Cosan S.A. (CSANY) Key Metrics
CSANY key metrics, 2022–2025
Fiscal year ended December 31, 2025 · Brazilian reaisCSANY returns How much profit the business earns on the capital it uses.
CSANY financial health Debt, liquidity and how easily interest is covered.
CSANY efficiency & capital use Working capital cycle and where the cash goes.
CSANY returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CSANY debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CSANY cash returned to shareholders
CSANY key metrics in Brazilian reais
2022–2025| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Returns & profitability | ||||
| Return on equity (ROE) | −120.0% | −59.2% | 5.3% | 5.7% |
| Return on invested capital (ROIC) | 17.9% | 14.0% | 10.5% | 8.4% |
| Return on assets (ROA) | −7.0% | −6.7% | 0.8% | 0.9% |
| Return on tangible assets | −9.0% | −8.2% | 0.9% | 1.0% |
| Free cash flow margin | 11.3% | 11.9% | 10.2% | 13.8% |
| Income quality (OCF / net income) | — | — | 9.39 | 8.48 |
| Financial health | ||||
| Total debt | R$60.31B | R$62.05B | R$52.02B | R$48.45B |
| Cash & short-term investments | R$27.24B | R$16.90B | R$14.66B | R$13.30B |
| Net debt | R$33.06B | R$45.15B | R$37.36B | R$35.14B |
| Debt / equity | 11.37 | 5.69 | 2.48 | 2.35 |
| Debt / assets | 0.45 | 0.44 | 0.37 | 0.36 |
| Net debt / EBITDA | 9.09 | 7.33 | 2.65 | 3.16 |
| Current ratio | 2.58 | 1.72 | 1.77 | 1.62 |
| Quick ratio | 2.45 | 1.60 | 1.66 | 1.50 |
| Interest coverage | 1.4 | 1.3 | 1.3 | 1.1 |
| Working capital | R$24.54B | R$12.86B | R$12.45B | R$9.78B |
| Invested capital | R$38.37B | R$56.05B | R$58.32B | R$55.80B |
| Tangible asset value | R$4.30B | R$13.07B | R$28.33B | R$26.05B |
| Net current asset value | −R$64.02B | −R$71.09B | −R$60.27B | −R$60.74B |
| Capital allocation | ||||
| Dividends paid | R$2.69B | R$3.45B | R$2.58B | R$1.91B |
| Share buybacks (net) | R$34.0M | R$192.9M | R$103.3M | R$84.6M |
| Dividend payout ratio | — | — | 236.0% | 162.3% |
| Dividends + buybacks / free cash flow | 59.7% | 69.4% | 67.0% | 36.6% |
| Capex / revenue | 20.9% | 17.8% | 15.9% | 11.5% |
| Capex / operating cash flow | 64.9% | 59.9% | 61.0% | 45.4% |
| Capex / depreciation | 2.17 | 2.03 | 1.86 | 1.50 |
| Stock-based compensation / revenue | 0.2% | 0.1% | 0.5% | 0.3% |
| SG&A / revenue | 10.8% | 10.1% | 9.8% | 7.7% |
| Efficiency | ||||
| Days sales outstanding | 32.7 | 29.3 | 32.8 | 35.0 |
| Days of inventory on hand | 27.1 | 23.3 | 23.4 | 22.3 |
| Days payables outstanding | 61.9 | 54.9 | 52.7 | 51.6 |
| Cash conversion cycle (days) | -2.1 | -2.2 | 3.6 | 5.7 |
| Receivables turnover | 11.15 | 12.45 | 11.12 | 10.43 |
| Payables turnover | 5.89 | 6.65 | 6.93 | 7.08 |
| Inventory turnover | 13.48 | 15.64 | 15.59 | 16.35 |
| Asset turnover | 0.29 | 0.31 | 0.29 | 0.29 |
| Average receivables | R$3.63B | R$3.53B | R$3.55B | R$3.77B |
| Average payables | R$4.62B | R$4.54B | R$4.12B | R$4.32B |
| Average inventory | R$2.02B | R$1.93B | R$1.83B | R$1.87B |
| Intangibles / total assets | 19.8% | 18.6% | 16.2% | 16.4% |
Computed from CSANY's annual financial statements (latest annual report filed —) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in Brazilian reais; data from EODHD. Averages use the opening and closing balance of each year.
CSANY valuation and financial ratios
Cosan earned a return on equity of −120.0% and a return on invested capital of 17.9% in fiscal 2025. It ended the year with R$60.3 billion of debt and R$27.2 billion in cash and short-term investments, net debt of R$33.1 billion. It returned R$2.7 billion to shareholders: R$2.7 billion in dividends and R$34.0 million in share buybacks, 60% of free cash flow.
See the CSANY income statement, the CSANY chart for price history, or the CSANY stock overview for the latest quote and news.
CSANY key metrics FAQ
What is Cosan's return on equity?
Cosan's return on equity (ROE) was −120.0% in fiscal 2025: net income of -R$9.7 billion on average shareholders' equity of R$8.1 billion.
What is Cosan's ROIC?
Cosan's return on invested capital was 17.9% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Cosan have?
Cosan had total debt of R$60.3 billion at the end of fiscal 2025, a debt-to-equity ratio of 11.37 and R$33.1 billion of net debt (9.09 times EBITDA).
Does Cosan buy back its shares?
Yes. Cosan spent R$34.0 million on net share repurchases in fiscal 2025.
What is Cosan's current ratio?
Cosan's current ratio was 2.58 at the end of fiscal 2025: current assets were 2.58 times current liabilities.