Companhia Energética de Minas Gerais S.A. Sponsored ADR (CIG) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.2	$0.19	-5.0%	—	$11B	—
Q1 26	$0.05	$0.07	+40.0%	—	$10.3B	—
Q3 25	$0.07	$0.05	-28.6%	—	$10.5B	—
Q2 25	$0.05	$0.08	+60.0%	—	—	—
Q1 25	$0.06	$0.06	0.0%	—	$9.7B	—
Q4 24	$0.06	$0.06	0.0%	—	$12.3B	—
Q3 24	$0.13	$0.2	+53.8%	—	$10.1B	—
Q2 24	$0.07	$0.11	+57.1%	—	$1.8B	—
Q2 22	—	$0	—	—	$8.2B	—
Q1 22	—	$0.12	—	—	$7.8B	—
Q3 21	—	$0.05	—	—	$9.5B	—
Q2 21	$0.01	$0.22	+2100.0%	—	$7.4B	—
Q1 21	$0.02	$0.04	+100.0%	—	$7.1B	—
Q4 20	$0.07	$0.02	-71.4%	—	$7.3B	—
Q3 18	$0.07	$0.02	-71.4%	—	$6.3B	—
Q2 18	$0.03	-$0.01	-133.3%	—	$5.6B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.73	—	—	$42.8B	—
FY24	—	$2.49	—	—	$39.8B	—
FY23	—	$2.02	—	—	$36.9B	—
FY22	—	$1.43	—	—	$34.5B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$18.8B	$21.7B	$22.3B	$25.5B	$25.2B	$33.6B	$34.5B	$36.9B	$39.8B	$42.8B
YoY change	-14.2%	+15.7%	+2.7%	+14.3%	-1.01%	+33.4%	+2.43%	+6.93%	+8.06%	+7.36%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	18.8B	21.7B	22.3B	25.5B	25.2B	33.6B	34.5B	36.9B	39.8B	42.8B
Cost of revenue	14.4B	17.5B	17.7B	19.6B	19.8B	26.9B	27.7B	28.5B	32B	35.5B
Gross profit	4.3B	4.2B	4.6B	5.9B	5.4B	6.7B	6.8B	8.4B	7.8B	7.2B
Gross margin	23.1%	19.5%	20.7%	23.1%	21.3%	20%	19.8%	22.8%	19.7%	16.9%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1B	1B	936M	642M	583M	463M	1.4B	1.3B	1.3B	124M
Operating expenses	1.5B	1.3B	1.7B	2.6B	1.4B	959M	1.7B	1.7B	1.5B	473M
Operating income	2.8B	2.9B	2.9B	3B	4.3B	5.8B	3.7B	6.4B	7.5B	6.3B
Operating margin	14.8%	13.3%	12.9%	11.8%	17%	17.1%	10.6%	17.4%	18.8%	14.8%
Non-operating income, net	-721M	-101M	48M	1.1B	467M	542M	1.1B	1.3B	1.9B	695M
Pretax income	367M	1.6B	2B	4.6B	3.8B	4.7B	4.1B	6.9B	9.4B	5.7B
Income tax	33M	644M	610M	1.6B	936M	946M	26M	1.1B	2.2B	771M
Net income	334M	1B	1.8B	3.2B	2.9B	3.8B	4.1B	5.8B	7.1B	4.9B
Net margin	1.78%	4.61%	7.91%	12.5%	11.4%	11.2%	11.9%	15.6%	17.9%	11.5%
EBITDA	3.7B	3.9B	4.1B	5.9B	6.1B	7.6B	6B	8.3B	10B	8.1B
EPS	0.05	0.19	0.54	1.12	1	1.31	1.43	2.02	2.49	1.73
Diluted EPS	0.04	0.19	0.54	1.12	1	1.31	1.43	2.02	2.49	1.73

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	9.4T	10B	8.9B	1.8B	10.1B	12.3B	9.7B	—	10.5B	11.6B	10.3B	11B
Cost of revenue	6.8T	8.3B	5.8B	1.3B	8.5B	10.7B	8B	—	9B	9.9B	8.8B	9.2B
Gross profit	2.7T	1.6B	3.1B	466.5M	1.6B	1.6B	1.7B	—	1.5B	1.7B	1.6B	1.8B
Gross margin	28.2%	16.2%	34.9%	26.5%	15.6%	12.7%	17.5%	—	14.3%	15%	15.4%	16.4%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	515.3B	214.2M	505.6M	63.7M	206.5M	125.2M	194M	—	195.3M	-684.5M	202M	230M
Operating expenses	725.2B	103M	1.1B	72.4M	216.4M	666M	280.9M	—	366.4M	-774.5M	199.4M	82M
Operating income	1.6T	1.7B	1.6B	369.6M	1.4B	2.6B	1.4B	1.5B	1B	2.4B	1.3B	1.9B
Operating margin	16.7%	16.8%	17.6%	21%	13.5%	21.5%	14%	—	9.73%	20.6%	12.7%	17.3%
Non-operating income, net	116.7B	516.3M	110.5M	-3.8M	3.3B	-1.6B	42.1M	—	134.7M	163.8M	78M	-70M
Pretax income	1.5T	2B	1.5B	400.8M	4.6B	1.2B	1.2B	—	846.5M	2.2B	1B	1B
Income tax	242.3B	116.4M	348.8M	86.2M	1.3B	157.4M	175M	—	49.8M	356.4M	70M	88M
Net income	1.2T	1.9B	1.2B	314.7M	3.3B	997.3M	1B	—	796.7M	1.9B	979M	945M
Net margin	13.1%	18.9%	12.9%	17.9%	32.6%	8.11%	10.7%	—	7.57%	16.2%	9.47%	8.58%
EBITDA	1.8T	1.5B	2.2B	531.3M	4.1B	1.1B	1.8B	1.9B	2.3B	2.4B	1.6B	2.1B
EPS	432.5	0.66	0.4	0.59	1.15	—	0.36	—	0.28	—	0.34	0.33
Diluted EPS	432.5	0.66	0.4	0.59	1.15	—	0.36	—	0.28	—	0.34	0.33

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	25.3B	—	—	—	37.1B	31.3B	26.1B	28.9B	—	5.7B	5.7B
Enterprise value	37.7B	—	—	—	47B	38.8B	32.8B	36.1B	—	21.3B	21.3B
Shares outstanding	14.4B	16.7B	18.6B	16.7B	16.7B	16.7B	16.7B	16.2B	2.9B	2.9B	2.9B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	75.8	—	—	—	12.9	8.33	6.38	5.01	—	1.17	1.17
P/S	1.35	—	—	—	1.47	0.93	0.76	0.78	—	0.13	0.13
P/B	1.96	—	—	—	2.12	1.61	1.2	1.17	—	0.2	0.2
EV/EBITDA	10.3	—	—	—	7.73	5.11	5.5	4.36	—	2.63	2.63
EV/Sales	2.01	—	—	—	1.86	1.15	0.95	0.98	—	0.5	0.5
Earnings yield	1.32%	—	—	—	7.73%	12%	15.7%	19.9%	—	85.6%	85.6%
FCF yield	0.28%	—	—	—	22.7%	11%	23.9%	18.6%	—	52.4%	52.4%

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	23.1%	19.5%	20.7%	23.1%	21.3%	20%	19.8%	22.8%	19.7%	16.9%	16.9%
Operating margin	14.8%	13.3%	12.9%	11.8%	17%	17.1%	10.6%	17.4%	18.8%	14.8%	14.8%
Net margin	1.78%	4.61%	7.91%	12.5%	11.4%	11.2%	11.9%	15.6%	17.9%	11.5%	11.5%
ROE	2.58%	6.99%	11%	19.8%	16.4%	19.3%	18.8%	23.4%	26%	17.1%	17.1%
ROA	0.79%	2.37%	2.92%	6.32%	5.3%	7.21%	7.63%	10.5%	11.9%	7.31%	7.31%
ROIC	9.97%	6.83%	7.07%	6.75%	11.8%	17%	12.8%	17%	15.6%	12.4%	12.4%
Return on tangible assets	1.64%	5.03%	4.55%	11.7%	9.4%	14.4%	16.8%	23.5%	27.3%	16.4%	16.4%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.72	0.99	1.19	1.3	1.6	1.21	1.2	0.91	0.86	1	1
Quick ratio	0.72	0.98	1.19	1.3	1.6	1.21	1.2	0.91	0.86	1	1
Debt / equity	1.17	1	0.92	0.94	0.87	0.6	0.5	0.42	0.46	0.7	0.7
Debt / assets	0.36	0.34	0.24	0.3	0.28	0.22	0.2	0.19	0.21	0.3	0.3
Net debt / EBITDA	3.41	2.91	3.02	2.18	1.63	1	1.12	0.86	0.92	1.93	1.93
Interest coverage	1.18	2.03	2.48	4.46	3.7	5.03	5.41	7.67	10.3	4.77	4.77
Effective tax rate	8.99%	39.1%	30.3%	35%	24.6%	20.1%	0.63%	15.8%	23.9%	13.6%	13.6%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	1.3	1.3	1.2	1.52	1.51	2.01	2.06	2.27	13.9	14.9	14.9
EPS (basic)	0.05	0.19	0.54	1.12	1	1.31	1.43	2.02	2.49	1.73	1.73
EPS (diluted)	0.04	0.19	0.54	1.12	1	1.31	1.43	2.02	2.49	1.73	1.73
Book value per share	0.9	0.86	0.86	0.96	1.04	1.16	1.3	1.52	9.57	9.99	9.99
FCF per share	0	-0.03	0.01	0.06	0.5	0.21	0.37	0.33	1.6	1.05	1.05
Cash per share	0.19	0.18	0.13	0.13	0.32	0.24	0.25	0.19	1.2	1.52	1.52
Capex per share	0.01	0	0	0	0.01	0.01	0.01	0.07	0.2	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.64%	0.38%	0.35%	0.27%	0.52%	0.54%	0.5%	2.92%	1.43%	—	—
Capex / operating cash flow	-30.2%	4.78%	3.21%	3.93%	1.67%	6.2%	2.88%	18.2%	8.05%	—	—
Payout ratio	202.1%	53.9%	28.9%	21.9%	20.9%	37.7%	51.1%	31.6%	60.3%	0%	0%
Dividend yield	2.67%	—	—	—	1.61%	4.53%	8.02%	6.31%	—	0%	0%

Yield

—

trailing twelve months

Frequency

Quarterly

Last dividend

$0.043

ex-dividend Jul 2, 2026

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jul 2, 2026	$0.043
May 14, 2026	$0.048
Mar 30, 2026	$0.043

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$9.4T	$10B	$8.9B	$1.8B	$10.1B	$12.3B	$9.7B	—	$10.5B	$11.6B	$10.3B	$11B
YoY change	+102.1K%	+8.47%	+4.9%	-80.1%	-99.9%	+23.6%	+8.7%	—	+4.7%	-5.77%	+6.55%	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	2.7B	2.9B	2.5B	2.2B	5.3B	4.1B	4.2B	3.1B	3.4B	4.3B
Receivables	3.4B	4.1B	4.1B	4.5B	4.4B	4.4B	4.8B	5.4B	5.6B	5.8B
Inventory	49M	38M	36M	39M	—	—	—	—	—	—
Total current assets	8.3B	8.5B	28B	10.4B	15.5B	12.9B	13.5B	11.9B	12.2B	14.5B
Property, plant & equipment	-1.6B	-523M	-2.1B	-553M	-681M	-651M	-564M	331M	763M	-4.4B
Goodwill & intangibles	21.6B	22.3B	21.6B	23.2B	23.6B	25.9B	29.2B	30.5B	33.6B	37.1B
Total assets	42B	42.2B	60.3B	50.5B	54.1B	52B	53.7B	55B	59.7B	67B
Accounts payable	1.9B	2.3B	1.8B	2.1B	2.4B	2.9B	3.3B	3.7B	4.2B	4.9B
Short-term debt	4.8B	2.4B	2.2B	2.8B	2.1B	1.5B	1B	2.7B	3B	3.1B
Total current liabilities	11.4B	8.7B	23.4B	8B	9.7B	10.7B	11.2B	13.1B	14.1B	14.5B
Long-term debt	10.3B	12B	12.6B	12.2B	13.1B	10.1B	9.9B	7.6B	9.8B	16.7B
Total liabilities	29.1B	27.9B	44.3B	34.4B	36.6B	32.6B	31.9B	30.3B	32.3B	38.4B
Shareholders' equity	12.9B	14.3B	16.1B	16.1B	17.5B	19.5B	21.8B	24.7B	27.4B	28.6B
Total debt	15.2B	14.4B	14.8B	15.1B	15.2B	11.6B	10.9B	10.3B	12.7B	19.9B
Net debt	14.2B	13.4B	13.9B	14.5B	13.6B	10.8B	9.5B	8.7B	10.8B	18B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q1 23	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q3 25	Q4 25	Q2 26
Cash & short-term investments	4B	4.5B	5B	3.1B	5.4B	694.9M	7.6B	3.4B	6B	3.7B	4.3B	5.3B
Receivables	4.9B	4.7B	5B	5.4B	5.2B	972.4M	5.2B	5.6B	5.5B	5.6B	5.8B	6B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	13.1B	13.5B	13.9B	11.9B	14.8B	2.4B	16.3B	12.2B	15.5B	13.2B	14.5B	15.7B
Property, plant & equipment	2.8B	-245.2M	3.3B	331M	3.7B	97.6M	4B	763M	4.1B	4.4B	1.1B	1.2B
Goodwill & intangibles	14.6B	29.2B	14.9B	30.5B	15.5B	5.9B	16.2B	33.6B	17.1B	18B	37.1B	39.5B
Total assets	54.1B	54.5B	56.2B	55B	57.4B	10.6B	63B	59.7B	63.9B	64.8B	67B	70.9B
Accounts payable	3B	3B	3.4B	3.7B	3.4B	694.5M	4.3B	4.2B	4.4B	5B	4.9B	5.1B
Short-term debt	1.2B	1B	1.2B	2.7B	2.8B	881.9M	4.9B	3B	2.7B	3.1B	3.1B	1.6B
Total current liabilities	11B	10.1B	10.7B	13.1B	12.8B	2.5B	15.6B	14.1B	14.6B	14.9B	14.5B	13.5B
Long-term debt	9.5B	11.2B	11.3B	7.6B	9.3B	1.4B	9.7B	9.8B	12.9B	12.8B	16.7B	21.1B
Total liabilities	31.3B	30.9B	31.7B	30.3B	32B	5.6B	34.9B	32.3B	36B	36B	38.4B	41.7B
Shareholders' equity	22.8B	23.6B	24.4B	24.7B	25.4B	5B	28.1B	27.4B	27.9B	28.7B	28.6B	29.2B
Total debt	10.7B	12.2B	12.5B	10.3B	12B	2.2B	14.6B	12.7B	15.7B	15.8B	19.9B	22.7B
Net debt	9.1B	10.1B	10.2B	8.7B	9.9B	2B	10.9B	10.8B	12.4B	14.4B	18B	20.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	334M	1B	1.8B	3B	2.9B	3.8B	4.1B	5.8B	7.1B	4.9B
Depreciation & amortization	834M	850M	850M	958M	989M	1B	1.2B	1.3B	1.4B	1.5B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	-2.2B	165M	1.1B	371M	9.4B	1.5B	2.4B	58M	-215M	-878M
Operating cash flow	-397M	1.7B	2.4B	1.8B	7.9B	2.9B	6B	5.9B	7.1B	4.1B
Capital expenditure	-120M	-83M	-77M	-70M	-132M	-182M	-173M	-1.1B	-570M	—
Investing cash flow	407M	648M	-65M	-881M	-5B	1.4B	-3B	-3.8B	-2.1B	-5.7B
Dividends paid	-675M	-540M	-509M	-701M	-598M	-1.4B	-2.1B	-1.8B	-4.3B	0
Share repurchases	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-529M	1.1B	-936M	-1.2B	-2.4B	-5.9B	-2.8B	-2.6B	-2.8B	6.6B
Net change in cash	-519M	3.4B	1.4B	-301M	502M	-1.6B	191M	-453M	2.2B	5B
Free cash flow	72M	-537M	130M	1B	8.4B	3.5B	6.3B	5.4B	4.6B	3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 22	Q1 23	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q3 25	Q4 25
Net income	1.4B	1.4B	1.2B	—	-757.6M	—	—	6.1B	—	—	3B	-352M
Depreciation & amortization	312M	303M	305M	—	-256.7M	—	—	1B	—	—	1.1B	-309.2M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	1.3B	17M	945.4M	—	-984.4M	—	—	332M	—	—	—	—
Operating cash flow	-5.4B	1B	2.4B	—	-2.9B	—	—	6.7B	—	—	3.4B	-1.7B
Capital expenditure	2.2B	-762M	-1.9B	-3.4B	—	-186.7M	860.7M	-3.7B	3.4B	-1.8B	—	—
Investing cash flow	2.2B	-351M	-2.9B	-3.4B	—	-186.7M	860.7M	-463M	3.4B	-1.8B	0	-1.4M
Dividends paid	-1.1B	0	-912.1M	—	1.1M	—	—	-3B	—	—	-1.8B	1.8B
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-1.6B	-445M	921.9M	—	-3.4B	—	—	686M	—	—	884M	3.1B
Net change in cash	-4.8B	218M	444.3M	-3.4B	-6.2B	-186.7M	860.7M	6.9B	3.4B	-1.8B	4.3B	1.4B
Free cash flow	3.1B	193M	-143M	—	2.5B	—	—	839M	—	—	-996M	2B

Date	Ratio
May 19, 2022	1.3:1
May 2, 2022	1.3:1
May 3, 2021	1:1
Aug 13, 2020	1:1
Jan 13, 2014	13076:10000
May 2, 2013	1128:1000
May 14, 2012	5:4
Apr 30, 2010	1:1
May 14, 2009	5:4
Apr 28, 2008	1:1
Jun 12, 2007	2:1
May 8, 2007	3:2
Apr 26, 2002	1:1
May 5, 1998	12237:10000

Companhia Energética de Minas Gerais S.A. Sponsored ADR Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history