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CIA ENERGÉTICA DO RIO GRANDE DO NORTE

CSRN3 — CIA ENERGÉTICA DO RIO GRANDE DO NORTE

CNPJ 08.324.196/0001-81 · listed classes: CSRN3, CSRN5, CSRN6 · CVM code 18139

Serviço Público de Distribuição de Energia ElétricaAs filed by the company in its registration form (FCA), reference 2026-01-01 · CVM sector: Energia Elétrica

1961founded
Natal · RNheadquarters
Privadocontrol
Itaú Corretora de Valores S.A.share registrar
Deloitte Touche Tohmatsu Auditores Independentes Ltda.auditor
ri.neoenergia.cominvestor site
R$ 0.1 mavg. daily traded value (63 sessions)

Verdict

Net margin 16.4%; ROIC 22.2%; debt 2.4x EBITDA; 2025 data, with a relevant recent restatement.

Confidence flag: Incomplete or flagged snapshot

Data for fiscal year 2025, received by the CVM on 2026-02-11; 3 of the 5 core figures published; last restatement recorded in 2024.

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 CSRN3: 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 CSRN3.

Quote

R$ 13.60close of 2024-08-29 · B3 (COTAHIST), updated nightly — the price the API, the MCP and the dump serve
15-minute delayed quote, shown by TradingView — display only: it never enters our API, MCP or dump
Close, weekly, 5 years · return -23.6% (-5.2% a year) · not split-adjustedR$ 13.60 2024-08-29
high 2023-08-04: R$ 29.70low 2024-08-23: R$ 13.002024-08-29: R$ 13.60
2019low R$ 13.00 · high R$ 29.702024

Return by window

1 month3 months1 year2 years5 years10 years
Price-18.6%-45.0%-46.6%-39.4%-23.6%+36.0%
With dividends reinvested-18.6%-41.4%-40.1%-23.4%+37.0%+264.8%
Real, net of inflation (IPCA to 08/2024)-18.6%-41.8%-42.5%-29.8%+2.8%+107.3%
R$ 1,000 would be worthR$ 814R$ 586R$ 599R$ 766R$ 1,370R$ 3,648

Closing prices from the base up to 2024-08-29. 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.

Valuation

Today

R$ 2.3 bnmarket value
close of 2024-08-29 × sharesprice × shares outstanding
R$ 5.2 bnenterprise value
+ net debt 2025market value + net debt
R$ 9.89BVPS 2025
book value per shareshareholders' equity ÷ shares
3.5P/E 12m
to 2T26today's market value ÷ net income of the last 12 months (built by identity from the quarterly filings)
1.29P/B 2T26
latest quarterly balancetoday's market value ÷ equity to controlling shareholders at quarter end
15.0%net margin 12m
to 2T26net income ÷ net revenue, both over the last 12 months
3.0P/FCO 2025
FCO R$ 769 mmarket value ÷ operating cash flow
168.1 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)

8.3P/E 2023
price of 2024-02-07 · sector 13.8 · 10 cos. · 3th of 11price ÷ earnings per share for the year
3.2P/B 2023
price of 2024-02-07 · sector 1.9 · 9 cos. · 10th of 10price ÷ book value per share
6.7EV/EBITDA 2023
price of 2024-02-07 · sector 8.0 · 9 cos. · 3th of 10enterprise value on the filing date ÷ EBITDA for the year (other sites use trailing 12 months and today's price)
42.4%ROE 2025
sector 11.0% · 29 cos. · 1st of 30net income to controlling ÷ average equity
22.2%ROIC 2025
sector 13.9% · 32 cos. · 5th 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 2024-02-07 (R$ 28.99), the first one after the 2023 filing became public on 2024-02-07 — point-in-time, not the 31 December price. 4 caveats

By theme, fiscal year 2025

Valuation

P/Receita todaymarket value ÷ net revenue for the year0.55×
EV/Receita todayenterprise value ÷ net revenue1.26×
P/EBITDA todaymarket value ÷ EBITDA1.82×
P/EBIT todaymarket value ÷ EBIT2.16×
EV/EBIT todayenterprise value ÷ EBIT4.95×
Earning yield todaynet income ÷ market value (the inverse of P/E)29.9%

Debt and liquidity

Dívida líquida/PLnet debt ÷ shareholders' equity1.78×
Dívida bruta/PLshort- and long-term borrowings ÷ equity2.19×
Dívida líquida/EBITDAnet debt ÷ EBITDA for the year2.35×
PL/Ativosequity ÷ total assets0.24×
Passivos/Ativos(total assets − equity) ÷ total assets0.76×
Liquidez correntecurrent assets ÷ current liabilities1.38×

Efficiency

Margem brutagross profit ÷ net revenue30.5%
Margem EBITDAEBITDA ÷ net revenue30.3%
Margem EBITEBIT ÷ net revenue25.5%
Margem líquidanet income ÷ net revenue16.4%

Profitability

ROEnet income to controlling ÷ average equity42.4%
ROICEBIT × (1 − effective tax rate) ÷ average invested capital (gross debt + total equity − cash − investments), goodwill included22.2%
ROAnet income ÷ total assets10.6%
Giro do ativonet revenue ÷ total assets0.60×

Growth

Receita, 1 anorevenue this year ÷ previous year − 18.2%
Receita, CAGR 5 anoscompound annual growth of revenue over 5 years8.3%
EBITDA, CAGR 5 anoscompound annual growth of EBITDA over 5 years (positive at both ends only)17.0%

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 6 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.

ROE42.4%! 2025
2010: 35.2% — lucro_total_sem_minoritarios;pl_final_sem_media2011: 31.2% — lucro_total_sem_minoritarios2012: 30.7% — lucro_total_sem_minoritarios2013: 24.1% — lucro_total_sem_minoritarios2014: 24.4% — lucro_total_sem_minoritarios2015: 22.0% — lucro_total_sem_minoritarios2016: 20.2% — lucro_total_sem_minoritarios2017: 22.2% — lucro_total_sem_minoritarios2018: 26.6% — lucro_total_sem_minoritarios2019: 27.1% — lucro_total_sem_minoritarios2020: 28.7% — lucro_total_sem_minoritarios2021: 37.5% — lucro_total_sem_minoritarios2022: 39.8% — lucro_total_sem_minoritarios2023: 39.8% — lucro_total_sem_minoritarios2024: 35.9% — lucro_total_sem_minoritarios2025: 42.4% — lucro_total_sem_minoritarios
20102025
ROIC22.2% 2025
2010: 18.6% — capital_final_sem_media2011: 18.9%2012: 18.1%2013: 14.3%2014: 17.5%2015: 13.3%2016: 13.6%2017: 13.0%2018: 14.6%2019: 14.7%2020: 14.6%2021: 18.7%2022: 20.6%2023: 22.9%2024: 19.8%2025: 22.2%
20102025
Net margin16.4% 2025
2010: 22.0%2011: 20.2%2012: 17.3%2013: 15.0%2014: 13.0%2015: 10.6%2016: 9.5%2017: 8.7%2018: 10.1%2019: 10.4%2020: 12.2%2021: 14.7%2022: 16.4%2023: 16.2%2024: 14.5%2025: 16.4%
20102025
Point-in-time P/E8.3x! 2023
2013: 8.1x — acoes_do_fre_sem_tesouraria;acoes_defasadas;pl_total_sem_minoritarios;lucro_total_sem_minoritarios2014: 15.1x — acoes_do_fre_sem_tesouraria;pl_total_sem_minoritarios;lucro_total_sem_minoritarios;preco_3_anos_apos_o_exercicio2015: 17.1x — acoes_do_fre_sem_tesouraria;pl_total_sem_minoritarios;lucro_total_sem_minoritarios;preco_2_anos_apos_o_exercicio2016: 18.6x — acoes_do_fre_sem_tesouraria;pl_total_sem_minoritarios;lucro_total_sem_minoritarios2017: 17.0x — acoes_do_fre_sem_tesouraria;acoes_defasadas;pl_total_sem_minoritarios;lucro_total_sem_minoritarios2018: 11.9x — acoes_do_fre_sem_tesouraria;acoes_defasadas;pl_total_sem_minoritarios;lucro_total_sem_minoritarios2019: 12.9x — acoes_do_fre_sem_tesouraria;pl_total_sem_minoritarios;lucro_total_sem_minoritarios;sem_capex2020: 7.9x — pl_total_sem_minoritarios;acoes_escala_milhares;lucro_total_sem_minoritarios;sem_capex2021: 4.5x — pl_total_sem_minoritarios;acoes_escala_milhares;lucro_total_sem_minoritarios;sem_capex2022: 6.9x — pl_total_sem_minoritarios;acoes_escala_milhares;lucro_total_sem_minoritarios;sem_capex2023: 8.3x — pl_total_sem_minoritarios;acoes_escala_milhares;lucro_total_sem_minoritarios;sem_capex
20102025

Full table

indicator2010201120122013201420152016201720182019202020212022202320242025sector
ROE ⟶35.2%!31.2%!30.7%!24.1%!24.4%!22.0%!20.2%!22.2%!26.6%!27.1%!28.7%!37.5%!39.8%!39.8%!35.9%!42.4%!11.0%
ROIC ⟶18.6%!18.9%18.1%14.3%17.5%13.3%13.6%13.0%14.6%14.7%14.6%18.7%20.6%22.9%19.8%22.2%13.9%
ROA ⟶16.9%!14.6%14.3%11.4%11.0%8.5%7.1%7.1%8.0%7.5%7.9%10.9%11.1%10.7%9.6%10.6%4.5%
Gross margin ⟶32.9%32.6%28.3%26.4%27.1%23.7%23.3%18.9%23.7%21.8%22.9%24.6%30.7%30.5%30.2%30.5%29.3%
EBIT margin ⟶23.3%23.4%18.4%15.3%17.6%14.3%14.2%13.6%15.8%16.0%16.8%19.9%25.4%25.2%25.1%25.5%20.8%
Net margin ⟶22.0%20.2%17.3%15.0%13.0%10.6%9.5%8.7%10.1%10.4%12.2%14.7%16.4%16.2%14.5%16.4%9.7%
Revenue growth (1y) ⟶—-0.1%23.4%-2.5%18.0%8.7%2.0%20.4%10.4%9.4%6.5%29.4%-2.0%2.1%6.2%8.2%8.8%
Revenue growth (5y CAGR) ⟶—————8.8%9.3%8.8%11.8%10.2%9.7%15.0%10.3%8.6%7.9%8.3%9.3%
Net debt/EBITDA ⟶1.57x1.44x1.43x1.37x1.85x2.23x2.47x3.15x2.94x2.79x2.60x2.31x2.06x2.16x2.23x2.35x2.84x
Current ratio ⟶1.23x1.52x1.15x1.58x1.16x1.35x0.90x1.01x1.39x1.76x1.52x0.93x1.05x0.96x1.47x1.38x1.32x

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)1.21.11.41.41.61.81.82.22.42.62.83.63.53.63.84.21.04.3
Cost of goods and services (R$ bn)-0.8-0.8-1.0-1.0-1.2-1.3-1.4-1.8-1.8-2.1-2.2-2.7-2.5-2.5-2.7-2.9-0.7-3.0
Gross profit (R$ bn)0.40.40.40.40.40.40.40.40.60.60.60.91.11.11.21.30.31.3
EBITDA (R$ bn)0.30.30.30.30.40.40.30.40.50.50.60.91.11.11.11.3——
Depreciation and amortization (R$ m)455354646911678758394106133152169182199——
EBIT (operating result) (R$ bn)0.30.30.30.20.30.30.30.30.40.40.50.70.90.91.01.10.31.1
Pre-tax profit (R$ m)302271282241249222192230291325413651721627676746153740
Income taxes (R$ m)-48-38-36-33-38-36-20-42-49-52-71-118-140-40-119-638-88
Net income (R$ m)254232246208211186171188242273342533581587557683161652
Net income (controlling) (R$ m)254232246208211186171188242273342533581587557683161652
Balance sheet
Total assets (R$ bn)1.51.71.81.92.02.42.42.93.24.14.65.25.35.76.06.97.17.1
Current assets (R$ bn)0.30.40.50.60.60.70.60.90.90.91.01.51.21.41.31.81.61.6
Current liabilities (R$ bn)0.30.30.40.40.50.60.70.90.60.50.71.61.21.40.91.31.31.3
Gross debt (short + long term) (R$ bn)0.50.60.60.70.71.11.01.51.71.71.72.12.42.72.93.63.43.4
Cash and investments (R$ m)2817213827940254199351295244210169256376353683372372
Net debt (R$ bn)0.50.50.50.40.70.80.81.21.41.41.52.02.22.32.63.0——
Shareholders' equity (R$ bn)0.70.80.80.90.80.90.80.91.01.11.31.51.41.51.61.71.81.8
Cash flow
Operating cash flow (R$ bn)0.30.40.30.30.20.40.30.10.20.50.50.41.10.70.80.8——
Capital expenditures (R$ m)-115-145-176-180-201-196-246-297-340—————————
Free cash flow (FCO + capex) (R$ m)21820713082-2217153-182-118—————————

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!931.0172.018.5%6.92.422024-04-23
2024T2!898.0130.014.5%6.42.132024-07-23
2024T3!911.0112.012.3%——2024-10-22
2025T1!953.0136.014.3%——2025-04-29
2025T2!1,022.0231.022.6%——2025-07-22
2025T3!1,077.0151.014.0%——2025-10-27
2026T1!1,124.0175.015.6%——2026-04-28
2026T2!1,031.0161.015.6%——2026-07-21

Full series, every quarter: GET /empresas/CSRN3/trimestres

Dividends

No ex-date or payment scheduled in the base (exchange announcements through 2026-09-21 · filings to the regulator through 2026-09-18).

The latest dividend by CSRN3 was a dividend of R$ 1.3147 per share (record date 2024-07-25). In the last 12 months: 0 payments adding up to R$ 0.0000 per share. Average yield of the last 5 full years: 15.3%.

typerecord dateex-datepaymentper share
dividend2024-07-252024-07-26—R$ 1.3147
JCP2024-06-252024-06-26—R$ 0.0875
dividend2024-04-112024-04-15—R$ 0.9493
JCP2024-03-252024-03-27—R$ 0.0863
JCP2024-01-042024-01-05—R$ 0.1356
JCP2023-10-042023-10-05—R$ 0.1351
dividend2023-07-312023-08-02—R$ 1.1285
JCP2023-07-032023-07-13—R$ 0.1454
dividend2023-04-192023-04-24—R$ 0.9603
JCP2023-03-102023-03-15—R$ 0.1505
JCP2023-01-042023-01-05—R$ 0.1280
dividend2022-11-012022-11-03—R$ 0.3490
JCP2022-10-052022-10-13—R$ 0.1225
dividend2022-08-012022-08-05—R$ 1.1576
JCP2022-07-052022-07-07—R$ 0.1279
dividend2022-04-132022-04-20—R$ 1.9508
dividend2022-04-132022-04-20—R$ 0.0459
JCP2022-04-042022-04-11—R$ 0.1331
JCP2022-01-052022-01-18—R$ 0.1625
dividend2021-12-032021-12-06—R$ 0.3490
JCP2021-07-052021-07-06—R$ 0.1567
dividend2021-04-092021-04-12—R$ 1.2101
dividend2021-04-092021-04-12—R$ 0.1672
JCP2021-01-062021-01-08—R$ 0.2952

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: Jan3FebMar2Apr5MayJun1Jul4Aug1SepOct2Nov1Dec1

Per year

yearper sharepaymentsyield
2024R$ 2.5733518.9%
2023R$ 2.647769.5%
2022R$ 4.0493818.9%
2021R$ 2.1782513.7%
2020R$ 0.164820.9%
2019R$ 1.164536.2%
2018R$ 0.510523.0%
2017R$ 1.011365.5%
2016R$ 1.065757.4%
2015R$ 1.0226410.8%

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

Shareholders and free float

0.00%free floatshares outstanding held by the market, as filed in the FRE
1shareholders
0 individuals · 1 companies · 0 institutionalcount at the last shareholders meeting, from the FRE
Neoenergia S.Acontrolling shareholder
as declared in the FREshareholders the company marks as controlling
80% ONtag along (minimum)
no listing segment on fileminimum guaranteed by the listing segment or by law; the bylaws may grant more
shareholdertype% ON% PN% total
Neoenergia S.A ctrlPJ100.00%0.00%100.00%
Others (market)———0.00%
Treasury shares———0.00%

Direct holdings from the reference form (FRE) filed on 2026-09-03, version 3. 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
2026-09-18Reunião da Administração · Conselho de AdministraçãoContrato Intercompany - Neoenergia S.A x Neoenergia Cosern - Emissão de Debêntures Privadas||Distribuição de JSCP - 3º tri||Proposta de Alteração Estatuto Social (ANEEL e Representopen
2026-09-03Reunião da Administração · Conselho de AdministraçãoRenúncia e Eleição de Diretoriaopen
2026-09-03Comunicado ao Mercado · Outros Comunicados Não Considerados Fatos RelevantesEleição de Diretora Financeira e de Relações com Investidoresopen
2026-07-21Dados Econômico-Financeiros · Press-releaseITR 2T26open
2026-06-19Reunião da Administração · Conselho de AdministraçãoDistribuição de Juros sobre Capital Próprioopen
2026-05-11Reunião da Administração · Conselho de AdministraçãoEleição de Diretoriaopen
2026-05-11Fato RelevanteEleição Diretora Presidenteopen
2026-05-08Comunicado ao Mercado · Outros Comunicados Não Considerados Fatos RelevantesInvestimentos 2026 a 2030open
2026-05-08Comunicado ao Mercado · Outros Comunicados Não Considerados Fatos RelevantesProrrogação Concessão Neoenergia Cosernopen
2026-04-30Dados Econômico-Financeiros · Relatório de Agente Fiduciário12ª Emissão de Debênturesopen

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 7/9 (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
2013BPA 1.01.01 (individual)271.47.2
2013BPA 1.01.02 (individual)7.4271.6
2010DMPL 5.05.01 (individual)no value in the file253.7
2018DMPL 5.04 (individual)114.4-127.3
2018DMPL 5.05 (individual)-0.1241.6
2018DMPL 5.05.01 (individual)no value in the file241.7
2024DMPL 5.04 (individual)-432.0-650.0
2024DMPL 5.06 (individual)-109.0109.0

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.

CSRN3 × AXIA3 · CSRN3 × CPLE3 · CSRN3 × SBSP3 · CSRN3 × EQTL3 · CSRN3 × CPFE3 · CSRN3 × 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/CSRN3/indicadores. WEGE3 is open for testing without a key; for the rest, create a free key (200 calls/day, no card).

Price coverage: 1,175 sessions, 2010-01-06 → 2024-08-29 · 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 08:51 UTC. If this does not match /saude, you are reading a cached copy.