COSAN S.A.
boothcheck covers COSAN S.A. (CSAN) but does not put one priced-in number on it: here the defensible answer is the evidence rather than a point estimate. boothcheck publishes no house fair value, target price, or buy/sell rating. Narrative composed July 25, 2026.
• Cosan is a holding company rather than an operator: its value is the residual claim on a set of separately listed Brazilian businesses, the largest of which the annual filing describes as ⟦Raízen is the world's largest sugarcane producer and processor⟧. • The finance bill, not the harvest, is the binding constraint here: operating profit covers the interest bill roughly one turn over, and the group's debentures ⟦contain a contractual leverage covenant limited to 3.0 x⟧ under a waiver that runs
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73 institutional managers reported holding CSAN in 13F filings for the quarter ended 2026-03-31. Together they hold about 1% of the company; the top 10 hold 1%. 16 opened new positions that quarter. Held by Renaissance Technologies, Marshall Wace, Morgan Stanley, among others. On the short side, 4.0M shares were sold short as of the 2026-06-15 count, about 0.2% of shares outstanding (1.4 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
CSAN's share count grew 1.9% over the past five years. It pays a dividend. Cash returned over the past three years: $1.05B in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at CSAN over the trailing three years: 2026: 1 buy totaling $23.82M. 5 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.