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PicS N.V.

PICS NASDAQ Categories PDF
Technology · Software - Infrastructure
São Paulo, SP 05317-020, Brazil IPO 2026 picpay.com Updated Jun 26, 10:02pm
Price
$10.55
Market Cap
$1.4B
Employees
4,202
Beta
2.88
Avg Volume
468,311
CEO
Eduardo Chedid Simoes
Business 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 wallet and mobile application designed for both individual consumers and businesses. For its individual users, PicS N.V. facilitates a wide array of transactional services. These include instant payments via Brazil's Pix system, peer-to-peer transfers within the PicPay ecosystem, convenient bill payment options, payroll portability, and even a global account feature. Furthermore, a dedicated payment assistant helps users consolidate, organize, and settle their various bills through a centralized hub. Beyond payments, PicS N.V. extends its financial product suite to include versatile multipurpose cards and a variety of lending solutions. These encompass personal loans, installment payment options, and specialized payroll loans tailored for public servants, retirees, pensioners, and formally employed workers. It also grants access to the FGTS annual birthday withdrawal program. The company further operates a digital insurance platform, distributing products like digital wallet insurance, PicPay Card bill protection, credit life insurance, smartphone protection, life insurance, and home insurance. Additionally, it caters to diverse investor profiles and financial objectives with a selection of investment products. For small and medium-sized businesses (SMEs), PicS N.V. provides a robust portfolio of services, including QR Code payment solutions, comprehensive banking services, and corporate benefits with salary advance options. The company also operates PicPay Shop, an integrated marketplace where consumers can purchase a variety of products and services, and PicPay Ads, an advertising platform that enables brands to engage with its active user base through contextually relevant placements within the application.

Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Last updated: Jun 22, 2026 3:54am (5d ago)
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
API Direct from provider CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALC
Stock Price / EPS (Diluted)
6.28
Stock Price: $10.55
EPS (Diluted): 1.68
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
3.48
Stock Price: $10.55
Total Equity: $1.61B
Shares: 129,587,543
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
11.60
Market Cap: $1.37B
Total Debt: $704.76M
Cash: $2.78B
EBITDA: $638.88M
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
$8.6B
Market Cap: $1.37B
Total Debt: $704.76M
Cash: $2.78B
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
83.1%
Gross Profit: $2.89B
Revenue: $5.19B
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
6.7%
Operating Income: $345.97M
Revenue: $5.19B
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
17.4%
Net Income: $217.57M
Revenue: $5.19B
ROE (Profit from shareholder equity)
CALC
Net Income / Total Equity
13.5%
Net Income: $217.57M
Total Equity: $1.61B
ROIC (Profit from all invested capital)
CALC
NOPAT / Invested Capital
-53.9%
Operating Income: $345.97M
Tax Rate: 27.2%
Equity: $1.61B
Total Debt: $704.76M
Cash: $2.78B
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
0.00
Current Assets: $11.21B
Current Liabilities: $23.58B
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
0.44
Short-Term Debt: $0.00
Long-Term Debt: $704.76M
Total Debt: $704.76M
Total Equity: $1.61B
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$40.01
Revenue: $5.19B
Shares: 129,587,543
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$12.41
Total Equity: $1.61B
Shares: 129,587,543
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$13.18
Operating CF: $2.29B
CapEx: -$582.05M
Shares: 129,587,543
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $10.55
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $217.57M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares PICS against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 22, 2026 3:54am (5d ago)
Metric 2021 2022 2023 2024
Revenue $1.2B $3.0B $3.1B $5.2B
Cost of Revenue $445.4M $1.3B $1.2B $2.3B
Gross Profit $778.4M $1.8B $1.9B $2.9B
Operating Expenses $2.7B $2.5B $1.9B $2.5B
Operating Income -$1.9B -$698.9M $1.7M $346.0M
Net Income -$1.6B -$45.7M $34.5M $217.6M
EBITDA -$1.9B -$624.5M $171.1M $638.9M
EPS $-12.02 $-0.35 $0.27 $1.68
EPS (Diluted) — — — —
Balance Sheet (Annual)
Last updated: Jun 22, 2026 3:54am (5d ago)
Metric 2021 2022 2023 2024
Cash & Equivalents $149.4M $134.6M $4.5B $2.8B
Total Current Assets $4.7B $4.7B $11.2B $11.2B
Total Assets $9.7B $12.2B $15.8B $27.3B
Current Liabilities $6.8B $10.6B $14.0B $23.6B
Long-Term Debt $2.2B $0 $0 $704.8M
Total Liabilities $9.3B $11.0B $14.6B $25.6B
Total Equity $239.9M $1.3B $1.3B $1.6B
Retained Earnings -$1.2B -$1.2B -$1.2B $224.6M
Cash Flow (Annual)
Last updated: Jun 22, 2026 3:54am (5d ago)
Metric 2021 2022 2023 2024
Operating Cash Flow -$2.5B $7.3B $1.6B $2.3B
Capital Expenditure -$243.9M -$217.8M -$502.1M -$582.1M
Free Cash Flow -$2.7B $7.1B $1.1B $1.7B
Acquisitions (net) -$54.8M $154.5M -$35.0M -$1.8B
Debt Repayment — — — —
Dividends Paid — — — —
Stock Buybacks $0 $0 $0 $0
Net Change in Cash $37.4M $6.2B $1.0B $92.6M
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 10:02pm (10h ago)
Metric 2027 2028 2029 2030
Revenue $3.8B
$3.6B – $3.9B
 $4.3B
$4.1B – $4.5B
 $6.4B
$6.2B – $6.7B
 $7.7B
$7.5B – $8.1B
EBITDA -$681.9M
-$712.3M – -$663.4M
 -$774.8M
-$809.2M – -$753.7M
 -$1.2B
-$1.2B – -$1.1B
 -$1.4B
-$1.5B – -$1.4B
Net Income $414.4M
$113.4M – $715.5M
 $569.4M
$547.5M – $591.4M
 $1.3B
$1.2B – $1.3B
 $1.8B
$1.8B – $1.9B
EPS — — — —
Growth Trends (YoY %)
Last updated: Jun 22, 2026 3:54am (5d ago)
Metric 2022 2023 2024
Revenue Growth +147.1% +1.6% +68.7%
Gross Profit Growth +126.7% +5.1% +55.7%
Operating Income Growth +63.2% +100.2% +20,654.2%
Net Income Growth +97.1% +175.6% +530.2%
EBITDA Growth +66.3% +127.4% +273.4%
Narrative Economics
The story the market is telling about this stock — the intangible X-factor (founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for PICS — it's generated by the pipeline (market-narrative step).
Community AI Feedback
No community reviews yet for PICS. Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes personal — only you see this
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30