Irsa Inversiones Y Representaciones (IRS)
NYSE:IRS
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Irsa Inversiones Y Representaciones SA
(NYSE:IRS)
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Rating:65Neutral
Price Target:
$15.00
▼(-11.66% Downside)
Action:Downgraded
Date:05/11/26
The score is driven primarily by solid financial performance in the latest TTM period and a constructive earnings-call outlook with low leverage. Offsetting this are high historical volatility in results and currently weak technical momentum, while valuation is mixed (high yield but negative P/E).
Positive Factors
High mall occupancy and fixed-rent mix
Very high mall occupancy and ~87% fixed-component revenues create stable, predictable rental cash flows that are less sensitive to short-term consumer swings. This structural mix supports durable recurring income, easing forecasting for distributions and debt service over the coming months.
Negative Factors
Pronounced multi-year earnings volatility
Earnings and cash flow have swung materially across years, including multi-year losses, reflecting sensitivity to fair-value adjustments, FX remeasurements and cyclical demand. This reduces predictability of long-term cash generation and complicates capital planning and dividend visibility.
Read all positive and negative factors
Positive Factors
Negative Factors
High mall occupancy and fixed-rent mix
Very high mall occupancy and ~87% fixed-component revenues create stable, predictable rental cash flows that are less sensitive to short-term consumer swings. This structural mix supports durable recurring income, easing forecasting for distributions and debt service over the coming months.
Read all positive factors
Irsa Inversiones Y Representaciones SA (IRS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.09B
Dividend Yield8.97%
Average Volume (3M)175.60K
Price to Earnings (P/E)―
Beta (1Y)0.21
Revenue Growth1.11%
EPS Growth114.50%
CountryUS
Employees1,289
SectorReal Estate
Sector Strength53
IndustryConglomerates
Share Statistics
EPS (TTM)15408.10
Shares Outstanding76,252,080
10 Day Avg. Volume204,475
30 Day Avg. Volume175,596
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.11
Price to Sales (P/S)2.61
P/FCF Ratio5.64K
Enterprise Value/Market Cap2.03K
Enterprise Value/Revenue4.39
Enterprise Value/Gross Profit7.17
Enterprise Value/Ebitda3.51
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)$375.00M
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:May 06, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Sep 08, 2026
Earnings Call Sentiment Positive
The call conveyed a predominantly positive operational and financial picture: solid occupancy and rental performance across shopping malls, offices and hotels; significant net result improvement and healthy dollar EBITDA; meaningful progress on strategic development projects (Zetta expansion, Ramblas) and conservative leverage metrics. Key risks highlighted include a 10% drop in tenant sales in real terms, macro-driven valuation volatility from inflation/currency dynamics, potential for higher interest and tax costs, and near-term consumption weakness. On balance, the positive operational momentum, strong project pipeline and low leverage outweigh the macro and consumption headwinds.Positive Updates
Strong Net Result and Profitability
9-month net result of ARS 239.7 billion versus ARS 46.5 billion in the prior year (≈+416%), driven by positive fair value adjustments, debt remeasurement gains and stronger operating results.
Negative Updates
Retail Sales and Consumption Weakness
Tenant sales in real terms fell about 10% in the last quarter; management flagged weaker consumption trends continuing into April/May and pressure on prices driven by retail reconfiguration and entry of international brands.
Read all updates
Q3-2026 Updates
Positive
Negative
Strong Net Result and Profitability
9-month net result of ARS 239.7 billion versus ARS 46.5 billion in the prior year (≈+416%), driven by positive fair value adjustments, debt remeasurement gains and stronger operating results.
Read all positive updates
Company Guidance
In the FY2026 Q3 call (2026-05-06) management reiterated guidance for a recovery in consumption and economic activity in the coming quarters and said they expect a record-high rental adjusted EBITDA by year-end (rental adjusted EBITDA was $151 million for the 9‑month period); key metrics cited included net result ARS 239.7 billion (vs ARS 46.5 billion prior year), shopping-center revenues up ~2.5% with adjusted EBITDA +2.2% (shopping centers +2% in pesos, ~+6% in dollars), offices +15% and hotels +37%, malls GLA 373,000 sqm with ~98% occupancy and ≈87% of revenues from fixed components, tenant sales down ~10% last quarter, office portfolio ~58,000 sqm (Zetta to expand from ~32,000 to >47,500 sqm with ~72% pre‑let to Mercado Libre; Philips building rents ~$26/m2), hotels ~74% occupancy in Buenos Aires, Ramblas: 36,000 sqm retail, 2 km promenade, 7‑hectare central bay, overall construction ~23% (Phase 1 52% complete), swaps/sales so far ~$105 million total (recent M1+K3 swaps $11.3M; IRSA to receive ~25,000 sellable sqm), balance-sheet metrics net debt / rental EBITDA 1.4x and LTV ~11.3%, 9‑month nominal FX devaluation 15% vs inflation 25% (debt revaluation generated ARS 90.7 billion gain), and management expects to modestly increase net debt for planned CapEx/developments while evaluating capital allocation (including possible buybacks) after audited year‑end results.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 | 279.64M | 227.48M | 138.65B | 184.19B | 98.33B | 3.88B |
| Operating Cash Flow | 287.76M | 235.15M | 144.31B | 189.03B | 101.53B | 5.15B |
| Investing Cash Flow | -181.77M | -107.65M | 116.06B | 136.97B | 89.67B | 238.12B |
| Financing Cash Flow | 169.32M | 79.13M | -266.21B | -420.21B | -109.43B | -170.81B |
Irsa Inversiones Y Representaciones SA Technical Analysis
Negative
16.98
Price Trends
15.02
Negative
15.63
Negative
14.37
Negative
Market Momentum
-0.49
Positive
35.62
Neutral
11.15
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IRS, the sentiment is Negative. The current price of 16.98 is above the 20-day moving average (MA) of 14.33, above the 50-day MA of 15.02, and above the 200-day MA of 14.37, indicating a bearish trend. The MACD of -0.49 indicates Positive momentum. The RSI at 35.62 is Neutral, neither overbought nor oversold. The STOCH value of 11.15 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
68 Neutral | $725.67M | 8.56 | 23.42% | 10.18% | -7.45% | ― | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
65 Neutral | $1.09B | -3.67 | 21.08% | 8.97% | 1.11% | 114.50% | |
56 Neutral | $827.18M | -9.30 | 1.89% | 3.87% | -28.90% | ― | |
54 Neutral | $900.57M | -4.81 | -46.27% | 20.53% | 7.52% | -1.67% | |
52 Neutral | $547.10M | -1.28 | -41.74% | 1.90% | 72.20% | -267.01% | |
43 Neutral | $1.02B | 46.67 | 137.09% | ― | 167.61% | ― |
* Real Estate Sector Average
IRS
Irsa Inversiones Y Representaciones SA
13.95
-0.36
-2.48%
CODI
Compass Diversified Holdings
12.02
4.16
52.93%
CRESY
Cresud Sociedad
10.96
0.10
0.96%
MATW
Matthews International
26.85
6.97
35.03%
FBYD
Falcon's Beyond Global
11.15
4.23
61.13%
FIP
FTAI Infrastructure Incorporation
4.30
-0.59
-12.01%
Irsa Inversiones Y Representaciones SA Corporate Events
IRSA Posts Surging Nine-Month Profit and Details Warrant-Driven Capital Structure Ahead of May 2026 Expiry
May 6, 2026
IRSA Inversiones y Representaciones SA reported a sharp improvement in results for the nine months ended March 31, 2026, with net income jumping to ARS 239,741 million from ARS 46,497 million a year earlier and total comprehensive income rising mo...
IRSA Sets Final May 11–12, 2026 Exercise Window for Expiring Warrants
Apr 28, 2026
On April 28, 2026, IRSA Inversiones y Representaciones S.A. notified the market that holders of its share subscription options, or warrants, will have their final opportunity to exercise them on May 11 and 12, 2026, when the instruments expire. Ea...
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 “...
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.