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Fastighetsbolaget Emilshus AB (EMIL-B) Fair Value & Analysis

Real Estate · SE · Market cap 6.7B SEK (≈ $701M) · ISIN SE0016785786

What is Fastighetsbolaget Emilshus AB really worth?

FE Fastighetsbolaget Emilshus AB EMIL-B · ST
Pricekr 51.60
Fair Valuekr 42.85
Upside−17.0%
Quality39/100

Below-average quality, and trading another 20% above our fair value of kr 42.85.

As of Aug 23, 2026, the fair value of Fastighetsbolaget Emilshus AB is kr 42.85 per share against a price of kr 51.60, so the fair value sits 17% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Highly profitable · 59.1% net margin
Moderate debt · generates free cash flow
Wide moat 69/100

Risks

!Expensive Growth (revenue 5y +37.5 %/yr)
!Mixed vs. peers (6/14)
!Evidence only medium, so the estimate is less certain
!Weak on valuation: 11 out of 100
Evidence: Medium Range kr 32.14 – kr 56.46

Fair value as of: Aug 23, 2026

From 14 valuation models · updated 13 days ago

Share price +0.8% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Price vs Fair Value (4 years)

kr 58.60 kr 21.71 Fair Value kr 42.85 Jun 2022 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 23, 2026.

How to read this chart

51‑month range kr 21.71 – kr 58.60 · fair‑value band kr 32.14 – kr 56.46 · the kr 51.60 price screens above the kr 42.85 fair value. Dashed = 300-day average. As of Aug 23, 2026.

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Analysis

Fastighetsbolaget Emilshus AB (EMIL-B) currently trades at kr 51.60, while our model-based Fair Value estimate is kr 42.85, implying the stock looks roughly 20.4% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Real Estate sector. Bull case: the DCF Models group reads highest at a median of kr 55.08 per share, and 6 of the 14 models we run sit above the kr 51.60 price. Bear case: the Asset-Based group reads lowest at kr 29.66, and 8 of the 14 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Fastighetsbolaget Emilshus AB generated revenue of 965M SEK at a net margin of 58.3%. Revenue grew 34.2% year over year. It earns a return on equity of 11.8%. Net debt stands at 6.6B SEK. Fundamentals as of Aug 23, 2026

Our scenario range runs from kr 32.14 (bear case) to kr 56.46 (bull case); at kr 51.60, 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 13% below its 52-week high and 14% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −23% fair-value upside, at −17%, EMIL-B screens cheaper 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 2.91 per share, which is 6.8 % 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.

Model 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. Evidence
Highest evidence
Residual Income best evidence kr 38.55 kr 42.81 kr 67.90 73
5Y Revenue Exit kr 28.63 kr 99.08 67
Rev-Margin DCF kr 40.21 kr 124.83 67
All 14 models by family
DCF Models
FCF DCF kr 6.77 kr 38.41 kr 137.09 66
5Y Revenue Exit kr 28.63 kr 99.08 67
5Y EBITDA Exit kr 19.44 kr 78.14 kr 193.39 64
10Y Revenue Exit kr 55.08 kr 91.20 62
10Y EBITDA Exit kr 16.69 kr 106.60 kr 265.25 57
Multiples
P/S Multiple kr 37.81 kr 50.41 kr 63.01 58
P/B Multiple kr 57.83 kr 77.10 kr 96.38 55
EV/EBIT kr 43.66 kr 75.51 kr 107.36 64
EV/EBITDA kr 22.00 kr 46.63 kr 71.26 64
EV/Revenue kr 2.41 kr 18.69 50
Asset-Based
NCAV (Graham) kr 22.13 kr 29.66 kr 44.26 54
Growth DCF
Growth DCF kr 3.19 kr 52.95 kr 133.11 65
Rev-Margin DCF kr 40.21 kr 124.83 67
Economic Profit
Residual Income best evidence kr 38.55 kr 42.81 kr 67.90 73

Widest divergence: DCF Models (kr 55.08) versus Asset-Based (kr 29.66). Highest evidence: Residual Income (73).

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Key figures & financial health

P/E ratio 13.5 as of Jun 8, 2026
P/S ratio 7.89 P/E × margin
EPS (TTM) kr 4.01 price ÷ EPS = P/E 13.5
Net margin 58.5% FY2025
Return on equity 11.8% TTM
Return on assets (EBIT) 3.4% avg 5y
More key figures
Profitability
Operating margin 70.5% TTM
Growth
Revenue (TTM) 965M SEK TTM
Revenue growth (YoY) +34.2% 3y avg +25.4%
EPS growth (YoY) +11.7%
Balance sheet & cash flow
Free cash flow 426M SEK FY2025
Net debt 6.6B SEK FY2025 · ≈ 15.4 yrs of FCF

Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 39/100

Of which business quality 38 · Market factors (momentum, volatility) 47

Profitability 39
Margins and returns on capital today
Quality Growth 70
Are margins and returns improving?
Cashflow 55
Earnings quality: real cash, not paper profit
Fin. Strength 29
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 43
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.

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

Fastighetsbolaget Emilshus AB (publ) acquires, develops, and manages commercial real estate properties in Sweden. The company offers its properties for light industry, warehouse, industrial service/professional trade, external and grocery trade, and community service and offices.

Full company description

Fastighetsbolaget Emilshus AB (publ) acquires, develops, and manages commercial real estate properties in Sweden. The company offers its properties for light industry, warehouse, industrial service/professional trade, external and grocery trade, and community service and offices. Fastighetsbolaget Emilshus AB (publ) was incorporated in 2018 and is headquartered in Växjö, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Fastighetsbolaget Emilshus AB reported revenue of 896M SEK in FY2025 versus 280M SEK in FY2021, a compound +33.7%/yr. Reported net income was 524M SEK in FY2025, compounding +2.8%/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)
896M SEK
Latest YoY
+32.7%
Avg. revenue growth/yr (3Y) 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.
+25.4%
Avg. revenue growth/yr (5Y) 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.
+37.5%
Avg. revenue growth/yr (6Y) 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.
+46.7%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
≈ +10.7% (approximate, leans on 2025) · in SEK
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+10.7%
Dividend yield0.0%
Operating margin (EBIT) 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.146.5% (2020) → 74.7% (2025) · falling
Worst earnings drop96% (2023) · in SEK
⚠ Rate leans on 2025: that final year sits 56% above its own trend (e.g. a one-off disposal gain) and could not be adjusted
Revenue +33.7%/yr
FY21 280M SEK
FY22 455M SEK
FY23 588M SEK
FY24 675M SEK
FY25 896M SEK
Net income +2.8%/yr
FY21 469M SEK
FY22 311M SEK
FY23 33.2M SEK
FY24 288M SEK
FY25 524M SEK

EMIL-B screens 20% overvalued. Compare with CBRE Group →

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Cite: Fair Value Calculator (2026). "Fastighetsbolaget Emilshus AB Fair Value". https://www.fairvalue-calculator.com/stock/EMIL-B

Peer Group

Real Estate Services · 523 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 −17% · Below median
Return on equity (TTM) 12% · Top 25%
Return on assets 4% · Top 25%
Net margin (TTM) 59% · Top 25%
Operating margin (TTM) 76% · Top 25%
Revenue growth 29% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 1.22× · Higher than 75% of peers

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 13.5× · Pricier than median
P/B 1.31× · Pricier than median
P/S (TTM) 6.53× · Pricier than 75% of peers
P/FCF 1.6× · Cheaper than median
EV/EBITDA 25.0× · Pricier than 75% of peers

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE11 · sector 30
FUTURE100 · sector 11
PAST46 · sector 17
HEALTH39 · sector 84
DIVIDEND0 · sector 63

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

Similar stocks

10 more Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).

Stock Price Fair Value vs Fair Value
CBRE Group CBRE $148.74 $69.47 −53%
Vonovia SE VNA €19.85 €36.67 +85%
Cellnex Telecom, S.A CLNX €27.47 €25.46 −7%
KE Holdings BEKE $17.42 $6.57 −62%
Jones Lang LaSalle Incorporated JLL $378.01 $290.25 −23%
Swire Properties Limited 1972 HK$24.84 HK$5.12 −79%
CoStar Group CSGP $32.22 $4.64 −86%
China Resources Mixc Lifestyle Services Limited 1209 HK$39.84 HK$34.95 −12%
CapitaLand Investment Limited 9CI 2.66 SGD 0.4900 SGD −82%
Plaza S.A MALLPLAZA 4,040 CLP 4,571 CLP +13%

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Frequently asked questions

Is Fastighetsbolaget Emilshus AB (EMIL-B) overvalued or undervalued?
As of Aug 23, 2026, our model estimates a fair value of kr 42.85 versus a price of kr 51.60, about −17% upside (overvalued).
What is the fair value of EMIL-B?
Our model-based fair value for Fastighetsbolaget Emilshus AB is kr 42.85 (as of Aug 23, 2026), built from audited fundamentals. The current price: kr 51.60.
What is the quality score of EMIL-B?
Fastighetsbolaget Emilshus 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 Fastighetsbolaget Emilshus AB (EMIL-B)?
Fastighetsbolaget Emilshus AB reported trailing-twelve-month revenue of about 965M SEK (latest available figure, as of Aug 23, 2026).
What is the net profit margin of EMIL-B?
The net profit margin of Fastighetsbolaget Emilshus AB is about 58.3%, meaning it keeps roughly 58.3% of revenue as net income. Based on the latest reported figures.
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