B3 · BRL

TAEE11

Transmissora Alianca De Energia Eletrica S.A. Unit

R$41.81+3.08% (R$1.25)Updated 10/1/26, 2:16 AM

Day's range: R$40.92 – R$41.92
Day's volume: R$106.9M
52-week range: R$35.59 – R$46.11

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TAEE11 in numbers

Market cap: R$14.3B

P/E: 8.86

P/B: 1.78

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

10/01/202509/30/2026

Compare with

TAEE11 risk and return

Monthly closes adjusted for splits and distributions.

Metric	12 months	36 months	60 months
Return	+20.04%	+52.57%	+83.40%
Volatility (annualized)	20.50%	16.64%	17.32%
Largest drawdown	-8.19%	-8.19%	-14.74%
Positive months	7/12	19/36	33/60

How much did investing in TAEE11 return?

Amount invested

R$1,000.00 invested on 09/01/2021 would be worth R$1,834.04 today.

Value today in TAEE11: R$1,834.04

Return over the period: +83.40%

Return per year: +12.90%

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.

TAEE11 fundamentals

Valuation

P/E
8.86
P/B
1.78
EV/EBITDA
11.89
EV/EBIT
12.23
EV/Revenue
7.94
P/EBIT
4.90
P/S
3.18
P/OCF
8.38
P/FCF
8.03
Earnings yield
8.18%
PEG ratio
—
Earnings per share
R$4.72
Book value per share
R$23.43

Debt

Net debt
R$21.3B
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$41.81.

Graham's fair price: R$49.87; 19.28% 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; 51.53% above the price

R$3.80 (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.

TAEE11'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	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's financial statements

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

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	8.86	1.78	7.19%	20.14%	R$14.3B
TAEE4TRANSMISSORA ALIANÇA DE ENERGIA ELÉTRICA S.A.	8.86	1.78	7.19%	20.14%	R$14.3B
TAEE3TRANSMISSORA ALIANÇA DE ENERGIA ELÉTRICA S.A.	8.71	1.75	7.31%	20.14%	R$14.3B
LOGG3LOG COMMERCIAL PROPERTIES	5.84	0.62	27.63%	10.63%	R$2.2B
PRNR3PRINER SERVIÇOS INDUSTRIAIS S.A.	24.44	2.24	0.00%	9.17%	R$1.1B
MELK3MELNICK DESENVOLVIMENTO IMOBILIÁRIO S.A.	5.32	0.58	13.62%	10.91%	R$631.2M
AZEV4AZEVEDO E TRAVASSOS S.A.	-0.20	0.32	0.00%	-160.82%	R$348.4M

Does TAEE11 pay dividends?

Announced payments
Type	Last day to own	Payment	Per share
Interest on equity	08/14/2026	11/26/2026	R$0.36
Dividend	08/14/2026	11/26/2026	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
5.76%2026

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

See all 102 distributions

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

Splits, reverse splits and bonus shares
Event	Last day to own	Ratio
Split	12/04/2012	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 common · 442.78M preferred
Average daily trading: R$76M
Ibovespa weight: 0.35%
Listed since: 10/27/2006
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 12/31/2026, from the Formulário de Referência filed with the CVM.
Shareholder	Common	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$41.81 (3.08% on the day), last traded on 10/01/2026.

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 11/26/2026.

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

TAEE11 trades at a P/E of 8.86 and a P/B of 1.78.

How much did TAEE11 return in 12 months?

TAEE11 returned 20.04% in 12 months, with annualized volatility of 20.50% 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.