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Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp

SBS Utilities Utilities Regulated Water

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp’s revenue for fiscal 2025 (year ended December 2025) was $6.8 billion, up 1.80% from fiscal 2024.

Revenue
+46.4%
EPS
+14.5%
Free cash flow
−154.9%
Total debt
+118.3%

Quarter to June 2026, against a year earlier

4.55 0.07 −1.52%
Market cap
$16.0B
P/E
11.6×
Fwd P/E
13.7×
Dividend yield
0.00%
F-score
3/9
Altman Z
n/a
Beneish M
−2.07
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 0.11
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — 2 1 — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 16,040.00
Revenue ttm 7,225.42
Net income ttm 2,493.26
Free cash flow ttm (659.89)
Net debt Q 6,766.01
Valuation
P/E 11.55
Forward P/E 13.70
Price / sales 2.20
Forward P/S Powerpack
Price / FCF 0.00
Price / book 1.77
Financial health
Current ratio Q 1.47
Debt / equity Q 1.14
Interest coverage Q 3.12
Growth
Revenue growth Q +46.43% (above 0%: growing)
Operating income growth Q +85.58% (above 0%: growing)
EPS, this year −10.07% (below 0%: weak)
EPS, next year A +36.07% (at or above 15%: strong)
Revenue, next year A +308.99% (at or above 10%: strong)
EPS, past 5 yrs +10.25%
EPS, next 5 yrs A +13.19%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.1×, against a ten-year median of 2.4×; over the ten years it ranged from 1.6× in 2018 to 4.5× in 2026.
P/E against its own 10 years 52.37%
10-year low 10-year high
P/S against its own 10 years 84.42%
10-year low 10-year high
P/B against its own 10 years 75.87%
10-year low 10-year high
EV/Sales against its own 10 years 93.00%
10-year low 10-year high

Dividends

Yield
0.00%
Annual rate
0.00
Payout ratio
0.00%
Growth, 2017–25
+7.72%/yr
  1. 0.07 ’17
  2. 0.00 ’18 −100
  3. 0.00 ’19
  4. 0.05 ’20
  5. 0.02 ’21 −68
  6. 0.03 ’22 +124
  7. 0.05 ’23 +49
  8. 0.00 ’24 −100
  9. 0.13 ’25
  10. 0.99 ’26e +676
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 665 1,017 2,217 3,457
Receivables 869 930 1,072 1,179
Inventory 17 2 4 15
Other 7 18 25 68
1,559 1,967 3,323 4,729
2023 2024 2025 Q'26
Payables 91 142 430 527
ST’ Debt 524 581 912 1,047
Other 637 726 1,002 1,320
1,684 2,220 2,965 3,215

Compound Annual Growth %

10y 5y 3y
Sales 6.67% 14.59% 16.89%
Cash Flow 6.38% 9.17% 24.90%
Earnings 24.92% 51.67% 35.84%
Book Value 6.13% 11.42% 12.78%

Earnings Trends EPS, adjusted, against the consensus

Jun 2024 Estimate 0.05 Actual 0.07

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Mar 2019 0.05 0.05 Met by 0.00
Jun 2019 0.05 0.03 Miss by 0.02
Sep 2019 0.04 0.09 Beat by 0.05
Jun 2024 0.05 0.07 Beat by 0.02

EPS $

Mar Jun Sep Dec Year
’26 0.09 0.08 — — —
’25 — 0.11 0.11 — 0.09
’24 0.05 0.07 0.31 0.07 0.51
’23 0.04 0.04 0.05 0.07 0.20
’22 0.05 0.03 0.06 0.04 0.17
’21 0.03 0.04 0.03 0.03 0.12
’20 (0.04) 0.02 0.02 0.04 0.05
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1,892 2,020 — — —
’25 — 1,582 1,730 — 6,822
’24 1,325 1,293 2,704 1,380 6,701
’23 1,097 1,243 1,322 1,460 5,122
’22 932 1,070 1,142 1,128 4,272
’21 856 868 986 902 3,612
’20 913 827 826 887 3,453
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 145 672 — — —
’25 — 561 807 — 1,497
’24 282 325 247 518 1,373
’23 76 230 308 359 972
’22 118 240 132 278 769
’21 191 181 249 104 725
’20 268 268 187 242 966
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (816) (56) — — —
’25 — (203) (962) — (963)
’24 164 111 (499) 102 (116)
’23 (40) 33 150 0 143
’22 (8) 58 (46) 62 67
’21 71 22 50 (111) 31
’20 177 118 (14) 33 317
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 4,042 4,575 4,401 4,557 3,453 3,612 4,272 5,122 6,701 6,822 7,225 +6.0% 27,902 33,336 37,776 +76.9%
Gross margin, % 36.07 39.90 43.51 43.63 37.18 34.33 34.93 37.23 54.07 37.02 37.83 +0.9 pt
EBT 1,184 1,097 1,070 1,185 257 587 828 952 2,529 2,096 2,038 +6.6%
EBT margin, % 29.29 23.98 24.32 26.01 7.45 16.26 19.37 18.59 37.74 30.72 28.21 +1.4 pt
Net income 1,184 1,097 1,070 1,185 257 587 828 952 2,529 2,096 2,493 +6.6%
Per share, $
Per share, $ Revenue 1.15 1.30 1.25 1.30 0.98 1.03 1.21 1.46 1.90 0.40 2.07 (11.1%)
Earnings 0.24 0.23 0.21 0.23 0.05 0.12 0.17 0.20 0.51 0.09 0.39 (10.5%)
Cash flow 0.24 0.29 0.30 0.30 0.27 0.21 0.22 0.28 0.39 0.09 0.63 (10.8%)
Capex (0.17) (0.18) (0.17) (0.24) (0.18) (0.20) (0.20) (0.24) (0.42) (0.14) (0.82) (2.1%)
Free cash flow 0.07 0.12 0.13 0.07 0.09 0.01 0.02 0.04 (0.03) (0.06) (0.19) n/m
Book value 1.26 1.56 1.52 1.56 1.26 1.31 1.50 1.70 1.95 0.44 2.57 (10.9%)
Shares, m 3,519 3,519 3,519 3,519 3,519 3,522 3,519 3,519 3,519 17,090 3,513 +19.2%
Valuation, ×
Valuation, × P/E 7.25 9.41 7.33 12.39 38.48 12.20 11.29 14.89 5.78 7.91 11.55 12.7
P/S 1.53 1.63 1.29 2.32 1.75 1.43 1.59 2.05 1.50 2.26 2.20 1.7
P/B 1.40 1.36 1.06 1.93 1.37 1.12 1.28 1.75 1.47 2.13 1.77 1.5
EV/Sales 2.25 2.30 1.91 2.93 2.51 2.18 2.29 2.68 2.05 2.84 3.13 2.4
EV/FCF 36.48 25.37 18.56 57.11 27.95 254.72 146.87 100.38 (102.08) (11.82) (9.21) 55.4
Cash, $m
Cash, $m Operating cash flow 861 1,034 1,051 1,064 966 725 769 972 1,373 1,497 2,185 +6.3%
Capex (612) (619) (597) (829) (648) (694) (702) (829) (1,489) (2,461) (2,845) +16.7%
Free cash flow 249 415 454 234 317 31 67 143 (116) (963) (660) n/m
Balance, $m
Balance, $m Working capital (137) (62) 56 (395) 105 261 122 (125) (253) 359 1,514 n/m
Net debt 2,882 3,069 2,761 2,779 2,603 2,695 2,978 3,248 3,666 4,972 6,766 +6.2%
Shareholders’ equity 4,421 5,485 5,349 5,483 4,422 4,620 5,295 5,980 6,846 7,594 8,967 +6.2%
Returns, %
Returns, % ROA 8.11 6.89 6.38 7.20 1.75 4.35 5.78 6.03 13.00 9.00 7.21 +0.9 pt
ROIC 8.41 9.07 10.91 10.95 7.75 6.49 6.80 8.61 17.10 11.22 9.24 +2.8 pt
ROE 19.63 15.93 14.32 15.76 3.81 9.45 12.20 12.52 27.69 20.99 17.65 +1.4 pt
People
People Employees 14,137 14,582 14,449 13,945 12,806 12,515 12,299 11,170 10,552 8,678 — (5.3%)
Revenue/emp, $m 0.29 0.31 0.30 0.33 0.27 0.29 0.35 0.46 0.64 0.79 — +11.9%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp vs peers in Utilities Regulated Water (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
AWK American Water Works Company, Inc. $30.4B 26.3× 23.8× +4.07% (above 0%: growing) +0.24% (above 0%: growing) −384.85% (below 0%: shrinking) 100.00% 42.45% Compare
SBS Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $16.0B 11.6× 13.7× +46.43% (above 0%: growing) +14.45% (above 0%: growing) −154.90% (below 0%: shrinking) 37.66% 31.04%
WTRG Essential Utilities Inc. $13.1B 23.1× 19.6× +6.56% (above 0%: growing) +10.61% (above 0%: growing) +231.64% (above 0%: growing) 95.01% 37.91% Compare
AWR American States Water Company $3.5B 24.2× 23.3× +5.37% (above 0%: growing) 0.00% −27.88% (below 0%: shrinking) 0.00% 34.95% Compare
CWT California Water Service Group $3.2B 22.5× 19.2× +6.73% (above 0%: growing) +1.94% (above 0%: growing) −97.13% (below 0%: shrinking) 69.26% 24.89% Compare
HTO H2O America $3.0B 23.9× 20.3× +4.02% (above 0%: growing) −19.23% (below 0%: shrinking) +34.01% (above 0%: growing) 58.72% 24.17% Compare
MSEX Middlesex Water Company $1.1B 21.5× 21.2× +11.30% (above 0%: growing) +23.14% (above 0%: growing) +15.96% (above 0%: growing) 100.00% 36.99% Compare
YORW The York Water Company $522.9M 19.9× 18.8× +22.48% (above 0%: growing) +40.00% (above 0%: growing) +111.16% (above 0%: growing) 100.00% 41.71% Compare
CWCO Consolidated Water Co. Ltd. $425.0M 25.8× 29.6× −2.15% (below 0%: shrinking) −21.88% (below 0%: shrinking) +39.37% (above 0%: growing) 33.35% 11.39% Compare
Median of peers $3.1B 23.5× 20.8× +5.97% +1.09% +24.99% 82.14% 35.97%

All 12 Utilities Regulated Water stocks →

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (SBS) Latest News

14 Aug

Impact 3 · transcript
Impact 3 · · MarketBeat transcript

4 Aug

Impact 4 ·
Impact 4 ·

9 Jun

Impact 3 · · Zacks

15 May

Impact 4 · · MarketBeat

11 May

Impact 4 ·

28 Apr

Impact 4 · · MarketBeat

10 Apr

Impact 4 · · MarketBeat

1 Apr

Impact 4 · · Zacks

23 Mar

Impact 3 · · Simply Wall St.

17 Mar

Impact 4 · · GuruFocus.com
Impact 4 · · Associated Press Finance
Impact 4 · · MarketBeat

12 Dec

Impact 3 · · Simply Wall St.

24 Nov

Impact 4 · · Zacks

13 Nov

Impact 3 · · Zacks

11 Nov

Impact 4 · · GuruFocus.com transcript
Impact 3 · · Associated Press Finance

6 Nov

Impact 4 · · Zacks

28 Oct

Impact 4 · · Zacks

21 Oct

Impact 4 · · Zacks

30 Sep

Impact 3 · · Barrons.com

29 Sep

Impact 4 · · Zacks

24 Sep

Impact 4 ·

23 Sep

Impact 4 · · ZacksZacksZacksZacks

19 Sep

Impact 4 ·

8 Sep

Impact 4 ·

2 Sep

Impact 3 · · Investor's Business Daily

12 Aug

Impact 3 ·

SBS metrics, ten years each

stockrow.com/SBS · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com