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B3 · BRL

GRND3

Grendene S.A.

R$3.80-0.52% (-R$0.02)
Day's range
R$3.80 – R$3.87
Day's volume
R$9.9m
52-week range
R$3.40 – R$5.68

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See how GRND3 weighs in your net worth, what it has paid you and how far it is from your target allocation.

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GRND3 in numbers

Market cap
R$3.4bn
P/E
5.92
P/B
1.07
Dividend yield (12m)
56.08%
Net debt/EBITDA
-0.98

The 12-month dividend yield of GRND3 is 56.08%, above its 5-year average of 11.31%.

GRND3 price history

01/10/202530/09/2026
Compare with

GRND3 risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return-2.23%-2.82%-10.92%
Volatility (annualised)27.01%23.26%25.65%
Largest drawdown-28.02%-28.02%-37.41%
Positive months5/1217/3630/60

How much did investing in GRND3 return?

R$1,000.00 invested on 01/09/2021 would be worth R$812.31 today.

Value today in GRND3
R$812.31
Return over the period
-18.77%
Return per year
-4.07%
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.

GRND3 fundamentals

Valuation

  • P/E
    5.92
  • P/B
    1.07
  • EV/EBITDA
    8.47
  • EV/EBIT
    10.86
  • EV/Revenue
    1.20
  • P/EBIT
    12.11
  • P/S
    1.34
  • P/OCF
    8.94
  • P/FCF
    2.85
  • Earnings yield
    9.21%
  • PEG ratio
    —
  • Earnings per share
    R$0.64
  • Book value per share
    R$3.56

Debt

  • Net debt
    -R$356.1m
  • Net debt/EBITDA
    -0.98
  • Net debt/Equity
    -0.11
  • Debt/Equity
    0.03
  • Current ratio
    3.36
  • Quick ratio
    2.44
  • Cash ratio
    0.77

Efficiency

  • Gross margin
    44.55%
  • EBITDA margin
    14.22%
  • Operating margin
    11.09%
  • Net margin
    22.71%
  • Asset turnover
    0.67

Profitability

  • ROE
    18.04%
  • ROA
    15.16%
  • ROIC
    9.70%
  • Payout
    331.81%

Growth

  • Revenue CAGR (5 years)
    1.67%
  • Earnings CAGR (5 years)
    -0.09%
  • Revenue growth (year)
    -1.68%
  • Earnings growth (year)
    -12.30%
  • Revenue growth (quarter)
    -6.45%
  • Earnings growth (quarter)
    -28.54%

What is GRND3's fair price?

Two classic value formulas, with today's numbers. The current price is R$3.80.

Graham's fair price
R$7.17
88.74% above the price

√(22.50 × R$0.64 × R$3.56)

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$11.95
214.44% above the price

R$0.72 (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.

GRND3 indicators by year

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

Indicator20252024202320222021202020192018
P/E6.445.9911.449.5812.9218.6622.3812.63
P/B1.321.091.741.251.901.793.012.13
EV/EBITDA7.765.3215.2313.3413.7815.5023.1311.49
Dividend yield13.41%8.39%19.62%5.07%10.05%3.72%2.61%10.84%
Earnings per shareR$0.71R$0.81R$0.62R$0.63R$0.67R$0.45R$0.55R$0.65
Book value per shareR$3.50R$4.48R$4.06R$4.84R$4.54R$4.69R$4.08R$3.84
ROE20.44%18.19%15.24%13.02%14.68%9.58%13.44%16.90%
ROIC14.27%17.00%8.96%7.08%13.23%9.84%13.03%21.17%
Gross margin45.24%47.21%44.53%40.11%43.97%46.10%45.61%47.40%
EBITDA margin15.76%23.78%15.14%13.16%20.60%20.95%20.71%22.33%
Net margin24.95%27.97%22.92%22.61%25.66%21.36%23.90%25.09%
Net debt/EBITDA-2.42-1.72-2.08-3.12-2.32-3.53-2.70-2.71

GRND3 financial statements

Line202520242023202220212020
Net revenueR$2.6bnR$2.6bnR$2.4bnR$2.5bnR$2.3bnR$1.9bn
Cost of sales-R$1.4bn-R$1.4bn-R$1.3bn-R$1.5bn-R$1.3bn-R$1bn
Gross profitR$1.2bnR$1.2bnR$1.1bnR$1bnR$1bnR$874.5m
EBITDAR$407.3mR$625mR$368.5mR$330.6mR$482.6mR$397.3m
EBITR$324.9mR$557.6mR$274.9mR$239.1mR$393.5mR$301.2m
Net finance resultR$352.9mR$255.3mR$317mR$336.2mR$159.2mR$137.4m
Profit before taxR$677.8mR$812.8mR$592mR$575.3mR$552.7mR$438.6m
Income tax-R$33m-R$77.6m-R$34.3m-R$7.3mR$48.3m-R$33.4m
Net incomeR$644.8mR$735.2mR$557.7mR$568mR$601mR$405.2m

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

GRND3 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
GRND3Grendene5.921.0756.08%18.04%R$3.4bn
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.9.991.9317.03%19.37%R$8.4bn
MDIA3M.DIAS BRANCO S.A. IND COM DE ALIMENTOS8.640.665.78%7.65%R$5.6bn

Does GRND3 pay dividends?

Dividend yield per year

  • 13.21%2017
  • 10.84%2018
  • 2.61%2019
  • 3.72%2020
  • 10.05%2021
  • 5.07%2022
  • 19.62%2023
  • 8.39%2024
  • 13.41%2025
  • 51.26%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend21/08/202609/09/2026R$0.03
Interest on equity21/08/202609/09/2026R$0.03
Dividend26/12/202509/09/2026R$0.20
Interest on equity21/05/202610/06/2026R$0.03
Dividend21/05/202610/06/2026R$0.03
Dividend26/12/202510/06/2026R$0.22
Dividend24/12/202520/05/2026R$0.31
Dividend23/04/202613/05/2026R$0.00
Interest on equity23/04/202613/05/2026R$0.09
Dividend26/12/202518/03/2026R$0.22
Dividend24/12/202525/02/2026R$0.33
Dividend26/12/202514/01/2026R$0.44
See all 112 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend11/12/202526/12/2025R$0.06
Interest on equity11/12/202526/12/2025R$0.05
Interest on equity21/11/202510/12/2025R$0.07
Dividend21/11/202510/12/2025R$0.00
Dividend21/08/202510/09/2025R$0.11
Dividend14/05/202529/05/2025R$0.06
Dividend22/04/202507/05/2025R$0.13
Interest on equity22/04/202507/05/2025R$0.12
Dividend21/11/202405/12/2024R$0.09
Interest on equity21/11/202405/12/2024R$0.06
Dividend21/08/202404/09/2024R$0.01
Dividend21/05/202405/06/2024R$0.08
Interest on equity02/05/202415/05/2024R$0.11
Dividend02/05/202415/05/2024R$0.06
Dividend21/11/202306/12/2023R$0.04
Interest on equity21/11/202306/12/2023R$0.02
Dividend21/08/202306/09/2023R$0.02
Dividend22/05/202307/06/2023R$0.08
Interest on equity02/05/202317/05/2023R$0.12
Dividend02/05/202317/05/2023R$1.11
Dividend03/11/202223/11/2022R$0.07
Interest on equity03/11/202223/11/2022R$0.04
Dividend11/08/202231/08/2022R$0.01
Interest on equity11/08/202231/08/2022R$0.02
Dividend09/05/202225/05/2022R$0.05
Interest on equity09/05/202225/05/2022R$0.04
Interest on equity02/05/202218/05/2022R$0.08
Dividend02/05/202218/05/2022R$0.00
Dividend16/12/202128/12/2021R$0.08
Dividend05/11/202124/11/2021R$0.15
Dividend05/08/202118/08/2021R$0.04
Dividend10/05/202119/05/2021R$0.09
Dividend22/04/202112/05/2021R$0.39
Interest on equity22/04/202112/05/2021R$0.12
Dividend05/11/202018/11/2020R$0.02
Dividend05/05/202020/05/2020R$0.02
Interest on equity05/05/202020/05/2020R$0.12
Dividend22/04/202006/05/2020R$0.02
Interest on equity22/04/202006/05/2020R$0.12
Dividend04/11/201919/11/2019R$0.10
Dividend08/08/201921/08/2019R$0.02
Dividend09/05/201922/05/2019R$0.04
Dividend23/04/201908/05/2019R$0.01
Interest on equity23/04/201908/05/2019R$0.14
Dividend05/11/201821/11/2018R$0.05
Dividend06/08/201822/08/2018R$0.04
Dividend07/05/201823/05/2018R$0.30
Interest on equity03/05/201816/05/2018R$0.43
Dividend03/05/201816/05/2018R$0.07
Dividend06/11/201722/11/2017R$0.24
Dividend03/08/201716/08/2017R$0.18
Dividend02/05/201717/05/2017R$0.23
Interest on equity02/05/201717/05/2017R$0.10
Interest on equity12/04/201726/04/2017R$0.43
Dividend12/04/201726/04/2017R$0.06
Dividend27/10/201616/11/2016R$0.25
Dividend02/08/201617/08/2016R$0.15
Dividend03/05/201618/05/2016R$0.17
Interest on equity03/05/201618/05/2016R$0.10
Interest on equity14/04/201627/04/2016R$0.33
Dividend14/04/201627/04/2016R$0.04
Dividend28/10/201510/11/2015R$0.18
Dividend09/04/201522/04/2015R$0.32
Dividend30/10/201411/11/2014R$0.18
Dividend29/04/201413/05/2014R$0.14
Dividend10/04/201423/04/2014R$0.37
Dividend04/11/201314/11/2013R$0.28
Dividend01/08/201314/08/2013R$0.14
Dividend07/05/201322/05/2013R$0.21
Dividend11/04/201324/04/2013R$0.35
Dividend06/11/201221/11/2012R$0.29
Dividend06/08/201222/08/2012R$0.14
Dividend03/05/201216/05/2012R$0.20
Dividend11/04/201225/04/2012R$0.29
Dividend17/11/201130/11/2011R$0.20
Dividend18/08/201131/08/2011R$0.09
Dividend19/05/201108/06/2011R$0.15
Dividend11/04/201126/04/2011R$0.17
Dividend22/11/201008/12/2010R$0.12
Dividend19/08/201002/09/2010R$0.04
Dividend20/05/201002/06/2010R$0.08
Dividend26/04/201006/05/2010R$0.11
Dividend19/11/200902/12/2009R$0.07
Dividend20/08/200902/09/2009R$0.30
Dividend21/05/200903/06/2009R$0.25
Dividend08/04/200923/04/2009R$0.44
Dividend19/11/200803/12/2008R$0.31
Dividend21/08/200803/09/2008R$0.34
Dividend17/04/200830/04/2008R$0.48
Dividend14/11/200728/11/2007R$0.42
Dividend06/08/200722/08/2007R$0.30
Dividend16/04/200709/05/2007R$0.48
Dividend13/11/200629/11/2006R$0.41
Dividend14/08/200630/08/2006R$0.39
Dividend10/04/200626/04/2006R$0.43
Dividend31/10/200517/11/2005R$0.38
Dividend18/04/200511/05/2005R$0.64
Dividend29/07/2015—R$0.15
Dividend27/04/2015—R$0.22
Dividend31/07/2014—R$0.10
Splits, share consolidations and bonus shares
EventLast day to ownRatio
Split30/05/20183 for 1
Split23/09/20093 for 1

About Grendene

Sector
Consumo Cíclico
Segment
Calçados
Listing segment
Novo Mercado
Tag along
100.00%
Free float
25.59%
Shares issued
902.16m ordinary
Average daily trading
R$10.5m
Listed since
29/10/2004
CNPJ
89.850.341/0001-60

Grendene S.A. é o maior fabricante de calçados do mundo, com operações especializadas na produção de sandálias e calçados em geral. Fundada em 1971 pelos irmãos Alexandre e Pedro Grendene Bartelle, a empresa começou produzindo peças de plástico e evoluiu para se tornar uma potência global no setor calçadista. A Grendene possui um modelo de negócio totalmente integrado, operando cinco unidades industriais com dez fábricas de calçados com capacidade de produzir 250 milhões de pares de sapatos por ano, além de plantas de produção de PVC e moldes. A companhia é proprietária de marcas renomadas como Melissa, Grendha, Zaxy, Rider, Cartago, Ipanema, Pega Forte, Grendene Kids e Zizou, com presença em mais de 100 países. Suas operações estão distribuídas entre Ceará (Sobral, Fortaleza e Crato) e Rio Grande do Sul (Farroupilha), com distribuição logística própria atendendo varejistas tradicionais e não-tradicionais em todo o Brasil e mercados de exportação.

Investor website
ShareholdersAs of 31/12/2026, from the Formulário de Referência filed with the CVM.
ShareholderOrdinaryPreferredTotal
UNION SUPER FUNDO DE INVESTIMENTO FINANCEIRO EM AÇÕESControlling43.39%0.00%43.39%
PEDRO GRENDENE BARTELLEControlling10.40%0.00%10.40%
FIF ACOES PGB - BTG4.62%0.00%4.62%
GIOVANA BARTELLEControlling4.12%0.00%4.12%
ANDRÉ DE CAMARGO BARTELLEControlling3.88%0.00%3.88%
GABRIELLA DE CAMARGO BARTELLEControlling3.85%0.00%3.85%
PEDRO BARTELLEControlling3.83%0.00%3.83%
Outros25.91%0.00%25.91%

Questions about GRND3

How much is GRND3 today?

GRND3 is at R$3.80 (-0.52% on the day), last traded on 30/09/2026.

How much did GRND3 pay in dividends in 2025?

GRND3 paid R$0.62 per share in 2025, a dividend yield of 13.41%.

What are the P/E and P/B of GRND3?

GRND3 trades at a P/E of 5.92 and a P/B of 1.07.

How much did GRND3 return in 12 months?

GRND3 returned -2.23% in 12 months, with annualised volatility of 27.01% and a largest drawdown of -28.02%.

What sector is GRND3 in?

Grendene is in the Consumo Cíclico sector, Calçados segment.