| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 92 | 8.1x | 17.8x | Top tier | |
Growth | 72 | 8.4% | 7.1% | Top tier | |
Quality | 89 | 13.5% | 4.5% | Top tier | |
Safety | 69 | 1.4x | 2.6x | Top tier | |
Capital Return | 98 | 52.93% | 2.12% | Top tier | |
Momentum | 44 | -7.7% | 2.9% | Around median | |
Sentiment | 34 | 4 | 3 | Bottom tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Afya Limited operates through an integrated ecosystem of medical education and professional solutions in Brazil, generating revenue from three main segments: Undergraduate Education, Continuing Education, and Medical Practice Solutions. In the first half of fiscal year 2026, the Undergraduate Education segment generated revenue of BRL 1.762 billion, 85% of which came from medical programs and 93% from health-related programs, while Continuing Education revenue reached BRL 144 million and Medical Practice Solutions revenue reached BRL 85 million. The medical student base exceeded 26 thousand students, operational medical seats reached 3,768, and 295 thousand users used Afya ecosystem products and services by the end of Q2 fiscal year 2026.
In Q2 fiscal year 2026, revenue increased 6% year over year to BRL 972 million, net income rose 14% to BRL 201 million, and basic earnings per share increased 17% to BRL 2.22. Adjusted EBITDA reached BRL 470 million, up 1%, with a margin of 41.8%, below the comparable period due to investments in Continuing Education and Medical Practice Solutions. For the first half of fiscal year 2026, revenue reached BRL 1.985 billion, up 7%, net income reached BRL 463 million, up 7%, and adjusted EBITDA reached BRL 918 million with a margin of 46.2%, down 190 basis points year over year.
The annual statements show a sustained growth trajectory; revenue increased from $1.7 billion in fiscal year 2021 to $3.7 billion in fiscal year 2025, while net income rose from $242.3 million to $768.4 million, and earnings per share increased from 2.37 to 8.24 over the same period. In fiscal year 2025, gross profit reached $2.4 billion on revenue of $3.7 billion, compared with gross profit of $2.1 billion and revenue of $3.3 billion in fiscal year 2024. Afya's model combines core medical education revenue with postgraduate training products and tools such as Afya iClinic and Whitebook for physicians and students.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus rates AFYA stock as Neutral, with an average price target of $16.75, within a narrow range of $16 to $18, reflecting limited dispersion among analyst estimates. The average target is slightly above the upper end of the 52-week range of $16.498, while the lower end of that range is $13; therefore, the Neutral consensus alone does not provide strong evidence of a broad rerating. No price-to-earnings ratio is available in the provided data, so the stock's valuation here is based on the target range, the 52-week range, and the trajectory of revenue and earnings growth versus margin contraction.
Figures in the text are as of 2026-09-02; the live price is shown at the top of the page.
Afya generates revenue from Undergraduate Education, Continuing Education, and Medical Practice Solutions. In the first half of fiscal year 2026, Undergraduate Education revenue reached BRL 1.762 billion, compared with BRL 144 million for Continuing Education and BRL 85 million for Medical Practice Solutions. Medical programs accounted for 85% of Undergraduate Education revenue and health-related programs for 93%, making core medical education the company's largest financial driver.
Revenue in Q2 fiscal year 2026 reached approximately BRL 972 million, up 6% year over year. Net income increased 14% to BRL 201 million, and basic earnings per share rose 17% to BRL 2.22. Adjusted EBITDA increased 1% to BRL 470 million and recorded a margin of 41.8%, as investments continued to pressure operating profitability.
The chief financial officer said on the August 13, 2026 call that competing artificial intelligence tools were pressuring the number of paying users in Whitebook. Afya responded by reducing the price and adding new functionality to Whitebook, while also investing in artificial intelligence features and clinical decision support within Afya iClinic. In the first half of fiscal year 2026, paying users of clinical management solutions grew 20% to more than 50 thousand, but this growth did not fully offset weakness in Whitebook.
Management is targeting adjusted EBITDA of between BRL 1.7 billion and BRL 1.8 billion in fiscal year 2026 and did not revise this range during the August 13, 2026 call. It also expects capital expenditures of between BRL 340 million and BRL 380 million, with spending accelerating during the second half of fiscal year 2026 and a greater focus on intangible assets. In Continuing Education, management expects growth near the high-single-digit range during the second half of fiscal year 2026.
Cash flow from operating activities reached BRL 806 million, and free cash flow to equity reached BRL 423 million in the first half of fiscal year 2026. The company returned BRL 448 million to shareholders, including BRL 307 million in dividends in Q2 fiscal year 2026, in addition to share repurchases. Of a four-million-share repurchase program, Afya had purchased 2.6 million shares and retained capacity to purchase 1.4 million shares through the end of fiscal year 2026.
Management explained on August 13, 2026 that the court ruling restored to institutions the seats that had been blocked under previous EnMed results. However, Afya was unable to include all these seats in the ProUni and FIES cycles in time and therefore expected some additional seats to remain vacant, with no positive or negative effect on second-half fiscal year 2026 results. Management added that the new EnMed results expected in December 2026 will be taken into account in the fiscal year 2027 admissions cycle.
