Saturday 17 October 2026
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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. In the quarter to June 2026, revenue grew 46.4%, EPS grew 14.5%, free cash flow fell 154.9% and total debt rose 118.3%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three.
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
7.92 | 5.80 | 14.94 | 11.35 | 12.20 | 38.48 | 12.39 | 7.33 | 9.41 | 7.25 |
Piotroski F-Score |
3 | 6 | 7 | 7 | 6 | 4 | 8 | 7 | 8 | 7 |
P/S ratio |
2.27 | 1.51 | 2.05 | 1.60 | 1.43 | 1.75 | 2.32 | 1.29 | 1.63 | 1.53 |
P/FCF ratio |
0.00 | 0.00 | 76.89 | 102.63 | 167.53 | 19.55 | 45.24 | 12.48 | 17.97 | 24.89 |
P/Operating CF |
20.78 | 19.49 | 29.35 | 24.53 | 49.99 | 24.98 | 35.31 | 21.21 | 25.35 | 26.33 |
Beneish M-Score |
(2.07) | (2.40) | (2.37) | (2.43) | (2.35) | (3.05) | (2.59) | (2.61) | (2.38) | (2.79) |
Dividend Safety Score |
41 | — | — | — | — | — | — | — | — | — |
P/B ratio |
2.14 | 1.48 | 1.76 | 1.29 | 1.12 | 1.37 | 1.93 | 1.06 | 1.36 | 1.40 |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Sales |
2.84 | 2.05 | 2.69 | 2.30 | 2.18 | 2.51 | 2.93 | 1.91 | 2.30 | 2.25 |
EV/EBITDA |
5.88 | 4.08 | 7.52 | 7.13 | 6.69 | 6.83 | 7.04 | 4.69 | 6.39 | 6.92 |
EV/Operating CF |
9.86 | 10.03 | 14.16 | 12.76 | 10.86 | 8.96 | 12.57 | 8.01 | 10.18 | 10.54 |
EV/FCF |
(11.84) | (102.34) | 100.63 | 147.40 | 254.72 | 27.95 | 57.11 | 18.56 | 25.37 | 36.48 |
Quick Ratio |
1.11 | 0.88 | 0.91 | 1.07 | 1.24 | 1.06 | 0.75 | 1.03 | 0.94 | 0.88 |
Current Ratio |
1.12 | 0.89 | 0.93 | 1.09 | 1.28 | 1.09 | 0.76 | 1.04 | 0.96 | 0.89 |
Net Debt/EBITDA |
1.87 | 1.09 | 1.77 | 2.17 | 2.29 | 2.05 | 1.46 | 1.54 | 1.86 | 2.20 |
Debt/Assets |
38.52% | 31.20% | 31.78% | 33.14% | 33.34% | 34.23% | 28.51% | 30.19% | 30.60% | 32.56% |
Debt/Equity |
0.95 | 0.68 | 0.65 | 0.69 | 0.71 | 0.76 | 0.61 | 0.67 | 0.69 | 0.78 |
Asset Turnover |
0.41 | 0.49 | 0.44 | 0.41 | 0.37 | 0.32 | 0.38 | 0.36 | 0.40 | 0.39 |
Operating CF/Net income |
0.99 | 0.77 | 1.38 | 1.27 | 1.70 | 5.11 | 1.25 | 1.36 | 1.31 | 1.02 |
Capex/Depreciation |
(6.22) | (3.00) | (1.48) | (1.48) | (1.66) | (1.64) | (1.84) | (1.57) | (1.52) | (1.86) |
Interest Coverage |
14.03 | 5.74 | 2.34 | 2.37 | 2.83 | 3.39 | 4.87 | 6.41 | 5.76 | 4.08 |
| 20.99% | 27.69% | 12.52% | 12.20% | 9.45% | 3.81% | 15.76% | 14.32% | 15.93% | 19.63% | |
| 9.00% | 13.00% | 6.03% | 5.78% | 4.35% | 1.75% | 7.20% | 6.38% | 6.89% | 8.11% | |
ROIC |
11.22% | 17.10% | 8.61% | 6.80% | 6.49% | 7.75% | 10.95% | 10.91% | 9.07% | 8.41% |
Return on Tangible Assets |
292.36% | (1,194.71%) | (2,351.62%) | 323.03% | 135.54% | 120.32% | (270.94%) | 601.65% | 4,400.30% | (1,669.83%) |
Average Days of Receivables |
57.35 | 50.64 | 61.95 | 58.11 | 58.89 | 49.11 | 51.68 | 56.17 | 54.63 | 48.03 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
4.62% | 8.93% | 10.10% | 10.48% | 10.00% | 10.13% | 11.07% | 10.51% | 12.79% | 11.81% |
Intangible Assets out of Total Assets |
0.48 | 0.55 | 0.72 | 0.69 | 0.69 | 0.68 | 0.70 | 0.67 | 0.85 | 0.85 |
Share Based Compensation of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Graham Net Nets |
(0.40) | (0.61) | (0.45) | (0.64) | (0.78) | (0.68) | (0.48) | (0.89) | (0.73) | (0.81) |
Graham Number |
4.52 | 4.66 | 2.77 | 2.41 | 1.89 | 1.12 | 2.92 | 2.74 | 2.81 | 2.62 |
Earnings Yield |
12.62% | 17.25% | 6.69% | 8.81% | 8.20% | 2.60% | 8.07% | 13.63% | 10.63% | 13.80% |
Free Cash Flow Yield |
(10.59%) | (1.33%) | 1.30% | 0.97% | 0.60% | 5.12% | 2.21% | 8.02% | 5.56% | 4.02% |
Revenue per Share |
0.40 | 1.90 | 1.46 | 1.21 | 1.03 | 0.98 | 1.30 | 1.25 | 1.30 | 1.15 |
Operating CF per Share |
0.09 | 0.39 | 0.28 | 0.22 | 0.21 | 0.27 | 0.30 | 0.30 | 0.29 | 0.24 |
Capex per Share |
(0.14) | (0.42) | (0.24) | (0.20) | (0.20) | (0.18) | (0.24) | (0.17) | (0.18) | (0.17) |
Free Cash Flow per Share |
(0.06) | (0.03) | 0.04 | 0.02 | 0.01 | 0.09 | 0.07 | 0.13 | 0.12 | 0.07 |
Cash per Share |
0.13 | 0.29 | 0.19 | 0.20 | 0.17 | 0.21 | 0.16 | 0.24 | 0.20 | 0.16 |
Shareholders Equity per Share |
0.44 | 1.95 | 1.70 | 1.50 | 1.31 | 1.26 | 1.56 | 1.52 | 1.56 | 1.26 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
0.44 | 1.95 | 1.70 | 1.50 | 1.31 | 1.26 | 1.56 | 1.52 | 1.56 | 1.26 |
Free Cash Flow |
(963.43) | (116.08) | 143.37 | 66.52 | 30.91 | 317.41 | 234.10 | 454.10 | 415.05 | 248.80 |
Working Capital |
358.84 | (252.77) | (125.07) | 121.51 | 261.29 | 104.90 | (394.62) | 55.71 | (61.95) | (137.29) |
Capital Expenditures |
(2,460.90) | (1,488.89) | (828.96) | (702.01) | (694.31) | (648.36) | (829.48) | (597.32) | (619.10) | (612.33) |
Net Current Asset Value |
(7,745.20) | (6,197.65) | (4,773.17) | (4,375.60) | (4,026.69) | (4,109.71) | (5,049.22) | (5,037.30) | (5,468.27) | (5,017.88) |
EV/EBIT |
6.63 | 4.79 | 10.83 | 10.90 | 10.37 | 9.93 | 9.24 | 5.95 | 8.49 | 9.23 |
Capex to Sales |
0.36 | 0.22 | 0.16 | 0.16 | 0.19 | 0.19 | 0.18 | 0.14 | 0.14 | 0.15 |
Price to Operating Income |
5.29 | 3.51 | 8.28 | 7.59 | 6.82 | 6.94 | 7.32 | 4.00 | 6.01 | 6.30 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
2.48 | 4.77 | 5.88 | 7.23 | 7.74 | 7.59 | 5.66 | 5.20 | 5.10 | 3.79 |
Cash ROIC |
(5.67%) | (0.93%) | 1.36% | 0.69% | 0.36% | 3.73% | 2.49% | 4.64% | 4.15% | 2.96% |
Accounts Receivable Turnover |
6.82 | 7.45 | 6.61 | 6.77 | 6.90 | 6.22 | 6.89 | 6.46 | 7.52 | 7.65 |
Accounts Payable Turnover |
15.02 | 26.36 | 36.78 | 43.66 | 49.91 | 29.95 | 23.23 | 21.11 | 27.85 | 31.28 |
Inventory Turnover |
1,442.69 | 320.10 | 155.72 | 123.27 | 114.66 | 113.57 | 143.51 | 111.04 | 126.53 | 142.81 |
Average Days of Payables |
36.51 | 16.85 | 10.37 | 10.96 | 6.75 | 8.61 | 13.31 | 18.72 | 14.34 | 12.63 |
Days of Inventory on Hand |
0.34 | 0.24 | 1.96 | 3.16 | 3.24 | 3.42 | 2.54 | 2.64 | 3.56 | 2.35 |
Average Receivables |
1,000.85 | 899.55 | 774.74 | 631.44 | 523.66 | 554.93 | 661.29 | 681.07 | 608.38 | 528.20 |
Average Payables |
285.99 | 116.75 | 87.43 | 63.67 | 47.52 | 72.42 | 110.58 | 117.77 | 98.74 | 82.60 |
Average Inventory |
2.98 | 9.62 | 20.65 | 22.55 | 20.69 | 19.10 | 17.90 | 22.39 | 21.73 | 18.09 |
Average Assets |
16,836.85 | 13,661.81 | 11,696.89 | 10,466.35 | 9,816.39 | 10,776.81 | 11,845.92 | 12,152.69 | 11,460.38 | 10,412.72 |
Average Common Equity |
7,220.25 | 6,413.45 | 5,637.47 | 4,957.19 | 4,520.93 | 4,952.24 | 5,415.92 | 5,417.21 | 4,952.88 | 4,304.18 |
Columns are period end dates