Azul (AZUL) Return on Capital Employed [ROCE] (2016 - 2026)
Azul's Return on Capital Employed [ROCE] was 41.30% in Q2 2026, down 176.43 percentage points from 217.73% a year earlier and down 16.29 percentage points from the prior quarter.
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Analysis
Azul (AZUL) Return on Capital Employed [ROCE] (2016 - 2026) Analysis & Trends
For FY2024, Return on Capital Employed [ROCE] at Azul came in at 80.23%, up 40.94 percentage points from FY2023.
- Return on Capital Employed [ROCE] shows a five-year change of +91.25 percentage points (FY2019 to FY2024).
- In earlier years, Return on Capital Employed [ROCE] was 39.30% in FY2023 (-8.05 pp), 47.35% in FY2022 (+46.41 pp), 0.94% in FY2021 (+15.07 pp) and -14.13% in FY2020 (-3.11 pp).
- The Q2 2026 figure marks the lowest quarterly Return on Capital Employed [ROCE] since Q2 2023.
- Compared with a year earlier, Return on Capital Employed [ROCE] was higher in three of the last seven quarters, with an average year-over-year change of -20.31 percentage points.
- The best year-over-year quarter for Return on Capital Employed [ROCE] over five years was Q1 2023 (a gain of 205.45 percentage points); the worst was Q2 2026 (a drop of 176.43 percentage points).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 172.47 Bn | 164.72 Bn | - | 15.93% |
| 2 | United Parcel Service | 92.24 Bn | 69.07 Bn | - | 11.55% |
| 3 | Csx | 90.81 Bn | 86.03 Bn | - | 13.38% |
| 4 | Canadian Pacific Kansas City | 81.61 Bn | 80.64 Bn | - | 7.22% |
| 5 | Fedex | 72.98 Bn | 39.17 Bn | - | 7.01% |
| 6 | Norfolk Southern | 71.87 Bn | 66.34 Bn | - | 9.77% |
| 7 | Delta Air Lines | 57.23 Bn | 39.41 Bn | - | 10.05% |
| 8 | United Airlines Holdings | 36.65 Bn | -21.05 Bn | - | 8.46% |
| 9 | Old Dominion Freight Line | 34.12 Bn | 32.96 Bn | - | 29.43% |
| 10 | Azul | 3.54 Bn | 2.57 Bn | - | 41.30% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 41.30% |
| Mar 31, 2026 | 57.59% |
| Sep 30, 2025 | 62.07% |
| Jun 30, 2025 | 217.73% |
| Mar 31, 2025 | 112.86% |
| Dec 31, 2024 | 132.22% |
| Sep 30, 2024 | 134.15% |
| Jun 30, 2024 | 105.79% |
| Mar 31, 2024 | 77.57% |
| Dec 31, 2023 | 141.67% |
| Sep 30, 2023 | 110.31% |
| Jun 30, 2023 | 25.18% |
| Mar 31, 2023 | 232.88% |
| Dec 31, 2022 | 98.96% |
| Sep 30, 2022 | 38.85% |
| Jun 30, 2022 | 37.99% |
| Mar 31, 2022 | 27.43% |
| Dec 31, 2021 | 23.18% |
| Sep 30, 2021 | -2.57% |
| Jun 30, 2021 | -35.57% |
API Access
Azul Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=AZUL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=AZUL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();