Azul (AZUL) Invested Capital (2016 - 2026)
Azul (AZUL) posted Invested Capital of $3.4 billion for Q2 2026, up 39.3% from $2.44 billion a year earlier but down 0.3% from the prior quarter.
Powered by 
Analysis
Azul (AZUL) Invested Capital (2016 - 2026) Analysis & Trends
For FY2025, Azul's Invested Capital came in at $5.44 billion, up 84.4% from FY2024.
- Annual Invested Capital has increased for three consecutive years.
- In prior years, Azul's Invested Capital was $2.95 billion in FY2024 (+23.8%), $2.38 billion in FY2023 (+25.4%), $1.9 billion in FY2022 (-17.6%) and $2.31 billion in FY2021.
- Quarterly Invested Capital has run from a low of -$1.28 billion in Q3 2021 to a high of $8.29 billion in Q2 2023 over five years.
- On a year-over-year basis, Invested Capital increased in seven of the last eight quarters, with growth averaging 101.3%.
- The strongest year-over-year quarter for Invested Capital in the past five years was Q1 2025, with growth of 466.5%; the weakest was Q2 2024, with a decline of 71.6%.
- According to Business Quant data, Invested Capital for the three prior quarters was $3.41 billion (Q1 2026), $5.44 billion (Q4 2025) and $6.93 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 172.47 Bn | 164.72 Bn | - | 52.34 Bn |
| 2 | United Parcel Service | 92.24 Bn | 69.07 Bn | - | 41.10 Bn |
| 3 | Csx | 90.81 Bn | 86.03 Bn | - | 33.19 Bn |
| 4 | Canadian Pacific Kansas City | 81.61 Bn | 80.64 Bn | - | 51.16 Bn |
| 5 | Fedex | 72.98 Bn | 39.17 Bn | - | 56.62 Bn |
| 6 | Norfolk Southern | 71.87 Bn | 66.34 Bn | - | 33.34 Bn |
| 7 | Delta Air Lines | 57.23 Bn | 39.41 Bn | - | 36.46 Bn |
| 8 | United Airlines Holdings | 36.65 Bn | -21.05 Bn | - | 44.15 Bn |
| 9 | Old Dominion Freight Line | 34.12 Bn | 32.96 Bn | - | 4.69 Bn |
| 10 | Azul | 3.54 Bn | 2.57 Bn | - | 3.40 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 3.40 Bn |
| Mar 31, 2026 | 3.41 Bn |
| Dec 31, 2025 | 5.44 Bn |
| Sep 30, 2025 | 6.93 Bn |
| Jun 30, 2025 | 2.44 Bn |
| Mar 31, 2025 | 3.68 Bn |
| Dec 31, 2024 | 2.95 Bn |
| Sep 30, 2024 | 2.36 Bn |
| Jun 30, 2024 | 2.36 Bn |
| Mar 31, 2024 | 650.45 Mn |
| Dec 31, 2023 | 2.38 Bn |
| Sep 30, 2023 | 2.22 Bn |
| Jun 30, 2023 | 8.29 Bn |
| Mar 31, 2023 | 1.50 Bn |
| Dec 31, 2022 | 1.90 Bn |
| Sep 30, 2022 | 1.88 Bn |
| Jun 30, 2022 | 1.96 Bn |
| Mar 31, 2022 | 2.50 Bn |
| Dec 31, 2021 | 2.31 Bn |
| Sep 30, 2021 | -1.28 Bn |
API Access
Azul Invested Capital 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=invested-capital&ticker=AZUL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=AZUL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();