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Afya Limited Announces Fourth Quarter and Twelve Months 2025 Financial Results

AFYA
  • Afya Limited reported 2025 full-year revenue of R$3,697.3 million, a 11.9% year-over-year increase, with revenue excluding acquisitions growing 9.2% to R$3,607.5 million.
  • Full-year 2025 Adjusted EBITDA reached R$1,680.3 million, up 15.4% year-over-year, achieving an Adjusted EBITDA Margin of 45.4%.
  • Net Income for 2025 was R$768.4 million, an 18.4% increase year-over-year, while Adjusted Net Income rose 9.9% to R$901.7 million.
  • Basic Earnings Per Share (EPS) grew 18.7% in 2025, reaching R$8.32.
  • The company achieved fourth-quarter 2025 revenue of R$913.0 million (up 7.5% YoY) and Adjusted EBITDA of R$388.5 million (up 6.1% YoY).
  • Afya met its 2025 financial guidance for both revenue and Adjusted EBITDA, marking the seventh consecutive year of meeting or exceeding targets.
  • 2026 guidance projects Revenue between R$3,950 million and R$4,100 million, and Adjusted EBITDA between R$1,700 million and R$1,800 million.
  • The company generated a record Free Cash Flow of R$1,056 million in 2025 with an Operating Cash Conversion ratio of 93.7%.
  • Cash and Cash Equivalents totaled R$1,125.4 million as of December 31, 2025, while Net Debt excluding lease liabilities decreased to R$1,369.5 million.
  • The Board declared a cash dividend of R$307.4 million (40% of 2025 net income) with a payment date of April 6, 2026.
  • A new share repurchase program authorizing the buyback of up to 4,000,000 Class A common shares was approved through December 31, 2026.
  • The company issued R$1,500 million in commercial notes in October 2025 and repaid earlier debentures to extend its average debt duration to 3.6 years.
  • Afya's ecosystem reached approximately 301,000 users, with approved medical school seats increasing to 3,768 following regulatory authorizations in 2025 and early 2026.
  • The Undergraduate segment drove growth with 12.6% revenue increase, fueled by maturing medical seats and higher tuition tickets.
  • Continuing Education revenue grew 11.4%, while Medical Practice Solutions revenue increased 5.9% despite a slight decline in B2B revenue.
  • The company repurchased and cancelled 150,000 Series A perpetual convertible preferred shares held by SoftBank in November 2025.