Stenhus Fastigheter I Norden AB (SFAST) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Stenhus Fastigheter I Norden AB SEK 24.88, price SEK 11.80, upside +110.9%, quality 63 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
60‑month range kr 6.87 – kr 30.47 · fair‑value band kr 9.04 – kr 52.48 · the kr 11.80 price screens below the kr 24.88 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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Stenhus Fastigheter i Norden AB (publ), a real estate company, engages in the ownership and management of public and commercial properties in Stockholm and Mäladaren region of Sweden. Stenhus Fastigheter i Norden AB (publ) was incorporated in 2020 and is headquartered in Stockholm, Sweden.
Stock analysis
Stenhus Fastigheter I Norden AB (SFAST) currently trades at kr 11.80, while our model-based Fair Value estimate is kr 24.88, implying the stock looks roughly 52.6% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 27.50 per share, and 13 of the 14 models we run sit above the kr 11.80 price.
Bear case: the Asset-Based group reads lowest at kr 12.04, and 1 of the 14 models stay below the price. Evidence for this calculation is high.
Scenario range: kr 9.04 (bear) to kr 52.48 (bull), the price of kr 11.80 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 63/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Stenhus Fastigheter I Norden AB reported revenue of 1.0B SEK in FY2025 versus 284M SEK in FY2021, a compound +38.2%/yr. Reported net income was 377M SEK in FY2025, compounding −16.9%/yr from FY2021.
Key figures
Market cap 4.3B SEK (≈ $434M) · P/E ratio 8.1 · P/S ratio 2.94 · EPS (TTM) kr 1.46 · Dividend yield 2.6% · Net margin 36.4% · Return on equity 8.7% · Return on assets (EBIT) 6.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and 18% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −37% fair-value upside, at 111%, SFAST screens cheaper than that median.
Fair Value models
Bear kr 9.04Fair Value kr 24.88Bull kr 52.48
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 0.8412 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.95/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+2.4%
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.
+13.3%
Revenue growth 5 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.
+65.5%
Start year 2020 (pandemic)
Revenue growth 6 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.
+51.1%
’19
’20
’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. Basis: EBIT basis.
≈ −11.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−13.8%
Dividend (yield on the price)2.6%
Profit margin 2020 to 2025 ⓘ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.332% → 71%
⚠ Rate on operating basis: 2025 sits 150% above its own trend.
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).
+21.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about +18.8% a year for the price.
Compare Stenhus Fastigheter I Norden AB with another stock
Price, fair value, quality and upside side by side.
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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 · 546 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score64 · Top 25%
Fair Value upside+111% · Top 25%
Profitability
Return on equity (TTM)9% · Above median
Return on assets3% · Top 25%
Net margin (TTM)48% · Top 25%
Operating margin (TTM)74% · Top 25%
Growth and dividend
Revenue growth3% · Above median
Dividend yield (TTM)2.6% · Below median
Balance sheet
Debt / equity1.16× · 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). "Stenhus Fastigheter I Norden AB Fair Value". https://www.fairvalue-calculator.com/stock/SFAST
Frequently asked questions
Is Stenhus Fastigheter I Norden AB (SFAST) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 24.88 versus a price of kr 11.80, about +111% upside (undervalued).
What is the fair value of SFAST?
Our model-based fair value for Stenhus Fastigheter I Norden AB is kr 24.88 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 11.80.
What is the quality score of SFAST?
Stenhus Fastigheter I Norden AB has a Quality Score of 63/100. 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 Stenhus Fastigheter I Norden AB (SFAST)?
Our model-based price target is the fair value of kr 24.88 (as of Sep 24, 2026) from 14 valuation models. Cautious scenario kr 9.04, optimistic scenario kr 52.48. It is a calculation from audited fundamentals, not an analyst target.
What is the Stenhus Fastigheter I Norden AB stock forecast for 2026?
Our models put fair value at kr 24.88, about +111% upside versus a price of kr 11.80 (undervalued). Cautious scenario kr 9.04, optimistic scenario kr 52.48. The calculation is refreshed regularly with new filings.
What is the revenue of Stenhus Fastigheter I Norden AB (SFAST)?
Stenhus Fastigheter I Norden AB reported trailing-twelve-month revenue of about 1.0B SEK (latest available figure, as of Sep 24, 2026).
Does Stenhus Fastigheter I Norden AB pay a dividend?
Stenhus Fastigheter I Norden AB currently shows a dividend yield of about 2.63% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Stenhus Fastigheter I Norden AB (SFAST)?
For today's price to be fair in a discounted-cash-flow model, Stenhus Fastigheter I Norden AB would have to grow free cash flow by +21.2 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +65.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of SFAST use?
Our models discount Stenhus Fastigheter I Norden AB at 11.8 %: a base by market capitalisation (small), damped by beta 1.27, country premium for Sweden. 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 Stenhus Fastigheter I Norden AB that is +21.2 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Stenhus Fastigheter I Norden AB (SFAST) delivered so far?
Over the past 5 years revenue at Stenhus Fastigheter I Norden AB grew +65.5 % a year. The price currently implies +21.2 % 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 Stenhus Fastigheter I Norden AB (SFAST) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Stenhus Fastigheter I Norden AB (+21.2 % 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 Stenhus Fastigheter I Norden AB (SFAST)?
The free-cash-flow yield on the price is 9.68 %: that much free cash flow Stenhus Fastigheter I Norden AB produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Stenhus Fastigheter I Norden AB (SFAST)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Stenhus Fastigheter I Norden AB it is kr 24.88 per share (as of Sep 24, 2026), against a price of kr 11.80. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Stenhus Fastigheter I Norden AB stock overvalued or undervalued in 2026?
As of Sep 24, 2026, SFAST trades below its calculated fair value: price kr 11.80, fair value kr 24.88, a gap of about +111% (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 SFAST?
No. The price is what the market pays today (kr 11.80); the fair value is what the company's own numbers justify (kr 24.88). For Stenhus Fastigheter I Norden AB the two are kr 13.08 per share apart. That gap is exactly why we show both numbers side by side.
How much is Stenhus Fastigheter I Norden AB worth?
The market values Stenhus Fastigheter I Norden AB at about 4.3B SEK (market capitalisation, as of Sep 24, 2026). Per share that is kr 11.80; our models calculate a fair value of kr 24.88 per share.
What do the bullish and bearish scenarios say about SFAST?
Our models span a range for Stenhus Fastigheter I Norden AB: cautious scenario kr 9.04, base kr 24.88, optimistic kr 52.48 per share (as of Sep 24, 2026, price kr 11.80). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SFAST?
Stenhus Fastigheter I Norden AB trades at a price-to-earnings ratio of 8.1 (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 24.88 is built from several models across several years. Other multiples: P/B 0.7, P/S 4.1, EV/EBITDA 14.1.
How solid is the balance sheet of Stenhus Fastigheter I Norden AB (SFAST)?
Balance-sheet figures for Stenhus Fastigheter I Norden AB (as of Sep 24, 2026): return on equity 8.7%, debt of 1.16 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is SFAST from its 52-week high?
Stenhus Fastigheter I Norden AB trades at kr 11.80, about 10% below its 52-week high of kr 13.06 and 18% above the low of kr 10.01 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of kr 24.88 is for.
Which stocks are comparable to Stenhus Fastigheter I Norden AB?
From the same area (Real Estate) we also value Vingroup Joint Stock Company, CBRE Group, Vonovia SE, 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 Stenhus Fastigheter I Norden AB stock attractive at the current price?
The data as of Sep 24, 2026: price kr 11.80, calculated fair value kr 24.88 (+111%), Quality Score 63/100, from 14 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 SFAST calculated?
We run Stenhus Fastigheter I Norden AB through 14 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 24.88, 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. Stenhus Fastigheter I Norden AB currently trades 111 % 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 Stenhus Fastigheter I Norden AB (SFAST)?
The closing price on Sep 23, 2026 was kr 11.80. Our model-based fair value is kr 24.88, about +111% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Stenhus Fastigheter I Norden AB right now?
The model range is unusually wide (kr 9.04 to kr 52.48). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Stenhus Fastigheter I Norden AB
How large is the market capitalisation of Stenhus Fastigheter I Norden AB (SFAST)?
The market capitalisation of Stenhus Fastigheter I Norden AB is 4.3B SEK (≈ $434M). 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 Stenhus Fastigheter I Norden AB (SFAST)?
The price-to-sales ratio of Stenhus Fastigheter I Norden AB is 2.94 (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 Stenhus Fastigheter I Norden AB (SFAST)?
Earnings per share at Stenhus Fastigheter I Norden AB are kr 1.46 (price ÷ EPS = P/E 8.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Stenhus Fastigheter I Norden AB (SFAST)?
The dividend yield of Stenhus Fastigheter I Norden AB is 2.6% (payout 21.2%). 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 Stenhus Fastigheter I Norden AB (SFAST)?
The net margin of Stenhus Fastigheter I Norden AB is 36.4% (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 Stenhus Fastigheter I Norden AB (SFAST)?
The return on equity (ROE) of Stenhus Fastigheter I Norden AB is 8.7% (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 Stenhus Fastigheter I Norden AB (SFAST)?
On an EBIT basis the return on assets of Stenhus Fastigheter I Norden AB is 6.3% (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 Stenhus Fastigheter I Norden AB (SFAST)?
The operating margin of Stenhus Fastigheter I Norden AB is 74.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Stenhus Fastigheter I Norden AB (SFAST)?
Revenue at Stenhus Fastigheter I Norden AB is growing +2.6% versus a year earlier (3y avg +13.3%). 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 Stenhus Fastigheter I Norden AB (SFAST)?
Earnings per share at Stenhus Fastigheter I Norden AB are growing +84.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Stenhus Fastigheter I Norden AB (SFAST) carry?
The net debt of Stenhus Fastigheter I Norden AB is 7.8B SEK (fiscal year 2025, ≈ 18.8 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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