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Airport City Ltd (ARPT) Fair Value & Analysis

Real Estate · Il · Market cap 5.9B ILA

AC Airport City Ltd ARPT · TA
Price55.86 ILA
Fair Value80.50 ILA
Upside+44.1%
Quality71/100
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Healthy Growth
Highly profitable · 61.7% net margin
Moderate debt · generates free cash flow
Ranks above peers (10/13)
Wide moat 66/100
Evidence: High Range 53.43 ILA – 112.61 ILA Share as image

Fair value as of: Jul 16, 2026

From 14 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from 79.86 ILA to 80.50 ILA (+0.8%) since Jun 26, 2026. Share price −8.5% over the past month.

A solid business, screening 44% undervalued on our models.

What matters now

  • The rarer combination: high quality (71/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • A fairly wide model range (53.43 ILA to 112.61 ILA) leaves room in how you read the outcome.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

86.39 ILA 46.52 ILA Fair Value 80.50 ILA Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range 46.52 ILA – 86.39 ILA · fair‑value band 53.43 ILA – 112.61 ILA · the 55.86 ILA price screens below the 80.50 ILA fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Airport City Ltd (ARPT) currently trades at 55.86 ILA, while our model-based Fair Value estimate is 80.50 ILA, implying the stock looks roughly 44.1% undervalued today. The Quality Score stands at 71/100 (solid quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Airport City Ltd generated revenue of 1.1B ILA at a net margin of 66.0%. Revenue grew 2.5% year over year. It earns a return on equity of 7.7%. Net debt stands at 5.1B ILA. Fundamentals as of Jul 16, 2026

Our scenario range runs from 53.43 ILA (bear case) to 112.61 ILA (bull case); at 55.86 ILA, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Real Estate peers we cover trades at -2% fair-value upside, at 44%, ARPT screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 14.99 ILA 40.96 ILA 77.50 ILA 80
Rev-Margin DCF 14.23 ILA 46.96 ILA 85.72 ILA 74
Residual Income 77.86 ILA 81.93 ILA 87.69 ILA 61
All 14 models by family
DCF Models
FCF DCF 14.56 ILA 44.71 ILA 90.33 ILA 38
5Y Revenue Exit 14.23 ILA 47.15 ILA 89.73 ILA 39
5Y EBITDA Exit 36.65 ILA 90.09 ILA 153.79 ILA 41
10Y Revenue Exit 12.21 ILA 42.15 ILA 83.57 ILA 36
10Y EBITDA Exit 27.93 ILA 71.67 ILA 132.43 ILA 37
Multiples
P/S Multiple 53.43 ILA 71.24 ILA 89.06 ILA 58
P/B Multiple 90.47 ILA 120.62 ILA 150.78 ILA 55
EV/EBIT 86.64 ILA 128.02 ILA 169.40 ILA 53
EV/EBITDA 58.86 ILA 90.97 ILA 123.09 ILA 54
EV/Revenue 16.22 ILA 39.24 ILA 62.25 ILA 43
Asset-Based
NCAV (Graham) 48.33 ILA 64.77 ILA 96.67 ILA 50
Growth DCF
Growth DCF 14.99 ILA 40.96 ILA 77.50 ILA 80
Rev-Margin DCF 14.23 ILA 46.96 ILA 85.72 ILA 74
Economic Profit
Residual Income 77.86 ILA 81.93 ILA 87.69 ILA 61

Widest divergence: Multiples (90.97 ILA) versus Growth DCF (40.96 ILA). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.1B ILA
Revenue growth (YoY) +2.5%
Net margin 66.0%
Return on equity 7.7%
Free cash flow 500M ILA FY2025
P/E ratio 8.7
More key figures
Operating margin 75.3%
EPS (TTM) 6.07 ILA
EPS growth (YoY) +395%
Net debt 5.1B ILA FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 71/100

Of which business quality 67 · Market factors (momentum, volatility) 42

Profitability 37
Margins and returns on capital today
Quality Growth 71
Are margins and returns improving?
Cashflow 78
Earnings quality: real cash, not paper profit
Fin. Strength 48
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 85
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Airport City Ltd., together with its subsidiaries, engages in leasing, development, and management of real estate properties in Israel, France, Spain, the Netherlands, and Germany. It operates through two segments, Property Rental and Management; and Construction of Buildings for Sale.

Full company description

Airport City Ltd., together with its subsidiaries, engages in leasing, development, and management of real estate properties in Israel, France, Spain, the Netherlands, and Germany. It operates through two segments, Property Rental and Management; and Construction of Buildings for Sale. The company initiates, locates, plans, constructs, leases, manages, and maintains properties intended for rental for various uses; and is involved in the development, construction, and marketing of residential units. It also operates real estate assets, such as central stations, including public transportation areas leased to transportation operators and commercial areas; commercial space for marketing, located mainly in shopping malls and shopping centers, and in power center complexes. In addition, the company engages in the operation of offices, gas stations, parking lots, as well as industry and storage for garages, storage buildings, industrial plants, and crafts purposes. Airport City Ltd. was incorporated in 1992 and is based in Petah Tikva, Israel.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Airport City Ltd reported revenue of 1.2B ILA in FY2025 versus 824M ILA in FY2021, a compound +9.2%/yr. Reported net income was 758M ILA in FY2025, compounding −14.3%/yr from FY2021.

Growth Quality 75/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.2B ILS
Latest YoY
+6.8%
Avg. growth/yr (3Y)
+9.0%
Avg. growth/yr (5Y)
+5.3%
Avg. growth/yr (22Y)
+14.8%
Revenue +9.2%/yr
FY21 824M ILA
FY22 903M ILA
FY23 1.0B ILA
FY24 1.1B ILA
FY25 1.2B ILA
Net income −14.3%/yr
FY21 1.4B ILA
FY22 616M ILA
FY23 253M ILA
FY24 413M ILA
FY25 758M ILA

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Cite: Fair Value Calculator (2026). "Airport City Ltd Fair Value". https://www.fairvalue-calculator.com/stock/ARPT

Peer Group

Real Estate Services · 521 stocks

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.

Quality Score 73 · Top 25%
Fair Value upside +44% · Above median
Return on equity (TTM) 7% · Above median
Return on assets 3% · Above median
Net margin (TTM) 62% · Top 25%
Operating margin (TTM) 69% · Top 25%
Revenue growth -4% · Below median
Debt / equity 0.57× · Higher than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 9.1× · Cheaper than median
P/B 0.19× · Cheaper than 75% of peers
P/S (TTM) 1.69× · Cheaper than median
P/FCF 3.9× · Pricier than median
EV/EBITDA 7.3× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 92 · sector 37
FUTURE 0 · sector 10
PAST 28 · sector 16
HEALTH 71 · sector 85
DIVIDEND 0 · sector 49

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
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KE Holdings 2423 HK$44.76 HK$18.03 -60%
Swire Properties Limited 1972 HK$23.90 HK$18.75 -22%
Plaza S.A MALLPLAZA 3,725 CLP 5,571 CLP +50%
SAGAA SAGAA kr 170.00 kr 75.55 -56%
Cencosud Shopping S.A CENCOMALLS 2,324 CLP 2,976 CLP +28%
PT Sarana Menara Nusantara Tbk. owns and TOWR 372.00 IDR 1,208 IDR +225%
PT Metropolitan Kentjana Tbk MKPI 20,975 IDR 19,160 IDR -9%
PT Bangun Kosambi Sukses Tbk, CBDK 3,530 IDR 3,464 IDR -2%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 3,998 ARS +60%

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Frequently asked questions

Is Airport City Ltd (ARPT) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 80.50 ILA versus a price of 55.86 ILA, about +44% (undervalued).
What is the fair value of ARPT?
Our model-based fair value for Airport City Ltd is 80.50 ILA (as of Jul 16, 2026), built from audited fundamentals. The current price is 55.86 ILA.
What is the quality score of ARPT?
Airport City Ltd has a Quality Score of 71/100. 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 revenue of Airport City Ltd (ARPT)?
Airport City Ltd reported trailing-twelve-month revenue of about 1.1B ILS (latest available figure, as of Jul 16, 2026).
What is the net profit margin of ARPT?
The net profit margin of Airport City Ltd is about 66.0%, meaning it keeps roughly 66.0% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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