Azul (AZUL) Debt Ratio (2016 - 2026)
Azul's Debt Ratio came in at 0.74 for Q2 2026, down 49.5% from 1.46 a year earlier but up 6.1% from the prior quarter.
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Analysis
Azul (AZUL) Debt Ratio (2016 - 2026) Analysis & Trends
For FY2025, Azul's Debt Ratio was 2.49, up 34.4% from FY2024.
- Debt Ratio has increased in each of the last three years.
- Going back by year, Debt Ratio was 1.85 in FY2024 (+15.6%), 1.60 in FY2023 (+3.2%), 1.55 in FY2022 (-7.8%) and 1.68 in FY2021 (+153.1%).
- The five-year range for quarterly Debt Ratio is 0.62 (Q3 2021) to 2.49 (Q4 2025).
- Year-over-year, Debt Ratio increased in five of the last eight quarters, with growth averaging 2.6%.
- The fastest year-over-year change in Debt Ratio over five years came in Q3 2022 (growth of 167.2%), and the weakest in Q1 2026 (a decline of 64.2%).
- Business Quant data shows AZUL's Debt Ratio at 0.70 (Q1 2026), 2.49 (Q4 2025) and 2.33 (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 172.47 Bn | 164.72 Bn | - | 0.42 |
| 2 | United Parcel Service | 92.24 Bn | 69.07 Bn | - | 0.36 |
| 3 | Csx | 90.81 Bn | 86.03 Bn | - | 0.42 |
| 4 | Canadian Pacific Kansas City | 81.61 Bn | 80.64 Bn | - | 0.29 |
| 5 | Fedex | 72.98 Bn | 39.17 Bn | - | 0.25 |
| 6 | Norfolk Southern | 71.87 Bn | 66.34 Bn | - | 0.36 |
| 7 | Delta Air Lines | 57.23 Bn | 39.41 Bn | - | 0.16 |
| 8 | United Airlines Holdings | 36.65 Bn | -21.05 Bn | - | 0.31 |
| 9 | Old Dominion Freight Line | 34.12 Bn | 32.96 Bn | - | 0.00 |
| 10 | Azul | 3.54 Bn | 2.57 Bn | - | 0.74 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 0.74 |
| Mar 31, 2026 | 0.70 |
| Dec 31, 2025 | 2.49 |
| Sep 30, 2025 | 2.33 |
| Jun 30, 2025 | 1.46 |
| Mar 31, 2025 | 1.94 |
| Dec 31, 2024 | 1.85 |
| Sep 30, 2024 | 1.66 |
| Jun 30, 2024 | 1.71 |
| Mar 31, 2024 | 1.23 |
| Dec 31, 2023 | 1.60 |
| Sep 30, 2023 | 1.66 |
| Jun 30, 2023 | 1.20 |
| Mar 31, 2023 | 1.57 |
| Dec 31, 2022 | 1.55 |
| Sep 30, 2022 | 1.65 |
| Jun 30, 2022 | 1.52 |
| Mar 31, 2022 | 1.55 |
| Dec 31, 2021 | 1.68 |
| Sep 30, 2021 | 0.62 |
API Access
Azul Debt Ratio API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=debt-ratio&ticker=AZUL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "debt-ratio", "ticker": "AZUL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=debt-ratio&ticker=AZUL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();