NP3 Fastigheter AB (publ)

OM:NP3 Stock Report

Market Cap: SEK 15.3b

NP3 Fastigheter Valuation

Is NP3 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • 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 NP3 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NP3 (SEK248.5) is trading below our estimate of fair value (SEK259.1)

Significantly Below Fair Value: NP3 is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NP3?

Key metric: As NP3 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for NP3. This is calculated by dividing NP3's market cap by their current earnings.
What is NP3's PE Ratio?
PE Ratio45.9x
EarningsSEK 333.00m
Market CapSEK 15.30b

Price to Earnings Ratio vs Peers

How does NP3's PE Ratio compare to its peers?

The above table shows the PE ratio for NP3 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average39.5x
CATE Catena
20.2x11.8%SEK 28.5b
WIHL Wihlborgs Fastigheter
64.7x40.7%SEK 32.1b
SLP B Swedish Logistic Property
23.3x20.4%SEK 9.9b
EMIL B Fastighetsbolaget Emilshus
49.6x29.7%SEK 5.7b
NP3 NP3 Fastigheter
45.9x32.2%SEK 15.3b

Price-To-Earnings vs Peers: NP3 is expensive based on its Price-To-Earnings Ratio (45.9x) compared to the peer average (39.5x).

Price to Earnings Ratio vs Industry

How does NP3'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
2.7xn/aUS$185.96m
TORSAB Torslanda Property Investment
1.8xn/aUS$95.65m
TITA B Titania Holding
2x-1.3%US$50.18m
HALMEN Halmslätten Fastighets
1.2xn/aUS$35.58m
NP3 45.9xIndustry Avg. 28.4xNo. of Companies6PE020406080100+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NP3 is expensive based on its Price-To-Earnings Ratio (45.9x) compared to the Swedish Real Estate industry average (28.2x).

Price to Earnings Ratio vs Fair Ratio

What is NP3'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.

NP3 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio45.9x
Fair PE Ratio36x

Price-To-Earnings vs Fair Ratio: NP3 is expensive based on its Price-To-Earnings Ratio (45.9x) compared to the estimated Fair Price-To-Earnings Ratio (36x).

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 NP3 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 248.50
SEK 305.00
+22.7%
1.6%SEK 310.00SEK 300.00n/a2
Dec ’25SEK 257.50
SEK 305.00
+18.4%
1.6%SEK 310.00SEK 300.00n/a2
Nov ’25SEK 255.00
SEK 305.00
+19.6%
1.6%SEK 310.00SEK 300.00n/a2
Oct ’25SEK 272.50
SEK 284.50
+4.4%
9.0%SEK 310.00SEK 259.00n/a2
Sep ’25SEK 269.00
SEK 284.50
+5.8%
9.0%SEK 310.00SEK 259.00n/a2
Aug ’25SEK 256.00
SEK 284.50
+11.1%
9.0%SEK 310.00SEK 259.00n/a2
Jul ’25SEK 257.00
SEK 251.50
-2.1%
5.4%SEK 265.00SEK 238.00n/a2
Jun ’25SEK 248.50
SEK 244.00
-1.8%
2.5%SEK 250.00SEK 238.00n/a2
May ’25SEK 232.00
SEK 225.50
-2.8%
10.9%SEK 250.00SEK 201.00n/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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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/18 03:31
End of Day Share Price 2024/12/18 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

NP3 Fastigheter AB (publ) is covered by 3 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jan IhrfeltKepler Cheuvreux
Emil EkholmPareto Securities
Jan IhrfeltSwedbank Large Corporates & Institutions