Irsa Inversiones Y Representaciones SA (IRS) AI Stock Analysis

• Market Cap: $1.17B
• Dividend Yield: 8.97%
• Average Volume (3M): 136.44K
• Price to Earnings (P/E): 6.3
• Beta (1Y): 0.35
• 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: >-0.01
• Price to Book (P/B): 1.11
• Price to Sales (P/S): 2.61
• P/FCF Ratio: 4.58
• Enterprise Value/Market Cap: 1.94K
• Enterprise Value/Revenue: 4.52
• Enterprise Value/Gross Profit: 7.39
• Enterprise Value/Ebitda: 3.62
• 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: $15.00 ▼(-11.66% 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

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.

High Occupancy & Rental Resilience

Very high occupancy across premium offices and malls, plus rent escalation mechanics (fixed/inflation‑adjusted components), underpin stable recurring cash flows. Diversified rental growth (offices up, hotels recovering) strengthens operating cash generation and reduces dependency on volatile single-segment demand.

Visible Development Pipeline

Progress on Distrito Diagonal and active commercialization/swaps at Ramblas del Plata demonstrate execution momentum and tangible inventory conversion. Ongoing lot sales, barter deals and awarded contracts improve project economics, enable capital recycling, and should expand recurring income and saleable assets over the medium term.

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.

FX & Tax Cashflow Volatility

Material FX swings and resumed cash tax payments create recurring earnings and cashflow variability in an Argentine operating environment. Currency translation losses and consumed tax credits can quickly erode free cash flow and increase reliance on dollar liquidity, stressing financing plans and making long‑term cash visibility less reliable.

Potential Equity Dilution

Regulatory approval to expand share authorization, ongoing capital increase filings and outstanding warrants create tangible dilution risk. While equity raises can strengthen the balance sheet for growth, they may depress per‑share metrics and investor returns, and alter control dynamics, affecting long‑term shareholder economics.

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 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-term and short-term leases to retail tenants in shopping centers and to corporate tenants in office properties, generally consisting of base rent plus contractual adjustments and, where applicable, variable components tied to tenant sales or other lease terms (specific lease structures vary by contract and are not fully disclosed here). (2) Shopping center and property-related income: revenues associated with operating commercial properties—such as common area charges and recoveries billed to tenants for maintenance, security, utilities, and marketing funds—depending on how costs are allocated in tenant agreements. (3) Property sales and investment gains: income from selling real estate assets and/or realizing gains or losses from changes in the fair value of investment properties (to the extent fair value accounting or revaluations are recognized in reported results). (4) Development and redevelopment profits: returns generated by developing, expanding, or repositioning properties and then leasing them up, refinancing them, or selling them, capturing the spread between development cost and stabilized value. (5) Financial and capital markets activities related to real estate investment: the company may also generate income or incur costs from financing, hedging, and treasury activities supporting its property platform; the contribution depends on leverage levels, interest rates, and currency conditions. IRSA’s earnings are therefore driven by occupancy, rental rate dynamics, tenant performance (especially in retail), operating cost management, property valuations, and the timing of asset disposals and project completions. Information on specific material partnerships or tenant concentration for this description is null.

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	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

• Technical Analysis Sentiment: Neutral
• 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 Neutral. The current price of 16.98 is above the 20-day moving average (MA) of 15.00, above the 50-day MA of 15.87, and above the 200-day MA of 14.01, indicating a neutral trend. The MACD of -0.43 indicates Positive momentum. The RSI at 44.79 is Neutral, neither overbought nor oversold. The STOCH value of 26.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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	$1.17B	6.33	27.21%	8.97%	2.00%	―
CRESY	68 Neutral	$842.83M	8.56	23.42%	10.18%	-11.13%	―
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
MATW	57 Neutral	$773.48M	4.71	4.65%	3.87%	-16.60%	58.86%
FIP	52 Neutral	$600.27M	-1.54	-13.99%	1.90%	32.39%	-19.35%
CODI	50 Neutral	$458.94M	-1.57	-40.36%	20.53%	-15.85%	-59.42%
FBYD	42 Neutral	$370.41M	-23.14	-39.39%	―	28.46%	-105.62%

Irsa Inversiones Y Representaciones SA Corporate Events

IRSA to Pay Second Interest Installment on 2035 Series XXIV Notes on March 31, 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 funding. The notes carry an annual nominal interest rate of 8.00%, underlining the cost of capital in the company’s financing structure.

The company announced that on March 31, 2026, it will begin paying the second interest installment on its Series XXIV notes issued on March 31, 2025, with The Bank of New York Mellon acting as payment agent. The USD 19.22 million interest payment, in which no principal will be amortized and capital outstanding remains at USD 480.45 million, will be distributed to holders of record as of March 30, 2026, underscoring IRSA’s ongoing servicing of its international debt obligations.

The most recent analyst rating on (IRS) stock is a Hold with a $16.00 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 US$4.98 Million Barter Deal to Advance Ramblas del Plata Project

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 total saleable area of 5,730 square meters and the deal is valued at US$4.98 million.

Under the agreement, IRSA will receive an upfront cash payment and additional saleable square meters in the future instead of a fully cash-settled price, reinforcing its asset base within the project. The company said it will continue infrastructure works on the Ramblas del Plata site while advancing commercialization agreements, signaling ongoing capital rotation and progress in building out this strategic development.

The most recent analyst rating on (IRS) stock is a Hold with a $16.00 price target. To see the full list of analyst forecasts on Irsa Inversiones Y Representaciones SA stock, see the IRS Stock Forecast page.

IRSA Secures CNV Nod to Expand Share Authorization for Option Exercises

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. This move stems from a capital increase and option program originally approved in 2019 and 2021, and reflects adjustments to the conversion ratio under an option agreement dated April 29, 2021.

The new authorization, which complements an existing balance of 34,513,586 authorized shares, is intended to ensure the company can fully meet its obligations if all currently outstanding options are exercised. In the event of full exercise, IRSA’s share capital authorized for public offering would reach ARS 8,611,990,980, represented by 861,199,098 ordinary shares, implying potential dilution but also reinforcing the company’s capacity to finance growth and consolidate its position in the Argentine real estate market.

The most recent analyst rating on (IRS) stock is a Hold with a $16.00 price target. To see the full list of analyst forecasts on Irsa Inversiones Y Representaciones SA stock, see the IRS Stock Forecast page.

IRSA Files December 31, 2025 Interim Results and Details Capital Increase in Process

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 investment properties, trading properties, and stakes in associates and joint ventures. The filing also notes a capital increase approved on December 22, 2025 that was still pending registration at the General Inspection of Justice at year‑end, a move that could strengthen its equity base and support ongoing expansion in Argentina’s commercial real estate market.

The most recent analyst rating on (IRS) stock is a Hold with a $16.00 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 Fourth Interest Installment on Series XVIII Notes on March 2, 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 payment, in U.S. dollars, underscores its continued servicing of foreign-currency debt and may reinforce credit perceptions among bondholders.

The interest payment, totaling USD 755,471.14 at a 7.00% annual nominal rate, will be made on March 2, 2026 through Caja de Valores S.A. to holders of record as of February 27, 2026. No principal will be amortized with this installment, leaving the full USD 21,408,926 of capital outstanding on the notes and signaling that this is a routine coupon payment within the bond’s life cycle.

The most recent analyst rating on (IRS) stock is a Hold with a $16.00 price target. To see the full list of analyst forecasts on Irsa Inversiones Y Representaciones SA stock, see the IRS Stock Forecast page.

IRSA 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.