Instone Real Estate Group (DE:INS)
XETRA:INS
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Instone Real Estate Group
(XETRA:INS)
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Rating:60Neutral
Price Target:
€9.00
▲(6.01% Upside)
Action:Reiterated
Date:05/09/26
The score is held back primarily by weak cash-flow conversion (negative operating and free cash flow in 2025 and TTM) despite improved reported profitability and better leverage. Offsetting this, the stock screens as inexpensive (low P/E) with a high dividend yield, while technicals are broadly neutral.
Positive Factors
Improved Profitability
Reported net margin near 11% TTM reflects sustained improvement in project-level profitability and pricing or cost control. Over the next several months this suggests earnings are less dependent on one-off gains and provide a more durable earnings base for development cycle recovery.
Negative Factors
Negative Cash Conversion
Operating and free cash flow turning negative despite reported profits is a structural quality-of-earnings concern. Overcoming negative cash conversion requires external funding or working-capital relief, increasing liquidity risk and potentially constraining project activity over the coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Profitability
Reported net margin near 11% TTM reflects sustained improvement in project-level profitability and pricing or cost control. Over the next several months this suggests earnings are less dependent on one-off gains and provide a more durable earnings base for development cycle recovery.
Read all positive factors
Instone Real Estate Group (INS) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€394.70M
Dividend Yield6.36%
Average Volume (3M)7.33K
Price to Earnings (P/E)5.1
Beta (1Y)0.60
Revenue Growth8.97%
EPS Growth41.85%
CountryDE
Employees336
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)1.18
Shares Outstanding46,988,335
10 Day Avg. Volume9,157
30 Day Avg. Volume7,331
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)0.55
Price to Sales (P/S)0.81
P/FCF Ratio-10.50
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€15.00Price Target Upside76.68% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.84
Revenue Forecast (FY)€552.04M
Instone Real Estate Group Business Overview & Revenue Model
Company Description
Instone Real Estate Group SE, together with its subsidiaries, develops residential real estate properties in Germany. The company develops residential buildings and apartment complexes, as well as publicly subsidized residential properties; design...
How the Company Makes Money
null...
Instone Real Estate Group Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
57
Neutral
Cash Flow
32
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 471.57M | 412.21M | 434.57M | 514.25M | 567.51M | 741.24M |
| Gross Profit | 153.83M | 95.42M | 104.83M | 137.32M | 139.89M | 199.11M |
| EBITDA | 92.25M | 85.32M | 77.73M | 72.61M | 70.19M | 121.84M |
| Net Income | 50.90M | 44.58M | 31.19M | 20.11M | 40.59M | 83.05M |
Balance Sheet | ||||||
| Total Assets | 1.44B | 1.90B | 1.94B | 1.84B | 1.78B | 1.52B |
| Cash, Cash Equivalents and Short-Term Investments | 257.41M | 367.48M | 262.25M | 383.61M | 242.99M | 123.13M |
| Total Debt | 439.00M | 500.57M | 522.81M | 547.35M | 531.59M | 400.22M |
| Total Liabilities | 814.49M | 1.28B | 1.35B | 1.26B | 1.21B | 929.81M |
| Stockholders Equity | 628.06M | 611.67M | 587.38M | 570.36M | 573.71M | 590.88M |
Cash Flow | ||||||
| Free Cash Flow | -13.32M | -31.84M | 102.42M | 107.61M | 69.77M | 42.15M |
| Operating Cash Flow | -13.28M | -31.82M | 102.48M | 107.68M | 70.17M | 43.91M |
| Investing Cash Flow | -109.79M | -10.12M | 14.09M | 11.54M | 9.44M | 123.52M |
| Financing Cash Flow | -32.05M | -16.83M | -73.93M | 9.78M | 45.01M | -123.51M |
Instone Real Estate Group Technical Analysis
Negative
8.49
Price Trends
8.38
Positive
8.54
Negative
8.58
Negative
Market Momentum
0.03
Positive
49.18
Neutral
31.50
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:INS, the sentiment is Negative. The current price of 8.49 is below the 20-day moving average (MA) of 8.60, above the 50-day MA of 8.38, and below the 200-day MA of 8.58, indicating a neutral trend. The MACD of 0.03 indicates Positive momentum. The RSI at 49.18 is Neutral, neither overbought nor oversold. The STOCH value of 31.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:INS.
Instone Real Estate Group Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
60 Neutral | €394.70M | 5.07 | 7.44% | 6.36% | 8.97% | 41.85% | |
59 Neutral | €7.72B | 7.17 | -4.98% | 0.20% | -0.35% | ― | |
53 Neutral | €648.98M | 13.13 | 1.56% | 4.33% | 7.37% | 60.95% | |
50 Neutral | €2.18M | -0.27 | -36.27% | ― | 44.49% | 53.72% |
* Real Estate Sector Average
DE:INS
Instone Real Estate Group
8.48
-0.03
-0.31%
DE:DWNI
Deutsche Wohnen
19.68
-2.78
-12.38%
DE:FVI
Fair Value REIT AG
2.70
-0.90
-25.00%
DE:PAT
Patrizia Immobilien
7.65
0.12
1.54%
DE:GTY
Gateway Real Estate AG
0.38
-0.28
-42.84%
DE:NUVA
Noratis AG
0.16
-0.64
-79.88%
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.