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Positivo Tecnologia S.A (POSI3) Fair Value & Analysis

Technology · BR · Market cap R$552M (≈ $106M) · ISIN BRPOSIACNOR9

PT Positivo Tecnologia S.A POSI3 · SA
PriceR$3.36
Fair ValueR$3.25
Upside-3.3%
Quality52/100
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Strengths

Moderate debt · generates free cash flow
Ranks above peers (9/15)

Risks

!Weak Growth (revenue 5y +11.3 %/yr)
!Thin margins · 0.3% net margin
!Narrow moat 31/100
!Weak on valuation: 29 out of 100
Weak Growth (revenue 5y +11.3 %/yr)
Thin margins · 0.3% net margin
Moderate debt · generates free cash flow
4.51% dividend yield
Ranks above peers (9/15)
Narrow moat 31/100
Evidence: High Range R$1.96 – R$3.65 Share as image

Fair value as of: Aug 13, 2026

From 25 valuation models · updated 16 days ago

Fair value updated Aug 13, 2026, revised from R$4.91 to R$3.25 (−33.8%) since Jul 16, 2026. Share price −5.4% over the past month.

A solid business, currently priced close to our fair value.

What runs behind every stock

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

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What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (R$1.96 to R$3.65) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

R$12.06 R$3.28 Fair Value R$3.25 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$3.28 – R$12.06 · fair‑value band R$1.96 – R$3.65 · the R$3.36 price screens above the R$3.25 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

Positivo Tecnologia S.A (POSI3) currently trades at R$3.36, while our model-based Fair Value estimate is R$3.25, implying the stock looks roughly 3.3% fairly valued today. The Quality Score stands at 52/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Positivo Tecnologia S.A generated revenue of R$3.4B at a net margin of 0.3%. Revenue grew 3.6% year over year. It earns a return on equity of 0.8%. Net debt stands at R$678M. Fundamentals as of Aug 13, 2026

Our scenario range runs from R$1.96 (bear case) to R$3.65 (bull case); at R$3.36, 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 30% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -53% fair-value upside, at -3%, POSI3 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.

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
Growth DCF R$16.74 R$22.94 R$30.43 80
Residual Income R$7.26 R$6.66 R$4.23 76
Rev-Margin DCF R$13.64 R$20.89 R$28.95 74
All 25 models by family
DCF Models
FCF DCF R$16.51 R$23.46 R$32.32 38
Owner Earnings R$3.00 R$4.72 R$6.92 31
5Y Revenue Exit R$13.64 R$20.66 R$29.28 39
5Y EBITDA Exit R$20.79 R$33.62 R$48.16 41
5Y P/E Exit R$6.58 R$7.85 R$8.98 38
10Y Revenue Exit R$14.32 R$20.52 R$28.22 36
10Y EBITDA Exit R$18.79 R$28.61 R$41.02 37
10Y P/E Exit R$10.60 R$12.53 R$14.47 35
Earnings-Based
Graham-Dodd R$0.4200 R$1.13 R$1.47 54
PEG = 1.0 R$0.2200 R$0.3100 R$0.4000 46
EPV R$9.58 R$11.09 R$12.34 59
Dividend Discount
Gordon GGM R$2.23 R$4.01 R$5.53 70
DDM Multi-Stage R$2.23 R$3.25 R$4.20 61
Multiples
P/E Multiple R$1.31 R$1.75 R$2.18 63
P/S Multiple R$0.8000 R$1.06 R$1.33 58
P/B Multiple R$0.8000 R$1.06 R$1.33 55
EV/EBIT R$26.13 R$35.33 R$44.52 53
EV/EBITDA R$27.29 R$36.87 R$46.45 54
EV/Revenue R$12.49 R$18.47 R$24.45 43
Asset-Based
NCAV (Graham) R$5.69 R$7.63 R$11.38 50
Growth DCF
Growth DCF R$16.74 R$22.94 R$30.43 80
Rev-Margin DCF R$13.64 R$20.89 R$28.95 74
Economic Profit
Residual Income R$7.26 R$6.66 R$4.23 76
ROIC Compounder R$9.58 R$11.09 R$12.93 72
Growth Earnings
Growth-Adj P/E R$1.01 R$1.44 R$1.87 68

Widest divergence: Growth DCF (R$20.89) versus Earnings-Based (R$1.13). Highest evidence: Growth DCF (80).

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Key figures & financial health

P/E ratio 48.0
P/S ratio 0.12 P/E × margin
EPS (TTM) R$0.0700 price ÷ EPS = P/E 48.0
Dividend yield 4.8%
Net margin 0.3% FY2025
Return on equity 0.8% TTM
More key figures
Profitability
Return on assets (EBIT) 8.9% avg 5y
Operating margin 6.5% TTM
Growth
Revenue (TTM) R$3.4B TTM
Revenue growth (YoY) +3.6% 3y avg -8.6%
EPS growth (YoY) +74.4%
Balance sheet & cash flow
Free cash flow R$274M FY2025
Net debt R$678M FY2025 · ≈ 2.5 yrs of FCF

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

Quality Score breakdown

Overall quality 52/100

Of which business quality 52 · Market factors (momentum, volatility) 33

Profitability 27
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 70
Earnings quality: real cash, not paper profit
Fin. Strength 35
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 8
Distance to the 52-week high (market factor)
Net Issuance 83
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

Positivo Tecnologia S.A., together with its subsidiaries, develops, manufactures, sells, and distributes hardware, software, and information technology (IT) solutions in Brazil and internationally. The company operates through Consumer, Public Institutions, and Corporate segments.

Full company description

Positivo Tecnologia S.A., together with its subsidiaries, develops, manufactures, sells, and distributes hardware, software, and information technology (IT) solutions in Brazil and internationally. The company operates through Consumer, Public Institutions, and Corporate segments. It offers computers, smartphones, tablets, accessories, smart home and environment devices, office products, electronic security devices, servers, mobile payment terminals, payment machines, and IT infrastructure products; education technology solutions, including self-service kiosks, data collection devices for demographic surveys, and electronic voting machines; and medical, laboratory, and communication equipment. The company also engages in the rental of IT and mobility (hardware as a service) equipment; provision of IT technical support and managed IT services; sale of pedagogic application systems and school administration products; technical-pedagogical planning and support; and representation, sale, implementation, training, support, and technical assistance for equipment, as well as for technical, technological, and scientific teaching systems. It serves end consumers, residential condominiums, businesses, schools, and public institutions. The company was formerly known as Positivo Informática S.A. and changed its name to Positivo Tecnologia S.A. in April 2017. Positivo Tecnologia S.A. was incorporated in 1989 and is headquartered in Curitiba, Brazil.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Positivo Tecnologia S.A reported revenue of R$3.4B in FY2025 versus R$3.4B in FY2021, a compound −0.1%/yr. Reported net income was R$8.6M in FY2025, compounding −54.4%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
R$3.4B
Latest YoY
−9.0%
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.
−8.6%
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.
+11.3%
Avg. revenue growth/yr (22Y) 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.
+18.1%
Value creation/yr (5Y, in BRL) Earnings growth per share (CAGR 5 years) 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.
−41.6% (-46.4 + 4.8)
Revenue −0.1%/yr
FY21 R$3.4B
FY22 R$4.4B
FY23 R$3.9B
FY24 R$3.7B
FY25 R$3.4B
Net income −54.4%/yr
FY21 R$200M
FY22 R$303M
FY23 R$247M
FY24 R$80.4M
FY25 R$8.6M
Character of growth · EPS growth decomposed (2014-2025) +17.5 % p.a.
Revenue per share +1.8 pp

of which total revenue +7.6 pp · buybacks/dilution −5.7 pp

EBIT margin +10.0 pp
Tax rate −0.6 pp
Residual (interest, one-offs) +6.2 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Positivo Tecnologia S.A Fair Value". https://www.fairvalue-calculator.com/stock/POSI3

Peer Group

Computer Hardware · 229 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 52 · Above median
Fair Value upside −3% · Above median
Return on equity (TTM) 1% · Below median
Return on assets 4% · Above median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 7% · Above median
Revenue growth 4% · Below median
Dividend yield (TTM) 5.4% · Top 25%
Debt / equity 0.52× · Higher than 75% of peers

Valuation Multiples vs Computer Hardware median · lower = cheaper

P/E (TTM) 48.0× · Pricier than median
P/B 0.35× · Cheaper than 75% of peers
P/S (TTM) 0.16× · Cheaper than 75% of peers
P/FCF 0.4× · Cheaper than 75% of peers
EV/EBITDA 2.8× · Cheaper than 75% of peers
PEG 2.51× · Pricier than median

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
VALUE29 · sector 0
FUTURE18 · sector 59
PAST3 · sector 23
HEALTH74 · sector 97
DIVIDEND100 · sector 37

Insider activity: 40/100

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 Computer Hardware stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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HP Inc HPQ $30.52 $48.62 +59%
Inspur Electronic Information Industry Co 000977 ¥73.79 ¥44.02 -40%

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Frequently asked questions

Is Positivo Tecnologia S.A (POSI3) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of R$3.25 versus a price of R$3.36, about −3% (fairly valued).
What is the fair value of POSI3?
Our model-based fair value for Positivo Tecnologia S.A is R$3.25 (as of Aug 13, 2026), built from audited fundamentals. The current price: R$3.36.
What is the quality score of POSI3?
Positivo Tecnologia S.A has a Quality Score of 52/100. 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 Positivo Tecnologia S.A (POSI3)?
Positivo Tecnologia S.A reported trailing-twelve-month revenue of about R$3.4B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of POSI3?
The net profit margin of Positivo Tecnologia S.A is about 0.3%, meaning it keeps roughly 0.3% of revenue as net income. Based on the latest reported figures.
Does Positivo Tecnologia S.A pay a dividend?
Positivo Tecnologia S.A currently shows a dividend yield of about 4.80% relative to its recent price (as of Aug 13, 2026).

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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