Corporación Inmobiliaria Vesta, S.A.B. de C.V.

VTMX · Real Estate · Real Estate - Diversified · Valued as of 2026-11-03 · Statements 2025-12-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

2.65B USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

3.23B USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

2.71B USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

2.86B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

3.32B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.86×

the ratio the screener ranks by

Margin of Safety

-16.2%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 2.65B USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)3.04B USD
−②Net Debt Today774.19M USD
+③Growth Value387.38M USD
=Value2.65B USD

EPV of the Operations (NOPAT over WACC)

3.04B USD

Net debt today

-774.19M USD

Growth Value

+387.38M USD

Value

2.65B USD

①EPV (earnings power value)

3.04B USD

②Net Debt Today

774.19M USD

③Growth Value

387.38M USD

Market value

Market Cap3.32B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-25.4%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 3.23B USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE1.53B USD
+②Equity at Year 15, Today1.70B USD
=Value3.23B USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth rising to its long-run rate and the ROE on new investment rising to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

1.53B USD

②Equity at Year 15, Today

1.70B USD

Market value

Market Cap3.32B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-3.0%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 2.71B USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).
①Present Value of the 15 Years of FCFF1.40B USD
+②Invested Capital at Year 15, Today2.08B USD
−③Net Debt Today774.19M USD
=Value2.71B USD
FCFF: the NOPAT left for the shareholders and the lenders once the business reinvests what next year's growth needsReinvestment: the part of the year's NOPAT put back into the business to grow the next year; below zero, capital the business releasesPresent value of the FCFFColoured bars show the FCFF, grey bars the reinvestment. With a positive reinvestment the two stacked are the year's NOPAT; with a negative one the grey is below zero, capital the business releases, and the NOPAT is the FCFF plus that negative amount. Shaded, years 6 to 10: the growth rising to its long-run rate and the ROIC on new investment rising to the WACC. Axes linear.

①Present Value of the 15 Years of FCFF

1.40B USD

②Invested Capital at Year 15, Today

2.08B USD

③Net Debt Today

774.19M USD

Market value

Market Cap3.32B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-22.8%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 5.35%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.26×Market Risk Premium 6.00%= 6.04%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC 25.00% (default): the statements print a tax provision of -7.94M USD on a pretax income of 234.20M USD, which gives no rate between 0 and the profit before tax, so the 25% default stands for the tax the interest saves.

Interest Expense =EBIT 287.36M USD−Pretax Income 234.20M USD= 53.15M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 53.15M USDTotal Debt 1.18B USD×(1 − Tax Rate for WACC 25.00%)= 3.38%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 1.18B USDMarket Cap + Total Debt 3.32B USD + 1.18B USD= 26.18%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 73.82%×Cost of Equity 6.04%+Debt Weight 26.18%×Cost of Debt 3.38%= 5.35%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-06-30.

Total Assets 4.84B USD − Total Liabilities 1.69B USD = Book Value Today 3.15B USD

Total Debt 1.18B USD − Cash and Short-Term Investments 404.61M USD = Net Debt Today 774.19M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 16.6%at most 5%does not pass927,880,990 / 870,109,128
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets-0.7%at least -10.0%passes(207.46M USD − 242.14M USD) ÷ 4.84B USD
Price to bookMarket Cap ÷ Book Value Today1.06×at most 3×passes3.32B USD ÷ 3.15B USD
Operating marginOperating Income ÷ Revenue78.2%above 10.0%passes221.74M USD ÷ 283.51M USD
Revenue growthRevenue ÷ Revenue a Year Before − 112.2%above 10.0%passes283.51M USD / 252.58M USD
Net cash(Cash − Total Debt) ÷ Market Cap-23.3%above -30%passes(404.61M USD − 1.18B USD) ÷ 3.32B USD
Operating efficiencyOperating Income ÷ Gross Profit86.9%above 25.0%passes221.74M USD ÷ 255.20M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

35.83 USD

Enterprise value

4.10B USD

the provider's own figure

EV / EBITDA

17.81×

Price / book

1.06×

the provider's book

Price / earnings

7.81×

Return on equity

14.1%

the provider's figure, not this page's

Profit margin

132.2%

Revenue growth

16.8%

Analyst target, mean

37.44 USD

Analysts

4

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

USD2022202320242025
Income statement

Revenue

178.20M214.68M252.58M283.51M

Gross profit

166.77M196.42M227.96M255.20M

Operating income

142.45M164.86M194.08M221.74M

EBITDA

operating income before depreciation and amortisation

338.50M427.96M469.99M289.08M

Pretax income

292.14M382.00M426.59M234.20M

Net income

243.87M316.95M223.57M242.14M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

82.09M105.63M39.52M197.91M

R&D

————
Balance sheet, year end

Total assets

2.96B3.80B3.96B4.55B

Total liabilities

1.31B1.31B1.36B1.80B

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

1.64B2.49B2.60B2.75B

Total debt

932.94M917.00M848.46M1.28B

Cash and equivalents

139.20M501.60M184.18M337.22M

Net PP&E

fixed assets after depreciation

2.86M3.38M2.92M3.68M

Working capital

current assets less current liabilities

142.33M419.28M153.08M315.59M
Cash flow

Operating cash flow

65.28M144.94M129.84M207.46M

Capital expenditure

paid out, so below zero

-220.10K-2.08M-597.93K-838.21K

Depreciation and amortisation

1.47M1.58M1.42M1.73M

Free cash flow

operating cash flow plus capital expenditure

65.06M142.86M129.24M206.62M