B3SA3 (B3 SA Brasil Bolsa Balcao) vs BOVESPA Comparison

B3SA3

BOVESPA

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B3SA3

BOVESPA

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B3SA3

BOVESPA

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Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

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BOVESPA

B3SA3

SPGI

MCO

ICE

CME

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Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

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B3 SA Brasil Bolsa Balcao
Glance View

Market Cap

55.7B BRL

Industry

Financial Services

B3 SA Brasil Bolsa Balcao, often referred to simply as B3, represents the financial heart of Brazil's bustling economy. Established through the merger of BM&FBOVESPA and CETIP in 2017, B3 stands as one of the largest financial market infrastructure companies in the world. With its headquarters situated in São Paulo, B3 operates as the principal stock exchange in Brazil, facilitating an essential space where equities, commodities, and currencies converge. The company has woven a complex web of financial services that encompass trading, clearing, settlement, and registration of securities, thereby ensuring the seamless operation of Brazil's capital markets. This integration smooths out financial flows across Latin America's largest economy, making B3 indispensable to its continued growth and stability. The business model of B3 is rich and multifaceted. Primarily, the company generates revenue through transaction fees levied on trades executed within its platform, a model that naturally scales with market activity. In addition to these fees, B3 profits from listing fees paid by companies that choose to go public on its exchange. The firm also provides technological solutions, and it's known for its sophisticated infrastructure that supports risk management and compliance services. These services not only bolster investor confidence but also provide a steady stream of income. Further diversifying its revenue streams, B3 offers data dissemination services which cater to the growing demand for real-time information in an increasingly digital financial world. Overall, B3 operates as a pivotal entity that not only sustains but also enhances the financial ecosystem of Brazil.

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B3SA3 Intrinsic Value

What is Intrinsic Value?

Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

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B3SA3

vs

BOVESPA

Stocks Performance
B3SA3 vs BOVESPA

Performance Gap
B3SA3 vs BOVESPA

Performance By Year
B3SA3 vs BOVESPA

Competitors Performance
B3 SA Brasil Bolsa Balcao vs Peers

B3 SA Brasil Bolsa Balcao
Glance View

Company

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B3SA3 vs BOVESPA

Stocks Performance B3SA3 vs BOVESPA

Performance Gap B3SA3 vs BOVESPA

Performance By Year B3SA3 vs BOVESPA

Competitors Performance B3 SA Brasil Bolsa Balcao vs Peers

B3 SA Brasil Bolsa Balcao Glance View

Company

Help

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Stocks

B3SA3

vs

BOVESPA

Stocks Performance
B3SA3 vs BOVESPA

Performance Gap
B3SA3 vs BOVESPA

Performance By Year
B3SA3 vs BOVESPA

Competitors Performance
B3 SA Brasil Bolsa Balcao vs Peers

B3 SA Brasil Bolsa Balcao
Glance View