Azul revenue and financials
R$18.86Change from previous close: −1.82%Absolute change: −R$0.35
In the fiscal year ended December 2025, Azul reported revenue of R$21.64B (+10.83% year over year). Net income was R$124.86M, a net margin of 0.6%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +10.83%
- 2025 vs 2024
- Net margin
- 0.6%
- 2024: -46.9%
Financial data
Amounts in millions of BRL; per-share values in BRL; shares in millions.
| Item | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | 30,785 | 31,167 | 23,638 | 27,626 | 26,897 | 25,549 | 26,275 | 23,404 | 22,831 | 20,896 | 20,533 | 19,605 |
| Current assets | 6,293 | 7,228 | 6,304 | 7,299 | 7,180 | 5,961 | 5,658 | 5,011 | 4,955 | 4,863 | 5,044 | 5,931 |
| Cash and equivalents | 1,269 | 2,088 | 992 | 653 | 1,459 | 461 | 1,210 | 1,082 | 1,440 | 1,338 | 1,897 | 1,399 |
| Short-term investments | 0.0 | 0.0 | 26.3 | 1,113 | 1,134 | 1,140 | 71.9 | 57.0 | 35.9 | — | — | — |
| Receivables | 2,598 | 2,780 | 2,931 | 2,889 | 1,900 | 1,922 | 1,979 | 1,468 | 1,120 | 1,459 | 1,343 | 1,961 |
| Inventory | 1,591 | 1,415 | 1,344 | 1,350 | 1,245 | 1,202 | 1,218 | 1,221 | 1,194 | 1,147 | 1,020 | 752 |
| Net property, plant and equipment | 11,731 | 11,120 | 12,012 | 13,201 | 13,470 | 13,410 | 13,469 | 12,275 | 11,948 | 10,974 | 11,009 | 9,633 |
| Goodwill | 901 | 901 | 901 | 901 | 901 | 901 | 901 | 901 | 901 | 901 | 901 | 901 |
| Other intangible assets | 636 | 631 | 635 | 645 | 665 | 666 | 658 | 618 | 602 | 578 | 562 | 561 |
| Long-term investments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 22.7 | 1,040 | 967 | 956 | 792 | 780 | 744 |
| Current liabilities | 14,892 | 14,479 | 29,473 | 26,828 | 21,364 | 17,022 | 21,342 | 18,522 | 17,404 | 14,412 | 14,749 | 14,064 |
| Accounts payable | 2,646 | 2,936 | 3,931 | 3,492 | 3,584 | 3,672 | 4,147 | 3,703 | 3,194 | 2,340 | 2,278 | 1,902 |
| Long-term debt | 8,536 | 8,645 | 9,585 | 9,530 | 12,469 | 16,329 | 13,832 | 12,137 | 12,071 | 10,954 | 9,775 | 10,272 |
| Total debt | 21,416 | 20,642 | 36,168 | 37,866 | 35,083 | — | — | — | — | — | — | — |
| Total liabilities | 35,940 | 34,941 | 52,676 | 55,033 | 52,937 | 54,000 | 56,710 | 49,440 | 48,998 | 43,264 | 41,861 | 40,891 |
| Total equity (incl. minority) | -5,155 | -3,774 | -29,038 | -27,407 | -26,040 | -28,451 | -30,435 | -26,036 | -26,167 | -22,368 | -21,328 | -21,286 |
| Retained earnings | -30,074 | -28,673 | -34,694 | -33,063 | -31,697 | -33,165 | -34,819 | -30,406 | -30,527 | -26,717 | -25,667 | -25,614 |