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Financials

CIELO S.A. - INSTITUIÇÃO DE PAGAMENTO

CIEL3 — CIELO S.A. - INSTITUIÇÃO DE PAGAMENTO

CNPJ 01.027.058/0001-91 · listed classes: CIEL3 · CVM code 21733

Empresa prestadora de serviços de adquirência e meios de pagamento.As filed by the company in its registration form (FCA), reference 2026-01-01 · CVM sector: Intermediação Financeira

1995founded
Barueri · SPheadquarters
Privadocontrol
Banco Bradesco S.A.share registrar
KPMG Auditores Independentes Ltda.auditor
cielo.com.brinvestor site
R$ 140.1 mavg. daily traded value (63 sessions)

Verdict

Net margin 20.8%; ROIC 8.6%; debt 2.3x EBITDA; 2025 data, no relevant restatement.

Confidence flag: Incomplete or flagged snapshot

Data for fiscal year 2025, received by the CVM on 2026-01-26; 3 of the 5 core figures published; last restatement recorded in 2021.

Does the company make money?

Is it sound or indebted?

Is the share expensive or cheap relative to the sector and its own history?

Descriptive: number, numeric band and comparison with the sector, the company's own history and the whole universe. Not investment advice. JSON · how the verdict works

Follow CIEL3: get an e-mail when profit turns into loss, debt or margin change band, or the statements are restated. That is all, and you can cancel in one click. See every event already recorded for CIEL3.

Quote

R$ 5.83close of 2024-08-26 · B3 (COTAHIST), updated nightly — the price the API, the MCP and the dump serve
15-minute delayed quote, shown by TradingView — display only: it never enters our API, MCP or dump
Close, weekly, 5 years · return -24.8% (-5.5% a year) · not split-adjustedR$ 5.83 2024-08-26
high 2019-12-13: R$ 8.78low 2022-01-14: R$ 2.022024-08-26: R$ 5.83
2019low R$ 2.02 · high R$ 8.782024

Return by window

1 month3 months1 year2 years5 years10 years
Price+1.2%+4.9%+56.7%-1.5%-19.3%-86.1%
With dividends reinvested+1.2%+4.9%+66.7%+11.1%+2.1%-77.8%
Real, net of inflation (IPCA to 08/2024)+1.2%+4.1%+59.9%+1.9%-23.4%-87.3%
R$ 1,000 would be worthR$ 1,012R$ 1,049R$ 1,667R$ 1,111R$ 1,021R$ 222

Closing prices from the base up to 2024-08-26. The starting price is adjusted by the corporate actions checked against the price (the small mark says how many); a jump they do not explain leaves the window blank. Reinvestment buys more shares at the close of the ex-date, with no tax or cost; only the main ticker class. The real line divides the reinvested return by the IPCA accumulated in the window (Banco Central series 433, monthly, edge months pro rata by days); the latest month is only published around the 10th of the following month.

Corporate actions

last day with rightseventmultipliercheck
2017-04-12bonus issue inferred1.20× sharesnot checked
2014-03-31stock split inferred2.00× shareschecked against the price move
2011-05-27reverse split0.33× shareschecked against the price move

Why the price chart jumps: prices are not split-adjusted. Inferred means detected from the share count and the price, not announced in the exchange file.

Valuation

Today

R$ 15.8 bnmarket value
close of 2024-08-26 × sharesprice × shares outstanding
R$ 23.0 bnenterprise value
+ net debt 2025market value + net debt
R$ 0.70EPS 2025
profit per sharenet income for the year ÷ shares
R$ 4.12BVPS 2025
book value per shareshareholders' equity ÷ shares
8.8P/E 12m
to 2T26today's market value ÷ net income of the last 12 months (built by identity from the quarterly filings)
1.35P/B 2T26
latest quarterly balancetoday's market value ÷ equity to controlling shareholders at quarter end
17.1%net margin 12m
to 2T26net income ÷ net revenue, both over the last 12 months
2.9P/FCO 2025
FCO R$ 5.5 bnmarket value ÷ operating cash flow
3.2P/FCF 2025
FCF R$ 4.9 bnmarket value ÷ (operating cash flow + capex)
2.70 bnshares outstandinglatest public count, treasury excluded

Snapshot: today's close over the latest public share count. Cards marked 12m use the last four quarterly filings; the others use the 2025 annual filing. The multiples below are point-in-time: priced on the day the filing became public.

At the filing date (point-in-time)

6.5P/E 2023
price of 2024-02-05 · sector 13.4 · 4 cos. · 2th of 5price ÷ earnings per share for the year
1.1P/B 2023
price of 2024-02-05 · sector 1.3 · 4 cos. · 3th of 5price ÷ book value per share
4.5EV/EBITDA 2023
price of 2024-02-05 · sector 4.5 · 4 cos. · 3th of 5enterprise value on the filing date ÷ EBITDA for the year (other sites use trailing 12 months and today's price)
3.3%FCF yield 2023
price of 2024-02-05 · sector 9.8% · 4 cos. · 4th of 5(operating cash flow + capex) ÷ market value
18.5%ROE 2025
sector 18.4% · 7 cos. · 4th of 8net income to controlling ÷ average equity
8.6%ROIC 2025
sector 24.9% · 5 cos. · 4th of 6EBIT × (1 − effective tax rate) ÷ average invested capital (gross debt + total equity − cash − investments), goodwill included — /metodologia/roic
P/E, P/B and EV/EBITDA use the price of 2024-02-05 (R$ 5.03), the first one after the 2023 filing became public on 2024-02-05 — point-in-time, not the 31 December price.

By theme, fiscal year 2025

Valuation

P/Receita todaymarket value ÷ net revenue for the year1.44×
EV/Receita todayenterprise value ÷ net revenue2.10×
P/EBITDA todaymarket value ÷ EBITDA4.91×
P/EBIT todaymarket value ÷ EBIT6.84×
EV/EBIT todayenterprise value ÷ EBIT10.01×
Earning yield todaynet income ÷ market value (the inverse of P/E)12.0%

Debt and liquidity

Dívida líquida/PLnet debt ÷ shareholders' equity0.52×
Dívida bruta/PLshort- and long-term borrowings ÷ equity0.72×
Dívida líquida/EBITDAnet debt ÷ EBITDA for the year2.27×
PL/Ativosequity ÷ total assets0.12×
Passivos/Ativos(total assets − equity) ÷ total assets0.88×
Liquidez correntecurrent assets ÷ current liabilities1.16×

Efficiency

Margem brutagross profit ÷ net revenue39.6%
Margem EBITDAEBITDA ÷ net revenue29.3%
Margem EBITEBIT ÷ net revenue21.0%
Margem líquidanet income ÷ net revenue20.8%

Profitability

ROEnet income to controlling ÷ average equity18.5%
ROICEBIT × (1 − effective tax rate) ÷ average invested capital (gross debt + total equity − cash − investments), goodwill included8.6%
ROAnet income ÷ total assets2.0%
Giro do ativonet revenue ÷ total assets0.09×

Growth

Receita, 1 anorevenue this year ÷ previous year − 16.3%
Receita, CAGR 5 anoscompound annual growth of revenue over 5 years-0.4%
EBITDA, CAGR 5 anoscompound annual growth of EBITDA over 5 years (positive at both ends only)23.9%

Standardized accounts and published indicators of the fiscal year; items marked today divide today's market value or enterprise value by an account of that year.

Indicators, year by year

Four indicators as charts and the full table below. A hollow point carries a caveat; a gap is a year without the figure — we never draw a line across a hole. In the table, the arrow opens the path from the figure down to the line in the regulator's file; a cell with ! carries a caveat; a dashed dash is a suppressed figure — hover to see why. Nothing is hidden.

Fact checklist 5 of 9

Nine objective checks with the threshold written in each line and the figure behind it. Descriptive, not a recommendation; the thresholds are ours and are declared.

ROE18.5% 2025
2010: 155.1% — pl_final_sem_media2011: 139.8%2012: 125.6%2013: 95.5%2014: 84.4%2015: 64.8%2016: 50.8%2017: 38.7%2018: 29.2%2019: 14.0%2020: -4.4%2021: -4.8%2022: 13.4%2023: 18.0%2024: 13.4%2025: 18.5%
20102025
ROIC8.6% 2025
2010: 167.6% — capital_final_sem_media2011: 129.8%2012: 69.6%2013: 45.1%2014: 35.1%2015: 19.5%2016: 14.7%2017: 15.3%2018: 13.9%2019: 6.8%2020: -0.5% — aliq_fallback_342021: 0.3% — aliq_travada_452022: 12.3%2023: 12.9%2024: 7.7%2025: 8.6%
20102025
Net margin20.8% 2025
2010: 45.9%2011: 43.2%2012: 42.8%2013: 39.8%2014: 41.8%2015: 32.8%2016: 34.0%2017: 36.8%2018: 30.5%2019: 15.8%2020: -3.1%2021: -2.7%2022: 16.0%2023: 23.3%2024: 17.2%2025: 20.8%
20102025
Point-in-time P/E6.5x 2023
2011: 5.6x — acoes_do_fre_sem_tesouraria;acoes_ajustadas_por_evento;acoes_defasadas2012: 13.3x — acoes_do_fre_sem_tesouraria;acoes_defasadas2013: 18.6x — acoes_do_fre_sem_tesouraria;acoes_defasadas2014: 19.1x — acoes_do_fre_sem_tesouraria;acoes_defasadas2015: 14.9x — acoes_do_fre_sem_tesouraria;acoes_defasadas2016: 15.1x — acoes_do_fre_sem_tesouraria;acoes_defasadas2017: 16.1x — acoes_do_fre_sem_tesouraria;acoes_defasadas2018: 8.9x — acoes_do_fre_sem_tesouraria;acoes_defasadas2019: 11.1x — acoes_do_fre_sem_tesouraria;acoes_defasadas2020: -20.0x — pl_negativo2021: -14.2x — pl_negativo2022: 10.1x2023: 6.5x
20102025

Full table

indicator2010201120122013201420152016201720182019202020212022202320242025sector
ROE ⟶155.1%!139.8%125.6%95.5%84.4%64.8%50.8%38.7%29.2%14.0%-4.4%-4.8%13.4%18.0%13.4%18.5%18.4%
ROIC ⟶167.6%!129.8%69.6%45.1%35.1%19.5%14.7%15.3%13.9%6.8%-0.5%!0.3%!12.3%12.9%7.7%8.6%24.9%
ROA ⟶48.5%!41.0%30.7%23.0%20.2%15.0%13.8%7.2%4.2%2.0%-0.4%-0.3%1.6%2.3%1.6%2.0%1.5%
Gross margin ⟶70.4%66.1%65.9%62.1%60.5%52.3%51.3%50.2%46.6%36.1%27.8%29.1%41.4%47.1%42.8%39.6%87.1%
EBIT margin ⟶59.4%51.1%50.9%47.3%44.2%38.9%37.1%37.3%31.7%17.3%-1.3%0.9%25.1%33.1%19.5%21.0%44.8%
Net margin ⟶45.9%43.2%42.8%39.8%41.8%32.8%34.0%36.8%30.5%15.8%-3.1%-2.7%16.0%23.3%17.2%20.8%8.9%
Revenue growth (1y) ⟶—5.4%29.0%25.0%14.7%44.0%10.6%-5.7%0.7%-2.9%-1.5%4.5%-8.5%-0.9%-2.9%6.3%16.8%
Revenue growth (5y CAGR) ⟶—————22.7%23.9%16.6%11.7%8.0%0.1%-1.0%-1.6%-1.9%-1.9%-0.4%21.0%
Net debt/EBITDA ⟶-0.10x-0.06x0.55x0.58x0.87x2.30x1.47x0.61x1.08x1.98x4.73x0.59x1.30x1.46x2.16x2.27x-0.02x
Current ratio ⟶1.26x1.19x1.37x1.43x1.33x1.57x1.75x1.15x1.16x1.13x1.13x1.16x1.15x1.15x1.06x1.16x1.80x

In reais, year by year

The three statements behind the ratios — income statement, balance sheet and cash flow — in the standardized lines, consolidated as filed (or parent-only when that is what the company files). EBITDA and net debt follow the published methodology; gross debt, cash and investments and free cash flow are sums the line names spell out.

line20102011201220132014201520162017201820192020202120222023202420252T26TTM
Income statement
Net revenue (R$ bn)4.04.25.46.77.711.112.311.611.711.311.211.710.710.610.310.92.410.4
Cost of goods and services (R$ bn)-1.2-1.4-1.9-2.5-3.1-5.3-6.0-5.8-6.2-7.3-8.1-8.3-6.3-5.6-5.9-6.6-1.7-6.9
Gross profit (R$ bn)2.82.83.64.24.75.86.35.85.44.13.13.44.45.04.44.30.73.6
EBITDA (R$ bn)2.62.43.13.63.85.25.55.34.63.01.11.23.74.42.93.2——
Depreciation and amortization (R$ bn)0.20.20.30.40.40.91.00.90.91.11.21.11.00.90.90.9——
EBIT (operating result) (R$ bn)2.42.22.83.23.44.34.64.33.72.0-0.10.12.73.52.02.3-0.21.2
Pre-tax profit (R$ bn)2.72.73.54.04.85.46.06.14.92.5-0.00.02.33.42.33.10.42.8
Income taxes (R$ bn)-0.9-0.9-1.2-1.4-1.6-1.8-1.8-1.8-1.4-0.7-0.3-0.3-0.6-0.9-0.5-0.8-0.1-0.7
Net income (R$ bn)1.81.82.32.73.23.74.24.33.61.8-0.3-0.31.72.51.82.30.32.2
Net income (controlling) (R$ bn)1.81.82.32.73.23.54.04.13.31.6-0.5-0.51.42.11.41.90.21.8
Balance sheet
Total assets (R$ bn)3.85.110.013.318.730.030.588.382.693.491.8100.3109.8107.8112.6118.7115.1115.1
Current assets (R$ bn)2.53.46.39.113.712.713.771.966.076.775.586.296.596.8101.8108.3104.9104.9
Current liabilities (R$ bn)2.02.84.66.410.38.17.962.656.868.066.974.283.984.195.893.489.689.6
Gross debt (short + long term) (R$ bn)0.00.22.12.57.313.310.89.27.99.28.96.36.67.77.610.110.110.1
Cash and investments (R$ bn)0.30.30.40.44.01.22.76.02.93.33.75.61.91.31.42.82.32.3
Net debt (R$ bn)-0.3-0.11.72.13.312.08.13.25.06.05.20.74.86.56.27.3——
Shareholders' equity (R$ bn)1.21.42.33.34.310.212.915.414.915.114.113.213.815.012.014.014.214.2
Cash flow
Operating cash flow (R$ bn)1.51.81.32.01.82.85.15.53.62.02.21.8-2.11.04.75.5——
Capital expenditures (R$ bn)-0.3-0.3-0.1-0.1-0.7-8.6-0.5-0.5-0.6-1.2-0.7-0.7-0.7-0.5-0.7-0.6——
Free cash flow (FCO + capex) (R$ bn)1.21.51.21.91.2-5.74.65.02.90.81.41.1-2.80.54.04.9——

The two right-hand columns come from the quarterly filing (ITR): the latest quarter alone and the last 12 months (TTM) built by the same identity as the TTM P/E. EBITDA and net debt have no quarterly series here.

The current year, quarter by quarter

As the company filed it in its interim report. The fourth quarter does not exist on its own in that filing — the closed year comes in the annual one, and we do not derive a Q4, so that a figure we computed never sits beside the figures the company reported. Filed on is the date the report became public, and the price is taken from it.

quarterrevenue (R$ m)profit (R$ m)net marginP/E TTMP/Bfiled on
2024T12,563.2578.822.6%7.01.242024-04-25
2024T22,479.1460.118.6%8.51.262024-08-01
2024T3!2,523.9244.49.7%——2024-11-14
2025T1!2,591.9464.717.9%——2025-05-15
2025T2!2,714.8347.712.8%——2025-08-14
2025T3!2,803.6416.914.9%——2025-11-14
2026T1!2,441.7384.815.8%——2026-05-15
2026T2!2,365.5315.913.4%——2026-08-14

Full series, every quarter: GET /empresas/CIEL3/trimestres

Dividends

No ex-date or payment scheduled in the base (exchange announcements through 2026-09-21 · filings to the regulator through 2026-09-18).

The latest dividend by CIEL3 was a JCP of R$ 0.1517 per share (record date 2024-03-15). In the last 12 months: 0 payments adding up to R$ 0.0000 per share. Average yield of the last 5 full years: 5.3%.

typerecord dateex-datepaymentper share
JCP2019-12-302020-01-02—R$ 0.0210
JCP2019-11-052019-11-06—R$ 0.0155
JCP2019-09-242019-09-25—R$ 0.0288
JCP2019-09-122019-09-13—R$ 0.0007
dividend2019-09-122019-09-13—R$ 0.0027
JCP2019-06-272019-06-28—R$ 0.0494
dividend2019-06-112019-06-12—R$ 0.0800
JCP2019-03-282019-03-29—R$ 0.0545
dividend2019-02-222019-02-25—R$ 0.2614

Ex-date is the first trading session after the record date, from our own price history. Payment date comes from the exchange file; CVM marks a date taken from the filing to the regulator. Only the main ticker class.

Record dates in the last 5 years, by month: JanFebMar1AprMay2JunJulAug2SepOctNov3Dec3

Per year

yearper sharepaymentsyield
2024R$ 0.151712.6%
2023R$ 0.283546.0%
2022R$ 0.251444.8%
2021R$ 0.175657.7%
2020R$ 0.064921.6%
2019R$ 0.514096.1%
2018R$ 1.4182616.0%
2017R$ 0.882853.8%
2016R$ 0.558542.0%
2015R$ 0.770242.3%

Yield per year = the year's dividends over the close of its last session; the current year is partial.

Shareholders and free float

0.00%free floatshares outstanding held by the market, as filed in the FRE
4shareholders
0 individuals · 4 companies · 0 institutionalcount at the last shareholders meeting, from the FRE
Quixaba Empreendimentos e Participações Ltda +2controlling shareholder
as declared in the FREshareholders the company marks as controlling
80% ONtag along (minimum)
no listing segment on fileminimum guaranteed by the listing segment or by law; the bylaws may grant more
shareholdertype% ON% PN% total
Quixaba Empreendimentos e Participações Ltda ctrl agreementPJ30.61%0.00%30.61%
BB Elo Cartões Participações S.A. ctrl agreementPJ29.17%0.00%29.17%
LIVELO S.A. ctrlPJ20.52%0.00%20.52%
ELO PARTICIPAÇÕES LTDAPJ19.70%0.00%19.70%
Others (market)———0.00%
Treasury shares———0.00%

Direct holdings from the reference form (FRE) filed on 2026-09-17, version 4. The chain of control (who owns the holding) is not reproduced here. Names of individuals appear as in the public filing.

Filings and notices

filedcategorysubjectdocument
2026-09-17Comunicado ao Mercado · Outros Comunicados Não Considerados Fatos RelevantesComunicado ao Mercado: Divulgação da Razão de Permutabilidade da 10ª Emissão de Debênturesopen
2026-09-15Documentos de Oferta de Distribuição Pública · Aviso ao MercadoAviso ao Mercado da Oferta da 10ª Emissão de Debêntures Simples, Não Conversíveis em Açõesopen
2026-09-15Fato Relevante10ª Emissão de Debêntures Simples, Não Conversíveis em Açõesopen
2026-09-15Escrituras e aditamentos de debênturesEscritura da 10ª (décima) Emissão de Debêntures Simples, Não Conversíveis em Açõesopen
2026-09-15Reunião da Administração · Conselho de AdministraçãoEmissão de Valores Mobiliáriosopen
2026-09-15Reunião da Administração · Conselho de AdministraçãoAnálise e deliberação acerca da consignação da renúncia do Sr. Marcelo Souza Ramos e da eleição do Sr. Danilo Luís Damasceno l Comitê de Riscosopen
2026-09-11Comunicado ao Mercado · Outros Comunicados Não Considerados Fatos RelevantesVarejo cai 2,0% em agosto, tem pior resultado para o mês desde 2020 e completa 15 meses de retraçãoopen
2026-09-10Valores Mobiliários negociados e detidos (art. 11 da Instr. CVM nº 358) · Posição Consolidada—open
2026-09-09Comunicado ao Mercado · Apresentações a analistas/agentes do mercadoFitch Afirma Ratings 'AAA(bra)' da Cielo Perspectiva Estávelopen
2026-08-14Reunião da Administração · Conselho de AdministraçãoDeliberação acerca das demonstrações contábeis referentes ao 2º trimestre de 2026, do relatório do conglomerado prudencial referente ao 1º semestre de 2026 e do estudo técnico sobropen

The last filings this company sent to the CVM outside its financial statements, newest first, from the regulator's own IPE index. The subject line is the company's own free text. We do not summarise or classify these documents — read the original.

Piotroski F-Score 7/9 (2025) — what each criterion means.

Restated filings for this company

The regulator overwrites the old version; we keep both. Figures in R$ millions: first filing on the left, restatement on the right.

fiscal yearaccountfirst filingrestated
2010DMPL 5.04-601.9-1,497.1
2010DMPL 5.05935.71,830.9
2019DFC_MI 6.011,989.42,474.1
2012BPP 2.014,627.54,491.9
2012BPP 2.032,286.12,413.2
2012DMPL 5.072,286.12,413.2
2012DMPL 5.031,424.61,540.1
2014DFC_MI 6.011,834.61,881.4

Every restatement of this company, year by year

This company appears in

Compare

Side by side, with each figure's caveat and how often each company restated its filings.

CIEL3 × ITUB4 · CIEL3 × BBDC4 · CIEL3 × BPAC11 · CIEL3 × SANB11 · CIEL3 × BBAS3 · CIEL3 × ITSA4

compare with the sector: ITUB4 × BBDC4 × B3SA3

Other companies in Financials

33 more with a page, same CVM sector — a classification of the regulator's, not ours.

Take this into your code

Everything on this page is also JSON: GET /empresas/CIEL3/indicadores. WEGE3 is open for testing without a key; for the rest, create a free key (200 calls/day, no card).

Price coverage: 3,631 sessions, 2010-01-04 → 2024-08-26 · methodology · how we verify

Sources: CVM (open data, ODbL) and B3 (COTAHIST). Not affiliated with B3 or the CVM. Not investment advice.

Numbers on this page are live. Data version 2026-09-27-reapresentacao-agreg · page generated 2026-09-27 11:33 UTC. If this does not match /saude, you are reading a cached copy.