Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS) Financial Ratios
25 years of historical data (2001–2025) · Utilities · Regulated Water
EV/EBITDA
↑
10.56
↑+239% vs avg
5yr avg: 3.11
30Y Low1.7·High5.1
P/FCF
↑
N/A
—
5yr avg: 5.35
30Y Low1.3·High56.2
P/B Ratio
↑
2.64
↑+801% vs avg
5yr avg: 0.29
30Y Low0.1·High1.9
ROE
↑
20.9%
↓+25% vs avg
5yr avg: 16.7%
30Y Low-9%·High29%
Debt/EBITDA
↑
2.82
+19% vs avg
5yr avg: 2.36
30Y Low0.4·High9.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
SBS Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Companhia de Saneamento Básico do Estado de São Paulo - SABESP trades at 13.5x earnings, 547% above its 5-year average of 2.1x, sitting at the 100th percentile of its historical range. Compared to the Utilities sector median P/E of 19.7x, the stock trades at a discount of 31%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $23.2B | $16.3B | $9.8B | $10.4B | $7.3B | $5.0B | $5.9B | $10.3B | $5.5B | $7.1B | $5.9B |
| Enterprise Value | $30.4B | $51.6B | $33.4B | $29.1B | $24.4B | $22.0B | $22.7B | $13.0B | $15.6B | $17.0B | $16.0B |
| P/E Ratio → | 13.53 | 1.97 | 1.02 | 2.95 | 2.33 | 2.18 | 6.05 | 3.05 | 1.94 | 2.83 | 2.01 |
| P/S Ratio | 3.07 | 0.44 | 0.27 | 0.41 | 0.33 | 0.26 | 0.33 | 0.57 | 0.34 | 0.49 | 0.42 |
| P/B Ratio | 2.64 | 0.39 | 0.27 | 0.35 | 0.27 | 0.20 | 0.26 | 1.91 | 0.28 | 0.41 | 0.38 |
| P/FCF | — | — | — | — | 6.69 | 4.01 | — | 11.06 | 3.34 | 5.39 | 6.84 |
| P/OCF | 13.96 | 1.99 | 1.32 | 2.14 | 1.84 | 1.28 | 1.18 | 2.45 | 1.44 | 2.16 | 1.98 |
P/E links to full P/E history page with 30-year chart
SBS EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Companhia de Saneamento Básico do Estado de São Paulo - SABESP's enterprise value stands at 10.6x EBITDA, 239% above its 5-year average of 3.1x. The Utilities sector median is 11.5x, placing the stock at a 8% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.38 | 0.92 | 1.14 | 1.11 | 1.13 | 1.28 | 0.72 | 0.97 | 1.16 | 1.14 |
| EV / EBITDA | 10.56 | 3.64 | 1.83 | 3.19 | 3.44 | 3.47 | 3.48 | 1.74 | 2.38 | 3.22 | 3.50 |
| EV / EBIT | 12.46 | 4.29 | 2.16 | 4.72 | 4.44 | 5.64 | 10.94 | 2.36 | 3.40 | 4.24 | 3.45 |
| EV / FCF | — | — | — | — | 22.38 | 17.61 | — | 13.98 | 9.46 | 12.80 | 18.45 |
SBS Profitability
Margins and return-on-capital ratios measuring operating efficiency
Companhia de Saneamento Básico do Estado de São Paulo - SABESP earns an operating margin of 32.2%, above the Utilities sector average of 19.8%. Operating margins have expanded from 24.8% to 32.2% over the past 3 years, signaling improving operational efficiency. ROE of 20.9% indicates solid capital efficiency, compared to the sector median of 9.4%. ROIC of 13.1% represents solid returns on invested capital.
Margins
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 | 36.6% | 36.6% | 54.1% | 37.2% | 34.9% | 34.3% | 37.2% | 43.6% | 43.5% | 39.9% | 36.1% |
| Operating Margin | 32.2% | 32.2% | 42.9% | 24.8% | 21.1% | 21.0% | 25.2% | 31.8% | 32.2% | 27.1% | 24.3% |
| Net Profit Margin | 22.2% | 22.2% | 26.5% | 13.8% | 14.2% | 11.8% | 5.5% | 18.7% | 17.6% | 17.2% | 20.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 20.9% | 20.9% | 28.7% | 12.3% | 11.9% | 9.7% | 6.9% | 27.0% | 15.3% | 15.3% | 20.2% |
| ROA | 8.9% | 8.9% | 13.5% | 5.9% | 5.7% | 4.5% | 3.1% | 12.2% | 6.8% | 6.6% | 8.4% |
| ROIC | 13.1% | 13.1% | 21.3% | 10.2% | 8.1% | 7.5% | 14.1% | 22.7% | 13.6% | 11.2% | 10.1% |
| ROCE | 15.2% | 15.2% | 25.4% | 12.2% | 9.4% | 8.9% | 16.5% | 23.7% | 14.2% | 11.8% | 11.0% |
SBS Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Companhia de Saneamento Básico do Estado de São Paulo - SABESP carries a Debt/EBITDA ratio of 2.8x, which is moderately leveraged (43% below the sector average of 5.0x). Net debt stands at $35.3B ($40.0B total debt minus $4.7B cash). Interest coverage of just 2.9x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.94 | 0.94 | 0.68 | 0.65 | 0.69 | 0.71 | 0.76 | 0.61 | 0.67 | 0.69 | 0.78 |
| Debt / EBITDA | 2.82 | 2.82 | 1.39 | 2.14 | 2.67 | 2.79 | 2.64 | 0.44 | 2.00 | 2.30 | 2.61 |
| Net Debt / Equity | — | 0.83 | 0.64 | 0.63 | 0.63 | 0.68 | 0.74 | 0.50 | 0.52 | 0.56 | 0.65 |
| Net Debt / EBITDA | 2.49 | 2.49 | 1.30 | 2.05 | 2.41 | 2.68 | 2.58 | 0.36 | 1.54 | 1.87 | 2.20 |
| Debt / FCF | — | — | — | — | 15.69 | 13.60 | — | 2.92 | 6.12 | 7.41 | 11.61 |
| Interest Coverage | 2.86 | 2.86 | 8.65 | 4.50 | 3.81 | 5.58 | 28.51 | 26.78 | 10.58 | 8.63 | 6.08 |
SBS Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.12x means Companhia de Saneamento Básico do Estado de São Paulo - SABESP can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 0.93x to 1.12x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.12 | 1.12 | 0.89 | 0.93 | 1.09 | 1.28 | 1.09 | 0.76 | 1.04 | 0.96 | 0.89 |
| Quick Ratio | 1.12 | 1.12 | 0.89 | 0.92 | 1.08 | 1.25 | 1.07 | 0.75 | 1.03 | 0.94 | 0.88 |
| Cash Ratio | 0.75 | 0.75 | 0.45 | 0.39 | 0.53 | 0.62 | 0.65 | 0.35 | 0.56 | 0.48 | 0.44 |
| Asset Turnover | — | 0.35 | 0.45 | 0.42 | 0.39 | 0.37 | 0.35 | 1.56 | 0.37 | 0.37 | 0.38 |
| Inventory Turnover | 1073.12 | 1073.12 | 1534.76 | 186.63 | 115.50 | 112.77 | 106.63 | 578.83 | 138.52 | 102.47 | 155.39 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
SBS Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Companhia de Saneamento Básico do Estado de São Paulo - SABESP returns 2.5% to shareholders annually — split between a 2.1% dividend yield and 0.4% buyback yield. The payout ratio of 27.9% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 7.4% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
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 | 2.1% | 14.2% | — | — | — | 5.1% | — | 7.2% | 11.8% | 10.7% | 2.3% |
| Payout Ratio | 27.9% | 27.9% | — | — | — | 11.0% | — | 22.0% | 23.0% | 30.4% | 4.7% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.4% | 50.7% | 97.8% | 33.9% | 42.9% | 45.9% | 16.5% | 32.8% | 51.4% | 35.3% | 49.7% |
| FCF Yield | — | — | — | — | 14.9% | 24.9% | — | 9.0% | 30.0% | 18.6% | 14.6% |
| Buyback Yield | 0.4% | 2.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 2.5% | 17.1% | 0.0% | 0.0% | 0.0% | 5.1% | 0.0% | 7.2% | 11.8% | 10.7% | 2.3% |
| Shares Outstanding | — | $684M | $684M | $684M | $684M | $684M | $684M | $684M | $684M | $684M | $684M |
Peer Comparison
Compare SBS with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 SBSYou | $23B | 13.5 | 10.6 | — | 36.6% | 32.2% | 20.9% | 13.1% | 2.8 |
 AWK | $25B | 22.0 | 14.5 | — | 43.3% | 36.6% | 10.5% | 5.5% | 5.7 |
 CWT | $3B | 20.0 | 12.7 | — | 36.7% | 18.2% | 7.7% | 4.4% | 5.0 |
 YORW | $463M | 20.9 | 16.6 | — | 54.8% | 35.8% | 8.5% | 4.6% | 5.5 |
 MSEX | $950M | 21.7 | 15.7 | — | 39.2% | 27.9% | 9.1% | 4.7% | 4.8 |
 ARTNA | $328M | 14.4 | 10.3 | — | 37.2% | 31.5% | 9.3% | 6.3% | 3.7 |
 GWRS | $202M | 63.7 | 9.1 | — | 44.9% | 12.8% | 4.4% | 4.2% | 0.3 |
 AWR | $3B | 22.5 | 15.5 | — | 50.8% | 30.9% | 13.3% | 8.0% | 3.7 |
 UTMD | $206M | 18.5 | 8.4 | 14.4 | 51.6% | 29.6% | 9.5% | 25.0% | 0.0 |
 XYL | $28B | 30.3 | 15.9 | 31.0 | 38.5% | 13.5% | 8.5% | 7.6% | 1.1 |
 NGL | $2B | -26.5 | 8.5 | 38.1 | 20.4% | 9.5% | 4.6% | 6.4% | 5.2 |
| Utilities Median | — | 19.7 | 11.5 | 15.4 | 40.7% | 19.8% | 9.4% | 4.9% | 5.0 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonSBS — Frequently Asked Questions
Quick answers to the most common questions about buying SBS stock.
What is Companhia de Saneamento Básico do Estado de São Paulo - SABESP's P/E ratio?
Companhia de Saneamento Básico do Estado de São Paulo - SABESP's current P/E ratio is 13.5x. The historical average is 3.1x. This places it at the 100th percentile of its historical range.
What is Companhia de Saneamento Básico do Estado de São Paulo - SABESP's EV/EBITDA?
Companhia de Saneamento Básico do Estado de São Paulo - SABESP's current EV/EBITDA is 10.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 3.7x.
What is Companhia de Saneamento Básico do Estado de São Paulo - SABESP's ROE?
Companhia de Saneamento Básico do Estado de São Paulo - SABESP's return on equity (ROE) is 20.9%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 11.9%.
Is SBS stock overvalued?
Based on historical data, Companhia de Saneamento Básico do Estado de São Paulo - SABESP is trading at a P/E of 13.5x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Companhia de Saneamento Básico do Estado de São Paulo - SABESP's dividend yield?
Companhia de Saneamento Básico do Estado de São Paulo - SABESP's current dividend yield is 2.07% with a payout ratio of 27.9%.
What are Companhia de Saneamento Básico do Estado de São Paulo - SABESP's profit margins?
Companhia de Saneamento Básico do Estado de São Paulo - SABESP has 36.6% gross margin and 32.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Companhia de Saneamento Básico do Estado de São Paulo - SABESP have?
Companhia de Saneamento Básico do Estado de São Paulo - SABESP's Debt/EBITDA ratio is 2.8x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.