NP3 Fastigheter AB (publ) (NP3-PREF) fair value: what the stock is really worth
As of Oct 19, 2026: fair value (intrinsic value) of NP3 Fastigheter AB (publ) stock SEK 74.13, price SEK 30.05, upside +146.7%, quality 42 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
NP3 Fastigheter AB (publ), a real estate company, engages in commercial investment property business in Sweden. The company is involved in property management and letting; acquiring and divesting properties; and development of property portfolio.
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Its real estate portfolio consists of commercial, industrial, retail, offices, and logistics, as well as hotels, sports facilities, land, and properties for public use, such as schools. The company was incorporated in 2007 and is headquartered in Sundsvall, Sweden.
Stock analysis
NP3 Fastigheter AB (publ) (NP3-PREF) currently trades at kr 30.05, while our model-based Fair Value estimate is kr 74.13, implying the stock looks roughly 59.5% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of kr 272.02 per share, and 14 of the 14 models we run sit above the kr 30.05 price.
Bear case: the Asset-Based group reads lowest at kr 131.52, and 0 of the 14 models stay below the price. Data coverage for this calculation is high.
Scenario range: kr 16.60 (bear) to kr 165.30 (bull), the price of kr 30.05 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 42/100 (below-average quality), in the Real Estate sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
NP3 Fastigheter AB (publ) reported revenue of 2.3B SEK in FY2025 versus 1.2B SEK in FY2021, a compound +16.4%/yr. Reported net income was 1.3B SEK in FY2025, compounding −10.8%/yr from FY2021.
Key figures
Market cap 4.0B SEK (≈ $402M) Small · P/E ratio 0.8 · P/S ratio 0.45 · EPS (TTM) kr 36.45 · Net margin 56.1% · Return on equity 14.5% · Return on assets (EBIT) 5.9% · Operating margin 74.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 74 out of 100 (low confidence).
What moves the price
The share trades about 4% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −10% fair-value upside, at 147%, NP3-PREF screens cheaper than that median.
Fair Value models
Bearkr 16.60Fair Value kr 74.13Bullkr 165.30
Price kr 30.05 · Upside +146.7%
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 24.13 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+14.2%
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.
+13.6%
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.
+15.8%
Start year 2020 (pandemic). Over 10 years: +18.7% a year
Revenue growth 12 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.
+25.5%
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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.
+7.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.6%
Dividend (yield on the price)0.0%
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.7.6% vs 17.3%, slowing
Profit margin 2018 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.88% → 72%
Compare NP3 Fastigheter AB (publ) with another stock
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 · 519 stocks
Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score42 · Bottom 25%
Fair Value upside+146.7% · Top 25%
Profitability
Return on equity (12 months)14.5% · Top 25%
Return on assets4.6% · Top 25%
Net margin (12 months)64.0% · Top 25%
Operating margin (12 months)74.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)10.1% · Above median
Dividend yield (12 months)21.3% · Top 25%
Balance sheet
Debt / equity1.22× · 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). "NP3 Fastigheter AB (publ) Fair Value". https://www.fairvalue-calculator.com/stock/NP3-PREF
Frequently asked questions
Is NP3 Fastigheter AB (publ) (NP3-PREF) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of kr 74.13 versus a price of kr 30.05, about +147% upside (undervalued).
What is the fair value of NP3-PREF?
Our model-based fair value for NP3 Fastigheter AB (publ) is kr 74.13 (as of Oct 2, 2026), built from audited fundamentals. The current price: kr 30.05.
What is the quality score of NP3-PREF?
NP3 Fastigheter AB (publ) has a Quality Score of 42/100. 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 NP3 Fastigheter AB (publ) (NP3-PREF)?
Our model-based price target is the fair value of kr 74.13 (as of Oct 2, 2026) from 14 valuation models. Cautious scenario kr 16.60, optimistic scenario kr 165.30. It is a calculation from audited fundamentals, not an analyst target.
What is the NP3 Fastigheter AB (publ) stock forecast for 2026?
Our models put fair value at kr 74.13, about +147% upside versus a price of kr 30.05 (undervalued). Cautious scenario kr 16.60, optimistic scenario kr 165.30. The calculation is refreshed regularly with new filings.
What is the revenue of NP3 Fastigheter AB (publ) (NP3-PREF)?
NP3 Fastigheter AB (publ) reported trailing-twelve-month revenue of about 2.4B SEK (latest available figure, as of Oct 2, 2026).
What is the intrinsic value of NP3 Fastigheter AB (publ) (NP3-PREF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For NP3 Fastigheter AB (publ) it is kr 74.13 per share (as of Oct 2, 2026), against a price of kr 30.05. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is NP3 Fastigheter AB (publ) stock overvalued or undervalued in 2026?
As of Oct 2, 2026, NP3-PREF trades below its calculated fair value: price kr 30.05, fair value kr 74.13, a gap of about +147% (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 NP3-PREF?
No. The price is what the market pays today (kr 30.05); the fair value is what the company's own numbers justify (kr 74.13). For NP3 Fastigheter AB (publ) the two are kr 44.08 per share apart. That gap is exactly why we show both numbers side by side.
How much is NP3 Fastigheter AB (publ) worth?
The market values NP3 Fastigheter AB (publ) at about 4.0B SEK (market capitalisation, as of Oct 2, 2026). Per share that is kr 30.05; our models calculate a fair value of kr 74.13 per share.
What do the bullish and bearish scenarios say about NP3-PREF?
Our models span a range for NP3 Fastigheter AB (publ): cautious scenario kr 16.60, base kr 74.13, optimistic kr 165.30 per share (as of Oct 2, 2026, price kr 30.05). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NP3-PREF?
NP3 Fastigheter AB (publ) trades at a price-to-earnings ratio of 0.8 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 74.13 is built from several models across several years. Other multiples: P/S 0.2, EV/EBITDA 7.6.
How solid is the balance sheet of NP3 Fastigheter AB (publ) (NP3-PREF)?
Balance-sheet figures for NP3 Fastigheter AB (publ) (as of Oct 2, 2026): return on equity 14.5%, debt of 1.22 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is NP3-PREF from its 52-week high?
NP3 Fastigheter AB (publ) trades at kr 30.05, about 4% below its 52-week high of kr 31.45 and 3% above the low of kr 29.10 (as of Oct 19, 2026). Distance from the high says nothing about value: that is what the fair value of kr 74.13 is for.
Which stocks are comparable to NP3 Fastigheter AB (publ)?
From the same area (Real Estate) we also value CBRE Group, KE Holdings, Swire Properties Limited, Cellnex Telecom, S.A, 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 NP3 Fastigheter AB (publ) stock attractive at the current price?
The data as of Oct 2, 2026: price kr 30.05, calculated fair value kr 74.13 (+147%), Quality Score 42/100, from 14 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 NP3-PREF calculated?
We run NP3 Fastigheter AB (publ) through 14 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 74.13, 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 13.9 % above its aggregate fair value. NP3 Fastigheter AB (publ) currently trades 59 % 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 NP3 Fastigheter AB (publ) (NP3-PREF)?
The closing price on Oct 19, 2026 was kr 30.05. Our model-based fair value is kr 74.13, about +147% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with NP3 Fastigheter AB (publ) right now?
The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain. The model range is unusually wide (kr 16.60 to kr 165.30). The outcome hinges heavily on assumptions, so read the point estimate with caution. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of NP3 Fastigheter AB (publ) (NP3-PREF) come from?
Earnings per share at NP3 Fastigheter AB (publ) grew +13.4 % a year from 2014 to 2025. Broken into its drivers: revenue per share +15.7 %, EBIT margin −0.3 %, tax rate +0.0 %, residual (interest, one-offs) −1.6 %. 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 NP3 Fastigheter AB (publ)
How large is the market capitalisation of NP3 Fastigheter AB (publ) (NP3-PREF)?
The market capitalisation of NP3 Fastigheter AB (publ) is 4.0B SEK (≈ $402M). 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 NP3 Fastigheter AB (publ) (NP3-PREF)?
The price-to-sales ratio of NP3 Fastigheter AB (publ) is 0.45 (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 NP3 Fastigheter AB (publ) (NP3-PREF)?
Earnings per share at NP3 Fastigheter AB (publ) are kr 36.45 (price ÷ EPS = P/E 0.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of NP3 Fastigheter AB (publ) (NP3-PREF)?
The net margin of NP3 Fastigheter AB (publ) is 56.1% (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 NP3 Fastigheter AB (publ) (NP3-PREF)?
The return on equity (ROE) of NP3 Fastigheter AB (publ) is 14.5% (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 NP3 Fastigheter AB (publ) (NP3-PREF)?
On an EBIT basis the return on assets of NP3 Fastigheter AB (publ) is 5.9% (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 NP3 Fastigheter AB (publ) (NP3-PREF)?
The operating margin of NP3 Fastigheter AB (publ) is 74.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at NP3 Fastigheter AB (publ) (NP3-PREF)?
Revenue at NP3 Fastigheter AB (publ) is growing +10.1% versus a year earlier (3y avg +13.6%). 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 NP3 Fastigheter AB (publ) (NP3-PREF)?
Earnings per share at NP3 Fastigheter AB (publ) are growing +81.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does NP3 Fastigheter AB (publ) (NP3-PREF) generate?
The free cash flow of NP3 Fastigheter AB (publ) is 1.0B 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 NP3 Fastigheter AB (publ) (NP3-PREF) carry?
The net debt of NP3 Fastigheter AB (publ) is 13.9B SEK (fiscal year 2025, ≈ 13.6 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
Oct 2, 2026