Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Brazilian (BOVESPA) Utilities Sector Analysis

UpdatedAug 14, 2026
DataAggregated Company Financials
Companies34
  • 7D-5.5%
  • 3M-8.8%
  • 1Y9.5%
  • YTD-5.8%

Over the last 7 days, the Utilities industry has dropped 5.7%, driven by declines in Companhia de Saneamento Básico do Estado de São Paulo - SABESP and AXIA Energia of 11% and 6.5%, respectively. This takes the industry's 12 month performance to a gain of 11%. As for the next few years, earnings are expected to grow by 14% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 14 Aug 2026R$705.2bR$533.4bR$63.4b10.2x11.1x1.3x
Sun, 12 Jul 2026R$787.9bR$527.5bR$59.4b10.8x13.3x1.5x
Tue, 09 Jun 2026R$740.5bR$527.2bR$59.1b10.5x12.5x1.4x
Thu, 07 May 2026R$856.6bR$556.0bR$60.0b10.1x14.3x1.5x
Sat, 04 Apr 2026R$841.0bR$552.4bR$59.7b10x14.1x1.5x
Mon, 02 Mar 2026R$834.6bR$545.5bR$49.7b9.1x16.8x1.5x
Wed, 28 Jan 2026R$796.1bR$544.8bR$49.6b9.3x16x1.5x
Fri, 26 Dec 2025R$735.3bR$544.8bR$49.6b8.9x14.8x1.3x
Sun, 23 Nov 2025R$756.2bR$551.3bR$49.6b9.4x15.2x1.4x
Tue, 21 Oct 2025R$709.6bR$543.5bR$70.6b8.6x10x1.3x
Thu, 18 Sep 2025R$675.8bR$538.5bR$70.1b8.3x9.6x1.3x
Sat, 16 Aug 2025R$638.8bR$535.2bR$70.5b8.5x9.1x1.2x
Mon, 14 Jul 2025R$612.9bR$520.3bR$73.3b8.2x8.4x1.2x
Wed, 11 Jun 2025R$651.1bR$525.4bR$73.9b8.7x8.8x1.2x
Fri, 09 May 2025R$627.7bR$513.2bR$72.2b8.1x8.7x1.2x
Sun, 06 Apr 2025R$566.7bR$504.4bR$73.0b7.6x7.8x1.1x
Tue, 04 Mar 2025R$559.2bR$494.2bR$71.1b8.1x7.9x1.1x
Thu, 30 Jan 2025R$542.1bR$474.8bR$69.1b8.6x7.8x1.1x
Sat, 28 Dec 2024R$527.5bR$474.8bR$69.1b8.4x7.6x1.1x
Mon, 25 Nov 2024R$563.4bR$474.6bR$69.1b8.7x8.2x1.2x
Wed, 23 Oct 2024R$597.9bR$470.7bR$57.1b8.6x10.5x1.3x
Fri, 20 Sep 2024R$612.5bR$470.6bR$57.0b8.3x10.7x1.3x
Sun, 18 Aug 2024R$614.3bR$474.7bR$59.2b8.1x10.4x1.3x
Tue, 16 Jul 2024R$581.7bR$463.1bR$55.9b7.9x10.4x1.3x
Thu, 13 Jun 2024R$550.6bR$463.4bR$56.4b7.7x9.8x1.2x
Sat, 11 May 2024R$578.9bR$469.4bR$56.4b8.5x10.3x1.2x
Mon, 08 Apr 2024R$602.1bR$465.6bR$54.7b9.7x11x1.3x
Wed, 06 Mar 2024R$586.6bR$440.2bR$44.4b9.8x13.2x1.3x
Fri, 02 Feb 2024R$622.5bR$468.3bR$47.0b12.1x13.3x1.3x
Sun, 31 Dec 2023R$635.8bR$468.3bR$47.0b12.9x13.5x1.4x
Tue, 28 Nov 2023R$605.4bR$468.3bR$47.0b11.8x12.9x1.3x
Thu, 26 Oct 2023R$552.5bR$458.7bR$45.4b10.7x12.2x1.2x
Sat, 23 Sep 2023R$579.3bR$458.7bR$45.4b11.3x12.8x1.3x
Mon, 21 Aug 2023R$571.7bR$457.9bR$43.9b10.9x13x1.2x
Price to Earnings Ratio

13x


Total Market Cap: R$571.7bTotal Earnings: R$43.9bTotal Revenue: R$457.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Utilities Sector Price to Earnings3Y Average 11.3x202420252026
Current Industry PE
  • Investors are relatively neutral on the Brazilian Utilities industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 11.3x.
  • The industry is trading close to its 3-year average PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 13% per year over the last three years.
  • Revenues for these companies have grown 5.2% 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 Market-3.22%
Utilities-5.50%
Gas Utilities0%0
Electric Utilities-4.84%
Renewable Energy-5.78%
Water Utilities-9.37%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry, which is trading close to its 3-year average PE ratio of 24.8x.
    • Analysts are expecting annual earnings growth of 25.1%, which is lower than the prior year's growth of 98.8% per year.
  • Investors are most pessimistic about the Electric Utilities industry, which is trading close to its 3-year average of 10.6x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 25% over the next 5 years.
  • However this is lower than its past earnings growth rate of 99% per year.
  • In contrast, the Electric 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
EQMA3B Equatorial Maranhão Distribuidora de EnergiaR$29.492.2%
+R$103.4m		8.8%PE5.5x
AFLT3 Afluente Transmissão de Energia ElétricaR$7.242.0%
+R$8.8m		-2.2%PE12.8x
LIGT3 LightR$3.120.6%
+R$7.5m		-48.9%PE0.4x

Latest News

EQMA3B
R$29.49
Equatorial Maranhão Distribuidora de Energia
7D
2.2%
1Y
8.8%
ENEV3
R$24.34
Eneva
7D
-7.0%
1Y
72.9%
EGIE3
R$28.29
Engie Brasil Energia
7D
-4.8%
1Y
0.7%
Analysis Article • Aug 12

Engie Brasil Energia's (BVMF:EGIE3) Earnings Are Of Questionable Quality

Engie Brasil Energia S.A. ( BVMF:EGIE3 ) announced strong profits, but the stock was stagnant. Our analysis suggests...
AXIA3
R$49.69
AXIA Energia
7D
-6.3%
1Y
12.3%
Narrative Update • Aug 12

AXIA3: Preferred Share Redemption In 2026 Will Drive Future Upside Potential

Analysts have lifted the AXIA Energia price target from R$68.51 to about R$70.15, reflecting updated assumptions for fair value, discount rate, revenue, profit margins and future P/E estimates. What's in the News for AXIA Energia The Board of Directors approved the redemption of 37,237,014 Class C Preferred Shares (PNC) for BRL 2,000 million at BRL 53.71 per share, with an alternative for holders to convert PNC into common shares on a 1 to 1 basis in August 2026.
CSMG3
R$56.20
Companhia de Saneamento de Minas Gerais
7D
-9.3%
1Y
110.3%
CPLE3
R$13.80
Companhia Paranaense de Energia - COPEL
7D
-5.9%
1Y
22.2%
Analysis Article • Aug 09

Results: Companhia Paranaense de Energia - COPEL Exceeded Expectations And The Consensus Has Updated Its Estimates

Companhia Paranaense de Energia - COPEL ( BVMF:CPLE3 ) just released its second-quarter report and things are looking...
SBSP3
R$24.28
Companhia de Saneamento Básico do Estado de São Paulo - SABESP
7D
-9.7%
1Y
7.5%
Narrative Update • Jul 29

SBSP3: Share Merger Plans And Mixed Fundamentals Will Shape Fair Outlook

Analysts have raised their fair value estimate for Companhia de Saneamento Básico do Estado de São Paulo SABESP from R$26.10 to R$27.05, reflecting updated assumptions for slightly weaker revenue growth and profit margin, along with a higher expected future P/E multiple. What's in the News Companhia de Saneamento Básico do Estado de São Paulo SABESP has called a Special and Extraordinary Shareholders Meeting for Jul 30, 2026 at 14:00 Coordinated Universal Time.
AFLT3
R$7.24
Afluente Transmissão de Energia Elétrica
7D
2.0%
1Y
-2.2%
Analysis Article • Jul 28

We Think Afluente Transmissão de Energia Elétrica's (BVMF:AFLT3) Solid Earnings Are Understated

Shareholders appeared to be happy with Afluente Transmissão de Energia Elétrica S.A.'s ( BVMF:AFLT3 ) solid earnings...
CPFE3
R$43.23
CPFL Energia
7D
-3.5%
1Y
9.5%
Narrative Update • Jul 21

CPFE3: Higher Margin Outlook Will Support Stronger Forward Earnings Power

Analysts have raised their fair value estimate for CPFL Energia from R$54.59 to R$58.70, citing revised assumptions for revenue growth, profit margins, the discount rate, and the forward P/E multiple. Analyst Commentary Bullish analysts view the higher fair value estimate for CPFL Energia as a reflection of improved confidence in the company’s ability to support its valuation through the updated revenue, margin, discount rate, and forward P/E assumptions.
LIGT3
R$3.12
Light
7D
0.6%
1Y
-48.9%
Narrative Update • Jul 10

LIGT3: Higher Future P/E Assumption Will Support Improved Earnings Outlook

Analysts have trimmed their R$ fair value estimate for Light to R$5.50 from R$6.30 as they adjust expectations for slightly better revenue trends, a much lower projected profit margin, and a higher future P/E assumption. What’s in the News for Light No recent Light specific news items were provided in the primary news feed.
EQTL3
R$34.82
Equatorial
7D
-6.6%
1Y
-3.0%
Narrative Update • Jun 17

EQTL3: 2026 Meeting Will Support Steady Outlook And Bullish View

Analysts kept their fair value estimate for Equatorial steady at R$50.67 while making only small adjustments to the discount rate, revenue growth, profit margin, and future P/E assumptions. These changes resulted in no material change to the overall price target narrative.