NYSE : IRS
IRSA Inversiones y Representaciones Sociedad Anónima — Financial statements
Real Estate · Real Estate Services · Argentina
Last price 14.69 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 1.17B
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Financial statements
Income statement
Fiscal year July - June; amounts in ARS.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Rental Revenue | 657.60B | 657.60B | 625.71B | 611.73B | 462.49B | 256.98B |
| Other Revenue | 39.13B | 39.13B | 37.29B | 63.37B | 13.58B | -2.84B |
| Total Revenue | 696.73B | 696.73B | 663.00B | 675.10B | 476.07B | 254.14B |
| Property Expenses | 258.19B | 258.19B | 245.38B | 203.40B | 149.17B | 88.28B |
| Selling, General & Administrative | 112.17B | 112.17B | 102.55B | 79.72B | 130.99B | 48.24B |
| Other Operating Expenses | 20.96B | 20.96B | 19.58B | 19.40B | 24.43B | 19.02B |
| Total Operating Expenses | 391.31B | 391.31B | 367.50B | 302.53B | 304.59B | 155.55B |
| Operating Income | 305.42B | 305.42B | 295.50B | 372.58B | 171.47B | 98.59B |
| Interest Expense | -78.68B | -78.68B | -52.63B | -75.14B | -62.84B | -66.40B |
| Interest & Investment Income | 13.10B | 13.10B | 10.75B | 66.62B | 7.70B | 4.73B |
| Currency Exchange Gain (Loss) | 89.91B | 89.91B | 18.57B | 27.90B | 35.03B | 115.38B |
| Other Non-Operating Income | 65.19B | 65.19B | 79.38B | 157.74B | 102.98B | 30.54B |
| EBT Excluding Unusual Items | 394.93B | 394.93B | 351.56B | 549.70B | 254.34B | 182.84B |
| Gain (Loss) on Sale of Investments | 3.69B | -2.54B | ||||
| Gain (Loss) on Sale of Assets | 2.00M | 2.00M | 16.00M | -4.00M | -3.54B | |
| Asset Writedown | 181.86B | 181.86B | -28.88B | -652.77B | -254.57B | 109.33B |
| Total Legal Settlements | -5.74B | -5.74B | -4.66B | -12.46B | -38.60B | -2.21B |
| Other Unusual Items | -42.00M | -42.00M | 512.00M | -337.00M | 1.03B | 11.69B |
| Pretax Income | 571.01B | 571.01B | 322.25B | -118.42B | -41.34B | 301.65B |
| Income Tax Expense | 150.03B | 150.03B | 60.34B | -75.50B | -342.26B | 22.18B |
| Earnings From Continuing Operations | 420.98B | 420.98B | 261.91B | -42.92B | 300.92B | 279.47B |
| Net Income to Company | 420.98B | 420.98B | 261.91B | -42.92B | 300.92B | 279.47B |
| Minority Interest in Earnings | -27.47B | -27.47B | -1.25B | 8.71B | -3.85B | -2.73B |
| Net Income | 393.51B | 393.51B | 260.66B | -34.22B | 297.07B | 276.74B |
| Net Income to Common | 393.51B | 393.51B | 260.66B | -34.22B | 297.07B | 276.74B |
| Basic Shares Outstanding | 779.00M | 779.00M | 747.00M | 742.00M | 748.00M | 757.00M |
| Diluted Shares Outstanding | 779.00M | 779.00M | 817.00M | 742.00M | 820.00M | 816.00M |
| EPS (Basic) | 505.15 | 505.15 | 348.94 | -46.11 | 397.15 | 365.58 |
| EPS (Diluted) | 505.15 | 505.15 | 319.05 | -46.11 | 362.28 | 339.14 |
| Dividend Per Share | 224.84 | 202.26 | 130.60 | 5.96 | ||
| Operating Margin | 43.84% | 43.84% | 44.57% | 55.19% | 36.02% | 38.79% |
| Profit Margin | 56.48% | 56.48% | 39.32% | -5.07% | 62.40% | 108.89% |
| EBITDA | 316.01B | 316.01B | 304.36B | 384.77B | 181.31B | 106.05B |
| EBITDA Margin | 45.36% | 45.36% | 45.91% | 56.99% | 38.09% | 41.73% |
| D&A For Ebitda | 10.59B | 10.59B | 8.86B | 12.19B | 9.84B | 7.45B |
| EBIT | 305.42B | 305.42B | 295.50B | 372.58B | 171.47B | 98.59B |
| EBIT Margin | 43.84% | 43.84% | 44.57% | 55.19% | 36.02% | 38.79% |
| Effective Tax Rate | 26.27% | 26.27% | 18.72% | 7.35% |
Balance sheet
Fiscal year July - June; amounts in ARS.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Property, Plant & Equipment | 92.23B | 92.23B | 88.11B | 65.86B | 48.61B | 19.90B |
| Cash & Equivalents | 112.99B | 112.99B | 236.14B | 39.45B | 32.45B | 27.54B |
| Accounts Receivable | 204.85B | 204.85B | 173.59B | 106.23B | 96.13B | 23.35B |
| Other Receivables | 621.00M | 621.00M | 469.00M | 1.50B | 2.71B | 116.00M |
| Investment In Debt and Equity Securities | 488.38B | 488.38B | 328.97B | 182.44B | 134.99B | 41.60B |
| Goodwill | 7.50B | 7.50B | 3.32B | 2.48B | 1.78B | 476.00M |
| Other Intangible Assets | 20.70B | 20.70B | 20.89B | 87.57B | 27.74B | 6.81B |
| Other Current Assets | 19.86B | 19.86B | 49.30B | 2.08B | 1.76B | 685.00M |
| Deferred Long-Term Tax Assets | 11.09B | 11.09B | 9.24B | 8.50B | 3.19B | 164.00M |
| Other Long-Term Assets | 3.90T | 3.90T | 3.58T | 2.63T | 2.29T | 683.02B |
| Total Assets | 4.85T | 4.85T | 4.49T | 3.13T | 2.64T | 803.67B |
| Current Portion of Long-Term Debt | 154.56B | 154.56B | 174.44B | 217.09B | 126.41B | 120.32B |
| Current Portion of Leases | 5.37B | 5.37B | 6.88B | 2.64B | 1.39B | 172.00M |
| Long-Term Debt | 830.99B | 830.99B | 680.82B | 258.41B | 250.13B | 28.14B |
| Long-Term Leases | 8.08B | 8.08B | 4.36B | 12.63B | 9.82B | 2.48B |
| Accounts Payable | 177.84B | 177.84B | 161.45B | 101.34B | 111.66B | 18.38B |
| Accrued Expenses | 24.77B | 24.77B | 19.48B | 11.91B | 10.30B | 1.75B |
| Current Income Taxes Payable | 65.81B | 65.81B | 74.29B | 9.34B | 3.91B | 32.59B |
| Other Current Liabilities | 5.98B | 5.98B | 6.99B | 5.14B | 3.16B | 461.00M |
| Long-Term Deferred Tax Liabilities | 1.01T | 1.01T | 994.89B | 781.53B | 615.60B | 212.54B |
| Other Long-Term Liabilities | 126.07B | 126.07B | 124.52B | 82.88B | 58.88B | 8.29B |
| Total Liabilities | 2.43T | 2.43T | 2.26T | 1.52T | 1.22T | 437.77B |
| Common Stock | 8.37B | 8.37B | 7.53B | 7.18B | 799.00M | 805.00M |
| Additional Paid-In Capital | 937.91B | 937.91B | 908.25B | 666.97B | 477.50B | 142.62B |
| Retained Earnings | 648.56B | 648.56B | 474.06B | 268.76B | 500.39B | 143.22B |
| Treasury Stock | -92.93B | -92.93B | -95.09B | -51.85B | -12.35B | -1.60B |
| Comprehensive Income & Other | 777.85B | 777.85B | 812.36B | 612.79B | 378.79B | 57.41B |
| Total Common Equity | 2.28T | 2.28T | 2.11T | 1.50T | 1.35T | 342.46B |
| Minority Interest | 140.66B | 140.66B | 125.75B | 102.88B | 82.97B | 23.44B |
| Shareholders' Equity | 2.42T | 2.42T | 2.23T | 1.61T | 1.43T | 365.90B |
| Total Liabilities & Equity | 4.85T | 4.85T | 4.49T | 3.13T | 2.64T | 803.67B |
| Total Debt | 1.02T | 1.02T | 875.47B | 526.59B | 412.24B | 163.76B |
| Net Cash (Debt) | -907.15B | -907.15B | -639.33B | -487.14B | -379.79B | -136.22B |
| Net Cash Per Share | -1,164.50 | -1,164.50 | -782.54 | -656.53 | -463.16 | -166.93 |
| Filing Date Shares Outstanding | 818.03M | 818.03M | 764.89M | 720.78M | 724.97M | 730.90M |
| Total Common Shares Outstanding | 818.03M | 818.03M | 764.89M | 720.78M | 724.97M | 730.90M |
| Book Value Per Share | 2,786.87 | 2,786.87 | 2,754.81 | 2,086.42 | 1,855.42 | 468.54 |
| Tangible Book Value | 2.25T | 2.25T | 2.08T | 1.41T | 1.32T | 335.17B |
| Tangible Book Value Per Share | 2,752.40 | 2,752.40 | 2,723.15 | 1,961.48 | 1,814.71 | 458.58 |
| Buildings | 176.13B | 176.13B | 168.97B | 120.86B | 84.44B | 28.83B |
Cash flow statement
Fiscal year July - June; amounts in ARS.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 393.51B | 393.51B | 260.66B | -34.22B | 297.07B | 276.74B |
| Depreciation & Amortization | 13.39B | 13.39B | 10.96B | 12.19B | 9.84B | 7.45B |
| Other Amortization | 2.65B | 2.65B | 3.07B | |||
| Gain (Loss) on Sale of Assets | -1.76B | -1.76B | 29.59B | -7.08B | -11.95B | |
| Gain (Loss) on Sale of Investments | -3.69B | 2.54B | ||||
| Asset Writedown | -193.80B | -193.80B | 3.34B | 652.77B | 254.74B | -109.33B |
| Income (Loss) on Equity Investments | -39.13B | -39.13B | -37.29B | -63.37B | -13.58B | 2.84B |
| Change in Accounts Receivable | 20.51B | 20.51B | -13.55B | 8.87B | -3.65B | -249.00M |
| Change in Accounts Payable | -6.00B | -6.00B | -24.11B | -92.08B | -1.51B | 5.00B |
| Change in Other Net Operating Assets | -861.00M | -861.00M | 2.28B | -4.90B | 4.42B | -527.00M |
| Other Operating Activities | -39.08B | -39.08B | 111.06B | -281.01B | -346.50B | -81.05B |
| Operating Cash Flow | 151.29B | 151.29B | 348.18B | 192.72B | 189.03B | 101.53B |
| Acquisition of Real Estate Assets | -93.37B | -93.37B | -63.09B | -30.18B | -34.69B | -51.81B |
| Sale of Real Estate Assets | 2.11B | 2.11B | 10.38B | 86.48B | 129.86B | 208.09B |
| Net Sale / Acq. of Real Estate Assets | -91.26B | -91.26B | -52.71B | 56.31B | 95.17B | 156.28B |
| Cash Acquisition | -2.36B | -2.36B | ||||
| Investment in Marketable & Equity Securities | -239.93B | -239.93B | -95.30B | 53.63B | 38.93B | -100.53B |
| Other Investing Activities | 52.13B | 52.13B | 40.58B | 46.43B | 3.59B | 30.81B |
| Investing Cash Flow | -283.59B | -283.59B | -109.87B | 155.00B | 136.97B | 89.67B |
| Short-Term Debt Issued | 10.70B | 10.70B | 87.00M | 71.92B | 193.00M | |
| Long-Term Debt Issued | 379.86B | 379.86B | 498.56B | 210.31B | 199.22B | 73.12B |
| Total Debt Issued | 390.56B | 390.56B | 498.65B | 282.23B | 199.22B | 73.31B |
| Short-Term Debt Repaid | -17.76B | -7.62B | -11.86B | |||
| Long-Term Debt Repaid | -150.46B | -150.46B | -247.56B | -193.25B | -367.87B | -101.62B |
| Lease Payments | -2.09B | -2.09B | -3.95B | -1.07B | -295.00M | -290.00M |
| Total Debt Repaid | -150.46B | -150.46B | -265.32B | -193.25B | -375.50B | -113.48B |
| Net Debt Issued (Repaid) | 240.10B | 240.10B | 233.33B | 88.98B | -176.28B | -40.17B |
| Issuance of Common Stock | 7.40B | 7.40B | 9.85B | 3.04B | 155.00M | 33.00M |
| Repurchase of Common Stock | -26.05B | -49.73B | -9.03B | -2.60B | ||
| Common Dividends Paid | -165.84B | -165.84B | -107.70B | -283.79B | -167.23B | -1.45B |
| Total Dividends Paid | -165.84B | -165.84B | -107.70B | -283.79B | -167.23B | -1.45B |
| Other Financing Activities | -69.09B | -69.09B | -62.00B | -114.01B | -67.83B | -65.24B |
| Foreign Exchange Rate Adjustments | 284.00M | 284.00M | 19.33B | 20.29B | 2.98B | -1.61B |
| Miscellaneous Cash Flow Adjustments | -3.70B | -3.70B | -121.62B | -20.24B | -6.19B | -3.19B |
| Net Cash Flow | -123.15B | -123.15B | 183.45B | -7.74B | -97.42B | 76.97B |
| Levered Free Cash Flow | 166.90B | 166.90B | 184.32B | 186.22B | 76.40B | 59.60B |
| Unlevered Free Cash Flow | 216.08B | 216.08B | 217.22B | 233.18B | 115.67B | 101.11B |
| Cash Interest Paid | 70.82B | 70.82B | 62.31B | 114.19B | 67.84B | 65.56B |
| Cash Income Tax Paid | 119.09B | 119.09B | 7.22B | 14.42B | 14.99B | 3.94B |
| Change in Working Capital | 15.52B | 15.52B | -29.52B | -89.10B | -585.00M | 4.88B |
Ratios
Fiscal year July - June; amounts in ARS.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.14B | 1.36B | 1.06B | 968.68M | 1.29B | 600.77M |
| Enterprise Value | 1.82B | 2.02B | 1.48B | 1.37B | 1.64B | 1.13B |
| Last Close Price | 14.25 | 15.44 | 12.71 | 7.66 | 6.50 | 2.53 |
| PE Ratio | 4.33 | 5.13 | 4.86 | 1.12 | 0.27 | |
| PS Ratio | 2.43 | 2.90 | 1.91 | 1.31 | 0.70 | 0.30 |
| PB Ratio | 0.70 | 0.83 | 0.57 | 0.55 | 0.23 | 0.21 |
| P/OCF Ratio | 11.58 | 13.35 | 3.63 | 4.58 | 1.76 | 0.74 |
| EV/Sales Ratio | 3.88 | 4.29 | 2.65 | 1.85 | 0.88 | 0.56 |
| EV/EBITDA Ratio | 8.55 | 9.46 | 5.78 | 3.25 | 2.32 | 1.34 |
| EV/EBIT Ratio | 8.85 | 9.79 | 5.95 | 3.36 | 2.46 | 1.44 |
| Debt / Equity Ratio | 0.42 | 0.42 | 0.39 | 0.33 | 0.29 | 0.45 |
| Debt / EBITDA Ratio | 3.20 | 3.20 | 2.86 | 1.37 | 2.27 | 1.54 |
| Net Debt / Equity Ratio | 0.38 | 0.38 | 0.29 | 0.30 | 0.27 | 0.37 |
| Net Debt / EBITDA Ratio | 2.87 | 2.87 | 2.10 | 1.27 | 2.10 | 1.28 |
| Asset Turnover | 0.15 | 0.15 | 0.17 | 0.23 | 0.28 | 0.43 |
| Inventory Turnover | 7.47 | 7.47 | 9.55 | 105.83 | 121.77 | 178.35 |
| Quick Ratio | 0.70 | 0.70 | 0.91 | 0.38 | 0.47 | 0.27 |
| Current Ratio | 0.74 | 0.74 | 1.01 | 0.39 | 0.47 | 0.28 |
| Return on Equity (ROE) | 18.09% | 18.09% | 13.64% | -2.83% | 33.55% | 111.44% |
| Return on Assets (ROA) | 4.08% | 4.08% | 4.85% | 8.07% | 6.22% | 10.54% |
| Return on Invested Capital (ROIC) | 7.05% | 6.88% | 9.16% | 18.75% | 14.47% | 23.77% |
| Earnings Yield | 23.10% | 19.48% | 20.60% | -3.87% | 89.49% | 367.88% |
| Dividend Yield | 10.51% | 13.59% | 16.50% | 28.52% | 5.79% | |
| Payout Ratio | 45.63% | 42.14% | 41.32% | 56.29% | 0.52% | |
| Buyback Yield / Dilution | 4.65% | 4.65% | -10.11% | 9.51% | -0.49% | -48.36% |
| Total Shareholder Return | 15.17% | 4.65% | 3.48% | 26.01% | 28.03% | -42.57% |