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CSAN3 · B3 · Brazil · Agricultura (Açúcar, Álcool e Cana)
In shortCosan S.A. is loss-making, generates cash and carries heavy debt, with revenue shrinking (−8.0% last year).
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | -0.5% | 15/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -24.1% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -120.0% | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | -0.2% | 0/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 2.58× | 100/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 13.32× | 0/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | 11.76× | 0/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | -0.01× | 0/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 1.00 | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 11.3% | 65/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 5 of 5 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 3 of 5 | 60/100 |
|---|---|---|
| Years of revenue decline (last 5) | 2 of 5 | 33/100 |
| Revenue growth volatility | 40.5% | 0/100 |
| Operating margin volatility | 15.4% | 0/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 0.6% | 20/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
1 older year available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
BRL millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 24,907 | 39,737 | 39,468 | 43,951 | 40,419 |
| Cost of revenue | 18,568 | 30,753 | 28,550 | 30,236 | 27,243 |
| Gross profit | 6,339 | 8,984 | 10,919 | 13,715 | 13,176 |
| Selling, general & admin | 2,770 | 3,253 | 3,879 | 4,421 | 4,378 |
| Operating income | 8,676 | 7,860 | 13,011 | 3,505 | (200) |
| Interest expense | 3,636 | 4,707 | 12,703 | 13,378 | 13,772 |
| Pre-tax income | 5,900 | 2,702 | 5,114 | (5,245) | (7,991) |
| Income tax | 451 | 118 | 274 | 3,191 | 2,203 |
| Net income | 6,123 | 1,176 | 1,094 | (9,424) | (9,722) |
| Diluted EPS | BRL3.34 | BRL0.63 | BRL0.58 | −BRL5.16 | −BRL3.89 |
1 older year available with the 10-year history. Essential plan, from €8.25/month →
1.00 Distress zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
4/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: CVM (dados.cvm.gov.br). Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Dec 31, 2025 · Data updated Mar 9, 2026