# Tag: free cash flow

- [Petrobras Looks Increasingly Like an Oil Major. But It Can’t Be Just Another One](https://brazilstockguide.com/behind-the-lines/petrobras-oil-major-valuation-discount/) (2026-09-29): Production, cash generation and a healthy balance sheet already put Petrobras closer to the world’s largest oil companies. Its valuation discount also reflects the cost of a company that must serve both shareholders.
- [Minerva’s EBITDA Grinder](https://brazilstockguide.com/behind-the-lines/minervas-ebitda-grinder/) (2026-06-01): Global demand is not the problem for Brazil’s beef exporter. Turning scale into shareholder value is.
- [Qualicorp Profit Rises to R$19.2 Million, But Revenue Still Shows Pressure](https://brazilstockguide.com/insights/qualicorp-profit-rises-to-r19-2-million-but-revenue-still-shows-pressure/) (2026-05-13): Its administered portfolio keeps shrinking, while cost cuts, cash generation and deleveraging support the company’s turnaround case.
- [Hapvida cuts medical costs, but still owes investors a turnaround](https://brazilstockguide.com/insights/hapvida-cuts-medical-costs-but-still-owes-investors-a-turnaround/) (2026-05-11): Lower medical expenses helped margins in Q1 2026, but health plan membership losses, a net loss and higher leverage kept the recovery incomplete.
- [Brent Tests Brazil’s Oil Juniors](https://brazilstockguide.com/insights/brent-tests-brazils-oil-juniors/) (2026-05-11): First-quarter earnings from PRIO, Brava and PetroReconcavo show how a crude rally that gained force in March is starting to separate Brazil’s independent oil producers.
- [Petrobras Faces Dividend Risk as Capex and One-Offs Pressure 4Q25 Cash Flow](https://brazilstockguide.com/insights/petrobras-dividend-risk-4q25-capex/) (2026-02-03): BTG Pactual flags downside to market expectations, citing heavier investments and extraordinary outflows late in the year.
- [PRIO Rating Raised by Moody’s After Peregrino Deal Lifts Scale, Cash Flow](https://brazilstockguide.com/insights/prio-moodys-upgrade-peregrino/) (2026-01-26): Moody’s upgrades Brazilian oil producer to Ba2 as acquisition boosts output nearly 60%, reshaping leverage and reserve profile.
- [Suzano Cuts 2026 Capex by 18% as Mega Expansion Cycle Winds Down](https://brazilstockguide.com/insights/suzano-capex-2026-cut-cash-generation/) (2025-12-09): Brazil’s largest pulp producer signals shift toward cash discipline after peak investment phase tied to Project Cerrado and forest base expansion.
- [Brava Energia at an inflection point after 2Q and Investor Day; Itaú BBA starts with Outperform on BRAV3](https://brazilstockguide.com/insights/brava-energia-at-an-inflection-point-after-2q-and-investor-day-itau-bba-starts-with-outperform-on-brav3/) (2025-08-20): Broker calls highlight efficiency gains and offshore focus, while oil-price sensitivity keeps a lid on near-term upside