What is Cia Energetica DE Minas Gerais - Cemig Financial Strength?
Cia Energetica DE Minas Gerais - Cemig has the Financial Strength Rank of 6.
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:
1. The debt burden that the company has as measured by its
Interest Coverage (current year). The higher, the better.
2. Debt to revenue ratio. The lower, the better.
3.
Altman Z-Score.
Cia Energetica DE Minas Gerais - Cemig's Interest Coverage for the quarter that ended in Sep. 2023 was 5.60.
Cia Energetica DE Minas Gerais - Cemig's debt to revenue ratio for the quarter that ended in Sep. 2023 was 0.33.
As of today, Cia Energetica DE Minas Gerais - Cemig's Altman Z-Score is 1.85.
Competitive Comparison of Cia Energetica DE Minas Gerais - Cemig's Financial Strength
For the Utilities - Diversified subindustry, Cia Energetica DE Minas Gerais - Cemig's Financial Strength, along with its competitors' market caps and Financial Strength data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Cia Energetica DE Minas Gerais - Cemig's Financial Strength Distribution in the Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Cia Energetica DE Minas Gerais - Cemig's Financial Strength distribution charts can be found below:
* The bar in red indicates where Cia Energetica DE Minas Gerais - Cemig's Financial Strength falls into.
Cia Energetica DE Minas Gerais - Cemig Financial Strength Calculation
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors
A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.
1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:
Cia Energetica DE Minas Gerais - Cemig's Interest Expense for the
months ended in Sep. 2023 was $-57 Mil. Its Operating Income for the
months ended in Sep. 2023 was $319 Mil. And its Long-Term Debt & Capital Lease Obligation for the quarter that ended in Sep. 2023 was $2,283 Mil.
Cia Energetica DE Minas Gerais - Cemig's Interest Coverage for the quarter that ended in Sep. 2023 is
The higher the ratio, the stronger the company's financial strength is.
2. Debt to revenue ratio. The lower, the better.
Cia Energetica DE Minas Gerais - Cemig's Debt to Revenue Ratio for the quarter that ended in Sep. 2023 is
3. Altman Z-Score.
Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
The zones of discrimination were as such:
When Z-Score is less than 1.81, it is in Distress Zones.
When Z-Score is greater than 2.99, it is in Safe Zones.
When Z-Score is between 1.81 and 2.99, it is in Grey Zones.
Cia Energetica DE Minas Gerais - Cemig has a Z-score of 1.85, indicating it is in Grey Zones. This implies that Cia Energetica DE Minas Gerais - Cemig is in some kind of financial stress. If it is below 1.81, the company may faces bankrupcy risk.
Warning Sign:
Altman Z-score of 1.85 is in the grey area. This implies that the company is under some kind of financial stress. If it is below 1.8, the company may face bankruptcy risk.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Cia Energetica DE Minas Gerais - Cemig (Cia Energetica DE Minas Gerais - Cemig) Business Description
Traded in Other Exchanges
Address
Avenida Barbacena, 1200, Belo Horizonte, MG, BRA, 30190-131
Cia Energetica DE Minas Gerais - Cemig Formerly Energy Company of Minas Gerais is a Brazilian power company that generates, transmits, and distributes electricity. As one of the largest power companies in Brazil, the firm operates across most Brazilian states and Chile. The company has various subsidiaries and operates chiefly through its generation, transmission, distribution, and gas segments. The majority of the company's revenue is derived from electricity sales to consumers. The company generates power primarily through hydroelectric resources and secondarily through thermal and wind resources.
Cia Energetica DE Minas Gerais - Cemig (Cia Energetica DE Minas Gerais - Cemig) Headlines
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