B3 S.A. - Brasil Bolsa Balcão (B3SA3) Fair Value & Analysis
Financial Services · BR · Market cap R$76.0B (≈ $14.9B) · ISIN BRB3SAACNOR6
What is B3 S.A. - Brasil Bolsa Balcão really worth?
A solid business, but trading 76% above our fair value of R$9.85.
Strengths
Risks
For context
Fair value as of: Sep 2, 2026
From 12 valuation models · updated 2 days ago
Share price +10.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The model range is unusually wide (R$5.39 to R$18.16). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 2, 2026.
How to read this chart
60‑month range R$8.62 – R$19.54 · fair‑value band R$5.39 – R$18.16 · the R$17.35 price screens above the R$9.85 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 2, 2026.
Analysis
B3 S.A. - Brasil Bolsa Balcão (B3SA3) currently trades at R$17.35, while our model-based Fair Value estimate is R$9.85, implying the stock looks roughly 76.1% overvalued today. The Quality Score stands at 65/100 (solid quality), in the Financial Services sector. Bull case: the Earnings-Based group reads highest at a median of R$14.69 per share, and 2 of the 12 models we run sit above the R$17.35 price. Bear case: the Growth DCF group reads lowest at R$1.98, and 10 of the 12 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, B3 S.A. - Brasil Bolsa Balcão generated revenue of R$10.6B at a net margin of 47.0%. Revenue grew 20.3% year over year. It earns a return on equity of 26.7%. Net debt stands at R$13.3B. Fundamentals as of Sep 2, 2026
Our scenario range runs from R$5.39 (bear case) to R$18.16 (bull case); at R$17.35, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 15% below its 52-week high and 49% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −55% fair-value upside, at −43%, B3SA3 screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly R$0.4141 per share, which is 4.2 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 12 models by family
Widest divergence: Earnings-Based (R$14.69) versus Growth DCF (R$1.98). Highest evidence: Owner Earnings (71).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 2, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 67
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
B3 S.A. - Brasil, Bolsa, Balcão, a financial market infrastructure company, provides trading services in an exchange and OTC environment. It operates through Markets, Data analytics solutions, Capital Market solutions, and Technology and platform segments.
Full company description
B3 S.A. - Brasil, Bolsa, Balcão, a financial market infrastructure company, provides trading services in an exchange and OTC environment. It operates through Markets, Data analytics solutions, Capital Market solutions, and Technology and platform segments. The company organized markets for securities, such as equities, financial contracts, indices, rates, currencies, energy, transportation, commodities, and spot and future settlement transactions. It also provides technological solutions for insurance, reinsurance, pension, and capitalization bond markets; data processing and analytics services, including standardization, quotations, and statistics; supports credit, financing, and leasing transactions in automotive, real estate, energy, and agribusiness sectors; and operates trading systems and clearinghouses. In addition, the company organized an over-the-counter market, and acts as a clearing ang settlement house. The company was formerly known as BM&FBOVESPA S.A. - Bolsa de Valores, Mercadorias e Futuros and changed its name to B3 S.A. - Brasil, Bolsa, Balcão in June 2017. B3 S.A. - Brasil, Bolsa, Balcão was incorporated in 2007 and is headquartered in São Paulo, Brazil.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
B3 S.A. - Brasil Bolsa Balcão reported revenue of R$10.1B in FY2025 versus R$9.1B in FY2021, a compound +2.7%/yr. Reported net income was R$4.6B in FY2025, compounding −0.7%/yr from FY2021.
of which total revenue +17.7 % · buybacks/dilution +0.0 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
B3SA3 screens 76% overvalued. Compare with S&P Global Inc →
Peer Group
Financial Data & Stock Exchanges · 53 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Financial Data & Stock Exchanges median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 35/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Financial Data & Stock Exchanges stocks, each showing price versus our Fair Value estimate (as of Sep 2, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| S&P Global Inc SPGI | $435.39 | $196.36 | −55% |
| CME Group CME | $285.80 | $145.51 | −49% |
| Moody's Corporation MCO | $514.95 | $192.63 | −63% |
| Intercontinental Exchange, Inc ICE | $162.33 | $75.95 | −53% |
| Hong Kong Exchanges and Clearing Limited 80388 | HK$360.20 | HK$280.07 | −22% |
| Deutsche Börse AG DB1 | €291.20 | €142.42 | −51% |
| Nasdaq, Inc NDAQ | $99.35 | $41.12 | −59% |
| MSCI Inc MSCI | $570.76 | $214.91 | −62% |
| Coinbase Global, Inc COIN | $190.72 | $73.66 | −61% |
| Cboe Global Markets, Inc CBOE | $310.45 | $136.64 | −56% |
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