UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ¨ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2024 OR 05429-900 São Paulo, SP, Brazil (Address of principal executive offices) Daniel Szlak dri@sabesp.com.br (+55 11 3388 8000) Rua Costa Carvalho, 300 05429-900 São Paulo, SP, Brazil ¨ TRANSITION REPO ...

Most of us have heard the dictum "the trend is your friend." And this is undeniably the key to success when it comes to short-term investing or trading. But it isn't easy to ensure the sustainability of a trend and profit from it.The trend often reverses before exiting the trade, leading to a short-term capital loss for investors. So, for a profitable trade, one should confirm factors such as sound fundamentals, positive earnings estimate revisions, etc. that could keep the momentum in the stock alive.Our " ...

Core Thesis - The bullish thesis for Companhia de Saneamento Básico do Estado de São Paulo (SABESP) is centered on the acceleration and universalization of its services [1] Company Insights - SABESP is positioned to benefit from the execution of its strategic initiatives aimed at enhancing service delivery and expanding access [1] - The company is actively involved in improving its operational efficiency and expanding its market reach, particularly in emerging markets [1] Market Context - The analysis emphasizes the importance of understanding global market dynamics, particularly in relation to emerging markets, which can provide unique investment opportunities [1]

While "the trend is your friend" when it comes to short-term investing or trading, timing entries into the trend is a key determinant of success. And increasing the odds of success by making sure the sustainability of a trend isn't easy.Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, ...

EARNINGS CALL 2024 SAFE HARBOR STATEMENT This presentation does not contain projections or estimates of future events. However, it may include forward-looking statements that indicate potential trends related to Sabesp, based on the reasonable expectations, beliefs, and assumptions of the Company's management. The use of expressions such as "projects," "estimates," "anticipates," "foresees," "plans," "expects," and similar terms shall not be construed as forecasts or guidance for purposes of applicable regu ...

Core Viewpoint - The article emphasizes the importance of identifying sustainable trends in short-term investing to maximize profits, highlighting the need for strong fundamentals and positive earnings revisions to maintain momentum in stock prices [1][2]. Group 1: Stock Performance - Sabesp (SBS) has shown a solid price increase of 5% over the past 12 weeks, indicating investor confidence in its potential upside [4]. - The stock has experienced a significant price increase of 16.1% over the last four weeks, suggesting that the upward trend is still intact [5]. - SBS is currently trading at 88.2% of its 52-week high-low range, indicating a potential breakout opportunity [5]. Group 2: Fundamental Strength - SBS holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, which are critical for near-term price movements [6]. - The stock has an Average Broker Recommendation of 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term performance [7]. Group 3: Investment Strategy - The "Recent Price Strength" screen is a useful tool for identifying stocks like SBS that have sufficient fundamental strength to sustain their recent uptrends [3]. - The article suggests that there are several other stocks passing through the "Recent Price Strength" screen, providing additional investment opportunities [8].

Core Insights - Zacks Premium offers various tools for investors to enhance their stock market strategies, including daily updates, research reports, and stock screens [1] - The Zacks Style Scores provide a unique rating system for stocks based on value, growth, and momentum, helping investors identify securities with high potential for market outperformance [2][3] Zacks Style Scores - The Style Scores categorize stocks into four types: Value Score, Growth Score, Momentum Score, and VGM Score, each focusing on different investment strategies [3][4][5][6] - Value Score identifies attractive stocks using financial ratios, while Growth Score assesses a company's financial health and future outlook [3][4] - Momentum Score focuses on price trends and earnings outlook, indicating favorable times for investment [5] - VGM Score combines all three styles to highlight stocks with the best overall potential [6] Zacks Rank - The Zacks Rank is a proprietary model that uses earnings estimate revisions to guide investors in building successful portfolios [7] - Stocks rated 1 (Strong Buy) have historically produced an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [8] - There are over 800 stocks rated 1 and 2, making it essential for investors to utilize Style Scores to narrow down choices [8][9] Stock Highlight: Sabesp (SBS) - Sabesp provides public water and sewage services in São Paulo, Brazil, and is primarily owned by the São Paulo government [11] - SBS holds a 2 (Buy) rating on the Zacks Rank and has a VGM Score of A, indicating strong potential [12] - The stock has shown a 14.8% increase over the past four weeks, with an upward revision in earnings estimates for fiscal 2024 [12] - SBS has an average earnings surprise of 30.8%, making it a strong candidate for investors [12][13]

Company Overview - Sabesp (SBS) is currently ranked 2 (Buy) in the Zacks Rank, indicating a strong potential for outperforming the market in the near term [3] - The stock has shown a year-to-date performance increase of approximately 12.6%, surpassing the average gain of 9% in the Utilities sector [4] Earnings Outlook - Over the past three months, the Zacks Consensus Estimate for Sabesp's full-year earnings has increased by 1.8%, reflecting improved analyst sentiment [4] - The company belongs to the Utility - Water Supply industry, which is currently ranked 56 in the Zacks Industry Rank, indicating a relatively strong position within its specific sector [6] Comparative Performance - In comparison, Telecom Italia (TIIAY) has a year-to-date return of 10.9% and also holds a Zacks Rank of 2 (Buy) [5] - The Utility - Water Supply industry, which includes Sabesp, has performed better than the average loss of 4.4% in its group, while Telecom Italia's industry, Diversified Communication Services, has seen a decline of 14.8% [6] Investment Consideration - Both Sabesp and Telecom Italia are highlighted as stocks to watch for investors interested in the Utilities sector due to their solid performance [7]

Core Viewpoint - The article emphasizes the importance of value investing and highlights Companhia de saneamento Basico Do Estado De Sao Paulo Sabesp (SBS) as a potentially undervalued stock based on various financial metrics [2][8]. Company Metrics - SBS holds a Zacks Rank of 2 (Buy) and a Value grade of A, indicating strong potential for value investors [4]. - The stock has a P/E ratio of 12.69, significantly lower than the industry average of 17.75 [4]. - SBS's Forward P/E has fluctuated between 10.93 and 16.72 over the past year, with a median of 13.85 [4]. - The PEG ratio for SBS is 0.76, compared to the industry average of 1.70, suggesting it is undervalued relative to its expected earnings growth [5]. - SBS has a P/B ratio of 1.41, which is lower than the industry average of 2.64, indicating a favorable market value compared to its book value [6]. - The P/CF ratio for SBS is 4.25, well below the industry average of 10.38, further supporting the notion of undervaluation [7]. Investment Outlook - The combination of these metrics suggests that SBS is likely undervalued at present, making it an attractive option for value investors [8].

Core Viewpoint - The recommendation is to hold Sabesp (NYSE: SBS) shares following the release of its 3Q24 results, continuing the previous recommendation made on July 9 [1]. Company Analysis - Sabesp's performance is being closely monitored, with insights provided to assist clients in making informed investment decisions [1]. Market Context - The analysis is based on over 5 years of experience in equity analysis within the Latin American market, indicating a strong understanding of regional dynamics [1].