Agent-Driven Research

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Closing prices as of
28 AUG 2026
SHUL4
B3 LISTED
Industrials • Santa Catarina, Brazil
R$ 4.57
-4.59%
Reference Price • Change over 90 days
Research Synthesis
Consensus across all agents
BULLISH • 95%
The overall case is strongly positive because both perspectives point to the same conclusion: this appears to be a high-quality business with a long record of dependable profits, a conservative balance sheet, shareholder-friendly behavior, and an attractive purchase price. That combination matters because it reduces the need to rely on optimistic assumptions. You are not being asked to bet on a turnaround or a speculative story; you are buying into an established company that seems to have handled its operations and finances with discipline over many years. The biggest source of conviction is the consistency of the business. Repeated profitability, steady growth, and ongoing distributions to shareholders suggest the company has real staying power rather than temporary momentum. On top of that, the business appears financially sturdy, which gives it room to handle tougher conditions without putting shareholders in immediate danger. There is very little disagreement across the analyst views. Both emphasize business durability, prudent use of debt, and a meaningful gap between market price and estimated intrinsic value. The only modest note of caution is that even strong industrial businesses are still exposed to economic slowdowns, and a favorable valuation case depends on the business continuing to perform with similar discipline. If operating quality weakens or end-market demand softens materially, the thesis would become less compelling. Taken together, the evidence supports a decisive bullish view. This looks like the kind of investment where quality and valuation are aligned in the investor’s favor.
Strength

Business quality is high — durable profits, conservative finances, and a price that appears meaningfully below underlying value.

Caution

The thesis depends on the business maintaining its long record of steady performance through normal industrial and economic cycles.

Watch

Watch for continued earnings resilience, healthy margins, and balance-sheet discipline to confirm the business remains as strong as it looks.

Agent Conviction Scores

Financial Metrics

Revenue vs Net Income Trend
BRL thousands • 2014-2025
Revenue
Net Income
Balance Sheet Key Components
BRL thousands • 2014-2025
Fixed Assets
Other
Net Debt
Working Capital

Leverage & Efficiency Trends

Debt to Equity 0.0x
Excellent financial position
Operating Margin 17.0%
Consistently positive operating margin with low variability.
Return on Equity 2.4x
Return on equity has consistently exceeded the cost of capital, indicating value creation.
Return on Invested Capital 2.1x
Return on invested capital has consistently exceeded the cost of capital, indicating value creation.
Operating Margin Trend
% • 2014-2025

Ownership Structure & Distributions

Voting Ownership

Shareholder Voting %
Family Schulz 63.3%
Doriane Braatz 18.3%
Ovandi Rosenstock 18.3%
Free Float 0.1%

Payout History

DIVIDEND
R$ 0.526 / share
Dec 2025
DIVIDEND
R$ 0.388 / share
Dec 2024
DIVIDEND
R$ 0.188 / share
Dec 2023
DIVIDEND
R$ 0.174 / share
Dec 2022