Cosan (ADR)
Holds Brazilian bioenergy, fuel distribution, rail, gas, and lubricants businesses.
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Profile
A Brazilian holding company with operating investments in Raízen, Rumo, Compass, and Moove. Its portfolio spans sugarcane-based bioenergy and Shell-branded fuel distribution, rail logistics, natural gas, and lubricants.
A Brazilian holding company with core operating investments in Raízen, Rumo, Compass, and Moove. Raízen combines sugarcane-derived ethanol and sugar, bioenergy, and Shell-branded fuel distribution; Rumo provides rail logistics; Compass is the natural-gas platform; and Moove supplies lubricants.
Built through acquisitions, a Shell joint venture, and a parent-company consolidation, the portfolio links energy, transport, and lubricant businesses in Brazil. The NYSE ADS structure followed the parent-company reorganization that unified the group’s free floats. Its Raízen interest is a material portfolio-company dependency, while the controlled-shareholder structure and parent-level financing decisions shape governance and capital structure.
Company facts
Key statistics
Year to date −28.4% · Average volume (30d) 1.8M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| May 26, 2026 | HSBC | Downgrade | Hold | Reduce | $5 | $3.20 |
| Dec 5, 2025 | HSBC | Upgrade | Reduce | Hold | $4.40 | $5 |
| Sep 22, 2025 | HSBC | Downgrade | Hold | Reduce | $4.40 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 14, 2026Q2 FY26 | $0.01 | −$0.06 | −746.6% | $989.5M | $989.5M | 0.0% | 0.00% |
| May 14, 2026Q1 FY26 | $0.00 | −$0.31 | — | $1.52B | $1.63B | +7.0% | −7.32% |
| Mar 10, 2026Q4 FY25 | $0.01 | −$0.16 | −1,866.0% | $1.40B | $348.7M | −75.0% | −2.74% |
| Nov 14, 2025Q3 FY25 | $0.02 | −$0.47 | −2,010.6% | $7.26B | $2.00B | −72.5% | −6.29% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.86B | $2.01B | $2.05B | $1.85B | $1.73B | $2.12B | |
| Gross profit | $551.5M | $690.8M | $716.1M | $572.7M | $590.9M | $791.5M | |
| Operating income | $442.3M | $584.6M | $582.6M | $438.3M | $457.6M | $565.2M | |
| Net income | −$343.5M | −$181.7M | −$227.7M | −$1.11B | −$304.2M | −$63.0M | |
| Diluted EPS | −$0.18 | −$0.10 | −$0.12 | −$0.69 | −$0.15 | −$0.07 | |
| Gross margin | 29.7% | 34.3% | 35.0% | 31.0% | 34.1% | 37.4% | |
| Operating margin | 23.8% | 29.0% | 28.4% | 23.7% | 26.4% | 26.7% |
Fiscal years (4-quarter sums)FY21 $4.79B · FY22 $7.63B · FY23 $6.10B · FY24 $8.44B · FY25 $7.76B
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $3.62B · Total debt $11.68B · Total assets $24.30B · Shareholders' equity $953.0M
Dividends
Raised for 2 straight years — most recently to $0.3469 from $0.3446 in Jun 2024.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 10, 2024 | Jun 10 | Jul 8 | $0.3469 | raised from $0.3446 |
| May 19, 2023 | May 22 | Jun 7 | $0.3446 | raised from $0.344 split-adjusted |
| May 9, 2022 | May 10 | May 27 | $0.334 | raised from $0.2641 split-adjusted |
| Dec 16, 2021 | Dec 17 | Jan 4 | $0.264 |
Ownership
Shares outstanding 979.74M · Float 490.37M · 50.1% free float
Insiders — filings are in the shares behind the receipt.
This listing is a depositary receipt and the Form 4 positions here are filed in the shares behind it, a different unit from the share count and in a ratio the filings never state, so no insider percentage is shown.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Rubens Ometto Silveira Mello | 822.31M | 20.70% | 13D | Nov 12, 2025 |
| Renaissance Technologies LLC | 3.81M | 0.39% | 13F | May 14, 2026 |
| Monaco Asset Management Sam | 3.33M | 0.34% | 13F | May 11, 2026 |
| Marshall Wace, LLP | 2.37M | 0.24% | 13F | May 15, 2026 |
| Aquamarine Financial (Cayman) Ltd | 2.10M | 0.21% | 13F | May 15, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 18, 2026 | Burkhard Otto Cordes | director | +89,000 | $4.47 |
| May 26, 2026 | Burkhard Otto Cordes | director | +70,000 | $4.26 |
| May 22, 2026 | Rubens Ometto Silveira Mello | director | −77,640 | $3.44 |
| Apr 17, 2026 | Maria Rita de Carvalho Drummond | officer: Chief Legal Officer | −37,400 | $5.48 |
| Apr 16, 2026 | Maria Rita de Carvalho Drummond | officer: Chief Legal Officer | −36,200 | $5.48 |
Peers
- Ultrapar (ADR)
Ipiranga-branded retail fuel-distribution platform
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Cosan (ADR) | $2.82 | +0.18% | $2.76B | — | — | 0.4 | −48.7% |
| Ultrapar (ADR) | $6.38 | −1.27% | $6.89B | 10.5 | 13.9 | 0.2 | +28.1% |
| Median | 10.5 | 13.9 | 0.2 | +28.1% |