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The Real Rate Index45.30.00Palanor: Inflation Pulse50.7+0.09Palanor: Geopolitical Stress60.0-2.16Palanor: Liquidity57.9-0.79Palanor: Capital Tightness47.5+0.91Palanor: Industrial Pulse70.10.00Palanor: AI Margin Compression53.4+0.29Palanor: Consumer Confidence48.6+0.50Palanor: US Dollar Strength46.50.00Palanor: Labor Heat63.2-0.01Palanor: Recession Vocabulary28.1+0.54Palanor: Uncertainty Index53.4+1.24Palanor: US Jobs Health40.30.00Palanor: Energy Transition37.0-0.52Palanor: Reshoring Sentiment22.8+0.54Palanor: AI Substitution28.4-0.24The Social Fabric Index45.70.00Palanor: Geopolitical Anxiety19.4-0.45Palanor: Quit Pressure37.6+0.42The Mania Index88.00.00The Palanor Index57.1-0.51Cost Disease Spread33.20.00Palanor: US vs China49.5-0.17Rise of Socialism Index40.8-0.26The Bubble Memory79.90.00Palanor: Steward Confidence50.8+0.13The Long Watch90.30.00The Reshoring Index55.2+0.00The Capital Return Index81.0-0.75The Discourse Index72.4+1.83The Hesitation Index30.8-6.58Palanor AI Inference Cost Index71.2-0.03The AI Capex Race Index78.4+1.36The Boardroom Index82.5-0.00The Layoff Cycle Index32.8-2.51Capital Deployment Posture Index62.3+1.26The Consumer Health Index41.7-2.96Labor Hours Composite44.40.00The Dollar Erosion Index66.6+0.14Palanor: Risk Appetite36.2+0.83
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Brazil's Listed Companies: Margins and Investment

Operating margin, free cash flow margin and capital spending, % of revenue, by fiscal year

Operating margin: 13.1% in 2025the lowest since 2017+8.3 pp since 2015

1 of 3 series is above their level a year earlier·1 of 3 is at a five-year high·2 of 3 are at a five-year low

YTD1y2y5y10y20yAll
Forecast availableOffContinuationForesight™
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High and lowMarks the highest and lowest readings in the window shown.
Current·Data to 2025

Plays the chart through its history. Pauses are where the data set a record or moved most.

Palanor calculation from annual statements filed with Brazil's securities regulator (CVM open data, ODbL). Companies allowed to list shares on B3 that report sales revenue, consolidated where filed; banks and insurers are left out. Nominal reais.

How much of each real of sales Brazil's listed companies kept as operating profit, spent on investment, and had left as free cash flow. Petrobras, Vale and the power utilities weigh most.

What this chart reads

Sources

Brazil Listed Companies, Operating Margin. Source: Palanor calculation from CVM, Portal de Dados Abertos (https://dados.cvm.gov.br/), annual financial statements (DFP), Open Database License (ODbL).

Brazil Listed Companies, Capital Spending as % of Revenue. Source: Palanor calculation from CVM, Portal de Dados Abertos (https://dados.cvm.gov.br/), annual financial statements (DFP), Open Database License (ODbL).

Brazil Listed Companies, Free Cash Flow Margin. Source: Palanor calculation from CVM, Portal de Dados Abertos (https://dados.cvm.gov.br/), annual financial statements (DFP), Open Database License (ODbL).

Charts are drawn from Palanor's signal library and recomputed from source data on every view. Transformations (changes, indexing, year-on-year rates) are Palanor's.

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