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Altra Fastigheter AB (ALTRA) Fair Value & Analysis

Real Estate · SE · Market cap 14.2B SEK

AF Altra Fastigheter AB ALTRA · ST
Pricekr 80.10
Fair Valuekr 47.99
Upside-40.1%
Quality51/100
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Expensive Growth
Highly profitable · 23.2% net margin
Moderate debt · generates free cash flow
2.21% dividend yield
Trails peers (5/14)
Moderate moat 63/100
Evidence: High Range kr 35.99 – kr 59.99 Share as image

Fair value as of: Jul 12, 2026

From 22 valuation models · updated 28 days ago

Fair value updated Jul 12, 2026, revised from kr 59.33 to kr 47.99 (−19.1%) since Jun 25, 2026. Share price +14.3% over the past month.

A solid business, but screening 40% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 59.99). The favourable scenario is already priced in.
  • Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (3 months)

kr 80.10 kr 66.25 Fair Value kr 47.99 May 2026 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Jul 12, 2026.

How to read this chart

3‑month range kr 66.25 – kr 80.10 · fair‑value band kr 35.99 – kr 59.99 · the kr 80.10 price screens above the kr 47.99 fair value. As of Jul 12, 2026.

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Analysis

Altra Fastigheter AB (ALTRA) currently trades at kr 80.10, while our model-based Fair Value estimate is kr 47.99, implying the stock looks roughly 40.1% overvalued today. The Quality Score stands at 51/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Altra Fastigheter AB generated revenue of 3.5B SEK at a net margin of 20.2%. Revenue declined 4.6% year over year. It earns a return on equity of 4.0%. Net debt stands at 21.5B SEK. Fundamentals as of Jul 12, 2026

Our scenario range runs from kr 35.99 (bear case) to kr 59.99 (bull case); at kr 80.10, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 20% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -2% fair-value upside, at -40%, ALTRA screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF kr 2.27 kr 81.04 kr 220.09 80
Residual Income kr 66.83 kr 64.87 kr 54.97 76
Rev-Margin DCF kr 14.61 74
All 22 models by family
DCF Models
FCF DCF kr 4.01 kr 93.12 kr 257.00 38
5Y Revenue Exit kr 12.62 39
5Y EBITDA Exit kr 14.78 kr 109.24 kr 231.76 41
5Y P/E Exit kr 6.40 kr 52.02 38
10Y Revenue Exit kr 44.56 36
10Y EBITDA Exit kr 10.59 kr 96.74 kr 235.55 37
10Y P/E Exit kr 19.58 kr 78.89 35
Earnings-Based
Graham-Dodd kr 19.20 kr 101.91 kr 141.12 54
Lynch FV kr 28.08 kr 40.11 kr 52.15 50
PEG = 1.0 kr 28.08 kr 40.11 kr 52.15 46
EPV kr 12.42 kr 29.73 kr 44.87 59
Multiples
P/E Multiple kr 44.46 kr 59.28 kr 74.10 63
P/S Multiple kr 28.14 kr 37.52 kr 46.90 58
P/B Multiple kr 35.99 kr 47.99 kr 59.99 55
EV/EBIT kr 63.20 kr 114.73 kr 166.26 53
EV/EBITDA kr 26.92 kr 66.37 kr 105.81 54
Asset-Based
NCAV (Graham) kr 46.07 kr 61.73 kr 92.14 50
Growth DCF
Growth DCF kr 2.27 kr 81.04 kr 220.09 80
Rev-Margin DCF kr 14.61 74
Economic Profit
Residual Income kr 66.83 kr 64.87 kr 54.97 76
ROIC Compounder kr 12.42 kr 29.73 kr 44.87 72
Growth Earnings
Growth-Adj P/E kr 41.53 kr 59.33 kr 77.13 68

Widest divergence: DCF Models (kr 93.12) versus Economic Profit (kr 29.73). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 3.5B SEK
Revenue growth (YoY) -4.6%
Net margin 20.2%
Return on equity 4.0%
Free cash flow 1.3B SEK FY2025
P/E ratio 20.3
More key figures
Operating margin 57.7%
EPS (TTM) kr 3.37
Dividend yield 4.3%
EPS growth (YoY) +211%
Net debt 21.5B SEK FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 48 · Market factors (momentum, volatility) 63

Profitability 25
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 75
Earnings quality: real cash, not paper profit
Fin. Strength 28
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 41
Calm price path (market factor)
Momentum 70
Price trend over the last 3–12 months (market factor)
52W Momentum 75
Distance to the 52-week high (market factor)
Net Issuance 52
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Altra Fastigheter AB (publ), a transaction-intensive real estate company, invests, manages, develops, and sells properties in Sweden, Norway, and Finland. The company's property portfolio includes offices, warehouses, logistics, industry, and retail properties. It also owns and manages commercial properties.

Full company description

Altra Fastigheter AB (publ), a transaction-intensive real estate company, invests, manages, develops, and sells properties in Sweden, Norway, and Finland. The company's property portfolio includes offices, warehouses, logistics, industry, and retail properties. It also owns and manages commercial properties. Altra Fastigheter AB (publ) was formerly known as Nyfosa AB (publ) and changed its name to Altra Fastigheter AB (publ) in May 2026. Altra Fastigheter AB (publ) was founded in 2009 and is based in Nacka, Sweden.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Altra Fastigheter AB reported revenue of kr 3.6B in FY2025 versus kr 2.5B in FY2021, a compound +10.0%/yr. Reported net income was kr 542M in FY2025, compounding −35.4%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
3.6B SEK
Latest YoY
−1.8%
Avg. growth/yr (3Y)
+4.6%
Avg. growth/yr (5Y)
+11.8%
Avg. growth/yr (10Y)
+15.1%
Revenue +10.0%/yr
FY21 kr 2.5B
FY22 kr 3.2B
FY23 kr 3.6B
FY24 kr 3.7B
FY25 kr 3.6B
Net income −35.4%/yr
FY21 kr 3.1B
FY22 kr 1.7B
FY23 −kr 639M
FY24 kr 114M
FY25 kr 542M

ALTRA screens 40% overvalued. Compare with Vingroup Joint Stock Company →

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Cite: Fair Value Calculator (2026). "Altra Fastigheter AB Fair Value". https://www.fairvalue-calculator.com/stock/ALTRA

Peer Group

Real Estate Services · 521 stocks

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.

Quality Score 51 · Below median
Fair Value upside −40% · Bottom 25%
Return on equity (TTM) 4% · Below median
Return on assets 3% · Above median
Net margin (TTM) 23% · Above median
Operating margin (TTM) 62% · Top 25%
Revenue growth 100% · Top 25%
Dividend yield (TTM) 2.2% · Below median
Debt / equity 1.00× · Higher than 75% of peers

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 16.9× · Pricier than median
P/B 0.80× · Pricier than median
P/S (TTM) 5.29× · Pricier than 75% of peers
P/FCF 1.1× · Cheaper than median
EV/EBITDA 17.7× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 37
FUTURE 100 · sector 10
PAST 15 · sector 16
HEALTH 50 · sector 85
DIVIDEND 44 · sector 49

VALUE 0: the price sits above our fair-value range.

Insider activity: 45/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
Vingroup Joint Stock Company VIC 223,000 VND 25,731 VND -88%
KE Holdings 2423 HK$44.76 HK$18.03 -60%
Swire Properties Limited 1972 HK$23.90 HK$18.75 -22%
Plaza S.A MALLPLAZA 3,725 CLP 5,571 CLP +50%
SAGAA SAGAA kr 170.00 kr 75.55 -56%
Cencosud Shopping S.A CENCOMALLS 2,324 CLP 2,976 CLP +28%
PT Sarana Menara Nusantara Tbk. owns and TOWR 372.00 IDR 1,208 IDR +225%
PT Metropolitan Kentjana Tbk MKPI 20,975 IDR 19,160 IDR -9%
PT Bangun Kosambi Sukses Tbk, CBDK 3,530 IDR 3,464 IDR -2%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 3,998 ARS +60%

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Frequently asked questions

Is Altra Fastigheter AB (ALTRA) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of kr 47.99 versus a price of kr 80.10, about −40% (overvalued).
What is the fair value of ALTRA?
Our model-based fair value for Altra Fastigheter AB is kr 47.99 (as of Jul 12, 2026), built from audited fundamentals. The current price is kr 80.10.
What is the quality score of ALTRA?
Altra Fastigheter AB has a Quality Score of 51/100. 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 revenue of Altra Fastigheter AB (ALTRA)?
Altra Fastigheter AB reported trailing-twelve-month revenue of about 3.5B SEK (latest available figure, as of Jul 12, 2026).
What is the net profit margin of ALTRA?
The net profit margin of Altra Fastigheter AB is about 20.2%, meaning it keeps roughly 20.2% of revenue as net income. Based on the latest reported figures.
Does Altra Fastigheter AB pay a dividend?
Altra Fastigheter AB currently shows a dividend yield of about 4.34% relative to its recent price (as of Jul 12, 2026).

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.

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