A Business at a Glance
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ENERGY CO OF MINAS GERAIS
CIG
$4.2B
Mkt Cap
$2.21
+1.84%
Item 4. Information on the Company A. History and Development of the Company Companhia Energética de Minas Gerais – CEMIG is a state-controlled mixed capital company (‘sociedade por ações de economia mista’). CEMIG has its registered office located at Avenida Barbacena, 1200, Belo Horizonte, Minas Gerais, Brazil. The U.S. Securities and Exchange Commission (the “SEC”) maintains a website (www.sec.gov) that contains reports, proxy and information statements and other information regarding registrants, such as us, that file electronically with the SEC. Our internet address is https://www.cemig.com.br. The information posted on our website or that could be accessed through our website is not part of, or attached to or incorporated by reference into, this Form 20-F. CEMIG built its first three hydroelectric power plants (‘HPP’) in the 1950s and commenced its energy transmission and distribution operations in 1960.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 7.3B | 7.3B | 7.4B | 6.7B | 6.2B | 4.9B |
| Net Income | 1.3B | 1.3B | 1.2B | 797M | 694M | 554M |
| EPS | $0.69 | $0.69 | $0.47 | $0.32 | $0.28 | $0.29 |
| Free Cash Flow | 890M | 890M | 1.1B | 1.2B |
| Metric | 2015 | 2016 | TTM | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||
| Revenue | 6.6B | 5.5B | 6.8B | 6.1B | 6.5B | 4.9B | 6.2B | 6.7B | 7.4B | 7.3B | 7.3B |
| Gross Margin | 27.8% | 23.1% | 19.5% | 20.6% | 23.1% | 21.3% | 20.0% | 19.8% | 22.8% | 20.5% | 20.5% |
| R&D | N/A | N/A | 73M | 62M | 50M | 44M | N/A | N/A | 1.2M | 553K | 553K |
| SG&A | 202M | 194M | N/A | N/A | 163M | N/A | N/A | 154M | 142M | 151M | 151M |
| EBIT | -136M | -122M | 874M | 1.1B | -265M | N/A | 1.3B | N/A | 1.7B | N/A | 0 |
| Op. Margin | -2.1% | -2.2% | 12.9% | 17.8% | -4.1% | N/A | 20.4% | N/A | 23.1% | N/A | 0.0% |
| Net Income | 118M | 97M | 313M | 477M | 810M | 554M | 694M | 797M | 1.2B | 1.3B | 1.3B |
| Net Margin | 1.8% | 1.8% | 4.6% | 7.8% | 12.5% | 11.4% | 11.2% | 11.9% | 15.6% | 17.9% | 17.9% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||
| ROIC | -4.4% | -3.9% | 25.1% | 13.2% | 11.3% | N/A | 52.9% | N/A | 30.1% | N/A | 0.0% |
| ROE | N/A | N/A | N/A | 10.8% | 19.9% | N/A | N/A | 19.9% | 24.8% | 27.4% | 26.0% |
| ROA | 5.8% | 3.2% | 9.0% | 2.9% | 5.8% | 9.3% | 11.2% | 12.3% | 10.6% | 12.4% | 11.9% |
| Cash Flow | |||||||||||
| Op. Cash Flow | 902M | 353M | 181M | 276M | 516M | 1.7B | 1.6B | 1.3B | 1.3B | 1.0B | 1.0B |
| Free Cash Flow | 865M | 318M | 181M | 276M | 498M | 1.7B | 1.6B | 1.2B | 1.1B | 890M | 890M |
| Owner Earnings | 652M | 110M | -65M | 68M | 273M | 1.5B | 1.4B | 1.0B | 1.1B | 760M | 760M |
| CapEx | 38M | 35M | 0 | 0 | 18M | 0 | 0 | 34M | 216M | 124M | 124M |
| Maint. CapEx | 250M | 243M | 246M | 208M | 243M | 167M | 175M | 230M | 256M | 254M | 254M |
| Growth CapEx | 0 | 0 | N/A | N/A | 0 | N/A | N/A | 0 | 0 | 0 | 0 |
| D&A | 250M | 243M | 246M | 208M | 243M | 167M | 175M | 230M | 256M | 254M | 254M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 12.2% |
| Capital Allocation | |||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 178M | 116M | 0 | 408M | 367M | 792M | 792M |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 18.8% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Stock-Based Comp | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||
| Net Debt | N/A | N/A | 4.2B | 3.8B | 3.6B | 2.6B | 118M | 6.0M | 220M | 1.9B | 1.9B |
| Cash & Equiv. | 134M | 194M | 321M | 244M | 110M | 325M | 153M | 180M | 309M | 350M | 350M |
| Long-Term Debt | N/A | N/A | 3.8B | 3.4B | 3.0B | 2.5B | N/A | N/A | N/A | 1.7B | 1.7B |
| Debt/Equity | N/A | N/A | N/A | 0.92 | 0.92 | N/A | N/A | 0.04 | 0.11 | 0.45 | 0.45 |
| Interest Coverage | -0.2 | -0.2 | 1.6 | 1.8 | -0.6 | N/A | 2.2 | N/A | 5.1 | N/A | N/A |
| Equity | N/A | N/A | N/A | 4.4B | 4.1B | N/A | N/A | 4.2B | 5.0B | 5.0B | 5.0B |
| Total Assets | 3.1B | 3.1B | 3.5B | 16.4B | 12.7B | 2.3B | 2.4B | 10.5B | 11.1B | 11.0B | 11.0B |
| Total Liabilities | N/A | N/A | N/A | 12.0B | 8.6B | N/A | N/A | 6.2B | 6.1B | 6.0B | 6.0B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 1.4B | 1.5B | 1.8B | 1.7B | 2.2B | N/A | 2.0B | 2.0B | 2.6B | 2.5B | 2.5B |
| Working Capital | -127M | -366M | -39M | 1.2B | 162M | 1.1B | 418M | 440M | -246M | -353M | -353M |
| Current Assets | 1.2B | 1.1B | 2.7B | 7.6B | 905M | 3.0B | 2.4B | 2.6B | 2.4B | 2.3B | 2.3B |
| Current Liabilities | 1.3B | 1.4B | 2.7B | 6.4B | 742M | 1.9B | 2.0B | 2.2B | 2.6B | 2.6B | 2.6B |
| Per Share Data | |||||||||||
| EPS | 0.68 | 0.11 | 0.21 | 0.25 | -0.42 | 0.29 | 0.28 | 0.32 | 0.47 | 0.69 | 0.69 |
| Owner EPS | 1.54 | 0.26 | -0.04 | 0.04 | 0.14 | 0.79 | 0.57 | 0.42 | 0.44 | 0.40 | 0.40 |
| Book Value | N/A | N/A | N/A | 2.31 | 2.14 | N/A | N/A | 1.71 | 2.01 | 2.65 | 2.65 |
| Cash Flow/Share | 2.14 | 0.84 | 0.12 | 0.14 | 0.27 | 0.87 | 0.64 | 0.51 | 0.54 | 0.53 | 0.82 |
| Dividends/Share | N/A | N/A | N/A | N/A | 0.09 | 0.06 | N/A | 0.16 | 0.15 | 0.42 | 0.42 |
| Shares Out. | 422.2M | 422.2M | 1.5B | 1.9B | 1.9B | 1.9B | 2.5B | 2.5B | 2.5B | 1.9B | 1.9B |
| Valuation | |||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 3.2 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 4.7 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.8 |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.6 |
| FCF Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 21.1% |
| Market Cap | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.2B |
| Avg. Price | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.21 |
| Year-End Price | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.21 |
ENERGY CO OF MINAS GERAIS passes 4 of 9 quality checks, suggesting mixed fundamentals.
The company's 5-year average ROIC is 41.5% with a gross margin of 20.9%. Total shareholder yield (dividends) is 18.8%.
ENERGY CO OF MINAS GERAIS (CIG) has a current P/E ratio of 3.2.
ENERGY CO OF MINAS GERAIS (CIG) has a 5-year average return on invested capital (ROIC) of 41.5%. This indicates strong capital allocation and a potential competitive advantage.
ENERGY CO OF MINAS GERAIS (CIG) has a market capitalization of $4.2B. It is classified as a mid-cap stock.
Yes, ENERGY CO OF MINAS GERAIS (CIG) pays a dividend with a trailing twelve-month yield of 18.82%.
ENERGY CO OF MINAS GERAIS (CIG) operates in the Electric Services industry, within the Utilities sector.
ENERGY CO OF MINAS GERAIS (CIG) reported annual revenue of $7.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
ENERGY CO OF MINAS GERAIS (CIG) has a net profit margin of 17.9%. This is a healthy margin.
| 1.6B |
| 1.7B |
| ROIC | 0.0% | - | 30.1% | - | 52.9% | - |
|---|
| Gross Margin | 20.5% | 20.5% | 22.8% | 19.8% | 20.0% | 21.3% |
|---|
| Debt/Equity | 0.45 | 0.45 | 0.11 | 0.04 | - | - |
|---|
| Dividends/Share | $0.42 | $0.42 | $0.15 | $0.16 | - | $0.06 |
|---|
| Operating Income | 0 | - | 1.7B | - | 1.3B | - |
|---|
| Operating Margin | 0.0% | - | 23.1% | - | 20.4% | - |
|---|
| ROE | 26.0% | 27.4% | 24.8% | 19.9% | - | - |
|---|
| Shares Outstanding | 1,904M | 1,904M | 2,472M | 2,479M | 2,478M | 1,906M |
|---|
ENERGY CO OF MINAS GERAIS (CIG) generated $890 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
ENERGY CO OF MINAS GERAIS (CIG) has a debt-to-equity ratio of 0.45. This indicates a conservatively financed balance sheet.
ENERGY CO OF MINAS GERAIS (CIG) reported earnings per share (EPS) of $0.69 in its most recent fiscal year.
ENERGY CO OF MINAS GERAIS (CIG) has a return on equity (ROE) of 27.4%. This indicates the company generates strong returns for shareholders.
ENERGY CO OF MINAS GERAIS (CIG) has a 5-year average gross margin of 20.9%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 10 years of financial data for ENERGY CO OF MINAS GERAIS (CIG), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
ENERGY CO OF MINAS GERAIS (CIG) has a book value per share of $2.65, based on its most recent annual SEC filing.
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