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B3 · BRL

CSMG3

Companhia de Saneamento de Minas Gerais

R$56.31-1.09% (-R$0.62)
Day's range
R$56.31 – R$58.06
Day's volume
R$243.6M
52-week range
R$32.73 – R$67.82

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See how CSMG3 weighs in your net worth, what it has paid you and how far it is from your target allocation.

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CSMG3 in numbers

Market cap
R$21.4B
P/E
16.56
P/B
2.42
Dividend yield (12m)
3.54%
Net debt/EBITDA
5.08

The 12-month dividend yield of CSMG3 is 3.54%, below its 5-year average of 8.15%.

CSMG3 price history

10/01/202509/30/2026
Compare with

CSMG3 risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return+55.15%+367.62%+522.71%
Volatility (annualized)30.34%31.81%31.25%
Largest drawdown-13.95%-19.00%-23.21%
Positive months8/1226/3636/60

How much did investing in CSMG3 return?

R$1,000.00 invested on 09/01/2021 would be worth R$6,250.39 today.

Value today in CSMG3
R$6,250.39
Return over the period
+525.04%
Return per year
+44.28%
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.

CSMG3 fundamentals

Valuation

  • P/E
    16.56
  • P/B
    2.42
  • EV/EBITDA
    12.35
  • EV/EBIT
    18.80
  • EV/Revenue
    4.19
  • P/EBIT
    11.07
  • P/S
    2.46
  • P/OCF
    9.79
  • P/FCF
    -19.47
  • Earnings yield
    5.32%
  • PEG ratio
    —
  • Earnings per share
    R$3.40
  • Book value per share
    R$23.28

Debt

  • Net debt
    R$15B
  • Net debt/EBITDA
    5.08
  • Net debt/Equity
    1.69
  • Debt/Equity
    1.85
  • Current ratio
    1.21
  • Quick ratio
    1.18
  • Cash ratio
    0.52

Efficiency

  • Gross margin
    41.57%
  • EBITDA margin
    33.90%
  • Operating margin
    22.27%
  • Net margin
    14.88%
  • Asset turnover
    0.41

Profitability

  • ROE
    14.60%
  • ROA
    6.12%
  • ROIC
    6.73%
  • Payout
    58.62%

Growth

  • Revenue CAGR (5 years)
    9.05%
  • Earnings CAGR (5 years)
    6.00%
  • Revenue growth (year)
    5.74%
  • Earnings growth (year)
    7.50%
  • Revenue growth (quarter)
    7.35%
  • Earnings growth (quarter)
    -4.79%

What is CSMG3's fair price?

Two classic value formulas, with today's numbers. The current price is R$56.31.

Graham's fair price
R$42.21
25.05% below the price

√(22.50 × R$3.40 × R$23.28)

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$29.71
47.23% below the price

R$1.78 (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.

CSMG3's indicators by year

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

Indicator20252024202320222021202020192018
P/E11.806.015.657.079.007.6411.4213.48
P/B1.950.981.030.820.720.971.281.25
EV/EBITDA9.716.215.746.136.546.087.648.83
Dividend yield5.21%12.70%12.95%2.45%7.43%50.99%1.82%19.62%
Earnings per shareR$3.72R$3.46R$3.63R$2.22R$1.41R$2.15R$5.95R$4.57
Book value per shareR$22.56R$21.17R$19.92R$19.08R$17.78R$16.98R$53.20R$49.12
ROE16.50%16.36%18.21%11.63%7.95%12.65%11.19%9.29%
ROIC7.90%8.98%9.46%7.52%5.63%7.92%7.38%6.29%
Gross margin42.41%42.82%41.35%37.49%36.46%44.99%41.81%39.04%
EBITDA margin35.46%35.49%34.83%32.10%27.07%36.06%34.10%31.47%
Net margin17.00%16.72%18.63%13.65%9.12%15.28%14.63%12.22%
Net debt/EBITDA4.063.382.723.123.512.852.743.60

CSMG3's financial statements

Line202520242023202220212020
Net revenueR$8.3BR$7.9BR$7.4BR$6.2BR$5.9BR$5.3B
Cost of revenue-R$4.8B-R$4.5B-R$4.3B-R$3.9B-R$3.7B-R$2.9B
Gross profitR$3.5BR$3.4BR$3.1BR$2.3BR$2.1BR$2.4B
EBITDAR$3BR$2.8BR$2.6BR$2BR$1.6BR$1.9B
EBITR$2BR$2BR$1.8BR$1.3BR$846.8MR$1.3B
Financial result-R$257.9M-R$321.5M-R$2.9M-R$206.4M-R$192.3M-R$175.1M
Income before taxR$1.7BR$1.7BR$1.8BR$1BR$654.4MR$1.1B
Income tax-R$333.4M-R$356.1M-R$406.9M-R$202.6M-R$116.9M-R$288.8M
Net incomeR$1.4BR$1.3BR$1.4BR$843.4MR$537.6MR$816.5M

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

CSMG3 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
CSMG3Mg16.562.423.54%14.60%R$21.4B
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 CSMG3 pay dividends?

Announced payments
TypeLast day to ownPaymentPer share
Interest on equity09/21/202611/09/2026R$0.26

Dividend yield per year

  • 16.13%2017
  • 19.62%2018
  • 1.82%2019
  • 50.99%2020
  • 7.43%2021
  • 2.45%2022
  • 12.95%2023
  • 12.70%2024
  • 5.21%2025
  • 2.15%2026
Payment history
TypeLast day to ownPaymentPer share
Interest on equity06/23/202608/17/2026R$0.38
Dividend03/06/202606/30/2026R$0.00
Interest on equity12/22/202506/30/2026R$0.36
Interest on equity03/23/202605/11/2026R$0.47
Dividend12/16/202512/26/2025R$0.37
Interest on equity12/16/202512/26/2025R$0.16
Interest on equity09/22/202511/10/2025R$0.45
Interest on equity06/23/202508/11/2025R$0.43
Dividend03/26/202506/30/2025R$0.04
Interest on equity12/23/202406/30/2025R$0.37
Interest on equity03/05/202504/25/2025R$0.30
Dividend03/05/202504/25/2025R$0.18
See all 93 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Interest on equity09/17/202409/30/2024R$0.33
Dividend09/17/202409/30/2024R$0.03
Dividend03/25/202408/30/2024R$0.42
Dividend06/25/202408/19/2024R$0.07
Interest on equity06/25/202408/19/2024R$0.32
Interest on equity12/21/202306/28/2024R$0.24
Dividend03/25/202405/17/2024R$0.14
Interest on equity03/25/202405/17/2024R$0.31
Dividend04/26/202405/10/2024R$0.79
Dividend12/13/202312/28/2023R$0.98
Interest on equity09/21/202311/14/2023R$0.34
Interest on equity06/21/202308/14/2023R$0.34
Interest on equity03/22/202306/27/2023R$0.65
Interest on equity03/22/202305/16/2023R$0.35
Interest on equity09/20/202211/14/2022R$0.15
Interest on equity06/21/202208/12/2022R$0.14
Interest on equity03/22/202205/16/2022R$0.09
Dividend09/24/202111/19/2021R$0.15
Interest on equity09/24/202111/19/2021R$0.28
Interest on equity06/22/202108/16/2021R$0.15
Interest on equity03/02/202106/25/2021R$0.20
Interest on equity03/19/202105/18/2021R$0.17
Dividend11/19/202012/10/2020R$6.49
Interest on equity09/17/202011/16/2020R$0.50
Interest on equity06/18/202008/17/2020R$0.35
Interest on equity03/25/202006/26/2020R$0.67
Interest on equity03/20/202005/19/2020R$0.36
Interest on equity09/19/201911/18/2019R$0.41
Interest on equity09/24/201811/16/2018R$0.43
Interest on equity06/25/201808/17/2018R$0.41
Dividend05/07/201805/17/2018R$2.22
Interest on equity02/27/201805/17/2018R$0.36
Interest on equity03/26/201804/06/2018R$0.61
Dividend11/17/201711/30/2017R$0.95
Interest on equity09/22/201710/23/2017R$0.31
Interest on equity06/21/201708/11/2017R$0.29
Interest on equity03/16/201706/09/2017R$0.29
Interest on equity03/22/201705/15/2017R$0.25
Interest on equity11/16/201601/06/2017R$0.24
Interest on equity08/22/201610/11/2016R$0.22
Interest on equity05/11/201610/11/2016R$0.21
Interest on equity11/11/201505/31/2016R$0.02
Interest on equity08/11/201505/31/2016R$0.01
Interest on equity05/11/201505/31/2016R$0.04
Interest on equity03/24/201506/26/2015R$0.02
Interest on equity09/22/201411/18/2014R$0.27
Interest on equity06/24/201408/22/2014R$0.28
Interest on equity03/24/201405/20/2014R$0.29
Interest on equity02/03/201404/03/2014R$0.29
Interest on equity09/24/201311/19/2013R$0.26
Interest on equity06/25/201308/23/2013R$0.30
Interest on equity03/21/201305/17/2013R$0.32
Interest on equity03/01/201304/26/2013R$0.40
Interest on equity09/21/201211/13/2012R$0.32
Interest on equity06/21/201208/17/2012R$0.31
Interest on equity03/21/201205/15/2012R$0.33
Interest on equity03/13/201204/27/2012R$0.26
Interest on equity09/21/201111/14/2011R$0.37
Interest on equity07/06/201108/26/2011R$0.36
Interest on equity03/31/201105/23/2011R$0.34
Interest on equity03/18/201104/29/2011R$0.58
Interest on equity09/30/201011/29/2010R$0.50
Interest on equity06/30/201008/24/2010R$0.49
Interest on equity03/31/201005/25/2010R$0.38
Interest on equity03/31/201004/29/2010R$0.47
Interest on equity09/30/200911/23/2009R$0.33
Interest on equity06/30/200908/21/2009R$0.38
Interest on equity03/31/200905/26/2009R$0.32
Interest on equity03/31/200904/30/2009R$0.34
Interest on equity09/26/200804/30/2009R$0.22
Interest on equity08/04/200804/30/2009R$0.45
Interest on equity03/28/200805/09/2008R$0.24
Interest on equity09/11/200705/09/2008R$0.27
Interest on equity06/11/200705/09/2008R$0.18
Interest on equity04/03/200705/07/2007R$0.17
Interest on equity11/13/200605/07/2007R$0.24
Interest on equity07/25/200605/07/2007R$0.22
Interest on equity05/23/200605/07/2007R$0.16
Interest on equity06/21/2019—R$0.17
Interest on equity03/26/2019—R$0.42
Interest on equity03/08/2019—R$0.73
Splits, reverse splits and bonus shares
EventLast day to ownRatio
Split11/25/20203 for 1

About Mg

Sector
Saneamento
Segment
Água e Saneamento
Listing segment
Novo Mercado
Tag along
100.00%
Free float
99.72%
Shares issued
380.25M common
Average daily trading
R$232.1M
Ibovespa weight
0.84%
Listed since
02/08/2006
CNPJ
17.281.106/0001-03

A Companhia de Saneamento de Minas Gerais (Copasa) presta serviços de captação, tratamento e distribuição de água, além de coleta e tratamento de esgoto em centenas de municípios do estado de Minas Gerais, por meio de contratos de concessão e programas setoriais. A empresa também atua por subsidiárias em nichos de saneamento integrado e soluções correlatas, com receita regulada por tarifas e regras definidas em instrumentos públicos e agências competentes. No setor brasileiro de utilities de saneamento, a Copasa figura entre as maiores companhias de capital aberto em base de clientes e abrangência territorial. A operação combina infraestrutura intensiva em capital, gestão de perdas, expansão de redes e metas de universalização, com indicadores de desempenho operacionais e financeiros monitorados por órgãos reguladores e por investidores do segmento de serviços públicos essenciais.

Investor website
ShareholdersAs of 12/31/2026, from the Formulário de Referência filed with the CVM.
ShareholderCommonPreferredTotal
GERAIS SANEAMENTO S.A (EQUATORIAL)30.00%0.00%30.00%
PERFIN INFRA SANEAMENTO MG FUNDO DE INVESTIMENTO FINANCEIRO MULTIMERCADO6.32%0.00%6.32%
Estado de Minas Gerais5.03%100.00%5.03%
Outros58.36%0.00%58.36%
Ações Tesouraria0.28%0.00%0.28%

Questions about CSMG3

How much is CSMG3 today?

CSMG3 is at R$56.31 (-1.09% on the day), last traded on 09/30/2026.

How much did CSMG3 pay in dividends in 2025?

CSMG3 paid R$2.29 per share in 2025, a dividend yield of 5.21%.

When is the next CSMG3 dividend?

The next announced payment is R$0.26 per share on 11/09/2026.

What are the P/E and P/B of CSMG3?

CSMG3 trades at a P/E of 16.56 and a P/B of 2.42.

How much did CSMG3 return in 12 months?

CSMG3 returned 55.15% in 12 months, with annualized volatility of 30.34% and a largest drawdown of -13.95%.

What sector is CSMG3 in?

Mg is in the Saneamento sector, Água e Saneamento segment.