ALM Equity AB Pfd. (ALM-PREF) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of ALM Equity AB Pfd. SEK 94.38, price SEK 86.50, upside +9.1%, quality 29 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch ALM Equity AB Pfd. for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range kr 52.30 – kr 91.80 · fair‑value band kr 70.43 – kr 140.86 · the kr 86.50 price screens below the kr 94.38 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
Follow ALM Equity AB Pfd. in your weekly email
Every Wednesday you see whether ALM Equity AB Pfd. is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
ALM Equity AB (publ), through its subsidiaries, acquires and develops housing property assets in Sweden. The company operates through Development, Contracting, and Management segments. It offers land and property acquisition, zoning planning process, concept development, and sales services; and contracting services for the entire construction process.
Show more
ALM Equity AB (publ), through its subsidiaries, acquires and develops housing property assets in Sweden. The company operates through Development, Contracting, and Management segments. It offers land and property acquisition, zoning planning process, concept development, and sales services; and contracting services for the entire construction process. The company is also involved in the management and operation of rental properties; and letting of vacant residential units and commercial premises. In addition, it provides a platform with working methods that make it adaptable to different volumes and orders. ALM Equity AB (publ) was founded in 1997 and is headquartered in Sundbyberg, Sweden.
Stock analysis
ALM Equity AB Pfd. (ALM-PREF) currently trades at kr 86.50, while our model-based Fair Value estimate is kr 94.38, so the stock looks roughly fairly valued today (gap 8.3%).
Show more
Valuation
Bull case: the Asset-Based group reads highest at a median of kr 94.97 per share, and 1 of the 5 models we run sit above the kr 86.50 price.
Bear case: the DCF Models group reads lowest at kr 34.42, and 4 of the 5 models stay below the price. Evidence for this calculation is low.
Scenario range: kr 70.43 (bear) to kr 140.86 (bull), the price of kr 86.50 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 29/100 (below-average quality), in the Real Estate sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
ALM Equity AB Pfd. reported revenue of 985M SEK in FY2025 versus 5.3B SEK in FY2021, a compound −34.2%/yr. Reported net income was −215M SEK in FY2025.
Key figures
Market cap 2.8B SEK (≈ $280M) · P/S ratio 3.21 · EPS (TTM) kr −16.85 · Net margin −21.8% · Return on equity −7.5% · Return on assets (EBIT) 0.8% · Operating margin −12.4% · Revenue (TTM) 877M SEK.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and 13% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −48% fair-value upside, at 9%, ALM-PREF screens cheaper than that median.
Fair Value models
Bear kr 70.43Fair Value kr 94.38Bull kr 140.86
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.10/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−68.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−47.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−10.9%
Start year 2020 (pandemic). Over 10 years: +0.5% a year
Revenue growth 17 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.4%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
20.8% (2020) → −14.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+76.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about +72.8% a year for the price.
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Real Estate - Diversified · 129 stocks
Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score32 · Bottom 25%
Fair Value upside+64.0% · Above median
Profitability
Return on assets−1.9% · Bottom 25%
Net margin (TTM)−18.2% · Bottom 25%
Operating margin (TTM)−12.4% · Bottom 25%
Growth and dividend
Revenue growth−38.8% · Bottom 25%
Dividend yield (TTM)0.0% · Bottom 25%
Balance sheet
Debt / equity0.45× · Below median
Valuation Multiplesvs Real Estate - Diversified median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "ALM Equity AB Pfd. Fair Value". https://www.fairvalue-calculator.com/stock/ALM-PREF
Frequently asked questions
Is ALM Equity AB Pfd. (ALM-PREF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 94.38 versus a price of kr 86.50, about +9% upside (fairly valued).
What is the fair value of ALM-PREF?
Our model-based fair value for ALM Equity AB Pfd. is kr 94.38 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 86.50.
What is the quality score of ALM-PREF?
ALM Equity AB Pfd. has a Quality Score of 29/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for ALM Equity AB Pfd. (ALM-PREF)?
Our model-based price target is the fair value of kr 94.38 (as of Sep 24, 2026) from 5 valuation models. Cautious scenario kr 70.43, optimistic scenario kr 140.86. It is a calculation from audited fundamentals, not an analyst target.
What is the ALM Equity AB Pfd. stock forecast for 2026?
Our models put fair value at kr 94.38, about +9% upside versus a price of kr 86.50 (fairly valued). Cautious scenario kr 70.43, optimistic scenario kr 140.86. The calculation is refreshed regularly with new filings.
What is the revenue of ALM Equity AB Pfd. (ALM-PREF)?
ALM Equity AB Pfd. reported trailing-twelve-month revenue of about 877M SEK (latest available figure, as of Sep 24, 2026).
What growth is priced into ALM Equity AB Pfd. (ALM-PREF)?
For today's price to be fair in a discounted-cash-flow model, ALM Equity AB Pfd. would have to grow free cash flow by +76.2 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -11.0 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of ALM-PREF use?
Our models discount ALM Equity AB Pfd. at 11.0 %: a base by market capitalisation (micro), damped by beta 0.25, country premium for Sweden. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For ALM Equity AB Pfd. that is +76.2 % per year a year over ten years, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has ALM Equity AB Pfd. (ALM-PREF) delivered so far?
Over the past 5 years revenue at ALM Equity AB Pfd. grew -11.0 % a year. The price currently implies +76.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of ALM Equity AB Pfd. (ALM-PREF) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into ALM Equity AB Pfd. (+76.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of ALM Equity AB Pfd. (ALM-PREF)?
The free-cash-flow yield on the price is 0.33 %: that much free cash flow ALM Equity AB Pfd. produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of ALM Equity AB Pfd. (ALM-PREF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ALM Equity AB Pfd. it is kr 94.38 per share (as of Sep 24, 2026), against a price of kr 86.50. It is the blended result of 5 valuation models (cash flow, earnings, asset, dividend).
Is ALM Equity AB Pfd. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ALM-PREF trades below its calculated fair value: price kr 86.50, fair value kr 94.38, a gap of about +9% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ALM-PREF?
No. The price is what the market pays today (kr 86.50); the fair value is what the company's own numbers justify (kr 94.38). For ALM Equity AB Pfd. the two are kr 7.88 per share apart. That gap is exactly why we show both numbers side by side.
How much is ALM Equity AB Pfd. worth?
The market values ALM Equity AB Pfd. at about 2.8B SEK (market capitalisation, as of Sep 24, 2026). Per share that is kr 86.50; our models calculate a fair value of kr 94.38 per share.
What do the bullish and bearish scenarios say about ALM-PREF?
Our models span a range for ALM Equity AB Pfd.: cautious scenario kr 70.43, base kr 94.38, optimistic kr 140.86 per share (as of Sep 24, 2026, price kr 86.50). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of ALM Equity AB Pfd. (ALM-PREF)?
Balance-sheet figures for ALM Equity AB Pfd. (as of Sep 24, 2026): return on equity −7.5%, debt of 0.45 per unit of equity. They feed the Quality Score of 29/100, which measures business quality independently of the share price.
How far is ALM-PREF from its 52-week high?
ALM Equity AB Pfd. trades at kr 86.50, about 6% below its 52-week high of kr 91.80 and 13% above the low of kr 76.61 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of kr 94.38 is for.
Which stocks are comparable to ALM Equity AB Pfd.?
From the same area (Real Estate) we also value Henderson Land Development Company, Swiss Prime Site AG, Central Pattana Public Company, The Phoenix Mills Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is ALM Equity AB Pfd. stock attractive at the current price?
The data as of Sep 24, 2026: price kr 86.50, calculated fair value kr 94.38 (+9%), Quality Score 29/100, from 5 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ALM-PREF calculated?
We run ALM Equity AB Pfd. through 5 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 94.38, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. ALM Equity AB Pfd. currently trades 8 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of ALM Equity AB Pfd. (ALM-PREF)?
The closing price on Oct 2, 2026 was kr 86.50. Our model-based fair value is kr 94.38, about +9% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ALM Equity AB Pfd. right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (kr 70.43 to kr 140.86) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of ALM Equity AB Pfd.
How large is the market capitalisation of ALM Equity AB Pfd. (ALM-PREF)?
The market capitalisation of ALM Equity AB Pfd. is 2.8B SEK (≈ $280M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of ALM Equity AB Pfd. (ALM-PREF)?
The price-to-sales ratio of ALM Equity AB Pfd. is 3.21 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of ALM Equity AB Pfd. (ALM-PREF)?
Earnings per share at ALM Equity AB Pfd. are kr −16.85. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of ALM Equity AB Pfd. (ALM-PREF)?
The net margin of ALM Equity AB Pfd. is −21.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of ALM Equity AB Pfd. (ALM-PREF)?
The return on equity (ROE) of ALM Equity AB Pfd. is −7.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of ALM Equity AB Pfd. (ALM-PREF)?
On an EBIT basis the return on assets of ALM Equity AB Pfd. is 0.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of ALM Equity AB Pfd. (ALM-PREF)?
The operating margin of ALM Equity AB Pfd. is −12.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ALM Equity AB Pfd. (ALM-PREF)?
Revenue at ALM Equity AB Pfd. is growing −38.8% versus a year earlier (3y avg −47.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does ALM Equity AB Pfd. (ALM-PREF) carry?
The net debt of ALM Equity AB Pfd. is 491M SEK (fiscal year 2025, ≈ 98.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch ALM Equity AB Pfd. in the live analysis
One click puts ALM Equity AB Pfd. on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
