Energisa S.A. (ENGI3.SA)

Energisa S.A. (ENGI3.SA) — VMCI valuation read

Energisa S.A. (ENGI3.SA) carries a VMCI composite of 53/100, 3 points above the Utilities sector median of 50. Among mid-cap names, that gap places ENGI3.SA in the top third on the five-pillar weighting (Value 35%, Quality 30%, Integrity 15%, Growth 12%, Risk 8%).

The ENGI3.SA insider tape has been silent for the past 30 days on Form 4. Where executives neither buy nor sell, the bull and bear cases lean harder on filings cadence and the next earnings line.

**Investor frame.** Value reads ENGI3.SA trades at 22.0x earnings, 22% above the Utilities median of 18.0x, which compresses or extends through the 11.0x EV/EBITDA versus a Utilities 12.0x. Quality: ROIC of 18.0% sits 8.0pp above the Utilities median (10.0%). Risk: net debt to EBITDA of 0.2x leaves covenant headroom, the line to track on Energisa S.A.'s next 10-Q.

ENGI3.SA fell 3.8% over the trailing 7 days, with a +3.6% read on a 30-day basis.