Eastnine AB (publ) (EAST) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Eastnine AB (publ) stock SEK 35.09, price SEK 44.08, that is 20.4% below the price, quality 60 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 8, 2026.
How to read this chart
60‑month range kr 17.67 – kr 50.82 · fair‑value band kr 32.24 – kr 53.87 · the kr 44.08 price screens above the kr 35.09 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Eastnine AB (publ) is a real estate investment firm. The firm seeks to make emerging growth investments. In the beginning of 2017 it shifted its focus from both public and unlisted equity investments to purely real estate, where it makes investments in direct and fund of fund stages.
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It may also invest in special situations on a selective basis. The firm invests in real estate sectors only. For real estate sector, it can also invest in land, real property, modern and sustainable office, logistics premises and other real estate assets.
It primarily invests in Eastern Europe, Russia, Poland and other CIS countries including Ukraine, Kazakhstan, Belarus, Uzbekistan, Turkmenistan, Azerbaijan, Georgia, Armenia, Kyrgyzstan, Tajikistan, and Moldova; the Balkans; the Baltic States; and Central Europe.
The firm can also make investments into future East Capital private equity funds and real estate funds as well as in existing and future East Capital alternative funds. It also has the possibility to make limited investments in East Capital's open-ended daily-traded funds.
The firm is a long term active investor. The firm makes balance sheet investments. Eastnine AB (publ), formerly know as East Capital Explorer AB. was founded in November 2007 and is based in Stockholm, Sweden with additional office in Tallinn, Estonia, Vilnius, Lithuania, Riga, Latvia.
Stock analysis
Eastnine AB (publ) (EAST) currently trades at kr 44.08, while our model-based Fair Value estimate is kr 35.09, 20% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of kr 65.65 per share, and 5 of the 12 models we run sit above the kr 44.08 price.
Bear case: the Growth DCF group reads lowest at kr 3.67, and 7 of the 12 models stay below the price. Data coverage for this calculation is high.
Scenario range: kr 32.24 (bear) to kr 53.87 (bull), the price of kr 44.08 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 60/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Eastnine AB (publ) reported revenue of €58.6M in FY2025 versus €21.5M in FY2021, a compound +28.5%/yr. Reported net income was €42.5M in FY2025, compounding −12.4%/yr from FY2021.
Key figures
Market cap 4.3B SEK (≈ $438M) Small · P/E ratio 12.6 · P/S ratio 9.11 · EPS (TTM) kr 3.51 · Dividend yield 0.3% · Net margin 72.5% · Return on equity 6.5% · Return on assets (EBIT) 3.9% (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 13% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −16% fair-value upside, at −20%, EAST screens richer than that median.
Fair Value models
Bearkr 32.24Fair Value kr 35.09Bullkr 53.87
Price kr 44.08 · Downside -20.4%
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 2.91 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.70/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+41.2%
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.
+24.6%
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.
+25.0%
Start year 2020 (pandemic)
’13
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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.
+0.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.5%
Dividend (yield on the price)0.3%
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.0.5% vs 16.7%, 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.82% → 91%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+52.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +49.0% a year for the price.
Price, fair value, quality and upside side by side.
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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 Services · 472 stocks
Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside−20.4% · Below median
Profitability
Return on equity (12 months)6.5% · Above median
Return on assets4.1% · Above median
Net margin (12 months)50.0% · Top 25%
Operating margin (12 months)82.3% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−0.5% · Below median
Dividend yield (12 months)0.3% · Bottom 25%
Balance sheet
Debt / equity1.04× · Highest 25%
Valuation Multiplesvs Real Estate Services median · lower = cheaper
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). "Eastnine AB (publ) Fair Value". https://www.fairvalue-calculator.com/stock/EAST
Frequently asked questions
Is Eastnine AB (publ) (EAST) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of kr 35.09 versus a price of kr 44.08, about 20% lower (overvalued).
What is the fair value of EAST?
Our model-based fair value for Eastnine AB (publ) is kr 35.09 (as of Nov 8, 2026), built from audited fundamentals. The current price: kr 44.08.
What is the quality score of EAST?
Eastnine AB (publ) has a Quality Score of 60/100. 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 Eastnine AB (publ) (EAST)?
Our model-based price target is the fair value of kr 35.09 (as of Nov 8, 2026) from 16 valuation models. Cautious scenario kr 32.24, optimistic scenario kr 53.87. It is a calculation from audited fundamentals, not an analyst target.
What is the Eastnine AB (publ) stock forecast for 2026?
Our models put fair value at kr 35.09, about 20% lower versus a price of kr 44.08 (overvalued). Cautious scenario kr 32.24, optimistic scenario kr 53.87. The calculation is refreshed regularly with new filings.
What is the revenue of Eastnine AB (publ) (EAST)?
Eastnine AB (publ) reported trailing-twelve-month revenue of about €61.6M (latest available figure, as of Nov 8, 2026).
Does Eastnine AB (publ) pay a dividend?
Eastnine AB (publ) currently shows a dividend yield of 0.27% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Eastnine AB (publ) (EAST) and when is the ex-dividend date?
Eastnine AB (publ) pays a dividend of kr 0.118 per share a year, a dividend yield of 0.3%. The last ex-dividend date was Nov 9, 2026. A dividend has been paid every year since 2016. The payout ratio is 6.3% of earnings. Free cash flow covers the dividend 2.01 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 Eastnine AB (publ) (EAST)?
For today's price to be fair in a discounted-cash-flow model, Eastnine AB (publ) would have to grow free cash flow by +52.2 % per year for five years (discount rate 10.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +25.0 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of EAST use?
Our models discount Eastnine AB (publ) at 10.2 %: a base by market capitalisation (small), damped by beta 0.71, 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 Eastnine AB (publ) that is +52.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.2 %) and the same formula as our fair value.
How much growth has Eastnine AB (publ) (EAST) delivered so far?
Over the past 5 years revenue at Eastnine AB (publ) grew +25.0 % a year. The price currently implies free-cash-flow growth of +52.2 % 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 Eastnine AB (publ) (EAST) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into Eastnine AB (publ) (+52.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Eastnine AB (publ) (EAST)?
The free-cash-flow yield on the price is 1.37 %: that much free cash flow Eastnine AB (publ) produces per unit of market value. When it exceeds the discount rate of our models (10.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Eastnine AB (publ) (EAST)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Eastnine AB (publ) it is kr 35.09 per share (as of Nov 8, 2026), against a price of kr 44.08. It is the blended result of 16 valuation models in 6 families (DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Eastnine AB (publ) stock overvalued or undervalued in 2026?
As of Nov 8, 2026, EAST trades above its calculated fair value: price kr 44.08, fair value kr 35.09, a gap of about −20% (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 EAST?
No. The price is what the market pays today (kr 44.08); the fair value is what the company's own numbers justify (kr 35.09). For Eastnine AB (publ) the two are kr 8.99 per share apart. That gap is exactly why we show both numbers side by side.
How much is Eastnine AB (publ) worth?
The market values Eastnine AB (publ) at about 4.3B SEK (market capitalisation, as of Nov 8, 2026). Per share that is kr 44.08; our models calculate a fair value of kr 35.09 per share.
What do the bullish and bearish scenarios say about EAST?
Our models span a range for Eastnine AB (publ): cautious scenario kr 32.24, base kr 35.09, optimistic kr 53.87 per share (as of Nov 8, 2026, price kr 44.08). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of EAST?
Eastnine AB (publ) trades at a price-to-earnings ratio of 12.6 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 35.09 is built from several models across several years. Other multiples: P/B 0.8, P/S 6.4, EV/EBITDA 16.2.
How solid is the balance sheet of Eastnine AB (publ) (EAST)?
Balance-sheet figures for Eastnine AB (publ) (as of Nov 8, 2026): return on equity 6.5%, debt of 1.04 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is EAST from its 52-week high?
Eastnine AB (publ) trades at kr 44.08, about 13% below its 52-week high of kr 50.82 and 8% above the low of kr 41.00 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 35.09 is for.
Which stocks are comparable to Eastnine AB (publ)?
From the same area (Real Estate) we also value CBRE Group, Cellnex Telecom, S.A, KE Holdings, Swire Properties Limited, 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 Eastnine AB (publ) stock attractive at the current price?
The data as of Nov 8, 2026: price kr 44.08, calculated fair value kr 35.09 (−20%), Quality Score 60/100, 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 EAST calculated?
We run Eastnine AB (publ) 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 35.09 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 13.3% above its aggregate fair value. Eastnine AB (publ) 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 Eastnine AB (publ) (EAST)?
The closing price on Nov 6, 2026 was kr 44.08. Our model-based fair value is kr 35.09, about 20% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Eastnine AB (publ) right now?
Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of Eastnine AB (publ) (EAST) come from?
Earnings per share at Eastnine AB (publ) grew +12.3 % a year from 2015 to 2025. Broken into its drivers: revenue per share +19.0 %, EBIT margin +1.2 %, tax rate +4.2 %, residual (interest, one-offs) −10.5 %. 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 Eastnine AB (publ)
How large is the market capitalisation of Eastnine AB (publ) (EAST)?
The market capitalisation of Eastnine AB (publ) is 4.3B SEK (≈ $438M). 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 Eastnine AB (publ) (EAST)?
The price-to-sales ratio of Eastnine AB (publ) is 9.11 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Eastnine AB (publ) (EAST)?
Earnings per share at Eastnine AB (publ) are kr 3.51 (price ÷ EPS = P/E 12.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Eastnine AB (publ) (EAST)?
The dividend yield of Eastnine AB (publ) is 0.3% (payout 3.4%). 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 Eastnine AB (publ) (EAST)?
The net margin of Eastnine AB (publ) is 72.5% (fiscal year 2025). 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 Eastnine AB (publ) (EAST)?
The return on equity (ROE) of Eastnine AB (publ) is 6.5% (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 Eastnine AB (publ) (EAST)?
On an EBIT basis the return on assets of Eastnine AB (publ) is 3.9% (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 Eastnine AB (publ) (EAST)?
The operating margin of Eastnine AB (publ) is 82.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Eastnine AB (publ) (EAST)?
Revenue at Eastnine AB (publ) is growing −0.5% versus a year earlier (3y avg +24.6%). 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 Eastnine AB (publ) (EAST)?
Earnings per share at Eastnine AB (publ) are growing +41.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Eastnine AB (publ) (EAST) carry?
The net debt of Eastnine AB (publ) is €462M (fiscal year 2025, ≈ 86.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 8, 2026