Multiplan Empreendimentos Imobiliários S.A (MULT3) Fair Value & Analysis
Real Estate · BR · Market cap R$14.9B (≈ $2.9B) · ISIN BRMULTACNOR5
What is Multiplan Empreendimentos Imobiliários S.A really worth?
A solid business, trading 16% below our fair value of R$36.26.
Strengths
For context
Fair value as of: Aug 30, 2026
From 16 valuation models · updated 6 days ago
Share price +4.4% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- A fairly wide model range (R$21.98 to R$45.32) leaves room in how you read the outcome.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.
How to read this chart
60‑month range R$13.94 – R$35.46 · fair‑value band R$21.98 – R$45.32 · the R$30.35 price screens below the R$36.26 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 30, 2026.
Analysis
Multiplan Empreendimentos Imobiliários S.A (MULT3) currently trades at R$30.35, while our model-based Fair Value estimate is R$36.26, implying the stock looks roughly 16.3% undervalued today. The Quality Score stands at 71/100 (solid quality), in the Real Estate sector. Bull case: the DCF Models group reads highest at a median of R$63.15 per share, and 10 of the 16 models we run sit above the R$30.35 price. Bear case: the Asset-Based group reads lowest at R$8.59, and 6 of the 16 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Multiplan Empreendimentos Imobiliários S.A generated revenue of R$3.0B at a net margin of 40.2%. Revenue grew 57.3% year over year. It earns a return on equity of 20.0%. Net debt stands at R$5.4B. Fundamentals as of Aug 30, 2026
Our scenario range runs from R$21.98 (bear case) to R$45.32 (bull case); at R$30.35, the current price sits within 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 16% below its 52-week high and 25% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −23% fair-value upside, at 19%, MULT3 screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly R$1.06 per share, which is 2.9 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 16 models by family
Widest divergence: DCF Models (R$63.15) versus Asset-Based (R$8.59). Highest evidence: FCF DCF (75).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 65 · Market factors (momentum, volatility) 58
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Multiplan Empreendimentos Imobiliários S.A. engages in the planning, implementation, development, and sale of real estate projects in Brazil. The company develops residential or commercial properties, including urban shopping malls.
Full company description
Multiplan Empreendimentos Imobiliários S.A. engages in the planning, implementation, development, and sale of real estate projects in Brazil. The company develops residential or commercial properties, including urban shopping malls. It is also involved in the purchase and sale of real estate properties, as well as acquisition and disposal of real estate rights, and its operation through leasing. In addition, the company provides management and administrative services for its own shopping malls or third party; technical advisory and support services concerning real estate matters; and civil construction, construction works execution, and engineering and related services. Further, it engages in the planning, development, management, promotion, and intermediation of real estate projects; import and export of goods and services related to its activities; generation of electric power; vehicle manufacturing and parking services; entertainment services; manage and operate theatres; and administration and promotion services. Additionally, the company engages in promotion, organization, production, agency, programming and execution of sporting, artistic and cultural events, shows, and spectacles; manages sporting, artistic and cultural events; and rental of sound, light and any other equipment. Multiplan Empreendimentos Imobiliários S.A. was founded in 1974 and is based in Rio De Janeiro, Brazil.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Multiplan Empreendimentos Imobiliários S.A reported revenue of R$2.7B in FY2025 versus R$1.3B in FY2021, a compound +20.8%/yr. Reported net income was R$1.1B in FY2025, compounding +26.0%/yr from FY2021.
of which total revenue +9.3 % · buybacks/dilution +0.3 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
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Peer Group
Real Estate Services · 523 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.
Valuation Multiples vs Real Estate Services median · lower = cheaper
Strength profile in five axes (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.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| CBRE Group CBRE | $148.74 | $69.47 | −53% |
| Vonovia SE VNA | €19.85 | €36.67 | +85% |
| Cellnex Telecom, S.A CLNX | €27.47 | €25.46 | −7% |
| KE Holdings BEKE | $17.42 | $6.57 | −62% |
| Jones Lang LaSalle Incorporated JLL | $378.01 | $290.25 | −23% |
| Swire Properties Limited 1972 | HK$24.84 | HK$5.12 | −79% |
| CoStar Group CSGP | $32.22 | $4.64 | −86% |
| China Resources Mixc Lifestyle Services Limited 1209 | HK$39.84 | HK$34.95 | −12% |
| CapitaLand Investment Limited 9CI | 2.66 SGD | 0.4900 SGD | −82% |
| Plaza S.A MALLPLAZA | 4,040 CLP | 4,571 CLP | +13% |
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