Banco Bradesco SA
BBDO Financial Services Banks Regional
Banco Bradesco SA’s revenue for fiscal 2025 (year ended December 2025) was $55.4 billion, up 18.8% from fiscal 2024. In the quarter to June 2026, revenue grew 32.3%, EPS grew 30.0%, free cash flow fell 267.0% and total debt rose 442.3%, each against the same quarter a year earlier.
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Banco Bradesco SA (BBDO) Piotroski F-score
Banco Bradesco SA's Piotroski F-score for fiscal 2025 is 4 out of 9: 4 of nine tests of profitability, leverage and efficiency passed, down from 8 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 4 | (4.00) |
| FY2024 | 8 | 6.00 |
| FY2023 | 2 | (3.00) |
| FY2022 | 5 | (1.00) |
| FY2021 | 6 | 1.00 |
| FY2020 | 5 | 0.00 |
| FY2019 | 5 | 0.00 |
| FY2018 | 5 | (1.00) |
| FY2017 | 6 | (1.00) |
| FY2016 | 7 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 1.06% | 0.83% | Pass | 1 |
| Positive operating cash flow | (11.20b) | 9.31b | Fail | 0 |
| Rising return on assets | 1.06% | 0.83% | Pass | 1 |
| Cash flow above net income | (15.44b) | 6.11b | Fail | 0 |
| Falling long-term leverage | 0.08 | 0.05 | Fail | 0 |
| Rising current ratio | 1.14 | 1.25 | Fail | 0 |
| No new shares issued | 10,578,880,000 | 10,614,140,000 | Pass | 1 |
| Rising gross margin | 37.37% | 42.68% | Fail | 0 |
| Rising asset turnover | 0.14 | 0.12 | Pass | 1 |
| Piotroski F-score | Mixed | 4 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| BAP Credicorp Ltd. compare | 8 |
| RF Regions Financial Corporation compare | 8 |
| SHG Shinhan Financial Group Co Ltd compare | 8 |
| CFG Citizens Financial Group, Inc. compare | 7 |
| MTB M&T Bank Corporation compare | 7 |
| HBAN Huntington Bancshares Incorporated compare | 7 |
| FCNCA First Citizens BancShares, Inc. compare | 6 |
| BBD Banco Bradesco SA compare | 4 |
| BBDO Banco Bradesco SA | 4 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover