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Enity Holding AB (publ) (ENITY) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Enity Holding AB (publ) SEK 83.38, price SEK 75.20, upside +10.9%, quality 46 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Financial Services · SE · ISIN SE0025011554

EH Some data Sep 24, 2026

Enity Holding AB (publ)

ENITY · ST

Low PriorityFair Value upside is limited and quality is weak.

·Fair value kr 83.38 · Fairly valued (+11%)
!Quality 46/100
!Expensive Growth (revenue 3y +13.0 %/yr)
✓Highly profitable · 30.0% net margin (TTM)
!negative free cash flow
·1.86% dividend yield
!Mixed vs. peers (5/11)
!Moderate moat 63/100
!Insider activity 40/100
!Evidence only medium, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

kr 112.24 kr 67.00 Fair Value kr 83.38 Jun 2025 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

15‑month range kr 67.00 – kr 112.24 · fair‑value band kr 83.38 – kr 99.81 · the kr 75.20 price screens below the kr 83.38 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Enity Holding AB (publ) operates as a mortgage bank to individuals and communities in Sweden, Norway, and Finland. The company cloud-based technology platform. It also offers mortgage products that include first and second charge mortgages and equity release loans, as well as savings accounts and deposit products.

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Enity Holding AB (publ) operates as a mortgage bank to individuals and communities in Sweden, Norway, and Finland. The company cloud-based technology platform. It also offers mortgage products that include first and second charge mortgages and equity release loans, as well as savings accounts and deposit products. The company was formerly known as Bluestep Bank AB (publ) and changed its name to Enity Holding AB (publ) in December 2024. Enity Holding AB (publ) was incorporated in 2004 and is headquartered in Stockholm, Sweden.

Stock analysis

Enity Holding AB (publ) (ENITY) currently trades at kr 75.20, while our model-based Fair Value estimate is kr 83.38, implying the stock looks roughly 9.8% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of kr 341.90 per share, and 7 of the 7 models we run sit above the kr 75.20 price.

Bear case: the Asset-Based group reads lowest at kr 77.39, and 0 of the 7 models stay below the price. Evidence for this calculation is medium.

Scenario range: kr 83.38 (bear) to kr 99.81 (bull), the price of kr 75.20 sits below 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 46/100 (below-average quality), in the Financial Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Enity Holding AB (publ) reported revenue of 1.3B SEK in FY2025 versus 906M SEK in FY2022, a compound +13.0%/yr. Reported net income was 307M SEK in FY2025, compounding +13.5%/yr from FY2022.

Key figures

Market cap 3.8B SEK (≈ $379M) · P/E ratio 8.3 · P/S ratio 1.96 · EPS (TTM) kr 9.02 · Dividend yield 1.9% · Net margin 23.5% · Return on equity 7.8% · Return on assets 1.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 44 out of 100 (low confidence).

What moves the price

The share trades about 33% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at 17% fair-value upside, at 11%, ENITY screens richer than that median.

Fair Value models

Bear kr 83.38 Fair Value kr 83.38 Bull kr 99.81
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (kr 5.60 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. Evidence ⓘEvidence = 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.
Highest evidence
Residual Income kr 83.96 kr 83.38 kr 75.26 73
Owner Earnings kr 204.48 kr 341.90 kr 558.14 69
P/E Multiple kr 59.88 kr 79.85 kr 99.81 63
All 7 models by family
DCF Models
Owner Earnings kr 204.48 kr 341.90 kr 558.14 69
Earnings-Based
Graham-Dodd kr 41.77 kr 207.43 kr 286.14 61
Lynch FV kr 55.98 kr 79.97 kr 103.96 58
Multiples
P/E Multiple kr 59.88 kr 79.85 kr 99.81 63
P/B Multiple kr 78.31 kr 104.41 kr 130.52 55
Asset-Based
NCAV (Graham) kr 57.76 kr 77.39 kr 115.51 51
Economic Profit
Residual Income kr 83.96 kr 83.38 kr 75.26 73

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Quality Score breakdown

Overall quality 46/100

Of which business quality 34 · Market factors (momentum, volatility) 32

Profitability 37
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 6
Balance sheet, leverage, solvency risk
Investment 63
Disciplined investing over empire-building
Low Volatility 34
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 19
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 61/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+12.3%
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.
+13.0%
What shareholders gained per year (last 3 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 3 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.
+16.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+14.4%
Dividend (yield on the price)1.9%

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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.Mortgage Finance · 93 stocks

Beats the industry median on 5/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 41 · Bottom 25%
Fair Value upside +9% · Above median
Profitability
Return on equity (TTM) 8% · Below median
Return on assets 1% · Above median
Net margin (TTM) 30% · Below median
Operating margin (TTM) 44% · Below median
Growth and dividend
Revenue growth 66% · Top 25%
Dividend yield (TTM) 1.9% · Below median

Valuation Multiplesvs Mortgage Finance median · lower = cheaper

P/E (TTM) 8.3× · Cheaper than median
P/B 0.66× · Cheaper than median
P/S (TTM) 2.61× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)48 · sector 8
FUTURE (revenue growth)100 · sector 100
PAST (return on equity)31 · sector 42
HEALTH (low debt)0 · sector 25
DIVIDEND (yield)37 · sector 98

Context: sector, industry, market

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 Mortgage Finance stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Federal Home Loan Mortgage Corporation FMCCT $12.00 $24.00 +100%
Rocket Companies, Inc RKT $12.15 $3.23 −73%
Federal National Mortgage Association FNMAS $8.25 $2.01 −76%
Bajaj Housing Finance Limited BAJAJHFL ₹83.52 ₹24.32 −71%
PennyMac Financial Services, Inc PFSI $66.96 $125.45 +87%
UWM Holdings UWMC $1.26 $0.2100 −83%
LIC Housing Finance Limited LICHSGFIN ₹572.50 ₹1,145 +100%
PNB Housing Finance Limited PNBHOUSING ₹1,139 ₹1,330 +17%
Aadhar Housing Finance Limited AADHARHFC ₹454.55 ₹584.64 +29%
Walker & Dunlop, Inc WD $38.32 $32.25 −16%

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Enity Holding AB (publ) · Fair Value
kr 83.38 +10%Fair Value
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Cite: Fair Value Calculator (2026). "Enity Holding AB (publ) Fair Value". https://www.fairvalue-calculator.com/stock/ENITY

Frequently asked questions

Is Enity Holding AB (publ) (ENITY) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 83.38 versus a price of kr 75.20, about +11% upside (undervalued).
What is the fair value of ENITY?
Our model-based fair value for Enity Holding AB (publ) is kr 83.38 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 75.20.
What is the quality score of ENITY?
Enity Holding AB (publ) has a Quality Score of 46/100. 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 Enity Holding AB (publ) (ENITY)?
Our model-based price target is the fair value of kr 83.38 (as of Sep 24, 2026) from 7 valuation models. Cautious scenario kr 83.38, optimistic scenario kr 99.81. It is a calculation from audited fundamentals, not an analyst target.
What is the Enity Holding AB (publ) stock forecast for 2026?
Our models put fair value at kr 83.38, about +11% upside versus a price of kr 75.20 (undervalued). Cautious scenario kr 83.38, optimistic scenario kr 99.81. The calculation is refreshed regularly with new filings.
What is the revenue of Enity Holding AB (publ) (ENITY)?
Enity Holding AB (publ) reported trailing-twelve-month revenue of about 1.5B SEK (latest available figure, as of Sep 24, 2026).
Does Enity Holding AB (publ) pay a dividend?
Enity Holding AB (publ) currently shows a dividend yield of about 1.86% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Enity Holding AB (publ) (ENITY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Enity Holding AB (publ) it is kr 83.38 per share (as of Sep 24, 2026), against a price of kr 75.20. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is Enity Holding AB (publ) stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ENITY trades below its calculated fair value: price kr 75.20, fair value kr 83.38, a gap of about +11% (undervalued). 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 ENITY?
No. The price is what the market pays today (kr 75.20); the fair value is what the company's own numbers justify (kr 83.38). For Enity Holding AB (publ) the two are kr 8.18 per share apart. That gap is exactly why we show both numbers side by side.
How much is Enity Holding AB (publ) worth?
The market values Enity Holding AB (publ) at about 3.8B SEK (market capitalisation, as of Sep 24, 2026). Per share that is kr 75.20; our models calculate a fair value of kr 83.38 per share.
What do the bullish and bearish scenarios say about ENITY?
Our models span a range for Enity Holding AB (publ): cautious scenario kr 83.38, base kr 83.38, optimistic kr 99.81 per share (as of Sep 24, 2026, price kr 75.20). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ENITY?
Enity Holding AB (publ) trades at a price-to-earnings ratio of 8.3 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 83.38 is built from several models across several years. Other multiples: P/B 0.7, P/S 2.6.
How solid is the balance sheet of Enity Holding AB (publ) (ENITY)?
Balance-sheet figures for Enity Holding AB (publ) (as of Sep 24, 2026): return on equity 7.8%. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is ENITY from its 52-week high?
Enity Holding AB (publ) trades at kr 75.20, about 33% below its 52-week high of kr 112.24 and 12% above the low of kr 67.00 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of kr 83.38 is for.
Which stocks are comparable to Enity Holding AB (publ)?
From the same area (Financial Services) we also value Federal Home Loan Mortgage Corporation, Rocket Companies, Inc, Federal National Mortgage Association, Bajaj Housing Finance 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 Enity Holding AB (publ) stock attractive at the current price?
The data as of Sep 24, 2026: price kr 75.20, calculated fair value kr 83.38 (+11%), Quality Score 46/100, from 7 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 ENITY calculated?
We run Enity Holding AB (publ) through 7 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 83.38, 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. Enity Holding AB (publ) currently trades 11 % below its own fair value, and the market average says nothing about that. 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 Enity Holding AB (publ) (ENITY)?
The closing price on Sep 24, 2026 was kr 75.20. Our model-based fair value is kr 83.38, about +11% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Enity Holding AB (publ) right now?
The price is below even our cautious bear case (kr 83.38). The market is more pessimistic than our downside scenario. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of Enity Holding AB (publ)

How large is the market capitalisation of Enity Holding AB (publ) (ENITY)?
The market capitalisation of Enity Holding AB (publ) is 3.8B SEK (≈ $379M). 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 Enity Holding AB (publ) (ENITY)?
The price-to-sales ratio of Enity Holding AB (publ) is 1.96 (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 Enity Holding AB (publ) (ENITY)?
Earnings per share at Enity Holding AB (publ) are kr 9.02 (price ÷ EPS = P/E 8.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Enity Holding AB (publ) (ENITY)?
The dividend yield of Enity Holding AB (publ) is 1.9% (payout 15.5%). 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 Enity Holding AB (publ) (ENITY)?
The net margin of Enity Holding AB (publ) is 23.5% (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 Enity Holding AB (publ) (ENITY)?
The return on equity (ROE) of Enity Holding AB (publ) is 7.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the return on assets of Enity Holding AB (publ) (ENITY)?
The return on assets (ROA) of Enity Holding AB (publ) is 1.2% (last twelve months). Profit relative to everything the company owns. Harder to inflate than return on equity because debt does not boost it.
What is the operating margin of Enity Holding AB (publ) (ENITY)?
The operating margin of Enity Holding AB (publ) is 43.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Enity Holding AB (publ) (ENITY)?
Revenue at Enity Holding AB (publ) is growing +66.4% versus a year earlier (3y avg +13.0%). 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 Enity Holding AB (publ) (ENITY)?
Earnings per share at Enity Holding AB (publ) are growing +268% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Enity Holding AB (publ) (ENITY) generate?
The free cash flow of Enity Holding AB (publ) is −146M SEK (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Enity Holding AB (publ) (ENITY) carry?
The net debt of Enity Holding AB (publ) is 6.9B SEK (fiscal year 2025). 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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