Deep Value: cash covers more than 100% of the stock price

This company holds roughly $3.8B in cash and investments — more than its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

Simpar S.a.

SIMH3.SA

Conglomerates · Industrials

Exchange

B3 S.A.

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Strong

Growth

Weak

Cash Flow

Weak

Stability

Weak

Valuation

Data not available

Dividends

Mixed

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Winston Score History

The full picture

Simpar is a Brazilian holding company that owns a group of businesses focused on transportation, logistics, and fleet services. Its main subsidiaries include JSL (road freight and logistics), Movida (car and truck rentals), Vamos (truck and equipment leasing), and CS Brasil (waste management). The company serves a wide range of customers, from large corporations needing supply chain solutions to individual consumers renting vehicles.

Simpar makes money through service fees, rental contracts, and leasing agreements across its subsidiaries, rather than selling a single product. It operates almost entirely in Brazil, making it heavily tied to the health of the Brazilian economy. With a market cap around $2.7 billion and a diversified portfolio of infrastructure-like businesses, Simpar benefits from long-term contracts and high switching costs. The key growth driver is Brazil's ongoing demand for outsourced fleet and logistics services, while the main risk is Brazil's high interest rate environment, which raises borrowing costs for a company that relies heavily on debt to finance its vehicle and equipment fleets.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+6.0% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-45.5% YoY

YoY Growth Rate

Earnings declining

Insider Activity

67.4%ownership

Insiders own a meaningful stake in the company

Cash Runway

~7 years

R$19.8B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

R$19.8B cash & investments at current burn rate

Growth context

Simpar S.a. is growing revenue at 6% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

42.6%

Healthy — 42.6% gross margin

Profit after running costs

Operating Margin

32.3%

Excellent — 32.3% operating margin

Return on the money invested

ROCE

19.3%

Strong — 19.3% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth

Sales YoY

+4.6%

Slow sales growth (+4.6% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-3.2%

Burning cash (-3.2%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

9.56

Heavy debt load (9.56)

Covers its interest

Interest Cover

1.59x

Dangerous — barely covers interest (1.6x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

2.69%

no trend

Moderate income — 2.69% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

-58.6%

no trend

Dividend cut (-58.6% YoY) — warning sign

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