B3 · BRL
CMIG4
Companhia Energetica de Minas Gerais SA Pfd
- Day's range
- R$11.03 – R$11.17
- Day's volume
- R$203.7m
- 52-week range
- R$9.87 – R$13.87
Follow CMIG4 on Fuolio
See how CMIG4 weighs in your net worth, what it has paid you and how far it is from your target allocation.
Create a free accountCMIG4 in numbers
- Market cap
- R$37.2bn
- P/E
- 6.95
- P/B
- 1.09
- Dividend yield (12m)
- 10.21%
- Net debt/EBITDA
- 4.68
The 12-month dividend yield of CMIG4 is 10.21%, below its 5-year average of 13.67%.
CMIG4 price history
CMIG4 risk and return
Monthly closes adjusted for splits and distributions.
| Metric | 12 months | 36 months | 60 months |
|---|---|---|---|
| Return | +8.66% | +83.18% | +186.17% |
| Volatility (annualised) | 18.05% | 17.19% | 21.79% |
| Largest drawdown | -13.03% | -13.03% | -13.03% |
| Positive months | 9/12 | 26/36 | 41/60 |
How much did investing in CMIG4 return?
R$1,000.00 invested on 01/09/2021 would be worth R$2,568.26 today.
- Value today in CMIG4
- R$2,568.26
- Return over the period
- +156.83%
- Return per year
- +20.76%
- In the Ibovespa
- R$1,657.66
With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.
CMIG4 fundamentals
Valuation
- P/E6.95
- P/B1.09
- EV/EBITDA9.04
- EV/EBIT11.14
- EV/Revenue1.76
- P/EBIT5.37
- P/S0.85
- P/OCF10.91
- P/FCF-11.83
- Earnings yield8.97%
- PEG ratio—
- Earnings per shareR$1.61
- Book value per shareR$10.20
Debt
- Net debtR$39.9bn
- Net debt/EBITDA4.68
- Net debt/Equity1.37
- Debt/Equity1.47
- Current ratio1.17
- Quick ratio1.17
- Cash ratio0.23
Efficiency
- Gross margin15.93%
- EBITDA margin19.50%
- Operating margin15.82%
- Net margin10.51%
- Asset turnover0.62
Profitability
- ROE15.75%
- ROA6.49%
- ROIC8.91%
- Payout70.96%
Growth
- Revenue CAGR (5 years)9.57%
- Earnings CAGR (5 years)1.59%
- Revenue growth (year)7.36%
- Earnings growth (year)-31.19%
- Revenue growth (quarter)4.25%
- Earnings growth (quarter)-29.33%
What is CMIG4's fair price?
Two classic value formulas, with today's numbers. The current price is R$11.16.
- Graham's fair price
- R$19.19
- 71.99% above the price
√(22.50 × R$1.61 × R$10.20)
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$21.69
- 94.39% above the price
R$1.30 (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.
CMIG4 indicators by year
Multiples at each year's closing price; margins and returns from that year's accounts.
| Indicator | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| P/E | 6.54 | 4.47 | 5.70 | 5.99 | 5.92 | 8.61 | 6.43 | 11.89 |
| P/B | 1.12 | 1.16 | 1.33 | 1.13 | 1.14 | 1.41 | 1.27 | 1.27 |
| EV/EBITDA | 8.22 | 4.81 | 5.69 | 5.61 | 4.59 | 7.33 | 10.13 | 12.18 |
| Dividend yield | 12.53% | 17.25% | 9.32% | 11.95% | 17.28% | 6.78% | 9.49% | 7.08% |
| Earnings per share | R$1.71 | R$2.49 | R$2.01 | R$1.86 | R$2.22 | R$1.69 | R$2.14 | R$1.17 |
| Book value per share | R$9.99 | R$9.57 | R$8.62 | R$9.90 | R$11.49 | R$10.32 | R$10.89 | R$10.93 |
| ROE | 17.13% | 25.99% | 23.38% | 18.79% | 19.28% | 16.39% | 19.68% | 10.67% |
| ROIC | 9.02% | 15.13% | 15.16% | 15.79% | 16.34% | 10.26% | 5.46% | 4.79% |
| Gross margin | 16.93% | 20.48% | 22.75% | 19.76% | 19.98% | 21.34% | 22.81% | 20.61% |
| EBITDA margin | 19.38% | 28.26% | 23.08% | 19.93% | 23.78% | 22.58% | 16.02% | 14.96% |
| Net margin | 11.46% | 17.87% | 15.64% | 11.87% | 11.15% | 11.35% | 12.32% | 7.64% |
| Net debt/EBITDA | 4.35 | 1.98 | 1.82 | 2.04 | 1.81 | 3.00 | 5.18 | 6.11 |
CMIG4 financial statements
| Line | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Net revenue | R$42.8bn | R$39.8bn | R$36.8bn | R$34.5bn | R$33.6bn | R$25.2bn |
| Cost of sales | -R$35.5bn | -R$31.7bn | -R$28.5bn | -R$27.7bn | -R$26.9bn | -R$19.8bn |
| Gross profit | R$7.2bn | R$8.2bn | R$8.4bn | R$6.8bn | R$6.7bn | R$5.4bn |
| EBITDA | R$8.3bn | R$11.3bn | R$8.5bn | R$6.9bn | R$8bn | R$5.7bn |
| EBIT | R$6.8bn | R$9.9bn | R$7.2bn | R$5.7bn | R$7bn | R$4.7bn |
| Net finance result | -R$1.1bn | -R$520.8m | -R$379m | -R$1.6bn | -R$2.3bn | -R$905.5m |
| Profit before tax | R$5.7bn | R$9.4bn | R$6.9bn | R$4.1bn | R$4.7bn | R$3.8bn |
| Income tax | -R$771.6m | -R$2.2bn | -R$1.1bn | -R$26.2m | -R$945.3m | -R$935.7m |
| Net income | R$4.9bn | R$7.1bn | R$5.8bn | R$4.1bn | R$3.8bn | R$2.9bn |
Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.
CMIG4 against its sector
The same indicators for the company's other shares and the sector's largest stocks.
| Stock | P/E | P/B | Dividend yield (12m) | ROE | Market cap |
|---|---|---|---|---|---|
| CMIG4Cia Energetica De Minas Gerais - Cemig | 6.95 | 1.09 | 10.21% | 15.75% | R$37.2bn |
| AXIA3AXIA3 | 13.39 | 1.32 | 3.41% | 9.86% | R$159bn |
| AXIA7AXIA7 | — | — | 0.00% | — | R$159bn |
| SBSP3CIA SANEAMENTO BASICO EST SAO PAULO | 12.06 | 2.15 | 12.68% | 17.80% | R$96.7bn |
| ENEV3ENEVA S.A | 56.29 | 2.66 | 0.00% | 4.73% | R$54.2bn |
| CPFE3CPFL ENERGIA S.A. | 8.73 | 2.31 | 8.20% | 26.43% | R$52.4bn |
Does CMIG4 pay dividends?
| Type | Last day to own | Payment | Per share |
|---|---|---|---|
| Dividend | 30/04/2026 | 30/12/2026 | R$0.12 |
| Interest on equity | 23/12/2025 | 30/12/2026 | R$0.12 |
| Interest on equity | 29/09/2025 | 30/12/2026 | R$0.11 |
| Interest on equity | 23/06/2025 | 30/12/2026 | R$0.10 |
| Interest on equity | 25/03/2025 | 30/12/2026 | R$0.09 |
| Interest on equity | 22/09/2026 | 30/06/2027 | R$0.03 |
| Interest on equity | 23/06/2026 | 30/06/2027 | R$0.11 |
| Interest on equity | 24/03/2026 | 30/06/2027 | R$0.12 |
| Interest on equity | 22/09/2026 | 30/12/2027 | R$0.03 |
| Interest on equity | 23/06/2026 | 30/12/2027 | R$0.11 |
| Interest on equity | 24/03/2026 | 30/12/2027 | R$0.12 |
Dividend yield per year
- 15.58%2017
- 7.08%2018
- 9.49%2019
- 6.78%2020
- 17.28%2021
- 11.95%2022
- 9.32%2023
- 17.25%2024
- 12.53%2025
- 4.85%2026
| Type | Last day to own | Payment | Per share |
|---|---|---|---|
| Dividend | 30/04/2026 | 30/06/2026 | R$0.12 |
| Interest on equity | 23/12/2025 | 30/06/2026 | R$0.12 |
| Interest on equity | 29/09/2025 | 30/06/2026 | R$0.11 |
| Interest on equity | 23/06/2025 | 30/06/2026 | R$0.10 |
| Interest on equity | 25/03/2025 | 30/06/2026 | R$0.09 |
| Dividend | 22/12/2025 | 30/12/2025 | R$0.15 |
| Dividend | 30/04/2025 | 30/12/2025 | R$0.33 |
| Interest on equity | 23/12/2024 | 30/12/2025 | R$0.10 |
| Interest on equity | 23/09/2024 | 30/12/2025 | R$0.08 |
| Interest on equity | 21/06/2024 | 30/12/2025 | R$0.08 |
| Interest on equity | 26/03/2024 | 30/12/2025 | R$0.09 |
| Dividend | 30/04/2025 | 30/06/2025 | R$0.33 |
See all 120 distributions
| Type | Last day to own | Payment | Per share |
|---|---|---|---|
| Interest on equity | 23/12/2024 | 30/06/2025 | R$0.10 |
| Interest on equity | 23/09/2024 | 30/06/2025 | R$0.08 |
| Interest on equity | 21/06/2024 | 30/06/2025 | R$0.08 |
| Dividend | 29/04/2024 | 27/12/2024 | R$0.12 |
| Interest on equity | 21/12/2023 | 27/12/2024 | R$0.30 |
| Interest on equity | 25/09/2023 | 27/12/2024 | R$0.09 |
| Interest on equity | 23/06/2023 | 27/12/2024 | R$0.10 |
| Interest on equity | 27/03/2023 | 27/12/2024 | R$0.10 |
| Dividend | 23/08/2024 | 30/08/2024 | R$0.50 |
| Dividend | 29/04/2024 | 28/06/2024 | R$0.12 |
| Interest on equity | 21/12/2023 | 28/06/2024 | R$0.30 |
| Interest on equity | 25/09/2023 | 28/06/2024 | R$0.09 |
| Interest on equity | 23/06/2023 | 28/06/2024 | R$0.10 |
| Interest on equity | 27/03/2023 | 28/06/2024 | R$0.10 |
| Dividend | 27/04/2023 | 28/12/2023 | R$0.06 |
| Interest on equity | 27/12/2022 | 28/12/2023 | R$0.12 |
| Interest on equity | 21/12/2022 | 28/12/2023 | R$0.09 |
| Interest on equity | 23/09/2022 | 28/12/2023 | R$0.11 |
| Interest on equity | 24/06/2022 | 28/12/2023 | R$0.08 |
| Dividend | 27/04/2023 | 30/06/2023 | R$0.06 |
| Interest on equity | 27/12/2022 | 30/06/2023 | R$0.12 |
| Interest on equity | 21/12/2022 | 30/06/2023 | R$0.09 |
| Interest on equity | 23/09/2022 | 30/06/2023 | R$0.11 |
| Dividend | 29/04/2022 | 29/12/2022 | R$0.30 |
| Interest on equity | 28/03/2022 | 29/12/2022 | R$0.14 |
| Interest on equity | 21/12/2021 | 29/12/2022 | R$0.28 |
| Dividend | 29/04/2022 | 30/06/2022 | R$0.30 |
| Interest on equity | 30/04/2021 | 29/12/2021 | R$0.18 |
| Dividend | 30/04/2021 | 29/12/2021 | R$0.31 |
| Dividend | 30/04/2021 | 30/06/2021 | R$0.31 |
| Interest on equity | 30/04/2021 | 30/06/2021 | R$0.18 |
| Interest on equity | 30/12/2020 | 30/06/2021 | R$0.29 |
| Interest on equity | 25/09/2020 | 30/06/2021 | R$0.08 |
| Dividend | 31/07/2020 | 30/12/2020 | R$0.25 |
| Interest on equity | 23/12/2019 | 30/12/2020 | R$0.27 |
| Dividend | 03/05/2019 | 27/12/2019 | R$0.45 |
| Interest on equity | 03/05/2019 | 27/12/2019 | R$0.07 |
| Interest on equity | 21/12/2018 | 28/06/2019 | R$0.14 |
| Dividend | 30/04/2018 | 28/12/2018 | R$0.50 |
| Dividend | 12/05/2017 | 28/12/2017 | R$0.12 |
| Interest on equity | 26/12/2016 | 28/12/2017 | R$0.15 |
| Dividend | 12/05/2017 | 30/06/2017 | R$0.12 |
| Interest on equity | 26/12/2016 | 30/06/2017 | R$0.15 |
| Dividend | 29/04/2016 | 30/12/2016 | R$0.50 |
| Dividend | 29/04/2016 | 20/12/2016 | R$0.34 |
| Interest on equity | 30/12/2015 | 20/12/2016 | R$0.08 |
| Interest on equity | 30/12/2015 | 30/06/2016 | R$0.08 |
| Dividend | 30/04/2015 | 28/12/2015 | R$0.45 |
| Dividend | 07/11/2014 | 19/12/2014 | R$0.87 |
| Dividend | 27/06/2014 | 30/09/2014 | R$0.48 |
| Dividend | 27/06/2014 | 08/07/2014 | R$0.87 |
| Dividend | 30/04/2014 | 30/06/2014 | R$0.89 |
| Interest on equity | 05/12/2013 | 19/12/2013 | R$0.55 |
| Dividend | 21/12/2012 | 31/10/2013 | R$0.47 |
| Dividend | 21/12/2012 | 15/01/2013 | R$1.41 |
| Dividend | 09/12/2011 | 28/12/2011 | R$1.25 |
| Dividend | 29/04/2011 | 30/06/2011 | R$0.88 |
| Dividend | 16/12/2010 | 29/12/2010 | R$1.32 |
| Dividend | 29/04/2010 | 29/06/2010 | R$0.75 |
| Dividend | 25/04/2008 | 27/06/2008 | R$0.89 |
| Dividend | 11/07/2006 | 10/08/2006 | R$0.47 |
| Dividend | 16/01/2006 | 27/01/2006 | R$5.53 |
| Dividend | 29/04/2005 | 29/12/2005 | R$1.13 |
| Interest on equity | 10/01/2005 | 29/12/2005 | R$0.25 |
| Interest on equity | 08/09/2004 | 30/06/2005 | R$0.62 |
| Dividend | 30/04/2004 | 28/12/2004 | R$0.44 |
| Interest on equity | 29/12/2003 | 28/12/2004 | R$0.62 |
| Interest on equity | 08/12/2003 | 28/12/2004 | R$0.93 |
| Interest on equity | 27/12/2002 | 22/12/2003 | R$0.62 |
| Interest on equity | 23/05/2002 | 22/12/2003 | R$0.74 |
| Dividend | 30/04/2002 | 30/09/2002 | R$0.70 |
| Interest on equity | 27/12/2001 | 30/09/2002 | R$0.65 |
| Interest on equity | 29/06/2000 | 28/09/2001 | R$0.61 |
| Interest on equity | 14/04/2000 | 28/09/2001 | R$0.57 |
| Interest on equity | 20/12/1999 | 16/11/2000 | R$1.18 |
| Dividend | 27/04/1999 | 31/05/1999 | R$0.50 |
| Dividend | 27/04/1999 | 31/05/1999 | R$0.32 |
| Dividend | 27/04/1999 | 31/05/1999 | R$0.23 |
| Interest on equity | 26/12/2014 | — | R$0.09 |
| Dividend | 30/04/2014 | — | R$0.45 |
| Dividend | 30/04/2013 | — | R$0.42 |
| Dividend | 30/04/2013 | — | R$0.29 |
| Interest on equity | 21/12/2012 | — | R$0.80 |
| Interest on equity | 21/12/2012 | — | R$0.19 |
| Interest on equity | 21/12/2012 | — | R$1.00 |
| Dividend | 27/04/2012 | — | R$0.95 |
| Dividend | 29/04/2009 | — | R$0.95 |
| Dividend | 26/04/2007 | — | R$1.47 |
| Dividend | 26/04/2007 | — | R$1.02 |
| Interest on equity | 11/05/2006 | — | R$0.52 |
| Dividend | 28/04/2006 | — | R$1.43 |
| Interest on equity | 02/01/2006 | — | R$0.48 |
| Interest on equity | 08/11/2005 | — | R$0.60 |
| Interest on equity | 08/07/2005 | — | R$0.87 |
| Interest on equity | 10/12/2004 | — | R$1.05 |
| Interest on equity | 09/06/2004 | — | R$1.23 |
| Interest on equity | 21/12/1998 | — | R$0.63 |
| Interest on equity | 27/10/1998 | — | R$0.54 |
| Interest on equity | 27/10/1998 | — | R$0.08 |
| Interest on equity | 31/08/1998 | — | R$0.35 |
| Interest on equity | 31/08/1998 | — | R$0.84 |
| Dividend | 30/04/1998 | — | R$0.92 |
| Interest on equity | 30/04/1998 | — | R$0.56 |
| Interest on equity | 23/12/1997 | — | R$0.62 |
| Dividend | 30/04/1997 | — | R$0.68 |
| Dividend | 30/04/1997 | — | R$0.32 |
| Dividend | 29/04/1996 | — | R$0.74 |
| Dividend | 29/04/1996 | — | R$0.26 |
| Event | Last day to own | Ratio |
|---|---|---|
| Bonus shares | 29/04/2024 | 30.00% in shares |
| Split | 02/05/2022 | 13 for 10 |
| Split | 03/05/2021 | 29 for 26 |
| Split | 03/08/2020 | 25 for 24 |
| Split | 27/12/2013 | 17 for 13 |
| Split | 02/05/2013 | 35 for 31 |
| Split | 30/04/2012 | 5 for 4 |
| Split | 30/04/2010 | 11 for 10 |
| Share consolidation | 01/06/2007 | 1 for 500 |
About Cia Energetica De Minas Gerais - Cemig
- Sector
- Energia
- Segment
- Energia Elétrica
- Listing segment
- Level 1
- Tag along
- Set by the bylaws
- Free float
- 80.11%
- Shares issued
- 956.6m ordinary · 1.91bn preferred
- Average daily trading
- R$151.1m
- Ibovespa weight
- 0.78%
- Listed since
- 14/01/1972
- CNPJ
- 17.155.730/0001-64
A Companhia Energética de Minas Gerais S.A. (Cemig) é uma empresa brasileira do setor de energia, fundada em 1952 e listada na B3 sob os tickers CMIG3 e CMIG4. A companhia atua de forma integrada no setor elétrico e também possui participação em distribuição de gás natural em Minas Gerais. As operações da Cemig abrangem geração, transmissão, distribuição e comercialização de energia elétrica por meio de controladas e coligadas. O grupo também desenvolve atividades em soluções energéticas e serviços associados ao consumo e à eficiência energética. No ambiente competitivo brasileiro, a Cemig está entre os grupos tradicionais de energia com base relevante de ativos regulados e concessões de longo prazo. A companhia concorre com grandes grupos privados e estatais em distribuição, transmissão e comercialização de energia. A empresa tem sede em Belo Horizonte e presença operacional em diferentes estados, com maior concentração em Minas Gerais. Sua escala inclui milhares de empregados, extensa rede de distribuição e ativos de transmissão e geração de grande porte no Sistema Interligado Nacional.
Investor website| Shareholder | Ordinary | Preferred | Total |
|---|---|---|---|
| FIA Dinâmica Energia | 32.82% | 10.01% | 17.63% |
| Estado de Minas Gerais (Casa Civil)Controlling | 50.97% | 0.00% | 17.04% |
| BLACKROCK, INC. | 0.00% | 10.01% | 6.66% |
| BNDES Participações S.A. | 11.15% | 0.00% | 3.73% |
| Pzena Investment Management, LLC | 0.00% | 5.00% | 3.33% |
| Outros | 5.07% | 74.93% | 51.58% |
| Ações Tesouraria | 0.00% | 0.06% | 0.04% |
Questions about CMIG4
How much is CMIG4 today?
CMIG4 is at R$11.16 (1.82% on the day), last traded on 30/09/2026.
How much did CMIG4 pay in dividends in 2025?
CMIG4 paid R$1.40 per share in 2025, a dividend yield of 12.53%.
When is the next CMIG4 dividend?
The next announced payment is R$0.12 per share on 30/12/2026.
What are the P/E and P/B of CMIG4?
CMIG4 trades at a P/E of 6.95 and a P/B of 1.09.
How much did CMIG4 return in 12 months?
CMIG4 returned 8.66% in 12 months, with annualised volatility of 18.05% and a largest drawdown of -13.03%.
What sector is CMIG4 in?
Cia Energetica De Minas Gerais - Cemig is in the Energia sector, Energia Elétrica segment.