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Brazilian (BOVESPA) Utilities Sector Analysis

UpdatedAug 30, 2026
DataAggregated Company Financials
Companies34
  • 7D3.3%
  • 3M-3.8%
  • 1Y11.4%
  • YTD-2.2%

Over the last 7 days, the Utilities industry has risen 3.3%, driven by gains from Companhia de Saneamento Básico do Estado de São Paulo - SABESP of 6.3%. 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 15% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 30 Aug 2026R$733.3bR$537.6bR$61.1b10.5x12x1.4x
Tue, 28 Jul 2026R$756.0bR$527.9bR$58.9b10.4x12.8x1.4x
Thu, 25 Jun 2026R$758.3bR$527.5bR$59.4b10.3x12.8x1.4x
Sat, 23 May 2026R$752.5bR$527.1bR$59.1b11.1x12.7x1.4x
Mon, 20 Apr 2026R$888.4bR$552.3bR$59.7b10.9x14.9x1.6x
Wed, 18 Mar 2026R$808.2bR$546.9bR$62.3b9.8x13x1.5x
Fri, 13 Feb 2026R$825.4bR$544.8bR$49.6b8.9x16.6x1.5x
Sun, 11 Jan 2026R$766.1bR$544.8bR$49.6b8.9x15.4x1.4x
Tue, 09 Dec 2025R$755.0bR$544.8bR$49.6b9.1x15.2x1.4x
Thu, 06 Nov 2025R$735.8bR$547.1bR$70.1b8.9x10.5x1.3x
Sat, 04 Oct 2025R$680.5bR$538.5bR$70.1b8.4x9.7x1.3x
Mon, 01 Sep 2025R$651.2bR$538.5bR$70.0b8.4x9.3x1.2x
Wed, 30 Jul 2025R$602.8bR$522.2bR$74.5b8x8.1x1.2x
Fri, 27 Jun 2025R$649.1bR$525.4bR$73.9b8.7x8.8x1.2x
Sun, 25 May 2025R$654.0bR$525.4bR$73.9b8.8x8.9x1.2x
Tue, 22 Apr 2025R$602.1bR$509.7bR$73.4b7.9x8.2x1.2x
Thu, 20 Mar 2025R$575.3bR$496.5bR$71.2b7.9x8.1x1.2x
Sat, 15 Feb 2025R$554.7bR$474.8bR$69.1b8.6x8x1.2x
Mon, 13 Jan 2025R$519.5bR$474.8bR$69.1b8.2x7.5x1.1x
Wed, 11 Dec 2024R$546.8bR$474.8bR$69.1b8.6x7.9x1.2x
Fri, 08 Nov 2024R$520.9bR$444.7bR$53.9b8.8x9.7x1.2x
Sun, 06 Oct 2024R$592.7bR$470.6bR$57.0b8.6x10.4x1.3x
Tue, 03 Sep 2024R$612.0bR$470.6bR$57.0b8.4x10.7x1.3x
Thu, 01 Aug 2024R$588.6bR$469.4bR$56.5b7.9x10.4x1.3x
Sat, 29 Jun 2024R$550.7bR$463.1bR$55.9b7.9x9.9x1.2x
Mon, 27 May 2024R$548.7bR$448.3bR$53.4b8.4x10.3x1.2x
Wed, 24 Apr 2024R$585.1bR$466.3bR$54.7b8.9x10.7x1.3x
Fri, 22 Mar 2024R$587.5bR$444.6bR$47.0b9.2x12.5x1.3x
Sun, 18 Feb 2024R$571.2bR$434.9bR$43.9b9x13x1.3x
Tue, 16 Jan 2024R$636.2bR$468.3bR$47.0b12.5x13.5x1.4x
Thu, 14 Dec 2023R$609.5bR$468.3bR$47.0b12.4x13x1.3x
Sat, 11 Nov 2023R$576.8bR$465.3bR$47.2b11.8x12.2x1.2x
Mon, 09 Oct 2023R$557.8bR$458.7bR$45.4b10.8x12.3x1.2x
Wed, 06 Sep 2023R$569.1bR$458.7bR$45.4b11.1x12.5x1.2x
Price to Earnings Ratio

12.5x


Total Market Cap: R$569.1bTotal Earnings: R$45.4bTotal Revenue: R$458.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Utilities Sector Price to Earnings3Y Average 11.2x202420252026
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 11.2x.
  • 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 10% 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 Market2.27%
Utilities3.35%
Water Utilities4.65%
Renewable Energy4.15%
Electric Utilities2.98%
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 25.1x.
    • Analysts are expecting annual earnings growth of 28.4%, which is lower than the prior year's growth of 31.6% per year.
  • Investors are most pessimistic about the Electric Utilities industry, which is trading close to its 3-year average of 10.5x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 28% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • 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$25.246.3%
+R$5.2b		6.3%PE11x
AXIA3 AXIA EnergiaR$53.102.4%
+R$3.6b		17.9%PE12.6x
CPFE3 CPFL EnergiaR$44.805.9%
+R$2.9b		13.8%PE8.6x
ENEV3 EnevaR$26.303.7%
+R$1.8b		74.1%PE52.3x
EGIE3 Engie Brasil EnergiaR$28.814.3%
+R$1.7b		1.0%PE10.3x

Latest News

GEPA3
R$33.59
Rio Paranapanema Energia
7D
-4.0%
1Y
-1.3%
AXIA3
R$53.10
AXIA Energia
7D
2.4%
1Y
17.9%
Narrative Update • Aug 26

AXIA3: Share Redemption And Mergers Will Support A Stronger Future

Analysts have raised the AXIA Energia price target from R$53.96 to R$63.30, citing updated assumptions for revenue growth, profit margins, and a higher forward P/E multiple. What’s in the News for AXIA Energia The Board of Directors approved the redemption of 37,237,014 Class C Preferred Shares (PNC), equivalent to R$2,000 million and 6.14% of that share class, at R$53.71 per PNC share.
ENEV3
R$26.30
Eneva
7D
3.7%
1Y
74.1%
Narrative Update • Aug 26

ENEV3: Improved Margin Outlook And Lower Discount Rate Will Support Upside

The analyst price target for Eneva has been revised from R$31.07 to R$31.73. Analysts cite updated assumptions on the discount rate, revenue growth, profit margins and future P/E as key drivers of the change.
CPFE3
R$44.80
CPFL Energia
7D
5.9%
1Y
13.8%
Narrative Update • Aug 25

CPFE3: Higher Required Returns Will Pressure Future P/E Multiple

Analysts now see CPFL Energia's fair value at R$40.00, slightly below the prior R$40.95. This reflects updated views on higher required returns, softer revenue expectations, a modestly stronger profit margin, and a lower future P/E.
EQTL3
R$36.75
Equatorial
7D
2.7%
1Y
0.5%
CPLE3
R$14.68
Companhia Paranaense de Energia - COPEL
7D
3.7%
1Y
31.1%
Narrative Update • Aug 22

CPLE3: Revised Earnings Assumptions And Event Pipeline Will Shape Balanced Upside

Analysts have raised their price target for Companhia Paranaense de Energia COPEL from R$14.40 to R$15.00, reflecting updated views on a slightly higher discount rate, a steeper revenue decline, a modestly softer profit margin, and a higher assumed future P/E multiple. What's in the News for Companhia Paranaense de Energia COPEL A board meeting for Companhia Paranaense de Energia COPEL is scheduled on 5 August 2026 at 11:30 Coordinated Universal Time to consider interim financial statements for the second quarter of 2026.
SAPR11
R$33.20
Companhia de Saneamento do Paraná - SANEPAR
7D
-0.09%
1Y
-3.7%
Analysis Article • Aug 17

The Companhia de Saneamento do Paraná - SANEPAR (BVMF:SAPR11) Second-Quarter Results Are Out And Analysts Have Published New Forecasts

Companhia de Saneamento do Paraná - SANEPAR ( BVMF:SAPR11 ) shareholders are probably feeling a little disappointed...
SBSP3
R$25.24
Companhia de Saneamento Básico do Estado de São Paulo - SABESP
7D
6.3%
1Y
6.3%
EGIE3
R$28.81
Engie Brasil Energia
7D
4.3%
1Y
1.0%
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...
ENGI11
R$47.37
Energisa
7D
5.8%
1Y
6.8%
AFLT3
R$7.32
Afluente Transmissão de Energia Elétrica
7D
-2.3%
1Y
1.5%
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...