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Companhia Melhoramentos de São Paulo

Companhia Melhoramentos de São Paulo

MSPA4.SA
Companhia Melhoramentos de São PauloBR flagB3 S.A.
41.00
BRL
- -
- -
262.36MMarket Cap
Companhia Melhoramentos de São Paulo
MSPA4.SA
(B3 S.A.)

Recent

price

41.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
13.7
16.91
15.3
20.9
42.03
17.52
82.14
20.19
18.9
16.71
13.8
19.79
31.38
27.52
25.47
27.65
26.55
Revenue per Share
-3.51
-0.61
0.51
-1.07
5.23
-12.78
38.03
5.24
0.64
-5.02
-7.53
-4.46
0.24
1.23
0.52
-5.11
-5.38
Basic EPS, GAAP
-1.97
9.05
-8.39
-10.28
2.89
-9.11
9.77
14.21
8.14
-8.45
-7.44
-3.09
6.35
6.68
-1.56
8.03
-0.67
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
1.19
4.96
4.53
0.35
- -
- -
- -
0.06
0.29
0.12
- -
Dividend per Share
-7.43
-7.93
-7.52
-8.38
0.85
-6.3
5.64
21.12
21.1
20.34
12.88
21.1
30.1
24
24
24
22.96
Book Value per Share
73.2
112.65
130.08
128.91
128
111.22
139.83
128.18
126.28
121.25
113.6
112.83
128.89
130.41
131.48
126.55
119.02
Tangible Book Value per Share
7
7
6
6
6
6
6
7
7
7
7
7
6
6
6
6
7
Basic Weighted Avg Shares
101
124
98
134
269
112
526
147
138
122
101
144
201
176
163
177
178
Sales/Revenue/Turnover
-20.15
1.22
14.55
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
-20.26
Operating Margin (%)
5
5
6
8
11
14
14
14
14
14
19
26
27
33
16
26
27
Depreciation Expense
-26
-4
3
-7
33
-82
244
38
5
-37
-55
-33
2
8
3
-33
-36
Net Income, GAAP
- -
- -
20.26
- -
7.44
- -
5.38
- -
- -
- -
- -
- -
- -
58.7
81.85
- -
- -
Effective Tax Rate (%)
-25.59
-3.58
3.31
-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
-20.26
Profit Margin (%)
13
5
- -
11
91
33
175
162
121
69
34
59
30
47
27
12
-14
Working Capital
3
1
10
41
41
58
26
8
8
41
71
119
109
118
130
161
152
LT Debt
539
828
833
826
820
712
896
933
920
883
828
824
826
839
847
812
798
Total Equity
- -
- -
1.31
- -
5.94
- -
28.43
- -
- -
- -
- -
- -
- -
-0.14
0.18
- -
- -
Return on Invested Capital (%)
- -
- -
-19.02
- -
117.57
- -
447.54
- -
- -
- -
- -
- -
- -
4.1
1.82
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
40.17
3.05
-24.23
-45.32
-26.27
0.87
4.55
2.15
-21.27
-20.44
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
38
46
60
LT Borrowings
167
160
152
LT Finance Leases
1
1
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
6
6
6
Market Capitalization
268
265
275

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
123
129
123
Cash, Cash Equivalents & STI
37
28
22
Accounts Receivable, Net
32
32
33
Inventories
27
28
25
Total Current Liabilities
111
117
137
Payables & Accruals
- -
- -
- -
ST Debt
38
46
60
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

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

FRC

•

in mil. unless spec.

Year

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

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-1.09
0.13
-1.11
- -
0.52
2025
-1.61
-1.64
-1.37
- -
-5.11
2026
-2.13
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.29
2025
- -
- -
- -
- -
0.12
2026
- -
- -
- -
- -
- -
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Business
Companhia Melhoramentos de São Paulo operates as a diversified holding company primarily engaged in publishing, high-performance cellulose fiber production, planted forest management, and real estate development; it publishes and distributes books through Editora Melhoramentos including children's, educational, and editorial titles such as dictionaries under the Michaelis brand and licensed Disney collections; produces high-yield cellulose fibers from pine and eucalyptus for applications in cardboard, premium board, tissue packaging, and sustainable compostable food containers resistant to grease, moisture, and high temperatures; manages extensive pine and eucalyptus plantations across over 81 million square meters for silviculture while maintaining conservation areas exceeding legal requirements, including the RPPN Parque Levantina reserve of 23 million square meters in Minas Gerais; and develops sustainable real estate projects through subsidiary Altea with a landbank of 152 million square meters in São Paulo and southern Minas Gerais. The company, founded in 1890 and headquartered at Rua Tito 479, Vila Romana, in São Paulo, Brazil, conducts operations principally in Brazil with international publishing reach and fiber exports. Recent developments include the launch of Biona, a new line of innovative sustainable fiber-based packaging; establishment of Altea as a dedicated sustainable real estate developer; deepened investment alliance with W-Cycle Ltd. to expand compostable food packaging solutions; divestiture of its paper business Melhoramentos Papeis to CMPC Participações (now Softys); completion of headquarters restoration into the historic Casa Melhoramentos; attainment of B Corporation certification emphasizing environmental and social impact; and implementation of enhanced governance with independent board members alongside a new corporate strategy and brand positioning.