SBSP3 · B3 · Water utility
Sabesp
We own 79 shares · in the portfolio for 5 days
- Since we bought
- −0.2%
- Ibovespa, same period
- −4.4%
At the close of 30 Oct 2026. Includes dividends declared since purchase.
Why we own it
Tariffs are linked to inflation and regulated by the state of São Paulo, whose government did not change in the election.
What could go wrong
- A regulatory change that breaks the inflation link.
- Delays in its investment plan.
What would make us sell
Written before we bought. A falling price is not on this list.
- A regulatory change that breaks the tariff indexation.
- A material failure to meet its investment plan.
Twelve months against the Ibovespa
| Date | Sabesp | Ibovespa |
|---|---|---|
| 31 Oct 2025 | 0.0% | 0.0% |
| 5 Nov 2025 | +3.4% | +2.5% |
| 10 Nov 2025 | +3.9% | +3.8% |
| 13 Nov 2025 | +6.8% | +5.1% |
| 18 Nov 2025 | +3.2% | +4.7% |
| 24 Nov 2025 | +6.7% | +3.8% |
| 27 Nov 2025 | +7.6% | +5.9% |
| 2 Dec 2025 | +9.1% | +7.7% |
| 5 Dec 2025 | +4.2% | +5.2% |
| 10 Dec 2025 | +2.4% | +6.4% |
| 15 Dec 2025 | +5.4% | +8.7% |
| 18 Dec 2025 | +2.6% | +5.6% |
| 23 Dec 2025 | +7.0% | +7.3% |
| 30 Dec 2025 | +5.9% | +7.7% |
| 6 Jan 2026 | +3.5% | +9.4% |
| 9 Jan 2026 | +4.4% | +9.2% |
| 14 Jan 2026 | −0.8% | +10.4% |
| 19 Jan 2026 | −1.6% | +10.2% |
| 22 Jan 2026 | +7.2% | +17.4% |
| 27 Jan 2026 | +11.5% | +21.7% |
| 30 Jan 2026 | +12.1% | +21.3% |
| 4 Feb 2026 | +13.9% | +21.5% |
| 9 Feb 2026 | +17.6% | +24.5% |
| 12 Feb 2026 | +21.1% | +25.6% |
| 19 Feb 2026 | +21.8% | +26.1% |
| 24 Feb 2026 | +22.2% | +28.1% |
| 27 Feb 2026 | +22.1% | +26.2% |
| 4 Mar 2026 | +20.1% | +24.0% |
| 9 Mar 2026 | +15.9% | +21.0% |
| 12 Mar 2026 | +14.5% | +19.9% |
| 17 Mar 2026 | +18.6% | +20.6% |
| 20 Mar 2026 | +18.6% | +17.8% |
| 25 Mar 2026 | +24.8% | +24.0% |
| 30 Mar 2026 | +23.0% | +22.1% |
| 2 Apr 2026 | +25.8% | +25.8% |
| 8 Apr 2026 | +28.6% | +28.5% |
| 13 Apr 2026 | +34.5% | +32.4% |
| 16 Apr 2026 | +34.1% | +31.6% |
| 22 Apr 2026 | +38.0% | +29.0% |
| 27 Apr 2026 | +35.6% | +26.8% |
| 30 Apr 2026 | +32.3% | +25.3% |
| 6 May 2026 | +31.2% | +25.5% |
| 11 May 2026 | +21.4% | +21.6% |
| 14 May 2026 | +17.9% | +19.3% |
| 19 May 2026 | +13.9% | +16.5% |
| 22 May 2026 | +13.6% | +17.8% |
| 27 May 2026 | +14.0% | +17.5% |
| 1 Jun 2026 | +8.9% | +15.2% |
| 5 Jun 2026 | +9.1% | +13.0% |
| 10 Jun 2026 | +9.9% | +12.8% |
| 15 Jun 2026 | +11.3% | +14.0% |
| 18 Jun 2026 | +7.4% | +12.5% |
| 23 Jun 2026 | +12.4% | +14.5% |
| 26 Jun 2026 | +18.2% | +15.9% |
| 1 Jul 2026 | +19.2% | +14.8% |
| 6 Jul 2026 | +18.6% | +15.3% |
| 9 Jul 2026 | +19.8% | +15.5% |
| 14 Jul 2026 | +21.1% | +18.1% |
| 17 Jul 2026 | +16.7% | +16.2% |
| 22 Jul 2026 | +16.9% | +18.7% |
| 27 Jul 2026 | +15.3% | +17.2% |
| 30 Jul 2026 | +9.4% | +18.5% |
| 4 Aug 2026 | +11.8% | +19.0% |
| 7 Aug 2026 | +7.4% | +15.4% |
| 12 Aug 2026 | +4.3% | +12.0% |
| 17 Aug 2026 | −5.0% | +11.5% |
| 20 Aug 2026 | −6.9% | +12.3% |
| 25 Aug 2026 | −1.4% | +16.7% |
| 28 Aug 2026 | +0.8% | +17.5% |
| 2 Sep 2026 | +4.4% | +23.8% |
| 8 Sep 2026 | +7.1% | +25.3% |
| 11 Sep 2026 | +8.0% | +25.2% |
| 16 Sep 2026 | +8.2% | +24.1% |
| 21 Sep 2026 | +11.5% | +24.8% |
| 24 Sep 2026 | +7.4% | +23.0% |
| 29 Sep 2026 | +8.0% | +22.9% |
| 2 Oct 2026 | +12.7% | +28.5% |
| 7 Oct 2026 | +28.0% | +36.6% |
| 13 Oct 2026 | +29.9% | +38.3% |
| 16 Oct 2026 | +28.6% | +37.4% |
| 21 Oct 2026 | +27.9% | +38.1% |
| 26 Oct 2026 | +0.9% | +18.1% |
| 29 Oct 2026 | +0.4% | +13.1% |
| 30 Oct 2026 | −1.4% | +12.3% |
Valuation
- Price to earningsPrice ÷ last 12 months’ earnings per share
- 11.0×
- Price to bookPrice ÷ equity per share
- 2.0×
- EV to EBITDA
- 7.9×
- Dividend yieldLast 12 months
- 14.1%
- Market value
- R$ 88.6 bn
Profitability
- Return on equity
- 17.8%
- Return on assets
- 6.7%
- Gross margin
- 35.7%
- EBITDA margin
- 37.9%
- Net margin
- 19.7%
Growth
- Revenue, latest quarter vs a year ago
- +1.6%
- Earnings, latest quarter vs a year ago
- −28.0%
- Revenue, last full year
- +5.4%
- Earnings, last full year
- −11.7%
Balance sheet
- Cash
- R$ 17.4 bn
- Total debt
- R$ 51.7 bn
- Net debt to EBITDA
- 2.2×
- Debt to equity
- 1.14
- Current ratio
- 1.47
Risk, last 12 months
- Total returnIncluding dividends
- −1.4%
- VolatilityAnnualised, daily returns
- 38%
- Largest fall from a peak
- −33.8%
- Beta to the Ibovespa1.0 moves with the index
- 1.28
- Below its 12-month high
- −29.8%
Dividends
- Paid per share, last 12 months
- R$ 3.4773
Five years of results
| Year | Revenue | Net income | Earnings per share | Equity | Return on equity |
|---|---|---|---|---|---|
| 2025 | R$ 38.1 bn | R$ 8.5 bn | R$ 12.37 | R$ 42.4 bn | 20.0% |
| 2024 | R$ 36.1 bn | R$ 9.6 bn | R$ 14.02 | R$ 36.9 bn | 25.9% |
| 2023 | R$ 25.6 bn | R$ 3.5 bn | R$ 5.16 | R$ 29.9 bn | 11.8% |
| 2022 | R$ 22.1 bn | R$ 3.1 bn | R$ 4.57 | R$ 27.3 bn | 11.4% |
| 2021 | R$ 19.5 bn | R$ 2.3 bn | R$ 3.37 | R$ 24.9 bn | 9.2% |
Annual consolidated statements as reported to the CVM, via brapi.
Company profile
- Sector
- Saneamento
- Industry
- Água e Saneamento
- Employees
- 14,980
- Website
- www.sabesp.com.br/
Data as of the close of 30 Oct 2026. Market data from brapi.dev; financial statements as filed with the CVM. Ratios are provider estimates and may differ from company reports.