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    Regulated Water
Companhia de Saneamento do Paraná - SANEPAR

Companhia de Saneamento do Paraná - SANEPAR

SAPR4.SA
Companhia de Saneamento do Paraná - SANEPARBR flagB3 S.A.
7.01
BRL
-0.18
- -
12.38BMarket Cap
Companhia de Saneamento do Paraná - SANEPAR
SAPR4.SA
(B3 S.A.)

Recent

price

7.01

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
1.19
1.36
1.66
1.8
1.75
1.98
2.3
2.4
2.58
2.93
2.98
3.23
3.52
12.49
13.59
4.77
5.61
Revenue per Share
0.11
0.22
0.26
0.31
0.28
0.29
0.41
0.43
0.55
0.67
0.62
0.73
0.71
0.93
0.96
0.43
0.75
Basic EPS, GAAP
0.06
0.19
0.2
0.01
-0.12
0.58
0.73
0.84
0.84
0.91
0.39
0.24
0.15
0.91
1.72
2.94
3.7
Free Cash Flow per Basic Share
- -
0.03
0.09
0.16
0.09
0.13
0.13
0.17
0.19
0.24
0.19
0.17
0.19
0.77
0.8
0.27
- -
Dividend per Share
0.67
1.41
1.41
1.98
1.73
1.73
1.88
1.77
1.77
1.77
2.48
2.48
2.48
11.9
11.9
3.97
4.85
Book Value per Share
1.68
1.73
1.74
-1.46
-1.62
-1.72
-1.58
-1.64
-0.76
-0.65
-0.61
-0.44
-0.1
-1.19
-1.51
-0.17
-0.04
Tangible Book Value per Share
1,242
1,280
1,280
1,314
1,499
1,503
1,511
1,612
1,612
1,612
1,612
1,612
1,612
504
504
1,511
1,310
Basic Weighted Avg Shares
1,480
1,742
2,123
2,370
2,617
2,971
3,478
3,869
4,162
4,723
4,800
5,204
5,674
6,293
6,848
7,206
7,347
Sales/Revenue/Turnover
29.32
28.87
27.16
27.2
25.56
24.16
27.85
29.76
33.18
35.95
33.81
36.53
31.9
37.85
34.95
2.18
-1.56
Operating Margin (%)
144
148
149
160
175
194
217
247
271
337
362
394
433
480
560
626
647
Depreciation Expense
136
284
336
403
422
438
627
686
892
1,080
996
1,178
1,152
1,503
1,545
2,080
1,224
Net Income, GAAP
26.36
22.75
24.63
25.95
23.51
18.85
20.61
24.93
23.39
25.71
27.05
26.56
25.49
25.73
25.78
9.69
30.12
Effective Tax Rate (%)
9.15
16.32
15.81
17
16.11
14.76
18.03
17.73
21.44
22.87
20.76
22.63
20.3
23.89
22.57
28.86
16.66
Profit Margin (%)
-64
-85
38
57
-206
-3
340
-17
-294
-121
307
674
840
807
1,446
1,198
535
Working Capital
840
774
830
1,354
1,628
2,105
2,333
2,154
2,293
2,723
3,126
3,713
4,508
5,107
6,047
6,395
5,911
LT Debt
2,180
2,310
2,429
3,567
3,801
4,180
4,809
5,153
5,717
6,174
6,943
7,826
8,787
9,744
10,829
12,348
12,700
Total Equity
10.25
11.96
12.96
11.23
9.48
9.48
10.87
11.14
12.83
14.08
11.83
12.3
10.37
11.95
10.7
0.76
-0.41
Return on Invested Capital (%)
11.2
15.01
14.17
13.5
11.88
12.04
14.88
14.87
18.57
21.6
17.04
17.53
16.83
17.5
15.76
20.14
12.08
Return on Capital (%)
16.29
21.6
18.65
18.32
16.23
16.88
23.02
24.08
31.3
37.88
29.1
29.47
28.82
9.4
8.05
10.84
14.4
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
945
997
1,370
LT Borrowings
5,901
5,971
5,508
LT Finance Leases
410
424
403
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,511
1,511
1,511
Market Capitalization
9,008
10,255
11,146

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
7,487
7,223
7,026
Cash, Cash Equivalents & STI
5,851
5,601
5,313
Accounts Receivable, Net
1,216
1,175
1,220
Inventories
77
97
80
Total Current Liabilities
5,869
6,025
6,491
Payables & Accruals
- -
- -
- -
ST Debt
945
997
1,370
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
11.46%
12.21%
14.03%
Free Cash Flow
51.33%
102.67%
413.21%
Net Income, GAAP
17.96%
16.78%
34.57%
Sales/Revenue/Turnover
9.34%
8.48%
5.22%
Total Cash Common Dividend
-18.88%
-49.95%
54.24%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,698
1,664
1,710
1,776
6,848
2025
1,805
1,705
1,804
1,891
7,206
2026
1,946
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.24
0.23
0.23
- -
0.96
2025
2.4
0.16
0.15
0.07
0.43
2026
0.7
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.8
2025
- -
- -
- -
- -
0.27
2026
- -
- -
- -
- -
- -
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Business
Companhia de Saneamento do Paraná - SANEPAR (SAPR4.SA) provides basic sanitation services in Brazil, primarily water withdrawal, treatment, storage and distribution; sewage collection and treatment; solid waste management through operation of three municipal sanitary landfills in Cianorte, Apucarana and Cornélio Procópio; studies, projects and construction of new facilities; expansion of water distribution and sewage networks; and technical consulting and advisory services in these areas, serving residential, commercial and industrial customers including federal, state and municipal agencies across 345 municipalities in Paraná state and Porto União in Santa Catarina. Founded in 1963 and headquartered in Curitiba, Paraná, the company operates 231 surface water collection points, 168 water treatment plants, 1,191 wells, 265 sewage treatment plants, 34 sewage sludge treatment plants and 57 sludge management units, achieving 100% treated water service and 100% sewage treatment for collected volumes with an urban sewage collection coverage of 80.2% as of 2023. Recent developments include signing the first public-private partnership agreement following a B3 auction for sewage services in the Center-Coast Microregion with BRL 1.1 billion in investments; submission of bids for PPPs in 112 municipalities across West and Center-East Microregions; full acquisition and merger of CS Bioenergia S.A. (now Usina de Bioenergia - ETE Belém) to boost biogas and energy production from organic waste and sewage sludge; issuance of BRL 400 million in Blue Bonds to fund water supply and sewage projects; approval of a BRL 11.2 billion multi-year investment plan for 2024-2028 focused on universal sewage access, water quality and environmental compliance; inclusion in B3's Corporate Sustainability Index (ISE) for the second year and new Diversity Index (IDIVERSA); and strategic partnerships such as with Parque Tecnológico de Itaipu for sustainable sewage systems, Superbac for sludge-based fertilizers and international collaborators in Germany for renewable hydrogen production from biomethane.