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B3 · BRL

AZZA3

Azzas 2154 SA

R$18.60+7.02% (R$1.22)
Day's range
R$17.40 – R$17.90
Day's volume
R$4.7m
52-week range
R$14.30 – R$30.70

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See how AZZA3 weighs in your net worth, what it has paid you and how far it is from your target allocation.

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AZZA3 in numbers

Market cap
R$3.7bn
P/E
11.85
P/B
0.48
Dividend yield (12m)
13.31%
Net debt/EBITDA
3.13

The 12-month dividend yield of AZZA3 is 13.31%, above its 5-year average of 4.24%.

AZZA3 price history

01/10/202501/10/2026
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AZZA3 risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return-32.07%-65.04%-71.15%
Volatility (annualised)34.67%45.50%42.66%
Largest drawdown-46.51%-74.59%-83.68%
Positive months3/1211/3623/60

How much did investing in AZZA3 return?

R$1,000.00 invested on 01/10/2021 would be worth R$302.78 today.

Value today in AZZA3
R$302.78
Return over the period
-69.72%
Return per year
-21.26%
In the Ibovespa
R$1,808.65

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

AZZA3 fundamentals

Valuation

  • P/E
    11.85
  • P/B
    0.48
  • EV/EBITDA
    5.65
  • EV/EBIT
    10.86
  • EV/Revenue
    0.73
  • P/EBIT
    4.84
  • P/S
    0.32
  • P/OCF
    2.70
  • P/FCF
    4.40
  • Earnings yield
    9.21%
  • PEG ratio
    —
  • Earnings per share
    R$1.57
  • Book value per share
    R$38.94

Debt

  • Net debt
    R$4.6bn
  • Net debt/EBITDA
    3.13
  • Net debt/Equity
    0.57
  • Debt/Equity
    0.71
  • Current ratio
    2.26
  • Quick ratio
    1.55
  • Cash ratio
    0.40

Efficiency

  • Gross margin
    54.60%
  • EBITDA margin
    12.84%
  • Operating margin
    6.69%
  • Net margin
    2.85%
  • Asset turnover
    0.76

Profitability

  • ROE
    4.03%
  • ROA
    2.15%
  • ROIC
    0.00%
  • Payout
    157.73%

Growth

  • Revenue CAGR (5 years)
    39.99%
  • Earnings CAGR (5 years)
    3.88%
  • Revenue growth (year)
    41.05%
  • Earnings growth (year)
    166.66%
  • Revenue growth (quarter)
    -1.59%
  • Earnings growth (quarter)
    -59.21%

What is AZZA3's fair price?

Two classic value formulas, with today's numbers. The current price is R$18.60.

Graham's fair price
R$37.09
99.39% above the price

√(22.50 × R$1.57 × R$38.94)

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$29.35
57.78% above the price

R$1.76 (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.

AZZA3 indicators by year

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

Indicator20252024202320222021202020192018
P/E5.7017.8717.9320.3024.42139.8235.9034.29
P/B0.650.792.453.255.295.047.806.88
EV/EBITDA5.0610.949.5911.9415.1539.6418.8720.53
Dividend yield9.84%3.77%5.36%1.83%0.42%1.06%2.13%2.28%
Earnings per shareR$4.41R$1.65R$3.60R$3.85R$3.14R$0.49R$1.78R$1.61
Book value per shareR$38.63R$37.39R$26.39R$24.09R$14.50R$13.54R$8.20R$8.01
ROE11.42%4.43%13.64%16.00%21.69%3.60%21.73%20.05%
ROIC9.43%0.00%17.14%19.05%21.39%5.77%27.19%27.34%
Gross margin54.96%53.28%54.24%53.94%52.63%47.47%46.19%46.55%
EBITDA margin15.53%9.53%16.13%16.92%19.64%10.89%18.07%15.21%
Net margin7.71%4.08%8.24%10.03%11.81%3.05%9.66%9.34%
Net debt/EBITDA2.233.290.42-0.100.470.42-0.32-0.54

AZZA3 financial statements

Line202520242023202220212020
Net revenueR$11.8bnR$8.4bnR$4.8bnR$4.2bnR$2.9bnR$1.6bn
Cost of sales-R$5.3bn-R$3.9bn-R$2.2bn-R$2bn-R$1.4bn-R$835.8m
Gross profitR$6.5bnR$4.5bnR$2.6bnR$2.3bnR$1.5bnR$755.2m
EBITDAR$1.8bnR$798.5mR$781.7mR$716.2mR$574.3mR$173.2m
EBITR$1.1bnR$383.6mR$558.8mR$550.1mR$468.5mR$92.1m
Net finance result-R$781.9m-R$393.7m-R$182.8m-R$77.3m-R$64.7m-R$37.6m
Profit before taxR$356.3m-R$10.1mR$375.9mR$472.9mR$403.9mR$54.6m
Income taxR$554.9mR$348.6mR$22.7m-R$50.3m-R$60.1m-R$6m
Net incomeR$911.2mR$341.7mR$399.4mR$424.7mR$345.2mR$48.6m

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

AZZA3 against its sector

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

StockP/EP/BDividend yield (12m)ROEMarket cap
AZZA3Azzas 215411.850.4813.31%4.03%R$3.7bn
ABEV3AMBEV S.A.14.642.695.51%18.40%R$237.8bn
MBRF3MBRF363.492.030.00%3.20%R$23.2bn
NATU3NATURA COSMETICOS S.A.-1.320.620.00%-47.14%R$9.3bn
ALPA4ALPARGATAS S.A.13.822.6812.66%19.37%R$8.3bn
ALPA3ALPARGATAS S.A.9.951.9317.10%19.37%R$8.3bn
MDIA3M.DIAS BRANCO S.A. IND COM DE ALIMENTOS8.560.655.83%7.65%R$5.6bn

Does AZZA3 pay dividends?

Dividend yield per year

  • 3.34%2017
  • 2.28%2018
  • 2.13%2019
  • 1.06%2020
  • 0.42%2021
  • 1.83%2022
  • 5.36%2023
  • 3.77%2024
  • 9.84%2025
  • 0.00%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend19/12/202530/12/2025R$1.58
Dividend21/11/202501/12/2025R$0.89
Interest on equity06/12/202419/12/2024R$0.58
Dividend10/07/202422/07/2024R$0.54
Dividend10/11/202328/11/2023R$0.30
Interest on equity10/11/202328/11/2023R$0.38
Interest on equity10/11/202328/11/2023R$0.41
Interest on equity10/11/202328/11/2023R$0.78
Interest on equity30/06/202301/09/2023R$0.85
Interest on equity16/12/202230/01/2023R$0.75
Dividend29/04/202228/12/2022R$0.46
Interest on equity01/07/202214/07/2022R$0.63
See all 66 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Interest on equity03/12/202114/01/2022R$0.34
Interest on equity01/07/202130/07/2021R$0.30
Dividend29/04/202130/07/2021R$0.03
Dividend29/10/202023/12/2020R$0.23
Interest on equity29/10/202023/12/2020R$0.30
Interest on equity03/12/201908/01/2020R$0.20
Dividend04/10/201915/10/2019R$0.08
Interest on equity27/06/201925/07/2019R$0.22
Dividend26/02/201902/04/2019R$0.83
Interest on equity21/12/201815/01/2019R$0.23
Dividend08/10/201822/10/2018R$0.28
Interest on equity29/06/201825/07/2018R$0.23
Dividend23/05/201808/06/2018R$0.51
Dividend21/12/201705/01/2018R$0.23
Dividend04/09/201727/09/2017R$0.99
Interest on equity30/06/201728/07/2017R$0.24
Dividend28/04/201715/05/2017R$0.60
Interest on equity15/12/201629/12/2016R$0.25
Interest on equity24/06/201615/07/2016R$0.25
Dividend29/04/201620/05/2016R$0.21
Interest on equity17/06/201530/06/2015R$0.11
Dividend24/04/201515/05/2015R$0.40
Interest on equity16/12/201430/12/2014R$0.03
Interest on equity20/06/201430/06/2014R$0.11
Interest on equity27/12/201331/01/2014R$0.09
Interest on equity18/12/201330/12/2013R$0.02
Dividend29/07/201302/09/2013R$0.15
Interest on equity28/06/201331/07/2013R$0.10
Interest on equity28/12/201231/01/2013R$0.03
Interest on equity29/06/201231/07/2012R$0.09
Dividend03/12/2021—R$0.26
Dividend03/12/2019—R$0.08
Dividend30/04/2019—R$0.20
Dividend20/04/2018—R$0.03
Interest on equity21/12/2017—R$0.23
Dividend29/09/2016—R$0.13
Interest on equity15/12/2015—R$0.09
Interest on equity15/12/2015—R$0.11
Dividend03/08/2015—R$0.11
Interest on equity17/06/2015—R$0.07
Interest on equity16/12/2014—R$0.11
Dividend28/07/2014—R$0.12
Interest on equity20/06/2014—R$0.03
Dividend25/04/2014—R$0.24
Interest on equity27/12/2013—R$0.10
Interest on equity28/06/2013—R$0.02
Dividend30/04/2013—R$0.23
Interest on equity28/12/2012—R$0.09
Dividend30/07/2012—R$0.08
Interest on equity29/06/2012—R$0.04
Dividend24/04/2012—R$0.07
Interest on equity29/12/2011—R$0.09
Interest on equity29/12/2011—R$0.02
Interest on equity30/06/2011—R$0.10

About Azzas 2154

Sector
Consumo Cíclico
Segment
Tecidos, Vestuário e Calçados
Listing segment
Novo Mercado
Tag along
100.00%
Free float
63.32%
Shares issued
206.49m ordinary
Average daily trading
R$45.1m
Ibovespa weight
0.09%
Listed since
02/02/2011
CNPJ
16.590.234/0001-76

A Azzas 2154 S.A. atua no setor de moda e calcados com operacao multimarcas no Brasil e no exterior. A companhia foi formada a partir da combinacao de negocios entre Arezzo&Co e Grupo Soma e negocia acoes na B3 sob o ticker AZZA3. Seu portifolio inclui marcas de calcados, acessorios e vestuario, com canais de venda em franquias, lojas proprias e comercio eletronico. Entre as principais bandeiras estao Arezzo, Schutz, Anacapri, Reserva, Farm, Animale, Hering e outras marcas de nicho em diferentes faixas de publico e preco. A estrutura operacional combina desenvolvimento de produto, distribuicao, gestao de marcas e plataforma digital de vendas. A sede da companhia esta em Belo Horizonte, com presenca em pontos de venda no Brasil e em mercados internacionais selecionados.

Investor website
ShareholdersAs of 31/12/2026, from the Formulário de Referência filed with the CVM.
ShareholderOrdinaryPreferredTotal
ALEXANDRE CAFÉ BIRMANControlling10.40%0.00%10.40%
WESTWOOD INVESTMENTS, LLC9.50%0.00%9.50%
FIDELITY MANAGEMENT & RESEARCH (FMR)5.04%0.00%5.04%
ROBERTO LUIZ JATAHY GONÇALVESControlling4.41%0.00%4.41%
CLAUDIA JATAHY GONÇALVESControlling4.40%0.00%4.40%
ANDERSON LEMOS BIRMANControlling2.69%0.00%2.69%
ALLAN DE LIMA BIRMANControlling2.03%0.00%2.03%
ANDRÉ DE LIMA BIRMANControlling2.03%0.00%2.03%
AUGUSTO DE LIMA BIRMANControlling2.03%0.00%2.03%
PATRICIA CAFÉ BIRMAN FERRAZControlling2.03%0.00%2.03%
KATIA FERREIRA DE BARROSControlling1.97%0.00%1.97%
GISELLA JATAHY GONCALVESControlling1.46%0.00%1.46%
MARCELLO RIBEIRO BASTOSControlling0.94%0.00%0.94%
CRISTIANA BARROS DE OLIVERIA ABDALLA0.42%0.00%0.42%
MARIA CÉLIA ALMEIDA DO AMARAL OSORIO0.25%0.00%0.25%
ALBERTO DO AMARAL OSORIO FILHO0.22%0.00%0.22%
ANTONIO CARLOS BRANT DE CARVALHO JUNQUEIRA0.21%0.00%0.21%
NATALIA DI ROCCO VOZZA JUNQUEIRA0.21%0.00%0.21%
MARCUS MARQUES MANHÃES0.15%0.00%0.15%
DANIELA FREITAS DE OLIVEIRA VERD0.14%0.00%0.14%
LUIZ FELIPE PEDROSA VERDI0.14%0.00%0.14%
ALISSON SUZZIM CALGAROTO0.12%0.00%0.12%
KÁTIA ROSANE DE ARAÚJO ALFRADIQUE0.10%0.00%0.10%
GABRIEL SILVA LOBO LEITE0.09%0.00%0.09%
IZABEL YUNES MORAES0.08%0.00%0.08%
TIAGO HEINZEN DOWSLEY0.08%0.00%0.08%
GUSTAVO RUDGE DE OLIVEIRA FONSECA0.08%0.00%0.08%
PAULO SERGIO DE BRITO RODRIGUES0.06%0.00%0.06%
FÁBIO HENRIQUE PITTA DE MELLO BARRETO0.06%0.00%0.06%
RODRIGO CARDOZO MARTINS0.05%0.00%0.05%
TACIANA DE ABREU E SILVA0.03%0.00%0.03%
TATIANA ARAÚJO DE ABREU VIANA0.03%0.00%0.03%
GISELLI LESSA LOPARDI0.03%0.00%0.03%
FLAVIA FONSECA MIRANDA0.02%0.00%0.02%
MARTA RODRIGUES NEVES0.02%0.00%0.02%
TIARLE BORGES0.02%0.00%0.02%
LEONARDO DE QUEIROZ CASERTA0.01%0.00%0.01%
Outros46.43%0.00%46.43%
Ações Tesouraria2.09%0.00%2.09%

Questions about AZZA3

How much is AZZA3 today?

AZZA3 is at R$18.60 (7.02% on the day), last traded on 01/10/2026.

How much did AZZA3 pay in dividends in 2025?

AZZA3 paid R$2.48 per share in 2025, a dividend yield of 9.84%.

What are the P/E and P/B of AZZA3?

AZZA3 trades at a P/E of 11.85 and a P/B of 0.48.

How much did AZZA3 return in 12 months?

AZZA3 returned -32.07% in 12 months, with annualised volatility of 34.67% and a largest drawdown of -46.51%.

What sector is AZZA3 in?

Azzas 2154 is in the Consumo Cíclico sector, Tecidos, Vestuário e Calçados segment.