Hidrovias do Brasil S.A. (BVMF:HBSA3)

Hidrovias do Brasil Financials Overview

Financials in millions BRL. Fiscal year is January - December.

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	2,205	2,241	1,432	1,924	1,768	1,115
Revenue Growth	43.86%	56.45%	-25.56%	8.85%	58.50%	-23.71%
Gross Profit Gross Profit Growth	836.92	908.06	269.53	681.87	618.17	234.64
Operating Income Operating Income Growth	512.56	546.29	-24.74	386	303.15	86.81
Net Income Net Income Growth	-173.5	-140.92	-569.42	17.6	-8.16	-339.13
Earnings Per Share EPS Growth	-0.13	-0.12	-0.75	0.02	-0.01	-0.45
EPS Growth	-	-	-	-	-	-

Revenue by Segment

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Fiscal Year	FY 2025	FY 2024	FY 2023
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023
North Corridor North Corridor Growth	1,113	847.17	751.31
South Corridor South Corridor Growth	1,018	487.86	981.99
Santos Santos Growth	152.89	136.56	121.97
Eliminations Eliminations Growth	-43.01	-39.16	-140.53
Total Total Growth	2,241	1,432	1,924

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	1,310	1,528	1,071	813.92	734.56	659.02
Total Debt Total Debt Growth	3,717	3,728	5,131	4,296	4,550	4,871
Net Cash (Debt) Net Cash Growth	-2,408	-2,200	-4,059	-3,482	-3,816	-4,212
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share Net Cash Per Share Growth	-1.84	-1.90	-5.34	-4.49	-5.00	-5.54

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	921.01	1,056	121.88	441.62	514.58	47.73
Capital Expenditures CapEx Growth	-258.7	-316.68	-303.39	-273.97	-280.96	-512.58
Free Cash Flow Free Cash Flow Growth	662.31	738.97	-181.5	167.64	233.62	-464.85
Free Cash Flow Growth	-	-	-	-28.24%	-	-

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	37.96%	40.52%	18.82%	35.43%	34.97%	21.04%
Operating Margin	23.25%	24.38%	-1.73%	20.06%	17.15%	7.78%
Pretax Margin	5.59%	8.58%	-41.28%	3.62%	4.74%	-26.77%
Profit Margin	-7.87%	-6.29%	-39.75%	0.92%	-0.46%	-30.40%
FCF Margin	30.04%	32.97%	-12.67%	8.71%	13.21%	-41.68%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug 11, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	283.19	-	-	170.23	-	-
Forward PE	15.46	17.49	22.00	13.08	7.89	13.73
P/FCF Ratio	6.24	6.76	-	17.87	7.36	-
PS Ratio	1.88	2.23	1.46	1.56	0.97	2.35

Data Source: S&P Global Market Intelligence Last updated: Mar 31, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 10, 2026

Data Sources Report a data error