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Brazilian (BOVESPA) Utilities Sector Analysis

UpdatedApr 02, 2026
DataAggregated Company Financials
Companies34
  • 7D2.8%
  • 3M12.8%
  • 1Y36.4%
  • YTD11.8%

Over the last 7 days, the Utilities industry has remained flat, although notably CPFL Energia gained 3.5%. The past year has been better, since the industry has gained 38% in that time. 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
Thu, 02 Apr 2026R$838.0bR$552.4bR$59.7b10.1x14x1.5x
Sat, 28 Feb 2026R$847.6bR$545.5bR$49.7b9.1x17.1x1.6x
Mon, 26 Jan 2026R$800.4bR$544.8bR$49.6b9.3x16.1x1.5x
Wed, 24 Dec 2025R$720.9bR$544.8bR$49.6b8.9x14.5x1.3x
Fri, 21 Nov 2025R$757.8bR$551.3bR$49.6b9.4x15.3x1.4x
Sun, 19 Oct 2025R$707.6bR$543.5bR$70.6b8.7x10x1.3x
Tue, 16 Sep 2025R$669.8bR$538.5bR$70.1b8.2x9.6x1.2x
Thu, 14 Aug 2025R$640.5bR$529.8bR$70.5b8.2x9.1x1.2x
Sat, 12 Jul 2025R$614.5bR$520.3bR$73.3b8.3x8.4x1.2x
Mon, 09 Jun 2025R$652.4bR$525.4bR$73.9b8.8x8.8x1.2x
Wed, 07 May 2025R$619.9bR$510.4bR$73.3b8x8.5x1.2x
Fri, 04 Apr 2025R$573.0bR$504.4bR$73.0b7.7x7.9x1.1x
Sun, 02 Mar 2025R$562.6bR$493.6bR$70.1b8.8x8x1.1x
Tue, 28 Jan 2025R$530.2bR$474.8bR$69.1b8.5x7.7x1.1x
Thu, 26 Dec 2024R$527.1bR$474.8bR$69.1b8.4x7.6x1.1x
Sat, 23 Nov 2024R$558.2bR$474.6bR$69.1b8.7x8.1x1.2x
Mon, 21 Oct 2024R$598.3bR$470.7bR$57.1b8.8x10.5x1.3x
Wed, 18 Sep 2024R$619.5bR$470.6bR$57.0b8.4x10.9x1.3x
Fri, 16 Aug 2024R$614.1bR$471.6bR$57.4b8x10.7x1.3x
Sun, 14 Jul 2024R$581.7bR$463.1bR$55.9b7.9x10.4x1.3x
Tue, 11 Jun 2024R$550.2bR$463.4bR$56.4b7.7x9.8x1.2x
Thu, 09 May 2024R$589.8bR$465.8bR$55.3b8.8x10.7x1.3x
Sat, 06 Apr 2024R$601.9bR$465.6bR$54.7b9.7x11x1.3x
Mon, 04 Mar 2024R$588.3bR$440.2bR$44.4b9.8x13.3x1.3x
Wed, 31 Jan 2024R$619.8bR$468.3bR$47.0b11.9x13.2x1.3x
Fri, 29 Dec 2023R$632.2bR$468.3bR$47.0b12.9x13.5x1.4x
Sun, 26 Nov 2023R$605.4bR$468.3bR$47.0b11.6x12.9x1.3x
Tue, 24 Oct 2023R$554.6bR$458.7bR$45.4b10.8x12.2x1.2x
Thu, 21 Sep 2023R$586.1bR$458.7bR$45.4b11.4x12.9x1.3x
Sat, 19 Aug 2023R$571.6bR$457.9bR$44.0b10.4x13x1.2x
Mon, 17 Jul 2023R$586.1bR$451.3bR$41.5b12.1x14.1x1.3x
Wed, 14 Jun 2023R$569.1bR$449.7bR$42.4b10.2x13.4x1.3x
Fri, 12 May 2023R$564.1bR$459.4bR$44.1b9.3x12.8x1.2x
Sun, 09 Apr 2023R$541.5bR$454.6bR$45.9b8.9x11.8x1.2x
Price to Earnings Ratio

11.8x


Total Market Cap: R$541.5bTotal Earnings: R$45.9bTotal Revenue: R$454.6bTotal 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 14.0x which is higher than its 3-year average PE of 11.2x.
  • The 3-year average PS ratio of 1.3x is lower than the industry's current PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 9.0% per year over the last three years.
  • Revenues for these companies have grown 7.4% 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 Market2.97%
Utilities2.78%
Electric Utilities3.01%
Water Utilities2.70%
Renewable Energy2.64%
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 21.3x.
    • Analysts are expecting annual earnings growth of 31.3%, which is lower than the prior year's growth of 119.2% 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 31% over the next 5 years.
  • However this is lower than its past earnings growth rate of 119% 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
SBSP3 Companhia de Saneamento Básico do Estado de São Paulo - SABESPR$156.132.2%
+R$2.3b		52.6%PE12.9x
CPFE3 CPFL EnergiaR$48.514.0%
+R$2.1b		27.3%PE10.2x
CPLE3 Companhia Paranaense de Energia - COPELR$15.834.3%
+R$1.9b		62.7%PE17.6x
EGIE3 Engie Brasil EnergiaR$32.883.8%
+R$1.4b		15.1%PE14.5x
ENGI11 EnergisaR$53.005.4%
+R$938.4m		38.2%PE8.3x

Latest News

ENEV3
R$24.99
Eneva
7D
1.8%
1Y
106.4%
SBSP3
R$156.13
Companhia de Saneamento Básico do Estado de São Paulo - SABESP
7D
2.2%
1Y
52.6%
CPFE3
R$48.51
CPFL Energia
7D
4.0%
1Y
27.3%
SAPR11
R$45.80
Companhia de Saneamento do Paraná - SANEPAR
7D
6.4%
1Y
61.3%
REDE3
R$6.21
Rede Energia Participações
7D
-1.1%
1Y
-6.2%
ENGI11
R$53.00
Energisa
7D
5.4%
1Y
38.2%
CBEE3
R$9.95
Ampla Energia e Serviços
7D
-0.3%
1Y
13.1%
EGIE3
R$32.88
Engie Brasil Energia
7D
3.8%
1Y
15.1%

EGIE3: Stable Margins And Slightly Higher Discount Rate Will Shape Firm Pricing

Analysts have very slightly trimmed their price target for Engie Brasil Energia from R$31.10 to R$31.03, reflecting updated assumptions around the discount rate, revenue growth and profit margin, while keeping future P/E expectations broadly in line. Valuation Changes Fair Value: R$31.10 to R$31.03, a very small downward adjustment in the modelled estimate.
EQTL3
R$40.61
Equatorial
7D
1.5%
1Y
21.8%

EQTL3: Higher Future P/E Assumptions Will Support Bullish Earnings Outlook

Analysts have slightly raised their price target for Equatorial to R$47.32 from R$47.25. They point to updated assumptions that now reflect a marginally higher discount rate, a softer revenue growth outlook, a lower profit margin and a higher future P/E multiple.
CPLE3
R$15.83
Companhia Paranaense de Energia - COPEL
7D
4.3%
1Y
62.7%

Hydro Capacity Expansion And Smart Grid Rollout Will Drive Long Term Earnings Resilience

Catalysts About Companhia Paranaense de Energia (COPEL) Companhia Paranaense de Energia (COPEL) is an integrated Brazilian electric utility that operates in power generation, transmission, distribution and trading. What are the underlying business or industry changes driving this perspective?
AFLT3
R$7.21
Afluente Transmissão de Energia Elétrica
7D
-1.2%
1Y
-3.7%
RNEW3
R$1.08
Renova Energia
7D
-4.4%
1Y
-44.3%