Alupar Investimento S.A.

Alupar Investimento S.A.

ALUP3.SA
Alupar Investimento S.A.BR flagB3 S.A.
11.50
BRL
-0.31
- -
17.32BMarket Cap
Alupar Investimento S.A.
ALUP3.SA
(B3 S.A.)

Recent

price

11.50

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
4.77
6.18
6.12
1.72
1.96
2.12
2.03
1.56
1.9
4.64
6.21
5.29
3.88
3.39
4.05
4.5
3.55
Revenue per Share
0.98
0.97
1.12
0.39
0.48
0.3
0.41
0.33
0.39
0.9
0.95
1.13
0.93
0.71
1.1
1.24
0.64
Basic EPS, GAAP
0.23
-1.84
-0.39
-0.36
0.28
-0.17
0.51
0.63
0.22
-0.26
-0.8
1.05
2.32
2.41
2.26
2.05
1.54
Free Cash Flow per Basic Share
0.72
1.43
1.41
0.49
1.37
0.67
0.64
0.44
0.51
0.45
0.66
0.89
1.08
1.14
0.96
0.9
0.82
Dividend per Share
6.83
4.09
4.09
2.17
2.17
2.31
2.81
3.02
3.02
3.02
3.02
3.02
3.02
3.39
3.73
4.11
4.33
Book Value per Share
11.72
14.09
15.01
5.29
4.97
5.57
5.77
5.52
6.18
7.44
8.85
9.83
10.22
10.61
11.49
12.4
12.64
Tangible Book Value per Share
196
196
196
749
749
703
765
989
989
989
989
989
989
977
989
978
978
Basic Weighted Avg Shares
936
1,214
1,201
1,291
1,470
1,494
1,554
1,538
1,883
4,592
6,141
5,234
3,834
3,311
4,002
4,398
3,466
Sales/Revenue/Turnover
69.93
60.84
71.31
73.23
70.68
70.97
78.17
68.09
61.53
50.87
54.07
71.64
74.17
69.96
68.55
63.97
60.2
Operating Margin (%)
4
24
34
35
39
74
88
99
102
113
135
140
150
154
178
186
153
Depreciation Expense
192
191
220
290
363
209
311
331
387
890
942
1,115
918
694
1,086
1,216
625
Net Income, GAAP
19.14
18.51
16.71
16.4
6.94
12.06
14.97
10.64
18.94
24.78
28.05
25.89
12.42
22.24
4.2
22.72
22.31
Effective Tax Rate (%)
20.57
15.7
18.35
22.45
24.69
14
20
21.51
20.54
19.39
15.34
21.31
23.96
20.96
27.14
27.64
18.04
Profit Margin (%)
796
637
697
945
1,074
393
800
1,892
3,457
3,356
1,794
1,953
2,834
2,171
3,190
3,681
5,780
Working Capital
2,001
2,236
2,633
2,564
3,436
3,515
3,383
3,672
5,697
7,674
8,180
9,135
10,521
9,677
10,751
11,161
13,073
LT Debt
2,392
2,879
3,074
4,102
3,878
4,067
4,558
5,607
6,262
7,540
8,945
10,002
10,372
10,629
11,724
12,577
12,830
Total Equity
11.22
11.37
11.67
11.33
12.55
11.16
11.47
9.5
8.08
12.14
13.94
14.52
11.73
8.03
11.13
8.7
6.17
Return on Invested Capital (%)
-0.78
2.92
1.91
1.83
3.44
3.08
3.44
3.07
2.74
3.06
0.76
4.82
6.98
6.27
7.74
8.62
4.54
Return on Capital (%)
15.23
17.76
27.41
23.86
22.32
12.87
16.47
12.9
12.97
29.86
31.59
37.4
30.8
22.06
31.03
31.52
15.22
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
1,451
1,499
LT Borrowings
- -
11,143
13,057
LT Finance Leases
- -
18
16
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
989
989
989
Market Capitalization
11,253
11,580
12,858

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
6,226
8,298
Cash, Cash Equivalents & STI
- -
3,229
5,246
Accounts Receivable, Net
- -
187
191
Inventories
- -
10
11
Total Current Liabilities
- -
2,544
2,518
Payables & Accruals
- -
- -
- -
ST Debt
- -
1,451
1,499
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
12.14%
7.12%
7.28%
Free Cash Flow
-57.3%
-24.51%
-10.37%
Net Income, GAAP
25.27%
8.94%
11.92%
Sales/Revenue/Turnover
17.86%
-4.88%
9.89%
Total Cash Common Dividend
8.18%
7.45%
-8.02%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
997
954
929
1,123
4,002
2025
1,224
1,047
- -
1,164
4,398
2026
1,256
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.26
0.26
0.54
0.23
1.1
2025
0.3
0.15
- -
- -
1.24
2026
0.2
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.04
0.11
0.63
0.4
0.96
2025
0.08
0.45
- -
- -
0.9
2026
0.22
- -
- -
- -
- -
Business
Alupar Investimento S.A. operates as a holding company primarily engaged in the generation and transmission of electric energy, catering to electricity distributors in Brazil and various Latin American countries including Chile, Peru, and Colombia. The company’s core offerings encompass a diversified portfolio of hydroelectric power plants, wind farms, and photovoltaic power plants, with a total installed capacity of approximately 798.5 MW, alongside a robust network of electric energy transmission lines. Alupar’s revenue model principally relies on long-term concession contracts with regulatory frameworks guaranteed by the Brazilian government, providing stable and predictable cash flows. The company also engages in infrastructure development linked to electricity transmission and generation assets, offering consulting and project management services within the energy sector. Founded in 2007 and headquartered in São Paulo, Brazil, Alupar operates under two primary segments: Transmission and Generation, and is a subsidiary of Guarupart Participações Ltda. Recent significant developments include the strategic acquisition of Rialma Transmissora de Energia IV S.A. for R$175.4 million, expanding Alupar's transmission network in Bahia, Brazil. The acquisition adds 162 kilometers of transmission lines and contributes an estimated annual permitted revenue of R$20.6 million for 2024-2025. Beyond Brazil, Alupar has notably advanced its international footprint by acquiring multiple transmission projects in Peru, totaling $443 million in investments, and is actively investing in water-related projects with projected capital expenditures amounting to $732 million anticipated to generate more than $100 million in additional revenue by 2029. The company reported substantial financial performance improvements in 2024, with quarterly revenues reaching approximately BRL 928 million and EBITDA growing to BRL 693 million, driven by operational efficiency and growth in its generation segment. Alupar also announced increased dividend payments and maintains a strong project pipeline across Latin America, with upcoming capital expenditures planned for Peru, Chile, and Colombia, aligned with dollar-indexed contracts and expected operational commencement within roughly five years. Alupar Investimento S.A. stands as a key infrastructure player in the Latin American energy sector, distinguished by its balanced approach between renewable energy generation and transmission infrastructure development aimed at enhancing energy security and sustainability in the regions it serves. The company emphasizes disciplined capital allocation and strategic expansion to reinforce its market presence and support the ongoing energy transition toward renewables. It employs over 900 professionals and continues to benefit from a stable regulatory environment that fosters long-term investments in energy infrastructure.