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Eastnine AB
(EAST)
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Rating:70Outperform
Price Target:
kr52.00
▲(13.79% Upside)
Action:Upgraded
Date:07/11/26
The score is supported primarily by solid financial performance (strong cash generation and improved balance sheet) and a positive technical setup (trading above major moving averages with bullish MACD). These strengths are tempered by volatility in revenue and reported earnings, suggesting a meaningful one-off/non-recurring element, while valuation is fair rather than compelling.
Positive Factors
Cash generation
Robust trailing-twelve-month operating and free cash flows indicate strong cash conversion and internal funding capacity. Near-parity of FCF to net income (~0.97) supports durable distributions, capex funding and debt servicing without depending on external capital.
Negative Factors
Revenue volatility
Severe top-line swings reduce predictability of core cash flows and complicate long-term planning. Large drops in reported revenue can reflect asset sales, lease expiries or cyclical weakness, making sustainable revenue run-rate and covenant coverage uncertain over months.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Robust trailing-twelve-month operating and free cash flows indicate strong cash conversion and internal funding capacity. Near-parity of FCF to net income (~0.97) supports durable distributions, capex funding and debt servicing without depending on external capital.
Read all positive factors
Eastnine AB (EAST) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr4.52B
Dividend Yield2.72%
Average Volume (3M)66.51K
Price to Earnings (P/E)15.0
Beta (1Y)0.46
Revenue Growth10.93%
EPS Growth-8.55%
CountrySE
Employees32
SectorGeneral
Sector StrengthN/A
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.27
Shares Outstanding98,241,730
10 Day Avg. Volume78,509
30 Day Avg. Volume66,506
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.97
Price to Sales (P/S)7.72
P/FCF Ratio84.31
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.31
Revenue Forecast (FY)kr62.00M
Eastnine AB Business Overview & Revenue Model
Company Description
Eastnine AB (publ), formerly known as East Capital Explorer AB, is a specialized firm dedicated to real estate investments. Founded in November 2007, the company underwent a strategic transformation at the start of 2017, shifting its investment st...
How the Company Makes Money
Eastnine primarily makes money through rental income from leasing office space to tenants in its owned properties. Revenue is generated via lease contracts that typically include base rent and may also include recoveries/charges related to propert...
Eastnine AB Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
70
Positive
Cash Flow
76
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 53.17M | 58.65M | 41.52M | 36.17M | 30.30M | 21.53M |
| Gross Profit | 58.09M | 58.65M | 41.52M | 36.17M | 30.30M | 21.53M |
| EBITDA | 57.45M | 58.72M | 0.00 | 191.00K | 183.00K | 174.00K |
| Net Income | 26.46M | 42.52M | 5.91M | -72.05M | 108.56M | 72.33M |
Balance Sheet | ||||||
| Total Assets | 1.03B | 1.03B | 982.64M | 713.12M | 837.47M | 652.52M |
| Cash, Cash Equivalents and Short-Term Investments | 71.25M | 50.65M | 31.18M | 128.62M | 19.82M | 29.20M |
| Total Debt | 498.19M | 512.28M | 454.85M | 286.44M | 329.10M | 242.42M |
| Total Liabilities | 560.19M | 562.81M | 545.38M | 312.94M | 358.97M | 276.52M |
| Stockholders Equity | 469.03M | 467.90M | 437.26M | 400.18M | 478.51M | 375.99M |
Cash Flow | ||||||
| Free Cash Flow | 50.53M | 5.37M | 24.71M | 16.70M | 19.52M | 17.39M |
| Operating Cash Flow | 51.88M | 5.79M | 24.73M | 16.73M | 19.55M | 17.49M |
| Investing Cash Flow | 21.57M | -2.13M | -324.88M | 141.33M | -108.26M | -75.45M |
| Financing Cash Flow | -10.54M | -4.57M | 202.69M | -49.27M | 79.28M | 62.94M |
Eastnine AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | kr4.52B | 14.96 | ― | 2.72% | 10.93% | -8.55% | |
69 Neutral | kr8.48B | 11.43 | 5.59% | 3.06% | 0.52% | 80.58% | |
67 Neutral | kr23.64B | 10.68 | 9.03% | 4.35% | 6.89% | 15.60% | |
64 Neutral | kr15.17B | 17.91 | 5.18% | 3.73% | -2.62% | 488.91% | |
62 Neutral | kr21.26B | 51.13 | 1.15% | 3.08% | 12.54% | 114.41% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | kr6.07B | 13.23 | ― | ― | 7.77% | ― |
* General Sector Average
SE:EAST
Eastnine AB
45.55
0.45
1.01%
SE:FABG
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-9.50%
SE:WIHL
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75.80
-13.63
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SE:SVEAF
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Eastnine AB Corporate Events
Eastnine Boosts Balance Sheet With Riga Exit and Warsaw Office Acquisition
Jul 7, 2026
Eastnine reported stable rental income and a high surplus ratio for the second quarter of 2026, supported by lower property expenses and an economic occupancy rate of 96.5 percent despite slightly negative net lettings. The group’s profit fr...
Eastnine Doubles Warsaw Presence With EUR 300 Million Acquisition of Landmark Office Tower
Jul 7, 2026
Eastnine AB has agreed to acquire The Bridge, a newly developed 40‑storey landmark office tower in Warsaw’s central business district, from developer Ghelamco at an underlying property value of EUR 300 million. The 55,300 sq.m building...
Eastnine to Present Q2 2026 Interim Results to Market Stakeholders
Jul 2, 2026
Eastnine AB has scheduled the presentation of its interim report for the period January to June 2026, underscoring its transparency to the market. The Swedish office-focused real estate company will publish its second-quarter results on 7 July, fo...
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.