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Transmissora Aliança de Energia Elétrica S.A (TAEE11) Fair Value & Analysis

Utilities · BR · Market cap R$42.3B (≈ $8.3B) · ISIN BRTAEECDAM10

What is Transmissora Aliança de Energia Elétrica S.A really worth?

TA Transmissora Aliança de Energia Elétrica S.A TAEE11 · SA
PriceR$41.55
Fair ValueR$11.94
Upside−71.3%
Quality63/100

A solid business, but trading 248% above our fair value of R$11.94.

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Strengths

Highly profitable · 33.5% net margin
Moderate debt · generates free cash flow
Wide moat 74/100

Risks

!Mixed Growth (revenue 5y +5.4 %/yr)
!Mixed vs. peers (6/15)
!Weak on future: 28 out of 100

For context

·8.22% dividend yield
Evidence: High Range R$8.95 – R$19.03

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 22 days ago

Fair value updated Aug 13, 2026, revised from R$13.25 to R$11.94 (−9.9%) since Jul 19, 2026. Share price +4.2% 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$19.03). The favourable scenario is already priced in.
  • Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (R$8.95 to R$19.03) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

R$44.28 R$22.28 Fair Value R$11.94 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range R$22.28 – R$44.28 · fair‑value band R$8.95 – R$19.03 · the R$41.55 price screens above the R$11.94 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Transmissora Aliança de Energia Elétrica S.A (TAEE11) currently trades at R$41.55, while our model-based Fair Value estimate is R$11.94, implying the stock looks roughly 247.9% overvalued today. The Quality Score stands at 63/100 (solid quality), in the Utilities sector. Bull case: the Growth Earnings group reads highest at a median of R$29.79 per share, and 1 of the 26 models we run sit above the R$41.55 price. Bear case: the Asset-Based group reads lowest at R$5.01, and 25 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Transmissora Aliança de Energia Elétrica S.A generated revenue of R$4.7B at a net margin of 33.5%. Revenue grew 5.5% year over year. It earns a return on equity of 20.6%. Net debt stands at R$10.2B. Fundamentals as of Aug 13, 2026

Our scenario range runs from R$8.95 (bear case) to R$19.03 (bull case); at R$41.55, 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 7% below its 52-week high and 36% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at −37% fair-value upside, at −71%, TAEE11 screens richer than that median.

Fair Value models

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.

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
Highest evidence
FCF DCF R$11.04 R$29.14 R$62.15 74
EPV R$10.46 R$13.67 R$16.47 74
Growth DCF R$10.71 R$26.80 R$55.03 73
All 26 models by family
DCF Models
FCF DCF R$11.04 R$29.14 R$62.15 74
Owner Earnings R$12.53 R$31.98 R$67.47 70
5Y Revenue Exit R$2.90 R$10.45 R$20.57 67
5Y EBITDA Exit R$8.54 R$22.49 R$40.34 71
5Y P/E Exit R$10.93 R$27.59 R$47.19 67
10Y Revenue Exit R$5.14 R$13.41 R$26.01 62
10Y EBITDA Exit R$9.22 R$22.41 R$43.14 64
10Y P/E Exit R$10.82 R$26.22 R$49.07 60
Earnings-Based
Graham-Dodd R$10.56 R$55.01 R$76.10 63
Lynch FV R$15.07 R$21.53 R$27.99 61
PEG = 1.0 R$15.07 R$21.53 R$27.99 57
EPV R$10.46 R$13.67 R$16.47 74
Dividend Discount
Gordon GGM R$9.21 R$19.15 R$30.39 66
DDM Multi-Stage R$9.21 R$16.15 R$20.10 66
Multiples
P/E Multiple R$20.97 R$27.96 R$34.95 63
P/S Multiple R$8.52 R$11.37 R$14.21 58
P/B Multiple R$10.10 R$13.47 R$16.83 55
EV/EBIT R$16.47 R$24.87 R$33.27 65
EV/EBITDA R$8.53 R$14.29 R$20.05 65
EV/Revenue R$2.62 R$6.03 50
Asset-Based
NCAV (Graham) R$3.74 R$5.01 R$7.48 54
Growth DCF
Growth DCF R$10.71 R$26.80 R$55.03 73
Rev-Margin DCF R$2.90 R$10.38 R$20.43 67
Economic Profit
Residual Income R$9.78 R$12.08 R$34.40 67
ROIC Compounder R$12.09 R$20.39 R$29.41 70
Growth Earnings
Growth-Adj P/E R$20.85 R$29.79 R$38.72 67

Widest divergence: Growth Earnings (R$29.79) versus Asset-Based (R$5.01). Highest evidence: FCF DCF (74).

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Key figures & financial health

P/E ratio 39.4 as of Jun 8, 2026
P/S ratio 13.5 P/E × margin
EPS (TTM) R$0.9800 price ÷ EPS = P/E 39.4
Dividend yield 8.2%
Net margin 34.2% FY2025
Return on equity 20.6% TTM
More key figures
Profitability
Return on assets (EBIT) 11.7% avg 5y
Operating margin 58.4% TTM
Growth
Revenue (TTM) R$4.7B TTM
Revenue growth (YoY) +5.5% 3y avg +20.9%
EPS growth (YoY) −3.2%
Balance sheet & cash flow
Free cash flow R$1.5B FY2025
Net debt R$10.2B FY2025 · ≈ 6.9 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 60 · Market factors (momentum, volatility) 69

Profitability 50
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 83
Earnings quality: real cash, not paper profit
Fin. Strength 36
Balance sheet, leverage, solvency risk
Investment 76
Disciplined investing over empire-building
Low Volatility 92
Calm price path (market factor)
Momentum 53
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

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

Transmissora Aliança de Energia Elétrica S.A., together with its subsidiaries, engages in the construction, operation, and maintenance of electric power transmission lines in Brazil.

Full company description

Transmissora Aliança de Energia Elétrica S.A., together with its subsidiaries, engages in the construction, operation, and maintenance of electric power transmission lines in Brazil. It operates approximately a total length of 15,319 kilometers (km) of transmission lines, which include 14,677 km of transmission lines in operation and 642 km of lines under construction; 113 substations with voltage between 230 and 525KV; and one system operation center located in Rio de Janeiro. The company was founded in 2000 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

Transmissora Aliança de Energia Elétrica S.A reported revenue of R$4.6B in FY2025 versus R$3.5B in FY2021, a compound +7.4%/yr. Reported net income was R$1.6B in FY2025, compounding −8.1%/yr from FY2021.

Growth Quality 80/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
R$4.6B
Latest YoY
+24.4%
Avg. revenue growth/yr (3Y) 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.
+20.9%
Avg. revenue growth/yr (5Y) 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.
+5.4%
Avg. revenue growth/yr (19Y) 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.
+14.1%
Value creation/yr (5Y, in BRL) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. 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.
+1.7% (−6.5 + 8.2)
Revenue +7.4%/yr
FY21 R$3.5B
FY22 R$2.6B
FY23 R$3.4B
FY24 R$3.7B
FY25 R$4.6B
Net income −8.1%/yr
FY21 R$2.2B
FY22 R$1.4B
FY23 R$1.4B
FY24 R$1.7B
FY25 R$1.6B
Character of growth · EPS growth decomposed (2014-2025) +6.3 % p.a.
Revenue per share +11.4 %

of which total revenue +11.4 % · buybacks/dilution +0.0 %

EBIT margin −4.6 %
Tax rate +1.0 %
Residual (interest, one-offs) −0.9 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

TAEE11 screens 248% overvalued. Compare with NextEra Energy, Inc →

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Cite: Fair Value Calculator (2026). "Transmissora Aliança de Energia Elétrica S.A Fair Value". https://www.fairvalue-calculator.com/stock/TAEE11

Peer Group

Utilities - Regulated Electric · 153 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.

Quality Score 63 · Top 25%
Fair Value upside −71% · Bottom 25%
Return on equity (TTM) 21% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 34% · Top 25%
Operating margin (TTM) 58% · Top 25%
Revenue growth 6% · Below median
Dividend yield (TTM) 8.2% · Top 25%
Debt / equity 1.27× · Higher than median

Valuation Multiples vs Utilities - Regulated Electric median · lower = cheaper

P/E (TTM) 39.4× · Pricier than 75% of peers
P/B 5.55× · Pricier than 75% of peers
P/S (TTM) 9.03× · Pricier than 75% of peers
P/FCF 5.6× · Pricier than median
EV/EBITDA 22.0× · Pricier than 75% of peers
PEG 6.02× · Pricier than 75% of peers

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE28 · sector 32
PAST82 · sector 39
HEALTH37 · sector 52
DIVIDEND100 · sector 65

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Utilities - Regulated Electric stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
NextEra Energy, Inc NEE $83.47 $32.94 −61%
The Southern Company SO $88.25 $58.81 −33%
Duke Energy Corporation DUK $120.25 $74.89 −38%
National Grid plc NGG $80.68 $63.94 −21%
American Electric Power Company AEP $122.96 $77.23 −37%
Dominion Energy, Inc D $66.01 $46.34 −30%
Entergy Corporation ETR $105.75 $52.92 −50%
Xcel Energy Inc XEL $76.34 $44.61 −42%
Exelon Corporation EXC $43.96 $37.60 −14%
Endesa, S.A ELE €42.30 €25.72 −39%

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Frequently asked questions

Is Transmissora Aliança de Energia Elétrica S.A (TAEE11) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of R$11.94 versus a price of R$41.55, about −71% upside (overvalued).
What is the fair value of TAEE11?
Our model-based fair value for Transmissora Aliança de Energia Elétrica S.A is R$11.94 (as of Aug 13, 2026), built from audited fundamentals. The current price: R$41.55.
What is the quality score of TAEE11?
Transmissora Aliança de Energia Elétrica S.A has a Quality Score of 63/100. 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 revenue of Transmissora Aliança de Energia Elétrica S.A (TAEE11)?
Transmissora Aliança de Energia Elétrica S.A reported trailing-twelve-month revenue of about R$4.7B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of TAEE11?
The net profit margin of Transmissora Aliança de Energia Elétrica S.A is about 33.5%, meaning it keeps roughly 33.5% of revenue as net income. Based on the latest reported figures.
Does Transmissora Aliança de Energia Elétrica S.A pay a dividend?
Transmissora Aliança de Energia Elétrica S.A currently shows a dividend yield of about 8.22% relative to its recent price (as of Aug 13, 2026).
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