Latest Ratios: P/E Ratio 4.3x · EV/EBITDA 4.8x · ROE 10.8%. (1998–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.2B | $1.8B | $971M | $1.4B | — | — | — | — | — | — | — |
| Enterprise Value | $5.5B | $18.9B | $14.4B | $11.0B | — | — | — | — | — | — | — |
| P/E Ratio → | 4.29 | 0.67 | 0.30 | 3.07 | — | — | — | — | — | — | — |
| P/S Ratio | 0.44 | 0.07 | 0.04 | 0.06 | — | — | — | — | — | — | — |
| P/B Ratio | 0.49 | 0.08 | 0.04 | 0.06 | — | — | — | — | — | — | — |
| P/FCF | 9.12 | 1.42 | — | 18.14 | — | — | — | — | — | — | — |
| P/OCF | 3.82 | 0.59 | 1.54 | 1.98 | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.74 | 0.64 | 0.51 | — | — | — | — | — | — | — |
| EV / EBITDA | 4.78 | 3.18 | 2.84 | 2.41 | — | — | — | — | — | — | — |
| EV / EBIT | 6.32 | 4.20 | 4.82 | 4.26 | — | — | — | — | — | — | — |
| EV / FCF | — | 15.23 | — | 143.19 | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.3% | 21.3% | 21.6% | 22.8% | 24.0% | 225.4% | 28.4% | 27.8% | 21.8% | 23.9% | 21.9% |
| Operating Margin | 17.6% | 17.6% | 15.9% | 14.8% | 6.2% | -21.9% | 26.3% | 17.0% | 13.4% | 9.9% | 13.6% |
| Net Profit Margin | 10.3% | 10.3% | 12.4% | 10.5% | 5.4% | -37.2% | 21.0% | 12.5% | 9.7% | 7.4% | 6.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.8% | 10.8% | 11.3% | 10.0% | 5.1% | 23.3% | 20.6% | 11.7% | 8.8% | 6.8% | 6.1% |
| ROA | 4.5% | 4.5% | 5.0% | 4.3% | 2.2% | 10.3% | 9.2% | 5.4% | 4.1% | 3.3% | 3.0% |
| ROIC | 8.5% | 8.5% | 7.4% | 7.4% | 3.1% | 7.6% | 13.7% | 7.7% | 5.8% | 4.4% | 6.1% |
| ROCE | 9.4% | 9.4% | 7.7% | 7.2% | 3.0% | 7.4% | 14.0% | 8.7% | 6.9% | 5.4% | 7.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.88 | 0.88 | 0.69 | 0.63 | 0.60 | 0.54 | 0.50 | 0.66 | 0.72 | 0.63 | 0.59 |
| Debt / EBITDA | 3.41 | 3.41 | 3.47 | 3.33 | 5.06 | 3.06 | 1.71 | 3.19 | 4.40 | 4.63 | 3.55 |
| Net Debt / Equity | — | 0.74 | 0.52 | 0.40 | 0.48 | 0.39 | 0.34 | 0.50 | 0.60 | 0.57 | 0.52 |
| Net Debt / EBITDA | 2.88 | 2.88 | 2.65 | 2.10 | 4.00 | 2.18 | 1.16 | 2.39 | 3.67 | 4.14 | 3.15 |
| Debt / FCF | — | 13.81 | — | 125.05 | 46.03 | 15.16 | 15.57 | 6.81 | — | — | — |
| Interest Coverage | 1.80 | 1.80 | 39.05 | 3.48 | 11.32 | 110.29 | 39.09 | 11.72 | 36.87 | 17.28 | 30.65 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.98 | 0.98 | 1.26 | 1.47 | 1.30 | 1.40 | 1.18 | 1.48 | 0.99 | 0.93 | 0.75 |
| Quick Ratio | 0.97 | 0.97 | 1.25 | 1.45 | 1.28 | 1.38 | 1.16 | 1.46 | 0.98 | 0.92 | 0.73 |
| Cash Ratio | 0.32 | 0.32 | 0.42 | 0.61 | 0.40 | 0.49 | 0.35 | 0.62 | 0.37 | 0.20 | 0.20 |
| Asset Turnover | — | 0.42 | 0.39 | 0.38 | 0.41 | -0.27 | 0.40 | 0.41 | 0.40 | 0.42 | 0.43 |
| Inventory Turnover | 116.26 | 116.26 | 130.28 | 94.90 | 80.09 | 84.48 | 81.99 | 87.89 | 97.80 | 96.47 | 78.34 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 21.8% | 100.0% | 30.3% | 10.8% | — | — | — | — | — | — | — |
| Payout Ratio | 93.8% | 93.8% | 10.5% | 6.7% | 37.7% | 14.5% | 3.1% | 19.1% | 21.4% | 49.0% | 41.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 23.3% | 149.7% | 331.7% | 32.5% | — | — | — | — | — | — | — |
| FCF Yield | 11.0% | 70.5% | — | 5.5% | — | — | — | — | — | — | — |
| Buyback Yield | 0.6% | 3.9% | 1.0% | 0.0% | — | — | — | — | — | — | — |
| Total Shareholder Yield | 22.4% | 100.0% | 31.3% | 10.8% | — | — | — | — | — | — | — |
| Shares Outstanding | — | $186M | $186M | $177M | $171M | $171M | $171M | $171M | $171M | $171M | $171M |
Regulatory and Hydrological Volatility
As reported in financial statements, ELPC trades at a P/E of 4.28x, a valuation level that suggests the market is heavily discounting the stock due to historical governance concerns and the inherent volatility of the Brazilian power sector's regulatory environment.
The current valuation appears to be anchored by a significant governance discount relative to private-sector peers, reflecting investor skepticism regarding the transition from state control. While the 21.9% dividend yield is eye-catching, it likely signals market uncertainty regarding the sustainability of such payouts rather than a pure income opportunity.
Based on the provided quarterly data, ELPC's ROE has fluctuated between 1.5% and 4.8% over the last ten quarters, indicating that the company is struggling to consistently meet the regulatory authorized returns typically expected in the Brazilian utility sector.
This persistent gap between earned and allowed ROE suggests that hydrological risk and operational inefficiencies are eroding the returns that the regulatory framework is designed to provide. Investors should monitor whether the recent privatization efforts lead to a more stable alignment between actual performance and the regulatory remuneration base.
According to recent financial disclosures, the company's debt-to-capital ratio has shifted from 0.38 to 0.50 over the last ten quarters, suggesting that management is actively adjusting its leverage profile to navigate the capital-intensive requirements of its Paraná distribution concession.
The variability in interest coverage ratios, which have swung from 1.51x to 44.13x, implies that the company's ability to service debt is highly sensitive to non-recurring items and seasonal cash flow timing. This volatility warrants further investigation into whether the current debt load is sustainable under a more normalized interest rate environment.
As indicated by the provided financial data, the dividend payout ratio has reached as high as 144% in 2026Q1, which suggests that the company is occasionally distributing more than its net income to shareholders, potentially at the expense of internal funding for CAPEX.
The erratic nature of these distributions, ranging from near-zero to triple-digit payout ratios, indicates that the dividend policy is not yet anchored to a predictable cash flow model. This lack of consistency may hinder the company's ability to retain sufficient earnings to fund the grid modernization required by its regulatory obligations.
The market's reliance on a standard P/E ratio of 4.28x for ELPC obscures the impact of non-cash construction revenue and regulatory accounting timing differences, which frequently distort the company's reported earnings and make traditional valuation multiples misleading for institutional investors.
Analysts should instead focus on EV/EBITDA or a normalized ROE adjusted for hydrological scaling factors to better capture the company's underlying operational health. Using a standard P/E ratio fails to account for the regulatory nature of the business, where earnings are often a function of accounting adjustments rather than pure cash-generating growth.
Includes 30+ ratios · 28 years · Updated daily
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Quick answers to the most common questions about buying ELPC stock.
Companhia Paranaense de Energia's current P/E ratio is 4.3x. The historical average is 1.3x. This places it at the 100th percentile of its historical range.
Companhia Paranaense de Energia's current EV/EBITDA is 4.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 2.8x.
Companhia Paranaense de Energia's return on equity (ROE) is 10.8%. The historical average is 9.4%.
Based on historical data, Companhia Paranaense de Energia is trading at a P/E of 4.3x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Companhia Paranaense de Energia's current dividend yield is 21.80% with a payout ratio of 93.8%.
Companhia Paranaense de Energia has 21.3% gross margin and 17.6% operating margin. Operating margin between 10-20% is typical for established companies.
Companhia Paranaense de Energia's Debt/EBITDA ratio is 3.4x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.