2 AÇÕES QUE EU COMPRARIA SEM MEDO! 🚀 Dividendos, Crescimento

Guys, what I find very interesting about these two companies I'm going to talk about today is that I would probably invest in them, and perhaps I will in the future, but they haven't entered my portfolio yet. Precisely because the portfolio still has a smaller equity base, with more selective contributions, but they are ones I wouldn't stop watching or following. Actually, I've been following these two companies for some time now, ever since I created the channel three years and one month ago. And I have been observing the evolution of these two companies throughout these three years. I think it's very interesting for you to take a look as well, remembering that this is not an investment recommendation or suggestion , all right? And what interested me and made me look at these companies is the growth capacity they have in sectors where other companies can't grow as much. Eh, and also because they serve a public that has a slightly more selective income, so the chances of things going wrong are lower. And these are companies that are in constant motion. We notice that they are companies that want growth, and growth that isn't just backed by leverage or debt; it's growth through cash generation and capital allocation. So that really caught my attention, and it is one of the points an investor should look at when investing in a company, in a stock. When you buy a stock, of course you're looking at dividends and such—there's no harm in doing that, it's actually interesting—but I always have the premise: would I really be a partner in this company? I tend to look at it from that side. And the first company I want to highlight to you here is JHSF. JHSF operates with a process within a very diversified field . The development business is a very cyclical one. The real estate market is a very cyclical market. It varies according to inflation, interest rates, and the heating up or cooling down of supply and demand, but because JHSF is in the high and ultra-high income bracket, we don't see those people going through financial hardship. And with that, they achieve very good profit margins and are able to develop grandiose projects. And they don't stop just at the development business; they also seek revenue growth through what is called recurring income today, which are the contracts from the properties they hold. And also, folks, besides just being properties, there is diversification across segments within these properties. What do I mean by that? I want to say that we see they have stakes in malls, right? It is the occupancy leader with the largest concentration of malls in Latin America . They have their capital division, residential properties, and clubs as well, where they handle these rentals. Then the development branch acts just like a real estate developer, right? There is also the executive aviation services part, which includes hangars, aircraft refueling, as well as hospitality and gastronomy. All of this for the high-income segment. So, what are they managing to do? They are managing to grow their revenues and increase their profits significantly over time. What has been helping to boost this profit, and ensuring the company grows in a healthy way, is the point they reached: having development, but ensuring it is not the main line of business due to its cyclicality, by balancing out that cyclicality with recurring income from malls, hotels, restaurants, clubs, residential, and airports. They have this recurring income entering the company's cash flow every month, and it has grown alongside the expansion of their businesses. So that really caught my attention. You can see that from 2020 to 2025, there has been revenue growth from recurring income, right, every single month. Very interesting. EBIT is also growing a lot , right? In the last 6 months, it grew 25%compared to last year. And the company is working on an expanded future portfolio, meaning new malls, more airports, more residential properties and clubs, more restaurants, and more hotels. And all for the very high-income segment. Very high income, remember, we have better profit margins , we have people with higher purchasing power, where there’s no such thing as a bad time, so there’s always activity. Very good. So, I think the strategy is interesting. In terms of investments, it's possible they might reduce CAPEX a little now, since they have already taken on many projects and also to build up new cash, sometimes to distribute a bit more in dividends. Not to mention the business aspects, which are quite interesting, right? You can notice the malls, for example, are of the highest quality, right? We also see the developments are very interesting as well, with new launches, innovations , and unique projects. This is practically what made me look a little closer at this company over the last 3 years, right? Another point that investors should analyze is leverage, their level of leverage; in other words , is the debt low? The net debt to EBITDA ratio is 0.55 negative. In other words, there is a lot of cash available to cover all these high investment needs, something that in real estate development, a typical development company needs to take on high debt, develop the project, and sell it to pay off that debt. Anyway, it’s a profitable business, it’s very solid, it’s very good, but here I notice that JHSF manages to do this because it has better recurring income, and with that, it can also operate as if it were a real estate fund. Of course, the dividend is wavy, isn't it? But we can see that over the last 2 years, at least, the dividends have been monthly, right? Currently, it's 6 cents per month. I calculated the dividend here for a 6%yield, okay? Eh, but I excluded the last 12 months because 2025 was non-recurring. The end of 2025 into 2026 was non-recurring, okay? So I decided to exclude the last 12 months. So, by averaging the dividends from 2021 to 2025, theoretically, to receive 6%it would be 5.50. The stock rose a lot, 6%is what it’s paying today. Because the stock has risen quite a bit in the last few months, right? It turns out that this dividend yield ends up being a little bit lower. But you have to realize that you are investing in a company that doesn't yet have that perennial character, a company focused on growth. You will see it expand malls , open restaurants, renovate, build clubs, and so on. And what does that bring? Revenue growth, profit growth, and possibly dividend growth. So I wouldn't get too attached to this yield for this company, it's not recommended, but I included it just out of curiosity . Today it is a small cap, it is worth 7.8 billion on the stock exchange, has a good free float, is in the Novo Mercado, has decent liquidity, and 100% tag along. So I look at these qualities in the company to see if it's worth it or not, right? It’s up to you to decide, I’m not the one deciding for you, but I found it quite interesting, and with my investment portfolio a bit more mature in the future, I might look more closely at adding it to my portfolio. Actually, I would even like it if you follow the channel's portfolio, which has a video every week , usually on Saturdays, let me know in the comments if it should be added to the channel's portfolio. I find it very interesting. We are always chatting in the comments, okay, guys? And another company in almost the same segment also bringing good diversification, good management, and good deals, is Alos itself, which recently had an important merger with BR Malls and became the massive holder of 49 shopping centers spread across Brazil today, 43 of which are their own. So that already opens my eyes to an important market share. So it's a company that has many stakes in shopping centers spread throughout our national territory, where it takes these malls, renovates them, and brings in better stores, stores for diverse audiences, both middle and high income. So they are improving a lot. In fact, here in my city, they completely reformulated the shopping mall. I'm talking about Belo Horizonte, Minas Gerais. Shopping Del Rei was a mall that had been completely neglected, you know? Alos came in, reformulated the mall, and the mall became practically a new place. They kept only the structure and I always see it, since I go there almost every weekend, and I see them modifying it, bringing in new stores, stores with better added value, better brands, and with that, they have, uh, a more interesting profit margin. But they don't just earn from store rentals by having stakes in the malls, they also earn from parking revenue, media services, where they have advertisements spread throughout the mall, other administration services, and also specific rentals, right? So I see all this growth coming, bringing revenue growth, sales numbers increasing, right? and the operating revenue also increasing, from 2022 to 2025 it increased by 32%. So we have to consider this, which was very interesting, okay? So the sales numbers also, right, the percentage of sales increased and also controlling leverage , net debt to EBITDA of 1.7, which for the segment is a good EBITDA, okay? uh, decreasing the EBITDA percentage relative to the debt over the next few years. Meaning, the EBIT is growing, the profit is growing, and this in relation to the current debt, that proportion decreases, meaning the company is increasing its cash generation capacity, increasing the money coming in, and paying off this debt more easily. Not to mention that they are also doing something similar to JGSF. Of course, each in their own lane, okay? It also wants to diversify its portfolio a bit by bringing in what are called multi-use spaces, where there are commercial areas alongside residential ones to add more value for the user, right? We can also see that these are more recent developments with very important modernizations, creating a cool portfolio, and despite the share price increase to R $ 28 today, we’ve already seen dividend growth here. I didn't bring the 10%calculation because the dividend is growing, so you can't really have an average for it, okay? It will generally stay around that 10%mark , at least that's what it was over the last 12 months, right? Anyway, remembering that 2025 was a non-recurring year, okay? We have to take that into consideration. And another point is their guidance on dividends. It’s projected here that through December 2026 they will pay 29 cents per month, right? It went from 10 cents to 29, a huge increase, while respecting leverage, right? So, leverage is approximately up to two times net debt to EBITDA. in dividends, because that way the company has enough cash; otherwise, they might decrease a little. Company dividends are wavy, okay? And you have to know that. That is why diversification is important. And another point, despite the price having grown a lot, their EV/EBITDA is actually much cheaper, right? Today, buying Alos is cheaper than it was last year and in 2024. So, we look at the EV /EBITDA, right? The firm value, which is the market value plus its debt, divided by the EBITDA, which is the company's cash generation capacity. In other words, in 5 years you could buy another Alos, which has almost 50 malls in its portfolio. So that’s what we are talking about. The company is growing tremendously. And JHSF is at 11.45 and Alos is at 28.80. In the last , I mean, year-to-date, actually, we see that the stock is more stable; Alos fell a bit and had a correction, which improved our room for investment; JHSF too, right? So they are moving in this equilibrium. I don’t know, I think it’s very difficult for JHSF to go back to the R $ 7 range. If you bought it at those prices, congratulations, okay? But I think it’s unlikely that will happen. ALOS as well, because the company grew a lot in terms of recurring income—in the case of JHSF —and significantly grew its developments and diversification. That is what is important. The market likes this diversification and is unlikely to sell these shares cheaply. As for ALOS, it has been modernizing and proving to be very competent in cash generation. So you notice that these are companies in sectors where theoretically other firms have a bit of a hard time, right? But we see that these companies, by having this diversification and targeting middle-to-high income, end up being a bit easier to manage. So, that is why these companies caught my attention. They are not yet part of the channel's portfolio because the portfolio's assets are still growing, but if my portfolio were a little more mature, I would definitely have these two companies, for sure. Remembering that this is not an investment recommendation or suggestion; you need to study. See if it fits according to your strategy, all right? So these are companies that are growing, right? Companies that grow and pay dividends at the same time. I liked it a lot. If you liked it too, leave a like for me, subscribe to the channel if you aren't subscribed, and turn on the bell. 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