B3 · BRL

ISAE4

Isa Energia Brasil SA Non-Cum Perp Pfd Registered Shs

R$27.66+3.56% (R$0.95)Updated 01/10/2026, 13:10

Day's range: R$26.88 – R$27.72
Day's volume: R$976.8m
52-week range: R$23.73 – R$32.19

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ISAE4 in numbers

Market cap: R$21bn

P/E: 6.91

P/B: 0.88

Dividend yield (12m): 6.69%

Net debt/EBITDA: 6.32

The 12-month dividend yield of ISAE4 is 6.69%, below its 5-year average of 10.31%.

ISAE4 price history

01/10/202501/10/2026

Compare with

ISAE4 risk and return

Monthly closes adjusted for splits and distributions.

Metric	12 months	36 months	60 months
Return	+16.92%	+48.88%	+59.44%
Volatility (annualised)	16.79%	20.78%	18.65%
Largest drawdown	-9.76%	-13.17%	-16.44%
Positive months	9/12	21/36	31/60

How much did investing in ISAE4 return?

Amount invested

R$1,000.00 invested on 01/10/2021 would be worth R$1,634.62 today.

Value today in ISAE4: R$1,634.62

Return over the period: +63.46%

Return per year: +10.33%

In the Ibovespa: R$1,794.17

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

ISAE4 fundamentals

Valuation

P/E
6.91
P/B
0.88
EV/EBITDA
10.34
EV/EBIT
10.42
EV/Revenue
5.05
P/EBIT
4.05
P/S
1.96
P/OCF
-16.87
P/FCF
-30.86
Earnings yield
9.60%
PEG ratio
—
Earnings per share
R$4.01
Book value per share
R$31.51

Debt

Net debt
R$32.9bn
Net debt/EBITDA
6.32
Net debt/Equity
1.46
Debt/Equity
1.54
Current ratio
5.28
Quick ratio
5.22
Cash ratio
1.29

Efficiency

Gross margin
45.82%
EBITDA margin
48.78%
Operating margin
48.44%
Net margin
26.95%
Asset turnover
0.21

Profitability

ROE
12.71%
ROA
5.76%
ROIC
7.90%
Payout
46.20%

Growth

Revenue CAGR (5 years)
21.86%
Earnings CAGR (5 years)
-4.37%
Revenue growth (year)
18.13%
Earnings growth (year)
-30.03%
Revenue growth (quarter)
30.64%
Earnings growth (quarter)
-13.25%

What is ISAE4's fair price?

Two classic value formulas, with today's numbers. The current price is R$27.66.

Graham's fair price: R$53.29; 92.65% above the price

√(22.50 × R$4.01 × R$31.51)

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$43.63; 57.74% above the price

R$2.62 (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.

ISAE4 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	7.41	4.33	6.15	6.70	5.28	5.45	8.44	24.22
P/B	0.85	0.76	0.98	0.92	1.08	1.30	1.08	4.03
EV/EBITDA	11.32	7.26	8.44	7.92	6.08	5.29	7.37	20.00
Dividend yield	19.60%	9.58%	4.01%	0.76%	17.59%	3.83%	5.96%	72.66%
Earnings per share	R$3.72	R$5.31	R$4.31	R$3.43	R$4.58	R$5.10	R$2.68	R$2.86
Book value per share	R$32.54	R$30.46	R$27.00	R$25.10	R$22.45	R$21.44	R$20.89	R$17.15
ROE	11.42%	17.43%	15.97%	13.68%	20.41%	23.80%	12.81%	16.65%
ROIC	7.39%	10.30%	10.80%	10.34%	13.62%	18.38%	11.86%	13.34%
Gross margin	39.35%	46.91%	59.67%	60.17%	74.48%	69.27%	71.19%	77.23%
EBITDA margin	44.27%	64.88%	63.83%	64.54%	80.59%	120.31%	71.44%	77.50%
Net margin	26.01%	43.91%	45.71%	41.50%	54.55%	90.94%	53.33%	59.09%
Net debt/EBITDA	6.97	4.33	4.04	3.61	2.51	1.17	1.07	1.53

ISAE4 financial statements

Line	2025	2024	2023	2022	2021	2020
Net revenue	R$9.4bn	R$8bn	R$6.2bn	R$5.5bn	R$5.5bn	R$3.7bn
Cost of sales	-R$5.7bn	-R$4.2bn	-R$2.5bn	-R$2.2bn	-R$1.4bn	-R$1.1bn
Gross profit	R$3.7bn	R$3.7bn	R$3.7bn	R$3.3bn	R$4.1bn	R$2.6bn
EBITDA	R$4.2bn	R$5.2bn	R$4bn	R$3.5bn	R$4.5bn	R$4.4bn
EBIT	R$4.1bn	R$5.1bn	R$3.9bn	R$3.5bn	R$4.4bn	R$4.4bn
Net finance result	-R$1.4bn	-R$962.6m	-R$821.6m	-R$812.2m	-R$631m	-R$209.2m
Profit before tax	R$2.8bn	R$4.2bn	R$3.1bn	R$2.7bn	R$3.8bn	R$4.2bn
Income tax	-R$269.3m	-R$615.9m	-R$228.6m	-R$358.3m	-R$768.4m	-R$835.4m
Net income	R$2.4bn	R$3.5bn	R$2.8bn	R$2.3bn	R$3bn	R$3.4bn

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

ISAE4 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
ISAE4Energia Brasil S.a	6.91	0.88	6.69%	12.71%	R$21bn
AXIA3AXIA3	13.39	1.32	3.41%	9.86%	R$159.1bn
AXIA7AXIA7	—	—	0.00%	—	R$159.1bn
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
EQTL3EQUATORIAL S.A.	53.42	1.96	3.89%	3.67%	R$51.2bn

Does ISAE4 pay dividends?

Announced payments
Type	Last day to own	Payment	Per share
Interest on equity	25/11/2026	07/12/2026	R$0.19
Interest on equity	09/11/2026	07/12/2026	R$0.19
Interest on equity	08/10/2026	07/12/2026	R$0.19

Dividend yield per year

23.15%2017
72.66%2018
5.96%2019
3.83%2020
17.59%2021
0.76%2022
4.01%2023
9.58%2024
19.60%2025
4.26%2026

Payment history
Type	Last day to own	Payment	Per share
Dividend	17/04/2026	29/04/2026	R$0.14
Dividend	02/04/2026	29/04/2026	R$0.14
Dividend	12/03/2026	29/04/2026	R$0.14
Interest on equity	26/02/2026	31/03/2026	R$0.25
Interest on equity	29/01/2026	25/02/2026	R$0.25
Interest on equity	29/12/2025	28/01/2026	R$0.25
Interest on equity	17/12/2025	30/12/2025	R$0.22
Interest on equity	24/11/2025	12/12/2025	R$0.22
Interest on equity	30/10/2025	28/11/2025	R$0.22
Interest on equity	11/03/2025	21/03/2025	R$0.79
Interest on equity	11/02/2025	21/02/2025	R$0.79
Interest on equity	10/01/2025	21/01/2025	R$0.79

See all 77 distributions

Earlier distributions
Type	Last day to own	Payment	Per share
Interest on equity	09/01/2025	21/01/2025	R$2.36
Interest on equity	13/12/2023	10/04/2024	R$1.96
Interest on equity	13/12/2023	15/01/2024	R$0.24
Interest on equity	26/12/2022	11/04/2023	R$1.06
Interest on equity	22/12/2021	17/01/2022	R$0.17
Dividend	03/11/2021	16/11/2021	R$0.53
Interest on equity	03/11/2021	16/11/2021	R$0.78
Dividend	06/07/2021	15/07/2021	R$0.50
Dividend	30/03/2021	21/05/2021	R$0.80
Dividend	25/02/2021	21/05/2021	R$0.81
Dividend	16/12/2020	18/01/2021	R$0.18
Interest on equity	16/12/2020	18/01/2021	R$0.66
Dividend	04/11/2020	13/11/2020	R$0.52
Dividend	06/07/2020	16/07/2020	R$0.15
Interest on equity	16/04/2020	29/04/2020	R$0.23
Interest on equity	13/12/2019	20/01/2020	R$0.16
Interest on equity	08/11/2019	03/12/2019	R$0.34
Dividend	08/11/2019	03/12/2019	R$0.45
Interest on equity	02/08/2019	19/08/2019	R$0.56
Interest on equity	06/12/2018	17/12/2018	R$3.59
Dividend	06/12/2018	17/12/2018	R$3.84
Dividend	05/06/2018	18/06/2018	R$4.62
Dividend	17/04/2018	15/06/2018	R$0.51
Dividend	17/11/2017	28/11/2017	R$2.22
Dividend	01/06/2017	13/06/2017	R$0.82
Dividend	02/12/2016	20/01/2017	R$0.83
Dividend	21/06/2016	30/06/2016	R$0.67
Dividend	25/11/2015	07/12/2015	R$1.39
Dividend	05/05/2015	29/06/2015	R$0.19
Dividend	25/05/2015	07/06/2015	R$0.69
Dividend	21/11/2014	04/12/2014	R$1.02
Interest on equity	11/08/2014	28/08/2014	R$0.20
Dividend	31/03/2014	31/03/2014	R$0.20
Interest on equity	20/12/2013	22/12/2013	R$1.31
Dividend	28/06/2012	28/06/2012	R$0.64
Interest on equity	28/06/2012	28/06/2012	R$0.42
Dividend	13/04/2012	15/04/2012	R$0.21
Dividend	13/04/2012	15/04/2012	R$0.33
Interest on equity	13/01/2012	15/01/2012	R$0.42
Dividend	13/01/2012	15/01/2012	R$1.11
Interest on equity	07/10/2011	09/10/2011	R$0.40
Dividend	07/10/2011	09/10/2011	R$1.14
Interest on equity	05/07/2011	05/07/2011	R$0.42
Dividend	05/07/2011	05/07/2011	R$1.06
Dividend	28/04/2011	28/04/2011	R$0.11
Interest on equity	05/04/2011	05/04/2011	R$0.43
Dividend	05/04/2011	05/04/2011	R$1.19
Interest on equity	13/01/2011	13/01/2011	R$0.42
Dividend	13/01/2011	13/01/2011	R$0.74
Interest on equity	06/10/2010	06/10/2010	R$0.42
Dividend	06/10/2010	06/10/2010	R$0.96
Interest on equity	06/07/2010	06/07/2010	R$0.41
Dividend	06/07/2010	06/07/2010	R$0.42
Dividend	03/05/2010	03/05/2010	R$0.51
Interest on equity	07/04/2010	07/04/2010	R$0.41
Dividend	07/04/2010	07/04/2010	R$0.86
Dividend	08/01/2010	10/01/2010	R$1.07
Interest on equity	14/12/2009	14/12/2009	R$0.41
Interest on equity	05/10/2009	05/10/2009	R$0.41
Dividend	05/10/2009	05/10/2009	R$0.69
Dividend	03/07/2009	05/07/2009	R$0.41
Interest on equity	19/06/2009	21/06/2009	R$0.43
Dividend	14/04/2009	14/04/2009	R$0.71
Interest on equity	09/04/2009	12/04/2009	R$0.42
Dividend	09/01/2009	11/01/2009	R$0.82

Splits, share consolidations and bonus shares
Event	Last day to own	Ratio
Split	05/04/2019	4 for 1
Share consolidation	14/08/2007	1 for 1000

About Energia Brasil S.a

Sector: Energia
Segment: Energia Elétrica
Listing segment: Level 1
Tag along: Set by the bylaws
Free float: 66.45%
Shares issued: 238.17m ordinary · 465.16m preferred
Average daily trading: R$104.8m
Ibovespa weight: 0.49%
Listed since: 26/07/1999
CNPJ: 02.998.611/0001-04

A ISA CTEEP atua na transmissão de energia elétrica no Brasil, operando ativos de alta tensão e instalações associadas para escoamento de energia entre geradores, distribuidoras e grandes consumidores. A companhia é uma das principais concessionárias do segmento, com presença relevante no Sistema Interligado Nacional. O portfólio inclui linhas de transmissão, subestações e projetos de expansão obtidos em leilões regulados, com receitas predominantemente ligadas à Receita Anual Permitida (RAP) dos contratos de concessão. O modelo de negócio é intensivo em infraestrutura, planejamento de longo prazo e execução de investimentos. No mercado de capitais, a empresa é listada na B3 e integra o setor de energia no segmento de energia elétrica. A operação combina gestão técnica dos ativos, cumprimento regulatório e alocação de capital para manutenção, reforço e expansão da rede de transmissão.

Investor website

ShareholdersAs of 31/12/2026, from the Formulário de Referência filed with the CVM.
Shareholder	Ordinary	Preferred	Total
Isa Capital do Brasil S.A.Controlling	96.93%	1.11%	33.56%
AXIA ENERGIA S.A.	2.23%	25.31%	17.49%
AXIA ENERGIA S.A.	0.01%	2.84%	1.88%
Outros	0.83%	70.75%	47.07%

Questions about ISAE4

How much is ISAE4 today?

ISAE4 is at R$27.66 (3.56% on the day), last traded on 01/10/2026.

How much did ISAE4 pay in dividends in 2025?

ISAE4 paid R$5.40 per share in 2025, a dividend yield of 19.60%.

When is the next ISAE4 dividend?

The next announced payment is R$0.19 per share on 07/12/2026.

What are the P/E and P/B of ISAE4?

ISAE4 trades at a P/E of 6.91 and a P/B of 0.88.

How much did ISAE4 return in 12 months?

ISAE4 returned 16.92% in 12 months, with annualised volatility of 16.79% and a largest drawdown of -9.76%.

What sector is ISAE4 in?

Energia Brasil S.a is in the Energia sector, Energia Elétrica segment.