Dados B3 › What we do not fix · Português
Every data source has holes. The difference is who measures them. This page exists because a public comparison of Brazilian market data sources claimed that Dados B3 “keeps the history of closed and delisted companies” — the opposite of what we do. The error favoured us, which is the worst kind: anyone choosing us because of it would build a biased backtest believing it was clean.
The universe comes from the regulator's register with one filter: only companies whose status is ACTIVE. That is 455 companies. Outside them the register carries 1,904 non-active records, and 401 are Category A companies — those required to file full statements — that cancelled registration from 2010 onwards. The intersection between the two sets is 0: not one of them is in the base.
The ones that leave are not a random draw. Out go those acquired, those that went private, and those that failed — and it is the third that ruins a backtest, because the bad return is exactly what disappears. The six most recent, from the register itself:
| Company | Cancelled |
|---|---|
| T4F Entretenimento Sa | 2026-09-01 |
| Neogrid Participacões S.A. | 2026-07-14 |
| Massa Falida De Tecnosolo Engenharia Sa | 2026-06-10 |
| Blue Tech Solutions Eqi S.A. | 2026-06-10 |
| Tekno S.A. Indústria E Comércio | 2026-05-14 |
| Pet Center Comércio E Participações S.A. | 2026-05-14 |
| Year | Companies |
|---|---|
| 2026 | 15 |
| 2025 | 20 |
| 2024 | 20 |
| 2023 | 17 |
| 2022 | 22 |
| 2021 | 19 |
| 2020 | 11 |
| 2019 | 23 |
Fixing it would require the historical series of the cancelled companies, which the regulator does not publish in usable form: each year's file carries whoever was required to report that year, and rebuilding the eligible universe for every date is work we have not done. Measuring and publishing is what can be done honestly. Promising the rest would repeat the very error this page corrects.
The base holds the companies that are active today. A backtest run over 2015 with it is picking among the firms that made it to 2026 — information nobody had in 2015. That inflates returns, and inflates them more the longer the window.
There is no exit date, no final price, no return through the close. A company simply stops appearing. Anyone needing the return of a position up to the delisting will not find it here.
We do not know who was in the main index in 2013. Our sector index is built from the regulator's sector classification over the current universe: it compares sectors against each other, it does not reproduce an index portfolio.
That is when Brazilian accounting converged to IFRS. Before it the chart of accounts is a different one, and stitching the two eras together would produce a series continuous in appearance and incomparable in substance.
Numbers on this page are live. Data version 2026-09-01-supressao-declarada · page generated 2026-09-08 11:13 UTC. If this does not match /saude, you are reading a cached copy.
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