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AFYA logoAfya Limited(AFYA)Earnings, Financials & Key Ratios

AFYA•NASDAQ
$14.22
$667M mkt cap·10.1× P/E·Price updated May 6, 2026
SectorConsumer DefensiveIndustryEducation & TrainingSub-IndustryDegree-Granting Colleges and Universities
AboutAfya Limited, through its subsidiaries, operates as a medical education group in Brazil. It offers educational products and services, including medical schools, medical residency preparatory courses, graduate courses, and other programs to lifelong medical learners enrolled across its distribution network, as well as to third-party medical schools. The company also provides digital health services, such as subscription-based mobile app and website portal that focuses on assisting health professionals and students with clinical decision-making through tools, such as medical calculators, charts, and updated content, as well as prescriptions, clinical scores, medical procedures and laboratory exams, and others. It offers health sciences courses, which comprise medicine, dentistry, nursing, radiology, psychology, pharmacy, physical education, physiotherapy, nutrition, and biomedicine; and degree programs and courses in other subjects and disciplines, including undergraduate and post graduate courses in business administration, accounting, law, civil engineering, industrial engineering, and pedagogy. In addition, the company provides medical postgraduate specialization programs; printed and digital content; and an online medical education platform and practical medical training services. As of December 31, 2021, it operated a network of 46 undergraduate and graduate medical school campuses consisted of 30 undergrad operating units and five approved units; and a network of 2,731 medical school seats that consisted of 2,481 operating seats and 278 approved seats. The company was founded in 1999 and is headquartered in Nova Lima, Brazil.Show more
  • Revenue$3.3B+14.9%
  • EBITDA$1.22B+15.1%
  • Net Income$632M+63.5%
  • EPS (Diluted)6.93+62.3%
  • Gross Margin63.21%+2.9%
  • EBITDA Margin36.81%+0.2%
  • Operating Margin30.63%+14.8%
  • Net Margin19.11%+42.3%
  • ROE15.88%+41.7%
  • ROIC12.3%+13.8%
  • Debt/Equity0.74+0.2%
  • Interest Coverage2.76+39.1%
Technical→

AFYA Key Insights

Afya Limited (AFYA) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 32.6%
  • ✓FCF machine: 31.5% free cash flow margin
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 34.5%
  • ✓Healthy 5Y average net margin of 17.2%
  • ✓Trading at only 1.5x book value

✗Weaknesses

No significant weaknesses identified

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

AFYA Price & Volume

Afya Limited (AFYA) stock price & volume — 10-year historical chart

Loading chart...

AFYA Growth Metrics

Afya Limited (AFYA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years34.5%
3 Years24.33%
TTM14.07%

Profit CAGR

10 Years-
5 Years32.62%
3 Years41.41%
TTM25.84%

EPS CAGR

10 Years-
5 Years27.96%
3 Years43%
TTM25.63%

Return on Capital

10 Years23.66%
5 Years11.39%
3 Years12.43%
Last Year14.24%

AFYA Recent Earnings

Afya Limited (AFYA) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
Mar 12, 2026
EPS
$0.41
Est $0.38
+7.9%
Revenue
$166M
Est $168M
-0.8%
Q4 2025
Nov 12, 2025
EPS
$0.38
Est $0.32
+18.8%
Revenue
$174M
Est $175M
-0.3%
Q3 2025
Aug 13, 2025
EPS
$0.40
Est $0.40
+0.0%
Revenue
$169M
Est $173M
-2.2%
Q2 2025
May 8, 2025
EPS
$0.55
Est $0.46
+19.6%
Revenue
$160M
Est $165M
-3.1%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMar 12, 2026
$0.41vs $0.38+7.9%
$166Mvs $168M-0.8%
Q4 2025Nov 12, 2025
$0.38vs $0.32+18.8%
$174Mvs $175M-0.3%
Q3 2025Aug 13, 2025
$0.40vs $0.40+0.0%
$169Mvs $173M-2.2%
Q2 2025May 8, 2025
$0.55vs $0.46+19.6%
$160Mvs $165M-3.1%
Based on last 12 quarters of dataView full earnings history →

AFYA Peer Comparison

Afya Limited (AFYA) competitors in Degree-Granting Colleges and Universities — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
PRDO logoPRDOPerdoceo Education CorporationDirect Competitor2.14B34.1114.1024.2%18.9%16.3%0.11
LAUR logoLAURLaureate Education, Inc.Direct Competitor4.64B32.5217.218.64%16.08%25.36%0.71
STRA logoSTRAStrategic Education, Inc.Direct Competitor1.79B78.5814.503.96%10.21%7.85%0.07
GHC logoGHCGraham Holdings CompanyDirect Competitor4.88B1122.6416.892.52%7.94%6.39%0.36
LOPE logoLOPEGrand Canyon Education, Inc.Direct Competitor4.47B164.5121.347.07%26.92%29.53%0.27
APEI logoAPEIAmerican Public Education, Inc.Product Competitor1.01B55.9141.113.89%2.15%10.92%0.23
UTI logoUTIUniversal Technical Institute, Inc.Product Competitor2.03B36.9232.6714.05%4.91%13.02%0.85
COUR logoCOURCoursera, Inc.Product Competitor1.02B6.03-19.459.04%-8.23%-10.06%0.01

Compare AFYA vs Peers

Afya Limited (AFYA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs PRDO

Most directly comparable listed peer for AFYA.

Scale Benchmark

vs HIMS

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

Peer Set

Compare Top 5

vs PRDO, LAUR, STRA, GHC

AFYA Income Statement

Afya Limited (AFYA) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Sales/Revenue216.01M333.94M750.63M1.2B1.72B2.33B2.88B3.3B3.63B
Revenue Growth %-54.59%124.78%60.02%43.14%35.46%23.48%14.9%14.07%
Cost of Goods Sold124.06M168.05M308.85M434.65M652.3M859.55M1.11B1.22B1.27B
COGS % of Revenue57.44%50.32%41.15%36.19%37.94%36.91%38.59%36.79%-
Gross Profit
91.94M▲ 0%
165.88M▲ 80.4%
441.78M▲ 166.3%
766.54M▲ 73.5%
1.07B▲ 39.2%
1.47B▲ 37.7%
1.77B▲ 20.2%
2.09B▲ 18.3%
2.36B▲ 0%
Gross Margin %42.56%49.68%58.85%63.81%62.06%63.09%61.41%63.21%64.98%
Gross Profit Growth %-80.42%166.32%73.51%39.21%37.71%20.18%18.27%-
Operating Expenses42.6M69.44M236.53M403.2M626.18M805.58M999.04M1.08B1.17B
OpEx % of Revenue19.72%20.79%31.51%33.57%36.42%34.59%34.74%32.58%-
Selling, General & Admin45.35M70.03M239.12M402.86M622.62M798.15M1.01B1.07B1.15B
SG&A % of Revenue21%20.97%31.86%33.54%36.21%34.27%35.28%32.31%-
Research & Development00032K09.44M21.5M20.09M4.26M
R&D % of Revenue---0%-0.41%0.75%0.61%-
Other Operating Expenses-2.75M-599K-2.59M347K3.56M0-37.15M-11M-1.31M
Operating Income
49.34M▲ 0%
96.45M▲ 95.5%
205.25M▲ 112.8%
363.33M▲ 77.0%
440.89M▲ 21.3%
664.1M▲ 50.6%
767.06M▲ 15.5%
1.01B▲ 31.9%
1.19B▲ 0%
Operating Margin %22.84%28.88%27.34%30.25%25.64%28.51%26.67%30.63%32.84%
Operating Income Growth %-95.46%112.81%77.02%21.35%50.63%15.5%31.95%-
EBITDA53.52M106.07M278.4M472.84M595.12M876.04M1.06B1.22B1.52B
EBITDA Margin %24.78%31.76%37.09%39.36%34.61%37.61%36.74%36.81%41.94%
EBITDA Growth %-98.18%162.47%69.84%25.86%47.21%20.61%15.11%21.8%
D&A (Non-Cash Add-back)4.18M9.62M73.15M109.5M154.22M211.94M289.51M204.12M330.61M
EBIT49.34M96.45M242.41M363.33M449.11M717.09M815.88M1.01B1.28B
Net Interest Income-381K-573K-51.38M-9.22M-152.61M-261.45M-279.17M-322.94M-339.64M
Interest Income3.17M4.36M9.04M7.05M23.04M27.2M107.12M43.42M141.31M
Interest Expense1.04M2.4M15.94M16.27M175.65M288.65M386.3M366.35M480.88M
Other Income/Expense1.64M2.27M-18.31M-28.28M-167.43M-235.67M-337.48M-335.72M-381.41M
Pretax Income
50.98M▲ 0%
98.72M▲ 93.7%
186.94M▲ 89.4%
335.05M▲ 79.2%
273.46M▼ 18.4%
428.43M▲ 56.7%
429.58M▲ 0.3%
676.39M▲ 57.5%
811.83M▲ 0%
Pretax Margin %23.6%29.56%24.9%27.89%15.9%18.4%14.94%20.47%22.34%
Income Tax2.5M3.99M14.18M27.07M31.18M35.68M24.17M27.47M64.55M
Effective Tax Rate %4.9%4.04%7.58%8.08%11.4%8.33%5.63%4.06%7.95%
Net Income
45.39M▲ 0%
86.35M▲ 90.2%
153.92M▲ 78.2%
292.07M▲ 89.8%
223.33M▼ 23.5%
373.57M▲ 67.3%
386.32M▲ 3.4%
631.51M▲ 63.5%
729.42M▲ 0%
Net Margin %21.01%25.86%20.5%24.32%12.99%16.04%13.43%19.11%20.08%
Net Income Growth %-90.23%78.24%89.76%-23.54%67.28%3.41%63.47%25.84%
Net Income (Continuing)48.48M94.73M172.76M307.99M242.28M392.76M405.42M648.92M747.28M
Discontinued Operations000000000
Minority Interest651K88.37M48.63M51.56M51.87M51.32M41.51M40.63M40.52M
EPS (Diluted)
0.52▲ 0%
0.98▲ 88.5%
2.02▲ 106.1%
3.12▲ 54.5%
2.37▼ 24.0%
4.15▲ 75.1%
4.27▲ 2.9%
6.93▲ 62.3%
7.99▲ 0%
EPS Growth %-88.46%106.12%54.46%-24.04%75.11%2.89%62.3%25.63%
EPS (Basic)0.520.982.033.152.394.154.277.01-
Diluted Shares Outstanding87.68M87.68M76.19M93.64M94.1M89.94M90.54M91.15M91.32M
Basic Shares Outstanding87.68M87.68M75.97M92.68M93.29M89.94M90.47M90.12M90.76M
Dividend Payout Ratio--24.69%------

AFYA Balance Sheet

Afya Limited (AFYA) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Total Current Assets60.48M133.5M1.11B1.41B1.21B1.64B1.2B1.59B1.76B
Cash & Short-Term Investments25.49M62.26M943.21M1.05B748.56M1.09B553.03M911.01M996.83M
Cash Only25.49M62.26M943.21M1.05B748.56M1.09B553.03M911.01M996.83M
Short-Term Investments000000000
Accounts Receivable31.13M58.45M125.44M302.32M403.93M480.64M546.44M621.62M716.92M
Days Sales Outstanding52.663.886191.8685.7575.3269.3568.6768.53
Inventory448K1.11M3.93M7.51M11.83M12.19M1.38M00
Days Inventory Outstanding1.322.424.656.316.625.180.45--
Other Current Assets3.41M11.12M164.62M50.63M42.53M51.74M102.66M57.15M48.52M
Total Non-Current Assets43.15M784.92M1.8B3.39B5.24B5.56B6.38B7.24B7.42B
Property, Plant & Equipment32.48M65.76M413.6M679.46M1.08B1.23B1.38B1.5B1.6B
Fixed Asset Turnover6.65x5.08x1.81x1.77x1.59x1.89x2.09x2.20x2.36x
Goodwill0169.53M459.41M810.66M1.18B1.26B1.33B1.53B1.53B
Intangible Assets4.73M512.93M852.93M1.76B2.72B2.78B3.46B4.01B4.05B
Long-Term Investments3.26M26.31M45.63M51.41M48.48M53.91M51.83M54.44M217.39M
Other Non-Current Assets5.94M36.69M19.32M76.09M207.75M234.32M156.83M151.82M608.5M
Total Assets
103.63M▲ 0%
918.42M▲ 786.3%
2.91B▲ 217.1%
4.79B▲ 64.6%
6.45B▲ 34.5%
7.2B▲ 11.7%
7.58B▲ 5.3%
8.83B▲ 16.4%
9.19B▲ 0%
Asset Turnover2.08x0.36x0.26x0.25x0.27x0.32x0.38x0.37x0.40x
Asset Growth %-786.29%217.12%64.57%34.51%11.67%5.35%16.42%57.99%
Total Current Liabilities51.94M182.33M333.23M589.38M766.51M905.69M1.06B1.14B1.8B
Accounts Payable6.74M8.1M149.51M224.16M298.95M333.19M108.22M128.08M249.13M
Days Payables Outstanding19.8317.6176.69188.24167.28141.4935.5938.4674.02
Short-Term Debt1.16M26.8M53.61M117.67M143.2M207.38M179.25M363.55M916.83M
Deferred Revenue (Current)8.25M13.74M36.86M63.84M114.58M133.05M00417.16M
Other Current Liabilities24.14M108.99M47.9M84.19M146.46M157.24M514.14M361.45M293.69M
Current Ratio1.16x0.73x3.34x2.38x1.57x1.81x1.14x1.39x1.39x
Quick Ratio1.16x0.73x3.32x2.37x1.56x1.79x1.14x1.39x1.39x
Cash Conversion Cycle34.0948.7-111.05-90.07-74.91-60.9934.21--5.49
Total Non-Current Liabilities4.92M145.73M465.5M1.37B2.68B3.04B2.88B3.38B2.6B
Long-Term Debt2.66M51.03M6.75M576M1.3B1.74B1.62B1.83B996.84M
Capital Lease Obligations00261.82M385.73M689.13M737.07M837.67M932.76M3.84B
Deferred Tax Liabilities000000000
Other Non-Current Liabilities2.26M94.7M196.93M408.21M687.35M568.93M423.71M614.4M2.41B
Total Liabilities56.86M328.06M798.73M1.96B3.45B3.95B3.94B4.52B4.4B
Total Debt3.82M77.83M344.87M1.14B2.16B2.71B2.68B3.17B2.97B
Net Debt-21.67M15.57M-598.34M96.33M1.41B1.62B2.12B2.26B1.98B
Debt / Equity0.08x0.13x0.16x0.40x0.72x0.84x0.73x0.74x0.74x
Debt / EBITDA0.07x0.73x1.24x2.41x3.63x3.10x2.53x2.61x1.95x
Net Debt / EBITDA-0.40x0.15x-2.15x0.20x2.37x1.85x2.01x1.86x1.86x
Interest Coverage47.35x40.12x12.88x22.33x2.51x2.30x1.99x2.76x2.66x
Total Equity
46.76M▲ 0%
590.35M▲ 1162.5%
2.11B▲ 258.0%
2.83B▲ 34.1%
3B▲ 5.9%
3.25B▲ 8.3%
3.64B▲ 12.1%
4.31B▲ 18.3%
4.79B▲ 0%
Equity Growth %-1162.47%258.04%34.07%5.87%8.34%12.09%18.32%64.06%
Book Value per Share0.536.7327.7430.2631.8836.1440.2447.2952.42
Total Shareholders' Equity46.11M501.98M2.07B2.78B2.95B3.2B3.6B4.27B4.75B
Common Stock66.48M315M17K17K17K17K17K17K17K
Retained Earnings40.31M52.58M115.92M407.99M631.32M1B1.38B2.01B2.46B
Treasury Stock0000-152.63M-304.95M-299.15M-273.95M-240.14M
Accumulated OCI43.21M59.81M115.92M50.72M000187.5M0
Minority Interest651K88.37M48.63M51.56M51.87M51.32M41.51M40.63M40.52M

AFYA Cash Flow Statement

Afya Limited (AFYA) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Cash from Operations39.92M80.32M299.22M371.51M630.87M843.9M1.04B1.43B1.43B
Operating CF Margin %18.48%24.05%39.86%30.93%36.69%36.23%36.29%43.36%-
Operating CF Growth %-101.21%272.54%24.16%69.81%33.77%23.67%37.28%3622.66%
Net Income50.98M98.72M186.94M335.05M273.46M428.43M429.58M676.39M729.42M
Depreciation & Amortization4.02M9.08M73.15M108.74M154.22M206.22M289.51M333.34M365.32M
Stock-Based Compensation02.16M18.11M32.61M43.38M31.27M31.54M32.42M22.81M
Deferred Taxes05.29M-9.86M000000
Other Non-Cash Items-427K1.5M55.47M64.24M208.6M287.89M352.39M409.87M542.15M
Working Capital Changes-14.66M-36.44M-24.6M-169.14M-48.8M-109.92M-59.39M-19.36M-174.42M
Change in Receivables-9.79M-28.2M-35.56M-178M-81.99M-129.16M-131.34M-79.34M-205.91M
Change in Inventory-140K-593K-236K-3.11M-3.72M-363K10.95M0-1.15M
Change in Payables-2.38M-1.53M3.03M4.47M14.48M9.97M24.5M18.13M14.24M
Cash from Investing-22.07M-262.39M-354.15M-1.04B-1.27B-591.47M-1.14B-1.09B-594.11M
Capital Expenditures-21.07M-21.69M-121.71M-89.83M-125.87M-297.02M-118.44M-136.92M-167.2M
CapEx % of Revenue9.75%6.49%16.21%7.48%7.32%12.75%4.12%4.14%-
Acquisitions0-221.3M-241.57M-919.97M-1.01B-301.2M-907.52M-627.57M-215.6M
Investments---------
Other Investing-1M-19.4M9.13M-32.97M-143.17M6.75M-117.09M-327.12M-211.31M
Cash from Financing-4.13M218.84M921.43M756.42M364.68M92.94M-439.94M23.97M-806.2M
Debt Issued (Net)-1.62M68.38M-107.49M394.5M681.7M466.58M-138.81M321.68M-352.35M
Equity Issued (Net)001000K1000K-1000K-1000K-1000K00
Dividends Paid00-38.75M00000-129.01M
Share Repurchases0000-213.72M-152.32M-12.37M00
Other Financing-2.51M150.46M36.15M-27.24M-103.3M-221.32M-288.76M-297.71M-324.84M
Net Change in Cash
13.72M▲ 0%
36.77M▲ 168.0%
880.95M▲ 2295.8%
101.83M▼ 88.4%
-296.48M▼ 391.1%
344.52M▲ 216.2%
-540.05M▼ 256.8%
357.99M▲ 166.3%
159.95M▲ 0%
Free Cash Flow
18.85M▲ 0%
58.63M▲ 211.0%
177.51M▲ 202.8%
233.92M▲ 31.8%
354.07M▲ 51.4%
546.88M▲ 54.5%
798.2M▲ 46.0%
1.04B▲ 30.3%
1.26B▲ 0%
FCF Margin %8.73%17.56%23.65%19.47%20.59%23.48%27.75%31.48%34.56%
FCF Growth %-211.02%202.75%31.78%51.36%54.46%45.96%30.3%53.61%
FCF per Share0.210.672.332.503.766.088.8211.4111.41
FCF Conversion (FCF/Net Income)0.88x0.93x1.94x1.27x2.82x2.26x2.70x2.27x1.72x
Interest Paid0000000049.33M
Taxes Paid000000000

AFYA Key Ratios

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

Metric2018201920202021202220232024TTM
Return on Equity (ROE)27.11%11.38%11.81%7.66%11.95%11.21%15.88%16.05%
Return on Invested Capital (ROIC)22.93%14.51%12.26%9.01%10.73%10.82%12.3%12.3%
Gross Margin49.68%58.85%63.81%62.06%63.09%61.41%63.21%64.98%
Net Margin25.86%20.5%24.32%12.99%16.04%13.43%19.11%20.08%
Debt / Equity0.13x0.16x0.40x0.72x0.84x0.73x0.74x0.74x
Interest Coverage40.12x12.88x22.33x2.51x2.30x1.99x2.76x2.66x
FCF Conversion0.93x1.94x1.27x2.82x2.26x2.70x2.27x1.72x
Revenue Growth54.59%124.78%60.02%43.14%35.46%23.48%14.9%14.07%

AFYA Frequently Asked Questions

Afya Limited (AFYA) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Afya Limited (AFYA) reported $3.63B in revenue for fiscal year 2024. This represents a 1582% increase from $216.0M in 2017.

Afya Limited (AFYA) grew revenue by 14.9% over the past year. This is steady growth.

Yes, Afya Limited (AFYA) is profitable, generating $729.4M in net income for fiscal year 2024 (19.1% net margin).

Dividend & Returns

Afya Limited (AFYA) has a return on equity (ROE) of 15.9%. This is reasonable for most industries.

Afya Limited (AFYA) generated $1.26B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Afya Limited (AFYA) financial analysis — history, returns, DCA and operating performance tools

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