Neoenergia Overview
About Neoenergia
Neoenergia SA is principally dedicated to the activities of distribution, transmission, generation, and commercialization of electricity. The main activities of the operating segments are as follows: (i) Networks - comprising business lines related to concessions for electricity distribution and transmission services; (ii) Renewables - comprising activities related to concessions for electricity generation services from renewable natural sources, such as wind farms, solar farms and hydroelectric plants; (iii) Liberalized - comprising electricity generation activities from thermal power plants and energy trading activities; and (iv) Other - including corporate and operational support activities. The company generates the majority of its revenue from Networks segment.
Founded
1997
HQ
Website
Status
Acquired
Customer focus
B2C & B2B
Revenue model
Usage-based
Valuation
$1.1B (acquired Apr 2026)
Sectors
Neoenergia Acquisition
Neoenergia was acquired by Iberdrola for $1.1B on 8 April 2026.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 8 Apr 2026 | Strategic M&A | $1.1B |
Neoenergia as a Public Company
Neoenergia traded as MAD: XNEO before it was taken private. Its acquisition was announced in April 2026. June 2026 is its last month on record as a listed company, with a market cap of $7.9B and an enterprise value of $18B.
Over the 4 years before that, its market cap grew from $3.5B in June 2022 to $7.9B.
Neoenergia market cap while listed
Neoenergia EV/Revenue (LTM) while listed
| As of | Market cap | Revenue (LTM) | EBITDA (LTM) | EBITDA margin | EV/Revenue | EV/EBITDA |
|---|---|---|---|---|---|---|
| Jun 2026 | $7.9B | - | - | - | - | - |
| Jun 2025 | $5.7B | $7.9B | $2.1B | 27% | 1.8x | 6.7x |
| Jun 2024 | $4.1B | $8.2B | $2.1B | 26% | 1.5x | 5.6x |
| Jun 2023 | $5.3B | $8B | $2.1B | 27% | 1.6x | 5.8x |
| Jun 2022 | $3.5B | $7.8B | $1.9B | 24% | 1.2x | 5.2x |
Market cap, enterprise value and last-twelve-month figures are month-end values, up to the last month Neoenergia traded.
Neoenergia Competitors
Neoenergia competitors include listed companies like Energisa Mato Grosso, Naturenergie, Hunan Energy Group and Copperbelt Energy, and private ones like Rabigh Arabian Water & Electricity Company and EGPE Solar.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $1.5B | $378M | $1.2B | - | ||
| Publicly listed | $1.7B | $317M | $1.2B | - | ||
| Publicly listed | $52M | $25M | $1.2B | - | ||
| Publicly listed | - | - | $1.2B | - | ||
| Private | $311M | - | $1.3B | 4.0x | ||
| Private | - | - | $2B | - |
Neoenergia Public Comps
Neoenergia is no longer listed, but its public comps include TotalEnergies EP Gabon, First Gen, Middlesex Water, Energisa Mato Grosso, Arendals Fossekompani, Naturenergie, Celesc, Aygaz, North Atlantic Energies and Mahanagar Gas.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $418M | $210M | 1.7x | - | 3.4x | - | |||
| $828M | $584M | 3.5x | 2.6x | 5.0x | 5.0x | |||
| $195M | $94M | 8.1x | 7.4x | 16.8x | 17.0x | |||
| $1.5B | $378M | 1.8x | - | 7.0x | - | |||
| $396M | $33M | 2.9x | 42.7x | 35.1x | 102.7x | |||
| $1.7B | $317M | 0.7x | - | 3.8x | 5.1x | |||
| $2B | $291M | 1.0x | - | 6.9x | - | |||
| $1.8B | $116M | 0.6x | 0.5x | 9.3x | 12.5x | |||
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Common questions about Neoenergia
| When was Neoenergia founded? | Neoenergia was founded in 1997. |
| Where is Neoenergia headquartered? | Neoenergia is headquartered in Brazil. |
| Is Neoenergia publicly listed? | No, Neoenergia was acquired by Iberdrola in April 2026. |
| Who acquired Neoenergia? | Neoenergia was acquired by Iberdrola in April 2026. |
| How much was Neoenergia acquired for? | Neoenergia was acquired for $1.1B in April 2026. |
| Which companies are comparable to Neoenergia? | Companies comparable to Neoenergia include Energisa Mato Grosso, Naturenergie, Hunan Energy Group, Copperbelt Energy, Rabigh Arabian Water & Electricity Company and EGPE Solar. |
| What was Neoenergia's market cap before the acquisition? | Neoenergia had a market cap of $7.9B in June 2026, its last month on record as a listed company. |
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