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Bonava AB (BONAV-B) Fair Value & Analysis

Consumer Cyclical · SE · Market cap 3.1B SEK (≈ $325M) · ISIN SE0008091581

What is Bonava AB really worth?

BA Bonava AB BONAV-B · ST
Pricekr 10.22
Fair Valuekr 11.09
Upside+8.5%
Quality35/100

Below-average quality, currently priced close to our fair value of kr 11.09.

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Strengths

Low debt · generates free cash flow

Risks

!Weak Growth (revenue 5y −14.6 %/yr)
!Loss-making · -1.3% net margin
!Trails peers (5/13)
!Narrow moat 26/100
!Evidence only medium, so the estimate is less certain
Evidence: Medium Range kr 6.06 – kr 16.12

Fair value as of: Aug 27, 2026

From 13 valuation models · updated 8 days ago

Share price −0.8% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The model range is unusually wide (kr 6.06 to kr 16.12). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.

Price vs Fair Value (5 years)

kr 104.92 kr 7.29 Fair Value kr 11.09 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.

How to read this chart

60‑month range kr 7.29 – kr 104.92 · fair‑value band kr 6.06 – kr 16.12 · the kr 10.22 price screens below the kr 11.09 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.

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Analysis

Bonava AB (BONAV-B) currently trades at kr 10.22, while our model-based Fair Value estimate is kr 11.09, implying the stock looks roughly 7.9% fairly valued today. The Quality Score stands at 35/100 (below-average quality), in the Consumer Cyclical sector. Bull case: the Multiples group reads highest at a median of kr 15.55 per share, and 6 of the 13 models we run sit above the kr 10.22 price. Bear case: the Growth DCF group reads lowest at kr 6.70, and 7 of the 13 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Bonava AB generated revenue of 7.3B SEK at a net margin of −0.5%. Revenue declined 37.0% year over year. It earns a return on equity of −0.5%. Net debt stands at 3.4B SEK. Fundamentals as of Aug 27, 2026

Our scenario range runs from kr 6.06 (bear case) to kr 16.12 (bull case); at kr 10.22, the current price sits within 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 28% below its 52-week high and 21% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 45% fair-value upside, at 9%, BONAV-B screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF kr 3.10 kr 7.21 kr 14.58 74
Growth DCF kr 3.57 kr 7.53 kr 14.09 73
5Y EBITDA Exit kr 5.49 kr 12.47 kr 21.72 71
All 13 models by family
DCF Models
FCF DCF kr 3.10 kr 7.21 kr 14.58 74
5Y Revenue Exit kr 2.00 kr 6.43 kr 12.86 66
5Y EBITDA Exit kr 5.49 kr 12.47 kr 21.72 71
10Y Revenue Exit kr 2.10 kr 5.39 kr 8.89 63
10Y EBITDA Exit kr 4.43 kr 9.04 kr 13.97 66
Dividend Discount
Gordon GGM kr 10.24 kr 11.16 kr 12.55 67
DDM Multi-Stage kr 10.24 kr 12.65 kr 15.95 65
Multiples
EV/EBIT kr 10.44 kr 16.63 kr 22.82 63
EV/EBITDA kr 9.63 kr 15.55 kr 21.47 64
EV/Revenue kr 2.11 kr 6.50 kr 10.89 48
Asset-Based
NCAV (Graham) kr 10.80 kr 14.47 kr 21.60 52
Growth DCF
Growth DCF kr 3.57 kr 7.53 kr 14.09 73
Rev-Margin DCF kr 2.00 kr 6.70 kr 12.49 67

Widest divergence: Multiples (kr 15.55) versus Growth DCF (kr 6.70). Highest evidence: FCF DCF (74).

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Key figures & financial health

P/S ratio 0.37 TTM
EPS (TTM) kr −0.1200
Dividend yield 13.7%
Net margin −1.2% FY2025
Return on equity −0.5% TTM
Return on assets (EBIT) 2.8% avg 5y
More key figures
Profitability
Operating margin −10.0% TTM
Growth
Revenue (TTM) 7.3B SEK TTM
Revenue growth (YoY) −37.0% 3y avg −18.0%
EPS growth (YoY) +44.0%
Balance sheet & cash flow
Free cash flow 390M SEK FY2025
Net debt 3.4B SEK FY2025 · ≈ 8.8 yrs of FCF

Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 35/100

Of which business quality 34 · Market factors (momentum, volatility) 44

Profitability 16
Margins and returns on capital today
Quality Growth 66
Are margins and returns improving?
Cashflow 21
Earnings quality: real cash, not paper profit
Fin. Strength 36
Balance sheet, leverage, solvency risk
Investment 94
Disciplined investing over empire-building
Low Volatility 53
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 34
Distance to the 52-week high (market factor)
Net Issuance 0
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Bonava AB (publ), together with its subsidiaries, operates as a residential developer in Germany, Sweden, Finland, Estonia, Latvia, and Lithuania. The company constructs, develops, and sells multi-family and single-family homes, as well as semi-detached houses. It serves consumers and institutional investors.

Full company description

Bonava AB (publ), together with its subsidiaries, operates as a residential developer in Germany, Sweden, Finland, Estonia, Latvia, and Lithuania. The company constructs, develops, and sells multi-family and single-family homes, as well as semi-detached houses. It serves consumers and institutional investors. The company was founded in 1930 and is headquartered in Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bonava AB reported revenue of 7.7B SEK in FY2025 versus 14.7B SEK in FY2021, a compound −14.9%/yr. Reported net income was −89.0M SEK in FY2025.

Growth Quality 18/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
7.7B SEK
Latest YoY
−5.7%
Avg. revenue growth/yr (3Y) 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.
−18.0%
Avg. revenue 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.
−14.6%
Avg. revenue growth/yr (12Y) 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.
−1.4%
Value creation/yr 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
Revenue −14.9%/yr
FY21 14.7B SEK
FY22 14.0B SEK
FY23 13.3B SEK
FY24 8.2B SEK
FY25 7.7B SEK
Net income
FY21 808M SEK
FY22 −303M SEK
FY23 −1.3B SEK
FY24 −518M SEK
FY25 −89.0M SEK

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Cite: Fair Value Calculator (2026). "Bonava AB Fair Value". https://www.fairvalue-calculator.com/stock/BONAV-B

Peer Group

Residential Construction · 65 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 36 · Bottom 25%
Fair Value upside +9% · Below median
Return on assets 1% · Bottom 25%
Net margin (TTM) −1% · Bottom 25%
Operating margin (TTM) 6% · Below median
Revenue growth −17% · Bottom 25%
Dividend yield (TTM) 13.7% · Top 25%
Debt / equity 0.41× · Higher than median

Valuation Multiples vs Residential Construction median · lower = cheaper

P/B 0.05× · Cheaper than 75% of peers
P/S (TTM) 0.05× · Cheaper than 75% of peers
P/FCF 0.8× · Cheaper than 75% of peers
EV/EBITDA 7.8× · Cheaper than median

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE45 · sector 54
FUTURE0 · sector 0
PAST0 · sector 32
HEALTH80 · sector 88
DIVIDEND100 · sector 66

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

Similar stocks

10 more Residential Construction stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).

Stock Price Fair Value vs Fair Value
D.R. Horton, Inc DHI $145.26 $213.23 +47%
PulteGroup, Inc PHM $126.75 $190.17 +50%
Lennar Corporation LEN $85.11 $116.80 +37%
NVR, Inc NVR $6,396 $7,821 +22%
Toll Brothers, Inc TOL $146.22 $221.32 +51%
Taylor Morrison Home Corporation TMHC $72.45 $136.88 +89%
Installed Building Products, Inc IBP $237.70 $209.51 −12%
Meritage Homes Corporation MTH $71.06 $102.94 +45%
Champion Homes, Inc SKY $93.88 $75.12 −20%
Cavco Industries, Inc CVCO $598.38 $421.10 −30%

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Frequently asked questions

Is Bonava AB (BONAV-B) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of kr 11.09 versus a price of kr 10.22, about +9% upside (fairly valued).
What is the fair value of BONAV-B?
Our model-based fair value for Bonava AB is kr 11.09 (as of Aug 27, 2026), built from audited fundamentals. The current price: kr 10.22.
What is the quality score of BONAV-B?
Bonava AB has a Quality Score of 35/100. 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 Bonava AB (BONAV-B)?
Bonava AB reported trailing-twelve-month revenue of about 7.3B SEK (latest available figure, as of Aug 27, 2026).
What is the net profit margin of BONAV-B?
The net profit margin of Bonava AB is about −0.5%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Bonava AB pay a dividend?
Bonava AB currently shows a dividend yield of about 13.72% relative to its recent price (as of Aug 27, 2026).
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