Stock CSRN3 COMPANHIA ENERGÉTICA DO RIO GRANDE DO NORTE - COSERN
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Financials Companhia Energética do Rio Grande do Norte - COSERN

Equities

CSRN3

BRCSRNACNOR0

Electric Utilities

Market Closed - Sao Paulo
Other stock markets
 03:45:22 2024-04-26 pm EDT 		5-day change 1st Jan Change
24.51 BRL +0.04% Intraday chart for Companhia Energética do Rio Grande do Norte - COSERN +0.04% -12.15%
Apr. 24 Companhia Energética do Rio Grande do Norte - COSERN Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
Mar. 14 Neoenergia S.A. launched a bid to acquire the remaining 6.89% stake in Companhia Energética do Rio Grande do Norte - COSERN (BOVESPA : CSRN3). CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 2,847 3,099 2,942 2,680 3,546 4,675
Enterprise Value (EV) 1 4,214 4,541 4,439 4,670 5,744 7,041
P/E ratio 11.9 x 11.5 x 8.59 x 5.01 x 6.19 x 7.99 x
Yield 6.7% 1.81% 9.57% 16.8% 9.43% 8.49%
Capitalization / Revenue 1.19 x 1.18 x 1.05 x 0.74 x 1 x 1.29 x
EV / Revenue 1.76 x 1.73 x 1.59 x 1.29 x 1.62 x 1.95 x
EV / EBITDA 8.28 x 8.66 x 7.6 x 5.42 x 5.41 x 6.44 x
EV / FCF -86.7 x -37.6 x 157 x -33.6 x 21.6 x 32.7 x
FCF Yield -1.15% -2.66% 0.64% -2.98% 4.62% 3.06%
Price to Book 2.98 x 2.99 x 2.21 x 1.77 x 2.56 x 3.03 x
Nbr of stocks (in thousands) 168,074 168,074 168,074 168,074 168,074 168,074
Reference price 2 17.15 18.70 17.47 15.89 21.40 27.90
Announcement Date 2/15/19 2/17/20 2/9/21 2/17/22 2/15/23 2/7/24
1BRL in Million2BRL
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 2,397 2,623 2,794 3,616 3,544 3,618
EBITDA 1 508.8 524.4 584 862 1,062 1,093
EBIT 1 425.8 430.2 478 729 910 924
Operating Margin 17.76% 16.4% 17.11% 20.16% 25.68% 25.54%
Earnings before Tax (EBT) 1 290.7 324.7 413 651 721 627
Net income 1 241.7 273.1 342 533 581 587
Net margin 10.08% 10.41% 12.24% 14.74% 16.39% 16.22%
EPS 2 1.438 1.625 2.035 3.171 3.457 3.493
Free Cash Flow 1 -48.6 -120.7 28.25 -139.1 265.4 215.1
FCF margin -2.03% -4.6% 1.01% -3.85% 7.49% 5.95%
FCF Conversion (EBITDA) - - 4.84% - 24.99% 19.68%
FCF Conversion (Net income) - - 8.26% - 45.68% 36.65%
Dividend per Share 2 1.149 0.3387 1.673 2.665 2.018 2.369
Announcement Date 2/15/19 2/17/20 2/9/21 2/17/22 2/15/23 2/7/24
1BRL in Million2BRL
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 1,366 1,442 1,497 1,990 2,198 2,366
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 2.686 x 2.749 x 2.563 x 2.309 x 2.07 x 2.165 x
Free Cash Flow 1 -48.6 -121 28.3 -139 265 215
ROE (net income / shareholders' equity) 26.6% 27.1% 28.7% 37.5% 39.8% 39.8%
ROA (Net income/ Total Assets) 8.78% 7.41% 6.88% 9.29% 10.9% 10.6%
Assets 1 2,753 3,687 4,968 5,737 5,343 5,554
Book Value Per Share 2 5.750 6.260 7.910 9.000 8.360 9.200
Cash Flow per Share 2 1.750 1.440 1.240 0.9900 1.430 2.150
Capex - - - - - -
Capex / Sales - - - - - -
Announcement Date 2/15/19 2/17/20 2/9/21 2/17/22 2/15/23 2/7/24
1BRL in Million2BRL
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Other Electric Utilities

1st Jan change Capi.
COMPANHIA ENERGÉTICA DO RIO GRANDE DO NORTE - COSERN Stock Companhia Energética do Rio Grande do Norte - COSERN
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