Zenvia Inc.

ZENVF
About the company

Zenvia Inc. develops a cloud-based platform that enables organizations to integrate various communication capabilities in Brazil, the United States, Argentina, Mexico, the Netherlands, Malta, Peru, Switzerland, Colombia, Chile, and internationally. It operates in Software-as-a-Service and Communications Platform as a Service segments.

Country: BrazilPrice: $0.01Market Cap: $525,672

Investment snapshot

24%positive consensus
Scored 1d ago

Positive

4

BUY / PASS

Neutral / negative

3 / 9

NEUTRAL / FAIL

Median fair value

$17.68

+176650.0% vs price

Models with upside

2 / 17

Positive margin of safety

Strongest signal

ZENVF undervalued: all 2 models price fair value above $0.01 (median $17.68)

Key risk

14 of 16 flag ZENVF's profitability — Graham, Buffett, Lynch +11 more

Framework analysis

VerdictMeaning
BUYPositive purchase signal: the framework's buy requirements are met.
PASSThe company clears the framework's checklist or screen, but the framework does not produce a buy signal. For valuation frameworks this often means margin of safety is missing, insufficient, or unavailable; some screen-only frameworks have no intrinsic-value BUY state.
NEUTRALNeither a positive nor negative conclusion. It does not mean to hold an existing position.
FAILThe company does not clear the framework's requirements.
RankedRanked strategies do not use PASS: selected cohort is BUY, outside the cohort is FAIL, and unranked is NEUTRAL.

Current investor scores use trailing 12-month flows and the latest balance sheet where supported. Multi-year and EPS tests retain annual history; each framework shows its financial basis below. Intrinsic values use annual financials.

MetricGraham

Defensive Value

Buffett

Quality Compounder

Lynch

GARP

Greenblatt

Magic Formula

Piotroski

F-Score

Dreman

Contrarian Value

Munger

Quality Focus

Pabrai

Dhandho Framework

Akre

Three-Legged Stool

Marks

Risk-Aware Value

Ackman

Activist Value

Templeton

Global Bargain Hunter

Sleep

Scale Economies Shared

Asness

Systematic Factors

Neff

Low-P/E Total Return

Schloss

Asset-Value Discipline

O'Shaughnessy

Systematic Factor Composite

VerdictFAILFAILFAILNot rankedPASSFAILPASSNEUTRALFAILFAILPASSPASSNEUTRALFAILFAILFAILNEUTRAL
Score
AnalysisChecking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…
Intrinsic Value (annual)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Margin of SafetyN/AN/AN/AN/AN/AN/A+99.9%N/AN/AN/A+100.0%N/AN/AN/AN/AN/AN/A
Financial Basis

Annual history · FY 2024

Latest source filing: 2025-05-16

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-05-16

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-05-16

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-05-16

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-05-16

Score computed: 2026-11-14

Annual history · FY 2024 · Market data at 2026-11-01

Latest source filing: 2025-05-16

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2024

Latest source filing: 2025-05-16

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2024

Latest source filing: 2025-05-16

Score computed: 2026-11-14

Annual history · FY 2024 · Qualitative assessment

Latest source filing: 2025-05-16

Score computed: 2026-11-14

Annual history · FY 2024 · Qualitative assessment

Latest source filing: 2025-05-16

Score computed: 2026-11-14

Annual history · FY 2024 · Market data at 2026-11-01

Latest source filing: 2025-05-16

Score computed: 2026-11-14

Annual history · FY 2024 · Price history 2025-01-01–2026-11-01

Latest source filing: 2025-05-16

Score computed: 2026-11-14

Annual history · FY 2024 · Qualitative assessment

Latest source filing: 2025-05-16

Score computed: 2026-11-14

Annual history · FY 2024 · Price history 2025-01-01–2026-11-01

Latest source filing: 2025-05-16

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-05-16

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-05-16

Score computed: 2026-11-14

Annual history · FY 2024 · Price history 2025-01-01–2026-11-01

Latest source filing: 2025-05-16

Score computed: 2026-11-14

Where It Passes

  • Valuation models100% pass✓ 2▾

    ZENVF undervalued: all 2 models price fair value above $0.01 (median $17.68)

    Munger fair value$14.13
    ✓Munger+99.9% margin vs $0.01
    Ackman fair value$21.22
    ✓Ackman+100.0% margin vs $0.01
  • Cash Flow80% pass✓ 10✗ 2▾

    8 of 10 pass — Buffett and Lynch object

    Free Cash Flow Proxy$-10.8M
    ✗BuffettPositive and growing
    FCF Positive and Growing$16.7M
    ✗LynchPositive and growing
    Operating Cash Flow$17.4M
    ✓PiotroskiCFO > 0
    (CFO / Total Assets) vs ROACFO/Assets=6.18%, ROA=-8.87%
    ✓PiotroskiCFO/Assets > ROA
    Price / (CFO / Shares)0.0x
    ✓Dreman< 8x
    P/E or FCF YieldFCF Yield=3185.4%
    ✓PabraiP/E < 15 or FCF Yield > 10%
    FCF Positive5/6 years FCF positive
    ✓MarksPositive FCF in majority of recent years
    (OCF - CapEx) / Market Cap5923.2%
    ✓Ackman>= 4%
    Price / FCF per Share0.0x
    ✓Ackman<= 25
    Positive Operating Cash Flow frequency5/6 years positive
    ✓SleepPositive OCF in >= 70% of available years
    Operating Cash Flow - Capital Expenditures$16.7M
    ✓Neff> $0 (app proxy for a strong fundamental case)
    (Operating cash flow - capex) / market capitalization+3185.39%; #13/4519 (top 0.3%)
    ✓OshaughnessyTop 10% of eligible cross-section

Where It Falls Short

  • Profitability13% pass✓ 4✗ 31▾

    14 of 16 flag ZENVF's profitability — Graham, Buffett, Lynch +11 more

    Positive EPS (10 years)1/7 years positive
    ✗GrahamPositive EPS every year for 10 years
    EPS Growth (3-yr avg, 10-yr window)
    ✗Graham>= 33% growth
    Net Income Positive (10+ years)1/7 years positive
    ✗BuffettPositive every year for 10+ years
    ROE (up to 5-year arithmetic mean)-14.9%
    ✗Buffett> 15% arithmetic mean (app rule)
    Operating Margin (10-yr trend)0.3% (latest)
    ✗BuffettStable or rising over 10 years
    Free Cash Flow Proxy$-10.8M
    ✗BuffettPositive and growing
    Earnings Variance (10-yr CoV)
    ✗BuffettCoV < 0.3
    Retained Earnings Effectiveness
    ✗Buffett$1 retained -> > $1 market value created
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    ROE-20.0%
    ✗Lynch> 15%
    EBIT / Enterprise Value4.0%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=4.0%, ROC=N/A (invested capital <= 0)
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Net Income / Total Assets-8.87%
    ✗PiotroskiROA > 0
    ROA Change YoY-3.56% -> -8.87% (delta: -5.31%)
    ✗PiotroskiCurrent ROA > Prior ROA
    (CFO / Total Assets) vs ROACFO/Assets=6.18%, ROA=-8.87%
    ✓PiotroskiCFO/Assets > ROA
    Gross Margin Change YoY40.9% -> 30.7%
    ✗PiotroskiImproved YoY
    Pre-Tax Income / Revenue-13.3%
    ✗Dreman>= 8%
    Net Income / Shareholders' Equity-20.0%
    ✗Dreman> 12%
    Margin of SafetyP/B=0.0x
    ✓PabraiP/B < 1.5 or P/E < 15
    Return on Equity-17.5% (3-yr avg)
    ✗AkreROE > 20% (3-year avg)
    Discount to Intrinsic ValueN/A (negative normalized EPS)
    ✗Marks>= 20% below intrinsic value
    Positive Net Income Frequency1/6 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    Operating Income / Revenue0.3%
    ✗Ackman>= 15%
    Net Income / Shareholders Equity-20.0%
    ✗Ackman>= 15%
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Operating Margin Trend-38.2% (2022) -> 0.3% (2024)
    ✓TempletonNon-negative operating-margin trend over 3 years
    Revenue growth vs. gross and operating margin trendgross margin 38.2% -> 30.7%, operating margin -38.2% -> 0.3%
    ✓SleepRevenue rising; gross margin flat or falling; operating margin holding
    Net income / market capitalization-4762.30%; #6210/6340 (top 97.9%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Gross profit / total assets+16.91%; #2285/3702 (top 61.7%)
    ✗AsnessTop 30% of eligible cross-section
    Net income / positive book equity-20.05%; #3682/5226 (top 70.5%)
    ✗AsnessTop 30% of eligible cross-section
    Negative 5-year standard deviation of ROA-0.0406; #2305/5884 (top 39.2%)
    ✗AsnessTop 30% of eligible cross-section
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
    Positive Diluted-EPS Years1/6 years positive
    ✗Schloss>= 70% positive over 5-10 observed years (app rule)
  • Growth13% pass✓ 4✗ 9▾

    7 of 8 flag ZENVF's growth — Graham, Lynch, Dreman +4 more

    EPS Growth (3-yr avg, 10-yr window)
    ✗Graham>= 33% growth
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    Inventory Growth vs Revenue GrowthN/A (no inventory)
    ✓LynchInventory growth < Revenue growth
    EPS Growth Direction
    ✗DremanPositive over recent years
    EPS CAGR
    ✗Dreman> 5% annualized
    Positive Net Income Frequency1/6 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    3yr Median Revenue Growth16.3%
    ✓Ackman>= 5%
    Positive EPS Growth Frequency
    ✗AckmanPositive EPS growth in >= 3 of last 5 years
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Revenue growth vs. gross and operating margin trendgross margin 38.2% -> 30.7%, operating margin -38.2% -> 0.3%
    ✓SleepRevenue rising; gross margin flat or falling; operating margin holding
    5-year Revenue CAGR12.0%
    ✓SleepCAGR > 7%
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
  • Efficiency13% pass✓ 2✗ 9▾

    7 of 8 flag ZENVF's efficiency — Graham, Buffett, Greenblatt +4 more

    Current Ratio0.47
    ✗Graham>= 2.0
    ROIC (3-5 yr avg)-6.7%
    ✗Buffett> 10%
    ROIC - WACC-16.7%
    ✗BuffettPositive (WACC = 10%)
    EBIT / (NWC + Net Fixed Assets)N/A (invested capital <= 0)
    ✗Greenblatt> 25%
    Current Ratio Change YoY0.41 -> 0.47
    ✓PiotroskiIncreased YoY
    Revenue / Total Assets Change YoY0.47x -> 0.55x
    ✓PiotroskiImproved YoY
    Current Assets / Current Liabilities0.47
    ✗Dreman> 1.5
    Return on Invested Capital0.3%
    ✗Munger> 15%
    ROIC (high and growing)FY2022: ROIC=-20.4%; FY2023: ROIC=-0.9%; FY2024: ROIC=0.3%
    ✗AkreLatest 3 consecutive FYs: ROIC > 15% in each
    Reinvestment Rate x ROICN/A (non-positive net income)
    ✗AkreReinvestment Rate * ROIC > 10%
    ROIC (5-year)0/5 years above 12% (latest 0.3%)
    ✗SleepROIC > 12% in a majority of years
  • Valuation15% pass✓ 12✗ 16▾

    11 of 13 flag ZENVF's valuation — Graham, Lynch, Greenblatt +8 more

    Price / 3-yr avg EPS
    ✗Graham<= 15x
    Price-to-Book Ratio0.0x
    ✓Graham<= 1.5x
    P/E x P/B
    ✗Graham<= 22.5
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    EBIT / Enterprise Value4.0%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=4.0%, ROC=N/A (invested capital <= 0)
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Price / EPS
    ✗Dreman< 12x✗Templeton< 12x (fixed ceiling; proxy for the market's cheapest 40%)
    Price / (CFO / Shares)0.0x
    ✓Dreman< 8x
    Price / Book Value per Share0.0x
    ✓Dreman< 1.2x✓Templeton< 1.5x✓SchlossP/B <= 0.80x (app cutoff)
    Valuation ReasonablenessOE Yield=-3834.2%
    ✗MungerP/E < 25 or Owner Earnings Yield > 5%
    P/E or FCF YieldFCF Yield=3185.4%
    ✓PabraiP/E < 15 or FCF Yield > 10%
    P/B or P/E vs. Historical AverageP/B=0.0x
    ✓MarksP/E < 15 or P/B < 2.0
    Discount to Intrinsic ValueN/A (negative normalized EPS)
    ✗Marks>= 20% below intrinsic value
    Price / FCF per Share0.0x
    ✓Ackman<= 25
    Price vs. Trailing Low1667% of trailing low ($0.00)
    ✗Templeton<= 120% of trailing low (certified split-adjusted live window)
    Net income / market capitalization-4762.30%; #6210/6340 (top 97.9%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Positive book equity / market capitalization+237.5376; #39/6449 (top 0.6%)
    ✓AsnessTop 30% of eligible cross-section
    Price / Diluted EPS
    ✗NeffP/E <= 15x (app proxy for a P/E 40%-60% below the market)
    (EPS CAGR % + Dividend Yield %) / P/E
    ✗Neff> 0.7 (Neff's published traditional edge)
    Price / Tangible Book Value per Share0.00x
    ✓SchlossP/TBV <= 1.00x (app cutoff)
    Book Value per Share Change
    ✗SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)
    Revenue / market capitalization+295.5090; #52/5247 (top 1.0%)
    ✓OshaughnessyTop 10% of eligible cross-section
    (Operating cash flow - capex) / market capitalization+3185.39%; #13/4519 (top 0.3%)
    ✓OshaughnessyTop 10% of eligible cross-section
    Trailing six-month price return through the evaluation date-93.37%; #6041/6202 (top 97.4%)
    ✗OshaughnessyTop 10% of eligible cross-section
  • Verdicts31% pass✓ 4✗ 9▾

    Split decision: 9 FAIL · 4 PASS · 3 NEUTRAL

    Overall verdict
    ✗GrahamFAIL (2/9)✗BuffettFAIL (0/9)✗LynchFAIL (3/7)•GreenblattNot ranked✓PiotroskiPASS (F-Score 5)✗DremanFAIL (3/11)✓MungerPASS (2/4)•PabraiNEUTRAL (2/3)✗AkreFAIL (2/6)✗MarksFAIL (2/5)✓AckmanPASS (5/9)✓TempletonPASS (4/8)•SleepNEUTRAL (4/6)✗AsnessFAIL (Rank #1993/2370 (Top 84.1%))✗NeffFAIL (2/6)✗SchlossFAIL (3/7)•OshaughnessyNEUTRAL (Not ranked)
  • Debt & Leverage50% pass✓ 9✗ 6▾

    6 of 12 pass — Graham, Buffett, Dreman +3 more object

    LT Debt vs Net Current AssetsLT Debt $7.4M vs NCA $-57.6M
    ✗GrahamLT Debt <= Net Current Assets
    Debt/Equity & Interest CoverageD/E: 0.16, IC: 0.0x
    ✗BuffettD/E < 0.5 AND Interest Coverage > 5x
    Total Debt / Equity0.16
    ✓Lynch< 0.33
    Cash - Long-term Debt$0.2M
    ✓LynchPositive preferred
    LT Debt / Total Assets Change3.02% -> 2.62%
    ✓PiotroskiDecreased YoY
    Current Assets / Current Liabilities0.47
    ✗Dreman> 1.5✗SchlossCurrent ratio >= 1.50x (app cutoff)
    Total Debt / Shareholders' Equity0.16
    ✓Dreman< 0.8✓Templeton< 1.0 (fixed cap; proxy for below-sector-median leverage)✓SchlossD/E < 1.00x
    Debt Levels0.16
    ✓MungerDebt/Equity < 0.5✓AkreDebt/Equity < 0.3
    Interest Coverage & Debt/EBITDAIC=0.0x, D/EBITDA=1.3x
    ✗MarksInterest Coverage > 3x; Debt/EBITDA < 4x
    Total Debt / Shareholders Equity0.16
    ✓Ackman<= 1.0
    Negative debt-to-equity (higher means less debt)-0.1644; #1550/4210 (top 36.8%)
    ✗AsnessTop 30% of eligible cross-section

Business & financials

Financial snapshot: annual FY 2024. Current investor scores may use newer quarterly data.

Company Profile

Industry: Business Services
Size: Micro Cap($525,672)
Revenue: $155.3M-6.7% YoY
Net Income: $25.0M-99.0% YoY

Financial Snapshot

Operating Margin0.3%
Return on Equity-20.0%
Debt / Equity0.16
Current Ratio0.47
EPS (Diluted)$-0.50

Similar Companies

ADPAUTOMATIC DATA PROCESSING INC
$122.3B
EAELECTRONIC ARTS INC.
$52.9B
RBRKRubrik, Inc.
$22.6B
ACMAECOM
$9.1B

Company Financials

Latest TTM and quarters alongside annual years

TTM sums four consecutive quarters and uses the latest quarter-end balances. Quarter columns show three-month results; annual columns show full-year totals. Growth compares the same period a year earlier. EPS is not added for TTM; full-year ratios are blank for quarters.

MetricFY 2024
Sources
  • 20-F · 2025-05-16
FY 2023
Sources
  • 20-F · 2024-05-15
FY 2022
Sources
  • 20-F · 2023-04-28
FY 2021
Sources
  • 20-F · 2022-03-31
FY 2020
Sources
  • 20-F · 2022-03-31
Market Cap$525.7Kcurrent$47.6Mest.$49.5Mest.$103.9Mest.$256.3Mest.
Revenue$155.3M↓7%$166.5M↑16%$143.2M↑30%$109.9M↑33%$82.8M
Operating Income$530.1K↑124%-$2.2M↑96%-$54.7M↓555%-$8.3M↓96%-$4.3M
Net Income-$25.0M↓99%-$12.6M↑73%-$46.0M↓474%-$8.0M↓94%-$4.1M
EPS (Diluted)$-0.50↓65%$-0.30↑73%$-1.11↓350%$-0.25↓37%$-0.18
Gross Margin30.7%↓25%40.9%↑7%38.2%↑29%29.5%↑22%24.2%
Operating Margin0.3%↑126%-1.3%↑97%-38.2%↓403%-7.6%↓48%-5.1%
ROE-20.0%↓192%-6.9%↑73%-25.5%↓587%-3.7%↑80%-18.6%
Total Debt$20.5M↑13%$18.1M↓43%$31.6M↓16%$37.4M↑96%$19.1M
Shareholders' Equity$124.9M↓32%$183.3M↑2%$180.4M↓16%$216.0M↑872%$22.2M
Current Ratio0.47↑15%0.41↓37%0.66↓63%1.78↑161%0.68
Debt / Equity0.16↑66%0.10↓44%0.18↑1%0.17↓80%0.86
Operating Cash Flow$17.4M↓48%$33.5M↑63%$20.5M↑218%-$17.5M↓296%$8.9M
Free Cash Flow$16.7M↓49%$32.9M↑72%$19.2M↑203%-$18.5M↓332%$8.0M

Score history

Historical Score Timeline

Industry peers

Industry Peers

Similar companies in Business Services

ZENVF vs Peers — Financial Grading

Revenue$155.3MBottom 25%
Net Income$25.0MMedian
ROE-20.0%Bottom 25%
D/E0.16Top 25%
Op. Margin0.3%Bottom 25%
Curr. Ratio0.47Bottom 25%
CompanyMarket CapPriceRevenueNet IncomeROED/EOp. MarginCurr. RatioGrahamBuffettLynchGreenblattPiotroskiDreman
AUTOMATIC DATA PROCESSING INCADP$122.3B$309.93$21.9B$4.4B73.2%0.8224.2%1.054/95/93/70/3F-Score 65/11
ELECTRONIC ARTS INC.EA$52.9B$209.70$7.5B$887.0M13.1%0.2215.4%1.051/94/94/70/3F-Score 66/11
Rubrik, Inc.RBRK$22.6B$109.88$1.3B$348.8M67.1%—-26.2%1.691/90/92/70/3F-Score 62/11
AECOMACM$9.1B$70.50$16.1B$561.8M22.5%1.096.4%1.141/93/93/71/3F-Score 82/11
COMMVAULT SYSTEMS INCCVLT$6.2B$152.07$1.2B$70.7M942.8%—6.3%1.951/92/94/70/3F-Score 66/11
WPP plcWPP$6.0B$27.79$18.2B$289.5M-8.5%1.942.8%0.891/92/91/70/3F-Score 32/11
VARONIS SYSTEMS INCVRNS$5.6B$48.94$623.5M$129.3M-21.6%0.76-23.5%1.971/90/91/70/3F-Score 51/11
ROBERT HALF INC.RHI$4.3B$42.00$5.4B$133.0M10.4%—1.4%1.532/95/91/70/3F-Score 52/11