Vasta Platform Limited(VSTA)Earnings, Financials & Key Ratios

VSTA•NASDAQ

$4.90

$78M mkt cap·4.1× P/E·Price updated May 6, 2026

SectorConsumer Defensive IndustryEducation & Training Sub-IndustryEducation Content and Curriculum Providers

AboutVasta Platform Limited, an education company, provides educational printed and digital solutions to private schools operating in the K-12 education sector in Brazil. The company operates in two segments, Content & EdTech Platform and Digital Platform. The Content & EdTech Platform segment offers core and complementary educational content solutions through digital and printed content, including textbooks, learning systems, and other complimentary educational services. The Digital Platform segment provides physical and digital e-commerce platforms, and other digital services. As of December 31, 2021, it had 4,508 partner schools with 1,335 thousand students. The company also sells textbooks, as well as operates an e-commerce channel for the sale of educational content, such as textbooks, school materials, stationery, and others; and offers university admission preparatory exam courses. It serves various stakeholders, including students, parents, educators, administrators, and private school owners. The company was founded in 1966 and is headquartered in São Paulo, Brazil.Show more

Revenue$1.67B+12.6%
EBITDA$660M+38.3%
Net Income$486M+680.7%
EPS (Diluted)6.07+695.1%
Gross Margin60.97%-1.0%
EBITDA Margin39.41%+22.8%
Operating Margin21.84%+71.5%
Net Margin29.06%+615.5%
ROE10.23%+658.5%
ROIC4.7%+87.1%
Debt/Equity0.24-7.6%
Interest Coverage44.87+7505.4%

Technical→

VSTA Key Insights

Vasta Platform Limited (VSTA) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Strong 5Y sales CAGR of 11.1%
✓Share count reduced 2.7% through buybacks
✓Trading at only 0.4x book value

✗Weaknesses

✗Weak 3Y average ROE of 2.4%
✗Low quality earnings: Net income not backed by cash flow
✗Thin 5Y average net margin of 0.4%
✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

VSTA Price & Volume

Vasta Platform Limited (VSTA) stock price & volume — 10-year historical chart

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VSTA Growth Metrics

Vasta Platform Limited (VSTA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-

5 Years11.09%

3 Years20.9%

TTM13.6%

Profit CAGR

10 Years-

5 Years-

3 Years-

TTM902.19%

EPS CAGR

10 Years-

5 Years-

3 Years-

TTM1196.86%

Return on Capital

10 Years2.88%

5 Years2.88%

3 Years3.68%

Last Year6.14%

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
PRDOPerdoceo Education CorporationDirect Competitor	2.14B	34.11	14.10	24.2%	18.9%	16.3%	0.11
STRAStrategic Education, Inc.Direct Competitor	1.79B	78.58	14.50	3.96%	10.21%	7.85%	0.07
LRNStride, Inc.Direct Competitor	3.96B	93.00	15.63	17.9%	12.15%	19.89%	0.37
LAURLaureate Education, Inc.Direct Competitor	4.64B	32.52	17.21	8.64%	16.08%	25.36%	0.71
AFYAAfya LimitedDirect Competitor	666.85M	14.22	10.13	14.9%	20.08%	16.05%	0.74
COURCoursera, Inc.Product Competitor	1.02B	6.03	-19.45	9.04%	-8.23%	-10.06%	0.01
UDMYUdemy, Inc.Product Competitor	700.49M	4.80	186.77	0.42%	0.48%	1.74%	0.05
LOPEGrand Canyon Education, Inc.Product Competitor	4.47B	164.51	21.34	7.07%	26.92%	29.53%	0.27

Compare VSTA vs Peers

Vasta Platform Limited (VSTA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs PRDO

Most directly comparable listed peer for VSTA.

Scale Benchmark

vs GOOG

Larger-name benchmark to compare VSTA against a more recognizable public peer.

Peer Set

Compare Top 5

vs PRDO, STRA, LRN, LAUR

VSTA Income Statement

Vasta Platform Limited (VSTA) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Sales/Revenue	985.44M	989.68M	997.63M	947.42M	1.26B	1.49B	1.67B	1.74B
Revenue Growth %	-	0.43%	0.8%	-5.03%	33.44%	17.56%	12.64%	13.6%
Cost of Goods Sold	279.61M	447.05M	378M	396.83M	473.13M	570.91M	653.45M	679.03M
COGS % of Revenue	28.37%	45.17%	37.89%	41.89%	37.42%	38.41%	39.03%	-
Gross Profit	705.83M▲ 0%	542.63M▼ 23.1%	619.63M▲ 14.2%	550.59M▼ 11.1%	791.14M▲ 43.7%	915.37M▲ 15.7%	1.02B▲ 11.5%	1.06B▲ 0%
Gross Margin %	71.63%	54.83%	62.11%	58.11%	62.58%	61.59%	60.97%	60.92%
Gross Profit Growth %	-	-23.12%	14.19%	-11.14%	43.69%	15.7%	11.51%	-
Operating Expenses	568.6M	460.18M	567.24M	589.16M	664.65M	726M	655.02M	705.45M
OpEx % of Revenue	57.7%	46.5%	56.86%	62.19%	52.57%	48.85%	39.12%	-
Selling, General & Admin	553.33M	461.02M	571.52M	594.72M	665.67M	711.62M	647.44M	697.83M
SG&A % of Revenue	56.15%	46.58%	57.29%	62.77%	52.65%	47.88%	38.67%	-
Research & Development	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-
Other Operating Expenses	0	-839K	-4.28M	-5.55M	-1.02M	14.38M	7.58M	-405K
Operating Income	163.98M▲ 0%	82.45M▼ 49.7%	52.39M▼ 36.5%	-38.57M▼ 173.6%	126.5M▲ 427.9%	189.36M▲ 49.7%	365.72M▲ 93.1%	352.94M▲ 0%
Operating Margin %	16.64%	8.33%	5.25%	-4.07%	10.01%	12.74%	21.84%	20.31%
Operating Income Growth %	-	-49.72%	-36.47%	-173.63%	427.93%	49.7%	93.13%	-
EBITDA	248.66M	247.39M	226.47M	172.58M	395.21M	477.14M	659.81M	643.99M
EBITDA Margin %	25.23%	25%	22.7%	18.22%	31.26%	32.1%	39.41%	37.07%
EBITDA Growth %	-	-0.51%	-8.45%	-23.8%	129%	20.73%	38.28%	22.17%
D&A (Non-Cash Add-back)	84.69M	164.93M	174.09M	211.16M	268.71M	287.78M	294.08M	291.05M
EBIT	163.98M	84.62M	27.45M	-48.09M	154.78M	172.21M	312.72M	553.84M
Net Interest Income	0	-34.24M	-17.29M	-105.65M	-257.94M	-274.8M	6.67M	23.59M
Interest Income	122.47M	431.71K	3.28M	2.1M	2.53M	17.12M	13.64M	21.68M
Interest Expense	0	34.67M	20.57M	107.76M	260.46M	291.91M	6.97M	-1.91M
Other Income/Expense	-149.22M	-172.77M	-123.44M	-117.27M	-232.18M	-309.07M	-58.63M	-40.52M
Pretax Income	14.76M▲ 0%	-90.31M▼ 711.9%	-71.05M▲ 21.3%	-155.84M▼ 119.3%	-105.69M▲ 32.2%	-119.7M▼ 13.3%	307.09M▲ 356.5%	312.42M▲ 0%
Pretax Margin %	1.5%	-9.13%	-7.12%	-16.45%	-8.36%	-8.05%	18.34%	17.98%
Income Tax	18.92M	-29.61M	-25.4M	-37.09M	-51.11M	-36.73M	-179.26M	-176.11M
Effective Tax Rate %	128.18%	32.78%	35.75%	23.8%	48.36%	30.68%	-58.37%	-56.37%
Net Income	-4.16M▲ 0%	-60.71M▼ 1359.3%	-45.65M▲ 24.8%	-118.75M▼ 160.1%	-54.57M▲ 54.0%	-83.77M▼ 53.5%	486.49M▲ 680.7%	488.28M▲ 0%
Net Margin %	-0.42%	-6.13%	-4.58%	-12.53%	-4.32%	-5.64%	29.06%	28.1%
Net Income Growth %	-	-1359.33%	24.81%	-160.15%	54.05%	-53.5%	680.73%	902.19%
Net Income (Continuing)	-4.16M	-60.71M	-45.65M	-118.75M	-54.57M	-82.98M	486.35M	488.53M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	1.43M	1.3M	1.31M
EPS (Diluted)	-0.05▲ 0%	-0.73▼ 1357.1%	-0.55▲ 24.7%	-1.44▼ 161.8%	-0.65▲ 54.9%	-1.02▼ 56.9%	6.07▲ 695.1%	6.08▲ 0%
EPS Growth %	-	-1357.09%	24.66%	-161.82%	54.86%	-56.92%	695.1%	1196.86%
EPS (Basic)	-0.05	-0.73	-0.55	-1.44	-0.65	-1.02	6.07	-
Diluted Shares Outstanding	83.01M	83.01M	83.01M	82.25M	83.65M	82.35M	80.15M	80.31M
Basic Shares Outstanding	83.01M	83.01M	83.01M	82.25M	83.65M	82.13M	80.15M	80.31M
Dividend Payout Ratio	-	-	-	-	-	-	-	-

VSTA Balance Sheet

Vasta Platform Limited (VSTA) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Total Current Assets	738.02M	190.71M	308.08M	1.3B	1.44B	1.46B	1.47B	1.34B
Cash & Short-Term Investments	102.23M	10.76M	154.45M	476.24M	426.28M	341.81M	195.84M	390.87M
Cash Only	102.23M	10.76M	59.9M	309.89M	45.77M	95.86M	84.53M	2.42M
Short-Term Investments	0	0	94.55M	166.35M	380.51M	245.94M	111.31M	388.44M
Accounts Receivable	329.08M	119.08M	100.28M	541.46M	688.73M	742.64M	912.71M	575.25M
Days Sales Outstanding	121.89	43.92	36.69	208.6	198.84	182.38	198.98	167.06
Inventory	262.18M	55.25M	48.06M	242.36M	266.45M	300.51M	276.78M	288.04M
Days Inventory Outstanding	342.25	45.11	46.41	222.92	205.55	192.13	154.6	144.78
Other Current Assets	45.09M	0	0	0	0	0	0	0
Total Non-Current Assets	5.4B	1.34B	1.04B	6.03B	6.08B	5.95B	5.74B	5.61B
Property, Plant & Equipment	58.31M	45.98M	36.97M	185.68M	197.69M	151.49M	160.95M	142.25M
Fixed Asset Turnover	16.90x	21.52x	26.99x	5.10x	6.40x	9.81x	10.40x	11.48x
Goodwill	3.29B	816.93M	636.83M	3.69B	3.71B	3.71B	3.71B	3.72B
Intangible Assets	1.8B	422.38M	311.29M	1.84B	1.72B	1.59B	1.45B	1.34B
Long-Term Investments	0	42.99M	33.26M	0	91.41M	74.36M	53.79M	200.18M
Other Non-Current Assets	168.45M	0	0	178.82M	194.86M	207.19M	154.45M	595.9M
Total Assets	6.14B▲ 0%	1.53B▼ 75.0%	1.34B▼ 12.4%	7.33B▲ 445.9%	7.52B▲ 2.6%	7.4B▼ 1.6%	7.21B▼ 2.7%	6.95B▲ 0%
Asset Turnover	0.16x	0.65x	0.74x	0.13x	0.17x	0.20x	0.23x	0.24x
Asset Growth %	-	-75.03%	-12.38%	445.85%	2.55%	-1.57%	-2.67%	-11.56%
Total Current Liabilities	974.67M	271.89M	211.05M	778.25M	789.21M	1.45B	1.24B	890.96M
Accounts Payable	444.94M	55.6M	53.8M	187.67M	323.65M	438.02M	455.43M	397.44M
Days Payables Outstanding	580.81	45.39	51.95	172.62	249.68	280.04	254.39	226.72
Short-Term Debt	338.56M	111.38M	104.35M	378.87M	249.25M	805.71M	567.09M	347.3M
Deferred Revenue (Current)	76M	12.26M	9.08M	46.04M	57.85M	32.81M	40.56M	143.06M
Other Current Liabilities	44.15M	79.45M	36.39M	36.57M	76.13M	77.35M	-34.47M	699K
Current Ratio	0.76x	0.70x	1.46x	1.67x	1.82x	1.01x	1.18x	1.18x
Quick Ratio	0.49x	0.50x	1.23x	1.36x	1.48x	0.80x	0.96x	0.96x
Cash Conversion Cycle	-116.67	43.63	31.15	258.91	154.71	94.46	99.2	85.11
Total Non-Current Liabilities	1.9B	490.71M	211.14M	1.89B	2.1B	1.43B	967.67M	1.18B
Long-Term Debt	1.3B	298.31M	55.92M	549.08M	749.22M	250M	497.52M	747.64M
Capital Lease Obligations	18.61M	36.45M	29.81M	134.56M	117.41M	79.58M	89.24M	341.29M
Deferred Tax Liabilities	554.57M	0	0	646.85M	651.25M	697.99M	157.12M	587.26M
Other Non-Current Liabilities	577.91M	153.67M	124.15M	559.33M	583.82M	407.23M	223.79M	920.55M
Total Liabilities	2.87B	762.6M	422.19M	2.67B	2.89B	2.88B	2.21B	2.07B
Total Debt	1.66B	446.13M	190.08M	1.09B	1.14B	1.15B	1.18B	1.2B
Net Debt	1.56B	435.37M	130.18M	779.49M	1.09B	1.06B	1.09B	1.2B
Debt / Equity	0.51x	0.58x	0.21x	0.23x	0.25x	0.25x	0.24x	0.24x
Debt / EBITDA	6.67x	1.80x	0.84x	6.31x	2.88x	2.42x	1.78x	1.86x
Net Debt / EBITDA	6.26x	1.76x	0.57x	4.52x	2.77x	2.21x	1.65x	1.65x
Interest Coverage	-	2.44x	1.33x	-0.45x	0.59x	0.59x	44.87x	-290.27x
Total Equity	3.27B▲ 0%	770.65M▼ 76.4%	921.28M▲ 19.5%	4.67B▲ 406.4%	4.63B▼ 0.8%	4.52B▼ 2.4%	4.99B▲ 10.5%	4.88B▲ 0%
Equity Growth %	-	-76.42%	19.55%	406.38%	-0.76%	-2.35%	10.45%	42.83%
Book Value per Share	39.37	9.28	11.10	56.72	55.35	54.90	62.30	60.76
Total Shareholders' Equity	3.27B	770.65M	921.28M	4.67B	4.63B	4.52B	4.99B	4.88B
Common Stock	3.27B	0	928.12M	4.82B	4.82B	4.82B	4.82B	4.82B
Retained Earnings	0	0	-14.34M	-193.21M	-247.79M	-331.56M	154.93M	35.73M
Treasury Stock	0	0	0	-23.88M	-23.88M	-59.52M	-74.64M	-70.22M
Accumulated OCI	0	0	7.5M	61.49M	80.53M	89.63M	90.91M	91.8M
Minority Interest	0	0	0	0	0	1.43M	1.3M	1.31M

VSTA Cash Flow Statement

Vasta Platform Limited (VSTA) cash flow — operating, investing & free cash flow history

Line item	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Cash from Operations	12.29M	7.23M	215.46M	-21.61M	174.84M	218.85M	175.44M	175.44M
Operating CF Margin %	1.25%	0.73%	21.6%	-2.28%	13.83%	14.72%	10.48%	-
Operating CF Growth %	-	-41.15%	2879.27%	-110.03%	909.14%	25.17%	-19.84%	201.14%
Net Income	-4.16M	-90.31M	-71.05M	-155.84M	-105.69M	-119.7M	486.49M	488.28M
Depreciation & Amortization	84.69M	164.93M	174.09M	211.16M	268.71M	287.78M	294.08M	291.05M
Stock-Based Compensation	1.9M	1.37M	39.65M	22.53M	19.04M	13.38M	11.44M	6.95M
Deferred Taxes	0	-3.33M	-2.09M	-1.99M	-15.1M	-9.61M	0	-117.89M
Other Non-Cash Items	417.57M	5.45M	23.33M	62.95M	157.87M	190.36M	-396.38M	-92.64M
Working Capital Changes	-487.71M	-70.88M	51.54M	-160.41M	-150M	-143.35M	-220.18M	-107.74M
Change in Receivables	-607.94M	-80.32M	-94.32M	-32.11M	-206.02M	-103.16M	-225.2M	-111.24M
Change in Inventory	131.64M	29.75M	-20.81M	8.08M	-24.09M	-33.71M	26.22M	46.78M
Change in Payables	0	-9.23M	42.62M	-16.12M	121.52M	40.6M	13.16M	11.52M
Cash from Investing	-67.14M	-50.27M	-541.78M	88.47M	-394.94M	44.69M	30.91M	-213.78M
Capital Expenditures	-24.4M	-12.81M	-1.64M	-20.91M	-61.14M	-21.54M	-32.34M	-23.38M
CapEx % of Revenue	2.48%	1.29%	0.16%	2.21%	4.84%	1.45%	1.93%	-
Acquisitions	0	0	-23.15M	-186.22M	-80.56M	-3.21M	0	0
Investments	-	-	-	-	-	-	-	-
Other Investing	-42.74M	-37.46M	-42.79M	-55.88M	-90.59M	-105.29M	63.25M	62.56M
Cash from Financing	-180.09M	-15.91M	594.18M	-68.12M	-44.03M	-213.44M	-217.68M	-172.12M
Debt Issued (Net)	0	5.17M	-876.2M	-23.62M	-282.65M	-81.36M	-24.15M	-272.93M
Equity Issued (Net)	0	0	1.84B	-23.88M	250M	-39.93M	-22.53M	-246.83M
Dividends Paid	0	0	0	0	0	0	0	0
Share Repurchases	-133.39M	0	0	-23.88M	0	-39.93M	-22.53M	0
Other Financing	-180.09M	-21.08M	-365.93M	-20.62M	-11.38M	-92.15M	-171M	347.63M
Net Change in Cash	-234.94M▲ 0%	-58.94M▲ 74.9%	267.87M▲ 554.4%	-1.26M▼ 100.5%	-264.13M▼ 20812.7%	50.1M▲ 119.0%	-11.33M▼ 122.6%	-93.74M▲ 0%
Free Cash Flow	-12.11M▲ 0%	-43.04M▼ 255.4%	171.03M▲ 497.4%	-98.4M▼ 157.5%	23.11M▲ 123.5%	92.02M▲ 298.2%	47.17M▼ 48.7%	198.93M▲ 0%
FCF Margin %	-1.23%	-4.35%	17.14%	-10.39%	1.83%	6.19%	2.82%	11.45%
FCF Growth %	-	-255.44%	497.39%	-157.53%	123.49%	298.21%	-48.74%	117.65%
FCF per Share	-0.15	-0.52	2.06	-1.20	0.28	1.12	0.59	0.59
FCF Conversion (FCF/Net Income)	-2.95x	-0.12x	-4.72x	0.18x	-3.20x	-2.61x	0.36x	0.41x
Interest Paid	0	0	0	0	0	0	199.45M	92.53M
Taxes Paid	0	0	0	0	0	0	0	0

VSTA Key Ratios

Vasta Platform Limited (VSTA) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2019	2020	2021	2022	2023	2024	TTM
Return on Equity (ROE)	-3.01%	-5.4%	-4.25%	-1.17%	-1.83%	10.23%	9.86%
Return on Invested Capital (ROIC)	2.05%	3.48%	-0.89%	1.7%	2.51%	4.7%	4.7%
Gross Margin	54.83%	62.11%	58.11%	62.58%	61.59%	60.97%	60.92%
Net Margin	-6.13%	-4.58%	-12.53%	-4.32%	-5.64%	29.06%	28.1%
Debt / Equity	0.58x	0.21x	0.23x	0.25x	0.25x	0.24x	0.24x
Interest Coverage	2.44x	1.33x	-0.45x	0.59x	0.59x	44.87x	-290.27x
FCF Conversion	-0.12x	-4.72x	0.18x	-3.20x	-2.61x	0.36x	0.41x
Revenue Growth	0.43%	0.8%	-5.03%	33.44%	17.56%	12.64%	13.6%

VSTA Frequently Asked Questions

Vasta Platform Limited (VSTA) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Vasta Platform Limited (VSTA) reported $1.74B in revenue for fiscal year 2024. This represents a 76% increase from $985.4M in 2018.

Vasta Platform Limited (VSTA) grew revenue by 12.6% over the past year. This is steady growth.

Yes, Vasta Platform Limited (VSTA) is profitable, generating $488.3M in net income for fiscal year 2024 (29.1% net margin).

Dividend & Returns

Vasta Platform Limited (VSTA) has a return on equity (ROE) of 10.2%. This is reasonable for most industries.

Vasta Platform Limited (VSTA) generated $198.9M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Vasta Platform Limited (VSTA) financial analysis — history, returns, DCA and operating performance tools

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