Sendas Distribuidora S.A. (ASAI) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 24	$0.63	$0.6	-4.8%	—	$18.6B	—
Q2 24	$0.45	$0.45	0.0%	—	$17.9B	—
Q1 24	$0.26	$0.2	-23.1%	—	$17.2B	—
Q4 23	—	$1.14	—	—	$18.4B	—
Q3 23	—	$0.68	—	—	$2.9B	—
Q2 23	$0.38	$0.55	+44.7%	—	$2.8B	—
Q1 23	—	$0.05	—	—	$2.6B	—
Q4 22	$0.21	$0.29	+38.1%	—	$2.8B	—
Q3 22	$0.95	$1.05	+10.5%	—	$2.4B	—
Q2 22	$0.57	$1.15	+101.8%	—	$2.3B	—
Q1 22	$0.31	$0.8	+158.1%	—	$2B	—
Q3 21	$0.24	$0.63	+162.5%	—	$1.9B	—
Q2 21	$0.93	$0.2	-78.5%	—	$1.7B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY23	—	$2.63	—	—	$66.5B	—
FY22	—	$4.52	—	—	$9.4B	—
FY21	—	$5.99	—	—	$7.2B	—
FY20	—	$5.21	—	—	$6.2B	—
FY19	—	$3.9	—	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23
Revenue	$3.2B	$4B	$4.9B	$6.2B	$7.2B	$9.4B	$66.5B
YoY change	—	+24.1%	+22%	+28.3%	+16.2%	+30.1%	+605%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23
Revenue	3.2B	4B	4.9B	6.2B	7.2B	9.4B	66.5B
Cost of revenue	2.7B	3.3B	4B	5.2B	6B	7.9B	55.7B
Gross profit	513.2M	721.9M	818.9M	1B	1.2B	1.6B	10.8B
Gross margin	16%	18.1%	16.9%	16.4%	17.1%	16.4%	16.3%
Research & development	—	—	—	—	—	—	—
Selling, general & administrative	311.1M	377.7M	454.2M	561.7M	678.6M	893.9M	6.2B
Operating expenses	317.2M	370.8M	463.4M	564.8M	677.1M	897.2M	6.2B
Operating income	154.7M	296.9M	287.2M	371.5M	447.3M	498M	3.2B
Operating margin	4.82%	7.46%	5.91%	5.96%	6.17%	5.28%	4.79%
Non-operating income, net	-7.6M	-7.4M	7.3M	-13.7M	-1M	-4.8M	100M
Pretax income	122.5M	268.7M	259.9M	281.2M	319.9M	231M	554M
Income tax	36.5M	82.5M	73.7M	75.4M	41.4M	19.9M	-156M
Net income	86M	186.2M	183.4M	269.2M	278.6M	211.1M	710M
Net margin	2.68%	4.67%	3.77%	4.32%	3.84%	2.24%	1.07%
EBITDA	197.3M	361.5M	403M	681.2M	592.4M	660.3M	4.6B
EPS	1.85	4.01	3.9	5.21	5.99	4.52	2.63
Diluted EPS	1.85	4.01	3.9	5.21	5.94	4.52	2.62

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 21	Q1 22	Q2 22	Q3 22	Q4 22	Q1 23	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24
Revenue	2B	2B	2.3B	2.4B	2.8B	2.6B	2.8B	2.9B	18.4B	17.2B	17.9B	18.6B
Cost of revenue	1.7B	1.7B	1.9B	2B	2.3B	2.2B	2.3B	2.5B	15.3B	14.4B	14.9B	15.5B
Gross profit	344.2M	315.9M	371.1M	390M	473.8M	420.1M	443.6M	477M	3.1B	2.8B	2.9B	3.1B
Gross margin	17.2%	16%	16.1%	16.3%	17.2%	16.1%	16%	16.2%	16.7%	16.3%	16.5%	16.4%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	189.5M	189.8M	207.5M	220.3M	276.3M	261.6M	256.1M	272.9M	1.7B	1.6B	1.7B	1.7B
Operating expenses	182.7M	191.2M	213.3M	223.2M	269.4M	260.9M	259.2M	261.6M	1.7B	1.6B	1.7B	1.7B
Operating income	130.8M	89.5M	120.9M	126.7M	157.6M	104.3M	125.4M	151.4M	1B	802M	861M	939M
Operating margin	6.54%	4.52%	5.26%	5.29%	5.71%	3.99%	4.54%	5.15%	5.59%	4.66%	4.82%	5.06%
Non-operating income, net	-9.7M	1.4M	1.7M	2.8M	-7.4M	6.1M	2.1M	2.1M	13M	-46M	16M	17M
Pretax income	71.5M	38.6M	65.9M	53.3M	73.2M	-1.9M	18.9M	26M	306M	54M	158M	195M
Income tax	-19.7M	1.6M	10.7M	4.7M	2.9M	-14.4M	-8.1M	-6.1M	9M	-6M	35M	39M
Net income	91.2M	37M	55.2M	48.6M	70.2M	12.5M	27M	32M	297M	60M	123M	156M
Net margin	4.56%	1.87%	2.4%	2.03%	2.54%	0.48%	0.98%	1.09%	1.61%	0.35%	0.69%	0.84%
EBITDA	147.6M	140.8M	176.7M	184.1M	143.8M	155.7M	199.7M	235.3M	1.4B	1.2B	1.3B	1.4B
EPS	—	0.79	1.18	1.04	1.5	0.27	0.58	0.69	—	0.22	0.45	0.58
Diluted EPS	—	0.79	1.18	1.04	1.5	0.27	0.57	0.68	—	0.22	0.45	0.58

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	Current
Market cap	—	—	—	—	3.2B	4.9B	—	13.5B
Enterprise value	—	—	—	—	4.8B	7.6B	—	32.5B
Shares outstanding	268.4M	268.4M	268.4M	268.4M	268.8M	269.8M	1.6B	1.6B

Valuation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	Current
P/E	—	—	—	—	11.4	23.4	—	12
P/S	—	—	—	—	0.44	0.52	—	0.2
P/B	—	—	—	—	6.66	7.33	—	3.14
EV/EBITDA	—	—	—	—	8.16	11.4	—	7.06
EV/Sales	—	—	—	—	0.67	0.8	—	0.49
Earnings yield	—	—	—	—	8.75%	4.27%	—	8.35%
FCF yield	—	—	—	—	1.02%	3.45%	—	5.24%
PEG	—	—	—	—	—	—	—	-0.76

Profitability

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	Current
Gross margin	16%	18.1%	16.9%	16.4%	17.1%	16.4%	16.3%	16.4%
Operating margin	4.82%	7.46%	5.91%	5.96%	6.17%	5.28%	4.79%	4.77%
Net margin	2.68%	4.67%	3.77%	4.32%	3.84%	2.24%	1.07%	16.3%
ROE	16.4%	26.3%	10.9%	115.5%	58.2%	31.3%	15.3%	15.3%
ROA	6.07%	9.84%	2.95%	8.27%	7.04%	3%	1.64%	1.64%
ROIC	17.4%	25.6%	6.9%	18.7%	18.3%	13.8%	13.5%	12%
Return on tangible assets	6.68%	12.1%	3.88%	9.29%	8.44%	3.98%	2.16%	1.89%

Financial health

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	Current
Current ratio	0.91	0.82	0.88	0.95	1.01	0.86	0.89	0.86
Quick ratio	0.4	0.38	0.51	0.52	0.51	0.47	0.48	0.43
Debt / equity	0.49	0.48	1.3	7.87	4.37	5.38	5.26	0.05
Debt / assets	0.18	0.18	0.35	0.56	0.53	0.52	0.56	0.59
Net debt / EBITDA	0.52	0.26	3.24	1.8	2.78	3.96	4.11	4.05
Interest coverage	6.76	11	4.9	3.34	3.21	1.95	1.21	1.24
Effective tax rate	29.8%	30.7%	28.4%	26.8%	12.9%	8.61%	0%	10.8%

Per share

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	Current
Revenue per share	12	14.8	18.1	23.2	27	35	42.4	42.4
EPS (basic)	1.85	4.01	3.9	5.21	5.99	4.52	2.63	2.63
EPS (diluted)	1.85	4.01	3.9	5.21	5.94	4.52	2.62	2.62
Book value per share	1.95	2.64	6.26	0.87	1.78	2.5	2.95	3.19
FCF per share	0.23	0.38	1.13	1.2	0.12	0.63	1.71	1.51
Cash per share	0.57	0.91	3.24	2.28	1.64	3.75	3.48	0.07
Capex per share	0.46	0.57	0.64	0.62	1.43	2.26	1.97	1.18

Capital allocation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	Current
Capex / revenue	3.86%	3.84%	3.54%	2.66%	5.32%	6.46%	4.66%	2.57%
Capex / operating cash flow	62.2%	42.4%	31.2%	35.8%	65.9%	79%	58.7%	54.6%
Payout ratio	16.3%	10.7%	28.2%	31.4%	9.19%	13.8%	16.6%	0%
Dividend yield	—	—	—	—	0.8%	0.59%	—	2.02%

Yield

2.02%

trailing twelve months

Frequency

Annual

Last dividend

$0.0506

ex-dividend Apr 28, 2023

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Apr 28, 2023	$0.0506
May 6, 2022	$0.1196
Apr 29, 2021	$0.0626

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23
Cash & short-term investments	154.2M	244.1M	869.6M	611.1M	441.2M	1B	5.5B
Receivables	35.1M	23.7M	85M	31.5M	45.9M	98.6M	1.2B
Inventory	303.7M	386.7M	898M	647M	757.9M	1.1B	6.7B
Total current assets	535M	726.4M	2.1B	1.4B	1.5B	2.5B	14.6B
Property, plant & equipment	—	424.4M	1.1B	617.2M	862.9M	1.6B	10.6B
Goodwill & intangibles	129.6M	350.6M	1.5B	358.9M	653M	1.7B	10.3B
Total assets	1.4B	1.9B	6.2B	3.3B	4B	7B	43.2B
Accounts payable	479.3M	624.1M	1.7B	875.2M	1.1B	2.2B	12.1B
Short-term debt	15.1M	131M	324.6M	396.6M	148.3M	293.3M	2.6B
Total current liabilities	585M	886.8M	2.4B	1.5B	1.5B	2.8B	16.4B
Long-term debt	241.4M	207.8M	1.9B	1.4B	1.9B	3.3B	21.7B
Total liabilities	892.8M	1.2B	4.5B	3B	3.5B	6.4B	38.5B
Shareholders' equity	523.2M	708M	1.7B	233.1M	478.6M	674.1M	4.6B
Total debt	256.4M	338.8M	2.2B	1.8B	2.1B	3.6B	24.4B
Net debt	102.3M	94.6M	1.3B	1.2B	1.6B	2.6B	18.9B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q2 21	Q3 21	Q4 21	Q3 22	Q4 22	Q1 23	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24
Cash & short-term investments	780.5M	498.5M	441.2M	728.4M	1B	715.3M	795.2M	—	5.5B	4.5B	5.1B	4B
Receivables	39.8M	40.5M	45.9M	78.6M	98.6M	97.9M	121.6M	—	1.2B	788M	1.9B	2.1B
Inventory	638.1M	771.7M	757.9M	1B	1.1B	1.1B	1.1B	—	6.7B	6.6B	7.2B	7.8B
Total current assets	1.6B	1.5B	1.5B	2.1B	2.5B	2.1B	2.3B	—	14.6B	13.3B	15.6B	15.4B
Property, plant & equipment	668.1M	767.7M	862.9M	1.4B	1.6B	1.7B	1.7B	4.8B	10.6B	10.3B	10.2B	10.1B
Goodwill & intangibles	362.3M	366.8M	653M	1.7B	1.7B	1.7B	1.7B	—	10.3B	10.3B	10.3B	10.4B
Total assets	3.5B	3.6B	4B	6.3B	7B	6.8B	6.9B	—	43.2B	41.7B	44.1B	43.9B
Accounts payable	779.5M	918.8M	1.1B	1.6B	2.2B	1.3B	2.2B	—	12.1B	9.8B	10.4B	11B
Short-term debt	416M	445.7M	148.3M	209M	293.3M	292.1M	283.8M	—	2.6B	5.9B	6.8B	5.2B
Total current liabilities	1.4B	1.6B	1.5B	2.3B	2.8B	2.7B	2.7B	—	16.4B	17.4B	18.7B	17.8B
Long-term debt	1.8B	1.5B	1.9B	3.2B	3.3B	3.4B	3.4B	—	21.7B	19.3B	20.2B	20.7B
Total liabilities	3.2B	3.2B	3.5B	5.7B	6.4B	6.1B	6.2B	—	38.5B	37B	39.2B	38.9B
Shareholders' equity	331.7M	415.6M	478.6M	622M	674.1M	688.7M	714.8M	—	4.6B	4.7B	4.8B	5B
Total debt	2.2B	2B	2.1B	3.4B	3.6B	3.7B	3.7B	—	24.4B	25.2B	26.9B	26B
Net debt	1.4B	1.5B	1.6B	2.7B	2.6B	2.9B	2.9B	—	18.9B	20.6B	21.8B	21.9B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23
Net income	86M	186.2M	183.4M	269.2M	278.6M	211.1M	710M
Depreciation & amortization	45.5M	59M	83.7M	237.4M	118.9M	171.3M	1.5B
Stock-based compensation	692.1K	1.4M	346.1K	865.1K	2.4M	3.1M	20M
Change in working capital	34.4M	57.4M	182.4M	-115.4M	49.3M	63.2M	379M
Operating cash flow	199.3M	361.3M	552.5M	463.5M	584.8M	771.7M	5.3B
Capital expenditure	-123.9M	-153.1M	-172.2M	-165.8M	-385.5M	-609.8M	-3.1B
Investing cash flow	-123.9M	-153.1M	-745.1M	-811.5M	-419.1M	-545.7M	-2.9B
Dividends paid	-14M	-19.9M	-51.7M	-84.6M	-25.6M	-29.1M	-118M
Share repurchases	—	—	—	—	—	—	—
Financing cash flow	1.2M	-17.1M	815.8M	-41.4M	-97.6M	604.4M	-1.2B
Net change in cash	76.7M	191M	623.2M	-389.3M	68.2M	830.4M	1.2B
Free cash flow	62.6M	103.3M	302.8M	320.8M	32.4M	170.3M	2.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 21	Q1 22	Q2 22	Q3 22	Q4 22	Q1 23	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24
Net income	91.2M	37M	55.2M	48.6M	70.2M	12.5M	27M	32M	297M	60M	123M	156M
Depreciation & amortization	32.5M	37.9M	40.7M	42.6M	50.2M	58.1M	61.9M	67.5M	392M	399M	407M	411M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	220.8M	346.1K	-141.2M	114.7M	95.5M	-195.5M	231.2M	-138.8M	876M	-1B	-1.3B	-373M
Operating cash flow	379.3M	134.6M	23.5M	283.9M	326.5M	-19.2M	426.7M	85M	2.3B	203M	-114M	985M
Capital expenditure	-116.4M	-116.8M	-231.5M	-178.7M	-82.7M	-88.6M	-144.3M	-190.2M	-652M	-409M	-441M	-347M
Investing cash flow	-116.4M	-160.1M	-212.8M	-113.5M	-59.3M	-88.6M	-144.3M	-182.2M	-496M	-398M	-436M	-347M
Dividends paid	-10.9M	0	-29.1M	0	0	-8.7M	-11.8M	0	0	0	0	0
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-101.9M	465.6M	2.9M	74.2M	18.9M	-141.5M	-124.2M	103.1M	-289M	-685M	1.7B	-829M
Net change in cash	160.9M	440.2M	-186.4M	244.7M	286M	-249.3M	158.1M	5.9M	1.5B	-880M	1.2B	-191M
Free cash flow	114.2M	-73.4M	-167.5M	107.5M	303.7M	-90.8M	305.9M	-59.7M	1.8B	41M	-363M	912M

Sendas Distribuidora S.A. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement