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:Reiterated
Date: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 improvement (2025)
Central Puerto posted a meaningful recovery in top‑line and operating profitability in 2025, with revenue and adjusted EBITDA both rising ~17% y/y. This indicates stronger market pricing and better operating leverage, supporting durable earnings capacity if dispatch and hydrology normalize.
Negative Factors
Erratic operating and free cash flow
Cash generation has been highly volatile across recent years, with weak cash conversion in 2023–2024 despite reported earnings. Persistent working‑capital swings and uneven OCF/FCF reduce reliability of internally funded growth, increasing reliance on external financing and raising execution risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & EBITDA improvement (2025)
Central Puerto posted a meaningful recovery in top‑line and operating profitability in 2025, with revenue and adjusted EBITDA both rising ~17% y/y. This indicates stronger market pricing and better operating leverage, supporting durable earnings capacity if dispatch and hydrology normalize.
Read all positive factors
Central Puerto SA (CEPU) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.25B
Dividend Yield2%
Average Volume (3M)359.79K
Price to Earnings (P/E)2.0
Beta (1Y)0.71
Revenue Growth13.93%
EPS Growth231.87%
CountryUS
Employees865
SectorUtilities
Sector Strength65
IndustryRegulated Electric
Share Statistics
EPS (TTM)2210.50
Shares Outstanding150,237,840
10 Day Avg. Volume346,921
30 Day Avg. Volume359,790
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 Cap1.70K
Enterprise Value/Revenue3.57
Enterprise Value/Gross Profit9.99
Enterprise Value/Ebitda6.41
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:May 18, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 10, 2026
Earnings Call Sentiment Positive
The call conveyed a broadly positive operational and commercial inflection: strong revenue and EBITDA growth (QoQ and YoY), a large rebound in generation, market-share leadership in the new contracting segments, a landmark concession renewal and strategic M&A that expands optionality. These positives are tempered by a capital-intensive quarter (notably the Piedra del Aguila payment), remaining gas transport and fuel supply constraints that increase winter risk, continued reliance on spot volumes while contracting migrates gradually, and execution/timing uncertainty around the Vaca Muerta opportunity. On balance the company showed material progress and momentum but faces identifiable execution and market risks in the near term.Positive Updates
Adjusted EBITDA Strong Growth
Adjusted EBITDA reached $120.0 million in 1Q'26, up 41.6% quarter-on-quarter (from $84.7M in 4Q'25) and up ~33.4% year-on-year (from $89.9M in 1Q'25), driven by new generation assets, commercial contracting gains and market normalization under Resolution 400/25.
Negative Updates
Capital-Intensive Quarter and Cash Outflow
Quarterly capital expenditures were large (~$311.0M), including ~$245.0M for the Piedra del Aguila concession transfer, increasing near-term cash intensity and affecting liquidity deployment.
Read all updates
Q1-2026 Updates
Positive
Negative
Adjusted EBITDA Strong Growth
Adjusted EBITDA reached $120.0 million in 1Q'26, up 41.6% quarter-on-quarter (from $84.7M in 4Q'25) and up ~33.4% year-on-year (from $89.9M in 1Q'25), driven by new generation assets, commercial contracting gains and market normalization under Resolution 400/25.
Read all positive updates
Company Guidance
The company’s guidance is constructive: management expects continued operational excellence and financial improvement through 2026 driven by market normalization and stronger contracting, with 1Q26 momentum (USD 120.0m adjusted EBITDA, USD 248.6m revenues, 5,420 GWh generation) to continue; they expect additional PPA wins (private sales: 20% fully contracted today, 44% of 1Q revenues were contracted; thermal PPAs typically 1–2 years, renewables 3–5 years) and anticipate closing DisCo PPAs this year. BESS projects are on track for mid‑2027 commercial availability (60% site works complete, 32 concrete pads, Phase 1 of the 132 kV yard done), and the company aims to secure more firm gas capacity (requested ~1.6m m3 in the TGS auction, received ~400k m3) and to start direct gas purchases within ~2–3 months to complement Plan Gas; winter firm capacity needs are estimated at ~1.6–2.0m m3. Balance‑sheet guidance is prudent: current net financial debt ~$390m (total debt ~$539.2m, cash ~$148.4m, FONINVEMEM ~$105.8m) vs LTM adj. EBITDA $367.2m (net leverage 1.06x) and management does not expect to target very high gross leverage (e.g., ~2.5x), while remaining open to M&A and CAMMESA auction opportunities (including planned 700 MW national BESS auction and possible capacity auctions in H2).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
15.19
Negative
15.63
Negative
13.93
Positive
Market Momentum
-0.34
Positive
42.74
Neutral
28.29
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 above the 20-day moving average (MA) of 14.31, above the 50-day MA of 15.19, and above the 200-day MA of 13.93, indicating a neutral trend. The MACD of -0.34 indicates Positive momentum. The RSI at 42.74 is Neutral, neither overbought nor oversold. The STOCH value of 28.29 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 |
|---|---|---|---|---|---|---|---|
71 Outperform | $5.91B | 8.41 | 0.04% | 5.63% | 8.85% | 191.04% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
62 Neutral | $1.17B | 7.88 | 11.90% | ― | 13.04% | -31.49% | |
61 Neutral | $2.25B | 1.99 | 28.37% | 2.00% | 13.93% | 231.87% | |
58 Neutral | $359.04M | 33.15 | 7.64% | 2.16% | 14.67% | 12.34% |
* Utilities Sector Average
CEPU
Central Puerto SA
13.96
0.62
4.65%
EDN
Edenor SA
24.35
-11.48
-32.04%
GNE
Genie Energy Commo
13.60
-5.41
-28.44%
ENIC
Enel Chile SA
4.33
0.80
22.63%
Central Puerto SA Corporate Events
Central Puerto Files 2025 Form 20-F, Underscoring Transparency and Market Presence
May 5, 2026
Central Puerto S.A., one of Argentina’s largest private power generators with a diversified mix of thermal, hydro, wind and solar assets, reaffirmed its role as a key player in the country’s energy sector and a dual-listed issuer in Ne...
Central Puerto Reshapes Board Leadership and Audit Committee in April 2026
Apr 30, 2026
On April 30, 2026, Central Puerto S.A. announced that its board of directors, at a meeting held that day, reshuffled its top leadership by appointing Osvaldo Arturo Reca as chairman and Miguel Dodero as vice chairman. The board also refreshed its ...
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...
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.