Catena AB (CATE) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Catena AB stock SEK 293, price SEK 385, that is 24.0% below the price, quality 40 out of 100. Rating: overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range kr 273.27 – kr 553.35 · fair‑value band kr 138.53 – kr 421.08 · the kr 385.20 price screens above the kr 292.86 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 7, 2026.
Follow Catena in your weekly email
Every Wednesday you see whether Catena is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
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.
Show moreShow less
The company was founded in 1967 and is headquartered in Helsingborg, Sweden.
Stock analysis
Catena AB (CATE) currently trades at kr 385.20, while our model-based Fair Value estimate is kr 292.86, 24% below the price, so the stock looks overvalued today.
Show more
Valuation
Bull case: the DCF Models group reads highest at a median of kr 403.87 per share, and 5 of the 16 models we run sit above the kr 385.20 price.
Bear case: the Dividend Discount group reads lowest at kr 123.95, and 11 of the 16 models stay below the price. Data coverage for this calculation is high.
Scenario range: kr 138.53 (bear) to kr 421.08 (bull), the price of kr 385.20 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 40/100 (below-average quality), in the Real Estate sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Catena AB reported revenue of 2.7B SEK in FY2025 versus 1.4B SEK in FY2021, a compound +17.6%/yr. Reported net income was 1.6B SEK in FY2025, compounding −11.6%/yr from FY2021.
Key figures
Market cap 25.6B SEK (≈ $2.6B) Mid · P/E ratio 11.4 · P/S ratio 8.93 · EPS (TTM) kr 33.75 · Dividend yield 2.5% · Net margin 75.0% · Return on equity 8.5% · Return on assets (EBIT) 4.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 65 out of 100 (low confidence).
What moves the price
The share trades about 21% below its 52-week high and 19% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −51% fair-value upside, at −24%, CATE screens cheaper than that median.
Fair Value models
Bearkr 138.53Fair Value kr 292.86Bullkr 421.08
Price kr 385.20 · Downside -24.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 20.73 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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
+21.6%
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.
+20.0%
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.
+16.1%
Start year 2020 (pandemic). Over 10 years: +18.8% a year
Revenue growth 20 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.
+29.8%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
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.
+8.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.0%
Dividend (yield on the price)2.5%
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.−7.6% vs 7.3%, slowing
Profit margin 2020 to 2025 ⓘ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.79% → 81%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as 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).
+16.1%
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.
+11.0%
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 +13.9% a year for the price and +8.9% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (50 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Very negative
AI conclusion: The business shows strength in consistent rental income growth from its logistics properties yet remains limited by high leverage and weak returns on capital.
Main risk: High leverage exposes the firm to rising interest rates that would directly increase financing costs and reduce net rental income.
Catena keeps posting solid rental income gains from its logistics focus while expanding into Finland with recent acquisitions and new builds. At the same time it stresses financial discipline and a low leverage target even as interest rates rise. Does its Nordic platform capture more upside from tenant demand than it faces from higher financing costs?
Price, fair value, quality and upside side by side.
Free, no sign-up
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 - Diversified · 114 stocks
Beats the industry median on 5/15 measures
Overall it trails its industry peers.
Valuation
Quality Score40 · Bottom 25%
Fair Value upside−24.0% · Below median
Profitability
Return on equity (12 months)8.5% · Above median
Return on assets3.5% · Above median
Net margin (12 months)75.0% · Top 25%
Operating margin (12 months)84.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)25.5% · Top 25%
Dividend yield (12 months)2.5% · Below median
Balance sheet
Debt / equity0.63× · Above median
Valuation Multiplesvs Real Estate - Diversified median · lower = cheaper
P/E (12 months)11.4× · Pricier than median
P/B1.07× · Pricier than median
P/S (12 months)8.93× · Priciest 25%
Price / free cash flow (fiscal year)16.2× · Pricier than median
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). "Catena AB Fair Value". https://www.fairvalue-calculator.com/stock/CATE
Frequently asked questions
Is Catena AB (CATE) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of kr 292.86 versus a price of kr 385.20, about 24% lower (overvalued).
What is the fair value of CATE?
Our model-based fair value for Catena AB is kr 292.86 (as of Nov 7, 2026), built from audited fundamentals. The current price: kr 385.20.
What is the quality score of CATE?
Catena AB has a Quality Score of 40/100. 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 Catena AB (CATE)?
Our model-based price target is the fair value of kr 292.86 (as of Nov 7, 2026) from 16 valuation models. Cautious scenario kr 138.53, optimistic scenario kr 421.08. It is a calculation from audited fundamentals, not an analyst target.
What is the Catena AB stock forecast for 2026?
Our models put fair value at kr 292.86, about 24% lower versus a price of kr 385.20 (overvalued). Cautious scenario kr 138.53, optimistic scenario kr 421.08. The calculation is refreshed regularly with new filings.
What is the revenue of Catena AB (CATE)?
Catena AB reported trailing-twelve-month revenue of about 2.9B SEK (latest available figure, as of Nov 7, 2026).
Does Catena AB pay a dividend?
Catena AB currently shows a dividend yield of 2.47% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Catena AB (CATE) and when is the ex-dividend date?
Catena AB pays a dividend of kr 9.50 per share a year, a dividend yield of 2.5%. The last ex-dividend date was Oct 26, 2026. A dividend has been paid every year since at least 2007. The payout ratio is 36.1% of earnings (on adjusted earnings, reported 28.1%). Free cash flow covers the dividend 2.50 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Catena AB (CATE)?
For today's price to be fair in a discounted-cash-flow model, Catena AB would have to grow free cash flow by +16.1 % per year for five years (discount rate 10.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +16.1 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of CATE use?
Our models discount Catena AB at 10.0 %: a base by market capitalisation (mid), damped by beta 1.22, 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 Catena AB that is +16.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.0 %) and the same formula as our fair value.
How much growth has Catena AB (CATE) delivered so far?
Over the past 5 years revenue at Catena AB grew +16.1 % a year. The price currently implies free-cash-flow growth of +16.1 % per 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 Catena AB (CATE) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into Catena AB (+16.1 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Catena AB (CATE)?
The free-cash-flow yield on the price is 6.16 %: that much free cash flow Catena AB produces per unit of market value. When it exceeds the discount rate of our models (10.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Catena AB (CATE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Catena AB it is kr 292.86 per share (as of Nov 7, 2026), against a price of kr 385.20. It is the blended result of 16 valuation models in 6 families (DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Catena AB stock overvalued or undervalued in 2026?
As of Nov 7, 2026, CATE trades above its calculated fair value: price kr 385.20, fair value kr 292.86, a gap of about −24% (overvalued). 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 CATE?
No. The price is what the market pays today (kr 385.20); the fair value is what the company's own numbers justify (kr 292.86). For Catena AB the two are kr 92.34 per share apart. That gap is exactly why we show both numbers side by side.
How much is Catena AB worth?
The market values Catena AB at about 25.6B SEK (market capitalisation, as of Nov 7, 2026). Per share that is kr 385.20; our models calculate a fair value of kr 292.86 per share.
What do the bullish and bearish scenarios say about CATE?
Our models span a range for Catena AB: cautious scenario kr 138.53, base kr 292.86, optimistic kr 421.08 per share (as of Nov 7, 2026, price kr 385.20). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CATE?
Catena AB trades at a price-to-earnings ratio of 11.4 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 292.86 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 18.1 (reported for FY2025: 14.2). Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 11.3. Other multiples: PEG 9.2, P/B 1.1, P/S 8.9, EV/EBITDA 17.4.
What is the PEG ratio of CATE?
The PEG ratio of Catena AB is 9.17 (P/E divided by earnings growth, as of Nov 7, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Catena AB (CATE)?
Balance-sheet figures for Catena AB (as of Nov 7, 2026): return on equity 8.5%, debt of 0.63 per unit of equity. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is CATE from its 52-week high?
Catena AB trades at kr 385.20, about 21% below its 52-week high of kr 487.74 and 19% above the low of kr 324.83 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 292.86 is for.
Which stocks are comparable to Catena AB?
From the same area (Real Estate) we also value Swiss Prime Site AG, The Phoenix Mills Limited, Prestige Estates Projects Limited, Umm Al Qura for Development and Construction Company, 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 Catena AB stock attractive at the current price?
The data as of Nov 7, 2026: price kr 385.20, calculated fair value kr 292.86 (−24%), Quality Score 40/100, from 16 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 CATE calculated?
We run Catena AB through 16 models from 6 families: DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of kr 292.86 builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. Catena AB itself currently trades above fair value. 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 Catena AB (CATE)?
The closing price on Nov 6, 2026 was kr 385.20. Our model-based fair value is kr 292.86, about 24% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Catena AB right now?
Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (kr 138.53 to kr 421.08). The outcome hinges heavily on assumptions, so read the point estimate with caution. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of Catena AB (CATE) come from?
Earnings per share at Catena AB grew +4.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.9 %, EBIT margin +0.9 %, tax rate −1.4 %, residual (interest, one-offs) −2.5 %. 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 Catena AB
How large is the market capitalisation of Catena AB (CATE)?
The market capitalisation of Catena AB is 25.6B SEK (≈ $2.6B). 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 Catena AB (CATE)?
The price-to-sales ratio of Catena AB is 8.93 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Catena AB (CATE)?
Earnings per share at Catena AB are kr 33.75 (price ÷ EPS = P/E 11.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Catena AB (CATE)?
The dividend yield of Catena AB is 2.5% (payout 36.1%, on adjusted earnings, reported 28.1%). 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 Catena AB (CATE)?
The net margin of Catena AB is 75.0% (last twelve months), excl. one-off gain FY2025 48.1%. 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 Catena AB (CATE)?
The return on equity (ROE) of Catena AB is 8.5% (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 Catena AB (CATE)?
On an EBIT basis the return on assets of Catena AB is 4.1% (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 Catena AB (CATE)?
The operating margin of Catena AB is 84.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Catena AB (CATE)?
Revenue at Catena AB is growing +25.5% versus a year earlier (3y avg +20.0%). 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 Catena AB (CATE)?
Earnings per share at Catena AB are growing +164% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Catena AB (CATE) carry?
The net debt of Catena AB is 17.9B SEK (fiscal year 2025, ≈ 11.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Catena AB in the live analysis
One click puts Catena AB on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Broad data
Nov 7, 2026