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AFYA on Nasdaq

Afya Ltd

Afya Ltd is an educational services company based in Nova Lima, Cayman Islands.2

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Last updated Oct 21, 2026.

Overview

3.7BRevenue, fiscal 20253
768.4MNet income, fiscal 20253

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  • TickerAFYA on Nasdaq2
  • IndustryServices-Educational Services2
  • HeadquartersNova Lima, Brazil2
  • Incorporated inCayman Islands4
  • Business addressParaiba, No. 330, 17Th Floor, Funcionarios, Belo Horizonte, Minas Gerais4
  • Filer categoryLarge accelerated filer4
  • Legal formcompany limited by shares2
  • LEI54930008Y7J8Z1BSDT572
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O Maples Corporate Services Limited, KY1-1104 George Town, Cayman Islands2

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Nasdaq since July 2019, and therefore subject to certain reporting requirements of the Exchange Act.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from. Figures are in BRL, the currency the company reports in.

Key numbers, fiscal 2025

64.5%Gross margin3
32.8%Operating margin3
20.8%Net margin3
11.9%Revenue growth, 20253
15.7%Return on equity3
0.41×Debt to equity3
1.4B BRLFree cash flow3

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Undergraduate brought in 88% of the revenue Afya Ltd broke down this way in fiscal 2025.

  1. Undergraduate3.3B BRL388%up 12% from 2024
  2. Continuing Education [member]284.5M BRL38%up 11% from 2024
  3. Medical Practice Solutions171.3M BRL35%up 6% from 2024
Business segments by year
Business segments202320242025
Undergraduate2.5B BRL2.9B BRL3.3B BRL
Continuing Education [member]235.8M BRL255.4M BRL284.5M BRL
Medical Practice Solutions140.3M BRL161.8M BRL171.3M BRL

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue36¢1.3B BRL
  • Other costs29¢1.1B BRL
  • Interest15¢561.0M BRL
  • Profit21¢768.4M BRL

Out of 3.7B BRL in revenue.3

Where each dollar of operating cash went, fiscal 2025

  • Capital spending11¢166.0M BRL
  • Dividends paid10¢146.8M BRL
  • Kept or used elsewhere80¢1.2B BRL

Out of 1.5B BRL of cash from operations.3

Financial statements

Revenue67891033.7B BRL in 2025+1007% since 2018
01.0B BRL2.0B BRL3.0B BRL4.0B BRL2018: 333.9M BRL333.9M BRL20182019: 750.6M BRL750.6M BRL2019+125%2020: 1.2B BRL1.2B BRL2020+60%2021: 1.7B BRL1.7B BRL2021+43%2022: 2.3B BRL2.3B BRL2022+35%2023: 2.9B BRL2.9B BRL2023+23%2024: 3.3B BRL3.3B BRL2024+15%2025: 3.7B BRL3.7B BRL2025+12%
Gross profit67891032.4B BRL in 2025+1337% since 2018
01.0B BRL2.0B BRL3.0B BRL2018: 165.9M BRL165.9M BRL20182019: 441.8M BRL441.8M BRL2019+166%2020: 766.5M BRL766.5M BRL2020+74%2021: 1.1B BRL1.1B BRL2021+39%2022: 1.5B BRL1.5B BRL2022+38%2023: 1.8B BRL1.8B BRL2023+20%2024: 2.1B BRL2.1B BRL2024+18%2025: 2.4B BRL2.4B BRL2025+14%
Operating income67891031.2B BRL in 2025+1158% since 2018
0500.0M BRL1.0B BRL1.5B BRL2018: 96.4M BRL96.4M BRL20182019: 205.3M BRL205.3M BRL2019+113%2020: 363.3M BRL363.3M BRL2020+77%2021: 440.9M BRL440.9M BRL2021+21%2022: 664.1M BRL664.1M BRL2022+51%2023: 767.1M BRL767.1M BRL2023+16%2024: 1.0B BRL1.0B BRL2024+32%2025: 1.2B BRL1.2B BRL2025+20%
Net income6789103768.4M BRL in 2025+711% since 2018
0200.0M BRL400.0M BRL600.0M BRL800.0M BRL2018: 94.7M BRL94.7M BRL20182019: 172.8M BRL172.8M BRL2019+82%2020: 308.0M BRL308.0M BRL2020+78%2021: 242.3M BRL242.3M BRL2021−21%2022: 392.8M BRL392.8M BRL2022+62%2023: 405.4M BRL405.4M BRL2023+3%2024: 648.9M BRL648.9M BRL2024+60%2025: 768.4M BRL768.4M BRL2025+18%

Every line of the income statement as filed: the last 3 fiscal years, latest first.3

Period ending2025-12-312024-12-312023-12-31
Revenue3.7B BRL3.3B BRL2.9B BRL
Cost of services-1.3B BRL-1.2B BRL-1.1B BRL
Gross profit2.4B BRL2.1B BRL1.8B BRL
Selling, general and administrative expenses-1.1B BRL-1.0B BRL-940.1M BRL
Allowance for expected credit losses-57.1M BRL-60.9M BRL-74.6M BRL
Other income18.8M BRL13.3M BRL53.2M BRL
Other expenses-18.9M BRL-20.6M BRL-37.6M BRL
Operating income1.2B BRL1.0B BRL767.1M BRL
Finance income194.9M BRL111.3M BRL110.6M BRL
Finance expenses-561.0M BRL-458.7M BRL-457.6M BRL
Net finance result-366.1M BRL-347.5M BRL-347.0M BRL
Share of profit of equity-accounted investee, net of tax13.9M BRL11.7M BRL9.5M BRL
Income before income taxes860.9M BRL676.4M BRL429.6M BRL
Current-133.3M BRL-24.2M BRL-27.4M BRL
Deferred40.8M BRL-3.2M BRL3.2M BRL
Net income768.4M BRL648.9M BRL405.4M BRL
Total comprehensive income768.4M BRL648.9M BRL405.4M BRL
Owners of the Company752.5M BRL631.5M BRL386.3M BRL
Non-controlling interests16.0M BRL17.4M BRL19.1M BRL
Total comprehensive income768.4M BRL648.9M BRL405.4M BRL
Basic earnings per common share8.32 BRL7.01 BRL4.30 BRL
Diluted earnings per common share8.24 BRL6.93 BRL4.27 BRL

Compare Afya Ltd with another company

Corporate structure

Afya Ltd sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Afya Ltd

  • Doma Perpetual Capital Management LLC Filed SCHEDULE 13G on Afya Ltd, latest Aug 13, 2026
  • Bertelsmann SE & Co. KGaA Filed SCHEDULE 13D/A on Afya Ltd, latest Jun 16, 2026 (34 filings since Mar 4, 2022)
  • BAMCO INC /NY/ Filed SCHEDULE 13G/A on Afya Ltd, latest Feb 14, 2025 (6 filings since Feb 15, 2022)
  • de Carvalho Lilian Tavares Esteves Filed SC 13G/A on Afya Ltd, latest Nov 14, 2024 (4 filings since Feb 14, 2022)
  • Nicolau Carvalho Esteves Filed SC 13G/A on Afya Ltd, latest Nov 14, 2024 (4 filings since Feb 14, 2022)
  • Renato Tavares Esteves Filed SC 13G/A on Afya Ltd, latest Nov 14, 2024 (3 filings since Feb 14, 2022)
  • Vanessa Tavares Esteves Filed SC 13G/A on Afya Ltd, latest Nov 14, 2024 (4 filings since Feb 14, 2022)
  • FMR LLC Filed SC 13G/A on Afya Ltd, latest Nov 12, 2024 (2 filings since Feb 9, 2024)
  • Ameriprise Financial Filed SC 13G/A on Afya Ltd, latest Feb 14, 2023 (2 filings since Feb 14, 2022)
  • Jackson Square Partners, LLC Filed SC 13G/A on Afya Ltd, latest Feb 11, 2022
  • AustralianSuper Pty Ltd Filed SC 13G/A on Afya Ltd, latest Jan 25, 2022
  • Crescera Educacional II Fundo de Investimento em Participacoes Multiestrategia Filed SC 13G/A on Afya Ltd, latest Dec 22, 2021
  • Afya Ltd Nova Lima, Brazil

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Afya Ltd reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, net711.5M BRL3 Dec 31, 2025658.5M BRL3 Dec 31, 2024+8.0%
Operating-lease assets (leased space)896.8M BRL3 Dec 31, 2025842.2M BRL3 Dec 31, 2024+6.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents1.1B BRL3 Dec 31, 2025911.0M BRL3 Dec 31, 2024+23.5%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)5.6B BRL3 Dec 31, 20255.5B BRL3 Dec 31, 2024+1.0%

Leadership

Who has led Afya Ltd, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Virgilio Deloy Capobianco Gibbon2026–now

Chief financial officer

  1. Luis Andre Carpintero Blanco2026–now
Board members and other officers (17)

Timeline

  1. Mar 18, 2026New chief executive Virgilio Deloy Capobianco Gibbon becomes CEO12

Calendar

Coming up

  1. Nov 11, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.37 a share, on Nov 12, 2025.31

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

225 filings to the SEC since October 2021: 5 annual reports, 45 insider forms, 63 large holders, 112 other. The latest 20:

  1. Oct 6, 20264 EDGAR
  2. Oct 1, 20266-K EDGAR
  3. Oct 1, 20266-K EDGAR
  4. Sep 24, 20266-K EDGAR
  5. Sep 18, 20266-K EDGAR
  6. Aug 24, 20266-K EDGAR
  7. Aug 13, 20266-K EDGAR
  8. Aug 13, 20266-K EDGAR
  9. Aug 13, 2026SCHEDULE 13G EDGAR
  10. Jul 30, 20266-K EDGAR
  11. Jul 6, 20264 EDGAR
  12. Jun 30, 20264 EDGAR
  13. Jun 30, 20264 EDGAR
  14. Jun 22, 20266-K EDGAR
  15. Jun 16, 2026SCHEDULE 13D/A EDGAR
  16. Jun 11, 2026144 EDGAR
  17. Jun 2, 20266-K EDGAR
  18. May 11, 20264 EDGAR
  19. May 11, 20264 EDGAR
  20. May 11, 20264 EDGAR

The 225 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

17 open-market trades by officers, directors and large owners since October 2021: 0 buys and 17 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jul 1, 2026Junior Lelio de SouzaVice PresidentSale36,204$15.00$543.1KForm 4
Jun 26, 2026Basolli Gomiero MirellaVice PresidentSale10,000$14.80$148.0KForm 4
Jun 26, 2026Junior Lelio de SouzaVice PresidentSale41,541$15.00$623.1KForm 4
Apr 17, 2026FERREIRA SANTOS WELDERControllerSale3,325$15.90$52.9KForm 4
Apr 13, 2026GRIFO DE SOUSA ANIBAL JOSEV.P. Legal, Comp. & Gov. Rel.Sale14,000$15.41$215.8KForm 4
Apr 9, 2026Junior Lelio de SouzaVice PresidentSale16,279$14.53$236.5KForm 4
Apr 8, 2026Blanco Luis Andre CarpinteroChief Financial OfficerSale10,000$15.20$152.0KForm 4
Apr 7, 2026Junior Lelio de SouzaVice PresidentSale26,753$14.95$400.0KForm 4
Apr 7, 2026GRIFO DE SOUSA ANIBAL JOSEV.P. Legal, Comp. & Gov. Rel.Sale5,000$15.20$76.0KForm 4
Apr 6, 2026Gibbon Virgilio Deloy CapobiancoChief Executive OfficerSale770$14.91$11.5KForm 4
Apr 2, 2026Gibbon Virgilio Deloy CapobiancoChief Executive OfficerSale20,900$14.94$312.2KForm 4
Apr 1, 2026Gibbon Virgilio Deloy CapobiancoChief Executive OfficerSale19,500$14.98$292.1KForm 4
Mar 31, 2026Gibbon Virgilio Deloy CapobiancoChief Executive OfficerSale2,320$14.92$34.6KForm 4
Mar 30, 2026Gibbon Virgilio Deloy CapobiancoChief Executive OfficerSale1,510$14.91$22.5KForm 4
Mar 27, 2026Gibbon Virgilio Deloy CapobiancoChief Executive OfficerSale300$15.00$4.5KForm 4
Mar 26, 2026Gibbon Virgilio Deloy CapobiancoChief Executive OfficerSale800$15.21$12.2KForm 4
Mar 25, 2026Gibbon Virgilio Deloy CapobiancoChief Executive OfficerSale3,900$15.18$59.2KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How Afya Ltd is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARAfya Ltd1
  • CIK0001771007
  • Filer statusLarge accelerated filer not an emerging growth company; a shell company5
  • Incorporated inCayman Islands5
  • Fiscal year endsDecember 311
  • Industry code (SIC)8200 Services-Educational Services1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business addressParaiba, No. 330, 17Th Floor, Funcionarios, Belo Horizonte, Minas Gerais, Brazil1
  • Phone5531351575501
  • Shares outstanding55,148,697 Class A Ordinary Shares shares; 3,855,150 Class A Common Shares Held In Treasury shares; 38,574,134 Class B Ordinary Shares shares as of Dec 31, 20255
  • AuditorKPMG Auditores Independentes Ltda., Belo Horizonte PCAOB ID 1124; it also attests to the company’s internal control over financial reporting5
  • On EDGAR sinceApr 8, 20191
  • Filings338 in all: 6-K (162), SC 13D/A (32), SC 13G/A (28), 4 (25), 3 (19), SC 13G (11), 20-F (7), 144 (6)1
    All 28 form types

    CORRESP (6), UPLOAD (6), DRSLTR (5), S-8 (5), SCHEDULE 13D/A (3), 424B1 (2), DRS (2), DRS/A (2), EFFECT (2), F-1 (2), SC 13D (2), SCHEDULE 13G (2), SEC STAFF LETTER (2), 3/A (1), 6-K/A (1), 8-A12B (1), CERT (1), F-1/A (1), F-1MEF (1), SCHEDULE 13G/A (1)

  • Latest filingsAnnual report (20-F) Mar 31, 2026

Securities registered for trading

ClassSymbolExchange
Class A common shares, par value US$0.00005 per shareAFYANasdaq

From the cover page of the 20-F filed Mar 31, 2026 (Section 12(b) of the Exchange Act).5

Sources

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