FinData
Ideas de inversión

Chile

Holdings con descuento

Un holding vale lo que valen sus filiales, menos el descuento que el mercado le cobra por la estructura. FinData valoriza estos casos por suma de partes —capitalización de cada filial cotizada, según lo que la propia empresa declara en su XBRL— en vez de aplicarle un DCF a un consolidado que mezcla negocios sin relación. La idea reúne a los conglomerados chilenos del catálogo.

Empresas
17

El perfil del conjunto es Pro

Los cinco ejes —valor, futuro, pasado, salud y dividendo—, el P/U y el dividend yield de cada empresa se sirven con pase. La lista, los precios y los retornos son abiertos.

Ver el pase

Criterios de entrada

  • Sector declarado: holdings e inversiones
  • Se valorizan por suma de partes cuando las filiales cotizan y la suma cubre al menos el 70% de la capitalización del holding

Qué queda fuera

La suma de partes se abstiene cuando faltan filiales: un holding al que no se le identifica su activo principal no da un número impreciso, da uno absurdo. En esos casos la ficha muestra los otros métodos y no el SOTP.

El conjunto

17 empresas

QUIÑENCO S.A.

$7,5B

Quiñenco es el centro corporativo de uno de los conglomerados de negocios más importantes de Chile, con activos consolidados de aproximadamente US$52.500 millones. Es la entidad controladora de empresas líderes en diversos sectores de la economía chilena. Actualmente, Quiñenco mantiene inversiones en los sectores financiero (Banco de Chile), de bebidas y alimentos (CCU), manufacturero (Invexans yTechpack), energía (Enex), transporte (CSAV) y servicios navieros y portuarios (SM SAAM), principalmente.

Puntaje Pro

QUINENCO

$4.530

7D

+0,66%

1A

+13,74%
Holdings e Inversiones

Quiñenco es el centro corporativo de uno de los conglomerados de negocios más importantes de Chile, con activos consolidados de aproximadamente US$52.500 millones. Es la entidad controladora de empresas líderes en diversos sectores de la economía chilena. Actualmente, Quiñenco mantiene inversiones en los sectores financiero (Banco de Chile), de bebidas y alimentos (CCU), manufacturero (Invexans yTechpack), energía (Enex), transporte (CSAV) y servicios navieros y portuarios (SM SAAM), principalmente.

P/U
Crecimiento
Objetivo
$5.400

ANTARCHILE S.A.

$3,5B

AntarChile SA is a financial holding company, which engages in the investments of tangible and intangible property, forestry, energy, fuel distribution, and fishing. The company was founded on November 11, 1994 and is headquartered in Las Condes, Chile.

Puntaje Pro

ANTARCHILE

$7.638

7D

+0,70%

1A

−3,52%
Holdings e Inversiones

AntarChile SA is a financial holding company, which engages in the investments of tangible and intangible property, forestry, energy, fuel distribution, and fishing. The company was founded on November 11, 1994 and is headquartered in Las Condes, Chile.

P/U
Crecimiento
Objetivo
$9.350

MINERA VALPARAISO S.A.

$1,3B

Minera Valparaíso SA is an investment company, which engages in the generation, distribution, purchase, and sale of electricity. It also engages in the exploration and mining, forestry, port services, and real estate sector. The company was founded on May 12, 1906 and is headquartered in Santiago, Chile.

Puntaje Pro

MINERA

$10.295

7D

+0,44%

1A

−26,79%
Holdings e Inversiones

Minera Valparaíso SA is an investment company, which engages in the generation, distribution, purchase, and sale of electricity. It also engages in the exploration and mining, forestry, port services, and real estate sector. The company was founded on May 12, 1906 and is headquartered in Santiago, Chile.

P/U
Crecimiento
Objetivo

ALMENDRAL S.A.

$466.655M

Almendral SA operates as an investment holding company. The firm engages in the furnishing of telecommunications services, which includes voice and data network, mobile and broadband internet, local and long distance telephony and information technology services such as data center management and business process outsourcing support. It also provides call center services to the corporate market, as well as the Almendral group's companies. Almendral also invests in the real estate and healthcare sectors. The company was founded on June 19, 1981 and is headquartered in Vitacura, Chile.

Puntaje Pro

ALMENDRAL

$25,90

7D

+2,90%

1A

+26,03%
Holdings e Inversiones

Almendral SA operates as an investment holding company. The firm engages in the furnishing of telecommunications services, which includes voice and data network, mobile and broadband internet, local and long distance telephony and information technology services such as data center management and business process outsourcing support. It also provides call center services to the corporate market, as well as the Almendral group's companies. Almendral also invests in the real estate and healthcare sectors. The company was founded on June 19, 1981 and is headquartered in Vitacura, Chile.

P/U
Crecimiento
Objetivo
$26,00

MARITIMA DE INVERSIONES S.A.

$270.240M

Maritima de Inversiones SA engages in the investment activities. It has interest in Cía Electrometalúrgica S.A., a manufacturer of steel parts and parts for mining and balls for grinding; and Cía Sud Americana de Vapores S.A., which engages in cargo shipping business. The company was founded on December 29, 1981 and is headquartered in Santiago, Chile.

Puntaje Pro

MARINSA

$96,00

7D

+1,11%

1A

+1,05%
Holdings e Inversiones

Maritima de Inversiones SA engages in the investment activities. It has interest in Cía Electrometalúrgica S.A., a manufacturer of steel parts and parts for mining and balls for grinding; and Cía Sud Americana de Vapores S.A., which engages in cargo shipping business. The company was founded on December 29, 1981 and is headquartered in Santiago, Chile.

P/U
Crecimiento
Objetivo

NAVARINO S.A.

$237.772M

Navarino SA engages in the development, execution, operations and equity investments, in direct form or hint, in shipping, agricultural, wine producing, agro-industrial, forest, fishing activities, industrial miners, chemistry, of the construction, tourism, means of transport, goods of massive consumption, plastic, food, export, mass media, of cellulose and metallurgical. The company was founded on November 9, 1989 and is headquartered in Santiago, Chile.

Puntaje Pro

NAVARINO

$1.676

7D

−0,05%

1A

−0,05%
Holdings e Inversiones

Navarino SA engages in the development, execution, operations and equity investments, in direct form or hint, in shipping, agricultural, wine producing, agro-industrial, forest, fishing activities, industrial miners, chemistry, of the construction, tourism, means of transport, goods of massive consumption, plastic, food, export, mass media, of cellulose and metallurgical. The company was founded on November 9, 1989 and is headquartered in Santiago, Chile.

P/U
Crecimiento
Objetivo

DUNCAN FOX S.A.

$145.000M

Duncan Fox SA engages in the processing of seafood, provision of hotel services, marketing of fruits and vegetables and real estate development. It operates hotels; and invests in the capital market and develops real estate properties. The company was founded on July 24, 1995 and is headquartered in Santiago, Chile.

Puntaje Pro

DUNCANFOX

$1.450

7D

0,00%

1A

+39,50%
Holdings e Inversiones

Duncan Fox SA engages in the processing of seafood, provision of hotel services, marketing of fruits and vegetables and real estate development. It operates hotels; and invests in the capital market and develops real estate properties. The company was founded on July 24, 1995 and is headquartered in Santiago, Chile.

P/U
Crecimiento
Objetivo

INVERSIONES SIEMEL S.A.

Puntaje Pro

7D

1A

Holdings e Inversiones

Sin descripción de la compañía en el registro del emisor.

P/U
Crecimiento
Objetivo

SOCIEDAD DE INVERSIONES NORTE SUR S.A.

Puntaje Pro

7D

1A

Holdings e Inversiones

Sin descripción de la compañía en el registro del emisor.

P/U
Crecimiento
Objetivo

REBRISA S.A.

Puntaje Pro

7D

1A

Holdings e Inversiones

Sin descripción de la compañía en el registro del emisor.

P/U
Crecimiento
Objetivo

COMPAÑIA DE INVERSIONES LA ESPAÑOLA S.A.

Puntaje Pro

7D

1A

Holdings e Inversiones

Sin descripción de la compañía en el registro del emisor.

P/U
Crecimiento
Objetivo

QUEMCHI S.A.

Puntaje Pro

7D

1A

Holdings e Inversiones

Sin descripción de la compañía en el registro del emisor.

P/U
Crecimiento
Objetivo

INVERSIONES HISPANIA S.A.

Puntaje Pro

7D

1A

Holdings e Inversiones

Sin descripción de la compañía en el registro del emisor.

P/U
Crecimiento
Objetivo

INVERSIONES UNION ESPAÑOLA S.A.

Puntaje Pro

7D

1A

Holdings e Inversiones

Sin descripción de la compañía en el registro del emisor.

P/U
Crecimiento
Objetivo

INVERSIONES UNESPA S.A.

Puntaje Pro

7D

1A

Holdings e Inversiones

Sin descripción de la compañía en el registro del emisor.

P/U
Crecimiento
Objetivo

INVERNOVA S.A.

Puntaje Pro

7D

1A

Holdings e Inversiones

Sin descripción de la compañía en el registro del emisor.

P/U
Crecimiento
Objetivo

INVERSIONES COVADONGA S.A.

Puntaje Pro

7D

1A

Holdings e Inversiones

Sin descripción de la compañía en el registro del emisor.

P/U
Crecimiento
Objetivo

Pertenecer a esta idea no es una recomendación de compra ni una evaluación de calidad: dice que la empresa encaja en la tesis descrita arriba. El análisis de cada una —sus cinco ejes, su valor justo y los métodos que lo sostienen— vive en su ficha.