Movida Participações (MOVI3) Q4 2025 earnings summary

Executive summary

• Achieved record profitability and operational results in 2025, with net income of R$318 million (up 37.5–38% YoY), ROIC at 16.6% (up 4.3 p.p.), and net revenue of R$14.7 billion (up 8.8% YoY).

• EBITDA reached R$5.7 billion (up 21–22% YoY), with rental revenue at R$7.9 billion (up 18.7–19%).

• Customer-centric innovation, digitalization, and technology-driven service enhancements led to 676,000 new customers and industry-leading NPS.

• Operational excellence and disciplined capital allocation drove value creation, market share gains, and recognition for sustainability.

• Entering 2026 with multiple levers for further value creation, including new service channels, innovation, and operational improvements.

Financial highlights

• Net revenue reached R$14.7 billion in 2025, with rental revenue at R$7.9 billion and consolidated EBITDA at R$5.7 billion (margin 71.3%).

• EBIT for 2025 was R$3.3 billion (+24–24.3% YoY); net income was R$318 million (+37.5–38% YoY).

• Free cash flow before interest was R$786.9 million, reversing a negative flow from 2024.

• Net debt/EBITDA improved to 2.6x, the lowest in five years.

• Gross margin and EBITDA margin improved across all segments.

Outlook and guidance

• 1Q26 net income guidance is R$110–130 million, up 54% YoY and 71–74% above market consensus.

• 2026 strategy focuses on price discipline, cost reduction, higher RAC utilization, stable used-car margins, and continued deleveraging.

• Guidance for net debt/EBITDA remains at 2.6x–2.8x.