Vasta Platform Limited (VSTA) 10-Year Financial Performance & Capital Metrics

VSTA • • Industrial / General

Consumer DefensiveEducation & TrainingOnline Learning PlatformsEducational Technology & Content

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 Margin 60.97% -1.0%
EBITDA Margin 39.41% +22.8%
Operating Margin 21.84% +71.5%
Net Margin 29.06% +615.5%
ROE 10.23% +658.5%
ROIC 4.7% +87.1%
Debt/Equity 0.24 -7.6%
Interest Coverage 52.47 +7988.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 11.1%
✓Share count reduced 2.7% through buybacks
✓Trading at only 0.1x 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

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y11.09%

3Y20.9%

TTM13.6%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM902.19%

EPS CAGR

10Y-

5Y-

3Y-

TTM1196.86%

ROCE

10Y Avg2.88%

5Y Avg2.88%

3Y Avg3.68%

Latest6.14%

Peer Comparison

Educational Technology & Content

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LOPEGrand Canyon Education, Inc.	5.03B	180.00	23.29	7.5%	19.38%	27.88%	5.02%	0.14
DAOYoudao, Inc.	390.07M	12.47	17.81	5.89%	4.07%
VSTAVasta Platform Limited	79.21M	4.96	0.82	12.64%	28.1%	10.01%	59.55%	0.24
MYNDMynd.ai, Inc.	20.22M	0.44	-0.02	-35.35%	-35.81%	-124.42%		2.64
CHGGChegg, Inc.	96.16M	0.88	-0.11	-13.78%	-17.14%	-52.54%	52.26%	2.61
YQ17 Education & Technology Group Inc.	22.43M	3.44	-0.14	10.67%	-96.33%	-39.99%		0.03
JZJianzhi Education Technology Group Company Limited	7.63M	0.99	-0.59	-43.52%	-24.83%	-5.25%		0.29
SKILSkillsoft Corp.	86.45M	9.87	-0.66	-4.02%	-26.02%	-33.66%	13.42%	6.28

Profit & Loss

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	985.44M	989.68M	997.63M	947.42M	1.26B	1.49B	1.67B
Revenue Growth %	-	0%	0.01%	-0.05%	0.33%	0.18%	0.13%
Cost of Goods Sold+	279.61M	447.05M	378M	396.83M	473.13M	570.91M	653.45M
COGS % of Revenue	0.28%	0.45%	0.38%	0.42%	0.37%	0.38%	0.39%
Gross Profit+	705.83M	542.63M	619.63M	550.59M	791.14M	915.37M	1.02B
Gross Margin %	0.72%	0.55%	0.62%	0.58%	0.63%	0.62%	0.61%
Gross Profit Growth %	-	-0.23%	0.14%	-0.11%	0.44%	0.16%	0.12%
Operating Expenses+	568.6M	460.18M	567.24M	589.16M	664.65M	726M	655.02M
OpEx % of Revenue	0.58%	0.46%	0.57%	0.62%	0.53%	0.49%	0.39%
Selling, General & Admin	553.33M	461.02M	571.52M	594.72M	665.67M	711.62M	647.44M
SG&A % of Revenue	0.56%	0.47%	0.57%	0.63%	0.53%	0.48%	0.39%
Research & Development	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
Operating Income+	163.98M	82.45M	52.39M	-38.57M	126.5M	189.36M	365.72M
Operating Margin %	0.17%	0.08%	0.05%	-0.04%	0.1%	0.13%	0.22%
Operating Income Growth %	-	-0.5%	-0.36%	-1.74%	4.28%	0.5%	0.93%
EBITDA+	248.66M	247.39M	226.47M	172.58M	395.21M	477.14M	659.81M
EBITDA Margin %	0.25%	0.25%	0.23%	0.18%	0.31%	0.32%	0.39%
EBITDA Growth %	-	-0.01%	-0.08%	-0.24%	1.29%	0.21%	0.38%
D&A (Non-Cash Add-back)	84.69M	164.93M	174.09M	211.16M	268.71M	287.78M	294.08M
EBIT	163.98M	84.62M	27.45M	-48.09M	154.78M	172.21M	312.72M
Net Interest Income+	0	-34.24M	-17.29M	-105.65M	-257.94M	-274.8M	6.67M
Interest Income	122.47M	431.71K	3.28M	2.1M	2.53M	17.12M	13.64M
Interest Expense	0	34.67M	20.57M	107.76M	260.46M	291.91M	6.97M
Other Income/Expense	-149.22M	-172.77M	-123.44M	-117.27M	-232.18M	-309.07M	-58.63M
Pretax Income+	14.76M	-90.31M	-71.05M	-155.84M	-105.69M	-119.7M	307.09M
Pretax Margin %	0.01%	-0.09%	-0.07%	-0.16%	-0.08%	-0.08%	0.18%
Income Tax+	18.92M	-29.61M	-25.4M	-37.09M	-51.11M	-36.73M	-179.26M
Effective Tax Rate %	-0.28%	0.67%	0.64%	0.76%	0.52%	0.7%	1.58%
Net Income+	-4.16M	-60.71M	-45.65M	-118.75M	-54.57M	-83.77M	486.49M
Net Margin %	-0%	-0.06%	-0.05%	-0.13%	-0.04%	-0.06%	0.29%
Net Income Growth %	-	-13.59%	0.25%	-1.6%	0.54%	-0.54%	6.81%
Net Income (Continuing)	-4.16M	-60.71M	-45.65M	-118.75M	-54.57M	-82.98M	486.35M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	1.43M	1.3M
EPS (Diluted)+	-0.05	-0.73	-0.55	-1.44	-0.65	-1.02	6.07
EPS Growth %	-	-13.57%	0.25%	-1.62%	0.55%	-0.57%	6.95%
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
Basic Shares Outstanding	83.01M	83.01M	83.01M	82.25M	83.65M	82.13M	80.15M
Dividend Payout Ratio	-	-	-	-	-	-	-

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	738.02M	190.71M	308.08M	1.3B	1.44B	1.46B	1.47B
Cash & Short-Term Investments	102.23M	10.76M	154.45M	476.24M	426.28M	341.81M	195.84M
Cash Only	102.23M	10.76M	59.9M	309.89M	45.77M	95.86M	84.53M
Short-Term Investments	0	0	94.55M	166.35M	380.51M	245.94M	111.31M
Accounts Receivable	329.08M	119.08M	100.28M	541.46M	688.73M	742.64M	912.71M
Days Sales Outstanding	121.89	43.92	36.69	208.6	198.84	182.38	198.98
Inventory	262.18M	55.25M	48.06M	242.36M	266.45M	300.51M	276.78M
Days Inventory Outstanding	342.25	45.11	46.41	222.92	205.55	192.13	154.6
Other Current Assets	45.09M	0	0	0	0	0	0
Total Non-Current Assets+	5.4B	1.34B	1.04B	6.03B	6.08B	5.95B	5.74B
Property, Plant & Equipment	58.31M	45.98M	36.97M	185.68M	197.69M	151.49M	160.95M
Fixed Asset Turnover	16.90x	21.52x	26.99x	5.10x	6.40x	9.81x	10.40x
Goodwill	3.29B	816.93M	636.83M	3.69B	3.71B	3.71B	3.71B
Intangible Assets	1.8B	422.38M	311.29M	1.84B	1.72B	1.59B	1.45B
Long-Term Investments	0	42.99M	33.26M	0	91.41M	74.36M	53.79M
Other Non-Current Assets	168.45M	0	0	178.82M	194.86M	207.19M	154.45M
Total Assets+	6.14B	1.53B	1.34B	7.33B	7.52B	7.4B	7.21B
Asset Turnover	0.16x	0.65x	0.74x	0.13x	0.17x	0.20x	0.23x
Asset Growth %	-	-0.75%	-0.12%	4.46%	0.03%	-0.02%	-0.03%
Total Current Liabilities+	974.67M	271.89M	211.05M	778.25M	789.21M	1.45B	1.24B
Accounts Payable	444.94M	55.6M	53.8M	187.67M	323.65M	438.02M	455.43M
Days Payables Outstanding	580.81	45.39	51.95	172.62	249.68	280.04	254.39
Short-Term Debt	338.56M	111.38M	104.35M	378.87M	249.25M	805.71M	567.09M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	44.15M	79.45M	36.39M	36.57M	76.13M	77.35M	-34.47M
Current Ratio	0.76x	0.70x	1.46x	1.67x	1.82x	1.01x	1.18x
Quick Ratio	0.49x	0.50x	1.23x	1.36x	1.48x	0.80x	0.96x
Cash Conversion Cycle	-116.67	43.63	31.15	258.91	154.71	94.46	99.2
Total Non-Current Liabilities+	1.9B	490.71M	211.14M	1.89B	2.1B	1.43B	967.67M
Long-Term Debt	1.3B	298.31M	55.92M	549.08M	749.22M	250M	497.52M
Capital Lease Obligations	18.61M	36.45M	29.81M	134.56M	117.41M	79.58M	89.24M
Deferred Tax Liabilities	554.57M	0	0	646.85M	651.25M	697.99M	157.12M
Other Non-Current Liabilities	577.91M	153.67M	124.15M	559.33M	583.82M	407.23M	223.79M
Total Liabilities	2.87B	762.6M	422.19M	2.67B	2.89B	2.88B	2.21B
Total Debt+	1.66B	446.13M	190.08M	1.09B	1.14B	1.15B	1.18B
Net Debt	1.56B	435.37M	130.18M	779.49M	1.09B	1.06B	1.09B
Debt / Equity	0.51x	0.58x	0.21x	0.23x	0.25x	0.25x	0.24x
Debt / EBITDA	6.67x	1.80x	0.84x	6.31x	2.88x	2.42x	1.78x
Net Debt / EBITDA	6.26x	1.76x	0.57x	4.52x	2.77x	2.21x	1.65x
Interest Coverage	-	2.38x	2.55x	-0.36x	0.49x	0.65x	52.47x
Total Equity+	3.27B	770.65M	921.28M	4.67B	4.63B	4.52B	4.99B
Equity Growth %	-	-0.76%	0.2%	4.06%	-0.01%	-0.02%	0.1%
Book Value per Share	39.37	9.28	11.10	56.72	55.35	54.90	62.30
Total Shareholders' Equity	3.27B	770.65M	921.28M	4.67B	4.63B	4.52B	4.99B
Common Stock	3.27B	0	928.12M	4.82B	4.82B	4.82B	4.82B
Retained Earnings	0	0	-14.34M	-193.21M	-247.79M	-331.56M	154.93M
Treasury Stock	0	0	0	-23.88M	-23.88M	-59.52M	-74.64M
Accumulated OCI	0	0	7.5M	61.49M	80.53M	89.63M	90.91M
Minority Interest	0	0	0	0	0	1.43M	1.3M

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	12.29M	7.23M	215.46M	-21.61M	174.84M	218.85M	175.44M
Operating CF Margin %	0.01%	0.01%	0.22%	-0.02%	0.14%	0.15%	0.1%
Operating CF Growth %	-	-0.41%	28.79%	-1.1%	9.09%	0.25%	-0.2%
Net Income	-4.16M	-90.31M	-71.05M	-155.84M	-105.69M	-119.7M	486.49M
Depreciation & Amortization	84.69M	164.93M	174.09M	211.16M	268.71M	287.78M	294.08M
Stock-Based Compensation	1.9M	1.37M	39.65M	22.53M	19.04M	13.38M	11.44M
Deferred Taxes	0	-3.33M	-2.09M	-1.99M	-15.1M	-9.61M	0
Other Non-Cash Items	417.57M	5.45M	23.33M	62.95M	157.87M	190.36M	-396.38M
Working Capital Changes	-487.71M	-70.88M	51.54M	-160.41M	-150M	-143.35M	-220.18M
Change in Receivables	-607.94M	-80.32M	-94.32M	-32.11M	-206.02M	-103.16M	-225.2M
Change in Inventory	131.64M	29.75M	-20.81M	8.08M	-24.09M	-33.71M	26.22M
Change in Payables	0	-9.23M	42.62M	-16.12M	121.52M	40.6M	13.16M
Cash from Investing+	-67.14M	-50.27M	-541.78M	88.47M	-394.94M	44.69M	30.91M
Capital Expenditures	-24.4M	-12.81M	-1.64M	-20.91M	-61.14M	-21.54M	-32.34M
CapEx % of Revenue	0.02%	0.01%	0%	0.02%	0.05%	0.01%	0.02%
Acquisitions	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-
Other Investing	-42.74M	-37.46M	-42.79M	-55.88M	-90.59M	-105.29M	63.25M
Cash from Financing+	-180.09M	-15.91M	594.18M	-68.12M	-44.03M	-213.44M	-217.68M
Debt Issued (Net)	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-
Other Financing	-180.09M	-21.08M	-365.93M	-20.62M	-11.38M	-92.15M	-171M
Net Change in Cash	-	-	-	-	-	-	-
Free Cash Flow+	-12.11M	-43.04M	171.03M	-98.4M	23.11M	92.02M	47.17M
FCF Margin %	-0.01%	-0.04%	0.17%	-0.1%	0.02%	0.06%	0.03%
FCF Growth %	-	-2.55%	4.97%	-1.58%	1.23%	2.98%	-0.49%
FCF per Share	-0.15	-0.52	2.06	-1.20	0.28	1.12	0.59
FCF Conversion (FCF/Net Income)	-2.95x	-0.12x	-4.72x	0.18x	-3.20x	-2.61x	0.36x
Interest Paid	0	0	0	0	0	0	199.45M
Taxes Paid	0	0	0	0	0	0	0

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-0.13%	-3.01%	-5.4%	-4.25%	-1.17%	-1.83%	10.23%
Return on Invested Capital (ROIC)	2.55%	2.05%	3.48%	-0.89%	1.7%	2.51%	4.7%
Gross Margin	71.63%	54.83%	62.11%	58.11%	62.58%	61.59%	60.97%
Net Margin	-0.42%	-6.13%	-4.58%	-12.53%	-4.32%	-5.64%	29.06%
Debt / Equity	0.51x	0.58x	0.21x	0.23x	0.25x	0.25x	0.24x
Interest Coverage	-	2.38x	2.55x	-0.36x	0.49x	0.65x	52.47x
FCF Conversion	-2.95x	-0.12x	-4.72x	0.18x	-3.20x	-2.61x	0.36x
Revenue Growth	-	0.43%	0.8%	-5.03%	33.44%	17.56%	12.64%

Revenue by Segment

	2021	2022	2023	2024
Learning Systems	1.08B	878.47M	958.67M	1.08B
Learning Systems Growth	-	-18.71%	9.13%	12.86%
Complementary Education Services	286.21M	159.21M	196.03M	236.02M
Complementary Education Services Growth	-	-44.37%	23.13%	20.40%
Textbooks	382.48M	228.09M	123.36M	144.38M
Textbooks Growth	-	-40.36%	-45.92%	17.04%
Content and EdTech Platform	1.82B	1.3B	-	-
Content and EdTech Platform Growth	-	-28.14%	-	-
Digital Services Platform	198.64M	116.59M	-	-
Digital Services Platform Growth	-	-41.30%	-	-
E Commerce Digital Services Platform	195.1M	113.57M	-	-
E Commerce Digital Services Platform Growth	-	-41.79%	-	-
Other Services	65.96M	38.73M	-	-
Other Services Growth	-	-41.29%	-	-
Other Digital Services Platform	3.54M	3.03M	-	-
Other Digital Services Platform Growth	-	-14.52%	-	-

Frequently Asked Questions

Valuation & Price

Vasta Platform Limited (VSTA) has a price-to-earnings (P/E) ratio of 0.8x. This may indicate the stock is undervalued or faces growth challenges.

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) 10-Year Financial Performance & Capital Metrics

VSTA • • Industrial / General

Consumer DefensiveEducation & TrainingOnline Learning PlatformsEducational Technology & Content

Revenue $1.67B +12.6%
EBITDA $660M +38.3%
Net Income $486M +680.7%
EPS (Diluted) 6.07 +695.1%
Gross Margin 60.97% -1.0%
EBITDA Margin 39.41% +22.8%
Operating Margin 21.84% +71.5%
Net Margin 29.06% +615.5%
ROE 10.23% +658.5%
ROIC 4.7% +87.1%
Debt/Equity 0.24 -7.6%
Interest Coverage 52.47 +7988.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 11.1%
✓Share count reduced 2.7% through buybacks
✓Trading at only 0.1x 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

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y11.09%

3Y20.9%

TTM13.6%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM902.19%

EPS CAGR

10Y-

5Y-

3Y-

TTM1196.86%

ROCE

10Y Avg2.88%

5Y Avg2.88%

3Y Avg3.68%

Latest6.14%

Peer Comparison

Educational Technology & Content

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LOPEGrand Canyon Education, Inc.	5.03B	180.00	23.29	7.5%	19.38%	27.88%	5.02%	0.14
DAOYoudao, Inc.	390.07M	12.47	17.81	5.89%	4.07%
VSTAVasta Platform Limited	79.21M	4.96	0.82	12.64%	28.1%	10.01%	59.55%	0.24
MYNDMynd.ai, Inc.	20.22M	0.44	-0.02	-35.35%	-35.81%	-124.42%		2.64
CHGGChegg, Inc.	96.16M	0.88	-0.11	-13.78%	-17.14%	-52.54%	52.26%	2.61
YQ17 Education & Technology Group Inc.	22.43M	3.44	-0.14	10.67%	-96.33%	-39.99%		0.03
JZJianzhi Education Technology Group Company Limited	7.63M	0.99	-0.59	-43.52%	-24.83%	-5.25%		0.29
SKILSkillsoft Corp.	86.45M	9.87	-0.66	-4.02%	-26.02%	-33.66%	13.42%	6.28

Profit & Loss

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	985.44M	989.68M	997.63M	947.42M	1.26B	1.49B	1.67B
Revenue Growth %	-	0%	0.01%	-0.05%	0.33%	0.18%	0.13%
Cost of Goods Sold+	279.61M	447.05M	378M	396.83M	473.13M	570.91M	653.45M
COGS % of Revenue	0.28%	0.45%	0.38%	0.42%	0.37%	0.38%	0.39%
Gross Profit+	705.83M	542.63M	619.63M	550.59M	791.14M	915.37M	1.02B
Gross Margin %	0.72%	0.55%	0.62%	0.58%	0.63%	0.62%	0.61%
Gross Profit Growth %	-	-0.23%	0.14%	-0.11%	0.44%	0.16%	0.12%
Operating Expenses+	568.6M	460.18M	567.24M	589.16M	664.65M	726M	655.02M
OpEx % of Revenue	0.58%	0.46%	0.57%	0.62%	0.53%	0.49%	0.39%
Selling, General & Admin	553.33M	461.02M	571.52M	594.72M	665.67M	711.62M	647.44M
SG&A % of Revenue	0.56%	0.47%	0.57%	0.63%	0.53%	0.48%	0.39%
Research & Development	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
Operating Income+	163.98M	82.45M	52.39M	-38.57M	126.5M	189.36M	365.72M
Operating Margin %	0.17%	0.08%	0.05%	-0.04%	0.1%	0.13%	0.22%
Operating Income Growth %	-	-0.5%	-0.36%	-1.74%	4.28%	0.5%	0.93%
EBITDA+	248.66M	247.39M	226.47M	172.58M	395.21M	477.14M	659.81M
EBITDA Margin %	0.25%	0.25%	0.23%	0.18%	0.31%	0.32%	0.39%
EBITDA Growth %	-	-0.01%	-0.08%	-0.24%	1.29%	0.21%	0.38%
D&A (Non-Cash Add-back)	84.69M	164.93M	174.09M	211.16M	268.71M	287.78M	294.08M
EBIT	163.98M	84.62M	27.45M	-48.09M	154.78M	172.21M	312.72M
Net Interest Income+	0	-34.24M	-17.29M	-105.65M	-257.94M	-274.8M	6.67M
Interest Income	122.47M	431.71K	3.28M	2.1M	2.53M	17.12M	13.64M
Interest Expense	0	34.67M	20.57M	107.76M	260.46M	291.91M	6.97M
Other Income/Expense	-149.22M	-172.77M	-123.44M	-117.27M	-232.18M	-309.07M	-58.63M
Pretax Income+	14.76M	-90.31M	-71.05M	-155.84M	-105.69M	-119.7M	307.09M
Pretax Margin %	0.01%	-0.09%	-0.07%	-0.16%	-0.08%	-0.08%	0.18%
Income Tax+	18.92M	-29.61M	-25.4M	-37.09M	-51.11M	-36.73M	-179.26M
Effective Tax Rate %	-0.28%	0.67%	0.64%	0.76%	0.52%	0.7%	1.58%
Net Income+	-4.16M	-60.71M	-45.65M	-118.75M	-54.57M	-83.77M	486.49M
Net Margin %	-0%	-0.06%	-0.05%	-0.13%	-0.04%	-0.06%	0.29%
Net Income Growth %	-	-13.59%	0.25%	-1.6%	0.54%	-0.54%	6.81%
Net Income (Continuing)	-4.16M	-60.71M	-45.65M	-118.75M	-54.57M	-82.98M	486.35M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	1.43M	1.3M
EPS (Diluted)+	-0.05	-0.73	-0.55	-1.44	-0.65	-1.02	6.07
EPS Growth %	-	-13.57%	0.25%	-1.62%	0.55%	-0.57%	6.95%
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
Basic Shares Outstanding	83.01M	83.01M	83.01M	82.25M	83.65M	82.13M	80.15M
Dividend Payout Ratio	-	-	-	-	-	-	-

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	738.02M	190.71M	308.08M	1.3B	1.44B	1.46B	1.47B
Cash & Short-Term Investments	102.23M	10.76M	154.45M	476.24M	426.28M	341.81M	195.84M
Cash Only	102.23M	10.76M	59.9M	309.89M	45.77M	95.86M	84.53M
Short-Term Investments	0	0	94.55M	166.35M	380.51M	245.94M	111.31M
Accounts Receivable	329.08M	119.08M	100.28M	541.46M	688.73M	742.64M	912.71M
Days Sales Outstanding	121.89	43.92	36.69	208.6	198.84	182.38	198.98
Inventory	262.18M	55.25M	48.06M	242.36M	266.45M	300.51M	276.78M
Days Inventory Outstanding	342.25	45.11	46.41	222.92	205.55	192.13	154.6
Other Current Assets	45.09M	0	0	0	0	0	0
Total Non-Current Assets+	5.4B	1.34B	1.04B	6.03B	6.08B	5.95B	5.74B
Property, Plant & Equipment	58.31M	45.98M	36.97M	185.68M	197.69M	151.49M	160.95M
Fixed Asset Turnover	16.90x	21.52x	26.99x	5.10x	6.40x	9.81x	10.40x
Goodwill	3.29B	816.93M	636.83M	3.69B	3.71B	3.71B	3.71B
Intangible Assets	1.8B	422.38M	311.29M	1.84B	1.72B	1.59B	1.45B
Long-Term Investments	0	42.99M	33.26M	0	91.41M	74.36M	53.79M
Other Non-Current Assets	168.45M	0	0	178.82M	194.86M	207.19M	154.45M
Total Assets+	6.14B	1.53B	1.34B	7.33B	7.52B	7.4B	7.21B
Asset Turnover	0.16x	0.65x	0.74x	0.13x	0.17x	0.20x	0.23x
Asset Growth %	-	-0.75%	-0.12%	4.46%	0.03%	-0.02%	-0.03%
Total Current Liabilities+	974.67M	271.89M	211.05M	778.25M	789.21M	1.45B	1.24B
Accounts Payable	444.94M	55.6M	53.8M	187.67M	323.65M	438.02M	455.43M
Days Payables Outstanding	580.81	45.39	51.95	172.62	249.68	280.04	254.39
Short-Term Debt	338.56M	111.38M	104.35M	378.87M	249.25M	805.71M	567.09M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	44.15M	79.45M	36.39M	36.57M	76.13M	77.35M	-34.47M
Current Ratio	0.76x	0.70x	1.46x	1.67x	1.82x	1.01x	1.18x
Quick Ratio	0.49x	0.50x	1.23x	1.36x	1.48x	0.80x	0.96x
Cash Conversion Cycle	-116.67	43.63	31.15	258.91	154.71	94.46	99.2
Total Non-Current Liabilities+	1.9B	490.71M	211.14M	1.89B	2.1B	1.43B	967.67M
Long-Term Debt	1.3B	298.31M	55.92M	549.08M	749.22M	250M	497.52M
Capital Lease Obligations	18.61M	36.45M	29.81M	134.56M	117.41M	79.58M	89.24M
Deferred Tax Liabilities	554.57M	0	0	646.85M	651.25M	697.99M	157.12M
Other Non-Current Liabilities	577.91M	153.67M	124.15M	559.33M	583.82M	407.23M	223.79M
Total Liabilities	2.87B	762.6M	422.19M	2.67B	2.89B	2.88B	2.21B
Total Debt+	1.66B	446.13M	190.08M	1.09B	1.14B	1.15B	1.18B
Net Debt	1.56B	435.37M	130.18M	779.49M	1.09B	1.06B	1.09B
Debt / Equity	0.51x	0.58x	0.21x	0.23x	0.25x	0.25x	0.24x
Debt / EBITDA	6.67x	1.80x	0.84x	6.31x	2.88x	2.42x	1.78x
Net Debt / EBITDA	6.26x	1.76x	0.57x	4.52x	2.77x	2.21x	1.65x
Interest Coverage	-	2.38x	2.55x	-0.36x	0.49x	0.65x	52.47x
Total Equity+	3.27B	770.65M	921.28M	4.67B	4.63B	4.52B	4.99B
Equity Growth %	-	-0.76%	0.2%	4.06%	-0.01%	-0.02%	0.1%
Book Value per Share	39.37	9.28	11.10	56.72	55.35	54.90	62.30
Total Shareholders' Equity	3.27B	770.65M	921.28M	4.67B	4.63B	4.52B	4.99B
Common Stock	3.27B	0	928.12M	4.82B	4.82B	4.82B	4.82B
Retained Earnings	0	0	-14.34M	-193.21M	-247.79M	-331.56M	154.93M
Treasury Stock	0	0	0	-23.88M	-23.88M	-59.52M	-74.64M
Accumulated OCI	0	0	7.5M	61.49M	80.53M	89.63M	90.91M
Minority Interest	0	0	0	0	0	1.43M	1.3M

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	12.29M	7.23M	215.46M	-21.61M	174.84M	218.85M	175.44M
Operating CF Margin %	0.01%	0.01%	0.22%	-0.02%	0.14%	0.15%	0.1%
Operating CF Growth %	-	-0.41%	28.79%	-1.1%	9.09%	0.25%	-0.2%
Net Income	-4.16M	-90.31M	-71.05M	-155.84M	-105.69M	-119.7M	486.49M
Depreciation & Amortization	84.69M	164.93M	174.09M	211.16M	268.71M	287.78M	294.08M
Stock-Based Compensation	1.9M	1.37M	39.65M	22.53M	19.04M	13.38M	11.44M
Deferred Taxes	0	-3.33M	-2.09M	-1.99M	-15.1M	-9.61M	0
Other Non-Cash Items	417.57M	5.45M	23.33M	62.95M	157.87M	190.36M	-396.38M
Working Capital Changes	-487.71M	-70.88M	51.54M	-160.41M	-150M	-143.35M	-220.18M
Change in Receivables	-607.94M	-80.32M	-94.32M	-32.11M	-206.02M	-103.16M	-225.2M
Change in Inventory	131.64M	29.75M	-20.81M	8.08M	-24.09M	-33.71M	26.22M
Change in Payables	0	-9.23M	42.62M	-16.12M	121.52M	40.6M	13.16M
Cash from Investing+	-67.14M	-50.27M	-541.78M	88.47M	-394.94M	44.69M	30.91M
Capital Expenditures	-24.4M	-12.81M	-1.64M	-20.91M	-61.14M	-21.54M	-32.34M
CapEx % of Revenue	0.02%	0.01%	0%	0.02%	0.05%	0.01%	0.02%
Acquisitions	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-
Other Investing	-42.74M	-37.46M	-42.79M	-55.88M	-90.59M	-105.29M	63.25M
Cash from Financing+	-180.09M	-15.91M	594.18M	-68.12M	-44.03M	-213.44M	-217.68M
Debt Issued (Net)	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-
Other Financing	-180.09M	-21.08M	-365.93M	-20.62M	-11.38M	-92.15M	-171M
Net Change in Cash	-	-	-	-	-	-	-
Free Cash Flow+	-12.11M	-43.04M	171.03M	-98.4M	23.11M	92.02M	47.17M
FCF Margin %	-0.01%	-0.04%	0.17%	-0.1%	0.02%	0.06%	0.03%
FCF Growth %	-	-2.55%	4.97%	-1.58%	1.23%	2.98%	-0.49%
FCF per Share	-0.15	-0.52	2.06	-1.20	0.28	1.12	0.59
FCF Conversion (FCF/Net Income)	-2.95x	-0.12x	-4.72x	0.18x	-3.20x	-2.61x	0.36x
Interest Paid	0	0	0	0	0	0	199.45M
Taxes Paid	0	0	0	0	0	0	0

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-0.13%	-3.01%	-5.4%	-4.25%	-1.17%	-1.83%	10.23%
Return on Invested Capital (ROIC)	2.55%	2.05%	3.48%	-0.89%	1.7%	2.51%	4.7%
Gross Margin	71.63%	54.83%	62.11%	58.11%	62.58%	61.59%	60.97%
Net Margin	-0.42%	-6.13%	-4.58%	-12.53%	-4.32%	-5.64%	29.06%
Debt / Equity	0.51x	0.58x	0.21x	0.23x	0.25x	0.25x	0.24x
Interest Coverage	-	2.38x	2.55x	-0.36x	0.49x	0.65x	52.47x
FCF Conversion	-2.95x	-0.12x	-4.72x	0.18x	-3.20x	-2.61x	0.36x
Revenue Growth	-	0.43%	0.8%	-5.03%	33.44%	17.56%	12.64%

Revenue by Segment

	2021	2022	2023	2024
Learning Systems	1.08B	878.47M	958.67M	1.08B
Learning Systems Growth	-	-18.71%	9.13%	12.86%
Complementary Education Services	286.21M	159.21M	196.03M	236.02M
Complementary Education Services Growth	-	-44.37%	23.13%	20.40%
Textbooks	382.48M	228.09M	123.36M	144.38M
Textbooks Growth	-	-40.36%	-45.92%	17.04%
Content and EdTech Platform	1.82B	1.3B	-	-
Content and EdTech Platform Growth	-	-28.14%	-	-
Digital Services Platform	198.64M	116.59M	-	-
Digital Services Platform Growth	-	-41.30%	-	-
E Commerce Digital Services Platform	195.1M	113.57M	-	-
E Commerce Digital Services Platform Growth	-	-41.79%	-	-
Other Services	65.96M	38.73M	-	-
Other Services Growth	-	-41.29%	-	-
Other Digital Services Platform	3.54M	3.03M	-	-
Other Digital Services Platform Growth	-	-14.52%	-	-

Frequently Asked Questions

Valuation & Price

Vasta Platform Limited (VSTA) has a price-to-earnings (P/E) ratio of 0.8x. This may indicate the stock is undervalued or faces growth challenges.

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.