Cosan S.A. CSAN

Competitive advantage analysis · energy

Corporate Default
Overall moat score
57/100
Moderate

Ranked against 18 peers in Oil & Gas Refining & Marketing

About Cosan S.A.

Cosan S.A. engages in the fuel distribution business. It operates through Raízen, Compass, Moove, Rumo, and Radar segments. The company's Raízen segment engages in the production, commercialization, origination, and trading of sugar, as well as ethanol under the Shell brand; production and commercialization of bioenergy; trading and resale of electricity; and distribution and commercialization of fuels and lubricants. Its Compass … Full CSAN analysis →

Key strengths

  • Scale Supporting Profitability Profitability at scale is strong (score 1.00), demonstrating competitive advantages.
  • Margins Consistently Above Peers Gross margin at 32.6% (top 0%) and operating margin at 26.5% (top 0%) indicate strong pricing power.

Key risks

  • Elevated Debt Risk Debt serviceability is weak (score 0.21), raising refinancing risk.
  • Revenue Volatility Signals Weak Stickiness Revenue volatility is high (stability score 0.35), suggesting weak customer stickiness.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Moderate
52
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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Cost Advantage

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Signals, strengths and risks for Customer Stickiness

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Signals, strengths and risks for Capital Efficiency

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Signals, strengths and risks for Resilience

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Signals, strengths and risks for Scale & Market Position

Where CSAN ranks in Oil & Gas Refining & Marketing

Cosan S.A. ranks #8 of 19 scored companies in Oil & Gas Refining & Marketing by moat score — the top 42%. The widest moat in the group is Star Group L.P. (SGU) at 81/100.

# Company Moat score Rating
4 Delek Logistics Partners, L.P. DKL 62/100 Moderate
5 Sunoco LP SUN 61/100 Moderate
6 CrossAmerica Partners LP CAPL 60/100 Moderate
7 Marathon Petroleum Corporation MPC 58/100 Moderate
8 Cosan S.A. CSAN 57/100 Moderate
9 Phillips 66 PSX 55/100 Moderate
10 Valero Energy Corporation VLO 53/100 Moderate
11 HF Sinclair Corporation DINO 50/100 Moderate
12 Delek US Holdings, Inc. DK 44/100 Developing

See every Commodities & Mining company ranked by moat score →

How CSAN scores on the Corporate Default defenses

Pricing Power

Score 52 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 59 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 65 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 18 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 58 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 100 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding CSAN's moat

What is Cosan S.A.'s moat score?

Cosan S.A. (CSAN) scores 57 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #8 of 19 scored companies in Oil & Gas Refining & Marketing, the top 42%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 18 companies in Oil & Gas Refining & Marketing. Its strongest defense is Scale & Market Position (100/100) and its weakest is Capital Efficiency (18/100).

How does Cosan S.A. compare with other Oil & Gas Refining & Marketing companies?

Cosan S.A. ranks #8 of 19 scored companies in Oil & Gas Refining & Marketing by moat score. The widest moat in Oil & Gas Refining & Marketing is Star Group L.P. (SGU) at 81/100. The companies ranked closest are Marathon Petroleum Corporation (MPC) at 58 just above it and Phillips 66 (PSX) at 55 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 18 companies in Oil & Gas Refining & Marketing. The defenses are then weighted to produce the overall score out of 100.

Why is Cosan S.A. scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for Cosan S.A.?

The Corporate Default template measures 6 defenses, and CSAN scores: Pricing Power (52), Cost Advantage (59), Customer Stickiness (65), Capital Efficiency (18), Resilience (58), Scale & Market Position (100). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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