Companhia de Saneamento de Minas Gerais Past Earnings Performance
We're still processing the latest earnings report of this company
Past criteria checks 3/6
Companhia de Saneamento de Minas Gerais has been growing earnings at an average annual rate of 17.2%, while the Water Utilities industry saw earnings growing at 16.8% annually. Revenues have been growing at an average rate of 9.4% per year. Companhia de Saneamento de Minas Gerais's return on equity is 16.5%, and it has net margins of 17%.
Key information
17.19%
Earnings growth rate
17.20%
EPS growth rate
| Water Utilities Industry Growth | 4.81% |
| Revenue growth rate | 9.37% |
| Return on equity | 16.50% |
| Net Margin | 17.00% |
| Next Earnings Update | 11 May 2026 |
Recent past performance updates
Recent updates
Narrative Update • May 04
CSMG3: Future Returns Will Reflect Index Additions And Steady Fair Value
Analysts have kept their fair value estimate for Companhia de Saneamento de Minas Gerais essentially unchanged at around R$54.64, reflecting only minor tweaks to their underlying assumptions for discount rate, revenue growth, profit margin and future P/E. What's in the News Companhia de Saneamento de Minas Gerais was added to the Brazil Valor BM&FBOVESPA Index, putting the stock on the radar of investors who track that benchmark (Key Developments).Narrative Update • Apr 18
CSMG3: Future Returns Will Reflect Index Inclusion And Stable Fair Value
Analysts have maintained their R$54.64 price target for Companhia de Saneamento de Minas Gerais, citing unchanged assumptions around the discount rate, revenue growth, profit margins, and future P/E multiples. What's in the News Companhia de Saneamento de Minas Gerais was added to the FTSE All-World Index (USD), which can influence how global index funds and ETFs gain exposure to the stock (Key Developments).Narrative Update • Apr 03
CSMG3: Future Returns Will Balance Index Additions With Steady Fair Value
Analysts now place the price target for Companhia de Saneamento de Minas Gerais at R$54.64, up from the previous R$52.71, citing updated expectations for slightly softer revenue growth, higher profit margins and a lower future P/E assumption. What's in the News Companhia de Saneamento de Minas Gerais will hold a Special and Extraordinary Shareholders Meeting on February 23, 2026, at 525 Mar de Espanha Street, Santo Antonio district, Belo Horizonte, Minas Gerais, with partial remote participation available, in Brazil (company announcement).Narrative Update • Mar 20
CSMG3: Future Returns Will Balance IBOVESPA Entry With Steady Fair Value
Analysts have raised their price target on Companhia de Saneamento de Minas Gerais to R$52.71, stating that updated assumptions in their models now incorporate modestly higher revenue growth, slightly stronger profit margins, and a lower forward P/E multiple. What's in the News Companhia de Saneamento de Minas Gerais is scheduled to hold a Special and Extraordinary Shareholders Meeting on February 23, 2026, to be conducted partially remotely from Belo Horizonte, Minas Gerais (company event filing).Narrative Update • Mar 05
CSMG3: Future Returns Will Weigh IBOVESPA Inclusion Against Steady Assumptions
Analysts have kept their R$52.71 price target for Companhia de Saneamento de Minas Gerais unchanged, citing consistent assumptions around the discount rate, revenue growth, profit margin and forward P/E as the basis for maintaining their view. What's in the News A special and extraordinary shareholders meeting is scheduled for February 23, 2026.Narrative Update • Feb 17
CSMG3: Future Returns Will Likely Balance Rich P/E And Fair Valuation
Analysts have lifted their price target for Companhia de Saneamento de Minas Gerais from R$47.48 to R$52.71, citing updated views on its discount rate assumptions, revenue growth outlook, profit margins and future P/E expectations. What's in the News A special and extraordinary shareholders meeting is scheduled for Feb 23, 2026, to be held partially remotely in Belo Horizonte, Minas Gerais (company event notice).Analysis Article • Feb 04
There's Reason For Concern Over Companhia de Saneamento de Minas Gerais' (BVMF:CSMG3) Massive 25% Price Jump
Companhia de Saneamento de Minas Gerais ( BVMF:CSMG3 ) shares have continued their recent momentum with a 25% gain in...Narrative Update • Feb 03
CSMG3: Future Returns Will Likely Be Capped By Rich P/E Assumptions
Narrative Update Analysts have increased their price target for Companhia de Saneamento de Minas Gerais to US$47.48 from US$40.91, citing updated assumptions for profit margins and future P/E that adjust their valuation framework. What's in the News An upcoming special and extraordinary shareholders meeting is scheduled for February 23, 2026, and will be held partially remotely in Belo Horizonte, Minas Gerais (company event notice).Analysis Article • Jan 24
Does Companhia de Saneamento de Minas Gerais (BVMF:CSMG3) Have A Healthy Balance Sheet?
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Narrative Update • Jan 19
CSMG3: Future Returns Will Likely Be Limited By Compressed Margins
Analysts have modestly lifted their fair value estimate for Companhia de Saneamento de Minas Gerais from about R$39.48 to roughly R$40.91 per share, reflecting updated assumptions around the discount rate, revenue growth, profit margin, and future P/E. What's in the News Companhia de Saneamento de Minas Gerais has been added to the Brazil IBOVESPA Index, placing the stock among the benchmark names tracked by many local investors and index products (Key Developments).Narrative Update • Jan 04
CSMG3: Future Returns Will Likely Be Limited By Margin Compression
Analysts have modestly raised their price target for Companhia de Saneamento de Minas Gerais to about 39.48 reais from roughly 37.63 reais, reflecting expectations of slightly slower revenue growth but a higher future earnings multiple, despite some compression in projected profit margins. What's in the News Company schedules a Special and Extraordinary Shareholders Meeting for October 29, 2025 in Belo Horizonte, Minas Gerais, Brazil, to address corporate matters at its headquarters on Mar de Espanha Street (company disclosure) Shareholders are expected to review and vote on key governance and capital structure items at the October 2025 meeting, which could influence future strategic direction and investor perception (company disclosure) The formal convening of the October 29, 2025 meeting signals continued corporate activity and potential adjustments in the company corporate framework ahead of Brazil ongoing sanitation sector reforms (company disclosure) Valuation Changes Fair Value: risen modestly from R$37.63 to R$39.48 per share, reflecting a slightly higher long term valuation.Narrative Update • Dec 15
CSMG3: Future Returns Will Likely Be Constrained By Elevated Discount Rate
Analysts have raised their price target for Companhia de Saneamento de Minas Gerais from approximately R$33.37 to R$37.63, citing expectations of stronger profit margins and a slightly lower future P E multiple, despite modestly softer revenue growth assumptions. What's in the News Companhia de Saneamento de Minas Gerais has scheduled a Special and Extraordinary Shareholders Meeting for October 29, 2025, in Belo Horizonte, Minas Gerais, to address key corporate matters at its headquarters on Mar de Espanha Street in the Santo Antonio district (Key Developments).Analysis Article • Dec 14
Pinning Down Companhia de Saneamento de Minas Gerais' (BVMF:CSMG3) P/E Is Difficult Right Now
Companhia de Saneamento de Minas Gerais' ( BVMF:CSMG3 ) price-to-earnings (or "P/E") ratio of 12.3x might make it look...Narrative Update • Nov 29
CSMG3: Earnings Outlook Will Remain Pressured By Persistent Discount Rate
Analysts have slightly adjusted their price target for Companhia de Saneamento de Minas Gerais to R$33.37. This change reflects minor adjustments in forecasts for revenue growth, profitability, and valuation multiples.Narrative Update • Nov 14
CSMG3: Higher Discount Rate Will Likely Limit Near-Term Upside Potential
Analysts have raised their price target for Companhia de Saneamento de Minas Gerais from $32.99 to $33.37, citing improvements in projected revenue growth and valuation metrics. What's in the News The company has announced a Special and Extraordinary Shareholders Meeting scheduled for October 29, 2025, at its headquarters in Belo Horizonte, Minas Gerais, Brazil (Key Developments).Analysis Article • Nov 06
Returns On Capital At Companhia de Saneamento de Minas Gerais (BVMF:CSMG3) Have Stalled
If you're looking for a multi-bagger, there's a few things to keep an eye out for. In a perfect world, we'd like to see...Narrative Update • Oct 31
CSMG3: Higher Projected P/E Will Drive Down Future Equity Returns
Analysts have raised their price target for Companhia de Saneamento de Minas Gerais from R$30.62 to R$33.00, citing adjustments to forward valuation assumptions and updated profit outlooks. What's in the News A Special or Extraordinary Shareholders Meeting is scheduled for October 29, 2025, at 525 Mar de Espanha Street, Santo Antonio District, Belo Horizonte, Minas Gerais, Brazil (Key Developments) Valuation Changes Fair Value increased from R$30.62 to R$33.00, reflecting a modest upward adjustment.Analysis Article • Oct 19
Does Companhia de Saneamento de Minas Gerais (BVMF:CSMG3) Have A Healthy Balance Sheet?
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Narrative Update • Oct 17
Aggressive CapEx Will Lead To Future Valuation Collapse
Analysts have raised their price target for Companhia de Saneamento de Minas Gerais from $27.95 to $30.62, citing improved projected profit margins even though revenue growth expectations are slightly lower. What's in the News An Extraordinary Shareholders Meeting is scheduled for October 29, 2025, at 525 Mar de Espanha Street, Santo Antonio District, Belo Horizonte, Minas Gerais, Brazil (Key Developments) Valuation Changes Fair Value: Increased from R$27.95 to R$30.62, reflecting an upward revision in the company's estimated worth.Narrative Update • Oct 03
Aggressive CapEx Will Lead To Future Valuation Collapse
Analysts have raised their price target for Companhia de Saneamento de Minas Gerais from R$27.03 to R$27.95. This reflects improved profit margin expectations and a slightly lower future price-to-earnings ratio in their updated forecasts.Narrative Update • Sep 16
Aggressive CapEx Will Lead To Future Valuation Collapse
The consensus analyst price target for Companhia de Saneamento de Minas Gerais has been revised upwards, primarily reflecting improved revenue growth forecasts despite a slight decline in net profit margin, resulting in a new target of R$27.03. What's in the News Announced a Special/Extraordinary Shareholders Meeting to be held in Belo Horizonte, Brazil.Analysis Article • Aug 25
Some Confidence Is Lacking In Companhia de Saneamento de Minas Gerais' (BVMF:CSMG3) P/E
With a median price-to-earnings (or "P/E") ratio of close to 9x in Brazil, you could be forgiven for feeling...Analysis Article • Aug 07
Companhia de Saneamento de Minas Gerais (BVMF:CSMG3) Second-Quarter Results Just Came Out: Here's What Analysts Are Forecasting For This Year
BOVESPA:CSMG3 1 Year Share Price vs Fair Value Explore Companhia de Saneamento de Minas Gerais's Fair Values from the...Analysis Article • Jun 25
Companhia de Saneamento de Minas Gerais (BVMF:CSMG3) Seems To Use Debt Quite Sensibly
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Analysis Article • May 18
Earnings Beat: Companhia de Saneamento de Minas Gerais Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models
Companhia de Saneamento de Minas Gerais ( BVMF:CSMG3 ) just released its latest first-quarter results and things are...Analysis Article • Apr 25
Companhia de Saneamento de Minas Gerais' (BVMF:CSMG3) Prospects Need A Boost To Lift Shares
When close to half the companies in Brazil have price-to-earnings ratios (or "P/E's") above 10x, you may consider...Analysis Article • Mar 28
The Companhia de Saneamento de Minas Gerais (BVMF:CSMG3) Full-Year Results Are Out And Analysts Have Published New Forecasts
It's been a sad week for Companhia de Saneamento de Minas Gerais ( BVMF:CSMG3 ), who've watched their investment drop...Analysis Article • Feb 20
Companhia de Saneamento de Minas Gerais (BVMF:CSMG3) Might Have The Makings Of A Multi-Bagger
What are the early trends we should look for to identify a stock that could multiply in value over the long term? In a...
New Narrative • Feb 09
Rising Costs And Contract Uncertainties Will Strain Future Earnings In Brazil's Water Utilities
Upward pressure on costs and rising doubtful accounts could strain margins and cash flow, hindering earnings growth.Analysis Article • Feb 01
These 4 Measures Indicate That Companhia de Saneamento de Minas Gerais (BVMF:CSMG3) Is Using Debt Reasonably Well
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • Dec 24
Earnings Working Against Companhia de Saneamento de Minas Gerais' (BVMF:CSMG3) Share Price
Companhia de Saneamento de Minas Gerais' ( BVMF:CSMG3 ) price-to-earnings (or "P/E") ratio of 5.7x might make it look...Analysis Article • Nov 07
Companhia de Saneamento de Minas Gerais Just Recorded A 11% Revenue Beat: Here's What Analysts Think
Companhia de Saneamento de Minas Gerais ( BVMF:CSMG3 ) came out with its quarterly results last week, and we wanted to...Analysis Article • Jul 23
Companhia de Saneamento de Minas Gerais (BVMF:CSMG3) Is Doing The Right Things To Multiply Its Share Price
There are a few key trends to look for if we want to identify the next multi-bagger. In a perfect world, we'd like to...Analysis Article • Jul 02
Benign Growth For Companhia de Saneamento de Minas Gerais (BVMF:CSMG3) Underpins Its Share Price
With a price-to-earnings (or "P/E") ratio of 5.4x Companhia de Saneamento de Minas Gerais ( BVMF:CSMG3 ) may be sending...Analysis Article • Jun 12
Does Companhia de Saneamento de Minas Gerais (BVMF:CSMG3) Have A Healthy Balance Sheet?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • Mar 11
Companhia de Saneamento de Minas Gerais (BVMF:CSMG3) Has A Pretty Healthy Balance Sheet
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...Analysis Article • Feb 21
Companhia de Saneamento de Minas Gerais (BVMF:CSMG3) Is Looking To Continue Growing Its Returns On Capital
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Amongst other...Analysis Article • Jan 29
Improved Earnings Required Before Companhia de Saneamento de Minas Gerais (BVMF:CSMG3) Shares Find Their Feet
When close to half the companies in Brazil have price-to-earnings ratios (or "P/E's") above 12x, you may consider...Analysis Article • Nov 07
We Think Companhia de Saneamento de Minas Gerais (BVMF:CSMG3) Can Stay On Top Of Its Debt
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Analysis Article • Oct 18
There's Been No Shortage Of Growth Recently For Companhia de Saneamento de Minas Gerais' (BVMF:CSMG3) Returns On Capital
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...Analysis Article • Aug 02
Companhia de Saneamento de Minas Gerais (BVMF:CSMG3) Seems To Use Debt Quite Sensibly
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Analysis Article • Apr 10
Companhia de Saneamento de Minas Gerais (BVMF:CSMG3) Has A Pretty Healthy Balance Sheet
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Analysis Article • Mar 23
Analysts' Revenue Estimates For Companhia de Saneamento de Minas Gerais (BVMF:CSMG3) Are Surging Higher
Companhia de Saneamento de Minas Gerais ( BVMF:CSMG3 ) shareholders will have a reason to smile today, with the...Analysis Article • Jan 26
Returns On Capital At Companhia de Saneamento de Minas Gerais (BVMF:CSMG3) Have Stalled
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...Analysis Article • Oct 21
Companhia de Saneamento de Minas Gerais (BVMF:CSMG3) Has Some Difficulty Using Its Capital Effectively
If you're looking at a mature business that's past the growth phase, what are some of the underlying trends that pop...Analysis Article • Sep 04
Companhia de Saneamento de Minas Gerais (BVMF:CSMG3) Has A Somewhat Strained Balance Sheet
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Companhia de Saneamento de Minas Gerais makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Dec 25 | 8,330 | 1,416 | 1,324 | 0 |
| 30 Sep 25 | 8,162 | 1,351 | 1,290 | 0 |
| 30 Jun 25 | 8,094 | 1,358 | 1,260 | 0 |
| 31 Mar 25 | 7,746 | 1,394 | 1,223 | 0 |
| 31 Dec 24 | 7,878 | 1,317 | 1,220 | 0 |
| 30 Sep 24 | 7,867 | 1,400 | 1,174 | 0 |
| 30 Jun 24 | 7,698 | 1,469 | 1,162 | 0 |
| 31 Mar 24 | 7,535 | 1,393 | 1,172 | 0 |
| 31 Dec 23 | 7,404 | 1,379 | 1,135 | 0 |
| 30 Sep 23 | 6,997 | 1,292 | 1,140 | 0 |
| 30 Jun 23 | 6,741 | 1,082 | 1,104 | 0 |
| 31 Mar 23 | 6,475 | 1,014 | 1,043 | 0 |
| 31 Dec 22 | 6,177 | 843 | 1,046 | 0 |
| 30 Sep 22 | 6,145 | 639 | 1,042 | 0 |
| 30 Jun 22 | 6,034 | 429 | 1,104 | 0 |
| 31 Mar 22 | 5,949 | 485 | 1,114 | 0 |
| 31 Dec 21 | 5,895 | 538 | 1,082 | 0 |
| 30 Sep 21 | 5,783 | 742 | 1,090 | 0 |
| 30 Jun 21 | 5,634 | 966 | 1,048 | 0 |
| 31 Mar 21 | 5,442 | 875 | 1,099 | 0 |
| 31 Dec 20 | 5,343 | 816 | 1,099 | 0 |
| 30 Sep 20 | 5,300 | 803 | 1,029 | 0 |
| 30 Jun 20 | 5,273 | 756 | 986 | 0 |
| 31 Mar 20 | 5,226 | 728 | 905 | 0 |
| 31 Dec 19 | 5,157 | 754 | 892 | 0 |
| 30 Sep 19 | 5,003 | 677 | 924 | 0 |
| 30 Jun 19 | 4,871 | 610 | 955 | 0 |
| 31 Mar 19 | 4,818 | 601 | 978 | 0 |
| 31 Dec 18 | 4,737 | 579 | 990 | 0 |
| 30 Sep 18 | 4,664 | 551 | 985 | 0 |
| 30 Jun 18 | 4,572 | 575 | 891 | 0 |
| 31 Mar 18 | 4,411 | 576 | 923 | 0 |
| 31 Dec 17 | 4,326 | 560 | 901 | 0 |
| 30 Sep 17 | 4,155 | 541 | 869 | 0 |
| 30 Jun 17 | 4,090 | 501 | 902 | 0 |
| 31 Mar 17 | 4,066 | 493 | 753 | 0 |
| 31 Dec 16 | 4,033 | 434 | 727 | 0 |
| 30 Sep 16 | 4,034 | 262 | 802 | 0 |
| 30 Jun 16 | 3,990 | 161 | 774 | 0 |
| 31 Mar 16 | 3,943 | 62 | 850 | 0 |
| 31 Dec 15 | 3,834 | -12 | 846 | 0 |
| 30 Sep 15 | 3,860 | 51 | 758 | 0 |
| 30 Jun 15 | 4,034 | 140 | 768 | 0 |
Quality Earnings: CSMG3 has high quality earnings.
Growing Profit Margin: CSMG3's current net profit margins (17%) are higher than last year (16.7%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: CSMG3's earnings have grown by 17.2% per year over the past 5 years.
Accelerating Growth: CSMG3's earnings growth over the past year (7.5%) is below its 5-year average (17.2% per year).
Earnings vs Industry: CSMG3 earnings growth over the past year (7.5%) did not outperform the Water Utilities industry 12.5%.
Return on Equity
High ROE: CSMG3's Return on Equity (16.5%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/10 03:29 |
| End of Day Share Price | 2026/05/08 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Companhia de Saneamento de Minas Gerais is covered by 19 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Felipe Mattar | Barclays |
| Rafael Bezerra Dias | BB Banco de Investimento S.A. |
| Gustavo Faria | BofA Global Research |