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Energisa Mato Grosso - Distribuidora de Energia S/A (ENMT3) Fair Value & Analysis

Utilities · BR · Market cap R$7.9B

EM Energisa Mato Grosso - Distribuidora de Energia S/A ENMT3 · SA
PriceR$35.98
Fair ValueR$66.51
Upside+84.9%
Quality39/100
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Expensive Growth
Thin margins · 7.8% net margin
High debt · negative free cash flow
9.56% dividend yield
Ranks above peers (9/13)
Moderate moat 58/100
Evidence: High Range R$46.56 – R$86.46 Share as image

Fair value as of: Jul 17, 2026

From 16 valuation models · updated 23 days ago

Fair value updated Jul 17, 2026, revised from R$61.75 to R$66.51 (+7.7%) since Jun 24, 2026. Share price −4.1% over the past month.

Below-average quality, screening 85% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (39/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (R$46.56). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (R$46.56 to R$86.46) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

R$80.78 R$35.00 Fair Value R$66.51 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range R$35.00 – R$80.78 · fair‑value band R$46.56 – R$86.46 · the R$35.98 price screens below the R$66.51 fair value. Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Energisa Mato Grosso - Distribuidora de Energia S/A (ENMT3) currently trades at R$35.98, while our model-based Fair Value estimate is R$66.51, implying the stock looks roughly 84.9% undervalued today. The Quality Score stands at 39/100 (below-average quality), in the Utilities sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Energisa Mato Grosso - Distribuidora de Energia S/A generated revenue of R$9.3B at a net margin of 7.8%. Revenue grew 16.2% year over year. It earns a return on equity of 18.4%. Net debt stands at R$8.5B. Fundamentals as of Jul 17, 2026

Our scenario range runs from R$46.56 (bear case) to R$86.46 (bull case); at R$35.98, the current price sits below 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 47% below its 52-week high, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -27% fair-value upside, at 85%, ENMT3 screens cheaper 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.

Model BearBaseBull Evidence
Highest evidence
Residual Income R$23.52 R$28.32 R$67.95 76
ROIC Compounder R$36.21 R$60.13 R$92.39 72
Gordon GGM R$48.29 R$96.23 R$145.71 70
All 16 models by family
Earnings-Based
Graham-Dodd R$27.06 R$118.76 R$162.52 54
Lynch FV R$30.67 R$43.81 R$56.96 50
PEG = 1.0 R$30.67 R$43.81 R$56.96 46
EPV R$31.11 R$41.83 R$51.08 59
Dividend Discount
Gordon GGM R$48.29 R$96.23 R$145.71 70
DDM Multi-Stage R$48.29 R$83.16 R$101.57 61
Multiples
P/E Multiple R$53.72 R$71.63 R$89.54 63
P/S Multiple R$50.74 R$67.65 R$84.56 58
P/B Multiple R$24.25 R$32.33 R$40.41 55
EV/EBIT R$56.57 R$87.69 R$118.81 53
EV/EBITDA R$38.61 R$63.74 R$88.88 54
EV/Revenue R$35.00 R$65.77 R$96.54 43
Asset-Based
NCAV (Graham) R$8.98 R$12.03 R$17.96 50
Economic Profit
Residual Income R$23.52 R$28.32 R$67.95 76
ROIC Compounder R$36.21 R$60.13 R$92.39 72
Growth Earnings
Growth-Adj P/E R$46.56 R$66.51 R$86.46 68

Widest divergence: Dividend Discount (R$83.16) versus Asset-Based (R$12.03). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) R$9.3B
Revenue growth (YoY) +16.2%
Net margin 7.8%
Return on equity 18.4%
Free cash flow −R$1.1B FY2025
P/E ratio 11.6
More key figures
Operating margin 19.2%
EPS (TTM) R$3.12
Dividend yield 9.6%
EPS growth (YoY) -49.6%
Net debt R$8.5B FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 39/100

Of which business quality 36 · Market factors (momentum, volatility) 21

Profitability 47
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 15
Earnings quality: real cash, not paper profit
Fin. Strength 16
Balance sheet, leverage, solvency risk
Investment 36
Disciplined investing over empire-building
Low Volatility 61
Calm price path (market factor)
Momentum 5
Price trend over the last 3–12 months (market factor)
52W Momentum 4
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

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

Energisa Mato Grosso - Distribuidora de Energia S/A operates as an electricity distributor in Mato Grosso. The company was formerly known as Centrais Elétricas Matogrossenses and changed its name to Energisa Mato Grosso - Distribuidora de Energia S/A in February 2015. The company was founded in 1905 and is headquartered in Cuiabá, Brazil.

Full company description

Energisa Mato Grosso - Distribuidora de Energia S/A operates as an electricity distributor in Mato Grosso. The company was formerly known as Centrais Elétricas Matogrossenses and changed its name to Energisa Mato Grosso - Distribuidora de Energia S/A in February 2015. The company was founded in 1905 and is headquartered in Cuiabá, Brazil. Energisa Mato Grosso - Distribuidora de Energia S/A is a subsidiary of Rede Energia Participações S.A.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Energisa Mato Grosso - Distribuidora de Energia S/A reported revenue of R$9.0B in FY2025 versus R$6.8B in FY2021, a compound +7.2%/yr. Reported net income was R$871M in FY2025, compounding −3.8%/yr from FY2021.

Growth Quality 57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
R$9.0B
Latest YoY
+9.3%
Avg. growth/yr (3Y)
+8.0%
Avg. growth/yr (5Y)
+13.8%
Avg. growth/yr (25Y)
+12.4%
Revenue +7.2%/yr
FY21 R$6.8B
FY22 R$7.1B
FY23 R$7.6B
FY24 R$8.2B
FY25 R$9.0B
Net income −3.8%/yr
FY21 R$1.0B
FY22 R$1.2B
FY23 R$1.4B
FY24 R$1.1B
FY25 R$871M

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Cite: Fair Value Calculator (2026). "Energisa Mato Grosso - Distribuidora de Energia S/A Fair Value". https://www.fairvalue-calculator.com/stock/ENMT3

Peer Group

Utilities - Regulated Electric · 154 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.

Quality Score 39 · Bottom 25%
Fair Value upside +85% · Top 25%
Return on equity (TTM) 18% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 8% · Below median
Operating margin (TTM) 19% · Above median
Revenue growth 16% · Top 25%
Dividend yield (TTM) 9.6% · Top 25%
Debt / equity 2.09× · Higher than 75% of peers

Valuation Multiples vs Utilities - Regulated Electric median · lower = cheaper

P/E (TTM) 11.6× · Cheaper than median
P/B 2.02× · Pricier than median
P/S (TTM) 0.85× · Cheaper than median
EV/EBITDA 7.3× · Cheaper than median

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 100 · sector 7
FUTURE 81 · sector 32
PAST 74 · sector 39
HEALTH 0 · sector 54
DIVIDEND 100 · sector 56

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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 - Regulated Electric stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
NextEra Energy, Inc NEE $88.80 $32.94 -63%
The Southern Company SO $95.61 $61.06 -36%
Duke Energy Corporation DUK $126.11 $97.11 -23%
National Grid plc NGG 61,175 ARS 44,377 ARS -27%
American Electric Power Company AEP $132.50 $79.33 -40%
Dominion Energy, Inc D $70.08 $46.92 -33%
NTPC Limited NTPC ₹341.85 ₹377.16 +10%
CEZ, a. s. CEZ 232.40 PLN 159.33 PLN -31%
Power Grid Corporation POWERGRID ₹283.55 ₹252.77 -11%
China National Nuclear Power Co 601985 ¥8.91 ¥7.69 -14%

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Frequently asked questions

Is Energisa Mato Grosso - Distribuidora de Energia S/A (ENMT3) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of R$66.51 versus a price of R$35.98, about +85% (undervalued).
What is the fair value of ENMT3?
Our model-based fair value for Energisa Mato Grosso - Distribuidora de Energia S/A is R$66.51 (as of Jul 17, 2026), built from audited fundamentals. The current price is R$35.98.
What is the quality score of ENMT3?
Energisa Mato Grosso - Distribuidora de Energia S/A has a Quality Score of 39/100. 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 revenue of Energisa Mato Grosso - Distribuidora de Energia S/A (ENMT3)?
Energisa Mato Grosso - Distribuidora de Energia S/A reported trailing-twelve-month revenue of about R$9.3B (latest available figure, as of Jul 17, 2026).
What is the net profit margin of ENMT3?
The net profit margin of Energisa Mato Grosso - Distribuidora de Energia S/A is about 7.8%, meaning it keeps roughly 7.8% of revenue as net income. Based on the latest reported figures.
Does Energisa Mato Grosso - Distribuidora de Energia S/A pay a dividend?
Energisa Mato Grosso - Distribuidora de Energia S/A currently shows a dividend yield of about 8.96% relative to its recent price (as of Jul 17, 2026).

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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