Blue Square Real Estate Ltd (BLSR) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Blue Square Real Estate Ltd stock ILS 233, price ILS 265, that is 12.2% below the price, quality 48 out of 100. Rating: overvalued. Calculated from audited financials with 15 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range 135.02 ILS – 466.57 ILS · fair‑value band 224.99 ILS – 347.55 ILS · the 265.10 ILS price screens above the 232.86 ILS fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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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.
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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 265.10 ILS, while our model-based Fair Value estimate is 232.86 ILS, 12% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 441.14 ILS per share, and 5 of the 15 models we run sit above the 265.10 ILS price.
Bear case: the DCF Models group reads lowest at 63.88 ILS, and 10 of the 15 models stay below the price. Data coverage for this calculation is high.
Scenario range: 224.99 ILS (bear) to 347.55 ILS (bull), the price of 265.10 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 48/100 (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 3.1B ILS Small · P/E ratio 5.4 · P/S ratio 5.35 · EPS (TTM) 49.53 ILS · Dividend yield 5.6% · Net margin 104% · Return on equity 14.5% · Return on assets (EBIT) 7.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 60 out of 100 (low confidence).
What moves the price
The share trades about 43% 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 −17% fair-value upside, at −12%, BLSR screens cheaper than that median.
Fair Value models
Bear224.99 ILSFair Value 232.86 ILSBull347.55 ILS
Price 265.10 ILS · Downside -12.2%
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 (29.53 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.
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%
Start year 2020 (pandemic). Over 10 years: +9.3% a year
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.
+21.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+16.1%
Dividend (yield on the price)5.6%
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.16.1% vs 14.7%, 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%
Pace: the 5-year rate starts in 2020 (pandemic)
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).
+33.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Israel: IMF forecast 2.1% a year to 2030, 1.7% from 2016 to 2025) that is about +30.3% a year for the 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 · 475 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score48 · Bottom 25%
Fair Value upside−12.2% · Below median
Profitability
Return on equity (12 months)14.5% · Top 25%
Return on assets6.1% · Top 25%
Net margin (12 months)104.3% · Top 25%
Operating margin (12 months)62.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−1.4% · Below median
Dividend yield (12 months)5.6% · Above median
Balance sheet
Debt / equity1.00× · 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). "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 Nov 5, 2026, our model estimates a fair value of 232.86 ILS versus a price of 265.10 ILS, about 12% lower (overvalued).
What is the fair value of BLSR?
Our model-based fair value for Blue Square Real Estate Ltd is 232.86 ILS (as of Nov 5, 2026), built from audited fundamentals. The current price: 265.10 ILS.
What is the quality score of BLSR?
Blue Square Real Estate Ltd has a Quality Score of 48/100. 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 ILS (as of Nov 5, 2026) from 15 valuation models. Cautious scenario 224.99 ILS, optimistic scenario 347.55 ILS. 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 ILS, about 12% lower versus a price of 265.10 ILS (overvalued). Cautious scenario 224.99 ILS, optimistic scenario 347.55 ILS. 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 588M ILS (latest available figure, as of Nov 5, 2026).
Does Blue Square Real Estate Ltd pay a dividend?
Blue Square Real Estate Ltd currently shows a dividend yield of 5.57% relative to its recent price (as of Nov 5, 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 +33.0 % 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 Nov 5, 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 0.52, 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 +33.0 % 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 +33.0 % 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 +2.7 % a year. That is the yardstick for the growth priced into Blue Square Real Estate Ltd (+33.0 % 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 4.24 %: 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 ILS per share (as of Nov 5, 2026), against a price of 265.10 ILS. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Blue Square Real Estate Ltd stock overvalued or undervalued in 2026?
As of Nov 5, 2026, BLSR trades above its calculated fair value: price 265.10 ILS, fair value 232.86 ILS, a gap of about −12% (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 (265.10 ILS); the fair value is what the company's own numbers justify (232.86 ILS). For Blue Square Real Estate Ltd the two are 32.24 ILS 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 3.1B ILS (market capitalisation, as of Nov 5, 2026). Per share that is 265.10 ILS; our models calculate a fair value of 232.86 ILS 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 ILS, base 232.86 ILS, optimistic 347.55 ILS per share (as of Nov 5, 2026, price 265.10 ILS). 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 5.4 (as of Nov 5, 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 ILS is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 7.7. Other multiples: P/B 0.7, P/S 5.4, EV/EBITDA 17.3.
How solid is the balance sheet of Blue Square Real Estate Ltd (BLSR)?
Balance-sheet figures for Blue Square Real Estate Ltd (as of Nov 5, 2026): return on equity 14.5%, debt of 1.00 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is BLSR from its 52-week high?
Blue Square Real Estate Ltd trades at 265.10 ILS, about 43% below its 52-week high of 466.57 ILS and at the low of 265.10 ILS (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of 232.86 ILS is for.
Which stocks are comparable to Blue Square Real Estate Ltd?
From the same area (Real Estate) we also value CBRE Group, KE Holdings, Cellnex Telecom, S.A, 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 Blue Square Real Estate Ltd stock attractive at the current price?
The data as of Nov 5, 2026: price 265.10 ILS, calculated fair value 232.86 ILS (−12%), Quality Score 48/100, 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 BLSR calculated?
We run Blue Square Real Estate Ltd 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 232.86 ILS, 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 15.5% 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 Nov 5, 2026 was 265.10 ILS. Our model-based fair value is 232.86 ILS, about 12% lower (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?
As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
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 3.1B 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 Blue Square Real Estate Ltd (BLSR)?
The price-to-sales ratio of Blue Square Real Estate Ltd is 5.35 (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 Blue Square Real Estate Ltd (BLSR)?
Earnings per share at Blue Square Real Estate Ltd are 49.53 ILS (price ÷ EPS = P/E 5.4). 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 5.6% (payout 29.8%). 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 104% (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 Blue Square Real Estate Ltd (BLSR)?
The return on equity (ROE) of Blue Square Real Estate Ltd is 14.5% (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 62.9% (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 −1.4% 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 −61.6% 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 ILS (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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Broad data
Nov 5, 2026