ALM Equity (OM:ALM) - Share price, News & Analysis

ALM fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	2/6
Past Performance	5/6
Financial Health	4/6
Dividends	0/6

ALM Stock Overview

ALM Equity AB (publ) operates as a real estate development company in Sweden.

Rewards

Price-To-Earnings ratio (2.1x) is below the Swedish market (15.7x)

Revenue is forecast to grow 40.93% per year

Earnings grew by 113300% over the past year

Risk Analysis

Earnings are forecast to decline by an average of 77.5% per year for the next 3 years

Interest payments are not well covered by earnings

High level of non-cash earnings

Shareholders have been diluted in the past year

ALM Equity Competitors

Arlandastad Group

OM:AGROUP

kr2.7b

Wästbygg Gruppen

OM:WBGR B

kr2.0b

Titania Holding

OM:TITA B

kr649.3m

Heba Fastighets

OM:HEBA B

kr7.2b

Price History & Performance

Summary of all time highs, changes and price drops for ALM Equity
Historical stock prices
Current Share Price	kr680.00
52 Week High	kr1,130.00
52 Week Low	kr680.00
Beta	0.67
1 Month Change	-19.05%
3 Month Change	-29.75%
1 Year Change	-12.82%
3 Year Change	246.94%
5 Year Change	165.63%
Change since IPO	818.92%

Shareholder Returns

	ALM	SE Real Estate	SE Market
7D	-0.9%	-1.6%	-0.06%
1Y	-12.8%	-28.7%	-22.4%

Return vs Industry: ALM exceeded the Swedish Real Estate industry which returned -27.4% over the past year.

Return vs Market: ALM exceeded the Swedish Market which returned -22.4% over the past year.

Price Volatility

Is ALM's price volatile compared to industry and market?
ALM volatility
ALM Average Weekly Movement	5.0%
Real Estate Industry Average Movement	5.8%
Market Average Movement	7.4%
10% most volatile stocks in SE Market	12.3%
10% least volatile stocks in SE Market	4.7%

Stable Share Price: ALM is less volatile than 75% of Swedish stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: ALM's weekly volatility (5%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1997	81	Joakim Alm	https://www.almequity.se

ALM Equity AB (publ) operates as a real estate development company in Sweden. The company operates through five segments: Management, Project Development, Construction, Financing, and Digital Services. The Management segment acquires and manages surface-efficient properties in locations close to communications in Greater Stockholm.

ALM Equity Fundamentals Summary

How do ALM Equity's earnings and revenue compare to its market cap?
ALM fundamental statistics
Market Cap	kr7.23b
Earnings (TTM)	kr3.40b
Revenue (TTM)	kr2.82b

2.1x

P/E Ratio

2.6x

P/S Ratio

Is ALM overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
ALM income statement (TTM)
Revenue	kr2.82b
Cost of Revenue	kr2.53b
Gross Profit	kr288.00m
Other Expenses	-kr3.11b
Earnings	kr3.40b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	320.04
Gross Margin	10.22%
Net Profit Margin	120.72%
Debt/Equity Ratio	65.4%

How did ALM perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for ALM. This is calculated by dividing ALM's market cap by their current preferred multiple.
What is ALM's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	kr7.23b

ALM 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	3.6x
Enterprise Value/EBITDA	75x
PEG Ratio	-0.03x

Price to Earnings Ratio vs Peers

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

ALM PE Ratio vs Peers

The above table shows the PE ratio for ALM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	9.5x
AGROUP Arlandastad Group	15.7x	13.7%	kr2.7b
WBGR B Wästbygg Gruppen	11.6x	23.2%	kr2.0b
TITA B Titania Holding	6x	38.1%	kr649.3m
HEBA B Heba Fastighets	4.6x	n/a	kr7.2b
ALM ALM Equity	2.1x	-77.5%	kr7.2b

Forward PE

Price-To-Earnings vs Peers: ALM is good value based on its Price-To-Earnings Ratio (2.1x) compared to the peer average (9.5x).

Price to Earnings Ratio vs Industry

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

Price-To-Earnings vs Industry: ALM is good value based on its Price-To-Earnings Ratio (2.1x) compared to the Swedish Real Estate industry average (4.4x)

Price to Earnings Ratio vs Fair Ratio

What is ALM'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.

ALM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	2.1x
Fair PE Ratio	3.7x

Price-To-Earnings vs Fair Ratio: ALM is good value based on its Price-To-Earnings Ratio (2.1x) compared to the estimated Fair Price-To-Earnings Ratio (3.7x).

Share Price vs Fair Value

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

Below Fair Value: Insufficient data to calculate ALM's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate ALM's fair value for valuation analysis.

Price to Earnings Growth Ratio

PEG Ratio: ALM's earnings are forecast to decline next year, so we can't calculate its PEG ratio.

Discover undervalued companies

Future Growth

How is ALM Equity forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

2/6

Future Growth Score 2/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

-77.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: ALM's earnings are forecast to decline over the next 3 years (-77.5% per year).

Earnings vs Market: ALM's earnings are forecast to decline over the next 3 years (-77.5% per year).

High Growth Earnings: ALM's earnings are forecast to decline over the next 3 years.

Revenue vs Market: ALM's revenue (40.9% per year) is forecast to grow faster than the Swedish market (5.5% per year).

High Growth Revenue: ALM's revenue (40.9% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: ALM's Return on Equity is forecast to be low in 3 years time (2.9%).

Discover growth companies

Past Performance

How has ALM Equity performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

66.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ALM has a high level of non-cash earnings.

Growing Profit Margin: ALM's current net profit margins are higher than last year (0.2%).

Past Earnings Growth Analysis

Earnings Trend: ALM's earnings have grown significantly by 66.3% per year over the past 5 years.

Accelerating Growth: ALM's earnings growth over the past year (113300%) exceeds its 5-year average (66.3% per year).

Earnings vs Industry: ALM earnings growth over the past year (113300%) exceeded the Real Estate industry 109.3%.

Return on Equity

High ROE: ALM's Return on Equity (50.5%) is considered outstanding.

Discover strong past performing companies

Financial Health

How is ALM Equity's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: ALM's short term assets (SEK8.7B) exceed its short term liabilities (SEK3.1B).

Long Term Liabilities: ALM's short term assets (SEK8.7B) exceed its long term liabilities (SEK3.0B).

Debt to Equity History and Analysis

Debt Level: ALM's net debt to equity ratio (41.2%) is considered high.

Reducing Debt: ALM's debt to equity ratio has reduced from 142.6% to 65.4% over the past 5 years.

Debt Coverage: ALM's debt is well covered by operating cash flow (24.9%).

Interest Coverage: ALM's interest payments on its debt are not well covered by EBIT (0.6x coverage).

Balance Sheet

Discover healthy companies

Dividend

What is ALM Equity current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate ALM's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate ALM's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ALM's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ALM's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: ALM is not paying a notable dividend for the Swedish market.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as ALM has not reported any payouts.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

8.4yrs

Average management tenure

CEO

Joakim Alm (60 yo)

16.42yrs

Tenure

Mr. Joakim Alm founded ALM equity AB in 2006 and also serves as its Chief Executive Officer and President. Mr. Alm worked in financial management and as Project Leader at SAS from 1987 to 1989. He investig...

Leadership Team

Experienced Management: ALM's management team is seasoned and experienced (8.4 years average tenure).

Board Members

Experienced Board: ALM's board of directors are seasoned and experienced ( 16.4 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: ALM insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4.1%.

Data	Last Updated (UTC time)
Company Analysis	2022/06/29 00:00
End of Day Share Price	2022/06/29 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31