Companhia Energética de Minas Gerais (CIG-C) 10-Year Financial Performance & Capital Metrics

CIG-C • • Utilities

UtilitiesDiversified UtilitiesInternational Diversified UtilitiesBrazilian Integrated Utilities

AboutCompanhia Energética de Minas Gerais, through its subsidiaries, engages in the generation, transmission, distribution, and sale of energy in Brazil. As of December 31, 2021, the company operated 70 hydroelectric, wind, and solar plants with an installed capacity of 5,700 MW; 339,086 miles of distribution lines; and 4,449 miles of transmission lines. It is also involved in the acquisition, transportation, and distribution of gas and its sub products and derivatives; provision of cloud solution, IT infrastructure, IT management, and cybersecurity services; provision of technology systems and systems for operational management of public service concessions; sale and trading of energy; provision of telecommunications services; and distributed generation, account services, cogeneration, energy efficiency, and supply and storage management activities. The company was incorporated in 1952 and is headquartered in Belo Horizonte, Brazil.Show more

Revenue $39.82B +8.1%
EBITDA $8.87B +18.4%
Net Income $7.12B +23.5%
Free Cash Flow $3.12B +16.5%
EBITDA Margin 22.27% +9.6%
Net Margin 17.87% +14.3%
ROE 27.35% +10.2%
Interest Coverage 7.43 +22.9%
Debt/Equity 0.46 +11.5%
Net Debt/EBITDA 1.22 +4.6%
CapEx / Revenue 5.97% -44.6%
CapEx Coverage 2.31 +38.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 24.0%
✓Strong 5Y profit CAGR of 17.4%
✓Strong interest coverage of 7.4x
✓Trading at only 0.3x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y7.38%

5Y9.33%

3Y5.78%

TTM11.6%

Profit (Net Income) CAGR

10Y8.54%

5Y17.38%

3Y23.8%

TTM-49.79%

EPS CAGR

10Y4.2%

5Y12.37%

3Y23.87%

TTM-49.64%

ROCE

10Y Avg11.81%

5Y Avg14.53%

3Y Avg15.14%

Latest17.13%

Peer Comparison

Brazilian Integrated Utilities

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ELPCompanhia Paranaense de Energia - COPEL	7.25M	9.27	2.97	5.45%	8.85%	8.51%		0.69
CIG-CCompanhia Energética de Minas Gerais	2.52B	2.63	1.06	8.06%	9.51%	13.99%	100%	0.46
CIGCompanhia Energética de Minas Gerais	3.77B	1.98	0.80	8.06%	9.26%	13.99%	82.76%	0.46
ELPCCompanhia Paranaense de Energia	6.93B	9.33	0.54	5.45%	8.85%	8.51%		0.69

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	21.29B	18.77B	21.71B	22.27B	25.49B	25.23B	33.65B	34.46B	36.85B	39.82B
Revenue Growth %	0.09%	-0.12%	0.16%	0.03%	0.14%	-0.01%	0.33%	0.02%	0.07%	0.08%
Cost of Revenue	18.32B	15.9B	18.43B	19.02B	18.6B	19.91B	26.92B	27.65B	28.47B	31.99B
Gross Profit+	2.97B	2.87B	3.28B	3.25B	6.89B	5.32B	6.72B	6.81B	8.38B	7.83B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	-0.56%	-0.04%	0.14%	-0.01%	1.12%	-0.23%	0.26%	0.01%	0.23%	-0.07%
Operating Expenses+	2.62B	1.56B	382.95M	471.6M	3.68B	610.68M	-228M	1.13B	2.17B	338M
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	4.95B	2.64B	3.49B	3.33B	4.1B	5.63B	8B	6.87B	7.49B	8.87B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	-0.22%	-0.47%	0.32%	-0.05%	0.23%	0.37%	0.42%	-0.14%	0.09%	0.18%
Depreciation & Amortization+	835M	834.29M	849.77M	834.59M	887.07M	926.59M	1.05B	1.18B	1.27B	1.38B
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	4.12B	1.8B	2.64B	2.5B	3.21B	4.71B	6.95B	5.69B	6.21B	7.49B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.26%	-0.56%	0.46%	-0.06%	0.29%	0.47%	0.48%	-0.18%	0.09%	0.21%
Interest Expense+	2.2B	2.48B	1.8B	1.32B	342.05M	245.18M	1.17B	935M	1.03B	1.01B
Interest Coverage	1.87x	0.73x	1.47x	1.89x	9.38x	19.20x	5.96x	6.08x	6.05x	7.43x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-1000K	-1000K	-1000K	-1000K	1000K	-1000K	-1000K	-1000K	1000K	1000K
Pretax Income+	3.38B	367.93M	1.65B	1.98B	4.57B	3.8B	4.7B	4.12B	6.85B	9.36B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	892.58M	33.17M	644.26M	599.12M	1.6B	935.72M	946M	26M	1.08B	2.24B
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	503K	334.33M	1B	1.7B	3.19B	2.86B	3.75B	4.09B	5.76B	7.12B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-1%	663.68%	2%	0.7%	0.88%	-0.1%	0.31%	0.09%	0.41%	0.23%
EPS (Diluted)+	1.30	0.05	0.25	0.69	1.39	1.00	1.31	1.86	2.01	2.49
EPS Growth %	-0.21%	-0.96%	4.39%	1.76%	1.01%	-0.28%	0.31%	0.42%	0.08%	0.24%
EPS (Basic)	1.30	0.07	0.25	0.69	1.39	1.00	1.31	1.86	2.01	2.49
Diluted Shares Outstanding	1.9B	1.9B	2.2B	2.45B	2.29B	2.2B	2.2B	2.2B	2.86B	2.86B

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	40.86B	42.04B	42.24B	59.85B	49.93B	54.08B	52.05B	53.67B	55B	59.73B
Asset Growth %	0.17%	0.03%	0%	0.42%	-0.17%	0.08%	-0.04%	0.03%	0.02%	0.09%
PP&E (Net)+	3.94B	3.77B	2.76B	2.66B	2.73B	2.62B	2.65B	2.74B	3.65B	4.1B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	9.38B	8.29B	8.54B	27.8B	10.14B	15.46B	12.95B	13.46B	11.87B	12.23B
Cash & Equivalents	925M	995M	1.03B	891M	536M	1.68B	825M	1.44B	1.54B	1.9B
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	37M	49M	38M	36M	39M	0	0	0	0	0
Other Current Assets	806M	719.02M	981M	20.25B	3.03B	5.6B	862M	889M	3.26B	1.42B
Long-Term Investments	12.49B	13.76B	14.43B	11.87B	12.09B	9.98B	10.43B	10.18B	10.36B	10.24B
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	10.28B	10.82B	11.16B	10.78B	11.62B	11.81B	12.95B	14.62B	15.25B	16.81B
Other Assets	3.28B	3.6B	3.49B	4.6B	10.91B	11.77B	10.61B	9.55B	10.82B	14.02B
Total Liabilities	27.87B	29.1B	27.91B	43.91B	34.87B	36.6B	32.58B	31.89B	30.34B	32.34B
Total Debt+	15.17B	15.18B	14.4B	14.77B	15.06B	15.25B	11.61B	10.94B	10.26B	12.71B
Net Debt	14.24B	14.18B	13.37B	13.88B	14.53B	13.57B	10.78B	9.49B	8.73B	10.81B
Long-Term Debt	8.87B	10.34B	12.03B	12.57B	12.03B	12.96B	9.9B	9.63B	7.2B	9.4B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	0	0	0	0	288M	227M	244M	354M	433M	429M
Total Current Liabilities+	13.07B	11.45B	8.66B	23.39B	8.75B	9.69B	10.69B	11.2B	13.09B	14.14B
Accounts Payable	1.9B	1.94B	2.34B	1.8B	2.08B	2.36B	2.92B	3.29B	3.72B	4.2B
Accrued Expenses	1.53B	692M	635M	1.15B	1.96B	2.54B	2.91B	2.12B	3.16B	3.83B
Deferred Revenue	0	181M	233M	79M	493M	1.09B	1.42B	2.28B	1.61B	0
Other Current Liabilities	2.59B	2.97B	2.26B	17.65B	832.68M	501.11M	489.58M	221M	281M	1.74B
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	4.55B	6.73B	6.49B	7.22B	13.23B	12.73B	10.85B	9.83B	8.58B	6.9B
Total Equity+	12.99B	12.93B	14.33B	15.94B	15.06B	17.48B	19.46B	21.78B	24.66B	27.38B
Equity Growth %	0.15%	-0%	0.11%	0.11%	-0.06%	0.16%	0.11%	0.12%	0.13%	0.11%
Shareholders Equity	12.98B	12.93B	14.33B	14.58B	15.05B	17.47B	19.46B	21.78B	24.65B	27.38B
Minority Interest	4M	4M	4M	1.36B	4M	4M	5M	6M	6M	5M
Common Stock	6.29B	6.29B	6.29B	7.29B	7.29B	7.59B	8.47B	11.01B	11.01B	14.31B
Additional Paid-in Capital	8.22B	1.93B	1.93B	0	0	0	0	0	0	394.45M
Retained Earnings	4.66B	5.2B	5.73B	145M	212M	0	0	0	0	13.58B
Accumulated OCI	6.69B	7.13B	7.65B	7.29B	8.59B	12.31B	13.2B	12.64B	15.29B	-899.86M
Return on Assets (ROA)	0%	0.01%	0.02%	0.03%	0.06%	0.06%	0.07%	0.08%	0.11%	0.12%
Return on Equity (ROE)	0%	0.03%	0.07%	0.11%	0.21%	0.18%	0.2%	0.2%	0.25%	0.27%
Debt / Equity	1.17x	1.17x	1.00x	0.93x	1.00x	0.87x	0.60x	0.50x	0.42x	0.46x
Debt / Assets	0.37%	0.36%	0.34%	0.25%	0.3%	0.28%	0.22%	0.2%	0.19%	0.21%
Net Debt / EBITDA	2.87x	5.38x	3.83x	4.17x	3.55x	2.41x	1.35x	1.38x	1.17x	1.22x
Book Value per Share	6.84	6.81	6.51	6.5	6.57	7.94	8.84	9.9	8.62	9.57

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	3.01B	1.21B	580M	1.01B	2.04B	8.61B	682.59M	6.61B	6.64B	5.5B
Operating CF Growth %	-0.19%	-0.6%	-0.52%	0.74%	1.02%	3.23%	-0.92%	8.69%	0%	-0.17%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	2.49B	335M	1B	1.7B	3.13B	2.87B	695.18M	1.41B	5.76B	7.12B
Depreciation & Amortization	835M	834M	850M	849M	958M	989M	194.42M	1.18B	1.27B	1.38B
Deferred Taxes	893M	33M	644M	-650M	-2.84B	-14M	-39.06M	-734M	-825M	1.73B
Other Non-Cash Items	-2.69B	2.63B	-402M	581M	-189M	-6.13B	-671.9M	3.92B	-78.7M	-5.18B
Working Capital Changes	594M	-1.94B	-1.18B	820M	980M	10.9B	503.94M	841M	509.7M	453M
Capital Expenditures+	-3.22B	-1.51B	-856M	-877M	-1.93B	-5.08B	254.11M	-3.21B	-3.97B	-2.38B
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-3.22B	-614M	-386M	-211M	-1.19B	-5.08B	254.11M	-3.21B	-3.97B	-2.38B
Acquisitions	-490M	-506M	474M	70M	38.27M	-93M	28.72K	-3.46B	632M	2.79B
Purchase of Investments	-1.64B	-1.39B	-4M	30M	-38.27M	-3.37B	-10.44M	-52.3M	-11.27B	-16.63B
Sale of Investments	-1000K	1000K	1000K	1000K	1000K	0	1000K	1000K	1000K	1000K
Other Investing	1.5B	1.39B	-766M	-30M	659M	-1.48B	-333.25M	394.3M	-4.61B	-4.79B
Cash from Financing+	247M	-529M	-158M	-937M	-1.2B	-2.39B	-1.1B	-2.79B	-2.58B	-2.76B
Dividends Paid	-796M	-675M	-540M	-509M	-701.14M	-598M	-262.47M	-2.09B	-1.82B	-4.29B
Dividend Payout Ratio %	1583.27%	2.02%	0.54%	0.3%	0.22%	0.21%	0.07%	0.51%	0.32%	0.6%
Debt Issuance (Net)	1000K	1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	1000K
Stock Issued	0	0	1.22B	109.55M	0	0	0	0	0	0
Share Repurchases	0	0	2.08B	0	0	0	0	0	0	0
Other Financing	0	-404K	1.2B	109M	137K	0	-13M	907K	-67.44M	0
Net Change in Cash+	37M	70M	35M	-140M	-355M	1.14B	-14.91M	616M	96M	361M
Exchange Rate Effect	1000K	0	-1000K	1000K	0	0	1000K	0	0	0
Cash at Beginning	887M	925M	995M	1.03B	891M	536M	50.91M	825M	1.44B	1.54B
Cash at End	924M	995M	1.03B	890M	536M	1.68B	36M	1.44B	1.54B	1.9B
Free Cash Flow+	-210M	-295M	-276M	131M	109M	3.53B	936.69M	3.41B	2.68B	3.12B
FCF Growth %	0.63%	-0.4%	0.06%	1.47%	-0.17%	31.39%	-0.73%	2.64%	-0.21%	0.17%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	0%	2.58%	7.35%	11.23%	20.61%	17.61%	20.31%	19.84%	24.82%	27.35%
EBITDA Margin	23.27%	14.05%	16.08%	14.96%	16.07%	22.33%	23.78%	19.93%	20.32%	22.27%
Net Debt / EBITDA	2.87x	5.38x	3.83x	4.17x	3.55x	2.41x	1.35x	1.38x	1.17x	1.22x
Interest Coverage	1.87x	0.73x	1.47x	1.89x	9.38x	19.20x	5.96x	6.08x	6.05x	7.43x
CapEx / Revenue	15.11%	8.03%	3.94%	3.94%	7.56%	20.12%	0.76%	9.3%	10.77%	5.97%
Dividend Payout Ratio	158326.64%	201.89%	53.91%	29.93%	21.95%	20.88%	7%	51.17%	31.63%	60.33%
Debt / Equity	1.17x	1.17x	1.00x	0.93x	1.00x	0.87x	0.60x	0.50x	0.42x	0.46x
EPS Growth	-21.21%	-96.43%	438.79%	176%	101.45%	-28.06%	31%	41.98%	8.06%	23.88%

Frequently Asked Questions

Valuation & Price

Companhia Energética de Minas Gerais (CIG-C) has a price-to-earnings (P/E) ratio of 1.1x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Companhia Energética de Minas Gerais (CIG-C) reported $42.29B in revenue for fiscal year 2024. This represents a 167% increase from $15.81B in 2011.

Companhia Energética de Minas Gerais (CIG-C) grew revenue by 8.1% over the past year. This is steady growth.

Yes, Companhia Energética de Minas Gerais (CIG-C) is profitable, generating $4.02B in net income for fiscal year 2024 (17.9% net margin).

Dividend & Returns

Yes, Companhia Energética de Minas Gerais (CIG-C) pays a dividend with a yield of 57.07%. This makes it attractive for income-focused investors.

Companhia Energética de Minas Gerais (CIG-C) has a return on equity (ROE) of 27.4%. This is excellent, indicating efficient use of shareholder capital.

Companhia Energética de Minas Gerais (CIG-C) generated $352.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Industry Metrics

Companhia Energética de Minas Gerais (CIG-C) has a dividend payout ratio of 60%. This suggests the dividend is well-covered and sustainable.

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