Norstar (NSTR) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Norstar stock ILS 8.55, price ILS 5.95, upside +43.7%, quality 43 out of 100. Rating: undervalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range 5.76 ILS – 53.91 ILS · fair‑value band 4.32 ILS – 34.20 ILS · the 5.95 ILS price screens below the 8.55 ILS fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 8, 2026.
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Norstar Holdings Inc develops, rents, and manages real estate properties in Northern Europe, Central and Eastern Europe, Israel, Brazil, and the United States. It develops commerce, residential, and office properties.
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The company was formerly known as Gazit Inc. and changed its name to Norstar Holdings Inc in May 2011. Norstar Holdings Inc was incorporated in 1962 and is based in Panama City, Panama.
Stock analysis
Norstar (NSTR) currently trades at 5.95 ILS, while our model-based Fair Value estimate is 8.55 ILS, implying the stock looks roughly 30% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 58.78 ILS per share, and 3 of the 3 models we run sit above the 5.95 ILS price.
Bear case: the Asset-Based group reads lowest at 6.80 ILS, and 0 of the 3 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 4.32 ILS (bear) to 34.20 ILS (bull), the price of 5.95 ILS sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 43/100 (below-average quality), in the Real Estate sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Norstar reported revenue of 2.3B ILS in FY2025 versus 2.3B ILS in FY2021, a compound +0.0%/yr. Reported net income was −23.0M ILS in FY2025.
Key figures
Market cap 438M ILS Micro · P/E ratio 12.4 · P/S ratio 0.18 · EPS (TTM) 0.4800 ILS · Dividend yield 2.0% · Net margin 1.2% · Return on equity 3.9% · Return on assets (EBIT) 3.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades about 41% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −16% fair-value upside, at 44%, NSTR screens cheaper than that median.
Fair Value models
Bear4.32 ILSFair Value 8.55 ILSBull34.20 ILS
Price 5.95 ILS · Upside +43.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.4116 ILS per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
5Y EBITDA Exitn/an/a92.64 ILS72
5Y Revenue Exitn/an/a12.92 ILS69
Rev-Margin DCFn/an/a1.33 ILS69
All 6 models by family
DCF Models
5Y Revenue Exitn/an/a12.92 ILS69
5Y EBITDA Exitn/an/a92.64 ILS72
Multiples
EV/EBITn/a107.50 ILS221.29 ILS61
EV/EBITDAn/a10.06 ILS>40.24 ILS62
Asset-Based
NCAV (Graham)5.08 ILS6.80 ILS10.15 ILS54
Growth DCF
Rev-Margin DCFn/an/a1.33 ILS69
The fair value above starts from this blend and is adjusted for dilution from new shares.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−9.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−0.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−0.9%
Start year 2020 (pandemic). Over 10 years: −10.9% a year
Revenue growth 20 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.3%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−14.2% (2020) → 56.1% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Real Estate Services · 472 stocks
Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score43 · Bottom 25%
Fair Value upside+43.7% · Above median
Profitability
Return on equity (12 months)3.9% · Below median
Return on assets−0.1% · Bottom 25%
Net margin (12 months)1.2% · Below median
Operating margin (12 months)57.0% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−18.5% · Bottom 25%
Dividend yield (12 months)2.0% · Below median
Balance sheet
Debt / equity15.01× · Highest 25%
Valuation Multiplesvs Real Estate Services median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Norstar Fair Value". https://www.fairvalue-calculator.com/stock/NSTR
Frequently asked questions
Is Norstar (NSTR) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 8.55 ILS versus a price of 5.95 ILS, about +44% upside (undervalued).
What is the fair value of NSTR?
Our model-based fair value for Norstar is 8.55 ILS (as of Nov 8, 2026), built from audited fundamentals. The current price: 5.95 ILS.
What is the quality score of NSTR?
Norstar has a Quality Score of 43/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Norstar (NSTR)?
Our model-based price target is the fair value of 8.55 ILS (as of Nov 8, 2026) from 6 valuation models. Cautious scenario 4.32 ILS, optimistic scenario 34.20 ILS. It is a calculation from audited fundamentals, not an analyst target.
What is the Norstar stock forecast for 2026?
Our models put fair value at 8.55 ILS, about +44% upside versus a price of 5.95 ILS (undervalued). Cautious scenario 4.32 ILS, optimistic scenario 34.20 ILS. The calculation is refreshed regularly with new filings.
What is the revenue of Norstar (NSTR)?
Norstar reported trailing-twelve-month revenue of about 2.4B ILS (latest available figure, as of Nov 8, 2026).
Does Norstar pay a dividend?
Norstar currently shows a dividend yield of 1.97% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Norstar (NSTR)?
Norstar has a dividend yield of 2.0%.
What is the intrinsic value of Norstar (NSTR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Norstar it is 8.55 ILS per share (as of Nov 8, 2026), against a price of 5.95 ILS. It is the blended result of 6 valuation models in 4 families (DCF Models, Multiples, Asset-Based, Growth DCF).
Is Norstar stock overvalued or undervalued in 2026?
As of Nov 8, 2026, NSTR trades below its calculated fair value: price 5.95 ILS, fair value 8.55 ILS, a gap of about +44% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of NSTR?
No. The price is what the market pays today (5.95 ILS); the fair value is what the company's own numbers justify (8.55 ILS). For Norstar the two are 2.60 ILS per share apart. That gap is exactly why we show both numbers side by side.
How much is Norstar worth?
The market values Norstar at about 438M ILS (market capitalisation, as of Nov 8, 2026). Per share that is 5.95 ILS; our models calculate a fair value of 8.55 ILS per share.
What do the bullish and bearish scenarios say about NSTR?
Our models span a range for Norstar: cautious scenario 4.32 ILS, base 8.55 ILS, optimistic 34.20 ILS per share (as of Nov 8, 2026, price 5.95 ILS). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NSTR?
Norstar trades at a price-to-earnings ratio of 12.4 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 8.55 ILS is built from several models across several years. Other multiples: P/B 0.3, P/S 0.2, EV/EBITDA 14.4.
How solid is the balance sheet of Norstar (NSTR)?
Balance-sheet figures for Norstar (as of Nov 8, 2026): return on equity 3.9%, debt of 15.01 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is NSTR from its 52-week high?
Norstar trades at 5.95 ILS, about 41% below its 52-week high of 10.09 ILS and 3% above the low of 5.76 ILS (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 8.55 ILS is for.
Which stocks are comparable to Norstar?
From the same area (Real Estate) we also value CBRE Group, Cellnex Telecom, S.A, KE Holdings, Swire Properties Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Norstar stock attractive at the current price?
The data as of Nov 8, 2026: price 5.95 ILS, calculated fair value 8.55 ILS (+44%), Quality Score 43/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of NSTR calculated?
We run Norstar through 6 models from 4 families: DCF Models, Multiples, Asset-Based, Growth DCF. Every model gets the same audited fundamentals; the fair value of 8.55 ILS builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Norstar currently trades 30% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Norstar (NSTR)?
The closing price on Nov 6, 2026 was 5.95 ILS. Our model-based fair value is 8.55 ILS, about +44% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Norstar right now?
The large discount to fair value meets weak quality (43/100). That raises the risk this is a value trap rather than a bargain. The model range is unusually wide (4.32 ILS to 34.20 ILS). The outcome hinges heavily on assumptions, so read the point estimate with caution. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Norstar
How large is the market capitalisation of Norstar (NSTR)?
The market capitalisation of Norstar is 438M ILS. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Norstar (NSTR)?
The price-to-sales ratio of Norstar is 0.18 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Norstar (NSTR)?
Earnings per share at Norstar are 0.4800 ILS (price ÷ EPS = P/E 12.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Norstar (NSTR)?
The dividend yield of Norstar is 2.0% (payout 24.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Norstar (NSTR)?
The net margin of Norstar is 1.2% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Norstar (NSTR)?
The return on equity (ROE) of Norstar is 3.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Norstar (NSTR)?
On an EBIT basis the return on assets of Norstar is 3.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Norstar (NSTR)?
The operating margin of Norstar is 57.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Norstar (NSTR)?
Revenue at Norstar is growing −18.5% versus a year earlier (3y avg −0.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Norstar (NSTR)?
Earnings per share at Norstar are growing −74.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Norstar (NSTR) generate?
The free cash flow of Norstar is 577M ILS (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Norstar (NSTR) carry?
The net debt of Norstar is 21.7B ILS (fiscal year 2025, ≈ 37.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 8, 2026