Valid (VLID3) posted net income of R$ 47.1 million in the third quarter of 2026 (3Q26), down 9.1% from R$ 51.8 million in 3Q25. The net margin was 8.8%, and net income grew 26% over 2Q26. The company attributes the annual decline to income tax and social contribution (IR/CS) expenses of R$ 24.2 million, compared with R$ 6.5 million in 3Q25.
Net revenue totaled R$ 534.5 million, down 1.1% year over year and up 5.7% from 2Q26. The ID division's revenue rose 12.6% to R$ 296.1 million, driven by higher issuance of the CNDB (Carteira Nacional Docente do Brasil). Mobile declined 11.9% to R$ 138.2 million, and Pay fell 16.8% to R$ 100.2 million, due to Argentina. Digital Revenue was R$ 127 million, up 6.7% and accounting for 24% of the total.
EBITDA (earnings before interest, taxes, depreciation and amortization) was R$ 118.9 million, up 3.2% from 3Q25, with a margin of 22.2%. Pre-tax income was R$ 71.3 million, up 22.3%. In the first nine months of 2026, revenue was R$ 1.487 billion (-2.9%), EBITDA was R$ 345.5 million (+11%) and net income was R$ 140.4 million (-22%).
Operating cash generation was R$ 162 million in the quarter, equivalent to 136% of EBITDA. Net debt ended at R$ 48 million, or 0.1x EBITDA for the last 12 months. On 10/20/2026, Valid issued R$ 200 million in debentures (debt securities) in its 12th issuance, at CDI + 1.25% per year, maturing in October 2031. The proceeds were used to redeem the 10th issuance, and Moody's Local upgraded the company's rating to AA+.br.
The company approved dividends of R$ 14.1 million, or R$ 0.18 per share. The record date is 11/16/2026 and payment will be made on 11/30/2026.
Is VLID3 worth investing in?
- Price
- R$ 15.00
- as of 11/10/2026
- Dividend yield
- 12.44 %
- P/L
- 5.20
- P/VPA
- 0.68
