Stendörren Fastigheter AB (publ) (STEF-B) fair value: what the stock is really worth
As of Oct 20, 2026: fair value (intrinsic value) of Stendörren Fastigheter AB (publ) stock SEK 235, price SEK 150, upside +56.3%, quality 55 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
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 123.60 – kr 320.00 · fair‑value band kr 53.80 – kr 563.04 · the kr 150.20 price screens below the kr 234.74 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 13, 2026.
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Stendörren Fastigheter AB (publ), a real estate company, engages in managing, developing, and acquiring properties and building rights in logistics, warehouse, and light industry primarily located in Greater Stockholm and Mälardalen.
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It acquired industrial property Strombrytaren 1 area amounts to 2,700 square meters. The company was formerly known as Header Compression Sweden Holding AB and changed its name to Stendörren Fastigheter AB (publ) in November 2014.
Stendörren Fastigheter AB (publ) was incorporated in 2010 and is based in Stockholm, Sweden.
Stock analysis
Stendörren Fastigheter AB (publ) (STEF-B) currently trades at kr 150.20, while our model-based Fair Value estimate is kr 234.74, implying the stock looks roughly 36.0% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 236.65 per share, and 7 of the 13 models we run sit above the kr 150.20 price.
Bear case: the Economic Profit group reads lowest at kr 117.11, and 6 of the 13 models stay below the price. Data coverage for this calculation is high.
Scenario range: kr 53.80 (bear) to kr 563.04 (bull), the price of kr 150.20 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 55/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Stendörren Fastigheter AB (publ) reported revenue of 1.1B SEK in FY2025 versus 653M SEK in FY2021, a compound +13.6%/yr. Reported net income was 173M SEK in FY2025, compounding −38.5%/yr from FY2021.
Key figures
Market cap 4.9B SEK (≈ $495M) Small · P/E ratio 15.6 · P/S ratio 4.32 · EPS (TTM) kr 10.16 · Dividend yield 0.5% · Net margin 31.3% · Return on equity 5.8% · Return on assets (EBIT) 6.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 60 out of 100 (low confidence).
What moves the price
The share trades about 30% 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 −50% fair-value upside, at 56%, STEF-B screens cheaper than that median.
Fair Value models
Bearkr 53.80Fair Value kr 234.74Bullkr 563.04
Price kr 150.20 · Upside +56.3%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 8.16 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. 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.
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.89/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+20.4%
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.
+14.0%
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.
+11.5%
Start year 2020 (pandemic). Over 10 years: +11.8% a year
Revenue growth 17 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.
+23.2%
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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.
+5.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.2%
Dividend (yield on the price)0.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−12.1% vs −7.7%, slowing
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
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).
+25.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+7.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about +23.1% a year for the price and +5.4% for the forecasts.
Compare Stendörren Fastigheter AB (publ) 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 - Diversified · 131 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score55 · Above median
Fair Value upside+56.3% · Above median
Profitability
Return on equity (12 months)5.8% · Above median
Return on assets1.0% · Below median
Net margin (12 months)31.3% · Above median
Operating margin (12 months)73.7% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)18.6% · Top 25%
Dividend yield (12 months)0.5% · Bottom 25%
Balance sheet
Debt / equity1.56× · Highest 25%
Valuation Multiplesvs Real Estate - Diversified 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). "Stendörren Fastigheter AB (publ) Fair Value". https://www.fairvalue-calculator.com/stock/STEF-B
Frequently asked questions
Is Stendörren Fastigheter AB (publ) (STEF-B) overvalued or undervalued?
As of Oct 13, 2026, our model estimates a fair value of kr 234.74 versus a price of kr 150.20, about +56% upside (undervalued).
What is the fair value of STEF-B?
Our model-based fair value for Stendörren Fastigheter AB (publ) is kr 234.74 (as of Oct 13, 2026), built from audited fundamentals. The current price: kr 150.20.
What is the quality score of STEF-B?
Stendörren Fastigheter AB (publ) has a Quality Score of 55/100. 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 Stendörren Fastigheter AB (publ) (STEF-B)?
Our model-based price target is the fair value of kr 234.74 (as of Oct 13, 2026) from 14 valuation models. Cautious scenario kr 53.80, optimistic scenario kr 563.04. It is a calculation from audited fundamentals, not an analyst target.
What is the Stendörren Fastigheter AB (publ) stock forecast for 2026?
Our models put fair value at kr 234.74, about +56% upside versus a price of kr 150.20 (undervalued). Cautious scenario kr 53.80, optimistic scenario kr 563.04. The calculation is refreshed regularly with new filings.
What is the revenue of Stendörren Fastigheter AB (publ) (STEF-B)?
Stendörren Fastigheter AB (publ) reported trailing-twelve-month revenue of about 1.1B SEK (latest available figure, as of Oct 13, 2026).
Does Stendörren Fastigheter AB (publ) pay a dividend?
Stendörren Fastigheter AB (publ) currently shows a dividend yield of 0.47% relative to its recent price (as of Oct 13, 2026).
What growth is priced into Stendörren Fastigheter AB (publ) (STEF-B)?
For today's price to be fair in a discounted-cash-flow model, Stendörren Fastigheter AB (publ) would have to grow free cash flow by +25.6 % per year for five years (discount rate 11.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.5 % per year. As of Oct 13, 2026.
What discount rate (WACC) does the fair value of STEF-B use?
Our models discount Stendörren Fastigheter AB (publ) at 11.4 %: a base by market capitalisation (small), damped by beta 1.13, 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 Stendörren Fastigheter AB (publ) that is +25.6 % per year a year over ten years, using the same discount rate (11.4 %) and the same formula as our fair value.
How much growth has Stendörren Fastigheter AB (publ) (STEF-B) delivered so far?
Over the past 5 years revenue at Stendörren Fastigheter AB (publ) grew +11.5 % a year. The price currently implies +25.6 % 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 Stendörren Fastigheter AB (publ) (STEF-B) growing?
The median revenue growth in the sector is +2.3 % a year. That is the yardstick for the growth priced into Stendörren Fastigheter AB (publ) (+25.6 % 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 Stendörren Fastigheter AB (publ) (STEF-B)?
The free-cash-flow yield on the price is 7.47 %: that much free cash flow Stendörren Fastigheter AB (publ) produces per unit of market value. When it exceeds the discount rate of our models (11.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Stendörren Fastigheter AB (publ) (STEF-B)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Stendörren Fastigheter AB (publ) it is kr 234.74 per share (as of Oct 13, 2026), against a price of kr 150.20. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Stendörren Fastigheter AB (publ) stock overvalued or undervalued in 2026?
As of Oct 13, 2026, STEF-B trades below its calculated fair value: price kr 150.20, fair value kr 234.74, a gap of about +56% (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 STEF-B?
No. The price is what the market pays today (kr 150.20); the fair value is what the company's own numbers justify (kr 234.74). For Stendörren Fastigheter AB (publ) the two are kr 84.54 per share apart. That gap is exactly why we show both numbers side by side.
How much is Stendörren Fastigheter AB (publ) worth?
The market values Stendörren Fastigheter AB (publ) at about 4.9B SEK (market capitalisation, as of Oct 13, 2026). Per share that is kr 150.20; our models calculate a fair value of kr 234.74 per share.
What do the bullish and bearish scenarios say about STEF-B?
Our models span a range for Stendörren Fastigheter AB (publ): cautious scenario kr 53.80, base kr 234.74, optimistic kr 563.04 per share (as of Oct 13, 2026, price kr 150.20). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of STEF-B?
Stendörren Fastigheter AB (publ) trades at a price-to-earnings ratio of 15.6 (as of Oct 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 234.74 is built from several models across several years. Other multiples: P/B 0.9, P/S 4.3, EV/EBITDA 16.2.
How solid is the balance sheet of Stendörren Fastigheter AB (publ) (STEF-B)?
Balance-sheet figures for Stendörren Fastigheter AB (publ) (as of Oct 13, 2026): return on equity 5.8%, debt of 1.56 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is STEF-B from its 52-week high?
Stendörren Fastigheter AB (publ) trades at kr 150.20, about 30% below its 52-week high of kr 216.00 and 1% above the low of kr 148.40 (as of Oct 20, 2026). Distance from the high says nothing about value: that is what the fair value of kr 234.74 is for.
Which stocks are comparable to Stendörren Fastigheter AB (publ)?
From the same area (Real Estate) we also value Swiss Prime Site AG, The Phoenix Mills Limited, Prestige Estates Projects Limited, Umm Al Qura for Development and Construction Company, 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 Stendörren Fastigheter AB (publ) stock attractive at the current price?
The data as of Oct 13, 2026: price kr 150.20, calculated fair value kr 234.74 (+56%), Quality Score 55/100, 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 STEF-B calculated?
We run Stendörren Fastigheter AB (publ) 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 234.74, 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. Stendörren Fastigheter AB (publ) currently trades 36 % 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 Stendörren Fastigheter AB (publ) (STEF-B)?
The closing price on Oct 20, 2026 was kr 150.20. Our model-based fair value is kr 234.74, about +56% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Stendörren Fastigheter AB (publ) right now?
The model range is unusually wide (kr 53.80 to kr 563.04). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (55/100) 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.
Where does the earnings growth of Stendörren Fastigheter AB (publ) (STEF-B) come from?
Earnings per share at Stendörren Fastigheter AB (publ) grew −1.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +12.2 %, EBIT margin +1.0 %, tax rate −2.1 %, residual (interest, one-offs) −10.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Stendörren Fastigheter AB (publ)
How large is the market capitalisation of Stendörren Fastigheter AB (publ) (STEF-B)?
The market capitalisation of Stendörren Fastigheter AB (publ) is 4.9B SEK (≈ $495M). 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 Stendörren Fastigheter AB (publ) (STEF-B)?
The price-to-sales ratio of Stendörren Fastigheter AB (publ) is 4.32 (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 Stendörren Fastigheter AB (publ) (STEF-B)?
Earnings per share at Stendörren Fastigheter AB (publ) are kr 10.16 (price ÷ EPS = P/E 15.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Stendörren Fastigheter AB (publ) (STEF-B)?
The dividend yield of Stendörren Fastigheter AB (publ) is 0.5% (payout 6.9%). 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 Stendörren Fastigheter AB (publ) (STEF-B)?
The net margin of Stendörren Fastigheter AB (publ) is 31.3% (last twelve months). 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 Stendörren Fastigheter AB (publ) (STEF-B)?
The return on equity (ROE) of Stendörren Fastigheter AB (publ) is 5.8% (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 Stendörren Fastigheter AB (publ) (STEF-B)?
On an EBIT basis the return on assets of Stendörren Fastigheter AB (publ) is 6.1% (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 Stendörren Fastigheter AB (publ) (STEF-B)?
The operating margin of Stendörren Fastigheter AB (publ) is 73.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Stendörren Fastigheter AB (publ) (STEF-B)?
Revenue at Stendörren Fastigheter AB (publ) is growing +18.6% versus a year earlier (3y avg +14.0%). 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 Stendörren Fastigheter AB (publ) (STEF-B)?
Earnings per share at Stendörren Fastigheter AB (publ) are growing +18.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Stendörren Fastigheter AB (publ) (STEF-B) carry?
The net debt of Stendörren Fastigheter AB (publ) is 9.6B SEK (fiscal year 2025, ≈ 26.1 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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Broad data
Oct 13, 2026