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ELP

Companhia Paranaense de Energia - COPEL

ELP

Companhia Paranaense de Energia - COPEL • NYSE
$10.67 ▼ -0.93% (-0.10)
Market Cap $7.92 B
52w High $11.23
52w Low $5.72
Dividend Yield 0.45%
P/E 20.52
Volume 104.00K
Outstanding Shares 742.41M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $6.811B ▲ $240.409M ▼ $384.222M ▼ 5.641% ▼ $0.48 ▼ $1.362B ▼
Q2-2025 $6.225B ▲ $251.348M ▲ $572.14M ▼ 9.191% ▼ $0.76 ▼ $1.499B ▼
Q1-2025 $5.892B ▼ $239.036M ▲ $665.508M ▲ 11.295% ▲ $0.92 ▲ $1.616B ▲
Q4-2024 $6.019B ▲ $-4.218B ▼ $586.506M ▼ 9.744% ▼ $0.76 ▼ $1.225B ▼
Q3-2024 $5.736B $232.39M $1.22B 21.265% $1 $1.441B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $3.971B ▲ $62.048B ▲ $36.101B ▲ $25.986B ▲
Q2-2025 $2.904B ▼ $60.742B ▲ $35.183B ▲ $25.596B ▼
Q1-2025 $6.736B ▲ $60.241B ▲ $34.007B ▲ $26.272B ▲
Q4-2024 $4.163B ▼ $57.384B ▲ $31.747B ▲ $25.675B ▲
Q3-2024 $7.601B $56.554B $31.087B $25.493B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $384.222M ▼ $770.701M ▲ $-501.406M ▲ $701.454M ▲ $970.749M ▲ $716.384M ▲
Q2-2025 $572.14M ▼ $745.873M ▼ $-1.958B ▼ $-2B ▼ $-3.212B ▼ $709.054M ▼
Q1-2025 $664.667M ▲ $992.673M ▲ $-310.612M ▲ $1.213B ▲ $1.894B ▲ $970.516M ▲
Q4-2024 $575.164M ▼ $749.369M ▼ $-4.613B ▼ $445.376M ▲ $-3.418B ▼ $-3.394B ▼
Q3-2024 $1.22B $757.308M $51.703M $-527.215M $281.796M $736.449M

Five-Year Company Overview

Income Statement

Income Statement Over the past five years, COPEL’s revenue has generally trended upward, with only one standout year of unusually high sales. Profitability has been more volatile: earnings surged earlier in the period, dipped meaningfully, and then recovered in the last two years. Recent results show stronger operating and net profit than in the weaker middle years, suggesting better cost control and more disciplined operations. However, the swings in profit also highlight exposure to regulatory changes, hydrological conditions, and one‑off items that can make year‑to‑year results less predictable for a utility.

Balance Sheet

Balance Sheet COPEL’s balance sheet has expanded gradually, with total assets and shareholder equity both increasing over time, which points to a growing and more capitalized business. Debt levels have also risen, and at a faster pace than equity, which means leverage has crept up and the company is more sensitive to interest rates and refinancing conditions. Cash holdings move around year to year but remain reasonable relative to operations, giving some cushion. Overall, the company looks solidly capitalized, but the upward trend in borrowing is a key factor to watch if investment needs or market conditions change.

Cash Flow

Cash Flow Cash generation from the core business has been steady and consistently positive, even in years when accounting profits moved around. Free cash flow has remained positive after investments, which is a good sign for the company’s ability to fund capital projects, pay down debt, or support dividends without relying entirely on new borrowing. Investment spending has been fairly controlled, not overly aggressive. That supports financial stability, but also raises the question of whether future grid and renewable investments will require a step‑up in spending and potentially more financing.

Competitive Edge

Competitive Edge COPEL holds a strong, entrenched position as the leading utility in the state of Paraná, serving a large share of households and businesses with long‑lived infrastructure that would be very hard and costly for new entrants to replicate. Its integrated model across generation, transmission, distribution, and energy commercialization gives it operational synergies and some protection from shocks in any single part of the value chain. Regulation and political decisions remain an ever‑present risk for a Brazilian utility, and the gradual opening of the free energy market can increase competition for large customers. Still, COPEL’s scale, local knowledge, and existing network form a meaningful competitive moat in its home territory.

Innovation and R&D

Innovation and R&D COPEL is unusually proactive on innovation for a traditional utility. Its large smart grid program, with extensive smart meter rollout, aims to cut losses, improve reliability, and give customers more visibility into their usage. The use of cloud‑based artificial intelligence and advanced data tools suggests a serious push toward being a data‑driven operator, not just a conventional power company. At the same time, COPEL is expanding renewables and experimenting with emerging areas such as low‑carbon hydrogen, energy storage, and electric mobility. The corporate venture fund and open‑innovation program give it direct exposure to startups and new business models. The upside is a potential leadership role in Brazil’s energy transition; the risk is execution complexity and the uncertainty that not all new technologies or investments will pay off.

Summary

COPEL combines relatively stable utility characteristics with a clear tilt toward modernization and the energy transition. Financially, it has returned to stronger profitability after a more volatile stretch, maintains a solid equity base, and generates reliable cash, though leverage has moved higher and deserves monitoring. Competitively, its dominant regional position and integrated structure provide resilience, but regulation, local politics, and the evolving free market remain important external risk factors. Strategically, COPEL’s heavy focus on smart grids, digitalization, and renewables, supported by venture investing and partnerships, positions it as one of the more forward‑leaning utilities in Brazil. The main uncertainties going forward lie in managing regulatory risk, funding and executing large investment programs, and turning innovative pilots into durable, profitable businesses over time.