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Noratis AG (NUVA) Fair Value & Analysis

Real Estate · DE · Market cap €2.5M

NA Noratis AG NUVA · XETRA
Price€0.0655
Fair Value€0.1615
Upside+146.6%
Quality37/100
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Weak Growth
Loss-making · -30.4% net margin
High debt · generates free cash flow
Mixed vs. peers (6/12)
Narrow moat 22/100
Evidence: Medium Range €0.0899 – €0.3592 Share as image

Fair value as of: Jul 18, 2026

From 10 valuation models · updated 23 days ago

Share price −35.1% over the past month.

Below-average quality, screening 147% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (37/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (€0.0899). The market is more pessimistic than our downside scenario.
  • The model range is unusually wide (€0.0899 to €0.3592). 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.
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Price vs Fair Value (5 years)

€18.67 €0.0505 Fair Value €0.1615 Oct 2020 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range €0.0505 – €18.67 · fair‑value band €0.0899 – €0.3592 · the €0.0655 price screens below the €0.1615 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Noratis AG (NUVA) currently trades at €0.0655, while our model-based Fair Value estimate is €0.1615, implying the stock looks roughly 146.6% undervalued today. The Quality Score stands at 37/100 (below-average quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Noratis AG generated revenue of €68.3M at a net margin of -30.4%. Revenue grew 8.2% year over year. It earns a return on equity of -34.8%. Net debt stands at €344M. Fundamentals as of Jul 18, 2026

Our scenario range runs from €0.0899 (bear case) to €0.3592 (bull case); at €0.0655, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at 147%, NUVA screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

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
Highest evidence
Growth DCF €0.3300 €5.08 €11.55 80
Rev-Margin DCF €0.1600 €6.11 €13.68 74
Gordon GGM €0.0100 €0.0100 70
All 10 models by family
DCF Models
FCF DCF €0.5400 €6.14 €14.41 38
5Y Revenue Exit €0.1600 €6.24 €14.49 39
10Y Revenue Exit €5.27 €13.41 36
10Y EBITDA Exit €2.65 37
Dividend Discount
Gordon GGM €0.0100 €0.0100 70
DDM Multi-Stage €0.0100 €0.0100 61
Multiples
EV/Revenue €0.1400 €3.75 €7.35 43
Asset-Based
NCAV (Graham) €0.8000 €1.07 €1.59 50
Growth DCF
Growth DCF €0.3300 €5.08 €11.55 80
Rev-Margin DCF €0.1600 €6.11 €13.68 74

Widest divergence: DCF Models (€6.14) versus Dividend Discount (€0.0100). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €68.3M
Revenue growth (YoY) +8.2%
Net margin -30.4%
Return on equity -34.8%
Free cash flow €34.7M FY2024
Operating margin 10.3%
More key figures
EPS (TTM) €-2.00
EPS growth (YoY) -86.7%
Net debt €344M FY2024

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 37/100

Of which business quality 38 · Market factors (momentum, volatility) 15

Profitability 1
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 5
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Noratis AG, a real estate company, invests in, develops, manages, and sells residential property portfolios in Germany. It primarily focuses on a portfolio of apartments and residential areas. The company also invests in retail store properties. Noratis AG was founded in 2002 and is based in Eschborn, Germany.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

Noratis AG reported revenue of €67.3M in FY2024 versus €28.7M in FY2020, a compound +23.7%/yr. Reported net income was −€28.1M in FY2024.

Growth Quality 21/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2024)
€67.3M
Latest YoY
+10.7%
Avg. growth/yr (3Y) 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.
−3.1%
Avg. growth/yr (5Y) 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.
−2.4%
Avg. growth/yr (10Y) 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.
+14.9%
Revenue +23.7%/yr
FY20 €28.7M
FY21 €74.0M
FY22 €86.0M
FY23 €60.7M
FY24 €67.3M
Net income
FY20 €2.8M
FY21 €9.5M
FY22 €8.2M
FY23 −€10.9M
FY24 −€28.1M

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Cite: Fair Value Calculator (2026). "Noratis AG Fair Value". https://www.fairvalue-calculator.com/stock/NUVA

Peer Group

Real Estate - Development · 588 stocks

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.

Quality Score 37 · Bottom 25%
Fair Value upside +147% · Top 25%
Return on assets 1% · Below median
Net margin (TTM) -30% · Bottom 25%
Operating margin (TTM) 10% · Above median
Revenue growth 8% · Above median
Debt / equity 5.32× · Higher than 75% of peers

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/B 0.05× · Cheaper than 75% of peers
P/S (TTM) 0.04× · Cheaper than 75% of peers
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 60.0× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 48
FUTURE 41 · sector 0
PAST 0 · sector 10
HEALTH 0 · sector 84
DIVIDEND 0 · sector 38

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is Noratis AG (NUVA) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of €0.1615 versus a price of €0.0655, about +147% (undervalued).
What is the fair value of NUVA?
Our model-based fair value for Noratis AG is €0.1615 (as of Jul 18, 2026), built from audited fundamentals. The current price is €0.0655.
What is the quality score of NUVA?
Noratis AG has a Quality Score of 37/100. 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 revenue of Noratis AG (NUVA)?
Noratis AG reported trailing-twelve-month revenue of about €68.3M (latest available figure, as of Jul 18, 2026).
What is the net profit margin of NUVA?
The net profit margin of Noratis AG is about -30.4%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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