Fact based stock research
Eneva (BOVESPA:ENEV3)

BRENEVACNOR8

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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).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Eneva stock research in summary

eneva.com.br

ANALYSIS: With an Obermatt Combined Rank of 22 (worse than 78% compared with investment alternatives), Eneva (Power Producers & Traders, Brazil) shares have lower financial characteristics compared with similar stocks. Shares of Eneva are low in value (priced high) with a consolidated Value Rank of 26 (worse than 74% of alternatives), show below-average growth (Growth Rank of 42), and are riskily financed (Safety Rank of 35), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 22, is a sell recommendation based on Eneva's financial characteristics. As the company Eneva's key financial metrics all exhibit below-average performance, such as low value (Obermatt Value Rank of 26), low growth (Obermatt Growth Rank of 42), and risky financing practices (Obermatt Safety Rank of 35), it is a somewhat questionable stock investment, where the risk of paying too much for the shares is significant, unless the company has an exceptionally bright future. Such poor financial performance sometimes indicates that the company's business is all concentrated in some distant future. This is sometimes the case for high-tech or biotechnology companies. If they own properties that only provide cash flows in the future, the stock may look excessively expensive and risky today. In such cases, the Obermatt Method has limited value as it is based on facts we can observe today. If the facts are all in the future, stock investing becomes guesswork, and this should only be a driver in a limited number of investments that should only amount to a small fraction of a safe portfolio. 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	26
Growth Rank	42
Safety Rank	35
Combined Rank	22

Country	Brazil
Industry	Power Producers & Traders
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

Multiple opinions. One number.

Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

Why popular stocks have low ratings

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

Research History: Eneva

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	38	30	32	26
GROWTH
GROWTH	9	39	74	42
SAFETY
SAFETY	57	13	10	35
SENTIMENT
SENTIMENT	33	1	40	^new
360° VIEW
360° VIEW	12	1	26	^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 Eneva is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	38	30	32	26
GROWTH
GROWTH	9	39	74	42
SAFETY
SAFETY	57	13	10	35
COMBINED
COMBINED	14	10	24	22

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Eneva the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 26 (worse than 74% compared with alternatives), Eneva shares are more expensive than the average comparable stock. The Value Rank is based on consolidating four value indicators where three out of four are below average for Eneva. Only the Price-to-Book Capital ratio (also referred to as market-to-book ratio) indicates good stock value with a Price-to-Book Rank of 63, which means that the stock price is lower compared with invested capital than for 63% of comparable investments. All other value indicators are below the market median. Price-to-Sales is 21 which means the stock price compared with what market professionals expect for future profits is higher than 79% of comparable companies, indicating a low value concerning Eneva's revenue levels. The same is valid for the Price-to-Book Capital ratio (also referred to as market-to-book ratio) with a Price-to-Book Rank of 63 and for the dividend yields rank which is lower than for 81% of comparable companies, making the stock more expensive as regards to with the company's expected dividend payouts. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 26, is a hold recommendation based on Eneva's stock price compared with the company's operational size and dividend yields. Why are market participants paying such a high price for Eneva, where three out of four value indicators are below par? One reason could be that the company is well financed, indicated by the high book capital level, and has a promising future that is not yet visible in reported revenues and profits. That would also explain the low dividend yield because the company needs the cash to invest in its future. If investors can verify a picture in this sense, the stock may still be a good investment, even though current company-reported financials don't fully explain current stock prices. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	34	31	32	21
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	62	30	40	48
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	48	57	67	63
DIVIDEND YIELD
DIVIDEND YIELD	30	21	26	19
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	38	30	32	26

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

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 42 (better than 42% compared with alternatives), Eneva shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Eneva. Profit Growth has a rank of 100, which means that currently professionals expect the company to grow its profits more than 100% of its competitors. This is a good sign for shareholders, which is confirmed by an above-average Stock Returns rank of 60 (above 60% of alternative investments). But Sales Growth has a below the median rank of 4, which means that, currently, professionals expect the company to grow less than 96% of its competitors, and Capital Growth also has a lower rank of 21. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 42, is a hold recommendation for growth and momentum investors. Because revenues and invested capital are the more solid growth indicators, the positive development on the profit side is less relevant. It may have been caused by cost-cutting, which may be a negative growth indicator. Finally, the above-average stock returns recently are a thing of the past and not a good indicator of future returns. Investors should be confident that the cost-cutting initiative leading to higher profits is to benefit the company's future. If not, there is little growth momentum, and investment is only advisable if the Value Ranks suggest a good investment timing for Eneva. 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	77	18	96	4
PROFIT GROWTH
PROFIT GROWTH	20	84	98	100
CAPITAL GROWTH
CAPITAL GROWTH	12	29	11	21
STOCK RETURNS
STOCK RETURNS	11	43	46	60
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	9	39	74	42

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Eneva.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 35 (better than 35% compared with alternatives), the company Eneva has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of Eneva is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for Eneva and the other two below average. Refinancing is at 56, meaning the portion of the debt about to be refinanced is below average. It has less debt in the refinancing stage than 56% of its competitors. But Leverage is high with a rank of 45, meaning the company has an above-average debt-to-equity ratio. It has more debt than 55% of its competitors. Liquidity is also on the riskier side with a rank of 22, meaning the company generates less profit to service its debt than 78% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 35 (worse than 65% compared with alternatives), Eneva has a financing structure that is riskier than that of its competitors. A good Refinancing Rank means that the problems of the company may not be around the corner. But high Leverage is only good if things go well, and low Liquidity is a signal for caution. The financing signals for Eneva are on the riskier side, requiring the company's future to be on the safer side. Investors may want to look at Growth and Sentiment ranks before making an investment decision. In the long-term, investors may have a debt challenge with Eneva 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	48	20	27	45
REFINANCING
REFINANCING	55	47	39	56
LIQUIDITY
LIQUIDITY	57	13	18	22
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	57	13	10	35

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Eneva 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	48	59	^new
OPINIONS CHANGE
OPINIONS CHANGE	83	11	28	^new
PRO HOLDINGS
PRO HOLDINGS	11	14	54	^new
MARKET PULSE
MARKET PULSE	12	21	29	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	33	1	40	^new

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