Revenue growth remains highly volatile, swinging from 0.0% to 36.9% across recent periods, while gross margins demonstrate structural resilience by consistently hovering around the 60% level.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 | Jun'10 | Jun'09 | Jun'08 | Jun'07 | Jun'06 | Jun'05 | Jun'04 | Jun'03 | Jun'02 | Jun'01 | Jun'00 | Jun'99 | Jun'98 |
|---|
| Sales/Revenue | 541.69B | 490.53B | 458.06B | 462.49B | 256.98B | 45.88B | 45.88B | 28B | 78.19B | 50.86B | 12.92B | 3.4B | 2.85B | 2.19B | 1.79B | 1.44B | 1.32B | 1.22B | 1.08B | 721.93M | 578.32M | 369.73M | 261.69M | 214.09M | 216.9M | 173.73M | 167.65M | 200.9M | 172.82M |
| Revenue Growth % | 10.45% | 7.09% | -0.96% | 79.97% | 460.11% | 0% | 63.83% | -64.18% | 53.73% | 293.77% | 279.55% | 19.61% | 30.08% | 22.17% | 24.16% | 8.96% | 8.42% | 12.57% | 50.19% | 24.83% | 56.42% | 41.28% | 22.23% | -1.29% | 24.85% | 3.63% | -16.55% | 16.25% | - |
| Cost of Goods Sold | 205.84B | 192.12B | 152.3B | 159.56B | 97.04B | 23.2B | 23.2B | 10.46B | 49.11B | 35.37B | 7.04B | 1.37B | 1.35B | 1.09B | 858.66M | 600.75M | 475.3M | 508.51M | 464.22M | 304.55M | 244.1M | 166.73M | 147.92M | 143.73M | 124.56M | 87.94M | 62.44M | 92.05M | 79.88M |
| COGS % of Revenue | - | 39.17% | 33.25% | 34.5% | 37.76% | 50.58% | 50.58% | 37.36% | 62.81% | 69.55% | 54.48% | 40.23% | 47.59% | 49.73% | 47.96% | 41.66% | 35.92% | 41.66% | 42.82% | 42.19% | 42.21% | 45.1% | 56.52% | 67.13% | 57.43% | 50.62% | 37.24% | 45.82% | 46.22% |
| Gross Profit | 335.84B | 298.41B | 305.75B | 302.93B | 159.94B | 22.68B | 22.68B | 17.54B | 29.07B | 15.49B | 5.88B | 2.03B | 1.49B | 1.1B | 931.66M | 841.17M | 848.03M | 712.08M | 620.02M | 417.38M | 334.22M | 203M | 113.78M | 70.37M | 92.34M | 85.79M | 105.21M | 108.85M | 92.94M |
| Gross Margin % | 62% | 60.83% | 66.75% | 65.5% | 62.24% | 49.42% | 49.42% | 62.64% | 37.19% | 30.45% | 45.52% | 59.77% | 52.41% | 50.27% | 52.04% | 58.34% | 64.08% | 58.34% | 57.18% | 57.81% | 57.79% | 54.9% | 43.48% | 32.87% | 42.57% | 49.38% | 62.76% | 54.18% | 53.78% |
| Gross Profit Growth % | - | -2.4% | 0.93% | 89.4% | 605.33% | 0% | 29.26% | -39.66% | 87.71% | 163.42% | 189.09% | 36.42% | 35.6% | 18.02% | 10.76% | -0.81% | 19.09% | 14.85% | 48.55% | 24.88% | 64.64% | 78.42% | 61.69% | -23.79% | 7.63% | -18.46% | -3.34% | 17.11% | - |
| Operating Expenses | -76.68B | 266B | 590.79B | 415.27B | -49.63B | 43.71B | 43.71B | 64.41B | -23M | 12.1B | -14.02B | -3.42B | 253M | 23.93M | 174.88M | 255.77M | 308.3M | 416.36M | 365.18M | 223.37M | 131.57M | 61.9M | 8.7M | 50.14M | 140.67M | 46.42M | 59.73M | 48.38M | 43.79M |
| OpEx % of Revenue | - | 54.23% | 128.98% | 89.79% | -19.31% | 95.26% | 95.26% | 229.99% | -0.03% | 23.8% | -108.57% | -100.59% | 8.89% | 1.09% | 9.77% | 17.74% | 23.3% | 34.11% | 33.68% | 30.94% | 22.75% | 16.74% | 3.32% | 23.42% | 64.86% | 26.72% | 35.63% | 24.08% | 25.34% |
| Selling, General & Admin | 97.35B | 91.27B | 69.81B | 99.4B | 42.41B | 10.24B | 10.24B | 5.71B | 19.21B | 14.47B | 3.09B | 530M | 443M | 300.97M | 259.12M | 307.06M | 380.69M | 383.53M | 369.42M | 249.32M | 155.9M | 107.56M | 73.52M | 67.67M | 73.87M | 43.19M | 46.43M | 38.38M | 35.09M |
| SG&A % of Revenue | - | 18.61% | 15.24% | 21.49% | 16.51% | 22.32% | 22.32% | 20.37% | 24.57% | 28.46% | 23.92% | 15.57% | 15.57% | 13.76% | 14.47% | 21.3% | 28.77% | 31.42% | 34.07% | 34.54% | 26.96% | 29.09% | 28.1% | 31.61% | 34.06% | 24.86% | 27.69% | 19.1% | 20.31% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 174.73B | 520.98B | 315.87B | -92.05B | 33.47B | 33.47B | 58.7B | -19.23B | -2.37B | -17.11B | -3.95B | -190M | -277.04M | -84.24M | -51.29M | -72.39M | 32.83M | -4.24M | -25.95M | -24.33M | -45.66M | -64.82M | -17.53M | 66.8M | 3.23M | 13.3M | 9.99M | 8.7M |
| Operating Income | 412.53B | 32.4B | -285.04B | -112.35B | 209.57B | -21.03B | -21.03B | -46.86B | 29.1B | 3.38B | 19.9B | 5.46B | 1.24B | 1.08B | 756.78M | 585.4M | 539.73M | 295.72M | 254.84M | 194.01M | 202.65M | 141.09M | 105.08M | 20.23M | -48.34M | 39.37M | 45.48M | 60.47M | 49.15M |
| Operating Margin % | 76.16% | 6.61% | -62.23% | -24.29% | 81.55% | -45.84% | -45.84% | -167.34% | 37.22% | 6.66% | 154.1% | 160.36% | 43.51% | 49.18% | 42.27% | 40.6% | 40.79% | 24.23% | 23.5% | 26.87% | 35.04% | 38.16% | 40.15% | 9.45% | -22.29% | 22.66% | 27.13% | 30.1% | 28.44% |
| Operating Income Growth % | - | 111.37% | -153.71% | -153.61% | 1096.5% | 0% | 55.12% | -261.05% | 759.62% | -82.99% | 264.72% | 340.79% | 15.09% | 42.13% | 29.28% | 8.46% | 82.52% | 16.04% | 31.36% | -4.26% | 43.63% | 34.28% | 419.52% | 141.84% | -222.78% | -13.44% | -24.79% | 23.04% | - |
| EBITDA | 425.89B | 42.18B | -275.91B | -102.51B | 217.03B | -18.77B | -18.77B | -46.3B | 38.73B | 11B | 21.43B | 5.49B | 1.46B | 1.3B | 925.66M | 739.53M | 698.84M | 429.09M | 368.41M | 290.07M | 284.05M | 216.02M | 173.83M | 99.44M | -26.75M | 51.18M | 58.78M | 70.46M | 57.85M |
| EBITDA Margin % | 78.62% | 8.6% | -60.23% | -22.16% | 84.45% | -40.9% | -40.9% | -165.34% | 49.53% | 21.62% | 165.95% | 161.33% | 51.46% | 59.24% | 51.7% | 51.29% | 52.81% | 35.15% | 33.98% | 40.18% | 49.12% | 58.43% | 66.42% | 46.45% | -12.33% | 29.46% | 35.06% | 35.07% | 33.47% |
| EBITDA Growth % | 600.81% | 115.29% | -169.16% | -147.23% | 1256.55% | 0% | 59.47% | -219.57% | 252.12% | -48.69% | 290.42% | 275% | 12.99% | 39.97% | 25.17% | 5.82% | 62.87% | 16.47% | 27.01% | 2.12% | 31.49% | 24.27% | 74.81% | 471.75% | -152.27% | -12.94% | -16.58% | 21.81% | - |
| D&A (Non-Cash Add-back) | 13.37B | 9.78B | 9.13B | 9.84B | 7.45B | 2.27B | 2.27B | 560M | 9.63B | 7.61B | 1.53B | 33M | 226M | 220.02M | 168.88M | 154.13M | 159.1M | 133.37M | 113.57M | 96.06M | 81.4M | 74.93M | 68.75M | 79.21M | 21.59M | 11.81M | 13.3M | 9.99M | 8.7M |
| EBIT | 457.28B | 203.04B | -55.46B | 44.55B | 368.06B | -1.72B | -1.72B | -54.83B | 3.79B | 8.89B | 17.92B | 4.34B | -424M | 751.01M | 620.19M | 675.12M | 672.78M | 334.58M | 256.89M | 194.01M | 202.65M | 141.09M | 105.08M | 20.23M | -48.34M | 39.37M | 45.48M | 60.47M | 49.15M |
| Net Interest Income | -77.92B | -47.94B | -16.46B | -39.55B | -61.67B | -21.38B | 16.16M | 22.49M | 37.94M | 45.57M | 63.99M | -633M | 11.11M | 7.74M | 5.99M | 4.99M | -126.2M | -119.05M | -82.14M | -43.36M | 4.25M | -12.21M | 0 | 0 | -6.61M | 0 | 0 | 0 | 0 |
| Interest Income | 5.51B | 3.6B | 23.9B | 5.52B | 4.73B | 1.62B | 16.16M | 22.49M | 37.94M | 45.57M | 63.99M | 0 | 11.11M | 7.74M | 5.99M | 4.99M | 20.2M | 1.91M | 13.86M | 21.66M | 4.25M | 0 | 0 | 0 | 9.91M | 0 | 0 | 0 | 0 |
| Interest Expense | 83.43B | 51.54B | 40.36B | 45.07B | 66.4B | 23B | 0 | 0 | 0 | 0 | 0 | 627.77M | 0 | 0 | 0 | 0 | 146.4M | 120.96M | 96M | 65.01M | 0 | 12.21M | 0 | 0 | 16.52M | 0 | 0 | 0 | 0 |
| Other Income/Expense | 77.87B | 126.43B | 173.31B | 94.06B | 92.08B | -3.69B | -3.69B | -15.15B | -43.46B | -7.68B | -4.32B | -1.75B | -2.13B | -645.58M | -415.17M | -141.01M | -13.35M | -82.09M | -93.95M | 27.9M | -19.89M | 38.43M | 21.78M | 266.36M | -454.23M | -67.43M | -32.88M | -11.99M | -10.76M |
| Pretax Income | 386.76B | 158.83B | -111.73B | -18.29B | 301.65B | -24.72B | -24.72B | -62.01B | -14.37B | -4.3B | 15.59B | 3.71B | -895M | 430.06M | 341.61M | 444.39M | 526.38M | 213.62M | 160.89M | 221.91M | 182.76M | 179.53M | 126.85M | 286.59M | -502.56M | -28.06M | 12.6M | 48.48M | 38.39M |
| Pretax Margin % | 71.4% | 32.38% | -24.39% | -3.95% | 117.38% | -53.89% | -53.89% | -221.45% | -18.37% | -8.45% | 120.67% | 109.05% | -31.46% | 19.66% | 19.08% | 30.82% | 39.78% | 17.5% | 14.84% | 30.74% | 31.6% | 48.56% | 48.47% | 133.86% | -231.71% | -16.15% | 7.51% | 24.13% | 22.21% |
| Income Tax | 106.53B | 45.08B | -64.6B | -334.19B | 22.18B | 76.62B | 76.62B | -6.76B | -11.13B | 1.49B | 6.33B | 1.58B | -64M | 132.85M | 116.94M | 91.2M | 148.43M | 80.33M | 78.11M | 85.54M | 58.86M | 53.19M | 25.81M | -1.41M | 10.24M | 2.59M | 6.69M | 4M | 1.6M |
| Effective Tax Rate % | 27.55% | 28.38% | 57.82% | 1827.28% | 7.35% | -309.9% | -309.9% | 10.9% | 77.51% | -34.71% | 40.58% | 42.6% | 7.15% | 30.89% | 34.23% | 20.52% | 28.2% | 37.61% | 48.55% | 38.55% | 32.2% | 29.63% | 20.34% | -0.49% | -2.04% | -9.22% | 53.12% | 8.25% | 4.17% |
| Net Income | 267.57B | 109.57B | -40.61B | 312.05B | 276.74B | -105.8B | -105.8B | -54.99B | 21.05B | -1.12B | 9.53B | 1.9B | -786M | 238.74M | 203.89M | 294.79M | 334.5M | 158.63M | 54.88M | 104.66M | 96.68M | 103.2M | 88.16M | 288M | -512.81M | -30.65M | 5.9M | 44.48M | 36.79M |
| Net Margin % | 49.4% | 22.34% | -8.87% | 67.47% | 107.69% | -230.6% | -230.6% | -196.36% | 26.92% | -2.2% | 73.82% | 55.77% | -27.63% | 10.92% | 11.39% | 20.44% | 25.28% | 13% | 5.06% | 14.5% | 16.72% | 27.91% | 33.69% | 134.52% | -236.43% | -17.64% | 3.52% | 22.14% | 21.29% |
| Net Income Growth % | 141.02% | 369.83% | -113.01% | 12.76% | 361.57% | 0% | -92.41% | -361.26% | 1979.2% | -111.75% | 402.32% | 341.48% | -429.23% | 17.09% | -30.83% | -11.87% | 110.86% | 189.08% | -47.57% | 8.25% | -6.32% | 17.06% | -69.39% | 156.16% | -1573.21% | -619.03% | -86.72% | 20.89% | - |
| Net Income (Continuing) | 280.23B | 113.75B | -47.13B | 315.9B | 279.47B | -101.34B | -101.34B | -55.25B | -3.23B | -5.79B | 9.26B | 2.13B | -831M | 297.21M | 224.68M | 353.19M | 377.95M | 133.29M | 82.78M | 104.66M | 96.68M | 103.2M | 88.16M | 288M | -512.81M | -30.65M | 5.9M | 44.48M | 36.79M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | -31.55B | -8.11B | -2.38B | 36.44B | 8.84B | 817M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 115.88B | 80.07B | 73.79B | 82.97B | 23.44B | 34.26B | 34.26B | 53.74B | 37.12B | 21.47B | 12.39B | 376.64M | 548.35M | 385.15M | 362.93M | 316.83M | 563.11M | 464.38M | 456.18M | 440.15M | 450.49M | 445.65M | 471.84M | 443.73M | 77.2M | 58.46M | 57.56M | 57.77M | 54.69M |
| EPS (Diluted) | 52456.48 | 18515.00 | -392.50 | 37.00 | 3391.40 | -1831.90 | 822.50 | -1007.90 | -294.90 | -190.70 | 134.10 | -0.70 | -13.50 | 4.10 | 4.80 | 4.80 | 5.70 | 2.70 | 1.00 | 1.90 | 2.30 | 2.30 | 1.60 | 13.40 | -26.10 | -1.40 | 0.30 | 2.10 | 2.10 |
| EPS Growth % | -37.78% | 4817.2% | -1160.81% | -98.91% | 285.13% | -322.72% | 181.61% | -241.78% | -54.64% | -242.21% | 19257.14% | 94.81% | -429.27% | -14.58% | 0% | -15.79% | 111.11% | 170% | -47.37% | -17.39% | 0% | 43.75% | -88.06% | 151.34% | -1764.29% | -566.67% | -85.71% | 0% | - |
| EPS (Basic) | - | 21140.00 | -392.60 | 40.60 | 3655.80 | -1831.90 | 827.80 | -1007.90 | -294.90 | -190.70 | 135.00 | -0.70 | -13.50 | 4.10 | 4.80 | 4.80 | 5.70 | 2.70 | 1.00 | 2.30 | 2.50 | 3.60 | 3.90 | 13.40 | -26.10 | -1.40 | 0.30 | 2.10 | 2.10 |
| Diluted Shares Outstanding | 5.1M | 76.51M | 74.2M | 69.09M | 69.83M | 57.76M | 53.48M | 57.5M | 58.65M | 58.25M | 58.65M | 58.55M | 58.35M | 58.62M | 58.62M | 58.62M | 58.62M | 58.62M | 55.64M | 54.18M | 42.54M | 45.54M | 56.85M | 21.52M | 19.62M | 21.47M | 20.73M | 21.17M | 17.22M |
| Basic Shares Outstanding | 5.1M | 76.51M | 74.19M | 69.09M | 69.83M | 57.76M | 53.11M | 57.5M | 58.25M | 58.25M | 58.25M | 58.14M | 58.35M | 58.62M | 58.62M | 58.62M | 58.62M | 58.62M | 55.64M | 45.15M | 39.13M | 28.31M | 22.89M | 21.52M | 19.62M | 21.47M | 20.73M | 21.17M | 17.22M |
| Dividend Payout Ratio | - | - | - | 53.59% | 0.52% | - | - | - | 6.61% | - | - | 3.64% | - | 164.09% | 129.26% | 84.11% | 16.56% | 14.84% | 44.34% | - | - | 9.98% | 5.53% | - | - | - | 272.86% | 25.84% | 34.78% |
Hyperinflationary Accounting Distortions
As reported in recent financial filings, IRS experienced significant revenue fluctuations, with quarterly growth rates swinging from 0.0% to 36.9% over the last ten periods, reflecting the inherent instability of the Argentine market and the company's reliance on transaction-heavy development cycles alongside its core rental income.
The erratic revenue trajectory suggests that the company's top-line performance is less a reflection of organic operational growth and more a byproduct of inflationary adjustments and the timing of property sales. Investors should monitor the sustainability of these revenue streams, as the lack of consistent growth indicates a high sensitivity to the broader Argentine economic cycle.
Based on the provided income statement data, IRS maintains a robust gross margin profile, consistently hovering around the 60% level, which suggests that the company retains significant pricing power within its core portfolio of high-end retail assets despite the challenging macroeconomic environment in Argentina.
This high gross margin indicates that the direct costs associated with maintaining its trophy real estate assets remain well-contained relative to rental income. However, the wide variance between gross and operating margins warrants further investigation into the impact of non-cash inflationary accounting adjustments on reported profitability.
According to the company's reported figures, net income exhibits extreme volatility, including a net loss of $30.2B in 2026Q3, which appears to be heavily influenced by non-operating fair value adjustments and hyperinflationary accounting standards rather than underlying cash-generating capacity of the firm's real estate portfolio.
The disconnect between operating income and net income suggests that investors should exercise caution when relying on headline EPS figures. The presence of significant non-operating items implies that the reported earnings quality is low, necessitating a focus on cash-based metrics to assess true performance.
As indicated by the historical data, the company's operating margins have shown extreme instability, ranging from negative territory to over 140%, which suggests that the firm's profitability is highly susceptible to external shocks and accounting distortions that may mask underlying margin compression in real terms.
Short-sellers would likely focus on the potential for these accounting-driven gains to reverse, exposing a more fragile operational reality. The reliance on fair value revaluations to bolster the bottom line may indicate that the company's true economic value is significantly lower than what is currently reflected in the financial statements.
Quick answers to the most common questions about buying IRS stock.
For fiscal year 2025, IRSA Inversiones y Representaciones Sociedad Anónima (IRS) reported total revenue of $490.53B. This represents a 283731.9% increase compared to $172.8M in 1998.
IRSA Inversiones y Representaciones Sociedad Anónima (IRS) is profitable, generating $109.57B in net income for the fiscal year ending 2025 with a net profit margin of 22.3%.
IRSA Inversiones y Representaciones Sociedad Anónima (IRS) reported an operating income of $32.40B, resulting in an operating profit margin of 6.6%. This margin reflects the operational efficiency of the business before interest and taxes.
IRSA Inversiones y Representaciones Sociedad Anónima (IRS) generated $298.41B in gross profit for the year, representing a gross profit margin of 60.8%. This demonstrates the company's core pricing power and production efficiency.