Energisa S.A (ENGI3) fair value: what the stock is really worth
We calculate from audited financials what Energisa S.A is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 18, 2026.
How to read this chart
60‑month range R$8.23 – R$93.54 · fair‑value band R$12.14 – R$28.00 · the R$12.51 price screens below the R$19.47 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 18, 2026.
Energisa S.A., through its subsidiaries, engages in the generation, transmission, and distribution of electricity in Brazil. The company generates electricity through hydraulic, solar, and wind projects. It also provides natural gas for businesses and vehicular natural gas, as well as value-added services.
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Energisa S.A., through its subsidiaries, engages in the generation, transmission, and distribution of electricity in Brazil. The company generates electricity through hydraulic, solar, and wind projects. It also provides natural gas for businesses and vehicular natural gas, as well as value-added services. In addition, the company engages in aerial thermographic inspection and insurance brokerage activities. The company was founded in 1905 and is headquartered in Cataguases, Brazil. Energisa S.A. operates as a subsidiary of Gipar S.A.
Stock analysis
Energisa S.A (ENGI3) currently trades at R$12.51, while our model-based Fair Value estimate is R$19.47, implying the stock looks roughly 35.7% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of R$21.54 per share, and 14 of the 16 models we run sit above the R$12.51 price.
Bear case: the Asset-Based group reads lowest at R$5.53, and 2 of the 16 models stay below the price. Evidence for this calculation is medium.
Scenario range: R$12.14 (bear) to R$28.00 (bull), the price of R$12.51 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 24/100 (below-average quality), in the Utilities sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Energisa S.A reported revenue of R$35.4B in FY2025 versus R$26.5B in FY2021, a compound +7.6%/yr. Reported net income was R$2.2B in FY2025, compounding −3.9%/yr from FY2021.
Key figures
Market cap R$29.1B (≈ $5.7B) · P/E ratio 17.1 · P/S ratio 1.07 · EPS (TTM) R$0.7200 · Dividend yield 13.6% · Net margin 6.2% · Return on equity 12.1% · Return on assets (EBIT) 8.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 38% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −36% fair-value upside, at 56%, ENGI3 screens cheaper than that median.
Fair Value models
Bear R$12.14Fair Value R$19.47Bull R$28.00
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+5.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.9%
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+19.5%
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What shareholders gained per year (last 5 years), in BRL ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in BRL: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+16.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+3.3%
Dividend (yield on the price)13.6%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.3% vs 16%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.12% → 20%
News mood ⓘNews mood, the average tone of recent news (12 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Utilities - Regulated Electric · 156 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score24 · Bottom 25%
Fair Value upside+93% · Top 25%
Profitability
Return on equity (TTM)12% · Above median
Return on assets5% · Above median
Net margin (TTM)5% · Bottom 25%
Operating margin (TTM)18% · Below median
Growth and dividend
Revenue growth7% · Above median
Dividend yield (TTM)13.6% · Top 25%
Balance sheet
Debt / equity2.00× · Highest 25%
Valuation Multiplesvs Utilities - Regulated Electric median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Energisa S.A Fair Value". https://www.fairvalue-calculator.com/stock/ENGI3
Frequently asked questions
Is Energisa S.A (ENGI3) overvalued or undervalued?
As of Sep 18, 2026, our model estimates a fair value of R$19.47 versus a price of R$12.51, about +56% upside (undervalued).
What is the fair value of ENGI3?
Our model-based fair value for Energisa S.A is R$19.47 (as of Sep 18, 2026), built from audited fundamentals. The current price: R$12.51.
What is the quality score of ENGI3?
Energisa S.A has a Quality Score of 24/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Energisa S.A (ENGI3)?
Our model-based price target is the fair value of R$19.47 (as of Sep 18, 2026) from 16 valuation models. Cautious scenario R$12.14, optimistic scenario R$28.00. It is a calculation from audited fundamentals, not an analyst target.
What is the Energisa S.A stock forecast for 2026?
Our models put fair value at R$19.47, about +56% upside versus a price of R$12.51 (undervalued). Cautious scenario R$12.14, optimistic scenario R$28.00. The calculation is refreshed regularly with new filings.
What is the revenue of Energisa S.A (ENGI3)?
Energisa S.A reported trailing-twelve-month revenue of about R$36.0B (latest available figure, as of Sep 18, 2026).
Does Energisa S.A pay a dividend?
Energisa S.A currently shows a dividend yield of about 13.60% relative to its recent price (as of Sep 18, 2026).
What is the intrinsic value of Energisa S.A (ENGI3)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Energisa S.A it is R$19.47 per share (as of Sep 18, 2026), against a price of R$12.51. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Energisa S.A stock overvalued or undervalued in 2026?
As of Sep 18, 2026, ENGI3 trades below its calculated fair value: price R$12.51, fair value R$19.47, a gap of about +56% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ENGI3?
No. The price is what the market pays today (R$12.51); the fair value is what the company's own numbers justify (R$19.47). For Energisa S.A the two are R$6.96 per share apart. That gap is exactly why we show both numbers side by side.
How much is Energisa S.A worth?
The market values Energisa S.A at about R$29.1B (market capitalisation, as of Sep 18, 2026). Per share that is R$12.51; our models calculate a fair value of R$19.47 per share.
What do the bullish and bearish scenarios say about ENGI3?
Our models span a range for Energisa S.A: cautious scenario R$12.14, base R$19.47, optimistic R$28.00 per share (as of Sep 18, 2026, price R$12.51). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ENGI3?
Energisa S.A trades at a price-to-earnings ratio of 17.1 (as of Sep 18, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R$19.47 is built from several models across several years. Other multiples: P/B 1.6, P/S 0.9, EV/EBITDA 8.4.
How solid is the balance sheet of Energisa S.A (ENGI3)?
Balance-sheet figures for Energisa S.A (as of Sep 18, 2026): return on equity 12.1%, debt of 2.00 per unit of equity. They feed the Quality Score of 24/100, which measures business quality independently of the share price.
How far is ENGI3 from its 52-week high?
Energisa S.A trades at R$12.51, about 13% below its 52-week high of R$14.32 and 38% above the low of R$9.06 (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of R$19.47 is for.
Which stocks are comparable to Energisa S.A?
From the same area (Utilities) we also value NextEra Energy, Inc, The Southern Company, Duke Energy Corporation, National Grid plc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Energisa S.A stock attractive at the current price?
The data as of Sep 18, 2026: price R$12.51, calculated fair value R$19.47 (+56%), Quality Score 24/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ENGI3 calculated?
We run Energisa S.A through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of R$19.47, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 16.1 % above its aggregate fair value. Energisa S.A currently trades 56 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Energisa S.A (ENGI3)?
The closing price on Sep 21, 2026 was R$12.51. Our model-based fair value is R$19.47, about +56% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Energisa S.A right now?
The large discount to fair value meets weak quality (24/100). That raises the risk this is a value trap rather than a bargain. A fairly wide model range (R$12.14 to R$28.00) leaves room in how you read the outcome.
Where does the earnings growth of Energisa S.A (ENGI3) come from?
Earnings per share at Energisa S.A grew +23.4 % a year from 2014 to 2025. Broken into its drivers: revenue per share +6.9 %, EBIT margin +8.2 %, tax rate −0.4 %, residual (interest, one-offs) +7.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Energisa S.A
How large is the market capitalisation of Energisa S.A (ENGI3)?
The market capitalisation of Energisa S.A is R$29.1B (≈ $5.7B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Energisa S.A (ENGI3)?
The price-to-sales ratio of Energisa S.A is 1.07 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Energisa S.A (ENGI3)?
Earnings per share at Energisa S.A are R$0.7200 (price ÷ EPS = P/E 17.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Energisa S.A (ENGI3)?
The dividend yield of Energisa S.A is 13.6%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Energisa S.A (ENGI3)?
The net margin of Energisa S.A is 6.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Energisa S.A (ENGI3)?
The return on equity (ROE) of Energisa S.A is 12.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Energisa S.A (ENGI3)?
On an EBIT basis the return on assets of Energisa S.A is 8.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Energisa S.A (ENGI3)?
The operating margin of Energisa S.A is 18.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Energisa S.A (ENGI3)?
Revenue at Energisa S.A is growing +7.0% versus a year earlier (3y avg +11.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Energisa S.A (ENGI3)?
Earnings per share at Energisa S.A are growing −40.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Energisa S.A (ENGI3) generate?
The free cash flow of Energisa S.A is −R$5.8B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Energisa S.A (ENGI3) carry?
The net debt of Energisa S.A is R$43.3B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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