NASDAQ · Financial Statements

Afya Limited (AFYA) Financial Statements

$11.37 NASDAQ: AFYA Market Cap $1.04B

Afya Limited most recently reported annual revenue of $3.6B, net profit of $738.0M. Revenue grew at an average annual rate of 24.7% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Afya Limited: Revenue rose from $216.0M in 2017 to $3.6B in 2025, a change of +1578.2% over 8 years; net profit was positive in all 9 reported years; operating margin moved from 22.8% to 32.8%, a shift of +10.0 percentage points; the most recent year shows net profit of $738.0M.

Income Statement — 9 Years (USD millions)

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	$216.0M	$334.0M	$751.0M	$1.2B	$1.7B	$2.3B	$2.9B	$3.3B	$3.6B
Operating Expenses	$167.0M	$237.0M	$545.0M	$838.0M	$1.3B	$1.7B	$2.1B	$2.3B	$2.4B
Operating Profit	$49.0M	$96.0M	$205.0M	$363.0M	$441.0M	$664.0M	$767.0M	$1.0B	$1.2B
Operating Margin	22.8%	28.9%	27.3%	30.3%	25.6%	28.5%	26.7%	30.6%	32.8%
Other Income	$2.0M	$2.0M	$-18.0M	$-28.0M	$-167.0M	$-236.0M	$-337.0M	$-336.0M	$-345.0M
Interest	$1.0M	$2.0M	$16.0M	$16.0M	$176.0M	$289.0M	$386.0M	$366.0M	$494.0M
Depreciation	$4.0M	$10.0M	$73.0M	$110.0M	$154.0M	$212.0M	$290.0M	$204.0M	$0
Profit Before Tax	$51.0M	$99.0M	$187.0M	$335.0M	$273.0M	$428.0M	$430.0M	$676.0M	$844.0M
Tax	$4.9M	$4.0M	$7.6M	$8.1M	$11.4M	$8.3M	$5.6M	$4.1M	$10.7M
Net Profit	$45.0M	$86.0M	$154.0M	$292.0M	$223.0M	$374.0M	$386.0M	$632.0M	$738.0M
EPS	$0.52	$0.98	$2.02	$3.12	$2.37	$4.15	$4.27	$6.93	$8.11
Dividend Payout	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

Metric	Sep '23	Dec '23	Mar '24	Jun '24	Sep '24	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25	Mar '26	Jun '26
Revenue	$723.0M	$730.0M	$804.0M	$810.0M	$841.0M	$849.0M	$936.0M	$919.0M	$929.0M	$927.0M	$994.0M	$994.0M
Operating Expenses	$533.0M	$559.0M	$515.0M	$579.0M	$607.0M	$591.0M	$564.0M	$634.0M	$651.0M	$650.0M	$609.0M	$695.0M
Operating Profit	$190.0M	$171.0M	$289.0M	$231.0M	$234.0M	$258.0M	$373.0M	$285.0M	$277.0M	$277.0M	$385.0M	$299.0M
Operating Margin	26.3%	23.4%	36.0%	28.5%	27.8%	30.4%	39.8%	31.0%	29.9%	29.9%	38.8%	30.1%
Interest	$22.0M	$19.0M	$18.0M	$78.0M	$93.0M	$117.0M	$107.0M	$136.0M	$121.0M	$117.0M	$132.0M	$125.0M
Profit Before Tax	$110.0M	$93.0M	$219.0M	$165.0M	$137.0M	$155.0M	$282.0M	$194.0M	$181.0M	$208.0M	$299.0M	$208.0M
Tax	$11.0M	$-9.8M	$5.0M	$1.9M	$9.1M	$700,000	$8.8M	$9.0M	$11.8M	$14.2M	$14.0M	$980,000
Net Profit	$93.0M	$98.0M	$203.0M	$158.0M	$120.0M	$150.0M	$252.0M	$172.0M	$155.0M	$176.0M	$252.0M	$202.0M
EPS	$1.03	$1.09	$2.22	$1.74	$1.31	$1.65	$2.76	$1.88	$1.70	$1.92	$2.79	$2.27

Over the 9 years reported for Afya Limited, borrowings increased from $4.0M in 2017 to $3.1B in 2025, cash stood at $1.1B in the latest year, shareholders' equity was $0, current assets covered current liabilities 2.20 times.

Balance Sheet — 9 Years (USD millions)

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Total Assets	$104.0M	$918.0M	$2.9B	$4.8B	$6.4B	$7.2B	$7.6B	$8.8B	$9.4B
Current Assets	$60.0M	$134.0M	$1.1B	$1.4B	$1.2B	$1.6B	$1.2B	$1.6B	$1.9B
Cash	$25.0M	$62.0M	$943.0M	$1.0B	$749.0M	$1.1B	$553.0M	$911.0M	$1.1B
Inventory	$0	$1.0M	$4.0M	$8.0M	$12.0M	$12.0M	$1.0M	$0	$0
Receivables	$31.0M	$58.0M	$125.0M	$302.0M	$404.0M	$481.0M	$590.0M	$622.0M	$753.0M
Fixed Assets	$32.0M	$66.0M	$414.0M	$679.0M	$1.1B	$1.2B	$1.4B	$1.5B	$1.6B
Capital Work in Progress	$0	$0	$0	$0	$0	$0	$0	$0	$0
Investments	$3.0M	$26.0M	$46.0M	$51.0M	$48.0M	$54.0M	$52.0M	$54.0M	$81.0M
Other Assets	$0	$170.0M	$459.0M	$811.0M	$1.2B	$1.3B	$1.3B	$1.5B	$1.5B
Total Liabilities	$57.0M	$328.0M	$799.0M	$2.0B	$3.4B	$3.9B	$3.9B	$4.5B	$4.5B
Current Liabilities	$52.0M	$182.0M	$333.0M	$589.0M	$767.0M	$906.0M	$1.1B	$1.1B	$884.0M
Borrowings	$4.0M	$78.0M	$345.0M	$1.1B	$2.2B	$2.7B	$2.7B	$3.2B	$3.1B
Other Liabilities	$53.0M	$250.0M	$454.0M	$818.0M	$1.3B	$1.2B	$1.3B	$1.3B	$1.3B
Equity	$66.0M	$315.0M	$0	$0	$0	$0	$0	$0	$0
Reserves	$46.0M	$502.0M	$2.1B	$2.8B	$2.9B	$3.2B	$3.6B	$4.3B	$4.8B

For Afya Limited, operating cash flow was positive in 9 of 9 reported years; free cash flow in the latest year was $1.0B; free cash flow was positive in 9 of 9 years; financing activities used $387.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 9 Years (USD millions)

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Operating Cash Flow	$40.0M	$80.0M	$299.0M	$372.0M	$631.0M	$844.0M	$1.0B	$1.4B	$1.2B
Investing Cash Flow	$-43.0M	$-284.0M	$-476.0M	$-1.2B	$-1.6B	$-888.0M	$-1.4B	$-1.5B	$-661.0M
Financing Cash Flow	$-3.0M	$150.0M	$36.0M	$-27.0M	$-317.0M	$-374.0M	$-301.0M	$-298.0M	$-387.0M
Net Cash Flow	$14.0M	$37.0M	$881.0M	$102.0M	$-296.0M	$345.0M	$-540.0M	$358.0M	$317.0M
Free Cash Flow	$19.0M	$59.0M	$178.0M	$234.0M	$354.0M	$547.0M	$798.0M	$1.0B	$1.0B

Valuation & Return Ratios

Metric	Value
PEG Ratio	0.53
EV / EBITDA	4.89
FCF Yield	19.70%
Quick Ratio	2.20
Interest Coverage	2.50
Return 1Y	-4.34%
Return 3Y	-5.73%
Return 5Y	-41.05%

Afya Limited (AFYA) financials — frequently asked questions

What is Afya Limited's annual revenue?

Afya Limited (AFYA) reported annual revenue of $3.6B in its most recent fiscal year.

What is Afya Limited's net profit?

Afya Limited (AFYA) reported net profit of $738.0M in its most recent fiscal year.

What is AFYA EV/EBITDA?

Afya Limited's enterprise value to EBITDA (EV/EBITDA) ratio is 4.89.

Related stock screens

High ROE Consumer Defensive Stocks Low P/E Consumer Defensive Stocks High Net Margin Consumer Defensive Stocks Dividend Consumer Defensive Stocks Low Debt Consumer Defensive Stocks High ROE Stocks Low P/E Stocks High Net Margin Stocks Dividend Stocks Low Debt Stocks Nasdaq High ROE Stocks All stock screens

AFYA Overview AFYA Dividend Run Stock Screener

Data for information only, not investment advice. Figures may be delayed or inaccurate; verify against company filings. See our disclaimer.