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ALM Equity AB (ALM) Fair Value & Analysis

Real Estate · SE · Market cap 1.5B SEK

AE ALM Equity AB ALM · ST
Pricekr 46.70
Fair Valuekr 91.06
Upside+95.0%
Quality92/100
Evidence: Low Range kr 67.96 – kr 135.91

Fair value as of: Jun 26, 2026

From 6 valuation models · updated 3 days ago

Share price −2.7% over the past month.

Price vs Fair Value (12 months)

kr 95.41 kr 44.39 Fair Value kr 91.06 Jun 2025 Jun 2026

12‑month range kr 44.39 – kr 95.41 · fair‑value band kr 67.96 – kr 135.91 · the kr 46.70 price screens below the kr 91.06 fair value. As of Jun 26, 2026.

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Analysis

ALM Equity AB (ALM) currently trades at kr 46.70, while our model-based Fair Value estimate is kr 91.06 — implying the stock looks roughly 95.0% undervalued today. We read business quality at 92/100 (high quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low) — always confirm before acting.

Over the trailing twelve months, ALM Equity AB generated revenue of 877M SEK at a net margin of -18.2%. Revenue declined 38.8% year over year. It earns a return on equity of -7.5%. Net debt stands at 491M SEK. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) 877M SEK
Revenue growth (YoY) -38.8%
Net margin -18.2%
Return on equity -7.5%
Free cash flow 5.0M SEK FY2025
Operating margin -12.4%
More key figures
EPS (TTM) kr -16.88
EPS growth (YoY) +174,043%
Net debt 491M SEK FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 26, 2026. TTM = trailing twelve months.

About the company

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.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ALM Equity AB reported revenue of kr 985M in FY2025 versus kr 5.3B in FY2021, a compound −34.2%/yr. Reported net income was −kr 215M in FY2025.

Revenue −34.2%/yr
FY21 kr 5.3B
FY22 kr 6.9B
FY23 kr 2.4B
FY24 kr 3.1B
FY25 kr 985M
Net income
FY21 kr 3.4B
FY22 −kr 576M
FY23 −kr 2.0B
FY24 −kr 950M
FY25 −kr 215M

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Similar stocks

6 more Real Estate - Diversified stocks, each showing price versus our Fair Value estimate (as of Jun 26, 2026).

Stock Price Fair Value vs Fair Value
Mitsubishi Estate Co MITEY $23.69 $13.49 -43%
Mitsui Fudosan Co MTSFF $9.20 $13.56 +47%
Henderson Land Development Company HLDVF $3.23 $1.27 -61%
Swiss Prime Site AG SPSN CHF 130.90 CHF 71.28 -46%
Central Pattana Public Company CPNR 65.00 THB 104.03 THB +60%
SM Prime Holdings SPHXF $0.2801 $0.6700 +139%

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Frequently asked questions

Is ALM Equity AB (ALM) undervalued?
As of Jun 26, 2026, our model estimates a fair value of kr 91.06 versus a price of kr 46.70 — about +95% (undervalued). Model-based estimate, not financial advice.
What is the fair value of ALM?
Our 21-model fair value for ALM Equity AB is kr 91.06 (as of Jun 26, 2026), built from audited fundamentals. The current price is kr 46.70.
What is the quality score of ALM?
ALM Equity AB has a Quality Score of 92/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of ALM Equity AB (ALM)?
ALM Equity AB reported trailing-twelve-month revenue of about 877M SEK (latest available figure, as of Jun 26, 2026).
What is the net profit margin of ALM?
The net profit margin of ALM Equity AB is about -18.2%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.