Hufvudstaden AB (HUFV-A) Fair Value & Analysis
Real Estate · SE · Market cap 23.5B SEK (≈ $2.5B) · ISIN SE0000170375
What is Hufvudstaden AB really worth?
A solid business, but trading 57% above our fair value of kr 76.19.
Strengths
Risks
For context
Fair value as of: Aug 14, 2026
From 14 valuation models · updated 22 days ago
Fair value updated Aug 14, 2026, revised from kr 76.28 to kr 76.19 (−0.1%) since Jul 18, 2026. Share price −1.6% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (kr 95.36). The favourable scenario is already priced in.
- Solid but not exceptional quality (68/100) 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.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 14, 2026.
How to read this chart
60‑month range kr 101.17 – kr 153.01 · fair‑value band kr 57.15 – kr 95.36 · the kr 119.60 price screens above the kr 76.19 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 14, 2026.
Analysis
Hufvudstaden AB (HUFV-A) currently trades at kr 119.60, while our model-based Fair Value estimate is kr 76.19, implying the stock looks roughly 57.0% overvalued today. The Quality Score stands at 68/100 (solid quality), in the Real Estate sector. Bull case: the Economic Profit group reads highest at a median of kr 104.89 per share, and 1 of the 14 models we run sit above the kr 119.60 price. Bear case: the Growth DCF group reads lowest at kr 66.09, and 13 of the 14 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Hufvudstaden AB generated revenue of 3.3B SEK at a net margin of 31.8%. Revenue grew 0.6% year over year. It earns a return on equity of 3.8%. Net debt stands at 12.4B SEK. Fundamentals as of Aug 14, 2026
Our scenario range runs from kr 57.15 (bear case) to kr 95.36 (bull case); at kr 119.60, the current price sits above 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 7% below its 52-week high and 7% 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 −36%, HUFV-A screens richer 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 1.63 per share, which is 2.1 % 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.
All 14 models by family
Widest divergence: Economic Profit (kr 104.89) versus Growth DCF (kr 66.09). Highest evidence: FCF DCF (77).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 14, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 65 · Market factors (momentum, volatility) 50
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
Hufvudstaden AB (publ) engages in the ownership, development, and management of commercial properties in Sweden. The company offers office and retail properties, residential properties, restaurants, department stores, parking facilities, and shopping centers. It also owns properties with rentable floor spaces.
Full company description
Hufvudstaden AB (publ) engages in the ownership, development, and management of commercial properties in Sweden. The company offers office and retail properties, residential properties, restaurants, department stores, parking facilities, and shopping centers. It also owns properties with rentable floor spaces. The company operates primarily under the NK Retail, Bibliotekstan, Cecil Coworking, Fredstan, Femman, Kvarteret Johanna, Nordiska Kompaniet, REDO, Parkaden, and Nordstan brands. The company was founded in 1915 and is headquartered in Stockholm, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Hufvudstaden AB reported revenue of 3.3B SEK in FY2025 versus 2.6B SEK in FY2021, a compound +5.7%/yr. Reported net income was 837M SEK in FY2025, compounding −27.1%/yr from FY2021.
of which total revenue +6.9 % · buybacks/dilution +0.3 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
HUFV-A screens 57% overvalued. Compare with CBRE Group →
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.
Valuation Multiples vs Real Estate Services median · lower = cheaper
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.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Aug 14, 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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