企業概要
Companhia Paranaense de Energia, known by its ticker ELPC, is a major player in the Brazilian power sector, engaging in the end-to-end management of electricity including research, planning, construction, production, and distribution. The company operates within the Utilities sector, specifically the Regulated Electric industry, where it functions under government oversight to provide essential energy services to the population. As of the latest data, the entity commands a market capitalization of $9.76B while generating annual revenue of $26.12B and employing 4,287 staff members. These valuation and revenue figures indicate that ELPC is a large-cap utility with significant operational scale, positioning it as a substantial contributor to the national energy infrastructure and economic stability.
財務健全性
The company reported a revenue of $26.12B for the trailing twelve months, with a net income of $2.67B and an EBITDA of $6.21B, revealing a significant gap that highlights a substantial cost structure comprising operational expenses, depreciation, and interest costs. The free cash flow stands at $4.38B, which provides the company with considerable financial flexibility to fund capital expenditures, manage debt obligations, or return capital to shareholders without relying on external financing. The gross margin is recorded at 18.1%, the operating margin at 19.8%, and the profit margin at 10.3%; these figures collectively demonstrate that for every dollar of revenue, the company retains approximately 10 cents as net profit after covering all operational and tax obligations. In terms of leverage, the company holds $3.13B in cash against $20.31B in total debt, resulting in a debt-to-equity ratio of 87.94%, which indicates a highly leveraged balance sheet typical of capital-intensive utility businesses. The current ratio is 0.98, suggesting that short-term liquid assets are slightly below short-term liabilities, implying a need for careful management of working capital to meet immediate obligations. Return on Equity is 11.0% and Return on Assets is 5.1%, metrics that reveal management's effectiveness in generating returns relative to the shareholders' equity and the total asset base employed in operations.
バリュエーション評価
Valuation metrics show a trailing P/E ratio of 18.77 and a forward P/E of 18.40, where the slight difference implies that the market expects earnings to grow marginally or remain stable in the near future rather than seeing a drastic acceleration. The price-to-book ratio is 8.77, indicating that the stock trades at a significant premium over its book value, likely reflecting the utility's stable cash flows, regulated franchise value, and the intangible benefits of its monopoly-like status in specific regions. Alternative valuation multiples include a price-to-sales ratio of 0.37 and an EV/EBITDA of 9.04, which suggest the company is priced relatively conservatively when measured against sales and enterprise value adjusted for earnings before interest, taxes, depreciation, and amortization. The stock has a 52-week high of $13.15 and a 52-week low of $6.13, providing a clear trading range within which the current market price fluctuates based on daily liquidity and sector-specific sentiment. With a beta of 0.33, the security exhibits low price volatility relative to the broader market, making it behave more like a defensive asset that moves less than the overall stock index during periods of market turbulence.
Growth & Income
Growth dynamics are characterized by a revenue growth rate of 19.4% year-over-year and an earnings growth rate of 88.3% year-over-year, indicating that earnings are expanding at a much faster pace than revenue, which often points to operational efficiencies, cost reductions, or a restructuring of the cost base rather than pure volume expansion. As a dividend payer, the company offers a yield of 4.6% but maintains a payout ratio of 136.7%, a figure that exceeds 100% and suggests that dividends are being funded partially by debt servicing or cash reserves rather than solely by current earnings, raising questions regarding long-term sustainability without a reduction in payouts. The substantial disparity between the high payout ratio and the rapid earnings growth suggests that while the dividend is attractive, it may not be fully supported by the current year's earnings alone. Overall, the company presents a profile of strong earnings acceleration paired with a high-yield dividend, though the leverage on the balance sheet and the payout ratio require close monitoring to ensure long-term capital preservation.