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Nsi NVNSI.ASCompetitor analysis, valuation and peers

Netherlands · EUR·Real Estate›Real Estate Investment Trusts
Momentum strong 66
Mkt cap
$394M
US dollars, full cap
Free float
61%
of shares outstanding
$/day
$844,411
20-day average traded
P/B
0.54×
price to book
ROE
-2.5%
delivered
Implied ROE
4.5%
what the price asks
Next earnings
83 days
28 Jan 2027
Close · EUR€17.42
1D+0.6%
1W+1.8%
1M+7.8%
3M+3.4%
6M+1.4%
YTD-10.1%
1Y-14.8%
ATR %1.8%
52w lowhigh15.4% off high

What Nsi does

Employees: 68

Nsi at a glance

Size Nsi (NSI.AS) is a Netherlands Real Estate company (Real Estate Investment Trusts) with a market value of $394M, the 59th largest of 61 Netherlands companies the cockpit tracks. Shares closed at €17.42 on 6 Nov 2026.

Performance Over six months the shares gained 1.4%, against -15.6% for the median peer and +0.4% for the Netherlands market (cap-weighted) — 4th highest of 20 in its peer set.

Growth Revenue fell 3.8% over the last twelve months (peer median +2.1%); the operating margin is 57.9% (peer median 46.9%).

Valuation It trades at 0.54× book value against a peer median of 0.88× (3rd cheapest of 21).

Price implies The share price implies a return on equity of about 4.5%; Nsi delivers -2.5%, so the price asks more than the business earns today.

Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).

Relative performance

909510010511 May 202611 Aug 20266 Nov 2026NSI.AS 102Peer median 87
Six months, rebased to 100: Nsi against the median of its 20 peers (local-currency closes).

Nsi financials

Reported figures in EUR; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue€84.0M€87.5M€86.0M€84.7M€82.3M
Revenue growth—+2%+2%+3%—
Gross profit€56.1M€59.6M€60.5M€57.8M€58.6M
EBITDA€49.1M€53.0M€53.2M€47.1M€54.2M
Net income-€15.9M-€9.79M€12.4M-€142M-€31.4M
Free cash flow€35.2M€41.6M€39.7M€41.6M€42.7M
Capital expenditure€25,000€0€21,000€0€135,000
Total debtn/a€360M€344M€346M€367M

Quarterly statements and history in the cockpit →

Nsi competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-40%-20%0%+20%-10%0%+10%RWTPRV-UNILPT2972BSRT-UNINEA29793459COFXRNBRSPNXRTNXR-UNHABAPLZ-UNFPISELERCHCTM1GUNSI.AS6-month return →1-month return →
Up and to the right = strong over both horizons. Nsi is the large dot.

Fundamentals: return on equity against price-to-book

-10%0%10%0.50×10×1.50×RWTPRV-UNILPT2972BSRT-UNINEA29793459COFSEITINVITXRNBRSPNXRTNXR-UNHABAPLZ-UNFPISELERCHCTM1GUNSI.ASReturn on equity →Price / book →
A bank or insurer earning more on its equity usually trades at a higher multiple of book; points far above the trend are priced for more. Nsi is the large dot.

Capital: ROE delivered against the ROE the price implies

-10%0%10%20%0%20%RWTPRV-UNILPT2972BSRT-UNINEA29793459SEITINVITXRNNXRTPLZ-UNNSI.ASROE delivered →ROE the price implies →
Above the diagonal = the price asks for a higher return on equity than the business earns today. Nsi is the large dot.

Nsi competitors and peer comparison

How Nsi compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Nsi against its 20 peers (data as of 6 Nov 2026)
MeasureNSI.ASPeer medianRank in peer set
1-month return+7.8%-2.5%3rd highest of 21
6-month return+1.4%-15.6%4th highest of 20
Return on equity-2.5%4.2%5th lowest of 21
Price / book0.54×0.88×3rd cheapest of 21
ROE the price implies4.5%7.3%4th least demanding of 21
ROE delivered-2.5%3.7%5th lowest of 20

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthROEPrice / bookImplied ROEDelivered ROE
Nsi NSI.ASNetherlands$394M+1%-4%-2%0.54×4.5%-2.5%
Redwood Trust RWTUnited States$392M-44%-9%-4%0.44×7.2%-4.0%
PRO Real Estate Investment Trust PRV-UN.TOCanada$397M+6%+8%7%0.96×9.1%7.2%
Industrial Logistics Properties Trust ILPTUnited States$397M-27%+4%-12%0.94×16.7%-12.2%
SANKEI REAL ESTATE 2972.TJapan$383M+4%-15%-5%1.28×5.0%-4.7%
BSR Real Estate Investment Trust BSRT-UN.TOCanada$405M-10%-17%3%0.68×6.8%3.2%
Fonciere INEA INEA.PAFrance$382M-11%-1%1%0.68×5.3%0.5%
SOSiLA Logistics REIT,Inc 2979.TJapan$407M-28%0%5%0.82×4.3%4.7%
Samty Residential Investment 3459.TJapan$411M-27%+13%6%0.77×4.0%6.1%
Centuria Office REIT COF.AXAustralia$375M-3%-1%6%0.55×7.4%5.6%
Sustainable Energy Infra Trust SEITINVIT.NSIndia$415Mn/a+6%4%1.44×26.6%3.7%
Chiron Real Estate XRNUnited States$416M-16%+4%10%0.87×9.5%10.0%
BrightSpire Capital BRSPUnited States$416M-44%+2%2%0.47×7.2%2.1%
NexPoint Residential Trust NXRTUnited States$417M-46%+1%-14%1.85×17.3%-13.6%
Nexus Industrial REIT NXR-UN.TOCanada$418M-1%+2%5%0.71×9.0%4.9%
Hamborner REIT HABA.DEGermany$370M-19%-4%-2%0.97×6.3%-2.2%
Plaza Retail REIT PLZ-UN.TOCanada$419M+19%+3%11%1.01×7.7%11.1%
Farmland Partners FPIUnited States$369M-17%-6%2%0.87×8.1%2.2%
Selectirente SELER.PAFrance$367M-7%+2%5%0.88×6.0%5.0%
Community Healthcare Trust CHCTUnited States$423M-16%+6%5%1.02×8.2%4.7%
Alpha Integrated Real Estate Investment Trust M1GU.SISingapore$423M-1%+6%11%0.91×3.9%n/a

Questions

Which companies are Nsi's closest peers?
The cockpit's peer set: Redwood Trust (RWT), PRO Real Estate Investment Trust (PRV-UN.TO), Industrial Logistics Properties Trust (ILPT), SANKEI REAL ESTATE (2972.T), BSR Real Estate Investment Trust (BSRT-UN.TO), Fonciere INEA (INEA.PA), SOSiLA Logistics REIT,Inc (2979.T), Samty Residential Investment (3459.T).
Is Nsi expensive compared with its peers?
On price / book it trades at 0.54× against a peer median of 0.88×, 3rd cheapest of 21 in its peer set. The share price implies a return on equity of about 4.5%; Nsi delivers -2.5%, so the price asks more than the business earns today.
How has Nsi stock performed?
Over six months to 6 Nov 2026 the shares returned +1.4% against -15.6% for the median peer; over one year -14.8%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.