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SBSP3 · B3 · Brazil · Saneamento, Serv. Água e Gás
In shortSabesp is loss-making, burns cash and carries moderate debt, with revenue growing (+5.4% last year).
Financial health
Mixed
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 33.1% | 100/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 0.0% | 20/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 0.0% | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 11.0% | 74/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.12× | 27/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.95× | 59/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | 1.88× | 61/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | – | n/a |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 2.32 | 31/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -14.1% | 0/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 4 of 5 | 75/100 |
Weight in the score: 20%
| Profitable years (last 5) | 2 of 5 | 40/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 5 | 100/100 |
| Revenue growth volatility | 14.1% | 59/100 |
| Operating margin volatility | 9.4% | 24/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 20.0% | 100/100 |
|---|---|---|
| EPS growth, 3-year average | 39.4% | 100/100 |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
1 older year available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
BRL millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 19,491 | 22,056 | 25,572 | 36,145 | 38,092 |
| Cost of revenue | 12,800 | 14,351 | 16,052 | 16,603 | 23,992 |
| Gross profit | 6,691 | 7,705 | 9,520 | 19,542 | 14,100 |
| Selling, general & admin | 2,594 | 3,093 | 3,235 | 3,787 | 1,824 |
| Operating income | 4,098 | 4,645 | 6,346 | 15,510 | 12,600 |
| Interest expense | 1,400 | 1,464 | 2,399 | 3,227 | 0 |
| Pre-tax income | 3,170 | 4,273 | 4,754 | 13,643 | 11,702 |
| Income tax | 864 | 1,151 | 1,230 | 4,063 | 3,240 |
| Net income | 2,306 | 3,121 | 0 | 0 | 0 |
| Diluted EPS | BRL3.37 | BRL4.57 | BRL5.16 | BRL14.02 | BRL12.37 |
1 older year available with the 10-year history. Essential plan, from €8.25/month →
2.32 Grey zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
3/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: CVM (dados.cvm.gov.br). Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Dec 31, 2025 · Data updated Mar 30, 2026