Food Wholesale Distribution & Retail - Multi-format retailer operating cash-and-carry wholesale stores and retail hypermarkets/supermarkets across Brazil and Latin America
Strategic Profile
The company targets expansion with 10 new stores planned for 2025 and 2026, supported by CAPEX investments of R$1.0–1.2 billion. Same-store sales recovery is a strategic priority, with focus on exceeding inflation rates through increased wallet share and new initiatives. The company's lean valuation structure and strong asset base position it as a value-oriented player in emerging market retail.
Cyborg Score Rationale
The company trades at an attractive P/E ratio of 0.94, indicating high earnings generation relative to valuation and potential undervaluation. However, Q3 2025 results missed forecasts with EPS declining 24.45% and revenue down 1.63%, indicating operational headwinds offset by a maintained 7.6% EBITDA margin and reduced net debt of 500M BRL.
Top Insights
Market cap of $1.94 billion USD as of January 2026, representing significant undervaluation relative to asset base
Diverse customer base including restaurants, small businesses, schools, hospitals, and individual consumers
Q3 2025 EPS missed expectations by 24.45%, suggesting execution or market headwinds
Capital disciplined approach with planned R$1.0-1.2B CAPEX supporting measured growth of ~20 stores over 2025-2026
Named Competitors
Makro Cash & Carry — Wholesale cash-and-carry operator in Brazil
Grupo Carrefour — Multi-format retailer with hypermarket and supermarket presence in Brazil and Latin America
GPA (Grupo Pão de Açúcar) — Parent group entity with hypermarket and supermarket operations
Recent Developments
(February 2026) Q4 2025 earnings release issued; stock trading at 8.82-8.95 BRL range
(November 2025) Q3 2025 results showed revenue of $19.29B but EPS declined 24.45% versus forecasts
(2025) Expansion plan executing with approximately 10 stores targeted for opening by year-end
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