BBDO

MKT CAP:$37B

Banco Bradesco S.A.

Market Cap

$37B

Financial Services·Banks - Regional·🇧🇷 Brazil·NYSE

Financials·Banks - Regional·🇧🇷·NYSE

Stock Price

$3.48+$0.59 (+20.42%)

Apr 24, 2026

Company Details

Banco Bradesco S.A., together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segment, Banking and Insurance. I...

CEO

Marcelo de Araujo Noronha

IPO Date

Mar 13, 2012

Website

banco.bradesco

Key Metrics TTM

Revenue

$31.4B

+135.6% YoY

Net Income

$3.8B

EPS (Diluted)

$0.36

Free Cash Flow

$6.3B

Revenue / Share

$2.97

Gross Margin

59.5%

Operating Margin

20.7%

Net Margin

12.2%

FCF Margin

20.0%

P/S

1.2x

P/E

9.6x

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Dec 30, 2025

$70.3B+39.9%EPS $0.45

Q4 2025

Dec 30, 2025

$19.3BEPS $0.12

FY 2024

Dec 31, 2024

$50.3BEPS $0.33

Q4 2020

Apr 30, 2021

$4.5B+8.4%EPS $0.09

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 17	$3.6B	-$2.0B	$750M
Q3 17	$3.8B	-$1.4B	$1.2B
Q4 17	-$3.4B	-$4.7B	$1.5B
Q1 18	$4.1B	$4.1B	$2.5B
Q2 18	$2.8B	$2.8B	$920M
Q3 18	$4.1B	$4.1B	$2.3B
Q4 18	$3.4B	$3.4B	$1.1B
Q1 19	$4.4B	$4.4B	$2.5B
Q2 19	$4.7B	$4.7B	$2.9B
Q3 19	$3.9B	$3.9B	$1.7B
Q4 19	$4.2B	$4.2B	$1.5B
Q1 20	$577M	$577M	-$1.4B
Q2 20	$3.2B	$3.2B	$1.4B
Q3 20	$4.3B	$4.3B	$2.5B
Q4 20	$4.5B	$4.5B	$1.6B
Q4 25	$19.3B	$6.6B	$992M

Valuation

Quarter	P/S	P/E
Q2 17	94.5x	25.9x
Q3 17	16.2x	46.4x
Q4 17	26.3x	62.5x
Q1 18	29.4x	68.3x
Q2 18	24.0x	48.6x
Q3 18	24.7x	46.4x
Q4 18	18.9x	82.0x
Q1 19	19.7x	80.2x
Q2 19	18.2x	77.1x
Q3 19	16.6x	66.7x
Q4 19	16.9x	68.3x
Q1 20	13.0x	46.1x
Q2 20	16.1x	58.5x
Q3 20	14.2x	60.0x
Q4 20	19.6x	77.5x
Q4 25	6.2x	51.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 17	-$573M	-$697M
Q3 17	$5.5B	$5.1B
Q4 17	-$458M	-$939M
Q1 18	$971M	$838M
Q2 18	-$9.4B	-$9.5B
Q3 18	$860M	$788M
Q4 18	-$7.4B	-$7.6B
Q1 19	-$6.1B	-$6.2B
Q2 19	-$2.1B	-$2.2B
Q3 19	-$5.4B	-$5.6B
Q4 19	$2.9B	$2.8B
Q1 20	-$7.9B	-$8.0B
Q2 20	-$1.4B	-$1.5B
Q3 20	-$4.9B	-$5.0B
Q4 20	-$5.5B	-$5.6B
Q4 25	$18.6B	$18.3B

Capital Expenditures

Quarter	CapEx
Q2 17	$124M
Q3 17	$402M
Q4 17	$481M
Q1 18	$133M
Q2 18	$41M
Q3 18	$72M
Q4 18	$235M
Q1 19	$139M
Q2 19	$111M
Q3 19	$131M
Q4 19	$149M
Q1 20	$101M
Q2 20	$88M
Q3 20	$117M
Q4 20	$56M
Q4 25	$303M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 17	-65.5%	-66.5%
Q3 17	+173.4%	+144.8%
Q4 17	-113.2%	-46.5%
Q1 18	+0.1%	-41.6%
Q2 18	-21.9%	-33.5%
Q3 18	+7.3%	-30.5%
Q4 18	+201.8%	+148.5%
Q1 19	+5.9%	+15.6%
Q2 19	+66.2%	-3.4%
Q3 19	-5.4%	+16.9%
Q4 19	+21.1%	+14.3%
Q1 20	-86.8%	+4.8%
Q2 20	-32.6%	-3.0%
Q3 20	+12.3%	-13.9%
Q4 20	+8.4%	+7.3%
Q4 25	+3252.3%	+849.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 17	$0	0.0%
Q3 17	$0	0.0%
Q4 17	$0	—
Q1 18	$0	0.0%
Q2 18	$0	0.0%
Q3 18	$0	0.0%
Q4 18	$0	0.0%
Q1 19	$0	0.0%
Q2 19	$0	0.0%
Q3 19	$0	0.0%
Q4 19	$0	0.0%
Q1 20	$0	0.0%
Q2 20	$0	0.0%
Q3 20	$0	0.0%
Q4 20	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q2 17	$3.2B	$87M
Q3 17	$3.7B	$114M
Q1 18	$609M	$96M
Q2 18	$960M	$948M
Q3 18	$804M	$56M
Q4 18	$343M	—
Q1 19	$785M	$46M
Q2 19	$613M	$120M
Q3 19	$1.0B	$1.1B
Q4 19	$338M	$96M
Q1 20	$808M	$47M
Q2 20	$764M	$46M
Q3 20	$775M	$46M
Q4 20	$270M	$649M
Q4 25	$1.4B	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$25.0B	$60.6B	$85.7B
Q2 22	$28.7B	$54.0B	$82.7B
Q3 22	$30.9B	$73.0B	$103.9B
Q4 22	$28.8B	$45.3B	$74.1B
Q1 23	$29.2B	$78.6B	$107.8B
Q2 23	$31.9B	$63.5B	$95.4B
Q3 23	$32.0B	$75.4B	$107.3B
Q4 23	$34.6B	$70.7B	$105.4B
Q1 24	$33.3B	$72.3B	$105.5B
Q2 24	$34.2B	$75.2B	$109.4B
Q3 24	$32.8B	$68.1B	$100.8B
Q4 24	$33.9B	$62.2B	$96.1B
Q1 25	$31.4B	$57.6B	$89.0B
Q2 25	$32.1B	$21.0B	$53.2B
Q3 25	$32.1B	$21.4B	$53.5B
Q4 25	$30.3B	$21.0B	$51.4B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 17	5.72B	-6.0%	-2.6%
Q3 17	5.72B	0.0%	-2.6%
Q4 17	8.00B	+39.9%	+39.9%
Q1 18	10.65B	+33.0%	+75.0%
Q2 18	10.79B	+1.4%	+88.6%
Q3 18	10.67B	-1.2%	+86.4%
Q4 18	10.66B	-0.1%	+33.2%
Q1 19	10.69B	+0.3%	+0.4%
Q2 19	10.69B	0.0%	-0.9%
Q3 19	10.69B	0.0%	+0.2%
Q4 19	10.64B	-0.4%	-0.2%
Q1 20	10.69B	+0.4%	-0.0%
Q2 20	10.69B	0.0%	-0.0%
Q3 20	10.69B	0.0%	-0.0%
Q4 20	10.69B	+0.0%	+0.5%
Q4 25	10.58B	-1.1%	-1.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 17	$33.3K	109K
Q3 17	$35.0K	109K
Q4 17	-$34.2K	99K
Q1 18	$41.8K	99K
Q2 18	$28.6K	99K
Q3 18	$41.4K	99K
Q4 18	$34.9K	99K
Q1 19	$44.4K	99K
Q2 19	$47.7K	99K
Q3 19	$39.2K	99K
Q4 19	$42.8K	97K
Q1 20	$5.9K	97K
Q2 20	$32.5K	97K
Q3 20	$44.6K	97K
Q4 20	$50.5K	90K
Q4 25	$235.5K	82K

Revenue / Employee