Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario (BSP:PMFO11) ROE %: 20.80% (As of Dec. 2025) — 216% Above Median


BSP:PMFO11 Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario BSP:PMFO11
9 GF Score
Price R$86.86
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What is Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario ROE %?

Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario BSP:PMFO11 9 ROE % is 20.80% as of Dec. 2025, which is 216% above its 10-year median of 6.58. GuruFocus rates BSP:PMFO11 with a GF Score™ of 9/100. The stock has 1 warning sign investors should review. Among 1,609 Asset Management companies, Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario ranks better than 82.47% on this metric.

ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario's annualized net income for the quarter that ended in Dec. 2025 was R$17.60 Mil. Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario's average Total Stockholders Equity over the quarter that ended in Dec. 2025 was R$84.62 Mil. Therefore, Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario's annualized ROE % for the quarter that ended in Dec. 2025 was 20.80%.

The historical rank and industry rank for Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario's ROE % or its related term are showing as below:

BSP:PMFO11' s ROE % Range Over the Past 10 Years
Min: -7.65   Med: 6.58   Max: 20.8
Current: 20.8

During the past 3 years, Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario's highest ROE % was 20.80%. The lowest was -7.65%. And the median was 6.58%.

BSP:PMFO11's ROE % is ranked better than
82.47% of 1609 companies
in the Asset Management industry
Industry Median: 6.52 vs BSP:PMFO11: 20.80

Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario  (BSP:PMFO11) ROE % Explanation

ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.

The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:

ROE %(Q: Dec. 2025 )
=Net Income/Total Stockholders Equity
=17.603/84.624
=(Net Income / Revenue )*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(17.603 / 17.926)*(17.926 / 84.646)*(84.646 / 84.624)
=Net Margin %*Asset Turnover*Equity Multiplier
=98.2 %*0.2118*1.0003
=ROA %*Equity Multiplier
=20.8 %*1.0003
=20.80 %

With this breakdown, it is clear that if a company grows its Net Profit Margin, its Asset Turnover, or its Leverage, it can grow its ROE %.

The factors that affect a company's ROE % can also be illustrated with the five-step DuPont Analysis:

ROE %(Q: Dec. 2025 )
=Net Income/Total Stockholders Equity
=17.603/84.624
=(Net Income / Pre-Tax Income) * (Pre-Tax Income / Revenue) * (Revenue / Total Assets) * (Total Assets / Total Stockholders Equity)
= (17.603 / 17.603) * (17.603 / 17.926) * (17.926 / 84.646) * (84.646 / 84.624)
= Tax Burden * Pretax Margin % * Asset Turnover * Equity Multiplier
= 1 * 98.2 % * 0.2118 * 1.0003
=20.80 %

Note: The net income data used here is one times the annual (Dec. 2025) net income data. The Revenue data used here is one times the annual (Dec. 2025) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Be Aware

Net Income is used.

Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.

Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario ROE % Related Terms

Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario ROE % Historical Data

* Premium members only.

The historical data trend for Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario's ROE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario ROE % Chart

Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario Annual Data
Trend Dec23 Dec24 Dec25
ROE %
0.00 -7.65 20.80

Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario Semi-Annual Data
Dec23 Dec24 Dec25
ROE % 0.00 -7.65 20.80

BSP:PMFO11 vs BLK, BX, KKR: ROE % Comparison

For the Asset Management subindustry, Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario's ROE %, along with its competitors' market caps and ROE % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario ROE % vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario's ROE % distribution charts can be found below:

* The bar in red indicates where Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario's ROE % falls into.


BSP:PMFO11
9GF Score
Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario BSP:PMFO11
ROE % is just one metric. See GF Score™, valuation, warning signs, and more.
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Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario ROE % Calculation

Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario's annualized ROE % for the fiscal year that ended in Dec. 2025 is calculated as

ROE %=Net Income (A: Dec. 2025 )/( (Total Stockholders Equity (A: Dec. 2024 )+Total Stockholders Equity (A: Dec. 2025 ))/ count )
=17.603/( (80.736+88.512)/ 2 )
=17.603/84.624
=20.80 %

Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario's annualized ROE % for the quarter that ended in Dec. 2025 is calculated as

ROE %=Net Income (Q: Dec. 2025 )/( (Total Stockholders Equity (Q: Dec. 2024 )+Total Stockholders Equity (Q: Dec. 2025 ))/ count )
=17.603/( (80.736+88.512)/ 2 )
=17.603/84.624
=20.80 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data, the net income data used here is one times the annual (Dec. 2025) net income data. ROE % is displayed in the 30-year financial page.

Frequently Asked Questions Learn more about ROE % →
What does a ROE % of 20.80% mean?
Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario (BSP:PMFO11) has a ROE % of 20.80% as of Dec. 2025. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario and its competitors. This is 216% above median its historical median of 6.58. According to the industry distribution chart, Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario ranks #282 out of 1609 companies in the Asset Management industry, placing it in the top 17.5%.
Is Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario's ROE % too high?
Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario's current ROE % of 20.80% is 216% above median its 10-year median of 6.58. The Asset Management industry median ROE % is 6.52. Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario's value of 20.80% is 219% above this industry median. Based on the distribution chart, Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario ranks #282 out of 1609 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario has a GF Score™ of 9/100, reflecting its overall financial health beyond just this single metric.
How does Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario's ROE % compare to BLK and BX?
According to the Asset Management industry distribution chart, Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario ranks #282 out of 1609 companies for ROE %. This places Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario in the top 18% of its industry — outperforming the majority of peers. The industry median ROE % is 6.52. Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario's value of 20.80% is 219% above this benchmark. While the company's 10-year median is 6.58 vs. the industry median of 6.52, Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROE % for an Asset Management company?
The median ROE % among Asset Management companies is 6.52, based on 1,609 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario's current ROE % of 20.80% is 219% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario and its competitors. For the Asset Management industry, the median ROE % is 6.52 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario's current ROE % is 20.80%, which is 216% above median its own 10-year median of 6.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario stock overvalued right now?
Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario (BSP:PMFO11) has a current ROE % of 20.80%. The current ROE % is 20.80%, which is 216% above median its 10-year median of 6.58 and 219% above the Asset Management industry median of 6.52. Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario's overall GF Score™ is 9/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario (BSP:PMFO11), the current ROE % is 20.80% as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario Business Description

Address Avenida Paulista 1793, São Paulo, SP, BRA, CEP 1311200
Speciale Real Estate Fund of Funds Fundo DE Investimento Imobiliario is a fund classified as an Active Management FII and is intended to business segment which is Bonds and Securities. The purpose of the FUND is to invest in following securities, subject to the requirements and provisions relating to the investments contained in the Regulation shares of other real estate investment funds (FII), primarily mortgage bills (LH), real estate letters of credit (LCI),real estate receivables.
9GF Score

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ROE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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