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Iguatemi Empresa de Shopping Centers

OTCPK:IGUE.F
Snowflake Description

Solid track record average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IGUE.F
OTCPK
R$7B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Iguatemi Empresa de Shopping Centers S.A. The last earnings update was 56 days ago. More info.


Add to Portfolio Compare Print
IGUE.F Share Price and Events
7 Day Returns
0%
OTCPK:IGUE.F
-0.7%
US Real Estate
-0.1%
US Market
1 Year Returns
-
OTCPK:IGUE.F
-11.1%
US Real Estate
7.6%
US Market
IGUE.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Iguatemi Empresa de Shopping Centers (IGUE.F) 0% 0% 0% - 63.6% -
US Real Estate -0.7% 4.3% 9.8% -11.1% 22.5% 14.6%
US Market -0.1% 3.7% 10.2% 7.6% 38.1% 46.4%
1 Year Return vs Industry and Market
  • No trading data on IGUE.F.
  • No trading data on IGUE.F.
Price Volatility
IGUE.F
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Iguatemi Empresa de Shopping Centers's competitors could be found in our database.

Value

 Is Iguatemi Empresa de Shopping Centers undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Iguatemi Empresa de Shopping Centers to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Iguatemi Empresa de Shopping Centers.

OTCPK:IGUE.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 12 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:IGUE.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.23
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.234 (1 + (1- 34%) (33.61%))
1.34
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.34
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.34 * 5.96%)
10.72%

Discounted Cash Flow Calculation for OTCPK:IGUE.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Iguatemi Empresa de Shopping Centers is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

OTCPK:IGUE.F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (BRL, Millions) Source Present Value
Discounted (@ 10.72%)
2019 188.00 Analyst x1 169.80
2020 329.00 Analyst x2 268.39
2021 458.00 Analyst x1 337.46
2022 538.54 Est @ 17.59% 358.40
2023 609.25 Est @ 13.13% 366.21
2024 670.23 Est @ 10.01% 363.87
2025 722.68 Est @ 7.83% 354.37
2026 768.19 Est @ 6.3% 340.23
2027 808.34 Est @ 5.23% 323.36
2028 844.53 Est @ 4.48% 305.14
Present value of next 10 years cash flows R$3,187.24
OTCPK:IGUE.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= R$844.53 × (1 + 2.73%) ÷ (10.72% – 2.73%)
R$10,863.15
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= R$10,863.15 ÷ (1 + 10.72%)10
R$3,924.92
OTCPK:IGUE.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= R$3,187.24 + R$3,924.92
R$7,112.16
Equity Value per Share
(BRL)
= Total value / Shares Outstanding
= R$7,112.16 / 176.30
R$40.34
OTCPK:IGUE.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:IGUE.F represents 0.29316x of BOVESPA:IGTA3
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.29316x
Value per Share
(Listing Adjusted, USD)
= Value per Share (BRL) x Listing Adjustment Factor
= R$ 40.34 x 0.29316
$11.83
Value per share (USD) From above. $11.83
Current discount Discount to share price of $11.09
= -1 x ($11.09 - $11.83) / $11.83
6.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Iguatemi Empresa de Shopping Centers is available for.
Intrinsic value
6%
Share price is $11.09 vs Future cash flow value of $11.83
Current Discount Checks
For Iguatemi Empresa de Shopping Centers to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Iguatemi Empresa de Shopping Centers's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Iguatemi Empresa de Shopping Centers's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Iguatemi Empresa de Shopping Centers's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Iguatemi Empresa de Shopping Centers's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:IGUE.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in BRL R$1.45
BOVESPA:IGTA3 Share Price ** BOVESPA (2019-01-24) in BRL R$37.83
United States of America Real Estate Industry PE Ratio Median Figure of 28 Publicly-Listed Real Estate Companies 16.82x
United States of America Market PE Ratio Median Figure of 3,080 Publicly-Listed Companies 18.03x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Iguatemi Empresa de Shopping Centers.

OTCPK:IGUE.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BOVESPA:IGTA3 Share Price ÷ EPS (both in BRL)

= 37.83 ÷ 1.45

26.03x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Iguatemi Empresa de Shopping Centers is overvalued based on earnings compared to the US Real Estate industry average.
  • Iguatemi Empresa de Shopping Centers is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Iguatemi Empresa de Shopping Centers's expected growth come at a high price?
Raw Data
OTCPK:IGUE.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 26.03x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
12.2%per year
United States of America Real Estate Industry PEG Ratio Median Figure of 12 Publicly-Listed Real Estate Companies 1.7x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.55x

*Line of best fit is calculated by linear regression .

OTCPK:IGUE.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 26.03x ÷ 12.2%

2.13x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Iguatemi Empresa de Shopping Centers is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Iguatemi Empresa de Shopping Centers's assets?
Raw Data
OTCPK:IGUE.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in BRL R$16.08
BOVESPA:IGTA3 Share Price * BOVESPA (2019-01-24) in BRL R$37.83
United States of America Real Estate Industry PB Ratio Median Figure of 54 Publicly-Listed Real Estate Companies 1.53x
United States of America Market PB Ratio Median Figure of 5,185 Publicly-Listed Companies 1.92x
OTCPK:IGUE.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BOVESPA:IGTA3 Share Price ÷ Book Value per Share (both in BRL)

= 37.83 ÷ 16.08

2.35x

* Primary Listing of Iguatemi Empresa de Shopping Centers.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Iguatemi Empresa de Shopping Centers is overvalued based on assets compared to the US Real Estate industry average.
X
Value checks
We assess Iguatemi Empresa de Shopping Centers's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Real Estate industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Real Estate industry average (and greater than 0)? (1 check)
  5. Iguatemi Empresa de Shopping Centers has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Iguatemi Empresa de Shopping Centers expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
12.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Iguatemi Empresa de Shopping Centers expected to grow at an attractive rate?
  • Iguatemi Empresa de Shopping Centers's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Iguatemi Empresa de Shopping Centers's earnings growth is positive but not above the United States of America market average.
  • Iguatemi Empresa de Shopping Centers's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:IGUE.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:IGUE.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 12.2%
OTCPK:IGUE.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 7.2%
United States of America Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 10.4%
United States of America Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 9.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.5%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:IGUE.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in BRL Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:IGUE.F Future Estimates Data
Date (Data in BRL Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 894 644 383 6
2020-12-31 835 512 323 10
2019-12-31 770 496 287 9
OTCPK:IGUE.F Past Financials Data
Date (Data in BRL Millions) Revenue Cash Flow Net Income *
2018-12-31 723 408 256
2018-09-30 708 394 244
2018-06-30 700 329 232
2018-03-31 694 366 223
2017-12-31 693 345 218
2017-09-30 691 401 202
2017-06-30 683 472 189
2017-03-31 676 445 173
2016-12-31 669 359 162
2016-09-30 657 319 154
2016-06-30 655 317 172
2016-03-31 649 305 185

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Iguatemi Empresa de Shopping Centers's earnings are expected to grow by 12.2% yearly, however this is not considered high growth (20% yearly).
  • Iguatemi Empresa de Shopping Centers's revenue is expected to grow by 7.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:IGUE.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from Iguatemi Empresa de Shopping Centers Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:IGUE.F Future Estimates Data
Date (Data in BRL Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 2.11 2.21 2.00 3.00
2020-12-31 1.92 2.62 1.67 7.00
2019-12-31 1.62 1.73 1.53 5.00
OTCPK:IGUE.F Past Financials Data
Date (Data in BRL Millions) EPS *
2018-12-31 1.45
2018-09-30 1.39
2018-06-30 1.32
2018-03-31 1.26
2017-12-31 1.24
2017-09-30 1.14
2017-06-30 1.07
2017-03-31 0.98
2016-12-31 0.92
2016-09-30 0.87
2016-06-30 0.97
2016-03-31 1.05

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Iguatemi Empresa de Shopping Centers is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Iguatemi Empresa de Shopping Centers's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Iguatemi Empresa de Shopping Centers has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Iguatemi Empresa de Shopping Centers performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Iguatemi Empresa de Shopping Centers's growth in the last year to its industry (Real Estate).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Iguatemi Empresa de Shopping Centers's year on year earnings growth rate has been positive over the past 5 years.
  • Iguatemi Empresa de Shopping Centers's 1-year earnings growth exceeds its 5-year average (17.5% vs 2.5%)
  • Iguatemi Empresa de Shopping Centers's earnings growth has exceeded the US Real Estate industry average in the past year (17.5% vs -13.3%).
Earnings and Revenue History
Iguatemi Empresa de Shopping Centers's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Iguatemi Empresa de Shopping Centers Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:IGUE.F Past Revenue, Cash Flow and Net Income Data
Date (Data in BRL Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 722.65 256.36 92.36
2018-09-30 707.88 244.36 84.70
2018-06-30 700.03 232.29 79.87
2018-03-31 694.45 223.05 76.17
2017-12-31 693.35 218.16 72.07
2017-09-30 691.34 201.69 66.97
2017-06-30 682.71 189.33 66.22
2017-03-31 676.03 173.38 68.42
2016-12-31 669.09 161.58 73.06
2016-09-30 657.21 154.17 67.53
2016-06-30 655.44 171.97 72.98
2016-03-31 648.96 184.79 73.74
2015-12-31 637.03 191.09 81.78
2015-09-30 631.45 214.44 85.70
2015-06-30 619.79 223.17 88.25
2015-03-31 607.03 225.57 91.85
2014-12-31 584.49 229.25 93.20
2014-09-30 552.38 220.96 106.05
2014-06-30 512.62 199.43 108.10
2014-03-31 471.46 185.50 105.23
2013-12-31 443.19 184.63 93.40
2013-09-30 419.98 181.16 95.38
2013-06-30 409.00 265.04 97.40
2013-03-31 397.21 283.37 91.98
2012-12-31 385.59 268.25 80.48
2012-09-30 369.62 261.92 79.66
2012-06-30 357.19 163.71 75.32

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Iguatemi Empresa de Shopping Centers has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Iguatemi Empresa de Shopping Centers used its assets more efficiently than the US Real Estate industry average last year based on Return on Assets.
  • Iguatemi Empresa de Shopping Centers has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Iguatemi Empresa de Shopping Centers's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Real Estate industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Iguatemi Empresa de Shopping Centers has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Iguatemi Empresa de Shopping Centers's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Iguatemi Empresa de Shopping Centers's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Iguatemi Empresa de Shopping Centers's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Iguatemi Empresa de Shopping Centers's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Iguatemi Empresa de Shopping Centers's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Iguatemi Empresa de Shopping Centers Company Filings, last reported 3 months ago.

OTCPK:IGUE.F Past Debt and Equity Data
Date (Data in BRL Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,846.33 2,241.32 24.20
2018-09-30 2,827.83 2,214.72 563.07
2018-06-30 2,790.18 2,226.25 595.36
2018-03-31 2,807.11 1,958.23 337.49
2017-12-31 2,752.54 2,139.29 50.82
2017-09-30 2,797.92 2,236.06 524.71
2017-06-30 2,750.48 2,015.76 323.90
2017-03-31 2,776.98 2,014.48 330.41
2016-12-31 2,741.54 2,240.05 523.86
2016-09-30 2,732.70 2,243.59 403.63
2016-06-30 2,689.34 2,028.31 263.56
2016-03-31 2,672.33 2,025.80 255.41
2015-12-31 2,633.98 2,083.20 358.45
2015-09-30 2,636.92 2,038.06 394.14
2015-06-30 2,577.99 1,868.76 350.09
2015-03-31 2,541.19 1,857.13 393.52
2014-12-31 2,493.81 2,076.37 639.08
2014-09-30 2,480.87 2,061.36 682.06
2014-06-30 2,402.23 1,872.40 560.43
2014-03-31 2,365.19 1,932.58 942.70
2013-12-31 2,317.53 1,972.84 1,057.15
2013-09-30 2,306.67 1,896.85 1,280.71
2013-06-30 2,226.54 1,761.37 1,261.99
2013-03-31 1,827.32 1,915.91 1,281.91
2012-12-31 1,777.50 1,497.71 929.74
2012-09-30 1,780.34 1,359.86 857.07
2012-06-30 1,642.01 1,375.49 784.84
  • Iguatemi Empresa de Shopping Centers's level of debt (78.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (85.1% vs 78.7% today).
  • Debt is not well covered by operating cash flow (18.2%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.3x coverage).
X
Financial health checks
We assess Iguatemi Empresa de Shopping Centers's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Iguatemi Empresa de Shopping Centers has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Iguatemi Empresa de Shopping Centers's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.25%
Current annual income from Iguatemi Empresa de Shopping Centers dividends. Estimated to be 2.61% next year.
If you bought $2,000 of Iguatemi Empresa de Shopping Centers shares you are expected to receive $45 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Iguatemi Empresa de Shopping Centers's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
  • Iguatemi Empresa de Shopping Centers's dividend is below the markets top 25% of dividend payers in United States of America (3.64%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:IGUE.F Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
United States of America Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 18 Stocks 2.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:IGUE.F Future Dividends Estimate Data
Date (Data in R$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.27 7.00
2020-12-31 1.03 11.00
2019-12-31 0.77 11.00
OTCPK:IGUE.F Past Annualized Dividends Data
Date (Data in R$) Dividend per share (annual) Avg. Yield (%)
2019-02-27 0.850 2.160
2018-02-27 0.680 1.921
2017-05-09 0.680 1.832
2017-02-21 0.680 2.080
2016-03-09 0.340 1.217
2016-03-08 0.340 1.390
2015-08-10 0.340 1.632
2015-03-18 0.340 1.290
2014-03-11 0.248 1.034
2014-03-10 0.248 1.174
2013-03-19 0.400 1.723
2010-05-11 0.315 1.762
2010-03-11 0.316 2.141
2009-10-23 0.386 2.636
2009-04-27 0.386 3.618

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Iguatemi Empresa de Shopping Centers's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.6x coverage).
X
Income/ dividend checks
We assess Iguatemi Empresa de Shopping Centers's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Iguatemi Empresa de Shopping Centers afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Iguatemi Empresa de Shopping Centers has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Iguatemi Empresa de Shopping Centers's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Carlos Jereissati
AGE 46
TENURE AS CEO 14.3 years
CEO Bio

Mr. Carlos Jereissati serves as CEO, New Business Officer, Member of Board of Executive Officers and Director at Iguatemi Empresa de Shopping Centers S.A. He served as Member of Fiscal Council at Iguatemi Empresa de Shopping Centers SA since May 2018. Mr. Jereissati served as Chief Executive Officer at Jereissati Participações S.A. since March 23, 2016. Mr. Jereissati served as Deputy Chief Executive Officer at Jereissati Participações S.A. since March 25, 2014. He presides over the management team of the shopping center administration company Iguatemi Empresa de Shopping Centers SA, where he has worked since 1996. He joined the Jereissati Group in 1994 and since that date has occupied the following positions: Marketing Officer, General Manager of Praia de Belas, Operations Officer of the southern region and Superintendent Officer. He has been First Vice President and VP Director at Jereissati Participações S.A. since April 30, 2015 and served as its Deputy Chairman from April 2013 to April 30, 2015. From 2002 to 2004 and 2005 to 2006, he served as the President and Vice-President of the Brazilian Association of Shopping Centers (ABRASCE), where he serves as a Member of the Advisory Board. He has been a Director of Iguatemi Empresa de Shopping Centers SA since January 2007. He serves as a Member of the board of directors of TmarPart, La Fonte Telecom S.A., and CTX Participações S.A. He serves as a First Vice President of the Board of Directors at Jereissati Participações S.A. He served as a Director at Oi S.A. since April 2014. He has been a Member of the Brazil Volunteer Association (Associação Brasil Voluntário) since 1995 and the International Council of Shopping Centers (ICSC) since 1994. He was a Member of the Brazilian Economic and Social Development Council (Conselho de Desenvolvimento Econômico e Social). In 2007, he was named a “Young Global Leader” by the World Economic Forum. He attended the Spring Convention of the International Council of Shopping Centers and Real Estate Finance and Investment from Euromoney Training. Mr. Jereissati holds a Bachelor’s in business administration from FGV in São Paulo and Management for Success at the University of Michigan Business School.

CEO Compensation
  • Insufficient data for Carlos to compare compensation growth.
  • Insufficient data for Carlos to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Iguatemi Empresa de Shopping Centers management team in years:

14.3
Average Tenure
48
Average Age
  • The average tenure for the Iguatemi Empresa de Shopping Centers management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Carlos Jereissati

TITLE
CEO, New Business Officer
AGE
46
TENURE
14.3 yrs

Cristina Betts

TITLE
CFO, Investor Relations Director & Member of Board of Executive Officers
AGE
48
TENURE
11 yrs

Charles Krell

TITLE
COO & Member of Board of Executive Officers
AGE
57
TENURE
14.3 yrs

Dilene Rodrigues Teixeira

TITLE
Chief Legal Officer & Member of the Board of Executive Officers
AGE
52

Erika Jereissati Zullo

TITLE
Retail Leasing Officer & Member of the Board of Executive Officers
AGE
47
Board of Directors Tenure

Average tenure and age of the Iguatemi Empresa de Shopping Centers board of directors in years:

1.9
Average Tenure
52.5
Average Age
  • The average tenure for the Iguatemi Empresa de Shopping Centers board of directors is less than 3 years, this suggests a new board.
Board of Directors

Carlos Ribeiro Jereissati

TITLE
Chairman of the Board
AGE
72
TENURE
12.4 yrs

Carlos Jereissati

TITLE
CEO, New Business Officer
AGE
46
TENURE
0.9 yrs

Sidnei Nunes

TITLE
Director
AGE
59
TENURE
12.4 yrs

Pedro Jereissati

TITLE
Director
AGE
40
TENURE
2.2 yrs

Pedro Ripper

TITLE
Independent Director
AGE
44
TENURE
1 yrs

José Castro Rudge

TITLE
Independent Director
TENURE
1 yrs

Bernardo Parnes

TITLE
Independent Director
TENURE
0.8 yrs

Jorge Dib Filho

TITLE
Member of Fiscal Council

Roberto Terziani

TITLE
Member of Fiscal Council
TENURE
1.9 yrs

José da Gama Figueira

TITLE
Member of Fiscal Council
AGE
70
TENURE
1.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Iguatemi Empresa de Shopping Centers's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Iguatemi Empresa de Shopping Centers has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Iguatemi Empresa de Shopping Centers S.A. engages in the commercial exploration and planning of shopping malls in Brazil. It is also involved in the rendering services of management of shopping malls and mixed-use real estate complexes; purchase and sale of property; exploration of short-stay parking lots; intermediation in the leasing of promotional spaces; and preparation of studies and projects, as well as planning in promotion and merchandising. The company was founded in 1979 and is headquartered in São Paulo, Brazil. Iguatemi Empresa de Shopping Centers S.A. is a subsidiary of Jereissati Participações S.A.

Details
Name: Iguatemi Empresa de Shopping Centers S.A.
IGUE.F
Exchange: OTCPK
Founded: 1979
R$1,687,961,301
176,296,693
Website: http://iguatemi.com.br
Address: Iguatemi Empresa de Shopping Centers S.A.
Rua Angelina Maffei Vita, 200,
São Paulo,
São Paulo, Brazil
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BOVESPA IGTA3 Common Shares Bolsa de Valores de Sao Paulo BR BRL 07. Feb 2007
OTCPK IGUE.F Common Shares Pink Sheets LLC US USD 07. Feb 2007
Number of employees
Current staff
Staff numbers
309
Iguatemi Empresa de Shopping Centers employees.
Industry
Real Estate Operating Companies
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 00:12
End of day share price update: 2019/01/24 00:00
Last estimates confirmation: 2019/04/22
Last earnings filing: 2019/02/27
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.