Helbor Empreendimentos S.A.

BOVESPA:HBOR3 Stock Report

Market Cap: R$233.5m

Helbor Empreendimentos Valuation

Is HBOR3 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of HBOR3 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HBOR3 (R$1.76) is trading below our estimate of fair value (R$15.91)

Significantly Below Fair Value: HBOR3 is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for HBOR3?

Key metric: As HBOR3 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for HBOR3. This is calculated by dividing HBOR3's market cap by their current earnings.
What is HBOR3's PE Ratio?
PE Ratio4.4x
EarningsR$53.35m
Market CapR$233.54m

Price to Earnings Ratio vs Peers

How does HBOR3's PE Ratio compare to its peers?

The above table shows the PE ratio for HBOR3 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average7.1x
MTRE3 Mitre Realty Empreendimentos e Participações
9.2x88.2%R$406.2m
MELK3 Melnick Desenvolvimento Imobiliário
8.9x54.0%R$752.6m
MDNE3 Moura Dubeux Engenharia
5.2x11.3%R$1.2b
LAVV3 Lavvi Empreendimentos Imobiliários
5.3x18.7%R$1.6b
HBOR3 Helbor Empreendimentos
4.4x76.9%R$233.5m

Price-To-Earnings vs Peers: HBOR3 is good value based on its Price-To-Earnings Ratio (4.4x) compared to the peer average (7.1x).


Price to Earnings Ratio vs Industry

How does HBOR3's PE Ratio compare vs other companies in the South American Real Estate Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
HBOR3 4.4xIndustry Avg. 8.8xNo. of Companies4PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HBOR3 is good value based on its Price-To-Earnings Ratio (4.4x) compared to the South American Real Estate industry average (8.8x).


Price to Earnings Ratio vs Fair Ratio

What is HBOR3's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HBOR3 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio4.4x
Fair PE Ratio15.7x

Price-To-Earnings vs Fair Ratio: HBOR3 is good value based on its Price-To-Earnings Ratio (4.4x) compared to the estimated Fair Price-To-Earnings Ratio (15.7x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst HBOR3 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentR$1.76
R$4.37
+148.1%
15.9%R$5.00R$3.40n/a3
Nov ’25R$1.80
R$4.37
+142.6%
15.9%R$5.00R$3.40n/a3
Oct ’25R$1.90
R$4.37
+129.8%
15.9%R$5.00R$3.40n/a3
Sep ’25R$2.07
R$4.37
+111.0%
15.9%R$5.00R$3.40n/a3
Aug ’25R$2.19
R$4.37
+99.4%
15.9%R$5.00R$3.40n/a3
Jul ’25R$2.04
R$4.37
+114.1%
15.9%R$5.00R$3.40n/a3
Jun ’25R$2.30
R$4.37
+89.9%
15.9%R$5.00R$3.40n/a3
May ’25R$2.74
R$4.37
+59.4%
15.9%R$5.00R$3.40n/a3
Apr ’25R$3.00
R$4.37
+45.6%
15.9%R$5.00R$3.40n/a3
Mar ’25R$3.04
R$4.23
+39.3%
20.8%R$5.00R$3.00n/a3
Feb ’25R$2.63
R$4.23
+61.0%
20.8%R$5.00R$3.00n/a3
Jan ’25R$3.53
R$4.23
+19.9%
20.8%R$5.00R$3.00n/a3
Dec ’24R$2.98
R$4.23
+42.1%
20.8%R$5.00R$3.00n/a3
Nov ’24R$2.44
R$4.23
+73.5%
20.8%R$5.00R$3.00R$1.803
Oct ’24R$2.65
R$4.23
+59.7%
20.8%R$5.00R$3.00R$1.903
Sep ’24R$3.07
R$4.23
+37.9%
20.8%R$5.00R$3.00R$2.073
Aug ’24R$3.85
R$3.60
-6.5%
27.6%R$5.00R$2.80R$2.193
Jul ’24R$3.63
R$3.60
-0.8%
27.6%R$5.00R$2.80R$2.043
Jun ’24R$3.11
R$3.60
+15.8%
27.6%R$5.00R$2.80R$2.303
May ’24R$2.34
R$3.60
+53.8%
27.6%R$5.00R$2.80R$2.743
Apr ’24R$2.04
R$3.60
+76.5%
27.6%R$5.00R$2.80R$3.003
Mar ’24R$1.89
R$3.60
+90.5%
27.6%R$5.00R$2.80R$3.043
Feb ’24R$2.29
R$5.00
+118.3%
32.7%R$7.00R$3.00R$2.633
Jan ’24R$2.04
R$5.33
+161.4%
31.9%R$7.00R$3.00R$3.533
Dec ’23R$2.28
R$5.33
+133.9%
31.9%R$7.00R$3.00R$2.983
Nov ’23R$2.99
R$5.33
+78.4%
31.9%R$7.00R$3.00R$2.443

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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