CSANYOTCRetail-Auto Dealers & Gasoline StationsFiscal year ends December 31
Cosan S.A.
Financials through fiscal 2024, year ended Dec 31, 2024Last filing: 20-F on Apr 10, 2026
$3.98+0.03 (+0.71%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2017 to 2024
Gross margin
31.2%+2.1 pts over 5 years
Operating margin
17.5%−4.3 pts over 5 years
Net margin
-21.4%−27.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2024
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +11.4% | +19.0% | +16.4% | – | |
| Gross profit | +25.6% | +33.0% | +18.0% | – | |
| Operating income | -29.9% | +23.4% | +11.3% | – |
Returns and balance sheet
8 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2019 | FY2024 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | -59.2% | |
| Return on assets | – | – | -6.7% | |
| Current ratio | – | 1.79 | 1.72 | |
| Debt to equity | – | 5.38 | 6.09 | |
| Net debt to EBITDA | – | 3.03× | 4.29× | |
| Interest coverage | – | 1.2× | 1.0× | |
| Inventory turnover | – | – | 15.6× | |
| Diluted shares | – | 1.84B | – |
Cash use needs five years of cash flow figures
Cosan does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-21.4%
×Asset turnover0.31×
×Equity multiplier8.82×
=Return on equity, FY2024-59.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2024 | -21.4% | 0.31× | 8.82× | -59.2% |
| FY2023 | 2.8% | 0.29× | 6.59× | 5.3% |
| FY2022 | 3.0% | 0.34× | 6.56× | 6.6% |
| FY2021 | 24.2% | 0.29× | 9.08× | 63.1% |
| FY2020 | 4.2% | 0.27× | 14.02× | 16.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2024 against fiscal 2023
2of 6 tests passed in fiscal 2024. Some tests lack the figures they need.
- ProfitableNet income above zero-9.42B BRL
- Cash generatingOperating cash flow above zero–
- Return on assets improvedROA up on the prior year0.8% → -6.7%
- Earnings backed by cashOperating cash flow above net income– vs -9.42B BRL
- Less leverageLong-term debt to assets fell37.2% → 43.9%
- Better liquidityCurrent ratio rose1.77 → 1.72
- No dilutionShare count did not rise– → –
- Gross margin improvedGross margin up on the prior year27.66% → 31.20%
- More efficientAsset turnover rose0.29 → 0.31