Stock BRSR6 BANCO DO ESTADO DO RIO GRANDE DO SUL S.A.
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Financials Banco do Estado do Rio Grande do Sul S.A.

Equities

BRSR6

BRBRSRACNPB4

Banks

Market Closed - Sao Paulo
Other stock markets
 04:07:58 2024-04-29 pm EDT 		5-day change 1st Jan Change
12.67 BRL +1.44% Intraday chart for Banco do Estado do Rio Grande do Sul S.A. +0.80% -5.09%
Feb. 09 Transcript : Banco do Estado do Rio Grande do Sul S.A., Q4 2023 Earnings Call, Feb 09, 2024
Feb. 09 Banco do Estado do Rio Grande do Sul S.A. Reports Earnings Results for the Full Year Ended December 31, 2023 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 9,136 6,208 4,410 4,185 5,555 5,171 - -
Enterprise Value (EV) 1 9,136 6,208 4,410 4,185 5,555 5,171 5,171 5,171
P/E ratio 6.58 x 8.19 x 4.16 x 5.54 x 6.27 x 4.51 x 3.78 x 3.59 x
Yield 11.3% 3.66% 9.68% - - 9.4% 11.7% 12.9%
Capitalization / Revenue 1.21 x 0.86 x 0.65 x 0.62 x 0.72 x 0.58 x 0.54 x 0.5 x
EV / Revenue 1.21 x 0.86 x 0.65 x 0.62 x 0.72 x 0.58 x 0.54 x 0.5 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 1.14 x 0.71 x 0.44 x - - 0.5 x 0.47 x 0.43 x
Nbr of stocks (in thousands) 408,977 408,974 408,974 408,974 407,772 408,974 - -
Reference price 2 21.65 14.57 9.650 9.700 13.35 12.67 12.67 12.67
Announcement Date 2/11/20 2/10/21 2/15/22 2/15/23 2/9/24 - - -
1BRL in Million2BRL
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 7,568 7,218 6,818 6,752 7,722 8,853 9,586 10,408
EBITDA - - - - - - - -
EBIT 1 2,793 2,774 2,220 - - 1,661 2,003 -
Operating Margin 36.91% 38.43% 32.56% - - 18.76% 20.89% -
Earnings before Tax (EBT) 1 1,599 1,095 1,432 767.8 1,211 1,603 1,969 2,375
Net income 1 1,344 727.5 948.5 714.9 870.1 1,040 1,270 1,493
Net margin 17.77% 10.08% 13.91% 10.59% 11.27% 11.74% 13.25% 14.34%
EPS 2 3.290 1.780 2.320 1.750 2.130 2.811 3.348 3.531
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 2.443 0.5327 0.9345 - - 1.191 1.486 1.634
Announcement Date 2/11/20 2/10/21 2/15/22 2/15/23 2/9/24 - - -
1BRL in Million2BRL
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 1,712 1,689 1,614 1,634 1,674 1,831 1,772 1,925 1,944 2,108 2,179 2,221 2,300
EBITDA - - - - - - - - - - - - -
EBIT 1 503 522.2 440 - - - 543.5 680.3 586.5 302.4 398.3 442.4 517.5
Operating Margin 29.39% 30.92% 27.26% - - - 30.67% 35.33% 30.17% 14.35% 18.28% 19.92% 22.5%
Earnings before Tax (EBT) 1 218.5 366.5 193.5 130.7 172.5 271 258.5 287.3 150.8 300 421 471 547
Net income 1 156.6 247.8 164.1 227.8 71.94 251.1 213 226.3 127.4 210 282 294 314
Net margin 9.15% 14.67% 10.17% 13.95% 4.3% 13.71% 12.02% 11.75% 6.55% 9.96% 12.94% 13.24% 13.65%
EPS 2 0.3800 0.6100 0.4000 0.5600 0.1800 0.6100 0.5200 0.5500 0.3100 0.5136 0.6890 0.7191 0.7690
Dividend per Share 2 0.1900 0.2100 0.3765 0.3300 - - - - 0.1700 0.1300 0.1700 0.1800 0.6200
Announcement Date 11/11/21 2/15/22 5/12/22 8/10/22 11/21/22 2/15/23 5/11/23 8/15/23 11/13/23 - - - -
1BRL in Million2BRL
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 16.9% 10.2% 11.4% - - 11.2% 12.4% 12.9%
ROA (Net income/ Total Assets) 1.6% 1% 1% - - 0.86% 0.96% 0.96%
Assets 1 84,025 72,748 94,854 - - 121,307 132,308 155,806
Book Value Per Share 2 19.10 20.40 22.10 - - 25.30 27.00 29.20
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 2/11/20 2/10/21 2/15/22 2/15/23 2/9/24 - - -
1BRL in Million2BRL
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Banco do Estado do Rio Grande do Sul S.A.

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
8
Last Close Price
12.67 BRL
Average target price
14.69 BRL
Spread / Average Target
+15.92%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Commercial Banks
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  4. Financials Banco do Estado do Rio Grande do Sul S.A.