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    Banks - Regional
Banco Pan S.A.

Banco Pan S.A.

BPAN4.SA
Banco Pan S.A.BR flagB3 S.A.
12.75
BRL
+0.04
- -
7.56BMarket Cap
Banco Pan S.A.
BPAN4.SA
(B3 S.A.)

Recent

price

12.75

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
TTM
FRC
- -
0.21
7.65
4.14
5.3
3.27
3.46
5.14
5.41
4.46
4.79
5.35
6.26
14.2
14.99
16.95
11.98
Revenue per Share
- -
-0.55
0.27
-0.93
-0.28
0.01
0.01
-0.26
0.23
0.21
0.44
0.54
0.64
0.51
0.51
0.56
0.43
Basic EPS, GAAP
- -
-2.31
-9.53
-3.67
-1.14
-1.94
2.18
1.04
0.55
0.36
0.42
0.08
-1.86
4.21
-4.14
-1.31
4.18
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
0.07
0.17
0.21
0.45
0.49
- -
- -
Dividend per Share
- -
4.53
3.83
4.62
4.34
3.73
3.73
3.69
3.73
3.38
3.56
3.44
3.45
9.02
9.02
9.02
6.21
Book Value per Share
- -
0.05
4.97
4.12
3.85
3.67
3.68
3.46
3.66
3.63
4.04
4.3
4.7
9.79
10.44
11.07
7.24
Tangible Book Value per Share
- -
244
244
535
535
929
929
929
929
1,080
1,173
1,214
1,210
658
658
658
954
Basic Weighted Avg Shares
- -
52
1,869
2,215
2,838
3,038
3,213
4,779
5,025
4,816
5,617
6,493
7,579
9,334
9,858
11,146
11,433
Sales/Revenue/Turnover
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
- -
- -
5
20
47
54
55
65
57
52
67
132
103
233
282
282
191
Depreciation Expense
- -
-134
67
-496
-152
8
8
-237
213
222
516
656
775
706
695
772
723
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
16.06
51.51
- -
30.09
30.2
18.55
18.16
2.55
37.9
Effective Tax Rate (%)
- -
-255.86
3.59
-22.4
-5.35
0.26
0.25
-4.96
4.23
4.6
9.18
10.1
10.22
7.56
7.05
6.93
6.32
Profit Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
- -
- -
2,192
5,204
6,825
6,893
6,517
7,066
3,323
2,600
296
1,307
2,009
6,665
5,067
4,981
12,200
LT Debt
155
21
1,227
2,472
2,305
3,635
3,644
3,412
3,556
4,096
4,926
5,317
5,799
7,708
8,111
8,434
7,608
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
-12.06
6.56
-29.09
-6.33
0.27
0.23
-6.89
6.17
6.23
13.18
15.7
18.55
6.66
5.65
6.18
6.79
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Mar'25
Jun'25
Sep'25
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,251
1,251
1,251
Market Capitalization
6,958
7,721
7,423

Working Capital

FRC

•

in mil. unless spec.
Mar'25
Jun'25
Sep'25
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
2,267
2,109
1,254
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.27%
11.82%
3.98%
Free Cash Flow
-317.52%
-572.98%
-68.38%
Net Income, GAAP
-305%
9.18%
11.1%
Sales/Revenue/Turnover
14.63%
14.83%
13.07%
Total Cash Common Dividend
- -
179.74%
913.48%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
2,322
2,456
2,506
3,237
9,858
2024
2,342
2,877
2,810
2,737
11,146
2025
3,315
2,547
2,834
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
0.14
0.1
0.12
- -
0.51
2024
0.12
- -
0.06
- -
0.56
2025
0.05
- -
0.12
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.49
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
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Business
Banco Pan S.A. Banco Pan S.A. is a midsize multiple-service commercial bank in Brazil that provides consumer financing and banking services to individuals in lower to medium income brackets, as well as corporate clients; its core offerings encompass personal loans, payroll deduction loans including consignado for INSS pensioners, public servants and military personnel, FGTS-linked loans, vehicle financing for new motorcycles and used cars, real estate credit, construction financing for developers, credit and debit cards branded Visa or Mastercard, point-of-sale (POS) machines, prepayment services, overdrafts, insurance products, leasing and digital banking platforms. Banco Pan S.A. operates primarily through two segments, consumer finance and banking services, targeting retail customers via marketplaces such as Mosaico and Mobiauto for customized credit and integrated financial solutions; the bank maintains a nationwide presence in Brazil with a digital-first strategy emphasizing strong origination volumes, assertive pricing and partnerships for client engagement. Founded in 1969 and headquartered at Avenida Paulista 1374 in São Paulo, the bank was originally acquired by Grupo Silvio Santos from Banco Real Sul and later transitioned under control of BTG Pactual BTG Pactual S.A. following a 2010 crisis resolution; it lists preferred shares on B3 under ticker BPAN4.SA and competes with peers like Daycoval and BicBanco. Recent developments include BTG Pactual's October 2025 binding offer to acquire the remaining 44.4% stake in Banco Pan S.A. for approximately BRL 5.6 billion at a 30% premium, aiming to fully integrate it as a wholly-owned subsidiary by year-end pending regulatory and shareholder approvals; this follows BTG's prior stake increase and the 2022 acquisition of Mosaico, which expanded marketplaces and issued subscription bonuses (BPAN12) exercisable if BPAN4 shares exceed R$24 for three consecutive sessions; Q3 2025 earnings reflected 9% net income growth, 16% higher credit origination at R$5 billion and efficiency gains despite credit risk pressures.