OM:BALD B

Stock Analysis Report

Fastighets AB Balder

Executive Summary

Fastighets AB Balder (publ) develops, owns, and manages residential and commercial properties, and hotels in Sweden, Denmark, Norway, Finland, the United Kingdom, and Germany.

Snowflake

Fundamentals

Slightly overvalued with questionable track record.


Similar Companies

Share Price & News

How has Fastighets AB Balder's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

2.4%

OM:BALD B

3.0%

SE Real Estate

-0.03%

SE Market


1 Year Return

36.3%

OM:BALD B

30.8%

SE Real Estate

-2.3%

SE Market

BALD B outperformed the Real Estate industry which returned 31% over the past year.

BALD B outperformed the Market in Sweden which returned -1.9% over the past year.


Share holder returns

BALD BIndustryMarket
7 Day2.4%3.0%-0.03%
30 Day2.7%4.9%-3.7%
90 Day10.5%13.2%-1.4%
1 Year36.3%36.3%36.6%30.8%1.8%-2.3%
3 Year41.8%41.8%54.1%40.4%24.6%6.2%
5 Year250.3%250.3%179.6%138.9%45.0%14.2%

Price Volatility Vs. Market

How volatile is Fastighets AB Balder's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Fastighets AB Balder undervalued based on future cash flows and its price relative to the stock market?

7.74x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Fastighets AB Balder's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Fastighets AB Balder's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Fastighets AB Balder is good value based on earnings compared to the SE Real Estate industry average.

Fastighets AB Balder is good value based on earnings compared to the Sweden market.


Price Based on Expected Growth

Fastighets AB Balder earnings are not expected to grow next year, we can't assess if its growth is good value.


Price Based on Value of Assets

Fastighets AB Balder is overvalued based on assets compared to the SE Real Estate industry average.


Next Steps

Future Growth

How is Fastighets AB Balder expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

-15.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Fastighets AB Balder's revenue is expected to grow by 3.3% yearly, however this is not considered high growth (20% yearly).

Fastighets AB Balder's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.

Fastighets AB Balder's revenue growth is positive but not above the Sweden market average.

Fastighets AB Balder's earnings are expected to decrease over the next 1-3 years, this is below the Sweden market average.

Fastighets AB Balder's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.4%.


Earnings per Share Growth Estimates


Future Return on Equity

Fastighets AB Balder is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Fastighets AB Balder performed over the past 5 years?

25.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Fastighets AB Balder has delivered over 20% year on year earnings growth in the past 5 years.

Fastighets AB Balder's 1-year earnings growth is less than its 5-year average (12.9% vs 25.1%)

Fastighets AB Balder's earnings growth has exceeded the SE Real Estate industry average in the past year (12.9% vs 10.5%).


Return on Equity

Fastighets AB Balder has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Fastighets AB Balder used its assets less efficiently than the SE Real Estate industry average last year based on Return on Assets.


Return on Capital Employed

Fastighets AB Balder's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Fastighets AB Balder's financial position?


Financial Position Analysis

Fastighets AB Balder's short term (1 year) commitments are greater than its holdings of cash and other short term assets.

Fastighets AB Balder's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Fastighets AB Balder's level of debt (152.1%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has been reduced over the past 5 years (175.7% vs 152.1% today).

Debt is not well covered by operating cash flow (4.7%, less than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 5.4x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is not covered by short term assets, assets are 0x debt.


Next Steps

Dividend

What is Fastighets AB Balder's current dividend yield, its reliability and sustainability?

0.14%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Unable to evaluate Fastighets AB Balder's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate Fastighets AB Balder's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as Fastighets AB Balder has not reported any payouts.

Unable to verify if Fastighets AB Balder's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as Fastighets AB Balder has not reported any payouts.


Future Payout to Shareholders

No need to calculate the sustainability of Fastighets AB Balder's dividends in 3 years as they are not expected to pay a notable one for Sweden.


Next Steps

Management

What is the CEO of Fastighets AB Balder's salary, the management and board of directors tenure and is there insider trading?

13.6yrs

Average board tenure


CEO

Erik Selin (52yo)

14.6yrs

Tenure

0

Mr. Erik Selin, B.Sc. (Econ.) serves as Chairman of the Board at Brinova Fastigheter AB (publ) since 2018. Mr. Selin has been Chief Executive Officer of Fastighets AB Balder (publ) since 2005. Mr. Selin se ...


Board Age and Tenure

13.6yrs

Average Tenure

63yo

Average Age

The average tenure for the Fastighets AB Balder board of directors is over 10 years, this suggests they are a seasoned and experienced board.


Insider Trading

Fastighets AB Balder individual insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Sellkr170,00016 Aug 19
Christina Rogestam
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares500
Max Pricekr340.00
Sellkr157,00011 Jun 19
Christina Rogestam
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares500
Max Pricekr314.00
Sellkr152,00003 Jun 19
Christina Rogestam
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares500
Max Pricekr304.00
Sellkr536,00011 Jan 19
Christina Rogestam
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares2,000
Max Pricekr268.00
Buykr1,490,58526 Nov 18
Bassholmen Ab
EntityCompany
Shares6,025
Max Pricekr247.40
Buykr1,490,58520 Nov 18
Anders Wennergren
EntityIndividual
Role
Member of the Board of Directors
Director
Shares6,025
Max Pricekr247.40

Ownership Breakdown


Management Team

  • Benny Ivarsson (64yo)

    Head of Property

    • Tenure: 1.5yrs
  • Erik Selin (52yo)

    CEO & Director

    • Tenure: 14.6yrs
  • Marcus Hansson (45yo)

    Head of Finance

    • Tenure: 0.0yrs
  • Magnus Björndahl (62yo)

    Chief Financial Officer

    • Tenure: 0.0yrs
  • Petra Sprangers (54yo)

    HR Director

    • Tenure: 0.0yrs
  • Matts Bergsten

    Accounting Manager

    • Tenure: 0.0yrs

Board Members

  • Fredrik Svensson (58yo)

    Director

    • Tenure: 14.6yrs
    • Compensation: kr100.00k
  • Sten Dunér (68yo)

    Director

    • Tenure: 12.6yrs
    • Compensation: kr100.00k
  • Erik Selin (52yo)

    CEO & Director

    • Tenure: 14.6yrs
  • Christina Rogestam (76yo)

    Chairman of the Board

    • Tenure: 13.6yrs
    • Compensation: kr200.00k
  • Anders Wennergren (63yo)

    Director

    • Tenure: 10.6yrs
    • Compensation: kr100.00k

Company Information

Fastighets AB Balder (publ)'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Fastighets AB Balder (publ)
  • Ticker: BALD B
  • Exchange: OM
  • Founded: 2005
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: kr62.424b
  • Shares outstanding: 180.00m
  • Website: https://www.balder.se

Number of Employees


Location

  • Fastighets AB Balder (publ)
  • Parkgatan 49
  • Box 53121
  • Gothenburg
  • Västra Götaland County
  • 411 38
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BALD BOM (OMX Nordic Exchange Stockholm)YesClass B SharesSESEKOct 1999
0H2ZLSE (London Stock Exchange)YesClass B SharesGBSEKOct 1999
BALDBsBATS-CHIXE (BATS 'Chi-X Europe')YesClass B SharesGBSEKOct 1999

Biography

Fastighets AB Balder (publ) develops, owns, and manages residential and commercial properties, and hotels in Sweden, Denmark, Norway, Finland, the United Kingdom, and Germany. The company’s property portfo ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/20 20:46
End of Day Share Price2019/08/20 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.