Banco Santander (Brasil) S.A. (SANB4.SA)

Banco Santander (Brasil) S.A. (SANB4.SA) — VMCI valuation read

Banco Santander (Brasil) S.A. (SANB4.SA) carries a VMCI composite of 55/100, 5 points above the Financial Services sector median of 50. Among mid-cap names, that gap places SANB4.SA in the top third on the five-pillar weighting (Value 35%, Quality 30%, Integrity 15%, Growth 12%, Risk 8%).

The SANB4.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 SANB4.SA trades at 16.0x earnings, 11% below the Financial Services median of 18.0x, which compresses or extends through the 11.0x EV/EBITDA versus a Financial Services 12.0x. Quality: ROIC of 18.0% sits 8.0pp above the Financial Services median (10.0%). Risk: net debt to EBITDA of 1.1x leaves covenant headroom, the line to track on Banco Santander (Brasil) S.A.'s next 10-Q.

SANB4.SA fell 2.2% over the trailing 7 days, with a +3.6% read on a 30-day basis.