EMBJEmbraer S.A.

$75.29

Is the business good?

How good a business is EMBJ?

Embraer S.A. earns 32% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.

32%

Return on invested capital · cost of capital 9.0% · 23 points above what the capital costs: growth creates value

Operating margin
8.0%

Operating margin · Aerospace & Defense median 9.6% · fiscal year to FY2025

Cash conversion
1.94×

Cash conversion · 1.90× a year ago · every dollar of reported profit arrived as cash, and more

Share count, year on year
−0.30%

Share count, year on year · flat: no meaningful dilution

Operating margin by fiscal year
YearOperating margin
FY2020−8.6%
FY20214.8%
FY2022−2.4%
FY20236.0%
FY202410%
FY20258.0%
Details
Gross marginfiscal year to FY2025
18%
Operating marginfiscal year to FY2025
8.0%
Net marginfiscal year to FY2025
4.6%
Free cash flow margin
9.0%
R&D as % of revenue
0.98%
Revenue, trailing twelve months
$7.58B
Free cash flow, trailing twelve months
$683M
Net income, trailing twelve months
$352M
Return on invested capitaloperating profit after tax ÷ debt + equity − cash
32%

Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.