-0.36%
-0.71%
11.27%
29.08%
60.73%
54.80%
70.18%
AI Spotlight on HOME
Company Description
Neinor Homes, S.A., together with its subsidiaries, develops, promotes, rental, and manages real estate properties in Spain.The company operates through Legacy, Development, Assets Management-Servicing, and Rental segments.Its land portfolio consists of 160 lots with a total of 9.700 buildable units in Madrid, Catalonia, the Basque Country, Valencia, and Andalusia.
Neinor Homes, S.A. was founded in 1988 and is headquartered in Bilbao, Spain.
Market Data
| Last Price | 16.78 |
| Change Percentage | -0.36% |
| Open | 16.9 |
| Previous Close | 16.84 |
| Market Cap ( Millions) | 1252 |
| Volume | 29106 |
| Year High | 17.28 |
| Year Low | 9.53 |
| M A 50 | 15.95 |
| M A 200 | 13.85 |
Financial Ratios
| FCF Yield | 9.30% |
| Dividend Yield | 18.99% |
| ROE | 13.38% |
| Debt / Equity | 42.73% |
| Net Debt / EBIDTA | 179.51% |
| Price To Book | 1.34 |
| Price Earnings Ratio | 13.19 |
| Price To FCF | 10.75 |
| Price To sales | 2.15 |
| EV / EBITDA | 14.31 |
News
- Jan -27 - Neinor Homes and Ameris create a joint-venture to invest up to €50mn in the Spanish residential sector
- Jan -20 - Neinor Homes fulfils FY24 targets and approves new distribution to shareholders +10% yield during 1Q25 (€1.66/sh)
- Dec -20 - Neinor Homes to distribute a total of €125mn to its shareholders in the first quarter of 2025 (€1.66/share - 11% yield)
- Oct -31 - Neinor Homes upsizes its Green Bond to €325mn on strong demand with €1,300mn orderbook - 4x oversubscribed
- Oct -29 - Neinor Homes signs a Joint-Venture with Bain Capital to strengthen its leading position in the Spanish market
- Feb -21 - Neinor is set to pay a +40% dividend yield over 2024-25 - the highest of IBEX35 and STOXX600
Business Breakdown
Expected Mid-Term Growth
Segment n°1 -> Development
Expected Growth : 4.5 %
What the company do ?
Neinor Homes, S.A. is a Spanish real estate development company focused on designing, building, and selling residential properties, offering high-quality homes and innovative living spaces.
Why we expect these perspectives ?
Neinor Homes' 4.5% growth driven by increasing demand for affordable housing in Spain, fueled by low interest rates, economic recovery, and government incentives. Additionally, the company's strategic focus on land acquisition, efficient construction processes, and diversified product offerings contribute to its growth momentum.
Segment n°2 -> Rental
Expected Growth : 4.8 %
What the company do ?
Rental from Neinor Homes, S.A. offers a unique opportunity to rent homes in Spain, providing a flexible and convenient alternative to traditional homeownership.
Why we expect these perspectives ?
Rental from Neinor Homes, S.A. growth of 4.8% driven by increasing demand for rental properties in Spain, fueled by urbanization and changing demographics. Additionally, Neinor's strategic focus on affordable and sustainable housing, coupled with its efficient property management, contributes to the growth.
Segment n°3 -> Assets Management and Other/Corporate
Expected Growth : 5.2 %
What the company do ?
Assets Management refers to Neinor Homes' property portfolio management, while Other/Corporate includes corporate expenses, taxes, and other non-operating items.
Why we expect these perspectives ?
Neinor Homes' 5.2% growth in Assets Management and Other/Corporate segments is driven by increasing demand for rental properties, strategic partnerships, and effective cost management. The company's focus on urban regeneration projects and expansion into new markets also contribute to growth. Additionally, Neinor's diversified revenue streams and strong balance sheet provide a solid foundation for future growth.
Neinor Homes, S.A. Products
| Product Range | What is it ? |
|---|---|
| New Homes | Neinor Homes offers a wide range of new homes, from apartments to single-family homes, designed to meet the needs of modern living. |
| Residential Plots | Neinor Homes offers residential plots for those who want to build their own homes, providing a blank canvas for customization. |
| Renovation and Refurbishment | Neinor Homes offers renovation and refurbishment services to upgrade and modernize existing homes, enhancing their value and livability. |
| Land Development | Neinor Homes develops and sells land for residential and commercial use, providing opportunities for investors and developers. |
| Property Management | Neinor Homes offers property management services, including rental and maintenance, to help homeowners and investors maximize their returns. |
Neinor Homes, S.A.'s Porter Forces
Threat Of Substitutes
The threat of substitutes for Neinor Homes, S.A. is medium due to the presence of alternative housing options such as apartments and rental properties.
Bargaining Power Of Customers
The bargaining power of customers for Neinor Homes, S.A. is low due to the company's strong brand reputation and limited availability of similar housing options.
Bargaining Power Of Suppliers
The bargaining power of suppliers for Neinor Homes, S.A. is medium due to the company's dependence on a few large suppliers for construction materials and services.
Threat Of New Entrants
The threat of new entrants for Neinor Homes, S.A. is high due to the relatively low barriers to entry in the Spanish real estate market and the increasing demand for housing.
Intensity Of Rivalry
The intensity of rivalry for Neinor Homes, S.A. is high due to the presence of several established competitors in the Spanish real estate market, leading to a highly competitive environment.
Capital Structure
| Value | |
|---|---|
| Debt Weight | 28.08% |
| Debt Cost | 6.16% |
| Equity Weight | 71.92% |
| Equity Cost | 6.16% |
| WACC | 6.16% |
| Leverage | 39.05% |
Neinor Homes, S.A. : Quality Control
Neinor Homes, S.A. passed 5 out of 9 key points:
Historical Valuation
Price/Earnings Ratio
Margin Valuation
Peers Valuation
Competitors
| Company | Rational |
|---|---|
| MVC.MC | Metrovacesa S.A. operates as a real estate development company in Spain. It develops and sells residential properties, which include one-family, multi-family, and semi-detached and detached houses; and commercial properties, as … |
| CRN.L | Cairn Homes plc operates as a homebuilder in Ireland. The company develops and sells residential properties. It is also involved in the rental of properties. The company was incorporated in … |
| GLE.L | MJ Gleeson plc engages in low-cost house building and land promotion activities in the United Kingdom. The company operates through two divisions, Gleeson Homes and Gleeson Land. It also engages … |
| KOF.PA | Kaufman & Broad S.A. operates as a property developer and builder in France. It designs, develops, builds, and sells single-family homes in communities, apartments, offices, shops, and logistics platforms and … |
| AEDAS.MC | Aedas Homes, S.A. engages in the development of residential homes in Spain. It focuses on multi- and single-family homes. The company was incorporated in 2016 and is based in Madrid, … |
Peers Metrics
DCF BETA
Expected Cash-Flows
Scoring Insights
Peers Group Analysis
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Neinor Homes
A-Score
1-Year Total Return ->
🥈
Cairn Homes
A-Score
1-Year Total Return ->
🥉
Metrovacesa
A-Score
1-Year Total Return ->
4
Aedas Homes
A-Score
1-Year Total Return ->
5
Kaufman & Broad
A-Score
1-Year Total Return ->
6
