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Samhällsbyggnadsbolaget i Norden AB (SBB-B) Fair Value & Analysis

Real Estate · SE · Market cap 7.5B SEK (≈ $785M) · ISIN SE0009554454

What is Samhällsbyggnadsbolaget i Norden AB really worth?

SI Samhällsbyggnadsbolaget i Norden AB SBB-B · ST
Pricekr 3.07
Fair Valuekr 2.82
Upside−8.2%
Quality24/100

Below-average quality, currently priced close to our fair value of kr 2.82.

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Risks

!Mixed Growth (revenue 5y −17.2 %/yr)
!High debt · negative free cash flow
!Trails peers (3/10)
!Narrow moat 36/100
!Evidence only low, so the estimate is less certain
!Weak on valuation: 22 out of 100
!Weak on future: 1 out of 100
Evidence: Low Range kr 2.11 – kr 4.22

Fair value as of: Aug 27, 2026

From 1 valuation models · updated 8 days ago

Share price −8.5% 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.
  • A fairly wide model range (kr 2.11 to kr 4.22) leaves room in how you read the outcome.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
  • 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 41.40 kr 2.32 Fair Value kr 2.82 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.

How to read this chart

60‑month range kr 2.32 – kr 41.40 · fair‑value band kr 2.11 – kr 4.22 · the kr 3.07 price screens above the kr 2.82 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.

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Analysis

Samhällsbyggnadsbolaget i Norden AB (SBB-B) currently trades at kr 3.07, while our model-based Fair Value estimate is kr 2.82, implying the stock looks roughly 8.9% fairly valued today. The Quality Score stands at 24/100 (below-average quality), in the Real Estate sector. How firm this estimate is: it rests on 6 models at a data quality of 82/100, which puts the evidence level at low.

Trailing-twelve-month revenue stands at 1.9B SEK. Revenue grew 0.2% year over year. It earns a return on equity of 0.7%. Net debt stands at 44.0B SEK. Fundamentals as of Aug 27, 2026

Our scenario range runs from kr 2.11 (bear case) to kr 4.22 (bull case); at kr 3.07, 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 53% below its 52-week high and 1% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −23% fair-value upside, at −8%, SBB-B screens cheaper than that median.

Fair Value models

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
NCAV (Graham) best evidence kr 2.51 kr 3.37 kr 5.03 52
All 1 models by family
Asset-Based
NCAV (Graham) best evidence kr 2.51 kr 3.37 kr 5.03 52

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Key figures & financial health

P/S ratio 4.00 TTM
EPS (TTM) kr −0.7100
Net margin −116% FY2025
Return on equity 0.7% TTM
Return on assets (EBIT) 4.6% avg 5y
Operating margin 38.8% TTM
More key figures
Growth
Revenue (TTM) 1.9B SEK TTM
Revenue growth (YoY) +0.2% 3y avg −35.5%
EPS growth (YoY) −93.0%
Balance sheet & cash flow
Free cash flow −677M SEK FY2025
Net debt 44.0B SEK FY2025

Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 24/100

Of which business quality 20 · Market factors (momentum, volatility) 14

Profitability 2
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 10
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 15
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 0
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

Samhällsbyggnadsbolaget i Norden AB (publ) owns, develops, and manages residential and social infrastructure properties in Sweden, Norway, Finland, and Denmark. It operates through Residential and Development segments. The Residential segment consists of apartment buildings and townhouses.

Full company description

Samhällsbyggnadsbolaget i Norden AB (publ) owns, develops, and manages residential and social infrastructure properties in Sweden, Norway, Finland, and Denmark. It operates through Residential and Development segments. The Residential segment consists of apartment buildings and townhouses. The Development segment comprises properties that require investments. Samhällsbyggnadsbolaget i Norden AB (publ) was founded in 2016 and is headquartered in Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Samhällsbyggnadsbolaget i Norden AB reported revenue of 2.0B SEK in FY2025 versus 5.9B SEK in FY2021, a compound −23.8%/yr. Reported net income was −2.3B SEK in FY2025.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
2.0B SEK
Latest YoY
−46.2%
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.
−35.5%
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.
−17.2%
Avg. revenue growth/yr (10Y) 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.
+68.2%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue −23.8%/yr
FY21 5.9B SEK
FY22 7.4B SEK
FY23 4.6B SEK
FY24 3.7B SEK
FY25 2.0B SEK
Net income
FY21 24.6B SEK
FY22 −11.1B SEK
FY23 −22.1B SEK
FY24 −6.0B SEK
FY25 −2.3B SEK

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Cite: Fair Value Calculator (2026). "Samhällsbyggnadsbolaget i Norden AB Fair Value". https://www.fairvalue-calculator.com/stock/SBB-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 25 · Bottom 25%
Fair Value upside −8% · Below median
Return on equity (TTM) 1% · Below median
Return on assets 1% · Below median
Operating margin (TTM) 39% · Above median
Revenue growth 0% · Below median
Debt / equity 2.86× · Higher than 75% of peers

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/B 0.07× · Cheaper than 75% of peers
P/S (TTM) 0.42× · Cheaper than 75% of peers
EV/EBITDA 39.4× · Pricier than 75% of peers

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
VALUE22 · sector 30
FUTURE1 · sector 11
PAST3 · sector 17
HEALTH0 · sector 84
DIVIDEND0 · 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 27, 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 Samhällsbyggnadsbolaget i Norden AB (SBB-B) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of kr 2.82 versus a price of kr 3.07, about −8% upside (fairly valued).
What is the fair value of SBB-B?
Our model-based fair value for Samhällsbyggnadsbolaget i Norden AB is kr 2.82 (as of Aug 27, 2026), built from audited fundamentals. The current price: kr 3.07.
What is the quality score of SBB-B?
Samhällsbyggnadsbolaget i Norden AB has a Quality Score of 24/100. 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 Samhällsbyggnadsbolaget i Norden AB (SBB-B)?
Samhällsbyggnadsbolaget i Norden AB reported trailing-twelve-month revenue of about 1.9B SEK (latest available figure, as of Aug 27, 2026).
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