Norstar (NSTR) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Norstar ILS 10.06, price ILS 7.41, upside +35.8%, quality 44 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 24, 2026.
How to read this chart
60‑month range 6.53 ILA – 53.91 ILA · fair‑value band 2.01 ILA – 40.24 ILA · the 7.41 ILA price screens below the 10.06 ILA fair value. 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.
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Norstar Holdings Inc develops, rents, and manages real estate properties in Northern Europe, Central and Eastern Europe, Israel, Brazil, and the United States. It develops commerce, residential, and office properties. The company was formerly known as Gazit Inc. and changed its name to Norstar Holdings Inc in May 2011.
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Norstar Holdings Inc develops, rents, and manages real estate properties in Northern Europe, Central and Eastern Europe, Israel, Brazil, and the United States. It develops commerce, residential, and office properties. The company was formerly known as Gazit Inc. and changed its name to Norstar Holdings Inc in May 2011. Norstar Holdings Inc was incorporated in 1962 and is based in Panama City, Panama.
Stock analysis
Norstar (NSTR) currently trades at 7.41 ILA, while our model-based Fair Value estimate is 10.06 ILA, implying the stock looks roughly 26.4% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 56.61 ILA per share, and 3 of the 5 models we run sit above the 7.41 ILA price.
Bear case: the Dividend Discount group reads lowest at 1.07 ILA, and 2 of the 5 models stay below the price. Evidence for this calculation is medium.
Scenario range: 2.01 ILA (bear) to 40.24 ILA (bull), the price of 7.41 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 44/100 (below-average quality), in the Real Estate sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Norstar reported revenue of 2.3B ILS in FY2025 versus 2.3B ILS in FY2021, a compound +0.0%/yr. Reported net income was −23.0M ILS in FY2025.
Key figures
Market cap 536M ILA · P/E ratio 4.6 · P/S ratio 0.21 · EPS (TTM) 1.62 ILA · Dividend yield 1.7% · Net margin −1.0% · Return on equity 6.5% · Return on assets (EBIT) 3.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 30% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −37% fair-value upside, at 36%, NSTR screens cheaper than that median.
Fair Value models
Bear 2.01 ILAFair Value 10.06 ILABull 40.24 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 (1.19 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.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−9.2%
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.
−0.1%
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.
−0.9%
Start year 2020 (pandemic). Over 10 years: −10.9% a year
Revenue growth 20 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.
+0.3%
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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.
−14.2% (2020) → 56.1% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
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 · 546 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score44 · Below median
Fair Value upside+36% · Above median
Profitability
Return on equity (TTM)7% · Above median
Return on assets3% · Above median
Net margin (TTM)4% · Below median
Operating margin (TTM)52% · Above median
Growth and dividend
Revenue growth−2% · Below median
Dividend yield (TTM)1.7% · Below median
Balance sheet
Debt / equity15.01× · 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). "Norstar Fair Value". https://www.fairvalue-calculator.com/stock/NSTR
Frequently asked questions
Is Norstar (NSTR) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 10.06 ILA versus a price of 7.41 ILA, about +36% upside (undervalued).
What is the fair value of NSTR?
Our model-based fair value for Norstar is 10.06 ILA (as of Sep 24, 2026), built from audited fundamentals. The current price: 7.41 ILA.
What is the quality score of NSTR?
Norstar has a Quality Score of 44/100. 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 Norstar (NSTR)?
Our model-based price target is the fair value of 10.06 ILA (as of Sep 24, 2026) from 9 valuation models. Cautious scenario 2.01 ILA, optimistic scenario 40.24 ILA. It is a calculation from audited fundamentals, not an analyst target.
What is the Norstar stock forecast for 2026?
Our models put fair value at 10.06 ILA, about +36% upside versus a price of 7.41 ILA (undervalued). Cautious scenario 2.01 ILA, optimistic scenario 40.24 ILA. The calculation is refreshed regularly with new filings.
What is the revenue of Norstar (NSTR)?
Norstar reported trailing-twelve-month revenue of about 2.6B ILS (latest available figure, as of Sep 24, 2026).
Does Norstar pay a dividend?
Norstar currently shows a dividend yield of about 1.68% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Norstar (NSTR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Norstar it is 10.06 ILA per share (as of Sep 24, 2026), against a price of 7.41 ILA. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Norstar stock overvalued or undervalued in 2026?
As of Sep 24, 2026, NSTR trades below its calculated fair value: price 7.41 ILA, fair value 10.06 ILA, a gap of about +36% (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 NSTR?
No. The price is what the market pays today (7.41 ILA); the fair value is what the company's own numbers justify (10.06 ILA). For Norstar the two are 2.65 ILA per share apart. That gap is exactly why we show both numbers side by side.
How much is Norstar worth?
The market values Norstar at about 536M ILA (market capitalisation, as of Sep 24, 2026). Per share that is 7.41 ILA; our models calculate a fair value of 10.06 ILA per share.
What do the bullish and bearish scenarios say about NSTR?
Our models span a range for Norstar: cautious scenario 2.01 ILA, base 10.06 ILA, optimistic 40.24 ILA per share (as of Sep 24, 2026, price 7.41 ILA). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NSTR?
Norstar trades at a price-to-earnings ratio of 4.6 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 10.06 ILA is built from several models across several years. Other multiples: P/B 0.1, P/S 0.1, EV/EBITDA 13.3.
How solid is the balance sheet of Norstar (NSTR)?
Balance-sheet figures for Norstar (as of Sep 24, 2026): return on equity 6.5%, debt of 15.01 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is NSTR from its 52-week high?
Norstar trades at 7.41 ILA, about 30% below its 52-week high of 10.63 ILA and 14% above the low of 6.53 ILA (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 10.06 ILA is for.
Which stocks are comparable to Norstar?
From the same area (Real Estate) we also value Vingroup Joint Stock Company, CBRE Group, Vonovia SE, Cellnex Telecom, S.A, 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 Norstar stock attractive at the current price?
The data as of Sep 24, 2026: price 7.41 ILA, calculated fair value 10.06 ILA (+36%), Quality Score 44/100, 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 NSTR calculated?
We run Norstar through 9 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 10.06 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 14.1 % above its aggregate fair value. Norstar currently trades 36 % 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 Norstar (NSTR)?
The closing price on Sep 23, 2026 was 7.41 ILA. Our model-based fair value is 10.06 ILA, about +36% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Norstar right now?
The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain. The model range is unusually wide (2.01 ILA to 40.24 ILA). The outcome hinges heavily on assumptions, so read the point estimate with caution. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Norstar
How large is the market capitalisation of Norstar (NSTR)?
The market capitalisation of Norstar is 536M 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 Norstar (NSTR)?
The price-to-sales ratio of Norstar is 0.21 (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 Norstar (NSTR)?
Earnings per share at Norstar are 1.62 ILA (price ÷ EPS = P/E 4.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Norstar (NSTR)?
The dividend yield of Norstar is 1.7% (payout 7.7%). 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 Norstar (NSTR)?
The net margin of Norstar is −1.0% (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 Norstar (NSTR)?
The return on equity (ROE) of Norstar is 6.5% (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 Norstar (NSTR)?
On an EBIT basis the return on assets of Norstar is 3.0% (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 Norstar (NSTR)?
The operating margin of Norstar is 51.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Norstar (NSTR)?
Revenue at Norstar is growing −1.6% versus a year earlier (3y avg −0.1%). 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 Norstar (NSTR)?
Earnings per share at Norstar are growing −15.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Norstar (NSTR) generate?
The free cash flow of Norstar is 577M ILA (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 Norstar (NSTR) carry?
The net debt of Norstar is 21.7B ILA (fiscal year 2025, ≈ 37.6 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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