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Companhia de Saneamento de Minas Gerais (CSMG3.SA)

BRL66.62 +0.35 (+0.53%)
BR SAO Utilities Regulated Water
Address Rua Mar de Espanha, 525 30330-900
Belo Horizonte, MG, BR
CEO Marilia Carvalho de Melo
IPO 2006-02-08
ISIN BRCSMGACNOR5

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Description

Companhia de Saneamento de Minas Gerais (CSMG3.SA) is involved in the complete lifecycle of water and sewage services, from planning and design to execution, expansion, modernization, management, and ongoing provision, operating both within Brazil and on an international scale. The company's operations are divided into Water Services, Sewage Services, and Solid Waste segments. Its solid waste management capabilities include the collection, recycling, treatment, and final disposal of urban, household, and industrial waste. Additionally, it offers urban rainwater drainage and management services, specifically in cities across northern Minas Gerais and within the Jequitinhonha, Mucuri, São Mateus, Buranhém, Itanhém, and Jucuruçu river basins. As of December 31, 2020, CSMG3.SA administered 640 concessions for water services and 310 for sewage services. Founded in 1963, the company was initially known as Companhia Mineira de Água e Esgotos before adopting its current name in November 1974. Its headquarters are located in Belo Horizonte, Brazil.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
BRL66.62 +0.35 (+0.53%)
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Volume Profile
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Liquidity & share structure
Average Volume
6M
Beta
0.33
Float Shares
188.40M
Free Float %
49.7%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-1.05% -3.56% -9.85% -11.09% +34.29% +18.93% +122.65% +164.18% +196.44% +519.90% +550.31%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
66.62
DCF (Unlevered) 233.73 +250.8%
DCF (Levered) 183.69 +175.7%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 57% Bullish
Rating 2026-05 Change
Strong Buy 4 +1
Buy 4 0
Hold 6 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
1.93
Grey zone
Piotroski F-Score
5 / 9
Average
MOAT Score
6 / 10
Developing
Composite Rating
A+
Overall Score
4 / 5
High
DCF Score
5 / 5
High
ROE Score
5 / 5
High
ROA Score
5 / 5
High
D/E Score
3 / 5
Medium
P/E Score
4 / 5
High
P/Book Score
2 / 5
Medium
Operational MOAT
✗ Below peers
  • Revenue growth Regulated Water: +6.5%
    +5.7% Q1'26: +3.2% (vs Q1'25)
  • EPS growth Regulated Water: +7.9%
    +7.5% Q1'26: -14.2% (vs Q1'25)
  • FCF margin FCF growth · Regulated Water: +32.9%
    +29.2% Q1'26: +24.3% (vs Q1'25)
  • EBIT margin Regulated Water: +27.3%
    +24.7% Q1'26: +25.8% (vs Q1'25)
  • ROIC Regulated Water: +4.5%
    +10.8% Q1'26: +11.2% (vs Q1'25)
  • Share dilution Regulated Water: +0.0%
    +0.0% Q1'26: +0.0% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Regulated Water: 3.43×
    2.58× Q1'26: 2.93× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.40) × ERP
WACC = 72% × Ke + 28% × Kd (6.7%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 233.73 Current price: 66.62
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2015
actual
Dec 2016
actual
Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
6 Rev. Ana.
3 EPS Ana.
Dec 2027
7 Rev. Ana.
6 EPS Ana.
Dec 2028
3 Rev. Ana.
1 EPS Ana.
Dec 2029
2 Rev. Ana.
1 EPS Ana.
Dec 2030
1 Rev. Ana.
Revenue
3.83B
est: 3.39B (+13.0%)
4.03B
est: 3.96B (+1.7%)
4.33B
est: 4.29B (+0.8%)
4.74B
est: 4.51B (+5.1%)
5.16B
est: 4.76B (+8.2%)
5.34B
est: 5.16B (+3.6%)
5.89B
est: 5.57B (+5.8%)
6.18B
est: 5.68B (+8.7%)
7.40B
est: 7.70B (-3.8%)
7.88B
est: 7.32B (+7.6%)
8.33B
est: 7.64B (+9.0%)
8.26B
8.04B – 8.97B
+8.0% YoY
8.88B
8.47B – 9.57B
+7.5% YoY
9.57B
9.55B – 9.59B
+7.7% YoY
10.23B
9.85B – 11.07B
+7.0% YoY
11.60B
11.17B – 12.55B
+13.4% YoY
EBITDA
799.77M
est: 1.17B (-31.7%)
1.49B
est: 1.37B (+9.0%)
1.56B
est: 1.48B (+5.5%)
1.49B
est: 1.55B (-3.9%)
1.81B
est: 1.64B (+10.2%)
1.91B
est: 1.78B (+7.2%)
1.71B
est: 1.92B (-11.0%)
2.10B
est: 1.96B (+7.3%)
2.79B
est: 3.34B (-16.5%)
2.84B
est: 3.17B (-10.4%)
3.01B
est: 3.31B (-9.3%)
3.58B
3.48B – 3.89B
+8.0% YoY
3.85B
3.67B – 4.15B
+7.5% YoY
4.15B
4.14B – 4.16B
+7.7% YoY
4.44B
4.27B – 4.80B
+7.0% YoY
5.03B
4.84B – 5.44B
+13.4% YoY
EBIT
249.03M
est: 780.96M (-68.1%)
893.43M
est: 912.23M (-2.1%)
997.60M
est: 987.22M (+1.1%)
925.93M
est: 1.04B (-10.7%)
1.21B
est: 1.10B (+10.2%)
1.26B
est: 1.19B (+6.3%)
961.05M
est: 1.28B (-25.0%)
1.37B
est: 1.31B (+5.0%)
1.99B
est: 2.61B (-23.6%)
2.05B
est: 2.48B (-17.5%)
2.06B
est: 2.59B (-20.6%)
2.80B
2.73B – 3.04B
+8.0% YoY
3.01B
2.87B – 3.25B
+7.5% YoY
3.25B
3.24B – 3.25B
+7.7% YoY
3.47B
3.34B – 3.76B
+7.0% YoY
3.94B
3.79B – 4.26B
+13.4% YoY
Net Income
-11.59M
est: 47.80M (-124.3%)
434.16M
est: 356.92M (+21.6%)
560.44M
est: 497.52M (+12.6%)
578.70M
est: 485.76M (+19.1%)
754.37M
est: 587.02M (+28.5%)
816.48M
est: 684.98M (+19.2%)
537.59M
est: 632.20M (-15.0%)
843.36M
est: 635.33M (+32.7%)
1.38B
est: 1.47B (-6.1%)
1.32B
est: 1.36B (-3.0%)
1.42B
est: 1.42B (+0.0%)
1.58B
1.10B – 1.63B
+11.5% YoY
1.48B
1.31B – 2.53B
-6.4% YoY
1.58B
1.46B – 1.70B
+6.8% YoY
1.57B
1.50B – 1.74B
-0.4% YoY
— – —
-100.0% YoY
SGA
845.91M
est: 115.01M (+635.5%)
699.59M
est: 134.34M (+420.8%)
865.76M
est: 145.38M (+495.5%)
946.92M
est: 152.68M (+520.2%)
150.26M
est: 161.47M (-6.9%)
153.86M
est: 174.76M (-12.0%)
198.28M
est: 188.76M (+5.0%)
230.21M
est: 192.53M (+19.6%)
227.47M
est: 452.80M (-49.8%)
307.38M
est: 430.55M (-28.6%)
1.28B
est: 449.60M (+184.3%)
485.70M
472.61M – 527.85M
+8.0% YoY
522.23M
497.92M – 562.82M
+7.5% YoY
562.67M
561.54M – 563.79M
+7.7% YoY
601.90M
579.61M – 651.33M
+7.0% YoY
682.28M
657.02M – 738.31M
+13.4% YoY
EPS
-0.03
est: 0.13 (-126.4%)
1.19
est: 0.94 (+26.4%)
1.47
est: 1.31 (+12.0%)
1.53
est: 1.28 (+19.4%)
1.99
est: 1.55 (+28.5%)
2.15
est: 1.81 (+19.0%)
1.42
est: 1.67 (-14.8%)
2.22
est: 1.68 (+32.5%)
3.64
est: 3.87 (-6.0%)
3.47
est: 3.49 (-0.6%)
3.73
est: 3.68 (+1.4%)
3.60
2.89 – 4.30
-2.0% YoY
4.50
3.46 – 6.67
+24.7% YoY
4.05
3.85 – 4.48
-10.0% YoY
4.15
3.95 – 4.59
+2.6% YoY
— – —
-100.0% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-11 A+ 4/5 5/5 5/5 5/5 3/5 4/5 2/5
2026-05-08 A+ 4/5 5/5 5/5 5/5 3/5 4/5 2/5
2026-05-07 A+ 4/5 5/5 5/5 5/5 3/5 4/5 2/5
2026-05-06 A+ 4/5 5/5 5/5 5/5 3/5 4/5 2/5
2026-05-05 A+ 4/5 5/5 5/5 5/5 3/5 4/5 2/5
2026-05-04 A+ 4/5 5/5 5/5 5/5 3/5 4/5 2/5
2026-04-30 A 4/5 5/5 5/5 5/5 2/5 4/5 2/5
2026-04-29 A 4/5 5/5 5/5 5/5 2/5 4/5 2/5
2026-04-28 A 4/5 5/5 5/5 5/5 2/5 4/5 2/5
2026-04-27 A 4/5 5/5 5/5 5/5 2/5 4/5 2/5
2026-04-24 A 4/5 5/5 5/5 5/5 2/5 4/5 2/5
2026-04-23 A 4/5 5/5 5/5 5/5 2/5 3/5 2/5
2026-04-22 A 4/5 5/5 5/5 5/5 2/5 3/5 2/5
2026-04-20 A 4/5 5/5 5/5 5/5 2/5 3/5 2/5
2026-04-17 A 4/5 5/5 5/5 5/5 2/5 3/5 2/5
2026-04-16 A 4/5 5/5 5/5 5/5 2/5 3/5 2/5
2026-04-15 A 4/5 5/5 5/5 5/5 2/5 3/5 2/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
2.03B
OE per share TTM
5.34
Owner's Yield
10.10%
Maintenance CapEx ratio
21.75%
Maint CapEx / Avg PPE
58.8%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
214.3K
Shares Outstanding
379.18M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Adriano Rudek de Moura Chief Financial and Investor Relations Officer & Member of Executive Board male
Cleyson Jacomini de Sousa Director of Clients, Communications & Sustainability and Member of Executive Board
Laura Petri Geraldino Director of Operations & Member of Executive Board female
Marilia Carvalho de Melo CEO, Director & Chairman of Executive Board female
Pablo Ferraço Andreão Director of Engineering and Environment & Member of Executive Board male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits