INCLUSIO SA (INCLU.BR) Fundamental Analysis & Valuation

EBR:INCLU • BE0974374069

Current stock price

17.7 EUR
-0.1 (-0.56%)
Last:

This INCLU.BR fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

8

1. INCLU.BR Profitability Analysis

1.1 Basic Checks

  • In the past year INCLU was profitable.
  • In the past year INCLU had a positive cash flow from operations.
  • Each year in the past 5 years INCLU has been profitable.
  • Of the past 5 years INCLU 4 years had a positive operating cash flow.
INCLU.BR Yearly Net Income VS EBIT VS OCF VS FCFINCLU.BR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10M 20M 30M

1.2 Ratios

  • The Return On Assets of INCLU (3.78%) is better than 77.14% of its industry peers.
  • With a decent Return On Equity value of 6.44%, INCLU is doing good in the industry, outperforming 72.86% of the companies in the same industry.
  • INCLU has a Return On Invested Capital of 2.57%. This is in the better half of the industry: INCLU outperforms 64.29% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for INCLU is in line with the industry average of 3.85%.
  • The 3 year average ROIC (2.32%) for INCLU is below the current ROIC(2.57%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 3.78%
ROE 6.44%
ROIC 2.57%
ROA(3y)6.06%
ROA(5y)6.49%
ROE(3y)10.04%
ROE(5y)10.16%
ROIC(3y)2.32%
ROIC(5y)2.12%
INCLU.BR Yearly ROA, ROE, ROICINCLU.BR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5 10 15

1.3 Margins

  • INCLU has a better Profit Margin (91.60%) than 90.00% of its industry peers.
  • INCLU's Profit Margin has improved in the last couple of years.
  • With an excellent Operating Margin value of 77.81%, INCLU belongs to the best of the industry, outperforming 91.43% of the companies in the same industry.
  • INCLU's Operating Margin has improved in the last couple of years.
  • INCLU has a Gross Margin of 90.82%. This is amongst the best in the industry. INCLU outperforms 84.29% of its industry peers.
Industry RankSector Rank
OM 77.81%
PM (TTM) 91.6%
GM 90.82%
OM growth 3Y2.85%
OM growth 5YN/A
PM growth 3Y-24.51%
PM growth 5Y162.53%
GM growth 3YN/A
GM growth 5YN/A
INCLU.BR Yearly Profit, Operating, Gross MarginsINCLU.BR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50 100 150 200

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2

2. INCLU.BR Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so INCLU is destroying value.
  • Compared to 1 year ago, INCLU has more shares outstanding
  • The number of shares outstanding for INCLU has been increased compared to 5 years ago.
  • Compared to 1 year ago, INCLU has about the same debt to assets ratio.
INCLU.BR Yearly Shares OutstandingINCLU.BR Yearly Shares OutstandingYearly Shares Outstanding 2017 2018 2019 2020 2021 2022 2023 2024 2025 2M 4M 6M
INCLU.BR Yearly Total Debt VS Total AssetsINCLU.BR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M

2.2 Solvency

  • INCLU has an Altman-Z score of 0.87. This is a bad value and indicates that INCLU is not financially healthy and even has some risk of bankruptcy.
  • Looking at the Altman-Z score, with a value of 0.87, INCLU is in line with its industry, outperforming 52.86% of the companies in the same industry.
  • The Debt to FCF ratio of INCLU is 52.26, which is on the high side as it means it would take INCLU, 52.26 years of fcf income to pay off all of its debts.
  • With a Debt to FCF ratio value of 52.26, INCLU perfoms like the industry average, outperforming 51.43% of the companies in the same industry.
  • A Debt/Equity ratio of 0.60 indicates that INCLU is somewhat dependend on debt financing.
  • The Debt to Equity ratio of INCLU (0.60) is better than 61.43% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.6
Debt/FCF 52.26
Altman-Z 0.87
ROIC/WACC0.53
WACC4.86%
INCLU.BR Yearly LT Debt VS Equity VS FCFINCLU.BR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50M 100M 150M 200M

2.3 Liquidity

  • INCLU has a Current Ratio of 0.30. This is a bad value and indicates that INCLU is not financially healthy enough and could expect problems in meeting its short term obligations.
  • INCLU has a worse Current ratio (0.30) than 80.00% of its industry peers.
  • INCLU has a Quick Ratio of 0.30. This is a bad value and indicates that INCLU is not financially healthy enough and could expect problems in meeting its short term obligations.
  • INCLU has a worse Quick ratio (0.30) than 71.43% of its industry peers.
Industry RankSector Rank
Current Ratio 0.3
Quick Ratio 0.3
INCLU.BR Yearly Current Assets VS Current LiabilitesINCLU.BR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2017 2018 2019 2020 2021 2022 2023 2024 2025 10M 20M 30M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. INCLU.BR Growth Analysis

3.1 Past

  • INCLU shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -22.82%.
  • INCLU shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 236.37% yearly.
  • Looking at the last year, INCLU shows a quite strong growth in Revenue. The Revenue has grown by 9.80% in the last year.
  • Measured over the past years, INCLU shows a very strong growth in Revenue. The Revenue has been growing by 29.77% on average per year.
EPS 1Y (TTM)-22.82%
EPS 3Y-12.22%
EPS 5Y236.37%
EPS Q2Q%-1.6%
Revenue 1Y (TTM)9.8%
Revenue growth 3Y17.26%
Revenue growth 5Y29.77%
Sales Q2Q%2.04%

3.2 Future

  • INCLU is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 2.35% yearly.
  • INCLU is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.27% yearly.
EPS Next Y-2.25%
EPS Next 2Y3.54%
EPS Next 3Y2.35%
EPS Next 5YN/A
Revenue Next Year5.34%
Revenue Next 2Y8.54%
Revenue Next 3Y7.27%
Revenue Next 5YN/A

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
INCLU.BR Yearly Revenue VS EstimatesINCLU.BR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 5M 10M 15M 20M
INCLU.BR Yearly EPS VS EstimatesINCLU.BR Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2028 0.5 1 1.5 2 2.5

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5

4. INCLU.BR Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 8.76, which indicates a very decent valuation of INCLU.
  • Based on the Price/Earnings ratio, INCLU is valued a bit cheaper than 78.57% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 26.77. INCLU is valued rather cheaply when compared to this.
  • A Price/Forward Earnings ratio of 15.84 indicates a correct valuation of INCLU.
  • Based on the Price/Forward Earnings ratio, INCLU is valued a bit cheaper than 67.14% of the companies in the same industry.
  • INCLU's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 21.75.
Industry RankSector Rank
PE 8.76
Fwd PE 15.84
INCLU.BR Price Earnings VS Forward Price EarningsINCLU.BR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of INCLU indicates a somewhat cheap valuation: INCLU is cheaper than 64.29% of the companies listed in the same industry.
  • INCLU's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 43.31
EV/EBITDA 22.59
INCLU.BR Per share dataINCLU.BR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

  • INCLU has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.04
EPS Next 2Y3.54%
EPS Next 3Y2.35%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. INCLU.BR Dividend Analysis

5.1 Amount

  • INCLU has a Yearly Dividend Yield of 3.63%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 4.03, INCLU pays a bit more dividend than its industry peers.
  • INCLU's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 3.63%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years3
Div Non Decr Years3
INCLU.BR Yearly Dividends per shareINCLU.BR Yearly Dividends per shareYearly Dividends per share 2022 2023 2024 2025 0.2 0.4 0.6 0.8

5.3 Sustainability

  • INCLU pays out 21.17% of its income as dividend. This is a sustainable payout ratio.
DP21.17%
EPS Next 2Y3.54%
EPS Next 3Y2.35%
INCLU.BR Yearly Income VS Free CF VS DividendINCLU.BR Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10M 20M 30M
INCLU.BR Dividend Payout.INCLU.BR Dividend Payout, showing the Payout Ratio.INCLU.BR Dividend Payout.PayoutRetained Earnings

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INCLU.BR Fundamentals: All Metrics, Ratios and Statistics

INCLUSIO SA

EBR:INCLU (4/30/2026, 7:00:00 PM)

17.7

-0.1 (-0.56%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryReal Estate Management & Development
Industry Strength25.68
Industry Growth49.33
Earnings (Last)N/A
Earnings (Next)N/A
Inst Owners5.54%
Inst Owner ChangeN/A
Ins Owners0.1%
Ins Owner ChangeN/A
Market Cap135.05M
Revenue(TTM)16.83M
Net Income(TTM)15.42M
Analysts84
Price Target20.91 (18.14%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.63%
Yearly Dividend0.43
Dividend Growth(5Y)N/A
DP21.17%
Div Incr Years3
Div Non Decr Years3
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)0%
PT rev (3m)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 8.76
Fwd PE 15.84
P/S 8.02
P/FCF 43.31
P/OCF 35.61
P/B 0.56
P/tB 0.56
EV/EBITDA 22.59
EPS(TTM)2.02
EY11.41%
EPS(NY)1.12
Fwd EY6.31%
FCF(TTM)0.41
FCFY2.31%
OCF(TTM)0.5
OCFY2.81%
SpS2.21
BVpS31.35
TBVpS31.35
PEG (NY)N/A
PEG (5Y)0.04
Graham Number37.7501 (113.28%)
Profitability
Industry RankSector Rank
ROA 3.78%
ROE 6.44%
ROCE 3.42%
ROIC 2.57%
ROICexc 2.57%
ROICexgc 2.57%
OM 77.81%
PM (TTM) 91.6%
GM 90.82%
FCFM 18.53%
ROA(3y)6.06%
ROA(5y)6.49%
ROE(3y)10.04%
ROE(5y)10.16%
ROIC(3y)2.32%
ROIC(5y)2.12%
ROICexc(3y)2.32%
ROICexc(5y)2.12%
ROICexgc(3y)2.32%
ROICexgc(5y)2.12%
ROCE(3y)3.09%
ROCE(5y)2.82%
ROICexgc growth 3Y5.63%
ROICexgc growth 5YN/A
ROICexc growth 3Y5.63%
ROICexc growth 5YN/A
OM growth 3Y2.85%
OM growth 5YN/A
PM growth 3Y-24.51%
PM growth 5Y162.53%
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 0.6
Debt/FCF 52.26
Debt/EBITDA 10.81
Cap/Depr 768.11%
Cap/Sales 4.01%
Interest Coverage 2.97
Cash Conversion 28.77%
Profit Quality 20.23%
Current Ratio 0.3
Quick Ratio 0.3
Altman-Z 0.87
F-Score5
WACC4.86%
ROIC/WACC0.53
Cap/Depr(3y)311.58%
Cap/Depr(5y)239.54%
Cap/Sales(3y)1.77%
Cap/Sales(5y)1.39%
Profit Quality(3y)17.26%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-22.82%
EPS 3Y-12.22%
EPS 5Y236.37%
EPS Q2Q%-1.6%
EPS Next Y-2.25%
EPS Next 2Y3.54%
EPS Next 3Y2.35%
EPS Next 5YN/A
Revenue 1Y (TTM)9.8%
Revenue growth 3Y17.26%
Revenue growth 5Y29.77%
Sales Q2Q%2.04%
Revenue Next Year5.34%
Revenue Next 2Y8.54%
Revenue Next 3Y7.27%
Revenue Next 5YN/A
EBIT growth 1Y-48.44%
EBIT growth 3Y20.61%
EBIT growth 5YN/A
EBIT Next Year6.36%
EBIT Next 3Y6.22%
EBIT Next 5YN/A
FCF growth 1Y-30.89%
FCF growth 3YN/A
FCF growth 5Y-4.04%
OCF growth 1Y-16.75%
OCF growth 3YN/A
OCF growth 5Y-0.39%

INCLUSIO SA / INCLU.BR Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for INCLUSIO SA?

ChartMill assigns a fundamental rating of 5 / 10 to INCLU.BR.


Can you provide the valuation status for INCLUSIO SA?

ChartMill assigns a valuation rating of 5 / 10 to INCLUSIO SA (INCLU.BR). This can be considered as Fairly Valued.


What is the profitability of INCLU stock?

INCLUSIO SA (INCLU.BR) has a profitability rating of 8 / 10.


What is the valuation of INCLUSIO SA based on its PE and PB ratios?

The Price/Earnings (PE) ratio for INCLUSIO SA (INCLU.BR) is 8.76 and the Price/Book (PB) ratio is 0.56.


Can you provide the dividend sustainability for INCLU stock?

The dividend rating of INCLUSIO SA (INCLU.BR) is 5 / 10 and the dividend payout ratio is 21.17%.