NYSE : SBS
Companhia de Saneamento Básico do Estado de São Paulo - SABESP — Financial statements
Utilities · Utilities - Regulated Water · Brazil
Last price 4.53 USD (Oct 30, 2026, 12:32 PM EDT) · Market cap 15.90B
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Financial statements
Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS) reported revenue of 40.88B 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 | 40.88B | 38.09B | 36.15B | 25.57B | 22.06B | 19.49B |
| Selling, General & Admin | 1.86B | 1.67B | 3.15B | 2.49B | 2.23B | 1.87B |
| Provision for Bad Debts | -44.81M | 62.07M | 557.79M | 652.92M | 782.06M | 643.73M |
| Other Operating Expenses | 26.11B | 23.77B | 16.96B | 16.15B | 14.42B | 12.90B |
| Total Operating Expenses | 27.93B | 25.50B | 20.67B | 19.30B | 17.44B | 15.42B |
| Operating Income | 12.95B | 12.59B | 15.48B | 6.27B | 4.62B | 4.08B |
| Interest Expense | -5.03B | -3.46B | -1.79B | -1.41B | -1.22B | -734.86M |
| Interest Income | 2.38B | 1.80B | 817.06M | 370.64M | 612.40M | 296.50M |
| Net Interest Expense | -2.66B | -1.65B | -976.24M | -1.04B | -605.58M | -438.36M |
| Income (Loss) on Equity Investments | 49.68M | 48.15M | 35.32M | 32.39M | 24.55M | 22.08M |
| Currency Exchange Gain (Loss) | -441.20M | -123.89M | -210.50M | 310.72M | 492.32M | 48.46M |
| Other Non-Operating Income (Expenses) | 872.43M | 880.02M | -680.92M | -822.05M | -259.16M | -537.53M |
| EBT Excluding Unusual Items | 10.77B | 11.74B | 13.64B | 4.75B | 4.27B | 3.17B |
| Asset Writedown | -38.26M | -38.26M | ||||
| Pretax Income | 10.73B | 11.70B | 13.64B | 4.75B | 4.27B | 3.17B |
| Income Tax Expense | 2.67B | 3.24B | 4.06B | 1.23B | 1.15B | 864.29M |
| Net Income | 8.04B | 8.46B | 9.58B | 3.52B | 3.12B | 2.31B |
| Net Income to Common | 8.04B | 8.46B | 9.58B | 3.52B | 3.12B | 2.31B |
| Shares Outstanding (Basic) | 3.58B | 3.53B | 3.52B | 3.52B | 3.52B | 3.52B |
| Shares Outstanding (Diluted) | 3.58B | 3.53B | 3.52B | 3.52B | 3.52B | 3.52B |
| EPS (Basic) | 2.25 | 2.40 | 2.72 | 1.00 | 0.89 | 0.65 |
| EPS (Diluted) | 2.25 | 2.40 | 2.72 | 1.00 | 0.89 | 0.65 |
| Free Cash Flow | -8.19B | -5.38B | -626.11M | 4.71B | 3.89B | 3.86B |
| Free Cash Flow Per Share | -2.29 | -1.52 | -0.18 | 1.34 | 1.10 | 1.10 |
| Dividend Per Share | 0.66 | 0.66 | 0.66 | 0.28 | 0.25 | 0.18 |
| Profit Margin | 19.67% | 22.21% | 26.50% | 13.78% | 14.15% | 11.83% |
| Free Cash Flow Margin | -20.03% | -14.12% | -1.73% | 18.41% | 17.66% | 19.82% |
| EBITDA | 15.21B | 14.53B | 17.93B | 8.87B | 6.88B | 6.16B |
| EBITDA Margin | 37.22% | 38.16% | 49.60% | 34.67% | 31.20% | 31.58% |
| D&A For EBITDA | 2.27B | 1.95B | 2.45B | 2.59B | 2.26B | 2.08B |
| EBIT | 12.95B | 12.59B | 15.48B | 6.27B | 4.62B | 4.08B |
| EBIT Margin | 31.68% | 33.05% | 42.81% | 24.53% | 20.95% | 20.91% |
| Effective Tax Rate | 24.92% | 27.69% | 29.78% | 25.88% | 26.95% | 27.26% |
Balance sheet
Fiscal year January - December; amounts in BRL.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 4.24B | 4.66B | 1.68B | 838.48M | 1.87B | 717.93M |
| Short-Term Investments | 13.20B | 7.71B | 3.70B | 2.43B | 1.68B | 2.43B |
| Accounts Receivable | 4.08B | 4.53B | 4.02B | 3.70B | 3.16B | 2.77B |
| Other Receivables | 1.73B | 1.17B | 754.89M | 464.69M | 209.62M | 263.06M |
| Inventory | 74.02M | 22.06M | 10.82M | 86.01M | 124.25M | 113.51M |
| Restricted Cash | 27.89M | 9.57M | 37.72M | 54.94M | 37.47M | 28.47M |
| Loans Receivable Current | 5.12M | 4.72M | 4.01M | 694.00K | 242.00K | 11.92M |
| Other Current Assets | 538.12M | 447.35M | 402.81M | 208.57M | 209.80M | 164.37M |
| Total Current Assets | 23.89B | 18.56B | 10.61B | 7.78B | 7.28B | 6.50B |
| Property, Plant & Equipment | 1.16B | 942.76M | 686.28M | 592.62M | 440.14M | 395.01M |
| Other Intangible Assets | 72.63B | 72.11B | 62.25B | 43.89B | 39.22B | 36.40B |
| Long-Term Investments | 254.97M | 254.36M | 984.86M | 161.86M | 110.77M | 79.44M |
| Long-Term Loans Receivable | 2.81M | 2.81M | 12.03M | |||
| Long-Term Deferred Tax Assets | 41.81M | 98.08M | ||||
| Long-Term Accounts Receivable | 19.38B | 11.28B | 5.21B | 7.67B | 8.83B | 8.77B |
| Other Long-Term Assets | 1.71B | 1.06B | 1.23B | 1.27B | 1.32B | 1.00B |
| Total Assets | 119.61B | 104.20B | 80.97B | 61.47B | 57.21B | 53.17B |
| Accounts Payable | 2.66B | 2.40B | 766.61M | 456.21M | 430.95M | 236.76M |
| Accrued Expenses | 3.73B | 3.76B | 3.02B | 2.41B | 1.45B | 1.05B |
| Current Portion of Long-Term Debt | 5.14B | 4.94B | 2.93B | 2.50B | 2.13B | 1.72B |
| Current Portion of Leases | 145.74M | 156.65M | 206.19M | 118.38M | 116.56M | 105.95M |
| Current Income Taxes Payable | 456.08M | 1.31M | 1.96M | 205.96M | 55.80M | |
| Other Current Liabilities | 4.07B | 5.30B | 5.05B | 2.72B | 2.53B | 1.92B |
| Total Current Liabilities | 16.25B | 16.55B | 11.97B | 8.41B | 6.66B | 5.09B |
| Long-Term Debt | 46.25B | 34.93B | 21.86B | 16.59B | 16.37B | 15.48B |
| Long-Term Leases | 119.44M | 119.84M | 261.88M | 333.13M | 342.66M | 417.33M |
| Pension & Post-Retirement Benefits | 2.40B | 2.14B | 1.93B | 2.14B | 2.15B | 2.32B |
| Long-Term Deferred Tax Liabilities | 2.50B | 3.13B | 2.66B | 189.28M | 283.74M | |
| Other Long-Term Liabilities | 6.16B | 4.93B | 5.35B | 4.14B | 4.16B | 4.64B |
| Total Liabilities | 74.30B | 61.80B | 44.04B | 31.61B | 29.87B | 28.23B |
| Common Stock | 21.38B | 21.21B | 15.00B | 15.00B | 15.00B | 15.00B |
| Retained Earnings | 24.15B | 21.55B | 21.65B | 14.71B | 12.16B | 9.89B |
| Treasury Stock | -472.00M | -475.38M | ||||
| Comprehensive Income & Other | 117.62M | 118.08M | 280.34M | 146.36M | 177.64M | 46.37M |
| Shareholders' Equity | 45.31B | 42.40B | 36.93B | 29.86B | 27.33B | 24.93B |
| Total Liabilities & Equity | 119.61B | 104.20B | 80.97B | 61.47B | 57.21B | 53.17B |
| Total Debt | 51.66B | 40.14B | 25.26B | 19.54B | 18.96B | 17.72B |
| Net Cash (Debt) | -34.22B | -27.77B | -19.88B | -16.27B | -15.41B | -14.57B |
| Net Cash Per Share | -9.55 | -7.87 | -5.64 | -4.62 | -4.37 | -4.13 |
| Filing Date Shares Outstanding | 3.52B | 3.51B | 3.52B | 3.52B | 3.52B | 3.52B |
| Total Common Shares Outstanding | 3.52B | 3.51B | 3.52B | 3.52B | 3.52B | 3.52B |
| Working Capital | 7.65B | 2.00B | -1.36B | -624.39M | 627.32M | 1.41B |
| Book Value Per Share | 12.82 | 12.09 | 10.48 | 8.47 | 7.76 | 7.07 |
| Tangible Book Value | -27.99B | -29.70B | -25.32B | -14.04B | -11.89B | -11.47B |
| Tangible Book Value Per Share | -7.94 | -8.47 | -7.18 | -3.98 | -3.37 | -3.25 |
| Land | 111.21M | 94.00M | 94.75M | 94.23M | 94.23M | 94.21M |
| Buildings | 175.70M | 134.82M | 127.97M | 125.67M | 90.31M | 86.70M |
| Machinery | 1.04B | 962.91M | 680.62M | 499.05M | 463.93M | 444.78M |
| Construction In Progress | 259.86M | 143.24M | 63.35M |
Cash flow statement
Fiscal year January - December; amounts in BRL.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 8.04B | 8.46B | 9.58B | 3.52B | 3.12B | 2.31B |
| Depreciation & Amortization | 2.33B | 2.02B | 2.53B | 2.66B | 2.33B | 2.16B |
| Other Amortization | 185.52M | 190.33M | 144.61M | 133.02M | 119.36M | 97.64M |
| Loss (Gain) on Equity Investments | -49.68M | -48.15M | -35.32M | -32.39M | -24.55M | -22.08M |
| Asset Writedown | 160.68M | 162.12M | 31.20M | -117.25M | -99.26M | -70.65M |
| Change in Accounts Receivable | 2.11B | 1.50B | -442.31M | -835.32M | -489.88M | -742.26M |
| Change in Inventory | -47.81M | 24.22M | -13.79M | 38.24M | -10.74M | -8.66M |
| Change in Accounts Payable | -1.13B | -1.08B | -437.69M | -394.19M | -220.46M | -245.50M |
| Change in Income Taxes | -719.82M | -369.65M | -40.97M | -64.93M | 154.05M | -57.18M |
| Change in Other Net Operating Assets | -119.54M | -176.89M | -139.28M | -1.40B | -1.54B | -466.82M |
| Other Operating Activities | -2.51B | -2.38B | -4.33B | 695.22M | -154.02M | 323.98M |
| Operating Cash Flow | 8.21B | 8.36B | 7.40B | 4.85B | 3.97B | 3.91B |
| Capital Expenditures | -16.39B | -13.74B | -8.03B | -147.25M | -73.67M | -50.28M |
| Sale (Purchase) of Intangibles | -3.99B | -3.55B | -3.70B | |||
| Investment in Securities | -8.37B | -1.95B | -1.96B | -749.47M | 755.51M | 1.08B |
| Other Investing Activities | 535.42M | -10.56M | 17.23M | -17.47M | -9.01M | 7.28M |
| Investing Cash Flow | -24.53B | -15.70B | -9.98B | -4.91B | -2.88B | -2.66B |
| Long-Term Debt Issued | 18.34B | 6.87B | 2.37B | 2.81B | 2.92B | |
| Long-Term Debt Repaid | -4.30B | -2.25B | -1.77B | -1.54B | -2.90B | |
| Net Debt Issued (Repaid) | 20.58B | 14.04B | 4.62B | 600.02M | 1.27B | 26.21M |
| Issuance of Common Stock | 811.00K | |||||
| Repurchase of Common Stock | -475.38M | -475.38M | ||||
| Common Dividends Paid | -1.69B | -2.36B | -928.85M | -823.67M | -603.54M | -254.22M |
| Other Financing Activities | -2.41B | -877.93M | -280.44M | -755.00M | -606.46M | -701.01M |
| Financing Cash Flow | 16.01B | 10.32B | 3.42B | -977.84M | 60.30M | -929.02M |
| Net Cash Flow | -317.54M | 2.98B | 844.12M | -1.03B | 1.15B | 321.53M |
| Free Cash Flow | -8.19B | -5.38B | -626.11M | 4.71B | 3.89B | 3.86B |
| Free Cash Flow Margin | -20.03% | -14.12% | -1.73% | 18.41% | 17.66% | 19.82% |
| Free Cash Flow Per Share | -2.29 | -1.52 | -0.18 | 1.34 | 1.10 | 1.10 |
| Levered Free Cash Flow | -6.26B | -4.16B | 5.54B | 2.29B | 1.71B | 272.51M |
| Unlevered Free Cash Flow | -3.11B | -2.00B | 6.66B | 3.17B | 2.48B | 731.80M |
| Cash Interest Paid | 3.41B | 2.70B | 1.98B | 1.94B | 1.51B | 845.45M |
| Cash Income Tax Paid | 2.65B | 2.52B | 1.76B | 1.57B | 1.37B | 1.21B |
| Change in Working Capital | 91.18M | -101.99M | -1.07B | -2.66B | -2.11B | -1.52B |
Ratios
Fiscal year January - December; amounts in BRL.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 15.92B | 17.04B | 9.78B | 10.62B | 7.39B | 4.93B |
| Enterprise Value | 22.24B | 21.27B | 13.04B | 13.92B | 10.30B | 7.40B |
| PE Ratio | 10.97 | 11.09 | 6.32 | 14.62 | 12.52 | 11.91 |
| PS Ratio | 2.02 | 2.46 | 1.67 | 2.02 | 1.77 | 1.41 |
| PB Ratio | 1.82 | 2.21 | 1.64 | 1.73 | 1.43 | 1.10 |
| P/FCF Ratio | 10.94 | 10.03 | 7.11 | |||
| P/OCF Ratio | 10.57 | 11.23 | 8.17 | 10.61 | 9.85 | 7.02 |
| EV/Sales Ratio | 2.82 | 3.08 | 2.23 | 2.64 | 2.47 | 2.12 |
| EV/EBITDA Ratio | 7.59 | 8.06 | 4.50 | 7.62 | 7.91 | 6.70 |
| EV/EBIT Ratio | 8.91 | 9.30 | 5.21 | 10.77 | 11.78 | 10.12 |
| EV/FCF Ratio | 14.35 | 13.98 | 10.67 | |||
| Debt / Equity Ratio | 1.14 | 0.95 | 0.68 | 0.65 | 0.69 | 0.71 |
| Debt / EBITDA Ratio | 3.38 | 2.75 | 1.40 | 2.19 | 2.73 | 2.84 |
| Debt / FCF Ratio | 4.15 | 4.87 | 4.59 | |||
| Net Debt / Equity Ratio | 0.76 | 0.66 | 0.54 | 0.55 | 0.56 | 0.58 |
| Net Debt / EBITDA Ratio | 2.25 | 1.91 | 1.11 | 1.83 | 2.24 | 2.37 |
| Net Debt / FCF Ratio | -4.18 | -5.16 | -31.75 | 3.46 | 3.96 | 3.77 |
| Quick Ratio | 1.43 | 1.09 | 0.85 | 0.88 | 1.04 | 1.21 |
| Current Ratio | 1.47 | 1.12 | 0.89 | 0.93 | 1.09 | 1.28 |
| Asset Turnover | 0.39 | 0.41 | 0.51 | 0.43 | 0.40 | 0.38 |
| Return on Equity (ROE) | 18.79% | 21.33% | 28.69% | 12.32% | 11.94% | 9.66% |
| Return on Assets (ROA) | 7.77% | 8.50% | 13.58% | 6.61% | 5.23% | 4.92% |
| Return on Capital Employed (ROCE) | 12.50% | 14.40% | 22.40% | 11.80% | 9.10% | 8.50% |
| Earnings Yield | 9.12% | 9.01% | 15.84% | 6.84% | 7.99% | 8.40% |
| FCF Yield | -9.44% | -5.73% | -1.03% | 9.14% | 9.97% | 14.07% |
| Dividend Yield | 2.23% | 2.48% | 3.87% | 1.91% | 2.23% | 2.35% |
| Payout Ratio | 24.41% | 27.93% | 9.70% | 23.38% | 19.34% | 11.03% |
| Buyback Yield / Dilution | -3.18% | -0.11% | 0.00% | |||
| Total Shareholder Return | -0.96% | 2.37% | 3.87% | 1.91% | 2.23% | 2.35% |