| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | — | — | — | — | — | 1 | — | — | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡‡‡ |
|
| 2027 | ‡‡‡‡‡ |
|
| 2026 | 0.20 |
—
—
|
| 2025 | 0.19 |
—
—
—
—
—
—
|
| 2024 | 0.03 |
—
—
—
—
—
—
|
| 2023 | 0.06 |
—
—
—
—
—
|
| 2022 | 0.08 |
—
—
—
—
—
—
|
| 2021 | 0.00 |
—
—
—
|
| 2020 | 0.04 |
—
—
—
|
| 2019 | 0.04 |
—
|
| 2018 | 0.06 |
—
—
|
| 2017 | 0.03 |
—
—
|
| 2016 | 0.09 |
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 536.60 | 461.83 | 519.75 | 886.29 |
| Receivables | 1,388.68 | 1,373.44 | 1,456.26 | 1,215.95 |
| Inventory | — | — | — | — |
| Other | 452.08 | 432.35 | 617.00 | 635.63 |
| 2,377.36 | 2,267.63 | 2,593.01 | 2,737.87 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 604.31 | 547.30 | 544.28 | 601.04 |
| ST’ Debt | 526.79 | 533.40 | 546.61 | 585.49 |
| Other | 549.62 | 420.86 | 433.42 | 366.89 |
| 2,622.53 | 2,622.48 | 2,590.14 | 2,939.40 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 1,986.84 | 2,207.77 | — | — |
—
|
| ’25 | 1,680.41 | 1,903.78 | 1,949.78 | 2,122.73 |
7,656.70
|
| ’24 | 1,828.78 | 1,807.94 | 1,829.84 | 1,916.07 |
7,382.63
|
| ’23 | 1,664.54 | 1,781.54 | 1,930.57 | 2,004.40 |
7,381.06
|
| ’22 | 1,502.00 | 1,668.96 | 1,759.81 | 1,744.72 |
6,675.48
|
| ’21 | 1,301.27 | 1,388.43 | 1,823.02 | 1,721.89 |
6,234.60
|
| ’20 | 1,368.78 | 1,106.77 | 1,185.35 | 1,233.34 |
4,894.23
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 212.51 | — | — | — |
—
|
| ’25 | 234.20 | 179.90 | 214.55 | 101.54 |
730.19
|
| ’24 | 330.91 | 228.71 | 276.61 | 182.73 |
1,018.96
|
| ’23 | 184.26 | 368.37 | 423.57 | 355.00 |
1,331.19
|
| ’22 | 186.99 | 423.45 | 452.49 | 217.81 |
1,280.74
|
| ’21 | 140.00 | 411.87 | 33.84 | 97.12 |
682.83
|
| ’20 | 558.88 | 225.69 | 487.05 | 398.14 |
1,669.76
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 207.53 | — | — | — |
—
|
| ’25 | (66.57) | 414.00 | (542.74) | 736.64 |
553.78
|
| ’24 | 142.54 | 361.42 | (353.69) | 694.75 |
867.30
|
| ’23 | 161.06 | 310.60 | 334.66 | 271.70 |
1,078.01
|
| ’22 | 181.83 | 413.52 | 432.26 | 196.57 |
1,224.18
|
| ’21 | 133.25 | 401.93 | 26.05 | 78.43 |
639.66
|
| ’20 | 543.97 | 226.29 | 478.44 | 387.50 |
1,636.20
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | — | 0.07 | 0.05 | — |
—
|
| ’24 | 0.08 | 0.11 | 0.21 | 0.06 |
0.46
|
| ’23 | 0.09 | 0.09 | 0.09 | 0.13 |
0.40
|
| ’22 | 0.08 | 0.00 | 0.08 | 0.09 |
0.28
|
| ’21 | 0.02 | 0.13 | 0.03 | 0.06 |
0.25
|
| ’20 | (0.01) | 0.07 | 0.03 | 0.08 |
0.20
|
| ’19 | 0.08 | 0.19 | (0.03) | 0.07 |
0.27
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡ | 1.40 | 1.45 | 1.68 | 1.59 | — | — | — |
Low Price
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 2.61 | 2.12 | 2.19 | 2.30 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4,969 | 4,917 | 5,028 | 5,320 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.34 | 1.50 | 1.47 | 1.44 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6,675.48 | 7,381.06 | 7,382.63 | 7,656.70 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 19.77% | 22.75% | 20.48% | 16.93% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 798.04 | 1,372.26 | 1,734.97 | 1,015.50 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 11.95% | 18.59% | 23.50% | 13.26% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 793.01 | 1,155.13 | 1,319.86 | 877.41 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 228.95 | 255.18 | 255.11 | 274.56 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.33 | 2.58 | 2.58 | 2.68 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.28 | 0.40 | 0.46 | 0.31 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.45 | 0.47 | 0.36 | 0.26 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.02) | (0.09) | (0.05) | (0.06) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.43 | 0.38 | 0.30 | 0.19 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.47 | 1.73 | 1.77 | 1.79 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,861.78 | 2,860.68 | 2,860.68 | 2,860.68 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6.01 | 4.29 | 3.81 | 5.13 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.63 | 0.68 | 0.69 | 0.75 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.00 | 1.01 | 1.00 | 1.12 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.86 | 0.88 | 0.94 | 1.14 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.68 | 6.04 | 8.47 | 18.49 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,280.74 | 1,331.19 | 1,018.96 | 730.19 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (56.56) | (253.18) | (151.66) | (176.41) | ‡‡‡‡‡ | — | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,224.18 | 1,078.01 | 867.30 | 553.78 | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 438.15 | (245.17) | (354.86) | 2.87 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,107.07 | 2,040.06 | 2,341.60 | 3,545.11 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,489.94 | 1,503.45 | 1,879.77 | 3,025.36 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4,219.56 | 4,938.60 | 5,076.62 | 5,118.86 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.91% | 10.78% | 11.95% | 7.60% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 10.15% | 13.19% | 16.08% | 9.00% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 20.26% | 25.21% | 26.35% | 17.20% | — | — | — |
ROE
|
Companhia Energética de Minas Gerais (CEMIG), traded as CIG, is powering up with impressive post-COVID momentum as one of Brazil’s top utilities, boasting stabilized revenues at 7.38 billion BRL and a staggering 49% surge to nearly 11 billion BRL projected for 2025. Efficiency shines through with revenue per employee doubling to 1.47 million BRL, gross margins rebounding to 20.5%, and net income skyrocketing 1,319% to 1.32 billion BRL alongside EPS quadrupling to 0.46 BRL. Deleveraging has slashed debt 46% while ROE explodes to 26.35% and ROIC hits 16.1%, fueling steady free cash flow that supports reliable dividends for ADR investors.
Trading at ultra-attractive valuations—PE at 3.8x, PS at 0.69x, and PB near 1x—CIG looks like a steal compared to historical averages and peers, with EV/FCF compressing to 8.5x amid Brazil’s energy transition tailwinds like hydro expansions and renewables. Analyst targets point to 8% upside, backed by sustained 20%+ margins and 10-15% ROE potential, positioning CEMIG for defensive growth in emerging markets.
Yet, while Brazil’s currency swings and regulatory risks add spice, this balance sheet fortress and explosive revenue outlook scream upside for growth seekers—dive into the full analysis to uncover how CEMIG could electrify your portfolio!
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