B3 · BRL

ISAE4

Isa Energia Brasil SA Non-Cum Perp Pfd Registered Shs

R$27.59+3.29% (R$0.88)Updated 10/1/26, 2:16 AM

Day's range: R$26.88 – R$27.72
Day's volume: R$974.4M
52-week range: R$23.73 – R$32.19

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ISAE4 in numbers

Market cap: R$21B

P/E: 6.89

P/B: 0.88

Dividend yield (12m): 6.71%

Net debt/EBITDA: 6.32

The 12-month dividend yield of ISAE4 is 6.71%, below its 5-year average of 10.31%.

ISAE4 price history

10/01/202509/30/2026

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 (annualized)	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 09/01/2021 would be worth R$1,594.43 today.

Value today in ISAE4: R$1,594.43

Return over the period: +59.44%

Return per year: +9.78%

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.

ISAE4 fundamentals

Valuation

P/E
6.89
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$32.9B
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$27.59.

Graham's fair price: R$53.29; 93.14% 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; 58.14% above the price

R$2.62 (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.

ISAE4'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	7.41	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's financial statements

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

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	6.89	0.88	6.71%	12.71%	R$21B
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 ISAE4 pay dividends?

Announced payments
Type	Last day to own	Payment	Per share
Interest on equity	11/25/2026	12/07/2026	R$0.19
Interest on equity	11/09/2026	12/07/2026	R$0.19
Interest on equity	10/08/2026	12/07/2026	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	04/17/2026	04/29/2026	R$0.14
Dividend	04/02/2026	04/29/2026	R$0.14
Dividend	03/12/2026	04/29/2026	R$0.14
Interest on equity	02/26/2026	03/31/2026	R$0.25
Interest on equity	01/29/2026	02/25/2026	R$0.25
Interest on equity	12/29/2025	01/28/2026	R$0.25
Interest on equity	12/17/2025	12/30/2025	R$0.22
Interest on equity	11/24/2025	12/12/2025	R$0.22
Interest on equity	10/30/2025	11/28/2025	R$0.22
Interest on equity	03/11/2025	03/21/2025	R$0.79
Interest on equity	02/11/2025	02/21/2025	R$0.79
Interest on equity	01/10/2025	01/21/2025	R$0.79

See all 77 distributions

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

Splits, reverse splits and bonus shares
Event	Last day to own	Ratio
Split	04/05/2019	4 for 1
Reverse split	08/14/2007	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 common · 465.16M preferred
Average daily trading: R$104.8M
Ibovespa weight: 0.49%
Listed since: 07/26/1999
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 12/31/2026, from the Formulário de Referência filed with the CVM.
Shareholder	Common	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$27.59 (3.29% on the day), last traded on 10/01/2026.

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 12/07/2026.

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

ISAE4 trades at a P/E of 6.89 and a P/B of 0.88.

How much did ISAE4 return in 12 months?

ISAE4 returned 16.92% in 12 months, with annualized 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.