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IRISH RESIDENTIAL PROPERTIES (IRES.I) Stock Fundamental Analysis

DUB:IRES - Euronext Dublin - IE00BJ34P519 - REIT - Currency: EUR

0.917  0 (-0.33%)

Fundamental Rating

3

IRES gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 7 industry peers in the Residential REITs industry. While IRES seems to be doing ok healthwise, there are quite some concerns on its profitability. IRES has a expensive valuation and it also scores bad on growth.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year IRES has reported negative net income.
In the past year IRES had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: IRES reported negative net income in multiple years.
In the past 5 years IRES always reported a positive cash flow from operatings.
IRES.I Yearly Net Income VS EBIT VS OCF VS FCFIRES.I Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50M -50M 100M -100M

1.2 Ratios

IRES has a Return On Assets of -7.28%. This is in the lower half of the industry: IRES underperforms 71.43% of its industry peers.
IRES has a worse Return On Equity (-13.81%) than 71.43% of its industry peers.
IRES has a Return On Invested Capital (3.75%) which is in line with its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for IRES is in line with the industry average of 3.94%.
The last Return On Invested Capital (3.75%) for IRES is above the 3 year average (3.30%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA -7.28%
ROE -13.81%
ROIC 3.75%
ROA(3y)-1.76%
ROA(5y)1.01%
ROE(3y)-3.46%
ROE(5y)1.44%
ROIC(3y)3.3%
ROIC(5y)3.13%
IRES.I Yearly ROA, ROE, ROICIRES.I Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 -10

1.3 Margins

IRES has a Operating Margin (61.79%) which is in line with its industry peers.
IRES's Operating Margin has declined in the last couple of years.
With a decent Gross Margin value of 78.12%, IRES is doing good in the industry, outperforming 71.43% of the companies in the same industry.
IRES's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 61.79%
PM (TTM) N/A
GM 78.12%
OM growth 3Y-1.52%
OM growth 5Y-1.51%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.98%
GM growth 5Y-0.93%
IRES.I Yearly Profit, Operating, Gross MarginsIRES.I Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 100 -100 200

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4

2. Health

2.1 Basic Checks

IRES has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for IRES remains at a similar level compared to 1 year ago.
IRES has more shares outstanding than it did 5 years ago.
The debt/assets ratio for IRES is higher compared to a year ago.
IRES.I Yearly Shares OutstandingIRES.I Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M 400M 500M
IRES.I Yearly Total Debt VS Total AssetsIRES.I Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B

2.2 Solvency

Based on the Altman-Z score of 0.81, we must say that IRES is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of IRES (0.81) is better than 85.71% of its industry peers.
The Debt to FCF ratio of IRES is 10.74, which is on the high side as it means it would take IRES, 10.74 years of fcf income to pay off all of its debts.
IRES has a better Debt to FCF ratio (10.74) than 71.43% of its industry peers.
IRES has a Debt/Equity ratio of 0.86. This is a neutral value indicating IRES is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.86, IRES is in line with its industry, outperforming 57.14% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.86
Debt/FCF 10.74
Altman-Z 0.81
ROIC/WACC0.53
WACC7.13%
IRES.I Yearly LT Debt VS Equity VS FCFIRES.I Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M

2.3 Liquidity

IRES has a Current Ratio of 0.77. This is a bad value and indicates that IRES is not financially healthy enough and could expect problems in meeting its short term obligations.
IRES's Current ratio of 0.77 is amongst the best of the industry. IRES outperforms 85.71% of its industry peers.
A Quick Ratio of 0.77 indicates that IRES may have some problems paying its short term obligations.
With an excellent Quick ratio value of 0.77, IRES belongs to the best of the industry, outperforming 85.71% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.77
Quick Ratio 0.77
IRES.I Yearly Current Assets VS Current LiabilitesIRES.I Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M 40M 50M

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3

3. Growth

3.1 Past

IRES shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -17.51%.
IRES shows a decrease in Revenue. In the last year, the revenue decreased by -0.77%.
IRES shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 11.66% yearly.
EPS 1Y (TTM)-17.51%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%53.73%
Revenue 1Y (TTM)-0.77%
Revenue growth 3Y5.53%
Revenue growth 5Y11.66%
Sales Q2Q%-3.32%

3.2 Future

The Earnings Per Share is expected to grow by 5.37% on average over the next years.
The Revenue is expected to grow by 2.93% on average over the next years.
EPS Next Y5%
EPS Next 2Y8.17%
EPS Next 3Y5.37%
EPS Next 5YN/A
Revenue Next Year12.26%
Revenue Next 2Y4.73%
Revenue Next 3Y3.93%
Revenue Next 5Y2.93%

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
IRES.I Yearly Revenue VS EstimatesIRES.I Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 20M 40M 60M 80M
IRES.I Yearly EPS VS EstimatesIRES.I Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.02 0.04 0.06 0.08

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2

4. Valuation

4.1 Price/Earnings Ratio

IRES reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
The Price/Forward Earnings ratio is 15.37, which indicates a correct valuation of IRES.
IRES's Price/Forward Earnings ratio is in line with the industry average.
When comparing the Price/Forward Earnings ratio of IRES to the average of the S&P500 Index (22.10), we can say IRES is valued slightly cheaper.
Industry RankSector Rank
PE N/A
Fwd PE 15.37
IRES.I Price Earnings VS Forward Price EarningsIRES.I Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 40 60

4.2 Price Multiples

IRES's Enterprise Value to EBITDA is on the same level as the industry average.
Based on the Price/Free Cash Flow ratio, IRES is valued a bit cheaper than the industry average as 71.43% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 9.02
EV/EBITDA 19.61
IRES.I Per share dataIRES.I EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 0.5 1

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y8.17%
EPS Next 3Y5.37%

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4

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 5.36%, IRES is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 7.35, IRES has a dividend in line with its industry peers.
IRES's Dividend Yield is rather good when compared to the S&P500 average which is at 2.33.
Industry RankSector Rank
Dividend Yield 5.36%

5.2 History

The dividend of IRES decreases each year by -0.11%.
Dividend Growth(5Y)-0.11%
Div Incr Years0
Div Non Decr Years0
IRES.I Yearly Dividends per shareIRES.I Yearly Dividends per shareYearly Dividends per share 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.01 0.02 0.03 0.04 0.05

5.3 Sustainability

IRES has negative earnings and hence a negative payout ratio. The dividend may be in danger.
DP-25.5%
EPS Next 2Y8.17%
EPS Next 3Y5.37%
IRES.I Yearly Income VS Free CF VS DividendIRES.I Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50M -50M 100M -100M

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IRISH RESIDENTIAL PROPERTIES

DUB:IRES (3/7/2025, 7:00:00 PM)

0.917

0 (-0.33%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryResidential REITs
Earnings (Last)02-20 2025-02-20/amc
Earnings (Next)08-06 2025-08-06
Inst Owners75.55%
Inst Owner ChangeN/A
Ins Owners0.33%
Ins Owner ChangeN/A
Market Cap485.62M
Analysts80
Price Target0.97 (5.78%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.36%
Yearly Dividend0.05
Dividend Growth(5Y)-0.11%
DP-25.5%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)5.56%
PT rev (3m)5.56%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-12.02%
EPS NY rev (3m)-15.32%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)14.47%
Revenue NY rev (3m)33.85%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 15.37
P/S 5.62
P/FCF 9.02
P/OCF 9.01
P/B 0.73
P/tB 0.73
EV/EBITDA 19.61
EPS(TTM)-0.17
EYN/A
EPS(NY)0.06
Fwd EY6.51%
FCF(TTM)0.1
FCFY11.09%
OCF(TTM)0.1
OCFY11.09%
SpS0.16
BVpS1.26
TBVpS1.26
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -7.28%
ROE -13.81%
ROCE 4.28%
ROIC 3.75%
ROICexc 3.76%
ROICexgc 3.76%
OM 61.79%
PM (TTM) N/A
GM 78.12%
FCFM 62.33%
ROA(3y)-1.76%
ROA(5y)1.01%
ROE(3y)-3.46%
ROE(5y)1.44%
ROIC(3y)3.3%
ROIC(5y)3.13%
ROICexc(3y)3.32%
ROICexc(5y)3.15%
ROICexgc(3y)3.32%
ROICexgc(5y)3.15%
ROCE(3y)3.77%
ROCE(5y)3.58%
ROICexcg growth 3Y7.07%
ROICexcg growth 5Y3.12%
ROICexc growth 3Y7.07%
ROICexc growth 5Y3.12%
OM growth 3Y-1.52%
OM growth 5Y-1.51%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.98%
GM growth 5Y-0.93%
F-Score3
Asset Turnover0.07
Health
Industry RankSector Rank
Debt/Equity 0.86
Debt/FCF 10.74
Debt/EBITDA 10.71
Cap/Depr 5.67%
Cap/Sales 0.04%
Interest Coverage 2.35
Cash Conversion 99.9%
Profit Quality N/A
Current Ratio 0.77
Quick Ratio 0.77
Altman-Z 0.81
F-Score3
WACC7.13%
ROIC/WACC0.53
Cap/Depr(3y)4.93%
Cap/Depr(5y)N/A
Cap/Sales(3y)0.03%
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-17.51%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%53.73%
EPS Next Y5%
EPS Next 2Y8.17%
EPS Next 3Y5.37%
EPS Next 5YN/A
Revenue 1Y (TTM)-0.77%
Revenue growth 3Y5.53%
Revenue growth 5Y11.66%
Sales Q2Q%-3.32%
Revenue Next Year12.26%
Revenue Next 2Y4.73%
Revenue Next 3Y3.93%
Revenue Next 5Y2.93%
EBIT growth 1Y-3.85%
EBIT growth 3Y3.93%
EBIT growth 5Y9.98%
EBIT Next Year286.17%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y18.64%
FCF growth 3Y5.6%
FCF growth 5Y14.79%
OCF growth 1Y18.68%
OCF growth 3Y5.5%
OCF growth 5Y14.8%