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Samhällsbyggnadsbolaget i Norden AB (publ) (SBB-B) fair value: what the stock is really worth

As of Oct 19, 2026: fair value (intrinsic value) of Samhällsbyggnadsbolaget i Norden AB (publ) stock SEK 4.72, price SEK 2.34, upside +102.1%, quality 36 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Real Estate · SE · ISIN SE0009554454

SI Samhällsbyggnadsbolaget i Norden AB (publ) logo Thin data Oct 13, 2026

Samhällsbyggnadsbolaget i Norden AB (publ)

SBB-B · ST

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

The stock costs 51% less than our calculation considers fair.

Fair value kr 4.72 · Strongly undervalued (+102.1%)
Mixed Growth (revenue YoY −46.2 %/yr in SEK)
Quality 36/100
Loss-making · -116.5% net margin (FY2025)
High debt
Negative free cash flow
Trails peers (4/11)
Narrow moat 29/100
Thin data

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

kr 41.40 kr 2.29 Fair Value kr 4.72 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 13, 2026.

How to read this chart

60‑month range kr 2.29 – kr 41.40 · fair‑value band kr 3.52 – kr 7.05 · the kr 2.34 price screens below the kr 4.72 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 13, 2026.

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Company profile

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.

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The Development segment comprises properties that require investments. Samhällsbyggnadsbolaget i Norden AB (publ) was founded in 2016 and is headquartered in Stockholm, Sweden.

Stock analysis

Samhällsbyggnadsbolaget i Norden AB (publ) (SBB-B) currently trades at kr 2.34, while our model-based Fair Value estimate is kr 4.72, implying the stock looks roughly 50.5% undervalued today.

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Valuation

How firm this estimate is: it rests on 6 models at a data quality of 82/100, which puts the data coverage at low.

Scenario range: kr 3.52 (bear) to kr 7.05 (bull), the price of kr 2.34 sits below 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 36/100 (below-average quality), in the Real Estate sector.

Mixed Growth: Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.

Samhällsbyggnadsbolaget i Norden AB (publ) 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.

Key figures

Market cap 5.4B SEK (≈ $549M) Small · P/S ratio 2.90 · EPS (TTM) kr −0.1900 · Net margin −116% · Return on equity 2.7% · Return on assets (EBIT) 4.6% · Operating margin 49.7% · Revenue (TTM) 1.9B SEK.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 29 out of 100 (medium confidence).

What moves the price

The share trades about 59% below its 52-week high and 2% 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 102%, SBB-B screens cheaper than that median.

Fair Value models

Bear kr 3.52 Fair Value kr 4.72 Bull kr 7.05
Price kr 2.34 · Upside +102.1%
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. 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.
Best data coverage
NCAV (Graham) kr 3.52 kr 4.72 kr 7.05 52
All 1 models by family
Asset-Based
NCAV (Graham) kr 3.52 kr 4.72 kr 7.05 52

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Quality Score breakdown

Overall quality 36/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 2
How much profit the company makes from its sales and capital
Quality Growth 46
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 10
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 15
How calm the share price moves, does not count
Momentum 6
Price trend of the last 3 to 12 months, does not count
Near the 52-week high 1
Distance to the 52-week high, does not count
New shares 75
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 55/100
Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
Profit margin (trend) ⓘ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.
232.5% (2020) → 34.2% (2025)
What shareholders gained per year ⓘ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

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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 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 36 · Bottom 25%
Fair Value upside +102.1% · Above median
Profitability
Return on equity (12 months) 2.7% · Below median
Return on assets −3.4% · Bottom 25%
Net margin (12 months) −116.5% · Bottom 25%
Operating margin (12 months) 49.7% · Above median
Growth and dividend
Revenue growth (quarter YoY) 0.4% · Below median
Balance sheet
Debt / equity 2.86× · Highest 25%

Valuation Multiplesvs Real Estate Services median · lower = cheaper

P/B 0.47× · Cheaper than median
P/S (12 months) 2.90× · Cheaper than median
EV/EBITDA 43.5× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 45
FUTURE (revenue growth)2 · sector 17
PAST (return on equity)11 · sector 17
HEALTH (low debt)0 · sector 83
DIVIDEND (yield)0 · sector 65

Context: sector, industry, market

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.

Stock Price Fair Value vs Fair Value Compare
Vonovia SE VNA €16.83 €36.55 +117% vs SBB-B
Jones Lang LaSalle Incorporated JLL $305.51 $540.65 +77% vs SBB-B
China Resources Mixc Lifestyle Services Limited 1209 HK$38.38 HK$56.54 +47% vs SBB-B
Cellnex Telecom, S.A CLNX €24.60 €23.94 −3% vs SBB-B
Wharf Real Estate Investment Company 1997 HK$30.52 HK$27.42 −10% vs SBB-B
CBRE Group CBRE $130.80 $91.06 −30% vs SBB-B
Swire Properties Limited 1972 HK$24.30 HK$13.39 −45% vs SBB-B
KE Holdings BEKE $16.43 $7.20 −56% vs SBB-B
CapitaLand Investment Limited 9CI 2.42 SGD 0.5600 SGD −77% vs SBB-B
CoStar Group CSGP $29.21 $6.19 −79% vs SBB-B

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Cite: Fair Value Calculator (2026). "Samhällsbyggnadsbolaget i Norden AB (publ) Fair Value". https://www.fairvalue-calculator.com/stock/SBB-B

Frequently asked questions

Is Samhällsbyggnadsbolaget i Norden AB (publ) (SBB-B) overvalued or undervalued?
As of Oct 13, 2026, our model estimates a fair value of kr 4.72 versus a price of kr 2.34, about +102% upside (undervalued).
What is the fair value of SBB-B?
Our model-based fair value for Samhällsbyggnadsbolaget i Norden AB (publ) is kr 4.72 (as of Oct 13, 2026), built from audited fundamentals. The current price: kr 2.34.
What is the quality score of SBB-B?
Samhällsbyggnadsbolaget i Norden AB (publ) has a Quality Score of 36/100. 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 Samhällsbyggnadsbolaget i Norden AB (publ) (SBB-B)?
Our model-based price target is the fair value of kr 4.72 (as of Oct 13, 2026) from 1 valuation models. Cautious scenario kr 3.52, optimistic scenario kr 7.05. It is a calculation from audited fundamentals, not an analyst target.
What is the Samhällsbyggnadsbolaget i Norden AB (publ) stock forecast for 2026?
Our models put fair value at kr 4.72, about +102% upside versus a price of kr 2.34 (undervalued). Cautious scenario kr 3.52, optimistic scenario kr 7.05. The calculation is refreshed regularly with new filings.
What is the revenue of Samhällsbyggnadsbolaget i Norden AB (publ) (SBB-B)?
Samhällsbyggnadsbolaget i Norden AB (publ) reported trailing-twelve-month revenue of about 1.9B SEK (latest available figure, as of Oct 13, 2026).
What is the intrinsic value of Samhällsbyggnadsbolaget i Norden AB (publ) (SBB-B)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Samhällsbyggnadsbolaget i Norden AB (publ) it is kr 4.72 per share (as of Oct 13, 2026), against a price of kr 2.34. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Samhällsbyggnadsbolaget i Norden AB (publ) stock overvalued or undervalued in 2026?
As of Oct 13, 2026, SBB-B trades below its calculated fair value: price kr 2.34, fair value kr 4.72, a gap of about +102% (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 SBB-B?
No. The price is what the market pays today (kr 2.34); the fair value is what the company's own numbers justify (kr 4.72). For Samhällsbyggnadsbolaget i Norden AB (publ) the two are kr 2.38 per share apart. That gap is exactly why we show both numbers side by side.
How much is Samhällsbyggnadsbolaget i Norden AB (publ) worth?
The market values Samhällsbyggnadsbolaget i Norden AB (publ) at about 5.4B SEK (market capitalisation, as of Oct 13, 2026). Per share that is kr 2.34; our models calculate a fair value of kr 4.72 per share.
What do the bullish and bearish scenarios say about SBB-B?
Our models span a range for Samhällsbyggnadsbolaget i Norden AB (publ): cautious scenario kr 3.52, base kr 4.72, optimistic kr 7.05 per share (as of Oct 13, 2026, price kr 2.34). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Samhällsbyggnadsbolaget i Norden AB (publ) (SBB-B)?
Balance-sheet figures for Samhällsbyggnadsbolaget i Norden AB (publ) (as of Oct 13, 2026): return on equity 2.7%, debt of 2.86 per unit of equity. They feed the Quality Score of 36/100, which measures business quality independently of the share price.
How far is SBB-B from its 52-week high?
Samhällsbyggnadsbolaget i Norden AB (publ) trades at kr 2.34, about 59% below its 52-week high of kr 5.72 and 2% above the low of kr 2.29 (as of Oct 19, 2026). Distance from the high says nothing about value: that is what the fair value of kr 4.72 is for.
Which stocks are comparable to Samhällsbyggnadsbolaget i Norden 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 Samhällsbyggnadsbolaget i Norden AB (publ) stock attractive at the current price?
The data as of Oct 13, 2026: price kr 2.34, calculated fair value kr 4.72 (+102%), Quality Score 36/100, from 1 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 SBB-B calculated?
We run Samhällsbyggnadsbolaget i Norden AB (publ) through 1 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 4.72, 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. Samhällsbyggnadsbolaget i Norden AB (publ) currently trades 51 % 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 Samhällsbyggnadsbolaget i Norden AB (publ) (SBB-B)?
The closing price on Oct 19, 2026 was kr 2.34. Our model-based fair value is kr 4.72, about +102% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Samhällsbyggnadsbolaget i Norden AB (publ) right now?
The large discount to fair value meets weak quality (36/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (kr 3.52). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (kr 3.52 to kr 7.05) leaves room in how you read the outcome.

Key figures of Samhällsbyggnadsbolaget i Norden AB (publ)

How large is the market capitalisation of Samhällsbyggnadsbolaget i Norden AB (publ) (SBB-B)?
The market capitalisation of Samhällsbyggnadsbolaget i Norden AB (publ) is 5.4B SEK (≈ $549M). 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 Samhällsbyggnadsbolaget i Norden AB (publ) (SBB-B)?
The price-to-sales ratio of Samhällsbyggnadsbolaget i Norden AB (publ) is 2.90 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Samhällsbyggnadsbolaget i Norden AB (publ) (SBB-B)?
Earnings per share at Samhällsbyggnadsbolaget i Norden AB (publ) are kr −0.1900. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Samhällsbyggnadsbolaget i Norden AB (publ) (SBB-B)?
The net margin of Samhällsbyggnadsbolaget i Norden AB (publ) is −116% (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 Samhällsbyggnadsbolaget i Norden AB (publ) (SBB-B)?
The return on equity (ROE) of Samhällsbyggnadsbolaget i Norden AB (publ) is 2.7% (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 Samhällsbyggnadsbolaget i Norden AB (publ) (SBB-B)?
On an EBIT basis the return on assets of Samhällsbyggnadsbolaget i Norden AB (publ) is 4.6% (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 Samhällsbyggnadsbolaget i Norden AB (publ) (SBB-B)?
The operating margin of Samhällsbyggnadsbolaget i Norden AB (publ) is 49.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Samhällsbyggnadsbolaget i Norden AB (publ) (SBB-B)?
Revenue at Samhällsbyggnadsbolaget i Norden AB (publ) is growing +0.4% versus a year earlier (3y avg −35.5%). 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 Samhällsbyggnadsbolaget i Norden AB (publ) (SBB-B)?
Earnings per share at Samhällsbyggnadsbolaget i Norden AB (publ) are growing −93.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Samhällsbyggnadsbolaget i Norden AB (publ) (SBB-B) generate?
The free cash flow of Samhällsbyggnadsbolaget i Norden AB (publ) is −677M 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 Samhällsbyggnadsbolaget i Norden AB (publ) (SBB-B) carry?
The net debt of Samhällsbyggnadsbolaget i Norden AB (publ) is 44.0B SEK (fiscal year 2025). 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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