NP3 Fastigheter Valuation

Q: What is the Fair Price of NP3 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

NP3 (SEK250) is trading below our estimate of [[fair value]] (SEK257.71)

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 (SEK250) is trading below our estimate of fair value (SEK257.71)

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?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for NP3. This is calculated by dividing NP3's market cap by their current preferred multiple.
What is NP3's n/a Ratio?
n/a	0x
n/a	n/a
Market Cap	SEK 14.39b

NP3 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	14.2x
Enterprise Value/EBITDA	20.2x
PEG Ratio	1.5x

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.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	35.9x
CATE Catena	20.7x	8.1%	SEK 28.8b
SLP B Swedish Logistic Property	15.8x	2.6%	SEK 8.1b
PNDX B Pandox	71.5x	22.3%	SEK 35.4b
EMIL B Fastighetsbolaget Emilshus	35.6x	32.2%	SEK 5.1b
NP3 NP3 Fastigheter	54.5x	37.3%	SEK 14.4b

Price-To-Earnings vs Peers: NP3 is expensive based on its Price-To-Earnings Ratio (54.5x) compared to the peer average (35.9x).

Price to Earnings Ratio vs Industry

How does NP3's PE Ratio compare vs other companies in the SE Real Estate Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	66.0%
	n/a	n/a	n/a

Fetching data

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	66.0%
	n/a	n/a	n/a

No more companies

Price-To-Earnings vs Industry: NP3 is expensive based on its Price-To-Earnings Ratio (54.5x) compared to the European Real Estate industry average (20x).

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 Ratio	54.5x
Fair PE Ratio	48.2x

Price-To-Earnings vs Fair Ratio: NP3 is expensive based on its Price-To-Earnings Ratio (54.5x) compared to the estimated Fair Price-To-Earnings Ratio (48.2x).

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.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	SEK 250.00	SEK 284.50 +13.8%	9.0%	SEK 310.00	SEK 259.00	n/a	2
Jul ’25	SEK 257.00	SEK 251.50 -2.1%	5.4%	SEK 265.00	SEK 238.00	n/a	2
Jun ’25	SEK 248.50	SEK 244.00 -1.8%	2.5%	SEK 250.00	SEK 238.00	n/a	2
May ’25	SEK 232.00	SEK 225.50 -2.8%	10.9%	SEK 250.00	SEK 201.00	n/a	2

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