Cosan S.A (CSAN3) - Net Assets
Based on the latest financial reports, Cosan S.A (CSAN3) has net assets worth R$31.91 Billion BRL (≈ $6.26 Billion USD) as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (R$126.69 Billion ≈ $24.86 Billion USD) and total liabilities (R$94.78 Billion ≈ $18.60 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check how strategically is Cosan S.A's equity deployed to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | R$31.91 Billion |
| % of Total Assets | 25.19% |
| Annual Growth Rate | 21.89% |
| 5-Year Change | 20.57% |
| 10-Year Change | 222.53% |
| Growth Volatility | 43.89 |
Cosan S.A - Net Assets Trend (2002–2025)
This chart illustrates how Cosan S.A's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see CSAN3 market cap overview.
Annual Net Assets for Cosan S.A (2002–2025)
The table below shows the annual net assets of Cosan S.A from 2002 to 2025. Also explore CSAN3 net asset momentum to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | R$34.81 Billion ≈ $6.83 Billion |
-11.65% |
| 2024-12-31 | R$39.40 Billion ≈ $7.73 Billion |
-22.72% |
| 2023-12-31 | R$50.98 Billion ≈ $10.00 Billion |
+5.84% |
| 2022-12-31 | R$48.17 Billion ≈ $9.45 Billion |
+66.85% |
| 2021-12-31 | R$28.87 Billion ≈ $5.66 Billion |
+38.67% |
| 2020-12-31 | R$20.82 Billion ≈ $4.09 Billion |
+88.21% |
| 2019-12-31 | R$11.06 Billion ≈ $2.17 Billion |
+1.26% |
| 2018-12-31 | R$10.92 Billion ≈ $2.14 Billion |
+6.08% |
| 2017-12-31 | R$10.30 Billion ≈ $2.02 Billion |
-4.59% |
| 2016-12-31 | R$10.79 Billion ≈ $2.12 Billion |
-12.75% |
| 2015-12-31 | R$12.37 Billion ≈ $2.43 Billion |
-0.64% |
| 2014-12-31 | R$12.45 Billion ≈ $2.44 Billion |
-7.89% |
| 2013-12-31 | R$13.52 Billion ≈ $2.65 Billion |
+0.89% |
| 2012-12-31 | R$13.40 Billion ≈ $2.63 Billion |
+39.30% |
| 2011-12-31 | R$9.62 Billion ≈ $1.89 Billion |
+41.74% |
| 2010-12-31 | R$6.78 Billion ≈ $1.33 Billion |
+13.41% |
| 2009-12-31 | R$5.98 Billion ≈ $1.17 Billion |
+61.72% |
| 2008-12-31 | R$3.70 Billion ≈ $725.84 Million |
-15.91% |
| 2007-12-31 | R$4.40 Billion ≈ $863.19 Million |
+166.42% |
| 2006-12-31 | R$1.65 Billion ≈ $323.99 Million |
+19.35% |
| 2005-12-31 | R$1.38 Billion ≈ $271.46 Million |
+80.53% |
| 2004-12-31 | R$766.34 Million ≈ $150.37 Million |
+20.81% |
| 2003-12-31 | R$634.33 Million ≈ $124.47 Million |
+72.87% |
| 2002-12-31 | R$366.94 Million ≈ $72.00 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Cosan S.A's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 11821.6% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | R$10.28 Billion | 193.86% |
| Other Comprehensive Income | R$625.55 Million | 11.79% |
| Other Components | R$4.12 Billion | 77.64% |
| Total Equity | R$5.30 Billion | 100.00% |
Cosan S.A Competitors by Market Cap
The table below lists competitors of Cosan S.A ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
BB Biotech AG
SW:BION
|
$2.90 Billion |
|
Macrolink Real Estate Co Ltd
SHE:000620
|
$2.90 Billion |
|
China World Trade Center Co Ltd
SHG:600007
|
$2.90 Billion |
|
Lisi S.A
PA:FII
|
$2.90 Billion |
|
Baoding Tianwei Baobian Electric Co Ltd
SHG:600550
|
$2.89 Billion |
|
China Wafer Level Csp Co Ltd
SHG:603005
|
$2.89 Billion |
|
Van Lanschot NV
AS:VLK
|
$2.89 Billion |
|
Guangdong Aofei Data Technology Co Ltd Class A
SHE:300738
|
$2.89 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Cosan S.A's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 10,903,764,000 to 5,304,228,000, a change of -5,599,536,000 (-51.4%).
- Net loss of 9,722,125,000 reduced equity.
- Dividend payments of 2,693,295,000 reduced retained earnings.
- Share repurchases of 532,026,000 reduced equity.
- New share issuances of 17,073,093,000 increased equity.
- Other comprehensive income increased equity by 59,699,000.
- Other factors decreased equity by 9,784,882,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | R$-9.72 Billion | -183.29% |
| Dividends Paid | R$2.69 Billion | -50.78% |
| Share Repurchases | R$532.03 Million | -10.03% |
| Share Issuances | R$17.07 Billion | +321.88% |
| Other Comprehensive Income | R$59.70 Million | +1.13% |
| Other Changes | R$-9.78 Billion | -184.47% |
| Total Change | R$- | -51.35% |
Book Value vs Market Value Analysis
This analysis compares Cosan S.A's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.76x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 19.81x to 1.76x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2003-12-31 | R$0.19 | R$3.74 | x |
| 2004-12-31 | R$0.20 | R$3.74 | x |
| 2005-12-31 | R$5.41 | R$3.74 | x |
| 2006-12-31 | R$2.13 | R$3.74 | x |
| 2007-12-31 | R$3.47 | R$3.74 | x |
| 2008-12-31 | R$3.05 | R$3.74 | x |
| 2009-12-31 | R$3.82 | R$3.74 | x |
| 2010-12-31 | R$3.97 | R$3.74 | x |
| 2011-12-31 | R$5.56 | R$3.74 | x |
| 2012-12-31 | R$5.98 | R$3.74 | x |
| 2013-12-31 | R$5.98 | R$3.74 | x |
| 2014-12-31 | R$5.44 | R$3.74 | x |
| 2015-12-31 | R$5.20 | R$3.74 | x |
| 2016-12-31 | R$5.42 | R$3.74 | x |
| 2017-12-31 | R$5.73 | R$3.74 | x |
| 2018-12-31 | R$6.17 | R$3.74 | x |
| 2019-12-31 | R$6.68 | R$3.74 | x |
| 2020-12-31 | R$3.40 | R$3.74 | x |
| 2021-12-31 | R$8.01 | R$3.74 | x |
| 2022-12-31 | R$11.02 | R$3.74 | x |
| 2023-12-31 | R$11.18 | R$3.74 | x |
| 2024-12-31 | R$5.83 | R$3.74 | x |
| 2025-12-31 | R$2.12 | R$3.74 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Cosan S.A utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -183.29%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -24.05%
- • Asset Turnover: 0.30x
- • Equity Multiplier: 25.47x
- Recent ROE (-183.29%) is below the historical average (-1.47%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 6.80% | 1.81% | 0.66x | 5.73x | R$-12.01 Million |
| 2003 | 5.38% | 2.04% | 0.64x | 4.15x | R$-27.76 Million |
| 2004 | 2.24% | 0.90% | 0.70x | 3.57x | R$-59.19 Million |
| 2005 | -4.76% | -2.61% | 0.44x | 4.14x | R$-200.10 Million |
| 2006 | 22.18% | 9.91% | 0.58x | 3.89x | R$196.19 Million |
| 2007 | -2.41% | -2.77% | 0.32x | 2.70x | R$-390.26 Million |
| 2008 | -7.28% | -9.13% | 0.25x | 3.24x | R$-633.96 Million |
| 2009 | 17.80% | 6.87% | 0.96x | 2.69x | R$461.83 Million |
| 2010 | 11.95% | 4.27% | 1.00x | 2.81x | R$125.68 Million |
| 2011 | 28.47% | 11.14% | 1.06x | 2.42x | R$1.69 Billion |
| 2012 | 6.52% | 2.13% | 0.89x | 3.45x | R$-341.17 Million |
| 2013 | 2.40% | 2.88% | 0.28x | 2.94x | R$-739.54 Million |
| 2014 | 3.31% | 3.58% | 0.30x | 3.07x | R$-589.80 Million |
| 2015 | 6.68% | 6.95% | 0.28x | 3.49x | R$-287.99 Million |
| 2016 | 11.56% | 13.74% | 0.28x | 3.04x | R$139.52 Million |
| 2017 | 13.92% | 17.15% | 0.27x | 3.02x | R$370.66 Million |
| 2018 | 16.64% | 16.06% | 0.36x | 2.90x | R$659.45 Million |
| 2019 | 22.98% | 17.89% | 0.41x | 3.11x | R$1.37 Billion |
| 2020 | 16.34% | 6.36% | 0.16x | 15.91x | R$333.47 Million |
| 2021 | 42.82% | 25.34% | 0.25x | 6.64x | R$4.84 Billion |
| 2022 | 5.69% | 2.99% | 0.29x | 6.51x | R$-889.28 Million |
| 2023 | 5.22% | 2.77% | 0.28x | 6.67x | R$-1.00 Billion |
| 2024 | -86.43% | -21.44% | 0.31x | 12.96x | R$-10.51 Billion |
| 2025 | -183.29% | -24.05% | 0.30x | 25.47x | R$-10.25 Billion |
Industry Comparison
This section compares Cosan S.A's net assets metrics with peer companies in the Oil & Gas Refining & Marketing industry.
Industry Context
- Industry: Oil & Gas Refining & Marketing
- Average net assets among peers: $784,088,994
- Average return on equity (ROE) among peers: 13.07%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Cosan S.A (CSAN3) | R$31.91 Billion | 6.80% | 2.97x | $2.89 Billion |
| Refinaria de Petróleos de Manguinhos S.A (RPMG3) | $184.89 Million | 8.39% | 0.83x | $11.29 Million |
| Ultrapar Participações S.A (UGPA3) | $1.38 Billion | 17.74% | 0.73x | $8.26 Billion |
About Cosan S.A
Cosan S.A. engages in the fuel distribution business. It operates through Raízen, Compass, Moove, Rumo, and Radar segments. The company's Raízen segment engages in the production, marketing, origination, and trading of sugar, as well as ethanol; production and marketing of bioenergy, and solar energy and biogas; trading and resale of electricity; and trading and marketing of fossil, renewable fue… Read more