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Kardan NV (KRNV) fair value: what the stock is really worth

As of Jun 12, 2026: fair value of Kardan NV ILS 0.03, price ILS 0.01, upside +200.0%, quality 29 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? No
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Real Estate · Il · ISIN NL0000113652

KN Thin data Jun 23, 2026

Kardan NV

KRNV · TA

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value 0.0300 ILA · Strongly undervalued (+200.0%)
!Quality 29/100
!Weak Growth (revenue 5y −15.5 %/yr)
!Loss-making · -46.3% net margin (FY2018)
!Negative equity (buybacks among others)
!Trails peers (2/7)
!Narrow moat 13/100
!Evidence only low, 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

5.34 ILA 0.0100 ILA Fair Value 0.0300 ILA Sep 2020 Jun 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jun 23, 2026.

How to read this chart

60‑month range 0.0100 ILA – 5.34 ILA · fair‑value band 0.0200 ILA – 0.0300 ILA · the 0.0100 ILA price screens below the 0.0300 ILA fair value. Dashed = 300-day average. As of Jun 23, 2026.

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Company profile

Kardan N.V., through its subsidiaries, engages in real estate development business in China and internationally. The company operates in two segments, Real Estate " Development and Real Estate " Investment Property.

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Kardan N.V., through its subsidiaries, engages in real estate development business in China and internationally. The company operates in two segments, Real Estate " Development and Real Estate " Investment Property. It develops and sells commercial retail estate properties, and residential and small office apartments; and holds, operates, and manages shopping centers under the Galleria brand, as well as develops and leases investment properties. It also provides property management services. The company was incorporated in 2003 and is headquartered in Amsterdam, the Netherlands.

Stock analysis

Kardan NV (KRNV) currently trades at 0.0100 ILA, while our model-based Fair Value estimate is 0.0300 ILA, implying the stock looks roughly 66.7% undervalued today.

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Valuation

How firm this estimate is: it rests on 3 models at a data quality of 87/100, which puts the evidence level at low.

Scenario range: 0.0200 ILA (bear) to 0.0300 ILA (bull), the price of 0.0100 ILA 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 29/100 (below-average quality), in the Real Estate sector.

Weak Growth: Revenue growth is weak, negative or inconsistent.

Kardan NV reported revenue of €79.5M in FY2018 versus €194M in FY2014, a compound −20.0%/yr. Reported net income was −€36.8M in FY2018.

Key figures

Market cap 21.5M ILA · P/S ratio 0.68 · EPS (TTM) −0.7610 ILA · Net margin −46.3% · Return on assets (EBIT) −1.1% · Operating margin −5.0% · Revenue (TTM) 31.4M ILA · Revenue growth (YoY) +61.6%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 35 out of 100 (low confidence).

What moves the price

The share trades about 80% 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 50% fair-value upside, at 200%, KRNV screens cheaper than that median.

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Quality Score breakdown

Overall quality 29/100

Of which business quality 25 · Market factors (momentum, volatility) 11

Profitability 1
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 1
Earnings quality: real cash, not paper profit
Fin. Strength 14
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 22
Calm price path (market factor)
Momentum 11
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)

Open the full quality analysis →

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. 0/100
Revenue growth is weak, negative or inconsistent.
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.
−7.2% (2013) → −7.2% (2018)
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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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 Operations · 36 stocks

Beats the industry median on 2/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 29 · Bottom 25%
Fair Value upside +200.0% · Top 25%
Profitability
Return on equity (TTM) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets −0.3% · Bottom 25%
Net margin (TTM) −46.3% · Bottom 25%
Operating margin (TTM) −5.0% · Bottom 25%
Growth and dividend
Revenue growth 61.6% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Real Estate Operations median · lower = cheaper

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 73
FUTURE (revenue growth)100 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)0 · sector 89
DIVIDEND (yield)0 · sector 100

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

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 Real Estate Operations stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
SMPH SMPH 16.00 PHP 14.25 PHP −11%
AC AC 492.00 PHP 738.41 PHP +50%
ALI ALI 15.12 PHP 9.14 PHP −40%
MEG MEG 2.12 PHP 4.04 PHP +91%
ALLHC ALLHC 1.12 PHP 0.3900 PHP −65%
DMW DMW 4.70 PHP 3.88 PHP −17%
FLI FLI 0.7000 PHP 0.9000 PHP +29%
SLI SLI 1.89 PHP 3.26 PHP +72%
SHNG SHNG 3.03 PHP 7.58 PHP +150%
CLI CLI 1.99 PHP 4.98 PHP +150%

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Kardan NV · Fair Value
0.0300 ILA +67%Fair Value
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Cite: Fair Value Calculator (2026). "Kardan NV Fair Value". https://www.fairvalue-calculator.com/stock/KRNV

Frequently asked questions

Is Kardan NV (KRNV) overvalued or undervalued?
As of Jun 23, 2026, our model estimates a fair value of 0.0300 ILA versus the last price from Jun 12, 2026 of 0.0100 ILA, about +200% upside (undervalued).
What is the fair value of KRNV?
Our model-based fair value for Kardan NV is 0.0300 ILA (as of Jun 23, 2026), built from audited fundamentals. Last price (from Jun 12, 2026): 0.0100 ILA.
What is the quality score of KRNV?
Kardan NV has a Quality Score of 29/100. 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 Kardan NV (KRNV)?
Our model-based price target is the fair value of 0.0300 ILA (as of Jun 23, 2026) from 3 valuation models. Cautious scenario 0.0200 ILA, optimistic scenario 0.0300 ILA. It is a calculation from audited fundamentals, not an analyst target.
What is the Kardan NV stock forecast for 2026?
Our models put fair value at 0.0300 ILA, about +200% upside versus the last price from Jun 12, 2026 of 0.0100 ILA (undervalued). Cautious scenario 0.0200 ILA, optimistic scenario 0.0300 ILA. The calculation is refreshed regularly with new filings.
What is the revenue of Kardan NV (KRNV)?
Kardan NV reported trailing-twelve-month revenue of about 31.4M ILS (latest available figure, as of Jun 23, 2026).
What is the intrinsic value of Kardan NV (KRNV)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kardan NV it is 0.0300 ILA per share (as of Jun 23, 2026), against a price of 0.0100 ILA. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Kardan NV stock overvalued or undervalued in 2026?
As of Jun 23, 2026, KRNV trades below its calculated fair value: price 0.0100 ILA, fair value 0.0300 ILA, a gap of about +200% (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 KRNV?
No. The price is what the market pays today (0.0100 ILA); the fair value is what the company's own numbers justify (0.0300 ILA). For Kardan NV the two are 0.0200 ILA per share apart. That gap is exactly why we show both numbers side by side.
How much is Kardan NV worth?
The market values Kardan NV at about 21.5M ILA (market capitalisation, as of Jun 23, 2026). Per share that is 0.0100 ILA; our models calculate a fair value of 0.0300 ILA per share.
What do the bullish and bearish scenarios say about KRNV?
Our models span a range for Kardan NV: cautious scenario 0.0200 ILA, base 0.0300 ILA, optimistic 0.0300 ILA per share (as of Jun 23, 2026, price 0.0100 ILA). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Kardan NV (KRNV)?
Balance-sheet figures for Kardan NV (as of Jun 23, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 29/100, which measures business quality independently of the share price.
How far is KRNV from its 52-week high?
Kardan NV trades at 0.0100 ILA, about 80% below its 52-week high of 0.0490 ILA and at the low of 0.0100 ILA (as of Jun 12, 2026). Distance from the high says nothing about value: that is what the fair value of 0.0300 ILA is for.
Which stocks are comparable to Kardan NV?
From the same area (Real Estate) we also value SMPH, AC, ALI, MEG, 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 Kardan NV stock attractive at the current price?
The data as of Jun 23, 2026: price 0.0100 ILA, calculated fair value 0.0300 ILA (+200%), Quality Score 29/100, from 3 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 KRNV calculated?
We run Kardan NV through 3 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 0.0300 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 14.5 % above its aggregate fair value. Kardan NV currently trades 67 % 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 Kardan NV (KRNV)?
The latest price we hold is from Jun 12, 2026 and stands at 0.0100 ILA. Our model-based fair value is 0.0300 ILA, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kardan NV right now?
The large discount to fair value meets weak quality (29/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (0.0200 ILA). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Key figures of Kardan NV

How large is the market capitalisation of Kardan NV (KRNV)?
The market capitalisation of Kardan NV is 21.5M 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 Kardan NV (KRNV)?
The price-to-sales ratio of Kardan NV is 0.68 (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 Kardan NV (KRNV)?
Earnings per share at Kardan NV are −0.7610 ILA. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Kardan NV (KRNV)?
The net margin of Kardan NV is −46.3% (fiscal year 2018). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of Kardan NV (KRNV)?
On an EBIT basis the return on assets of Kardan NV is −1.1% (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 Kardan NV (KRNV)?
The operating margin of Kardan NV is −5.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kardan NV (KRNV)?
Revenue at Kardan NV is growing +61.6% versus a year earlier (3y avg +136%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
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