C 
Companhia Energetica de Minas Gerais CEMIG Pref ADR CIG · USD
Utilities · US listing · 🇺🇸 United States
1.90
+2.15%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$8.24bn
FY2016FY2025
Net income
$943.3m
FY2016FY2025
Free cash flow
$637.8m
FY2016FY2025
Shareholders' equity
$5.50bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.24bn | $7.67bn | $7.10bn | $6.64bn | $6.48bn | $4.86bn | $4.91bn | $4.30bn | $4.18bn | $3.62bn |
| Gross profit | $1.39bn | $1.51bn | $1.62bn | $1.31bn | $1.30bn | $1.04bn | $1.13bn | $890.4m | $813.7m | $836.6m |
| Research and development | — | $28.1m | $7.2m | $6.7m | $6.6m | $8.2m | $7.8m | $7.4m | $7.3m | $9.2m |
| Operating income | $1.22bn | $1.52bn | $1.37bn | $1.10bn | $1.34bn | $906.5m | $580.2m | $554.6m | $508.9m | $461.9m |
| Net income | $943.3m | $1.37bn | $1.11bn | $788.3m | $722.6m | $551.7m | $615.3m | $331.7m | $192.8m | $64.3m |
| Diluted earnings per share | 0.33 | 0.48 | 0.39 | 0.36 | 0.33 | 0.23 | 0.22 | 0.12 | 0.07 | 0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $12.91bn | $11.51bn | $10.59bn | $10.34bn | $10.03bn | $10.42bn | $9.73bn | $11.53bn | $8.14bn | $7.87bn |
| Cash and short-term investments | $512.4m | $663.8m | $602.0m | $817.0m | $780.9m | $1.02bn | $417.4m | $513.2m | $586.0m | $814.1m |
| Total liabilities | $7.40bn | $6.23bn | $5.85bn | $6.14bn | $6.28bn | $7.05bn | $6.63bn | $8.46bn | $5.38bn | $5.37bn |
| Debt | $3.85bn | $2.45bn | $1.98bn | $2.11bn | $2.24bn | $2.94bn | $2.90bn | $2.85bn | $2.77bn | $3.21bn |
| Shareholders' equity | $5.50bn | $5.27bn | $4.75bn | $4.20bn | $3.75bn | $3.37bn | $3.10bn | $3.07bn | $2.76bn | $2.50bn |
| Shares outstanding | 2,861m | 2,861m | 2,861m | 2,201m | 2,189m | 2,447m | 2,861m | 2,861m | 2,694m | 2,527m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $769.9m | $1.06bn | $1.28bn | $1.27bn | $709.9m | $1.66bn | $392.2m | $194.2m | $111.7m | $233.7m |
| Capital spending | −$132.0m | −$177.0m | −$243.4m | −$56.2m | −$44.9m | −$33.3m | −$371.2m | −$168.9m | −$164.9m | −$290.5m |
| Free cash flow | $637.8m | $881.7m | $1.04bn | $1.22bn | $665.0m | $1.62bn | $21.0m | $25.2m | −$53.2m | −$56.8m |
| Dividends paid | −$749.4m | −$827.2m | −$351.2m | −$403.2m | −$272.8m | −$115.2m | −$135.0m | −$98.1m | −$104.0m | −$130.0m |
Financial ratios
Data as of 13 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 16.9% | 19.7% | 22.8% | 19.8% | 20.0% | 21.1% | — |
| Operating margin | 16.8% | 26.0% | 21.4% | 14.7% | 17.4% | 17.1% | — |
| Net margin | 11.5% | 17.9% | 15.6% | 11.9% | 11.1% | 11.4% | — |
| Return on equity | 17.1% | 26.0% | 23.4% | 18.8% | 19.3% | 16.4% | — |
| Return on assets | 7.3% | 11.9% | 10.5% | 7.6% | 7.2% | 5.3% | — |
| Free cash flow yield | 67.8% | 92.9% | 114.5% | 129.9% | 74.1% | 120.3% | — |
| Revenue growth | 7.4% | 8.1% | 6.9% | 2.4% | 33.4% | -1.0% | — |
| Earnings growth | -31.2% | 23.5% | 40.9% | 9.1% | 31.0% | -10.3% | — |
| Current ratio | 1.00x | 0.86x | 0.91x | 1.20x | 1.21x | 1.60x | — |
| Debt to equity | 0.69x | 0.45x | 0.40x | 0.49x | 0.59x | 0.86x | — |
| Equity ratio | 42.6% | 45.8% | 44.8% | 40.6% | 37.4% | 32.3% | — |
| Interest coverage | 4.77x | 50.62x | 33.03x | 25.69x | 25.24x | 3.93x | — |
| R&D as a share of sales | — | 0.4% | 0.1% | 0.1% | 0.1% | 0.2% | 0.2% |
| Buybacks as a share of market value | 0.0% | 0.0% | -30.0% | -0.5% | 27.6% | -5.7% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 7.4% | 11.1% | 6.9% |
| Operating income | 3.6% | 6.1% | 3.0% |
| Net income | 6.2% | 11.3% | 7.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 18.2% | 19.7% | 19.9% | 20.9% |
| Operating margin | 17.2% | 17.6% | 18.2% | 16.8% |
| Net margin | 14.5% | 14.2% | 13.4% | 11.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 6.1 | 3.7 | 6.0 | 5.7 | 7.4 | 12.8 | 15.2 | 29.5 | 27.6 | 85.4 |
| Price to sales | 0.7 | 0.7 | 0.9 | 0.7 | 0.8 | 1.4 | 1.9 | 2.3 | 1.3 | 1.5 |
Market value over time
30 Nov 2016 to 12 Oct 2026, in USD
$2.47bn$6.90bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 13% | -24% | 18% | -17% | -12% | -14% | -7% | 85% | -11% | 50% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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