Irsa Inversiones Y Representaciones SA (IRS) AI Stock Analysis

• Market Cap: $1.16B
• Dividend Yield: 8.97%
• Average Volume (3M): 136.44K
• Price to Earnings (P/E): 5.3
• Beta (1Y): 0.27
• Revenue Growth: 2.00%
• EPS Growth: N/A
• Country: US
• Employees: 1,289
• Sector: Real Estate
• Sector Strength: 53
• Industry: Conglomerates
• EPS (TTM): 1.96
• Shares Outstanding: 77,305,770
• 10 Day Avg. Volume: 164,411
• 30 Day Avg. Volume: 136,436
• PEG Ratio: 0.44
• Price to Book (P/B): 1.18
• Price to Sales (P/S): 4.17
• P/FCF Ratio: 4.89
• Enterprise Value/Market Cap: 1.97K
• Enterprise Value/Revenue: 4.46
• Enterprise Value/Gross Profit: 7.29
• Enterprise Value/Ebitda: 3.64
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 70 Outperform
• Price Target: $16.50 ▼(-2.83% Downside)
• Action: Reiterated Date: 02/19/26
• Date: Action: Reiterated 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

High portfolio occupancy

Sustained very high occupancy across offices and malls signals durable cash flow from leases and low vacancy-driven re-leasing risk. Premium office A/A+ full occupancy supports stable rents, cushioning cyclical mall sales weakness and underpinning predictable rental EBITDA over coming quarters.

Strong cash position and conservative leverage

A >$300M cash buffer combined with modest net debt/rental EBITDA (~1.6x) and low LTV (~13%) provides financial flexibility to fund developments, withstand Argentine macro volatility, and maintain dividends. Coverage ~7x indicates comfortable interest servicing capacity versus rental earnings.

Significant development pipeline

Progress on Distrito Diagonal and Ramblas del Plata grows sellable/lettable GLA and creates future revenue and value conversion opportunities. Advance contract awards and lot swaps de-risk delivery timing and support medium-term asset light monetization and recurring rental income expansion.

Negative Factors

Earnings and cashflow volatility

Historic swings from profits to losses and episodic negative operating/free cash flow reduce predictability of earnings and FCF conversion. This variability means a single strong TTM may not persist, complicating planning, dividend sustainability assessments, and debt paydown projections over the next 2–6 months.

FX and tax volatility impacts

Material FX swings and translation effects drive large P&L and equity volatility in an Argentine real estate business, while consumption of tax credits has restarted cash tax payments. These factors can erode reported profitability and create unpredictable cash outflows independent of underlying rental performance.

Rising leverage and interest-cost risk

As IRSA accelerates development and issues bonds, leverage has climbed and interest costs could rise with further funding. Increased debt to finance GLA expansion raises refinancing and coverage risk if macro rates or rental EBITDA weaken, pressuring cash available for dividends or capex.

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 mall properties primarily for rental purposes. It also develops and sells residential properties; acquires and operates luxury hotels; and acquires undeveloped land reserves for future development or sale. The company was incorporated in 1943 and is headquartered in Buenos Aires, Argentina. IRSA Inversiones y Representaciones Sociedad Anónima is a subsidiary of Cresud Sociedad Anónima Comercial.

How the Company Makes Money

Irsa Inversiones Y Representaciones SA generates revenue through multiple streams. The primary revenue source comes from leasing and operating income derived from its extensive portfolio of commercial properties, including shopping centers and office buildings. Additionally, the company earns income from property sales and development projects. Strategic partnerships with local and international investors enhance its financial capabilities and market reach. The company also benefits from revenue generated by hotel operations and management services within its real estate assets, contributing to its overall financial performance.

Irsa Inversiones Y Representaciones SA Financial Statement Overview

Summary

Strong TTM rebound with very high reported profitability and positive free cash flow, plus manageable current leverage. However, multi-year volatility (profits swinging to losses, inconsistent cash flow/leverage history) lowers confidence in durability.

Income Statement

TTM (Trailing-Twelve-Months) performance is very strong, with revenue up ~10.4% and exceptionally high profitability (gross margin ~61% and net margin ~75%). However, results have been volatile across annual periods: profitability swung from strong in 2022 and 2023 to losses in 2024 and 2025 (annual), which reduces confidence in earnings stability despite the strong TTM rebound.

Balance Sheet

Leverage looks manageable in the latest period, with debt-to-equity around 0.39 in TTM (Trailing-Twelve-Months) and equity meaningfully larger than total debt. Return on equity is strong in TTM (~32%), but the balance sheet has shown notable swings historically (including very high leverage and negative return on equity in 2021), suggesting the capital profile can change materially depending on the cycle and reported results.

Cash Flow

Cash generation is positive in TTM (Trailing-Twelve-Months), with operating cash flow and free cash flow both solid and free cash flow closely tracking net income (~0.97x), which supports earnings quality. The main concern is variability across years (including negative operating/free cash flow in 2021) and a very low operating cash flow relative to debt, implying limited debt paydown capacity from ongoing cash generation alone.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	513.67B	328.55B	328.55B	331.72B	256.98B	45.88B
Gross Profit	314.01B	219.31B	219.31B	217.28B	159.94B	22.68B
EBITDA	629.76B	-33.23B	-33.23B	39.01B	375.51B	542.00M
Net Income	387.23B	-29.13B	-29.13B	223.82B	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	361.85B	280.19B	138.65B	184.19B	98.33B	3.88B
Operating Cash Flow	372.31B	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

• Technical Analysis Sentiment: Negative
• Last Price: 16.98
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

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 15.56, above the 50-day MA of 16.23, and above the 200-day MA of 13.98, indicating a neutral trend. The MACD of -0.30 indicates Positive momentum. The RSI at 37.12 is Neutral, neither overbought nor oversold. The STOCH value of 25.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IRS.

Irsa Inversiones Y Representaciones SA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IRS	70 Outperform	$1.16B	5.34	32.84%	8.97%	2.00%	―
CRESY	68 Neutral	$719.59M	8.48	20.18%	10.18%	-11.13%	―
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
FIP	52 Neutral	$664.04M	-1.54	-13.99%	1.90%	32.39%	-19.35%
CODI	50 Neutral	$516.87M	-1.57	-41.59%	20.53%	-15.85%	-59.42%
MATW	50 Neutral	$800.87M	4.71	4.73%	3.87%	-16.60%	58.86%
FBYD	42 Neutral	$409.98M	-23.14	28.00%	―	28.46%	-105.62%

Irsa Inversiones Y Representaciones SA Corporate Events

IRSA Opens Penultimate Warrant Exercise Window Ahead of May 2026 Expiry

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 internal deadlines. Each warrant entitles the holder to receive 1.6367 common shares with a par value of ARS 10 at an exercise price of USD 0.2641 per share, providing a defined path to convert derivative exposure into equity.

Starting with this window, holders may also use a “Net Exercise with Par Value Contribution” cashless modality, approved at the October 30, 2025 shareholders’ meeting, receiving only the shares corresponding to the difference between the cash exercise price and the reference market value while paying only par value plus any applicable GDS issuance fee. This alternative structure could encourage higher warrant conversion and broaden the company’s shareholder base ahead of the May 2026 maturity, potentially supporting liquidity in both the local shares and their GDS equivalents.

The most recent analyst rating on (IRS) stock is a Buy with a $17.50 price target. To see the full list of analyst forecasts on Irsa Inversiones Y Representaciones SA stock, see the IRS Stock Forecast page.

IRSA Signs USD 6.4 Million Barter Deal to Expand Ramblas del Plata Project

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 “Ramblas del Plata” real estate project. The transaction, valued at USD 6.357 million and structured through an upfront cash payment plus future receipt of saleable space, allows IRSA to continue infrastructure works and advance commercialization agreements, reinforcing its pipeline of urban development inventory and potentially enhancing its future revenue base in the Argentine property market.

The most recent analyst rating on (IRS) stock is a Buy with a $17.50 price target. To see the full list of analyst forecasts on Irsa Inversiones Y Representaciones SA stock, see the IRS Stock Forecast page.

IRSA Swings to Strong Profit, Boosts Equity and Advances Developments After Dividend Payout

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, mainly on gains from changes in the fair value of investment properties, and lifted total comprehensive income to ARS 247,402 million versus a loss a year before. Equity attributable to controlling shareholders rose to ARS 1.85 trillion, supported by higher retained earnings, while adjusted EBITDA from rental segments grew 4.9% year on year to ARS 147,190 million, with shopping malls posting modest revenue and EBITDA growth, full occupancy in the premium office portfolio, and improved results in hotels. The company highlighted continued progress on development projects, including additional lot swaps at Ramblas del Plata worth USD 11.8 million and the USD 6.8 million acquisition of a property in Buenos Aires’ Flores neighborhood, as well as ongoing work at Distrito Diagonal in La Plata, underscoring its strategy of expanding its property and development pipeline. IRSA also reported a sizeable capital markets transaction on December 17, 2025, issuing USD 180 million in additional Class XXIV notes maturing in 2035 to refinance debt and fund investments, and noted the distribution of a cash dividend of ARS 173,788 million on November 4, 2025, equivalent to a 10% yield, signaling a return of capital to shareholders amid an improved earnings and balance sheet profile. The company detailed its capital structure and ownership, including 774.2 million ordinary shares outstanding and 53.16 million warrants expiring in May 2026 that, if fully exercised, would further increase share count and slightly reinforce Cresud’s controlling position, factors that may influence future dilution and control dynamics for investors.

The most recent analyst rating on (IRS) stock is a Buy with a $20.50 price target. To see the full list of analyst forecasts on Irsa Inversiones Y Representaciones SA stock, see the IRS Stock Forecast page.

IRSA to Pay Second Interest Installment on USD 51.5 Million Series XXIII Notes on January 23, 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, totaling USD 1,881,043.14 in interest for the period from July 23, 2025 to January 23, 2026, will be made in U.S. dollars through Caja de Valores S.A. to noteholders registered as of January 22, 2026, signaling the company’s continued compliance with its debt obligations and providing reassurance to bondholders regarding its liquidity and credit discipline.

The most recent analyst rating on (IRS) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on Irsa Inversiones Y Representaciones SA stock, see the IRS Stock Forecast page.

IRSA to Pay Second Interest Installment on Series XXII Notes in January 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 January 23, 2026. The payment, totaling USD 457,978.05 in interest at an annual nominal rate of 5.75% and made in U.S. dollars through Caja de Valores S.A., underscores the company’s continued compliance with its debt obligations and provides clarity and cash flow visibility to noteholders registered as of January 22, 2026.

The most recent analyst rating on (IRS) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on Irsa Inversiones Y Representaciones SA stock, see the IRS Stock Forecast page.

IRSA Signs USD 7.57 Million Barter Deal to Expand Ramblas del Plata Project

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 “Ramblas del Plata” development. The transaction, valued at USD 7.57 million and to be settled through an upfront cash component and future saleable square meters, underscores IRSA’s continued capital recycling and land-assembly strategy in key projects, as the company proceeds with infrastructure works and progresses on commercialization agreements for Ramblas del Plata, potentially enhancing its development pipeline and long-term revenue base.

The most recent analyst rating on (IRS) stock is a Buy with a $17.00 price target. To see the full list of analyst forecasts on Irsa Inversiones Y Representaciones SA stock, see the IRS Stock Forecast page.

IRSA to Begin Seventh Interest Payment on Series XIV Notes

IRSA announced that it will commence the payment of the seventh installment of interest on its Series XIV Notes on December 22, 2025. The notes, originally issued in July 2022, have a principal amount of USD 103,292,263, with an annual nominal interest rate of 8.75%. This payment reflects the company’s ongoing financial obligations and may impact its liquidity and investor relations.

The most recent analyst rating on (IRS) stock is a Buy with a $17.00 price target. To see the full list of analyst forecasts on Irsa Inversiones Y Representaciones SA stock, see the IRS Stock Forecast page.

IRSA Issues USD 180 Million in Series XXIV Notes

On December 11, 2025, IRSA Inversiones y Representaciones Sociedad Anónima announced the issuance of its Series XXIV Additional Notes in the international market, amounting to USD 180 million. This issuance, set to settle on December 17, 2025, will bring the total outstanding nominal value to USD 480,454,198. The notes, with a maturity date of March 31, 2035, and an interest rate of 8.00%, are expected to enhance the company’s financial flexibility and strengthen its market position, potentially impacting stakeholders positively by providing additional capital for growth and development.

The most recent analyst rating on (IRS) stock is a Buy with a $17.00 price target. To see the full list of analyst forecasts on Irsa Inversiones Y Representaciones SA stock, see the IRS Stock Forecast page.

IRSA Releases Interim Financial Statements for September 2025

IRSA Inversiones y Representaciones Sociedad Anónima has filed a report on Form 6-K with the U.S. Securities and Exchange Commission for December 2025, providing unaudited condensed interim consolidated financial statements as of September 30, 2025. These statements, which cover the three-month periods ended September 30, 2025, and 2024, are intended to offer more current financial information than what is typically required. The report highlights the company’s financial position and performance, reflecting its ongoing operations and strategic positioning in the real estate market. This filing is part of IRSA’s compliance with SEC regulations and aims to keep stakeholders informed about its financial health and business prospects.

The most recent analyst rating on (IRS) stock is a Buy with a $17.00 price target. To see the full list of analyst forecasts on Irsa Inversiones Y Representaciones SA stock, see the IRS Stock Forecast page.

IRSA Expands Share Capital Following Warrant Exercise in November 2025

Between November 17 and 25, 2025, IRSA Inversiones y Representaciones S.A. saw certain warrant holders exercise their rights to acquire additional shares, resulting in the registration of 1,132,453 ordinary shares and the collection of USD 299,081. This exercise increased the company’s total shares from 773,057,700 to 774,190,153 and reduced the outstanding warrants from 53,853,144 to 53,161,206, reflecting a strategic move to enhance its capital structure.

The most recent analyst rating on (IRS) stock is a Buy with a $17.00 price target. To see the full list of analyst forecasts on Irsa Inversiones Y Representaciones SA stock, see the IRS Stock Forecast page.

IRSA Announces Third Interest Payment on Series XX Notes

On December 10, 2025, IRSA will commence the payment of the third installment of interest on its Series XX Notes, originally issued on June 10, 2024. The payment, amounting to USD 692,348.92, will be made in USD to noteholders registered as of December 9, 2025, reflecting the company’s ongoing financial commitments and stability in managing its debt obligations.

The most recent analyst rating on (IRS) stock is a Hold with a $17.50 price target. To see the full list of analyst forecasts on Irsa Inversiones Y Representaciones SA stock, see the IRS Stock Forecast page.

IRSA to Pay Fifth Installment on Series XVII Notes

On December 9, 2025, IRSA will commence the payment of the fifth installment of interest and the principal amount related to its Series XVII Notes, which were issued on June 7, 2023. The total principal amount of USD 25,000,000 will be paid in full along with interest of USD 626,712.33, marking a significant financial transaction for the company and its stakeholders.

The most recent analyst rating on (IRS) stock is a Hold with a $17.50 price target. To see the full list of analyst forecasts on Irsa Inversiones Y Representaciones SA stock, see the IRS Stock Forecast page.

IRSA Reports Financial Growth and Share Issuance Update

IRSA Inversiones y Representaciones Sociedad Anónima released its unaudited condensed interim consolidated financial statements for the period ending September 30, 2025. The company reported an increase in its investment properties and trading properties, indicating a potential growth in its real estate portfolio. The capital increase and issuance of shares, resolved by the board on October 23, 2025, are in the process of being registered, which may impact the company’s financial structure and market positioning.

The most recent analyst rating on (IRS) stock is a Hold with a $17.50 price target. To see the full list of analyst forecasts on Irsa Inversiones Y Representaciones SA stock, see the IRS Stock Forecast page.