Centrais Elétricas Brasileiras S.A. - Eletrobrás (ELET6.SA)

Centrais Elétricas Brasileiras S.A. - Eletrobrás (ELET6.SA) — VMCI valuation read

Centrais Elétricas Brasileiras S.A. - Eletrobrás sits at VMCI 55/100, with the Utilities sector median at 50. That 5-point spread is the first thing to note on ELET6.SA: it tells the reader the composite is favorable before any single ratio is examined, and the mid-cap tier sets the comparison set.

Form 4 disclosures on ELET6.SA are blank for the trailing 30 days. With the insider channel offline, the EV/EBITDA delta, free-cash-flow trajectory, and the next earnings print do the talking.

**Investor frame.** The Value read on ELET6.SA: ELET6.SA trades at 20.0x earnings, 11% above the Utilities median of 18.0x, with EV/EBITDA at 13.0x against 12.0x. The Quality read: ROIC of 12.0% sits 2.0pp above the Utilities median (10.0%). The Risk read: net debt to EBITDA of 1.2x leaves covenant headroom, anchoring the bear scenario on a measurable balance-sheet metric.

ELET6.SA fell 2.1% over the trailing 7 days, with a -5.6% read on a 30-day basis.