Pandox AB (PNDX-B) Fair Value & Analysis
Real Estate · SE · Market cap 33.3B SEK
Fair value as of: Jul 18, 2026
From 24 valuation models · updated 3 days ago
Fair value updated Jul 18, 2026, revised from kr 167.10 to kr 160.51 (−3.9%) since Jul 5, 2026. Share price +0.7% over the past month.
Price vs Fair Value (12 months)
12‑month range kr 159.88 – kr 198.39 · fair‑value band kr 160.51 – kr 216.41 · the kr 168.20 price screens above the kr 160.51 fair value. As of Jul 18, 2026.
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Pandox AB (PNDX-B) currently trades at kr 168.20, while our model-based Fair Value estimate is kr 160.51, implying the stock looks roughly 4.6% fairly valued today. We read business quality at 46/100 (below-average 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, Pandox AB generated revenue of 7.6B SEK at a net margin of 48.0%. Revenue grew 11.0% year over year. It earns a return on equity of 11.0%. Net debt stands at 51.9B SEK. Fundamentals as of Jul 18, 2026
Our scenario range runs from kr 160.51 (bear case) to kr 216.41 (bull case); at kr 168.20, the current price sits within that range. The share trades about 16% below its 52-week high and 10% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -5% fair-value upside, at -5%, PNDX-B screens cheaper than that median.
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jul 18, 2026. TTM = trailing twelve months.
About the company
Pandox AB (publ) owns, develops, and leases hotel properties to skilled hotel operators under long-term, turnover based leases with minimum guaranteed levels. Since their inception in 1995, they have grown into one of the largest hotel property owners in Europe. Their portfolio consists of 193 hotel properties with approximately 43,000 rooms across 11 countries in Northern Europe. The portfolio market value is approximately SEK 90bn. The headquarters is in Stockholm, and we are listed on Nasdaq Stockholm. Pandox AB (publ) was established on January 28, 1932 and incorporated in Sweden.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Pandox AB reported revenue of kr 7.5B in FY2025 versus kr 3.3B in FY2021, a compound +22.9%/yr. Reported net income was kr 3.1B in FY2025, compounding +50.6%/yr from FY2021.
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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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Not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.