Afya Limited (AFYA) Income Statement
AFYA 2025 at a glance
Fiscal year ended December 31, 2025 · Brazilian reaisAFYA revenue and net income
Where AFYA's revenue goes
2025Each bar shows an amount and its share of revenue. AFYA kept 20.4% of revenue as net income.
AFYA profit margins
AFYA growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +9.7% | +15.9% | +24.7% | — |
| Gross profit | +11.9% | +16.7% | +25.0% | — |
| Operating income | +17.5% | +21.4% | +26.8% | — |
| Net income | +16.8% | +25.5% | +20.4% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
AFYA income statement in Brazilian reais
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | R$3.62B | R$3.30B | R$2.88B | R$2.33B | R$1.72B | R$1.20B | R$750.6M | R$333.9M | R$216.0M |
| Cost of revenue | R$1.29B | R$1.22B | R$1.11B | R$859.6M | R$652.3M | R$434.7M | R$308.9M | R$168.1M | R$124.1M |
| Gross profit | R$2.34B | R$2.09B | R$1.77B | R$1.47B | R$1.07B | R$766.5M | R$441.8M | R$165.9M | R$91.9M |
| Research & development | — | R$20.1M | R$21.5M | R$9.4M | R$625,000 | R$32,000 | R$0 | R$0 | R$0 |
| Sales, general & admin | R$1.11B | R$1.07B | R$1.01B | R$798.2M | R$622.6M | R$402.9M | R$239.1M | R$70.0M | R$45.4M |
| Total operating expenses | R$1.15B | R$1.08B | R$999.0M | R$805.6M | R$626.2M | R$403.2M | R$236.5M | R$69.4M | R$42.6M |
| Operating income | R$1.19B | R$1.01B | R$767.1M | R$664.1M | R$440.9M | R$363.3M | R$205.3M | R$96.4M | R$49.3M |
| Interest income | R$49.5M | R$43.4M | R$31.0M | R$27.2M | R$23.0M | R$62.3M | R$9.7M | R$4.4M | R$3.2M |
| Interest expense | R$493.8M | R$366.4M | R$386.3M | R$288.7M | R$175.6M | R$16.3M | R$15.9M | R$2.4M | R$1.0M |
| Income before taxes | R$844.0M | R$676.4M | R$429.6M | R$428.4M | R$273.5M | R$335.1M | R$186.9M | R$98.7M | R$51.0M |
| Income taxes | R$90.7M | R$27.5M | R$24.2M | R$35.7M | R$31.2M | R$27.1M | R$14.2M | R$4.0M | R$2.5M |
| Net income | R$737.7M | R$631.5M | R$386.3M | R$373.6M | R$223.3M | R$292.1M | R$153.9M | R$86.4M | R$45.4M |
| EBITDA | R$1.34B | R$1.35B | R$1.11B | R$923.3M | R$603.3M | R$472.1M | R$315.6M | R$105.5M | R$53.4M |
| Gross margin | 64.5% | 63.2% | 61.4% | 63.1% | 62.1% | 63.8% | 58.9% | 49.7% | 42.6% |
| Operating margin | 32.8% | 30.6% | 26.7% | 28.5% | 25.6% | 30.2% | 27.3% | 28.9% | 22.8% |
| Net margin | 20.4% | 19.1% | 13.4% | 16.0% | 13.0% | 24.3% | 20.5% | 25.9% | 21.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Dec '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | R$994.2M | R$993.8M | R$926.9M | R$928.5M | R$919.4M | R$849.0M | R$804.2M | R$729.9M | R$723.5M | R$712.6M | R$710.0M | R$584.0M |
| Cost of revenue | R$381.9M | R$308.8M | R$353.9M | R$339.9M | R$342.7M | R$307.2M | R$269.5M | R$289.7M | R$288.2M | R$284.3M | R$247.6M | R$236.9M |
| Gross profit | R$612.3M | R$685.0M | R$572.9M | R$588.6M | R$576.7M | R$541.8M | R$534.7M | R$440.2M | R$435.2M | R$428.3M | R$462.4M | R$347.1M |
| Research & development | — | — | — | — | — | R$4.3M | R$7.0M | R$7.3M | R$5.4M | R$4.9M | R$3.9M | R$2.5M |
| Sales, general & admin | R$286.3M | R$287.7M | R$285.6M | R$286.2M | R$292.9M | R$284.4M | R$241.2M | R$274.9M | R$257.0M | R$249.6M | R$233.2M | R$201.5M |
| Total operating expenses | R$313.5M | R$299.8M | R$296.0M | R$311.2M | R$291.5M | R$283.8M | R$245.4M | R$269.6M | R$245.0M | R$251.7M | R$232.8M | R$200.0M |
| Operating income | R$298.8M | R$385.2M | R$277.0M | R$277.4M | R$285.2M | R$258.0M | R$289.4M | R$170.6M | R$190.3M | R$176.6M | R$229.5M | R$147.1M |
| Interest income | R$37.9M | R$51.4M | R$89.0M | R$57.0M | R$41.0M | R$8.4M | R$12.4M | R$7.7M | R$10.6M | R$4.8M | R$10.3M | R$5.2M |
| Interest expense | R$125.0M | R$132.4M | R$117.3M | R$121.4M | R$135.8M | R$117.2M | R$18.5M | R$19.2M | R$21.8M | R$21.6M | R$22.3M | R$16.8M |
| Income before taxes | R$207.9M | R$298.5M | R$207.6M | R$180.6M | R$194.0M | R$155.4M | R$219.2M | R$92.8M | R$110.4M | R$89.6M | R$136.8M | R$81.4M |
| Income taxes | R$2.0M | R$41.7M | R$29.5M | R$21.2M | R$17.5M | R$1.1M | R$10.9M | −R$9.1M | R$12.1M | R$2.1M | R$19.1M | R$10.1M |
| Net income | R$201.6M | R$252.2M | R$175.6M | R$155.2M | R$172.3M | R$149.9M | R$203.4M | R$98.1M | R$93.3M | R$82.8M | R$112.1M | R$66.7M |
| EBITDA | R$391.4M | R$522.3M | R$324.9M | R$396.7M | R$424.5M | R$341.5M | R$376.9M | R$257.2M | R$282.1M | R$260.3M | R$305.9M | R$213.3M |
| Gross margin | 61.6% | 68.9% | 61.8% | 63.4% | 62.7% | 63.8% | 66.5% | 60.3% | 60.2% | 60.1% | 65.1% | 59.4% |
| Operating margin | 30.1% | 38.8% | 29.9% | 29.9% | 31.0% | 30.4% | 36.0% | 23.4% | 26.3% | 24.8% | 32.3% | 25.2% |
| Net margin | 20.3% | 25.4% | 18.9% | 16.7% | 18.7% | 17.7% | 25.3% | 13.4% | 12.9% | 11.6% | 15.8% | 11.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in Brazilian reais as reported in AFYA's financial statements (latest annual report filed March 31, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
AFYA financial results
In fiscal year 2025 (ended December 31, 2025), Afya reported revenue of R$3.6 billion, up 9.7% from the year before. It had net income of R$737.7 million (up 16.8%), a net profit margin of 20.4%. Over five years revenue grew at an average rate of 24.7% a year. Figures are in Brazilian reais, the currency of its financial statements.
See the AFYA stock overview for the latest quote and news, or the AFYA chart for price history and technical indicators.
AFYA income statement FAQ
What is Afya's annual revenue?
Afya reported total revenue of R$3.6 billion for fiscal year 2025, which ended on December 31, 2025. That was up 9.7% from R$3.3 billion the previous year.
Is Afya profitable?
Yes. Afya reported net income of R$737.7 million in fiscal 2025, a net profit margin of 20.4%; its operating margin was 32.8%.
What is Afya's gross margin?
Afya's gross margin was 64.5% in fiscal 2025: for every $100 of revenue, Afya kept $64 after the direct cost of its products and services.
How fast is Afya growing?
Revenue grew 24.7% a year on average over the last five fiscal years, from R$1.2 billion to R$3.6 billion.
When will Afya report its next earnings?
Afya is expected to report results for the quarter ending September 30, 2026 on November 11, 2026.
When does Afya's fiscal year end?
Afya's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 31, 2026.