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PicS N.V. Class A
(NASDAQ:PICS)
Select Model
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Rating:54Neutral
Price Target:
$12.00
▼(-20.00% Downside)
Action:N/A
Date:06/24/26
The score is held back primarily by the sharp swing to deeply negative operating/free cash flow and the significant 2025 revenue contraction, despite improved accounting profitability and a healthier leverage profile. Technical indicators also point to weak near-term momentum, while the low P/E provides some offset through relatively attractive valuation.
Positive Factors
High gross and net margins
Very high gross margin (~83%) and reported net margin (~17%) indicate durable unit economics and pricing power in the core business. These margins provide structural room to reinvest in product and sales and support profitability even if top-line growth is uneven.
Negative Factors
Severe cash flow deterioration
Deep negative operating and free cash flows are a durable concern: they create funding needs, increase dilution or debt risk, and undermine the quality of reported earnings. Persistent cash burn threatens long-term viability absent corrective actions or external financing.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross and net margins
Very high gross margin (~83%) and reported net margin (~17%) indicate durable unit economics and pricing power in the core business. These margins provide structural room to reinvest in product and sales and support profitability even if top-line growth is uneven.
Read all positive factors
PicS N.V. Class A (PICS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.48B
Dividend YieldN/A
Average Volume (3M)N/A
Price to Earnings (P/E)6.5
Beta (1Y)3.84
Revenue Growth86.75%
EPS Growth-100.00%
CountryUS
Employees4,000
SectorGeneral
Sector StrengthN/A
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)9.08
Shares Outstanding43,135,918
10 Day Avg. VolumeN/A
30 Day Avg. VolumeN/A
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)3.48
Price to Sales (P/S)2.15
P/FCF Ratio-3.05
Enterprise Value/Market Cap1.76
Enterprise Value/Revenue0.25
Enterprise Value/Gross Profit0.49
Enterprise Value/Ebitda2.85
Forecast
1Y Price Target
$17.00Price Target Upside13.33% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)1.49
Revenue Forecast (FY)$2.81B
PicS N.V. Class A Business Overview & Revenue Model
Company Description
PicS N.V., a subsidiary of Jf International B.v. and formerly known as Picpay Holdings Netherlands B.V., is a prominent digital financial services provider based in São Paulo, Brazil. Established in 2012, the company offers a comprehensive digital...
PicS N.V. Class A Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
74
Positive
Cash Flow
25
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.36B | 6.28B | 5.19B | 3.07B | 3.02B | 1.22B |
| Gross Profit | 5.33B | 5.22B | 2.89B | 1.85B | 1.76B | 778.36M |
| EBITDA | 914.79M | 745.17M | 638.88M | 171.12M | -624.50M | -1.85B |
| Net Income | 1.17B | 1.09B | 217.57M | 34.52M | -45.69M | -1.56B |
Balance Sheet | ||||||
| Total Assets | 46.74B | 41.99B | 27.32B | 15.78B | 12.16B | 9.70B |
| Cash, Cash Equivalents and Short-Term Investments | 8.94B | 6.68B | 5.88B | 7.10B | 964.32M | 2.01B |
| Total Debt | 764.85M | 860.73M | 757.89M | 58.65M | 52.95M | 2.25B |
| Total Liabilities | 40.66B | 38.10B | 25.55B | 14.58B | 11.00B | 9.32B |
| Stockholders Equity | 6.06B | 3.87B | 1.61B | 1.31B | 1.27B | 239.88M |
Cash Flow | ||||||
| Free Cash Flow | 1.55B | -4.42B | 1.71B | 1.06B | 7.12B | -2.75B |
| Operating Cash Flow | 2.08B | -3.74B | 2.29B | 1.57B | 7.34B | -2.51B |
| Investing Cash Flow | -4.09B | -684.34M | -2.53B | -537.08M | -63.23M | -298.68M |
| Financing Cash Flow | 2.49B | 815.41M | 327.15M | -12.24M | -1.06B | 2.84B |
PicS N.V. Class A Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $6.85B | 16.55 | -28.45% | ― | -0.62% | 20.48% | |
71 Outperform | $12.74B | 14.77 | 366.90% | ― | 7.96% | 19.77% | |
67 Neutral | $823.80M | -33.90 | -27.17% | ― | 13.32% | 61.29% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | $1.48B | 6.51 | 15.56% | ― | 86.75% | -100.00% | |
53 Neutral | $2.21B | -70.42 | 18.77% | ― | 13.56% | -127.38% | |
49 Neutral | $195.49M | -23.13 | -128.96% | ― | -1.34% | 32.15% |
* General Sector Average
PICS
PicS N.V. Class A
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.