Context: How Bolsa Mexicana de Valores works, and what it makes issuers disclose · Mexico on the LatAm Power Map
Sare Holding is a Mexican homebuilder that has spent years fighting its way back from the edge — a small, illiquid stock whose balance sheet still carries the scars of a brutal restructuring. It is not a growth story today; it is a survival story, and the numbers say so plainly.
| Key Facts — Sare Holding S.A.B. de C.V. | |
|---|---|
| Full name | Sare Holding, S.A.B. de C.V. |
| Ticker / exchange | SAREB — Bolsa Mexicana de Valores (BMV) |
| Headquarters | Mexico City, Mexico |
| Sector | Residential construction / homebuilding |
| Employees | 72 |
| Market value (market cap) | MXN 61.3 m (≈ US$3.5 m) — our calculation |
| Yearly sales (revenue, TTM) | MXN 311.6 m (≈ US$17.9 m) |
| Net profit (2018) | MXN –1.1 m (≈ –US$63,000) |
| Net margin | –0.35% — nearly break-even but still a loss |
| Return on equity (ROE) | –14.3% — owners lost money on their investment |
| Price-to-earnings (P/E) | n/a — company is loss-making |
| Dividend yield | None |
| Website | sare.investorcloud.net |
What it is
Sare Holding is a Mexico City-based company whose main business is developing, building, and selling homes — from affordable social housing up to residential-grade properties — across several Mexican states including Guanajuato, Puebla, Quintana Roo, Querétaro, and the greater Mexico City area.
It has been listed on the Mexican Stock Exchange since 2003. Its active project portfolio has included developments such as Miravalle, Las Golondrinas, Luna Residencial, Real del Sur, and Kaan, operated through subsidiaries including Sare Bienes Raíces and Construcciones Aurum.
Who owns it
Investors as a group hold around 70% of Sare’s shares, led by Grupo Tavistock and the Sánchez Carbajal family. The structured data shows zero institutional ownership on record, suggesting the free float is thin and the stock trades very rarely — a meaningful risk for any investor trying to buy or sell a significant position.
Exact current ownership percentages are not disclosed in available public sources beyond that broad split.
Who runs it
Dionisio Julián Sánchez Carbajal and Jorge Arturo Sánchez Carbajal — brothers from the founding family — have both held senior roles at the company. In October 2016, Víctor Manuel Borrás Setién, the former head of Mexico’s national housing fund Infonavit, was named chairman of the board.
Jorge Arturo Sánchez Carbajal stepped down as chairman at that time but remained a board member. The current chief executive officer is not confirmed in available sources beyond the reference to Arturo Sánchez Carbajal in a financial data provider’s profile; the company’s investor relations page did not return disclosable content.
The money, in plain words
Revenue has been falling — from MXN 390.4 m (≈ US$22.5 m) in 2016 to MXN 311.6 m (≈ US$17.9 m) in the trailing period, a decline of roughly 20% over two years (our calculation). The company kept about 21.5 cents of gross profit from every peso of sales — a gross margin of 21.5% — but operating costs consumed all of that and more, leaving an operating loss every year since 2017 (our calculation).
The net loss shrank to just MXN 1.1 m (≈ US$63,000) in 2018, after a catastrophic MXN 203 m (US$12 mn) loss in 2017 — a net margin of –0.35%, barely negative. Owners’ equity stands at MXN 626 m (≈ US$36.1 m), but liabilities are 2.4 times that — a debt load of MXN 1.53 bn (≈ US$88 m) sitting on top of a company worth only US$3.5 m on the stock market (our calculations).
The return on equity is –14.3%, meaning the business is still eroding, not growing, the owners’ stake.
What it is doing now
Sare emerged from a three-year restructuring without entering formal insolvency proceedings, and the appointment of Borrás Setién was intended to mark a new phase of operational consolidation and growth. With only 72 employees and a market value of roughly US$3.5 m, the company is operating at minimal scale compared with its asset base.
No material corporate announcement — deal, capital raise, or earnings release — appeared in available sources for 2024–2025, which is itself telling: at this size and trading volume, Sare has largely fallen off the radar of the Mexican financial press.
What to watch
- Debt load: Liabilities of MXN 1.53 bn (≈ US$88 m) against a market value of US$3.5 m means creditors, not shareholders, effectively own the company’s risk. Any refinancing or covenant stress would be the single biggest event.
- Revenue trajectory: Two consecutive years of declining sales. A third would put break-even further out of reach.
- Leadership clarity: Current CEO identity and succession at board level are not publicly confirmed — a governance gap that any serious investor would need to resolve before acting.
- Liquidity: The stock appears to trade at or near zero volume on many days. Entry and exit at any meaningful size may be impossible in practice.
Sources
- MarketScreener — Sare Holding governance, directors and executives
- Expansión — Sare board changes, October 2016
- MarketScreener — Sare Holding shareholder profile
- EMIS — Sare Holding company profile (Mexico)
- Bolsa Mexicana de Valores — Sare issuer profile
- LEI Register — Sare Holding S.A.B. de C.V. entity record
- Market data: EODHD.
This is news, not investment advice.
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