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Kallebäck Property Invest AB (KAPIAB) Fair Value & Analysis

Real Estate · SE · Market cap 741M SEK

KP Kallebäck Property Invest AB KAPIAB · ST
Pricekr 202.00
Fair Valuekr 179.81
Upside-11.0%
Quality52/100
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Expensive Growth
Highly profitable · 82.0% net margin
Moderate debt · generates free cash flow
5.91% dividend yield
Mixed vs. peers (8/14)
Wide moat 71/100
Evidence: High Range kr 153.15 – kr 344.40 Share as image

Fair value as of: Jul 18, 2026

From 13 valuation models · updated 23 days ago

A solid business, but screening 11% overvalued on our models.

What matters now

  • A fairly wide model range (kr 153.15 to kr 344.40) 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 204.96 kr 130.72 Fair Value kr 179.81 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range kr 130.72 – kr 204.96 · fair‑value band kr 153.15 – kr 344.40 · the kr 202.00 price screens above the kr 179.81 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Kallebäck Property Invest AB (KAPIAB) currently trades at kr 202.00, while our model-based Fair Value estimate is kr 179.81, implying the stock looks roughly 11.0% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Kallebäck Property Invest AB generated revenue of 91.9M SEK at a net margin of 82.0%. Revenue grew 2.8% year over year. It earns a return on equity of 12.7%. Net debt stands at 437M SEK. Fundamentals as of Jul 18, 2026

Our scenario range runs from kr 153.15 (bear case) to kr 344.40 (bull case); at kr 202.00, 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 3% below its 52-week high and 15% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -2% fair-value upside, at -11%, KAPIAB screens richer 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 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
Growth DCF kr 32.06 kr 77.48 kr 130.92 80
Residual Income kr 146.78 kr 166.01 kr 270.41 76
P/S Multiple kr 122.75 kr 163.66 kr 204.58 58
All 13 models by family
DCF Models
FCF DCF kr 29.39 kr 79.07 kr 140.07 38
5Y Revenue Exit kr 10.92 kr 67.39 kr 135.80 39
5Y EBITDA Exit kr 89.99 kr 207.13 kr 337.37 41
10Y Revenue Exit kr 14.49 kr 63.18 kr 121.47 36
10Y EBITDA Exit kr 62.53 kr 149.19 kr 254.85 37
Multiples
P/S Multiple kr 122.75 kr 163.66 kr 204.58 58
P/B Multiple kr 250.59 kr 334.12 kr 417.65 55
EV/EBIT kr 255.11 kr 379.31 kr 503.51 53
EV/EBITDA kr 170.43 kr 266.40 kr 362.38 54
EV/Revenue kr 5.90 kr 58.77 kr 111.65 43
Asset-Based
NCAV (Graham) kr 83.53 kr 111.93 kr 167.06 50
Growth DCF
Growth DCF kr 32.06 kr 77.48 kr 130.92 80
Economic Profit
Residual Income kr 146.78 kr 166.01 kr 270.41 76

Widest divergence: Multiples (kr 266.40) versus Growth DCF (kr 77.48). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 91.9M SEK
Revenue growth (YoY) +2.8%
Net margin 82.0%
Return on equity 12.7%
Free cash flow 60.9M SEK FY2025
P/E ratio 9.9
More key figures
Operating margin 90.3%
EPS (TTM) kr 20.64
Dividend yield 5.9%
EPS growth (YoY) +7.3%
Net debt 437M SEK FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 51 · Market factors (momentum, volatility) 66

Profitability 42
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 55
Earnings quality: real cash, not paper profit
Fin. Strength 42
Balance sheet, leverage, solvency risk
Investment 61
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 61
Distance to the 52-week high (market factor)
Net Issuance 82
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

Kallebäck Property Invest AB (publ) operates as a real estate company primarily in Sweden. It indirectly owns, manages, and leases the Kallebäck 17:2 property in Gothenburg. The company was founded in 2013 and is headquartered in Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Kallebäck Property Invest AB reported revenue of kr 91.9M in FY2025 versus kr 72.3M in FY2021, a compound +6.2%/yr. Reported net income was kr 75.3M in FY2025, compounding −8.4%/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)
91.9M SEK
Latest YoY
+2.2%
Avg. 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.
+6.5%
Avg. 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.
+5.2%
Avg. growth/yr (11Y) 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.
+4.7%
Revenue +6.2%/yr
FY21 kr 72.3M
FY22 kr 76.0M
FY23 kr 85.0M
FY24 kr 89.9M
FY25 kr 91.9M
Net income −8.4%/yr
FY21 kr 107M
FY22 kr 54.5M
FY23 kr 10.5M
FY24 kr 76.9M
FY25 kr 75.3M
Character of growth · EPS growth decomposed (2014-2025) +11.6 % p.a.
Revenue per share +3.9 pp

of which total revenue +3.9 pp · buybacks/dilution +0.0 pp

EBIT margin −0.5 pp
Tax rate +0.6 pp
Residual (interest, one-offs) +7.6 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

KAPIAB screens 11% overvalued. Compare with Vingroup Joint Stock Company →

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Cite: Fair Value Calculator (2026). "Kallebäck Property Invest AB Fair Value". https://www.fairvalue-calculator.com/stock/KAPIAB

Peer Group

Real Estate Services · 520 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 53 · Below median
Fair Value upside −11% · Below median
Return on equity (TTM) 13% · Top 25%
Return on assets 4% · Top 25%
Net margin (TTM) 82% · Top 25%
Operating margin (TTM) 90% · Top 25%
Revenue growth 3% · Above median
Dividend yield (TTM) 5.9% · Top 25%
Debt / equity 0.81× · Higher than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 9.8× · Cheaper than median
P/B 1.22× · Pricier than median
P/S (TTM) 8.06× · Pricier than 75% of peers
P/FCF 1.3× · Cheaper than median
EV/EBITDA 17.7× · Pricier 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 19 · sector 37
FUTURE 14 · sector 10
PAST 51 · sector 16
HEALTH 60 · sector 85
DIVIDEND 100 · sector 49

Insider activity: 30/100

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.

Similar stocks

10 more Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Vingroup Joint Stock Company VIC 223,000 VND 25,731 VND -88%
KE Holdings 2423 HK$44.76 HK$18.03 -60%
Swire Properties Limited 1972 HK$23.90 HK$18.75 -22%
Plaza S.A MALLPLAZA 3,725 CLP 5,571 CLP +50%
SAGAA SAGAA kr 170.00 kr 75.55 -56%
Cencosud Shopping S.A CENCOMALLS 2,324 CLP 2,976 CLP +28%
PT Sarana Menara Nusantara Tbk. owns and TOWR 372.00 IDR 1,208 IDR +225%
PT Metropolitan Kentjana Tbk MKPI 20,975 IDR 19,160 IDR -9%
PT Bangun Kosambi Sukses Tbk, CBDK 3,530 IDR 3,464 IDR -2%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 3,998 ARS +60%

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Frequently asked questions

Is Kallebäck Property Invest AB (KAPIAB) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of kr 179.81 versus a price of kr 202.00, about −11% (overvalued).
What is the fair value of KAPIAB?
Our model-based fair value for Kallebäck Property Invest AB is kr 179.81 (as of Jul 18, 2026), built from audited fundamentals. The current price is kr 202.00.
What is the quality score of KAPIAB?
Kallebäck Property Invest AB has a Quality Score of 52/100. 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 Kallebäck Property Invest AB (KAPIAB)?
Kallebäck Property Invest AB reported trailing-twelve-month revenue of about 91.9M SEK (latest available figure, as of Jul 18, 2026).
What is the net profit margin of KAPIAB?
The net profit margin of Kallebäck Property Invest AB is about 82.0%, meaning it keeps roughly 82.0% of revenue as net income. Based on the latest reported figures.
Does Kallebäck Property Invest AB pay a dividend?
Kallebäck Property Invest AB currently shows a dividend yield of about 5.88% relative to its recent price (as of Jul 18, 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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