Picpay Holdings Netherlands N.V. Class A Common Shares (PICS) Fair Value & Analysis
Technology · US · Market cap $1.4B
Picpay Holdings Netherlands N.V. Class A Common Shares
PICS · US
Strengths
Risks
Fair value as of: Aug 21, 2026
From 7 valuation models · updated today
Fair value updated Aug 21, 2026, revised from $36.73 to $12.87 (−65.0%) since Aug 13, 2026. Share price −18.8% over the past month.
Below-average quality, screening 28% undervalued on our models.
What matters now
- The model range is unusually wide ($9.40 to $26.33). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid quality (45/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (7 months)
White line = price, green steps = our fair value per fiscal year. As of Aug 21, 2026.
How to read this chart
7‑month range $9.03 – $19.00 · fair‑value band $9.40 – $26.33 · the $10.05 price screens below the $12.87 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Aug 21, 2026.
Analysis
Picpay Holdings Netherlands N.V. Class A Common Shares (PICS) currently trades at $10.05, while our model-based Fair Value estimate is $12.87, implying the stock looks roughly 28.1% undervalued today. The Quality Score stands at 45/100 (below-average quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, Picpay Holdings Netherlands N.V. Class A Common Shares generated revenue of $11.7B at a net margin of 10.0%. Revenue grew 70.2% year over year. It earns a return on equity of 30.7%. The balance sheet holds a net cash position of $2.0B. Fundamentals as of Aug 21, 2026
Our scenario range runs from $9.40 (bear case) to $26.33 (bull case); at $10.05, the current price sits within 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 50% below its 52-week high and 21% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -59% fair-value upside, at 28%, PICS screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.
All 7 models by family
Widest divergence: Earnings-Based ($292.02) versus Asset-Based ($20.02). Highest evidence: P/E Multiple (63).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 42 · Market factors (momentum, volatility) 10
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.
About the company
PicS N.V. operates as a digital financial services company that provides digital wallet and application for individuals and businesses in Brazil.
Full company description
PicS N.V. operates as a digital financial services company that provides digital wallet and application for individuals and businesses in Brazil. The company offers a range of transactional products for its consumers, including Pix, an instant payment system, peer-to-peer between PicPay accounts, bill payments, payroll portability, global account, and a payment assistant that helps consumers organize, centralize, and settle bills through an integrated hub. The company also provides multipurpose cards; personal loans; instalment payments; payroll loans for public servants, retirees, and pensioners; private payroll loans for formally employed workers; and access to the FGTS annual birthday withdrawal program. In addition, it offers digital insurance distribution platform with products, such as digital wallet insurance, PicPay Card bill protection, credit life insurance, smartphone protection, life insurance, home insurance, and others, as well as provides a range of products to various investor profiles and financial goals. Further, the company offers a portfolio of products in QR code payments for small and medium-sized businesses; banking services; corporate benefits and salary advances; PicPay Shop that offers consumers to purchase a range of products and services; and PicPay Ads, an advertising platform designed to enable brands to reach engaged consumer base through contextualized placements within the app. PicS N.V. was formerly known as Picpay Holdings Netherlands B.V. The company was founded in 2012 and is based in São Paulo, Brazil. PicS N.V. is a subsidiary of Jf International B.v.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Picpay Holdings Netherlands N.V. Class A Common Shares reported revenue of R$6.3B in FY2025 versus R$1.2B in FY2021, a compound +50.5%/yr. Reported net income was R$1.1B in FY2025.
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Peer Group
Software - Infrastructure · 375 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.
Valuation Multiples vs Software - Infrastructure median · lower = cheaper
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.
Insider activity: 66/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Microsoft Corporation MSFT | $506.06 | $365.74 | -28% |
| Oracle Corporation ORAC | C$7.22 | C$2.34 | -68% |
| Fortinet, Inc FTNT | $152.85 | $61.46 | -60% |
| Synopsys, Inc 1SNPS | €347.50 | €90.31 | -74% |
| Block, Inc XYZ | A$111.01 | A$70.69 | -36% |
| Range Intelligent Computing Technology Group 300442 | ¥67.70 | ¥30.89 | -54% |
| Oracle Financial Services Software Limited OFSS | ₹11,679 | ₹6,897 | -41% |
| 360 Security Technology Inc 601360 | ¥9.58 | ¥1.05 | -89% |
| One97 Communications Limited PAYTM | ₹1,546 | ₹241.68 | -84% |
| PT GoTo Gojek Tokopedia Tbk GOTO | 50.00 IDR | 20.41 IDR | -59% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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