B3 · BRL

GEPA3

Rio Paranapanema Energia SA

R$34.00+2.44% (R$0.81)Updated 10/1/26, 4:49 PM

Day's range: R$33.20 – R$33.20
Day's volume: R$3.4K
52-week range: R$30.00 – R$38.10

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GEPA3 in numbers

Market cap: R$3.4B

P/E: 14.29

P/B: 2.33

Dividend yield (12m): 18.83%

Net debt/EBITDA: 1.95

The 12-month dividend yield of GEPA3 is 18.83%, above its 5-year average of 13.32%.

GEPA3 price history

10/01/202510/01/2026

Compare with

GEPA3 risk and return

Monthly closes adjusted for splits and distributions.

Metric	12 months	36 months	60 months
Return	+14.93%	+146.44%	+108.44%
Volatility (annualized)	24.65%	20.21%	24.16%
Largest drawdown	-12.10%	-12.10%	-32.16%
Positive months	5/12	21/36	33/60

How much did investing in GEPA3 return?

Amount invested

R$1,000.00 invested on 10/01/2021 would be worth R$2,216.59 today.

Value today in GEPA3: R$2,216.59

Return over the period: +121.66%

Return per year: +17.26%

In the Ibovespa: R$1,808.65

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

GEPA3 fundamentals

Valuation

P/E
14.29
P/B
2.33
EV/EBITDA
6.45
EV/EBIT
—
EV/Revenue
3.51
P/EBIT
—
P/S
2.45
P/OCF
5.42
P/FCF
-9.46
Earnings yield
—
PEG ratio
—
Earnings per share
R$2.38
Book value per share
R$14.58

Debt

Net debt
R$1.5B
Net debt/EBITDA
1.95
Net debt/Equity
1.07
Debt/Equity
1.26
Current ratio
0.52
Quick ratio
0.52
Cash ratio
0.32

Efficiency

Gross margin
35.79%
EBITDA margin
54.46%
Operating margin
30.65%
Net margin
16.30%
Asset turnover
0.35

Profitability

ROE
16.32%
ROA
5.66%
ROIC
—
Payout
269.06%

Growth

Revenue CAGR (5 years)
—
Earnings CAGR (5 years)
—
Revenue growth (year)
—
Earnings growth (year)
—
Revenue growth (quarter)
10.22%
Earnings growth (quarter)
-50.64%

What is GEPA3's fair price?

Two classic value formulas, with today's numbers. The current price is R$34.00.

Graham's fair price: R$27.93; 17.84% below the price

√(22.50 × R$2.38 × R$14.58)

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$64.19; 88.81% above the price

R$3.85 (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.

GEPA3's indicators by year

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

Indicator	2025	2024	2023	2022	2021	2020	2019	2018
P/E	—	—	7.53	9.67	-343.39	5.64	18.01	11.99
P/B	2.28	1.72	1.41	1.26	1.58	2.07	2.86	1.88
EV/EBITDA	—	—	5.39	6.13	13.71	3.30	8.84	7.29
Dividend yield	17.24%	20.81%	6.87%	10.76%	10.94%	4.88%	8.76%	10.32%
Earnings per share	R$0.00	R$0.00	R$3.62	R$2.58	-R$0.09	R$7.43	R$2.61	R$2.71
Book value per share	R$13.14	R$16.89	R$19.30	R$19.82	R$20.20	R$20.24	R$16.42	R$17.32
ROE	0.00%	0.00%	18.75%	13.00%	-0.46%	36.71%	15.89%	15.65%
ROIC	0.00%	0.00%	12.73%	9.93%	1.38%	32.98%	10.81%	9.87%
Gross margin	—	—	38.61%	40.92%	16.79%	97.03%	38.28%	41.38%
EBITDA margin	—	—	48.77%	48.71%	29.38%	104.39%	49.58%	53.30%
Net margin	—	—	24.54%	17.76%	-0.65%	48.37%	17.82%	19.40%
Net debt/EBITDA	—	—	1.60	2.60	6.07	0.69	2.37	2.93

GEPA3's financial statements

Line	2025	2024	2023	2022	2021	2020
Net revenue	R$0	R$0	R$1.4B	R$1.4B	R$1.3B	R$1.5B
Cost of revenue	R$0	R$0	-R$854.5M	-R$809M	-R$1.1B	-R$43.1M
Gross profit	R$0	R$0	R$537.4M	R$560.4M	R$226.2M	R$1.4B
EBITDA	R$0	R$0	R$678.8M	R$667.1M	R$395.7M	R$1.5B
EBIT	R$0	R$0	R$494.7M	R$479.9M	R$206.1M	R$1.4B
Financial result	R$0	R$0	-R$38M	-R$154.3M	-R$236.6M	-R$388.5M
Income before tax	R$0	R$0	R$456.7M	R$325.6M	-R$30.5M	R$1B
Income tax	R$0	R$0	-R$115.1M	-R$82.4M	R$21.7M	-R$302.7M
Net income	R$0	R$0	R$341.6M	R$243.2M	-R$8.8M	R$701.9M

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

GEPA3 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
GEPA3Rio Paranapanema Energia	14.29	2.33	18.83%	16.32%	R$3.4B
AXIA3AXIA3	13.39	1.32	3.41%	9.86%	R$159.1B
AXIA7AXIA7	—	—	0.00%	—	R$159.1B
SBSP3CIA SANEAMENTO BASICO EST SAO PAULO	12.06	2.15	12.68%	17.80%	R$96.7B
ENEV3ENEVA S.A	56.29	2.66	0.00%	4.73%	R$54.2B
CPFE3CPFL ENERGIA S.A.	8.73	2.31	8.20%	26.43%	R$52.4B
EQTL3EQUATORIAL S.A.	53.42	1.96	3.89%	3.67%	R$51.2B

Does GEPA3 pay dividends?

Announced payments
Type	Last day to own	Payment	Per share
Dividend	12/29/2025	10/09/2026	R$1.05
Dividend	04/30/2026	12/31/2026	R$0.24
Dividend	12/29/2025	12/31/2028	R$1.05

Dividend yield per year

9.86%2017
10.32%2018
8.76%2019
4.88%2020
10.94%2021
10.76%2022
6.87%2023
20.81%2024
17.24%2025
12.23%2026

Payment history
Type	Last day to own	Payment	Per share
Dividend	12/29/2025	07/23/2026	R$1.05
Dividend	12/29/2025	05/28/2026	R$1.74
Interest on equity	12/09/2025	05/28/2026	R$1.27
Dividend	04/30/2025	12/19/2025	R$4.05
Interest on equity	12/16/2024	05/29/2025	R$1.12
Dividend	10/02/2024	10/16/2024	R$1.84
Dividend	04/30/2024	08/30/2024	R$3.03
Interest on equity	12/11/2023	03/28/2024	R$1.16
Interest on equity	01/04/2023	06/30/2023	R$1.06
Dividend	04/28/2023	06/27/2023	R$0.81
Dividend	12/07/2022	12/19/2022	R$1.34
Interest on equity	12/07/2022	12/19/2022	R$1.34

See all 61 distributions

Earlier distributions
Type	Last day to own	Payment	Per share
Dividend	04/30/2021	06/25/2021	R$2.94
Interest on equity	12/18/2020	03/30/2021	R$0.56
Dividend	07/03/2020	08/28/2020	R$1.33
Interest on equity	12/20/2019	03/30/2020	R$0.72
Dividend	12/12/2019	12/20/2019	R$1.27
Dividend	04/26/2019	06/27/2019	R$1.28
Interest on equity	01/02/2019	03/29/2019	R$0.78
Interest on equity	12/31/2018	03/27/2019	R$0.78
Dividend	11/22/2018	12/19/2018	R$1.27
Dividend	04/27/2018	06/27/2018	R$1.30
Interest on equity	12/19/2017	01/30/2018	R$0.78
Dividend	10/31/2017	12/19/2017	R$1.27
Dividend	04/28/2017	06/21/2017	R$1.84
Interest on equity	12/27/2016	02/28/2017	R$0.67
Dividend	10/26/2016	11/17/2016	R$1.89
Dividend	04/28/2016	06/30/2016	R$1.38
Interest on equity	12/28/2015	03/16/2016	R$0.56
Dividend	10/30/2015	11/23/2015	R$0.66
Interest on equity	12/29/2014	03/30/2015	R$0.66
Dividend	10/02/2014	11/04/2014	R$2.29
Dividend	04/28/2014	05/21/2014	R$2.23
Interest on equity	12/16/2013	01/29/2014	R$0.71
Dividend	10/14/2013	11/25/2013	R$1.97
Dividend	04/26/2013	05/28/2013	R$0.89
Interest on equity	12/21/2012	01/29/2013	R$0.92
Dividend	10/31/2012	11/23/2012	R$2.19
Dividend	04/27/2012	05/30/2012	R$1.46
Interest on equity	12/27/2011	01/30/2012	R$1.04
Dividend	10/19/2011	11/10/2011	R$1.11
Dividend	04/29/2011	05/30/2011	R$0.06
Dividend	04/29/2011	05/30/2011	R$2.40
Interest on equity	12/30/2010	01/14/2011	R$0.20
Dividend	04/30/2010	05/11/2010	R$1.48
Dividend	04/20/2009	04/29/2009	R$0.33
Dividend	04/27/2015	—	R$0.64
Other	10/31/2014	—	R$5.29
Other	07/23/2012	—	R$3.18
Other	01/14/2011	—	R$3.81
Other	12/05/2005	—	R$1.74
Dividend	08/23/2005	—	R$0.51
Dividend	04/29/2005	—	R$0.47
Dividend	04/29/2004	—	R$0.55
Dividend	09/16/2003	—	R$0.32
Dividend	10/25/2002	—	R$0.96
Dividend	04/30/2002	—	R$0.52
Dividend	04/27/2001	—	R$0.75
Dividend	10/27/2000	—	R$0.40
Interest on equity	10/27/2000	—	R$0.16
Dividend	04/28/2000	—	R$0.13

Splits, reverse splits and bonus shares
Event	Last day to own	Ratio
Reverse split	10/31/2007	1 for 1000

About Rio Paranapanema Energia

Sector: Energia
Segment: Energia Elétrica
Listing segment: Traditional
Tag along: 80.00%
Free float: 3.81%
Shares issued: 31.48M common · 62.96M preferred
Average daily trading: R$6.2K
Listed since: 07/26/1999
CNPJ: 02.998.301/0001-81

A Rio Paranapanema Energia S.A., negociada na B3 sob GEPA3 e GEPA4, atua em geração hidrelétrica no Brasil e mantém ativos no rio Paranapanema. A companhia integra o grupo de empresas vinculadas à CTG Brasil, após a fase em que os ativos estiveram associados à Duke Energy no país. Seu modelo de negócio está centrado na operação de usinas, gestão de disponibilidade, manutenção eletromecânica e comercialização de energia no ambiente regulado e no mercado livre, conforme a carteira contratual e regras do setor. Como geradora, a empresa tem resultado sensível ao regime hidrológico, ao despacho do sistema e ao preço de energia, além de custos de operação e encargos setoriais. A estrutura societária e de governança segue padrão de companhia aberta, com divulgação periódica de demonstrações financeiras e fatos relevantes. O foco operacional está na confiabilidade dos ativos, segurança de barragens, eficiência de geração e gestão de contratos de longo prazo no mercado brasileiro.

Investor website

ShareholdersAs of 12/31/2026, from the Formulário de Referência filed with the CVM.
Shareholder	Common	Preferred	Total
Rio Paranapanema Participações S.A.Controlling	99.06%	94.76%	96.19%
Outros	0.94%	5.24%	3.81%

Questions about GEPA3

How much is GEPA3 today?

GEPA3 is at R$34.00 (2.44% on the day), last traded on 10/01/2026.

How much did GEPA3 pay in dividends in 2025?

GEPA3 paid R$5.17 per share in 2025, a dividend yield of 17.24%.

When is the next GEPA3 dividend?

The next announced payment is R$1.05 per share on 10/09/2026.

What are the P/E and P/B of GEPA3?

GEPA3 trades at a P/E of 14.29 and a P/B of 2.33.

How much did GEPA3 return in 12 months?

GEPA3 returned 14.93% in 12 months, with annualized volatility of 24.65% and a largest drawdown of -12.10%.

What sector is GEPA3 in?

Rio Paranapanema Energia is in the Energia sector, Energia Elétrica segment.