1.Sales and profit
See section →- Energy Co Of Minas Gerais had $7.6B of revenue in fiscal 2025, up 3.5% on the year before. Over five years, revenue changed +9.3% a year on average.
- Energy Co Of Minas Gerais made $876M of net profit in fiscal 2025.
Energy Co Of Minas Gerais
CIG NYSE Electric Services Financials FY2016–FY2025
Energy Co Of Minas Gerais had $7.6B of revenue in fiscal 2025, up 3.5% on the year before. Over five years, revenue changed +9.3% a year on average.
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$1.83 $2.73
Last close · Oct 30, 2026
$1.83
−$0.23 (−11.17%) past year
KIRA’s summary AI analyst
Hi! I read Energy Co Of Minas Gerais’s latest annual report (fiscal 2025). Here is what stands out:
3 strengths 1 to watch
2.Cash and shareholders
See section →- Free cash flow was $604M in fiscal 2025, 7.9% of revenue.
- In the last 12 months, insiders sold $0.0M of shares on the open market and bought none.
3.Financial health
See section →- Energy Co Of Minas Gerais owes $3.2B more than it holds in cash.
- Energy Co Of Minas Gerais passes 3 of 8 financial health tests (Piotroski F-score).
Energy Co Of Minas Gerais in 30 seconds
Good So-so Weak
So-so
Are sales growing?
+3.5%
Only a little. Sales grew 3.5% last year.
Good
Does it make a profit?
11.5%
Yes. It keeps 11.5% of every sale as profit.
So-so
Does profit turn into cash?
7.9%
Partly. 7.9% of sales ends up as free cash.
Weak
Is debt under control?
$3.2B
Risky. It owes more than it holds in cash and has no operating profit to repay it.
Weak
How healthy are the accounts?
3 / 8
Weak. It passes 3 of 8 health tests.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Key numbers, fiscal 2025
Market cap
Last close times the latest diluted share count, so it is approximate.
—
Oct 30 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
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Sales and profit
Is it selling more, and how much does it keep?
Revenue and margins
KIRA summarises the numbers
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Energy Co Of Minas Gerais had $7.6B of revenue in fiscal 2025, up 3.5% on the year before.
Over five years, revenue changed +9.3% a year on average.
Revenue
FY16
Revenue $5.4B
FY17
Revenue $6.8B
FY18
Revenue $6.1B
FY19
Revenue $6.5B
FY20
Revenue $4.9B
FY21
Revenue $6.2B
FY22
Revenue $6.7B
FY23
Revenue $7.4B
FY24
Revenue $7.4B
FY25
Revenue $7.6B
Margins, % of revenue
FY16
Gross 23.1%
Operating —
Net 1.8%
FCF 5.8%
FY17
Gross 19.5%
Operating —
Net 4.6%
FCF 2.3%
FY18
Gross 20.6%
Operating —
Net 7.6%
FCF 4.2%
FY19
Gross 23.1%
Operating —
Net −12.5%
FCF 7.7%
FY20
Gross 21.3%
Operating —
Net 11.4%
FCF 33.6%
FY21
Gross 20.0%
Operating —
Net 11.1%
FCF 10.4%
FY22
Gross 19.8%
Operating —
Net 11.9%
FCF 18.5%
FY23
Gross 22.8%
Operating —
Net 15.6%
FCF 15.1%
FY24
Gross 20.5%
Operating —
Net 17.9%
FCF 12.1%
FY25
Gross 16.9%
Operating —
Net 11.5%
FCF 7.9%
Gross
Operating
Net
FCF
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Net income and earnings per share
Loss periods are shown in red.
KIRA summarises the numbers
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Energy Co Of Minas Gerais made $876M of net profit in fiscal 2025.
Net income
FY16
Net income $95.7M
FY17
Net income $314M
FY18
Net income $465M
FY19
Net income −$810M
FY20
Net income $555M
FY21
Net income $695M
FY22
Net income $792M
FY23
Net income $1.2B
FY24
Net income $1.3B
FY25
Net income $876M
Diluted EPS
FY16
Diluted EPS —
FY17
Diluted EPS —
FY18
Diluted EPS —
FY19
Diluted EPS —
FY20
Diluted EPS $0.33
FY21
Diluted EPS —
FY22
Diluted EPS —
FY23
Diluted EPS —
FY24
Diluted EPS —
FY25
Diluted EPS —
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Cash and shareholders
How much cash comes in, and where does it go?
Cash flow
Cash from operations minus capital spending.
KIRA summarises the numbers
-
Free cash flow was $604M in fiscal 2025, 7.9% of revenue.
Free cash flow
FY16
Free cash flow $313M
FY17
Free cash flow $156M
FY18
Free cash flow $255M
FY19
Free cash flow $498M
FY20
Free cash flow $1.6B
FY21
Free cash flow $649M
FY22
Free cash flow $1.2B
FY23
Free cash flow $1.1B
FY24
Free cash flow $895M
FY25
Free cash flow $604M
Cash from operations vs capital spending
FY16
Cash from operations $348M
Capital spending $34.4M
FY17
Cash from operations $182M
Capital spending $26.0M
FY18
Cash from operations $276M
Capital spending $21.1M
FY19
Cash from operations $516M
Capital spending $17.7M
FY20
Cash from operations $1.7B
Capital spending $25.6M
FY21
Cash from operations $683M
Capital spending $33.7M
FY22
Cash from operations $1.3B
Capital spending $33.5M
FY23
Cash from operations $1.3B
Capital spending $215M
FY24
Cash from operations $1.0B
Capital spending $125M
FY25
Cash from operations $729M
Capital spending $125M
Cash from operations
Capital spending
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Dividends, buybacks and share count
Dividends and buybacks
FY16
Dividends —
Buybacks —
FY17
Dividends —
Buybacks —
FY18
Dividends —
Buybacks —
FY19
Dividends $178M
Buybacks —
FY20
Dividends −$116M
Buybacks —
FY21
Dividends —
Buybacks —
FY22
Dividends —
Buybacks —
FY23
Dividends $107M
Buybacks —
FY24
Dividends $350M
Buybacks —
FY25
Dividends —
Buybacks —
Dividends
Buybacks
Diluted shares outstanding (annual)
FY16
Diluted shares —
FY17
Diluted shares —
FY18
Diluted shares —
FY19
Diluted shares —
FY20
Diluted shares —
FY21
Diluted shares —
FY22
Diluted shares —
FY23
Diluted shares —
FY24
Diluted shares —
FY25
Diluted shares —
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
KIRA summarises the numbers
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In the last 12 months, insiders sold $0.0M of shares on the open market and bought none.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
1 insider
Of sales under plans
0%
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Apr 6, 2026 | de Souza Aloisio Macario FerreiraDirector | Sold | 1,550 | $2.49 | $0.0M | Form 4 |
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Financial health
Can it carry its debts, and how well does it use its money?
Balance sheet
Cash, debt and the ratios that show how comfortably Energy Co Of Minas Gerais can carry it.
KIRA summarises the numbers
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Energy Co Of Minas Gerais owes $3.2B more than it holds in cash.
Cash vs debt (incl. leases)
FY16
Cash $306M
Debt $4.7B
FY17
Cash $311M
Debt $4.3B
FY18
Cash $230M
Debt $3.8B
FY19
Cash $133M
Debt $3.7B
FY20
Cash $323M
Debt $2.9B
FY21
Cash $148M
Debt $2.0B
FY22
Cash $273M
Debt $2.0B
FY23
Cash $317M
Debt $2.0B
FY24
Cash $307M
Debt $2.0B
FY25
Cash $347M
Debt $3.6B
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $148M | $273M | $317M | $307M | $347M |
| Debt incl. finance leases | $2.0B | $2.0B | $2.0B | $2.0B | $3.6B |
| Debt / equity | 0.6x | 0.5x | 0.4x | 0.4x | 0.7x |
| Current ratio | 1.2x | 1.2x | 0.9x | 0.9x | 1.0x |
| Quick ratio | 1.2x | 1.2x | 0.9x | 0.9x | 1.0x |
| Total assets | $9.3B | $10.2B | $11.3B | $9.7B | $12.2B |
| Total liabilities | $5.8B | $6.0B | $6.3B | $5.2B | $7.0B |
| Shareholders' equity | $3.5B | $4.1B | $5.1B | $4.4B | $5.2B |
| Net debt (− = net cash) | $1.9B | $1.7B | $1.7B | $1.7B | $3.2B |
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Return on capital, equity and assets (annual)
FY16
Return on capital —
Return on equity 2.4%
Return on assets 0.7%
FY17
Return on capital —
Return on equity 7.6%
Return on assets 2.4%
FY18
Return on capital —
Return on equity 11.5%
Return on assets 3.3%
FY19
Return on capital —
Return on equity −21.0%
Return on assets −5.8%
FY20
Return on capital —
Return on equity 15.2%
Return on assets 4.8%
FY21
Return on capital —
Return on equity 20.3%
Return on assets 7.0%
FY22
Return on capital —
Return on equity 20.8%
Return on assets 8.1%
FY23
Return on capital —
Return on equity 25.1%
Return on assets 10.7%
FY24
Return on capital —
Return on equity 27.8%
Return on assets 12.6%
FY25
Return on capital —
Return on equity 18.2%
Return on assets 8.0%
Return on capital
Return on equity
Return on assets
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
KIRA summarises the numbers
-
Energy Co Of Minas Gerais passes 3 of 8 financial health tests (Piotroski F-score).
| Test | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| F-score | 5 / 8 | 5 / 8 | 6 / 8 | 4 / 8 | 3 / 8 |
| Accruals ratio | 0.1% | −4.9% | −1.6% | 2.9% | 1.3% |
| Altman Z'' | — | — | — | — | — |
| Net income is positive | ✓ | ✓ | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | ✓ | ✓ | ✓ | ✓ | ✕ |
| Cash from operations exceeds net income | ✕ | ✓ | ✓ | ✕ | ✕ |
| Debt fell relative to assets | ✓ | ✓ | ✓ | ✕ | ✕ |
| Current ratio rose | ✕ | ✕ | ✕ | ✕ | ✓ |
| Share count didn't rise | — | — | — | — | — |
| Gross margin rose | ✕ | ✕ | ✓ | ✕ | ✕ |
| Revenue rose relative to assets | ✓ | ✕ | ✕ | ✓ | ✕ |
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
All figures
Every number, year by year.
10 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
See the figures for 10 years Hide the figures
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $5.4B | $6.8B | $6.1B | $6.5B | $4.9B | $6.2B | $6.7B | $7.4B | $7.4B | $7.6B |
| Gross profit | $1.2B | $1.3B | $1.3B | $1.5B | $1.0B | $1.2B | $1.3B | $1.7B | $1.5B | $1.3B |
| Research and development | $67.1M | $73.0M | $61.5M | $50.4M | $43.6M | — | $1.2M | $1.2M | $0.7M | $1.1M |
| Interest expense | $710M | $564M | $608M | $468M | $650M | $574M | $593M | $331M | $362M | $369M |
| Pretax income | $105M | $516M | $550M | $1.2B | $737M | $871M | $797M | $1.4B | $1.7B | $1.0B |
| Income tax | $9.5M | $202M | $167M | $405M | −$182M | $175M | $5.0M | $217M | $416M | $138M |
| Net income | $95.7M | $314M | $465M | −$810M | $555M | $695M | $792M | $1.2B | $1.3B | $876M |
| Net income to common | $95.7M | $314M | $465M | −$810M | $555M | $695M | $792M | $1.2B | $1.3B | $876M |
| Diluted EPS | — | — | — | — | $0.33 | — | — | — | — | — |
| Cash flow | ||||||||||
| Cash from operations | $348M | $182M | $276M | $516M | $1.7B | $683M | $1.3B | $1.3B | $1.0B | $729M |
| Capital expenditure | $34.4M | $26.0M | $21.1M | $17.7M | $25.6M | $33.7M | $33.5M | $215M | $125M | $125M |
| Free cash flow | $313M | $156M | $255M | $498M | $1.6B | $649M | $1.2B | $1.1B | $895M | $604M |
| Depreciation and amortization | $230M | $247M | $208M | $207M | $168M | $176M | $229M | $255M | $255M | $274M |
| Stock-based compensation | $2.0M | $1.6M | $21.1M | $66.7M | $27.5M | $24.8M | $16.1M | $31.4M | $31.9M | $38.5M |
| Dividends paid | — | — | — | $178M | −$116M | — | — | $107M | $350M | — |
| Dividends and buybacks | — | — | — | $178M | −$116M | — | — | $107M | $350M | — |
| Balance sheet | ||||||||||
| Cash and short-term investments | $306M | $311M | $230M | $133M | $323M | $148M | $273M | $317M | $307M | $347M |
| Total debt | $4.7B | $4.3B | $3.8B | $3.7B | $2.9B | $2.0B | $2.0B | $2.0B | $2.0B | $3.6B |
| Current assets | $2.5B | $2.6B | $7.2B | $2.6B | $3.0B | $2.3B | $2.5B | $2.4B | $2.0B | $2.6B |
| Current liabilities | $3.5B | $2.6B | $6.0B | $2.0B | $1.9B | $1.9B | $2.1B | $2.7B | $2.3B | $2.6B |
| Inventory | $15.1M | $11.5M | $9.3M | $9.7M | — | — | — | — | — | — |
| Property and equipment, net | $1.2B | $834M | $686M | $610M | $463M | $434M | $456M | $671M | $601M | $765M |
| Intangible assets | $3.3B | $3.4B | $2.8B | $2.9B | $2.3B | $2.3B | $2.8B | $3.1B | $2.7B | $3.4B |
| Total assets | $12.9B | $12.8B | $15.4B | $12.6B | $10.4B | $9.3B | $10.2B | $11.3B | $9.7B | $12.2B |
| Total liabilities | $8.9B | $8.4B | $11.3B | −$8.6B | $7.0B | $5.8B | $6.0B | $6.3B | $5.2B | $7.0B |
| Shareholders' equity | $4.0B | $4.3B | $3.8B | $4.0B | $3.4B | $3.5B | $4.1B | $5.1B | $4.4B | $5.2B |
| Margins | ||||||||||
| Gross margin | 23.1% | 19.5% | 20.6% | 23.1% | 21.3% | 20.0% | 19.8% | 22.8% | 20.5% | 16.9% |
| Net margin | 1.8% | 4.6% | 7.6% | −12.5% | 11.4% | 11.1% | 11.9% | 15.6% | 17.9% | 11.5% |
| FCF margin | 5.8% | 2.3% | 4.2% | 7.7% | 33.6% | 10.4% | 18.5% | 15.1% | 12.1% | 7.9% |
| Returns | ||||||||||
| Return on equity | 2.4% | 7.6% | 11.5% | −21.0% | 15.2% | 20.3% | 20.8% | 25.1% | 27.8% | 18.2% |
| Return on assets | 0.7% | 2.4% | 3.3% | −5.8% | 4.8% | 7.0% | 8.1% | 10.7% | 12.6% | 8.0% |
| Return on tangible equity | 14.8% | 32.8% | 47.5% | −76.3% | 50.9% | 59.6% | 58.5% | 59.6% | 77.3% | 47.8% |
| Growth | ||||||||||
| Revenue growth | — | 26.4% | −10.5% | 6.1% | −24.3% | 27.5% | 6.9% | 10.6% | 0.2% | 3.5% |
| Net income growth | — | 227.6% | 48.2% | −274.2% | — | 25.2% | 13.9% | 45.7% | 14.4% | −33.7% |
| FCF growth | — | −50.3% | 63.5% | 95.7% | 229.8% | −60.5% | 89.9% | −9.6% | −19.7% | −32.5% |
| Financial health | ||||||||||
| Debt / equity | 1.2x | 1.0x | 1.0x | 0.9x | 0.9x | 0.6x | 0.5x | 0.4x | 0.4x | 0.7x |
| Current ratio | 0.7x | 1.0x | 1.2x | 1.3x | 1.6x | 1.2x | 1.2x | 0.9x | 0.9x | 1.0x |
| Quick ratio | 0.7x | 1.0x | 1.2x | 1.3x | 1.6x | 1.2x | 1.2x | 0.9x | 0.9x | 1.0x |
| Capital allocation | ||||||||||
| Capex / revenue | 0.6% | 0.4% | 0.3% | 0.3% | 0.5% | 0.5% | 0.5% | 2.9% | 1.7% | 1.6% |
| Stock comp / revenue | 0.0% | 0.0% | 0.3% | 1.0% | 0.6% | 0.4% | 0.2% | 0.4% | 0.4% | 0.5% |
| Payouts / FCF | — | — | — | 35.7% | −7.1% | — | — | 9.6% | 39.1% | — |
| Quality scores | ||||||||||
| Piotroski F-score | — | 6.0 | 6.0 | 5.0 | 6.0 | 5.0 | 5.0 | 6.0 | 4.0 | 3.0 |
| Accruals ratio | −2.0% | 1.0% | 1.3% | −9.5% | −9.7% | 0.1% | −4.9% | −1.6% | 2.9% | 1.3% |
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
Latest SEC filings
The original documents every number on this page comes from.
Source: SEC EDGAR XBRL filings (CIK 0001157557). Data updated November 1, 2026. Quarterly fourth quarters are the full year minus the first nine months. Filed in BRL under IFRS and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. For information only — not investment advice. Check the original filings before relying on any figure.