EcoRodovias Infraestrutura e Logistica S.A.

EcoRodovias Infraestrutura e Logistica S.A.

12.80
BRL
-0.57
(-4.26%)
0.74EPS
9.43P/E
5.15BMarket Cap
Nov 09Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
4.67
5.21
4.86
5.02
5.44
5.62
7.02
7.17
7.38
8.71
12.72
14.19
16.56
17.09
Basic EPS, GAAP
0.7
0.84
0.19
-1.71
0.7
0.66
-0.33
-0.76
0.59
0.35
0.82
1.3
1.27
0.79
Free Cash Flow per Basic Share
0.75
0.57
0.59
1.13
1.21
1.05
0.7
0.66
-0.76
-1.15
-1.85
0.37
-2.55
0.72
Dividend per Share
0.77
1.42
0.45
0.26
0.42
0.71
- -
- -
- -
0.01
0.08
0.19
0.31
- -
Book Value per Share
3.67
3.07
2.81
0.89
1.17
1.14
0.81
0.1
3.05
3.31
3.94
4.93
5.9
5.91
Tangible Book Value per Share
-3.08
-4.66
-6.01
-6.71
-6.93
-9.02
-13.2
-14.34
-13.41
-16.15
-21.91
-25.71
-33.48
-35.9
Basic Weighted Avg Shares
565
564
563
563
563
563
563
558
630
696
696
696
696
696
Sales/Revenue/Turnover
2,639
2,937
2,736
2,829
3,066
3,169
3,953
4,000
4,652
6,061
8,845
9,872
11,521
11,891
Operating Margin (%)
35.14
29.19
34.66
37.3
38.49
36.21
30.04
32.42
33.19
26.46
33
35.78
35.1
33.08
Depreciation Expense
237
309
344
340
419
434
568
547
691
581
798
985
1,358
1,620
Net Income, GAAP
398
472
109
-965
392
375
-185
-424
372
246
570
904
886
546
Effective Tax Rate (%)
37
33.85
54.74
218.05
44.46
44.63
293.76
628.62
43.71
52.69
53.41
46.9
51.62
60.91
Profit Margin (%)
15.08
16.07
3.98
-34.1
12.8
11.82
-4.69
-10.6
8
4.05
6.44
9.16
7.69
4.59
Working Capital
201
-352
-609
-506
380
1,080
-1,681
-769
-1,488
-1,234
-94
-2,329
1,986
3,788
LT Debt
2,865
3,238
3,963
3,910
4,849
6,010
5,384
6,896
6,777
9,395
14,445
14,704
24,724
28,170
Total Equity
2,098
1,784
1,638
573
757
640
455
56
2,330
2,519
2,986
3,691
4,374
4,399
Return on Invested Capital (%)
10.94
12.36
6.64
-14.59
10.86
8.7
-17.67
-54.26
8.27
5.4
7.2
8.13
7.4
5.27
Return on Capital (%)
10.37
11.55
4.53
-24.52
9.43
8.06
-13.94
-30.91
6.36
4.94
6.44
7.48
6.77
4.64
Return on Common Equity (%)
19.04
24.82
6.58
-92.64
67.75
57.66
-33.85
-165.77
34.19
11.11
22.59
29.33
23.53
13.84

Capital Structure

BRL

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
1,933
1,811
1,045
LT Borrowings
24,595
25,402
27,955
LT Finance Leases
130
145
215
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
696
696
696
Market Capitalization
7,367
5,913
5,148

Working Capital

BRL

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
5,828
5,741
6,272
Cash, Cash Equivalents & STI
4,780
4,612
5,127
Accounts Receivable, Net
611
627
583
Inventories
- -
- -
- -
Total Current Liabilities
3,842
3,393
2,483
Payables & Accruals
- -
- -
- -
ST Debt
1,933
1,811
1,045
Deferred Revenue
- -
- -
- -

Growth Rates

BRL

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
395.13%
823.23%
18.53%
Free Cash Flow
-97.5%
-203.89%
-796.81%
Net Income, GAAP
-118.45%
-6.64%
-2.02%
Sales/Revenue/Turnover
16.19%
24.17%
16.7%
Total Cash Common Dividend
- -
- -
58.73%

Quarterly Revenue

BRL

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2,127
2,414
2,535
2,797
9,872
2025
2,426
2,718
2,993
3,383
11,521
2026
2,559
2,955
- -
- -
- -

Quarterly Earnings Per Share

BRL

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.33
0.39
0.38
0.2
1.3
2025
0.21
0.29
0.62
0.15
1.27
2026
-0.01
0.03
- -
- -
- -

Quarterly Dividends Per Share

BRL

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.19
2025
- -
- -
- -
- -
0.31
2026
- -
- -
- -
- -
- -

Company Description

CEO
Marcello Guidotti
Full Time Employees
5,779
Sector
Transportation
Industry
Other transportation
Address
Rua Gomes de Carvalho São Paulo SP Brazil 04547-005
IPO Date
Mar 30, 2010
Business
EcoRodovias Infraestrutura e Logística S.A. (ECOR3.SA) operates as one of Brazil's largest highway concessionaires, managing approximately 4,800 kilometers of toll roads across 12 concessions in eight states, spanning key commercial corridors in the South, Southeast, North, Northeast, and Midwest regions; it also oversees a port asset under transition at the Port of Santos and a truck staging area. The company's core offerings include highway operation and maintenance, toll collection, infrastructure improvements such as road widening, paving, bridges, tunnels, and beltways; port operations encompassing cargo handling, storage, empty container services, and customs clearance; and associated logistics integration linking intermodal terminals, distribution centers, and ports to support import/export flows connecting major ports like Santos, Paranaguá, and Rio Grande. Its subsidiaries, including Ecovias dos Imigrantes, Ecopistas, Eco101 (now Ecovias Capixaba), EcoRioMinas, Ecovias do Araguaia, and Ecovias Noroeste Paulista, serve diverse customers such as freight transporters, commuters, agricultural producers, and industrial shippers, primarily within Brazil. Founded in 1997 and headquartered at Rua Gomes de Carvalho, 1510, in São Paulo, Brazil, EcoRodovias focuses on import/export corridors, tourist routes, and grain transport links, positioning it as a critical player in Brazil's infrastructure sector with around 5,400 employees. A subsidiary of Italy's ASTM Group, it listed on B3's Novo Mercado in 2010 following its IPO and has pursued strategic growth through auctions, establishing control via Igli. In recent developments, EcoRodovias won and began operations for the Nova Raposo Lot (Ecovias Raposo Castello) in 2024, adding urban stretches of SP-280 (Castello Branco) and SP-270 (Raposo Tavares) highways linking São Paulo's metropolitan region to Santos Port, with toll collection starting in March 2025; it also signed amendments to key concession agreements, including the Ecovias 101 contract on August 26, 2025, extending the term to 24 years and rebranding to Ecovias Capixaba, alongside amendments for Ecovias Leste Paulista and Ecovias Imigrantes. The company completed long-term financings for Ecovias Noroeste Paulista (September 2025) and EcoRioMinas (January 2025), tapped R$2 billion in debt markets, issued debentures, and executed an exchange offer; it further manages Ecoporto Santos under a transition contract signed December 2024 and underwent a brand repositioning in March 2025. These moves, including six new concessions since 2018 representing nearly 50% of adjusted EBITDA, extend average contract terms beyond 20 years and solidify its market leadership.