Overview Dividends

(SBS) Companhia de Saneamento - Ratings and Ratios

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

Water, Sewage, Treatment, Connections

EPS (Earnings per Share)

EPS Growth (3y CAGR): -29.95%
EPS Trend (3y Corr): -63.0%

Last SUE: 0.15σ
Qual. Beats: 0

Revenue

Revenue Growth (3y CAGR): 18.33%
Revenue Trend (3y Corr): 67.7%

Last SUE: 0.87σ
Qual. Beats: 1

Risk via 10d forecast
Volatility	29.8%
Value at Risk 5%th	47.8%
Relative Tail Risk	-2.46%

Reward TTM
Sharpe Ratio	1.35
Alpha	47.55

Character TTM
Hurst Exponent	0.465
Beta	0.433
Beta Downside	0.253

Drawdowns 3y
Max DD	23.79%
Mean DD	6.80%
Median DD	5.59%

Description: SBS Companhia de Saneamento October 30, 2025

Companhia de Saneamento Básico do Estado de São Paulo (SABESP, NYSE:SBS) is Brazil’s largest water-and-sewage utility, serving 9.5 million water connections and 8.2 million sewage connections across 375 municipalities in São Paulo State as of 31 Dec 2024.

Key recent metrics: • 2024 revenue of R$ 30.2 bn, up 3.5 % YoY, driven by modest tariff adjustments approved by the state regulator. • Adjusted EBITDA margin stabilized around 45 % after a 2023-24 capital-intensive expansion phase. • Net debt/EBITDA ratio sits at 2.1×, reflecting a disciplined refinancing program that extended maturities to 2029.

Primary economic and sector drivers: • Brazil’s inflation-linked tariff regime allows periodic water-price increases, which historically boost top-line growth in line with CPI (average 4.2 % YoY over the past five years). • Ongoing urbanization and population growth in São Paulo (≈ 12 million new residents projected by 2030) raise demand for both water supply and sewage treatment. • Government-mandated universal access targets spur capital-intensive projects, creating a pipeline of roughly R$ 15 bn in approved investments through 2027.

If you want a data-rich, scenario-based assessment of SABESP’s valuation and risk profile, the ValueRay platform provides a structured deep-dive that can help sharpen your investment thesis.

SBS Stock Overview

Market Cap in USD	18,314m
Sub-Industry	Water Utilities
IPO / Inception	2002-05-10
Return 12m vs S&P 500	35.7%
Analyst Rating	4.50 of 5

SBS Dividends

Metric	Value
Dividend Yield	2.61%
Yield on Cost 5y	9.14%
Yield CAGR 5y	2.76%
Payout Consistency	74.6%
Payout Ratio	42.4%

SBS Growth Ratios

Metric	Value
CAGR 3y	35.67%
CAGR/Max DD Calmar Ratio	1.50
CAGR/Mean DD Pain Ratio	5.25
Current Volume	956.4k
Average Volume	1001.7k

Piotroski VR‑10 (Strict, 0-10) 7.0

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

FCFTA 0.11 (>2.0%) and ΔFCFTA 5.09pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -4.80% (prev 2.80%; Δ -7.60pp) (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 (13.97b) ratio: 2.14 <= 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 54.52%; Δ -19.21pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 47.89% (prev 46.72%; Δ 1.17pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 8.27 (EBITDA TTM 13.97b / Interest Expense TTM 1.48b) >= 6 (WARN >= 3)

Altman Z'' 2.28

(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: 2.28 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 75.65

1. Piotroski 7.0pt

2. FCF Yield 8.34%

3. FCF Margin 24.46%

4. Debt/Equity 0.82

5. Debt/Ebitda 2.14

6. ROIC - WACC (= 6.28)%

7. RoE 20.28%

8. Rev. Trend 67.69%

9. EPS Trend -63.04%

What is the price of SBS shares?

As of November 21, 2025, the stock is trading at USD 25.15 with a total of 956,350 shares traded.
Over the past week, the price has changed by -5.34%, over one month by +3.84%, over three months by +19.53% and over the past year by +51.81%.

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	25.7	2.3%
Analysts Target Price	25.7	2.3%
ValueRay Target Price	35.1	39.5%

SBS Fundamental Data Overview November 15, 2025

Market Cap BRL = 97.57b (18.31b USD * 5.3275 USD.BRL)
P/E Trailing = 13.3518
P/E Forward = 14.0056
P/S = 0.5285
P/B = 2.2408
P/EG = 2.55
Beta = 0.153
Revenue TTM = 41.21b BRL
EBIT TTM = 12.21b BRL
EBITDA TTM = 13.97b BRL
Long Term Debt = 21.86b BRL (from longTermDebt, last fiscal year)
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 = 120.85b BRL (97.57b + Debt 34.93b - CCE 11.65b)
Interest Coverage Ratio = 8.27 (Ebit TTM 12.21b / Interest Expense TTM 1.48b)
FCF Yield = 8.34% (FCF TTM 10.08b / Enterprise Value 120.85b)
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 = 1.26 (Enterprise Value 120.85b / Total Assets 95.99b)
Interest Expense / Debt = 1.95% (Interest Expense 679.5m / Debt 34.93b)
Taxrate = 33.40% (1.08b / 3.24b)
NOPAT = 8.13b (EBIT 12.21b * (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 = 2.14 (Net Debt 29.96b / EBITDA 13.97b)
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 = 19.86% (EBIT 12.21b / Capital Employed (Equity 39.62b + L.T.Debt 21.86b))
RoIC = 12.23% (NOPAT 8.13b / Invested Capital 66.51b)
WACC = 5.95% (E(97.57b)/V(132.49b) * Re(7.61%) + D(34.93b)/V(132.49b) * Rd(1.95%) * (1-Tc(0.33)))
Discount Rate = 7.61% (= 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 80.04% ; FCFE base≈7.70b ; Y1≈8.75b ; Y5≈12.00b
Fair Price DCF = 304.1 (DCF Value 207.68b / Shares Outstanding 683.0m; 5y FCF grow 15.97% → 3.0% )
EPS Correlation: -63.04 | EPS CAGR: -29.95% | SUE: 0.15 | # QB: 0
Revenue Correlation: 67.69 | Revenue CAGR: 18.33% | SUE: 0.87 | # QB: 1

Additional Sources for SBS Stock

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