Numulae Gestion de Servicios SOCIMI SA (YNUM) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Numulae Gestion de Servicios SOCIMI SA €0.96, price €2.36, upside -59.3%, quality 47 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 €1.73 – €2.36 · fair‑value band €0.2300 – €2.60 · the €2.36 price screens above the €0.9600 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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Numulae Gestión de Servicios SOCIMI, S.A. operates as a real estate investment company in Spain. The company operates Parque Astur and El Arcángel shopping centers in Avilés and Córdoba; and Torrijos market in madrid. Numulae Gestión de Servicios SOCIMI, S.A. was incorporated in 2009 and is based in Madrid, Spain. Numulae Gestión de Servicios SOCIMI, S.A.
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Numulae Gestión de Servicios SOCIMI, S.A. operates as a real estate investment company in Spain. The company operates Parque Astur and El Arcángel shopping centers in Avilés and Córdoba; and Torrijos market in madrid. Numulae Gestión de Servicios SOCIMI, S.A. was incorporated in 2009 and is based in Madrid, Spain. Numulae Gestión de Servicios SOCIMI, S.A. is a subsidiary of La Fe Previsora Compañia de Seguros, S.A.
Stock analysis
Numulae Gestion de Servicios SOCIMI SA (YNUM) currently trades at €2.36, while our model-based Fair Value estimate is €0.9600, implying the stock looks roughly 145.8% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of €1.09 per share, and 0 of the 9 models we run sit above the €2.36 price.
Bear case: the Dividend Discount group reads lowest at €0.2600, and 9 of the 9 models stay below the price. Evidence for this calculation is medium.
Scenario range: €0.2300 (bear) to €2.60 (bull), the price of €2.36 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 47/100 (below-average quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Numulae Gestion de Servicios SOCIMI SA reported revenue of €6.2M in FY2023 versus €2.1M in FY2019, a compound +30.9%/yr. Reported net income was −€362K in FY2023.
Key figures
Market cap €34.9M · P/S ratio 5.60 · EPS (TTM) €−0.0200 · Dividend yield 0.7% · Net margin −5.8% · Return on equity −2.0% · Return on assets (EBIT) 0.2% · Operating margin 2.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 19% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 1% fair-value upside, at −59%, YNUM screens richer than that median.
Fair Value models
Bear €0.2300Fair Value €0.9600Bull €2.60
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.54/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+13.6%
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.
+17.2%
’19
’20
’21
’22
’23
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.
25.7% (2019) → 7.5% (2023)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2023 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+46.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +43.5% a year for the price.
Compare Numulae Gestion de Servicios SOCIMI SA with another stock
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 · 155 stocks
Beats the industry median on 0/12 measures
Overall it trails its industry peers.
Valuation
Quality Score48 · Below median
Fair Value upside−59% · Bottom 25%
Profitability
Return on assets1% · Bottom 25%
Net margin (TTM)−5% · Bottom 25%
Operating margin (TTM)2% · Bottom 25%
Growth and dividend
Revenue growth−1% · Below median
Dividend yield (TTM)0.7% · Bottom 25%
Balance sheet
Debt / equity1.10× · Highest 25%
Valuation Multiplesvs REIT - Diversified median · lower = cheaper
P/B2.61× · Priciest 25%
P/S (TTM)6.38× · Pricier than median
P/FCF108.0× · Priciest 25%
EV/EBITDA30.5× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 26
FUTURE (revenue growth)0· sector 16
PAST (return on equity)0· sector 19
HEALTH (low debt)45· sector 76
DIVIDEND (yield)15· sector 100
VALUE 0: the price sits above our fair-value range.
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). "Numulae Gestion de Servicios SOCIMI SA Fair Value". https://www.fairvalue-calculator.com/stock/YNUM
Frequently asked questions
Is Numulae Gestion de Servicios SOCIMI SA (YNUM) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €0.9600 versus a price of €2.36, about −59% upside (overvalued).
What is the fair value of YNUM?
Our model-based fair value for Numulae Gestion de Servicios SOCIMI SA is €0.9600 (as of Sep 23, 2026), built from audited fundamentals. The current price: €2.36.
What is the quality score of YNUM?
Numulae Gestion de Servicios SOCIMI SA has a Quality Score of 47/100. 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 Numulae Gestion de Servicios SOCIMI SA (YNUM)?
Our model-based price target is the fair value of €0.9600 (as of Sep 23, 2026) from 11 valuation models. Cautious scenario €0.2300, optimistic scenario €2.60. It is a calculation from audited fundamentals, not an analyst target.
What is the Numulae Gestion de Servicios SOCIMI SA stock forecast for 2026?
Our models put fair value at €0.9600, about −59% upside versus a price of €2.36 (overvalued). Cautious scenario €0.2300, optimistic scenario €2.60. The calculation is refreshed regularly with new filings.
What is the revenue of Numulae Gestion de Servicios SOCIMI SA (YNUM)?
Numulae Gestion de Servicios SOCIMI SA reported trailing-twelve-month revenue of about €6.2M (latest available figure, as of Sep 23, 2026).
Does Numulae Gestion de Servicios SOCIMI SA pay a dividend?
Numulae Gestion de Servicios SOCIMI SA currently shows a dividend yield of about 0.73% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Numulae Gestion de Servicios SOCIMI SA (YNUM)?
For today's price to be fair in a discounted-cash-flow model, Numulae Gestion de Servicios SOCIMI SA would have to grow free cash flow by +46.6 % per year for five years (discount rate 9.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +30.9 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of YNUM use?
Our models discount Numulae Gestion de Servicios SOCIMI SA at 9.7 %: a base by market capitalisation (nano), damped by beta 0.01, country premium for Spain. 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 Numulae Gestion de Servicios SOCIMI SA that is +46.6 % per year a year over ten years, using the same discount rate (9.7 %) and the same formula as our fair value.
How much growth has Numulae Gestion de Servicios SOCIMI SA (YNUM) delivered so far?
Over the past 4 years revenue at Numulae Gestion de Servicios SOCIMI SA grew +30.9 % a year. The price currently implies +46.6 % 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 Numulae Gestion de Servicios SOCIMI SA (YNUM) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Numulae Gestion de Servicios SOCIMI SA (+46.6 % 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 Numulae Gestion de Servicios SOCIMI SA (YNUM)?
The free-cash-flow yield on the price is 1.21 %: that much free cash flow Numulae Gestion de Servicios SOCIMI SA produces per unit of market value. When it exceeds the discount rate of our models (9.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Numulae Gestion de Servicios SOCIMI SA (YNUM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Numulae Gestion de Servicios SOCIMI SA it is €0.9600 per share (as of Sep 23, 2026), against a price of €2.36. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is Numulae Gestion de Servicios SOCIMI SA stock overvalued or undervalued in 2026?
As of Sep 23, 2026, YNUM trades above its calculated fair value: price €2.36, fair value €0.9600, a gap of about −59% (overvalued). 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 YNUM?
No. The price is what the market pays today (€2.36); the fair value is what the company's own numbers justify (€0.9600). For Numulae Gestion de Servicios SOCIMI SA the two are €1.40 per share apart. That gap is exactly why we show both numbers side by side.
How much is Numulae Gestion de Servicios SOCIMI SA worth?
The market values Numulae Gestion de Servicios SOCIMI SA at about €34.9M (market capitalisation, as of Sep 23, 2026). Per share that is €2.36; our models calculate a fair value of €0.9600 per share.
What do the bullish and bearish scenarios say about YNUM?
Our models span a range for Numulae Gestion de Servicios SOCIMI SA: cautious scenario €0.2300, base €0.9600, optimistic €2.60 per share (as of Sep 23, 2026, price €2.36). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Numulae Gestion de Servicios SOCIMI SA (YNUM)?
Balance-sheet figures for Numulae Gestion de Servicios SOCIMI SA (as of Sep 23, 2026): return on equity −2.0%, debt of 1.10 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is YNUM from its 52-week high?
Numulae Gestion de Servicios SOCIMI SA trades at €2.36, at its 52-week high of €2.36 and 19% above the low of €1.99 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €0.9600 is for.
Which stocks are comparable to Numulae Gestion de Servicios SOCIMI SA?
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 Numulae Gestion de Servicios SOCIMI SA stock attractive at the current price?
The data as of Sep 23, 2026: price €2.36, calculated fair value €0.9600 (−59%), Quality Score 47/100, from 11 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 YNUM calculated?
We run Numulae Gestion de Servicios SOCIMI SA through 11 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 €0.9600, 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. Numulae Gestion de Servicios SOCIMI SA itself currently trades above fair value. 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 Numulae Gestion de Servicios SOCIMI SA (YNUM)?
The closing price on Sep 24, 2026 was €2.36. Our model-based fair value is €0.9600, about −59% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Numulae Gestion de Servicios SOCIMI SA right now?
The model range is unusually wide (€0.2300 to €2.60). The outcome hinges heavily on assumptions, so read the point estimate with caution. 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.
Key figures of Numulae Gestion de Servicios SOCIMI SA
How large is the market capitalisation of Numulae Gestion de Servicios SOCIMI SA (YNUM)?
The market capitalisation of Numulae Gestion de Servicios SOCIMI SA is €34.9M. 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 Numulae Gestion de Servicios SOCIMI SA (YNUM)?
The price-to-sales ratio of Numulae Gestion de Servicios SOCIMI SA is 5.60 (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 Numulae Gestion de Servicios SOCIMI SA (YNUM)?
Earnings per share at Numulae Gestion de Servicios SOCIMI SA are €−0.0200. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Numulae Gestion de Servicios SOCIMI SA (YNUM)?
The dividend yield of Numulae Gestion de Servicios SOCIMI SA is 0.7%. 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 Numulae Gestion de Servicios SOCIMI SA (YNUM)?
The net margin of Numulae Gestion de Servicios SOCIMI SA is −5.8% (fiscal year 2023). 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 Numulae Gestion de Servicios SOCIMI SA (YNUM)?
The return on equity (ROE) of Numulae Gestion de Servicios SOCIMI SA is −2.0% (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 Numulae Gestion de Servicios SOCIMI SA (YNUM)?
On an EBIT basis the return on assets of Numulae Gestion de Servicios SOCIMI SA is 0.2% (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 Numulae Gestion de Servicios SOCIMI SA (YNUM)?
The operating margin of Numulae Gestion de Servicios SOCIMI SA is 2.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Numulae Gestion de Servicios SOCIMI SA (YNUM)?
Revenue at Numulae Gestion de Servicios SOCIMI SA is growing −0.6% versus a year earlier (3y avg +17.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does Numulae Gestion de Servicios SOCIMI SA (YNUM) carry?
The net debt of Numulae Gestion de Servicios SOCIMI SA is €17.7M (fiscal year 2023, ≈ 48.2 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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