Todas as análises

Relatório de análise · 30 de outubro de 2026

SHUL4

Schulz S.A.

Listada na B3 Bens industriais Santa Catarina, Brazil

Preço de referência

R$ 4,11

-8,46% em 90 dias

Os textos escritos pelos nossos agentes são gerados em inglês e exibidos no idioma original.

Consenso entre todos os agentes

Síntese da análise

Altista · 96%
The overall case is strongly favorable because both perspectives point to the same conclusion: this looks like a high-quality, durable business selling at a price that appears meaningfully below a conservative estimate of its worth. The company has a long record of staying profitable, growing steadily, and maintaining a strong balance sheet without relying heavily on debt. That combination matters because it suggests the business is not just surviving through good conditions, but has the resilience and discipline to hold up across cycles. Just as important, the business appears understandable and practical rather than speculative. Its products serve ongoing industrial and professional needs, which makes the investment case less dependent on hype, fashion, or aggressive future assumptions. Management also appears shareholder-oriented, supported by stable ownership and a long history of returning cash to investors while preserving financial strength. There is very little disagreement across the analyst views. Both see the same core strengths: dependable operations, conservative finances, sensible management behavior, and an attractive entry price. The main reason not to treat this as risk-free is that it still operates in economically sensitive industrial markets. If demand weakens in a downturn, results could soften even for a well-run business. But given the company’s apparent financial resilience and valuation cushion, that risk does not outweigh the positive case. In plain terms: this looks less like a hopeful story and more like a solid business with real staying power that can be bought at a favorable price. That is a strong setup for a bullish recommendation.
Ponto forte

Business quality is high — consistently profitable, financially conservative, and available at a price that offers a clear margin of safety.

Cautela

Industrial demand can weaken in economic slowdowns, which could pressure sales and earnings even in a well-run company.

Acompanhar

Watch whether profitability and balance-sheet strength remain intact through slower market conditions, confirming the business is as durable as it appears.

Convicção dos agentes.

Agente de valor e fosso competitivo

Warren Buffett

Altista · 96%
If I were looking at this business through the lens I have used for many decades, I would view it favorably. When you buy a stock, you are buying a piece of a business, and this appears to be a business with understandable products, a long operating history, and a durable place in its markets. Air compressors, tools, and related equipment are not fads. They serve practical, ongoing needs across industrial, professional, and consumer settings, which is the kind of demand I generally prefer: useful, recurring, and easy to understand. What stands out most is the combination of business quality and discipline. The company appears to have shown the ability to earn strong returns while avoiding the sort of financial strain that can injure owners when conditions become difficult. That suggests an operation with sound economics rather than one depending on leverage or temporary good fortune. In Buffett terms, this is important: a good business should be able to do well because of its underlying economics, not because it borrowed heavily or got lucky for a few years. I also like the evidence of consistency. A wonderful business usually reveals itself over time through dependable progress, not through dramatic promises. Here, the picture presented is one of a company that has grown steadily, remained profitable, and maintained healthy operations across many years. That kind of record often tells you the business has something going for it: customer relationships, brand strength, manufacturing know-how, distribution advantages, or simply a culture that knows how to execute. Whatever the exact source, consistency is a very valuable clue. On management, the signs are encouraging. I want managers who behave like owners and treat shareholder capital as if it were their own money. Stable insider ownership, enduring profitability, and a history of sharing profits with owners all suggest a management team that is thinking beyond the next quarter. Rational capital allocation does not require brilliance or showmanship. It requires discipline, honesty, and a willingness to reinvest when returns are attractive while rewarding owners when appropriate. This company seems to check those boxes. Finally, even the best business can become a poor investment if purchased at too high a price. But in this case, the business is described as trading at a meaningful discount to what it is reasonably worth. That is exactly the sort of situation I like best: a strong, understandable business, run by sensible people, available at a price that does not demand optimism to work out well. No business is without risk. This company operates in manufacturing and industrial markets, which can feel the effects of economic slowdowns, currency shifts, and changing demand. But Buffett investing is not about finding a business with no problems; it is about finding one with durable strengths, competent stewardship, and a price that leaves room for error. So my recommendation is bullish. In plain English: this looks like the kind of company an owner could feel comfortable holding, provided the business continues to perform with the same discipline and consistency that it has shown so far.

Radar de pontuação

Fundamentos
ROE 100/100
ROIC 100/100
Alavancagem 100/100
Consistência
Receita 100/100
Margem 100/100
Lucro líquido 100/100
Gestão
Participação 85/100
Lucros 100/100
Distribuição 100/100
Valuation 100/100

Métricas financeiras.

Receita vs. lucro líquido

BRL milhares · 2014–2025

Receita Lucro líquido

Componentes do balanço

BRL milhares · 2014–2025

Ativo imobilizado Outros Dívida líquida Capital de giro

Alavancagem e eficiência

Dívida sobre patrimônio 0,0x

Excelente posição financeira

Margem operacional 17,0%

Consistently positive operating margin with low variability.

Retorno sobre o patrimônio 2,4x

Return on equity has consistently exceeded the cost of capital, indicating value creation.

Retorno sobre o capital investido 2,1x

Return on invested capital has consistently exceeded the cost of capital, indicating value creation.

Margem operacional

% · 2014–2025

Controle e proventos.

Participação votante

Acionista % votante
Family Schulz 63,3%
Doriane Braatz 18,3%
Ovandi Rosenstock 18,3%
Free float 0,1%

Histórico de proventos

Dividendo por ação

R$ 0,526

dez. 2025

Dividendo por ação

R$ 0,388

dez. 2024

Dividendo por ação

R$ 0,188

dez. 2023

Dividendo por ação

R$ 0,174

dez. 2022