Fact based stock research
Companhia de Saneamento de Minas Gerais (BOVESPA:CSMG3)

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

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Companhia de Saneamento de Minas Gerais stock research in summary

copasa.com.br

ANALYSIS: With an Obermatt Combined Rank of 80 (better than 80% compared with investment alternatives), Companhia de Saneamento de Minas Gerais (Water Utilities, Brazil) shares have much better financial characteristics than comparable stocks. Shares of Companhia de Saneamento de Minas Gerais are a good value (attractively priced) with a consolidated Value Rank of 94 (better than 94% of alternatives), show above-average growth (Growth Rank of 54), and are safely financed (Safety Rank of 60), which means low debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 80, is a strong buy recommendation based on Companhia de Saneamento de Minas Gerais's financial characteristics. As the company Companhia de Saneamento de Minas Gerais's key financial metrics all exhibit excellent performance, such as good value (Obermatt Value Rank of 94), above-average growth (Obermatt Growth Rank of 54), and indicate that the company is safely financed (Obermatt Safety Rank of 60), it is a solid stock investment where the risk of paying too much for the share is limited, unless the company has a bleak future. Such good financial performance can indicate that the company's future might actually be challenging, as it may be difficult to maintain the good performance. If they are safely financed and have been growing above average, and are still a good value, it means that the market is keeping prices low, for a reason which may become clearer over time. We recommend evaluating the future of Companhia de Saneamento de Minas Gerais. If you believe the company's future is market-typical or even better, this could be an argument for a share purchase. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	94
Growth Rank	54
Safety Rank	60
Combined Rank	80

Country	Brazil
Industry	Water Utilities
Index
Size class	Medium

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Companhia de Saneamento de Minas Gerais

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	98	96	96	94
GROWTH
GROWTH	17	81	78	54
SAFETY
SAFETY	83	57	74	60
SENTIMENT
SENTIMENT	12	61	6	^new
360° VIEW
360° VIEW	50	94	76	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better Companhia de Saneamento de Minas Gerais is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	98	96	96	94
GROWTH
GROWTH	17	81	78	54
SAFETY
SAFETY	83	57	74	60
COMBINED
COMBINED	82	92	96	80

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Companhia de Saneamento de Minas Gerais the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 94 (better than 94% compared with alternatives) for 2025, Companhia de Saneamento de Minas Gerais shares are significantly less expensive than comparable stocks. The Value Rank is based on consolidating four value indicators that are all above average for Companhia de Saneamento de Minas Gerais. Price-to-Sales is 68 which means that the stock price compared with what market professionals expect for future sales is lower than for 68% of comparable companies, indicating a good value for Companhia de Saneamento de Minas Gerais's revenue size. The same is valid for expected Price-to-Profits, more favorable than for 100% of alternatives, and this is also true for the Price-to-Book capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 71. Compared with other companies in the same industry, dividend yields of Companhia de Saneamento de Minas Gerais are expected to be higher than for 83% of all competitors (a Dividend Yield rank of 83). ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 94, is a buy recommendation based on Companhia de Saneamento de Minas Gerais's stock price compared with the company's operational size and dividend yields. Since all value metrics are above the industry average, there is no objection to investing in Companhia de Saneamento de Minas Gerais based on its detailed value metrics. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	87	74	72	68
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	100	95	100	100
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	92	86	74	71
DIVIDEND YIELD
DIVIDEND YIELD	75	89	94	83
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	98	96	96	94

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Companhia de Saneamento de Minas Gerais; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 54 (better than 54% compared with alternatives), Companhia de Saneamento de Minas Gerais shows an above-average growth dynamic in its industry. Investors also speak of positive momentum. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Companhia de Saneamento de Minas Gerais. Capital Growth has a rank of 51, which means that currently professionals expect the company to grow its invested capital more than 38% of its competitors. Investors welcomed this, visible in the Stock Returns rank of 80 (above 80% of alternative investments). But Sales Growth has only a rank of 30, which means that, currently, professionals expect the company to grow less than 70% of its competitors, and Profit Growth is also low at a rank of 38. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 54, is a buy recommendation for growth and momentum investors. This is an ambiguous picture. Revenue growth and capital growth are strong, but the growth in profit, which seems good, can also be an indication that growth momentum may be negative. The fact that stock returns have been above average doesn't help much, as stock returns are less reliable in showing a company’s future growth potential. Prices may perform well for the simple reason that investors were too pessimistic in the past and are now correcting their opinions and moving the stock price to a more reasonable level. As the growth picture is mixed for Companhia de Saneamento de Minas Gerais, investors may want to look at value and sentiment indicators for a well-rounded picture of this stock. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	29	51	71	30
PROFIT GROWTH
PROFIT GROWTH	18	75	36	38
CAPITAL GROWTH
CAPITAL GROWTH	68	48	63	51
STOCK RETURNS
STOCK RETURNS	15	71	90	80
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	17	81	78	54

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Companhia de Saneamento de Minas Gerais.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 60 (better than 60% compared with alternatives), the company Companhia de Saneamento de Minas Gerais has financing practices on the safer side, which mean that their overall debt burden is lower than average. This doesn't mean that the business of Companhia de Saneamento de Minas Gerais is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with two out of three indicators above average for Companhia de Saneamento de Minas Gerais. Leverage is at a rank of 57, meaning the company has a below-average debt-to-equity ratio. It has less debt than 57% of its competitors. Liquidity is also good at a rank of 75, meaning the company generates more profit to service its debt than 75% of its competitors. This indicates that the company is on the safer side when it comes to debt service. But Refinancing is lower at a rank of 36, which means that the portion of the debt that is about to be refinanced is above-average. It has more debt in the refinancing stage than 64% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 60 (better than 60% compared with alternatives), Companhia de Saneamento de Minas Gerais has a financing structure that is safer than that of its competitors. The refinancing issues could be a short-term problem, especially if the company has reputation issues. Banks and investors don't like to refinance debt if there are clouds on the horizon. For this reason, investors should look at the refinancing environment for Companhia de Saneamento de Minas Gerais. Does it look safe that debt that is coming due can be covered with new debt? If that is the case, then the financing situation of the company is on the safer side. If not, it may be better to wait until refinancing has been completed and the Refinancing rank is good again. Investors may have a short-term debt challenge with Companhia de Saneamento de Minas Gerais and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	64	64	65	57
REFINANCING
REFINANCING	71	59	51	36
LIQUIDITY
LIQUIDITY	77	57	76	75
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	83	57	74	60

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Companhia de Saneamento de Minas Gerais and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	38	33	^new
OPINIONS CHANGE
OPINIONS CHANGE	50	75	27	^new
PRO HOLDINGS
PRO HOLDINGS	68	100	42	^new
MARKET PULSE
MARKET PULSE	9	11	9	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	12	61	6	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Companhia de Saneamento de Minas Gerais.
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