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Cyrela USD

At a glance: strengths & risks
✓Revenue growing (+29% y/y, Q2 2026)✓Profit growing (+19% y/y, Q2 2026)✓Cheaper than own history (EV/EBITDA 4.4 vs avg 6.6)

Sector: Homebuilding

BR_CYRE

Price chart

17.09 BRLDay -3.88%

Key metrics

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.

Market

Price
17.09 BRL · -3.88%
Market cap
1.2 bn USD

Growth

Δ revenue y/y
29.3%
Δ EBITDA y/y
23.2%

Multiples

P/E (LTM)
2.5x
3y avg: 5.1x
P/B (FY)
0.6x
P/E (ann.)
2.8x
EV/EBITDA (LTM)
4.4x
3y avg: 6.6x
EV/EBITDA (ann.)
4.9x

Cash return

Dividend yield
16.0%
FCF yield (LTM)
-15.7%

Value creation

fundamental value/yr, % of market cap
Value created / year
+18.7%
↓ details

Liquidity

Daily turnover (listing)
229.6 mln BRL

Shares: yahoo_fundamentals_timeseries/CYRE3.SA

Financial results

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.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-06-30Q2 2026 (3M)PARTIAL488.5
y/y 29.3%
99.3
y/y 19.8%
8.1
y/y 89.9%
107.4
y/y 23.2%
102.2
y/y 18.9%
63.0-17.15462.8
y/y 30.1%
2452.0
y/y 25.7%
16.9%944.8Link
2026-03-31Q1 2026 (3M)PARTIAL403.6
y/y 16.2%
74.5
y/y 10.4%
10.9
y/y 102.0%
85.3
y/y 17.2%
71.8
y/y 2.4%
-21.8-15.85324.2
y/y 37.0%
2377.3
y/y 28.2%
12.8%981.4Link
2025-12-31Q4 2025 (3M)PARTIAL590.8
y/y 45.6%
141.1
y/y 39.2%
9.1
y/y 180.6%
150.2
y/y 43.6%
153.4
y/y 61.4%
0.4-90.14767.9
y/y 38.7%
2093.9
y/y 30.0%
20.7%864.8Link
2025-09-30Q3 2025 (3M)PARTIAL395.5
y/y 12.3%
126.8
y/y 32.0%
5.3
y/y -23.4%
132.1
y/y 28.3%
126.9
y/y 35.2%
165.0-10.34635.9
y/y 36.5%
2134.7
y/y 24.9%
24.9%612.9Link
2025-06-30Q2 2025 (3M)PARTIAL377.9
y/y 14.2%
82.9
y/y -2.0%
4.3
y/y 46.3%
87.2
y/y -0.3%
85.9
y/y 0.9%
-81.1-8.74199.7
y/y 29.1%
1950.5
y/y 18.5%
18.1%649.7Link
2025-03-31Q1 2025 (3M)PARTIAL347.5
y/y 13.0%
67.4
y/y 1.9%
5.4
y/y 16.6%
72.8
y/y 2.8%
70.1
y/y 13.9%
-21.7-6.33887.5
y/y 13.9%
1853.6
y/y 7.7%
16.2%534.7Link
2024-12-31Q4 2024 (3M)PARTIAL405.7
y/y 14.8%
101.3
y/y 57.3%
3.2
y/y 377.4%
104.6
y/y 60.6%
95.1
y/y 52.3%
12.1-11.53438.2
y/y -4.2%
1610.5
y/y -8.3%
18.7%473.0Link
2024-09-30Q3 2024 (3M)PARTIAL352.2
y/y 9.3%
96.1
y/y 52.6%
6.9
y/y -17.2%
103.0
y/y 44.4%
93.9
y/y 55.5%
-14.9-6.73396.9
y/y 0.7%
1709.6
y/y 1.0%
22.4%420.7Link
2024-06-30Q2 2024 (3M)PARTIAL330.9
y/y -4.3%
84.6
y/y 25.4%
2.9
y/y -14.3%
87.5
y/y 23.5%
85.2
y/y 30.6%
-28.3-5.73254.3
y/y -8.6%
1645.6
y/y -5.7%
20.2%437.1Link
2024-03-31Q1 2024 (3M)PARTIAL307.4
y/y 19.4%
66.2
y/y 86.0%
4.6
y/y -21.4%
70.8
y/y 70.8%
61.5
y/y 60.5%
24.0-7.53412.7
y/y 4.2%
1721.2
y/y 9.0%
14.2%461.7Link
2023-12-31Q4 2023 (3M)PARTIAL353.4
y/y —
64.4
y/y —
0.7
y/y —
65.1
y/y —
62.4
y/y —
-76.2-1.73589.9
y/y —
1756.5
y/y —
13.3%507.2Link
2023-09-30Q3 2023 (3M)PARTIAL322.2
y/y —
62.9
y/y —
8.4
y/y —
71.3
y/y —
60.4
y/y —
-16.5-10.93373.5
y/y —
1692.4
y/y —
14.0%450.6Link
2023-06-30Q2 2023 (3M)PARTIAL345.7
y/y —
67.5
y/y —
3.4
y/y —
70.9
y/y —
65.2
y/y —
-31.9-6.53562.2
y/y —
1745.3
y/y —
15.7%414.7Link
2023-03-31Q1 2023 (3M)PARTIAL257.4
y/y —
35.6
y/y —
5.9
y/y —
41.5
y/y —
38.3
y/y —
-2.6-9.33273.9
y/y —
1578.9
y/y —
—376.4Link

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

02004006002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-20%0%20%40%60%80%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

Cash flow after capex (OCF − capex) ($ mln)

-300-200-10001002002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

02004006008001 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Profit runs ahead of cash
In a typical year of 2023–2025 operating cash flow came to -0.15x of reported net profit; after capex, -0.41x.
year202320242025
cash flow / profit-0.56x0.03x-0.15x
accruals, % of assets9.9%8.8%10.5%
Last twelve months (to 2025-Q3): 0.17x of profit came back as operating cash flow.
net debt / EBITDA 1.9x
● In a typical year operating cash flow covered -15% of reported profit (3 profitable years).
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: +18.7%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-06-30 vs 2025-06-30)
= (107 − 87) × 4.42
90
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (1 152 + 945) ÷ 475
4.4x
3. Target multiple
(Current EV/EBITDA + 7) ÷ 2
= (4.4 + 7) ÷ 2
5.7x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= -295 + 0 + 0 − 0
-295
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (90 × 5.7 + -295) ÷ 1 152
+18.7%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

  • dividends/buybacks not in data - balance cash flow uses net-debt change only

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +33% vs -0% the year before — a +33.7 pp move. 3-year CAGR —.
revenue growth by year: 2024 -0% · 2025 +33%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

Peer comparison

Group: consumer (Brazil). Every peer trades on the same market, so no adjustment is needed.

CompanyMarketCap, $bnEV/EBITDA
Magazine LuizaBrazil0.82.3x
Lojas RennerBrazil1.62.4x
AssaiBrazil1.93.6x
AzulBrazil1.84.2x
Vibra EnergiaBrazil6.55.0x
AmbevBrazil41.56.6x
SLC AgricolaBrazil1.86.6x
Group median4.2x
Group average4.4x
This companyBrazil1.24.4x

Group median 4.2x; this company 4.4x — a 5% premium.

Group average 4.4x; against the average this company is at a 1% premium.

At the adjusted group median the market cap would be -8% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 19.4x, Russia 3.8x, South Africa 5.2x, Kazakhstan 6.2x, India 17.7x, Indonesia 4.2x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-31; the company's own is live.

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2025-12-102.7299 BRLEx-dividend: 2.7299 BRL per sharePaidYahoo Finance (ex-div)
2025-04-281.0691 BRLEx-dividend: 1.0691 BRL per sharePaidYahoo Finance (ex-div)
2024-04-260.5968 BRLEx-dividend: 0.5968 BRL per sharePaidYahoo Finance (ex-div)
2023-12-120.3334 BRLEx-dividend: 0.3334 BRL per sharePaidYahoo Finance (ex-div)
2023-05-030.5113 BRLEx-dividend: 0.5113 BRL per sharePaidYahoo Finance (ex-div)
2022-04-250.5648 BRLEx-dividend: 0.5648 BRL per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Investor reporting (IR): https://www.rad.cvm.gov.br/ENET/frmConsultaExternaCVM.aspx?codigoCVM=14460

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 Cyrela — from primary filings.

Frequently asked questions

What is Cyrela's P/E ratio?
Cyrela trades at a P/E of 2.5x (price to trailing 12-month earnings).
What is Cyrela's EV/EBITDA?
Cyrela trades at 4.4x EV/EBITDA.
What is Cyrela's P/B ratio?
Cyrela trades at a P/B of 0.6x.
What is Cyrela's dividend yield?
Cyrela's trailing 12-month dividend yield is 16.0%.
What is Cyrela's return on equity (ROE)?
Cyrela's ROE is 16.9%.
What is Cyrela's market capitalization?
Cyrela's market cap is 1.2 bn USD.

See also: The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map