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Mitre Realty Empreendimentos e Participações S.A (MTRE3) Fair Value & Analysis

Real Estate · BR · Market cap R$329M

MR Mitre Realty Empreendimentos e Participações S.A MTRE3 · SA
PriceR$2.92
Fair ValueR$7.75
Upside+165.4%
Quality46/100
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Expensive Growth
Thin margins · 5.5% net margin
Low debt · generates free cash flow
10.24% dividend yield
Ranks above peers (10/14)
Narrow moat 41/100
Evidence: High Range R$5.82 – R$9.69 Share as image

Fair value as of: Jul 15, 2026

From 16 valuation models · updated 26 days ago

Fair value updated Jul 15, 2026, revised from R$8.23 to R$7.75 (−5.8%) since Jun 26, 2026. Share price −7.9% over the past month.

Below-average quality, screening 165% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (R$5.82). The market is more pessimistic than our downside scenario.
  • Solid quality (46/100) at a price below fair value, the discount is the argument here, not the business quality.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

R$7.78 R$2.19 Fair Value R$7.75 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range R$2.19 – R$7.78 · fair‑value band R$5.82 – R$9.69 · the R$2.92 price screens below the R$7.75 fair value. Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

Mitre Realty Empreendimentos e Participações S.A (MTRE3) currently trades at R$2.92, while our model-based Fair Value estimate is R$7.75, implying the stock looks roughly 165.4% undervalued today. The Quality Score stands at 46/100 (below-average quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Mitre Realty Empreendimentos e Participações S.A generated revenue of R$1.1B at a net margin of 5.5%. Revenue grew 19.1% year over year. It earns a return on equity of 8.3%. Net debt stands at R$476M. Fundamentals as of Jul 15, 2026

Our scenario range runs from R$5.82 (bear case) to R$9.69 (bull case); at R$2.92, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 30% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at 165%, MTRE3 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF R$0.0600 R$1.72 80
Residual Income R$7.00 R$7.09 R$6.58 76
Rev-Margin DCF R$3.32 R$9.42 R$21.41 74
All 16 models by family
DCF Models
FCF DCF R$1.92 38
5Y Revenue Exit R$3.03 R$7.98 R$18.41 39
5Y EBITDA Exit R$5.28 R$12.52 R$26.76 41
10Y Revenue Exit R$1.54 R$8.34 R$13.38 36
10Y EBITDA Exit R$3.28 R$12.75 R$30.13 37
Dividend Discount
Gordon GGM R$3.97 R$7.15 R$9.84 70
DDM Multi-Stage R$3.97 R$6.53 R$7.63 61
Multiples
P/S Multiple R$6.48 R$8.64 R$10.80 58
P/B Multiple R$6.48 R$8.64 R$10.80 55
EV/EBIT R$9.48 R$13.38 R$17.28 53
EV/EBITDA R$7.96 R$11.35 R$14.73 54
EV/Revenue R$4.24 R$7.00 R$9.77 43
Asset-Based
NCAV (Graham) R$4.74 R$6.36 R$9.49 50
Growth DCF
Growth DCF R$0.0600 R$1.72 80
Rev-Margin DCF R$3.32 R$9.42 R$21.41 74
Economic Profit
Residual Income R$7.00 R$7.09 R$6.58 76

Widest divergence: Multiples (R$8.64) versus Growth DCF (R$0.0600). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) R$1.1B
Revenue growth (YoY) +19.1%
Net margin 5.5%
Return on equity 8.3%
Free cash flow R$11.3M FY2025
P/E ratio 5.8
More key figures
Operating margin 10.3%
EPS (TTM) R$0.5400
Dividend yield 10.2%
EPS growth (YoY) +63.6%
Net debt R$476M FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 46/100

Of which business quality 44 · Market factors (momentum, volatility) 34

Profitability 27
Margins and returns on capital today
Quality Growth 31
Are margins and returns improving?
Cashflow 14
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 71
Calm price path (market factor)
Momentum 23
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Mitre Realty Empreendimentos e Participações S.A., together with its subsidiaries, develops, constructs, and sells residential and commercial real estate properties for middle-class and upper middle-class customers in Brazil. Mitre Realty Empreendimentos e Participações S.A. was founded in 2005 and is based in São Paulo, Brazil.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Mitre Realty Empreendimentos e Participações S.A reported revenue of R$1.1B in FY2025 versus R$574M in FY2021, a compound +16.4%/yr. Reported net income was R$53.8M in FY2025, compounding +21.9%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
R$1.1B
Latest YoY
−10.6%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+11.6%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+20.7%
Avg. growth/yr (9Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+37.8%
Revenue +16.4%/yr
FY21 R$574M
FY22 R$759M
FY23 R$926M
FY24 R$1.2B
FY25 R$1.1B
Net income +21.9%/yr
FY21 R$24.3M
FY22 R$34.8M
FY23 R$90.4M
FY24 R$49.2M
FY25 R$53.8M

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Cite: Fair Value Calculator (2026). "Mitre Realty Empreendimentos e Participações S.A Fair Value". https://www.fairvalue-calculator.com/stock/MTRE3

Peer Group

Real Estate - Development · 588 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 47 · Below median
Fair Value upside +165% · Top 25%
Return on equity (TTM) 8% · Above median
Return on assets 2% · Above median
Net margin (TTM) 6% · Below median
Operating margin (TTM) 10% · Above median
Revenue growth 19% · Above median
Dividend yield (TTM) 10.2% · Top 25%
Debt / equity 0.44× · Higher than median

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 5.8× · Cheaper than 75% of peers
P/B 0.33× · Cheaper than median
P/S (TTM) 0.30× · Cheaper than median
P/FCF 5.7× · Pricier than 75% of peers
EV/EBITDA 6.0× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 48
FUTURE 96 · sector 0
PAST 33 · sector 10
HEALTH 78 · sector 84
DIVIDEND 100 · sector 38

Insider activity: 45/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is Mitre Realty Empreendimentos e Participações S.A (MTRE3) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of R$7.75 versus a price of R$2.92, about +165% (undervalued).
What is the fair value of MTRE3?
Our model-based fair value for Mitre Realty Empreendimentos e Participações S.A is R$7.75 (as of Jul 15, 2026), built from audited fundamentals. The current price is R$2.92.
What is the quality score of MTRE3?
Mitre Realty Empreendimentos e Participações S.A has a Quality Score of 46/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Mitre Realty Empreendimentos e Participações S.A (MTRE3)?
Mitre Realty Empreendimentos e Participações S.A reported trailing-twelve-month revenue of about R$1.1B (latest available figure, as of Jul 15, 2026).
What is the net profit margin of MTRE3?
The net profit margin of Mitre Realty Empreendimentos e Participações S.A is about 5.5%, meaning it keeps roughly 5.5% of revenue as net income. Based on the latest reported figures.
Does Mitre Realty Empreendimentos e Participações S.A pay a dividend?
Mitre Realty Empreendimentos e Participações S.A currently shows a dividend yield of about 9.94% relative to its recent price (as of Jul 15, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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