Valuation
26% of the score
100median 50
Azul S.A. is valued at 5.5x its operating profit, including debt: cheap enough for full points.
60x
50x
35x
25x
18x
12x
8x
5.5x
Full points at 8x or less, none from 60xfull points
AZULAzul S.A.
$7.00
$7.00
$6.1752 weeks$9.10
RyuScore
Seven criteria, each scored 0 to 100 on a published scale, weighted into one number.
RyuScore 75 out of 100, Strong
Today's price. Only valuation depends on it.
Strong. Azul S.A. scores higher than 87% of the 2,291 companies Ryufin scores.
Carried by valuation and return on capital, held back by cycle position and the balance sheet.
Industrials median 59 · all companies 54
Return on capital
18% of the score
90median 23
Over 7 years the business earned 20% a year after tax on the capital it uses.
2%
8%
15%
25%
20%
None at 2% or less, full points from 25%full points
7 years agolatest 71%
Return on new capital
16% of the score
100median 33
For every dollar of operating profit earned over 6 years, yearly profit grew by 44 cents. New capital earned 92%, and 48% of profit went back into the business.
-5%
12%
44%
None at minus 5 cents, full points from 12 centsfull points
Capital allocation
14% of the score
100median 63
How management spends the money: shares bought back or issued, and whether assets grow faster than the business they serve.
Assets against salesAssets grew 8.4% a year, sales 30%
10012%
-2%
-22%
0 pointsfull points
Cycle position
12% of the score
0median 63
Today's operating margin of 20% is 2.23x its normal 9%: near a peak, where margins tend to fall back. Normal is half the 10 year median, half the last four years, so a margin that has held is not taken for a peak.
2x
1.5x
1x
0.7x
2.2x
A trough earns points, a peak costs themfull points
10 years agonow 20%
Balance sheet
8% of the score
19median 50
What the debt weighs against the profit that has to carry it.
Net debt to EBITDA3x a year of EBITDA
374.5x
0.5x
3x
0 pointsfull points
Interest coverOperating profit covers interest 0x
01.5x
12x
0.4x
0 pointsfull points
Earnings quality
6% of the score
19median 90
Whether the reported profit arrives as cash, and whether the accounts show the usual signs of stretching.
AccrualsProfit ran ahead of cash by 5.4% of assets
198%
0%
-8%
5.4%
0 pointsfull points
How the RyuScore works
Each criterion earns 0 to 100 points on the scale drawn under it, and the RyuScore is their average weighted 26, 18, 16, 14, 12, 8 and 6. Scales bend in the company's favour between their ends, so an ordinary figure is never already near zero. Where a criterion cannot be measured from the filings it is taken out and the remaining weights scale up; a company needs 60% of the weight covered, and always a price, to get a score.
Built from the company's annual and quarterly filings with the SEC and today's share price. Banks, insurers and property trusts are not scored: their debt is their raw material, so these yardsticks mean something else there. Figures as of 2025-12-31, latest annual report FY2025.