Irsa Inversiones Y Representaciones (IRS)
NYSE:IRS
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Irsa Inversiones Y Representaciones SA
(NYSE:IRS)
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Rating:70Outperform
Price Target:
$15.00
â–¼(-11.66% Downside)
Action:ReiteratedDate:02/19/26
The score is driven primarily by solid financial performance (strong TTM profitability/FCF but high volatility) and supportive earnings-call guidance (cash strength, conservative leverage, and execution progress). Valuation is very attractive (low P/E, high yield), but technicals are weak with bearish momentum and the stock trading below key moving averages.
Positive Factors
Liquidity & Conservative Leverage
A large cash buffer and conservative leverage metrics provide durable financial flexibility to fund ongoing developments, service dollar debt, and sustain dividends. These structural liquidity and coverage ratios reduce refinancing risk and support multi-year project execution while preserving investment optionality.
Negative Factors
Earnings Volatility / Fair‑Value Sensitivity
Reported profits have been materially driven by valuation remeasurements, producing large swings in net income and complicating earnings predictability. Reliance on fair‑value gains diminishes the transparency of sustainable cash earnings, making multi‑period planning, debt metrics and dividend coverage less certain over time.
Read all positive and negative factors
Positive Factors
Negative Factors
Liquidity & Conservative Leverage
A large cash buffer and conservative leverage metrics provide durable financial flexibility to fund ongoing developments, service dollar debt, and sustain dividends. These structural liquidity and coverage ratios reduce refinancing risk and support multi-year project execution while preserving investment optionality.
Read all positive factors
Irsa Inversiones Y Representaciones SA (IRS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.38B
Dividend Yield8.97%
Average Volume (3M)136.44K
Price to Earnings (P/E)6.3
Beta (1Y)0.29
Revenue Growth2.00%
EPS GrowthN/A
CountryUS
Employees1,289
SectorReal Estate
Sector Strength53
IndustryConglomerates
Share Statistics
EPS (TTM)1.96
Shares Outstanding77,305,770
10 Day Avg. Volume164,411
30 Day Avg. Volume136,436
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.11
Price to Sales (P/S)2.61
P/FCF Ratio4.58
Enterprise Value/Market Cap1.81K
Enterprise Value/Revenue4.96
Enterprise Value/Gross Profit8.11
Enterprise Value/Ebitda3.97
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Irsa Inversiones Y Representaciones SA Business Overview & Revenue Model
Company Description
IRSA Inversiones y Representaciones Sociedad Anónima engages in the diversified real estate activities in Argentina. The company is involved in the acquisition, development, and operation of shopping malls, office buildings, and other non-shopping...
How the Company Makes Money
IRSA primarily makes money by generating recurring income from its real estate portfolio and by monetizing value creation from property development and investment activities. Key revenue streams typically include: (1) Rental and lease income: long...
Irsa Inversiones Y Representaciones SA Earnings Call Summary
Earnings Call Date:Feb 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:May 12, 2026
Earnings Call Sentiment Positive
The call presents a largely positive operational and financial picture: a material accounting-era net income turnaround driven by fair value gains, healthy occupancy across core segments, developing projects progressing on schedule, a strong cash position, conservative LTV and coverage metrics, and proactive capital market activity (reopened bonds, dividend paid). Key risks discussed include weaker tenant real sales (notably textiles), FX volatility impacting interim financials and taxes, slightly higher leverage as the company re-enters an expansion phase, and some short-term margin/occupancy impacts from renovations. Overall, management emphasizes confidence in growth execution while acknowledging macro and timing risks.Positive Updates
Net Income Turnaround and Fair Value Gains
Reported net gain of ARS 248.8 billion for the semester versus a loss in the same period last year; gain in fair value of investment properties of ARS 185 billion this year compared with a loss of ARS 306 billion last year.
Negative Updates
Decline in Tenant Real Sales
Tenant real sales decreased ~7% last quarter and ~9% this quarter versus prior periods, driven by electoral impact and price pressure (prices down while volumes rise), particularly affecting apparel/textile sector.
Read all updates
Q2-2026 Updates
Positive
Negative
Net Income Turnaround and Fair Value Gains
Reported net gain of ARS 248.8 billion for the semester versus a loss in the same period last year; gain in fair value of investment properties of ARS 185 billion this year compared with a loss of ARS 306 billion last year.
Read all positive updates
Company Guidance
IRSA’s guidance is for an accelerated expansion while preserving a conservative balance sheet: management expects Distrito Diagonal to open in May 2027 (22,000 sqm GLA; construction ~23% complete; ~78% of contracts awarded) and total GLA to reach ~458,000 sqm, with Ramblas del Plata now comprising 26 plots (~207,000 sellable sqm), ~124,000 sqm already covered by $93M of deals (including two swaps for $11.7M) and project construction ~20% complete (Phase 1 infrastructure ~60%, >1,900 trees planted); operational targets assume malls at ~98% occupancy despite tenant sales down -7% and -9% the last two quarters, mall revenues +4% and adjusted EBITDA +2% (6-months), rental segment +4.9% in real pesos (malls +2%, offices +15%, hotels +44.8%), rental EBITDA of $102M for the semester, offices portfolio 58,000 sqm at 100% occupancy with rents $25–$26/sqm/month, hotels 69% occupancy and ADR $227; financing guidance highlights a strong cash position (> $300M), an $180M bond reopening at 8.25% yield (coupon 8%), planned amortization coverage of $226M, and conservative leverage metrics (net debt/rental EBITDA 1.6x, LTV ~13%, coverage ~7x) with management comfortable around ~2.0x (well under 3.0x) while continuing dividend and M&A activity.Irsa Inversiones Y Representaciones SA Financial Statement Overview
Summary
Income Statement
73
Positive
Balance Sheet
66
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 502.69B | 490.53B | 458.06B | 462.49B | 256.98B | 45.88B |
| Gross Profit | 307.54B | 298.41B | 305.75B | 302.93B | 159.94B | 22.68B |
| EBITDA | 628.59B | 212.82B | -46.33B | 54.38B | 375.51B | 542.00M |
| Net Income | 374.35B | 109.57B | -40.61B | 312.05B | 276.74B | -105.80B |
Balance Sheet | ||||||
| Total Assets | 4.18T | 2.50T | 2.24T | 2.64T | 803.67B | 365.32B |
| Cash, Cash Equivalents and Short-Term Investments | 519.25B | 186.06B | 148.96B | 160.30B | 67.30B | 8.36B |
| Total Debt | 997.91B | 455.48B | 377.70B | 412.24B | 163.76B | 103.37B |
| Total Liabilities | 2.22T | 1.27T | 1.09T | 1.21T | 437.77B | 229.67B |
| Stockholders Equity | 1.85T | 1.16T | 1.08T | 1.36T | 342.46B | 101.39B |
Cash Flow | ||||||
| Free Cash Flow | 289.79B | 280.19B | 138.65B | 184.19B | 98.33B | 3.88B |
| Operating Cash Flow | 300.33B | 289.64B | 144.31B | 189.03B | 101.53B | 5.15B |
| Investing Cash Flow | -130.19B | -132.60B | 116.06B | 136.97B | 89.67B | 238.12B |
| Financing Cash Flow | 124.44B | 97.47B | -266.21B | -420.21B | -109.43B | -170.81B |
Irsa Inversiones Y Representaciones SA Technical Analysis
Positive
16.98
Price Trends
15.73
Positive
15.60
Positive
14.11
Positive
Market Momentum
0.19
Negative
62.99
Neutral
96.91
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IRS, the sentiment is Positive. The current price of 16.98 is above the 20-day moving average (MA) of 15.07, above the 50-day MA of 15.73, and above the 200-day MA of 14.11, indicating a bullish trend. The MACD of 0.19 indicates Negative momentum. The RSI at 62.99 is Neutral, neither overbought nor oversold. The STOCH value of 96.91 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IRS.
Irsa Inversiones Y Representaciones SA Risk Analysis
Irsa Inversiones Y Representaciones SA disclosed 4 risk factors in its most recent earnings report. Irsa Inversiones Y Representaciones SA reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
Technology Risks Q2, 2025
2.
Operational Risks Q2, 2025
3.
Market Risks Q2, 2025
Irsa Inversiones Y Representaciones SA Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $1.38B | 6.33 | 27.21% | 8.97% | 2.00% | ― | |
68 Neutral | $870.17M | 8.56 | 23.42% | 10.18% | -11.13% | ― | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
58 Neutral | $1.09B | 173.56 | 257.49% | ― | 28.46% | -105.62% | |
57 Neutral | $789.98M | 4.71 | 4.65% | 3.87% | -16.60% | 58.86% | |
56 Neutral | $646.28M | -1.57 | -40.36% | 20.53% | -15.85% | -59.42% | |
52 Neutral | $595.54M | -1.54 | -13.99% | 1.90% | 32.39% | -19.35% |
* Real Estate Sector Average
IRS
Irsa Inversiones Y Representaciones SA
16.65
5.92
55.20%
CODI
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8.59
-7.64
-47.07%
CRESY
Cresud Sociedad
12.58
3.39
36.95%
MATW
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25.38
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33.26%
FBYD
Falcon's Beyond Global
11.28
3.57
46.30%
FIP
FTAI Infrastructure Incorporation
5.04
1.44
39.96%
Irsa Inversiones Y Representaciones SA Corporate Events
IRSA to Pay Second Interest Installment on 2035 Series XXIV Notes on March 31, 2026
Mar 20, 2026
IRSA Inversiones y Representaciones SA, the Argentine real estate and investment group, has fixed-rate Series XXIV notes outstanding in a principal amount of USD 480.45 million, due 2035, reflecting its continued reliance on long-term dollar fundi...
IRSA Signs US$4.98 Million Barter Deal to Advance Ramblas del Plata Project
Mar 4, 2026
On March 4, 2026, IRSA Inversiones y Representaciones S.A. announced it had signed a barter agreement for a 2,617-square-meter lot that forms part of the extended first stage of its Ramblas del Plata real estate project. The lot has an estimated t...
IRSA Secures CNV Nod to Expand Share Authorization for Option Exercises
Feb 27, 2026
On February 27, 2026, IRSA Inversiones y Representaciones S.A. announced it had obtained authorization from Argentina’s securities regulator to issue an additional 52,495,359 ordinary book-entry shares with a nominal value of ARS 10 each. Th...
IRSA Files December 31, 2025 Interim Results and Details Capital Increase in Process
Feb 25, 2026
IRSA Inversiones y Representaciones reported unaudited condensed interim consolidated financial statements as of December 31, 2025, covering the six‑ and three‑month periods then ended, showing growth in non‑current assets led by...
IRSA to Pay Fourth Interest Installment on Series XVIII Notes on March 2, 2026
Feb 23, 2026
Irsa Inversiones y Representaciones Sociedad Anónima announced that it will begin paying the fourth interest installment on its fixed-rate Series XVIII Notes, which were issued on February 28, 2024 and are due in 2027. The company said the pa...
IRSA Opens Penultimate Warrant Exercise Window Ahead of May 2026 Expiry
Feb 18, 2026
On February 18, 2026, IRSA announced to warrant holders that the penultimate exercise window before the instruments’ May 2026 expiry has opened, running from February 17 to February 25, 2026, with intermediaries potentially setting earlier i...
IRSA Signs USD 6.4 Million Barter Deal to Expand Ramblas del Plata Project
Feb 13, 2026
On February 13, 2026, IRSA Inversiones y Representaciones S.A. announced it had signed a barter agreement for a 2,111-square-meter lot, with an estimated 7,557 square meters of total saleable area, as part of the extended first stage of its “...
IRSA Swings to Strong Profit, Boosts Equity and Advances Developments After Dividend Payout
Feb 3, 2026
In a report dated February 3, 2026, IRSA Inversiones y Representaciones SA disclosed that for the three‑month period ended December 31, 2025, it swung to a net profit of ARS 248,817 million from a loss of ARS 53,896 million a year earlier, m...
IRSA to Pay Second Interest Installment on USD 51.5 Million Series XXIII Notes on January 23, 2026
Jan 16, 2026
IRSA announced that it will begin paying the second interest installment on its Fixed Rate Series XXIII Notes, with a nominal value and outstanding principal of USD 51,467,822 and a 7.25% annual nominal rate, on January 23, 2026. The payment, tota...
IRSA to Pay Second Interest Installment on Series XXII Notes in January 2026
Jan 16, 2026
IRSA announced that it will begin paying the second interest installment on its fixed-rate Series XXII Notes, with a principal amount of USD 15,799,810 due 2027, on January 26, 2026, covering the interest accrual period from July 23, 2025 to Janua...
IRSA Signs USD 7.57 Million Barter Deal to Expand Ramblas del Plata Project
Dec 29, 2025
On December 26, 2025, IRSA Inversiones y Representaciones S.A. announced it had signed a barter agreement for a new 2,074-square-meter lot, with an estimated total saleable area of 8,550 square meters, within the extended first stage of its “...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.