The objective of this work is to calculate the fair value of the shares of Transmissora Aliança de Energia Elétrica S.A. (Taesa) using the discounted cash flow (DCF) method. The analysis is based on historical financial data from 2018 to 2022, extracted from the company s standardized financial statements (DFP). Furthermore, future financial performance is forecast taking into account relevant economic and sectoral factors. The study applies a weighted average cost of capital (WACC) model to determine the discount rate and incorporates company-specific risk premiums into the CAPM calculation. Details the formulas used to calculate free cash flow to the company (FCFF) and free cash flow to shareholders (FCFE), including the impact of capital expenditures. Taesa was selected based on its prominence in Brazil s power transmission sector, financial stability and the investor appeal of its dividend distribution track record. This work is designed to provide a detailed and informed assessment of a company s value to assist in making informed investment decisions. The results show that the fair value of Taesa shares is related to the current market value based on the DCF method, providing valuable insights into whether the company is potentially undervalued or overvalued. The conclusion highlights the importance of rigorous and informed analysis for investors and stakeholders.