NYSE : CIG.C
Companhia Energética de Minas Gerais - CEMIG — Financial statements
Utilities · Utilities - Diversified · Brazil
Last price 3.13 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 6.49B
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Financial statements
Companhia Energética de Minas Gerais - CEMIG (CIG.C) reported revenue of 43.74B BRL (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in BRL.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 43.74B | 42.75B | 39.82B | 36.85B | 34.46B | 33.65B |
| Selling, General & Admin | 887.21M | 826.87M | 819.91M | 707.41M | 789.39M | 576.61M |
| Provision for Bad Debts | 14.04M | 161.42M | 174.80M | 174.66M | 108.73M | 143.86M |
| Other Operating Expenses | 36.46B | 35.39B | 32.32B | 29.42B | 28.73B | 27.30B |
| Total Operating Expenses | 37.36B | 36.38B | 33.32B | 30.30B | 29.62B | 28.02B |
| Operating Income | 6.38B | 6.38B | 6.50B | 6.55B | 4.84B | 5.62B |
| Interest Expense | -1.82B | -1.53B | -1.01B | -1.03B | -3.07B | -3.10B |
| Interest Income | 446.34M | 514.50M | 435.61M | 452.22M | 1.50B | 843.31M |
| Net Interest Expense | -1.37B | -1.02B | -572.80M | -574.57M | -1.57B | -2.25B |
| Income (Loss) on Equity Investments | 225.10M | 200.93M | 223.71M | 432.49M | 842.54M | 182.08M |
| Currency Exchange Gain (Loss) | 7.76M | 4.09M | -501.36M | 283.41M | ||
| Other Non-Operating Income (Expenses) | -365.53M | -157.61M | 2.01B | -149.65M | 1.03B | |
| EBT Excluding Unusual Items | 4.87B | 5.41B | 7.66B | 6.54B | 4.12B | 4.59B |
| Gain (Loss) on Sale of Investments | 121.27M | 121.27M | 1.62B | 8.64M | ||
| Gain (Loss) on Sale of Assets | 66.49M | 40.30M | 42.99M | 318.80M | ||
| Asset Writedown | -45.97M | |||||
| Legal Settlements | 88.32M | 91.45M | 68.78M | -18.82M | ||
| Other Unusual Items | 12.45M | 12.45M | 14.14M | 5.34M | 112.56M | |
| Pretax Income | 5.16B | 5.67B | 9.36B | 6.85B | 4.12B | 4.70B |
| Income Tax Expense | 564.62M | 771.61M | 2.24B | 1.08B | 26.19M | 945.31M |
| Earnings From Continuing Ops. | 4.60B | 4.90B | 7.12B | 5.77B | 4.09B | 3.75B |
| Net Income to Company | 4.60B | 4.90B | 7.12B | 5.77B | 4.09B | 3.75B |
| Minority Interest in Earnings | -1.91M | -2.21M | -2.14M | -2.56M | -2.05M | -1.55M |
| Net Income | 4.60B | 4.90B | 7.12B | 5.76B | 4.09B | 3.75B |
| Net Income to Common | 4.60B | 4.90B | 7.12B | 5.76B | 4.09B | 3.75B |
| Shares Outstanding (Basic) | 2.86B | 2.86B | 2.86B | 2.86B | 2.86B | 2.86B |
| Shares Outstanding (Diluted) | 2.86B | 2.86B | 2.86B | 2.86B | 2.86B | 2.86B |
| EPS (Basic) | 1.61 | 1.71 | 2.49 | 2.01 | 1.43 | 1.31 |
| EPS (Diluted) | 1.61 | 1.71 | 2.49 | 2.01 | 1.43 | 1.31 |
| Free Cash Flow | 2.93B | 3.38B | 4.83B | 5.57B | 6.37B | 3.50B |
| Free Cash Flow Per Share | 1.02 | 1.18 | 1.69 | 1.95 | 2.23 | 1.22 |
| Dividend Per Share | 1.23 | 1.23 | 1.31 | 1.09 | 0.78 | 0.69 |
| Profit Margin | 10.51% | 11.46% | 17.87% | 15.64% | 11.88% | 11.15% |
| Free Cash Flow Margin | 6.70% | 7.90% | 12.12% | 15.11% | 18.49% | 10.41% |
| EBITDA | 7.89B | 7.84B | 7.82B | 7.78B | 6.02B | 6.67B |
| EBITDA Margin | 18.04% | 18.34% | 19.64% | 21.10% | 17.47% | 19.84% |
| D&A For EBITDA | 1.51B | 1.47B | 1.32B | 1.23B | 1.18B | 1.05B |
| EBIT | 6.38B | 6.38B | 6.50B | 6.55B | 4.84B | 5.62B |
| EBIT Margin | 14.59% | 14.91% | 16.33% | 17.78% | 14.04% | 16.72% |
| Effective Tax Rate | 10.94% | 13.61% | 23.92% | 15.83% | 0.64% | 20.12% |
Balance sheet
Fiscal year January - December; amounts in BRL.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 2.16B | 1.90B | 1.90B | 1.54B | 1.44B | 825.21M |
| Short-Term Investments | 759.70M | 357.91M | ||||
| Trading Asset Securities | 919.71M | 1.14B | 1.74B | 1.72B | ||
| Accounts Receivable | 7.30B | 6.91B | 6.74B | 6.28B | 5.50B | 5.03B |
| Other Receivables | 1.69B | 1.67B | 838.30M | 1.74B | 3.52B | 3.63B |
| Other Current Assets | 3.65B | 3.23B | 2.40B | 1.16B | 1.26B | 1.74B |
| Total Current Assets | 15.72B | 14.48B | 12.23B | 11.87B | 13.47B | 12.95B |
| Property, Plant & Equipment | 4.66B | 4.56B | 4.10B | 3.65B | 2.74B | 2.64B |
| Other Intangible Assets | 29.16B | 26.94B | 23.69B | 20.98B | 19.56B | 17.92B |
| Long-Term Investments | 3.05B | 3.06B | 3.36B | 4.63B | 5.94B | 6.68B |
| Long-Term Deferred Tax Assets | 1.85B | 1.85B | 2.33B | 3.04B | 3.12B | 2.46B |
| Long-Term Accounts Receivable | 12.95B | 12.39B | 10.58B | 7.72B | 6.02B | 5.83B |
| Other Long-Term Assets | 3.48B | 3.74B | 3.43B | 3.11B | 2.83B | 3.55B |
| Total Assets | 70.86B | 67.03B | 59.73B | 55.00B | 53.67B | 52.05B |
| Accounts Payable | 4.82B | 4.62B | 3.96B | 3.72B | 3.29B | 2.92B |
| Accrued Expenses | 2.49B | 2.47B | 2.34B | 3.14B | 3.62B | 2.91B |
| Current Portion of Long-Term Debt | 1.52B | 3.05B | 2.88B | 2.63B | 955.50M | 1.47B |
| Current Portion of Leases | 95.46M | 89.11M | 79.23M | 78.53M | 57.44M | 61.59M |
| Current Income Taxes Payable | 64.67M | 133.30M | 162.97M | 111.23M | 239.67M | 190.00M |
| Other Current Liabilities | 4.47B | 4.10B | 4.72B | 3.41B | 3.05B | 3.14B |
| Total Current Liabilities | 13.46B | 14.46B | 14.15B | 13.09B | 11.21B | 10.69B |
| Long-Term Debt | 20.83B | 16.41B | 9.40B | 7.20B | 9.62B | 9.90B |
| Long-Term Leases | 301.78M | 328.12M | 349.97M | 354.40M | 297.19M | 182.44M |
| Pension & Post-Retirement Benefits | 1.66B | 1.67B | 4.07B | 5.09B | 5.30B | 5.86B |
| Long-Term Deferred Tax Liabilities | 1.52B | 1.57B | 1.54B | 1.11B | 932.24M | 962.25M |
| Other Long-Term Liabilities | 3.89B | 4.00B | 2.83B | 3.50B | 4.53B | 4.99B |
| Total Liabilities | 41.68B | 38.45B | 32.34B | 30.34B | 31.89B | 32.58B |
| Common Stock | 14.31B | 14.31B | 14.31B | 11.01B | 11.01B | 8.47B |
| Additional Paid-In Capital | 394.45M | 394.45M | 394.45M | 2.25B | 2.25B | 2.25B |
| Retained Earnings | 14.86B | 14.22B | 13.58B | 13.04B | 10.39B | 10.95B |
| Treasury Stock | -1.36M | -1.36M | -1.36M | -1.36M | -1.36M | -1.36M |
| Comprehensive Income & Other | -376.05M | -343.21M | -899.86M | -1.65B | -1.87B | -2.21B |
| Total Common Equity | 29.18B | 28.58B | 27.38B | 24.65B | 21.78B | 19.46B |
| Minority Interest | 4.51M | 5.32M | 5.29M | 5.96M | 5.91M | 5.35M |
| Shareholders' Equity | 29.19B | 28.58B | 27.38B | 24.66B | 21.78B | 19.46B |
| Total Liabilities & Equity | 70.86B | 67.03B | 59.73B | 55.00B | 53.67B | 52.05B |
| Total Debt | 22.75B | 19.88B | 12.71B | 10.26B | 10.93B | 11.61B |
| Net Cash (Debt) | -19.67B | -17.22B | -10.45B | -7.58B | -7.75B | -9.06B |
| Net Cash Per Share | -6.88 | -6.02 | -3.65 | -2.65 | -2.71 | -3.17 |
| Filing Date Shares Outstanding | 2.86B | 2.86B | 2.86B | 2.86B | 2.86B | 2.86B |
| Total Common Shares Outstanding | 2.86B | 2.86B | 2.86B | 2.86B | 2.86B | 2.86B |
| Working Capital | 2.26B | 17.28M | -1.91B | -1.22B | 2.26B | 2.26B |
| Book Value Per Share | 10.20 | 9.99 | 9.57 | 8.62 | 7.61 | 6.80 |
| Tangible Book Value | 23.38M | 1.63B | 3.69B | 3.67B | 2.22B | 1.53B |
| Tangible Book Value Per Share | 0.01 | 0.57 | 1.29 | 1.28 | 0.78 | 0.54 |
| Land | 245.99M | 248.97M | 249.22M | 247.44M | ||
| Buildings | 1.18B | 1.14B | 1.10B | 1.09B | ||
| Machinery | 4.33B | 4.05B | 2.98B | 2.86B | ||
| Construction In Progress | 1.05B | 1.15B | 1.66B | 1.21B |
Cash flow statement
Fiscal year January - December; amounts in BRL.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 4.60B | 4.90B | 7.12B | 5.76B | 4.09B | 3.75B |
| Depreciation & Amortization | 1.61B | 1.53B | 1.38B | 1.27B | 1.18B | 1.05B |
| Other Amortization | 34.66M | 28.11M | 18.75M | 13.91M | 7.42M | 20.46M |
| Loss (Gain) on Sale of Assets | -55.08M | -28.89M | -42.99M | |||
| Loss (Gain) on Sale of Investments | -1.44B | -1.28B | -2.82B | -1.57B | -1.30B | -1.42B |
| Loss (Gain) on Equity Investments | -225.10M | -200.93M | -223.71M | -432.49M | -842.54M | -182.08M |
| Asset Writedown | 208.43M | 210.43M | 83.44M | 97.46M | 73.63M | 46.96M |
| Change in Accounts Receivable | -435.61M | -418.13M | -553.04M | -838.95M | -440.19M | -90.38M |
| Change in Accounts Payable | 63.59M | 87.43M | -65.12M | 184.65M | 148.71M | 324.86M |
| Change in Income Taxes | -581.27M | -608.05M | 564.19M | 784.62M | 606.42M | 2.32B |
| Change in Other Net Operating Assets | 630.03M | 775.34M | 508.05M | 1.52B | 3.46B | 659.84M |
| Other Operating Activities | -1.02B | -1.08B | -638.10M | -336.08M | -556.75M | -2.80B |
| Operating Cash Flow | 3.40B | 4.08B | 5.50B | 6.64B | 6.54B | 3.68B |
| Capital Expenditures | -474.03M | -699.18M | -671.29M | -1.08B | -173.41M | -182.52M |
| Sale of Property, Plant & Equipment | 92.68M | 92.68M | 100.89M | |||
| Cash Acquisitions | -189.64M | 155.00K | ||||
| Sale (Purchase) of Intangibles | -6.21B | -5.76B | -4.69B | -3.87B | -3.23B | -1.85B |
| Investment in Securities | 331.13M | -247.97M | 3.09B | 1.76B | 267.53M | 3.36B |
| Other Investing Activities | -98.39M | -43.59M | -204.59M | -780.35M | 44.48M | |
| Investing Cash Flow | -6.55B | -6.66B | -2.38B | -3.97B | -3.14B | 1.37B |
| Long-Term Debt Issued | 9.34B | 4.58B | 1.99B | 1.98B | 13.41M | |
| Long-Term Debt Repaid | -2.78B | -3.05B | -2.75B | -2.68B | -4.51B | |
| Lease Payments | -75.34M | -81.51M | -72.34M | -66.63M | -65.68M | -70.14M |
| Net Debt Issued (Repaid) | 7.15B | 6.56B | 1.53B | -757.19M | -697.63M | -4.49B |
| Common Dividends Paid | -3.61B | -3.97B | -4.29B | -1.82B | -2.09B | -1.42B |
| Financing Cash Flow | 3.55B | 2.59B | -2.76B | -2.58B | -2.79B | -5.91B |
| Net Cash Flow | 404.61M | 3.41M | 360.74M | 96.82M | 615.45M | -855.19M |
| Free Cash Flow | 2.93B | 3.38B | 4.83B | 5.57B | 6.37B | 3.50B |
| Free Cash Flow Margin | 6.70% | 7.90% | 12.12% | 15.11% | 18.49% | 10.41% |
| Free Cash Flow Per Share | 1.02 | 1.18 | 1.69 | 1.95 | 2.23 | 1.22 |
| Levered Free Cash Flow | -3.18B | -3.59B | -511.42M | 1.08B | 43.83M | 1.69B |
| Unlevered Free Cash Flow | -2.08B | -2.66B | 100.09M | 1.71B | 1.95B | 3.60B |
| Free Cash Flow After Leases | 2.86B | 3.30B | 4.75B | 5.50B | 6.31B | 3.43B |
| Cash Interest Paid | 404.82M | 7.25M | 6.31M | 1.03B | 1.01B | 1.59B |
| Cash Income Tax Paid | 465.19M | 735.91M | 1.14B | 600.84M | 704.17M | 500.41M |
| Change in Working Capital | -323.27M | -163.41M | 454.08M | 1.65B | 3.78B | 3.22B |
Ratios
Fiscal year January - December; amounts in BRL.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 6.37B | 6.42B | 5.68B | 5.76B | 5.33B | 4.53B |
| Enterprise Value | 9.99B | 8.88B | 6.89B | 7.48B | 6.63B | 6.02B |
| PE Ratio | 6.07 | 7.23 | 4.94 | 4.85 | 6.89 | 6.73 |
| PS Ratio | 0.76 | 0.83 | 0.88 | 0.76 | 0.82 | 0.75 |
| PB Ratio | 1.14 | 1.24 | 1.28 | 1.13 | 1.29 | 1.30 |
| P/FCF Ratio | 11.93 | 10.48 | 7.28 | 5.02 | 4.43 | 7.21 |
| P/OCF Ratio | 10.27 | 8.68 | 6.39 | 4.21 | 4.31 | 6.86 |
| EV/Sales Ratio | 1.19 | 1.14 | 1.07 | 0.98 | 1.02 | 1.00 |
| EV/EBITDA Ratio | 6.60 | 6.24 | 5.45 | 4.67 | 5.82 | 5.03 |
| EV/EBIT Ratio | 8.16 | 7.67 | 6.55 | 5.54 | 7.24 | 5.96 |
| EV/FCF Ratio | 18.65 | 14.48 | 8.82 | 6.52 | 5.50 | 9.58 |
| Debt / Equity Ratio | 0.78 | 0.70 | 0.46 | 0.42 | 0.50 | 0.60 |
| Debt / EBITDA Ratio | 2.86 | 2.51 | 1.61 | 1.31 | 1.82 | 1.74 |
| Debt / FCF Ratio | 7.76 | 5.89 | 2.63 | 1.84 | 1.72 | 3.32 |
| Net Debt / Equity Ratio | 0.67 | 0.60 | 0.38 | 0.31 | 0.36 | 0.47 |
| Net Debt / EBITDA Ratio | 2.49 | 2.20 | 1.34 | 0.97 | 1.29 | 1.36 |
| Net Debt / FCF Ratio | 6.71 | 5.10 | 2.17 | 1.36 | 1.22 | 2.59 |
| Quick Ratio | 0.90 | 0.78 | 0.69 | 0.82 | 1.09 | 1.05 |
| Current Ratio | 1.17 | 1.00 | 0.86 | 0.91 | 1.20 | 1.21 |
| Asset Turnover | 0.65 | 0.68 | 0.69 | 0.68 | 0.65 | 0.63 |
| Return on Equity (ROE) | 15.94% | 17.51% | 27.36% | 24.84% | 19.85% | 20.32% |
| Return on Assets (ROA) | 5.94% | 6.29% | 7.08% | 7.54% | 5.72% | 6.62% |
| Return on Capital Employed (ROCE) | 11.10% | 12.10% | 14.30% | 15.60% | 11.40% | 13.60% |
| Earnings Yield | 16.47% | 13.84% | 20.25% | 20.62% | 14.51% | 14.85% |
| FCF Yield | 8.38% | 9.54% | 13.73% | 19.92% | 22.59% | 13.86% |
| Dividend Yield | 6.17% | 9.93% | 10.66% | 11.18% | 7.88% | 7.78% |
| Payout Ratio | 38.33% | 81.03% | 60.34% | 31.63% | 51.17% | 37.76% |
| Buyback Yield / Dilution | 0.00% | 0.00% | 0.00% | |||
| Total Shareholder Return | 5.98% | 9.93% | 10.66% | 11.18% | 7.88% | 7.78% |