Equatorial S.A.

BOVESPA:EQTL3 Stock Report

Market Cap: R$53.2b

Equatorial Management

Management criteria checks 1/4

We currently do not have sufficient information about the CEO.

Key information

Augusto Miranda da Paz Junior

Chief executive officer

n/a

Total compensation

CEO salary percentagen/a
CEO tenure10.5yrs
CEO ownershipn/a
Management average tenure3.9yrs
Board average tenure2.3yrs

Recent management updates

Recent updates

Narrative Update • Apr 26

EQTL3: Fair Value View And 2026 Meeting Will Shape Profit Outlook

Analysts have raised their price target for Equatorial from R$47.32 to R$48.10, citing updated assumptions that include a different discount rate, a change in expected revenue contraction, a higher profit margin outlook and a lower future P/E multiple. What's in the News Equatorial S.A. has scheduled a Special and Extraordinary Shareholders Meeting for April 30, 2026, which may address corporate matters that affect governance or capital structure (Key Developments).
Narrative Update • Apr 11

EQTL3: Steady Fair Value And 2026 Meeting Will Shape Future Outlook

Analysts have kept their fair value estimate for Equatorial broadly unchanged at around R$47.32 per share, with only marginal tweaks to the discount rate, revenue growth, profit margin and assumed future P/E feeding into a steady price target view. What's in the News Equatorial scheduled a Special and Extraordinary Shareholders Meeting for April 30, 2026, giving investors a clear date to watch for potential corporate decisions that could affect the equity story (Key Developments).
Analysis Article • Mar 28

Here's What Analysts Are Forecasting For Equatorial S.A. (BVMF:EQTL3) After Its Yearly Results

Equatorial S.A. ( BVMF:EQTL3 ) shareholders are probably feeling a little disappointed, since its shares fell 2.3% to...
Narrative Update • Mar 28

EQTL3: Higher Future P/E Assumptions Will Support Bullish Earnings Outlook

Analysts have slightly raised their price target for Equatorial to R$47.32 from R$47.25. They point to updated assumptions that now reflect a marginally higher discount rate, a softer revenue growth outlook, a lower profit margin and a higher future P/E multiple.
Narrative Update • Mar 13

EQTL3: Lower Discount Rate Will Support Bullish Thesis On Future Earnings

Analysts have nudged their price target on Equatorial slightly higher to R$47.25 from R$47.10, reflecting refreshed assumptions around the discount rate, revenue trends, profit margins and future P/E multiples. Valuation Changes Fair Value: R$47.25 compared with R$47.10 previously, a slight upward adjustment in the modelled price level.
Narrative Update • Feb 26

EQTL3: Stable Fair Value And P/E Assumptions Will Sustain Bullish Thesis

Analysts kept their fair value estimate for Equatorial broadly unchanged at around R$47.10, with only small tweaks to the discount rate and assumed future P/E. This signals that their refreshed price target is primarily a fine tuning rather than a major reset in view of recent research updates.
Narrative Update • Feb 10

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.
Analysis Article • Jan 28

Subdued Growth No Barrier To Equatorial S.A.'s (BVMF:EQTL3) Price

When close to half the companies in Brazil have price-to-earnings ratios (or "P/E's") below 10x, you may consider...
Narrative Update • Jan 27

EQTL3: Lower Discount Rate And Firm P/E Will Support Bullish Undervaluation Narrative

Analysts have increased their price target on Equatorial by about $0.50, citing a slightly lower discount rate and marginally different assumptions for fair value and future P/E as the key drivers of this update. Valuation Changes Fair Value: risen slightly from R$45.88 to R$46.38, reflecting a modest uplift in the modelled intrinsic value.
Narrative Update • Jan 12

EQTL3: Future P/E And Stable Margins Will Sustain Bullish Undervaluation Narrative

Narrative Update on Equatorial Analysts have trimmed their price target on Equatorial to US$45.88, reflecting slightly higher discount rate and future P/E assumptions, while keeping fair value and margin expectations broadly unchanged. Valuation Changes Fair Value: Model fair value remains unchanged at US$45.88 per share.
Narrative Update • Dec 21

EQTL3: Future Earnings Multiple Will Support Bullish Undervaluation Narrative

Analysts have modestly raised their price target on Equatorial by about $0.36 per share to reflect a slightly lower perceived risk, marginally improved long term revenue expectations, and a still supportive future P/E outlook despite a small downward revision to profit margin assumptions. Valuation Changes Fair Value: R$45.52 has risen slightly to about R$45.88, reflecting a modest uplift in intrinsic value estimates.
Analysis Article • Dec 10

Does Equatorial (BVMF:EQTL3) Have A Healthy Balance Sheet?

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...
Narrative Update • Dec 07

EQTL3: Slower Revenue Decline Is Expected To Support Bullish Outlook

Analysts have modestly raised their price target on Equatorial from approximately $44.26 to $45.52 per share. They cited expectations for a slower revenue decline and a lower future price to earnings multiple, which more than offset slightly weaker projected margins and a higher discount rate.
Analysis Article • Nov 19

We Think That There Are Issues Underlying Equatorial's (BVMF:EQTL3) Earnings

Equatorial S.A.'s ( BVMF:EQTL3 ) robust earnings report didn't manage to move the market for its stock. Our analysis...
Analysis Article • Oct 21

Equatorial S.A.'s (BVMF:EQTL3) Share Price Not Quite Adding Up

When close to half the companies in Brazil have price-to-earnings ratios (or "P/E's") below 8x, you may consider...
Narrative Update • Sep 27

Upgrades And Renewables Investments Will Shape Brazil's Energy Future

Equatorial’s fair value estimate remained nearly unchanged as a modest decline in net profit margin and an increase in future P/E were offset by only a marginal upward revision in the consensus analyst price target to R$44.26. What's in the News Hosted Analyst/Investor Day event.
Analysis Article • Sep 08

Is Equatorial (BVMF:EQTL3) A Risky Investment?

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Analysis Article • Jul 23

Some Confidence Is Lacking In Equatorial S.A.'s (BVMF:EQTL3) P/E

With a price-to-earnings (or "P/E") ratio of 13.8x Equatorial S.A. ( BVMF:EQTL3 ) may be sending very bearish signals...
Analysis Article • May 16

Revenue Beat: Equatorial S.A. Beat Analyst Estimates By 28%

A week ago, Equatorial S.A. ( BVMF:EQTL3 ) came out with a strong set of first-quarter numbers that could potentially...
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New Narrative • Dec 01

Powering Sustainable Growth Through Strategic Investments And Efficiency Gains

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

CEO

Augusto Miranda da Paz Junior

10.5yrs
Tenure

Mr. Augusto Miranda da Paz Júnior is President of Administrative Council of Companhia de Eletricidade do Amapá S.A. He is Director of Equatorial Transmissora 8 SPE S.A. He is a Member of Board of Directors...

Leadership Team

NamePositionTenureCompensationOwnership
Augusto Miranda da Paz Junior
CEO & Member of the Executive Board10.5yrsno datano data
Leonardo da Silva Lucas Tavares de Lima
Member of Executive Board10.5yrsno datano data
Marcos Antonio de Almeida
Member of Executive Board3.6yrsno datano data
Humberto Luis Nogueira
Member of Executive Board8.8yrsno datano data
Cristiano de Lima Logrado
Member of the Executive Board4yrsno datano data
Jose Silva Neto
Member of Executive Board3.8yrsno datano data
Mauricio Alvares da Velloso Ferreira
Member of Executive Board3.8yrsno datano data
José Rodrigues
Member of Executive Board2.4yrsno datano data
Fernanda Sacchi
Member of Executive Boardno datano datano data
Geovane de Lira
Superintendent of Accounting & Taxes Managerno datano datano data
3.9yrs
Average Tenure

Experienced Management: EQTL3's management team is considered experienced (3.9 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Paulo Jerônimo de Mello Pedrosa
Independent Directorno datano datano data
Tinn Amado
Independent Director1.7yrsno datano data
Guilherme Ache
Independent Vice Chairman of the Boardno datano datano data
Dennis Herszkowicz
Independent Director1.6yrsno datano data
Eduardo Parente Menezes
Chairman of the Board2.4yrsno datano data
Vanderlei da Rosa
Member of Fiscal Councilno datano datano data
Luis de Moura Goncalves
Independent Directorno datano datano data
Tiago de Noel
Independent Directorno datano datano data
Maria Garcia Pinheiro
Member of Fiscal Council2.3yrsno datano data
Tania Chocolat
Independent Directorno datano datano data
Saulo de Alves de Lara
Member of Fiscal Council10.1yrsno datano data
2.3yrs
Average Tenure
51yo
Average Age

Experienced Board: EQTL3's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/11 14:25
End of Day Share Price 2026/05/08 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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 17 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Bruno PasconBarclays
Felipe MattarBarclays
Gustavo FariaBofA Global Research