B3 · BRL

BRSR3

Banco do Estado do Rio Grande do Sul SA

R$18.54+0.49% (R$0.09)Updated 10/1/26, 2:16 AM

Day's range: R$18.47 – R$18.64
Day's volume: R$77.9K
52-week range: R$13.63 – R$20.10

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BRSR3 in numbers

Market cap: R$7.1B

P/E: 4.95

P/B: 0.64

Dividend yield (12m): 8.29%

The 12-month dividend yield of BRSR3 is 8.29%, above its 5-year average of 7.89%.

BRSR3 price history

10/01/202509/30/2026

Compare with

BRSR3 risk and return

Monthly closes adjusted for splits and distributions.

Metric	12 months	36 months	60 months
Return	+43.83%	+80.15%	+109.25%
Volatility (annualized)	23.89%	23.88%	23.23%
Largest drawdown	-11.67%	-23.65%	-23.65%
Positive months	7/12	22/36	34/60

How much did investing in BRSR3 return?

Amount invested

R$1,000.00 invested on 09/01/2021 would be worth R$2,092.50 today.

Value today in BRSR3: R$2,092.50

Return over the period: +109.25%

Return per year: +15.92%

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.

BRSR3 fundamentals

Valuation

P/E
4.95
P/B
0.64
EV/EBITDA
—
EV/EBIT
—
EV/Revenue
0.31
P/EBIT
—
P/S
0.31
P/OCF
0.48
P/FCF
6.13
Earnings yield
—
PEG ratio
0.13
Earnings per share
R$3.75
Book value per share
R$28.96

Debt

Net debt
—
Net debt/EBITDA
—
Net debt/Equity
—
Debt/Equity
—
Current ratio
1.07
Quick ratio
0.13
Cash ratio
—

Efficiency

Gross margin
28.36%
EBITDA margin
—
Operating margin
—
Net margin
7.10%
Asset turnover
0.13

Profitability

ROE
12.93%
ROA
0.95%
ROIC
—
Payout
41.06%

Growth

Revenue CAGR (5 years)
—
Earnings CAGR (5 years)
—
Revenue growth (year)
32.24%
Earnings growth (year)
120.43%
Revenue growth (quarter)
22.23%
Earnings growth (quarter)
39.29%

What is BRSR3's fair price?

Two classic value formulas, with today's numbers. The current price is R$18.54.

Graham's fair price: R$49.40; 166.48% above the price

√(22.50 × R$3.75 × R$28.96)

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$16.79; 9.43% below the price

R$1.01 (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.

BRSR3'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	4.28	6.55	5.60	5.20	4.47	10.39	7.41	9.64
P/B	0.60	0.46	0.57	0.46	0.53	0.78	1.20	1.19
Dividend yield	6.92%	8.54%	6.62%	8.23%	9.12%	3.36%	5.89%	9.81%
Earnings per share	R$3.92	R$1.78	R$2.48	R$2.06	R$2.65	R$1.52	R$3.10	R$2.22
Book value per share	R$28.03	R$25.48	R$24.12	R$23.28	R$22.22	R$20.17	R$19.09	R$18.01
ROE	13.99%	6.99%	10.26%	8.85%	11.93%	7.51%	16.26%	12.32%
Gross margin	29.31%	33.66%	31.00%	30.36%	53.12%	60.03%	56.18%	53.77%
Net margin	7.39%	4.43%	6.79%	6.47%	14.12%	8.40%	15.74%	10.74%

BRSR3's financial statements

Line	2025	2024	2023	2022	2021	2020
Net revenue	R$21.7B	R$16.4B	R$14.9B	R$13B	R$7.7B	R$7.4B
Cost of revenue	-R$15.3B	-R$10.9B	-R$10.3B	-R$9.1B	-R$3.6B	-R$3B
Gross profit	R$6.4B	R$5.5B	R$4.6B	R$4B	R$4.1B	R$4.4B
EBITDA	—	—	—	—	—	—
EBIT	—	—	—	—	—	—
Financial result	—	—	—	—	—	—
Income before tax	R$2B	R$761M	R$1.2B	R$760.4M	R$1.5B	R$783.6M
Income tax	-R$298.8M	-R$33.2M	-R$165.2M	R$81.8M	-R$392.6M	-R$163.8M
Net income	R$1.6B	R$727.8M	R$1B	R$842.2M	R$1.1B	R$619.9M

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

BRSR3 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
BRSR3Banco Estado Do Rio Grande Do Sul	4.95	0.64	8.29%	12.93%	R$7.1B
ITUB4ITAU UNIBANCO HOLDING S.A.	10.43	2.24	7.15%	21.50%	R$511.8B
ITUB3ITAU UNIBANCO HOLDING S.A.	11.41	2.45	6.53%	21.50%	R$511.8B
BPAC3BCO BTG PACTUAL S.A.	15.68	3.48	1.91%	22.20%	R$271.9B
BPAC5BCO BTG PACTUAL S.A.	13.14	2.92	2.28%	22.20%	R$271.9B
BBDC4BCO BRADESCO S.A.	7.92	1.08	6.80%	13.66%	R$183.9B
BBDC3BCO BRADESCO S.A.	6.94	0.95	7.05%	13.66%	R$183.9B

Does BRSR3 pay dividends?

Dividend yield per year

2.71%2017
9.81%2018
5.89%2019
3.36%2020
9.12%2021
8.23%2022
6.62%2023
8.54%2024
6.92%2025
6.32%2026

Payment history
Type	Last day to own	Payment	Per share
Interest on equity	09/11/2026	09/28/2026	R$0.22
Interest on equity	06/12/2026	06/26/2026	R$0.22
Dividend	05/04/2026	05/18/2026	R$0.07
Interest on equity	03/13/2026	03/26/2026	R$0.22
Interest on equity	12/26/2025	01/09/2026	R$0.44
Interest on equity	12/12/2025	12/22/2025	R$0.37
Interest on equity	09/12/2025	09/29/2025	R$0.27
Interest on equity	06/12/2025	06/26/2025	R$0.22
Dividend	05/05/2025	05/16/2025	R$0.09
Interest on equity	03/14/2025	03/26/2025	R$0.22
Interest on equity	12/18/2024	12/30/2024	R$0.20
Interest on equity	11/29/2024	12/11/2024	R$0.24

See all 132 distributions

Earlier distributions
Type	Last day to own	Payment	Per share
Interest on equity	09/12/2024	09/27/2024	R$0.12
Interest on equity	06/14/2024	06/27/2024	R$0.12
Dividend	04/30/2024	05/17/2024	R$0.18
Interest on equity	03/15/2024	03/27/2024	R$0.12
Interest on equity	09/13/2023	09/29/2023	R$0.17
Interest on equity	06/14/2023	06/29/2023	R$0.34
Dividend	05/03/2023	05/19/2023	R$0.04
Interest on equity	03/15/2023	03/30/2023	R$0.37
Interest on equity	12/14/2022	12/28/2022	R$0.02
Interest on equity	09/12/2022	09/28/2022	R$0.11
Interest on equity	06/10/2022	06/28/2022	R$0.38
Dividend	05/02/2022	05/19/2022	R$0.04
Interest on equity	03/16/2022	03/28/2022	R$0.33
Interest on equity	12/15/2021	12/28/2021	R$0.17
Interest on equity	09/03/2021	09/28/2021	R$0.26
Interest on equity	06/02/2021	06/28/2021	R$0.24
Dividend	04/30/2021	05/28/2021	R$0.06
Interest on equity	03/05/2021	03/18/2021	R$0.23
Interest on equity	12/29/2020	01/20/2021	R$0.05
Interest on equity	12/30/2020	01/19/2021	R$0.08
Interest on equity	12/10/2020	12/28/2020	R$0.10
Dividend	06/09/2020	06/22/2020	R$0.18
Interest on equity	03/10/2020	03/30/2020	R$0.25
Interest on equity	11/11/2019	12/09/2019	R$0.26
Interest on equity	08/12/2019	09/27/2019	R$0.27
Interest on equity	05/16/2019	06/24/2019	R$0.28
Dividend	06/05/2019	06/19/2019	R$0.08
Dividend	04/30/2019	05/30/2019	R$0.03
Interest on equity	03/07/2019	03/28/2019	R$0.31
Interest on equity	12/26/2018	01/15/2019	R$0.11
Interest on equity	12/06/2018	12/26/2018	R$0.07
Interest on equity	11/23/2018	11/30/2018	R$0.86
Interest on equity	10/29/2018	11/14/2018	R$0.17
Interest on equity	08/15/2018	09/27/2018	R$0.22
Interest on equity	05/14/2018	06/29/2018	R$0.22
Dividend	05/03/2018	05/30/2018	R$0.05
Interest on equity	02/26/2018	03/28/2018	R$0.21
Interest on equity	01/04/2018	02/20/2018	R$0.30
Interest on equity	11/13/2017	12/28/2017	R$0.07
Interest on equity	08/14/2017	09/28/2017	R$0.20
Interest on equity	05/15/2017	06/28/2017	R$0.20
Dividend	05/04/2017	05/31/2017	R$0.04
Interest on equity	03/13/2017	03/30/2017	R$0.20
Interest on equity	12/14/2016	12/29/2016	R$0.04
Dividend	12/14/2016	12/29/2016	R$0.04
Interest on equity	09/06/2016	09/29/2016	R$0.19
Interest on equity	06/13/2016	06/30/2016	R$0.19
Interest on equity	03/10/2016	03/29/2016	R$0.19
Interest on equity	12/03/2015	12/28/2015	R$0.25
Interest on equity	09/09/2015	09/28/2015	R$0.23
Interest on equity	06/02/2015	06/23/2015	R$0.21
Dividend	04/30/2015	05/29/2015	R$0.03
Dividend	04/30/2015	05/28/2015	R$0.03
Interest on equity	03/04/2015	03/30/2015	R$0.19
Interest on equity	11/25/2014	12/17/2014	R$0.17
Interest on equity	06/04/2014	06/20/2014	R$0.16
Dividend	04/30/2014	05/23/2014	R$0.17
Dividend	04/30/2014	05/22/2014	R$0.17
Interest on equity	02/25/2014	03/21/2014	R$0.16
Interest on equity	11/22/2013	12/18/2013	R$0.15
Interest on equity	06/04/2013	06/27/2013	R$0.02
Interest on equity	06/04/2013	06/27/2013	R$0.15
Dividend	04/30/2013	05/28/2013	R$0.08
Interest on equity	03/04/2013	03/27/2013	R$0.15
Interest on equity	11/26/2012	12/14/2012	R$0.15
Interest on equity	09/03/2012	09/27/2012	R$0.15
Dividend	04/30/2012	05/25/2012	R$0.16
Interest on equity	03/02/2012	03/28/2012	R$0.16
Dividend	12/14/2011	12/26/2011	R$0.15
Interest on equity	11/22/2011	12/16/2011	R$0.14
Interest on equity	09/01/2011	09/28/2011	R$0.14
Interest on equity	05/20/2011	06/21/2011	R$0.14
Dividend	04/29/2011	05/31/2011	R$0.06
Interest on equity	03/04/2011	03/31/2011	R$0.14
Dividend	12/15/2010	12/29/2010	R$0.16
Interest on equity	12/01/2010	12/21/2010	R$0.13
Interest on equity	09/01/2010	09/30/2010	R$0.13
Interest on equity	06/04/2010	06/30/2010	R$0.12
Dividend	04/30/2010	05/31/2010	R$0.06
Interest on equity	03/05/2010	03/31/2010	R$0.12
Interest on equity	12/01/2009	12/21/2009	R$0.12
Interest on equity	09/01/2009	09/28/2009	R$0.11
Dividend	03/31/2009	04/24/2009	R$0.09
Interest on equity	03/11/2009	03/31/2009	R$0.12
Interest on equity	06/09/2008	06/30/2008	R$0.10
Dividend	03/25/2008	04/23/2008	R$0.32
Dividend	12/14/2007	12/27/2007	R$0.17
Interest on equity	06/28/2007	07/06/2007	R$0.00
Interest on equity	04/10/2007	05/29/2007	R$0.00
Interest on equity	12/06/2006	12/20/2006	R$0.00
Interest on equity	05/18/2006	05/30/2006	R$0.00
Interest on equity	03/24/2006	04/03/2006	R$0.00
Interest on equity	03/20/2006	03/30/2006	R$0.00
Interest on equity	12/29/2005	01/13/2006	R$0.00
Interest on equity	08/23/2005	08/30/2005	R$0.00
Interest on equity	03/23/2005	04/04/2005	R$0.00
Interest on equity	02/15/2005	02/24/2005	R$0.00
Interest on equity	03/25/2004	04/01/2004	R$0.00
Interest on equity	12/19/2003	12/30/2003	R$0.00
Interest on equity	12/10/2003	12/19/2003	R$0.00
Interest on equity	03/25/2003	03/31/2003	R$0.00
Interest on equity	03/19/2003	03/28/2003	R$0.00
Other	11/23/2018	—	R$0.86
Interest on equity	09/03/2014	—	R$0.17
Interest on equity	09/03/2013	—	R$0.15
Dividend	12/18/2012	—	R$0.10
Interest on equity	06/04/2012	—	R$0.16
Interest on equity	06/05/2009	—	R$0.12
Interest on equity	12/12/2008	—	R$0.10
Interest on equity	09/09/2008	—	R$0.10
Interest on equity	10/22/2003	—	R$0.00
Interest on equity	11/01/2002	—	R$0.00
Interest on equity	04/23/2002	—	R$0.00
Interest on equity	03/21/2002	—	R$0.00
Interest on equity	10/24/2001	—	R$0.00
Interest on equity	12/13/2000	—	R$0.00
Interest on equity	01/06/2000	—	R$0.00
Interest on equity	12/17/1999	—	R$0.00
Dividend	08/20/1996	—	R$0.00
Dividend	02/14/1996	—	R$0.00

Splits, reverse splits and bonus shares
Event	Last day to own	Ratio
Split	07/24/2007	20 for 3
Reverse split	07/23/2007	1 for 150
Split	06/22/2007	5 for 4
Bonus shares	06/21/2007	-99.33% in shares

About Banco Estado Do Rio Grande Do Sul

Sector: Serviços Financeiros
Segment: Bancos
Listing segment: Level 1
Tag along: 80.00%
Free float: 50.61%
Shares issued: 205.06M common · 203.91M preferred
Average daily trading: R$71K
Listed since: 09/16/1931
CNPJ: 92.702.067/0001-96

O Banco do Estado do Rio Grande do Sul S.A. (Banrisul) é uma instituição financeira de economia mista controlada pelo governo estadual, com forte presença no Sul do Brasil e foco histórico em varejo bancário, crédito, cartões e serviços para o setor público. A companhia opera como banco múltiplo, com atuação em pessoas físicas, pequenas e médias empresas, agronegócio e administração de folhas de pagamento de servidores. Além da rede de agências e canais digitais, o grupo mantém operações em cartões, consórcios, corretagem e serviços financeiros complementares. O desempenho é influenciado por dinâmica econômica regional, qualidade da carteira de crédito, juros e política de distribuição de resultados. As ações são negociadas na B3 pelos tickers BRSR3, BRSR5 e BRSR6, sendo o BRSR3 representativo das ordinárias.

Investor website

ShareholdersAs of 12/31/2026, from the Formulário de Referência filed with the CVM.
Shareholder	Common	Preferred	Total
Governo do Estado do Rio Grande do SulControlling	98.13%	0.37%	49.39%
Outros	1.87%	99.63%	50.61%

Questions about BRSR3

How much is BRSR3 today?

BRSR3 is at R$18.54 (0.49% on the day), last traded on 10/01/2026.

How much did BRSR3 pay in dividends in 2025?

BRSR3 paid R$1.16 per share in 2025, a dividend yield of 6.92%.

What are the P/E and P/B of BRSR3?

BRSR3 trades at a P/E of 4.95 and a P/B of 0.64.

How much did BRSR3 return in 12 months?

BRSR3 returned 43.83% in 12 months, with annualized volatility of 23.89% and a largest drawdown of -11.67%.

What sector is BRSR3 in?

Banco Estado Do Rio Grande Do Sul is in the Serviços Financeiros sector, Bancos segment.