Castellum AB (publ)

OM:CAST Stock Report

Market Cap: SEK 61.6b

Castellum Valuation

Is CAST undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CAST when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CAST (SEK125.05) is trading above our estimate of fair value (SEK71.21)

Significantly Below Fair Value: CAST is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CAST?

Key metric: As CAST is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for CAST. This is calculated by dividing CAST's market cap by their current revenue.
What is CAST's PS Ratio?
PS Ratio5.9x
SalesSEK 10.39b
Market CapSEK 61.58b

Price to Sales Ratio vs Peers

How does CAST's PS Ratio compare to its peers?

The above table shows the PS ratio for CAST vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average16.7x
SAGA A AB Sagax
22.7x9.9%SEK 83.8b
BALD B Fastighets AB Balder
7.7x3.5%SEK 97.6b
AKEL D Akelius Residential Property
28.5xn/a€10.0b
WIHL Wihlborgs Fastigheter
8.1x5.6%SEK 33.2b
CAST Castellum
5.9x0.1%SEK 61.6b

Price-To-Sales vs Peers: CAST is good value based on its Price-To-Sales Ratio (5.9x) compared to the peer average (16.7x).

Price to Sales Ratio vs Industry

How does CAST's PS Ratio compare vs other companies in the SE Real Estate Industry?

6 CompaniesPrice / SalesEstimated GrowthMarket Cap
HEIM PREF Heimstaden
0.1xn/aUS$241.83m
WBGR B Wästbygg Gruppen
0.2x0.2%US$87.37m
FASTAT Aktiebolaget Fastator
0.2xn/aUS$8.24m
SAMT B Samtrygg Group
0.07xn/aUS$3.16m
CAST 5.9xIndustry Avg. 5.4xNo. of Companies10PS02.85.68.411.214+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: CAST is expensive based on its Price-To-Sales Ratio (5.9x) compared to the Swedish Real Estate industry average (5.3x).

Price to Sales Ratio vs Fair Ratio

What is CAST's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CAST PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio5.9x
Fair PS Ratio9.1x

Price-To-Sales vs Fair Ratio: CAST is good value based on its Price-To-Sales Ratio (5.9x) compared to the estimated Fair Price-To-Sales Ratio (9.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CAST forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 125.05
SEK 129.18
+3.3%
12.1%SEK 150.00SEK 106.00n/a11
Nov ’25SEK 131.15
SEK 130.18
-0.7%
11.1%SEK 150.00SEK 110.00n/a11
Oct ’25SEK 150.15
SEK 130.00
-13.4%
11.9%SEK 155.00SEK 110.00n/a11
Sep ’25SEK 140.45
SEK 128.22
-8.7%
15.4%SEK 155.00SEK 90.00n/a9
Aug ’25SEK 134.40
SEK 127.11
-5.4%
14.5%SEK 150.00SEK 90.00n/a9
Jul ’25SEK 129.80
SEK 124.00
-4.5%
13.7%SEK 145.00SEK 90.00n/a10
Jun ’25SEK 130.55
SEK 123.70
-5.2%
15.5%SEK 150.00SEK 90.00n/a10
May ’25SEK 133.30
SEK 124.89
-6.3%
15.9%SEK 150.00SEK 90.00n/a9
Apr ’25SEK 140.90
SEK 126.90
-9.9%
15.6%SEK 150.00SEK 90.00n/a10
Mar ’25SEK 128.15
SEK 124.30
-3.0%
16.3%SEK 150.00SEK 90.00n/a10
Feb ’25SEK 134.15
SEK 124.90
-6.9%
19.1%SEK 150.00SEK 89.00n/a10
Jan ’25SEK 143.30
SEK 118.90
-17.0%
17.8%SEK 145.00SEK 84.00n/a10
Dec ’24SEK 129.25
SEK 118.00
-8.7%
18.7%SEK 145.00SEK 85.00n/a10
Nov ’24SEK 106.90
SEK 117.60
+10.0%
18.1%SEK 145.00SEK 86.00SEK 131.1510
Oct ’24SEK 111.35
SEK 119.90
+7.7%
19.8%SEK 160.00SEK 89.00SEK 150.1510
Sep ’24SEK 115.20
SEK 119.40
+3.6%
20.4%SEK 160.00SEK 85.00SEK 140.4510
Aug ’24SEK 118.20
SEK 120.30
+1.8%
19.4%SEK 160.00SEK 85.00SEK 134.4010
Jul ’24SEK 102.95
SEK 121.00
+17.5%
24.5%SEK 180.00SEK 85.00SEK 129.809
Jun ’24SEK 102.35
SEK 121.44
+18.6%
23.9%SEK 180.00SEK 75.60SEK 130.558
May ’24SEK 124.30
SEK 143.00
+15.0%
20.2%SEK 180.00SEK 90.00SEK 133.308
Apr ’24SEK 120.40
SEK 143.00
+18.8%
20.2%SEK 180.00SEK 90.00SEK 140.908
Mar ’24SEK 128.30
SEK 139.00
+8.3%
17.7%SEK 180.00SEK 100.00SEK 128.157
Feb ’24SEK 145.80
SEK 146.20
+0.3%
18.4%SEK 182.00SEK 100.00SEK 134.1510
Jan ’24SEK 126.25
SEK 137.10
+8.6%
16.6%SEK 173.00SEK 100.00SEK 143.3010
Dec ’23SEK 129.80
SEK 137.30
+5.8%
16.5%SEK 173.00SEK 100.00SEK 129.2510
Nov ’23SEK 131.90
SEK 144.50
+9.6%
10.5%SEK 173.00SEK 125.00SEK 106.9010

Analyst Forecast: Target price is less than 20% higher than the current share price.

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