Vastned Retail N.V (VASTB) Fair Value & Analysis
Real Estate · BE · Market cap €485M
Fair value as of: Aug 6, 2026
From 16 valuation models · updated 4 days ago
Share price +1.9% over the past month.
Below-average quality, and screening another 19% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (€28.22). The favourable scenario is already priced in.
- Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 6, 2026.
How to read this chart
60‑month range €20.56 – €30.93 · fair‑value band €18.09 – €28.22 · the €29.90 price screens above the €24.12 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 6, 2026.
Analysis
Vastned Retail N.V (VASTB) currently trades at €29.90, while our model-based Fair Value estimate is €24.12, implying the stock looks roughly 19.3% overvalued today. The Quality Score stands at 47/100 (below-average quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Vastned Retail N.V generated revenue of €67.7M at a net margin of 72.5%. Revenue declined 11.3% year over year. It earns a return on equity of 10.4%. Net debt stands at €492M. Fundamentals as of Aug 6, 2026
Our scenario range runs from €18.09 (bear case) to €28.22 (bull case); at €29.90, the current price sits above 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. The share trades about 4% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -53% fair-value upside, at -19%, VASTB 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.
All 16 models by family
Widest divergence: Economic Profit (€34.12) versus Dividend Discount (€1.39). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 6, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 50 · Market factors (momentum, volatility) 64
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
Vastned Retail N.V. is a European publicly listed property company focusing on the best property in the popular shopping areas of selected European cities with a historic city centre where shopping, living, working and leisure meet.
Full company description
Vastned Retail N.V. is a European publicly listed property company focusing on the best property in the popular shopping areas of selected European cities with a historic city centre where shopping, living, working and leisure meet. Vastned property clusters have a strong tenant mix of international and national retailers, food & beverage entrepreneurs, residential tenants, and office tenants. The property portfolio had a size of approximately 1,236 million Euro as at 30 June 2024. Vastned Retail N.V. was incorporated in 1986 in Belgium.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Vastned Retail N.V reported revenue of €70.5M in FY2025 versus €18.0M in FY2021, a compound +40.6%/yr. Reported net income was €49.1M in FY2025, compounding +86.1%/yr from FY2021.
VASTB screens 19% overvalued. Compare with Simon Property Group →
Peer Group
REIT - Retail · 107 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.
Valuation Multiples vs REIT - Retail median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more REIT - Retail stocks, each showing price versus our Fair Value estimate (as of Aug 6, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Simon Property Group SPG | $229.78 | $86.11 | -63% |
| Realty Income Corporation O | $65.60 | $30.71 | -53% |
| Unibail-Rodamco-Westfield SE URW | €103.65 | €101.67 | -2% |
| Kimco Realty Corporation KIM | $26.10 | $12.60 | -52% |
| CapitaLand Integrated Commercial Trust (CICT or the Trust) C38U | 2.47 SGD | 0.9100 SGD | -63% |
| Scentre Group SCG | A$3.93 | A$3.34 | -15% |
| Regency Centers Corporation REG | $82.15 | $33.69 | -59% |
| Link Real Estate Investment Trust (Link REIT) 0823 | HK$39.22 | HK$41.98 | +7% |
| Federal Realty Investment Trust FRT | $126.08 | $41.96 | -67% |
| Brixmor Property Group BRX | $32.44 | $13.18 | -59% |
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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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