Newlake Capital Partners Inc (NLCP) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Newlake Capital Partners Inc $25.12, price $15.06, upside +66.8%, quality 77 out of 100. Calculated from audited financials with 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, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range $8.47 – $20.44 · fair‑value band $15.64 – $35.00 · the $15.06 price screens below the $25.12 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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NewLake Capital Partners, Inc. is an internally-managed real estate investment trust that provides real estate capital to state-licensed cannabis operators through sale-leaseback transactions and third-party purchases and funding for build-to-suit projects.
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NewLake Capital Partners, Inc. is an internally-managed real estate investment trust that provides real estate capital to state-licensed cannabis operators through sale-leaseback transactions and third-party purchases and funding for build-to-suit projects. NewLake owns a portfolio of 34 properties, including 15 cultivation facilities and 19 dispensaries, primarily leased to single tenants under triple-net lease agreements. NewLake Capital Partners, Inc. was formed and incorporated on April 9, 2019 in Maryland, USA.
Stock analysis
Newlake Capital Partners Inc (NLCP) currently trades at $15.06, while our model-based Fair Value estimate is $25.12, implying the stock looks roughly 40.0% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $41.87 per share, and 13 of the 15 models we run sit above the $15.06 price.
Bear case: the Asset-Based group reads lowest at $12.63, and 2 of the 15 models stay below the price. Evidence for this calculation is high.
Scenario range: $15.64 (bear) to $35.00 (bull), the price of $15.06 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 77/100 (high quality), in the Real Estate sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Newlake Capital Partners Inc reported revenue of $51.1M in FY2025 versus $28.2M in FY2021, a compound +16.0%/yr. Reported net income was $26.3M in FY2025, compounding +22.8%/yr from FY2021.
Key figures
Market cap $310M · P/E ratio 11.8 · P/S ratio 6.10 · EPS (TTM) $1.25 · Dividend yield 11.4% · Net margin 51.5% · Return on equity 6.6% · Return on assets (EBIT) 5.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades about 6% below its 52-week high and 30% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −18% fair-value upside, at 67%, NLCP screens cheaper than that median.
Fair Value models
Bear $15.64Fair Value $25.12Bull $35.00
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.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.95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+1.9%
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.
+4.5%
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.
+34.4%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
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.
+30.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+18.6%
Dividend (yield on the price)11.4%
Profit margin 2021 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.41% → 53%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
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).
−9.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−2.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −11.1% a year for the price and −4.5% for the forecasts.
Compare Newlake Capital Partners Inc with another stock
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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 - Specialty · 33 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score76 · Top 25%
Fair Value upside+67% · Top 25%
Profitability
Return on equity (TTM)7% · Below median
Return on assets4% · Above median
Net margin (TTM)51% · Above median
Operating margin (TTM)49% · Above median
Growth and dividend
Revenue growth−7% · Bottom 25%
Dividend yield (TTM)11.4% · Top 25%
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs REIT - Specialty 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). "Newlake Capital Partners Inc Fair Value". https://www.fairvalue-calculator.com/stock/NLCP
Frequently asked questions
Is Newlake Capital Partners Inc (NLCP) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $25.12 versus a price of $15.06, about +67% upside (undervalued).
What is the fair value of NLCP?
Our model-based fair value for Newlake Capital Partners Inc is $25.12 (as of Sep 23, 2026), built from audited fundamentals. The current price: $15.06.
What is the quality score of NLCP?
Newlake Capital Partners Inc has a Quality Score of 77/100. 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 Newlake Capital Partners Inc (NLCP)?
Our model-based price target is the fair value of $25.12 (as of Sep 23, 2026) from 15 valuation models. Cautious scenario $15.64, optimistic scenario $35.00. It is a calculation from audited fundamentals, not an analyst target.
What is the Newlake Capital Partners Inc stock forecast for 2026?
Our models put fair value at $25.12, about +67% upside versus a price of $15.06 (undervalued). Cautious scenario $15.64, optimistic scenario $35.00. The calculation is refreshed regularly with new filings.
What is the revenue of Newlake Capital Partners Inc (NLCP)?
Newlake Capital Partners Inc reported trailing-twelve-month revenue of about $50.2M (latest available figure, as of Sep 23, 2026).
Does Newlake Capital Partners Inc pay a dividend?
Newlake Capital Partners Inc currently shows a dividend yield of about 11.42% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Newlake Capital Partners Inc (NLCP)?
For today's price to be fair in a discounted-cash-flow model, Newlake Capital Partners Inc would have to grow free cash flow by -9.0 % per year for five years (discount rate 10.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +34.4 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of NLCP use?
Our models discount Newlake Capital Partners Inc at 10.8 %: a base by market capitalisation (small), damped by beta 0.83, country premium for USA. 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 Newlake Capital Partners Inc that is -9.0 % per year a year over ten years, using the same discount rate (10.8 %) and the same formula as our fair value.
How much growth has Newlake Capital Partners Inc (NLCP) delivered so far?
Over the past 5 years revenue at Newlake Capital Partners Inc grew +34.4 % a year. The price currently implies -9.0 % 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 Newlake Capital Partners Inc (NLCP) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Newlake Capital Partners Inc (-9.0 % 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 Newlake Capital Partners Inc (NLCP)?
The free-cash-flow yield on the price is 13.72 %: that much free cash flow Newlake Capital Partners Inc produces per unit of market value. When it exceeds the discount rate of our models (10.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Newlake Capital Partners Inc (NLCP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Newlake Capital Partners Inc it is $25.12 per share (as of Sep 23, 2026), against a price of $15.06. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Newlake Capital Partners Inc stock overvalued or undervalued in 2026?
As of Sep 23, 2026, NLCP trades below its calculated fair value: price $15.06, fair value $25.12, a gap of about +67% (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 NLCP?
No. The price is what the market pays today ($15.06); the fair value is what the company's own numbers justify ($25.12). For Newlake Capital Partners Inc the two are $10.06 per share apart. That gap is exactly why we show both numbers side by side.
How much is Newlake Capital Partners Inc worth?
The market values Newlake Capital Partners Inc at about $310M (market capitalisation, as of Sep 23, 2026). Per share that is $15.06; our models calculate a fair value of $25.12 per share.
What do the bullish and bearish scenarios say about NLCP?
Our models span a range for Newlake Capital Partners Inc: cautious scenario $15.64, base $25.12, optimistic $35.00 per share (as of Sep 23, 2026, price $15.06). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NLCP?
Newlake Capital Partners Inc trades at a price-to-earnings ratio of 11.8 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $25.12 is built from several models across several years. Other multiples: P/B 0.8, P/S 6.2, EV/EBITDA 6.8.
How solid is the balance sheet of Newlake Capital Partners Inc (NLCP)?
Balance-sheet figures for Newlake Capital Partners Inc (as of Sep 23, 2026): return on equity 6.6%, debt of 0.00 per unit of equity. They feed the Quality Score of 77/100, which measures business quality independently of the share price.
How far is NLCP from its 52-week high?
Newlake Capital Partners Inc trades at $15.06, about 6% below its 52-week high of $16.10 and 30% above the low of $11.56 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $25.12 is for.
Which stocks are comparable to Newlake Capital Partners Inc?
From the same area (Real Estate) we also value Equinix, Inc, American Tower Corporation, Digital Realty Trust, Inc, Iron Mountain Incorporated, 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 Newlake Capital Partners Inc stock attractive at the current price?
The data as of Sep 23, 2026: price $15.06, calculated fair value $25.12 (+67%), Quality Score 77/100, 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 NLCP calculated?
We run Newlake Capital Partners Inc 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 $25.12, 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 13.2 % above its aggregate fair value. Newlake Capital Partners Inc 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 Newlake Capital Partners Inc (NLCP)?
The closing price on Sep 23, 2026 was $15.06. Our model-based fair value is $25.12, about +67% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Newlake Capital Partners Inc right now?
The rarer combination: high quality (77/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case ($15.64). The market is more pessimistic than our downside scenario. A fairly wide model range ($15.64 to $35.00) 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.
Key figures of Newlake Capital Partners Inc
How large is the market capitalisation of Newlake Capital Partners Inc (NLCP)?
The market capitalisation of Newlake Capital Partners Inc is $310M. 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 Newlake Capital Partners Inc (NLCP)?
The price-to-sales ratio of Newlake Capital Partners Inc is 6.10 (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 Newlake Capital Partners Inc (NLCP)?
Earnings per share at Newlake Capital Partners Inc are $1.25 (price ÷ EPS = P/E 11.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Newlake Capital Partners Inc (NLCP)?
The dividend yield of Newlake Capital Partners Inc is 11.4% (payout 138%). 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 Newlake Capital Partners Inc (NLCP)?
The net margin of Newlake Capital Partners Inc is 51.5% (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 Newlake Capital Partners Inc (NLCP)?
The return on equity (ROE) of Newlake Capital Partners Inc is 6.6% (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 Newlake Capital Partners Inc (NLCP)?
On an EBIT basis the return on assets of Newlake Capital Partners Inc is 5.2% (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 Newlake Capital Partners Inc (NLCP)?
The operating margin of Newlake Capital Partners Inc is 48.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Newlake Capital Partners Inc (NLCP)?
Revenue at Newlake Capital Partners Inc is growing −6.8% versus a year earlier (3y avg +4.5%). 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 Newlake Capital Partners Inc (NLCP)?
Earnings per share at Newlake Capital Partners Inc are growing −8.5% versus a year earlier. How much earnings per share grew versus a year earlier.
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Broad data
Sep 23, 2026