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Brazilian (BOVESPA) Electric Utilities Industry Analysis

UpdatedFeb 24, 2026
DataAggregated Company Financials
Companies24
  • 7D2.5%
  • 3M4.1%
  • 1Y36.3%
  • YTD10.7%

Over the last 7 days, the Electric Utilities industry has risen 2.5%, driven by gains from Companhia Paranaense de Energia - COPEL of 3.1%. In the last 12 months, the industry was up 36%. As for the next few years, earnings are expected to grow by 16% per annum.

Industry Valuation and Performance

Has the Brazilian Electric Utilities Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 24 Feb 2026R$563.4bR$434.0bR$35.4b8.5x15.9x1.3x
Thu, 22 Jan 2026R$513.6bR$433.4bR$34.9b8.2x14.7x1.2x
Sat, 20 Dec 2025R$503.1bR$433.4bR$34.9b8.2x14.4x1.2x
Mon, 17 Nov 2025R$510.5bR$432.7bR$35.3b8.8x14.5x1.2x
Wed, 15 Oct 2025R$453.4bR$424.8bR$51.6b8x8.8x1.1x
Fri, 12 Sep 2025R$451.5bR$424.8bR$51.6b8.1x8.8x1.1x
Sun, 10 Aug 2025R$438.6bR$418.0bR$51.4b7.7x8.5x1x
Tue, 08 Jul 2025R$430.5bR$411.8bR$53.7b7.8x8x1x
Thu, 05 Jun 2025R$437.3bR$411.8bR$53.8b7.7x8.1x1.1x
Sat, 03 May 2025R$414.8bR$402.8bR$53.9b7.7x7.7x1x
Mon, 31 Mar 2025R$391.3bR$402.5bR$53.9b7.6x7.3x1x
Wed, 26 Feb 2025R$393.2bR$392.6bR$50.3b9.1x7.8x1x
Fri, 24 Jan 2025R$375.9bR$388.5bR$50.2b8.5x7.5x1x
Sun, 22 Dec 2024R$379.8bR$388.5bR$50.2b8.4x7.6x1x
Tue, 19 Nov 2024R$391.2bR$388.3bR$50.2b8.8x7.8x1x
Thu, 17 Oct 2024R$396.6bR$375.7bR$41.7b8.1x9.5x1.1x
Sat, 14 Sep 2024R$413.8bR$375.7bR$41.7b8.1x9.9x1.1x
Mon, 12 Aug 2024R$404.2bR$376.2bR$41.9b8.1x9.7x1.1x
Wed, 10 Jul 2024R$403.5bR$374.1bR$42.5b7.9x9.5x1.1x
Fri, 07 Jun 2024R$393.7bR$374.4bR$43.0b7.8x9.2x1.1x
Sun, 05 May 2024R$408.8bR$371.6bR$42.5b7.7x9.6x1.1x
Tue, 02 Apr 2024R$413.4bR$372.0bR$42.6b8.7x9.7x1.1x
Thu, 29 Feb 2024R$422.0bR$364.0bR$34.3b8x12.3x1.2x
Sat, 27 Jan 2024R$438.0bR$389.7bR$34.2b9.6x12.8x1.1x
Mon, 25 Dec 2023R$441.2bR$389.7bR$34.2b9x12.9x1.1x
Wed, 22 Nov 2023R$431.0bR$389.7bR$34.2b9.6x12.6x1.1x
Fri, 20 Oct 2023R$384.0bR$381.9bR$31.5b9.2x12.2x1x
Sun, 17 Sep 2023R$413.2bR$381.9bR$31.5b9.2x13.1x1.1x
Tue, 15 Aug 2023R$412.1bR$381.8bR$29.3b9.4x14.1x1.1x
Thu, 13 Jul 2023R$416.0bR$376.9bR$28.8b8.8x14.4x1.1x
Sat, 10 Jun 2023R$400.9bR$376.8bR$29.5b8.1x13.6x1.1x
Mon, 08 May 2023R$376.9bR$371.4bR$29.3b8.8x12.9x1x
Wed, 05 Apr 2023R$369.2bR$368.3bR$31.9b8.4x11.6x1x
Fri, 03 Mar 2023R$360.6bR$378.0bR$39.1b7.6x9.2x1x
Price to Earnings Ratio

9.2x


Total Market Cap: R$360.6bTotal Earnings: R$39.1bTotal Revenue: R$378.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Electric Utilities Industry Price to Earnings3Y Average 10.6x202420252026
Current Industry PE
  • Investors are optimistic on the Brazilian Electric Utilities industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 15.9x which is higher than its 3-year average PE of 10.6x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the Electric Utilities industry have declined 3.2% per year over the last three years.
  • Meanwhile revenues for these companies have grown 4.7% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the Brazilian Utilities industry?

BR Market1.18%
Utilities1.91%
Electric Utilities2.47%
Electric Utilities2.47%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
CPLE3 Companhia Paranaense de Energia - COPELR$14.403.1%
+R$1.3b		58.4%PE19.5x
ENGI11 EnergisaR$53.433.5%
+R$699.8m		45.1%PE6.2x
EQTL3 EquatorialR$41.511.2%
+R$641.7m		36.8%PE15.5x
TAEE11 Transmissora Aliança de Energia ElétricaR$45.033.3%
+R$492.6m		37.4%PE9x
EQPA3 Equatorial Pará Distribuidora de EnergiaR$6.391.9%
+R$265.1m		16.2%PE8.6x

Latest News

CPFE3
R$50.09
CPFL Energia
7D
-1.3%
1Y
42.7%

CPFE3: Stable Earnings Assumptions And Firm P/E Will Likely Keep Shares Fairly Valued

Analysts have nudged their fair value estimate for CPFL Energia higher to about R$46.59 from roughly R$46.09, citing updated assumptions around future earnings and valuation multiples as the key drivers of the revised price target. Analyst Commentary Bullish Takeaways Bullish analysts view the modest uplift in fair value, from about R$46.09 to roughly R$46.59, as a sign that updated assumptions around earnings and valuation multiples still support the current thesis rather than forcing a reset.
NEOE3
R$32.81
Neoenergia
7D
0.3%
1Y
69.1%

NEOE3: Iberdrola Tender Offer Will Drive Upside Despite Recent Downgrade

Analysts have trimmed their price expectations for Neoenergia to R$42.60, citing a more cautious stance reflected in recent downgrades and updated views on discount rates, revenue growth assumptions, profit margins and future P/E levels. Analyst Commentary While some research houses have turned more cautious, there are still Bullish analysts who point to potential upside if Neoenergia executes well against current expectations and market assumptions.
ENGI11
R$53.43
Energisa
7D
3.5%
1Y
45.1%
CPLE3
R$14.40
Companhia Paranaense de Energia - COPEL
7D
3.1%
1Y
58.4%
CEED3
R$9.79
Companhia Estadual de Distribuição de Energia Elétrica
7D
9.3%
1Y
-9.6%
TAEE11
R$45.03
Transmissora Aliança de Energia Elétrica
7D
3.3%
1Y
37.4%

TAEE11: Persistent Revenue Decline Will Keep Future P/E Under Pressure

Analysts have modestly trimmed their price target for Transmissora Aliança de Energia Elétrica to R$37.53, reflecting slightly lower discount rate and forward P/E assumptions, while keeping revenue and margin expectations effectively unchanged. What's in the News Transmissora Aliança de Energia Elétrica has scheduled a Special and Extraordinary Shareholders Meeting for February 27, 2026, to be held exclusively remotely in Brazil (company event filing).
CBEE3
R$10.00
Ampla Energia e Serviços
7D
-6.5%
1Y
n/a

Take Care Before Diving Into The Deep End On Ampla Energia e Serviços S.A. (BVMF:CBEE3)

Feb 14
Take Care Before Diving Into The Deep End On Ampla Energia e Serviços S.A. (BVMF:CBEE3)
ALUP11
R$35.78
Alupar Investimento
7D
-0.06%
1Y
32.5%

ALUP11: Dividend Agenda And Margin Assumptions Will Guide A Measured Outlook

Analysts have raised their price target for Alupar Investimento to R$39.54 from R$38.60, citing updated assumptions related to discount rates, revenue growth, profit margins and future P/E multiples. What's in the News Board meeting scheduled for November 6, 2025, with an agenda to approve dividends for shareholders, signaling upcoming decisions on cash returns (Key Developments).
EQTL3
R$41.51
Equatorial
7D
1.2%
1Y
36.8%

EQTL3: Higher Assumed P/E Multiple Will Support Ongoing Bullish Undervaluation Narrative

Analysts have modestly raised their price target on Equatorial to $47.10 from $46.38, pointing to updated views on fair value, discount rate, revenue trends, profit margin expectations, and a higher assumed future P/E multiple. Valuation Changes Fair Value: updated from R$46.38 to R$47.10, representing a small upward adjustment in the assessed share value.
EQPA3
R$6.39
Equatorial Pará Distribuidora de Energia
7D
1.9%
1Y
16.2%

We Think Equatorial Pará Distribuidora de Energia (BVMF:EQPA3) Is Taking Some Risk With Its Debt

Feb 10
We Think Equatorial Pará Distribuidora de Energia (BVMF:EQPA3) Is Taking Some Risk With Its Debt
EQMA3B
R$31.99
Equatorial Maranhão Distribuidora de Energia
7D
3.2%
1Y
29.6%

Return Trends At Equatorial Maranhão Distribuidora de Energia (BVMF:EQMA3B) Aren't Appealing

Jan 28
Return Trends At Equatorial Maranhão Distribuidora de Energia (BVMF:EQMA3B) Aren't Appealing
CEEB3
R$45.94
Companhia de Eletricidade do Estado da Bahia - COELBA
7D
-2.3%
1Y
22.0%

Here's Why Companhia de Eletricidade do Estado da Bahia - COELBA (BVMF:CEEB3) Is Weighed Down By Its Debt Load

Jan 27
Here's Why Companhia de Eletricidade do Estado da Bahia - COELBA (BVMF:CEEB3) Is Weighed Down By Its Debt Load
GPAR3
R$14.99
Companhia CELG de Participações S/A
7D
-6.3%
1Y
-40.0%

Is Companhia CELG de Participações S/A (BVMF:GPAR3) Weighed On By Its Debt Load?

Jan 21
Is Companhia CELG de Participações S/A (BVMF:GPAR3) Weighed On By Its Debt Load?
REDE3
R$6.31
Rede Energia Participações
7D
-0.2%
1Y
-7.1%
AFLT3
R$7.35
Afluente Transmissão de Energia Elétrica
7D
-0.7%
1Y
3.1%