CIGNYSEElectric ServicesFiscal year ends December 31Also trades as CIG.C
ENERGY CO OF MINAS GERAIS
Financials through fiscal 2024, year ended Dec 31, 2024Last filing: 20-F on Apr 17, 2026
$2.28−0.04 (-1.72%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2015 to 2024
Gross margin
20.5%−2.6 pts over 5 years
Net margin
17.9%+30.4 pts over 5 years
Growth rates
Compound annual growth to fiscal 2024
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +8.1% | +5.8% | +9.3% | – | |
| Gross profit | -2.7% | +6.7% | +6.7% | – | |
| Net income | +23.5% | +23.8% | – | – | |
| Free cash flow | -13.4% | +11.3% | +19.7% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2015 | FY2019 | FY2024 | Trend |
|---|---|---|---|---|
| Return on equity | – | -21.0% | 27.4% | |
| Return on assets | – | -5.8% | 12.4% | |
| Current ratio | – | 1.31 | 0.86 | |
| Debt to equity | – | 0.93 | 0.45 | |
| Inventory turnover | – | 522.6× | – | |
| Capex to revenue | 0.6% | 0.3% | 1.7% |
Where the cash went
Fiscal 2020 to 2024, five years combined
Energy Co Of Minas Gerais generated 30.98B BRL from operations and spent 2.83B BRL on capital expenditure, dividends and share buybacks. 79% of that went back into the business.
Generated
30.98B BRL
Used
2.83B BRL
Capital expenditure2.23B BRL79%Dividends598.00M BRL21%Share buybacks0 BRL0%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin17.9%
×Asset turnover0.69×
×Equity multiplier2.21×
=Return on equity, FY202427.4%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| 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 2024 against fiscal 2023
4of 8 tests passed in fiscal 2024. Some tests lack the figures they need.
- ProfitableNet income above zero7.12B BRL
- Cash generatingOperating cash flow above zero5.50B BRL
- Return on assets improvedROA up on the prior year10.7% → 12.9%
- Earnings backed by cashOperating cash flow above net income5.50B BRL vs 7.12B BRL
- Less leverageLong-term debt to assets fell13.1% → 15.7%
- Better liquidityCurrent ratio rose0.91 → 0.86
- No dilutionShare count did not rise– → –
- Gross margin improvedGross margin up on the prior year22.75% → 20.48%
- More efficientAsset turnover rose0.69 → 0.72