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Price · 6M
$10.40
Thesis
StoneCo is a Brazilian SMB-focused payment processor and software company that grew rapidly in the late 2010s, then suffered a severe credit-book blow-up in 2021 and has been in turnaround mode since. The franchise still has a large installed merchant base and recurring payment economics, but earnings power has not returned to its earlier trajectory.
The investment case is a deep-value / re-rating story rather than structural compounding: if Stone can normalize credit performance, monetize the Linx software cross-sell, and avoid further capital allocation missteps, the multiple has room to expand. Berkshire-style patience required; this is not a quality compounder.
Catalysts
- Active payment-client growth and take-rate stability
- Credit book quality after multi-year reset
- Linx software attach rates and revenue
- Capital return and balance-sheet repair progress
Recent events
Material filings, federal awards, and regulatory activity from the last 30 days. Impact is scored against market cap.