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    Real Estate - Services
Helbor Empreendimentos S.A.

Helbor Empreendimentos S.A.

HBOR3.SA
Helbor Empreendimentos S.A.BR flagB3 S.A.
1.72
BRL
-0.64
- -
228.23MMarket Cap
Helbor Empreendimentos S.A.
HBOR3.SA
(B3 S.A.)

Recent

price

1.72

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
18.12
21.63
32.54
35.17
29.17
24.89
17.05
7.44
7.01
12.91
2.49
7.14
6.83
9.62
9.57
8.5
8.86
Revenue per Share
3.34
3.92
4.99
5.5
3.84
1.31
-1.95
-4.44
-3.77
-1.04
0.07
0.76
0.38
0.38
0.43
0.08
0.04
Basic EPS, GAAP
-2.06
-4.28
-2.63
-0.73
2.01
-7.04
-4.37
0.05
2.13
1.14
-0.24
1.59
-4.49
0.64
3.97
0.23
-0.05
Free Cash Flow per Basic Share
0.41
0.95
1.3
1.87
2.37
1.91
0.31
- -
- -
- -
- -
0.05
0.18
0.09
0.09
0.14
0.04
Dividend per Share
12.82
15.77
18.09
20.97
22.94
24.92
25.06
17.09
9.45
13.11
3.4
10.56
9.87
9.87
9.88
9.87
9.89
Book Value per Share
12.94
16.67
26.13
30.96
32.37
35.59
35.44
25.77
12.7
16.04
4.29
13.67
16.01
17.86
20.43
21
21.29
Tangible Book Value per Share
54
54
54
55
55
53
53
70
90
100
391
133
133
133
133
133
133
Basic Weighted Avg Shares
987
1,179
1,773
1,945
1,602
1,307
902
518
634
1,291
974
948
906
1,276
1,270
1,128
1,176
Sales/Revenue/Turnover
21.43
20.45
25.86
23.41
19.44
8.44
-6.97
-46.9
-48.31
-3.39
1.18
8.43
7.59
11.35
14.94
9.12
10.04
Operating Margin (%)
31
20
12
5
26
5
4
5
4
9
13
19
23
29
31
15
12
Depreciation Expense
182
213
272
304
211
69
-103
-309
-341
-104
27
101
51
51
57
11
6
Net Income, GAAP
15.79
15.7
13.16
6.55
11.27
20.13
- -
- -
- -
- -
26.74
12.86
14.78
13.96
15.17
20.61
22.08
Effective Tax Rate (%)
18.44
18.1
15.35
15.64
13.16
5.27
-11.44
-59.66
-53.81
-8.07
2.72
10.65
5.63
3.98
4.45
1
0.48
Profit Margin (%)
968
955
1,456
2,138
1,765
2,563
2,205
2,646
1,302
2,473
2,161
1,805
2,016
1,746
1,005
1,669
1,758
Working Capital
259
281
641
762
733
1,190
1,009
1,552
1,075
1,024
968
859
1,172
1,120
1,156
1,330
1,439
LT Debt
728
909
1,425
1,713
1,779
1,870
1,876
1,795
1,149
1,603
1,675
1,814
2,125
2,370
2,711
2,787
2,826
Total Equity
16.54
13.51
18.56
14.94
8.7
2.46
- -
- -
- -
- -
0.27
2.24
1.66
3.02
3.55
1.73
1.96
Return on Invested Capital (%)
16.44
15.36
5.48
5.35
4
1.1
- -
- -
- -
- -
0.34
2.95
1.2
-0.42
0.6
-0.71
-0.44
Return on Capital (%)
32.33
27.39
29.5
28.35
17.42
5.36
-7.83
-24.57
-33.35
-9.63
2.01
7.4
3.77
3.88
4.31
0.86
0.43
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
583
535
518
LT Borrowings
1,272
1,330
1,439
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
133
133
133
Market Capitalization
500
332
316

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
2,744
3,004
3,067
Cash, Cash Equivalents & STI
326
250
288
Accounts Receivable, Net
665
627
583
Inventories
1,619
2,008
2,049
Total Current Liabilities
1,490
1,335
1,309
Payables & Accruals
- -
- -
- -
ST Debt
583
535
518
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
5.82%
10.83%
2.79%
Free Cash Flow
422.37%
-79.58%
-94.17%
Net Income, GAAP
-7.29%
32.4%
-80.07%
Sales/Revenue/Turnover
5%
4.43%
-11.17%
Total Cash Common Dividend
- -
44.93%
55.21%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
296
322
347
306
1,270
2025
299
286
233
311
1,128
2026
347
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.05
0.06
0.07
0.24
0.43
2025
0.06
0.01
- -
- -
0.08
2026
0.01
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.09
2025
- -
- -
- -
- -
0.14
2026
- -
- -
- -
- -
- -
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Business
Helbor Empreendimentos S.A. operates as a leading real estate developer in Brazil, principally engaged in the development, acquisition, sale, and management of residential and commercial real estate properties. Founded in 1977 and headquartered in Mogi das Cruzes, São Paulo, the company maintains a strong presence primarily in the São Paulo Metropolitan Region and extends its operations across approximately 31 Brazilian cities in around ten states and the Federal District. Helbor’s core offerings include residential condominiums, commercial buildings, and mixed-use developments, often delivered through strategic partnerships and special purpose entities with local construction and development firms. The company has a flexible project launch strategy focused mainly on high-potential urban areas where it leverages competitive advantages and solid partnerships. Recent major developments include the launches of Stay Moema and Collage Bela Vista in São Paulo city and the third phase of Patteo Mogilar in Mogi das Cruzes, totaling net sales value (PSV) exceeding BRL 1.3 billion in 2025. Helbor also delivered significant projects such as Reserva Caminhos da Lapa phases 2 and 3, New Patteo Osasco, and Figueira Leopoldo during 2025. In alignment with its strategic refocusing, the company divested non-strategic land assets by selling plots in São Paulo and Mato Grosso do Sul states as part of its asset optimization plan. Helbor emphasizes operational discipline and consistent execution to enhance shareholder returns, targeting urban residential and commercial markets through diversified and high-margin developments, using its established local partnerships and real estate expertise throughout Brazil. These measures reflect Helbor's commitment to consolidating its market position with a strong focus on the São Paulo metropolitan region and expanding selectively into other promising Brazilian real estate markets.