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B3 · BRL

ALUP3

Alupar Investimento SA

R$11.21+2.75% (R$0.30)
Day's range
R$11.17 – R$11.50
Day's volume
R$35.9k
52-week range
R$10.50 – R$14.00

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See how ALUP3 weighs in your net worth, what it has paid you and how far it is from your target allocation.

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ALUP3 in numbers

Market cap
R$11.1bn
P/E
7.99
P/B
1.15
Dividend yield (12m)
3.21%
Net debt/EBITDA
5.94

The 12-month dividend yield of ALUP3 is 3.21%, below its 5-year average of 4.44%.

ALUP3 price history

01/10/202501/10/2026
Compare with

ALUP3 risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return-1.37%+35.99%+87.47%
Volatility (annualised)15.17%17.22%15.92%
Largest drawdown-16.51%-16.51%-16.51%
Positive months4/1218/3631/60

How much did investing in ALUP3 return?

R$1,000.00 invested on 01/10/2021 would be worth R$1,979.68 today.

Value today in ALUP3
R$1,979.68
Return over the period
+97.97%
Return per year
+14.64%
In the Ibovespa
R$1,799.27

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

ALUP3 fundamentals

Valuation

  • P/E
    7.99
  • P/B
    1.15
  • EV/EBITDA
    8.98
  • EV/EBIT
    9.52
  • EV/Revenue
    6.52
  • P/EBIT
    3.22
  • P/S
    2.21
  • P/OCF
    6.39
  • P/FCF
    70.10
  • Earnings yield
    10.50%
  • PEG ratio
    0.23
  • Earnings per share
    R$1.40
  • Book value per share
    R$9.75

Debt

  • Net debt
    R$21.6bn
  • Net debt/EBITDA
    5.94
  • Net debt/Equity
    1.61
  • Debt/Equity
    2.02
  • Current ratio
    3.17
  • Quick ratio
    3.17
  • Cash ratio
    1.94

Efficiency

  • Gross margin
    65.85%
  • EBITDA margin
    72.59%
  • Operating margin
    68.45%
  • Net margin
    40.21%
  • Asset turnover
    0.14

Profitability

  • ROE
    14.38%
  • ROA
    5.68%
  • ROIC
    7.91%
  • Payout
    25.67%

Growth

  • Revenue CAGR (5 years)
    -6.02%
  • Earnings CAGR (5 years)
    0.59%
  • Revenue growth (year)
    9.89%
  • Earnings growth (year)
    11.92%
  • Revenue growth (quarter)
    15.90%
  • Earnings growth (quarter)
    33.62%

What is ALUP3's fair price?

Two classic value formulas, with today's numbers. The current price is R$11.21.

Graham's fair price
R$17.54
56.45% above the price

√(22.50 × R$1.40 × R$9.75)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price
R$6.60
41.12% below the price

R$0.40 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

ALUP3 indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator20252024202320222021202020192018
P/E9.648.1914.329.126.388.3611.2617.05
P/B0.930.760.930.810.710.881.331.05
EV/EBITDA9.419.1611.298.785.856.168.2810.77
Dividend yield2.53%4.97%5.80%5.03%3.89%2.89%1.48%3.60%
Earnings per shareR$1.23R$1.10R$0.73R$1.00R$1.27R$1.07R$1.01R$0.44
Book value per shareR$12.72R$11.86R$11.18R$11.34R$11.38R$10.17R$8.58R$7.12
ROE9.67%9.26%6.53%8.86%11.15%10.53%11.81%6.18%
ROIC7.54%8.95%6.31%8.81%10.85%10.69%9.84%7.10%
Gross margin69.57%72.64%75.91%81.93%73.26%56.04%53.72%67.40%
EBITDA margin75.07%76.77%75.87%78.68%74.90%56.25%55.70%68.77%
Net margin27.64%27.14%20.96%23.96%21.31%15.34%19.39%20.54%
Net debt/EBITDA5.866.277.336.004.043.884.365.68

ALUP3 financial statements

Line202520242023202220212020
Net revenueR$4.4bnR$4bnR$3.3bnR$3.8bnR$5.2bnR$6.1bn
Cost of sales-R$1.3bn-R$1.1bn-R$797.8m-R$692.7m-R$1.4bn-R$2.7bn
Gross profitR$3.1bnR$2.9bnR$2.5bnR$3.1bnR$3.8bnR$3.4bn
EBITDAR$3.3bnR$3.1bnR$2.5bnR$3bnR$3.9bnR$3.5bn
EBITR$3.1bnR$2.9bnR$2.4bnR$2.9bnR$3.8bnR$3.3bn
Net finance result-R$871.8m-R$951.1m-R$877.4m-R$966.1m-R$915.5m-R$461.7m
Profit before taxR$2.2bnR$1.9bnR$1.5bnR$1.9bnR$2.9bnR$2.9bn
Income tax-R$509.5m-R$81.6m-R$329.3m-R$236m-R$741.7m-R$801.3m
Net incomeR$1.2bnR$1.1bnR$694.1mR$918.5mR$1.1bnR$942.1m

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

ALUP3 against its sector

The same indicators for the company's other shares and the sector's largest stocks.

StockP/EP/BDividend yield (12m)ROEMarket cap
ALUP3Alupar Investimento S/a7.991.153.21%14.38%R$11.1bn
AXIA3AXIA313.391.323.41%9.86%R$159.1bn
AXIA7AXIA7——0.00%—R$159.1bn
SBSP3CIA SANEAMENTO BASICO EST SAO PAULO12.062.1512.68%17.80%R$96.7bn
ENEV3ENEVA S.A56.292.660.00%4.73%R$54.2bn
CPFE3CPFL ENERGIA S.A.8.732.318.20%26.43%R$52.4bn
EQTL3EQUATORIAL S.A.53.421.963.89%3.67%R$51.2bn

Does ALUP3 pay dividends?

Announced payments
TypeLast day to ownPaymentPer share
Dividend13/08/202602/10/2026R$0.07

Dividend yield per year

  • 2.41%2017
  • 3.60%2018
  • 1.48%2019
  • 2.89%2020
  • 3.89%2021
  • 5.03%2022
  • 5.80%2023
  • 4.97%2024
  • 2.53%2025
  • 2.52%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend14/05/202606/07/2026R$0.07
Dividend16/04/202610/06/2026R$0.01
Dividend26/12/202512/02/2026R$0.11
Dividend13/11/202506/01/2026R$0.10
Dividend14/08/202506/10/2025R$0.07
Dividend15/05/202508/07/2025R$0.07
Dividend16/04/202511/06/2025R$0.08
Dividend14/11/202406/01/2025R$0.08
Dividend16/08/202403/10/2024R$0.06
Dividend16/05/202408/07/2024R$0.07
Dividend19/04/202401/07/2024R$0.26
Dividend16/11/202304/01/2024R$0.04
See all 36 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend16/08/202305/10/2023R$0.04
Dividend15/05/202305/07/2023R$0.04
Dividend17/04/202316/05/2023R$0.48
Dividend11/04/202230/11/2022R$0.11
Dividend11/04/202231/08/2022R$0.15
Dividend11/04/202231/05/2022R$0.15
Dividend27/04/202130/11/2021R$0.08
Dividend27/04/202130/08/2021R$0.10
Dividend27/04/202131/05/2021R$0.10
Dividend27/04/202030/11/2020R$0.12
Dividend27/04/202017/06/2020R$0.11
Dividend29/04/201930/07/2019R$0.15
Dividend06/12/201819/12/2018R$0.06
Dividend26/04/201820/06/2018R$0.11
Dividend01/02/201816/02/2018R$0.07
Dividend25/04/201730/12/2017R$0.07
Dividend25/04/201726/06/2017R$0.10
Dividend20/04/201614/11/2016R$0.12
Dividend20/04/201628/07/2016R$0.16
Dividend20/04/201612/07/2016R$0.16
Dividend15/04/201504/05/2015R$0.40
Dividend02/10/201417/10/2014R$0.16
Dividend16/04/201402/05/2014R$0.31
Dividend16/04/2014—R$0.25
Splits, share consolidations and bonus shares
EventLast day to ownRatio
Bonus shares16/04/20254.00% in shares
Split22/04/202426 for 25
Split18/04/202326 for 25

About Alupar Investimento S/a

Sector
Energia
Segment
Energia Elétrica
Listing segment
Level 2
Tag along
100.00%
Free float
47.84%
Shares issued
671.49m ordinary · 317.39m preferred
Average daily trading
R$91.3k
Listed since
24/04/2013
CNPJ
08.364.948/0001-38

A Alupar Investimento S.A. (ALUP3) é uma holding privada de infraestrutura elétrica com foco em transmissão e geração de energia no Brasil e em outros países da América Latina. A companhia controla ativos de longo prazo, com receitas reguladas na transmissão e exposição a contratos e disponibilidade no segmento de geração. O modelo de negócio é intensivo em capital e depende de execução técnica, disciplina financeira e gestão de portfólio de concessões. No setor elétrico, a empresa opera em ambiente regulatório complexo, sujeito a revisões tarifárias, regras de desempenho e obrigações de expansão e manutenção. O resultado é influenciado por disponibilidade operacional, custo de dívida, cronograma de novos projetos e condições hidrológicas no caso de ativos de geração. A Alupar compete com grupos nacionais e internacionais de infraestrutura, buscando capturar valor por eficiência de operação, governança e alocação seletiva de capital em ativos com fluxo previsível.

Investor website
ShareholdersAs of 31/12/2026, from the Formulário de Referência filed with the CVM.
ShareholderOrdinaryPreferredTotal
Guarupart Participações Ltda.Controlling74.71%0.60%50.92%
Opportunity HDF Participações S.A.5.01%21.22%10.22%
Sharp Capital Gestora de Recursos Ltda.1.87%7.91%3.81%
PHRONESIS Investimentos Ltda.1.29%5.45%2.62%
CIME Administração e Participações S.A.Controlling1.83%0.00%1.24%
Outros15.29%64.83%31.19%

Questions about ALUP3

How much is ALUP3 today?

ALUP3 is at R$11.21 (2.75% on the day), last traded on 01/10/2026.

How much did ALUP3 pay in dividends in 2025?

ALUP3 paid R$0.30 per share in 2025, a dividend yield of 2.53%.

When is the next ALUP3 dividend?

The next announced payment is R$0.07 per share on 02/10/2026.

What are the P/E and P/B of ALUP3?

ALUP3 trades at a P/E of 7.99 and a P/B of 1.15.

How much did ALUP3 return in 12 months?

ALUP3 returned -1.37% in 12 months, with annualised volatility of 15.17% and a largest drawdown of -16.51%.

What sector is ALUP3 in?

Alupar Investimento S/a is in the Energia sector, Energia Elétrica segment.