Nivika Fastigheter AB (publ)

OM:NIVI B Stock Report

Market Cap: SEK 3.9b

Nivika Fastigheter Valuation

Is NIVI B 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-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: NIVI B (SEK40.8) is trading above our estimate of fair value (SEK28.08)

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


Key Valuation Metric

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

Key metric: As NIVI B is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for NIVI B. This is calculated by dividing NIVI B's market cap by their current earnings.
What is NIVI B's PE Ratio?
PE Ratio29.6x
EarningsSEK 132.20m
Market CapSEK 3.91b

Price to Earnings Ratio vs Peers

How does NIVI B's PE Ratio compare to its peers?

The above table shows the PE ratio for NIVI B vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average35x
EAST Eastnine
56.9x62.9%SEK 4.2b
HEIM PREF Heimstaden
8.5xn/aSEK 3.3b
EMIL B Fastighetsbolaget Emilshus
51.2x29.7%SEK 5.9b
SLP B Swedish Logistic Property
23.2x20.4%SEK 9.8b
NIVI B Nivika Fastigheter
29.6x43.9%SEK 3.9b

Price-To-Earnings vs Peers: NIVI B is good value based on its Price-To-Earnings Ratio (29.6x) compared to the peer average (35x).


Price to Earnings Ratio vs Industry

How does NIVI B's PE Ratio compare vs other companies in the SE Real Estate Industry?

6 CompaniesPrice / EarningsEstimated GrowthMarket Cap
AJA B Byggmästare Anders J Ahlström Holding
2.6xn/aUS$179.96m
TORSAB Torslanda Property Investment
1.8xn/aUS$95.65m
TITA B Titania Holding
2.1x-1.3%US$54.15m
HALMEN Halmslätten Fastighets
1.2xn/aUS$35.58m
NIVI B 29.6xIndustry Avg. 29.6xNo. of Companies6PE020406080100+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NIVI B is expensive based on its Price-To-Earnings Ratio (29.6x) compared to the Swedish Real Estate industry average (29.6x).


Price to Earnings Ratio vs Fair Ratio

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

NIVI B PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio29.6x
Fair PE Ratio35.8x

Price-To-Earnings vs Fair Ratio: NIVI B is good value based on its Price-To-Earnings Ratio (29.6x) compared to the estimated Fair Price-To-Earnings Ratio (35.8x).


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 NIVI B forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 40.80
SEK 52.00
+27.5%
5.8%SEK 55.00SEK 49.00n/a2
Dec ’25SEK 41.80
SEK 52.00
+24.4%
5.8%SEK 55.00SEK 49.00n/a2
Nov ’25SEK 41.60
SEK 52.00
+25.0%
5.8%SEK 55.00SEK 49.00n/a2
Oct ’25SEK 45.00
SEK 50.50
+12.2%
8.9%SEK 55.00SEK 46.00n/a2
Sep ’25SEK 43.80
SEK 50.50
+15.3%
8.9%SEK 55.00SEK 46.00n/a2
Aug ’25SEK 45.20
SEK 50.50
+11.7%
8.9%SEK 55.00SEK 46.00n/a2
Jul ’25SEK 39.10
SEK 41.00
+4.9%
2.4%SEK 42.00SEK 40.00n/a2
Jun ’25SEK 43.20
SEK 41.00
-5.1%
2.4%SEK 42.00SEK 40.00n/a2
May ’25SEK 34.90
SEK 41.00
+17.5%
2.4%SEK 42.00SEK 40.00n/a2
Apr ’25SEK 33.90
SEK 41.00
+20.9%
2.4%SEK 42.00SEK 40.00n/a2

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.


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