Sector: Airlines
BR_AZUL
Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.
Shares: yahoo_fundamentals_timeseries/AZUL
Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.
| Date | Period | Status | RevenueM USD | Operating profitM USD | D&AM USD | EBITDAM USD | Net profitM USD | Operating CFM USD | Capex + M&AM USD | AssetsM USD | EquityM USD | ROE (annualized) | Net debtM USD | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-03-31 | Q1 2026 (3M) | PARTIAL | 1090.5 y/y 13.6% | 390.2 y/y 48.1% | 130.4 y/y -10.1% | 520.6 y/y 27.4% | 1199.9 y/y 307.8% | -25.7 | -21.7 | 6211.6 y/y 36.6% | -752.2 y/y — | -158.5% | 3697.9 | Link |
| 2025-12-31 | Q4 2025 (3M) | PARTIAL | 995.1 y/y — | 187.7 y/y — | 128.3 y/y — | 316.0 y/y — | -291.4 y/y — | 40.4 | -76.7 | 4316.5 y/y 1.5% | -5302.6 y/y — | -0.4% | 6362.4 | Link |
| 2025-09-30 | Q3 2025 (3M) | PARTIAL | 1066.0 y/y 19.7% | 125.2 y/y -29.8% | 133.3 y/y 22.7% | 258.5 y/y -9.9% | -517.2 y/y -1307.2% | -187.9 | -10.7 | 5133.1 y/y 26.4% | -5092.3 y/y — | 6.9% | 6615.4 | Link |
| 2025-06-30 | Q2 2025 (3M) | PARTIAL | 886.5 y/y 19.2% | -6.5 y/y -108.3% | 136.8 y/y 25.6% | 130.3 y/y -30.5% | 263.3 y/y — | 43.5 | -6.4 | 4824.2 y/y 18.6% | -4670.6 y/y — | -21.6% | 5712.2 | Link |
| 2025-03-31 | Q1 2025 (3M) | PARTIAL | 959.9 y/y 5.0% | 263.5 y/y 68.4% | 145.1 y/y 20.8% | 408.6 y/y 47.7% | 294.2 y/y — | -55.7 | -8.3 | 4546.0 y/y 11.3% | -5062.5 y/y — | -23.6% | 5888.3 | Link |
| 2024-12-31 | FY 2024 (12M) | PARTIAL | — y/y -17.6% | — y/y 59.9% | — y/y -16.5% | — y/y 14.7% | — y/y — | — | — | 4253.1 y/y 0.2% | -4926.5 y/y — | 31.4% | 5698.2 | Link |
| 2024-09-30 | Q3 2024 (3M) | PARTIAL | 890.2 y/y -8.6% | 178.3 y/y 33.9% | 108.7 y/y -12.3% | 286.9 y/y 11.6% | 21.0 y/y — | 120.4 | -21.2 | 4061.6 y/y 4.5% | -4518.3 y/y — | -0.6% | 5072.2 | Link |
| 2024-06-30 | Q2 2024 (3M) | PARTIAL | 743.7 y/y -17.4% | 78.6 y/y 23.3% | 109.0 y/y -17.9% | 187.6 y/y -4.6% | -678.9 y/y — | 210.0 | -45.3 | 4068.9 y/y 12.2% | -4663.4 y/y — | 60.1% | 5174.2 | Link |
| 2024-03-31 | Q1 2024 (3M) | PARTIAL | 914.3 y/y 1.8% | 156.5 y/y 364.3% | 120.1 y/y 5.5% | 276.6 y/y 87.4% | -205.3 y/y — | -12.3 | -53.7 | 4083.6 y/y 17.0% | -4371.4 y/y — | 18.7% | 5128.5 | Link |
| 2023-12-31 | FY 2023 (12M) | PARTIAL | — y/y — | — y/y — | — y/y — | — y/y — | — y/y — | — | — | 4243.3 y/y — | -4407.5 y/y — | 11.4% | 4747.7 | Link |
| 2023-09-30 | Q3 2023 (3M) | PARTIAL | 974.3 y/y — | 133.1 y/y — | 124.0 y/y — | 257.1 y/y — | -325.1 y/y — | -18.9 | -16.5 | 3885.2 y/y — | -4218.3 y/y — | 10.2% | 4989.1 | Link |
| 2023-06-30 | Q2 2023 (3M) | PARTIAL | 900.7 y/y — | 63.8 y/y — | 132.8 y/y — | 196.6 y/y — | 152.8 y/y — | 125.6 | -24.0 | 3625.0 y/y — | -4167.0 y/y — | -0.5% | 4574.6 | Link |
| 2023-03-31 | Q1 2023 (3M) | PARTIAL | 898.3 y/y — | 33.7 y/y — | 113.9 y/y — | 147.6 y/y — | -147.8 y/y — | 209.2 | -16.4 | 3490.8 y/y — | -3957.1 y/y — | — | 4549.2 | Link |
Quarterly values ($ mln)
Year-over-year change
FCF ($ mln)
Net debt / cash ($ mln)
Value the company creates per year, as a % of market cap
Value created per year: +100.3%
| 1. EBITDA growth (latest quarter YoY, annualised) [EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-03-31 vs 2025-03-31) = (521 − 409) × 2.35 | 264 |
| 2. Current EV/EBITDA (LTM) (Market cap + Net debt) ÷ EBITDA (LTM) = (3 920 + 3 698) ÷ 1 225 | 6.2x |
| 3. Target multiple (Current EV/EBITDA + 7) ÷ 2 = (6.2 + 7) ÷ 2 | 6.6x |
| 4. Cash flow (balance method, LTM) Net-debt reduction + dividends + buybacks − equity issuance = 2 190 + 0 + 0 − 0 | 2 190 |
| 5. Value created per year (EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap = (264 × 6.6 + 2 190) ÷ 3 920 | +100.3% |
Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.
Caveats:
No dividend rows found for this issuer (checked: Yahoo Finance (ex-div)).
Investor reporting (IR): https://ri.voeazul.com.br/en/
Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)
Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Azul — from primary filings.
Azul S.A. is a Brazilian airline that provides passenger and cargo air transportation services within Brazil and internationally, along with related services such as frequent-flyer programs and aircraft maintenance.