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MARKETS / NASDAQ / AFYA
NASDAQ · SERVICES-EDUCATIONAL SERVICES · LARGE CAP

Afya Ltd. AFYA

9 fiscal years on record · BRL · FY2025 reported · SEC filings only
BRL 3.7B
▲ 11.9% YoY
BRL 752.5M
▲ 19.2% YoY
BRL 1.4B
▲ 5.4% YoY
In brief

What this company does

It is a medical education and technology company in Brazil that provides education and services to physicians from medical school enrollment through residency preparation, graduate and specialization programs and continuing medical education, and throughout their clinical practice. As of December 31, 2025, it had 86,025 enrolled students. Its headquarters and most of its shared services operations are located in Belo Horizonte, in the State of Minas Gerais, while its content creation and sales team are located in São Paulo, in the State of São Paulo. It operates its business through three segments: Undergraduate, Continuing Education and Medical Practice Solutions.

Written from the business description in Afya Ltd's annual report to the U.S. Securities and Exchange Commission, filed 31 March 2026. Every sentence was checked against that document before publication.

Growth
BRL 3.7B
Revenue, FY2025 · full 9-year series below
Revenue BRL B Net income BRL B
FY2025 · Revenue 3.7 · Net income 0.8
2B201720182019202020212022202320242025
Compound annual growth
+16.7%
+25.2%
+26.3%
+20.8%
+26.0%
+95.2%
+62.4%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +25.2% a year over five years — but profit grew slower: net income at +20.8%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
21 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 32.8% · Net 20.8%
10%20%30%201720182019202020212022202320242025
ROE
FY2025 · ROE 16.5%
5%10%15%201720182019202020212022202320242025

Each BRL of equity produced 16 cents of profit this year.

Cash & shareholders
BRL 146.8M
returned in FY2025 · dividends + net buybacks
Free cash flow BRL B
FY2025 · FCF 1.4
0.5B1.0B201720182019202020212022202320242025
Net buybacks BRL M Dividends BRL M
FY2025 · Dividends 146.8 · Net buybacks —
50M100M201720182019202020212022202320242025

BRL 146.8M in dividends — 20% of the year's profit went back to shareholders.

Total assetsBRL 9.4B
EquityBRL 4.9B
CashBRL 1.1B
Current ratio2.20×

Equity funds 52% of total assets.

The 9-year record
9 fiscal years
Every figure from documents filed with the SEC · BRL

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020201920182017
Revenue BRL B3.73.32.92.31.71.20.80.30.2
Operating income BRL B1.21.00.80.70.40.40.20.10.0
EBITDA BRL B·········
Income tax BRL B·0.00.00.00.00.00.00.00.0
Net income BRL B0.80.60.40.40.20.30.20.10.0
Free cash flow BRL B1.41.30.90.70.50.30.20.10.0
EPS, diluted BRL 8.246.934.274.122.373.122.021.811.41
Dividend / sh BRL ·········
Payout %20355843476
ROE %16.516.011.412.27.812.112.017.2·
Shares out B0.000.000.000.000.00····

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures · 1 divergences in 43 reconciliationsAUDITED

Reconciled in 8 of 19 fiscal years. 1 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 52 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures1 divergent
ActivityServices-Educational Services
Listed onNASDAQ
Incorporated inoutside the United States — SEC code E9
Fiscal year endsDecember 31
Data on record since2017

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