The company maintains a conservative capital structure, evidenced by a 0.27 debt-to-equity ratio as of 2026Q1, which provides a buffer against macroeconomic volatility.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 |
|---|
| Total Assets | 3.98T | 3.67T | 2.66T | 3.06T | 1.19T | 391.45B | 239.08B | 2B | 57.26B | 17.08B | 12.72B | 9.56B | 6.3B | 1.69B | 1.47B | 1.58B | 1.24B | 827.57M | 1.02B | 1.23B | 1.13B | 1.68B |
| Asset Growth % | 155.42% | 37.8% | -12.89% | 156.92% | 203.84% | 63.74% | 11835.43% | -96.5% | 235.27% | 34.24% | 33.11% | 51.7% | 273.03% | 15.16% | -7% | 27.58% | 49.38% | -18.7% | -17.53% | 9.05% | -32.59% | - |
| PP&E (Net) | 2.5T | 2.54T | 1.62T | 1.65T | 616.32B | 215.49B | 119.53B | 946.95M | 22.57B | 7.43B | 2.81B | 1.97B | 1.5B | 687.51M | 733.33M | 567.76M | 588.38M | 493.29M | 479.05M | 653.64M | 786.6M | 1.07B |
| PP&E / Total Assets % | 62.82% | 69.14% | 60.78% | 54.08% | 51.82% | 55.05% | 49.99% | 47.27% | 39.41% | 43.51% | 22.1% | 20.59% | 23.87% | 40.7% | 50% | 36% | 47.59% | 59.61% | 47.06% | 52.96% | 69.5% | 63.49% |
| Total Current Assets | 689.15B | 722.09B | 554.31B | 636.98B | 327.11B | 90.92B | 56.08B | 442.56M | 13.49B | 5.81B | 4.32B | 3.64B | 2.09B | 297.03M | 244.51M | 723.88M | 477.8M | 255.2M | 437.1M | 447.48M | 178.33M | 504.81M |
| Cash & Equivalents | 26.4B | 37.67B | 3.84B | 29.33B | 28.79B | 548.79M | 420.67M | 24.95M | 229.95M | 88.63M | 30.01M | 282.44M | 179.32M | 45.69M | 42.03M | 3.85M | 14.89M | 7.07M | 24.49M | 11.15M | 16.65M | 34.43M |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Inventory | 48.63B | 49.99B | 56.96B | 34.19B | 28.86B | 2.82B | 1.21B | 14.54M | 220.9M | 110.29M | 137.97M | 82.67M | 48.79M | 19.05M | 18.12M | 37.13M | 13.49M | 11.27M | 5.59M | 7.12M | 9.38M | 25.05M |
| Other Current Assets | 41.68B | 2.84B | 1.47B | 1.41B | 239.42M | 96.49M | 3.62B | 1.13M | 848.35M | 1.36B | 93.73M | 957.48M | 191.15M | 64.26M | 5.39M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 1.08T | 341.22B | 124.23B | 159.19B | 41.49B | 12.34B | 7.04B | 462.64M | 2B | 985.65M | 307.01M | 389.1M | 103.03M | 457.53M | 228.38M | 102.72M | 23.71M | 16.88M | 61.79K | 61.79K | 61.79K | 0 |
| Goodwill | 37.51B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.15M | 284.36K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 37.8B | 40.46B | 30.72B | 34.75B | 24.21B | 11.76B | 10.18B | 118.06M | 2.24B | 187.83M | 236.53M | 276.69M | 36.81M | 33.14M | 39.82M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 361.25B | 24.12B | 328.51B | 544.68B | 177.66B | 60.69B | 46.1B | 13.92M | 74.69M | 48.2M | 30.87M | 31.25M | 202.33M | 671.38M | 449.11M | 182.84M | 146.35M | 62.21M | 101.73M | 133.1M | 166.81M | 108.07M |
| Total Liabilities | 1.19T | 1.05T | 798.95B | 1.19T | 375.52B | 144.46B | 111.51B | 1.02B | 24.33B | 9.72B | 7.57B | 4.9B | 2.85B | 496.38M | 447.55M | 658.46M | 489.03M | 350.21M | 547.41M | 754.58M | 730.77M | 1.37B |
| Total Debt | 748.9B | 492.84B | 380.79B | 729.91B | 197.52B | 82.1B | 75.08B | 646.59M | 8.68B | 4.79B | 3.63B | 2.03B | 997.09M | 69.52M | 110.65M | 108.82M | 123.38M | 24.9M | 133.01M | 458.48M | 573.46M | 1.24B |
| Net Debt | 722.5B | 455.17B | 376.95B | 700.58B | 168.73B | 81.55B | 74.65B | 621.64M | 8.45B | 4.7B | 3.6B | 1.74B | 817.78M | 23.83M | 68.62M | 104.97M | 108.49M | 17.82M | 108.52M | 447.33M | 556.81M | 1.21B |
| Long-Term Debt | 327.9B | 348.8B | 230.01B | 623.62B | 140.88B | 69.82B | 45.14B | 512.54M | 6.19B | 2.53B | 1.28B | 861.27M | 707.74M | 0 | 18.13M | 70M | 0 | 0 | 111.78M | 444.59M | 542.79M | 166.15M |
| Short-Term Borrowings | 420.99B | 144.03B | 150.78B | 106.29B | 56.63B | 12.28B | 29.94B | 134.05M | 2.49B | 2.26B | 2.34B | 1.16B | 289.35M | 69.52M | 92.52M | 38.82M | 123.38M | 24.9M | 21.23M | 13.89M | 30.67M | 1.08B |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 626.63B | 407.32B | 374.72B | 321.98B | 132.35B | 33.11B | 42.9B | 301.55M | 11.22B | 5.9B | 4.3B | 2.42B | 983.95M | 238.73M | 206.61M | 442.21M | 340.18M | 256.17M | 351.35M | 169.2M | 187.98M | 1.2B |
| Accounts Payable | 113.93B | 124.15B | 94.48B | 107.84B | 22.99B | 5.16B | 3.62B | 92.91M | 2.62B | 1.49B | 652.35M | 375.36M | 159.82M | 18.62M | 26.67M | 220.98M | 91.34M | 153.7M | 208.17M | 114.51M | 118.59M | 101.63M |
| Accrued Expenses | 111.22B | 39.03B | 14.61B | 16.92B | 4.3B | 1.21B | 671.79M | 10.07M | 2.85B | 1.42B | 653.86M | 313.3M | 271.82M | 77.63M | 31.67M | 36.95M | 27.29M | 16.46M | 0 | 0 | 0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5.86B | 37.74M | 1.29B | 935.81M | 524.29M | 147.7M | 65.5M | 137.35M | -206.14M | -170.93M | 114.19M | 33.06M | 35.34M | 14.77M |
| Other Current Liabilities | 4.17B | 64.27B | 19.21B | 18.75B | 4.92B | 2.91B | 1.26B | 36.65M | 3.27B | 727.37M | 652.5M | 563.46M | 197.29M | 45.42M | 30.95M | 95.9M | 8.58M | 7.66M | 23.11M | 16.31M | 11.13M | 7.23M |
| Deferred Taxes | 642.37B | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | 0 |
| Other Liabilities | 37.51B | 49.86B | 35.37B | 72.56B | 26.09B | 11.97B | 9.9B | 76.72M | 6.92B | -2.56B | 1.77B | 1.43B | 1.03B | 257.65M | 38.31M | 0 | 0 | 0 | 0 | 0 | 0 | 13.06M |
| Total Equity | 2.73T | 2.62T | 1.86T | 1.87T | 813.88B | 246.99B | 127.56B | 987.94M | 32.93B | 7.36B | 5.15B | 4.66B | 3.45B | 1.19B | 1.02B | 918.75M | 747.22M | 477.37M | 470.54M | 479.7M | 401.03M | 304.21M |
| Equity Growth % | 151.04% | 40.36% | -0.12% | 129.19% | 229.52% | 93.62% | 12812.01% | -97% | 347.34% | 42.82% | 10.58% | 34.93% | 189.63% | 17.02% | 10.94% | 22.96% | 56.53% | 1.45% | -1.91% | 19.62% | 31.83% | - |
| Shareholders Equity | 2.67T | 2.55T | 1.8T | 1.82T | 813.26B | 246.66B | 127.37B | 974.73M | 32.46B | 7.07B | 5.15B | 4.66B | 3.45B | 1.19B | 1.02B | 918.75M | 747.22M | 477.37M | 470.54M | 479.7M | 401.03M | 304.21M |
| Minority Interest | 70.86B | 64.77B | 63.06B | 47.37B | 616.61M | 331.37M | 193.69M | 13.21M | 467.68M | 289.04M | 6.72M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Common Stock | 1.39B | 1.5B | 541.02B | 541.02B | 248.44B | 79.78B | 40.96B | 25.29M | 1.51B | 1.51B | 1.51B | 199.74M | 199.74M | 88.51M | 88.51M | 88.51M | 88.51M | 88.51M | 0 | 0 | 0 | 0 |
| Additional Paid-in Capital | 534.93B | 559.36B | 0 | 0 | 78.27B | 78.27B | 39.44B | 307.6M | 0 | 0 | 0 | 0 | 0 | 0 | 130.17M | 130.17M | 130.17M | 130.17M | 0 | 0 | 0 | 0 |
| Retained Earnings | 505.75B | 332.37B | 50.91B | 322.33B | 58.82B | -1.43B | 10.41B | 159.33M | 14.72B | 3.5B | 1.76B | 1.35B | 682.42M | 160.81M | 177.18M | 429.06M | 248.55M | 7.79M | 0 | 0 | 0 | 0 |
| Accumulated OCI | 1.68T | 1.67T | 1.25T | 1T | 524.1B | 174.09B | 78.97B | 482.52M | 4.79B | 1.01B | 834.67M | 2.08B | 1.54B | 796.67M | 606.84M | 254.49M | 263.48M | 234.38M | 0 | 0 | 0 | 0 |
| Return on Assets (ROA) | 18.99% | 12.75% | 1.73% | 15.19% | 16.34% | -1.43% | 16.81% | 61.09% | 47.13% | 23.54% | 15.88% | 16.78% | 7.95% | 5.72% | -1.97% | 16.48% | 24.08% | 14.27% | 0.86% | 17.48% | 12.81% | -5.13% |
| Return on Equity (ROE) | 27.39% | 18.02% | 2.66% | 24.07% | 24.34% | -2.4% | 31.53% | 106.74% | 86.97% | 56.06% | 36.04% | 32.8% | 13.67% | 8.16% | -3.1% | 27.83% | 40.57% | 27.78% | 2.03% | 46.96% | 51.04% | -28.3% |
| Debt / Equity | 0.27x | 0.19x | 0.20x | 0.39x | 0.24x | 0.33x | 0.59x | 0.65x | 0.26x | 0.65x | 0.70x | 0.43x | 0.29x | 0.06x | 0.11x | 0.12x | 0.17x | 0.05x | 0.28x | 0.96x | 1.43x | 4.09x |
| Debt / Assets | 18.82% | 13.43% | 14.3% | 23.89% | 16.61% | 20.97% | 31.4% | 32.28% | 15.15% | 28.06% | 28.5% | 21.2% | 15.83% | 4.12% | 7.54% | 6.9% | 9.98% | 3.01% | 13.07% | 37.15% | 50.67% | 74.13% |
| Net Debt / EBITDA | 0.91x | 0.80x | 1.21x | 0.79x | 0.31x | 0.37x | 0.75x | 0.01x | 0.26x | 1.36x | 1.18x | 0.88x | 2.20x | 0.29x | 0.57x | 0.26x | 0.34x | 0.09x | 0.55x | 3.49x | 9.08x | 13.49x |
| Book Value per Share | 18.13K | 17.41K | 12.4K | 12.41K | 5.41K | 1.64K | 847.5 | 6.56 | 218.77 | 48.62 | 34.23 | 29.17 | 21.62 | 35.46 | 30.3 | 12.98 | 10.55 | 6.74 | 13.99 | 14.26 | 11.92 | 9.05 |
Regulatory and CAMMESA credit
As reported in recent financial statements, CEPU's net PPE has grown from $1.2T in 2024Q1 to $2.5T by 2026Q1, reflecting a significant expansion of the company's regulated generation footprint through the strategic integration of acquired thermal assets within the critical Buenos Aires demand hub.
The rapid appreciation in net PPE suggests a deliberate strategy to consolidate market share in essential generation capacity. Investors should monitor whether this asset growth translates into higher regulated capacity payments or if the aging nature of the acquired fleet necessitates elevated maintenance capital requirements that could pressure future margins.
Based on the company's reported figures, CEPU maintains a highly conservative capital structure with a debt-to-equity ratio of 0.27 as of 2026Q1, demonstrating a disciplined approach to leverage that remains significantly lower than regional utility peers operating within the same inflationary macroeconomic environment.
This minimal reliance on debt appears to be a structural hedge against the currency-mismatch risks inherent in the Argentine market. The company's ability to maintain such a low leverage profile suggests that management prioritizes balance sheet resilience over aggressive capital expansion, which may provide a critical buffer against potential regulatory shocks.
According to the latest quarterly data, equity has expanded to $2.7T in 2026Q1, primarily supported by the accumulation of retained earnings rather than dilutive equity issuances, which indicates a focus on preserving shareholder value despite the distortive effects of hyperinflationary accounting standards on the balance sheet.
The consistent growth in equity relative to total assets suggests that the company is successfully internalizing its earnings to fund growth. However, analysts should remain cautious, as the reported equity value is heavily influenced by non-monetary adjustments that may not reflect the underlying cash-generating capacity of the business.
As indicated by the company's financial disclosures, the significant accumulation of trade receivables remains a primary balance sheet concern, with the current ratio fluctuating to 1.10 in 2026Q1, potentially masking liquidity constraints tied to the delayed settlement cycles of the state-controlled clearinghouse, CAMMESA.
While the balance sheet appears robust on the surface, the quality of these receivables warrants further investigation, as they represent a significant portion of current assets. Any potential restructuring of energy sector debts by the government could lead to material impairments that would immediately challenge the company's current liquidity position.
Quick answers to the most common questions about buying CEPU stock.
As of 2025, Central Puerto S.A. (CEPU) had total assets of $3.67T including $722.09B in current assets.
Central Puerto S.A. (CEPU) carries total debt of $492.84B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Central Puerto S.A. (CEPU) has total shareholders' equity (book value) of $2.55T ($17411.99 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Central Puerto S.A. (CEPU) reported a current ratio of 1.77x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.