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Wereldhave N.V (0NMR) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Wereldhave N.V €18.71, price €16.82, upside +11.2%, quality 54 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Real Estate · GB · ISIN NL0000289213

WN Some data Sep 24, 2026

Wereldhave N.V

0NMR · LSE

UndervaluedThe stock appears undervalued with acceptable quality.

✓Fair value €18.71 · Undervalued (+11.2%)
!Quality 54/100
!Weak Growth (revenue 3y −1.1 %/yr)
✓Highly profitable · 30.1% net margin (TTM)
!Moderate debt
✓7.7% dividend yield · Cash covered
!Moderate moat 57/100
!Evidence only medium, so the estimate is less certain

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

€21.54 €7.68 Fair Value €18.71 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range €7.68 – €21.54 · fair‑value band €13.97 – €18.71 · the €16.82 price screens below the €18.71 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Wereldhave N.V. contributes to a better everyday life for visitors and better business for tenants. A one-stop location for groceries, shopping, leisure, relaxation, sports, health, work and other daily needs " all supported by smart concepts and digital services.

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Wereldhave N.V. contributes to a better everyday life for visitors and better business for tenants. A one-stop location for groceries, shopping, leisure, relaxation, sports, health, work and other daily needs " all supported by smart concepts and digital services. By investing sustainably to meet the needs of customers and local areas, we enrich communities, while caring for the environment, and have a positive effect on the way people live, work and shop. Wereldhave N.V. play a vital role in people's everyday lives in leading regional cities in the Netherlands, Belgium, Luxembourg and France.

Stock analysis

Wereldhave N.V (0NMR) currently trades at €16.82, while our model-based Fair Value estimate is €18.71, implying the stock looks roughly 10.1% undervalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of €18.72 per share, and 1 of the 3 models we run sit above the €16.82 price.

Bear case: the Dividend Discount group reads lowest at €11.22, and 2 of the 3 models stay below the price. Evidence for this calculation is medium.

Scenario range: €13.97 (bear) to €18.71 (bull), the price of €16.82 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 54/100 (solid 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.

Wereldhave N.V reported revenue of €220M in FY2020 versus €268M in FY2016, a compound −4.8%/yr. Reported net income was −€187M in FY2020.

Key figures

Market cap €594M · P/S ratio 2.66 · EPS (TTM) €−5.64 · Dividend yield 7.7% · Net margin −84.8% · Return on equity 6.3% · Return on assets (EBIT) −1.7% · Operating margin 61.9%.

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 22% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at −24% fair-value upside, at 11%, 0NMR screens cheaper than that median.

Fair Value models

Bear €13.97 Fair Value €18.71 Bull €18.71
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. 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. Evidence ⓘEvidence = 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.
Highest evidence
FCF DCF n/a n/a €1.89 73
Growth DCF n/a n/a €1.26 71
Gordon GGM €10.41 €11.22 €12.43 67
All 8 models by family
DCF Models
FCF DCF n/a n/a €1.89 73
5Y Revenue Exit n/a n/a €6.04 66
Dividend Discount
Gordon GGM €10.41 €11.22 €12.43 67
DDM Multi-Stage €10.41 €12.39 €14.95 65
Multiples
EV/Revenue n/a n/a €5.50 50
Asset-Based
NCAV (Graham) €13.97 €18.72 €27.94 54
Growth DCF
Growth DCF n/a n/a €1.26 71
Rev-Margin DCF n/a n/a €5.47 66

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Quality Score breakdown

Overall quality 54/100

Of which business quality 52 · Market factors (momentum, volatility) 40

Profitability 2
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 40
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 29
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)

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Revenue & earnings trend

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. 36/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−8.5%
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.
−1.1%
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.
54.8% (2016) → −79.0% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
not computed

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Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more REIT - Retail stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Simon Property Group SPG $200.76 $114.08 −43%
Realty Income Corporation O $55.35 $87.76 +59%
Kimco Realty Corporation KIM $22.49 $17.46 −22%
Unibail-Rodamco-Westfield SE URW €91.72 €70.12 −24%
CapitaLand Integrated Commercial Trust (CICT or the Trust) C38U 2.24 SGD 1.38 SGD −38%
Regency Centers Corporation REG $73.23 $38.95 −47%
Scentre Group SCG A$3.35 A$3.49 +4%
Link Real Estate Investment Trust (Link REIT) 0823 HK$37.02 HK$38.68 +4%
Federal Realty Investment Trust FRT $108.29 $40.55 −63%
Brixmor Property Group BRX $28.07 $18.82 −33%

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Wereldhave N.V · Fair Value
€18.71 +10%Fair Value
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Cite: Fair Value Calculator (2026). "Wereldhave N.V Fair Value". https://www.fairvalue-calculator.com/stock/0NMR

Frequently asked questions

Is Wereldhave N.V (0NMR) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €18.71 versus a price of €16.82, about +11% upside (undervalued).
What is the fair value of 0NMR?
Our model-based fair value for Wereldhave N.V is €18.71 (as of Sep 24, 2026), built from audited fundamentals. The current price: €16.82.
What is the quality score of 0NMR?
Wereldhave N.V has a Quality Score of 54/100. 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 Wereldhave N.V (0NMR)?
Our model-based price target is the fair value of €18.71 (as of Sep 24, 2026) from 8 valuation models. Cautious scenario €13.97, optimistic scenario €18.71. It is a calculation from audited fundamentals, not an analyst target.
What is the Wereldhave N.V stock forecast for 2026?
Our models put fair value at €18.71, about +11% upside versus a price of €16.82 (undervalued). Cautious scenario €13.97, optimistic scenario €18.71. The calculation is refreshed regularly with new filings.
What is the revenue of Wereldhave N.V (0NMR)?
Wereldhave N.V reported trailing-twelve-month revenue of about €223M (latest available figure, as of Sep 24, 2026).
Does Wereldhave N.V pay a dividend?
Wereldhave N.V currently shows a dividend yield of about 7.73% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Wereldhave N.V (0NMR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Wereldhave N.V it is €18.71 per share (as of Sep 24, 2026), against a price of €16.82. It is the blended result of 8 valuation models (cash flow, earnings, asset, dividend).
Is Wereldhave N.V stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0NMR trades below its calculated fair value: price €16.82, fair value €18.71, a gap of about +11% (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 0NMR?
No. The price is what the market pays today (€16.82); the fair value is what the company's own numbers justify (€18.71). For Wereldhave N.V the two are €1.89 per share apart. That gap is exactly why we show both numbers side by side.
How much is Wereldhave N.V worth?
The market values Wereldhave N.V at about €594M (market capitalisation, as of Sep 24, 2026). Per share that is €16.82; our models calculate a fair value of €18.71 per share.
What do the bullish and bearish scenarios say about 0NMR?
Our models span a range for Wereldhave N.V: cautious scenario €13.97, base €18.71, optimistic €18.71 per share (as of Sep 24, 2026, price €16.82). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 0NMR from its 52-week high?
Wereldhave N.V trades at €16.82, about 22% below its 52-week high of €21.54 and at the low of €16.82 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €18.71 is for.
Which stocks are comparable to Wereldhave N.V?
From the same area (Real Estate) we also value Simon Property Group, Realty Income Corporation, Kimco Realty Corporation, Unibail-Rodamco-Westfield SE, 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 Wereldhave N.V stock attractive at the current price?
The data as of Sep 24, 2026: price €16.82, calculated fair value €18.71 (+11%), Quality Score 54/100, from 8 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 0NMR calculated?
We run Wereldhave N.V through 8 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €18.71, 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 14.5 % above its aggregate fair value. Wereldhave N.V currently trades 10 % 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 Wereldhave N.V (0NMR)?
The closing price on Oct 2, 2026 was €16.82. Our model-based fair value is €18.71, about +11% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Wereldhave N.V right now?
As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF. The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.

Key figures of Wereldhave N.V

How large is the market capitalisation of Wereldhave N.V (0NMR)?
The market capitalisation of Wereldhave N.V is €594M. 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 Wereldhave N.V (0NMR)?
The price-to-sales ratio of Wereldhave N.V is 2.66 (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 Wereldhave N.V (0NMR)?
Earnings per share at Wereldhave N.V are €−5.64. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Wereldhave N.V (0NMR)?
The dividend yield of Wereldhave N.V is 7.7%. 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 Wereldhave N.V (0NMR)?
The net margin of Wereldhave N.V is −84.8% (fiscal year 2020). 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 Wereldhave N.V (0NMR)?
The return on equity (ROE) of Wereldhave N.V is 6.3% (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 Wereldhave N.V (0NMR)?
On an EBIT basis the return on assets of Wereldhave N.V is −1.7% (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 Wereldhave N.V (0NMR)?
The operating margin of Wereldhave N.V is 61.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Wereldhave N.V (0NMR)?
Revenue at Wereldhave N.V is growing +5.8% versus a year earlier (3y avg −1.1%). 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 Wereldhave N.V (0NMR)?
Earnings per share at Wereldhave N.V are growing −15.8% versus a year earlier. How much earnings per share grew versus a year earlier.
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