NSI NV (NSI.AS) Stock Fundamental Analysis
AMS:NSI - Euronext Amsterdam - NL0012365084 - REIT - Currency: EUR
NSI gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 40 industry peers in the Diversified REITs industry. There are concerns on the financial health of NSI while its profitability can be described as average. While showing a medium growth rate, NSI is valued expensive at the moment.
1. Profitability
1.1 Basic Checks
NSI had positive earnings in the past year.
NSI had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: NSI reported negative net income in multiple years.
In the past 5 years NSI always reported a positive cash flow from operatings.
1.2 Ratios
NSI has a Return On Assets of 1.18%. This is in the lower half of the industry: NSI underperforms 65.00% of its industry peers.
With a Return On Equity value of 1.84%, NSI is not doing good in the industry: 65.00% of the companies in the same industry are doing better.
Looking at the Return On Invested Capital, with a value of 4.14%, NSI is in the better half of the industry, outperforming 72.50% of the companies in the same industry.
NSI had an Average Return On Invested Capital over the past 3 years of 3.76%. This is in line with the industry average of 3.63%.
The last Return On Invested Capital (4.14%) for NSI is above the 3 year average (3.76%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.18% | ||
| ROE | 1.84% | ||
| ROIC | 4.14% |
ROA(3y)-4.79%
ROA(5y)-1.43%
ROE(3y)-7.25%
ROE(5y)-2.28%
ROIC(3y)3.76%
ROIC(5y)3.61%
1.3 Margins
NSI has a Profit Margin of 17.01%. This is comparable to the rest of the industry: NSI outperforms 42.50% of its industry peers.
NSI's Profit Margin has declined in the last couple of years.
NSI has a Operating Margin of 72.34%. This is comparable to the rest of the industry: NSI outperforms 55.00% of its industry peers.
In the last couple of years the Operating Margin of NSI has remained more or less at the same level.
NSI has a better Gross Margin (83.98%) than 65.00% of its industry peers.
In the last couple of years the Gross Margin of NSI has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 72.34% | ||
| PM (TTM) | 17.01% | ||
| GM | 83.98% |
OM growth 3Y0.35%
OM growth 5Y0.7%
PM growth 3Y-52.23%
PM growth 5Y-40.95%
GM growth 3Y0.95%
GM growth 5Y0.68%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), NSI is destroying value.
The number of shares outstanding for NSI has been reduced compared to 1 year ago.
Compared to 5 years ago, NSI has more shares outstanding
The debt/assets ratio for NSI is higher compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 0.56, we must say that NSI is in the distress zone and has some risk of bankruptcy.
With a Altman-Z score value of 0.56, NSI is not doing good in the industry: 75.00% of the companies in the same industry are doing better.
NSI has a debt to FCF ratio of 8.75. This is a slightly negative value and a sign of low solvency as NSI would need 8.75 years to pay back of all of its debts.
With an excellent Debt to FCF ratio value of 8.75, NSI belongs to the best of the industry, outperforming 82.50% of the companies in the same industry.
NSI has a Debt/Equity ratio of 0.51. This is a neutral value indicating NSI is somewhat dependend on debt financing.
With an excellent Debt to Equity ratio value of 0.51, NSI belongs to the best of the industry, outperforming 85.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.51 | ||
| Debt/FCF | 8.75 | ||
| Altman-Z | 0.56 |
ROIC/WACC0.75
WACC5.54%
2.3 Liquidity
NSI has a Current Ratio of 0.23. This is a bad value and indicates that NSI is not financially healthy enough and could expect problems in meeting its short term obligations.
NSI has a worse Current ratio (0.23) than 75.00% of its industry peers.
A Quick Ratio of 0.23 indicates that NSI may have some problems paying its short term obligations.
NSI's Quick ratio of 0.23 is on the low side compared to the rest of the industry. NSI is outperformed by 72.50% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.23 | ||
| Quick Ratio | 0.23 |
3. Growth
3.1 Past
NSI shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 109.01%, which is quite impressive.
The earnings per share for NSI have been decreasing by -42.97% on average. This is quite bad
Looking at the last year, NSI shows a small growth in Revenue. The Revenue has grown by 2.15% in the last year.
The Revenue has been decreasing by -2.57% on average over the past years.
EPS 1Y (TTM)109.01%
EPS 3Y-53.3%
EPS 5Y-42.97%
EPS Q2Q%121.92%
Revenue 1Y (TTM)2.15%
Revenue growth 3Y-2.1%
Revenue growth 5Y-2.57%
Sales Q2Q%2.51%
3.2 Future
The Earnings Per Share is expected to grow by 2.47% on average over the next years.
NSI is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.07% yearly.
EPS Next Y1.87%
EPS Next 2Y1.39%
EPS Next 3Y2.39%
EPS Next 5Y2.47%
Revenue Next Year-1.06%
Revenue Next 2Y1.3%
Revenue Next 3Y2.07%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 37.50, which means the current valuation is very expensive for NSI.
NSI's Price/Earnings ratio is a bit more expensive when compared to the industry. NSI is more expensive than 70.00% of the companies in the same industry.
NSI's Price/Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 27.30.
A Price/Forward Earnings ratio of 11.88 indicates a reasonable valuation of NSI.
NSI's Price/Forward Earnings ratio is in line with the industry average.
NSI is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 21.76, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 37.5 | ||
| Fwd PE | 11.88 |
4.2 Price Multiples
NSI's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. NSI is cheaper than 67.50% of the companies in the same industry.
The rest of the industry has a similar Price/Free Cash Flow ratio as NSI.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 12.21 | ||
| EV/EBITDA | 15.15 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)20.08
PEG (5Y)N/A
EPS Next 2Y1.39%
EPS Next 3Y2.39%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 6.53%, NSI is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 5.56, NSI pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.35, NSI pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.53% |
5.2 History
The dividend of NSI has a limited annual growth rate of 1.68%.
Dividend Growth(5Y)1.68%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
241.76% of the earnings are spent on dividend by NSI. This is not a sustainable payout ratio.
The dividend of NSI is growing, but earnings are growing more, so the dividend growth is sustainable.
DP241.76%
EPS Next 2Y1.39%
EPS Next 3Y2.39%
AMS:NSI (7/11/2025, 7:00:00 PM)
24
-0.05 (-0.21%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners29.77%
Inst Owner ChangeN/A
Ins Owners0.15%
Ins Owner ChangeN/A
Market Cap483.84M
Analysts78
Price Target23.8 (-0.83%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.53% |
Yearly Dividend1.52
Dividend Growth(5Y)1.68%
DP241.76%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)-0.36%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.46%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 37.5 | ||
| Fwd PE | 11.88 | ||
| P/S | 6.65 | ||
| P/FCF | 12.21 | ||
| P/OCF | 12.2 | ||
| P/B | 0.72 | ||
| P/tB | 0.72 | ||
| EV/EBITDA | 15.15 |
EPS(TTM)0.64
EY2.67%
EPS(NY)2.02
Fwd EY8.42%
FCF(TTM)1.97
FCFY8.19%
OCF(TTM)1.97
OCFY8.2%
SpS3.61
BVpS33.35
TBVpS33.35
PEG (NY)20.08
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.18% | ||
| ROE | 1.84% | ||
| ROCE | 5.24% | ||
| ROIC | 4.14% | ||
| ROICexc | 4.18% | ||
| ROICexgc | 4.18% | ||
| OM | 72.34% | ||
| PM (TTM) | 17.01% | ||
| GM | 83.98% | ||
| FCFM | 54.5% |
ROA(3y)-4.79%
ROA(5y)-1.43%
ROE(3y)-7.25%
ROE(5y)-2.28%
ROIC(3y)3.76%
ROIC(5y)3.61%
ROICexc(3y)3.77%
ROICexc(5y)3.63%
ROICexgc(3y)3.77%
ROICexgc(5y)3.63%
ROCE(3y)4.74%
ROCE(5y)4.53%
ROICexcg growth 3Y7.51%
ROICexcg growth 5Y2.13%
ROICexc growth 3Y7.51%
ROICexc growth 5Y2.13%
OM growth 3Y0.35%
OM growth 5Y0.7%
PM growth 3Y-52.23%
PM growth 5Y-40.95%
GM growth 3Y0.95%
GM growth 5Y0.68%
F-Score8
Asset Turnover0.07
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.51 | ||
| Debt/FCF | 8.75 | ||
| Debt/EBITDA | 6.41 | ||
| Cap/Depr | 3.49% | ||
| Cap/Sales | 0.03% | ||
| Interest Coverage | 4.2 | ||
| Cash Conversion | 74.53% | ||
| Profit Quality | 320.39% | ||
| Current Ratio | 0.23 | ||
| Quick Ratio | 0.23 | ||
| Altman-Z | 0.56 |
F-Score8
WACC5.54%
ROIC/WACC0.75
Cap/Depr(3y)7.25%
Cap/Depr(5y)40.19%
Cap/Sales(3y)0.07%
Cap/Sales(5y)0.27%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)109.01%
EPS 3Y-53.3%
EPS 5Y-42.97%
EPS Q2Q%121.92%
EPS Next Y1.87%
EPS Next 2Y1.39%
EPS Next 3Y2.39%
EPS Next 5Y2.47%
Revenue 1Y (TTM)2.15%
Revenue growth 3Y-2.1%
Revenue growth 5Y-2.57%
Sales Q2Q%2.51%
Revenue Next Year-1.06%
Revenue Next 2Y1.3%
Revenue Next 3Y2.07%
Revenue Next 5YN/A
EBIT growth 1Y6.9%
EBIT growth 3Y-1.76%
EBIT growth 5Y-1.89%
EBIT Next Year20%
EBIT Next 3Y10.66%
EBIT Next 5YN/A
FCF growth 1Y-4.82%
FCF growth 3Y3.11%
FCF growth 5Y0.25%
OCF growth 1Y-4.77%
OCF growth 3Y2.4%
OCF growth 5Y0.22%