Fleury S.A. (FLRY3.SA)

Fleury S.A. (FLRY3.SA) — VMCI valuation read

Fleury S.A. (FLRY3.SA) carries a VMCI composite of 59/100, 9 points above the Healthcare sector median of 50. Among mid-cap names, that gap places FLRY3.SA in the top third on the five-pillar weighting (Value 35%, Quality 30%, Integrity 15%, Growth 12%, Risk 8%).

The FLRY3.SA insider tape has been silent for the past 30 days on Form 4. Where executives neither buy nor sell, the bull and bear cases lean harder on filings cadence and the next earnings line.

**Investor frame.** Value reads FLRY3.SA trades at 16.0x earnings, 11% below the Healthcare median of 18.0x, which compresses or extends through the 11.0x EV/EBITDA versus a Healthcare 12.0x. Quality: ROIC of 14.0% sits 4.0pp above the Healthcare median (10.0%). Risk: net debt to EBITDA of 3.2x is the binding constraint on the bear case, the line to track on Fleury S.A.'s next 10-Q.

FLRY3.SA rose 1.0% over the trailing 7 days, with a -19.2% read on a 30-day basis.