IRSA Inversiones y Representaciones Sociedad Anónima (IRS)
Real Estate · NYQ · US
Fundamentals
Valuation and ratings
IRSA Inversiones y Representaciones Sociedad Anónima trades at USD15.04, which is 121% below the USD33.31 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 83 out of 100, which is a wide moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 4.9 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About IRSA Inversiones y Representaciones Sociedad Anónima
IRSA Inversiones y Representaciones Sociedad Anónima, together with its subsidiaries, engages in the diversified real estate activities in Argentina. It operates through five segments: Shopping Malls, Offices, Sales and Developments, Hotels, and Others. The company is involved in the acquisition, development, and operation of shopping malls, office buildings, and other non-shopping mall properties primarily for rental purposes; and lease and service related to rental of commercial space and other spaces. It also acquires and operates luxury hotels and resorts under the Intercontinental, Libertador, and Llao Llao names; develops, constructs, and sells residential properties, including apartment tower complexes; and acquires undeveloped land reserves for future development or sale. In addition, the company engages in the development and operation of stadium; and provision of ¡appa!, a digital customer loyalty system platform, for consumption in shopping malls, use of parking spaces, and redemption of corporate benefits. Further, it is involved in development, maintenance and sales of undeveloped parcels of land and/or trading properties; room, catering and restaurant services. The company was incorporated in 1943 and is headquartered in Buenos Aires, Argentina. IRSA Inversiones y Representaciones Sociedad Anónima operates as a subsidiary of Cresud S.A.C.I.F. y A.
IRS passes 6 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
4 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Polen Capital, POLEN CAPITAL MANAGEMENT LLC$1.53M · 0.0% of book
- Arrowstreet Capital, ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$1.15M · 0.0% of book
- Ken Griffin, CITADEL ADVISORS LLC$522.1K · 0.0% of book
- Steve Cohen, Point72 Asset Management, L.P.$186.5K · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is IRSA Inversiones y Representaciones Sociedad Anónima (IRS) undervalued?
Against our discounted cash flow estimate of USD33.31, IRS at USD15.04 is 121% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own IRS?
4 of the institutions we track reported a position in IRS in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is IRS's P/E ratio?
IRS trades at 4.9 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.