Blue Square Real Estate Ltd (BLSR) fair value: what the stock is really worth
We calculate from audited financials what Blue Square Real Estate Ltd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 21, 2026.
How to read this chart
60‑month range 135.02 ILA – 466.57 ILA · fair‑value band 224.99 ILA – 347.55 ILA · the 321.00 ILA price screens above the 232.86 ILA fair value. Dashed = 300-day average. As of Sep 21, 2026.
Blue Square Real Estate Ltd provides real estate services in Israel. It leases commercial spaces, including shopping centers and small retail complexes, logistics, and offices.
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Blue Square Real Estate Ltd provides real estate services in Israel. It leases commercial spaces, including shopping centers and small retail complexes, logistics, and offices. The company also offers innovation, development, and improvement of commercial properties, shopping malls, logistics centers, and office towers, as well as undertakes residential, mixed-use, and urban renewal and projects. In addition, it provides It offers residential construction services. The company was incorporated in 2005 and is based in Tel Aviv-Yafo, Israel. Blue Square Real Estate Ltd is a subsidiary of Alon Blue Square Israel Ltd.
Stock analysis
Blue Square Real Estate Ltd (BLSR) currently trades at 321.00 ILA, while our model-based Fair Value estimate is 232.86 ILA, implying the stock looks roughly 37.9% overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 515.84 ILA per share, and 4 of the 13 models we run sit above the 321.00 ILA price.
Bear case: the Growth DCF group reads lowest at 40.03 ILA, and 9 of the 13 models stay below the price. Evidence for this calculation is high.
Scenario range: 224.99 ILA (bear) to 347.55 ILA (bull), the price of 321.00 ILA 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 47/100 (below-average quality), in the Real Estate sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Blue Square Real Estate Ltd reported revenue of 563M ILS in FY2025 versus 383M ILS in FY2021, a compound +10.1%/yr. Reported net income was 764M ILS in FY2025, compounding +8.3%/yr from FY2021.
Key figures
Market cap 3.9B ILA · P/E ratio 4.9 · P/S ratio 6.63 · EPS (TTM) 65.73 ILA · Dividend yield 8.4% · Net margin 136% · Return on equity 19.9% · Return on assets (EBIT) 7.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
For context, the median of 10 Real Estate peers we cover trades at 2% fair-value upside, at −27%, BLSR screens richer than that median.
Fair Value models
Bear 224.99 ILAFair Value 232.86 ILABull 347.55 ILA
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 (28.08 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.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.
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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−11.9%
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.
+9.8%
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.
+12.6%
Revenue growth 19 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.
+8.7%
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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.
+24.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+16.1%
Dividend (yield on the price)8.4%
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.16% vs 15%, steady
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.89% → 58%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+34.9%
Yearly growth needed for the next five years to justify today's price.
Compare Blue Square Real Estate Ltd with another stock
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 · 536 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score48 · Below median
Fair Value upside−12% · Below median
Profitability
Return on equity (TTM)20% · Top 25%
Return on assets2% · Above median
Net margin (TTM)136% · Top 25%
Operating margin (TTM)60% · Top 25%
Growth and dividend
Revenue growth−3% · Below median
Dividend yield (TTM)8.4% · Top 25%
Balance sheet
Debt / equity1.00× · Highest 25%
Valuation Multiplesvs Real Estate Services median · lower = cheaper
P/E (TTM)4.9× · Cheapest 25%
P/B0.29× · Cheapest 25%
P/S (TTM)2.06× · Pricier than median
P/FCF8.9× · Pricier than median
EV/EBITDA12.4× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 31
FUTURE (revenue growth)0· sector 12
PAST (return on equity)80· sector 16
HEALTH (low debt)50· sector 84
DIVIDEND (yield)100· sector 65
VALUE 0: the price sits above our fair-value range.
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). "Blue Square Real Estate Ltd Fair Value". https://www.fairvalue-calculator.com/stock/BLSR
Frequently asked questions
Is Blue Square Real Estate Ltd (BLSR) overvalued or undervalued?
As of Sep 21, 2026, our model estimates a fair value of 232.86 ILA versus a price of 321.00 ILA, about −27% upside (overvalued).
What is the fair value of BLSR?
Our model-based fair value for Blue Square Real Estate Ltd is 232.86 ILA (as of Sep 21, 2026), built from audited fundamentals. The current price: 321.00 ILA.
What is the quality score of BLSR?
Blue Square Real Estate Ltd has a Quality Score of 47/100. 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 Blue Square Real Estate Ltd (BLSR)?
Our model-based price target is the fair value of 232.86 ILA (as of Sep 21, 2026) from 16 valuation models. Cautious scenario 224.99 ILA, optimistic scenario 347.55 ILA. It is a calculation from audited fundamentals, not an analyst target.
What is the Blue Square Real Estate Ltd stock forecast for 2026?
Our models put fair value at 232.86 ILA, about −27% upside versus a price of 321.00 ILA (overvalued). Cautious scenario 224.99 ILA, optimistic scenario 347.55 ILA. The calculation is refreshed regularly with new filings.
What is the revenue of Blue Square Real Estate Ltd (BLSR)?
Blue Square Real Estate Ltd reported trailing-twelve-month revenue of about 595M ILS (latest available figure, as of Sep 21, 2026).
Does Blue Square Real Estate Ltd pay a dividend?
Blue Square Real Estate Ltd currently shows a dividend yield of about 8.43% relative to its recent price (as of Sep 21, 2026).
What growth is priced into Blue Square Real Estate Ltd (BLSR)?
For today's price to be fair in a discounted-cash-flow model, Blue Square Real Estate Ltd would have to grow free cash flow by +34.9 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +12.6 % per year. As of Sep 21, 2026.
What discount rate (WACC) does the fair value of BLSR use?
Our models discount Blue Square Real Estate Ltd at 11.6 %: a base by market capitalisation (small), damped by beta 0.53, country premium for Israel. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Blue Square Real Estate Ltd that is +34.9 % per year a year over ten years, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has Blue Square Real Estate Ltd (BLSR) delivered so far?
Over the past 5 years revenue at Blue Square Real Estate Ltd grew +12.6 % a year. The price currently implies +34.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Blue Square Real Estate Ltd (BLSR) growing?
The median revenue growth in the sector is +1.6 % a year. That is the yardstick for the growth priced into Blue Square Real Estate Ltd (+34.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Blue Square Real Estate Ltd (BLSR)?
The free-cash-flow yield on the price is 3.50 %: that much free cash flow Blue Square Real Estate Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Blue Square Real Estate Ltd (BLSR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Blue Square Real Estate Ltd it is 232.86 ILA per share (as of Sep 21, 2026), against a price of 321.00 ILA. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Blue Square Real Estate Ltd stock overvalued or undervalued in 2026?
As of Sep 21, 2026, BLSR trades above its calculated fair value: price 321.00 ILA, fair value 232.86 ILA, a gap of about −27% (overvalued). 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 BLSR?
No. The price is what the market pays today (321.00 ILA); the fair value is what the company's own numbers justify (232.86 ILA). For Blue Square Real Estate Ltd the two are 88.14 ILA per share apart. That gap is exactly why we show both numbers side by side.
How much is Blue Square Real Estate Ltd worth?
The market values Blue Square Real Estate Ltd at about 3.9B ILA (market capitalisation, as of Sep 21, 2026). Per share that is 321.00 ILA; our models calculate a fair value of 232.86 ILA per share.
What do the bullish and bearish scenarios say about BLSR?
Our models span a range for Blue Square Real Estate Ltd: cautious scenario 224.99 ILA, base 232.86 ILA, optimistic 347.55 ILA per share (as of Sep 21, 2026, price 321.00 ILA). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BLSR?
Blue Square Real Estate Ltd trades at a price-to-earnings ratio of 4.9 (as of Sep 21, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 232.86 ILA is built from several models across several years. Other multiples: P/B 0.3, P/S 2.1, EV/EBITDA 12.4.
How solid is the balance sheet of Blue Square Real Estate Ltd (BLSR)?
Balance-sheet figures for Blue Square Real Estate Ltd (as of Sep 21, 2026): return on equity 19.9%, debt of 1.00 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
Which stocks are comparable to Blue Square Real Estate Ltd?
From the same area (Real Estate) we also value CBRE Group, Vonovia SE, Cellnex Telecom, S.A, KE 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 Blue Square Real Estate Ltd stock attractive at the current price?
The data as of Sep 21, 2026: price 321.00 ILA, calculated fair value 232.86 ILA (−27%), Quality Score 47/100, from 16 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 BLSR calculated?
We run Blue Square Real Estate Ltd through 16 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 232.86 ILA, 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 16.1 % above its aggregate fair value. Blue Square Real Estate Ltd itself currently trades above fair value. 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 Blue Square Real Estate Ltd (BLSR)?
The closing price on Sep 17, 2026 was 321.00 ILA. Our model-based fair value is 232.86 ILA, about −27% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Blue Square Real Estate Ltd right now?
Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of Blue Square Real Estate Ltd (BLSR) come from?
Earnings per share at Blue Square Real Estate Ltd grew +15.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +11.1 %, EBIT margin −0.9 %, tax rate −0.1 %, residual (interest, one-offs) +5.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Blue Square Real Estate Ltd
How large is the market capitalisation of Blue Square Real Estate Ltd (BLSR)?
The market capitalisation of Blue Square Real Estate Ltd is 3.9B ILA. 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 Blue Square Real Estate Ltd (BLSR)?
The price-to-sales ratio of Blue Square Real Estate Ltd is 6.63 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Blue Square Real Estate Ltd (BLSR)?
Earnings per share at Blue Square Real Estate Ltd are 65.73 ILA (price ÷ EPS = P/E 4.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Blue Square Real Estate Ltd (BLSR)?
The dividend yield of Blue Square Real Estate Ltd is 8.4% (payout 41.2%). 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 Blue Square Real Estate Ltd (BLSR)?
The net margin of Blue Square Real Estate Ltd is 136% (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 Blue Square Real Estate Ltd (BLSR)?
The return on equity (ROE) of Blue Square Real Estate Ltd is 19.9% (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 Blue Square Real Estate Ltd (BLSR)?
On an EBIT basis the return on assets of Blue Square Real Estate Ltd is 7.3% (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 Blue Square Real Estate Ltd (BLSR)?
The operating margin of Blue Square Real Estate Ltd is 59.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Blue Square Real Estate Ltd (BLSR)?
Revenue at Blue Square Real Estate Ltd is growing −2.9% versus a year earlier (3y avg +9.8%). 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 Blue Square Real Estate Ltd (BLSR)?
Earnings per share at Blue Square Real Estate Ltd are growing +48.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Blue Square Real Estate Ltd (BLSR) carry?
The net debt of Blue Square Real Estate Ltd is 5.5B ILA (fiscal year 2025, ≈ 40.2 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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