Azul Sa
AZUL NYSE· Air Transportation, Scheduled
Last close · Oct 26, 2026
$4.05
KIRA · Stoqly’s AI analyst, in plain words
- Azul Sa had $3.9B of revenue in fiscal 2025, up 6.8% on the year before. Over five years, revenue changed +28.3% a year on average.
- Its operating margin was 20.0%, up 2.6 pts: of every 100 in sales, about 20 is left after running the business.
- Azul Sa made $22.3M of net profit in fiscal 2025.
- Free cash flow was −$256M in fiscal 2025, −6.6% of revenue.
- Azul Sa returned $0.0M to shareholders in fiscal 2025.
- Azul Sa owes $4.0B more than it holds in cash, about 3.1 years of operating profit.
Market cap
—
P/E
—
Revenue
$3.9B
Net income
$22.3M
Free cash flow
−$256M
Operating margin
20.0%
Azul Sa in 30 seconds · fiscal 2025
Are sales growing?
+6.8%
Yes. Sales grew 6.8% last year.
Does it make a profit?
0.6%
A little. It keeps 0.6% of every sale as profit.
Does profit turn into cash?
−6.6%
No. It spent more cash than it brought in.
Is debt under control?
3.1x
Heavy. Repaying its debt would take 3.1 years of operating profit.
How healthy are the accounts?
3 / 7
Weak. It passes 3 of 7 health tests.
What Azul Sa does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · Apr 3, 2026
- Legal name
- AZUL SA
- CIK
- 0001432364
Azul Sa · AZUL
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $1.8B | $3.1B | $3.7B | $3.6B | $3.9B |
| Revenue growth | 66.0% | 66.9% | 20.4% | −2.5% | 6.8% |
| Operating margin | 0.5% | 9.0% | 9.0% | 17.4% | 20.0% |
| Net income | −$781M | −$140M | −$477M | −$1.7B | $22.3M |
| Net margin | −42.2% | −4.5% | −12.8% | −46.9% | 0.6% |
| Cash | |||||
| Cash from operations | −$57.6M | $472M | $689M | $517M | −$220M |
| Capital expenditure | $116M | $121M | $93.0M | $126M | $35.5M |
| Free cash flow | −$173M | $351M | $596M | $391M | −$256M |
| FCF margin | −9.4% | 11.4% | 16.0% | 10.8% | −6.6% |
| Share buybacks | $3.0M | $0.8M | $1.4M | $0.5M | $0.0M |
| Debt and strength | |||||
| Cash and short-term investments | $552M | $126M | $391M | $196M | $181M |
| Debt incl. finance leases | $1.5B | $1.4B | $2.0B | $2.4B | $4.2B |
| Shareholders' equity | −$3.3B | −$3.6B | −$4.4B | −$4.9B | −$5.3B |
| Net debt / EBITDA | 3.1x | 1.8x | 2.0x | 2.0x | 3.1x |
| Current ratio | 0.5x | 0.3x | 0.3x | 0.3x | 0.2x |
| Interest coverage | 0.0x | 0.3x | 0.3x | 0.6x | 0.4x |
| Returns and quality | |||||
| Piotroski F-score | 4 | 5 | 4 | 2 | 3 |
| Altman Z'' | −6.5 | −7.6 | −7.2 | −7.8 | −10.6 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Azul Sa · AZUL
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $4.05 a share, the company is worth —.
Source: SEC EDGAR XBRL filings (CIK 0001432364). Data updated October 24, 2026. Filed in BRL under IFRS and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. For information only — not investment advice. Check the original filings before relying on any figure.