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Brazilian (BOVESPA) Utilities Sector Analysis

UpdatedAug 16, 2026
DataAggregated Company Financials
Companies34
  • 7D-6.2%
  • 3M-9.6%
  • 1Y8.5%
  • YTD-6.6%

Over the last 7 days, the Utilities industry has dropped 6.2%, driven by declines in Companhia de Saneamento Básico do Estado de São Paulo - SABESP and AXIA Energia of 12% and 6.1%, respectively. Over the past 12 months, the industry was up 8.5%. 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?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 16 Aug 2026R$699.5bR$536.6bR$62.3b10.2x11.2x1.3x
Tue, 14 Jul 2026R$770.8bR$527.5bR$59.4b10.7x13x1.5x
Thu, 11 Jun 2026R$740.7bR$527.2bR$59.1b10.6x12.5x1.4x
Sat, 09 May 2026R$792.2bR$507.1bR$57.9b10.5x13.7x1.6x
Mon, 06 Apr 2026R$841.0bR$552.4bR$59.7b10x14.1x1.5x
Wed, 04 Mar 2026R$834.1bR$545.6bR$62.8b8.7x13.3x1.5x
Fri, 30 Jan 2026R$804.8bR$544.8bR$49.6b9.2x16.2x1.5x
Sun, 28 Dec 2025R$737.2bR$544.8bR$49.6b9x14.9x1.4x
Tue, 25 Nov 2025R$758.7bR$551.3bR$49.6b9.3x15.3x1.4x
Thu, 23 Oct 2025R$706.3bR$543.5bR$70.6b8.4x10x1.3x
Sat, 20 Sep 2025R$685.1bR$538.5bR$70.1b8.2x9.8x1.3x
Mon, 18 Aug 2025R$638.8bR$536.2bR$70.6b8.4x9x1.2x
Wed, 16 Jul 2025R$611.8bR$520.3bR$73.3b8.2x8.3x1.2x
Fri, 13 Jun 2025R$653.8bR$525.4bR$73.9b8.7x8.8x1.2x
Sun, 11 May 2025R$625.8bR$515.2bR$72.8b8.2x8.6x1.2x
Tue, 08 Apr 2025R$560.5bR$504.4bR$73.0b7.6x7.7x1.1x
Thu, 06 Mar 2025R$559.2bR$494.4bR$71.2b7.8x7.9x1.1x
Sat, 01 Feb 2025R$552.2bR$474.8bR$69.1b8.7x8x1.2x
Mon, 30 Dec 2024R$527.3bR$474.8bR$69.1b8.4x7.6x1.1x
Wed, 27 Nov 2024R$566.7bR$474.8bR$69.1b8.7x8.2x1.2x
Fri, 25 Oct 2024R$594.6bR$473.2bR$56.4b9.4x10.5x1.3x
Sun, 22 Sep 2024R$608.9bR$470.6bR$57.0b8.3x10.7x1.3x
Tue, 20 Aug 2024R$621.8bR$474.8bR$59.2b8.2x10.5x1.3x
Thu, 18 Jul 2024R$581.0bR$463.1bR$55.9b7.9x10.4x1.3x
Sat, 15 Jun 2024R$548.0bR$463.1bR$55.9b7.9x9.8x1.2x
Mon, 13 May 2024R$578.9bR$469.8bR$56.2b8.5x10.3x1.2x
Wed, 10 Apr 2024R$611.1bR$465.6bR$54.7b9.2x11.2x1.3x
Fri, 08 Mar 2024R$588.5bR$440.3bR$44.4b9.8x13.3x1.3x
Sun, 04 Feb 2024R$617.1bR$468.3bR$47.0b11.9x13.1x1.3x
Tue, 02 Jan 2024R$635.8bR$468.3bR$47.0b12.9x13.5x1.4x
Thu, 30 Nov 2023R$605.0bR$457.9bR$47.0b11.7x12.9x1.3x
Sat, 28 Oct 2023R$561.8bR$459.3bR$45.7b10.7x12.3x1.2x
Mon, 25 Sep 2023R$579.3bR$458.7bR$45.4b11.3x12.8x1.3x
Wed, 23 Aug 2023R$571.4bR$458.3bR$43.9b10.7x13x1.2x
Price to Earnings Ratio

13x


Total Market Cap: R$571.4bTotal Earnings: R$43.9bTotal Revenue: R$458.3bTotal 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 12% 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 Market-3.28%
Utilities-6.24%
Gas Utilities0%0
Electric Utilities-5.44%
Renewable Energy-6.26%
Water Utilities-10.64%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio of 24.9x.
    • Analysts are expecting annual earnings growth of 27.7%, 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 10.6x.
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 12% 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%PE5.6x
LIGT3 LightR$3.254.8%
+R$55.9m		-46.7%PE0.5x
AFLT3 Afluente Transmissão de Energia ElétricaR$7.363.7%
+R$16.4m		-0.5%PE13x

Latest News

LIGT3
R$3.25
Light
7D
4.8%
1Y
-46.7%
EQMA3B
R$29.49
Equatorial Maranhão Distribuidora de Energia
7D
2.2%
1Y
8.8%
EQTL3
R$34.90
Equatorial
7D
-6.4%
1Y
-2.8%
CSMG3
R$55.81
Companhia de Saneamento de Minas Gerais
7D
-9.9%
1Y
108.8%
SBSP3
R$23.79
Companhia de Saneamento Básico do Estado de São Paulo - SABESP
7D
-11.5%
1Y
5.3%
CPFE3
R$41.29
CPFL Energia
7D
-7.8%
1Y
4.6%
ENEV3
R$24.45
Eneva
7D
-6.6%
1Y
73.7%
EGIE3
R$28.03
Engie Brasil Energia
7D
-5.7%
1Y
-0.3%
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$49.83
AXIA Energia
7D
-6.1%
1Y
12.6%
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.
CPLE3
R$13.69
Companhia Paranaense de Energia - COPEL
7D
-6.7%
1Y
21.3%
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...
AFLT3
R$7.36
Afluente Transmissão de Energia Elétrica
7D
3.7%
1Y
-0.5%
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...