COMPANHIA DISTRIBUIDORA DE GÁS DO RIO DE JANEIRO - CEG

Cash flow Companhia Distribuidora de Gás do Rio de Janeiro - CEG

Stocks

CEGR3

BRCEGRACNOR4

Natural Gas Utilities

Market Closed - Sao Paulo 14:27:43 2026-08-31 EDT			5-day change	1st Jan Change
35.00 ^BRL	+16.67%		+16.67%	-63.73%

08-14	Companhia Distribuidora de Gás do Rio de Janeiro - CEG Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI
05-15	Companhia Distribuidora de Gás do Rio de Janeiro - CEG Reports Earnings Results for the First Quarter Ended March 31, 2026	CI

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Published financial data: COMPANHIA DISTRIBUIDORA DE GÁS DO RIO DE JANEIRO - CEG

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (BRL)	2022 (BRL)	2023 (BRL)	2024 (BRL)	2025 (BRL)
Revenues - (Utility Template)	4.41B	6.13B	5.6B	5.16B	4.81B
Total Revenues	4.41B	6.13B	5.6B	5.16B	4.81B
Operations And Maintenance	-	-	53.57M	56.94M	-
Selling General & Admin Expenses, Total	379M	510M	186M	220M	495M
Amortization of Goodwill and Intangible Assets - (IS)	-	-	29.73M	35.31M	-
Provision for Bad Debts	-	-	178M	90.48M	-
Other Operating Expenses	3.26B	4.79B	4.12B	3.86B	3.27B
Total Operating Expenses	3.64B	5.3B	4.56B	4.26B	3.76B
Operating Income (REIT / Utility Template)	772M	836M	1.04B	901M	1.04B
Interest Expense, Total	-69.33M	-168M	-251M	-236M	-132M
Interest and Investment Income	15.48M	26.34M	88.96M	97.3M	47.15M
Net Interest Expenses	-53.85M	-142M	-162M	-139M	-84.38M
Other Non Operating Income (Expenses)	-12.58M	-302M	-	-	-61.28M
EBT, Excl. Unusual Items	706M	392M	876M	762M	898M
Gain (Loss) on Sale of Assets	90K	-	-	-	-
Legal Settlements	-	-	-	-	-
EBT, Incl. Unusual Items	706M	392M	876M	762M	898M
Income Tax Expense	231M	118M	279M	235M	283M
Earnings From Continuing Operations	475M	274M	597M	527M	615M
Net Income to Company	475M	274M	597M	527M	615M
Net Income - (IS)	475M	274M	597M	527M	615M
Net Income to Common Incl Extra Items	475M	274M	597M	527M	615M
Net Income to Common Excl. Extra Items	475M	274M	597M	527M	615M
Per Share Items
Net EPS - Basic	1.83	1.06	2.3	2.13	2.37
Basic EPS - Continuing Operations	1.83	1.06	2.3	2.13	2.37
Basic Weighted Average Shares Outstanding	260M	260M	-	247M	260M
Net EPS - Diluted	1.83	1.06	2.3	2.13	2.37
Diluted EPS - Continuing Operations	1.83	1.06	2.3	2.13	2.37
Diluted Weighted Average Shares Outstanding	260M	260M	-	247M	260M
Normalized Basic EPS	1.7	0.94	2.11	1.92	2.16
Normalized Diluted EPS	1.7	0.94	2.11	1.92	2.16
Dividend Per Share	0.64	1.06	1.51	0.55	0.65
Payout Ratio	64.25	58.2	44.31	72.24	21.4
Supplemental Items
Utility Revenues	4B	5.77B	5.6B	5.16B	4.81B
Non Utility Revenues	414M	366M	-	-	-
EBITDA	894M	960M	1.19B	1.06B	1.19B
EBITA	891M	959M	1.18B	1.06B	1.18B
EBIT	772M	836M	1.04B	901M	1.04B
EBITDAR	896M	964M	1.19B	1.06B	1.19B
Effective Tax Rate - (Ratio)	32.76	30.12	31.83	30.84	31.5
Current Domestic Taxes	-	-	-	-	-
Total Current Taxes	237M	232M	320M	265M	265M
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	-6.13M	-113M	-40.81M	-30.3M	18.14M
Normalized Net Income	441M	245M	547M	476M	561M
Interest Capitalized	1.16M	3.67M	-	-	10.02M
Interest on Long-Term Debt	2.06M	4.59M	-	-	7.54M
Non-Cash Pension Expense	-2.64M	-2.58M	-	-	-2.4M
Supplemental Operating Expense Items
Selling and Marketing Expenses	85.14M	194M	2.43M	2.59M	82.63M
General and Administrative Expenses	294M	317M	115M	124M	413M
Net Rental Expense, Total	2.78M	3.18M	3.53M	2.44M	1.56M
Imputed Operating Lease Interest Expense	1.31M	3.55M	5.67M	3.81M	1.81M
Imputed Operating Lease Depreciation	1.47M	-370K	-2.14M	-1.37M	-245K
Maintenance & Repair Expenses, Total	35.49M	47.74M	53.57M	56.94M	57.27M

Fiscal Period: December	2021 (BRL)	2022 (BRL)	2023 (BRL)	2024 (BRL)	2025 (BRL)
Assets
Cash And Equivalents	197M	365M	76.52M	84.97M	237M
Short Term Investments - (Utility / Insurance Templates)	-	-	440M	327M	-
Accounts Receivable, Total	680M	729M	672M	704M	648M
Other Receivables	23.24M	72.46M	14.69M	26.3M	26.16M
Accounts Receivable (Summary Subtotal)	703M	802M	687M	730M	674M
Inventory - (Utility Template)	3.69M	4.56M	8.86M	7.88M	10.21M
Prepaid Expenses	-	-	-	-	-
Other Current Assets, Total	-	-	-	52.8M	142M
Total Current Assets	904M	1.17B	1.21B	1.2B	1.06B
Gross Property Plant And Equipment	-	-	-	-	-
Accumulated Depreciation	-	-	-	-	-
Net Property Plant And Equipment	7.74M	6.78M	14.82M	16.48M	13.64M
Other Intangibles, Total	2.22B	2.32B	2.46B	2.55B	2.7B
Long-Term Investments - (Utility Template)	380K	380K	380K	380K	380K
Accounts Receivable Long-Term	1.73M	27.14M	29.72M	33.11M	12.73M
Loans Receivable Long-Term - (Utility Template)	-	-	0	0	-
Deferred Tax Assets Long-Term (Collected)	280M	406M	449M	453M	432M
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	326M	338M	368M	398M	455M
Total Assets	3.74B	4.27B	4.53B	4.65B	4.67B
Liabilities
Accounts Payable, Total	485M	565M	506M	459M	407M
Accrued Expenses, Total	151M	154M	203M	251M	262M
Short-Term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	589M	242M	142M	500M	618M
Current Portion of Leases	3.12M	1.85M	916K	7.22M	9.69M
Current Income Taxes Payable	81.42M	61.9M	53.76M	63.18M	31.68M
Other Current Liabilities - (Bank / Utility Template)	144M	97.58M	159M	150M	182M
Total Current Liabilities	1.45B	1.12B	1.06B	1.43B	1.51B
Long-Term Debt	601M	1.01B	1.08B	667M	136M
Long-Term Leases	7.23M	7.32M	16.75M	12.7M	7.12M
Pension & Other Post Retirement Benefits	187M	216M	198M	100M	92.03M
Other Non Current Liabilities, Total	471M	764M	789M	849M	884M
Total Liabilities	2.72B	3.12B	3.14B	3.06B	2.63B
Common Stock, Total	644M	644M	644M	644M	644M
Retained Earnings	479M	634M	876M	1.03B	1.47B
Comprehensive Income and Other	-103M	-126M	-131M	-80.3M	-74.05M
Total Common Equity	1.02B	1.15B	1.39B	1.59B	2.04B
Total Equity	1.02B	1.15B	1.39B	1.59B	2.04B
Total Liabilities And Equity	3.74B	4.27B	4.53B	4.65B	4.67B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	260M	258M	247M	247M	247M
ECS Total Common Shares Outstanding	260M	258M	247M	247M	247M
Book Value / Share	3.93	4.46	5.61	6.43	8.26
Tangible Book Value	-1.2B	-1.17B	-1.07B	-955M	-653M
Tangible Book Value Per Share	-4.62	-4.53	-4.32	-3.86	-2.64
Total Debt	1.2B	1.26B	1.24B	1.19B	771M
Net Debt	1B	894M	719M	774M	534M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-450M	-466M	-	-	-76.53M
Debt Equivalent Oper. Leases	22.22M	25.42M	28.21M	19.54M	12.52M
Account Code - Inventory Valuation	3	3	3	3	3
Full Time Employees	321	316	295	291	291
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	464M	504M	-

Fiscal Period: December	2021 (BRL)	2022 (BRL)	2023 (BRL)	2024 (BRL)	2025 (BRL)
Net Income	475M	274M	597M	527M	615M
Depreciation, Depletion & Amortization	2.32M	1.85M	4.38M	6.73M	9.36M
Amortization of Goodwill and Intangible Assets - (CF)	119M	123M	145M	155M	137M
Total Depreciation, Depletion & Amortization	121M	124M	149M	161M	147M
Amortization of Deferred Charges, Total	21.99M	21.83M	6.27M	-	25.81M
(Gain) Loss On Sale of Asset - (CF)	-	-	-	-	-
Total Asset Writedown	-	-145K	-89K	-2.24M	-
Provision and Write-off of Bad Debts	18.51M	97.7M	107M	39.96M	18.95M
Change in Accounts Receivable	-237M	-172M	-51.85M	-75.42M	57.22M
Change In Inventories	-680K	-876K	-4.29M	975K	-2.33M
Change in Accounts Payable	198M	79.39M	-58.95M	-46.79M	-52.24M
Change In Income Taxes	23.52M	-56.69M	-5.23M	36.09M	-12.61M
Change in Other Net Operating Assets (Collected)	6.46M	20.55M	-17.01M	-45.36M	-90.41M
Other Operating Activities	3.88M	195M	-3.48M	-4.44M	-7.46M
Cash from Operations	630M	583M	718M	591M	699M
Purchase / Sale of Intangible Assets	-131M	-240M	-283M	-243M	-314M
Cash from Investing	-131M	-240M	-283M	-243M	-314M
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Long-Term Debt Repaid, Total	-6.96M	-5.63M	-8.52M	-60.1M	-414M
Total Debt Repaid	-6.96M	-5.63M	-8.52M	-60.1M	-414M
Common Dividends Paid	-305M	-159M	-265M	-381M	-132M
Common & Preferred Stock Dividends Paid	-305M	-159M	-265M	-381M	-132M
Special Dividend Paid	-255M	-	-	-	-
Other Financing Activities, Total	-47M	-9.41M	-10.45M	-11.69M	-15.26M
Cash from Financing	-614M	-174M	-284M	-452M	-561M
Miscellaneous Cash Flow Adjustments	-	-	-	-	-
Net Change in Cash	-114M	168M	152M	-105M	-176M
Supplemental Items
Cash Interest Paid	51.23M	113M	205M	143M	158M
Cash Income Tax Paid (Refund)	239M	257M	256M	254M	279M
Net Debt Issued / Repaid	-6.96M	-5.63M	-8.52M	-60.1M	-414M
Levered Free Cash Flow	503M	241M	518M	241M	352M
Unlevered Free Cash Flow	545M	342M	668M	389M	434M
Change In Net Working Capital	-51.46M	82.32M	-154M	92.38M	76.42M

Fiscal Period: December	2021 (BRL)	2022 (BRL)	2023 (BRL)	2024 (BRL)	2025 (BRL)
Profitability
Return on Assets	13.5	13.05	14.73	12.26	13.99
Return on Total Capital	20.97	22.55	25.74	20.84	23.32
Return On Equity %	42.88	25.21	46.98	35.34	33.84
Return on Common Equity	42.88	25.21	46.98	35.34	33.84
Margin Analysis
Gross Profit Margin %	26.47	22.79	27.54	26.38	33.15
SG&A Margin	8.6	8.32	4.64	5.6	10.3
EBITDA Margin %	20.25	15.66	21.18	20.58	24.77
EBITA Margin %	20.2	15.63	21.1	20.45	24.57
EBIT Margin %	17.5	13.63	18.52	17.45	21.72
Income From Continuing Operations Margin %	10.76	4.47	10.66	10.2	12.8
Net Income Margin %	10.76	4.47	10.66	10.2	12.8
Net Avail. For Common Margin %	10.76	4.47	10.66	10.2	12.8
Normalized Net Income Margin	10	3.99	9.77	9.22	11.68
Levered Free Cash Flow Margin	11.4	3.93	9.25	4.67	7.33
Unlevered Free Cash Flow Margin	12.35	5.57	11.93	7.53	9.04
Asset Turnover
Asset Turnover	1.23	1.53	1.27	1.12	1.03
Fixed Assets Turnover	403.19	844.81	518.77	329.88	319.26
Receivables Turnover (Average Receivables)	7.74	8.71	8	7.5	7.11
Inventory Turnover (Average Inventory)	969.26	1.15K	604.91	454.06	355.25
Short Term Liquidity
Current Ratio	0.62	1.04	1.14	0.84	0.7
Quick Ratio	0.62	1.04	1.13	0.8	0.6
Operating Cash Flow to Current Liabilities	0.43	0.52	0.68	0.41	0.46
Days Sales Outstanding (Average Receivables)	47.17	41.93	45.64	48.77	51.33
Days Outstanding Inventory (Average Inventory)	0.38	0.32	0.6	0.81	1.03
Average Days Payable Outstanding	43.44	40.45	48.07	46.47	49.13
Cash Conversion Cycle (Average Days)	4.11	1.79	-1.83	3.11	3.23
Long Term Solvency
Total Debt/Equity	117.57	109.31	88.97	74.55	37.71
Total Debt / Total Capital	54.04	52.22	47.08	42.71	27.38
LT Debt/Equity	59.57	88.15	78.7	42.7	7.01
Long-Term Debt / Total Capital	27.38	42.12	41.65	24.46	5.09
Total Liabilities / Total Assets	72.7	73.01	69.36	65.78	56.26
EBIT / Interest Expense	11.14	4.98	4.14	3.81	7.94
EBITDA / Interest Expense	12.89	5.72	4.74	4.49	9.05
(EBITDA - Capex) / Interest Expense	12.89	5.72	4.74	4.49	9.05
Total Debt / EBITDA	1.34	1.31	1.04	1.12	0.65
Net Debt / EBITDA	1.12	0.93	0.61	0.73	0.45
Total Debt / (EBITDA - Capex)	1.34	1.31	1.04	1.12	0.65
Net Debt / (EBITDA - Capex)	1.12	0.93	0.61	0.73	0.45
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	38.57	38.98	-8.67	-7.86	-6.88
Gross Profit, 1 Yr. Growth %	11.72	19.61	14.31	-11.74	12.33
EBITDA, 1 Yr. Growth %	22.32	7.46	21.38	-10.5	12.1
EBITA, 1 Yr. Growth %	22.79	7.53	21.16	-10.73	41.51
EBIT, 1 Yr. Growth %	26.26	8.21	24.1	-13.16	15.88
Earnings From Cont. Operations, 1 Yr. Growth %	34.86	-42.31	117.91	-11.76	16.81
Net Income, 1 Yr. Growth %	34.86	-42.31	117.91	-11.76	16.81
Diluted EPS Before Extra, 1 Yr. Growth %	34.86	-42.31	117.91	-7.4	16.81
Normalized Net Income, 1 Yr. Growth %	35.44	-44.47	123.37	-13.02	17.93
Net Property, Plant and Equip., 1 Yr. Growth %	-45.26	-12.51	118.74	11.15	-17.21
Inventory, 1 Yr. Growth %	22.61	23.75	94.06	-11.01	29.52
Accounts Receivable, 1 Yr. Growth %	47.61	7.22	-7.86	4.77	-7.93
Total Assets, 1 Yr. Growth %	9.59	14.18	6.17	2.62	0.48
Tangible Book Value, 1 Yr. Growth %	15.92	-2.6	-8.47	-10.69	-31.58
Cash From Operations, 1 Yr. Growth %	30.34	-7.54	23.22	-17.33	18.31
Levered Free Cash Flow, 1 Yr. Growth %	152.27	-52.15	1.49K	-52.89	15.84
Unlevered Free Cash Flow, 1 Yr. Growth %	139.48	-37.32	95.59	-41.82	11.73
Dividend Per Share, 1 Yr. Growth %	8.95	64.84	42.72	-63.33	17.93
Common Equity, 1 Yr. Growth %	-14.52	12.88	20.56	14.6	28.42
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-2.38	38.77	12.66	-8.26	-7.37
Gross Profit, 2 Yr. CAGR %	6.59	15.6	16.7	0.44	1.63
EBITDA, 2 Yr. CAGR %	11.95	14.65	13.93	4.23	0.17
EBITA, 2 Yr. CAGR %	12.15	14.91	13.87	4	-0.04
EBIT, 2 Yr. CAGR %	13.69	16.89	15.88	3.81	0.31
Earnings From Cont. Operations, 2 Yr. CAGR %	12.84	-11.79	12.12	38.67	1.53
Net Income, 2 Yr. CAGR %	12.84	-11.79	12.12	38.67	1.53
Diluted EPS Before Extra, 2 Yr. CAGR %	12.84	-11.79	12.12	42.05	1.53
Normalized Net Income, 2 Yr. CAGR %	13.69	-13.28	11.36	39.39	1.28
Net Property, Plant and Equip., 2 Yr. CAGR %	-9.27	-30.79	38.34	55.93	-4.07
Inventory, 2 Yr. CAGR %	8.51	23.18	54.97	31.42	7.36
Accounts Receivable, 2 Yr. CAGR %	11.88	25.8	-0.6	-1.75	-1.78
Total Assets, 2 Yr. CAGR %	7.34	11.86	10.1	4.38	1.54
Common Equity, 2 Yr. CAGR %	5.74	-1.77	16.66	17.54	21.31
Tangible Book Value, 2 Yr. CAGR %	-4.4	6.26	-5.58	-9.59	-21.83
Cash From Operations, 2 Yr. CAGR %	17.63	9.78	6.74	0.68	-1.1
Levered Free Cash Flow, 2 Yr. CAGR %	-0.29	9.95	4.19	172.35	-17.03
Unlevered Free Cash Flow, 2 Yr. CAGR %	-0.29	22.52	10.72	6.68	-19.37
Dividend Per Share, 2 Yr. CAGR %	-	34.01	53.38	-27.65	-34.24
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	2.05	9.82	20.71	5.36	-7.8
Gross Profit, 3 Yr. CAGR %	6.03	10.77	13.84	6.33	5.69
EBITDA, 3 Yr. CAGR %	19.57	10.43	17.55	5.13	6.79
EBITA, 3 Yr. CAGR %	19.47	10.59	17.66	4.99	6.58
EBIT, 3 Yr. CAGR %	22.93	11.83	19.25	5.25	7.69
Earnings From Cont. Operations, 3 Yr. CAGR %	39.98	-9.77	19.24	3.52	30.96
Net Income, 3 Yr. CAGR %	39.98	-9.77	19.24	3.52	30.96
Diluted EPS Before Extra, 3 Yr. CAGR %	39.98	-9.77	19.24	5.2	30.96
Normalized Net Income, 3 Yr. CAGR %	44.62	-10.47	18.87	2.56	31.83
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-10.37	1.56	28.61	26.26
Inventory, 3 Yr. CAGR %	27.53	13.37	43.33	28.81	30.78
Accounts Receivable, 3 Yr. CAGR %	10.88	10.31	13.4	1.16	-3.85
Total Assets, 3 Yr. CAGR %	4.71	9.57	9.93	7.55	3.06
Common Equity, 3 Yr. CAGR %	-7.59	8.07	5.17	15.97	21.06
Tangible Book Value, 3 Yr. CAGR %	9.84	-3.8	1.1	-7.32	-17.61
Cash From Operations, 3 Yr. CAGR %	10.61	8.56	14.08	-2.14	6.24
Levered Free Cash Flow, 3 Yr. CAGR %	32.9	-21.9	37.44	-20.35	121.31
Unlevered Free Cash Flow, 3 Yr. CAGR %	28.54	-14.59	43.19	-10.65	8.33
Dividend Per Share, 3 Yr. CAGR %	-	-	36.85	-4.8	-14.86
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	7.18	9.87	6.17	2.19	8.58
Gross Profit, 5 Yr. CAGR %	4.99	7.18	9.5	5.78	8.79
EBITDA, 5 Yr. CAGR %	7.9	7.07	17.82	8.3	10.26
EBITA, 5 Yr. CAGR %	7.84	7.03	17.73	8.29	10.23
EBIT, 5 Yr. CAGR %	8.22	7.43	20.06	8.55	11.28
Earnings From Cont. Operations, 5 Yr. CAGR %	10.31	-4.16	28.09	7.15	11.81
Net Income, 5 Yr. CAGR %	10.31	-4.16	28.09	7.15	11.81
Diluted EPS Before Extra, 5 Yr. CAGR %	10.31	-4.16	28.09	8.19	11.81
Normalized Net Income, 5 Yr. CAGR %	11.54	-3.87	30.27	6.87	11.5
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	11.86	-0.73
Inventory, 5 Yr. CAGR %	9.91	15.18	37.87	20.27	27.69
Accounts Receivable, 5 Yr. CAGR %	11.55	7.54	6.14	5.32	7.06
Total Assets, 5 Yr. CAGR %	5.9	6.61	6.83	7.47	6.5
Common Equity, 5 Yr. CAGR %	-4.09	-3.03	1.44	11.76	11.35
Tangible Book Value, 5 Yr. CAGR %	9.43	6.89	3.39	-6.16	-8.78
Cash From Operations, 5 Yr. CAGR %	15.63	4.66	9.05	5.33	7.64
Levered Free Cash Flow, 5 Yr. CAGR %	39.06	2.13	19.29	-13.79	12.04
Unlevered Free Cash Flow, 5 Yr. CAGR %	27.19	4.38	21.09	-6.64	13.8
Dividend Per Share, 5 Yr. CAGR %	-4	-	-	-	2.08