Discounted Cash Flow

Companhia DE Saneamento Basico DO Estado DE SAO Paulo-sabesp ADR

SBS · Based on 10 years of SEC filings · Converted from BRL to USD (5 ordinary shares per ADR)

⚠ Cash flow predictability 38/100 (unstable) — FCF YoY std dev 79%, net income 52% (full history)

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income
Dividends

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $2.8b $805.7m $174.7m 29.3%
2017 $2.9b (3.6%) $683.7m (-15.1%) $262.3m (50.1%) 24.0% (-18.1%)
2018 $3.1b (10.1%) $763.4m (11.7%) $333.8m (27.2%) 24.3% (1.4%)
2019 $3.5b (11.8%) $912.9m (19.6%) $195.5m (-41.4%) 26.0% (6.9%) $4.93
2020 $3.5b (-1.0%) $258.8m (-71.7%) $327.6m (67.5%) 7.5% (-71.4%) $1.42 (-71.2%)
2021 $3.8b (9.5%) $618.6m (139.1%) $42.4m (-87.1%) 16.3% (118.3%) $3.37 (137.3%)
2022 $4.3b (13.2%) $833.8m (34.8%) $81.4m (92.1%) 19.4% (19.1%) $4.57 (35.6%)
2023 $5.0b (15.9%) $927.7m (11.3%) $168.4m (106.9%) 18.6% (-4.0%) $5.16 (12.9%)
2024 $7.1b (41.3%) $2.7b (187.0%) $-102.5m (-160.9%) 37.7% (103.0%) $14.02 (171.7%)
2025 $7.4b (5.4%) $2.3b (-14.2%) $-1.0b (-923.9%) 30.7% (-18.6%) $2.47 (-82.4%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

SEC filings report in BRL. Values above are converted to USD for comparison with the US-listed share price.

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model