Grupo Profarma (PFRM3) posted consolidated gross revenue of R$ 4.5 bn in the third quarter of 2026 (3Q26), up 35.6% from 3Q25. The exact figure was R$ 4,490.6 mn, driven by growth in all three business units and the consolidation of 4BIO, acquired in May 2026. Without that effect, growth would have been 9.3%.
Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization, excluding IFRS 16 effects and non-recurring items) totaled R$ 150.5 mn, up 31.6%, with a margin of 3.9% of net revenue, versus 4.0% in 3Q25. Net revenue was R$ 3,868.9 mn (+35.7%) and gross profit was R$ 577.2 mn (+29.1%), with a gross margin of 14.9%. Operating expenses were R$ 426.7 mn, up 28.3%.
Adjusted net income was R$ 46.7 mn, down 11.2% from R$ 52.6 mn in 3Q25, with a margin of 1.2%. According to the company, the result reflects R$ 19.5 mn in charges from obligations to the sellers of 4BIO, a R$ 7.4 mn increase in depreciation and amortization, and R$ 4.1 mn more in income tax and social contribution. The company also cited the performance of Retail Distribution and the absence of a recorded tax credit in 3Q25. Over the last 12 months, adjusted net income was R$ 128.5 mn, down 8.4%, and operating cash flow totaled R$ 219.2 mn.
Total net debt ended the quarter at R$ 1.4 bn, consisting of R$ 827.7 mn in net bank debt and R$ 537.2 mn in obligations from the 4BIO purchase. Leverage (net debt to EBITDA) stood at 2.8x, or 1.8x excluding 4BIO. In October, the company completed the third debenture issuance, approved on October 8, of R$ 300 mn, at CDI + 1.45% per year, with a 5-year term. The issuance raised the long-term share of debt from 60% to 70%.
By unit, Profarma Distribuição had gross revenue of R$ 3.5 bn (+10.6%) and EBITDA of R$ 92.6 mn (+9.4%). Rede d1000 posted gross revenue of R$ 728.7 mn (+7.0%) and EBITDA of R$ 30.6 mn, flat, and went from 283 stores in 3Q25 to 320 in 3Q26. 4BIO had gross revenue of R$ 871.1 mn (+15.3% over pro forma 3Q25) and EBITDA of R$ 26.8 mn (+49.0%), with a margin of 3.5%.
In the document, the company also reported that, on October 26, BTC Participações, an affiliate of BMK Participações, signed a definitive agreement to acquire BPL's 38.18% stake in Profarma and come to hold 66% of the group. Closing depends on CADE approval and other conditions of the agreement.
Is PFRM3 worth investing in?
- Price
- R$ 7.69
- as of 11/11/2026
- Dividend yield
- 6.26 %
- P/L
- 6.16
- P/VPA
- 0.66
