B3 · BRL

ALUP11

Alupar Investimento SA Unit Cons of 1 Sh + 2 Pfd Shs

R$32.66+0.40% (R$0.13)Updated 10/1/26, 7:23 PM

Day's range: R$32.10 – R$32.79
Day's volume: R$30.7M
52-week range: R$30.52 – R$37.14

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ALUP11 in numbers

Market cap: R$11.1B

P/E: 7.76

P/B: 1.12

Dividend yield (12m): 3.31%

Net debt/EBITDA: 5.94

The 12-month dividend yield of ALUP11 is 3.31%, below its 5-year average of 4.50%.

ALUP11 price history

10/02/202510/01/2026

Compare with

ALUP11 risk and return

Monthly closes adjusted for splits and distributions.

Metric	12 months	36 months	60 months
Return	+3.62%	+40.57%	+92.38%
Volatility (annualized)	13.92%	16.04%	15.50%
Largest drawdown	-9.70%	-16.30%	-16.30%
Positive months	6/12	22/36	35/60

How much did investing in ALUP11 return?

Amount invested

R$1,000.00 invested on 09/01/2021 would be worth R$1,868.06 today.

Value today in ALUP11: R$1,868.06

Return over the period: +86.81%

Return per year: +13.31%

In the Ibovespa: R$1,679.06

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

ALUP11 fundamentals

Valuation

P/E
7.76
P/B
1.12
EV/EBITDA
8.99
EV/EBIT
9.53
EV/Revenue
6.52
P/EBIT
3.23
P/S
2.21
P/OCF
6.41
P/FCF
70.30
Earnings yield
10.49%
PEG ratio
0.24
Earnings per share
R$4.21
Book value per share
R$29.25

Debt

Net debt
R$21.6B
Net debt/EBITDA
5.94
Net debt/Equity
1.61
Debt/Equity
2.02
Current ratio
3.17
Quick ratio
3.17
Cash ratio
1.94

Efficiency

Gross margin
65.85%
EBITDA margin
72.59%
Operating margin
68.45%
Net margin
40.21%
Asset turnover
0.14

Profitability

ROE
14.38%
ROA
5.68%
ROIC
7.91%
Payout
25.67%

Growth

Revenue CAGR (5 years)
-6.02%
Earnings CAGR (5 years)
0.59%
Revenue growth (year)
9.89%
Earnings growth (year)
11.92%
Revenue growth (quarter)
15.90%
Earnings growth (quarter)
33.62%

What is ALUP11's fair price?

Two classic value formulas, with today's numbers. The current price is R$32.66.

Graham's fair price: R$52.61; 61.09% above the price

√(22.50 × R$4.21 × R$29.25)

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$19.80; 39.38% below the price

R$1.19 (5-year average) ÷ 6%

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

Graham ignores growth and debt; Bazin assumes past distributions repeat. They are references to compare, not a buy recommendation.

ALUP11's indicators by year

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

Indicator	2025	2024	2023	2022	2021	2020	2019	2018
P/E	25.83	24.06	43.17	28.23	19.00	25.05	27.64	41.67
P/B	2.50	2.23	2.82	2.50	2.12	2.64	3.26	2.57
EV/EBITDA	15.37	14.77	19.26	14.60	9.44	10.71	13.98	18.12
Dividend yield	2.83%	5.08%	5.77%	4.88%	3.92%	2.89%	1.81%	4.42%
Earnings per share	R$1.23	R$1.10	R$0.73	R$1.00	R$1.27	R$1.07	R$1.01	R$0.44
Book value per share	R$12.72	R$11.86	R$11.18	R$11.34	R$11.38	R$10.17	R$8.58	R$7.12
ROE	9.67%	9.26%	6.53%	8.86%	11.15%	10.53%	11.81%	6.18%
ROIC	7.54%	8.95%	6.31%	8.81%	10.85%	10.69%	9.84%	7.10%
Gross margin	69.57%	72.64%	75.91%	81.93%	73.26%	56.04%	53.72%	67.40%
EBITDA margin	75.07%	76.77%	75.87%	78.68%	74.90%	56.25%	55.70%	68.77%
Net margin	27.64%	27.14%	20.96%	23.96%	21.31%	15.34%	19.39%	20.54%
Net debt/EBITDA	5.86	6.27	7.33	6.00	4.04	3.88	4.36	5.68

ALUP11's financial statements

Line	2025	2024	2023	2022	2021	2020
Net revenue	R$4.4B	R$4B	R$3.3B	R$3.8B	R$5.2B	R$6.1B
Cost of revenue	-R$1.3B	-R$1.1B	-R$797.8M	-R$692.7M	-R$1.4B	-R$2.7B
Gross profit	R$3.1B	R$2.9B	R$2.5B	R$3.1B	R$3.8B	R$3.4B
EBITDA	R$3.3B	R$3.1B	R$2.5B	R$3B	R$3.9B	R$3.5B
EBIT	R$3.1B	R$2.9B	R$2.4B	R$2.9B	R$3.8B	R$3.3B
Financial result	-R$871.8M	-R$951.1M	-R$877.4M	-R$966.1M	-R$915.5M	-R$461.7M
Income before tax	R$2.2B	R$1.9B	R$1.5B	R$1.9B	R$2.9B	R$2.9B
Income tax	-R$509.5M	-R$81.6M	-R$329.3M	-R$236M	-R$741.7M	-R$801.3M
Net income	R$1.2B	R$1.1B	R$694.1M	R$918.5M	R$1.1B	R$942.1M

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

ALUP11 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
ALUP11Alupar Investimento S/a	7.76	1.12	3.31%	14.38%	R$11.1B
AXIA3AXIA3	13.25	1.31	3.45%	9.86%	R$157.6B
AXIA7AXIA7	—	—	0.00%	—	R$157.6B
SBSP3CIA SANEAMENTO BASICO EST SAO PAULO	12.07	2.15	12.67%	17.80%	R$96.7B
ENEV3ENEVA S.A	56.68	2.68	0.00%	4.73%	R$54.6B
CPFE3CPFL ENERGIA S.A.	8.90	2.35	8.05%	26.43%	R$53.4B
EQTL3EQUATORIAL S.A.	53.27	1.95	3.91%	3.67%	R$51.1B

Does ALUP11 pay dividends?

Announced payments
Type	Last day to own	Payment	Per share
Dividend	08/13/2026	10/02/2026	R$0.21

Dividend yield per year

3.12%2017
4.42%2018
1.81%2019
2.89%2020
3.92%2021
4.88%2022
5.77%2023
5.08%2024
2.83%2025
2.66%2026

Payment history
Type	Last day to own	Payment	Per share
Dividend	05/14/2026	07/06/2026	R$0.21
Dividend	04/16/2026	06/10/2026	R$0.03
Dividend	12/26/2025	02/12/2026	R$0.33
Dividend	11/13/2025	01/06/2026	R$0.30
Dividend	08/14/2025	10/06/2025	R$0.21
Dividend	05/15/2025	07/08/2025	R$0.21
Dividend	04/16/2025	06/11/2025	R$0.24
Dividend	11/14/2024	01/06/2025	R$0.24
Dividend	08/16/2024	10/03/2024	R$0.18
Dividend	05/16/2024	07/08/2024	R$0.21
Dividend	04/19/2024	07/01/2024	R$0.78
Dividend	11/16/2023	01/04/2024	R$0.12

See all 35 distributions

Earlier distributions
Type	Last day to own	Payment	Per share
Dividend	08/16/2023	10/05/2023	R$0.12
Dividend	05/15/2023	07/05/2023	R$0.12
Dividend	04/17/2023	05/16/2023	R$1.44
Dividend	04/11/2022	11/30/2022	R$0.33
Dividend	04/11/2022	08/31/2022	R$0.45
Dividend	04/11/2022	05/31/2022	R$0.45
Dividend	04/27/2021	11/30/2021	R$0.24
Dividend	04/27/2021	08/30/2021	R$0.30
Dividend	04/27/2021	05/31/2021	R$0.30
Dividend	04/27/2020	11/30/2020	R$0.36
Dividend	04/27/2020	06/17/2020	R$0.33
Dividend	04/29/2019	07/30/2019	R$0.45
Dividend	12/06/2018	12/19/2018	R$0.18
Dividend	04/26/2018	06/20/2018	R$0.33
Dividend	02/01/2018	02/16/2018	R$0.21
Dividend	04/25/2017	07/24/2017	R$0.20
Dividend	04/25/2017	06/26/2017	R$0.31
Dividend	04/20/2016	07/29/2016	R$0.48
Dividend	04/15/2015	05/04/2015	R$1.20
Dividend	10/02/2014	10/17/2014	R$0.48
Dividend	04/16/2014	05/02/2014	R$0.75
Dividend	04/16/2014	05/02/2014	R$0.93
Dividend	04/20/2016	—	R$0.36

Splits, reverse splits and bonus shares
Event	Last day to own	Ratio
Bonus shares	04/16/2025	4.00% in shares
Split	04/22/2024	26 for 25
Split	04/18/2023	26 for 25
Split	04/22/2016	33 for 31

About Alupar Investimento S/a

Listing segment: Level 2
Tag along: Set by the bylaws
Free float: 47.84%
Shares issued: 671.49M common · 317.39M preferred
Average daily trading: R$32.3M
Listed since: 04/24/2013
CNPJ: 08.364.948/0001-38

ShareholdersAs of 12/31/2026, from the Formulário de Referência filed with the CVM.
Shareholder	Common	Preferred	Total
Guarupart Participações Ltda.Controlling	74.71%	0.60%	50.92%
Opportunity HDF Participações S.A.	5.01%	21.22%	10.22%
Sharp Capital Gestora de Recursos Ltda.	1.87%	7.91%	3.81%
PHRONESIS Investimentos Ltda.	1.29%	5.45%	2.62%
CIME Administração e Participações S.A.Controlling	1.83%	0.00%	1.24%
Outros	15.29%	64.83%	31.19%

Questions about ALUP11

How much is ALUP11 today?

ALUP11 is at R$32.66 (0.40% on the day), last traded on 10/01/2026.

How much did ALUP11 pay in dividends in 2025?

ALUP11 paid R$0.90 per share in 2025, a dividend yield of 2.83%.

When is the next ALUP11 dividend?

The next announced payment is R$0.21 per share on 10/02/2026.

What are the P/E and P/B of ALUP11?

ALUP11 trades at a P/E of 7.76 and a P/B of 1.12.

How much did ALUP11 return in 12 months?

ALUP11 returned 3.62% in 12 months, with annualized volatility of 13.92% and a largest drawdown of -9.70%.