Fact based stock research
B2W (BOVESPA:BTOW3)

BRAMERACNOR6

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

B2W stock research in summary

americanas.com.br

ANALYSIS: With an Obermatt Combined Rank of 22 (worse than 78% compared with investment alternatives), B2W (Internet Retail, Brazil) shares have lower financial characteristics compared with similar stocks. Shares of B2W are a good value (attractively priced) with a consolidated Value Rank of 75 (better than 75% of alternatives) but show below-average growth (Growth Rank of 15), and are riskily financed (Safety Rank of 26), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 22, is a sell recommendation based on B2W's financial characteristics. As the company B2W's key financial metrics exhibit good value (Obermatt Value Rank of 75) but low growth (Obermatt Growth Rank of 15) and risky financing practices (Obermatt Safety Rank of 26), it may be a risky investment, because debt in times of crises can make things worse. The good value, better than 75% of comparable companies, may indicate the company's future is challenging. If you believe that low growth is temporary or just due to a specific current event, you may conclude that the good value of the stock provides an attractive investment opportunity. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	75
Growth Rank	15
Safety Rank	26
Combined Rank	22

Country	Brazil
Industry	Internet Retail
Index	BOVESPA
Size class	X-Large

19-Dec-2024. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: B2W

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	28	67	69	75
GROWTH
GROWTH	65	73	53	15
SAFETY
SAFETY	51	41	1	26
SENTIMENT
SENTIMENT	n/a	7	5	^new
360° VIEW
360° VIEW	n/a	43	8	^new

Most recent update of the stock research: 19-Dec-2024. Financial reporting date used for calculating ranks: 30-Sep-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better B2W is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	28	67	69	75
GROWTH
GROWTH	65	73	53	15
SAFETY
SAFETY	51	41	1	26
COMBINED
COMBINED	46	73	28	22

Last update of combined financial performance: 19-Dec-2024. Stock analysis on combined financial performance: The higher the rank of B2W the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 75 (better than 75% compared with alternatives) for 2024, B2W shares are significantly less expensive than comparable stocks. The Value Rank is based on consolidating four value indicators, with three out of four indicators above average for B2W. Price-to-Sales (P/S) is 96, which means that the stock price compared with what market professionals expect for future sales is lower than for 96% of comparable companies, indicating a good value regarding B2W's revenue size. The same is valid for expected Price to Profits (or Price / Earnings, P/E), more favorable than for 100% of alternatives, and it's also true for the Price-to-Book Capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 100. But, compared with other companies in the same industry, dividend yields are expected to be lower than average; only 1% of all competitors have even lower dividend yields than B2W (a Dividend Yield Rank of 1). 99% alternative investments in the same business provide a higher dividend yield. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 75, is a buy recommendation based on B2W's stock price compared with the company's operational size and dividend yields. The below-average dividend yield may be a good sign, as it could mean the company has more attractive investment opportunities for the generated cash than to pay it out as dividends. A low dividend yield can also indicate a growth phase. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2021	2022	2023	2024
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	43	59	100	96
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	4	11	46	100
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	70	79	100	100
DIVIDEND YIELD
DIVIDEND YIELD	1	91	1	1
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	28	67	69	75

Last update of Value Rank: 19-Dec-2024. Stock analysis on value ratios: The higher the rank, the lower the value ratio of B2W; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 15 (better than 15% compared with alternatives), B2W shows one of the most restricted growth dynamics in its industry. There is little momentum in this company. The Growth Rank is based on consolidating four value indicators, with three out of four indicators below average for B2W. Only Capital Growth has a good rank of 93, which means that currently professionals expect the company to grow its invested capital more than 5% of its competitors. The other three indicators are pointing South: Sales Growth has a rank of 1 which means that currently professionals expect the company to grow less than 99% of its competitors. Profit Growth with a rank of 5 and Stock Returns with a rank of 1 are also low (below 99% of alternative investments). ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 15, is a sell recommendation for growth and momentum investors. The good news from the invested capital side is surprising. A company with disappointing revenues, profits, and disappointed shareholders typically doesn't invest above average. Overall, the growth momentum for B2W is thus negative. As it is intriguing to see that company executives are optimistic about their investment policy, it is worthwhile looking into the details of the capital investment projects. They may indicate future growth and profits and thus if accompanied by a good value, a sign of good timing to invest in the stock. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is limited here. ...read more

GROWTH METRICS	2021	2022	2023	2024
REVENUE GROWTH
REVENUE GROWTH	86	80	63	1
PROFIT GROWTH
PROFIT GROWTH	81	92	93	5
CAPITAL GROWTH
CAPITAL GROWTH	n/a	64	47	93
STOCK RETURNS
STOCK RETURNS	2	3	1	1
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	65	73	53	15

Last update of Growth Rank: 19-Dec-2024. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of B2W.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 26 (better than 26% compared with alternatives), the company B2W has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of B2W is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for B2W and the other two below average. Refinancing is at 100, meaning the portion of the debt about to be refinanced is below average. It has less debt in the refinancing stage than 100% of its competitors. But Leverage is high with a rank of 1, meaning the company has an above-average debt-to-equity ratio. It has more debt than 99% of its competitors. Liquidity is also on the riskier side with a rank of 1, meaning the company generates less profit to service its debt than 99% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 26 (worse than 74% compared with alternatives), B2W has a financing structure that is riskier than that of its competitors. A good Refinancing Rank means that the problems of the company may not be around the corner. But high Leverage is only good if things go well, and low Liquidity is a signal for caution. The financing signals for B2W are on the riskier side, requiring the company's future to be on the safer side. Investors may want to look at Growth and Sentiment ranks before making an investment decision. In the long-term, investors may have a debt challenge with B2W and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2021	2022	2023	2024
LEVERAGE
LEVERAGE	16	46	1	1
REFINANCING
REFINANCING	80	91	1	100
LIQUIDITY
LIQUIDITY	32	8	1	1
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	51	41	1	26

Last update of Safety Rank: 19-Dec-2024. Stock analysis on safety metrics: The higher the rank, the lower the leverage of B2W and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2021	2022	2023	2024
ANALYST OPINIONS
ANALYST OPINIONS	n/a	49	81	^new
OPINIONS CHANGE
OPINIONS CHANGE	n/a	37	50	^new
PRO HOLDINGS
PRO HOLDINGS	n/a	35	11	^new
MARKET PULSE
MARKET PULSE	n/a	1	1	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	n/a	7	5	^new

Last update of Sentiment Rank: 19-Dec-2024. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for B2W.
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