Energy Co of Minas Gerais (CIG.C) stock analysis
Close on Oct 29, 2026Market cap $8.96BP/E –Yield –
StockData Score
Prices as of Oct 30, 2026How the score works
Weak7 of 30 checks passed
Energy Co of Minas Gerais passes 7 of the 30 checks behind our score; 16 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 0/6
- Growth
- 0/6
- Past performance
- 4/6
- Financial health
- 3/6
- Dividend
- 0/6
What stands out
Return on equity over 15%
Return on equity was 17.5% over the last twelve months and averaged 22.0% over five years.
Earnings grew over 5 years
Net income grew 11.3% a year on average over the last five fiscal years.
Debt covered by cash flow
Operating cash flow over the last twelve months equals 20.9% of total debt.
Return on equity above the industry
Energy Co of Minas Gerais's return on equity of 17.5% is above the Electric Services median of 8.3%.
What to watch
High debt
Debt is 68.1% of shareholders' equity, above the 40% we consider low.
Revenue growing under 10% a year
Revenue grew 7.4% a year over the last three fiscal years, short of the 10% we look for.
Earnings growth not accelerating
Net income grew -31.2% over the last twelve months, against a 5-year average of 11.3% a year.
Growing slower than the industry
Revenue grew 7.4% over the last twelve months; the Electric Services median is 7.8%.
Valuation0/6
P/E against its history
Not enough price and earnings history to compare.
P/E against the industry
Needs positive earnings and enough profitable companies in the industry.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/B against the industry
Needs positive book value.
Price against fair value
We could not estimate a fair value: it needs at least two valuation methods with positive inputs.
Margin of safety
Depends on the fair value estimate.
Growth0/6
Revenue growing under 10% a year
Revenue grew 7.4% a year over the last three fiscal years, short of the 10% we look for.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings growth not accelerating
Net income grew -31.2% over the last twelve months, against a 5-year average of 11.3% a year.
Growing slower than the industry
Revenue grew 7.4% over the last twelve months; the Electric Services median is 7.8%.
Company guidance
No outlook found in earnings releases from the last twelve months.
Gross margin slipping
Gross margin was 16.9% over the last twelve months, against 20.5% a year earlier.
Past performance4/6
Return on equity over 15%
Return on equity was 17.5% over the last twelve months and averaged 22.0% over five years.
Return on invested capital
Needs operating income and invested capital.
Return on equity above the industry
Energy Co of Minas Gerais's return on equity of 17.5% is above the Electric Services median of 8.3%.
Earnings grew over 5 years
Net income grew 11.3% a year on average over the last five fiscal years.
Net margin below its 5-year average
Net margin was 11.5% over the last twelve months, against a 5-year average of 13.6%.
Net margin above the industry
Energy Co of Minas Gerais's net margin of 11.5% is above the Electric Services median of 8.8%.
Financial health3/6
High debt
Debt is 68.1% of shareholders' equity, above the 40% we consider low.
Debt falling against equity
Debt to equity fell from 86.0% five years ago to 68.1%.
Debt covered by cash flow
Operating cash flow over the last twelve months equals 20.9% of total debt.
Interest coverage
Interest expense is not reported separately.
Short-term assets cover short-term debts
Current assets are 1.00 times current liabilities.
Bankruptcy risk (Altman Z)
Needs market value, working capital and retained earnings.
Dividend0/6
No dividend
Energy Co of Minas Gerais has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itWe don't publish a fair value for Energy Co of Minas Gerais. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Medium risk
- Average value traded per day
- $12.46M
- Value traded per 1% price move
- $5.50M
Downside
Medium risk
- Typical loss in a bad month
- 15.8%
- Volatility (annualized)
- 37%
- Sharpe ratio, 1 year
- -0.44
- Beta to the S&P 500 (5Y)
- 0.53
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2015 to 2025
Gross margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +7.4% | +7.4% | +11.1% | +6.9% | |
| Gross profit | -11.3% | +2.0% | +6.1% | +1.7% | |
| Net income | -31.2% | +6.2% | +11.3% | +7.1% | |
| Free cash flow | -30.0% | -19.1% | -16.8% | +1.6% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 17.2% | 17.5% | |
| Return on assets | – | 5.5% | 7.7% | |
| Current ratio | 0.72 | 1.60 | 1.00 | |
| Debt to equity | 1.17 | 0.86 | 0.68 | |
| Inventory turnover | – | – | – | |
| Capex to revenue | 0.6% | 0.5% | 1.6% |
Where the cash went
Fiscal 2021 to 2025, five years combined
Energy Co of Minas Gerais generated 26.45B BRL from operations and spent 2.80B BRL on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 11.5% | 0.67× | 2.27× | 17.5% |
| FY2024 | 17.9% | 0.69× | 2.21× | 27.4% |
| FY2023 | 15.6% | 0.68× | 2.34× | 24.8% |
| FY2022 | 11.9% | 0.65× | 2.56× | 19.8% |
| FY2021 | 11.1% | 0.63× | 2.87× | 20.3% |
| FY2020 | 11.4% | 0.48× | 3.14× | 17.2% |
| FY2019 | -12.5% | 0.46× | 3.62× | -21.0% |
| FY2018 | 7.6% | 0.44× | 3.53× | 11.8% |
| FY2017 | 4.6% | 0.52× | 3.09× | 7.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero4.90B BRL
- Cash generatingOperating cash flow above zero4.08B BRL
- Return on assets improvedROA up on the prior year12.9% → 8.2%
- Earnings backed by cashOperating cash flow above net income4.08B BRL vs 4.90B BRL
- Less leverageLong-term debt to assets fell15.7% → 24.5%
- Better liquidityCurrent ratio rose0.86 → 1.00
- No dilutionShare count did not rise– → –
- Gross margin improvedGross margin up on the prior year20.48% → 16.93%
- More efficientAsset turnover rose0.72 → 0.72