New growth cycle
Expanding with capital discipline, without sacrificing profitability.
Value creation is a strategic choice.
Strategic and financial management anchored in economic value, capital and governance, for shareholders, boards and leadership teams.
01Where is the capital deployed?
02What return does it generate?
03Does that return consistently exceed its cost?
About us
Creates value
We guide decisions that strengthen performance today and sustain growth over the long term.
Technical independence
An impartial view, in the service of shareholders.
Analytical rigor
Economic, measurable decisions.
Fiduciary responsibility
Commitment to long-term value.
Altoris acts as a strategic partner in building companies, advising shareholders, leadership teams and boards on sound strategy and disciplined capital allocation.
With an integrated view of the business, we connect strategy, capital and execution to build organizations that are more efficient, more resilient and able to generate real economic value over time.
We do not just deliver reports. We take part in decisions: on the board, in management, and at the helm of companies at critical moments.
Our approach
Value is the result of sound decisions, repeated over time.
Our model is flexible on the paths to growth, but non-negotiable on the central criterion: capital must earn an adequate return.
Disciplined growth
Growth alone is not enough. Growth must be efficient, within the company’s capacity to self-fund and the soundness of its capital structure.
Consistent returns
When the return generated falls below the cost of capital, value is destroyed, even when accounting growth is reported.
Economic value creation
Without a return above the cost of capital, there is no value creation for shareholders.
The economic profit yardstick
Illustrative simulationEconomic profit = (Return on capital − Cost of capital) × Invested capital
Annual economic profit
R$1.8 million
A company can grow, report an accounting profit and still destroy value when its return falls below the cost of capital.
Corporate video
Decisions that create value.
Two minutes on how Altoris thinks about capital, return and governance.
Solutions
We cover the full chain of decisions that drive the value of a company.
From growth thesis to governance, every workstream answers to the same criterion: a return above the cost of capital.
01
02
03
04
05
Strategy and Economic Intelligence
Growth thesis, scenario analysis, and economic and sector insight.
Value ThermometerCorporate Finance
Capital structure and cost of capital, corporate budgeting and valuation.
V.A.L.O.R. ProgramTurnaround and Restructuring
Operational and financial restructuring, divestitures and crisis management.
TurnaroundMergers, Acquisitions and Private Equity
From investment thesis to integration and exit readiness.
See the caseGovernance, Boards and Compensation
Aligning executives, the board and shareholders around value creation.
Transitions and governanceWhen we step in
At the moments that shape a company’s next decade.
These are the moments when shareholders and boards decide what to preserve, what to transform and where the greatest value potential lies.
Leadership transitions
Leadership, targets and incentives aligned with what creates value, with confidence for the board.
Investments, mergers and acquisitions
Preparing the company to be valued, invested in or integrated.
Crisis and restructuring
Restoring cash, credibility and the capacity to create value.
Governance and capital discipline
Tools for the board to monitor performance and correct course.
V.A.L.O.R. Program
Every decision pulling in the same direction.
The problem is rarely the strategy. It is the gap between the strategy and day-to-day decisions.
V.A.L.O.R. turns economic profit into a permanent management system, in which strategy, budgeting, investment, governance and compensation answer to the same criterion.
Hover over or select each letter to see the pillar.
Vision
Strategic Vision and Economic Diagnosis
A reading of performance and of the quality of the return on capital: where the company creates value and where it consumes it.
The problems it solves, the implementation and the platform.valor.altoris.com.br
Explore the full program
Results
Results for those who entrusted Altoris with their most critical decisions.
+80%
in retail sales, with an integrated acquisition
60%
reduction in debt, starting from a business at a standstill
+150%
swing in results: losses turned into profit within 12 months
+20%
on a company’s sale price, versus the initial valuation
Our team
Value is built by people.
Altoris brings together professionals with a proven track record in strategy, corporate finance, restructuring and governance. Each workstream is led by specialists who have sat on the decision-making side: on boards, in executive management and at the helm of companies at critical moments.
Executive experience
Professionals who have held decision-making roles in companies, boards and committees, and understand the reality of being accountable for results.
Experience at critical moments
Restructurings, transitions and growth cycles led in practice, including through interim management.
Solid technical grounding
Academic background in management, finance, economics and accounting, with continuous professional development.
Institutional presence
Seats on boards and strategic committees, executive education programs, and business and finance forums.
On every engagement: direct partner involvement, a dedicated technical team and continuous accountability.
Meet the teamResearch and publications
Economic intelligence for decision-makers.
Technical studies and articles on return, cost of capital, risk and restructuring, written for boards, shareholders and executives.
The capital inflection
When the capital window closes, a company no longer chooses the terms on which it is financed. What to test, protect and select before that happens.
Read the study · 21 min
Record tax burden and the pressure on value creation
Projects that look viable are already destroying value. How to tell whether yours is one of them.
Read the study · 4 min
Value creation in Brazilian companies
Only 14% of listed companies sustain returns above 15%. What separates those that create value from those that merely grow.
Read the study · 6 min
New · free e-book· In Portuguese
Free download