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Sveafastigheter AB (SVEAF) Fair Value & Analysis

Real Estate · SE · Market cap 6.0B SEK

SA Sveafastigheter AB SVEAF · ST
Pricekr 32.10
Fair Valuekr 27.03
Upside-15.8%
Quality50/100
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Healthy Growth
Highly profitable · 20.7% net margin
Moderate debt · generates free cash flow
Trails peers (5/13)
Moderate moat 58/100
Evidence: High Range kr 5.41 – kr 27.03 Share as image

Fair value as of: Jul 16, 2026

From 14 valuation models · updated 24 days ago

Share price +4.4% over the past month.

A solid business, but screening 16% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 27.03). The favourable scenario is already priced in.
  • The model range is unusually wide (kr 5.41 to kr 27.03). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (22 months)

kr 45.98 kr 28.85 Fair Value kr 27.03 Oct 2024 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

22‑month range kr 28.85 – kr 45.98 · fair‑value band kr 5.41 – kr 27.03 · the kr 32.10 price screens above the kr 27.03 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

Full chart & analysis →

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Analysis

Sveafastigheter AB (SVEAF) currently trades at kr 32.10, while our model-based Fair Value estimate is kr 27.03, implying the stock looks roughly 15.8% overvalued today. The Quality Score stands at 50/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Sveafastigheter AB generated revenue of 1.6B SEK at a net margin of 20.7%. Revenue grew 5.9% year over year. It earns a return on equity of 2.2%. Net debt stands at 12.5B SEK. Fundamentals as of Jul 16, 2026

Our scenario range runs from kr 5.41 (bear case) to kr 27.03 (bull case); at kr 32.10, the current price sits above 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 30% 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 -2% fair-value upside, at -16%, SVEAF screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF kr 34.95 kr 107.33 80
Rev-Margin DCF kr 25.55 kr 104.18 74
Residual Income kr 50.17 kr 45.76 kr 31.53 61
All 14 models by family
DCF Models
FCF DCF kr 21.83 kr 110.92 38
5Y Revenue Exit kr 14.83 kr 80.41 39
5Y EBITDA Exit kr 31.80 kr 110.08 41
10Y Revenue Exit kr 38.79 kr 72.42 36
10Y EBITDA Exit kr 56.44 kr 166.52 37
Multiples
P/S Multiple kr 5.43 kr 7.24 kr 9.04 58
P/B Multiple kr 5.43 kr 7.24 kr 9.04 55
EV/EBIT kr 4.60 kr 26.03 kr 47.46 53
EV/EBITDA kr 6.12 kr 22.57 54
EV/Revenue kr 6.16 43
Asset-Based
NCAV (Graham) kr 37.82 kr 50.68 kr 75.65 50
Growth DCF
Growth DCF kr 34.95 kr 107.33 80
Rev-Margin DCF kr 25.55 kr 104.18 74
Economic Profit
Residual Income kr 50.17 kr 45.76 kr 31.53 61

Widest divergence: Asset-Based (kr 50.68) versus Multiples (kr 7.24). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.6B SEK
Revenue growth (YoY) +5.9%
Net margin 20.7%
Return on equity 2.2%
Free cash flow 657M SEK FY2025
P/E ratio 18.6
More key figures
Operating margin 45.0%
EPS (TTM) kr 1.62
EPS growth (YoY) +631%
Net debt 12.5B SEK FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 51 · Market factors (momentum, volatility) 38

Profitability 15
Margins and returns on capital today
Quality Growth 76
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 36
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 77
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 16
Distance to the 52-week high (market factor)
Net Issuance 42
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.

About the company

Sveafastigheter AB (publ), a real estate company, owns, builds, and manages residential properties in Sweden. It operates in Property Management and New Development segments. The company also develops and manages rental apartments and condominiums. In addition, it engages in the project development and building rights activities.

Full company description

Sveafastigheter AB (publ), a real estate company, owns, builds, and manages residential properties in Sweden. It operates in Property Management and New Development segments. The company also develops and manages rental apartments and condominiums. In addition, it engages in the project development and building rights activities. The company was founded in 2014 and is headquartered in Stockholm, Sweden. Sveafastigheter AB (publ) is a subsidiary of SBB i Norden AB (publ).

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sveafastigheter AB reported revenue of kr 1.5B in FY2025 versus kr 124M in FY2021, a compound +87.4%/yr. Reported net income was kr 84.0M in FY2025, compounding −45.3%/yr from FY2021.

Growth Quality 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.5B SEK
Latest YoY
+12.9%
Avg. growth/yr (3Y)
+15.3%
Revenue +87.4%/yr
FY21 kr 124M
FY22 kr 1.0B
FY23 kr 1.1B
FY24 kr 1.4B
FY25 kr 1.5B
Net income −45.3%/yr
FY21 kr 941M
FY22 −kr 2.8B
FY23 −kr 4.4B
FY24 −kr 1.1B
FY25 kr 84.0M

SVEAF screens 16% overvalued. Compare with Vingroup Joint Stock Company →

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Cite: Fair Value Calculator (2026). "Sveafastigheter AB Fair Value". https://www.fairvalue-calculator.com/stock/SVEAF

Peer Group

Real Estate Services · 521 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 51 · Below median
Fair Value upside −16% · Below median
Return on equity (TTM) 2% · Below median
Return on assets 2% · Below median
Net margin (TTM) 21% · Above median
Operating margin (TTM) 45% · Above median
Revenue growth 6% · Above median
Debt / equity 0.82× · Higher than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 18.6× · Pricier than median
P/B 0.40× · Cheaper than median
P/S (TTM) 3.82× · Pricier than median
P/FCF 1.0× · Cheaper than median
EV/EBITDA 22.2× · Pricier than 75% of peers

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.

VALUE 12 · sector 37
FUTURE 30 · sector 10
PAST 9 · sector 16
HEALTH 59 · sector 85
DIVIDEND 0 · sector 49

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Vingroup Joint Stock Company VIC 223,000 VND 25,731 VND -88%
KE Holdings 2423 HK$44.76 HK$18.03 -60%
Swire Properties Limited 1972 HK$23.90 HK$18.75 -22%
Plaza S.A MALLPLAZA 3,725 CLP 5,571 CLP +50%
SAGAA SAGAA kr 170.00 kr 75.55 -56%
Cencosud Shopping S.A CENCOMALLS 2,324 CLP 2,976 CLP +28%
PT Sarana Menara Nusantara Tbk. owns and TOWR 372.00 IDR 1,208 IDR +225%
PT Metropolitan Kentjana Tbk MKPI 20,975 IDR 19,160 IDR -9%
PT Bangun Kosambi Sukses Tbk, CBDK 3,530 IDR 3,464 IDR -2%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 3,998 ARS +60%

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Frequently asked questions

Is Sveafastigheter AB (SVEAF) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of kr 27.03 versus a price of kr 32.10, about −16% (overvalued).
What is the fair value of SVEAF?
Our model-based fair value for Sveafastigheter AB is kr 27.03 (as of Jul 16, 2026), built from audited fundamentals. The current price is kr 32.10.
What is the quality score of SVEAF?
Sveafastigheter AB has a Quality Score of 50/100. 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 Sveafastigheter AB (SVEAF)?
Sveafastigheter AB reported trailing-twelve-month revenue of about 1.6B SEK (latest available figure, as of Jul 16, 2026).
What is the net profit margin of SVEAF?
The net profit margin of Sveafastigheter AB is about 20.7%, meaning it keeps roughly 20.7% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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