1. Brazil Stocks

  2. •

    Utilities

  3. •

    Regulated Electric
CPFL Energia S.A.

CPFL Energia S.A.

CPFE3.SA
CPFL Energia S.A.BR flagB3 S.A.
45.05
BRL
-0.64
- -
51.91BMarket Cap
CPFL Energia S.A.
CPFE3.SA
(B3 S.A.)

Recent

price

45.05

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
11.82
12.45
14.63
14.38
17.09
20.24
18.78
26.27
27.64
27.52
26.82
34.03
34.15
34.49
37
38.51
39.1
Revenue per Share
1.57
1.47
1.16
0.92
0.93
0.85
0.89
1.16
2.02
2.48
3.16
4.12
4.43
4.8
4.74
4.76
5
Basic EPS, GAAP
0.22
0.49
-0.46
0.77
0.52
1.11
2.35
-0.53
0.55
5.11
5.05
2.85
7.45
7.12
5.43
5.88
5.4
Free Cash Flow per Basic Share
1.42
1.22
1.38
0.82
1
0.01
0.23
0.33
0.32
0.49
1.84
3.73
3.36
3.1
3.02
3.05
3.06
Dividend per Share
4.71
5.04
5.09
4.82
4.71
5.44
5.64
5.64
5.64
8.63
8.15
8.15
8.15
8.15
8.15
8.15
9.74
Book Value per Share
0.16
0.12
-1.27
0.05
0.46
0.9
-0.4
0.59
3.02
3.64
4.57
6.19
6.62
9.57
12.12
14.42
16.35
Tangible Book Value per Share
1,017
1,018
1,018
1,018
1,018
1,018
1,018
1,018
1,018
1,088
1,152
1,152
1,152
1,152
1,152
1,152
1,152
Basic Weighted Avg Shares
12,024
12,674
14,891
14,634
17,399
20,599
19,112
26,745
28,137
29,932
30,898
39,211
39,354
39,743
42,628
44,368
45,054
Sales/Revenue/Turnover
22.75
20.8
16.07
15.53
15.4
13.13
13.73
11.76
13.82
15.22
15.7
18.09
23.99
26.62
25.59
25.34
24.69
Operating Margin (%)
692
681
979
1,055
1,160
1,280
1,291
1,529
1,594
1,681
1,666
1,751
2,031
2,250
2,303
2,397
2,423
Depreciation Expense
1,595
1,493
1,176
937
949
865
901
1,180
2,058
2,703
3,643
4,748
5,100
5,527
5,458
5,484
5,763
Net Income, GAAP
34.58
32.95
35.73
37.53
41.31
39.82
36.33
32.69
26.33
31.06
22.73
26.63
28.7
30.98
28.77
29.03
26.51
Effective Tax Rate (%)
13.27
11.78
7.9
6.41
5.46
4.2
4.71
4.41
7.31
9.03
11.79
12.11
12.96
13.91
12.8
12.36
12.79
Profit Margin (%)
-530
1,009
575
2,359
1,798
2,984
2,361
-1,797
987
275
-594
2,639
301
-1,711
-819
-1,260
2,505
Working Capital
7,130
10,294
13,448
15,108
15,563
17,956
18,621
14,876
17,013
15,451
14,882
20,899
23,500
21,925
25,871
28,553
30,088
LT Debt
6,750
8,658
7,891
8,799
9,397
10,130
10,373
11,186
12,532
13,283
14,236
16,806
17,540
19,999
21,795
23,505
25,385
Total Equity
11.66
9.64
6.98
5.79
5.82
5.4
5.16
6.54
8.79
9.49
10.87
13.23
15.01
14.64
14.45
14.01
13.83
Return on Invested Capital (%)
14.66
12.63
9.07
7.55
7.78
6.78
6.85
7.61
10.39
12.11
14.08
15.79
16.96
17.83
16.72
16.6
16.36
Return on Capital (%)
33.09
30.09
22.83
18.6
19.58
16.75
15.98
20.55
35.85
35.73
38.81
50.58
54.32
58.87
58.13
58.42
51.97
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
5,424
4,915
5,880
LT Borrowings
28,943
28,553
30,088
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,152
1,152
1,152
Market Capitalization
45,399
61,404
56,184

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
18,521
16,616
19,687
Cash, Cash Equivalents & STI
6,565
4,347
7,484
Accounts Receivable, Net
5,927
6,244
6,342
Inventories
235
237
246
Total Current Liabilities
18,419
17,876
17,183
Payables & Accruals
- -
- -
- -
ST Debt
5,424
4,915
5,880
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
8.87%
10.65%
7.84%
Free Cash Flow
77.3%
19.55%
8.22%
Net Income, GAAP
22.1%
9.07%
0.49%
Sales/Revenue/Turnover
8.71%
7.92%
4.08%
Total Cash Common Dividend
484.04%
16.8%
1.15%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
10,166
9,662
10,854
11,946
42,628
2025
10,655
10,549
11,329
11,834
44,368
2026
11,342
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.45
0.91
1.1
- -
4.74
2025
1.35
0.98
1.14
- -
4.76
2026
1.59
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.01
1.66
0.63
- -
3.02
2025
- -
0.89
1.05
- -
3.05
2026
0.01
- -
- -
- -
- -
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Business
CPFL Energia S.A. CPFL Energia S.A. engages in the generation, transmission, distribution, commercialization, and services related to electricity in Brazil. The company operates through segments including distribution via subsidiaries such as CPFL Paulista, CPFL Piratininga, and RGE serving approximately 10.7 million customers across 687 municipalities in states like São Paulo, Rio Grande do Sul, Paraná, and Minas Gerais with a 13% national market share; generation encompassing 4,226 MW of installed capacity from hydroelectric, wind, solar, biomass, and thermoelectric sources including complexes like Serra da Mesa, Barra Grande, and Campos Novos; transmission through CPFL Transmissão featuring projects from ANEEL auctions such as Lot 3 with BRL 81 million RAP and BRL 1.69 billion CapEx; commercialization to free consumers, producers, and traders; and value-added services via CPFL Soluções covering energy efficiency, distributed generation, infrastructure, fleet management, human resources, IT, and consultancy. CPFL Energia S.A. maintains nationwide operations targeting residential, commercial, industrial, and institutional customers in key economic centers. Founded in 1912 through the merger of precursor companies and headquartered in Campinas, São Paulo, the company functions as a subsidiary of State Grid Brazil Power Participações S.A., ultimately controlled by State Grid Corporation of China. Recent developments include winning Lot 3 in a major transmission auction in 2025 for strategic expansion; signing a loan agreement with the New Development Bank in March 2025 for CPFL Paulista's power distribution upgrades marking its first RMB transaction and first NDB credit as a Chinese-funded entity in Brazil; approving a 2025-2029 investment plan of R$29.8 billion in late 2024 focused on existing businesses with R$24.7 billion for distribution; acquiring additional 3.39% of Campos Novos Energia S.A. in November 2022 bringing subsidiary CPFL Geração's stake to 52.12%; and completing squeeze-outs for CPFL Renováveis in 2020 and CPFL Transmissão in 2022 to streamline ownership.