Picpay Holdings Netherlands N.V. (PICS) Key Metrics
PICS key metrics, 2021–2025
Fiscal year ended December 31, 2025 · Brazilian reaisPICS returns How much profit the business earns on the capital it uses.
PICS financial health Debt, liquidity and how easily interest is covered.
PICS efficiency & capital use Working capital cycle and where the cash goes.
PICS returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
PICS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
PICS key metrics in Brazilian reais
2021–2025| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Returns & profitability | |||||
| Return on equity (ROE) | 39.8% | 14.9% | 2.7% | −6.1% | −649.5% |
| Return on invested capital (ROIC) | — | — | — | −131.0% | −309.6% |
| Return on assets (ROA) | 3.1% | 1.0% | 0.2% | −0.4% | −16.1% |
| Return on tangible assets | 2.7% | 0.8% | 0.2% | −0.4% | −16.5% |
| Free cash flow margin | −43.0% | 32.9% | 34.7% | 235.5% | −224.7% |
| Income quality (OCF / net income) | −3.43 | 10.53 | 45.39 | — | — |
| Financial health | |||||
| Total debt | R$860.7M | R$757.9M | R$58.7M | R$53.0M | R$2.25B |
| Cash & short-term investments | R$6.68B | R$5.88B | R$7.10B | R$964.3M | R$2.01B |
| Net debt | −R$5.82B | −R$5.12B | −R$7.04B | −R$911.4M | R$245.1M |
| Debt / equity | 0.22 | 0.47 | 0.04 | 0.04 | 9.38 |
| Debt / assets | 0.02 | 0.03 | 0.00 | 0.00 | 0.23 |
| Net debt / EBITDA | −7.72 | −8.02 | −41.13 | — | — |
| Current ratio | — | 0.48 | 0.80 | 0.44 | 0.69 |
| Quick ratio | — | 0.48 | 0.80 | 0.44 | 0.69 |
| Interest coverage | 1.2 | 0.2 | 0.0 | -0.6 | -4.3 |
| Working capital | — | −R$12.36B | −R$2.73B | −R$5.87B | −R$2.13B |
| Invested capital | −R$1.94B | −R$3.51B | −R$5.73B | R$358.2M | R$485.0M |
| Tangible asset value | R$2.75B | R$836.5M | R$434.7M | R$752.3M | R$121.6M |
| Net current asset value | — | −R$14.34B | −R$3.34B | −R$6.31B | −R$4.61B |
| Capital allocation | |||||
| Capex / revenue | 6.7% | 11.2% | 16.3% | 7.2% | 19.9% |
| Capex / operating cash flow | — | 25.4% | 32.0% | 3.0% | — |
| Capex / depreciation | 1.55 | 1.99 | 2.96 | 2.93 | 4.93 |
| Stock-based compensation / revenue | 2.0% | 0.0% | 0.0% | — | — |
| SG&A / revenue | 21.9% | 31.6% | 42.7% | 51.6% | 142.9% |
| Efficiency | |||||
| Days sales outstanding | 194.4 | 325.8 | 460.2 | 384.1 | 798.8 |
| Days payables outstanding | 325.0 | 318.8 | 154.9 | 102.9 | 265.5 |
| Cash conversion cycle (days) | -130.6 | 7.0 | 305.3 | 281.2 | 533.3 |
| Receivables turnover | 1.88 | 1.12 | 0.79 | 0.95 | 0.46 |
| Payables turnover | 1.12 | 1.14 | 2.36 | 3.55 | 1.37 |
| Asset turnover | 0.30 | 0.24 | 0.22 | 0.28 | 0.13 |
| Average receivables | R$5.47B | R$4.63B | R$3.88B | R$3.18B | R$2.68B |
| Average payables | R$4.43B | R$2.01B | R$517.3M | R$355.0M | R$324.0M |
| Intangibles / total assets | 2.7% | 3.4% | 4.9% | 3.4% | 2.6% |
Computed from PICS's annual financial statements (latest annual report filed April 30, 2026) 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.
PICS valuation and financial ratios
Picpay Holdings Netherlands N.V. earned a return on equity of 39.8% in fiscal 2025. It ended the year with R$860.7 million of debt and R$6.7 billion in cash and short-term investments, a net cash position of R$5.8 billion.
See the PICS income statement, the PICS chart for price history, or the PICS stock overview for the latest quote and news.
PICS key metrics FAQ
What is Picpay Holdings Netherlands N.V.'s return on equity?
Picpay Holdings Netherlands N.V.'s return on equity (ROE) was 39.8% in fiscal 2025: net income of R$1.1 billion on average shareholders' equity of R$2.7 billion.
How much debt does Picpay Holdings Netherlands N.V. have?
Picpay Holdings Netherlands N.V. had total debt of R$860.7 million at the end of fiscal 2025, a debt-to-equity ratio of 0.22 and more cash than debt.