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This stock no longer trades (delisted December 26, 2025)

Delisted / no longer publicly traded (per market data provider) Everything below is based on the last available data — treat it as historical, not a live read.

Stock

Companhia Paranaense de Energia - COPEL

ELP
52
Diversified Utilities · Utilities
Price
$9.27
-0.62 (-6.27%)
Market Cap
$27.53B
Exchange
New York Stock Exchange
Winston Score
52
Historical score — this stock no longer trades, so the score is frozen at the last available data.
Data as of Oct 18, 2026 · filings through Sep 30, 2025

§How the score breaks down

Quality
Good
15/30
Growth
Mixed
6/20
Cash Flow
Good
6/10
Stability
Good
6/10
Valuation
Good
6/10
Ownership
Good
10/15
Dividends
Good
3/5

52 of 100 counted points = Winston Score 52.

Share count rising — dilution

+9.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 684.1M (2020) → 745.7M (2024)

§Winston Score History

The full picture

Companhia Paranaense de Energia, known as COPEL, is a Brazilian electric utility based in the state of Paraná. It generates, transmits, distributes, and sells electricity to millions of residential, commercial, and industrial customers. COPEL is one of the largest integrated power companies in Brazil, with a generation mix that leans heavily on hydroelectric and wind power.

The company earns revenue primarily through regulated electricity distribution tariffs and power sales from its generation assets. It operates mainly in southern Brazil, with a market capitalization around $27.5 billion. COPEL's position as the dominant utility in Paraná gives it a strong regional moat backed by long-term concession agreements. The company recently completed its privatization, transitioning from state control, which could improve operational efficiency but also introduces execution risk as it adapts to a more market-driven governance structure.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+18.8% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-52.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

R$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

38.1%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

R$7.6B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Companhia Paranaense de Energia - COPEL is a rare growth stock that's already generating positive cash flow while growing at 19%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
18.7%
Thin — 18.7% gross margin
Profit after running costs
Operating Margin
15.2%
Healthy — 15.2% operating margin
Return on the money invested
ROCE
16.6%
Strong — 16.6% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
+12.4%
Fast-growing sales (+12.4% YoY)
Profit growth
EPS YoY
-5.2%
Earnings shrinking (-5.2% YoY)

Slight earnings drop. Typical near a cyclical low.

How steady the profit is
EPS Consistency
3/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
148%
Turns 148% of profit into real cash
Spare cash per sale
FCF Margin
-4.0%
Burning cash (-4.0%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
0.82
Moderate — manageable debt (0.82)
Covers its interest
Interest Cover
4.29x
Adequate interest coverage (4.3x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
37.9x
Pricey — P/E 37.9

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year
P/E vs Forward
+27.0
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (37.9 → 10.9)

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Dividends

Dividend
Dividend Yield
6.70%
Healthy income — 6.70% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record
Dividend Growth
-15.8%
Dividend cut (-15.8% YoY) — warning sign
Payout Ratio
131%
no trend
Paying out more than the last 12 months of profit. The dividend is being funded from cash or borrowing, not this year’s earnings.

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