B3 · BRL

ALPA3

Alpargatas SA

R$10.21+2.82% (R$0.28)Updated 01/10/2026, 02:16

Day's range: R$10.21 – R$10.42
Day's volume: R$39.8k
52-week range: R$8.47 – R$13.49

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ALPA3 in numbers

Market cap: R$8.3bn

P/E: 9.95

P/B: 1.93

Dividend yield (12m): 17.10%

Net debt/EBITDA: 0.53

The 12-month dividend yield of ALPA3 is 17.10%, above its 5-year average of 3.67%.

ALPA3 price history

01/10/202530/09/2026

Compare with

ALPA3 risk and return

Monthly closes adjusted for splits and distributions.

Metric	12 months	36 months	60 months
Return	+13.85%	+27.60%	-75.13%
Volatility (annualised)	37.36%	39.89%	39.92%
Largest drawdown	-31.06%	-46.25%	-86.72%
Positive months	5/12	15/36	20/60

How much did investing in ALPA3 return?

Amount invested

R$1,000.00 invested on 01/09/2021 would be worth R$248.69 today.

Value today in ALPA3: R$248.69

Return over the period: -75.13%

Return per year: -24.30%

In the Ibovespa: R$1,657.66

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

ALPA3 fundamentals

Valuation

P/E
9.95
P/B
1.93
EV/EBITDA
8.67
EV/EBIT
11.49
EV/Revenue
1.84
P/EBIT
10.78
P/S
1.73
P/OCF
10.57
P/FCF
16.59
Earnings yield
8.70%
PEG ratio
0.06
Earnings per share
R$1.03
Book value per share
R$5.30

Debt

Net debt
R$548.2m
Net debt/EBITDA
0.53
Net debt/Equity
0.15
Debt/Equity
0.35
Current ratio
1.91
Quick ratio
1.39
Cash ratio
0.45

Efficiency

Gross margin
52.96%
EBITDA margin
21.23%
Operating margin
16.02%
Net margin
14.52%
Asset turnover
0.77

Profitability

ROE
19.37%
ROA
11.15%
ROIC
17.80%
Payout
170.10%

Growth

Revenue CAGR (5 years)
4.18%
Earnings CAGR (5 years)
18.62%
Revenue growth (year)
11.11%
Earnings growth (year)
426.78%
Revenue growth (quarter)
10.86%
Earnings growth (quarter)
169.78%

What is ALPA3's fair price?

Two classic value formulas, with today's numbers. The current price is R$10.21.

Graham's fair price: R$11.06; 8.34% above the price

√(22.50 × R$1.03 × R$5.30)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price: R$6.96; 31.80% below the price

R$0.42 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

ALPA3 indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator	2025	2024	2023	2022	2021	2020	2019	2018
P/E	12.46	36.69	-3.82	66.92	26.44	159.81	59.17	29.02
P/B	2.13	0.98	1.91	1.41	5.26	7.42	5.93	3.90
EV/EBITDA	9.08	12.94	—	24.01	23.68	50.37	27.08	17.17
Dividend yield	16.32%	0.00%	0.00%	1.25%	0.80%	0.13%	0.00%	3.28%
Earnings per share	R$0.83	R$0.16	-R$2.73	R$0.18	R$1.17	R$0.24	R$0.47	R$0.56
Book value per share	R$4.87	R$5.91	R$5.46	R$8.43	R$5.90	R$5.13	R$4.65	R$4.20
ROE	17.11%	2.68%	-50.08%	2.11%	19.89%	4.64%	10.02%	13.42%
ROIC	14.85%	1.29%	-41.52%	2.13%	19.18%	10.68%	12.96%	14.54%
Gross margin	52.17%	43.15%	40.07%	46.10%	49.55%	52.34%	50.29%	43.87%
EBITDA margin	18.74%	7.33%	-47.61%	8.72%	18.99%	12.96%	15.85%	14.46%
Net margin	12.46%	2.63%	-49.99%	2.90%	17.46%	4.17%	7.38%	8.49%
Net debt/EBITDA	0.79	-0.22	—	1.72	-0.63	-1.03	-0.49	0.13

ALPA3 financial statements

Line	2025	2024	2023	2022	2021	2020
Net revenue	R$4.6bn	R$4.1bn	R$3.7bn	R$4.2bn	R$3.9bn	R$3.4bn
Cost of sales	-R$2.2bn	-R$2.3bn	-R$2.2bn	-R$2.3bn	-R$2bn	-R$1.6bn
Gross profit	R$2.4bn	R$1.8bn	R$1.5bn	R$1.9bn	R$2bn	R$1.8bn
EBITDA	R$855.5m	R$301.1m	-R$1.8bn	R$364.6m	R$750m	R$435.9m
EBIT	R$594.7m	R$51.2m	-R$2bn	R$201.1m	R$619.2m	R$274.3m
Net finance result	-R$37.1m	R$12.3m	-R$95.9m	R$69.8m	R$95.3m	-R$73.8m
Profit before tax	R$557.6m	R$63.5m	-R$2.1bn	R$271m	R$714.5m	R$200.4m
Income tax	R$10.3m	R$43.9m	R$217.4m	-R$87.2m	-R$51.9m	R$8.1m
Net income	R$568.8m	R$108m	-R$1.9bn	R$121.5m	R$689.6m	R$140.2m

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

ALPA3 against its sector

The same indicators for the company's other shares and the sector's largest stocks.

Stock	P/E	P/B	Dividend yield (12m)	ROE	Market cap
ALPA3Alpargatas	9.95	1.93	17.10%	19.37%	R$8.3bn
ALPA4ALPARGATAS S.A.	13.82	2.68	12.66%	19.37%	R$8.3bn
ABEV3AMBEV S.A.	14.64	2.69	5.51%	18.40%	R$237.8bn
MBRF3MBRF3	63.49	2.03	0.00%	3.20%	R$23.2bn
NATU3NATURA COSMETICOS S.A.	-1.32	0.62	0.00%	-47.14%	R$9.3bn
MDIA3M.DIAS BRANCO S.A. IND COM DE ALIMENTOS	8.56	0.65	5.83%	7.65%	R$5.6bn

Does ALPA3 pay dividends?

Dividend yield per year

4.54%2017
3.28%2018
0.00%2019
0.13%2020
0.80%2021
1.25%2022
0.00%2023
0.00%2024
16.32%2025
1.46%2026

Payment history
Type	Last day to own	Payment	Per share
Interest on equity	16/12/2025	15/05/2026	R$0.15
Dividend	16/12/2025	30/12/2025	R$0.34
Other	18/11/2025	19/12/2025	R$1.25
Interest on equity	27/02/2025	20/05/2025	R$0.07
Dividend	27/02/2025	20/05/2025	R$0.02
Interest on equity	30/12/2021	21/12/2022	R$0.15
Interest on equity	03/11/2021	19/11/2021	R$0.02
Dividend	03/11/2021	19/11/2021	R$0.23
Dividend	14/02/2020	10/03/2020	R$0.05
Interest on equity	17/08/2018	18/09/2018	R$0.08
Interest on equity	18/05/2018	04/07/2018	R$0.07
Interest on equity	02/03/2018	18/04/2018	R$0.08

See all 94 distributions

Earlier distributions
Type	Last day to own	Payment	Per share
Dividend	21/02/2018	18/04/2018	R$0.20
Interest on equity	17/11/2017	13/12/2017	R$0.08
Interest on equity	11/08/2017	19/09/2017	R$0.08
Interest on equity	12/05/2017	12/07/2017	R$0.08
Interest on equity	17/03/2017	12/04/2017	R$0.08
Interest on equity	17/03/2017	12/04/2017	R$0.31
Interest on equity	11/11/2016	14/12/2016	R$0.13
Interest on equity	12/08/2016	05/10/2016	R$0.07
Interest on equity	13/05/2016	13/07/2016	R$0.04
Interest on equity	11/03/2016	13/04/2016	R$0.04
Dividend	07/12/2015	16/12/2015	R$0.19
Interest on equity	14/11/2014	17/12/2014	R$0.03
Interest on equity	16/08/2013	18/09/2013	R$0.05
Interest on equity	22/03/2013	17/04/2013	R$0.05
Dividend	22/03/2013	17/04/2013	R$0.06
Interest on equity	16/11/2012	12/12/2012	R$0.05
Interest on equity	10/08/2012	03/09/2012	R$0.05
Interest on equity	20/05/2011	04/07/2011	R$0.05
Interest on equity	20/08/2010	30/09/2010	R$0.04
Interest on equity	18/03/2010	30/04/2010	R$0.03
Interest on equity	19/11/2009	18/12/2009	R$0.27
Interest on equity	21/08/2009	14/10/2009	R$0.27
Interest on equity	22/05/2009	28/08/2009	R$0.27
Interest on equity	20/03/2009	29/05/2009	R$0.80
Interest on equity	25/08/2008	23/12/2008	R$0.75
Interest on equity	24/03/2008	31/03/2008	R$0.75
Interest on equity	22/11/2007	06/12/2007	R$0.65
Interest on equity	21/08/2007	03/10/2007	R$0.63
Interest on equity	18/05/2007	29/06/2007	R$0.64
Interest on equity	09/03/2007	30/03/2007	R$0.63
Dividend	09/03/2007	30/03/2007	R$0.13
Interest on equity	22/11/2006	29/11/2006	R$0.58
Interest on equity	21/08/2006	31/08/2006	R$0.54
Interest on equity	10/05/2006	12/07/2006	R$0.71
Interest on equity	04/04/2006	05/05/2006	R$0.71
Dividend	03/03/2006	12/04/2006	R$0.09
Interest on equity	10/11/2005	30/11/2005	R$0.46
Interest on equity	24/08/2005	14/09/2005	R$0.76
Interest on equity	08/07/2005	14/07/2005	R$0.67
Interest on equity	13/05/2005	01/06/2005	R$0.01
Interest on equity	23/12/2004	05/04/2005	R$0.00
Interest on equity	16/11/2004	23/02/2005	R$0.01
Interest on equity	11/08/2004	06/10/2004	R$0.00
Interest on equity	10/05/2004	10/08/2004	R$0.00
Dividend	26/02/2004	05/04/2004	R$0.00
Interest on equity	29/12/2003	05/04/2004	R$0.01
Interest on equity	14/08/2003	06/10/2003	R$0.00
Dividend	20/03/2003	04/04/2003	R$0.01
Interest on equity	13/12/2002	10/01/2003	R$0.01
Dividend	28/03/2002	15/04/2002	R$0.00
Dividend	17/08/2001	05/09/2001	R$0.00
Dividend	23/03/2001	04/04/2001	R$0.01
Dividend	25/08/2000	05/09/2000	R$0.00
Dividend	14/04/2000	02/05/2000	R$0.01
Interest on equity	19/11/2015	—	R$0.06
Dividend	30/09/2015	—	R$0.16
Interest on equity	04/09/2015	—	R$0.06
Interest on equity	15/05/2015	—	R$0.06
Dividend	13/03/2015	—	R$0.30
Interest on equity	13/03/2015	—	R$0.06
Interest on equity	15/08/2014	—	R$0.05
Interest on equity	16/05/2014	—	R$0.05
Interest on equity	21/03/2014	—	R$0.05
Dividend	21/03/2014	—	R$0.07
Interest on equity	14/11/2013	—	R$0.05
Interest on equity	17/05/2013	—	R$0.05
Interest on equity	11/05/2012	—	R$0.05
Interest on equity	19/03/2012	—	R$0.06
Interest on equity	18/11/2011	—	R$0.05
Interest on equity	19/08/2011	—	R$0.06
Dividend	25/03/2011	—	R$0.07
Interest on equity	25/03/2011	—	R$0.05
Interest on equity	19/11/2010	—	R$0.04
Interest on equity	21/05/2010	—	R$0.05
Interest on equity	21/11/2008	—	R$0.71
Interest on equity	23/05/2008	—	R$0.44
Interest on equity	23/05/2008	—	R$0.24
Dividend	19/11/1999	—	R$0.00
Dividend	19/03/1999	—	R$0.00
Dividend	31/08/1998	—	R$0.00
Dividend	25/04/1997	—	R$0.00
Dividend	28/02/1996	—	R$0.00

Splits, share consolidations and bonus shares
Event	Last day to own	Ratio
Bonus shares	20/03/2019	25.00% in shares
Split	24/04/2014	11 for 10
Split	25/04/2013	11 for 10
Split	26/04/2012	11 for 10
Split	24/02/2010	20 for 1
Share consolidation	08/06/2005	1 for 100

About Alpargatas

Sector: Consumo Cíclico
Segment: Calçados
Listing segment: Level 1
Tag along: 80.00%
Free float: 20.06%
Shares issued: 339.51m ordinary · 343.55m preferred
Average daily trading: R$94.6k
Listed since: 20/07/1977
CNPJ: 61.079.117/0001-05

A Alpargatas S.A. (ALPA3) é uma companhia brasileira de bens de consumo com atuação histórica em calçados e marcas de lifestyle, com presença relevante no mercado doméstico e operações internacionais. A empresa desenvolve, produz e distribui produtos por canais físicos e digitais, incluindo varejo próprio, franquias, atacado e e-commerce. O portfólio é concentrado em marcas reconhecidas e depende de gestão de coleção, posicionamento de preço e eficiência da cadeia de suprimentos. No setor de consumo cíclico, a performance operacional é sensível a renda disponível, comportamento de compra, câmbio e custos de matérias-primas e frete. A companhia enfrenta concorrência de marcas locais e globais e precisa equilibrar crescimento de volume, margem e investimento em marca. O modelo de negócio combina escala industrial, distribuição multicanal e expansão internacional seletiva, com foco em rentabilidade e giro de capital em uma indústria de moda e calçados de alta dinâmica competitiva.

Investor website

ShareholdersAs of 31/12/2026, from the Formulário de Referência filed with the CVM.
Shareholder	Ordinary	Preferred	Total
Itaúsa S.A.Controlling	43.67%	16.37%	29.94%
Cambuhy Alpa Holding LtdaControlling	35.80%	11.88%	23.77%
SILVIO TINI DE ARAÚJO	6.01%	8.38%	7.20%
MS ALPA PARTICIPAÇÕES LTDAControlling	0.00%	12.15%	6.11%
BONSUCEX HOLDING S.A.	3.86%	8.24%	6.06%
Alpa Fundo de Investimentos em AçõesControlling	7.87%	1.80%	4.82%
Outros	2.79%	40.07%	21.54%
Ações Tesouraria	0.00%	1.12%	0.57%

Questions about ALPA3

How much is ALPA3 today?

ALPA3 is at R$10.21 (2.82% on the day), last traded on 01/10/2026.

How much did ALPA3 pay in dividends in 2025?

ALPA3 paid R$1.69 per share in 2025, a dividend yield of 16.32%.

What are the P/E and P/B of ALPA3?

ALPA3 trades at a P/E of 9.95 and a P/B of 1.93.

How much did ALPA3 return in 12 months?

ALPA3 returned 13.85% in 12 months, with annualised volatility of 37.36% and a largest drawdown of -31.06%.

What sector is ALPA3 in?

Alpargatas is in the Consumo Cíclico sector, Calçados segment.