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NSI NV
(NSI)
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Rating:59Neutral
Price Target:
€17.50
▲(3.18% Upside)
Action:Reiterated
Date:08/04/26
The score is primarily driven by moderate financial strength supported by steady operating cash flow and manageable leverage, offset by volatile bottom-line results and a 2025 deterioration where profitability turned negative and free cash flow fell to zero. Technicals are neutral with limited momentum, while valuation is helped by the high dividend yield but tempered by a negative P/E tied to losses.
Positive Factors
Manageable Leverage
Moderate leverage provides NSI with a more manageable capital structure than a highly indebted property owner, preserving flexibility to fund maintenance, leasing initiatives and selective redevelopment while limiting financing sensitivity.
Negative Factors
Free Cash Flow Deterioration
The sharp decline in free cash flow weakens the internal funding available for dividends, debt reduction and property investment. If sustained, it could increase reliance on asset sales or external financing to maintain the portfolio.
Read all positive and negative factors
Positive Factors
Negative Factors
Manageable Leverage
Moderate leverage provides NSI with a more manageable capital structure than a highly indebted property owner, preserving flexibility to fund maintenance, leasing initiatives and selective redevelopment while limiting financing sensitivity.
Read all positive factors
NSI NV (NSI) vs. iShares MSCI Netherlands ETF (EWN)
Market Cap
€341.03M
Dividend Yield13.92%
Average Volume (3M)49.56K
Price to Earnings (P/E)―
Beta (1Y)0.69
Revenue Growth-3.75%
EPS Growth-1040.34%
CountryNL
Employees63
SectorGeneral
Sector StrengthN/A
IndustryREIT - Office
Share Statistics
EPS (TTM)-0.84
Shares Outstanding20,155,222
10 Day Avg. Volume44,030
30 Day Avg. Volume49,559
Financial Highlights & Ratios
PEG Ratio0.21
Price to Book (P/B)0.59
Price to Sales (P/S)4.29
P/FCF Ratio9.02
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€18.45Price Target Upside8.79% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)1.9
Revenue Forecast (FY)€68.13M
NSI NV Business Overview & Revenue Model
Company Description
NSI N.V. are Amsterdam real estate specialists bringing together local market knowledge, experience and capital. Our commitment is to help shape the future of how we work and live by understanding the local market and putting the needs of our cust...
How the Company Makes Money
NSI primarily makes money from (1) rental income generated by leasing office space and other commercial areas in its property portfolio to tenants under lease contracts. This rental income typically includes base rent and may include recoveries/se...
NSI NV Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
66
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 83.97M | 87.53M | 86.02M | 84.67M | 82.33M | 90.17M |
| Gross Profit | 55.63M | 59.03M | 59.90M | 57.16M | 57.82M | 62.34M |
| EBITDA | -9.72M | -2.46M | 26.86M | -171.45M | -22.33M | 130.77M |
| Net Income | -15.89M | -9.79M | 12.37M | -142.37M | -31.37M | 120.96M |
Balance Sheet | ||||||
| Total Assets | 1.02B | 1.04B | 1.05B | 1.09B | 1.28B | 1.37B |
| Cash, Cash Equivalents and Short-Term Investments | 28.32M | 30.10M | 8.45M | 202.00K | 196.00K | 7.73M |
| Total Debt | 350.57M | 360.27M | 348.69M | 345.96M | 367.03M | 391.41M |
| Total Liabilities | 403.79M | 397.15M | 379.06M | 377.74M | 392.78M | 419.77M |
| Stockholders Equity | 611.22M | 640.73M | 672.34M | 709.88M | 887.01M | 948.46M |
Cash Flow | ||||||
| Free Cash Flow | 35.16M | 41.61M | 39.64M | 41.65M | 42.66M | 36.16M |
| Operating Cash Flow | 35.19M | 41.61M | 39.66M | 41.65M | 42.80M | 36.94M |
| Investing Cash Flow | 16.33M | -9.29M | 17.38M | 14.58M | 4.25M | -25.59M |
| Financing Cash Flow | -56.34M | -28.26M | -54.91M | -53.20M | -68.62M | -3.39M |
NSI NV Technical Analysis
Positive
16.96
Price Trends
16.69
Positive
16.58
Positive
16.89
Positive
Market Momentum
0.05
Positive
56.19
Neutral
56.32
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:NSI, the sentiment is Positive. The current price of 16.96 is above the 20-day moving average (MA) of 16.82, above the 50-day MA of 16.69, and above the 200-day MA of 16.89, indicating a bullish trend. The MACD of 0.05 indicates Positive momentum. The RSI at 56.19 is Neutral, neither overbought nor oversold. The STOCH value of 56.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NL:NSI.
NSI NV Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | €6.97B | 13.42 | ― | 4.85% | 12.95% | -53.58% | |
69 Neutral | €1.52B | 9.40 | ― | 6.73% | 4.05% | 21.63% | |
68 Neutral | €3.11B | 12.28 | 24.42% | 2.61% | 7.01% | 87.12% | |
61 Neutral | €877.04M | 12.94 | 6.23% | 7.07% | 10.18% | -26.93% | |
59 Neutral | €341.03M | -20.14 | -2.54% | 13.92% | -3.75% | -1040.34% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | €13.60M | -15.66 | -4.06% | 7.52% | -44.85% | ― |
* General Sector Average
NL:NSI
NSI NV
16.74
-2.77
-14.21%
NL:BAMNB
Koninklijke Bam Groep NV
11.51
3.92
51.63%
NL:ECT
Eurocastle Investment
13.50
3.85
39.90%
NL:ECMPA
Eurocommercial Properties NV
27.20
2.44
9.87%
NL:WHA
Wereldhave NV
18.40
0.85
4.84%
NL:CTPNV
CTP N.V.
14.22
-3.33
-19.00%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.