| Company Name: | Gafisa SA Shares American Deposit Receipt Representing 2 Shares | | Ticker Symbol: | GFA | | | WWW Address: | www.gafisa.com.br | | CEO: | Wilson Amaral de Oliveira | | No. of Employees: | 3,916 | | Common Issue Type: | AD | | Business Description: | The Company is a homebuilder in Brazil. It is engaged in the development of residential buildings, land subdivisions and affordable entry-level housing. It also provides construction services to third parties.
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| | | Industry Information: | MATERIALS & CONSTRUCTION - Residential Construction [more like this] |
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| Price | Day Change | Bid | Ask | Open | High | Low | Volume | | 34.59 |  1.22 | 34.56 | 34.59 | 33.85 | 33.68 | 32.38 | 426271 |
| Market Cap (mil) | Shares Outstanding (mil) | Beta | EPS | DPS | P/E | Yield | 52-Wks-Range |
| 2,248.4 | 65.0 | 3.02 | 0.73 | 0.22 | 40.0 | 0.5 | 37.62 - 5.88 |
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| KEY FIGURES (Latest Twelve Months - LTM) | | Yesterday's Close | 33.37 | $ | | PE Ratio - LTM | 40.0 | |
| Market Capitalisation | 2,169.1 | mil |
| Latest Shares Outstanding | 65.0 | mil |
| Earnings pS (EPS) | 0.73 | $ |
| Dividend pS (DPS) | 0.22 | ¢ |
| Dividend Yield | 0.5 | % |
| Dividend Payout Ratio | 31 | % |
| Revenue per Employee | 190,581 | $ |
| Effective Tax Rate | 20.7 | % |
| Float | 0.0 | mil |
| Float as % of Shares Outstanding | 0.0 | % |
| Foreign Sales | 0 | mil |
| Domestic Sales | 0 | mil |
| Selling, General & Adm/tive (SG&A) as % of Revenue | 19.20 | % |
| Research & Devlopment (R&D) as % of Revenue | 0.00 | % |
| Gross Profit Margin | 25.4 | % |
| EBITDA Margin | 6.1 | % |
| Pre-Tax Profit Margin | 9.3 | % |
| Assets Turnover | 0.3 | % |
| Return on Assets (ROA) | 1.2 | % |
| Return on Equity (ROE) | 4.4 | % |
| Return on Capital Invested (ROCI) | 2.2 | % |
| Current Ratio | 2.3 | |
| Leverage Ratio (Assets/Equity) | 3.7 | |
| Interest Cover | 1.9 | |
| Total Debt/Equity (Gearing Ratio) | 1.31 | |
| LT Debt/Total Capital | 50.0 | % |
| Working Capital pS | 14.96 | $ |
| Cash pS | 8.29 | $ |
| Book-Value pS | 13.48 | $ |
| Tangible Book-Value pS | 13.42 | $ |
| Cash Flow pS | 1.01 | $ |
| Free Cash Flow pS | -5.95 | $ |
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| KEY FIGURES (LTM): Price info |
| Price/Book Ratio | 2.48 | |
| Price/Tangible Book Ratio | 2.49 | |
| Price/Cash Flow | 33.1 | |
| Price/Free Cash Flow | -5.6 | |
| P/E as % of Industry Group | 0.0 | % |
| P/E as % of Sector Segment | 0.0 | % |
| | | Balance Sheet (at a glance) in Millions |
| | | | | | DIVIDEND INFO | | Dividend Declared Date | 04/26/2009 |
| Dividend Ex-Date | 05/03/2009 |
| Dividend Record Date | 05/05/2009 |
| Dividend Pay Date | 11/23/2009 |
| Dividend Amount | 163 |
| Type of Payment | Cash Payment |
| Dividend Rate | 0.16 |
| Current Dividend Yield | 0.5 |
| 5-Y Average Dividend Yield | 0.0 |
| Payout Ratio | 31.0 |
| 5-Y Average Payout Ratio | 6.0 |
|  | | Share price performance previous 3 years |
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 | | | Share price performance intraday |
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| PRICE/VOLUME | High | Low | Close | % Price Chg | % Price Chg vs. Mkt. | Avg. Daily Vol | Total Vol |
| 1 Week | - | - | - | -1.1 | 99 | 9,472 | 42,056 |
| 4 Weeks | 36.46 | 28.46 | 34.66 | -3.7 | 95 | 11,382 | 227,633 |
| 13 Weeks | 37.62 | 25.80 | 30.83 | 8.2 | 102 | 10,380 | 664,318 |
| 26 Weeks | 37.62 | 14.71 | 17.98 | 85.6 | 151 | 8,637 | 1,096,946 |
| 52 Weeks | 37.62 | 5.88 | 5.41 | 516.8 | 452 | 7,780 | 1,952,663 |
| YTD | 37.62 | 7.08 | - | 260.4 | 298 | 7,926 | 1,783,412 |
| Moving Average | 5-Days | 10-Days | 10-Weeks | 30-Weeks | 200-Days | Beta (60-Mnth) | Beta (36-Mnth) |
| 33.87 | 33.78 | 32.45 | 25.02 | 21.15 | 3.02 | 3.02 |
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| GROWTH RATES | 5-Year
Growh | R² of 5-Year Growth | 3-Year
Growth |
| Revenue | 0.00 | 0.0 | 46.70 |
| Income | 0.00 | 0.0 | 7.94 |
| Dividend | 0.00 | 0.0 | 0.00 |
| Capital Spending | 0.00 | NA | 172.90 |
| R&D | 0.00 | NA | 0.00 |
| Normalized Inc. | 0.00 | NA | -0.59 |
| | | CHANGES | YTD vs.
Last YTD | Curr Qtr vs.
Qtr 1-Yr ago | Annual vs.
Last Annual |
| Revenue % | 97.0 | 150.3 | 9.1 |
| Earnings % | 20.7 | 78.9 | -26.1 |
| EPS % | 19.7 | 79.5 | -26.4 |
| EPS $ | 0.22 | 0.24 | -0.26 |
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| SOLVENCY RATIOS | | SHORT-TERM SOLVENCY RATIOS (LIQUIDITY) |
| Net Working Capital Ratio | 44.20 |
| Current Ratio | 2.8 |
| Quick Ratio (Acid Test) | 1.5 |
| Liquidity Ratio (Cash) | 0.46 |
| Receivables Turnover | 1.5 |
| Average Collection Period | 240 |
| Working Capital/Equity | 151.8 |
| Working Capital pS | 15.78 |
| Cash-Flow pS | 1.05 |
| Free Cash-Flow pS | -5.82 |
| FINANCIAL STRUCTURE RATIOS |
| Altman's Z-Score Ratio | 1.80 |
| Financial Leverage Ratio (Assets/Equity) | 3.4 |
| Debt Ratio | 70.9 |
| Total Debt/Equity (Gearing Ratio) | 1.37 |
| LT Debt/Equity | 0.79 |
| LT Debt/Capital Invested | 90.0 |
| LT Debt/Total Liabilities | 32.4 |
| Interest Cover | 3.5 |
| Interest/Capital Invested | 1.45 |
| | | | VALUATION RATIOS | | MULTIPLES |
| PQ Ratio | 2.89 |
| Tobin's Q Ratio | 0.91 |
| Current P/E Ratio - LTM | 40.00 |
| Enterprise Value (EV)/EBITDA | 55.95 |
| Enterprise Value (EV)/Free Cash Flow | -6.86 |
| Dividend Yield | 0.5 |
| Price/Tangible Book Ratio - LTM | 2.49 |
| Price/Book Ratio - LTM | 2.48 |
| Price/Cash Flow Ratio | 33.1 |
| Price/Free Cash Flow Ratio - LTM | -5.6 |
| Price/Sales Ratio | 1.77 |
| P/E Ratio (1 month ago) - LTM | 42.0 |
| P/E Ratio (26 weeks ago) - LTM | 25.7 |
| P/E Ratio (52 weeks ago) - LTM | 3.6 |
| 5-Y High P/E Ratio | 0.0 |
| 5-Y Low P/E Ratio | 0.0 |
| 5-Y Average P/E Ratio | 0.0 |
| Current P/E Ratio as % of 5-Y Average P/E | 0 |
| P/E as % of Industry Group | 0.0 |
| P/E as % of Sector Segment | 0.0 |
| Current 12 Month Normalized P/E Ratio - LTM | 56.4 |
| PER SHARE FIGURES |
| LT Debt pS | 8.21 |
| Current Liabilities pS | 8.56 |
| Tangible Book Value pS - LTM | 13.42 |
| Book Value pS - LTM | 13.48 |
| Capital Invested pS | 19.04 |
| Cash pS - LTM | 8.29 |
| Cash Flow pS - LTM | 1.01 |
| Free Cash Flow pS - LTM | -5.95 |
| Earnings pS (EPS) | 0.73 |
| | | | OPERATING RATIOS | | PROFITABILITY RATIOS |
| Free Cash Flow Margin | -51.86 |
| Free Cash Flow Margin 5YEAR AVG | -33.52 |
| Net Profit Margin | 6.3 |
| Net Profit Margin - 5YEAR AVRG. | 7.3 |
| Equity Productivity | 1.08 |
| Return on Equity (ROE) | 6.8 |
| Return on Equity (ROE) - 5YEAR AVRG. | 7.6 |
| Capital Invested Productivity | 0.60 |
| Return on Capital Invested (ROCI) | 3.8 |
| Return on Capital Invested (ROCI) - 5YEAR AVRG. | 4.7 |
| Assets Productivity | 0.40 |
| Return on Assets (ROA) | 2.0 |
| Return on Assets (ROA) - 5YEAR AVRG. | 2.9 |
| Gross Profit Margin | 25.4 |
| Gross Profit Margin - 5YEAR AVRG. | 31.3 |
| EBITDA Margin - LTM | 6.1 |
| EBIT Margin - LTM | 16.0 |
| Pre-Tax Profit Margin | 12.1 |
| Pre-Tax Profit Margin - 5YEAR AVRG. | 10.5 |
| Effective Tax Rate | 20.7 |
| Effective Tax Rate - 5YEAR AVRG. | 11.8 |
| EFFICIENCY RATIOS |
| Cash Conversion Cycle | 297 |
| Revenue per Employee | 190,581 |
| Net Income per Employee | 12,037 |
| Average Collection Period | 297 |
| Receivables Turnover | 1.5 |
| Day's Inventory Turnover Ratio | 0 |
| Inventory Turnover | 0.0 |
| Inventory/Sales | 0.0 |
| Accounts Payble/Sales | 5.63 |
| Assets/Revenue | 2.50 |
| Net Working Capital Turnover | 0.71 |
| Fixed Assets Turnover | 0.99 |
| Total Assets Turnover | 0.4 |
| Revenue per $ Cash | 2.87 |
| Revenue per $ Plant | 34.57 |
| Revenue per $ Common Equity | 1.08 |
| Revenue per $ Capital Invested | 0.60 |
| Selling, General & Adm/tive (SG&A) as % of Revenue | 19.3 |
| SG&A Expense as % of Revenue - 5YEAR AVRG. | 18.3 |
| Research & Devlopment (R&D) as % of Revenue | 0.0 |
| R&D Expense as % of Revenue - 5YEAR AVRG. | 0.0 |
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