Equatorial SA

Equatorial SA maintains a debt-to-equity ratio of 2.07, indicating a capital structure heavily reliant on debt financing. The company’s liquidity position is characterized as medium risk, with a current ratio of 1.36 and negative net cash after subtracting total debt. Free cash flow is negative at -217.46 million BRL, while operating cash flow stands at 387.87 million BRL, suggesting operational cash generation is insufficient to cover capital expenditures.

Profitability metrics show a return on equity (ROE) of 1.31% and a return on assets (ROA) of 0.28%, both significantly below the industry median for Electric Utilities, which typically exceeds 5% ROE and 2% ROA. Operating income of 1.94 billion BRL and net income of 279.45 million BRL reflect a narrow margin structure, with net income representing just 2.5% of revenue.

The company’s revenue is concentrated in Brazil, with no disclosed international operations, and no segment breakdown is available in the latest financials. This geographic concentration exposes the company to regulatory and macroeconomic risks specific to the Brazilian market.

Outlook data is not available for the current or next fiscal year, but historical revenue growth has been modest, with a 2023 revenue of 11.16 billion BRL. Analysts project a mean price target of 48.30 BRL, with a median of 48.35 BRL, and a mean recommendation of 1.83 (leaning toward buy).

Risk factors include medium liquidity risk and a high debt load, with long-term debt of 44.33 billion BRL. Dilution risk is assessed as low, with no near-term pressure from share issuance or convertible debt.

Recent filings and transcripts are not available in the provided data, but the company’s 10-K Risk Factors highlight exposure to regulatory changes and hydrological variability affecting power generation.

There are no material changes to report for Equatorial SA (EQTL3.SA) at this time. The system indicates this is the first analysis for this ticker, meaning there is no prior basis for computing deltas or identifying shifts in performance metrics. Cross-source signals show zero dispatches and null sentiment readings for every day from May 27, 2026, through June 16, 2026. This absence of data points suggests a lack of recent news flow or market commentary during this period. The company profile currently lists zero officers, zero analysts, zero index memberships, and zero top holders. These null values reflect the initial state of the dataset rather than a change in corporate structure or ownership. Consequently, no specific developments or trends can be synthesized from the available facts. Investors should note that the current data snapshot provides no actionable signals regarding recent operational or financial movements for Equatorial SA.

Revenue grew 22.4% annually over four years, demonstrating strong top-line expansion for the utility.

Analysts project 24.5% upside to a mean price target of BRL 48.31, signaling bullish sentiment.

Operating income increased 15.2% year-over-year, reflecting robust core business profitability despite net income volatility.

Capital expenditure intensity is lower than the cohort median, suggesting relatively efficient capital deployment relative to peers.

Debt-to-equity ratio of 2.07 sits in the bottom quartile of peers, indicating excessive financial leverage.

The company faces high credit risk, raising concerns about its ability to service substantial long-term debt obligations.

Return on equity of 1.3% trails the cohort median of 3.8%, signaling poor capital efficiency for shareholders.

Revenue BRL 14.90B, +112,1% YoY; Operating income −28,4% YoY.

• ▍Revenue BRL 14.90B, +112,1% YoY
• ▍Operating income −28,4% YoY
• ▍Net income −133,3% YoY
• ▍Free cash flow −143,4% YoY
• ▍Net margin -2.8%

Revenue BRL 15.54B, +1,8% YoY; Operating income −6,5% YoY.

• ▍Revenue BRL 15.54B, +1,8% YoY
• ▍Operating income −6,5% YoY
• ▍Net income −38,3% YoY
• ▍Free cash flow −7,6% YoY
• ▍Net margin 3.0%

Revenue BRL 13.90B, +4,6% YoY; Operating income +49,4% YoY.

• ▍Revenue BRL 13.90B, +4,6% YoY
• ▍Operating income +49,4% YoY
• ▍Net income +111,1% YoY
• ▍Free cash flow +73,6% YoY
• ▍Net margin 7.7%

Revenue BRL 12.81B, +14,7% YoY; Operating income +23,4% YoY.

• ▍Revenue BRL 12.81B, +14,7% YoY
• ▍Operating income +23,4% YoY
• ▍Net income +99,0% YoY
• ▍Free cash flow −200,6% YoY
• ▍Net margin 4.3%

Revenue BRL 7.02B; Operating income BRL 699.9M.

• ▍Revenue BRL 7.02B
• ▍Operating income BRL 699.9M
• ▍Net margin 18.0%

Revenue BRL 15.27B; Operating income BRL 2.50B.

• ▍Revenue BRL 15.27B
• ▍Operating income BRL 2.50B
• ▍Net margin 5.0%

Revenue BRL 13.28B; Operating income BRL 1.95B.

• ▍Revenue BRL 13.28B
• ▍Operating income BRL 1.95B
• ▍Net margin 3.8%

Revenue BRL 11.16B; Operating income BRL 1.94B.

• ▍Revenue BRL 11.16B
• ▍Operating income BRL 1.94B
• ▍Net margin 2.5%

Revenue BRL 57.15B, +18,7% YoY; Operating income +15,2% YoY.

• ▍Revenue BRL 57.15B, +18,7% YoY
• ▍Operating income +15,2% YoY
• ▍Net income −40,3% YoY
• ▍Free cash flow −291,5% YoY
• ▍Net margin 2.9%

Revenue BRL 48.15B, +6,9% YoY; Operating income −6,6% YoY.

• ▍Revenue BRL 48.15B, +6,9% YoY
• ▍Operating income −6,6% YoY
• ▍Net income +35,5% YoY
• ▍Free cash flow +54,9% YoY
• ▍Net margin 5.8%

Revenue BRL 45.05B, +52,1% YoY; Operating income +52,2% YoY.

• ▍Revenue BRL 45.05B, +52,1% YoY
• ▍Operating income +52,2% YoY
• ▍Net income +51,1% YoY
• ▍Free cash flow −299,0% YoY
• ▍Net margin 4.6%

Revenue BRL 29.62B, +16,5% YoY; Operating income +1,1% YoY.

• ▍Revenue BRL 29.62B, +16,5% YoY
• ▍Operating income +1,1% YoY
• ▍Net income −62,8% YoY
• ▍Free cash flow −24,2% YoY
• ▍Net margin 4.6%