Solnaberg Property AB (publ)

OM:SOLNA Stock Report

Market Cap: SEK 421.1m

Solnaberg Property Valuation

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 Ratio5.4x
SalesSEK 78.34m
Market CapSEK 421.12m

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.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average5.1x
AMH2 B Amhult 2
4.3xn/aSEK 390.3m
KAPIAB Kallebäck Property Invest
7.4xn/aSEK 646.1m
SYDSV Sydsvenska Hem
4.4xn/aSEK 438.9m
ACRI A Acrinova
4.2xn/aSEK 634.7m
SOLNA Solnaberg Property
5.4xn/aSEK 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 CompaniesPrice / SalesEstimated GrowthMarket Cap
HEIM PREF Heimstaden
0.2xn/aUS$290.55m
WBGR B Wästbygg Gruppen
0.2x0.2%US$86.51m
FASTAT Aktiebolaget Fastator
0.3xn/aUS$11.06m
SAMT B Samtrygg Group
0.07xn/aUS$3.05m
SOLNA 5.4xIndustry Avg. 5.5xNo. of Companies11PS03.26.49.612.816+
6 CompaniesEstimated GrowthMarket 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 Ratio5.4x
Fair PS Ration/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.


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