Tegma Gestão Logística S.A (TGMA3) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Tegma Gestão Logística S.A stock BRL 35.35, price BRL 36.74, that is 3.8% below the price, quality 70 out of 100. Rating: fairly valued. 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. As of Nov 5, 2026.
How to read this chart
60‑month range R$8.64 – R$51.81 · fair‑value band R$21.57 – R$45.99 · the R$36.74 price screens above the R$35.35 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Tegma Gestão Logística S.A., together with its subsidiaries, provides logistics services in Brazil. It operates in Automotive Logistics and Integrated Logistics segments.
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The Automotive Logistics segment engages in the transportation and distribution of new and used vehicles; port transfers; and yard and stock management for automakers, as well as vehicle pre-delivery services.
The Integrated Logistics segment provides transportation, warehousing, and inventory management services for chemicals, household appliances, and consumer goods.
The company also offers automotive logistic and center, yard management, vehicle transport and storage, integrated logistics, chemical supply chain management, packaging management, intralogistics, and special project services.
It serves foods and drinks, automotive, cosmetics, home appliances, pharmaceutical, and chemical and petrochemical industries. The company was founded in 1969 and is headquartered in São Bernardo do Campo, Brazil.
Stock analysis
Tegma Gestão Logística S.A (TGMA3) currently trades at R$36.74, while our model-based Fair Value estimate is R$35.35, so the stock looks roughly fairly valued today (gap 3.9%).
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Valuation
Bull case: the Multiples group reads highest at a median of R$66.68 per share, and 19 of the 26 models we run sit above the R$36.74 price.
Bear case: the Economic Profit group reads lowest at R$24.75, and 7 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: R$21.57 (bear) to R$45.99 (bull), the price of R$36.74 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 70/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Tegma Gestão Logística S.A reported revenue of R$2.2B in FY2025 versus R$1.0B in FY2021, a compound +21.9%/yr. Reported net income was R$243M in FY2025, compounding +22.4%/yr from FY2021.
Key figures
Market cap R$2.4B (≈ $439M) Small · P/E ratio 7.3 · P/S ratio 0.80 · EPS (TTM) R$5.04 · Dividend yield 9.9% · Net margin 10.9% · Return on equity 25.6% · Return on assets (EBIT) 18.8% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 70 out of 100 (low confidence).
What moves the price
The share trades about 29% below its 52-week high and 38% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −39% fair-value upside, at −4%, TGMA3 screens cheaper than that median.
Fair Value models
BearR$21.57Fair Value R$35.35BullR$45.99
Price R$36.74 · Downside -3.8%
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$1.21 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.
Best data coverage
FCF DCFR$28.49R$40.81R$56.7181
Growth DCFR$28.35R$39.59R$53.3579
Owner EarningsR$41.00R$58.78R$81.7477
All 26 models by family
DCF Models
FCF DCFR$28.49R$40.81R$56.7181
Owner EarningsR$41.00R$58.78R$81.7477
5Y Revenue ExitR$35.05R$57.45R$86.5372
5Y EBITDA ExitR$39.63R$66.26R$97.9274
5Y P/E ExitR$41.64R$70.12R$100.7470
10Y Revenue ExitR$30.71R$48.47R$73.1166
10Y EBITDA ExitR$34.16R$53.71R$80.6468
10Y P/E ExitR$35.26R$56.01R$82.5163
Earnings-Based
Graham-DoddR$25.06R$89.06R$119.9264
Lynch FVR$20.92R$29.88R$38.8561
PEG = 1.0R$20.92R$29.88R$38.8557
EPVR$22.45R$25.07R$27.1874
Dividend Discount
Gordon GGMR$30.35R$50.34R$64.8668
DDM Multi-StageR$30.35R$47.98R$54.2067
Multiples
P/E MultipleR$58.03R$77.38R$96.7263
P/S MultipleR$46.98R$62.64R$78.3058
P/B MultipleR$24.95R$33.27R$41.5955
EV/EBITR$57.39R$76.97R$96.5466
EV/EBITDAR$52.70R$70.71R$88.7267
EV/RevenueR$40.58R$58.54R$76.5153
Asset-Based
NCAV (Graham)R$1.16R$1.76R$2.1955
Growth DCF
Growth DCFR$28.35R$39.59R$53.3579
Rev-Margin DCFR$35.05R$57.26R$83.6872
Economic Profit
Residual IncomeR$17.34R$21.08R$29.8675
ROIC CompounderR$23.81R$28.41R$33.4172
Growth Earnings
Growth-Adj P/ER$40.24R$57.49R$74.7367
The fair value above starts from this blend and is adjusted for a cyclical peak year.
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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+6.5%
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.
+17.5%
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.
+17.1%
Start year 2020 (pandemic). Over 10 years: +7.1% a year
Revenue growth 21 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.
+9.8%
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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.
+27.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+17.6%
Dividend (yield on the price)9.9%
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.base effect: 17.6% / 35.3%
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.10% → 14%
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).
+6.9%
Yearly growth needed for the next five years to justify today's price.
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 +3.5% a year for the price.
Compare Tegma Gestão Logística S.A with another stock
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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.Trucking · 44 stocks
Beats the industry median on 13/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score70 · Top 25%
Fair Value upside−3.8% · Above median
Profitability
Return on equity (12 months)25.6% · Top 25%
Return on assets17.7% · Top 25%
Net margin (12 months)10.1% · Top 25%
Operating margin (12 months)15.4% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)36.9% · Top 25%
Dividend yield (12 months)9.9% · Top 25%
Balance sheet
Debt / equity0.11× · Below median
Valuation Multiplesvs Trucking median · lower = cheaper
P/E (12 months)7.3× · Cheapest 25%
P/B2.78× · Priciest 25%
P/S (12 months)0.97× · Pricier than median
Price / free cash flow (fiscal year)12.2× · Cheaper than median
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Is Tegma Gestão Logística S.A (TGMA3) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of R$35.35 versus a price of R$36.74, about 4% lower (fairly valued).
What is the fair value of TGMA3?
Our model-based fair value for Tegma Gestão Logística S.A is R$35.35 (as of Nov 5, 2026), built from audited fundamentals. The current price: R$36.74.
What is the quality score of TGMA3?
Tegma Gestão Logística S.A has a Quality Score of 70/100. 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 Tegma Gestão Logística S.A (TGMA3)?
Our model-based price target is the fair value of R$35.35 (as of Nov 5, 2026) from 26 valuation models. Cautious scenario R$21.57, optimistic scenario R$45.99. It is a calculation from audited fundamentals, not an analyst target.
What is the Tegma Gestão Logística S.A stock forecast for 2026?
Our models put fair value at R$35.35, about 4% lower versus a price of R$36.74 (fairly valued). Cautious scenario R$21.57, optimistic scenario R$45.99. The calculation is refreshed regularly with new filings.
What is the revenue of Tegma Gestão Logística S.A (TGMA3)?
Tegma Gestão Logística S.A reported trailing-twelve-month revenue of about R$2.5B (latest available figure, as of Nov 5, 2026).
Does Tegma Gestão Logística S.A pay a dividend?
Tegma Gestão Logística S.A currently shows a dividend yield of 9.88% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Tegma Gestão Logística S.A (TGMA3) and when is the ex-dividend date?
Tegma Gestão Logística S.A pays a dividend of R$3.63 per share a year, a dividend yield of 9.9%. The last ex-dividend date was Aug 7, 2026. A dividend has been paid every year since 2017. The payout ratio is 72.0% of earnings. Free cash flow covers the dividend 0.83 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into Tegma Gestão Logística S.A (TGMA3)?
For today's price to be fair in a discounted-cash-flow model, Tegma Gestão Logística S.A would have to grow free cash flow by +6.9 % per year for five years (discount rate 12.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +17.1 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of TGMA3 use?
Our models discount Tegma Gestão Logística S.A at 12.7 %: a base by market capitalisation (small), damped by beta 0.14, 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 Tegma Gestão Logística S.A that is +6.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.7 %) and the same formula as our fair value.
How much growth has Tegma Gestão Logística S.A (TGMA3) delivered so far?
Over the past 5 years revenue at Tegma Gestão Logística S.A grew +17.1 % a year. The price currently implies free-cash-flow growth of +6.9 % 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 Tegma Gestão Logística S.A (TGMA3) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Tegma Gestão Logística S.A (+6.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Tegma Gestão Logística S.A (TGMA3)?
The free-cash-flow yield on the price is 8.21 %: that much free cash flow Tegma Gestão Logística S.A produces per unit of market value. When it exceeds the discount rate of our models (12.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Tegma Gestão Logística S.A (TGMA3)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tegma Gestão Logística S.A it is R$35.35 per share (as of Nov 5, 2026), against a price of R$36.74. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Tegma Gestão Logística S.A stock overvalued or undervalued in 2026?
As of Nov 5, 2026, TGMA3 trades above its calculated fair value: price R$36.74, fair value R$35.35, a gap of about −4% (fairly valued). 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 TGMA3?
No. The price is what the market pays today (R$36.74); the fair value is what the company's own numbers justify (R$35.35). For Tegma Gestão Logística S.A the two are R$1.39 per share apart. That gap is exactly why we show both numbers side by side.
How much is Tegma Gestão Logística S.A worth?
The market values Tegma Gestão Logística S.A at about R$2.4B (market capitalisation, as of Nov 5, 2026). Per share that is R$36.74; our models calculate a fair value of R$35.35 per share.
What do the bullish and bearish scenarios say about TGMA3?
Our models span a range for Tegma Gestão Logística S.A: cautious scenario R$21.57, base R$35.35, optimistic R$45.99 per share (as of Nov 5, 2026, price R$36.74). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TGMA3?
Tegma Gestão Logística S.A trades at a price-to-earnings ratio of 7.3 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R$35.35 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 11.4. Other multiples: PEG 0.8, P/B 2.8, P/S 1.0, EV/EBITDA 6.5.
What is the PEG ratio of TGMA3?
The PEG ratio of Tegma Gestão Logística S.A is 0.84 (P/E divided by earnings growth, as of Nov 5, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Tegma Gestão Logística S.A (TGMA3)?
Balance-sheet figures for Tegma Gestão Logística S.A (as of Nov 5, 2026): return on equity 25.6%, debt of 0.11 per unit of equity. They feed the Quality Score of 70/100, which measures business quality independently of the share price.
How far is TGMA3 from its 52-week high?
Tegma Gestão Logística S.A trades at R$36.74, about 29% below its 52-week high of R$51.81 and 38% above the low of R$26.62 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of R$35.35 is for.
Which stocks are comparable to Tegma Gestão Logística S.A?
From the same area (Industrials) we also value Old Dominion Freight Line, Inc, XPO, Inc, Knight-Swift Transportation Holdings, Saia, Inc, 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 Tegma Gestão Logística S.A stock attractive at the current price?
The data as of Nov 5, 2026: price R$36.74, calculated fair value R$35.35 (−4%), Quality Score 70/100, from 26 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 TGMA3 calculated?
We run Tegma Gestão Logística S.A through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of R$35.35 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 13.3% above its aggregate fair value. Tegma Gestão Logística 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 Tegma Gestão Logística S.A (TGMA3)?
The closing price on Nov 6, 2026 was R$36.74. Our model-based fair value is R$35.35, about 4% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tegma Gestão Logística S.A right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (R$21.57 to R$45.99) leaves room in how you read the outcome.
Where does the earnings growth of Tegma Gestão Logística S.A (TGMA3) come from?
Earnings per share at Tegma Gestão Logística S.A grew +41.8 % a year from 2015 to 2025. Broken into its drivers: revenue per share +8.0 %, EBIT margin +12.3 %, tax rate +1.8 %, residual (interest, one-offs) +14.9 %. 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 Tegma Gestão Logística S.A
How large is the market capitalisation of Tegma Gestão Logística S.A (TGMA3)?
The market capitalisation of Tegma Gestão Logística S.A is R$2.4B (≈ $439M). 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 Tegma Gestão Logística S.A (TGMA3)?
The price-to-sales ratio of Tegma Gestão Logística S.A is 0.80 (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 Tegma Gestão Logística S.A (TGMA3)?
Earnings per share at Tegma Gestão Logística S.A are R$5.04 (price ÷ EPS = P/E 7.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Tegma Gestão Logística S.A (TGMA3)?
The dividend yield of Tegma Gestão Logística S.A is 9.9% (payout 72.0%). 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 Tegma Gestão Logística S.A (TGMA3)?
The net margin of Tegma Gestão Logística S.A is 10.9% (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 Tegma Gestão Logística S.A (TGMA3)?
The return on equity (ROE) of Tegma Gestão Logística S.A is 25.6% (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 Tegma Gestão Logística S.A (TGMA3)?
On an EBIT basis the return on assets of Tegma Gestão Logística S.A is 18.8% (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 Tegma Gestão Logística S.A (TGMA3)?
The operating margin of Tegma Gestão Logística S.A is 15.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tegma Gestão Logística S.A (TGMA3)?
Revenue at Tegma Gestão Logística S.A is growing +36.9% versus a year earlier (3y avg +17.5%). 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 Tegma Gestão Logística S.A (TGMA3)?
Earnings per share at Tegma Gestão Logística S.A are growing +23.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Tegma Gestão Logística S.A (TGMA3) carry?
The net debt of Tegma Gestão Logística S.A is R$88.2M (fiscal year 2025, ≈ 0.4 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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Broad data
Nov 5, 2026