Eneva S.A (ENEV3) Fair Value & Analysis
Utilities · BR · Market cap R$49.1B
Fair value as of: Jul 18, 2026
From 16 valuation models · updated 20 days ago
Share price +3.6% over the past month.
Below-average quality, and screening another 65% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (R$11.57). The favourable scenario is already priced in.
- Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.
How to read this chart
60‑month range R$9.55 – R$27.59 · fair‑value band R$6.94 – R$11.57 · the R$26.60 price screens above the R$9.26 fair value. Dashed = 300-day average. As of Jul 18, 2026.
Analysis
Eneva S.A (ENEV3) currently trades at R$26.60, while our model-based Fair Value estimate is R$9.26, implying the stock looks roughly 65.2% overvalued today. We read business quality at 49/100 (below-average quality), in the Utilities sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Eneva S.A generated revenue of R$18.7B at a net margin of 6.9%. Revenue grew 5.8% year over year. It earns a return on equity of 8.7%. Net debt stands at R$21.2B. Fundamentals as of Jul 18, 2026
Our scenario range runs from R$6.94 (bear case) to R$11.57 (bull case); at R$26.60, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 5% below its 52-week high and 105% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at -48% fair-value upside, at -65%, ENEV3 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 16 models by family
Widest divergence: Growth Earnings (R$27.29) versus Dividend Discount (R$1.97). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 32 · Market factors (momentum, volatility) 80
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Eneva S.A., an integrated energy company, engages in the exploration, production, and commercialization of natural gas and liquids in Brazil. The company generates electricity through natural gas, steam, coal, and solar energy.
Full company description
Eneva S.A., an integrated energy company, engages in the exploration, production, and commercialization of natural gas and liquids in Brazil. The company generates electricity through natural gas, steam, coal, and solar energy. It also supplies natural gas solutions to the on-grid and off-grid market for thermal power plants, pipeline operators, and industrial clients; including transportation, LNG regasification, and floating storage. The company was formerly known as MPX Energia S.A. and changed its name to Eneva S.A. in October 2013. Eneva S.A. was incorporated in 2001 and is headquartered in Rio De Janeiro, Brazil.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Eneva S.A reported revenue of R$18.4B in FY2025 versus R$5.1B in FY2021, a compound +37.7%/yr. Reported net income was R$1.2B in FY2025, compounding −0.3%/yr from FY2021.
ENEV3 screens 65% overvalued. Compare with Iberdrola, S.A →
Peer Group
Utilities - Diversified · 51 stocks
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.
Valuation Multiples vs Utilities - Diversified median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Utilities - Diversified stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Iberdrola, S.A IBE | €21.25 | €9.34 | -56% |
| Enel SpA ENEL | €10.28 | €5.83 | -43% |
| Engie SA 1ENGI | €26.59 | €17.39 | -35% |
| Sempra SRE | $93.15 | $47.77 | -49% |
| E.ON SE EOAN | €19.34 | €11.71 | -39% |
| RWE Aktiengesellschaft generates and 1RWE | €56.52 | €29.64 | -48% |
| ACWA Power Company 2082 | 198.20 SAR | 25.38 SAR | -87% |
| Brookfield Infrastructure Partners L.P. BIPUN | C$55.05 | C$17.66 | -68% |
| EnBW Energie Baden-Württemberg AG EBK | €69.00 | €21.11 | -69% |
| EDP, S.A EDP | €4.41 | €3.81 | -14% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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