Mission Statement, Vision, & Core Values of Afya Limited (AFYA)

A company's Mission, Vision, and Core Values aren't just HR boilerplate; they are the bedrock that allows a firm like Afya Limited to project a full-year 2025 Net Revenue guidance of up to R$3,770 million, a clear sign of strategic execution. You're looking at a business that grew its 9-month Adjusted EBITDA to R$1,291.7 million by September 30, 2025, but what is the actual, defintely non-negotiable principle driving that 18.5% growth? Can a focus on empowering over 300 thousand users in their ecosystem truly translate into that kind of financial resilience, and how does their long-term vision map to your investment strategy?

We'll break down the core philosophy-from their mission to become the reference in medical education to the values guiding their digital health solutions-to see if the culture aligns with the cash flow.

Afya Limited (AFYA) Overview

You need a clear picture of Afya Limited's foundation and current operational scale before diving into the financials. Afya Limited is Brazil's leading medical education group, offering a full-career ecosystem for physicians, which is defintely a key differentiator in the market.

The company's roots trace back to the founding of NRE Educacional in Brazil in 1999, which provided the foundational network for the current corporate structure. Today, Afya Limited operates across three primary segments, creating a comprehensive, end-to-end platform for medical professionals:

• Undergraduate: Accredited medical degrees and other health science programs.
• Continuing Education: Specialization programs, graduate courses, and residency preparatory courses.
• Digital Services/Medical Practice Solutions: Clinical decision support (like Afya Whitebook) and practice management software (like iClinic).

This integrated approach is paying off in a big way. As of the end of the third quarter of 2025, the Afya ecosystem serves approximately 304 thousand users, a massive network effect in the Brazilian healthcare sector. The most recent nine-month (9M) sales, covering the period up to September 30, 2025, stood at a significant R$2,784.3 million (Brazilian Reais). That's a lot of tuition and subscription revenue.

Financial Performance: Q3 and 9M 2025 Highlights

The numbers from the latest reporting period, which ended September 30, 2025, clearly show Afya Limited is not just growing, but accelerating. Total revenue for the first nine months of 2025 (9M 2025) reached R$2,784.3 million, marking a strong 13.4% increase year-over-year (YoY). For the third quarter (Q3) alone, revenue was R$928.5 million, up 10.4% YoY.

Here's the quick math on profitability: Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for 9M 2025 grew even faster, hitting R$1,291.7 million, an impressive 18.5% increase YoY. This expanded the Adjusted EBITDA Margin by 200 basis points to a robust 46.4% for the nine-month period. Strong margins mean disciplined cost management alongside growth.

The revenue drivers tell the real story of the company's core business strength:

• Undergraduate revenue grew from higher tuition tickets in Medicine courses and the maturation of existing medical school seats.
• Continuing Education saw expansion in Graduate Journey students, boosting the average ticket per student.
• Digital Health Services grew primarily from an expansion in Clinical Management active payers.

Net income for the nine months was R$593.0 million, a solid 19.9% increase over the prior year, demonstrating that the top-line growth is flowing directly to the bottom line.

Afya Limited's Market Leadership and Outlook

Afya Limited maintains a dominant position in Brazil's private medical education market, largely due to its strategic focus on the highly regulated and in-demand field of Medicine. The company has been consistently expanding its capacity, with a cumulative total of 3,753 approved medical seats across its institutions as of November 2025, reinforcing its status as a prominent entity. The company is not just an education provider; it's a full-service partner for a physician's entire career.

Management has reaffirmed its full-year 2025 revenue guidance, projecting a range between R$3,670 million and R$3,770 million. This guidance, coupled with a solid cash position of nearly R$996.8 million as of Q3 2025, suggests a strong finish to the year and a healthy foundation for future acquisitions and organic growth. The blend of high-margin education and scalable digital services is a powerful business model.

If you want to understand the investor sentiment and who is betting on this continued success, I recommend you check out Exploring Afya Limited (AFYA) Investor Profile: Who's Buying and Why?. You'll see exactly why this integrated ecosystem makes Afya Limited a standout in the sector.

Afya Limited (AFYA) Mission Statement

You're looking for the bedrock of Afya Limited's strategy, and honestly, it's all about the long game in healthcare. The mission isn't just a poster on the wall; it's the operating manual for an entire ecosystem. Afya Limited's core mission is to provide an integrated, physician-centric ecosystem of education and medical practice solutions that supports healthcare professionals throughout their entire career journey, ultimately improving health outcomes in Brazil.

This mission is the lens through which we view their financial performance. For the 2025 fiscal year, the company is guiding for Net Revenue between R$3,670 million and R$3,770 million, showing how this mission drives real economic growth. It's a clear commitment that guides strategic decisions, from acquisitions to curriculum development. You can dive deeper into the company's background and financial structure here: Afya Limited (AFYA): History, Ownership, Mission, How It Works & Makes Money.

Component 1: Focus on People (Students, Employees, and Physicians)

A mission is only as good as its impact on the ground, and Afya Limited starts with its people-the students, the staff, and the practicing physicians. This component prioritizes the human element in a high-stakes industry, which is defintely smart. It's about serving the entire medical community, not just the initial student body.

The numbers show this commitment is expansive. By the end of the third quarter of 2025, Afya's integrated ecosystem reached approximately 304 thousand users, spanning undergraduate students, continuing education participants, and medical practice solution users. Here's the quick math: that's a massive network, and it means their focus isn't siloed.

• Prioritize student success and well-being.
• Support physician development and lifelong learning.
• Cultivate a high-performance, empathetic work culture.

Afya Limited places a strategic emphasis on training physicians in underserved regions, too. About 70 percent of their graduates subsequently practice medicine within those communities, directly addressing Brazil's significant physician distribution challenge. That's a concrete social outcome tied to a core value.

Component 2: Educational Excellence and Quality

The second pillar is Educational Excellence, which translates directly into a commitment to high-quality medical training and continuing education. In a field like medicine, quality isn't negotiable, so this is a critical component. They don't just enroll students; they aim to produce top-tier doctors.

The external validation is strong here. Afya Limited reports that 90% of its undergraduate medical courses score 4 or 5 in the Ministry of Education (MEC) evaluation, which is the key regulator in Brazil. That's a powerful quality metric, far from an abstraction. Plus, their operational efficiency is equally impressive; their integrated medical schools achieved a 100 percent occupancy rate in the first quarter of 2025. You can't argue with full classrooms and top regulatory scores.

This commitment to excellence also extends to infrastructure. For example, one of their simulation centers received the Seal of Accreditation from the Society for Simulation in Health (SSH), putting its teaching practices on par with major international institutions. It's about investing in the tools that ensure a superior learning experience.

Component 3: Innovation and Digital Health Services

The final core component is Innovation, driving advancements in health education and digital health services. This is where Afya Limited maps near-term risks-like the need for continuous professional development-to clear action by building a robust digital arm.

Their digital platforms are a key differentiator. They offer solutions like clinical decision support and clinical management tools, which are vital for practicing physicians. The goal is to integrate technology not just for learning, but for actual medical practice. The company is even highlighting strategic initiatives like AI-enabled enhancements in its Q3 2025 results, showing a forward-looking approach to product development. This isn't just EdTech; it's HealthTech.

In the first half of 2025, Afya's Medical Practice Solutions segment, which includes these digital tools, generated over R$160 million in revenue, demonstrating that innovation isn't just a buzzword-it's a profitable business line. The digital platform is the fastest-growing component of their business, which is a clear opportunity for future expansion and margin improvement.

Afya Limited (AFYA) Vision Statement

You're looking for a clear map of Afya Limited's (AFYA) long-term strategy, and honestly, it's all in their vision: building an integrated, physician-centric ecosystem. The direct takeaway is that Afya is not just an education company; they are a lifelong professional partner for Brazilian doctors, and their 2025 numbers show this model is working, with full-year revenue guidance between R$3,670 million and R$3,770 million.

This vision is the engine driving their financial performance, giving them a strong competitive moat against traditional universities. It's a smart strategy because it locks in a customer for a 30-year career, not just a six-year degree.

Premier Lifelong Learning Partner in Brazil

Afya's core vision is to be the premier lifelong learning partner for physicians. This means capturing the student at the undergraduate level and keeping them engaged through residency, specialization, and practice. For the first nine months of 2025, this ecosystem served approximately 304 thousand users, a massive base that generates recurring revenue beyond tuition. This isn't just about volume; it's about high-margin continuity.

The company's strategy for achieving this involves aggressive, targeted expansion of medical school seats. For instance, the May 2025 purchase of Funic added 60 seats in Belo Horizonte, a concrete example of consolidating their market leadership. This constant expansion, fueled by strong operational cash conversion, is the bedrock of their financial health. Here's the quick math: high-demand medical seats mean high utilization and pricing power, which translates directly to their impressive 9M 2025 Adjusted EBITDA of R$1,291.7 million.

Integrating Medical Education with Digital Health Solutions

The second pillar is the seamless integration of their educational programs with digital health solutions. This is where Afya truly differentiates itself. They don't just teach medicine; they provide the tools for practicing it. This dual focus is a defintely smart way to cross-sell and boost margins.

The digital segment, which includes platforms like WhiteBook, Nursebook, and Portal PEBMED, offers clinical decision support and practice management software. This isn't a side project; it's a strategic revenue driver. The launch of strategic initiatives like AI-enabled enhancements in 2025 further bolsters this digital ecosystem, increasing the value proposition for practicing physicians. This focus on innovation and operational efficiency is why their Adjusted EBITDA Margin hit a robust 46.4% for the first nine months of 2025. That's a high margin for an education-centric business, and it shows the power of the digital overlay. You can read more about how this model works in Afya Limited (AFYA): History, Ownership, Mission, How It Works & Makes Money.

Creating a Comprehensive Ecosystem

The final, and most critical, part of their vision is the creation of a comprehensive ecosystem. This is the whole being greater than the sum of its parts. By controlling the entire value chain-from the undergraduate student to the seasoned professional-Afya minimizes churn risk and maximizes customer lifetime value (CLV).

This ecosystem approach is a clear risk mitigator in the volatile Brazilian market. While macroeconomic factors and regulatory shifts remain near-term risks, the diversified revenue streams from undergraduate, continuing education, and digital services provide a buffer. For the nine months ending September 30, 2025, Afya reported Net Income of R$593.0 million, a 19.9% year-over-year increase, demonstrating that the ecosystem is generating real, accelerated profit. What this estimate hides, however, is the potential impact of new Mais Médicos program bids, which could award over 1,000+ new seats and further accelerate their undergraduate growth. This is a high-stakes opportunity that directly maps to their ecosystem vision.

• Maximize student lifetime value.
• Diversify revenue across the physician's career.
• Use digital tools to boost high-margin services.

Finance: Track the Q4 2025 earnings call for an update on the Mais Médicos program seat awards, as this will directly impact 2026 revenue projections.

Afya Limited (AFYA) Core Values

You're looking past the income statement to understand what truly drives Afya Limited's long-term value, and that means examining the core values-the principles that guide their strategy and capital allocation. Afya's approach is built on three key pillars: a relentless focus on educational quality and innovation, a deep commitment to social responsibility, and a disciplined financial realism.

This isn't just corporate boilerplate; these values map directly to their performance, like the 18.5% year-over-year increase in Adjusted EBITDA to R$1,291.7 million for the first nine months of 2025, which shows operational efficiency is a core principle, defintely.

Excellence and Innovation in Medical Education

Afya's primary value is maintaining the highest standard of medical education, which they achieve through an end-to-end physician-centric ecosystem. This commitment to quality is what allows them to charge a premium and sustain their high-margin business model in Brazil.

Here's the quick math on their quality commitment:

• 90% of Afya's undergraduate medical courses hold a top score of 4 or 5 in the Brazilian Ministry of Education (MEC) evaluation, which is a crucial quality indicator.
• They are aggressively integrating technology, with AI-enabled enhancements to their Medical Practice Solutions like Afya Whitebook, iClinic, and ReceitaPro, supporting evidence-based decision-making at the point of care.
• The ecosystem now serves a massive user base of approximately 304 thousand users, showing their platform-based approach to lifelong learning is scaling rapidly.

This focus on innovation directly supports their mission to become the reference in medical and healthcare education, empowering students to transform their ambitions into rewarding lifelong learning experiences.

Social Responsibility and Compassion (ESG Commitment)

For a company training the next generation of doctors, compassion is a foundational value, not an optional extra. Afya formalizes this through a strong Environmental, Social, and Governance (ESG) commitment, aligning their business with global health priorities.

Their actions in 2025 show this commitment is more than just talk:

• Afya launched Instituto Afya in 2025, an initiative aligned with the UN 2030 Agenda, specifically targeting chronic disease challenges in Brazil through AI-powered education and research.
• They are a signatory to the UN Global Compact in Brazil since 2020, with a priority on Sustainable Development Goal (SDG) number 3, which is Health and Well-being.
• The company's social impact is substantial, operating in regions across Brazil that often have underserved populations, which reflects their goal of helping people and their communities.

This dedication to social impact strengthens their brand and competitive advantage in a sector where public trust is paramount. You can dive deeper into the ownership structure and market perception in Exploring Afya Limited (AFYA) Investor Profile: Who's Buying and Why?

Disciplined Capital Allocation and Financial Prudence

A core value for any successful company is financial discipline, which Afya demonstrates through strategic capital allocation-a principle that ensures sustainable growth and resilience. They are a trend-aware realist, mapping near-term risks to clear actions.

The 2025 fiscal year saw decisive balance sheet moves:

• Afya repurchased all 150,000 Series A perpetual convertible preferred shares from SoftBank for R$831.6 million.
• They fully repaid R$500 million related to an earlier debenture issuance, significantly optimizing their debt structure.
• This disciplined approach helped them achieve an impressive Adjusted EBITDA Margin of 46.4% for the nine months ended September 30, 2025, which is among the highest in their peer group.

These actions signal management's confidence in their ability to generate strong cash flows, with an operating cash conversion ratio of 101.5% in 9M25, allowing them to reinvest in high-growth areas like AI and medical education expansion.