# Azul S.A. (AZUL)

> Industrials · BR · Reports in BRL

Fundamental indicators from Sponda, adjusted for inflation.

[HTML version](https://sponda.capital/en/AZUL/fundamentals)

## Annual figures

| Year | Revenue (M) | Net Inc. (M) | FCF (M) | Debt (M) | Equity (M) |
| --- | --- | --- | --- | --- | --- |
| 2026 | R$ 10.56B | R$ 4.59B | R$ -482.36M | R$ 21.38B | R$ -5.15B |
| 2025 | R$ 22.48B | R$ 160.24M | R$ -1.64B | R$ 35.84B | R$ -29.02B |
| 2024 | R$ 21.26B | R$ -9.70B | R$ 1.49B | R$ 37.54B | R$ -30.44B |
| 2023 | R$ 21.18B | R$ -2.33B | R$ 2.95B | R$ 26.34B | R$ -21.33B |
| 2022 | R$ 19.05B | R$ -1.12B | R$ 1.36B | R$ 23.97B | R$ -19.01B |
| 2021 | R$ 12.60B | R$ -5.32B | R$ -1.21B | R$ 24.91B | R$ -18.33B |
| 2020 | R$ 7.99B | R$ -14.78B | R$ 824.22M | R$ 19.88B | R$ -14.15B |
| 2019 | R$ 16.63B | R$ -3.48B | R$ 1.70B | R$ 15.62B | R$ -3.52B |
| 2018 | R$ 13.73B | R$ -963.76M | R$ 1.03B | R$ 11.68B | R$ -1.15B |
| 2017 | R$ 12.23B | R$ 815.07M | R$ -462.40M | R$ 9.92B | R$ 2.83B |
| 2016 | R$ 10.80B | R$ -204.56M | R$ -537.30M | R$ 4.03B | R$ 1.00B |
| 2015 | R$ 5.69B | R$ -1.24B | R$ -1.84B | R$ 5.14B | R$ -392.17M |
| 2014 | R$ 11.03B | R$ -49.69M | R$ -286.17M | R$ 3.26B | R$ 416.50M |
| 2013 | R$ 10.61B | R$ 41.97M | R$ 492.86M | R$ 3.03B | R$ 476.31M |
| 2012 | R$ 1.30B | R$ -5.50M | R$ -251.04M | N/A | N/A |

Columns not available in this view: annualPriceMultiples, dividends. They require live market data and are shown on the HTML page instead.

## Leverage and liquidity

| Indicator | Value |
| --- | --- |
| Gross Debt / Eq | -4.15 |
| Liabilities / Eq | -6.97 |
| Current Ratio | 0.42 |

## Debt coverage

| Indicator | Value |
| --- | --- |
| Gross Debt / FCF | 37.98 |

## Other views

- [Metrics](https://sponda.capital/en/AZUL.md)
- [Charts](https://sponda.capital/en/AZUL/charts.md)
- [Compare](https://sponda.capital/en/AZUL/compare.md)
- [Indicator definitions](https://sponda.capital/en/screener.md)

Data as of 2026-08-27.