Companhia de Saneamento Básico do Estado de São Paulo - SABESP ADR (SBS) 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	$0.08	$0.06	-25.0%	—	$10.2B	—
Q4 25	$0.11	$0.11	0.0%	—	$11.3B	—
Q3 25	$0.07	$0.07	0.0%	—	$9.4B	—
Q2 25	$0.08	$0.1	+25.0%	—	$9B	—
Q1 25	$0.07	$0.06	-14.3%	—	—	—
Q4 24	$0.07	$0.07	0.0%	—	$7.8B	—
Q3 24	$0.06	$0.06	0.0%	—	$15B	—
Q2 24	$0.05	$0.06	+20.0%	—	$1.3B	—
Q1 24	$0.05	$0.05	0.0%	—	$6.6B	—
Q4 23	$0.07	$0.07	0.0%	—	—	—
Q3 23	—	$1.24	—	—	$6.5B	—
Q2 23	—	$1.09	—	—	$0	—
Q1 23	—	$1.09	—	—	$5.7B	—
Q4 22	—	$0.18	—	—	$5.9B	—
Q3 22	—	$1.58	—	—	$6B	—
Q2 22	—	$0.61	—	—	$5.3B	—

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	—	$2.47	—	—	$38.1B	—
FY24	—	$2.8	—	—	$36.1B	—
FY23	—	$5.16	—	—	$25.6B	—
FY22	—	$4.57	—	—	$22.1B	—
FY21	—	$3.37	—	—	$19.5B	—
FY20	—	$1.42	—	—	$17.8B	—
FY19	—	$4.93	—	—	$18B	—
FY18	—	$4.15	—	—	$16.1B	—
FY17	—	$3.69	—	—	$14.6B	—
FY16	—	$4.31	—	—	$14.1B	—

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	$14.1B	$14.6B	$16.1B	$18B	$17.8B	$19.5B	$22.1B	$25.6B	$36.1B	$38.1B
YoY change	+20.4%	+3.62%	+10.1%	+11.8%	-1.03%	+9.52%	+13.2%	+15.9%	+41.3%	+5.39%

Total revenue

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

Period	Q1 23	Q2 23	Q3 23	Q1 24	Q2 24	Q3 24	Q4 24	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$5.7B	$0	$6.5B	$6.6B	$1.3B	$15B	$7.8B	$9B	$9.4B	$11.3B	$10B	$10.2B
YoY change	+17%	-100%	+7.77%	+15.1%	+InfinityT%	+132.4%	—	+602.9%	-37.2%	+43.9%	—	+13.9%

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	14.1B	14.6B	16.1B	18B	17.8B	19.5B	22.1B	25.6B	36.1B	38.1B
Cost of revenue	9B	8.8B	9.1B	10.1B	11.2B	12.8B	14.4B	16.1B	16.6B	24B
Gross profit	5.1B	5.8B	7B	7.8B	6.6B	6.7B	7.7B	9.5B	19.5B	14.1B
Gross margin	36.1%	39.9%	43.5%	43.6%	37.2%	34.3%	34.9%	37.2%	54.1%	37%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.4B	1.6B	1.5B	1.8B	1.6B	1.9B	2.1B	2.4B	2.9B	1.5B
Operating expenses	1.4B	1.6B	1.5B	1.8B	1.5B	2B	2.1B	2.3B	3.2B	1.2B
Operating income	3.4B	4B	5.2B	5.7B	4.5B	4.1B	4.6B	6.3B	15.4B	12.4B
Operating margin	24.3%	27.1%	32.1%	31.7%	25.2%	20.9%	20.9%	24.7%	42.6%	32.5%
Non-operating income, net	1.3B	105.7M	-709.1M	-77.8M	-2.1B	221.2M	934M	713.7M	658.9M	3B
Pretax income	4.1B	3.5B	3.9B	4.7B	1.3B	3.2B	4.3B	4.8B	13.6B	11.7B
Income tax	1.2B	984.3M	1.1B	1.3B	352.7M	864.3M	1.2B	1.2B	4.1B	3.2B
Net income	2.9B	2.5B	2.8B	3.4B	973.3M	2.3B	3.1B	3.5B	9.6B	8.5B
Net margin	20.9%	17.2%	17.6%	18.7%	5.47%	11.8%	14.2%	13.8%	26.5%	22.2%
EBITDA	4.5B	5.1B	6.5B	7.2B	6.2B	6B	7B	8.3B	17.5B	14.4B
EPS	4.31	3.69	4.15	4.93	1.42	3.37	4.57	5.16	2.8	2.47
Diluted EPS	4.31	3.69	4.15	4.93	1.42	3.37	4.57	5.16	2.8	2.47

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	Q1 23	Q2 23	Q3 23	Q1 24	Q2 24	Q3 24	Q4 24	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	5.7B	0	6.5B	6.6B	1.3B	15B	7.8B	9B	9.4B	11.3B	10B	10.2B
Cost of revenue	3.7B	0	3.9B	4B	730.3M	4B	4.8B	5.2B	6.4B	7.4B	6B	3.6B
Gross profit	2B	0	2.5B	2.6B	545M	11B	3.1B	3.7B	3B	3.8B	3.9B	6.6B
Gross margin	35.9%	—	38.9%	39.4%	42.7%	73.4%	39.1%	41.8%	31.8%	34%	39.3%	64.7%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	455.1M	0	656.2M	748.2M	101.7M	784.3M	951.4M	178.3M	688.4M	164.6M	382.1M	—
Operating expenses	440.4M	-50.5M	650.1M	741.1M	100.4M	954M	1.1B	149M	742.7M	-117M	401M	2.7B
Operating income	1.4B	0	1.7B	1.7B	414.4M	9.8B	1.7B	3.3B	2.4B	3.8B	3.3B	3.1B
Operating margin	24.1%	—	26.4%	25.2%	32.5%	65.6%	22.1%	36.9%	25.8%	33.9%	33.6%	30.9%
Non-operating income, net	253.5M	369.9M	-42.9M	15.2M	8.6M	169.1M	256.4M	271.7M	1.6B	1B	312M	18M
Pretax income	1.1B	0	1.3B	1.3B	331.5M	9.3B	1.2B	3.2B	3.2B	3B	2.4B	2.2B
Income tax	385.7M	0	431.4M	500.6M	103M	3.2B	-204.3M	1.1B	1.1B	296.8M	608.5M	687M
Net income	747.2M	0	846.3M	823.3M	228.5M	6.1B	1.4B	2.1B	2.2B	2.7B	1.7B	1.5B
Net margin	13.1%	—	13.1%	12.5%	17.9%	40.8%	18.3%	23.8%	22.9%	23.8%	17.6%	14.3%
EBITDA	1.9B	670.8M	2.5B	2.4B	552M	10.1B	2.3B	4B	2.9B	4.3B	4B	3.9B
EPS	1.09	0	1.24	1.2	1.77	8.68	—	0.61	0.61	—	0.5	0.42
Diluted EPS	1.09	0	1.24	1.2	1.77	8.68	—	0.61	0.61	—	0.5	0.42

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	1.9B	2.3B	3B	2.3B	3.8B	3.2B	3.5B	3.3B	5.4B	12.4B
Receivables	1.6B	1.7B	1.8B	2.1B	2.2B	2.7B	3.1B	3.6B	3.9B	4.4B
Inventory	58M	85.7M	65.6M	70.5M	104.8M	113.5M	124.2M	86M	10.8M	22.1M
Total current assets	3.8B	4.6B	5.6B	4.9B	6.4B	6.5B	7.3B	7.8B	10.6B	18.6B
Property, plant & equipment	302.4M	255.1M	267.6M	314.4M	310.9M	395M	414M	592.6M	686.3M	942.8M
Goodwill & intangibles	62.5B	66.9B	58B	64.7B	68.7B	72.8B	78.5B	87.8B	89.3B	100.9B
Total assets	36.7B	39.5B	43.6B	46.5B	50.4B	53.2B	57.2B	61.5B	81B	104.2B
Accounts payable	312M	344.9M	466M	369.6M	263.7M	236.8M	430.9M	456.2M	766.6M	2.4B
Short-term debt	1.2B	1.7B	2.1B	2.9B	3B	1.8B	2.2B	2.6B	3.1B	5.1B
Total current liabilities	4.3B	4.8B	5.4B	6.5B	5.9B	5.1B	6.7B	8.4B	12B	16.6B
Long-term debt	10.7B	10.4B	11B	10.4B	14.2B	15.9B	16.7B	16.9B	22.1B	35B
Total liabilities	21.3B	22B	24B	24.8B	27.6B	28.2B	29.9B	31.6B	44B	61.8B
Shareholders' equity	15.4B	17.5B	19.6B	21.6B	22.8B	24.9B	27.3B	29.9B	36.9B	42.4B
Total debt	12B	12.1B	13.2B	13.2B	17.3B	17.7B	19B	19.5B	25.3B	40.1B
Net debt	10.1B	9.8B	10.1B	11B	16.9B	17B	17.1B	18.7B	23.6B	35.5B

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	Q1 24	Q2 24	Q3 24	Q4 24	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	2.5B	2.3B	3B	6.2B	972.9M	3.7B	5.4B	7.9B	11.6B	12.4B	19.2B	17.4B
Receivables	3.2B	3.3B	3.4B	3.6B	692.6M	3.6B	3.9B	4B	4.5B	4.4B	4.6B	3.9B
Inventory	117.3M	120.6M	120.6M	122.2M	21.9M	98.1M	10.8M	24.7M	28.8M	22.1M	125.8M	74M
Total current assets	6.4B	6.3B	7.1B	10.6B	1.8B	8.2B	10.6B	13.2B	17B	18.6B	25.9B	23.9B
Property, plant & equipment	—	371.2M	—	—	124.3M	—	686.3M	640M	738.7M	942.8M	1.2B	—
Goodwill & intangibles	39.7B	80.8B	41.8B	44.5B	16.9B	41.8B	89.3B	90.5B	91.8B	100.9B	101.4B	50.3B
Total assets	56.9B	57.5B	59B	65B	12.2B	76.1B	81B	88.7B	96B	104.2B	116.7B	119.6B
Accounts payable	257.7M	256.7M	518.2M	490.5M	94.4M	268.9M	766.6M	1.2B	1.5B	2.4B	872.1M	2.7B
Short-term debt	2B	2.6B	2.7B	2.7B	457.1M	2.6B	3.1B	3.3B	5.8B	5.1B	4.9B	5.3B
Total current liabilities	6.2B	6.4B	7.1B	8.7B	1.3B	7.2B	12B	10.5B	14.5B	16.6B	14.9B	16.2B
Long-term debt	16.3B	16.1B	16.4B	19.3B	3.7B	21.2B	22.1B	28B	29.1B	35B	46.8B	46.4B
Total liabilities	28.8B	28.7B	29.4B	34.4B	6.2B	38.2B	44B	48.3B	53.3B	61.8B	72.9B	74.3B
Shareholders' equity	28.1B	28.7B	29.6B	30.7B	6B	37.9B	36.9B	40.4B	42.7B	42.4B	43.8B	45.3B
Total debt	18.3B	18.7B	19B	22B	4.1B	23.9B	25.3B	31.3B	34.9B	40.1B	51.6B	51.7B
Net debt	17.5B	17.4B	17.4B	20B	3.6B	21.5B	23.6B	26.7B	30B	35.5B	48.1B	47.4B

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	4.1B	3.5B	3.9B	4.7B	1.3B	3.2B	4.3B	4.8B	13.6B	11.7B
Depreciation & amortization	1.1B	1.3B	1.4B	1.8B	2B	2.3B	2.5B	2.8B	2.7B	2.2B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	-175.5M	-989.3M	-663.9M	-728.1M	-1.1B	-1.6B	-2.4B	-2.7B	-1.8B	383M
Operating cash flow	4.3B	4.2B	4.9B	5.2B	4.9B	4.7B	5B	6.6B	8.7B	8.4B
Capital expenditure	-27.6M	-18.9M	-50.6M	-78.2M	-42.4M	-50.3M	-73.7M	-147.2M	-8B	—
Investing cash flow	-22.6M	-2B	-2.2B	-3.3B	-6.8B	-2.7B	-2.9B	-4.2B	-10B	-2B
Dividends paid	0	0	0	0	0	0	0	0	0	0
Share repurchases	—	—	—	—	—	—	—	—	0	-475.4M
Financing cash flow	-486.5M	-167.7M	-254.1M	-965.9M	823.7M	-674.8M	663.8M	-154.2M	4.3B	12.7B
Net change in cash	3.7B	2.1B	2.5B	989.4M	-1B	1.3B	2.8B	2.3B	3.1B	19.1B
Free cash flow	867.8M	3.3B	3.8B	4.1B	4.9B	3.9B	3.9B	4.7B	-626.1M	-5.4B

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	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	1.1B	1.3B	1.3B	1.3B	331.5M	9.3B	1.2B	3.2B	3.2B	3B	2.4B	2.2B
Depreciation & amortization	670.8M	713.5M	749.2M	773.8M	149.2M	592.9M	520.5M	543.4M	535.1M	546.8M	697.5M	738.3M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	-688.8M	-367.6M	-582.5M	-493.2M	-30.3M	-2B	-1.8B	1.2B	-1.9B	2.1B	-462.6M	971.2M
Operating cash flow	871.5M	2.1B	2.3B	2B	556.6M	11.5B	-8.1B	3.2B	3.2B	906.8M	761.6M	3.4B
Capital expenditure	31M	-88.2M	-59M	-15.9M	-3.9M	—	-38M	—	—	—	—	—
Investing cash flow	-893.9M	-626.3M	-1.8B	-578.1M	100M	305.6M	-4.5B	1.3B	-2.7B	-663M	-7.7B	2.1B
Dividends paid	—	0	0	—	—	0	0	—	0	0	—	0
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	336.9M	43M	308.7M	2.1B	-401.4M	3.3B	1.1B	3.1B	5.9B	4B	10.9B	-412.8M
Net change in cash	314.5M	1.5B	798.7M	3.4B	255.3M	15.1B	-11.4B	7.6B	6.4B	4.2B	3.9B	5B
Free cash flow	1.1B	1.6B	1.8B	1.4B	9.4M	-2.6B	2.6B	-1.1B	-610.1M	-3.2B	-4.3B	-109.2M

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	6.9B	8.3B	6.4B	12B	6.9B	5.9B	8.5B	12B	—	16.3B	18.1B
Enterprise value	17B	18.2B	16.6B	23B	20.3B	20.4B	23.9B	28.2B	—	44.1B	10.1B
Shares outstanding	4B	4B	4B	4B	4B	4B	4B	3.9B	3.4B	3.4B	3.4B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	2.35	3.31	2.27	3.57	7.05	2.54	2.73	3.39	—	1.93	11.2
P/S	0.49	0.57	0.4	0.67	0.39	0.3	0.39	0.47	—	0.43	0.44
P/B	0.45	0.48	0.33	0.56	0.3	0.24	0.31	0.4	—	0.39	2.08
EV/EBITDA	3.75	3.55	2.54	3.2	3.27	3.43	3.4	3.41	—	3.07	3.46
EV/Sales	1.21	1.24	1.03	1.28	1.14	1.05	1.08	1.1	—	1.16	1.29
Earnings yield	42.5%	30.2%	44%	28%	14.2%	39.3%	36.6%	29.5%	—	51.8%	8.95%
FCF yield	12.5%	39.3%	58.8%	34.3%	71.9%	65.9%	45.7%	39.4%	—	-32.9%	-6.68%
PEG	—	—	—	—	—	—	—	—	—	—	-0.37

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	36.1%	39.9%	43.5%	43.6%	37.2%	34.3%	34.9%	37.2%	54.1%	37%	64.7%
Operating margin	24.3%	27.1%	32.1%	31.7%	25.2%	20.9%	20.9%	24.7%	42.6%	32.5%	31.5%
Net margin	20.9%	17.2%	17.6%	18.7%	5.47%	11.8%	14.2%	13.8%	26.5%	22.2%	19.7%
ROE	19.1%	14.4%	14.5%	15.6%	4.27%	9.25%	11.4%	11.8%	25.9%	20%	18.8%
ROA	8.02%	6.37%	6.51%	7.25%	1.93%	4.34%	5.46%	5.73%	11.8%	8.12%	7.77%
ROIC	9.59%	10.4%	12.6%	12.6%	9.07%	7.5%	7.9%	10.1%	19%	12.8%	12%
Return on tangible assets	-11.4%	-9.2%	-19.6%	-18.5%	-5.32%	-11.7%	-14.7%	-13.4%	-115%	254.7%	11.6%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.89	0.96	1.04	0.76	1.09	1.28	1.09	0.93	0.89	1.12	1.47
Quick ratio	0.88	0.94	1.03	0.75	1.07	1.25	1.08	0.92	0.89	1.12	1.47
Debt / equity	0.78	0.69	0.67	0.61	0.76	0.71	0.69	0.65	0.68	0.95	1.14
Debt / assets	0.33	0.31	0.3	0.29	0.34	0.33	0.33	0.32	0.31	0.39	0.43
Net debt / EBITDA	2.22	1.92	1.55	1.53	2.16	2.45	2.19	1.97	1.14	1.93	2.26
Interest coverage	8.32	9.57	8.77	8.1	2.76	5.31	4.51	4.37	8.61	4.38	4.38
Effective tax rate	28.6%	28.1%	27.5%	28%	26.6%	27.3%	26.9%	25.9%	29.8%	27.7%	24.9%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	3.53	3.66	4.03	4.5	4.46	4.88	5.52	6.52	10.6	11.1	11.4
EPS (basic)	4.31	3.69	4.15	4.93	1.42	3.37	4.57	5.16	2.8	2.47	2.47
EPS (diluted)	4.31	3.69	4.15	4.93	1.42	3.37	4.57	5.16	2.8	2.47	0.46
Book value per share	3.86	4.38	4.89	5.42	5.71	6.24	6.84	7.61	10.8	12.4	2.47
FCF per share	0.22	0.82	0.95	1.03	1.24	0.97	0.97	1.2	-0.18	-1.57	-2.35
Cash per share	0.47	0.57	0.76	0.56	0.95	0.79	0.89	0.83	1.57	3.61	4.95
Capex per share	0.01	0	0.01	0.02	0.01	0.01	0.02	0.04	2.35	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.2%	0.13%	0.31%	0.43%	0.24%	0.26%	0.33%	0.58%	22.2%	—	—
Capex / operating cash flow	0.65%	0.45%	1.03%	1.5%	0.86%	1.08%	1.48%	2.22%	92.2%	—	—
Payout ratio	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	31.8%
Dividend yield	0%	0%	0%	0%	0%	0%	0%	0%	—	0%	2.47%

Yield

2.47%

trailing twelve months

Frequency

Annual

Last dividend

$0.159

ex-dividend Mar 27, 2026

Payout ratio

32%

of earnings

Dividend growth

4 years

consecutive annual raises

Dividend per share

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

Recent payouts

Ex-dividend	Amount
Mar 27, 2026	$0.159
May 2, 2025	$0.657
Apr 26, 2024	$0.2808
May 2, 2023	$0.2527
Apr 29, 2022	$0.20
Apr 30, 2021	$0.071
May 1, 2020	$0.252
Apr 30, 2019	$0.30

Split history

Date	Ratio
May 7, 2026	5:1
Mar 27, 2026	1.00161:1
Dec 29, 2025	1.029647:1
Apr 30, 2013	3:1
Jan 24, 2013	2:1

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	$0.08	$0.06	-25.0%	—	$10.2B	—
Q4 25	$0.11	$0.11	0.0%	—	$11.3B	—
Q3 25	$0.07	$0.07	0.0%	—	$9.4B	—
Q2 25	$0.08	$0.1	+25.0%	—	$9B	—
Q1 25	$0.07	$0.06	-14.3%	—	—	—
Q4 24	$0.07	$0.07	0.0%	—	$7.8B	—
Q3 24	$0.06	$0.06	0.0%	—	$15B	—
Q2 24	$0.05	$0.06	+20.0%	—	$1.3B	—
Q1 24	$0.05	$0.05	0.0%	—	$6.6B	—
Q4 23	$0.07	$0.07	0.0%	—	—	—
Q3 23	—	$1.24	—	—	$6.5B	—
Q2 23	—	$1.09	—	—	$0	—
Q1 23	—	$1.09	—	—	$5.7B	—
Q4 22	—	$0.18	—	—	$5.9B	—
Q3 22	—	$1.58	—	—	$6B	—
Q2 22	—	$0.61	—	—	$5.3B	—

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	—	$2.47	—	—	$38.1B	—
FY24	—	$2.8	—	—	$36.1B	—
FY23	—	$5.16	—	—	$25.6B	—
FY22	—	$4.57	—	—	$22.1B	—
FY21	—	$3.37	—	—	$19.5B	—
FY20	—	$1.42	—	—	$17.8B	—
FY19	—	$4.93	—	—	$18B	—
FY18	—	$4.15	—	—	$16.1B	—
FY17	—	$3.69	—	—	$14.6B	—
FY16	—	$4.31	—	—	$14.1B	—

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	$14.1B	$14.6B	$16.1B	$18B	$17.8B	$19.5B	$22.1B	$25.6B	$36.1B	$38.1B
YoY change	+20.4%	+3.62%	+10.1%	+11.8%	-1.03%	+9.52%	+13.2%	+15.9%	+41.3%	+5.39%

Total revenue

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

Period	Q1 23	Q2 23	Q3 23	Q1 24	Q2 24	Q3 24	Q4 24	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$5.7B	$0	$6.5B	$6.6B	$1.3B	$15B	$7.8B	$9B	$9.4B	$11.3B	$10B	$10.2B
YoY change	+17%	-100%	+7.77%	+15.1%	+InfinityT%	+132.4%	—	+602.9%	-37.2%	+43.9%	—	+13.9%

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	14.1B	14.6B	16.1B	18B	17.8B	19.5B	22.1B	25.6B	36.1B	38.1B
Cost of revenue	9B	8.8B	9.1B	10.1B	11.2B	12.8B	14.4B	16.1B	16.6B	24B
Gross profit	5.1B	5.8B	7B	7.8B	6.6B	6.7B	7.7B	9.5B	19.5B	14.1B
Gross margin	36.1%	39.9%	43.5%	43.6%	37.2%	34.3%	34.9%	37.2%	54.1%	37%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.4B	1.6B	1.5B	1.8B	1.6B	1.9B	2.1B	2.4B	2.9B	1.5B
Operating expenses	1.4B	1.6B	1.5B	1.8B	1.5B	2B	2.1B	2.3B	3.2B	1.2B
Operating income	3.4B	4B	5.2B	5.7B	4.5B	4.1B	4.6B	6.3B	15.4B	12.4B
Operating margin	24.3%	27.1%	32.1%	31.7%	25.2%	20.9%	20.9%	24.7%	42.6%	32.5%
Non-operating income, net	1.3B	105.7M	-709.1M	-77.8M	-2.1B	221.2M	934M	713.7M	658.9M	3B
Pretax income	4.1B	3.5B	3.9B	4.7B	1.3B	3.2B	4.3B	4.8B	13.6B	11.7B
Income tax	1.2B	984.3M	1.1B	1.3B	352.7M	864.3M	1.2B	1.2B	4.1B	3.2B
Net income	2.9B	2.5B	2.8B	3.4B	973.3M	2.3B	3.1B	3.5B	9.6B	8.5B
Net margin	20.9%	17.2%	17.6%	18.7%	5.47%	11.8%	14.2%	13.8%	26.5%	22.2%
EBITDA	4.5B	5.1B	6.5B	7.2B	6.2B	6B	7B	8.3B	17.5B	14.4B
EPS	4.31	3.69	4.15	4.93	1.42	3.37	4.57	5.16	2.8	2.47
Diluted EPS	4.31	3.69	4.15	4.93	1.42	3.37	4.57	5.16	2.8	2.47

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	Q1 23	Q2 23	Q3 23	Q1 24	Q2 24	Q3 24	Q4 24	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	5.7B	0	6.5B	6.6B	1.3B	15B	7.8B	9B	9.4B	11.3B	10B	10.2B
Cost of revenue	3.7B	0	3.9B	4B	730.3M	4B	4.8B	5.2B	6.4B	7.4B	6B	3.6B
Gross profit	2B	0	2.5B	2.6B	545M	11B	3.1B	3.7B	3B	3.8B	3.9B	6.6B
Gross margin	35.9%	—	38.9%	39.4%	42.7%	73.4%	39.1%	41.8%	31.8%	34%	39.3%	64.7%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	455.1M	0	656.2M	748.2M	101.7M	784.3M	951.4M	178.3M	688.4M	164.6M	382.1M	—
Operating expenses	440.4M	-50.5M	650.1M	741.1M	100.4M	954M	1.1B	149M	742.7M	-117M	401M	2.7B
Operating income	1.4B	0	1.7B	1.7B	414.4M	9.8B	1.7B	3.3B	2.4B	3.8B	3.3B	3.1B
Operating margin	24.1%	—	26.4%	25.2%	32.5%	65.6%	22.1%	36.9%	25.8%	33.9%	33.6%	30.9%
Non-operating income, net	253.5M	369.9M	-42.9M	15.2M	8.6M	169.1M	256.4M	271.7M	1.6B	1B	312M	18M
Pretax income	1.1B	0	1.3B	1.3B	331.5M	9.3B	1.2B	3.2B	3.2B	3B	2.4B	2.2B
Income tax	385.7M	0	431.4M	500.6M	103M	3.2B	-204.3M	1.1B	1.1B	296.8M	608.5M	687M
Net income	747.2M	0	846.3M	823.3M	228.5M	6.1B	1.4B	2.1B	2.2B	2.7B	1.7B	1.5B
Net margin	13.1%	—	13.1%	12.5%	17.9%	40.8%	18.3%	23.8%	22.9%	23.8%	17.6%	14.3%
EBITDA	1.9B	670.8M	2.5B	2.4B	552M	10.1B	2.3B	4B	2.9B	4.3B	4B	3.9B
EPS	1.09	0	1.24	1.2	1.77	8.68	—	0.61	0.61	—	0.5	0.42
Diluted EPS	1.09	0	1.24	1.2	1.77	8.68	—	0.61	0.61	—	0.5	0.42

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	1.9B	2.3B	3B	2.3B	3.8B	3.2B	3.5B	3.3B	5.4B	12.4B
Receivables	1.6B	1.7B	1.8B	2.1B	2.2B	2.7B	3.1B	3.6B	3.9B	4.4B
Inventory	58M	85.7M	65.6M	70.5M	104.8M	113.5M	124.2M	86M	10.8M	22.1M
Total current assets	3.8B	4.6B	5.6B	4.9B	6.4B	6.5B	7.3B	7.8B	10.6B	18.6B
Property, plant & equipment	302.4M	255.1M	267.6M	314.4M	310.9M	395M	414M	592.6M	686.3M	942.8M
Goodwill & intangibles	62.5B	66.9B	58B	64.7B	68.7B	72.8B	78.5B	87.8B	89.3B	100.9B
Total assets	36.7B	39.5B	43.6B	46.5B	50.4B	53.2B	57.2B	61.5B	81B	104.2B
Accounts payable	312M	344.9M	466M	369.6M	263.7M	236.8M	430.9M	456.2M	766.6M	2.4B
Short-term debt	1.2B	1.7B	2.1B	2.9B	3B	1.8B	2.2B	2.6B	3.1B	5.1B
Total current liabilities	4.3B	4.8B	5.4B	6.5B	5.9B	5.1B	6.7B	8.4B	12B	16.6B
Long-term debt	10.7B	10.4B	11B	10.4B	14.2B	15.9B	16.7B	16.9B	22.1B	35B
Total liabilities	21.3B	22B	24B	24.8B	27.6B	28.2B	29.9B	31.6B	44B	61.8B
Shareholders' equity	15.4B	17.5B	19.6B	21.6B	22.8B	24.9B	27.3B	29.9B	36.9B	42.4B
Total debt	12B	12.1B	13.2B	13.2B	17.3B	17.7B	19B	19.5B	25.3B	40.1B
Net debt	10.1B	9.8B	10.1B	11B	16.9B	17B	17.1B	18.7B	23.6B	35.5B

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	Q1 24	Q2 24	Q3 24	Q4 24	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	2.5B	2.3B	3B	6.2B	972.9M	3.7B	5.4B	7.9B	11.6B	12.4B	19.2B	17.4B
Receivables	3.2B	3.3B	3.4B	3.6B	692.6M	3.6B	3.9B	4B	4.5B	4.4B	4.6B	3.9B
Inventory	117.3M	120.6M	120.6M	122.2M	21.9M	98.1M	10.8M	24.7M	28.8M	22.1M	125.8M	74M
Total current assets	6.4B	6.3B	7.1B	10.6B	1.8B	8.2B	10.6B	13.2B	17B	18.6B	25.9B	23.9B
Property, plant & equipment	—	371.2M	—	—	124.3M	—	686.3M	640M	738.7M	942.8M	1.2B	—
Goodwill & intangibles	39.7B	80.8B	41.8B	44.5B	16.9B	41.8B	89.3B	90.5B	91.8B	100.9B	101.4B	50.3B
Total assets	56.9B	57.5B	59B	65B	12.2B	76.1B	81B	88.7B	96B	104.2B	116.7B	119.6B
Accounts payable	257.7M	256.7M	518.2M	490.5M	94.4M	268.9M	766.6M	1.2B	1.5B	2.4B	872.1M	2.7B
Short-term debt	2B	2.6B	2.7B	2.7B	457.1M	2.6B	3.1B	3.3B	5.8B	5.1B	4.9B	5.3B
Total current liabilities	6.2B	6.4B	7.1B	8.7B	1.3B	7.2B	12B	10.5B	14.5B	16.6B	14.9B	16.2B
Long-term debt	16.3B	16.1B	16.4B	19.3B	3.7B	21.2B	22.1B	28B	29.1B	35B	46.8B	46.4B
Total liabilities	28.8B	28.7B	29.4B	34.4B	6.2B	38.2B	44B	48.3B	53.3B	61.8B	72.9B	74.3B
Shareholders' equity	28.1B	28.7B	29.6B	30.7B	6B	37.9B	36.9B	40.4B	42.7B	42.4B	43.8B	45.3B
Total debt	18.3B	18.7B	19B	22B	4.1B	23.9B	25.3B	31.3B	34.9B	40.1B	51.6B	51.7B
Net debt	17.5B	17.4B	17.4B	20B	3.6B	21.5B	23.6B	26.7B	30B	35.5B	48.1B	47.4B

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	4.1B	3.5B	3.9B	4.7B	1.3B	3.2B	4.3B	4.8B	13.6B	11.7B
Depreciation & amortization	1.1B	1.3B	1.4B	1.8B	2B	2.3B	2.5B	2.8B	2.7B	2.2B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	-175.5M	-989.3M	-663.9M	-728.1M	-1.1B	-1.6B	-2.4B	-2.7B	-1.8B	383M
Operating cash flow	4.3B	4.2B	4.9B	5.2B	4.9B	4.7B	5B	6.6B	8.7B	8.4B
Capital expenditure	-27.6M	-18.9M	-50.6M	-78.2M	-42.4M	-50.3M	-73.7M	-147.2M	-8B	—
Investing cash flow	-22.6M	-2B	-2.2B	-3.3B	-6.8B	-2.7B	-2.9B	-4.2B	-10B	-2B
Dividends paid	0	0	0	0	0	0	0	0	0	0
Share repurchases	—	—	—	—	—	—	—	—	0	-475.4M
Financing cash flow	-486.5M	-167.7M	-254.1M	-965.9M	823.7M	-674.8M	663.8M	-154.2M	4.3B	12.7B
Net change in cash	3.7B	2.1B	2.5B	989.4M	-1B	1.3B	2.8B	2.3B	3.1B	19.1B
Free cash flow	867.8M	3.3B	3.8B	4.1B	4.9B	3.9B	3.9B	4.7B	-626.1M	-5.4B

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	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	1.1B	1.3B	1.3B	1.3B	331.5M	9.3B	1.2B	3.2B	3.2B	3B	2.4B	2.2B
Depreciation & amortization	670.8M	713.5M	749.2M	773.8M	149.2M	592.9M	520.5M	543.4M	535.1M	546.8M	697.5M	738.3M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	-688.8M	-367.6M	-582.5M	-493.2M	-30.3M	-2B	-1.8B	1.2B	-1.9B	2.1B	-462.6M	971.2M
Operating cash flow	871.5M	2.1B	2.3B	2B	556.6M	11.5B	-8.1B	3.2B	3.2B	906.8M	761.6M	3.4B
Capital expenditure	31M	-88.2M	-59M	-15.9M	-3.9M	—	-38M	—	—	—	—	—
Investing cash flow	-893.9M	-626.3M	-1.8B	-578.1M	100M	305.6M	-4.5B	1.3B	-2.7B	-663M	-7.7B	2.1B
Dividends paid	—	0	0	—	—	0	0	—	0	0	—	0
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	336.9M	43M	308.7M	2.1B	-401.4M	3.3B	1.1B	3.1B	5.9B	4B	10.9B	-412.8M
Net change in cash	314.5M	1.5B	798.7M	3.4B	255.3M	15.1B	-11.4B	7.6B	6.4B	4.2B	3.9B	5B
Free cash flow	1.1B	1.6B	1.8B	1.4B	9.4M	-2.6B	2.6B	-1.1B	-610.1M	-3.2B	-4.3B	-109.2M

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	6.9B	8.3B	6.4B	12B	6.9B	5.9B	8.5B	12B	—	16.3B	18.1B
Enterprise value	17B	18.2B	16.6B	23B	20.3B	20.4B	23.9B	28.2B	—	44.1B	10.1B
Shares outstanding	4B	4B	4B	4B	4B	4B	4B	3.9B	3.4B	3.4B	3.4B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	2.35	3.31	2.27	3.57	7.05	2.54	2.73	3.39	—	1.93	11.2
P/S	0.49	0.57	0.4	0.67	0.39	0.3	0.39	0.47	—	0.43	0.44
P/B	0.45	0.48	0.33	0.56	0.3	0.24	0.31	0.4	—	0.39	2.08
EV/EBITDA	3.75	3.55	2.54	3.2	3.27	3.43	3.4	3.41	—	3.07	3.46
EV/Sales	1.21	1.24	1.03	1.28	1.14	1.05	1.08	1.1	—	1.16	1.29
Earnings yield	42.5%	30.2%	44%	28%	14.2%	39.3%	36.6%	29.5%	—	51.8%	8.95%
FCF yield	12.5%	39.3%	58.8%	34.3%	71.9%	65.9%	45.7%	39.4%	—	-32.9%	-6.68%
PEG	—	—	—	—	—	—	—	—	—	—	-0.37

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	36.1%	39.9%	43.5%	43.6%	37.2%	34.3%	34.9%	37.2%	54.1%	37%	64.7%
Operating margin	24.3%	27.1%	32.1%	31.7%	25.2%	20.9%	20.9%	24.7%	42.6%	32.5%	31.5%
Net margin	20.9%	17.2%	17.6%	18.7%	5.47%	11.8%	14.2%	13.8%	26.5%	22.2%	19.7%
ROE	19.1%	14.4%	14.5%	15.6%	4.27%	9.25%	11.4%	11.8%	25.9%	20%	18.8%
ROA	8.02%	6.37%	6.51%	7.25%	1.93%	4.34%	5.46%	5.73%	11.8%	8.12%	7.77%
ROIC	9.59%	10.4%	12.6%	12.6%	9.07%	7.5%	7.9%	10.1%	19%	12.8%	12%
Return on tangible assets	-11.4%	-9.2%	-19.6%	-18.5%	-5.32%	-11.7%	-14.7%	-13.4%	-115%	254.7%	11.6%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.89	0.96	1.04	0.76	1.09	1.28	1.09	0.93	0.89	1.12	1.47
Quick ratio	0.88	0.94	1.03	0.75	1.07	1.25	1.08	0.92	0.89	1.12	1.47
Debt / equity	0.78	0.69	0.67	0.61	0.76	0.71	0.69	0.65	0.68	0.95	1.14
Debt / assets	0.33	0.31	0.3	0.29	0.34	0.33	0.33	0.32	0.31	0.39	0.43
Net debt / EBITDA	2.22	1.92	1.55	1.53	2.16	2.45	2.19	1.97	1.14	1.93	2.26
Interest coverage	8.32	9.57	8.77	8.1	2.76	5.31	4.51	4.37	8.61	4.38	4.38
Effective tax rate	28.6%	28.1%	27.5%	28%	26.6%	27.3%	26.9%	25.9%	29.8%	27.7%	24.9%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	3.53	3.66	4.03	4.5	4.46	4.88	5.52	6.52	10.6	11.1	11.4
EPS (basic)	4.31	3.69	4.15	4.93	1.42	3.37	4.57	5.16	2.8	2.47	2.47
EPS (diluted)	4.31	3.69	4.15	4.93	1.42	3.37	4.57	5.16	2.8	2.47	0.46
Book value per share	3.86	4.38	4.89	5.42	5.71	6.24	6.84	7.61	10.8	12.4	2.47
FCF per share	0.22	0.82	0.95	1.03	1.24	0.97	0.97	1.2	-0.18	-1.57	-2.35
Cash per share	0.47	0.57	0.76	0.56	0.95	0.79	0.89	0.83	1.57	3.61	4.95
Capex per share	0.01	0	0.01	0.02	0.01	0.01	0.02	0.04	2.35	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.2%	0.13%	0.31%	0.43%	0.24%	0.26%	0.33%	0.58%	22.2%	—	—
Capex / operating cash flow	0.65%	0.45%	1.03%	1.5%	0.86%	1.08%	1.48%	2.22%	92.2%	—	—
Payout ratio	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	31.8%
Dividend yield	0%	0%	0%	0%	0%	0%	0%	0%	—	0%	2.47%

Yield

2.47%

trailing twelve months

Frequency

Annual

Last dividend

$0.159

ex-dividend Mar 27, 2026

Payout ratio

32%

of earnings

Dividend growth

4 years

consecutive annual raises

Dividend per share

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

Recent payouts

Ex-dividend	Amount
Mar 27, 2026	$0.159
May 2, 2025	$0.657
Apr 26, 2024	$0.2808
May 2, 2023	$0.2527
Apr 29, 2022	$0.20
Apr 30, 2021	$0.071
May 1, 2020	$0.252
Apr 30, 2019	$0.30

Split history

Date	Ratio
May 7, 2026	5:1
Mar 27, 2026	1.00161:1
Dec 29, 2025	1.029647:1
Apr 30, 2013	3:1
Jan 24, 2013	2:1

Companhia de Saneamento Básico do Estado de São Paulo - SABESP ADR Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

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

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Companhia de Saneamento Básico do Estado de São Paulo - SABESP ADR Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

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

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history