BRF S.A. Logo

BRF S.A.

BRFS3.SA

(1.2)
Stock Price

25,03 BRL

3.36% ROA

12.38% ROE

20.8x PER

Market Cap.

38.461.638.352,00 BRL

148.31% DER

0% Yield

3.28% NPM

BRF S.A. Stock Analysis

BRF S.A. Fundamental Analysis

Fundamental analysis in stock investing is like studying the foundation of a house before buying it. It involves looking at a company's financial health, like its earnings, assets, and debts, to determine if it's a good investment based on its fundamental strength and potential for growth.

BRF S.A. Fundamental Stock Analysis
# Analysis Rating
1 Assets Growth

This company's revenue has experienced steady growth over the last five years, indicating a reliable and prosperous financial trajectory.

2 PBV

The stock's PBV ratio (1.67x) reflects a fair valuation, making it an attractive option for investors seeking balanced opportunities.

3 Graham Number

The Graham number analysis indicates that this company's stock price is likely undervalued, raising prospects for a favorable investment opportunity.

4 Buffet Intrinsic Value

The company's stock seems undervalued (134) by Warren Buffett's formula, indicating a promising investment opportunity as its intrinsic value exceeds the market price.

5 ROE

Negative ROE (-32.56%) indicates poor financial performance, raising concerns about profitability and efficiency in utilizing shareholders' equity.

6 ROA

The stock's ROA (-7.22%) indicates that it's not effectively utilizing its assets to generate profits, making it a less favorable option to invest and earn consistent returns.

7 DER

The company has a high debt to equity ratio (295%), which means it owes a lot of money compared to what it actually owns, making it financially risky.

8 Revenue Growth

Company has experienced no growth in revenue over the past three years, suggesting limited profitability and making it a less desirable investment opportunity.

9 Net Profit Growth

Throughout the last five years, this company's net profit has remained unchanged, indicating a lack of growth and making it a less favorable investment option.

10 Dividend Growth

The company's dividend growth has remained unchanged for three years, signaling a lack of positive momentum and making it a less favorable investment choice.

11 Dividend

No dividends from the company in the past three years raises doubts about its profitability for shareholders.

BRF S.A. Technical Analysis

Technical analysis in stock investing is like reading the patterns on a weather map to predict future weather conditions. It involves studying past stock price movements and trading volumes to make predictions about where a stock's price might go next, without necessarily looking at the company's financial health.

BRF S.A. Technical Stock Analysis
# Analysis Recommendation
1 Awesome Oscillator Sell
2 MACD Buy
3 RSI Hold
4 Stoch RSI Hold

BRF S.A. Price Chart

Financial Statements

Financial statements are like report cards for companies. They show how much money a company makes (income statement), what it owns and owes (balance sheet), and where it spends its money (cash flow statement), helping stock investors understand if a company is healthy and worth investing in.

Income Statements

An income statement for a company is like a scoreboard for its profits and losses. It shows how much money the company made (revenue) and how much it spent to make that money (expenses), helping stock investors see if a company is making a profit or not.

Revenue in stock investing is the total amount of money a company earns from its sales, and it's a key factor that investors consider to assess a company's financial performance and growth potential.

BRF S.A. Revenue
Year Revenue Growth
1999 1.703.939.666
2000 1.830.913.561 6.94%
2001 2.433.661.251 24.77%
2002 2.917.378.051 16.58%
2003 3.809.742.922 23.42%
2004 4.884.545.209 22%
2005 5.141.988.888 5.01%
2006 5.197.209.580 1.06%
2007 6.632.852.412 21.64%
2008 10.728.642.000 38.18%
2009 27.747.467.174 61.33%
2010 22.681.253.000 -22.34%
2011 25.706.238.000 11.77%
2012 28.517.000.000 9.86%
2013 30.521.246.000 6.57%
2014 29.006.843.000 -5.22%
2015 32.196.601.000 9.91%
2016 33.732.866.000 4.55%
2017 33.469.352.000 -0.79%
2018 30.188.421.000 -10.87%
2019 33.446.980.000 9.74%
2020 39.469.700.000 15.26%
2021 48.343.305.000 18.36%
2022 53.805.028.000 10.15%
2023 55.224.824.000 2.57%
2023 53.615.440.000 -3%
2024 59.718.368.000 10.22%

Research and Development Expenses are the costs a company incurs to create and improve its products or services, which can be important for investors to evaluate a company's innovation and potential for future growth.

BRF S.A. Research and Development Expenses
Year Research and Development Expenses Growth
1999 0
2000 0 0%
2001 0 0%
2002 0 0%
2003 0 0%
2004 0 0%
2005 0 0%
2006 0 0%
2007 0 0%
2008 0 0%
2009 0 0%
2010 0 0%
2011 0 0%
2012 33.052.999 100%
2013 0 0%
2014 0 0%
2015 227.280.000 100%
2016 200.222.000 -13.51%
2017 51.958.000 -285.35%
2018 53.476.000 2.84%
2019 67.846.000 21.18%
2020 65.168.000 -4.11%
2021 42.010.000 -55.12%
2022 33.389.000 -25.82%
2023 0 0%
2023 48.041.000 100%
2024 120.249.600 60.05%

General and Administrative Expenses are the costs a company incurs to run its day-to-day operations, such as office rent, salaries, and utilities, which investors consider to understand a company's overall efficiency and management effectiveness.

BRF S.A. General and Administrative Expenses
Year General and Administrative Expenses Growth
1999 0
2000 0 0%
2001 0 0%
2002 0 0%
2003 0 0%
2004 0 0%
2005 0 0%
2006 0 0%
2007 0 0%
2008 186.014.000 100%
2009 402.504.433 53.79%
2010 332.882.000 -20.92%
2011 426.872.000 22.02%
2012 389.000.000 -9.74%
2013 703.429.000 44.7%
2014 812.661.000 13.44%
2015 935.376.000 13.12%
2016 706.074.000 -32.48%
2017 665.658.000 -6.07%
2018 585.638.000 -13.66%
2019 866.219.000 32.39%
2020 2.444.696.000 64.57%
2021 2.315.319.000 -5.59%
2022 2.158.604.000 -7.26%
2023 2.302.520.000 6.25%
2023 2.392.027.000 3.74%
2024 2.928.016.000 18.31%

EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It is a measure that helps stock investors analyze a company's profitability by looking at its earnings without considering certain expenses. This helps to get a clearer picture of the company's financial performance and its ability to generate cash flow.

BRF S.A. EBITDA
Year EBITDA Growth
1999 201.962.503
2000 122.573.985 -64.77%
2001 439.943.478 72.14%
2002 199.472.396 -120.55%
2003 256.436.794 22.21%
2004 536.971.606 52.24%
2005 571.348.703 6.02%
2006 241.616.515 -136.47%
2007 739.141.345 67.31%
2008 1.373.255.000 46.18%
2009 3.175.622.494 56.76%
2010 3.205.196.000 0.92%
2011 3.733.264.000 14.14%
2012 1.388.000.000 -168.97%
2013 3.382.431.000 58.96%
2014 4.851.972.000 30.29%
2015 5.304.655.000 8.53%
2016 3.284.973.000 -61.48%
2017 3.507.355.000 6.34%
2018 2.383.671.000 -47.14%
2019 5.948.465.000 59.93%
2020 5.520.716.000 -7.75%
2021 5.930.115.000 6.9%
2022 3.475.810.000 -70.61%
2023 4.773.180.000 27.18%
2023 4.012.801.000 -18.95%
2024 10.307.168.000 61.07%

Gross profit is the money a company makes from selling its products or services after subtracting the cost of producing or providing them, and it is an important measure for investors to understand a company's profitability.

BRF S.A. Gross Profit
Year Gross Profit Growth
1999 522.972.610
2000 467.029.853 -11.98%
2001 800.206.522 41.64%
2002 813.436.477 1.63%
2003 1.018.741.986 20.15%
2004 1.351.225.822 24.61%
2005 1.458.390.389 7.35%
2006 1.340.852.025 -8.77%
2007 1.873.145.082 28.42%
2008 2.668.243.000 29.8%
2009 6.341.512.480 57.92%
2010 5.730.101.000 -10.67%
2011 6.659.275.000 13.95%
2012 6.453.000.000 -3.2%
2013 7.568.101.000 14.73%
2014 8.509.413.000 11.06%
2015 10.088.909.000 15.66%
2016 7.526.419.000 -34.05%
2017 6.904.006.000 -9.02%
2018 4.867.668.000 -41.83%
2019 8.076.938.000 39.73%
2020 9.470.878.000 14.72%
2021 10.165.696.000 6.83%
2022 8.132.652.000 -25%
2023 9.928.336.000 18.09%
2023 8.267.919.000 -20.08%
2024 15.149.364.000 45.42%

Net income in stock investing is like the money a company actually gets to keep as profit after paying all its bills, and it's an important measure to understand how well a company is doing financially.

BRF S.A. Net Profit
Year Net Profit Growth
1999 74.623.768
2000 50.381.257 -48.12%
2001 168.243.668 70.05%
2002 8.233.621 -1943.37%
2003 123.046.730 93.31%
2004 295.696.933 58.39%
2005 360.774.634 18.04%
2006 117.016.672 -208.31%
2007 321.273.372 63.58%
2008 -2.512.319.000 112.79%
2009 210.083.697 1295.87%
2010 804.106.000 73.87%
2011 1.367.409.000 41.19%
2012 813.000.000 -68.19%
2013 1.062.430.000 23.48%
2014 2.225.036.000 52.25%
2015 3.111.170.000 28.48%
2016 -372.383.000 935.48%
2017 -1.125.572.000 66.92%
2018 -4.466.246.000 74.8%
2019 1.213.261.000 468.12%
2020 1.518.492.000 20.1%
2021 419.455.000 -262.02%
2022 -3.090.678.000 113.57%
2023 -1.548.056.000 -99.65%
2023 -2.028.559.000 23.69%
2024 3.951.008.000 151.34%

EPS, or earnings per share, is a measure that shows how much profit a company has earned for each outstanding share of its stock, and it is important for stock investors as it helps understand the profitability of a company and compare it with other companies in the market.

BRF S.A. Earning per Share (EPS)
Year Earning per Share (EPS) Growth
1999 0
2000 0 0%
2001 1 0%
2002 0 0%
2003 0 0%
2004 1 100%
2005 4 66.67%
2006 0 0%
2007 1 0%
2008 -3 100%
2009 0 0%
2010 1 0%
2011 2 100%
2012 1 0%
2013 1 100%
2014 2 50%
2015 4 33.33%
2016 0 0%
2017 -1 100%
2018 -6 80%
2019 2 600%
2020 2 0%
2021 1 0%
2022 -3 100%
2023 -1 0%
2023 -1 100%
2024 2 150%

Cashflow Statements

Cashflow statements show the movement of money in and out of a company, helping stock investors understand how much money a company makes and spends. By examining cashflow statements, investors can assess if a company is generating enough cash to pay its bills, invest in growth, and provide returns to stockholders.

Free cash flow is the leftover cash that a company generates after covering its operating expenses and capital expenditures, which is important for stock investors as it shows how much money a company has available to invest in growth, pay dividends, or reduce debt.

BRF S.A. Free Cashflow
Year Free Cashflow Growth
1999 -82.761.993
2000 -108.450.933 23.69%
2001 100.088.807 208.35%
2002 -201.992.749 149.55%
2003 119.148.865 269.53%
2004 312.342.335 61.85%
2005 177.589.999 -75.88%
2006 -424.273.671 141.86%
2007 -260.877.711 -62.63%
2008 -1.340.693.000 80.54%
2009 -394.389.066 -239.94%
2010 2.469.065.000 115.97%
2011 -41.430.000 6059.61%
2012 544.000.000 107.62%
2013 1.995.826.000 72.74%
2014 3.929.075.000 49.2%
2015 2.634.532.000 -49.14%
2016 -101.032.000 2707.62%
2017 -285.409.000 64.6%
2018 -302.887.000 5.77%
2019 586.337.000 151.66%
2020 3.516.840.000 83.33%
2021 2.188.578.000 -60.69%
2022 194.917.000 -1022.83%
2023 378.044.000 48.44%
2023 -156.169.000 342.07%
2024 1.468.110.000 110.64%

Operating cash flow represents the cash generated or consumed by a company's day-to-day operations, excluding external investing or financing activities, and is crucial for stock investors as it shows how much cash a company is generating from its core business operations.

BRF S.A. Operating Cashflow
Year Operating Cashflow Growth
1999 105.266.231
2000 55.823.400 -88.57%
2001 218.665.445 74.47%
2002 -95.468.945 329.04%
2003 193.222.720 149.41%
2004 422.918.593 54.31%
2005 478.901.779 11.69%
2006 96.864.547 -394.4%
2007 337.272.765 71.28%
2008 373.511.000 9.7%
2009 814.837.323 54.16%
2010 3.231.568.000 74.79%
2011 1.142.592.000 -182.83%
2012 2.443.000.000 53.23%
2013 3.318.683.000 26.39%
2014 5.001.791.000 33.65%
2015 4.136.660.000 -20.91%
2016 1.821.174.000 -127.14%
2017 652.814.000 -178.97%
2018 295.685.000 -120.78%
2019 1.006.965.000 70.64%
2020 4.417.630.000 77.21%
2021 3.923.636.000 -12.59%
2022 1.876.384.000 -109.11%
2023 938.092.000 -100.02%
2023 2.260.423.000 58.5%
2024 2.032.240.000 -11.23%

Capex, short for capital expenditures, refers to the money a company spends on acquiring or upgrading tangible assets like buildings, equipment, or technology, which is important for stock investors as it indicates how much a company is investing in its infrastructure to support future growth and profitability.

BRF S.A. Capital Expenditure
Year Capital Expenditure Growth
1999 188.028.224
2000 164.274.333 -14.46%
2001 118.576.638 -38.54%
2002 106.523.803 -11.31%
2003 74.073.855 -43.81%
2004 110.576.257 33.01%
2005 301.311.780 63.3%
2006 521.138.218 42.18%
2007 598.150.476 12.88%
2008 1.714.204.000 65.11%
2009 1.209.226.389 -41.76%
2010 762.503.000 -58.59%
2011 1.184.022.000 35.6%
2012 1.899.000.000 37.65%
2013 1.322.857.000 -43.55%
2014 1.072.716.000 -23.32%
2015 1.502.128.000 28.59%
2016 1.922.206.000 21.85%
2017 938.223.000 -104.88%
2018 598.572.000 -56.74%
2019 420.628.000 -42.3%
2020 900.790.000 53.3%
2021 1.735.058.000 48.08%
2022 1.681.467.000 -3.19%
2023 560.048.000 -200.24%
2023 2.416.592.000 76.82%
2024 564.130.000 -328.38%

Balance Sheet

Balance sheets provide a snapshot of a company's financial health and its assets (such as cash, inventory, and property) and liabilities (like debts and obligations) at a specific point in time. For stock investors, balance sheets help assess the company's overall worth and evaluate its ability to meet financial obligations and support future growth.

Equity refers to the ownership interest or stake that shareholders have in a company, representing their claim on its assets and earnings after all debts and liabilities are paid.

BRF S.A. Equity
Year Equity Growth
1999 672.561.938
2000 780.478.569 13.83%
2001 672.795.855 -16.01%
2002 675.638.363 0.42%
2003 760.103.806 11.11%
2004 970.376.245 21.67%
2005 1.222.035.696 20.59%
2006 2.138.718.370 42.86%
2007 3.225.734.786 33.7%
2008 800.553.000 -302.94%
2009 22.921.501.315 96.51%
2010 13.636.518.000 -68.09%
2011 14.109.917.000 3.36%
2012 14.613.512.000 3.45%
2013 14.696.154.000 0.56%
2014 15.689.943.000 6.33%
2015 13.835.853.000 -13.4%
2016 12.219.353.000 -13.23%
2017 11.712.782.000 -4.32%
2018 7.531.777.000 -55.51%
2019 8.148.349.000 7.57%
2020 8.813.534.000 7.55%
2021 8.825.623.000 0.14%
2022 11.822.869.000 25.35%
2023 14.930.764.000 20.82%
2023 15.643.656.000 4.56%
2024 16.805.049.000 6.91%

Assets represent the valuable resources that a company owns, such as cash, inventory, property, and equipment, and understanding a company's assets helps investors assess its value and potential for generating future profits.

BRF S.A. Assets
Year Assets Growth
1999 2.103.281.075
2000 2.552.277.317 17.59%
2001 2.424.051.574 -5.29%
2002 3.007.232.842 19.39%
2003 2.767.783.973 -8.65%
2004 2.525.437.201 -9.6%
2005 3.629.933.424 30.43%
2006 4.817.729.072 24.65%
2007 6.542.760.124 26.37%
2008 14.281.751.000 54.19%
2009 44.858.386.308 68.16%
2010 27.751.547.000 -61.64%
2011 29.983.456.000 7.44%
2012 30.772.000.000 2.56%
2013 32.374.569.000 4.95%
2014 36.103.735.000 10.33%
2015 40.388.014.000 10.61%
2016 42.944.936.000 5.95%
2017 45.228.481.000 5.05%
2018 42.382.377.000 -6.72%
2019 41.700.631.000 -1.63%
2020 49.664.906.000 16.04%
2021 55.903.387.000 11.16%
2022 57.854.447.000 3.37%
2023 59.253.909.000 2.36%
2023 57.272.090.000 -3.46%
2024 61.790.182.000 7.31%

Liabilities refer to the financial obligations or debts that a company owes to creditors or external parties, and understanding a company's liabilities is important for investors as it helps assess the company's financial risk and ability to meet its obligations.

BRF S.A. Liabilities
Year Liabilities Growth
1999 1.430.719.137
2000 1.771.798.746 19.25%
2001 1.751.255.719 -1.17%
2002 2.331.594.478 24.89%
2003 2.007.680.166 -16.13%
2004 1.555.060.955 -29.11%
2005 2.407.897.727 35.42%
2006 2.679.010.702 10.12%
2007 3.317.025.337 19.23%
2008 13.481.198.000 75.4%
2009 21.936.884.992 38.55%
2010 14.115.029.000 -55.42%
2011 15.873.539.000 11.08%
2012 16.196.000.000 1.99%
2013 17.678.415.000 8.39%
2014 20.413.792.000 13.4%
2015 26.552.161.000 23.12%
2016 30.725.583.000 13.58%
2017 33.515.699.000 8.32%
2018 34.850.600.000 3.83%
2019 33.552.282.000 -3.87%
2020 40.851.372.000 17.87%
2021 47.077.764.000 13.23%
2022 46.031.578.000 -2.27%
2023 44.323.145.000 -3.85%
2023 41.628.434.000 -6.47%
2024 44.985.133.000 7.46%

BRF S.A. Financial Ratio (TTM)

Valuation Metrics

Revenue per Share
33.94
Net Income per Share
1.11
Price to Earning Ratio
20.8x
Price To Sales Ratio
0.68x
POCF Ratio
6.76
PFCF Ratio
10.94
Price to Book Ratio
2.45
EV to Sales
0.94
EV Over EBITDA
6.88
EV to Operating CashFlow
9.33
EV to FreeCashFlow
15.15
Earnings Yield
0.05
FreeCashFlow Yield
0.09
Market Cap
38,46 Bil.
Enterprise Value
53,27 Bil.
Graham Number
15.4
Graham NetNet
-13.72

Income Statement Metrics

Net Income per Share
1.11
Income Quality
2.88
ROE
0.12
Return On Assets
0.03
Return On Capital Employed
0.1
Net Income per EBT
0.73
EBT Per Ebit
0.58
Ebit per Revenue
0.08
Effective Tax Rate
0.14

Margins

Sales, General, & Administrative to Revenue
0.05
Research & Developement to Revenue
0
Stock Based Compensation to Revenue
0
Gross Profit Margin
0.22
Operating Profit Margin
0.08
Pretax Profit Margin
0.05
Net Profit Margin
0.03

Dividends

Dividend Yield
0
Dividend Yield %
0
Payout Ratio
0
Dividend Per Share
0

Operating Metrics

Operating Cashflow per Share
3.43
Free CashFlow per Share
2.11
Capex to Operating CashFlow
0.38
Capex to Revenue
0.04
Capex to Depreciation
0.65
Return on Invested Capital
0.1
Return on Tangible Assets
0.03
Days Sales Outstanding
47.33
Days Payables Outstanding
106.68
Days of Inventory on Hand
77.34
Receivables Turnover
7.71
Payables Turnover
3.42
Inventory Turnover
4.72
Capex per Share
1.32

Balance Sheet

Cash per Share
7,17
Book Value per Share
10,09
Tangible Book Value per Share
6.2
Shareholders Equity per Share
9.46
Interest Debt per Share
16.19
Debt to Equity
1.48
Debt to Assets
0.38
Net Debt to EBITDA
1.91
Current Ratio
1.45
Tangible Asset Value
10,32 Bil.
Net Current Asset Value
-15,89 Bil.
Invested Capital
32247485999
Working Capital
9,04 Bil.
Intangibles to Total Assets
0.1
Average Receivables
6,69 Bil.
Average Payables
12,43 Bil.
Average Inventory
9277723000
Debt to Market Cap
0.61

Dividends

Dividends in stock investing are like rewards that companies give to their shareholders. They are a portion of the company's profits distributed to investors, typically in the form of cash payments, as a way for them to share in the company's success.

BRF S.A. Dividends
Year Dividends Growth
2004 0
2008 0 0%
2009 0 0%
2010 0 0%
2011 1 0%
2012 0 0%
2013 1 0%
2014 1 0%
2015 1 100%
2016 1 0%

BRF S.A. Profile

About BRF S.A.

BRF S.A. focuses on raising, producing, and slaughtering poultry and pork for processing, production, and sale of fresh meat, processed products, pasta, margarine, and other products. The company's product portfolio comprises meat products, including frozen whole and cut chicken, frozen pork, and beef; processed food products, such as marinated, frozen, whole and cut chicken, roosters, turkey meat, sausages, ham products, bologna, frankfurters, salamis, bacon, cold meats, other smoked products, chicken sausages, chicken hot dogs, and chicken bologna; and frozen processed meats comprising hamburgers, steaks, breaded meat products, kibbeh, and meatballs. It also produces and sells frozen prepared entrees, such as pastas and pizzas, including lasagna, macaroni, sandwiches, cheese breads, and other ready-to-eat meals; pies and pastries comprising chicken and heart-of-palm pies, sauces, and toppings; frozen desserts; plant-based products, such as nuggets, pies, vegetables, and hamburgers; and soy meal, refined soy flour, and animal feed, as well as sell frozen French fries, margarine, butter, and cream cheese. The company primarily sells its products under the Sadia, Perdigão, Qualy, Chester, Kidelli, Perdix, Biofresh, Gran Plus, and Banvit brands. It serves supermarkets, wholesalers, retail stores, food services, restaurants, and other institutional buyers. The company is also involved in the provision of consultancy, marketing, and logistics services; commercialization of electric energy; and import, industrialization, and commercialization of products. BRF S.A. operates primarily in Brazil, the Americas, Europe, the Middle East, Africa, Asia, and internationally. The company was formerly known as BRF-Brasil Foods S.A. and changed its name to BRF S.A. in April 2013. BRF S.A. was founded in 1934 and is headquartered in Itajaí, Brazil.

CEO
Mr. Miguel de Souza Gularte
Employee
100.000
Address
Rua Jorge Tzachel, nº 475
Itajaí, 04794-000

BRF S.A. Executives & BODs

BRF S.A. Executives & BODs
# Name Age
1 Mr. Manoel Reinaldo Manzano Martins Jr.
Vice President of Commercial Brazil & Member of Executive Board
70
2 Mr. Marcel Sacco
Vice-president of Marketing & New Business and Member of Executive Board
70
3 Marcus de Freitas Henriques
Secretary
70
4 Marcos Roberto Badollato
Chief Accounting Officer
70
5 Mr. Alessandro Rosa Bonorino
Vice-President of People, Sustainability & Digital and Member of Executive Board
70
6 Mr. Artemio Listoni
Chief Industrial Ops., & Logistic Officer, Vice President of Industrial Ops & Logistics & Member of Exe., Board
70
7 Mr. Miguel de Souza Gularte
Global Chief Executive Officer & Member of Executive Board
70
8 Mr. Fabio Luis Mendes Mariano
Chief Financial & Investor Relations Officer and Member of Executive Board
70
9 Mr. Leonardo Campo Dall'Orto
Vice-president of International Markets & Planning and Member of Executive Board
70
10 Mr. Fabio Duarte Stumpf
Vice President of Agrobusiness & Quality and Member of Executive Board
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BRF S.A. Competitors

JBS S.A. Logo
JBS S.A.

JBSS3.SA

(2.2)
Marfrig Global Foods S.A. Logo
Marfrig Global Foods S.A.

MRFG3.SA

(0.5)
Ambev S.A. Logo
Ambev S.A.

ABEV3.SA

(2.5)
Cielo S.A. Logo
Cielo S.A.

CIEL3.SA

(3.0)