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INCLU.BR$17.05-1.16%
Fair $17.05+0.0%

INCLU.BR

Inclusio SA

Real Estate / Real Estate ServicesBrussels

$17.05

-0.20 (-1.16%)

Fairly Valued+0.0%Fair Value $17.05Fund rank 27/100 · Data gapFallback financials|
SA 35/D
F-Score: 5/9

Book/ROE base 3Y

n/d

n/d CAGR · P/B n/d

Book/ROE base 5Y

n/d

n/d base · n/d expected

Precio de entrada

n/d

MOS 100% · confianza 20%

Book/ROE escenarios

weak_data · book/share n/d · quality 41.0/100

Data gap 27/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 26/100Data QA 20/100

Ranking barato/determinista: CAGR esperado 5Y + downside bear + calidad del modelo + balance + capital allocation + data gate. No entra en buy-candidate si la data es débil o el CAGR 5Y no compensa.

Quality + valuation scorecard

SA Score

35/100

D

Piotroski

5/9

balance/quality

Valuation

50/100

+0.0% upside

5Y CAGR

+0.0%

50/100

Data QA

16/100

SEC 0%

Latest source: unknownPeriods: 4Warnings: 0unknown: 4
No SEC-backed annual rows; valuation uses fallback financial data. Sector-specific NAV/AFFO model required: REIT/real-estate targets are disabled until FFO/AFFO/NAV/cap-rate data exists. REIT NAV/AFFO valuation requires positive AFFO/share history or TTM AFFO/share; generic FCF remains disabled.
Thesis & Journal · INCLU.BRLocal privado en este navegador · Inclusio SA
Plantilla tipo buy-side: tesis, bull/base/bear, catalizadores, riesgos, kill criteria y fecha de revisión. Esto no gasta GPT-5.5; luego lo usamos como contexto del memo.

Sin guardar todavía.

Market Cap

$130M

P/E

8.4x

↓

EV/EBITDA

14.5x

↑

ROE

6.4%

↑

Gross Margin

90.1%

↑

Debt/Equity

0.68

↓
52-Week Range$17
$16$19

TradingView lightweight chart

INCLU.BR price, volumen y niveles de valoración

Último $17.05Periodo -23.4%
Fair value: $17.05

Price & Ratios

Absolute Values (Left Axis)

Ratios / Percentages (Right Axis)

Financial statement dashboard

Crecimiento, márgenes y provenance

2022–2025 · 3 años de histórico normalizado

Revenue CAGR

+15.4%

FCF CAGR

—

FCF margin

18.5%

FCF / Net income

0.20x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $16.9M · net income $15.4M · FCF $3.1M

2022-FY → 2025-FY

Gross margin

90.1%+4.4% pts

Operating margin

74.2%+9.5% pts

Net margin

91.3%-110.8% pts

FCF margin

18.5%+95.3% pts
MetricTTM
2025
2024
2023
2022
Income Statement
Revenue$16.9M$16.9M$15.6M$13.8M$11.0M
Net Income$15.4M$15.4M$19.5M$32.2M$22.2M
EBITDA$20.1M$20.1M$25.4M$36.6M$23.3M
EPS2.022.022.624.332.99
Gross Margin90.1%90.1%89.1%88.4%85.6%
Operating Margin74.2%74.2%73.4%71.2%64.7%
Net Margin91.3%91.3%125.0%233.1%202.1%
Balance Sheet
Debt/Equity0.680.680.680.590.53
Current Ratio0.300.30———
Cash Flow
Free Cash Flow$3.1M$3.1M$4.6M$2.7M$-8.5M
Returns
ROE6.4%6.4%8.6%15.1%11.9%
Valuation
P/E8.448.445.273.014.65
EV/EBITDA14.5314.5310.116.048.66
P/B0.540.540.450.450.55
Growth & Yield
Revenue Growth8.5%8.5%12.8%25.5%—
EPS Growth-22.9%-22.9%-39.5%44.8%—
Dividend Yield5.3%5.3%———

Revenue, Net Income & Free Cash Flow ($B)

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growthterminal P/E 15.0x · COE 10.0%

3Y implied EPS CAGR

-9.2%

fácil

EPS terminal req.

$1.51

Spread vs growth

-13.7%

5Y implied EPS CAGR

-1.9%

fácil

EPS terminal req.

$1.83

Spread vs growth

-21.0%

10Y implied EPS CAGR

3.9%

fácil

EPS terminal req.

$2.95

Spread vs growth

-26.8%

Qué te dice: cuánto EPS CAGR está descontando el precio si sales al múltiplo terminal indicado. Si el growth observado queda por debajo, el mercado está pidiendo una ejecución muy fina.

Return attribution · 1Y approxreconcilia total +2.2%

Total return

+2.2%

Start / end P/E

6.7x → 8.4x

EPS bridge

2.62 → 2.02

Residual

-5.9%

EPS growth-22.9%
Multiple rerating+25.6%
Dividend+5.3%
Residual / FX / buybacks / cross-term-5.9%

Simple additive decomposition: total return = EPS growth contribution + P/E multiple contribution + dividend contribution + explicit residual. The residual captures cross-terms, buybacks/share-count effects, FX, special dividends, data noise and methodology mismatch so the bridge always reconciles.