Narrative Update • Jun 17
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Brazilian (BOVESPA) Utilities Sector Analysis
UpdatedJun 24, 2026
DataAggregated Company Financials
Companies34
- 7D2.7%
- 3M-4.0%
- 1Y22.7%
- YTD2.5%
The Utilities is pretty flat in the last 7 days, but Companhia de Saneamento de Minas Gerais has stood out, gaining 5.6%. The past year has been better, since the industry has gained 20% in that time. Looking forward, earnings are forecast to grow by 15% annually.
Sector Valuation and Performance
Has the Brazilian Utilities Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 24 Jun 2026 | R$757.8b | R$527.5b | R$59.4b | 10.4x | 12.8x | 1.4x |
| Fri, 22 May 2026 | R$758.4b | R$527.1b | R$59.1b | 11.1x | 12.8x | 1.4x |
| Sun, 19 Apr 2026 | R$888.4b | R$552.3b | R$59.7b | 10.9x | 14.9x | 1.6x |
| Tue, 17 Mar 2026 | R$800.9b | R$546.9b | R$62.3b | 9.7x | 12.9x | 1.5x |
| Thu, 12 Feb 2026 | R$816.5b | R$544.8b | R$49.6b | 9x | 16.5x | 1.5x |
| Sat, 10 Jan 2026 | R$760.5b | R$544.8b | R$49.6b | 8.9x | 15.3x | 1.4x |
| Mon, 08 Dec 2025 | R$755.0b | R$544.8b | R$49.6b | 9.1x | 15.2x | 1.4x |
| Wed, 05 Nov 2025 | R$731.9b | R$547.1b | R$70.1b | 8.8x | 10.4x | 1.3x |
| Fri, 03 Oct 2025 | R$679.9b | R$538.5b | R$70.1b | 8.4x | 9.7x | 1.3x |
| Sun, 31 Aug 2025 | R$651.2b | R$538.5b | R$70.0b | 8.4x | 9.3x | 1.2x |
| Tue, 29 Jul 2025 | R$599.5b | R$522.2b | R$74.5b | 8x | 8x | 1.1x |
| Thu, 26 Jun 2025 | R$644.5b | R$525.4b | R$73.9b | 8.5x | 8.7x | 1.2x |
| Sat, 24 May 2025 | R$654.0b | R$525.4b | R$73.9b | 8.8x | 8.9x | 1.2x |
| Mon, 21 Apr 2025 | R$602.1b | R$509.7b | R$73.4b | 7.9x | 8.2x | 1.2x |
| Wed, 19 Mar 2025 | R$567.9b | R$496.5b | R$71.2b | 7.8x | 8x | 1.1x |
| Fri, 14 Feb 2025 | R$550.3b | R$474.8b | R$69.1b | 8.6x | 8x | 1.2x |
| Sun, 12 Jan 2025 | R$519.5b | R$474.8b | R$69.1b | 8.2x | 7.5x | 1.1x |
| Tue, 10 Dec 2024 | R$549.0b | R$474.8b | R$69.1b | 8.5x | 7.9x | 1.2x |
| Thu, 07 Nov 2024 | R$524.8b | R$444.7b | R$53.9b | 8.8x | 9.7x | 1.2x |
| Sat, 05 Oct 2024 | R$592.7b | R$470.6b | R$57.0b | 8.6x | 10.4x | 1.3x |
| Mon, 02 Sep 2024 | R$612.5b | R$470.6b | R$57.0b | 8.4x | 10.7x | 1.3x |
| Wed, 31 Jul 2024 | R$585.1b | R$469.4b | R$56.5b | 8x | 10.4x | 1.2x |
| Fri, 28 Jun 2024 | R$545.4b | R$463.1b | R$55.9b | 7.9x | 9.8x | 1.2x |
| Sun, 26 May 2024 | R$563.0b | R$463.1b | R$55.9b | 8.2x | 10.1x | 1.2x |
| Tue, 23 Apr 2024 | R$587.7b | R$465.6b | R$54.7b | 9x | 10.7x | 1.3x |
| Thu, 21 Mar 2024 | R$579.9b | R$444.6b | R$47.0b | 9.2x | 12.3x | 1.3x |
| Sat, 17 Feb 2024 | R$569.6b | R$434.9b | R$43.9b | 9x | 13x | 1.3x |
| Mon, 15 Jan 2024 | R$633.5b | R$468.3b | R$47.0b | 12.4x | 13.5x | 1.4x |
| Wed, 13 Dec 2023 | R$608.6b | R$468.3b | R$47.0b | 12.2x | 13x | 1.3x |
| Fri, 10 Nov 2023 | R$576.1b | R$459.4b | R$45.0b | 11.8x | 12.8x | 1.3x |
| Sun, 08 Oct 2023 | R$557.8b | R$458.7b | R$45.4b | 10.8x | 12.3x | 1.2x |
| Tue, 05 Sep 2023 | R$574.4b | R$458.7b | R$45.4b | 11.1x | 12.6x | 1.3x |
| Thu, 03 Aug 2023 | R$586.0b | R$451.9b | R$40.3b | 10.1x | 14.5x | 1.3x |
| Sat, 01 Jul 2023 | R$593.2b | R$451.3b | R$42.2b | 10.2x | 14.1x | 1.3x |
Price to Earnings Ratio
14.1x
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 12.6x 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 5.3% 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 | 1.51% | |
| Utilities | 2.74% | |
| Renewable Energy | 3.28% | |
| Water Utilities | 3.02% | |
| Electric Utilities | 2.87% | |
| Gas Utilities | 0% | 0 |
Industry PE
- Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio of 23.3x.
- Analysts are expecting annual earnings growth of 30.9%, 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 10.7x.
Forecasted Growth
- Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 31% 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 12% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| AXIA3 AXIA Energia | R$54.22 | 3.5% +R$5.2b | 36.4% | PE16.1x | |
| SBSP3 Companhia de Saneamento Básico do Estado de São Paulo - SABESP | R$28.16 | 2.5% +R$2.5b | 27.7% | PE11.3x | |
| ENEV3 Eneva | R$25.20 | 4.7% +R$2.1b | 82.6% | PE37.3x | |
| CPLE3 Companhia Paranaense de Energia - COPEL | R$14.99 | 4.8% +R$2.0b | 29.6% | PE16.5x | |
| EQPA3 Equatorial Pará Distribuidora de Energia | R$6.45 | 11.4% +R$1.5b | 14.2% | PE9.2x |
