Energy of Minas Gerais Co DRC (CIG-C) AI Stock Analysis

Companhia Energética de Minas Gerais - CEMIG engages in the generation, transmission, distribution, and sale of energy in Brazil. As of December 31, 2025, the company operated 32 hydro plants with 4,434 M of capacity, 2 wind farms with 71 MW of capacity, and 12 photovoltaic stations with 169 MW of capacity, alongside 365,577 miles of distribution lines and 4,865 miles of transmission lines. Beyond electricity, it handles the acquisition, transport, and distribution of gas, energy trading, solar plant services, cogeneration, and distributed generation.

CEMIG grew revenue from $33.65B in FY2021 to $42.75B in FY2025, recording a 5-year revenue compound annual growth rate of 11.1%. However, net income fell to $4.90B in FY2025 from $7.12B in FY2024, as operating margin contracted from 18.8% to 14.8%. Trailing twelve-month revenue reached $43.74B with an operating margin of 15.6% and net margin of 10.5%. For the latest quarter ended June 30, 2026, quarterly revenue grew 3.4% year-over-year, while quarterly earnings declined 20.4%.

As of June 30, 2026, CEMIG held $3.08B in cash and short-term investments against total debt of $22.75B, resulting in net debt of $19.67B. Shareholders' equity was $29.18B, with a debt-to-equity ratio of 0.78 and a current ratio of 1.17. In FY2025, operating cash flow was $4.00B and free cash flow was $3.31B. Capital expenditures totaled $685.4M, while the company returned $3.89B through dividends paid.

At $3.39 per share, CEMIG has a market cap of $9.70B and an enterprise value of $10.36B. The stock trades at a trailing P/E of 10.9x and forward P/E of 11.6x, compared to medians of 20.6x and 17.2x for its US-listed Utilities peers. Its EV/EBITDA stands at 6.2x versus the peer median of 12.1x. Over the past year, CIG-C gained 42.8% against a 16.8% return for the S&P 500 (SPY), and its 5-year gain was 159.2% compared to 83.0% for the index.

CEMIG offers an annual forward dividend of $0.15, representing a dividend yield of 4.32% with a payout ratio of 46.9%. The company has paid dividends for 19 consecutive years, and its annualized 5-year dividend growth rate is 46.6%. Its last ex-dividend date was September 28, 2026.

For the fiscal year ending December 31, 2026, analysts estimate revenue of $37.73B, followed by $35.42B in the next fiscal year, representing an estimated revenue decline of 6.1%. Over the last four quarters, CEMIG has posted 3 EPS beats. Institutional ownership sits at 0.1%, while short interest represents 0.0% of the float.

This page is an AI-written research summary of Energy of Minas Gerais Co DRC (CIG-C). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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