Afya Ltd Reports Solid First-Half 2026 Results and Strong Shareholder Returns

Earnings
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Summary · why it matters

Afya Ltd reported first-half 2026 revenue of R$1,985 million, up 7% year-over-year, with net income rising 7% to R$463 million. Adjusted EBITDA grew 3% to R$918 million, though the margin contracted 190 basis points to 46.2%. The company returned R$448 million to shareholders through dividends and buybacks, representing 106% of free cash flow to equity. Management highlighted a favorable legal injunction lifting restrictions on medical seats, which could allow additional seat filling in the second half, and confirmed full-year EBITDA guidance of R$1.7 billion to R$1.8 billion.

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