Stock TAEE11 TAESA (TRANSMISSORA ALIANÇA DE ENERGIA ELÉTRICA) S.A.
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Financials Taesa (Transmissora Aliança de Energia Elétrica) S.A.

Equities

TAEE11

BRTAEECDAM10

Electric Utilities

Market Closed - Sao Paulo
Other stock markets
 04:07:30 2024-04-26 pm EDT 		5-day change 1st Jan Change
35.25 BRL +0.57% Intraday chart for Taesa (Transmissora Aliança de Energia Elétrica) S.A. -1.29% -8.16%
Mar. 07 Transcript : Transmissora Aliança de Energia Elétrica S.A., Q4 2023 Earnings Call, Mar 07, 2024
Mar. 07 Transmissora Aliança de Energia Elétrica S.A. Reports Earnings Results for the Fourth Quarter Ended December 31, 2023 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 10,741 11,482 12,529 11,944 13,222 12,144 - -
Enterprise Value (EV) 1 13,582 16,688 18,750 19,045 21,740 20,962 21,473 21,241
P/E ratio 10.7 x 15.2 x 5.66 x 8.24 x 9.67 x 10.1 x 9.32 x 9.67 x
Yield 6.12% 14% 14.3% 11.4% - 10.1% 9.03% 12%
Capitalization / Revenue 7.7 x 7.53 x 6.82 x 4.56 x 5.44 x 4.85 x 4.57 x 4.27 x
EV / Revenue 9.74 x 10.9 x 10.2 x 7.28 x 8.95 x 8.37 x 8.08 x 7.46 x
EV / EBITDA 11.8 x 13.4 x 12.4 x 10 x 10.6 x 10.1 x 9.54 x 8.69 x
EV / FCF 15.5 x 35 x 14.2 x 11.2 x 31.9 x 18.6 x 25.3 x 13.1 x
FCF Yield 6.46% 2.85% 7.04% 8.92% 3.13% 5.39% 3.95% 7.63%
Price to Book 2.18 x 1.91 x 1.87 x 1.82 x 1.98 x 1.67 x 1.59 x 1.56 x
Nbr of stocks (in thousands) 344,499 344,499 344,499 344,499 344,499 344,499 - -
Reference price 2 31.18 33.33 36.37 34.67 38.38 35.25 35.25 35.25
Announcement Date 3/12/20 3/4/21 2/17/22 3/15/23 3/7/24 - - -
1BRL in Million2BRL
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,394 1,525 1,837 2,617 2,430 2,504 2,659 2,845
EBITDA 1 1,154 1,249 1,516 1,901 2,043 2,081 2,252 2,444
EBIT 1 958.5 1,007 1,255 1,876 1,710 1,765 1,932 2,129
Operating Margin 68.75% 66.04% 68.33% 71.71% 70.38% 70.49% 72.66% 74.83%
Earnings before Tax (EBT) 1 899.6 696.4 578.1 1,704 1,196 1,301 1,354 1,440
Net income 1 767.7 656 517.2 1,449 1,093 1,198 1,247 1,314
Net margin 55.06% 43.02% 28.15% 55.39% 44.99% 47.85% 46.89% 46.18%
EPS 2 2.908 2.190 6.426 4.207 3.970 3.478 3.783 3.647
Free Cash Flow 1 877.4 476.4 1,320 1,700 681.1 1,130 848 1,620
FCF margin 62.93% 31.24% 71.84% 64.96% 28.03% 45.13% 31.89% 56.93%
FCF Conversion (EBITDA) 76.05% 38.14% 87.07% 89.39% 33.34% 54.31% 37.66% 66.3%
FCF Conversion (Net income) 114.28% 72.61% 255.16% 117.28% 62.31% 94.33% 68.02% 123.29%
Dividend per Share 2 1.909 4.660 5.200 3.942 - 3.554 3.183 4.238
Announcement Date 3/12/20 3/4/21 2/17/22 3/15/23 3/7/24 - - -
1BRL in Million2BRL
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 497.5 550.9 795.6 583.7 583.9 946.4 692.9 678.6 686.5 592 599 - - -
EBITDA 1 421 447 454.4 464.9 498.1 484 547.5 393.2 421.5 484.2 583.7 449 494 524
EBIT 356.7 378.2 383 392.9 425.3 675.3 542.2 389.4 - 413.8 - 443 485 512
Operating Margin 71.71% 68.65% 48.14% 67.31% 72.83% 71.35% 78.25% 57.38% - 69.89% - - - -
Earnings before Tax (EBT) - - - - - 933.8 447.9 - - 309.2 - 336 341 377
Net income 1 192.1 105.5 559.9 564 373.7 787.6 386.8 220.4 278.9 301.1 275.3 318 322 350
Net margin 38.61% 19.15% 70.37% 96.63% 64% 83.22% 55.82% 32.48% 40.63% 50.86% 45.97% - - -
EPS 2 1.558 1.228 0.5418 0.5457 0.8778 0.0661 0.3742 0.6398 0.2699 1.398 0.8098 0.9231 0.9346 1.016
Dividend per Share 2 - - - - - - - - - - - - - 2.950
Announcement Date 11/10/21 2/17/22 5/12/22 8/25/22 11/9/22 3/15/23 5/3/23 8/2/23 11/8/23 3/7/24 - - - -
1BRL in Million2BRL
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,841 5,206 6,221 7,102 8,518 8,819 9,330 9,098
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.462 x 4.168 x 4.104 x 3.735 x 4.17 x 4.239 x 4.143 x 3.723 x
Free Cash Flow 1 877 476 1,320 1,700 681 1,130 848 1,620
ROE (net income / shareholders' equity) 21.1% 11.9% 8.14% 21.9% 20.6% 62.4% 66.5% 81.5%
ROA (Net income/ Total Assets) 10.1% 5.17% 3.45% 8.73% 7.44% 6.33% 5.19% 5.31%
Assets 1 7,604 12,699 15,001 16,602 14,687 18,934 24,026 24,726
Book Value Per Share 2 14.30 17.50 19.40 19.10 19.40 21.10 22.20 22.60
Cash Flow per Share 2 2.600 0.8800 4.200 5.840 2.200 3.480 - -
Capex 1 18.8 41.2 129 311 75.3 626 1,082 441
Capex / Sales 1.35% 2.7% 7.01% 11.89% 3.1% 25% 40.69% 15.5%
Announcement Date 3/12/20 3/4/21 2/17/22 3/15/23 3/7/24 - - -
1BRL in Million2BRL
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Taesa (Transmissora Aliança de Energia Elétrica) S.A.

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
11
Last Close Price
35.25 BRL
Average target price
35.34 BRL
Spread / Average Target
+0.25%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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