Create a free account

B3 · BRL

COCE3

Companhia Energetica do Ceara-COELCE

R$29.41-9.51% (-R$3.09)
Day's range
R$29.41 – R$30.00
Day's volume
R$32.4K
52-week range
R$28.21 – R$48.80

Follow COCE3 in the Fuolio

See how COCE3 weighs in your net worth, what it has paid you and how far it is from your target allocation.

Create a free account

COCE3 in numbers

Market cap
R$2.6B
P/E
6.01
P/B
0.45
Dividend yield (12m)
0.81%
Net debt/EBITDA
3.88

The 12-month dividend yield of COCE3 is 0.81%, below its 5-year average of 3.57%.

COCE3 price history

10/01/202509/30/2026
Compare with

COCE3 risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return-7.51%-36.28%-39.77%
Volatility (annualized)59.62%43.77%34.97%
Largest drawdown-39.62%-50.06%-56.14%
Positive months5/1214/3621/60

How much did investing in COCE3 return?

R$1,000.00 invested on 09/01/2021 would be worth R$570.75 today.

Value today in COCE3
R$570.75
Return over the period
-42.93%
Return per year
-10.61%
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.

COCE3 fundamentals

Valuation

  • P/E
    6.01
  • P/B
    0.45
  • EV/EBITDA
    5.08
  • EV/EBIT
    6.89
  • EV/Revenue
    1.14
  • P/EBIT
    1.63
  • P/S
    0.27
  • P/OCF
    2.03
  • P/FCF
    -2.89
  • Earnings yield
    14.52%
  • PEG ratio
    0.67
  • Earnings per share
    R$4.90
  • Book value per share
    R$64.90

Debt

  • Net debt
    R$8.4B
  • Net debt/EBITDA
    3.88
  • Net debt/Equity
    1.50
  • Debt/Equity
    1.59
  • Current ratio
    0.56
  • Quick ratio
    0.56
  • Cash ratio
    0.09

Efficiency

  • Gross margin
    20.52%
  • EBITDA margin
    22.37%
  • Operating margin
    16.51%
  • Net margin
    4.36%
  • Asset turnover
    0.55

Profitability

  • ROE
    7.54%
  • ROA
    2.41%
  • ROIC
    10.55%
  • Payout
    4.89%

Growth

  • Revenue CAGR (5 years)
    8.50%
  • Earnings CAGR (5 years)
    -0.48%
  • Revenue growth (year)
    8.65%
  • Earnings growth (year)
    -15.26%
  • Revenue growth (quarter)
    9.57%
  • Earnings growth (quarter)
    8.90%

What is COCE3's fair price?

Two classic value formulas, with today's numbers. The current price is R$29.41.

Graham's fair price
R$84.55
187.49% above the price

√(22.50 × R$4.90 × R$64.90)

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$27.16
7.65% below the price

R$1.63 (5-year average) ÷ 6%

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

Graham ignores growth and debt; Bazin assumes past distributions repeat. They are references to compare, not a buy recommendation.

COCE3's indicators by year

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

Indicator20252024202320222021202020192018
P/E7.124.3612.347.019.3921.3110.008.12
P/B0.510.390.931.141.321.751.301.03
EV/EBITDA5.644.847.436.527.5213.339.067.60
Dividend yield4.16%3.57%0.62%3.37%6.14%2.93%3.60%2.87%
Earnings per shareR$4.57R$5.97R$4.05R$8.23R$6.28R$3.41R$5.20R$4.68
Book value per shareR$63.28R$66.02R$53.83R$50.82R$44.79R$41.49R$40.00R$36.77
ROE7.21%9.05%7.53%16.19%14.01%8.21%13.00%12.73%
ROIC9.49%9.48%6.34%9.65%8.25%4.04%7.00%7.69%
Gross margin19.33%19.01%18.58%16.77%16.31%12.67%14.08%13.00%
EBITDA margin21.61%22.26%20.74%19.06%15.54%12.04%15.53%14.17%
Net margin4.30%5.51%3.66%7.48%6.02%4.52%7.53%7.14%
Net debt/EBITDA4.233.765.263.773.885.334.213.51

COCE3's financial statements

Line202520242023202220212020
Net revenueR$9.2BR$8.4BR$8.6BR$8.6BR$8.1BR$5.9B
Cost of revenue-R$7.4B-R$6.8B-R$7B-R$7.1B-R$6.8B-R$5.1B
Gross profitR$1.8BR$1.6BR$1.6BR$1.4BR$1.3BR$743.1M
EBITDAR$2BR$1.9BR$1.8BR$1.6BR$1.3BR$706.5M
EBITR$1.4BR$1.2BR$1.2BR$1.2BR$919.2MR$393.3M
Financial result-R$965.3M-R$737.8M-R$790.4M-R$420.4M-R$269M-R$24.6M
Income before taxR$413.7MR$495.6MR$456.5MR$804.6MR$650.2MR$368.7M
Income tax-R$19.7M-R$30.7M-R$141M-R$164M-R$161.6M-R$103.5M
Net incomeR$394MR$464.9MR$315.5MR$640.6MR$488.6MR$265.2M

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

COCE3 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
COCE3Cia Energetica Do Ceara - Coelce6.010.450.81%7.54%R$2.6B
AXIA3AXIA313.391.323.41%9.86%R$159B
AXIA7AXIA7——0.00%—R$159B
SBSP3CIA SANEAMENTO BASICO EST SAO PAULO12.062.1512.68%17.80%R$96.7B
ENEV3ENEVA S.A56.292.660.00%4.73%R$54.2B
CPFE3CPFL ENERGIA S.A.8.732.318.20%26.43%R$52.4B
EQTL3EQUATORIAL S.A.53.421.963.89%3.67%R$51.2B

Does COCE3 pay dividends?

Announced payments
TypeLast day to ownPaymentPer share
Dividend04/29/202612/31/2026R$0.24

Dividend yield per year

  • 4.09%2017
  • 2.87%2018
  • 3.60%2019
  • 2.93%2020
  • 6.14%2021
  • 3.37%2022
  • 0.62%2023
  • 3.57%2024
  • 4.16%2025
  • 0.00%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend04/29/202512/23/2025R$1.35
Dividend04/30/202412/23/2024R$0.93
Dividend04/25/202312/20/2023R$0.31
Dividend04/12/202212/16/2022R$0.18
Interest on equity10/13/202212/01/2022R$0.54
Interest on equity07/01/202212/01/2022R$1.22
Dividend04/26/202112/27/2021R$2.11
Interest on equity10/29/202111/29/2021R$1.50
Dividend04/28/202012/18/2020R$2.12
Dividend04/29/201912/10/2019R$1.87
Dividend04/26/201812/11/2018R$1.09
Dividend04/25/201712/12/2017R$1.99
See all 54 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend04/27/201612/15/2016R$0.93
Dividend04/27/201512/10/2015R$0.54
Dividend04/16/201412/10/2014R$0.99
Dividend04/29/201312/10/2013R$2.75
Dividend04/25/201212/27/2012R$3.55
Dividend04/29/201112/09/2011R$4.27
Dividend04/28/201012/10/2010R$2.74
Dividend04/30/200909/30/2009R$3.38
Interest on equity11/28/200605/31/2007R$0.37
Interest on equity04/27/200605/31/2006R$0.17
Interest on equity12/21/200501/16/2006R$0.39
Interest on equity04/28/200506/24/2005R$0.18
Dividend04/28/200506/24/2005R$0.04
Dividend04/29/200406/28/2004R$0.10
Interest on equity03/26/200404/07/2004R$0.12
Dividend12/16/200312/29/2003R$0.12
Interest on equity08/20/200309/05/2003R$0.22
Interest on equity04/29/200306/27/2003R$0.34
Dividend04/29/200305/26/2003R$0.16
Interest on equity04/26/200206/25/2002R$0.27
Dividend04/26/200206/25/2002R$0.21
Interest on equity08/01/200109/28/2001R$0.16
Interest on equity04/30/200106/29/2001R$0.00
Dividend04/30/200106/29/2001R$0.23
Dividend04/28/2008—R$0.79
Dividend04/28/2008—R$1.57
Dividend04/30/2007—R$0.45
Dividend04/30/2007—R$0.54
Dividend04/27/2006—R$0.44
Dividend04/27/2006—R$0.47
Other04/29/2003—R$0.24
Other04/26/2002—R$0.24
Other04/30/2001—R$0.19
Interest on equity11/10/2000—R$0.15
Interest on equity08/15/2000—R$0.07
Interest on equity04/25/2000—R$0.07
Dividend04/04/2000—R$0.01
Other04/04/2000—R$0.13
Interest on equity01/19/2000—R$0.06
Interest on equity11/12/1999—R$0.24
Dividend04/06/1999—R$0.08
Interest on equity02/09/1999—R$0.08
Splits, reverse splits and bonus shares
EventLast day to ownRatio
Reverse split06/04/20071 for 2
Reverse split06/01/20070.0005 for 1
Split04/29/200332 for 31
Split04/05/200017 for 10

About Cia Energetica Do Ceara - Coelce

Sector
Energia
Segment
Energia Elétrica
Listing segment
Traditional
Tag along
80.00%
Free float
23.55%
Shares issued
53.4M common · 32.9M preferred
Average daily trading
R$19.6K
Listed since
10/09/1995
CNPJ
07.047.251/0001-70

A Companhia Energética do Ceará, listada na B3 sob o ticker COCE3 e operando comercialmente como Enel Distribuição Ceará, é concessionária de distribuição de energia elétrica em todo o estado do Ceará. A empresa atende milhões de unidades consumidoras e administra uma malha extensa de linhas, subestações e ativos de suporte ao fornecimento regulado de energia. O desempenho operacional está ligado a indicadores de continuidade, perdas, execução de investimentos e qualidade de atendimento sob supervisão da ANEEL e da agência reguladora estadual. O resultado financeiro é sensível a reajustes tarifários, custos de compra de energia e evolução da demanda regional. Como companhia aberta controlada por grupo internacional, divulga periodicamente resultados e eventos relevantes ao mercado.

Investor website
ShareholdersAs of 12/31/2026, from the Formulário de Referência filed with the CVM.
ShareholderCommonPreferredTotal
Enel Brasil S.A.Controlling98.12%42.29%77.04%
Centrais Elétricas Brasileiras S.A.0.05%16.99%6.45%
BANCARD INVERSIONES LIMITADA0.00%10.77%4.07%
FOURTH SAIL LONG SHORT LLC0.00%6.41%2.42%
UNA CAPITAL LTDA0.00%5.26%1.99%
FOURTH SAIL DISCOVERY LLC0.00%2.31%0.87%
Outros1.83%15.97%7.17%

Questions about COCE3

How much is COCE3 today?

COCE3 is at R$29.41 (-9.51% on the day), last traded on 09/30/2026.

How much did COCE3 pay in dividends in 2025?

COCE3 paid R$1.35 per share in 2025, a dividend yield of 4.16%.

When is the next COCE3 dividend?

The next announced payment is R$0.24 per share on 12/31/2026.

What are the P/E and P/B of COCE3?

COCE3 trades at a P/E of 6.01 and a P/B of 0.45.

How much did COCE3 return in 12 months?

COCE3 returned -7.51% in 12 months, with annualized volatility of 59.62% and a largest drawdown of -39.62%.

What sector is COCE3 in?

Cia Energetica Do Ceara - Coelce is in the Energia sector, Energia Elétrica segment.