Visão geral da empresa
A Companhia de Saneamento Básico do Estado de São Paulo - SABESP operates within the Utilities sector, specifically focusing on the Regulated Water industry, where it provides essential basic and environmental sanitation services throughout the state of São Paulo, Brazil. The company functions primarily on a wholesale basis, supplying treated water and sewage services to its extensive network of clients. As of December 31, 2024, SABESP demonstrated significant scale with a market capitalization of $23.31B and generated annual revenue of $38.09B, while employing 9,204 individuals across its operations. These valuation and revenue figures indicate that SABESP holds a substantial position within the Brazilian utility landscape, reflecting its critical role in delivering public infrastructure services to millions of residents and businesses.
Saúde financeira
The financial performance of SABESP over the trailing twelve months is characterized by a revenue stream of $38.09B, which resulted in a net income of $8.46B and an EBITDA of $14.53B. The substantial gap between the $38.09B in revenue and the $8.46B in net income reveals a cost structure where operating expenses and taxes consume a significant portion of gross earnings before arriving at the bottom line. However, the company reports a negative free cash flow of $-4,160,945,408, which indicates that capital expenditures for infrastructure maintenance and expansion are currently outpacing cash generated from operations, impacting short-term financial flexibility. Despite this cash outflow, the entity maintains a robust cash balance of $12.37B, which provides a buffer against liquidity needs and operational volatility. Profitability efficiency is highlighted by a gross margin of 37.0%, an operating margin of 34.6%, and a profit margin of 22.2%, suggesting strong pricing power or regulatory rate structures that support healthy profitability. The balance sheet shows a debt level of $40.14B against $12.37B in cash, resulting in a debt-to-equity ratio of 94.67%, which signifies a highly leveraged capital structure typical of capital-intensive utility firms. Liquidity management is further assessed by a current ratio of 1.12, indicating that current assets slightly exceed current liabilities to meet short-term obligations. Finally, the return metrics show a return on equity of 21.3% and a return on assets of 8.5%, revealing that management is effectively utilizing shareholder equity to generate returns, though the return on assets suggests the high asset base required for utility operations dilutes overall asset efficiency.
Avaliação de valorização
Valuation multiples for SABESP show a trailing P/E ratio of 13.21 and a forward P/E of 10.47, implying that the market expects earnings to grow in the future, thereby lowering the multiple needed to justify the stock price. The price-to-book ratio stands at 2.73, indicating that the market values the company at a significant premium above its net book value, reflecting intangible assets or future growth expectations inherent in regulated utilities. Alternative valuation metrics such as the price-to-sales ratio of 0.61 and the EV/EBITDA of 3.44 suggest that the stock is priced conservatively relative to its sales and earnings power when adjusted for enterprise value. Regarding trading range, the stock has a 52-week high of $31.84 and a 52-week low of $16.52; without a specific current price provided in the data, the valuation range defines the historical volatility boundaries for the share. The beta value is recorded at 0.20, which indicates that the stock exhibits very low price volatility relative to the broader market, making it less sensitive to general market swings.
Growth & Income
Growth dynamics are evident in the year-over-year figures, with revenue growth of 43.9% and earnings growth of 87.2%, demonstrating that earnings are expanding significantly faster than revenue. This divergence implies that the company is benefiting from improved operational leverage, cost efficiencies, or favorable regulatory adjustments that amplify profit growth relative to top-line expansion. Regarding income distribution, SABESP offers a dividend yield of 0.5% with a payout ratio of 50.2%, suggesting that the company distributes roughly half of its earnings to shareholders while retaining the remainder for capital investment. The sustainability of this payout appears supported by the strong earnings growth rate, which provides a buffer to cover the dividend even if revenue fluctuates. In summary, SABESP presents a growth and income profile defined by rapid earnings acceleration, a modest but consistent dividend yield, and a capital allocation strategy that balances shareholder returns with necessary infrastructure reinvestment.