CIG
Companhia Energética de Minas Gerais - CEMIG
Price Chart
Latest Quote
$2.05
-0.01 (-0.49%)
Current Price
| Previous Close | $2.06 |
| Open | $2.04 |
| Day High | $2.07 |
| Day Low | $2.03 |
| Volume | 7,844,140 |
Stock Information
Note: Financial values converted from BRL to USD
| Quarterly Dividend / Yield | $0.16 / 7.68% |
| Shares Outstanding | 1.90B |
| Quarterly Dividend Yield | 7.68% |
| Quarterly Dividend | $0.16 |
| Total Debt | $3.89B |
| Cash Equivalents | $348.06M |
| Revenue | $8.42B |
| Net Income | $939.36M |
| Sector | Utilities |
| Industry | Utilities - Regulated Electric |
| Market Cap | $5.86B |
| P/E Ratio | 6.03 |
| EPS (TTM) | $0.34 |
| Exchange | NYQ |
📊 Comprehensive Analysis
Company Data
| Enterprise Value | $24.20B |
| Sales | $8.42B |
| Income | $939.36M |
| Book/sh | $1.99 |
| Cash/sh | $0.94 |
| Employees | 5K |
Financial Ratios
| Quick Ratio | 0.66 |
| Current Ratio | 0.93 |
| Debt/Eq | 69.26 |
| EPS Growth TTM | -5.80% |
Returns & Margins
| ROA | 5.93% |
| ROE | 17.04% |
| Gross Margin | 11.87% |
| Operating Margin | 12.51% |
| Profit Margin | 11.15% |
Ownership
| Institutional Ownership | 8.02% |
| Insider & Institutional transactions data not available | |
Valuation Ratios
| Forward P/E | 13.67 |
| PEG | 0.33 |
| P/S | 0.14 |
| P/B | 1.03 |
Analyst Data
| Recommendation | none |
| Target Price | $2.14 |
Technical Indicators
| SMA20 | $2.12 |
| SMA50 | $2.32 |
| SMA200 | $2.11 |
| RSI | 36.11 |
| ATR | 0.0579 |
| Shares Float | 2.37B |
| Volatility | 0.09 |
| Rel Volume | 1.48 |
Performance History
| Week | -1.91% |
| Month | -7.24% |
| Quarter | -7.25% |
| 6 Months | +7.20% |
| YTD | +3.56% |
| Year | +12.20% |
| 3 Years | +53.01% |
| 5 Years | +80.85% |
| 10 Years | +287.74% |
Stock Score:
⭐ Premium
Based on debt, profitability, growth, and cash flow metrics
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Recent Price History
| Date | Close | Volume |
|---|---|---|
| 2026-06-18 | $2.05 | 11,130,600 |
| 2026-06-17 | $2.06 | 9,603,300 |
| 2026-06-16 | $2.09 | 8,814,600 |
| 2026-06-15 | $2.09 | 8,605,600 |
| 2026-06-12 | $2.09 | 3,757,400 |
| 2026-06-11 | $2.09 | 13,090,700 |
| 2026-06-10 | $2.05 | 6,917,900 |
| 2026-06-09 | $2.08 | 10,741,500 |
| 2026-06-08 | $2.04 | 11,024,900 |
| 2026-06-05 | $2.09 | 8,104,100 |
| 2026-06-04 | $2.10 | 2,752,700 |
| 2026-06-03 | $2.11 | 8,685,200 |
| 2026-06-02 | $2.15 | 8,076,000 |
| 2026-06-01 | $2.10 | 5,887,400 |
| 2026-05-29 | $2.15 | 5,962,500 |
| 2026-05-28 | $2.16 | 3,876,000 |
| 2026-05-27 | $2.19 | 8,906,200 |
| 2026-05-26 | $2.19 | 3,639,700 |
| 2026-05-22 | $2.21 | 4,011,900 |
| 2026-05-21 | $2.23 | 6,331,200 |
| 2026-05-20 | $2.29 | 11,718,700 |
| 2026-05-19 | $2.21 | 6,700,800 |
About Companhia Energética de Minas Gerais - CEMIG
Companhia Energética de Minas Gerais - CEMIG, through its subsidiaries, engages in the generation, transmission, distribution, and sale of energy in Brazil. As of December 31, 2025, the company operated 32 hydro plants with a total capacity of 4,434 M, 2 wind farms with a total capacity of 71 MW, and 12 photovoltaic power stations with a total capacity of 169 MW; 365,577 miles of distribution lines; and 4,865 miles of transmission lines. It is also involved in the acquisition, transportation, and distribution of gas and its sub products and derivatives; sale and trading of energy; construction, implementation, operation and maintenance of electricity transmission; marketing and intermediation of energy-related business; installation, operation, maintenance and rental of solar plants; and distributed generation, account services, cogeneration, energy efficiency, and supply and storage management activities. The company was incorporated in 1952 and is headquartered in Belo Horizonte, Brazil.
📰 Latest News
Comp En De Mn Cemig ADS Q1 Earnings Call Highlights
MarketBeat • 2026-05-09T19:06:12Z
Cia Energetica DE Minas Gerais - Cemig (CIG) Q4 2025 Earnings Call Highlights: Record ...
GuruFocus.com • 2026-03-20T21:00:30ZCarel Industries SpA (FRA:CIG) Q4 2025 Earnings Call Highlights: Strong Organic Growth and ...
GuruFocus.com • 2026-03-17T01:00:53ZSector Update: Energy Stocks Gain Friday Afternoon
MT Newswires • 2025-11-14T18:57:55ZCompanhia Energetica De Minas Gerais (CIG) Releases its Earnings Report for the Second Quarter of 2025
Insider Monkey • 2025-09-30T21:01:25Z
CEMIG Plans to Invest in Clean Energy Projects Using Its Experience In HydroPower
Insider Monkey • 2025-09-19T04:20:15Z
Brazil's Cemig plans to leverage hydroelectric expertise for new power projects
Reuters • 2025-09-10T16:56:06ZCemig: Q2 Earnings Snapshot
Associated Press Finance • 2025-08-15T09:08:20ZCompanhia Energética de Minas Gerais – CEMIG (CIG) Unveils $6.3B Modernization Plan to Reinvent Brazil’s Energy Grid
Insider Monkey • 2025-07-31T16:23:27Z
Companhia Energética de Minas Gerais – CEMIG (CIG)Launches $6.3B Modernization Plan
Insider Monkey • 2025-07-26T02:38:52Z
Period:
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Income Statement (Annual)
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Revenue | ||||
| Reconciled Cost Of Revenue | $6,720,213,424 | $6,053,744,344 | $5,378,186,151 | $5,244,220,531 |
| Cost Of Revenue | $7,017,190,307 | $6,320,885,226 | $5,624,580,145 | $5,463,544,776 |
| Total Revenue | $8,447,144,867 | $7,868,010,306 | $7,281,169,758 | $6,284,331,185 |
| Operating Revenue | $10,301,323,890 | $9,785,615,530 | $8,990,318,155 | $8,633,866,859 |
| Expenses | ||||
| Interest Expense | $296,976,883 | $195,415,926 | $200,158,072 | $183,362,972 |
| Total Expenses | $7,196,799,080 | $6,298,557,623 | $6,053,546,754 | $6,114,799,471 |
| Other Income Expense | $137,324,640 | $382,137,919 | $260,422,842 | $217,941,119 |
| Other Non Operating Income Expenses | $-39,320,293 | - | $790,358 | $987,947 |
| Net Non Operating Interest Income Expense | $-267,338,472 | $-166,963,051 | $-134,360,799 | $-97,806,758 |
| Total Other Finance Cost | $55,522,624 | $55,325,035 | $14,819,206 | $-3,754,199 |
| Interest Expense Non Operating | $296,976,883 | $195,415,926 | $200,158,072 | $183,362,972 |
| Operating Expense | $179,608,774 | $-22,327,603 | $428,966,609 | $651,254,695 |
| Other Operating Expenses | $68,958,704 | $37,739,577 | $55,917,803 | $49,594,942 |
| Selling And Marketing Expense | $0 | $0 | $0 | $0 |
| General And Administrative Expense | $24,501,087 | $248,962,657 | $282,157,677 | $279,193,836 |
| Income & Earnings | ||||
| Net Income From Continuing Operation Net Minority Interest | $967,595,341 | $1,406,243,831 | $1,138,905,359 | $808,535,866 |
| Net Interest Income | $-267,338,472 | $-166,963,051 | $-134,360,799 | $-97,806,758 |
| Interest Income | $85,161,036 | $83,777,910 | $80,616,479 | $81,802,016 |
| Normalized Income | $859,885,224 | $1,149,186,331 | $991,536,301 | $757,486,271 |
| Net Income From Continuing And Discontinued Operation | $967,595,341 | $1,406,243,831 | $1,138,905,359 | $808,535,866 |
| Net Income Common Stockholders | $967,595,341 | $1,406,243,831 | $1,138,905,359 | $808,535,866 |
| Net Income | $967,595,341 | $1,406,243,831 | $1,138,905,359 | $808,535,866 |
| Net Income Including Noncontrolling Interests | $967,990,520 | $1,406,639,010 | $1,139,498,127 | $808,931,045 |
| Net Income Continuous Operations | $967,990,520 | $1,406,639,010 | $1,139,498,127 | $808,931,045 |
| Pretax Income | $1,120,331,955 | $1,849,041,699 | $1,353,685,048 | $814,068,369 |
| Special Income Charges | $10,274,649 | $2,173,484 | $1,778,305 | $-32,997,431 |
| Earnings From Equity Interest | $51,966,015 | $44,260,028 | $85,358,625 | $166,567,873 |
| Interest Income Non Operating | $85,161,036 | $83,777,910 | $80,616,479 | $81,802,016 |
| Operating Income | $1,250,345,786 | $1,569,452,684 | $1,227,623,004 | $694,724,366 |
| Depreciation Amortization Depletion Income Statement | $5,927,682 | $4,742,146 | $5,334,914 | $14,226,438 |
| Depreciation And Amortization In Income Statement | $5,927,682 | $4,742,146 | $5,334,914 | $14,226,438 |
| Gross Profit | $1,429,954,560 | $1,547,125,080 | $1,656,589,613 | $820,786,409 |
| Total Operating Income As Reported | - | - | - | $1,123,493,385 |
| Net Income Discontinuous Operations | - | - | - | - |
| Per Share | ||||
| Diluted EPS | $0.34 | $0.49 | $0.40 | $0.37 |
| Basic EPS | $0.34 | $0.49 | $0.40 | $0.37 |
| Other | ||||
| Tax Effect Of Unusual Items | $16,968,801 | $80,820,392 | $27,695,159 | $323,651 |
| Tax Rate For Calcs | $0 | $0 | $0 | $0 |
| Normalized EBITDA (Bullshit earnings) | $1,595,534,486 | $1,978,462,762 | $1,630,507,811 | $1,179,608,778 |
| Total Unusual Items | $124,678,918 | $337,877,891 | $175,064,217 | $51,373,247 |
| Total Unusual Items Excluding Goodwill | $124,678,918 | $337,877,891 | $175,064,217 | $51,373,247 |
| Reconciled Depreciation | $302,904,566 | $271,883,028 | $251,728,908 | $233,550,683 |
| EBITDA (Bullshit earnings) | $1,720,213,403 | $2,316,340,653 | $1,805,572,029 | $1,230,982,024 |
| EBIT | $1,417,308,838 | $2,044,457,625 | $1,553,843,120 | $997,431,342 |
| Diluted Average Shares | $565,240,445 | $565,240,445 | $565,240,445 | $565,240,445 |
| Basic Average Shares | $565,240,445 | $565,240,445 | $565,240,445 | $565,240,445 |
| Diluted NI Availto Com Stockholders | $967,595,341 | $1,406,243,831 | $1,138,905,359 | $808,535,866 |
| Minority Interests | $-395,179 | $-395,179 | $-592,768 | $-395,179 |
| Tax Provision | $152,341,435 | $442,402,689 | $214,186,920 | $5,137,325 |
| Gain On Sale Of Ppe | $7,903,576 | $8,496,345 | $0 | $0 |
| Write Off | $0 | $9,089,113 | $0 | $33,985,379 |
| Restructuring And Mergern Acquisition | $-2,371,073 | $-2,766,252 | $-1,778,305 | $-987,947 |
| Gain On Sale Of Security | $114,404,268 | $335,704,408 | $173,285,913 | $84,370,678 |
| Other Taxes | $48,409,405 | $-348,350,130 | $50,978,068 | $286,702,234 |
| Provision For Doubtful Accounts | $31,811,895 | $34,578,147 | $34,578,147 | $21,537,246 |
| Selling General And Administration | $24,501,087 | $248,962,657 | $282,157,677 | $279,193,836 |
| Other Gand A | $81,802,016 | $79,826,122 | $73,503,261 | $66,587,631 |
| Insurance And Claims | $0 | $0 | $0 | $0 |
| Salaries And Wages | $-57,300,929 | $169,136,535 | $208,654,417 | $212,606,205 |
| Excise Taxes | $0 | $-101,363,367 | $-377,198,184 | $-466,311,008 |
| Gain On Sale Of Business | - | - | $0 | $0 |
| Other Special Charges | - | - | - | - |
Fetched: 2026-06-17
Balance Sheet (Annual)
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Assets | ||||
| Net Tangible Assets | $1,981,624,193 | $2,088,717,653 | $1,857,735,633 | $1,414,147,407 |
| Total Assets | $13,244,022,973 | $11,801,422,691 | $10,867,417,550 | $10,604,821,224 |
| Total Non Current Assets | $10,383,323,496 | $9,384,509,028 | $8,522,228,843 | $7,944,279,818 |
| Other Non Current Assets | $308,634,658 | $268,128,829 | $262,793,915 | $253,112,034 |
| Non Current Deferred Assets | $366,133,177 | $461,173,683 | $601,659,753 | $616,478,959 |
| Non Current Deferred Taxes Assets | $366,133,177 | $461,173,683 | $601,659,753 | $616,478,959 |
| Non Current Accounts Receivable | $2,879,470,472 | $2,501,086,752 | $1,876,309,037 | $1,494,368,708 |
| Investmentin Financial Assets | $1,658,763,097 | $1,386,484,890 | $1,131,396,962 | $1,002,173,488 |
| Goodwill And Other Intangible Assets | $3,664,690,787 | $3,320,687,624 | $3,012,843,324 | $2,888,954,764 |
| Other Intangible Assets | $3,664,690,787 | $3,320,687,624 | $3,012,843,324 | $2,888,954,764 |
| Current Assets | $2,860,699,478 | $2,416,913,663 | $2,345,188,707 | $2,660,541,406 |
| Other Current Assets | $381,940,330 | $223,078,444 | $179,213,595 | $175,656,985 |
| Assets Held For Sale Current | $0 | $11,262,596 | $11,460,186 | $0 |
| Restricted Cash | $47,421,458 | $46,433,511 | $6,125,272 | - |
| Receivables | $1,574,392,419 | $1,455,246,005 | $1,458,209,846 | $1,646,907,732 |
| Other Receivables | $16,004,742 | $21,932,425 | $9,879,470 | $28,848,054 |
| Taxes Receivable | $193,044,854 | $102,351,314 | $206,678,523 | $531,910,692 |
| Accounts Receivable | $1,145,030,631 | $1,105,710,338 | $1,073,700,854 | $942,303,896 |
| Cash Cash Equivalents And Short Term Investments | $856,945,271 | $680,893,107 | $617,466,906 | $837,976,688 |
| Cash And Cash Equivalents | $375,815,058 | $375,024,700 | $303,694,923 | $284,726,340 |
| Cash Equivalents | $322,070,738 | $321,873,149 | $265,164,988 | $265,955,346 |
| Cash Financial | $53,744,320 | $53,151,551 | $38,529,935 | $18,770,994 |
| Hedging Assets Current | - | $0 | $72,712,903 | $0 |
| Financial Assets | - | - | $0 | $138,905,355 |
| Debt | ||||
| Net Debt | $3,470,460,397 | $2,051,373,255 | $1,638,806,567 | $1,805,967,207 |
| Total Debt | $3,928,670,239 | $2,511,163,812 | $2,028,057,704 | $2,160,640,198 |
| Long Term Debt And Capital Lease Obligation | $3,308,041,902 | $1,927,089,516 | $1,492,787,993 | $1,960,679,715 |
| Long Term Debt | $3,243,232,576 | $1,857,933,222 | $1,422,841,341 | $1,901,995,661 |
| Current Debt And Capital Lease Obligation | $620,628,337 | $584,074,296 | $535,269,712 | $199,960,483 |
| Current Debt | $603,042,879 | $568,464,733 | $519,660,148 | $188,697,887 |
| Other Current Borrowings | $603,042,879 | $568,464,733 | $519,660,148 | $188,697,887 |
| Liabilities | ||||
| Total Liabilities Net Minority Interest | $7,596,720,046 | $6,391,029,466 | $5,995,653,057 | $6,300,533,517 |
| Total Non Current Liabilities Net Minority Interest | $4,739,181,999 | $3,595,929,673 | $3,408,614,912 | $4,086,939,356 |
| Other Non Current Liabilities | $26,476,981 | $28,255,286 | $35,566,094 | $49,990,121 |
| Tradeand Other Payables Non Current | $127,049,991 | $130,804,189 | $202,726,735 | $430,349,735 |
| Non Current Deferred Liabilities | $310,017,784 | $304,880,460 | $219,719,424 | $184,153,330 |
| Non Current Deferred Taxes Liabilities | $310,017,784 | $304,880,460 | $219,719,424 | $184,153,330 |
| Current Liabilities | $2,857,538,047 | $2,795,099,794 | $2,587,038,145 | $2,213,594,160 |
| Other Current Liabilities | $275,637,227 | $276,822,763 | $275,834,816 | $396,759,535 |
| Payables And Accrued Expenses | $1,826,121,327 | $1,866,231,977 | $1,678,324,449 | $1,519,462,563 |
| Interest Payable | $578,541,792 | $713,495,360 | $577,751,435 | $368,109,071 |
| Payables | $1,202,133,970 | $1,109,859,716 | $1,053,349,145 | $1,099,980,245 |
| Total Tax Payable | $241,059,080 | $279,391,426 | $317,921,361 | $450,503,855 |
| Income Tax Payable | $22,327,603 | $23,513,140 | $21,932,425 | $47,421,458 |
| Accounts Payable | $961,074,890 | $830,468,290 | $735,427,784 | $649,476,391 |
| Equity | ||||
| Common Stock Equity | $5,646,314,980 | $5,409,405,278 | $4,870,578,956 | $4,303,102,171 |
| Total Equity Gross Minority Interest | $5,647,302,927 | $5,410,393,225 | $4,871,764,493 | $4,304,287,707 |
| Stockholders Equity | $5,646,314,980 | $5,409,405,278 | $4,870,578,956 | $4,303,102,171 |
| Other Equity Interest | $-67,816,045 | $-177,803,597 | $-325,627,348 | $-370,282,554 |
| Gains Losses Not Affecting Retained Earnings | $2,819,008,112 | $2,582,098,410 | $3,021,339,668 | $2,498,518,089 |
| Other Equity Adjustments | $2,819,008,112 | $2,582,098,410 | $3,021,339,668 | $2,498,518,089 |
| Long Term Equity Investment | $604,623,595 | $636,435,490 | $915,234,147 | $1,009,089,117 |
| Retained Earnings | - | - | $0 | $0 |
| Other | ||||
| Treasury Shares Number | $217,351 | $217,351 | $217,351 | $217,351 |
| Ordinary Shares Number | $565,240,445 | $565,240,445 | $565,240,445 | $565,240,445 |
| Share Issued | $565,457,796 | $565,457,796 | $565,457,796 | $565,457,796 |
| Tangible Book Value | $1,981,624,193 | $2,088,717,653 | $1,857,735,633 | $1,414,147,407 |
| Invested Capital | $9,492,590,435 | $7,835,803,232 | $6,813,080,446 | $6,393,795,718 |
| Working Capital | $3,161,431 | $-378,186,131 | $-241,849,438 | $446,947,245 |
| Capital Lease Obligations | $82,394,784 | $84,765,857 | $85,556,215 | $69,946,651 |
| Total Capitalization | $8,889,547,556 | $7,267,338,500 | $6,293,420,298 | $6,205,097,832 |
| Minority Interest | $987,947 | $987,947 | $1,185,536 | $1,185,536 |
| Capital Stock | $2,827,306,868 | $2,827,306,868 | $2,174,866,636 | $2,174,866,636 |
| Common Stock | $2,827,306,868 | $2,827,306,868 | $2,174,866,636 | $2,174,866,636 |
| Employee Benefits | $495,159,061 | $804,781,667 | $1,005,334,918 | $1,048,014,231 |
| Non Current Pension And Other Postretirement Benefit Plans | $495,159,061 | $804,781,667 | $1,005,334,918 | $1,048,014,231 |
| Long Term Capital Lease Obligation | $64,809,326 | $69,156,294 | $69,946,651 | $58,684,055 |
| Long Term Provisions | $443,193,047 | $366,133,177 | $434,696,702 | $400,908,913 |
| Current Capital Lease Obligation | $17,585,457 | $15,609,563 | $15,609,563 | $11,262,596 |
| Pensionand Other Post Retirement Benefit Plans Current | $135,151,156 | $67,970,757 | $97,609,169 | $97,411,579 |
| Current Accrued Expenses | $623,987,357 | $756,372,261 | $624,975,304 | $419,482,317 |
| Investments And Advances | $2,263,386,692 | $2,022,920,380 | $2,046,631,109 | $2,011,262,604 |
| Available For Sale Securities | $1,658,763,097 | $1,386,484,890 | $1,131,396,962 | $1,000,790,362 |
| Net PPE | $901,007,710 | $810,511,760 | $721,991,704 | $541,197,394 |
| Accumulated Depreciation | $-1,149,970,366 | $-1,108,279,001 | $-1,081,802,020 | $-1,067,970,761 |
| Gross PPE | $2,050,978,076 | $1,918,790,761 | $1,803,793,724 | $1,609,168,155 |
| Leases | $53,744,320 | $52,163,604 | $48,606,995 | $42,284,134 |
| Construction In Progress | $227,030,232 | $327,208,063 | $238,490,418 | $74,886,386 |
| Other Properties | $1,094,447,742 | $879,668,053 | - | - |
| Other Short Term Investments | $481,130,213 | $305,868,407 | $313,771,983 | $553,250,348 |
| Held To Maturity Securities | - | - | $0 | $1,383,126 |
Fetched: 2026-06-17
Cash Flow Statement (Annual)
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Free Cash Flow | ||||
| Free Cash Flow | $592,570,641 | $904,366,730 | $1,063,426,205 | $1,235,328,991 |
| Operating Activities | ||||
| Operating Cash Flow | $805,572,025 | $1,085,951,397 | $1,313,179,219 | $1,293,025,099 |
| Cash Flow From Continuing Operating Activities | $805,572,025 | $1,085,951,397 | $1,313,179,219 | $1,293,025,099 |
| Operating Gains Losses | $-205,097,808 | $-213,198,973 | $-47,421,458 | $-25,489,034 |
| Cash From Discontinued Operating Activities | - | - | - | - |
| Investing Activities | ||||
| Capital Expenditure | $-213,001,384 | $-181,584,668 | $-249,753,014 | $-57,696,108 |
| Investing Cash Flow | $-1,316,538,239 | $-469,472,438 | $-784,232,368 | $-619,640,390 |
| Cash Flow From Continuing Investing Activities | $-1,316,538,239 | $-469,472,438 | $-784,232,368 | $-619,640,390 |
| Net Other Investing Changes | $-1,072,910,496 | $-917,605,220 | $-726,931,439 | $-614,898,244 |
| Cash From Discontinued Investing Activities | - | - | - | - |
| Financing Activities | ||||
| Financing Cash Flow | $511,756,572 | $-545,149,182 | $-509,978,267 | $-551,669,633 |
| Cash Flow From Continuing Financing Activities | $511,756,572 | $-545,149,182 | $-509,978,267 | $-551,669,633 |
| Cash Dividends Paid | $0 | $0 | $0 | $-413,752,225 |
| Dividend Received Cfo | $53,151,551 | $69,156,294 | $116,972,931 | $139,893,302 |
| Other | ||||
| Repayment Of Debt | $-549,100,970 | $-602,054,932 | $-542,580,520 | $-529,342,029 |
| Issuance Of Debt | $1,844,892,321 | $905,354,677 | $392,807,747 | $391,424,621 |
| End Cash Position | $375,815,058 | $375,024,700 | $303,694,923 | $284,726,340 |
| Beginning Cash Position | $375,024,700 | $303,694,923 | $284,726,340 | $163,011,263 |
| Changes In Cash | $790,358 | $71,329,777 | $18,968,583 | $121,715,077 |
| Interest Paid Cff | $-784,034,779 | $-848,448,927 | $-360,205,494 | $-413,752,225 |
| Net Issuance Payments Of Debt | $1,295,791,351 | $303,299,744 | $-149,772,773 | $-137,917,408 |
| Net Long Term Debt Issuance | $1,295,791,351 | $303,299,744 | $-149,772,773 | $-137,917,408 |
| Long Term Debt Payments | $-549,100,970 | $-602,054,932 | $-542,580,520 | $-529,342,029 |
| Long Term Debt Issuance | $1,844,892,321 | $905,354,677 | $392,807,747 | $391,424,621 |
| Net Investment Purchase And Sale | $-48,606,995 | $57,893,697 | $67,575,578 | $52,953,962 |
| Sale Of Investment | $3,374,234,355 | $3,344,003,175 | $2,442,205,108 | $2,849,239,292 |
| Purchase Of Investment | $-3,422,841,349 | $-3,286,109,478 | $-2,374,629,529 | $-2,796,285,330 |
| Net Business Purchase And Sale | $-395,179 | $551,867,222 | $124,876,507 | $0 |
| Sale Of Business | $197,589 | $552,064,812 | $132,187,315 | $10,274,649 |
| Purchase Of Business | $-592,768 | $-197,589 | $-7,310,808 | $-10,274,649 |
| Net Intangibles Purchase And Sale | $-74,886,386 | $-49,002,174 | $-37,146,809 | $-23,513,140 |
| Purchase Of Intangibles | $-74,886,386 | $-49,002,174 | $-37,146,809 | $-23,513,140 |
| Net PPE Purchase And Sale | $-119,739,182 | $-112,625,964 | $-212,606,205 | $-34,182,968 |
| Sale Of PPE | $18,375,815 | $19,956,530 | $0 | $0 |
| Purchase Of PPE | $-138,114,998 | $-132,582,494 | $-212,606,205 | $-34,182,968 |
| Taxes Refund Paid | $-145,425,806 | $-224,461,570 | $-118,751,235 | $-139,102,945 |
| Interest Received Cfo | $93,064,612 | $69,353,883 | $64,809,326 | $57,498,518 |
| Interest Paid Cfo | $-275,439,638 | $-190,081,012 | $-203,714,682 | $-200,355,662 |
| Change In Working Capital | $-115,392,215 | $89,508,003 | $210,235,132 | $606,006,720 |
| Change In Other Working Capital | $-82,394,784 | $-63,821,379 | $-96,818,811 | $-89,112,824 |
| Change In Other Current Liabilities | $-50,978,068 | $-62,635,843 | $-7,508,398 | $-86,939,340 |
| Change In Other Current Assets | $-42,876,902 | $-38,332,346 | $30,428,769 | $54,929,856 |
| Change In Payables And Accrued Expense | $75,281,565 | $119,146,414 | $235,328,987 | $170,124,482 |
| Change In Accrued Expense | $2,371,073 | $-4,149,378 | $-4,149,378 | $6,915,629 |
| Change In Payable | $72,910,492 | $123,295,792 | $239,478,365 | $163,208,853 |
| Change In Account Payable | $17,190,279 | $-12,843,312 | $36,554,041 | $29,440,822 |
| Change In Tax Payable | $55,720,214 | $136,139,103 | $202,924,324 | $133,768,031 |
| Change In Income Tax Payable | $55,720,214 | $136,139,103 | $202,924,324 | $133,768,031 |
| Change In Receivables | $-14,424,027 | $135,151,156 | $48,804,584 | $557,004,547 |
| Changes In Account Receivables | $-82,592,373 | $-109,266,944 | $-165,777,515 | $-86,939,340 |
| Other Non Cash Items | $-184,153,330 | $-567,081,607 | $-73,700,850 | $138,905,355 |
| Provisionand Write Offof Assets | $161,232,959 | $16,795,100 | $117,368,110 | $85,556,215 |
| Asset Impairment Charge | $41,493,776 | $16,399,921 | $19,166,173 | $14,819,206 |
| Deferred Tax | $111,242,838 | $341,039,322 | $-163,011,263 | $-461,173,683 |
| Deferred Income Tax | $111,242,838 | $341,039,322 | $-163,011,263 | $-461,173,683 |
| Depreciation Amortization Depletion | $302,904,566 | $271,883,028 | $251,728,908 | $233,550,683 |
| Depreciation And Amortization | $302,904,566 | $271,883,028 | $251,728,908 | $233,550,683 |
| Pension And Employee Benefit Expense | $-148,192,058 | $96,423,632 | $120,727,130 | $131,594,547 |
| Earnings Losses From Equity Investments | $-39,715,471 | $-44,260,028 | $-85,358,625 | $-166,567,873 |
| Net Foreign Currency Exchange Gain Loss | $395,179 | $91,681,486 | $-54,732,267 | $-66,785,221 |
| Gain Loss On Sale Of PPE | $-5,730,093 | $-8,496,345 | $0 | $0 |
| Net Income From Continuing Operations | $967,990,520 | $1,406,639,010 | $1,139,498,127 | $808,931,045 |
| Unrealized Gain Loss On Investment Securities | - | $0 | $0 | $33,985,379 |
| Gain Loss On Investment Securities | - | $-29,045,643 | $34,973,326 | $86,544,162 |
Fetched: 2026-06-17