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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Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (SBS) Piotroski F-score
Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp's Piotroski F-score for fiscal 2025 is 3 out of 9: 3 of nine tests of profitability, leverage and efficiency passed, down from 6 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 3 | (3.00) |
| FY2024 | 6 | (1.00) |
| FY2023 | 7 | 0.00 |
| FY2022 | 7 | 1.00 |
| FY2021 | 6 | 2.00 |
| FY2020 | 4 | (4.00) |
| FY2019 | 8 | 1.00 |
| FY2018 | 7 | (1.00) |
| FY2017 | 8 | 1.00 |
| FY2016 | 7 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 9.00% | 13.00% | Pass | 1 |
| Positive operating cash flow | 1.50b | 1.37b | Pass | 1 |
| Rising return on assets | 9.00% | 13.00% | Fail | 0 |
| Cash flow above net income | (18.08m) | (403.24m) | Fail | 0 |
| Falling long-term leverage | 0.37 | 0.30 | Fail | 0 |
| Rising current ratio | 1.12 | 0.89 | Pass | 1 |
| No new shares issued | 17,089,780,000 | 3,518,710,000 | Fail | 0 |
| Rising gross margin | 37.02% | 54.07% | Fail | 0 |
| Rising asset turnover | 0.41 | 0.49 | Fail | 0 |
| Piotroski F-score | Weak — most fundamentals deteriorated | 3 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| AWK American Water Works Company, Inc. compare | 7 |
| WTRG Essential Utilities Inc. compare | 5 |
| AWR American States Water Company compare | 5 |
| HTO H2O America compare | 5 |
| CWCO Consolidated Water Co. Ltd. compare | 5 |
| CWT California Water Service Group compare | 4 |
| SBS Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp | 3 |
| YORW The York Water Company compare | 3 |
| MSEX Middlesex Water Company compare | 3 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover