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Afya Valuation Multiples

Discover Afya's revenue and EBITDA valuation multiples, acquisitions, and investment history, alongside public comparables like Youdao, National Company for Learning & Education, Advtech, Phoenix Education and more.

Afya Overview

About Afya

Afya Ltd is a medical education group based in Brazil. Its education portfolio has several courses in addition to Medicine, such as Management, Dentistry, Law, Engineering, Nursing, Psychology, and Accounting Sciences, among others. It has three segments; Undergrad provides educational services through undergraduate courses related to medical school, undergraduate health science and other ex-health undergraduate programs, Continuing Education provides medical education, specialization and graduate courses in medicine, delivered through digital and in-person content; and Medical practice solution provides clinical decision, clinical management and doctor-patient relationships for physicians and provide access, demand and efficiency for the healthcare players.


Founded

2019

HQ

Brazil

Employees

9.7K

Financials (LTM)

Revenue: $742M
EBITDA: $328M

EV

$2B

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Afya Financials

Afya reported last 12-month revenue of $742M and EBITDA of $328M.

In the same LTM period, Afya generated $328M in EBITDA and $149M in net income.

Revenue (LTM)


Afya P&L

In the most recent fiscal year, Afya reported revenue of $734M and EBITDA of $332M.

Afya is profitable as of last fiscal year, with gross margin of 64%, EBITDA margin of 45%, and net margin of 20%.

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LTMLast FY202320242025202620272028
Revenue$742M$734M$571M$656M$734M
Gross Profit-$473M$351M$415M$473M
Gross Margin-64%61%63%64%
EBITDA$328M$332M$219M$273M$332M
EBITDA Margin44%45%38%42%45%
EBIT Margin33%33%27%31%33%
Net Profit$149M$149M$77M$125M$149M
Net Margin20%20%13%19%20%
Net Debt-$184M---

Financial data powered by Morningstar, Inc.

Afya Stock Performance

Afya has current market cap of $1B, and enterprise value of $2B.

Market Cap Evolution


Afya's stock price is $14.38.

Afya share price increased by 2.5% in the last 30 days, and decreased by 19.5% in the last year.

Afya has an EPS (earnings per share) of $1.68.

See more trading valuation data for Afya
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$2B$1B-1.2%2.5%-3.3%-19.5%$1.68

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Afya Valuation Multiples

Afya trades at 2.2x EV/Revenue multiple, and 5.0x EV/EBITDA.

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EV / Revenue (LTM)


Afya Financial Valuation Multiples

As of June 3, 2026, Afya has market cap of $1B and EV of $2B.

Afya has a P/E ratio of 8.6x.

LTMLast FY202320242025202620272028
EV/Revenue2.2x2.2x2.9x2.5x2.2x
EV/EBITDA5.0x5.0x7.5x6.0x5.0x
EV/EBIT6.7x6.9x10.9x8.2x6.9x
EV/Gross Profit-3.5x4.7x4.0x3.5x
P/E8.6x8.6x16.7x10.2x8.6x
EV/FCF8.0x7.1x10.4x8.0x7.1x

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Verified Afya Valuation Multiples

Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.

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Afya Margins & Growth Rates

Afya grew revenue by 9% and EBITDA by 3% in the last fiscal year.

In the most recent fiscal year, Afya reported gross margin of 64%, EBITDA margin of 45%, and net margin of 20%.

See estimated margins and future growth rates for Afya

Afya Margins

Last FY202420252026202720282029
Gross Margin64%63%64%-
EBITDA Margin45%42%45%43%
EBIT Margin33%31%33%33%
Net Margin20%19%20%19%
FCF Margin32%31%32%26%

Afya Growth Rates

FY+1/FY23/2424/2525/2626/2727/2828/29
Revenue Growth9%15%12%9%
Gross Profit Growth-18%14%-
EBITDA Growth3%24%22%3%
EBIT Growth8%32%20%8%
Net Profit Growth4%63%19%4%
FCF Growth(10%)30%12%(10%)

Data powered by FactSet, Inc. and Morningstar, Inc.

Afya Operational KPIs

Afya's revenue per employee in the last FY averaged $0.1M, while opex per employee averaged $0.0M for the same period.

Afya's Rule of 40 is 52% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Afya's Rule of X is 65% (created by Bessemer, Rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Access forward-looking KPIs for Afya
LTMLast FY202320242025202620272028
Rule of 4055%52%---
Bessemer Rule of X72%65%---
Revenue per Employee-$0.1M---
Opex per Employee-$0.0M---
G&A Expenses to Revenue--35%--
Opex to Revenue-32%35%33%32%

Data powered by FactSet, Inc. and Morningstar, Inc.

Valuation Multiples Across 230+ Verticals

EV/RevenueEV/EBITDA
Last FYLTM2027ELast FYLTM2027E
Youdao1.8x1.7x40.6x33.9x
National Company for Learning & Education8.5x7.8x22.6x20.2x
Advtech2.8x2.7x10.1x9.7x
Phoenix Education1.0x0.9x4.0x3.9x
Cengage----
HUMANSOFT Holding2.9x2.9x5.5x5.9x
Lincoln Educational Services3.4x3.2x26.0x24.3x
Cogna Educação1.5x1.4x4.3x4.4x

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Acquisitions by Afya

Afya has acquired 16 companies to date.

Last acquisition by Afya was on December 19th 2024. Afya acquired Faculdade Única de Contagem for $17M (EV/Revenue multiple available to Pro users).

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Latest Acquisitions by Afya

Faculdade Única de Contagem
Unidompedro
Faculdade Dom Luiz
Glic
Description
Faculdade Única de Contagem is a Contagem, Brazil-based higher education institution offering medical, nursing, and health sciences programs with clinical training facilities. Part of the UniBH network since 2008, it enrolls 5,000 students annually in courses accredited by MEC, featuring simulation labs and partnerships with Hospital Mater Dei for internships. The campus spans 50,000 square meters with modern anatomy and research centers.
Unidompedro is an educational institution offering courses in higher education, science, arts, and culture in Pedro II, Brazil. It operates undergraduate programs in fields such as pedagogy, administration, law, and nursing alongside technical courses in agribusiness and informatics. The institution manages cultural events, scientific research initiatives, and community arts programs through partnerships with local universities and cultural centers.
Faculdade Dom Luiz de Orleans e Bragança is a São Paulo-based Brazilian college offering undergraduate programs in social work, pedagogy, and business administration. The institution focuses on evening classes for working professionals and integrates community service projects addressing urban social issues. Faculdade Dom Luiz enrolls 2,000 students and holds recognition from São Paulo's education council. Founded in 2002, it promotes ethical leadership training.
Glic is a Brazil-based web and mobile platform for glycemic control in diabetes management. It connects patients, caregivers, doctors, and nutritionists via electronic medical records for real-time data sharing and treatment decisions. The tool generates market indicators from user data across Brazilian regions.
HQ CountryBrazilBrazilBrazilBrazil
HQ City
Contagem
Salvador
Salvador
Barueri
Deal Date19 Dec 20242 May 20242 May 202423 May 2022
Valuation$17M$112M$112M$4M
EV/Revenue
EV/EBITDA

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Investments by Afya

Afya has invested in 3 companies to date.

Latest investment by Afya was on August 20th 2025. Afya invested in Marisa.Care in their $2M Pre-seed round (EV/Revenue multiple available to Pro users).

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Latest Investments by Afya

Marisa.Care
Caveo
Faster
Description
Marisa.Care is a SĆ£o Paulo-headquartered AI platform optimizing hospital revenue cycles in Latin America through clinical gap detection and patient engagement. Deployed in facilities in Brazil and Mexico, its agents analyze electronic health records to trigger outreach via SMS and voice calls, achieving 30 percent uplift in procedure scheduling. The backend integrates with Epic and Cerner systems for predictive analytics on readmissions.
Caveo is a SĆ£o Paulo-based financial platform designed for Brazilian physicians, offering automated income tracking, tax optimization, and investment portfolios. It aggregates earnings from multiple clinics and health plans, providing personalized savings plans compliant with Receita Federal regulations. Caveo serves over 10,000 doctors with tools for expense management and retirement planning, integrating with banks like ItaĆŗ and Nubank. Launched in 2021, the platform emphasizes secure data handling under LGPD standards.
Faster is a Sao Paulo-based creative services platform founded in 2021 that enables marketing teams at high-growth companies to commission design projects like social media graphics, infographics, banners, and presentations within 24 hours. The subscription model provides unlimited revisions, asset libraries, and project management tools for brands such as Magazine Luiza and Nubank. Faster streamlines workflows by eliminating freelance coordination and agency delays across Latin America.
HQ CountryBrazilBrazilBrazil
HQ City
Belo Horizonte
SĆ£o Paulo
SĆ£o Paulo
Deal Date20 Aug 202513 Jun 20241 Aug 2021
RoundPre-seedSeedAngel
Raised$2M$400K$200K
InvestorsAfya; Paulo Chapchap; Roberto Botelho; SƩrgio Ricardo SantosAfyaDOMO.VC; Flavia Buchmann; Afya; Marco Fisbhen; Paulo Silveira; Roberto Grosman
Valuationundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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About Afya

When was Afya founded?Afya was founded in 2019.
Where is Afya headquartered?Afya is headquartered in Brazil.
How many employees does Afya have?As of today, Afya has over 9K employees.
Who is the CEO of Afya?Afya's CEO is Virgilio Deloy Capobianco Gibbon.
Is Afya publicly listed?Yes, Afya is a public company listed on Nasdaq.
What is the stock symbol of Afya?Afya trades under AFYA ticker.
When did Afya go public?Afya went public in 2019.
Who are competitors of Afya?Afya main competitors include Youdao, National Company for Learning & Education, Advtech, Phoenix Education, Cengage, HUMANSOFT Holding, Lincoln Educational Services, Cogna Educação, Coursera, AcadeMedia.
What is the current market cap of Afya?Afya's current market cap is $1B.
What is the current revenue of Afya?Afya's last 12 months revenue is $742M.
What is the current revenue growth of Afya?Afya revenue growth (NTM/LTM) is 11%.
What is the current EV/Revenue multiple of Afya?Current revenue multiple of Afya is 2.2x.
What is the current EBITDA of Afya?Afya's last 12 months EBITDA is $328M.
What is Afya's EBITDA margin?Afya's last 12 months EBITDA margin is 44%.
What is the current EV/EBITDA multiple of Afya?Current EBITDA multiple of Afya is 5.0x.
What is the current FCF of Afya?Afya's last 12 months FCF is $206M.
What is Afya's FCF margin?Afya's last 12 months FCF margin is 28%.
What is the current EV/FCF multiple of Afya?Current FCF multiple of Afya is 8.0x.
How many companies Afya has acquired to date?As of June 2026, Afya has acquired 16 companies.
What was the largest acquisition by Afya?$119M acquisition of UNIGRANRIO on 27th May 2021 was the largest M&A Afya has done to date.
What companies Afya acquired?Afya acquired UNIGRANRIO, Unidompedro, Faculdade Dom Luiz, FESAR, UniRedentor, iClinic, PEBmed, Faculdade Única de Contagem, RX PRO, Cardiopapers, and 6 other companies.
In how many companies Afya has invested to date?As of June 2026, Afya has invested in 3 companies.
In what companies Afya invested in?Afya invested in Marisa.Care, Caveo, and Faster.

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