Equatorial Future Growth

Future criteria checks 2/6

Equatorial is forecast to grow earnings and revenue by 15.7% and 0.7% per annum respectively. EPS is expected to grow by 19% per annum. Return on equity is forecast to be 13.4% in 3 years.

Key information

15.7%

Earnings growth rate

19.0%

EPS growth rate

Electric Utilities earnings growth	-1.0%
Revenue growth rate	0.7%
Future return on equity	13.4%
Analyst coverage	Good
Last updated	19 Apr 2025

Recent future growth updates

Recent updates

Equatorial (BVMF:EQTL3) Will Pay A Larger Dividend Than Last Year At R$0.9554

Apr 12

Additional Considerations Required While Assessing Equatorial's (BVMF:EQTL3) Strong Earnings

Apr 03

Equatorial S.A.'s (BVMF:EQTL3) Earnings Haven't Escaped The Attention Of Investors

Mar 27

Is Equatorial (BVMF:EQTL3) A Risky Investment?

Feb 12

Investors Appear Satisfied With Equatorial Energia S.A.'s (BVMF:EQTL3) Prospects

Dec 08

Powering Sustainable Growth Through Strategic Investments And Efficiency Gains

Dec 01 Strategic growth initiatives in sanitation and improved operational efficiencies in renewables are likely to enhance future revenue and earnings.

These 4 Measures Indicate That Equatorial Energia (BVMF:EQTL3) Is Using Debt Extensively

Oct 08

The Price Is Right For Equatorial Energia S.A. (BVMF:EQTL3)

Aug 14

These 4 Measures Indicate That Equatorial Energia (BVMF:EQTL3) Is Using Debt Extensively

Jun 12

Earnings Tell The Story For Equatorial Energia S.A. (BVMF:EQTL3)

May 10

Earnings and Revenue Growth Forecasts

BOVESPA:EQTL3 - Analysts future estimates and past financials data (BRL Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2027	44,570	5,285	6,855	N/A	2
12/31/2026	42,407	4,158	5,323	N/A	9
12/31/2025	39,852	3,201	3,980	7,441	4
12/31/2024	45,367	2,812	3,806	4,251	N/A
9/30/2024	43,994	2,222	-4,589	2,797	N/A
6/30/2024	41,992	2,182	-6,564	2,068	N/A
3/31/2024	40,707	2,191	-5,617	2,995	N/A
12/31/2023	40,985	2,076	1,660	4,350	N/A
9/30/2023	37,657	1,861	673	3,918	N/A
6/30/2023	34,175	1,646	-165	3,369	N/A
3/31/2023	31,466	958	-1,957	3,848	N/A
12/31/2022	27,133	1,374	-1,028	3,468	N/A
9/30/2022	27,273	2,335	-2,157	3,018	N/A
6/30/2022	27,881	3,241	-2,355	2,149	N/A
3/31/2022	25,944	3,921	-2,586	1,127	N/A
12/31/2021	24,241	3,695	-2,147	1,304	N/A
9/30/2021	22,177	3,675	55	2,079	N/A
6/30/2021	18,896	2,992	2,354	4,006	N/A
3/31/2021	17,824	2,888	1,993	3,667	N/A
12/31/2020	17,890	2,975	1,816	3,481	N/A
9/30/2020	18,082	2,886	612	2,646	N/A
6/30/2020	18,749	2,706	-1,226	814	N/A
3/31/2020	19,643	2,643	-2,541	-441	N/A
12/31/2019	18,796	2,416	-2,638	-651	N/A
9/30/2019	16,328	1,545	-2,003	259	N/A
6/30/2019	14,189	1,251	-1,542	691	N/A
3/31/2019	12,170	1,048	-591	1,524	N/A
12/31/2018	11,253	918	-223	1,839	N/A
9/30/2018	10,260	985	N/A	1,150	N/A
6/30/2018	9,946	1,043	N/A	1,175	N/A
3/31/2018	9,766	1,030	N/A	1,072	N/A
12/31/2017	9,071	997	N/A	1,057	N/A
9/30/2017	8,705	694	N/A	1,093	N/A
6/30/2017	8,287	571	N/A	912	N/A
3/31/2017	7,966	623	N/A	919	N/A
12/31/2016	7,952	712	N/A	868	N/A
9/30/2016	7,469	649	N/A	925	N/A
6/30/2016	7,327	541	N/A	1,057	N/A
3/31/2016	7,190	862	N/A	1,229	N/A
12/31/2015	7,253	808	N/A	1,198	N/A
9/30/2015	7,684	1,192	N/A	448	N/A
6/30/2015	7,492	1,394	N/A	213	N/A
3/31/2015	7,127	709	N/A	-177	N/A
12/31/2014	6,773	638	N/A	-374	N/A
9/30/2014	5,678	49	N/A	-141	N/A
6/30/2014	5,211	-33	N/A	-45	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: EQTL3's forecast earnings growth (15.7% per year) is above the savings rate (10.8%).

Earnings vs Market: EQTL3's earnings (15.7% per year) are forecast to grow faster than the BR market (13.3% per year).

High Growth Earnings: EQTL3's earnings are forecast to grow, but not significantly.

Revenue vs Market: EQTL3's revenue (0.7% per year) is forecast to grow slower than the BR market (7% per year).

High Growth Revenue: EQTL3's revenue (0.7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: EQTL3's Return on Equity is forecast to be low in 3 years time (13.4%).

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/04/22 12:34
End of Day Share Price	2025/04/17 00:00
Earnings	2024/12/31
Annual Earnings	2024/12/31

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	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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

Equatorial S.A. is covered by 21 analysts. 9 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
Bruno Pascon	Barclays
Felipe Mattar	Barclays
Gustavo Faria	BofA Global Research

Equatorial Future Growth

Future criteria checks 2/6

Key information

Recent future growth updates

Consensus EPS estimates fall by 16%

Consensus EPS estimates fall by 11%

Consensus EPS estimates increase by 12%

Consensus EPS estimates increase by 14%

Consensus forecasts updated

Consensus forecasts updated

Recent updates

Equatorial (BVMF:EQTL3) Will Pay A Larger Dividend Than Last Year At R$0.9554

Final dividend of R$0.96 announced

Equatorial S.A. announces Annual dividend

Additional Considerations Required While Assessing Equatorial's (BVMF:EQTL3) Strong Earnings

Equatorial S.A., Annual General Meeting, Apr 30, 2025

Full year 2024 earnings released: EPS: R$2.40 (vs R$1.81 in FY 2023)

Equatorial S.A.'s (BVMF:EQTL3) Earnings Haven't Escaped The Attention Of Investors

Is Equatorial (BVMF:EQTL3) A Risky Investment?

Equatorial S.A. to Report Q1, 2025 Results on May 14, 2025

Upcoming dividend of R$0.089 per share

Investors Appear Satisfied With Equatorial Energia S.A.'s (BVMF:EQTL3) Prospects

Powering Sustainable Growth Through Strategic Investments And Efficiency Gains

Consensus EPS estimates fall by 16%

Third quarter 2024 earnings: Revenues exceed analyst expectations

These 4 Measures Indicate That Equatorial Energia (BVMF:EQTL3) Is Using Debt Extensively

Second quarter 2024 earnings released: EPS: R$0.44 (vs R$0.47 in 2Q 2023)

Consensus EPS estimates fall by 11%

The Price Is Right For Equatorial Energia S.A. (BVMF:EQTL3)

Now 21% undervalued

These 4 Measures Indicate That Equatorial Energia (BVMF:EQTL3) Is Using Debt Extensively

Now 21% overvalued

First quarter 2024 earnings: Revenues exceed analyst expectations

Earnings Tell The Story For Equatorial Energia S.A. (BVMF:EQTL3)

Now 25% overvalued

New minor risk - Shareholder dilution

Full year 2023 earnings released

Equatorial Energia S.A. to Report Q3, 2024 Results on Nov 13, 2024

Equatorial Energia S.A. to Report Q1, 2024 Results on May 15, 2024

Consensus EPS estimates increase by 12%

Third quarter 2023 earnings released

Consensus EPS estimates increase by 14%

New minor risk - Earnings quality

Second quarter 2023 earnings: Revenues exceed analyst expectations

Full year 2022 earnings released

Consensus forecasts updated

Equatorial Energia S.A. to Report Q3, 2023 Results on Nov 08, 2023

Now 20% undervalued

Consensus forecasts updated

Now 21% undervalued

First quarter 2022 earnings: EPS and revenues exceed analyst expectations

Consensus forecasts updated

Less than half of directors are independent

Enel Reportedly in Talks to Sell Brazilian Distributor Celg-D

Equatorial Energia S.A. to Report Q3, 2022 Results on Nov 09, 2022

Third quarter 2021 earnings released

Second quarter 2021 earnings released: EPS R$0.52 (vs R$0.40 in 2Q 2020)

CEA Auction Faces Risk of Receiving Zero Bids

Consensus forecasts updated

Inaugural dividend of R$0.72 per share

Consensus forecasts updated

Investor sentiment improved over the past week

Full year 2020 earnings released: EPS R$2.94 (vs R$2.39 in FY 2019)

Equatorial Energia S.A. to Report Q4, 2020 Results on Mar 24, 2021

New 90-day low: R$20.66

New 90-day high: R$23.49

Equatorial Energia S.A., Annual General Meeting, Apr 30, 2021

New 90-day high: R$23.21

New 90-day high: R$23.16

New 90-day low: R$20.47

New 90-day low: R$20.87

CPFL and Equatorial Reportedly Mull Purchase of CEB

New 90-day low: R$22.12

Analysts increase EPS estimates to R$1.36

Earnings released

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings per Share Growth Forecasts

Future Return on Equity

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