COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP files with the SEC in its annual reports.

In BRL millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2015	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Revenue	11,712	14,098	14,608	16,085	17,984	17,798	19,491	22,056	25,572	36,145
Cost of revenue	8,261	9,013	8,779	9,086	10,138	11,180	12,800	14,351	16,052	16,603
Gross profit	3,451	5,085	5,829	6,999	7,846	6,618	6,691	7,705	9,520	19,542
Selling and marketing	-598	640	686	693	803	751	826	912	984	918
General and administrative	-45	935	1,099	997	1,188	1,051	1,124	1,399	1,598	2,311
Interest expense	860	840	688	808	1,173	1,325	1,448	1,956	2,709	2,701
Interest income	395	449	326	446	373	337	472	1,092	806	1,044
Pre-tax income	588	4,129	3,504	3,912	4,678	1,326	3,170	4,273	4,754	13,643
Income tax	-1.23	-1,121	-883	-853	-1,155	-461	-962	-1,230	-1,546	-1,303
Income from continuing operations	3,044	3,430	3,962	5,177	5,712	4,492	4,098	4,645
Net income	536	2,947	2,519	2,835	3,368	973	2,306	3,121	3,524	9,580
EPS, basic	0.78	4.31	3.69	4.15	4.93	1.42	3.37	4.57	5.16	14.02
EPS, diluted	0.78	4.31	3.69	4.15	4.93	1.42	3.37	4.57	5.16	14.02

Balance sheet

	FY2015	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Cash and equivalents	1,639	1,886	2,283	3,029	2,253	396	718	1,867	838	1,683
Inventory		58	85.7	65.6	70.5	105	114	124	86	10.8
Total current assets		3,824	4,574	5,602	4,896	6,441	6,503	7,285	7,783	10,609
Property, plant and equipment	325	302	255	268	314	268	291	339	475	562
Lease right-of-use assets					640	589	626	575
Intangible assets	28,514	31,247	33,466	29,012	32,325	34,406	39,321	39,321	44,013	44,771
Total assets		36,745	39,546	43,565	46,458	50,419	53,165	57,208	61,471	80,965
Accounts payable			345	466	370	264	237	431	456	767
Total current liabilities		4,303	4,772	5,399	6,453	5,900	5,093	6,657	8,408	11,972
Total liabilities		21,326	22,033	24,013	24,822	27,625	28,234	29,874	31,614	44,037
Total debt	13,122	11,964	12,101	13,153	13,245	17,259	17,724	18,959	19,536	25,258
Retained earnings						653	1,546	2,093	2,363	6,551
Total equity	13,717	15,419	17,513	19,552	21,636	22,794	24,932	27,334	29,857	36,928
Total liabilities and equity		36,745	39,546	43,565	46,458	50,419	53,165	57,208	61,471	80,965

Cash flow statement

	FY2015	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Net income	536	2,947	2,519	2,835	3,368	973	2,306	3,121	3,524	9,580
Depreciation and amortization	1,074	1,147	1,302	1,393	-1,780	-2,037	2,253	2,451	2,791	2,677
Cash from operations	2,641	3,004	3,302	3,843	4,197	4,978	3,914	3,968	4,854	7,405
Capital expenditures	-54.8	-27.6	-18.9	-50.6	-78.2	-42.4	-50.3	-73.7	-147	-101
Cash from investing	-2,459	-2,131	-1,971	-2,189	-3,267	-6,769	-2,663	-2,878	-4,906	-9,976
Debt issued	1,303	1,251	1,008	1,635	1,793	4,777	2,923	2,807	2,371
Debt repaid	-1,292	-1,535	-1,099	-1,679	-2,148	-3,244	-2,897	-1,537	-1,771
Dividends paid	-202	-139	-766	-653	-740	-890	-254	-604	-824	-929
Cash from financing	-266	-626	-934	-907	-1,706	-66.3	-929	60.3	-978	3,415
Net change in cash	-83.8	247	397	746	-776	-1,857	322	1,150	-1,029	844
Free cash flow	2,587	2,976	3,283	3,792	4,119	4,936	3,863	3,894	4,707	7,304
Interest paid	-711	-740	-676	-732	-737	627	845	1,505	1,936	1,977
Income taxes paid	-17.7	-1,030	-932	-888	-1,223	373	1,209	1,369	1,569	1,763

Key metrics

Worked out from the statements above. Latest values use fiscal 2024. No valuation: the share price is quoted in a different currency than the statements.

Profitability

Metric	Value	How it is calculated
Gross margin	54.1%	Gross profit / revenue.
Pre-tax margin	37.7%	Pre-tax income / revenue.
Net margin	26.5%	Net income / revenue.
FCF margin	20.2%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	20.5%	Cash from operations / revenue.
Effective tax rate	-9.5%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	13.5%	Net income / average total assets.
Capex / revenue	0.3%	Capital expenditures / revenue.
D&A / revenue	7.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	41.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	22.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	15.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	105.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	42.9%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	20.0%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	171.9%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	60.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	23.3%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	171.7%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	60.8%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	23.2%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	52.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	23.7%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	12.0%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	55.2%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	23.6%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	12.1%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	31.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	15.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	11.8%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.89x	Current assets / current liabilities.
Quick ratio	0.14x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.14x	(Cash + short-term investments) / current liabilities.
Debt / assets	31.2%	Total debt / total assets.
Liabilities / assets	54.4%	Total liabilities / total assets.
Net debt	R$23.58B	Total debt - cash - short-term investments. Negative means more cash than debt.
Working capital	-R$1.36B	Current assets - current liabilities.
Goodwill and intangibles / assets	55.3%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.51x	Revenue / average total assets.
Fixed asset turnover	69.8x	Revenue / average property, plant and equipment.
Inventory turnover	343x	Cost of revenue / average inventory.
Days inventory	1 days	365 x average inventory / cost of revenue.
Days payables	13 days	365 x average accounts payable / cost of revenue.
FCF conversion	76.2%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	1.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	R$14.02	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	R$14.02	Net income per basic share, as reported (split-adjusted).
Payout ratio	9.7%	Dividends paid / net income, when net income is positive.
Dividends / FCF	12.7%	Dividends paid / free cash flow, when free cash flow is positive.

What was COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP's revenue in fiscal 2024?

COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP reported revenue of R$36.15B for fiscal 2024, 41.3% higher than the year before.

Was COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP profitable in fiscal 2024?

Yes. Net income was R$9.58B, a net margin of 26.5%.

How much free cash flow did COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP generate in fiscal 2024?

Cash from operations of R$7.40B minus capital expenditures of R$100.7M left free cash flow of R$7.30B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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