Stock CIG.C COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG
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Financials Companhia Energética de Minas Gerais - CEMIG Nyse

Equities

CIG.C

US2044098828

Electric Utilities

Market Closed - Nyse
Other stock markets
 01:40:00 01/06/2024 am IST 		5-day change 1st Jan Change
2.3 USD -3.77% Intraday chart for Companhia Energética de Minas Gerais - CEMIG -6.50% -5.08%
14/05 Transcript : Companhia Energética de Minas Gerais - CEMIG, Q1 2024 Earnings Call, May 14, 2024
10/05 Companhia Energética de Minas Gerais - CEMIG Reports Earnings Results for the First Quarter Ended March 31, 2024 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 20,986 23,039 25,254 28,200 27,948 30,501 - -
Enterprise Value (EV) 1 34,473 39,784 40,170 41,253 27,948 38,092 42,461 45,248
P/E ratio 6.44 x 7.7 x 5.91 x 5.99 x 4.38 x 6.04 x 6.26 x 6.29 x
Yield 3.77% 6.73% 8.85% 9.07% - 9.04% 8.22% 8.38%
Capitalization / Revenue 0.83 x 0.91 x 0.75 x 0.82 x 0.76 x 0.89 x 0.84 x 0.83 x
EV / Revenue 1.36 x 1.58 x 1.19 x 1.2 x 0.76 x 1.11 x 1.17 x 1.23 x
EV / EBITDA 7.88 x 8.16 x 6.77 x 5.95 x 3.46 x 4.89 x 5.38 x 5.82 x
EV / FCF 17.5 x 5.63 x 11.5 x 6.41 x - 11.7 x -181 x -174 x
FCF Yield 5.7% 17.8% 8.72% 15.6% - 8.56% -0.55% -0.57%
Price to Book 1.27 x 1.27 x 1.14 x 1.13 x - 1.06 x 0.97 x 0.9 x
Nbr of stocks (in thousands) 28,60,712 28,60,701 28,60,682 28,60,682 28,60,682 28,60,682 - -
Reference price 2 7.029 7.727 7.757 8.569 8.831 9.950 9.950 9.950
Announcement Date 20/03/20 26/03/21 29/03/22 25/03/23 21/03/24 - - -
1BRL in Million2BRL
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 25,390 25,228 33,646 34,463 36,850 34,365 36,255 36,856
EBITDA 1 4,376 4,875 5,933 6,928 8,078 7,785 7,890 7,769
EBIT 1 3,109 3,886 4,884 5,746 6,804 6,513 6,457 6,279
Operating Margin 12.25% 15.4% 14.52% 16.67% 18.47% 18.95% 17.81% 17.04%
Earnings before Tax (EBT) 1 4,470 3,801 4,698 4,121 6,851 6,204 6,031 5,977
Net income 1 3,127 2,864 3,751 4,092 5,764 4,587 4,450 4,230
Net margin 12.32% 11.35% 11.15% 11.87% 15.64% 13.35% 12.27% 11.48%
EPS 2 1.091 1.003 1.314 1.431 2.015 1.648 1.590 1.583
Free Cash Flow 1 1,967 7,072 3,505 6,440 - 3,259 -235 -260
FCF margin 7.75% 28.03% 10.42% 18.69% - 9.48% -0.65% -0.71%
FCF Conversion (EBITDA) 44.94% 145.06% 59.07% 92.95% - 41.86% - -
FCF Conversion (Net income) 62.88% 246.9% 93.43% 157.36% - 71.04% - -
Dividend per Share 2 0.2651 0.5201 0.6864 0.7769 - 0.8992 0.8182 0.8334
Announcement Date 20/03/20 26/03/21 29/03/22 25/03/23 21/03/24 - - -
1BRL in Million2BRL
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 9,657 7,847 8,213 9,223 9,753 8,647 8,820 9,427 9,957 9,058 9,040 9,970 9,214 7,429 9,286
EBITDA 1,396 1,916 1,809 1,535 1,658 2,073 1,878 1,965 2,163 1,991 - - - 1,414 1,767
EBIT 1,131 1,448 1,521 1,237 1,346 1,770 1,575 1,645 1,811 1,662 - - - 1,227 1,534
Operating Margin 11.71% 18.46% 18.52% 13.42% 13.8% 20.47% 17.86% 17.45% 18.19% 18.35% - - - 16.52% 16.52%
Earnings before Tax (EBT) 1 1,058 1,947 -805.3 1,392 1,587 1,753 1,615 1,480 1,722 1,502 2,341 1,674 1,541 1,201 1,501
Net income 1 962 1,455 49.52 1,182 1,406 1,398 1,245 1,237 1,885 1,152 1,668 1,239 1,149 930.5 1,163
Net margin 9.96% 18.54% 0.6% 12.81% 14.41% 16.16% 14.11% 13.13% 18.94% 12.72% 18.45% 12.43% 12.47% 12.52% 12.52%
EPS 2 0.3373 0.5077 0.0154 0.4154 0.4923 0.4923 0.4385 0.4308 0.6615 0.5200 0.5828 0.4330 0.4016 - -
Dividend per Share 2 0.6864 - - - 0.7769 - - - - - - 0.0731 0.8802 - -
Announcement Date 29/03/22 13/05/22 12/08/22 11/11/22 25/03/23 04/05/23 03/08/23 09/11/23 21/03/24 10/05/24 - - - - -
1BRL in Million2BRL
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 13,487 16,745 14,917 13,052 - 7,591 11,959 14,747
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 3.082 x 3.435 x 2.514 x 1.884 x - 0.9751 x 1.516 x 1.898 x
Free Cash Flow 1 1,967 7,072 3,505 6,440 - 3,259 -235 -260
ROE (net income / shareholders' equity) 20.5% 17.1% 20.3% 19.8% - 18.8% 16.2% 14.7%
ROA (Net income/ Total Assets) 5.7% 5.48% 7.07% 7.74% - 9.57% 7.3% 6.04%
Assets 1 54,891 52,305 53,064 52,858 - 47,950 60,955 70,025
Book Value Per Share 2 5.550 6.110 6.800 7.610 - 9.370 10.20 11.10
Cash Flow per Share 2 0.7100 3.010 1.290 2.310 - 1.810 3.220 3.440
Capex 1 1,927 1,538 2,032 3,405 - 4,774 5,258 6,359
Capex / Sales 7.59% 6.09% 6.04% 9.88% - 13.89% 14.5% 17.25%
Announcement Date 20/03/20 26/03/21 29/03/22 25/03/23 21/03/24 - - -
1BRL in Million2BRL
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Companhia Energética de Minas Gerais - CEMIG

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
10
Last Close Price
9.95 BRL
Average target price
11.32 BRL
Spread / Average Target
+13.81%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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