Bonava AB Class B (BONAV.B) AI Stock Analysis

Bonava AB Class B

(Nasdaq OMX AB:BONAV.B)

Select Model

Rating:45Neutral

Price Target:SEK 7.50▲(3.88% Upside)

Action:reiterated

Date:10/27/26

The score is primarily constrained by negative operating and free cash flow, higher leverage, and weak technical momentum. Near break-even profitability and a positive EBIT margin provide some support, but the negative P/E and lack of dividend income keep the overall score low.

Positive Factors

Integrated Nordic Residential Development PlatformBonava’s end-to-end development model and presence across several Nordic and Baltic markets provide operational capabilities that can be reused across projects. Geographic diversification and control of planning, sales, and delivery support a durable platform for housing development.

Negative Factors

Deeply Negative Cash GenerationSeverely negative operating and free cash flow shows that reported earnings are not currently converting into cash. Persistent working-capital and inventory outflows could pressure liquidity, increase financing needs, and limit Bonava’s ability to fund new projects internally.

Bonava AB Class B (BONAV.B) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 2.33B
Dividend Yield: ―
Average Volume (3M): 635.60K
Price to Earnings (P/E): -1805.0
Beta (1Y): 0.82
Revenue Growth: -4.88%
EPS Growth: ―
Country: Sweden
Employees: 900
Sector: Consumer Cyclical
Sector Strength: 61
Industry: Real Estate - Development

Bonava AB Class B Business Overview & Revenue Model

Company Description

Bonava AB (publ), together with its subsidiaries, operates as a residential developer in Germany, Sweden, Finland, Estonia, Latvia, and Lithuania. The company constructs, develops, and sells multi-family and single-family homes, as well as semi-detac...

How the Company Makes Money

Bonava makes money by developing residential housing projects and recognizing revenue when homes are sold and delivered (i.e., at handover/completion, depending on contract terms and applicable accounting). The main revenue stream is proceeds from th...

Bonava AB Class B Financial Statement Overview

Summary

Operational performance improved to a 5.3% EBIT margin and near break-even net income, but revenue declined, leverage increased, and sharply negative TTM operating and free cash flow materially weaken financial quality.

Income Statement

55Neutral

Balance Sheet

60Neutral

Cash Flow

25Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	7.24B	7.72B	8.19B	13.27B	13.99B	14.75B
Gross Profit	1.07B	987.00M	680.00M	1.42B	1.69B	1.93B
EBITDA	387.00M	547.00M	179.00M	-468.00M	985.00M	1.21B
Net Income	1.00M	-89.00M	-518.00M	-1.34B	-303.00M	808.00M
Balance Sheet
Total Assets	17.80B	15.65B	17.24B	19.10B	25.58B	23.71B
Cash, Cash Equivalents and Short-Term Investments	334.00M	220.00M	593.00M	180.00M	119.00M	1.07B
Total Debt	5.29B	3.64B	4.31B	5.82B	7.13B	4.47B
Total Liabilities	10.97B	8.70B	10.06B	12.50B	17.59B	15.39B
Stockholders Equity	6.82B	6.95B	7.18B	6.60B	7.98B	8.32B
Cash Flow
Free Cash Flow	-1.28B	374.00M	521.00M	-546.00M	-3.35B	619.00M
Operating Cash Flow	-1.26B	390.00M	566.00M	-337.00M	-3.24B	719.00M
Investing Cash Flow	511.00M	27.00M	56.00M	1.05B	-104.00M	-88.00M
Financing Cash Flow	693.00M	-781.00M	-237.00M	-833.00M	2.49B	-987.00M

Bonava AB Class B Technical Analysis

Technical Analysis SentimentNegative

Last Price7.22

Price Trends

50DMA8.87Negative

100DMA9.30Negative

200DMA9.74Negative

Market Momentum

MACD-0.46Positive

RSI28.31Positive

STOCH21.92Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BONAV.B, the sentiment is Negative. The current price of 7.22 is below the 20-day moving average (MA) of 8.06, below the 50-day MA of 8.87, and below the 200-day MA of 9.74, indicating a bearish trend. The MACD of -0.46 indicates Positive momentum. The RSI at 28.31 is Positive, neither overbought nor oversold. The STOCH value of 21.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:BONAV.B.

Bonava AB Class B Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

SE:BONAV.B against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:WALL.B	67Neutral	SEK 23.76B	8.16	8.97%	1.46%	1.91%	60.26%
SE:BALD.B	64Neutral	SEK 57.02B	8.75	6.66%	―	3.84%	-25.46%
SE:SFAST	62Neutral	SEK 3.55B	7.28	8.61%	2.46%	5.55%	130.73%
Sector *	61Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
SE:JOMA	60Neutral	SEK 3.88B	5.95	―	0.48%	5.25%	79.76%
SE:BONAV.B	45Neutral	SEK 2.33B	-1805.00	0.01%	―	-4.88%	―

* Consumer Cyclical Sector Average

Performance Comparison

SE:BONAV.B and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:BONAV.B	Bonava AB Class B	7.22	-3.48	-32.52%
SE:BALD.B	Fastighets AB Balder	49.45	-14.37	-22.51%
SE:WALL.B	Wallenstam AB	37.60	-5.90	-13.56%
SE:BESQAB	Aros Bostadsutveckling AB	24.20	-0.70	-2.81%
SE:SFAST	Stenhus Fastigheter i Norden AB	10.56	0.18	1.77%
SE:JOMA	John Mattson Fastighetsforetagen AB	52.00	-13.73	-20.89%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 27, 2026

Bonava AB Class B AI Stock Analysis