Overview Dividends

(SBS) Companhia de Saneamento - Ratings and Ratios

Exchange: NYSE • Country: Brazil • Currency: USD • Type: Common Stock • ISIN: US20441A1025

Water, Sewage, Treatment, Supply, Connections

Water Utilities
Market Cap in USD: 16,740m

IPO / Inception: 2002-05-10
Return 12m vs S&P 500: 50.9%

EPS (Earnings per Share)

EPS CAGR: -20.12%
EPS Trend: -46.9%

Last SUE: 0.15
Qual. Beats: 0

Revenue

Rev. CAGR: 18.02%
Rev. Trend: 79.6%

Last SUE: 0.87
Qual. Beats: 1

Dividends

Dividend Yield	4.65%
Yield on Cost 5y	15.91%
Yield CAGR 5y	99.91%
Payout Consistency	77.3%
Payout Ratio	73.2%

Risk via 5d forecast
Volatility	32.5%
Value at Risk 5%th	52.6%
Relative Tail Risk	-1.39%

Reward TTM
Sharpe Ratio	1.88
Alpha	68.82
CAGR/Max DD	1.57

Character TTM
Hurst Exponent	0.458
Beta	0.429
Beta Downside	0.114

Drawdowns 3y
Max DD	23.79%
Mean DD	6.12%
Median DD	5.08%

Description: SBS Companhia de Saneamento January 02, 2026

Companhia de Saneamento Básico do Estado de São Paulo (SABESP) is a Brazilian water-utility that delivers treated water and sewage services on a wholesale basis across São Paulo State. Founded in 1954 and headquartered in São Paulo, the firm operates under a regulated concession model that ties tariff adjustments to inflation and cost-of-service studies approved by state regulators.

As of 31 December 2024, SABESP serviced roughly 9.5 million water connections and 8.2 million sewage connections in 375 municipalities. The company’s 2023 revenue was about US$9.3 billion, with an EBITDA margin of ~58 % and a net debt-to-EBITDA ratio near 2.1×, reflecting a balance between capital-intensive infrastructure needs and strong cash-flow generation.

Key drivers for SABESP include Brazil’s ongoing urbanization (the São Paulo metro area adds ~1 % population annually), regulatory-approved tariff hikes that have averaged 5-6 % YoY over the past three years, and the broader water-utility sector’s shift toward digital metering and leakage-reduction programs, which can improve operational efficiency and support margin expansion. For a deeper dive into SABESP’s valuation metrics, see the analysis on ValueRay.

Piotroski VR‑10 (Strict, 0-10) 5.5

Net Income (8.03b TTM) > 0 and > 6% of Revenue (6% = 2.47b TTM)

FCFTA 0.11 (>2.0%) and ΔFCFTA -22.60pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -4.80% (prev 0.51%; Δ -5.31pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.11 (>3.0%) and CFO 10.12b > Net Income 8.03b (YES >=105%, WARN >=100%)

Net Debt (29.96b) to EBITDA (14.69b) ratio: 2.04 <= 3.0 (WARN <= 3.5)

Current Ratio 0.86 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (683.1m) change vs 12m ago -0.08% (target <= -2.0% for YES)

Gross Margin 35.31% (prev 54.67%; Δ -19.36pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 74.75% (prev 249.0%; Δ -174.2pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 13.49 (EBITDA TTM 14.69b / Interest Expense TTM 958.4m) >= 6 (WARN >= 3)

Altman Z'' 2.90

(A) -0.02 = (Total Current Assets 12.56b - Total Current Liabilities 14.53b) / Total Assets 95.99b

(B) 0.19 = Retained Earnings (Balance) 18.25b / Total Assets 95.99b

(D) 0.80 = Book Value of Equity 42.71b / Total Liabilities 53.28b

Total Rating: 2.90 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 76.54

1. Piotroski 5.50pt

2. FCF Yield 8.27%

3. FCF Margin 24.46%

4. Debt/Equity 0.82

5. Debt/Ebitda 2.04

6. ROIC - WACC (= 6.70)%

7. RoE 20.28%

8. Rev. Trend 79.64%

9. EPS Trend -46.93%

What is the price of SBS shares?

As of January 05, 2026, the stock is trading at USD 24.37 with a total of 1,351,304 shares traded.
Over the past week, the price has changed by -1.51%, over one month by -7.83%, over three months by +3.72% and over the past year by +78.35%.

Is SBS a buy, sell or hold?

Companhia de Saneamento has received a consensus analysts rating of 4.50. Therefore, it is recommended to buy SBS.

Strong Buy: 3
Buy: 3
Hold: 0
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the SBS price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	26.7	9.4%
Analysts Target Price	26.7	9.4%
ValueRay Target Price	37.3	52.9%

SBS Fundamental Data Overview January 03, 2026

Market Cap BRL = 91.70b (16.74b USD * 5.4778 USD.BRL)
P/E Trailing = 12.754
P/E Forward = 13.4048
P/S = 0.4831
P/B = 2.1476
P/EG = 2.55
Beta = 0.141
Revenue TTM = 41.21b BRL
EBIT TTM = 12.93b BRL
EBITDA TTM = 14.69b BRL
Long Term Debt = 28.92b BRL (from longTermDebt, last quarter)
Short Term Debt = 5.78b BRL (from shortTermDebt, last quarter)
Debt = 34.93b BRL (from shortLongTermDebtTotal, last quarter)
Net Debt = 29.96b BRL (from netDebt column, last quarter)
Enterprise Value = 121.93b BRL (91.70b + Debt 34.93b - CCE 4.69b)
Interest Coverage Ratio = 13.49 (Ebit TTM 12.93b / Interest Expense TTM 958.4m)
FCF Yield = 8.27% (FCF TTM 10.08b / Enterprise Value 121.93b)
FCF Margin = 24.46% (FCF TTM 10.08b / Revenue TTM 41.21b)
Net Margin = 19.50% (Net Income TTM 8.03b / Revenue TTM 41.21b)
Gross Margin = 35.31% ((Revenue TTM 41.21b - Cost of Revenue TTM 26.66b) / Revenue TTM)
Gross Margin QoQ = 31.77% (prev 41.82%)
Tobins Q-Ratio = 1.27 (Enterprise Value 121.93b / Total Assets 95.99b)
Interest Expense / Debt = 0.46% (Interest Expense 161.9m / Debt 34.93b)
Taxrate = 33.40% (1.08b / 3.24b)
NOPAT = 8.61b (EBIT 12.93b * (1 - 33.40%))
Current Ratio = 0.86 (Total Current Assets 12.56b / Total Current Liabilities 14.53b)
Debt / Equity = 0.82 (Debt 34.93b / totalStockholderEquity, last quarter 42.71b)
Debt / EBITDA = 2.04 (Net Debt 29.96b / EBITDA 14.69b)
Debt / FCF = 2.97 (Net Debt 29.96b / FCF TTM 10.08b)
Total Stockholder Equity = 39.62b (last 4 quarters mean from totalStockholderEquity)
RoA = 8.37% (Net Income 8.03b / Total Assets 95.99b)
RoE = 20.28% (Net Income TTM 8.03b / Total Stockholder Equity 39.62b)
RoCE = 18.86% (EBIT 12.93b / Capital Employed (Equity 39.62b + L.T.Debt 28.92b))
RoIC = 12.29% (NOPAT 8.61b / Invested Capital 70.07b)
WACC = 5.58% (E(91.70b)/V(126.63b) * Re(7.59%) + D(34.93b)/V(126.63b) * Rd(0.46%) * (1-Tc(0.33)))
Discount Rate = 7.59% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: -81.65 | Cagr: -0.03%
[DCF Debug] Terminal Value 81.43% ; FCFE base≈7.94b ; Y1≈9.80b ; Y5≈16.71b
Fair Price DCF = 405.0 (DCF Value 284.27b / Shares Outstanding 701.9m; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: -46.93 | EPS CAGR: -20.12% | SUE: 0.15 | # QB: 0
Revenue Correlation: 79.64 | Revenue CAGR: 18.02% | SUE: 0.87 | # QB: 1
EPS next Quarter (2026-03-31): EPS=0.41 | Chg30d=-0.045 | Revisions Net=-1 | Analysts=1
EPS next Year (2026-12-31): EPS=1.80 | Chg30d=-0.263 | Revisions Net=-2 | Growth EPS=+5.8% | Growth Revenue=+13.6%

Additional Sources for SBS Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle