NSI NV
AEX:NSI

Watchlist Manager
NSI NV Logo
NSI NV
AEX:NSI
Watchlist
Price: 19.74 EUR 0.41% Market Closed
Market Cap: 397.9m EUR
Have any thoughts about
NSI NV?
Write Note

Intrinsic Value

The intrinsic value of one NSI stock under the Base Case scenario is 33.89 EUR. Compared to the current market price of 19.74 EUR, NSI NV is Undervalued by 42%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

NSI Intrinsic Value
33.89 EUR
Undervaluation 42%
Intrinsic Value
Price
Worst Case
Base Case
Best Case

Valuation Backtest
NSI NV

Backtest Intrinsic Value
Dive into the past to invest in the future

Uncover deeper insights with the Valuation Backtest. Learn how current stock valuations stack up against historical averages to gauge true investment potential.

Start backtest now and learn if your stock is truly undervalued or overvalued!

Run Backtest
Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

Backtest Example
Register to View Results
Register to View Results

To access the results of this valuation backtest, please register an account with us. Registration is quick and gives you instant access to insights on 3 stocks per week for free.

Backtest Unavailable

The backtest for NSI cannot be conducted due to limitations such as insufficient data or other constraints. Please select a different stock or adjust your settings.

Backtest In Progress...
Backtest In Progress...
How do you feel about NSI?
Bearish
Neutral
Bullish

Fundamental Analysis

Economic Moat
NSI NV

Company Quality
No Indicators Selected
Select Indicators

Select up to 3 indicators:

Insider Trading
0-3
Months
0-6
Months
0-12
Months
0-36
Months
No Periods Selected
Select Periods

Select up to 2 periods:

Investment Journal
AI Assistant
AI Assistant
Ask me anything about NSI NV

Provide an overview of the primary business activities
of NSI NV.

What unique competitive advantages
does NSI NV hold over its rivals?

What risks and challenges
does NSI NV face in the near future?

Summarize the latest earnings call
of NSI NV.

Is it considered overvalued or undervalued
based on the latest financial data?

Show all valuation multiples
for NSI NV.

Provide P/S
for NSI NV.

Provide P/E
for NSI NV.

Provide P/OCF
for NSI NV.

Provide P/FCFE
for NSI NV.

Provide P/B
for NSI NV.

Provide EV/S
for NSI NV.

Provide EV/GP
for NSI NV.

Provide EV/EBITDA
for NSI NV.

Provide EV/EBIT
for NSI NV.

Provide EV/OCF
for NSI NV.

Provide EV/FCFF
for NSI NV.

Provide EV/IC
for NSI NV.

Show me price targets
for NSI NV made by professional analysts.

What are the Revenue projections
for NSI NV?

How accurate were the past Revenue estimates
for NSI NV?

What are the Net Income projections
for NSI NV?

How accurate were the past Net Income estimates
for NSI NV?

What are the EPS projections
for NSI NV?

How accurate were the past EPS estimates
for NSI NV?

What are the EBIT projections
for NSI NV?

How accurate were the past EBIT estimates
for NSI NV?

Compare the revenue forecasts
for NSI NV with those of its competitors based on recent analyst estimates.

Compare the intrinsic valuations
of NSI NV and its key competitors using the latest financial data.

Compare historical revenue growth rates
of NSI NV against its competitors.

Analyze the profit margins
(gross, operating, and net) of NSI NV compared to its peers.

Compare the P/E ratios
of NSI NV against its peers.

Discuss the investment returns and shareholder value creation
comparing NSI NV with its peers.

Analyze the financial leverage
of NSI NV compared to its main competitors.

Show all profitability ratios
for NSI NV.

Provide ROE
for NSI NV.

Provide ROA
for NSI NV.

Provide ROIC
for NSI NV.

Provide ROCE
for NSI NV.

Provide Gross Margin
for NSI NV.

Provide Operating Margin
for NSI NV.

Provide Net Margin
for NSI NV.

Provide FCF Margin
for NSI NV.

Show all solvency ratios
for NSI NV.

Provide D/E Ratio
for NSI NV.

Provide D/A Ratio
for NSI NV.

Provide Interest Coverage Ratio
for NSI NV.

Provide Altman Z-Score Ratio
for NSI NV.

Provide Quick Ratio
for NSI NV.

Provide Current Ratio
for NSI NV.

Provide Cash Ratio
for NSI NV.

What is the historical Revenue growth
over the last 5 years for NSI NV?

What is the historical Net Income growth
over the last 5 years for NSI NV?

What is the current Free Cash Flow
of NSI NV?

Discuss the annual earnings per share (EPS)
trend over the past five years for NSI NV.

Financials
Annual
Quarterly
TTM
Annual
Quarterly
TTM

Balance Sheet Decomposition
NSI NV

Current Assets 22.6m
Cash & Short-Term Investments 19.4m
Receivables 2.4m
Other Current Assets 850k
Non-Current Assets 1.1B
Long-Term Investments 995.6m
PP&E 3.8m
Intangibles 28k
Other Non-Current Assets 50.7m
Current Liabilities 57.2m
Accounts Payable 3.3m
Accrued Liabilities 11.2m
Short-Term Debt 27m
Other Current Liabilities 15.7m
Non-Current Liabilities 329.2m
Long-Term Debt 323.8m
Other Non-Current Liabilities 5.4m
Efficiency

Earnings Waterfall
NSI NV

Revenue
71.8m EUR
Cost of Revenue
-13.8m EUR
Gross Profit
58m EUR
Operating Expenses
-9.3m EUR
Operating Income
48.8m EUR
Other Expenses
-90.5m EUR
Net Income
-41.7m EUR

Free Cash Flow Analysis
NSI NV

Last Value
3-Years Average
FCF Margin
Conversion Rate
Earnings Calls

In 2023, NSI had a robust operational year with noteworthy achievements like a record low EPRA vacancy rate of 5.2%, and impressive like-for-like rental growth of 7.4%. The company successfully sold assets at 20% above book value, notably without a capital gain on the last EUR 24 million deal. The gross initial yield has risen to 7.9%, up from the averages in 2017-2018, reflecting the strength of the portfolio. Notably, tenant leases have shortened, indicating a more dynamic and hands-on operational approach in the office sector. The company has seen significant outward yield expansion, which has been the main driver of valuation decline. Nevertheless, prospects look positive with actions to enhance sustainability and create value. NSI is prepared for tax changes due to restructuring, ready to mitigate the impact of FBI changes from 2025. With a strong balance sheet and low loan-to-value ratio, NSI announces a EUR 20 million share buyback, showcasing confidence in its strategic direction.

What is Earnings Call?
Fundamental Scores

NSI Profitability Score
Profitability Due Diligence

NSI NV's profitability score is 50/100. The higher the profitability score, the more profitable the company is.

Positive Free Cash Flow
Positive Gross Profit
Positive Operating Income
Positive Revenue Growth Forecast
50/100
Profitability
Score

NSI NV's profitability score is 50/100. The higher the profitability score, the more profitable the company is.

NSI Solvency Score
Solvency Due Diligence

NSI NV's solvency score is 31/100. The higher the solvency score, the more solvent the company is.

Long-Term Solvency
Low D/E
Short-Term Solvency
Positive Net Debt
31/100
Solvency
Score

NSI NV's solvency score is 31/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

NSI Price Targets Summary
NSI NV

Wall Street analysts forecast NSI stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for NSI is 23.12 EUR with a low forecast of 21.21 EUR and a high forecast of 25.2 EUR.

Lowest
Price Target
21.21 EUR
7% Upside
Average
Price Target
23.12 EUR
17% Upside
Highest
Price Target
25.2 EUR
28% Upside
View Analyst Estimates
View Analyst Estimates
Want to learn more about Wall St estimates for NSI?

Click here to dive deeper.

Dividends

Dividend Yield
Lowest
Average
Highest
Dividend Per Share
N/A
Growth 3Y
Growth 5Y
Growth 10Y
Dividend Safety Score
Very
Unsafe
Unsafe
Safe
Very
Safe
0
25
50
75
100
Shareholder Yield

Current shareholder yield for NSI is .

Shareholder yield represents the total return a company provides to its shareholders, calculated as the sum of dividend yield, buyback yield, and debt paydown yield. What is shareholder yield?

Shareholder Yield
Dividend Yield
Lowest
Average
Highest
Buyback Yield
Lowest
Average
Highest
Debt Paydown Yield
Lowest
Average
Highest

Profile

NSI NV Logo
NSI NV

Country

Netherlands

Industry

Real Estate

Market Cap

386m EUR

Dividend Yield

7.7%

Description

NSI NV is a closed-end real estate investment company, which engages in management of investment portfolio. The company is headquartered in Hoofddorp, Noord-Holland and currently employs 56 full-time employees. The Firm invests in a real estate portfolio, which it also actively manages. The company operates in three segments: the Netherlands, Belgium and Switzerland. Its investments are primarily focused on office and retail properties in the Netherlands and on offices and logistics real estate in Belgium. The Firm’s portfolio comprises over 300 lettable properties. The Firm has around 40 subsidiaries, including NSI Bedrijfsgebouwen BV, NSI Beheer BV, NSI Development BV, VastNed Offices Benelux Holding BV, Munuvius BV and NSI Luxembourg Holding Sarl, among others.

Contact

NOORD-HOLLAND
Hoofddorp
Antareslaan 69-75
+31207630300.0
www.nsi.nl

IPO

1998-04-03

Employees

56

Officers

CEO & Member of Management Board
Mr. Bernd A. Stahli
CFO & Member of Management Board
Ms. Elke Snijder
Head of Investor Relations & Treasury
Martijn Massen

See Also

Discover More
What is the Intrinsic Value of one NSI stock?

The intrinsic value of one NSI stock under the Base Case scenario is 33.89 EUR.

Is NSI stock undervalued or overvalued?

Compared to the current market price of 19.74 EUR, NSI NV is Undervalued by 42%.

Back to Top