NYSE : ELPC
Companhia Paranaense de Energia - COPEL — Financial statements
Utilities · Utilities - Regulated Electric · Brazil
Last price 10.55 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 7.83B
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Financial statements
Companhia Paranaense de Energia - COPEL (ELPC) reported revenue of 27.99B 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 | 27.99B | 26.12B | 22.65B | 21.48B | 20.54B | 23.98B |
| Selling, General & Admin | 1.01B | 1.01B | 962.47M | 1.23B | 909.36M | 1.12B |
| Other Operating Expenses | 21.55B | 20.30B | 17.91B | 16.86B | 17.16B | 17.79B |
| Total Operating Expenses | 22.65B | 21.31B | 18.87B | 18.09B | 18.07B | 18.90B |
| Operating Income | 5.33B | 4.81B | 3.78B | 3.39B | 2.47B | 5.08B |
| Interest Expense | -81.21M | -83.09M | -76.40M | -89.87M | -91.36M | -16.60M |
| Interest Income | 1.14B | 1.16B | 1.08B | 630.61M | 470.08M | 419.67M |
| Net Interest Expense | 1.06B | 1.08B | 1.00B | 540.74M | 378.72M | 403.06M |
| Income (Loss) on Equity Investments | 200.99M | 240.00M | 281.20M | 307.81M | 478.58M | 366.31M |
| Currency Exchange Gain (Loss) | 6.47M | 16.36M | -19.53M | |||
| Other Non-Operating Income (Expenses) | -2.81B | -2.86B | -2.10B | -1.73B | -2.44B | -710.90M |
| EBT Excluding Unusual Items | 3.78B | 3.26B | 2.97B | 2.51B | 900.04M | 5.12B |
| Legal Settlements | -58.77M | -14.77M | -64.11M | -22.62M | 42.85M | |
| Pretax Income | 3.73B | 3.25B | 2.91B | 2.49B | 942.89M | 5.12B |
| Income Tax Expense | 553.55M | 577.62M | 599.43M | 354.06M | -281.10M | 1.26B |
| Earnings From Continuing Ops. | 3.17B | 2.67B | 2.31B | 2.14B | 1.22B | 3.86B |
| Earnings From Discontinued Ops. | 18.90M | 18.90M | 491.57M | 191.50M | -112.19M | 1.19B |
| Net Income to Company | 3.19B | 2.69B | 2.80B | 2.33B | 1.11B | 5.05B |
| Minority Interest in Earnings | 675.00K | 675.00K | 10.26M | -68.36M | 207.00K | -96.03M |
| Net Income | 3.19B | 2.69B | 2.81B | 2.26B | 1.11B | 4.95B |
| Net Income to Common | 3.19B | 2.69B | 2.81B | 2.26B | 1.11B | 4.95B |
| Shares Outstanding (Basic) | 3.02B | 2.97B | 2.98B | 2.83B | 2.74B | 2.74B |
| Shares Outstanding (Diluted) | 3.03B | 2.97B | 2.98B | 2.83B | 2.74B | 2.74B |
| EPS (Basic) | 1.06 | 0.91 | 0.94 | 0.80 | 0.41 | 1.81 |
| EPS (Diluted) | 1.05 | 0.90 | 0.94 | 0.80 | 0.41 | 1.81 |
| Free Cash Flow | 1.59B | 2.87B | 3.26B | 3.31B | 3.39B | 3.05B |
| Free Cash Flow Per Share | 0.53 | 0.96 | 1.09 | 1.17 | 1.24 | 1.11 |
| Dividend Per Share | 1.06 | 1.06 | 0.74 | 0.35 | 0.33 | 1.06 |
| Profit Margin | 11.41% | 10.29% | 12.40% | 10.52% | 5.42% | 20.65% |
| Free Cash Flow Margin | 5.68% | 10.97% | 14.37% | 15.43% | 16.53% | 12.71% |
| EBITDA | 6.83B | 6.21B | 5.17B | 4.69B | 3.64B | 6.11B |
| EBITDA Margin | 24.41% | 23.78% | 22.83% | 21.84% | 17.72% | 25.49% |
| D&A For EBITDA | 1.50B | 1.41B | 1.39B | 1.30B | 1.17B | 1.03B |
| EBIT | 5.33B | 4.81B | 3.78B | 3.39B | 2.47B | 5.08B |
| EBIT Margin | 19.06% | 18.40% | 16.70% | 15.77% | 12.03% | 21.18% |
| Effective Tax Rate | 14.86% | 17.79% | 20.62% | 14.22% | 24.61% |
Balance sheet
Fiscal year January - December; amounts in BRL.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 3.27B | 3.13B | 4.16B | 5.63B | 2.68B | 3.47B |
| Short-Term Investments | 161.00K | 895.00K | 623.00K | 93.00K | ||
| Trading Asset Securities | 4.76M | 16.12M | ||||
| Accounts Receivable | 14.67M | 4.69B | 4.25B | 4.05B | 3.56B | 4.58B |
| Other Receivables | 5.56B | 2.40B | 2.55B | 1.94B | 2.64B | 2.48B |
| Inventory | 1.06B | 173.40M | 136.32M | 174.73M | 194.85M | 197.78M |
| Prepaid Expenses | 425.63M | 60.97M | 63.21M | 62.87M | 60.08M | 53.65M |
| Other Current Assets | 604.27M | 425.65M | 1.88B | 394.74M | 190.86M | 383.92M |
| Total Current Assets | 10.94B | 10.88B | 13.04B | 13.72B | 9.33B | 11.19B |
| Property, Plant & Equipment | 8.60B | 8.41B | 8.83B | 11.08B | 10.33B | 10.35B |
| Regulatory Assets | 643.00M | 400.46M | 15.47M | 190.70M | 383.74M | |
| Other Intangible Assets | 19.05B | 19.21B | 16.62B | 11.17B | 10.28B | 9.22B |
| Long-Term Investments | 3.58B | 3.57B | 4.14B | 4.03B | 3.78B | 3.55B |
| Long-Term Deferred Tax Assets | 851.40M | 991.40M | 1.17B | 1.76B | 1.64B | 963.26M |
| Long-Term Accounts Receivable | 9.90B | 9.36B | 7.04B | 7.43B | 7.56B | 6.82B |
| Other Long-Term Assets | 8.07B | 7.59B | 6.54B | 6.62B | 6.59B | 7.07B |
| Total Assets | 61.65B | 60.41B | 57.38B | 55.82B | 49.70B | 49.54B |
| Accounts Payable | 3.08B | 3.06B | 2.32B | 2.15B | 2.09B | 2.59B |
| Accrued Expenses | 828.79M | 1.04B | 987.98M | 1.65B | 1.03B | 1.56B |
| Current Portion of Long-Term Debt | 2.20B | 2.07B | 3.26B | 1.90B | 1.63B | 2.72B |
| Current Portion of Leases | 60.04M | 58.74M | 57.50M | 49.74M | 64.87M | 47.24M |
| Current Income Taxes Payable | 151.56M | 81.88M | 83.48M | 132.98M | 156.19M | 63.95M |
| Other Current Liabilities | 2.08B | 4.76B | 3.63B | 3.42B | 2.19B | 995.78M |
| Total Current Liabilities | 8.41B | 11.06B | 10.34B | 9.31B | 7.16B | 7.98B |
| Long-Term Debt | 21.08B | 17.95B | 13.99B | 13.06B | 10.83B | 9.10B |
| Long-Term Leases | 224.93M | 234.22M | 271.00M | 220.70M | 208.89M | 165.49M |
| Pension & Post-Retirement Benefits | 1.37B | 1.36B | 1.06B | 1.44B | 996.22M | 1.23B |
| Long-Term Deferred Tax Liabilities | 2.08B | 1.98B | 1.90B | 1.69B | 1.52B | 1.36B |
| Other Long-Term Liabilities | 4.33B | 4.74B | 4.19B | 5.91B | 7.86B | 7.52B |
| Total Liabilities | 37.50B | 37.32B | 31.75B | 31.63B | 28.57B | 27.36B |
| Common Stock | 12.82B | 12.82B | 12.82B | 12.82B | 10.80B | 10.80B |
| Retained Earnings | 11.11B | 10.12B | 12.38B | 10.76B | 9.42B | 10.61B |
| Treasury Stock | -113.07M | -113.39M | -50.04M | |||
| Comprehensive Income & Other | 311.92M | 306.63M | 523.00M | 307.05M | 593.38M | 426.17M |
| Total Common Equity | 24.13B | 23.13B | 25.67B | 23.89B | 20.82B | 21.84B |
| Minority Interest | 20.24M | -38.04M | -37.78M | 305.51M | 313.86M | 338.21M |
| Shareholders' Equity | 24.15B | 23.09B | 25.64B | 24.19B | 21.13B | 22.18B |
| Total Liabilities & Equity | 61.65B | 60.41B | 57.38B | 55.82B | 49.70B | 49.54B |
| Total Debt | 23.57B | 20.31B | 17.57B | 15.23B | 12.73B | 12.04B |
| Net Cash (Debt) | -20.30B | -17.18B | -13.41B | -9.59B | -10.05B | -8.55B |
| Net Cash Per Share | -6.70 | -5.77 | -4.49 | -3.39 | -3.67 | -3.12 |
| Filing Date Shares Outstanding | 3.17B | 2.97B | 2.98B | 2.98B | 2.74B | 2.74B |
| Total Common Shares Outstanding | 3.17B | 2.97B | 2.98B | 2.98B | 2.74B | 2.74B |
| Working Capital | 2.54B | -180.66M | 2.70B | 4.41B | 2.17B | 3.21B |
| Book Value Per Share | 7.60 | 7.79 | 8.62 | 8.01 | 7.61 | 7.98 |
| Tangible Book Value | 5.07B | 3.92B | 9.05B | 12.72B | 10.54B | 12.62B |
| Tangible Book Value Per Share | 1.60 | 1.32 | 3.04 | 4.26 | 3.85 | 4.61 |
| Land | 401.00M | 388.27M | 499.02M | 510.68M | 508.16M | |
| Buildings | 1.36B | 1.40B | 2.01B | 2.00B | 1.99B | |
| Machinery | 8.88B | 8.77B | 9.82B | 9.00B | 8.46B | |
| Construction In Progress | 220.43M | 209.76M | 400.72M | 388.70M | 565.46M |
Cash flow statement
Fiscal year January - December; amounts in BRL.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 3.17B | 2.67B | 2.31B | 2.26B | 1.22B | 4.95B |
| Depreciation & Amortization | 1.57B | 1.48B | 1.47B | 1.38B | 1.23B | 1.08B |
| Loss (Gain) on Sale of Assets | -314.18M | -335.60M | -264.43M | 62.90M | -722.00K | |
| Loss (Gain) on Sale of Investments | -3.46B | -2.59B | -923.72M | -1.07B | -1.85B | -2.50B |
| Loss (Gain) on Equity Investments | -200.99M | -240.00M | -281.20M | -307.81M | -478.58M | -303.14M |
| Asset Writedown | -255.11M | 27.50M | 45.38M | -149.95M | -113.75M | -204.14M |
| Stock-Based Compensation | 42.50M | 24.97M | 5.59M | |||
| Change in Accounts Receivable | 772.28M | 583.13M | 602.20M | 188.44M | 1.48B | -210.97M |
| Change in Inventory | 14.47M | -37.07M | 38.40M | 18.74M | 7.33M | -30.70M |
| Change in Accounts Payable | 132.71M | 441.15M | 72.73M | 19.51M | -347.16M | -53.30M |
| Change in Income Taxes | -297.64M | -169.34M | -295.65M | -201.00M | -488.50M | -267.18M |
| Change in Other Net Operating Assets | 288.49M | 531.24M | -118.18M | 559.71M | 1.23B | 3.24B |
| Other Operating Activities | 381.49M | 530.46M | 631.52M | 568.28M | 1.64B | -1.29B |
| Net Cash from Discontinued Operations | 3.62M | 125.47M | 51.78M | -1.15B | ||
| Operating Cash Flow | 1.96B | 3.03B | 3.39B | 3.52B | 3.78B | 3.39B |
| Capital Expenditures | -368.16M | -162.10M | -137.63M | -204.81M | -381.94M | -338.14M |
| Sale of Property, Plant & Equipment | 11.44M | |||||
| Cash Acquisitions | -624.93M | -190.43M | -911.45M | -18.03M | -501.89M | |
| Sale (Purchase) of Intangibles | -1.43B | -2.95B | -6.27B | -1.99B | -1.92B | -1.49B |
| Investment in Securities | 1.82B | 1.54B | 51.26M | 3.29M | 100.90M | -85.09M |
| Other Investing Activities | 608.71M | -35.52M | -558.00M | 2.44B | ||
| Investing Cash Flow | -610.13M | -1.76B | -5.74B | -3.14B | -2.77B | 31.91M |
| Long-Term Debt Issued | 5.00B | 3.93B | 2.95B | 3.39B | 3.13B | |
| Long-Term Debt Repaid | -4.64B | -1.41B | -1.52B | -3.11B | -2.11B | |
| Lease Payments | -72.95M | -69.58M | -70.95M | -69.29M | -57.21M | -51.27M |
| Net Debt Issued (Repaid) | 2.84B | 358.51M | 2.51B | 1.42B | 282.94M | 1.03B |
| Issuance of Common Stock | 2.03B | |||||
| Repurchase of Common Stock | -6.00K | -70.05M | -50.04M | |||
| Common Dividends Paid | -2.34B | -1.25B | -1.59B | -750.37M | -2.17B | -3.87B |
| Other Financing Activities | -1.42B | -1.34B | -71.97M | -5.83M | -37.21M | -38.53M |
| Financing Cash Flow | -921.43M | -2.30B | 803.86M | 2.70B | -1.92B | -2.88B |
| Miscellaneous Cash Flow Adjustments | 9.56M | -13.00K | -69.34M | |||
| Net Cash Flow | 437.00M | -1.03B | -1.61B | 3.08B | -920.44M | 534.31M |
| Free Cash Flow | 1.59B | 2.87B | 3.26B | 3.31B | 3.39B | 3.05B |
| Free Cash Flow Margin | 5.68% | 10.97% | 14.37% | 15.43% | 16.53% | 12.71% |
| Free Cash Flow Per Share | 0.53 | 0.96 | 1.09 | 1.17 | 1.24 | 1.11 |
| Levered Free Cash Flow | 3.83B | 4.38B | -3.76B | 1.72B | 1.73B | 1.10B |
| Unlevered Free Cash Flow | 3.89B | 4.44B | -3.71B | 1.77B | 1.79B | 1.11B |
| Free Cash Flow After Leases | 1.52B | 2.80B | 3.18B | 3.24B | 3.34B | 3.00B |
| Cash Interest Paid | 1.97B | 1.97B | 1.56B | |||
| Cash Income Tax Paid | 203.95M | 197.79M | 219.22M | 294.68M | 124.38M | 659.32M |
| Change in Working Capital | 910.32M | 1.35B | 299.50M | 585.39M | 1.89B | 2.68B |
Ratios
Fiscal year January - December; amounts in BRL.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 7.83B | 7.05B | 4.22B | 6.14B | 3.90B | 3.12B |
| Enterprise Value | 11.57B | 10.18B | 5.67B | 8.22B | 5.72B | 4.22B |
| PE Ratio | 13.45 | 14.45 | 9.29 | 13.20 | 18.52 | 3.51 |
| PS Ratio | 1.45 | 1.49 | 1.15 | 1.39 | 1.00 | 0.72 |
| PB Ratio | 1.68 | 1.68 | 1.02 | 1.23 | 0.97 | 0.78 |
| P/FCF Ratio | 26.77 | 13.55 | 8.02 | 9.00 | 6.07 | 5.70 |
| P/OCF Ratio | 21.74 | 12.83 | 7.69 | 8.47 | 5.45 | 5.13 |
| EV/Sales Ratio | 2.14 | 2.15 | 1.55 | 1.86 | 1.47 | 0.98 |
| EV/EBITDA Ratio | 8.78 | 9.03 | 6.78 | 8.51 | 8.31 | 3.85 |
| EV/EBIT Ratio | 11.24 | 11.67 | 9.27 | 11.78 | 12.24 | 4.63 |
| EV/FCF Ratio | 39.55 | 19.56 | 10.77 | 12.04 | 8.91 | 7.72 |
| Debt / Equity Ratio | 0.98 | 0.88 | 0.69 | 0.63 | 0.60 | 0.54 |
| Debt / EBITDA Ratio | 3.41 | 3.23 | 3.35 | 3.19 | 3.44 | 1.95 |
| Debt / FCF Ratio | 14.82 | 7.08 | 5.40 | 4.60 | 3.75 | 3.95 |
| Net Debt / Equity Ratio | 0.84 | 0.74 | 0.52 | 0.40 | 0.48 | 0.39 |
| Net Debt / EBITDA Ratio | 2.97 | 2.77 | 2.59 | 2.04 | 2.76 | 1.40 |
| Net Debt / FCF Ratio | 12.76 | 5.99 | 4.12 | 2.90 | 2.96 | 2.80 |
| Quick Ratio | 1.05 | 0.92 | 1.06 | 1.25 | 1.24 | 1.32 |
| Current Ratio | 1.30 | 0.98 | 1.26 | 1.47 | 1.30 | 1.40 |
| Asset Turnover | 0.46 | 0.44 | 0.40 | 0.41 | 0.41 | 0.50 |
| Return on Equity (ROE) | 12.76% | 10.96% | 9.26% | 9.42% | 5.65% | 18.19% |
| Return on Assets (ROA) | 5.45% | 5.10% | 4.18% | 4.01% | 3.11% | 6.59% |
| Return on Capital Employed (ROCE) | 10.00% | 9.70% | 8.00% | 7.30% | 5.80% | 12.20% |
| Earnings Yield | 7.43% | 6.92% | 10.76% | 7.58% | 5.40% | 28.50% |
| FCF Yield | 3.74% | 7.38% | 12.47% | 11.12% | 16.48% | 17.54% |
| Dividend Yield | 5.75% | 8.12% | 8.47% | 3.46% | 4.44% | 16.74% |
| Payout Ratio | 77.39% | 46.46% | 56.47% | 33.22% | 194.94% | 78.23% |
| Buyback Yield / Dilution | -2.06% | 0.33% | -5.43% | -3.45% | ||
| Total Shareholder Return | 3.69% | 8.45% | 3.04% | 0.01% | 4.44% | 16.74% |