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Catena AB (CATE) Fair Value & Analysis

Real Estate · SE · Market cap 27.2B SEK

CA Catena AB CATE · ST
Pricekr 403.40
Fair Valuekr 298.00
Upside-26.1%
Quality38/100
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Expensive Growth
Highly profitable · 75.0% net margin
Moderate debt · generates free cash flow
2.32% dividend yield
Mixed vs. peers (7/15)
Wide moat 67/100
Evidence: High Range kr 195.75 – kr 421.08 Share as image

Fair value as of: Jul 14, 2026

From 14 valuation models · updated 26 days ago

Fair value updated Jul 14, 2026, revised from kr 298.41 to kr 298.00 (−0.1%) since Jun 26, 2026. Share price +1.1% over the past month.

Below-average quality, and screening another 26% overvalued on our models.

What matters now

  • Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (kr 195.75 to kr 421.08) 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.
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Price vs Fair Value (5 years)

kr 560.78 kr 276.95 Fair Value kr 298.00 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range kr 276.95 – kr 560.78 · fair‑value band kr 195.75 – kr 421.08 · the kr 403.40 price screens above the kr 298.00 fair value. Dashed = 300-day average. As of Jul 14, 2026.

Full chart & analysis →

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Analysis

Catena AB (CATE) currently trades at kr 403.40, while our model-based Fair Value estimate is kr 298.00, implying the stock looks roughly 26.1% overvalued today. The Quality Score stands at 38/100 (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: high).

Over the trailing twelve months, Catena AB generated revenue of 2.7B SEK at a net margin of 62.3%. Revenue grew 8.7% year over year. It earns a return on equity of 6.7%. Net debt stands at 17.9B SEK. Fundamentals as of Jul 14, 2026

Our scenario range runs from kr 195.75 (bear case) to kr 421.08 (bull case); at kr 403.40, 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 19% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -30% fair-value upside, at -26%, CATE screens cheaper 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 153.79 kr 476.98 kr 1,130 80
Residual Income kr 291.51 kr 305.80 kr 325.04 76
Rev-Margin DCF kr 56.26 kr 286.54 kr 726.76 74
All 14 models by family
DCF Models
FCF DCF kr 177.53 kr 406.65 kr 1,136 38
5Y Revenue Exit kr 46.59 kr 228.82 kr 609.04 39
5Y EBITDA Exit kr 200.21 kr 539.46 kr 1,205 41
10Y Revenue Exit kr 80.56 kr 409.50 kr 608.41 36
10Y EBITDA Exit kr 201.59 kr 740.30 kr 1,686 37
Multiples
P/S Multiple kr 195.75 kr 260.99 kr 326.24 58
P/B Multiple kr 315.70 kr 420.93 kr 526.16 55
EV/EBIT kr 313.81 kr 492.41 kr 671.00 53
EV/EBITDA kr 192.24 kr 330.31 kr 468.37 54
EV/Revenue kr 59.10 kr 143.42 43
Asset-Based
NCAV (Graham) kr 180.52 kr 241.90 kr 361.05 50
Growth DCF
Growth DCF kr 153.79 kr 476.98 kr 1,130 80
Rev-Margin DCF kr 56.26 kr 286.54 kr 726.76 74
Economic Profit
Residual Income kr 291.51 kr 305.80 kr 325.04 76

Widest divergence: DCF Models (kr 409.50) versus Asset-Based (kr 241.90). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 2.7B SEK
Revenue growth (YoY) +8.7%
Net margin 62.3%
Return on equity 6.7%
Free cash flow 1.6B SEK FY2025
P/E ratio 15.2
More key figures
Operating margin 78.9%
EPS (TTM) kr 27.35
Dividend yield 2.3%
EPS growth (YoY) +1.4%
Net debt 17.9B SEK FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 38/100

Of which business quality 40 · Market factors (momentum, volatility) 36

Profitability 36
Margins and returns on capital today
Quality Growth 74
Are margins and returns improving?
Cashflow 58
Earnings quality: real cash, not paper profit
Fin. Strength 43
Balance sheet, leverage, solvency risk
Investment 21
Disciplined investing over empire-building
Low Volatility 61
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 17
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.

About the company

Catena AB (publ) owns, develops, manages, and sells logistics properties in Sweden and Denmark. It provides terminals for immediate transshipment; logistics warehouses for storage; distribution centers; warehouses for cold storage; fully automated warehouses; omni warehouses; and city logistics.

Full company description

Catena AB (publ) owns, develops, manages, and sells logistics properties in Sweden and Denmark. It provides terminals for immediate transshipment; logistics warehouses for storage; distribution centers; warehouses for cold storage; fully automated warehouses; omni warehouses; and city logistics. The company was founded in 1967 and is headquartered in Helsingborg, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Catena AB reported revenue of kr 2.7B in FY2025 versus kr 1.4B in FY2021, a compound +17.6%/yr. Reported net income was kr 1.6B in FY2025, compounding −11.6%/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)
2.7B SEK
Latest YoY
+21.6%
Avg. growth/yr (3Y)
+20.0%
Avg. growth/yr (5Y)
+16.1%
Avg. growth/yr (20Y)
+29.8%
Revenue +17.6%/yr
FY21 kr 1.4B
FY22 kr 1.5B
FY23 kr 1.8B
FY24 kr 2.2B
FY25 kr 2.7B
Net income −11.6%/yr
FY21 kr 2.7B
FY22 kr 2.0B
FY23 kr 986M
FY24 kr 1.1B
FY25 kr 1.6B

CATE screens 26% overvalued. Compare with Swiss Prime Site AG →

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Cite: Fair Value Calculator (2026). "Catena AB Fair Value". https://www.fairvalue-calculator.com/stock/CATE

Peer Group

Real Estate - Diversified · 138 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 40 · Bottom 25%
Fair Value upside −26% · Below median
Return on equity (TTM) 9% · Top 25%
Return on assets 3% · Top 25%
Net margin (TTM) 75% · Top 25%
Operating margin (TTM) 85% · Top 25%
Revenue growth 26% · Top 25%
Dividend yield (TTM) 2.3% · Above median
Debt / equity 0.63× · Higher than median

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

P/E (TTM) 12.0× · Pricier than median
P/B 1.14× · Pricier than 75% of peers
P/S (TTM) 9.51× · Pricier than 75% of peers
P/FCF 1.8× · Cheaper than median
EV/EBITDA 18.1× · Pricier than median
PEG 9.17× · Pricier than 75% of peers

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 46
FUTURE 100 · sector 33
PAST 34 · sector 17
HEALTH 68 · sector 75
DIVIDEND 46 · sector 45

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

Insider activity: 40/100

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.

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10 more Real Estate - Diversified stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

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Frequently asked questions

Is Catena AB (CATE) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of kr 298.00 versus a price of kr 403.40, about −26% (overvalued).
What is the fair value of CATE?
Our model-based fair value for Catena AB is kr 298.00 (as of Jul 14, 2026), built from audited fundamentals. The current price is kr 403.40.
What is the quality score of CATE?
Catena AB has a Quality Score of 38/100. 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 Catena AB (CATE)?
Catena AB reported trailing-twelve-month revenue of about 2.7B SEK (latest available figure, as of Jul 14, 2026).
What is the net profit margin of CATE?
The net profit margin of Catena AB is about 62.3%, meaning it keeps roughly 62.3% of revenue as net income. Based on the latest reported figures.
Does Catena AB pay a dividend?
Catena AB currently shows a dividend yield of about 2.29% relative to its recent price (as of Jul 14, 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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