Ibraco Bhd
Ibraco Bhd is a real estate company engaged in real estate rental, development, and operations, generating revenue primarily through property development and management.
Business. Ibraco Bhd (IBRC.KL) is a real estate company engaged in rental, development, and operations activities. The firm is headquartered in Malaysia and is primarily listed on Bursa Malaysia. Specific details regarding operating segments and geographic revenue mix are not available.
Analyst recommendations
1 analysts · consensus BuyAt a glance
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- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
Ibraco Bhd (IBRC.KL) is a real estate company engaged in rental, development, and operations activities. The firm is headquartered in Malaysia and is primarily listed on Bursa Malaysia. Specific details regarding operating segments and geographic revenue mix are not available.
Ibraco's capital structure is characterized by a debt-to-equity ratio of 0.64, indicating a moderate reliance on debt financing. The company's liquidity position is assessed as medium, with a current ratio of 1.8, suggesting it can cover short-term obligations but with limited buffer. Free cash flow is negative at -685,000 MYR, and operating cash flow is also negative at -12,870,000 MYR, signaling potential liquidity constraints.
Profitability metrics show a return on equity (ROE) of 1.09% and a return on assets (ROA) of 0.54%, both below the industry median for real estate development and operations. The company's net income of 5,296,000 MYR is modest relative to its total assets of 988,449,000 MYR, indicating low asset utilization efficiency.
Geographically, Ibraco's revenue is concentrated in Malaysia, with no disclosed international operations. The company's business is entirely within the real estate sector, with no diversification into other industries. This concentration increases exposure to local economic and regulatory conditions.
Growth prospects are limited, with no significant revenue growth reported in the latest financial period. The company's capital expenditure of -8,361,000 MYR suggests a reduction in investment in new projects, which may signal a slowdown in development activity. Analysts have assigned a mean recommendation of 2.00, indicating a neutral outlook, with no strong buy ratings.
Risk factors include a negative net cash position after subtracting total debt, which could constrain the company's ability to fund operations or pursue new opportunities. The risk of dilution is assessed as low, with no recent signs of share issuance or dilutive financing. However, the company's reliance on debt financing and negative cash flows pose liquidity risks.
Recent filings and transcripts do not indicate any major strategic shifts or new initiatives. The company's focus remains on its core real estate operations, with no disclosed plans for expansion or diversification.
- Ibraco has a moderate debt-to-equity ratio but faces liquidity challenges due to negative operating and free cash flows.
- Profitability metrics are below industry medians, indicating underperformance in asset utilization and returns.
- The company's operations are entirely concentrated in Malaysia, increasing exposure to local economic and regulatory risks.
- Analysts have a neutral outlook, with no strong buy ratings and a mean recommendation of 2.00.
- The risk of dilution is low, but liquidity risks remain due to negative net cash and reliance on debt.
Bull / Bear case
Generated · model-assistedRevenue surged 36.6% year-over-year to MYR 769 million, demonstrating strong top-line growth momentum in the latest fiscal period.
Net income expanded by 46.8% to MYR 71.6 million, outpacing revenue growth and indicating improved profitability efficiency.
Free cash flow skyrocketed 745.3% to MYR 70.6 million, signaling a dramatic recovery in cash generation capabilities.
Operating income grew 53.5% to MYR 132 million, reflecting robust core business performance and operational leverage.
Analysts assign a mean price target of MYR 1.32, implying 14.8% upside from the current market price of MYR 1.15.
Long-term debt increased significantly to MYR 521.6 million, raising concerns about elevated leverage and potential credit risk.
Cash conversion ratio is -2.43, placing the company in the bottom quartile and highlighting poor cash flow quality.
The company faces high credit risk and medium liquidity risk, posing significant financial stability challenges for investors.
In focus — financials by report
Revenue MYR 769.0M, +36,6% YoY; Operating income +53,5% YoY.
- ▍Revenue MYR 769.0M, +36,6% YoY
- ▍Operating income +53,5% YoY
- ▍Net income +46,8% YoY
- ▍Free cash flow +745,2% YoY
- ▍Net margin 9.3%
Revenue MYR 562.8M, +43,6% YoY; Operating income +13,7% YoY.
- ▍Revenue MYR 562.8M, +43,6% YoY
- ▍Operating income +13,7% YoY
- ▍Net income +6,0% YoY
- ▍Free cash flow +246,9% YoY
- ▍Net margin 8.7%
Revenue MYR 391.9M, +44,0% YoY; Operating income +42,0% YoY.
- ▍Revenue MYR 391.9M, +44,0% YoY
- ▍Operating income +42,0% YoY
- ▍Net income +51,4% YoY
- ▍Free cash flow −153,1% YoY
- ▍Net margin 11.7%
Revenue MYR 272.2M, −0,4% YoY; Operating income +24,7% YoY.
- ▍Revenue MYR 272.2M, −0,4% YoY
- ▍Operating income +24,7% YoY
- ▍Net income +29,5% YoY
- ▍Free cash flow −16,3% YoY
- ▍Net margin 11.2%
Revenue MYR 273.4M; Operating income MYR 42.7M.
- ▍Revenue MYR 273.4M
- ▍Operating income MYR 42.7M
- ▍Net margin 8.6%
Valuation FY
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Peer comparison
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Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | 0,10 |
| Revenue | —no estimate | —no estimate | 752,4M MYR |
| Operating income | —no estimate | —no estimate | —no estimate |
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consensus EPS · 26-week trendSell-side observations
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Risk factors
- Net cash is negative after subtracting total debt.
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- Ibraco Bhd Market data — financials · 2026-05-28
- Ibraco Bhd Market data — analyst estimates · 2026-05-28