Catella AB (CAT-B) Fair Value & Analysis
Financial Services · SE · Market cap 1.8B SEK (≈ $184M) · ISIN SE0000188518
What is Catella AB really worth?
A solid business, but trading 118% above our fair value of kr 8.56.
Strengths
Risks
For context
Fair value as of: Aug 27, 2026
From 10 valuation models · updated 8 days ago
Share price −6.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- A high-quality business (quality 72/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case (kr 10.89). The favourable scenario is already priced in.
- A fairly wide model range (kr 5.30 to kr 10.89) leaves room in how you read the outcome.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
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 17.98 – kr 39.83 · fair‑value band kr 5.30 – kr 10.89 · the kr 18.66 price screens above the kr 8.56 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.
Analysis
Catella AB (CAT-B) currently trades at kr 18.66, while our model-based Fair Value estimate is kr 8.56, implying the stock looks roughly 118.0% overvalued today. The Quality Score stands at 72/100 (solid quality), in the Financial Services sector. Bull case: the Growth DCF group reads highest at a median of kr 82.89 per share, and 5 of the 10 models we run sit above the kr 18.66 price. Bear case: the Multiples group reads lowest at kr 7.06, and 5 of the 10 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Catella AB generated revenue of 2.0B SEK at a net margin of 9.2%. Revenue declined 11.1% year over year. It earns a return on equity of 10.6%. The balance sheet holds a net cash position of 137M SEK. Fundamentals as of Aug 27, 2026
Our scenario range runs from kr 5.30 (bear case) to kr 10.89 (bull case); at kr 18.66, 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 40% below its 52-week high, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at −54%, CAT-B screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly kr 0.7678 per share, which is 9.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
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.
All 10 models by family
Widest divergence: Growth DCF (kr 82.89) versus Multiples (kr 7.06). Highest evidence: Growth DCF (79).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 70 · Market factors (momentum, volatility) 31
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
Catella AB (publ) is a real estate investment firm. The firm together with its subsidiaries, provides property advisory and investments, and fund management services in Europe. The company operates in two segments, Corporate Finance and Asset Management.
Full company description
Catella AB (publ) is a real estate investment firm. The firm together with its subsidiaries, provides property advisory and investments, and fund management services in Europe. The company operates in two segments, Corporate Finance and Asset Management. The Corporate Finance segment offers strategic advisory, capital market-related, and transaction advisory services to real estate companies, financial institutions, property funds, and other property owners. The Asset Management segment provides property investment management, fund, and asset management services to institutional and other professional investors, as well as project management services in the early phase of property development projects. This segment also offers equity, hedge, and fixed income funds, as well as systematic funds. The company was formerly known as Scribona AB (publ) and changed its name to Catella AB (publ) in 2010. Catella AB (publ) was incorporated in 1961 and is headquartered in Stockholm, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Catella AB reported revenue of 2.1B SEK in FY2025 versus 1.7B SEK in FY2021, a compound +4.5%/yr. Reported net income was 48.0M SEK in FY2025, compounding −27.5%/yr from FY2021.
of which total revenue +2.0 % · buybacks/dilution −0.1 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
CAT-B screens 118% overvalued. Compare with Blackstone Inc →
Peer Group
Asset Management · 696 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.
Valuation Multiples vs Asset Management median · lower = cheaper
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.
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.
Similar stocks
10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Blackstone Inc BX | $142.39 | $52.88 | −63% |
| Investor AB INVEB | kr 417.20 | kr 824.66 | +98% |
| Brookfield Corporation BN | C$55.74 | C$10.67 | −81% |
| KKR & Co KKR | $108.68 | $19.97 | −82% |
| Apollo Global Management, Inc APO | $135.04 | $101.04 | −25% |
| State Street Corporation STT | $193.33 | $138.33 | −28% |
| Ameriprise Financial, Inc AMP | $559.32 | $515.24 | −8% |
| Ares Management Corporation ARES | $143.10 | $30.88 | −78% |
| Northern Trust Corporation NTRS | $186.79 | $122.02 | −35% |
| Raymond James Financial, Inc RJF | $181.10 | $142.42 | −21% |
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