OM:CAST

Stock Analysis Report

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Executive Summary

Castellum is one of the largest listed real estate companies in Sweden.

Rewards


Snowflake Analysis


Similar Companies

Share Price & News

How has Castellum's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CAST's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

8.4%

CAST

6.4%

SE Real Estate

5.1%

SE Market


1 Year Return

5.7%

CAST

13.3%

SE Real Estate

10.9%

SE Market

Return vs Industry: CAST underperformed the Swedish Real Estate industry which returned 13.3% over the past year.

Return vs Market: CAST underperformed the Swedish Market which returned 10.9% over the past year.


Shareholder returns

CASTIndustryMarket
7 Day8.4%6.4%5.1%
30 Day4.5%11.8%14.4%
90 Day-11.2%-13.5%5.5%
1 Year9.7%5.7%15.0%13.3%12.5%10.9%
3 Year61.2%44.4%45.5%36.7%17.6%1.7%
5 Year116.9%59.0%119.3%94.3%38.3%11.0%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Castellum undervalued compared to its fair value and its price relative to the market?

10.91x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: CAST (SEK191.3) is trading above our estimate of fair value (SEK75.38)

Significantly Below Fair Value: CAST is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: CAST is poor value based on its PE Ratio (10.9x) compared to the Real Estate industry average (8.5x).

PE vs Market: CAST is good value based on its PE Ratio (10.9x) compared to the Swedish market (19.1x).


Price to Earnings Growth Ratio

PEG Ratio: CAST is poor value based on its PEG Ratio (1.3x)


Price to Book Ratio

PB vs Industry: CAST is overvalued based on its PB Ratio (1.2x) compared to the SE Real Estate industry average (1.1x).

Future Growth

How is Castellum forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

8.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CAST's forecast earnings growth (8.3% per year) is above the savings rate (0.5%).

Earnings vs Market: CAST's earnings (8.3% per year) are forecast to grow slower than the Swedish market (16.7% per year).

High Growth Earnings: CAST's earnings are forecast to grow, but not significantly.

Revenue vs Market: CAST's revenue (2.8% per year) is forecast to grow slower than the Swedish market (5.8% per year).

High Growth Revenue: CAST's revenue (2.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CAST's Return on Equity is forecast to be low in 3 years time (6.7%).

Past Performance

How has Castellum performed over the past 5 years?

20.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CAST has a large one-off gain of SEK3.2B impacting its March 31 2020 financial results.

Growing Profit Margin: CAST's current net profit margins (81.7%) are lower than last year .


Past Earnings Growth Analysis

Earnings Trend: CAST's earnings have grown significantly by 20.9% per year over the past 5 years.

Accelerating Growth: CAST's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: CAST had negative earnings growth (-40.3%) over the past year, making it difficult to compare to the Real Estate industry average (11.5%).


Return on Equity

High ROE: CAST's Return on Equity (11.2%) is considered low.

Financial Health

How is Castellum's financial position?


Financial Position Analysis

Short Term Liabilities: CAST's short term assets (SEK2.4B) do not cover its short term liabilities (SEK8.2B).

Long Term Liabilities: CAST's short term assets (SEK2.4B) do not cover its long term liabilities (SEK50.6B).


Debt to Equity History and Analysis

Debt Level: CAST's debt to equity ratio (103.3%) is considered high.

Reducing Debt: CAST's debt to equity ratio has reduced from 159% to 103.3% over the past 5 years.

Debt Coverage: CAST's debt is not well covered by operating cash flow (8.1%).

Interest Coverage: CAST's interest payments on its debt are well covered by EBIT (4x coverage).


Balance Sheet

Dividend

What is Castellum's current dividend yield, its reliability and sustainability?

3.40%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: CAST's dividend (3.4%) is higher than the bottom 25% of dividend payers in the Swedish market (1.6%).

High Dividend: CAST's dividend (3.4%) is low compared to the top 25% of dividend payers in the Swedish market (5.09%).


Stability and Growth of Payments

Stable Dividend: CAST's dividends per share have been stable in the past 10 years.

Growing Dividend: CAST's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (37.1%), CAST's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CAST's dividends in 3 years are forecast to be covered by earnings (64.3% payout ratio).

Management

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

2.4yrs

Average management tenure


CEO

Henrik Saxborn (55yo)

7.25yrs

Tenure

Mr. Henrik Saxborn has been the Chief Executive Officer of Castellum AB (publ) since March 21, 2013. He serves as Director of the PSP Swiss Property AG since April 09, 2020. Mr. Saxborn served as Deputy Ch ...


Leadership Team

NamePositionTenureCompensationOwnership
Henrik Saxborn
Chief Executive Officer7.25yrsno data0.026% SEK13.6m
Ulrika Danielsson
Chief Financial Officer14.42yrsno data0.0079% SEK4.1m
Anna-Karin Nyman
Corporate Communications Director1.67yrsno data0.000050% SEK26.1k
Olof Gertz
Senior Vice President of Human Resources2.33yrsno datano data
Claes Junefelt
Head of Project Development - Central Regionno datano datano data
Ola Orsmark
Managing Director of Region Öresund3.92yrsno data0.0025% SEK1.3m
Filip Elland
Head of Sustainabilityno datano datano data
Per Gawelin
Managing Director of Central Region2.42yrsno data0.00040% SEK209.1k
Mariette Hilmersson
Managing Director of Region West2.33yrsno data0.00073% SEK381.5k
Niclas Ingeström
Chief Digital Officer1.33yrsno datano data

2.4yrs

Average Tenure

48yo

Average Age

Experienced Management: CAST's management team is considered experienced (2.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Nina Linander
Independent Director6.25yrsno data0.0044% SEK2.3m
Zdravko Markovski
Director0.25yrno datano data
Christer Jacobson
Independent Director14.42yrsno data0.013% SEK6.8m
Per Berggren
Independent Director13.42yrsno data0.0016% SEK862.3k
Charlotte Strömberg
Independent Chairman of the Board8.25yrsno data0.0077% SEK4.0m
Joacim Sjöberg
Director0.25yrno datano data
Anna-Karin Hatt
Independent Director5.25yrsno data0.00048% SEK250.9k
Christina Kazeem
Independent Director4.25yrsno data0.00013% SEK67.9k

5.8yrs

Average Tenure

57.5yo

Average Age

Experienced Board: CAST's board of directors are considered experienced (5.8 years average tenure).


Ownership

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


Insider Trading Volume

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


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

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


Key Information

  • Name: Castellum AB (publ)
  • Ticker: CAST
  • Exchange: OM
  • Founded:
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: kr52.263b
  • Shares outstanding: 273.20m
  • Website: https://www.castellum.se

Number of Employees


Location

  • Castellum AB (publ)
  • Östra Hamngatan 16
  • Gothenburg
  • Västra Götaland County
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CASTOM (OMX Nordic Exchange Stockholm)YesRegistered Class A SharesSESEKMay 1997
TEXDB (Deutsche Boerse AG)YesRegistered Class A SharesDEEURMay 1997
0GT1LSE (London Stock Exchange)YesRegistered Class A SharesGBSEKMay 1997
CWQX.FOTCPK (Pink Sheets LLC)YesRegistered Class A SharesUSUSDMay 1997
CASTSBATS-CHIXE (BATS 'Chi-X Europe')YesRegistered Class A SharesGBSEKMay 1997
CWQX.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDDec 2008

Biography

Castellum is one of the largest listed real estate companies in Sweden. Property values amount to SEK 89.2 billion and holdings comprise office, warehousing/ logistics and public sector properties, covering a total leasable area of 4.2 million square metres. The real estate portfolio is owned and managed under the Castellum brand through a decentralized organization with strong and clear local presence in 20 cities in Sweden and also in Copenhagen and Helsinki. In 2018, Castellum received two awards for sustainability efforts; designated Number One in the world by GRESB for the offices-and-logistics sector, as well as the Level Gold award for sustainability reporting from the EPRA (European Public Real Estate Association). In addition, Castellum is the only Nordic real-estate and construction company elected to the Dow Jones Sustainability Index (DJSI), joining a select group of companies in the world who perform best on sustainability issues.The Castellum share is listed on Nasdaq Stockholm Large Cap. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/07 00:36
End of Day Share Price2020/06/05 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


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.