AFYAAfya Limited

$15.10+6.7% 1Y

Is the business good?

Mixed

The checks split: nothing decisive, though earnings fully cash-backed (1.6×).

1 good, 2 neutral, 1 without data
Profits arrive as cash1.60×derived · Dec 31, 2025

Operating profit is fully backed by cash. Conversion is improving vs a year ago.

Margin direction, 3 yearsStable

Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.

Where ROE comes from8% ROA

Margin-driven, fat margins on slower asset turns. ROE 16% = margin × turnover × leverage.

Unless marked, from derived.

Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.

How good a business is AFYA?

Afya Limited keeps 33% of every revenue dollar as operating profit, against 13% for the median Education & Training Services name.

33%

Operating margin · Education & Training Services median 13% · fiscal year to FY2025

Cash conversion
1.60×

Cash conversion · 1.48× a year ago · operating cash flow covers the operating profit after tax

Share count, year on year
+0.12%

Share count, year on year · flat: no meaningful dilution

Gross margin
64%

Gross margin

Operating margin by fiscal year
YearOperating margin
FY202030%
FY202126%
FY202229%
FY202327%
FY202431%
FY202533%
Details›
Gross marginfiscal year to FY2025
64%
Operating marginfiscal year to FY2025
33%
Net marginfiscal year to FY2025
20%
Free cash flow margin
37%
Revenue, trailing twelve months
$3.70B
Free cash flow, trailing twelve months
$1.37B
Net income, trailing twelve months
$752M

Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.