Central Puerto (CEPU)
NYSE:CEPU
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Central Puerto SA
(NYSE:CEPU)
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Rating:61Neutral
Price Target:
$15.00
▼(-3.54% Downside)
Action:ReiteratedDate:04/01/26
The score is driven primarily by improved 2025 profitability and a reasonable balance sheet, but is held back by historically erratic cash generation. Technicals are mildly supportive (price above key averages) but lack strong momentum confirmation, while valuation is a clear headwind due to the high P/E and no dividend support. The latest earnings call adds a positive tilt from quantified 2026 EBITDA catalysts, tempered by hydrology and execution/contracting risks.
Positive Factors
Revenue & EBITDA growth
Sustained top-line and EBITDA expansion in 2025 reflects stronger pricing and commercial execution across the portfolio. Durable revenue and margin improvement increases the company's ability to fund capex and growth, improving medium‑term earnings resilience even amid commodity and volume swings.
Negative Factors
Inconsistent cash generation
Volatile operating and free cash flows reduce predictability of internal funding for capex, dividends or debt service. Even with 2025 cash recovery, the history of sharp swings in cash conversion increases execution and working‑capital risk and constrains reliable capital allocation over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & EBITDA growth
Sustained top-line and EBITDA expansion in 2025 reflects stronger pricing and commercial execution across the portfolio. Durable revenue and margin improvement increases the company's ability to fund capex and growth, improving medium‑term earnings resilience even amid commodity and volume swings.
Read all positive factors
Central Puerto SA (CEPU) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.33B
Dividend Yield2%
Average Volume (3M)408.74K
Price to Earnings (P/E)41.3
Beta (1Y)0.73
Revenue Growth15.14%
EPS Growth460.29%
CountryUS
Employees865
SectorUtilities
Sector Strength65
IndustryRegulated Electric
Share Statistics
EPS (TTM)0.11
Shares Outstanding150,237,840
10 Day Avg. Volume379,973
30 Day Avg. Volume408,744
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)1.50
Price to Sales (P/S)2.98
P/FCF Ratio30.56
Enterprise Value/Market Cap1.63K
Enterprise Value/Revenue3.52
Enterprise Value/Gross Profit9.87
Enterprise Value/Ebitda6.33
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.66
Revenue Forecast (FY)$1.79B
Central Puerto SA Business Overview & Revenue Model
Company Description
Central Puerto S.A. generates and sells electric power to private and public customers in Argentina. It also produces steam. As of December 31, 2021, the company owned and operated five thermal generation plants, one hydroelectric generation plant...
How the Company Makes Money
Central Puerto primarily makes money by generating electricity and selling it under Argentina’s power market framework. Key revenue streams typically include: (1) electricity sales/dispatch-based revenues from its generation units (principally the...
Central Puerto SA Earnings Call Summary
Earnings Call Date:Mar 05, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 18, 2026
Earnings Call Sentiment Positive
The call presents a positive strategic and financial trajectory: full‑year 2025 revenue and adjusted EBITDA grew ~17% year‑over‑year, the company strengthened its asset base (Piedra del Aguila concession, new combined cycle in commercial operation, solar additions), maintains low leverage (0.3x) and secured financing for growth. These positives are tempered by a meaningful 14% decline in total generation in 2025 driven by historically low hydrology and nonrecurring maintenance (notably Piedra del Aguila -38% and several combined cycles down 15–24%), which caused a quarterly revenue and EBITDA dip. Management expects material EBITDA tailwinds in 2026 (~$150–$160M) from the new plant PPA, spot regulation normalization, and renewable contributions, but contracting frictions with distribution companies, higher battery input costs, and uncertainty on hydro inflows are notable execution risks. Overall, the highlights (growth, stronger USD pricing, portfolio expansion, healthy balance sheet and clear 2026 EBITDA drivers) outweigh the lowlights (temporary production shortfalls and market/regulatory frictions).Positive Updates
Revenue Growth
Revenues for 2025 reached $782.8 million, up 17% year‑over‑year; 4Q'25 revenues were $172.8 million, +3% year‑over‑year (but -26% quarter‑on‑quarter).
Negative Updates
Decline in Total Generation
Total generation in 2025 was 18.6 TWh, down 14% year‑over‑year, primarily driven by historically low hydrology at Piedra del Aguila and nonrecurring maintenance actions.
Read all updates
Q4-2025 Updates
Positive
Negative
Revenue Growth
Revenues for 2025 reached $782.8 million, up 17% year‑over‑year; 4Q'25 revenues were $172.8 million, +3% year‑over‑year (but -26% quarter‑on‑quarter).
Read all positive updates
Company Guidance
Guidance from the call emphasized operational recovery, disciplined contracting and growth, with Central Puerto expecting a rebound in 1Q‑26 after major maintenance and targeting to cover the full 20% of legacy combined‑cycle energy sales to private customers by March; key quantified expectations included an incremental EBITDA uplift of roughly $150–160 million in steady state (Brigadier López PPA +$60M, spot market normalization +$70–80M, Piedra del Aguila concession +$15M, renewables +$8–10M), a planned addition of 205 MW of battery storage by 2027, and continued focus on BESS and new PPA opportunities. Financial and operating anchors cited were 2025 revenues of ~$782.8M (+17% y/y), 2025 adjusted EBITDA $337.2M (+17% y/y) and 4Q25 adj. EBITDA $84.7M, 2025 generation 18.6 TWh (‑14% y/y), total installed capacity 6,938 MW (+234 MW), 2025 CapEx $202.4M, thermal availability 77% and combined‑cycle availability 89%, December dollarized revenues ~97%, contractual volumes sold ~11% of total (≈900 MWh in Nov–Dec), net leverage 0.3x on annual adj. EBITDA, outstanding debt $337.8M, IFC $300M five‑year facility, and the Piedra del Aguila 30‑year concession extension (through 2055) funded with a $245M bid paid Jan‑2026; management cautioned hydro volumes remain uncertain (hydro year starts in May) and provided no dividend guidance.Central Puerto SA Financial Statement Overview
Summary
Income Statement
76
Positive
Balance Sheet
72
Positive
Cash Flow
41
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.28T | 738.17B | 682.84B | 687.58B | 346.24B |
| Gross Profit | 453.71B | 291.64B | 225.17B | 325.98B | 166.92B |
| EBITDA | 568.27B | 313.94B | 569.26B | 349.64B | 139.78B |
| Net Income | 403.52B | 49.60B | 322.39B | 129.12B | -4.50B |
Balance Sheet | |||||
| Total Assets | 3.67T | 2.66T | 3.06T | 1.19T | 391.45B |
| Cash, Cash Equivalents and Short-Term Investments | 337.73B | 244.02B | 224.97B | 158.78B | 39.20B |
| Total Debt | 492.84B | 380.79B | 729.91B | 197.52B | 82.10B |
| Total Liabilities | 1.05T | 798.95B | 1.19T | 375.52B | 144.46B |
| Stockholders Equity | 2.55T | 1.80T | 1.82T | 813.26B | 246.66B |
Cash Flow | |||||
| Free Cash Flow | 124.78B | 86.29M | 335.77M | 58.40B | 174.41M |
| Operating Cash Flow | 468.95B | 241.92M | 369.17M | 62.61B | 230.83M |
| Investing Cash Flow | -353.33B | -188.99M | -233.15M | -39.59B | -74.20M |
| Financing Cash Flow | -70.73B | -70.94M | -196.19M | -12.88B | -157.21M |
Central Puerto SA Technical Analysis
Negative
15.55
Price Trends
15.68
Negative
16.09
Negative
13.62
Positive
Market Momentum
0.03
Positive
44.68
Neutral
20.91
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CEPU, the sentiment is Negative. The current price of 15.55 is below the 20-day moving average (MA) of 15.97, below the 50-day MA of 15.68, and above the 200-day MA of 13.62, indicating a neutral trend. The MACD of 0.03 indicates Positive momentum. The RSI at 44.68 is Neutral, neither overbought nor oversold. The STOCH value of 20.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CEPU.
Central Puerto SA Risk Analysis
Central Puerto SA disclosed 69 risk factors in its most recent earnings report. Central Puerto SA reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Central Puerto SA Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
64 Neutral | $6.26B | 10.38 | 7.43% | 5.63% | 8.59% | 231.10% | |
62 Neutral | $1.22B | 6.83 | 11.90% | ― | 13.04% | -31.49% | |
61 Neutral | $2.33B | 41.27 | 14.42% | 2.00% | 15.14% | 460.29% | |
52 Neutral | $366.16M | 14.48 | 2.47% | 2.16% | 13.12% | 29.97% |
* Utilities Sector Average
CEPU
Central Puerto SA
14.31
3.36
30.68%
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24.92
-6.81
-21.46%
GNE
Genie Energy Commo
13.79
-1.01
-6.81%
ENIC
Enel Chile SA
4.50
1.10
32.47%
Central Puerto SA Corporate Events
Central Puerto to Release First-Quarter 2026 Results on May 12
Apr 28, 2026
Central Puerto S.A., Argentina’s largest private power generator, announced in Buenos Aires on April 28, 2026 that it will publish its financial results for the first quarter of 2026 on May 12, 2026. The company’s leadership will hold ...
Central Puerto to Acquire Patagonia Energy in Strategic Neuquén Basin Expansion
Apr 13, 2026
On April 12, 2026, Central Puerto S.A. announced it had signed an agreement to acquire 100% of Patagonia Energy S.A., which holds a hydrocarbon concession over the Aguada del Chivato / Aguada Bocarey block in the Neuquén Basin. The deal, stil...
Central Puerto Supervisory Committee Reports Clean 2025 Audit and Governance Review
Mar 27, 2026
Central Puerto’s Supervisory Committee, created in 2004 and composed mainly of independent directors, issued its annual report in Buenos Aires on March 5, 2026, covering its activities for the fiscal year ended December 31, 2025. During 2025...
Central Puerto Details 2026 Supervisory Committee Oversight and Integrity Plan
Mar 27, 2026
Central Puerto S.A. disclosed that its Supervisory Committee has approved and submitted an action plan for fiscal year 2026, dated March 26, 2026, outlining its oversight priorities in internal audit, external audit, financial reporting, and inter...
Central Puerto Approves 2025 Results, Sets Optional Reserve and Confirms Dispersed Control After Merger
Mar 27, 2026
On March 5, 2026, Central Puerto’s board approved the audited financial statements for the fiscal year ended December 31, 2025, formally recognizing the auditor and statutory audit committee reports. For 2025, the company reported net income...
Central Puerto Calls Remote Annual Shareholders’ Meeting for April 30, 2026
Mar 27, 2026
Central Puerto S.A. has called its Annual General Shareholders’ Meeting for April 30, 2026, to be held remotely via videoconference in line with its bylaws and local securities regulations. Shareholders must register their attendance and pro...
Central Puerto Audit Committee Clears 2025 Financial Statements and Confirms Regulatory Compliance
Mar 27, 2026
On March 5, 2026, Central Puerto’s Statutory Audit Committee met in Buenos Aires to review the company’s individual and consolidated financial statements for the fiscal year ended December 31, 2025, along with related reports and regul...
Central Puerto Board Approves 2025 Annual Report and Financial Statements
Mar 27, 2026
On March 5, 2026, Central Puerto’s board of directors met via videoconference in Buenos Aires with a full quorum of directors and statutory auditors present. During this meeting, they reviewed the statutory audit report and certifying accoun...
Central Puerto Calls Remote AGM to Decide on 2025 Earnings Allocation and Board Renewal
Mar 27, 2026
On March 5, 2026, Central Puerto S.A.’s board met via videoconference in Buenos Aires and resolved to convene its Annual General Shareholders’ Meeting for April 30, 2026, to be held remotely. The meeting will consider the 2025 financia...
Central Puerto Details Governance, Ethics and Control Framework Under Argentine CNV Rules
Mar 27, 2026
Central Puerto S.A. has detailed how its Board of Directors fulfills the governance standards required by Argentina’s securities regulator, outlining an ethics-driven corporate culture anchored in a Code of Corporate Governance first adopted...
Central Puerto Details 2024 Profit, Capital Reduction and 2025 Corporate Reorganization
Mar 27, 2026
In its annual report for the year ended December 31, 2024, Central Puerto detailed an installed renewable capacity of 568.8 MW, continued expansion in thermal generation, and completion of corporate reorganizations in 2025, including the absorptio...
Central Puerto Sets April 30 Shareholder Vote on Optional Reserve, Director Changes and Audit Mandates
Mar 19, 2026
On March 19, 2026, Central Puerto S.A. disclosed that its board will ask shareholders at the April 30, 2026 ordinary meeting to allocate accumulated unappropriated earnings and ARS 29.27 billion of excess legal reserve to an optional reserve. This...
Central Puerto Approves 2025 Results, Proposes Reserve Allocation and Confirms Dispersed Ownership
Mar 9, 2026
On March 5, 2026, Central Puerto S.A.’s board approved the company’s financial statements for the fiscal year ended December 31, 2025, and took note of the auditor and statutory audit committee reports, confirming net income of ARS 346...
Central Puerto Files Routine March 2026 Form 6-K With U.S. SEC
Mar 9, 2026
Central Puerto S.A. submitted a Form 6-K to the U.S. Securities and Exchange Commission for the month of March 2026, confirming its status as a foreign private issuer that reports under Form 20-F. The filing, dated March 6, 2026, is largely proced...
Central Puerto Sets Remote Ordinary General Meeting for April 30, 2026
Mar 9, 2026
On March 5, 2026, Central Puerto S.A. announced that its Board of Directors had resolved to convene an Ordinary General Meeting of shareholders. The meeting is scheduled to be held remotely on April 30, 2026, at 11 a.m. on first call and 12 p.m. o...
Central Puerto Extends Piedra del Águila Concession and Lifts 2025 Earnings Amid Market Reform
Mar 6, 2026
Central Puerto S.A. reported financial and operational results for the fourth quarter and full year 2025 on March 5, 2026, highlighting rising annual earnings despite weaker volumes. Adjusted EBITDA climbed 17% year-on-year to US$ 337.2 million on...
Central Puerto Sets March Dates to Report and Discuss 4Q and Full-Year 2025 Results
Feb 10, 2026
On February 10, 2026, Central Puerto S.A. announced it will publish its fourth quarter and full-year 2025 financial results on March 5, 2026. The company will host a conference call on March 6, 2026, where its executive team will present and discu...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.