CASAN - Companhia Catarinense de Aguas e Saneamento (CASN3) fair value: what the stock is really worth
As of Oct 28, 2026: fair value (intrinsic value) of CASAN - Companhia Catarinense de Aguas e Saneamento stock BRL 4.72, price BRL 6.02, that is 21.6% below the price, quality 48 out of 100. Rating: overvalued. Calculated from audited financials with 14 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range R$6.00 – R$11.69 · fair‑value band R$3.40 – R$6.50 · the R$6.02 price screens above the R$4.72 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 6, 2026.
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Companhia Catarinense de Águas e Saneamento " CASAN engages in the water supply business in Santa Catarina and Parana, Brazil. It is also involved in the collection, removal, and treatment of sanitary sewage.
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Companhia Catarinense de Águas e Saneamento " CASAN was founded in 1970 and is headquartered in Florianópolis, Brazil.
Stock analysis
CASAN - Companhia Catarinense de Aguas e Saneamento (CASN3) currently trades at R$6.02, while our model-based Fair Value estimate is R$4.72, 22% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of R$5.38 per share, and 1 of the 14 models we run sit above the R$6.02 price.
Bear case: the Dividend Discount group reads lowest at R$0.8500, and 13 of the 14 models stay below the price. Data coverage for this calculation is medium.
Scenario range: R$3.40 (bear) to R$6.50 (bull), the price of R$6.02 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 48/100 (below-average quality), in the Utilities sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
CASAN - Companhia Catarinense de Aguas e Saneamento reported revenue of R$2.2B in FY2025 versus R$1.2B in FY2021, a compound +15.5%/yr. Reported net income was R$387M in FY2025, compounding +30.1%/yr from FY2021.
Key figures
Market cap R$7.2B (≈ $1.3B) Small · P/E ratio 120.0 · P/S ratio 21.4 · EPS (TTM) R$0.0500 · Dividend yield 0.1% · Net margin 17.9% · Return on equity 16.2% · Return on assets (EBIT) 7.8% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 68 out of 100 (low confidence).
What moves the price
The share trades about 42% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −43% fair-value upside, at −22%, CASN3 screens cheaper than that median.
Fair Value models
BearR$3.40Fair Value R$4.72BullR$6.50
Price R$6.02 · Downside -21.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (R$0.0385 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.61/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+11.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.6%
Start year 2020 (pandemic). Over 10 years: +10.5% a year
Revenue growth 18 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.2%
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What shareholders gained per year (last 5 years), in BRL (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in BRL: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+14.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+14.1%
Dividend (yield on the price)0.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.20.5% vs 25.8%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.20% → 30%
2025 sits 263% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Compare CASAN - Companhia Catarinense de Aguas e Saneamento with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Utilities - Regulated Water · 64 stocks
Beats the industry median on 6/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score48 · Above median
Fair Value upside−21.6% · Above median
Profitability
Return on equity (12 months)16.2% · Top 25%
Return on assets6.3% · Top 25%
Net margin (12 months)17.9% · Above median
Operating margin (12 months)28.6% · Above median
Growth and dividend
Revenue growth (quarter YoY)4.8% · Below median
Dividend yield (12 months)0.1% · Bottom 25%
Balance sheet
Debt / equity0.90× · Above median
Valuation Multiplesvs Utilities - Regulated Water median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "CASAN - Companhia Catarinense de Aguas e Saneamento Fair Value". https://www.fairvalue-calculator.com/stock/CASN3
Frequently asked questions
Is CASAN - Companhia Catarinense de Aguas e Saneamento (CASN3) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of R$4.72 versus the last price from Oct 28, 2026 of R$6.02, about 22% lower (overvalued).
What is the fair value of CASN3?
Our model-based fair value for CASAN - Companhia Catarinense de Aguas e Saneamento is R$4.72 (as of Nov 6, 2026), built from audited fundamentals. Last price (from Oct 28, 2026): R$6.02.
What is the quality score of CASN3?
CASAN - Companhia Catarinense de Aguas e Saneamento has a Quality Score of 48/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for CASAN - Companhia Catarinense de Aguas e Saneamento (CASN3)?
Our model-based price target is the fair value of R$4.72 (as of Nov 6, 2026) from 14 valuation models. Cautious scenario R$3.40, optimistic scenario R$6.50. It is a calculation from audited fundamentals, not an analyst target.
What is the CASAN - Companhia Catarinense de Aguas e Saneamento stock forecast for 2026?
Our models put fair value at R$4.72, about 22% lower versus the last price from Oct 28, 2026 of R$6.02 (overvalued). Cautious scenario R$3.40, optimistic scenario R$6.50. The calculation is refreshed regularly with new filings.
What is the revenue of CASAN - Companhia Catarinense de Aguas e Saneamento (CASN3)?
CASAN - Companhia Catarinense de Aguas e Saneamento reported trailing-twelve-month revenue of about R$2.1B (latest available figure, as of Nov 6, 2026).
Does CASAN - Companhia Catarinense de Aguas e Saneamento pay a dividend?
CASAN - Companhia Catarinense de Aguas e Saneamento currently shows a dividend yield of 0.08% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of CASAN - Companhia Catarinense de Aguas e Saneamento (CASN3) and when is the ex-dividend date?
CASAN - Companhia Catarinense de Aguas e Saneamento pays a dividend of R$0.005 per share a year, a dividend yield of 0.1%. The last ex-dividend date was Dec 23, 2025. A dividend has been paid every year since 2022. The payout ratio is 10.0% of earnings. Our assessment: Token dividend. At a yield of 0.1% the dividend is symbolic. On paper it is not fully covered by earnings or free cash flow, but at this size that hardly matters: even scrapping it entirely would cost less than 0.1% a year, and coverage ratios on amounts this small swing with ordinary working-capital movements. Judge this company on its business, not on its dividend.
What is the intrinsic value of CASAN - Companhia Catarinense de Aguas e Saneamento (CASN3)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For CASAN - Companhia Catarinense de Aguas e Saneamento it is R$4.72 per share (as of Nov 6, 2026), against a price of R$6.02. It is the blended result of 14 valuation models in 5 families (Earnings-Based, Dividend Discount, Multiples, Economic Profit, Growth Earnings).
Is CASAN - Companhia Catarinense de Aguas e Saneamento stock overvalued or undervalued in 2026?
As of Nov 6, 2026, CASN3 trades above its calculated fair value: price R$6.02, fair value R$4.72, a gap of about −22% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CASN3?
No. The price is what the market pays today (R$6.02); the fair value is what the company's own numbers justify (R$4.72). For CASAN - Companhia Catarinense de Aguas e Saneamento the two are R$1.30 per share apart. That gap is exactly why we show both numbers side by side.
How much is CASAN - Companhia Catarinense de Aguas e Saneamento worth?
The market values CASAN - Companhia Catarinense de Aguas e Saneamento at about R$7.2B (market capitalisation, as of Nov 6, 2026). Per share that is R$6.02; our models calculate a fair value of R$4.72 per share.
What do the bullish and bearish scenarios say about CASN3?
Our models span a range for CASAN - Companhia Catarinense de Aguas e Saneamento: cautious scenario R$3.40, base R$4.72, optimistic R$6.50 per share (as of Nov 6, 2026, price R$6.02). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CASN3?
CASAN - Companhia Catarinense de Aguas e Saneamento trades at a price-to-earnings ratio of 120.0 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R$4.72 is built from several models across several years. Median P/E at fiscal year-end, 8 fiscal years (2016 to 2025), reported earnings: 97.2.
How solid is the balance sheet of CASAN - Companhia Catarinense de Aguas e Saneamento (CASN3)?
Balance-sheet figures for CASAN - Companhia Catarinense de Aguas e Saneamento (as of Nov 6, 2026): return on equity 16.2%, debt of 0.90 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is CASN3 from its 52-week high?
CASAN - Companhia Catarinense de Aguas e Saneamento trades at R$6.02, about 42% below its 52-week high of R$10.45 and at the low of R$6.00 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of R$4.72 is for.
Which stocks are comparable to CASAN - Companhia Catarinense de Aguas e Saneamento?
From the same area (Utilities) we also value American Water Works Company, Essential Utilities, Inc, Grandblue Environment Co, American States Water Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is CASAN - Companhia Catarinense de Aguas e Saneamento stock attractive at the current price?
The data as of Nov 6, 2026: price R$6.02, calculated fair value R$4.72 (−22%), Quality Score 48/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CASN3 calculated?
We run CASAN - Companhia Catarinense de Aguas e Saneamento through 14 models from 5 families: Earnings-Based, Dividend Discount, Multiples, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of R$4.72 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. CASAN - Companhia Catarinense de Aguas e Saneamento itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of CASAN - Companhia Catarinense de Aguas e Saneamento (CASN3)?
The latest price we hold is from Oct 28, 2026 and stands at R$6.02. Our model-based fair value is R$4.72, about 22% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with CASAN - Companhia Catarinense de Aguas e Saneamento right now?
Weak quality (48/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (R$3.40 to R$6.50) leaves room in how you read the outcome.
Where does the earnings growth of CASAN - Companhia Catarinense de Aguas e Saneamento (CASN3) come from?
Earnings per share at CASAN - Companhia Catarinense de Aguas e Saneamento grew +18.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +6.5 %, EBIT margin +3.3 %, tax rate +1.3 %, residual (interest, one-offs) +6.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of CASAN - Companhia Catarinense de Aguas e Saneamento
How large is the market capitalisation of CASAN - Companhia Catarinense de Aguas e Saneamento (CASN3)?
The market capitalisation of CASAN - Companhia Catarinense de Aguas e Saneamento is R$7.2B (≈ $1.3B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of CASAN - Companhia Catarinense de Aguas e Saneamento (CASN3)?
The price-to-sales ratio of CASAN - Companhia Catarinense de Aguas e Saneamento is 21.4 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of CASAN - Companhia Catarinense de Aguas e Saneamento (CASN3)?
Earnings per share at CASAN - Companhia Catarinense de Aguas e Saneamento are R$0.0500 (price ÷ EPS = P/E 120.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of CASAN - Companhia Catarinense de Aguas e Saneamento (CASN3)?
The dividend yield of CASAN - Companhia Catarinense de Aguas e Saneamento is 0.1% (payout 10.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of CASAN - Companhia Catarinense de Aguas e Saneamento (CASN3)?
The net margin of CASAN - Companhia Catarinense de Aguas e Saneamento is 17.9% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of CASAN - Companhia Catarinense de Aguas e Saneamento (CASN3)?
The return on equity (ROE) of CASAN - Companhia Catarinense de Aguas e Saneamento is 16.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of CASAN - Companhia Catarinense de Aguas e Saneamento (CASN3)?
On an EBIT basis the return on assets of CASAN - Companhia Catarinense de Aguas e Saneamento is 7.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of CASAN - Companhia Catarinense de Aguas e Saneamento (CASN3)?
The operating margin of CASAN - Companhia Catarinense de Aguas e Saneamento is 28.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at CASAN - Companhia Catarinense de Aguas e Saneamento (CASN3)?
Revenue at CASAN - Companhia Catarinense de Aguas e Saneamento is growing +4.8% versus a year earlier (3y avg +15.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at CASAN - Companhia Catarinense de Aguas e Saneamento (CASN3)?
Earnings per share at CASAN - Companhia Catarinense de Aguas e Saneamento are growing +49.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does CASAN - Companhia Catarinense de Aguas e Saneamento (CASN3) generate?
The free cash flow of CASAN - Companhia Catarinense de Aguas e Saneamento is −R$261M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does CASAN - Companhia Catarinense de Aguas e Saneamento (CASN3) carry?
The net debt of CASAN - Companhia Catarinense de Aguas e Saneamento is R$2.8B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 6, 2026