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Swedish (OMX) Real Estate Sector Analysis

UpdatedNov 14, 2025
DataAggregated Company Financials
Companies58
  • 7D-1.8%
  • 3M-1.4%
  • 1Y-12.5%
  • YTD-8.8%

Over the last 7 days, the Real Estate industry has dropped 1.8%, driven by AB Sagax declining 3.3%. Overall the industry is down 12% in 12 months. As for the next few years, earnings are expected to grow by 15% per annum.

Sector Valuation and Performance

Has the Swedish Real Estate Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 16 Nov 2025SEK 609.5bSEK 121.0bSEK 43.0b14.8x14.2x5x
Tue, 14 Oct 2025SEK 617.3bSEK 119.9bSEK 31.4b17.3x19.7x5.1x
Thu, 11 Sep 2025SEK 600.9bSEK 119.9bSEK 30.7b17.4x19.6x5x
Sat, 09 Aug 2025SEK 627.1bSEK 120.3bSEK 27.3b18.5x23x5.2x
Mon, 07 Jul 2025SEK 650.8bSEK 119.9bSEK 28.5b20.8x22.9x5.4x
Wed, 04 Jun 2025SEK 616.7bSEK 120.6bSEK 28.6b18.6x21.5x5.1x
Fri, 02 May 2025SEK 617.6bSEK 120.7bSEK 18.6b21.7x33.2x5.1x
Sun, 30 Mar 2025SEK 601.5bSEK 120.0bSEK 16.5b20x36.5x5x
Tue, 25 Feb 2025SEK 654.9bSEK 121.9bSEK 11.9b23.1x54.8x5.4x
Thu, 23 Jan 2025SEK 659.5bSEK 119.5b-SEK 28,921,334,662.5728.2x-22.8x5.5x
Sat, 21 Dec 2024SEK 658.2bSEK 119.5b-SEK 28,921,859,685.3528.4x-22.8x5.5x
Mon, 18 Nov 2024SEK 674.1bSEK 121.5b-SEK 29,764,922,101.7745.5x-22.6x5.5x
Wed, 16 Oct 2024SEK 737.5bSEK 117.6b-SEK 39,758,899,189.2257x-18.5x6.3x
Fri, 13 Sep 2024SEK 717.9bSEK 117.5b-SEK 39,871,037,979.4256.2x-18x6.1x
Sun, 11 Aug 2024SEK 697.7bSEK 116.7b-SEK 53,209,833,659.7457.7x-13.1x6x
Tue, 09 Jul 2024SEK 682.4bSEK 115.1b-SEK 60,530,887,673.2062.8x-11.3x5.9x
Thu, 06 Jun 2024SEK 667.5bSEK 115.2b-SEK 62,010,237,202.3532.2x-10.8x5.8x
Sat, 04 May 2024SEK 625.5bSEK 110.2b-SEK 49,249,450,081.3725.6x-12.7x5.7x
Mon, 01 Apr 2024SEK 660.8bSEK 113.3b-SEK 69,664,374,404.0426.5x-9.5x5.8x
Wed, 28 Feb 2024SEK 579.1bSEK 115.1b-SEK 96,319,498,550.2821.8x-6x5x
Fri, 26 Jan 2024SEK 610.2bSEK 113.5b-SEK 90,538,256,937.0022.8x-6.7x5.4x
Sun, 24 Dec 2023SEK 648.6bSEK 113.5b-SEK 89,780,425,069.0023.7x-7.2x5.7x
Tue, 21 Nov 2023SEK 558.9bSEK 113.6b-SEK 89,453,394,184.0018.2x-6.2x4.9x
Thu, 19 Oct 2023SEK 464.5bSEK 110.4b-SEK 79,370,857,168.0017.1x-5.9x4.2x
Sat, 16 Sep 2023SEK 532.5bSEK 110.1b-SEK 78,412,155,188.0018.3x-6.8x4.8x
Mon, 14 Aug 2023SEK 540.1bSEK 108.7b-SEK 70,998,687,154.0019.7x-7.6x5x
Wed, 12 Jul 2023SEK 507.9bSEK 113.8b-SEK 45,249,684,225.0015.8x-11.2x4.5x
Fri, 09 Jun 2023SEK 496.5bSEK 113.3b-SEK 34,210,300,641.0015x-14.5x4.4x
Sun, 07 May 2023SEK 522.1bSEK 112.7b-SEK 22,728,477,840.0012.2x-23x4.6x
Tue, 04 Apr 2023SEK 528.8bSEK 111.5bSEK 36.7b8.8x14.4x4.7x
Thu, 02 Mar 2023SEK 570.5bSEK 110.5bSEK 37.9b8.7x15.1x5.2x
Sat, 28 Jan 2023SEK 634.7bSEK 111.2bSEK 119.9b5.6x5.3x5.7x
Mon, 26 Dec 2022SEK 553.2bSEK 111.2bSEK 120.0b5x4.6x5x
Wed, 23 Nov 2022SEK 541.7bSEK 111.4bSEK 121.4b4.4x4.5x4.9x
Price to Earnings Ratio

4.5x


Total Market Cap: SEK 541.7bTotal Earnings: SEK 121.4bTotal Revenue: SEK 111.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Real Estate Sector Price to Earnings3Y Average -3.5x202320242025
Current Industry PE
  • Investors are pessimistic on the Swedish Real Estate industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 14.2x which is higher than its 3-year average PE of -3.5x.
  • The industry is trading close to its 3-year average PS ratio of 5.2x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have declined 29% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.8% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the Swedish Real Estate sector?

SE Market0.73%
Real Estate-1.76%
Real Estate-1.76%
Industry PE
  • Investors are most optimistic about the Real Estate industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 15.0%, which is lower than the prior year's growth of 414.0% per year.
  • Investors are most pessimistic about the Real Estate industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 15% over the next 5 years.
  • In contrast, the Real Estate industry is expected to see its earnings grow by 15% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
WIHL Wihlborgs FastigheterSEK 94.000.4%
+SEK 123.0m		-13.7%PE13x
HUFV A HufvudstadenSEK 130.300.5%
+SEK 118.2m		3.8%PE23.3x
CAST CastellumSEK 106.800.1%
+SEK 73.8m		-15.8%PE17.3x
ALM ALM EquitySEK 48.907.5%
+SEK 59.0m		-73.3%PS0.4x
FNOVA B Fortinova FastigheterSEK 26.803.9%
+SEK 51.3m		-11.0%PE8.1x

Latest News

AGROUP
SEK 31.70
Arlandastad Group
7D
2.6%
1Y
-0.9%
SBB B
SEK 4.37
Samhällsbyggnadsbolaget i Norden
7D
-7.8%
1Y
7.1%

SBB B: Rising Discount Rates Will Drive Steep Decline In Profit Margins

Analysts have lowered their fair value estimate for Samhällsbyggnadsbolaget i Norden from SEK 4.40 to SEK 2.80. They cited increased discount rates and a notable reduction in projected profit margins as key factors.
HUFV A
SEK 130.30
Hufvudstaden
7D
0.5%
1Y
3.8%

Hufvudstaden AB (publ) Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

Nov 09
Hufvudstaden AB (publ) Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now
PNDX B
SEK 190.80
Pandox
7D
-1.9%
1Y
3.5%

PNDX B: Revenue Gains Are Expected To Offset Margin Pressure Ahead

Pandox's analyst price target remains unchanged at 220. Analysts anticipate that improved revenue growth will outweigh the impact of a slightly higher discount rate and lower profit margin expectations.
FABG
SEK 81.75
Fabege
7D
-2.7%
1Y
-2.5%
NP3
SEK 248.00
NP3 Fastigheter
7D
-3.3%
1Y
0.8%

NP3 Fastigheter's (STO:NP3) Dividend Will Be SEK1.30

Nov 07
NP3 Fastigheter's (STO:NP3) Dividend Will Be SEK1.30
STUDBO
SEK 1.75
Studentbostäder i Norden
7D
2.6%
1Y
10.8%
FNOVA B
SEK 26.80
Fortinova Fastigheter
7D
3.9%
1Y
-11.0%

Impressive Earnings May Not Tell The Whole Story For Fortinova Fastigheter (STO:FNOVA B)

Nov 06
Impressive Earnings May Not Tell The Whole Story For Fortinova Fastigheter (STO:FNOVA B)
WIHL
SEK 94.00
Wihlborgs Fastigheter
7D
0.4%
1Y
-13.7%

WIHL: Long-Term Value Creation Will Stem From Expanding Core Asset Base

Analysts have lowered their price target for Wihlborgs Fastigheter from SEK 110.40 to SEK 109.60. The modest decrease reflects more cautious estimates on valuation and future growth prospects.
BALD B
SEK 66.84
Fastighets AB Balder
7D
-2.1%
1Y
-19.6%

Fastighets AB Balder's (STO:BALD B) Solid Profits Have Weak Fundamentals

Nov 05
Fastighets AB Balder's (STO:BALD B) Solid Profits Have Weak Fundamentals
JOMA
SEK 66.60
John Mattson Fastighetsföretagen
7D
0.6%
1Y
4.4%
SAGA A
SEK 204.00
AB Sagax
7D
-3.3%
1Y
-16.0%

AB Sagax's (STO:SAGA A) Shareholders Have More To Worry About Than Only Soft Earnings

Nov 01
AB Sagax's (STO:SAGA A) Shareholders Have More To Worry About Than Only Soft Earnings
CAST
SEK 106.80
Castellum
7D
0.1%
1Y
-15.8%

We Like The Quality Of Castellum's (STO:CAST) Earnings

Oct 31
We Like The Quality Of Castellum's (STO:CAST) Earnings
NYF
SEK 76.30
Nyfosa
7D
-2.8%
1Y
-28.3%

We Think Nyfosa's (STO:NYF) Solid Earnings Are Understated

Oct 31
We Think Nyfosa's (STO:NYF) Solid Earnings Are Understated
WALL B
SEK 42.92
Wallenstam
7D
-1.5%
1Y
-13.0%

Wallenstam's (STO:WALL B) Solid Earnings May Rest On Weak Foundations

Oct 29
Wallenstam's (STO:WALL B) Solid Earnings May Rest On Weak Foundations
ALM
SEK 48.90
ALM Equity
7D
7.5%
1Y
-73.3%