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Instone Real Estate Group (0ZQ7) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Instone Real Estate Group €13.53, price €6.37, upside +112.4%, quality 51 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Some data
Sep 24, 2026
Instone Real Estate Group
0ZQ7 · LSEClearly undervaluedStrong Fair Value upside, but quality is only moderate.
✓Fair value €13.53 · Strongly undervalued (+112.4%)
!Quality 51/100
!Weak Growth (revenue 5y −2.5 %/yr)
✓Solidly profitable · 13.2% net margin (TTM)
!negative free cash flow
!6.8% dividend yield · Watch coverage
!Moderate moat 56/100
!Evidence only medium, so the estimate is less certain
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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
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 €4.18 – €22.46 · fair‑value band €12.12 – €16.92 · the €6.37 price screens below the €13.53 fair value. Dashed = 300-day average. As of Sep 24, 2026.
Company profile
Instone Real Estate Group SE, together with its subsidiaries, develops residential real estate properties in Germany. The company develops single and multi-family buildings, publicly subsidized housing, designs modern residential neighborhood, and renovates listed properties.
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Instone Real Estate Group SE, together with its subsidiaries, develops residential real estate properties in Germany. The company develops single and multi-family buildings, publicly subsidized housing, designs modern residential neighborhood, and renovates listed properties. It also sells and rents residential quarters with apartments and refurbishes listed buildings for residential use. Instone Real Estate Group SE was founded in 1991 and is headquartered in Essen, Germany.
Stock analysis
Instone Real Estate Group (0ZQ7) currently trades at €6.37, while our model-based Fair Value estimate is €13.53, implying the stock looks roughly 52.9% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €27.44 per share, and 13 of the 15 models we run sit above the €6.37 price.
Bear case: the Dividend Discount group reads lowest at €5.05, and 2 of the 15 models stay below the price. Evidence for this calculation is medium.
Scenario range: €12.12 (bear) to €16.92 (bull), the price of €6.37 sits below 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 51/100 (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.
Instone Real Estate Group reported revenue of €412M in FY2025 versus €742M in FY2021, a compound −13.7%/yr. Reported net income was €44.6M in FY2025, compounding −14.4%/yr from FY2021.
Key figures
Market cap €336M · P/E ratio 0.0 · EPS (TTM) €1.63 · Dividend yield 6.8% · Net margin 10.8% · Return on equity 8.4% · Return on assets (EBIT) 3.0% · Operating margin 40.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 33% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 2% fair-value upside, at 112%, 0ZQ7 screens cheaper than that median.
Fair Value models
Bear €12.12
Fair Value €13.53
Bull €16.92
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (€0.9074 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.
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
Residual Income
€13.09
€13.70
€14.79
76
Owner Earnings
€23.59
€27.44
€34.23
75
EPV
€11.73
€11.96
€12.15
70
All 15 models by family
DCF Models
Owner Earnings
€23.59
€27.44
€34.23
75
Earnings-Based
Graham-Dodd
€8.29
€11.76
€13.78
67
EPV
€11.73
€11.96
€12.15
70
Dividend Discount
Gordon GGM
€4.60
€5.05
€5.63
69
DDM Multi-Stage
€4.60
€5.64
€6.87
67
Multiples
P/E Multiple
€20.12
€26.83
€33.54
63
P/S Multiple
€10.15
€13.53
€16.92
58
P/B Multiple
€15.55
€20.73
€25.92
55
EV/EBIT
€15.72
€17.61
€19.50
63
EV/EBITDA
€14.73
€16.29
€17.85
64
EV/Revenue
€13.87
€15.51
€17.15
52
Asset-Based
NCAV (Graham)
€8.37
€11.21
€16.73
51
Economic Profit
Residual Income
€13.09
€13.70
€14.79
76
ROIC Compounder
€11.73
€11.96
€12.15
70
Growth Earnings
Growth-Adj P/E
€14.19
€20.27
€26.35
67
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Set up alert →Quality Score breakdown
Overall quality
51/100
Of which business quality 46 · Market factors (momentum, volatility) 26
Profitability
26
Margins and returns on capital today
Quality Growth
48
Are margins and returns improving?
Cashflow
0
Earnings quality: real cash, not paper profit
Fin. Strength
52
Balance sheet, leverage, solvency risk
Investment
96
Disciplined investing over empire-building
Low Volatility
39
Calm price path (market factor)
Momentum
26
Price trend over the last 3–12 months (market factor)
52W Momentum
10
Distance to the 52-week high (market factor)
Net Issuance
90
Share count: buybacks or dilution?
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.
19/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−7.1%
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.
−10.3%
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.
−2.5%
Start year 2020 (pandemic). Over 10 years: +1.4% a year
Revenue growth 11 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.
+14.1%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−3.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−10.3%
Dividend (yield on the price)6.8%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−10.3% vs 9.6%, slowing
Profit margin 2020 to 2025 ⓘ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.18% → 4%
Start year 2020 (pandemic)
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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 - Development · 575 stocks
Beats the industry median on 8/9 measures
Overall it ranks above its industry peers.
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
Context: sector, industry, market
- Is the Consumer Discretionary sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: UK Stocks
- Valuation of the UK 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 Real Estate - Development stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Sun Hung Kai Properties Limited 0016 | HK$107.10 | HK$155.14 | +45% |
| China Resources Land Limited 1109 | HK$28.64 | HK$71.60 | +150% |
| CK Asset Holdings 1113 | HK$45.90 | HK$71.49 | +56% |
| Hongkong Land Holdings H78 | $8.57 | $1.52 | −82% |
| DLF Limited DLF | ₹658.40 | ₹167.48 | −75% |
| China Overseas Land & Investment Limited 0688 | HK$12.42 | HK$22.33 | +80% |
| Sino Land Company 0083 | HK$9.94 | HK$7.28 | −27% |
| Lodha Developers Limited LODHA | ₹1,165 | ₹274.14 | −76% |
| Poly Developments and Holdings 600048 | ¥5.77 | ¥5.87 | +2% |
| China Merchants Shekou Industrial Zone Holdings 001979 | ¥7.18 | ¥6.04 | −16% |
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Frequently asked questions
Is Instone Real Estate Group (0ZQ7) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €13.53 versus a price of €6.37, about +112% upside (undervalued).
What is the fair value of 0ZQ7?
Our model-based fair value for Instone Real Estate Group is €13.53 (as of Sep 24, 2026), built from audited fundamentals. The current price: €6.37.
What is the quality score of 0ZQ7?
Instone Real Estate Group has a Quality Score of 51/100. 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 Instone Real Estate Group (0ZQ7)?
Our model-based price target is the fair value of €13.53 (as of Sep 24, 2026) from 15 valuation models. Cautious scenario €12.12, optimistic scenario €16.92. It is a calculation from audited fundamentals, not an analyst target.
What is the Instone Real Estate Group stock forecast for 2026?
Our models put fair value at €13.53, about +112% upside versus a price of €6.37 (undervalued). Cautious scenario €12.12, optimistic scenario €16.92. The calculation is refreshed regularly with new filings.
What is the revenue of Instone Real Estate Group (0ZQ7)?
Instone Real Estate Group reported trailing-twelve-month revenue of about €386M (latest available figure, as of Sep 24, 2026).
Does Instone Real Estate Group pay a dividend?
Instone Real Estate Group currently shows a dividend yield of about 6.75% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Instone Real Estate Group (0ZQ7)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Instone Real Estate Group it is €13.53 per share (as of Sep 24, 2026), against a price of €6.37. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Instone Real Estate Group stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0ZQ7 trades below its calculated fair value: price €6.37, fair value €13.53, a gap of about +112% (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 0ZQ7?
No. The price is what the market pays today (€6.37); the fair value is what the company's own numbers justify (€13.53). For Instone Real Estate Group the two are €7.16 per share apart. That gap is exactly why we show both numbers side by side.
How much is Instone Real Estate Group worth?
The market values Instone Real Estate Group at about €336M (market capitalisation, as of Sep 24, 2026). Per share that is €6.37; our models calculate a fair value of €13.53 per share.
What do the bullish and bearish scenarios say about 0ZQ7?
Our models span a range for Instone Real Estate Group: cautious scenario €12.12, base €13.53, optimistic €16.92 per share (as of Sep 24, 2026, price €6.37). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0ZQ7?
Instone Real Estate Group trades at a price-to-earnings ratio of 0.0 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €13.53 is built from several models across several years.
How solid is the balance sheet of Instone Real Estate Group (0ZQ7)?
Balance-sheet figures for Instone Real Estate Group (as of Sep 24, 2026): return on equity 8.4%. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is 0ZQ7 from its 52-week high?
Instone Real Estate Group trades at €6.37, about 33% below its 52-week high of €9.51 and 5% above the low of €6.05 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €13.53 is for.
Which stocks are comparable to Instone Real Estate Group?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, CK Asset Holdings, Hongkong Land Holdings, 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 Instone Real Estate Group stock attractive at the current price?
The data as of Sep 24, 2026: price €6.37, calculated fair value €13.53 (+112%), Quality Score 51/100, from 15 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 0ZQ7 calculated?
We run Instone Real Estate Group through 15 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 €13.53, 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. Instone Real Estate Group currently trades 53 % 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 Instone Real Estate Group (0ZQ7)?
The closing price on Oct 2, 2026 was €6.37. Our model-based fair value is €13.53, about +112% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Instone Real Estate Group right now?
The price is below even our cautious bear case (€12.12). The market is more pessimistic than our downside scenario. Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Instone Real Estate Group
How large is the market capitalisation of Instone Real Estate Group (0ZQ7)?
The market capitalisation of Instone Real Estate Group is €336M. 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 are the earnings per share of Instone Real Estate Group (0ZQ7)?
Earnings per share at Instone Real Estate Group are €1.63 (price ÷ EPS = P/E 0.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Instone Real Estate Group (0ZQ7)?
The dividend yield of Instone Real Estate Group is 6.8% (payout 26.4%). 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 Instone Real Estate Group (0ZQ7)?
The net margin of Instone Real Estate Group is 10.8% (fiscal year 2025). 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 Instone Real Estate Group (0ZQ7)?
The return on equity (ROE) of Instone Real Estate Group is 8.4% (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 Instone Real Estate Group (0ZQ7)?
On an EBIT basis the return on assets of Instone Real Estate Group 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 Instone Real Estate Group (0ZQ7)?
The operating margin of Instone Real Estate Group is 40.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Instone Real Estate Group (0ZQ7)?
Revenue at Instone Real Estate Group is growing −25.2% versus a year earlier (3y avg −10.3%). 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 Instone Real Estate Group (0ZQ7)?
Earnings per share at Instone Real Estate Group are growing +62.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Instone Real Estate Group (0ZQ7) generate?
The free cash flow of Instone Real Estate Group is −€31.8M (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 Instone Real Estate Group (0ZQ7) carry?
The net debt of Instone Real Estate Group is €133M (fiscal year 2025). 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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