Equatorial Pará Distribuidora de Energia S.A (EQPA3) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Equatorial Pará Distribuidora de Energia S.A BRL 11.83, price BRL 5.48, upside +115.9%, quality 44 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range R$3.32 – R$7.23 · fair‑value band R$6.17 – R$15.37 · the R$5.48 price screens below the R$11.83 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Equatorial Pará Distribuidora de Energia S.A. engages in the distribution of electricity in the state of Pará, Brazil. It serves residential, industrial, commercial, rural, public authority, public lighting service, and public service customers. The company was formerly known as Centrais Elétricas do Pará S.A.
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Equatorial Pará Distribuidora de Energia S.A. engages in the distribution of electricity in the state of Pará, Brazil. It serves residential, industrial, commercial, rural, public authority, public lighting service, and public service customers. The company was formerly known as Centrais Elétricas do Pará S.A. and changed its name to Equatorial Pará Distribuidora de Energia S.A. in December 2019. The company was founded in 1962 and is headquartered in Belém, Brazil. Equatorial Pará Distribuidora de Energia S.A. is a subsidiary of Equatorial Energia Distribuição S.A.
Stock analysis
Equatorial Pará Distribuidora de Energia S.A (EQPA3) currently trades at R$5.48, while our model-based Fair Value estimate is R$11.83, implying the stock looks roughly 53.7% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of R$13.78 per share, and 23 of the 26 models we run sit above the R$5.48 price.
Bear case: the Asset-Based group reads lowest at R$1.57, and 3 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: R$6.17 (bear) to R$15.37 (bull), the price of R$5.48 sits below 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 44/100 (below-average quality), in the Utilities sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Equatorial Pará Distribuidora de Energia S.A reported revenue of R$12.2B in FY2025 versus R$8.1B in FY2021, a compound +10.8%/yr. Reported net income was R$1.6B in FY2025, compounding +10.9%/yr from FY2021.
Key figures
Market cap R$12.1B (≈ $2.4B) · P/E ratio 7.8 · P/S ratio 0.99 · EPS (TTM) R$0.7000 · Dividend yield 12.0% · Net margin 12.7% · Return on equity 28.2% · Return on assets (EBIT) 16.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 24% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −36% fair-value upside, at 116%, EQPA3 screens cheaper than that median.
Fair Value models
Bear R$6.17Fair Value R$11.83Bull R$15.37
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (R$0.0300 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.Evidence ⓘEvidence = 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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+12.5%
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.
+12.8%
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.
+15.8%
Start year 2020 (pandemic). Over 10 years: +11.3% a year
Revenue growth 20 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.
+12.7%
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What shareholders gained per year (last 5 years), in BRL ⓘ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. 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.
+28.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+16.7%
Dividend (yield on the price)12.0%
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.17% vs 15%, steady
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.24% → 21%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+3.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Brazil: IMF forecast 3.3% a year to 2030, 5.4% from 2016 to 2025) that is about +0.4% a year for the price.
Compare Equatorial Pará Distribuidora de Energia S.A 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 Electric · 158 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score44 · Below median
Fair Value upside+116% · Top 25%
Profitability
Return on equity (TTM)28% · Top 25%
Return on assets9% · Top 25%
Net margin (TTM)12% · Above median
Operating margin (TTM)23% · Above median
Growth and dividend
Revenue growth12% · Above median
Dividend yield (TTM)12.0% · Top 25%
Balance sheet
Debt / equity1.49× · Highest 25%
Valuation Multiplesvs Utilities - Regulated Electric 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). "Equatorial Pará Distribuidora de Energia S.A Fair Value". https://www.fairvalue-calculator.com/stock/EQPA3
Frequently asked questions
Is Equatorial Pará Distribuidora de Energia S.A (EQPA3) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of R$11.83 versus a price of R$5.48, about +116% upside (undervalued).
What is the fair value of EQPA3?
Our model-based fair value for Equatorial Pará Distribuidora de Energia S.A is R$11.83 (as of Sep 24, 2026), built from audited fundamentals. The current price: R$5.48.
What is the quality score of EQPA3?
Equatorial Pará Distribuidora de Energia S.A has a Quality Score of 44/100. 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 Equatorial Pará Distribuidora de Energia S.A (EQPA3)?
Our model-based price target is the fair value of R$11.83 (as of Sep 24, 2026) from 26 valuation models. Cautious scenario R$6.17, optimistic scenario R$15.37. It is a calculation from audited fundamentals, not an analyst target.
What is the Equatorial Pará Distribuidora de Energia S.A stock forecast for 2026?
Our models put fair value at R$11.83, about +116% upside versus a price of R$5.48 (undervalued). Cautious scenario R$6.17, optimistic scenario R$15.37. The calculation is refreshed regularly with new filings.
What is the revenue of Equatorial Pará Distribuidora de Energia S.A (EQPA3)?
Equatorial Pará Distribuidora de Energia S.A reported trailing-twelve-month revenue of about R$12.5B (latest available figure, as of Sep 24, 2026).
Does Equatorial Pará Distribuidora de Energia S.A pay a dividend?
Equatorial Pará Distribuidora de Energia S.A currently shows a dividend yield of about 12.03% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Equatorial Pará Distribuidora de Energia S.A (EQPA3)?
For today's price to be fair in a discounted-cash-flow model, Equatorial Pará Distribuidora de Energia S.A would have to grow free cash flow by +3.7 % per year for five years (discount rate 11.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +15.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of EQPA3 use?
Our models discount Equatorial Pará Distribuidora de Energia S.A at 11.2 %: a base by market capitalisation (mid), damped by beta 0.01, country premium for Brazil. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Equatorial Pará Distribuidora de Energia S.A that is +3.7 % per year a year over ten years, using the same discount rate (11.2 %) and the same formula as our fair value.
How much growth has Equatorial Pará Distribuidora de Energia S.A (EQPA3) delivered so far?
Over the past 5 years revenue at Equatorial Pará Distribuidora de Energia S.A grew +15.8 % a year. The price currently implies +3.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Equatorial Pará Distribuidora de Energia S.A (EQPA3) growing?
The median revenue growth in the sector is +0.7 % a year. That is the yardstick for the growth priced into Equatorial Pará Distribuidora de Energia S.A (+3.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Equatorial Pará Distribuidora de Energia S.A (EQPA3)?
The free-cash-flow yield on the price is 12.01 %: that much free cash flow Equatorial Pará Distribuidora de Energia S.A produces per unit of market value. When it exceeds the discount rate of our models (11.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Equatorial Pará Distribuidora de Energia S.A (EQPA3)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Equatorial Pará Distribuidora de Energia S.A it is R$11.83 per share (as of Sep 24, 2026), against a price of R$5.48. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Equatorial Pará Distribuidora de Energia S.A stock overvalued or undervalued in 2026?
As of Sep 24, 2026, EQPA3 trades below its calculated fair value: price R$5.48, fair value R$11.83, a gap of about +116% (undervalued). 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 EQPA3?
No. The price is what the market pays today (R$5.48); the fair value is what the company's own numbers justify (R$11.83). For Equatorial Pará Distribuidora de Energia S.A the two are R$6.35 per share apart. That gap is exactly why we show both numbers side by side.
How much is Equatorial Pará Distribuidora de Energia S.A worth?
The market values Equatorial Pará Distribuidora de Energia S.A at about R$12.1B (market capitalisation, as of Sep 24, 2026). Per share that is R$5.48; our models calculate a fair value of R$11.83 per share.
What do the bullish and bearish scenarios say about EQPA3?
Our models span a range for Equatorial Pará Distribuidora de Energia S.A: cautious scenario R$6.17, base R$11.83, optimistic R$15.37 per share (as of Sep 24, 2026, price R$5.48). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of EQPA3?
Equatorial Pará Distribuidora de Energia S.A trades at a price-to-earnings ratio of 7.8 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R$11.83 is built from several models across several years. Other multiples: P/B 0.5, P/S 0.2, EV/EBITDA 3.1.
How solid is the balance sheet of Equatorial Pará Distribuidora de Energia S.A (EQPA3)?
Balance-sheet figures for Equatorial Pará Distribuidora de Energia S.A (as of Sep 24, 2026): return on equity 28.2%, debt of 1.49 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is EQPA3 from its 52-week high?
Equatorial Pará Distribuidora de Energia S.A trades at R$5.48, about 24% below its 52-week high of R$7.21 and 7% above the low of R$5.10 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of R$11.83 is for.
Which stocks are comparable to Equatorial Pará Distribuidora de Energia S.A?
From the same area (Utilities) we also value NextEra Energy, Inc, The Southern Company, Duke Energy Corporation, American Electric Power 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 Equatorial Pará Distribuidora de Energia S.A stock attractive at the current price?
The data as of Sep 24, 2026: price R$5.48, calculated fair value R$11.83 (+116%), Quality Score 44/100, from 26 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 EQPA3 calculated?
We run Equatorial Pará Distribuidora de Energia S.A through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of R$11.83, 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 14.1 % above its aggregate fair value. Equatorial Pará Distribuidora de Energia S.A currently trades 116 % below its own fair value, and the market average says nothing about that. 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 Equatorial Pará Distribuidora de Energia S.A (EQPA3)?
The closing price on Sep 23, 2026 was R$5.48. Our model-based fair value is R$11.83, about +116% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Equatorial Pará Distribuidora de Energia S.A right now?
The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (R$6.17). The market is more pessimistic than our downside scenario. A fairly wide model range (R$6.17 to R$15.37) leaves room in how you read the outcome.
Where does the earnings growth of Equatorial Pará Distribuidora de Energia S.A (EQPA3) come from?
Earnings per share at Equatorial Pará Distribuidora de Energia S.A grew +18.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +10.8 %, EBIT margin +10.8 %, tax rate −1.5 %, residual (interest, one-offs) −2.2 %. 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 Equatorial Pará Distribuidora de Energia S.A
How large is the market capitalisation of Equatorial Pará Distribuidora de Energia S.A (EQPA3)?
The market capitalisation of Equatorial Pará Distribuidora de Energia S.A is R$12.1B (≈ $2.4B). 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 Equatorial Pará Distribuidora de Energia S.A (EQPA3)?
The price-to-sales ratio of Equatorial Pará Distribuidora de Energia S.A is 0.99 (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 Equatorial Pará Distribuidora de Energia S.A (EQPA3)?
Earnings per share at Equatorial Pará Distribuidora de Energia S.A are R$0.7000 (price ÷ EPS = P/E 7.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Equatorial Pará Distribuidora de Energia S.A (EQPA3)?
The dividend yield of Equatorial Pará Distribuidora de Energia S.A is 12.0% (payout 94.1%). 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 Equatorial Pará Distribuidora de Energia S.A (EQPA3)?
The net margin of Equatorial Pará Distribuidora de Energia S.A is 12.7% (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 Equatorial Pará Distribuidora de Energia S.A (EQPA3)?
The return on equity (ROE) of Equatorial Pará Distribuidora de Energia S.A is 28.2% (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 Equatorial Pará Distribuidora de Energia S.A (EQPA3)?
On an EBIT basis the return on assets of Equatorial Pará Distribuidora de Energia S.A is 16.3% (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 Equatorial Pará Distribuidora de Energia S.A (EQPA3)?
The operating margin of Equatorial Pará Distribuidora de Energia S.A is 22.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Equatorial Pará Distribuidora de Energia S.A (EQPA3)?
Revenue at Equatorial Pará Distribuidora de Energia S.A is growing +11.8% versus a year earlier (3y avg +12.8%). 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 Equatorial Pará Distribuidora de Energia S.A (EQPA3)?
Earnings per share at Equatorial Pará Distribuidora de Energia S.A are growing −2.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Equatorial Pará Distribuidora de Energia S.A (EQPA3) carry?
The net debt of Equatorial Pará Distribuidora de Energia S.A is R$8.2B (fiscal year 2025, ≈ 5.6 yrs of FCF). 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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