CSAN vs. FLNC

Last updated Apr 2, 2026

Compare and contrast key facts about Cosan S.A. (CSAN) and Fluence Energy, Inc. (FLNC).

Performance

CSAN vs. FLNC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cosan S.A. (CSAN) and Fluence Energy, Inc. (FLNC). The values are adjusted to include any dividend payments, if applicable.

CSAN vs. FLNC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CSAN Cosan S.A.	6.84%	-27.39%	-64.00%	23.17%	-14.64%	11.85%
FLNC Fluence Energy, Inc.	-34.18%	24.56%	-33.42%	39.07%	-51.77%	1.60%

Fundamentals

Market Cap CSAN : $3.43B FLNC : $1.71B
EPS CSAN : -$11.01 FLNC : -$0.31
PS Ratio CSAN : 0.09 FLNC : 0.85
PB Ratio CSAN : 0.65 FLNC : 4.41
Total Revenue (TTM) CSAN : $40.56B FLNC : $2.55B
Gross Profit (TTM) CSAN : $13.22B FLNC : $297.63M
EBITDA (TTM) CSAN : $11.85B FLNC : -$28.21M

Returns By Period

In the year-to-date period, CSAN achieves a 6.84% return, which is significantly higher than FLNC's -34.18% return.

CSAN

• 1D: 2.43%
• 1M: -12.08%
• YTD: 6.84%
• 6M: -7.66%
• 1Y: -19.16%
• 3Y*: -27.57%
• 5Y*: -21.68%
• 10Y*: —

FLNC

• 1D: -5.38%
• 1M: -13.89%
• YTD: -34.18%
• 6M: -3.20%
• 1Y: 171.25%
• 3Y*: -13.69%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

CSAN vs. FLNC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CSAN

CSAN Risk / Return Rank: 26
CSAN Sharpe Ratio Rank: 26
CSAN Sortino Ratio Rank: 26
CSAN Omega Ratio Rank: 26
CSAN Calmar Ratio Rank: 25
CSAN Martin Ratio Rank: 28

FLNC

FLNC Risk / Return Rank: 83
FLNC Sharpe Ratio Rank: 84
FLNC Sortino Ratio Rank: 83
FLNC Omega Ratio Rank: 81
FLNC Calmar Ratio Rank: 84
FLNC Martin Ratio Rank: 82

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CSAN vs. FLNC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cosan S.A. (CSAN) and Fluence Energy, Inc. (FLNC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CSAN	FLNC	Difference
Sharpe ratio Return per unit of total volatility	-0.34	1.56	-1.89
Sortino ratio Return per unit of downside risk	-0.12	2.32	-2.44
Omega ratio Gain probability vs. loss probability	0.99	1.30	-0.31
Calmar ratio Return relative to maximum drawdown	-0.50	2.82	-3.32
Martin ratio Return relative to average drawdown	-0.78	6.86	-7.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CSAN vs. FLNC - Sharpe Ratio Comparison

The current CSAN Sharpe Ratio is -0.34, which is lower than the FLNC Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of CSAN and FLNC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CSAN	FLNC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.34	1.56	-1.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.47	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.46	-0.21	-0.24

Correlation

The correlation between CSAN and FLNC is 0.25, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

CSAN vs. FLNC - Dividend Comparison

Neither CSAN nor FLNC has paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021
CSAN Cosan S.A.	0.00%	0.00%	6.38%	2.20%	2.64%	2.90%
FLNC Fluence Energy, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

CSAN vs. FLNC - Drawdown Comparison

The maximum CSAN drawdown since its inception was -80.02%, smaller than the maximum FLNC drawdown of -90.40%. Use the drawdown chart below to compare losses from any high point for CSAN and FLNC.

Drawdown Indicators

	CSAN	FLNC	Difference
Max Drawdown Largest peak-to-trough decline	-80.02%	-90.40%	+10.38%
Max Drawdown (1Y) Largest decline over 1 year	-38.47%	-59.66%	+21.19%
Max Drawdown (5Y) Largest decline over 5 years	-80.02%	—	—
Current Drawdown Current decline from peak	-77.75%	-65.38%	-12.37%
Average Drawdown Average peak-to-trough decline	-40.60%	-53.82%	+13.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.54%	24.56%	-0.02%

Volatility

CSAN vs. FLNC - Volatility Comparison

The current volatility for Cosan S.A. (CSAN) is 18.80%, while Fluence Energy, Inc. (FLNC) has a volatility of 22.88%. This indicates that CSAN experiences smaller price fluctuations and is considered to be less risky than FLNC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSAN	FLNC	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.80%	22.88%	-4.08%
Volatility (6M) Calculated over the trailing 6-month period	38.61%	89.10%	-50.49%
Volatility (1Y) Calculated over the trailing 1-year period	57.00%	110.74%	-53.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.31%	93.73%	-47.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.27%	93.73%	-47.46%

Financials

CSAN vs. FLNC - Profitability Comparison

The chart below illustrates the profitability comparison between Cosan S.A. and Fluence Energy, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CSAN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Cosan S.A. reported a gross profit of 3.03B and revenue of 9.76B. Therefore, the gross margin over that period was 31.0%.

FLNC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Fluence Energy, Inc. reported a gross profit of 23.05M and revenue of 475.23M. Therefore, the gross margin over that period was 4.9%.

CSAN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Cosan S.A. reported an operating income of 1.82B and revenue of 9.76B, resulting in an operating margin of 18.6%.

FLNC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Fluence Energy, Inc. reported an operating income of -59.37M and revenue of 475.23M, resulting in an operating margin of -12.5%.

CSAN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Cosan S.A. reported a net income of -5.89B and revenue of 9.76B, resulting in a net margin of -60.4%.

FLNC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Fluence Energy, Inc. reported a net income of -45.07M and revenue of 475.23M, resulting in a net margin of -9.5%.