IRSA Inversiones y Representaciones Sociedad Anónima

IRS · Real Estate · Real Estate Services · Valued as of 2026-11-03 · Statements 2026-06-30

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

2.27B USD

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

Profit

2.40B USD

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

FCFF

1.96B USD

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

Average Intrinsic Value

2.21B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

1.20B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

1.83×

the ratio the screener ranks by

Margin of Safety

+45.5%

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: 2.27B 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)2.57B USD
−②Net Debt Today302.59M USD
+③Growth Value0 USD
=Value2.27B USD

EPV of the Operations (NOPAT over WACC)

2.57B USD

Net debt today

-302.59M USD

Growth Value

0 USD

Value

2.27B USD

①EPV (Earnings Power Value)

2.57B USD

②Net Debt Today

302.59M USD

③Growth Value

0 USD

Market value

Market Cap1.20B USD

The price on the date above times the shares.

Value vs market

Margin of Safety+46.9%

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): 2.40B 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 FCFE1.06B USD
+②Equity at Year 15, Today1.34B USD
=Value2.40B 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 falling to its long-run rate and the ROE on new investment falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

1.06B USD

②Equity at Year 15, Today

1.34B USD

Market value

Market Cap1.20B USD

The price on the date above times the shares.

Value vs market

Margin of Safety+49.8%

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): 1.96B 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 FCFF1.15B USD
+②Invested Capital at Year 15, Today1.12B USD
−③Net Debt Today302.59M USD
=Value1.96B 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 falling to the WACC. Axes linear.

①Present Value of the 15 Years of FCFF

1.15B USD

②Invested Capital at Year 15, Today

1.12B USD

③Net Debt Today

302.59M USD

Market value

Market Cap1.20B USD

The price on the date above times the shares.

Value vs market

Margin of Safety+38.6%

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: 5.36%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.11×Market Risk Premium 6.00%= 5.17%

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 =Tax Provision 101.39M USDPretax Income 385.89M USD= 26.27%

The tax the interest saves.

Interest Expense =EBIT 439.06M USD−Pretax Income 385.89M USD= 53.17M USD

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

Cost of Debt =Interest Expense 53.17M USDTotal Debt 689.41M USD×(1 − Tax Rate for WACC 26.27%)= 5.69%

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

Debt Weight =Total Debt 689.41M USDMarket Cap + Total Debt 1.20B USD + 689.41M USD= 36.42%

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

WACC =Equity Weight 63.58%×Cost of Equity 5.17%+Debt Weight 36.42%×Cost of Debt 5.69%= 5.36%

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 3.28B USD − Total Liabilities 1.65B USD = Book Value Today 1.64B USD

Total Debt 689.41M USD − Cash and Short-Term Investments 386.82M USD = Net Debt Today 302.59M 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 − 110.7%at most 5%does not pass845,994,994 / 764,208,992
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets-5.0%at least -10.0%passes(102.24M USD − 265.93M USD) ÷ 3.28B USD
Price to bookMarket Cap ÷ Book Value Today0.74×at most 3×passes1.20B USD ÷ 1.64B USD
Operating marginOperating Income ÷ Revenue41.0%above 10.0%passes182.43M USD ÷ 444.41M USD
Revenue growthRevenue ÷ Revenue a Year Before − 1-11.7%above 10.0%does not pass444.41M USD / 503.32M USD
Net cash(Cash − Total Debt) ÷ Market Cap-50.9%above -30%does not pass(76.36M USD − 689.41M USD) ÷ 1.20B USD
Operating efficiencyOperating Income ÷ Gross Profit67.6%above 25.0%passes182.43M USD ÷ 269.92M USD

Market Data

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

Share price

14.22 USD

Enterprise value

1.05T USD

the provider's own figure

EV / EBITDA

3.32×

Price / book

0.78×

the provider's book

Price / earnings

3.94×

Return on equity

18.1%

the provider's figure, not this page's

Profit margin

56.5%

Revenue growth

4.1%

Analyst target, mean

21.89 USD

Analysts

3

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.

Income statement (USD)20222023202420252026

Revenue

—1.81B503.32M527.56M444.41M

Gross profit

—1.18B335.96M320.67M269.92M

Operating income

—698.35M233.34M218.98M182.43M

EBITDA

operating income before depreciation and amortisation

—212.50M-50.91M349.44M457.97M

Pretax income

—-71.46M-122.77M271.70M385.89M

Net income

—1.22B-44.62M219.77M265.93M

Normalized income

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

—1.78B204.05M173.90M105.25M

R&D

—————
Balance sheet, year end (USD)20222023202420252026

Total assets

6.43B10.33B3.43B—3.28B

Total liabilities

3.50B4.71B1.67B—1.65B

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

2.74B5.30B1.65B—1.54B

Total debt

1.31B1.61B578.62M—689.41M

Cash and equivalents

220.50M126.80M43.35M—76.36M

Net PP&E

fixed assets after depreciation

159.34M189.92M72.36M—62.33M

Working capital

current assets less current liabilities

-759.56M-15.17M-72.29M—231.29M
Cash flow (USD)20222023202420252026

Operating cash flow

—738.62M158.57M293.57M102.24M

Capital expenditure

paid out, so below zero

—-18.94M-6.22M-10.99M-6.42M

Depreciation and amortisation

—38.44M10.03M33.37M18.91M

Free cash flow

operating cash flow plus capital expenditure

—719.68M152.35M282.57M95.82M