Porto Seguro S.A (PSSA3) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Porto Seguro S.A stock BRL 38.21, price BRL 44.35, that is 13.8% below the price, quality 60 out of 100. Rating: overvalued. Calculated from audited financials with 6 of our 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. As of Nov 6, 2026.
How to read this chart
60‑month range R$13.79 – R$55.45 · fair‑value band R$28.64 – R$59.06 · the R$44.35 price screens above the R$38.21 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Porto Seguro S.A., together with its subsidiaries, provides a range of insurance products and services in Brazil and Uruguay.
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It offers auto, residential, travel, cell phone, life, motorcycle, notebook and tablet, photo and video, smart and games, bike, real estate, green card, bail, and moving insurance products, as well as reinsurance, combined protection, professional civil liability, machines and equipment, events, agribusiness, and taxi insurance.
The company also engages in the management and market of capitalization bonds; granting loans and financing for consumption and working capital; operation of credit cards; management of consortium groups for the acquisition of movable and immovable properties; distribution of investment fund units; maintenance, development and licensing of programs; installation of heating systems, natural gas and liquefied petroleum gas; operation of oncology, hematology, and radiotherapy centers; sale and distribution of automotive parts; and administration and management of securities portfolios, investment funds, and financial resources.
In addition, it provides technical insurance brokerage services; services for obtaining credit and consumer financing; technical support for software and other information technology services; intermediation and agency services for services and businesses; debt collection and credit information services; administrative advisory services to physicians and health insurance companies; consulting and advisory services in occupational health, workplace safety, ergonomics, and outpatient services; electronic protection and monitoring related services; and telemarketing and general customer services.
The company was founded in 1945 and is based in São Paulo, Brazil. Porto Seguro S.A. operates as a subsidiary of Porto Seguro Itaú Unibanco Participações S.A.
Stock analysis
Porto Seguro S.A (PSSA3) currently trades at R$44.35, while our model-based Fair Value estimate is R$38.21, 14% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of R$47.25 per share, and 1 of the 6 models we run sit above the R$44.35 price.
Bear case: the Asset-Based group reads lowest at R$12.38, and 5 of the 6 models stay below the price. Data coverage for this calculation is high.
Scenario range: R$28.64 (bear) to R$59.06 (bull), the price of R$44.35 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 60/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Porto Seguro S.A reported revenue of R$42.7B in FY2025 versus R$22.3B in FY2021, a compound +17.7%/yr. Reported net income was R$3.4B in FY2025, compounding +21.6%/yr from FY2021.
Key figures
Market cap R$28.8B (≈ $5.2B) Mid · P/E ratio 7.8 · P/S ratio 0.64 · EPS (TTM) R$5.68 · Dividend yield 4.3% · Net margin 8.1% · Return on equity 24.2% · Return on assets (EBIT) 6.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 59 out of 100 (low confidence).
What moves the price
The share trades about 20% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −31% fair-value upside, at −14%, PSSA3 screens cheaper than that median.
Fair Value models
BearR$28.64Fair Value R$38.21BullR$59.06
Price R$44.35 · Downside -13.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (R$4.86 per share) are deliberately not added.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.
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.81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+30.8%
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.
+20.5%
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.
+16.7%
Start year 2020 (pandemic). Over 10 years: +10.0% a year
Revenue growth 25 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.
+13.6%
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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. Basis: EBIT basis. 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.
+22.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+17.9%
Dividend (yield on the price)4.3%
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.16.8% vs 13.9%, steady
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.13% → 11%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as the company has delivered so far and more than analysts expect.
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).
+18.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (Brazil: IMF forecast 3.3% a year to 2030, 5.4% from 2016 to 2025) that is about +15.0% a year for the price and −0.6% for the forecasts.
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.Insurance - Diversified · 73 stocks
Beats the industry median on 10/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside−13.8% · Above median
Profitability
Return on equity (12 months)24.2% · Top 25%
Return on assets6.1% · Top 25%
Net margin (12 months)8.1% · Below median
Operating margin (12 months)12.4% · Below median
Growth and dividend
Revenue growth (quarter YoY)9.6% · Above median
Dividend yield (12 months)4.3% · Above median
Balance sheet
Debt / equity0.36× · Above median
Valuation Multiplesvs Insurance - Diversified median · lower = cheaper
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Is Porto Seguro S.A (PSSA3) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of R$38.21 versus a price of R$44.35, about 14% lower (overvalued).
What is the fair value of PSSA3?
Our model-based fair value for Porto Seguro S.A is R$38.21 (as of Nov 6, 2026), built from audited fundamentals. The current price: R$44.35.
What is the quality score of PSSA3?
Porto Seguro S.A has a Quality Score of 60/100. 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 Porto Seguro S.A (PSSA3)?
Our model-based price target is the fair value of R$38.21 (as of Nov 6, 2026) from 6 valuation models. Cautious scenario R$28.64, optimistic scenario R$59.06. It is a calculation from audited fundamentals, not an analyst target.
What is the Porto Seguro S.A stock forecast for 2026?
Our models put fair value at R$38.21, about 14% lower versus a price of R$44.35 (overvalued). Cautious scenario R$28.64, optimistic scenario R$59.06. The calculation is refreshed regularly with new filings.
What is the revenue of Porto Seguro S.A (PSSA3)?
Porto Seguro S.A reported trailing-twelve-month revenue of about R$45.3B (latest available figure, as of Nov 6, 2026).
Does Porto Seguro S.A pay a dividend?
Porto Seguro S.A currently shows a dividend yield of 4.25% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Porto Seguro S.A (PSSA3)?
Porto Seguro S.A has a dividend yield of 4.3%.
What growth is priced into Porto Seguro S.A (PSSA3)?
For today's price to be fair in a discounted-cash-flow model, Porto Seguro S.A would have to grow free cash flow by +18.8 % per year for five years (discount rate 11.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +16.7 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of PSSA3 use?
Our models discount Porto Seguro S.A at 11.2 %: a base by market capitalisation (mid), damped by beta 0.38, 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 Porto Seguro S.A that is +18.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.2 %) and the same formula as our fair value.
How much growth has Porto Seguro S.A (PSSA3) delivered so far?
Over the past 5 years revenue at Porto Seguro S.A grew +16.7 % a year. The price currently implies free-cash-flow growth of +18.8 % per 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 Porto Seguro S.A (PSSA3) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into Porto Seguro S.A (+18.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Porto Seguro S.A (PSSA3)?
The free-cash-flow yield on the price is 4.27 %: that much free cash flow Porto Seguro S.A produces per unit of market value. When it exceeds the discount rate of our models (11.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Porto Seguro S.A (PSSA3)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Porto Seguro S.A it is R$38.21 per share (as of Nov 6, 2026), against a price of R$44.35. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Porto Seguro S.A stock overvalued or undervalued in 2026?
As of Nov 6, 2026, PSSA3 trades above its calculated fair value: price R$44.35, fair value R$38.21, a gap of about −14% (overvalued). 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 PSSA3?
No. The price is what the market pays today (R$44.35); the fair value is what the company's own numbers justify (R$38.21). For Porto Seguro S.A the two are R$6.14 per share apart. That gap is exactly why we show both numbers side by side.
How much is Porto Seguro S.A worth?
The market values Porto Seguro S.A at about R$28.8B (market capitalisation, as of Nov 6, 2026). Per share that is R$44.35; our models calculate a fair value of R$38.21 per share.
What do the bullish and bearish scenarios say about PSSA3?
Our models span a range for Porto Seguro S.A: cautious scenario R$28.64, base R$38.21, optimistic R$59.06 per share (as of Nov 6, 2026, price R$44.35). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PSSA3?
Porto Seguro S.A trades at a price-to-earnings ratio of 7.8 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R$38.21 is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2021 to 2025), reported earnings: 9.0. Other multiples: PEG 0.4, P/B 1.8, P/S 0.6, EV/EBITDA 6.1.
What is the PEG ratio of PSSA3?
The PEG ratio of Porto Seguro S.A is 0.39 (P/E divided by earnings growth, as of Nov 6, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Porto Seguro S.A (PSSA3)?
Balance-sheet figures for Porto Seguro S.A (as of Nov 6, 2026): return on equity 24.2%, debt of 0.36 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is PSSA3 from its 52-week high?
Porto Seguro S.A trades at R$44.35, about 20% below its 52-week high of R$55.45 and 3% above the low of R$43.04 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of R$38.21 is for.
Which stocks are comparable to Porto Seguro S.A?
From the same area (Financial Services) we also value Allianz SE, Zurich Insurance Group, AXA SA, Assicurazioni Generali S.p.A, 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 Porto Seguro S.A stock attractive at the current price?
The data as of Nov 6, 2026: price R$44.35, calculated fair value R$38.21 (−14%), Quality Score 60/100, from 6 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 PSSA3 calculated?
We run Porto Seguro S.A through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of R$38.21 builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. Porto Seguro S.A itself currently trades above fair value. 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 Porto Seguro S.A (PSSA3)?
The closing price on Nov 6, 2026 was R$44.35. Our model-based fair value is R$38.21, about 14% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Porto Seguro S.A right now?
Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (R$28.64 to R$59.06) leaves room in how you read the outcome. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Porto Seguro S.A (PSSA3) come from?
Earnings per share at Porto Seguro S.A grew +12.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +9.3 %, EBIT margin +3.3 %, tax rate +0.1 %, residual (interest, one-offs) −0.2 %. 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 Porto Seguro S.A
How large is the market capitalisation of Porto Seguro S.A (PSSA3)?
The market capitalisation of Porto Seguro S.A is R$28.8B (≈ $5.2B). 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 Porto Seguro S.A (PSSA3)?
The price-to-sales ratio of Porto Seguro S.A is 0.64 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Porto Seguro S.A (PSSA3)?
Earnings per share at Porto Seguro S.A are R$5.68 (price ÷ EPS = P/E 7.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Porto Seguro S.A (PSSA3)?
The dividend yield of Porto Seguro S.A is 4.3% (payout 33.2%). 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 Porto Seguro S.A (PSSA3)?
The net margin of Porto Seguro S.A is 8.1% (last twelve months). 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 Porto Seguro S.A (PSSA3)?
The return on equity (ROE) of Porto Seguro S.A is 24.2% (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 Porto Seguro S.A (PSSA3)?
On an EBIT basis the return on assets of Porto Seguro S.A is 6.4% (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 Porto Seguro S.A (PSSA3)?
The operating margin of Porto Seguro S.A is 12.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Porto Seguro S.A (PSSA3)?
Revenue at Porto Seguro S.A is growing +9.6% versus a year earlier (3y avg +20.5%). 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 Porto Seguro S.A (PSSA3)?
Earnings per share at Porto Seguro S.A are growing +0.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Porto Seguro S.A (PSSA3) hold?
Porto Seguro S.A holds more cash than debt, R$1.2B net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 6, 2026