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October 2026
Largest Public Companies in Brazil
Benchmark revenue and EBITDA valuation multiples for public comps like
Petrobras, Itaú, Nubank, Banco BTG Pactual and Vale.
 | Petrobras is a Brazil-based integrated energy company controlled by the Brazilian government. The company focuses on the exploration and production of oil and gas in Brazilian offshore fields. Production in 2025 was 3.0 million barrels of oil equivalent per day (80% oil), and reserves stood at 12.1 billion boe (84% oil). At the end of 2025, Petrobras operated 10 refineries in Brazil with a capacity of 1.8 million barrels per day and distributed refined products and natural gas throughout the country. | $11 | +103% | $138B | $197B | 2.2x | 4.3x | ||
| Itau Unibanco is a Brazilian financial group headquartered in Sao Paulo and the largest private bank in Brazil. It was formed in 2008 by the merger of Banco Itau and Unibanco, and its shares trade on the Sao Paulo stock exchange under ITUB4 and on the New York Stock Exchange. The group offers retail and commercial banking, credit cards, insurance, asset management, private banking and investment banking through Itau BBA, and it operates in Argentina, Chile, Paraguay, Uruguay, Colombia and other markets in Latin America. It has grown through acquisitions, among them BankBoston in 2006, Redecard in 2012 and a stake in XP in 2017, and through minority investments in fintechs such as Avenue, Prex and Handy. In 2025 its private banking arm passed R$1 trillion of assets under management and administration. | $9 | +20% | $90B | $90B | 2.9x | - | ||
| Nubank is a digital banking platform headquartered in Sao Paulo, Brazil, operated by the listed holding company Nu Holdings Ltd (NYSE: NU). It was founded on 6 May 2013 by David Velez and began with a no-fee credit card managed entirely from a mobile app. The group now offers accounts, credit cards, personal loans, insurance and investment products to retail customers in Brazil, Mexico and Colombia. In the first quarter of 2026 it reported 135.2 million customers worldwide, 115 million of them in Brazil, and quarterly revenue above USD 5 billion. It has grown partly through acquisitions, including Plataformatec, Cognitect, Easynvest, Olivia and Hyperplane, and in July 2026 agreed to acquire Banco Porto Real de Investimentos to obtain a Brazilian banking licence. It also invests in fintech start-ups abroad, such as Tyme Group. | $12 | -22% | $60B | $60B | 5.6x | - | ||
| Banco BTG Pactual is a Brazilian investment bank and asset manager headquartered in São Paulo and listed on the B3 exchange. It provides investment banking, corporate lending, sales and trading, wealth management, asset management and consumer banking services, and its merchant banking and private equity arm invests in companies across Latin America. The bank traces its origins to Pactual, founded in Rio de Janeiro in 1983 by André Jacurski, Luiz Cezar Fernandes and Paulo Guedes, and is chaired by André Esteves with Roberto Sallouti as chief executive. BTG Pactual earns fees, trading income and net interest income, reported net income of about US$3.0 billion and total assets of about US$162.8 billion in 2025, and employed 8,188 people in 2024. In 2025 its private equity arm agreed to invest $300 million in egg producer Global Eggs for an 11% stake. | $4 | -11% | $51B | $51B | 5.2x | - | ||
| Vale is a large global miner and the world’s largest producer of iron ore and pellets. In recent years the company has sold noncore assets such as its fertilizer, coal, and steel operations to concentrate on iron ore, nickel, and copper. Earnings are dominated by its iron ore business. The base metals division is much smaller, consisting of nickel mines and smelters along with copper mines producing copper in concentrate. In 2024, Vale sold a minority 10% stake in its base metals business, likely the first step in separating base metals and iron ore. | $12 | -2% | $50B | $67B | 1.8x | 6.8x | ||
| Ambev is the largest brewer in Latin America and the Caribbean and is Anheuser-Busch InBev's subsidiary in the region. It produces, distributes, and sells beer and PepsiCo products in Brazil and other Latin American countries and owns Argentina's largest brewer, Quinsa. Ambev was formed in 1999 through the merger of Brazil's two largest beverage companies, Brahma and Antarctica. In 2004, Ambev combined with Canadian brewer Labatt, giving AB InBev a controlling interest of 62%. | $3 | +24% | $45B | $42B | 2.6x | 8.1x | ||
| WEG SA is a Brazilian electrical engineering and automation company listed on the B3 exchange and headquartered in Jaragua do Sul, Santa Catarina. It was founded on 16 September 1961 by Werner Ricardo Voigt, Eggon Joao da Silva and Geraldo Werninghaus, and its name is an acronym of their initials. The company makes electric motors, generators, transformers, drives, industrial automation and control products, gearboxes, switchgear, wind turbines, battery storage systems and coatings and varnishes. In 2025 its net revenue reached R$40.8 billion, of which 59 percent came from markets outside Brazil. It has grown through acquisitions across Europe, Asia, Africa and the Americas, the largest being the 2023 purchase of the industrial motors and generators business of Regal Rexnord for USD 400 million. Alberto Kuba serves as chief executive and Decio da Silva as chairman, and the company keeps a United States base in Duluth, Georgia. | $9 | +11% | $36B | $36B | 4.7x | 20.7x | ||
| Banco Bradesco is a Brazilian commercial bank headquartered in Osasco, Sao Paulo, founded in 1943 in Marilia as Banco Brasileiro de Descontos. It is the third largest banking institution by assets in Brazil and Latin America and is listed on the B3 in Sao Paulo, the New York Stock Exchange and the Madrid exchange. The group offers commercial banking, internet banking, insurance, private pension plans, credit cards, savings bonds, personal and commercial loans, leasing, investment banking, private equity and asset management. It reports 5,314 branches, 4,834 service branches and 38,430 banking correspondents, with banking or financial subsidiaries and affiliates abroad in New York, Grand Cayman, London, Luxembourg, Hong Kong, Buenos Aires, Tokyo and Mexico. Its subsidiaries include the insurer Bradesco Seguros and the holding Bradespar. Over its history it has grown through acquisitions of state banks and financial companies, including the Brazilian operations of HSBC in 2016. | $3 | -21% | $32B | $32B | 1.4x | - | ||
| Itausa Investimentos ITAU SA is a Brazilian investment holding company. It has equity interests in the companies engaged in the financial, consumer goods, construction materials, sanitation, energy, and infrastructure sectors. Its portfolio consists of brands such as Itau Unibanco, Dexco, Alpargatas, CCR, Aegea Saneamento, Copa Energia and Nova Transportadora do Sudeste (NTS). The majority of the revenue for the company is generated from Itau Unibanco which is a banking institution that offers, directly or using its subsidiaries, a broad range of credit products and other financial services to a diversified individual and corporate client base in Brazil and abroad. | $3 | +23% | $29B | $30B | 19.5x | - | ||
| Axia Energia is engaged in the generation, transmission, and commercialization of electricity in Brazil. The company operates a portfolio of wind, thermal, hydro, and nuclear power plants located throughout the country. | $10 | -7% | $22B | $31B | 4.0x | 46.8x | ||
| Telefonica Brasil, known as Vivo, is the largest wireless carrier in Brazil with 102 million customers, which is equal to about 39% market share. The firm is strongest in the postpaid business, where it has 68 million customers, or about 41% share of this market. Wireless services and equipment contribute about 70% of total revenue. Vivo is the incumbent fixed-line telephone operator in Sao Paulo state and also owns an extensive fiber network across the country. The firm provides internet access to 8 million households on this network. The firm also sells pay-TV and phone services to its fixed-line customers. Finally, corporate data and IT services, including cloud computing support, contribute about 9% of total revenue. | $6 | -2% | $19B | $21B | 1.9x | 5.1x | ||
| Banco do Brasil SA BB Brasil is a Brazilian financial services company present in several countries. The business segments are Banking, Investments, Fund Management, Insurance, Electronic payments, and others. Majority of the revenue is generated from its Banking segment. Banco do Brasil serves retail clients (small and midsize enterprises and individuals), wholesale clients (corporations), and public institutions. The products and services portfolio includes accounts, Loans, cards, financing, and others. | $3 | -20% | $19B | $19B | 0.7x | - | ||
| Santander Brasil is a Brazilian universal bank controlled by Spain's Banco Santander. It provides current accounts, deposits, cards, consumer credit, mortgages, business lending, payments, investment products and corporate-banking services. The company earns revenue from interest spreads and fees charged to retail, small-business and corporate clients. It was built through a series of acquisitions and became one of Brazil's largest privately controlled banks. Santander Brasil listed units and shares in a large 2009 initial public offering in São Paulo and New York. Aabar participated in that offering and subsequently sold its entire minority position in a secondary market transaction in 2010. | $2 | -14% | $18B | $18B | 2.1x | - | ||
| Companhia De Saneamento Basico Do Estado De Sao Paulo is engaged in the provision of basic and environmental sanitation services in Sao Paulo State, and supplies treated water and sewage services on a wholesale basis. SABESP may perform activities in other states and countries and can operate in drainage, urban cleaning, solid waste handling, and energy markets. The company determined that it has a single operating segment, which is the provision of sanitation services. | $5 | +1% | $17B | $23B | 3.3x | 7.4x | ||
| BB Seguridade Participacoes SA is a diversified insurance company that operates two segments: insurance and brokerage. The revenue generation is mostly split between these two segments. Its insurance segment focuses on life, property, vehicle, and special-risk insurance. It also provides capitalization plans as well as reinsurance. The company's brokerage segment operates the facilitation of business insurance and reinsurance. BB Seguridade generates its maximum revenue from Insurance Segment. The company considers mergers and acquisitions as a component of its operational growth plan. | $8 | +32% | $16B | $16B | 13.5x | - | ||
| Hsi Renda Imobiliaria - Fundo DE Investimento Imobiliario aims to obtain income and capital gains through investment in real estate or real rights over real estate. | $17 | -9% | $15B | $14B | ||||
| B3 SA - Brasil Bolsa Balcao is a financial market exchange. Its services consist of trading, clearing, and other post-trade services. The company's activities are carried out through its trading systems and clearinghouses and include transactions with securities, interbank foreign exchange, and securities under custody in the special system for settlement and custody. The company's segment involves: Listed; OTC; Infrastructure for Financing; and Technology, Data and Services. It derives maximum revenue from Listed Segment. | $3 | +21% | $14B | $14B | ||||
| Rede D'Or São Luiz is a Brazilian hospital and diagnostic-services group founded by physician Jorge Moll in Rio de Janeiro. The company operates general and specialty hospitals, oncology services, diagnostic laboratories and outpatient facilities for privately insured and self-paying patients. At BTG Pactual's 2010 investment announcement, the network comprised thirteen operating hospitals, more than 2,000 beds, three hospitals under construction and forty-six diagnostic units. It also managed two hospitals for third parties at that time. Rede D'Or expanded through new facilities and acquisitions across major Brazilian metropolitan areas. The company later became publicly listed in Brazil and continues to earn revenue primarily from hospital treatment, clinical procedures, diagnostics and related healthcare services. | $7 | -19% | $14B | $17B | ||||
| Embraer SA based in Sao Paulo, Brazil, manufacturer of jets. Its focus is to achieve customer satisfaction with and services addressing the commercial airline, executive jets, and defense and security markets. It has developed a customer-centric technology-driven portfolio of commercial aviation products and services that allows it to build long-term relationships with clients in the commercial aviation, executive jets, and defense and security markets. It operates through the various segments namely Commercial Aviation, Defense and Security, Executive Aviation, Service and Support, and Other Segments. The company generates maximum revenue from the Commercial Aviation segment. | $18 | +9% | $13B | $14B | ||||
| Transinc Fundo DE Investimento Imobiliario-FII, Is a Brazil-based asset management company established with a focus on real estate operations in the financial and capital markets. It is involved in managing investment funds, real estate funds, private equity funds, mutual funds, and hedge funds. | $11 | -- | $12B | $12B | ||||
| Caixa Seguridade Participacoes SA is engaged in the structuring and marketing of a broad range of insurance products, private pension plans, and premium bonds, management, marketing, and offering of private medical and dental care plans, rendering of brokerage services for these products, It has three operating segments; Run-off / Open sea (insurance businesses), Insurance (investment in insurance businesses established as a result of the competitive process of choosing strategic partners to operate the CAIXA branch) and Distribution (businesses related to the management of access to the distribution network and use of the CAIXA brand and the brokerage and intermediation of insurance products). | $4 | +46% | $12B | $12B | ||||
| Suzano SA produces and sells pulp and a variety of paper products. The company organizes itself into two segments based on product type: Pulp and Paper. The Pulp segment generates the majority of revenue. The firm's product portfolio includes printing and writing paper, paperboard, diapers, and sanitary napkins. The company owns forest land and plants in Brazil, where it harvests timber and turns the timber into pulp and paper in its plants. | $9 | -2% | $11B | $25B | ||||
| PRIO SA is engaged in the exploration and production of oil and gas in Brazil and abroad. The company is engaged in oil and gas exploration and production in Brazil and overseas. Its exploration assets comprise Polvo field, Tubarao Martelo field, Campo de Frade, East Albacora field, and Wahoo block. | $13 | +98% | $11B | $15B | ||||
| Eneva is a Brazilian integrated energy company active in natural-gas exploration, production, commercialization and thermal power generation. Its operating model links domestic gas resources with power plants and energy-market activities, allowing fuel supply and generation to be managed within one group. The company owns generation assets across several Brazilian states and sells electricity under regulated contracts and market arrangements. It also develops gas infrastructure and commercial solutions intended to connect onshore resources with industrial and power customers. Eneva is publicly listed in Brazil and expanded its installed capacity through multiple acquisitions. The 2024 purchases from Banco BTG Pactual added thermal plants in Espírito Santo and Maranhão to Eneva's operating portfolio. | $5 | +49% | $9.7B | $15B | ||||
| CPFL Energia SA is the holding company of the CPFL Group, operating in Brazil’s electricity sector, implementing and operating projects and concessions in the energy distribution, generation, transmission, and trading segments and related activities through its subsidiaries and affiliate companies. The Group’s operating segments are electric energy distribution, electric energy generation, electric energy commercialization, and services rendered activities. | $8 | +6% | $9.5B | $16B | ||||
| Gerdau SA produces steel and steel products. The company operates in civil construction, agriculture, automotive, iron ore, exports, research and development, and home steel products sectors. It offers products such as nails, rebar, columns, billets, slabs, tribar tutors, mechanical construction bars, and reinforced steel locks. The company's geographical segment includes Brazil Operations; North America Operations; South America Operations as well as Special Steel Operations. It derives the majority of its revenue from the Brazil Operations segment. | $5 | +40% | $8.7B | $10B | ||||
| TIM, which is 67%-owned by Telecom Italia, is the third largest wireless carrier in Brazil, with 62 million subscribers, equal to about 23% of the market. The firm owns 49% of I-Systems, an infrastructure partnership that is expanding its network footprint across Brazil. I-Systems can provide broadband service to about 8 million locations, including 6.5 million with fiber, equal to 10%-15% of the country. TIM leases capacity on the venture's network to serve retail broadband customers under the UltraFibra brand, but it has agreed to buy out its joint venture partner in 2026, taking full ownership of these assets. TIM also resells fiber network access from other providers. | $4 | -21% | $8.5B | $11B | ||||
| Cia Paranaense De Energia Copel is engaged in the areas of generation, transmission, commercialization and distribution of energy. It operates a comprehensive and effective electrical system with its own generating plants, transmission lines, substations, electrical lines and grids of the distribution system. The company's reportable segments include Power generation and transmission, Power distribution, GAS, Power Sale, Services, and Holding. The majority of its revenue is generated from the Power distribution segment under which it provides public electricity distribution services, being responsible for the operation and maintenance of the distribution infrastructure, as well as providing related services. | $3 | +17% | $8.5B | $12B | ||||
| Equatorial SA holds equity interests in other companies, consortia, and ventures that operate in the electric power sector or related activities and other sectors. | $7 | -2% | $8.4B | $19B | ||||
| Odontoprev SA is engaged in providing private dental care plans. The firm operates in three segments which include Corporate, Small And Medium-Sized Enterprises, Individual, and other. | $3 | +14% | $8.1B | $5.5B | ||||
| XP Investimentos is a Brazilian financial services group and investment platform founded in 2001 by Guilherme Benchimol and Marcelo Maisonnave and headquartered in Sao Paulo. It began as an independent brokerage that trained investors and distributed financial products through independent advisers, and it is now listed on the Nasdaq through XP Inc. with Brazilian depositary receipts on B3. The group offers brokerage, fixed income, equities, investment funds, private pension and other products on an open platform, with the Clear and Rico brands. It reported more than 3 million active clients and more than USD 130 billion in custody. From 2021 it bought minority stakes in independent asset managers and research houses and acquired Banco Modal in 2022. | $16 | -13% | $8.1B | $17B | ||||
| ENGIE Brasil Energia SA develops, operates, and commercializes electric energy power plants in Brazil. The company is engaged in segments namely Transmission, Trading, Gas Transportation, and Generation. The majority of the revenue generated by the company is from the Generation segment. | $5 | +0% | $7.5B | $12B | ||||
| Vibra Energia SA is engaged in the marketing and distribution of fuel and lubricants. The company's operating segments includes Retail; Consumer Market; Aviation Market and Special Market. It generates maximum revenue from the Retail segment. The business activities of the company include distribution, transportation, distribution and trading of all energy forms, chemical products and asphalt, provision of related services, and importing and exporting related items. | $6 | +47% | $7.3B | $10B | ||||
| Ultrapar Participacoes SA engages in the investment of its own capital in services, commercial, and industrial activities, through the subscription or acquisition of shares of other companies. The Company has three business segments: Ultragaz distributes LPG in the segments: bulk, comprising condominiums, trade, services, industries, and agribusiness; and bottled, mainly comprising residential consumers. The Ipiranga engages in the distribution and sale of oil-related products, biofuels, and similar products to service stations that operate under the Ipiranga brand throughout Brazil and to consumers and carrier-reseller-retailer. The Ultracargo operates in specialized liquid bulk storage solutions in the main logistics centers of Brazil. | $6 | +62% | $6.9B | $9.2B | ||||
| Cia Energetica DE Minas Gerais - Cemig, formerly Energy Company of Minas Gerais, is a Brazilian power company that generates, transmits, and distributes electricity. As one of the power companies in Brazil, the firm operates across Brazilian states and Chile. The company has various subsidiaries and operates chiefly through its generation, transmission, distribution, and gas segments. The majority of the company's revenue is derived from electricity sales to consumers. The company generates power through hydroelectric resources and, secondarily, through thermal and wind resources. | $3 | +54% | $6.9B | $10B | ||||
| Localiza Rent A Car SA is a car rental service provider with the majority of its operations in Brazil. Through its subsidiaries, the company rents cars to individuals, manages corporate car fleets, sells its fleet to the general public, and offers a franchise model. Franchisees account for roughly half of Localize's car rental locations, while the majority of cars accessible with Localize are owned by the company. The fleet rental division has long-term agreements with companies that come up for renewal roughly every two to three years. The car rental segment delivers three-quarters of yearly revenue, and fleet rental makes up the rest, with an insignificant share contributed by the franchise management division. | $6 | -21% | $6.4B | $13B | ||||
| Porto Seguro SA is one of Brazil's diversified insurance companies that cover vehicles and residential homes. The company operates in many verticals like Insurance, bank, services and other business activities. The company provides a wide range of services including risk underwriting analysis, bike assistance, and surveillance. The company aims to provide products that meet several market needs through the following brands: Porto Seguro, Itau Auto e Residencia, and Azul Seguros and many others. | $9 | +1% | $5.8B | $6B | ||||
| Motiva Infraestrutura De Mobilidade SA is a mobility infrastructure company in Brazil, operating in highway, train, subway and airport concessions. | $3 | -5% | $5.6B | $12B | ||||
| Rumo SA is a service provider in the logistics sector (rail and multimodal transport), mainly for the export of commodities, offering an integrated solution for transportation, handling, storage, and shipping. Its operating segment includes North Operations; South Operations, and Container Operations. The company generates maximum revenue from the North Operations segment. The company's revenue consists of rail freight services, road freight, transport containers, storage and transshipment. | $3 | -2% | $5.4B | $9.5B | ||||
| Raia Drogasil SA is a large retail drug store operator in Brazil. The company is engaged in the retail sale of medicines, perfumery, personal care and beauty products, cosmetics and dermocosmetics and specialty medicines. Its brands include Impulso, Amplimed, HealthBit, Stix, 4Bio, Drogasil, Raia and others. | $3 | -17% | $5.3B | $6.8B | ||||
| Energisa SA is a holding company. Energisa along with its subsidiaries is engaged in the production of energy from renewable sources and; the transmission and distribution of electricity. The company segments include Electricity Distribution, Hydraulic, solar and distributed generation, Electricity Transmission, Marketing, Gas distribution,and Holding company and Services. It generates maximum revenue from the Electricity Distribution segment. | $2 | -13% | $4.7B | $11B | ||||
| CSN Mineracao SA is engaged in the steelmaking business. The company operates in steel, mining, cement, logistics, and energy segments. The product portfolio includes flat, long, steel packaging, steel cutting services, and others. The company operates in Asia, Europe and Domestic Country, with majority of revenue from Asia. | $1 | -24% | $4.6B | $4.8B | ||||
| Rbr Desenvolvimento Comercial Feeder Fof Fundo DE Inv Imob is Brazil based company. It is a real estate investment fund. | $14 | -22% | $4.6B | $4.6B | ||||
| Brookfield Infrastructure Corp is an indirect subsidiary of the partnership of the diversified infrastructure owner and operators. Its business is comprised of a U.K. regulated distribution operation, a Brazilian regulated natural gas transmission operation and an international intermodal logistics operation. Geographically, the company generates a majority of its revenue from Brazil and rest from United Kingdom, United States, France, Switzerland, Singapore, China, Denmark, Hong Kong, Germany and Others. | $37 | -18% | $4.6B | $20B | ||||
| Klabin SA operates in various segments of the pulp and paper industry, supplying domestic and foreign markets with wood, bleached pulp, packaging paper, paper sacks, and corrugated cardboard boxes. The firm organizes itself into four segments based on product type: Forestry, Paper, Packaging, and Pulp. The Forestry segment involves operations related to planting and growing pine and eucalyptus trees and selling timber to third parties. The Paper segment mainly involves the production of cardboard, Kraftliner, and recycled paper rolls, and their sale. The Packaging segment, which derives maximum revenue, involves the production and sale of corrugated cardboard boxes, cardboard, and industrial bags. The Pulp segment includes the production and sale of short, long, and fluff fiber pulp. | $1 | +8% | $4.3B | $11B | ||||
| Marfrig Global Foods SA is a Processing of products (formed by cattle slaughter facilities in operation, which are also used in beef processing, and for the manufacture of animal nutrition products) and sale of animal-based (beef, pork, lamb, fish, and poultry) and plant-based proteins. The company organizes itself into four main segments: Beef - North America, Beef - South America, Poultry, Pork and Processed Products – BRF, and Corporate. The company earns more than half of its revenue through its operations in Beef - North America. | $3 | -8% | $4.3B | $14B | ||||
| Isa Energia Brasil SA Formerly Cia de Transmissao de Energia Eletrica Paulista, or CTEEP, is a Brazilian private-public utility concession company involved in the transmission of electric power. Through its subsidiaries, CTEEP plans, constructs, operates, and maintains electric transmission systems and transmission-related infrastructure projects throughout the country of Brazil. The company segments its operations in one business segment: which is electric power transmission. | $7 | +50% | $3.9B | $7B | ||||
| TOTVS is a Brazilian software company headquartered in Sao Paulo and listed on the B3 under the ticker TOTS3. It was founded in 1983 as Microsiga by Laercio Cosentino and Ernesto Haberkorn and took its present name after the merger with Logocenter in 2005. It sells enterprise resource planning software, financial technology services through its Techfin unit, a joint venture with Itau Unibanco, and marketing and sales automation through RD Station. It serves more than 70,000 clients in twelve segments of the Brazilian economy, has about 12,000 employees and reported revenue of BRL 5.38 billion in 2024. It has made more than fifty acquisitions, including Datasul in 2008, Bematech in 2015, RD Station in 2021 and Linx in 2025. | $7 | -19% | $3.7B | $4.3B | ||||
| Compania de Saneamento de Minas Gerais - COPASA MG provides water supply, sewage, and solid waste services. The company operates out of subsidiaries COPASA Servicos de Irrigacao S.A., COPASA Aguas Minerais de Minas S.A, and COPANOR. COPASA Servicos de Irrigacao S.A. manages, performs, and sells irrigation system services. COPASA Aguas Minerais de Minas S.A. produces, bottles, distributes, and sells mineral water. COPANOR provides water supply and sewage treatment services across the North and Northeast regions of the State of Minas Gerais. A majority of revenue is derived from water services while the rest is derived from sewage services. The company operates out of Brazil, where an amount of revenue is generated. | $10 | +35% | $3.6B | $5.1B | ||||
| Compass Gas E Energia SA is focused on natural gas distribution, through Comgas; infrastructure and origination of gas, having access to the competitive supply of pre-salt gas and importing liquefied natural gas (LNG); gas trading, optimizing supply and demand portfolio, building diversification, flexibility, and competitiveness; and gas-powered thermal generation and energy trading, transforming gas into electricity. It operates in two segments: Gas distribution and Marketing & services. The majority of revenue is generated from the Gas distribution segment. The majority of revenue comes from the Sales of gas distribution and energy commercialization. | $4 | -- | $3.1B | $5.9B | ||||
| CIA de Gas de Sao Paulo - COMGAS distributes piped natural gas in part of the State of Sao Paulo for consumers in the industrial, residential, commercial, automotive, thermal generation and cogeneration sectors. | $23 | -5% | $3.1B | $4.4B | ||||
| Hypera SA is a specialty and generic drug manufacturing company. The company has a focus on the pharmaceutical segments of the Brazilian market, along with a presence in nonprescription drugs and branded generics. Hypermarcas also possesses a share of generic medicines and prescription products. The company also has a wide sales and distribution structure. The Company's operating segments are Consumer Health, Branded Prescription, Similars e Generics, Skincare and the Non-Retail Market. | $4 | -15% | $2.8B | $4B | ||||
| CIA Distrib de Gas do Rio de Janeiro - CEG operate as a public gas services, of any type and origin, in the State of Rio de Janeiro and to explore, exclusively, the distribution of piped gas. It distributes natural gas for the residential, commercial, industrial, electrical power generation sectors and also for compressed natural gas stations. | $11 | -40% | $2.7B | $2.7B | ||||
| Metalurgica Gerdau SA produces steel and steel products used in construction, industrial, agricultural and automotive sectors. Its products include steel columns, nails, transfer bars for the construction sector; billet, electrodes, mechanical construction wire rods for the industrial sector; staples, steel posts, tribars, galvanized wires for agricultural sector; mechanical construction ingots, mechanical construction wires, and various other products for the automotive sector. Its revenue is generated by sales of long steel to nonresidential construction and infrastructure sector in North America. | $2 | +22% | $2.6B | $11B | ||||
| Transmissora Alianca de Energia Eletrica SA, or Taesa, is an electric utility company that acts as one of the electric transmission concessionaires in Brazil. Taesa implements, operates, and maintains electric power transmission services and facilities both for Brazil's National Interconnected System and for the electricity transmission sectors of other countries as well. The company generates the majority of its revenue in the form of compensation for its investments in the construction of transmission lines and for the operation and maintenance service that it provides all over Brazil. Taesa's controlling shareholders include a large, state-owned Brazilian power company, CEMIG. | $2 | +6% | $2.6B | $4.6B | ||||
| Rede Energia Participacoes SA along with its subsidiaries generates, distributes and markets electrical energy as well as provides services related to electricity sector. It provides its services to residential, commercial, industrial, rural and public customers. | $1 | -14% | $2.5B | $5.7B | ||||
| Multiplan Empreendimentos Imobiliarios SA is a general real estate company. The company reports four segments: Properties for lease, Real estate for sale, Projects, and Management and other. It derives key revenue from the Properties for lease segment which represents income generated from renting out spaces in malls and office buildings, and the income generated from the provision of parking spaces. Geographically, the company operates in Brazil. | $5 | +2% | $2.5B | $3.4B | ||||
| MRS Logistica SA is a publicly-held corporation engaged in the transportation services. The company operates a public railway transportation concession in the Southeast network, located in the States of Rio de Janeiro, Sao Paulo, and Minas Gerais. It interconnects the states of Rio de Janeiro, Minas Gerais, and Sao Paulo, spanning through the region that concentrates approximately 50% of Brazil's gross domestic product. Through MRS' railways, it also provides transport to reach the ports of Itaguai and Santos and Latin America. The company generates its entire revenue from providing cargo transport services in the Southeast Brazil. | $8 | +32% | $2.5B | $4B | ||||
| ALLOS SA Formerly Aliansce Sonae Shopping Centers SA is a full-service company engaged in investing, directly or indirectly in commercial centers, shopping malls, and similar ventures, and in other companies as a partner or stockholder, as well as rendering commercial advisory services, and management of shopping malls and condominiums. It has three operating segments; Rent refers to the operating leases of the shopping malls that include rent, assignment of the right of use, and transfer fee revenue, Parking lot refers to the operation of the parking lot of the shopping mall, and Rendering of services involves the trading, rental, and condominium management and development/planning services carried out in shopping malls owned by the Company and third parties. | $5 | +5% | $2.4B | $3.2B | ||||
| Fleury SA is engaged in the provision of medical services in the diagnostic, treatment, clinical analysis, health management, medical care, orthopedics and ophthalmology areas and offers its digital healthcare platform. The company carries out its activities through customer service units and hospital-based units. Furthermore, the company has a mobile service operation with coverage in municipalities in addition to a digital platform. It has two reportable business segments: Diagnostic Medicine and Integrated Medicine. The maximum revenue is generated from Diagnostic Medicine Segment. | $4 | +60% | $2.3B | $3B | ||||
| PagSeguro Digital Ltd is a Brazilian-based company that acts as a provider of financial technology solutions focused on Micro-Merchants, Small Companies and Medium-Sized Companies (SMEs), in Brazil. The company provides a range of solutions and tools such as cash-in and cash-out options and provides access to working capital to help to manage its cash flow. It delivers an end-to-end digital ecosystem to address day-to-day financial needs, including receiving and spending funds and managing and growing businesses for clients. The company also offers the Free PagSeguro Digital Account delivering Cash-In Solutions, Online and In-Person Payment Tools, Online Payment Tools; and Web Check Outs offer tokenization, handling of shipping information, and others. | $8 | -13% | $2.3B | $10B | ||||
| Auren Energia SA operates as an energy company. Its activity includes Wind power generation, Hydropower generation, Commercialization, Sale of energy and Holding and Pipeline projects. | $2 | +2% | $2.2B | $6.2B | ||||
| Alupar Investimento SA is an investment in other entities operating in the energy and infrastructure industries, in Brazil and abroad. It has two segments Transmission segment and the Generation segment. Its sources of revenue include energy transmission revenue, infrastructure revenue, revenue from the remuneration of concession assets, and revenue from energy supply. The majority of revenue comes from the remuneration of concession assets. It generates the vast majority of its revenue in Brazil. | $2 | +8% | $2.2B | $4.7B | ||||
| Companhia de Eletricidade do Estado da Bahia - Coelba is a Neoenergia group that distributes electricity. | $8 | +28% | $2.2B | $6B | ||||
| Equatorial Para Distribuidora De Energia SA engages in the generation, transmission, and distribution of electricity in Brazil. The company supplies electricity for residential, commercial, industrial, and rural consumption. It operates through various power generation sources, including thermal, hydroelectric, nuclear, and wind plants. | $1 | -10% | $2.1B | $3.3B | ||||
| Sendas Distribuidora SA is involved in the consumer goods business. Its cash and carry operations involve sales of items of grocery, food, perishable, beverage, wrapping, hygiene, and cleaning products, among others. Its customers include prepared food retailers (including restaurants, pizzerias, and snack bars), end-users (including schools, small businesses, religious institutions, hospitals, and hotels), conventional retailers such as grocery stores and neighborhood supermarkets, and individuals. Its stores are located throughout Brazilian states. | $2 | -6% | $2B | $6.2B | ||||
| Establishment Labs Holdings Inc is a medical technology company engaged in offering medical devices and aesthetic products. It is involved in the designing, manufacturing, and marketing of silicone-filled breast and body-shaping implants. The company markets its products under Motiva implants Brand. It distributes its products to medical distributors; and physicians, hospitals, and clinics in the form of direct sales. Its geographical segments are Europe, Latin America, Asia-Pacific/Middle East, and Others. | $67 | +40% | $2B | $2.2B | ||||
| Cosan SA engages in several services throughout the energy and logistics sectors. Its reportable segments are Raizen, Compass, Moove, Rumo, and Radar. It generates the majority of its revenue from Raizen which operates in the production, commercialization, origination, and trading of ethanol, bioenergy, resale, and trading of electricity, renewable sources, marketing, origination, and trading of sugar and fuels, and lubricant. | $1 | -56% | $2B | $15B | ||||
| Smartfit Escola DE Ginastica E Danca SA is a fitness club. The company provides physical conditioning services through gymnasiums, bodybuilding, dancing and swimming. Facilities offered by the company include SmartBox, free weight, gym classes, bicycles, smart bike, fitness equipment, and a running machine, among others. The Company is present in fourteen countries, namely Brazil, Mexico, Colombia, Chile, Peru, Argentina, Paraguay, Panama, Costa Rica, Dominican Republic, Ecuador, Guatemala, El Salvador, and Honduras, operating in the HVLP segment with the brand Smart Fit, in the Premium segment with the brand Bio Ritmo, and in the digital fitness segment. | $3 | -31% | $2B | $4B | ||||
| Inter & Co Inc operates as a digital bank. The company's segment includes Banking & Spending; Investments; Insurance Brokerage; and Inter Shop. It generates maximum revenue from the Banking & Spending segment which comprises a wide range of banking products and services, such as checking accounts, cards, deposits, loans and advances, and other services, which are available to the clients by means of Inters mobile application. | $4 | -52% | $2B | $2B | ||||
| CIA Saneamento Do Parana-SANEPAR provides treated water supply sewage collection & treatment, and Solid waste management services. The company provides sanitation services to cities, smaller areas, and municipalities. The firm operates in two business segments: Water treatment & distribution and Sewage collection & treatment. It has a network for the withdrawal & distribution of drinking water, sewage collection, and the discharge of treated sewage. The firm operates landfills in Apucarana, Cornello, Procopio, and Cianorte for solid waste management. The majority of revenue get derived from the Water distribution and treatment segment. | $1 | +2% | $1.9B | $2.4B | ||||
| BCO Nordeste do Brasil SA provides various financial products and services to economic and institutional agents, and private individuals. It provides current and checking accounts; credit card, personal credit, and overdraft services; and investments products, as well as car, life, residential, and lender insurance services. The company also provides financing programs, collection, reinvestment, capital market, foreign exchange and trade, microfinance, credit programs for the public sector, transfers and covenants, and payroll services. | $19 | +1% | $1.9B | $1.9B | ||||
| StoneCo Ltd is a provider of financial technology solutions. It serves MSMBs solutions, at fair prices, and provides the customer experience to help them manage their businesses and sell more. Its Stone Business Model combines end-to-end, cloud-based technology platforms; differentiated hyper-local and integrated distribution approaches; and white-glove, on-demand customer service. The brands of the company include: Stone: For small and medium-sized businesses, all management is integrated with the payment terminal, business bank account, and card, all within the same app. Ton: For micro-entrepreneurs and freelancers, modern card machines, sales via Pix or TapTon, and a Super Account. Stone pagar.me for those who sell online. Digital payment technology for all types of businesses. | $8 | -58% | $1.9B | $3.1B | ||||
| Lojas Renner SA is a retailer that operates stores under brand names including Renner, Camicado, and Youcom. Renner and Youcom stores sell clothing, sports articles, accessories, and cosmetics. The company operates in two segments: Retail segment involves sale of garment items, perfumery, cosmetics, watches, as well as the home & decoration segment, urban deliveries, and logistics management solutions covering the operations of Renner, Camicado, Youcom, Repassa, Uello, and the operations in Uruguay and Argentina; and Financial products segment involves granting of loans to individuals and legal entities, financing of purchases, insurance, and credit and debit transactions inherent to credit, financing and investment companies. It derives maximum revenue from Retail segment. | $2 | -34% | $1.7B | $2B | ||||
| Grupo Mateus SA which which operate in the wholesale and retail, electro, mix, and industry segments through the subsidiary. The company has its operations in the supermarket, wholesale, appliance, furniture, bakery, slicing, and portioning. The business's product portfolio consists of maetus, mix atacarejo, camino supermercados, electro mateus among others. | $1 | -40% | $1.7B | $2.9B | ||||
| Orizon Valorizacao De Residuos SA is a waste treatment and recovery company. The company offers solid waste treatment services, treatment of gases, processing and industrialization of waste, monitoring groundwater, and environmental remediation services. | $3 | +17% | $1.7B | $2.2B | ||||
| Brava Energia SA is engaged in the oil and gas sector with a focus on the redevelopment of mature production fields located onshore, in shallow waters, and offshore. The company operates in the following business segments: Exploration and Production (E&P), Mid and Downstream, and Corporate and other businesses. Maximum revenue is generated from the Mid and Downstream segment, which includes the activities of refining, logistics, transportation, acquisition and export of crude oil, as well as the purchase and sale of oil derivatives in Brazil. This segment acquires crude oil from the E&P segment and acquires oil derivatives in local and international markets. The Exploration and Production segment includes oil and gas exploration and production activities in Brazil. | $4 | +29% | $1.6B | $4.4B | ||||
| Cury Construtora E Incorporadora SA is engaged in the real estate business. It develops commercial, residential buildings, condominiums and housing complexes. | $5 | -18% | $1.6B | $1.7B | ||||
| GPS Participacoes E Empreendimentos SA is engaged in the provision of property security services, sanitation and cleaning services, indoor logistics services, electronic security services, implementation, operation and building maintenance, maritime hotel services on oil platforms, kitchen services and meal sales, highway maintenance services, and participation in companies through the acquisition of shares or capital quotas. | $2 | -33% | $1.6B | $2B | ||||
| SLC Agricola SA is an agricultural company. Its core business activities include the production and sale of seeds and saplings; the processing and trading of its products, the supply of primary agricultural goods and products; the rendering of inbound logistics, cleaning, drying and storage services as well as rendering services of agricultural machinery and equipment to third parties; the trading, import and export of agricultural products; and processing of sugarcane, ethanol and its byproducts. It operates through two business segments viz. The agricultural production segment comprises the cultivation of cotton, soybean and corn and the Land portfolio segment includes the acquisition and development of land for agriculture. Its products are cotton, corn, soybean, and other. | $3 | +21% | $1.6B | $3.7B | ||||
| Alpargatas SA primarily manufactures footwear, apparel, and sports items. Brands the company owns or manufactures under license include Havaianas, dupe, Osklen, Mizuno, Megga, and Sete Leguas. Alpargatas reaches consumers through third-party retailers and through its own retail stores. Most of the company's sales are in Brazil and Argentina, with sales in Brazil accounting for more than half of the company's total sales. Remaining revenue is generated by the company's subsidiaries in Europe and the United States, and through direct exports. | $2 | +6% | $1.6B | $1.7B | ||||
| Kinea Rendimentos Imobiliarios Fundo de Investimento Imobiliario - FII is a real estate investment fund. It invests in real estate including financial assets & mortgage-backed securities. | $20 | +1% | $1.5B | $1.5B | ||||
| Energisa Mato Grosso Distribuidora de Energia SA is engaged in the distribution, transmission, generation & marketing of electric energy. It operates a transmission & distribution network and five thermoelectric generation plants. | $7 | -35% | $1.5B | $3.1B | ||||
| Arcos Dorados Holdings Inc operates McDonald's branded restaurants in various countries and territories in Latin America and the Caribbean. The Company manages its business as distinct geographic segments and its operations are divided into three geographic divisions, as follows: Brazil, the North Latin American division, or NOLAD, which is comprised of Costa Rica, Mexico, Panama, Puerto Rico, Martinique, Guadeloupe, French Guiana and the U.S. Virgin Islands of St. Croix and St. Thomas and the South Latin American division, or SLAD, which is comprised of Argentina, Chile, Ecuador, Peru, Uruguay, Colombia, Venezuela, Trinidad and Tobago, Aruba and Curacao. Its menu includes hamburgers, McNuggets, salad, sandwiches, French fries, and others. It generates maximum revenue from Brazil. | $7 | -2% | $1.5B | $3.4B | ||||
| Natura Cosmeticos SA is operating mainly in the cosmetics, fragrance, and personal hygiene segments, through the development, manufacture, distribution, and commercialization of its products. The brands managed by the company include the following: Natura, The Body Shop, Avon, and Aesop. In addition to using the retail market, e-commerce, business-to-business (B2B), and franchises as sales channels for the products, the company and its subsidiaries highlight the performance of the direct sales channel carried out by Natura and The Body Shop brands' consultants. Geographically, the group operates in Brazil and also maintains a presence in international markets. | $1 | -38% | $1.4B | $2.3B | ||||
| Companhia Brasileira de Aluminio SA is engaged in the exploration of bauxite mining in Brazil, producing and/or trading bauxite, alumina, primary aluminum, and semi-fabricated products in Brazil and abroad. The Company has a wide product range, such as ingots, billets, plates, coils, foil, and extruded products. The company has three operating segments; the Aluminum segment comprises the operations of the aluminum production chain, from bauxite mining to the production of primary and downstream products, the Energy segment; Comprises the sale of surplus energy to the market only, and the Nickel segment; considers the operations of the Nickel and Legado Verdes do Cerrado Plants. | $2 | +122% | $1.4B | $2B | ||||
| Iguatemi SA is a holding company. Through its direct and indirect subsidiaries and joint ventures, it is engaged in business segments such as shopping centers, telecommunications, contact center and services. The Group’s revenue derives from contracts with customers, leases, provision of services, parking lots and property sales. Majority of revenue is generated from Rents. | $1 | +14% | $1.3B | $1.7B | ||||
| Bradespar SA is a Brazil-based holding company whose corporate purpose and single business segment is to hold equity interest as a partner or shareholder in other companies. Its holding companies include Millennium Security Holdings, which does business in the British Virgin Islands; and Vale S.A., which produces iron ore, raw materials for the steel and nickel industries, and metals. The company's operating income originates from equity accounting, dividends, and interest on equity received from Vale and interest from redeemable shares received. | $3 | -6% | $1.3B | $1.3B | ||||
| Kinea Indices Precos Fundo Investimento Imobiliario - FII is a real estate investment trust engaged in real estate sector. | $17 | +1% | $1.3B | $1.3B | ||||
| Fundo de Investimento Imobiliario Ancar I C is a real estate investment trust. The company invests majorly in Shopping Centers. | $38 | -17% | $1.3B | $1.9B | ||||
| Banco Mercantil do Brasil SA offers commercial banking services. It offers personal and corporate credit cards, lease financing, business financing services, Internet banking, and other financial services. The company offers checking and savings accounts, and time deposits and funds; payroll-deductible loans, personal loans, overdraft facilities, credit cards, and vehicle financing services; private pension, insurance, and capitalization products and services; and collection, payment of taxes and fees to individuals. | $10 | -8% | $1.3B | $1.3B | ||||
| Usinas Siderurgicas de Minas Gerais SA is a Brazil-based company engaged in producing and distributing flat steel products. The company's product portfolio comprises ordinary heavy plates, Sincron series premium heavy plates, hot strips, cold-rolled, and galvanized products. These products are used in automotive, civil construction, railway, electric, white goods, offshore platforms, and agricultural and construction machinery. The Brazilian domestic market represents the majority of the company's sales, while the United States, Argentina, and Turkey are the export destination markets for the company. | $1 | -1% | $1.3B | $1.8B | ||||
| Cyrela Brazil Realty SA Empreend e Part is a Brazilian construction company engaged in the development and construction of residential properties, individually or together with other entities. The company has four operating segments; the Cyrela segment includes real estate projects classified by the Launch Committee as high-end and luxury, both of the Parent and joint ventures, the Living segment includes real estate projects classified by the Launch Committee as Living, both of the Parent and joint ventures, MCMV segment includes real estate projects defined by the Launch Committee as Minha Casa, Minha Vida, both of the Parent and joint ventures and Other segment include land subdivision and service rendering activities. | $4 | -37% | $1.3B | $2.4B | ||||
| JHSF Participacoes SA is a real estate company. The company is involved in in the development, purchase and sale, as well as lease of residential and commercial properties; the construction and operation of shopping centers; the provision of administration and contract management services, and the operation of hotels and tourist activities. JHSF has four segments of business: Recurring income, Real estate business and airport, Hotels and restaurants and Main administrative office. | $2 | +59% | $1.3B | $1.7B | ||||
| BCO Estado do Rio Grande do Sul SA is a Brazil-based commercial bank that provides personal and corporate banking services. It provides financial services such as multiple banks, providing brokering services, consortia, card management, and warehouses. The company with its subsidiaries and affiliates operates commercial, lending, financing and investment, mortgage loan, development, leasing, and investment portfolios, including foreign exchange transactions, securities brokerage, and credit card and consortium management. | $4 | +42% | $1.3B | $1.3B | ||||
| XP Malls Fundo De Investimento Imobiliario is a real estate investment trust. Its objective is to obtain income through the commercial operation of shopping malls, as well as capital gain through the purchase and sale of properties. | $19 | -5% | $1.2B | $1.2B | ||||
| Companhia Siderurgica Nacional is an integrated steel producer. together with its subsidiaries operates in five main business segments: Steel industry: production and marketing of flat and long steels; Mining: extraction, processing and marketing of iron ore, tin, limestone and dolomite; Cement: production and commercialization of bagged and bulk cement, in addition to aggregates, concrete, and other related products; Energy: generation and sale of energy from almost all renewable sources; and Logistics: participations in railways and port terminals. The group generates the majority of its revenue from the Steel industry segment. Geographically, it derives a majority of revenue from Asia. | $1 | -49% | $1.2B | $9.3B | ||||
| Centrais Eletricas de Santa Catarina SA is a Brazil-based company. It is engaged in the generation, transmission, and distribution of electric energy. The company's segments are Celesc D, and Celesc G. The company, through its subsidiaries, is also engaged in the operation, maintenance, expansion and sale related to its generating complex, formed by hydroelectric power plants established in partnership with private investors. | $27 | +41% | $1.2B | $2B | ||||
| Sao Martinho SA operates the following segments: sugar, ethanol, electricity, real estate ventures, Yeast, and other products. Sales of sugar and ethanol, both of which the company produces with sugar cane, comprise the vast majority of the company's revenue. Sao Martinho produces sugar and ethanol in its four Brazilian mills. The company derives its sugar cane mostly from its own plantations, agricultural partnerships, shareholders, and related companies. Sao Martinho exports most of its sugar, and it sells most of its ethanol domestically. | $4 | +40% | $1.2B | $2.3B | ||||
| Banco ABC Brasil SA operates as a commercial bank specializing in lending and providing services for mid-size and large companies. It focuses on asset and liability operations across multiple banking activities and is authorized to operate in commercial banking, foreign exchange, investment banking, credit, financing, and real estate credit. The company's activities also include debt and equity capital markets, mergers and acquisitions, project finance, energy trading, and insurance brokerage. It derives the majority of its revenue from financial guarantees provided. | $5 | +8% | $1.2B | $1.2B | ||||
| Median | $5 | -1% | $3.1B | $6B | 2.1x | 7.2x |
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