We’ve recently updated our valuation analysis.

BR Properties Valuation

Is BRPR3 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BRPR3?

Other financial metrics that can be useful for relative valuation.

BRPR3 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue4x
Enterprise Value/EBITDA15.8x
PEG Ration/a

Price to Sales Ratio vs Peers

How does BRPR3's PS Ratio compare to its peers?

The above table shows the PS ratio for BRPR3 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average4.1x
IGTI3 Iguatemi
3.1x10.3%R$3.3b
ALSO3 Aliansce Sonae Shopping Centers
4.1x30.3%R$4.7b
LOGG3 LOG Commercial Properties e Participações
7.7x22.1%R$1.6b
JHSF3 JHSF Participações
1.6x20.3%R$3.2b
BRPR3 BR Properties
8.5x-28.6%R$2.9b

Price-To-Sales vs Peers: BRPR3 is expensive based on its Price-To-Sales Ratio (8.5x) compared to the peer average (4.1x).


Price to Earnings Ratio vs Industry

How does BRPR3's PE Ratio compare vs other companies in the BR Real Estate Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a25.7%
n/an/an/a

Price-To-Sales vs Industry: BRPR3 is expensive based on its Price-To-Sales Ratio (8.5x) compared to the South American Real Estate industry average (4.5x)


Price to Sales Ratio vs Fair Ratio

What is BRPR3's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BRPR3 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio8.5x
Fair PS Ratio3.1x

Price-To-Sales vs Fair Ratio: BRPR3 is expensive based on its Price-To-Sales Ratio (8.5x) compared to the estimated Fair Price-To-Sales Ratio (3.1x).


Share Price vs Fair Value

What is the Fair Price of BRPR3 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BRPR3 (R$6.33) is trading below our estimate of fair value (R$162.2)

Significantly Below Fair Value: BRPR3 is trading below fair value by more than 20%.


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 BRPR3 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentR$6.33
R$8.32
+31.5%
19.8%R$12.00R$6.58n/a8
Jan ’24R$6.53
R$8.51
+30.3%
19.1%R$12.00R$6.58n/a8
Dec ’23R$6.00
R$8.51
+41.8%
19.1%R$12.00R$6.58n/a8
Nov ’23R$6.27
R$8.33
+32.8%
23.5%R$12.00R$6.38n/a6
Oct ’23R$8.31
R$10.25
+23.3%
12.7%R$12.00R$9.00n/a4
Sep ’23R$8.26
R$10.25
+24.1%
12.7%R$12.00R$9.00n/a4
Aug ’23R$8.42
R$10.29
+22.2%
23.7%R$15.00R$7.00n/a7
Jul ’23R$8.85
R$10.17
+14.9%
23.7%R$15.00R$7.00n/a7
Jun ’23R$8.66
R$10.24
+18.3%
24.2%R$15.00R$7.00n/a7
May ’23R$8.93
R$10.31
+15.5%
23.1%R$15.00R$7.50n/a7
Apr ’23R$9.09
R$10.43
+14.8%
21.3%R$15.00R$7.50n/a8
Mar ’23R$7.55
R$10.43
+38.2%
21.3%R$15.00R$7.50n/a8
Feb ’23R$7.13
R$10.49
+47.2%
20.5%R$15.00R$8.00n/a8
Jan ’23R$7.31
R$11.09
+51.8%
18.9%R$15.00R$8.00R$6.538
Dec ’22R$6.93
R$11.09
+60.1%
18.9%R$15.00R$8.00R$6.008
Nov ’22R$7.46
R$11.28
+51.2%
16.5%R$15.00R$9.25R$6.278
Oct ’22R$8.07
R$11.28
+39.8%
16.5%R$15.00R$9.25R$8.318
Sep ’22R$8.40
R$11.46
+36.5%
15.1%R$15.00R$9.50R$8.268
Aug ’22R$8.64
R$11.53
+33.4%
14.4%R$15.00R$10.00R$8.427
Jul ’22R$9.00
R$12.07
+34.1%
20.1%R$16.60R$10.00R$8.857
Jun ’22R$9.47
R$12.07
+27.5%
20.1%R$16.60R$10.00R$8.667
May ’22R$8.97
R$12.29
+37.0%
19.5%R$16.60R$10.00R$8.937
Apr ’22R$8.55
R$12.43
+45.4%
18.8%R$16.60R$10.00R$9.097
Mar ’22R$7.93
R$12.38
+56.1%
17.7%R$16.60R$10.00R$7.558
Feb ’22R$8.94
R$12.50
+39.8%
17.8%R$16.60R$10.00R$7.138
Jan ’22R$9.90
R$12.95
+30.8%
16.5%R$16.60R$10.00R$7.318

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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