Nextensa NV (NEXTA) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Nextensa NV stock €55.92, price €45.96, upside +21.7%, quality 52 out of 100. Rating: undervalued. Calculated from audited financials with 9 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range €34.79 – €71.83 · fair‑value band €41.94 – €69.90 · the €45.96 price screens below the €55.92 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Nextensa NV/SA is a leading real estate investor and developer creating sustainable and vibrant spaces for living, working and shopping, with a focus on generating value for all stakeholders.
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It was established as a regulated Belgian real estate company under the name Leasinvest Real Estate before becoming, in 2021, a mixed real estate investor and developer following a merger with Extensa.
Nextensa holds a unique market position by combining recurring rental income from real estate investments with the added-value potential of development activities in which authenticity and sustainability are paramount.
Nextensa manages a high-quality investment portfolio with a focus on office and retail. In addition, the company is committed to sustainable urban development, realising innovative and forward-looking projects that contribute to a pleasant and mixed living environment.
One of its most prominent developments is the redevelopment of the iconic Tour & Taxis site in Brussels, an ambitious project that brings together living, working and leisure in a dynamic and green urban environment.
Nextensa is a listed integrated real estate group, listed on Euronext Brussels and active in Luxembourg, Belgium and Austria. Nextensa NV/SA was incorporated in 1999 in Belgium.
Stock analysis
Nextensa NV (NEXTA) currently trades at €45.96, while our model-based Fair Value estimate is €55.92, implying the stock looks roughly 18% undervalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of €56.77 per share, and 4 of the 8 models we run sit above the €45.96 price.
Bear case: the Dividend Discount group reads lowest at €10.21, and 4 of the 8 models stay below the price. Data coverage for this calculation is high.
Scenario range: €41.94 (bear) to €69.90 (bull), the price of €45.96 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 52/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Nextensa NV reported revenue of €147M in FY2025 versus €94.8M in FY2021, a compound +11.6%/yr. Reported net income was €33.2M in FY2025, compounding −11.1%/yr from FY2021.
Key figures
Market cap €464M Small · P/E ratio 14.1 · P/S ratio 4.77 · EPS (TTM) €3.27 · Dividend yield 2.2% · Net margin 31.1% · Return on equity 3.6% · Return on assets (EBIT) 2.8% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 56 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and 17% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 5% fair-value upside, at 22%, NEXTA screens cheaper than that median.
Fair Value models
Bear€41.94Fair Value €55.92Bull€69.90
Price €45.96 · Upside +21.7%
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 (€1.68 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.55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+9.5%
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.
+2.6%
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.
+17.6%
Start year 2020 (pandemic). Over 10 years: +10.5% a year
Revenue growth 24 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.
+45.9%
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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. Basis: EBIT basis.
−11.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−13.9%
Dividend (yield on the price)2.2%
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.−13.8% vs −6.1%, slowing
Profit margin 2019 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.75% → 29%
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.REIT - Diversified · 138 stocks
Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside+21.7% · Above median
Profitability
Return on equity (12 months)3.6% · Below median
Return on assets2.2% · Below median
Net margin (12 months)31.1% · Below median
Operating margin (12 months)78.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−41.6% · Bottom 25%
Dividend yield (12 months)2.2% · Bottom 25%
Balance sheet
Debt / equity0.43× · Below median
Valuation Multiplesvs REIT - Diversified 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). "Nextensa NV Fair Value". https://www.fairvalue-calculator.com/stock/NEXTA
Frequently asked questions
Is Nextensa NV (NEXTA) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of €55.92 versus a price of €45.96, about +22% upside (undervalued).
What is the fair value of NEXTA?
Our model-based fair value for Nextensa NV is €55.92 (as of Nov 6, 2026), built from audited fundamentals. The current price: €45.96.
What is the quality score of NEXTA?
Nextensa NV has a Quality Score of 52/100. 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 Nextensa NV (NEXTA)?
Our model-based price target is the fair value of €55.92 (as of Nov 6, 2026) from 9 valuation models. Cautious scenario €41.94, optimistic scenario €69.90. It is a calculation from audited fundamentals, not an analyst target.
What is the Nextensa NV stock forecast for 2026?
Our models put fair value at €55.92, about +22% upside versus a price of €45.96 (undervalued). Cautious scenario €41.94, optimistic scenario €69.90. The calculation is refreshed regularly with new filings.
What is the revenue of Nextensa NV (NEXTA)?
Nextensa NV reported trailing-twelve-month revenue of about €97.3M (latest available figure, as of Nov 6, 2026).
Does Nextensa NV pay a dividend?
Nextensa NV currently shows a dividend yield of 2.18% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Nextensa NV (NEXTA) and when is the ex-dividend date?
Nextensa NV pays a dividend of €1.00 per share a year, a dividend yield of 2.2%. The last ex-dividend date was May 19, 2026. The payout ratio is 33.7% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of Nextensa NV (NEXTA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nextensa NV it is €55.92 per share (as of Nov 6, 2026), against a price of €45.96. It is the blended result of 9 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Nextensa NV stock overvalued or undervalued in 2026?
As of Nov 6, 2026, NEXTA trades below its calculated fair value: price €45.96, fair value €55.92, a gap of about +22% (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 NEXTA?
No. The price is what the market pays today (€45.96); the fair value is what the company's own numbers justify (€55.92). For Nextensa NV the two are €9.96 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nextensa NV worth?
The market values Nextensa NV at about €464M (market capitalisation, as of Nov 6, 2026). Per share that is €45.96; our models calculate a fair value of €55.92 per share.
What do the bullish and bearish scenarios say about NEXTA?
Our models span a range for Nextensa NV: cautious scenario €41.94, base €55.92, optimistic €69.90 per share (as of Nov 6, 2026, price €45.96). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NEXTA?
Nextensa NV trades at a price-to-earnings ratio of 14.1 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €55.92 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 13.1. Other multiples: PEG 8.4, P/B 0.6, P/S 4.8, EV/EBITDA 17.5.
What is the PEG ratio of NEXTA?
The PEG ratio of Nextensa NV is 8.38 (P/E divided by earnings growth, as of Nov 6, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Nextensa NV (NEXTA)?
Balance-sheet figures for Nextensa NV (as of Nov 6, 2026): return on equity 3.6%, debt of 0.43 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is NEXTA from its 52-week high?
Nextensa NV trades at €45.96, about 6% below its 52-week high of €48.90 and 17% above the low of €39.44 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €55.92 is for.
Which stocks are comparable to Nextensa NV?
From the same area (Real Estate) we also value Goodman Group, VICI Properties Inc, W. P. Carey Inc, Charter Hall Group, 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 Nextensa NV stock attractive at the current price?
The data as of Nov 6, 2026: price €45.96, calculated fair value €55.92 (+22%), Quality Score 52/100, from 9 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 NEXTA calculated?
We run Nextensa NV through 9 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of €55.92 builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. Nextensa NV currently trades 18% 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 Nextensa NV (NEXTA)?
The closing price on Nov 6, 2026 was €45.96. Our model-based fair value is €55.92, about +22% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nextensa NV right now?
Solid quality (52/100) 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.
Where does the earnings growth of Nextensa NV (NEXTA) come from?
Earnings per share at Nextensa NV grew −8.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.8 %, EBIT margin −8.4 %, tax rate −3.7 %, residual (interest, one-offs) +2.1 %. 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 Nextensa NV
How large is the market capitalisation of Nextensa NV (NEXTA)?
The market capitalisation of Nextensa NV is €464M. 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 Nextensa NV (NEXTA)?
The price-to-sales ratio of Nextensa NV is 4.77 (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 Nextensa NV (NEXTA)?
Earnings per share at Nextensa NV are €3.27 (price ÷ EPS = P/E 14.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Nextensa NV (NEXTA)?
The dividend yield of Nextensa NV is 2.2% (payout 30.6%). 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 Nextensa NV (NEXTA)?
The net margin of Nextensa NV is 31.1% (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 Nextensa NV (NEXTA)?
The return on equity (ROE) of Nextensa NV is 3.6% (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 Nextensa NV (NEXTA)?
On an EBIT basis the return on assets of Nextensa NV is 2.8% (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 Nextensa NV (NEXTA)?
The operating margin of Nextensa NV is 78.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nextensa NV (NEXTA)?
Revenue at Nextensa NV is growing −41.6% versus a year earlier (3y avg +2.6%). 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 Nextensa NV (NEXTA)?
Earnings per share at Nextensa NV are growing −15.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Nextensa NV (NEXTA) generate?
The free cash flow of Nextensa NV is −€82.5M (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 Nextensa NV (NEXTA) carry?
The net debt of Nextensa NV is €593M (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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Broad data
Nov 6, 2026