Cury Construtora e Incorporadora S.A. is a Brazilian real estate construction and development company focused on low and middle income housing. The company focuses its merger and construction operations in the metropolitan regions of São Paulo and Rio de Janeiro. Its main activity is the development of residential projects, with most of its units included in government housing programs, such as Minha Casa Minha Vida. Cury's business model is characterized by operations across the chain, from land prospecting to building and selling units. A central feature of its operation is the use of the associative credit financing model, in partnership with the Federal Savings Bank. This mechanism allows clients to be transferred to the financial agent during the construction phase, which optimizes cash flow and mitigates project sales risks.
Market capitalization, or "market cap", is the aggregate market value of a company represented in a dollar amount. Since it represents the “market” value of a company, it is computed based on the current market price (CMP) of its shares and the total number of outstanding shares.
Enterprise value (EV) measures a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt and any cash or cash equivalents on the company's balance sheet.
The enterprise value-to-revenue multiple (EV/R) is a measure of the value of a stock that compares a company's enterprise value to its revenue. EV/R is one of several fundamental indicators that investors use to determine whether a stock is priced fairly. The EV/R multiple is also often used to determine a company's valuation in the case of a potential acquisition. It's also called the enterprise value-to-sales multiple.
The enterprise value to earnings before interest, taxes, depreciation, and amortization ratio (EV/EBITDA) compares the value of a company—debt included—to the company's cash earnings less non-cash expenses. It's best to use the EV/EBITDA metric when comparing companies within the same industry or sector. Typically, when evaluating a company, an EV/EBITDA value below 10 is seen as healthy.
It follows the same logic as the EV/EBITDA indicator, but instead of EBITDA, EBIT is used, which considers non-cash D&A expenses in the company's operating result.
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