Would Fica Empreendimentos Imobiliarios (BVMF:FIEI3) Be Better Off With Less Debt?
Jul 25
Brazilian (BOVESPA) Real Estate Industry Analysis
UpdatedJul 26, 2024
DataAggregated Company Financials
Companies16
- 7D-2.1%
- 3M-2.8%
- 1Y-10.8%
- YTD-12.6%
Over the last 7 days, the Real Estate industry has dropped 2.1%, driven by a pullback from Multiplan Empreendimentos Imobiliários of 3.6%. Meanwhile, São Carlos Empreendimentos e Participações actually outperformed within the industry, gaining 5.8% in the last week. Overall the industry is down 11% in 12 months. Looking forward, earnings are forecast to grow by 16% annually.
Industry Valuation and Performance
Has the Brazilian Real Estate Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 26 Jul 2024 | R$45.6b | R$14.5b | R$3.4b | 9x | 13.5x | 3.2x |
| Sun, 23 Jun 2024 | R$43.7b | R$14.6b | R$3.4b | 9.4x | 12.8x | 3x |
| Tue, 21 May 2024 | R$46.4b | R$14.5b | R$3.4b | 10.4x | 13.7x | 3.2x |
| Thu, 18 Apr 2024 | R$46.7b | R$15.5b | R$6.1b | 8x | 7.7x | 3x |
| Sat, 16 Mar 2024 | R$51.0b | R$14.6b | R$6.2b | 8.7x | 8.3x | 3.5x |
| Mon, 12 Feb 2024 | R$46.3b | R$13.2b | R$5.7b | 9.7x | 8.1x | 3.5x |
| Wed, 10 Jan 2024 | R$56.6b | R$14.7b | R$6.1b | 11.4x | 9.3x | 3.8x |
| Fri, 08 Dec 2023 | R$54.6b | R$28.3b | R$6.1b | 11x | 8.9x | 1.9x |
| Sun, 05 Nov 2023 | R$52.3b | R$27.8b | R$6.3b | 11.3x | 8.4x | 1.9x |
| Tue, 03 Oct 2023 | R$52.0b | R$14.6b | R$6.2b | 9.2x | 8.3x | 3.6x |
| Thu, 31 Aug 2023 | R$55.0b | R$14.6b | R$6.2b | 10.6x | 8.8x | 3.8x |
| Sat, 29 Jul 2023 | R$56.4b | R$13.8b | R$4.4b | 12.1x | 12.9x | 4.1x |
| Mon, 26 Jun 2023 | R$56.8b | R$13.8b | R$4.3b | 10.6x | 13.2x | 4.1x |
| Wed, 24 May 2023 | R$52.0b | R$12.7b | R$4.2b | 9x | 12.3x | 4.1x |
| Fri, 21 Apr 2023 | R$47.7b | R$13.0b | R$1.4b | 9.6x | 33.7x | 3.7x |
| Sun, 19 Mar 2023 | R$49.2b | R$13.0b | R$1.8b | 8.7x | 28.1x | 3.8x |
| Tue, 14 Feb 2023 | R$43.8b | R$14.7b | R$3.0b | 7.5x | 14.7x | 3x |
| Thu, 12 Jan 2023 | R$44.1b | R$14.7b | R$3.0b | 7.5x | 14.6x | 3x |
| Sat, 10 Dec 2022 | R$43.0b | R$14.7b | R$3.0b | 7.5x | 14.3x | 2.9x |
| Mon, 07 Nov 2022 | R$54.1b | R$14.3b | R$2.9b | 7.2x | 18.6x | 3.8x |
| Wed, 05 Oct 2022 | R$52.5b | R$14.1b | R$2.8b | 7.8x | 18.7x | 3.7x |
| Fri, 02 Sep 2022 | R$48.9b | R$14.0b | R$2.8b | 9.2x | 17.7x | 3.5x |
| Sun, 31 Jul 2022 | R$46.8b | R$14.0b | R$4.6b | 7.1x | 10.1x | 3.3x |
| Tue, 28 Jun 2022 | R$45.9b | R$13.9b | R$4.5b | 6.5x | 10.2x | 3.3x |
| Thu, 26 May 2022 | R$50.1b | R$13.8b | R$4.5b | 9.4x | 11.1x | 3.6x |
| Sat, 23 Apr 2022 | R$50.6b | R$13.3b | R$4.5b | 8.9x | 11.3x | 3.8x |
| Mon, 21 Mar 2022 | R$53.9b | R$13.8b | R$4.4b | 12.2x | 12.2x | 3.9x |
| Wed, 16 Feb 2022 | R$56.7b | R$11.8b | R$3.3b | 15.1x | 17.3x | 4.8x |
| Fri, 14 Jan 2022 | R$49.2b | R$11.7b | R$3.1b | 14.3x | 15.6x | 4.2x |
| Sun, 12 Dec 2021 | R$54.9b | R$11.7b | R$3.1b | 15.8x | 17.5x | 4.7x |
| Tue, 09 Nov 2021 | R$54.1b | R$11.2b | R$3.2b | 14.1x | 16.8x | 4.8x |
| Thu, 07 Oct 2021 | R$53.0b | R$11.1b | R$3.7b | 14.4x | 14.5x | 4.8x |
| Sat, 04 Sep 2021 | R$56.4b | R$11.2b | R$3.7b | 15.9x | 15.4x | 5.1x |
| Mon, 02 Aug 2021 | R$67.1b | R$11.2b | R$3.7b | 16.6x | 18.3x | 6x |
Price to Earnings Ratio
18.3x
Current Industry PE
- Investors are relatively neutral on the Brazilian Real Estate industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 14.3x.
- The 3-year average PS ratio of 3.7x is higher than the industry's current PS ratio of 3.2x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have declined 2.7% per year over the last three years.
- Meanwhile revenues for these companies have grown 9.0% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Brazilian Real Estate industry?
| BR Market | -1.37% | |
| Real Estate | -1.39% | |
| Real Estate | -2.05% | |
| Diversified Real Estate | 0% | |
| Real Estate Operating Companies | -2.03% | |
| Real Estate Development | -2.26% | |
| Real Estate Services | -2.69% | |
Industry PE
- Investors are most optimistic about the Real Estate Operating Companies industry, which is trading close to its 3-year average PE ratio of 15.3x.
- Analysts are expecting annual earnings growth of 14.9%, which is higher than its past year's earnings growth of 6.1% per year.
- Investors are most pessimistic about the Real Estate Development industry, which is trading below its 3-year average of 8.3x.
Forecasted Growth
- Analysts are most optimistic on the Real Estate Development industry, expecting annual earnings growth of 25% over the next 5 years.
- However this is lower than its past earnings growth rate of 48% per year.
- In contrast, the Real Estate Operating Companies industry is expected to see its earnings grow by 15% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| SCAR3 São Carlos Empreendimentos e Participações | R$23.40 | 5.8% +R$73.5m | -8.3% | PE4.8x | |
| JFEN3 João Fortes Engenharia | R$0.37 | 105.6% +R$46.8m | -89.2% | PS1.5x | |
| MDNE3 Moura Dubeux Engenharia | R$13.44 | 2.5% +R$27.6m | 27.2% | PE6.7x | |
| LAND3 Terra Santa Propriedades Agrícolas | R$14.51 | 1.8% +R$25.0m | -41.2% | PE41.7x | |
| FIEI3 Fica Empreendimentos Imobiliarios | R$12.00 | 9.1% +R$2.4m | -20.0% | PS10.3x |
