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JSL S.A (JSLG3) Fair Value & Analysis

Industrials · BR · Market cap R$1.6B (≈ $304M) · ISIN BRJSLGACNOR2

What is JSL S.A really worth?

JS JSL S.A JSLG3 · SA
PriceR$5.48
Fair ValueR$8.30
Upside+51.5%
Quality50/100

A solid business, trading 34% below our fair value of R$8.30.

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Strengths

Ranks above peers (9/14)

Risks

!Mixed Growth (revenue 5y +27.8 %/yr)
!Loss over the last twelve months · -1.0% net margin · fiscal year 2025 0.8%
!High debt · generates free cash flow
!Narrow moat 20/100
!Evidence only medium, so the estimate is less certain
!Weak on future: 12 out of 100
Evidence: Medium Range R$6.23 – R$10.39

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 18 days ago

Fair value updated Aug 13, 2026, revised from R$6.01 to R$8.30 (+38.1%) since Jul 18, 2026. Share price −2.1% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price is below even our cautious bear case (R$6.23). The market is more pessimistic than our downside scenario.
  • Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (5 years)

R$9.83 R$2.96 Fair Value R$8.30 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range R$2.96 – R$9.83 · fair‑value band R$6.23 – R$10.39 · the R$5.48 price screens below the R$8.30 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

JSL S.A (JSLG3) currently trades at R$5.48, while our model-based Fair Value estimate is R$8.30, implying the stock looks roughly 34.0% undervalued today. The Quality Score stands at 50/100 (solid quality), in the Industrials sector. Bull case: the Growth DCF group reads highest at a median of R$48.28 per share, and 17 of the 26 models we run sit above the R$5.48 price. Bear case: the Asset-Based group reads lowest at R$3.11, and 9 of the 26 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, JSL S.A generated revenue of R$9.7B at a net margin of −1.0%. Revenue grew 2.3% year over year. It earns a return on equity of −6.4%. Net debt stands at R$6.8B. Fundamentals as of Aug 13, 2026

Our scenario range runs from R$6.23 (bear case) to R$10.39 (bull case); at R$5.48, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 38% below its 52-week high and 43% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −5% fair-value upside, at 52%, JSLG3 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income R$3.51 R$3.60 R$3.48 76
FCF DCF R$22.83 R$55.07 R$110.43 75
Growth DCF R$21.69 R$49.72 R$92.03 74
All 26 models by family
DCF Models
FCF DCF R$22.83 R$55.07 R$110.43 75
Owner Earnings R$10.57 R$34.13 R$72.62 70
5Y Revenue Exit R$19.02 R$49.21 R$91.14 68
5Y EBITDA Exit R$35.65 R$85.11 R$149.54 71
5Y P/E Exit R$4.86 R$11.50 68
10Y Revenue Exit R$18.76 R$46.91 R$92.03 62
10Y EBITDA Exit R$30.15 R$71.59 R$138.75 64
10Y P/E Exit R$7.16 R$16.41 R$28.32 61
Earnings-Based
Graham-Dodd R$1.95 R$10.53 R$14.60 63
Lynch FV R$2.92 R$4.17 R$5.42 61
PEG = 1.0 R$2.92 R$4.17 R$5.42 57
EPV R$9.58 R$13.51 R$16.78 73
Dividend Discount
Gordon GGM R$2.90 R$5.23 R$7.20 68
DDM Multi-Stage R$2.90 R$4.77 R$5.58 67
Multiples
P/E Multiple R$4.51 R$6.01 R$7.52 63
P/S Multiple R$3.65 R$4.87 R$6.08 58
P/B Multiple R$3.65 R$4.87 R$6.08 55
EV/EBIT R$31.79 R$48.79 R$65.79 65
EV/EBITDA R$47.71 R$70.02 R$92.33 66
EV/Revenue R$17.18 R$32.79 R$48.39 52
Asset-Based
NCAV (Graham) R$2.32 R$3.11 R$4.64 54
Growth DCF
Growth DCF R$21.69 R$49.72 R$92.03 74
Rev-Margin DCF R$19.02 R$48.28 R$88.03 68
Economic Profit
Residual Income R$3.51 R$3.60 R$3.48 76
ROIC Compounder R$11.77 R$21.16 R$32.39 69
Growth Earnings
Growth-Adj P/E R$4.27 R$6.11 R$7.94 67

Widest divergence: Growth DCF (R$48.28) versus Asset-Based (R$3.11). Highest evidence: Residual Income (76).

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Key figures & financial health

P/S ratio 0.18 TTM
EPS (TTM) R$−0.3300
Net margin 0.8% FY2025
Return on equity −6.4% TTM
Return on assets (EBIT) 9.3% avg 5y
Operating margin 3.2% TTM
More key figures
Growth
Revenue (TTM) R$9.7B TTM
Revenue growth (YoY) +2.3% 3y avg +17.0%
EPS growth (YoY) −54.6%
Balance sheet & cash flow
Free cash flow R$1.1B FY2025
Net debt R$6.8B FY2025 · ≈ 6.4 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 49 · Market factors (momentum, volatility) 43

Profitability 30
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 73
Earnings quality: real cash, not paper profit
Fin. Strength 6
Balance sheet, leverage, solvency risk
Investment 77
Disciplined investing over empire-building
Low Volatility 52
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 49
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

JSL S.A., together with its subsidiaries, provides logistics services in Brazil. It also offers cargo transportation, internal logistics, storage, urban distribution, commodity logistics, and other charter services.

Full company description

JSL S.A., together with its subsidiaries, provides logistics services in Brazil. It also offers cargo transportation, internal logistics, storage, urban distribution, commodity logistics, and other charter services. In addition, the company provides road transport services comprising intercity, interstate, and international cargo transportation services; chartered passenger transportation; logistical organization cargo transportation; and storage related services. Further, it manufactures plants and related activities. JSL S.A. was founded in 1956 and is headquartered in São Paulo, Brazil. The company is a subsidiary of Simpar S.A.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

JSL S.A reported revenue of R$9.6B in FY2025 versus R$4.3B in FY2021, a compound +22.4%/yr. Reported net income was R$81.7M in FY2025, compounding −25.9%/yr from FY2021.

Growth Quality 90/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
R$9.6B
Latest YoY
+6.5%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+17.0%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+27.8%
Avg. revenue growth/yr (18Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.2%
Value creation/yr (5Y, in BRL) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year. Measured in BRL: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+16.9% (16.9 + 0.0)
Revenue +22.4%/yr
FY21 R$4.3B
FY22 R$6.0B
FY23 R$7.6B
FY24 R$9.1B
FY25 R$9.6B
Net income −25.9%/yr
FY21 R$271M
FY22 R$194M
FY23 R$352M
FY24 R$207M
FY25 R$81.7M

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Cite: Fair Value Calculator (2026). "JSL S.A Fair Value". https://www.fairvalue-calculator.com/stock/JSLG3

Peer Group

Integrated Freight & Logistics · 216 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 50 · Below median
Fair Value upside +51% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) −1% · Bottom 25%
Operating margin (TTM) 3% · Below median
Revenue growth 2% · Above median
Dividend yield (TTM) 33.8% · Top 25%
Debt / equity 4.33× · Higher than 75% of peers

Valuation Multiples vs Integrated Freight & Logistics median · lower = cheaper

P/B 0.23× · Cheaper than 75% of peers
P/S (TTM) 0.03× · Cheaper than 75% of peers
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 3.8× · Cheaper than 75% of peers
PEG 0.35× · Cheaper than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 43
FUTURE12 · sector 8
PAST0 · sector 26
HEALTH0 · sector 94
DIVIDEND100 · sector 58

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Integrated Freight & Logistics stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
United Parcel Service, Inc UPS $105.33 $103.34 −2%
FedEx Corporation FDX $330.88 $347.68 +5%
Deutsche Post AG DHL €56.14 €53.18 −5%
DSV A/S DSV kr 1,358 kr 712.57 −48%
Kuehne + Nagel International AG KNIN CHF 219.90 CHF 147.92 −33%
J.B. Hunt Transport Services, Inc JBHT $263.64 $133.80 −49%
S.F. Holding 002352 ¥32.96 ¥48.64 +48%
C.H. Robinson Worldwide, Inc CHRW $150.39 $86.56 −42%
Expeditors International of Washington, Inc EXPD $190.97 $115.95 −39%
ZTO Express (Cayman) Inc ZTO $21.50 $28.62 +33%

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Frequently asked questions

Is JSL S.A (JSLG3) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of R$8.30 versus a price of R$5.48, about +52% upside (undervalued).
What is the fair value of JSLG3?
Our model-based fair value for JSL S.A is R$8.30 (as of Aug 13, 2026), built from audited fundamentals. The current price: R$5.48.
What is the quality score of JSLG3?
JSL S.A has a Quality Score of 50/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of JSL S.A (JSLG3)?
JSL S.A reported trailing-twelve-month revenue of about R$9.7B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of JSLG3?
The net profit margin of JSL S.A is about −1.0%, meaning it is currently running at a net loss. Based on the latest reported figures.
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