Companhia de Eletricidade do Estado da Bahia – Coelba (BSP:CEEB3) Operating Margin %: 28.47% (As of Mar. 2026) — 42% Above Median


BSP:CEEB3 Companhia de Eletricidade do Estado da Bahia – Coelba BSP:CEEB3
76 GF Score
Price R$45.11
GF Value R$46.32
Valuation Fairly Valued
! 6 Warning Signs
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What is Companhia de Eletricidade do Estado da Bahia – Coelba Operating Margin %?

Companhia de Eletricidade do Estado da Bahia – Coelba BSP:CEEB3 +0.13% 76 Operating Margin % is 28.47% as of Mar. 2026, which is 42% above its 10-year median of 19.98. GuruFocus rates BSP:CEEB3 with a GF Score™ of 76/100 and a GF Value™ of R$46.32 (Fairly Valued). The stock has 6 warning signs investors should review. Among 499 Utilities - Regulated companies, Companhia de Eletricidade do Estado da Bahia – Coelba ranks better than 83.77% on this metric.

Operating Margin % is calculated as Operating Income divided by its Revenue. Companhia de Eletricidade do Estado da Bahia – Coelba's Operating Income for the three months ended in Mar. 2026 was R$1,195 Mil. Companhia de Eletricidade do Estado da Bahia – Coelba's Revenue for the three months ended in Mar. 2026 was R$4,198 Mil. Therefore, Companhia de Eletricidade do Estado da Bahia – Coelba's Operating Margin % for the quarter that ended in Mar. 2026 was 28.47%.

Good Sign:

Companhia de Eletricidade do Estado da Bahia – Coelba operating margin is expanding. Margin expansion is usually a good sign.

The historical rank and industry rank for Companhia de Eletricidade do Estado da Bahia – Coelba's Operating Margin % or its related term are showing as below:

BSP:CEEB3' s Operating Margin % Range Over the Past 10 Years
Min: 8.46   Med: 19.98   Max: 28.46
Current: 28.46


BSP:CEEB3's Operating Margin % is ranked better than
83.77% of 499 companies
in the Utilities - Regulated industry
Industry Median: 14.97 vs BSP:CEEB3: 28.46

Companhia de Eletricidade do Estado da Bahia – Coelba's 5-Year Average Operating Margin % Growth Rate was 8.50% per year.

Companhia de Eletricidade do Estado da Bahia – Coelba's Operating Income for the three months ended in Mar. 2026 was R$1,195 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was R$4,305 Mil.


Companhia de Eletricidade do Estado da Bahia – Coelba  (BSP:CEEB3) Operating Margin % Explanation

Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.


Be Aware

Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia’s Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Companhia de Eletricidade do Estado da Bahia – Coelba Operating Margin % Related Terms


Companhia de Eletricidade do Estado da Bahia – Coelba Operating Margin % Historical Data

* Premium members only.

The historical data trend for Companhia de Eletricidade do Estado da Bahia – Coelba's Operating Margin % can be seen below:

* 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.

Companhia de Eletricidade do Estado da Bahia – Coelba Operating Margin % Chart

Companhia de Eletricidade do Estado da Bahia – Coelba Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Margin %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 22.15 26.78 28.34 27.71 27.28

Companhia de Eletricidade do Estado da Bahia – Coelba Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Margin % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 31.65 26.60 19.31 50.53 28.47

BSP:CEEB3 vs NEE, SO, DUK: Operating Margin % Comparison

For the Utilities - Regulated Electric subindustry, Companhia de Eletricidade do Estado da Bahia – Coelba's Operating Margin %, along with its competitors' market caps and Operating Margin % 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.


Companhia de Eletricidade do Estado da Bahia – Coelba Operating Margin % vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Companhia de Eletricidade do Estado da Bahia – Coelba's Operating Margin % distribution charts can be found below:

* The bar in red indicates where Companhia de Eletricidade do Estado da Bahia – Coelba's Operating Margin % falls into.


BSP:CEEB3
76GF Score
Companhia de Eletricidade do Estado da Bahia – Coelba BSP:CEEB3
Operating Margin % is just one metric. See GF Score™, valuation, warning signs, and more.
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Companhia de Eletricidade do Estado da Bahia – Coelba Operating Margin % Calculation

Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.

Companhia de Eletricidade do Estado da Bahia – Coelba's Operating Margin % for the fiscal year that ended in Dec. 2025 is calculated as

Operating Margin %=Operating Income (A: Dec. 2025 ) / Revenue (A: Dec. 2025 )
=4303 / 15772
=27.28 %

Companhia de Eletricidade do Estado da Bahia – Coelba's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as

Operating Margin %=Operating Income (Q: Mar. 2026 ) / Revenue (Q: Mar. 2026 )
=1195 / 4198
=28.47 %

* 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.

Frequently Asked Questions Learn more about Operating Margin % →
What does a Operating Margin % of 28.47% mean?
Companhia de Eletricidade do Estado da Bahia – Coelba (BSP:CEEB3) has a Operating Margin % of 28.47% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Companhia de Eletricidade do Estado da Bahia – Coelba and its competitors. This is 42% above median its historical median of 19.98. Over the past decade, Companhia de Eletricidade do Estado da Bahia – Coelba's Operating Margin % has ranged from 8.46 to 28.46. According to the industry distribution chart, Companhia de Eletricidade do Estado da Bahia – Coelba ranks #81 out of 499 companies in the Utilities - Regulated industry, placing it in the top 16.2%.
Is Companhia de Eletricidade do Estado da Bahia – Coelba's Operating Margin % too high?
Companhia de Eletricidade do Estado da Bahia – Coelba's current Operating Margin % of 28.47% is 42% above median its 10-year median of 19.98. Over the past 10 years, this metric has ranged from a low of 8.46 to a high of 28.46. The Utilities - Regulated industry median Operating Margin % is 14.97. Companhia de Eletricidade do Estado da Bahia – Coelba's value of 28.47% is 90.2% above this industry median. Based on the distribution chart, Companhia de Eletricidade do Estado da Bahia – Coelba ranks #81 out of 499 companies in the Utilities - Regulated industry, which is in the top quartile — a strong position relative to peers. Overall, Companhia de Eletricidade do Estado da Bahia – Coelba has a GF Score™ of 76/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Companhia de Eletricidade do Estado da Bahia – Coelba's Operating Margin % compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, Companhia de Eletricidade do Estado da Bahia – Coelba ranks #81 out of 499 companies for Operating Margin %. This places Companhia de Eletricidade do Estado da Bahia – Coelba in the top 16% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 14.97. Companhia de Eletricidade do Estado da Bahia – Coelba's value of 28.47% is 90.2% above this benchmark. Historically, Companhia de Eletricidade do Estado da Bahia – Coelba's own Operating Margin % has ranged from 8.46 to 28.46 over the past decade. While the company's 10-year median is 19.98 vs. the industry median of 14.97, Companhia de Eletricidade do Estado da Bahia – Coelba has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Margin % for an Utilities - Regulated company?
The median Operating Margin % among Utilities - Regulated companies is 14.97, based on 499 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Companhia de Eletricidade do Estado da Bahia – Coelba's current Operating Margin % of 28.47% is 90.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on Companhia de Eletricidade do Estado da Bahia – Coelba and its competitors. For the Utilities - Regulated industry, the median Operating Margin % is 14.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Companhia de Eletricidade do Estado da Bahia – Coelba's current Operating Margin % is 28.47%, which is 42% above median its own 10-year median of 19.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Companhia de Eletricidade do Estado da Bahia – Coelba stock overvalued right now?
Based on GuruFocus' analysis, Companhia de Eletricidade do Estado da Bahia – Coelba (BSP:CEEB3) is currently considered Fairly Valued. The stock's GF Value™ is R$46.32, compared to a current price of R$45.11 — trading 2.6% below its estimated fair value. The current Operating Margin % is 28.47%, which is 42% above median its 10-year median of 19.98 and 90.2% above the Utilities - Regulated industry median of 14.97. Companhia de Eletricidade do Estado da Bahia – Coelba's overall GF Score™ is 76/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For Companhia de Eletricidade do Estado da Bahia – Coelba (BSP:CEEB3), the current Operating Margin % is 28.47% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Companhia de Eletricidade do Estado da Bahia – Coelba (BSP:CEEB3) Overvalued in 2026?

Based on GuruFocus' analysis, Companhia de Eletricidade do Estado da Bahia – Coelba stock appears to be undervalued. The current stock price of R$45.11 is trading 2.6% below its estimated GF Value™ of R$46.32. GuruFocus considers Companhia de Eletricidade do Estado da Bahia – Coelba to be Fairly Valued.

Key valuation signals for BSP:CEEB3:

  • Operating Margin %: 28.47% (42% above median its 10-year median of 19.98)
  • GF Value™: R$46.32 vs. price of R$45.11 (2.6% below fair value)
  • GF Score™: 76/100 with 6 warning signs
  • Industry Position: 90.2% above the Utilities - Regulated median (#81 of 499)

No single metric tells the full story. See the BSP:CEEB3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Companhia de Eletricidade do Estado da Bahia – Coelba Business Description

Other Exchanges CEEB5:Brazil
Address Av Edgar Santos 300, Bloco A/1 Andar, Salvador, BA, BRA, 41186900
Companhia de Eletricidade do Estado da Bahia - Coelba is a Neoenergia group that distributes electricity.
76GF Score

Get the complete analysis for BSP:CEEB3

Operating Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R$45.11
Price
R$46.32
GF Value