Companhia Paranaense de Energia - COPEL
NYSE: ELPC · UTILITIES · UTILITIES - REGULATED ELECTRIC
Updated 2026-06-05
Companhia Paranaense de Energia - COPEL (ELPC) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.68B | $5.20B | $5.46B | $6.25B | $6.90B | $7.78B | $8.49B | $9.18B | $14.00B | $14.95B | $13.10B | $14.02B | $14.55B | $15.87B | $18.63B | $-13.33B | $20.54B | $21.48B | $22.65B | $22.65B |
| Revenue growth (YoY) | — | +11.2% | +4.9% | +14.5% | +10.4% | +12.7% | +9.2% | +8.1% | +52.5% | +6.8% | -12.3% | +7.0% | +3.7% | +9.1% | +17.4% | -171.5% | +254.1% | +4.6% | +5.5% | +0.0% |
| Cost of revenue | $2.79B | $2.92B | $3.47B | $4.63B | $4.98B | $5.46B | $6.54B | $7.15B | $11.29B | $11.80B | $10.23B | $10.67B | $11.37B | $11.46B | $13.35B | $16.71B | $15.61B | $16.58B | $17.76B | $17.76B |
| Gross profit | $1.89B | $2.28B | $1.99B | $1.62B | $1.92B | $2.32B | $1.95B | $2.03B | $2.71B | $3.15B | $2.87B | $3.36B | $3.18B | $4.41B | $5.29B | $-30.03B | $4.93B | $4.90B | $658.55M | $4.89B |
| Gross margin | 40.5% | 43.9% | 36.4% | 25.9% | 27.9% | 29.8% | 23.0% | 22.1% | 19.3% | 21.1% | 21.9% | 23.9% | 21.8% | 27.8% | 28.4% | 225.4% | 24.0% | 22.8% | 2.9% | 21.6% |
| R&D | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| SG&A | $342.32M | $298.83M | $234.59M | $434.69M | $326.01M | $428.27M | $501.74M | $479.00M | $513.49M | $602.05M | $710.86M | $653.61M | $702.48M | $668.10M | $809.41M | $870.86M | $733.70M | $1.02B | $782.15M | $734.15M |
| Operating income | $1.55B | $1.95B | $1.69B | $1.13B | $900.46M | $1.26B | $969.66M | $1.23B | $1.62B | $1.99B | $1.78B | $1.39B | $1.96B | $2.70B | $4.89B | $2.91B | $1.28B | $3.19B | $657.16M | $3.60B |
| Operating margin | 33.1% | 37.5% | 31.0% | 18.1% | 13.0% | 16.2% | 11.4% | 13.4% | 11.5% | 13.3% | 13.6% | 9.9% | 13.4% | 17.0% | 26.3% | -21.9% | 6.2% | 14.8% | 2.9% | 15.9% |
| EBITDA | $2.63B | $2.40B | $2.35B | $1.93B | $1.94B | $2.15B | $1.54B | $2.12B | $2.53B | $2.40B | $2.15B | $2.21B | $2.59B | $3.83B | $6.14B | $5.64B | $2.27B | $3.96B | $4.45B | $4.45B |
| EBITDA margin | 56.1% | 46.2% | 43.1% | 31.0% | 28.1% | 27.7% | 18.1% | 23.1% | 18.1% | 16.1% | 16.4% | 15.8% | 17.8% | 24.1% | 33.0% | -42.3% | 11.0% | 18.4% | 19.6% | 19.6% |
| EBIT | $2.25B | $1.97B | $1.95B | $1.39B | $1.40B | $1.60B | $987.27M | $1.52B | $1.90B | $1.73B | $1.44B | $1.48B | $1.89B | $2.88B | $5.13B | $4.62B | $1.03B | $2.58B | $2.98B | $2.98B |
| Interest expense | $434.51M | $375.77M | $394.26M | $330.66M | $19.29M | $16.97M | $14.74M | $15.22M | $171.17M | $34.06M | $47.02M | $85.56M | $51.24M | $245.66M | $131.30M | $41.91M | $91.36M | $741.16M | $76.40M | $76.40M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $1.24B | $1.11B | $1.08B | $791.78M | $987.81M | $1.16B | $700.69M | $1.07B | $1.21B | $1.11B | $895.77M | $1.03B | $1.41B | $1.99B | $3.90B | $4.95B | $1.11B | $2.26B | $454.29M | $2.81B |
| Net income growth (YoY) | — | -10.9% | -2.5% | -26.6% | +24.8% | +17.2% | -39.5% | +53.1% | +12.4% | -8.0% | -19.3% | +15.4% | +36.1% | +41.4% | +96.2% | +26.9% | -77.5% | +103.1% | -79.9% | +518.5% |
| Profit margin | 26.5% | 21.3% | 19.8% | 12.7% | 14.3% | 14.9% | 8.2% | 11.7% | 8.6% | 7.4% | 6.8% | 7.4% | 9.7% | 12.5% | 21.0% | -37.2% | 5.4% | 10.5% | 2.0% | 12.4% |
Frequently asked questions
What is Companhia Paranaense de Energia - COPEL's revenue?
Companhia Paranaense de Energia - COPEL's trailing twelve-month revenue is $27.29B. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is ELPC?
In its most recent fiscal year, ELPC ran a gross margin of 21.59%, an operating margin of 15.91%, and a net margin of 12.40%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does ELPC generate?
ELPC produced $603.96M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is ELPC's balance sheet healthy?
ELPC holds $4.16B in cash and equivalents against $17.95B in long-term debt, on $25.67B of shareholder equity. That debt is best read against the cash flow the business throws off each year.