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Multiplan USD

At a glance: strengths & risks
✓Revenue growing (+34% y/y, Q2 2026)✓Profit growing (+77% y/y, Q2 2026)✓Margins improving (66%→83%, Q2 2026)

Sector: Real estate

BR_MULT

Price chart

30.19 BRLDay 1.21%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
30.19 BRL · 1.21%
Market cap
2.9 bn USD

Growth

Δ revenue y/y
34.0%
Δ EBITDA y/y
66.8%

Multiples

P/E (LTM)
10.8x
P/B (FY)
2.5x
P/E (ann.)
8.5x
EV/EBITDA (LTM)
8.3x
EV/EBITDA (ann.)
6.8x

Cash return

Dividend yield
3.7%
FCF yield (LTM)
9.1%

Value creation

fundamental value/yr, % of market cap
Value created / year
+8.3%
↓ details

Liquidity

Daily turnover (listing)
40.1 mln BRL

Shares: yahoo_fundamentals_timeseries/MULT3.SA

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-06-30Q2 2026 (3M)PARTIAL166.8
y/y 34.0%
130.9
y/y 71.0%
6.8
y/y 13.5%
137.7
y/y 66.8%
84.2
y/y 77.5%
-25.00.32602.0
y/y 17.8%
1330.4
y/y 25.6%
25.7%896.3Link
2026-03-31Q1 2026 (3M)PARTIAL164.8
y/y 76.2%
95.9
y/y 49.0%
7.0
y/y -1.4%
102.9
y/y 44.0%
63.0
y/y 51.3%
76.7-2.52649.7
y/y 18.0%
1290.6
y/y 26.2%
20.7%898.4Link
2025-12-31Q4 2025 (3M)PARTIAL167.4
y/y 40.9%
124.8
y/y 55.9%
6.1
y/y —
130.9
y/y 69.9%
78.2
y/y 18.3%
103.0-2.12402.2
y/y 18.6%
1150.3
y/y 25.9%
18.4%852.4Link
2025-09-30Q3 2025 (3M)PARTIAL114.7
y/y 21.3%
75.0
y/y 17.8%
5.9
y/y -31.9%
80.9
y/y 11.9%
41.1
y/y -15.3%
63.0-2.42378.7
y/y 10.7%
1118.5
y/y -12.2%
5.0%822.7Link
2025-06-30Q2 2025 (3M)PARTIAL124.5
y/y 29.4%
76.5
y/y 20.7%
6.0
y/y -0.6%
82.5
y/y 18.9%
47.4
y/y -5.6%
42.2-1.52208.1
y/y 5.9%
1059.2
y/y -17.0%
18.2%786.0Link
2025-03-31Q1 2025 (3M)PARTIAL93.5
y/y -8.6%
64.4
y/y -7.5%
7.1
y/y -33.6%
71.5
y/y -11.0%
41.7
y/y -20.2%
59.1-1.62245.6
y/y -0.6%
1022.6
y/y -26.2%
17.2%752.9Link
2024-12-31Q4 2024 (3M)PARTIAL118.8
y/y -3.1%
80.1
y/y 3.4%
—
y/y -36.2%
77.0
y/y -12.4%
66.1
y/y 2.1%
67.1-1.62025.3
y/y -15.1%
913.9
y/y -36.2%
19.8%686.2Link
2024-09-30Q3 2024 (3M)PARTIAL94.6
y/y -5.8%
63.7
y/y -9.5%
8.7
y/y 25.0%
72.3
y/y -6.4%
48.5
y/y -7.0%
45.1-1.42149.0
y/y 0.2%
1274.0
y/y -6.8%
5.1%378.7Link
2024-06-30Q2 2024 (3M)PARTIAL96.2
y/y -6.8%
63.4
y/y -10.2%
6.1
y/y -17.9%
69.4
y/y -10.9%
50.2
y/y -4.1%
65.5-1.32085.0
y/y -7.9%
1276.9
y/y -11.5%
15.1%377.3Link
2024-03-31Q1 2024 (3M)PARTIAL102.3
y/y 9.8%
69.6
y/y 11.7%
10.7
y/y 3.2%
80.3
y/y 10.5%
52.2
y/y 25.5%
63.4-1.92260.0
y/y 2.0%
1385.1
y/y 2.7%
14.8%389.5Link
2023-12-31Q4 2023 (3M)PARTIAL122.6
y/y —
77.4
y/y —
10.5
y/y —
87.9
y/y —
64.8
y/y —
67.2-1.42384.2
y/y —
1433.0
y/y —
15.1%411.4Link
2023-09-30Q3 2023 (3M)PARTIAL100.4
y/y —
70.4
y/y —
7.0
y/y —
77.3
y/y —
52.2
y/y —
67.1-1.32143.8
y/y —
1367.4
y/y —
5.0%377.8Link
2023-06-30Q2 2023 (3M)PARTIAL103.2
y/y —
70.6
y/y —
7.4
y/y —
77.9
y/y —
52.4
y/y —
48.1-1.22262.7
y/y —
1442.3
y/y —
15.0%404.1Link
2023-03-31Q1 2023 (3M)PARTIAL93.2
y/y —
62.3
y/y —
10.4
y/y —
72.7
y/y —
41.6
y/y —
63.0-1.52216.7
y/y —
1348.7
y/y —
—372.5Link

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

0501001502024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-25%0%25%50%75%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF ($ mln)

02550751002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

02004006008002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Profit is cash-backed
In a typical year of 2023–2025 operating cash flow came to 1.16x of reported net profit; after capex, 1.14x.
year202320242025
cash flow / profit1.16x1.11x1.28x
accruals, % of assets-1.5%-1.2%-2.5%
Last twelve months (to 2025-Q3): 1.10x of profit came back as operating cash flow.
net debt / EBITDA 2.3x
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: +8.3%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-06-30 vs 2025-06-30)
= (138 − 83) × 3.29
45
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (2 868 + 896) ÷ 452
8.3x
3. Target multiple
(Current EV/EBITDA + 7) ÷ 2
= (8.3 + 7) ÷ 2
7.7x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= -110 + 0 + 0 − 0
-110
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (45 × 7.7 + -110) ÷ 2 868
+8.3%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

  • dividends/buybacks not in data - balance cash flow uses net-debt change only
  • growth discounted x0.25: EBITDA grew but net profit FELL while net debt rose - debt-funded growth not reaching equity (interest drag)

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +21% vs -2% the year before — a +23.2 pp move. 3-year CAGR —.
revenue growth by year: 2024 -2% · 2025 +21%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

Peer comparison

Group: Real estate. Each peer is shown as it trades and re-priced onto this company's market (Brazil) by the ratio of our coverage medians.

CompanyMarketCap, $bnEV/EBITDAEV/EBITDA, adjusted
Emaar PropertiesUAE27.64.0x2.8x
Megaworld CorporationPhilippines1.14.3x4.1x
Aldar PropertiesUAE17.06.9x4.8x
Ayala LandPhilippines3.57.5x7.2x
SM Prime HoldingsPhilippines7.910.5x10.1x
Robinsons Land CorporationPhilippines1.316.2x15.6x
Group median7.2x6.0x
Group average8.2x7.4x
This companyBrazil2.98.3x8.3x

Group median 7.2x as traded, 6.0x adjusted; this company 8.3x — a 38% premium.

Group average 8.2x as traded, 7.4x adjusted; against the average this company is at a 12% premium.

At the adjusted group median the market cap would be -36% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 23.2x, Russia 3.9x, South Africa 5.3x, Kazakhstan 5.0x, India 18.0x, Indonesia 4.0x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-09-16; the company's own is live.

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-07-010.2851 BRLEx-dividend: 0.2851 BRL per sharePaidYahoo Finance (ex-div)
2026-03-310.2855 BRLEx-dividend: 0.2855 BRL per sharePaidYahoo Finance (ex-div)
2025-12-300.3065 BRLEx-dividend: 0.3065 BRL per sharePaidYahoo Finance (ex-div)
2025-09-290.2456 BRLEx-dividend: 0.2456 BRL per sharePaidYahoo Finance (ex-div)
2025-06-300.2456 BRLEx-dividend: 0.2456 BRL per sharePaidYahoo Finance (ex-div)
2025-04-010.2252 BRLEx-dividend: 0.2252 BRL per sharePaidYahoo Finance (ex-div)
2025-01-020.4093 BRLEx-dividend: 0.4093 BRL per sharePaidYahoo Finance (ex-div)
2024-12-230.2353 BRLEx-dividend: 0.2353 BRL per sharePaidYahoo Finance (ex-div)
2024-06-270.2337 BRLEx-dividend: 0.2337 BRL per sharePaidYahoo Finance (ex-div)
2024-04-050.1548 BRLEx-dividend: 0.1548 BRL per sharePaidYahoo Finance (ex-div)
2023-12-280.189 BRLEx-dividend: 0.189 BRL per sharePaidYahoo Finance (ex-div)
2023-11-030.225 BRLEx-dividend: 0.225 BRL per sharePaidYahoo Finance (ex-div)
2023-09-280.2061 BRLEx-dividend: 0.2061 BRL per sharePaidYahoo Finance (ex-div)
2023-06-300.2482 BRLEx-dividend: 0.2482 BRL per sharePaidYahoo Finance (ex-div)
2023-03-310.1281 BRLEx-dividend: 0.1281 BRL per sharePaidYahoo Finance (ex-div)
2022-12-270.299 BRLEx-dividend: 0.299 BRL per sharePaidYahoo Finance (ex-div)
2022-09-280.1707 BRLEx-dividend: 0.1707 BRL per sharePaidYahoo Finance (ex-div)
2022-06-270.2472 BRLEx-dividend: 0.2472 BRL per sharePaidYahoo Finance (ex-div)
2021-12-290.4989 BRLEx-dividend: 0.4989 BRL per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Investor reporting (IR): https://www.rad.cvm.gov.br/ENET/frmConsultaExternaCVM.aspx?codigoCVM=20982

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Multiplan — from primary filings.

Frequently asked questions

What is Multiplan's P/E ratio?
Multiplan trades at a P/E of 10.8x (price to trailing 12-month earnings).
What is Multiplan's EV/EBITDA?
Multiplan trades at 8.3x EV/EBITDA.
What is Multiplan's P/B ratio?
Multiplan trades at a P/B of 2.5x.
What is Multiplan's dividend yield?
Multiplan's trailing 12-month dividend yield is 3.7%.
What is Multiplan's return on equity (ROE)?
Multiplan's ROE is 25.7%.
What is Multiplan's market capitalization?
Multiplan's market cap is 2.9 bn USD.

See also: The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map