To the full analysis
Azul stock: growth
AZULAzul reported $3.85B in revenue for fiscal 2025, up 10.8% on the prior year, up 30.4% a year on average over up to five years.
Daily figure as of 13 Nov 2026
Revenue (Annual rate)
23.9%
per year from 2010 to 2025, per share 21.4%
Earnings (Annual rate)
no data
Free cash flow (Annual rate)
no data
Growth per year by period
What reaches shareholders is growth per share: buybacks lift it, new shares dilute it.
| since 2020 | since 2015 | since 2010 | |
|---|---|---|---|
| Revenue | 30.4% | 13.2% | 23.9% |
| Revenue per share | 23.7% | 9.8% | 21.4% |
| Earnings | no data | no data | no data |
| Earnings per share | no data | no data | no data |
| Free cash flow | no data | no data | no data |
| Free cash flow per share | no data | no data | no data |
Fiscal years at a glance
How revenue and earnings grow
- Revenue
- Earnings
- Free cash flow
Figures as a table
| Year | Revenue | Earnings | Free cash flow |
|---|---|---|---|
| 2010 | $155.09M | −$17.37M | −$67M |
| 2011 | $306.44M | −$18.77M | −$99.99M |
| 2012 | $483.78M | −$30.42M | −$80.54M |
| 2013 | $931.86M | $3.69M | $43.29M |
| 2014 | $1.03B | −$11.58M | −$26.75M |
| 2015 | $1.11B | −$191.37M | −$283.29M |
| 2016 | $1.19B | −$22.49M | −$59.08M |
| 2017 | $1.37B | $75.58M | $56.83M |
| 2018 | $1.61B | −$113.18M | $120.79M |
| 2019 | $2.04B | −$427.83M | $207.71M |
| 2020 | $1.02B | −$1.93B | $112.72M |
| 2021 | $1.78B | −$750.09M | −$166.44M |
| 2022 | $2.84B | −$128.61M | $210.93M |
| 2023 | $3.3B | −$423.8M | $469.36M |
| 2024 | $3.48B | −$1.63B | $272.07M |
| 2025 | $3.85B | $22.23M | −$249.75M |
Revenue by segment
How Azul S.A. makes its money and how that has shifted. Names are as the company reports them.
- Passenger revenue92%
- Cargo transport and other revenue8%
Figures as a table
| 2021 | 2022 | 2023 | 2024 | 2025 | Share 2025 | |
|---|---|---|---|---|---|---|
| Passenger revenue | $1.62B | $2.67B | $3.07B | $3.23B | $3.56B | 92.4% |
| Cargo transport and other revenue | $231.64M | $269.47M | $264.79M | $268.17M | $317.42M | 8.2% |
| Total revenue | $1.78B | $2.84B | $3.3B | $3.48B | $3.85B | 100% |
Revenue by region
Where Azul S.A. generates its revenue.
- Country of domicile82%
- Foreign countries18%
Figures as a table
| 2020 | 2021 | 2022 | Share 2022 | |
|---|---|---|---|---|
| Country of domicile | $847.31M | $1.58B | $2.32B | 81.6% |
| Foreign countries | $175.34M | $200.51M | $522.51M | 18.4% |
| Total revenue | $1.02B | $1.78B | $2.84B | 100% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = R$5.6169)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral since 10 Nov 2026, previously Weak
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.