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Light

OTCPK:LGSX.Y
Snowflake Description

Fair value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
LGSX.Y
OTCPK
R$4B
Market Cap
  1. Home
  2. US
  3. Utilities
Company description

Light S.A., through its subsidiaries, engages in the generation, transmission, distribution, and sale of electric power in Brazil. The last earnings update was 18 days ago. More info.


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LGSX.Y Share Price and Events
7 Day Returns
0%
OTCPK:LGSX.Y
-1.7%
US Electric Utilities
-0.8%
US Market
1 Year Returns
3.4%
OTCPK:LGSX.Y
12.6%
US Electric Utilities
7%
US Market
LGSX.Y Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Light (LGSX.Y) 0% -6.8% 4.4% 3.4% 101.2% -39.7%
US Electric Utilities -1.7% -1.8% 8.3% 12.6% 20.1% 32.7%
US Market -0.8% 2.7% 7.5% 7% 37.9% 47%
1 Year Return vs Industry and Market
  • LGSX.Y underperformed the Electric Utilities industry which returned 12.6% over the past year.
  • LGSX.Y underperformed the Market in United States of America which returned 7% over the past year.
Price Volatility
LGSX.Y
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Light's competitors could be found in our database.

LGSX.Y Value

 Is Light undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Light to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Light.

OTCPK:LGSX.Y Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:LGSX.Y
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Electric Utilities Unlevered Beta Simply Wall St/ S&P Global 0.24
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.242 (1 + (1- 34%) (238.36%))
0.746
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for OTCPK:LGSX.Y using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Light is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

OTCPK:LGSX.Y DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (BRL, Millions) Source Present Value
Discounted (@ 7.5%)
2019 962.50 Analyst x2 895.37
2020 1,268.00 Analyst x2 1,097.28
2021 676.00 Analyst x2 544.18
2022 393.14 Est @ -41.84% 294.41
2023 281.21 Est @ -28.47% 195.90
2024 227.47 Est @ -19.11% 147.41
2025 198.90 Est @ -12.56% 119.90
2026 183.04 Est @ -7.97% 102.65
2027 174.33 Est @ -4.76% 90.94
2028 169.95 Est @ -2.51% 82.47
Present value of next 10 years cash flows R$3,570.51
OTCPK:LGSX.Y DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= R$169.95 × (1 + 2.73%) ÷ (7.5% – 2.73%)
R$3,661.63
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= R$3,661.63 ÷ (1 + 7.5%)10
R$1,776.93
OTCPK:LGSX.Y Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= R$3,570.51 + R$1,776.93
R$5,347.44
Equity Value per Share
(BRL)
= Total value / Shares Outstanding
= R$5,347.44 / 203.93
R$26.22
OTCPK:LGSX.Y Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:LGSX.Y represents 0.24784x of BOVESPA:LIGT3
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.24784x
Value per Share
(Listing Adjusted, USD)
= Value per Share (BRL) x Listing Adjustment Factor
= R$ 26.22 x 0.24784
$6.50
Value per share (USD) From above. $6.50
Current discount Discount to share price of $5.17
= -1 x ($5.17 - $6.50) / $6.50
20.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Light is available for.
Intrinsic value
20%
Share price is $5.17 vs Future cash flow value of $6.5
Current Discount Checks
For Light to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Light's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Light's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Light's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Light's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:LGSX.Y PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in BRL R$0.81
BOVESPA:LIGT3 Share Price ** BOVESPA (2019-04-12) in BRL R$20.86
United States of America Electric Utilities Industry PE Ratio Median Figure of 25 Publicly-Listed Electric Utilities Companies 22.12x
United States of America Market PE Ratio Median Figure of 3,080 Publicly-Listed Companies 18.21x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Light.

OTCPK:LGSX.Y PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BOVESPA:LIGT3 Share Price ÷ EPS (both in BRL)

= 20.86 ÷ 0.81

25.66x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Light is overvalued based on earnings compared to the US Electric Utilities industry average.
  • Light is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Light's expected growth come at a high price?
Raw Data
OTCPK:LGSX.Y PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 25.66x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
37.3%per year
United States of America Electric Utilities Industry PEG Ratio Median Figure of 23 Publicly-Listed Electric Utilities Companies 2.88x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

OTCPK:LGSX.Y PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 25.66x ÷ 37.3%

0.69x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Light is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Light's assets?
Raw Data
OTCPK:LGSX.Y PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in BRL R$16.62
BOVESPA:LIGT3 Share Price * BOVESPA (2019-04-12) in BRL R$20.86
United States of America Electric Utilities Industry PB Ratio Median Figure of 29 Publicly-Listed Electric Utilities Companies 2.06x
United States of America Market PB Ratio Median Figure of 5,186 Publicly-Listed Companies 1.91x
OTCPK:LGSX.Y PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BOVESPA:LIGT3 Share Price ÷ Book Value per Share (both in BRL)

= 20.86 ÷ 16.62

1.26x

* Primary Listing of Light.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Light is good value based on assets compared to the US Electric Utilities industry average.
X
Value checks
We assess Light's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electric Utilities industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electric Utilities industry average (and greater than 0)? (1 check)
  5. Light has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

LGSX.Y Future Performance

 How is Light expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
37.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Light expected to grow at an attractive rate?
  • Light's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Light's earnings growth is expected to exceed the United States of America market average.
  • Light's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:LGSX.Y Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:LGSX.Y Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 37.3%
OTCPK:LGSX.Y Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 2.6%
United States of America Electric Utilities Industry Earnings Growth Rate Market Cap Weighted Average 9.9%
United States of America Electric Utilities Industry Revenue Growth Rate Market Cap Weighted Average 2.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.5%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:LGSX.Y Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in BRL Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:LGSX.Y Future Estimates Data
Date (Data in BRL Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 12,825 632 4
2020-12-31 12,427 1,286 623 7
2019-12-31 11,652 891 428 8
OTCPK:LGSX.Y Past Financials Data
Date (Data in BRL Millions) Revenue Cash Flow Net Income *
2018-12-31 11,971 41 166
2018-09-30 12,490 -230 165
2018-06-30 12,107 -134 218
2018-03-31 11,600 -187 192
2017-12-31 11,315 26 124
2017-09-30 10,322 -236 -161
2017-06-30 9,922 218 -282
2017-03-31 9,740 727 -290
2016-12-31 9,645 1,143 -313
2016-09-30 10,076 2,224 -190
2016-06-30 10,145 2,097 -90
2016-03-31 10,351 1,391 -89

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Light's earnings are expected to grow significantly at over 20% yearly.
  • Light's revenue is expected to grow by 2.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:LGSX.Y Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Light Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:LGSX.Y Future Estimates Data
Date (Data in BRL Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 3.82 3.83 3.80 2.00
2020-12-31 3.46 3.98 3.00 5.00
2019-12-31 2.10 2.31 1.88 3.00
OTCPK:LGSX.Y Past Financials Data
Date (Data in BRL Millions) EPS *
2018-12-31 0.81
2018-09-30 0.81
2018-06-30 1.07
2018-03-31 0.94
2017-12-31 0.61
2017-09-30 -0.79
2017-06-30 -1.38
2017-03-31 -1.42
2016-12-31 -1.53
2016-09-30 -0.93
2016-06-30 -0.44
2016-03-31 -0.44

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Light is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Light's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Light has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

LGSX.Y Past Performance

  How has Light performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Light's growth in the last year to its industry (Electric Utilities).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Light's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Light's 1-year earnings growth exceeds its 5-year average (33.5% vs -42.1%)
  • Light's earnings growth has exceeded the US Electric Utilities industry average in the past year (33.5% vs 8.5%).
Earnings and Revenue History
Light's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Light Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:LGSX.Y Past Revenue, Cash Flow and Net Income Data
Date (Data in BRL Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 11,970.55 165.78 895.43
2018-09-30 12,490.34 164.65 875.63
2018-06-30 12,107.21 217.99 780.56
2018-03-31 11,599.87 192.34 907.16
2017-12-31 11,314.56 124.22 872.49
2017-09-30 10,321.67 -160.90 874.39
2017-06-30 9,921.57 -282.38 941.24
2017-03-31 9,739.64 -289.73 821.72
2016-12-31 9,645.24 -312.94 738.11
2016-09-30 10,076.28 -190.05 820.90
2016-06-30 10,145.26 -90.43 786.39
2016-03-31 10,351.06 -89.28 688.29
2015-12-31 10,912.67 37.84 684.11
2015-09-30 11,344.26 628.98 623.76
2015-06-30 10,715.65 538.28 615.28
2015-03-31 10,080.28 610.86 579.09
2014-12-31 9,200.83 662.83 584.00
2014-09-30 7,987.55 271.71 650.23
2014-06-30 7,833.35 646.27 667.55
2014-03-31 7,782.64 689.21 713.14
2013-12-31 7,422.26 587.34 706.86
2013-09-30 7,123.06 618.29 698.03
2013-06-30 7,170.41 380.95 649.33
2013-03-31 7,205.47 362.51 671.64
2012-12-31 7,182.36 423.92 724.07
2012-09-30 7,230.64 395.87 708.29
2012-06-30 7,161.00 310.15 774.52

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Light has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Light used its assets less efficiently than the US Electric Utilities industry average last year based on Return on Assets.
  • Light's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Light's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electric Utilities industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Light has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

LGSX.Y Health

 How is Light's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Light's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Light is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Light's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Light's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Light Company Filings, last reported 3 months ago.

OTCPK:LGSX.Y Past Debt and Equity Data
Date (Data in BRL Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 3,389.49 10,140.13 1,683.84
2018-09-30 3,336.51 9,950.96 1,394.74
2018-06-30 3,330.38 10,132.94 1,951.08
2018-03-31 3,355.83 7,674.92 213.68
2017-12-31 3,432.47 7,512.27 342.28
2017-09-30 3,371.02 7,128.52 278.56
2017-06-30 3,311.59 6,916.84 279.18
2017-03-31 3,385.18 7,076.70 702.13
2016-12-31 3,353.80 7,037.41 681.77
2016-09-30 3,548.37 6,865.24 951.89
2016-06-30 3,606.58 6,838.38 622.66
2016-03-31 3,658.60 7,294.81 645.60
2015-12-31 3,665.06 7,575.11 522.12
2015-09-30 3,737.47 7,915.38 145.29
2015-06-30 3,699.87 7,349.13 112.92
2015-03-31 3,757.17 7,127.03 641.27
2014-12-31 3,628.63 6,599.07 505.84
2014-09-30 3,287.02 6,916.72 376.19
2014-06-30 3,340.11 6,859.21 1,579.05
2014-03-31 3,657.65 6,070.27 694.39
2013-12-31 3,477.14 5,815.31 546.43
2013-09-30 3,392.24 5,955.12 1,787.34
2013-06-30 3,070.77 6,101.29 2,037.31
2013-03-31 3,104.33 4,487.03 435.93
2012-12-31 3,025.68 4,243.61 230.36
2012-09-30 3,232.45 4,818.90 1,176.68
2012-06-30 3,219.71 4,055.02 538.44
  • Light's level of debt (299.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (167.2% vs 299.2% today).
  • Debt is not well covered by operating cash flow (0.4%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.4x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Light's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Light has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

LGSX.Y Dividends

 What is Light's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.93%
Current annual income from Light dividends. Estimated to be 4.25% next year.
If you bought $2,000 of Light shares you are expected to receive $19 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Light's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.39%).
  • Light's dividend is below the markets top 25% of dividend payers in United States of America (3.62%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:LGSX.Y Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
United States of America Electric Utilities Industry Average Dividend Yield Market Cap Weighted Average of 27 Stocks 3.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:LGSX.Y Future Dividends Estimate Data
Date (Data in R$) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.14 3.00
2020-12-31 0.94 6.00
2019-12-31 0.52 3.00
OTCPK:LGSX.Y Past Annualized Dividends Data
Date (Data in R$) Dividend per share (annual) Avg. Yield (%)
2019-04-05 0.193 0.941
2018-03-28 0.145 0.962
2018-03-27 0.000 0.000
2017-11-14 0.000 0.000
2017-11-13 0.000 0.000
2017-08-10 0.000 0.000
2017-05-16 0.000 0.000
2017-03-27 0.000 0.000
2016-03-29 0.049 0.361
2016-03-28 0.049 0.486
2015-03-09 0.772 6.479
2014-03-11 2.316 12.237
2014-03-10 2.316 14.582
2013-03-26 1.710 9.243
2013-03-25 1.713 9.023
2012-05-11 1.900 8.367
2011-11-10 2.020 7.465
2011-03-25 1.721 6.324
2010-02-11 2.120 9.073
2010-02-10 2.120 8.027
2009-11-06 0.000 0.000
2009-08-07 0.000 0.000
2009-04-24 5.260 21.125

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Light's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.7x coverage).
X
Income/ dividend checks
We assess Light's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Light afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Light has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

LGSX.Y Management

 What is the CEO of Light's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Luís Fernando Santos
AGE 47
TENURE AS CEO 1.8 years
CEO Bio

Mr. Luís Fernando Paroli Santos has been the Chief Executive Officer of Light S.A. since June 28, 2017 and serves as Member of Board of Executive Officers. Mr. Paroli served as Chief Business Development and Investor Relations Officer at Light S.A. until July 24, 2017. Mr. Paroli served as the Chief Institutional Relations and Communication Officer at CEMIG Distribuição S.A. until July 17, 2017 and served as its Member of Executive Board and Chief Energy Distribution & Commercialization Officer since September 14, 2016 and November 9, 2016 respectively and Director since March 15, 2017. He has been Chief Executive Officer of Fundação COGE since November 2014. Mr. Santos served as Chief Institutional Relations & Communications Officer and Member of Executive Board at Cemig Geração e Transmissão S.A. since May 03, 2016 until July 14, 2017 and its Chief Energy Distribution & Commercialization Officer since January 18, 2017 until July 14, 2017. Mr. Santos served as Chief Officer at Cemig Geração e Transmissão S.A. He served as Chief Institutional Relations & Communication Officer and Member of Executive Board at Companhia Energética de Minas Gerais S.A. from February 11, 2016 to July 7, 2017 and served as its Chief Corporate Management Officer since July 7, 2016 until July 21, 2016. He has been Proprietor of Capoeira Grande Farm in Elói Mendes, Minas Gerais since 2004, handling its financial administration and fund management. He served as Chief Corporate Management Officer at CEMIG Distribuição S.A. until September 14, 2016. Mr. Santos served as Corporate Management Officer at FURNAS Centrais Elétricas SA and its Member of Executive Board until March 24, 2016. He served as Director of Administration at FURNAS Centrais Elétricas SA until March 24, 2016. He served as Chief Administrative Officer of Furnas Centrais Elétricas S.A. from 2008 to January 2016 and from January 2016 to March 2016, he served as Advisor on Corporate Communication to the Chief Executive Officer of Cemig. He was Chairman of the Board of Directors of Fundação COGE, from January 2015 to December 2016. He was Deputy Chairman of Fundação COGE from 2011 to 2014. He serves as Director of Light S.A. He has been a Director of Capoeira Grande Farm in Elói Mendes, Minas Gerais since 2004. He served on the Board of Directors of Retiro Baixo Energética S.A. from May 12, 2010 to April 2012; Companhia Transleste de Transmissão from April 30, 2010 to March 29, 2012 and Companhia Transirapé de Transmissão, Companhia Transudeste de Transmissão, Companhia de Transmissão Centroeste de Minas and Companhia de Transmissão Furnas-Pimenta II from April 26, 2011 to March 29, 2012. From 2011 to 2014, he was Vice-President of the COGE Foundation and in November 2014, Mr. Santos was elected President of the Foundation and Chair of the Governing Council until December 2015. He has a degree in Civil Engineering. Mr. Santos has a degree in Computer Sciences and Systems Analysis from Pontifícia Universidade Católica de Minas Gerais.

CEO Compensation
  • Insufficient data for Luís Fernando to compare compensation growth.
  • Insufficient data for Luís Fernando to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure of the Light management team in years:

4.2
Average Tenure
  • The tenure for the Light management team is about average.
Management Team

Luís Fernando Santos

TITLE
CEO, Member of Board of Executive Officer & Director
AGE
47
TENURE
1.8 yrs

Roberto Barroso

TITLE
CFO & Member of Board of Executive Officer

Luis de Almeida Guimarães

TITLE
Chief Energy Officer & Member of Board of Executive Officers
TENURE
4.2 yrs

Fernando Antônio Reis

TITLE
Chief Legal Officer & Member of Board of Executive Officer
TENURE
6.7 yrs

Wilson Oliveira

TITLE
Chief Commercial Officer & Member of Board of Executive Officers

Ronald de Freitas

TITLE
Chief Communications Officer & Member of Board of Executive Officer

Dalmer de Souza

TITLE
Chief Engineering Officer & Member of Board of Executive Officer

Simone da Silva Cerutti de Azevedo

TITLE
Accounting Manager

Marco Antonio de Oliveira

TITLE
Chief Commercial Officer

Eduardo Reis

TITLE
Controllership Superintendent
Board of Directors Tenure

Average tenure and age of the Light board of directors in years:

4.2
Average Tenure
63
Average Age
  • The tenure for the Light board of directors is about average.
Board of Directors

Nelson José Moreira

TITLE
Chairman of the Board
AGE
64
TENURE
4.2 yrs

Luís Fernando Santos

TITLE
CEO, Member of Board of Executive Officer & Director
AGE
47

Mauro Lemos

TITLE
Vice Chairman

Marcello Siqueira

TITLE
Director
AGE
81

Marco de Rezende Teixeira

TITLE
Director
AGE
62

Sérgio Malta

TITLE
Director

Yuri Fonseca Ramos

TITLE
Director
TENURE
0.3 yrs

Raphael Martins

TITLE
Member of Fiscal Council
TENURE
5 yrs

Rogério Bezerra

TITLE
Member of Finance Committee & Member of Audit Committee
TENURE
4.2 yrs

Edson Monteiro

TITLE
Member of Fiscal Council
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Light's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Light has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

LGSX.Y News

Simply Wall St News

LGSX.Y Company Info

Description

Light S.A., through its subsidiaries, engages in the generation, transmission, distribution, and sale of electric power in Brazil. The company generates power through solar, wind, and hydro power plants. It operates in 31 cities of the state of Rio de Janeiro covering a population of approximately 11 million customers. The company also engages in the purchase, sale, import, and export of electric and thermal power, gas, and industrial utilities; and provision of energy related advisory services. It serves residential, industrial, commercial, rural, and public sector customers. The company was founded in 1899 and is headquartered in Rio de Janeiro, Brazil.

Details
Name: Light S.A.
LGSX.Y
Exchange: OTCPK
Founded: 1899
R$1,083,313,680
203,934,060
Website: http://www.light.com.br
Address: Light S.A.
Rua Marechal Floriano, nº 168,
bloco 1 – 2º andar,
Rio de Janeiro,
Rio de Janeiro, 20080-002,
Brazil
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BOVESPA LIGT3 Ordinary Shares Bolsa de Valores de Sao Paulo BR BRL 22. Feb 2006
OTCPK LGSX.Y SPONS ADR EACH REPR 1 ORD Pink Sheets LLC US USD 13. Nov 2008
BST 5LIA SPONS ADR EACH REPR 1 ORD Boerse-Stuttgart DE EUR 13. Nov 2008
Number of employees
Current staff
Staff numbers
4,515
Light employees.
Industry
Electric Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 00:21
End of day share price update: 2019/04/12 00:00
Last estimates confirmation: 2019/04/16
Last earnings filing: 2019/04/05
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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 here.