Sveafastigheter AB (SE:SVEAF)
:SVEAF
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Sveafastigheter AB
(SVEAF)
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Rating:54Neutral
Price Target:
kr34.00
▼(-3.35% Downside)
Action:Reiterated
Date:06/02/26
The score is driven primarily by mixed financial performance: strong recent margin and revenue recovery, but high historical volatility and only moderate debt coverage from operating cash flow. Technicals are a significant drag due to a clear downtrend and weak momentum. Valuation is neutral-to-slightly supportive at a mid-range P/E, but with no dividend yield to offset the risk profile.
Positive Factors
Revenue and margin recovery
Revenue surged ~143% into 2026 TTM with gross margin ~64% and net margin ~21%. Sustained higher top-line and margin levels enhance the company's ability to convert sales into profits and cash, supporting reinvestment in properties and reducing reliance on external financing over months.
Negative Factors
Earnings and cash-flow volatility
The company experienced multi-year earnings and cash-flow volatility, including large losses in 2023–2024 and negative operating cash flow in 2023. These swings reduce confidence in earnings quality and durability, complicating long-term planning, financing of development pipelines, and investor predictability.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and margin recovery
Revenue surged ~143% into 2026 TTM with gross margin ~64% and net margin ~21%. Sustained higher top-line and margin levels enhance the company's ability to convert sales into profits and cash, supporting reinvestment in properties and reducing reliance on external financing over months.
Read all positive factors
Sveafastigheter AB (SVEAF) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr6.32B
Dividend YieldN/A
Average Volume (3M)379.48K
Price to Earnings (P/E)19.5
Beta (1Y)0.54
Revenue Growth8.85%
EPS GrowthN/A
CountrySE
Employees177
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)1.61
Shares Outstanding200,000,000
10 Day Avg. Volume411,702
30 Day Avg. Volume379,478
Financial Highlights & Ratios
PEG Ratio-0.92
Price to Book (P/B)0.55
Price to Sales (P/S)5.31
P/FCF Ratio12.41
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr38.00Price Target Upside8.02% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)2.2
Revenue Forecast (FY)kr1.62B
Sveafastigheter AB Business Overview & Revenue Model
Company Description
Sveafastigheter AB (publ) operates as a real estate firm primarily focused on acquiring, developing, and overseeing residential properties throughout Sweden. The company's activities are structured across two main divisions: Property Management an...
Sveafastigheter AB Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
62
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.56B | 1.54B | 1.36B | 1.13B | 1.00B | 124.45M |
| Gross Profit | 992.00M | 1.01B | 861.00M | 684.00M | 596.00M | 41.89M |
| EBITDA | 797.00M | 498.00M | -517.00M | -4.59B | -2.67B | 992.60M |
| Net Income | 323.00M | 84.00M | -1.13B | -4.38B | -2.83B | 940.80M |
Balance Sheet | ||||||
| Total Assets | 30.57B | 30.17B | 29.08B | 3.12B | 3.57B | 3.71B |
| Cash, Cash Equivalents and Short-Term Investments | 279.00M | 501.00M | 308.00M | 31.26M | 284.44M | 319.99M |
| Total Debt | 13.18B | 13.02B | 12.37B | 1.39B | 821.79M | 699.07M |
| Total Liabilities | 15.46B | 15.24B | 14.24B | 1.81B | 2.10B | 1.93B |
| Stockholders Equity | 15.11B | 14.93B | 14.85B | 1.31B | 1.47B | 1.79B |
Cash Flow | ||||||
| Free Cash Flow | 633.00M | 657.00M | 728.00M | -209.00M | 976.46K | 54.67M |
| Operating Cash Flow | 634.00M | 657.00M | 728.00M | -209.00M | 976.46K | 54.67M |
| Investing Cash Flow | -1.19B | -1.13B | -928.00M | -2.23B | -300.36M | -743.82M |
| Financing Cash Flow | 643.00M | 665.00M | 192.00M | -160.00M | 300.26M | 1.00B |
Sveafastigheter AB Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
61 Neutral | kr1.74B | 6.72 | ― | 1.67% | 2.99% | 84.31% | |
60 Neutral | kr432.40M | 9.09 | ― | 5.79% | 2.46% | 170.44% | |
54 Neutral | kr6.32B | 19.52 | ― | ― | 8.85% | ― | |
42 Neutral | kr204.33M | 42.37 | ― | 5.48% | 9.17% | 130.03% |
* Real Estate Sector Average
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Sveafastigheter AB Corporate Events
Sveafastigheter Calls Extraordinary Meeting to Approve Merger with KlaraBo
May 27, 2026
Sveafastigheter AB has called an Extraordinary General Meeting for 26 June 2026 in Stockholm, setting out detailed participation rules for shareholders, including record dates, proxy procedures and requirements for nominee-registered shares. The c...
Fitch Places Sveafastigheter on Positive Watch After Planned Merger with KlaraBo
May 18, 2026
Fitch Ratings has placed Sveafastigheter’s BBB- long-term issuer and senior unsecured debt ratings on Rating Watch Positive following the company’s planned all-equity merger with residential property group KlaraBo. Fitch signaled that,...
Sveafastigheter and KlaraBo Plan Merger to Form Largest Listed Swedish Residential Landlord
May 18, 2026
Sveafastigheter AB and KlaraBo Sverige AB have agreed on a merger plan that will combine their operations and cement Sveafastigheter’s role as the largest listed residential property company on Nasdaq Stockholm. The move brings together two ...
Sveafastigheter and KlaraBo in merger to form Nasdaq’s largest listed residential landlord
May 18, 2026
Sveafastigheter and KlaraBo have agreed to merge through a statutory transaction that will see Sveafastigheter absorb KlaraBo, while KlaraBo simultaneously acquires a 4,100-apartment portfolio from SBB already managed by Sveafastigheter. The combi...
Sveafastigheter AGM Backs No Dividend and Expands Capital Flexibility
May 5, 2026
Sveafastigheter AB’s 2026 Annual General Meeting voted to retain 2025 profits in the company and not distribute a dividend, signaling a focus on balance sheet strength and reinvestment rather than cash returns to shareholders. Shareholders d...
Sveafastigheter boosts Q1 profit, secures new financing and development pipeline
Apr 23, 2026
Sveafastigheter reported a solid first quarter, with rental income up 6.0 percent to SEK 398m and net operating income up 5.3 percent to SEK 202m, driven by a strong comparable portfolio and high occupancy of 95.5 percent. Profit for the period su...
Sveafastigheter Sells Nacka Housing Project Solhusen to Acer Bostad
Apr 22, 2026
Sveafastigheter has agreed to divest its Solhusen new-build residential project in Nacka, near Stockholm, to local rental housing platform Acer Bostad, in a share deal valuing the property at SEK 438 million. The project, due for completion in the...
Sveafastigheter Sets April 23 Presentation for Q1 2026 Interim Report
Apr 9, 2026
Sveafastigheter AB will publish its interim report for the period January to March 2026 on April 23 at 07:30 CET, with CEO Erik Hävermark and CFO Stina Carlson presenting the results via an English-language conference call and webcast at 09:0...
Sveafastigheter Calls 2026 AGM, Proposes Smaller Board and New Incentive Plan
Mar 31, 2026
Sveafastigheter AB has called its Annual General Meeting for 5 May 2026 in Stockholm, setting the formal framework for shareholder participation through advance registration and, where applicable, proxy and nominee procedures. The meeting will rev...
Sveafastigheter Highlights Integrated Housing and ESG Focus in 2025 Report
Mar 24, 2026
Sveafastigheter AB’s 2025 annual report outlines its operations across property management and new residential development, set against the dynamics of the Swedish housing market. The document details the company’s business model, fina...
Sveafastigheter Launches SEK 100 Million Share Buyback to Optimize Capital Structure
Mar 10, 2026
Sveafastigheter’s board has resolved to initiate a share repurchase program of up to SEK 100 million, under an existing mandate from the 2025 AGM, with purchases to be carried out on Nasdaq Stockholm until the 2026 AGM. The buyback, which wi...
Sveafastigheter Streamlines Board and Adds Aker Executive Ahead of 2026 AGM
Mar 9, 2026
Sveafastigheter’s nomination committee has proposed the re-election of board members Peter Wågström, Peder Johnson, Leiv Synnes, Christer Nerlich and Jenny Wärmé, while putting forward Aker Property Group CEO Jens-Fredrik...
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.