Solnaberg Property Valuation

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

SOLNA (SEK112) is trading below our estimate of [[fair value]] (SEK182.86)

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: SOLNA (SEK112) is trading below our estimate of fair value (SEK182.86)

Significantly Below Fair Value: SOLNA is trading below fair value by more than 20%.

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for SOLNA. This is calculated by dividing SOLNA's market cap by their current revenue.
What is SOLNA's PS Ratio?
PS Ratio	5.4x
Sales	SEK 78.34m
Market Cap	SEK 421.12m

SOLNA 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	12x
Enterprise Value/EBITDA	15.4x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for SOLNA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	5.1x
AMH2 B Amhult 2	4.3x	n/a	SEK 390.3m
KAPIAB Kallebäck Property Invest	7.4x	n/a	SEK 646.1m
SYDSV Sydsvenska Hem	4.4x	n/a	SEK 438.9m
ACRI A Acrinova	4.2x	n/a	SEK 634.7m
SOLNA Solnaberg Property	5.4x	n/a	SEK 421.1m

Price-To-Sales vs Peers: SOLNA is expensive based on its Price-To-Sales Ratio (5.4x) compared to the peer average (5.1x).

Price to Sales Ratio vs Industry

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

6 Companies	Price / Sales	Estimated Growth	Market Cap
HEIM PREF Heimstaden	0.2x	n/a	US$290.55m
WBGR B Wästbygg Gruppen	0.2x	0.2%	US$86.51m
FASTAT Aktiebolaget Fastator	0.3x	n/a	US$11.06m
SAMT B Samtrygg Group	0.07x	n/a	US$3.05m

6 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: SOLNA is good value based on its Price-To-Sales Ratio (5.4x) compared to the Swedish Real Estate industry average (5.5x).

Price to Sales Ratio vs Fair Ratio

What is SOLNA'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.

SOLNA PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	5.4x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate SOLNA's Price-To-Sales Fair Ratio for valuation analysis.

Analyst Price Targets

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

Analyst Forecast: Insufficient data to show price forecast.