, debt included, is 23.4%: comfortably above what that capital costs.
- **Return on assets: -6.6%**. Each dollar of assets produces -6.6% of profit.

## Growth
- **Revenue growth (1 yr): -8.0%** (3-yr 0.9%/yr, 5-yr 14.6%/yr). Revenue fell 8.0% over the last year, against 14.6% a year compounded over five years: growth is slowing.

## Financial health
- **Debt to equity: 13.32**. Debt is 13.32 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 7.4×**. It would take 7.4 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Interest coverage: 1.3×**. Operating profit covers interest only 1.3×: fragile.
- **Current ratio: 2.58** (quick 2.45). Current assets cover the next year's liabilities 2.58 times.
- **Altman Z-score: 0.85**. A Z-score of 0.85 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 3/9**. 3 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend: none**. Cosan S.A. ADS does not currently pay a dividend.

## Price and momentum
- **Total return (1 yr): -44.1%** (YTD -26.6%, 3-mo 3.9%). The shares are down 44.1% over twelve months including dividends.
- **From 52-week high: -51.7%** (21.8% above the low). Trading 52% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 53**. An RSI of 53 is neutral.
- **Beta (1 yr): 1.33** (volatility 55%). Beta of 1.33 against the S&P 500: the shares move much more than the market.

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

Not investment advice.