Positivo Tecnologia S.A (POSI3) fair value: what the stock is really worth
As of Oct 13, 2026: fair value of Positivo Tecnologia S.A BRL 5.51, price BRL 4.76, upside +15.8%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
60‑month range R$3.28 – R$11.43 · fair‑value band R$4.12 – R$5.51 · the R$4.76 price screens below the R$5.51 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.
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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.
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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.
Stock analysis
Positivo Tecnologia S.A (POSI3) currently trades at R$4.76, while our model-based Fair Value estimate is R$5.51, implying the stock looks roughly 13.6% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of R$17.93 per share, and 17 of the 25 models we run sit above the R$4.76 price.
Bear case: the Earnings-Based group reads lowest at R$1.13, and 8 of the 25 models stay below the price. Data coverage for this calculation is low.
Scenario range: R$4.12 (bear) to R$5.51 (bull), the price of R$4.76 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 52/100 (solid quality), in the Technology sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
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.
Key figures
Market cap R$663M (≈ $132M) · P/E ratio 68.0 · P/S ratio 0.18 · EPS (TTM) R$0.0700 · Dividend yield 3.8% · Net margin 0.3% · Return on equity 0.8% · Return on assets (EBIT) 8.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and 45% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −22% fair-value upside, at 16%, POSI3 screens cheaper than that median.
Fair Value models
BearR$4.12Fair Value R$5.51BullR$5.51
Price R$4.76 · Upside +15.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
FCF DCFR$18.10R$24.52R$32.1778
Growth DCFR$18.24R$23.92R$30.3476
Owner EarningsR$9.80R$13.43R$17.7674
All 25 models by family
DCF Models
FCF DCFR$18.10R$24.52R$32.1778
Owner EarningsR$9.80R$13.43R$17.7674
5Y Revenue ExitR$12.61R$17.58R$23.5370
5Y EBITDA ExitR$17.34R$26.14R$36.0072
5Y P/E ExitR$8.13R$9.47R$10.6469
10Y Revenue ExitR$14.71R$19.28R$24.7465
10Y EBITDA ExitR$17.47R$24.28R$32.6366
10Y P/E ExitR$12.51R$14.55R$16.5862
Earnings-Based
Graham-DoddR$0.4200R$1.13R$1.4763
PEG = 1.0R$0.2200R$0.3100R$0.400055
EPVR$5.93R$6.77R$7.4473
Dividend Discount
Gordon GGMR$1.41R$2.36R$3.0766
DDM Multi-StageR$1.41R$1.99R$2.4965
Multiples
P/E MultipleR$1.31R$1.75R$2.1863
P/S MultipleR$0.8000R$1.06R$1.3357
P/B MultipleR$0.8000R$1.06R$1.3355
EV/EBITR$18.45R$24.94R$31.4465
EV/EBITDAR$19.27R$26.03R$32.8067
EV/RevenueR$8.82R$13.04R$17.2652
Asset-Based
NCAV (Graham)R$5.69R$7.63R$11.3853
Growth DCF
Growth DCFR$18.24R$23.92R$30.3476
Rev-Margin DCFR$12.61R$17.93R$23.9370
Economic Profit
Residual IncomeR$6.95R$6.29R$5.8174
ROIC CompounderR$5.93R$6.77R$7.4469
Growth Earnings
Growth-Adj P/ER$1.01R$1.44R$1.8765
P/S and P/B multiple show the same value here: both are capped by the same earnings anchor (earnings per share times 17), because margin and return on equity do not support the sector multiple.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−9.0%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−8.6%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+11.3%
Start year 2020 (pandemic). Over 10 years: +6.2% a year
Revenue growth 22 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+18.1%
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What shareholders gained per year (last 5 years), in BRL ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. 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.
−42.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−46.4%
Dividend (yield on the price)3.8%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−46.4% vs −10.5%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.14% → 6%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−9.2%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Brazil: IMF forecast 3.3% a year to 2030, 5.4% from 2016 to 2025) that is about −12.1% a year for the price.
Compare Positivo Tecnologia S.A with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Computer Hardware · 209 stocks
Beats the industry median on 9/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score52 · Above median
Fair Value upside+15.8% · Above median
Profitability
Return on equity (12 months)0.8% · Below median
Return on assets5.1% · Above median
Net margin (12 months)0.4% · Below median
Operating margin (12 months)6.5% · Above median
Growth and dividend
Revenue growth3.6% · Below median
Dividend yield (12 months)3.8% · Above median
Balance sheet
Debt / equity0.52× · Highest 25%
Valuation Multiplesvs Computer Hardware median · lower = cheaper
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Is Positivo Tecnologia S.A (POSI3) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of R$5.51 versus a price of R$4.76, about +16% upside (undervalued).
What is the fair value of POSI3?
Our model-based fair value for Positivo Tecnologia S.A is R$5.51 (as of Oct 3, 2026), built from audited fundamentals. The current price: R$4.76.
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 price target for Positivo Tecnologia S.A (POSI3)?
Our model-based price target is the fair value of R$5.51 (as of Oct 3, 2026) from 25 valuation models. Cautious scenario R$4.12, optimistic scenario R$5.51. It is a calculation from audited fundamentals, not an analyst target.
What is the Positivo Tecnologia S.A stock forecast for 2026?
Our models put fair value at R$5.51, about +16% upside versus a price of R$4.76 (undervalued). Cautious scenario R$4.12, optimistic scenario R$5.51. The calculation is refreshed regularly with new filings.
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 Oct 3, 2026).
Does Positivo Tecnologia S.A pay a dividend?
Positivo Tecnologia S.A currently shows a dividend yield of about 3.78% relative to its recent price (as of Oct 3, 2026).
What growth is priced into Positivo Tecnologia S.A (POSI3)?
For today's price to be fair in a discounted-cash-flow model, Positivo Tecnologia S.A would have to grow free cash flow by -9.2 % per year for five years (discount rate 14.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.3 % per year. As of Oct 3, 2026.
What discount rate (WACC) does the fair value of POSI3 use?
Our models discount Positivo Tecnologia S.A at 14.2 %: a base by market capitalisation (micro), damped by beta 0.08, country premium for Brazil. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Positivo Tecnologia S.A that is -9.2 % per year a year over ten years, using the same discount rate (14.2 %) and the same formula as our fair value.
How much growth has Positivo Tecnologia S.A (POSI3) delivered so far?
Over the past 5 years revenue at Positivo Tecnologia S.A grew +11.3 % a year. The price currently implies -9.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Positivo Tecnologia S.A (POSI3) growing?
The median revenue growth in the sector is +10.6 % a year. That is the yardstick for the growth priced into Positivo Tecnologia S.A (-9.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Positivo Tecnologia S.A (POSI3)?
The free-cash-flow yield on the price is 41.39 %: that much free cash flow Positivo Tecnologia S.A produces per unit of market value. When it exceeds the discount rate of our models (14.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Positivo Tecnologia S.A (POSI3)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Positivo Tecnologia S.A it is R$5.51 per share (as of Oct 3, 2026), against a price of R$4.76. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Positivo Tecnologia S.A stock overvalued or undervalued in 2026?
As of Oct 3, 2026, POSI3 trades below its calculated fair value: price R$4.76, fair value R$5.51, a gap of about +16% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of POSI3?
No. The price is what the market pays today (R$4.76); the fair value is what the company's own numbers justify (R$5.51). For Positivo Tecnologia S.A the two are R$0.7500 per share apart. That gap is exactly why we show both numbers side by side.
How much is Positivo Tecnologia S.A worth?
The market values Positivo Tecnologia S.A at about R$663M (market capitalisation, as of Oct 3, 2026). Per share that is R$4.76; our models calculate a fair value of R$5.51 per share.
What do the bullish and bearish scenarios say about POSI3?
Our models span a range for Positivo Tecnologia S.A: cautious scenario R$4.12, base R$5.51, optimistic R$5.51 per share (as of Oct 3, 2026, price R$4.76). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of POSI3?
Positivo Tecnologia S.A trades at a price-to-earnings ratio of 68.0 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R$5.51 is built from several models across several years. Other multiples: PEG 2.5, P/B 0.4, P/S 0.3, EV/EBITDA 4.6.
What is the PEG ratio of POSI3?
The PEG ratio of Positivo Tecnologia S.A is 2.51 (P/E divided by earnings growth, as of Oct 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Positivo Tecnologia S.A (POSI3)?
Balance-sheet figures for Positivo Tecnologia S.A (as of Oct 3, 2026): return on equity 0.8%, debt of 0.52 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is POSI3 from its 52-week high?
Positivo Tecnologia S.A trades at R$4.76, about 6% below its 52-week high of R$5.04 and 45% above the low of R$3.28 (as of Oct 13, 2026). Distance from the high says nothing about value: that is what the fair value of R$5.51 is for.
Which stocks are comparable to Positivo Tecnologia S.A?
From the same area (Technology) we also value Dell Technologies Inc, Arista Networks, Inc, Sandisk Corporation, Seagate Technology Holdings, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Positivo Tecnologia S.A stock attractive at the current price?
The data as of Oct 3, 2026: price R$4.76, calculated fair value R$5.51 (+16%), Quality Score 52/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of POSI3 calculated?
We run Positivo Tecnologia S.A through 25 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of R$5.51, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Positivo Tecnologia S.A currently trades 14 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Positivo Tecnologia S.A (POSI3)?
The closing price on Oct 13, 2026 was R$4.76. Our model-based fair value is R$5.51, about +16% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Positivo Tecnologia S.A right now?
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Where does the earnings growth of Positivo Tecnologia S.A (POSI3) come from?
Earnings per share at Positivo Tecnologia S.A grew +17.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.8 %, EBIT margin +10.0 %, tax rate −0.6 %, residual (interest, one-offs) +5.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Positivo Tecnologia S.A
How large is the market capitalisation of Positivo Tecnologia S.A (POSI3)?
The market capitalisation of Positivo Tecnologia S.A is R$663M (≈ $132M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Positivo Tecnologia S.A (POSI3)?
The price-to-sales ratio of Positivo Tecnologia S.A is 0.18 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Positivo Tecnologia S.A (POSI3)?
Earnings per share at Positivo Tecnologia S.A are R$0.0700 (price ÷ EPS = P/E 68.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Positivo Tecnologia S.A (POSI3)?
The dividend yield of Positivo Tecnologia S.A is 3.8%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Positivo Tecnologia S.A (POSI3)?
The net margin of Positivo Tecnologia S.A is 0.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Positivo Tecnologia S.A (POSI3)?
The return on equity (ROE) of Positivo Tecnologia S.A is 0.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Positivo Tecnologia S.A (POSI3)?
On an EBIT basis the return on assets of Positivo Tecnologia S.A is 8.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Positivo Tecnologia S.A (POSI3)?
The operating margin of Positivo Tecnologia S.A is 6.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Positivo Tecnologia S.A (POSI3)?
Revenue at Positivo Tecnologia S.A is growing +3.6% versus a year earlier (3y avg −8.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Positivo Tecnologia S.A (POSI3)?
Earnings per share at Positivo Tecnologia S.A are growing +74.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Positivo Tecnologia S.A (POSI3) carry?
The net debt of Positivo Tecnologia S.A is R$678M (fiscal year 2025, ≈ 2.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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