ALTRA FASTIGHETER (ALTRA) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of ALTRA FASTIGHETER SEK 83.60, price SEK 74.70, upside +11.9%, quality 51 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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.
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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.
Stock analysis
ALTRA FASTIGHETER (ALTRA) currently trades at kr 74.70, while our model-based Fair Value estimate is kr 83.60, implying the stock looks roughly 10.6% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 66.97 per share, and 6 of the 22 models we run sit above the kr 74.70 price.
Bear case: the Economic Profit group reads lowest at kr 29.73, and 16 of the 22 models stay below the price. Evidence for this calculation is high.
Scenario range: kr 58.52 (bear) to kr 108.68 (bull), the price of kr 74.70 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 51/100 (solid quality), in the Real Estate sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
ALTRA FASTIGHETER reported revenue of 3.6B SEK in FY2025 versus 2.5B SEK in FY2021, a compound +10.0%/yr. Reported net income was 542M SEK in FY2025, compounding −35.4%/yr from FY2021.
Key figures
Market cap 15.5B SEK (≈ $1.6B) · P/E ratio 22.2 · P/S ratio 3.34 · EPS (TTM) kr 3.37 · Dividend yield 2.1% · Net margin 15.0% · Return on equity 4.0% · Return on assets (EBIT) 4.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
For context, the median of 10 Real Estate peers we cover trades at −37% fair-value upside, at 12%, ALTRA screens cheaper than that median.
Fair Value models
Bear kr 58.52Fair Value kr 83.60Bull kr 108.68
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (kr 2.06 per share) are deliberately not added.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.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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−1.8%
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.
+4.6%
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.
+11.8%
Start year 2020 (pandemic). Over 10 years: +15.1% a year
Revenue growth 10 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.
+15.1%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
+11.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.6%
Dividend (yield on the price)2.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−27% vs −8%, slowing
Profit margin 2018 to 2023 ⓘ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.64% → 64%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
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).
+18.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+0.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about +15.7% a year for the price and −1.1% for the forecasts.
Price, fair value, quality and upside side by side.
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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 Services · 547 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside+10% · Above median
Profitability
Return on equity (TTM)4% · Below median
Return on assets3% · Above median
Net margin (TTM)23% · Above median
Operating margin (TTM)62% · Top 25%
Growth and dividend
Revenue growth100% · Top 25%
Dividend yield (TTM)2.1% · Below median
Balance sheet
Debt / equity1.00× · Highest 25%
Valuation Multiplesvs Real Estate Services 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). "ALTRA FASTIGHETER Fair Value". https://www.fairvalue-calculator.com/stock/ALTRA
Frequently asked questions
Is ALTRA FASTIGHETER (ALTRA) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of kr 83.60 versus a price of kr 74.70, about +12% upside (undervalued).
What is the fair value of ALTRA?
Our model-based fair value for ALTRA FASTIGHETER is kr 83.60 (as of Sep 23, 2026), built from audited fundamentals. The current price: kr 74.70.
What is the quality score of ALTRA?
ALTRA FASTIGHETER 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 price target for ALTRA FASTIGHETER (ALTRA)?
Our model-based price target is the fair value of kr 83.60 (as of Sep 23, 2026) from 22 valuation models. Cautious scenario kr 58.52, optimistic scenario kr 108.68. It is a calculation from audited fundamentals, not an analyst target.
What is the ALTRA FASTIGHETER stock forecast for 2026?
Our models put fair value at kr 83.60, about +12% upside versus a price of kr 74.70 (undervalued). Cautious scenario kr 58.52, optimistic scenario kr 108.68. The calculation is refreshed regularly with new filings.
What is the revenue of ALTRA FASTIGHETER (ALTRA)?
ALTRA FASTIGHETER reported trailing-twelve-month revenue of about 3.5B SEK (latest available figure, as of Sep 23, 2026).
Does ALTRA FASTIGHETER pay a dividend?
ALTRA FASTIGHETER currently shows a dividend yield of about 2.07% relative to its recent price (as of Sep 23, 2026).
What growth is priced into ALTRA FASTIGHETER (ALTRA)?
For today's price to be fair in a discounted-cash-flow model, ALTRA FASTIGHETER would have to grow free cash flow by +18.0 % per year for five years (discount rate 10.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.8 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of ALTRA use?
Our models discount ALTRA FASTIGHETER at 10.8 %: a base by market capitalisation (large), damped by beta 1.78, 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 ALTRA FASTIGHETER that is +18.0 % per year a year over ten years, using the same discount rate (10.8 %) and the same formula as our fair value.
How much growth has ALTRA FASTIGHETER (ALTRA) delivered so far?
Over the past 5 years revenue at ALTRA FASTIGHETER grew +11.8 % a year. The price currently implies +18.0 % 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 ALTRA FASTIGHETER (ALTRA) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into ALTRA FASTIGHETER (+18.0 % 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 ALTRA FASTIGHETER (ALTRA)?
The free-cash-flow yield on the price is 8.64 %: that much free cash flow ALTRA FASTIGHETER produces per unit of market value. When it exceeds the discount rate of our models (10.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of ALTRA FASTIGHETER (ALTRA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ALTRA FASTIGHETER it is kr 83.60 per share (as of Sep 23, 2026), against a price of kr 74.70. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is ALTRA FASTIGHETER stock overvalued or undervalued in 2026?
As of Sep 23, 2026, ALTRA trades below its calculated fair value: price kr 74.70, fair value kr 83.60, a gap of about +12% (undervalued). 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 ALTRA?
No. The price is what the market pays today (kr 74.70); the fair value is what the company's own numbers justify (kr 83.60). For ALTRA FASTIGHETER the two are kr 8.90 per share apart. That gap is exactly why we show both numbers side by side.
How much is ALTRA FASTIGHETER worth?
The market values ALTRA FASTIGHETER at about 15.5B SEK (market capitalisation, as of Sep 23, 2026). Per share that is kr 74.70; our models calculate a fair value of kr 83.60 per share.
What do the bullish and bearish scenarios say about ALTRA?
Our models span a range for ALTRA FASTIGHETER: cautious scenario kr 58.52, base kr 83.60, optimistic kr 108.68 per share (as of Sep 23, 2026, price kr 74.70). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ALTRA?
ALTRA FASTIGHETER trades at a price-to-earnings ratio of 22.2 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 83.60 is built from several models across several years. Other multiples: P/B 0.9, P/S 5.9, EV/EBITDA 18.7.
How solid is the balance sheet of ALTRA FASTIGHETER (ALTRA)?
Balance-sheet figures for ALTRA FASTIGHETER (as of Sep 23, 2026): return on equity 3.6%, debt of 1.00 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
Which stocks are comparable to ALTRA FASTIGHETER?
From the same area (Real Estate) we also value CBRE Group, Vonovia SE, Cellnex Telecom, S.A, KE Holdings, 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 ALTRA FASTIGHETER stock attractive at the current price?
The data as of Sep 23, 2026: price kr 74.70, calculated fair value kr 83.60 (+12%), Quality Score 51/100, from 22 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 ALTRA calculated?
We run ALTRA FASTIGHETER through 22 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 83.60, 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 14.1 % above its aggregate fair value. ALTRA FASTIGHETER currently trades 12 % 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 ALTRA FASTIGHETER (ALTRA)?
The closing price on Sep 23, 2026 was kr 74.70. Our model-based fair value is kr 83.60, about +12% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ALTRA FASTIGHETER right now?
A fairly wide model range (kr 58.52 to kr 108.68) leaves room in how you read the outcome. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of ALTRA FASTIGHETER (ALTRA) come from?
Earnings per share at ALTRA FASTIGHETER grew −14.0 % a year from 2015 to 2025. Broken into its drivers: revenue per share +14.8 %, EBIT margin +1.8 %, tax rate −4.4 %, residual (interest, one-offs) −23.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of ALTRA FASTIGHETER
How large is the market capitalisation of ALTRA FASTIGHETER (ALTRA)?
The market capitalisation of ALTRA FASTIGHETER is 15.5B SEK (≈ $1.6B). 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 ALTRA FASTIGHETER (ALTRA)?
The price-to-sales ratio of ALTRA FASTIGHETER is 3.34 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of ALTRA FASTIGHETER (ALTRA)?
Earnings per share at ALTRA FASTIGHETER are kr 3.37 (price ÷ EPS = P/E 22.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of ALTRA FASTIGHETER (ALTRA)?
The dividend yield of ALTRA FASTIGHETER is 2.1% (payout 46.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of ALTRA FASTIGHETER (ALTRA)?
The net margin of ALTRA FASTIGHETER is 15.0% (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 ALTRA FASTIGHETER (ALTRA)?
The return on equity (ROE) of ALTRA FASTIGHETER is 4.0% (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 ALTRA FASTIGHETER (ALTRA)?
On an EBIT basis the return on assets of ALTRA FASTIGHETER is 4.8% (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 ALTRA FASTIGHETER (ALTRA)?
The operating margin of ALTRA FASTIGHETER is 57.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ALTRA FASTIGHETER (ALTRA)?
Revenue at ALTRA FASTIGHETER is growing −4.6% versus a year earlier (3y avg +4.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at ALTRA FASTIGHETER (ALTRA)?
Earnings per share at ALTRA FASTIGHETER are growing +211% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does ALTRA FASTIGHETER (ALTRA) carry?
The net debt of ALTRA FASTIGHETER is 21.5B SEK (fiscal year 2025, ≈ 16.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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