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Cibus Nordic Real Estate AB (CIBUS) Fair Value & Analysis

Real Estate · SE · Market cap 12.0B SEK

CN Cibus Nordic Real Estate AB CIBUS · ST
Pricekr 143.85
Fair Valuekr 180.71
Upside+25.6%
Quality39/100
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Expensive Growth
Highly profitable · 43.5% net margin
High debt · generates free cash flow
0.61% dividend yield
Mixed vs. peers (7/15)
Wide moat 67/100
Evidence: High Range kr 96.22 – kr 225.89 Share as image

Fair value as of: Jul 11, 2026

From 13 valuation models · updated 29 days ago

Share price −1.1% over the past month.

Below-average quality, screening 26% undervalued on our models.

What matters now

  • A fairly wide model range (kr 96.22 to kr 225.89) 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 210.88 kr 77.01 Fair Value kr 180.71 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.

How to read this chart

60‑month range kr 77.01 – kr 210.88 · fair‑value band kr 96.22 – kr 225.89 · the kr 143.85 price screens below the kr 180.71 fair value. Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

Cibus Nordic Real Estate AB (CIBUS) currently trades at kr 143.85, while our model-based Fair Value estimate is kr 180.71, implying the stock looks roughly 25.6% undervalued today. The Quality Score stands at 39/100 (below-average quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Cibus Nordic Real Estate AB generated revenue of 196M SEK at a net margin of 43.5%. Revenue grew 39.8% year over year. It earns a return on equity of 8.4%. Net debt stands at 1.6B SEK. Fundamentals as of Jul 11, 2026

Our scenario range runs from kr 96.22 (bear case) to kr 225.89 (bull case); at kr 143.85, 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 20% below its 52-week high and 9% above its 52-week low, 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%, CIBUS 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 7.20 kr 28.52 kr 71.60 80
Residual Income kr 10.42 kr 11.47 kr 17.04 76
P/S Multiple kr 11.42 kr 15.23 kr 19.04 58
All 13 models by family
DCF Models
FCF DCF kr 8.77 kr 23.88 kr 72.00 38
5Y Revenue Exit kr 9.71 kr 32.17 39
5Y EBITDA Exit kr 6.30 kr 25.04 kr 61.39 41
10Y Revenue Exit kr 1.36 kr 20.58 kr 33.19 36
10Y EBITDA Exit kr 7.32 kr 36.47 kr 89.66 37
Multiples
P/S Multiple kr 11.42 kr 15.23 kr 19.04 58
P/B Multiple kr 14.46 kr 19.28 kr 24.10 55
EV/EBIT kr 11.29 kr 20.92 kr 30.54 53
EV/EBITDA kr 4.76 kr 12.21 kr 19.66 54
EV/Revenue kr 3.74 43
Asset-Based
NCAV (Graham) kr 6.02 kr 8.06 kr 12.03 50
Growth DCF
Growth DCF kr 7.20 kr 28.52 kr 71.60 80
Economic Profit
Residual Income kr 10.42 kr 11.47 kr 17.04 76

Widest divergence: Growth DCF (kr 28.52) versus Asset-Based (kr 8.06). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 196M SEK
Revenue growth (YoY) +39.8%
Net margin 43.5%
Return on equity 8.4%
Free cash flow 129M SEK FY2025
P/E ratio 13.3
More key figures
Operating margin 72.8%
EPS (TTM) kr 11.11
Dividend yield 0.6%
EPS growth (YoY) +982%
Net debt 1.6B SEK FY2025

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 39/100

Of which business quality 36 · Market factors (momentum, volatility) 42

Profitability 38
Margins and returns on capital today
Quality Growth 67
Are margins and returns improving?
Cashflow 55
Earnings quality: real cash, not paper profit
Fin. Strength 23
Balance sheet, leverage, solvency risk
Investment 26
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 24
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

Cibus Nordic Real Estate AB (publ) is a real estate company listed on Nasdaq Stockholm Mid Cap. The company's business idea is to acquire, develop and manage high-quality properties in Europe with grocery retail chains as anchor tenants. The company currently owns more than 670 properties in Europe.

Full company description

Cibus Nordic Real Estate AB (publ) is a real estate company listed on Nasdaq Stockholm Mid Cap. The company's business idea is to acquire, develop and manage high-quality properties in Europe with grocery retail chains as anchor tenants. The company currently owns more than 670 properties in Europe. The largest tenants are Kesko, Tokmanni, Coop, S Group, Rema 1000, Salling, Lidl, Dagrofa and Carrefour.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Cibus Nordic Real Estate AB reported revenue of kr 192M in FY2025 versus kr 93.8M in FY2021, a compound +19.7%/yr. Reported net income was kr 93.1M in FY2025, compounding +16.0%/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)
192M SEK
Latest YoY
+35.1%
Avg. growth/yr (3Y)
+15.8%
Avg. growth/yr (5Y)
+20.9%
Avg. growth/yr (8Y)
+34.9%
Revenue +19.7%/yr
FY21 kr 93.8M
FY22 kr 124M
FY23 kr 140M
FY24 kr 142M
FY25 kr 192M
Net income +16.0%/yr
FY21 kr 51.4M
FY22 kr 80.0M
FY23 −kr 19.9M
FY24 −kr 4.8M
FY25 kr 93.1M

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Cite: Fair Value Calculator (2026). "Cibus Nordic Real Estate AB Fair Value". https://www.fairvalue-calculator.com/stock/CIBUS

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 37 · Bottom 25%
Fair Value upside +26% · Above median
Return on equity (TTM) 8% · Top 25%
Return on assets 3% · Top 25%
Net margin (TTM) 44% · Top 25%
Operating margin (TTM) 73% · Top 25%
Revenue growth 40% · Top 25%
Dividend yield (TTM) 0.6% · Below median
Debt / equity 1.52× · Higher than 75% of peers

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

P/E (TTM) 12.9× · Pricier than median
P/B 1.28× · Pricier than 75% of peers
P/S (TTM) 6.47× · Pricier than 75% of peers
P/FCF 9.9× · Pricier than 75% of peers
EV/EBITDA 18.3× · Pricier than median
PEG 1.40× · Cheaper 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 67 · sector 46
FUTURE 100 · sector 33
PAST 34 · sector 17
HEALTH 24 · sector 75
DIVIDEND 12 · sector 45

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 11, 2026).

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Frequently asked questions

Is Cibus Nordic Real Estate AB (CIBUS) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of kr 180.71 versus a price of kr 143.85, about +26% (undervalued).
What is the fair value of CIBUS?
Our model-based fair value for Cibus Nordic Real Estate AB is kr 180.71 (as of Jul 11, 2026), built from audited fundamentals. The current price is kr 143.85.
What is the quality score of CIBUS?
Cibus Nordic Real Estate AB has a Quality Score of 39/100. 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 Cibus Nordic Real Estate AB (CIBUS)?
Cibus Nordic Real Estate AB reported trailing-twelve-month revenue of about 196M SEK (latest available figure, as of Jul 11, 2026).
What is the net profit margin of CIBUS?
The net profit margin of Cibus Nordic Real Estate AB is about 43.5%, meaning it keeps roughly 43.5% of revenue as net income. Based on the latest reported figures.
Does Cibus Nordic Real Estate AB pay a dividend?
Cibus Nordic Real Estate AB currently shows a dividend yield of about 0.61% relative to its recent price (as of Jul 11, 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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