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There’s ample proof that stakeholder behavior is linked to the degree to which people trust and like a company. The Trust & Like Score is, therefore, the chief element we use to measure the strength of a company’s brand and reputation.
The rankings presented here are derived from Caliber’s real-time tracking study, which assesses the public perceptions of some of the largest companies in Brazil daily.
The study incorporates 25,230 responses, representing a diverse sample of the Brazilian population.
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Caliber’s stakeholder intelligence platform tracks, in real time, public perceptions of the 40 largest and most visible companies in Brazil. We selected these companies based on their turnover, headcount, historical presence in Brazil, and general public familiarity.
| Rank ⇅ | Company ⇅ | TLS 2023 ⇅ | TLS 2024 ⇅ | +/- ⇅ |
|---|---|---|---|---|
| 1 | Natura | 89 | 91 | ▲ +2 |
| 2 | RENNER | 81 | 84 | ▲ +3 |
| 3 | Rede D´Or | 82 | 83 | ▲ +1 |
| 4 | C&A | n/a | 82 | n/a |
| 5 | Magalu | 83 | 82 | ▼ -1 |
| 6 | Porto Seguro | 79 | 81 | ▲ +2 |
| 7 | B3 – Brazil Stock Exchange* | 78 | 80 | ▲ +2 |
| 8 | WEG* | 80 | 80 | — 0 |
| 9 | Grendene | n/a | 80 | n/a |
| 10 | Arezzo | 82 | 80 | ▼ -2 |
| 11 | Itaú | 79 | 80 | ▲ +1 |
| 12 | Via* | 79 | 79 | — 0 |
| 13 | Klabin | 75 | 79 | ▲ +4 |
| 14 | BRF | 74 | 79 | ▲ +5 |
| 15 | Banco do Brasil | 80 | 79 | ▼ -1 |
| 16 | ENGIE* | 80 | 78 | ▼ -2 |
| 17 | Raízen* | 77 | 78 | ▲ +1 |
| 18 | COPEL | 83 | 78 | ▼ -5 |
| 19 | Fleury | 80 | 78 | ▼ -2 |
| 20 | Suzano | 77 | 78 | ▲ +1 |
| 21 | AZUL Airlines | 80 | 78 | ▼ -2 |
| 22 | Cielo | 76 | 78 | ▲ +2 |
| 23 | AMBEV | 80 | 78 | ▼ -2 |
| 24 | Marfrig* | 77 | 77 | — 0 |
| 25 | CPFL Energia | 78 | 77 | ▼ -1 |
| 26 | AES Brasil* | n/a | 76 | n/a |
| 27 | Cosan* | 79 | 76 | ▼ -3 |
| 28 | Santander | 76 | 76 | — 0 |
| 29 | Vivo | 76 | 76 | — 0 |
| 30 | Cemig | 76 | 76 | — 0 |
| 31 | Vibra* | 80 | 75 | ▼ -5 |
| 32 | Ecorodovias | 77 | 75 | ▼ -2 |
| 33 | Banco PAN | n/a | 75 | n/a |
| 34 | Bradesco | 76 | 75 | ▼ -1 |
| 35 | BTG Pactual | 73 | 73 | — 0 |
| 36 | COPASA | n/a | 73 | n/a |
| 37 | Eletrobras | 71 | 73 | ▲ +2 |
| 38 | CCR | 78 | 72 | ▼ -6 |
| 39 | Equatorial* | n/a | 68 | n/a |
| 40 | TIM | 71 | 67 | ▼ -4 |
*Companies marked with an asterisk had a familiarity rate below 15% among the general public. Their scores are still shown in the ranking but may reflect a smaller, more specialist respondent base rather than broad public opinion.
The Trust & Like Score (TLS) is Caliber’s core measure of stakeholder confidence. It combines two questions:
Trust: “Is this a company I trust?”
Likeability: “Is this a company I like?”
Together, these measures indicate which companies stakeholders are most likely to support and recommend—and which are better positioned to withstand scrutiny.
The TLS ranking is updated annually and is based on continuous measurement throughout the year, making it a stable benchmark rather than a one-off survey snapshot.
The ranking is the starting point. With Caliber, you can pinpoint what is driving trust and sentiment by:
stakeholder segment (customers, employees, investors, public)
topic drivers (leadership, ESG, products, governance, innovation)
time period (before/after key events)
competitive benchmarking across Brazil and other markets
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