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B3 · BRL

AZZA3

Azzas 2154 SA

R$18.70+7.59% (R$1.32)
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$3.7B
P/E
11.91
P/B
0.48
Dividend yield (12m)
13.24%
Net debt/EBITDA
3.13

The 12-month dividend yield of AZZA3 is 13.24%, above its 5-year average of 4.24%.

AZZA3 price history

10/01/202510/01/2026
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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 (annualized)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 10/01/2021 would be worth R$304.41 today.

Value today in AZZA3
R$304.41
Return over the period
-69.56%
Return per year
-21.17%
In the Ibovespa
R$1,794.02

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

AZZA3 fundamentals

Valuation

  • P/E
    11.91
  • 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$4.6B
  • 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$18.70.

Graham's fair price
R$37.09
98.33% 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
56.93% above the price

R$1.76 (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.

AZZA3's indicators by year

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

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's financial statements

Line202520242023202220212020
Net revenueR$11.8BR$8.4BR$4.8BR$4.2BR$2.9BR$1.6B
Cost of revenue-R$5.3B-R$3.9B-R$2.2B-R$2B-R$1.4B-R$835.8M
Gross profitR$6.5BR$4.5BR$2.6BR$2.3BR$1.5BR$755.2M
EBITDAR$1.8BR$798.5MR$781.7MR$716.2MR$574.3MR$173.2M
EBITR$1.1BR$383.6MR$558.8MR$550.1MR$468.5MR$92.1M
Financial result-R$781.9M-R$393.7M-R$182.8M-R$77.3M-R$64.7M-R$37.6M
Income 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 215411.910.4813.24%4.03%R$3.7B
ABEV3AMBEV S.A.14.642.695.51%18.40%R$237.8B
MBRF3MBRF363.492.030.00%3.20%R$23.2B
NATU3NATURA COSMETICOS S.A.-1.320.620.00%-47.14%R$9.3B
ALPA4ALPARGATAS S.A.13.822.6812.66%19.37%R$8.3B
ALPA3ALPARGATAS S.A.9.951.9317.10%19.37%R$8.3B
MDIA3M.DIAS BRANCO S.A. IND COM DE ALIMENTOS8.560.655.83%7.65%R$5.6B

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
Dividend12/19/202512/30/2025R$1.58
Dividend11/21/202512/01/2025R$0.89
Interest on equity12/06/202412/19/2024R$0.58
Dividend07/10/202407/22/2024R$0.54
Dividend11/10/202311/28/2023R$0.30
Interest on equity11/10/202311/28/2023R$0.38
Interest on equity11/10/202311/28/2023R$0.41
Interest on equity11/10/202311/28/2023R$0.78
Interest on equity06/30/202309/01/2023R$0.85
Interest on equity12/16/202201/30/2023R$0.75
Dividend04/29/202212/28/2022R$0.46
Interest on equity07/01/202207/14/2022R$0.63
See all 66 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Interest on equity12/03/202101/14/2022R$0.34
Interest on equity07/01/202107/30/2021R$0.30
Dividend04/29/202107/30/2021R$0.03
Dividend10/29/202012/23/2020R$0.23
Interest on equity10/29/202012/23/2020R$0.30
Interest on equity12/03/201901/08/2020R$0.20
Dividend10/04/201910/15/2019R$0.08
Interest on equity06/27/201907/25/2019R$0.22
Dividend02/26/201904/02/2019R$0.83
Interest on equity12/21/201801/15/2019R$0.23
Dividend10/08/201810/22/2018R$0.28
Interest on equity06/29/201807/25/2018R$0.23
Dividend05/23/201806/08/2018R$0.51
Dividend12/21/201701/05/2018R$0.23
Dividend09/04/201709/27/2017R$0.99
Interest on equity06/30/201707/28/2017R$0.24
Dividend04/28/201705/15/2017R$0.60
Interest on equity12/15/201612/29/2016R$0.25
Interest on equity06/24/201607/15/2016R$0.25
Dividend04/29/201605/20/2016R$0.21
Interest on equity06/17/201506/30/2015R$0.11
Dividend04/24/201505/15/2015R$0.40
Interest on equity12/16/201412/30/2014R$0.03
Interest on equity06/20/201406/30/2014R$0.11
Interest on equity12/27/201301/31/2014R$0.09
Interest on equity12/18/201312/30/2013R$0.02
Dividend07/29/201309/02/2013R$0.15
Interest on equity06/28/201307/31/2013R$0.10
Interest on equity12/28/201201/31/2013R$0.03
Interest on equity06/29/201207/31/2012R$0.09
Dividend12/03/2021—R$0.26
Dividend12/03/2019—R$0.08
Dividend04/30/2019—R$0.20
Dividend04/20/2018—R$0.03
Interest on equity12/21/2017—R$0.23
Dividend09/29/2016—R$0.13
Interest on equity12/15/2015—R$0.09
Interest on equity12/15/2015—R$0.11
Dividend08/03/2015—R$0.11
Interest on equity06/17/2015—R$0.07
Interest on equity12/16/2014—R$0.11
Dividend07/28/2014—R$0.12
Interest on equity06/20/2014—R$0.03
Dividend04/25/2014—R$0.24
Interest on equity12/27/2013—R$0.10
Interest on equity06/28/2013—R$0.02
Dividend04/30/2013—R$0.23
Interest on equity12/28/2012—R$0.09
Dividend07/30/2012—R$0.08
Interest on equity06/29/2012—R$0.04
Dividend04/24/2012—R$0.07
Interest on equity12/29/2011—R$0.09
Interest on equity12/29/2011—R$0.02
Interest on equity06/30/2011—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 common
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 12/31/2026, from the Formulário de Referência filed with the CVM.
ShareholderCommonPreferredTotal
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$18.70 (7.59% on the day), last traded on 10/01/2026.

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 11.91 and a P/B of 0.48.

How much did AZZA3 return in 12 months?

AZZA3 returned -32.07% in 12 months, with annualized 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.