OTCPK:BRLP.F

Stock Analysis Report

Executive Summary

BR Malls Participações S.A. operates as a shopping mall company in Brazil.

Rewards

PE ratio (9.1x) is below the US market (18.4x)

Revenue is forecast to grow 6.59% per year

Revenue grew by 6.3% over the past year

Risk Analysis

Earnings are forecast to decline by an average of -9.8% per year for the next 3 years

Large one-off items impacting financial results



Snowflake Analysis

Excellent balance sheet and fair value.


Similar Companies

Share Price & News

How has BR Malls Participações's share price performed over time and what events caused price changes?


Latest Share Price and Events

Information is not available.


Market Performance


7 Day Return

0%

BRLP.F

1.8%

US Real Estate

1.1%

US Market


1 Year Return

n/a

BRLP.F

19.5%

US Real Estate

17.8%

US Market

Return vs Industry: Insufficient data to determine how BRLP.F performed against the US Real Estate industry.

Return vs Market: Insufficient data to determine how BRLP.F performed against the US Market.


Shareholder returns

BRLP.FIndustryMarket
7 Day0%1.8%1.1%
30 Day0%4.0%1.4%
90 Day0%6.0%3.9%
1 Yearn/a20.5%19.5%20.3%17.8%
3 Yearn/a31.6%28.4%44.8%35.4%
5 Yearn/a18.4%14.5%71.3%52.4%

Price Volatility Vs. Market

How volatile is BR Malls Participações's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is BR Malls Participações undervalued compared to its fair value and its price relative to the market?

9.07x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BRLP.F ($3.98) is trading above our estimate of fair value ($3.04)

Significantly Below Fair Value: BRLP.F is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: BRLP.F is good value based on its PE Ratio (9.1x) compared to the Real Estate industry average (24.9x).

PE vs Market: BRLP.F is good value based on its PE Ratio (9.1x) compared to the US market (18.4x).


Price to Earnings Growth Ratio

PEG Ratio: BRLP.F's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: BRLP.F is good value based on its PB Ratio (1.2x) compared to the US Real Estate industry average (1.5x).


Next Steps

Future Growth

How is BR Malls Participações forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

-9.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BRLP.F's earnings are forecast to decline over the next 3 years (-9.8% per year).

Earnings vs Market: BRLP.F's earnings are forecast to decline over the next 3 years (-9.8% per year).

High Growth Earnings: BRLP.F's earnings are forecast to decline over the next 3 years.

Revenue vs Market: BRLP.F's revenue (6.6% per year) is forecast to grow slower than the US market (7.4% per year).

High Growth Revenue: BRLP.F's revenue (6.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BRLP.F's Return on Equity is forecast to be low in 3 years time (6%).


Next Steps

Past Performance

How has BR Malls Participações performed over the past 5 years?

-6.5%

Historical annual earnings growth


Earnings and Revenue History

Information is not available.

Information is not available.


Past Earnings Growth Analysis

Earnings Trend: BRLP.F's earnings have declined by -6.5% per year over the past 5 years.

Accelerating Growth: BRLP.F has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: BRLP.F has become profitable in the last year, making it difficult to compare its past year earnings growth to the Real Estate industry (-25%).


Return on Equity

High ROE: BRLP.F's Return on Equity (13.1%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is BR Malls Participações's financial position?


Financial Position Analysis

Short Term Liabilities: BRLP.F's short term assets (R$1.3B) exceed its short term liabilities (R$488.1M).

Long Term Liabilities: BRLP.F's short term assets (R$1.3B) do not cover its long term liabilities (R$6.7B).


Debt to Equity History and Analysis

Debt Level: BRLP.F's debt to equity ratio (24%) is considered satisfactory.

Reducing Debt: BRLP.F's debt to equity ratio has reduced from 49.8% to 24% over the past 5 years.

Debt Coverage: BRLP.F's debt is well covered by operating cash flow (27.4%).

Interest Coverage: BRLP.F's interest payments on its debt are well covered by EBIT (4.2x coverage).


Balance Sheet

Inventory Level: BRLP.F has a high level of physical assets or inventory.

Debt Coverage by Assets: BRLP.F's debt is not covered by short term assets (assets are 0.5x debt).


Next Steps

Dividend

What is BR Malls Participações's current dividend yield, its reliability and sustainability?

3.73%

Forecast Dividend Yield


Dividend Yield vs Market

company0%marketbottom25%1.4%markettop25%3.7%industryaverage2.1%forecastin3Years3.7%

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate BRLP.F's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate BRLP.F's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if BRLP.F's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if BRLP.F's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: BRLP.F is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of BRLP.F's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of BR Malls Participações's salary, the management and board of directors tenure and is there insider trading?

2.4yrs

Average management tenure


CEO

Ruy Kameyama (42yo)

2.4yrs

Tenure

0

Mr. Ruy Kameyama has been the Chief Executive Officer at BR Malls Participações S.A. since February 5, 2017 and has been its Member of Board of Executive Officers since January 1, 2009. Mr. Kameyama served ...


Management Age and Tenure

2.4yrs

Average Tenure

40.5yo

Average Age

Experienced Management: BRLP.F's management team is considered experienced (2.4 years average tenure).


Board Age and Tenure

1.5yrs

Average Tenure

63.5yo

Average Age

Experienced Board: BRLP.F's board of directors are not considered experienced ( 1.5 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Information is not available.


Management Team

  • Ruy Kameyama (42yo)

    Chief Executive Officer

    • Tenure: 2.4yrs
  • Frederico da Villa

    IR Director & CFO

    • Tenure: 5.5yrs
  • Claudia Da Rosa Cortes De Larcerda

    Law Director & Member of Board of Executive Officers

    • Tenure: 6.5yrs
  • Bianca Bastos (41yo)

    Human Resources Director & Member of Board of Executive Officers

    • Tenure: 2.4yrs
  • José Avellar (40yo)

    Operations Director

    • Tenure: 2.4yrs
  • Mariane Grechinski (38yo)

    Development Director & Member of Board of Executive Officers

    • Tenure: 0yrs

Board Members

  • Mauro Rodrigues da Cunha (48yo)

    Independent Director

    • Tenure: 3.5yrs
  • José Alves Castanheira (73yo)

    Independent Chairman

    • Tenure: 1.5yrs
  • Luiz Quinta (60yo)

    Director

    • Tenure: 7.5yrs
  • Bruno Hermes Da Rudge

    Independent Director

    • Tenure: 2yrs
  • Silvio Genesini Junior (67yo)

    Independent director

    • Tenure: 0.9yrs
  • Joaé Roberto Teixeira

    Independent Director

    • Tenure: 2yrs
  • Luiz de Sampaio Campos

    Independent director

    • Tenure: 1.5yrs
  • Ana Maria Dantas

    Member of Fiscal Council

    • Tenure: 0.5yrs
  • Helena Turola de Penna

    Member of the Fiscal Council

    • Tenure: 0.5yrs
  • Ilton Schwaab

    Member of Fiscal Council

    • Tenure: 0.5yrs

Company Information

BR Malls Participações S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: BR Malls Participações S.A.
  • Ticker: BRLP.F
  • Exchange: OTCPK
  • Founded: 1949
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: R$12.756b
  • Listing Market Cap: R$3.184b
  • Shares outstanding: 843.12m
  • Website: https://www.brmalls.com.br

Number of Employees


Location

  • BR Malls Participações S.A.
  • Av. Borges de Medeiros, 633
  • 1° andar
  • Rio de Janeiro
  • Rio de Janeiro
  • 22430-041
  • Brazil

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BRML3BOVESPA (Bolsa de Valores de Sao Paulo)YesCommon SharesBRBRLApr 2007
BRLP.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDApr 2007
BRMS.YOTCPK (Pink Sheets LLC)SPONSORED ADRUSUSDDec 2008

Biography

BR Malls Participações S.A. operates as a shopping mall company in Brazil. It also manages parking lot operation. As of March 16, 2018, it owned a portfolio of 39 malls comprising 1,445.5 thousand square m ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/28 00:54
End of Day Share Price2019/07/30 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.