Eneva S.A (ENEV3) Fair Value & Analysis
Utilities · BR · Market cap R$49.1B (≈ $9.6B) · ISIN BRENEVACNOR8
What is Eneva S.A really worth?
Below-average quality, and trading another 199% above our fair value of R$9.26.
Risks
Fair value as of: Aug 30, 2026
From 16 valuation models · updated 6 days ago
Share price +1.8% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (R$11.57). The favourable scenario is already priced in.
- Weak quality (32/100) and above fair value at the same time, the margin of safety is missing on both counts.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.
How to read this chart
60‑month range R$9.55 – R$27.64 · fair‑value band R$6.94 – R$11.57 · the R$27.64 price screens above the R$9.26 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 30, 2026.
Analysis
Eneva S.A (ENEV3) currently trades at R$27.64, while our model-based Fair Value estimate is R$9.26, implying the stock looks roughly 198.6% overvalued today. The Quality Score stands at 32/100 (below-average quality), in the Utilities sector. Bull case: the Growth Earnings group reads highest at a median of R$26.47 per share, and 1 of the 16 models we run sit above the R$27.64 price. Bear case: the Dividend Discount group reads lowest at R$1.97, and 15 of the 16 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, Eneva S.A generated revenue of R$18.7B at a net margin of 6.9%. Revenue grew 5.8% year over year. It earns a return on equity of 8.7%. Net debt stands at R$21.2B. Fundamentals as of Aug 30, 2026
Our scenario range runs from R$6.94 (bear case) to R$11.57 (bull case); at R$27.64, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 2% below its 52-week high and 113% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at −38% fair-value upside, at −67%, ENEV3 screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly R$0.4060 per share, which is 4.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 16 models by family
Widest divergence: Growth Earnings (R$26.47) versus Dividend Discount (R$1.97). Highest evidence: Residual Income (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 32 · Market factors (momentum, volatility) 85
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Eneva S.A., an integrated energy company, engages in the exploration, production, and commercialization of natural gas and liquids in Brazil. The company generates electricity through natural gas, steam, coal, and solar energy.
Full company description
Eneva S.A., an integrated energy company, engages in the exploration, production, and commercialization of natural gas and liquids in Brazil. The company generates electricity through natural gas, steam, coal, and solar energy. It also supplies natural gas solutions to the on-grid and off-grid market for thermal power plants, pipeline operators, and industrial clients; including transportation, LNG regasification, and floating storage. The company was formerly known as MPX Energia S.A. and changed its name to Eneva S.A. in October 2013. Eneva S.A. was incorporated in 2001 and is headquartered in Rio De Janeiro, Brazil.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Eneva S.A reported revenue of R$18.4B in FY2025 versus R$5.1B in FY2021, a compound +37.7%/yr. Reported net income was R$1.2B in FY2025, compounding −0.3%/yr from FY2021.
ENEV3 screens 199% overvalued. Compare with Iberdrola, S.A →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Eneva SA (BSP:ENEV3) (Q2 2026) Earnings Call Highlights: Record Cash Flow and Strategic ...
- Eneva SA (BSP:ENEV3) Q4 2025 Earnings Call Highlights: Record EBITDA and Strategic Growth ...
- Eneva SA (BSP:ENEV3) Q3 2025 Earnings Call Highlights: Record EBITDA and Strategic Growth Amid ...
- Accenture plc (ACN) and Google Cloud Partners with Eneva
Peer Group
Utilities - Diversified · 52 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Utilities - Diversified median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Utilities - Diversified stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Iberdrola, S.A IBE | €20.28 | €8.45 | −58% |
| Enel SpA ENEL | €9.42 | €4.82 | −49% |
| Engie SA ENGI | €24.50 | €21.15 | −14% |
| Sempra SRE | $84.57 | $44.47 | −47% |
| E.ON SE EOAN | €17.83 | €11.71 | −34% |
| RWE Aktiengesellschaft generates and RWE | €59.10 | €55.77 | −6% |
| ACWA Power Company 2082 | 184.00 SAR | 24.19 SAR | −87% |
| Brookfield Infrastructure Partners L.P. BIPUN | C$54.99 | C$34.34 | −38% |
| EnBW Energie Baden-Württemberg AG EBK | €68.60 | €21.11 | −69% |
| EDP, S.A EDP | €4.70 | €3.81 | −19% |
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