Azul (AZUL) Net Margin (2016 - 2026)
Azul's Net Margin came in at -20.91% for Q2 2026, down 47.08 percentage points from 26.17% a year earlier and down 130.95 percentage points from the prior quarter.
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Analysis
Azul (AZUL) Net Margin (2016 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Azul reported Net Margin of 11.06%, up 34.60 percentage points year-over-year; for FY2025, it was 0.58%, up 47.44 percentage points from FY2024.
- Net Margin carries a five-year change of +189.20 percentage points (FY2020 to FY2025).
- Going back by year, Net Margin was -46.87% in FY2024 (-34.04 pp), -12.83% in FY2023 (-8.30 pp), -4.53% in FY2022 (+37.71 pp) and -42.23% in FY2021 (+146.39 pp).
- The five-year range for quarterly Net Margin is -417830835661.67% (Q3 2022) to 110.03% (Q1 2026).
- Year-over-year, Net Margin increased in five of the last eight quarters, with an average year-over-year change of +18.35 percentage points.
- The fastest year-over-year change in Net Margin over five years came in Q3 2023 (a gain of 417830835628.82 percentage points), and the weakest in Q3 2022 (a drop of 417830835649.40 percentage points).
- Business Quant data shows AZUL's Net Margin at 110.03% (Q1 2026), -28.57% (Q4 2025) and -74.62% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 172.47 Bn | 164.72 Bn | - | 28.85% |
| 2 | United Parcel Service | 92.24 Bn | 69.07 Bn | - | 5.09% |
| 3 | Csx | 90.81 Bn | 86.03 Bn | - | 26.19% |
| 4 | Canadian Pacific Kansas City | 81.61 Bn | 80.64 Bn | - | 21.74% |
| 5 | Fedex | 72.98 Bn | 39.17 Bn | - | 6.39% |
| 6 | Norfolk Southern | 71.87 Bn | 66.34 Bn | - | 21.53% |
| 7 | Delta Air Lines | 57.23 Bn | 39.41 Bn | - | 3.75% |
| 8 | United Airlines Holdings | 36.65 Bn | -21.05 Bn | - | 5.76% |
| 9 | Old Dominion Freight Line | 34.12 Bn | 32.96 Bn | - | 21.61% |
| 10 | Azul | 3.54 Bn | 2.57 Bn | - | -20.91% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -20.91% |
| Mar 31, 2026 | 110.03% |
| Dec 31, 2025 | -28.57% |
| Sep 30, 2025 | -74.62% |
| Jun 30, 2025 | 26.17% |
| Mar 31, 2025 | 30.65% |
| Dec 31, 2024 | -146.41% |
| Sep 30, 2024 | 2.36% |
| Jun 30, 2024 | -91.30% |
| Mar 31, 2024 | -22.45% |
| Dec 31, 2023 | -14.28% |
| Sep 30, 2023 | -32.85% |
| Jun 30, 2023 | 0.56% |
| Mar 31, 2023 | -7.19% |
| Dec 31, 2022 | -30.98% |
| Sep 30, 2022 | -417,830,835,661.67% |
| Jun 30, 2022 | -18.38% |
| Mar 31, 2022 | -25.32% |
| Dec 31, 2021 | -216.35% |
| Sep 30, 2021 | -12.27% |
API Access
Azul Net Margin 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=net-margin&ticker=AZUL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "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=net-margin&ticker=AZUL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();