Smartfit Escola de Ginástica e Dança S.A (SMFT3) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Smartfit Escola de Ginástica e Dança S.A stock BRL 22.96, price BRL 18.25, upside +25.8%, quality 46 out of 100. Rating: undervalued. Calculated from audited financials with 16 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 7, 2026.
How to read this chart
60‑month range R$9.03 – R$26.01 · fair‑value band R$17.22 – R$28.70 · the R$18.25 price screens below the R$22.96 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 7, 2026.
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Smartfit Escola de Ginástica e Dança S.A. operates a network of Smart Fit gyms in Latin America. The company offers digital fitness services under the Queima Diária brand.
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It operates through owned and franchised units in Brazil, Mexico, Colombia, Chile, Peru, Argentina, Paraguay, Uruguay, Panama, Costa Rica, Dominican Republic, Ecuador, Guatemala, El Salvador and Honduras under the Smart Fit and Bio Ritmo brands.
Smartfit Escola de Ginástica e Dança S.A. was founded in 1996 and is based in São Paulo, Brazil.
Stock analysis
Smartfit Escola de Ginástica e Dança S.A (SMFT3) currently trades at R$18.25, while our model-based Fair Value estimate is R$22.96, implying the stock looks roughly 21% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of R$48.46 per share, and 9 of the 16 models we run sit above the R$18.25 price.
Bear case: the Asset-Based group reads lowest at R$3.40, and 7 of the 16 models stay below the price. Data coverage for this calculation is medium.
Scenario range: R$17.22 (bear) to R$28.70 (bull), the price of R$18.25 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 46/100 (below-average quality), in the Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Smartfit Escola de Ginástica e Dança S.A reported revenue of R$7.2B in FY2025 versus R$1.7B in FY2021, a compound +43.5%/yr. Reported net income was R$639M in FY2025.
Key figures
Market cap R$15.3B (≈ $2.8B) Mid · P/E ratio 16.4 · P/S ratio 1.89 · EPS (TTM) R$1.11 · Net margin 8.5% · Return on equity 11.7% · Return on assets (EBIT) 4.3% (5-year average) · Operating margin 24.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 55 out of 100 (low confidence).
What moves the price
The share trades about 30% below its 52-week high and 18% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at 26%, SMFT3 screens cheaper than that median.
Fair Value models
BearR$17.22Fair Value R$22.96BullR$28.70
Price R$18.25 · Upside +25.8%
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$0.9488 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.52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+29.8%
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.
+35.2%
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.
+42.0%
Start year 2020 (pandemic)
Revenue growth 9 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.
+30.9%
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What shareholders gained per year (last 3 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 3 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.
−15.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−15.4%
Dividend (yield on the price)0.0%
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.−29% → 23%
⚠ Revenue per share shrinking 23.0%/yr over ~7Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
AI conclusion: Smart Fit's main strength lies in ecosystem expansion via TotalPass and digital tools that lift margins with strong club growth and record profitability, while its main weak point is negative free cash flow paired with elevated leverage.
Main risk: Negative free cash flow signals limited pricing resilience that would hit the ability to fund ongoing club growth and the shift to higher-margin services.
Smart Fit is expanding beyond traditional gyms into a broader ecosystem with TotalPass and digital tools that already lift margins and revenue mix. Strong club growth and record profitability sit alongside this shift, yet the valuation reflects skepticism about how much the new lines will matter. Does the market continue to price it mainly as a gym operator or start recognizing the ecosystem potential?
Compare Smartfit Escola de Ginástica e Dança 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.Leisure · 169 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score46 · Below median
Fair Value upside+25.8% · Above median
Profitability
Return on equity (12 months)11.7% · Above median
Return on assets3.0% · Below median
Net margin (12 months)8.5% · Above median
Operating margin (12 months)24.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)21.5% · Top 25%
Balance sheet
Debt / equity1.16× · Highest 25%
Valuation Multiplesvs Leisure median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Smartfit Escola de Ginástica e Dança S.A Fair Value". https://www.fairvalue-calculator.com/stock/SMFT3
Frequently asked questions
Is Smartfit Escola de Ginástica e Dança S.A (SMFT3) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of R$22.96 versus a price of R$18.25, about +26% upside (undervalued).
What is the fair value of SMFT3?
Our model-based fair value for Smartfit Escola de Ginástica e Dança S.A is R$22.96 (as of Nov 7, 2026), built from audited fundamentals. The current price: R$18.25.
What is the quality score of SMFT3?
Smartfit Escola de Ginástica e Dança S.A has a Quality Score of 46/100. 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 Smartfit Escola de Ginástica e Dança S.A (SMFT3)?
Our model-based price target is the fair value of R$22.96 (as of Nov 7, 2026) from 16 valuation models. Cautious scenario R$17.22, optimistic scenario R$28.70. It is a calculation from audited fundamentals, not an analyst target.
What is the Smartfit Escola de Ginástica e Dança S.A stock forecast for 2026?
Our models put fair value at R$22.96, about +26% upside versus a price of R$18.25 (undervalued). Cautious scenario R$17.22, optimistic scenario R$28.70. The calculation is refreshed regularly with new filings.
What is the revenue of Smartfit Escola de Ginástica e Dança S.A (SMFT3)?
Smartfit Escola de Ginástica e Dança S.A reported trailing-twelve-month revenue of about R$8.1B (latest available figure, as of Nov 7, 2026).
What is the intrinsic value of Smartfit Escola de Ginástica e Dança S.A (SMFT3)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Smartfit Escola de Ginástica e Dança S.A it is R$22.96 per share (as of Nov 7, 2026), against a price of R$18.25. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Smartfit Escola de Ginástica e Dança S.A stock overvalued or undervalued in 2026?
As of Nov 7, 2026, SMFT3 trades below its calculated fair value: price R$18.25, fair value R$22.96, a gap of about +26% (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 SMFT3?
No. The price is what the market pays today (R$18.25); the fair value is what the company's own numbers justify (R$22.96). For Smartfit Escola de Ginástica e Dança S.A the two are R$4.71 per share apart. That gap is exactly why we show both numbers side by side.
How much is Smartfit Escola de Ginástica e Dança S.A worth?
The market values Smartfit Escola de Ginástica e Dança S.A at about R$15.3B (market capitalisation, as of Nov 7, 2026). Per share that is R$18.25; our models calculate a fair value of R$22.96 per share.
What do the bullish and bearish scenarios say about SMFT3?
Our models span a range for Smartfit Escola de Ginástica e Dança S.A: cautious scenario R$17.22, base R$22.96, optimistic R$28.70 per share (as of Nov 7, 2026, price R$18.25). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SMFT3?
Smartfit Escola de Ginástica e Dança S.A trades at a price-to-earnings ratio of 16.4 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R$22.96 is built from several models across several years. Other multiples: P/B 2.7, P/S 1.9, EV/EBITDA 8.0.
How solid is the balance sheet of Smartfit Escola de Ginástica e Dança S.A (SMFT3)?
Balance-sheet figures for Smartfit Escola de Ginástica e Dança S.A (as of Nov 7, 2026): return on equity 11.7%, debt of 1.16 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is SMFT3 from its 52-week high?
Smartfit Escola de Ginástica e Dança S.A trades at R$18.25, about 30% below its 52-week high of R$26.01 and 18% above the low of R$15.52 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of R$22.96 is for.
Which stocks are comparable to Smartfit Escola de Ginástica e Dança S.A?
From the same area (Consumer Cyclical) we also value Pop Mart International Group, Amer Sports, Inc, Hasbro, Inc, Life Time Group, 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 Smartfit Escola de Ginástica e Dança S.A stock attractive at the current price?
The data as of Nov 7, 2026: price R$18.25, calculated fair value R$22.96 (+26%), Quality Score 46/100, from 16 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 SMFT3 calculated?
We run Smartfit Escola de Ginástica e Dança S.A through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of R$22.96 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. Smartfit Escola de Ginástica e Dança S.A currently trades 21% 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 Smartfit Escola de Ginástica e Dança S.A (SMFT3)?
The closing price on Nov 6, 2026 was R$18.25. Our model-based fair value is R$22.96, about +26% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Smartfit Escola de Ginástica e Dança S.A right now?
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.
Key figures of Smartfit Escola de Ginástica e Dança S.A
How large is the market capitalisation of Smartfit Escola de Ginástica e Dança S.A (SMFT3)?
The market capitalisation of Smartfit Escola de Ginástica e Dança S.A is R$15.3B (≈ $2.8B). 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 Smartfit Escola de Ginástica e Dança S.A (SMFT3)?
The price-to-sales ratio of Smartfit Escola de Ginástica e Dança S.A is 1.89 (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 Smartfit Escola de Ginástica e Dança S.A (SMFT3)?
Earnings per share at Smartfit Escola de Ginástica e Dança S.A are R$1.11 (price ÷ EPS = P/E 16.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Smartfit Escola de Ginástica e Dança S.A (SMFT3)?
The net margin of Smartfit Escola de Ginástica e Dança S.A is 8.5% (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 Smartfit Escola de Ginástica e Dança S.A (SMFT3)?
The return on equity (ROE) of Smartfit Escola de Ginástica e Dança S.A is 11.7% (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 Smartfit Escola de Ginástica e Dança S.A (SMFT3)?
On an EBIT basis the return on assets of Smartfit Escola de Ginástica e Dança S.A is 4.3% (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 Smartfit Escola de Ginástica e Dança S.A (SMFT3)?
The operating margin of Smartfit Escola de Ginástica e Dança S.A is 24.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Smartfit Escola de Ginástica e Dança S.A (SMFT3)?
Revenue at Smartfit Escola de Ginástica e Dança S.A is growing +21.5% versus a year earlier (3y avg +35.2%). 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 Smartfit Escola de Ginástica e Dança S.A (SMFT3)?
Earnings per share at Smartfit Escola de Ginástica e Dança S.A are growing −6.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Smartfit Escola de Ginástica e Dança S.A (SMFT3) generate?
The free cash flow of Smartfit Escola de Ginástica e Dança S.A is −R$288M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Smartfit Escola de Ginástica e Dança S.A (SMFT3) carry?
The net debt of Smartfit Escola de Ginástica e Dança S.A is R$6.1B (fiscal year 2025). 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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Some data
Nov 7, 2026