Norstar (NSTR) - Net Assets
Based on the latest financial reports, Norstar (NSTR) has net assets worth ILA8.69 Billion ILA (≈ $23.29 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (ILA33.29 Billion ≈ $89.26 Million USD) and total liabilities (ILA24.61 Billion ≈ $65.97 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check asset resilience ratio of Norstar to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ILA8.69 Billion |
| % of Total Assets | 26.1% |
| Annual Growth Rate | -2.43% |
| 5-Year Change | -31.99% |
| 10-Year Change | -74.27% |
| Growth Volatility | 19.65 |
Norstar - Net Assets Trend (2006–2025)
This chart illustrates how Norstar's net assets have evolved over time, based on quarterly financial data. Also explore Norstar asset portfolio for the complete picture of this company's asset base.
Annual Net Assets for Norstar (2006–2025)
The table below shows the annual net assets of Norstar from 2006 to 2025. For live valuation and market cap data, see Norstar market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ILA8.69 Billion ≈ $23.29 Million |
-8.75% |
| 2024-12-31 | ILA9.52 Billion ≈ $25.53 Million |
-12.28% |
| 2023-12-31 | ILA10.86 Billion ≈ $29.10 Million |
-4.58% |
| 2022-12-31 | ILA11.38 Billion ≈ $30.50 Million |
-10.96% |
| 2021-12-31 | ILA12.78 Billion ≈ $34.25 Million |
+8.69% |
| 2020-12-31 | ILA11.75 Billion ≈ $31.51 Million |
-21.87% |
| 2019-12-31 | ILA15.04 Billion ≈ $40.34 Million |
-3.07% |
| 2018-12-31 | ILA15.52 Billion ≈ $41.61 Million |
-7.20% |
| 2017-12-31 | ILA16.73 Billion ≈ $44.84 Million |
-50.47% |
| 2016-12-31 | ILA33.77 Billion ≈ $90.53 Million |
+8.95% |
| 2015-12-31 | ILA31.00 Billion ≈ $83.10 Million |
+19.81% |
| 2014-12-31 | ILA25.87 Billion ≈ $69.36 Million |
+13.37% |
| 2013-12-31 | ILA22.82 Billion ≈ $61.18 Million |
+0.75% |
| 2012-12-31 | ILA22.65 Billion ≈ $60.72 Million |
+16.84% |
| 2011-12-31 | ILA19.38 Billion ≈ $51.97 Million |
+27.79% |
| 2010-12-31 | ILA15.17 Billion ≈ $40.67 Million |
+14.34% |
| 2009-12-31 | ILA13.27 Billion ≈ $35.57 Million |
+19.45% |
| 2008-12-31 | ILA11.11 Billion ≈ $29.77 Million |
-33.36% |
| 2007-12-31 | ILA16.66 Billion ≈ $44.68 Million |
+20.10% |
| 2006-12-31 | ILA13.88 Billion ≈ $37.20 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Norstar's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 12.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ILA2.50 Billion | 191.88% |
| Common Stock | ILA179.00 Million | 13.72% |
| Other Comprehensive Income | ILA-1.78 Billion | -136.48% |
| Other Components | ILA403.00 Million | 30.88% |
| Total Equity | ILA1.30 Billion | 100.00% |
Norstar Competitors by Market Cap
The table below lists competitors of Norstar ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Avatec Co. Ltd
KQ:149950
|
$121.71 Million |
|
Soquicom
SN:SOQUICOM
|
$121.72 Million |
|
Delta Lithium Ltd
AU:DLI
|
$121.82 Million |
|
Nanjing Putian Telecommunications Co Ltd Class B
SHE:200468
|
$121.86 Million |
|
FinLab AG
F:A7A
|
$121.66 Million |
|
Selectquote Inc
NYSE:SLQT
|
$121.64 Million |
|
Net Insight AB (publ)
ST:NETI-B
|
$121.62 Million |
|
Tidewater Midstream and Infrastructure Ltd
TO:TWM
|
$121.58 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Norstar's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,317,000,000 to 1,305,000,000, a change of -12,000,000 (-0.9%).
- Net loss of 23,000,000 reduced equity.
- Dividend payments of 9,000,000 reduced retained earnings.
- Other comprehensive income increased equity by 47,000,000.
- Other factors decreased equity by 27,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ILA-23.00 Million | -1.76% |
| Dividends Paid | ILA9.00 Million | -0.69% |
| Other Comprehensive Income | ILA47.00 Million | +3.6% |
| Other Changes | ILA-27.00 Million | -2.07% |
| Total Change | ILA- | -0.91% |
Book Value vs Market Value Analysis
This analysis compares Norstar's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 36.26x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has increased from 18.62x to 36.26x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-12-31 | ILA39.09 | ILA728.00 | x |
| 2007-12-31 | ILA45.93 | ILA728.00 | x |
| 2008-12-31 | ILA25.39 | ILA728.00 | x |
| 2009-12-31 | ILA38.18 | ILA728.00 | x |
| 2010-12-31 | ILA39.93 | ILA728.00 | x |
| 2011-12-31 | ILA44.00 | ILA728.00 | x |
| 2012-12-31 | ILA45.40 | ILA728.00 | x |
| 2013-12-31 | ILA44.59 | ILA728.00 | x |
| 2014-12-31 | ILA43.37 | ILA728.00 | x |
| 2015-12-31 | ILA279.17 | ILA728.00 | x |
| 2016-12-31 | ILA304.09 | ILA728.00 | x |
| 2017-12-31 | ILA139.52 | ILA728.00 | x |
| 2018-12-31 | ILA128.94 | ILA728.00 | x |
| 2019-12-31 | ILA117.57 | ILA728.00 | x |
| 2020-12-31 | ILA76.34 | ILA728.00 | x |
| 2021-12-31 | ILA62.62 | ILA728.00 | x |
| 2022-12-31 | ILA53.82 | ILA728.00 | x |
| 2023-12-31 | ILA29.63 | ILA728.00 | x |
| 2024-12-31 | ILA21.46 | ILA728.00 | x |
| 2025-12-31 | ILA20.08 | ILA728.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Norstar utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -1.76%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -1.00%
- • Asset Turnover: 0.07x
- • Equity Multiplier: 25.51x
- Recent ROE (-1.76%) is below the historical average (0.78%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2006 | 22.15% | 32.19% | 0.08x | 8.42x | ILA539.30 Million |
| 2007 | 17.18% | 26.46% | 0.08x | 8.40x | ILA410.90 Million |
| 2008 | -32.24% | -25.79% | 0.09x | 13.42x | ILA-1.41 Billion |
| 2009 | 21.22% | 23.53% | 0.09x | 9.93x | ILA582.10 Million |
| 2010 | 13.36% | 14.94% | 0.10x | 8.88x | ILA198.50 Million |
| 2011 | 8.77% | 9.64% | 0.10x | 9.35x | ILA-87.60 Million |
| 2012 | 12.19% | 13.68% | 0.10x | 9.05x | ILA172.10 Million |
| 2013 | 12.20% | 14.08% | 0.10x | 8.50x | ILA176.10 Million |
| 2014 | 0.91% | 1.16% | 0.09x | 8.72x | ILA-729.30 Million |
| 2015 | 8.25% | 8.49% | 0.09x | 11.21x | ILA-131.20 Million |
| 2016 | 9.65% | 16.39% | 0.06x | 10.65x | ILA-28.80 Million |
| 2017 | 5.72% | 7.56% | 0.06x | 13.11x | ILA-160.10 Million |
| 2018 | -7.79% | -9.47% | 0.06x | 14.34x | ILA-614.40 Million |
| 2019 | 12.72% | 14.53% | 0.06x | 13.61x | ILA85.50 Million |
| 2020 | -21.20% | -19.70% | 0.06x | 18.16x | ILA-697.60 Million |
| 2021 | 16.57% | 15.42% | 0.06x | 19.36x | ILA140.30 Million |
| 2022 | -40.53% | -33.35% | 0.06x | 20.96x | ILA-957.50 Million |
| 2023 | -37.51% | -27.30% | 0.06x | 22.00x | ILA-842.30 Million |
| 2024 | -4.33% | -2.25% | 0.07x | 27.39x | ILA-188.70 Million |
| 2025 | -1.76% | -1.00% | 0.07x | 25.51x | ILA-153.50 Million |
Industry Comparison
This section compares Norstar's net assets metrics with peer companies in the Real Estate Services industry.
Industry Context
- Industry: Real Estate Services
- Average net assets among peers: $3,576,195,400
- Average return on equity (ROE) among peers: 5.10%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Norstar (NSTR) | ILA8.69 Billion | 22.15% | 2.83x | $121.70 Million |
| Adgar Investments and Development Ltd (ADGR) | $199.91 Million | 8.80% | 4.31x | $218.36 Million |
| Afi Properties Ltd (AFPR) | $3.04 Billion | 11.83% | 2.20x | $2.54 Billion |
| Alony Hetz Properties and Investments Ltd (ALHE) | $9.91 Billion | 4.70% | 1.67x | $2.16 Billion |
| Amot Investments Ltd (AMOT) | $2.35 Billion | 16.09% | 1.67x | $2.67 Billion |
| Argo Properties NV (ARGO) | $166.42 Million | 11.82% | 0.35x | $824.26 Million |
| Ari Real Estate Arena Investment Ltd (ARIN) | $74.30 Million | 17.90% | 10.34x | $563.77 Million |
| Airport City Ltd (ARPT) | $1.94 Billion | 13.64% | 2.74x | $1.65 Billion |
| Aspen Group Ltd (ASGR) | $857.89 Million | 3.99% | 2.29x | $125.46 Million |
| ES Australia Israel Holdings Ltd (AUIS) | $101.12 Million | -44.85% | 3.94x | $14.18 Million |
| Azrieli Group Ltd (AZRG) | $17.12 Billion | 7.11% | 0.86x | $15.34 Billion |
About Norstar
Norstar Holdings Inc develops, rents, and manages real estate properties in Northern Europe, Central and Eastern Europe, Israel, Brazil, and the United States. It develops commerce, residential, and office properties. The company was formerly known as Gazit Inc. and changed its name to Norstar Holdings Inc in May 2011. Norstar Holdings Inc was incorporated in 1962 and is based in Panama City, Pan… Read more