Monitor occupancy trends in the shopping mall and office segments, as well as progress on new developments (Distrito Diagonal, Oeste Outlet) and land swaps at Ramblas del Plata. The USD-denominated notes issuance and dividend policy provide a yield anchor, but Argentine macroeconomic conditions and inflation could pressure operating results going forward.
Price Chart
Executive Summary
IRSA reported fiscal year 2026 results with net income of ARS 420,977 million (up from ARS 261,911 million in FY2025) and a 1.4% YoY increase in Adjusted EBITDA from rental segments to ARS 317,725 million. The company issued USD 230 million in notes, maintained a ~10% dividend yield, and continues expanding its shopping mall and mixed-use portfolios.
Key Facts
- Net income for fiscal year 2026: ARS 420,977 million (vs ARS 261,911 million in FY2025)
- Adjusted EBITDA from rental segments: ARS 317,725 million (up 1.4% YoY)
- Dividend yield of approximately 10%
- Notes issued: USD 230 million during the year
- Market capitalization as of June 30, 2026: approx. USD 1,306 million at $15.44 per GDS
- Majority shareholder Cresud S.A.C.I.F. y A. holds 55.14% of share capital
- Shopping mall portfolio expanded to 18 assets with over 410,000 sqm GLA
- Premium office portfolio maintains 100% occupancy
- Warrant program issued in 2021 completed
Financial Impact
Net income more than 1.6x YoY in ARS terms; rental EBITDA +1.4% YoY in ARS; USD 230M notes issued
Risk Factors
- Argentine inflation and currency devaluation may erode ARS-denominated earnings and real estate values
- New project execution risk and potential delays in commercializing Ramblas del Plata lots
- High concentration in majority shareholder Cresud reduces free float and liquidity
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0000933267-26-000055 |
| Document: 0000933267-26-000055-index-headers.html | 0000933267-26-000055 |
| Document: 0000933267-26-000055-index.html | 0000933267-26-000055 |
| Document: 0000933267-26-000055.txt | 0000933267-26-000055 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | 6-K | $14.65 | awaiting T+20 | — | $14.59 (−0.41%) |
Oct 22, 2026 5d ago | 6-K | $14.21 | awaiting T+20 | — | $14.59 (+2.67%) |
Oct 22, 2026 5d ago | 6-K | $14.21 | awaiting T+20 | — | $14.59 (+2.67%) |
Oct 21, 2026 6d ago | 20-F | $14.25 | awaiting T+20 | — | $14.59 (+2.39%) |
Oct 16, 2026 11d ago | 6-K | $14.13 | awaiting T+20 | — | $14.59 (+3.26%) |
Sep 23, 2026 4w ago | 6-K | $15.11 $14.25 | ▼ −5.69% | ▼ −6.38% | $14.59 (−3.44%) |
Sep 17, 2026 5w ago | 6-K | $16.02 $14.14 | ▼ −11.74% | ▼ −12.94% | $14.59 (−8.93%) |
Sep 3, 2026 7w ago | 6-K | $15.08 $13.92 | ▼ −7.69% | ▼ −6.57% | $14.59 (−3.25%) |
Aug 31, 2026 8w ago | 6-K | $15.03 $13.92 | ▼ −7.39% | ▼ −7.70% | $14.59 (−2.93%) |
Aug 21, 2026 9w ago | 6-K | $14.82 $15.60 | ▲ +5.26% | ▲ +5.79% | $14.59 (−1.55%) |
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