Companhia Distribuidora de Gás do Rio de Janeiro - CEG (CEGR3.SA)

Companhia Distribuidora de Gás do Rio de Janeiro - CEG (CEGR3.SA) — VMCI valuation read

CEGR3.SA screens at VMCI 52/100, a 2-point gap above the Utilities sector median (50). For a mid-cap Companhia Distribuidora de Gás do Rio de Janeiro - CEG share, that placement says the multi-pillar composite is cheaper or higher quality than the typical peer on a like-for-like basis.

CEGR3.SA has logged no Form 4 insider activity over the trailing 30 days. The tape reads neither bullish nor bearish on insider conviction. The next signal sits with the 10-Q schedule and the analyst calendar.

**Investor frame.** Value: CEGR3.SA trades at 20.0x earnings, 11% above the Utilities median of 18.0x, while EV/EBITDA prints 9.0x against 12.0x for the Utilities group. Quality: ROIC of 8.0% trails the Utilities median (10.0%) by 2.0pp, the cleanest like-for-like comparison on capital efficiency. Risk: net debt to EBITDA of 0.0x leaves covenant headroom, which sets the rate-cycle exposure for Companhia Distribuidora de Gás do Rio de Janeiro - CEG.

CEGR3.SA rose 3.2% over the trailing 7 days, with a +7.4% read on a 30-day basis.