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CENTRAIS ELETRICAS DE SANTA CATARINA S.A

CLSC4 — CENTRAIS ELETRICAS DE SANTA CATARINA S.A

CNPJ 83.878.892/0001-55 · listed classes: CLSC4, CLSC3 · CVM code 2461

Holding do Setor de EnergiaAs filed by the company in its registration form (FCA), reference 2026-01-01 · CVM sector: Energia Elétrica

Nível 2 de Governança Corporativalisting segment
1955founded
Florianópolis · SCheadquarters
Estatalcontrol
Banco Bradesco S.Ashare registrar
KPMG Auditores Independentes Ltda.auditor
celesc.com.brinvestor site
R$ 0.6 mavg. daily traded value (63 sessions)

Verdict

Net margin 6.1%; ROIC 14.0%; debt 2.6x EBITDA; P/E 7.6 against 13.8 for the sector; 2025 data, no relevant restatement.

Confidence flag: Clean data

Data for fiscal year 2025, received by the CVM on 2026-03-20; 5 of the 5 core figures published; last restatement recorded in 2022.

Does the company make money?

Is it sound or indebted?

Is the share expensive or cheap relative to the sector and its own history?

Descriptive: number, numeric band and comparison with the sector, the company's own history and the whole universe. Not investment advice. JSON · how the verdict works

Follow CLSC4: get an e-mail when profit turns into loss, debt or margin change band, or the statements are restated. That is all, and you can cancel in one click. See every event already recorded for CLSC4.

Quote

R$ 159.99close of 2026-09-25 · B3 (COTAHIST), updated nightly — the price the API, the MCP and the dump serve

1m +7.6% · 12m +57.1% · YTD +27.5% · 52-week R$ 99.98–160.31

15-minute delayed quote, shown by TradingView — display only: it never enters our API, MCP or dump
Close, weekly, 5 years · return +135.5% (+18.7% a year) · not split-adjustedR$ 159.99 2026-09-25
high 2026-09-25: R$ 159.99low 2023-04-14: R$ 48.652026-09-25: R$ 159.99
2021low R$ 48.65 · high R$ 159.992026

Return by window

1 month3 months1 year2 years5 years10 years
Price+7.6%+16.4%+57.1%+90.1%+130.7%+1,022.7%
With dividends reinvested+7.6%+18.7%+63.6%+111.2%+198.1%+1,468.5%
Real, net of inflation (IPCA to 08/2026)+7.7%+19.0%+57.6%+93.5%+131.6%+873.9%
R$ 1,000 would be worthR$ 1,076R$ 1,187R$ 1,636R$ 2,112R$ 2,981R$ 15,685

Closing prices from the base up to 2026-09-25. The starting price is adjusted by the corporate actions checked against the price (the small mark says how many); a jump they do not explain leaves the window blank. Reinvestment buys more shares at the close of the ex-date, with no tax or cost; only the main ticker class. The real line divides the reinvested return by the IPCA accumulated in the window (Banco Central series 433, monthly, edge months pro rata by days); the latest month is only published around the 10th of the following month.

Corporate actions

last day with rightseventmultipliercheck
2006-09-29reverse split inferred0.05× sharesnot checked
2006-09-29reverse split inferred0.05× sharesnot checked
2006-09-29reverse split inferred0.05× sharesnot checked

Why the price chart jumps: prices are not split-adjusted. Inferred means detected from the share count and the price, not announced in the exchange file.

Valuation

Today

R$ 6.2 bnmarket value
close of 2026-09-25 × sharesprice × shares outstanding
R$ 10.8 bnenterprise value
+ net debt 2025market value + net debt
R$ 18.91EPS 2025
profit per sharenet income for the year ÷ shares
R$ 102.89BVPS 2025
book value per shareshareholders' equity ÷ shares
7.1P/E 12m
to 2T26today's market value ÷ net income of the last 12 months (built by identity from the quarterly filings)
1.46P/B 2T26
latest quarterly balancetoday's market value ÷ equity to controlling shareholders at quarter end
21.6%ROE 12m
to 2T26net income of the last 12 months ÷ average equity over the same 12 months
7.0%net margin 12m
to 2T26net income ÷ net revenue, both over the last 12 months
34.9P/FCO 2025
FCO R$ 177 mmarket value ÷ operating cash flow
41.9P/FCF 2025
FCF R$ 147 mmarket value ÷ (operating cash flow + capex)
38.6 mshares outstanding !latest public count, treasury excluded

Snapshot: today's close over the latest public share count. Cards marked 12m use the last four quarterly filings; the others use the 2025 annual filing. The multiples below are point-in-time: priced on the day the filing became public. share count caveat

At the filing date (point-in-time)

7.6P/E 2025
price of 2026-03-20 · sector 13.8 · 10 cos. · 1st of 11price ÷ earnings per share for the year
1.4P/B 2025
price of 2026-03-20 · sector 1.9 · 9 cos. · 4th of 10price ÷ book value per share
5.7EV/EBITDA 2025
price of 2026-03-20 · sector 8.0 · 9 cos. · 1st of 10enterprise value on the filing date ÷ EBITDA for the year (other sites use trailing 12 months and today's price)
2.6%FCF yield 2025
price of 2026-03-20 · sector 4.0% · 9 cos. · 6th of 10(operating cash flow + capex) ÷ market value
19.1%ROE 2025
sector 10.5% · 28 cos. · 7th of 29net income to controlling ÷ average equity
14.0%ROIC 2025
sector 14.0% · 32 cos. · 17th of 33EBIT × (1 − effective tax rate) ÷ average invested capital (gross debt + total equity − cash − investments), goodwill included — /metodologia/roic
P/E, P/B and EV/EBITDA use the price of 2026-03-20 (R$ 144.66), the first one after the 2025 filing became public on 2026-03-20 — point-in-time, not the 31 December price. 1 caveat

By theme, fiscal year 2025

Valuation

P/Receita todaymarket value ÷ net revenue for the year0.52×
EV/Receita todayenterprise value ÷ net revenue0.90×
P/EBITDA todaymarket value ÷ EBITDA3.43×
P/EBIT todaymarket value ÷ EBIT4.36×
EV/EBIT todayenterprise value ÷ EBIT7.61×
Earning yield todaynet income ÷ market value (the inverse of P/E)11.8%

Debt and liquidity

Dívida líquida/PLnet debt ÷ shareholders' equity1.16×
Dívida bruta/PLshort- and long-term borrowings ÷ equity1.26×
Dívida líquida/EBITDAnet debt ÷ EBITDA for the year2.55×
PL/Ativosequity ÷ total assets0.29×
Passivos/Ativos(total assets − equity) ÷ total assets0.71×
Liquidez correntecurrent assets ÷ current liabilities1.30×

Efficiency

Margem brutagross profit ÷ net revenue16.7%
Margem EBITDAEBITDA ÷ net revenue15.1%
Margem EBITEBIT ÷ net revenue11.9%
Margem líquidanet income ÷ net revenue6.1%

Profitability

ROEnet income to controlling ÷ average equity19.1%
ROICEBIT × (1 − effective tax rate) ÷ average invested capital (gross debt + total equity − cash − investments), goodwill included14.0%
ROAnet income ÷ total assets5.4%
Giro do ativonet revenue ÷ total assets0.86×

Growth

Receita, 1 anorevenue this year ÷ previous year − 111.6%
Receita, CAGR 5 anoscompound annual growth of revenue over 5 years6.1%
Lucro, CAGR 5 anoscompound annual growth of net income over 5 years (positive at both ends only)7.1%
EBITDA, CAGR 5 anoscompound annual growth of EBITDA over 5 years (positive at both ends only)14.3%

Standardized accounts and published indicators of the fiscal year; items marked today divide today's market value or enterprise value by an account of that year.

Indicators, year by year

Four indicators as charts and the full table below. A hollow point carries a caveat; a gap is a year without the figure — we never draw a line across a hole. In the table, the arrow opens the path from the figure down to the line in the regulator's file; a cell with ! carries a caveat; a dashed dash is a suppressed figure — hover to see why. Nothing is hidden.

Fact checklist 5 of 9

Nine objective checks with the threshold written in each line and the figure behind it. Descriptive, not a recommendation; the thresholds are ours and are declared.

ROE19.1% 2025
2010: 14.1% — pl_final_sem_media2011: 15.7%2012: -12.7%2013: 9.8%2014: 22.9%2015: 5.7%2016: -0.5%2017: 3.4%2018: 9.1%2019: 17.7%2020: 30.6%2021: 24.5%2022: 19.6%2023: 19.2%2024: 21.7%2025: 19.1%
20102025
ROIC14.0% 2025
2010: 10.6% — capital_final_sem_media2011: 15.4%2012: -15.8% — aliq_fallback_342013: 4.6%2014: 19.7%2015: 2.8%2016: 2.8% — aliq_fallback_342017: 9.1% — aliq_travada_452018: 10.6%2019: 13.3%2020: 18.5%2021: 16.6%2022: 14.7%2023: 14.0%2024: 15.5%2025: 14.0%
20102025
Net margin6.1% 2025
2010: 6.8%2011: 7.7%2012: -5.7%2013: 4.1%2014: 8.2%2015: 1.9%2016: -0.2%2017: 0.9%2018: 2.2%2019: 3.5%2020: 5.9%2021: 5.0%2022: 5.4%2023: 5.4%2024: 6.7%2025: 6.1%
20102025
Point-in-time P/E7.6x! 2025
2011: 5.0x — acoes_do_fre_sem_tesouraria2012: -3.5x — acoes_do_fre_sem_tesouraria;acoes_defasadas;pl_negativo2013: 3.1x — acoes_do_fre_sem_tesouraria;acoes_defasadas2014: 1.0x — acoes_do_fre_sem_tesouraria;acoes_defasadas2015: 3.6x — acoes_do_fre_sem_tesouraria;acoes_defasadas2016: -70.8x — acoes_do_fre_sem_tesouraria;acoes_defasadas;pl_negativo2017: 15.5x — acoes_do_fre_sem_tesouraria;acoes_defasadas2018: 11.7x — acoes_do_fre_sem_tesouraria;acoes_defasadas2019: 5.8x — acoes_do_fre_sem_tesouraria;acoes_defasadas2020: 3.8x — acoes_escala_milhares2021: 4.3x — acoes_escala_milhares2022: 3.5x — acoes_escala_milhares2023: 4.7x — acoes_escala_milhares2024: 4.3x — acoes_escala_milhares2025: 7.6x — acoes_escala_milhares
20102025

Full table

indicator2010201120122013201420152016201720182019202020212022202320242025sector
ROE ⟶14.1%!15.7%-12.7%9.8%22.9%5.7%-0.5%3.4%9.1%17.7%30.6%24.5%19.6%19.2%21.7%19.1%10.5%
ROIC ⟶10.6%!15.4%-15.8%!4.6%19.7%2.8%2.8%!9.1%!10.6%13.3%18.5%16.6%14.7%14.0%15.5%14.0%14.0%
ROA ⟶5.5%!6.2%-4.8%3.6%8.7%1.8%-0.1%0.8%1.7%2.9%5.1%5.0%4.6%4.7%5.6%5.4%4.5%
Gross margin ⟶16.3%22.1%9.8%16.8%16.3%7.1%8.6%12.4%10.8%12.4%13.6%11.3%14.3%15.9%16.9%16.7%29.3%
EBIT margin ⟶6.8%10.5%-11.0%3.0%12.6%1.4%1.5%4.3%5.2%6.2%7.7%7.0%8.0%7.9%11.4%11.9%21.6%
Net margin ⟶6.8%7.7%-5.7%4.1%8.2%1.9%-0.2%0.9%2.2%3.5%5.9%5.0%5.4%5.4%6.7%6.1%10.3%
Revenue growth (1y) ⟶—3.8%8.4%10.4%28.2%9.9%-13.4%16.1%8.3%4.6%10.5%28.0%-11.1%5.1%2.5%11.6%8.5%
Revenue growth (5y CAGR) ⟶—————11.2%7.8%9.9%9.5%5.1%4.7%13.2%7.3%6.3%5.9%6.1%9.3%
Net debt/EBITDA ⟶0.06x-0.15x—0.05x0.41x0.62x-0.39x-0.16x1.18x1.51x0.86x1.13x1.40x1.99x2.03x2.55x2.84x
Current ratio ⟶1.02x1.11x1.03x1.12x2.95x1.07x0.92x0.86x0.98x0.97x1.12x1.15x0.98x0.91x1.28x1.30x1.32x

In reais, year by year

The three statements behind the ratios — income statement, balance sheet and cash flow — in the standardized lines, consolidated as filed (or parent-only when that is what the company files). EBITDA and net debt follow the published methodology; gross debt, cash and investments and free cash flow are sums the line names spell out.

line20102011201220132014201520162017201820192020202120222023202420252T26TTM
Income statement
Net revenue (R$ bn)4.04.24.54.96.26.96.17.17.78.08.911.310.110.410.711.93.012.5
Cost of goods and services (R$ bn)-3.4-3.3-4.1-4.1-5.2-6.4-5.6-6.2-6.8-7.0-7.7-10.1-8.6-8.7-8.9-9.9-2.4-10.5
Gross profit (R$ bn)0.70.90.40.81.00.50.50.90.81.01.21.31.41.71.82.00.62.0
EBITDA (R$ bn)0.40.6-0.30.41.00.40.30.50.60.70.91.01.11.11.61.8——
Depreciation and amortization (R$ m)157156166209218261236218215228241246278316348383——
EBIT (operating result) (R$ bn)0.30.4-0.50.10.80.10.10.30.40.50.70.80.80.81.21.40.41.5
Pre-tax profit (R$ bn)0.40.5-0.40.30.80.2-0.00.20.30.40.70.80.70.70.91.00.41.1
Income taxes (R$ m)-84-130112-97-321-4317-90-122-137-206-258-179-126-217-227-95-240
Net income (R$ m)274324-258199513131-1066165284519563541557716729296875
Net income (controlling) (R$ m)274324-258199513131-1066165284519563541557716729296875
Balance sheet
Total assets (R$ bn)5.05.45.45.66.28.08.69.19.99.510.712.011.612.313.013.815.015.0
Current assets (R$ bn)1.21.51.41.75.23.63.83.94.42.44.03.83.73.43.93.84.84.8
Current liabilities (R$ bn)1.21.31.31.51.83.34.14.54.42.43.53.33.83.73.03.03.83.8
Gross debt (short + long term) (R$ bn)0.30.40.40.70.91.10.80.51.41.72.02.02.43.24.25.05.75.7
Cash and investments (R$ bn)0.30.50.20.70.40.90.90.60.70.61.20.80.90.91.00.40.50.5
Net debt (R$ bn)0.0-0.10.20.00.40.2-0.1-0.10.71.10.81.21.52.33.24.6——
Shareholders' equity (R$ bn)1.92.21.92.12.32.22.11.81.81.42.02.62.92.93.74.04.24.2
Cash flow
Operating cash flow (R$ m)325466160436-60644750321-384133913378868450282177——
Capital expenditures (R$ bn)-0.1-0.1-0.1-0.3-0.3-0.3-0.4-0.4-0.4-0.5-0.6-0.6-1.0-0.1-0.0-0.0——
Free cash flow (FCO + capex) (R$ m)272391107125-363304375-68-790-344361-263-162397247147——

The two right-hand columns come from the quarterly filing (ITR): the latest quarter alone and the last 12 months (TTM) built by the same identity as the TTM P/E. EBITDA and net debt have no quarterly series here.

The current year, quarter by quarter

As the company filed it in its interim report. The fourth quarter does not exist on its own in that filing — the closed year comes in the annual one, and we do not derive a Q4, so that a figure we computed never sits beside the figures the company reported. Filed on is the date the report became public, and the price is taken from it.

quarterrevenue (R$ m)profit (R$ m)net marginP/E TTMP/Bfiled on
2024T1!2,600.5232.08.9%4.70.872024-05-15
2024T2!2,619.5277.610.6%8.10.862024-08-14
2024T3!2,626.776.12.9%8.00.942024-11-14
2025T1!2,977.5252.78.5%4.50.862025-05-15
2025T2!2,899.5148.55.1%4.41.012025-08-14
2025T3!2,962.9170.15.7%4.31.062025-11-14
2026T1!3,498.7250.77.2%7.71.362026-05-15
2026T2!2,999.6296.19.9%6.41.332026-08-14

Full series, every quarter: GET /empresas/CLSC4/trimestres

Dividends

Next: 2027-06-30 payment · JCP R$ 1.0444 · 2027-06-30 payment · JCP R$ 2.1230 · 2027-12-30 payment · JCP R$ 0.5377

The latest dividend by CLSC4 was a JCP of R$ 0.5377 per share (record date 2026-07-31, payment 2027-12-30). In the last 12 months: 5 payments adding up to R$ 5.6188 per share. Average yield of the last 5 full years: 4.4%.

typerecord dateex-datepaymentper share
JCP2026-07-312026-08-032027-12-30R$ 0.5377
JCP2026-06-302026-07-012027-06-30R$ 2.1230
dividend2026-04-302026-05-042026-06-30R$ 0.6965
JCP2026-03-252026-03-262027-06-30R$ 1.0444
JCP2025-12-172025-12-182026-06-30R$ 1.2171
JCP2025-09-242025-09-25—R$ 1.0069
JCP2025-06-252025-06-26—R$ 0.7894
dividend2025-04-302025-05-02—R$ 1.0400
JCP2025-03-262025-03-27—R$ 0.8090
JCP2024-12-232024-12-26—R$ 1.3065
JCP2024-09-252024-09-26—R$ 0.6416
JCP2024-06-262024-06-27—R$ 0.5695
dividend2024-04-302024-05-02—R$ 0.0169
JCP2024-03-222024-03-25—R$ 0.5937
JCP2023-12-222023-12-26—R$ 1.1940
JCP2023-09-292023-10-02—R$ 0.6560
JCP2023-06-302023-07-03—R$ 0.6226
dividend2023-04-282023-05-02—R$ 0.3078
JCP2023-03-312023-04-03—R$ 0.6172
JCP2022-12-292023-01-02—R$ 0.7034
JCP2022-09-302022-10-03—R$ 0.5652
JCP2022-06-302022-07-01—R$ 0.5637
dividend2022-04-292022-05-02—R$ 0.2701
JCP2022-03-302022-03-31—R$ 0.4669

Ex-date is the first trading session after the record date, from our own price history. Payment date comes from the exchange file; CVM marks a date taken from the filing to the regulator. Only the main ticker class.

Record dates in the last 5 years, by month: JanFebMar6Apr5MayJun5Jul1AugSep4OctNovDec5

Per year

yearper sharepaymentsyield
2026R$ 4.401742.8%
2025R$ 4.862453.9%
2024R$ 3.128353.9%
2023R$ 3.397655.2%
2022R$ 3.036365.4%
2021R$ 2.365223.5%
2020R$ 1.571522.8%
2019R$ 1.224922.4%
2018R$ 0.255010.5%
2016R$ 0.501113.2%

Yield per year = the year's dividends over the close of its last session; the current year is partial.

Shareholders and free float

75.73%free float
29,209,116 sharesshares outstanding held by the market, as filed in the FRE
9,174shareholders
8,668 individuals · 436 companies · 70 institutionalcount at the last shareholders meeting, from the FRE
ESTADO DE SANTA CATARINAcontrolling shareholder
as declared in the FREshareholders the company marks as controlling
100% ON e PNtag along (minimum)
Nível 2 de Governança Corporativaminimum guaranteed by the listing segment or by law; the bylaws may grant more
shareholdertype% ON% PN% total
EDP Energias do Brasil S.A. agreementPJ33.11%27.73%29.90%
ESTADO DE SANTA CATARINA ctrl agreementPJ50.18%0.00%20.20%
AXIA ENERGIAPJ0.03%17.98%10.75%
ALASKA POLAND FIAPJ0.00%15.34%9.16%
GERAÇÃO L. PAR FUNDO DE INVESTIMENTO agreementPJ2.90%12.15%8.43%
FUNDAÇÃO CELESC DE SEGURIDADE SOCIAL - CELOS agreementPJ8.63%1.00%4.07%
Others (market)———17.49%
Treasury shares———0.00%

Direct holdings from the reference form (FRE) filed on 2026-07-31, version 5. The chain of control (who owns the holding) is not reproduced here. Names of individuals appear as in the public filing.

Filings and notices

filedcategorysubjectdocument
2026-09-09Dados Econômico-Financeiros · Demonstrações Financeiras Adicionais2Q26 ITRopen
2026-09-03Valores Mobiliários negociados e detidos (art. 11 da Instr. CVM nº 358) · Posição Consolidada—open
2026-08-29Dados Econômico-Financeiros · Demonstrações Financeiras Adicionais2Q26open
2026-08-26Comunicado ao Mercado · Apresentações a analistas/agentes do mercadoApresentação CELESC - 2T26open
2026-08-26Reunião da Administração · Comitê de AuditoriaDiversos assuntos||Parecer acerca das Demonstrações Financeirasopen
2026-08-26Reunião da Administração · Conselho FiscalParecer acerca das Demonstrações Financeirasopen
2026-08-25Reunião da Administração · Conselho de AdministraçãoAbertura de licitação para contratação de empresa para prestação de serviços de leitura nos equipamentos - LIESopen
2026-08-19Reunião da Administração · Conselho de AdministraçãoAbertura de Processo Licitatório destinado à contratação de obras vinculadas ao Programa Celesc Rural Trifásico||Acerto do saldo contábil de depósito judicial entre as Centrais Eléopen
2026-08-18Comunicado ao Mercado · Outros Comunicados Não Considerados Fatos RelevantesRevisão Tarifária Periódica da Celesc Distribuição S.A.open
2026-08-14Dados Econômico-Financeiros · Press-releaseRelease 2T26open

The last filings this company sent to the CVM outside its financial statements, newest first, from the regulator's own IPE index. The subject line is the company's own free text. We do not summarise or classify these documents — read the original.

Piotroski F-Score 5/9 (2025) — what each criterion means.

Restated filings for this company

The regulator overwrites the old version; we keep both. Figures in R$ millions: first filing on the left, restatement on the right.

fiscal yearaccountfirst filingrestated
2016BPP 2.014,072.73,816.1
2012DMPL 5.05.01no value in the file-255.7
2012DMPL 5.05-258.4-491.4
2015DRE 3.016,864.77,051.5
2015DRE 3.03487.2674.1
2015DRE 3.0595.7282.6
2022DRE 3.0110,082.89,899.5
2022DRE 3.02-8,643.9-8,460.5

Every restatement of this company, year by year

This company appears in

Compare

Side by side, with each figure's caveat and how often each company restated its filings.

CLSC4 × AXIA3 · CLSC4 × CPLE3 · CLSC4 × SBSP3 · CLSC4 × EQTL3 · CLSC4 × CPFE3 · CLSC4 × EGIE3

compare with the sector: EQTL3 × CPLE3 × ENEV3

Other companies in Utilities

46 more with a page, same CVM sector — a classification of the regulator's, not ours.

Take this into your code

Everything on this page is also JSON: GET /empresas/CLSC4/indicadores. WEGE3 is open for testing without a key; for the rest, create a free key (200 calls/day, no card).

Price coverage: 3,618 sessions, 2012-01-20 → 2026-09-25 · methodology · how we verify

Sources: CVM (open data, ODbL) and B3 (COTAHIST). Not affiliated with B3 or the CVM. Not investment advice.

Numbers on this page are live. Data version 2026-09-27-reapresentacao-agreg · page generated 2026-09-28 05:40 UTC. If this does not match /saude, you are reading a cached copy.