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Platzer Fastigheter Holding (PLAZ-B) Fair Value & Analysis

Real Estate · SE · Market cap 8.5B SEK (≈ $890M) · ISIN SE0004977692

What is Platzer Fastigheter Holding really worth?

PF Platzer Fastigheter Holding PLAZ-B · ST
Pricekr 72.70
Fair Valuekr 79.66
Upside+9.6%
Quality54/100

A solid business, currently priced close to our fair value of kr 79.66.

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Strengths

Highly profitable · 45.0% net margin
Moderate debt · generates free cash flow
Ranks above peers (9/14)

Risks

!Expensive Growth (revenue 5y +8.9 %/yr)
!Moderate moat 62/100
!Weak on past: 24 out of 100

For context

·2.89% dividend yield
Evidence: High Range kr 72.25 – kr 79.66

Fair value as of: Aug 30, 2026

From 14 valuation models · updated 6 days ago

Share price −2.2% 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 close to our fair value, market and models broadly agree here, little valuation tension.
  • The models converge in a tight band (kr 72.25 to kr 79.66), unusually little disagreement for a valuation.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Price vs Fair Value (5 years)

kr 160.06 kr 51.46 Fair Value kr 79.66 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.

How to read this chart

60‑month range kr 51.46 – kr 160.06 · fair‑value band kr 72.25 – kr 79.66 · the kr 72.70 price screens below the kr 79.66 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 30, 2026.

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Analysis

Platzer Fastigheter Holding (PLAZ-B) currently trades at kr 72.70, while our model-based Fair Value estimate is kr 79.66, implying the stock looks roughly 8.7% fairly valued today. The Quality Score stands at 54/100 (solid quality), in the Real Estate sector. Bull case: the Multiples group reads highest at a median of kr 96.34 per share, and 7 of the 13 models we run sit above the kr 72.70 price. Bear case: the Growth DCF group reads lowest at kr 14.85, and 6 of the 13 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Platzer Fastigheter Holding generated revenue of 1.7B SEK at a net margin of 45.0%. Revenue declined 2.2% year over year. It earns a return on equity of 6.1%. Net debt stands at 14.8B SEK. Fundamentals as of Aug 30, 2026

Our scenario range runs from kr 72.25 (bear case) to kr 79.66 (bull case); at kr 72.70, 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 9% below its 52-week high and 14% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −23% fair-value upside, at 10%, PLAZ-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 2.75 per share, which is 3.5 % 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
FCF DCF kr 0.8700 kr 66.01 76
Residual Income kr 85.30 kr 86.19 kr 82.24 75
Growth DCF kr 57.54 74
All 14 models by family
DCF Models
FCF DCF kr 0.8700 kr 66.01 76
5Y Revenue Exit kr 15.90 kr 81.59 68
5Y EBITDA Exit kr 4.70 kr 91.64 kr 198.89 66
10Y Revenue Exit kr 6.13 kr 72.08 63
10Y EBITDA Exit kr 59.32 kr 164.85 64
Multiples
P/S Multiple kr 72.25 kr 96.34 kr 120.42 56
P/B Multiple kr 75.50 kr 100.67 kr 125.84 53
EV/EBIT kr 82.15 kr 143.04 kr 203.94 62
EV/EBITDA kr 41.18 kr 88.41 kr 135.64 62
EV/Revenue kr 3.22 kr 34.35 49
Asset-Based
NCAV (Graham) kr 56.07 kr 75.13 kr 112.14 52
Growth DCF
Growth DCF kr 57.54 74
Rev-Margin DCF kr 14.85 kr 74.59 68
Economic Profit
Residual Income kr 85.30 kr 86.19 kr 82.24 75

Widest divergence: Multiples (kr 96.34) versus Growth DCF (kr 14.85). Highest evidence: FCF DCF (76).

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Key figures & financial health

P/E ratio 10.6 as of Jun 8, 2026
P/S ratio 4.25 P/E × margin
EPS (TTM) kr 6.54 price ÷ EPS = P/E 10.6
Dividend yield 2.9% payout 32.1%
Net margin 40.0% FY2025
Return on equity 6.1% TTM
More key figures
Profitability
Return on assets (EBIT) 4.1% avg 5y
Operating margin 72.2% TTM
Growth
Revenue (TTM) 1.7B SEK TTM
Revenue growth (YoY) −2.2% 3y avg +12.4%
EPS growth (YoY) +46.0%
Balance sheet & cash flow
Free cash flow 611M SEK FY2025
Net debt 14.8B SEK FY2025 · ≈ 24.2 yrs of FCF

Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 54/100

Of which business quality 51 · Market factors (momentum, volatility) 46

Profitability 34
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 56
Earnings quality: real cash, not paper profit
Fin. Strength 30
Balance sheet, leverage, solvency risk
Investment 63
Disciplined investing over empire-building
Low Volatility 41
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 52
Distance to the 52-week high (market factor)
Net Issuance 90
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

Platzer Fastigheter Holding AB (publ) owns and develops commercial properties in Sweden. Its portfolio includes office and industry/warehouse, as well as hotels and retail properties. The company also acts as an urban developer. Platzer Fastigheter Holding AB (publ) was founded in 1969 and is headquartered in Gothenburg, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Platzer Fastigheter Holding reported revenue of 1.7B SEK in FY2025 versus 1.2B SEK in FY2021, a compound +9.8%/yr. Reported net income was 698M SEK in FY2025, compounding −20.0%/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)
1.7B SEK
Latest YoY
+4.6%
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.
+12.4%
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.
+8.9%
Avg. revenue growth/yr (15Y) 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.
+12.4%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
−6.4% (−9.3 + 2.9)
Revenue +9.8%/yr
FY21 1.2B SEK
FY22 1.2B SEK
FY23 1.5B SEK
FY24 1.7B SEK
FY25 1.7B SEK
Net income −20.0%/yr
FY21 1.7B SEK
FY22 3.0B SEK
FY23 −943M SEK
FY24 355M SEK
FY25 698M SEK
Character of growth · EPS growth decomposed (2014-2025) −0.8 % p.a.
Revenue per share +9.7 %

of which total revenue +11.6 % · buybacks/dilution −1.7 %

EBIT margin +0.9 %
Tax rate −0.1 %
Residual (interest, one-offs) −10.3 %

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).

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Cite: Fair Value Calculator (2026). "Platzer Fastigheter Holding Fair Value". https://www.fairvalue-calculator.com/stock/PLAZ-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 55 · Above median
Fair Value upside +10% · Above median
Return on equity (TTM) 6% · Above median
Return on assets 3% · Above median
Net margin (TTM) 45% · Top 25%
Operating margin (TTM) 72% · Top 25%
Revenue growth −2% · Below median
Dividend yield (TTM) 2.9% · Below median
Debt / equity 0.91× · Higher than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 10.6× · Cheaper than median
P/B 0.64× · Cheaper than median
P/S (TTM) 4.89× · Pricier than median
P/FCF 1.5× · Cheaper than median
EV/EBITDA 15.7× · Pricier than median

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
VALUE46 · sector 30
FUTURE0 · sector 11
PAST24 · sector 17
HEALTH55 · sector 84
DIVIDEND58 · 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 30, 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 Platzer Fastigheter Holding (PLAZ-B) overvalued or undervalued?
As of Aug 30, 2026, our model estimates a fair value of kr 79.66 versus a price of kr 72.70, about +10% upside (fairly valued).
What is the fair value of PLAZ-B?
Our model-based fair value for Platzer Fastigheter Holding is kr 79.66 (as of Aug 30, 2026), built from audited fundamentals. The current price: kr 72.70.
What is the quality score of PLAZ-B?
Platzer Fastigheter Holding has a Quality Score of 54/100. 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 Platzer Fastigheter Holding (PLAZ-B)?
Platzer Fastigheter Holding reported trailing-twelve-month revenue of about 1.7B SEK (latest available figure, as of Aug 30, 2026).
What is the net profit margin of PLAZ-B?
The net profit margin of Platzer Fastigheter Holding is about 45.0%, meaning it keeps roughly 45.0% of revenue as net income. Based on the latest reported figures.
Does Platzer Fastigheter Holding pay a dividend?
Platzer Fastigheter Holding currently shows a dividend yield of about 2.89% relative to its recent price (as of Aug 30, 2026).
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