B3 · BRL

TAEE11

Transmissora Alianca De Energia Eletrica S.A. Unit

R$41.84+0.07% (R$0.03)Updated 01/10/2026, 19:23

Day's range: R$41.33 – R$42.07
Day's volume: R$97.1m
52-week range: R$35.59 – R$46.11

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TAEE11 in numbers

Market cap: R$14.4bn

P/E: 8.87

P/B: 1.79

Dividend yield (12m): 7.19%

Net debt/EBITDA: 7.12

The 12-month dividend yield of TAEE11 is 7.19%, below its 5-year average of 10.43%.

TAEE11 price history

02/10/202501/10/2026

Compare with

TAEE11 risk and return

Monthly closes adjusted for splits and distributions.

Metric	12 months	36 months	60 months
Return	+18.04%	+59.48%	+83.24%
Volatility (annualised)	20.28%	16.48%	17.30%
Largest drawdown	-8.19%	-8.19%	-14.74%
Positive months	7/12	20/36	33/60

How much did investing in TAEE11 return?

Amount invested

R$1,000.00 invested on 01/09/2021 would be worth R$1,873.01 today.

Value today in TAEE11: R$1,873.01

Return over the period: +87.30%

Return per year: +13.37%

In the Ibovespa: R$1,679.06

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

TAEE11 fundamentals

Valuation

P/E
8.87
P/B
1.79
EV/EBITDA
11.92
EV/EBIT
12.26
EV/Revenue
7.96
P/EBIT
4.93
P/S
3.20
P/OCF
8.43
P/FCF
8.08
Earnings yield
8.16%
PEG ratio
—
Earnings per share
R$4.72
Book value per share
R$23.43

Debt

Net debt
R$21.3bn
Net debt/EBITDA
7.12
Net debt/Equity
2.64
Debt/Equity
2.71
Current ratio
3.48
Quick ratio
3.48
Cash ratio
0.63

Efficiency

Gross margin
60.76%
EBITDA margin
66.77%
Operating margin
64.89%
Net margin
36.25%
Asset turnover
0.20

Profitability

ROE
20.14%
ROA
7.16%
ROIC
9.09%
Payout
63.72%

Growth

Revenue CAGR (5 years)
2.68%
Earnings CAGR (5 years)
-9.75%
Revenue growth (year)
24.37%
Earnings growth (year)
-6.73%
Revenue growth (quarter)
3.75%
Earnings growth (quarter)
-9.26%

What is TAEE11's fair price?

Two classic value formulas, with today's numbers. The current price is R$41.84.

Graham's fair price: R$49.87; 19.20% above the price

√(22.50 × R$4.72 × R$23.43)

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$63.35; 51.42% above the price

R$3.80 (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.

TAEE11 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	27.55	20.05	29.00	24.67	16.94	15.25	32.04	22.77
P/B	5.72	4.89	5.94	5.44	5.61	5.73	6.52	5.33
EV/EBITDA	23.11	18.12	24.38	20.50	14.48	14.04	29.79	21.27
Dividend yield	7.03%	8.71%	9.96%	14.03%	12.41%	10.09%	6.09%	11.81%
Earnings per share	R$1.53	R$1.64	R$1.32	R$1.40	R$2.14	R$2.19	R$0.97	R$1.04
Book value per share	R$7.36	R$6.71	R$6.46	R$6.36	R$6.47	R$5.83	R$4.77	R$4.42
ROE	20.76%	24.41%	20.48%	22.06%	33.12%	37.55%	20.33%	23.43%
ROIC	8.84%	10.29%	9.16%	9.72%	15.04%	16.05%	8.15%	11.71%
Gross margin	55.07%	66.49%	63.10%	80.95%	81.31%	70.57%	68.02%	77.84%
EBITDA margin	60.54%	77.68%	69.99%	94.26%	99.59%	90.14%	79.01%	87.83%
Net margin	34.17%	45.56%	40.68%	55.39%	63.76%	63.54%	55.82%	65.51%
Net debt/EBITDA	7.56	6.36	7.52	6.00	3.64	3.28	7.15	4.29

TAEE11 financial statements

Line	2025	2024	2023	2022	2021	2020
Net revenue	R$4.6bn	R$3.7bn	R$3.4bn	R$2.6bn	R$3.5bn	R$3.6bn
Cost of sales	-R$2.1bn	-R$1.2bn	-R$1.2bn	-R$498.4m	-R$649m	-R$1bn
Gross profit	R$2.5bn	R$2.5bn	R$2.1bn	R$2.1bn	R$2.8bn	R$2.5bn
EBITDA	R$2.8bn	R$2.9bn	R$2.4bn	R$2.5bn	R$3.5bn	R$3.2bn
EBIT	R$2.7bn	R$2.9bn	R$2.3bn	R$2.4bn	R$3.4bn	R$3.2bn
Net finance result	-R$1bn	-R$1bn	-R$903.8m	-R$737.6m	-R$810.1m	-R$475.5m
Profit before tax	R$1.7bn	R$1.9bn	R$1.4bn	R$1.7bn	R$2.6bn	R$2.7bn
Income tax	-R$119m	-R$168.6m	-R$63.4m	-R$254.5m	-R$411.4m	-R$456.3m
Net income	R$1.6bn	R$1.7bn	R$1.4bn	R$1.4bn	R$2.2bn	R$2.3bn

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

TAEE11 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
TAEE11Transmissora Aliança De Energia Elétrica	8.87	1.79	7.19%	20.14%	R$14.4bn
TAEE4TRANSMISSORA ALIANÇA DE ENERGIA ELÉTRICA S.A.	8.90	1.79	7.16%	20.14%	R$14.4bn
TAEE3TRANSMISSORA ALIANÇA DE ENERGIA ELÉTRICA S.A.	8.74	1.76	7.29%	20.14%	R$14.4bn
LOGG3LOG COMMERCIAL PROPERTIES	5.83	0.62	27.71%	10.63%	R$2.2bn
PRNR3PRINER SERVIÇOS INDUSTRIAIS S.A.	24.33	2.23	0.00%	9.17%	R$1.1bn
MELK3MELNICK DESENVOLVIMENTO IMOBILIÁRIO S.A.	5.27	0.58	13.75%	10.91%	R$625m
AZEV3AZEVEDO E TRAVASSOS S.A.	-1.14	1.83	0.00%	-160.82%	R$343.9m

Does TAEE11 pay dividends?

Announced payments
Type	Last day to own	Payment	Per share
Interest on equity	14/08/2026	26/11/2026	R$0.36
Dividend	14/08/2026	26/11/2026	R$0.24

Dividend yield per year

8.27%2017
11.81%2018
6.09%2019
10.09%2020
12.41%2021
14.03%2022
9.96%2023
8.71%2024
7.03%2025
5.75%2026

Payment history
Type	Last day to own	Payment	Per share
Interest on equity	11/05/2026	26/08/2026	R$0.56
Dividend	29/04/2026	27/05/2026	R$0.15
Dividend	29/04/2026	27/05/2026	R$0.76
Dividend	14/11/2025	28/01/2026	R$0.52
Interest on equity	14/11/2025	28/01/2026	R$0.42
Dividend	18/08/2025	27/11/2025	R$0.23
Interest on equity	18/08/2025	27/11/2025	R$0.64
Dividend	29/04/2025	27/11/2025	R$0.32
Interest on equity	12/05/2025	27/08/2025	R$0.55
Dividend	29/04/2025	28/05/2025	R$0.55
Interest on equity	11/11/2024	29/01/2025	R$0.40
Dividend	11/11/2024	29/01/2025	R$0.27

See all 102 distributions

Earlier distributions
Type	Last day to own	Payment	Per share
Interest on equity	15/08/2024	27/11/2024	R$0.34
Dividend	15/08/2024	27/11/2024	R$0.31
Interest on equity	13/05/2024	27/06/2024	R$0.42
Dividend	03/05/2024	16/05/2024	R$1.13
Dividend	03/01/2024	16/01/2024	R$0.66
Dividend	13/11/2023	15/12/2023	R$0.01
Interest on equity	13/11/2023	15/12/2023	R$0.58
Interest on equity	07/08/2023	29/08/2023	R$0.63
Dividend	07/08/2023	29/08/2023	R$0.28
Interest on equity	07/08/2023	29/08/2023	R$0.28
Dividend	07/08/2023	29/08/2023	R$0.63
Dividend	03/05/2023	29/08/2023	R$0.08
Dividend	10/01/2023	23/01/2023	R$1.34
Dividend	14/11/2022	05/12/2022	R$0.13
Dividend	14/11/2022	05/12/2022	R$0.33
Interest on equity	14/11/2022	05/12/2022	R$0.60
Dividend	15/08/2022	26/08/2022	R$0.90
Interest on equity	15/08/2022	26/08/2022	R$0.57
Dividend	09/05/2022	31/05/2022	R$2.32
Interest on equity	06/12/2021	29/12/2021	R$0.59
Dividend	06/12/2021	29/12/2021	R$0.93
Dividend	04/05/2021	31/05/2021	R$1.63
Interest on equity	18/05/2021	27/05/2021	R$0.19
Dividend	18/05/2021	27/05/2021	R$1.17
Dividend	15/12/2020	28/12/2020	R$0.16
Interest on equity	15/12/2020	28/12/2020	R$0.16
Interest on equity	16/11/2020	25/11/2020	R$0.17
Dividend	16/11/2020	25/11/2020	R$1.19
Dividend	17/08/2020	26/08/2020	R$0.64
Interest on equity	17/08/2020	26/08/2020	R$0.17
Dividend	19/05/2020	28/05/2020	R$0.52
Interest on equity	19/05/2020	28/05/2020	R$0.18
Dividend	06/05/2020	15/05/2020	R$0.18
Interest on equity	16/12/2019	27/12/2019	R$0.18
Interest on equity	19/11/2019	29/11/2019	R$0.19
Dividend	19/11/2019	29/11/2019	R$0.35
Dividend	08/08/2019	19/08/2019	R$0.52
Interest on equity	08/08/2019	19/08/2019	R$0.20
Dividend	17/05/2019	28/05/2019	R$0.05
Interest on equity	17/05/2019	28/05/2019	R$0.23
Dividend	03/05/2019	14/05/2019	R$0.17
Interest on equity	17/12/2018	28/12/2018	R$0.40
Dividend	09/11/2018	22/11/2018	R$0.71
Interest on equity	09/08/2018	20/08/2018	R$0.21
Dividend	09/08/2018	20/08/2018	R$0.27
Interest on equity	14/05/2018	23/05/2018	R$0.19
Dividend	14/05/2018	23/05/2018	R$0.55
Dividend	02/05/2018	11/05/2018	R$0.46
Interest on equity	18/12/2017	28/12/2017	R$0.27
Interest on equity	16/11/2017	30/11/2017	R$0.14
Dividend	16/11/2017	30/11/2017	R$0.13
Dividend	16/08/2017	31/08/2017	R$0.00
Interest on equity	16/08/2017	31/08/2017	R$0.20
Dividend	22/05/2017	31/05/2017	R$0.29
Interest on equity	22/05/2017	31/05/2017	R$0.23
Dividend	04/05/2017	12/05/2017	R$0.51
Dividend	18/04/2016	31/12/2016	R$0.94
Dividend	23/11/2016	05/12/2016	R$0.12
Interest on equity	23/11/2016	05/12/2016	R$0.43
Dividend	17/08/2016	29/08/2016	R$0.51
Interest on equity	17/08/2016	29/08/2016	R$0.07
Dividend	24/05/2016	03/06/2016	R$0.27
Interest on equity	24/05/2016	03/06/2016	R$0.37
Dividend	18/04/2016	28/04/2016	R$2.39
Interest on equity	18/12/2015	30/12/2015	R$0.24
Dividend	18/12/2015	30/12/2015	R$0.32
Interest on equity	17/09/2015	30/09/2015	R$0.47
Dividend	17/09/2015	29/09/2015	R$0.43
Dividend	22/04/2015	30/04/2015	R$0.43
Dividend	22/04/2015	29/04/2015	R$0.74
Interest on equity	04/12/2014	16/12/2014	R$0.57
Dividend	26/09/2014	06/10/2014	R$1.16
Dividend	30/04/2014	28/05/2014	R$1.20
Interest on equity	12/12/2013	20/12/2013	R$0.55
Dividend	12/12/2013	20/12/2013	R$0.61
Dividend	30/04/2013	10/06/2013	R$1.04
Dividend	18/12/2012	27/12/2012	R$0.46
Dividend	27/04/2012	31/10/2012	R$0.62
Dividend	27/04/2012	31/10/2012	R$4.88
Dividend	27/04/2011	—	R$4.64
Dividend	27/04/2011	—	R$3.80
Dividend	08/11/2010	—	R$1.21
Dividend	16/10/2009	—	R$3.44
Dividend	10/03/2009	—	R$0.10
Dividend	30/07/2008	—	R$0.96
Interest on equity	10/03/2008	—	R$0.14
Dividend	10/03/2008	—	R$0.62
Dividend	08/08/2007	—	R$1.21
Interest on equity	08/08/2007	—	R$0.20
Dividend	21/03/2007	—	R$1.07

Splits, share consolidations and bonus shares
Event	Last day to own	Ratio
Split	04/12/2012	3 for 1

About Transmissora Aliança De Energia Elétrica

Sector: Energia
Segment: Energia Elétrica
Listing segment: Level 2
Tag along: Set by the bylaws
Free float: 63.45%
Shares issued: 590.71m ordinary · 442.78m preferred
Average daily trading: R$76.3m
Ibovespa weight: 0.35%
Listed since: 27/10/2006
CNPJ: 07.859.971/0001-30

A Transmissora Aliança de Energia Elétrica S.A. (Taesa), listada na B3 sob TAEE3, TAEE4 e TAEE11, é uma companhia brasileira focada em transmissão de energia elétrica. A empresa foi estruturada no fim da década de 2000 e concentra sua atuação em ativos de infraestrutura de transmissão. Seu negócio principal é a construção, operação e manutenção de linhas de transmissão e subestações em diferentes estados brasileiros. A receita é majoritariamente associada a contratos de concessão e à Receita Anual Permitida (RAP) regulada pela Aneel. No ambiente competitivo, a Taesa é uma das companhias privadas relevantes em transmissão no Brasil, ao lado de grupos como ISA e outros operadores setoriais. O perfil de negócio é de infraestrutura regulada de longo prazo, com foco em disponibilidade e desempenho operacional dos ativos. A companhia tem sede no Rio de Janeiro e portfólio de concessões distribuído por várias regiões do país. Sua escala inclui milhares de quilômetros de linhas e dezenas de subestações, com operação integrada ao Sistema Interligado Nacional.

Investor website

ShareholdersAs of 31/12/2026, from the Formulário de Referência filed with the CVM.
Shareholder	Ordinary	Preferred	Total
Companhia Energética de Minas GeraisControlling	36.97%	1.28%	21.68%
ISA Investimentos e Participações do Brasil S.A.Controlling	26.03%	0.00%	14.88%
Blackrock, Inc	0.00%	5.00%	2.14%
Outros	37.00%	93.72%	61.30%

Questions about TAEE11

How much is TAEE11 today?

TAEE11 is at R$41.84 (0.07% on the day), last traded on 01/10/2026.

How much did TAEE11 pay in dividends in 2025?

TAEE11 paid R$2.96 per share in 2025, a dividend yield of 7.03%.

When is the next TAEE11 dividend?

The next announced payment is R$0.36 per share on 26/11/2026.

What are the P/E and P/B of TAEE11?

TAEE11 trades at a P/E of 8.87 and a P/B of 1.79.

How much did TAEE11 return in 12 months?

TAEE11 returned 18.04% in 12 months, with annualised volatility of 20.28% and a largest drawdown of -8.19%.

What sector is TAEE11 in?

Transmissora Aliança De Energia Elétrica is in the Energia sector, Energia Elétrica segment.