1. Brazil Stocks

  2. •

    Process industries

  3. •

    Textiles
Cia Melhoramentos de Sao Paulo

Cia Melhoramentos de Sao Paulo

46.34
BRL
+10.84
(+30.54%)
-7.13EPS
236.68MMarket Cap
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
20.98
42.18
17.58
82.43
20.26
18.96
16.77
13.85
19.86
31.49
27.62
25.56
27.75
26.69
Basic EPS, GAAP
-1.07
5.25
-12.83
38.17
5.26
0.65
-5.04
-7.55
-4.48
0.24
1.23
0.52
-5.12
-7.13
Free Cash Flow per Basic Share
-10.32
2.9
-9.14
9.8
14.26
8.17
-8.48
-7.46
-3.1
6.38
6.7
-1.57
8.06
2.77
Dividend per Share
- -
- -
- -
1.19
4.98
4.55
0.35
- -
- -
- -
0.06
0.29
0.12
- -
Book Value per Share
129.46
128.52
111.62
140.33
146.17
163.91
138.42
129.67
129.03
129.41
131.54
132.77
127.34
121.83
Tangible Book Value per Share
129.37
128.46
111.62
140.33
146.17
163.91
138.4
129.67
128.78
129.35
131.02
132.08
127.13
121.61
Basic Weighted Avg Shares
6
6
6
6
7
7
7
7
7
6
6
6
6
7
Sales/Revenue/Turnover
134
269
112
526
147
138
122
101
144
201
176
163
177
176
Operating Margin (%)
6.14
21.49
-61.06
50
-8.62
-12.36
-34.02
-54.18
-24.72
-4.37
-1.93
6.29
-15.53
-25.22
Depreciation Expense
8
11
14
14
14
14
14
19
26
27
33
16
26
28
Net Income, GAAP
-7
33
-82
244
38
5
-37
-55
-33
2
8
3
-33
-47
Effective Tax Rate (%)
- -
7.44
- -
5.38
- -
- -
- -
- -
- -
- -
58.7
81.85
- -
- -
Profit Margin (%)
-5.1
12.44
-72.97
46.3
25.95
3.41
-30.06
-54.53
-22.55
0.75
4.47
2.03
-18.47
-26.7
Working Capital
11
91
33
175
162
121
69
34
59
30
47
27
12
-35
LT Debt
41
41
58
26
8
8
41
71
119
109
118
130
161
146
Total Equity
826
820
712
896
933
920
883
828
824
826
839
847
812
777
Return on Invested Capital (%)
- -
5.93
- -
28.89
- -
- -
- -
- -
- -
- -
-0.03
0.34
- -
- -
Return on Capital (%)
- -
6.39
- -
31
- -
- -
- -
- -
- -
- -
1.32
0.57
- -
- -
Return on Common Equity (%)
-0.82
4.07
-10.68
30.3
4.17
0.51
-4.06
-6.41
-3.94
0.18
0.95
0.39
-3.94
-5.88

Capital Structure

BRL

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
46
60
80
LT Borrowings
160
152
146
LT Finance Leases
1
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
6
6
6
Market Capitalization
293
296
237

Working Capital

BRL

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
129
123
121
Cash, Cash Equivalents & STI
28
22
37
Accounts Receivable, Net
32
33
27
Inventories
28
25
29
Total Current Liabilities
117
137
156
Payables & Accruals
- -
- -
- -
ST Debt
46
60
80
Deferred Revenue
- -
- -
- -

Growth Rates

BRL

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
1.64%
-0.36%
-4.09%
Free Cash Flow
-147.22%
-214.36%
-614.28%
Net Income, GAAP
-226.99%
-173.93%
-1,087.38%
Sales/Revenue/Turnover
33.31%
14.32%
8.56%
Total Cash Common Dividend
- -
- -
-57.94%

Quarterly Revenue

BRL

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
40
37
41
45
163
2025
43
44
46
43
177
2026
44
42
- -
- -
- -

Quarterly Earnings Per Share

BRL

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-1.09
0.13
-1.11
2.74
0.52
2025
-1.62
-1.64
-1.37
-0.3
-5.12
2026
-2.14
-3.38
- -
- -
- -

Quarterly Dividends Per Share

BRL

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.29
2025
- -
- -
- -
- -
0.12
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Rafael Gibini
Sector
Process industries
Industry
Textiles
Address
Rua Tito, nº 479 São Paulo SP Brazil 05051-000
IPO Date
Jul 1, 1994
Website
melhoramentos.com.br
Similar Companies
Sasa Polyester Sanayi A.S. (BIST:SASA)
WF Holding Limited (NASDAQ:WFF)
Raymond Limited (NSE:RAYMOND)
Aksa Akrilik Kimya Sanayii A.S. (BIST:AKSA)
Filatex India Ltd (NSE:FILATEX)
Indo Count Industries Limited (NSE:ICIL)
Business
Companhia Melhoramentos de São Paulo (MSPA3.SA), founded in 1890 and headquartered in São Paulo, Brazil, operates as a diversified holding company with primary activities in editorial publishing; cultivation and management of planted forests through pine and eucalyptus plantations spanning over 81 million square meters; production of high-performance cellulose fibers including thermo ground wood, bleached thermo ground wood, and neolux fibers used in cardboard, tissue papers, printing and writing papers, and specialty papers; and sustainable real estate development via its subsidiary Altea, which focuses on ESG-compliant projects with well-located land assets. The company serves domestic and international markets across these segments, targeting publishers, paper manufacturers, educational institutions, and real estate partners, with operational units in São Paulo, Bragança Paulista (SP), Caieiras (SP), and Camanducaia (MG). Certified as a B Corporation since August 2024, it emphasizes social and environmental impact in its operations under the Biona brand, aligning with sustainable development goals. Recent developments include a strategic partnership and investment boost with W-Cycle in April 2025 to develop compostable food packaging leveraging its cellulose fiber expertise, alongside reported sales growth of 12.6% to BRL 87.26 million for the six months ended June 30, 2025, reflecting operational momentum amid sector challenges.