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Definitive Analysis

Financial Statements

Periods / Units / Analysis

Ticker

Industry

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Page: Company Financials

Arco Platform Limited

Ticker: ARCE | Industry: Education & Training Services | Sector: Consumer Defensive
$13.98 0.00 (0.00%)
As of: 2023-12-15

Master Data Export


Enterprise Value

Metric 2023 2022 2021 2020 2019 2018 2017
Stock Price 56.81 77.37 132.71 217.46 170.00 85.84 76.08
Market Capitalization 3,749.94M 4,329.02M 7,561.25M 12,103.93M 8,745.24M 2,660.10M 845.27M
(-) Cash & Equivalents 547.12M 278.86M 552.13M 303.28M 16.09M 195.89M -17.28M
(+) Total Debt 1,955.17M 1,807.76M 957.08M 331.41M 48.04M 0.00M 0.00M
Enterprise Value 5,157.99M 5,857.93M 7,966.20M 12,132.05M 8,777.20M 2,464.21M 862.56M

Income Statement

Metric TTM TTM-1 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31
Revenue 1,939M 1,486M 1,775M 1,232M 1,002M 573M 381M 244M 159M 117M
Cost of Revenue 646M 389M 501M 294M 221M 117M 81M 59M 41M 28M
Gross Profit 1,294M 1,097M 1,275M 938M 781M 456M 300M 186M 118M 88M
Gross Profit Margin 66.7% 73.8% 71.8% 76.1% 77.9% 79.5% 78.8% 76.1% 74.1% 75.9%
R&D Expenses 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
SG&A Expenses 1,089M 928M 1,003M 825M 643M 391M 243M 114M 71M 45M
Operating Expenses 1,028M 922M 979M 808M 645M 398M 238M 111M 69M 47M
Operating Income (EBIT) 266M 176M 296M 129M 135M 58M 62M 75M 49M 42M
Operating Income Margin 13.7% 11.8% 16.6% 10.5% 13.5% 10.1% 16.3% 30.7% 30.5% 35.7%
Interest Income 19M 264M 445M 91M 5M 72M 0M 0M 0M 0M
Interest Expense 495M 539M 638M 372M 91M 171M 10M 11M 0M 0M
Net Interest Income -476M -275M -193M -281M -87M -99M -10M -11M 0M 0M
Unusual Items 132M 27M -34M -22M -10M -2M -153M 3M 44M 11M
EBT Excluding Unusual Items -210M -99M 102M -151M 49M -41M 52M 64M 48M 41M
Pre-Tax Income -78M -72M 68M -174M 39M -43M -101M 66M 93M 52M
Pre-Tax Margin -4.0% -4.9% 3.8% -14.1% 3.9% -7.4% -26.5% 27.2% 58.3% 44.9%
Income Tax Expense -45M -12M 28M -16M 22M -33M -18M 23M 18M 8M
Net Income -33M -61M 39M -158M 17M -9M -83M 44M 75M 44M
Net Income Margin -1.7% -4.1% 2.2% -12.8% 1.7% -1.6% -21.8% 17.9% 47.2% 37.7%
Depreciation & Amortization 301M 241M 277M 69M 127M 48M 20M 14M 6M 3M
EBITDA 567M 417M 573M 198M 263M 106M 82M 89M 54M 45M
EBITDA Margin 29.2% 28.1% 32.3% 16.1% 26.3% 18.6% 21.4% 36.5% 34.1% 38.3%
NOPAT 210M 139M 172M 102M 58M 46M 49M 49M 39M 35M
NOPAT Margin 10.8% 9.3% 9.7% 8.3% 5.8% 8.0% 12.9% 20.2% 24.4% 30.0%
Owner's Earnings 113M -60M 137M -300M 37M -15M -100M 47M 74M 42M
Owner's Earnings Margin 5.8% -4.0% 7.7% -24.4% 3.7% -2.7% -26.1% 19.1% 46.3% 35.7%
EPS (Basic) -0.64 -1.05 0.71 -3.17 0.30 -0.18 -1.64 3.98 6.76 3.95
EPS (Diluted) -0.55 -1.07 0.71 -3.17 0.30 -0.18 -1.64 3.93 6.76 3.95
Shares (Basic) 61M 56M 56M 50M 56M 52M 50M 11M 11M 11M
Shares (Diluted) 61M 57M 56M 50M 56M 52M 50M 11M 11M 11M

Product Segments

Metric TTM TTM-1 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Educational Content 0.00M 0.00M 1,761.42M 0.00M 0.00M 1,195.33M
Other 0.00M 0.00M 0.00M 0.00M 4.53M 5.48M
Other Miscellaneous Revenue 0.00M 0.00M 17.43M 0.00M 0.00M 0.00M
Other miscellaneous revenue. 0.00M 0.00M 0.00M 17.24M 0.00M 0.00M

Balance Sheet

Metric MRQ MRQ-1 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31
Cash & Cash Equivalents 400.33M 693.91M 216.36M 211.14M 424.41M 48.90M 12.30M 0.83M 4.36M
Short-Term Investments 117.13M 119.96M 391.79M 973.29M 712.65M 574.80M 806.79M 83.01M 65.62M
Cash & Short-Term Investments 517.46M 813.87M 608.15M 1,184.44M 1,137.06M 623.70M 819.09M 83.84M 69.97M
Net Receivables 902.60M 1,090.26M 928.01M 636.65M 444.56M 346.34M 147.84M 100.05M 70.90M
Inventory 283.72M 219.25M 254.06M 158.58M 74.08M 40.11M 15.13M 18.82M 12.55M
Other Current Assets 136.38M 121.55M 82.52M 66.96M 24.07M 14.63M 6.09M 7.33M 4.06M
Total Current Assets 1,840.16M 2,244.92M 1,872.73M 2,046.63M 1,679.76M 1,024.78M 988.15M 210.04M 157.48M
Property, Plant & Equipment 113.51M 126.01M 127.73M 109.85M 56.11M 42.96M 13.35M 9.08M 5.70M
Goodwill 0.00M 0.00M 1,950.88M 1,949.90M 1,394.35M 916.77M 89.63M 89.63M 33.21M
Intangible Assets 3,863.56M 3,851.95M 1,233.17M 1,307.46M 1,155.29M 895.14M 98.11M 85.85M 53.05M
Long-Term Investments 55.26M 46.93M 142.49M 167.64M 20.00M 53.26M 16.23M 12.85M 46.01M
Tax Assets 484.92M 449.77M 337.27M 321.22M 236.90M 156.75M 99.46M 5.86M 3.72M
Other Non-Current Assets 84.50M 89.34M 89.15M 87.13M 33.87M 67.98M 29.95M 17.09M 19.16M
Other Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Non-Current Assets 4,601.76M 4,564.00M 3,880.68M 3,943.19M 2,896.52M 2,132.85M 346.73M 220.37M 160.85M
Total Assets 6,441.91M 6,808.92M 5,753.41M 5,989.82M 4,576.28M 3,157.63M 1,334.88M 430.41M 318.33M
Accounts Payable 48.99M 43.02M 34.61M 18.54M 7.88M 8.58M 3.83M 1.18M 0.95M
Short-Term Debt 133.39M 90.50M 137.20M 248.57M 120.45M 105.41M 19.85M 37.68M 25.82M
Tax Payables 22.34M 32.58M 38.06M 45.73M 54.41M 59.55M 19.85M 18.45M 3.04M
Deferred Revenue 111.77M 223.30M 16.08M 35.29M 23.08M 25.63M 6.00M 5.90M 1.95M
Other Current Liabilities 983.32M 1,253.93M 136.81M 206.51M 795.82M 246.62M 17.20M 7.24M 11.08M
Total Current Liabilities 1,299.82M 1,643.33M 362.77M 554.64M 1,001.63M 445.78M 66.72M 70.46M 42.84M
Long-Term Debt 1,824.64M 1,861.81M 1,876.53M 1,625.88M 225.89M 19.01M -0.40M 0.00M 0.00M
Capital Lease Obligations 69.42M 77.58M 76.91M 43.12M 35.22M 25.86M 0.00M 0.00M 0.00M
Deferred Tax Liabilities 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 1.38M 0.08M 6.23M
Other Non-Current Liabilities 420.52M 417.34M 445.86M 1,095.80M 1,169.23M 1,135.43M 205.73M 54.92M 25.37M
Total Non-Current Liabilities 2,314.58M 2,356.73M 2,399.29M 2,764.79M 1,430.34M 1,180.29M 206.71M 55.00M 31.61M
Total Liabilities 3,614.40M 4,000.07M 2,762.07M 3,319.43M 2,431.98M 1,626.08M 273.43M 125.46M 74.44M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock 0.01M 0.01M 0.01M 0.01M 0.01M 0.01M 0.01M 55.90M 48.52M
Retained Earnings -182.60M -108.56M -199.18M -238.67M -80.59M -97.37M -86.69M 0.00M 0.00M
Accumulated OCI 2,763.40M 2,757.39M 2,009.80M 2,203.86M 2,200.65M 1,607.62M 1,089.51M 242.67M 187.37M
Minority Interest 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -0.29M 0.11M 0.12M
Total Shareholders’ Equity 2,580.82M 2,648.85M 1,810.63M 1,965.20M 2,120.07M 1,510.26M 1,002.83M 298.57M 235.89M
Total Equity 2,580.82M 2,648.85M 1,810.63M 1,965.20M 2,120.07M 1,510.26M 1,002.53M 298.68M 236.01M
Total Liabilities & Equity 6,195.22M 6,648.91M 4,572.69M 5,284.63M 4,552.04M 3,136.34M 1,275.96M 424.14M 310.45M
Tangible Assets 2,578.36M 2,956.97M 2,569.36M 2,732.46M 2,026.64M 1,345.73M 1,147.14M 254.93M 232.06M
Tangible Equity -1,282.74M -1,203.11M -1,373.42M -1,292.16M -429.57M -301.64M 814.79M 123.20M 149.74M
Tangible Book Value -1,282.74M -1,203.11M -1,373.42M -1,292.16M -429.57M -301.64M 814.79M 123.20M 149.74M
Total Investments 172.39M 166.89M 534.28M 1,140.93M 732.65M 628.07M 823.02M 95.86M 111.62M
Net Debt 1,557.71M 1,258.39M 1,797.37M 1,663.30M -78.07M 75.52M 7.15M 36.85M 21.46M

Capital Metrics

Metric MRQ MRQ-1 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31
Working Capital 375.3M 459.1M 339.1M 653.7M 699.5M 616.4M 930.3M 140.4M 111.9M
Total Capital 4,690.0M 4,696.2M 3,911.2M 3,749.7M 2,547.2M 1,719.2M 1,095.3M 305.6M 241.1M
Capital Employed 4,977.1M 5,023.1M 4,219.8M 4,596.9M 3,596.0M 2,749.2M 1,277.0M 360.7M 272.8M
Invested Capital 4,289.6M 4,002.3M 3,694.8M 3,538.5M 2,122.8M 1,670.3M 1,083.0M 304.8M 236.7M

Cash Flow Statement

Metric TTM TTM-1 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31
Net Income -77.77M -72.46M 67.92M -173.66M 39.10M -42.53M -100.90M 66.36M 92.84M 52.26M
Depreciation & Amortization 311.33M 241.49M 277.46M 194.89M 127.46M 48.31M 19.59M 14.29M 5.76M 3.12M
Deferred Income Tax 7.53M -4.28M 2.02M 0.24M -3.00M 8.33M 24.91M 1.06M -35.46M -1.87M
Stock-Based Compensation 67.66M 63.62M 35.57M 70.13M 36.33M 33.04M 60.30M 1.89M 2.04M 3.12M
Change in Working Capital -302.42M -263.55M -360.95M -299.06M -129.31M -129.49M -50.99M -30.94M -24.04M -32.55M
Accounts Receivable -198.51M -189.20M -263.36M -184.47M -108.09M -136.41M -57.02M -24.35M -13.64M -22.39M
Inventory -155.40M -77.92M -122.61M -62.21M -18.16M -14.64M -3.56M -8.91M -8.31M -5.13M
Accounts Payable 70.73M 97.33M 79.46M 52.92M 3.89M 8.46M 10.26M -1.51M 0.21M -1.17M
Other Working Capital -19.24M -93.76M -54.44M -105.29M -6.95M 13.10M -0.66M 3.83M -2.30M -3.86M
Other Non-Cash Items -46.06M -47.60M -122.15M 231.97M 21.77M 74.72M 139.21M 11.06M -35.36M -1.58M
Net Cash from Operating Activities -39.73M -82.77M -100.13M 24.50M 92.35M -7.62M 92.12M 62.65M 41.24M 24.37M
Capital Expenditures (PPE) -155.13M -240.77M -180.17M -211.40M -107.65M -54.09M -36.26M -11.36M -7.15M -5.41M
Acquisitions (Net) -26.71M -832.76M -0.03M -921.18M -236.91M -840.74M -16.76M -48.25M -39.96M -30.56M
Purchases of Investments -1,424.25M -35.19M -975.53M 0.00M -130.11M -43.10M -727.95M -17.36M -2.90M -0.65M
Sales / Maturities of Investments 1,397.14M 595.56M 1,586.40M 0.00M -96.83M 277.39M 29.40M -6.05M 25.80M 0.00M
Other Investing Activities 463.69M 2,511.08M -6.08M -361.42M 91.83M 29.10M -29.40M -6.35M -6.27M -0.86M
Net Cash from Investing Activities 254.73M 2,114.89M 424.59M -1,493.99M -479.68M -631.44M -780.96M -77.27M -24.92M -36.62M
Net Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Long-Term Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Short-Term Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock Issuance 0.00M 0.00M 0.00M 0.00M 591.90M 589.60M 895.18M 0.00M 0.00M 0.00M
Common Stock Repurchased 119.75M -438.40M -53.14M -394.71M -1.73M -0.93M 0.00M 0.00M 0.00M 0.00M
Preferred Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Dividends Paid 0.00M 0.00M 0.00M 0.00M -498.43M -97.57M -85.00M -75.05M -13.49M -5.22M
Common Dividends Paid 0.00M 0.00M 0.00M 0.00M -498.43M -97.57M -85.00M -75.05M -13.49M -5.22M
Preferred Dividends Paid 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Financing Activities -188.83M 986.21M -317.82M 1,243.46M 1,261.08M 773.79M 819.74M 86.15M 0.85M 10.04M
Net Cash from Financing Activities -188.83M 986.21M -317.82M 1,243.46M 762.65M 676.21M 734.74M 11.10M -12.64M 4.83M
Effect of FX on Cash -1.59M 16.58M -1.42M 12.77M 0.19M -0.56M -34.44M 0.00M 0.00M 0.00M
Net Change in Cash 24.57M 61.06M 5.22M -213.27M 375.51M 36.60M 11.47M -3.52M 3.68M -7.42M
Cash at Beginning of Period 1,600.04M 2,057.47M 211.14M 424.41M 48.90M 12.30M 0.83M 4.36M 0.68M 8.11M
Cash at End of Period 1,624.61M 2,118.53M 216.36M 211.14M 424.41M 48.90M 12.30M 0.83M 4.36M 0.68M
Operating Cash Flow -39.73M -82.77M -100.13M 24.50M 92.35M -7.62M 92.12M 62.65M 41.24M 24.37M
Capital Expenditure -155.13M -240.77M -180.17M -211.40M -107.65M -54.09M -36.26M -11.36M -7.15M -5.41M
Free Cash Flow -194.86M -323.54M -280.30M -186.90M -15.30M -61.71M 55.87M 51.29M 34.08M 18.96M

Free Cash Flow

Metric TTM TTM-1 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31
EBITDA 505.68M 410.87M 549.08M 181.76M 265.21M 112.68M 76.81M 85.91M 52.78M 46.69M
(-) Tax Adjustment 176.99M 67.48M 192.18M 16.30M 92.82M 39.44M 13.69M 29.41M 10.49M 7.45M
(-) Change In Working Capital -302.42M -263.55M -360.95M -299.06M -129.31M -129.49M -50.99M -30.94M -24.04M -32.55M
(-) Capital Expenditure -155.13M -240.77M -180.17M -211.40M -107.65M -54.09M -36.26M -11.36M -7.15M -5.41M
Unlevered Free Cash Flow 475.98M 366.16M 537.69M 253.12M 194.05M 148.63M 77.84M 76.08M 59.18M 66.38M
(-) Net Interest Income After Taxes -309.55M -229.77M -125.61M -255.68M -56.26M -64.23M -8.04M -7.35M -0.07M -0.32M
Net Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Levered Free Cash Flow 785.52M 595.93M 663.30M 508.80M 250.31M 212.86M 85.88M 83.43M 59.25M 66.69M