Vulcabras stock gets a BRL 20.00 Genial price target

Published on 10/01/2026 at 02:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Vulcabras stock has a BRL 20.00 Genial target dated September 14, 2026. Second-quarter revenue rose 11.20 percent to BRL 994.80 million.

Vulcabras, BRVULCACNOR2, Illustration mit AI erstellt.

Vulcabras stock has a BRL 20.00 price target from Genial, while second-quarter 2026 revenue reached BRL 994.80 million, up 11.20 percent from the same period of 2025. The figures frame a clear split between operating growth and the financial burden left by the companys 2025 dividend distribution.

Genial targets BRL 20.00

Genial initiated coverage on September 14, 2026, with a Buy recommendation and a BRL 20.00 target for VULC3. Its reference price was BRL 13.19 on September 11, 2026, placing the target 51.63 percent above that reference level.

The report used a shareholder free cash flow model with a 14.10 percent cost of equity and 2.00 percent real perpetual growth. Genial also expects recurring EBITDA, after IFRS 16, to remain near the 21.00 percent to 22.00 percent margin band, making debt reduction more important than further margin expansion.

Second quarter shows operating growth

As A Revista reported on September 16, 2026, Vulcabras generated BRL 994.80 million in net revenue in the second quarter of 2026, an 11.20 percent year-over-year increase. Recurring EBITDA rose 9.30 percent to BRL 208.60 million, while recurring net income was BRL 143.70 million and remained broadly stable.

Sales volume reached 8.80 million units, up 3.70 percent year over year. The contrast is important: revenue and EBITDA continued to expand, but the smaller change in recurring net income shows how financing costs can dilute operational progress.

Debt reduction remains central

Vulcabras ended the first half of 2026 with net debt of BRL 576.00 million, below BRL 769.00 million at the end of fiscal year 2025, according to the September 16, 2026 report from A Revista. The company also approved a buyback program covering up to 15 million shares, equal to 13.56 percent of shares in circulation.

For investors, the next test is whether lower net debt can allow more of the companys sales growth to reach net income. The balance sheet trend and the recurring profit figures therefore matter alongside the BRL 20.00 target.

Market value reaches BRL 4.3 billion

Vulcabras had a market capitalization of BRL 4.3 billion as of September 30, 2026. The company operates in consumer cyclical footwear and accessories, with brands including Olympikus, Mizuno and Under Armour, and its VULC3 shares are listed on B3.