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CPFL Energia (CPFE) USD

At a glance: strengths & risks
✓Revenue growing (+16% y/y, Q2 2026)✓Profit growing (+33% y/y, Q2 2026)✓Margins improving (29%→32%, Q2 2026)

Sector: Utilities

BR_CPFE

Price chart

41.9 BRLDay -1.43%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
41.9 BRL · -1.43%
Market cap
8.9 bn USD

Growth

Δ revenue y/y
15.6%
Δ EBITDA y/y
29.0%

Multiples

P/E (LTM)
7.4x
3y avg: 8.4x
P/B (FY)
2.1x
P/E (ann.)
7.8x
EV/EBITDA (LTM)
5.3x
3y avg: 5.4x
EV/EBITDA (ann.)
5.1x

Cash return

Dividend yield
8.9%
FCF yield (LTM)
13.9%

Liquidity

Daily turnover (listing)
100.9 mln BRL

Shares: yahoo_fundamentals_timeseries/CPFE3.SA

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-06-30Q2 2026 (3M)PARTIAL2187.3
y/y 15.6%
574.4
y/y 32.1%
125.9
y/y 16.5%
700.3
y/y 29.0%
283.2
y/y 33.1%
336.9-21.116434.5
y/y 15.6%
4662.1
y/y 15.8%
23.3%5428.0Link
2026-03-31Q1 2026 (3M)PARTIAL2260.4
y/y 19.2%
646.7
y/y 11.4%
122.7
y/y 16.8%
769.4
y/y 12.3%
380.6
y/y 32.4%
304.6-9.516739.5
y/y 19.5%
5059.3
y/y 21.7%
32.6%5174.3Link
2025-12-31Q4 2025 (3M)PARTIAL2161.0
y/y 11.8%
511.8
y/y 17.3%
110.4
y/y 17.6%
622.2
y/y 17.3%
285.8
y/y 12.1%
229.1-24.314809.5
y/y 18.6%
4292.1
y/y 21.7%
24.1%4775.3Link
2025-09-30Q3 2025 (3M)PARTIAL2105.0
y/y 11.7%
476.6
y/y 6.9%
111.5
y/y 9.4%
588.0
y/y 7.4%
255.7
y/y 10.6%
356.9-23.515319.2
y/y 16.9%
4401.4
y/y 18.2%
24.3%4249.3Link
2025-06-30Q2 2025 (3M)PARTIAL1892.1
y/y 9.9%
435.0
y/y 7.7%
108.1
y/y 6.3%
543.1
y/y 7.4%
212.7
y/y 8.5%
339.7-12.114212.1
y/y 7.7%
4024.4
y/y 12.1%
20.8%4434.0Link
2025-03-31Q1 2025 (3M)PARTIAL1895.9
y/y -4.6%
580.4
y/y -10.0%
105.0
y/y -5.1%
685.3
y/y -9.3%
287.4
y/y -16.2%
372.5-11.314005.3
y/y -5.1%
4158.3
y/y -1.8%
29.9%4317.2Link
2024-12-31Q4 2024 (3M)PARTIAL1933.7
y/y -11.2%
436.4
y/y -16.0%
93.9
y/y -23.9%
530.2
y/y -17.5%
254.8
y/y -7.1%
316.7-24.412484.7
y/y -19.4%
3527.9
y/y -14.6%
25.7%4085.7Link
2024-09-30Q3 2024 (3M)PARTIAL1883.7
y/y -4.7%
445.7
y/y -12.7%
101.8
y/y -7.7%
547.6
y/y -11.8%
231.1
y/y -11.2%
346.7-26.813108.5
y/y -10.3%
3724.6
y/y -3.4%
25.3%4295.7Link
2024-06-30Q2 2024 (3M)PARTIAL1721.9
y/y -13.4%
403.9
y/y -23.6%
101.7
y/y -13.6%
505.6
y/y -21.8%
196.1
y/y -25.7%
411.3-23.513193.3
y/y -14.0%
3591.2
y/y -11.0%
20.1%4307.3Link
2024-03-31Q1 2024 (3M)PARTIAL1986.7
y/y 0.7%
644.8
y/y 7.5%
110.6
y/y 2.2%
755.4
y/y 6.7%
343.0
y/y 3.6%
102.9-18.414762.7
y/y 1.6%
4232.7
y/y 10.0%
32.8%4361.8Link
2023-12-31Q4 2023 (3M)PARTIAL2178.2
y/y —
519.5
y/y —
123.4
y/y —
642.9
y/y —
274.2
y/y —
405.1-56.615493.3
y/y —
4132.9
y/y —
28.6%4320.0Link
2023-09-30Q3 2023 (3M)PARTIAL1976.8
y/y —
510.7
y/y —
110.4
y/y —
621.1
y/y —
260.1
y/y —
381.5-37.714620.2
y/y —
3856.5
y/y —
26.4%3849.7Link
2023-06-30Q2 2023 (3M)PARTIAL1987.8
y/y —
528.9
y/y —
117.7
y/y —
646.6
y/y —
264.0
y/y —
566.0-21.115337.8
y/y —
4034.7
y/y —
26.8%4106.8Link
2023-03-31Q1 2023 (3M)PARTIAL1973.7
y/y —
599.9
y/y —
108.2
y/y —
708.1
y/y —
331.1
y/y —
469.7-27.014537.1
y/y —
3848.6
y/y —
—3924.6Link

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

05001 0001 5002 0002 5002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-40%-20%0%20%40%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

Cash flow after capex (OCF − capex) ($ mln)

01002003004002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

02 0004 0006 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Profit is cash-backed
In a typical year of 2023–2025 operating cash flow came to 1.25x of reported net profit; after capex, 1.18x.
year202320242025
cash flow / profit1.61x1.18x1.25x
accruals, % of assets-4.5%-1.3%-1.8%
Last twelve months (to 2026-06-30): 1.02x of profit came back as operating cash flow.
net debt / EBITDA 1.9x
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +17% vs -16% the year before — a +33.4 pp move. 3-year CAGR —.
revenue growth by year: 2024 -16% · 2025 +17%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

Peer comparison

Group: Utilities. Each peer is shown as it trades and re-priced onto this company's market (Brazil) by the ratio of our coverage medians.

CompanyMarketCap, $bnEV/EBITDAEV/EBITDA, adjusted
Inter RAORussia2.50.3x0.5x
Rosseti Moscow RegionRussia1.01.5x2.3x
LenenergoRussia1.91.9x3.1x
FGC UESRussia1.93.2x5.1x
CemigBrazil5.25.4x5.4x
NEXTERA ENERGY INCUS174.418.2x5.7x
RushydroRussia2.63.6x5.8x
DEWA (Dubai Electricity & Water)UAE36.810.1x6.2x
Equatorial EnergiaBrazil7.58.7x8.7x
En+ GroupRussia2.66.4x10.3x
Manila Electric (Meralco)Philippines7.512.2x13.0x
EnergisaBrazil20.515.8x15.8x
Group median5.9x5.8x
Group average7.3x6.8x
This companyBrazil8.95.3x5.3x

Group median 5.9x as traded, 5.8x adjusted; this company 5.3x — a 7% discount.

Group average 7.3x as traded, 6.8x adjusted; against the average this company is at a 22% discount.

At the adjusted group median the market cap would be +12% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 19.4x, Russia 3.8x, South Africa 5.2x, Kazakhstan 7.7x, India 17.7x, Indonesia 4.6x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-11-01; the company's own is live.

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-04-303.7315 BRLEx-dividend: 3.7315 BRL per sharePaidYahoo Finance (ex-div)
2023-08-180.7834 BRLEx-dividend: 0.7834 BRL per sharePaidYahoo Finance (ex-div)
2023-05-022.1022 BRLEx-dividend: 2.1022 BRL per sharePaidYahoo Finance (ex-div)
2022-05-023.2423 BRLEx-dividend: 3.2423 BRL per sharePaidYahoo Finance (ex-div)
2021-12-100.6978 BRLEx-dividend: 0.6978 BRL per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Investor reporting (IR): https://www.rad.cvm.gov.br/ENET/frmConsultaExternaCVM.aspx?codigoCVM=18660

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of CPFL Energia (CPFE) — from primary filings.

Frequently asked questions

What is CPFL Energia (CPFE)'s P/E ratio?
CPFL Energia (CPFE) trades at a P/E of 7.4x (price to trailing 12-month earnings).
What is CPFL Energia (CPFE)'s EV/EBITDA?
CPFL Energia (CPFE) trades at 5.3x EV/EBITDA.
What is CPFL Energia (CPFE)'s P/B ratio?
CPFL Energia (CPFE) trades at a P/B of 2.1x.
What is CPFL Energia (CPFE)'s dividend yield?
CPFL Energia (CPFE)'s trailing 12-month dividend yield is 8.9%.
What is CPFL Energia (CPFE)'s return on equity (ROE)?
CPFL Energia (CPFE)'s ROE is 23.3%.
What is CPFL Energia (CPFE)'s market capitalization?
CPFL Energia (CPFE)'s market cap is 8.9 bn USD.

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