In brief

Totvs posted adjusted profit of R$ 237.2 million in 3Q26.

Gross debt tripled in a year.

What we know

04
  1. Verified fact · material

    Totvs posted adjusted net income of R$ 237.2 million in 3Q26, up 8.8% from 3Q25.

    Profit.

    Sources[01][02]
  2. Verified fact · material

    Net revenue was R$ 1.977 billion, up 13.2%, and adjusted Ebitda R$ 500.9 million.

    Revenue.

    Sources[01][02]
  3. Verified fact · material

    Gross debt reached R$ 4.611 billion, up 200.5% in a year, with debentures for the Linx purchase.

    Debt.

    Sources[01][02]
  4. Verified fact

    According to CNN Brasil, net debt was R$ 3.1 billion in September.

    Net.

    Sources[01]

Transmission to assets

Market read-through

Growth continues, but higher leverage reduces net margin.

Portfolio impact

01
TOTS3uncertain

Profit up, debt too.

High rates.

What would change the view: Linx synergies.

direct5% confidence

Direction is an explanatory hypothesis, not a forecast or recommendation.

Next signals

What to watch

  • Linx integration
  • Deleveraging

Limits of the reporting

What remains uncertain

  • The reported profit is adjusted.

Full sources

02