PagSeguro Is Too Cheap At 5x Earnings

Impact · against what's priced in

PagSeguro presents a value play where high credit growth and banking diversification offset stagnant core payment volumes. The primary catalyst is the extreme valuation discount, though systemic credit risk remains the central uncertainty.

PAGS+0.40

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In context

The 190% YoY growth in working capital loans provides a significant growth engine, though it is balanced against flat payment volume growth and a steep valuation discount at 5x forward earnings.

Read from the article alone

• valuation
• banking
• PAGS
• book value
• capital returns
• credit expansion
• payments

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