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B3 Showed What It Can Produce When Brazil Wakes Up

B3 delivered a standout 1Q26, with equities revenues surging 47% YoY and strong derivatives performance amid heightened market volatility. BOLSY's diversified business model—spanning equities, derivatives, fixed income, and data—demonstrates resilience and operating leverage, with recurring EBITDA margin reaching 71.6%. Despite trading at ~14x earnings, BOLSY remains attractive given its monopoly-like position, high…

Seeking Alpha • May 24, 2026

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