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Brazilian (BOVESPA) Utilities Sector Analysis

UpdatedFeb 08, 2026
DataAggregated Company Financials
Companies34
  • 7D1.6%
  • 3M5.2%
  • 1Y41.9%
  • YTD6.4%

In the last week, the Utilities industry is up 1.6%, with Companhia de Saneamento Básico do Estado de São Paulo - SABESP up 1.9%. This means that the industry has gained 42% over the past year. Earnings are forecast to grow by 17% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 08 Feb 2026R$803.1bR$544.8bR$49.6b8.9x16.2x1.5x
Tue, 06 Jan 2026R$763.0bR$544.8bR$49.6b9x15.4x1.4x
Thu, 04 Dec 2025R$778.3bR$551.0bR$49.6b9.4x15.7x1.4x
Sat, 01 Nov 2025R$722.5bR$545.8bR$70.6b8.6x10.2x1.3x
Mon, 29 Sep 2025R$680.3bR$538.5bR$70.1b8.4x9.7x1.3x
Wed, 27 Aug 2025R$638.7bR$538.5bR$70.0b8.1x9.1x1.2x
Fri, 25 Jul 2025R$609.8bR$522.1bR$74.5b8.1x8.2x1.2x
Sun, 22 Jun 2025R$649.9bR$525.4bR$73.9b8.7x8.8x1.2x
Tue, 20 May 2025R$655.5bR$525.2bR$73.9b8.6x8.9x1.2x
Thu, 17 Apr 2025R$595.5bR$509.7bR$73.4b7.8x8.1x1.2x
Sat, 15 Mar 2025R$581.1bR$494.4bR$71.2b8.2x8.2x1.2x
Mon, 10 Feb 2025R$547.2bR$474.8bR$69.1b8.4x7.9x1.2x
Wed, 08 Jan 2025R$523.9bR$474.8bR$69.1b8.2x7.6x1.1x
Fri, 06 Dec 2024R$534.9bR$474.8bR$69.1b8.7x7.7x1.1x
Sun, 03 Nov 2024R$524.9bR$448.1bR$54.0b8.3x9.7x1.2x
Tue, 01 Oct 2024R$599.5bR$470.6bR$57.0b8.6x10.5x1.3x
Thu, 29 Aug 2024R$610.7bR$474.3bR$57.6b8.3x10.6x1.3x
Sat, 27 Jul 2024R$588.3bR$469.4bR$56.5b8.2x10.4x1.3x
Mon, 24 Jun 2024R$543.4bR$463.1bR$55.9b7.9x9.7x1.2x
Wed, 22 May 2024R$589.8bR$468.6bR$56.5b8.4x10.4x1.3x
Fri, 19 Apr 2024R$585.9bR$465.6bR$54.7b9x10.7x1.3x
Sun, 17 Mar 2024R$581.3bR$444.6bR$47.0b9.2x12.4x1.3x
Tue, 13 Feb 2024R$571.8bR$434.9bR$43.9b8.9x13x1.3x
Thu, 11 Jan 2024R$632.8bR$468.3bR$47.0b12.6x13.5x1.4x
Sat, 09 Dec 2023R$611.3bR$468.3bR$47.0b12x13x1.3x
Mon, 06 Nov 2023R$572.0bR$459.5bR$46.0b11.5x12.4x1.2x
Wed, 04 Oct 2023R$568.9bR$458.7bR$45.4b10.8x12.5x1.2x
Fri, 01 Sep 2023R$576.8bR$458.7bR$45.4b11x12.7x1.3x
Sun, 30 Jul 2023R$588.1bR$451.9bR$40.3b11.6x14.6x1.3x
Tue, 27 Jun 2023R$581.6bR$451.3bR$42.2b10.2x13.8x1.3x
Thu, 25 May 2023R$549.1bR$449.7bR$42.4b10.1x12.9x1.2x
Sat, 22 Apr 2023R$552.0bR$454.6bR$45.9b8.9x12x1.2x
Mon, 20 Mar 2023R$530.6bR$457.2bR$51.8b9.3x10.3x1.2x
Wed, 15 Feb 2023R$544.4bR$461.9bR$51.5b8.7x10.6x1.2x
Price to Earnings Ratio

10.6x


Total Market Cap: R$544.4bTotal Earnings: R$51.5bTotal Revenue: R$461.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Utilities Sector Price to Earnings3Y Average 11x202420252026
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 16.2x which is higher than its 3-year average PE of 11.0x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 5.7% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Industry Trends

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

BR Market0.53%
Utilities1.58%
Renewable Energy2.33%
Water Utilities1.99%
Electric Utilities1.44%
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 19.8x.
    • Analysts are expecting annual earnings growth of 29.9%, which is higher than its past year's earnings decline of 27.0% per year.
  • Investors are most pessimistic about the Water Utilities industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 10.0x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 30% over the next 5 years.
  • This is better than its past earnings decline of 27% per year.
  • In contrast, the Water Utilities industry is expected to see its earnings grow by 11% 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$143.851.9%
+R$1.9b		53.5%PE14x
ENEV3 EnevaR$21.893.6%
+R$1.5b		87.9%PE1232.1x
CSMG3 Companhia de Saneamento de Minas GeraisR$53.855.3%
+R$1.0b		131.5%PE15.1x
EGIE3 Engie Brasil EnergiaR$33.351.8%
+R$662.5m		29.9%PE12.6x
CPLE3 Companhia Paranaense de Energia - COPELR$13.401.7%
+R$653.3m		52.8%PE18.2x

Latest News

CSMG3
R$53.85
Companhia de Saneamento de Minas Gerais
7D
5.3%
1Y
131.5%
ENEV3
R$21.89
Eneva
7D
3.6%
1Y
87.9%

Eneva (BVMF:ENEV3) Takes On Some Risk With Its Use Of Debt

Feb 06
Eneva (BVMF:ENEV3) Takes On Some Risk With Its Use Of Debt
CBEE3
R$9.13
Ampla Energia e Serviços
7D
-8.7%
1Y
n/a
SAPR11
R$45.93
Companhia de Saneamento do Paraná - SANEPAR
7D
-1.6%
1Y
69.5%

Is Companhia de Saneamento do Paraná - SANEPAR (BVMF:SAPR11) A Risky Investment?

Feb 05
Is Companhia de Saneamento do Paraná - SANEPAR (BVMF:SAPR11) A Risky Investment?
CPFE3
R$49.31
CPFL Energia
7D
-4.2%
1Y
44.9%

Risks To Shareholder Returns Are Elevated At These Prices For CPFL Energia S.A. (BVMF:CPFE3)

Feb 04
Risks To Shareholder Returns Are Elevated At These Prices For CPFL Energia S.A. (BVMF:CPFE3)
TAEE11
R$41.51
Transmissora Aliança de Energia Elétrica
7D
-0.3%
1Y
25.9%

TAEE11: Ongoing Revenue Contraction Will Continue To Pressure Future Earnings Multiple

Analysts have nudged their price target higher for Transmissora Aliança de Energia Elétrica to R$37.53 from R$35.47, citing updated assumptions that include a slightly lower discount rate, modestly weaker revenue growth expectations, a higher profit margin projection near 50% and a marginally higher forward P/E estimate. What's in the News A special and extraordinary shareholders meeting is scheduled for December 15, 2025, at 13:00 Coordinated Universal Time, with an agenda focused on electing one member to the Board of Directors (Key Developments).
AURE3
R$11.40
Auren Energia
7D
1.2%
1Y
40.0%
SBSP3
R$143.85
Companhia de Saneamento Básico do Estado de São Paulo - SABESP
7D
1.9%
1Y
53.5%
EQMA3B
R$30.51
Equatorial Maranhão Distribuidora de Energia
7D
-1.2%
1Y
27.1%

Return Trends At Equatorial Maranhão Distribuidora de Energia (BVMF:EQMA3B) Aren't Appealing

Jan 28
Return Trends At Equatorial Maranhão Distribuidora de Energia (BVMF:EQMA3B) Aren't Appealing
CEEB3
R$45.95
Companhia de Eletricidade do Estado da Bahia - COELBA
7D
1.6%
1Y
22.0%

Here's Why Companhia de Eletricidade do Estado da Bahia - COELBA (BVMF:CEEB3) Is Weighed Down By Its Debt Load

Jan 27
Here's Why Companhia de Eletricidade do Estado da Bahia - COELBA (BVMF:CEEB3) Is Weighed Down By Its Debt Load
EGIE3
R$33.35
Engie Brasil Energia
7D
1.8%
1Y
29.9%

EGIE3: Higher Future P/E Will Sustain Cautious View On Rich Pricing

Analysts have nudged their price target on Engie Brasil Energia higher to R$29.32 from R$28.96, citing small adjustments to fair value estimates, the discount rate and future P/E assumptions as the main drivers of the change. What's in the News Engie Brasil Energia has scheduled a series of board meetings throughout 2026, including on February 25, June 3, August 6, November 10 and December 11.
EQPA3
R$6.17
Equatorial Pará Distribuidora de Energia
7D
-3.4%
1Y
11.6%

Equatorial Pará Distribuidora de Energia (BVMF:EQPA3) Is Looking To Continue Growing Its Returns On Capital

Jan 20
Equatorial Pará Distribuidora de Energia (BVMF:EQPA3) Is Looking To Continue Growing Its Returns On Capital
ENGI11
R$50.56
Energisa
7D
-0.9%
1Y
37.4%

Energisa S.A. (BVMF:ENGI11) Could Be Riskier Than It Looks

Jan 19
Energisa S.A. (BVMF:ENGI11) Could Be Riskier Than It Looks
CPLE3
R$13.40
Companhia Paranaense de Energia - COPEL
7D
1.7%
1Y
52.8%
REDE3
R$6.26
Rede Energia Participações
7D
1.3%
1Y
-1.9%
RIOS3
R$29.60
Rio Alto Energias Renováveis
7D
-5.7%
1Y
n/a