Sveafastigheter Valuation

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

SVEAF (SEK36.55) is trading below our estimate of [[fair value]] (SEK67.87)

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

Below Fair Value: SVEAF (SEK36.55) is trading below our estimate of fair value (SEK67.87)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for SVEAF. This is calculated by dividing SVEAF's market cap by their current revenue.
What is SVEAF's PS Ratio?
PS Ratio	6.4x
Sales	SEK 1.15b
Market Cap	SEK 7.31b

SVEAF 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	17x
Enterprise Value/EBITDA	108.2x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for SVEAF 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	7.5x
LOGI A Logistea	12.5x	16.7%	SEK 7.1b
SBB B Samhällsbyggnadsbolaget i Norden	1x	-16.7%	SEK 6.7b
STEF B Stendörren Fastigheter	7.1x	9.9%	SEK 6.2b
EMIL B Fastighetsbolaget Emilshus	9.6x	n/a	SEK 5.8b
SVEAF Sveafastigheter	6.4x	n/a	SEK 7.3b

Price-To-Sales vs Peers: SVEAF is good value based on its Price-To-Sales Ratio (6.4x) compared to the peer average (7.5x).

Price to Sales Ratio vs Industry

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

6 Companies	Price / Sales	Estimated Growth	Market Cap
HEIM PREF Heimstaden	0.1x	n/a	US$242.36m
WBGR B Wästbygg Gruppen	0.2x	0.2%	US$87.56m
FASTAT Aktiebolaget Fastator	0.2x	n/a	US$8.26m
SAMT B Samtrygg Group	0.07x	n/a	US$3.17m

6 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: SVEAF is expensive based on its Price-To-Sales Ratio (6.4x) compared to the Swedish Real Estate industry average (5.4x).

Price to Sales Ratio vs Fair Ratio

What is SVEAF'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.

SVEAF PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	6.4x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate SVEAF'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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