Financials Multiplan Empreendimentos Imobiliarios S.A.

Equities

MULT3

BRMULTACNOR5

Real Estate Development & Operations

Market Closed - Sao Paulo 21:07:51 12/06/2024 BST 5-day change 1st Jan Change
22.7 BRL -0.09% Intraday chart for Multiplan Empreendimentos Imobiliarios S.A. -0.57% -20.13%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 19,736 14,037 11,091 12,829 16,547 13,207 - -
Enterprise Value (EV) 1 21,972 15,935 13,336 12,829 18,632 15,324 14,960 14,395
P/E ratio 42.1 x 14.7 x 24.8 x 16.9 x 16.4 x 12.2 x 11.2 x 10.8 x
Yield 1.42% - 2.67% - - 4.3% 4.52% 5.22%
Capitalization / Revenue 14.9 x 7.36 x 8.61 x 7.14 x 8.15 x 6.04 x 5.72 x 5.54 x
EV / Revenue 16.5 x 8.36 x 10.4 x 7.14 x 9.18 x 7.01 x 6.48 x 6.04 x
EV / EBITDA 22 x 11.5 x 16.4 x 18.1 x 12.4 x 9.3 x 8.52 x 7.83 x
EV / FCF 102 x -381 x 85.8 x - 20 x 34.7 x 16.8 x 13.3 x
FCF Yield 0.98% -0.26% 1.17% - 5.01% 2.88% 5.94% 7.52%
Price to Book 3.32 x 2.11 x 1.64 x - 2.46 x 1.81 x 1.68 x 1.6 x
Nbr of stocks (in thousands) 596,254 596,543 592,477 585,816 582,219 581,283 - -
Reference price 2 33.10 23.53 18.72 21.90 28.42 22.72 22.72 22.72
Announcement Date 17/02/20 11/02/21 10/02/22 09/02/23 08/02/24 - - -
1BRL in Million2BRL
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,329 1,907 1,288 1,798 2,030 2,187 2,309 2,383
EBITDA 1 997.7 1,384 812.6 708.3 1,506 1,648 1,756 1,838
EBIT 1 774.9 1,158 611.5 1,069 1,358 1,502 1,584 1,653
Operating Margin 58.31% 60.75% 47.46% 59.44% 66.93% 68.68% 68.57% 69.34%
Earnings before Tax (EBT) 1 561 1,073 497.4 826.7 1,131 1,284 1,390 1,503
Net income 1 471 964.2 453.1 769.3 1,020 1,136 1,204 1,283
Net margin 35.45% 50.57% 35.17% 42.79% 50.28% 51.94% 52.14% 53.84%
EPS 2 0.7855 1.601 0.7563 1.300 1.733 1.865 2.021 2.105
Free Cash Flow 1 215.1 -41.77 155.4 - 933.5 442 888 1,083
FCF margin 16.19% -2.19% 12.06% - 46% 20.21% 38.45% 45.44%
FCF Conversion (EBITDA) 21.56% - 19.13% - 61.97% 26.83% 50.58% 58.93%
FCF Conversion (Net income) 45.68% - 34.3% - 91.49% 38.91% 73.74% 84.4%
Dividend per Share 2 0.4696 - 0.4989 - - 0.9771 1.026 1.185
Announcement Date 17/02/20 11/02/21 10/02/22 09/02/23 08/02/24 - - -
1BRL in Million2BRL
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 438.9 413.6 430.5 449 504.5 464.8 487.6 506.6 570.6 523.6 511.8 507.7 634.4 515.2 567.1
EBITDA 1 283.7 294 286.5 321.4 373.4 356.9 367.5 390.8 391.4 390.8 377.9 372.9 473.4 - -
EBIT 1 226.1 242.3 234.4 269.6 322.1 310.8 333.3 355.1 359.2 356.3 361.3 365.7 466.3 368.6 400.8
Operating Margin 51.5% 58.58% 54.46% 60.05% 63.86% 66.87% 68.36% 70.09% 62.95% 68.04% 70.6% 72.04% 73.5% 71.55% 70.69%
Earnings before Tax (EBT) 1 - 188.8 172.9 206.9 258.1 243 275.2 302.7 310.1 320.1 304.9 316.2 433.6 324.2 355.5
Net income 1 - 171.6 172.6 186.1 239 207.2 247.2 263.4 302.6 267 253.1 261.5 345 283.8 295.6
Net margin - 41.48% 40.08% 41.45% 47.38% 44.58% 50.7% 51.99% 53.03% 51% 49.45% 51.52% 54.39% 55.09% 52.13%
EPS 2 0.3556 0.2882 0.2908 0.3148 0.4058 0.3493 0.4180 0.4487 0.5170 0.4541 0.4374 0.4546 0.5763 0.4487 0.5078
Dividend per Share 2 - - - - - - - - - - 0.2272 0.2304 0.2381 0.3259 0.2681
Announcement Date 10/02/22 28/04/22 28/07/22 03/11/22 09/02/23 27/04/23 27/07/23 26/10/23 08/02/24 25/04/24 - - - - -
1BRL in Million2BRL
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,236 1,898 2,245 - 2,086 2,117 1,753 1,188
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.241 x 1.372 x 2.763 x - 1.384 x 1.285 x 0.9986 x 0.6466 x
Free Cash Flow 1 215 -41.8 155 - 934 442 888 1,083
ROE (net income / shareholders' equity) 8.62% 16.3% 7.2% - 15.1% 15.3% 15.3% 15.2%
ROA (Net income/ Total Assets) 5.11% - 4.27% - 9.1% 8.98% 9.4% 9.98%
Assets 1 9,226 - 10,613 - 11,207 12,654 12,812 12,856
Book Value Per Share 2 9.960 11.20 11.40 - 11.50 12.50 13.50 14.20
Cash Flow per Share 1.600 0.8500 1.170 - - - - -
Capex 1 746 551 546 - 481 767 480 770
Capex / Sales 56.16% 28.88% 42.4% - 23.72% 35.08% 20.79% 32.31%
Announcement Date 17/02/20 11/02/21 10/02/22 09/02/23 08/02/24 - - -
1BRL in Million2BRL
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
12
Last Close Price
22.72 BRL
Average target price
31.9 BRL
Spread / Average Target
+40.40%
Consensus
  1. Stock Market
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  4. Financials Multiplan Empreendimentos Imobiliarios S.A.
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