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Brazilian (BOVESPA) Utilities Sector Analysis

UpdatedMay 26, 2026
DataAggregated Company Financials
Companies34
  • 7D1.3%
  • 3M-6.8%
  • 1Y18.6%
  • YTD4.0%

In the last week, the Utilities industry is up 1.3%, with Companhia de Saneamento Básico do Estado de São Paulo - SABESP leading the way, up 2.0%. This means that the industry has gained 19% over the past year. Looking forward, earnings are forecast to grow by 14% annually.

Sector Valuation and Performance

Has the Brazilian Utilities Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 26 May 2026R$760.1bR$527.1bR$59.1b11x12.9x1.4x
Thu, 23 Apr 2026R$884.2bR$552.3bR$59.7b10.8x14.8x1.6x
Sat, 21 Mar 2026R$802.8bR$550.3bR$63.4b9.3x12.7x1.5x
Mon, 16 Feb 2026R$819.9bR$545.1bR$50.2b8.8x16.3x1.5x
Wed, 14 Jan 2026R$755.9bR$544.8bR$49.6b9x15.2x1.4x
Fri, 12 Dec 2025R$754.2bR$544.8bR$49.6b8.9x15.2x1.4x
Sun, 09 Nov 2025R$746.0bR$548.8bR$57.3b8.5x13x1.4x
Tue, 07 Oct 2025R$676.8bR$538.5bR$70.1b8.2x9.7x1.3x
Thu, 04 Sep 2025R$642.0bR$538.5bR$70.0b8.3x9.2x1.2x
Sat, 02 Aug 2025R$605.8bR$522.6bR$74.2b7.9x8.2x1.2x
Mon, 30 Jun 2025R$649.8bR$525.4bR$73.9b8.7x8.8x1.2x
Wed, 28 May 2025R$666.5bR$525.4bR$73.9b8.9x9x1.3x
Fri, 25 Apr 2025R$623.0bR$509.7bR$73.4b8.2x8.5x1.2x
Sun, 23 Mar 2025R$570.6bR$501.9bR$70.6b7.6x8.1x1.1x
Tue, 18 Feb 2025R$567.7bR$474.8bR$69.1b8.7x8.2x1.2x
Thu, 16 Jan 2025R$519.6bR$474.8bR$69.1b8.5x7.5x1.1x
Sat, 14 Dec 2024R$543.9bR$474.8bR$69.1b8.6x7.9x1.1x
Mon, 11 Nov 2024R$494.0bR$435.8bR$57.2b9x8.6x1.1x
Wed, 09 Oct 2024R$595.8bR$470.6bR$57.0b8.5x10.5x1.3x
Fri, 06 Sep 2024R$624.4bR$470.6bR$57.0b8.4x11x1.3x
Sun, 04 Aug 2024R$588.9bR$469.9bR$56.3b7.9x10.5x1.3x
Tue, 02 Jul 2024R$556.9bR$463.1bR$55.9b7.9x10x1.2x
Thu, 30 May 2024R$558.6bR$463.1bR$55.9b8x10x1.2x
Sat, 27 Apr 2024R$583.4bR$466.2bR$54.6b9x10.7x1.3x
Mon, 25 Mar 2024R$586.4bR$446.3bR$48.3b9.2x12.2x1.3x
Wed, 21 Feb 2024R$577.7bR$434.9bR$43.9b9.1x13.2x1.3x
Fri, 19 Jan 2024R$617.7bR$468.3bR$47.0b12.1x13.2x1.3x
Sun, 17 Dec 2023R$619.4bR$468.3bR$47.0b12.2x13.2x1.3x
Tue, 14 Nov 2023R$590.7bR$465.9bR$47.4b12.6x12.5x1.3x
Thu, 12 Oct 2023R$570.3bR$458.7bR$45.4b11x12.6x1.2x
Sat, 09 Sep 2023R$563.2bR$458.7bR$45.4b10.9x12.4x1.2x
Mon, 07 Aug 2023R$575.0bR$452.0bR$40.2b12.2x14.3x1.3x
Wed, 05 Jul 2023R$590.0bR$451.3bR$42.2b10.1x14x1.3x
Fri, 02 Jun 2023R$546.1bR$449.7bR$42.5b10x12.9x1.2x
Price to Earnings Ratio

12.9x


Total Market Cap: R$546.1bTotal Earnings: R$42.5bTotal Revenue: R$449.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Utilities Sector Price to Earnings3Y Average 11.3x202420252026
Current Industry PE
  • Investors are optimistic on the Brazilian Utilities industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 12.9x which is higher than its 3-year average PE of 11.3x.
  • The 3-year average PS ratio of 1.3x is lower than the industry's current PS ratio of 1.4x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 12% per year over the last three years.
  • Revenues for these companies have grown 5.4% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Brazilian Utilities sector?

BR Market1.93%
Utilities1.27%
Renewable Energy3.18%
Water Utilities1.76%
Electric Utilities0.66%
Gas Utilities0%0
Industry PE
  • Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio of 22.5x.
    • Analysts are expecting annual earnings growth of 31.8%, which is lower than the prior year's growth of 71.1% per year.
  • Investors are most pessimistic about the Electric Utilities industry, which is trading close to its 3-year average of 10.8x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 32% over the next 5 years.
  • However this is lower than its past earnings growth rate of 71% per year.
  • In contrast, the Electric Utilities industry is expected to see its earnings grow by 10% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
SBSP3 Companhia de Saneamento Básico do Estado de São Paulo - SABESPR$29.102.0%
+R$2.0b		26.2%PE11.7x
ENEV3 EnevaR$25.224.2%
+R$1.9b		76.5%PE37.3x
PASS3 Compass Gas e EnergiaR$27.265.8%
+R$1.1b		n/aPE15.8x
EGIE3 Engie Brasil EnergiaR$32.582.5%
+R$925.3m		9.0%PE14.5x
EQTL3 EquatorialR$38.501.8%
+R$854.9m		3.7%PE40.8x

Latest News

EGIE3
R$32.58
Engie Brasil Energia
7D
2.5%
1Y
9.0%
Narrative Update • May 24

EGIE3: Higher P/E And Upbeat Research Will Shape Balanced Risk Reward

Analysts have raised their price target on Engie Brasil Energia to around R$34 from about R$32, citing updated assumptions on fair value, discount rate, revenue trends and future P/E, alongside recent upbeat research. Analyst Commentary Bullish Takeaways Bullish analysts see the revised fair value assumptions as supportive of the new R$34 price target, suggesting the stock’s valuation is more in line with their updated revenue and P/E inputs.
EQPA3
R$6.10
Equatorial Pará Distribuidora de Energia
7D
4.8%
1Y
3.7%
Analysis Article • May 24

Equatorial Pará Distribuidora de Energia's (BVMF:EQPA3) Weak Earnings May Only Reveal A Part Of The Whole Picture

Last week's earnings announcement from Equatorial Pará Distribuidora de Energia S.A. ( BVMF:EQPA3 ) was disappointing...
LIGT3
R$2.70
Light
7D
-35.4%
1Y
-59.6%
GEPA3
R$35.22
Rio Paranapanema Energia
7D
-7.3%
1Y
7.3%
Analysis Article • May 23

Rio Paranapanema Energia's (BVMF:GEPA3) Weak Earnings May Only Reveal A Part Of The Whole Picture

A lackluster earnings announcement from Rio Paranapanema Energia S.A. ( BVMF:GEPA3 ) last week didn't sink the stock...
CPFE3
R$43.30
CPFL Energia
7D
-1.0%
1Y
5.0%
Narrative Update • May 22

CPFE3: Higher Margins And Discount Rate Assumptions Will Support Upside Potential

Analysts have lifted their fair value estimate for CPFL Energia from R$47.84 to R$50.71, citing updated assumptions around discount rates, revenue trends, profit margins, and future P/E levels. Analyst Commentary Recent research on CPFL Energia reflects a mix of optimism and caution around how current assumptions feed into the higher fair value estimate.
EQTL3
R$38.50
Equatorial
7D
1.8%
1Y
3.7%
Analysis Article • May 21

There May Be Some Bright Spots In Equatorial's (BVMF:EQTL3) Earnings

Investors were disappointed with the weak earnings posted by Equatorial S.A. ( BVMF:EQTL3 ). Despite the soft profit...
PASS3
R$27.26
Compass Gas e Energia
7D
5.8%
1Y
n/a
EQMA3B
R$30.99
Equatorial Maranhão Distribuidora de Energia
7D
-0.03%
1Y
24.0%
RNEW3
R$0.92
Renova Energia
7D
-8.0%
1Y
-46.5%
REDE3
R$5.83
Rede Energia Participações
7D
-4.4%
1Y
-12.3%
Analysis Article • May 18

Rede Energia Participações' (BVMF:REDE3) Shareholders Have More To Worry About Than Only Soft Earnings

The subdued market reaction suggests that Rede Energia Participações S.A.'s ( BVMF:REDE3 ) recent earnings didn't...
ENEV3
R$25.22
Eneva
7D
4.2%
1Y
76.5%
Narrative Update • May 15

ENEV3: Improved Margins And P E Reset Will Support Bullish Outlook

Analysts have lifted Eneva's fair value estimate from R$28.02 to R$29.26, citing updated assumptions for a smaller revenue decline, a slightly lower discount rate, a higher profit margin, and a lower future P/E multiple. Valuation Changes Fair Value: R$29.26, up from R$28.02, reflecting the combined impact of the updated assumptions.
TAEE11
R$39.51
Transmissora Aliança de Energia Elétrica
7D
3.8%
1Y
8.2%
SBSP3
R$29.10
Companhia de Saneamento Básico do Estado de São Paulo - SABESP
7D
2.0%
1Y
26.2%
CPLE3
R$14.87
Companhia Paranaense de Energia - COPEL
7D
1.2%
1Y
27.2%
Analysis Article • May 07

Analysts Have Just Cut Their Companhia Paranaense de Energia - COPEL (BVMF:CPLE3) Revenue Estimates By 2.9%

Today is shaping up negative for Companhia Paranaense de Energia - COPEL ( BVMF:CPLE3 ) shareholders, with the analysts...