Also trades as: MBRFY (OTC) · $vol 1M

R$17.05 ($3.26)

+0.15 (+0.89%)

Weekly Expected Move ±3.6%

R$16 R$16 R$17 R$18 R$18

SAO · Consumer Defensive · Packaged Foods · Tech Score Neutral · Power 41 · R$23.5B mcap · 185M float · 3.48% daily turnover

Revenue

$164.0B +10.1% ▲

5Y CAGR: +19.4%

Gross Profit

$19.0B -3.5% ▼

5Y CAGR: +10.1%

Operating Income

$5.6B -5.5% ▼

5Y CAGR: -6.4%

Net Income

$358M -87.2% ▼

5Y CAGR: -35.9%

EPS (Diluted)

$0.36 -88.3% ▼

5Y CAGR: -40.2%

EBITDA

$12.8B -3.2% ▼

5Y CAGR: +9.0%

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$85.4B	$125.4B	$132.2B	$148.9B	$164.0B
YoY Growth	+26.5%	+46.8%	+5.5%	+12.6%	+10.1%
Cost of Revenue	$68.2B	$108.9B	$118.8B	$129.2B	$145.0B
Gross Profit	$17.2B	$16.5B	$13.4B	$19.7B	$19.0B
Gross Margin	20.1%	13.1%	10.1%	13.2%	11.6%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$3.2B	$7.5B	$8.5B	$9.1B	$13.4B
Operating Expenses	$4.6B	$7.2B	$12.3B	$13.7B	$13.4B
Operating Income	$12.6B	$9.2B	$1.1B	$6.0B	$5.6B
Operating Margin	14.8%	7.4%	0.9%	4.0%	3.4%
Interest Expense	$1.7B	$3.4B	$5.4B	$5.7B	$6.6B
Income Before Tax	$8.9B	$3.0B	-$4.5B	$405M	-$746M
Tax Expense	$2.3B	-$448M	-$1.1B	-$2.4B	-$1.5B
Net Income	$4.3B	$4.2B	-$1.5B	$2.8B	$358M
Net Margin	5.1%	3.3%	-1.1%	1.9%	0.2%
EPS (Diluted)	$6.37	$6.40	$-2.37	$3.09	$0.36
EBITDA	$12.2B	$11.7B	$7.6B	$13.3B	$12.8B
Shares Outstanding	680M	651M	641M	904M	1.01B

Line Item	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2
Revenue	$39.1B	$42.2B	$39.4B	$38.7B	$41.8B	$43.9B	$39.5B	$40.7B
Cost of Revenue	$33.7B	$36.5B	$34.8B	$33.9B	$36.9B	$38.4B	$34.7B	$35.9B
Gross Profit	$5.3B	$5.7B	$4.6B	$4.7B	$4.8B	$5.5B	$4.8B	$4.9B
Gross Margin	13.6%	13.5%	11.8%	12.3%	11.5%	12.6%	12.1%	12.0%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$2.3B	$2.6B	$2.3B	$2.3B	$2.4B	$2.8B	$2.3B	$3.6B
Operating Expenses	$3.3B	$4.1B	$3.4B	$3.6B	$3.6B	$3.9B	$3.4B	$3.6B
Operating Income	$2.0B	$1.5B	$1.3B	$1.1B	$1.6B	$1.6B	$1.4B	$1.3B
Operating Margin	5.1%	3.6%	3.2%	2.9%	3.9%	3.6%	3.5%	3.2%
Interest Expense	$1.3B	$1.8B	$1.7B	$1.6B	$1.6B	$1.8B	$1.7B	$1.9B
Income Before Tax	$656M	-$274M	-$66M	-$329M	$163M	-$530M	-$2M	-$382M
Tax Expense	-$56M	-$1.6B	-$492M	-$502M	-$21M	-$488M	$27M	-$423M
Net Income	$79M	$2.6B	$88M	$85M	$94M	$91M	$111M	$68M
Net Margin	0.2%	6.1%	0.2%	0.2%	0.2%	0.2%	0.3%	0.2%
EPS (Diluted)	$0.09	$2.92	$0.10	$0.10	$0.11	$0.06	$0.08	$0.05
EBITDA	$3.8B	$3.5B	$3.4B	$3.1B	$3.5B	$2.9B	$3.3B	$3.4B
Shares Outstanding	889M	882M	867M	845M	880M	1.41B	1.40B	1.40B

MBRF3.SA SAO