OTCPK:FBAS.F

Stock Analysis Report

Executive Summary

Trust FIBRA UNO (“Fibra UNO”) was established as a real estate investment trust (Mexican REIT) on January 12, 2011 by Fibra UNO Administración, SA de CV, (the “Trustor”) and Deutsche Bank México, SA, Institución de Banca Múltiple, División Fiduciaria y Subsidiarias (“Deutsche Bank México”) as Trustee Institution.

Rewards

Trading at 36% below its fair value

Earnings grew by 58% over the past year

Risk Analysis

Earnings are forecast to decline by an average of -17% per year for the next 3 years

Dividend of 7.58% is not well covered by earnings

Large one-off items impacting financial results



Snowflake Analysis

Undervalued with proven track record.


Similar Companies

Share Price & News

How has Fibra UNO's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FBAS.F has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0.7%

FBAS.F

1.0%

US REITs

0.7%

US Market


1 Year Return

42.4%

FBAS.F

13.0%

US REITs

18.2%

US Market

Return vs Industry: FBAS.F exceeded the US REITs industry which returned 13% over the past year.

Return vs Market: FBAS.F exceeded the US Market which returned 18.2% over the past year.


Shareholder returns

FBAS.FIndustryMarket
7 Day0.7%1.0%0.7%
30 Day-0.7%1.7%1.5%
90 Day2.9%0.8%5.0%
1 Year42.4%42.4%17.8%13.0%20.8%18.2%
3 Year-8.3%-8.3%34.3%17.5%45.2%35.8%
5 Year-46.5%-46.5%58.3%25.6%71.6%52.7%

Price Volatility Vs. Market

How volatile is Fibra UNO's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Fibra UNO undervalued compared to its fair value and its price relative to the market?

36.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FBAS.F ($1.47) is trading below our estimate of fair value ($2.29)

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


Price To Earnings Ratio

PE vs Industry: FBAS.F is good value based on its PE Ratio (6.1x) compared to the REITs industry average (38.8x).

PE vs Market: FBAS.F is good value based on its PE Ratio (6.1x) compared to the US market (18.5x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: FBAS.F is good value based on its PB Ratio (0.7x) compared to the US REITs industry average (2x).


Next Steps

Future Growth

How is Fibra UNO forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

-17.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FBAS.F's earnings are forecast to decline over the next 3 years (-17% per year).

Earnings vs Market: FBAS.F's earnings are forecast to decline over the next 3 years (-17% per year).

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

Revenue vs Market: FBAS.F's revenue (5.7% per year) is forecast to grow slower than the US market (7.4% per year).

High Growth Revenue: FBAS.F's revenue (5.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FBAS.F's Return on Equity is forecast to be low in 3 years time (6.8%).


Next Steps

Past Performance

How has Fibra UNO performed over the past 5 years?

22.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FBAS.F has a large one-off gain of MX$13.0B impacting its September 30 2019 financial results.

Growing Profit Margin: FBAS.F's current net profit margins are higher than last year (72.3%).


Past Earnings Growth Analysis

Earnings Trend: FBAS.F's earnings have grown significantly by 22.5% per year over the past 5 years.

Accelerating Growth: FBAS.F's earnings growth over the past year (58%) exceeds its 5-year average (22.5% per year).

Earnings vs Industry: FBAS.F earnings growth over the past year (58%) exceeded the REITs industry 8.3%.


Return on Equity

High ROE: FBAS.F's Return on Equity (11.5%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Fibra UNO's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

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

Debt Coverage by Assets: FBAS.F's debt is not covered by short term assets (assets are 0.2x debt).


Financial Institutions Analysis

Asset Level: FBAS.F's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if FBAS.F has a sufficient allowance for bad loans.

Low Risk Liabilities: FBAS.F reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if FBAS.F has an acceptable proportion of non-loan assets held.

Low Risk Deposits: FBAS.F has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if FBAS.F has an appropriate level of bad loans.


Next Steps

Dividend

What is Fibra UNO's current dividend yield, its reliability and sustainability?

7.58%

Current Dividend Yield


Dividend Yield vs Market

company7.6%marketbottom25%1.4%markettop25%3.7%industryaverage3.7%forecastin3Years8.6%

Current dividend yield vs market & industry

Notable Dividend: FBAS.F's dividend (7.58%) is higher than the bottom 25% of dividend payers in the US market (1.43%).

High Dividend: FBAS.F's dividend (7.58%) is in the top 25% of dividend payers in the US market (3.7%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, FBAS.F has been paying a dividend for less than 10 years.

Growing Dividend: FBAS.F's dividend payments have increased, but the company has only paid a dividend for 8 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (3944.6%), FBAS.F's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FBAS.F's dividends in 3 years are forecast to be thoroughly covered by earnings (0.02% payout ratio).


Next Steps

Management

What is the CEO of Fibra UNO's salary, the management and board of directors tenure and is there insider trading?

8.9yrs

Average board tenure


CEO

André El-Mann Arazi (54yo)

0yrs

Tenure

0

Mr. André El-Mann Arazi serves as Chief Executive Officer and Director of Fibra UNO. Mr. El-Mann Arazi has more than 35 years of experience in the real estate sector. He is co-founder of E-Group. Has exten ...


Board Age and Tenure

8.9yrs

Average Tenure

68.5yo

Average Age

Experienced Board: FBAS.F's board of directors are considered experienced (8.9 years average tenure).


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

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Fernando Álvarez Toca (45yo)

    Vice President of Finance

    • Tenure: 0yrs
  • André El-Mann Arazi (54yo)

    CEO & Director

    • Tenure: 0yrs
  • Gonzalo Pedro Robina Ibarra (56yo)

    Deputy Chief Executive Officer

    • Tenure: 0yrs
  • Javier Elizalde Vélez (46yo)

    • Tenure: 0yrs
  • Isidoro Attié Laniado (49yo)

    Vice Chairman and Executive VP of Strategy & Finance

    • Tenure: 0yrs
  • Ignacio Tortoriello Tortoriello (62yo)

    Vice President of IT & Administration

    • Tenure: 0yrs
  • Alfonso Arceo Oregón (47yo)

    Vice President of Operations

    • Tenure: 0yrs
  • Alejandro Chico Pizarro (44yo)

    Vice President of Legal Affairs

    • Tenure: 0yrs
  • Jorge Humberto Pigeon Solórzano (50yo)

    Vice President of Capital Markets & Investor Relations

    • Tenure: 6.9yrs

Board Members

  • Herminio Alonso Blanco Mendoza (69yo)

    Independent Director

    • Tenure: 8.9yrs
  • André El-Mann Arazi (54yo)

    CEO & Director

    • Tenure: 0yrs
  • Isidoro Attié Laniado (49yo)

    Vice Chairman and Executive VP of Strategy & Finance

    • Tenure: 0yrs
  • Moisés El- Mann Arazi (65yo)

    President of the Board

    • Tenure: 0yrs
  • Max El-Mann Arazi (59yo)

    Director

    • Tenure: 8.9yrs
  • Elías Sacal Micha (69yo)

    Director

    • Tenure: 8.9yrs
  • Abude Attié Dayán (76yo)

    Director

    • Tenure: 8.9yrs
  • Jaime Kababie Sacal (69yo)

    Director

    • Tenure: 8.9yrs
  • Ignacio Trigueros Legarreta (68yo)

    Independent Director

    • Tenure: 8.9yrs
  • Rubén Goldberg Javkin (70yo)

    Independent Director

    • Tenure: 8.9yrs

Company Information

Fibra UNO's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Fibra UNO
  • Ticker: FBAS.F
  • Exchange: OTCPK
  • Founded: 2010
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Market Cap: Mex$114.286b
  • Listing Market Cap: Mex$5.946b
  • Shares outstanding: 3.94b
  • Website: https://en.fibra-uno.com

Number of Employees


Location

  • Fibra UNO
  • Antonio Dovali Jaime No. 70
  • 11th Floor Tower B, Santa Fe
  • Mexico City
  • Distrito Federal
  • 1210
  • Mexico

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FUNO 11BMV (Bolsa Mexicana de Valores)YesCBFI CertificatesMXMXNMar 2011
FBAS.FOTCPK (Pink Sheets LLC)YesCBFI CertificatesUSUSDMar 2011

Biography

Trust FIBRA UNO (“Fibra UNO”) was established as a real estate investment trust (Mexican REIT) on January 12, 2011 by Fibra UNO Administración, SA de CV, (the “Trustor”) and Deutsche Bank México, SA, Insti ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/10 00:40
End of Day Share Price2019/12/09 00:00
Earnings2019/09/30
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.