Public Property Invest AS (PUBLI) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Public Property Invest AS NOK 13.55, price NOK 17.40, upside -22.1%, quality 33 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
29‑month range kr 13.26 – kr 24.52 · fair‑value band kr 9.38 – kr 23.32 · the kr 17.40 price screens above the kr 13.55 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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PPI Public Property Invest AB (publ), a real estate company, owns, develops, operates, and rents real estate properties in Norway, Sweden, Finland, and Denmark. The company's property portfolio includes community service properties with government sector tenants, as well as rental of office spaces.
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PPI Public Property Invest AB (publ), a real estate company, owns, develops, operates, and rents real estate properties in Norway, Sweden, Finland, and Denmark. The company's property portfolio includes community service properties with government sector tenants, as well as rental of office spaces. The company serves hospitals, police stations, courts, and nursing homes for elderly care, schools, and other public services. The company was formerly known as Public Property Invest ASA and changed its name to PPI Public Property Invest AB (publ) in May 2026. PPI Public Property Invest AB (publ) was incorporated in 2018 and is headquartered in Stockholm, Sweden.
Stock analysis
Public Property Invest AS (PUBLI) currently trades at kr 17.40, while our model-based Fair Value estimate is kr 13.55, implying the stock looks roughly 28.4% overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of kr 16.59 per share, and 0 of the 10 models we run sit above the kr 17.40 price.
Bear case: the Multiples group reads lowest at kr 7.49, and 10 of the 10 models stay below the price. Evidence for this calculation is medium.
Scenario range: kr 9.38 (bear) to kr 23.32 (bull), the price of kr 17.40 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 33/100 (below-average quality), in the Real Estate sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Public Property Invest AS reported revenue of 1.1B NOK in FY2025 versus 68.0M NOK in FY2021, a compound +100.0%/yr. Reported net income was 512M NOK in FY2025, compounding −9.9%/yr from FY2021.
Key figures
Market cap 18.7B NOK (≈ $2.0B) · P/E ratio 32.8 · P/S ratio 15.4 · EPS (TTM) kr 0.5300 · Dividend yield 5.7% · Net margin 47.0% · Return on equity 4.9% · Return on assets (EBIT) 2.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 31% below its 52-week high, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −37% fair-value upside, at −22%, PUBLI screens cheaper than that median.
Fair Value models
Bear kr 9.38Fair Value kr 13.55Bull kr 23.32
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (kr 0.1170 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.Evidence ⓘEvidence = 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
+60.9%
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.
+29.3%
’21
’22
’23
’24
’25
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.
−26.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−32.0%
Dividend (yield on the price)5.7%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+27.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Norway: IMF forecast 2.4% a year to 2030, 3.3% from 2016 to 2025) that is about +24.3% a year for the price.
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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 · 547 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score34 · Bottom 25%
Fair Value upside−23% · Below median
Profitability
Return on equity (TTM)5% · Above median
Return on assets3% · Above median
Net margin (TTM)36% · Above median
Operating margin (TTM)70% · Top 25%
Growth and dividend
Revenue growth347% · Top 25%
Dividend yield (TTM)5.7% · Above median
Balance sheet
Debt / equity1.32× · 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). "Public Property Invest AS Fair Value". https://www.fairvalue-calculator.com/stock/PUBLI
Frequently asked questions
Is Public Property Invest AS (PUBLI) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 13.55 versus a price of kr 17.40, about −22% upside (overvalued).
What is the fair value of PUBLI?
Our model-based fair value for Public Property Invest AS is kr 13.55 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 17.40.
What is the quality score of PUBLI?
Public Property Invest AS has a Quality Score of 33/100. 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 Public Property Invest AS (PUBLI)?
Our model-based price target is the fair value of kr 13.55 (as of Sep 24, 2026) from 12 valuation models. Cautious scenario kr 9.38, optimistic scenario kr 23.32. It is a calculation from audited fundamentals, not an analyst target.
What is the Public Property Invest AS stock forecast for 2026?
Our models put fair value at kr 13.55, about −22% upside versus a price of kr 17.40 (overvalued). Cautious scenario kr 9.38, optimistic scenario kr 23.32. The calculation is refreshed regularly with new filings.
What is the revenue of Public Property Invest AS (PUBLI)?
Public Property Invest AS reported trailing-twelve-month revenue of about 1.8B NOK (latest available figure, as of Sep 24, 2026).
Does Public Property Invest AS pay a dividend?
Public Property Invest AS currently shows a dividend yield of about 5.75% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Public Property Invest AS (PUBLI)?
For today's price to be fair in a discounted-cash-flow model, Public Property Invest AS would have to grow free cash flow by +27.3 % per year for five years (discount rate 9.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +100.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of PUBLI use?
Our models discount Public Property Invest AS at 9.8 %: a base by market capitalisation (small), damped by beta 0.57, country premium for Norway. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Public Property Invest AS that is +27.3 % per year a year over ten years, using the same discount rate (9.8 %) and the same formula as our fair value.
How much growth has Public Property Invest AS (PUBLI) delivered so far?
Over the past 4 years revenue at Public Property Invest AS grew +100.1 % a year. The price currently implies +27.3 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Public Property Invest AS (PUBLI) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Public Property Invest AS (+27.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Public Property Invest AS (PUBLI)?
The free-cash-flow yield on the price is 5.32 %: that much free cash flow Public Property Invest AS produces per unit of market value. When it exceeds the discount rate of our models (9.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Public Property Invest AS (PUBLI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Public Property Invest AS it is kr 13.55 per share (as of Sep 24, 2026), against a price of kr 17.40. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Public Property Invest AS stock overvalued or undervalued in 2026?
As of Sep 24, 2026, PUBLI trades above its calculated fair value: price kr 17.40, fair value kr 13.55, a gap of about −22% (overvalued). 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 PUBLI?
No. The price is what the market pays today (kr 17.40); the fair value is what the company's own numbers justify (kr 13.55). For Public Property Invest AS the two are kr 3.85 per share apart. That gap is exactly why we show both numbers side by side.
How much is Public Property Invest AS worth?
The market values Public Property Invest AS at about 18.7B NOK (market capitalisation, as of Sep 24, 2026). Per share that is kr 17.40; our models calculate a fair value of kr 13.55 per share.
What do the bullish and bearish scenarios say about PUBLI?
Our models span a range for Public Property Invest AS: cautious scenario kr 9.38, base kr 13.55, optimistic kr 23.32 per share (as of Sep 24, 2026, price kr 17.40). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PUBLI?
Public Property Invest AS trades at a price-to-earnings ratio of 32.8 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 13.55 is built from several models across several years. Other multiples: P/B 0.9, P/S 10.4.
How solid is the balance sheet of Public Property Invest AS (PUBLI)?
Balance-sheet figures for Public Property Invest AS (as of Sep 24, 2026): return on equity 4.9%, debt of 1.32 per unit of equity. They feed the Quality Score of 33/100, which measures business quality independently of the share price.
How far is PUBLI from its 52-week high?
Public Property Invest AS trades at kr 17.40, about 31% below its 52-week high of kr 25.24 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of kr 13.55 is for.
Which stocks are comparable to Public Property Invest AS?
From the same area (Real Estate) we also value CBRE Group, Vonovia SE, Cellnex Telecom, S.A, KE Holdings, 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 Public Property Invest AS stock attractive at the current price?
The data as of Sep 24, 2026: price kr 17.40, calculated fair value kr 13.55 (−22%), Quality Score 33/100, from 12 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 PUBLI calculated?
We run Public Property Invest AS through 12 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 13.55, 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 14.1 % above its aggregate fair value. Public Property Invest AS itself currently trades above fair value. 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 Public Property Invest AS (PUBLI)?
The closing price on Sep 23, 2026 was kr 17.40. Our model-based fair value is kr 13.55, about −22% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Public Property Invest AS right now?
Weak quality (33/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (kr 9.38 to kr 23.32) 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.
Key figures of Public Property Invest AS
How large is the market capitalisation of Public Property Invest AS (PUBLI)?
The market capitalisation of Public Property Invest AS is 18.7B NOK (≈ $2.0B). 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 Public Property Invest AS (PUBLI)?
The price-to-sales ratio of Public Property Invest AS is 15.4 (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 Public Property Invest AS (PUBLI)?
Earnings per share at Public Property Invest AS are kr 0.5300 (price ÷ EPS = P/E 32.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Public Property Invest AS (PUBLI)?
The dividend yield of Public Property Invest AS is 5.7% (payout 189%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Public Property Invest AS (PUBLI)?
The net margin of Public Property Invest AS is 47.0% (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 Public Property Invest AS (PUBLI)?
The return on equity (ROE) of Public Property Invest AS is 4.9% (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 Public Property Invest AS (PUBLI)?
On an EBIT basis the return on assets of Public Property Invest AS is 2.5% (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 Public Property Invest AS (PUBLI)?
The operating margin of Public Property Invest AS is 70.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Public Property Invest AS (PUBLI)?
Revenue at Public Property Invest AS is growing +347% versus a year earlier (3y avg +29.3%). 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 Public Property Invest AS (PUBLI)?
Earnings per share at Public Property Invest AS are growing −58.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Public Property Invest AS (PUBLI) carry?
The net debt of Public Property Invest AS is 27.3B NOK (fiscal year 2025, ≈ 31.3 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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