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AROS Bostadsutveckling AB (BESQAB) Fair Value & Analysis

Real Estate · SE · Market cap 3.3B SEK

AB AROS Bostadsutveckling AB BESQAB · ST
Pricekr 28.90
Fair Valuekr 16.66
Upside-42.4%
Quality31/100
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Mixed Growth
Thin margins · 5.6% net margin
Low debt · negative free cash flow
Mixed vs. peers (5/12)
Narrow moat 42/100
Evidence: Low Range kr 7.48 – kr 28.78 Share as image

Fair value as of: Jul 17, 2026

From 3 valuation models · updated 24 days ago

Fair value updated Jul 17, 2026, revised from kr 18.45 to kr 16.66 (−9.7%) since Jun 26, 2026. Share price +0.7% over the past month.

Below-average quality, and screening another 42% overvalued on our models.

What matters now

  • Weak quality (31/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The model range is unusually wide (kr 7.48 to kr 28.78). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • 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 (5 years)

kr 64.00 kr 20.90 Fair Value kr 16.66 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range kr 20.90 – kr 64.00 · fair‑value band kr 7.48 – kr 28.78 · the kr 28.90 price screens above the kr 16.66 fair value. Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

AROS Bostadsutveckling AB (BESQAB) currently trades at kr 28.90, while our model-based Fair Value estimate is kr 16.66, implying the stock looks roughly 42.4% overvalued today. The Quality Score stands at 31/100 (below-average 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: low).

Over the trailing twelve months, AROS Bostadsutveckling AB generated revenue of 1.5B SEK at a net margin of 0.5%. It earns a return on equity of 0.2%. Net debt stands at 2.2B SEK. The stock trades on a trailing P/E of 95.7. Fundamentals as of Jul 17, 2026

Our scenario range runs from kr 7.48 (bear case) to kr 28.78 (bull case); at kr 28.90, 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 about 11% below its 52-week high and 35% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at -42%, BESQAB 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 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
Highest evidence
Gordon GGM kr 6.71 kr 13.36 kr 20.24 70
DDM Multi-Stage kr 6.71 kr 11.55 kr 14.11 61
NCAV (Graham) kr 12.97 kr 17.37 kr 25.93 50
All 3 models by family
Dividend Discount
Gordon GGM kr 6.71 kr 13.36 kr 20.24 70
DDM Multi-Stage kr 6.71 kr 11.55 kr 14.11 61
Asset-Based
NCAV (Graham) kr 12.97 kr 17.37 kr 25.93 50

Widest divergence: Asset-Based (kr 17.37) versus Dividend Discount (kr 11.55). Highest evidence: Gordon GGM (70).

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Key figures & financial health

Revenue (TTM) 2.1B SEK
Revenue growth (YoY) +654%
Net margin 5.6%
Return on equity 4.4%
Free cash flow −1.5B SEK FY2025
P/E ratio 95.7
More key figures
Operating margin 23.0%
EPS (TTM) kr 0.3000
Net debt 2.2B SEK FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 31/100

Of which business quality 32 · Market factors (momentum, volatility) 53

Profitability 4
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 45
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 48
Distance to the 52-week high (market factor)
Net Issuance 40
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

AROS Bostadsutveckling AB engages in green field development of residential buildings and conversion of commercial real estate into residential premises. The company was founded in 2006 and is based in Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

AROS Bostadsutveckling AB reported revenue of kr 836M in FY2025 versus kr 105M in FY2021, a compound +68.1%/yr. Reported net income was −kr 113M in FY2025.

Growth Quality 44/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
836M SEK
Latest YoY
−75.2%
Avg. growth/yr (5Y) 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.
+119.5%
Avg. growth/yr (13Y) 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.
+1.1%
Revenue +68.1%/yr
FY21 kr 105M
FY22 kr 41.1M
FY23 kr 1.5B
FY24 kr 3.4B
FY25 kr 836M
Net income
FY21 kr 44.6M
FY22 −kr 62.6M
FY23 kr 168M
FY24 kr 40.4M
FY25 −kr 113M
Character of growth · EPS growth decomposed (2012-2023) −6.1 % p.a.
Revenue per share −10.2 pp

of which total revenue +0.5 pp · buybacks/dilution −10.8 pp

EBIT margin −0.9 pp
Tax rate +0.6 pp
Residual (interest, one-offs) +4.5 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

BESQAB screens 42% overvalued. Compare with DLF Limited →

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Cite: Fair Value Calculator (2026). "AROS Bostadsutveckling AB Fair Value". https://www.fairvalue-calculator.com/stock/BESQAB

Peer Group

Real Estate - Development · 588 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 33 · Bottom 25%
Fair Value upside −42% · Bottom 25%
Return on equity (TTM) 4% · Above median
Return on assets 2% · Above median
Net margin (TTM) 6% · Below median
Operating margin (TTM) 23% · Above median
Revenue growth 654% · Top 25%
Debt / equity 0.03× · Lower than 75% of peers

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 95.7× · Pricier than 75% of peers
P/B 1.11× · Pricier than 75% of peers
P/S (TTM) 1.57× · Pricier than median
EV/EBITDA 17.8× · 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 48
FUTURE 100 · sector 0
PAST 18 · sector 10
HEALTH 98 · sector 84
DIVIDEND 0 · sector 38

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

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 - Development stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is AROS Bostadsutveckling AB (BESQAB) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of kr 16.66 versus a price of kr 28.90, about −42% (overvalued).
What is the fair value of BESQAB?
Our model-based fair value for AROS Bostadsutveckling AB is kr 16.66 (as of Jul 17, 2026), built from audited fundamentals. The current price is kr 28.90.
What is the quality score of BESQAB?
AROS Bostadsutveckling AB has a Quality Score of 31/100. 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 AROS Bostadsutveckling AB (BESQAB)?
AROS Bostadsutveckling AB reported trailing-twelve-month revenue of about 1.5B SEK (latest available figure, as of Jul 17, 2026).
What is the net profit margin of BESQAB?
The net profit margin of AROS Bostadsutveckling AB is about 0.5%, meaning it keeps roughly 0.5% of revenue as net income. 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.

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