AZUL SA (AZULQ) Balance sheet

Market cap

P/E ratio

	2017/12	2018/12	2019/12	2020/12	2021/12	2022/12	2023/12	2024/12	2025/12
Cash and cash equivalents	762	1,169	1,648	3,065	3,074	668	1,897	1,210	992
Total cash & short-term investments	762	1,169	1,648	3,065	3,074	668	1,897	1,210	992
Accounts receivable, net	914	1,069	1,166	875	998	1,804	1,109	1,775	2,723
Inventories	150	200	261	403	572	722	799	944	973
Total current assets	3,304	3,522	4,139	5,417	5,846	4,872	5,044	5,658	6,304
Property, plant and equipment, net	3,326	3,289	1,969	6,410	1,961	1,953	2,296	3,035	2,772
Total non-current assets	7,012	8,271	15,059	10,377	12,687	13,849	15,489	20,617	17,334
Total assets	10,316	11,793	19,197	15,794	18,533	18,721	20,533	26,275	23,638
Accounts payable	954	1,166	1,377	2,239	1,772	2,433	2,278	4,147	3,931
Total current liabilities	3,334	4,057	6,862	10,213	11,710	15,056	14,749	21,342	29,473
Total non-current liabilities	4,149	4,573	15,855	19,731	25,156	22,673	27,112	35,368	23,203
Retained earnings	-1,215	-836	-7,516	-18,351	-22,564	-23,287	-25,667	-34,819	-34,694
Stockholders' equity	2,834	3,164	-3,519	-14,149	-18,333	-19,007	-21,328	-30,435	-29,038
Working capital